From the Fans Meeting, given the absence of an update today, we must be in administration. We were told the administrator would be here today or tomorrow, with a Press Conference likely to take place on Wednesday. There are presumably some formalities to be carried out before it can be formally confirmed.
Copied from the Fans Meeting thread:
To highlight one of the key issues, as has been mentioned in the Administration Thread Scott Young confirmed that the formal process for entering administration has started. Unless a formal offer is received before the administration papers are accepted by the Court (expected to be around 1000 on Monday) then the Administrator will be brought in, triggering the 15 point penalty. A Press Conference is likely to be held by the Administrator on Wednesday.