Also, and possibly more importantly given the situation...
If Rangers do qualify for Europe, and subsequently "lose" their license, by going into admin etc. They would then be subject to a 3 year European ban(I think).
As someone said, its discussed in another thread, with Real Mallorca/Villareal situation being cited as an example of a license being revoked.
Edit: 3 years may be pish... depends on UEFA, but certainly a ban of some sort.