Champions League - Glasgow Rangers 2 AS Monaco 2

Glasgow Rangers twice threw away the lead against an AS Monaco side who ended up having nothing to play for as the whole future of the Scottish champions was put on hold by this draw.

Victory would have taken Rangers into the second phase of the Champions League for the first time since 1993 and tempt owner David Murray to go through with a long-rumoured share flotation on the London stock exchange which could value the club at £200 million.

Such plans now look set to stall as Rangers se a place in the UEFA Cup as little consolation for the continuing frustration of their extravagant European ambitions.

Rangers had the perfect start when Pablo Contreras failed to clear an Arthur Numan cross and let the ball bounce over him to Kenny Miller who hit the ball in at the near post and his shot seemed to be deflected off the unlucky Contreras.

Rangers looked comfortable but poor defending at a corner let the French champions back into the game.

Francisco da Costa was free at the near post to head in a 38th minute corner kick and set nerves on edge in the home crowd.

Dutch striker Michael Mols played in the game despite fitness doubts and he put Rangers in dreamland when he headed in a Ronald De Boer cross in the 52nd minute and at this stage - thanks to Graz drawing with Galatasary - Rangers were winning the section.

Joerg Albertz was clear through moments later but Stephane Porato saved his drive and Monaco went up the other end and killed off the home side.

A mistake by Amoruso in defence allowed the ball to reach Marco Simone and he slammed in his only real chance of the night after he side-stepped Tony Vidmar.

Rangers were knocked out of the Champions League because their results against Galatasary were inferior afterc finishing level on points with the UEFA Cup holders.