DUNDEE, Scotland -- Scottish Premier League club Dundee officially entered administration on Thursday after failing to pay a tax bill.

The club announced last week it would be forced to accept administration after being unable to negotiate a payment plan for the nearly $600,000 in back taxes owed. The club is in administration for the second time in seven years.

Administration allows the club to operate without being forced to sell off its assets to pay debts.

"Dundee FC are now officially in administration. Papers were lodged at the Court of Session in Edinburgh [Thursday]," a statement on the club's website read.

Dundee, which currently sits fourth in the standings behind undefeated Rangers and Celtic, will likely be punished by the league with a point deduction.