SPL - Rangers players fail to agree wage cuts
Rangers players face another anxious wait without clarity on their futures after failing to reach agreement with the club's administrators over wage cuts, with the club's highest earners reportedly offering to give up 75 per cent of their salaries.
Duff and Phelps had set Monday as a deadline following more than a week of talks aimed at achieving monthly savings of £1 million, but talks broke up without a final decision.
Administrators will consider an offer from the players overnight as they seek to strike a balance between wage cuts and potential job losses.
SkySports reported that this proposal involved the club's highest earners offering to take 75 per cent wage cuts, with lower-paid squad members offering to take smaller reductions dependent on salary. It is understood that this offer was approved by the PFA.
The impasse is by no means terminal - the players' final offer, if correctly reported, is unprecedented, although it is not known whether it will satisfy the administrator.
Players left Murray Park in quick succession shortly after 5.30pm, after arriving in the morning for talks aimed at preventing redundancies, and Duff and Phelps soon released a statement confirming another delay.
Joint administrator Paul Clark said: "Everyone involved in the administration process has been attempting to reach a consensual solution in regard to job losses within the playing squad.
"The prime reason for this has been to achieve essential cost savings while preserving the fabric of the first team.
"This has not been an easy balance to strike and we would like to thank the manager Ally McCoist, his players and the PFA Scotland for attempting to find a solution that would be workable for all. Every realistic option is being explored.
"Regrettably, it has not been possible thus far to reach a consensus where players could accept the necessary level of wage cuts to prevent job losses within the squad. We do not for a moment criticise the players for this as the wage reductions that would be required are very substantial and would have a significant impact on each individual.
"For clarity, we cannot enforce wage cuts. The players have to agree to this course of action.
"The players have asked us to consider a final proposal overnight for discussion in the morning and we have agreed to this request."