SPL - Rangers ask to enter administration
Scottish champions Rangers have said that they face administration after running into financial problems centred on a disputed tax bill, a move that would effectively hand the title to perennial rivals Celtic.
Rangers chairman Craig Whyte, who bought an 85 per cent stake in the club for a nominal one pound last year, said there was no 'realistic or practical' alternative course for the Glasgow giants, champions a record 54 times.
"It is extremely disappointing the club finds itself in this position but decisions have to be taken to safeguard the long-term survival and prosperity of the club both on and off the field," Whyte said in a statement.
"The harsh reality is that this moment has been a long time coming for Rangers and its roots lie in decisions taken many years ago. If we do not take action now the consequences and the risks to the club are too great," he added.
Rangers could face a bill of more than £50 million if they lose the case currently before a tax tribunal and the club warned it could not pay that amount.
They are second in the Scottish Premier League, four points behind Celtic, but face a 10-point penalty if they do go into administration, a decision expected over the next 10 days.
Rangers said they would have to cut costs and review staffing across the club if they were to go into administration.
They sold Croatia international striker Nikica Jelavic to Premier League club Everton last month.
Whyte vowed that the club, founded in 1872, would survive.
"I can reassure Rangers supporters that the club will continue and can emerge as a stronger and financially fitter organisation that will compete at the levels of competition our fans have come to expect."
The club is expected to come up with a proposed restructuring that will ensure creditors would be paid and provision made for the tax case. The aim is to minimise any points deduction and allow Rangers to play in lucrative European soccer next season.
Rangers are one of the best-supported clubs in Britain, with an average home attendance this season of more than 45,000.
However, the 12-team SPL is a poor relation to its English counterpart in terms of television revenue and sponsorship deals.
Rangers' fierce rivalry with Celtic often adds to sectarian tensions between Protestants and Roman Catholics in Glasgow and the surrounding areas.
Aberdeen, then managed by Alex Ferguson, took the Scottish league title in 1985 - the last time it was not won by one of the Glasgow giants.
Comment 742 - 761 of 761
Celltic will never be part of the bpl without rangers, the two are par and parcel. JUST TO LET YO SCOTS KNOW,THEIR IS NO SPL WITHOUT THE OLD FIRM. LAFF ALL U WANT BUT THE MONEY LOST FROM THE LOSS OF RANGERS HITTING YOUR SMALL THIRD WORL TOWNS WOULD END YOUR ENTIRE LEAGUE. NO SURRENDER, BROTHERS IN ARMS BROTHERS IN BLOOD.
can you explain why the council and the goverment should help a team out when it was them that got them selves into this mess other people have lost there jobs and no one helps them make them pay for there mistakes not the general public gilbert
Dont forget all u English fans Celtic were_The First Club to take European Cup back to these Isles Anne
No surrender,... I think its tooooooo late!!! LMFAO cant you read?.
daniel cousin has signed for rangers till the end of the season or as celtic supporters call it ...............3.00pm tuesday ahahahahahahahahahah
did craig whyte sell broxy bear suit for a pound to pay david murray games played behind closed doors if they canny pay the police will aluka step in pay the bill lets all do the huddle lets all do the huddle ah ah ah ah ah ah ah
Rangers supporters - is it true Coistie's taking in washing?
Unless Celtic on their own might go for an England option!
This is an important lesson for all of us.
What you should do is this, take over an ailing company, pretend all is well, live an extravagant lifestyle, spending far and away beyond your means. Further, you should employ vast numbers of people and pay little or no tax on their wages.
As soon as your creditors, including the Revenue and Customs come calling, just apply to the courts to have some tame liquidators (perhaps old friends that you've used before) appointed.
Make sure you are the preferred creditor, get the benefit of any future asset stripping. Once everything worth selling has gone reform the company. Sell shares. (Or season tickets). Break open the bubbly. Easy.
No Surrender!!! We are The People!!!!!!!!!!!!!!!!!!!!!!!
W A T P
No Surrender!!! It maybe a dark time for the mighty Gers but there's always light at the end of the tunnel we will get through this Leeds Utd went through the same although they struggled for many years there almost back to the premier league Rangers can do the same we wont be relegated as it would put other teams in the SPL in trouble due to Sky's contract for T.V. rights as for liquidation Unlikely! we get deducted 10pts and go from 2nd place to 2nd place in the competitive SPL Rangers will survive this and a wee message to all the bitter Celts you's would not be the same without the Rangers you become an Aberdeen or Dundee Utd of yester'year you's may win titles but you wont be able to buy the same quality of players without the competative title race WRTP
AHAHAHAHAHA!!!!! So f*****g funny.
Cash saving tip for Rangers football club. Don't squander any more cash on new shirts for the players. Instead use old Sainsbury message bags with holes in them for the players arms. That way they get to wear orange, and everyone will think you have a sponsor.
As a celtic supporter i cant honestly admit to not bieng a little glad that rangers are in this predicament ,but its got to be said murray knew this was going to happen thats why he baled out and sold the club for a pound,he knew exactly what was going on financially,but just goes to show you should always look after the finances,how could they let this happen ,oh and by the way where,s the bullets in the post and the death threats that lennon got,its karma ,what you do as a club comes back to in spades .
Wee Dan fae Livy, a strong follower of the Teddy Bears, you can blame a person trying to buy the Champions League Trophy, we#ve been in debt ever since then, but I would not have sold a Club the magnitude of Rangers to the current 85% stake holder with the background he has of the way he earned his money !!
Quality
Celtic is pronounced with an S, as in celluloid, because the hard K was brought into Scotland by American folk groups who thought that they were being very "Scattish". The dumbos here followed like sheep, and like so much else from across the pond, we're lumbered with it.
A kelt is a spent migratory female fish eg. a salmon which has laid all its eggs.
Jimbo.
it's time for these clubs to start living in the real world, stop paying silly money for players that have no loyalty to club or coountry, get back to basics pay, realistic wages find local talent to mature and be sold on, as it used to be live to the money that comes thtough the gate and local sponsoships, get players that have a love of the game, true supporters will still come to watch.
759 whats it like in the Hostel, I suppose The ORC'S are welcome due to thier Loyalty to the Queen, although the chief Constable of Manchester, where the two top English Teams are based, may dispute this. Now Run Along and Play on the Motorway ya Plum.
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