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Rangers Football Club enters administration

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  • All depends on this particular case but the vast majority of clubs coming out of administration have stayed in the same division (unless the points deduction has lead to relegation).

    Rangers are such a big club with huge support and potential that they will find buyers fairly easily IF IF IF the admin allows then to wipe away most the debt.

    The problem seems to be that the Administrators have found another £30m hole in the accounts and HMRC and trying to get their full whack, not the unusal 1p in the £
    Not sure if anyones mentioned this yet but the football debts first 'rule' doesn't apply in Scotland therefore whatever little's left after the taxman (if they are prefered creditor in this case) and the other big institutions have had their money is shared with those further down the pecking order. Like the several smaller clubs they owe gate receipts and transfer fees to.

    Maybe, just maybe, when clubs and players start getting shafted through this football might find some morals and do something about it.

    I still expect they'll kick off next year in the top division though.
  • What I want to know is why the hell anyone lends money to or does business with a football club? You might as well just flush your money straight down the loo rather than give it to someone else and watch them go into administration, taking your money with them.
  • The Scottish FA has confirmed it will conduct a full independent inquiry into the activities of Rangers Football Club
  • News gets worse and worse for Rangers. According to SSN the administraitors have said there are three options (first doesn't sound particuarly likely);

    Players take a 75% wage cut but no sackings
    50% cut and 8 players sacked
    50% cut deferred until the end of the season and 11 sacked

    Speculation as to who those players will be, likely to be those without any residual value (so, essentially out of contract at the end of the season or David Healy) but either way, Rangers already only have a squad of around 20 senior players plus some promising youth players. Looking at http://en.wikipedia.org/wiki/Rangers_F.C.#Current_squads there's really very few players there that I'd want us to make a bid for.

    Bad times indeed.
  • The players won't take a 50% wage cut, not all the time the football creditors rule exists. Presumably they can get free transfers if they are released so the best players will demand to go for nothing and the rest will fight for their full contract as they are probably earning more than they will earn elsewhere.
  • The players won't take a 50% wage cut, not all the time the football creditors rule exists.
    I dont think there is a football creditors rule north of the border
  • Football creditors rule doesn't exist in Scotland, but I agree it's a massive ask. Read somewhere else, and don't know how reliable this is, but Steven Whittaker had his wages quadroupled this summer from £7k to £28k week and sub keeper Neil Alexander (good keeper, but only plays about twice a season) is on £9k.
  • The players won't take a 50% wage cut, not all the time the football creditors rule exists.
    I dont think there is a football creditors rule north of the border
    I didn't know that. Does this mean that they can offer their players (I guess they'd have to make the same offer to all of them) a small percentage of what they owe them (say 1p in the £) on any unpaid wages? Surely that does, however, mean that the players can leave for nothing if the club don't pay them? If that's the case I would imagine all the decent players would just walk away and the rest would have to accept what ever Rangers offer, subject to it being more than they can get on a free transfer elsewhere?

    It all seems a little vague, but I can't see how the club can enforce salary reductions and keep the same length of contract as exists now.

    Either way it is a mess.
  • None of this will make a blind bit of difference. Rangers & Celtic have Scottish football over a barrel - ten times more so than any English club. No Rangers/No Celtic = No Scottish football. Nothing will happen to them save for another ten point deduction next year and maybe the year after that. Someone will come along and rescue them, and the taxman/local businesses will be out of pocket again.
  • edited March 2012
    It might do Leroy if they lose all their players as well as having a points deduction. Clearly they are safe for this season but if they can't get out of admin in time they might not be able to rebuild for next season and then they could end up in a relegation battle as they might have to field kids.

    I know this is unlikely, we can but hope.
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  • The players won't take a 50% wage cut, not all the time the football creditors rule exists.
    I dont think there is a football creditors rule north of the border
    I didn't know that. Does this mean that they can offer their players (I guess they'd have to make the same offer to all of them) a small percentage of what they owe them (say 1p in the £) on any unpaid wages? Surely that does, however, mean that the players can leave for nothing if the club don't pay them? If that's the case I would imagine all the decent players would just walk away and the rest would have to accept what ever Rangers offer, subject to it being more than they can get on a free transfer elsewhere?

    It all seems a little vague, but I can't see how the club can enforce salary reductions and keep the same length of contract as exists now.

    Either way it is a mess.
    The players can technically turn down a wage reduction and walk away, but (depending on the reduction asked for) it may not be worth it as your life/your family's life in Glasgow would become quite difficult. Different story for foreign players of course.
  • Celtic would never ever join the English Leagues.

    Way to much aggro for everyone.
    Let's hope Rangers don't either after the way they smashed up Manchester a few years back.

  • That was a strange one Rodney,all that damage and only two of the arrested were Scottish.Made me wonder where all the casuals appeared from?
  • edited March 2012
    That was a strange one Rodney,all that damage and only two of the arrested were Scottish.Made me wonder where all the casuals appeared from?
    Yeah I agree it was only a minority apparently but then again its usually the minority that gives all clubs a bad name unfortunately.

    Wouldnt want Rangers to go under as would be the death of the game up there i think but something needs to be done about all the clubs in admin as its all getting a bit silly especially at clubs like portsmorth.
  • edited March 2012
    I agree with that administration stuff Rodney. The wrecking of Manchester got me though as it was kept quite in the press even though the police now that a lot of English based hooligans are tagging on to Rangers.I didnt realise how bad this was until I was refused access to a game at Ibrox for having a London accent! My bro in law Scottish accent and my son who speaks jockney got in I had to find a watering hole and meet them afterwards! This was not due to any form I have as I have never even been chucked out of a football ground.
  • http://www.bbc.co.uk/sport/0/football/17221172

    Gregg Wylde "I volunteered to walk with no redundancy packaage today to help the other people in the club who have families, like the kitchen staff.
  • http://www.bbc.co.uk/sport/0/football/17221172

    Gregg Wylde "I volunteered to walk with no redundancy packaage today to help the other people in the club who have families, like the kitchen staff.
    Brave decision for a 20 and 21 year old to make so credit to them.

    OK they would have been on decent wages for a couple of years but they have no club and no guarantee of getting one or the same wages.

  • Fire sale! Could get ourselves a couple of decent players there, Starting with Wylde. Definitely going to be premier league quality.
  • SCP should be on next plane to Glasgow to get Wylde.
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  • Quote from the administrator:

    "Earlier in the day, we believed we had agreed in principle a basis of cost-cutting measures with the players accepting substantial pay cuts and we are very grateful for their efforts in reaching that point.
    "Sadly this evening we have been unable to reach agreement on the personal conditions sought by the advisors to the players in respect of those wage cuts."

    Further proof if we needed it that deep down at the bottom of the cesspit of human life forms, once you've got past the MPs who fiddle expenses, Goldman Sachs, and bent coppers, at the very bottom, you find football agents...
  • Really interesting debate on the Rangers situation on BBC Radio Scotland - on channel 0116 on Sky if anyone's interested
  • Don't get me started on piss poor leagues.

  • edited March 2012
    Genuine concern that if substantial investment is not found soon then Rangers may not be able to complete this season. Seems inconceivable but apparently true. Maybe it's the administrators turning the screw a bit on any interested parties out there. Watch this space I guess.


    Rangers' second-largest shareholder Dave King has stated he believes the liquidation of the club is 'inevitable.'

    Ibrox administrators are currently locked in talks with players over a wage-cut programme that will help save the £1m-per-month the club requires to stay afloat - but King is pessimistic.

    King said: "I do not believe that there is a reasonable prospect that the company can come out of administration. I believe that liquidation is inevitable.

    "The harsh reality is that Craig Whyte has abused the loyalty of the fans by trading that future loyalty for cash in a manner that has excluded the club's ability to provide the very product that the fans were expected to pay for."

    The only survivor from the Sir David Murray-era board, King also revealed his intention to sue the former owner for £20m and slammed current Ibrox chief Craig Whyte in a 1200-word statement.

    Whyte hit back at King's claims, stating: "I've noted what's been said elsewhere. There is absolutely no necessity for Rangers to be liquidated. As far as I'm concerned, we will exit administration by means of a company voluntary agreement."

  • Don't get me started on piss poor leagues.


    Its not about piss poor league but a club in trouble in the game we all love.

    Comments like this get threads sunk and closed when grown ups are debating the problem without silly comments

    So best you dont bother posting and find a thread you like
  • They were saying earlier that part of the deal with the players was that they would be undervalued by Rangers thereby increasing the likelihood of getting a move for next season and making up any difference in increased wages and with the signing on fee at the next club.

    HMRC and other creditors, rightly imo, put the brakes on anything like that as effectively they were devaling the businesses assets leaving the creditors with less in the pot to go around. It shows the way that clubs, and players, think in a nutshell really as they clearly don't care about any debts other than between themselves...and not much about them either.
  • SHG - I saw the comments from King. Whilst he may be right, it's worth bearing in mind that he has an agenda - he just lost £250m case with the South African tax man (ironic perhaps) and is trying to get £20m back from David Murray that he invested in Rangers in 2000 so it is in his interest to make Murray look incompetent which is essentially what his statement does (by saying Murray was easily led by Craig Whyte). If Rangers don't see out the season it would be terrible - and I don't know what happens after that. In my opinion the administraitors should have been harder from the start, it feels like they've dilly dallied and keep giving the players more time to come up with different ideas. Ultimately all the players will leave in the summer, Rangers can't win the league and they can't get into Europe - so why not just release the high earners now, save on the wages for an extra 3 or 4 months and play out the season with youth players, completing the fixtures and putting the club in a much better financial shape ?
  • Dave King statement is shocking

    http://www.scotsman.com/sport/football/spl/in-full-dave-king-statement-on-rangers-fc-1-2157179
    Just read that, what an unbelievable state of affairs, who was running that place?

    If they do survive then the club should face serious consequences for what has happened, they shouldn't be allowed to stay in the SPL and should be relegated at least one division.

    There is also the issue of whether they can or should be stripped of some of their trophies.
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