Financial fears hit Rangers

Rangers have insisted that their on pitch performance will not be distracted by off pitch speculation about their financial position.   In a statement they complained of ‘a whispering campiagn by people determined to damage the club.’    They have said that they would back a police probe into how court papers were leaked.

Rangers have insisted that their on pitch performance will not be distracted by off pitch speculation about their financial position.   In a statement they complained of ‘a whispering campiagn by people determined to damage the club.’    They have said that they would back a police probe into how court papers were leaked.


Legal papers relating to a claim made by Martin Bain, the club’s former chief executive, have been circulating on the internet.   They included allegations about the running of the club by the new owner, Craig Whyte.  Bain was sacked from his position in May is suing Rangers for more than £1.3m relating to lost annual salaries and bonus schemes.   Bain is known to be trying to speed up his case against the club because he thinks that they could cease trading soon.


On Friday Rangers were taken to the Court of Session over an unpaid £35,000 legal bill, which also resulted in comments being made about their potential insolvency.   The club are involved in a legal battle with Revenue and Customs which could cost the club £50m which they almost certainly could not afford to pay.


The tax authorities despatched sheriff’s officers to Ibrox last month as part of the pursuit of a charge of £2.8 million incurred under the Murray regime. They have additionally frozen part of Rangers’ bank account.


In their statement Rangers described the tax problem as a ‘direct and unwanted legacy of the previous regime.’  John MacMillan, the secretary of the Rangers Supporters Association, said yesterday that the constant speculation made it a very worrying time for fans.   The sooner the tax case was cleared up the better as it was all very damaging to Rangers.