Rangers FC may be unsellable after a tax probe into the payment of players through offshore accounts could nearly double the club’s debt. They could face a bill of £24m plus legal costs.
Rangers FC may be unsellable after a tax probe into the payment of players through offshore accounts could nearly double the club’s debt. They could face a bill of £24m plus legal costs.
The cash strapped Glasgow club had one piece of good news when Bayern Munich’s victory over Lyon gave them an automatic place in the group stage of the Champions League. This will give them a payday estimated to be worth £12m. However, that will fall short of solving their financial problems.
Manager Walter Smith has made it clear that the club cannot be allowed to continue to drift and needs a more settled future. That could come through a bank plan, a new owner or a supporters’ buy out, although that seems unlikely. However, the latest news makes the club an even less attractive prospect.