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Rangers may be unsellable

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Submitted by WG on Wed, 28/04/2010 - 08:08

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.

Related Clubs: 
Rangers Football Club plc

Hogwash!!

Submitted by Anonymous on Wed, 28/04/2010 - 08:57.

Absolute nonsense!  I've heard so many contradictory reports in the media regarding Rangers and their financial predicament.  Just the other day I read that Rangers had shot themselves in the foot by winning the league (and thus securing the Champs League money) as this would make the club more financially viable and would therefore increase the sale price!  Surely by that logic the fact that the taxman is now owed £24M makes the club more attractive to potential buyers?  All complete nonsense!!  I also keep reading that Rangers are in debt to the bank to the tune of £30M (approx).  This is the same figure that has been quoted for 18 months!  Gers have significantly reduced the wage bill, sold some players and won the league twice (thus securing approx £24M+ in Champs League money).  How can they still owe £30M???

This isn't a new problem

Submitted by Anonymous on Wed, 28/04/2010 - 08:27.

This isn't a new problem and any potential investors would be made aware of the on-going tax investigation that is being handled entirely by David Murray's parent company. Parroting the newsfeeds does not an insightful website make.