Not if there's no cash, though :greengrin
They will already have taken a payment on account. In light of today's announcement, they will probably have taken some more today.
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No one will buy that mob whilst there is £60m potentially due to HMRC. Only way they would be a viable purchase is without that debt and the only way that will happen is by liquidation.
But surely that would be postponed till later?
What choice do they have at that point? Not enough money to make the end of the season, staff who won't accept a pay cut...
Would the players be put off pressing for legal action since paying those wages would liquidate the club and they'd get squat anyway?
Presumably, but then most of these players, certainly the big earners will know that come the summer, they'll be at another club, maybe even earning more... Guess we shall see just how 'Rangers through and through' the likes of McGreggor are...
This is but the Confederations Cup compared to the full on World Cup that thread will be :greengrin
Well guys for the first time i actually think that Rangers are really going to pop.
There is a wonderful error on Sky Sports News just now stating that "rangers director Paul King states liquidation is inevitable'......seeing as that's my name it makes for some lovely viewing.
so basically.... they are looking for someone to come up with £30m within 48hrs
and also have sufficient funds at hand to pay a possible £70m tax bill.
seems easy enough :greengrin
I would like to register my interest in this great Scottish institution.
I will start the bidding with ....
1x Fifty Pence Coin
Wagon Wheel
Signed photograph of Ian Paisley
Yours Faithfully,
Blaikie
Just up on STV website, does not sound good for Rangers at all: -
Rangers' administrators say the club will not fulfil its remaining fixtures this season unless either a buyer is found imminently or drastic cuts are made to jobs.
Talks with the club's players over an agreement to cut salaries by up to 75% for the next three months have collapsed.
A desire from a number of the first team squad to have clauses inserted in their contracts, which would see them leave in the summer for free or for a "reasonable" price, is understood to have led to the impasse. A statement from co-administrator David Whitehouse said: "The club is in a perilous financial situation and that should not be under-estimated.
"Regrettably, we have been unable to agree cost-cutting measures with the playing staff on terms that will preserve value in the business.
"We understand the players' position as the scale of wage cuts required to achieve these savings without job losses were very substantial indeed.
"In view of this, we are faced with a situation of making redundancies within the playing staff on such a scale that would materially erode the value of the playing squad."
Whitehouse explained that while substantial savings needed to be made immediately, some value had to be retained within the squad to make it an attractive proposition for possible buyers.
However, the administrator warned that substantial cuts would be imposed if no other solution is found quickly.
"We are striving to strike a balance where cost-cutting measures can be implemented but do not destroy the fabric of the playing squad to the extent that it will inhibit the prospect of a sale," he said.
"However, no one should be in any doubt that in the absence of sufficient cost-cutting measures or receipt of substantial unplanned income, the club will not be able to fulfil its fixtures throughout the remainder of the season.
"As a result, we are expediting the sale process and over the next few days we will be holding discussions with prospective purchasers who have declared their interest.
"The manager, Ally McCoist will play an integral part in these discussions. If however it becomes apparent that the sale process cannot be accelerated there will be no choice but to implement very severe cost cutting measures at the club."
http://sport.stv.tv/football/scottis...-action-taken/
They are in a very difficult position there.
If they do that, said players can sue for the remaining portion of their contract. A smart lawyer would apply to have funds in RFC ring-fenced (as Martin Bain, I think, did), pending the Court case. That would just get us back to the same position, if not worse.