Originally Posted by
CropleyWasGod
It's not a daft question.
In reality, if they go into administration (as opposed to liquidation), it will probably be a very short one, and liquidation would follow.
However, in the hypothetical situation that administration lasts any length of time,.... the administrator would strike a balance between selling off those players that could get some money in, whilst retaining a core squad that would be attractive to a new owner. The Rangers' administrators favoured the latter, but they were in a different (and relatively healthier) situation.