Rangers FC administrators make 'good progress'

 

Rangers fans' use an inflatable billboard to get their message across to club owner Craig Whyte outside Ibrox

The administrators of Rangers FC have said they have made "very good progress" within the first 24 hours of running the club.

Paul Clark and David Whitehouse, of Duff and Phelps, said their first priority was to ensure that the club continued to function.

They will be holding meetings with staff on a weekly basis.

Meanwhile, First Minister Alex Salmond admitted he was "very concerned" about the future of Rangers.

Mr Salmond has appealed to the club and HM Revenue and Customs to hold talks about how any money owed could be paid back and over what timescale.

Rangers was placed in administration on Tuesday after a legal stand-off at the Court of Session in Edinburgh.

'Difficult time'

Start Quote

Supporters can be reassured that Rangers will continue as a football club and we hope to reach a stage as soon as possible where the club can emerge from administration”

End Quote Paul Clark and David Whitehouse Duff and Phelps

Owner Craig Whyte lodged papers at the court on Monday indicating that the club was considering administration within 10 days.

However, Rangers' hand was forced after HMRC - one of the club's main creditors - filed to have its own administrator appointed.

Both parties eventually reached agreement that Mr Whyte's preferred administrators Duff and Phelps would be appointed.

The company later confirmed HMRC's action stemmed from the alleged non-payment of £9m in VAT and PAYE dating back to last year when Mr Whyte bought the club from Sir David Murray.

Earlier Sports Minister Shona Robison told the administrators she wanted to see an outcome "in the best interests ... of the game".

She said a key concern was the "future of those employed by the club and the potential economic impact of administration".

The statement from Mr Clark and Mr Whitehouse said the club's business partners had gone "the extra mile" to ensure that Saturday's home match against Kilmarnock goes ahead.

Paul Clarke and David Whitehouse from administrators Duff and Phelps The administrators will spend the next few days getting control of club finances

"We had extremely constructive discussions with Strathclyde Police and we can confirm the match will take place," they said.

"We fully recognise this is a difficult time for players and staff at the club and are extremely appreciative of their reaction to the situation.

"In broad terms, supporters can be reassured that Rangers will continue as a football club and we hope to reach a stage as soon as possible where the club can emerge from administration.

"We have had expressions of support across the political spectrum in Scotland within the last 24 hours and there is clearly a desire to see Rangers come through this situation successfully."

They added: "For clarity, the cost structure of the club and ongoing losses were such that the club had outstanding liabilities to HMRC.

RANGERS STAFFING

  • Total staff - 177
  • First team players - 32
  • Coaching staff - 11
  • Under 19s players - 35
  • Academy coaches - 7
  • Rangers media/PR - 13
  • Marketing/Hospitality/Events - 22
  • Ground/Facilities/Maintenance - 16
  • Ticket office - 20
  • Football in community - 10
  • Executive/Secretarial/Accounts - 11

Not included are Under 17 players, scouts, match day staff, security or catering

"These were the subject of discussion and clearly HMRC wished to see them resolved as a matter of urgency. We are involved in dialogue with HMRC and will work with them constructively, as is the case with all other key stakeholders."

The club has decided to postpone its Hall of Fame Dinner and Awards Ceremony which was due to take place at the Glasgow Hilton on Sunday.

Meanwhile, a spokesman for Tennent's said the brewer would continue its deal with Rangers despite the club being in administration.

"Tennent's has invested in Scottish football for over 35 years, most recently as the main sponsor of Rangers and Celtic," he said.

"As such we are saddened to hear the news that Rangers have gone into administration.

"We are in constant touch with Rangers Football Club during this process and will be in close contact with the club's administrators going forward.

"It is our intention to continue our sponsorship and will keep the situation under review."

 

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  • Comment number 115.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • Comment number 114.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • rate this
    0

    Comment number 113.

    As someone who has been there, done that, with their own club (Exeter City FC) and come out the other side thanks to the involvement of our Supporters' Trust here's hoping the true Rangers fans can find a way to save their club and set it on a stable, sustinable, footing for the future.

    Good luck all at Rangers, fingers crossed for you.

  • rate this
    0

    Comment number 112.

    Despite what the FA and the Primeminister claim, the biggest problem in footbal isn't what adjective is used to describe black footballers. Its the massive amount of debt taken on to pay "the going rate" for players.

  • rate this
    -1

    Comment number 111.

    Football should be salary capped like basketball's NBA. A national salary level is set for every club, and a tax penalty is imposed for every dollar the club goes over the limit. Bankers and Hedge-Fund managers get it in the neck for big bonuses and wages, so why should footballers be exempt? Everybody else has to get by on a lot less.

  • rate this
    +1

    Comment number 110.

    Wow, this makes the Greek national debt problem just a sideshow

  • rate this
    0

    Comment number 109.

    Sorry for the groundsmen, tea ladies, etc. but good riddance to the rest. Football sold it's soul to the money devil years ago and now it's time to pay the piper.

  • Comment number 108.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • rate this
    0

    Comment number 107.

    If football clubs were indusry then a large %age of all football clubs would have gone bust by now. If my company had debts of £49m it would have gone through well before now! How about cutting the players extortionate and ridiculuos salaries - i think not! How about the footballers playing for nothing with the salaries that they have accrued over the years - i think not!

  • rate this
    -1

    Comment number 106.

    Strange that HMRC couldn't be more patient. Hardly in the tax payers interest to force the issue when it means they probably won't get much of their money anyway! A high profile power trip perhaps?

  • rate this
    0

    Comment number 105.

    Ilkeston Town FC was liquidated in 2010 for owing HMRC £47,000. Rangers allegedly owe in the region of £49 million. Can someone give me one good reason why Rangers should not go the same way if it is proven they owe this amount and cannot repay it?

  • rate this
    +1

    Comment number 104.

    i wonder if this article, or others on the subject, is going to generate the highest number of:
    "This comment was removed because the moderators found it broke the house rules. Explain" comments
    Just goes to show the high level of emotion on this subject, but also surfaces the enmity, bile, filth, bad language, sectarianism etc etc that surrounds the "institution" that is Rangers and Celtic

  • rate this
    0

    Comment number 103.

    I'm guessing the smart money moved out last May, besides is that not what always happens during a recession aka smart money! Certainly for the fans / lower echlon employees a worrying time. Would it not be great if all players gave gratis service for 3 seasons! Yes indeed some are truly skillfull but this is where do it for club/country or just money, comes in!

  • rate this
    0

    Comment number 102.

    Why are football clubs left to accrue such huge amounts of owed tax? They should be treated the same as any other orgamisation or individual who owes tax, pay it as they go along, with absolutely no leeway. If all the football clubs paid their tax our economy would be a whole lot better. I am sick of there being one rule for us and one for them, what small business would be allowed to tax evase

  • rate this
    +1

    Comment number 101.

    SKY TV has wrecked football like many other sports.

    Clubs used to pay the players from gate money but now they rely on money from TV. Get rid of Sky, let clubs go back to paying players a reasonable wage, and no more clubs will suffer.

    Its greed that has led to this situation for Rangers and Portsmouth and more clubs will follow

  • rate this
    +1

    Comment number 100.

    This is typical football, have hundreds of millions thrown at you, win I don't know how many trophies and still manage to let it all go down the drain. This just strengthens my theory that every one involved in football needs to take remedials lessons in maths, grammar in manners. I have very little sympathy, football is its own worse enemy. Maybe that money can be spent on something worthwhile.

  • rate this
    +3

    Comment number 99.

    Another example of the way football lives in its own weird financial bubble seemingly at odds with what is happening in the real world. It really is about time this industry came back down to earth and rejoined us 'real' people.

  • Comment number 98.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • rate this
    +2

    Comment number 97.

    Is this just the tip of the iceberg as many clubs operated in the same fashion.Rangers debt is comparitevely low compared to many teams in the EPL.

  • rate this
    0

    Comment number 96.

    As I understand it, Rangers have sold 4 years ticket rights so they actually now have No money coming in.
    If I was an administrator I would fail to see how this club is now a business.
    Without a benefactor coming in, then it is doomed & could put at risk the whole of Scottish football.
    These are dark days indeed.

 

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