Glasgow Rangers FC signal intent to go into administration.

[afleitch]

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966

[afleitch]

Oh my. Oh my oh my. :-O
Is there's one thing sure to start a new Irish civil war (and probably a Strathclyde one), it is this!

Culturally it will be interesting to see what happens if Rangers disappear. As a Celtic fan I have mixed opinions on their demise.

[afleitch]

It's official. Rangers are now in administration after Revenue and Customs called their bluff. They are deducted 10 points.
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HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHAAAAAAA!

[afleitch]

Hearts should be next without a doubt. Rangers have a number of problems; they can’t pay the police to police matches, they can’t pay staff, they can’t pay clubs they owe money and Ibrox Stadium is held together by layers of paint. You don’t run up a £75m tax bill without having a huge reservoir of problems. Rangers have been in debt for the best part of 20 years and this has been overlooked while smaller clubs have been forced to economise. Celtic were minutes away from going under in 1994 for a £7m debt but were bought, invested in and have been paranoid about balancing the books ever since (they now generate a profit)

If they don’t get a CVA to protect the company then Rangers will start at the bottom of the Scottish Football League, unless rules are bent in their favour.

Do I want them dead? No. Mortally wounded? Yes.

[afleitch]

There have been some twists and turns but now it appears that HMRC intend to liquidate Rangers F.C.

More soon.

[afleitch]

So what now?

Rangers are likely to cease to exist. It is assumed that the new owners will retain Ibrox and other property assets. They have signalled their intention to launch Rangers as a ‘NewCo’; this club will be a new club and will not be entitled to claim itself as a successor club. It will have to re-apply for admission into the Scottish Premier League. It is probable that this will fail (8 votes are needed) It will then have to apply for admission to the Scottish Football League (starting at Division 3) which in itself is not guaranteed but is more likely. Given the costs of upkeep (and the fact the stadium is falling to bits), it may be necessary for Ibrox Stadium to be sold in the coming years.

The problem is, the SPL don’t really have rules or procedures to deal with this eventuality. By which I mean, they do, but only for small clubs (like Motherwell that briefly went into administration) not for the big two. As a result they have announced that Rangers will appear in the 2012/13 fixtures list…at least until the fate of the club is sealed.

[afleitch]

Quick Update

Rangers F.C has ceased to be, it is due to be liquidised. However Charles Green has purchased Ibrox, the club crest and various other assets establishing a team called ‘The Rangers.’ The club has applied for registration with the SFL and the SPL. The SPL has released it’s fixtures list for 2012/13 containing ‘Club 12.’ On July 4th, all 12 clubs, including the old Rangers vote on whether to allow ‘The Rangers’ in. They need 8 votes in favour. If they are rejected, Dunfermline become ‘Club 12’ and every relegated club moves back up to the league they were in last year leaving a slot in Division 3 which The Rangers can apply for (of course, there is no guarantee that they will be successful)

However there are talks of merging the SFL and the SPL creating a super ‘SPL2’ league of which The Rangers may be a part.

At present, ‘The Rangers’ are out of Europe for three years (as UEFA require 3 years worth of accounts)

So what of ‘Rangers FC?’ Well they are still under investigation. While ‘The Rangers’ don’t have a right to retrospectively claim the history of the now liquidised club, should fans wish to try and claim that legacy then they should know that Rangers FC are now charged with the illegal registration of players and making payments to players out of sight of the football authorities. Therefore, the likely penalty to the old club will be the stripping of league titles and other silverware stretching back some 10 years. Which means ‘12 in a row’ Celtic fans