Fears grow for future of Rangers FC after Ibrox giants go into administration

Feb 15 2012 By Emma Smith

RANGERS have officially gone into administration – raising fears over the 140-year-old club’s future.

Tax officials applied to the Court of Session to appoint administrators immediately on Tuesday, less than 24 hours after owner Craig Whyte signalled the move might be necessary.

But after a legal argument before Lord Menzies, the club were allowed to call in Manchester firm Duff and Phelps to carry out the work.

The move into administration means Rangers will automatically be docked 10 points, effectively putting them out of the SPL title race.

The club was plunged into crisis on Monday after Whyte claimed they could not pay their bills – despite mortgaging off £24million of fans future season ticket cash.

Rangers are awaiting the outcome of a crucial tax case against HMRC, which Whyte, who bought the club for £1 last year, claims could leave them facing a bill of up to £75million.

Whyte also said that staffing levels at the Ibrox club, who have about 230 workers and players, would have to be looked at.

He said: “I’ve taken the decision that the most practical way to safeguard the long-term future of the club is to go through a restructuring process.”

Sport Minister Shona Robison said: “It is now for the administrators to take forward the process of assessing the business and securing an outcome in the best interests of the club, its staff, supporters and the game of football as a whole in Scotland.”

In another bitter blow for Gers fans, Celtic are now 14 points clear in the Scottish Premier League.

An SPL spokesperson said: “As Rangers FC are subject to an Insolvency Event, a 10-point deduction has been applied. In addition, Rangers are subject to restrictions on the registration of players while in administration. We are seeking an early meeting with the administrators.”