15 February 2012
Rangers Football Club has entered administration over a £75million tax bill meaning it has been docked 10 points, effectively ending its Scottish Premier League challenge. The club appointed London firm Duff and Phelps as administrators yesterday.
The move followed an unsuccessful legal bid by HM Revenue and Customs (HMRC) at the Court of Session in Edinburgh to appoint its own administrator.
It was initially thought that the club had 10 days to make a decision on whether to proceed, but the HMRC action and changed the dynamic of the situation.
Former owner Sir David Murray, who sold his majority shareholding to Whyte in May, has expressed his surprise and disappointment at the news.
Scottish Football Association chief executive Stewart Regan has called for lessons to be learned.
The Glasgow giants who have held a historic rivalry with Celtic - now face a fight to save the future of the club as supporters start to fear the worst.
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A pleasure. You guys were great to deal with and frankly the transaction would not have proceeded without your assistance for which all parties are very grateful.
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Read full articleDirectors Mark Jackson and James Russell jetted off to Denmark on Tuesday for a vital business meeting which is great news for BLG. After leaving sunny...
This is a terrible blow! Im a Rangers fan & not happy! Great article though Victoria.
Posted by David Timbrook on 17/02/2012