How long before a club goes under?

[Fivex]

Rangers director Dave King fears liquidation is 'inevitable'

Rangers director Dave King fears the club will not exit administration and that liquidation is "inevitable" In a statement, King said the club's owner Craig Whyte has "abused the loyalty of fans" by mortgaging future sales of tickets to Ticketus.

King also claims that Sir David Murray had no knowledge that proof of funds supplied by Whyte to purchase the club was secured by season ticket sales.

http://www.bbc.co.uk/sport/0/football/17283440

Not looking good.

[CJ]

There is more money flowing into football than ever before so there should be plenty to go round. These clubs are mortgaging their futures against the gamble of getting promoted or being successful. If they can't be trusted to manage their own finances they should be regulated. If FPP style rules were to be imposed, there were would be a dose of realism and they would broadly live within their means. Ultimately its the fans who suffer.

there is more money however its just inflated wages. so its not actually gone anwhere as such. then there is leakage such as agents. Oh and the top clubs are getting more as a % of total income to the game.

[Rich]

The players are biggest cunts in all this.

Really?

If I offered you double your wage would you reject it?

Players are only looking after themselves and their families.

Unfortunately it is clubs which are run irresponsibly, yes there's fan pressure to be successful but a club needs to live within its means.

Plus the FA needs to be totally dismantled and rebuilt to provide effective management for the league. Carrying out diligence on every club, every season.

At the first sign of financial irregularity steps need to be taken to stop the club racking up huge debts.

[Gingawaria]

If Rangers go into liquidation, Celtic won't be far behind as the league will just die. Such a mess.

[dom9]

What will actually happen if Rangers are liquidated?

I presume they will be expelled from the League?

The assets such as the stadium will be bought by someone I would imagine?

Would they start a new club called AFC Rangers in the lowest league then work their way up again? That would be pretty tragic and pretty funny.

[Rich]

What will actually happen if Rangers are liquidated?

I presume they will be expelled from the League?

The assets such as the stadium will be bought by someone I would imagine?

Would they start a new club called AFC Rangers in the lowest league then work their way up again? That would be pretty tragic and pretty funny.

That would be the likely outcome. A new Rangers would be formed and they'd probably enter the league in the third division.

[Gingawaria]

Don't you have to be elected into the Scottish League as there's no non-league set up?

[Rich]

The hundreds of thousands of Rangers fans would ensure that a new club is formed and the SFA will make sure it gets a spot in the league.

[dom9]

It would be a little bit like Juve getting relegated a few seasons ago, but more extreme. Imagine thousands of Rangers fans turning up at away games in grounds which are little more than parks every other week.

The premier league would also be a complete embarassment with one team in it.

[Gingawaria]

It'd just be a precession, Celtic would have more of a chance of survival if they dropped out of the league and joined the English league at the lowest tier.

[focusedonfootball]

The players are biggest cunts in all this.

Seems like the players at Rangers have all agreed to between 75% and 25% wage cuts. Its the agents who are digging their heels in to protect their percentages.

[dom9]

http://www.bbc.co.uk/sport/0/football/17290640

Rangers player cuts delayed while administrators try to sell club
By Chris McLaughlin and Alasdair Lamont BBC Scotland

Rangers' administrator has delayed a decision on player redundancies until Friday while it attempts to speed up the sale of the Scottish champions.

It follows another day of failing to agree cuts with the playing staff.

And Duff & Phelps fears the "severe cost-cutting" it is contemplating would deter interested parties.

"We are announcing today we are accelerating the sale of Rangers Football Club," said joint administrator David Whitehouse.

"The club is in a perilous financial situation and that should not be underestimated.

"Regrettably, we have been unable to agree cost-cutting measures with the playing staff on terms that will preserve value in the business.

"We understand the players' position as the scale of wage cuts required to achieve these savings without job losses were very substantial indeed.

"In view of this, we are faced with a situation of making redundancies within the playing staff on such a scale that would materially erode the value of the playing squad."

Wingers Gregg Wylde and Mervan Celik agreed on Tuesday to leave the club voluntarily, but BBC Scotland believes that seven or eight players had yet agreed to deals being offered by the administrator.

Now the administrator is pinning its hopes that a buyer will come forward before it has to impose widespread cuts.

Former Rangers director Paul Murray has already stated that his intention to table a conditional offer for the club by 16 March, while two other parties are thought to have expressed an interest.

"We are striving to strike a balance where cost-cutting measures can be implemented but do not destroy the fabric of the playing squad to the extent that it will inhibit the prospect of a sale," said administrator Whitehouse.

"However, no-one should be in any doubt that, in the absence of sufficient cost-cutting measures or receipt of substantial unplanned income, the club will not be able to fulfil its fixtures throughout the remainder of the season.

"As a result, we are expediting the sale process and over the next few days we will be holding discussions with prospective purchasers who have declared their interest. The manager, Ally McCoist, will play an integral part in these discussions.

"If, however, it becomes apparent that the sale process cannot be accelerated, there will be no choice but to implement very severe cost-cutting measures at the club."

The BBC had been told that the club's biggest stars were being asked to take wage cuts of 75%, middle earners 50% and the lower paid members of the squad 25%.

Duff and Phelps said that an agreement in principle on the salary reductions had been reached earlier on Tuesday, but it is understood that personal conditions, such as whether players would be able to leave in future, were the sticking point.

The administrator said that, after "a very frustrating day", it would resume again on Wednesday morning in the hope that the issues could be resolved.

Scotland Under-21 winger Wylde, who said he offered to walk away with no redundancy package, and Celik, a Sweden Under-21 international who moved to Ibrox on a three-and-a-half year contract in January from GAIS in Gothenburg, had their offers for voluntary redundancy with no pay-off accepted.

Some players have agreed reduced terms to stay but with incentives as the club strives to make monthly savings of £1m.

These include free transfers in the summer or being allowed to leave for reasonable offers.

However, others failed to strike a deal and it is understood the players, who are among the highest earners at Ibrox, have been unable to agree changes to their contracts in return for the cuts in salary they are being asked to take.

BBC Scotland has learned that the club's running costs between now and the end of the season are about £10m and the administrators have highlighted the need to fill a shortfall of £4.5m by the end of the campaign.

[spud_gun]

If Rangers go into liquidation, Celtic won't be far behind as the league will just die. Such a mess.

Ill informed nonsense.

[lfcred]

Not complete nonsense! The tv deal with sky sports for the next couple of years will apprently be cancelled should one of the clubs go out of existence! Where would they generate the income from then? Celtic and rangers are the main product of the league, without one of them the league is worthless!

[RichC]

Ill informed nonsense.

Both sides need each other whether they care to admit or not, the tv deals and sponsorship will dry up pretty quickly without either a rangers or a celtic.

Scottish football needs to ensure that both clubs stay alive