Ally McCoist admits liquidation could be the way ahead for Rangers

Rangers manager Ally McCoist has admitted that liquidation of the troubled club is a possibility.

The bid from Sale Sharks owner Brian Kennedy was rejected yesterday leaving the Blue Knights competing with two other mystery consortium’s for control of the club.

Chicago based Club 9 Sports are believed to have tabled the highest bid for the clubs assets but their intentions are unknown with liquidation reportedly part of their plans.

With the deadline for European football set to pass them by McCoist is realistic about the options facing the club after seven weeks in administration.

“Liquidation would not be my preferred option as a supporter and indeed as the manager of the club,” the Ibrox boss stated.

“The best way to put it is, if I was sitting here as a businessman, it might be the way ahead.

“But sitting here as a supporter, with a love of the club, it wouldn’t be the preferred option.

“I can totally understand the business angle and it probably would suit a lot of business-minded people.”

If Rangers are liquidated it means that the club founded in 1873 would no longer exist.

A phoenix or newco club would almost certainly be set up but would encounter a number of problems attempting to get back into football.

With a number of court actions on going and confusion over the Ticketus deal it’s unlikely that a new club would be able to play football next season.

Under SFA rules any club applying for membership must be able to produce three years of audited accounts which would prevent a ‘new Rangers’ from joining the SFA until 2015 at the earliest.