Duff and Phelps have told the Rangers first team squad that they are running the club on a month to month basis.
After three days around the negotiating table talks broke up again yesterday with no sign of any progress being made towards finding savings of £1m a month from the clubs running costs.
Further talks are expected today as Duff and Phelps begin their fourth week running the club.
During yesterday’s talks it’s believed that Duff and Phelps rejected the offer of a 75% wage cut across the entire playing staff because they may have to adjust their figures in a months time as they attempt to uncover the true extent of the clubs finances.
Hard facts are thin on the ground but in an interview with the Daily Record in September Craig Whyte gave the first indication of the problems in store at Ibrox.
Shortly after handing out new contracts to Allan McGregor, Steven Whittaker and Steve Davis that took the wage bill over £20m Whyte warned: “Hard decisions will have to be made and we’ll start making them very quickly.
“I put myself in the position of owning a football club so I can’t moan about it now, although the payroll every month is not something I find enjoyable.
“Decisions will have to be made and there will be pain but no matter the outcome of the bigger tax case we will still be here.”
During the January transfer window some progress was made in reducing the players wage bill.
The departures of Nikica Jelavic, David Weir, Juan Ortiz, Matt Mackay and loan deals for John Fleck, Kyle Hutton and Grant Adam trimmed £350,000 off the monthly wage bill.
With the running costs standing at £1.7m per month in September and £0.35m being cut in January a further £1m reduction will leave Ally McCoist’s squad decimated once Duff and Phelps finally get around to implementing the cuts.
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And so it begins the rats are not waiting to get pushed they have started jumping from the sinking ship that is rankers wylde and celic have jumped who’s next we should start a book. Jelly and ice cream anybody hail hail
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Never forget, Duff & Phelps are the bigotdomes prefered administrators …. we all know why !!!
They’ve been there 4 weeks already, so what’s happening ????
STOP PUSSYFOOTING ABOUT, START DOING THE JOB YOU WERE APPOINTED TO DO.
START SWINGING THE AXE …STARTING WITH “DIRTYHOUSE” LAFFERTY AND THE WEE FLUTE PLAYER.
KEEP THE FAITH AND KEEP GLOATING BHOYS
I hear duff and phelps are costing them around 20-30k a day for the 8 administrators that are there! I imagine those admins will be milking it for all it’s worth…
All joking aside its not funny there’s people who love the club supported the club all there lives and also they are players and staff losing there jobs I for one don’t find it funny and hopefully PORTSMOUTH will come out of this terrible situation. To any buns reading this GIRUY hope it hurts and the pain is long. 1 jock stein and 1 Neil Lennon HAIL HAIL
duff and duffer should be investigated;not doing their jobs.definately homers ! three weeks and still next to no movement.