Rangers players negotiate cut price transfer fees
After a warning that the club may be unable to complete their fixtures’ administrators Duff and Phelps announced last Friday that they had struck a wages deal with the players to ensure no redundancies.
Top earners such as Allan McGregor, Steve Davis, Steven Naysmith and Kirk Broadfoot agreed to 75% pay cuts with other lesser paid players taking a 25% cut for the next three months.
Those deals took over a week to negotiate but weren’t without cost to the club.
Every player that has agreed to the wage cut has a written sell-on value in their contract that allows them to quit Ibrox in the summer for a knock-down fee.
Duff and Phelps are expected to begin serious negotiations today to sell the club to interested parties but it seems unlikely that there will be a rush of offers for the stricken club.
With merchandising and catering outsourced and Ticketus due the money for 25,000 season tickets for the next three seasons any new owner faces a massive task to turn Rangers into a viable business.
News that the clubs top players have effectively negotiated cut price transfers in the summer will be a further blow to any potential investor.
With most other parts of the business outsourced; the players, Ibrox Park and Murray Park are the only real assets that a new owner would acquire.
CLICK HERE for article from One Star
CLICK HERE for Campbell Ogilvie: I was a member of EBT scheme
CLICK HERE for Blue Knights leader prepared to walk away
Follow Video Celts on Twitter, Facebook and YouTube