Rangers have debts of at least £55m not including the big tax case which could run to an extra £75m!
The incredible figures have been confirmed by Duff and Phelps with the club in their eighth week of administration.
Highlighting the cash flow problem Duff and Phelps revealed that the club has brought in just £1m since going into administration on February 14.
The figures have been revealed as Duff and Phelps attempt to put together a Creditors Voluntary Agreement to bring the club out of administration.
Yesterday it was claimed that four ‘final’ bids had been received for the stricken club but with confirmed debts of potentially £100m plus it’s highly unlikely that any of the consortium’s linked to the club will wish to take on that level of debt.
Debts to football clubs total over £3.3m with Celtic amongst five Scottish clubs owed money by the Ibrox side.
Over £2.3m is owed to non Scottish clubs including Arsenal, Manchester City, Rapid Vienna, Orebro, St Etienne and Palermo.
From that last it appears that Ally McCoist’s summer spending spree remains unpaid with money owed for the signings of Carlos Bocanegra, Lee Wallace, Dorin Goian and Alejandro Bdoya.
Loan fees for Kyle Bartley and Vladimir Weiss also appear to be unpaid.
Time to die!!!
time to die
Woah, they’ll have to sell a lot of red & black scarves to make that amount.
Let the debt to us slide,that will really all price get to them.Anyway its a small price to pay to see those bastards disappear in your interior mirror.
finally somethin to savour from dudd & scalps!
after 2 months of torturous news articles & bs from the motley crew (brittish media), we finally hav a statement that even the delusional govan gangster’s can understand.
now is the time for some real journalism -if there are any brave enuff to take on the inbreeds from across the city – to expose the corruption which resulted in the sudden implosion of RFC LTD, for im sure that it is popular belief that the rangers chiefs, over at the SFA, are just as guilty as those directors tht with 1 hand over their eyes & the other (palm out flappin their fingers) takin their slice of the pie!
hail hail
Wow thats a amazing amount of money to have to come up with
what a disgrace that club is, they have no shame.
scum dressed up as decent, that is what they have always been
This is not a case of “mismanagemant” its a case of out and out fraud , over years and years . they have cheated all the other clubs in scotland, And they must be punished accordingly .
Hhhmmm now David Murray foreclosed on Airdrie for what something like £ 30,000….how embarassing.
At least it completely blows away the joke that Duff & Dumber are getting creditors to agree to a CVA….HMRC owed circa £ 90m+ I don’t see ANY potential bidder being stupid enough to take on those debts + having to rebuild the squad when the top earners all walk away cheaply.
Gone & forgotten.
And they still haven’t been forced to sell one player by the administrator. Naismith bid rejected earlier this week. Putting their hands up is fine, but not in place of doing something about the money owed. How can they continue to play teams they owe money to, with players they have not paid for? Who should be monitoring this?
Does anyone know where I can buy a black and red scarf
im sure the brittish army can fit u up with a black n tan scarf..hope this was of help
Milan.
thankyou and goodnight rangers
Moving to Perth WA this week, a city full of Celtic Supporters – can leave happy in the knowledge that they have died, good riddence to them and their kind, hatred will never overcome the love we have for our club and our kind, cowards and cheats, the lot of them!
Hail, Hail – the Champions!
liars, cheats, no principles, bigots, bullets, bombs, £134 million and rising. Oh dear, Lets now look at the powers to be in Scottish football, SFA, SPL……. The World Is looking to see what these gentleman are going to do about this twin decade of absolute cheating are going to do ! Let’s savour this bhoys.