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Flo pleased by Ibrox rebuilding job

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Tore Andre Flo believes that Sevco have learned the lessons from the liquidation of Rangers!

The EBT funded striker seems as out of touch as the SFA and SPL administrators that registered his cut price contract at Ibrox in November 2000.

According to the contracts registered at Hampden Flo was taking home half the weekly wage of Neil Lennon and Chris Sutton despite costing £12m from Chelsea- twice the fee that Celtic paid to Leicester and Chelsea.

Rangers managed to keep details of Flo’s EBT quiet from the SFA but HMRC proved hard to dupe with the club getting a demand for £2.8m plus penalties, charges and fines for Discounted Option Scheme payments used to entice Flo and Ron de Boer to relocate to Govan.

The Wee Tax Case remained unpaid when Rangers went into liquidation.

From a distance Sevco’s rise to second in the SPFL looks like a romantic success story but underneath the story is a little different.

Soft loans and going concern warnings have replaced tax scams as the new club lives way outwith it’s income in a doomed bid to compete with Celtic.

Mark Warburton’s January signing policy tells one half of the story- the other is that the board won’t sanction new contracts for Kenny Miller and Clint Hill.

Flo’s £12m transfer fee and EBT funded salary played a major role in Rangers going into liquidation but from his role as a Chelsea ambassador Flo believes that the garden is rosy.

“I think that they have to be sensible,” the striker told the Daily Mail. “To not make the same mistake again. I am sure they will be careful. It looks that way. So far, I think they are doing a lot of the right things.

To build it up slowly and not rush into things because, with Celtic, they have had the Champions League money and that places them so far ahead in that perspective.

But to me, it sounds like Rangers are doing this the right way. Don’t overspend, slowly catch up. I know all the supporters want a quick fix to go right up there. And I know that it is so difficult to accept being second in Scotland with these two clubs. But I think they are being very reasonable now about building something at the club. And to catch Celtic bit by bit.”

Celtic’s Champions League money has been earned the hard way- by paying HMRC in full rather than attracting better players through tax scams.

Under Walter Smith Rangers enjoyed three consecutive years of Champions League riches while Celtic toiled to compete with a financially doped competitor.

Smith’s legacy to the club was Ally McCoist and Lee Wallace with liquidation starting 12 months after Smith walked away.

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