The old Rangers board openly discussed going into administration BEFORE Craig Whyte took control of the club for £1.
In the spring of 2011 speculation was rife about the distressed finances of the club with Dave Murray desperately looking for someone to take control.
Within the blue room of blazers the financial position was clear to see with the club stalling on paying HMRC for the wee tax case as they searched every avenue for new finance.
A cunning plan from Paul ‘potless’ Murray was dismissed because he was always looking for other people to finance his blazer while Dave King was even dodgier with his troubles with the South African authority.
One Friday afternoon at Ibrox the situation was thrown into the public eye as chairman Alastair Johnston described the tax issues as the gorilla in the room to the broadcast media.
Referring to the issue The Independent reported:”It’s like a gorilla in the room and you don’t know what its appetite is.”
When asked if Rangers could go bust, he replied: “The reality is there is a possibility that there could be a judgement that the club can’t pay.”
The following day Chic Young and James Traynor squabbled on Radio Scotland over who was a puppet and who was a cheerleader for the David Murray regime.
Putting detail on that period the Whyte trial today heard from Ian Shanks of Lloyds Bank.
Email 28 April, “concern about board trying to put club into administration before Mr Whyte takes over”
— James Doleman (@jamesdoleman) May 3, 2017
Findlay on the Rangers board: “Dithering, uncertainty?”
Shanks “Those are fair comments”— James Doleman (@jamesdoleman) May 3, 2017
Findlay “negotiations appear to have been going on through the media”?
Shanks: “Correct” #WhyteTrial— James Doleman (@jamesdoleman) May 3, 2017
Email “David Murray is leaning on Alistair Johnson”
Shanks “correct”— James Doleman (@jamesdoleman) May 3, 2017
Findlay “There was a benefit to the Murray group in getting rid of Rangers?”
Shanks “Correct”— James Doleman (@jamesdoleman) May 3, 2017
Shanks says bank had decided to “get out of Rangers” from beginning of Project Charlotte.
— James Doleman (@jamesdoleman) May 3, 2017
Findlay “the bank wanted the Murray group to sell Rangers to reduce the debt”
— James Doleman (@jamesdoleman) May 3, 2017
Despite the extent of the financial problems and a £2.8m unpaid tax bill Rangers (IL) were given a licence from the SFA to compete in UEFA competitions for the 2011/12 season.