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Former SPL chief fears insolvency event at Ibrox

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Roger Mitchell has added to the speculation that another insolvency event is brewing at Ibrox.

Mitchell was the first ever Chief Executive of the SPL during which he turned a blind eye to the incredibly low contracts being registered by the old club from Ibrox.

Before he stood down in November 2002 Mitchell witnessed the cut price contracts registered for Tore Andre Flo and Ronald de Boer while Celtic were paying £30,000/week to sign Chris Sutton, John Hartson and Neil Lennon.

After a raid on Ibrox ordered by the Metropolitan Police the side letters on those contracts were uncovered after years of denial to HMRC. Eventually a bill for £2.8m was presented to the club that remained unpaid in June 2012 when a CVA was refused pushing the club into liquidation.

Mitchell’s successors have refused to introduce any form of Financial Fair Play which has brought the current club from Ibrox to the brink following successive years of multi million pound losses.

With Sports Direct due compensation for breach of contract for last season, and more importantly cutting off a future revenue stream for Dave King’s club administration looks highly likely unless a wealthy blue nose can come in to pay off Sports Direct and the loan to Close Brothers.

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