The cash crisis at Ibrox has finally struck with 50% wage deferrals applied for the next three months.
Ten days after chairman Dave King walked out on the club the true state of finances has emerged.
In November the club’s accounts showed an anticipated loss of £10m with King unable to fund a share issue to plug the deficit.
VIRUS LATEST@RangersFC manager Steven Gerrard, playing and coaching staff and the club’s Executive Directors agree to wage deferrals for the next three months
More on @SkySportsNews and https://t.co/765QgBcmRi
— Sky Sports Scotland (@ScotlandSky) April 6, 2020
Since Douglas Park took over as Interim Chairman there has been no comment out of the club with none of the non-playing staff put on the Government Furlough schemes.
With court action outstanding from Sports Direct, Elite/Hummel and Memorial Gardens the club could be making a number of pay outs in the coming months with virtually nothing in the way of income to go towards running costs.
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Details of the Ibrox scheme are patchy, news broke firstly from Sky Sports followed later by a statement on the club website.
CLICK HERE for club statement after Sky Sports broke the news.