The tear-jerking tale of what Rangers being liquidated really meant

Ever since Celtic lifted their 119^th trophy in December Ibrox fans have become increasingly desperate to justify their superiority complex.

Rubbing salt into those open wounds at some point this month Celtic will be champions of Scotland for a 55^th time with Brendan Rodgers’ side two matches away from winning the Scottish Cup. If successful it would be six trebles in nine seasons.

Loyal bears have had three trophy wins in 13 years or four if they wish to include the Petrofac Cup won against Peterhead in 2016.

The co-efficient table has provided a level of comfort but as every bear knows you don’t paint on the wall at the training ground every time you win a knock-out tie in Europe.

To qualify for the Europa League you have to fail in the Champions League, Dinamo Kiev dumped Phil Clement’s side out of the big trophy in August, the Ukrainians also dropped into the Europa League where they finished third bottom with four points, picking them up in the last two matches after starting out with six defeats.

Still to this day, I’ll never tire of looking at the main stand knowing that all those who paid for Club Deck Debenture seats for life were left with sweet f?ç? all when the club were Liquidated. pic.twitter.com/V6YyJxLWkm

— Celtic Curio (@Celticcurio) April 4, 2025

The Main Stand at Ibrox is an odd constructing, build in 1929 the front enclosure had seats added in the early nineties before Murray Metals bolted on the Club Deck with gullible bears rinsed for £1,500 Debenture Seats promising them a seat for life.

As the Internet Bampot community knows, life for Rangers came to a halt in 2012, the heart-breaking yarn above details how brilliantly Dave Murray extracted the Blue Pound.

A variety of schemes were conjured up to pull on the heart strings, the uber-staunch grumbled then stumped up as they trusted Murray to deliver the European Cup to wipe out a long running sore.

Sir David departed with a pound in his pocket while thousands of shareholders and Debenture holders were left with memorabilia from the liquidation of their beloved club.

In May 1990 The Herald reported:

Launching the new debenture issue, Mr David Murray, chairman of Rangers Football Club, explained that it was designed to keep the club at the forefront of Scottish and European soccer by providing the finest stadium possible.

By inviting fans to invest in the club’s future, the bond scheme would allow Rangers to complete the development of Ibrox Stadium, started 14 years ago under the auspices of Willie Waddell, while at the same time provide financial backing to manager-director Mr Graeme Souness to buy new players.

”It has always been our intention to provide our supporters with the finest stadium possible. The Rangers bond gives us the mechanism to make that dream a reality,” Mr Murray said.

Revealing that the club’s overdraft had been reduced to £2m, he added: ”This method of financing the reconstruction of the stand will ensure that Rangers can continue to make money available to Graeme to invest in the best available players and keep the club at the forefront.”

Participants will be guaranteed a seat in the top deck of the new main stand, and the priority right to purchase a ticket for their seat for every Rangers first-team match as well as first refusal on any other qualifying Ibrox event, including non-sporting attractions.

Bondholders who decline to take up their season ticket option will still be able to benefit as the club will sell it and split any premium equally. Ticket prices will be linked to other parts of the stadium.

Mr Graham Watson of Noble Grossart, sponsors of the issue, said that Rangers had placed great emphasis on their financial advisers to ”look after the fans”.

He explained: ”The club instructed the advisers to make the bond scheme acceptable and affordable to all supporters, and we have tried to do that.”

To ensure that happened, Mr Watson continued, Rangers had negotiated a preferential rate personal loan scheme with three Scottish banks to allow fans to invest in the debenture issue. Under this arrangement, it could cost around £40 a month.

Applications for the 6807 bonds, on offer from today, will be treated on a first come, first served basis. While bondholders will be able to pass them on down the generations, they will also be able to dispose of them through a specially organised secondary market.