Ranges Has Gone Into Administration

It's shocking to find that Rangers has gone into administration.  It's a big club - a massive following, lots of domestic success, but also a lot of debt.  It's scary to think that if they can't work things out with those wonderful tax people, the HMRC, they could disappear from football altogether.

Unfortunately, they are making a loss, which means more debt (including to the HMRC), so they would need to make an agreement with creditors and hope that it isn't blocked by the tax service.

I'm not a Rangers' fan, but it's not good to see any big club going bust.  Scottish football needs this team (whether the fans of the opposition like it or not).  It's good for the game there, the recognition it brings to the Scottish leagues.

Craig Whyte (Rangers' owner) used very positive language when talking about it to the press:

"Rangers will always be here as I've said before. We will come out stronger and come out a better business and most importantly in a position to put as good a team as we can on the pitch and to win trophies which is what we all want as Rangers fans."

 Here's hoping that he is right!  There's more about it in this BBC News article.