Rangers on the brink....

[uttoxram75]

http://news.bbc.co.uk/sport1/hi/football/12932160.stm

Rangers chairman Alastair Johnston has admitted that the club could go bust.

The admission came in the wake of recent talks with would-be owner Craig Whyte and half-yearly figures indicating that the club owes £29m.

Johnston insists that, when published in June, annual figures will show that debts have dropped to around £22m.

But he nodded in agreement when asked if it was possible for the club to go out of business if a decision over tax payments went heavily against them.

"The reality is that, if the decision is bad and the club can't pay, there would be a decision to be made," said Johnston, who expects a decision on the purchase of the club in the next couple of days.

"It's not clear where the liability lies. It could be October or November before we find out.

"The situation is not holding up the sale, but it does inhibit new financing and new investment.

"I have no idea of the sum for which we may be liable, but Rangers cannot afford much."

Could the SPL turn into a one horse race?

[trigger]

wow, if can happen to rangers,

then what about the rest of the sunday pub teams?

[Ambitious]

I think someone will take over rangers, they will be fine.. although whilst all the uncertainty is around the club then I think we should finally become a team that bites, they have some good players on their books like kirk broadfoot, Steven Davis, Kyle Lafferty..etc infact Lafferty would fit our big striker role perfectly, either him or Nugent could be a big signing for us... but I digress.

[Boycie]

Looks like Commons picked the right cash cow.