Football, unlike other businesses, exists because of rivalry - not in spite of it. Let's say you own a designer clothes shop. The only other clothes shop on the High St goes bust. That's good news for you. In football terms it would be a disaster because, despite old firm fans denying it, they have the status they do because of the other side. Also, like others have already said, Rangers generate too much revenue.
Quote by ryanSupposedly filed for administration the day. I'm not really clued up on what that actually means besides a ten point deduction, can anyone explain it?
their creditors will appoint a firm to oversea the running of the company on a day to day basis. they'll probably undergo a cost cutting exercise and size up any assets for sale (training ground, players etc). If this happens then I expect rangers will be sold at the end of the season and new investment will be made but if not they could be up the swanny for a few years yet as there's no way the bank will allow guys like cousin to continue on 5K a week.
Administration and bankruptcy are different things, although one can ultimately lead to the other. The administrator looks at the club's assets, debts and credits and tries to work out a way out of administration.
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Sun Feb 12, 2012 1:59 pm
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