Friday, 1 April 2011

Rangers Football Club has lots of debt

In news that will make force some people to tears, be it joy or fear, Rangers chairman Alastair Johnson admits that Rangers might run out of money if certain tax decisions go against them.  Hooray!

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.
I've met Walter Smith before and he's actually very nice.  I was selling him a computer for his wife at the time though so I don't really what I should have expected and it still won't stop me from being delighted when something bad finally happens to the blue half of the Old Firm.  And the green.  Regardless, expect someone to rush in and save Rangers with their millions of pounds if it did come to it and then the SPL can continue to be probably the worst league in the entire world.