Is this the End for Glasgow Rangers?
Glasgow Rangers today went into administration because of debts which are believed to total around £75 million, The Administrators will take over the running of the club which has been in existance since 1872.
The Current Premier league Champions, Rangers have had 10 points deducted from the current league table which Puts them in second place 14 points behind Celtic killing off any hopes of them winning the league this season.
The Club also have a deadline to get their financial affairs in order before the 31st of March or face expulsion from European competition next season, this expulsion from European competition could be the final nail in the coffin for Rangers because the money earned from European games could provide a lifeline for them.
Will this be the end of Glasgow Rangers? Millions of fans around the world are hoping for a saviour to come along and save the day.
Being under administration does not mean the end of the Ibrox club unless the Administrators decide that the clubs debts are in no way repayable there could be a way back for Rangers but it could mean selling off players to cut the wages bill and selling off some of the clubs assets to pay off some of their creditors.
The worst case scenario for the millions of Fans is that the club could go into liquidation become a member of the elite few teams in Scotland that are just a distant memory.
The loss of Rangers could have a massive impact on Scottish football as a whole as Smaller clubs who rely on the income from matches against teams like Rangers would see a sharp reduction in their income too putting their finances underpressure.
Glasgow Rangers Forever
Glasgow Rangers have a long and successful history, having won more silverware than any other football club in the world. to see the club go out of business and end up in the annuls of Scottish History would be wrong on many levels and would put a heavy burden on the future of Scottish Football, I am a True Blue fan and I pray that Rangers can find a way to survive this situation.
The administrators took over the club today lets hope that they keep with the clubs motto and do us proud with a cry of No Surrender.
GAWN THE GERS!!!!!