RANGERS manager Ally McCoist is confident Rangers will survive “a dark day” in the club’s 140-year history and emerge from administration in a stronger position.
The Scottish champions were forced into administration yesterday over an unpaid tax bill of €10.75 million, accrued since Craig Whyte’s takeover of the club in May from former owner David Murray.
The Scottish Premier League immediately docked Rangers 10 points meaning they now trail leaders Celtic by 14 points, with the title race effectively over as a contest.
McCoist has moved to assure worried fans that everybody at the club will now pull together to ensure Rangers come through a turbulent period with a stronger future.
“That’s the aim. That’s the thing we want to assure the fans and the players and the workforce of,” said McCoist. “We will be doing everything to make sure Rangers comes out the other side far better and far stronger.
“There’s no getting away from it. It has been a very disappointing and black day. We have 140 years of fantastic history at this football club but the most important thing is that we look to the future and the next 140 years.
“Going into administration obviously wasn’t ideal but it’s the opinion of many people that it might be the best thing for this football club.
“Everybody at this club wants the club to continue, which it will do that’s for sure, and this might just be the best way forward. So we have to adjust to what’s happened, react to it and take the club forward and we aim to do that.”
Earlier in the day Rangers appointed corporate financial advisers Duff and Phelps following several hours of legal debate with Her Majesty’s Revenue and Customs.
Whyte argued there was no reasonable alternative to administration unless an agreement could be reached with HMRC, due to a combination of the club’s ongoing financial situation and the impending result of the first tier tax tribunal.
Whyte stressed the importance of the so-called “big tax case”, which he claims could cost the club up to €90 million, and Rangers said a final decision would be taken in 10 working days.
But it emerged in court yesterday that Rangers had lodged their intention on Monday moments before HMRC attempted to put them into administration.
And it was later confirmed HMRC’s action had nothing to do with the dispute surrounding payments made to employee benefit trusts from 2001 to 2010, which was heard at a tribunal last month, but on unpaid bills from Whyte’s tenure.
An HMRC statement read: “We can’t discuss specific cases for legal reasons but tax that has been deducted at source from the wages of players and support staff such as ground keepers and physios, must be paid over to HMRC.
“Any business that fails to meet that basic legal requirement puts the survival of the business at risk.”
The move initially raised questions over Rangers’ next SPL game, against Kilmarnock at Ibrox on Saturday, as Strathclyde Police sought assurances they would be paid for policing the event.
The force later confirmed talks had been held and the game was being planned as usual.
