Phillipe Clement furious as Rangers hit with 15-points deduction

Yesterday saw Rangers legally place themselves under administration as the Court of

Session heard the club’s dispute with Her Majesty’s Revenue and Customs (HMRC).

After the Ibrox team was promptly docked ten points,

Celtic led the Scottish Premier League by fourteen points and were almost certain to win their first championship in four years.

Rangers have given HMRC ten days to discuss after they announced last Monday that they intended to name an administrator.

which is owed £9 million in unpaid taxes since Craig Whyte acquired the team in May of last year,

£4.2 million from a previous tax bill and penalties, and a possible bill of £36.5 million,

which could increase to £49 million after penalties and interest are added,

when a tax tribunal renders a decision on Rangers’ use of Employee Benefit Trusts from 2001 to 2010.

Next month, that decision is anticipated.

Yesterday morning, HMRC submitted an application to the Court of Session in Edinburgh,

requesting the appointment of an administrator by the court.

In response, the judge gave Rangers until 3.30pm to name their own administrator. Later that day,

Paul Clark and David Whitehouse of Duff and Phelps took over as the club’s administrators. Now, they’ll try to stabilize

This path is regarded as unlikely because HMRC has a history of refusing

to reach a CVA with football teams and because the Ibrox side’s future is unclear.

In addition, the team owes Ticketus, a financial company that lent

Rangers £24.4 million deducted from future season ticket sales,

and Whyte’s company, The Rangers FC Group,

£18 million after he settled the club’s debt to LloydsTSB Bank when he purchased the team from Sir David Murray for £1 last May.

“We had hoped that continued dialogue with HMRC would mean that a

decision on administration would not have to be taken for 10 days while all other avenues were explored,

” Whyte stated. Administrators will undoubtedly strive to find a solution that serves the interests of both the club and its creditors.

We still firmly believe that the club can secure its future,

and we hope that this administration’s tenure will be as brief as possible.”

Get more related news on https://sportviewers.com