iPhone app iPad app Android phone app Android tablet app More

Rangers Squad Agree To Wage Cuts In Bid To Save Club's Future

The Huffington Post UK  |  By Posted: 9/03/2012 15:19 Updated: 14/03/2012 16:52

Rangers

Rangers players have started signing documents that will see them take broad wage cuts in a bid to stave off significant redundancies.

The players have agreed to substantial pay decreases to avoid administrators Duff and Phelps making significant redundancies. The administrators are targeting savings of up to £1m a month.

Staff at Ibrox also said there will be no redundancies at Ibrox stadium.

Rangers players arrived at the Murray Park training ground on Friday to thrash out deals, many thought to include causes enabling them to leave for a lower fee than what would have otherwise been accepted. Steven Naimsith and Steven Whittaker were the first players to accept 75 per cent fringes.

The agreement was believed to be essential in enabling the Teddy Blues to complete their campaign.

Gregg Wylde and Mervan Celik became the first players to be made redundant by Duff and Phelps earlier this week.

Yesterday the Scottish Football Association's two-week inquiry concluded that Rangers owner Craig Whyte was not "fit and proper" to hold a role at a football club.

He owes the club £9m he contractually promised when he took over in May 2011, and lawyers acting for the administrators have gained a court order to seize a preliminary £3.6m from Whyte's solicitors Collyer Bristow.

The Scottish champions look unlikely to meet the March 31 deadline to secure a license to take part in European competition next season.

Rangers legends Walter Smith, Sandy Jardine and manager Ally McCoist will launch a fund at Ibrox on Saturday at noon.

FOLLOW UK SPORT

Rangers players have started signing documents that will see them take broad wage cuts in a bid to stave off significant redundancies. The players have agreed to substantial pay decreases to avoid ...
Rangers players have started signing documents that will see them take broad wage cuts in a bid to stave off significant redundancies. The players have agreed to substantial pay decreases to avoid ...
Related News On Huffington Post:
 

 
 
  • Comments
  • 11
  • Pending Comments
  • 0
  • View FAQ
Post Comment Preview Comment
To reply to a Comment: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to.
View All
Favorites
Recency  | 
Popularity
flymo42
24 Fans
01:00 PM on 03/13/2012
I think it is a wonderful gesture by the players to DEFER their wages.......it is not a pay cut.

It is wonderful though, they are deferring to help pay the Administrators fees and in a club that had lived above its means for more than 20 years, evaded tax and used financial doping to ruin Scottish football.
Before Dave Murray bought into the club, 4 teams were challenging for the Scottish championships on a regular basis and playing for European titles, 4 successive World Cup qualifications....

Since Murray took over and began using Bank of Scotland overdrafts to buy championships and trophies how many major tournaments have Scotland actually been able to qualify for or even present some kind of challenge?

The real issues regarding this have yet to surface, the Rangers team as it has been, will be wiped out - good riddance to bad rubbish.
Permalink  |
photo
HUFFPOST SUPER USER
Seaniebhoy
301 Fans
07:02 PM on 03/13/2012
I'm pretty sure it was a full on wage cut. Duff and Phelps rejected the player proposed deferral because even in you defer the wages, you still must pay the tax on it.
Permalink  |
flymo42
24 Fans
07:32 PM on 03/13/2012
There are better informed than I regarding the dealings of D&P - I don't really think that they are doing much apart from appeasing the supporters until the company bleeds out and liquidates or the big tax case hits, whichever comes first. I can appreciate that the Admins job is to maintain the business as a going concern, they claim that the bills have to be reduced by 1Mill per month - wage deferral or cuts are not enough. I would not accept much of what D&P say in the media as anything close to the truth.
Permalink  |
Tiredandweary
0 Fans
09:23 AM on 03/10/2012
Whilst it is a fabulous gesture by the players to cut their unsustainable salaries it will be interesting to see how many of the current squad are there for the new season.

Why do football clubs have the privilege of building massive debt - the likes of you and I get fined if we are late with our tax return!

The whole debacle has just made this seasons Scottish Premier League even more unattractive as a competition.
Permalink  |
photo
HUFFPOST SUPER USER
Seaniebhoy
301 Fans
12:45 PM on 03/13/2012
I agree, had this been a bank or services firm I imagine the public reaction would have been a bit worse.
Permalink  |
ontogenes
8 Fans
10:48 PM on 03/09/2012
Let me,as a Celtic supporter,applaud the Rangers' football management and players for their sacrifices to keep the club afloat and to save the ordinary jobs of those who work in an ancillary capacity at the club.
For the sake of Scottish football's economic survival at SPL level at least,both Celtic and Rangers are needed to keep many other clubs economically viable because the revenue they attract without them is minimal.Just look at the average gates(excluding the games against the Old Firm) and you see the predicament the loss of one or both would be.
Perhaps it is time we adopted the principle in operation within American football that the least successful clubs have first pick of the better players to ensure a spread of the honours throughout the SPL.
Permalink  |
photo
HUFFPOST SUPER USER
Seaniebhoy
301 Fans
12:54 PM on 03/13/2012
Are you mad? That type of thinking is rubbish and impossible, especially in Scotland. Firstly, the provincial teams in the SPL could hardly afford the transfer fees, let alone the weekly wages that the players market rate will command. Secondly, it is contrary to EU law to in any way restrict the free movement of labour or to somehow limit the value of that labour. For better or worse, the system is the system.
I think if anything, the temporary liquidation of Rangers may be a good thing for Scottish football...Scotland only has 3 Divisions of Football outside the Premiership...in a worst case scenario of Rangers going bust, stripped of its assets and Relegated, the "NewCo" Rangers 2012 should begin life in the 3rd Division. In its place another SPL side - maybe Hearts, maybe Motherwell - will step in and have the opportunity to line up at the UEFA cash machine that is European Football...more money means better talent meaning better football. In the meantime NewCo Rangers will more than likely be back into the SPL in 3 years and hopefully find an improved landscape.
Permalink  |