THE RECENT problems experienced by Glasgow giants Rangers were, in fairness to the present owner, a long time in the making!
The seeds of Rangers’ current crisis were laid when previous administrations decided they were going to bring the best players possible to Ibrox even if it meant financial meltdown at some point in the future.
To do this they offered to pay players high, unrealistic wages through Trusts which the taxman is now challenging in the courts.
The real problem though was very simple as it was costing £45 million per year to run Rangers while income was averaging £35 million.
Had it not been for some sleight of hand tax deals, this crisis would have arrived long before now.
In the short term, Glasgow rivals Celtic have “profited” as Rangers incurred a 10 points penalty for going into Administration.
Long term, however, Celtic, need a Rangers who are viable entity or the SPL would become a one horse race and gates and sponsorship would fall.
Celtic issued a statement last week stating that their financial model was a stand alone and that they didn’t need Rangers, but I don’t believe that when the facts are examined.
It may be Rangers in the dock, but Celtic will anxiously watch the final outcome.
Read more from the Doc in the Journal every Tuesday