According to the Evening Times tonight, Rangers are in trouble with the inland revenue and could owe backdated money worth millions of pounds.
HM Revenue and Customs are investigating offshore payments to players dating back over the past few years. This investigation could lead to a breakdown of the takeover bid from Andrew Ellis.
The report in the Glasgow newspaper also claims that Lloyds TSB will use proceeds from season ticket sales as well as the guaranteed Champions League revenue to be made to help clear of the outstanding debt, meaning that there will be no money for Walter Smith, should he still be with the club, to make new signings.
I’m not sure where the reporter is getting his information from regarding the champions league revenue and season ticket money being used to clear the debt, but Real Radio Football Phone In presenter Ewen Cameron has claimed that he phoned Rangers today and was told that the claims are rubbish.
Apparantly Ewen Cameron was told by a ‘source’ that they have known for more than a year about the investigation and it is not anything that is causing them great concern. They also told him that season ticket money and champions league revenue will be made available to Walter Smith to buy new players, and money made from any player sales will also be made available.
It’s all hearsay at the moment, you’ve got one newspaper saying one thing, and a radio phone in saying the opposite. Only time will tell but hopefully the radio presenter’s source is a reliable one and there is a bit of truth in it.
It is a time of uncertainty for the club who should be enjoying the championship celebrations. I just hope that the Evening times have got their facts wrong. The future would not look very bright for the club if what they are saying is true.
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