Rangers liquidation ‘inevitable’ - director
LONDON - Agence France-PresseRangers’ second-largest shareholder said yesterday the club faced inevitable liquidation as they were unable to solve a financial crisis.
Director Dave King said in a statement he plans to sue Rangers boss Craig Whyte after the Scottish giants were forced into administration last month.
“I do not believe that there is a reasonable prospect that the company can come out of administration,” said King. “I believe that liquidation is inevitable.”
King said the “footballing institution” of the club would survive but the company would not.
Rangers would probably have to reapply for membership of the Scottish FA, King said, a prospect which could mean the club would have to work their way back to the top flight from the lower leagues.
“If managed sensibly, it can result in Rangers returning to its former glory in the shortest time possible,” King said.