IS THE BEAUTIFUL GAME BANKRUPT?

WHEN GLASGOW RANGERS FC spiralled into Administration this week, I found the news difficult to comprehend.  True, for weeks reporters have been suggesting that Rangers financial difficulties could result in bankruptcy, however I, like many, did not really believe this could happen.

     My reasoning had nothing to do with having an affinity towards Rangers FC.  If I hold a football allegiance my support rests with Inverness Caledonian Thistle.  My shock at Rangers demise centred around the fact that Rangers is one of Scotland's oldest football clubs, as well as being arguably one of our most recognisable international brands.

 

Rangers FC are currently experiencing major financial difficulties.

Although large swathes of Govan will now be in mourning, I dare say celebrations will be erupting in Glasgow's West End.  And this cannot be too harshly condemned.  Before Fergus McCann steered Glasgow Celtic out of their financial quandary, Rangers fans were rubbing their hands with glee at the thought of the Parkhead Club collapsing.

     However, local rivalries aside, one has to consider the negative effects this will have on the Scottish game as a whole.  The descent of Rangers into the financial abyss will have profound consequences for our national game.  If the situation is not resolved quickly, Scottish football teams will lose one of the coveted European places.  The resultant effect will prove devastating, as significant monies will disappear from our league.  TV revenue from Sky, for example, will probably be reviewed forthwith.

     Within the past decade Rangers were competing regularly in the Champions League.  And in 2008 they reached the UEFA Cup Final, narrowly losing out to Zenit St. Petersburg.

     The brand itself has tens of thousands of national and international supporters, placing Scotland on the football world map.

     When former Rangers owner, David Murray, decided to sell the club, it seems incongruous that in-depth research was not conducted into the suitability of Craig White to take over.  This is especially true after the debacle in England concerning the takeover of Portsmouth, who too have gone into Administration this week (twice now in the past two years).  Mr Murray's legal advisors must shoulder a majority of the blame for Rangers downfall.  Why were they unable to establish Mr Whyte's financial credentials?

     As legions of financial advisors scrutinise Rangers accounts - they are reportedly in debt to the tune of some £49 million - this saga looks set to continue for some time to come.  However, surely the government must introduce cast iron legislation to prevent this situation from ever developing again.  For if nothing is done to address the issue, many more clubs throughout Scotland and the UK may find themselves in a similar condition, damaging the whole ethos behind the 'beautiful game'.