Rangers Confirm Debt Will Not Affect Newco, Hearts Manager Calls For No Old Firm In SPL
Scottish Football League Third Division Rangers Tuesday night issued a statement "to reassure supporters that the impending tax tribunal outcome will not affect the current Ibrox regime," according to the SCOTSMAN. A ruling on the use of Employee Benefit Trusts throughout the first decade of the century at Ibrox "is believed to be imminent but, according to the newco Rangers, any sum due will only be added to the debt left when the original Rangers were consigned to liquidation." A statement on the club’s website read: "However, the club, as it now stands as part of The Rangers Football Club Ltd., has been informed by [tax authority HMRC] that any decision by the First Tier Tax Tribunal will not affect the operations of The Rangers Football Club Ltd." (SCOTSMAN, 10/31). The SCOTSMAN added that Hearts Manager John McGlynn believes that a Scottish Premier League "without either of the Old Firm sides could be more exciting because any club would have a realistic chance of winning the title." With the Rangers "consigned to the Third Division," the Celtic board has admitted that it would "consider a move to a European league in the future -- and McGlynn believes that could be a good thing for the top flight." McGlynn said, "Celtic have been the most consistent, leading by two points with a game in hand. But even looking at that, who would have thought Celtic would be only two points clear by November?" He added, "Take Celtic out of the league and what have you got? A league where nobody could predict anything because it’s so tight and so evenly balanced" (SCOTSMAN, 10/31).