Glasgow Rangers in danger of folding over unpaid taxes

Administrators Duff and Phelps took control of Glasgow Rangers on Tuesday after the Her Majesty's Revenue and Customs (HMRC) went to court to seek their administration over an unpaid bill of 9 million pounds ($14 million) built up since Craig Whyte took control at Ibrox in May.

However the club had won cross-party support from leading politicians, including British Prime Minister David Cameron on surviving this crisis.

Scotland's First Minister Alex Salmond, accepted that the tax authorities had a job to do in the public interest but "they had to realise the importance of the club to the country as a whole. It has an extraordinary history, it has a very special place in many people's hearts in Scotland and no one wants to see that club disappear."

Wednesday saw joint administrators Paul Clark and David Whitehouse issue a statement saying Rangers would continue as a football club, stating: "In broad terms, supporters can be reassured that Rangers will continue as a football club... and we hope to reach a stage as soon as possible where the club can emerge from administration."

Rangers' title hopes were all but ended after the Scottish Premier League docked them 10 points for entering administration, leaving them 14 points behind leaders and arch Glasgow rivals Celtic, but still in second place.

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