Rangers still seeking out loopholes

By Graham Barnstaple
June 11 2012

Despite being banned from signing players in administration Rangers are looking to exploit an SPL loophole to bring players in.

The never ending saga of Rangers financial woes has kept on giving us plenty to talk about in recent days. Prospective new owner Charles Green has been making all sorts of promises to the Rangers fans, including the signing of players.

They are even looking to sign players while in administration by exploiting a loophole in the SPL rules. They would be allowed to replace players out of contract with permission of the SPL Board.

This may appeal to the Rangers fans but I would think the fans of the other clubs would be up in arms if the SPL allowed this to happen. Therefore while it is easy for Green to say they will sign players the reality may be slightly different.

This hasn’t stopped him say he has identified 19 signing targets for next season, including five who are playing at Euro 2012. This is marvellous rhetoric from the new owner but can he truly make it happen?

It is also a bit of a kick in the teeth for the creditors that there is a “war chest” being built up to pay for this rather than transferring the money into the CVA. This would give the creditors a better return for their money, but they seem to have been low in the pecking order during this admin process.

Hopefully all of this will be put to an end on Thursday when the creditors meet to vote on the CVA. Given what has been said above I would hope it will be rejected and the liquidation process can begin and the story move on at a pace.

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