Rangers administration: Gers in debt to Duff & Phelps too

THE new Rangers figures also reveal how much has been charged by Duff & Phelps since the firm became administrators for the club.

Rangers had to fight to make sure the specialist restructuring financial adviser, which had previously advised` the club, would take on the role after being challenged by the HMRC in the Court of Session.

In the following 45 days, Rangers Football Club Plc ran up a £1.2 million debt with the administrators.

Duff & Phelps, which was has its headquarters in New York, has charged £477 an hour for “financial review and investigations” and “strategy planning and control”.

It has fielded endless calls from the media, but “dealings with directors and management” have also proved costly, at £459 an hour.

Overall, a bill of £333,000 has been spent on strategy, with £350,000 spent on “trading – operations”.