Rangers administrators: ‘No redundancy announcements today’

RANGERS administrators Duff and Phelps will not make an announcement today regarding potential job losses at the club.

Reports suggested a number of first-team players were set to be axed today as part of the cost-cutting process.

However, an announcement on redundancies will not be made until tomorrow at the earliest.

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A statement from the administrators read: “Duff and Phelps, the administrators of Rangers Football Club, advise all media there will be no announcement today in relation to staffing levels in any department of the club.

“Discussions are ongoing regarding potential cost-saving measures and announcements will be made at the earliest opportunity, most likely tomorrow.”

Meanwhile, a major creditor of the Ibrox club, Ticketus, today released a statement saying that the company was willing to enter into discussions with any potentional buyer.

The London-based investment firm, which bought three years of the club’s season ticket sales for £24m, said however that it had a duty to protect its shareholders and would go to “the lengths neccessary” to ensure that the agreement between the club and itself was honoured.

The statement read: “We met with the administrators yesterday to make it clear that we intend to be part of a solution for the Club, and to ensure a fast and fair resolution is achieved for all parties. We outlined that this includes working with potential purchasers to help provide various financing solutions to the Club that would be attractive to new owners.

“Ticketus believes that the best outcome for Rangers, its fans, Ticketus and our investors is for the administration process to be concluded as soon as possible, with a purchaser found who is able to bring stability to the Club.”

The statement continued: “Ticketus has an obligation to its investors to pursue all avenues to ensure that the ticket purchase agreement it entered into with the Club is honoured, and we are committed to going to the lengths necessary to ensure that the future of the Club is preserved and its agreement with Ticketus fulfilled. We believe that our investors’ interests are aligned to those looking to safeguard the Club’s future.”

Last week Rangers owner Craig Whyte revealed that the Ticketus money was used to pay off the debt owed to Lloyds Banking Group during his controversial takeover of the club last May - a claim he had repeatedly rejected.