Rangers clarify to SPFL that they will not go into administration again

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Football News

Rangers have sent their assurances to the Scottish Professional Football League that they will not find themselves back in administration again, according to BBC Sport.

The communication between the club and the league comes in the wake of the decision to reject Robert Sarver’s offer of £33 million for the business. Derek Llambias, chief executive at Ibrox, was summoned to a meeting at Hampden on Tuesday to clarify why the club had turned down the bid.

Unacceptable offer

Sarver, who also owns NBA franchise Phoenix Suns, had his offer turned down because it was reported to undervalue the Scottish Championship outfit – his £18 million buy-out offer was coupled with a promise of £15 million worth of future investment.

Although they declined to comment on the rejection it is thought that they value the club somewhere in the region of £100 million.

Continuing problems

But many commentators on the on-going developments feel that Rangers chiefs need to re-evaluate their pricing of the club that has been courting administration and winding up orders for the best part of a decade now.

On Monday, chairman of the club Sandy Easdale loaned the club £500,000 to avoid being handed a winding up order. And the club made a statement to the Stock Exchange recently confirming that they are in desperate need of new funds by the end of January.

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