14 Feb 2012

Rangers on brink of financial collapse

7:33 am on 14 February 2012

The Champions Scottish football club Glasgow Rangers are on the brink of financial collapse after the announcement by an Edinburgh court of the club's intention to go into administration.

Rangers are awaiting the verdict of a tribunal which could leave them with a bill of up to 90-million dollars, should they lose their dispute with British tax authorities.

The club's owner Craig Whyte wouldn't say "crisis" is the right word, but it certainly has the potential to be the toughest few weeks in the club's history.