Ex-Rangers director admits that they are in trouble

A former Rangers director has finally spoken to the media and broken the silence about financial issues inside Ibrox after weeks of no response.

Everyone in Europe, much less Scotland knows about Rangers financial woes. But one club that does not seem to understand it has financial issues is… well, Rangers. While other clubs, most notably Hearts, have come out publicly asking for help, Rangers have kept silent.

This tactic is clearly to avoid bad press, something they have been no strangers to this season. It is also to save embarrassment after already being liquidated in recent memory. But, the truth of it is, everyone is going through economic hardship at this time.

The difference between other clubs’ financial issues and those from the club at Ibrox is that other clubs’ issues stem from the novel coronavirus. Whereas Rangers has stemmed from years of poor decision-making and tax issues.

But, former Rangers director Gordon Smith broke the silence over the finances when speaking with Sky Sports, and transcribed by the Daily Record:

"“It’s hard to say how the club is going. The chairman resigned last week and we knew he was going to resign, but we don’t know if there’s money there.“There is talk that the finances are there, that there were people coming in with money, but with the wage levels Rangers have and no gate money coming in then it’s going to be quite tough for them to keep going.“It’s only if they have a measure of money there in the bank that can keep them going over this period. It’s quite expensive for a big club like Rangers without the money coming in.”"

Some of this is telling. First is that he does not go as far to say there is no money, but concedes it is likely there is no money. That would line up with reports coming out of Ibrox. Smith is correct in the sense that a club like Rangers, with little revenue, and insane player wages (we know Alfredo Morelos is overpaid) that it must be nearly impossible to maintain status quo.

Times are interesting, and for Ibrox, they may just get even more so. Some of their fans better be careful what they wish for when they demand for the season to be cancelled. They might very well be wishing for liquidation.