Did Gordon Brown kill Rangers FC?

Rangers FC has gone into administration.

The legendary football club is facing bankruptcy because it is in a legal battle with HMRC over a £9 million PAYE and VAT bill. Club owner Craig Whyte claims could final cost to the club could be £75 million.

The club is a financial mess:
- It is losing £10 million a year.
- The unpaid tax bill plus penalties could total £49m.
- The club owes Craig Whyte £18 million.
- It was reported that the chairman borrowed up to £24m against four years of future season ticket revenue from Ticketus.
- HMRC are trying to recover £9 million in unpaid PAYE and VAT
- In a separate move HMRC are trying to recover £49 million in unpaid taxes from 10 years ago because the club used an offshore trust to pay players.

Further muddying the financial situation, owner Whyte is believed to be a secured creditor and would have to be paid first ahead of others such as HMRC. That could make doing a deal to save the club impossible and force it into liquidation.

The move into administration means that Rangers will automatically be docked ten points by the Scottish Premier League, ending their title challenge.

Future games are also in doubt because Strathclyde Police are demanding upfront payment for policing home football games.




This is not the first time the club has been in financial troubles. Back in 2009 Rangers was £25 million in debt and seeking a new owner. Then owner Sir David Murray eventually sold a 85% stake in Rangers to the current owner Whyte on May 6th 2011 for £1. As part of the deal Whyte took over the bank debt of £18 million.

In 2009 Lloyds Bank took over the day to day running of the club and, as Lloyds was majority owned by the government, effectively Gordon Brown was in ultimate charge of the Scottish club.

Gordon Brown is rumoured to be a Rangers supporter, rather than their arch rivals the Celtics.

At the time Rangers fans feared that Gordon Brown might be tempted to get involved in team selection and buying and selling on the market.

It is not known whether he did ever get his hands dirty with running the team (probably not, because they have been winning games and titles), but judging by the finances of Rangers FC it looks like he might have gotten involved in the financial side.