Rangers on verge of administration

Rangers on verge of administration

European Soccer

Rangers on verge of administration

Rangers (Reuters Pictures)

One of Europe's more storied clubs finds itself in serious financial jeopardy, and a trio of U.S. internationals could be directly impacted by the repercussions.

Glasgow Rangers, the Scottish power that is home to U.S. internationals Carlos Bocanegra, Maurice Edu and Alejandro Bedoya, is on the verge of going into administration. The club, which reportedly filed the initial papers in the administration process to the Court of Session in Edinburgh on Monday, has five days to officially appoint an administrator to take control of the organization.

In that time, the club can attempt to negotiate its debts in hopes of staving off administration, an act not typically reserved for perennial league champions but one that is far from foreign in the Scottish game.

Should Rangers enter administration, the club would be docked 10 points the league table (which would keep the club in second place in the Premier League but turn its deficit to rival Celtic from a manageable four points to an overwhelming 14) while having an embargo put on signing new players as the club struggles to fight off its financial troubles.

Rangers was already sweating out a major financial dispute, as they could be forced into paying £49 million to Her Majesty's Revenue and Customs after allegations that the club used money from an employee benefits trust to pay personnel wages. An unfavorable ruling in that case would set the club back even further and cause even more dire consequences that could end with a firesale of the club's assets.

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