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Terminal blues

The financial implosion of Rangers football club is a body blow to Scottish football—and to Glasgow

By Sam Knight   August 2012

The collapse of Rangers football club could bring Scottish football to its knees

When you start getting forensic, rather interesting lectures from large, ordinarily intimidating football supporters about the difference between a liability and a contingent liability; the merits of a CVA versus a Newco in insolvency proceedings; and the kinks in the UK’s TUPE regulations (2006), then you have reached a pretty unnerving place.

This is Glasgow in the summer of 2012. Like everywhere else in Britain, it is pouring with rain. Like everywhere else, people’s minds are heavy with…

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