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Whyte sympathy as Rangers cuts loom
Published : 01 Mar 2012 19:16:59Rss feed
Rangers owner Craig Whyte claims he has "enormous sympathy" for those who will lose their jobs as part of cost-cutting measures at the club.
But he insists the painful administration process - and any redundancies as a result - is necessary to make the Scottish champions stronger in the long-term. Administrators Duff and Phelps are likely to make an announcement on Friday regarding staffing levels, amid speculation that a number of first team regulars could be heading for the exit door.
Whyte told STV tonight: "Clearly I've got enormous sympathy for anyone who's losing their job in this process. But, what I would say is, that Rangers were a company in enormous financial distress long before I came along. This is part of solving the problem to make Rangers a stronger business when it comes out of administration."
Rangers were forced into administration on February 14 over an unpaid tax bill of Â£9million accrued since Whyte's takeover of the club last May.
The businessman again reiterated his belief that he had not been responsible for any financial wrong-doing during his tenure.
He said: "Every penny is in the club and every penny is accounted for. I've got to meet the administrators now and they will confirm all of that in due course."
So far, director of football Gordon Smith and chief operating officer Ali Russell have been the only casualties of the administration process after their departures were confirmed last Thursday.
The administrators have yet to make any cuts to the playing squad with news of any redundancies likely to be made ahead of Saturday's Clydesdale Bank Premier League game against Hearts.
A statement from the administrators read: "Duff and Phelps, the administrators of Rangers Football Club, advise all media there will be no announcement today in relation to staffing levels in any department of the club.
"Discussions are ongoing regarding potential cost-saving measures and announcements will be made at the earliest opportunity, most likely tomorrow."
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