Rangers players agree pay cuts

Rangers players have agreed pay cuts with administrators to prevent significant redundancies amongst playing and backroom staff.

The higher earners have giving up 75 per cent of their salaries.

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Rangers administrators: 'exit from administration achievable by end of season'

Duff & Phelps, the administrators of Rangers Football Club, have issued a statement on the future of the club:

We have had a number of discussions with the interested parties today and have stressed the benefits to them of engaging openly with the Club’s fanbase.

We can now see light at the end of the tunnel whereby the Club can exit from administration and focus upon success on the pitch.

While we cannot be precise on timescale, exit from administration does look achievable by the end of the season.

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Rangers Administrator Paul Clark: 'We can now move forward'

Rangers Administrator Paul Clark addresses the media Credit: ITV News

Rangers Administrator Paul Clark : "The agreement on very substantial wage reductions and voluntary departures from the club represents a major sacrifice by the Rangers players.

"There are a small number of matters still to be dealt with over the weekend but we do not believe these will be insurmountable in the completion of an agreement.

"This has been a difficult week for everyone at the club and we are pleased that we can now move forward and focus on the next steps in the recovery process."

PFA Scotland chairman Fraser Wishart thanks the Rangers squad

"All of the squad (Rangers) have taken pay cuts with the higher earners giving up 75 per cent of their salaries and the finer points are just being completed now."

– PFA Scotland chairman Fraser Wishart

"The camaraderie in the group is very special because some of the players could have left and secured better deals elsewhere but they chose to take a pay cut and remain with their colleagues."

– PFA Scotland chairman Fraser Wishart

"Much has been written and said about the talks but at all times the players were as one and this has been borne out by what has happened tonight."

– PFA Scotland chairman Fraser Wishart

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