Gers players warned: Wage cuts or 'significant redundancies'

Rangers' administrators have warned the players there will be 'significant redundancies' unless the squad agrees on wage cuts.

Duff and Phelps have met with the squad and with manager Ally McCoist in order to discuss cuts in wages in the order of 75 per cent for the highest earners, and 50 and 25 per cent for medium and lower earners, but the negotiations broke down on Tuesday evening.

The administrators have been to the High Court in London on Tuesday to gather a £3.6 million fee from club owner Craig Whyte but a decision regarding the destination of that amount was set for a four-day trial starting from March 30.

The delay has made it imperative that the administrators reach an agreement with the players if the Gers have hopes of keeping the squad.

Co-administrator David Whitehouse told Sky Sports News outside the High Court: “Our position at the moment is that we are still in negotiations with the players. The players know what needs to be done if we can deliver that funding gap purely by wage reductions.”

“We have also been speaking to interested parties over the last two days to gauge the extend of which we can bring those discussions forward to try and deliver an easier sale of the business in a timetable which would minimise the level of redundancies which would need to be made.”

Whitehouse revealed new talks will be held with the players on Friday as the administrators are aware the later an agreement is reached, the more redundancies will become necessary.

“We are still hopeful that the players can deliver what they were hoping to deliver on Tuesday evening. We need to know we've got an on-going funding structure, otherwise we will make what are quite significant redundancies among the playing staff.”