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| Duff and Phelps say Rangers' estimated debts could top £134m | |
| (40 minutes later) | |
| Rangers' administrators estimate that the club's total debts could top £134m. | Rangers' administrators estimate that the club's total debts could top £134m. |
| The figure is revealed in the administrator's report to creditors published on the club's website. | The figure is revealed in the administrator's report to creditors published on the club's website. |
| A total of more than £93m is being claimed by HM Revenue and Customs, relating to the so-called big and small tax cases, and unpaid VAT and PAYE. | A total of more than £93m is being claimed by HM Revenue and Customs, relating to the so-called big and small tax cases, and unpaid VAT and PAYE. |
| The report also reveals Rangers owe cash to other football clubs including Celtic, Hearts, Dundee United, Manchester City and Arsenal. | The report also reveals Rangers owe cash to other football clubs including Celtic, Hearts, Dundee United, Manchester City and Arsenal. |
| The full extent of the potential liabilities facing Rangers has been unclear since the Ibrox club went into administration in February. | |
| The creditors' report reveals, however, that the club owes cash to 276 individuals, businesses and public bodies. | |
| Public bodies | |
| The largest estimated amount is to HM Revenue and Customs (HMRC). | |
| Debenture owners - fans who loaned money to the club - are owed £7.7m | |
| And taxpayer-funded bodies also owed money include: Strathclyde Police (£51,882), Scottish Ambulance Service (£8,438), Culture and Sport Glasgow (£10,338), Glasgow City Council (£7,000), Argyll and Bute Council (£406), and Edinburgh City Council (£90). | |
| The report also reveals that Rangers owe more than £2.3m to 12 football clubs in Scotland, England and throughout Europe. | |
| Domestically, Rangers owe: Hearts (£800,000), Dunfermline Athletic (£83,370), Dundee United (£65,981), Celtic (£40,337) and Inverness Caledonian Thistle (£39,805). | |
| English clubs are also owed more than £700,000. This breaks down as: Manchester City (£328,248), Chelsea (£238,345) and Arsenal (£136,560). | |
| European clubs are also owed more than £1.6m, including Rapid Vienna (£1,011,763), St Etienne (£252,212), Palermo (£205,513) and Orebro (£150,000). | |
| The report reveals that since Rangers went into administration - some six weeks ago - the club has lost more than £2.5m. | |
| The £134m potential debt figure revealed in the Duff and Phelps report does not include liabilities to employees, including the playing staff whose contracts revert to their original terms on 1 June. | |
| If these playing staff contracts are to be honoured, the £134m liability will rise by a further significant amount. |