Rangers prospective owner Charles Green has revealed the newco will be called 'The Rangers Football Club', Sky Sports sources can confirm.
Charles Green to push ahead with The Rangers FC newco
Rangers prospective owner Charles Green has revealed the newco will be called 'The Rangers Football Club', Sky Sports
sources can confirm.
The news came as their Company Voluntary Arrangement was formally rejected by the club's creditors.
Earlier this week Her Majesty's Revenue and Customs (HMRC) said it would not support such a scenario and the final decision was taken at a meeting lasting just nine minutes at Ibrox on Thursday.
The decision means the troubled club will now be liquidated with prospective owner Charles Green hoping to confirm his newco which will be known as 'The Rangers Football Club'.
Rangers have been in administration since February over an unpaid tax bill of £14m which has now risen to around £18m due to penalties.
Green will now hope to finalise his planned purchase of the club for £5.5m with his main task persuading the SPL to allow The Rangers to play in the top-flight next season.
There is now concern about the future of Rangers' current playing staff and whether they will be transferred to the newco.
Professional Footballers' Association Scotland chief executive Fraser Wishart has told Green he needs to start consulting with them.
Wishart has stated his union's legal opinion is that the players are under no obligation to stay at Ibrox under the Transfer of Undertakings (Protection of Employment) (TUPE) regulations, although Green must continue to employ all staff who wish to keep their jobs, under the same terms.
"It may well be the case that all of the players wish to transfer across to the newco and if that is the case then PFA Scotland will ensure that their rights are protected," he told the Scotsman
"The players however are becoming increasingly unhappy at having to operate in an information vacuum whilst their futures are portrayed by others as being a fait accompli with no proper communication and consultation taking place.
"The players are being asked to decide upon their future with so many uncertainties involved; unanswered questions such as which division the new club will actually play in, whether there be any sporting sanctions against the club, whether the club be eligible to play in the Scottish Cup and whether there will be a registration embargo."