Rangers administrators, Duff and Phelps, were as recently as yesterday briefing media that they hoped to conclude the sale of Rangers before the end of the season – which is their game against St Johnstone on Sunday.
Late Friday morning this seems unlikely but it is an important deadline. If Rangers morph into a Newco and are given permission by the SFA and SPL to take the field against St Johnstone on Sunday, any player who participates will have transferred his employment to Newco. Newco would then be able to retain his services for the length of his Rangers contract or would be able to sell him to fund a trading shortfall.
If a Newco is formed after Sunday, players have two months to decide if they want to join the company or remain Rangers employees until redundancy or until Rangers fail to pay wages.
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