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Rangers suffer on the field as administrators stated club to save £1m per month

Ranger’s woes continue with Hearts grabbing the points at Ibrox in a week that administrators have been in talks with manager Ally McCoist about trimming the playing squad.

"The Rangers business is trading at a substantial loss and we have no alternative but to fill an approximate 4.5 million pounds shortfall by the end of the season," joint administrator Paul Clark of Duff and Phelps said in a statement.

"It is therefore imperative we find savings of approximately one million pounds per month to ensure the on-going viability of the business."

Rangers, league champions a world record 54 times, has sent shockwaves through the football world where many clubs are living beyond their means both sides of the border.

Rangers are reported to owe around nine million pounds in payroll and sales taxes. 

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