SPL champions not seeking insolvency advice yet

Various rumours circulating on Twitter and other online sources over the weekend would have had many believing that Scottish football's SPL champions Rangers were ready to declare themselves insolvent.

Owner Craig Whyte has previously admitted that the prospect of administration is not a million miles away, but the Daily Telegraph noted that the club has yet to seek insolvency advice, in spite of the claims to the contrary.

With yesterday (October 31st) marking Halloween, the rumour mill might have been more frightening for Gers fans than most of the fancy dress witches, zombies, werewolves and monsters spotted around Glasgow's streets across the weekend.

The club's problems are well documented and include two cases with Her Majesty's Revenue & Customs (HMRC) where the taxman claims to be owed in the region of £55 million.

However, the newspaper's Roddy Forsyth attempted to restore some sanity to the discourse surrounding the Ibrox club, noting that many of the rumours had been proven inaccurate.

One example was the claim that midfielder Steven Davis is suing the club for unpaid wages – a fact that his agent Robert Segal firmly denies.

He told the publication that he does not "understand why people react to this", with Mr Forsyth adding that while Rangers players seem to be getting paid on time, those of other clubs in the SPL might not be so lucky.

All in all it seems that the Scottish champions are not entirely out of the woods in terms of the prospect of receiving a winding up order, but there has certainly been no change for the worse over the weekend.

Indeed, since the publication of the Telegraph article, the Gers have stretched their lead over rivals Celtic to 12 points after the Hoops drew 0-0 at home with Hibernian, while Ally McCoist's men won 2-1 at Pittodrie, with the only sour point a serious injury suffered by Steven Naismith.