The meaning of strife.

If people on Planet Fitba think things are bad for Rangers at the moment then they haven’t been paying attention.

Anytime I have written about the financial troubles that will inevitably engulf the Ibrox club there is the usual river of cyber effluent into the back of this site.

The default setting of Rangers supporters contacting me has been to dismiss any bad news about their club as wishful thinking of someone who hates their club.

Most of this stuff is so awful that it never gets moderated for public viewing.

Interestingly what seemed to be a constant stream of bile on mains pressure has been reduced to a trickle over the past few days.

However, really folks, you aint seen nothing yet!

All that has been confirmed is that the next four years of season ticket money has been used up.

This means that we can realistically consider impending oblivion for Rangers WITHOUT discussing the big tax case!

Even discounting the £36 million bill that may crystallise in the next couple of months the club now has debts that exceed their liquidation value.

That means that Scotland’s establishment club is now technically insolvent in that they owe more than they are worth.

I am advised by people who work in the field of insolvency that the likely liquidation value of Rangers is somewhere between £14-£16million.

Moreover I have been told by business experts that there is no feasible scenario where the club can trade out of this situation and this is BEFORE they get a tax bill for £36million.

There is utter carnage on the horizon for Rangers.

Rangers owe Ticketus £24 million combined with the debt that Craig Whyte took over from Lloyds banking group then we know the extent of the trouble.

What is the meaning of all of this?

The answer, as always, is forty two.

Discover Phil’s dramatic play Rebellion