Gers old boy describes the current situation at the Old Firm giant as an "absolute catastrophe", admitting supporters are "frustrated and embarrassed" by the situationEXCLUSIVE
By Rob Stewart
Former Rangers star Trevor Steven is desperately worried about the future of the Scottish Premier League champions, describing the club’s recent fall from grace as an "absolute catastrophe".
Steven helped the Glasgow giants win the Scottish title seven times but he is braced for his old club to be liquidated due to the financial woes that have seen the debt-ridden Gers being placed into administration.
“If you could imagine the worst possible doomsday scenario for a football club, then Rangers are right in it,” Steven told Goal.com.
“They are literally going through new ground, the rapidness of the fall has been staggering. Although it was beneath the surface, for it to actually burst through and to see the chaos that is reigning now is just unbelievable.
“There are a lot of unanswered questions and all Rangers supporters and everyone that follows the club are really frustrated and embarrassed by what has happened."
Glasgow-based Steven said he feared that the club will be liquidated despite the best efforts of the accountants who are now running the club after it was placed into administration by owner Craig Whyte.
“You have to be worried about the future of the club,” the former England international added.
“There are two options. It is in administration. Can they get out of it or does the club need to be liquidated? If it is liquidated all the players go, the assets are sold - probably to a new consortium - and it all starts again.
"But where does that put Rangers in terms of their league position in Scottish football. Do they have to go to the bottom of the league tables?
"All these things are questions that not even the Scottish FA or the SPL want to even remotely think about. Everyone is hoping that administration works - but the likelihood is that if they lose this court case then there is no chance.”
Steven is also convinced that prospective new owners will steer clear of the club unless it is liquidated.
“Anyone who had the funds and their heart in the club to resurrect it would be backed by fans to the hilt but the kind of money you need to do that are astronomical,” Steven continued.
"Even £50 million - that is not enough. That is only enough if it is liquidated because then you have to go out and fund the club.
"It is just an absolute catastrophe every way you look at it.
“Milan Mandaric and the other consortia that are circling can only be really interested if the club is actually liquidated because otherwise they are going to throw money after debt.”
Steven added that Rangers had been going downhill over the last few years despite winning the Scottish title last season.
“The club has been in decline for several years,” the former Everton player said. “You can just tell that by their expenditure in the transfer market, which shows how much money there was available for the manager, that there wasn’t a lot.
“Ally McCoist does not have the ability to change it. What can he do? All he can do is get in front of a camera and keep speaking positively."