Home Sport Rangers players accept 75% wage cut

Rangers players accept 75% wage cut

Rangers players have accepted a 75 per cent cut in wages to prevent the squad being decimated by up to 15 redundancies.

At one stage the club’s administrators¬† threatened to axe the club’s top five earners, plus 10 others, as they tried to reduce monthly outgoings by $2 million.

It would have left manager Ally McCoist with an Ibrox squad made up mainly of youth-team players, but was avoided when the stunned players agreed to have their pay docked by three-quarters.

It meant the club’s biggest earners, midfielder Steven Davis and keeper Allan McGregor, had their weekly wage of about $50,000 slashed to $12,000.

The revised deals will be in force until Rangers come out of administration or find new owners.

As a sweetener, many agreements contained extra clauses, such as a minimal buy-out figure so they could join another club for a nominal fee.

by Terrence Johns

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