The Rangers Board were reluctant to do so. Both Murray & Lloyds expected the worst from the FTT & Rangers had become a burden they both wanted rid of, hence the decision to sell for 1 + The repayment of the BANK's Debt of 18m. It was a Commercially sound decision. Murray sold to a Vulture Capitalist who creamed Rangers in more ways than one. First he pre-sold Season Ticket Books to Ticketus to fund the Bank debt repayment & then he WITHHELD tax to fund the running of the Club because it was insolvent. Again BAD Commercial decisions by Rangers Management put them in jeopardy. This time though the ONLY way out of their problems was to pay HMRC the withheld tax, Rangers did not pay & went into Administration... FOR TAX AVOIDANCE, IE non payment of PAYE, VAT & NIC not anything to do with EBT's or the FTT. The Administrators made a Commercial decision to lump ALL the RFC EXISTING debts + those they EXPECTED together & offer a CVA which was rejected. This resulted in Rangers Liquidation & the sell off of assets to Sevco. The rest is a JOKE. So let's recap. Rangers failed because of Bad Management, living beyond their means & not cutting costs when they could. They then withheld TAX & TRADED While INSOLVENT thus making HMRC the biggest creditor. Rangers made the Commercial decision NOT to pay the PAYE, VAT & NIC. this decision led to their demise. If they had