sport

Rangers play down debt report

Rangers insist there was no threat to the club over a debt owed to a Singapore-based financial firm, despite threat of a winding-up petition.

Channel 4 News reported that Orlit Enterprises was seeking a winding-up order over an alleged debt of 400,000 for helping source the initial investment which helped Charles Green's company acquire the assets and business of oldco Rangers in June last year.

However, Rangers tonight played down the debt and claimed a repayment plan had been agreed.

The club issued a "court petition statement", which read: "With regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork.

"Rangers Football Club is capable of meeting any debts presented legitimately and we would like to stress to our supporters there is no threat to the club whatsoever.

"The matter is unworthy of further comment."