Rangers have to cut £4.5 million from their budget by the summer and the players will do their part in making it happen by taking pay cuts for the rest of the season. The top earners will see their pay cut by as much as 75%, while the pay cut for the lower earners is in the 25-50% range with management also having their pay cut. The pay cuts are part of Rangers' administration as they try to avoid a raft of enforced redundancies at the club.
In return for taking the pay cuts, some players will be allowed to leave the club after the season on either a free transfer or at an agreed upon, reduced price. Two players, Gregg Wylde and Mervan Celik, were just released from their contracts effective immediately with the consent of the players, making them free agents.
Getting the cuts was not an easy an easy process. The agents of the players and the players met with the club on Tuesday to work on a wage cutting plan. At one point, the players made what they called their "final" offer, which was rejected by the administraots. It looked like a deal would not be reached, but the two sides reached an agreement late in the evening.
Wylde and Celik were not the only players to offer to leave the club and a couple loanees offered to return to their parent clubs, like Kyle Bartley.
"All the players who will be taking wage cuts or leaving will be saving people's jobs," Bartley said. "I don't think anyone who is still at the club wants to leave but it is a situation where some may have to leave to benefit the club. My parent club is Arsenal. It was said I'd go back if there were cuts but nothing has been decided yet. I am still a Rangers player for this season as it stands. It is a shame that such a big club has come to such a crisis. It is a very sad time for Rangers."
The wage cut is a boost to the club as they try to work through administration, but they have many more problems on their hands. They are being investigated by the Scottish Premier League for illegal player payments and even if they survive administration and this season, there is no telling what kind of team they will have next season.