Rangers have already won the Scottish League One (Third Division) title by a margin of 34 points, securing their second successive promotion.
However, the club has never been in more dire trouble. Things are even bleaker than they were two years ago when Rangers entered administration for the first time.
In its recent financial review, the club admitted to losing £70 million in the past two years. At present, Rangers has just £3.5 million remaining in the bank.
Pay up before 16 May 2014
Therefore, chairman Graham Wallace has taken the remarkable step of asking supporters to pay for their 2014/15 season tickets up front and in full before 16 May 2014.
By cash or cheque.
This decision has been precipitated by a change in terms laid down by the club's 'merchant acquirer' (aka, the financial institution that processes the club's credit and debit card transactions) which is demanding 'extensive security' over Ibrox Stadium as well as a costly insurance policy "to protect itself against any potential liability arising from passing on monies from season ticket purchases ahead of next season’s matches."
The club is absolutely refusing to offer Ibrox as security and so has been forced into making this extraordinary appeal to its fans on the season ticket issue.
'Ibrox 1972 Ltd'
So, what has brought on this new strict stance from the merchant acquirer?
Well, Wallace and his allies on the board blame 'prospective investor' and ex-club director Dave King, who has set up a company called 'Ibrox 1972 Ltd' (the name is a reference to Rangers' 1972 European Cup Winners Cup triumph).
This company has been set up with one specific purpose. It is to act as a trust into which supporters can pool their season ticket money until certain demands are met by the club. The season ticket money will then be "drip-fed" to the club on the basis of how the club is being run.
And one of the key demands is that the club accept King's offer of a massive cash injection in exchange for a new share issue.
Several Rangers' supporters organisations have supported King's call and urged supporters not to renew their season tickets until these demands are met. Club legends such as Richard Gough have also come out in support of King's call.
Wallace and the board are adamant that it is this whole 'Ibrox 1972' business that has led to the merchant acquirer toughening its stance.
The board believes that one of the major factors influencing the merchant acquirer to change its terms was the extensive negative coverage of calls in some quarters for supporters to refrain or delay purchasing season tickets.
King, a Glasgow born businessman who made his fortune in South Africa has a chequered financial history. Last year, he pled guilty to 41 tax offences in South Africa, each of which could have been met with a two year prison sentence - had not the exceptionally wealthy King paid 3.28 million rand back to the authorities.
He also sat on the Rangers board during the years of David Murray's reign in the 2000s. (Interestingly, he is also a friend of the South African golfer Gary Player and caddied for him at the 2000 US Masters.)
In the short run, we're all dead
Either way, the Rangers board are adamant that they need this season ticket money now - or else the end is nigh.
Wallace issued this dire warning this week.
Should the club suffer a substantial decrease in season ticket income in the next two months, then it would be unable to trade in the short term.
The club's auditors, Deloitte, have confirmed that season ticket money is absolutely vital to the club remaining afloat.
If Rangers enter administration, they will start next season with a 25 point deduction, but according to club director Sandy Easdale, much worse could lie in store if that comes to pass.
In 140 years, the club’s gone into administration once. I don’t think it would survive a second one. So I would ask every loyal Rangers fan – and I pick my words correctly in saying ‘loyal Rangers fan’ – supports the club at this time and gives it a chance.
It remains to be seen whether Rangers fans will heed the call and stump up for the season tickets before May 16.
Oh, and it should be added that Rangers announced last month that season ticket prices for next season will be increased by between 15% and 20%. Unusual for a club languishing in the second tier, but then its an unusual situation...
Rangers play their final League One game against Dunfermline this Saturday, having already won the title at a canter. Irish striker Jon Daly has been key to their effort this season, scoring 20 goals for the Ibrox club.
