A financial own goal?

In case you're wondering what football team I support I'll nail my colours to this board and they are red, white and blue and they play in the west of Scotland, got it yet? When I was at school I used to watch them training on the pitches behind my school, back in the days before the custom built training facility. It's hard to believe that a high profile team like Rangers, with the likes of Goram, Gough and McCoist, used to train on a pitch I've played on. Anyway over the last week it's emerged that they are in a bit financial trouble to the extent that they have gone into administration. Now obviously this is not good news if you're a Ger's fan and results on the pitch aren't much better. Now the obvious question is why are they in this mess?I'd like to take a novel approach to thinking about this. So far everyone has been quick to blame either Craig Whyte (the current owner) or the previous board (Sir David Murray was the owner). We really shouldn't be surprised though. For well over a decade they've spent beyond their means and used a questionable method of paying the top players, top dollar, which is under investigation by HMRC. So why spend too much on foreign stars who in all honesty were probably past their best, which is why they were playing in Scotland and not England or Spain et al (with a few exceptions). I should at this point say that the trigger event for the administration was the current regime not paying PAYE tax and VAT to Her Majesty's Revenue and Customs (HMRC). Having studied business law the legal mechanisms and maneuvering is fascinating if some what painful.
Anyway back to the why spend £12m on a player and pay him £40,000 a week in what is pretty much an insignificant league (the winners of the SPL get ~£1,200,000 from TV money compared to the bottom team in the English premier league getting closer to £20,000,000 in TV money). Obviously winning is important to the team and its fans, The winners and runners up get into European games which brings a touch of glamour and increased earnings. However, the key to this is not just getting into Europe, as great or painful those nights could be. 
The answer lies in pride. Pride at being the best and competing with the best, no matter the cost. As Sir David Murray once stated "For every fiver Celtic put down, we'll put down a tenner." It's great rhetoric and as a Rangers fan it was what we wanted to hear but at what cost? Having enjoyed watching the likes of McCoist, Gazza and Laudrup in the early to mid 90s to Amato, Van Bronckhorst, Numan and Mols in the late 90s/early 00s, we're now ultimately paying for these guys who have now retired and the cheeky joker that was Super Ally is now, Ally McCoist, the current manager for crying out loud!!
Football is ultimately a vain pursuit, kicking a ball around to lift a trophy and collect a medal. I'm not saying it's wrong far from it but in the grand scheme of things how significant is it? I'd suggest not very despite the legendary Bill Shankly saying "Some say football is a matter of life and death - but it's more important than that".  Sadly to some it is. There were grown men outside Ibrox this week crying and protesting angrily when Mr Whyte turned up. In fact he was advised not to turn up for Saturday's fixture against Kilmarnock (which was dismal anyway) due to fans being irate with him and some might go beyond hurling insults to hurling their fist or missiles at him. Is this anger well placed? I don't suggest hurting anyone and would condemn any such action but in the end Sir David Murray may be guilty of financial mismanagement, incompetence even but I doubt his actions were malicious. After all he gave the fans what they wanted. We are all guilty of being greedy for more trophies and greater success at home or abroad.
From a personal point of view there are lessons here. Don't pander to status symbols or symbols of success especially if you can't afford them, that could bring an economy down. i-pads are like an Ally McCoist great for a time but soon they will be retired from service and become a technological dinosaur. They keep you chasing after the shiny next thing whilst still paying for its predecessor.
For Rangers immense success over the last 24 years, 16 league titles (including 9 in-a-row), several trebles and doubles, a significant run in the Champions' League* (1992-93) and the UEFA Cup final in 2008,  has given them immense pride and now we're having an immense fall.

Champions' league game at Ibrox 2005. http://commons.wikimedia.org/wiki/File:Ibrox_Stadium_Glasgow_Rangers_v_Internazionale(Milan)_2005_.jpg

Certain levels of debt can be toxic not only to a business, which Rangers FC are, but also to nations, ask the Greeks, and individuals and their families. Some debt is unavoidable, like a mortgage but how much is actually necessary debt. Some companies offer short term high interest loans. No doubt some people may need a temporary cash boost but could money be saved else where?
There's a story in the Bible of Jesus and a man described as a rich young man. The story is as follows:
¹⁶ Now a man came up to Jesus and asked, “Teacher, what good thing must I do to get eternal life?”
¹⁷ “Why do you ask me about what is good?” Jesus replied. “There is only One who is good. If you want to enter life, obey the commandments.”
¹⁸ “Which ones?” the man inquired.
Jesus replied, “‘Do not murder, do not commit adultery, do not steal, do not give false testimony, ¹⁹ honor your father and mother,’^[d] and ‘love your neighbor as yourself.’^[e]”
²⁰ “All these I have kept,” the young man said. “What do I still lack?”
²¹ Jesus answered, “If you want to be perfect, go, sell your possessions and give to the poor, and you will have treasure in heaven. Then come, follow me.”
²² When the young man heard this, he went away sad, because he had great wealth.
²³ Then Jesus said to his disciples, “I tell you the truth, it is hard for a rich man to enter the kingdom of heaven. ²⁴ Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.”
 (Matthew 19 verses as indicated - New International Version)   


Some have commented that the only command from the 10 Commandments (See Exodus 20 for all 10) that is not mentioned is the 10th commandment, often shortened to "You shall not covet." Whilst there is a powerful religious reason for not coveting, namely idolatry, there is also another reason. Rangers and their fans are now discovering why coveting is a bad idea for the other reason.
For all Rangers fans reading this: http://www.youtube.com/watch?v=_6nVXly-ruU&feature=share
 *I'm not sure it was called the Champions' League then. I do remember watching with great anticipation games against Leeds, Club Brugge and Marseilles. I also can't forget Scott Nesbits "wonder goal", the most odd goal I've ever seen!  http://www.youtube.com/watch?v=D0iL0OPKO9c for the aforementioned goal.