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Are players assets or liabilities when a club fails?

Rangers players Steven Whittaker and Steven Naismith have agreed deals to take a 75% wage cut with the club in administration and seeking a new owner.

Naismith arrived at training on Friday saying the players were keen to play their part in the club's time of need.

The club went into administration in February and there are fears the side may not complete the season.

BBC Radio 5 live Wake Up To Money asked Tom MacLennon, an Insolvency Expert at RSM Tenon, how a football club goes through the process.

Please visit the Best Bits page to hear other Radio 5 live interviews.

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