Rangers

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Rangers

Postby real_falkirk_bairn » Monday 13th 2012f February 2012 04:11:44 PM

They have applied to the court of session to go into administration.

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Re: Rangers

Postby Burgess » Monday 13th 2012f February 2012 04:12:21 PM

was that from the STV site?

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Rangers LOL

Postby welshbairn » Monday 13th 2012f February 2012 04:12:21 PM

Applied to go into administration..

http://m.stv.tv/news/scotland/west-central/297387-rangers-to-go-into-administration/

:lol: :lol: :lol:

Looks like Whyte's scheme is going to plan, wonder where he's hidden the next 3 years season ticket money?

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Re: Rangers

Postby BOBBYBAIRN » Monday 13th 2012f February 2012 04:15:28 PM

Thats a shame!! :lol: :lol:
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Re: Rangers

Postby real_falkirk_bairn » Monday 13th 2012f February 2012 04:16:29 PM

My Boss told me he might have got it from there not sure.

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Re: Rangers LOL

Postby BOBBYBAIRN » Monday 13th 2012f February 2012 04:29:42 PM

Poor old Jim White is having kittens on Sky Sports News :lol: :lol:
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Re: Rangers LOL

Postby welshbairn » Monday 13th 2012f February 2012 04:32:23 PM

This is good on what happens next: http://m.stv.tv/sport/football/scottish-premier/rangers/277010-what-happens-when-a-football-club-goes-into-administration/

What if a club fails to reach an agreement?

A club may try again to reach a satisfactory agreement with its creditors. But, if is unable to agree a deal, the company will be dissolved and the club will cease to exist.


:head :band

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Re: Rangers LOL

Postby Sir Jones » Monday 13th 2012f February 2012 04:33:59 PM

:lol: Brilliant. Maybe now those in power in this country will actually start to address a problem that has been exponentially growing in our game for over 20 years. Just a shame that Celtic are actually not too bad financially otherwise we could have had a sensational double whammy to look forward to.

Makes football in this country look like a complete joke though. Idiots.

To be fair, it was expected and I still expect Rangers and HMRC to work out some sort of deal that will let them off with millions. Time will tell though!
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Re: Rangers LOL

Postby Falkirk Till I Die » Monday 13th 2012f February 2012 04:38:01 PM

I couldnt be happier right now. :o

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Re: Rangers LOL

Postby Silver » Monday 13th 2012f February 2012 04:38:26 PM

Sir Jones wrote::lol: Brilliant. Maybe now those in power in this country will actually start to address a problem that has been exponentially growing in our game for over 20 years. Just a shame that Celtic are actually not too bad financially otherwise we could have had a sensational double whammy to look forward to.

Makes football in this country look like a complete joke though. Idiots.

To be fair, it was expected and I still expect Rangers and HMRC to work out some sort of deal that will let them off with millions. Time will tell though!


I realise they have paid debt off, however Celtic profits have fallen by £7m.

http://news.stv.tv/scotland/west-central/297333-celtics-profits-fall-by-7m-while-bank-debt-cut/

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Re: Rangers LOL

Postby geeo41 » Monday 13th 2012f February 2012 04:42:36 PM

welshbairn wrote:This is good on what happens next: http://m.stv.tv/sport/football/scottish-premier/rangers/277010-what-happens-when-a-football-club-goes-into-administration/

What if a club fails to reach an agreement?

A club may try again to reach a satisfactory agreement with its creditors. But, if is unable to agree a deal, the company will be dissolved and the club will cease to exist.


:head :band


Trying not to risk getting too excited by this great news, not yet anyway... the bit on your link where it mentions "pheonix" clubs looks like what rangers might be trying for.
Everything gets transferred except the debt to the "new" club, no europe for 3 years, but can retain SPL status if the SPL board decide they can. NOTE, the SPL board decide this, NOT the remaining 11 clubs.
On administration, i cannot see the taxman taking any deal rangers could offer, so its likely to be liquidation for them. :clink:

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Re: Rangers LOL

Postby falkirk daft » Monday 13th 2012f February 2012 04:58:32 PM

My ribs, my poor f**king ribs :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:
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Re: Rangers LOL

Postby lovesgreatadventure » Monday 13th 2012f February 2012 05:01:42 PM

what baffles me is how they managed to sign Daniel Cousin on a reported £7.5k a week!?! Surely a few first team players will be going bye bye now? I'd expect McGregor, Davis and Wallace to all make moves down south. Would be quite funny if Celtic took a few of their players for nothing.
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Re: Rangers LOL

Postby geeo41 » Monday 13th 2012f February 2012 05:07:39 PM

lovesgreatadventure wrote:what baffles me is how they managed to sign Daniel Cousin on a reported £7.5k a week!?! Surely a few first team players will be going bye bye now? I'd expect McGregor, Davis and Wallace to all make moves down south. Would be quite funny if Celtic took a few of their players for nothing.


Had to laugh at jim white on SSN, "rangers could be deducted 10 points, which would put them 14 points behind celtic.." Think there are bigger issues for your boys Jim... :lol: :lol: :lol: :lol: :lol:

Pretty sure if they do go into administration then it counts as a breach of contract and players can leave for nothing if they like (after due process), yet on the rules of being in admin, a club cannot sign players but can still sell them with permission from their league...who would pay for a player they can get for nothing ??

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Re: Rangers LOL

Postby Sir Jones » Monday 13th 2012f February 2012 05:08:19 PM

I dont understand the ins and outs fully but from various chats it seems as though Rangers are taking this step ahead of the tax case decision as at this moment in time HMRC have a weaker holding in terms of debts due to them and therefore a poorer position in any potential blockage to any CVA that Whyte may announce as a result of administration.

I think that by doing this now and taking the penalty hit, Rangers could, in theory, block HMRC from tearing the club to pieces as a result of the tax case despite this move effectively being an admission of guilt in my opinion. What happens to the monies due as a result of the tax case, well that's the bit Im not sure of under this thinking.

So, expect administration and the Glasgow Rangers name and company as we currently know it to be transferred into a new holding with a very different debt structure. All current liabilities being paid off at some sh1tty rate and Rangers being able to get on with things like nothing happened next season. Illegitimite sons.

Hopefully someone can tell me otherwise as I don't really know much about insolvency practices having bee long forgotten from my training.
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Re: Rangers LOL

Postby geeo41 » Monday 13th 2012f February 2012 05:14:06 PM

Sir Jones wrote:I dont understand the ins and outs fully but from various chats it seems as though Rangers are taking this step ahead of the tax case decision as at this moment in time HMRC have a weaker holding in terms of debts due to them and therefore a poorer position in any potential blockage to any CVA that Whyte may announce as a result of administration.

I think that by doing this now and taking the penalty hit, Rangers could, in theory, block HMRC from tearing the club to pieces as a result of the tax case despite this move effectively being an admission of guilt in my opinion. What happens to the monies due as a result of the tax case, well that's the bit Im not sure of under this thinking.

So, expect administration and the Glasgow Rangers name and company as we currently know it to be transferred into a new holding with a very different debt structure. All current liabilities being paid off at some sh1tty rate and Rangers being able to get on with things like nothing happened next season. Illegitimite sons.

Hopefully someone can tell me otherwise as I don't really know much about insolvency practices having bee long forgotten from my training.


No expert on such matters, but surely HMRC can object to rangers going into administration if they can show it is an attempt to avoid the coming tax bill ?
Looks like a cynical attempt to cheat everybody in and outside of football, fuckin scum!!

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Re: Rangers LOL

Postby Sir Jones » Monday 13th 2012f February 2012 05:16:44 PM

From my blue nose tax mate...

Going way out the box here but wouldn’t mind starting again if it meant starting in the Conference in England and working our way to the Premiership lol.



Other than that I’d rather not lose all our history etc so I’m hoping its just admin, agree deals with creditors including HMRC and pop back out of admin with the 10pt pen. As we’re looking to go into admin before the tax bill Craig Whyte will be the largest creditor so can force through the CVA … I think this is the plan before losing the tax case and having HMRC stop it. Basically I think Rangers have finally realised there is no way they can win this tax case.


So who knows what will happen but this would support my thinking. And I guess it depends how common it is whether HMRC can block what I agree is a majorly blatant avoidance set up.
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Re: Rangers LOL

Postby Falkirk Till I Die » Monday 13th 2012f February 2012 05:42:25 PM

Looks like Craig Whyte has played a blinder here, but whether their neanderthal supporters will see it that way I very much doubt.
It looks like he will stop them from going in to liquidiation and avoiding the HMRC tearing Rangers apart.
10 point penalty and perhaps a ban on signing players for a couple of seasons. Big wows. Jobs a good un.

It's clever thinking, but shocking how it can be allowed to happen.

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Re: Rangers LOL

Postby geeo41 » Monday 13th 2012f February 2012 05:55:28 PM

Falkirk Till I Die wrote:Looks like Craig Whyte has played a blinder here, but whether their neanderthal supporters will see it that way I very much doubt.
It looks like he will stop them from going in to liquidiation and avoiding the HMRC tearing Rangers apart.
10 point penalty and perhaps a ban on signing players for a couple of seasons. Big wows. Jobs a good un.

It's clever thinking, but shocking how it can be allowed to happen.

This has not happened yet so he is not clever yet.
If HMRC have the right to object to administration and they(rangers) are denied the application to do so until the tax case is decided then rangers lose that, it would probably be straight to liquidation for them and possible tax evasion charges for whyte.
I doubt HMRC have not planned for this move since its pretty predictable. Looks like an attempt to tangle the issue up in legal arguments to delay dealing with the responsibility for the upcoming tax bill.

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Re: Rangers LOL

Postby Sir Jones » Monday 13th 2012f February 2012 05:59:27 PM

It is a total scam and not right. But I reckon Whyte’s had a clear plan all along. Registering the two new company names a few months ago makes me think he may just take us to the wall. He borrowed £20m of Ticketus too on future season ticket income and if we go into liquidation and start again under a new company then this income will still be ours and not Ticketus etc. They’ll have just been scammed for £20m … which again ifit was your business you would not be happy. Think CW is a bit of a crook like lol.


From my Rangers mate - spot the excellent stating of the obvious at the end there...

If this is Whyte's thinking all along then he is really playing with fire. To take £20m from Ticketus and to, most likely, always have this final "solution" in mind is fraud in my books. Directors are not allowed to work like that and if found guilty he would be in deep sh1t.

Still, I can't help but think he's pulling the rabbit out the hat with all this and that Rangers are magically about to wipe a massive chunk of their debt off with absolute ease.
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