Baxter Parp

Not even Rangers.

My arse it does.

For £24m. If Whyte isn't a fit and proper person to be Rangers boss then he has no right to pay off their debts. Ticketus are not going to give away £24m for nothing.

If you think Ticketus are going to go: "Oh well, there goes £24m down the Swanee." you're barmy. They'll either sue the bank for their money back or if the deal is null and void the bank will have to give the money back as the funds were the proceeds of a fraudulent act. Rangers aren't going to get £24m for nothing.

Which means he wasn't in a position to pay off Rangers bank debt and the bank will be forced to give that money back to Ticketus.

It didn't start.

No, but we're in purgatory.

Better than paying them money you don't have every week.

Cultural cringe.

Not sure that's true. £14-£15m is achievable, the possible £50m judgement hasn't happened yet.

The money that they're after includes a pile of VAT which generally has a more robust attitude than the income tax regime, so you never know.

I'm a hundred percent certain that Dave Hartnett doesn't give a flying fark about Rangers, but he is mates with Vodaphone's Head of Tax.

Rangers current predicament is due to HMRC trying to retrieve £14m worth of VAT and Income Tax unpaid since Whyte took over - nothing to do with the players.

Unfortunately HMRC's leadership is utterly disgraceful. There's supposed to be a hardline against footballing shenanigans at the moment and I'm not sure how they can get away with accepting one CVA at Rangers and then rejecting another at (say) Portsmouth. If they accept this one they'll logically have to accept pretty much any one.

The current candidates cannot be considered new directors or independent in any way.

Entering administration in bad faith and with the sole purpose of avoiding the payment of taxes due is quite frowned upon by hmrc. It's pretty much the definition of phoenix fraud.

It isn't. Unless there's some kind of alternative that nobody's thought of yet.

Yeah, they're too busy throwing billions at Vodaphone.

HMRC never agree to CVA's as a point of principle.

Don't worry it would surely only affect Junior teams in the Lanark area.

Good. Maybe they'll go to their local club's games.

All they have to do is buy some other wee club and rename them "*** Rovers" or something.

It's not a parachute, they'd have to apply like everyone else. It's just very, very likely that they'd be accepted which is why it's also very very likely that few wee clubs would bother to apply at the same time

12.50pm: Keith Wyness, former Chief Executive of Aberdeen has said he believes Rangers should be stripped of their honours if an inquiry shows that they’ve broken rules regarding payments to players. Wyness also believes that Scottish football could be stronger if Rangers do go out of business. From the Scotsman

Unfortunately Rangers made it plain that they would not expect anything back from the players, which makes them payments. This is the crux of HMRC's case.