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Big Rangers Administration/Liquidation Thread - All chat here!

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Firstly, I know there's a multitude of threads running - many of which now only exist for our amusement, posting of 'pleasing' gifs, and general 'let's all laugh and point at Rangers' merriment....

The more I'm hearing though, the more I'm looking towards the actual end game here, and would like to gauge reaction as to where we will be a year, two years, however many years down the line. For as long as i remember I have personally felt disgusted by the way football clubs play fast and loose in a manner no 'normal' business can ever hope to get away with. I see this going the same way as so many clubs before them. They'll dodge the big one by playing the administration card. They won't be the first, they won't be the last. So, what's your prediction for the actual end to this?

To my eyes it's all set up with Whyte knowing all along that he would decide when to play the administration joker card to position himself as main creditor. I genuinely believe some sort of deal will grudgingly be accepted by HMRC. There will be pain for Rangers - but they will indeed dodge the big hammer blow. Short term pain, longer term, they'll weasel a way to rise phoenix-like from administration, as I say, like so many morally bankrupt cheating football clubs before them.

Thoughts? Hopefully not just of a 'LOL' nature! Really looking to see what you guys seriously see the end of this actually being when the dust settles.

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Personally, I believe that they will find a way around it. However, I can't see how HMRC would feasibly accept any deal when there are still assets which can be sold off to at least partly repay them.

However, I feel they'll be stripped clean and start again, though this has undoubtedly tarnished them irreversibly and they will always carry the burden of being cheats and tax dodgers around their necks. Anyone who believes that Rangers will come out the other side of this and be stronger is seriously deluded.

Edited by djchapsticks

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I've just posted my own note of caution on the main thread.

It seems that administration is a facility for football clubs to largely dodge responsibility for financial imprudence.

I'm no expert on the process, but it seems to me that Whyte has had this one up his sleeve for a while. Whether he is looking for personal gain is another question, but I suspect that Rangers as an entity will suffer a mere flesh wound regardless.

How will it pan out? It wouldn't surprise me if Whyte has someone in the wings who will swoop in and assume ownership of Rangers for a song, but this time, minus the crippling debts. Whyte will get his 'cut', and Rangers will still be in a position to operate at a financial level way beyond the rest of Scottish football, Celtic excepted.

It is sickening to contemplate, but they'll steer a way through this.

Edited by Drooper

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I've just posted my own note of caution on the main thread.

It seems that administration is a facility for football clubs to largely dodge responsibility for financial imprudence.

I'm no expert on the process, but it seems to me that Whyte has had this one up his sleeve for a while. Whether he is looking for personal gain is another question, but I suspect that Rangers as an entity will suffer a mere flesh wound regardless.

How will it pan out? It wouldn't surprise me if Whyte has someone in the wings who will swoop in and assume ownership of Rangers for a song, but this time, minus the crippling debts. Whyte will get his 'cut', and Rangers will still be in a position to operate at a financial level way beyond the rest of Scottish football, Celtic excepted.

It is sickening to contemplate, but they'll steer a way through this.

That's my greatest fear sad.gif

My greatest hope would be that they get fucked hard i.e: 3rd Division and that scientist clone 5 Jim McLean's & 5 Alex Ferguson's (age circa 40) to manage us "diddy" teams and Celtic end up relegated by a record points margin ! cool.giftongue.gif

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I've just posted my own note of caution on the main thread.

It seems that administration is a facility for football clubs to largely dodge responsibility for financial imprudence.

I'm no expert on the process, but it seems to me that Whyte has had this one up his sleeve for a while. Whether he is looking for personal gain is another question, but I suspect that Rangers as an entity will suffer a mere flesh wound regardless.

How will it pan out? It wouldn't surprise me if Whyte has someone in the wings who will swoop in and assume ownership of Rangers for a song, but this time, minus the crippling debts. Whyte will get his 'cut', and Rangers will still be in a position to operate at a financial level way beyond the rest of Scottish football, Celtic excepted.

It is sickening to contemplate, but they'll steer a way through this.

^^^ tru dat

Even in the unlikely event of Rangers going into liquidation, a new "Rangers 2012" will be allowed straight into the SPL as "integral to the league's brand" or some such other utter hypocrisy. (code: "integral to the TV deal which will disappear without the OF derby")

We had to suffer the consequences of the demoted and ineradicable-athlete's-foot-in-a-cheap-trainer that is the "Livi" franchise in 2009-10, and it killed our league for a season. I'd imagine a re-formed full-time Rangers rubbing along on gates of 5-6k. would do much the same to the competition that season, and it's be far less pleasant as a result.

Edited by Ivo den Bieman

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So far, responses are going the way I expected. Pretty much along the lines of no matter how it's achieved, Rangers WILL find a way out of this.... I'm genuinely not praying that they bite the dust, no really, but they DESERVE to bite the dust.

If it pans out the way many of us seem to think it will - I.E. Rangers carry on following some short term pain, but in the grand scheme of things, having dodged their debts and eventually re-emerge smelling of roses... then why don't we all just say 'fcuk it' and let's see us diddy clubs spend what we don't have, cheat the taxpayer, do whatever it takes to enjoy some success and worry about the consequences later?

Anyone think they WON'T dodge the big hammer blow? If so, what will it take for Rangers to actually be the first to fall in a long list of big-name clubs, especially down South, who rack up massive debts and unpaid tax bills - but don't actually bite the dust, they always manage to pull back from the brink. Is it just as simple as HMRC making a stand, digging in their heels and making an example of Rangers, in order to flex their muscles in relation to even bigger EPL club debt?

Will they? Can they? Will Scottish politicians and the media, in association with the SPL and SFA be able to stop HMRC from actually killing off Rangers if that's what HMRC try to do?

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Hmm I can't say I know how it'll pan out but, unlike in previous cases, I think they will find the massive HMRC bill will make it tough to keep going or be stronger than ever as they seem to be going on about - I think it's wishful thinking. Even if the other creditors are down in the pecking order they can't simply be ignored can they? If they can sell something then surely it has to be sold.

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there will be a trail of local companies who have probably backed rangers to the hilt for decades that will bite the dust due to unpaid bills by the club, there will be companies who will have to lay off staff and there will be umpteen members of staff at rangers who will lose their jobs. publicly funding will be effected as the hmrc have to write off the majority of their debts in order to recoup anything.

as for the club, i suspect they'll take the ten points and have a couple of years of austerity which will be hard to stomach for the glory hunters, but then it will be business as usual.

It's a mess and everyone will end up paying for it. I genuinely would rather they went into liquidation and have to start again with a reapplication for league entry - they deserve it for the trouble they have caused.

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Agreed Drooper. Since the original Portsmouth administration, I've regarded this as a weapon of choice, provided the club is just big enough to benefit as the fans rally round to support the club in its hour of need. Of course it's cynical and disgusting when one thinks of the small creditors who get shafted, but otherwise sentient human beings lose their moral bearings when it comes to their football club. The idea that their love is a rotten institution and that they should, or even could, find another is anathema. The timing is perfect for Rangers, given that this couldn't be avoided, and the points penalty is as meaningful as you'd expect when a team who've won their national league 54 times has to wait a wee while longer for title 55. The schadenfreude is inevitable given how Rangers and their fans present themselves, but the shysters will stay in charge of the asylum!

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They will come out of it debt free and this will all be forgotten.

In a dream world, they'll have to resort to signing talentless journeymen and get relegated down the divisions.

Edited by JamboMikey

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What is clear is that Whyte will have been fully aware of the tax liabilities when he took over the club. Alistair Johnston has confirmed that Whyte carried out more due diligence on this aspect than anything else. The route to administration will have been well mapped out. He will have chosen this moment after managing to sell the clubs biggest asset in the transfer window and when the tribunals decision was imminent

Whyte is the club's main secured creditor via a floating charge over its assets.

He and his allies would have to have more than 75% of the debt to get a CVA through. If he cannot get a CVA in place he may be able to pursue other routes such as receivership or pre-pack administration to satisfy the debts which the club owes him.

In these scenarios the club would be formally wound up but Rangers FC 2012 would undoubtedly emerge.

SFA/SPL would find a way to readmit them to the league.

Edited by MacWatt

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Rangers will be able to handle the administration issue 'easily' enough - it will hurt and it will f**k them for a wee while but as countless others have shown administration is a protection mechanism, not the big black hole we thought when Motherwell set the trend!

That said, HMRC don't strike me as being willing to roll over and have their tummy tickled. They need however much cash they can get but they've put a massive emphasis in the last few years of not letting football clubs take the piss out of them. I really don't see them changing now which would compromise their future ability to threaten clubs over whatever money is owed.

Quick question - though Whyte is the preferred creditor and first in line for the dividend paid out, is the majority creditor (obviously the HMRC in this case) not still the more important in agreeing the deal? So if they say no deal, Whyte and Rangers would still be up the creek?

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Nothing will change in the long term, our pro game will continue to be blighted and ruined by the two cheeks. Enjoy the short term LOLs while we can

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HMRC will NOT cut a deal with Rangers.. Rangers will pay the full amount or they will be liquidated...

Sadly, I think you laced your ice cream and jelly with a wee bitty too much rasberry sauce.

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So far, responses are going the way I expected. Pretty much along the lines of no matter how it's achieved, Rangers WILL find a way out of this.... I'm genuinely not praying that they bite the dust, no really, but they DESERVE to bite the dust.

Fingers crossed.

If it pans out the way many of us seem to think it will - I.E. Rangers carry on following some short term pain, but in the grand scheme of things, having dodged their debts and eventually re-emerge smelling of roses... then why don't we all just say 'fcuk it' and let's see us diddy clubs spend what we don't have, cheat the taxpayer, do whatever it takes to enjoy some success and worry about the consequences later?

Because we are not all morally bankrupt. (coming from 'Well fan I know, I know.....but surley we were a warning to others.)

Anyone think they WON'T dodge the big hammer blow? If so, what will it take for Rangers to actually be the first to fall in a long list of big-name clubs, especially down South, who rack up massive debts and unpaid tax bills - but don't actually bite the dust, they always manage to pull back from the brink. Is it just as simple as HMRC making a stand, digging in their heels and making an example of Rangers, in order to flex their muscles in relation to even bigger EPL club debt?

Looks like HMRC are trialing it out, al la Poll Tax. It would surpirse you how little the big club is down south.

Will they? Can they? Will Scottish politicians and the media, in association with the SPL and SFA be able to stop HMRC from actually killing off Rangers if that's what HMRC try to do?

Those organisations have absolutely no clout with HMRC and HMRC will ignore them. HMRC got pummelled recently for letting off Vodafone, they won't do that again.

HMRC took on Redknapp and lost. Then came out with "we will pursue you all" If that frightened some people to own up then HMRC won a victory of sorts. Same with ths tax case. Even if they lose but stop companies paying staff this way they claim a slight victory.So I cannot see HRMC do anything but pursue them for everything they can.

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HMRC will NOT cut a deal with Rangers.. Rangers will pay the full amount or they will be liquidated...

I wish that was true. I really hope the HMRC don't back down but sadly I think they will.

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The club will be liquidated, there is no doubt in my mind about that. It's just a matter of how much groundwork Whyte has done to transfer assets for ease of starting a new club, as far as i can see.

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