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Big Rangers Administration/Liquidation Thread - All chat here!


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When the Big Hoose is closed down, even if it is for a temporary period, then they must be stripped of all their trophies, and any claims to their trophies.

None of this five-star, 'the most successful league side in the world' pish should survive. Their history should be wiped out.

2yv1n60.jpg

"Rag and Bone! Rag and Bone! Bring out your redundant trophies illicitly won! Rag and Bone!"

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King making big noises about Liquidation being inevitable, and in the same breath talks about the club not being in Europe next season - is it not the case that a NewCo (which is what will probably happen after Liquidation) won't be eligible to play in Europe for 3 seasons?

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My question regarding a NewCo is this: where would they play from? Who owns the assets? I don't see how it should be legal to transfer all the assets from the existing company and leave the liabilities, if not, then who's going to own the 'Big Hoose'?

If Rangers wish to form a NewCo then all their assets should be divvied up and sold for the taxpayer's recompense. Build a supermarket or council housing on it.

That ought to put a spanner in their works of their procession back into the SPL too.

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Nicked from CQN:

SPL could learn from Irish FA. SFA could learn from everyone

Posted on 7 March, 2012 by Paul67

Before the SPL launch headlong into the process of ensuring Financial Fair Play they would do well to look over the water at the Irish Football Association (we’ll leave aside the fact that it’s the Irish FA who are on top of this situation there, but the league who are looking to tighten things up here, as the SFA await the next Any Other Business moment on a scheduled meeting).

Each month, every IFA club are required to complete a form which details information on whether wages, PAYE, NI and VAT have been paid. It also asks if historic HMRC repayment plans have been maintained, whether lenders have indicated they will remove or not renew borrowing facilities and several other questions designed to flush out future problems. Clubs, which are largely part-time with volunteer administrators, are also required to submit audited accounts.

Importantly, clubs must also authorise the IFA to inquire directly to HMRC to confirm details on the form are submitted accurately.

This single form, with authority to speak to HMRC, would have prevented Craig Whyte’s ‘business model’ from getting off the ground.

While the SPL should be applauded for tackling this issue their action must embarrass the moribund SFA. Embarrassment might reach further heights when the SPL call SFA president, Campbell Ogilvie, to give evidence into their inquiry into Rangers’ alleged double contract practice.

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My question regarding a NewCo is this: where would they play from? Who owns the assets? I don't see how it should be legal to transfer all the assets from the existing company and leave the liabilities, if not, then who's going to own the 'Big Hoose'?

If Rangers wish to form a NewCo then all their assets should be divvied up and sold for the taxpayer's recompense. Build a supermarket or council housing on it.

That ought to put a spanner in their works of their procession back into the SPL too.

In a liquidation, anyone can buy the existing assets, so Ibrox, Murray Park etc could all be sold by the liquidator to anyone. In reality, they'll be sold for beans to someone representing the newco and life will start afresh. Nice.

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Why would someone else not make a higher offer?

Would any business want the 'dubious' honour of being the one to demolish Ibrox Stadium? Obviously it would be brilliant, but the sheer number of resentful fans, and not to mention all the **** in high places, would probably make it difficult

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Can we stop talking about supermarkets as theres an Asda right next to ibrox.

But imagine Celtic put in a bid for Murry park, renamed it and used it for their youths/first team.

:P

But Asda's a hole of a supermarket. Get the big hoose turned into a Sainsbury.

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Exactly, then it would come down to whether the big hoose was worth more as a football venue or a housing estate/ shopping centre/ theme park etc.

Get the liquidiser oot!

It;s only worth as much as a football venue as someone is willing to pay for it. If the NewCo is trying to pay for it, presumably that will be a debt accrued (already) to a director. Lose for Rangers 1690.

If an individual buys it to lease back to them, then instead of having an asset on the books, they have rent to pay. Lose for Rangers 1690.

Hopefully Tesco or some other company comes in and fucks them over. Land available at a knock-down price. We can but hope. :D

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Extremely wealthy, extremely dodgy South African based ex-pat. Currently up to his eye balls in litigation and constantly in court facing battles versus the South African tax authorities. He's Craig Whyte with money, basically. He'll never in a month of Sundays pass a fit and proper persons test.

Oh good, sell him the club.

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Can we stop talking about supermarkets as theres an Asda right next to ibrox.

But imagine Celtic put in a bid for Murry park, renamed it and used it for their youths/first team.

:P

:lol: I can picture the unmatched rage across the nation after Celtic rename Murray park to Stein Park...

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