Big Rangers Administration/Liquidation Thread - All chat here!

[Macshimmy]

He is a jekyll and hyde as well. In his Queens days , I was chatting amicably to him about that days game in a Dumfries nightclub. Out of the blue ,he took a swing at me , missed completely and then stepped behind his local minder . By fxck, he could take some drink

All together now...

'Two Andy Gorams, there's only two Andy Gorams!'

[~~~]

Mark Hately with another belter today

http://blogs.dailyrecord.co.uk/markhateley/2012/04/rangers-cant-do-walking-away-f.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheDailyRecord%2FMarkHateley+%28The+Daily+Record+-+Mark+Hateley%29

IF RANGERS were an ordinary outfit they would stick two fingers up to the SPL and head for the foot of the Third Division.

However, this has always been more than a club.

There must be a strong temptation among the bidders vying for the club to conclude a deal and manufacture a siege mentality.

They would be wrong to do so but who could blame them? After all, with liquidation on the cards the SPL and SFA have done little to support one of its biggest members.

The SPL's latest raft of hastily penned legislation means if the Ibrox club start next season as a newco they face two years with a 10-point deduction.

Also a loss of revenue for three seasons that could amount to almost £6million for the club.

The timing of the announcement has delayed the plans of administrator Duff and Phelps to select a preferred bidder.

And as a result, Ally McCoist's planning for the new season has been disrupted further as at least another month is added to the timescale for him to select a squad for the challenges ahead.

The proposed new rules are too severe, although Rangers should not escape Scot-free.

A 10-point penalty for two years I can just about accept.

But more crippling points deductions and the withdrawal of 75 per cent of SPL funding smacks me as just too punitive.

Rangers have rightly been deducted points for entering into administration and will be penalised again if they are forced to liquidate all together.

But who at the SFA failed to conduct due diligence on the change of ownership of one of their oldest members?

Rangers are rightly being taken to task for their woeful financial mismanagement but who is taking responsibility for the SFA's role?

But the worst request any new owner could make would be for demotion to the Third Division.

Rangers fans may have to write off title success for the next few years but they can blood their kids and fashion a new team in the SPL rather than at places such as Annan and Albion Rovers.

Supporters are going to have to suck up a lot of pain in the next couple of seasons as the club struggles.

Rangers can't be transformed overnight in the fashion of Chelsea or Manchester City because new investors won't have access to the billions of Roman Abramovich and his likes.

But they'll hopefully have a wealth of integrity and decency, which seems to be in short supply right now.

As told to Gary Ralston

[Gaz FFC]

.They deserve everything they get, BUT we really shouldnt be surprised if they get away with it.Scottish football is corrupt to the core and has been for years!!

Well said that man.

[Gaz FFC]

It's all my own fault for buying them (force of habit) but today's tabloids pissed me right off

They wouldn't care 1 little bit if this was a diddy team (anybody bar the Old Firm) yet everyone was having their say today.

Unless i missed it nobody actually said 'well did Rangers think they could do what they liked to the taxman and Scottish football'?

[Bairn]

It seems to be that 'All clubs are equal, but some are more equal than others...'

[Mark Connolly]

Mark Hately with another belter today

http://blogs.dailyre...Mark+Hateley%29

No wonder the fans are burying their heads in the sand when the "experts" are writing stuff like this.

How dare they penalise Rangers for cheating!

[Macshimmy]

It's all my own fault for buying them

I thought you meant Rangers for a second there.

Queen of the South takeover by unknown consortium

It understood that the consortium would look to install Gary Bollan as the club's manager should the deal go through, with Andy Goram as his assistant.

Hmm. Reserve parachute plan?

Edited April 13, 2012 by Macshimmy

[P45]

Mark Hately with another belter today

http://blogs.dailyre...Mark+Hateley%29

The last sentence speaks volumes- "As told to Gary Ralston"

Hateley is too fucking thick to write a column with proper grammar and punctuation so this clown does it for him.

[No8.]

The last sentence speaks volumes- "As told to Gary Ralston"

Hateley is too fucking thick to write a column with proper grammar and punctuation so this clown does it for him.

Have you never read a tabloid before? This is common practice for the articles attributed to ex pros.

[Ric]

Mark Hately with another belter today

FTA:

"But they'll hopefully have a wealth of integrity and decency, which seems to be in short supply right now."

Aye, not least from Mr Hately himself. He was a decent player in his time but by God what a load of shit he talks off it.

[CityDave]

Isn't that EXACTLY why most of us want him to stay, not be removed?

If we can't get rid of them, (because the SFA, SPL, meedja etc. won't let them die) then at least let them carry on getting more and more fcuked up

The longer this continues they will end up owing money to every SPL club and will have no intention of paying up in a hurry, how will this effect those clubs ability to pay their own bills or retain/ bring in new players etc?.

The administrators protect Rangers from the creditors, but who protects the creditors present and future from Rangers?.

Could have a big say in who gets the European placings/top six/ relegated. At least when there's TV money due to Rangers the SPL can divert that money to clubs who are owed, otherwise it would will be gone.

The more this goes on the more in favour I'am of Rangers being kicked out of the SPL completely, no other league in Europe would tolerate this blatent disregard for the rules, the SPL, the other clubs and all the people and all the companies that now come under the label of creditors.

[Drew Brees]

American view of he current rangers scandal stolen from another forum.

http:\\bleacherreport.com\articles\1...c ottish-soccer

Imagine if you will an athlete. Let’s say he’s a 100m runner, and he has dominated the field for 10 years. He’s so successful, so popular, so charismatic,thatmany people considerthefuture of theevent itself depends on his continued participation, and success in, competition.

He brings millions of dollars into the sport in sponsorship and television deals every year, and if he was to retire, no one would be interested in attending track meets or watching them on television any more.

Now this athlete has been at the top of his game for many years, but time is catching up with him. It emerges that he has recently been using a new type of performance enhancing drug, and this discovery throws up the revelation that actually, he has been using steroids for his whole career. What should happen to our now disgraced hero?

Should he be stripped of every Olympic and World gold medal he has won while using performance enhancing drugs? Should his personal records be removed from their placing in theworld records? Should he be banned from all competition for at least the minimum period prescribed in the rules?

Or should he be forgiven and excused it all as a simple matter of expediency? We can’t have the money-tap for the sport turned off, after all. Can we?

What’s more, years of steroid abuse have caused serious physical deterioration in our athlete, and he may have to retire from the sport. Should the sport pay for his medical treatment to allow him to continue?

Consider then the curious case of Rangers Football Club. The most successful club in Scotland, they have won the Scottish title 54 times and claim over 100 first-class honors in their history. They attract the second-highest attendances in the SPL and their fan base probably provide the majority of the viewing public for SPL matches televised on Sky Sports and ESPN.

Despite this, Rangers is in trouble. Since the club was taken over by Craig Whyte in May 2011, they have not remitted any of the taxes due to Her Majesty’s Revenue and Customs (HMRC) in Pay as You Earn (PAYE) tax and National Insurance Contributions (NIC).

Under previous owner Sir David Murray, the club operated an Employee Benefit Trust (EBT) scheme from 2000 to 2010. This is a scheme whereby employees are paid (and taxed on) a very small percentage of their wages. The remainder is paid into a trust, which then gives “loans,” to the employee, which are non-taxable and never repaid.

This is perfectly legal, but the key word is “trust.” The employee must “trust” the employer to ensure they are paid, “loans,” from the trust.Contractual payments absolutely cannot be made through the EBT. Evidence has emerged in the public domain which suggests that Rangers players were assured in writing that they would be paid from an EBT, and that they would never have to repay the money.

HMRC maintain that the payments made to Rangers players in this period were contractual in nature, and therefore taxable. They have presented Rangers with a bill for £24m in unpaid taxes, and £12m in interest. Should the First Tier Tax tribunal find in their favour, a further penalty will be imposed, which could see the final bill reach as much as £75m.

Since at least 1999, when a similar tax dodge was operated (Rangers admitthisand havecommitted to paying £2.8m to HMRC), Rangers has therefore used non-payment and evasion of tax to give the club a financial and sporting advantageoverevery otherclub.

That’s not all. As Rangers has made payments to players which were not included in their contracts, the players involved were not correctly registered with the national association, and so ineligible. The accepted sanction for fielding of ineligible playersin soccerisforthematch to be recorded as a 0-3 defeat.

Since 1999, Rangers has won the Scottish Premier League seven times, whilst fielding ineligible players whom they could not have afforded to pay if they were not avoiding making tax payments on their wages.

To the outsider, it seems simple. Rangers must be stripped of all honours won during their financial “doping” years.

It goes beyond even this. The President of the Scottish Football Association is Campbell Ogilvie. He has held influential positions with the SFA and SPL over a period of many years, going back to the 1990’s. At which time, Campbell Ogilvie was the Secretary of Rangers FC.

Indeed, Campbell Ogilvie was himself paid via an EBT during his time at Rangers.Both theSFA and SPL have launched investigations into Rangers’ conduct in the years since 1998, but there is no confidence within the Scottish soccer community that they will take any serious steps to dealwith Rangers’ wrongdoing.

One thing Rangers cannot escape though, is financial reality. It finally caught up with them on 14th February when the club was placed into administration.

This is a UK legal term which basically means thata court-appointed team take over the running of the company. It prevents creditors from taking legal action against it, and the administrator must take steps to make the company profitableto ensurecreditorsarepaid.

The administrators may seek to arrangea CompanyVoluntaryAgreement (CVA)with thecreditors. This requires the agreement of 76 percent of the creditors by value. It means that all creditors would accept a pennies-to-the-pound deal. Once they are paid, for example, 30p for every pound owed, the company can exit administration and emerge debt-free.

If the creditors do not agree a CVA and the company cannot pay them in full, it is then liquidated. All assets are sold off and the proceeds distributed evenly amongst the creditors.Asthemajority of Rangers’ debt is owed to HMRC, the chancesof a CVAareunlikely.It isthepolicy of HMRCto reject CVA’s.

The most likely outcome for Rangers FC is that they will soon be liquidated. The club will cease to exist. Here’s where it gets interesting. The SPL yesterday published a set of proposed changes to their Financial Fair Play policy.

Amongst them, is a proposal to allow a club, on liquidation, being allowed to transfer their, “share,” or membership of the SPL, to a new company. This would mean that should Rangers be liquidated, their directors, or anyone else who wants to buy their stadium, training ground and players, can do so and be given Rangers’ place in the SPL.

Effectively, this would mean a debt-free company, called Rangers FC, playing in blue shirts at Ibrox Stadium next season, while HMRC and other creditors (Rangers are in debt to possibly as much as £134m) are left with nothing.

One of those creditors is Heart of Midlothian FC, from whom Rangers signed full-back Lee Wallace. They still owe £800,000, which is unlikely ever to be paid. Another is Rapid Vienna, from whom Rangers purchased Nikica Jelavic, whose goals were instrumental in their winning of the SPL last season. Rapid are still owed £1m, and despite Rangers selling him to Everton FC for £5m in January, Rapid are unlikely to ever see their money.

Effectively, the SPL propose to issue a cheats’ charter,and coincidentallyI am sure,just as it looks like Rangers are to be liquidated. Nothing like this happened just four years ago when Gretna FC were liquidated.

Rangers FC is in serious danger of being liquidated because they have lived beyond their means for far too long, in the process distorting the market in Scotland.

It has abused the tax system to give itself an unfair sporting advantage over the rest of the clubs in the SPL.

It has bought players from other clubs it could not afford to pay for and had no intention of ever paying for.

And the Scottish sporting establishment, governing bodies and media, want everything possible to be done to facilitate Rangers, who have destroyed the sporting integrity of the Scottish game, escaping the consequences of their self-inflicted troubles.

To return to our doped up and physically damaged by self-inflicted wounds athlete, it appears that in Scotland at least, all the stops WOULD be pulled to ensure his continued participation in the sport.

We can’t allow the money-tap to be turned off, after all. Can we?

Edited April 13, 2012 by Drew Brees

[Ken Fitlike]

Ah man, 472 pages of sheer joy (for the most part), lots of long awaited grave dancing and tons of information on the byzantine ins-and-outs of the financial clusterfcuk and (allegedly) fraudulent activity by the most horrible rogues gallery of fly-by-night charlatans ever assembled.

thanks to all contributers.

One thing puzzles me....

In the event of Liquidation, surely all the assets are sold off to pay as much of the creditors debts as possible. Yes?

So where will any 'Newco' (or Govan Zombies as I previously tried to get them named) start from as a new business, let alone magically resume the RFC place in the SPL?

sorry if that is a dumb question.....

I imagine with the huge support they can muster, they would immediately have resources to quickly build back up to being ahead of everyone but Celtic, but they would not own Ibrox, they would have NO players or any of the other assets of a functioning club from their post liquidation starting point.

[Highlandmagyar]

Ah man, 472 pages of sheer joy (for the most part), lots of long awaited grave dancing and tons of information on the byzantine ins-and-outs of the financial clusterfcuk and (allegedly) fraudulent activity by the most horrible rogues gallery of fly-by-night charlatans ever assembled.

thanks to all contributers.

One thing puzzles me....

In the event of Liquidation, surely all the assets are sold off to pay as much of the creditors debts as possible. Yes?

So where will any 'Newco' (or Govan Zombies as I previously tried to get them named) start from as a new business, let alone magically resume the RFC place in the SPL?

sorry if that is a dumb question.....

I imagine with the huge support they can muster, they would immediately have resources to quickly build back up to being ahead of everyone but Celtic, but they would not own Ibrox, they would have NO players or any of the other assets of a functioning club from their post liquidation starting point.

Such LITTLE details really!! Have you NO faith in Scottish footballs corrupt practices??

[Soap McTavishs Lovechild]

Bit of plagiarism here but.................I prefer to call them Nosferatu FC!

[Homer Thompson]

Ah man, 472 pages of sheer joy (for the most part), lots of long awaited grave dancing and tons of information on the byzantine ins-and-outs of the financial clusterfcuk and (allegedly) fraudulent activity by the most horrible rogues gallery of fly-by-night charlatans ever assembled.

thanks to all contributers.

One thing puzzles me....

In the event of Liquidation, surely all the assets are sold off to pay as much of the creditors debts as possible. Yes?

So where will any 'Newco' (or Govan Zombies as I previously tried to get them named) start from as a new business, let alone magically resume the RFC place in the SPL?

sorry if that is a dumb question.....

I imagine with the huge support they can muster, they would immediately have resources to quickly build back up to being ahead of everyone but Celtic, but they would not own Ibrox, they would have NO players or any of the other assets of a functioning club from their post liquidation starting point.

I believe, but someone can correct me if Im wrong, that the transfer/sale of assets to the newco can be arranged and agreed before liquidation actually takes place.

[TheTaxMan]

Traynor reads P&B!

http://www.dailyrecord.co.uk/football/spl/rangers/2012/04/13/jim-traynor-column-rangers-must-start-from-scratch-in-division-three-86908-23823231/

[TheTaxMan]

Neil Lennon - no comment.

http://www.google.com/hostednews/ukpress/article/ALeqM5gzZdER37rxyJuOaVxO8wMfS1vJhw?docId=N0282461334322125646A

[Guest]

Traynor reads P&B!

http://www.dailyreco...86908-23823231/

And it would be much worse if Rangers have to be reformed because of liquidation. Life in the SPL with all the new sanctions would be purgatory. It would, in fact, be virtually pointless.

what a cock.

[Gaz FFC]

Traynor reads P&B!

http://www.dailyreco...86908-23823231/

I've heard/read enough from journalists to realise that a lot of them browse these very forums it's probably the only way they will hear about teams like Inverness and St Johnstone.

The stuff these guys print to suck up to the old firm is breathtaking and they surely must be embarrassed writing and printing the drivel.

It took a very long time for any paper to even contemplate the idea that HMRC wont agree to a CVA and liquidation was most likely, yet they continued to write about lord Paul Murray who was gonnae ride in on his big horse and save the day with his fellow knights.

Finally the penny has dropped with most papers and now they are wheeling out ex old firm stars to tell us how the new raft of SPL liquidation rules are unfair and that it's their baw and they're no longer playing.

I find my hatred growing for Rangers on a daily basis and weirdly it isn't because of the ogres that follow follow them but mostly due to the papers telling me daily that Rangers should be let off and us diddy teams should know our place.

If 1 more journo spews out that line that "Scottish football is dead without Rangers" i may just combust with rage. That line is guaranteed to get me shaking and angry no matter how good my day is going.

Maybe i am being unfair to the journos though, to them Scottish football would be dead without Rangers, it's all they know to write about the fuckwits