Big Rangers Administration/Liquidation Thread - All chat here!

[Pachyderm I]

So this Miller guy is from just down the road. He owns Chattanooga FC. They are a top notch lower division outfit.

That said, it is a shame that no suitable Scottish owner could be found.

Love to see Rangers play a friendly of some sort over here...

ooops! Different guy. my bad.

http://www.bbc.co.uk/news/uk-17943872

[WhiteRoseKillie]

If rangers go to the third, I'd confidently reckon on Celtic winning the treble for the three years (assuming Celtic had a competent manager)

Aye, 'cos it was rangers that beat them in both cups this season.....

[chrismcarab]

Said it before in my letter to my club and the SFA and SPL, but if this goes through and they get in unpunished, Scotland will forever be seen by the rest of the world as the country that condoned cheating in association football.

More corrupt than South America and Italy combined. That's a nice tagline for the SPL.

[ribzanelli]

None, but a fair few are fucked, look at partick thistle, raith rovers, airdrie utd. These clubs could remain uncompetitive for the next ten years.

I would suggest that these teams financial difficulties stem from "chasing the dream" ie building stadiums which conform to (ridiculous) SPL requirements rather than from a direct consequence of relegation and losing out on Old Firm revenue.

[p&b is a disgrace]

I can't see how Rangers are going to transfer players contracts and all relevant SFA,SPL documentation in a week before next Satudays fixture that surely would be an impossible task .

It would also mean that Rangers ( in its current guise ) have no players to fulfill next weeks game.

Edited May 6, 2012 by p&b is a disgrace

[Sting777]

So you'd think Michael Johnstone's commens yesterday would be worthy of some attention, right? Not for Leggo, who is so worried about the involvement of someone with a Catholic name and schooling getting a jjob at Ibrox he's fecked up the formatting of his blog: http://leggoland2.bl...celtic-man.html

Maybe this is Millers masterplan. Make Rangers an all Catholic club, run by Catholics from head to toe, build a new chapel inside Ibrox, give out rosary beads with every season ticket bought. Now if he did all that I would gladly see them getting off scot free!!

[Sting777]

I would suggest that these teams financial difficulties stem from "chasing the dream" ie building stadiums which conform to (ridiculous) SPL requirements rather than from a direct consequence of relegation and losing out on Old Firm revenue.

100% correct and we were the team that suffered most from it

[thelegendthatis]

I can't see how Rangers are going to transfer players contracts and all relevant SFA,SPL documentation in a week before next Satudays fixture that surely would be an impossible task .

Never mind that creditors ( even relativelysmall ones ) could delay that with even a speculative injunction .

Good point, but excuse my ignorance of company law here, but some questions are bothering me...

Rangers had players on contracts, which I presume were pretty watertight. Some clubs discussed buying some of these players and no doubt transfer fees were discussed. So in other words Rangers had physical assets which could be turned into cash, while reducing running costs at some point. This would have been beneficial to the creditors of the club in administration to some extent.

Then the administrators wiped out this value in their agreements with the players. The main purpose did not appear to be trying to achieve a best return for the creditors and therefore improving the chance of a CVA.

Now we have a completely new club being setup. This will a genuinely new company with no legal connection to Rangers other than wanting to use the ground and training facilities and the use of the name in some form. So for this new company, the assets (= players) which we all know had a significant value is going to be given free of charge to this start-up company by the administrators of the old Rangers. Then we are told this move will be approved by the SFA.

I can't believe many administrations/liquidations go through similar processes - legally.

[thelegendthatis]

I would suggest that these teams financial difficulties stem from "chasing the dream" ie building stadiums which conform to (ridiculous) SPL requirements rather than from a direct consequence of relegation and losing out on Old Firm revenue.

John McFall, the former Labour MP who chaired the House of Commons treasury select committee, said about Rangers

"When you spend money you don't have and you use HMRC and the taxpayer as your private bank then it has tragic consequences for Rangers as an institution, Scottish football, fans and for Scottish community.

"Did the directors do their duty? And, if they did their duty legally, were there any corners cut as a result of that?

"It's the taxpayer who's on the hook here and the taxpayer has got to be paid and football clubs have got to realise that they have got to comply with the regulations that are laid down by parliament and HMRC.

[The DA]

Good point, but excuse my ignorance of company law here, but some questions are bothering me...

Rangers had players on contracts, which I presume were pretty watertight. Some clubs discussed buying some of these players and no doubt transfer fees were discussed. So in other words Rangers had physical assets which could be turned into cash, while reducing running costs at some point. This would have been beneficial to the creditors of the club in administration to some extent.

Then the administrators wiped out this value in their agreements with the players. The main purpose did not appear to be trying to achieve a best return for the creditors and therefore improving the chance of a CVA.

Now we have a completely new club being setup. This will a genuinely new company with no legal connection to Rangers other than wanting to use the ground and training facilities and the use of the name in some form. So for this new company, the assets (= players) which we all know had a significant value is going to be given free of charge to this start-up company by the administrators of the old Rangers. Then we are told this move will be approved by the SFA.

I can't believe many administrations/liquidations go through similar processes - legally.

This whole idea of syphoning off the assets and leaving the toxic debts behind just feels wrong. It's like me watching out for a local business, let's say the RBS, and then offering to buy them, debts and all, for a fiver. I then set up RBS 2012, move all the assets over and tell the original creditors to get tae. Why are none of Rangers creditors (HMRC, Ticketus, United) objecting to this asset stripping?

It just doesn't sound legal.

[wunfellaff]

It would also mean that Rangers ( in its current guise ) have no players to fulfill next weeks game.

Misspell of ''currant''............

[ribzanelli]

This whole idea of syphoning off the assets and leaving the toxic debts behind just feels wrong. It's like me watching out for a local business, let's say the RBS, and then offering to buy them, debts and all, for a fiver. I then set up RBS 2012, move all the assets over and tell the original creditors to get tae. Why are none of Rangers creditors (HMRC, Ticketus, United) objecting to this asset stripping?

It just doesn't sound legal.

Can only imagine they are keeping their powder dry, hopefully no news is good news

[Hey! Ho! Jambo!]

Apologies If I've missed it but what is the general feeling among the Celtic support? They might be key to this.

Methinks most won't be best pleased at 'I can' believe it's not Rangers' remaining in the SPL. I've heard of a boycott of teams voting them back in. This might be an important factor as they do organise well and this gives those voting something else to think about.

[ribzanelli]

100% correct and we were the team that suffered most from it

Without wanting to get in to a c0ck measuring contest, why did PTFC suffer the most? I'm genuinely unsure - I know we had to deal with idiots like Anelka and had a spell in the 2nd, and of course Airdrie went belly up but I don't know the Thistle story?

I hope Hearts etc take the David Murray/Airdrie stance - "gies oor money, this is a business we are trying to run"

[craigkillie]

Apologies If I've missed it but what is the general feeling among the Celtic support? They might be key to this.

Methinks most won't be best pleased at 'I can' believe it's not Rangers' remaining in the SPL. I've heard of a boycott of teams voting them back in. This might be an important factor as they do organise well and this gives those voting something else to think about.

Celtic are shit at boycotts. They've threatened to boycott us at least 3 or 4 times in the past few years, and it has never materialised.

[7-2]

Apologies If I've missed it but what is the general feeling among the Celtic support?

Even more smug, arrogant and poisonous than usual yet still strangely victimised at the same time,

[ribzanelli]

Maybe these "conditions" from Doncaster/SPL are actually win-win - we let you back in scot free if you pay those debts and abide by the EBT judgement (ie we don't get our houses and stadiums burnt down for being the one that slayed the beast), then once the debts get payed the EBT judgement comes down against them resulting in expulsion for cheating.

In fact, Miller might think the same and back out, why pay for a team who might get kicked out in a few weeks or months.

[Johnny van Axeldongen]

Apologies If I've missed it but what is the general feeling among the Celtic support? They might be key to this.

Methinks most won't be best pleased at 'I can' believe it's not Rangers' remaining in the SPL. I've heard of a boycott of teams voting them back in. This might be an important factor as they do organise well and this gives those voting something else to think about.

I hope they remember all this boycott talk if Lawwell is one of the ones that votes NotRangers into the SPL.

[7-2]

Apologies If I've missed it but what is the general feeling among the Celtic support? They might be key to this.

Methinks most won't be best pleased at 'I can' believe it's not Rangers' remaining in the SPL. I've heard of a boycott of teams voting them back in. This might be an important factor as they do organise well and this gives those voting something else to think about.

They'll be boycotting Parkhead as we all know who the first team to vote Rangers back in will be. They keep overlooking this fact in their rush to blame the diddies.

[thenolly]

Good point, but excuse my ignorance of company law here, but some questions are bothering me...

Rangers had players on contracts, which I presume were pretty watertight. Some clubs discussed buying some of these players and no doubt transfer fees were discussed. So in other words Rangers had physical assets which could be turned into cash, while reducing running costs at some point. This would have been beneficial to the creditors of the club in administration to some extent.

Then the administrators wiped out this value in their agreements with the players. The main purpose did not appear to be trying to achieve a best return for the creditors and therefore improving the chance of a CVA.

Now we have a completely new club being setup. This will a genuinely new company with no legal connection to Rangers other than wanting to use the ground and training facilities and the use of the name in some form. So for this new company, the assets (= players) which we all know had a significant value is going to be given free of charge to this start-up company by the administrators of the old Rangers. Then we are told this move will be approved by the SFA.

I can't believe many administrations/liquidations go through similar processes - legally.

This is what is known as "Pheonixing" and is illegal as per the SFO