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Big Rangers Administration/Liquidation Thread - All chat here!

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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.

Well you are 100% wrong. Sorry.

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HMRC would be able to vote on a CVA. They may prefer to do that (and get 10p? in the £) than face some alternative.

Pre-pack administrations however, tend to be bad news for unsecured creditors (like HMRC). Whyte would not have to obtain approval from either the courts or from creditors for this way out.. Pre-packs are similar to the now outlawed practice of creating phoenix companies.

It also is a lot quicker than a CVA and one advantage is that much less goes to the administrator,whose fees are usually a hefty chunk of whatever assets are left.

Edited by MacWatt

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If only you had linked to Wikipedia instead of Yahoo Answers it would have been so much more believable :lol:

NO i Linked the answer of a person that has an idea what is going on.

I would Love Rangers to fold, to be know more and die. However, there isn't a 1% chance of this happening. Lets deal with facts, the average person doesn't have a clue about volentary administration. In the same way they have not a clue about the difference between administration and liquidation. Hence the linkage.

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History tells us that these creatures will wiggle out of their situation with help from their "establishment" cronies. Fortunately, things are a WEE bit more transparent nowadays and HMRC will happily make an example of a so-called "big" club (who are actually minnows compared to the taxdodgers in the EPL) - it's the Poll Tax all over again. As for them dropping into Div 3 - who says they should get an automatic place in ANY Scots league? Haven't the Laptop Loyal been banging on long enough with their "clubs who can't manage their money should disappear" and "Scotland has too many clubs to go round"? Well, if there's one less, maybe the currants can go and watch their local sides. Would mean a decent boost to gates all over Scotland - oh no, I forgot, the glory-hunting scum can't even be arsed going to away games as it is. (or home games if the blue-seat extravaganza last week is anything to go by). Hell mend them, and let's see how the other Sisters get on when they've no-one to hate - can't see many top players thinking 30-odd training games a season (according to the **** fans) will enhance their reputation. Praying hard, but this could be the start of Scottish football regaining some credibility, competition and freedom from bigotry. You may say I'm a dreamer....

KTID

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HMRC will NOT back down, they need to flex their muscles and STOP all other clubs from using this payment to players through offshore accounts/schemes

they will probably settle for 75% payment and the rest on catalogue payments, they will make sure RFC are hit very severley, RFC could sell the stadium name to the highest bidder to get a quick buck

They will come out the other side of this black tunnel and it will probably take 5 years or more before they can challenge CFC for any honours, so if you don't want to see CFC win the next 5/7 titles then I suggest you emigrate

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Posted this on our official forum earlier - wouldn't be at all surprised if this happens:

Rangers go into administration

Staff and players get the boot, thus lowering wage bill

Creditors - including HMRC - told they are only getting 7p in the pound

Leaner, healthier Rangers with sod all debt emerges and starts doing what the previous version of Rangers did 25 years ago.

I wouldn't be one bit surprised if Whyte has been at it all along. This may well have been his plan and the numerous stories about bills going unpaid, players being punted etc is the perfect backdrop for him going to the creditors and saying "See, told you we've got no money". And if doing this clears the debts Rangers suddenly become a far more attractive proposition to investors and he can probably punt the shares for several million times what he paid for them. Wouldn't be a huge surprise if many of the creditors chasing them have Rangers fans in high positions Whyte can tell to take 7p so they can tell their grandkids they helped their club in its hour of need.

Also interesting to hear that doing this ensures Whyte has preferred creditor status - take it that means he's first in line for any cash coming to the club?

Edited by Stu

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Even if Rangers pay their creditors at 10p to the £ won't they still be in massive debt? Any investors and creditors won't touch them with a bargepoll for years.

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I don't think he can "tell" HMRC to accept anything - it might not work out best for them but I think they can refuse

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1329166885[/url]' post='5966028']

History tells us that these creatures will wiggle out of their situation with help from their "establishment" cronies. Fortunately, things are a WEE bit more transparent nowadays and HMRC will happily make an example of a so-called "big" club (who are actually minnows compared to the taxdodgers in the EPL) - it's the Poll Tax all over again. As for them dropping into Div 3 - who says they should get an automatic place in ANY Scots league? Haven't the Laptop Loyal been banging on long enough with their "clubs who can't manage their money should disappear" and "Scotland has too many clubs to go round"? Well, if there's one less, maybe the currants can go and watch their local sides. Would mean a decent boost to gates all over Scotland - oh no, I forgot, the glory-hunting scum can't even be arsed going to away games as it is. (or home games if the blue-seat extravaganza last week is anything to go by). Hell mend them, and let's see how the other Sisters get on when they've no-one to hate - can't see many top players thinking 30-odd training games a season (according to the **** fans) will enhance their reputation. Praying hard, but this could be the start of Scottish football regaining some credibility, competition and freedom from bigotry. You may say I'm a dreamer....

KTID

When the "people" go bust I'm getting my name down for a Parkhead season ticket.

Easy Easy Easy.

tongue.gif

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From the BBC website:

Scottish Sports Minister Shona Robison described Rangers as "a crucial part of Scotland's national game".

She added: "I understand that Rangers and HMRC are continuing dialogue and we obviously want to see an agreement which will protect jobs and enable the club to stay in business.

"Our interest is ensuring that a resolution can be arrived at between HMRC and the club to deliver these vital objectives."

Scottish Labour's sports spokeswoman, Patricia Ferguson MSP, said: "Rangers are one of the oldest football clubs in Scotland and it would be a sad day for Scottish football if after over 130 years the club was to be wound up.

"I very much hope that for the sake of the game, the jobs and economic impact this could have, the club resolve their difficulties."

Supporters and celebrities have also been using social networking sites such as Twitter and Facebook to comment on the news.

They included Lord Sugar, who tweeted: "News that Glasgow Rangers may go into administration. If they do they will have points deducted, could be a mess."

FFS, you couldn't make it up.

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From the BBC website:

Scottish Sports Minister Shona Robison described Rangers as "a crucial part of Scotland's national game".

She added: "I understand that Rangers and HMRC are continuing dialogue and we obviously want to see an agreement which will protect jobs and enable the club to stay in business.

"Our interest is ensuring that a resolution can be arrived at between HMRC and the club to deliver these vital objectives."

Scottish Labour's sports spokeswoman, Patricia Ferguson MSP, said: "Rangers are one of the oldest football clubs in Scotland and it would be a sad day for Scottish football if after over 130 years the club was to be wound up.

"I very much hope that for the sake of the game, the jobs and economic impact this could have, the club resolve their difficulties."

Supporters and celebrities have also been using social networking sites such as Twitter and Facebook to comment on the news.

They included Lord Sugar, who tweeted: "News that Glasgow Rangers may go into administration. If they do they will have points deducted, could be a mess."

FFS, you couldn't make it up.

Nope she lost my vote on the first line mad.gif

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From the BBC website:

Scottish Sports Minister Shona Robison described Rangers as "a crucial part of Scotland's national game".

She added: "I understand that Rangers and HMRC are continuing dialogue and we obviously want to see an agreement which will protect jobs and enable the club to stay in business.

"Our interest is ensuring that a resolution can be arrived at between HMRC and the club to deliver these vital objectives."

Scottish Labour's sports spokeswoman, Patricia Ferguson MSP, said: "Rangers are one of the oldest football clubs in Scotland and it would be a sad day for Scottish football if after over 130 years the club was to be wound up.

"I very much hope that for the sake of the game, the jobs and economic impact this could have, the club resolve their difficulties."

Supporters and celebrities have also been using social networking sites such as Twitter and Facebook to comment on the news.

They included Lord Sugar, who tweeted: "News that Glasgow Rangers may go into administration. If they do they will have points deducted, could be a mess."

FFS, you couldn't make it up.

So that I'm not accused of posting folks e-mail addresses on here (even though they're in the public domain anyway):

https://www.scottish.parliament.uk/msps/currentmsps/28450.aspx

https://www.scottish.parliament.uk/msps/currentmsps/27598.aspx

Knock yourselves out - I see Shona Robison is also on Twitter.

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Rangers as it is incorportaed now will cease to exist.

The SPL Sky contract will cease to exist, if there is no Rangers or simi;lar entity to fullfill the OF fixture

The SPL will need to decide either to remove the SPL share from the Administrator or let them sell it as part of the fund raising for the creditors.

CW is the largest secured creditor so he can mostly control the process as HMRC have not gotten their skates on to become the appointer

The SPL have to consider 3 (ish) things......Integrity of the league, Fullfillment of fixtures,payment to players

Rangers 2012 (either owned by CW, or A.N.Other) will need to convince either the Administrator or the SPL that they meet the above criteria and then they will get the share of the SPL ownership. The question is can CW demonstrate that he even has enough money to pay the players the £1.3m per month that the wage bill stands at to get to the end of the season....or is that what the Ticketus money is about?

If the Board of SPL are smart they will take this opportunity to dismantle the voting system of the 11-1 while they are at it and as a condition of awarding the share to RFC 2012

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From the BBC website:

Scottish Sports Minister Shona Robison described Rangers as "a crucial part of Scotland's national game".

She added: "I understand that Rangers and HMRC are continuing dialogue and we obviously want to see an agreement which will protect jobs and enable the club to stay in business.

"Our interest is ensuring that a resolution can be arrived at between HMRC and the club to deliver these vital objectives."

Scottish Labour's sports spokeswoman, Patricia Ferguson MSP, said: "Rangers are one of the oldest football clubs in Scotland and it would be a sad day for Scottish football if after over 130 years the club was to be wound up.

"I very much hope that for the sake of the game, the jobs and economic impact this could have, the club resolve their difficulties."

Supporters and celebrities have also been using social networking sites such as Twitter and Facebook to comment on the news.

They included Lord Sugar, who tweeted: "News that Glasgow Rangers may go into administration. If they do they will have points deducted, could be a mess."

FFS, you couldn't make it up.

I had no idea the diddy parliament had a sports minister. What does she do exactly? Apart from bigging up Rangers.

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So that I'm not accused of posting folks e-mail addresses on here (even though they're in the public domain anyway):

https://www.scottish.parliament.uk/msps/currentmsps/28450.aspx

https://www.scottish.parliament.uk/msps/currentmsps/27598.aspx

Knock yourselves out - I see Shona Robison is also on Twitter.

My brief email to Ms Robison:

Dear Ms Robison

I would be grateful if you might be in a position to qualify your recent comments as to why Rangers are “crucial to the Scottish game” (reported on the BBC website on 13th February 2012).

Are Rangers any more crucial than Dumbarton (my local team), St Mirren FC (the team I have supported since I was a teenager), or any other Scottish club I might care to mention? Would you have commented to this effect had one of these clubs been faced with, what is, after all, a self-inflicted scenario brought about by gross financial imprudence? Why should HMRC reach an ‘agreement’ with Rangers FC, and what form might this take? If Rangers FC are liable for a tax bill in excess of £50M with penalties that could add a further £20M+, shouldn’t they be liable to pay the full amount or suffer the consequences that any other business in similar circumstances would? This is public money after all. I sincerely hope you are not advocating or supporting any arrangement whereby the tax payers of this country are likely to be short-changed due to the financial impropriety of a football club. If you consider Rangers to be a special or exceptional case, I would appreciate an explanation as to why this might be a reasonable position.

Those responsible for bringing this situation into being should be held to account. Other football clubs have the integrity and presence of mind to live within their means, or, at the very least, seek to address their financial predicaments by altering the way in which they operate. I have absolutely no confidence that those within Rangers football club and the equally culpable others that went will before them will answer for their failure to operate on a viable basis. Should members of the Scottish government collude with a scenario whereby Rangers are not duly held to account, then I will have no confidence in this administration, nor will I gift my vote to your party in the future.

Kind regards....

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Hmm. Politicians should stay away from this one.

HMRC now have to decide if they'll play Whyte's game or take it around him to drive the process. Taking rangers down won't be pretty or a quiet process.

Whyte is almost the ideal person to play this endgame, he'll own Ibrox, Murray Park, the rangers brand and identity whatever happens.

Will the SPL, SFL and SFA have the bollocks to stand up in the situation and take a strong firm line and apply their own rules.

Administration and points deduction are one thing, but a folding of the entity that is currently rangers is another.

We have to see rules enforced. No exceptions made.

Last thing I'll say is that sportsound tonight had former rangers chairman Alistair Johnson putting his opinions on the whole deal and in Whyte. Johnson reckoned on David Murray having an ability to pull out a clause in the agreement of purchase of Rangers. He used a strange turn of phrase to describe Whyte getting Rangers. Also a deal of vitriol over Lloyds Banking Group not allowing Rangers debt to be rolled into part of Murray Group's wider debt that was seen as equity by the bank.

In all, I think it's popcorn time and this situation will be a rollercoaster.

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