Rangers into Administration

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Shocking that the administration action was nothing to do with the 'tax case',but ??9m in unpaid PAYE since Whyte took over. It's now blatantly obvious he always wanted to take the current club into administration,then escape with his secured assets and restart the club with a clean slate, leaving the taxman (and our public services) diddled by as much as ??85m. Shocking that this is a potential scenario for cheats & conmen.

What a mess.... Lots of small clubs go to the wall and the Press report it like it is something new.  The first of many larger potentially.  Writing has been on the wall for years

Stephen D (14.8) wrote (see)

Shocking that the administration action was nothing to do with the 'tax case',but ??9m in unpaid PAYE since Whyte took over. It's now blatantly obvious he always wanted to take the current club into administration,then escape with his secured assets and restart the club with a clean slate, leaving the taxman (and our public services) diddled by as much as ??85m. Shocking that this is a potential scenario for cheats & conmen.

If Whyte is doing that he is playing a dangerous game .. he will be liable as will the accountant who advised him ... don't worry he is in the headlights now only matter of time before he finds himself bouncing over the bonnet of the HMRC tax collection truck.. Unless of course he has a dog with an off shore bank account, I also presume he can read and write which will work against him

Chris Tandy wrote (see)

Stephen D (14.8) wrote (see)

Shocking that the administration action was nothing to do with the 'tax case',but ??9m in unpaid PAYE since Whyte took over. It's now blatantly obvious he always wanted to take the current club into administration,then escape with his secured assets and restart the club with a clean slate, leaving the taxman (and our public services) diddled by as much as ??85m. Shocking that this is a potential scenario for cheats & conmen.

If Whyte is doing that he is playing a dangerous game .. he will be liable as will the accountant who advised him ... don't worry he is in the headlights now only matter of time before he finds himself bouncing over the bonnet of the HMRC tax collection truck.. Unless of course he has a dog with an off shore bank account, I also presume he can read and write which will work against him

Indeed, he is not in any way going to be able to avoid the taxman on this, it looks almost certain that liquidation will be the end result. Sadly there's no doubt there will be a Huns2012FC emerge from the ashes, but it will be a new club, it just remains to be seen whether Scottish football authorities have the balls to make them start from the bottom, the fear among fans is that they will not, and will only see the short term gain from letting them back in at the top.

Are Scottish clubs going to affected by the regulation coming into the premier league? I personally would make them start from the bottom .. They should sell all there top players on and develop their youth side through the leagues, would be an interesting business model. But then some of the places they play away to would be quite unpleasent!! The smell of deep heat and piss ...

Paddyjk wrote (see)

fatshaft wrote (see)
Ken Mavor (12.5) wrote (see)

Someone at Hearts must have been cacking themselves over the last few days at what has gone on at Rangers with HMRC.  It is being reported that they have just paid up the sum that was due the HMRC.

and allegedly this is the thin end of the wedge, HMRC win this, and the big boys in england are next.

After them how? The big clubs are pretty well financed.

Couple of points here, the first being that it has nothing to do with how they are financed, it's about tax; the word is that there are a number of English clubs who have also abused the EBT scheme, which is where Rangers initial tax problems have arisen, and Rangers are being used as a test case, becasue not being in England, the fuss made will be much less (see yesterday's SSN 'top story' which was Tevez coming back to England, not the 3rd biggest club in the UK going into admin), and once a precedent is set then they can go after the rest. I would imagine Chelsea in particular would be worried, with the huge sums they started paying overseas players, many or most will have been on EBTs I imagine. Secondly, (but totally unrelated to this story) many of the EPL clubs are in a horrendous situation, Man U £600 of debt, Bolton £112m of debt, Wigan close to £50m of debt. Football worldwide (Germany excepted), but especially inEngland is in a shocking state, TV contracts keep getting bigger, but players salaries continue to outstrip the rise in revenue, it is a wholly unsustainable model and has to at some point explode. Only the likes of Arsenal, and I believe Spurs(?) are playing the long game and attempting to balance their books. If they can hold on in there, they are going to be massive players in the game in 15 years time.

Chris Tandy wrote (see)

Are Scottish clubs going to affected by the regulation coming into the premier league? I personally would make them start from the bottom .. They should sell all there top players on and develop their youth side through the leagues, would be an interesting business model. But then some of the places they play away to would be quite unpleasent!! The smell of deep heat and piss ...

You mean UEFA's financial fair play? Then yes of course, if Rangers were somehow to survive this, and it looks very unlikley, they are almost certainly out of Europe for 2013 becasue they cannot be in administration when their UEFA license for that season is issued, they also need to have fully audited accounts by 31/3/12, and that too is highly unlikley. For those of us who have had to suffer the unending inequities of the Scottish game, and what now turns out to have been overt rather than the standard covert cheating, it is all highly amusing.

fatshaft wrote (see)

Paddyjk wrote (see)
fatshaft wrote (see)
Ken Mavor (12.5) wrote (see)

Someone at Hearts must have been cacking themselves over the last few days at what has gone on at Rangers with HMRC.  It is being reported that they have just paid up the sum that was due the HMRC.

and allegedly this is the thin end of the wedge, HMRC win this, and the big boys in england are next.

After them how? The big clubs are pretty well financed.

Couple of points here, the first being that it has nothing to do with how they are financed, it's about tax; the word is that there are a number of English clubs who have also abused the EBT scheme, which is where Rangers initial tax problems have arisen, and Rangers are being used as a test case, becasue not being in England, the fuss made will be much less (see yesterday's SSN 'top story' which was Tevez coming back to England, not the 3rd biggest club in the UK going into admin), and once a precedent is set then they can go after the rest. I would imagine Chelsea in particular would be worried, with the huge sums they started paying overseas players, many or most will have been on EBTs I imagine. Secondly, (but totally unrelated to this story) many of the EPL clubs are in a horrendous situation, Man U £600 of debt, Bolton £112m of debt, Wigan close to £50m of debt. Football worldwide (Germany excepted), but especially inEngland is in a shocking state, TV contracts keep getting bigger, but players salaries continue to outstrip the rise in revenue, it is a wholly unsustainable model and has to at some point explode. Only the likes of Arsenal, and I believe Spurs(?) are playing the long game and attempting to balance their books. If they can hold on in there, they are going to be massive players in the game in 15 years time.

I hope all those who are on the fiddle to to the wall. My club claim they do thing correctly and will never be in trouble. We could zoooooooom up the leagues.

bigeasy94 wrote (see)

Suarez did reject the handshake, but Im not sure Evra was that keen on shaking anyway when you see where he had his hand.

Paddyjk wrote (see)

I didnt think ManUs debt was quite so high these day? Spurs are a very well run club also owned by one of the richest men in the UK helps...

You mean Joe Lewis? Owner of, amongst other things, Spurs and....... . ..... Glasgow Rangers! (although I think he's sold most of it now)

Just suggesting that the fiscal policy for one club may be the fiscal policy for the other; it's normal when one man owns several entities. Group accounting policy and all that.

So he run  down Ranger , because lets be honest Scottish football is a farce.. to save a premier league side .. oh well

Chris Tandy wrote (see)

So he run  down Ranger , because lets be honest Scottish football is a farce.. to save a premier league side .. oh well

At the time the Premier League was being discussed both Rangers and Celtic were invited to talk (spreading the risk I imagine) but David Murray said he didn't need it. I suspect he was worried about losing his guaranteed European place. He then set out to prove that by buying Spurs' captain, England's captain, England's goalkeeper, England's daft brush and a Laudrup etc. The fool. They bought nine league titles on the trot by spending more money than they were making. I'd use that as a warning against complacency.

Was david murray the guy the BBC interviewed and basically said that the current owner had been careless... when he had been operating in the red himself or on credit?

Chris Tandy wrote (see)

Was david murray the guy the BBC interviewed and basically said that the current owner had been careless... when he had been operating in the red himself or on credit?

That'll be him.

hypocritical winker

fatshaft wrote (see)

 Only the likes of Arsenal, and I believe Spurs(?) are playing the long game and attempting to balance their books. If they can hold on in there, they are going to be massive players in the game in 15 years time.

I too used to believe that, but I reckon those in power wouldn't let it get that way - "you can't have a Premier League without Man U, Liverpool, blah blah blah..." What I'm saying in not so many words is that, in the crazy world of PL football, fiscal probity probably won't be allowed to be as much as a benefit as reputation and "history".

I thought Man U floated a 2nd time to sort their issues out and sold Ronaldo to make a massive profit ... Madrid, are piss takers as well!!

Bridgey (12.6 and getting worse) wrote (see)

fatshaft wrote (see)
 Only the likes of Arsenal, and I believe Spurs(?) are playing the long game and attempting to balance their books. If they can hold on in there, they are going to be massive players in the game in 15 years time.

I too used to believe that, but I reckon those in power wouldn't let it get that way - "you can't have a Premier League without Man U, Liverpool, blah blah blah..." What I'm saying in not so many words is that, in the crazy world of PL football, fiscal probity probably won't be allowed to be as much as a benefit as reputation and "history".

You mean like Rangers.....oh hang on    If you think Man Utd & Liverpool have a bigger hold over the EPL & English FA, than the Old Firm have over the SPL and SFA, I'm afraid you are way way out of touch. And still there is not a thing that either body can do to help the Huns out agaiunst HMRC, England is next if they can punish Rangers.

The only outcome i can see here goes like this - rangers wound up players sold up to pay bill as best as possible.  Restart as an amatuer club, stadium sold to arab trillionaire who thinks they play in the british premiership.  Ibrox united win everything in Scotland until oil runs out. 

Apparently there is nothing in the constitution of the SPL regarding liquidation or new clubs from old. Only rules regarding administration. Could get messy.

It couln't have happened to a nicer club

Claverhouse wrote (see)

Apparently there is nothing in the constitution of the SPL regarding liquidation or new clubs from old. Only rules regarding administration. Could get messy.

Very messy. The Weegia (with the notable exception of Spiers) running their oh so predictable "The SPL can't survive without 'A' Rangers"  & "The other clubs need Rangers" campaigns already, whereas evey fan in the country wants them irreviocably voted against in any possible phoenix club situation. There is already widespread talk of fans never going back if Rangers get re-elected to the SPL as Cowdenbeath Huns or some such.

Just gets better.... [For those not following, Whyte sold 4 seasons future season ticket revenue to a company called Ticketus who do that sort of thing] Adminstrators today come out and admit they can find no eviodence whatsoever in Rangers books that the funds have ever been receive dby Rangers FC. m So that's more money that Whyte has somehow managed to syphon off into his own pocket. Just gets better and better

fatshaft wrote (see)

Just gets better.... [For those not following, Whyte sold 4 seasons future season ticket revenue to a company called Ticketus who do that sort of thing] Adminstrators today come out and admit they can find no eviodence whatsoever in Rangers books that the funds have ever been receive dby Rangers FC. m So that's more money that Whyte has somehow managed to syphon off into his own pocket. Just gets better and better

I don't know whether this is such a good thing. By the sounds of things, and this is just the rumour mill, Ticketus have done a deal with another Whyte company for the £24m for Rangers season tickets, but have no security over this (crazy if true). So Whyte has got £24m, could wind up that company, independant of Rangers, then the club could continue to collect all the revenue itself going forward. As I say, all just rumours, but until a set of accounts are published we're all just guessing and I'm not getting too excited about any news. Well, obviously I got excited at the 10pt deduction to hand us the league

^^No ideeed Stephen, don't think it's a good thing, because it may be that that moeny is untouchable. By 'better' I really meant just more incredible

Just heard on the radio that Milan Mandaric "has no interest in becoming involved with Rangers." They are truly f*ckd!

Hang on if whyte took £24 million ... where did it go and did he pay tax on it ?

Chris Tandy wrote (see)

Hang on if whyte took £24 million ... where did it go and did he pay tax on it ?

Now in the hands of Strathclyde Police. So we'll never know the answer!

Are you saying they are so bad that they don't know where their police station is?

I'm saying that Strathclyde Police are all fully paid up supporters of RFC and its ethos.

ah ... we aren't getting all religiously divided here are we? I don't subscribe to either stupidity .. I am educated *that will offend one and all... but at least it isn't taking sides and quite fair*

You've never been to Ibrox then? The only bigotry you'll get from me is total opposition to all things OF.

No I haven't been to Ibrox and generally where there is religious bigotry I don't have time for...this is 2012, get feckin life, it's all made up, and except it when your dead the worms will eat you and you will do more positive than you did when you were alive to this good planet. OF?

OF - the Old Firm, Scotland's shame, the bigot brothers etc.

ah .. yep the on pitch fight ... at least both sides of Manchester don't hide behind religion , they just don't like each other ... Everton Liverpool rivalry is based on religious standings .. ?

Ah religious arguments, like two kids squabbling over who has the best imaginary friend.

Deceptively Short wrote (see)

Ah religious arguments, like two kids squabbling over who has the best imaginary friend.

definately ... have you seen harvey, he has disappeared

I struggle with countries affiliating themselves with a religion (Cameron, I'm looking at you!) but football clubs?! That's just daft.

Are you enjoying Cameron vs Salmon show... those 2 should get a room

There can only be one winner there. Whatever battleground is chosen.

Definitely .. Salmon has picked his timing and whilst Cameron is prime minister no Scottish person will want to tolerate his laws .. if didn't rain so much up there I would move to Scotland, just so I wasn't governed by a pillow biter

I worked in Glasgow for a year.  Lovely city, smashing people etc. Until....football starts.  Then they (ok the vast majority) turn into nutcases.  (for a few days) I am sure Cameron actually wants Scottish Independence.....that gets rid of 50 Labour MPs at a stroke!!  

Ian wrote (see)

I am sure Cameron actually wants Scottish Independence.....that gets rid of 50 Labour MPs at a stroke!!  

Plus £1.2 trillion in oil revenue.

Chris Tandy wrote (see)

Everton Liverpool rivalry is based on religious standings .. ?

^^^^depends on who you ask - I've seen no conclusive proof either way.

Chris Tandy wrote (see)

No I haven't been to Ibrox and generally where there is religious bigotry I don't have time for...this is 2012, get feckin life,

Absolutely....

Chris Tandy wrote (see)

 if didn't rain so much up there I would move to Scotland, just so I wasn't governed by a pillow biter

...but the poofs on the other hand....

Claverhouse wrote (see)

Plus £1.2 trillion in oil revenue.

Look you've been told already, you're not getting it. For a start we couldn't trust you people with that sort of money, you'll piss it all up the nearest wall.

 

Claverhouse wrote (see)

Plus £1.2 trillion in oil revenue

.....but London does get its park benches back!

Quite incredibly, the SPL have decided to play by the rules, and have blocked the signing of Daniel Cousin.. http://www1.skysports.com/football/news/11788/7528565/SPL-blocks-Cousin-move ..though of course Sally McCoist thinks "At this moment in time he is in the squad for tomorrow and still has an opportunity of getting the signing through. I'm still very hopeful we can get through the bits of red tape." Sally, Sally, Sally, the world has changed, no longer can Rangers say what is going to happen

+1 unemployed in Scotland then ... that bloody Cameron! 

Love watching them squirm but the Strathclyde Football Association just don't have the stones to throw the book at them. As much as I'd love to see them playing at Borough Briggs in August I just can't see it. That said, there has been some cracking threads on footymad about the whole car crash

Paddyjk wrote (see)

Claverhouse wrote (see)
Ian wrote (see)

I am sure Cameron actually wants Scottish Independence.....that gets rid of 50 Labour MPs at a stroke!!  

Plus £1.2 trillion in oil revenue.

You could get a lot of haggis and iron bru with that!

You could buy a decent scriptwriter.

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