Hi there, Guest! Login Register


Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Rangers to enter administration
#1
Breaking news in the last hour Rangers show intent to enter administrationBig Grin
A true JFK moment!!!
This is what happens when you spend beyond your means.
Never nice to see a football team on the brink..............but i'll make an exception in this caseTongue
 
Reply
#2
[Image: tumblr_lvrwrkvuHc1r11ujq.gif]

Rejoice!
 
Reply
#3
Where's Highlander?
 
Reply
#4
(02-13-2012, 07:42 PM)Mambo82 Wrote: Where's Highlander?

A sad day for scottish football. Im seeing the bigger picture.
Highlander29
 
Reply
#5
Sounds like a total mess. Wonder what would happen if they went bust. Would Rangers fans try and start a new club (Like Gretna 2008) or would they latch on to someone else?
Rangers are a huge club, surely the biggest Club ever to enter administration?
SHIRT NUMBER 34.

(formerly named Geordieland Staggie).

Registered member since March 2003.
 
Reply
#6
No-one is really sure what's going to happen, i'm not sure of all the ins and outs so don't quote me, it's possible that(with his track record) Whyte has been a front to take Rangers into admin and that some-one else will come in behind to pick up the pieces without all the debt and start afresh a la Dundee. however he could also take the club into liquidation and sell off all the assets including Ibrox and Murray park and make himself a tidy profit seeing as he is sole creditor.
If Rangers fc were to cease to be then no doubt a new team would rise from the ashes and seek admittance to the Scottish football league where no doubt the 'old fans' with all their baggage would climb aboard giving it no one loves us we don't care.
And it's also worth remembering that although Rangers are a huge club Woolies were a huge business before they went to the wall!
And it's also worth noting that if this British club that likes to Help our Hereos had paid it's taxes in a right and proper manner they wouldn't find themselves in this mess.
The latest news is that HMRC have applied for rangers to go into administration which could potentially spell the end of rangers fc.
 
Reply
#7
I think they will stay alive but if we go up this season we can beat them easily :p
[Image: Welcometothehighlands-1.jpg]
 
Reply
#8
Hope this is the kick Scottish football needs to sort itselfs out properly now from the very bottom to the very top, sadly I doubt it will be.
"it's hard to be humble when you're as great as I am"
Muhammed Ali
 
Reply
#9
Ultimately this is a warning shot for the game to change in Scotland. It needs to have imagination and be brave.

I would argue Leeds Utd are a bigger club than Rangers. They have done more in Europe and have also played and won honours in a much bigger, tougher league.

Rangers will survive, if Airdrie can they can. I would expect to see a Rangers Utd or something down the line. They are in serious trouble, close to £100M. The main man there is going through a divorce and has had to sell off to pay for that.
Highlander29
 
Reply
#10
Rangers seem to be thinking that they can exit administration via a CVA before the end of March. A CVA requires all football creditors to be paid in full, and 75% of the club's creditors to agree to this. HMRC have a policy of never voting for a CVA (and have never done so with other clubs), so will vote against. That means that for a CVA to apply, there must be a total of over £300 million worth of creditors and they all apart from HMRC vote in favour. Doubt very much if that is the case.

So IMHO an exit from administration via a CVA is out. The only club to try to exit from administration without doing a CVA is Leeds United, and the football league did not like that one bit, hence their imposition of a 15 point penalty for the next season (in addition to the 10 point penalty for going into administration), and HMRC took the case to court to block the exit, ultimately dropping it.

So it looks like it is liquidation for Rangers, no doubt with a pre-pack buy-out already arranged. That is no doubt why HMRC were so keen not to have Rangers already appointed advisers as administrators. That then puts the ball in the court of the SPL as to whether to readmit Rangers and on what basis. it also means that Rangers have no hope of European football for the next three years.
 
Reply
#11
(02-15-2012, 08:48 AM)Son of Earl. Wrote: Rangers will survive, if Airdrie can they can.

Airdrieonians didn't survive. They were liquidated. Airdrie Utd is just Clydebank with a different name.

Any suggestions that Rangers current woes are bad for the Scottish game are off the mark. The only club that will miss them is Celtic, as those two clubs thrive off each other with their mutual bigotry.

Rangers fans who have deluded themselves into thinking that Scottish football can't cope without them need to think again. Life will go on, there will still be 42 senior clubs willing to play each other every week, that situation won't end with Rangers.

Good riddance to a horrible club. Cool
 
Reply
#12
(02-15-2012, 01:22 PM)sirjames Wrote:
(02-15-2012, 08:48 AM)Son of Earl. Wrote: Rangers will survive, if Airdrie can they can.

Airdrieonians didn't survive. They were liquidated. Airdrie Utd is just Clydebank with a different name.

Rangers will change name. Same horrible bunch with a different banner.
Highlander29
 
Reply
#13
I can't believe all the politicians and journalists coming to Rangers aid, they seem to be forgetting the whole reason for this mess- Rangers not paying their taxes possibly £49million with that maybe rising to £75million with fines and now another £9million which hasn't been paid this year. This is money that hasn't been paid to the public purse that helps to pay for nurses, schools, emergencey services etc.
If David Murray and Craig Whyte get away with this i hope the same politicians and journalists can tell me why i should still pay my taxes!!
 
Reply
#14
Thinking ahead to when Rangers are put into liquidation, and the request for the registration of liquidation Rangers to new Rangers comes before the SFA (or is it the SPL?). Now normally any other club would be told that they are starting in the 3rd Division, but can anyone seriously see the top flight clubs voting to not have Rangers in the SPL? I bet you there is a clause in whatever TV deal Scottish football has that Rangers and Celtic have to both be playing in the top flight, otherwise the TV deal is off. To say nothing of the Rangers hordes invading your town twice a year with all that lovely cash. So new Rangers into the SPL is a shoo in.

But.....

If a club disappeared at the end of a season from a division (e.g. Livingston), then the highest unpromoted club from the next division down would be promoted. Which puts Falkirk or Dundee (or Ross County if things go t*ts up) in the position of being thoroughly aggrieved that they are not going up a division. So they are going to need to be bought off with a large dollop of cash. Or, the introduction of SPL2.

Finally, would new Rangers get a full member's vote, or would they be restricted to being an associate member for 5 years, like we were when we first came into the league? If the latter, then that makes the voting dynamics interesting when it comes to TV money divvying up, league reconstruction etc.

Rangers going into administration does not affect Ross County, but some of the knock on consequences will.

 
Reply
#15
(02-16-2012, 02:05 PM)dawyckstag Wrote: I can't believe all the politicians and journalists coming to Rangers aid, they seem to be forgetting the whole reason for this mess- Rangers not paying their taxes possibly £49million with that maybe rising to £75million with fines and now another £9million which hasn't been paid this year. This is money that hasn't been paid to the public purse that helps to pay for nurses, schools, emergencey services etc.
If David Murray and Craig Whyte get away with this i hope the same politicians and journalists can tell me why i should still pay my taxes!!

With possibly 500,000 plus sheep- sorry voters -supposedly supporting each side of the terrible twosome, it is only natural the polititians will muscle in.They will promise to do all they can to help in return for votes , but in the end will give nothing as usual.
 
Reply
#16
(02-16-2012, 03:02 PM)Five Minutes from the Ground Wrote: Thinking ahead to when Rangers are put into liquidation, and the request for the registration of liquidation Rangers to new Rangers comes before the SFA (or is it the SPL?). Now normally any other club would be told that they are starting in the 3rd Division, but can anyone seriously see the top flight clubs voting to not have Rangers in the SPL? I bet you there is a clause in whatever TV deal Scottish football has that Rangers and Celtic have to both be playing in the top flight, otherwise the TV deal is off. To say nothing of the Rangers hordes invading your town twice a year with all that lovely cash. So new Rangers into the SPL is a shoo in.

Well for a start its still a bit early to be talking about liquidation.

However, should rangers go under and re-emerge under a new name with a similar structure and status, then i dont think other SPL clubs will voted against Rangers being in the SPL. As you query, the Sky deal is agreed on the condition of the Old Firm being in the SPL. No club can afford not having the 8 games against the Old Firm and not having the money from TV deal.

If the TV deal collapsed, it would of course have an effect on all SFL clubs as well, due to the fact that they get money each season from it. Im not sure how much it is, but i would think alot of clubs, mainly in the lower leagues, would be pretty reliant on it.
 
Reply
#17
It would seem, after todays administration meeting, that not only has Whyte shafted the taxman but also Ticketus. It appears that the £24 million he secured against future season ticket sales didn't go to Rangers but a parent company.
When the administration company gets round to publishing the accounts there is going to be a lot of red faces about. It would seem that Whyte had a free rein with no-one questioning what he was doing, it could turn out to be quite scary to see what he gets away with.
 
Reply
  


Forum Jump:


Browsing: 1 Guest(s)