tux78

Very simple the SPL chairmen did their bit, now the SFL to do the same and zombie rangers are finally out of the way. Also Doncaster must go now!!!

Followed a link from the previous page and saw this advert which I found very ironic, also I enjoy the fact that there is only so long you can put your head in the sand and eventually all those rangers fans will realise they are about to be supporting the diddiest team in scotland who have won nothing possibly with nae players

Traynor says he doesn't understand the anger online at Rangers, if he actually tried speaking to anyone who wasnt a Rangers fan he might find out. If any other spl team was in Rangers position they would be in division 3 already and would have been completely liquidated its the fact folk like traynor keep looking for excuses to allow blatent cheating which gets me so annoyed also its our money which was being used to pay for Rangers players earning thousands of pounds a week and frankly we want it back.

Its a bizzare setup tbh. The acceptance of the £5.5 million as a bid for the assets means pretty much that dont think rangers have much asset value which is some change from the £134 million in the last years accounts. The scenario as I see it is you put something to auction then some guy says he will give you £5.50 for it and then you take it thinking its a good deal but the smart way is to use that offer as starting bid and try to get more money for the item. Why would you turn down more money?

Just read the bbc website about the players being for sale at set prices and I am really struggling to understand what is going on there. If Rangers sell any players the money goes to green instead of the creditors under the cva? Seriously are Duff and duffer mental how can a sale of assets in a club which is insolvent not be used to pay creditors. It makes sense in a normal sale as the value of the club is decreasing by the amount and turning to cash but in this case the company valuation is so low that the money made may well reach a value near the bid amount - of course running cost will be removed from the funds but personally i dont like the thought of money being available to rangers if it isnt available to the creditors. Hopefully tho rangers will have been kicked out before the cva is even decided upon.

What I dont understand about this entire CVA proposal from Rangers is that it is clearly far to low to be accepted by the creditors. Doing the math for it they have a pot of £8.5 million with expected transfers of £3.5 million giving £12 million then they hope for £25 million from the lawyers tax case. That would give £37 million which is probably a resonable % however the case is not being heard till the end of the year and surely as it isnt even a guarenteed source of money cant realistically be included. So your left with £12 million of which Duff and Duffer have £6 million and £1 million is due to other secured creditors. So your left over CVA pot is £5 million which is about 9p in the £. I cannot believe that HMRC will take this amount of money particularly if the rumor is true that they will need £4 million in paye from the administrators. So if the CVA fails then Green will try to buy the assets for £5.5 million however this bid can be matched or raised by anyone with the funds which means that there is a distinct possiblility that HMRC may feel the valuation of the land and assets is such that they can get more money back by rejecting a CVA and using the bidding process for assets to get back more funds. I cannot believe that rangers can escape their fate as it would make a mockery of the spl and leave the way open for clubs to spend away with no concequences.