Rangers investigated

[Calidad]

One or two discussions I have seen seem to touch upon thewhole idea of Rangers "failing" or going into administration. Not going tohappen. Too many vested interests thatare called Old Firm Inc are not going to let that happen. The 'tic fans are tooquick to be gleeful as well, with out their city rivals celtic are just anotherfitba team.

Say Aberdeen had 30 mil debt and the tax man was knocking at the door, it would all over very very quickly. Rangers will wriggle out of this, by hook or crook. I still think thedude who is looking to buy Rangers will buy them, only now he will get them at even better knock down price

[the_pie_man]

Now that this thread has degenerated into the usual 'banter' there is a rsik the real issue is missed here.

This has all come out partly because of HMRC investgation, but much more likely that lloyds are going through due diligence in preparing the club for sale (even at 1£). With skeletons like this kicking around, no one would touch the club with a bargepole. So it needs to be sorted, find out what the figures really are and what the liability is to the club and what arrangements can be made with HMRC.

Lloyds are due £30mill. The sale price was £30 mill so they could get their money. Murray? Zero, zilch, nothin. Sorry mate but it is out of your hands totally now. With this coming up with HMRC they take priority over Lloyds, so we got a problem here. Main issue is that lloyds can afford to cut their losses by closing it down. But you have this horrendous millstone of players' contracts having to be met regardless.

If no one would buy it at £30mill, who is going to buy it at £50mill especially if you are not sure what else lurks there?

Couldn't have come at a worse time for Rangers.

The one person who can help in all this is Martin Bain. Where is he? I wouldn't be surprised if he was 'helping the polis with their enquiries' soon. The buck has to stop somewhere.

If people are cooperative this sort of thing takes a lot of time (and fees to lawyers and accountants - who will look for payment in advance given the state of the business). If not it could run for many months. If people put their own preservation above saving Rangers the club will probably go into administration. If they cooperate, there is a chance. Let's see who does what....

[realmadrid]

Now that this thread has degenerated into the usual 'banter' there is a risk the real issue is missed here.

This has all come out partly because of HMRC investgation, but much more likely that lloyds are going through due diligence in preparing the club for sale (even at 1£). With skeletons like this kicking around, no one would touch the club with a bargepole. So it needs to be sorted, find out what the figures really are and what the liability is to the club and what arrangements can be made with HMRC.

Lloyds are due £30mill. The sale price was £30 mill so they could get their money. Murray? Zero, zilch, nothin. Sorry mate but it is out of your hands totally now. With this coming up with HMRC they take priority over Lloyds, so we got a problem here. Main issue is that lloyds can afford to cut their losses by closing it down. But you have this horrendous millstone of players' contracts having to be met regardless.

If no one would buy it at £30mill, who is going to buy it at £50mill especially if you are not sure what else lurks there?

Couldn't have come at a worse time for Rangers.

The one person who can help in all this is Martin Bain. Where is he? I wouldn't be surprised if he was 'helping the polis with their enquiries' soon. The buck has to stop somewhere.

If people are cooperative this sort of thing takes a lot of time (and fees to lawyers and accountants - who will look for payment in advance given the state of the business). If not it could run for many months. If people put their own preservation above saving Rangers the club will probably go into administration. If they cooperate, there is a chance. Let's see who does what....

A good post in all the usual stuff that comes if anyone has anything bad to say about the old firm

I agree with you up to the last paragraph as I cannot see Rangers ever going into administration. They will find a way around this even if it means a few more hard years for them. The Debt is manageable with the Champions league money and season ticket sales even if they have to run with the same squad again

I would imagine Bain will be helping out who ever he needs to help out to get this resolved. I am sure its avoidance and not evasion but the HMRC are taking on a few cases. I would imagine they will go for one of the teams down south on this soon on this so it will have to be factored at least into any sale

[STUL]

...probably been mentioned before, (can't be bothered going through the whole thread) BUT, if Rangers do go into admin, do the points come off now (with all the obvious implications)or next season.

The cynic in me says that this will (if it happens at all) occur next season so that the creditors can have access to the champions league money.

[The Old Northerner]

...probably been mentioned before, (can't be bothered going through the whole thread) BUT, if Rangers do go into admin, do the points come off now (with all the obvious implications)or next season.

The cynic in me says that this will (if it happens at all) occur next season so that the creditors can have access to the champions league money.

The season does have a fixed end date. If a court order is dated before that date then it will have happened this season - otherwise next season.

[the 67]

Having read this thread I can only say one thing.......

thank god W.A.T.P and XI THEONE don't follow my team

I'll wager Dumbarton fans on P&B are ecstatic this clown now claims to be a life long Rangers fan

[flogelsleftpeg]

Now that this thread has degenerated into the usual 'banter' there is a rsik the real issue is missed here.

This has all come out partly because of HMRC investgation, but much more likely that lloyds are going through due diligence in preparing the club for sale (even at 1£). With skeletons like this kicking around, no one would touch the club with a bargepole. So it needs to be sorted, find out what the figures really are and what the liability is to the club and what arrangements can be made with HMRC.

Lloyds are due £30mill. The sale price was £30 mill so they could get their money. Murray? Zero, zilch, nothin. Sorry mate but it is out of your hands totally now. With this coming up with HMRC they take priority over Lloyds, so we got a problem here. Main issue is that lloyds can afford to cut their losses by closing it down. But you have this horrendous millstone of players' contracts having to be met regardless.

If no one would buy it at £30mill, who is going to buy it at £50mill especially if you are not sure what else lurks there?

Couldn't have come at a worse time for Rangers.

The one person who can help in all this is Martin Bain. Where is he? I wouldn't be surprised if he was 'helping the polis with their enquiries' soon. The buck has to stop somewhere.

If people are cooperative this sort of thing takes a lot of time (and fees to lawyers and accountants - who will look for payment in advance given the state of the business). If not it could run for many months. If people put their own preservation above saving Rangers the club will probably go into administration. If they cooperate, there is a chance. Let's see who does what....

Good post mate, but I think the HMRC have had their priority creditor status removed and this is part of the reason they have begun pushing harder about football club debts.

[Duvz]

By "in the huff", do you mean "laughing 'til our sides hurt at your predicament?"

If so, you're so right!

Imagine being the CHAMPIONS in our predicament,luverly

[killiepiemuncher]

Wot predicament a £30M team with £20k a week players in a two team league.

Oh yeah it's tough.

[fof]

...probably been mentioned before, (can't be bothered going through the whole thread) BUT, if Rangers do go into admin, do the points come off now (with all the obvious implications)or next season.

The cynic in me says that this will (if it happens at all) occur next season so that the creditors can have access to the champions league money.

if rangers go into admin they are not allowed in the champs league. they still might not be allowed in as it all depends on this court case.

[seamus]

Why did they leave it till now?

[Bairn 4 Life]

Oh dear...

http://news.bbc.co.u...ers/8647085.stm

rumour has it celtic are next

[offshorebairn]

I think the HMRC have had their priority creditor status removed and this is part of the reason they have begun pushing harder about football club debts.

Knowing people who have worked in that particular sector, historically if HMRC don't look like they are going to get their pound of flesh, they make sure nobody else does.

Apart from the Administrators, who drag it out for as long as possible and get paid up front.

[Thistle_do_nicely]

Bump.

You concentrate on your fizzy pop league failings.

Haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaahahahahahahahahahahahahahahahahahahahahahahahahah

[Thistle_do_nicely]

Rangers will be about long after Firhill has been bulldozed for immigrant housing.

Haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaahahahahahahahahaha

[The Grass Is Greener.]

Some bump

[Thistle_do_nicely]

Last one:

Partick Thistle are going to rot in the SFL 1 until they turn part time and then go bust. Enjoy. The fizzy pop league is that way --------->

That's a matter for another thread, and even then the debt at Firhill is at least manageable, unlike the monstrous debts accrued by Rangers (which looks like it may even include a huge list of unpaid tax bills, if the OP's story turns out to be true); this thread is about the fact that Rangers are, by and large, completely and utterly fucked financially.

Keep deflecting if it takes your mind off the woes at Rangers, though, I'll just sit back and enjoy the fireworks.

Haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaahahahahaha

Oh, I did indeed enjoy the fireworks.

[Hammer Jag]

How's the 'fizzy pop league' champ?

[The Great Stagsby]

How's the 'fizzy pop league' champ?

"Champ"?

Ouch!

[YER SISTERS YER MAW]

The days of Rangers trolls like LOL @ celtic & The *** Ghost stinking out the Premiership forum with their rancid pish are as dead as their team. Thank you Sir Craig White!