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Big Rangers Administration/Liquidation Thread - All chat here!


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I don't know if this has been cleared up earlier in the thread or not, so forgive me - but I've read a few posts today about football creditors being paid in full, that they get priority. Is a football creditor basically, a football club or a player? I've been reading that Burnley are due money on the Lafferty transfer if he plays 100 games (he's on 98 apparently), and the well documented cases of Dundee Utd and Dunfermline being due money for recently televised games. So should they be alright?

I was also wondering - surely to f**k £9m wouldn't be their actually standard tax bill for 9 months?

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Someone can always do what Arsenal did with Highbury, parts of that stadium were listed and as long as the facade remained they were allowed to build flats. Where's Stewart Milne when you need him?

they kept the stands intact along with the roof and incorporated it into the design where their was terracing is now luxury flats and the pitch is now a communal garden

http://highburysquare.com/index.html

the same could happen to ibrox with any luck :D

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I don't know if this has been cleared up earlier in the thread or not, so forgive me - but I've read a few posts today about football creditors being paid in full, that they get priority. Is a football creditor basically, a football club or a player? I've been reading that Burnley are due money on the Lafferty transfer if he plays 100 games (he's on 98 apparently), and the well documented cases of Dundee Utd and Dunfermline being due money for recently televised games. So should they be alright?

I was also wondering - surely to f**k £9m wouldn't be their actually standard tax bill for 9 months?

hearts are owed a large sum for the lad wallace

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There's some tremendous comments on the BBC 'Have Your Say' section.

This one, in particular, made me giggle

falkirkfc2

33 Minutes ago I AM ON BIG FAN OF FALKRIK FC THE BAIRNS ALL THE LOCALS OF LIKE RANGERS IN FALKIRK AND GRANGEMOUTH WILL MOVE TO THERY LOCAL TIME. IF RANGERS FC GO UNDER NO MORE TIME FALKIRK FC CAN ME MORE BETTER FAN RANGERS NOT ANY ANY LEGS THEN FALKIRK FC CAN WIN SPL VERY SOON COME ON FALKIRK FC WE HOPE RANGER FC NO MORE RANGERS ANY MORE FALKRIK FC IS DOWN SO WILL NOW AND WE NOT IN ANY DIET NOW LIKE RANGERS FC X

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Thats England not Scotland.

Correct these rules only apply for members of the english league. Legally these rules seem to be watertight enough, morally they are absolutely disgusting.

hearts are owed a large sum for the lad wallace

Dundee Utd are owed money (from cup game), as are Inverness (no idea what for), as I suspect may be Aberdeen (for Aluko)

Unfortunately all these clubs are going to be VERY far down an incredibly long list when it comes to getting their money. Unless somehow the SPL can use Rangers next due league revenue payment to pay off these debts.

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they kept the stands intact along with the roof and incorporated it into the design where their was terracing is now luxury flats and the pitch is now a communal garden

http://highburysquare.com/index.html

the same could happen to ibrox with any luck :D

I can just about see it. Where's a conceptual artist when you need one? laugh.gif

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So as RFC are now in admin for an indefinite period of time it means Hearts DUFC and Barnsley can whistle for their money with the thought that they may get 7 or 8% of it somewhere down the line. The SPL surely cannot allow a team to not pay their transfer fees, ticket share etc. That way will surely lead to a complete breakdown of the league if teams are not playing by the financial rules. I take it the admin will look on these debts as standard rather than priority?

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I don't know if this has been cleared up earlier in the thread or not, so forgive me - but I've read a few posts today about football creditors being paid in full, that they get priority. Is a football creditor basically, a football club or a player? I've been reading that Burnley are due money on the Lafferty transfer if he plays 100 games (he's on 98 apparently), and the well documented cases of Dundee Utd and Dunfermline being due money for recently televised games. So should they be alright?

I was also wondering - surely to f**k £9m wouldn't be their actually standard tax bill for 9 months?

No, there is no guarantee any will be paid. Basically, the administrator should be brought in to look out after the interests of the creditors. They are all unsecured creditors, secured creditors get priority. That is basically Whyte. The HMRC wanted to appoint an independent administrator, but instead got a couple of Whyte's dodgy mates. So, it is likely they will be acting in the interests of Whyte rather than HMRC or any other Scottish club, who will be completely ignored.

What Whyte is doing is a bloody disgrace and the Scottish clubs should refuse to play at Ibrox.

I have a feeling we will all hate Rangers a lot more after this. This is when you see how fucking dirty the fuckers really are, and how the SPL bend over.

Edited by HaikuHibee
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If Rangers go into admin now, does the £9m debt to HMRC amount to more than 25% of the total owed to all creditors? Whyte will claim £18m and Ticketus will claim £24m. Even without adding in any football related debt, these 3 sums add up to £51m so the HMRC element is around 20%. If Whyte and Ticketus are secured creditors, they'd get their cash back in full and only HMRC and every other creditor would be gubbed with some 5p in the £ solution. Not sure what then happens to the big tax bill if that comes to pass but by then they might have re-established Rangers as a new entity. The bill for HMRC is against a defunct institution but Ticketus may be given a free pass to provide season tickets to the supporters of the new club. So they wouldn't need to seek any of the debt from the old club. And Whyte would value the £18m as small beer when compared to selling on Rangers as a going concern with no tax debt hanging over them. He could float the new club and make £30m or £40m from the flotation. In the meantime, the taxpayer (me) gets screwed.

There was a story in the paper today about the Government coming down hard on benefit cheats who defraud the country out of £100m a year by claiming to be single when they are shacked up. The effort in chasing that £100m down will be considerable. But they will put it in. Why are they not as concerned with Rangers potentially walking away from a £75m bill? It's time the law was changed and the Directors made accountable for stuff like this.

In the meantime, Craig Whyte has blamed everything on the previous board. But the previous board didn't decide to deduct PAYE from the players and then pocket it. He did that all by himself and for that alone he is not fit to run a football club.

Edited by HTG
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