Lyle Lanley Posted February 16, 2012 Share Posted February 16, 2012 (edited) The whole of Scottish Football will suffer No we won't suffer. Stick your Scottish football will suffer without Rangers up your arse. Edited February 16, 2012 by Isaiah Osbourne -1 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted February 16, 2012 Share Posted February 16, 2012 I suspect it may work like this: The holding company get a loan from Ticketus. That loan is probably subject to a personal guarantee from Whyte, so effectively safe. The loan will also carry a decent short term return, probably in the form of a fee. So worthwhile for Ticketus. The holding company then loans the money received from Ticketus in turn to Rangers. That money being used to pay off the bank debt. Since the purchase of Rangers by the holding company, funds have been used to repay a reasonable chunk of this loan. I expect that the indebtedness of Rangers to the holdng company has been reduced as far as possible. I'd guess now less than £10m. Ticketus are happy as they make a good short term profit with no real risk as the debt is backed by a personal guarantee from Whyte. They are outwith the financial problems of Rangers. Whyte is happy as his holding company is a secured creditor and will have the remainder of any loan paid in full. It's effectively just an in and out for him in any case. All we can do is guess who did what to whom and when. We need someone (probably the BBC) to work out the companies involved, relationships and Whyte's role in them directly or indirectly. Administrator said there were notes of interest, as you would expect. Presume a Dermot Desmond consortium is one of them Anyone looking at taking on Rangers will look at it as a business. This would plan for future expenditure and income. Income would include ticket/season ticket sales. The administrator must make sure these are included without any encumbrances. So for them to say the Ticketus deal is of no interest to them is nonsense. Administrator said " the Ticketus debt was not secured against the assets of the football club." Careful phrasing here as he talks about being "secured". What he doesn't say is was asset stripping going on. Love the confidence that Whyte's 'personal guarantees' would ensure Ticketus would get their money. Not convinced. 0 Quote Link to comment Share on other sites More sharing options...
Gibby82 Posted February 16, 2012 Share Posted February 16, 2012 Are they dead yet? 0 Quote Link to comment Share on other sites More sharing options...
Desert Nomad Posted February 16, 2012 Share Posted February 16, 2012 (edited) Ticketus services 65 dissolved today. I'd this the same ticketus? is their any way of finding what Ticketus service number Whyte was using? Edited February 16, 2012 by Desert Nomad 0 Quote Link to comment Share on other sites More sharing options...
Pte Frazer Posted February 16, 2012 Share Posted February 16, 2012 No we won't suffer. Stick your Scottish football will suffer without Rangers up your arse. I agree. Unfortunately, when you have that goon from St Johnstone saying "we need them to survive blah blah blah." Not to mention Dunfermlines pitiful statement.... I'm now behind Mad Tache and his 10 team league endorsement....everyone else could vote to punt Celtic and all would be well. 0 Quote Link to comment Share on other sites More sharing options...
Dindeleux Posted February 16, 2012 Share Posted February 16, 2012 We'll be fine, indeed our moneybags chairman is probably pissing himself McKee 0 Quote Link to comment Share on other sites More sharing options...
T_S_A_R Posted February 16, 2012 Share Posted February 16, 2012 Ticketus services 65 dissolved today. I'd this the same ticketus? there's 17 of them according to their website. people chuck their money in, they run for 5 years then dissolve and the investors get their money. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 16, 2012 Share Posted February 16, 2012 Don't know if this has already been mentioned, but on SSN McCoist saying he still has faith in Whyte. That's an exclusive club Ally. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 16, 2012 Share Posted February 16, 2012 Ticketus services 65 dissolved today. I'd this the same ticketus? According to Companies House website this company was dissolved 11 October last year. 0 Quote Link to comment Share on other sites More sharing options...
chico Posted February 16, 2012 Share Posted February 16, 2012 According to Companies House website this company was dissolved 11 October last year. So which Ticketus gave Whyte the £24 M? 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 16, 2012 Share Posted February 16, 2012 So which Ticketus gave Whyte the £24 M? There's a whole bunch of companies with the Ticketus name and different suffices, a few of which have been dissolved. 0 Quote Link to comment Share on other sites More sharing options...
HibeeJibee Posted February 16, 2012 Share Posted February 16, 2012 you are accusing craig whyte of brazenly stealing £24 million in a manner that would definitely lead to his arrest and imprisonment as well the end of his business career and the forfiture of a lot of his assets. i somehow doubt that is his masterplan. I agree with you; insofar as while only time'll tell if Whyte is a crook, a puppet, an evil genius, or a shrewd businessman playing the parties around him, the one thing he doesn't strike me as is an idiot. I'd doubt Ticketus are idiots either, which is why it being as simple as them giving him £24M and him snaffling it without recourse also seems unlikely. Perhaps some of the Dundee fans on here will remember more about this, but I am sure something was said about the SFA/SFL wanting to warn clubs that using tax money to fund a short fall would end up with penalties such as the 25 point deduction the Dens park mob got last season. SFL. "Don't use it as a credit card". 0 Quote Link to comment Share on other sites More sharing options...
HaikuHibee Posted February 16, 2012 Share Posted February 16, 2012 So if I've been following things correctly, Whyte buys Rangers FC Ltd through a holding company, pays Lloyds 18 million through an Octopus. The money from projected sales of pies goes into an offshore EBT which has been secured against a 24 million loan from Ticketus, through Whyte's Hightower, offset against the Jelavic money which currently resides in a carboard box under the bed. 9 months of unpaid tax is in the tea caddy at Murray Park - but the administrators had coffee, so were unable to comment. 49 million, plus penalties, hasn't caused HMRC to ask for two sugars and a chunky Kit Kat with theirs yet. Alex Salmond and David Cameron have bought tickets for the Killie end on Saturday, and Ticketus are nothing to do with anything, they don't know nuthin' about anythin'. I think that's it. He would have gotten away with it too, if it wasn't for those pesky kids. Anyone remember the stories coming out of Dundee a few years ago? Folk stuffing money into their car boots in the Dens Park car park, etc. The shit that is going on at Rangers makes all of that look like a bit of harmless fun. Short of hearing that Whyte plans to outsource Rangers catering to a Burmese child slave trader, I am not sure if it is physically possible to be more of a c**t. 0 Quote Link to comment Share on other sites More sharing options...
chico Posted February 16, 2012 Share Posted February 16, 2012 There's a whole bunch of companies with the Ticketus name and different suffices, a few of which have been dissolved. Right. So a few journos need to figure out which ones are active, which one ponied up £24 mil and who the directors and principals are of that company or companies. 0 Quote Link to comment Share on other sites More sharing options...
T_S_A_R Posted February 16, 2012 Share Posted February 16, 2012 Right. So a few journos need to figure out which ones are active, which one ponied up £24 mil and who the directors and principals are of that company or companies. they're not companies. they're venture capital trusts operated by octopus investments. they operate for 5 years at a time. 0 Quote Link to comment Share on other sites More sharing options...
chico Posted February 16, 2012 Share Posted February 16, 2012 they're not companies. they're venture capital trusts operated by octopus investments. they operate for 5 years at a time. So why can they be found in companies registers? I guess the octopus stuff is offshore? 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 16, 2012 Share Posted February 16, 2012 So why can they be found in companies registers? I guess the octopus stuff is offshore? There is a whole bunch of them on the Companies House website with the description "Private Limited Company". 0 Quote Link to comment Share on other sites More sharing options...
HibeeJibee Posted February 16, 2012 Share Posted February 16, 2012 Sorry, why do we have to tell Sky to poke it? Why can't we take their money and improve the league in Scotland at the same time? Why is it always necessary to impoverish Scottish fitba to improve it? And indulge in mental gymnastics while we do it. Reduce the amount of money in the game and Scottish football finances will improve. Pay the players £500 a week and we'll end up with better players. Fill the schedules with endless amounts of utterly meaningless lower profile games and more fans will show up. Tell Sky to ram it and lose their money and vast amounts of commercial & advertising money and we'll be better off. Winston Smith didn't have to deal with this amount of doublethink… Good post IMO, and I think the answer is that people want the future to be like the past ("when we were great") - and then the assumption becomes that to get there, we need to replicate the past. Thus we find the solution being the abandonment of TV coverage, the adoption of a 16/18-team SPL playing 30/34-games, League Cup group-stages, halving ticket prices to double crowds, terracings, and most likely the resurrection of cloth caps and the Glasgow Charity Cup too. Both you and I have posted previously over changes we'd make to the game. In your case it's an American-style model (whether North American or South American)... in my case it's more conservative but still fairly radical, e.g. European Play-offs and bonus points. However, it's always shot-down by cries of "back to 1967", presumably as people think that pretending its 1967 will replicate 1967. 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted February 16, 2012 Author Share Posted February 16, 2012 Latest 'Scotland Tonight' just starting on STV... 'Do Celtic need Rangers to survive'... popcorn at the ready... 0 Quote Link to comment Share on other sites More sharing options...
chico Posted February 16, 2012 Share Posted February 16, 2012 There is a whole bunch of them on the Companies House website with the description "Private Limited Company". So they're just companies then with directors and normal registration and accounts requirements? 0 Quote Link to comment Share on other sites More sharing options...
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