Big Rangers Administration/Liquidation Thread - All chat here!

[ribzanelli]

Any truth in the rumour that Rangers are due Burnley £500k if Lafferty plays 100 games (he's on 98)?

What is the scenario regarding debts accrued after they have entered administration?

[H_B]

Interesting- I did wonder about McGregor, but surprised at the other two.

I was told by, admittedly a Celtic fan, in the summer when Whittaker renewed his contract that Whyte was desperate to keep him because he was valued as an asset in the accounts, hence the ludicrous weekly wage. This wasn't going to be a problem longer term, because Rangers were going to go into administration.

At the time I thought nothing of this and dismissed it as standard Celtic-fan mud slinging paranoia. Now, well.....

[swedishsale]

What is the scenario regarding debts accrued after they have entered administration?

The Administrator themselves are responsible for these debts.

An administation process is expensive and they will only accept the job if they think there is enough money to pay their fees also. If they think that their bill and the bills of those trading after the administration event is even getting close to the amount of cash avaliable they will pull the plug and go into Liquidation ASAP

It would be interesting to know what the Admin bill is going to be

[Skyline Drifter]

In most administrations the pattern has been that the big ticket players costing the most money are the first out the door. It only leaves a youth team behind,

Dundee didn't.

The only player with significant regular first team appearances released when they went into administration was Colin McMenamin. And Eric Paton was on the fringes of it. The others released were out of the picture or injured (could be hard luck on Naismith then!).

Dundee's administrator gambled on keeping the high waged Griffiths and Harkins in the hopes of selling one in the next window, which they did, with Griffiths going to Wolves. Harkins eventually left for the square root of sod all in the summer though. Dundee were nearer to a window than Rangers though I think.

[Ivo den Bieman]

...they sacked both manager and first team coach and released a good number of players who had featured in the first team. Plus, it was the other side of a transfer window.

[swedishsale]

...they sacked both manager and first team coach and released a good number of players who had featured in the first team. Plus, it was the other side of a transfer window.

If they had fixed term contracts then if they were "sacked" they could go to a tribuneral, as the club having no money or beng in Admin is not grounds for Sacking.

There contracts would have to be paid up, either in full or more likely via a compromise agreement which save both the club and the player money as tax is not payable on the first £30K (i think).

[magee84]

The Daily Mail must have its story wrong. I'm sure that when the Ticketus deal became public Craig Whyte said that the cash would be used to develop the team and that none of it had been used for the purposes of debt reduction. Surely a writ will be issued in the next few days and the Mail can join the BBC in the dock.They'd be off the visitor list at Ibrox if Whyte were still around the place.

No succulent lamb or vintage claret for the bbc boys...

[H_B]

There contracts would have to be paid up, either in full or more likely via a compromise agreement which save both the club and the player money as tax is not payable on the first £30K (i think).

No they wouldn't. At all.

http://www.scotsman.com/sport/football/top-football-stories/boyle_labels_sacked_fir_park_players_as_malingerers_1_1394568

"It was coming to them all anyway. They were simply into the wage structure a year earlier than everybody else, so they probably only lost out on a year at the higher level of earnings. I tell you one thing, none of them will be getting those wages now: here, there or anywhere. It was all a bit tragic, but you cannot make those big decisions without causing angst."

[ribzanelli]

With Geoff Broon whining now, does anybody actually know how the TV revenue is split? I imagine the OF take the lions share. So if we lose Rangers (fingers crossed), the TV revenue will be reduced but it surely can be spread more evenly making up for most of the shortfall no?

[H_B]

Strong was further angered after a meeting with players' union chief Tony Higgins ruled out the prospect of legal action, for the time being at least.

With interim administration in place the club is now protected by the law," said Higgins.

"But our strong view is that football at some stage has to pick up the responsibility of finance to these players.

"If we don't get that, then the game collapses. "While we recognise the importance of Motherwell surviving, the last thing we want to see is other clubs thinking this is a way out of their responsibilities."

[swedishsale]

With Geoff Broon whining now, does anybody actually know how the TV revenue is split? I imagine the OF take the lions share. So if we lose Rangers (fingers crossed), the TV revenue will be reduced but it surely can be spread more evenly making up for most of the shortfall no?

TV revenue is split on finishing position in League only.

The only thing that favours the OF is that they always finsih 1st and 2nd....normally!

[Skyline Drifter]

...they sacked both manager and first team coach and released a good number of players who had featured in the first team. Plus, it was the other side of a transfer window.

Yes, I'm not disputing the departure of the management staff, that wasn't in debate. On checking the dates, they went into admin almost exactly the same number of days before the next window opened. Dundee went into administration on 14th September, three and a half months before the window opened. Rangers have gone in three and a half months before a window opens.

The players who departed Dundee were McMenamin, Paton, Kerr, Kuqi, Shimmin, Fox, Antoine-Curier, McHale, Grant. Of those, only Brian Kerr started the game before they were released and McMenamin had been a sub (as had Fox and Kuqi though unused). Paton had last been involved three weeks earlier. Charlie Grant hadn't played in over a month. Paul McHale hadn't kickd a ball since the second day of the season. Antoine-Curier hadn't kicked a ball in the league at all and Shimmin never kicked a ball for them.

Whilst I'm not disputing that first team squad members lost their jobs, the implication that the highest earners are always first out the door was not true in that case. None of them had been automatic picks at all and most were fringe at best.

[swedishsale]

Yes, I'm not disputing the departure of the management staff, that wasn't in debate. On checking the dates, they went into admin almost exactly the same number of days before the next window opened. Dundee went into administration on 14th September, three and a half months before the window opened. Rangers have gone in three and a half months before a window opens.

The players who departed Dundee were McMenamin, Paton, Kerr, Kuqi, Shimmin, Fox, Antoine-Curier, McHale, Grant. Of those, only Brian Kerr started the game before they were released and McMenamin had been a sub (as had Fox and Kuqi though unused). Paton had last been involved three weeks earlier. Charlie Grant hadn't played in over a month. Paul McHale hadn't kickd a ball since the second day of the season. Antoine-Curier hadn't kicked a ball in the league at all and Shimmin never kicked a ball for them.

Whilst I'm not disputing that first team squad members lost their jobs, the implication that the highest earners are always first out the door was not true in that case. None of them had been automatic picks at all and most were fringe at best.

It makes most sense (although the actual financial situation will dictate) for the Admin guys to do a Compromise deal with the highest paid players that are the least liely to play or that the manager feels can be replaced from the youth ranks. This reduces the overall costs the quickest because of the tax breaks avaliable for Compromise deals.

So for RFC I would expect to see the highest wage earners, with the least game time and the shortest contracts go first.

No idea who that is though.

All though i also supect the finances are so bad that these guidline will almost certainly go comletelty out the window.

[Savage Henry]

James Beattie's a dead man then?

[SodjesSixteenIncher]

It looks increasingly like Whyte has pals within Ticketus/Octopus and there is no way they weren't aware of his track record for liquidating companies.

Whatever his plan for Rangers, they will be aware of it and through a proxy network of parent companies/subsiduaries will be fully active in the asset grab after the big tax case.

Whyte buys Rangers with 24m of Ticketus money. 18 to Lloyds and 6 to Wavetower (either for the purpose of newco Gers or maybe his back pocket)

Keeps the club on life support by using Champions League cash until tax case in November.

Loses the case and liquidates them.

Ticketus/Octopus end up operating Ibrox through clauses and securities triggered by the asset grab - as far as the public are aware the 24m was an unsuccesful attempt to cope with the tax case.

Newco start up with no debt, a rented stadium (Ticketus/Octopus) and Whyte sells for a profit/sails off with his 6m.

The problem is Ally fucked up Europe and the tribunal was pushed back, forcing Whyte to use the players tax to operate the club. This brought in HMRC and everything comes out in the wash. He fucks off to Monaco with his fingers crossed.

Sorry for long post, had to write it down to get me head round it.

Edited February 21, 2012 by SodjesSixteenIncher

[pozbaird]

If Rangers administrators do announce specifics of job losses - does anyone think that any player who was in the squad for the Killie game will be culled by the administrator (with McCoist's input).

My guess is no. Unless suspended or injured, I expect them all to be available for the ICT game. The axe will fall instead on kids and staff, and we'll see a club who wanted to pay Daniel Cousin anything between 5-7.5k a week get rid of people who were maybe on £300-£500 a week, and who will struggle to get another job.

Just a hunch.

[swedishsale]

It looks increasingly like Whyte has pals within Ticketus/Octopus and there is no way they weren't aware of his track record for liquidating companies.

Whatever his plan for Rangers, they will be aware of it and through a proxy network of parent companies/subsiduaries will be fully active in the asset grab after the big tax case.

Whyte buys Rangers with 24m of Ticketus money. 18 to Lloyds and 6 to Wavetower (either for the purpose of newco Gers or maybe his back pocket)

Keeps the club on life support by using Champions League cash until tax case in November.

Loses the case and liquidates them.

Ticketus/Octopus end up operating Ibrox through clauses and securities triggered by the asset grab - as far as the public are aware the 24m was an unsuccesful attempt to cope with the tax case.

Newco start up with no debt, a rented stadium and Whyte sells for a profit/sails off with his 6m.

The problem is Ally fucked up Europe and the tribunal was pushed back, forcing Whyte to use the players tax to operate the club. This brought in HMRC and everything comes out in the wash. He fucks off to Monaco with his fingers crossed.

Sorry for long post, had to write it down to get me head round it.

Decent analysis there.

The TicketUS issue seems to be wrapped up in the OLD or New Rangers needing to use Ibrox.

Therefore meaning that TicketUS can resell the tickets to the fans and get there 24m back while meaning that Rangers New or Old have no revenue from Ibrox ticket sales for years...............best option...would be for Newco Rangers to play somewhere else........Ground share anyone? Now where else in Glasgow could you hold 50+ thousand every other Sat..........mmmmmmmmmm

[Skyline Drifter]

It makes most sense (although the actual financial situation will dictate) for the Admin guys to do a Compromise deal with the highest paid players that are the least liely to play or that the manager feels can be replaced from the youth ranks. This reduces the overall costs the quickest because of the tax breaks avaliable for Compromise deals.

So for RFC I would expect to see the highest wage earners, with the least game time and the shortest contracts go first.

No idea who that is though.

All though i also supect the finances are so bad that these guidline will almost certainly go comletelty out the window.

Agree entirely. Just pointing out that doesn't necessarily mean the biggest stars at Ibrox will be first out the door. McGregor is a very sellable asset and unlikely to be binned unless the whole club is folding for instance. Lafferty, injured and out of contract soon is more likely to be first out the door along with the likes of Naismith who has no chance of featuring any time soon.

[Borys]

TV revenue is split on finishing position in League only.

The only thing that favours the OF is that they always finsih 1st and 2nd....normally!

From an old post by Tod is God

http://www.pieandbov...-l-prize-money/

Fee payments to Clubs, after making deduction and/oradequate provision in accordance with Rule C4.2.2, shall be made asfollows:-

C4.3.1 The remaining amount of the Commercial Revenues ("the NetCommercial Revenues") referable to any one Season shall be divided intotwo tranches as described and paid to the Clubs as set out in the tablein Rule C4.3.2;

C4.3.2 The tranches referred to in C4.3.1 are:

"The Basic Facility Fee Pool", 48% of the Net Commercial Revenues,which shall be shared equally amongst the Clubs participating in theLeague during the Season in question; and

"The Supplementary Facility Fee Pool", 52% of the Net CommercialRevenues, which shall be paid to the Clubs participating in the Leagueduring the Season in question in accordance with their respectiveleague positions at the end of that Season.

League Position vs % Revenue

(Basic + Supplementary = Total)

1 4.0% 13.0% 17.0%

2 4.0% 11.0% 15.0%

3 4.0% 5.5% 9.5%

4 4.0% 4.5% 8.5%

5 4.0% 4.0% 8.0%

6 4.0% 3.5% 7.5%

7 4.0% 3.0% 7.0%

8 4.0% 2.5% 6.5%

9 4.0% 2.0% 6.0%

10 4.0% 1.5% 5.5%

11 4.0% 1.0% 5.0%

12 4.0% 0.5% 4.5%

Borys

Edited February 21, 2012 by Borys

[swedishsale]

Agree entirely. Just pointing out that doesn't necessarily mean the biggest stars at Ibrox will be first out the door. McGregor is a very sellable asset and unlikely to be binned unless the whole club is folding for instance. Lafferty, injured and out of contract soon is more likely to be first out the door along with the likes of Naismith who has no chance of featuring any time soon.

Indeed, thought i think Naismith has a year or two left on his contract so he wont go unless he is advised to just take a payoff and then get a free start somewhere down south next season.

Lafferty, if he is out of contract at the end of this seaosn and currently injured would be near the top of the list for a compromise deal IMHO