~~~ Posted March 9, 2012 Share Posted March 9, 2012 Incredible. Just incredible Whyte has probably (allegedly) shafted more people than Ron Jeremy ! Aye, but at least people enjoy getting shafted from Ron and know what to expect! 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted March 9, 2012 Share Posted March 9, 2012 That is the only way he could have duped Ticketus and Murray into thinking he had credible funding and authority to sign away STs. 0 Quote Link to comment Share on other sites More sharing options...
QOS 1970 Posted March 9, 2012 Share Posted March 9, 2012 What is chick young so bothered about ? I thought he was a St.Mirren fan. 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 9, 2012 Share Posted March 9, 2012 From the STV report: "However, STV understands Ticketus has taken legal advice on several occasions about the validity of the deal and the company remains confident it will withstand any future court challenge from the administrators. The firm, which has long experience in deals with football clubs in severe financial difficulty, believes that the arrangement would stand regardless of whether Rangers’ assets are sold to a new company and the old one liquidated. It has stated it has already bought the season tickets from Rangers FC Plc, not loaned the club money, and it is therefore the legal owner." Nah nah nah nah nah nah. Tell you something gents..... this is throwing up a dizzying amount of potential litigations here and this maze of companies, shell companies, holding companies and so on is even leaving me a little dazed here and I have experience in this field ! (I thought) Lets look a bit at this... "The firm, which has long experience in deals with football clubs in severe financial difficulty, believes that the arrangement would stand regardless of whether Rangers' assets are sold to a new company and the old one liquidated.." Key word - believes. There is a genuine possibility that the LONDON based company (Octopus) have overlooked that they are dealing with Scots Law in this instance and there are precedents that might make this belief wrong. "It has stated it has already bought the season tickets from Rangers FC Plc, not loaned the club money, and it is therefore the legal owner.." Oh dear. This is their problem right here. If they have bought these as a product, they are absolutely fcuked if that product is not forthcoming due to Rangers FC Plc being liquidated. (In pretty much the same way that if I "buy" 100 cars from a future product run and the manufacturer goes tits up - my money does too) ! "Last week the company owned by Octopus Investments said it had "an obligation to its investors to pursue all avenues to ensure that the ticket purchase agreement it entered into with the club is honoured, and we are committed to going to the lengths necessary to ensure that the future of the club is preserved and its agreement with Ticketus fulfilled." Simple translation here..... "It's possible the little b*****d has pulled a fast one on us here and instead of us managing to make a fast buck for you investors, and ourselves of course, via these discounted futures (season tickets) we might have, as we Londoners say.....'bought a lemon'...and a fcuking BIG one at that. Sorry." Investments can go DOWN as well as UP and all that. In summary - Craig Whyte is the shark in the water and Ticketus/Octopus are thrashing around trying to get the fcuk out of the water ! Nah Nah Nah Nah Nah Nah No, they actually bought the season tickets, if Rangers go ker-plunk then they are just another creditor. So why have you been trying to argue that they'll get their money back? 0 Quote Link to comment Share on other sites More sharing options...
H_B Posted March 9, 2012 Share Posted March 9, 2012 (edited) That is the only way he could have duped Ticketus and Murray into thinking he had credible funding and authority to sign away STs. Well he didn't have to dupe Ticketus at all re funding. They were giving money, not receiving it. And Murray didn't care at the end of the day. All his driver was, was to make sure Lloyds got their cash, so they'd leave him alone. Once his company saw Wavetower had 24 million, everything was good as gold. It's Ticketus that have taken the gamble, or so it seems. Edited March 9, 2012 by H_B 0 Quote Link to comment Share on other sites More sharing options...
Gaspode Posted March 9, 2012 Share Posted March 9, 2012 From memory, Paul Murray appeared on the scene almost as Whyte's bid was accepted. In other words he had no chance of it coming to fruition. From what I can remember D. Murray wasn't interested in the bid by Paul Murray (and assocs) as P. Murray wanted D.Murray to take responsibilty for the Big Tax Case. 0 Quote Link to comment Share on other sites More sharing options...
cowden0 Posted March 9, 2012 Share Posted March 9, 2012 So am I right to say in summing up today's events, that none of us, or them, has a fuckin clue what's going on. 0 Quote Link to comment Share on other sites More sharing options...
candalan Posted March 9, 2012 Share Posted March 9, 2012 So am I right to say in summing up today's events, that none of us, or them, has a fuckin clue what's going on. Absolutely effin spot on mate. 0 Quote Link to comment Share on other sites More sharing options...
Thistle_do_nicely Posted March 9, 2012 Share Posted March 9, 2012 This thread has become like an American comedy sitcom; started off hilariously but by the 3rd series it had descended into schmaltzy drivel that took itself far too seriously. I don't care about the legal implications or who did what or the speculating, I want to laugh and point and giggle at the misfortune of an evil empire. I suggest the thread is demerged into 2, one for the experts where they can be erudite and another for the facile like me where we can just post gifs and be generally infantile. I kinda have to agree; that initial flurry of .gif's and general point-a-laugh-a-thon when the news of Rangers finally entering administration was hugely amusing. The subsequent clusterfuck of legal wrangling since then is giving me a headache. 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted March 9, 2012 Share Posted March 9, 2012 So am I right to say in summing up today's events, that none of us, or them, has a fuckin clue what's going on. Yep. The assumption is that Ticketus wouldn't have been so stupit as to put up the cash up front, but nobody has proof of this as far as I can tell. 0 Quote Link to comment Share on other sites More sharing options...
TheScarf Posted March 9, 2012 Share Posted March 9, 2012 What is chick young so bothered about ? I thought he was a St.Mirren fan. If Rangers go to the wall he won't have a job. There will be nothing for him to spunk over or write his ghastly columns on the BBC Sport website. 0 Quote Link to comment Share on other sites More sharing options...
MEADOWXI Posted March 9, 2012 Share Posted March 9, 2012 AS has been pointed out if Haudit & Daudit were in court in London claiming the £3.6Mill in Whyte's lawyers bank accounts belonged to Rangers this simply strengthens the Ticketus claim on future season tickets - assuming the b*****ds don't die. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted March 9, 2012 Share Posted March 9, 2012 One fun thing is that after Rangers fans celebrating over their cornflakes this morning that a pay deal had been done and the club was saved, no deal has happened .. Still potential for Duffman to go nuclear, hopefully.... 0 Quote Link to comment Share on other sites More sharing options...
GoTeamGaz Posted March 9, 2012 Share Posted March 9, 2012 Bear with me on this, for I am a graphic designer, not an accountant, so..... Say Whittaker, Naismith, Davis, and McGregor were on 25k a week. Taking a 75% cut each week saves 18,750 per week, per player. Total wages saved per week for the four of them is therefore 75,000. There's 52 weeks in the year, so 52 x 75,000 = 3,900,000. Divide that by the 12 months of the year equals 325,000 saved per month from Whittaker, Naismith, Davis, and McGregor. Now say Wylde and Celik's combined weekly wages were 14,000. Multiply that by 52 and divide by 12 gives a monthly saving of 60,666 for those two. Now say both Russell and Smith were on 150,000 a year. 300,000 combined divided by 12 gives savings here of 25,000 per month. 325,000 + 60,666 + 25,000 = £410,666 saved each month on the pay cuts so far announced, the two kids walking away, and the two staff members. They need to save one million per' month, and we haven't factored in the administrator's fees, which I believe are enormous, with 8 administrators working. Now, if my back of a fag packet calculations are anywhere near correct, why are the 'big four' player cuts being trumpeted as saving the club, and stopping redundancies, either playing staff, coaching staff, or non-football staff like marketing people, or ticket office staff? Note: Most times when I attempt this sort of thing, I get it wildly wrong, or make a glaring error, so any further input would be welcome! Obviously I am guessing at the wages earned by those so far let go, or offering to take cuts. In doing this though, it was purely because I couldn't understand why the four pay cuts announced today were going to be enough to make everything hunky-dory for everyone else. ERROR: you have not thought about tax & PAYE, as Rangers are too big a club to pay this they're actually only saving about £250,000 a month over what they're currently spending 0 Quote Link to comment Share on other sites More sharing options...
Dilbert Posted March 9, 2012 Share Posted March 9, 2012 Can you imagine a wee three line Gers match summary, hidden among the 3rd Division results. That would be bliss indeed Never gonna happen though 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted March 9, 2012 Share Posted March 9, 2012 The money from Ticketus to Whyte was initially put into an escrow account. (3rd party, inaccessible to Whyte) This means they didnt give him the money prior to him buying the club. He couldn't have transferred a penny out of that account until they got their security, but crucially he could use it to show proof of funds to Murray, before giving him his £1, and becoming the owner of Rangers, and thus the rights to their future season tickets. Then, he handed over the tickets (meaning they are good if the club continues in its present incarnation) in exchange for the £24m Looks kosher. Oh dearie me. Yep. The assumption is that Ticketus wouldn't have been so stupit as to put up the cash up front, but nobody has proof of this as far as I can tell Was the first bit just guesswork then? 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 9, 2012 Share Posted March 9, 2012 Can you imagine a wee three line Gers match summary, hidden among the 3rd Division results. That would be bliss indeed Never gonna happen though Because it would be a colour pullout on "Brave Rangers start at bottom" 0 Quote Link to comment Share on other sites More sharing options...
Newbornbairn Posted March 9, 2012 Share Posted March 9, 2012 So, how quick do people think league reconstruction will go through if the clubs put their minds to it? 0 Quote Link to comment Share on other sites More sharing options...
ray_of_licht Posted March 9, 2012 Share Posted March 9, 2012 So, how quick do people think league reconstruction will go through if the clubs put their minds to it? All done and dusted by the 32nd of Fanuary. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted March 9, 2012 Share Posted March 9, 2012 Bollocks.. 1520:BBC Sport Chris McLaughlin"Rangers players have started signing documents that will see them take huge wage cuts and stave off the immediate threat of redundancies." 0 Quote Link to comment Share on other sites More sharing options...
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