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Big Rangers Administration/Liquidation Thread - All chat here!


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Strong word is that Adams will be at Ibrox next season.

Adams exactly the type of manager Green should have employed off the bat. He is a proven lower league manager who knows how to work on a budget. You have a manager whose training of the game has been to overspend to win. That American who was going to do the incubator company thing said that all Ally was concerned about was his war chest.

It's funny how your fans pressurised Green into keeping on such a good Rangers man instead of going for the correct footballing decision. Rumour has it that he's about to do the same with taking the Cardigan on to the board of directors but Green only needs to think as far ahead as getting shares sold and getting out his nightmare, the new club and football progression will not be his concern after.

Edited by stonedsailor
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Strong word is that Adams will be at Ibrox next season.

There would need to be a job available, and that is looking increasingly unlikely.

I doubt he would comit anytime soon.

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Aye only if Ross county draw you in the cup, why go from a premiership team to a 3rd division franchise oh apart from a wad of cash

Do Derek and Daddy Adams not have historical links to Oldco?

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I see the orcs are on full bullshite mode tonight and their deflectors are up at full capacity.

I see they are still seething about Wednesday night and just want to depress everyone as much as them ! AGAIN !

I do love the way they completely debunk anything that says they are still in a whole heap of shit ! UNLESS ! it is favourable to them in the MSM or any other source !

What a bunch of FANNIES at times the orcs are :lol:

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I see the orcs are on full bullshite mode tonight and their deflectors are up at full capacity.

I see they are still seething about Wednesday night and just want to depress everyone as much as them ! AGAIN !

I do love the way they completely debunk anything that says they are still in a whole heap of shit ! UNLESS ! it is favourable to them in the MSM or any other source !

What a bunch of FANNIES at times the orcs are :lol:

At times?

One thing you learn early is to never change your team. Every single one of them has so they are not even 'fans' imo. None of them.

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At times?

One thing you learn early is to never change your team. Every single one of them has so they are not even 'fans' imo. None of them.

They all have season tickets at Mordhor as well funnily enough dry.gif they also claim to go to every game unless the away capacity is 3,000 there abouts :rolleyes:

They also claim to have better knowledge of The Clone Rangers dire situation than all of us because everything other than favourable is a timmy conspiracy :blink:

Maybe we should just listen to them seeing as they know best :lol: and see how bad the train crash is under their sublime insight as it is apparently never going to happen ! just like when they said their club would never die :)

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Just a small point,HMRC issued a tax assessment/bill, call it as you will,that assessment was appealed and is now at the First Tier Tribunal of the appeal. The Tribunal have never issued an assessment on tax owed,they are there simply to determine as to whether the EBT scheme was operated correctly by the club or not. They may well have found in part for both parties. If it's determined that it is tax evasion then i personally hope those responsible face the full power of the law.

Thats damned good of you to say so thank you David Murray.

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At times?

One thing you learn early is to never change your team. Every single one of them has so they are not even 'fans' imo. None of them.

It's true when you change team you only ever really support the newco, fanaticism never really grips you again. This is compounded by the fact that for the first few years you fight tooth and nail to protect your view that there will always be a continuation.

The good thing about both situations is the next generation. My kids can see "Caley (sic)" in the top flight of the Scottish game and they are proper fans also a few of their mates have turned their backs on the Glasgow newco. More for C*unty than ICT where I live but a result nonetheless.

Edited by stonedsailor
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100% fail, I support Rangers son and dont you forget it, 54 and counting, WATP, no one like us we dont care and all the other cliches :P

The Rangers with no history at all, £94m in tax. ohmy.gif

I smell Whyte on the club statement.

Rangers response to The Times

The #Rangers Response to The Times on Tax Investigations, Richard Hughes and Zeus Partners

After last night’s piece in The Times suggesting that Zeus Partners, a business run by Richard Hughes of Zeus Capital, was under investigation with a view to possible prosecution of unnamed parties, there has been extensive debate, not least here on this blog, about what, if anything, this means for Rangers.

The sub-editor who prepared the headline to the article may have over-egged the pudding slightly. To be fair, the article did not suggest any wrong-doing on the part of Rangers but, with a share issue on the way, and with the highly publicised troubles the previous company had with tax issues, it was undoubtedly an embarrassment which Mr Green and his cohorts would rather have done without.

As one would expect, there was a response from within Ibrox. It is only fair to re-produce it here. My comments are in bold.

———————————————-

The Board of The Rangers Football Club has issued the following statement today:

It reads: “The Board wishes to express its dismay over articles in The Times newspaper today which implies the Club is “in fresh trouble” with HM Revenue and Customs in relation to an investor in the Club. This is categorically not the case and the Chairman of the Club has written to The Times on this matter.

“The Rangers Football Club has no outstanding issues with HMRC and indeed the current management have an open and transparent dialogue with HMRC and, in particular, through our auditors and reporting accountants, Deloitte.

One would hope that, as a brand new company with less than six months’ existence, it would not have had time to run into difficulties with the tax man yet (or indeed at all)! Open and transparent dialogue with HMRC is a good thing. Long may that continue.

“The historic tax issues affecting Rangers (RFC 2012 Ltd which is now in liquidation) are well documented.

Well documented, although one will not find too much about them on the archive pages of the Rangers website!

Maybe, once the FTT reports, I can frame a book round it, thus documenting the Rangers EBT issue in no more than 2,000 pages. icon_smile.gif?m=1129645325g

“These issues, notably surrounding the EBT scheme, will continue to receive much media coverage, but have no bearing upon the ongoing operation of the football club and its intention to list as a public company.

The tax issues will have no direct bearing on the football club and the intention of floating. However, indirectly, they will, on the basis that they form part of the debt being pursued by the liquidators, BDO. Their inquiries, investigations, and right to challenge any alleged gratuitous alienation, could impact on the newco. It might not affect the fans who buy shares, but could discourage institutional investors.

However, as Mr Green has predicted a 400% profit for investors at this stage, I am sure such concerns would be dismissed by the money managers with millions at their control. After all, a little embarrassment is worthwhile if it can be traded for a four-fold profit!

“We wish to reiterate that Mr Richard Hughes has no involvement in the management of the club, nor is he a director.

The Times did not suggest he had such a role. Instead, he was described as an important shareholder.

And although he may have no role in the management of the company, two of his colleagues, or former colleagues, Imran Ahmadand Brian Stockbridge, are directors of Rangers. They remain listed on the Zeus Capital website as of today.

“Richard Hughes or his company Zeus Capital, both FSA regulated, are a minority investor.

One would have thought that Rangers would know who the shareholder was – after all, the shares cannot be transferred in a private limited company without the Board’s agreement.

It is true to say that Mr Hughes/Zeus is a minority shareholder. However that is in the sense of not being the majority owner, rather than someone with a handful of shares for sentimental reasons.

“The Club does not have an existing relationship with Zeus Partners, which is also named in The Times as being part of an HMRC inquiry.

No one, including The Times, suggested that there was a current relationship with Zeus Partners. The specifics of the response lead to a simple question. If no existing relationship with Zeus Partners, has there been one which ios now concluded?

“It would be inappropriate for The Rangers Football Club to comment further on either the private and professional affairs of Mr Hughes, or the commercial activities of Zeus Partners or Zeus Capital.”

So the statement does not deny, as would have been very difficult, that there are dealings with Zeus Capital.

One must admire the speed of the Board’s rebuttal, not letting the grass grow on the story. However, the issues with Rangers over recent years, and the proximity of a share issue not unreasonably raise concerns when allegations are made, however tenuous, of financial “chicanery”.

There was no comment in the statement on the allegation in the Times piece that Mr Hughes stood to make millions from the floatation. Perhaps that was because that would be seen as the private or professional affairs of Mr Hughes!

I wonder how pleasant the next partners’ meeting of Zeus Capital will be, if Mr Ahmad and Mr Stockbridge have to raise with the boss of Zeus the effect, if any, this news might have on the share flotation.

———————-

And talking of tenuous connections, and indeed one which is undoubtedly a coincidence, as well as this Richard Hughes, there are a number of others of that name listed on the FSA Register. One of Mr Hughes’ namesakes is a financial adviser with Merchant House Financial Services – Merchant House being closely connected with the erstwhile owner, Mr Whyte!

Edited by Bairnforever1992
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100% fail, I support Rangers son and dont you forget it, 54 and counting, WATP, no one like us we dont care and all the other cliches :P

oh and GIRUY :D

54 what? Days in existance? Waist Size? How many pies you can eat at a match? I'm baffled

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