Jussy Posted March 23, 2012 Share Posted March 23, 2012 He was the guy i was hoping would buy the club. He seems more crooked than the man he's replacing I think their is only 1 way this could all get more funny and that is for the administrators to sell the club to Craig Whyte #2 their isn't enough popcorn in the world. I take your point, but isn't Dave King still involved with the blue knights? In which case this is win win. 0 Quote Link to comment Share on other sites More sharing options...
betting competition Posted March 23, 2012 Share Posted March 23, 2012 (edited) The way I'm reading it is that at present Ticketus aren't owed anything. They will only become a creditor when their payment is due (Jan'13). I thought they was but obviously not going with Matt Slater twitter: This ruling appears to have narrowed field somewhat: Blue Knights CVA or liquidation & pray for clemency Saying that it all depends on HMRC going with CVA i would have thought but if they do not agree its liquidation Edited March 23, 2012 by betting competition 0 Quote Link to comment Share on other sites More sharing options...
HTG Posted March 23, 2012 Share Posted March 23, 2012 The Ticketus position may be a simple one. If they are owed money while Rangers are in admin, they will become creditors for the sum owed. If Rangers come out of admin and the next instalment is due, it will be payable in full. The only way it could not be paid in full is if Rangers are in admin on each of the due dates. By failing to get the agreement quashed, Rangers cashflow is fucked for years. There is no way D and P can incorporate future debts into an admin settlement otherwise everyone would pay 10p in the pound on all current and future liability. They are quite fucked by this I think. 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted March 23, 2012 Share Posted March 23, 2012 (edited) And over the next 4 years, or what ever it is, the cumulative amount that Rangers will owe Ticketus will be vastly in excess of the £24M they paid for their advanced purchase of STs? Sorry edited to explain better: To clarify, Rangers dont 'owe' Ticketus anything. Ticketus own the tickets, so they get the profit. The tickets are worth 50m or thereabouts at current season ticket prices. Edited March 23, 2012 by Macshimmy 0 Quote Link to comment Share on other sites More sharing options...
Ranaldo Bairn Posted March 23, 2012 Share Posted March 23, 2012 Whit!! I mean, WHIT!!!! 100% interest? 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted March 23, 2012 Share Posted March 23, 2012 And over the next 4 years, or what ever it is, the cumulative amount that Rangers will owe Ticketus will be vastly in excess of the £24M they paid for their advanced purchase of STs? I dare say it will be.......say for instance £10m due every Jan for the next 4 years. Ticketus won't become a creditor until Jan'13 (for £10m). 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted March 23, 2012 Author Share Posted March 23, 2012 Anyone got some spare Neurofen? I've got the mutha' of all headaches just reading today's posts.... and that's without looking at our new 3rd kit. 0 Quote Link to comment Share on other sites More sharing options...
Jussy Posted March 23, 2012 Share Posted March 23, 2012 Whit!! I mean, WHIT!!!! 100% interest? Is it not more the case that the STs are sold at a reduced cost to Ticketus from what their actual value is, presumably about 50% of selling cost. So when rangers sell them to ra peepul and pass on the money to Ticketus Ticketus make a tidy profit? 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted March 23, 2012 Share Posted March 23, 2012 Whit!! I mean, WHIT!!!! 100% interest? Effectively. We don't have the exact figures, but Ticketus paid about 200-250 quid for each ticket, They now have the right to sell them to fans for the usual 500-600 quid. = profit. 0 Quote Link to comment Share on other sites More sharing options...
glensburgh Posted March 23, 2012 Share Posted March 23, 2012 Whit!! I mean, WHIT!!!! 100% interest? it's a payday loan, innit? ticketus are wonga.com. 0 Quote Link to comment Share on other sites More sharing options...
squidger Posted March 23, 2012 Share Posted March 23, 2012 so really after nearly two months nothing has changed except a decrease in players wages, which will basically cover the administrators fees and legal fees. Call me old fashioned but these 'administrators' seemed to have done the square root of f**k all. Trying to get your head around all the 'developments' has kind of whitewashed blurred the rather obvious elephant in the corner. 0 Quote Link to comment Share on other sites More sharing options...
Macshimmy Posted March 23, 2012 Share Posted March 23, 2012 (edited) Is it not more the case that the STs are sold at a reduced cost to Ticketus from what their actual value is, presumably about 50% of selling cost. So when rangers sell them to ra peepul and pass on the money to Ticketus Ticketus make a tidy profit? Aye. you made a better job of explaining that than me. Seems like the more you look at that deal the harder it is to believe The papers do disagree fairly drastically over the exact deal, Telegraph says: Ticketus insisted they have a legally-binding agreement to receive £27million back, thought to be over three years. But the Herald was bandying the figure of 100,000 tickets around, which presumably would normally bring in 50m Edited March 23, 2012 by Macshimmy 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted March 23, 2012 Author Share Posted March 23, 2012 so really after nearly two months nothing has changed except a decrease in players wages, which will basically cover the administrators fees and legal fees. Call me old fashioned but these 'administrators' seemed to have done the square root of f**k all. Trying to get your head around all the 'developments' has kind of whitewashed blurred the rather obvious elephant in the corner. Got to agree wth your assessment - Smith and Russell jumped ship in a micro-second, Wylde and Celik walked. Player wage reductions are temporary measures only. Pleased for the 'ordinary' staff - none of them lost their jobs. Not one. There's only two possibilities. 1. Haudit and Daudit are genuinely incompetent. 2. Haudit and Daudit are merely making themselves seem incompetent as they carry out Whyte's plan for liquidation, leaving Whyte as main creditor when the assets are sold off. 0 Quote Link to comment Share on other sites More sharing options...
Ranaldo Bairn Posted March 23, 2012 Share Posted March 23, 2012 Clearer now, thank you gents. 0 Quote Link to comment Share on other sites More sharing options...
Drooper Posted March 23, 2012 Share Posted March 23, 2012 The way I'm reading it is that at present Ticketus aren't owed anything. They will only become a creditor when their payment is due (Jan'13). In that case, D+P cannot come close to arranging for HMRC to be usurped as by far the largest creditor (and thus well in excess of 25% value) so the hopes of a AVC hang in the balance? What is the scenario if HMRC lose the big tax case? Would they still be 25%+ creditor? You'd think so. 0 Quote Link to comment Share on other sites More sharing options...
The ghost of Jim Morton Posted March 23, 2012 Share Posted March 23, 2012 So the merry-go- round continues. Braw. I do wish that HMRC would come oot and say something ..Preferably along the lines of " We aint cutting no deals with anyone" That would have the admins rushing for the Imodium Plus.. Is there actually a list anywhere of all Rangers creditors yet?? I seem to remember previous admins where a full list of creditors was published I am correct.. http://www.thecourier.co.uk/Sport/Football/article/10592/revealed-full-list-of-dundee-fc-creditors.html Come on Haudit an Daudit, get yer act together and gees some great weekend reading.. 0 Quote Link to comment Share on other sites More sharing options...
Handsome_Devil Posted March 23, 2012 Share Posted March 23, 2012 (edited) Chris McLaughlin @BBCchrismclaug Reply Retweet Favorite · Open #Rangers administrators believe today's news from court states they have final say on whether the Ticketus deal is honoured. Chris McLaughlin @BBCchrismclaug Reply Retweet Favorite · Open #Rangers administrators statement due soon. They appear pleased by today's judgement. This will be interesting! Edited March 23, 2012 by Handsome_Devil 0 Quote Link to comment Share on other sites More sharing options...
Hipster Dufus Posted March 23, 2012 Share Posted March 23, 2012 (edited) If I was sticking a fiver on the outcome, it would be Newco Rangers are in a 14-club SPL next season with no relegation this year and the First Division runners-up getting a bonus. DAFC would be very happy at that outcome with a few good gates to come from battles with Falkirk (should they be 2nd) but how many fans would it drive (or keep) away from SPL gates due to the cow-towing to RFC? Probably depends if the decision is made by the 6 member SPL board or the member clubs...... Thinking out loud questions on Ticketus: - Wonder if it was 1 person (possible acquaintance known to Craig Whyte) or their BOD responsible for okaying the original deal with RFC for the 4 seasons of STs? - How sick does that person/group feel? - Nobody wants to fritter £24 £27 million, but how much revenue do Ticketus/Octopus do in a year? - Have they had any dealings with Portsmouth or Leeds or any other sinking ships? Edited March 23, 2012 by Hipster Dufus 0 Quote Link to comment Share on other sites More sharing options...
Drooper Posted March 23, 2012 Share Posted March 23, 2012 There's only two possibilities. 1. Haudit and Daudit are genuinely incompetent. 2. Haudit and Daudit are merely making themselves seem incompetent as they carry out Whyte's plan for liquidation, leaving Whyte as main creditor when the assets are sold off. I reckon #2 seems about right you know. Stan and Ollie are procrastinating, prevaricating, and obfuscating their way to the inevitable liquidation of the Mighty Gers. Smashing stuff Then again, that was my heart talking. My head still tells me that the cheating bastards are going to wriggle out of this relatively unscathed 0 Quote Link to comment Share on other sites More sharing options...
Drooper Posted March 23, 2012 Share Posted March 23, 2012 Chris McLaughlin @BBCchrismclaug Reply Retweet Favorite · Open #Rangers administrators believe today's news from court states they have final say on whether the Ticketus deal is honoured. Chris McLaughlin @BBCchrismclaug Reply Retweet Favorite · Open #Rangers administrators statement due soon. They appear pleased by today's judgement. This will be interesting! FFS, they think they've been given carte blanche to do what the fuck they want. 0 Quote Link to comment Share on other sites More sharing options...
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