AberdeenBud Posted August 10, 2013 Share Posted August 10, 2013 No hope no chance, Celtic 1 Liverpool 0 Sent from my GT-I8190 using Pie & Bovril mobile app Sent from my C5303 using Pie & Bovril mobile app 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted August 10, 2013 Share Posted August 10, 2013 24hrs notice. Lying chunt. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted August 10, 2013 Share Posted August 10, 2013 A mad Timmy blogger warned you and your fans nearly 4 months before you entered administration Sally. Rangers Insolvency: Is it inevitable? 25/10/2011 Sleep has become a precious and rare commodity in recent weeks and I find myself trying to pry my eyes open to absorb the details of a data-packed Excel spreadsheet. For any normal, well-adjusted person, thoughts of forcing one’s eyes to move cell-to-cell, checking formula-after-formula, deep into the small hours of the morning would evoke a dystopian nightmare from A Clockwork Orange. However, this is not just any spreadsheet. This material has me transfixed. Commonsense says “leave it until the morning”, but I cannot sleep. This is Rangers’ cashflow projection for season 2011/2012. Naturally, I cannot disclose the origin of the data in the spreadsheet. However, I have confidence in its authenticity and its accuracy. I believe that it portrays genuine insight into Rangers’ cash flows for the current season. While I anonymise the data and figure out a way of presenting it on a blog, I will just give you the conclusions. Rangers FC face a cash shortfall by the end of this season of about £19m Without a fresh cash injection, Rangers will run out of money in October / November And most significantly: Without a fresh cash injection- Rangers will be insolvent before the result of the EBT tax case is even known Whyte’s new-found candour has him admitting that there is a crisis at Rangers, and that insolvency is a distinct possibility. However, it is tempered with the narrative that he inherited a mess. Any crisis, according to Whyte, is a result of the EBT dispute with HMRC which goes back to a time before owning Rangers was even a gleam in his eye. Whyte has started to spin insolvency as drawing a line underneath the club’s longterm problems. His hints that he might not appeal a decision against Rangers in the First Tier Tribunal (FTT) could be a clue to his real strategy. To blame the previous regime at Ibrox requires that insolvency can be staved off until the judges sitting on the FTT return with their findings. However, Mr. Whyte will probably be mistaken if he thinks that the tribunal will return a result within a few days of it concluding. An insolvency event prior to that point would reveal the nature of the immediate problem: Rangers’ failure to qualify for the Champions’ League group stages. The arrestment of almost £3m by HMRC and Bain & McIntyre (ex-directors) intensifies matters. Readers of the replies section of this blog will be aware of the complicated permutations that face Whyte. Delaying an insolvency filing to beyond 60 days after an arrestment weakens the claims of a secured creditor (himself) to reclaim that cash. Delay also requires Whyte to up the ante and provide additional working capital. In return, his reputation would survive the mauling that would accompany a filing without an adverse result in the FTT to hide behind. Whyte also faces uncertainty over the timing of a response from the judges. If Rangers maintain a staunch defence to the end, it is possible that the FTT findings might not be published until February or March 2012. That would require pouring in more cash to survive to this point. (Surely Whyte would not countenance “throwing the game” in the last days of the tribunal to arrive at a speedy conclusion?) It is worth explaining cash flow for anyone who has not spent much time thinking about the monetary needs of a football club, it is extremely uneven. Cash accumulates over the summer months as season ticket holders renew in great numbers and drops over the autumn as players are paid their monthly salaries and bonuses. A good European run bolsters cash receipts in the short evenings and if post-Christmas European football is on the calendar, then a good season is had by all. Without significant European cash after September, Rangers (like Celtic) face a long period of outgoings being in excess of incoming cash. This funding gap can only be filled by a bank overdraft (short-term debt), a loan, or with the shareholders throwing in more equity. Traditionally, Rangers (and Celtic) have dipped into their overdraft facilities to pay wages and other bills during the months of negative cashflow. There is a problem this season however: Rangers do not have a credit facility with any bank. Since buying Rangers’ debt to Lloyds Banking Group (who were desperate to escape from the headache of being Rangers’ primary creditor), Whyte has failed to open another line of credit. It would appear that no bank wants to lend to a club facing crippling tax bills or one that has a fan base who will organise a boycott if it has the nerve to ask for its money back. (While discussing Rangers’ debt, a much forgotten fact is that Lloyds were not Rangers’ only creditor. An additional £4m in creditors is still on Rangers’ books bringing to total debt to about £22m when we include the money owed to the club’s parent company). 0 Quote Link to comment Share on other sites More sharing options...
thenolly Posted August 10, 2013 Share Posted August 10, 2013 It was 'red white and blue' and another said ' No Green in Rangers' Really hope the vote goes the right way next week. What vote, no vote has been planned, no vote has been agreed, no vote has been called, they had mentioned they were going to talk to the board to try to get a meeting (According to Graham Speirs), remember he is back as a "Consultant" so a paid member of the club like the cleaner, so tha role he can be removed from without a board meeting, what you's were told at the meeting the other night was to keep you's happy, its what you wanted to hear, that and Nova in an Orange kit, remember Chucki has the backing of another 20% of shares minimum (Between him and his investors they own 28%) of the club, he is riding shotgun cause he knows he can 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted August 10, 2013 Share Posted August 10, 2013 There are wealthy Rangers men willing to put millions into Rangers. The difference is they are not looking to bleed the club dry like Greenand Vo. Just seen this, still laughing. Give me a chance to catch up with this fantasy bollox. 0 Quote Link to comment Share on other sites More sharing options...
Apache Don Posted August 10, 2013 Share Posted August 10, 2013 You know, every time I see The Rangers' fans, I find myself in wonder at the fact, that clothing companies actually make sportswear in those sizes. We Are Total Pigs -1 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted August 10, 2013 Share Posted August 10, 2013 Not saying people are wrong about McColl not wanting to invest in Rangers but surely if he was then it would be in his interest to say otherwise till Green lowers his expectations? Just a thought as Green virtually drools every time he mentions McColls name. Well,yes. McColl is loaded and could shove a few million at you to stave off the inevitable. Will he? 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted August 10, 2013 Share Posted August 10, 2013 That Mr John McClelland (Non Executive Director) and Mr John Greig (Non Executive Director) both resigned as directors on 17 October 2011. 73. That shortly after the date of their resignation, Mr John McClelland was aware of rumours outside Rangers FC about late payment of taxes. These rumours increased in the course of November 2011 and became rumours of non payment of taxes. He did not discuss these rumours with any continuing director of Rangers FC or take any other action. 24 Hours Notice. 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted August 10, 2013 Share Posted August 10, 2013 We Abjure Tactical Parsimony. 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted August 10, 2013 Share Posted August 10, 2013 Why A Tax Probe? 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted August 10, 2013 Share Posted August 10, 2013 After Spivco are finished with the carcass. Spivco are running an operating loss of £10 million plus a season and looks like the club will be indebted some time before the season ends throwing it into possibly administration and once it exits it then the fleecing from the real Rangers men can commence buying a debt free club. Makes perfect sense to those wealthy fuckers who can't wait to spunk millions on a club debt free at that point,but will still have £10 million plus deficit for the next season if the same staff are still in their jobs because they took a pay cut till the next season tickets bonanza and then business as usual and the debt cycle continues. I don't think anyone will touch this club until it has reached the top tier so this could be fun to watch as Chucky and the gang are still in possession of their shares till then and then the price for them sky rockets . Only someone with £50 million they can piss into the wind can actually help this club till it reaches the Premiership and European footy so it becomes a viable profitable business,but no one will touch it with a shitty stick ! WHY ???. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted August 10, 2013 Share Posted August 10, 2013 Fat Sally - "I would be very, very hopeful we are not haemorrhaging money and going down the same road as we did before.” 0 Quote Link to comment Share on other sites More sharing options...
Apache Don Posted August 10, 2013 Share Posted August 10, 2013 That Mr John McClelland (Non Executive Director) and Mr John Greig (Non Executive Director) both resigned as directors on 17 October 2011. 73. That shortly after the date of their resignation, Mr John McClelland was aware of rumours outside Rangers FC about late payment of taxes. These rumours increased in the course of November 2011 and became rumours of non payment of taxes. He did not discuss these rumours with any continuing director of Rangers FC or take any other action. 24 Hours Notice. We all know McCoist is a lying turd. He's an absolute F---y of a man. Always has been. He just happens to be fat now too. -1 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted August 11, 2013 Share Posted August 11, 2013 Wanting A Television Partnership Wondering About The Profits Wanking And Typing Pish Worrying About Twatty Protestantism Willy At Torpid Preparation. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted August 11, 2013 Share Posted August 11, 2013 Who Are These People? 0 Quote Link to comment Share on other sites More sharing options...
Apache Don Posted August 11, 2013 Share Posted August 11, 2013 Thanks, I took a pic on my phone but could not be arsed looking. There will be no let up on this off the field shite till the other camp have 51% of shares, I do not think that will be coming any time soon unfortunately. Finally, we agree on something. Btw are you an XXXXL or a mere XXXL? Fat Bas--rd club. -1 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted August 11, 2013 Share Posted August 11, 2013 Will Ally Tell Porkies? Walter Accrues The Pay Winking And Taking Paycheques Waggling A Tiny Penis Wangling A Twelfth Parade 0 Quote Link to comment Share on other sites More sharing options...
Taxi for Ben Posted August 11, 2013 Share Posted August 11, 2013 Who Are These People? Who Attacks The Polis? (Polis: a state or society) 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted August 11, 2013 Share Posted August 11, 2013 We Are Totally Perspiring What A Terrible Pantload Why Afraid , Thistle Partick? Where Are The Prizes Whinging About The Premiership Willing Amnesia Towards Players Whyte As The Perpetrator Why's Ally's Taxi Premature? 0 Quote Link to comment Share on other sites More sharing options...
Apache Don Posted August 11, 2013 Share Posted August 11, 2013 (edited) Anonymous has been hoisted in to bed. ETA:- Fk I sound like an obesaphobe Edited August 11, 2013 by Apache Don 0 Quote Link to comment Share on other sites More sharing options...
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