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Big Rangers Administration/Liquidation Thread - All chat here!


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The non-publication of Rangers' accounts for the financial year to 30 June 2011 only adds to the lack of clarity regarding the takeover. Whyte claims to have provided £33m of his own money to clear the club's bank debts and fund the takeover. When proof of funds to buy the club was shown via a bank account belonging to Whyte's solicitors on 7 April last year there was just over £27m in place. Whether coincidence or not, that adds up almost exactly to the total of the bank debt, a promised £5m transfer kitty for the Rangers manager, Ally McCoist, another £2.8m tax payment due to HMRC and the £1.7m required for Ibrox infrastructure costs.

In a statement, Murray said: "The share purchase agreement imposed a number of obligations on Wavetower. These included the retention of £9.5m on behalf of the club for investment in the squad, expenditure on the infrastructure of the stadium and settlement of an agreed tax liability, together with the availability of working capital to fund the club's operations."

http://www.theguardian.com/football/2012/feb/17/craig-whyte-rangers-owner-scrutiny

Tbf i still can't decide whether Whyte or Murray is more responsible for what happemed.

It was rangers. Boardroom to stands. Or you could always blame the other cheek for making rangers overspend to compete. HTH.

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2nd Mohsni bid seemingly knocked back.

I think given our financial state we should be accepting any offers over £5M, he would be an irreplaceable loss and is obviously worth at least double that, but there you go.

Italy's in the Euro zone, you know, Tedi.

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A firm acquired by D&P and, I'm guessing, the previous employers of the blokes who did our administration.

You Rangers fans should be all over this.

If the fraud extends as far as the sale of assets by D&P then you should be campaigning to BDO to investigate and hopefully have the assets transfered back to Rangers FC.

Edited by stonedsailor
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You Rangers fans should be all over this.

If the fraud extends as far as the sale of assets by D&P then you should be campaigning to BDO to investigate and hopefully have the assets transfered back to Rangers FC.

I think the Rangers fans are content to blame everything on Craig Whyte, regardless of whatever countervailing evidence there may be, and to then hope that somebody else does something about it for them without them having to lift a finger.

Given everything we've heard about the sheer dodginess of Whyte and co in the press, I wouldn't be surprised if somebody else does do something about it. At which point the same fans who sat about doing nothing will pronounce it a massive victory for Rangers, totally absolving them of blame, and one in the eye for the rest of Scottish football.

Which it won't be, of course - it'll be responsible people trotting dutifully around after Rangers old and new with a mop, a dustpan and a brush like they were an incontinent little puppy. Which they kind of are.

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