ColchesterFC
Journeyman Pro
I thought they still played at Ibrox. Did the new Rangers owners buy the stadium back?
Good Luck Rangers
- Thread starter Doon frae Troon
- Start date
FairwayDodger
Money List Winner
They bought the club and all its assets, including the stadium.
Beezerk
Money List Winner
It's only the holding company which is different as far as I'm aware. Ranger are Rangers but with different owners.
ColchesterFC
Journeyman Pro
Any idea on how much they paid for it? Can't imagine buying a football ground can be cheap. If a new stadium for Liverpool was going to cost 6 or 7 hundred million even a second hand one must be a couple of hundred million.
Foxholer
Blackballed
£5.5M I believe!
StuartD
Tour Rookie
A whoping 5.6 million for everything including stadium and training ground. This price was agreed with Charles green before the CVA was rejected. After the CVA was rejected there was another higher offer made bud was rejected by the Administrators. The 5.6 million just covered the Administrators fees, who then bolted with the cash. The whole transaction is being investigated by both the Police and the BDO (the company in charge of the liquidation of the oldco)
ColchesterFC
Journeyman Pro
Can understand why it's being investigated if that is true. Don't know what the current cost of land in/around Glasgow is but surely they could've sold the stadium and training ground for housing and got a hell of a lot more than £5.5 million.
FairwayDodger
Money List Winner
Guess you've never been to Ibrox then. Certainly no value in a housing development there, especially in the financial climate over the last few years.
ColchesterFC
Journeyman Pro
Nope, never been there. Just assumed that maybe half a dozen 10 storey blocks of flats could fit on the site and then a load of house on the training ground. No idea what part of Glasgow either the stadium or the training ground is in. Did go to a place that I think was called Shots which is somewhere around Glasgow as that's where my grandmother was born and hired a car to take her back there when she visited me at uni to try to find the house she was born in but that's the limit of my knowledge of the area.
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FairwayDodger
Money List Winner
I seriously doubt there would be a market for flats there. Plus the main stand of the stadium is a listed building so fairly limited redevelopment options.
I'm not entirely sure where the training ground is so can't really comment on that aspect.
U
User62651
Guest
When Rangers were liquidated I think I'm right in saying that all players contracts were void, that's why some walked away off to England and other countries (Naismith/Whittaker/McGregor etc).
If that is the case why were the contracts of remaining players not reset at a sensible level for lower division football, having the second highest wage bill of any club in Scotland when you're basically broke and unable to draw much tv money or sponsorship seems unbelievable and if they do go under permanently then they've themselves to blame.
I hate the way businesses that go under can get round the taxman and leave all their creditors high and dry via CVA's. This is not a dig at Rangers but the overall situation - IMO All assets of Rangers should have been sold at a market value to pay off as many creditors as possible before any consideration to a football club continuing. It seems the old Rangers owed £80 million (widely varying figure) to countless other parties whilst the club now continues with most of its original assets intact and those suppliers carry the loss - could that happen in any other business? If I'd supplied goods to Rangers 2 year ago and was told the money wouldnever be forthcoming whilst the club plays over the top wages and trips to fancy hotels etc I would be livid.
If that is the case why were the contracts of remaining players not reset at a sensible level for lower division football, having the second highest wage bill of any club in Scotland when you're basically broke and unable to draw much tv money or sponsorship seems unbelievable and if they do go under permanently then they've themselves to blame.
I hate the way businesses that go under can get round the taxman and leave all their creditors high and dry via CVA's. This is not a dig at Rangers but the overall situation - IMO All assets of Rangers should have been sold at a market value to pay off as many creditors as possible before any consideration to a football club continuing. It seems the old Rangers owed £80 million (widely varying figure) to countless other parties whilst the club now continues with most of its original assets intact and those suppliers carry the loss - could that happen in any other business? If I'd supplied goods to Rangers 2 year ago and was told the money wouldnever be forthcoming whilst the club plays over the top wages and trips to fancy hotels etc I would be livid.
StuartD
Tour Rookie
They couldn't be reset. Players had the chioce to walk away and leave, or under TUPE regulations transfer to the Newco at the same terms and conditions. Unless the players who stayed offered to take a pay cut (some did) there contracts had to be honoured at their current rate
Foxholer
Blackballed
You have answered your own question! It can and does - and can send other businesses to the wall too!
I'm sure there are, indeed, plenty of livid folk out there!
Alan
Assistant Pro
No they aren't they are a complete new entity. The last club was liquidated.
chris661
Money List Winner
BoadieBroadus
Q-School Graduate
There was no such thing as a "holding company" there was just the company which owned the stadium, the players contracts, the badge, the training ground etc in fact everything that had ever constituted "rangers." It used to be a legal entity known as a "club" in the late 1800's which was owned by its members.
This club then incorporated into a company and the club ceased to exist as any legal entity, it had become a company instead. Its members legally became shareholders.
This company was liquidated in 2012 and the shareholders then owned nothing. At which point an ethereal entity known as a club was conveniently invented and was assumed to have some sort of legal basis as people erroneously started talking about "holding companies." In reality the "club" was just a fond memory of a business that people had kept in their hearts and pretended had not ever been incorporated.
If the club had been liquidated during the season there would be much less talk of holding companies that never existed.
U
User62651
Guest
Could they not get rid of the overpaid under-performing players on breach of contract/gross misconduct evidenced by yesterday's poor show
. Joking aside I seriously hope if Rangers get sorted out and start making a profit in a few years via CL money or a Russian/Arab owner that they'll think about paying back some of those they owed before liquidation and not be too quick to wheel out the 'it's a different company to back then so we owe nothing' yet at the same time claiming 'we're the same Rangers FC since 1872' - I understand Rangers FC has proud standards/morals and that would be an opportunity to prove it. Alas I can't see it.
D
Deleted member 15344
Guest
Foxholer
Blackballed
The 'business history and assets' of the Club were sold to Sevco.
Would someone like to explain what else makes up the Club?
Would someone like to explain what else makes up the Club?
hoop67
Assistant Pro
Aye,sure they did !!!Could they not get rid of the overpaid under-performing players on breach of contract/gross misconduct evidenced by yesterday's poor show
Joking aside I seriously hope if Rangers get sorted out and start making a profit in a few years via CL money or a Russian/Arab owner that they'll think about paying back some of those they owed before liquidation and not be too quick to wheel out the 'it's a different company to back then so we owe nothing' yet at the same time claiming 'we're the same Rangers FC since 1872' - I understand Rangers FC has proud standards/morals and that would be an opportunity to prove it. Alas I can't see it.
