Rangers to enter administration

[birdieman]

Maybe the thousands of Rangers fans in Dundee, Aberdeen, Inverness, Edinburgh, Perth, Greenock, Kilmarnock etc etc will actually support their local team when Gers disappear?

That could mean an evenly matched smaller scale football league where several teams could win something and pro players are paid normal wages like £500/week. That would be sustainable.

Future business name for Gers when they fold and reform - Dynamo Glasgow?

 

[AuburnWarrior]

Sad, sad news. My team have been in administration and it's anything but pleasant.

I wish Rangers well.

 

[Iaing]

Mon the Killie...

:thup::clap:

Wonder if the Gers supporters will be singing God Save The Queen from now on in light of what Her Majesty's Revenue officers are doing to their club.

 

[Dodger]

 

[Dodger]

:rofl::rofl::rofl:

 

[In_The_Rough]

While some of the comments and fun poking are rather amusing it is never good when a club is in that much financial trouble whether it be Rangers,Portsmouth etc. So hope they get it sorted out as a Football club with the history they have should not be going to the wall

 

[Mungoscorner]

I wonder how many will turn up at the Midden when the big local derby match is against the Jags ? Cannae live with us,very unlikely you'll survive without us.

 

[Val]

I wonder how many will turn up at the Midden when the big local derby match is against the Jags ? Cannae live with us,very unlikely you'll survive without us.

Dont bet on it

The way I see it Rangers for the last 10 years have defrauded the taxman more every season than St Mirren turnover as a club.

Do I feel for their fans? Some yes, but absolutely not for those who have stuck their head in the sand and blamed everyone else for their problems. You reap what you sow.

It's all a timmy conspirancy.

The blame for this lies firmly at David Murrays door, he used Rangers to massage his ego and left others to carry the can when it failed, Hugh Adam warned Rangers 10 years ago this would happen when he walked from the club and now it's came to fruition.

Many Rangers fans slagged Fergus Mcccann off for trying to turn Celtic Football Club into a proper business, Fergus had the right vision and Celtic have a business model that should see them in firm financial footing for a long long time, with or without Rangers.

Sad day for Rangers and Scottish football however Scottish football WILL survive without them.

 

[NWJocko]

Dont bet on it

The way I see it Rangers for the last 10 years have defrauded the taxman more every season than St Mirren turnover as a club.

Do I feel for their fans? Some yes, but absolutely not for those who have stuck their head in the sand and blamed everyone else for their problems. You reap what you sow.

It's all a timmy conspirancy.

The blame for this lies firmly at David Murrays door, he used Rangers to massage his ego and left others to carry the can when it failed, Hugh Adam warned Rangers 10 years ago this would happen when he walked from the club and now it's came to fruition.

Many Rangers fans slagged Fergus Mcccann off for trying to turn Celtic Football Club into a proper business, Fergus had the right vision and Celtic have a business model that should see them in firm financial footing for a long long time, with or without Rangers.

Sad day for Rangers and Scottish football however Scottish football WILL survive without them.

Some good points.

Murray got out toot sweet about 10 years ago when the smelly stuff was about to hit the fan and McClelland (?) I think was left to deal with it.

I am not a fan of either of the Old Firm (Mighty Dons for me ), I think it would affect Celtic but by how much I'm not sure.

i.e. haven't the short sponsorships been agreed on the basis of both Rangers and Celtic the last few times they've had to renew?

As sad as it is for the club, I can't help but have a warm feeling inside after 20-odd years of the teddy bear fans gloating over everyone else.

Those Rangers fans should also remember they were hardly sympathetic when Celtic were on skid row before Fergus McCann came in...............

 

[In_The_Rough]

If Rangers do fold(unlikely)then the SPL will be a 1 horse race for god knows how long, just can't see any sponsors/TV companies being intrested in this TBH. Being English I watch around 4 SPL games per season have a guess which 4 they are. Take this away and I am sure loads of non Scottish fans will be the same view. Without Rangers Scottish football will suffer how much I dont know.

 

[Tommo21]

I personally don’t give a fig. Rangers without Celtic, I’ve got to laugh, one won’t last without the other. Is that not the same for all the other clubs in Scotland, it’s been nothing but Rangers and Celtic for years. So lets just have Celtic, it makes no difference to all the other teams as they wont be first.

The days of Aberdeen, Dundee Utd or any other team coming into it have long gone.

Big fish, small pond.

 

[Val]

What I fail to see is why is it unlikely for Rangers to fold? Their debts potentially are over £100m, they are expected to see a tax bill of over £75m on top of existing debts, Rangers could easily fold but Craig Whyte isn't daft, he is going through this now for good reason at worst case Rangers fold and disappear, best case is all creditors agree to take less and the do not enter admininstration at all (unlikely).

The next 2 or 3 weeks are crucial for Rangers.

 

[Val]

I personally don’t give a fig. Rangers without Celtic, I’ve got to laugh, one won’t last without the other. Is that not the same for all the other clubs in Scotland, it’s been nothing but Rangers and Celtic for years. So lets just have Celtic, it makes no difference to all the other teams as they wont be first.

The days of Aberdeen, Dundee Utd or any other team coming into it have long gone.

Big fish, small pond.

Interestingly enough, 1 big fish in a small pond may be easier to intigrate into a bigger pond than 2 big fish (if you catch my drift )

 

[HomerJSimpson]

I've nothing against either Celtic or Rangers and its hard as we're only drip fed titbits down here until the big story like today breaks. What it seems to me and I may be well off the mark is that if one goes they'll all go, perhaps not into administration but certainly into a pretty poor league on the level of some of the smaller nations in Europe. That has to be a tragedy as the recent games I've seen, the U21 side the Scots are putting together in particular looks good and plays some top drawer stuff. If the players are playing sub-standard footie they won't stay but will they then get the games elsewhere. If the U21's go backwards then the first team won't have any raw talent coming through either.

I hope whatever needs to be done gets done and that Rangers can get their house in order. That said, where does the future lie for the Scottish PL. It doesn't say much if Rangers take a 10 point hit and can still be in 2nd place. No revenue from TV (or enough) and certainly not enough from elsewhere. Sad times

 

[NWJocko]

Interestingly enough, 1 big fish in a small pond may be easier to intigrate into a bigger pond than 2 big fish (if you catch my drift )

I had the very same thought Valentino.

Both having been looking for an opportunity for years to get into the EPL, Celtic may see this as a good opportunity........

Aberdeen would still win hee haw though!!

 

[Dodger]

I think up here some people have been reading too much into mentions of Rangers owing HMRC up to £75m. For clarity, the big tax case, with penalties and interest, could reach approximately £50m, but that is not the end of the story.

There is the wee tax case, the potential VAT liability relating to the income from Ticketus and VAT due each quarter. Then there is Pay As You Earn (PAYE) and National Insurance (NI). With the lack of financial information from Rangers barring this “£75m” statement, it’s possible VAT, PAYE and NI are delinquent.

Add this lot up and you can easily see why the taxpayer could be looking at a £75m hit, Rangers did not link this figure with the big tax case alone. I’ll leave it up to Craig Whyte’s next interviewers to ask how much of this figure has been incurred under his stewardship.

And remember, we’re only talking about HMRC debt here, don’t forget about the police, Glasgow City Council, utility suppliers and a multitude of small local businesses!!!!!

Whyte,I feel, is doing this so that he gets paid as a preferred creditor.​

 

[USER1999]

Can't see why either should be in the epl. The scots wanted to go on their own, in so many ways, why should the epl take any of them?

My issues with any footy club going bust is exactly that, they should go bust. I pay taxes, why should they get away with not doing so? There is no reason to reduce the tax bill. Seize the assets, sell the players, pay the tax bill. Why should I pay more tax to keep a footy team going, so the players can earn many times my annual salary in one week?

 

[jpenno]

I think up here some people have been reading too much into mentions of Rangers owing HMRC up to £75m. For clarity, the big tax case, with penalties and interest, could reach approximately £50m, but that is not the end of the story.

There is the wee tax case, the potential VAT liability relating to the income from Ticketus and VAT due each quarter. Then there is Pay As You Earn (PAYE) and National Insurance (NI). With the lack of financial information from Rangers barring this “£75m” statement, it’s possible VAT, PAYE and NI are delinquent.

Add this lot up and you can easily see why the taxpayer could be looking at a £75m hit, Rangers did not link this figure with the big tax case alone. I’ll leave it up to Craig Whyte’s next interviewers to ask how much of this figure has been incurred under his stewardship.

And remember, we’re only talking about HMRC debt here, don’t forget about the police, Glasgow City Council, utility suppliers and a multitude of small local businesses!!!!!

Whyte,I feel, is doing this so that he gets paid as a preferred creditor.​

Not sure I understand how Whyte thinks he will get paid HMRC are preferential creditors, the First team squad arent worth £7.50 let alone £75million.

The bank debts will be secured on the ground and his floating charge wont take priority, maybe he is aware of some other assets he wants to realise before the administrators get in.

Could be serious problems for the local authority and local businesses if they dont get paid

 

[Val]

Not sure I understand how Whyte thinks he will get paid HMRC are preferential creditors, the First team squad arent worth £7.50 let alone £75million.

The bank debts will be secured on the ground and his floating charge wont take priority, maybe he is aware of some other assets he wants to realise before the administrators get in.

Could be serious problems for the local authority and local businesses if they dont get paid

HMRC aren't preffered creditors as there is no firm debt yet and the "wee case" already has money ringfenced, Craig Whyte will be the preffered creditor as he cleared the bank debts and that is why he could easily secure the current assets and start a "new" Rangers.

Lots to run and lots of speculation but interesting times ahead.

 

[jpenno]

Didnt realise he had discharged the bank debts, I thought he had just assumed liability for them when he paid his £1 to buy the club.

Cant see HMRC writing off their cash without a fight to set aside any disposition of the assets at an undervalue.