The Rangers

Val said:
Let me throw a curve ball.

Lots of anger thrown at Green and Whyte and rightly so but lets not forget that had Murray not mad the pigs ear of the finances he did trying to massage his overly inflated ego, Rangers would still be in the top flight, fighting tooth and nail for the title and Scottish football MAY be a bit more rosier than it is now.

Green and Whyte fleeced the creditors and fans after the share issue and should rightly pay a long visit to the big hoose but MURRAY is the guy to blame for it all IMO.
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Agreed, although by the time Murray sold up the debt was manageable and they had cut their cloth to live within their means. Especially once the big tax case was won. Problem was whyte expected to lose that and, IMO, deliberately put them into administration to get out from under the debts and pave the way for him and his mates to make millions.

Hopefully the truth will come out in court eventually but sounds like we might be s few years from the end of it yet.
 
FairwayDodger said:
Agreed, although by the time Murray sold up the debt was manageable and they had cut their cloth to live within their means. Especially once the big tax case was won. Problem was whyte expected to lose that and, IMO, deliberately put them into administration to get out from under the debts and pave the way for him and his mates to make millions.

Hopefully the truth will come out in court eventually but sounds like we might be s few years from the end of it yet.
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Any trial that takes place will be next year at the earliest.

It will be interesting to see which one of them "turns state" first and tries to lay the blame on the others.

You know what they say about honour and thieves...
 
Rangers were pretty much debt free when Murray sold up (£6.5mill from memory). Easily manageable for a club the size of Rangers.

Lloyds forced the sale of the club due to the possible financial exposure to the 'big tax case'.

HMRC refused to negotiate a settlement on the potential tax owed, (probably regretting it when they lost the case) despite doing this with quite a few other clubs (Heart of Midlothian springs immediately to mind). Were they using it as a possible test case before going after others?


Police are investigating a possible link between Whyte, Green and the administrators over the subsequent administration and sale of the club to Green.



The above are generally regarded as established facts. Below is a general observation.


Nothing to do with the PL in England, celtic, the Irish or Liverpool etc. ;)

Just saying like. :)
 
c1973 said:
Rangers were pretty much debt free when Murray sold up (£6.5mill from memory). Easily manageable for a club the size of Rangers.

Lloyds forced the sale of the club due to the possible financial exposure to the 'big tax case'.

HMRC refused to negotiate a settlement on the potential tax owed, (probably regretting it when they lost the case) despite doing this with quite a few other clubs (Heart of Midlothian springs immediately to mind). Were they using it as a possible test case before going after others?


Police are investigating a possible link between Whyte, Green and the administrators over the subsequent administration and sale of the club to Green.



The above are generally regarded as established facts. Below is a general observation.


Nothing to do with the PL in England, celtic, the Irish or Liverpool etc. ;)

Just saying like. :)
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Rangers did indeed get their debt down to around £6m at one point but the Le Guen experiment pushed it back up to nearly £30m and it was around £20m at the time of the sale to Whyte, hence the Ticketus deal for that amount to pay off the bank.

http://www.telegraph.co.uk/sport/football/teams/rangers/9097072/Craig-Whyte-admits-he-lied-over-Ticketus-deal-for-Rangers-takeover.html

Edit: figure quoted here is £18m to the bank.
 
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Correct Gerry £18m to Lloyds, a Very good friend of mine was adamant that Bain, Murray and King also tried to get the club on the cheap pre Whyte.
 
Correct. It was £6.5mill a couple of years before he sold.....I did say 'from memory' though. Sometimes it does fail me. :)

Anyway, done to death, so I'll be getting out now. :)
 
Doon frae Troon said:
............and just when we thought it was all over :o
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Awe naw - Ally's back?

Ach - it's only that HMRC have won their case against Rangers and their use of EBTs. Please no - don't tell me The Big Tax Bill is back. Just when we thought the world was recovering after armageddon. No matter - seems like Rangers wont have to pay the taxman anything.
 
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Until they strip them of the cheated trophies there is little benefit to today's findings.

The oldco don't exist therefore nothing transfers onto the newco. Only losers in the whole sordid affair are the creditors of oldco.
 
Jacko_G said:
Until they strip them of the cheated trophies there is little benefit to today's findings.

The oldco don't exist therefore nothing transfers onto the newco. Only losers in the whole sordid affair are the creditors of oldco.
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Although it scuppers Dave Kings plan to pay all debts and bring back oldco.

Not so keen on the stripping trophies carry on, it achieves nothing.
 
Val said:
Although it scuppers Dave Kings plan to pay all debts and bring back oldco.

Not so keen on the stripping trophies carry on, it achieves nothing.
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They cheated the system once when they were relegated and allowed back into the bottom tier of Scottish football without meeting the entry criteria. SFA has already shown that cheating is acceptable so I hold no hope of seeing justice done.

Cheating is acceptable obviously. Lets relate that to golf. Would you play a monthly medal with a known cheat?
 
Jacko_G said:
They cheated the system once when they were relegated and allowed back into the bottom tier of Scottish football without meeting the entry criteria. SFA has already shown that cheating is acceptable so I hold no hope of seeing justice done.

Cheating is acceptable obviously. Lets relate that to golf. Would you play a monthly medal with a known cheat?
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Ach well - they might not have to pay the taxman any of what oldco owe, and they may well claim oldco's titles and trophies - but they are still shipping money by the bucket-load - £7.5m loss this year, better than £8.1m last year mind. Not quite getting how they are being allowed to do this given oldco omnishambles, oldco paying way over the odds (and illegally not paying tax due) - yet can still rack up such losses in striving to get into the Scottish Premiership - no doubt paying way over the odds to their players along the way. Ah well. That's how it is I suppose.
 
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