Not that many football fans on here, but Rangers have apparently lodged papers to appoint an administrator. Never good to see a football club going out of business, especially one of the biggest and most successful clubs in the country.
[url= http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/ ]http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/[/url]
[url= http://www1.skysports.com/football/news/11788/7518679/Gers-to-go-into-administration ]http://www1.skysports.com/football/news/11788/7518679/Gers-to-go-into-administration[/url]
sound slike a bit of a tax dodging measure?
Portsmouth going into admin as well.
Yup, the rumours are that the tax case verdict was due, so it looks like its gone in favour of HMRC. The way the club is set up, it might allow them to ditch the debt that will be owed and start again. All very dodgy and a great shame. That said, clubs shouldn't be trying to avoid paying their taxes in the first place!
What's the points penalty in Scotland?
Does administration actually protect you from HMRC? My impression was that they generally go the extra mile to get their pound of flesh, including winding up orders.
10 point penalty
They need to get 'Arry in. He'll sort it 😉
they wont wind up rangers will they surely
SAD DAY
It says a lot of the league that a ten point deduction still keeps them in second position, nine points ahead of the team in third!
Yup, 10 point deduction as soon as they go into administration, which will happen in the next 5 days if they intend to go through with it, rather than this just being preparation for losing the tax case.
I think the way the chairman had it set up is that he is the sole preferred creditor (is that the right phrase?), so HMRC would only get a % of whats left, if they're able to go down that route.
Never good to see a football club going out of business, especially one of the biggest and most successful clubs in the country.
Why? They're businesses now and run, or should be run, like any other business. If they are mis-managed, they fail. Not hard, is it?
10 points deduction means they drop to er, 2nd place in the league and still 9 points clear of 3rd.
I'm sure whilst many celtic fans will be laughing at the misfortune of rangers it's a poor way to win the league.
WTF will half the bigots in Glasgow now do of a Saturday afternoon?
Why? They're businesses now and run, or should be run, like any other business. If they are mis-managed, they fail. Not hard, is it?
Because its not the fans or the staff who work at the clubs fault. Its the money men and the guys in suits. Their decisions will have caused hundreds of people to lose their jobs and hundreds of fans to lose possibly lose the club they love.
Agreed, I felt the same when Woolworths went down. 🙁
Oh well, Partick Thistle can always expand their stadium to 60,000
Pompey have filled for Administration as well by the looks of it.
The official statement released by the clubs makes it sound very bleak in the long run. HMRC will "appeal, appeal and appeal" again if they lose the tax case.
Won't all the fans just be able to nip across the city and watch their football at Parkhead?
More tax evasion by the scumbag millionaires of this country!
Surely they should be forced to sell their assets in order to pay creditors.
Maybe football clubs will start paying what they can afford. I feel that the Scottish clubs would still bring in money if even without the big names (pay packets). OK so europe would be off the cards and TV royalties but is that what the die hard fans want?
Whats the diference between woolworths, Peacocks,Ponden mill,Powerhouse,Jane Norman, Oddbins,MFI, Focus diy and lots more high street shops gouing bust as opposed to some football club.
Answer the staff get paid considerably more for a lot less effort and actual hours worked, a lot more will be following them soon, football clubs that is.
Lots of nice prime sites easily deveoped by the supermarkets or out of town shopping centres.
For me personally their liquidation will be a great day. 🙂 today's not too shabby either mind!
aye and cheating their way to league wins with the tax mans money is much more dignified eh...10 points deduction means they drop to er, 2nd place in the league and still 9 points clear of 3rd.I'm sure whilst many celtic fans will be laughing at the misfortune of rangers it's a poor way to win the league.
Pompey players were throwing their shirts into the crowd to thank the fans, they haven't been payed for 2 months, and had to pay for the shirts themselves as the club couldn't afford them. The support actually means something to a lot of the players.
Pompey players were throwing their shirts into the crowd to thank the fans
all 11 of them 🙂
Pompey fan here. Really feel for Rangers fans. It is a sad day when it looks like the club you love could cease to exist.
It is even more galling in the week after Redknapp was let off for his tax dodge and is lauded all over the place as the saviour of England. He wasn't solely to blame, but he played a big part in getting PFC into the financial position we're in today.
Was it not the previous owner Sir David Murray who set up the tax dodge? Wonder if he'll be stripped on his knighthood.
The death knell for Scottish football surely? It's boring enough with the same 2 teams competing for the honours year after year. Only 1 would make for the least exciting league in the world.
To call it a death knell is a bit over the top. Do you read the Daily Mail per chance?
If it was set up by Murray then hopefully HRMC will chase him for the balance of any tax owed.
Sad day indeed. This has been hanging over us for a very long time now, and was inevitable, tbh. It looks as if the new owner is trying to guide the club through the carnage left by the previous regime avoiding any fatal damage. Hopefully, he knows what he is doing, and we come out the other side a healthier, more well managed club.
Seosamh77, have your day, We'll be back. 😉
Pompey players were throwing their shirts into the crowd to thank the fans, they haven't been payed for 2 months, and had to pay for the shirts themselves as the club couldn't afford them. The support actually means something to a lot of the players.
Who would want a sweaty, mud covered shirt, worn by some player for an hour and half.
Why didnt they wash them and donate them to to some street sleeper, to keep warm.
No chance, the debt is solely rangers fc's. Sounding like they are about 100m in debt all in total from my calculations.. The death knell is on the cards. Basically this announcement is their last ditch attempt at a negotiation with the tax man, who is refusing to budge. This is more or less an admission that the tax case is lost if you ask me, and they can't pay that bill. I'd also be surprised if the tax man budges, as for them I don't think this is about rangers. It's a test case and all about setting a precedent to go after English teams for a much bigger pot.Ho hum - Member
If it was set up by Murray then hopefully HRMC will chase him for the balance of any tax owed.POSTED 3 MINUTES AGO # REPORT-POST
Pure conjecture on my part, but that's my sense of it all.
Fc rangers will be coming to a ground near you soon enough.
That's the term 'death knell' been mentioned twice in one thread!, surely a first.
Or a sign! 🙂
Yes, a sign that there are now 2 daily mail readers on the thread now!
Three times... Now four.
The option of a using a phoenix company may come to pass if it really does go all tits up in a worst case scenario. In that case you'd just have hope that the rest of the SPL arent short sighted enough to block re-entry to the league. If the club were to disappear totally it would have major implications for the rest of the league.
Yip, more teams will go bust not a bad thing if you ask me. The arms race that rangers started is unsustainable and getting more so as time goes by. IMO it is probably best that the whole thing does go tits up. Yes it's staring into the abyss, but come on its hardly great at the moment. Let the cards come tumbling down and reorganise with what's left. (which will include rangers in whatever form, I'd make them work their way up just for laughs)The option of a using a phoenix company may come to pass if it really does go all tits up in a worst case scenario. In that case you'd just have hope that the rest of the SPL arent short sighted enough to block re-entry to the league. If the club were to disappear totally it would have major implications for the rest of the league.
What Rangers really need is a Fergus McCann.
Difference there is our debt was 9m. And we were totally underdeveloped as a club. Fergus would struggle to sort rangers mess. Need 100m + before a baw is kicked. Craig whyte was supposed to be their fergus.
There was also a lot less money in football back then. Adjusted for (football) inflation I'd say that the debts are around the same. I dont like either team btw.
Nah. At rangers height the most expensive player was 12m. We've not spent more than 6m since Hartson Sutton etc. 100m is a shitload in Scottish fitba terms. Scottish fitba has been deflating since 2005/6ish. Something that is measurable in numerous ways. Fairly obvious that we won't let ourselves get much beyond 10m in debt, currently 7m.
Where are you getting the 100m figure from? As far as I can see Rangers have 18m of debt to Whyte, plus a potential 50 odd million from the tax case. A long way off 100 million, although still a huge sum, and one they could never pay.
The problem is always going to be the lure of European football, and that to compete there you need a better standard of player than you need for SPL success. Rangers tried to buy that success, and thats mostly whats left them in this situation. Until the wages and transfers in football are capped teams in Scotland will never be able to compete with the large teams in England, Spain, Germany and Italy. If wages and fees are capped then smaller teams should be more able to compete.
Tax case is 49m +fees(rumours of 75m total) + wee tax case + 24m owed to ticketus + 18m owed to whyte + whatever else is missing, rumours of 5m vat and im sure the will a few millions more owed. So somewhere in the region of 75m to 100m+ whatever way you look at it. Clearly I'm happy to speculate at the high end! 😉 Doesnt really matter mind, youse are struggling to pay ticketus alone.
I for one would not want to be anywhere near Glasgow on the day one of the Old Firm clubs was wound up. The thought terrifies me. Think of the riots there would be.
