Rangers Football Club going into administration

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  • Rangers Football Club going into administration
  • whatnobeer
    Member

    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.

    http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/

    http://www1.skysports.com/football/news/11788/7518679/Gers-to-go-into-administration

    Premier Icon wwaswas
    Subscriber

    sound slike a bit of a tax dodging measure?

    Portsmouth going into admin as well.

    whatnobeer
    Member

    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!

    Premier Icon martinhutch
    Subscriber

    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.

    Premier Icon BoardinBob
    Subscriber

    10 point penalty

    Premier Icon binners
    Subscriber

    They need to get ‘Arry in. He’ll sort it ๐Ÿ˜‰

    Junkyard
    Member

    they wont wind up rangers will they surely

    SAD DAY

    Dr_Bakes
    Member

    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!

    whatnobeer
    Member

    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.

    davidjones15
    Member

    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?

    Gary_M
    Member

    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.

    jota180
    Member

    WTF will half the bigots in Glasgow now do of a Saturday afternoon?

    whatnobeer
    Member

    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.

    davidjones15
    Member

    Agreed, I felt the same when Woolworths went down. ๐Ÿ™

    Oh well, Partick Thistle can always expand their stadium to 60,000

    whatnobeer
    Member

    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.

    jota180
    Member

    Won’t all the fans just be able to nip across the city and watch their football at Parkhead?

    Ho hum
    Member

    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?

    project
    Member

    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.

    Premier Icon seosamh77
    Subscriber

    For me personally their liquidation will be a great day. ๐Ÿ™‚ today’s not too shabby either mind!

    Premier Icon seosamh77
    Subscriber

    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.
    aye and cheating their way to league wins with the tax mans money is much more dignified eh…

    Premier Icon MSP
    Subscriber

    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.

    jota180
    Member

    Pompey players were throwing their shirts into the crowd to thank the fans

    all 11 of them ๐Ÿ™‚

    CaptJon
    Member

    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.

    wrecker
    Member

    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?

    Ho hum
    Member

    If it was set up by Murray then hopefully HRMC will chase him for the balance of any tax owed.

    Premier Icon Nobeerinthefridge
    Subscriber

    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. ๐Ÿ˜‰

    project
    Member

    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.

    Premier Icon seosamh77
    Subscriber

    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-POSTNo 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.

    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.

    Premier Icon Nobeerinthefridge
    Subscriber

    That’s the term ‘death knell’ been mentioned twice in one thread!, surely a first.

    Premier Icon seosamh77
    Subscriber

    Or a sign! ๐Ÿ™‚

    Premier Icon Nobeerinthefridge
    Subscriber

    Yes, a sign that there are now 2 daily mail readers on the thread now!

    Three times… Now four.

    whatnobeer
    Member

    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.

    Premier Icon seosamh77
    Subscriber

    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)

    What Rangers really need is a Fergus McCann.

    Premier Icon seosamh77
    Subscriber

    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.

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