Generic Sevco / Rangers meltdown thread

**ancienthibby** · 13-02-2012 06:32 PM

Originally Posted by crabis

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Not sure about that - Whyte is in no position to gain from this.

I actually suspect that it is Murray's plan - to get Whyte to take the club into administration so that he can come back in and buy the club from the administrator.

Nah.

Murray's other companies are in too much deep doo-doo to allow him to even contemplate that!

***neilmartinrocks*** · 13-02-2012 06:34 PM

Originally Posted by banarc7062

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Is this the same team that considered moving to join the English Premier league no so long ago?

yep!! the very same
the E.F.A. didnt want them and the police didnt want them either.

**sahib** · 13-02-2012 06:36 PM

I have been trying to follow the Rangers recent financial woes but I am confused. As I understood it Whyte is now the major creditor, even though he appears to have paid off the bank (who were the biggest creditor) with season ticket "futures". If the tax bill comes in and they go into liquidation, the HMRC don't have first dibs- as one would assume- but Mr Whyte. In his position a less honourable man might welcome that outcome as now he could trouser any mullah that can be realised by sale of the assets i.e. Ibrox and environs, Murray Park etc. And since he paid nothing for the club and bought the debt with the clubs own future income, anything he gets is pure profit.

Administration, I would have thought, could scupper this perfect scam.

Where have I gone wrong here?

***Gettin' Auld*** · 13-02-2012 06:37 PM

What does the typical hun think of David Murray?

Find out here................http://forum.rangersmedia.co.uk/inde...t&p=1059764274

**EasterRoad4Ever** · 13-02-2012 06:42 PM

Originally Posted by banarc7062

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As a secured creditor I am sure Craig Whyte will have his personal interes well protected and will have first claim on any assets

I've always thought the taxman took precedence over all other creditors including secured ? ??

***Hermit Crab*** · 13-02-2012 06:42 PM

Get talksport on by the way. Getting torn into rangers and hearts about the situation. Very good listen

**At The Edge** · 13-02-2012 06:45 PM

Originally Posted by Gettin' Auld

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What does the typical hun think of David Murray?

Find out here................http://forum.rangersmedia.co.uk/inde...t&p=1059764274

from the thread, pure comedy gold...............

"There has to be some of campaign to get this man stripped of his knighthood, if it can happen to Goodwin The Queen really should take a look at this."

***SteveHFC*** · 13-02-2012 06:45 PM

**DH1875** · 13-02-2012 06:45 PM

Don't know why so many people are getting so excited by all this. The likes of Motherwell and Dundee have shown that administration means nothing and even with a 10 point deduction Rangers will still walk 2nd place. Forget administration, it's liquidation that we want.

***Hermit Crab*** · 13-02-2012 06:46 PM

Originally Posted by Gettin' Auld

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What does the typical hun think of David Murray?

Find out here................http://forum.rangersmedia.co.uk/inde...t&p=1059764274

They seem to be forgetting about the millions he pumped into the club out his own pocket

***SteveHFC*** · 13-02-2012 06:48 PM

***Arch Stanton*** · 13-02-2012 06:48 PM

Originally Posted by ancienthibby

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Nah.

Murray's other companies are in too much deep doo-doo to allow him to even contemplate that!

But a debt free Rangers would be pretty profitable and risk free.

**~~PaulSmith~~** · 13-02-2012 06:50 PM

Rangers current debts to the big guys:

HMRC - quoted now £75m
Ticketus - £20m
Craig Whyte - £18m

Over £100m, just hold that thought. £100m and Whyte is the only secured creditor.

If I'm reading this right then the CVA requires HMRC to agree a settlement of Xp in the £? Isn't the CVA wholy dependant on HMRC accepting this offer?

**ancienthibby** · 13-02-2012 06:50 PM

Originally Posted by Hermit Crab

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They seem to be forgetting about the millions he pumped into the club out his own pocket

More likely he stripped companies in the group of any cash to fund his Rankgers ambitions.

As in the case of acquiring one Paul Gasgoine.

Oh how the mighty are fallen!

***Bostonhibby*** · 13-02-2012 06:51 PM

Originally Posted by Mikey

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Could be. They'll start next season with a clean slate, same name, same stadium and much much more money to spend than the ten below them.

Highly likely and the SFA / League would no doubt be keen to accomodate the Hun surviving in some form or other.

Hopefully both bodies will recognise that the club that was Glasgow Rangers FC has voluntarily run itself down, and as such when they do emerge, with a nod and a wink and maybe even a pat on the back from the footballing establishment to help them along, the bodies that adminster Scottish Football will feel that all the honours won by the now defunct club pass with it and the new entity starts from year Zero - clean start eh?, the price of parking all that debt / shafting everyone they leave behind, including their very own Majesties Revenue and Customs.

**jgl07** · 13-02-2012 06:51 PM

Originally Posted by Hermit Crab

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They seem to be forgetting about the millions he pumped into the club out his own pocket

Murray tended to pump other peoples money into Rangers rather than his own. He conned his wealthy friends into 'investing' in Rangers and they ended up losing the lot.

***neilmartinrocks*** · 13-02-2012 06:51 PM

Originally Posted by crabis

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Not sure about that - Whyte is in no position to gain from this.

I actually suspect that it is Murray's plan - to get Whyte to take the club into administration so that he can come back in and buy the club from the administrator.

DAVID MURRAY KNEW?
i think he did as you say. get out and come back on a big white horse after the smoke settles.

***greenginger*** · 13-02-2012 06:51 PM

Originally Posted by Gettin' Auld

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What does the typical hun think of David Murray?

Find out here................http://forum.rangersmedia.co.uk/inde...t&p=1059764274

Obviously no swear filter on that site !!! I wonder what the poster who got removed actually said.

***BroxburnHibee*** · 13-02-2012 06:52 PM

Originally Posted by DH1875

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Don't know why so many people are getting so excited by all this. The likes of Motherwell and Dundee have shown that administration means nothing and even with a 10 point deduction Rangers will still walk 2nd place. Forget administration, it's liquidation that we want.

They didn't have a £50 million court case around their necks.

I actually agree though - todays move was about calling HMRC's bluff - if they don't blink first then liquidation is a distinct possibility.

Believe it when I see it.

***Hermit Crab*** · 13-02-2012 06:54 PM

Andy Gray on Talksport saying the league wont exist without Rangers or Celtic?? Thoughts.

***SteveHFC*** · 13-02-2012 06:55 PM

Originally Posted by Hermit Crab

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Andy Gray on Talksport saying the league wont exist without Rangers or Celtic?? Thoughts.

Andy Gray is a prick

**~~Saorsa~~** · 13-02-2012 06:55 PM

Originally Posted by Hermit Crab

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Andy Gray on Talksport saying the league wont exist without Rangers or Celtic?? Thoughts.

Just one, who gives a toss what that tit says.

**~~PaulSmith~~** · 13-02-2012 06:55 PM

Originally Posted by BroxburnHibee

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They didn't have a £50 million court case around their necks.

I actually agree though - todays move was about calling HMRC's bluff - if they don't blink first then liquidation is a distinct possibility.

Believe it when I see it.

I thik your spot on here, it'a about upping the ante to HMRC. Will the 'cold hearted taxman' really not have the expertise to see through this?

Whyte when asked if he will continue to fund Rangers ' to a limit' obviously not a billionaire then :)

**ancienthibby** · 13-02-2012 06:56 PM

Originally Posted by Hermit Crab

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Andy Gray on Talksport saying the league wont exist without Rangers or Celtic?? Thoughts.

Refer him to Mr Lawwell of Cfc.

**robinp** · 13-02-2012 06:57 PM

Originally Posted by EasterRoad4Ever

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I've always thought the taxman took precedence over all other creditors including secured ? ??

Crown preference was abolished years ago.

**Westie1875** · 13-02-2012 06:57 PM

Originally Posted by Hermit Crab

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Andy Gray on Talksport saying the league wont exist without Rangers or Celtic?? Thoughts.

Where are Celtic going?

And, that is rubbish, it will exist. A tv deal wouldn't be worth nearly as much but with most clubs having the chance to win the league attendances would go up for all other teams and the folk who support the bigots would need to find another team to support.

***Aldo*** · 13-02-2012 06:58 PM

Originally Posted by Hermit Crab

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Andy Gray on Talksport saying the league wont exist without Rangers or Celtic?? Thoughts.

Pants. When we were in the 1st Div we reg got crowds if 9 to 10 thousand maybe a bit more. That's cos we were winning.

That's more than double the likes of St Johnstone and St Mirren get now. Yeah we would loss income from the OF but would like to think we could compensate for that should we get a half decent team??

***SteveHFC*** · 13-02-2012 06:59 PM

**Dashing Bob S** · 13-02-2012 06:59 PM

Originally Posted by PaulSmith

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I thik your spot on here, it'a about upping the ante to HMRC. Will the 'cold hearted taxman' really not have the expertise to see through this?

Whyte when asked if he will continue to fund Rangers ' to a limit' obviously not a billionaire then :)

Exactly what it is. Whyte is using the administration process to say to HMRC 'negotiate a lower settlement with us, or risk getting nothing.'

The HMRC will probably challenge the administration process and insist on liquidation.

This will drag on, but it will put the Huns current creditors in a very difficult position. It should also deter (a la the Jambos) any sane party doing credit with the Huns.