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If they owe that much to the police and ambulance services then how the hell are they still allowed to hold games at ibrox, surely the strayhclyde force should be refusing to police games until they are paid, can't see this happening anywhere else or in any other sector, it stinks
Oh, you bad person. :rotflmao:Quote:
Originally Posted by JeMeSouviens
:agree: what's for sure is that every penny anyone spends from now on RFC is dead money. No chance of winning the SPL, no chance of getting into Europe. Suppose they get their weekly opportunity to sign their bigoted songs without any chance of the authorities clamping down :green grinQuote:
Originally Posted by Hot Shot Hamish
Will enjoy dancing on their grave :thumbsup:
:agree: over the next few days, this and many more questions will be asked about RFC still being in business.Quote:
Originally Posted by Mon Dieu4
Nothing to do with the £400 an hour rate the Admins are getting, like :greengrin
:greengrinQuote:
Originally Posted by JeMeSouviens
That report is the best thing I have ever read :aok:
This is my favourite bit :
The Joint Administrators‟ agents, Lambert Smith, were appointed to provide an indicative valuation of Ibrox Stadium on an existing use and alternative use basis.
:lolrangers:
The end is nigh :thumbsup:
Like Onion, my thoughts on hearing this was how I want to dance of the filthy badstars' grave! We are the corpses! :faf:
£135m !!!!!!!!!!!!!!!!!
Who the **** is going to buy them.?
That instruction to the valuing agents is completely normal - nothing to see here!:wink:Quote:
Originally Posted by Seveno
Nobody in their right mind would take on that amount of debt, can't see any way they can just write this off and still stay the same Rangers.
On Reading the report is says Duff & Phelps been having dealing with the club since January 2011 so must me well aware of the background of the club before going into administration?
Even without the monies owed to the Big Tax Case, The Small Tax Case and the Employees they still owe £55,415,632. They're doomed a tell ya, they're doomed
Creditor -Claim (£)
Trade & Expense Creditors - £5,544,508
Ticketus (amount of claim to be confirmed) - £26,700,000
HM Revenue & Customs – Excluding Big and Small Tax Cases - £14,372,042
HM Revenue & Customs – Small Tax Case TBC
HM Revenue & Customs – Big Tax Case TBC
Supporter Debenture Holders - £7,736,000
Football Related Creditors - £1,063,082
Employees TBC
Total - £55,415,632
Yes, I know but stop spoiling the fun.Quote:
Originally Posted by ancienthibby
Rangers & New Rangers / Rangers 2012 or whatever they call themselves should be banned from signing any players / S Forms etc until every last penny owed to other football clubs is repaid
Before I permit myself a stauner here, let's look at worse case scenario; that is worst case for the rest of the world.
Circa £75 million, may be less, is HMRC big tax case which hasn't yet been resolved. Rangers might win the case.
£26 million or so is Ticketus deal which was done by Craig Whyte and which Rangers are disputing the legality of. The might win that case, too.
Hence their two biggest potential debts might not come into play at all.
I'm still keeping the jelly and ice-cream in the fridge. So many twists and turns with this.
They're not disputing that Ticketus had a valid deal, that's uncontested. What they're disputing is whether the Huns coming out of admin would have to honour the deal or whether they could just say, ok Ticketus, you're not getting the tickets so we owe you £27M instead. Join the queue of shaftees and get your p/£.Quote:
Originally Posted by Hibernia&Alba
It's the big tax case that will decide all of this really. Win it and they get their CVA, paying their creditors a few pence in the pound, as you say. Lose it and we then have to hope HMRC refuse any kind of CVA deal.Quote:
Originally Posted by JeMeSouviens
All the bids will be on the basis the company can agree a CVA. If the main creditor (HMRC) decides against a CVA then the Huns are dust. Then probably one of the bidders will start the 1690Huns FC from scratch and look to rent Hunbrox for a quid.Quote:
Originally Posted by Hibs7
My ideal scenario would be rangers to get bought over come out of administration then get hit for the £75M from HMRC and have to go back into administration :thumbsup:
That would make my year!!
On the figures quoted by D&P, HMRC are over 25% even without the BTC. So Hector can block a CVA whatever. A quick glance over other football administrations shows they've not voted in favour of one yet (that I can find anyway).Quote:
Originally Posted by Hibernia&Alba
Also, you have to think the Salmond thing is going to count against Der Hun. The very last thing Cameron & the Tories will want is his smug pus claiming his part in saving The Rangers. :rolleyes:
Excerpt from BBC report reads - The report reveals that since Rangers went into administration - some six weeks ago - the club has lost more than £2.5m
How the **** then haven't some more players been let go?
Reserve keeper, Neil Alexander is still getting £7K (£28K reduced by 75%) for sitting on the bench each week. There's £42K min that could have been saved.
same for Davis, Whittaker, McGregor, etc, etc...
It is so they can get the cash for finishing second by paying players that the Admin's admit they cant afford? Whole thing stinks.
Edinburgh City Council - £90 !!!!
Parking fines? Lee Wallace' Ridacard? Kevin Thomson's Mammy's rent?
Just watched the story re Rangers debt on STV News which finishes off with them offering Aluko a new contract, how does that work then?
The surprise is the amount they owe the newsagent ... I'm just impressed somebody at the new Govan TESCO can read.
But seriously folks:
For as long as they owe money to other clubs for what I presume are transfer fees, is it the case that they will not be allowed to sign players until that debt is paid?
How can they be allowed to participate in next seasons League cup or Scottish cup, if when the draws are made they still owe money to other clubs ( principally to Dundee Utd ) from the previous seasons Scottish cup?
From the look of the possible final debt total, how can any of the 4 ( now 3 I understand ) bidders have any way of dealing with such a huge deficit? As far as I am aware even the largest bid comes nowhere near offering to put that kind of money into the club.
It looks like liquidation as far as a total layman like me can see.
When that happens then we will see just how much integrity Scottish football has left ........... if any.
Anything less than newco huns starting again at the bottom of SPL2 with or without a points deduction will be totally unacceptable to fans of every club in Scotland. Especially Livingston, Dundee and Gretna. Not to mention clubs who fear getting to the top of the first division coz they cant afford the thousands of pounds required to bring their grounds up to scratch.
I say SPL2 because if the current buns do re start as a new club the other clubs will put SPL2 into place in order to avoid sending newco huns into the 3rd division, giving them the chance to get back into SPL1 in at the most 2 seasons.
Damn, my bid of bratwurst and cyanide capsules has been turned down.
Quote:
Originally Posted by JeMeSouviens
Another 'small tax case' has been listed which invloves payments to a couple of players. Interesting.
Remember that CW is still trying to claim that he is secured creditor and due £30m.Quote:
Originally Posted by hibs0666
If he can confirm this in the courts then there's nothing left in the pot for unsecured creditors.
Would have been better if the debt was lower imo so they would have spent years trading out of it, with the debt being as it is it seems inevitable they'll go into liquidation and back debt free in the SPL in no time, even if it is with a slightly different name