One less drain on the state's resources, good news :aok:Quote:
Originally Posted by cynic
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One less drain on the state's resources, good news :aok:Quote:
Originally Posted by cynic
There due Dundee utd 100,000 in ticket money from the cup game which is due to be paid wed,
Also hearing whytes about to begin Devorce proceedings with his mrs after a right old whack ....yearly! I can see the boy trying like a bear to off load rangers whilst in admin heres hoping no ones dumb enough
So administration is now inevitable. If the appointed administrators can't get them solvent again by selling assets then they're screwed forever. Players will be sold outside the transfer window as per the agreement with Portsmouth. Will never be enough to deflect the tax bomb though.
How long till Ibrox is levelled?
Brought it all on themselves. RIP.
The Yams might get their wish of receiving just a percentage of the money due for Wallace. :greengrin
Portsmouth apparently about to follow suit!
Breaking news on SSN...
:bye::partyhibb:LOL::hahaha::rockin::rotflmao:
http://www.youtube.com/watch?v=MuUHs2Rx9EA
Saved from relegation by the huns going into liquidation.....carlsberg don't do great escapes....
This article from SoS explains all the possible consequences.....
http://www.scotsman.com/scotland-on-...yond_1_2112897
I rarely post but have to say, I had a day off booked at work tomorrow. I am going to go in though!!
Dying to see the smellies faces when I put the picture of Ipox on the notice board!!
The picture with the big "For Sale" under it.
:flag::flag::flag:
Lucky old Pars :wink:Quote:
Originally Posted by Matty_Jack04
Administration = lifeline
Liquidation = death
I know which one I would prefer
Jambo's be afraid, be very afraid. :greengrin
See Portsmouth have also applied for administration (again)
I'm afraid football debts take preference? so the yam would get their dosh, maybe!! But Rangers would have trouble meeting the criteria for playing in Europe unless the sfa cheatQuote:
Originally Posted by johnrebus
I'd dearly love us to give them one last thrashing before the death. :flag:Quote:
Originally Posted by GordonHFC
Is that the case in Scotland? I know it is in England.Quote:
Originally Posted by c31
SSN crapping themselves over the Huns situation - asking what the millions of Hun fans and neutrals make of one of Scotlands huge clubs going into Admin...
Well, as Archie MacPherson once said when asked why they show Rangers on TV so often... when they win, it makes a lot of people very happy, when they lose it makes even MORE people happy :green grin
IMHO you can stuff the Huns in Room 101 along with all their neanderthal fans, bigoted songs, sucking media pals and dodgy handshaking refs. This is going to be such FUN.
Oh, and when the say "the road to recovery" I think they mean the eradication of bigoted hypocrisy and bile at Scottish Football matches.
RIP Huns.
If Hibs went in to administration today it would be embarrassing in a business sense but I would have absolutely no fear of us going out of business. Administration is a cheats charter, a situation used by businesses sometime almost as a business tool. Rangers aren't ****ed their creditors are.
Is now the time for the Masonic handshake to make an appearance amongst the various authorities?
I forsee a lot of rolling up of trouser legs and goat ****ging in the immediate future :aok:
What's with the jelly and ice cream thing the Celtic fans keep talking about?
This is going to be the longest thread in Hibs.net history, and one of the most creative, enjoyable and interesting :greengrin
Have we had a statement yet from El Salmondo in a bid to win over the Unionist vote ?
Have to say I find this news a bit confusing. The new owner must have known that this was on the cards, so why didn't they sell their playing assests when the window was open? I know that wouldn't have made him popular but how will he be seen if they go pop altogether? I have no real sympathy though. Any club in their situation that are still owing a team a payment for James Beattie, a past it long gone journeyman, deserve all they get.
An excellent point and all too often forgotten. They have cheated for years and now they will cheat their way out of trouble. Anybody believe this wasn't on Whyte's agenda all along? The creep should be jailed but he will probably emerge from this richer whilst the poors sods he has stiffed pay the price for Rangers survival.Quote:
Originally Posted by Spike Mandela
SSN suggesting that Huns FC going into Adnim now to deny us law-abiding taxpayers from first creditor rights. Whyte would get first bite.
I really hope the HMRC go gunning for the Huns and pursure them to the grave :green grin Close that odious institution and remove the smell that has hung over Scottish football and society for decades :greengrin
I don't understand all the glee.
Huns are about to become debt free in return for accepting 2nd place in the league this year.
Or have I got the wrong end of the stick again?
Celtic sing "we will be having jelly and icecream when rangers die, jelly and ice cream when rangers die!" over and overQuote:
Originally Posted by Gatecrasher
The phone-in programme on Radio Clyde should be a good laugh tonight, so i'll be tuning in on-line.
Here's the link if anyone else wants to listen to some raging huns. :thumbsup:
http://radioplayer.clyde1.com/
HMRC at £49 million = you and me :rolleyes:Quote:
Originally Posted by marinello59
Surely all those songs pledging loyalty to the Crown means that they will settle their tax bill anyway? Or are their 'traditions' just a sham too? :greengrinQuote:
Originally Posted by EasterRoad4Ever
This is where I'm at too.Quote:
Originally Posted by Hibbyradge
I have a feeling it will be business as usual in a year or two.
Vlads reaction to the newshttp://t0.gstatic.com/images?q=tbn:A...JEWRSrSkSCULVg
The Queen at a recent charity gig for rangers http://bellacaledonia.files.wordpres...4/queenger.jpg
Offers over £5 http://newsimg.bbc.co.uk/media/image...r-sale466b.gif
I am sure that all the 'loyal' fans will put their hands in their pockets.Quote:
Originally Posted by marinello59
If they lose the HMRC case, Administration will not save them. They will be liquidated and have to start all over again with applications to the league. Ibrox will become public property (probably owned by HMRC - i.e. you and me - so we could in theory go for a kick about on a weekday :greengrinQuote:
Originally Posted by Hibbyradge
And they made sure Cousin was signed before they were prevented from doing so by Administration. It's one of the most cynical and despicable manouevres seen in Scottish business, let alone in football.Quote:
Originally Posted by Hibbyradge
Thats what i've been thinking as well, it has been funny watching the rangers fans ***** themselves though, heard one on the news earlier and his voice was breaking a bit like he was going to cry, normally i'm not one to laugh at a man showing his emotions like that but in the case of a hun i'll make an exception.Quote:
Originally Posted by Hibbyradge
Horrible horrible football club.
That's cruel...Quote:
Originally Posted by Hermit Crab
.. but sooo funny :greengrin
Has anyone else been told from any huns that apparently rangers don't own ibrox,Murray park etc but a sister company of them how could this affect things as far as selling of any assets also told all players are now owned by the sister company apparently so none of it can be stripped is this possible
Isn't administration great?
Run up a huge ridiculous amount of debt over the years (while ripping sensible teams apart on the field), then lose 10 points and be as good as new again. :agree:
**** off!Quote:
Originally Posted by Hermit Crab
I don't have £5 to just throw away. :wink:
Wouldn't it be funny if they've been trading while insolvent :green grin Directors go to jail :greengrinQuote:
Originally Posted by NORTHERNHIBBY
Quote:
Originally Posted by EasterRoad4Ever
With the amount of crap we've had to put up with from them over the years i say GIRUT
Perhaps when they go into liquidation, STF could buy both the Huns and the Yams and re-develop the land. :greengrin
HMRC will hunt them down. There is no way the Huns will retain ownership of Hunbrox.:greengrinQuote:
Originally Posted by gav71
They won't lose.Quote:
Originally Posted by EasterRoad4Ever
Cheers :aok:Quote:
Originally Posted by Liams
Any reason why you're so sure?Quote:
Originally Posted by Hibbyradge
Statement from Huns just now on SSN. Sounds very much like they're trying to avoid a "run on the bank" i.e. fans not buying STs for next year, looking for refunds, creditors doing business with them.
They are in deep do dos and trying desperately to stem a potential collapse of confidence in the Company. Oh this is such fun :greengrin
Happy Birthday to me!!:greengrin
Who's up for a Hands Off Rangers Campaign?!!
:devil:
Come on......
What, no-one?
Yes.Quote:
Originally Posted by HibeeSince85
This explains the consequences for Rangers and the effect on other clubs. Whilst their demise is greeted with laughter. The SPL need their away support, TV money and advertising that they bring. This is not good news for Scottish football or Hibs.Quote:
Originally Posted by Spike Mandela
I'm stuck at London City Airport waiting on a delayed flight, and loving every minute of it ! :na na:
Quote:
Originally Posted by Hibbyradge
Eh ? this isn't the SPL, SFA or TV panel they're dealing with ... it the HMRC. They'll squeeze them until the orange pips squeak :greengrin
I bagsy the main stand.
I've always wanted a listed building.
Yeah, like they dealt with Redknapp:rolleyes:Quote:
Originally Posted by EasterRoad4Ever
http://i19.photobucket.com/albums/b1...ughing-836.gif
http://i19.photobucket.com/albums/b1...es 2/YAYYY.gif http://i19.photobucket.com/albums/b1...ies 2/yeah.gif http://i19.photobucket.com/albums/b1...2/streamer.gif http://i19.photobucket.com/albums/b1...smiley-004.gif http://i19.photobucket.com/albums/b1..._champagne.gif http://i19.photobucket.com/albums/b1...laffsmiley.gif http://i19.photobucket.com/albums/b1...ysmiley020.gif http://i19.photobucket.com/albums/b1...smilie_912.gif http://i19.photobucket.com/albums/b1...02/muahaha.gif
Can you please share that reason?Quote:
Originally Posted by Hibbyradge
Personally, I've no issue with Hibs downsizing a little to see the demise of a club that has infected Scottish society for so long. Celtic will be next to collapse, without their bigoted brothers, bringing an end to the biggest anomaly in world football.Quote:
Originally Posted by lucky
Jelly and Icecream for all come Sunday.
Calm down man. What are you going to be like when the Yams go under ?Quote:
Originally Posted by Desperate Dan
Quote:
Originally Posted by Spike Mandela
You really think the timing of this move by the Huns is independent of the outcome of the HMRC case ???? No chance. They've had legal advisers and accountants all over the case like a rash. If they were confident of winning they would not be doing this.
nope, I'll bet their advisers have now come to the conclusion that they will lose the case - hence Whyte trying to protect what he's got.
You don't wanna know :greengrinQuote:
Originally Posted by Seveno
Not sure if this is good a good move for Scottish football as a whole but its very funny at this moment in time :agree:
Of court out settlement.Quote:
Originally Posted by HibeeSince85
Shared.
It may well prove not to be good. It is happening regardless though - might as well enjoy it :wink:Quote:
Originally Posted by HalifaxHibs
Quote:
Originally Posted by Hibbyradge
I presume you mean 'an out of court' settlement!
How is that going to be possible, given that Ipox main building is a listed property so that the real value for a buyer is close to Nil.
Then added to that are the planning restrictions that exist over Murray Park.
On the other hand, this was a completely planned takeover by C Whyte. We have to assume that he always had another agenda!!
Quote:
Originally Posted by Hibbyradge
You constructed that statement slightly wrong, I take it you meant out of court settlement? Why would HMRC do this? I think they will lose the case.
Thanks for sharing
Initially, smaller clubs will have to take the hit, but we'll manage. Rangers going into liquidation and into the financial oblivion is probably the best thing for Scottish Football.
GIRFUY :hilarious:
Because the facade of the main stand at Ibrox is a listed building, the rest of the stadium could be demolished leaving the biggest gravestone in Scotland for all to enjoy.
I timed my trip back to Scotland well!! Seen Hibs win in the cup, keep 2 clean sheets and now this!! I'll come back more often I think.
It was constructed deliberately and perfectly. :wink:Quote:
Originally Posted by HibeeSince85
Your desire impairs your vision.
Stand back and look again.
Please do :greengrinQuote:
Originally Posted by Mixu62
Quote:
Originally Posted by c31
Not in Scotland.
The SPL would ensure that any monies owed to clubs by the Huns would be paid from the TV and sponsorship monies due to the Huns.
From Mike Farrel of STV on Twitter
Mike Farrell@mikefstv
HMRC confirm the outstanding tax case of more than £50m would be totally separate from any administration CVA. :thumbsup:
http://news.stv.tv/scotland/west-cen...dministration/
It's clear that it was deliberate, as was my response.Quote:
Originally Posted by Hibbyradge
If this is some riddle I can't work it out no matter how far back I stand!
You believe that HMRC will accept some sort of settlement with Rangers over the tax case, it would have to be a fairly large settlement for them to consider that, money Rangers don't have.
:agree: They know they risk losing everything, which is why Whyte will have been asset stripping what he can before trying to get away with just a semi-painful administration.Quote:
Originally Posted by EasterRoad4Ever
jim spence @bbcjimspence Reply Retweet Favorite · Open
Hearts due two further payments for Lee Wallace. Next one not due until summer. Dunfermline money due by wed 22 feb
:LOL::LOL::LOL:
“@bbcjimspence: Hearts still owed almost one million pounds from Rangers for Lee Wallace transfer. Dunfermline due around 80 k for Last Saturday's game.”
Oh dear :greengrin :wink:Quote:
Originally Posted by carnoustiehibee
From what I've read on Twitter the HMRC debt will still apply - if you listen to those ITK, it's ta-ta to RFC as we know them
"The Ibrox club are 1 step closer to going bust"
Music to my ears! :thumbsup:
Jim White has just said it`s a dark day for football - my arse
It's potentially a wonderful day for Scottish fitbae'!!Quote:
Originally Posted by Irish_Steve
Couldnt have happened to a nice club.
Find it ironic that this was announced when I was in a cinema watching 'The Muppets'.:greengrin
ha ha
ha ha
ha ha ha ha ha ha
ha ha
ha ha
ha ha ha ha ha ha
I think we have a winner! :thumbsup:Quote:
Originally Posted by Frazerbob
Ironic that today is the 320th anniversary of the massacre at Glencoe when the Mcdonalds failed to pledge there allegiance to King Billy, Karma? Lol
Actually, I'm a bit of a hypocrite ! Does not seem that it will turn out to be such a bad thing for Rangers.....long term. They will survive and should eventually emerge stronger. But then I'm not exactly an expert in such matters.Quote:
Originally Posted by hibernianyank
But if it does not bother me whether Ranger's enter administration or not, why do I want Hearts to suffer greatly?
:flag:
Even If that's true about there assets?Quote:
Originally Posted by EasterRoad4Ever;31
12633
Rangers will be examining ways of transferring their assets out of reach of creditors-who will then get nothing.Rangers will be given a 10 point deduction and will then go on as before.
Craig Whyte Statement:
RANGERS chairman Craig Whyte has made the following statement:
The Club announces today it has served notice of Intention to the Court of Session to appoint administrators.
Since I took over the majority shareholding of the Club in May last year, it was clear to me the Club was facing massive financial challenges both in terms of its ongoing financial structure and performance and the potential consequences of the HMRC first tier tax tribunal.
http://aka-cdn-ns.adtech.de/images/4...65174V1Id3.gif
I have taken the decision that the most practical way to safeguard the long term future of the Club is to go through a formal restructuring process. It may still be possible to avert this but that is not the most likely way forward.
What is of paramount importance is the long-term security, survival and prosperity of this great football club. That is the job I knew I was taking on when I became majority shareholder in the Club and it is in the best interests of Rangers that it is completed before the end of this season.
It has meant turbulent times. We have gone from a Club mired in excess of £20 million bank debt to a club which is trying to stand on its own feet, earning more than it spends.
From my early days as chairman I saw that administration was a very real option to enable the Club to address these challenges and make a fresh start. Frankly, the case for administration in pure financial terms was compelling but I was acutely aware that such a great institution as Rangers could not be viewed exclusively in financial and business terms.
The fact is that Rangers ongoing financial position and the HMRC first tier tribunal are inextricably linked. As I have said before, Rangers costs approximately £45 million per year to operate and commands around £35 million in revenue. From the outset I have made it clear that I do not think it is in the best interests of Rangers to throw good money after bad. Against a backdrop of falling revenues, costs have to be cut significantly. Painful as though that may be, it is the future of clubs such as ours.
There is no realistic or practical alternative to our approach because HMRC has made it plain to the Club that should we be successful in the forthcoming tax tribunal decision they will appeal the decision. This would leave the Club facing years of uncertainty and also having to pay immediately a range of liabilities to HMRC which will be due whatever the overall result of the tax tribunal. In blunt terms, if we waited until the outcome of the tax tribunal, the risk of Rangers being faced with an unacceptable financial burden and years of uncertainty is too great.
We should not forget the tribunal relates to a claim by HMRC for unpaid taxes over a period of several years dating back to 2001 which, if decided in favour of HMRC, the Club would be unable to pay.
If HMRC were to agree, even at this late stage, a manageable agreement with the Club, then a formal insolvency procedure could yet be averted. It goes without saying that would be our preferred outcome.
If not, further investment in the Club would be impossible as the threat of winding up by HMRC cannot be removed. The Rangers FC Group, the majority shareholder in the Club, is prepared to provide further funding for the Club on the basis the funding is ring-fenced from the legacy HMRC issue.
The club has engaged Duff and Phelps, a specialist restructuring practice, to assist in finding a solution to the present position. As a result of that advice, it has been decided to seek the protection of a moratorium from HMRC action whilst a Company Voluntary Arrangement (CVA) proposal is made to creditors.
This, if approved by creditors within a month, would minimise any points deduction and allow the club to participate in European football. In short, if the Club proceeds into administration then it will have to emerge from that process, with the agreement of creditors, within a month or so in order to be able to play in Europe next season.
An administration process will, regrettably, lead to a cost-cutting programme and the potential loss of jobs across the business. It gives no one any pleasure to consider that possibility, but it is one that is facing businesses in any walk of life.
There will, no doubt, be people - some of them who presided over the Club in past years - who will contend that the steps we are announcing today are unnecessary. All I would say to these people is that if they want to step up to the plate and invest money in Rangers to avoid a restructuring of the business, then I would be most willing to talk to them. In the past unfortunately, there were people who not only failed to prevent Rangers being engulfed by our current problems but chose not to invest their money to help put it right.
As I said recently, these are tough times but I can reassure Rangers supporters that the Club will continue and can emerge as a stronger and financially fitter organisation that will compete at the levels of competition our fans have come to expect.
As chairman of the Club, every action I take will be in the interests of Rangers and there are many people working at the Club who are dedicated to making Rangers a success.
I would like to thank supporters for their great commitment to Rangers. This great football club can recover from the situation in which it now finds itself and be the force in football that the fans deserve.
Simply Depressed
Quote:
Originally Posted by PaulSmith
:thumbsup::thumbsup::thumbsup:
The Ranger fans are revolting! :wink:
Quote:
Originally Posted by blindsummit
Black Monday?? http://t3.gstatic.com/images?q=tbn:A...7JYfRwB-1gl1lq
Could be a disaster for Hearts.
They certainly are :wink:Quote:
Originally Posted by Supermac
And the cry was we've surrendered http://i19.photobucket.com/albums/b1...rsurrender.gif
surrendered and we've died http://i19.photobucket.com/albums/b1...rsurrender.gif
http://i19.photobucket.com/albums/b1...s%202/dead.gif
Attachment 7911
How kina no post pics anymare?
What seems strange to me is that they have got 24.4 million from ticketus and money from the Jelavic deal, they are operating at a 10 million pound loss per year but they must still have a decent wedge sitting somewhere. I find it strange that they have mortgaged so many future ST's recently, more than is needed to cover their annual loss. If they go into administration the money that is left over from the ticketus deal will get eaten up quickly. I wonder, and there is probably people on here that confirm if its possible, if Whyte has been taking money out of Rangers already so that creditors cant get to it and when they come out of administration or when a phoenix company is born they will immediately have money from an 'investor'