I think that would be key - 10 years at £5m or 5 years at £10m. Knowing the carve up that is possible - maybe £1m a year for 50 years. After all RFC are an institution that needs to be protected.Quote:
Originally Posted by Eyrie
Printable View
I think that would be key - 10 years at £5m or 5 years at £10m. Knowing the carve up that is possible - maybe £1m a year for 50 years. After all RFC are an institution that needs to be protected.Quote:
Originally Posted by Eyrie
Agreed that it is good news for all, apart from the most rabid anti-Hun. However, it makes the assumption that the Tribunal have found in favour of HMRC. Any gossip on whether that is the case?Quote:
Originally Posted by Eyrie
There would also be interest running on the balance until it is fully repaid :greengrin
But if the Huns have annual income of £35m and costs of £45m as is alleged, then cutting their costs back to (say) £10m would cover their overheads and leave them with a playing budget comparable to ourselves and Aberdeen. They'd struggle in Europe and gate money would fall, but they could still bring in £15-20m each year which would enable them to pay the debt off over 5-10 years.
The maths is do-able if the will is there.
Dont know who's doing the sums over there but Rangers published income, and wage bill, over the last ten seasons is;Quote:
Originally Posted by Eyrie
(Income first then wages)
2001 £46.0m---£33m
2002 £44.2m---£37m
2003 £48.2m---£35m
2004 £56.2m---£30m
2005 £54.3m---£27m
2006 £59.9m---£28m
2007 £41.8m---£24m
2008 £64.5m---£34m
2009 £39.7m---£31m
2010 £56.3m---£28m
Operating costs, excluding wages, must be high.
I'm astounded at how open the Administrators are, even to the extent of referring to possible criminal charges as a 'grey area'. You would expect them to say nothing until they have full possession of the facts.
Makes me very suspicious. I sense other people working behind the scenes all along.
Cheers for the correct figures, although it's ruined my afternoon as it means that they have the income to repay the taxman without crippling their ability to outspend the rest of us.Quote:
Originally Posted by Kaiser1962
Do these figures include the payments/donations to the trust?Quote:
Originally Posted by Kaiser1962
I can give you that for the last four years:Quote:
Originally Posted by Kaiser1962
2007 - Operating costs £19m/Player amortisation £4m/Interest £1m Total £24m
2008 - £22m/£7m/£2m Total £31m
2009 - £18m/£9m/£2m Total £29m
2010 - £15m/£7m/£1m Total £23m
Yes they do - 2007 £4.988m; 2008 £2.291m; 2009 £2.360m; 2010 £1.358m.Quote:
Originally Posted by greenginger
Anyone else notice the music being played at Pittodrie at half time today?
"Taxman" by The Beatles :tee hee:
just got a text from my mate at the game. Dons having a wee dig?!!Quote:
Originally Posted by atomheartfather
:na na::na na:
At least we're not Rangers. Thought I'd cheer us all up.
http://www.dailyrecord.co.uk/footbal...6908-23756481/
:faf:
:lolrangers:
That's an interesting order for those banners to be in... :wink:Quote:
Originally Posted by silverhibee
All very quiet at Ibrox but couple of things wanted to raise.
1) A 'friend of a friend' told me that his son who is 17 and on Rangers books has been promoted to the first team squad, a number of 16 and 17 year old have been told the same and will be training with the first team. Maybe a sign of the impending redundancies of some of the higher earners.
2) I keep reading about how 1 week in the administrators still do not know the whereabouts of the £24.4M Ticketus money - well here is an idea for them, ask Craig Whyte! Pretty simple really - phone him up and ask him where it is? Why have they not done this and why has no journalist questioned this?
I heard yesterday that the five-year contracts signed by the likes of Whittaker and McGregor are with the parent company, Rangers FC Group (ex-Wavetower) not RFC PLC. If true, that would break SPL rules on third-party ownership. And potentially mean that Rangers would lose every point they've won this season with "unregistered" players in their team. Like . . . every one of them. Which would put them on -10 points.
Supposedly this info came from an ex-Rangers player who is still involved with the club.
Quote:
Originally Posted by Coco Bryce
Now if that is true :pray: How funny would that be ... :cb
The next few days will be a real testing time for that mob ... :na na::na na:
The chief sports writer at the Scottish daily mail is saying on Twitter that there'll be a story to "bury" Craig Whyte "and much more" in tomorrows daily mail....
I Heard from a very good source that there will be a warrant out for his Arrest tomorrow for FRAUD:pfgwaQuote:
Originally Posted by Sergio sledge
He used the ticketus money to buy Gers.................Quote:
Originally Posted by Sergio sledge
http://www.dailymail.co.uk/sport/foo...-pay-bank.html
Well, who never saw that one coming!?:greengrinQuote:
Originally Posted by Spike Mandela
If he gets done, is that Rangers properly screwed? What funding will they have going forward?
Whyte used the Ticketus money to but the club, everyone knows that. What I don't get though is why they gave him it. Has he got any connections with them? Who gives a company on the bring of administration/liquidation a £24 million loan. Has to be something dodgy going on there.Quote:
Originally Posted by johnbc70
Hopefully someone will correct me if I'm wrong but I believe the crux of the matter is he recieved borrowings against an asset he did not own, which I think in this case counts as major fraud.Quote:
Originally Posted by DH1875
Think Whyte might be going to jail. And as a plus Rangers brand gets even more toxic :greengrin
http://www.bbc.co.uk/news/uk-scotlan...iness-17105626
Rangers chairman Craig Whyte has resigned from three director posts in other companies so he can focus on the club's future.
The connected companies, from which Mr Whyte has also resigned, are Merchant Corporate Recovery and Merchant Strategic Renewal.
the wee dwarf must have had a great time thinking up names for his 2152387923645786534 companies :cb
Quote:
Originally Posted by matty_f
If that is the case, who owns Rangers and who is the preferred creditor?Quote:
Originally Posted by EuanH78
First question - Honestly dont have a clue what that would mean to ownership of Rangers. Put up for sale again maybe?Quote:
Originally Posted by Spike Mandela
2nd - Dont think there is a legitimate one.
My crude take on it is that Ticketus, who already confirmed they don't offer loans, but buy assets, have effectively bought assets (tickets) that Whyte didn't own......he has used this money to both show Murray he has funds, and then paid off Lloyds. It surely depends on how much Rangers knew and in particular Murray I would have thought.....and what Whyte has told Ticketus.
He's kind of exposed himself though by stating on record he didn't use Ticketus money to buy the club......and where is the other £6 million ?
There will be nothing to own when the club are liquidated to pay off the creditors (largely HMRC).Quote:
Originally Posted by EuanH78
I do hope your right.Quote:
Originally Posted by jgl07
For a while I was thinking that there was some sort of plan at work, for Rangers benefit (from Whyte). But as more of this unfolds it's beginning to seem like he was just chancing it and hoping for fair winds. Nae luck.
Where does this leave Ally McCoist given his support for Whyte?Quote:
Originally Posted by EuanH78