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Rangers go into Administation

 

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Jamesie
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Feb 13, 2012, 3:29 PM

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Rangers go into Administation Can't Post or

It appears Rangers have served notice are to go into administration due to an upcoming 49 million tax case.

Big story if they do http://www.bbc.co.uk/...lasgow-west-17015966


garethwrexy
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Feb 13, 2012, 4:21 PM

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Re: [Jamesie] Rangers go into Administation [In reply to] Can't Post or Reply Privately

maybe if they go bust the new club could start in conference north Wink



wrexham fc fa trophy winners 2013 !


jrev61
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Feb 13, 2012, 5:55 PM

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Couldn't happen to a nicer club!SmileSmileSmile



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Wheelbarrow
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Feb 13, 2012, 8:13 PM

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Re: [jrev61] Rangers go into Administation [In reply to] Can't Post or Reply Privately

Does anyone know if the Scottish League has the same preferred creditor rule as the English one, so all football debts are cleared first?


MistaFozzII
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Feb 13, 2012, 9:10 PM

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Re: [Wheelbarrow] Rangers go into Administation [In reply to] Can't Post or Reply Privately

Is Rangers the biggest name in British Football to enter Administration.

My opinion remains the same as always. They should be made an example of and wound up, the club brought it on themselves and should pay the ultimate price, it would cause a stir I imagine, but one of the only guarantees in life is you have to pay tax and 49,000,000 is a lot of money to owe. Hope HMRC take them to the cleaners, which proves that even bigger name clubs cannot hide from Mr Taxman forever



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leohoenig
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Feb 13, 2012, 9:49 PM

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Re: [MistaFozzII] Rangers go into Administation [In reply to] Can't Post or Reply Privately

I assume that those running the club have taken the precaution of making sure that Ibrox is not owned by the company now in Administration, or is at least the security on secured debts to their own chairman (meaning that he takes possession).

It would be something if the taxman could actually seize the ground as a way of claiming back his due.



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mick
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Feb 13, 2012, 11:14 PM

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In Reply To
Is Rangers the biggest name in British Football to enter Administration.

My opinion remains the same as always. They should be made an example of and wound up, the club brought it on themselves and should pay the ultimate price, it would cause a stir I imagine, but one of the only guarantees in life is you have to pay tax and 49,000,000 is a lot of money to owe. Hope HMRC take them to the cleaners, which proves that even bigger name clubs cannot hide from Mr Taxman forever


It certainly would. Rangers following the Clydebank path and reforming in the Juniors would be interesting Shocked

My view is that Rangers are too big to go under ..... but they said that about Lehman Brothers.


prorege
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Feb 14, 2012, 7:47 AM

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Re: [leohoenig] Rangers go into Administation [In reply to] Can't Post or Reply Privately

For in-depth coverage of the Rangers case, have a look here:

http://rangerstaxcase.com/


PaulC
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Feb 14, 2012, 8:53 AM

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Re: [MistaFozzII] Rangers go into Administation [In reply to] Can't Post or Reply Privately

Rangers (and Celtic's problem) is that they can no longer compete with the Premier League (or Championship) for the quality of players they are used to having. Moneywise they can't compete with clubs they would have regarded as minnows pre-Sky.

Last season Rangers received 2 million TV money when they won the SPL. Blackpool, relegated, received 39 million TV money plus 30 million parachute payment.


IAN S
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Feb 14, 2012, 10:53 AM

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Re: [PaulC] Rangers go into Administation [In reply to] Can't Post or Reply Privately

It makes me laugh when Celtic come out with comments that they don't need Rangers. Not in the immediate future maybe. For starters they are going to lose two 50,000 or whatever crowds each season. Then when the hordes that descend on Parkhead from Ireland and afar start to get pissed off watching a competition that's been won in the first month of the season, basically a one-horse race, then I'm sure they'd miss the income from that.

The truth is both clubs need each other but the English Premiership needs neither.



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PaulC
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Feb 14, 2012, 12:19 PM

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If the Premier League wanted to maximise it revenue ... and after all it's trying to maximise its revenue, then of course it needs Celtic and Rangers. A league with Rangers and Celtic instead of say Blackburn Rovers and Bolton would have 60,000/50,000 crowds instead of 20,000, it would have a much bigger fan base in the UK in which to extract more money out of Sky/ESPN and its overseas sales of TV rights would rocket as it taps into the big following these two clubs have in the US, Canada, S Africa, Australia and New Zealand.


yorkieexile
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Feb 14, 2012, 1:06 PM

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Re: [PaulC] Rangers go into Administation [In reply to] Can't Post or Reply Privately

I would be interested in knowing what the views of the other SPL clubs are about Celtic and Rangers moving South

Would it be good for them - they can all have an aspiration of winning the new league - whereas at the moment they have no chance

They would also lose 2 or 3 big paydays each season

They would also presumably get even less TV money than they do at the moment

I also wonder whether Alex Salmond would have a view at seeing the 2 largest clubs in Scotland jumping ship.

Hope it never happens though


PaulC
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Feb 14, 2012, 1:21 PM

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I'm puzzled working out the relevance of Alex Salmond to this. He's a Linlithgow Rose supporter.


garethwrexy
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Feb 14, 2012, 4:20 PM

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Re: [PaulC] Rangers go into Administation [In reply to] Can't Post or Reply Privately

if rangers do go pop, will be the biggest bit of history in scottish football ever i think.



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PaulC
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Feb 14, 2012, 6:24 PM

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Re: [Jamesie] Rangers go into Administation [In reply to] Can't Post or Reply Privately

Bad news for Banstead Athletic then.


mick
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Feb 14, 2012, 7:24 PM

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Re: [PaulC] Rangers go into Administation [In reply to] Can't Post or Reply Privately


In Reply To
I'm puzzled working out the relevance of Alex Salmond to this. He's a Linlithgow Rose supporter.


Well I'm sure David Cameron would have a view if, say, Arsenal & Chelsea jumped ship to play in La Liga. He apparently supports the Unmentionables.


Swindon Addick
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Feb 14, 2012, 7:51 PM

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Post #17 of 140 (6639 views)
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Re: [leohoenig] Rangers go into Administation [In reply to] Can't Post or Reply Privately


In Reply To
I assume that those running the club have taken the precaution of making sure that Ibrox is not owned by the company now in Administration, or is at least the security on secured debts to their own chairman (meaning that he takes possession).

It would be something if the taxman could actually seize the ground as a way of claiming back his due.


If I've understood the BBC coverage correctly, Ibrox is owned by Rangers, not held separately. However the suggestion seems to be that the secured debts are so huge that all the assets will need to be either transferred to the secured creditors or else sold to raise money for them, with HMRC as a result getting possibly even less than they did out of Leeds.

The main secured creditor is widely believed to be the owner, although the BBC are being careful to avoid stating that as a fact.

Ibrox would be worth far more to someone who intended to tun a major Glasgow-based football club than it would to anyone else (it would take a very brave property developer to try to build on it). So the odds have to be pretty good that Mr Whyte will be able to offer more than anyone else for it and will end up owning it, albeit at the cost of the many millions of debt that the club owe to him.

We shall see. It's all looking very complex, and some of what's coming out about the previous owners is starting to make me feel that maybe I've judged Ken Bates too harshly.



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VP
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Feb 14, 2012, 8:12 PM

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In Reply To
Bad news for Banstead Athletic then.


Or good. FC Rangers of Tadworth has a nice ring to it.


Wheelbarrow
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Feb 14, 2012, 8:44 PM

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In Reply To
it would take a very brave property developer to try to build on it


Oh I don't know, a nice estate of these should sell well.

http://3.bp.blogspot.com/...e_cropped_edited.jpg


PaulC
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Feb 14, 2012, 8:56 PM

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UKPunk
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Feb 14, 2012, 11:41 PM

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Re: [mick] Rangers go into Administation [In reply to] Can't Post or Reply Privately


In Reply To

In Reply To
I'm puzzled working out the relevance of Alex Salmond to this. He's a Linlithgow Rose supporter.


Well I'm sure David Cameron would have a view if, say, Arsenal & Chelsea jumped ship to play in La Liga. He apparently supports the Unmentionables.

Didn't know he was a fan of that lot at the Emirates. Tongue



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VP
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Feb 15, 2012, 1:06 AM

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Re: [UKPunk] Rangers go into Administation [In reply to] Can't Post or Reply Privately

Just been reading the latest on the BBC website. The comments are funny. The first one posted says "Would an independent Scottish taxman have forced Rangers in to administration ? Probably not."

http://www.bbc.co.uk/...lasgow-west-17035992


noprogs
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Feb 15, 2012, 7:12 PM

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In Reply To
Does anyone know if the Scottish League has the same preferred creditor rule as the English one, so all football debts are cleared first?


No it doesn't, according to the Daily Telegraph today.
And apparently Dundee U & Dunfermline have already fallen foul of this by losing out on ticket sales.


garethwrexy
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Feb 18, 2012, 11:03 AM

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Re: [noprogs] Rangers go into Administation [In reply to] Can't Post or Reply Privately

next match v Kilmarnock sold out, but still not going to pay off the 49 million tax bill !



wrexham fc fa trophy winners 2013 !


burgesshillbee
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Feb 18, 2012, 6:34 PM

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Re: [garethwrexy] Rangers go into Administation [In reply to] Can't Post or Reply Privately

Having looked at all the relevant news items it appears that the 49 Million Tax Case is not the immediate reason why Rangers went into Administration, it was the fact that since the new owner took over they now HMRC 9 Million in Unpaid Tax and Vat, why HMRC allowed that sort of arrears to build up must be questioned. Also it appears that HMRC were about to issue a winding up petition against Rangers in respect of this 9 Million that was owed. Also the Adminstrators are trying to locate what has happended to 24 Million that was loaned to club by Ticketus against future Ticket Sales.

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