No wonder they are in trouble then. That's a deficit of £44,999,965 p.a.
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Rangers gone into ADMIN (monkey tennis)
- Thread starter Tony Meolas Loan Spell
- Start date
No wonder they are in trouble then. That's a deficit of £44,999,965 p.a.
mistahclarke
Well-known member
- Jul 28, 2009
- 2,997
okay, so it is, don't be bitter
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CP 0 3 BHA
Well-known member
Now the HMRC are stating that they were seeking administration not because of the potential £75m tribunal but due to £9m unpaid VAT and PAYE in the 18 months SINCE the takeover.
Given the recent raising of £20m against future season ticket sales (what idiot did due diligence on that and decided it was a good idea to lend??) and the sale of their best player for £7m, this sounds like a cynical asset strip - particularly as Whyte is apparently saying that he expects to still control the club minus the debts out the other side of the administration.
Given the recent raising of £20m against future season ticket sales (what idiot did due diligence on that and decided it was a good idea to lend??) and the sale of their best player for £7m, this sounds like a cynical asset strip - particularly as Whyte is apparently saying that he expects to still control the club minus the debts out the other side of the administration.
severnside gull
Well-known member
BREAKING NEWS:
the £24m against future ticket sales "not visible in the accounts" according to the administrator
Can see some jail time coming up and the future of the club as a going concern looking far from assured.
Would the scottish clubs be able to afford relegating their star turn to start again at the bottom?
Will they be able not to?
ATFC Seagull
Aberystwyth Town FC
If things are as bleak as rumours have it, and as you say, given the financial "usefulness" of Rangers to other SPL clubs, I would say they are blatantly going to "do a Leeds", i.e. pay their creditors feck all and start over again in the same division. Even a 10-point deduction NEXT year isn't really going to hurt them, worst case scenario they finish a clear 2nd and get Europa League.
severnside gull
Well-known member
Bizarrely the administrator seems to be indicating that there is no immediately discernible reason why they haven't paid £9m due to HMRC and that £24m borrowed against ticket sales seems to have gone elsewhere (presumably one of Craig Whyte's other companies) . It also seems possible that the owner's company may not actually own it?
Still they have plenty of offers to buy the club out of admin and the players can look forward to picking up their (tax free?) wages this month as normal.
Certainly something rotten somewhere..........................
Still they have plenty of offers to buy the club out of admin and the players can look forward to picking up their (tax free?) wages this month as normal.
Certainly something rotten somewhere..........................
Barry Izbak
U.T.A.
Norman Potting
Well-known member
BBC News - Celtic hits back at Alex Salmond over Rangers comments
Alex Salmond, although I am loath to say it, seems to be right for once. I don't think Celtic get the fact that, without Rangers, the SPL would have even less point to it. I believe that the large wedge of cash that the SPL are going to get for TV rights next season is contingent on Rangers competing in the league.
I am sure that their survival will be fudged somehow, presumably Scotland have the same highly effective "right and proper" rules regarding club ownership as England.
Alex Salmond, although I am loath to say it, seems to be right for once. I don't think Celtic get the fact that, without Rangers, the SPL would have even less point to it. I believe that the large wedge of cash that the SPL are going to get for TV rights next season is contingent on Rangers competing in the league.
I am sure that their survival will be fudged somehow, presumably Scotland have the same highly effective "right and proper" rules regarding club ownership as England.
Yet despite this, Ally McCoist still isn't sure that he'll need to sell any players. How can you owe £75m and not have to sell players? I seriously do not get football and bankruptcy.
How much is Ibrox worth? Are rangers really worth a lot less than Brighton (ie, for £75m you'd own rangers and all that goes with it etc)?
Ally was interviewed on SSN and asked if he trusted Craig White - while shaking his head he mumbled absolutely we need to do what's best for the club blah blah.
How much is Ibrox worth? Are rangers really worth a lot less than Brighton (ie, for £75m you'd own rangers and all that goes with it etc)?
Ally was interviewed on SSN and asked if he trusted Craig White - while shaking his head he mumbled absolutely we need to do what's best for the club blah blah.
looney
Banned
- Jul 7, 2003
- 15,652
I agree, Celtic are talking bollocks. Its called the "old firm" for that financial reason. They need each other, a bit like Gungans and the Naboo.
Seagull over Canaryland
Well-known member
Seems to be a no brainer - without a competitive Rangers the market value of the SPL to TV companies and in turn potential sponsors and advertisers will plummet, so would inevitably impact on Celtic. Plus the other clubs who rely on income from decent gates (by Scots footie standards) for the Rangers matches will take a hit.
I agree - although all the signs are there of financial misdemeanours that would be fatal for most businesses I suspect there is too much at stake and can see some sort of fudge to keep Rangers viable.
GreersElbow
New member
Oh man, if Rangers go...and the SPL could end up being so shit they could join the EPL and that'll just mean alright football is being mixed with shite football...
severnside gull
Well-known member
Alex "seccessionist" Salmond will make sure neither club can ever relocate into a league south of the border
We are hardly likely to let a team from a country about to vote on independence into our league.
ATFC Seagull
Aberystwyth Town FC
To be honest, I am not sure exactly what Celtic are thinking when they state it won't have any effect on them (it's not like the above posters are onto some sort of insightful financial analysis that the Celtic board will have missed), but you can't really expect them to be saying any different can you? They aren't realistically going to come out and say "we want Rangers let off the hook, we need them too much", especially as they are effectively the big victim of Rangers' cheating the books over the years.
My personal opinion is that Celtic DO need Rangers (not necessarily a strong Rangers, but a Rangers) for the reasons people have said (i.e. overall interest in the league and therefore sponsorship etc), but worth remembering that the SPL TV deal is a drop in the ocean compared to the EPL, or even other avenues of revenue for Celtic. Rangers disappearing *could* lead to guaranteed Champions League group stages every year, a bigger interest from fans in more other matches throughout the season and other things. And I think the board will be basing their views on the idea that Celtic are a big club with history and fans worldwide, who won't disappear because there is no derby - so ticket and merch sales should carry on as you were.
Anyway, I wouldn't read too much into it - I think its being said well within the knowledge that it will never have to be substantiated, as Rangers will blatantly get more or less of the hook.
My personal opinion is that Celtic DO need Rangers (not necessarily a strong Rangers, but a Rangers) for the reasons people have said (i.e. overall interest in the league and therefore sponsorship etc), but worth remembering that the SPL TV deal is a drop in the ocean compared to the EPL, or even other avenues of revenue for Celtic. Rangers disappearing *could* lead to guaranteed Champions League group stages every year, a bigger interest from fans in more other matches throughout the season and other things. And I think the board will be basing their views on the idea that Celtic are a big club with history and fans worldwide, who won't disappear because there is no derby - so ticket and merch sales should carry on as you were.
Anyway, I wouldn't read too much into it - I think its being said well within the knowledge that it will never have to be substantiated, as Rangers will blatantly get more or less of the hook.
BBC Sport - Milan Mandaric interested in buying crisis-hit club Rangers
I'm sure that'll help things....
I'm sure that'll help things....
Monkey Tennis? Its more like Youth Hosteling with Chris Eubank
Players refuse a suggested pay cut, talks continue
Gers players fail to agree cuts | Rangers News, Fixtures, Results, Transfers | Sky Sports
Gers players fail to agree cuts | Rangers News, Fixtures, Results, Transfers | Sky Sports