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Rangers FC signal intent to go into administration

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livvy145

livvy145

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Rangers FC signal intent to go into administration

Rangers Football Club has lodged legal papers signalling its intention to go into administration.

The Ibrox club lodged papers at the Court of Session in Edinburgh on Monday, notifying an intention to declare an administrator.

It now has five days to confirm whether administrators have been appointed to take over the running of the club.

The moves comes while Rangers awaits a tax tribunal decision over a disputed bill plus penalties totalling £49m.

It is understood the papers relating to administration were lodged by Rangers' lawyers on behalf of directors.

If the club is formally put into administration it faces an immediate 10-point penalty from the Scottish premier League.

That would place the Ibrox club 14 points behind first-placed Celtic in the race for the championship.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966
 
That's what you get for years of mismangement at the top level. Coupled with some unbelievable delusions of grandeur.

Still, Scottish Football needs Rangers so they'll be bailed out by someone.
 
[quote author=Ryan link=topic=48679.msg1482443#msg1482443 date=1329194956]
That's what you get for years of mismangement at the top level. Coupled with some unbelievable delusions of grandeur.

Still, Scottish Football needs Rangers so they'll be bailed out by someone.
[/quote]

Yup. Murray's 'If Celtic spend £5 we'll spend £10' position has reached its ultimate conclusion.
 
Under our last owners if we had went into administration with our 300m + debt would you have has the same attitude?
 
Ok, I did suspect that to be the case. My point is, the fans of clubs who are not to blame have a right to expect proper custodians.
 
Oh sure I get your point. I just dislike everything about that club. Fans included.

Just the same as I would piss myself laughing if Man Utd went bust.

If this makes me a bad man then so be it.
 
Rangers owe hearts 800k.

Hearts owe HMRC cash & have a winding up order.

So this might mean both clubs go under. Scottish footy could be threatened seriously by this.
 
Surely Scottish football can't afford to lose Rangers?

Aren't they holding off investing money on the basis that HMRC will snaffle it all up? Set up some crude repayment plan and monitor spending and leave em to it, I'm sure the clubs existance will be of greater benefit to the economy than the £50m owed in a fairly short amount of time
 
[quote author=doctor_mac link=topic=48679.msg1482457#msg1482457 date=1329203628]
[quote author=Ryan link=topic=48679.msg1482443#msg1482443 date=1329194956]
That's what you get for years of mismangement at the top level. Coupled with some unbelievable delusions of grandeur.

Still, Scottish Football needs Rangers so they'll be bailed out by someone.
[/quote]

Yup. Murray's 'If Celtic spend £5 we'll spend £10' position has reached its ultimate conclusion.
[/quote]

Surely it's got bugger all to do with that spending policy and a lot more to do with the fact that they believe they don't owe a tax bill which the tax office, after thumping non payment fines are added to it, claims amounts to nearly 50m.

There are plenty of cases where companies believe their tax bill should be x and the tax office believes it to be y. I would imagine that the the admin is just a warning shot to the powers that be, letting them know they're not getting 49m whatever they do so come up with a plan b, c, d and e which are viable.
 
If Rangers and Celtic both went under it might work wonders for the peace process in NI. Although the ferry companies would soon struggle.
 
[quote author=spider-neil link=topic=48679.msg1482471#msg1482471 date=1329207610]
scottish football = spanish football but without the money...or viewers...or players
[/quote]

So.... Scottish football != Spanish football
 
If it was a bluff to force HMRC's hand, it's failed.

HMRC have applied for administration, that means they'll get to appoint the administrators & changes the game significantly. Playing hardball.
 
Very disappointing from footballing point of view. Where did they rack up all the debts and high costs from?

As for Portsmouth, what's with the "fit and proper" test for owners? Why are they in such a mess, again?

There's doubts hanging over Birmingham's Hong Kong owner too and Inter Milan might be the next big club in trouble if they don't recover from the poor season they're having. With the debts they were already in, missing out on CL football and revenue is unthinkable - esp. long term.
 
To be honest it really couldnt happen to a nicer bunch of cunts....

EVERY time theyve come down here to play theyve brought some of the nastiest fucking wanker fans you are ever going to see...

Fuck em...
 
Strathclyde Police issued a statement after Rangers entered administration over the club’s ability to pay for officers to work at home games, including Saturday’s match against Kilmarnock.

A force spokeswoman said: "Strathclyde Police is a public body and has a duty to make sure public resources are used appropriately. We are seeking an urgent meeting with the administrators to ensure that any payment for policing costs at future Rangers games is guaranteed.

"Until we have such a guarantee we would not be in a position to commit public resources to policing an event unless we had a reassurance that our costs would be met."
 
Apart from the embarrassment, is this such a bad thing for them?

Its a bit silly that they get docked 10 points and still stay in 2nd place with no chance of the team in 3rd catching them. Apart from being out the title race which they were probably going to lose anyway, all administration does is get loads of their debt wiped out.

Maybe there should be a rule for automatic relegation.
 
Although, if they have to go the route of being wound up and starting again as a 'new' club, they would have to start in the lower divisions, no?
 
SSN reporting that HMRC moved to put rangers into admin today not because of the big tax bill but because of 9 mil in unpaid VAT since Whyte took over.
 
Whyte the chairman has a history of buying such companies who are ready to hit the wall, he bought them for a £1 and is the major creditor who is guaranteed an estimated £20 million before any other of the creditors get a look in. He cleared debts of £18 million but in doing so he's financed the next three seasons season tickets money to do so.

He's played the system and by letting him appoint his own administrators he'll come out of this a richer man than when he went in. By the time the case is over it will have probably cost HMRC money to take the case this far compared to what they actually collect.
 
[quote author=Rosco link=topic=48679.msg1482712#msg1482712 date=1329240145]
Dave what does the T in VAT stand for ?
[/quote]

"Since"
 
Rupert Murdoch has admitted hacking into Ally McCoist's phone. And topping it up with a tenner.
 
Rangers have signed a new broadcasting rights deal for season 2012-13. From next year, all games will be shown on the History channel.
 
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