Admins flash the bling instead of paying creditors

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Can you believe these Duff and Phelps people?  They can’t afford to pay Rangers taxes, or other SPL clubs monies due, but today they tried to increase their payroll today by asking the SPL to register Daniel Cousin.  Can you imagine what the out-of-pocket creditors feel about this?

These people are in place to make sure the company trades long enough to repay creditors.  They can trade perfectly well with the three dozen or so players they have, what kind of justification could they possibly give to the court for playing Football Manager with other people’s money?  No wonder HM Revenue and Customs fought their appointment.

What an absolute shower. It’s almost as though that place is some kind of lightning rod for a special type of competency. It’s not your money you’re spending, pay the club’s bills and stop looking for football bling, that’s what got the last lot into trouble in the first place!

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971 Comments

  1. What a week.

     

     

    Still stunned that what we have been predicting for years has actually happened – RFC have hit the buffers, big-time. But the best thing is – and this is almost unbelievable – the brains trust on FF STILL DON”T GET IT!

     

     

    They think this is a bit of an inconvenience from which they will be rescued by “Bears with serious cash”. That these mystery millionaires will install a fan on the board and sell off part of the club to the RST and the like. One thread actually gleefully mocks us for being about to win a “tainted title”.

     

     

    We’re through the looking glass here, people.

     

     

    There is no acknowledgement that all this has happened even BEFORE the BTC has hit. That European football now looks to be a forlorn dream, (and is in truth the least of their worries). That even if they do survive they have sold off half their season tickets at enormous cost for the next four years.

     

     

    And that, despite not paying PAYE and VAT, they were still running at a 10million pound per season loss! And who is their potential saviour? Paul Murray, a member of the board that knew fine well what was going on, and whose role in sanctioning Whyte’s takeover is questionable at best. If they survive this, they will be financially crippled for years, decades even.

     

     

    And this is BEFORE the BTC. Which makes me think that liquidation is their only option. It eliminates the debts and then they just have to bully the footballing authorities into letting them back into the SPL as Rangers2012.

     

     

    Can this happen? No-one knows, but the obstacles are formidable. Apart from the fury of HMRC at being so royally scammed, not to mention the other creditors, there is ample option for the whole process to end up in the courts. Celtic, HMRC, other SPL clubs, other creditors – any one of these parties could go to court to challenge the phoenix.

     

     

    The comments from Vlad are encouraging, but he remains an unreliable ally. Cameron and Salmond I would dismiss actually. Although I was furious with Salmond’s comments I think he knows there is nothing he can realistically do and he is probably angling for a situation where he can blame “London” for the death of another Scottish institution (just like the poor old Royal Bank and BoS….)

     

     

    RFC, despite the insane optimism of their fans, are facing the end. Very soon I suspect.

  2. I expect there will be a huge banner at Ibox today.

     

    NO SURRENDER

     

     

    and a smaller one in the directors’ box saying UNTIL NEXT WEEK.

  3. Excuse my ignorance but if Cousins could play in a cup game but not a league game

     

    then surely the huns must still have to pay him!

     

    Please say this is so.

     

     

    Hail Hail

  4. morning all

     

    apologies for starting the day on a serious note but ive run out of hundreds and thousands

     

    and theres none left in asda either can anyone help?

  5. philhoopylogue - Kano 1000 on

    Just watchin tv with the weans and even Dora the Explorer and friends are doing the conga!

  6. seventyxseven 'glace' on

    If there are 8 other teams in financial trouble and pending tax cases, maybe they should all get together with Rankers, Hertz, Portsmouth and Airdrie and form their own league. I’m sure a suitable name for it could be found.

  7. Mullet and Co says:

     

    18 February, 2012 at 08:52

     

     

     

    Incidentally the William Hugh Derek Auden mentioned in that link as Paul Baxendale- Walker’s partner in crime is related to the poet WH Auden, the geezet wot wrote this:

     

     

     

    Stop all the clocks, cut off the telephone,

     

    Prevent the dog from barking with a juicy bone,

     

    Silence the pianos and with muffled drum

     

    Bring out the coffin, let the mourners come

     

     

     

     

    which is kind of apropriate.

  8. Alasdair MacLean on

    Wonder if there will be any veterans of the Iraq and the current Afghan conflict at Ibrox today?

     

     

    So while they are being paraded they can ponder on how they were sent to fight for their country under-equipped and badly-supplied while Rangers were evading their British tax dues and assisting over-paid foreign footballers evade paying British taxes?

     

     

    All with unsurpassed dignity.

  9. Morning CQN,

     

     

    I think we should be charitable towards the huns on the internet. We could gift them our mineshaft which has been replaced by a thriving ice cream and jelly shop.

     

     

    Our club are founded on charitable principles, so I think we should set up a charity; Help A Hun Assosciation [HAHA}.

     

     

    Lubo.

  10. All this wailing from Rangers and rally calls as if they are some sort of victim. Has anyone from Rangers actually uttered one word of culpability, regret or apology ?

  11. The BBC are doing their level best to help them in whatever way they can. Earlier this morning 5 Live had a sports psychologist on who was quite obviously a fan of theirs. He seemed to be on first name terms with McCoist and his staff. He reckoned there would be a great atmosphere this afternoon. No mention whatever of the bigotry or hatred of all things Irish/Catholic that will be polluting the air. Even more, he seemed to feel that with the right encouragement, they could overcome the 14 point deficit, just as we have done already this season. Now, I know its his job to be positive and that the MIBs will give them every chance but I would have thought he, more than most, would have tried to look at the whole situation. Might not this very probably be their very last game at Ibrox or anywhere else? Anyway, their squad hasn’t proved any good so far; why should that change? Let them die and soon.

  12. Silver City Neil Lennon on

    Summa of Sammi…. says:

     

    18 February, 2012 at 09:05

     

    Does that bring to anyone elses mind Matthew 18: 21-35?

  13. Che

     

     

    sprinkles, hundreds and thousands and rasperry topping delivered…

     

     

    oh and ice cream in freezer…

  14. saltires en sevilla on

    Good morning fellow Celts from mild North Hampshire

     

     

    Sitting in barbers listening to debate on admin for Huns and portsmouth

     

     

    General consensu they get what they deserve and more to follow

     

     

    Best quote

     

     

    “there is summit nasty about that rangers outfit…could never like them”

     

     

    Made my day

     

     

    HH

     

     

    M

  15. Lhads what can I say?

     

    as I site here in east dunbartonshire with a bowl of jelly and ice cream,

     

    John Denvers “leaving on a Jet Plane” playing on the radio seems so apt

     

     

    come back craigy boy we miss ya

  16. if there is a suspicion that they will get away with walking away from the £50M tax liaility I see the pressure being ratched up quite a few notches. I don’t really see how they can survive. As has been pointed out, they could end in court for years with creditors. It truly is a fascinating time! Politicians beware, the ugly heart of the institute ‘Scotland’ is bared for all to see.

  17. Today’s quiz. In the year 2000, who said:

     

     

    “I feel very sorry for Airdrie and their supporters but we’re running a business. We have given them repeated warnings and felt they were playing on our good nature”.

     

     

    Here’s a tip. The person responsible instructed his club’s lawyers to to take court action that year to arrest Airdrie’s share of gate receipts for a Scottish Cup tie against Dundee United, applying for an interdict for a debt of around £30,000 owed by Airdrie. Airdrie subsequently ceased to exist….

  18. I see certain media huns will do everything in their power to portray this ‘crisis’ as nothing more than a ‘drama’…..

     

     

     

    Shameful bias.

  19. The big guy at the back....of Neil Lennon on

    Future quiz question;

     

     

    Who was the last Celtic player ever to play against RFC (In Adminstration)?

     

     

    Answer: Lewis Toshney (Who will turn out, on loan, for Killie today)

     

     

    All the best, Tosh, enjoy every minute and secure your third M.O.M performance in row!

     

     

    TBGATB

  20. Good luck to Shane O’ Doirebhoy,who posts on here.

     

    Shanes getting married at noon today at the Long Tower Chapel in Derry.

     

    Good luck Shane..

  21. Morning bhoys, the sun is out on the hun free mountain.

     

     

    18/2/2012

     

     

    The day the hun play their last game at the bigotdome.

     

     

    The next time they play there, if they ever do, it will be renamed the rentabigotdome.

     

     

    I can see a big win for the hun today, the MIB’s will send them off in a blaze of glory me thinks, 4-1 to the hun I reckon, they had better enjoy it, it could be their last win for some time.

     

     

    Assuming the admin men do their job properly that is, and going by their first week I am probably talking a load of bollix.

  22. Lubo an oldie but a goldy.Children from Yorkhill Hospital visited Ibrokes yesterday —-To cheer up the players!!! Hope to see you soon Hail Hail Hebcelt

  23. Socks round the ankles and no shinnies on

    In the Graham Hunter article posted by Summa of Sammi earlier this morning, it is again alleged that the huns players had separate contracts confirming payments due through the EBTs. This has been mentioned before by numerous posters on this site (and Darryl King who has “seen the letters”), and has supposedly been the cornerstone of HMRC’s case.

     

     

    As I understand it, all player contracts must be lodged (such a suitable word) with SFA, who register it with UEFA who do likewise with FIFA. Any contracts not registered makes a player ineligible.

     

     

    This is where the tainted titles issue comes into focus as far as I can see. If/when the huns lose the tax case, it will have been proved they fielded ineligible players, the penalty for which is usually to have a 3-0 defeat imposed (remember Sion).

     

     

    It is this activity over a period of 10 years that should see the huns relegated to the bottom ring of Scottish football. It will also be interesting to hear UEFA’s thoughts on ineligible players being played in their competitions over such a long period

  24. Alasdair MacLean on

    So Murray and Rangers put Airdrie out of business.

     

     

    But don’t you know that it was good for Scottish football?

     

     

    Scottish football can’t SURVIVE without a strong Rangers.

     

     

    So we should all admit this and allow them to continue with their tax exempt status for the greater good.

  25. We all want Killie to do us a turn.

     

    We all want the hun to belt out the Billy Boys.

     

    We all want the snow to fall on Greyskull this afternoon.

     

    Oh, let it be!

     

    Hail hail, (and snow)

  26. Lennybhoy, thanks for posting the Glen Gibbons link.

     

     

    The article in full for those who can’t access some links.

     

     

    By GLENN GIBBONS

     

    Published on Saturday 18 February 2012 00:00

     

     

    RANGERS’ descent into administration was no more surprising than a hurricane in the Caribbean (if potentially just as damaging), but the islanders tend to be better prepared than the great majority of those with an allegiance to Ibrox.

     

     

    Considering the attention given in recent years to the financial devastation wreaked by the former owner/chairman, David Murray – this was long before the conferral of a knighthood – it seems almost perverse that the event should register as a shock, the collective wailing and lamentation disproportionate to the expectations of less partial commentators.

     

     

    As with the rise of Nazism and fascism in between-the-wars Germany and Italy respectively, the most pressing question asked in retrospect has been: how could it have been allowed to happen? In the 1930s, it was concluded that entire populations were duped because Hitler built the autobahns and presided over the introduction of the Volkswagen Beetle, while Mussolini made the trains run on time.

     

     

    Sixty years on, it was not difficult for any non-aligned observers to see that, in truth, Murray’s pot-hunting bluster and bravado appealed to Rangers supporters’ innate taste for triumphalism. This is a remark that will doubtless raise hackles and cause veins to pop on fevered brows, but it is a trait that becomes evident too regularly to be dismissed as insignificant.

     

     

    Even the most successful managers at Ibrox have had to tolerate booing of their team for committing the capital offence of being a goal down at half-time, long before a match is completed. Underlining the hunger for success at any price (the result emphatically more important than the performance) is the peculiar phenomenon of reserving the most intense celebration for the least impressive of victories over the most moderate of opponents. Sown on such fertile ground, it is hardly surprising that the seeds of assumption and complacency should thrive.

     

     

    Rangers followers’ claim to being “the greatest fans in the world” is as hollow as that made by supporters of clubs all over the planet (including Celtic). It is so much juvenile pap because, like the greatest movie ever made, the world’s greatest fans do not exist.

     

     

    If anything, those who claim unswerving loyalty to Rangers have been distinguished over the decades by a tendency to thin out in the face of adversity. It is a mere two weeks since fewer than 18,000 fans (including around 1,600 visitors) attended a Scottish Cup tie, while a random glance at matches in the early 1980s, when lying third in the league, reveals crowds of 4,500 and 8,500 for successive home matches against St Mirren and Dundee.

     

     

    Those hard times would undoubtedly deepen the joy of the 1990s, the support understandably too consumed by their own elation to give any credence even to the possibility that the orgiastic indulgence was unsustainable and would one day exact a toll.

     

     

    When Murray made his now infamous boast of putting down a tenner for every fiver spent by Celtic, the Rangers fans were too busy gloating (a natural and forgivable reaction) to see the true significance of the bombast. It was not simply that the principle was basically unsound but that it symbolised Rangers’ suicidal readiness to pay a transfer fee that was double a player’s worth.

     

     

    This peculiar – some would say insane – commercial practice was never more convincingly exposed than by the Gordan Petric business in 1995. The story is the more authentic for having been told to me by Fergus McCann, the Celtic owner/managing director at the very heart of the affair.

     

     

    The late Tommy Burns, then manager at Parkhead, approached McCann and said he would like to sign Petric, the Serbian central defender, from Dundee United. Complying with the usual drill in these matters, McCann asked the manager how much he thought Petric was worth.

     

     

    “Tommy told me £800,000,” the little Scots-Canadian recalled later. “So the board approved the approach. Tommy came back and told me Rangers had got wind of it and had offered £900,000. I went back to the board and got permission to up the offer to one million. Tommy came back again and said Rangers had bid £1.1 million. This continued until we went to 1.4 and Rangers once again topped it by £100,000.

     

     

    “At that point, I said, ‘Tommy, enough. You are now asking me to offer £1.6 million for a player you told me was worth precisely half of that just a short while ago. No, thanks. Rangers can have him”. In the event, Petric’s generally unremarkable performances in his three years at Ibrox rather vindicated Burns’s original evaluation, but, in the context of Rangers’ present predicament, the episode becomes a beacon of enlightenment.

     

     

    But no warning could have been more stark than the words uttered by the former Rangers director, Hugh Adam, and reproduced in the sports pages of The Scotsman just a few days more than ten years ago, on 2 February, 2002.

     

     

    In a piece almost spookily headlined “Adam Shakes Ibrox Pillars With Warning Of Bankruptcy”, the then 76-year-old board member first revealed that he had, just before, sold the remaining 47,000 shares of his original 59,000 holding for no other reason than his conviction that, having lost two-thirds of their value in the previous three years – from £3.45 to £1.15 – they were heading towards worthlessness.

     

     

    He predicted bankruptcy because “that’s the logical conclusion to a strategy that incurs serious loss year on year.” As recently as two weeks ago, Rangers-supporting posters on internet threads were still disdaining Adam as some kind of ill-informed eccentric. There is none so blind…

  27. The Honest Mistake loves being first on

    I’m not comfortable with that rangers must pay their taxes petition that’s going round and everybody is signing.

     

    I don’t want them to pay their taxes, I want them to pay the consequences for not paying their taxes. The same way every other business would be treated.

     

    I’m worried that the petition will be manipulated by a politician to show there is public opinion to do a sweetheart deal.

  28. ArranmoreBhoyLXV11 on

    What s with Der Hun optimism ??

     

    Dense or what ?

     

     

    A sell out? Hardly the case.. They ve season book holders( via ticketus ha ha) so my guess is they ve sold maybe 15 k tickets in Ayrshire and Govan to like minded gullible individuals.

     

     

    It’s incredible…

     

     

    They DO NOT GET IT..

     

     

    The games over..

     

     

    Read it and weep.. Even wee Sally stuck his bit in and said we must claw back points..

     

     

     

    You begin to realise how Whyte was able to fool so many people all of the time..

     

     

     

    I don’t trust Kilmarnock to give them a game though.. Shiels will have his players prepared to roll over..

     

     

     

    HH