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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There has been some incredible action today on the eBay action for the signed Celtic top in aid of the Vanessa Riddle Appeal. I’m stunned, check out the link below. You are pushing the reputation of supporters of Celtic Football Club ever higher.
Bid and help send Vanessa for the treatment she needs by clicking here. Only one day left.
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The Singing Detective says:
18 February, 2012 at 01:58
I find it incredible that the Hardcore Biblical people I listen to are saying that they find the most common Ground with those on the Left who have Social politics that CARE for others, the Right wing is being SHUNNED by the Smart people on the Right (TRULY GOD FEARING) .
A truly fearsome administrator would be….
ernie & philvis
They widnae know if they were coming or going.
Statement from Stewart Reagan today (ye couldnae make this stuff up)
” After over 140 years and taking the piss oot ae Scotland and 30 years of taking the piss oot ae England I think we should investigate those “noughty” huns. Starting err …as soon as I can wriggle outta it and the spotlight falls somewhere else. Phew! Next?”
Cheeky Chappie and tomorrows team talk for Killie
http://www.youtube.com/watch?v=768h3Tz4Qik
Margaret McGill
The Head of Cricket to the head of Scottish Football?
How Masonic is Cricket? If I had to hazard a guess? It is VERY exclusive.
Excellent commentary on G4s and JRs controlling role in it.
Hail Hail
http://www.youtube.com/watch?v=NbbBe9EKyPY
Apologies SR was not Head of cricket .
Petec for you
http://www.youtube.com/watch?v=wQOdNY-HdG0
.
Courtesy The Age.. Melbourne..
Watching Rangers slowly die
Graham Hunter February 18, 2012
Why, oh why: Rangers fan Michael Haggerty makes his feelings known to owner Craig Whyte. Photo: Getty Images
OUR abiding love affair with soccer wouldn’t be quite so tungsten-tough if it didn’t bulge full of impossible-to-script, against-the-odds, logic-defying twists and turns. Resurrected careers, last-minute winners, mice who roared at elephants – soccer perpetually defies prediction and understanding.
Notwithstanding all that, only a turn of events more miraculous than former Alaskan governor Sarah Palin being sufficiently geographically aware to pinpoint Rangers’ Ibrox Stadium on a map, and then running off to start a new life with a radical Iranian cleric in Afghanistan, can save the famous Glasgow club from extinction.
Last night, Ally McCoist’s players were either being told by administrators that they were likely to be made redundant or given the stark news that they must play without wages.
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The club has had 10 points deducted for going into administration and because of the bill for policing this weekend’s game, against Kilmarnock, the match was in jeopardy until the last moment. That’s how stark the situation is.
Meanwhile Rangers owner Craig Whyte was facing the kind of treatment usually reserved for the baron in a Hammer House of Horror movie when the villagers shed fear and respect, and march on the big house on the hill bearing pitchforks and flaming torches. Fans of the 140-year-old club, a Scottish icon, not only know that they face losing their club completely but that they have been ignored, lied to, treated like buffoons and betrayed. Anger is becoming insane fury.
If the current tax case being conducted produces anything other than a miracle, and an innocent verdict, then Ibrox will be hit with financial penalties which will, inevitably, put Rangers Football Club as we know it out of business. For the club and for Scottish soccer, where Hearts, Dundee United and Dunfermline are owed a total of £1.2 million ($A1.75 million) from the Glasgow behemoth and where the pitiful amounts earned in TV revenue wholly derive from voyeuristic fascination with the Old Firm, it is a cataclysmic scenario.
But the simplest way to explain an intricate story which has shocked and frightened the rest of world soccer is like this.
During the years Rangers were owned and run by Sir David Murray, a bullish, self-regarding, ambitious but initially successful steel entrepreneur, the club was regularly the fancy-dressed beau of the ball. Yet ultimately, like the fabled emperor discovered,it was naked, not dressed in dazzling new clothes.
The De Boer twins, Andrei Kanchelskis, Tore Andre Flo, Mikel Arteta, Gio Van Bronkhorst, Dado Prso, Claudio Reyna and Craig Moore were all latter-day versions of the glory days of Terry Butcher, Graeme Souness, Brian Laudrup, Paul Gascoigne, Trevor Steven, Mark Hateley and Andy Goram.
Under Murray the net performance in soccer terms was 22.5 carat – not 24 but big and sparkly. So nearly inaugural finalist in the newly instituted Champions League, seriously dominant in Scottish domestic competition, and as recently as 2008 capable of drawing with Barcelona, defeating Lyon, Werder Bremen, Sporting Lisbon and Fiorentina to reach the UEFA Cup final.
However the Murray administration’s part in this downfall is fundamental. Taking ”cutting edge” advice from a firm of tax lawyers, Rangers decided to augment their ability to attract top quality players, while the attractiveness of playing in Scotland declined exponentially, by using the Employee Benefit Trust.
Although British tax authorities have wanted to tighten up or even outlaw this scheme it is, when used strictly within its original terms, fully legal. The scheme derives from an employer ”loaning” money to an ”independent” offshore trust for the benefit of a trustee or their family members, thus avoiding almost all tax, and it being understood that the loan is not actually a loan and will never be paid back.
However there are certain absolute ”no no’s”, one of which is that the ”loan” from the employer must not be tied in any way to a guarantee – that is, wages, bonuses or incentives.
This means that anything which in written form indicates that a supposed ”loan” to a trustee is in fact governed by contractual obligation constitutes proof of illegality.
The case of Her Majesty’s Customs against Rangers is where the Palin-style miracle is required. Given that it may take several more weeks to establish the club’s guilt or innocence, it would be wrong to pronounce a verdict here. Suffice to say, I know of no one associated with the affair who dares to dream that the club might be absolved. Although some of the estimates are fanciful and the degree of ”understanding” which might be shown by HMC is yet to be established, the logical range of financial penalties fluctuates from around £32 million (happy days!) to what Whyte said might be £75 million (game over).
Her Majesty’s Revenue views this as a test case. It appears Rangers were picked for a variety of reasons, one being their corporate turmoil and debt (but one would also infer the degree of certainty that HMR felt there was of getting a conviction). So if the case is proven then it will go on the hunt.
Let’s say, purely hypothetically, that a club like Arsenal used this scheme and either consciously or inadvertently followed the same actions for which Rangers are being pursued. In that hypothesis a tax bill of large proportions would be the consequence – a scenario which would then affect stability, transfer market power and an ability to attract top-class managers in the future.
Sadly for Rangers, their plight is nowhere near ending with this case. Their current administration has a completely separate unpaid tax bill of £9 million. Whyte, having promised less than a year ago to spend £25 million on transfers over the next five years and having offered to ”front load” that for his manager’s benefit, raced to appoint his preferred administrators during the week, only just beating HMR to the punch.
HMR wanted to appoint administrators. When you are thwarting it over a significant unpaid bill at the same time as it is finalising an endgame which might lump a bill of up to £75 million on Rangers, things ain’t good. Not at all.
Worse, Whyte first denied but now seems to have accepted that he took a £24.4 million loan from a London-based company, Ticketus, which is guaranteed against future season ticket revenue. Where that money is now and what he intends to use it for is something which he either will not or cannot publicly clarify. Did he use forward revenue to clear the £18 million bank debt held with Lloyds? If so, why not make that clear? If not, why not?
With the timing of a black comedy, these questions arise days after a Scottish judge awarded a (entirely separate) debt case verdict against Whyte, personally, and condemned his evidence as wholly unreliable.
That, allied to the fact that Whyte was banned from being a director between 2000 and 2007 leaves Rangers being run by, very nearly, the last person on earth one would trust to have either the capacity or the CV to help.
If they are bankrupted and liquidated then they will cease to exist in the current form. Given the loyalty felt for the name, history and concept of Glasgow Rangers by their fans, the club will surely reconstitute in some way. It is my opinion that Scotland requires this club, or something like it, in order to remain viable as a soccer nation. Should it not exist, the legions of Rangers fans won’t take their loyalties and their cash elsewhere. Some, yes. The majority would be lost though.
But if Rangers fold and re-form, how is it arguable that they automatically command a spot in the top division? I cannot envisage that. Equitable treatment would dictate that such a new club would be forced to work its way up the divisions.
There are many more skeletons to come out of this closet and like all horror movies, the story doesn’t end well for 99 per cent of the participants.
It’s ironic that over the years Rangers have tinkered with their motto. Once it was Aye Ready – ”always” ready in Scots. Then it was simply Ready. But given how unprepared they seem for this crisis, all they are left with is that droll, world-weary Glaswegian expression ”aye” which also means yes.
As in, ”Are we really up shit creek this time?” ”Aye.”
Summa
Summa of Sammi…. says:
18 February, 2012 at 04:56
Thats an excellent summary, however, why is no one talking jail time? Murray, Whyte and complicit cohorts should be charged with fraud and tax evasion given appropriate jail sentences and the company and hence club liquidated as would be the case of any other plc. Anything else is more complicit corruption and will, or should be, escalated to the highest echelons of government. Fraud. Simple. Cheating bastars. End of. Bailouts. Takeovers. Sympathy. Cant see it. If newco appears the Scottish game is over. Oh and all their titles and trophies rescinded.
“We don’t do walking away – we wait till our arses are kicked oot the door” …Sally the Legend
Summi. Was with an old friend the other night
He left to go to Melbourne on Friday
He is playing at Hisense arena tonite
Is it any good ?
In Melbourne CBD?
Good morning Bhoys,
Watching the unedifying spectacle of current and ex-Rangers directors trying to evade the on-coming tsunami it heartening to know that we can watch it from a safe vantage point. Big thanks to our bored.
I can’t help but believe that Craig Whyte is the fly in the ointment and it’ll be him that’ll stand in the way of the funny handshake mob keeping control of events.
A appropriate little ditty for the 50k who’ll gather today.
LINK: Bob Segar – The Famous Final Scene
murdochbhoy says:
18 February, 2012 at 06:06
Are you seriously giving the bored credit for hun psychotic sociopathy?
murdochbhoy says:
18 February, 2012 at 06:06
Lets not go from the sublime to retarded ridiculousness in these fine times.
.
SydneyTim..
Re; Hisense Arena.. It’s the Olde Vodafone Arena.. Is he a Muso..? It’s Like Court No1 at Wimbledon..
So Not Rod Laver Arena but Not bad..
Summa
Margaret McGill
I think credit where credit is due, our board have acted in the clubs best interests in these particular times. We have a stadium and a training complex that is the envy of many, we have a very promising youth development scheme, we have a sound scouting team, we have a management team that, although inexperienced, have shown they are quickly maturing into a formidable team. Perhaps best of all we have a team to be proud.
All this was done without splashing the cash we didn’t have, yes, I’m saying they’ve done well and I for one recognise they’re contribution.
Regards
murdochbhoy says:
18 February, 2012 at 06:33
Credit goes to Fergus. Its his model. Subsequent custodianship have been downsizing waiting on this day for possible EPL entry windows. One passed. Another may be on the horizon. It depends on Newco which is beyond our current Bored’s control.
Hey Maggie hows ya doing ol’gal?
Question?
Can 50,000 orcs attend today’s game and NOT burst into the Billy Boys? The drink will be flowing in the bars from 11am, the tension building and historically, that usually means a poisonous atmosphere.
Will the media sell it to the British population as a great show of support – or highlight it for what it is?
Will Eck the fish still agree that this is contributing to the “fabric of society”
If they lose will innocent folks be attacked all evening in the streets? If they win even?
Ok, thats lots of questions…………………..
twists n turns says:
18 February, 2012 at 06:38
No bad..yersel? ok answers to your questions:
a) lets hope its a wake.
b) The Scottish media will. The English media will ignore it probably.
c) Yes he will..his vision. His society. Not ours.
d) drunk huns mug embdy..even each other.
Hes green, hes white,
Hes freekin dynamite,
Craig White,
Craig White….
EN
I do hope Craig Whyte realises he will have to relocate far far away. Given what he has done for the support ……………….of the hoops……could you offer him exile over there with you?
Margaret,
Yeah, your right but it’s cumulative. Of course Fergus set the direction in the conditions that prevailed at the time and the current board have reset the direction somewhat, but we’re in an enviable position, just ask Rangers supporters.
Sorry Margaret but I have to sign off now as I’m off to play that working man’s sport of golf ( it’s working man the way I play it) but I look forward to your posts.
Celtic souls united, regards.
.
Well done with All the Rangers Pub Names Yesterday..
My Personal Fav was..
Bar Linnie..
Summa ft BanterWhenRangersDieCSC
I even dreamed about this last night.
Herald front page looks so pretty this morning.
But another Q stirs within me:
” Earlier, the club’s administrator admitted 24.4 million pounds of money advanced by finance company Ticketus against future season ticket sales failed to reach club coffers and was instead paid to another of owner Craig Whyte’s companies………..It is understood this proof of funds was crucial in persuading the club’s then owner Sir David Murray that Mr Whyte had the funds to buy Rangers.”
So, if Ticketus money was used as proof that he had the funds to buy angers, Whyte did the deal before he bought Rangers? This does not add up….
In 300 years from now the global Bishops of Timmery will meet in Constantinople and declare the miracles of whytery. Of how Craigilee of Murderwell was visited by the three kings of Dorian Gray and given gifts of Gold, Jockenstein and Murray in the year of our Turd 1971 only to live a life of anonymity and was crucified in 2012 the year of the Nostrahunnus.
Summi. He says nearly sell out 6k.
Celtic thunder.
Not bad a big lad who used to sing rebel songs in welcome inn, old barn oneils and less rebel in jintys
One of our own who has done good
.
I posted a Tweet yesterday that Said HMRC were Trying to Remove the Administrators of Rangers for Posting a Save our Gers e-petition on there Website.. Me and a Few others tried to Confirm the Tweet without Success..
Can’t help Thinking after the Attempt to Sign Cousins by the Same Mob..
Maybe there was Something to it..
Time Will Tell..
Summa
TnT
Haha, I’d gladly put him up and buy him a drink, he’d be most welcone at my Liquidation party.
EN
.
Sydney..
I have seen the Ad for it.. Just had a Look at their Site.. Doing Well..
Summa
sparkleghirl –
It’s what I said on here a week ago, CW is a criminal mastermind. He bought Rangers with Rangers’ money.
Will Salmond be pleading for clemency, or a non-custodial sentence when the High Court Judge adjourns to consider his punishment?
Well done Lenny for telling the truth. Thems have cheated their way to multiple titles by financial skulduggery. The msm know it and were complicit in justifying it and in burying the facts.
Btw did anyone hear that wee rat Flanders comparing Lenny’s treatment and attempted bombings of last year with alistsairs situation at rankers? Wtf?
This country gets worse. But the jelly and ice cream still tastes sweeeeet.
Tom McLaughlin says:
18 February, 2012 at 07:17
It’s what I said on here a week ago, CW is a criminal mastermind. He bought Rangers with Rangers’ money.
yeah but …. that means Ticketus handed over the money for Rangers assets to someone who was not yet anything to do with RFC. How could he sell these rights UNLESS the then owners/directors approved it’
For all the hilarity of this story IMO there is not as much of a story in it as meets the eye.
For it appears, to me anyway, all the administrators did yesterday was attempt to register a player whom Rangers FC PLC (a few short hours prior to going into administration) signed. Because contracts were signed Rangers FC PLC (in administration) are obligated to pay him or rip up his contract.
Still it is PYSL stuff that a club with an X CEO of the SFA and football agent as a CEO could not organise the process’s involved in order to take a jobby.
TALLF
MWD
Top of the morning to you all from a wild, windy, and wet Fife.
Though normally a victim of S.A.D. there is something in the air that made me forget about the weather this week. It’s as if there was a bubble round me, shielding me from the wintry Fife winds and leaving me basking in a balmy breeze. Oh and I keep bursting into song and doing little jigs for no apparent reason.
Anyone else had these symptoms this week?
Anyway, with that, sort of light-hearted mood on me, I felt compelled to set down my thoughts on today’s football match at Ibrox. So with apologies to William Topaz McGonagall, poet and tragedian of Dundee, here they are:
Kenneth Shiels came to Ibrox, the points for to fight,
And the Govan wind it blew with all its might,
And the rain came pouring down,
And the dark clouds seem’d to frown,
And the Demon of the air seem’d to say-
You tax-dodgers won’t win today.
When Brines-Ian, his whistle blew to commence play,
The Bigot Choir loudly and proudly did bray ,
But Boreas blew a terrific gale,
Which made their hearts for to quail,
And many of the loud and loyal Thread-Bears did say,
“I wish I had’nae come out the day,
“But stayed in bed with the wife, all cozy and tight,
And watched the game on tele at the ludge tonight”.
While the Storm Fiend did laugh, and angry did bray,
Along the Copeland Road down Ibrox way,
Two goals down the most loyal of Thread-Bears did say,
“Why the feck did I come out here today,
It’s all the fault of Murray and Whyte,
For making us watch such a pile of shite”.
I must now conclude my lay
By telling the world fearlessly without the least dismay,
Tho’ Rangers’ team and finances are anything but fine ,
The big house must stay open—that’s the bottom line.
H.H.
My mate answered a job advert for a ‘handyman’ in the local pub/restaurant.
The interview went like this . . .
Have you worked in a bar before?
Naw.
Have you worked in a restaurant before?
Naw.
Whow about a cafe or a bitro?
Naw.
Can you fix a leaking tap?
Naw.
Can you change a barrel?
eh . . . Naw.
Can you change a light bulb?
Naw.
I thought you said you were a handyman.
I am. I live in the flat upstairs.
GCT
Welcome back. Hope you’ve been fit enough to keep dodging em intercontinental flying cement trucks. :-)))) hows the ole ticker?
MWD
Does anyone else believe that Rangers FC PLC (in administration) will soon also be blamed for an increase in alcoholism and liver failure rates around the globe.
I really need to give my body a rest this week.
MWD
MWD –
TAL.
I am not quite 100% but getting there.
The ticker’s fine so far.
Enjoying a very relaxing life right now and after speaking to my employers yesterday, early retirement is a distinct possibility. My wife is all for that, so will see what happens.
Thanks for asking, my friend in Celtic. Much appreciated.
Hail Hail.
Summi. They will be back next year. Its a good show
GD actually played at Celtic park whEn flag went up in 2001