This evening’s announcement by Dunfermline Athletic that they no longer expect to receive timely receipt of the £80,000 ticket money Rangers FC PLC (in administration) owe them will heighten concerns at Inverness Caledonian Thistle, who have a stock at tickets with Rangers right now, money for which will be received by the administrators in advance of their game later this month.
The administrators have yet to decide whether to retain high-earning players or make more funds available for existing creditors, and future creditors, like Inverness. As ticket sales for the Inverness game are on-going, the administrators will need to be aware of their legal position before retaining a premium squad.
One final push (this week) for the Vanessa Riddle Appeal. We have a Celtic top signed by the first team squad available to auction on eBay. You can bid on the auction and help send Vanessa for the treatment she needs by clicking here. Thanks to Penfold for the donation and to Taggsybhoy for organising (yet again).
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Ibrahimovic does a Broonie as he scores penalty, which he cheated to win. 4-0.
Just had a thought. See all these Rangers players paid via EBTs or those this season whose NI contributions not passed on to HMRC. Say some who might not have been on a lot of money, will they find it difficult with pensions in years to come?
Mort
Zlatan 4-0
When that boy is on his game he is a star.
Nakagod says:
15 February, 2012 at 21:18
Ha! Figured! 4-0 Milano!
Lovin it, listening to those English commentators squirm!
Best League in the World my Arsenal!
Mort says:
15 February, 2012 at 21:26
I was wondering that also. Isnt an EBT a form of pension funding?
Ibrahimovic looks a wee bit like Blakey from ‘On the Buses’?
Great player, but is he good enough for the EPL?
*eejits*
BontyBhoy says:
15 February, 2012 at 21:21
The huns are crrently running at a loss of about £10m per annum.
Their debts (HMRC, Whyte, Ticketus, the Debenture Holders etc etc) are likely to top £100m.
They now are obliged to run at a profit. That means slashing their wage bill by £10m pa.
That will affect their performance on the pitch.
That in turn will affect the crowds. They’ll have attendances like the john Greig era. So income will fall even further.
If you think that that scenario allows room for any sort of payment plan you are financially illiterate.
Rosisky shoots!!!!!!,,,,,,………
Shy
Mort,
I thought any tax bill was a liability and only becomes a non liablility if the appeal is won
Nakagod @20.39 on 15/2/12,
Don’t know if you’re old enought to remember, but Alex didn’t hesitate to divide the SNP over 30 years ago, setting back progress towards Independence: I thought he’d wised up since then.
Maybe we should continue the discussion off this blog.
bournesouprecipe says:
15 February, 2012 at 21:29
Their commentary is utter mince, the only reason I’m listening to their tripe is because I would have to place the laptop off my lap and go across the room for the handset!
Oh I do enjoy seeing Arsenal getting pumped
setting free the bears says:
15 February, 2012 at 21:15
That says it all.
To be fair, big Zlatan has been unplayable tonight.
bournesouprecipe says:
15 February, 2012 at 21:17
I agree, the BPL is dropping like an invisible stone.
David Prowse says:
15 February, 2012 at 21:27
I’d rather spend time with my greetin faced weans than watch stoke v blackburn lol
HH
Excellent news that Lord John McFall is taking a keen interest in the tax affairs of the Cheating & Thieving Darkside.
He was most impressive in chairing the Parliamentary Select Committee investigating the Banking Scandal..
I seem to recall that he was one a Chemistry teacher,in the school once attended by Jim Murphy MP.
The news that Spiers is to be employed by The Scotsman will be a Stake Through The Heart for Leggoland2,lurking in his sulphurous den….
(Laughing)
Rubicon says:
15 February, 2012 at 21:21
Hope you’re well Rubicon.
In response to your observation, someone pointed out earlier that the Administrator has up to 14 days from the start of the administration to decide who goes and who stays, they don’t need to pay the staff for this period, as they go to the bottom of the creditors list, whereas after the 14 day period they would have a higher priority on the creditor list. Therefore potentially a period of “free” labour.
Obviously Whyte doesn’t care whatsoever what happens, the administrator will do what is best for the creditors, they may have taken the decision that utilising as much of the 14 day period for as many staff possible is in the best interests of the club as a whole, if not the individuals involved.
hh
Bjmac
https://twitter.com/#!/_Inno/status/169885999898435584/photo/1
The protest at the tax payers stadium today.
Lubo.
The Blogger Formerly Known As GM says:
at 20:14
…
>>>> and a consortium of orcs buy the fixed assets for £25m and start again debt free.
…
Where would they find such a consortium? 9 months ago, they couldn’t find anyone else other than our hero with ‘his’ £18m. Their independent board objected to him and still he ended up owning the club.
Although I think there’s enough to be concerned about here. My biggest (read ‘only’) disappointment at yesterdays shenanigans was that HMRC were not granted their wish for the court to appoint an administrator. I know almost nothing about the Administration process but by appointing a company as an administrator who has a partner that is a known associate of the person he is relinquishing control from, is at best described as suspicious.
Are there any legal safeguards against the behaviour of Administrators? Are they accountable for their decisions? If so, to whom?
Had HMRC got their wish yesterday I believe that the chances of a Newco playing at Ibrox again, (and thus any perceived continuity of their ‘culture’) would be much less than they are now..
Rubicon
I also was expecting the axe to be weilded.
Perhaps there is enough left in the pot to carry on for a time, after the game on saturday for example.
A good crowd should pay the admin co, then they shut up shop.
Sandman Is Neil Lennon says:
15 February, 2012 at 20:13
Administratively speaking sir, your post gets my vote!
Take a bow:)))
GaelicForSchadenfreudeIs?CSC
Invercelt says:
15 February, 2012 at 21:31
If Scotland was independent Salmond would save the huns, wouldn’t he?
Lubo
they are missing a turn there; £1 a go on the bouncy castle. Needs must.
Bsr
Thanks! That’s me dropped a couple of cup sizes as well!!!!
Hope you’re well :-)
hh
bjmac
SC -Falkirk 1 Ayr Utd 2 FT
Bourne
Does he wear THAT hat to distract the eye of passing observers from those beauties??
Ernie
The better question is could he?
Where would the money come from?
ernie lynch says:
15 February, 2012 at 21:29
Agreed – this is how I broke it down this morning. Right now, they’re not a viable business. No matter how far they downsize.
So Margaret Curran stated that Rangers shouldn’t be cut a deal in terms of the amount owed but hinted that a long payment plan might be the way forward. Well I can only guess that she hasn’t looked at the figures involved too closely because (and I know you know this) as it stands Rangers FC isn’t a viable business.
We are told by Craig Whyte that Rangers essentially operate at a £10M loss, and why should we doubt him, that’s more or less what he failed to pay HMRC in the last 9 months.
Putting Ticketus aside for a moment, based on average gates, should the Rangers fans rally behind the cause and they sell out of season books there’s only an increase in revenue of around £2.5M. There’s no where else to increase income. So we’re down to £7.5M loss.
I think the £75M is the total of what’s likely to be owed (inluding yesterday’s new £9M), so what kind of payment plan is she talking – 10, 15, 20 years? I’ll plump for the middle 15 years – £5M/season. So costs are now £12.5M over income.
Essentially the only way to meet that is to cut the football wage bill, since most other costs are relatively fixed. Taking £12.5M off the wage bill would bring it down to somewhere just above Hearts’ wage bill, based on it being around £22M (which I think is what CW stated it was).
Do we think Rangers can sustain a sold out season book allocation, while fielding a squad of around Hearts level? It would only take a loss of around 20k season seats to leave Rangers with no money for football wages.
Except of course there is a Ticketus deal. Which knocks a further £10M off their income in the next 3 seasons.
It’s worth repeating what’s been stated by many people. Rangers need somebody prepared to lose £100M straight away if they want to continue as is. Then be prepared to put money in year on year even to sustain a drastically downsized Rangers. In my view such a person, or group of persons does not exist.
We generate somewhere in the region of £4M more per season based on our larger support. It cannot be stated highly enough what a difference that makes to our relative stability.
Invercelt says:
15 February, 2012 at 21:31
I was just heading for high school back then but have a vague memory. Always happy to chat.
HH
Big-Cup-Winners at 21:12
Would you be in line for a ticket for Ibrox?
The players have a right to our support, particularly in that midden, so don’t agree with not taking tickets for the game.
Ernie lynch.
Wonder what kind of interest they would have to pay on 100 million pounds each year?
They’d be paying more than 3 million a year to keep up with inflation.
The ten milliOn black hole they reported didn’t even take into account transfer fees.
What’s that? They need to pay transfer fees to Murray to even get a youth player from the conveyor belt?
It’s checkmate. It’s over , time to surrender.
Can’t wait for Arse Wenger’s comments after the game, the Jim Jeffries of English football, moan moan moan
prestonpans bhoys
Same here, they never fail to amaze
Nakagod at 21:29
I was wondering that also. Isnt an EBT a form of pension funding?
In theory yeah, but only if players use it properly.
Mort
I am absolutely disgusted with the bleating party line that “for the good of the game in scotland” this cheating clutch of crooks must get an easy ride.
Good of the game? what “game”? if they do receive any favourable treatment with regards to TAX EVASION and ILLEGAL tax strategies in business, then the “game” is indeed a bogie.
To hear our politicians, in fact none other than our supposed esteemed first minister, wail on about how concerned they are for rangers future makes me feel actually physically sick with anger.
I can’t even put together a coherent post to explain myself succinctly, this turn of events has really f**ked me right off, i knew it was coming, I knew the apologists would up their game and like the MSM they would all adopt the stance that the cheats should catch a break, i knew it only too well but I just wasn’t prepared for the way I feel about it.
HH
“Infamy! Infamy!” cry the Ragers. “They’ve all got it in for me!”
Word reaches me that they will liquate. It’s “inevitable and unavoidable”
Bye bye huns.
Morarbhoy @ 21:20
I read a piece earlier in the week that indicated Hector would indeed chase any phoenix company that tried to shirk their debt in this way.
Tonight I am thinking about a lot of things and many great Celtic men in my family.
My mind always wanders to Tommy Burns. He could not be held in higher esteeem by the fans, a borderline saint with the common touch, great player, great manager, truly outstanding man.
Without the financial doping of the 90’s TB would have won a couple of titles as Celtic manager. Denied not by Goram as we thought at the time, but by brazen, financial impropriety. But, in the final analysis, it doesn’t matter, we have the wonderful memory of Tommy and it does not matter if he held cups aloft or not – he is a saint.
TJ