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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sparkleghirl says:
15 February, 2012 at 20:04
As I posted the Court were made aware of the previous dealings and involvement between Grier and Whyte, they were and are aware. However, Dubs and Phelps are as I understand part of a much larger organisation, which I also understand HMRC are aware of. I will work positively for HMRC as the Administrator will need to ensure they are above reproach.
I could be wrong but didn’t Paul McBride say that the Administrator is responsible to the Court. Any sniff of any dodgy dealings and they would be for the high jump.
Couple of other points sorted of related:
There will be no prepack, as I understand it the SPL rules would mean they would need to leave the SPL.
It is highly unlikely there will be a CVA.
Keep the Faith!
Hail Hail!
If Yorkston had a vote to keep his own club in the SPL or Tax Dodgers FC,i think he would vote ” for the good of Scottish football” (sic)
twists
Only 2?
If I was Whyte and was pulling the strings here I’d want the Administration to continue, and for the Administrator to make positive noises, until the FTT tribunal judgement was issued.
I could then blame the liquidation on the previous board.
Either way I be quids in, but I’d want the huns to blame Murray, not me, for the demise of the Club. That way I’d be less likely to have to live the rest of my life in fear of being physically assaulted.
Ayr United 1 – 1 Falkirk HT
With the Killie game going ahead on Saturday what chance a right old knees-up, a good old fans’ favourite day out for the WHOLE gamut of sectarian, anti-catholic, anti-irtish bile? In other words there whole disgusting soing book. I mean, what have they to lose? Points?
Twists
Whit 2?
Dunfermline’s statement is astonishing. They have been stiffed out of £80k by a club who took in £6m for Jelavic 2 weeks ago yet are full of sympathy for them. For them to state that they don’t expect to receive the money also seems ridiculous. Surely they should be playing hardball stating that they need the money. The administrator now knows he doesn’t even need to pick up the phone to negotiate with them. Yorkston will probably offer some of his players to help Ally out.
Celtic should refuse their away tickets next game at their horrible wee midden. Dunfermline obviously don’t need the money.
Do HMRC get updates on the actions of Duff & Duffer? They must know things are too cosy between them and Whyte.
Invercelt says:
15 February, 2012 at 19:41
Being a Nat myself I think thats one of the reasons I’m upset by what he said. He should concentrate on the issues most important to our country, not offering opinion on a devisive, in so many ways non political situation. Self inflicted wound. I hope he realises how he has co*ked up
HH
The administrators are not asking if Cousin has signed, the delay in the paperwork is that they are checking its not George Weah’s “cousin” who has signed :)
Sandman Is Neil Lennon says:
15 February, 2012 at 20:13
BEYOND SCHADENFREUDE
……………………………..
Very fine post, Thank you.
Lubo.
First chance to post – an expected, but still amazing, few days.
I remember 3 years ago listening to Celtic fans calling stations such as Radio Clyde to raise questions of Rangers financial position. “Concentrate on your own club” was the stock reply. I remember Graham Spiers commenting that he didn’t understand the “unhealthy obsession” we had with another team’s finances.
3 years on, the slow train we all so coming has crashed. All of a sudden that problem that we were told had nothing to do with us is, according to the MSM, now our problem as well. It’s laughable.
ItaliaBhoy, you asked:-
“So why no redundancies in the playing staff today? Is the administrator really acting in the best interests of the creditors here?”
I believe the administrator has 14 days from appointment in which to terminate employee contracts. If he fails to do so, employees wages incurred from the date of his appointment will be promoted up to near the top of the creditor pile. Providing he terminates the contracts within the 14 days, the wages due from the date of his appointment for those whose contracts he terminates will languish at the bottom of the creditor pile. In other words, he can effectively retain labour for 14 days without having to pay for it.
I am now on the Bowmore an island just south of South Uist and listening to Blue Nile.
The ferver that is the Rankers team seems saddingly lacking, they have not yet come to terms with the idea that they are now not relevant. The world has moved on and those who seek a new and exciting and athletic future for all our young people are celebrating everywhere. No more, restricted membership, no doubt about your worth as a vibrant and exciting player of worth, cast off the shackes !!!
HH
Remember that this is just the start of the admin period.
Remember that this is before any big tax case result comes in to play.
I was accused of being bitter today at work because I repeated a joke. I’m not bitter I am so pleased. let the games continue I say
Gentlemen – can someone please paraphrase what our great leader Salmond has uttered this evening?
Rangers have clearly acted with criminal intent here and if our First Minister has in any way condoned these actions then he must resign.
Ernie…
Leave the press to their own devices and they would have the hordes believing it was all Neil Lennon’s fault.
Gordon j.
There has been another change. They now owe in excess of 7 million to the debenture holders now they’ve entered admin.
Paul67:
Curious as t your view on the comment attributed to the Administrator:
…Strong assurance that the Club will emerge from administration and liquidation is extremely remote…
particularly liquidation is extremely remote?
Keep the Faith!
Hail Hail!
I really wish the radio stations would stop wheeling out ex rangers players to comment on our club.
Nigel Spackman on radio Scotland earlier telling us all that Celtic need a strong rangers.
Really , Nigel?
Thanks for your input.
Now please go away.
JFH & ernie
I can understand Paul Clark being bullish and encouraging them to get along for their home match with Killie. However, he also gave assurances that the tickets sent by ICT to Ibrox remain valid and he stated this on the record.
That suggests to me that the SFA, SPL or ICT have agreed a deal with him on this matter, on this, his first day in the job.
I remain worried about that.
THE TRUTH IS ALWAYS THE FIRST CASUALTY IN WAR
For those worrying about the positive messages emanating from Ibrox, please remember thee following:
a) There is no tax issue (circa April 2010)
b) Ok, there is a small tax problem but we will win (circa Summer 2010)
c) Tax problem slight issue but not for Rangers, MIH will pay it (early 2011)
d) All debts cleared, Rangers ok (circa April 2011)
e) Warchest, 4 in a row not only possible but likely (summer 2011)
f) ok, a bit of trouble but the league is won so we’ll sort out problems later (Nov 2011)
g) em, administration might be a good thing (Jan 2011)
h) Administration is first step to recovery but we aren’t in admin yet, just thinking about it (13 Feb 2012)
i) Yes, in admin and we got our own people in, everything will be ok (14 Feb 2012)
j) Liquidation, nah, admin just temporary, we’ll be fine (15 Feb 2012)
Can everyone see a pattern developing?
Believe not what the LL/Rangers spin is.
Mort
The Honest…
I’ve argued repeatedly on here against any proposals to boycott away games and will continue to do so.
However, in light of DAFC’s statement I would be delighted to support any future initiatives. An incredible statement!!!
Paul67,
I had an incling (sic) thats what would happen. I’m assuming we will find out who all the creditors are from one of the creditors themselves as I can see no way the administrators or CW will ever publish the full list of who exactly they owe money to.
HH
Now on You Tube Sean Carr Jelly&Ice Cream B Side.Good Fun.
Yorkston is a hun faced turd. If it was us he’d be screaming for blood. Can Dunfermline afford to write off £80,000 with a shrug of the shoulders?
Chris Sutton had the measure of him.
Seanbhoy / TSOAL
To be accurate £16.90 appears to be the going rate. I know this because I called Ibroke today and said ” Hi, I have £20 spare, could you tell me how much a player would cost me”, and the guy on the other end of the phone said to me “1690 ya fenian bassa” and hung up on me. I still don’t know how he knew my name?
Ibramovich is a diddy according to the English commentators….name me an Englishman who has his record…. They wont accept he is a great player until he wins the EPL….
Bada
The rules are update quarterly, but given Ragers circumstances the don’t even have a quarter, till they are supposed to be out of administration.
Liquidation, is still where the smart money is.
mickmacaroon says:
15 February, 2012 at 20:33
…to quote Sgt. Esterhaus on Hill Street Blues…”Let’s be careful out there”…that manky lot are more numerous out there than we think…and the anger is only going to increase as they hear us laugh, understand the truth behind the shambolic running of their football club, begin to see a turn of sentiment, and seeing the ultimate punishment the club will receive…
…I don’t want to see any of my fellow bhoys or ghirls getting hurt…
Hail Hail
Good evening Italiabhoy.
I don’t know the legalities of it all, but I’m sure the tax man must be willing to reach an accomodation with creditors more often than not rather than put them out of business. I also think if the sactions were seen to be harsh it would deter other from digressing.
The gist of my point is that in a ideal world I’d like to see them remain on life support for 20 years rather than get instant gratiication from liquidation and a couple of years laughing at them in the lower divisions.
All the best.
GM
sparkleghirl says:
15 February, 2012 at 20:33
Unless a third party comes in with a lot of money, I think liquidation is the most likely outcome. I too would like criminal procedings but not because I want people in jail. What’s happening just now won’t see them stripped of titles. Superficially the SPL are treating this like a late mortgage payment. I think it would take criminal procedings hopefully against the old board as well would push them into action.
Mullet and co. For me it’s bitter sweet. You’ve got to remember the years of champions league football that have been stolen off of us in the past ten years. Aye it’s great that they’ve been caught out but there’s close to a hundred million pounds missing from our pockets without even considering the tax case.
Neganon2
He said he has been having discussions behind the scenes for weeks that he wants HMRC and RFC to come to some sort of agreement that allows them to continue a payment period if you like. All just my take and not direct quotes
Let’s be realistic here – HMRC are owed £60M plus and are never going to see it all. There’s just no way it can happen and they know that.
At some point, possibly sooner rather than later, they will have a choice:
Agree to an agreement for 10% or less to allow the huns out of admin and therefore send out a message that crime pays
Or
Liquidate the huns and get no money – but send out a very clear message that you cannot mess with Hector.
I know which option I wqould go for.
Silver City Neil Lennon says:
15 February, 2012 at 20:27
sparkleghirl says:
15 February, 2012 at 20:33
Technically they could come out of administration say on 20th March, then on the 21st March be hit with £50 million if they lose and then it is back into Administration…and then the merry-go-round starts again.
I repeat a CVA is highly unlikely.
Keep the Faith!
Hail Hail!
Lennybhoy
Strong assurance that the Club will emerge from administration and liquidation is extremely remote…
particularly liquidation is extremely remote?
Bear in mind this is coming from FF as ‘truth’
I very much doubt you will hear the Administrators say 2 or 3 of the above points in public
As ernie lynch rightly said earlier
“Tell them everythings ok. They are so gullible they will believe anything”
How does all this affect the campaign for Walter’s knighthood?