This afternoon’s statement from Octopus Investments was very professionally written piece. It was designed to give investors a sense that the business has taken appropriate steps to secure money spent with Rangers.
For a start, we now know their company, Ticketus, “purchased tickets for Glasgow Rangers games for a number of seasons”. This clarifies one matter, money received by Craig Whyte’s solicitors back in May last year was a straightforward purchase, not a loan, so VAT was applicable, and should have been declared and paid. We can assume this VAT was not paid, whether it was declared or not will determine future consequences.
Octopus explain their investments are “designed with capital preservation in mind”, with “appropriate security being available” and “extensive due diligence”.
A reasonable interpretation of this is that the company have sufficient security to ensure that they have rights to sell Rangers tickets for parts or all of the stadium in years to come, although, the company stop short of making a firm statement on what is, after all, a private commercial matter. They add that “no trading activity is risk free”, no one can assume there will be a Rangers in the future, and while their statement mentions Glasgow Rangers, it does not specifically mention a legal entity.
A floating charge exists over the stadium in Craig Whyte’s favour. This would see the stadium revert to Whyte in the event of the club being liquidated. Octopus may, or may not, have a claim on this floating charge.
Armed with this information, the administrators and Strathclyde Police will be keen to learn why none of the money for Rangers tickets went into the club. Perhaps more importantly for any potential phoenix, questions remain over exactly who owns what claims on the stadium.
There could be a lot of sentimental photos being taken at Ibrox tomorrow.
All levity aside, this club is enduring a seemingly unending trauma.
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clyde – good God !
despite the financial worries Rangers have been installed as 1/2 Favourites to win the league next season…Stranraer are second Favourites and Berwick 3rd Favourites…:)
Keep the Faith!
Hail Hail!
If they come out of Adminisrtation before the end of March it will be the biggest farce in Scottish history.
Celtic fans (and no doubt the rest of Scottish fans) feared we/they had been cheated for years and this week confirmed it.
I imagine SFA have been put under severe pressure from serveral member clubs to investigate RFC pre Admin. I just wonder how keen the SFA are to seriously investigate them lets face it any one the fiddles the taxman will do anything to get results go their way.
I don’t think there is any doubt now that rangers would have expected favours from certain referees.
Tax evasion can only be the tip.
It’s a scandal and it’s criminal but imagine if we wake up on March 31st and it’s only been a Dallas type dream.
hamiltontim says:
17 February, 2012 at 19:11
What you do in your private life is nothing to do
with me,unless it concerns Celtic :O)
Keevins “If Celtic went out of business Celtic fans wouldn’¡t go watch any other team either”
yes I bloody would. I’d go watch Albion Rovers, JUST LIKE I DID DURING THE BOYCOTT SEASON
Call-of-Juarez @19.07
The Church of Scotland minister wheeled out by Reporting Scotland tonight, Reverend Stuart MacQuarrie, has some strange attitudes for a man of the cloth.
A few years ago he tried to claim that the Fields of Athenry was a sectarian song.
Almost twenty years ago I had the pleasure of watching Rev MacQuarrie turn purple with rage when presenting a player of the year prize to one of my younger cousins who played in his Boys Brigade team. The prize included Rangers paraphanelia which my cousin refused to accept informing the Reverend:- “you know full well I support Celtic.” MacQuarrie was incandescent with rage.
I remember thinking that it was ironic that he would try and claim the “Fields of Athenry” as being sectarian especially when he held an attitude that anyone playing in a BB team should support Rangers.
Gordon Dalziel -now looking for a underground shelter after that calll from a fellow knuckle dragger.
Amazing how Delahunt let it go on, he’s great at cutting Celtic fans of he knows have a wee bit about them. Then lets that happen, poor Gordon. Maybe Jim’s good side prevailed.
They are imploding quicker than I certainly realised.
I really fear a violent backlash from these sad excuses for human beings as it gets worse and worse by the hour.
the glorious balance sheet says:
17 February, 2012 at 19:16
McQuarrie ,man of the cloth ,Bigot.
I don’t have any inside info or impeccable sources, but I have been Donald Park is one of the ‘peepil’ making enquiries.
setting free the bears says:
17 February, 2012 at 19:14
……………………………………………………………………………………………………………………………
The guy with the fhony name on, SSB should factor-in a cut off point or, his points become a tad long-winded! IMO!
Hail! Hail!
Hit it big man!!
TerryONeill CSC
Quality gold on Reporting Scotland the female reporter telling us the tickets are almost sold but you can still get your hands on these and then holds up a ‘Lucky Bag’…I’ve only just stopped laughing…:)
Keep the Faith!
Hail Hail!
Shug hey shug! Av went right tonto wi a rambo knife…whit dae yiz fink aboot rat…eh eh shuggster…see awris stuff aboot ra ranjurs…
Clyde is like the psychiatric hospital radio the night
oh my god , clyde arguing there is a moral right that the admins pay debts. Let’s remember morals when hmrc result comes true. sensible rangers fan on now
Kevtic
A while ago, Paul alluded to the dossier, did our then chairman not say the club were in receipt of info that would bring scottish football to it’s knees, I also spoke to someone who said that he had seen info regarding refereeing reports, and he said that it was bigger than the Italian scandals re match fixing.
Will it come out, I sure as hell hope so.
Paul67 ‘All levity aside, this club is enduring a seemingly unending trauma.’
All levity aside, Paul, I’m LOVING it. Long may the schadenfreude continue.
Rangers Fc, currently the football equivalent of Jack Nicholson’s crazy-mental Johnny in kubrick’s ‘The Shining’ – Charging around the snow and ice-bound maze locked in their own fermenting madness, with NO WAY OUT.
setting free the bears says:
17 February, 2012 at 19:21
……………………………………………………………………………………………………………………………..
Wrong post.
Sorry m8.
Hail! Hail!
Joe Filippis Haircut says:
17 February, 2012 at 19:09
St.John Doyle I think your giving Salmond to much credit if he was chaseing votes why aim at the Unionist voters better to aim for the republican vote.I think yesterday what we saw was Salmonds mask slipping and showing his bigotry for me it was a wake up call to how tims would fair in an Independant Scotland headed by Alex Salmond one of the bst adverts I have seen to vote NO. H.H.
*********************************************************
Salmond is a very clever politician I should know as a member of the Labour Party he has single handledly dragged the SNP from a Party in decline to a majority Govt.
He also was clever enough to get the Catholic Church on board while still doing deals with the Orange Order no mean task.
He clearly thinks now he has secured the Catholic vote and he now has to pander to the KKK vote even if he has to ditch us. He must have done the numbers and think he needs the KKK vote more than Catholics of Irish extraction.
THE EXILED TIM says:
17 February, 2012 at 19:23
noooooo
not this again…..
extremely savvy rangers fan on
Paddy Gallagher says:
17 February, 2012 at 19:20
I don’t have any inside info or impeccable sources, but I have been Donald Park is one of the ‘peepil’ making enquiries.
————————————————————–
Perfect for the wattenacio style of parking the bus.
Huns need more money than guys got.
I would go for the lassie who makes the dresses in big
fat gypsy wedding,she must be loaded.
Re the cousin thing . Did dellahunt say tried to register him or tried to sign him(I thought he said tried to sign him) if per administration Huns have done a deal, then they are just chancing their arm to get him available for selection Saturday, sack on Monday. But trying to sign him…
Is there a difference, or am I reading this wrong?
Paddy Gallagher,
Do you mean Douglas Park of Parks of Hamilton? He would not have enough wealth on his own, but I could see him possibly featuring in a consortium.
Finding it quite difficult just now to juggle the demands of, CQN, SSB and a, very demanding wife!!!
back later….
Hail! Hail!
Another wee snippit.
A sell out at Rentdome tomorrow?
Strange that they should’ve given over 120 tickets for schools yesterday if demand (and need for cash) is so great!
Royal Mail owed £3k and not uplifting mail.
Shell declining company fuel cards!
It gets better by the minute.
voguepunter says: 17 February, 2012 at 19:19
the glorious balance sheet says:
17 February, 2012 at 19:16 McQuarrie ,man of the cloth ,Bigot
VP – that nugget McQuarrie came to my brother-in-law’s Ordination. Nearly wet myself when Canon Gibbons mentioned that the Green and White flowers on the Altar were just for him!!
My thanks to …PFayr:
For those who are in DEBT, whose cry was No Surrender,
For those who are obsessed, who hate those who are Blessed,
Inebriate yer minds, Kid-on there’s nae depression,
Open up yer ears, we’ll sing for you this song
Let ‘the peepul’ SINK, intae O-BLI-VI-ON,
wi aw yer bigot marchin’ bands
yer union flags, yer wee red hand, and men frae doon the ludge,
who joined it ‘holding hands’,
Let us sing a song for you
The BHOYS on every Glagow bus
we’ll sing because we know it’s true,
The hunS are really going BUST!
Keep the Faith!
Hail Hail!
Good evening Celts, work done for the week, re- stocked on the bubbly and all set for a weekend of fun, football and fritza!
Have I missed owt?
V
St.John Doyle Fella thinking you have something in your pocket (the Catholic vote) and moving on to a direct oppossition group to try and get them in your other pocket is not in my opionion the sign of a clever man.However,like you I do think he is clever even clever people can make a fopa now and then and yesterday for me he shot himself in his foot.H.H.
voguepunter and hamiltontim
Can youze two no go an’ get a room and sort it out?
Unresolved issues? I’m sure the MBB can point you in the direction of a good(compliant) lawyer, or, even better, a friendly administrator.
That’s how CW sorts everything out, whilst pleading total innocence, and he can’t be wrong ‘cos his wealth is off the radar – or was that under or does he have stealth technology?
Have a nice evening
Alex
eirecamper
Ok. not a bother…:>)
kelvinbhoy says:
17 February, 2012 at 19:30
Would love to have seen that,used to do the labour
leaflets for that bigot.better calling him McQuarrie bar.
Seen on stv news 2 rangers fans showing off their tickets for the game the morra ……….£10.00 per ticket.
voguepunter says:
17 February, 2012 at 19:25
:-)
the glorious balance sheet says:
17 February, 2012 at 19:27
Paddy Gallagher,
Do you mean Douglas Park of Parks of Hamilton?
*************
Yes mate, Douglas Park, apologies. I was told he is heavily involved in the background.
AAFG says:
17 February, 2012 at 19:31
Keep out of it,or p4 girl will make you next on the list.
voguepunter says:
17 February, 2012 at 19:25
Paddy Gallagher says:
17 February, 2012 at 19:20
I don’t have any inside info or impeccable sources, but I have been Donald Park is one of the ‘peepil’ making enquiries.
————————————————————–
Perfect for the wattenacio style of parking the bus.
Huns need more money than guys got.
I would go for the lassie who makes the dresses in big
fat gypsy wedding,she must be loaded.
*****************************************************
I think it is a certainty that Douglas Park will emerge as 1 of the main players, I am told he nearly bought the club about 4 years ago for around £14million, he then pulled out when he saw the books and still had to maintain the outsourcing to Murray’s companies.
Murray never took him pulling out very well heard some nasty words were exchanged by 1 of Murray’s henchmen.
VP
odious bigot
Hearing rumours of some Czech’s being interested in the huns
anyone hear anything?