It is scarcely credible that directors of newco Rangers have failed to maintain National Insurance (and, I presume, PAYE) obligations to HMRC. The arrival of a seven day winding-up notice from HRMC last week brings serious consequences for the listed company, who have now required three short-term loans for over the last two months.
This payment is due on the same date every month, it will not be subject to dispute and failure to maintain payments brings the club into dispute with the SPFL, who six weeks ago deducted fellow Championship club, Livingston, five points and fined them £10k, for non-compliance of the league’s tax and reporting rules, which Neil Doncaster said were “an integral part of maintaining a fair league competition”.
The club already have an outstanding charge from the SFA over their failure to stick to a written agreement over the shareholding of Newcastle United owner Mike Ashley. A five point penalty would bring them within three points of fifth-placed Falkirk, who are outside the play-off spots but have won six of their last seven games, pay their bills and will not be subject to a player fire-sale this month.
While newco are clearly short of cash their outlook is not as bleak as it may appear. They have assets they should be able to sell quickly in order to raise cash, specifically players, Murray Park and Ibrox. Rangers went into administration as their liabilities were considerably higher than the value of liquid assets, this is not the case with newco, whose liquid assets will be worth considerably more than immediate liabilities.
In short, an administrator will be able to sell players, Murray Park, Ibrox, or all three, and pay all creditors, so there is no reason the directors should not do so themselves.
There are a couple of observations worth noting:
I’ve never known a company to get to the stage of receiving a 7 day winding-up notice from HMRC which didn’t have many more stressed creditors.
National Insurance and PAYE for wages pad up to 30 November are due at HMRC on Wednesday 7 January. It’s unclear if the £500k loan from Sandy Easdale is sufficient to cover this payment.
Lots likely to happen over the coming weeks but keen an eye on the financial fundamentals: it will take tens of millions of pounds to keep this club afloat over the next few years, even on a very limited football budget.
No one has explained a scenario under which this club is viable. This story only ends one way.
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Gary67 & embramike
I bow to your superior speed :)))))))))
Kris time to deliver son C’Monnnnnnnnnnnnnnnnnnnn the HOOOOOOOOOOOPS
Who are the subs? :-)
Wow. Loving that team if it’s a 4 – 4 – 2 diamond, can’t see how it can realistically be anything else.
Commons in his best position as a second striker, Johansen presumably in behind. Delighted to see Henderson in.
Mon the hoops
Herd Mulgrew was leaving, over the festive period…. Down to Stoke or some sh@t….
I guess because he can’t do 100 metres in 11sec flat.
Funny how he hasn’t kicked a ball under Deila….. But was like Beckenbauer playing for Scotland against Ireland
Glad to see young Joe Thomson on the bench (friend of my son), hope he gets an early 18th birthday present and gets a run out.
Interesting team selection to say the least.
Brave Bhoy. Good to see Henderson, Commons and Scepovic getting a chance.
Jonnyrambo67
Definately an interesting one….. No wingers that’s for sure
SuperSutton (18:58): “Barring an extraordinary performance from the Killie keeper I foresee at least 3 goals for us.”
Every game we play sees an extraordinary performance from the opposition keeper. That is the difference between us and Aberdeen.
Joe Filippis Haircut (19:02), Gran Canaria.
Gary67
So do I when we are 5 up :)))))))))))))))))
Not sure I like the look of the team. Johansen and Commons in the same team doesn’t do it for me. No Griffiths either?
Glad Guidetti dropped. Anyway mon the hoops, I’m away to play 5s and hopefully we’re 3 or 4 up by halftime.
Magnificentseven
18:50 on 5 January, 2015
===================
Spare me from the thought-police and word-sensitivity pish. Either comprehend the jocular context or ignore it, but take your censorship to someone who gives.
Team selection – good to go, as if Ronny’s woken up at last.
Scepovic hat-trick 18/1 Coral.
Curious line up. We collected wingers in the summer, played 2 wide in virtually every game in a 4-3-3 formation, and here we have what looks like a traditional, narrow 4-4-2, and not a winger to see.
Trusting James isn’t fully fit, Berget’s been sent home, Wakaso’s injured and Tonev suspended.
Doc
Aye I know, but ffs, what’s the feckin point, seriously what’s the point.
HH
Good looking team
I predict Guidetti, Griffiths and McGregor will get on at some point, not necessarily in that order.
Caveat that with injury / red card.
SuperSutton .Guidetti has hardly kicked a ball for two years due mostly illness he started well for us but was never 100% fit so he needed a rest.When he gets fully fit he will start banging the goals in again. H.H.
Griffiths benched. So that’s the flavour of the week out of favour already?!
celtic greats on sky 2 now
Gary67
19:04 on
5 January, 2015
Glad to see young Joe Thomson on the bench (friend of my son), hope he gets an early 18th birthday present and gets a run out.
—————-
What position does he play? Can’t see him listed on the Celtic website in either the first team or development squads.
bigchipsuk – honesty, integrity and fair play since 1887
19:06 on 5 January, 2015
SuperSutton (18:58): “Barring an extraordinary performance from the Killie keeper I foresee at least 3 goals for us.”
Every game we play sees an extraordinary performance from the opposition keeper. That is the difference between us and Aberdeen.
——
Interesting point. Been a while since an opposition keeper has chucked one in the bag of the net for us.
Ok ……not sure about the striker option preferred, but hope I’m wrong
Could still be 4-2-3-1……. Johansen shifted out to wide left….. Henderson wide right, Commons behind Scepovic.
No wingers because we don’t have any available. They won’t risk, rightly so, Forrestbon plastic pitch, Tonev suspended Wakaso away to African Cup and Boerrigter in hiding as usual. Guidetti not starting is not a surprise given recent form. Only surprise is Griffiths not starting. Delighted to see young Henderson get a chance, as good as, if not better, than some of the young Scottish talent at other clubs.
joe filippis haircut
19:07 on 5 January, 2015
SuperSutton .Guidetti has hardly kicked a ball for two years due mostly illness he started well for us but was never 100% fit so he needed a rest.When he gets fully fit he will start banging the goals in again. H.H.
—–
I’m with you on that.
Just a couple of fluffed chances in the last two games that showed he’s human.
Scepovic 25/1 hat trick,a cert…..
jonnyrambo67
19:08 on 5 January, 2015
Anywhere across the midfield. Tends to play either right or centre of the three in a 4-2-3-1.
Might be good having Johansen wide left…..means he can only run about in a straight line
Sandman
19:07 on
5 January, 2015
Frankly I don’t care if you give a sh1t or not, just thought I would point it out but fire away, and I thought I had been polite as well
Looks like a midfield diamond with Commons/Scepovic up front
ruggygman
19:04 on
5 January, 2015
Herd Mulgrew was leaving, over the festive period…. Down to Stoke or some sh@t….
I guess because he can’t do 100 metres in 11sec flat.
Funny how he hasn’t kicked a ball under Deila….. But was like Beckenbauer playing for Scotland against Ireland
==============================
Analyse your statement mate. Who is at fault ?
Just because I can:))) my wee goalscorer interest anytime in 90 mins is young Liam Henderson C’monnnnn son
So on balance most on here think its a good line up – just go and win
I like Scep but i’ll give anyone 200/1 on him scoring a H/T the night -))))
I cant stand Clancy as a MIB .
Nice tae Note..
Joe Thomson .. gets a Seat oan the Bench.
This kid..has that Knack of Turnin up at the Right Place.. tae Tap the Ba;
intae the Net..
It’s a Knack.
Ah like Players who Hiv it.. No Many.. Fur Sure..
But..this Kid ..Hiz it.
The Serb is a Surprise..
He musta shown something.. in Training..fur ..Ah hivnae seen Anything fae Him
in The Games that He hiz played..well.. mebbe, a tiny wee bit.. of Something..
Although, Mebbe, Ronny wiz impressed by the Wey he Scored That Disallowed.. (Unfairly..methinks.. ) in hiz last outing..
Who Knows
Henderson, the Bright Spot . Ah Like the Kid,aloater..
Commons?
Don’t Ask
Still Worried Aboot tonight’s outcome..
Come Oan Celtic..
Make Me Happy.
Kojo
Still,Laughin’
We could always go ahead and play Tonev.
Then ,when Donkey’s-arse-ster asks is it’s true we played a suspended player, all we need to say is
‘er……um……naw we didnae’
Sorted.
Hello,
What a great site. What a good article.
T.H.O. – Well played Sandy Easdale for putting your money where King’s mouth is.
Funny how the G.A.S.L. could only find cash to buy shares when he heard about the Yank.
MSM trolls (I know you are lurking) – how about tracking down the ignorant wee harridan that verbally abused Easdale last month (while lauding the perfume flavoured farts of McCoist) and asking her to recant? Nah didn’t think so.
Twelfth day of Christmas tomorrow and Charlie Mulgrew leaving Celtic.
I’ll buy that for a dollar !!! (ask your Dad)
Charlie going to big tough Stoke ? In what capacity? As their gimp? ( it was a joke Charlie – please don’t set about me big hard man ! )
Hail Hail
Burgas Hoops
Replicate the Aberdeen banner and see what happens.
Doncaster Out!
hopefully a good line up, plastic pitch means keep it on the ground and hopefully pass them to death