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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Right they’ve been rumbled, the SOE guy that jumped oot the plane was seeing the Irish burd, the other SOE, burd, just shot him, so we’re back on track.
Wonder what happens to the Irish burd…These films must have been right good in releasing tension..!
Bit of irony regards greyskull….All this skullduggery…
Awe gees we’ve now got an SS officer giving information to a Catholic priest who’s part of SOE.
Must be to even it up, those Micks they ain’t all bad…!
Ayrshire is Green and White
STARRY PLOUGH
Who set up the scouting system?
Who does it report to?
We don’t need a scout I can Identify 3 players fromost opposition teams who would improve ourv team..
From DUFC and AFC there are probably 8 players but my immediate 3 player purchased would be:
Ryan Jack
Stuart Armstrong
Gary MCkay – stevens
Saint Stivs
15:14 on
5 January, 2015
people keep saying ………… so who would you get to replace lawell as CEO,
well hows about whoever is in charge of Aberdeen.
Turnover up, profits up, Debts reduced.
its not rocket science
SAINT STIVS
FFS,yer talking tae yersel noo!
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
I would imagine to the CEO but the responsibility for scouting the players remains with John Park no?
I’ll tell ye I wouldn’t get anyone in this film to replace Peter Lawell, you couldn’t trust any of them…!
I draw the line at SS traitors, surely no…
Ayrshire is Green and White
starry plough
15:25 on 5 January, 2015
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
I would imagine to the CEO but the responsibility for scouting the players remains with John Park no?
₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩
Never mind the CEO? I want to know how this SOE traitor managed to jump into occupied Europe, I mean he was going with an Irish burd that’s what gave it away.
Ayrshire is Green and White
Saint Stivs
15:21 on
5 January, 2015
Saint Stivs
15:14 on
5 January, 2015
people keep saying ………… so who would you get to replace lawell as CEO,
well hows about whoever is in charge of Hibs
Turnover up, profits up, Debts reduced.
its not rocket science
Pump…
…And dump.
That is all…
Apologies if previously posted…took this from Daily Rectum via News Now Celtic…
It was claimed the club had been served with a seven day notice by the authorities over the default and that, had it not been cleared by midday today, then legal proceedings would have begun.
The SPFL were unaware of the situation despite having an early warning system in place with HMRC which notifies them of any potential tax disputes involving any member club.
But after learning of this morning’s reports Doncaster and Blair – who docked Livingston five points for breaking the same rules earlier this season – moved swiftly to discover if Rangers were next in line for a punishment.
Doncaster confirmed to Record Sport: “On the basis of the information we have received we are satisfied there has been no breach of rule E20.”
WHO IS KIDDING WHO HERE?
When will Member Clubs take a stance on thes “whitewashes?”
Fergie strategy at Man United.
Who are the best footballing team in the league?
Buy their two best players.
It’s not difficult
LB
Re: micktt
Against the Wind on Film4 Sunday 11:00
Watch out for those Nazi collaborating Micks who leave their floodlights switched on
MIKE BOYLE
Is E20 not a chess move,a defence in times of dire need?
Coincidence,I think not.
LiviBhoy
15:33 on
5 January, 2015
========================
There are no players in Scotland currently better than we have at Celtic.
The “investigation” which unsurprisingly finds that the Huns will not be deducted points – all conducted in less than half a day- surely confirms just how corrupt the game in this country is.
If I were in charge of Hearts, Hibs, or QoS, I’d be talking to my lawyers right now.
E20.
Chess – now we’re talking .
E2O is the opening of the Nimzo- Indian defence.
Bawsman
15:38 on
5 January, 2015
LiviBhoy
15:33 on
5 January, 2015
========================
There are no players in Scotland currently better than we have at Celtic
——————————————
other than the goalkeeper position, i could name a team of players that are PERFORMING BETTER that what we have at celtic.
Current celtic squad v Kilmarnock
03 games 2 shut outs lukasz zaluska
01 games 1 shut outs Craig Gordon
24 games 3 goals Scott Brown
13 games 4 goals Charlie mulgrew
11 games 0 goals Emilio izaguirre
09 games 5 goals Anthony stokes
09 games 7 goals Kris commons
09 games 2 goals Adam Matthews
08 games 0 goals James Forrest
07 games 0 goals beram Kayal
05 games 0 goals efe Ambrose
03 games 0 goals Virgil van Dijk
03 games 0 goals teemu pukki
03 games 0 goals Stefan johansen
02 games 0 goals derk boerrigter
02 games 0 goals Leigh Griffiths
02 games 2 goals amido blade
01 games 0 goals callum McGregor
01 games 0 goals Darnell Fisher
01 games 0 goals Jason Denayer
01 games 0 goals Liam Henderson
01 games 0 goals aleksandar tonev
01 games 1 goals Stefan scepovic
01 games 0 goals filip twardzik
01 games 1 goals john guidetti
01 games 0 goals wakaso mubarak
Bawsman
15:38 on
5 January, 2015
LiviBhoy
15:33 on
5 January, 2015
========================
There are no players in Scotland currently better than we have at Celtic.
_______________________________________________________________________
If True::What does that say about our manager
Mike Bhoyle.
WHO IS KIDDING WHO HERE?
When will Member Clubs take a stance on thes “whitewashes?”
Never is prob the answer Mike, the other clubs regard us as the other half of the O** F*** they look after their own.
They dislike us more in my opinion,
This is the time for all clubs to demand full disclosure on this issue. It affects all of them.
Now, it may well be that we have just witnessed yet more incompetent churnalism from the Daily Record. And that may be the end of it….
But the genie is out. Only full disclosure of the facts will now satisfy followers of Scottish football outside of Ibrox
God bless her Majesty
http://www.bbc.co.uk/sport/0/football/30678270
Terrible thing to admit but it’s getting to the point where I no longer care who we sign during the transfer window or even who wins the league. Until our game is cleansed of cheats and enablers, then what’s the point of us the fans in ploughing our money into a rigged game? Doing so in some absurd way pretty much makes us enablers too. Our hard earned is propping up this continued farce, perhaps it’s time we (supporters of all clubs) made a financial stand and said, no more!
I have no idea if or how it would work but I’d like to see the supporters of all SPFL clubs come together and issue a collective statement. Something along the lines of no season tickets will be purchased for next season until there has been a complete clear out of the SFA/SPFL and the issue with Rangers has been dealt with properly.
Might be extreme to threaten our clubs with hitting them in the pocket but what other cards do we hold?
Perhaps an ill-conceived idea but something drastic needs to be done to force change.
HH!
s` revenue & customs
Never mind The Zombies
We are self combusting.
IF the stories of us trying to buy Kayode from Israeli football are true,then I really do fear that we are continuing I’d a road to wreck and ruin.
Bangura has a better goal scoring record.
If Deila sanctions this then he is a bigger yes man than I thought,and even poorer judge of what this Celtic side needs.
When does someone challenge the signings recommended by Park.
We had better win tonight because there is very little margin for error.
Tonight is the biggest fixture of our season.
We only seem to play well against 10 men.
I travel to Killie thinking that it could be a turning point in our season.
TT
Sorry
02 games 0 goals mikael lustig
Hail hail
bawsman-i think John McGinn is a better left sided midfielder than we currently have.HH But i wouldn’t pay more than a million for any SPFL player ,to be honest.
Thanks
21-5-79
14:17 on
5 January, 2015
Info on the Inter tickets from official site;
Season Ticket holders will have the opporunity to purchase additional tickets at the general sale price on Wednesday, 7th January Subject to availability, tickets will go on general sale on Thursday, 8th January. General sale prices are from £35 Adults, from £25 concessions and from £20 for Under 13.
Micktt,
Don’t leave us hanging. What happened to the Irish bird, the Catholic priest and the parachutist. This tension is unbearable
HH
Celtic are believed to be very close to securing John Guidettis signature on a permanent basis they have agreed to pay Man.City 3 Million pounds for the player although City value him at 7 Million.City have agreed to accept the 3 million as they apparently need to sell before they can buy and also the player is very near to the end of his contract with them. H.H.
tinytim-seems like this agent who works the Isreali market,is the only guy we deal with…….
Cultsbhoy – 8 players between DUFC and Aberdeen who would improve our team?
Aye right you are.
I think people need to be aware of the difference between playing for any other Spl side and playing for Celtic!
In response to this I would say that every member of our first team squad would be a stand out in any Spl team.
Stokes and Griffiths were head and shoulders above their team mates, Niall McGinn couldn’t get near our team.
It’s almost a different game playing for Celtic, such is the park the bus nature of your opponents.
Bada Bing.
We need someone to play alongside Broonie. McGinn is that man. He is the only player in Scotland who I think would walk into our team. There are others out there, but I think they would be squad players. Which I think we have enough of.
joe filippis haircut-not a chance paying £3mil for a guy we can sign now on a Bosman,i heard the 3 mil was a deal for both JG and Denayer.HH
Bedtime down under
Safe trip to all heading to rugby park
Let the music keep your spirits high
Doncaster out
Lawell out
Nada Bing – John McGinn! I’m at a loss.
Johansen, Wakaso, Tonev, Mulgrew, Forrest, Commons. All better on the left than McGinn.
Stuart Armstrong is the only Spl player who ‘maybe’ would get a start for us.
I’m fine with signing some Scots but let’s accept they would be projects and squad players.
guernica
You are right – but it does mean that factors such as “mental strength” and “leadership” really matter when you play for Celtic. MON’s team was littered with strong characters.
Apart from Gordon and Broonie – not sure who our leaders are in the current squad?