Craig Whyte’s representatives have seen more court time than Andy Murray in recent months and were able to make the most of home territory at the Court of Session in Edinburgh today by gaining permission to appoint their own administrators, Duff and Phelps.
Scottish Premier League tables across the world will now be updated to reflect the new position which gives Celtic, who scrupulously pay all debts, a 14 point lead at the top of the table.
The hours and days ahead will be worrying times for the many employees of Rangers, not all of whom are on superstar wages, who await to hear if they still have jobs. Worrying times also for suppliers to Rangers, including Glasgow City Council, Strathclyde Police and the many small traders, who will be asked to provide services if Saturday’s game at Ibrox goes ahead.
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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midfield maestro says:
14 February, 2012 at 15:00
3 wins and a draw. Does that mean our winning run has come to a halt?
Hector scores to give Celtic commanding 14 point lead
haha
Paul, that is one of the best titles to a CQN post that I have ever read
thankyou
:)
Sone Aluko has had to be talked off the Kingston Bridge!!
Papac
Healy
Cousin
Aluko
Kerkar
Little
Are all out of contract in the summer. They will have their contracts terminated in the morning.
Steven Naismith will also have his terminated and his recuperation will not be paid for by RFC.
The transfer window does not open for 13 weeks. Davis, McGregor and Whittaker are each on £25k per week. It will cost the administrator £975000 to pay them until it does. There will be no guarantee as to how much any of them will fetch price wise, at the moment with the window closed they are in fact worth nothing. Do they have that money to pay them? Do they have a reasonable prospect of getting it?
An administrator cannot make the position of any creditor worse and HMRC will be watching like 2 hawks on speed.
There will be blood on the walls tomorrow. Rangers fans have no idea what they are in for.
So it has really happened. Everything suspected for so long turns out to be true. They are basically a bunch of conmen who have misrepresented themselves to the whole of football. This has happened not because of business errors or financial misfortune. They have willed it.
Rangers are a total disgrace. I hope the administrator will see that all creditors are paid in full. I don’t see why anyone should suffer when they still have so much that they don’t need to keep functioning. Anything less will be a blight on every supporter of Rangers.
Anyone want to take a bet as to the new owners of R*ngers assets?
I’m going for
CALA homes – Milngavie training ground
Tesco – Ipox park
Lidl – the car park
Aston Villa – McGregor, Davis, Wallace (provided Eck keeps his job long enough)
If as looks likely the poundland mob are found guilty of tax evasion we Celtic supprters have to ensure that any trophies that they won during the period of the tax evasion are stripped form them and give the second team if its the league or the runners up if its a cup the honours and the history books are corrected.Also if they go bust and out of business all players contracts will be null and void so all there players would become free agents so newco will have to find funds to sign players the point im making is that it would be many years before the would challenge for any honours.H.H.
Its Vanessa Phelps. She heard about the ice cream.
Radio scotland reporting that rangers have appointed their own administrator after an unsuccessful leagl bid by HMRC to appoint their own administrator.
All the news that’s fit to print (except it’s not in print) ;)
Watch the MIB. They will be dangerous!
It’s official!!!
Time to watch their advertisers and sponsors, only a matter of time before they pull out.
http://thedrum.co.uk/news/2012/02/14/rangers-fc-administration-ad-agency-and-sponsor-tennents-comment-situation
Big high fives in the Bristol and the Loudens!!! Fudds!!!
Oh the huns are in admin
the huns are in admin
the huns are in
the huns are in
the huns are in admin!
:-)
No newco in the SPL
Davie Provan introduced as a former Rangers man on SKy Sports News.
freudian slip?
Hector plays a blinder in extra time but what if it goes to penalties?
At last, what a day
Nae luck hunsters…that’s what happens when you try to emulate the famous Glasgow Celtic!
BlanK
Not that Phelps. But I like the way ur thinking!!!
Contracts ending this season at Mordor:
Sasa Papac
Kyle Bartley
Andrew Little
Gregg Wylde
Salim Kerkar
Daniel Cousin
David Healy
Shauny O’Luko
You really do have to feel for young Shauny.
Davie Provan –
“It’s a sad day for Scottish football.
“There has been parity between the teams in the past few seasons with a few photo finishes. But this decision today means the title race is over.”
Jesus wept…
.
How can You Win 10pts but Not Score any Goals for..?
#Paranoid
Summa
parcel =>
Mort / ErnieL et al
The administrators have a pecking order of people owed money to the TFOD?
1) Football debts – £1-2mill?
2) Floating Charge holder – CW / Ticketus / AN Other / Mr Big – £18mill talked about
3) Everyone else – not sure if the HMRC have any special place in the queue.
The best the TFOD can hope for is a NewCo to come in with a bid to take as much of he company as would allow them to operate as a football team. The floating charge holder is in pole position in all of this as he will either get al his money back or he will be able to agree any offer that does not cover the debt he is trying to recover.
Couple of questions stand out and any info would be appreciated –
Where does Leeds Utd fit in – 15 point deduction but not demoted?
NewCo will not inherit any of the TFOD’s outstanding issues – the administrator will have those to sort out?
What value does the TFOD brand and stadium have in the real world?
Is the MSM / LL big push for continued SPL membership a ploy to maximise the value of any NewCo sale?
How many of the TFOD fanbase will walk away from any NewCo – 20% is my guess?
Runners and riders for any NewCo – Clyde Blowers / West Coast Capital / Parks / Lottery winner / Ludge Collective?
Davie Provan spouting nonsense on SSN
Russian transfer window closes in 10 days time, btw.
Aluko practices his diving off the Kingston Bridge every day
Hail Hail
Would the petition by HMRC to court not be one that Rankers were not in a fit state to trade and that the court should appoint administrators and not that HMRC would go on to choose the administrators.
Is it also the case that HMRC have achieved something critical in making Rankers jump into administration rather than having 10 to 15 days to tidy up the office before the administrators move in ?
What is the local face of Duff and Phelps, are they a local firm to Edinburgh or Glasgow ?
C’mon Motherwell, you can leapfrog them into Europe.
HH
JFH @1505
That’s the main thing for me , that all trophies won while cheating are stripped and awarded to the runners up in that competition.
Provan is a real Uncle Tim. He said that there would be no competition and that would be bad for Celtic.
All the years he worked on Clyde did he EVER say Rangers winning 9iar was bad for the game?
Filthy.
It have been parity but now its PARTY TIMEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
Charles Paterson – SSN – what’s his story? Is he a bluenose? Seems like a decent guy either way?
Huns in my office if rangers win the league now what an achievement!!
Is the contract tearing up true??
MadMitch says:
14 February, 2012 at 15:10
I dont think there is any chance of a Newco …. NONE WHATSOEVER
Hail Hail
Ludge meetings tonight????????
Just been told Aunt Sally tried to organise a Family day out last Sunday for the players and families. It had to be cancelled because not one taxi firm would come and pick them up as they were all asked if the club could open a tab.
From a Taxi driver!!
Still people coming out with this ’emerging debt-free’ rubbish.
The appointment of his own administrator is great news for Whyte.
But
It is terrible news for the club and hmrc and all the others owed money.
he will strip it bare and leave nothing to save or to save with,
——————————————————————————-
Paul67
On another note
Just received my 1st copy of the CQN Mag.
Really impressed with the quality of the production and the look and feel of it,
Many congrats to you, james Forrest and everyone involved.
Thats good enough to be in the shops for sale.
HH
Mike