There have been many questions about the unusual circumstance in football of Rangers going into administration but not making any players redundant. It is possible, and not totally uncommon, for directors of a company in administration to arbitrarily choose to provide funds from their own resources to pay any chosen creditor, including staff. In football, players’ contracts of employment need to be with the club, but the source of payment can come from anywhere.
In this instance, Rangers Group, the club’s holding company, or any other body or person, could be in sufficient funds to provide the administrators with enough money to not only pay players, but to continue operating in a relatively normal state. Rangers’ administrators have already suggested Craig Whyte has guaranteed to make-good wages due to be paid this week, although it was not made clear which entity would be paying, or the source of such funds.
Administrators will only be forced into player redundancies if they do not have sufficient funds available to see them through to the timely conclusion of negotiations with creditors, or if they are unable to receive binding undertakings from another source that they will step forward to pay players next month.
Various sources over the weekend suggested HM Revenue and Customs were prepared to extend generous time to pay terms to Rangers. This club is owned by Craig Whyte. While we all know what a stand-up guy Craig is, how likely to you think HMRC are to believe he will stick to a plan stretching out years into the future? It’s just not going to happen.
I hear a ‘We’ll take a few years to pay too’ campaign is set to trickle through the SPL if HMRC agree to this one. Better using the tax man as a bank than using an actual bank.
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New RTC post.
All,
Just an update on wee Oscar!
He has finished his first stage of chemotherapy (8 cycles) and had a CT scan today to assess the progress (ie how well the tumors have responded).
Smashing news, most of the cancer appears to be gone! All his lymph nodes are clear and the tumor in his liver which was the size of an apple is now very very small!
We couldn’t really have asked for better than that.
There is still a long way to go but progress is good!
Thank you for all your thoughts and prayers and messages of support via twitter @wee_oscar, they really are greatly appreciated!
Think I’ll celebrate tomorrow with a double helping of jelly and ice cream!!! :-)
Knoxy
Sadie’s in !
Big guns are oot…
HH…and respect to the Sadie!
Remind me… why are we arguing about Argentina? Genuinely forgotten… wit aboot the Socialist Republic of Pittenweem?
Sadies bhoy
that’s the philosophy this whole country is lacking!
Well done you.
And I agree about Bass Bhoy & her indoors!! LOL
Apologies for the kisses in signing off… it’s a facebook thing where I’m chatting to friends.
No offence/ undue consternation intended!
:-) x
It’s tomorrow now, and I have so much to do soon enough.
The Beautifull One wants the doors varnished, I have started but the goings on at ibroke is so compelling it’s hard enough, so today I decided to stick a screwdriver through my hand when I was opening the varnish tin, the things we do to get out of things.
Take care and god bless
HH
KTF
Somos el Celtic
Knoxy,
humbled… great to hear that… all the best to you and the family
Jimmy Quinns Bits
You’re no wanting tae get the Pittenweem folks roosed, noo!!!
knoxy2000 eating Jelly and Ice Cream and supporting Neil Lennon says:
20 February, 2012 at 23:02
Great news about your wee boy. I remember him and Vanessa and all the other kids with similar illnesses in my prayers every night. Enjoy your Jelly and ice cream!
MK Huns….
The future!
Can we please end the debate about the word hun being sectarian. It is the word for the supporter of RFC 1872 ( in administration). I have a Collins Scottish Dictionary that confirms this also the following link, please scroll down to the entry third from bottom:
Bleeding I pad, I’ll try again
knoxy2000 eating Jelly and Ice Cream and supporting Neil Lennon says:
20 February, 2012 at 23:02
BRILLIANT news mate, pass on our wishes to Oscar and rest of family. Always in our prayers
HH
TOSB
Started a lesson today on anti racism, a half hour tops I thought.
Two hours later we were still there. I think the weans enjoyed it as much as me!
Knoxy 2000
Fantastic. Love, thoughts and ice cream.
Definition of a hun:
http://www.firstfoot.com/dictionary/h.html
bunburybhoy says:
20 February, 2012 at 23:03
Sadie’s in !
Big guns are oot…
HH…and respect to the Sadie!
……………………………………………..
You’ll be getting me big headed. That’s when I make a fool of myself and get into trouble. celticghirlanew seems far too sensible :-))
knoxy
Absolutely Tony Stokes for the wee barra, your ghood lhady and you.
Fingers, toes, legs, arms, eyes, heids… crossed that the ghood news keeps on flowing.
Hail! Hail!
MWD
celticghirlanew says:
20 February, 2012 at 23:05
Nooo… they’ll dig guerilla tunnels and lay man-traps (and not in a good way) at the drop of a hat
nothing without fans says:
20 February, 2012 at 22:45
praecepta at 22:33
The precedent of Gretna was mentioned in The Scotsman, but it is a bogus comparison IMO.
____________________
Whilst I agree – a number of their opponents had not completed a home fixture against them. To cancel the game and award the home team a 3-0 win would have given them points but would have denied them the income from their home gate.
In theory – the game was meaningless apart from any limited financial benefit to the home club – however it allowed the SFL to complete fixtures without redress to those clubs.
knoxy2000
Great news, and a wee bit of a journey ahead. But all sounding really promising.
How old is wee Oscar ?(apologies, I’m fairly new to this site) – that post really stopped me in my tracks – makes you reflect on the really important things in life.
hang in there.
It’s a helluva climb, but the view from the top of a mountain is breathtaking.
Knoxy
Your family are always in the thoughts and prayers of my family. Great news mate, God bless.
Ps the definition needs to be updated it doesn’t tell you they are in administration!
Sadies Bhoy
yup! very sensible.
But enjoying being part of the CQN banter
HH
:-) x
knoxy2000
Great news.
kickinthenakas-Was over for Paddys Day 3 or 4 times,seen a few LC Finals in The Parlour 2-0 v Aberdeen (99 i think) ,Henrik’s Hat Trick v Killie and a huns one when BBJ missed a late penalty.Great Celtic pub.
knoxy2000 eating Jelly and Ice Cream and supporting Neil Lennon says:
20 February, 2012 at 23:02
Wonderful news mate!! Keeping wee Oscar in my prayers.
Aint so sure about that certain Celticghirlanew!
JimmyQuinsBits @23.03,
Why indeed?
Knoxy
Your good news just made my day, God Bless the Wee One.
Awerabest PJ
Jimmy Quinn’s Bits
they seem like a lovely bunch…….. am I being misled?? LOL
Can’t believe these guys could do anything bad!!
HA!
:-) x
praecepta at 23:11
I think in Gretna’s case it was the right decision.
But in In Administration FC’s case, it’s not about the gate money for a few clubs but the difference between potentially second place, £3m TV money and entry to Champions League qualifying versus last place, £1m and relegation.
Crudentials Miss! Missuss!Ms
I smells a rat perfumed with hun phhffness!
!
knoxy
Delighted for you and your family.
I doubt wee Oscar really knows what is happening which may be a blessing.
Essiac.
HH
KTF
And it smells like…
bunburybhoy
Whit noo???
have I don summat wrong?
:-( x
http://www.dailymail.co.uk/sport/football/article-2104025/Craig-Whyte-used-24m-Ticketus-money-pay-bank.html?ito=feeds-newsxml
confirmation
nah….
you’re barking up the wrong tree Burybhoy