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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knoxy2000 eating Jelly and Ice Cream and supporting Neil Lennon says:
20 February, 2012 at 23:02
All,
Just an update on wee Oscar!
Great news – delighted for the wee lad and all the family.
hamiltontim says:
20 February, 2012 at 23:08
I loved it when that happened. When you’ve got their interest you’ve got to go with it. Glad you and the pupils enjoyed it. It gives you a great feeling of having achieved something when a lesson goes well like that. Your big problem now will be catching up on all the other stuff.
Celticghirlanew
He’s only 3 ffs. Poor wee guy.
He has a blog if you are interested http://www.oscarknox.blogspot.com
Sorry if already posted, tweet from Bishop Crosas;
Bishop Crosas CSC’s Profile
Bishop Crosas CSC
OFFENSIVE BEHAVIOUR AT FOOTBALL ACT coming march 1st
attended a meeting with the police team that will run the offensive behaviour act coming march 1st with Scott Meehan so any follow up questions just direct to me and him
it went on for a while so ive done my best to summarise as we talked about things and as you will appreciate 70% + of this will relate to Celtic fans as that who we was there representing
scott if you can add anything ive missed as my head was pounding in that meeting ha ha
no use or add ons of the IRA in songs and for other teams mentioned.hearts with famine song.rangers famine song.aberdeen with ibrox disaster
question came up about ‘aggressive blessing’..they said you can bless yourself at games liek the players do as they come on and off the park but they wont allow charging toward the segregation fence facing opposing fans and bless in front of them as this will be seen to ‘wind up’ to use a looser term than offending them
also asked if using the word ‘hun’ would be sectarian..answer was NO!..as a stand alone work it will not stand up in court as hatred. offensive etc but if you add on other offensive terms then it MAY fall into breaking the new law…i:e “you orange bastard dirty hun” that’s an example im using there as a indicator of what i thought they meant :)
boys of the old brigade song will be punishable under the new law as deemed by lord advocate to be in support of a terrorist organisation
national anthems are EXEMPT from this new law at football grounds
law extends to travel periods…time in the pub with a 12 hour window before and after a game…i:e act in a way that this law deems offensive 4 hours after a game in the pub then punishable under the penalty’s imposed as if you was at the ground
also big clamp down on internet hate esp on here and twitter…places like huddle board and follow follow etc cant be viewed by police until a member of that board reports a post…same punishment of up to 5 years applies for internet related hatred/bigotry etc
offences committed by non Scottish residents will be pursed for prosecution although admitted this will be tougher but will look at each case as and when it happens
“having a party when rangers die” has been used by celtic and killie fans recently and if continues WILL NOT fall into breaking the new legislation as they see this int he context of banter
the police presence at games will not increase or get heavy handed they say.
like i said the meeting lasted a while and the questions don’t have to stop there..i already have about 20 follow up questions from twitter people to ask so feel free to add more…lots more was discussed but the above s what i believe to be the main points that affect my attendance at a game the majority on my friends list…and Aberdeen and hearts fan was in attendance but didn’t really say much and i mean that in the greatest of respect to them
Like · · Share · 20 minutes ago ·
Barry Magee An absolute joke. Just a case of pay yer money, come in, shut the fuck up and please leave without a fuss when its finished
3 minutes ago · Like
Money for nothing: Whyte used £24m Ticketus deal to pay off bank
By John McGarry
Last updated at 11:04 PM on 20th February 2012
Craig Whyte sold off four years of Rangers season tickets — one month before he bought the club.
The embattled owner flogged the seats to London-based Ticketus to fund his entire takeover last April — four weeks before he persuaded Sir David Murray to sell up for just £1.
Sportsmail can reveal Whyte convinced Ticketus to advance him £24.4million on the proviso that he would then buy Rangers. That cash was deposited into a client account with his London-based lawyer Collyer Bristow on April 7.
Whyte then showed Murray that balance as evidence he had sufficient funds to give Lloyds Bank the £18m they were owed — one of the key conditions of the sale.
He then bought Murray’s 85.3 per cent shareholding for £1 on May 6, paid off Lloyds and used Rangers employees’ personal tax — which should have been handed over to HMRC — to help run the club. Until it ran out and forced administration eight days ago, that is.
Had Murray refused to sell to him, Whyte would have returned the money to Ticketus — a gamble he was prepared to take.
The latest revelation means that Whyte, who stayed away from the first post-administration game against Kilmarnock on Saturday, effectively bought into the club for nothing before installing himself as the ‘preferred creditor’.
It is widely assumed he will never attend another game at Ibrox and there are now questions marks over that ‘preferred creditor’ status.
Strathclyde Police are examining files pertaining to Whyte’s nine-month tenure, which were handed to them by former chairman Alastair Johnston.
The SFA have also launched a full inquiry into Rangers in a move that was welcomed by manager Ally McCoist at the weekend.
The ruling body claim to have been hampered in their efforts to establish if Whyte fulfils the ‘fit and proper person’ criteria.
Rangers are now 17 points behind Celtic in the SPL after receiving an automatic 10-point deduction.
The Ibrox club plunged into administration last Monday and, three days later, the administrators revealed they had ‘no visibility’ of the Ticketus money in the football club’s account.
The announcement came despite Whyte previously insisting that ‘every penny’ of the money had gone into the running of the club. Two weeks ago, the embattled owner also claimed to have sunk £33m of his own money into the club.
It emerged that lawyers Collyer Bristow had handed ‘significant information’ which provided ‘some visibility’ on the whereabouts of some of the cash.
An £18m payment was made from the account to Lloyds on May 9 — three days after the takeover went through, but it is still unclear where the remaining £6.4m is.
Exactly how much of the £6m proceeds from the sale of Nikica Jelavic to Everton landed in the club’s account is also unknown.
Last Thursday, joint administrator Paul Clark said: ‘Some of it is deferred. Some of the funds appear to have gone into the club — but we need to go through the detail.’
There is also a question mark over what security Ticketus now hold for their part in the April deal. Were Rangers to be liquidated, the firm would have no obvious means of re-selling the seats they have bought between now and 2015.
Financial experts believe it is inconceivable that they would have agreed to advance such a huge sum without a safety net.
Whyte’s credibility among the Rangers support is at an all-time low. When news of imminent administration broke last Monday, he initially said he had been left with no alternative due to the so-called ‘big tax bill’ which the embattled owner claimed could cost the club £75m.
However, when the application was heard in the Court of Session, that story was exposed as a fallacy. The real reason the club had been forced into administration was down to the fact that £9m in VAT and PAYE had been unpaid. Duff & Phelps believed that this had been used for the day-to-day running of the club.
Just a week before administration, Whyte’s evidence was called ‘wholly unreliable’ by a sheriff after a civil case.
As players and staff at the 140-year-old club brace themselves for job cuts on Tuesday, the whereabouts of the 41-year-old Motherwell-born businessman were last night unknown.
He avoided the Kilmarnock match, claiming he was ‘taking a backwards step’.
http://www.dailymail.co.uk/sport/foo…#ixzz1mxzl4HzQ
Burybhoy
Why would I be a hun and come on here for most of the evening….?
It’s not as if I’ve plumbed anyone for information, or said anything to wind anyone up.
I’ve been perfectly well behaved, praised the hoops up for their fab playing, added my support to RC schools………….
Your point is???
And – before you start – I’ve had ALL the “are you a hun?” questions.
Of course, you’re perfectly entitled to your opinion.
I just happen to think you’re WRONG!
:-) x
Knoxy 2000
fantastic news about wee Oscar. Amongst everything that has happened in the past seven days this tops it.
Night All
CF
Wee ? for you, do any of you use kerrydale street?
Speaking of the huns earlier. I’ve always strongly believed that they are different people from us. I know this sounds a gross generalisation but I think you will find empirical evidence which backs up racial differences. That type of in depth study is for another forum so for this blog I can only offer my experiences.
I worked in a company, early 70s, where the workforce was 95% protestant. It was an absolute cesspit of bigotry and I didnt know places like this existed. Id ‘been brought up in Castlemilk with 10 mates of mixed Celtic- Rangers and we got on great.
As a 17 years old I was immediately picked out for being Catholic and a Celtic supporter. From day one I was given a hard time, nothing physical but the mental intimidation I suffered was bad enough. The main thing that kept me going was the fact that Celtic were dominant under the big man, and I could usually always come in on a Monday with a big smile on my face. In fact it got so bad for them that they resorted to painting my locker red, white and blue, with a big union jack on top. I found out the foreman had actually supplied the paint for them to do it. Mind you, he led off the Orange Walk. The thing I remember about this victimisation was that it came from older guys, 30 plus. All the huns my age were no problem and I got on well with them. Although 40 years ago, the experiences never left me. How a bunch of grown men who were bigots and cowards could enjoy taunting a single boy of 17, well its in their make-up. I can still see the dour faces taking delight in baiting me and winding me up, and me getting no protection from management. I was moved to another part of the factory after a year thank god, away from that bigoted hell hole.
Anyway, last season I must admit to going to Ibrokes for Huns v St.Mirren game to watch my nephew play for Saints. As I stood under the main stand before kick-off, I noticed two guys staring at me from 10 yards away. Yes, it was two of the bigots, now very old. I know they spotted me but turned the other way, probably in embarrassment or maybe fear.
Sometimes I sit in the main stand at CP and usually go down for a pie and bovril at HT. When you stand there all you hear is banter, groups of Celtic fans sharing patter, laughing, slagging each other and such. I swear, standing at Ibrokes that night was not the same. Same ammount of bodies floating about but no laughter, no patter, nothing but quiet voices. They stood there with the same dour thrawn faces I remember from years ago. They are just different and as many have said on this forum, they find it easier to hate us than they do to love their club. Saturday afternoon’s ‘party’ (G. Dalzell, radio clyde sat 3pm) was further proof.
hh
MBB = Motherwell Born Businessman , lol !
So the crafty MBB bought them with their own money.
It gets funnier by the minute.
pigalle
knoxy2000
What a brave wee fighter! You’ve got to hand it to the little guy!
Great news…….. and take heart – children with cancer have a HUGE chance of a full recovery. Let’s hope and pray that’s the end result for wee Oscar.
Every happiness to you all…….he’ll be an inspiration to everyone.
And it looks like everyone on here is also sending the lil’ guy all their love and prayers.
Hope his amazing recovery continues, and he’s 100% clear soon…
There’ll be no keeping up with him then!!
:-) x
Is Smashingmilkbottles the first casualty of lateral movement?
Well that is a bit of a dissapointment, the mail is telling us nothing that we didn’t already know, or others have worked out.
While everybody is going after CW, who should get knighted imo,
The Real Culprits are getting away with a multi million pound fraud.
Minty and the sfa are in this up to their collective necks, if any decent jurno were to care to look, they could make a seriously good career for themselfs, not in scotland onviously.
If this were to be happening in england, or the states, well it wouldn’t, the hacks would have been all over it years ago, it would never have happened.
bun bury bhoy
It’s a most definitely Mrs!
So that would be Mrs Celticghirlanew to you.
:-) x
nothing without fans says:
20 February, 2012 at 23:18
Where they finish won’t make one iota of a difference – their chances of complying with SPL and Euro accounting requirements are at best zero.
Even though they are in administration – they are still entitled to prize/ sponsorship funds (to be used to maintain them or pay debts).
Hopefully the SPL rules are such that debts to member clubs are deducted from the payout first (players bought/ gate money due) – any balance then being used to keep them afloat till they learn their fate!
bunburybhoy says:
20 February, 2012 at 23:19
Call off the dugs… they’re not huns, I’ll stake myself on it… if I’m wrong you can call me out for it…. instinct
My dear,dear,dear,friend.. The Original Sadies Bhoy
Pal.. Ah was only in the Glasgow area fur. Two or so Years.
I was in Ma Early Teens, at that time.
You, are correct.. Ah wiz not very much aware of the political Help which
the Labour Pary, had given to the newly arrived, and thoroughly Benighted Irish Immigrants.. read..
Catholics.
Howevah..
Again…Ah must preface the following with the well worn..
“In Ma Opinion”
Any Socialist..again. read.. Labourite…
Who Ah happen to meet or enter with intae A Political Discussion.. always strikes me as
Being.. eethur an Oot and Oot, Athiest …or Wan who was Totally indifferent as to the Role of Godot,in wan’s Life.
So.. although, as you have posited… the Labour Party did,indeed, help to advance the Catholic
Cause, vis a Vis..helping the Catholics to being allowed to have their own Separate Schools..
Ah wiz blissfully unaware of that Past Historical Favour ,which the Socialist Party had Bestowed oan the nascent, but growing Immigrant Catholic
Community of Scotland.
Again.. Ah must point oot that.. A Strong and Purposeful Voting Block .. which the Catholics no doubt. Represent..
May have bin the incentive, which attracted the Labour Party to take up the
Cudgels for the New Immigrants.
There is always a Fulsome amount of “Quid Pro Quo”, whenever there is A Poitical Interest ,in situ… in any matter at hand.
Na..Palomine..
Socialist Philosophy, Clashes in several Important points with
that of an Entirely Pristine Catholic Philosphy.
A Socialist, preaches Total obedience to the State.
The State always come first.
A True Socialist, does not believe that there is Any sound Reason to believe in God.
Socialism in a woid..
“Stinks”
Socialism,is the refuge of the Lazy, and Inept among us.
This nonsense of Every Man or Woman being Born Equal ..
is a Lie.
A Very Plausable wan, no doubt
But, Utter Bunkum.
Every Man or Woman is Born with different sets of Attributes.. some
more Superior than those bestowed oan others..
There is always, a Better Looking Gal than yer Sister ..or .. a Mair Intelligent
Fellow than yer guid Sel..
There is always, at least wan guy or gal.. in Your Class.. who..
Oot ranks ye ..at eethur.. Algebra or History or Gymnastics..
As Ah contended..
All Men or Lassies..are By no Means Born Equal..
Yep… Equality, is a Jist no Universal.
Anyway.. Ah could go oan awe day. pointing oot the Bad Points..
which a Find maist Abhorrent in the Socialist Philosophy..
Again..
“IN MA OPINION”
it maks me
Groo… at the Very thought o’ living wan’s life… under the Thumb of a True Socialist
System.. of Government..
The Tories, are Bad enuff.. but..
a True Socialistic Government wid be a Total Catastrophe.
Nice Chatting Pal..
Kojo
yer pal.. who likes ye aloater
What abt Jaffas instead of H*Ns??
knoxy2000 eating Jelly and Ice Cream and supporting Neil Lennon says:
20 February, 2012 at 23:02
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).
Brilliant news matey.
Marrakesh Express
C’mon man, gie it a break with the racial differences…. there are none, they are upbringing differences
still tittering at:
I wrote to Jim’ll fix it 25 years ago asking him to get rid of Rangers – he replied ‘over my dead body’..I was disappointed at the time…but should have known Jimmy wouldn’t let me down…!
Jimmy Quinns Bits
thank you!
How can he even ask that question???
Has he not read what I’ve written??
Argghh…… does he want to put people off?? all that nonsense about smelling ‘hun’ perfume?
Muppet!!
Thanks for your support – maybe he’ll take it from you.
I’M obviously not good enough!!!
:-) x
Knoxy
What a fantastic post!!!!
hh
bjmac
praecepta at 23:34
But if a club runs out of money because they retained players they couldn’t afford, why should the SPL give them an advance so they can gain full advantage from that cheating rather than face the consequences?
MBB = Motherwell Born Billionaire? Or Bluenose? Or Bankrupt? or Beancounter? or Bluenose B*stard??
Snake Plissken says:
20 February, 2012 at 23:20
So, as suspected, Whyte has used the Ticketus money to buy the huns.
He strikes me as the sort of guy who is so sharp he could cut himself.
Clashcitybhoy says:
20 February, 2012 at 22:24
+++++
I was putting the finishing touches on an article for CQN Magazine re our TV deal then the SPL done a new deal and so caught me out. Anyway, I created an index based on attendance figures, GDP per capita, population, approximate viewing figures (from what I could find) as well as using the Uefa market pool percentages (these ended up providing almost directly proportionate figures as what I was able to derive by myself) and placed the SPL on a score of 100.
Most surprising was that despite achieving a lower score (can’t remember what exactly, but it was roughly 90), Romanian football’s TV deal at the time was worth almost double ours. England scored just under 950 (meaning their market is worth 9 and a half times ours), yet their domestic and overseas TV deal at the time was roughly 95 times the size of ours, or based on the index scoring obtained from ours, was about 10 times bigger than it should have been.
From the numbers I could find:
there was not one league who scored higher on the ‘marketable’ index that had a deal smaller than ours;
there were several leagues who scored lower than ours, yet received larger deals.
there was not one, whose money received (in thousands p.a.) divided by their index was worse off than our league.
A short example using the three leagues above at the time:
EPL: £1,150,000k/950= 1210
Romania: £29,000k/90 = 322
SPL: £13,000k/100 = 130.
Per index point, the SPL earned 130k, whilst the EPL earned a whopping £1.2m. Even the Romanian league earned 2 and a half times our league, based on marketability (and ultimately advertising revenues). The Norwegian and Swedish leagues, where the average attendances of the top 4 from either league amounts to the same as the second biggest club in Scotland’s, receive much more from their TV deals than the SPL, despite one country being so particularly one-sided that 17 of the last 21 titles have ended up in the same trophy cabinet. And that’s without any tax evasion (one would hope) on their part.
Current Swedish TV deal is worth £142m over 5 years; the Norwegian one (with the single-team skew) that starts next season (2013) is worth an eye-watering £44m per season.
Although to be fair to the SPL, the new contract is an increase of 22% or thereabouts from the last one (the ’emergency’ deal). To a paltry £16m per annum.
It’s particularly galling that the Norwegian Tippeleagen will earn, one and three-quarters seasons, the same as the SPL in five.
C67,
this just gets better n better
mind you, I’m a wee bit concerned that a very nice plan might be gettin interrupted
Great to hear Neil talking about a new contract for Stokes. Easily my player of the season for this outstanding contribution when the chips were down.
Players come and go but if he wants Stokes could stay with Celtic another 5 or 6 years scoring 20+ goals a season and write his own little bit of history.
—
Since beating St Mirren 5-0 we have played 5 home matches winning the all by a single goal, I don’t think Dunfermline will be as fortunate on Wednesday.
Knoxy
That is truly brilliant news , most promising for the wee man.
Will continue to pray for him , and for continued strength for his family.
Hope wee Oscar is fit enough for a massive helping of ice cream and jelly !!!
Knoxy2000, incredible news. Take care and thanks for letting us know.
knoxy2000
Just checked your link! What a gorgeous wee lad! Beautiful wee thing.
I’m not ashamed to say I welled up. My son is 14 – and there are times i could see the big lout far enough…….. then I see your pictures, and have to count my blessings. He might drive me crazy, but I’ve never had the worry that you have.
I hope and pray that wee Oscar is soon driving you mad with his mischief – something you’ll never be complacent about.
He’s beautiful….. a truly amazing wee boy
Kayal 33 …….
Think we need to understand how cw could sell STs 1 month before he bought the club….. without SDM’s permission / collusion….??
The Exiled Tim……..
No wonder the Police are now taking an interest…..there’s a lot more to come out on all this …. my earlier post may not be TOO far ‘off the mark’…….tongues have been busy, and ears have been primed, in the murky (marble ?) corridors of power ….if they survive after all this, there’s no hope for justice /fairness in Scottish Football …. but I’m now convinced they will not survive this….it goes too deep….thanks, media, for ‘staying stoom’ …
THE TRUTH WILL ALWAYS ‘OUT’…..!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
And it’s ALWAYS innocent workers who suffer, and smaller creditors, in this case other SPL Clubs owed money………..SCOTLAND’S SHAME, right enough
knoxy2000 eating Jelly and Ice Cream and supporting Neil Lennon says:
20 February, 2012 at 23:02
fantastic news – got some vi – deo clips last week so Can you get in touch , sannabhoy@gmail.com ?
bunbury bhoy – nae luck.
bundoranbhoy – you looking for fix for wednesday ?
Sanna
celticghirlanew
Don’t fret over it.
At some point we all get called a hun, if we post something that others don’t agree with sets it off.
Take last night for example, I was defending Pat Fenlon, I was close to being called a hun, still hasn’t happened yet, but no doubt I will be one of these days.
Take JQB, I remember the first night he posted on here, he was called a hun, and they had it in for him, he stuck with it, and he’s no a hun, I would stake my life on that.
It’s also good to know that a lot of the so called self appointed hun seekers are no longer with us, they must have better things to do now their club is going through a painfull time.
HH
KTF
Knoxy….GOD BLESS OSCAR, AND GOD BLESS YOUR FAMILY
knoxy
great news !
delighted
thanks for the update
TC