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.
If you would like to read CQN Magazine online (for free), click here. You can download a pdf of the magazine using the button at the top of the page, second from the right. Click on the link below to order a hard copy of the magazine.
You can support the online edition by making a discretionary donation here.
1,072 Comments- Pages:
- «
- 1
- ...
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- »
Dead Parrot FC
Ernie,
help me out here
why would ticketus quietly fund a buy out, knowing the implications of this, and what would there security be, it could only be a first charge over RFC assets – i.e. the stadium? And could this seriously happen without Murray knowing about it?
sannabhoy says:
20 February, 2012 at 23:49
Cant make Wednesday brother, thanks for asking though
HH
Exiled Tim
You and Billy fenlon,both well known huns
Kojo
I’m not a Communist and I would agree that people have no incentive to achieve under a Communist government. I do, however, have socialist views like many people in Scotland. Working class people in this country were exploited in the early part of the last century and lived in appalling conditions. They were poorly paid if they were in employment and lived in very poor overcrowded conditions. Any improvements were generally brought about by charity and individual philanthropists. Most people didn’t have incentives to improve. They were downtrodden. People cannot rely on charitable handouts. They are entitled to better. The vast majority of people want to work, provide a living for their families and see their families progress. Governments need to create the conditions for this to happen. That’s why we elect them.
All people are looking for is a meritocracy where they can work and progress if they are good enough. Not all of us are looking for a redistribution of the wealth. Although I watched a documentary a few years ago which said that 75% of the wealth in the UK is still in the hands of the descendants of those who came over in the Norman Conquest!
Another interesting fact is that social conditions didn’t start to improve until after the First World War. One of the reasons was that the upper crust were so shocked at the poor physical stature of British soldiers going into war that they realised that something would have to be done about it. The cannon fodder was too puny for them to rely on it to protect them and fight their battles.
Boom!
Confirmation indeed. We all knew but this is HUGE! Reading the Daily (spit) Mail article and have yet to come to the part where they lay a portion of the blame at non-white UK immigrants, sure it must be in there.
HH all.
Ps Fe fi fo fum….. though dost protest to much and all that good stuff.
TET,
yer a gent… and a big saftie!
cheers bud
HH
JimmyQ’s … @ 22.04
I think that a lot of the dynamics were the same.
The Tories played the unionist card for all that it was worth in Scotland.
They managed to generate significant support – over 50% of the popular vote in 1955 using the Coronation glow and a a number of brands to make the most of their offering.
However I think that they failed because they were up against a more inclusive opponent.
Labour in Scotland has traditionally been a three legged stool –
Trade union – ‘Prods’ and Athiests.
Tribal Catholic vote
Middle class trendies / idealogues / public sector White collar.
The situation in NI was more entrenched and the ruling elite in NI were much more successful in keeping the working class split along religious lines and they had the partition to make sure they kept the plebs in line.
I don’t know the numbers but I think the population increase in Scotland was so large that it overwhelmed the existing local elite and the dynamic element allowed new voter groups to gather around political ideas rather than static religious divides.
1900/20 – Scotand – industrial working class becoming dominant.
1900/20 – Ireland / NI – static rural divides have more influence.
Belfast was different in that it was industrial but not by enough to overcome the static divide it found itself up against.
Add in the Tory drive to stop Irish self determination – playing the Orange card – and the rest unfortunately was history.
If only NI had a significant Coal mining industry?
dirtymac \o/ at 23:43
Is that down to the SPL being badly run?
I noticed the other day a PwC report on the SPL website stated that Hibs ground was Tynecastle – very poor by both PwC, who were presumably well-paid for the report and the SPL.
Gotta Go..Joe
Good Night Scotland
Good Night Ireland
Good Night Wales
Good Night England
Good Night Canada
Good Night New Zealand
Good Night Australia.
and
Good Night .. Bill Binnie, wherever you are.
Kojo
the exiled tim
Thank you… he just wound me up!
I was on the point of telling you “aye… call off the dugs, cos I’ll maul him anyway!”
Totally get the huns jibes – and found them funny! Til bunbrybhoy went over the score.
He’ll get his!!
LOL
but thanks anyway…… we both appreciate your vote of confidence, and look forward to reading more CQN posts.
HH
:-) x
Daily Mail
Not pulling punches..?
Good on the Daily Mail for the article but surely a wee bit of lateral thinking required re missing 6 million.
9 months @ 3.5 = 31.5M
3.5 Jelavic leaves 27M
6 from ticketBUS leaves 21M
Season books 14/16M leaves 5M
Wee cut for Craig Whyte our Hero leaves 0M
MWD
Dirtymac
Interesting to see you numbers re the Norwegian League.
Even without Rankers I still think the present revenue coming into our league undervalues the product …or perhaps all the others are over-valued.
Either way , we are getting less than a quarter of what we should get, and if you include Celtic vs Rankers it should go up even more.
I got my data from the BARB website – its worth checking out.
I also suspect that if you were to access data on subscription to sports tv, you would find the penetration is much higher north of the border .
Sir Kojo.
What oor unwashed lefties aren’t tellin’ ye is that in the 1950s,especially in the time of the MacMillan government,Scotland voted overwhelmingly for the Conservative and Unionist Party,to an even greater extent than the rest of the United Kingdom.
So,the Socialists supporting Catholic Schools could be looked upon as a cheap gambit to attract the Catholic vote…
So take a hike Virginia,back tae the kitchen Auntie Maud…….cos Lil’Audrey’s back in toon….
(Laughin’)
Right all, I’m off to buy Hearts, on the phone to TicketUs right now and they say they’ll drop some cash in my bank by lunch tomorrow.
MBB LMAO as the kids say.
Stars
Aye, I always knew somebody would rumble me sooner or later :>)
JQB
You are the ghent my good man.
Really have to love yous and leave now.
HH
KTF
Good night and god bless
hamiltontim
Sorry I missed your earlier post!
Sounds like your weans had a great time discussing antiracism.
Amazing what kids can do without adults interfering!!
Keep up the great work!
HH
:-) x
Jimmy quinn
I think there’s something in it. If we say that most huns are indigenous scots, and most of us are of Irish origin, then check out migration routes etc over 2000 years, its interesting. Many other factors of course like interbreeding, viking, spanish armada. And yes upbringing overrides everything but i see definite characteristic differences. Heavy stuff but intetesting for me anyway.
Marrakesh Express says:
20 February, 2012 at 23:28
Not all Protestants are bigots or brought up to be anti-Catholic. We are very unfortunate in the West of Scotland that we are victims of bigotry which our ancestors first suffered in Ireland. Irish Catholic families who moved to Scotland were unfortunate that Orange Irish families moved to Scotland too and carried on their ‘traditions’.
Dear SPL,
We didn’t really not give all our dinner money to her majesty…….a big bad funny looking man tookit from us….and all next term’s money as well.
Can we get our ten points back now?
MWD
Craig Whyte does not lack creativity ..or a brass neck – lateral thinking is one thing but common sense is another – Angry Huns are very dangerous (as you know too well)…is he sick of living?
GO Oscar go go go
TOSB
I loved it but they have until Friday to write their own 200 essay on King’s ‘ I have a dream’ speech.
Time to see if their writing matches their talking skills.
Ps your earlier comments relating to Catholic schools were excellent.
JimmyQuinnsBits says:
20 February, 2012 at 23:52
‘Ernie,
help me out here
why would ticketus quietly fund a buy out, knowing the implications of this, and what would there security be, it could only be a first charge over RFC assets – i.e. the stadium? And could this seriously happen without Murray knowing about it?’
Ticketus take a cut on the tickets ie they sell them for more than they pay for them. Their investors get tax relief on the scheme, that’s its main attraction.
They’ll have agreed to put the money up on the basis that it was used to buy the club and wouldn’t be paid over until they had a signed contract for the tickets. So in effect Ticketus have got a security over Ibrox.
I’m guessing that they will have a floating charge over Wavetree, or whatever it’s now called, who in turn have a floating charge over all the huns assets.
Murray needn’t have known what was going on, and even if he had known he couldn’t have stopped the deal, the bank would have forced it through.
hamiltontim says:
21 February, 2012 at 00:06
Cheers and thanks. I’m sure your pupils will surprise you.
ernie lynch
MBB like all these fraudsters and the banks that bet mortgages will fail took a chance, he gambled that he could do all this and come out, if not smelling like roses but a very rich man.
Something has gone incredibly wrong or incredibly right for him.
More revelations soon.
timbhoy2.
An Oscar for Hector….
(Thumbsup?)
Cultsbhoy
Well. It’ll be down to us Help this particular Hero.
Collection to raise funds in order to facilitate the building of a new pristine castle (with roof) on the dark side of the moon.
MWD :-))))
nothing without fans says:
20 February, 2012 at 23:42
Justice should follow an administration sequence:
Gather facts – deal with immediate obligations (which includes any due income/ fixtures) – restructure current debt (player sales/ redundancy etc) and then face the consequences!
Forget about who or what they could have afforded – that’s past. Nothing can be done till that legal procedure has been completed.
Then and only then will: rule breaking, financial irregularities and any possible criminal proceedings be fully examined.
As to how in depth that will be – remains to be seen!
Celticgirlanew
I was astonished at some of their genuine ignorance relating to some of the issues but was even more amazed at their ability to reason and sympathise. Jolly good fun what…
Don’t get upset by the hun references, I believe I’m the only CQNer never to have been referred to as such :-)
ERnie,
cheers,
I’ll need to chew this over, because it looks like ticketus ultimately make the money, not Whyte… I’m obviously missing something
Anyway, night all
“No one can make you feel inferior without your consent”
Marrakesh, Mad Mitch,
discussion to continue another time
Hail Hail
Had to pull up the Daily Ranker there for a wee chuckle.
Saw this:
‘Rangers boss Ally McCoist: 4am phone call from Walter Smith helped me through week from hell’
Should have read:
‘Rangers boss Ally McCoist’s Wife said: 4am phone call from Walter Smith helped me through week from hell and stopped Sally crying into his pillow for long enough for me to get 40 winks.’
celticghirlanew says:
20 February, 2012 at 23:56
You and Bass Bhoy should stick with CQN. You’re both welcome additions to the family. You’ll discover that this is the only place to be in the football cyber world.
Hail! Hail!
HT,
yer a hun
HT ;)
No statement from Alystur?………….” Yes. I totally trust Craig Whyte”!