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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Catching up on the registrations issue… In the absence of everything else it would be enormous, but together it’s almost unbelievable. If it is all true, now can they possibly been so naive/stupid/silly?
Rangers FC (in administration) – The gift that keeps on giving…
I think he just might be!
Bada Bing
I see you are away to New York for Saint Patrick’s day,
when is that ?
Headtheball says:
21 February, 2012 at 10:15
Great point. I said that to a mate at the weekend. The tide has turned, albeit no doubt temporarily.
The list of Ranger’s creditors continues to rise. Based on Ian Brines performance at the weekend, looks like the refs haven’t been paid.
HH
TLK
JimmyQuinnsBits says:
20 February, 2012 at 20:07
My dad worked alongside Jimmy Quinn.
who is going to sue them – Whyte !!??
TBB – You would have thought so…
Is there not a legal or accounts department at Ibrox that should have pointed out to whomever decided to do the transactions that they were dodgy?
If the administrators want to start with redundancies then these would be good departments to start with as they are either hopelessly incompetent or being totally ignored – Whatever, they are surplus to requirements!
Headtheball says:
21 February, 2012 at 10:15
All hope of Ranjurs winning the league has now gone so there’s no point in them having any assistance from anyone. See the recent Ibrox refereeing display for evidence.
Will Kilmarnock and Dundee Utd get the benefit of honest mistakes in the two cup competitions still to be decided
Gordon_J
Your point about where these players are paid from is a good one. Whittaker, Davis, Mcgregor, Goian, Bocanegra, Wallace, Bartley, Weir, Naismith, Aluko, Bedoya, Celik, Wylde, Healy, Kerkar – all have been signed, signed new contracts, or signed contract extensions under Craig Whyte’s period of ownership. How many of them have been paid by Rangers plc?
TBB – can he not be that stupid? Who is there to tell him that isn’t allowed? He sacked all of the football administrators and by his own admission people only get told what they need to know. We all know there Director of Football is a 24 carat muppet. Whilst incredible, they way things are with Der Hun under Whyte it is hilariously not unbelievable….
If true though we will find out very very soon as I believe every media outlet is on this.
Finishing the season with MINUS points.
I like the sound of that !
pigalle
They are paying these guys?
Shome mishtake surely!
Peter Lawwel – the SSM. He has run celtic in such a way as to compel Rangers to spend their way into obliviation.
I’d put that on his tombsone as opposed to “In January 2009 he failed to sign Stephen Fletcher”.
And to think that the former head of the SFA may have “presided” over this farce.
Just gets better so it does.
pigalle
voguepunter says:
21 February, 2012 at 10:19
Bada Bing
I see you are away to New York for Saint Patrick’s day,
when is that ?
17th March every year mate :}
CelticResearch CelticResearch
Q for Duff & Phelps. Have any of the player salaries been paid by outside parties such as The Rangers Fc Group Ltd. A Yes or No will suffice
14 minutes ago
On a serious note, if they get liquidated and he makes a few million, Craig Whyte must realise that he’ll be looking over his shoulder for the rest of his life.
They have some very violent people as supporters.
No amount of money is worth that. Do we have a Witness Protection program :-)
This is like a totally fabulous way to start the day, Hoopsters.
The crazy ones seem to be shooting themselves in the foot over and over again.
And by the looks of it there is plenty more to come.
Yeeeeehhhaaaa to The Mad Bad Bullionaire !
pigalle
Oops, Leggat has overstepped the mark.
See you in court Dave!
Kittoch-Luck started on Sky Atlantic on Saturday,it’s repeated tonight @ 11pm.Looks promising,the horse racing sequences are very well filmed.
MORNING BHOYS , just listened to the traynor .young playback from saturday with the fellow frank . How odious are those two . I stopped listening to that programme many years ago , and listening to that ive had the best of it . what i cant understand is why they are still so defendant of murray . I wonder
hail hail
jimtim.
Rogue
Gordon Smith was CEO of the SFA for 3 years. He knows the registrations framework inside out. He’s got friends in every town and village from here to the Sudan. He speaks a dozen languages, knows every local custom, he’ll blend in, disappear, you’ll never see him again.
1st post of the day. New article will probably follow soon….
What happens to the TV deal if Rankers are in the bottom 6?
LB
Good morning all..firstly great news re wee oscar!..
Heres a thought and following on the alleged registration issue and others might expand on this maybe if its true he meant to do it and hopefully get away with it? via RFC group as it was the only means of paying players via Ticketus money which he did not wish to transfer to the football club to give visibilty of it as I would imagine at this point that he is still sitting on the advanced ticket money or a significant portion of it ..just trying to get another handle on it ..anyone care to look at this line of thought?
It would seem from reading on here and the RTC blog that he has a penchant for ‘mixingup’ names and other details.
New article posted.
amadeus
ref Leggat…….how so ?
TBB@10.37
But what about his parents? who will look after them?
See how politicians and academics and journo’s keep telling us how rangers is part of the fabric of Scotland. If they were a fabric they would be that horrible grease proof toilet paper that you got in the works toilet. You know the type that just spread the mess rather than cleaning it up. Nobody liked that either and it was totally useless also.
Monthehoops
Check his blog.
Actionable, I would humbly submit.
Ghuys…..just quickly jumped in to say that if any of you haven’t seen VOGUEPUNTERS submission yesterday afternoon, can i advise you to scroll back and read it…….The man’s an absolute genius….Three cheers for Vogue…Hip Hip…..Hooray….Hip…Hip…Hooray…..Hip…Hip….Hooray
Headtheball says:
21 February, 2012 at 10:15
All hope of Ranjurs winning the league has now gone so there’s no point in them having any assistance from anyone. See the recent Ibrox refereeing display for evidence.
If the registration story has any basis and the penalties are correctly applied the number of ‘honest mistakes’ could sky rocket just to keep them in the SPL.
Lads just logged in, morning to all.
Please lads tell me this is true about rangers players being registered to a different company.
lionroars67
That’s a distinct possibility.
The Lion that is Celtic seems to be patiently watching and listening to the death throw at Ibrox.
Have to wonder if their preferred bulls eye is more SFA than RFC.
Succulent Mutton.
Hen1rik – story is doing the rounds again this morning but looks like a little more substance to it today.
Looks like the mainstream press may have their teeth (I know) into it.
Paul ( or anyone else)
Looking for advice on how to get contact details of one of the regular bloggers here.
My son noticed a post yesterday and realised the person referred to was me.
Any help greatly appreciated.
The Onlooker
Tims Reunited CSC
Who was it that said never interrupt your enemy whilst they are making mistakes?
The press conference from Neil Lennon the other day was very interesting. I think Celtic have an inkling this was happening last year with the 3rd party payments.
Celtic are playing this beautifully!
LB