My friends in Celtic, the day has come. Rangers are dead. The Old Firm existed for many years but we all now know that particular duopoly was terminated years ago – on the day Murray International Holdings bankers tried to put Celtic out of business, to be precise.
Today, we stand proud and alone.
“Celtic are in an exceptionally strong financial position. They can survive the vagaries of football fortune, or economic downturn, without the threat of cutback should income dip.
Conversely, Rangers are in dire trouble. This year will not be financially the worst Sir David Murray has bestowed on his club, but it will make for horrendous reading to any prospective buyer of the club and provide further evidence that they are hopelessly adrift of financial security.
Winning the league this season and qualifying for next season’s Champions League will not provide succour from their structural problems, it would only result in a temporary slowdown in decline.
Rangers debt has risen inextricably, and is set to continue to rise, at a time when bank facilities have become more difficult and expensive to acquire.
Should new HBOS owners, Lloyds TBS, take fright at the property-to-football conglomerate, Murray International Holdings, which includes Rangers, frankly, the consequences are so dramatic, I don’t think we should discuss them, as I have trouble sleeping when I get too excited.
We live in a time when things which simply cannot happen, happen. When some of last year’s most credit-worthy companies in the world have gone into receivership; when one of the centuries-old pillars of the Scottish business community crumbled in days.
No company dependent on a significant increase in its debt is safe.
Rangers Football Club, 1873 – 20??”
The years since 2008 have been hard for Celtic fans. We watched our team lose three consecutive league titles to a former club, who despite their self-evident mortal danger, continued to fund a league and Champions League challenges.
We stuck to budget and lost trophies. This was a hard decision but it was absolutely correct. Football regularly throws up clubs who will recklessly burn cash. You can indulge in their lunatic ways, or sit it out, tell your fans you cannot afford to spend more, and hope that in time your judgement is proven to be right. Today is vindication for all those hard years.
I’m not a financial analyst and never actually spend too much time reading Rangers accounts but the above synopsis was inescapably obvious – and this was years before I knew about the EBTs. Rangers directors would have known this at the same time, if not before. If they were blind to it, they were equally useless. Only God above will know why they didn’t rein the horses in, lose a few leagues, but kept their football clubs in business.
1,200 Comments- Pages:
- «
- 1
- ...
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- ...
- 32
- »
Jackie Mac
(turned off the Purple Prose) Said child cuddled. HH
Glorious Balance Sheet
Davie…? 5%
Surely Shome Mistake…..That Much !!!
Douglas Fraser of the beeb sounding almost credible on Newsnight.
This is war. We must not give an inch to this mob .
Can’t wait to see mackay tomorrow night. Kids in car first then pelters
TET
Take it out …convert it into dollars and hide it under the bed … Seriously
Exiled tim I think if it is Santander, the uk bank is separate from the Spanish branch and it should be ok. Also the uk version of the bank has the government back up for cash up to 45k if bank were to go bust.
Ggh
They WERE the people.
67% of Scottish football fans say no to newco in the SPL.
Kojo is your surname Docherty?
TUPE or not TUPE.
It seems the protection of TUPE does not apply to all RFC(deid) staff….
Apparently the wee wifey who sews the stars on the jerseys has been told that she will not be required at the new club.
And Ms Knobbly Knees 2012 goes toooooooooo…………………
Still a lack of pressing questions on STV! Panel full of dirty Huns! Get a broad section of Scottish fitba on there to have some kind of levelled opinion!
Sick to the stomach! But,
Happy they are DEAD!
What did the Doors say? This is the End!?
DEAD
PFayr
Much obliged.
I understand the banks here will not guarentee any monies deposited, unlike the UK.
Worrying times for some folks.
Ma Pal. Nutsy..
Wants tae Know..
” This Is Concerning… the “Big Tax” , whit is Owed tae.. HMRC..by the Former G.A. Fitba’ Club…
Wull it Noo Go Away.. and Wull it No Longer Be Owed tae HMRC, by the
F.G.A.??”
And ye know, Something, Ah couldnae Answer Him.
So..
Guys..
Is it still Owed?..or.. Has it Conveniently . Been… “For Given”.. and wullnae be Honored , by the F.G.A.?
Great Question.
Right?
Damn Right!
Kojo
Still.. Laughin’…of… Course!!
that boy chris does a lot of thinking
Robert McElroy ” Rangers Historian ” on BBC2 wearing white terry socks and black slip on shoes.
Says it all!
TET
Send your EBT’s over to me and i will look after it
Love
Ye think Tracey n John rehearse that conversation….?
Seemed rather……Scripted.
Are STV still par’ners with these outlaws….?
Kojo
On liquidation, the big tax case ,if lost , will render any sums due by the old rangers not the Newco.
Interestingly though if the liquidators believe that the DIRECTORS of the old co traded while it was insolvent it may be open to them to pursue those directors individually.
TLWIO
He has no historical link with the club because ‘the club’ (Newco) now has no history. Which bit of that sentence don’t these people get?
What a pile of mince this programme is. Newclub PR exercise.
HH \o/
http://www.youtube.com/watch?v=7ugVw4xhvbU
Mark Daly. Back of the net.
Kojo on 14 June, 2012 at 23:10 said:
I think HMRC will now chase the former directors of the now dead RFC for money, be it a repaying of EBTs or fines for,misconduct, or any other sanction that the courts find appropriate.
By that I mean if the courts find individuals Legally culpable then the Polis will be involved. Think they already are to be honest.
If the club wants to be seen by football as Rangers as I say Lord Carloway will have something to say.
The Exiled Tim
Read this….
http://m.spiegel.de/international/europe/a-838429.html#spRedirectedFrom=www
Francis Fukuyama CSC
Now I expected the NEWCO in SPL bias but so far STV is not unlike Syrian TV tonight. Absolutely disgraceful. What about interview with Wiggy?????? FFS!
the long wait is over on 14 June, 2012 at 23:13 said:
You made my point quicker than me.
Just logged back in, is Mark Daly on tonight on TV, is it Part Two of his investigation??
Spencie says huns wont get voted back in.
Good man Jim Spence.
Jim Spence saying Aberdeen and Dundee United fans with-holding season ticket purchases wanting no newco in the SPL.
Michael Kelly on STV now
Appalling if they can avoid punishment for dual contracts etc.
starryplough
No, he’s on BBC2 as part of a panel of 156, but what he says is pertinent, smart and on the ball.
incidentally the BBC programme is on a different planet from the STV hagiography by Rangers cheerleader to John Mckay
So Green apparantly, holds all the high cards,..
The assets:
Bigotdome, Skinty’s Youth Development Centre of Excellence,….. And the burial ground of the Ark of the Covenant [ Albion Car Park]
And now they’re all turning against him…..?
????????
Jim Spence, a balanced journalist in Scotland who’d a thunk it.
Archie: ‘tv porvides the main finance’. No.