Administrators for Rangers FC PLC (in administration) yesterday released a statement that had emotions swinging. Subsequent headlines heralded the news:
“Administrators assure supporters that club will continue to exist”
“Rangers ‘will continue as a club’”
“Rangers will survive”
The administrator from Duff and Phelps actually said, “In broad terms, supporters can be reassured that Rangers will continue as a football club”.
“In broad terms”, Clydebank FC survived as a football club, they are away to East Kilbride Thistle on Saturday. This is a completely empty statement. Duff and Phelps have given no assurance that a deal to save the club has been reached or that they can compel such a deal.
Off to the juniors with them.
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223 Comments- Pages:
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stephen with a ph . how you doing mate . . may i ask . would it not have been better sending salmond and regans spoutings to the london evening standard instead . let them all know whats going on .
hail hail
jimtim.
I battered the First Minister on twitter last night don’t know how much good it will have done but I had my say. Also sent Uefa and Fifa a wee message about Government Intervention. Last act was to send the London Evening Standard article to Salmond and Regan . but well done .
excathedra44, yes, the administrators have taken a distinct course of action. Paul McConville’s comments are very illuminating.
Battered Bunnet, looks that way. It’s down to how much HMRC cash Whyte is prepared to burn this side of liquidation.
Merrydholl, welcome.
Stephen with a PH, cheers.
NorthAntrimBhoy, it sure is.
Celtic Mac, we would hope not.
starry plough says:
16 February, 2012 at 11:39
Rangers : Let them eat cake..
Starry Antoinette..
HEHEHE
1The Battered Bunnet @ 11:10,
”I note Craig Whyte’s statement from Monday: “The Rangers FC Group, the majority shareholder in the Club, is prepared to provide further funding for the Club on the basis the funding is ring-fenced from the legacy HMRC issue.”
Wow! That I did not know, this is potentially huge.
If THE RANGERS FC GROUP LIMITED is not affected by the Administration and is drip feeding monies to – THE RANGERS FOOTBALL CLUB P.L.C. In Administration.
Add to that the fact that Craig Whyte’s Companies have a standing charge over the Stadium and we see the chap is not in too bad a position.
• He can pull the trigger on liquidation at anytime:
• He has THE RANGERS FC GROUP LIMITED (Not in Administration) under his control of the BBC’s Mr Daly’s ”missing” cash pile on hand.
• He has first Dabs at the Assets (Players, Stadium etc) of Rangers Football Club once it is deid.
He’s sailing close to the wind but is there a chance that he could pull this off?
Big Dan’s red card rescinded.
LB
NorthAntrimBhoy says:
16 February, 2012 at 11:38
Only in terms of ‘look how much money Rangers have lost over the years’ type stories. The reality is that MIH bought a chunk of Rangers for £51m that they subsequently sold for £1, so that’s a loss they have. It won’t be a bank loss unless MIH fold, if it’s being serviced correctly (and I’m not saying it is) it will ultimately be one of the things that brings the bank back to profit and helps the UK taxpayer see a return on their investment.
It’s bad enough just unravelling what they actually owe right now, without bringing the old stuff up again.
Big Dan red rescinded!
Good morning bhoy’s and ghirls.
Gordon_J backing Neil Lennon says:
16 February, 2012 at 10:19
“But the current club, the one with 140 years of history, the one that refused to employ anyone of a certain religion for so many years, the ones whose supporters rioted from Barcelona to Manchester and everywhere in between, the one run into the ground by Sir David Murray and Craig Whyte, will be no more”.
Form a very infrequent poster, the above passage from Gordon J’s blog fills me with more excitement than anything I have ever read.
I see a lot of discussion about will they be reinstated?, in what division?, what will the penalties be?.
For me none of it matters as long as they DIE. As long as that time line fails to continue and the bar drops to zero I really don’t care what, when, where or how they come back, as long as they DIE.
Hail Hail
celtic 40me
thanks!
but let it be known I’m on the awfy wee side..
Yes Big Dan..
Alex Salmond STV
“We’ve certainly been arguing to HMRC on one hand, and indeed to Rangers, to for goodness sake get a settlement, get a settlement and a structure over time whereby Rangers can continue because Rangers must continue for the future of Scottish football and for the fabric of the country.”
I would see this to be an obvious AwNaw but I know that is the genuine article.
49 million = liquidation.
Hail Hail
Alex Salmond doesn’t do a thing without an eye on the main chance. His line will be ‘HMRC are UK, nothing I can do, but if we were independent…’
Like all sucessful politicians the man is a first class chancer. If more pressure was applied then Eck would have nothing. He is currently at the centre of a perfect storm, Labour are rudderless, Scottish Tories are a joke, Lib-Dems worse than useless. Salmond sees GCC as the main prize. Once the SNP gain control they’ll expose everything. Politically the ranjurz story is small beer and Salmond knows it.
The apathy of the ranjurz fans isn’t hard to understand, as Confucious said ‘he who lives in the shadow of the temple mocks the gods’
Ranjurz have been handed titles, an excellent press, decisions, very favourable trading conditions and additional assistance when it comes to hobbling rivals. They’ve had it too easy for too long, they don’t know what to protest about, to who, or even why. It’s too late to rally the cause, not only has the horse bolted, the stable door’s been shut, locked, bolted and now CW’s gonna burn it down!
Hail! Hail!
£49,000,000 = 2 secondary High schools
HAIL HAIL
as far as im aware non of the stakeholders have actually commented on whether or not Celtic or scottish fooltball will survive with the huns
All comments have been from media/politicians/fans
with the exception of lawwell you commented before the fact ( Celtic income is not based on ANY scottish club)
What we have learned over last 2 years in this process that FACTS mean NOTHING.
Playsfusball –
£49,000,000= 2450 nurses or
2274 police officers or
2440 fire fighters or
2722 OAP carers or
2700 social workers
Rather then tweeting and emailing stupid self serving ass covering Scottish Polititicians, should we not just pass their statements on to UEFA and FIFA, sit back and enjoy the ride?
yorkbhoy says:
16 February, 2012 at 11:28
I agree with all you say.
Evasion of taxation is a crime.
With victims, as you have indicated.
Just can`t get to grips with the ” holier than thou ” bit.
Gord J
I’d guess the land value of Ibrox today after deducting the not inconsiderable costs to clear the land will only be a few million.
I have worked and lived in England for over ten years. Outwith the Celtic minded souls I have encountered, very few people have much knowledge of Scottish football. Sure they know Celtic and Rangers, some even claim an allegiance, but when it comes down to names, facts, scores, decisions their input is minimal.
Rangers has been the topic of discussion in my office all week. On three separate occasions, during client visits, I have been asked to explain how this has happened. Any attempts by Scottish Ministers to seek leniency for an organisation which has stolen from the UK taxpayer will be met with fury down here.
They might be a Scottish Institution, but it is the British tax payer who has been defrauded.
Therags…
Gordon_J
Tesco bought Love Street from St mirren for approx £15m so thats the ball park figure for Ibrox I’d have thought.
Mort
iki says:
16 February, 2012 at 11:54
Alex Salmond STV
“We’ve certainly been arguing to HMRC on one hand, and indeed to Rangers, to for goodness sake get a settlement, get a settlement and a structure over time whereby Rangers can continue because Rangers must continue for the future of Scottish football and for the fabric of the country.”
Re post
The Ulster Scot siege mentality so prevalent in the North of Ireland is alive and well in Scotland. The Protestant Establishment for a Protestant people are manning the walls of their ‘New Derry’ in readiness to repulse the Irish Catholic assault on their heritage. Cries of ‘No Surrender’ resound across the West of Scotland. In the halls of the Scots Parliament and Masonic lodges machinations of Machiavellian proportions are underway. The combined forces of the Scots media and government are mobilised to ensure that under no circumstances the law, morality, right and common sense are allowed to enter debate. The Ulster Scots lexicon of excuses is dusted off to defend the indefensible – Heritage, Culture, Society and of course failure to acknowledge any responsibility for their plight. The British public are being bombarded by a Pro Rangers propaganda blitz that Dr Goebbels would envy. Educated articulated dissent is ‘Verboten’. Dissidents are portrayed as irrational and openly dismissed as being motivated by hatred other voices are drowned out by the media openly calling them liars.
Just my opinion but concerned – “for the good of the fabric of the country”; i don’t think that their demise will be as easy / clear cut as some on here believe
Is that the first red card we’ve had rescinded on appeal?
does anyone want to chip in to buy ipox, then we could either:
knock it down
OR
charge ‘I can’t believe its not rangers’ £10m a year for its use
???
£49,000,000 = 2722 OAP carers
£49,000,000 = 2700 social workers
£49,000,000= 2,450 nHS nurse
£49,000,000= 2,450 teachers
£49,000,000= 2274 police officers
£49,000,000= 2274 fire fighters
£49,000,000 = 1,800 tax inspectors!
£49,000,000 = 33 Manchester riots
£49,000,000- 5 bankers’ bonuses.
£49 million – four -Tor Andre Flo
£49,000,000 = 3 and a bit front loaded warchests
£49,000,000 = 2 Deals with Ticketbus
£49,000,000= 2 secondary high schools
£49,000,000 = 1 dead football team.
£49,000,000 = liquidation
share
Alex Salmond is a bed wetter, there I’ve said it..
2010 Never Again
RIP – Rangers Football Club (in administration)
You were never a match for…. “The unseen Fenian Hand”
iki @11 54—–
Thanks for that —
Well worth reiterating-
Alex Salmond says –
” Rangers must continue for the future of Scottish football and for the fabric of the country.”
Everything seems to be quiet.
We have a few politicos spouting the ususl nonsence, the ususl interested huns spouting the same football needs the hun.
WE should be concentratin on targeting the sfa, the body who have allowed this scenario to come to fruition.
The hun have only done what they have done because they could, and were allowed to by the complient sfa.
Their silence is worrying, deals will be getting done while they are being left alone, hunt them down.
weeminger
would doubt that very much mate, think it will be a wee while before he’s back on once he realizes the size of the clanger he’s dropped.
Glad to see Big Dan´s red card has been rescinded. He should never have had a tackle to make, it was slack.
Anyone know if Rogue is fit again? Think he has been brilliant of late and one the main contributors to our good run.
Big Dan wins appeal
Hail Hail
Mort says:
16 February, 2012 at 12:00
Gordon_J
Tesco bought Love Street from St mirren for approx £15m so thats the ball park figure for Ibrox I’d have thought.
Mort
……………………
That was when property prices where through the roof though. Also it would cost far far more to demolish ipox and you’d have the problem of dealing with a listed building
Macjay
It’s not holier than thou, I would be equally angry if it was Celtic that did it. It’s about living in a society where we all pay our way. The main point I am trying to make is that they did something wrong and should be punished and not looked on as if the stole some sweets from woolies..
greenjedi at 12:07
Accounting for increases in property prices should give it a value of what, say £8m. Is it worth more as a football stadium, say £20m?
Mort
David Prowse says:
16 February, 2012 at 11:51
Big Dan red rescinded!
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
2010 Never Again
Macauley and McLean found not fit for purpose
really crucial that we got that red card rescinded – (rolls eyes)
There are so many issues to tackle as we move forward from here that it really is turning into a full time job just to try and keep abreast of developments.
It is very clear that Establishment Scotland will do everything in it’s power to save Rangers ( in administration )so our energies need to be focused on garnering support from other clubs to block Newco ( not yet in administration ),to publicly challenge lazy journalists and politicians who spout the mantra of ” something must be done ” rather than reprimanding dishonest practice and continuing to expose the financial engineering that brought this club to the brink.
At some later point when the battle has been won we ought to focus on the role of the auditors who signed off their accounts year after year,the roles of the non executive directors at the club who should have been the guardians of all shareholders interests and ensuring fair play,the role of the SFA in nodding through licences ( particularly for Europe )including the tenure of Smith.What price a wee dig around the roles of Campbell Ogilvie at Rangers and Hearts.
We should also focus on the role of Walter Smith.He was more than just a football manager at that club.He was at the very heart of it and was the first to break ranks and infer that Lloyds were effectively running Rangers.
I wonder if Pat Nevin,that self important observer of modern Scotland will be at Ibrox this weekend.I hope so.I hope also he listens closely and notes the dying refrains which he has so manifestly failed to detect previously.
Scumbags,cheats,bigots,bullies,liars.No words in the English language………