To give £134m context, it is approximately £3,600 for each Rangers season ticket holder. £18m of the debt is overdue to HMRC with another £75m due the taxpayer subject to the First Tier Tribunal, that’s £93m worth of schools, medicine, operations, social care, policing and roads. Or Help for Heroes, if you prefer.
This overspend is equal to the value of seven years season ticket income, acquired over 12 years. How on earth could this football club be so indulgent? The old board, including the Murray twins, Bain and No Surrender Johnston are responsible for the overwhelming majority of the debt. Whyte is responsible for the Ticketus debt but he paid money owed to Lloyds Banking Group, so even his portion of responsibility is partially offset.
Duff and Phelps gave an incorrect figure of £1.063m due to Football Creditors, which is the sum due to Scottish clubs, the SFA, SPL and SFL. Curiously they excluded £2.117m due to English and European football clubs, all eight of whom are due more money than seven out of the eight Scottish football organisations.
Football creditors are actually due £3.184m. It may be that Duff and Phelps are trying to differentiate between football creditors who have a say in how the company exits administration (either way) and those who cannot. If I was one of the English or European clubs this would alarm me. There is no ‘Football Creditor’ rule in Scotland as there is in England, obliging clubs to pay all football debts so this distinction seems arbitrary.
The creditors list is a sorry tale of humanity. Dozens of small businesses with staff and suppliers of their own, many from the Glasgow area. When a bad debtor of this size runs away from their liabilities the cost is real. I know one small business on the list, they deserve better, to borrow a phrase.
It was fascinating to read First Minister Alex Salmond’s fawning correspondence with Rangers yesterday, including his view that the 2011 ‘Billy Boys’ League Cup final was “a great showcase for Scottish football”. It would be interesting to know if he has asked any of his correspondents to explain their actions in the light of the social and economic consequences of their actions.
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Back in the 60’s & 70’s The SNP types were seen as ‘Little Scotians’,narrow minded & bigoted;so they carefully changed their tune and began to be seen as ‘the people’s party’ and rolled out a successful PR bandwagon.
Now,with Salmond’s intervention & the disclosure of his disgusting correspondence we can see that they truly ARE ‘the PEEPUL’s party.
I hope the veil has fallen for many in Scotland. This,along with so much else,is the fallout from the demise of the criminal,fascist organisation that is Rankers.
PF
:))))))))
Our legends charity game v manure had 50,000 fans. From this Oxfam received £300,000 for the east Africa appeal.
Buns legneds game raised funds for buns.
Did hately comment on these facts?
Rieperman
Think I’d rather read Alex Salmond’s letters to Rangers than look at that kit.
In any case, I think I read that the crest will be different next year to celebrate 125 years of Celtic.
Mort
Well I haven’t been called a hun for a while so here goes.
My application to be sit in the corner with Timbhouy…:-)
I don’t believe that RFC (suspicious there…using capitals) intended to avoid payment (digging the whole deeper), but Craig Whyte (ooops used his full name without prefix or suitably insulting descriptive) planned to use the proceeds of the expected European campaign, or at least use the leeway of knowing that it was due even if the accounts hadn’t actually received it. (deep deep sheugh now, going under for the third time).
BUT fortunately along came good old Ally and lo and behold…..no Europe and panic set in.
Admin was the only option and he got there as gently as he could.
If they had stayed on in Europe, Admin would still have happened but probably at the season’s end.
Hail hail
Estadio
Auld Neil Lennon heid on 6 April, 2012 at 13:15:
They are stuck in a vipers nest right enough.
I can see the appeal of a new club without the baggage that Glasgow Rangers have – and I’m sure some people will go down that route.
But for many fans, Rangers are the club that won the European Cup Winners Cup and had players like Jim Baxter, Willie Henderson and Brian Laudrup – any new club does not have that DNA and it will not be the same for them.
That was one large and mighty cracked hun crest on Scotland Tonight show. Whopper.
There must have been mass foaming into big blue buckets last night amongst those of the rabid persuasion. In fact it was even beyond cracked, it was nearer a state of disintegration…whoop. whoop…has the hun siren went aff yet oan Monkey Mountain?
Naaaawwwww,
I’m doomed to hell…
I’ll be waving no union flag as I’m pro an independent Scotland as well.
Albanaich
Hail hail
Estadio
can anyone fill me on on the Bike run that was being discussed yesterday? I was unable to scroll back and get any details. I did a couple of Inverness- Oban charity runs and might be able to offer a few pointers.
justbeinghelpfulcsc
by the way, with all that`s going it saddens me that we are still name calling each other on here. So what if we have a few lurkers from the dark side,we like to have our own fifth columnists as well.
HH
Mort.
Yeah the design is a bit Dunne Stores and of course you’re right about the crest.
Thank God for that.
estadio
If you are refering to me its
actually Timabhouy
Ya hun
Is the purported new strip for real?! That’s no Hoops! They is STRIPES!
No! I say No!
Now I feel like Foghorn Leghorn.
I’ll be going then……
up_over_goal on 6 April, 2012 at 13:25 said:
Isn’t Victor still suspended?
Timabhouy
Well that’s it…does that mean I’m alone in the corner…great line for a song. :-)
Hail hail
Estadio
I still think there is only one way to describe any Newco that may rise from the rotting corpse of Rangers FC PLC (in administration): Zombie Rangers
estadio
Alone in the corner you are
to the sound of ,the sound of music
Thanks for the hail hail,
hail hail
Don’t know if this has already been mentioned but how much do they owe us and what about the ticket money for the forthcoming game against them at Celtic Park, will they pay us upfront, if not don’t let them in, fill the ground with Celtic fans. No way will they pay us after.
Got to go as my pal needs his computer fixed and he asked me..
This should be fun as I spent the morning mastering the smooth delivery of the letters of the alphabet in reverse.
Got it eventually. The most difficult bit is ‘lkjih….’
I suppose he’ll find out soon enough that I am reverting to egg status.
Bye for now.
Hail Hail
Estadio
Estadio on 6 April, 2012 at 13:32 said:
Pretty much in line with my diagnosis of the patient, he was holed below the waterline anyway and was always drinking at the last chance saloon.
Do I get prize for the most metaphors in a single sentence?
COMPETITION TIME!!
I posted last night about 1.30 or 2 O’clock. There is a £20 reward for any CQN’r who spots Jabba and a £3 reward for Mr T English. Rumour has it he has departed these shores for Oz. I think the Scottish public is missing its greatest intrepid reporter at this sad time.
Any payment will be made through an EBT after full deduction of tax, and Oz taxes.
Paul67 et al
If you genuinely support Independence for Scotland you would not vote for the SNP. And you would certainly not vote for Alex Salmond. This is a politician who whose whole campaign is based on retaining both the monarchy and the pound, a campaign which, if successful, will leave Scotland subject to the Crown, and governed by the Bank of England. So, no change there then!
celt55
By jingo, you’re right. Thought it was just a one-match suspension:
One more try:
:::::::::::::::::::::::::::::::::::::: Zaluska ::::::::::::::::::::::::::::::::::::::::
Cha :::::::::::::::: Rogne :::::::::::::::::: Mulgrew ::::::::: Izaguirre
::::::::: Brown ::::::::::::::::::::: Ki :::::::::::::::::::::: Ledley :::::::::::
:::::::::::::::::::::::::::::::::::: Commons ::::::::::::::::::::::::::::::::::::::
:::::::::::::::::::::::: Hooper :::::::::::::::::: Samaras ::::::::::::::::::::
You will like this from RTC. (at the end)
JJ says:
06/04/2012 at 1:43 pm
Jim Delahvnt on Clyde at lunch time saying he was just off the phone to Whyte. Most revealing thing for me was Whyte claiming he had offered HMRC £2.5 million a year to pay off the debt “no matter how long it took”. Unsurprisingly, he was told to do one.
I deal with HMRC on behalf of some high net worth clients. It goes against their published policy to do deals with anyone who has indulged in tactics such as failing to remit PAYE or misuse EBTs. Anyone who says different has no experience of real life and taxes.
If HMRC did not follow their own policy, (they will) EVERY other defaulter would simply do the same and the Public Exchequer would suffer to a massive extent. The biggest load of absolute rubbish (and there have been plenty of choices!) was the statementask few weeks ago that the Treasury had “sanctioned” a deal. In the first place, the Treasury cannot interfere in such cases, and in the second place, it is beyond parody that they would OK a penny in the pounds deal when so many other EBT cases are to proceed to a Tribunal.
But then what do I know? Only 20 years with HMRC, a two year secondment to the Treasury, followed by 10 years with one of the largest accountancy firms in the UK.
Rieperman on 6 April, 2012 at 13:30 said:
My initial reaction was one of horror..but now I just don’t know…
https://twitter.com/#!/BarryBhoy1916/status/188225345122607104/photo/1
========================================
Sporting Lisbon.
Away strip, maybe. The new Hoops, never.
Rieperman on 6 April, 2012 at 13:30
Looks like the French international jersey (which I thought looked like Queen’s Park strip whenit came out last year).
Prefer the hoops myself
;o)
Auldheid
I understand the hold that Murray had over the pathetic apology for ‘hacks’ we have in this wretched little province is at a more base level than brown envelopes….or even succulent lamb…..maybe the oldest profession in the world might have played a role in the whole sad scenario.
Auld Neil Lennon heid –
I’ll understand if you decline to answer but which HMRC offices did you work in?
Jobo
up_over_goal on 6 April, 2012 at 13:25 said:
Good team. I’d like Kris Commons to start there, but I think I’d rest Gary Hooper and gives Anthony Stokes the nod. I think we both know FF will start!
Auld Neil Lennon heid on 6 April, 2012 at 12:47 said:
sixtaeseven: No NewCo in SPL and it’s Non-Negotiable! on 6 April, 2012 at 12:38 said:
I’ll tell you what is beginning not to wash with me and it is the legend (in spy terms) that the laptop loyal sucked up to SDM to get access to the best stories.
Well SDM is not there to give that access and still he is being protected. Is that not just a bit strange or does he attract a kind of loylaty that reflects the highest in human nature or does SDM know where brown envelopes are buried?
Where’s Traynor btw?
~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~ ~~~~~~~
As I have said time and again over the years,I would LOVE to have access to Uncle Jack’s extensive files.
Not that I’m suggesting that there is anything interesting in them,of course.
““As you are now so once were we” whispered my father in a dream I had last night.
“We meant no harm to any with our only daily ambition to put food on the table and coal on the fire. God knows how much of a struggle that was. God knows it took its toll on my heart”
“We were tested “
“Others hated our faith but not our toil; our faith taught us not to hate back and to think of our young. Our faith taught us humility”
And from a distance I watch an abominable acquiescence, a pact, a Masonic accord to endorse fraud and theft at an unbelievable scale and at the expense of Celtic, Catholics, atheists, and every Scottish person who does not align with Rangers FC and only and all for the sake of a football club.
A once proud nation whores itself for the sake of a football club. The treaty of Arbroath; The enlightenment; The Reformation, the Wars of Independence.
Who, where, would believe Scotland was so cheap her history?
If in my dream tonight my father comes to me I’ll say to him… “as they were then, then they will always be, but me, me and we, we grow stronger, our day draws nearer; And when I meet with you again, you won’t hear me whisper in my sleeping son’s ear, ‘As you are now so once were we’.”
Auld Neil Lennon heid on 6 April, 2012 at 13:53 said:
You will like this from RTC. (at the end)
JJ says:
06/04/2012 at 1:43 pm
Jim Delahvnt on Clyde at lunch time saying he was just off the phone to Whyte. Most revealing thing for me was Whyte claiming he had offered HMRC £2.5 million a year to pay off the debt “no matter how long it took”. Unsurprisingly, he was told to do one.
I deal with HMRC on behalf of some high net worth clients. It goes against their published policy to do deals with anyone who has indulged in tactics such as failing to remit PAYE or misuse EBTs. Anyone who says different has no experience of real life and taxes.
If HMRC did not follow their own policy, (they will) EVERY other defaulter would simply do the same and the Public Exchequer would suffer to a massive extent. The biggest load of absolute rubbish (and there have been plenty of choices!) was the statementask few weeks ago that the Treasury had “sanctioned” a deal. In the first place, the Treasury cannot interfere in such cases, and in the second place, it is beyond parody that they would OK a penny in the pounds deal when so many other EBT cases are to proceed to a Tribunal.
But then what do I know? Only 20 years with HMRC, a two year secondment to the Treasury, followed by 10 years with one of the largest accountancy firms in the UK.
====================================
Great post.
Glasgow Rangers mean nothing to HMRC but as an example, a sacrificial lamb to make the ENGLISH teams sit up, take notice and get out the cheque books – THAT’S where HMRC will make back their money, from the ludicrous English TV deals, NOT the pilfering amount Rangers could generate for a CVA which will never come close to denting the historical debt.
The Huns are dooooooomed. Bud Flud is on the way.
Of all those dreadful, dreadful, dreadful debts to the creditors the one I really thought was a terrible disgrace…William & Sons Plumbing Co. unpaid 525 quid bill…a pony and a monkey in a tug of war…that was the cost of unblocking the ibrox drains when FPLG punished the porcelain after he binged on half a dozen McGhee’s Pies…
wonkyradar
It was the stobhill hospital for me
why do they owe money to a hospital ?
I was expecting to see they owe
money to the Royal hospital for sick children
Rangers a national scandal
Can you imagine the reaction if this was Celtic’s mess?
Every politician and media person would be demanding that we were closed down.
How the so-called “Heros” could have done with this money not to mention their cash-strapped country, yet still they sing rule Britainnia and God Save the Queen.
Estadio on 6 April, 2012 at 13:32 said:
Yup
How I smiled at the Maribor and Malmo results. (CW would have borrowed against the UEFA income to see them through. )
Rangers policy since 2007 has been to pay their debt with CL money, hence the absolute necessity of getting at it and why refs got it so wrong, so often. It is ironic that even after finessing their way past UEFA licencing rules to get entry this season they got knocked out.
In fact had they not I’m sure the demands for an explanation as to how a licence for a bill that is STILL unpaid, would have been much stronger.
This weekend’s CQN coupon –
Awalkacrosstherooftops Stoke @ 4/7
Estadio Nacional Southampton @ 1/2
Blantyretim Birmingham @ 1/2
Greenlion2 Sheff Utd @ 4/6
PF Ayr Torquay @ 8/13 (Playing today at 3.00)
Jobo Baldie Morton @ 11/10
Lennybhoy Ross County @ 6/5
The Token Tim Stranraer @ 8/11
Given our form you’ll be glad to see that noone has gone for the Good Ghuys.
Jobo
Auld Neil Lennon heid
Do you not think HMRC are very poor at doing their job,in the sense that they let companies rack up unpayable debt,and end up settling for scraps? Leeds Utd for example .PS Not complaining about the huns situation,they brought it all on themselves :}
Burnley78
Are you able to divulge any more?