Before the SPL launch headlong into the process of ensuring Financial Fair Play they would do well to look over the water at the Irish Football Association (we’ll leave aside the fact that it’s the Irish FA who are on top of this situation there, but the league who are looking to tighten things up here, as the SFA await the next Any Other Business moment on a scheduled meeting).
Each month, every IFA club are required to complete a form which details information on whether wages, PAYE, NI and VAT have been paid. It also asks if historic HMRC repayment plans have been maintained, whether lenders have indicated they will remove or not renew borrowing facilities and several other questions designed to flush out future problems. Clubs, which are largely part-time with volunteer administrators, are also required to submit audited accounts.
Importantly, clubs must also authorise the IFA to inquire directly to HMRC to confirm details on the form are submitted accurately.
This single form, with authority to speak to HMRC, would have prevented Craig Whyte’s ‘business model’ from getting off the ground.
While the SPL should be applauded for tackling this issue their action must embarrass the moribund SFA. Embarrassment might reach further heights when the SPL call SFA president, Campbell Ogilvie, to give evidence into their inquiry into Rangers’ alleged double contract practice.
Issue six of CQN Magazine, the Fit and Proper edition, is set to become a landmark collectors item. You can browse the magazine online here but you can buy your own hard copy by clicking on the link below. Read with 20-20 vision…..
You can support the online edition by making a discretionary donation here.
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Why the feck would we ever consider signing Wylde? Mental.
This Doncaster character is not filling me with optimism…is he designing a parachute from the huns old union jacks as we speak?
Please would someone post the URL for the BBC live feed, as I can’t see it on my discreet minimised version of the BBC Rangers page. Thanks in advance.
Sorry, I shouldn’t use the words “Rangers” and “advance” in the same paragraph. They have enough debts already, without me adding to their woes!
Like Rangers, I just can’t get enough!
Off oot.
May God Bless ‘Every’ Celtic Fan.
Hail! Hail!
Rangers Football Club. Rest In Piss.
Big Chips
http://www.bbc.co.uk/sport/0/football/17285309
It’s nearing the end of the storm.
I can see the golden sky.
I can hear the sweet silver song of the lark.
Just watched Nicholas cheering Arsenal on SSN, what a two faced FUD.
We were 8 minutes from Administration (for £2m if memory serves me), they are already in Administration and staring Liquidation in the face for probably over £100m and probably a lot lot more
There is still a real misunderstanding about why we want titles taken off the huns. It is not spite. It is because they won them unfairly.
A comment from the BBC updates: “It’s difficult to reconcile what’s happening at Rangers to the success the club enjoyed during the trohpy-laden nine-in-a-row era.”
Actually it’s not difficult at all.
If there are multiple redundancies made by admin guys at MP today…with the players not doing “walking away” can they not hire those golf buggys to take them back to their 4x4s…or even better sack them all at once and use one of those milk floats?
As much as I dislike champagne Charlie, it is possible to have to soft spot for more than one team – see his celebration in sky sports studio with Jim White when we beat Milan at CP.
King walks out of a meeting with the Administrator and thinks liquidation is inevitable and HMRC would have every right to close rangers down NOW!
Murray walks out of a meeting and thinks a CVA is no problem and he will own rangers within a few weeks.
Is it me?
Paul Murray has disputed claims by Rangers’ director Dave King that liquidation is ‘inevitable’ for the club.
In a 1200-word statement, released on Wednesday morning, King said: “I do not believe that there is a reasonable prospect that the company can come out of administration. I believe that liquidation is inevitable.”
But former Gers director Murray believes there is an alternative, whereby the club would agree a Company Voluntary Agreement with creditors, thus allowing the Ibrox side to leave administration.
“I’m surprised Dave King has actually released that statement,” Murray told Keys and Gray. “I obviously agree with a lot of things he said as it’s a pretty comprehensive statement but not in regard to liquidation.
“Talking to the administrators, I’m certainly not working on the basis that liquidation is inevitable.
“I’m working on the CVA proposal as the way forward, and that’s in the best interests of the club.
“We need to settle our debts but at least that enables the club to emerge out of administration into a new form.
“It’s a personal statement and reflects his personal views. I agree with a lot of what he said, but with regard to liquidation I’m not sure I agree with that.”
Former Rangers director Murray also claims that his consortium, commonly named the Blue Knights, will make a bid for the crisis-hit club before the end of next week.
“Any insolvency process is very complicated,” he added. “The administrators are three weeks into the process and working through some pretty complex legal situations.
“I’ve met with them twice and they’ve been pretty helpful in terms of giving information. They’ve also been set a date of March 16 to get to the first round of interested bids and I fully intend to be making a proposal on that day.”
It was a question of when, not if, with the administration.
It’s now a question of when, not if, with liquidation.
Assumptions that creditors will agree to a CVA seem to me to so misplaced as to border on the delusional.
Superman, Batman, and Diamond Dan put together couldn’t save Rangers now.
Like a slice of bread warmed to a crispy texture in the glow of an electric filament, they are toast. (thumbsup)
So King currys favour with HMRC with these words in his statement
‘Now that I have evidenced the true position I wish to commend HMRC for showing the maximum restraint that it possibly could have under its mandate to collect taxes that are due.
The empathy that HMRC has demonstrated to the club and its fans is particularly gratifying given the abuse perpetrated on HMRC by Craig Whyte in withholding ongoing tax payments to fund the club- while simultaneously pretending that he was using his own funds’
And yet another tax authority in a former British colony says this
‘It was remarkable that King showed no sign of embarrassment or any emotion when he conceded that he had lied to the Commissioner in a number of his income tax returns. In our assessment he is a glib and shameless liar’
Why has our intepid media not picked up on the conflicts here or are they to caught by the speed of each days developments to the point they miss the glaring irony
As I understand it, any newco must be completely devoid of any links to the oldco. Does that include any attempts by the newco of showing off the ‘booty’ as theirs or indeed of claiming any part of their inglorious history as still theirs?
If they are allowed to dump the debt and just start off again as if they’d only had a wee hiccup, as a creditor I’d be marching right back off to the courthoose tae get them right back into the poo again. C’mon HMRC, say something….
ASonOfDan –
But former Gers director Murray believes there is an alternative, whereby the club would agree a Company Voluntary Agreement with creditors, thus allowing the Ibrox side to leave administration.
If the taxman and all Rangers’ other creditors agree to forget about the millions they are owed, if the players agree to work for free, and if Ally McCoist’s lottery numbers come up in the Euromillions, Rangers will be saved.
Be afraid, Timmy. (thumbsup)
I notice Murray P wants the huns to settle their debts, not actually pay them off.
Does he really think they can just take £100M+ of debt, throw a few million at it, write off the rest and carry on as before?
Kev Jungle
We have lived for decades believing childhood films that a wooden stake through the heart rids us of such evil. The heart is not the organ which needs to be attacked here. It is the neck, and the tool used has to be able to penetrate brass.
The man who would have applied the fit and proper weapon, would have been Paul McBride. Tragically, he will not now have his days in court. However, I am sure he will have made the Celtic Board only too aware of the skullduggery afoot and I hope that his professionalism and integrity will remain stamped all over Celtic’s response to all of this.
As it stands, no one from Celtic will strike the killer blow. Diving in amongst a pack of hyenas as they devour themselves would be ‘stoooopid.’ They will wait and ‘dossier’ to death any mortally wounded Orcs still standing.
The Dave King statement is posturing.
The “walking away” remark from Arbroath is posturing.
AJ’s “no surrender” is posturing.
Paul Murray’s “bid” is posturing.
Chico’s blustering is posturing.
The Admin pantomime is posturing.
EVERYBODY knows the score.
David Murray killed Rangers and Rangers will be liquidated.
Meanwhile they all work to their separate agendas.
The Rangers men want to keep whatever goodwill they have left – they don’t want to show up at Hampden to watch Walter’s Warriors 2013 and get pelted with pies.
The so-called journos are fighting to maintain their supply line. Without the access to
Hundom, life will be oh so more difficult for them.
The admin guys are just racking up the fees and keeping the peace until the money DOES run out or The Big Tax Asteroid takes the sorry mess out of their hands.
That’s how it goes.
pigalle
“I’ve met with them twice and they’ve been pretty helpful in terms of giving information. They’ve also been set a date of March 16 to get to the first round of interested bids and I fully intend to be making a proposal on that day.”
Why wait until deadline day. Either you have the money or you don’t. or is he waiting to see if any more pledges come in to https://www.saverangers.com/
Come on lads, let’s get this up to over £20m and see if it helps him make a bid.
Mort
Gordon_J backing Neil Lennon on 7 March, 2012 at 12:43 said:
I notice Murray P wants the huns to settle their debts, not actually pay them off.
Does he really think they can just take £100M+ of debt, throw a few million at it, write off the rest and carry on as before?
………….
Yes!!!!
Greater Manchester Police spokesperson, “We are delighted to welcome Rangers 1690 to Stalybridge for todays Conference game.
We have drafted in 5,000 officers for thus match. All pubs and supermarkets and off licences have been closed for 48hrs throughout Greater Manchester.
There will be no large tv screens. We will also be stopping any Chelsea or Millwall fans from attending. We will be providing community.singing of God Save the Queen and Rule Brittania.
We have met with the Rangers 1690 Supporters Trust and pointed out that Stalybridge Celtic are neither Catholic or Irish.
Jelly and ice cream is a common half time snack in these parts.”
Is this the same Dave King who has a £250Million plus tax fraud case outstanding in South Africa?
The same guy who cannot return to said country for fear for his liberty?
Are we to take his word?
Especially the last paragraph about “no loss of titles”.
If this is” thee man” then Scottish football is dead.
EC67
quarterfinalfinalpartytitlepartynextfourweekendsCSC
Mort
I have stopped doing it as I have ran out of names and I think pledging around £250,000 is quite enough… :)
The Ranjurs players have been in and out to see the admins so many times now that Ally is having to warm up the subs.
” Megabucks ” King gave Minty £ 20 million in exchange for 5 % of Glasgow Rangers.——-5 % !
12 years later he owns 5 % of a company which was sold to a vulture for £1.
12 years later he owns 5% of a Company which is in Administration.
12 years later he owns 5% of a Company which is very likely to go into Liquidation.
12 years later he owns 5 % of a Company waiting to hear how much it owes HMRC .
He paid £ 20 million for 5 % —-
Murray certainly had’ front ‘
Manchester based tims / googybhoy ♥ Celtic and Integrity
Guys, I’m going down to Manchester for a stag do on the 17th with a group, most are heading back home on the Sunday morning but some of us are staying on for the Sunday and the final so we’re looking for somewhere to watch the game – any good Celtic pubs or Celtic supporters clubs you’d recommend? (unfortunately there will be one Rangers fan, too intelligent to be called a hun, but still… and one Roma fan who in his heart favours Celtic but kids on he supports Rangers to wind me up in the group of 6).
What will they call Follow Follow after Jellygeddon?
Funeral Funeral? (thumbsup)
Is it for HMRC to decide the timing of the release of the outcome of the FTT?
If so, is it possible they already know the outcome but are biding their time until they see how the administration process pans out?
HH
Who’s going to be first to set up the new blog?
It could be named :- The Kings Tax case
I’m sure there are many great headlines out there mixing together HMRC, King, SARS, RAND etc..
No point in waiting for the MSM to investigate Dave King.
Has Tommy got his phone number?
.
Latest nonsense from FF, surprised the bampot did not just blame Kafflik Skools and be done with it.
Directly or indirectly, Rangers’ use of Employee Benefit Trusts has forced the club into administration and to the verge of liquidation.
Nevertheless, the club’s enemies wish to inflict further damage by claiming Rangers gained an advantage from ‘financial doping’. Moreover, there are even demands that trophies won by the club over the past 12 or 13 years be stripped due to an alleged omission in the documentation pertaining to players’ registrations.
Let’s deal with the registration issue first. Rangers’ position was that the EBTs were non-contractual and therefore should not be included in documents submitted to the SFA and SPL. This view is supported by experts in the field (see yesterday’s Herald article). There was no attempt to mislead or to keep the EBTs hidden. Section 6 of the annual accounts (‘Staff Costs’) explains the purpose of the trusts and enumerates the sums involved.
Therefore, the logic being used by the club’s antagonists is fatally flawed – it demands that sanctions be imposed because of judgments made many years after the EBT scheme was introduced. This is completely unacceptable in my view and contrary to natural justice. Any objections about the registration issue should have been raised at the time. The fact that complaints are being made officially only after a decade has elapsed and, indeed, only after the club entered administration and is consequently unable to defend itself, speaks volumes for the motives behind recent moves.
The ‘financial doping’ argument also borders on the absurd. Most accounts of the money Rangers FC saved over the course of a decade put the figure at £24 million. This represents less than 5% of turnover and equates to the sums flowing from the club to the Murray group over the same period. Indeed, Rangers FC actually paid the Murray group at least £6 million for the ‘privilege’ of the trusts being administered on its behalf!
Figures provided by Martin Bain in his case against the club indicate that the combination of interest charges and the penalties being sought by HMRC mean that the club is required to pay back approximately twice the sum of £24 million. How on earth can this situation be referred to as ‘financial doping’? My interpretation of the phrase would be a permanent advantage gained by underhand means or assistance from outside bodies.
Of course, this definition would encompass the support Celtic FC has received from the taxpayer and ratepayer in relation to the purchase of significant tracts of land in the vicinity of Celtic Park for the sum of £1 and the huge financial benefits that will accrue from the Commonwealth Games and associated redevelopment of the Parkhead area. As opposed to the obstacles the local council put in Rangers’ way, everything possible has been done to assist Celtic, even down to the gift of London Road Primary School and retention of the Barrowfield training pitches.
Encouraged by a mass media which panders to their psychoses, the Celtic-minded hordes are whipping themselves into a frenzy of retribution and vindictiveness. Business professionals and lawyers spend hour after hour on websites and blogs scrutinising the minutiae of Rangers’ use of EBTs from every conceivable angle. The rank and file concoct evermore fanciful scenarios of punishments that should be meted out to Rangers FC. In stark contrast to the orgy of hatred accompanying Rangers’ current problems, it is worth noting that in 1952 the club defended Celtic when it was under threat of expulsion from the SFA due to its refusal to comply with an order from city magistrates to remove the Irish tricolour from the main stand.
From the Celtic boardroom to Baird’s Bar, all sense of perspective has been lost and the wider ramifications to Scottish football and, indeed, Scottish society, have been completely overlooked. This is not normal behaviour and these are not normal people
Googybhoy, thanks.
Gordon_J (12:36): A comment from the BBC updates: “It’s difficult to reconcile what’s happening at Rangers to the success the club enjoyed during the trohpy-laden nine-in-a-row era.”
Indeed… They seem to miss the point that the two are inextricably linked.
Papac Papped?
EdwardDebi: Papac has just left MP. still no word on whether an agreement has been reached #rangers [via Twitter]
Thanks for the Celtic underground pod link, Great Listen. thanks guys. just joined their site.
KLV
Afternoon all,
I mentioned this last night, if we are to believe that the players want clauses in their contract stating they can leave for free at the end of the season, what incentives does this give to potential buyers of the club?
Surely the administrators would be working to sell the club as a viable business? or are they just as pash at it as we all think??
ASonOfDan @ 12:52 – TL;DR from the huntellectual there.
Re: stripping the cheats of their titles.
If the EBT payments were non-contractual, the claims made about hun players having two contracts won’t be true.
If they did have two contracts, and these weren’t registered with the football authorities, the only correct course of action will be to strip Rangers of their ill-gotten titles.
Either way we’ll soon be enjoying steak pie, ice cream, and jelly at Rangers FC’s wake. (thumbsup)