Football debts and non-football debts are often dealt with differently by club administrators. Un-secured creditors generally have to wait in line but a football club has a different mechanism to regain lost income.
Rangers FC PLC (in administration), as the excellent Paul McConville informed us the club should legally now be referred to, owe money to Dundee United for the recent Scottish Cup game, Hearts for the transfer of Lee Wallace and Dunfermline for tickets for last Saturday’s league game. All three clubs have recourse to the SPL and SFA if the administrator hangs them out to dry, but they will not be the most pressing concerns for Rangers FC PLC (in administration).
Inverness Caledonian Thistle are due money for tickets provided to Rangers FC PLC (in administration) for their match at Inverness later this month. Rangers FC PLC (in administration) have sold tickets for this match and will, presumably, continue to do so, however, the administrator will have to decide on a course of action:
Pay Inverness or withhold the money for other purposes and ask the club to admit their fans without payment.
In this instance, other purposes would be: payment of their administration fees, payment of other creditors, payment of footballers to face Inverness.
How Rangers FC PLC (in administration) deal with Inverness will be an early concern, but our old friends Rapid Vienna, who are due the final payment of the Nikica Jelavic transfer, will complicate matters further down the line. Their recourse will be to Fifa, who ensure transfer fees are paid, without reference to administration or even a prepack liquidation.
The concerns Celtic Quick News first raised in October about a prepack fait accompli being offered to the SPL now feels less threatening.
One final push (this week) for the Vanessa Riddle Appeal. We have a Celtic top signed by the first team squad available to auction on eBay. You can bid on the auction and help send Vanessa for the treatment she needs by clicking here. Thanks to Penfold for the donation and to Taggsybhoy for organising (yet again).
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GerryBhoy says:
15 February, 2012 at 16:33
What was the SNP position on previous large job losses. Were they as concerned when the following happened:
Scottish College staff – 1000 jobs
LBG – 200 jobs
Highland Toffee – 185 jobs
Sausage factory – 11 jobs
Do the SNP consider some jobs to be more valuable than others?
Mort
Spot on Mort. How many jobs went down the pan when Woolies shut up shop and did we hear any equivalent concerns from SNP (or M. Gurran for that matter)?
Gerry
………..
Are you two being serious?
Of course the Scottish Government issued statements and offered support for every major loss of jobs in this country. To say they didn’t just makes you look daft.
Dontbrattbakkinanger 16.43
answers and clarity!!!!!!!!!!
The idiot paid his own transfer fee for flups sake and he didn’t smell a rat!!!!!!!!!!!!!!!
Slaps head in amazement.
All day on the radio, one after the other, a procession of experts and well meaning individuals from the establishment have counselled all fans and members of the public generally to sympathise with Rangers, and have invited us to encourage the taxman to go easy on Rangers. This, they tell us, will be better for Scottish football and industry in the area generally.
There is absolutely no perspective, no repentance on the part of Rangers or their apologists.
When all this kicked off in the mid 1980s (i.e. Rangers using their financial muscle to the detriment of everyone else) Aberdeen, Celtic, Dundee Utd and Hearts and, to an extent, Rangers all competed for the title and trophies, in what was, most years, a highly competitive ten team league. Scotland was well represented in the final stages of European competition and in World Cups.
A lot of things have happened since, the Taylor report, Bosman, the Sky deals etc, but after 25 years of Rangers financial muscle what are we left with:
Aberdeen emasculated in their efforts to keep up. A succession of managers sacked, players discarded, huge debts, downsizing commercially and disastrous and humiliating results (particularly against us and in the Scottish cup);
Celtic now flying -and what an amazing ride- old board gone, Fergus, share issue, Seville, etc and, ultimately, a decision, nine years ago or so, to re-embrace financial prudence with concomitant footballing losses and suffering on the part of the support;
Hearts is a total basket case, sold its financial soul in an effort to keep up. Managers sacked, board driven out, Tynecastle in peril, numerous job losses, players discarded etc;
Dundee Utd are a shadow of what they once were, have been relegated at least once that I can remember for certain – managers sacked, players discarded, downsized and so on.
Then there’s the likes of Motherwell, Hibs , Dunfermline, Dundee and others who participated in the financial madness initiated by Rangers and were badly damaged. Worst of all, maybe, Partick Thistle who, having been through some sort of insolvency event themselves, tried to play fair only to be relegated, never to return – so far.
How could anyone in the football community be saddened by the demise of Rangers. They have brought the whole of Scottish football to its financial knees and are the authors of untold misery.
The vast amount of money Rangers have failed to pay in taxes could do vast good in the public realm, supporting hundreds, possibly thousands of jobs. Think of the hospitals and schools that could have been built and staffed had Rangers paid their taxes, the students or young apprentices that could have been supported, the care for the elderly and for the disadvantaged that could be delivered with such taxes. Think of the extra you will be required to pay if a deal is cut with the tax authorities. I don’t care if it’s £36, £49 or £75 million they owe, whatever it is they should pay every penny. They are loaded: Ibrox, Murray Park, the players, the land, the secret accounts – I don’t doubt they exist. No slack should be given, no deal cut. Remember, this institution was happy to take Dave King and ENIC’s money for no return to pay some of their debt that bought them success in the 90s, and to foist the rest on the unsuspecting shareholders of MIH when the hoards refused to support the share issue. This mob was happy to pay only £18 million of a £30 million or so debt to Lloyds bank – the owner of a bank that would have closed us down for a paltry £7million- a bank half owned by the taxpayer.
We now know lots of good people, the length and breadth of this country, who were in fact doing a good job (e.g. Willie Miller, Roy Aitken and countless others whose names are unknown), lost their jobs, their way of life, because of Rangers unethical financial chicanery. Rangers don’t give a damn about their responsibility to the public and I don’t see why the public, Rangers fans included, should want to have anything to do with such a hopelessly flawed organisation.
The last thing anyone –politician, statesman, public official, accountant, businessman, journalist, clergyman, broadcaster, member of the public, etc- should be doing is encouraging the taxman to go easy. The very suggestion is wholly immoral.
ernie lynch says:
15 February, 2012 at 16:41
Just a hunch but everything happened quickly since Craig Whyte’s ex wife made the move to divorce him.
The bluff was called right there when her lawyers probably wanted half of his billions and the cupboard was bare. His wealth is off the scale just not in the right direction.
Remember Michael Knighton’s takeover of Man Utd? That was dodged at the last minute.
How Craig Whyte had the baws to lift that trophy last season is beyond me. The man has no shame!
LB
Some little known facts about Duff and Phelps.
Mr. Duff is none other than the owner of Springfield brewery.
Mr Phelps is none other than Brian Phelps, Olympic diving champion prevoiusly employed by
R@ngers as an…….erm…….technical coach.
Not a lot of people know that.
Awe_Naw_No_Annoni_Oan_Anaw_Noo at 16:36
THAT IS PROBABLY THE BEST ONE YET – ABSOLUTELY FIRST CLASS !!!
Only under the following circumstances, could I agree with Shona Robison.
1. rfc officially apologizes for cheating.
2. all trophies “won” during timeframe in question are stripped and retroactively “awarded” to runners up.
3. Rfc fulfills all outstanding financial commitments.
4. “rfc” re-apply to join the ranks of professional football clubs in Scotland.
I agree completely with an earlier post re Messaging. the record will show that rfc have engaged in criminal activity which defrauded the tax payer of millions. don’t let any garbage about jobs (comical btw, how many jobs can you support/create/save with the amount of money in question?) proud (puke) Scottish institution / interests of Scottish football dilute the issue. The record will show tht Rfc have cheated the taxpayer. Is this behavior you advocate ms Robison? Didn’t think so.
An apt wee ditty for the LL……………
http://www.youtube.com/watch?v=Pnbb_zfIxBY
TBB-23 happy years…………………then you met her.(good luck with that one BTW).Best wishes.
greenjedi at 16:46
Have you anything specific? I seem to have missed those quotes but glad to be corrected.
Mort
greenjedi
Sorry the level of repeated endorsement and high profile on this is significantly greater…..
The suggestion of financial support takes it to a new level IMO……
Burnely78 – You will not want to see what Salmond just said then….
tonybhoy says:
15 February, 2012 at 16:36
http://www.celticquicknews.co.uk/?p=7840&cpage=3#comment-1296370
Ernst and Young football finance analyst Neil Patey see it different from you see link above
Hail Hail
Ernie
I don’t think you read my post in full
Rangers did pay HMRC costs yesterday and were happy with the administrators being appointed. That is Rangers as in “Mr Whyte”.
As I said – good news for Mr Whyte on who the administrators are.
Bad news for Rangers. Rangers being the club and the fans leftover when Mr Whyte is not there. In that respect Rangers did not pay HMRC costs yesterday. Mr Whyte did.
The point I was trying to make is that what is good for Mr Whyte intrincsically linked to what is bad for Rangers.
Lads rumour in my work place that Jim McColl is going to buy the huns and save them.
He has recently sold two businesses for huge profits.
Huns Saviour??
Mort – Aye pretty worrying stuff over there; but not for us:)
I’m enjoying the midweek drinking (moderation of course).
slainte
tony
picinisco says:
15 February, 2012 at 16:46
Exactly! Well put.
HH Gerry
My dear,dear,dear ,friend.. Torontony
Luverly Grub!
Thanks a Million..
Yer Effort in Meeting Ma Request could only be described as being
a BROBDINGAGIAN .. Wan!
And.. Ah mean that Sincerely,pal.
Good woik!
Luv tae Read whit they are saying among themsels..
Which only Vindicates My Firm Belief that
the average G.A. Supporter is .. o’…
Below..Average…in Intelligence!
Fur Their Understanding o’ jist How Serious the After Effects oan the Future Viability of their Club to Remain in the Forefront of the Scottish Fiba’ Scene..this Entering intae Administration… wull generate.
Palpably Ignorant ur They!
Kojo
yer pal.. who thinks ye ur swell.
Many and hearfelt thanks to all the wit,photo & video links posted here today.
The innumerable quotes you could take from some are infinite.
And….is C.W. the original Bug-Eyed Bean From Venus,or what!?
And….it looks like Chemical Ally’s been weepin’ hisel’ sick!
Priceless.
I’ve forwarded much to brother,working hard,so that he can fill his boots tonight,and laugh as much as I have! Thanks again.
what is good for Whyte is bad for Rangers.
what is good for HMRC is bad for Rangers.
No.7 – there is a rumour in my work that Santa is going to drive me home in a unicorn pulled cart made of cheese tonight. My rumour is more likely.
Paul67,
Thanks once again for shining a light on the forces of darkness murky murky world.
Ibroke should be a memorable occasion for Celtic whether we win the League there or not.
They always cast up about Parading the Balance sheet rather than winning trophies and it really annoyed because we all knew they were at it on so many different levels.
It would be quite the thing if we “Paraded the Balance Sheet” at Ibroke for the last match ever against them. ;) Get it right up them like!!!!
greenjedi says:
15 February, 2012 at 16:46
What due to tax evasion ?
Hail Hail
awe naw
I had to go back and check my post again as you are the 2nd to question me and again it seems you don’t get my post
Jock Stein seems to understand it
What is good for Mr Whyte is bad for Rangers. Administrators being Duff and Phelps is good for Mr Whyte.
No.7 says:
15 February, 2012 at 16:54
He’s an obvious candidate to be involved in a newco after liquidation. But he won’t be involved before then.
Never been one to bash Peter Lawwell but a few people have on here. What are their thoughts now?
Personally I think the board have played it beautifully. We may not have won the last 3 titles but I would far rather the club was run properly. Celtic will be around forever.
Well done the board and god bless Fergus.
LB
RogueLeader says:
15 February, 2012 at 16:56
No.7 – there is a rumour in my work that Santa is going to drive me home in a unicorn pulled cart made of cheese tonight. My rumour is more likely.
I know mate i just get worried that they will get saved and continue forever.
Its all slowing down now i want bad stuff to happen to them every hour on the hour.
tonybhoy says:
15 February, 2012 at 16:58
I think it is inconsequential but you are about to put me right I´m sure ;-)
Hail Hail
RogueLeader says:
15 February, 2012 at 16:56
During weeks and weeks of funnies on here, that one was an RL original and a goody.
TAL
TAL
TAL
Afternoon Bhoys first opportunity to look in today.
In service day, which was held in the local secondary school, and I encounter the first Tim who wants them to survive!!
Standing in the queue for coffee this morning I couldn’t help but over hear the conversation of the two guys in front of me who were discussing the events of the last few days. They moved on to the comments of Patricia Ferguson, Nicola Sturgeon et al regarding the significance of rangers as an employer in Glasgow and what it could mean for the businesses in the surrounding area.
When they both agreed that hun extinction would be a disaster for Scottish football, I couldn’t remain quiet any longer. I really do need to learn to mind my own business and allow folk to make clowns of themselves without fear of interruption.
I blame my father, oh and those pesky Catholic schools of course!
What a couple of days and the hits keep coming.
Paul67 you have done a great job, keep it up!
I too do not have the words in any language to express how I feel. But in honour of No. 67, Mr Wanyama might I suggest:
ad victor spolia (To the victor, the spoils.)
Dunno if this is right as I didn’t study latin after Ecce Romani 1.
Hail Hail.
LiviBhoy says:
15 February, 2012 at 16:59
I agree completely …but we still could get better bang for buck.
Hail Hail
South Of Tunis says:
15 February, 2012 at 16:37
Mmm —–
There are some very interesting people who have a financial stake in Palermo FC . I wouldn’t want to owe them money and then find myself unable to pay my debt.
Not the old ‘horse’s head in the bed’ routine surely?
LiviBhoy says:
15 February, 2012 at 16:59
We may not have won the last 3 titles but I would far rather the club was run properly.
———–
YOUR A NAUGHTY LIVI BHOY,
Personally I would have enjoyed more, 3 titles won, while the club was run properly, and the hun demise would have happend 2 years ago.
so there.
eat yor jelly and ice cream or get tae bed.
Bhoys before there liquidation they will have many false dawns there will be rumours there will be rumours about rumours.However,who in there right mind will put in up to 100 million pounds and thats just to bail them out? how much more to keep them running.The fact of the matter is there will only be bones left of the dinosaur for the true blues to fight over.The true orcs who have some money will be more intrested in who controls the new co. the old one is finished.H.H.
Am I correct in my understanding that the Administrator is paid before ALL others for the duties undertaken.
Now, my limited experience, would question if this was just a 2 man operation. I would look at 6 staff in the field (front end) with another 6 in HO doing what they do.
You may consider that the charge out rates for these personnel are exorbitant, I could not possibly answer.
Paddy T
they just should have built the casino and that would have solved all of their money issues.
maybe they could build it now?
reading comments on the rags it seems that scottish football cannot survive without one half of the #$% firm but could have back in 94.
strange days indeed never in my life would i have thought that i would be so happy.
as R.E.M said, it’s the end of the gers as we know it it’s the end of the gers as we know it and i feel fine.
http://www.youtube.com/watch?v=RnjzOpdc1x0
The day that Rangers died