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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Although i am loving every minute of this at the moment , many many years of experiencing the way that club are courted in this country is making me wary that a fix is coming . Like many others on here we have witnessed the rule book getting put to the side to accommodate this outfit , and even mp,s , msp,s and other government bodies are making a case for leniency on this corrupt tax dodging outfit which i find hunbelievable. I posted a few weeks ago that ” I would never believe the demise of this club till i witness them welded into their coffin . buried halfway into the earths crust then a motorway built over them” but what i find even more alarming, is the fact that no one has mentioned that this mob have broken the law , tax evasion is still a crime in this country is it not , yet no word of legal action being taken against those responsible . James forrest wrote a sparkling peace in the last thread ,i salute james. he called it as it is and hit the nail on the head , and we celts should post that article all over the web ,and let others not influenced by the “we arra peeple ” know what is going on up here, and that in the uk where hundreds are losing their jobs , thousands in poverty , and the country as a whole in a mess, that in scotland we have mp,s msp,s and others in authority who think that a solution should be found to keep this club afloat . It is up to us to make sure that the pressure is kept on this club and its helpers , and we know who they are .
hail hail
jimtim
Paul67
Would it not be easier just calling them the AdministrHuns from now on?
:-)
Paul67
After the Admin guys take their fees, how much cash is realistically left over?
Coming up to a time of year when cash flow is a normally a problem, I would guess that MBB has squirreled a bunch of cash offshore , never to be seen again, and that his statement that the players would be paid in Feb , should be taken like all his other statements with a pinch of salt.
Yes they will be paid, those of them that are left, and those remaining on the reduced wages put to them by the Admin.
Total carnage to follow, first question for the Admin boys , big payers out the door first, seems sensible to me
crystalballcfc
Paul – that’s all I wanted to hear!!
SoHappyICouldBurstCSC
Until we meet again…
Keep the Faith!
Hail Hail!
I’ve been trying to console a few Orc acquaintances of mine by telling them “don’t worry – the club will go bust, but Sir Tom Hunter will buy the stadium and start a new team. Of course, you’ll get stripped of your ill-gotten titles, the count will be ‘zero and hoping’, you’ll need to buy a new team by pillaging Hearts and Motherwell, and you might need to start in the 3rd Division. But at least you’ll still have somewhere to go and shout racists chants, in a loyal and dignified way.”
Even with all our Ice-Cream & Jelly banter, we’re still being more gracious than they ever could be.
Happy days – another great article Paul67. I remember years ago reading some review of your site describing it as “written by some guy fantasizing about rangers financial difficulties…” wish I could find it now haha.
Anyway for my benefit could someone spell out Paul67’s “The concerns Celtic Quick News first raised in October about a prepack fait accompli being offered to the SPL now feels less threatening.” comment. i.e. why is this now less likely, is it because of UEFA/FIFA or just that our hero (not Paul67, Phill or RTC, but the scooby doo villain himself CW) has been overtaken by events?
‘Oh dear things not looking good for Rangers’ – Jeremy Vine
HH
No to Newco
South Of Tunis says:
15 February, 2012 at 13:43
As with all stereotypes, the image of the typical Italian driver is an exaggeration. Or so I thought until we went to Sicily. We were undertaken by motor bikes on the hard shoulder, in moving traffic and spotted a car reversing along the same lane because they had missed their exit. EEK!
Administrangers.
StarryPlough @ 13:09
But hasn’t he eaten all the pies already?
HH
BRTH
Excellent idea.
Perhaps post that onto some forums and gauge the reaction?
‘Oh dear things not looking good for Rangers’ – Jeremy Kyle
HH
No to Newco
play
Walter Smith .. Ally Mc Coist taking EBT´s ???
I wonder what Tommy Burns would have thought of that
HAil HAil
Caller to Radio2 their calling for Mintys gong to be with withdrawn.
He’ll not be happy hahaha
HH
NO TO PREPACK
NO TO NEWCO
The story that Bartley and Lafferty are the first ones out, is just the tip of the Iceberg, their wage bill IS their biggest outlay and must be dramatically reduced, and I mean dramatically, to even get near a position of day to day solvency, they owe money on the NI and PAYE and cannot allow that to illegaly grow on a monthly basis, it has to be reduced. por cierto
jimtim. Fella you are right not paying your tax is a crime I think we are in the situation that we still dont know the outcome of the big tax case yet and it has only been a few days since the 9 million non payment has come to public notice. I would certainly hope that Sir David Murray and the board are prosecuted if they are found guilty of tax evasion also Murrays kightdhood should be taken off him.Craig Whyte of course as we write is in the South of France and look at his history he has been one step ahead of the posse for a long time.H.H.
allyjambo Taxpayer
I know you don’t post on here, but maybe word will get back to you that a lot of Celtic Fans will like your idea and will spread the word to make it happen.
Good clear thinking, don’t tell Keevins he’ll only call you a liar, but you have already seen through this.
Brogan Rogan Trevino and Hogan supports Kano 1000 says:
15 February, 2012 at 13:46
Good post from the Jambo, I posted one last night from an Inverness fan, not so long but to the point. Having followed Inverness through the divisions on a journey that took years, for rfc to return to the SPL would make his journey worthless.
There could be more support out there than we imagine!!
Hail hail Brogan..
Longest of long shots……Anyone with a spare ticket for Easter Road?
Looking for three (I know, I know) but will take anything.
SwanseaBhoy
Por cierto, all of the redundancies will not happen till after the home game on Saturday as doing it now could lead to lower ticket sales. The main focus of attention at the moment is getting a full house, therefore as much cash as possible into the coffers, then Monday will be Redundancy Day por cierto.
Paul67
How does it feel to finally be a comical genius?
Keep the faith
Mtt
It really is heartening to hear so many, many Rangers fans calling for any action to be – in the best interests of Scottish football.
It humbles me to think that with all this kerfuffle on their plates right now they can find the time to think upon the Hearts supporters and the Dundee United supporters and the Kilmarnock supporters and EVEN us, the Celtic supporters.
The quintessential British team and its support find it in their hearts to consider Scottish Football.
u
PS
I am reading between the lines but I take it they mean that they should be allowed to finacially dope most seasons of domestic football, barring an inevitable downturn or a barely supportable mega-spend by Celtic, to bring them success, and that success should be rammed up each and every other soul’s nose in an arrogant and pompous and crass way BUT if things go remotely Pete Tong or devastatingly Pete Tong, they should be forgiven for it, unpenalised for it and left alone from prying eyes… For the good of Scottish Football?
uu
I rate this week with being up there with my son been born
HAil HAil
BT-Strange decision,a return for Warnock?
SwanseaBhoy loves wee Craigy Whyte and Rangers going into Administration. says:
I’m in the Main Stand on Sunday. Quite looking forward to watching our supporters party from close by. Mrs LB is a Hibee and they can’t wait to celebrate Rangers demise too. Should be an entertaining day. The league is won!
LB
Get it trending twitter folk!!
#NoNewcoInTheSPL
the more I think about it, and I think of nothing else, I can’t see the Huns continuing for more than a few days. The administrators will soon realise they simply can’t continue.
Government Health warning
The following article may have been meed … then again it might not have been meed
see if you can see where it has been meed
Craig Whyte profile: The Scots billionaire on the brink of taking over the club he loves
Nov 18 2010 Keith Jackson
Craig Whyte started playing the stock market at the age of 15. By the time he left school he had more than £20,000 in his bank account.
Today, aged just 39, this financial whizzkid from Motherwell stands on the brink of pulling off the biggest deal of his life – and finally bringing the curtain down on one of the longest-running sagas in Scottish football.
Record Sport understands self-made billionaire Whyte has entered into the final stages of negotiations to buy control of the club he loves from Sir David Murray.
And he’s still one year younger than captain Davie Weir.
A deal worth around £30million is now believed to have reached such an advanced stage that sources say Whyte, a high-roller who splits his time between a home in London and the idyllic Castle Grant in Grantown-on-Spey, could even have the keys to Ibrox in time to fund a major refurbishment of Walter Smith’s top-team squad in January.
The news will delight Rangers supporters who have been fretting over the future of their club ever since Murray first slapped a For Sale sign on the front door of Edmiston Drive around three years ago.
As the club’s financial health deteriorated to such an extent the banks moved in to control the purse strings, a series of false dawns came and went.
First, a consortium headed up by South African-based tycoon Dave King came to the fore only to fail to meet Murray’s asking price.
Then, in March this year, Londonbased property developer Andrew Ellis emerged as the frontrunner and was granted a period of exclusivity in order to get the deal done.
But Ellis, now part of the consortium, did not have the financial clout to back up his bold promises and his bid collapsed, leaving Rangers firmly in the grip of the Lloyds Group.
Exiled Glaswegian King was then talked up once more as the possible saviour but he was also engaged in a long-running battle with the tax man and while those issues remained unresolved, he too looked l ike an increasingly unlikely white knight for a club now engulfed by crisis.
But yesterday, quite out of the blue, Record Sport learned a new man is at the table and that a deal to end Murray’s 22-year reign is ready to be completed.
And that man is a relative boy.
By the age of 26, Whyte was already Scot land’s youngest self-made millionaire. Now, 13 years on, and in charge of a vast business empire, his wealth is off the radar.
Whyte is a venture capitalist who has made his millions from playing the markets – a skill he secret ly began honing in his third year at Glasgow’s Kelvinside Academy. In one of his few interviews he revealed how he immediately regretted going to the private school – because he despised playing rugby.
He said: “I hated the discipline of it. It was a rugby-only school, which I didn’t play as I was interested in football.” Whyte worked weekends for his dad’s plant hire firm. And he saved up his wages to fund his habit of gambling on Stock Exchange.
It is said that, by the time he left school, he had more cash in his bank than many of his teachers.
At 19, he was in charge of his own hire plant.
Now he owns his own castle – one of the most historic buildings in Scotland. And very soon he could be adding Rangers to his portfolio. It remains to be seen if Whyte’s move to capture the club will f lush any other parties out of the woodwork because – despite their failure to strike a deal with Murray – King and his consortium have yet to throw in the towel on their own ambitions.
They had put together a package worth around £18m but this was flatly rejected and Ellis drove the price up when he agreed to pay Murray more than £30m.
The club’s debt has been reduced by around £10m since then but the selling price remains the same.
Now, quite clearly, Whyte believes he will be able to close the deal and the young gun must have said enough to impress Murray, who has stated all along that he will only sell the club to the right people – men with enough money to take the club forward.
Who knows? Murray may even regard Whyte as something of a kindred spirit.
After all, Murray was himself aged just 37 back in 1988 when he launched a takeover of the Ibrox club.
It was the beginning of one of the most successful periods in Rangers’ history but Murray’s aggressive pursuit of European glory eventually saw him writing the kind of cheques that his club could simply not afford.
Now Whyte is bringing his money to the table but it remains to be seen if he will adopt the same scatter-cash approach as the man who has owned the club for the past two decades.
But if he brings in even half of the number of trophies Murray delivered then the fans are unlikely to be complaining.
Just had a text from a ‘Greg Blacke’ asking if I know anywhere in Tomsk that will be showing the Threadbears’ game on Saturday.
obonfanti1888 at 14:05
Just followed you. Will post this to my twitter.
Mort
Sir Paul
Jist in fae the jiggin’..
Eyes doon. look in..
Her is a wee English Lesson… Room 101..fur the Beleagured
G.A. Pilot.
Ah Ah Hope that McCoisty reads this.. fur
it is Directly, well… Directed..at Him. and NAEBUDDY ELSE!
McCoist , in Public…. Allows…
“Sure, it’s a DISAPPOINTMENT.. but…”
when
speaking tae a Benighted Group o’ Confounded and Dumbfounded G.A. Followers..
concerning, the latest Disturbing…. News o’ the Hoor.
“Disappointment”, he Says!!!
Look, Coisty.. Listen up.. and.. LOIN…
A “Disappointment”, is whit Wan suffers, when an Eagerly and Much
Anticipated Upcoming Event..eethur.. DIZNAE, Tak place..or.. Conversely.. DIZ.. tak place.
Like..
An Unexpected Cancellation o’ yer Barber’s Appointment..at the very last minute.
or
Conversely..
When Yer Mother-in-Law, manages,efter awe..
Tae Mak that Christmas Visit tae yer humble abode..,despite, the Over All Atrocious Weather Flying Conditions, which ye wur sure, wid Preclude that.
Noo. THAT’S A DISAPPOINTMENT!!
Howevahhh..
The Event ,to which McCoisty wuz Referring.. wus when his Club, had now entered into Administration.
To describe that Dreaded Eventuality,by him… as Being.. Merely. a “Disappointment”,
and offering it as a Pertinent and Cogent Description of the Present State of Affairs…wiz dreadfully inadequate, to say the least.
Ah wid suggest that a Far Better and Mair Accurate Description of that
Dreaded Eventuality, in which his Club… noo…finds itself.. wid hiv bin..
as Being as That o’ a Catastrophic Nature!
Right?
Damn Right!
Kojo
Still Laughin’
Starry Plough,
I have no doubt a lot of fans of other clubs have similar feelings as us, to any NewCo Huns being parachuted straight into the SPL, but with all due respect to them, its not them Im worried about…..its their Boards that Im worried about.
Hopefully they will be able to see how they have been cheated by the Huns, but will they?
I hope so, but not really holding my breath.
HAIL! HAIL!
Token
On talksport earlier, keys said they would be talking to Keith Jackson, from the daily record who’s kept been telling them about the meltdown at Rangers for weeks, yes WEEKS !
I’ll repeat what I said last night:
Do we have an extradition treay with Monaco? Coz that’s where C.W. is running to.
It’s a tax haven,by the way,and THAT’S where CW has stashed the missing cash. It’s obvious.
The Twat In Chief has a nice wee pied a terre,there…excuse my French.
Why was he not told to remain in the country,and have his passport removed,pending enquiries?
He’s done a runner!
Cheers mort, one of a select few! VERY few lol :D
Silver City Neil Lennon——
I have lived /driven in Sicily for 11 years.
I have been sick with fear on more than 1 occasion .
Many don’t have a license.
Many have a license bought from corrupt officials.
Many don’t have insurance.
Many drive like they think they are the only person on the road.
Many appear to think that there is no need for lights /signals etc..
Many appear to have no understanding re speed / distance / use of mirrors etc .
Crazy Crazy Crazy.
Another fabulous Sicilian specialty is the petrol pump attendant smoking a fag as they fill your tank