Author Topic: Rangers  (Read 106759 times)

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dangerman

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Rangers
« on: February 13, 2012, 04:03:24 PM »
http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/

Rangers have filed court papers signalling their intention to go into administration.

STV can exclusively reveal the Ibrox club lodged the notice at the Court of Session in Edinburgh at lunchtime on Monday.

It is understood the papers are the first step in any formal administration process. They now have ten days in which to declare administrators have taken over the running of the Glasgow-based club.
 
STV understands owner Craig Whyte, director of operations Ali Russell and board member Andrew Ellis had a meeting with manager Ally McCoist on Monday to inform him of the news.

HM Revenue and Customs guidelines state: "The appointment of the administrator will take effect within ten business days of the date the notice of intention is filed."

This period allows the company to speak to creditors to see if they reach an agreement. If they enter administration the Scottish Premier League champions will automatically be docked ten points.

Rangers FC are currently awaiting the result of a £49m tax case with HM Revenue and Customs in relation to the club's use of an Employee Benefits Trust to pay players and staff. It is thought the decision to lodge court papers means the result of this tax case is likely to be known imminently.

The First Tier Tax Tribunal confirmed the decision in the case against Rangers has not been published, although it could not confirm whether or not the club had learnt of it ahead of it being released publicly.

The Court of Session confirmed to STV that papers signalling the intention to appoint administrators had been received from the club's solicitors acting on behalf of their directors.

Rangers are expected to make a statement to London-based Plus Stock Exchange about their intention to go into administration on Monday.

The club was suspended from trading shares on the stock exchange after failing to file audited accounts on time earlier this year.

Last week former chairman called for the Insolvency Service to investigate the financial arrangements at the club following Mr Whyte's takeover last May.

Mr Whyte confirmed recently that he had used four years future season ticket sales to secure a £20m loan from London-company Ticketus.

WBASPE77

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Re: Rangers
« Reply #1 on: February 13, 2012, 04:38:20 PM »
Could effect there title challenge a lot, shame as I prefer them to Celtic.
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Re: Rangers
« Reply #2 on: February 13, 2012, 05:26:58 PM »
May be a lesson to clubs in England that living outside of their means will leave them exposed to this sort of thing eventually. More than enough clubs who could be in this situation in the next few years. The relegation battle alone contains clubs like Wigan, Blackburn and Bolton who all are over 50 million in debt and QPR will be in a year or two.
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Re: Rangers
« Reply #3 on: February 13, 2012, 05:33:52 PM »
Terrible news.

May as well put the Celtic name on the title.
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WBASPE77

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Re: Rangers
« Reply #4 on: February 13, 2012, 05:39:54 PM »
They have sold top strikers in previous seasons and have won the title, Boyd, Miller. I hope they get there problems sorted out and come back stronger.
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Re: Rangers
« Reply #5 on: February 13, 2012, 05:47:24 PM »
I see also Portsmouth are likely to go into administration within the next few day.
Sorry times for the paying supporters.

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Re: Rangers
« Reply #6 on: February 13, 2012, 06:08:29 PM »
Even if Celtic went into adminstration too and both were docked 10 points, they'd still finish as the top 2 teams. Such are the stagnant waters of Scottish football. You could say it's always been that way, but non-Old Firm have won the title down the years. Now, there's absolutely no way any other club could win the title. Little wonder that attendances in Scotland are so poor - fans of the other clubs know that they're also rans before the season even starts.

Like all clubs which dominate their leagues year-in, year-out, I wish nothing but misfortune on Rangers and Celtic.

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Re: Rangers
« Reply #7 on: February 13, 2012, 06:54:40 PM »
I would like an Motherwell or a Hibs to break this dominance as it would make the SPL a lot more intresting, and crowds of those clubs would go up.
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Mulumbu99

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Re: Rangers
« Reply #8 on: February 13, 2012, 10:47:10 PM »
couldn't happen to a nicer club. tick tock. mon the hoops.

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Re: Rangers
« Reply #9 on: February 13, 2012, 11:07:31 PM »
couldn't happen to a nicer club. tick tock. mon the hoops.

wrong forum, you want to start the old firm stuff do it elsewhere.
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Re: Rangers
« Reply #10 on: February 13, 2012, 11:14:00 PM »
Really horrible to see, i desperately hope they sort it out. Portsmouth too

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Re: Rangers
« Reply #11 on: February 13, 2012, 11:14:39 PM »
Like all clubs which dominate their leagues year-in, year-out, I wish nothing but misfortune on Rangers and Celtic.

Same, with a bonus helping for tolerating the sectarian element of their fans.

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Re: Rangers
« Reply #12 on: February 14, 2012, 12:56:13 AM »
Another nail in the coffin of a joke of a league. Scottish football needs change.

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Re: Rangers
« Reply #13 on: February 14, 2012, 01:05:45 PM »
Rangers will still be one of the two biggest clubs, even if through some unliklihood they went bankrupt and had to re-form. The SPL would let them back in straight away, and nothing would have changed.

Scotland's football is on its last legs, as smaller clubs lose fans, TV and sponsorship money due to lack of success. They get less prize money for finishing in the lower positions, so are unable to strengthen. Its hard to see it picking up even if Celtic and Rangers left for England / Europe. It'll end up as the League of Wales, except with Cardiff and Swansea in it.

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Re: Rangers
« Reply #14 on: February 14, 2012, 02:16:32 PM »
Really horrible to see, i desperately hope they sort it out. Portsmouth too
Terrible news.

May as well put the Celtic name on the title.
why is it horrible to see, and terrible news? we are talking about a football club that hasnt been run correctly and i couldnt care less what predicament they or any other club are in as long as its not the albion. but that wont happen because we are run properley.

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Re: Rangers
« Reply #15 on: February 14, 2012, 03:30:09 PM »
why is it horrible to see, and terrible news? we are talking about a football club that hasnt been run correctly and i couldnt care less what predicament they or any other club are in as long as its not the albion. but that wont happen because we are run properley.

I know its the fault of the previous board who have drummed up all the debt, and it's never nice to see a club go into administration. Unfortunately, the two clubs which have both dropped in are both clubs I follow. I follow Portsmouth to keep up to tabs on the progress Appleton is making, and I generally follow Rangers due to my hatred towards Celtic. Won't explain any more in depth as it will no doubt break forum rules.

As you say, the Albion comes first and I'm glad we're not in the position of Portsmouth and Rangers
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It's official now. Rangers enter administration.
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WBASPE77

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Re: Rangers
« Reply #16 on: February 14, 2012, 04:04:58 PM »
Dont like to see any club in this much of a mess, I hope they come back better and stronger.
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Re: Rangers
« Reply #17 on: February 14, 2012, 05:22:05 PM »
If Rangers really start falling by the wayside, could actually see this impacting negatively on Celtic as they lose any semblance of a rivalry and big games in domestic competition. Could make them even less attractive and possibly reduce interest/sponsors.

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Re: Rangers
« Reply #18 on: February 14, 2012, 05:34:04 PM »
Does anyone know what sort of debts Celtic have (if any)?

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Re: Rangers
« Reply #19 on: February 14, 2012, 07:14:18 PM »
7 million garry. Despite dwindling profits they are still reducing their debt year on year.

Scottish football needs change so actually shaking it up with Rangers folding would at least force some change. They would struggle to put them right back in SPL although they would try, but they may have to start again at the bottom division, allowing a Motherwell, Hibs or Aberdeen to get the champions league money for a couple of years.

Would kill the SPL as a commercial entity though and it may force through the push for an Atlantic league.
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Re: Rangers
« Reply #20 on: February 14, 2012, 07:31:19 PM »
Always had a soft spot for Rangers but they have no one to blame but themselves for running the club so poorly to get in this position in the first place.

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Re: Rangers
« Reply #21 on: February 15, 2012, 01:05:41 AM »
I looked on the Celtic forum last night and a decent amount of them hoped that Rangers going into administration would pave a way for them to join the English league (now the Old Firm issues involving Rangers might be gone), though they were pretty realistic in that it probably wouldn't.

Sure it's only a forum, but I was surprised by the amount of fans who wish to join the English divisions, even if it meant starting at a lower tier.
« Last Edit: February 15, 2012, 01:11:34 AM by Rich99 »

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Re: Rangers
« Reply #22 on: February 15, 2012, 01:09:15 AM »
Personally I wouldn't want them in the English league, not our fault their league is primarily madeup of only two teams and the rest to make the numbers up. If they want to go elsewhere then join the League of Ireland or one of the Scandinavian leagues.

Amazes me how Rangers or any club can get away with avoiding paying tax for so long, HMRC to busy chasing the easy targets by the looks of it.
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Re: Rangers
« Reply #23 on: February 15, 2012, 12:55:19 PM »
The FA has a rule where football creditors get paid before anybody else. HMRC did not agree to this, and has finally had enough of playing along. I hope they hammer a few more clubs.

If they want to join the English league, make them start in the very lowest non-league - where AFC Wimbledon, Chester, and FC United had to start.

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Re: Rangers
« Reply #24 on: February 15, 2012, 01:27:39 PM »
Personally I wouldn't want them in the English league, not our fault their league is primarily madeup of only two teams and the rest to make the numbers up. If they want to go elsewhere then join the League of Ireland or one of the Scandinavian leagues.


Totally agree. They didn't want to know the English until the Prem money came about. Let them stew in their own juice, it was all of their own making.