|
|
Post by gerrard on Feb 13, 2012 18:26:38 GMT
Glasgow Rangers To Go Into Administration Rangers are to go into administration after lodging the notice in Edinburgh at Monday lunchtime.
They owe the taxman £49million
A Scottish Premier League spokesman confirmed a 10-point deduction and a transfer embargo would only be put in place when administration was confirmed.
The spokesman said: "At this point in time Rangers are not in administration and we await developments.
"The instant that they are technically in administration there will be an automatic 10-point deduction and, perhaps of less relevance, an embargo on player registrations.
"If administration is confirmed, as we have done previously, we would be looking to work with the administrators and would be looking for a very early meeting."
what will this do to Scottish Football?  *piccy sky sports |
|
|
|
Post by gonzales on Feb 13, 2012 18:48:01 GMT
|
|
|
|
Post by gerrard on Feb 13, 2012 19:18:10 GMT
a lot of clubs could go the way of rangers, they have for 20 years been too greedy and the players have been ridiculously so, i fear for all football tbh  |
|
|
|
Post by gerrard on Feb 14, 2012 16:13:16 GMT
well its been confirmed   Rangers will be hit with a points deduction which as good as hands the SPL title to Celtic
Rangers have appointed administrators Duff and Phelps after meeting a deadline set at the Court of Session in Edinburgh.
The defending SPL champions had been set a time of 3.30pm on Tuesday by when they had to name an administrator under their own petition.
They met that cut-off point and therefore disappointed the HM Revenue and Customs (HMRC), which had itself lodged a petition against Rangers' notice of administration.
On Monday, Rangers themselves first gave notice to go into administration over a tax bill which could reach £75million, but, 24 hours later, HMRC countered with a notice of its own.
In courtroom developments on Tuesday, Rangers announced they would be prepared to immediately go into administration - and suffer a 10-point penalty from the SPL which as good as hands the title to Celtic - if they were allowed to choose their own administrator.
The court accepted and the Ibrox club will now, in theory, have greater control of the insolvency process.
The wrangle comes on the same day as Rangers owner Craig Whyte met with the club's players at their Murray Park training ground.
Discussions were held regarding Rangers' current financial plight and obvious fears over the long-term future have been raised.
But Whyte had on Monday insisted administration is the first step in the club's recovery, as he told Sky Sports News: "This was the best way to take the club forward and end the uncertainty that's surrounding Rangers at the moment.
"What we've done today is the start of a road to recovery. Rangers will always be around, Rangers will always be here at Ibrox and this is the start of the healing process.
"We will get over this and we will come out fighting and come out stronger, there's no question about that."*sky sports
|
|
|
|
Post by gerrard on Feb 14, 2012 16:21:08 GMT
Ex-Bhoy Charlie Nicholas interview sky sports
"I am not surprised by it," Nicholas told Sky Sports News HD. "I am no Rangers fan but for the sake of Scottish football this is depressing.
"Rangers have this dark cloud hanging over them with potentially £50million in tax being owed.
"Even if they were deducted 25 points they would still be fourth in the Scottish Premier League. It's not so much about the short-term but the long term.
"The fans will probably be suspicious for buying season tickets next season. Can they afford to bring in players? If this club has to go under then where will Scottish football be?
"There is nothing better than when you can focus on proper football with a proper derby, the Rangers v Celtic games, which get promoted all over the world for the right and the wrong reasons and that potentially is now under scrutiny.
"Ultimately how big a mess are Rangers in? Is it just about the tax bill or are there other things?
"I think Craig White (the owner) said last week they are losing £10m a year. So if they are losing that without this tax bill, I think somebody at Rangers has to come back and be honest with the Rangers fans once and for all."
|
|
|
|
Post by gerrard on Feb 14, 2012 16:27:34 GMT
Police seek Gers assurances Strathclyde Police are seeking a meeting with Rangers' administrators to guarantee the policing costs for games at Ibrox will be met.Financial uncertainty surrounds the Scottish Premier League giants after Duff & Phelps were appointed as the club's administrators on Tuesday.
Rangers are due to face Kilmarnock at Ibrox on Saturday, however, Strathclyde Police say they will be unable to commit public resources to cover the event unless their costs are covered.
"Strathclyde Police is a public body and has a duty to make sure public resources are used appropriately," read a police statement.
"We are seeking an urgent meeting with the administrators to ensure that any payment for policing costs at future Rangers games is guaranteed.
"Until we have such a guarantee we would not be in a position to commit public resources to policing an event unless we had a reassurance that our costs would be met."*sky sports |
|
|
|
Post by craig johnson on Feb 14, 2012 19:55:50 GMT
not good news for Scottish football - the league was boring with only 2 teams going for the title  without rangers it could end up a part time semi-pro league. remember, this club spent fortunes on Gazza, Laudrupp,and Gattuso and they now have to pay the price for poor financial decisions  |
|
|
|
Post by gonzales on Feb 15, 2012 18:18:17 GMT
Too right, it was all fun and games when Murray said - every fiver Celtic spend we'll spend a tenner, no sympathy with them tbh  |
|
|
|
Post by gerrard on Mar 3, 2012 19:00:47 GMT
no decision made yet on redundancies at Rangers apparently the administrators are in talks with the PFA about it ... we await further news |
|
|
|
Post by gerrard on Mar 6, 2012 22:28:12 GMT
Sky Sports are reporting that administrators are close to agreeing a pay deal with Rangers players that would see staggered wage cuts - its all still very dicey for the Gers |
|
|
|
Post by gerrard on Mar 7, 2012 15:35:12 GMT
Rangers director Dave King fears the club are as good as certain to go under after being placed in administration.
In a 1200-word statement, 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."
He said: "It grieves me to state that it seems inevitable that the footballing institution will survive but the company won't.
"This will entail many hurdles (that will be overcome) including 'Rangers (2012) Ltd' having to reapply for membership of the SFA (Scottish Football Association) etc.
"It is a sad point to have reached, but if managed sensibly, it can result in Rangers returning to its former glory as a football club in the shortest time possible.
"We must all strive to ensure that an appropriate ownership structure guarantees that this event is never repeated.
"We must remember that our footballing friends across the city came very close to the point that we now find ourselves in.
"Scottish football needs a strong Rangers and Celtic - but perhaps in a slightly humbler form."
King announced his intention to take legal action against Murray.
King added: "I seem to be one of the few people who actually invested cash into the club. I have made a claim of £20million on the basis of non-disclosure by the then chairman, David Murray, of Rangers' true financial position as far back as 2000.
"Other shareholders may feel deceived like I do and wish to take similar action. (David Murray will no doubt argue to the contrary and the merits of this will be dealt with in due course in the appropriate forum.)"the fans will be dismayed at ongoing events *thanks to Sky Sports for the above quotes |
|
|
|
Post by elroja on Mar 7, 2012 15:55:59 GMT
Dios it doesnt look good for that club does it? |
|
|
|
Post by craig johnson on Mar 8, 2012 23:29:59 GMT
it does not look good for them - massive cuts or liquidation - is this the end of rangers??? |
|
|
|
Post by gerrard on Mar 9, 2012 18:36:20 GMT
could a club that size go to the wall, its scary to think of it |
|
|
|
Post by gerrard on Jun 12, 2012 18:06:44 GMT
RANGERS TO BE LIQUIDATED Gers facing liquidation after HMRC say they will vote against CVA Charles Green: Left bitterly disappointing with HMRC decisionnew Rangers owner in waiting Charles Green was left 'massively disappointed' after being told that HMRC would not back his Company Voluntary Arrangement (CVA).
"It's bitterly disappointing, particularly when throughout the process we've been led to believe they've (HMRC) been considering it and then I read today, as I'm sure everyone else has, from the administrator that it's a policy decision," Green told Sky Sports News.
"Is this a policy decision that came out as a point of policy this week, or if it was a policy decision throughout, why couldn't they have told us that in February or March? I think it's really, really bad.
Green is expected to push ahead with plans to buy the club's assets for £5.5million in the coming days, although there is no guarantee the new entity will be able to play in the Scottish Premier League with other clubs expected to vote on a 'newco'.
He added: "The reality is, other clubs have gone down newco routes and gone back into the SPL. We've seen that, so obviously there is a precedent out there of newco being accepted back in the SPL. It will be down to the members of the SPL post Thursday."
the club's administrator Paul Clark admitted Rangers would have to now turn to their fall-back plan, which is the sale of the business and assets.
"We'd never been confirmed that they (HMRC) would definitely vote in favour and nor did they say they would definitely vote against, so it's a disappointment rather than a surprise," Clark said.
"We knew there was a possibility they might vote against. We obviously would not have put the proposal forward if we didn't think it stood a reasonable chance of success.
"We're told that on the basis that the financial return that they would have got, they would have rejected it on whoever it was, so it's not a case of personality.
"It's more about the financial return they're receiving on the deal that was on offer and I would remind you, that was the very best deal that we had.
"I don't think anything more could have been done."Thanks to Sky Sports for this report/pic |
|
