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Rangers Into Administration

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Jim White is nearly crying on sky sports. :lolrangers:

All the funnier as an hour before he couldn't contain his excitement at the 'tremendous' news of Daniel Cousin's resigning. :lolrangers:

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so what is the scenario that needs to take place for Rangers to no longer exist as a football club? And what is its likelihood?

 

I don't see them surviving if HMRC slap them with that 49 million quid tax bill.

 

People seem to believe a rich businessman will step in from the ranks of the Rangers fanbase.... well, you would have expected said rich fan to have made an appearance before now, but in actual fact all they got was Whyte.

 

Who's going to voluntarily throw 49 million at the Huns?

 

I'd say that would mean actual liquidation.

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Someone text Craig Whyte and tell him to tune into sky channel 888. He could consolidate all his debts into one easy affordable payment with ocean finance!

 

Seen this on Facebook :sheepdance::lolrangers:

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jim white is, allegedly, a celtic fan...

 

 

Aye and the moons made of cheese.

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jim white is, allegedly, a celtic fan...

 

Is that the same as Chick Young apparently being a St Mirren fan

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As regards unsympathetic creditors...Apparently the jutes haven't got their 100k from the televised cup match yet.

 

Go on Jutes, you know u want to...

 

thats superb! Rangers are fecked and thats also screwing United!! Two for One deal!!

 

Feb is really the month for winners!!

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no, im being super serial

 

From wiki which we all know never lies ha ha

 

Jim White is a Scottish sports broadcaster, Glasgow Rangers and Scotland supporter best known for hosting Scotsport on STV from 1989 until 1997/98, and now anchors Sky Sports' Scottish football coverage as well as being a regular presenter on Sky Sports News. He has become known for his over-excitable transfer deadline day reporting and earned the nickname Jim "Deadline Day" White.[1] Between 1979 and 1988, White was a news and sports reporter for the nightly Scottish Television news programme, Scotland Today.

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no, im being super serial

 

From wiki which we all know never lies ha ha

 

Jim White is a Scottish sports broadcaster, Glasgow Rangers and Scotland supporter best known for hosting Scotsport on STV from 1989 until 1997/98, and now anchors Sky Sports' Scottish football coverage as well as being a regular presenter on Sky Sports News. He has become known for his over-excitable transfer deadline day reporting and earned the nickname Jim "Deadline Day" White.[1] Between 1979 and 1988, White was a news and sports reporter for the nightly Scottish Television news programme, Scotland Today.

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Would it be possible for rangers to do pre administration what afc did in splitting the company in two with stadium ownership being transferred to separate company e.g. Talltray and therefore safeguarding ibrox from being taken from them and sold?

Led to believe rangers is already split in 3!

 

Can't help but feel this will be a load of shit and they will be better of because of it! They will take the 10 point Penalty and finish 2nd (which they were going 2 anyway) and start a fresh with no debt like Motherwell did and still in the top division in Scotland!

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Led to believe rangers is already split in 3!

 

Can't help but feel this will be a load of shit and they will be better of because of it! They will take the 10 point Penalty and finish 2nd (which they were going 2 anyway) and start a fresh with no debt like Motherwell did and still in the top division in Scotland!

 

If they were still in administration at the start of next season would they start the season with a point deduction too?

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Would it be possible for rangers to do pre administration what afc did in splitting the company in two with stadium ownership being transferred to separate company e.g. Talltray and therefore safeguarding ibrox from being taken from them and sold?

 

from what I've just read K-9 if they do that then its in a move by Whyte to then get his cash back.

 

Looks to me like he's went in, sold a load of shite in advance, pocketed the cash, prepared them for the asset strip, prepared for administration and will now, if HMRC go for their 49m, sell them in bits.

 

:laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing:

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http://www.rangers.co.uk/news/football-news/article/2609694

 

 

The Rangers Football Club plc has today announced it has filed a notice of intention to the Court of Session in Edinburgh to appoint administrators.

 

 

The Club will conduct its business as usual and will not be in administration until it decides whether to formally proceed with an application to appoint administrators.

 

 

Until such time, the Club will not face any sanction from the football authorities in terms of points deduction within the Scottish Premier League.

 

 

Sanctions such as a 10-point deduction will only apply if the Club proceeds with the appointment of administrators. It is expected to be 10 working days before a decision is made whether to appoint administrators.

 

 

Suppliers to Rangers Football Club and the Club's business partners and sponsors are currently being informed of today's announcement and arrangements between the Club, suppliers and creditors will continue as normal.

 

 

There will be no impact on season ticket holders and shareholders. Season tickets will continue to be valid for this season and any commitment to a season ticket for next season is secure.

 

 

The Club is continuing to have dialogue with HMRC in the hope that a formal insolvency procedure can be averted and has put forward pragmatic proposals.

 

 

The Club's owners believe there is no 'realistic or practical' alternative to this course of action in order to secure the long-term future of the Club.

 

 

Should administration take effect, the Club is proposing a Company Voluntary Arrangement (CVA). The Club wishes to seek the protection of a moratorium from HMRC action whilst a CVA proposal is made to creditors. The Club has put forward a CVA proposal to HMRC in which creditors would be paid and provision made for the legacy HMRC case, commonly known as the 'big tax' case.

 

 

This, if approved by creditors within a month, would minimise any points deduction and enable the club to participate in European football next season.

 

 

The Club has engaged Duff and Phelps, a specialist restructuring practice to assist in finding a solution to the present position.

 

 

Should the Club proceed into administration, the appointed administrators will in all likelihood implement a cost-cutting programme and staffing levels will be reviewed across all departments of the Club's business.

 

 

Rangers chairman Craig Whyte said there is no 'realistic or practical' alternative to this course of action due to a combination of the Club's ongoing financial situation and the impending result of the HMRC first tier tax tribunal. The tribunal relates to a claim by HMRC for unpaid taxes over a period of several years dating back to 2001, which, if decided in favour of HMRC, could result in liabilities and penalties substantially more than the

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