capstans

I do not believe for one minute HMRC have said they will not deal with Whyte, the day the revenue dictate who can run or be involved in a legitimate business is the day we really do live in a police state.

M GMT 08 Mar 2012 4 Comments If they do not agree to the structured pay cuts put to them on Tuesday – which were originally accepted unanimously – Ally McCoist’s squad will be slashed in an attempt to avoid a meltdown which would see Rangers go under before the end of the season and unable to fulfil fixtures. If there is no consensus on Friday the manager will be left with a skeleton side as the administrators accelerate their attempts to sell the club as a going concern while there is still time. Telegraph Sport understands that if the structured deal offered to the players – 75 per cent off the top earners’ pay, a 50 pet cent reduction for the middle rankers and 25 per cent cut from the least well paid – is not accepted, then there is a significant chance that the club will be extinguished in the form that has existed since 1872. The Scottish Premier League is monitoring the situation in considerable anxiety. Rangers will not play in Europe next season – that certainty was finally confirmed officially by the administrators yesterday – but if they should fall by the wayside after the SPL splits into top and bottom sixes after April 7 the possibilities for chaos are substantial. Related Articles Only quick sale can save 'perilous' Rangers 07 Mar 2012 Paul Murray plays down liquidation fears 07 Mar 2012 In full: Dave King statement 07 Mar 2012 Senior Rangers players 'hold up' deal 06 Mar 2012 Rangers redundancies begin 06 Mar 2012 SPL investigates Rangers payments 05 Mar 2012 Meanwhile, Telegraph Sport can reveal that HMRC has held meetings with both the Rangers administrators and the SPL to stress that the tax authorities would prefer not to see the club fail. I understand that they are willing to have Rangers continue as an existing business – even if the club lose the tax case in respect of Employee Benefit Trusts – but only if Craig Whyte is out of the picture. I can also reveal that although an adverse decision by the tribunal that is considering the EBT case could saddle Rangers with a bill of £24 million in back tax, £12 million in interest and as much as £14 million in penalties, HMRC will not stand in the way of a Company Voluntary Agreement – through which creditors emerge with a percentage of the cash owed to them – and that this has been sanctioned at Treasury level. However, that will only be possible if there is what has been described within HMRC as ‘regime change’. In other words, Whyte must have no connection with Rangers at the end of the process. In an interview with Rangers TV, the joint administrator, David Whitehouse, said: “Ultimately the aim is to find new, strong owners to take the club forward with a financial base so we are now looking at other strategies. “In the next 48 hours or so we are approaching and meeting with those parties who have already expressed an interest in acquiring the club to understand their timetable and to try to accelerate what would be a normal timetable for this sort of transaction. “We have a meeting this evening and we have a series of meetings tomorrow and we will have to conclude our strategy in that regard during the course of Friday. "In light of the outcome of those discussions we can then form a view as to whether we can continue to operate the club within its existing cost base. “If we do form that view, that would have to be over a very short period of time because the company is burning cash at a significant rate. "Alternatively, if we can’t envisage completing a transaction within that time frame then we will have to either secure cost cuts with the consent of the players or make some quite serious and deep redundancies. “That is something we will try to avoid because value in those redundancies will centre around the playing staff and that affects the underlying value of the business. "So it’s a case of striking the balance of keeping the resource on the playing side which keeps the club active and competitive and attractive to a purchaser against what’s needed off the field which is a sustainable and viable business. “The playing squad is at the heart of what any potential purchaser is looking to acquire so therefore it is critical that we have an infrastructure that is sustainable on the pitch. "We met with the players today and they know the constraints within which we are working. “They are working together to see if they readdress some of the barriers that were put in place yesterday to achieve the cost-cuts which would have enabled us to complete the season’s fixtures and enable us to complete a sale or more orderly transition for the business.” The administrators still have not made contact with Gary Withey – Rangers’ company secretary and a former partner in the London law practice of Collyer Bristow – who was last seen in the firm’s offices on Feb 24 and who may have left the country

Like holding The Rangers to ransom in our darkest hour.

Since when did they do what, you mean they dont work for the player ? cant players think for themselves ste they just imbecilic cash cows for the cancer that is agents.

Here is me thinking agents worked for the players.

The squad may be united to their own ends, administrators appear to have bent over backwards to secute a no redundancy deal, appears the players could not react in kind, shamefull at best.

Absolute mayhem and confusion and still no leadership from anywhere.

I can't quite believe the apparent lack of will or of any serious realisation as to what is happening to our club, it's a bit like rearranging the deck chairs.

Midden is a well used Scottish colloquilism sorry if it offends your tender sensibilities, seems you are happy to get trampled under this bear isn't.

That's what I am saying if you think it is dignified to get slaughtered at every turn with nary a wimper you carry on. All that wholesome home spun dignity has landed us as the whipping boys, I prefer my dignity administered with a rod of iron and no little venom.

My allegiance is to The Rangers nothing else, turned over by hearts on our midden, still no sign of leadership on or off the park, pointless remarks about fly wee kicks FFS name names fight back call the ref a disgrace. It's open season on the club no one is defending us, Bill Struth will br birlin at this capitulation.

Lions led by donkrys would describe our support. The lack of leadership and direction is shameful, to many fans groups more interested with their own agendas and point scoring.

This is what happens when you take your boot off of the taigs necks, why don't they go home.

Whyte may be a lot of things sharp as a tack being one them he must be one special sott of crook to be walking the streets, maybe because he is no crook being just one step ahead in his particular field of all the other would be players.

Ticketus have realised that Whyte has legally and regally shafted them, that is their look-out, they should be nowhere near any consortium they will be looking to recoup before anything else

The rhebel is the pits.

As i understand it the administrators can make ANY decision they feel is in the best interests of club and creditors, any creditor disagreeing couls of course object unless bound by a CVA.

I would doubt anything will be known until the tribunal decision which seems wise, the day the administrators run things to suit the likes of king and radio cattolica is the day we can throw the towel in. Kings thinly veiled innuendo against court approved administrators is what I have come to expect from him, someone will be along to tell me what a good bear he is, I for one don't believe that for a moment. Doom mongers appear to be the flavour why not just let the administrators do their job as they see fit, time enough then to slit your wrists or better still celebrate, I think it will be the latter.

Is it possible that the adminiatrators are keeping the club as operational as possible for someone.

I read Scotsman I think some quotes from one of the big accountancy firms, that what was in the public domain at the moment was far from illegal on Whytes part.

The rhebel says it all, comic.

So with all these ongoings he has neither been charged let alone arrested ?

Has Whyte been arrested or charged with anything.

Did the administrator confirm who sold the tickets and if the club are liable for any monies or are contractually bound to supply tickets to Ticketus by law, or is it by some third party that we can not be held to account for.

If Betts had done as FS thinks he would have committed an offence, someone has put tohethrr a rather clever scheme here but ticketus may disagree.