Danny 0 Posted August 31, 2011 Share Posted August 31, 2011 Not my words, but that of the BBC. In the story about Leicester's interest in Jelavic, the following paragraph is printed: Rangers, who rubbished suggestions they had also received an higher offer from a Russian club for Jelavic, remain heavily in debt and face a season without the financial rewards from either the Champions League, having earlier been defeated by Malmo, or the Europa League. Either the BBC are outright lying here or they know something I don't. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,892 Posted August 31, 2011 Share Posted August 31, 2011 As it stands, we're still in debt. The debt was only moved from LBG to the Rangers Group (formerly Wavetower) who have, at this stage, only said they will waive the debt at some point in the future. 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted August 31, 2011 Author Share Posted August 31, 2011 If we're still in debt, what was the point of the takeover? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,892 Posted August 31, 2011 Share Posted August 31, 2011 If we're still in debt, what was the point of the takeover? I think this has been discussed a fair amount previously. Whyte obviously feels he can improve the club via a different strategy from the previous regime - including new investment that has, so far, failed to materialise. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 6,078 Posted August 31, 2011 Share Posted August 31, 2011 The debt will be waived if the tax case is settled favourably. 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted August 31, 2011 Share Posted August 31, 2011 Whyte may not be splashing the cash, but at least the bank are not ordering us about. Surely we can get on top of the debt problem without outside interference. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted August 31, 2011 Share Posted August 31, 2011 It's BBCeltic only bad Rangers stories please. 0 Quote Link to post Share on other sites More sharing options...
pete 2,511 Posted August 31, 2011 Share Posted August 31, 2011 The debt will be waived if the tax case is settled favourably. BD If we lose the tax case and went into administration would Whyte be able to offload the 22 million as well as I have the feeling he is not waiving it now? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 4,151 Posted August 31, 2011 Share Posted August 31, 2011 I think this has been discussed a fair amount previously. Whyte obviously feels he can improve the club via a different strategy from the previous regime - including new investment that has, so far, failed to materialise. Very much so. The point with debts is how they are "stored" and whether someone wants them back and if so, what time-requirements have to be met. The bank did, Whyte does not. Essentially, it is much like a bank or your dad gives you a credit/loan/you name it. The bank sure wants it back, either in instalments or with interest by a certain date. Daddy on the other hand may want it back or simply write it off. As for new investment et al ... as far as I see it, it is still there. We did not get the people we wanted or they chose not to come and replacements were hard to come by. After all, we are not the only club intereseted in players. As of new ways of income, the suggested Fox Sports deal might be a way ahead. In the end, we have to wait and see. If those other buyers were true with their interest, Park, Murray or King, they still can come to Whyte and offer their money too. 0 Quote Link to post Share on other sites More sharing options...
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