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Rangers now in administration


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It'll only be a level playing field if you believe Whyte's patter about Rangers coming out of the other side of this mess better off and stronger as a club. Sounds like more bullshit to me unless he's talking about years down the line under the ownership of someone who actually has his own money to invest and conducts his business dealings above board.

 

Sadly there are all too many who believe his every word.

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Sadly there are all too many who believe his every word.

 

If too many would believe yours, many would already have jumped of the next best cliff.

 

And, BTW, there's not just black and white here. People should carefully read between the lines of all news - and preferrably not those on the sports pages, as you wouldn't trust a sport reporter with finance matters, would you? The club's and Whyte's statement on the current cases make it plainly clear what has happened and why he filed the papers. And while people can throw every malicious suspicions they have at Whyte, they should then come up and tell us where the club would have been had we not taken over by him. For the taxman would have come after us nonetheless ...

 

On a sidenote, as I posted earlier above, a FFer suggested that having the Ticketus deal being signed with one of his companies rather than Rangers, he increased Rangers "debt" to him by said amount (nearer to 20m, BTW, not that the press wants to listen) and thus enhanced his position as first creditor. That is the one who pulls the punches should admin happen by, unless I am mistaken.

 

Unless I am mistaken again, HMRC will not become first creditor no matter what, but unsecured creditors.

Edited by der Berliner
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I see we still want some saviour to come riding over the horizon with millions in his pocket to plough into the club willy nilly FFS wake up people. That's the last thing we need it doesn't matter how much money someone has if the club is run all wrong we will find ourselves back here again in a handful of years.

 

We need someone to come in get the club running within its means and on solid ground financially for years to come, the problem is that most of the support don't want to hear this story they don't want to hear we won't win as many trophies as we used to and the standard of player will drop until we can actually grow our own. Euro football will be a plus not the norm we might not even finish second in the league some years.

 

This is the biggest watershed moment in the clubs history and it may take the rest of my days on this earth to recover but recover we will and my children and their children will have a club to be proud of again. I hope we as fans can give the club the time it needs to heal and come back fighting, but going by past experiences of the Rangers fan base I doubt it very much.

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Wee Craig is doing a real hatchet job on HMRC. I don't get how people can see it any other way. This is not going to be pretty, our staff and squad will be trimmed even further and we are going to be dragged through the mud again and again but what is new there?

 

Craig Whyte is the secured creditor. If the figures are correct then he has underwritten £45m of debt (or his companies have) and so he holds 75% of the debt. He can then then cut a deal with himself and take us out of administration. HMRC are not a secured creditor as we are led to believe so this is really a pre-emptive strike to ringfence the debt and assets from them.

 

We have been insulated from the real impact of financial strife for years, it's time to bite the bullet and sort it out. There is a clever wee guy in there doing that at the moment and if he and Rangers come out the other end smelling of roses then I wouldn't begrudge him making some money for his efforts.

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It does look like this was Whyte's plan all along and looking at the potential tax case figures, what's Alistair Johnston's main concern here, that Whyte might make some money out of the deal for himself after steering us through admin and out the other side?

 

Its crazy to see fans on other forums looking for someone to come along and rescue us by putting money in. That ship has sailed a long time ago. Even if HMRC settled for £25M (which there's no chance of), who in their right mind would come up with that kind of money to just piss away for no return?

 

There's loads of other questions being raised by all of this. One of the interesting ones for me is that a lot of the doom-mongers who I was very skeptical of, have been saying for months and months that the tax bill could be 50M and upwards. Did they just get lucky or were they right all along? And if so, who was feeing them that information?

 

SDM and his cronies. Are they sitting in the wings ready to pick up a debt-free Rangers from Whyte post-administration?

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Steady JC, Forlann will be on telling you to get your head out the sand.

 

It's good to have cynics and doubters but I've yet to see one coherent theory from them about how Craig Whyte is going to run off into the sunset with millions of pounds and leave Rangers bankrupt and liquidated. It just doesn't make sense. Rangers is the one business that I think he wants to "turn round" for is own benefit. The two are not mutually exclusive.

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