der Berliner 3,815 Posted February 21, 2012 Share Posted February 21, 2012 While it does indeed look grim, we should remind ourselves that this is paper talk. The facts will be delivered by the administrators. On a sidenote, I would expect that Whyte has some more money, since he knew what the running costs would be and that simply buying Rangers from Lloyds & Murray for 18m wasn't going to be enough. While he might have hoped for a 12m CL windfall, that money too would not have lasted too long. What makes you wonder is that while all hare after him for doing this or that cloak-and-dagger style, he nigh always came and come out and told us what he has done and where some of the money ended up, e.g. from the Ticketus deal. Sure he gave not all facts and figures, but you'd have to be some really grand guts to go out to the fans and tell them about it. Would anyone be so stupid and think that he EVER gets away from media and support if this comes to the open? 0 Quote Link to post Share on other sites More sharing options...
gisabeer 409 Posted February 21, 2012 Share Posted February 21, 2012 What security did Whyte give Ticketus is another worry. not really. whyte never owned rangers when he struck the deal with ticketus so he couldnt have used the clubs assets as security. ticketus will be in the shit as well. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted February 21, 2012 Share Posted February 21, 2012 not really. whyte never owned rangers when he struck the deal with ticketus so he couldnt have used the clubs assets as security. ticketus will be in the shit as well. The deal was completed when CW bought Rangers. If he had failed the money would have gone back to Ticketus. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,679 Posted February 21, 2012 Share Posted February 21, 2012 While it does indeed look grim, we should remind ourselves that this is paper talk. The facts will be delivered by the administrators. And even then some will refuse to accept that Whyte has done anythibng wrong. , he nigh always came and come out and told us what he has done and where some of the money ended up, e.g. from the Ticketus deal. He told us that the Ticketus cash went into the club when it didn't. 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted February 21, 2012 Author Share Posted February 21, 2012 Initial thoughts - if this is all correct - are that it's time for a major bit of revisionism. RFC did not - contrary to popular media opinion - go into administration because of the big tax debt and years of financial mismanagement. It went into administration because CW was allowed to take the Club over and ran it into the ground either due to mismanagement or on purpose. That last point is neither here nor there if the Takeover was made possible by unlawful financial assistance.I note that media haven't picked up on the possible repercussions of the Mail article. The BBC are still concentrating on if the Scottish game needs a strong Rangers. So who is worried this morning? Craig Whyte - I really think the game's up for this guy and hope he gets everything he deserves. I wonder - from other press reports - if he is not also guilty of embezzlement and fraud. Ticketus - I think they will be very worried if they did provide funding prior to the takeover. They would then be knowingly complicit in providing financial assistance. Collyer Bristow - they'll try to dodge this one but I'm sure they knew what was going on. They'll be very worried. David Murray - yet to pan out but what if he was complicit in the Ticketus deal? I seriously hope that in the "all bets are off scenario, he doesn't get the Club back. I'm sure he knew what was going on - but he' man who knows the power of smoke and mirrors. LBG - they may have also known but I'm pretty sure they would have covered their back. SFA - gross negligence in my book, and heads should roll. The matter of compensation should also be addressed. What chances of resignations? SPL - did they have and duties here? That's the first thoughts. If we had the cajones, this should keep some QCs going for some time and it may be that RFC will come out of this much better than appeared a week ago. It won't be easy, and this is all very messy. We really need class leadership - and pronto. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,815 Posted February 21, 2012 Share Posted February 21, 2012 He told us that the Ticketus cash went into the club when it didn't. Not true, I'm afraid. He told the RST ... There was then some discussion about the financial transactions around the borrowings from Ticketus against season ticket revenue. The Chairman confirmed the borrowing was over a three-year period and was secured against one of his companies and not Rangers Football Club. He stated that all monies were lodged and transacted through the Club’s bank accounts – that included the £18m from him to clear the previous Bank debt, the Ticketus borrowings and the working capital available as part of the Takeover Agreement. In response to questions about the level of borrowing from Ticketus, the Chairman explained that it would be extremely difficult to borrow from any Bank at present and it was necessary to meet the running costs of around £3.5m per month. Whether that is a straight faced lie is for the administrators to reveal, not the sports media hacks. 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted February 21, 2012 Share Posted February 21, 2012 I supported the Whyte takeover, but even i now know the game is up, we have been stitched up by D Murray, Lloyds and Whyte. I so wanted to believe what we were being told and i suppose that's how the tricksters MO works, tell the gullible what they want to hear and tell them everything will work out for the best. Not for the first time we have put our faith in our leader at Ibrox only to be let down? Fool me once, shame on you, fool me twice, shame on me. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,679 Posted February 21, 2012 Share Posted February 21, 2012 Not true, I'm afraid. He told the RST ... What a strange (and inaccurate) comment. Whether that is a straight faced lie is for the administrators to reveal, not the sports media hacks. They have done. The administrators confirmed that the Ticketus cash was not received by the club. I don't get where you're coming from. Are you denying that he said that the Ticketus money was received by the club or are you denying that the administrators said that the cash wasn't received by the club? 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted February 21, 2012 Share Posted February 21, 2012 And even then some will refuse to accept that Whyte has done anythibng wrong. I have respected you as a very knowledgeable poster but this is one of the poorest things you have written and really brings you down in my estimation. You know next to nothing about everything that has gone on and yet because you have jumped to your own conclusions, you start to get sanctimonious on others who don't 100% follow the same speed to judge. I doubt there is one person on here that thinks that Whyte has done nothing wrong, not one - and to me that shows you are highly flawed at drawing conclusions in the first place. None of us know the truth of what has happened as yet and there are many who are willing to wait for the facts before making a judgement. Sometimes it's seems obvious when someone has committed a wrong, but when it's too obvious and shows little regard for getting away with it you have to question what the motives are and whether there is something more to it. There is nothing wrong with showing some restraint from judging until all the facts are presented and in fact it's what being the judge and jury is all about... 0 Quote Link to post Share on other sites More sharing options...
BlueMazza 0 Posted February 21, 2012 Share Posted February 21, 2012 When we say 'wrong' are we talking legally and/or morally? Because that might be what it comes down to. 0 Quote Link to post Share on other sites More sharing options...
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