capstans 0 Posted March 7, 2012 Share Posted March 7, 2012 Like holding The Rangers to ransom in our darkest hour. 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted March 7, 2012 Share Posted March 7, 2012 It just seems to me some high earners aren't willing to make the sacrifice. And guess what, there we were saying what an amazing sacrifice, what incredible people! True blues! No, they're just normal men ruled by money, as most of us are, and the idea of losing 75% of their wage is too much to bear. Truth is a lot of our players will be thinking about themselves, not the club. 0 Quote Link to post Share on other sites More sharing options...
capstans 0 Posted March 8, 2012 Share Posted March 8, 2012 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 0 Quote Link to post Share on other sites More sharing options...
johnnyk 158 Posted March 8, 2012 Share Posted March 8, 2012 Surely Whyte must walk away from this before his life really is in danger and the likes of HMRC are willing to help without him in the picture? I also don't know how this man can sleep at night given what he as actually done to Rangers :fuming: 0 Quote Link to post Share on other sites More sharing options...
capstans 0 Posted March 8, 2012 Share Posted March 8, 2012 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. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,815 Posted March 8, 2012 Share Posted March 8, 2012 Surely Whyte must walk away from this before his life really is in danger and the likes of HMRC are willing to help without him in the picture? I also don't know how this man can sleep at night given what he as actually done to Rangers :fuming: Still assume that Whyte was doing this all on purpose, i.e. ridding us of the Lloyds debt, clear the HMRC case (at least to a level sustainable) and then make way for someone else. He was a non-entity beforehand and will remain one afterwards. His only job now is to stand aside and be done with it. Do I like that notion of him conning all? Surely not. But it is the only one that makes some (!) sense. 0 Quote Link to post Share on other sites More sharing options...
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