ian1964 10,626 Posted March 9, 2012 Share Posted March 9, 2012 -------------------------------------------------------------------------------- EXCLUSIVE By ANDY DEVLIN and KENNY McALPINE Published: 17 minutes ago RANGERS were thrown a dramatic lifeline last night as it was revealed the taxman WILL do a deal with the stricken giants. But the crisis-hit club were warned their £49million battle with HMRC and the £9million bill for unpaid VAT and PAYE will only be resolved if owner Craig Whyte gets the boot. The Scottish Sun can reveal a compromise deal â?? sanctioned at Treasury level â?? is within reach which could see the fallen giants pay back as little as TEN PENCE in the pound. That would mean instead of paying a whopping £49million penalty, Gers could get off with forking out a paltry £4.9million. But the negotiations hinge on new owners replacing shamed Whyte â?? and a company voluntary agreement in place with creditors. Last night Duff and Phelps joint administrator Paul Clark insisted: "HMRC have said to me that they do not want Rangers to fail. "There will be negotiations between ourselves, any new buyer and HMRC as to what that percentage will be. Assuming the company goes for a CVA there will be some form of deal done. "Whether that deal is a 10 per cent deal, a 50 per cent deal or a 100 per cent deal over a period of time, that's all up for grabs. "I don't suspect it will be a 100 per cent deal. "Someone said to me that HMRC never accepted anything other than 100p. That is simply not true. "People may have got that because of the attitude shown towards clubs in the English league. "English football clubs have the football creditors rule. You don't have that in Scottish football. "Ultimately a deal can, should and, I believe, will be done to offer HMRC a proper distribution from a CVA." The Scottish Sun understands that a tax deal with HMRC â?? whose mascot used to be Hector the Taxman â?? has been discussed and given the go-ahead at the highest levels of government. A source said: "This is welcome news for whoever wants to come in and take over Rangers. "At least anyone coming in knows that HMRC are going to be flexible. "It is also in their interest as if the club goes into liquidation they will get nothing. "The deal is only on the table for new owners and NOT Craig Whyte. He has treated HMRC with contempt." The news will be a welcome boost for hard-pressed fans who feared the worst after administrators â?? who yesterday arrived at Ibrox in a light blue van â?? launched a last-gasp bid to sell the club. Duff and Phelps also admitted they might not have enough cash to fulfil the rest of their games this season. But last night Clark said he was confident the cash-strapped club would stay alive â?? and get out of administration. He dismissed the fears of Gers director Dave King â?? who is planning a takeover with a consortium â?? that the club could die within weeks. Clark said: "There has never been a plan for liquidation. "There has never been a plan to destroy the fabric or history of the club. "I don't think that we have ever suggested that liquidation is really an option. "When people talk about liquidation they mean a closure, an end to Rangers Football Club. "What people really mean is, could there be a sale of the business to a new company and then the old company is liquidated. "I don't think that is likely but I accept it's still a possibility. "We are still pushing towards a CVA and that's what we've always been pushing towards. "I don't fully understand why anyone would suggest that the steps we're taking is a move towards liquidation. "It has been a challenge and it will continue to be challenging on all aspects and that includes getting an agreement with the players. I am confident we can gain a CVA and be out of administration before the end of the season." But Clark has urged potential buyers to stop posturing and get around the table. He added: "We want to make sure that anyone who is really in, is in. "We want them to show their hand as opposed to just talking about it. There has been a lot of talk. "We don't think by this time next Friday we'll have our final party that are going to buy on the Monday thereafter. What we do hope is those parties still left next Friday will have properly expressed their interest and we can talk to a smaller contingent who want to move this forward. "The sooner we can tease out who these buyers are and who these interested parties are the better. "If that means it then takes another few weeks to finalise the deal then so be it. "We will have a clearer understanding of where we are going. The talking is over, let's get on with it." Read more: http://www.thescottishsun.co.uk/scot...#ixzz1oa1ueIrx 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,568 Posted March 9, 2012 Share Posted March 9, 2012 I guess the freaks over at the TCS will working overtime now and seek for another bad rumour. 0 Quote Link to post Share on other sites More sharing options...
BlueMazza 0 Posted March 9, 2012 Share Posted March 9, 2012 Ha, £4.9mil is 'paltry'. We should thank Salmond for his pushing of independence. The Tory government no doubt see this as a way to secure a few pro-union votes by keeping Rangers in business. 0 Quote Link to post Share on other sites More sharing options...
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