Anchorman 0 Posted January 16, 2014 Share Posted January 16, 2014 It was based on their existing contracts from before we went into administration. To be honest, when you look at these salary figures and those of the likes of Martin Bain and previous players, you really have to wonder what others are earning at the Club based on their oldco/tuped contracts. Even pre-admin I would have asked what the hell did either do to warrant that salary. £120K to £140K is what I would have guessed at the top. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,653 Posted January 16, 2014 Share Posted January 16, 2014 The spiral of self harm continues. It's a total no win situation. King, eg, could wade in and buy up lots of cheap shares, at which point the price rises, and the Board of Uselessness tell him he needs to stump up several millions or else it's admin2 and his newly bought shares become worthless, again. Or potential investors stand well back, wary of being burned by the Moronosphere Collective, the share price plummets and it's admin2 because no-one will cover the costs. I suppose, if we do go into administration again, it seems absolutely clear that 100% competent and independent administrators would have to be appointed. Perhaps that's the only way out of this nightmare, although it would be only the beginning of the horror for employees of the club. And as much as Ian Durrant is a club hero, should have been a legend, that's a horrific salary to be taking out the club (a) if it's true and (b) given the absolute rubbish we've been treated to since he's been a coach. How can we go into administration? We've no creditors 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted January 16, 2014 Share Posted January 16, 2014 Nitpicking here, but someone was on the radio the other night saying that the figure of £826 for McCoist was a statement of what he received over 13 months, and his annual salary was £762K, but not a great deal of difference in the grand scheme.Salaries for Durrant and McDowall of £300K plus is fucking obscene. What the hell was that based on? God knows mate. They were under contract pre-newco were they not so they will be on SPL money too, a year and a half down the line we are just finding out. It's a crazy amount of money for people who do.........well there's not much evidence of what they do. 0 Quote Link to post Share on other sites More sharing options...
TheTinMan99 0 Posted January 16, 2014 Share Posted January 16, 2014 How can we go into administration? We've no creditors Give it a month or two. The well is almost dry. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,653 Posted January 16, 2014 Share Posted January 16, 2014 Give it a month or two. The well is almost dry. After the 120 day business review(and whatever cuts are made) the board will go back to the institutional investors for funding. How successful that will be remains to be seen. You cannot go into administration without having creditors seeking payment 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted January 16, 2014 Share Posted January 16, 2014 Am I right in assuming that there has been no official word from the club as yet? No you are not. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted January 16, 2014 Share Posted January 16, 2014 How can we go into administration? We've no creditors We have a line of credit from whom we don't know but should we use any of it then become unable to pay our debts as they fall due then who ever is behind the line of credit is playing with a very strong hand. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,653 Posted January 16, 2014 Share Posted January 16, 2014 We have a line of credit from whom we don't know but should we use any of it then become unable to pay our debts as they fall due then who ever is behind the line of credit is playing with a very strong hand. We've unknown creditors ? Find that difficult to believe 0 Quote Link to post Share on other sites More sharing options...
TheTinMan99 0 Posted January 16, 2014 Share Posted January 16, 2014 We've unknown creditors ? Find that difficult to believe Believe it, because it's true. When he says 'unknown', he means unknown by the support. Elements of the board know. It was all in the accounts. Edit, just read your post properly. Crossed wires I think. We have an unknown credit line, not unknown creditors, yet. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,653 Posted January 16, 2014 Share Posted January 16, 2014 Believe it, because it's true. When he says 'unknown', he means unknown by the support. Elements of the board know. It was all in the accounts. Edit, just read your post properly. Crossed wires I think. We have an unknown credit line, not unknown creditors, yet. We've an unknown credit line ? Who? 0 Quote Link to post Share on other sites More sharing options...
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