Rangers Rumours Archive February 29 2012

 

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29 Feb 2012 23:44:33
Did anyone see the special report on s*ysports news last nyt? David Gold was bang on when he said 'how have the HMRC let rangers owe them 60-70 million' its their duty to tell companies their not paying the correct amount... HMRC have no idea their wasting tax payers money chasing cases they cant win but that doesnt get mentioned!
FauldsRFC

Believable25 Unbelievable41

They didn't let us owe them 70 million. We used ebts for years and hmrc now think that we have used them illegally therefore owing them the money. Where have you been for the last two years, how do you not know this

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Rangers dont owe 60-70m.as of right now its around 5-7m + the 9m from when whyte took over.if rangers case is so good why did murray try and settle for 13m in jan'11? why is whyte playing hunt the cash? it all points to defeat............green jhedi

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Daviv Gold obviously isn't aware of the nature of the tax debt, and rather surprisingly neither are you.

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Tax cases are complex (So people can hide the monies) unlike David the last thing you could call him is complex.

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Im an accountancy student studying tax, how much do you know?? no one knows how we owe 70 million thats why its at court.. Its not for just using EBT's, the first person to reply made my point. They havent looked at our books after one year of the use of EBT's they waited a decade!!
FauldsRFC

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David Gold makes a lot of money, but that does not make him well informed. I read his comments yesterday and it sounds like he thinks the £70M is a result of The Gers not passing on PAYE deductions, when it is in fact much more complicated than that. Also beware of anyone in football who tells you HMRC is acting badly given the history of football finance a lot of these people are shaking in their boot in case they are next. So they will do anything to try and scupper the investigations

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The EBTs as run by Rangers (if found against) would efffectively be theft. Your point is a bit like a burgular complaining that the police did'nt catch them soon enough

David

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Thats still not the point tho and gold didnt say anything about why rangers owed this amount, he obviously wont know.. Hes just saying that if hmrc have got a problem with the way a company is being run they should let that company to continue another 10 years then want penalties and interest...its hmrc's job to make sure a company is paying the correct tax.. The portsmouth guy on it also said hmrc were asking him how a football club is run.. They still have to have sufficient evidence that we have been doing wrong..

FauldsRFC

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I thought it would be Rangers accountants that make sure they are paying the right tax. I assume Hmrc have come across something irregular when doing some sort of audit.

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If Hmrc were aware of a problem or perceived problem, surely they would have acted earlier. That way they are not chasing massive debt with a risk of not being paid what is due?

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29 Feb 2012 22:17:46
admin are looking after whyte and we will end up in liqudation thats why whyte said there is more bad news for us fans they are all in together admin an whyte a wish hmrc got there guys in to do admin

Believable43 Unbelievable15

No chance. Duff and Phelps are statutorily bound to act in good faith. Plus, think of the publicity they'd get if the botched the admin? No chance they're in whyte's boat. Muzz

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Regardless of what boat the administrators are in the longer this goes on the bigger the bill for the administration. These guys dont do this for free and they will continue as long as their is cash or assets to pay their bill

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That's correct, Administrators always get paid first and foremost. They are not cheap; Chartered Accountant specialists in Admin/ liquidation. I got worried when they started saying 'coming months'?

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Administrators made £1 million from Barratts shoes .ibid the sun newspaper.

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As a celtic fan, i hope rangers find a solution and can continue as rangers fc. i for one will miss the old firm in scotland. lets hope if anything disappears, its the sectarianism from both clubs. HH

MARKYBHOY

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Well said Markybhoy

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SPOT ON Markybhoy! i wish there were more fans from both sides that would wake up an smell the coffee, the old firm need each other full stop!

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I agree Markybhoy, there's nothing better than going to watch an old firm game

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Thanks markybhoy, it's not looking good just now for us. i agree all this politics and religion is a load of nonsense in this day and age. I support the team for the football

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29 Feb 2012 21:15:26
I am sorry is everybody still in denial. If the administrators were really trying to save the club they would have released Naismith and Lafferty and any other long term injured to save able bodied players. All is not well, still expecting another saviour to rescue the club. wAKE UP FFS. The only way to make it work is to get rid if players immediate ly they are burning money the club doesn't have, pushing it closer to liquidation.

Believable53 Unbelievable34

Dont forget duff n phelps are running up a pretty hefty bill themselves and they are first to get settled.............green jhedi

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Why would the administrators get rid of players who have a value injured or not???

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Naisy and lafferty will be sellable assets in the summer,the first players to go are those with no sell on value reaching the and of their contract ,players like papac and heally

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Let me get this straight... Dump Naismith (£5m) Pump Lafferty (£2m) a striker we need and due back in 2 - 3 weeks, or hang on to them and if needs be sell them in 4 or 5 months time for a mint...
Thank feck ur the jannie and no on the admin team!
BB

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These players have sell on value why realease them makes no sence so will not happen.

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No sure bout employment law bt i always thot u coudny get bagged while on the sick without paying a settlement is it diff for footballers

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Naismith wont sell for 5mil clubs know tht we r in trouble so will bid lower.

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Yeah, yeah more wishfull thinking. Another cellic man absolutely obsessed by rangers. No one seems to care much about that other mob, even their own so called supporters. Glasgow Rangers, even when we are down we are the only show in town.

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Sell laugherty for a mint ? I really have heard it all now from you rockets, get real ffs......Stevie

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I really do hope That you are Timmy on the wind up. The thought of a Gers man being so stupid is concerning.

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Unfort administrators have a shorter term job and work on definite figures. hence why injured out...harsh world !

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In denial! least of your worries mate need to give up whatever it is your smoking! Release Naismith? Rangers best player and biggest playing asset.... Really! What a nobber.

MidlandRanger

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Cast your mind back to last week when there was talk of Craig Whyte having transferred players contract's to Wavetower. Although, still unfounded this guy is capable of anything. It seems to be anything with a few zero's after the £pound sign has been re-routed to somewhere else. I've now come to expect the unexpected. However, I'll remain optimistic.

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Ur spot on mate! the administrators would have denied cousin a contract immediately and big earners would have been out the door long ago. liquidation is almost inevitable.

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Or with wage cuts and losing a few bodies we scrape by to the summer when all the main assets will be sold.

we need to remain competative to attract bodies to ibrox.

rangers wouldnt simply sack their biggests assets, they would ask for special dispensation to sell outwith the transfer window as fifa allowed portsmouth to.

when that happens I'll panic, till then keep calm and follow on

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If rangers could last till summer before unloading valuable players,they would not be in administration. wise up !

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Celtic should not take up any tickets at Ibrox and beam the game back to Parkhead. They could use some of the profit to make up the difference of the money being taken from the Rangers charity foundation.

I still wonder why Rangers are in administration, when they can pay their full expensive squad yet withhold cash to other Scottish clubs. All for a 10 point penalty. they should have been relegated to division 3.

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Your being silly mate why on earth would rangers off load their biggest assets.

they will either defer wages till being sold or agree a pay cut.

if they couldnt continue cashflow wise they could ask for dispensation to sell out with the window.

we're in administration because whyte used the PAYE cash to run the club rather tham use is own, morally dubious but sensible from a business perspective.

admin was inevitable, we'll be in admin for some time as we still dont even know what our true liabilities are.

going phoenix is a very real possibility, but its not imminent

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"morally dubious but sensible from a bussiness perspective" what planet are you from ? its illegal plain and simple.and that is why you are in administration and will soon be liquidated !

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Is everyone forgetting naismith is out with a serious injury, an injury that could possibly end his career. I wouldn't wish that on anyone and he has come back from the same injury to the other knee. Knees aren't build for constant abuse. This comes from a retired former player due to acl tear.

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And another point. all those people who paid their tax and national insurance will be hunted by hmrc at the end of the tax year.they may have been deducted tax etc from their wages.but they still havnt paid it and are therefore liable.rangers and craig whyte have commited fraud at best,but really have just stolen this money.everyone involved in this crime should be jailed !

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The staff who had tax and nic deducted by rangers but not passed over to hmrc will not be hounded by hmrc they had there gross pay deducted at source it's rangers who r being hounded not employees get your facts right

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Correct and it is potentually malpractice.

David

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The staff who had tax and nic deducted by rangers but not passed over to hmrc will not be hounded by hmrc they had there gross pay deducted at source it's rangers who r being hounded not employees get your facts right



But the basic point is correct this fraud is a CRIMINAL offense

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Smoking was I when I posted this, truth hurts? The truth is Naismith is seriously injured. There is little or no chance of selling him in the summer and there is no guarantee he will return the same. This is a long term gamble. £5 million with his injury history and the state of the club dont think so, whos been smoking? The whole point is to steady the ship, these guys were even thinking about trying to still sign cousin wtf. Everyday they waste is another day closer to the point of no return.............

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I may be wrong but i believe it is not illegal to delay payment of tax and nic until end of tax year although tax man obviously doesnt like and doesn't advertise that it can be done to prevent the situation where companies run up tax bills and then find they cannot pay as is this case here which is why I think HMRC acted as they did when cw said he was looking at administration.

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Correct. Many companies delay passing over paye deductions of staff as they may. Have cash flow problems nothing illegal in it believe me in these hard times it's more prevalent than you may think

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29 Feb 2012 21:06:13
RANGERSNEWS ,
There will be no players leaving until next monday , was talking to a u-19 player today and players on international duty will be given time to come back....AS

Believable10 Unbelievable43

Are they on international duty on another planet? How long are you giving them to return home?

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No News is Bad News delayed!

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There will be a clear out, but it is likely to be next week. admin and ally will have decided who by now, but you me and everyone else wont find out until next week. lots of legal to be sorted before randomly punting players. i reckon 10 first team squad players - bedoya, broadfoot, papac, goian, heally, hemmings, little, aluko, mcculloch, kerkar. Other players will likely follow in weeks after and many more in the summer - those who have resale value. there will be no team to speak of by the start of the next season, and likely we will still be in admin. this is not a good time to go looking for an investor in a scottish football team. Eventually though, I do believe we will build a good team from our youth team, but not a title winning team for a couple of years :-(

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Rangers wont build a good team if the u-19s are ALL being released! Very hard times ahead for rfc and other creditors havent even been named......... AS

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Daily Record today (1st) says 11 to go with the rest taking 50% wage cuts.

Jungle Bhoy.

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29 Feb 2012 21:03:41
fellow bears im getting really confused about this 6mil, does this mean that admins employed by whyte might end up taking a part of whytes other company to court to gain access to it, ed you any ideas what is going on
craig+babybear

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Craig+Babybear,

My understanding is that the money is sitting in an account with Craig Whyte's solicitors - Bristow & Collyers. I don't think he has any other ties with them in terms of being business partners etc.

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Cheers , its getting really confusing now, just wish this crap would clear up, unfortunately cant see it being soon... craig+babybear

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29 Feb 2012 19:55:56
Ed I don't know if you can post things like this but I would appreciate it if you did.

I have chosen to run the Edinburgh Marathon on 27th May 2012 on behalf of the Rangers Charity Foundation. For the season 2011/12 the foundation is working with charity partners UNICEF, the Prostate Cancer Charity and Erskine.

They also aim to assist other charities and charitable causes where possible - particularly those which address their key prority areas which are, the needs of children, education, social inclusion, health and well being and tolerance and understanding of the beliefs of all sectors of the community.

In addition, the Foundation makes the dreams of hundreds of sick, disabled and disadvantaged children come true by arranging for them to meet the players and attend matches and tours at Ibrox.

Given recent events with the Rangers Charity passing money on to Rangers I think it is even more important to show our support for the Charity itself.

Anything you can give will be going to a worthy cause so dig deep with anything you can afford and lets help them out.

The link to my Just Giving page should be shown below.

Thanks Again

Gav

www.justgiving.com/Gavin-Carey

Believable11 Unbelievable12

Well done Gavin, good man.

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Well done mate.good luck.........green jhedi

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Well done m8, all the best!.......govan_front87

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The foundation has been magnificent since its inception but it can only give to another charity and RFC (In administration) is not a charity. There are no tax implications when giving to a charity so why open another can of worms. I cannot believe what they are doing. Good on you mate for for your t effort.

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Nice to hear mate good luck.
craig+babybear

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Cheers lads. Still to recieve a donation yet though lol.

Gav

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To the unamed poster, if you read about it, then you will notice that it was the charity themselves that has suggested to give the money to rangers, by all means the gers should not accept it but if they want to give us money in good gesture and at this time when money is badly needed, then i wouldn't know anywhere else to look basically no any other option, btw, WHAT A MAN GAV MATE, KIND HEARTED MAN YOU ARE ALL THE BEST, WATP, (LOYAL BEAR)

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Do rfc have charitable status? If not how can the RC give cash to them?

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29 Feb 2012 19:36:01
lets get the last of the tickets for saturday snapped up and show the world we dont do walking away and get ibrox rocking and get right behind ally&the boys coz they need it

Believable39 Unbelievable34

Where were you over the rest of the season?

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He may have been at ibrox. I know what youre trying to imply,its not as if weve been playing in a half empty stadium for the league games.Round about 44000 at most games this season. And that was to watch mostly cack.

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At ibrox .the team need others getting behind them

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Yeah thats right make sure you pay administrators lads, just like whyte they see yous coming.

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Pity your owner did not feel the same..He bolted quicker than Allan wells haw haw

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You don't do walking away? Methinks you're running away from your debts!

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What does it matter where people have been all season. Now is when it conts. Bums on seats no matter who they are. Even Celtic supportes are welcome.

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No more money from me im afraid...its only going via craig whytes administrators into various stiched up accounts and the debt left over will become larger

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How many tickets r left for sat??

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RFC will never be liquidated if 50,000 fans keep turning up at Ibrox, loyalty does get its rewards.

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A bit late for all this fabulous support.
Where were you all season?

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Hope you have a big crowd and maybe
the teams that are waiting for ticket money will be paid and then the can pay their staff.

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29 Feb 2012 18:59:55
paul murray will be on keys n gray tomoz on talksport from 10am

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And?? He is not your problem whyte is ..

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Well maybe some people want to hear what he has to say ...

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Did he not have anything to say before Whyte took over? He wants to buy the club now, he couldve got it for £1 previously. He will not invest in the club before the FTT result.

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He could not have got it for £1. This was a deal only to whyte, forced through by lloyds as they wanted rid of their debt

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Lloyds were quite happy with their secured debt, DM was not and obviously needed it cleared for commercial reasons.

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29 Feb 2012 18:56:33
Evening ed just seen the news admin team say they know were the money is it's in Whyte lawyers can you explain why it's in their and not in the rangers account . We already new it was in their a think the admin team are working in Whyte favour the hole thing stinks ...bluenose kenny {Ed014's Note - It is just like any other transaction,they money goes where you ask.Like your wages going into a joint account.

Believable13 Unbelievable6

Its David Murrays fault, he needed 18 million to keep his property empire from collapsing and his cross company guarantees meant he couldn't afford the risk of losing the big tax case.

He sold a 10 million per year loss making business to a professional business undertaker. Whytes business track record was no secret.

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Not sure that I agree with the response above. Any cross guarantee would be in respect of bank debt not the tax bill as the Bank would not have increased the facility to cover the value of the tax case.

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Maybe Whyte and his cronies want to hold onto as much money as they can get away with!

Do you think ?

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You may be right, which begs the question why DM sold RFC when it was reducing its debt and the 18m was secured against RFC assets.

If there were no risks to trading on despite the tax case then the answer must be he needed the money.

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29 Feb 2012 18:51:42
Still 4000 tickets left for this weekend home game against hearts have you got your ? Come on best less get another sell out
Play ur part

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29 Feb 2012 18:33:05
Graham Spiers on Superscore board saying he was a Gers Fan....WATP..

Believable21 Unbelievable10

I know for certain that he IS a rangers fan. paranoid fundamentalists like yourself think he is anti rangers simply because he rightly criticises certain issues which people like you get insulted by. just get a life.

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He has never denied it. The guy has the b*lls to admit it. But he has a job to do and does it in a proffesional manner .

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He has been saying he was a gers fan 4 years good on him admitting it.

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Most important word there is "Was", he admits it regularly that rangers were his boyhood team.

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Does it really matter? Who do you think Keith Jackson and Darrell King support? Does that matter?

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When the bullet and neil lennon stuff was going on speirs was asked on national news why he thaught this stuff was happening , speirs reply was that he thaught it all stemmed from the popes visit to scotland the yeaq before , i thaught that was an astonishing to say giving that there was no trouble or arrests that day and by the look on his face when he said it he didn,t look all that convincing that he actually beleived it as far as i was concerned he said it for effect. put me right aff the guy cause it was total garbage what he said , he thaught he was bein a smart erse.

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First reply calm doon hen I merely commented on what he said....get a grip

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WATP , Neil Armstrong landed on the moon ! Everybody knew Graham Speirs supported Rangers , he has never hid the fact .

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Gers fan?

Its not exactly something to be proud about!

Have u not been watching the show?

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Spiers a gers fan / just doing his job.........give us a break........do you think the green fans would stick the boot in to their team.............dont think so........they know how to stick together, that is and has always been the problem........fact.

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Graeme Spiers is a Rangers fan in the way that Gerry McNee was a Celtic fan....the sort of rodentine, cord jacket wearing pustule that you would avoid sitting next to on a school trip at all costs..his assertion on record that Celtic have "probably been discriminated against in for years" was simply laughable(and unsupported by any other evidence than the Cadete thing)sums up his burning desire to get on the right side of the righteous bhoys.

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The problem is he's one of the many thousand of normal rangers fan.The problem's with the say 15-20% of loonies "who's up to their knees" to quote a better meaning.I'm a celtic fan myself and have respect for the guy.Bluenose or not.....He's the rangers Davie Provan.....

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The guy tells it as it is no shame in that he said about the songs the debt the mismanagement of the club dosnt mean he is against rangers need more guy like him around

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29 Feb 2012 16:44:17
Looking at the posts regarding the impending job losses( can't call it redundancies as there will be no pay out of monies due) has got me thinking that when this happens could we organise a can collection on match day for a fund to aid the staff who lose their livelihoods ( I mean office, maintenance staff etc not playing staff)

Does anyone know the legality of this and how it
could be organised ?

Believable25 Unbelievable8

Great gesture mate,i think the SFA should also pump a few quid in.your supporters trust could do it?.......green jhedi

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And after that we could put the can round every week, until the next millenium, for HMRC aka the humble taxpayer who may be down a mere £75 million.
Aye right !

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Phone up the ticket office, i work in ibrox on match days and usually work with the can collecters.
GC

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Just pledge at scavengers .com like other idiots

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Did wee Sally the pie sellar post this message ?.

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The staff will get the lowest pay out as possible and then have to go and beg of the authorites for the rest that they are due. OK if you are on players wages but not so if you work as clerical staff or canteen staff wages. Hail the Whyte years.

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Why do you not ask Dunfermline and Dundee United to for go their money that is due to them and add it to the cans sorry, can't do that as you have no money to pay them. Cheek to ask Celtic for money up front for tickets to use money to pay wages. SNAKES BELLY springs to mind.

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This is a fantastic idea and very generous of spirit. Maybe the RST is the way to go?
Good luck with it.

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This is whats pis#es me aff cfc fans come on taking the mick when people losing there jobs that need cash just like them for rent an cars etc
well said green jhedi least theres a few cfc fans that are decent out there

TB

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To the "Tool" that thinks we should ask Dunfermline & Dundee Utd...

You should maybe consider who was the first club to ask for payment up front on the ticket issue. I'll give you a clue - it wasn't Rangers, so it must have been C.....C you fill in the space.
This will surprise you even more..... even with Craig Whyte in charge we paid in advance... Do unto others as they would do unto you!! Live on the moral high ground just now... you won't be there long.

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The staff are legally entitled to redundancy money. Having said that, it is a great idea to top it up with a collection can. As for the tims above, even if Rangers were to cease existing tomorrow you would never become the most successful club in Scotland. This is why you are so bitter.

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29 Feb 2012 16:25:52
Brian Kennedy is interested in taking over at Rangers

http://www.dailymail.co.uk/sport/football/article-2107428/Businessman-Brian-Kennedy-interested-Rangers.html

Whats everyones thoughts on this?

The guy seems to be a Gers man and
has a large personal fortune

I know we want a consortium but I think
this guy could be good for us.

J

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Defo mate.... Listen I don't buy into this "it can't be one man again"... It can't be one man if it's a panny like "sir" davie but if your a man who actually knows how to run a club and you have the right people round you like I'm sure Kennedy has then go for it man get some fresh blood in.
PaulRFC

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Heard a few names over the weekend and he was one. My client(im a taxi driver) has numerous football players and football minded sorts for clients himself and hes a financial advisor. He toldv us long before anything happened that administration was a guaranteed..... He kept saying jst wait and see as plenty r interested.......

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Happy for him to steady the ship but the fans MUST be in charge after a few years

hamburg style...........les

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Thats yesterdays news... but thanx for waking up ....

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Wakey Wakey we've been heading into admin for the last few seasons you don't need to be a financial advisor to work this out ... Fighting fires way before 14 of feb !! Four men had a dream !

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Check out brian kennedy on the stockport fc pages..:)

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Eh shouldnt be allowed anywhere near the club after what he done at stockport.... we have been duped once if we allow it to happen again more fool us.

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More chance of Calum Kennedy buying theM I think.

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To the guy that said about stockport then u check about sale sharks ya nugget

and kes that will never happen here an it would be a very bad move for gers

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Craig Whyte was a Gers Man!

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By all accounts this guy has money. Whyte didn't. Don't think Stockport and rangers are the same. If he buys rangers which I doubt very much he'll not want see his investment go broke. Be in his interests to make it work. Also last I heard he was still bailing Stockport out with free rent etc so hardly the heartless rogue some are making out.

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Not a Gers man at all. Grew up a hibee

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Im sure there was a story moons ago about him wanting to buy Hibs. If thas the case hes hardly a gers fan. Its obvious his real passion is Rugby not sure hes the ideal man

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Whoever we get, who is going to do the fit and proper test?

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He's a dyed in the wool Hibee!!

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Whoever said CW has no money is wrong, he has money but he is not going to put any of it into a black hole.
Administration was an inevitability, DM couldn't do it because cross company guarantees may have brought his property empire crashing down.

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29 Feb 2012 15:30:21
A big police presence at Ibrox this afternoon. Was passing earlier and the roundabout at the copland end had about 6 police motorcycles and outside ibrox were a few cars and vans. i was curious so drove past and seen a few journalists, rolled my window down to ask what's going on and they said nothing of note but there has been a lot of comings and goings....they expect some news to break.Anyone know whats happening??

J1985

Believable15 Unbelievable24

Didn't know there was a roundabout at the copeland road end

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Could this b the curtain call? Fongers crissed!!
We were the people and now were on the endangerd spieses list!

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A few cars and vans outside ibrox 3 days before match day? looks suspicious , especially when you throw in the new imaginary roundabout at copland rd .

and you rolled your window down?
how old is your car?

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The roundabout at BROOMLOAN ROAD is a well known vehicle check point.if it,s bikes you can bet it's that.........green jhedi

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Sorry broomloan end. as for my window i drive a 06 plate golf with electric windows ya pernickety wee c##t. pulled in at copland stand to text this post n obviously made a mistake. honestly some ae the comments about a simple mistake on here is beyond a joke.
j1985

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J1985 i think your name may be wee timmy from the other end of the city. and honestly i think craig shyte talk's wee bit more sense than u. well at least when he lie's some can believe 4 a short time. I.E not inventing roundabouts and such. W.A.T.P

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I saw this too there were about 100 police 12 motorbikes and 3 mini buses in the old albion car park

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No bother watp ya idiot. timmy a typical response from a small minded individual like yersel. iv been posting on this site reguarly for a year now n other regulars will back me up even the selik boys like lenny, miko n timalloy. i make a mistake about where the roundabout was get over it. if u feel so strongly about pulling guys up for stuff like this then batter in shows ur a pathetic wee sh**e with nothing better to day or nothing worthy of posting.
j1985

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J1985 i agree totally mate

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J1985 well said bud

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Youve got more to worry about than roundabouts Zebadee!

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As for my window i drive a 06 plate golf with electric windows ya pernickety wee c##t.

Classic reply lol.

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It was vosa doing a massive spot check there they dont have the power to stop you thats why the police was there to do it for them

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I wouldnt think it was vosa going by the amount of police that was there

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29 Feb 2012 15:16:58
Just heard from **** ( works in gers monthly office, and my aunt) all staff in that office have been told they will be redundant from 5th march and ahem hears from others in stadium a massive cull has happpened...she thinks asuch as 50% of staff made redundant within ibrox.

Believable16 Unbelievable19

Mmm all staff ?

How do you trade if no one is opening the doors and answering the phone ?

RFC is not in liquidation, it is a going concern, it needs staff to keep it going.

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Mmm a going concern that makes a loss :)

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Look at what the origianl poster said properly before criticising.

All staff made redundant in the Gers Monthly office.

50% elsewhere.

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Publication of Rangers Monthly is suspended until we exit administration so it would be logical that the staff will lose their jobs

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All staff who are possibly at risk, even if they dont loose their jobs, will likely receive formal notificatio tht thay might lose their jobs.

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Staff in monthly office all ok from what i've heard, no redundancies, business as usual.

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29 Feb 2012 14:01:02
We know that on 6 May 2011, Craig Whyte completed his take over of Rangers Football Club and became the new Chairman. Phil Betts was Whyte's first appointment to the board, joining on or around 7 May. Both Whyte and Bett were directors of Wavetower, the company through which Whyte bought Rangers.

On 9 May, Rangers entered into an agreement with Ticketus to sell them the income of season ticket sales in exchange for an immediate cash injection. This cash was used to pay an £18m debt owed to Lloyds TSB.

Ticketus is a part of Octopus Investments who operate a number of Venture Capital Trusts, such as Octopus VCT 3. The Chairman of Octopus VCT 3 plc is one Ray Greenshields, who is also a non-executive director of the Close Brothers Group.

According to rangerstaxcase, in October 2011 Rangers gave a fixed charge security over their assets to Close Brothers.

Phil Betts runs a company called Primary Asset Finance, who provide funding and refinancing to businesses. PAS' website is "sponsored" by State Securities, Davenham (now in administration) and Close Brothers.

PAF were involved in joint ventures in Countryliner Group Limited and LM Logistics (currently in administration) with Merchant Corporate Recovery plc, of which Craig Whyte was then a director. Betts was and remains a director of Merchant Turnaround plc. Both MCR and MT are under the umbrella of Merchant House with whom Whyte is still involved as a director of some of its subsidies.
Is this not the same Close financing that paid for the refurbishment of the catering facilities at Ibrox and now on a future share in it all?

Believable25 Unbelievable3

A good investigative post.

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Excellent post. Deserve's a column in the press for the wider support to see.

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Thought this was common knowledge, no catering,merchandise or ticket money. where can we make money? The futures bleak

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Seems that it was all pre planned and worked out well in advance.so if that is the case does it open the door for fraud or planing to deceive? don't know the exact legal wording but something along these lines.

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While I appreciate the freaks for the future of rangers, these people haven't actually done anything illegal.
What they have done is carry out a meticulously designed plan to a tee.
Their only mistake seems to have been misjudging the public interest that this venture has attracted. They seem to be under the impression that probably no-one would mind if rangers went into administration with liquidation a real possibility.
Their only interest is making money out of it.
What a bitter pill for all the honest workers at ibrox

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And I meant fears, not freaks. Sorry!

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Maybe you should print it out and hand around at the Hearts game at the weekend. Im a celtic supporter and posted that on here because im a socialist and dont like seeing ordinary hard working fans and employees getting screwed.

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29 Feb 2012 14:16:01
Just heard on Sly Sports that the administrators have found up to six million pounds in the solicitors used by Mr Tight in London.

Believable25 Unbelievable17

Are you sure ? Can they get access to it ?

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They knew it was most likely that money (in the region of 6 mill+) was there last week & have already taken legal action for the account to be made available to them as they'd previously been refused access

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What they found was possibly 2m in whytes lawyers account saying the other 4m was used to pay tax on original 24m from ticketus
But also said that unless they can get some sort of clarity on money and who owns what they can't sign off accounts or even sell to another buyer
May just be me but this seems to be playing out exactly as he has planned it with only outcome being liquidation and the only winner being whyte
Also starting to doubt administrator having best interest of club at heart.

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At most it will be £2M. The Admins were looking for the £6m left ovwer from Ticketus, once the £18M to the bank was paid, £4M went to a tax bill, leaving them £2M they had no visibility on

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Can they get their hands on it though??

bill72

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SoOoO? ed? is this good news or just news? (LOYAL BEAR) {Ed001's Note - has to be good news, if there is money that belongs to Rangers they can force access to it through legal channels.}

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Do u people have selective hearing i think u will find what was said was think

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If thats the case it will just about pay administators wages as there bleeding the club dry just like there friend whytey

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I am not sure it can be said with any cerainty this money is actually the property of RFC, it depends on the sale agreement. Considering the known risks to RFC at the time of the sale, I would be astonished if Ticketus had not built in some protection in the event of administration-liquidation. Advanced ticket sales of a non-existant company are worthless, and what is any company worth if its sold its main source of income for the next few years ?

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Rangers can’t have it both ways if they are liable for the 24m ticketus money then fair enough the 6m should be theirs but they can’t try and say the 6m is ours then scrap the ticketus deal ( or try and wrangle out it which has been reported)

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So ed if money belongs to others ( for example hearts ,dundee utd , dunfermline ) ,can they access it through legal channels ? {Ed001's Note - if they could prove it belonged to them, yes they could. But that is not the same as proving that the club owes them that much.}

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They havent found £6m they have said they want access to the account for all you know there could be 6p in the account.

WG

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Its a fallacy to think that the administrators will always act in the best interests of the club. Their first duty is to the creditors.

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Are you people sewn up at the back. they are removing the word gullible from the dictionary

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No they are not, I've checked and its still there.

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Whatever happens it will be craig sh*te that comes up smelling of roses with his pockets full, he said last week we would be out of administration before next pay day, he will be proved right, cause we will be in liquidation by then......

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No surprises finding the money.

Its getting back is the hard bit.

All whytes companies and the ones he just resigned from will be charging for services.

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29 Feb 2012 10:10:30
Players contracts have all been adopted by the Administrators......does this mean they see club as going concern and can trade its way out or be sold to new investor? Positive news if true methinks.

Believable30 Unbelievable22

Where have u heard this ?

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Where does it say this? I believe there will be redundancies tomorrow after the International game.

On a side note if the big paid players, Davis, McGregor and Whittaker turn out to be contracted with FC Group rather than club it'll open a can of worms for the club and the SFA.

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They've always thought that was the case & said so in a press conference within 24 hours of being brought in!

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More likely that the club is heading for liquidation, and the administrators are securing the few assets that are left.

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Employment Contracts are automatically legally adopted by administrators 14 days from date of administration unless terminated.

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14 days expired yesterday.....

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So could be good news, or very bad news!

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This is more likely to e true than someone the moronic posts on here or listentin to the media/pundits like Darrell King

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D. King. His first name should be Wan

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Yes I agree with the first name comment regarding Dave fae Africa. His interfering is just mudying the waters. He clearly won't be accepted as fit and proper due to his activities elsewhere. Can't believe fellow bears get excited about another charlatan.

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29 Feb 2012 09:08:56
Redundancies today!!
As Scotland prepare for Wednesday night’s friendly with Slovenia in Koper, two members of the party must wait to discover if they will still be in a job by the time they return to Glasgow in the early hours of Thursday morning.

Allan McGregor, the Ibrox goalkeeper, and his specialist coach at Rangers, Jim Stewart – who also has the same role with Scotland – expect to be told some time on Wednesday if they are surplus to requirements with the stricken champions.

Even if the pair survive the cull to be imposed as the club’s administrators attempt to slash running costs, it is all but certain they will lose team-mates.

“Allan will be waiting for word from Ibrox tomorrow and so will Jim,” said Craig Levein, the Scotland manager. “There’s a lot of anxiety because people are waiting to find out what their situation is but they’ll be focused on doing their jobs here.

Believable15 Unbelievable39

What a HELL of a bargain he will be if he's made redundant. If he goes, an EPL team will snap him up for pennies!!

What a damn pity its getting to this stage. One thing i will say though is, he is the best keeper we have had since Goram!

I hope he is allowed to stay but if not, i'll be following him wherever he ends up and he'd still be my first choice for Scotland!!

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McGregor will be kept. He has a good value for the transfer market

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This rumour does not make sense. McGregor is a valuable asset. Can believe the comment about the coach and I can envisage cuts in the coaching staff but the administrators are not going to release valuable assets for nothing. If anything McGregor will probably agree to deferral of his salary.

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Yep big player cuts on way

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