CumbrianRam Posted February 13, 2012 Share Posted February 13, 2012 Rangers Football Club has lodged legal papers signalling its intention to go into administration. The Ibrox club lodged papers at the Court of Session in Edinburgh on Monday, notifying an intention to declare an administrator. It now has five days to confirm whether administrators have been appointed to take over the running of the club. The moves comes while Rangers awaits a tax tribunal decision over a disputed bill plus penalties totalling £49m. It is understood the papers relating to administration were lodged by Rangers' lawyers on behalf of directors. If the club is formally put into administration it faces an immediate 10-point penalty from the Scottish Premier League. That would place the Ibrox club 14 points behind first-placed Celtic in the race for the championship. http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966 Link to comment Share on other sites More sharing options...
Boycie Posted February 13, 2012 Share Posted February 13, 2012 oh dear, send for Rednapps lawyers! Haha, I jest of course, Harry did nothing wrong, he's just terrible with accounts. Link to comment Share on other sites More sharing options...
Cisse Posted February 13, 2012 Share Posted February 13, 2012 Hope that Celtic does the same thing. Link to comment Share on other sites More sharing options...
froggg Posted February 13, 2012 Share Posted February 13, 2012 oh dear, send for Rednapps lawyers! Haha, I jest of course, Harry did nothing wrong, he's just terrible with accounts. Aw he just reckons he can't reda or wrtie 'http://www.dcfcfans.co.uk/public/style_emoticons/<#EMO_DIR#>/biggrin' class='bbc_emoticon' alt=':D' /> Link to comment Share on other sites More sharing options...
smiffy Posted February 13, 2012 Share Posted February 13, 2012 Ask their players to take a 50% pay cut, after all they are the main cause, they would surly oblige 'http://www.dcfcfans.co.uk/public/style_emoticons/<#EMO_DIR#>/rolleyes' class='bbc_emoticon' alt=':rolleyes:' /> , yeah right . Link to comment Share on other sites More sharing options...
CumbrianRam Posted February 13, 2012 Author Share Posted February 13, 2012 Ask their players to take a 50% pay cut, after all they are the main cause, they would surly oblige 'http://www.dcfcfans.co.uk/public/style_emoticons/<#EMO_DIR#>/rolleyes' class='bbc_emoticon' alt=':rolleyes:' /> , yeah right . Think they might a bit more than that to cover the £49 mill tax bill! Link to comment Share on other sites More sharing options...
smiffy Posted February 13, 2012 Share Posted February 13, 2012 Think they might a bit more than that to cover the £49 mill tax bill! So what do you think Rangers wage bill is a year, 30 ml ? Link to comment Share on other sites More sharing options...
uttoxram75 Posted February 14, 2012 Share Posted February 14, 2012 They're still paying for Laudrup's and Gazza's wage excessess. Link to comment Share on other sites More sharing options...
MuespachRam Posted February 14, 2012 Share Posted February 14, 2012 They're still paying for Laudrup's and Gazza's wage excessess. Yep...but what GREAT days!! Remember when they had almost half of the italia 90 England team playing for them..? Atilla Hatley, mark Walters on fire, King Ally, Mo Jo, Gazza, Laudrup, novo they have had some great great times up there.....shame they took a lesson from Redknapps school of finances. Link to comment Share on other sites More sharing options...
Gaspode Posted February 14, 2012 Share Posted February 14, 2012 saw their owner on sky last night - the £49M is just the missing tax that they owe - there apparently are also a number of penalties for missed payments etc which could bring the total owed to HMRC to £75M!!! Thought it was disgusting the way the owner was talking about Administration though - they can't afford to pay the bills and so will go bust, arrange some form of CVA to pay a small proportion of their debts and all will be fine - and he will then be willing to start re-investing - so that's cynically burning our tax money and damaging god knows how many other creditors in order to carry on doing exactly what got them into this mess in the first place......absolute disgrace - they should be shut down... Link to comment Share on other sites More sharing options...
Gaspode Posted February 14, 2012 Share Posted February 14, 2012 breaking news - HMRC have applied to put Rangers into administration - this will allow them to appoint the administrators (rather than Rangers choosing who will do it) and should ensure that the taxman gets a bigger chunk of the pie - Rangers really could be buggered.... Link to comment Share on other sites More sharing options...
ramexpat Posted March 7, 2012 Share Posted March 7, 2012 a Glasgow Rangers Director believes that club will not come out of admistration and will go under , what is happening to football, something should have been done years ago to prevent situations like this and Pompey, the clubs are to blame i know, but its a shame for the fans , There could only be 1 club in Scotland soon Celtic will be loving this - [url=http://www1.skysports.com/football/news/11788/7577004/Rangers-director-fears-the-end]http://www1.skysports.com/football/news/11788/7577004/Rangers-director-fears-the-end Link to comment Share on other sites More sharing options...
Shake n Bake Posted March 7, 2012 Share Posted March 7, 2012 Without the old firm rivalry Celtic will lose money as well though. Its bad that teams are going under, but its unfair teams like man city and chelsea can spend millions because of the wealth of their owner, not the income the club makes. Link to comment Share on other sites More sharing options...
Gaspode Posted March 7, 2012 Share Posted March 7, 2012 heard a report this morning that the administrators thought that they had an agreement for the big earners to take a significant wage cut in order to move forward - unfortunately the player's agents refused to go along with it..... also heard that the issue that got the taxman interested (i.e.paying players into offshore accounts/trusts without going through the books) is in breach of SFA rules and that they could be stripped of their last 7 league titles.... Link to comment Share on other sites More sharing options...
Donny Ram Posted March 7, 2012 Share Posted March 7, 2012 The situation gets even more complicated as it's now come to light that future season ticket sales revenue was leveraged and factored to generate the initial purchase funds. It now appears liquidation is the likely outcome. Sad to see this but it's no different from lots of other companies in other industries. Link to comment Share on other sites More sharing options...
DissRam Posted March 7, 2012 Share Posted March 7, 2012 At least, finally, football clubs are seeing they are no different to any other businesses and should be treated as such. As Donny said it's happening in other sectors so no reason it shouldn't happen to football, should of happened sooner. Link to comment Share on other sites More sharing options...
McRamFan Posted March 7, 2012 Share Posted March 7, 2012 heard a report this morning that the administrators thought that they had an agreement for the big earners to take a significant wage cut in order to move forward - unfortunately the player's agents refused to go along with it..... also heard that the issue that got the taxman interested (i.e.paying players into offshore accounts/trusts without going through the books) is in breach of SFA rules and that they could be stripped of their last 7 league titles.... The situation gets even more complicated as it's now come to light that future season ticket sales revenue was leveraged and factored to generate the initial purchase funds. It now appears liquidation is the likely outcome. Sad to see this but it's no different from lots of other companies in other industries. The heat is definatly getting ramped up on this, and you have to wonder what is going to happen. Some reports have inferred that the SFA could also be held to account, as well as other clubs that have been involved with transfers to and from Rangers. To hazard a guess, and this is just me speculating on other agent stories from the past. I think the agents are forcing this by refusing to go along with this as it will cause the club to just disappear literally overnight, and limit the investigation into deals that have taken place. Link to comment Share on other sites More sharing options...
alexxxxx Posted March 7, 2012 Share Posted March 7, 2012 if rangers fold, what will happen to the SPL? Link to comment Share on other sites More sharing options...
bearam Posted March 7, 2012 Share Posted March 7, 2012 if rangers fold, what will happen to the SPL? Who cares? Link to comment Share on other sites More sharing options...
McRamFan Posted March 7, 2012 Share Posted March 7, 2012 if rangers fold, what will happen to the SPL? They will carry on regardless, however Celtic would probably thin out their squad, and reduce their running costs further (something they have been doing for a while), possibly see the emergence of Aberdeen and a few others over the next few years. Link to comment Share on other sites More sharing options...
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