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Rangers go into administration


KingBeastie

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Not sure how this would affect matters:

HMRC to ask court to put Rangers into administration

HM Revenue and Customs (HMRC) is set to ask the Court of Session to put Rangers Football Club into administration.

The legal move counters the club's bid on Monday to file for protection against its creditors.

The papers served on behalf of Rangers directors would give the club 10 days to resolve its differences with HMRC.

However, the response from HMRC suggests it is seeking to take charge of events. The court hearing is set to take place on Tuesday morning.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17026172

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I see they are in contact with Manchester based administrators Duff & Phelps:

http://news.stv.tv/scotland/west-central/297509-hmrc-moves-to-put-rangers-into-administration/

A little bit of irony that a Manchester based firm gets to clean up their mess after they trashed the city a few years back!

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Interesting debate this

I think the little clubs in the lower divisions will enjoy the cash from a visit from Rangers

If they get punished like Livingstone ?

I could run a football team using other peoples money

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Correct me if im wrong but i get the impression that if the HMRC suceed with their administration application today then they can appoint administrators of their choice and will no doubt strip every asset available to reclaim what they are owed. Rangers/Craig Whyte would have no say in who is appointed and therefore no influence on how deep the administrators cut.

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The Volcanic blast from Ibrox yesterday has now just been followed by an earthquake !

Looks like there will be no survivors - The tax men muscling in with their hard hats & sniffer dogs i guess.

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Interesting debate this

I think the little clubs in the lower divisions will enjoy the cash from a visit from Rangers

If they get punished like Livingstone ?

I could run a football team using other peoples money

Money could be made but at what cost?

Some of these sleepy villages or towns will get destroyed when thousands of Orcs turn up on a Saturday afternoon

Dougal

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If they get punished like Livingstone ?

If they get punished like Livingston then nothing will happen.

The SPL did not deduct any points from Livi, it was the SFL which added the punitive 'demotion' punishment after they were relegated from the SPL and when they could not guarantee to fulfill fixtures .... The SPL put rules in place after the Motherwell, Dundee and Livi administrations so that future teams going into administration were fined 10 points, hence the reason Gretna had that sanction placed on them, and like Livi, the punitive additional sanctions were only added after they had left the SPL through relegation and dropped into the SFL.

If however, they get punished like Livingstone then malaria and dysentry may indeed be the end of them !!!

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No matter what happens rangers are in Administration today. They have until 3.30 to do it themselves. Or Court will allow HMRC to do it today. Apparently, Whyte had a firm already lined up, so likely, it will be done on Rangers terms.

Edited by Dewsburydude
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not sure on the ins and outs of it but noticed they are making murmerings about players being made redundant.... any chance andy shinnie might be able to persuade one or tow of the younger fringe players to come up our way ( geussing they would be off the books as a redundancy rather than an attempt to sell)

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not sure on the ins and outs of it but noticed they are making murmerings about players being made redundant.... any chance andy shinnie might be able to persuade one or tow of the younger fringe players to come up our way ( geussing they would be off the books as a redundancy rather than an attempt to sell)

Rangers have a much superior youth setup to ours and i'm sure there are a few gems that would be valuable additions to ours and indeed most SPL sides however i would think that the first things an administrator would look at would be a) selling off the biggest assets in terms of players ie. MacGregor, Davis etc and b) looking to shift on (make redundant) players that may not necessarily have a resale value but that are drawing a large wage, probably the likes of McCulloch etc

I would think the administrator would keep younger players on the books as they would be on comparatively cheap wages

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Rangers are now officially in administration having appointed administrators Duff and Phelps. The HMRCs seperate attempt to put rangers into administration and appoint their own administrators failed

Immediate 10 point deduction will apply

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Great news today to be honest, to a point. The only sad thing is that they are probably going to get away with this financial miss-management and robbing tax from the very country all sing a rave about each week. Can you imagine an extra £75 million in the NHS coffers? Instead they will be deducted 10 points, finish second, where they would have anyway and managed to squirm away from the full amount. They need to be severely punished to set an example. I certainly couldn't rack up £100 in unpaid tax let alone £75 million! Demoted to div 3 at the very least. Rule Britannia and all that :lol:

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How pathetic is Scottish football if selling your only real striker and losing 10 points does absolutely zero to the table. If this doesn't show what's wrong with Scottish football, I'm not sure what does.

The things Craig Whyte is saying too just makes me believe that nothing much will happen with Rangers. A bit of restructing. Reduced means. Then carrying on with a budget that means buying McArthur and Cowie when they were in the SPL, instead of Edu and Jelavic. Not sure that would be such a bad move anyway.

I've never worked in tax but I have in environmental regulation. If an owner polluted a river, we would be entitled to sue him (polluter pays principle). However, if he was going to go bust and we would get nothing, a solution would be found to try to recover some money and make sure he didn't do it again. Revenge was never really part of the issue. As much as many think morally Rangers should get shafted for trying to illicitly gain tax breaks, the HMRC should really be emotionless about this. Fine them as much as it takes but liquidation means no-one gains. Not HMRC, not the tea-lady. A hefty fine means no big-time players. Seems the likely solution.

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The bigger you are the less you fall

I seem to remember in England many moons ago

Peterborough made illegal payments to players and got relegated

Manchester Unt did something similar and got fined

Bury played an unregistered player loanee ( on for 10mins) in the cup and got thrown out

West Ham played an illedal player in the league and got fined, costing Sheff Unt relegation. When there was only goal difference between the two of them.

I'm afraid the powers that be don't challenge the big clubs like they do the small ones.

Iwonder why?

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So, HMRC's action to force administration today was a result of unpaid taxes dating back to May last year and not the "big case".

Is that an indication that their problems run deeper than the big tax case....or a deliberate "money saving" ploy because they knew the big case was always going to get them and the chance to pay off that bill at Xp in the pound seemed too good a chance to pass up?

What about the frozen assets? I thought that had been done to secure payment of certain (possible) liabilities...do those frozen assets remain frozen to cover those liabilities if/when they fall due, or does administration mean that it's all back to being one big pot for everyone to fight over?

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Latest News

Rangers FC are in talks with Heart of Midlothian FC about a possible merger. Sources have indicated that the new club will have an even longer name than Inverness Caledonian Thistle. This new club will be registered as Heart of Midlothian Rangers Club (HMRC)

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it wouldnt surprise me if they did owe us money

when the list comes out it will probably contain a lot of things people will be massively surprised by.... to be honest though i find the whole affair quite sad. its saying something that this countrys league has allowed one of its two biggest clubs to get into this state. i am largely in agreement with caley d on this matter. something needs to be done and i fear it will involve some years of hurt before coming out the other side. sadly i dont think clubs like rangers and celtic are going to come out of this smelling of roses. the smaller clubs in the end will shine through this and i can see a less attractive league with respect to tv rights not far off on the horizon but there will be a desire from the fans to watch football that will support it

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At a guess ... if they owe ICT money it will likely be for damages or ticket sales ... or both

If seats are broken/ripped out or other damage done in the away end of a stadium, the home team routinely sends the visiting team a bill ....

When it comes to ticket sales, quite often away tickets for an all ticket match are sold by the away team (eg. you had to buy your Celtic tickets for last weekend from ICT ... Pretty sure its the same when Rangers/Celtic come here and we send the tickets down the road.)

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Think it will be interesting to see how many fans Rangers bring on the 24th. Some of their fans may choose to not put any money into the pockets of other clubs except Rangers. ICT may indeed be concerned about getting paid for ticket sales.

I can't help but wonder how Rangers will get here. An over-night stay seems unthinkable unless somebody else pays for it. Wonder what McCoist's mini bus driving skills are like.

Expected to see lots of Rangers fans in the Sneck defiantly wearing shirts and scarves today. Didn't see one. It seems to have totally knocked Gers fans for six.

What really cracks me up is the irony of HER MAJESTY'S REVENUE & CUSTOMS chasing Rangers. Wonder if they'll be singing God save the Queen this week. If Rangers fans aren't, Celtic fans might be.

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Something else mentioned today, the HMRC big tax case is for Rangers avoiding tax by using an offshore way of payment to their players, resulting in only around 3% tax rather than 40% tax. It is meant to be a legal loophole, and many other top football clubs in the UK use this method, but the HMRC have found a way to plug this loophole. AND many other clubs will be getting investigated for this very same thing, including all the bigger payers from both sides of the border.

What I am also wondering is, will the players who gained from these offshore banking accounts, will the HMRC be chasing these guys aswell now!!

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