Here:

http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/

what happens now? Sir David Murray now no longer the blamehound as it has been proved that EBT was not illegal if not immoral. Hearing a collective sigh of relief from the English Premiership who pay these EBTs also.

So Mr Whyte will be the target of Rangers fans aggression now, as he will be one to solely blame for not paying their VAT and Tax.

Raises the question, if they were to know they would have had a positive outcome in the case of the big tax, DID THEY NEED TO GO INTO ADMINISTRATION AND THEN LIQUIDATION, AS IT WAS ALL BASED AROUND THE BIG AND SMALL TAX CASE.

Could this be a massive mistake by the SPL and SFA, who we are used to seeing them score own goals. Rangers will likely get back to the SPL even stronger as they would have still been fighting to clear the manageable debt they had for a decade, but now they have no debt and will no doubt make bigger signings when they do get back. Will they have their signing ban lifted. Will the SPL compensate those clubs for the down turn in income without Rangers in the SPL, mind you all the SPL clubs chose to throw them out collectively, which in hindsight may not have been the right decision, although to all it did seem correct at the time. I know one thing, I would not want to be Craig Whyte now, as all blame shifts to his shoulders.

An accountant said to me about 6 months ago that Rangers would probably get off with it, as he had some clients paid via EBTs, and they were not illegal. But it was his after comment that struck a cord. He is a massive Man Utd fan, and he said if Rangers get a guilty verdict, Man U, Arsenal, Liverpool and Chelsea were going to get visited first by the tax man, and he thought that this would probably not be allowed by the well to do workings in England as these clubs would cause so much unrest in English culture if they were to go to the wall.

Dare say this means Rangers oldco will keep their titles. Still it will be strange to want Elgin City to win over the next two weekends, never thought I would want that!

But don't English clubs have the wit to make the EBTs extra to wages...as in payment for using their photographs on posters etc, for example..which is not payment for playing.

Whether Rangers keep their titles has nothing to do with the legality/illegality of EBTs, it has to do with whether Rangers were upfront and honest with the football powers that be regarding WHY they were using them. If they can reasonably be interpreted as payment for playing....then their titles could be forfeit. Though, given oldco no longer exists, the titles no longer exist either! Seems to me all that needs to be done is to treat Sevco as a Newco, which they are, and consign oldco, along with their dubiously financed titles, to the dustbin of really bad memories!

Edited November 22, 201213 yr by Oddquine

EBT's in themselves were never illegal. The question is were they used as payment for employment. If so then income tax was liable.

Can we not just move on? Rangers are in Div 3. Fine. Now let's get back to league reconstruction and financial equity....oh, and football! Good legue this year, isn't it?

Can we not just move on? Rangers are in Div 3. Fine. Now let's get back to league reconstruction and financial equity....oh, and football! Good legue this year, isn't it?

This is the thread about the team formerly known as Rangers and the new team called Sevco 5088 Franchise Newco Newcorpse Zombie FC 2012.

Team/club still same old Rangers FC founded 1872. Only the company name has changed from, The Rangers FC plc (now liquidated) to The Rangers FC Ltd.(Sevco franchise 5088). Mr green buying all the assets from the oldco and putting them into newco ie history, badge, stadium, kit etc.

Can't believe after recent findings people are still happy to 'have a dig' at rangers. All along HMRC have been lying and now not only RFC but the SPL and the national game is in a precarious position. Hearts are clearly feeling the effect along with a few others. Our own club even needed an Emergency meeting when Gers got sent down to 3rd division. This all could and should have been avoided if someone had done their job right!

Those who want to keep 'laughing' at gers on you go. But think if this had happened to us and ICT were now in the HL on the basis of a lie, everyone would be livid!

Team/club still same old Rangers FC founded 1872. Only the company name has changed

No, its not just a change of name it is a new company altogether, an entirely different entity.

buying all the assets from the oldco and putting them into newco ie history, badge, stadium, kit etc.

You can buy a stadium, you can acquire the intellectual property rights to a badge, but you cannot buy history!

All along HMRC have been lying

Find me a single thing they've said that is a lie.

More to the point, Craig Whyte thought Rangers would lose this case and offered a settlement on that basis, whilst Charles Green thought they'd lose it too and created a newco which would not have any responsibility to pay up. And I wouldn't be at all surprised if HMRC appeal and win.

Hearts' situation has very little to do with Rangers and more to do with a chairman who's a bit bonkers.

Like I said new company bought old company assets ie RFC 1872.

Also when Napoli went tits up in 04 they bought old Napolis history in 06. So I believe it is possible

Also when Fiorintina AC when bust in 01 or 02 they reformed as Florence de Fiorentina (or something like that). Had to change badge and weren't allowed to use traditional purple kit, instead wore all white. But I believe in 03 they won a court case which let them play in purple again, use old badge and are now called ACF Fiorintina.

Rangers haven't had those problems and are using same kit, badge etc

Also when Napoli went tits up in 04 they bought old Napolis history in 06. So I believe it is possible

Right, lets say you want to buy my history. If you want we'll even do it properly and get a legal agreement drawn up.

Does that mean you went to my primary school? Does that mean you set fire to my/your neighbour's back garden in 1982? Does that mean you got knocked out by a golf ball when you were 15? What exactly have you bought?

Like many others he's bought the idea that Rangers are still Rangers. No prize for guessing his true allegiance

I don't support a company, I support a club. Which company owns that club and whether they remain profitable or go bankrupt is entirely irrelevant to me. I suspect Rangers fans feel the same way, hence the fans of Rangers being fans of the Rangers (a term that was already used to describe the club).

The team plays in the Rangers strip at the Rangers stadium under the Rangers manager. If it walks like a duck etc.

I really do think it's time everone moved on. Yes, Rangers are under investigation for this and Rangers could sue for that. HMRC lost but they could appeal but might waste more money if they lose etc etc etc. For the good of the game, can't we just accept the situation is so muddled with wrongs on so many sides that we should just draw a line under it? Rangers are in the Tird Division. Punishment received. Long slow climb up the tables. Finished. Now, about the title race...

Aaahahaha bcz I believe Rangers the 140 year old club are still the same club that's in the 3rd division, but you don't Alex then that's means I'm clearly a rangers fan LOL.

A) Been supporting ICT since 1996 (longer than a lot of people on here)

B) my 'other' team as a child was actually Hearts

Oh dear alex, thought you were better than that

Also when Napoli went tits up in 04 they bought old Napolis history in 06. So I believe it is possible

Right, lets say you want to buy my history. If you want we'll even do it properly and get a legal agreement drawn up.

Does that mean you went to my primary school? Does that mean you set fire to my/your neighbour's back garden in 1982? Does that mean you got knocked out by a golf ball when you were 15? What exactly have you bought?

Taken from the Napoli site....

"Despite the fact that Napoli were playing in such a low division, they retained higher average attendances than most of the Serie A clubs, breaking the Serie C attendance record with 51,000 at one game.[31] The following season, they secured promotion to Serie B and De Laurentiis bought back the club's history, restoring its name to Società Sportiva Calcio Napoli in May 2006"

Oops!

If we can all start buying history, does that mean I can buy the history of Abraham Lincoln and other assorted minstrels?

When I worked in insurance in the 80s there was a fabulous tale going around that someone had claimed on their home policy that their rear garden had spontaneously combusted...the heat causing a stash of golf balls to fire randomly into the next door garden where an unsuspecting loitering teenager just happened to...

Hearts' situation has very little to do with Rangers and more to do with a chairman who's a bit bonkers.

No I disagree, both have overspent by tens of millions, with Rangers effectively liquidated over £15m or so whereas Heart of Midlothian are in more debt with a smaller income presently. But if you cant pay your bills you cant pay your bills, just some people are more to blame than others

If you aare worried about inheritance tax

All you have to do is loan  your goods to your kids, and when your clogs are popped they dont pay any tax because it is a loan/

? from a trust

And if you fall out out with them whilst you are still around , you can demand they pay it back

Then loan it to the RSPCA

 

And claim tax rebate

Yes Rangers are Lily White now

absolved of all sin like a Catholic after confession

It reminds me of the old marching   song of the first world war.

"Wash me in the water that you wash your dirty daughter in,, and I will be whiter than the whitewash on the wall."

 

One season in Div 3  Then a member of the new league set up,and  In 2014/15 like it never happenned

 

.

Edited December 7, 201213 yr by Laurence

 

It reminds me of the old marching   song of the first world war.

"Wash me in the water that you wash your dirty daughter in,, and I will be whiter than the whitewash on the wall."

 

Geez Laurence I didn't know you were that old

 

 

It reminds me of the old marching   song of the first world war.

"Wash me in the water that you wash your dirty daughter in,, and I will be whiter than the whitewash on the wall."

 

Geez Laurence I didn't know you were that old

 

Not quite but I sure feel it

or don't feel it , but that's a different matter

I am actually only 21 lol

It's true though Rangers are being whitewashed, ready for a return.

Here we go again - 15% pay cut - no way they say - a few more out the door then....

Astonishing mismanagement! And all because Rangers could never quite stomach the concept that they were no longer at the top table! They could have walked the bottom two divisions with their youngsters, but no! Let's pay top dollar for Prem players and tempt them in with wages we can't afford. Back down they'll go, and perhaps ther's no saving them this time....

This should probably be a new thread. We are now discussing a totally different limited company from the one that was liquidated then.

Astonishing mismanagement! And all because Rangers could never quite stomach the concept that they were no longer at the top table! They could have walked the bottom two divisions with their youngsters, but no! Let's pay top dollar for Prem players and tempt them in with wages we can't afford. Back down they'll go, and perhaps ther's no saving them this time....

Here's hoping......

It really is quite shameful and demonstrates that those running The Rangers are not fit people to do so.  Despite playing week in, week out against dross opposition, the fans of this odious club support their new team in huge numbers and buy club merchandise thereby putting very substantial amounts of money into the club's coffers.  The fact that The Rangers' board now have to impose pay cuts means that they have totally mis-managed the finances of the club despite the scrutiny of what is happening.

 

Their ugly cousins across the city must be laughing their heads off.  The sensible approach for The Rangers was to keep wage costs low in the early years and make best use of talented youngsters.  Income could have been invested to pay for wages when they hit the big time again.  A knock on effect of this strategy would have been the emergence of youngsters who would be good enough to play at the top level and who would not cost as much as the established players they will need to invest in.  Their irresponsible strategy may have allowed them to win the diddy leagues by a country mile but it will make them less competetive against Celtic when finally they reach the top tier.