>>>> Chris <<<<

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Originally posted by Chrissy
Just shows how much of a joke the SPL is when after our 10 point deduction Rangers are still 9 points above Motherwell in third.

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quote:

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Originally posted by Marc
A comment on the SS website:

riversider says February 14, 2012 3:20pm

Administration is just a way for the club to wriggle out of it's commitments to the tax authorities and others it owes money to. I don't care how much history the club has, if it can't pay it's way it should be shut down.

Fair point but I wouldn't be thinking the above if I was a Rangers fan!

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quote:

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Originally posted by Hammer
Worst part about it for the neutral that. They have shagged the taxman for tens of millions and are now in the process of negotiating a deal with them which if it doesn't come to fruition they will write off their entire debt and start again.

Brass neck.

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quote:

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Originally posted by mwg

quote:

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Originally posted by Hammer
Worst part about it for the neutral that. They have shagged the taxman for tens of millions and are now in the process of negotiating a deal with them which if it doesn't come to fruition they will write off their entire debt and start again.

Brass neck.

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Yeah the bunch of twats it's a joke!

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quote:

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Originally posted by JonnyJ

quote:

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Originally posted by Marc
A comment on the SS website:

riversider says February 14, 2012 3:20pm

Administration is just a way for the club to wriggle out of it's commitments to the tax authorities and others it owes money to. I don't care how much history the club has, if it can't pay it's way it should be shut down.

Fair point but I wouldn't be thinking the above if I was a Rangers fan!

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Leeds did exactly the same and Leicester. They got away with only paying something like 10p in the pound of the debts owed Still grates on me to this day as when we went into admin we had to pay 90p in the pound

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Originally posted by mwg
Something would have to go seriously tits up (obviously) for that to happen. And the debts decreasing all the time. I think the Glazers are in this for the long haul.

Was just thinking yesterday that no one had mentioned Man Uniteds debt for a while

[Edited on 14-02-2012 by mwg]

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quote:

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Originally posted by the times
The source said that HMRC wanted to choose the administrators because it was concerned the club’s management would try to arrange a controversial “pre-pack” form of administration.

A “pre-pack” would allow Mr Whyte to buy back the club debt-free and leave the taxman and other creditors to collect just a few pennies for each pound owed.

The source said that HMRC could not seek to place Rangers in administration for the “theoretical debt” relating to the EBTs while it was being challenged by the club.

Last night Mr Whyte said: “The club did not want or anticipate having to take this course of action but had no option. We had hoped that continued dialogue with HMRC would mean that a decision on administration would not have to be taken for ten days while all other avenues were explored. Due to its cost structure, the club has been loss-making for many months. This situation has resulted in increasing liabilities and the club has been in discussion with HMRC regarding these liabilities.

“These liabilities, combined with the threat of the outcome of the tax tribunal, left the club no option but to formally restructure its financial affairs.”

Dr Chris Brady, a football finance expert, estimates that at least eight top English football clubs are being investigated over unpaid tax. “Rangers may be the tip of the iceberg,” he told The Sun. “EBTs became popular with clubs as a means of reducing crippling wage bills. We believe at least eight current or former Premier League clubs are being investigated.”

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