Rangers FC

[Dick Moby]

It's a well known fact that England won the last 2 world wars all by themselves.

[bamboo]

That league was a farce, prior to all this nonsense.
In fact, that 10 point deduction has sent Rangers spirally down from 2nd to er...2nd.

In most other leagues you could mention, it would have a significant impact on a club.

Even Man Utd would hurtle down from 2nd, to 4th.
Ditto for Barcelona.

Southampton from 2nd to 10th. etc,etc.

How about, if clubs don't show the same dedication to the beautiful game, as the fans do and subsequently put themselves in a financial shit pit, then perhaps that club should be automatically demoted a couple of leagues, at the end of the season.
That would let them begin to live in a slightly more real world and start afresh.

If the fans are true fans, they'll still keep going and more often than not, lower league football is just as entertaining and sometimes more so, than premier league.
As a bonus, they may get to see their team promoted as well. Something Rangers and Celtic never have, as they've never been relegated.



!footie!

[bamboo]

Quick update/correction. Scores just in - Southampton would now go down to 11th!

[Meatus]

The reason it's got to this bad a level or to answer your question of how has the revenue allowed Rangers to own that much is not to do with their tax payments which have been paid every year (though yesterday it was announced since Craig Whyte took over the club, we haven't paid our tax in this last year.). It's to do with an EBT (Employment Benefit Trust) that Rangers were paying foreign players during big spending years of 2000-2008 under the stewardship of the previous regime and owner David Murray. What happened was Rangers big foreign signings such as Tore Andre Flo, Ronald De Boer, Frank De Boer, Arthur Numan, Giovanni Van Bronckhorst amongst others were paid their wages into offshore accounts as an Employee Benefit Trust in some way to dodge paying tax. Its all murky waters but suffice to say HMRC is saying it is illegal. I've heard Portsmouth did this as well and some other clubs. Now HMRC want their money and this has been ongoing for years. During various times over the last few years its been said that Rangers have a very strong case and would beat HMRC, that Rangers would need to pay them perhaps no more than ?12-15 million, that they would owe ?49 million, now thats increased to ?75 million or worst case scenario the club could become insolvent.

As with most things involving the tax man. They will get some money i would think. Whether its ?75 millin i don't know. What is embarrassing that Rangers have been forced into this administration route as it seems it was the owners Craig Whyte's plan all along, basically because he under budgeted his finances and he doesn't have enough money to run the club.

While it won't make it any easier for Rangers fans, there will be a few torrid years ahead and we will probably toil against Celtic. However the won 9 Championships in a Row from the mid 60's into the 70's and again from 79-86 we never won a league trophy. Celtic had to endure 9 years of not winning the league at the hands of us in the 90's. So the Rangers fans will have to suffer for a while. Its just important to stay behind your team while the bragging rights belong to Celtic.

[David Johnson]

Apparently the Rangers administrators are looking for ?24 million that was lent to the club and, ahem, went astray.

Anyone come across ?24 million about their person or gaff which they didn't realise they had?

http://www.bbc.co.uk/news/uk-scotland-g ... t-17067141

[Dick Moby]

That Mr Redknapp seems handy with figures.Might be worthwhile giving him a bell.

[Gusset Sniffer]

A dog called Rosie lives very well on fillet steak in Monaco !blues!

[Meatus]

Well its been said that the new owner Craig Whyte under budgeted and therefore needed cash so he sold 4 seasons worth of Season Tickets to a London based company called Ticketus for ?24.4 million. Now the administrators say that ?33 million has gone missing. So i'm guessing the extra ?9 million is the tax he is supposed to have paid this year but hasn't. The administrators are saying the ?24.4 million was paid to a parent company of the company set up to own Rangers. Looks like Mr Whyte has stolen the cash!

[Arginald Valleywater]

The administrators are going to earn their fee but will they get paid?!

[s rougier]

Well done to Meatus for his good explanation above regarding the history of the tax problem which Rangers have, but he did miss a key detail as he didn't mention where Rangers got the EBT idea from or who advised them?