dummiesoot 16,006 Posted April 5, 2012 Share Posted April 5, 2012 And what happened to the money we got for the arsenal shares? D&P say its dissapeared.FFS I'll need to jump off the Erskine Bridge twice now! Quote Link to post Share on other sites More sharing options...
Crespie6 334 Posted April 5, 2012 Share Posted April 5, 2012 Only a fool now would now disagree that liquidation is the best option for us.£55m owed to other clubs, losing £2m a month even WITH players dropping wages, a big tax case hanging over us.Even if a new owner comes in, i can see us just going into admin again and again.Unless some arab billionaire comes in, we'd be better off starting afresh.Id be happy to watch a weak rangers team for a few years, if it meant the club was being run correctly.get back to your knitting. Quote Link to post Share on other sites More sharing options...
Miggy Sinclair 179 Posted April 5, 2012 Share Posted April 5, 2012 OP's a fud. Quote Link to post Share on other sites More sharing options...
Gillete 1,338 Posted April 5, 2012 Share Posted April 5, 2012 Here we go againIt's like this is never going to end is itMakes you sick seeing all these clubs and business's like vodfone etc giving fuck all to HMRC but we end up getting shafted I just can't wait for it to end, whatever the outcome I'm fucking sick of the whole sagaIt's been going on for 3 yrs now which is a disgrace fromthose meant to come to a decision Quote Link to post Share on other sites More sharing options...
minstral 5,375 Posted April 5, 2012 Share Posted April 5, 2012 Why is it the best option as i am sure all the bidders would have seen this report before it was released and are still willing to go ahead. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 5, 2012 Share Posted April 5, 2012 Am i missing something here, Walter Smith came out and said last Friday when he left 9 months ago all debt was cleared and Rangers were in their best financial state for 70-80 years.Where do these figures come from?Walter Smith would not have thought of the £8 million to debenture holders as a debt. Nor would he have any knowledge of the Ticketus deal or Whyte's non-payment of VAT and PAYE. Combined those three items amount to £49 million of the £55 million debt announced today. A further £3 million of debt to other clubs is more than offset by £3 million owed to Rangers by other clubs. Quote Link to post Share on other sites More sharing options...
TheFarmer 260 Posted April 5, 2012 Share Posted April 5, 2012 We will agree a CVA of less than 20p in the pound hopefully Quote Link to post Share on other sites More sharing options...
Marco Negri's Beard 1,423 Posted April 5, 2012 Share Posted April 5, 2012 Did you read the administrators statement? Like seriously? Or did you just see a few figures and come to your own conclusion!Do you even need to ask? Quote Link to post Share on other sites More sharing options...
fyfe 19 Posted April 5, 2012 Share Posted April 5, 2012 It's incredible the number of people deciding what's best for the club when they don't know half the facts. We don't know the details of the bids, we don't know the verdict of the big tax case and we don't know how HMRC will deal with the decision made in terms of repayment options. The media come out with a worst-case scenario and people lose their heads. Quote Link to post Share on other sites More sharing options...
Fastrax 274 Posted April 5, 2012 Share Posted April 5, 2012 This is the most bizarre thread I have ever seen. Quote Link to post Share on other sites More sharing options...
gersandy 594 Posted April 5, 2012 Author Share Posted April 5, 2012 Read the statement. Doesnt matter how you dress it up. The fact is we owe out £55m, with the tax case taking it up to over £100m! Were in a fucking shit state, and no amount of bartering with creditors is going to bring down our running costs. Quote Link to post Share on other sites More sharing options...
bluebellsareblue82 15 Posted April 5, 2012 Share Posted April 5, 2012 Quote Link to post Share on other sites More sharing options...
Gazzalivesforever 1,987 Posted April 5, 2012 Share Posted April 5, 2012 Suicide is your only option. Quote Link to post Share on other sites More sharing options...
JCDBigBear 10,825 Posted April 5, 2012 Share Posted April 5, 2012 Only a fool now would now disagree that liquidation is the best option for us.£55m owed to other clubs, losing £2m a month even WITH players dropping wages, a big tax case hanging over us.Even if a new owner comes in, i can see us just going into admin again and again.Unless some arab billionaire comes in, we'd be better off starting afresh.Id be happy to watch a weak rangers team for a few years, if it meant the club was being run correctly.How do you arrive at this conclusion? A CVA is the best option for our Club. As for losing £2m a month that is not a correct take on how the Club operates. It is a skewed view due to our current predicament. Most of our income is front-loaded with season ticket sales which gives us operating cash which SHOULD be used throughout the season. Quote Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted April 5, 2012 Share Posted April 5, 2012 Liquidation is never the best option! Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 5, 2012 Share Posted April 5, 2012 And what happened to the money we got for the arsenal shares? D&P say its dissapeared.Didn't it disappear into a bank account of the stock brokerage Pritchard's which has since been frozen by regulators? Quote Link to post Share on other sites More sharing options...
scottyc06 6,915 Posted April 5, 2012 Share Posted April 5, 2012 Do you even need to ask?I suppose not but really, what is wrong with some people?! Jeeeeez!! Quote Link to post Share on other sites More sharing options...
jimmyblue75 20 Posted April 5, 2012 Share Posted April 5, 2012 Am i missing something here, Walter Smith came out and said last Friday when he left 9 months ago all debt was cleared and Rangers were in their best financial state for 70-80 years.Where do these figures come from?the BTC the WTC Ticketus other clubs/ and fuck knows what else Quote Link to post Share on other sites More sharing options...
scottyc06 6,915 Posted April 5, 2012 Share Posted April 5, 2012 How to turn a positive rep into a negative rep with Gersandy Quote Link to post Share on other sites More sharing options...
Crespie6 334 Posted April 5, 2012 Share Posted April 5, 2012 How to turn a positive rep into a negative rep with Gersandy Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 5, 2012 Share Posted April 5, 2012 Read the statement. Doesnt matter how you dress it up. The fact is we owe out £55m, with the tax case taking it up to over £100m! Were in a fucking shit state, and no amount of bartering with creditors is going to bring down our running costs.Come on, young fellow, circa £8 million is owed to debenture holders ... that's more a debt of honour than a real monetary debt. The Ticketus debt could be challenged in the courts with a decent chance of success, although it looks like a more pragmatic approach will be taken as a trip through the courts could take a while. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 5, 2012 Share Posted April 5, 2012 How to turn a positive rep into a negative rep with Gersandy In one not so easy to follow thread? Quote Link to post Share on other sites More sharing options...
TannochsideBear 355 Posted April 5, 2012 Share Posted April 5, 2012 Absolutely hilarious OP.Sorry gersandy, and I know the figures being thrown about on radio and tv this afternoon are frightening, but the facts as we know them from todays report point to the entirely opposite from liquidation.I dont support one bid over another as long as none of the bidders wish to go down the liquidation route, but take the BK bid as one example.Their itiktus means that Ticketus claim against the club for £27M disappears. Add into that the debentures debt of £7.7M which is strictly debt from an accounting POV but will never be required to be repaid. Add as well the £3.3M owed to other clubs as we are owed in more than that from other clubs, so these offset in our favour. Take that £38M from the "OFFICIAL" debt of £55M (note that, £55M, not any other figure you see or read about), and you have an active debt of around £18M.The BTC is not yet completed, and both our lawyers and the lawyers for the Murray Group still believe this will be won. We will see, but in any event it is most unlikely (next to impossible actually) for us to be hit with the full £93M in tax, fines and penalties from HMRC. Also, HMRC have already stated (privately) they will be happy with a long-term payment plan for any debt arising. Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted April 5, 2012 Share Posted April 5, 2012 Oh no.........we'll lose our history! Quote Link to post Share on other sites More sharing options...
Marco Negri's Beard 1,423 Posted April 5, 2012 Share Posted April 5, 2012 I suppose not but really, what is wrong with some people?! Jeeeeez!!Some people are pussies, evidently, most of us aren't. Still, you'll always get the reactionary morons. Graham Spiers and the Celtic fans love them Quote Link to post Share on other sites More sharing options...
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