What Planet Is This Jamie Kennedy On.

[Thermopylae 15,286]

What gross financial mismanagement? Murray sold the club to a crook and with the exception of Kilmarnock the rest of the game lined up to give us a good kicking when we were down

[macranger 296]

I don't believe it was mismanagement to use ebts as the tribunals have sided with us. The mismanagement was allowing the debt to get to £80m in late 90s and 00s.

The thing is mate, we were managing the debt. It was coming down year after year. We only owed £18 mill. (FFS, only. lol) It was shitey whitey that fked us up.

[JCDBigBear 10,825]

We had been badly mismanaged financially for years which is why Murray was forced to sell RFC for £1. We were £18m in debt when sold but that did not take into account the £3 to £4m small tax case nor the fact we would be a further £10m in the red when we failed to qualify for the Champs League. We would have to have sold players to try to stop the debt getting so high. The EBT case is still not finalised because HMRC appealed again. Yes we were successful so far but it isn't over and until it is then we cannot be certain.

[mitre_mouldmaster 21,509]

We had been badly mismanaged financially for years which is why Murray was forced to sell RFC for £1. We were £18m in debt when sold but that did not take into account the £3 to £4m small tax case nor the fact we would be a further £10m in the red when we failed to qualify for the Champs League. We would have to have sold players to try to stop the debt getting so high. The EBT case is still not finalised because HMRC appealed again. Yes we were successful so far but it isn't over and until it is then we cannot be certain.

Agreed.

Even if we do win the EBT case, it was still a risk.

If we had the capital sitting in the bank to cover the risk of the use of EBTs then you could say it was a risk worth taking as we had a contingency to pay it. If it was challenged though (as it was) we would not have had the ability to continue trading whilst the case worked its way through the courts.

Regardless of the final outcome, the very use of the EBTs was a risk that has cost us dearly. Dont get caught up in the technicalities, the EBTs were the reason we found ourselves demoted to the bottom tier.

[Redwhiteandblue 3,330]

I'm confused what's the problem with this piece?

Gretna and ICT have both came from the bottom to the top.

That's just one of the problems.

[Redwhiteandblue 3,330]

its looking more like the specific plan by whyte to get to admin and get shot of the debt backfired, rather than anything Murray done at that time. True, we had huge debts at one point, which should never have been the case, but my perception was that they were back to a manageable level for a club of our size- £19M.

The financial mismanagement was Whytes botched attempt at clearing the debt and subsequent neglect at paying tax. Unfortunately he did own the club and we cant get away from that fact, so we were guilty of gross financial mismanagement - albeit at the hands of one fucking loser of a man.

Spot on and honest assessment.

My only problem.... It was £18m.

Pedantic loyal

[Redwhiteandblue 3,330]

Is he saying that no team has came through all the divisons to the top league?

Gretna, Livingston and Inverness just off the top of my head.

Oh aye, Livingston.

Forgot about them.

[Mr RFC 696]

Gretna and ICT have both came from the bottom to the top.

That's just one of the problems.

Correct me if i'm wrong but he didn't say otherwise.

[Creampuff 22,628]

We had been badly mismanaged financially for years which is why Murray was forced to sell RFC for £1. We were £18m in debt when sold but that did not take into account the £3 to £4m small tax case nor the fact we would be a further £10m in the red when we failed to qualify for the Champs League. We would have to have sold players to try to stop the debt getting so high. The EBT case is still not finalised because HMRC appealed again. Yes we were successful so far but it isn't over and until it is then we cannot be certain.

Why would our debt increase because we don't qualify for the Champions League?

[dougie76 15,359]

Why would our debt increase because we don't qualify for the Champions League?

Loss of revenue?

[Redwhiteandblue 3,330]

I believe that was cleared

It was nearly cleared. Murray cleared £50m, the fans - a few million more. The debt was down to £18m, the BTC was looming and the press had all sorts of horror stories so Lloyds shat it and demanded their cash pronto. Murray's hand was forced in the direction of the only bidder. Don't thik I need to go anymore into that.

Couple of typos, had to edit, so read it again Compton.

[Redwhiteandblue 3,330]

Why would our debt increase because we don't qualify for the Champions League?

The last set of accounts I seen before we sold to shyte showed we were running at a £10m loss.

Qualifying for the Champions league would've let us break even.

Makes you wonder what would've happened if we had qualified. Would Whyte have kept the finances in order?

Or would he have ripped even more of our club appart and been able to get away with it for longer as we wouldn't have to been put in admin?

[Redwhiteandblue 3,330]

Correct me if i'm wrong but he didn't say otherwise.

Sorry, who is "He"?

[Mr RFC 696]

Sorry, who is "He"?

The writer of the piece we are talking about.

[Redwhiteandblue 3,330]

What gross financial mismanagement? Murray sold the club to a crook and with the exception of Kilmarnock the rest of the game lined up to give us a good kicking when we were down

Kilmarnock abstained. Which was the same as a no vote.

That was made perfectly clear at the time.

Why do Kilmarnock get off so lightly? They voted for us to be put out by abstaining.

[Redwhiteandblue 3,330]

Correct me if i'm wrong but he didn't say otherwise.

He said: Glasgow Rangers are on the cusp of something brilliant, something which has never happened in the history of Scottish football advancing through every division from the very bottom.

He is wrong. ICT, Gretna and Livingston have all done it before us. And they all done it on less than Ally McCoist gets paid in one year.

[Mr RFC 696]

He said: Glasgow Rangers are on the cusp of something brilliant, something which has never happened in the history of Scottish football advancing through every division from the very bottom.

He is wrong. ICT, Gretna and Livingston have all done it before us. And they all done it on less than Ally McCoist gets paid in one year.

Fair play. I missed that completely.

I remember Gretna doing it with back to back promotions and getting to a Scottish cup final.

[Redwhiteandblue 3,330]

Fair play. I missed that completely.

I remember Gretna doing it with back to back promotions and getting to a Scottish cup final.

Aye, the Gretna story was a proper fairytale story.

Was a shame that the guy (Brooks Milestone?) died and his club essentially went with him.

Love stories like that. And now we have a kinda pyramid system in place, hopefully we see more stories like these.

I remember when the selection process was beingmade after airdries ccollapse. There was teams like Spartans, Cove Rangers and a few other well know non-league teams all applying to join the league, then they picked Gretna!!

I was like "Gretna! Gretna! Who the fuck is Gretna!

But it was an inspired choice.

(Probably inspired by a few backhanders)

[Mr RFC 696]

Aye, the Gretna story was a proper fairytale story.

Was a shame that the guy (Brooks Milestone?) died and his club essentially went with him.

Love stories like that. And now we have a kinda pyramid system in place, hopefully we see more stories like these.

I remember when the selection process was beingmade after airdries ccollapse. There was teams like Spartans, Cove Rangers and a few other well know non-league teams all applying to join the league, then they picked Gretna!!

I was like "Gretna! Gretna! Who the fuck is Gretna!

But it was an inspired choice.

(Probably inspired by a few backhanders)

Not that the scottish football authorities are self serving.

Yeah Gretna where a real football fairytale that turned into a tragedy. Shame.

[JCDBigBear 10,825]

He said: Glasgow Rangers are on the cusp of something brilliant, something which has never happened in the history of Scottish football advancing through every division from the very bottom.

He is wrong. ICT, Gretna and Livingston have all done it before us. And they all done it on less than Ally McCoist gets paid in one year.

None of them did it in only three years. Don't say Gretna because although they did 3 promotions on the trot, it took them a few years to get the first promotion.

[JCDBigBear 10,825]

Why would our debt increase because we don't qualify for the Champions League?

Because we were financially mismanaged. Whenever we failed to qualify for the CL in the years after about 2000 our debt increased.

[Rangers Lady 2,380]

Can't see a huge amount to complain about in the article

Fucking handwringer

The OP/Kennedy "not EB" talks utter shite.

We been set up/infiltrated and shafted by haters

Our finances were well within the limits of clubs much smaller than ours.

Gross mismanagement my arse

[JCDBigBear 10,825]

Fucking handwringer

The OP/Kennedy "not EB" talks utter shite.

We been set up/infiltrated and shafted by haters

Our finances were well within the limits of clubs much smaller than ours.

Gross mismanagement my arse

That is a "head in the sand" attitude. We need to face facts and the main one is that Murray had mismanaged us fiscally for years. If our finances weren't so bad why did he sell us for £1? Lloyds knew of the EBT claim by HMRC (which is still not dead) and the implications it had for them getting their money back. If we didn't qualify for the CL then the debt would rise by some £10m. I assume you have never looked back at the old accounts because you can see what the pattern was. Whyte is a fraudster but that doesn't hide the fact we were in financial bother as soon as we lost to Malmo. By Christmas 2011 the £18m would have increased to nearer £30m unless we sold players.

[dummiesoot 16,006]

I believe that was cleared

Nope, £50m was moved to mih, £1m paid by fans and IMO, SDM never forgave the fans for not backing that rights issue as much as he wanted, trouble was he still wanted the full control he had. Still had £30m debt.

[Tontospal 1,116]

After causing a lot of their own problems through gross financial mismanagement, something even the most ardent of Gers supporters will admit

Well I class myself as an ardent Rangers fan and this statement really pisses me off.

None of the cunts who caused the problems and made the decisions have anything to do with us anymore.

The biggest travesty in everything that has happened is that the club and the support have been held accountable whilst the individuals responsible walked away with no guilt or requirement to fix the mess they caused with no consideration for the related consequences.

Murray, Whyte & Green caused, or exacerbated, the problems and not one of the cunts will be at Ibrox on Thursday because they are not, and never were, Rangers men like us.

The club survives and we defend it on a daily basis no thanks to people who couldn't care less about it and are responsible for the mess.