TheMotor

If it was Whyte's team who uncovered this two weeks ago, as reported elsewhere, why would it have come up as a potential dealbreaker on Friday? Couldn't possibly be the Sunday Mail is full of shite again could it? Surely not........

Sorry for the off-topic post. I am no great Murray-hater, there were some really good times before the rot of recent years, but I am afraid to say that if I knew so little about the history of Rangers, both distant and recent, and so little about the personnel involved in both sides of this takeover, I really would keep my head down. There is some amount of nonsense written on this board but honestly........utter, utter drivel.

We can't bury them until they bring the case. They have been trying to do so since 2008 or 2009, I think, but keep pushing it back. They have yet to win a case on this but they keep trying, rather than admit that they screwed up their own regulation. With regards to the comment on HMRC throwing away money prosecuting these cases, I believe the Dextra and Sempra cases cost them upwards of 150 million pounds in combined legal fees and they lost both.

Oddly enough, the HMRC website will provide clear and easy access to the original court ruling in their favour in the Dextra case but not the subsequent Special Commisioner rulings in the Dextra and Sempra cases where they were brutally pumped. Those, for some reason, are not downloading . It appears there was a change in the rules in 2003, which may be the reason why money has been set aside in the interim figures for the period 1999 - 2002, where the rules are different to those for the following period but I don't understand it enough to be sure. The funny thing is reading some of the legal opinion on the changes that HMRC made in 2003 to try and close what they believed to be a tax avoidance loophole. The following are from one assessment by a tax specialist in London, with regards to the section that I think Rangers are being chased under: and

As somebody has answered above, it was 25.5 million at the same point last year. To show the complete hollowness of the analysis by the BBC, though, even if you just stay with liabilities and ignore net debt for now, our NET LIABILITIES have dropped considerably as our current assets have grown. We are owed more money than we were last year (3 million) and have nearly 5 million more cash available to us than we had last year. How they have managed to report all this as a poor financial result is astounding.

Link Now on Plus Market pages DJ Rangers Football Club Plc Half-yearly Report TIDMRFC UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS TO 31 DECEMBER 2010 Chairman's Statement Retained profit before exceptional provisions for the six months to 31 December 2010 amounts to GBP11.9m, in a period which included our participation as the sole Scottish representative in the UEFA Champions League group stages, set against the impact on core revenue streams of the current economic climate and disruption to fixtures due to extreme weather conditions in December. Turnover for the six month period decreased by GBP4.1m to GBP33.7m due to the reduction in the number of Clydesdale Bank Premier League home games (2010: 7 games; 2009: 10 games), including the absence of the first Old Firm game, in comparison to the prior year. The results also reflect the economic downturn with a 4.9% decline in the number of season tickets sold together with a reduction in sponsorship income. This was partly countered by the improved performance in European competition and qualification into the knockout stages of the Europa League. Net operating expenses at GBP21.1m are in line with last year, with base salary costs at similar levels and reduced matchday costs offset by higher maintenance expenditure and provisions for doubtful debts. The exceptional item reflects a provision for a potential tax liability in relation to a Discounted Option Scheme associated with player contributions between 1999 and 2003. Discussions are continuing with HMRC to establish a resolution to the assessments raised. The increase in amortisation of player registrations reflects the additions of Jelavic, Weiss and Beattie to the squad, whilst the gain on disposal of player registrations of GBP3.7m includes Wilson and Thomson compared to the lower gains for Ferguson and Adam in the prior year. After accounting for interest charges including an exceptional provision of GBP0.9m relating to the Discounted Option Scheme, the retained profit for the six months to 31 December 2010 amounted to GBP9.0m compared to GBP13.1m for the same period last year. Bank facilities have been renewed in the normal cycle until 31 December 2011. However, while we appreciate the support of the Lloyds Banking Group through the Bank of Scotland in extending our credit arrangement and recognising the progress that has been made in developing a template for collaboration, certain provisions imposed on the Club continue to compromise, in our opinion, management's ability to conduct its role with maximum efficiency. Having said that, as has been widely reported the majority shareholder is currently engaged in ongoing discussion with a view to selling its equity interest in the Club. The outcome of this process could change the role that the Bank will play in going forward in its financial structure. Distinctly separate from the Discounted Option Scheme, and in touching on HMRC's enquiry into the Murray Group Management Limited Remuneration Trust, I would emphasise that no allegations have been made to suggest any illegal activity, and tax vehicles of this type have been used by a number of companies throughout the country. We continue to vigorously contest HMRC's challenge on the taxation treatment of the Trust and in doing so continue to receive reassuring opinion from tax, accounting and legal specialists. The Club has been actively involved in current discussions regarding the restructuring of Scottish football, and in particular the Scottish Premier League. However, there are no conclusions as yet to an agreed structure, but we hope that a consensus can be reached to revitalise the game in this country and its standing in European football. We are all acutely aware of the distractions off the park, but can assure all stakeholders that our objective of adding the SPL trophy to the Co-operative Insurance Cup and providing Walter Smith with a fitting finale is resolute. The strength of the Club is in its collective and unyielding support to achieve footballing success. I thank you for your commitment and passion as we challenge for another title. Alastair Johnston Chairman 1 April 2011 Consolidated Profit & Loss Account 6 months to 6 months to 31 December 2010 31 December 2009 Unaudited Unaudited GBP000 GBP000 Turnover 33,718 37,834 Net operating expenses (21,133) (21,008) Exceptional item (note 1) (1,870) - =------------------------------------------------------------------------------- Trading profit 10,715 16,826 Amortisation of player registrations (3,860) (3,730) =------------------------------------------------------------------------------- Operating profit 6,855 13,096 Gain on disposal of player registrations 3,719 678 =------------------------------------------------------------------------------- Profit before interest & tax 10,574 13,774 Interest (note 1) (1,550) (677) =------------------------------------------------------------------------------- Profit before tax 9,024 13,097 Taxation - - =------------------------------------------------------------------------------- Retained profit for the period 9,024 13,097 ================================================================================ Basic and diluted earnings per share (p) 8.3 12.0 ================================================================================ Note 1: The exceptional item reflects a provision for a potential tax liability in relation to a Discounted Option Scheme associated with player contributions between 1999 and 2003. A provision for interest of GBP0.9m has also been included within the interest charge. Consolidated Balance Sheet 31 December 2010 31 December 2009 Unaudited Unaudited GBP000 GBP000 FIXED ASSETS Tangible assets 117,088 120,127 Intangible assets 13,364 16,312 =------------------------------------------------------------------------------- 130,452 136,439 =------------------------------------------------------------------------------- CURRENT ASSETS Stock 2 2 Debtors 10,678 7,829 Cash at bank and in hand 5,220 597 =------------------------------------------------------------------------------- 15,900 8,428 =------------------------------------------------------------------------------- CREDITORS Amounts falling due within one year (28,926) (25,510) =------------------------------------------------------------------------------- NET CURRENT LIABILITIES (13,026) (17,082) =------------------------------------------------------------------------------- TOTAL ASSETS LESS CURRENT LIABILITIES 117,426 119,357 CREDITORS Amounts falling due after more than one year (37,636) (39,703) =------------------------------------------------------------------------------- NET ASSETS 79,790 79,654 =------------------------------------------------------------------------------- CAPITAL AND RESERVES Called up share capital 10,879 10,879 Share premium account 120,973 120,973 Capital reserve 9,185 9,185 The Rangers Bond 7,736 7,736 Revaluation Reserve 57,489 58,052 Profit & loss account (126,472) (127,171) =------------------------------------------------------------------------------- SHAREHOLDERS' FUNDS 79,790 79,654 =------------------------------------------------------------------------------- The Group's principal accounting policies have remained unchanged from the previous period. The interim results do not constitute accounts within the meaning of s434 of the Companies Act 2006. The financial information in this report for the six months to 31 December 2010 and to 31 December 2009 has not been audited. The directors of The Rangers Football Club plc accept responsibility for this announcement. END

I think this is my favourite OP anywhere on the internet. Ever.

Finally

Evening Times. I know which version I believe.

I have my usual 5 lines on today which are too boring to list but, since Motherwell served me so well last week, I have stuck them in a wee treble for tomorrow with Rangers and Man U that pays 21/10.

There was a guy in the '80's who analysed hundreds of goals and came up with the conclusion that the vast majority came from three touches or less, or something like that. I can't remember his name, think he had a military title. He advocated the long ball game. Emlyn Hughes, I'm almost certain. He was in the charge of the coaching of the FA at one point, I have a book of his upstairs. Don't think it was Emlyn Hughes. The guy wasn't an ex-player as far as I remember. Cant remember the guys name either but it certainly wasnt Emlyn Hughes. Wing Commander Charles Reep.

I put 5 accumulators on today and they all got busted............... I put 1 single on today at 9/1 that more than covered all my other bets........... What game could that have been I wonder?????????? 0000334 Single (To win) 1 DKK 100.00 Celtic vs Motherwell Match betting Motherwell 100.00 DKK 1000.00 <HUGEFUCKOFFSHITEATINGGRINSMILEY> GIRFUY TIMOTHY

Unfortunately the Sky horsey talk was not enough to drown them out......

Villa are getting taught a lesson here; it could be double figures by now.

After today's commentary, I think there can be no doubt that Celtanta's commentators are even more pro-Tim than Motson is pro-England. I had to keep turning the volume down on my computer so I didn't smash anything. I don't understand why Rangers Live can't just use the Rangers World commentary for their broadcasts instead of Provo-sound.

Looks like Gayday has just found another Rangers full back that he cannae get past.

That is an interesting point. Murray ain't usually shy when it comes to big news. What is Bain more directly involved in than Murray? Transfers is certainly one area. Maybe Murray just likes a lie-in on a Sunday.

My day was a bit like yours; I got pumped every which way. I just knew it would suck but I'll try again tomorrow........

This is confusing me on 2 levels: 1 - Why 7am on a Sunday? 2 - Why call the press into the tunnel 20 minutes before a game to tell them something they cannot reveal until the next day? Why not tell them after the game or send an e-mail to the sports editors saying, "Press conference in the morning."? I think it must be much bigger than a ticket issue but I'm an optimist.

Only one thing I can think of: It involves another club or company and they want it to go out at that time.

He was the main reason for going to see Rangers in the early 80s when I first went to the games. The team was complete mince but there was always the chance that Cooper would produce something special. I don't ever remember hearing a complaint about him not winning a header or not tracking back; you wanted him to be going forward with the ball at his feet. The run against Tampere that set up the 3rd goal for Fleck pushed all the buttons for me. The move starts at about 1:25 in the attached vid.

Gers 2-1 FGS: Dailly

Not convinced by much this weekend. I've got 5 lines on today but they are all a bit dodgy. Chester vs Darlington Notts County vs Rochdale Hereford vs Bury Dagenham & Redbridge vs Shrewsbury 13/1 Brighton vs Swindon Luton vs Cheltenham Oldham vs Millwall 13/2 Cardiff vs Bristol City Scunthorpe vs Ipswich Plymouth vs Watford 16/1 Barnsley vs Sheffield Utd Leicester vs Hull Stoke City vs Blackpool 8/1 Aston Villa vs Sunderland Blackburn vs Wigan Newcastle vs Fulham 4/1 I think the line in blue is the best shout for the odds.

That is not a bad shout, I might have a look at that. The only one I would be wary of is Fulham-Everton as Fulham are absolutely rank.

There has been talk of a 16 team league with a return to the old, early season league format of the league cup to add the extra games the smaller teams need to boost their finances. The only issue I would have with a return to a larger league is the fact that although it is reasonably easy to put together a 16 team league that is not of significantly different standard to the one we have now (once Gretna are booted back to oblivion), I am not sure there are enough decent clubs to maintain it. For example, if you lose Gretna but add St Johnstone, Dundee, Hamilton, Partick and maybe Morton; who are you left with that has the potential to be promoted and survive in a 2 up, 2 down system? Maybe only Airdrie, Raith and, possibly, Ross County. However, I am still in favour of it, just pointing out one big pitfall.