glasgowbear

That was in reference to the 2nd installment

Tax total liability could be upwards of £70m, so i would say that is probably 85-90% of our total debt.

The club has been declared insolvent, even with assets its insolvency, ie we cannot meet our financial outgoings every month, Whyte has stated this himself, the club has been running at a loss for the 9 months of his tenure, and that is while retaining 9 months worth of PAYE and NI contributions from players salaries. The ticketus money must have been used as working capital

Listen, lets just go for it in every single game, lets see if the yahoos can deal with being so far in front knowing were chasing them and not giving a fuck now, go for the throats in every single game.

Not totally, the 9m bill obviously contributes to the ongoing problems however the main reason for administration is because the club is running at a loss, and has done in every month of the 9 months Whyte has been in charge.

I actually supported him until i found out he had not paid circa 9m in PAYE and NI since he took over, which leads me to suggest administration was his end game all along. Now i dont have an issue with the administration side of things as such if thats what needs doing given what he inherited, however not to pay NI and PAYE since the takeover is an absolute clusterfuck of a situation given we are already being bent over by HMRC for previous in relation to unpaid tax.

Unless the paperwork did not arrive until after we were officially in administration. Who knows but as mentioned least of our worries.

The embargo is on registrations, not contracts, it could be the administrator has called this off.

This has been long overdue in any case.

If it means the club being restructured to be run properly in a financial sense and a footballing sense then so be it, i am willing to take the hit. If it means Rangers move on and regain their respect as a major club, then again i will take the hit.

A new club would mean no European football for 3 years minimum, in that respect we could be looking at a 5 year minimum rebuilding job of the club from top to bottom.

Yep, as much as administration was probably inevitable so was the feeding frenzy that went with it, however we have long long memories and once we are out of this the same feeding frenzy will be demanded when anyone else is in the same boat.....

They dont want an administrator favoured by Whyte to come in, they want a court appointed administrator

I only just noticed it in his comments on the article and wondered why, if this would have solved the LBG issue at the time, he did not make it public so the support could put pressure on LBG. Strange decision for a bank to make given the £18m was only 3% of the laibilities The Murray Group had with them.

True, so Johnston really has no leg to stand on when it comes to questioning others over integrity.

Johnston responded: "The Rangers board had alternatives that they were working on which both the bank and Murray International did not like. "I have all the files, all the presentations I made to the bank and I will one day produce them. The amount of money that Rangers was about 3% of the total debt that Lloyds had with Murray International. "All we wanted them to do was to migrate that debt into the Murray balance sheet. Why the bank wouldn't do that, to avoid all the negative publicity, I still don't know. The paragraph in bold, why did he not make this public knowledge so that the support could put pressure on Lloyds Banking Group to integrate the £18m debt into the Murray Group balance sheet, had this been made public I think the supporters pressure would have paid off.

The EBTs started in 2000/2001, not the 90s as mentioned in the poorly researched article. Rangers had at least £10m in the bank when Smith left in 1998. The problems started when Advocaat demanded mega money for players and a training ground.

the rebel no longer has an early edition either, it got chopped as part of the cuts last year

the thing that confuses me is who would lend rangers that amount of money?? given our recent history and also the tax thing hanging over us?

apologies, typing error, im on various sites and my phone at the same time.

someone on FF went to get it back of 10, was told it was not due in till 1am

by my reckong 21m x 3 = 43m thing is, whyte stated in an article in june last year he would not mortgage against future season ticket monies, we also got 16m from uefa in september and then the 10m of working capital he said he pumped in. i dunno anymore, you cant seem to get an honest answer on the colour of shite from anyone at rangers anymore.

Other than some yahoos being banned and generally talking shite the rumours so far from this apparent daily rebel 5,6,7 or 8 page job on rangers are that whyte has mortgaged 3 years season ticket money at over 40m, there will be polis at ibrox on wednesday for some sort of announcement and that whyte has done a bunk to spain. other than that not much! one of their admin has also said some of the story was chopped by the records lawyers.

FF is in absolute meltdown, 1000 plus on the thread.

good player he is mark walters he is not !