The official "Takeover Completed" thread

[WWTC 2,250]

I'm already aware of this.

The scary thing is though, some people on here say they won't be renewing season tickets etc and without a takeover going through that will give Ally even less money! Its obvious without a t/o things will be gloomy next year, if Lloyds go with their £1m wage cuts.

If it does't go through, we will definitely see who the real supporters of Rangers are.

Well said sir

[RFC55 110,177]

we need an answer from rangers now

[bombaybadboy08 15,660]

so we would need to sell our assets.best players?murray park?ibrox?thats about all the assets i can think of

So we would go under?No.

I'm sure the supporters wouldn't let it happen either,I'm not exactly minted the now but I'd donate what I could to stop my club going under.

[minnbear 30]

Mind this isn't the team you're talking to mate,I don't think we need to be focused for tomorrow as we're not exactly playing.

Cheers for sharing Frankie.

The way things seem to be going over at Fawlty Towers, next season some of us might be.

[WWTC 2,250]

The independent committee was set up to examine the credentials of potential buyers and includes the club chairman, Alastair Johnston and chief executive Martin Bain, as well as John McClelland, Donald McIntyre and former player and manager John Greig.

While it has no power to broker or scupper any deal, Whyte does not wish to take over a club with a hostile board.

If he were to conclude a takeover, he would install his own board.

However, BBC Scotland understands he does not want to spend time on the process required to remove a hostile board.

[BazzaB 8]

It's cool lads, 'Frankie' has his sources. This must be bullshit.

Will be glad when this whole fiasco is finally over and done with. Bit mystified by this from the BBC though:

While it has no power to broker or scupper any deal, Whyte does not wish to take over a club with a hostile board.

If he were to conclude a takeover, he would install his own board.

However, BBC Scotland understands he does not want to spend time on the process required to remove a hostile board.

He doesn't want to take over the club with a hostile board. But they're getting replaced anyway. But he doesn't want to spend the time to replace them... eh?

Surely if he was serious about buying the club, he'd just get in there and remove them no?

[bombaybadboy08 15,660]

If the tax bill is at bad as it's to be believed, we'll not be able to take the hit. Administration is a real possibility. As for MIH being believed to take the blow, they are in as much trouble as we are.

Here's an article you may find of interest,

This is Arsenal and I'm sure you will agree we would be nowhere near their bill.

ARSENAL football club has been hit with a bill of nearly £12m after an investigation into a tax dodge used on payments made to players and agents. The north London club is set to be the first high-profile victim of a campaign by HM Revenue and Customs (HMRC) against tax avoidance in the game.

Arsenal set up a series of front companies and offshore trusts to reward its stars and save millions in tax every year. On average, players were left paying about half the 40% tax rate for high earners.

The scheme, revealed in The Sunday Times last year, is now considered illegal by HMRC, which is demanding at least £11m back tax.

Payments of more than £4m to agents have also been ruled not to be an “acceptable business expense”. Arsenal must pay an extra £700,000 Vat on these.

Premiership sources fear that the actions by HMRC — a merger of the former Inland Revenue and Customs — will make it harder to attract top foreign players to Britain when they can still benefit from tax-free payments abroad.

Thierry Henry, Arsenal’s star striker, has disclosed that he will not begin negotiations for a new contract until next summer, prompting fears he will quit England.

Peter Hill-Wood, the Arsenal chairman, said: “The Revenue are crawling all over us. We thought we acted perfectly legally . . . but now maybe the rules have changed. We are not the only people who have been doing this. It’s obviously not helpful [in retaining the services of top foreign players].”

The club’s tax dodge was revealed in documents detailing the divorce case of Ray Parlour, a former Arsenal midfield player, who was forced to disclose his salary details to the courts. It showed he earned a pre-tax package of £1,557,267 for the 2001-2 season on which he paid £350,000 tax, a rate of just 22%.

In its forthcoming annual report, Arsenal will detail the £11m it has put aside to cover the payments. Hill-Wood said he believed HMRC was also investigating individual players. It is not clear if the club may be forced to pay any extra tax they owe to stop an exodus of its stars.

It is understood the tax investigation has been discussed by Premiership clubs, which are considering whether to make formal representations to the Treasury. A spokesman for the league said he was aware the Revenue had been probing Vat relief on agents’ fees and tax savings on players’ wages.

Top Arsenal players usually sign two contracts. The first pays them an annual basic wage mostly taxed at the higher rate of 40% plus National Insurance.

However, they also have a second “shadow” contract for performance-related bonuses that reward success on the field. These can account for up to half the total pay package and are paid via two offshore front companies that accountants say enables foreign players to avoid almost all tax.

As a result, Henry is estimated to have saved almost £70,000 a year, Arsene Wenger, the manager, about £118,000 annually, and Dennis Bergkamp more than £45,000. British-born players were able to cut their tax rate from 40% to 25%.

Middlesbrough and Leeds United have also previously used employee-benefit trusts to reward players.

http://www.timesonline.co.uk/tol/news/uk/article576436.ece

[KingKirk 25,811]

If whyte puts down a deadline I wonder how quickly AJ will get his arse back across here

[BlueMe 25,327]

it goes from one extreme to the next on here

it's rather amusing

[RFC55 110,177]

What does the part mean, he doesnt want to spend the time removing a hostile board? what a shambles we are

[Guardian 4,281]

What I said about not renewing was only if the takeover does not go through.

If it doesn't, we're heading for administration and the bank or HMRC will claim any money put in.

I don't think some understand the ramifications of us going into administration.

There won't be a recognisable Rangers left to support if that happens.

If it really is the board putting this off they should be sent packing.

[dado1 23]

The independent committee was set up to examine the credentials of potential buyers and includes the club chairman, Alastair Johnston and chief executive Martin Bain, as well as John McClelland, Donald McIntyre and former player and manager John Greig.

While it has no power to broker or scupper any deal, Whyte does not wish to take over a club with a hostile board.

If he were to conclude a takeover, he would install his own board.

However, BBC Scotland understands he does not want to spend time on the process required to remove a hostile board.

why cant these pricks on the board not just get behind him so much for the meeting they all had that went well.we have been getting fucked about so much by these arseholes they need to give us answers

[dado1 23]

sack the board

[RFC55 110,177]

Can shareholders not vote board members on or off? thats just a question btw

[JM1872 3,772]

A ST doesn't make you a great supporter, despite what the suits say.

No no, what I mean is how many people are a season ticket holder just cause their guaranteed success? well, almost.

How many would we still see at Ibrox if we became nothing more than a 3rd/4th, possibly even 5th depending on how bad things get, placed side in the SPL? If things carry on the way there going just now, with no takeover etc, and if we are found liable for a hefty sum then that could be the way we are heading. There is no denying that.

[Amac9 2,060]

I was never confident of this going through in the first place and I'm even less confident now.

IMO it is only a matter of time before Craig Whyte walks away and the deal's off. If that is the case then God help Ally McCoist next season.

[GeneralCartmanLee 313]

Can shareholders not vote board members on or off? thats just a question btw

Who you wanting to vote off and why ?

Paul murray and co tried the trick of driving down the price of rangers but they still couldn't afford to buy us but i don't think that is what is happening here. Not sure who you think, from the "independent" commitee is interested, or has the means, to buy us even if the price was driven down....

[BlueMe 25,327]

What I said about not renewing was only if the takeover does not go through.

If it doesn't, we're heading for administration and the bank or HMRC will claim any money put in.

I don't think some understand the ramifications of us going into administration.

There won't be a recognisable Rangers left to support if that happens.

If it really is the board putting this off they should be sent packing.

the board know all the in's and out's of the deal

all we have is mhedia speculation,'sources' and pure guesswork?

patience is a virtue...

[BRITNEY IS NOT FEELING IT 8,293]

It would not surprise me if another bid came in from somewhere else that the board take a better liking to and whyte walks , mind you nothing in this debacle surprises us all anymore

[blueben_d 40]

Can't fucking believe they're holding it up, why us that? So they can stay in a job a few weeks more? Gtf the lot of them!

As for whyte if you've nit got the stomach to stand up to them I'll not be holding out a lot of hope for you standing up to McBride, liewell, spiers, UEFA and fucking FARE.

I'm angry, can you tell?

[Guardian 4,281]

If this is true, there must be a connection between the tribunal restarting today and the sudden delay of the takeover.

It looks like Whyte (or Rangers) were expecting HMRC to drop the case and got a shock.

I can't help but think they are going to drag this out til the case is settled.

All seems to make sense.

[GeneralCartmanLee 313]

A ST doesn't make you a great supporter, despite what the suits say.

Neither does going to away games in europe, despite what the non suits say.....

[Lisburn Rangers 254]

is the board holding out for there end of season bonus b4 whyte changes it all ?

[SirWalterSmithLegend 206]

Time to hit the car park, Murray, Bain and the board have been taking fans for mugs. Our club are a disgrace and our fans are just as bad putting up with their shite.

Shambolic state of affairs, a laughing stock, its little wonder its open season on the Rangers.

[chris182 6,366]

Gutted

IF this is true it makes absolutely no sense. For the committee to wait until pre-season for discussions to start again would mean that the club would be in a worse situation than it currently is, with regards to players out of contract and so on, especially if we fail to win the league. Something ain't right but this simply could be Murray/Whyte attempting to hurry the process along?

One thing that is clear - this team needs investment and fast. PLEASE just get the bloody thing done!