Guardian 4,281 Posted February 17, 2012 Share Posted February 17, 2012 If it was paid through Rangers accounts and HMRC got wind, is it not likely they would have followed others and had a court ring-fence it ?I'm hoping the intention was to keep it out of their grasp.I can't see Whyte making off with it as he would be extradited to Bar-L.I have no idea of his intentions, but as someone said earlier, he does appear to be making an unsellable club into a sellable one.He's never said it would be easy, but we appear to be going in the right direction.Paul Murray & AJ seem very keen to elbow him out. Looks like they can see a profit in Rangers after the admin.If Whyte turns out not to be a crook, and sells to a wealthy owner(s) it will be party time down Ibrox way.Don't Stop Believin' Quote Link to post Share on other sites More sharing options...
Thermopylae 15,287 Posted February 17, 2012 Share Posted February 17, 2012 This is it we just don't know ... unfotunately by the time there is no doubt that he's a shyster it will probably be too late as far as the money is concerned Quote Link to post Share on other sites More sharing options...
GMac 1,405 Posted February 17, 2012 Share Posted February 17, 2012 It never went through Rangers books according to the administrators. Could that give us a lifeline? Quote Link to post Share on other sites More sharing options...
Colonel Mustard 380 Posted February 17, 2012 Share Posted February 17, 2012 It never went through Rangers books according to the administrators. Could that give us a lifeline?If Ticketus paid it to someone other than Rangers, who is "at fault", and what does it mean? Quote Link to post Share on other sites More sharing options...
JM1872 3,776 Posted February 17, 2012 Share Posted February 17, 2012 Correct me if I'm wrong, but didn't Whyte say it was totally 100% underwritten by one of his companies?Referring to either the debt or the loan itself, or mortgage rather, what does this actually mean and may it explain why it's not in our accounts? Quote Link to post Share on other sites More sharing options...
BRITNEY IS NOT FEELING IT 8,293 Posted February 17, 2012 Share Posted February 17, 2012 If the Ticketus money to cw was unsecured , I think someone else along with cw is also in the shit , even if it resurfaces or not Quote Link to post Share on other sites More sharing options...
jimatcaledonia 32 Posted February 17, 2012 Share Posted February 17, 2012 The Ticketus debt is underwritten by a company owned by CW.This is not a Rangers debt.Where the £20M went, only the administrators will know.The only reason that we are here is that the HMRC has squeezed the life out of our club, because they cannot prove their case.The EBT Scheme was legal, it is a paperwork issue.But we have protected our assets and regardless of the HMRC outcome, we will be safe.Do not believe the MHedia Quote Link to post Share on other sites More sharing options...
GMac 1,405 Posted February 17, 2012 Share Posted February 17, 2012 If Ticketus paid it to someone other than Rangers, who is "at fault", and what does it mean?Does it mean if Rangers were in admin come season ticket time then we can tell Ticketus to fuck off. They can take it up with Whyte. I honestly don't know, but the administrators were quick in telling everyone there was no trace of the money. I was surprised how open they were. Quote Link to post Share on other sites More sharing options...
Colonel Mustard 380 Posted February 17, 2012 Share Posted February 17, 2012 Does it mean if Rangers were in admin come season ticket time then we can tell Ticketus to fuck off. They can take it up with Whyte. I honestly don't know, but the administrators were quick in telling everyone there was no trace of the money. I was surprised how open they were.So who is at fault for that? Why did Ticketus not make the cheque out to Rangers? Then it would show. Quote Link to post Share on other sites More sharing options...
GMac 1,405 Posted February 17, 2012 Share Posted February 17, 2012 So who is at fault for that? Why did Ticketus not make the cheque out to Rangers? Then it would show.I don't know. Why would Ticketus give a loan to a football team thats about to be made insolvent? Maybe no money has actually changed hands and Ticketus and Whyte are working a scam, taking £6 million from Rangers every year for the next four years and splitting the cash. The whole thing stinks anyway. Quote Link to post Share on other sites More sharing options...
Colonel Mustard 380 Posted February 17, 2012 Share Posted February 17, 2012 I don't know. Why would Ticketus give a loan to a football team thats about to be made insolvent? Maybe no money has actually changed hands and Ticketus and Whyte are working a scam, taking £6 million from Rangers every year for the next four years and splitting the cash. The whole thing stinks anyway.Aye, it sounds like no one could ever suss that scam out. In what way could they both arrange to do that without anyone ending up in jail? Quote Link to post Share on other sites More sharing options...
Stardog 11 Posted February 17, 2012 Share Posted February 17, 2012 Was the Ticketus money a short-term loan to prove he had the funds? Johnston said Ticketus was for short-term loans. What if he paid them back straight after taking control? Quote Link to post Share on other sites More sharing options...
GMac 1,405 Posted February 17, 2012 Share Posted February 17, 2012 Aye, it sounds like no one could ever suss that scam out. In what way could they both arrange to do that without anyone ending up in jail? Yeah you're right. Watching McGlone and Kelly tonight has dulled the senses:D Quote Link to post Share on other sites More sharing options...
nvager 498 Posted February 17, 2012 Share Posted February 17, 2012 The Ticketus money was given on the basis of future Rangers season ticket sales. If they are going to be done out of that money it does NOT reflect well on CW and Rangers. CW is/was Rangers at that time. The money went to his company. Also not paying PAYE and VAT does not reflect well on CW and Rangers and is the immediate cause of the administration.Whether we survive ok or not this is not the way to do business. CW has a lot to answer for. (As does SDM)It should be interesting to see whether he ends up in jail or not. (Is it not fraud to do what he might have done to Ticketus?) Surely Ticketus has some security against a sum like 24m?In any event should be an interesting month or two. Quote Link to post Share on other sites More sharing options...
Thermopylae 15,287 Posted February 17, 2012 Share Posted February 17, 2012 The Ticketus debt is underwritten by a company owned by CW.This is not a Rangers debt.Where the £20M went, only the administrators will know.The only reason that we are here is that the HMRC has squeezed the life out of our club, because they cannot prove their case.The EBT Scheme was legal, it is a paperwork issue.But we have protected our assets and regardless of the HMRC outcome, we will be safe.Do not believe the MHediaThe problem is years ago we were told that the debt wasn't a Rangers debt it was a Murray debt Quote Link to post Share on other sites More sharing options...
Wee CJ 56 Posted February 17, 2012 Share Posted February 17, 2012 I maybe think Whyte put it into an offshore accound under one of his companies names outwith Rangers. At this point in time, maybe for his own good or maybe for a future investment after admin. Who knows?! Maybe it'll be answered within the next few weeks. Quote Link to post Share on other sites More sharing options...
Zappa 358 Posted February 17, 2012 Share Posted February 17, 2012 The administrators will need to get to the bottom of this issue one way or another because £24m doesn't just go missing. Quote Link to post Share on other sites More sharing options...
Thermopylae 15,287 Posted February 17, 2012 Share Posted February 17, 2012 I just hope Whyte isn't a 21st century ronnie biggs Quote Link to post Share on other sites More sharing options...
Ozblue 4,332 Posted February 17, 2012 Share Posted February 17, 2012 I just hope Whyte isn't a 21st century ronnie biggs Ronnie Biggs = The Great Train Robber ...Craig Whyte = The Gravy Train Robber ? I'm not the sharpest knife in the cutlery drawer when it comes to financial dealings,Thermo, but to me Whyte is about as legit as a three pound note ...BUT he has to be a genius, because if he is at the con of the century then he has bamboozled SDM and his legal people....He has bamboozled the legal eagles of LBG and he has bamboozled the legal guys at Ticketus...So if he is the biggest clown in the circus, as some think he is, what does that make all these other financial and and legal wizards? Quote Link to post Share on other sites More sharing options...
CoopersLeftBoot 4 Posted February 17, 2012 Share Posted February 17, 2012 Ok my take is, whatever Whyte is, he isn't stupid. He's known from the start administrators would be in so it would be suicide to embezzle any cash. Rather, I think he has borrowed the money from one of his other companies & loaned it to the Rangers entity he set up to buy the club. He then used the Ticketus cash to repay the original debt and leaving the Rangers entity owed money by the club. Crucially, this debt is secured meaning he is in the driving seat for any CVA or insolvency event.I think he will be gone shortly, leaving chaos behind but more importantly a revitalised RFC. Plus a couple of million for his troubles. Still doesn't explain AJs role, however, you'd think he'd be happy to see this played out & RFC back on its feet. Quote Link to post Share on other sites More sharing options...
WWTC 2,257 Posted February 17, 2012 Share Posted February 17, 2012 We've been told that the ticketus money is unsecured debt. Yes, unsecured against rangers, whyte himself said it had been underwritten by one of his companies, just not rangers. How might that play out then? Quote Link to post Share on other sites More sharing options...
Jack The Flipper 5,936 Posted February 17, 2012 Share Posted February 17, 2012 We've been told that the ticketus money is unsecured debt. Yes, unsecured against rangers, whyte himself said it had been underwritten by one of his companies, just not rangers. How might that play out then?It is not Rangers's liability, therefore it is nothing to do with us. It's almost exactly like you owning a company and taking a personal loan out, it hasn't gone through the companies books, therefore it is you and only you who is liable to pay back the loan.That is the information we have been given just now, but I doubt this is the end of this. It's all very strange. How could ticketus be so stupid as to supply another company with a loan for an unconnected company's future revenue? To put it slightly less explicit than i would like to - someone is telling someone some big feckin fibs with bells on. Quote Link to post Share on other sites More sharing options...
ScottBF2 3,540 Posted February 17, 2012 Share Posted February 17, 2012 Ortiz took it guys! He picked up the money and walked back to Almeria with it. Bloody scammer! Quote Link to post Share on other sites More sharing options...
Jack The Flipper 5,936 Posted February 17, 2012 Share Posted February 17, 2012 Ortiz took it guys! He picked up the money and walked back to Almeria with it. Bloody scammer!Ahhhhh, I thought I saw him getting off an easy jet plane with a bulging suitcase. I just thought it was filled with fags and booze! Quote Link to post Share on other sites More sharing options...
ScottBF2 3,540 Posted February 17, 2012 Share Posted February 17, 2012 Ahhhhh, I thought I saw him getting off an easy jet plane with a bulging suitcase. I just thought it was filled with fags and booze!Never trust a Spaniard. Quote Link to post Share on other sites More sharing options...
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