californiadreamin52 339 Posted February 21, 2012 Share Posted February 21, 2012 Do we boycott the administrators now Just to subtle Quote Link to post Share on other sites More sharing options...
MrSifter 181 Posted February 21, 2012 Share Posted February 21, 2012 Of course perhaps his interpretation of "used" and "undewritten" will be his defence.Which is a fair enough interpretation.Is this much different to the way the Glazers bought Manchester United?Whyte is obviously a chancer but let's just see where the administration takes us and how things lie at the end of that process. Quote Link to post Share on other sites More sharing options...
Shuggy 1,308 Posted February 21, 2012 Share Posted February 21, 2012 The problem is £18M of future season ticket revenue has gone. How is the club going to run its daily affairs with a fraction of its revenue?ShuggyHmmm, Ticketus take £20M out from 3/4 years ST sales, so £5M-£6M has disappeared from revenues of say £40M-£50M, a drop of over 10% on top of a shortfall of £10M per annum making it a new potential shortfall of £15M-£16M. Shuggy Quote Link to post Share on other sites More sharing options...
dan_ger 1,454 Posted February 21, 2012 Share Posted February 21, 2012 The problem is £18M of future season ticket revenue has gone. How is the club going to run its daily affairs with a fraction of its revenue?Shuggy*puts tin hat on*I posted this in the CW statement thread. It is all down to who the Ticketus money is secured against. I don't think we can be liable, it just doesn't make sense from a Ticketus point of view......Ticketus buy season tickets at a cut price and then make a profit on them when they are sold on. Like any business that buys and sells a commodity they only care about getting their money back, with the profit they are promised. If that is underwritten by CW, through another company, then that is all Ticketus care about. The fact that they can get their money back in full through CW is the only way they would release such an amount of money before the club was purchased. I am not sticking up for CW here, I am saying that there is no way a company like Ticketus would release money to someone with having guarantees that they would get it back. Especially when the company had not yet. been acquired. It doesn't appear that Rangers owe ticketus anything, Tickets or money. That was my point. Quote Link to post Share on other sites More sharing options...
marmalade1872 40 Posted February 21, 2012 Share Posted February 21, 2012 I see a few law suits about to follow.i think the wee billionaire has only got the one suit that fuckin light gray faded pinstripe thats to tight for him and the zip dosent fasten right billionaire my arse Quote Link to post Share on other sites More sharing options...
Davey_RFC 122 Posted February 21, 2012 Share Posted February 21, 2012 Unbelievable. I was willing to give him the benefit of the doubt and wait to see what shape we're in after administration.It's now clear he's consistently lied to the supporters and that is something I can never forgive.An absolute charlatan who has used the supporters' money to buy our club- disgusting. Quote Link to post Share on other sites More sharing options...
Brubear 2,924 Posted February 21, 2012 Share Posted February 21, 2012 So that confirms it. However it will remain to be seen what security over our tickets that Ticketus actually have. If Whyte is to be believed they don't have any. Unfortunately those are the key words. Quote Link to post Share on other sites More sharing options...
cstamomusa 3,811 Posted February 21, 2012 Share Posted February 21, 2012 i think the wee billionaire has only got the one suit that fuckin light gray faded pinstripe thats to tight for him and the zip dosent fasten right billionaire my arseWhy are you looking at his zipper? Quote Link to post Share on other sites More sharing options...
Spectre 1,663 Posted February 21, 2012 Share Posted February 21, 2012 So that confirms it. However it will remain to be seen what security over our tickets that Ticketus actually have. If Whyte is to be believed they don't have any. If ticketus are to be believed they don't need any, they say the transaction was a simple purchase of future season tickets not a loan so they'd say the deal is done already and they own the assets. Quote Link to post Share on other sites More sharing options...
loyalandtrueblue 69 Posted February 21, 2012 Share Posted February 21, 2012 I am shocked and stunned at all of this!What i can't understand is how did he prove he had the money and funds to SDM to buy the club?How does this now stand with the purchase of the club?Did he actually own the club or has he defaulted on the terms of the agreement and Murray is still the owner?I really hope not as he must have known this was the state of play all along!What will happen to LLoyds bank in their dealings in all of this?Everyday when something new is flagged up it poses even more questions than answers? Quote Link to post Share on other sites More sharing options...
marmalade1872 40 Posted February 21, 2012 Share Posted February 21, 2012 the secutity for his deal it must be the ground;murray park;albion car park Quote Link to post Share on other sites More sharing options...
Hutchy WATP 462 Posted February 21, 2012 Share Posted February 21, 2012 We got a source for this statement? Quote Link to post Share on other sites More sharing options...
Clemdog 39,389 Posted February 21, 2012 Share Posted February 21, 2012 We got a source for this statement?The Rangers website. Quote Link to post Share on other sites More sharing options...
southcoastbear 1,639 Posted February 21, 2012 Share Posted February 21, 2012 Bollox, knew he was at it form the start but hoped I was wrong. Just got a horrible feeling there is more to come.but how the hell did he borrow money against rangers season tickets if he didn't own the club and how did he persuade lloyds he had the money. Well dodgy all concerned. Quote Link to post Share on other sites More sharing options...
jimmyblue75 20 Posted February 21, 2012 Share Posted February 21, 2012 and murray and Lloyds both fucking knew it....wankers Quote Link to post Share on other sites More sharing options...
marmalade1872 40 Posted February 21, 2012 Share Posted February 21, 2012 Why are you looking at his zipper? iam a buttons man Quote Link to post Share on other sites More sharing options...
Hutchy WATP 462 Posted February 21, 2012 Share Posted February 21, 2012 The Rangers website.cheers mate Quote Link to post Share on other sites More sharing options...
Ger for life 199 Posted February 21, 2012 Share Posted February 21, 2012 If ticketus are to be believed they don't need any, they say the transaction was a simple purchase of future season tickets not a loan so they'd say the deal is done already and they own the assets.But what would happen in the event that no-one buys a season ticket? How would Ticketus recoup their outlayed cash? Ticketus must surely have insisted on some security being attached to this transaction to protect them against such a scenario.My worry is what that security is likely to have been. Quote Link to post Share on other sites More sharing options...
AlCapone 7,678 Posted February 21, 2012 Share Posted February 21, 2012 I heard from an ex player a couple of weeks ago that Whytes ex wife was a director of Ticketus.... not sure I believe it though. Quote Link to post Share on other sites More sharing options...
davie_bluenose 20 Posted February 21, 2012 Share Posted February 21, 2012 But what would happen in the event that no-one buys a season ticket? How would Ticketus recoup their outlayed cash? Ticketus must surely have insisted on some security being attached to this transaction to protect them against such a scenario.My worry is what that security is likely to have been.If nobody bought them they probably would have been secured against matchday tickets or something else Quote Link to post Share on other sites More sharing options...
2daludaludalu 390 Posted February 21, 2012 Share Posted February 21, 2012 This is like the fawlty towers episode with the conman and the briefcase full of valuables, which turns out to be a couple of bricks, and we the Rangers support have believed whtye the same way basil believed the conman, but basil had the last laugh and sent him packing and got his money back. Here's hoping the same happens with us. Quote Link to post Share on other sites More sharing options...
weeblu 0 Posted February 21, 2012 Share Posted February 21, 2012 Unbelievable. I was willing to give him the benefit of the doubt and wait to see what shape we're in after administration.It's now clear he's consistently lied to the supporters and that is something I can never forgive.An absolute charlatan who has used the supporters' money to buy our club- disgusting.Same here, feel sick at this moment in time. Quote Link to post Share on other sites More sharing options...
Brubear 2,924 Posted February 21, 2012 Share Posted February 21, 2012 Exactly why I think Mr Murry was in on this, "Just show me a letter that I can show LTSB so I can prove they will get their money back"Murray didn't need to be in on it. Ticketus would put up cash in an Escrow account with Whyte's solicitors which still gives them legal title to it if the Rangers purchase by Whyte doesn't happen. Whyte then uses this bank statement to convince SDM he has sufficient funds to buy Rangers. The deal goes through and he uses these funds to pay off HBoS. The loan has effectively transferred from HBoS to Ticketus and I hate to say probably with future ticket sales as collateral, despite whyte's denial. Now whether they can enforce that now we are in administration is a different thing altogether. Quote Link to post Share on other sites More sharing options...
jonbryce 63 Posted February 21, 2012 Share Posted February 21, 2012 Bottom line: CW has put fuck all into the club. Bottom line, CW took £6m out of the club. I don't know if the £4m VAT on Ticketus money is part of, or in addition to the £9m tax claim that put the club in administration. Quote Link to post Share on other sites More sharing options...
Mikhailichenko 90 Posted February 21, 2012 Share Posted February 21, 2012 If ticketus are to be believed they don't need any, they say the transaction was a simple purchase of future season tickets not a loan so they'd say the deal is done already and they own the assets.So the simple answer is that we don't sell season tickets. Sounds too good to be true. Quote Link to post Share on other sites More sharing options...
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