krissg910 110 Posted April 5, 2012 Share Posted April 5, 2012 so if we lose the btc(badly) the debt will be 100mil thats what i reckoned.with a cva of around 15-20p in the £ agreed(hopefully) = 20 mil which is what i knew the price of the club would be.the plus side is the admin have ripped up the ticketus deal and made them a creditor taking away the handicap of not getting our full st income.if we were to win the btc and took ticketus to court and won we really would only have around 20mill debt. however taking ticketus through the courts we be the wrong move as it could run on for months/yrs and would 100% take us to liquidation.i know it seems monsterous level of debts but its not any worse than i expected and a cva should be achievable Quote Link to post Share on other sites More sharing options...
allanh91 75 Posted April 5, 2012 Share Posted April 5, 2012 And we re told Paul Murray is the man to save us? Not one of the old regime should be allowed back. What a fucking mess.Where has our money gone?The old debts don't really amount to much here. That's the BTC and STC really.14m + 27m = Whyte ALONE.Outstanding football fees is typical for football clubs. Quote Link to post Share on other sites More sharing options...
RossS1873 1,656 Posted April 5, 2012 Share Posted April 5, 2012 In the documentation it says there is a smaller tax case resulting from paymets to Ronald de Boer and Tore Andre Flo! Quote Link to post Share on other sites More sharing options...
will_1974 204 Posted April 5, 2012 Share Posted April 5, 2012 Whyte needs to be locked up. I get more angry every time I hear his name. He has deliberately ran up debt and swiped cash in the hope of liquidation. The serious fraud squad need to speak to him. Quote Link to post Share on other sites More sharing options...
allanh91 75 Posted April 5, 2012 Share Posted April 5, 2012 Whyte needs to be locked up. I get more angry every time I hear his name. He has deliberately ran up debt and swiped cash in the hope of liquidation. The serious fraud squad need to speak to him.What gets me is nobody knew he was doing any of this. Why should it be our responsibility when the prick was forced upon us and then kept everything quiet.Arse. Quote Link to post Share on other sites More sharing options...
WilliamMunny 3,234 Posted April 5, 2012 Share Posted April 5, 2012 http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17628749Rangers' administrators estimate that the club's total debts could top £134m.The figure is revealed in the administrator's report to creditors published on the club's website.A total of more than £93m is being claimed by HM Revenue and Customs, relating to the so-called big and small tax cases, and unpaid VAT and PAYE.The report also reveals Rangers owe cash to other football clubs including Celtic, Hearts, Dundee United, Manchester City and Arsenal. Quote Link to post Share on other sites More sharing options...
Arfuf Phuxache 190 Posted April 5, 2012 Share Posted April 5, 2012 think I'll become an insolvency expertMike Farrell@mikefstvReplyRetweetFavorite· OpenRangers administrators accumulated £1.1m in time costs until March 31. Rangers have earned just over £1m in same timeand they'll drag the sale out until they can squeeze more money out of the club.lousy fuckers Quote Link to post Share on other sites More sharing options...
will_1974 204 Posted April 5, 2012 Share Posted April 5, 2012 What gets me is nobody knew he was doing any of this. Why should it be our responsibility when the prick was forced upon us and then kept everything quiet.Arse.It's harsh when the club suffers because of the actions of this man. He really must be crazy. The police have effectively given him an Osman warning yet he still sticks two fingers up and says give me 30 mil Quote Link to post Share on other sites More sharing options...
DaddySpook 168 Posted April 5, 2012 Share Posted April 5, 2012 £55 million? fuck that,just dini answer the door. Quote Link to post Share on other sites More sharing options...
Johnny Dangerously 7,562 Posted April 5, 2012 Share Posted April 5, 2012 Bollox ! I was in a great mood until about 5 minutes ago. Quote Link to post Share on other sites More sharing options...
SwallowsHisOwnSpunk 7,798 Posted April 5, 2012 Share Posted April 5, 2012 Rangers owe more than £3.3m to other football clubs, a document released by administrators Duff and Phelps has revealed.A host of sides, both from Scotland and abroad, are owed sums relating predominantly to transfer fees incurred in recent years.At home, £1,029,494 is owed to other Scottish clubs. Celtic, Dundee United, Dunfermline Athletic, Hearts and Inverness Caledonian Thistle are all creditors.A further £2,322,643 is still overdue to foreign-based sides. Arsenal, Chelsea, Manchester City, Orebro, Rapid Vienna, St Etienne and Palermo are all due money.The publication by Duff and Phelps also shows Rangers are owed £3.8m from other football clubs "in respect of deferred transfer fees which fall due over a period of time up to May 31, 2014".The fuck is that all about how do we owe money to those SPL clubs we payed Dunfermline back and I can understand Hearts i.e Lee Wallace money but we haven't signed anyone from the other SPL clubs.I presume Man City is for DaMarcus Beasley or a loan fee for Weiss (can we not just ask them to forfeit the money as if they need it lol)I presume Arsenal is a loan fee for BartleyChelsea must be Tore Andre Flo I can't think of anyone else we have signed from themRapid Vienna for JelavicSt Etienne for BocanegraPalermo for GoianWhy the fuck don't we pay our fees either upfront or within a year to make sure we don't build up debts like that. Quote Link to post Share on other sites More sharing options...
Senna 735 Posted April 5, 2012 Share Posted April 5, 2012 The fuck is that all about how do we owe money to those SPL clubs we payed Dunfermline back and I can understand Hearts i.e Lee Wallace money but we haven't signed anyone from the other SPL clubs.I presume Man City is for DaMarcus Beasley or a loan fee for Weiss (can we not just ask them to forfeit the money as if they need it lol)I presume Arsenal is a loan fee for BartleyChelsea must be Tore Andre Flo I can't think of anyone else we have signed from themRapid Vienna for JelavicSt Etienne for BocanegraPalermo for GoianWhy the fuck don't we pay our fees either upfront or within a year to make sure we don't build up debts like that.The money we owe clubs, domestic and abroad, we're owed that and a little more from other clubs, so those two in effect cancel each other out. Quote Link to post Share on other sites More sharing options...
pcbear 10,913 Posted April 5, 2012 Share Posted April 5, 2012 Thats some feckin list of debt there, someone has their work cut out to get all that lot boxed into a cva agreement. Quote Link to post Share on other sites More sharing options...
Gazzalivesforever 1,987 Posted April 5, 2012 Share Posted April 5, 2012 Man City are due money for the Norwegian twins. One of which struggles to get a place in th u19 squad. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 5, 2012 Share Posted April 5, 2012 "HM Revenue & Customs – Excluding Big and Small Tax Cases 14,372,042"How do we owe them that ON TOP of the two tax cases? BizarreUnpaid VAT and PAYE ... those items are not part of the two cases. Quote Link to post Share on other sites More sharing options...
Yata 161 Posted April 5, 2012 Share Posted April 5, 2012 Man City are due money for the Norwegian twins. One of which struggles to get a place in th u19 squad.I really love our scouting and youth system right now Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 5, 2012 Share Posted April 5, 2012 Wouldn't debentures only come into play in the event of liquidation? Thought they just guaranteed the right purchase a given seat for a set period of time. But, with the debenture holders holding circa £8 million of debt if they banded together then they could arguably become a powerful voice. Quote Link to post Share on other sites More sharing options...
nelsonRFC82 305 Posted April 5, 2012 Share Posted April 5, 2012 Where the fuck has £55 Million come from and that's definetley not just Whytes doing what the fuck was Murray doing before.Well £26.7m is to Ticketus and £14m is to HMRC (excluding the big and small tax cases) so yeah pretty much is Whyte's doing! Quote Link to post Share on other sites More sharing options...
Gibby10 10 Posted April 5, 2012 Share Posted April 5, 2012 This just gives me the heeve. It's just not the Rangers way !!! Pay wurr bills man !!! previous board members have acting like rattlers ! Quote Link to post Share on other sites More sharing options...
TannochsideBear 355 Posted April 5, 2012 Share Posted April 5, 2012 Thats not too bad.Given that Ticketus are either going to deal with TBK or get stuffed in lengthy court action, we can safely rule that money out of the equation.We can rule out the debentures as this wont need to be paid.The money owed to other clubs is covered by the money owed to us by other clubs, so nothing to worry about there.That leaves your general day to day creditors and the tax man. HMRC are saying (privately) that they wont be difficult to deal with, even if they get a 100% win in the BTC which is very unlikely.I can see absolutely no reason why a CVA cannot be reached with these creditors getting a reasonable deal that they wont turn down.The outrageous part of it, as expected is that D&P have earned about £1.2M already. The 2 partners (assuming they havent pulled in more partners to work on the gravy train, sorry case) must be working (or billing) around 70 hours per week to have got their part of this fee to the level it is at.A company (us) trading at around £40M turnover (excl Europe)is accruing Admin costs of around 30% of its entire turnover, pro-rata. Nice work if you can get it.And a warm welcome to all our guests who are in this thread, its nice of you all to take such an interest in our affairs, and im sorry it wasnt worse news for you, really I am. Quote Link to post Share on other sites More sharing options...
globespanscott 32 Posted April 5, 2012 Share Posted April 5, 2012 Although it makes for horrific reading I can see where Paul Murray is coming from with regards to the CVA.134m debt minus Ticketus 27m and debentures 7m is 100m10p on the pound in CVA is 10m owed . Ticketus will give a loan to Rangers over an unset number of years of 10m. Deduct this from what we owe and and the debt stands at zero. Then add in whatever all the Blue Knights are willing to invest and rangers then have capital to play with, if only it were so easy Quote Link to post Share on other sites More sharing options...
Getstiffed 8,863 Posted April 5, 2012 Share Posted April 5, 2012 Dont you love when doom-mongers end up making a positive point....by accident.As stated, pennys on the pound. Quote Link to post Share on other sites More sharing options...
derekweir29 505 Posted April 5, 2012 Share Posted April 5, 2012 How the fuck can this be possible just gets worse every time I put on ssn.Cannot honestly take anymore.Total Mismanagement and who is made to suffer yes us as fans. Quote Link to post Share on other sites More sharing options...
albluenose1990 29 Posted April 5, 2012 Share Posted April 5, 2012 Man City are due money for the Norwegian twins. One of which struggles to get a place in th u19 squad.Sure it's not the loan fee for Weiss? Quote Link to post Share on other sites More sharing options...
Gregor Stevens Fan Club 42 Posted April 5, 2012 Share Posted April 5, 2012 At least we get the Car Park back in 2023 Quote Link to post Share on other sites More sharing options...
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