Sobatai 70 Posted April 5, 2012 Share Posted April 5, 2012 Oh no.........we'll lose our history! Do you think you could turn your positive rep into a negative rep in one thread? Quote Link to post Share on other sites More sharing options...
JCDBigBear 10,825 Posted April 5, 2012 Share Posted April 5, 2012 Read the statement. Doesnt matter how you dress it up. The fact is we owe out £55m, with the tax case taking it up to over £100m! Were in a fucking shit state, and no amount of bartering with creditors is going to bring down our running costs.Take a chill pill. Look at the situation rationally. Liquidation isn't the best solution for Rangers FC therefore a CVA is OUR best option. If you are a creditor, a CVA usually pays you more than what you eventually get from liquidation. You also get that payment quicker than you would in liquidation. No-one likes the situation but we can't rewrite history. Murray left the Club sailing towards an iceberg but Whyte took the helm, gave it full speed ahead and rammed us into the 'berg. Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted April 5, 2012 Share Posted April 5, 2012 gersandy, your attitude reminds me of this........... Sort yer heid oot man. Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted April 5, 2012 Share Posted April 5, 2012 Do you think you could turn your positive rep into a negative rep in one thread?I've been trying for weeks but apparently everyone loves me. Quote Link to post Share on other sites More sharing options...
Marco Negri's Beard 1,423 Posted April 5, 2012 Share Posted April 5, 2012 Absolutely hilarious OP.Sorry gersandy, and I know the figures being thrown about on radio and tv this afternoon are frightening, but the facts as we know them from todays report point to the entirely opposite from liquidation.I dont support one bid over another as long as none of the bidders wish to go down the liquidation route, but take the BK bid as one example.Their itiktus means that Ticketus claim against the club for £27M disappears. Add into that the debentures debt of £7.7M which is strictly debt from an accounting POV but will never be required to be repaid. Add as well the £3.3M owed to other clubs as we are owed in more than that from other clubs, so these offset in our favour. Take that £38M from the "OFFICIAL" debt of £55M (note that, £55M, not any other figure you see or read about), and you have an active debt of around £18M.The BTC is not yet completed, and both our lawyers and the lawyers for the Murray Group still believe this will be won. We will see, but in any event it is most unlikely (next to impossible actually) for us to be hit with the full £93M in tax, fines and penalties from HMRC. Also, HMRC have already stated (privately) they will be happy with a long-term payment plan for any debt arising.Bravo. Excellent post which breaks it down in a simple and easy to follow manner that absolutely no journalist has. Can we pin this on the homepage or something? Quote Link to post Share on other sites More sharing options...
FernandoR20 2,133 Posted April 5, 2012 Share Posted April 5, 2012 Only a fool now would now disagree that liquidation is the best option for us.£55m owed to other clubs, losing £2m a month even WITH players dropping wages, a big tax case hanging over us.Even if a new owner comes in, i can see us just going into admin again and again.Unless some arab billionaire comes in, we'd be better off starting afresh.Id be happy to watch a weak rangers team for a few years, if it meant the club was being run correctly.Here, have a negative rep Quote Link to post Share on other sites More sharing options...
JM1872 3,710 Posted April 5, 2012 Share Posted April 5, 2012 Also remember if TBK take over the Ticketus "debt" will be cut Liqudation is not the best route. Quote Link to post Share on other sites More sharing options...
King Jela 20,361 Posted April 5, 2012 Share Posted April 5, 2012 No. Just no. Quote Link to post Share on other sites More sharing options...
54andcounting 627 Posted April 5, 2012 Share Posted April 5, 2012 what a fucking dickhead ! Quote Link to post Share on other sites More sharing options...
Crespie6 334 Posted April 5, 2012 Share Posted April 5, 2012 as a slight aside, agreeing a cva with HMRC is double-edged sword to me. although we will end up paying less through any agreement we have, we are admitting that we were liable. i see the long-term view of just getting this off the books, but i dont like the idea that we are admitting we evaded taxes when we (and our advisors) think we did not.i also cant believe how many people give any news station or newspaper any credibility. 134m? Quote Link to post Share on other sites More sharing options...
nachothelegend 1,932 Posted April 5, 2012 Share Posted April 5, 2012 Panic merchant .No to Liquidation . Quote Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted April 5, 2012 Share Posted April 5, 2012 Am i missing something here, Walter Smith came out and said last Friday when he left 9 months ago all debt was cleared and Rangers were in their best financial state for 70-80 years.Where do these figures come from?I don't remember Walter smith saying that. I remember Craig Whyte saying something like that though. Quote Link to post Share on other sites More sharing options...
BigAndyM 9 Posted April 5, 2012 Share Posted April 5, 2012 People may say no to liquidation but this is the businessmen who want to make money as a business without liquidation they can't do this, so maybe no choice. Quote Link to post Share on other sites More sharing options...
scottyboyblue 61 Posted April 5, 2012 Share Posted April 5, 2012 Why is it the best option as i am sure all the bidders would have seen this report before it was released and are still willing to go ahead.This is exactly my thinking, all bidders would have been aware of all this before it was made public, and they haven't walked away, so they must think the debt is workable to reasonable outcome Quote Link to post Share on other sites More sharing options...
gersandy 594 Posted April 5, 2012 Author Share Posted April 5, 2012 Aye ok. Maybe i started a shitty thread. But i know its what every gers fan is thinking about.The extent of our debt is disasterous! We've had 2 utter scumbags for owners, (murray and white). How do we know the next man is going to be any better? Lets not forget alot of you on here were slating Paul Murray 6 months ago, now hes a "blue knight". Its a farce.One man cant make all the decisions at ibrox now. It has to be done by the fans, as one entity.We'll see what happens in the next few weeks though. Quote Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted April 5, 2012 Share Posted April 5, 2012 This is the most bizarre thread I have ever seen.Well seen you've not long joined. Quote Link to post Share on other sites More sharing options...
Marco Negri's Beard 1,423 Posted April 5, 2012 Share Posted April 5, 2012 i'd imagine gersandy is too busy hyperventilating into a brown bag to get back to anyone with their sensible retorts Quote Link to post Share on other sites More sharing options...
krissg910 110 Posted April 5, 2012 Share Posted April 5, 2012 people who dont understand business should refrain from making rash statementsyes liquidation is a possibility anyone who says/thinks it isnt is deluded.however i am pretty confident a cva can be agreed.in the end only the new owner knows what route they want to take and at this moment in time we do not know what they think or plan. Quote Link to post Share on other sites More sharing options...
stefmartin16 121 Posted April 5, 2012 Share Posted April 5, 2012 I bet you wish you hadn't started this thread now. Quote Link to post Share on other sites More sharing options...
Brubear 2,920 Posted April 5, 2012 Share Posted April 5, 2012 Only a fool now would now disagree that liquidation is the best option for us.£55m owed to other clubs, losing £2m a month even WITH players dropping wages, a big tax case hanging over us.Even if a new owner comes in, i can see us just going into admin again and again.Unless some arab billionaire comes in, we'd be better off starting afresh.Id be happy to watch a weak rangers team for a few years, if it meant the club was being run correctly.Please note the "accounts" showing a loss of 2.5m in 2 months are on a cash basis, and not a true trading postion. This includes the Adminstrators catching up with paying bills - for example somthing like £600k paid for food and drink when only a 3rd of that brought in in income, also some of the players wages relates to pre-admin so cash out in this period but not a P&L item in the period. Quote Link to post Share on other sites More sharing options...
stefmartin16 121 Posted April 5, 2012 Share Posted April 5, 2012 Btw the doctor can prescribe some great anti depressants these days. Turn that frown upside down. Quote Link to post Share on other sites More sharing options...
gersandy 594 Posted April 5, 2012 Author Share Posted April 5, 2012 people who dont understand business should refrain from making rash statementsyes liquidation is a possibility anyone who says/thinks it isnt is deluded.however i am pretty confident a cva can be agreed.in the end only the new owner knows what route they want to take and at this moment in time we do not know what they think or plan.Rash statements?????D&P, the company assigned to save the club, have mentioned the 'L' word publically. Quote Link to post Share on other sites More sharing options...
gersandy 594 Posted April 5, 2012 Author Share Posted April 5, 2012 Btw the doctor can prescribe some great anti depressants these days. Turn that frown upside down.Ive just sent the wife out for a bottle of jack daniels, cheers. Quote Link to post Share on other sites More sharing options...
Marco Negri's Beard 1,423 Posted April 5, 2012 Share Posted April 5, 2012 Rash statements?????D&P, the company assigned to save the club, have mentioned the 'L' word publically.because they are doing their job. How incompetent do you think they are? Their job is to come to the best deal for the creditors Quote Link to post Share on other sites More sharing options...
Marco Negri's Beard 1,423 Posted April 5, 2012 Share Posted April 5, 2012 Ive just sent the wife out for a bottle of jack daniels, cheers.You know she's not coming back, don't you?Oh, and Quote Link to post Share on other sites More sharing options...
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