Crespie6 334 Posted April 5, 2012 Share Posted April 5, 2012 And that's the bottom line...what? 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 Can anyone clarify something.IF we were liquidated, what happens to our past honours?Im thinking of someone who knows how to answer that question. No guesses.Ive heard alot of people mention fiorentina and leeds utd. What are the facts surrounding it?Facts are hard to come by with regards to that. Fiorentina seem to be an example where very little changes. I couldn't give you any factual answers, only to say that history cannot be lost by sheer definition that it happened Quote Link to post Share on other sites More sharing options...
islandblue 366 Posted April 5, 2012 Share Posted April 5, 2012 Liquidation is not an option for us and I don't for one minute believe it will happen Quote Link to post Share on other sites More sharing options...
BigAndyM 9 Posted April 5, 2012 Share Posted April 5, 2012 Liquidation is not an option for us and I don't for one minute believe it will happenQuite clearly a option or it wouldn't have been talked about, you just have to look at the likes of Leeds. Quote Link to post Share on other sites More sharing options...
BigAndyM 9 Posted April 5, 2012 Share Posted April 5, 2012 Liquidation is not an option for us and I don't for one minute believe it will happenQuite clearly a option or it wouldn't have been talked about, you just have to look at the likes of Leeds. Quote Link to post Share on other sites More sharing options...
dan_ger 1,454 Posted April 5, 2012 Share Posted April 5, 2012 gersandy really knows how to work a crowd, eh!? Quote Link to post Share on other sites More sharing options...
dan_ger 1,454 Posted April 5, 2012 Share Posted April 5, 2012 Rangers will go on. We will not be moved. Quote Link to post Share on other sites More sharing options...
nachothelegend 1,932 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.And to think some Guys on here thought Liquidation was the best Route.Listening to the Tarriers, and experts on Radio too much .The last time I listened to any of them 2 Weeks ago I was screaming at That Pair of Bellends Roughie, and DJ.I had to stop Listening as the Two of them where Stuttering ,and Guessing every Scenario available and it Fried their Brains .They where utterly clueless.Unbelievable the Amount of People that want a Football Club Buried. It sums our little Parochial Country up. Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted April 5, 2012 Share Posted April 5, 2012 The OP is a taigy tit.That is all. Quote Link to post Share on other sites More sharing options...
mookie 0 Posted April 5, 2012 Share Posted April 5, 2012 Its a big scary number, but the financial boys dont seem perturbed by it, so i'll join their gang.All the bidders have known the numbers for some time I would suggest, and they still threw their hat in the ring. Some are even confident in securing a CVA. They are the business guys, I am not, so if they can see a way through this/are not put off, that's good enough for me. Quote Link to post Share on other sites More sharing options...
bluesteel 218 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.Then I ama fool,therewill be no Rangers team,weak or otherwise,or is there something you dont understand about liquidation? Quote Link to post Share on other sites More sharing options...
salmon 1 Posted April 5, 2012 Share Posted April 5, 2012 Just read the report from Duff and Phelps and we owe everybody money even an effin newsagents. What has happened to our club. Quote Link to post Share on other sites More sharing options...
damien1 29 Posted April 5, 2012 Share Posted April 5, 2012 Just read the report from Duff and Phelps and we owe everybody money even an effin newsagents. What has happened to our club.Every business owes alot of people. At the time of being calculated that was the state of affairs, some will have been paid off by now. Take Celtic for example, we are down for owing them £40k, but in actual fact they still owe us money from the last OF game. Quote Link to post Share on other sites More sharing options...
LegendofCoop 17,312 Posted April 5, 2012 Share Posted April 5, 2012 Have they provided a figure for our assets or are they just listing our liabilities?I read somewhere that Whyte had a floating charge of £126m. I'm no expert, but I think that is what our assets are worth in an ideal world. That said, our assets are only really worth what someone wants to pay! Exactly! I fail to see where the whole shock comes from! If anything today has been a positive, we are now down to our final 3 bids and by next week we will know the preferred bid and be well on our way to coming out of administration! I think there's a fair few folk who perhaps didn't fully understand how much we owed. That said, I think that most folk hit rock bottom again when it's put in front of their faces. A guy at my work keeps thinking it's doomsday every time this gets broadcast. I'm fed up explaining it to him. Agreeing the CVA will put a lot of folks minds at rest. This is all worst case scenario too.....we might still win the BTC! Quote Link to post Share on other sites More sharing options...
gersandy 594 Posted April 5, 2012 Author Share Posted April 5, 2012 The OP is a taigy tit.That is all.Thats a fucking insult. Quote Link to post Share on other sites More sharing options...
JCDBigBear 10,825 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.Not exactly true TB, Ticketus debt doesn't disappear and neither does the Debenture debt. Quote Link to post Share on other sites More sharing options...
gogzy 31,195 Posted April 5, 2012 Share Posted April 5, 2012 Thats a fucking insult.Pretty sure an insult is what he was aiming for. Quote Link to post Share on other sites More sharing options...
mookie 0 Posted April 5, 2012 Share Posted April 5, 2012 Just read the report from Duff and Phelps and we owe everybody money even an effin newsagents. What has happened to our club.Somebody stole a load of our cash (which was thin on the ground anyway!) and took tax and NI from employees and failed to pass it on and pocketed it to the tune of around £9m, sold the Arsenal shares and kept the cash, mortgaged the season ticket money and kept the difference after 'paying of' the bank.He has absolutely crippled us to the point of extinction and walked away.I truly hope that reprobate gets the jail!PS: I know you know this....just sounding off...it helps me cope!!!! Quote Link to post Share on other sites More sharing options...
A.T.G 10,773 Posted April 5, 2012 Share Posted April 5, 2012 One way or another it's all coming to a closeI hope most Bears will see the hurt and frustration finally reaching the endThe financial fuck ups and severe mismanagement have finally seen us come to thisA potential bill that would make anyones eyes weepBut wether we owe £55m or £134m the pot will be the same and new owners will take chargeWe have been fucked for a decade since Murray went cheque book crazy but at the end of the day we will be starting next season with no tax case, no debt and a 50,000 strong Ibrox gunning for our fuckin trophy backAnd I can't fucking waitIts been 4 years of financial baws and we still won 3 titlesThis period will only make us stronger Quote Link to post Share on other sites More sharing options...
scottyc06 6,915 Posted April 5, 2012 Share Posted April 5, 2012 Thats a fucking insult.Aye he's a clever one aswell 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 Just read the report from Duff and Phelps and we owe everybody money even an effin newsagents. What has happened to our club.I don't think you are aware of the complexities of running a football club 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 Not exactly true TB, Ticketus debt doesn't disappear and neither does the Debenture debt.Ticketus comes down to £10m, cant say I know about Debenture debt Quote Link to post Share on other sites More sharing options...
gersandy 594 Posted April 5, 2012 Author Share Posted April 5, 2012 Just trying to get my head round the ifs and buts. But calling someone a tim is below the belt. No matter what, being branded one of them makes me sick. 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 Just trying to get my head round the ifs and buts. But calling someone a tim is below the belt. No matter what, being branded one of them makes me sick.Fair enough - think your opening sentance there is a little off-base though. Everyone else has been trying to get their head around all the figures, you simply jumped the gun. Think folk would be a lot more merciful if you simply admitted that you may have gone a little OTT with your original post. It has been explained by many throughout the Bears Den how skewed these figures are, how the release of these figures hasn't changed anything, how all interested parties will have been aware of said figures, and how there is still a very good possibility of leaving administration through a CVA at a fraction of the daft figure touted Quote Link to post Share on other sites More sharing options...
JCDBigBear 10,825 Posted April 5, 2012 Share Posted April 5, 2012 Ticketus comes down to £10m, cant say I know about Debenture debtYes Ticketus debt reduces but only if they are with TBK and assuming TBK is the successful bidder but I think they will also take equity to cover at least part of the remaining debt. The Debenture debt is simply that and will depend on how many holders complete their claim I should imagine but it is still a debt. Quote Link to post Share on other sites More sharing options...
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