ray 105 Posted June 14, 2012 Share Posted June 14, 2012 Just when we think things can only get better. HMRC liquidator cannot rule out sale of Ibrox if green bid fails to materialise.RANGERS liquidators say they are unable to guarantee that the club will continue to play at Ibrox, the club's home for the past 113 years.http://bit.ly/LZjkGR Quote Link to post Share on other sites More sharing options...
Claddie 53 Posted June 14, 2012 Share Posted June 14, 2012 Basically what they are saying is if Green doesn't go ahead with the newco they will have all the assets to dispose of. They have already said that they won't be taking over untill AFTER the asset sale to Green. So if someone tries to scupper the deal we will be hit with the uncertainty if all the assets might not get packaged together. Quote Link to post Share on other sites More sharing options...
OlegKuznetsov 10,816 Posted June 14, 2012 Share Posted June 14, 2012 Insolvency expert BDO has been brought into oversee the liquidation of the company's assets after a company voluntary arrangement (CVA) is expected to be formally rejected at a meeting of creditors today.Yesterday, the company refused to rule out a fire sale of assets if former Sheffield United chief executive Charles Green fails in his bid to form a "newco" from the assets.It could mean Rangers being forced to leave the club's home since 1899, and the land sold for redevelopment, along with Murray Park, its training ground built at a cost of £14 million near Milngavie, East Dunbartonshire.The development came after joint liquidator Malcolm Cohen, of London-based BDO, had initially insisted his appointment "will not mean the end of football at Ibrox – only the end of the company that ran the club".Mr Cohen, who has been appointed with colleague James Stephen, added: "The liquidators will seek to protect any remaining assets, maximise recoveries for the benefit of creditors and investigate the reasons behind the failure of the company."Mr Green, the Yorkshire-based businessman who heads the Sevco consortium, became the preferred bidder with an £8.5m loan to buy the club through a CVA. But through a newco the sum is cut to £5.5m.Despite Mr Cohen's claim, BDO was later unable to rule out a fire sale. It said the statement about the continuation of football at Ibrox referred to the success of Mr Green's newco.The club's biggest creditor, HM Revenue and Customs (HMRC), which was offered just £1.9m of a debt perceived by the administrators to run initially to £21m, rejected a CVA, meaning the club will be wound down with assets placed in a newco.Administrators Duff & Phelps plan to transfer the business to this vehicle, set up by Mr Green, in the next few days.Some experts have questioned whether a fire sale would raise more money than the £5.5m put up by the Sevco consortium."We are at too early a stage to say what is going to happen," said a BDO spokeswoman."We don't have specific details yet of all the assets that could be looked as part of the liquidation. But it is our understanding that football will continue at Ibrox because the stadium will become an asset of the newco."The Herald revealed yesterday HMRC was not contesting Mr Green's purchase and was not interested in forcing a fire sale as "the intention is not to wipe Rangers off the face of the map".Meanwhile, Ticketus, one of the club's major creditors after it purchased season ticket rights from owner Craig Whyte, is today expected to raise concern over the move into liquidation.It will join other creditors at a special meeting at Ibrox this morning to give their response to the administrators' 9p in the pound offer as part of the CVA.Many of the 276 individuals or firms who are owed around £134m from the stricken Glasgow giant will not be attending after HMRC rejected the CVA.A Ticketus source "It looks like that there will be less for creditors. I don't think that helps us."Ticketus said it "has to do what is best for the investors and if there is more money on the table then great".Meanwhile, local MP Ian Davidson said the fans must be consulted on the way ahead and it was important the club continues in some form. Mr Davidson, who represents Glasgow South West, said: "They will obviously want to have a view."This is the same character I spoke to yesterday regarding his article.The bit in bold appears to be the quote he's basing the claim on. It contains no such refusal. On the contrary, the spokeswoman states "it is our understanding that football will continue at Ibrox because the stadium will become an asset of the newco." Quote Link to post Share on other sites More sharing options...
ray 105 Posted June 14, 2012 Author Share Posted June 14, 2012 This is the same character I spoke to yesterday regarding his article.The bit in bold appears to be the quote he's basing the claim on. It contains no such refusal. On the contrary, the spokeswoman states "it is our understanding that football will continue at Ibrox because the stadium will become an asset of the newco."I would think he is basing his claim on.."Despite Mr Cohen's claim, BDO was later unable to rule out a fire sale. It said the statement about the continuation of football at Ibrox referred to the success of Mr Green's newco" Quote Link to post Share on other sites More sharing options...
bilko89 507 Posted June 14, 2012 Share Posted June 14, 2012 I fucking hate our media The thing is I know many of our fans who believe EVERYTHING they read in the paper, hear on the news and radio. If I didn't have RangersMedia, I would have killed myself by now Quote Link to post Share on other sites More sharing options...
rayq81 231 Posted June 14, 2012 Share Posted June 14, 2012 Simple solution, if they try to sell off Ibrox then get the fans to occupy it, I reckon a few thousand per day on a rotational basis will cause enough chaos to put any would be developer off. Quote Link to post Share on other sites More sharing options...
OlegKuznetsov 10,816 Posted June 14, 2012 Share Posted June 14, 2012 I would think he is basing his claim on.."Despite Mr Cohen's claim, BDO was later unable to rule out a fire sale. It said the statement about the continuation of football at Ibrox referred to the success of Mr Green's newco"Yeah, but there's no quote to back it up.Why was he unable to rule it out? Did he actually say anything like that? There's no evidence to say that he did. Indeed, the quotes he does list from him say Quote Link to post Share on other sites More sharing options...
ray 105 Posted June 14, 2012 Author Share Posted June 14, 2012 Yeah, but there's no quote to back it up.Why was he unable to rule it out? Did he actually say anything like that? There's no evidence to say that he did. Indeed, the quotes he does list from him sayThere isn't anything to back a lot of things up in this sorry mess, it will end where it ends, we as usual will be the last to know, unless of course the entire agenda of the recent tea and biscuits audience with charlie is revealed. You know the bit that we plebs could not be trusted with no reason for secrecy now and there never was. Quote Link to post Share on other sites More sharing options...
North Rd 2,860 Posted June 14, 2012 Share Posted June 14, 2012 HAS Green got the 5.5m to buy the assets, last I heard the pot was down to just over 1m Quote Link to post Share on other sites More sharing options...
sprotson11 147 Posted June 14, 2012 Share Posted June 14, 2012 This is a non story written to scare rangers supporters.The headline states they can't guarantee football will be played at ibrox. Of course they can't, no one can guarantee anything but there it is likely that it will be.All the article says is, if green does not buy the club we will sell to someone else, we all knew that Quote Link to post Share on other sites More sharing options...
IainB 599 Posted June 14, 2012 Share Posted June 14, 2012 HAS Green got the 5.5m to buy the assets, last I heard the pot was down to just over 1mSurprising since Duff and Phelps have said they have 8.5 million in an escrow account from him, and he has further provided funds to keep club running while there is no revenue coming in. I will continue to read nothing but official releases from the club through the web site. The rest is pure scheidt and nothing but mud raking by thim loving bassas. Quote Link to post Share on other sites More sharing options...
RyanMac 185 Posted June 14, 2012 Share Posted June 14, 2012 Literally over my dead body. Quote Link to post Share on other sites More sharing options...
Raghead 24 Posted June 14, 2012 Share Posted June 14, 2012 What could they do but the only ppl that could buy it is the council or the government to use as a sporting arena in which case we would maybe have to rent it. But I think all assets will transfer to a newco wither its green or sum1 else, Hmrc will want the £ us fans can generate so can't see them scraping us Quote Link to post Share on other sites More sharing options...
Non_Sucumbi 876 Posted June 14, 2012 Share Posted June 14, 2012 HAS Green got the 5.5m to buy the assets, last I heard the pot was down to just over 1mWhere did you hear that?? FF, TBK, RST????? Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted June 14, 2012 Share Posted June 14, 2012 I scoff at these "can't rule out - " stories.They can't rule out Aliens landing at Ibrox tomorrow either, or rule out taigs apologising for their clubs misdeeds covering up for kiddy fiddlers.Both unlikely, but can't be ruled out. Quote Link to post Share on other sites More sharing options...
7davie7 0 Posted June 14, 2012 Share Posted June 14, 2012 fuck that anbody up for buying some handcufs 50 000 fans chained to ibrox they would need to bring in the army. Quote Link to post Share on other sites More sharing options...
centenarystand 2,227 Posted June 14, 2012 Share Posted June 14, 2012 One thing that pisses me off about this forum is those that revel in posting a negative story. Quote Link to post Share on other sites More sharing options...
7davie7 0 Posted June 14, 2012 Share Posted June 14, 2012 I scoff at these "can't rule out - " stories.They can't rule out Aliens landing at Ibrox tomorrow either, or rule out taigs apologising for their clubs misdeeds covering up for kiddy fiddlers.Both unlikely, but can't be ruled out.4 months ago they couldn't rule out liquidation look whats happening now. fuck the tims for the now sick of hearing about them. ur comments are verry narrow minded oour clubs dying and u shouting ur mouth of about kiddy fiddling.we all hate celtic its just the way it is and always will its in our blood. rangers fans get a grip we have more important things to worry about Quote Link to post Share on other sites More sharing options...
sprotson11 147 Posted June 14, 2012 Share Posted June 14, 2012 I scoff at these "can't rule out - " stories.They can't rule out Aliens landing at Ibrox tomorrow either, or rule out taigs apologising for their clubs misdeeds covering up for kiddy fiddlers.Both unlikely, but can't be ruled out.No matter what has happened in the past you are quite correct, "can't rule out" is just a standard phrase the papers write to whip up a frenzy amongst fans. Quote Link to post Share on other sites More sharing options...
sprotson11 147 Posted June 14, 2012 Share Posted June 14, 2012 I scoff at these "can't rule out - " stories.They can't rule out Aliens landing at Ibrox tomorrow either, or rule out taigs apologising for their clubs misdeeds covering up for kiddy fiddlers.Both unlikely, but can't be ruled out.No matter what has happened in the past you are quite correct, "can't rule out" is just a standard phrase the papers write to whip up a frenzy amongst fans. Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted June 14, 2012 Share Posted June 14, 2012 No matter what has happened in the past you are quite correct, "can't rule out" is just a standard phrase the papers write to whip up a frenzy amongst fans.Two folk have a punchup in a bar its reported as such.If one happens to be a Rangers fan a police spokesman says they can't rule out a sectarian motive.That's cos he was asked the question and obviously could only give that answer. A common media trick that creates an impression without actually saying anything. Quote Link to post Share on other sites More sharing options...
sprotson11 147 Posted June 14, 2012 Share Posted June 14, 2012 Two folk have a punchup in a bar its reported as such.If one happens to be a Rangers fan a police spokesman says they can't rule out a sectarian motive.That's cos he was asked the question and obviously could only give that answer. A common media trick that creates an impression without actually saying anything.Just like "A Source Said"!!Honest I wasn't just making it up, some big boy told me. Who was the big boy, oh I cant't tell you that, he might get me!!! Quote Link to post Share on other sites More sharing options...
Gillete 1,338 Posted June 14, 2012 Share Posted June 14, 2012 fuck that anbody up for buying some handcufs 50 000 fans chained to ibrox they would need to bring in the army.I will assure any man I will do jail time if it comes to ibrox being sold Literally they will have to take on me and whoever else stands at the gates of ibrox Quote Link to post Share on other sites More sharing options...
Davie2909 21 Posted June 14, 2012 Share Posted June 14, 2012 Sell to who? Its a listed building so they cant rip it down its practically useless to anyone bar us! Ridiculous story IMO Quote Link to post Share on other sites More sharing options...
jonbryce 63 Posted June 14, 2012 Share Posted June 14, 2012 Just when we think things can only get better. HMRC liquidator cannot rule out sale of Ibrox if green bid fails to materialise.RANGERS liquidators say they are unable to guarantee that the club will continue to play at Ibrox, the club's home for the past 113 years.http://bit.ly/LZjkGRThat's just common sense really. There is a contract to sell it to Green, which HMRC are not objecting to, even though they could. However, if Green doesn't manage to come up with the money, they have to sell the assets to someone else, and if nobody else comes forward with enough money to buy the assets to use as a football club, they will have to sell to a property developer, amusement park operator or whoever does come forward. Quote Link to post Share on other sites More sharing options...
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