Google translation of a German bears take on the situation

[robg58 319]

This from Gersnet

Insolvency of the Rangers - a status quo.

In the German press reported that the Rangers have gone into bankruptcy disbanded, and were re-established, and because of over € 160m debt in the fourth League must.

In fact, because many things are wrong:

In GB, there is a duality between football club and operated company. The club Rangers FC was founded in 1872 and 1899 due to economic necessity operator Company The Rangers Football Club plc launched. That was last year by then-owner Craig Whyte (he bought the club until the spring of 2011) driven to the wall.

The official report is either insolvent or in the mail, you can download it here:

http://www.rangers.co.uk/staticFiles/fe/ ... 5 ~ 174,334.00. pdf

What did Craig Whyte?

Craig Whyte was the Rangers acquired in May 2011 for £ 1 from its predecessor, Sir David Murray and was therefore about 85% of the shares.

At the time, pushed the Rangers a bank debt of approximately £ 20m, which was at that time at the Lloyds Banking Group. Lloyds was the previous owner Sir David Murray, pressure, because its steel empire in the aftermath of the financial crisis slipped deep into the red. The Rangers were one of the few parts of this empire, which could be quickly converted into cash. The bank promised to pay off debt Whyte, so that the Rangers fans were actually very optimistic about the future. Sure, there were rumors even then the person Craig Whyte, but that is popular with business people on this scale, too far from unusual. After it is always wiser.

Craig Whyte also obliterated the bank debt, but not with his own money. He came from proceeds from ticket sales for the next 4 years in the finance company Ticketus that Whyte is a sum of around £ 26m project stretched. So Whyte paid the debt and made sure that the club was initially going. That this is not a legal procedure by Whyte as well as Ticketus was - that Whyte's financing plan was not aware at first to be seen. Ticketus' claims against the Rangers totaled £ 26m said that they require mitlerweile but Whyte and have taken legal steps.

But that's not enough, Whyte paid from the date of acquisition charges no tax (VAT / PAYE), the Rangers more. By the time all these things came to light more and more, and so came in February 2012 the inevitable happened. The UK tax authority, Her Majesty's Revenue and Customs (HMRC) demanded a sum of the outstanding and as Whyte (Rangers) could not pay / would, he filed the bankruptcy papers.

During the bankruptcy, it was all about the accrued during his term tax liabilities of £ 9-15m. Nothing more. All other liabilities are long-or medium term, as they are very common in clubs and on the normal flow belong.

It is clear from the insolvency official report (list of creditors) is the total debt at the date of insolvency to around £ 55m.

Whence then comes the popular press in the € 160m to € 170m?

From the imagination. They are not simple. Pessimists would say that they do not exist yet.

From the year 2000 around, have the Rangers (then no less dangerous owner Sir David Murray), like many other British companies also known as Employee Benefit Trusts (EBT) is used to provide power for at that time legally, the players with bonus payments . 2010/11 around the UK tax authority, this has it declared illegal and immediately began to check through companies that have used these EBTs as a kind of content options, which were then smuggled over to speak to the British income tax. They chose the Rangers as a prominent victim and there was just such payments between 2001 and 2006 about the legality of which is now in doubt. The horror figures bandied always like to relate the absolute worst case scenario that could occur if the tax authority and get away with everything, really everything but turn out to our disadvantage. That would be about £ 75m. And the word "could", which was set in the British press often before these high numbers is always even just "forget" happy times. Since this is also renowned by such institutions as the BBC is being done, it has taken over the German press, understandably, without further research. For this purpose there is but, still no final judgments, since it is not so easy, too, is something afterwards to explain completely illegal, which at that time it was not definitive.

There are already numerous other studies of HMRC in GB, because hundreds of companies, banks, football clubs (many clubs in the English Premier League) have used the same EBTs. Then, as stated a clear conscience.

A very complicated argument, but that has to do with the insolvency of the Rangers to anything! Here are the above £ 55m, as can be seen very well the bankruptcy report.

This interim statement only as to the numbers of such widely bandied.

What happened next?

The liquidator Duff and Phelps took over in June and failed a creditor negotiation. The UK tax authority (HMRC) does categorically against such methods. Then the liquidation of the operating company has decided after all of the shares, the ownership, employees, etc. transferred to the new operating company were Sevco Scotland. The football club itself remains unaffected thereof. Say, the Rangers Football Club, as we all know him and his 140-year history in Germany, remains untouched!

Membership in the Scottish top league (Scottish Premier League - SPL) and the Association (Scottish Football Association - SFA) has held that the operating company. Since the old one is broken, the new file an application for membership. This application was rejected on 04:07:12 10 clubs. Kilmarnock abstained, voted for the Rangers.

Now ask yourself, of course, how can it happen that decide such things, the competitors? Yes, that's just Scotland. A beautiful country, but in football over many decades of deep hatred coined that goes far beyond the rivalry between Rangers and Celtic. And as for the associations, so that Italian units appear in a worse light.

In Germany, most rules and regulations would clarify such a situation by yourself. As it should be. And then you have to live with what to give up the statutes. Finally we have the first so at some point once accepted. Not so in Scotland. Because it is such a thing is not easy. The associations were literally removed their pants and pinched fully before making a decision, which would easily have been their responsibility. What initially sounded like a joke, quickly became a harsh reality.

How to vote so should the incumbent board members of the SPL on the membership of the Rangers, but quickly gave that vote on the grounds that the decision taken by them alone (6 members of the 12 SPL clubs) could be taken. Agreement was reached quickly on it, all the 12 clubs have agreed.

A chase is a joke, against which followed, what then. The club suddenly saw the opportunity to get a bigger slice of the pie can be. A rank closer to a possible starting point for a European competition, more TV money, more sponsorship money, more money, etc., by a higher court for final season. Full of joy and of course, sure to vote as they would let the club do vote their own fans. This would be fun to clubs not to be missed. The fans went there not so much about money, rather than the bare glee and frustration pent up for decades. The results were clear, urged all fans to their respective clubs to vote "No" - under the threat that the clubs should vote against it, they would be boycotting their club. Sell ​​could not of course with "greed" and "pure hatred", but hid behind the new favorite phrase "for the sake of sporting integrity".

Imagine only time that Bayern would be in a similar situation and DFB / DFL would ask in an attack on democracy, the clubs, which would in turn allow their fans to vote. The result should be known. Such a decision is an outrage! Such a thing is governed by statutes and decided not to sympathy and personal interests.

What in Scotland SFA, SPL, clubs etc. remove, is something like this, so they punish the Costa Concordia (ie the ship!), Their cooks, stewards, hostesses and passengers that the ship was aground. Who's to blame and who is drawn mainly responsible, is not matter where. The captains of other ships (ie, the chairmen of all other clubs), Costa and foremost, it's all about the Costa Concordia is pretty basic and does not depend on again preferably runs. Because they get all the passengers, revenue and media attention. And that is understood then as honest and objective decision. Then you have to come first.

This becomes clear when one sees how the penalties have been unequally distributed.

Rangers:

- Deducted 10 points (normal is insolvent).

- £ 160,000 - a fine (normal is insolvent).

-. Loss for the current CL-space and 3-year exclusion for European competitions (A UEFA rule, there must be any "club" at least 3 years as a member of the Association of the duality between the club and operated company has here a negative impact on a rule that primarily to oil tycoons and those of freshly launched clubs aiming to the appeal of the Champions League as not to undermine.)

- Liquidation of the operating company.

- Relegation to the 2nd, 3rd or 4 (There are member clubs of the SPL so the "no" vote.) League

- 1 year transfer embargo (A map of the SFA, which is not consistent with the statutes and judicial already been rejected, though was still not off the table).

- Loss of almost the entire professional squad (according to coach McCoist about 20 players - there are no more professional 8 full). The players were able to dissolve the company will prepay, some did so (not least on the advice of their agents - better deals on contract-free player).

- Missed transfer fees by the departures of players around £ 25m to £ 30m.

- Hardly abzusehender's image.

The real cause Craig Whyte:

£ 200,000, - fine, he will not pay anyway, and he may never again perform a job in Scottish football. That will make him tremble in Monaco is not really safe.

The association has to be described as neither had knowledge of Whyte's activities, nor could anyone from club side to do something against it. However, it is the club to be held accountable for misdeeds Whyte accountable. Mind you, for reasons of "sporting integrity".

Meanwhile, the club but at least something came to my senses and employed more and more with the reality. So what would it mean really, the Rangers would resign from the SPL? And suddenly everything appeared in a different light. The SPL clubs had their noise that is completely forgotten that the cake that it is important to distribute the future, much smaller. The TV deal is renegotiated, sponsors reduce their payments or get out completely, the Rangers are a magnet for the viewer's home games away as much as 5 to 15,000 fans who follow them always. And then also no major pieces of cake help if the cake is from a cookie. They did, however, until the last day understood, but because it was too late. In Germany, one would proceed according to statutes. Just as it should be. The same for everyone. In Scotland, you can vote for the opponents of sympathy. And that means hatred and envy. Called "sporting integrity".

One day before the vote went to the club managers literally colloquial to the ground ice, and they met again at a meeting. They had even realized what it would really mean. Only eight clubs had already announced in public statements, as their fans had decided and that we would of course be voting "no". The fans threatened to boycott the games should own, the club managers still decide differently. So it was a "no".

The next step:

The Rangers then membership in the next instance requested, the Scottish Football League (SFL), which the League 2-4 (Division 1-3) managed.

It has now long been the desire of the Rangers Appendix (!), Volunteered in the 4th Scottish League (Division 3) to restart, not least in order to bring their disapproval of the SFA and SPL expression, which have helped the club at any time, and cried constantly looking for new penalties and sanctions. Not to mention the decision by voting altogether. For ultimately, was the victim of an elitist club swindler and allowed himself to be athletic nothing to be guilty, which is completely ignored in the Scottish press. The SFA and the SPL is likely to fall into severe financial difficulties, because it will miss them (according to own data) about £ 16m in TV money from the revenues of the clubs, which the Rangers had a guest, not to mention. Already, they put pressure on the SFL, so this is not the Rangers in the 4th, but "only" in the 2nd League use, so that "no football in Scotland goes to the dogs." It's almost embarrassing, because while it is noted that the grant major television sponsor of the SPL is a grace period for a year without the Rangers would. So you have decided on the part of the grand SPL and SFA to move down the Rangers, but it delivered the same as the SFL pushed the buck, and predicts the consequences if you look at the specifications of the SPL / SFA does not fit. It should be noted that the SPL was of the "bigger" clubs in Scotland called for purely commercial reasons, to life and estimated such a large part of the sponsorship money for themselves, while the remaining 30 clubs in the SFL with an annual sum to be fobbed off by £ 2m. The joy about such behavior of the 'big' clubs and the association is behaving accordingly.

The Rangers fans (large-scale surveys of season tickets holders and members with an award of 80%), as well as coaches McCoist yourself, so in the fourth League. What do you want to also do well if the club does not have any more players. And apparently it is still in the interest of - Attention, here we have it again - his sporting integrity.

But neither of them now want to SFA and SPL, the SPL clubs still know little more. They want the Rangers in the second League and get back as quickly as possible in the SPL, but with penalties such as point deductions, transfer embargo, etc. for more years to it as harmless, toothless because of bears, but it is the buyer of sponsorship and TV money to use, can. Of course, everything in the name of - note - sporting integrity. Understood yet. But who would want to doubt in the slightest.

The SFL from right:

On Friday, 13:07:12 is now the Scottish Football League (SFL) to decide whether the Rangers in the 2nd, 3rd or 4 League will continue. And they guessed it, the SFL's decision also leaves the club. Or their fans? We will see.

Almost perversely, however, is how the small clubs in the 2nd, 3rd and 4 League (all vote together on) but are now set by the major organizations under pressure, but the Rangers but please only in the second Stick to league. And where the SPL clubs, all of which could not be fast enough to be at hand, the Rangers for the sake of sporting integrity in the 4th League to send this wish now that it's suddenly only to their own money, avoid at all costs, even while the Rangers certainly prefer. Inverted world? No, just football in Scotland today. And to achieve this, the small clubs are also placed under severe pressure, as this latest statement shows the Cowdenbeath FC. http://www.cowdenbeathfc.com/index.php?act=viewNews&id=1075

Who is culprit, who is the victim?

Perpetrator is definitely Craig Whyte. Are the Rangers because of a pure offering? No, not that. Of course, they have been cheated of ice-cold, but you have to simply put the blame for having it recognized of late. Fact this is common in the majority, not easy, but are still the club must also be his responsibility. Whether the distribution of punishments is so just, anyone interested should decide for themselves.

As for the associations, so it's really just a scandal. An example is as well as the transfer embargo imposed by the SFA year. Also, this penalty was not provided in the statutes. The Rangers were trimmed by the insolvency of the violation of a rule, be held responsible, however careful with a punishment that it was not easy, according to association statutes. But who helps? A protest march of more than 10,000 Rangers fans was the beginning and the end, the Rangers went to an ordinary court. This required only a few minutes to declare the punishment illegal. A cold shower! But now the UEFA came around the corner, it does not like when clubs go against the national associations before the ordinary courts. I wonder why not ...?

It will be built at this point, however, please no false picture. The Rangers, who are sure victims are punished! No ifs or buts! But the hardness and the decision-making and practice is no less reprehensible than what a Craig Whyte has done. Ultimately, it all goes just about money.

The position and power of the Scottish press in this tragedy, we can at this point just once on the sidelines. One must not forget the local reporting that Scotland is a small country and the limited number of reporters have been waiting for some decades to such a case. Quite often came to light a local bigotry that has no equal. A reporter legend like Jim Spence hawked the case of the Rangers, for example, diametrically opposed to his club, the Queen of the South, which suffered a similar fate a few years ago. Be taken of their reports by the BBC, which in turn serves as a respectable Infomartionquelle - - even the BBC Scotland has since taking office Whyte with the club on a war footing and has a lie again and again their independent reporting left behind to be in quality with the Tabloids on an equal footing. Alone any mention of the Rangers in the Scottish press as "Newco Rangers" or "Rangers Newco" shows how to deal with the situation of the association studied.

Conclusion?

It's too early. But it is certain that will end up losing all. The Rangers and the whole of Scottish football. The now even have known it, which saw itself as the big winner. For the fans of Celtic FC is still not quite arrived, but since it is well known, always takes a little longer. Your gloating will probably take the longest and most beautiful to be, but they look almost already the winner of the next 3 to 4 championship. Whether it be still a championship, which will be worth its name is, is, on another matter.

At 13:07:12 it goes into the next round.

[rayq81 231]

Was is das ?

[jack1690 793]

Was gonna read all that but I go on holiday on friday

[BlueThunder 8,454]

That actually looks like a very good article. Some excellent points. I got the gist quite easily. I just wish the media was so thorough.

I did particularly like this though;

'The associations were literally removed their pants and pinched fully before making a decision'

[3Proddie1690 132]

I love reading unbiased reports on the Rangers, just shows how hard weve been fucked over

[Prince of Orange 84]

It seems a good article for the most part, just wish it wasn't so literal but I read it all as it made more sense than the shite we've been treated to. Nice to see that from out with Britain other journos are taking a considered approach to ALL the facts and not just the bits they want to. It'll never catch on up here. It was fairly balanced and shows what an absolute arse the footballing authorities have made of the situation as well as having a pop at our mhedia. Shows just how big a laughing stock this country is football wise.

Was glad to hear the Germans (some at least) will still treat us as The Rangers and to them our history remains untouched. It's a good start to see how other nations and clubs in them will view us. I know it doesn't mean much to us but it would be nice to have some international clubs backing us.

[GWR1979 1,987]

Good article, I know that Bayern paid to help out Dortmund when they were in trouble helping to protect the German game.

That is what The SPL have failed to grasp by kicking Rangers they are kicking themselves, they couldnt help themselves they will reep what they sow. I don't think that even if we go down to the first div there won't be SPL clubs who go to the wall, The evidence is in there attendences which have fell off the cliff in the past few years.

Can't wait for next season when sporting integrety starts.