Rangers Have gone into Administration

thats traynor off whytes xmas card list

https://img.skitch.com/20120213-rraiw88yip5u57pdgxus6kxwyb.jpg

pfunkboy, that "some are saying..." thing is what we've been saying for ages - that Whyte is out for himself and fuck Rangers and fuck their creditors. If this is just dawning on because you refuse to believe researched stuff read from somewhere unless it's in black and white in a tabloid, then you are basically Hugh Keevins.

i am not refusing to believe anything.

http://www.bbc.co.uk/news/uk-scotland-scotland-business-17021584

A stockbroking company which has Rangers owner Craig Whyte as board secretary has been banned from further trading by the financial regulator.

The Financial Services Authority has ruled that Pritchard Stockbrokers had used client money for its own expenses, "thereby putting client money at risk".

That means it "failed to comply with the proper standards and failed to act with integrity".

"where's yer fuckin billion pound ya cunt?"

https://www.youtube.com/watch?v=PIjgyHui3A0

lol

there was a fit and proper test taken, right?
Did david murray give it so that he could get out with some of his money intact?

i think mr whyte has over taken over from our own mr w@tson, Foolston and friends.

xp

they weren't very happy bears

hahaha, what an epitaph

http://a6.sphotos.ak.fbcdn.net/hphotos-ak-ash4/408049_3263165466506_1488314575_3165787_98406601_n.jpg

Gers fans staying classy on twitter

i think on saturday a very loud rendition of BILLY BOYS is in order..... what they gonna do... dock us points ;) WATP

Administration, job losses, unpaid taxes, possibility of liquidation? WE HATE KAFFLIKS!

The Financial Services Authority has ruled that Pritchard Stockbrokers had used client money for its own expenses, "thereby putting client money at risk".

pretty fundamental breach of FSA handbook rules

doesn't rain but it pours for whyte

can't wait till Saturday.Bring back the billy boys for the day.Ram it up every rangers hating piece of shit #nosurrender

Gers fans staying classy on twitter

i think on saturday a very loud rendition of BILLY BOYS is in order..... what they gonna do... dock us points ;) WATP

Administration, job losses, unpaid taxes, possibility of liquidation? WE HATE KAFFLIKS!

can't wait till Saturday.Bring back the billy boys for the day.Ram it up every rangers hating piece of shit #nosurrender

fucking scotland. makes me hate my country some times.

i bet theres arseholes out there blaming catholics for all of it

Need to change it to "Goodbye! Goodbye! We were the Billy Boys"

or jewish and catholic bankers

who do they play this weekend? They will hump them then the games after that the lols should begin.

please tell me its motherwell

the "ha ha" version of TBB remains one of my favourite get it right up ye chants

They've got Killie. Pretty much one of those friendship games with half and half scarves.

https://p.twimg.com/AlkGvH0CQAAI28X.jpg

idg this "when rangers die" meme

is it a reference to something I'm missing?

the "ha ha" version of TBB remains one of my favourite get it right up ye chants

most clubs do that. Especially against Airdrie. its the one song every joins in

at accies that is. i daresay if we ever bet celtic the hail hail tune would be sung but its never happened in my time. I wasn't at the 2-0 game late 80s (because i was at the previous 8-0 drubbing and decided i didnt want to witness it again)

idg this "when rangers die" meme

it is a reference to what some see as the endgame here - administration > receivership > liquidation > RIP big man heaven needed a dignified institution.

I don't think they will die. I think Whyte honestly believes he can get them into administration, fuck over his creditors and get back out in time to be debt free and getting a UEFA licence on 31st March.

i agree. though if he forms nu-rangers after march 31 he can apply for a new license

New clubs are not allowed to compete in European competitions for three full seasons.

I thought a new club couldn't play in Europe for three years?

xpost

ahh yeah, of course.

i was going by whatever news program said that they could re-apply.
I think if he is hoping HMRC will negotiate a lower bill by saying he will pull the plug and they get nothing, then he almost certainly will need to start over again as Nu-Rangers. I can't imagine HMRC agreeing to take a lower amount even if scottish media start saying its better the taxpayer gets something instead of nothing(i can honestly see that happening).

Imagine every business then trying to 'negotiate' like that? So not going to happen.

Aw, man, *finally* got SSN on. Gordon Smith!

btw, I'm trusting bloggers who appear to understand tax laws and financial rules and various related laws and guidelines above pishy hacks trying to flog papers/fill news reports who have done the square root of fuck all research into a guy with a well fucking dodgy history and any implications. It's not like they haven't had time to find this stuff out. It was only ever a case of when, not if.

cozen, more specifically, that song was originally about having a party when Thatcher dies and has been updated for the imminent demise of another scourge on Scotland. They might not die as such, but waiting for it has been entertaining.

I wish this had happened a week when I could give this my full concentration :-/

Traynor presumably not on Whyte's Christmas card list anyway as an employee of the Beeb (who he's fallen out with and keeps forgetting to sue) *and* the Record who finally broke ranks first on the Ticketus debt.

http://i.imgur.com/kIhsp.png

in the spirit of the community i volunteer myself as your token target-of-abuse rangers fan.

lol i was about to ask if ilx had any rangers supporters

Hi Merdeyeux, I am keeping my abuse for the dafties who didn't see it coming and still think it's a press/Kafflik/taxman conspiracy to defeat Ra Gers. Some of my best friends, etc, and I feel a teensy bit sorry for them that their club has been abused to this extent. But that's just because I am basically a nice person. The reality is, they fucked over the whole of Scottish football for years (and withholding taxes from the country to boot) so fuck 'em right back. And they are, by and large, horrible. Turns out I'm not that nice. I hope in an ideal world that my mates get to go and find a club with a less odious history to support and the world becomes a better place.

(this will not happen)

Can we get a quick summary of your views on it all?

Report in today's Sun that their game on Saturday might be off as they can't afford to have it policed. Byeeeee!

Ready cash is going to be a huge problem for them. Attendances are sliding and, like us, most of their ticket income is already in. Rumour hazzit Whyte has flogged the catering. It costs around £300k to put a game on so it might be a struggle...

Where's the 3/4/5 million they got for Jelavic a fortnight ago?

£300k! How does that break down?

Monaco xpost

Can't remember where I first read it but it was broken down, I'll have a look. Most of it was policing, which might be stepped up if there's an angry bears protest.

Turns out the 300k figure was unique to "old firm" games.

http://videocelts.com/2012/02/blogs/police-question-for-rangers-v-kilmarnock-match says it's it low tens of thousands but the police may want payment up front to avoid any pennies in the pound rubbish once admin kicks in.

I've no idea why anyone supplies to football clubs on any other basis tbh

HMRC applying to have an administrator appointed, statement due shortly.

What if they go in and out of administration before the BIG tax case is ruled? They'd need to go straight back in and would be docked an extra 25 points (using Dundee's precedent of second administration). That would put them alongside ICT in 10th.

Can we get a quick summary of your views on it all?

tbh i can't say i care very much. the head-in-the-ground self-destructiveness of the last few years combined with the consistent scumminess of general business and playing practices haven't made for something i've been enthusiastic about being invested in, and it feels like so long since i was seriously invested that i only feel the tiniest sliver of a connection to the club as it is today.

Yeah, most of the Rangers fans I know are such through family ties and are basically scunnered or embarrassed out of it by now.

I wonder if Whyte's pulling a proper flanker here.

Rangers apparently transferred the £2.8m "wee tax bill" money to HMRC recently. They owe Whyte's company £18m and owe Ticketus £20-24m. Has he borrowed all that money to ensure HMRC can be outvoted in a CVA? Doing this now means the big tax bill doesn't factor, meaning HMRC own less than 25% of the debt and can be shafted into taking a fraction of what they are due.

Dunno what the end game there is once the big tax bill actually lands but it sounds like at least half of a strategy.