1556 replies to this topic

[Gothenburg83]

It is starting to get good!

http://www1.skysport...ble-for-Rangers

[Kowalski]

Quote

The club are bracing themselves for further, possibly severe sanctions when the SPL meet next Monday.
The hammer blow came after a financial expert warned that Rangers had just two days left to save their future. Top accountant Neil Patey said that time to set up the preferred option to keep the club solvent – a Company Voluntary Agreement – is fast running out.
Any CVA requires at least five weeks to run its course.
But if Rangers’ ownership and a creditors’ deal are not resolved by June 1, the club will once again be facing losses of up to £1million a month when the deal by players to accept a temporary 75 per cent pay cut runs out.
Add to that the administrators’ fees – which by yesterday had reached more than £1.6million – and the financial picture grows ever bleaker.
Patey, of Ernst and Young, said failure to strike a deal by Thursday could lead to:
●“Non-liquidation” buyers walking away because of the extra debts.
● Top stars being axed if they insist on wages being hiked back to previous levels.
● Four months of further administration.
● Millions more in fees to administrators.
Patey also warned of the difficulty Whyte could pose if he decides not to hand over his shareholding without a fight.
Patey warned: “I think it’s days and not weeks, as the June 1 deadline is quite important.
“The club will then be in the close season and there will be little income coming in. And, importantly, the players’ wages, which were at a reduced level, will defer back to full wages.
“That takes them back close to the £10million per annum operating loss that was stated when they went into administration.
Rangers fans’ spokesman John Macmillan said most fans were frustrated at the way the sale was being drawn out.
He said: “If the red tape means that June will bring further debt issues then I suggest that everyone involved gets the finger out.”

Somebody needs to just put them out of their misery.

[Kowalski]

Do they really expect that a club that has cheated, been mismanaged, and failed to pay it's bills be immune from punishment?  Their fans really are deluded.

[eFestivals]

 Kowalski, on 24 April 2012 - 10:04 AM, said:

Their fans really are deluded.

They are if they're wanting the "Blue Knights", which involves some of the very people who took Rangers very very deeply into the shit where the only get out for the owner was to take Whyte's money and run.

[Gothenburg83]

I look forward to the next we months if not weeks

[rexclark]

This is brilliant.

[Kowalski]

Best quote I read was about trying to disrupt the Scottish Cup Final:

"If 50 of us could get tickets for the game, at different entrances, we could handcuff ourselves to the turnstiles in a silent protest.
Like the suffragettes did trying to get votes for women"

[rexclark]

Could today be the day?

[eFestivals]

 rexclark, on 30 April 2012 - 10:06 AM, said:

Could today be the day?

for what?

[rexclark]

 eFestivals, on 30 April 2012 - 10:21 AM, said:

for what?

Word was today could be the day Rangers were finally liquidated but by the looks of things they'll limp on till the end of the season before going out of business. It's only a matter of time now.

[eFestivals]

 rexclark, on 30 April 2012 - 12:40 PM, said:

Word was today could be the day Rangers were finally liquidated but by the looks of things they'll limp on till the end of the season before going out of business. It's only a matter of time now.

I've not been following things closely, but I thought there was one 100% acceptable offer on the table (from a yank) and that the 'Blue Knights' (should be called the Blue Thieves ) were being urged to make a better offer by the administrators?

[rexclark]

 eFestivals, on 30 April 2012 - 01:07 PM, said:

I've not been following things closely, but I thought there was one 100% acceptable offer on the table (from a yank) and that the 'Blue Knights' (should be called the Blue Thieves ) were being urged to make a better offer by the administrators?

Well from what I hear, The Blue Knights don't have enough cash and the American fellow is going to put them into liquidation and probably strip their assets. There was supposed to be a meeting today with all the representatives from the SPL to decide what will happen with Rangers if they become a NewCo. I believe the meeting was cancelled due to the fact if they decide to kick Rangers into the 3rd division then there will be no way of them not going into liquidation, perhaps instantly. I believe they are waiting to see if they go into liquidation this week before deciding on what sanctions to bring in for them.

Either way it's a very interesting time for Scottish football, either Rangers will have to start from scratch in the 3rd Division or a NewCo will be accepted into the SPL and could cause a massive boycott of football in this country. We shall just have to see how it pans out.

[Kowalski]

Preferred bidder finally announced

"Mr Miller’s bid involves selling the club’s assets - including Ibrox, Murray Park and the playing squad - to a new company for £11.2m before most likely liquidating Rangers FC plc."

Sounds like an asset stripping exercise.  It'll be interesting to see if Miller comes under the due diligence that Whyte didn't in terms of whether he is "fit and proper".

[dondo]

Well what a weekend. Was back up in Scotland for the cup final and as a Jambo am a very happy man. Could of easily been 6 or 7 we put past them

[minute5072]

And more importantly, Saints are in Europe next season!

[rexclark]

Hibs were awful. I actually felt really sorry for their fans having to watch that.

[dondo]

rexclark, on 21 May 2012 - 01:00 PM, said:

Hibs were awful. I actually felt really sorry for their fans having to watch that.

Yes they were dire- I've been to and watched on TV a good deal of derbies over the 25 years and seen some bad Hibs teams but that was probably the worst