What will you do if new Rangers are allowed straight into SPL?  

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Montrose - as far as i can understand it, Whyte was effectively a Man U style takeover, in that when he came in, the debt of Rangers PLC transferred to his holding company Wavetower, which owns 85% of Rangers. Wavetower is 100% owned by a company in the British Virgin Islands, of which, Whyte is believed to be the owner. Someone could come in and take on all the debt, but the fact remains that circa 50 million would be due immediately. HMRC dont do payment terms. They wind up the business if payment isnt forthcoming.

ODAB - the website has been dealing in facts only. You can view the takeover agreements and various bank and company house paperworks which give these facts along with the Rangers accounts. All the info is there - its just a case of unraveling it.

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Montrose - as far as i can understand it, Whyte was effectively a Man U style takeover, in that when he came in, the debt of Rangers PLC transferred to his holding company Wavetower, which owns 85% of Rangers. Wavetower is 100% owned by a company in the British Virgin Islands, of which, Whyte is believed to be the owner. Someone could come in and take on all the debt, but the fact remains that circa 50 million would be due immediately. HMRC dont do payment terms. They wind up the business if payment isnt forthcoming.

ODAB - the website has been dealing in facts only. You can view the takeover agreements and various bank and company house paperworks which give these facts along with the Rangers accounts. All the info is there - its just a case of unraveling it.

£75 million is not fact. Where exactly are they getting their facts from? Or could it be that some the "experts" are merely giving their take on it? But then again if the website says it is only dealing with fact then it must be fact.

Edited by ODAB

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I see they're close to re-signing Daniel Cousin. Told a Gers mate of mate of mine they're scraping the bottom of the barrel, only for another Gers fan to say "he's still a better goal scorer than Sandancer". Truth is, Sandaza has scored more goals in this season than Cousin has since he left Rangers in 2008. I didn't think Cousin had suffered such a fall from grace, if you could call it that! played for Hull then the Greek league and then had to make do with getting games from a local team in Gabon just to get enough game time to make the Gabon squad for the African Cup of Nations....pff desperate or what!

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Rangers will go into administration, all whyte's calculations are based on this scam! The big laugh would be if he 'won' the tax case..........love to see his face:laugh::laugh::laugh::laugh:

Shite I'm afraid, well certainly the bit about Whyte's calculations. The wish is the father of the thought with so much that has been said about this.

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I see they're close to re-signing Daniel Cousin. Told a Gers mate of mate of mine they're scraping the bottom of the barrel, only for another Gers fan to say "he's still a better goal scorer than Sandancer". Truth is, Sandaza has scored more goals in this season than Cousin has since he left Rangers in 2008. I didn't think Cousin had suffered such a fall from grace, if you could call it that! played for Hull then the Greek league and then had to make do with getting games from a local team in Gabon just to get enough game time to make the Gabon squad for the African Cup of Nations....pff desperate or what!

Fran as actual scored more goals for saints this season, than Daniel had scored for the current buns in his only season for them.

Cousins played 28 games 11 goals

Fran played 21 games 14 goals.

So yet again rangers fans get it wrong.

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ODAB - the tax bill has been publicly revealed in court documents. circa $50 million. The floating charge owned by Whyte is also public on documents filed with Companies House and on their latest (unaudited) accounts. Hence the figure $75m.

There is also rumors they owe a LOT more than this to other creditors, but as Whyte isn't allowing access to audited numbers, this is all speculation.

Of course they could win the tax case (pigs might fly as well) but they would still be staring down the barrel of debts of $25m plus, with little in the way of ticket income for the next 3 - 4 years. (the ticketus deal has also been publicly confirmed by Whyte)

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Shite I'm afraid, well certainly the bit about Whyte's calculations. The wish is the father of the thought with so much that has been said about this.

Why is it shyte? Why else would he buy RFC? Are you telling me he did not know about the tax bill or the reality of RFC's predicament? Admin is a scam to clear debts, Whyte has put dozens of companies into admin (and stripped out anything worthwhile before hand!) The conspiracy theory is he is working for Murray. FFs everyone has known RFC is insolvent and has been for years, Whyte is there to fleece what he can and wriggle out of the debts, Boyle did it at Motherwell, Marr did it at Dundee, the only reason Romanov has not done it (yet) is because the debt at Hearts is to his companies.

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Why is it shyte? Why else would he buy RFC? Are you telling me he did not know about the tax bill or the reality of RFC's predicament? Admin is a scam to clear debts, Whyte has put dozens of companies into admin (and stripped out anything worthwhile before hand!) The conspiracy theory is he is working for Murray. FFs everyone has known RFC is insolvent and has been for years, Whyte is there to fleece what he can and wriggle out of the debts, Boyle did it at Motherwell, Marr did it at Dundee, the only reason Romanov has not done it (yet) is because the debt at Hearts is to his companies.

There is no way that Whyte has bought Rangers without confidence that he can line his own pockets from it. In the business world, the ones who make money out of other peoples misfortune never change their spots. Administration and asset stripping is the only way this will happen.

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There is no way that Whyte has bought Rangers without confidence that he can line his own pockets from it. In the business world, the ones who make money out of other peoples misfortune never change their spots. Administration and asset stripping is the only way this will happen.

Exactly Montrose, I find it inconceivable that Whyte bought Rangers only to open the books and think 'phuuuuuk....what a mess! we may have to go into administration!' :laugh: - admin is the only plan in town and has been for a number of years.

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Why is it shyte? Why else would he buy RFC? Are you telling me he did not know about the tax bill or the reality of RFC's predicament? Admin is a scam to clear debts, Whyte has put dozens of companies into admin (and stripped out anything worthwhile before hand!) The conspiracy theory is he is working for Murray. FFs everyone has known RFC is insolvent and has been for years, Whyte is there to fleece what he can and wriggle out of the debts, Boyle did it at Motherwell, Marr did it at Dundee, the only reason Romanov has not done it (yet) is because the debt at Hearts is to his companies.

I'm telling you Mr Whyte has a detailed buisness plan for Rangers successfully defending their tax case. People can assume all they want, they can bring up figures and claim in great detail what "is" going to happen. But 90% of what has been said on the subject is pish. As I've said, the wish is the father of the thought.

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Like many others I think Whyte's grand plan is to put the club into administration once the tax bill is confirmed.

It will be a Motherwell/Dundee/Livi situation, just on a larger scale and the creditors will be left high and dry.

Whyte will then make an offer to the administrator for the club and start afresh...sad state for one of Scotland's biggest clubs to get into.

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Like many others I think Whyte's grand plan is to put the club into administration once the tax bill is confirmed.

It will be a Motherwell/Dundee/Livi situation, just on a larger scale and the creditors will be left high and dry.

Whyte will then make an offer to the administrator for the club and start afresh...sad state for one of Scotland's biggest clubs to get into.

When Whyte bought Rangers I said to and Ibrox ST holding friend that something wasn't right and he more than likely was not going in to try and rescue the club from years of MIH mis-mangement in the way the fans thought. From what I have seen and read in the media it would make sense if Whyte's plan was to become the single biggest creditor (barring HMRC), put the club into admin, either clear debts through "X" amount in the pound or a Phoenix club and then sell them on at, what he hopes, would be a profit to himself.

It is the only thing that could make sense.. ODAB seems to be knowlegdable on this so he may know the answer, but was there not something in the press that in the takeover agreement that if Whyte did not follow through on certain obligations he would have to right off his paying off HBOS and/or control would revert to MIH? If the former then he is no longer major creditor and his whole crazy plan goes up in smoke.

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