soulfulsaint Posted October 24, 2009 Report Share Posted October 24, 2009 (edited) As Mainstand has posted in another section Rangers have admitted today that the bank has taken charge of the club and there is a players meeting on Monday. These two things may be 'unconnected' but it raises the thought that they may have been in technical 'administration' when they played at Perth? Or at very least that the new Chairman has no real power and the banks manage all revenues in and out? ...doubt that the practice of docking points will ever apply to them... Edited October 24, 2009 by soulfulsaint Quote Link to comment Share on other sites More sharing options...
lampshade Posted October 24, 2009 Report Share Posted October 24, 2009 How good would that be. Quote Link to comment Share on other sites More sharing options...
PERTHPOWER Posted October 24, 2009 Report Share Posted October 24, 2009 As Mainstand has posted in another section Rangers have admitted today that the bank has taken charge of the club and there is a players meeting on Monday. These two things may be 'unconnected' but it rasies the thought that they may have been in technical 'administration' when they played at Perth? Or at very least that the new Chairman has no real power and the banks manage all revenues in and out? ...doubt that the practice of docking points will ever apply to them... Agree with Soulful, would very much doubt the docking of points from them. Will be interesting to see what changes transpire during rest of season though, especially around January. Quote Link to comment Share on other sites More sharing options...
Crazymofo Posted October 24, 2009 Report Share Posted October 24, 2009 Or at very least that the new Chairman has no real power and the banks manage all revenues in and out? Perhaps not, but at least he has a magnificently bald heid. Does that not count for something? Quote Link to comment Share on other sites More sharing options...
Dr Christmas Jones Posted October 24, 2009 Report Share Posted October 24, 2009 Its a farce.But some things will never change. Quote Link to comment Share on other sites More sharing options...
madsainty Posted October 24, 2009 Report Share Posted October 24, 2009 Aye, and this is the team that want to take England by storm...would the Conference League even take them with their finances???? Couldn't happen to a nicer bunch of bigots.... Quote Link to comment Share on other sites More sharing options...
slf Posted October 25, 2009 Report Share Posted October 25, 2009 braw Quote Link to comment Share on other sites More sharing options...
THE REBEL SAINT Posted October 25, 2009 Report Share Posted October 25, 2009 Third Division for the ****!!!!!!!!!!!!!!!!!!!!!!! :) Quote Link to comment Share on other sites More sharing options...
SJC Posted October 25, 2009 Report Share Posted October 25, 2009 We should have docked 3 points off them when we played Quote Link to comment Share on other sites More sharing options...
Guest Bertrand Posted October 25, 2009 Report Share Posted October 25, 2009 In all seriousness any other team in the league would b classed as being in administration so why not them? Are the exempt from the rules of the SPL? I dont care so much about if they were in trouble when they played us but things have to be done by the letter of the law - get the points docked and get them fired into the third division! 2010/2011 season SCL3 Rangers Vs Livingston, get in! Quote Link to comment Share on other sites More sharing options...
SJC Posted October 25, 2009 Report Share Posted October 25, 2009 In all seriousness any other team in the league would b classed as being in administration so why not them? Are the exempt from the rules of the SPL? I dont care so much about if they were in trouble when they played us but things have to be done by the letter of the law - get the points docked and get them fired into the third division! 2010/2011 season SCL3 Rangers Vs Livingston, get in! If they have not been placed in administration then they are not in administration Simples Quote Link to comment Share on other sites More sharing options...
Scott1884 Posted October 25, 2009 Report Share Posted October 25, 2009 Article i read said Murray was delaying publishing his company's accounts for 6 mths to hide the fact that he didn't have the funds to cover the club's £30m debts. If true then the club should be classed as technically insolvent surely. The new guy on the board is someone the bank uses to deal with businesses that are in financial difficulties. The club also denied that there is a consortium ready to buy the club.....therefore it looks like Rangers are BUST! Quote Link to comment Share on other sites More sharing options...
O'Rourke Posted October 25, 2009 Report Share Posted October 25, 2009 Fraud? Quote Link to comment Share on other sites More sharing options...
Bruno Strasser Posted October 25, 2009 Report Share Posted October 25, 2009 Aye, and this is the team that want to take England by storm...would the Conference League even take them with their finances???? Couldn't happen to a nicer bunch of bigots.... If it's good enough for Livingstone and Gretna it's good enough for this filth. Quote Link to comment Share on other sites More sharing options...
real bell 7 Posted October 25, 2009 Report Share Posted October 25, 2009 "funny to see if rangers go into admin now that murrays fecked off wie his cheque book" thats what i said in the david murray thread (in fitba chat) on 26 aug and ph1 lad seem to take the right hump with it moaning that i didnae read the story, i'm no one to say told u so but if more of this story comes out. Quote Link to comment Share on other sites More sharing options...
mainstand Posted October 25, 2009 Report Share Posted October 25, 2009 Article i read said Murray was delaying publishing his company's accounts for 6 mths to hide the fact that he didn't have the funds to cover the club's £30m debts. If true then the club should be classed as technically insolvent surely. The new guy on the board is someone the bank uses to deal with businesses that are in financial difficulties. The club also denied that there is a consortium ready to buy the club.....therefore it looks like Rangers are BUST! as they are part of the Murray Group and it looks like the Murray Group have underwritten the overdraft then they would be okay. Their accounting year ends on 30 June so they have until 30 December to file the accounts with Companies House. It may be taht the accounts will show they have net liabilities. It will be interesting to see what comes out. Quote Link to comment Share on other sites More sharing options...
fifefan Posted October 26, 2009 Report Share Posted October 26, 2009 How do they get away with it? Despite being in or close to administration they stayed in Gleneagles prior to the Saints game. Other teams would have travelled up on the day of the match. The game started at 12:30, I suspect that they would not need to be at McDiarmid before 10:30 and Glasgow is hardly any more than a few hours away at most. If they had to stay the night before any other team would have found a cheap hotel not an exclusive resort hotel. Maybe if the banks are looking after them then they should be looking at cutting the overnight stay business. Perhaps the vastly overpaid players should be asked to get to the away matches using their own transport and funding it themselves. Quote Link to comment Share on other sites More sharing options...
Mike180279 Posted October 26, 2009 Report Share Posted October 26, 2009 Perhaps the vastly overpaid players should be asked to get to the away matches using their own transport and funding it themselves.I think in fairness the majority of players are not on great wages at Rangers (compared to typical Scottish Side, Yes but certainly not in the market overall) Quote Link to comment Share on other sites More sharing options...
madsainty Posted October 26, 2009 Report Share Posted October 26, 2009 I hear the new chant around Castle Greyskull is 'To administration...and beyond....we have the power!!!'...ooops no we don't, the banks have the power now!! Rangers FC and Bankers...what a match made in heaven that is, two of the most hated institutions coming together in perfect harmony!! I got slagged by a Rangers supporting relative over the empty seats at McD for the last match, the usual pish bout our support being small etc etc...well you know what, I don't care because at least my club is Solvent and will be there in 5 years time for me to support...Will Rangers???? Maybe all the other clubs in the SPL could help Rangers on their way by boycotting Ibrox matches and choking off yet another revenue stream, really turn the screw on their finances!!! They owe £25m..in anyone's books thats INSOLVENCY!! Quote Link to comment Share on other sites More sharing options...
tony_polster Posted October 26, 2009 Report Share Posted October 26, 2009 I hear the new chant around Castle Greyskull is 'To administration...and beyond....we have the power!!!'...ooops no we don't, the banks have the power now!! Rangers FC and Bankers...what a match made in heaven that is, two of the most hated institutions coming together in perfect harmony!! I got slagged by a Rangers supporting relative over the empty seats at McD for the last match, the usual pish bout our support being small etc etc...well you know what, I don't care because at least my club is Solvent and will be there in 5 years time for me to support...Will Rangers???? Maybe all the other clubs in the SPL could help Rangers on their way by boycotting Ibrox matches and choking off yet another revenue stream, really turn the screw on their finances!!! They owe £25m..in anyone's books thats INSOLVENCY!! Man Utd are £600m + in debt yet they have the same solvency rating as us and the fakes - these things aren't always exactly as they seem. That £25m will be under-written (most likely by Murray) and you cant call the club insolvent until you can prove Murray doesn't have the cash. Quote Link to comment Share on other sites More sharing options...
soulfulsaint Posted October 26, 2009 Author Report Share Posted October 26, 2009 (edited) How do they get away with it? Despite being in or close to administration they stayed in Gleneagles prior to the Saints game. Other teams would have travelled up on the day of the match. The game started at 12:30, I suspect that they would not need to be at McDiarmid before 10:30 and Glasgow is hardly any more than a few hours away at most. If they had to stay the night before any other team would have found a cheap hotel not an exclusive resort hotel. Maybe if the banks are looking after them then they should be looking at cutting the overnight stay business. Perhaps the vastly overpaid players should be asked to get to the away matches using their own transport and funding it themselves. ...Legally as several posters state they are not in administration, but in serious debt and reliant on the bank for major decisions. Small point, they stayed in a luxury hotel in Dunkeld not Gleneagles, but still a gross waste of money in a recession. My apologies for suggesting that Saints may have had to pay - this is not true and I'm happy to correct it. I'm with Muzz nonetheless - 3rd Division. Edited October 26, 2009 by soulfulsaint Quote Link to comment Share on other sites More sharing options...
tony_polster Posted October 26, 2009 Report Share Posted October 26, 2009 ...Legally as several posters state they are not in administration, but in serious debt and reliant on the bank for major decsions. Small point, they sayed in a luxury hotel in Dunkeld not Gleneagles, but still a gross waste of meony in a recession. My apologies for suggesting that Saints may have had to pay - this is not true and I'm happy to correct it. I'm with Muzz nonetheless - 3rd Division. If they do go into administration.......................sorry stopped for a little prayer........wouldn't they only be docked 10 points? I understood Livi were relegated as they had been in administration previously. Quote Link to comment Share on other sites More sharing options...
Mike180279 Posted October 26, 2009 Report Share Posted October 26, 2009 I'm with Muzz nonetheless - 3rd Division.It would be interesting to see what happened with the TV Deal. Quote Link to comment Share on other sites More sharing options...
soulfulsaint Posted October 26, 2009 Author Report Share Posted October 26, 2009 If they do go into administration.......................sorry stopped for a little prayer........wouldn't they only be docked 10 points? I understood Livi were relegated as they had been in administration previously. ...yes that's right but never let facts get in the way of hounding the old firm... Quote Link to comment Share on other sites More sharing options...
henry hall Posted October 26, 2009 Report Share Posted October 26, 2009 I think the whole Murray thing is going to unravel like a Robert Maxwell scenario. Rangers are in £30m debt, but in the scheme of things ratio to turnover this would be like Killie having £1m debt or Dundee Utd similar. So its hardly insolvency I think that the whole Murray group and the cross company guarantees are the problem. The MIH group are really struggling and Rangers have saleable assets ie players and training ground which the banks could realise. If Rangers were a stand alone club trading only as a football team the bank would not be puting the same squeeze on them as they could clearly pay back the agreed funding. However I think all income streams are denied to them at the moment as the catering on matchdays is a Murray company, the car parking a murray company, Murray took the merchandising from JJB, etc, wheras if he hadnt done this im sure they would be OK. Who knows where it could end? Another Leeds Utd? or will scottish football tumble like a pack of cards? St Johnstone will be OK as Geoff is a very astute guy Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.