Dirthy Filthy Hun Scumbag Vermin (deceased), liquidated & Green abondons ship

[mizer]

Interesting wee read.

[Penfold]

RANGERS administrators Duff and Phelps asked the club’s players to play for free for the rest of the season, it has emerged. It is one of the ‘permutations’ floated by the administrators rejected by the Ibrox squad yesterday as parties met to address the £4.5 million shortfall in the club’s income as against expenditure across the next three months.

 

The black hole in the finances was expected to bring a raft of job losses among the first-team squad and at the club yesterday, but the administrators delayed an announcement as they sought some form of concensus on their cost-saving measures in talks attended by Ally McCoist, PFA Scotland president Tony Higgins, chief executive Fraser Wishart and the union’s lawyer.

 

The Rangers squad pushed for wage deferrals without limit of time, citing the example of Plymouth where salaries went unpaid for ten months until the English League Two team were able to come out of administration following a buy-out last October. That is not favoured by the Rangers administrations who feel essentially ‘parking a debt’ could dull the interest of potential buyers. The Rangers squad are understood to be unified in their opposition to any redundancies or permanent salary reductions, though it is believed McCoist and his backroom team Kenny McDowall and Ian Durrant are willing to accept them. The Ibrox players deny, though, that they were presented with the options of voting for a 75 per cent across the board wage cut, eight redundancies and a 50 per cent wage cut or 11 redundancies and a 30 per cent wage cuts as different scenarios that would allow the club to cover expenditure to May.

 

Footballers really are thick.

[glasgowdon]

Footballers really are thick.

 

KILL 'EM ALL.

[BobbyBiscuit]

A new twist in Rangers controversy: Club accused of misleading SFA on secret deals

By JOHN MCGARRY

Last updated at 12:34 AM on 2nd March 2012

Comments (0)

Share

 

Rangers stand accused of failing to properly register players after a former director revealed secretive payments had been consistently excluded from contracts lodged with the SFA.

The embattled Ibrox club are awaiting the outcome of the First Tier Tax Tribunal which will determine the legality or otherwise of Employee Benefit Trusts (EBTs).

Regardless of whether Rangers are hit with an additional bill of £49million from the so-called 'big tax case', it appears such payments were kept 'off the books' - in direct contravention of SFA registration rules.

 

It never rains but it pours: More accusations have been directed at the beleaguered Ibrox club

Former Ibrox director Hugh Adam, who had a 30-year association with the club until 2002, has told Sportsmail that the club's directors were aware of the arrangement - one he believes could have started as early as the mid-1990s.

'They weren't included in the contracts. They definitely weren't. That was the whole point of them,' he said. 'If they'd been included in the contracts, they would have had to have paid tax on them.

'I don't think a lot of the other directors knew an awful lot about it. David Murray kept everything to himself.

'The directors just wanted to sit in the directors' box. That's all. When I was on the board, I knew all about them.

'I just didn't know the details of them. They became accepted. 'The revenue were seriously challenging them at that point when I was a director.

 

Out: Ali Russell has been released from his role at the club

'People never really asked serious questions about them. "It's perfectly legal" was what they thought.

'It wasn't happening in Britain, so had nothing to do with Britain. All the directors heard about them but didn't take them seriously because they didn't appear in the books.'

Adam's revelation suggests a clear breach of the SFA rulebook - and is a potential embarrassment to current SFA president Campbell Ogilvie, who had a 27-year association with Rangers, many of them spent as secretary.

The SFA rule on registration states: 'All payments made to a player relating to his playing activities must be clearly recorded upon the relevant contract and/or agreement.

'No payment for his playing activities may be made to the player through a third party.'

Adam, the man who funded the redevelopment of Ibrox through Rangers pools, believes payments into discretionary trusts may have gone on well before the turn of the millennium.

It's understood the 'big tax case' relates to EBT payments from 2000 until 2009 but, when questioned if he heard of similar payments in the mid- 1990s, Adam confirmed: 'Without having any specialist knowledge, I'm pretty sure.

 

Bleak future: The Ibrox club are battling for survival

'People didn't want to know about them. There was a lot of that (EBTs) going on at the time (I was there).

'You knew it was cheating but some of them not only hoped but believed it was above board. 'It's this thing that when something happens it has to have a beginning and an end, but that wasn't the case with the overseas things.

'It was just something that crept up. It was considered important but not crucial. The fans didn't give a damn one way or another. You could argue that they knew about it but didn't think it was important.

'Maybe they never thought it was as much as it really was. And maybe it wasn't. I don't know if you remember radio stations from ships.

'I don't think they were making a fortune but they weren't costing a lot of money, so no one bothered.

'When I was asked for my opinion on the way the club had been run, I said it was quite obvious how it had got into trouble.'They were doing things they shouldn't have been doing.

'They (EBTs) were always regarded in my time as a bit of a joke. They were getting away with it but nobody really thought they'd get away wi th i t forever. '

It would be an offshore trust - almost like a boat. You could dodge your taxes that way. It wasn't something that you picked up the paper and read about. It was one at a time then grew on a gradual basis.

 

 

They're fucking fucked.

[manc_don]

Let the fireworks begin. I hope FJ has his salted popcorn at the ready  

[fatjim]

Let the fireworks begin. I hope FJ has his salted popcorn at the ready  

 

Sweet popcorn FTW.

 

salted popcorn makes me want to puke.

 

I might just have a bag of peanut M&Ms instead though.

[Penfold]

Campbell Ogilvie and Martin Bain held positions at the top of the SFA/SPL while all this was going on. Ogilvie's role even meant he was involved in in charge of checking regulations in relation to player contracts were adhered to. Clearly he knew this wasn't the case.

 

Surely this has to lead to significant reforms in the running of Scottish football. A perfect time to merge the SFA/SPL/SFL bodies and have it completely independant of clubs.

 

Scottish football needs a ruling body, not an enabling body.

[glasgow sheep]

They're fucking fucked.

 

Dear god did that guy actually listen to what he said?  Intellectual diarrhoea.

 

They weren't included in the contracts. They definitely weren't. That was the whole point of them,' he said. 'If they'd been included in the contracts, they would have had to have paid tax on them.

 

'I don't think a lot of the other directors knew an awful lot about it.

 

All the directors heard about them but didn't take them seriously because they didn't appear in the books.'

 

'You knew it was cheating but some of them not only hoped but believed it was above board. 'It's this thing that when something happens it has to have a beginning and an end, but that wasn't the case with the overseas things.

 

I said it was quite obvious how it had got into trouble.'They were doing things they shouldn't have been doing.

'They (EBTs) were always regarded in my time as a bit of a joke. They were getting away with it but nobody really thought they'd get away wi th i t forever. '

 

[Penfold]

Independent Inquiry Update

Friday, 02 March 2012

 

Stewart Regan, the Scottish FA Chief executive, has today provided an update on the progress of the Independent Inquiry into Rangers FC chaired by The Right Honourable Lord Nimmo Smith.

 

"We are now in the final stages of our independent inquiry into the situation concerning Rangers FC. The report by The Right Honourable Lord Nimmo Smith is expected to be completed next week and will go to a Special Board Meeting for consideration.

 

"It would be inappropriate to make any further comment at this stage in relation to the details gleaned from the inquiry, the potential contents of the report or any possible sanctions.

 

"We are, however, aware of the most recent allegations made against Rangers FC today by a former director of the club. We shall investigate this matter thoroughly before making any further comment."

 

http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=2111&newsCategoryID=36&newsID=9417

[manc_don]

http://rangerstaxcase.com/2012/03/02/time-for-leadership-at-sfa-spl/

 

Interesting read.

[bilbobaggins]

Looks like the rats are deserting the ship to me. I hope BarL has wheelchair access

[Kowalski]

Rangers administrators are pursuing the club's owner Craig Whyte for up to £9m in money that was contractually promised at the time of his May 2011 takeover.

 

Lawyers acting for Duff & Phelps, who were appointed as administrators on 14 February, have gained a court order to seize a preliminary £3.6m from Whyte's solicitors Collyer Bristow.

 

That money is now in a bank account belonging to law firm Taylor Wessing. Duff & Phelps will ask a high court judge to release it to them on 8 March.

 

These legal moves come against a backdrop of enormous uncertainty at Ibrox, with a statement on drastic cuts to the playing squad being imminent.

 

With a projected shortfall in funding to the end of the season of £4.5m, the administrators desperately need this money - which they claim should be in the club's bank account anyway - to keep the Scottish champions in business.

 

The consent order against Collyer Bristow was granted in London on Thursday and is the first product of a concerted effort by Duff & Phelps to gain access to all of the club's assets - a process they claim has been hampered by Whyte.

 

The controversial entrepreneur's legal advisors deny this and it is hoped that they will not contest the court order next week.

 

That does not mean, however, other parties to this complicated picture might not object to the Collyer Bristow cash being passed to Rangers.

 

Ticketus, the finance company that loaned Whyte £24m against future season-ticket sales, is just one party that may object to this transfer, although a statement from the London-based firm on Thursday suggested it wanted to safeguard its position by dealing directly with any potential new bidder for the Old Firm institution.

 

The good news for Rangers' hard-pressed fans and staff, however, is that this £3.6m can no longer be accessed by Whyte.

 

The next challenge for Paul Clark and David Whitehouse of Duff & Phelps, however, will be to get their hands on the £5m+ they claim Whyte owes the club as part of his legally-binding takeover agreement. This shortfall in "breaches of undertaking" was flagged up by former Rangers chairman Alastair Johnston last week.

 

Without some clarity on this matter it will be very difficult for Duff & Phelps to engage in meaningful discussions with individuals or groups interested in buying the Glasgow giants out of administration.

 

A March 16 deadline has been set for expressions of interest in the club and it is believed that up to six potential bidders have emerged with serious plans.

 

Just how serious those plans can be, of course, is open to debate whilst Rangers await the verdict of a tax tribunal that could result in the club being hit with a bill of anything up to £75m in back taxes, interest and fines.

 

The only hope for Rangers fans is that a deal can be struck between a new owner and the taxman, with the key consideration here probably being the return the public purse will get from the club as a going concern or a fire sale at the club.

[maverick sheep]

taylor wessing? they also represent the tchenguiz brothers...

[Kowalski]

Rangers players have been told to go home and prepare for Saturday's match against Hearts as discussions on possible staff cuts continue.

 

With the club's administrators mulling over various options, players have been in talks with their union.

 

[capitalsharpie]

 

Is this not the continuation of the financial cheating theme?

 

The hun have a larger squad of generally better quality playing staff than most spl clubs (I know, I know,its a can of worms and a topic of a seperate debate), but cannot afford these players on thier books, therefore this is an untenable position, but yet they can KEEP these players to fight and play another day?

 

Maybe we could piss a 10 or 15  million up a wall for a shot of one season of glory next season? :hammer:

 

:haterangers: :haterangers: :haterangers: :haterangers:

 

[dickofthedons]

Just read there was an option for the whole staff/players to take a 75% pay cut with no redundancies which is likely to be refused.

 

What a bunch of odious cunts. That way no one loses their job but they refuse to accept meaning people will now lose their job. I don't give one flying fuck about the club or anyone to do with it but surely at a time like this you all knuckle down as a team. Whats 75% to most of their players?? Still a 4 figure sum each week... Shocking really

[glasgow sheep]

Is this not the continuation of the financial cheating theme?

 

The hun have a larger squad of generally better quality playing staff than most spl clubs (I know, I know,its a can of worms and a topic of a seperate debate), but cannot afford these players on thier books, therefore this is an untenable position, but yet they can KEEP these players to fight and play another day?

 

Maybe we could piss a 10 or 15  million up a wall for a shot of one season of glory next season? :hammer:

 

:haterangers: :haterangers: :haterangers: :haterangers:

 

Of course it is.

These guys are meant to be running the club in the interest of the creditors and making sure debts are paid to numerous small businesses as well as SPL clubs who are out of pocket. Instead they are fannying about pandering to the likes of Healy and McCulloch

[capitalsharpie]

There is presedent here. What happened to the playing squads with Dundee, Motherwell and livingstone?

[Kowalski]

Rangers go into administration: 14th February

 

Portsmouth go into administration: 17th February

 

People who have left Rangers so far: 2

 

People who have left Portsmouth so far: 30

[capitalsharpie]

So what we are seeing now is the SFA/rangers protection racket

[maverick sheep]

Just read there was an option for the whole staff/players to take a 75% pay cut with no redundancies which is likely to be refused.

 

What a bunch of odious cunts. That way no one loses their job but they refuse to accept meaning people will now lose their job. I don't give one flying fuck about the club or anyone to do with it but surely at a time like this you all knuckle down as a team. Whats 75% to most of their players?? Still a 4 figure sum each week... Shocking really

 

why would you take a 75% wage cut if you were a mercenary cunt whose next wage depended on the wage you earn when you leave el scumo?

 

[CtS]

Just read there was an option for the whole staff/players to take a 75% pay cut with no redundancies which is likely to be refused.

 

What a bunch of odious cunts. That way no one loses their job but they refuse to accept meaning people will now lose their job. I don't give one flying fuck about the club or anyone to do with it but surely at a time like this you all knuckle down as a team. Whats 75% to most of their players?? Still a 4 figure sum each week... Shocking really

 

I completely disagree.

 

There's absolutely no way I'd accept any sort of pay cut to try to save someone else's job, I'd sooner take my chances with the administrators and redundancy.  It's not like anyone's going to struggle to find employment with a new club.

[TENEMENTFUNSTER]

Seems the destination of several million pounds would define who goes/stays and when.

[BobbyBiscuit]

Billy Dodds:

 

even if they are guilty of the most orchestrated campaign of cheating in football history, the SPL need Rangers so we should let them off with it

 

The man is an absolute cunt.

[scotfree]

WTF!?!?!?