The Rangers soap opera goes on and on.

[Hearts007]

 

Makes it all the more likely then that he's not the white knight they're looking for. You'd have to be certifiably mad to hand over millions and not get control.

mind you I wouldn't put it past Dungcaster and co still to pass him as "fit and Proper" and if they do they need to walk and should have done so already

[Davie749]

 

 

Makes it all the more likely then that he's not the white knight they're looking for. You'd have to be certifiably mad to hand over millions and not get control.

 

He can always buy the shares and appoint someone to run it for him.

 

But he would be off his trolley to sink millions into Sevco for no return, unless he hates his kids and doesn't want them getting their hands on his inheritance.

[Sub4TiddlerMurray]

As much I hate to say it, Celtic have shown a more sensible way to be a old firm team of late (at least in how the club is run financially.) Its nothing to radical, just buying low and sell high (if possible,) and keep a firm hold of wages.

 

excellent point. Celtic are guaranteed champions league football and don't need to gamble high stakes to win. it might be boring for their fans but they could build a huge cash pile speculating on rising stars rather than big name signings. 3 or 4 years of unchallenged dominance and plenty of mullah rolling in. wow, can i have some shares please

[Grado]

Small bit in the metro today saying Rangers fans have contacted Supporters direct scotland for advice on a fans take over after monitoring FoH progress.

[Mysterion]

The biggest problem Rangers supporters will have is that there are too many loud mouthed morons who will derail any sensible actions. They actually need a group like The FoH doing the groundwork.

 

I see the biggest problem being that they won't be able to get the fans "together" to build funds. If they do then the problem becomes less about funds and more about how painful it will be for Rangers fans as they line the pockets of the Spivs as they buy out their shares.

[Hagar the Horrible]

So from companies house, they have confirmed that Whyte has been appointed as a Director of Sevco 5088, Sevco 5088 were the company that agreed the bid for Oldco, but somehow Sevco Scotland ended up with the stock/assets. Now if Green who was a director until he resigned on the 14th November last year and then Whyte and Earley also terminated their director status on the 31st Jan this year, then within a week both are re-appointed directors again, is there something on the cards and is there another twist in this soap opera? Why were Green, Whyte and Earley all still directors of a company that was just a shell? Why not disband the company, especially IF Green duped Whyte. This all does show that there is a relationship between these chancers regardless if its amicable or not!!!!!!!!!!!!!!

[DETTY29]

So from companies house, they have confirmed that Whyte has been appointed as a Director of Sevco 5088, Sevco 5088 were the company that agreed the bid for Oldco, but somehow Sevco Scotland ended up with the stock/assets. Now if Green who was a director until he resigned on the 14th November last year and then Whyte and Earley also terminated their director status on the 31st Jan this year, then within a week both are re-appointed directors again, is there something on the cards and is there another twist in this soap opera? Why were Green, Whyte and Earley all still directors of a company that was just a shell? Why not disband the company, especially IF Green duped Whyte. This all does show that there is a relationship between these chancers regardless if its amicable or not!!!!!!!!!!!!!!

Until Rangers pay off Whyte (to the value of Ticketus at least) or there is eventually a court case to dtermine who really own the assets, then Whyte really is the elephant in the room. And until he goes away Rangers can't do much. Can't raise finance against the assets and can't really buy the club over, unless the club and assets are separated.

 

Rock and a hard place.

[Armageddon]

Until Rangers pay off Whyte (to the value of Ticketus at least) or there is eventually a court case to dtermine who really own the assets, then Whyte really is the elephant in the room. And until he goes away Rangers can't do much. Can't raise finance against the assets and can't really buy the club over, unless the club and assets are separated.

 

Rock and a hard place.

 

I wonder what sanctions will be placed on the club when it's confirmed that he's still the owner and lies have been told to gain acceptance to SFL (as it was then that he wasn't involved in any way).

[AllyjamboDerbyshire]

 

 

 

I'm no apologist for them, but fair play if they actually manage it. The figures below look achievable, although surely if they'd started a year ago they'd be in a much stronger position?

 

"Head of SDS Paul Goodwin claimed last week that a scheme involving around 25,000 supporters handing over around ?20 a month could eventually hand the Rangers support control."

 

Although I'd be ******* livid when the inevitable lie about them being the first fans to think of this gets spread about the media like horse shite on a farmer's driveway.

Of course, this totally ignores the fact that the price of shares will automatically rise once it's known there are buyers, desperate buyers, out there.

[I.T.K]

So from companies house, they have confirmed that Whyte has been appointed as a Director of Sevco 5088, Sevco 5088 were the company that agreed the bid for Oldco, but somehow Sevco Scotland ended up with the stock/assets. Now if Green who was a director until he resigned on the 14th November last year and then Whyte and Earley also terminated their director status on the 31st Jan this year, then within a week both are re-appointed directors again, is there something on the cards and is there another twist in this soap opera? Why were Green, Whyte and Earley all still directors of a company that was just a shell? Why not disband the company, especially IF Green duped Whyte. This all does show that there is a relationship between these chancers regardless if its amicable or not!!!!!!!!!!!!!!

 

When you say "Whyte has been appointed as a Director of Sevco 5088" was that recently or about 18+/- months ago??

[marshallschunkychicken]

When you say "Whyte has been appointed as a Director of Sevco 5088" was that recently or about 18+/- months ago??

 

Looks like there's a game being played. Whyte and Aidan Earley have been appointed (and the registered office changed) a number of times, only for it to be changed back to what it was previously.

 

My guess is that CW is registering himself and Earley, and putting the office details as offices under their control, only for *someone*, probably to do with Charles Green or The Rangers, changing it at a later date. Companies House seem to be just filing the notifications as they are received.

Edited February 6, 2014 by marshallschunkychicken

[I.T.K]

Looks like there's a game being played. Whyte and Aidan Earley have been appointed (and the registered office changed) a number of times, only for it to be changed back to what it was previously.

 

My guess is that CW is registering himself and Earley, and putting the office details as offices under their control, only for *someone*, probably to do with Charles Green or The Rangers, changing it at a later date. Companies House seem to be just filing the notifications as they are received.

 

But when did all this happen? This year or long ago.

 

I'm interested in is if Whyte has any new dealings with any part of Rangers new or old!

[Hagar the Horrible]

 

 

 

When you say "Whyte has been appointed as a Director of Sevco 5088" was that recently or about 18+/- months ago??

 

No yesterday, Ealey the day before, but they both quit as directors on the 31st Jan this year, but within a week were both back on, and green only resigned November last year, this is all current

[Footballfirst]

But when did all this happen? This year or long ago.

 

I'm interested in is if Whyte has any new dealings with any part of Rangers new or old!

 

These are recent changes. There are clearly different people submitting director and address changes for the past couple of years. Here's a selection of documents held at Companies House

 

AP01 04/02/2014 DIRECTOR APPOINTED MR CRAIG THOMAS WHYTE

AP02 03/02/2014 CORPORATE DIRECTOR APPOINTED LAW FINANCIAL LIMITED

AD01 03/02/2014 REGISTERED OFFICE CHANGED ON 03/02/2014 FROM, 35 VINE STREET, LONDON, EC3N 2AA

AP01 03/02/2014 DIRECTOR APPOINTED MR AIDAN CHAD EDMUND EARLEY

AD01 31/01/2014 REGISTERED OFFICE CHANGED ON 31/01/2014 FROM, 48 SKYLINES VILLAGE, LIMEHARBOUR, LONDON, E14 9TS

TM01 31/01/2014 APPOINTMENT TERMINATED, DIRECTOR AIDAN EARLEY

TM01 31/01/2014 APPOINTMENT TERMINATED, DIRECTOR CRAIG WHYTE

TM01 14/11/2013 APPOINTMENT TERMINATED, DIRECTOR CHARLES GREEN

TM01 14/11/2013 APPOINTMENT TERMINATED, DIRECTOR CHARLES GREEN

AD01 14/11/2013 REGISTERED OFFICE CHANGED ON 14/11/2013 FROM, 35 VINE STREET, LONDON, EC3N 2AA

DS02 12/11/2013 DISS REQUEST WITHDRAWN

SOAS(A) 08/08/2013 VOLUNTARY STRIKE OFF SUSPENDED

SOAS(A) 03/05/2013 VOLUNTARY STRIKE OFF SUSPENDED

AD01 19/04/2013 REGISTERED OFFICE CHANGED ON 19/04/2013 FROM, 35 VINE STREET, LONDON, EC3N 2AA, ENGLAND

AD01 17/04/2013 REGISTERED OFFICE CHANGED ON 17/04/2013 FROM, 48 SKYLINES VILLAGE, SKYLINES VILLAGE LIMEHARBOUR, LONDON, E14 9TS, ENGLAND

AD01 12/04/2013 REGISTERED OFFICE CHANGED ON 12/04/2013 FROM, 35 VINE STREET, LONDON, EC3N 2AA, UNITED KINGDOM

AP01 12/04/2013 DIRECTOR APPOINTED AIDAN CHAS EARLEY

AP01 12/04/2013 DIRECTOR APPOINTED MR CRAIG THOMAS WHYTE

GAZ1(A) 15/01/2013 FIRST GAZETTE NOTICE FOR VOLUNTARY STRIKE-OFF

DS01 07/01/2013 APPLICATION FOR STRIKING-OFF

AP01 04/05/2012 DIRECTOR APPOINTED CHARLES ALEXANDER GREEN

[Hagar the Horrible]

Law Finance Ltd has Craig Whyte as a director along with a Mr D Ware, and another company Gold Manson Ltd.

 

Also note that Sevco 5088 has a statement of capital dated 14/11/13 as ?10000001 GBP .......Eh?

[Don Dan]

 

 

These are recent changes. There are clearly different people submitting director and address changes for the past couple of years. Here's a selection of documents held at Companies House

 

AP01 04/02/2014 DIRECTOR APPOINTED MR CRAIG THOMAS WHYTE

AP02 03/02/2014 CORPORATE DIRECTOR APPOINTED LAW FINANCIAL LIMITED

AD01 03/02/2014 REGISTERED OFFICE CHANGED ON 03/02/2014 FROM, 35 VINE STREET, LONDON, EC3N 2AA

AP01 03/02/2014 DIRECTOR APPOINTED MR AIDAN CHAD EDMUND EARLEY

AD01 31/01/2014 REGISTERED OFFICE CHANGED ON 31/01/2014 FROM, 48 SKYLINES VILLAGE, LIMEHARBOUR, LONDON, E14 9TS

TM01 31/01/2014 APPOINTMENT TERMINATED, DIRECTOR AIDAN EARLEY

TM01 31/01/2014 APPOINTMENT TERMINATED, DIRECTOR CRAIG WHYTE

TM01 14/11/2013 APPOINTMENT TERMINATED, DIRECTOR CHARLES GREEN

TM01 14/11/2013 APPOINTMENT TERMINATED, DIRECTOR CHARLES GREEN

AD01 14/11/2013 REGISTERED OFFICE CHANGED ON 14/11/2013 FROM, 35 VINE STREET, LONDON, EC3N 2AA

DS02 12/11/2013 DISS REQUEST WITHDRAWN

SOAS(A) 08/08/2013 VOLUNTARY STRIKE OFF SUSPENDED

SOAS(A) 03/05/2013 VOLUNTARY STRIKE OFF SUSPENDED

AD01 19/04/2013 REGISTERED OFFICE CHANGED ON 19/04/2013 FROM, 35 VINE STREET, LONDON, EC3N 2AA, ENGLAND

AD01 17/04/2013 REGISTERED OFFICE CHANGED ON 17/04/2013 FROM, 48 SKYLINES VILLAGE, SKYLINES VILLAGE LIMEHARBOUR, LONDON, E14 9TS, ENGLAND

AD01 12/04/2013 REGISTERED OFFICE CHANGED ON 12/04/2013 FROM, 35 VINE STREET, LONDON, EC3N 2AA, UNITED KINGDOM

AP01 12/04/2013 DIRECTOR APPOINTED AIDAN CHAS EARLEY

AP01 12/04/2013 DIRECTOR APPOINTED MR CRAIG THOMAS WHYTE

GAZ1(A) 15/01/2013 FIRST GAZETTE NOTICE FOR VOLUNTARY STRIKE-OFF

DS01 07/01/2013 APPLICATION FOR STRIKING-OFF

AP01 04/05/2012 DIRECTOR APPOINTED CHARLES ALEXANDER GREEN

 

It's pretty obvious all these guys talk to each other quite regularly. They must still be hovering around The Rangers for the admin2 announcement.

 

Edit ?1000001 could be their value of Ibrox and Murray Park. I'm guessing here.

Edited February 6, 2014 by Dannie Boy

[Hagar the Horrible]

Gold Manson ltd are registered in Florida and have one director....Media Litigation ltd who are registered in London and have 2 directors, Gold Manson Ltd and Craig Whyte. How does Whyte keep track of these companies?

[Footballfirst]

I'm interested in is if Whyte has any new dealings with any part of Rangers new or old!

 

There was a declaration made to AIM on 22nd April last year which stated that SEVCO 5088 was a subsidiary of RIFC

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RFC&ArticleCode=sz4vatgw&ArticleHeadline=Director_Declaration

 

This was followed two days later with a "clarificashun" of its trading status

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RFC&ArticleCode=tbzvzd38&ArticleHeadline=Response_to_media_speculation

 

It was also referenced in the last accounts re related party transaction and contingent liabilities

28. RELATED PARTY TRANSACTIONS

The following balances were novated from Sevco 5088 Limited (a company of which Charles Green was the sole shareholder and hence a related party)

on 29 May 2012 to RFCL, hence the dates are before incorporation of RIFC plc:

? On 11 May 2012, Imran Ahmad, an ex-director of RFCL, provided a loan of ?200,000. ?178,000 was repaid on 15 August 2012 and ?22,000 was

converted into ordinary share capital of RFCL. Imran Ahmad also received an arrangement fee of ?50,000 relating to this loan.

? On 21 May 2012, Charles Green, the ex-CEO of the Group?s Parent Company provided a loan of ?25,000. No interest accrued on this balance and this

was repaid on 15 August 2012.

On 14 June 2012, Sevco 5088 Limited entered into agreements for no consideration to legally reassign its beneficial interest in funding placing letters

held and to novate the trade and assets purchase agreement with RFC 2012 plc (in administration), to Sevco Scotland Limited (now The Rangers Football

Club Ltd).

 

29. CONTINGENT LIABILITIES (continued)

On 28 May 2013, a further letter before claim was sent to (inter alia) The Rangers Football Club Limited and Rangers International Football Club plc on

behalf of Craig Whyte, Aidan Earley and (purportedly) Sevco 5088 Limited. The Board is of the view that the claims set out in the letter before claim are

entirely unsubstantiated based on legal advice received to date by the Board and the outcome of the Investigation.

[colinmaroon]

Law Finance Ltd has Craig Whyte as a director along with a Mr D Ware, and another company Gold Manson Ltd.

 

Also note that Sevco 5088 has a statement of capital dated 14/11/13 as ?10.000001 GBP .......Eh?

 

See what happens when you miss out the decimal point!

[I.T.K]

Churchill ? Trainers ?

 

Mark Twain, boy ... http://thinkexist.co...ile/189781.html

 

?A lie can travel halfway around the world while the truth is still putting on its shoes?

 

Just spotted this....

 

"90% of internet quotes are made up!" Abraham Lincoln. :-D

[I.T.K]

No yesterday, Ealey the day before, but they both quit as directors on the 31st Jan this year, but within a week were both back on, and green only resigned November last year, this is all current

 

Thanks... really interesting that Whyte and co are still hanging around 'the crime scene'.

[Footballfirst]

The Statement of Capital dated 14/11/13 actually reflected the position at 29/03/13

 

It showed the original shareholder of a single ?1 share as "7Side Secretarial Limited"

.... and Law Financial Limited as holding 10M shares of ?1.

 

Previous shareholders were listed as Korrissa Capital Inc,, Willow Int., and Liberty Capital Markets Ltd., each of whom held 5M shares at different times.

[graygo]

The latest blog from that Irish named bloke Phil Mcsomethingorother

 

http://www.philmacgiollabhain.ie/escape-to-austerity/#more-4367

[Sidsnot]

That Phil guy with the long surname blogged this recently,seems like the head honcho will head out the exit door pretty soon.

 

Escape to austerity.

Someone has to drive the bus.

Ultimately there has to be a person in charge and in a modern football club that means the Chief Executive Officer not the first team manager.

In the business affairs of RIFC that should be Graham Wallace and so far it has not been that way.

Yesterday he was unavailable to anyone in the firm and there was no explanation given.

Of course there could be a myriad of reasons for his absence.

However, on Tuesday he made it very clear to board members that the current situation he was working under was intolerable.

He told them that it was either new rules, his rules or they get another CEO.

If he is back at his desk today then it will be under that new dispensation and he will be doing the job that was explained to him when he accepted it last year.

As has been stated here already the RIFC CEO feels that he is not being allowed to do his job as he sees fit.

He thought he would have had a free hand to cut costs, but he was wrong on that score.

That hasn?t happened and apart from recently taking the pre-paid credit cards off of senior members of staff there has been little savings achieved.

The transfer window for Sevco was a comedy of errors.

There is no conspiracy theory that fits the Lee Wallace debacle.

Quite simply they weren?t offered enough money to make any difference to their overall predicament.

The initial fee was ?400,000 and that was in two tranches long term add-ons would have doubled that.

Moreover they couldn?t find any club to take Ian Black, Dean Shiels or David Templeton.

These players were available for free or a nominal sum, but there were no takers.

Clubs like Peterborough were contacted, but no deal on any of them.

The selective leaking by senior members of staff has also impacted on the ability of Wallace to do his job.

This is particularly true of his attempt to get a pay cut from the players last month.

What has not been revealed heretofore is that this was part of an across the board pay cut for all staff including Wallace.

However once it was leaked other departments, who didn?t know of this plan, were shocked and it became impossible to sell it to them.

This was the first time that Wallace had to be talked out of resigning.

It also bounced him into making a statement about there being no chance of any Administration.

This is because he was in the process of going to the City of London to seek the finance to help him keep the lights on and to re-structure the company by way of redundancy payments etc.

When a company is in that state of RIFC/Sevco then it costs money in the short term to save it long term.

Of course it is not a good idea to ask the money men in the Square Mile for their cash if you are planning an insolvency event as a possible contingency plan.

I understand that Administration is now Graham Wallace?s preferred option simply because he cannot get finance to keep the operation going.

A properly run Administration will allow contracts to be terminated cost free.

The hinge factor in this entire Sevco drama may turn out to be Graham Wallace.

They have a man of the moral rectitude and he simply wants to be allowed to do his job.

Finally they have someone with real dignity and he becomes the problem when actually he is the solution.

He is constrained by the culture of the place where many of the senior staff live on the tab without contributing very much at all.

A club operating out of the stadium that John Brown played for with Graham Wallace at the helm would live within its means and pay its taxes.

As of three days ago VAT due to Her Britannic Majesty was an ?outstanding item?.

Outstanding guys, just outstanding?

When the VAT question was put to Sevco media this week by a journalist working for a Sunday paper ?no comment? was the reply.

Graham Wallace is a straight arrow who wants to run a viable business operation.

However he hasn?t, so far, been allowed to do that.

I believe that he was sold the job on a somewhat false prospectus.

He might even feel trapped.

Therefore it would come as no surprise to me if he wanted to tunnel to freedom.

[Sidsnot]

Apologies graygo,I never saw your post.

[PortyJambo]

I see Sally is having a dig at the SPFL for the final being at Parkhead and not Ibrox. Playing to the hordes again in trying to take on the role of "victims" from Celtic.

 

http://www.bbc.co.uk/sport/0/football/26072180

[Maiden Gorgie]

I see Sally is having a dig at the SPFL for the final being at Parkhead and not Ibrox. Playing to the hordes again in trying to take on the role of "victims" from Celtic.

 

http://www.bbc.co.uk...otball/26072180

 

McCoist loses any shred of credibility that he had left (if there was any left) with every comment he makes about anything. Rangers and then Sevco have treated Scottish football with nothing but contempt and then start trying to play the victim card.

 

**** them

[alwaysthereinspirit]

I see Sally is having a dig at the SPFL for the final being at Parkhead and not Ibrox. Playing to the hordes again in trying to take on the role of "victims" from Celtic.

 

http://www.bbc.co.uk...otball/26072180

His comment on betting is also a little snide remark were it really wasn't needed.

He's turned out to be a real prick.

[Deevers]

 

 

His comment on betting is also a little snide remark were it really wasn't needed.

He's turned out to be a real prick.

. He'll no doubt continue to have that smug look on his face when he picks up his p45 in the next week or two if the rumours are correct.

[Don Dan]

 

 

His comment on betting is also a little snide remark were it really wasn't needed.

He's turned out to be a real prick.

 

I think he's always been one.

[Guest Bilel Mohsni]

McCoist has always been a ******* arsehole. Get over it.

Edited February 6, 2014 by Sir David Attenborough

[jamboruss]

 

I see Sally is having a dig at the SPFL for the final being at Parkhead and not Ibrox. Playing to the hordes again in trying to take on the role of "victims" from Celtic.

 

http://www.bbc.co.uk/sport/0/football/26072180

 

I await with bated breath our "authorities" citing him for bringing the game into disrepute!

[Deso1972]

I await with bated breath our "authorities" citing him for bringing the game into disrepute!

I wouldn't like to be hanging by the balls waiting on them.

[Paolo]

I find it amusing that he leessnts himself as some sort of broadcasting expert. He appeared on Question of Sport and that pile of shite with Fred McCauley,

Edited February 7, 2014 by Simon Says

[tartofmidlothian]

When sevco go into administration & super salary gets punted, who's the new boss going to be ?.

 

I'm going for Start McCall ...

 

Butcher.

[Footballfirst]

Phil Mac Gobbledygook with another blog.

 

http://www.philmacgi...g-day-at-ibrox/

 

Pretty serious accusations to make without a response from the club.

 

It also seems that the SPFL Rules only sanction clubs for non payment of PAYE and NIC, but not VAT.

Edited February 7, 2014 by Footballfirst

[Deevers]

 

 

 

He'd be the hordes 1st choice, but the cost paying hibs to release him would probably be prohibitive. It'll be "slash & burn" time in a controlled admin.

 

A nice win for Dunfermline tonight would be a bonus too..

. Wonder if he has a release clause written to his contract with them.

[Mysterion]

On the other side of the fence there's the investigation into whether Celtic have been gaining advantages through council officials with season tickets.

The website (http://footballtaxhavens.wordpress.com) has some interesting information although it claims to be:

 

"Blog about the intersection of Football, Tax, Use of Tax Havens and Financial & Moral Integrity"

 

Where as it really should just say "A Blog About Trying to Dig Dirt on Celtic" - not one piece of analysis done on anything other than Celtic.

Some of the info is interesting but it will be written through blue tinted spectacles.

Edited February 7, 2014 by Mysterion

[The Gasman]

. Wonder if he has a release clause written to his contract with them.

 

Rumours already that he's not happy about what he was/wasn't able to do in the Transfer Window, and over different interpretations of what had been said and agreed when he took the job on. If there's any truth in the rumours, and if he has some sort of release clause - it may make him easy to deal with....

[Munch]

Anyone got a timeline on when Admin 2 will proceed ?

[Armageddon]

McCoist said: "I did say to the chief executive that if we were allowed to bet, which of course we're not, get a few quid on (it) not being at Ibrox.

 

Sally betting on matters involving SevCo and the SPFL ... interesting ... hmmmm slightly dodgy

[Hagar the Horrible]

 

Anyone got a timeline on when Admin 2 will proceed ?

 

Its down to when the money runs out, then they cant pay bills and then those creditors take them to court to get their money (but you would be insane right now not to take cash up front) if they stop paying wages, then we will see, but once there is a massive cash flow issue, then it will be down to where they can take from Peter to pay Paul. Its not going to be quick, but I think it will be next season, but they would be better off this season taking the hit and still getting promotion.

 

If you were a spiv would you not rather wait until next years season ticket money came in, took your bonuses, sold off your stock and get the hell out of Dodge?

 

Why go into admin before there was a massive cash injection due? the cash will run out the way they are going, but they still have a small window to turn things around, and stop being a basket case.

 

 

[Deevers]

 

 

 

 

Its down to when the money runs out, then they cant pay bills and then those creditors take them to court to get their money (but you would be insane right now not to take cash up front) if they stop paying wages, then we will see, but once there is a massive cash flow issue, then it will be down to where they can take from Peter to pay Paul. Its not going to be quick, but I think it will be next season, but they would be better off this season taking the hit and still getting promotion.

 

If you were a spiv would you not rather wait until next years season ticket money came in, took your bonuses, sold off your stock and get the hell out of Dodge?

 

Why go into admin before there was a massive cash injection due? the cash will run out the way they are going, but they still have a small window to turn things around, and stop being a basket case.

Might be sooner rather than later - it appears that Wallace sees the writing on the wall as far as their financial situation is concerned and wants to go for Administration quickly. When it does happen, I think it's going to be really messy with all the side issues on who actually owns what coming to the top. I think that it will drag on well into the latter part of this year and possibly beyond before their way ahead becomes clear.

[Ron Swanson]

 

Might be sooner rather than later - it appears that Wallace sees the writing on the wall as far as their financial situation is concerned and wants to go for Administration quickly. When it does happen, I think it's going to be really messy with all the side issues on who actually owns what coming to the top. I think that it will drag on well into the latter part of this year and possibly beyond before their way ahead becomes clear.

 

Just get duff and phelps back in. Jobs a good 'un

[Munch]

Its down to when the money runs out, then they cant pay bills and then those creditors take them to court to get their money (but you would be insane right now not to take cash up front) if they stop paying wages, then we will see, but once there is a massive cash flow issue, then it will be down to where they can take from Peter to pay Paul. Its not going to be quick, but I think it will be next season, but they would be better off this season taking the hit and still getting promotion.

 

If you were a spiv would you not rather wait until next years season ticket money came in, took your bonuses, sold off your stock and get the hell out of Dodge?

 

Why go into admin before there was a massive cash injection due? the cash will run out the way they are going, but they still have a small window to turn things around, and stop being a basket case.

 

If the rumours are true and players many of them are on 10k plus per week they wont last till the season ticket money is due unless they try to sell the season ticket books early i can see the Spivs trying that one coin in what they can then take there bonuses etc then put Sevco into Admin 2 then exit Dodge

[Dunks]

Huns reject the claims of Phil - as he himself predicted ....

 

http://www.bbc.co.uk...otball/26092602

 

 

Rangers chief executive Graham Wallace has refuted "ill-informed and inaccurate" claims that the club is on the brink of an insolvency event.

The Scottish League One outfit have received calls from concerned supporters and shareholders following posts on a prominent online blog.

The club reported a ?14m operating loss for the 13 months to June after ?22m was raised in a share issue in 2012.

And Wallace has indicated the need to reduce costs at Ibrox.

 

 

 

Though manager Ally McCoist has agreed a reduced salary, the playing squad rejected a proposed to 15% wage cut until the summer.

In his statement on the Rangers website, Wallace said: "The club has received many calls in recent days from fans, shareholders and other interested parties with regard to the contents of an Irish-based internet blog which has published numerous allegations about the business affairs of Rangers Football Club.

"The club wishes to make clear that these allegations are totally inaccurate and that the chief executive and board of directors are fully focussed on the restructuring and rebuilding of Rangers Football Club as previously announced.

"The club has decided to make this statement as unchallenged, ill-informed and inaccurate comments are damaging to the reputation of Rangers Football Club."

Edited February 7, 2014 by Dunks

[...a bit disco]

Huns reject the claims of Phil - as he himself predicted ....

 

http://www.bbc.co.uk...otball/26092602

 

Surprisingly, no threat of legal action.

 

Wonder why?

[The Gasman]

Huns reject the claims of Phil - as he himself predicted ....

 

http://www.bbc.co.uk...otball/26092602

 

They haven't rejected the claims, they haven't denied the claims, nor have they said they're wrong, just that they are "inaccurate" - which would suggest to me there may be something to them after all.

[Juan Jose Carricondo Perez]

Didn't Fedovas make similar claims at one point?

 

I think admin is inevitable, nobody in their right mind would plug the financial black hole. Anyone buying large chunks of shares recently is just trying to position themselves for the power struggle.

[jamboinglasgow]

They haven't rejected the claims, they haven't denied the claims, nor have they said they're wrong, just that they are "inaccurate" - which would suggest to me there may be something to them after all.

 

Even if they claims are inaccurate, surely asking your players to take a 15% cut is sign of a club with serious financial problems. They sold no players in the window, they are losing a lot of money every month, it requires serious action to resolve but nothing seems to be done.