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Rangers haven't lost the tax case just yet


Greedy_Jambo

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I hope that some knuckle headed Orc give Jackson a complete kicking even if this is true. Would be beautiful.

 

Apparently a large police presence will be required down Ibroke way on Wednesday, methinks a brisk getaway for Whyte via chopper akin to the Yanks dishevelled withdrawl from Saigon.

 

This story has now met the stringent criteria set (by myself) and is officially 3 Greggy's high.

 

:greggy: :greggy: :greggy:

 

Not once, not twice but THRICE!!!

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I don't think the Record is stating anything new ie the RTC website got wind of a document quite some time ago (posted on their website) to do with bowwowings that were speculated to be against future ST sales .

 

What does seem to be happening is that the Record are being fed information from a prime source who has a motive for getting this into the media - have a look at the RTC website and what it says about King (and his motives) and Record journalists sports reporters. If the future under Whyte looks "uncertain" then a future under King looks positively terrifying.:)

 

See latets update at RTC- http://rangerstaxcase.com/

 

The final comment is quite damning , I think , on the Records motives in this. After all , they've waited a long time to publish anything of any substance.

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Francis Albert

I don't think the Record is stating anything new ie the RTC website got wind of a document quite some time ago (posted on their website) to do with bowwowings that were speculated to be against future ST sales .

 

What does seem to be happening is that the Record are being fed information from a prime source who has a motive for getting this into the media - have a look at the RTC website and what it says about King (and his motives) and Record journalists sports reporters. If the future under Whyte looks "uncertain" then a future under King looks positively terrifying.:)

 

See latets update at RTC- http://rangerstaxcase.com/

 

The final comment is quite damning , I think , on the Records motives in this. After all , they've waited a long time to publish anything of any substance.

 

The idea that there might be multiple "Rangers Newco"s fighting for the right to pick up the pieces (sorry, rise phoenix-like from the ashes) is an intriguing one.

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Hagar the Horrible

So just a re-cap the next 4 years of season ticket money has been sold, The tax case might have been leaked that they have lost, they are selling Jellyfish for approx ?5m now, yet they still think they can get Temps.

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Hagar the Horrible

Forgot to add that Wyte said their accounts would be audited today, yet still nothing. oh happy days :whistling:

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The Old Tolbooth

So just a re-cap the next 4 years of season ticket money has been sold, The tax case might have been leaked that they have lost, they are selling Jellyfish for approx ?5m now, yet they still think they can get Temps.

And they're also trying to sign Holt, the Norwich striker too :unsure:

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Apparently a large police presence will be required down Ibroke way on Wednesday, methinks a brisk getaway for Whyte via chopper akin to the Yanks dishevelled withdrawl from Saigon.

 

SaigonFall.jpg

 

Craig Whyte (centre of pic, fist extended) tells Chic Young that there's no room on the helicopter.

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Forgot to add that Wyte said their accounts would be audited today, yet still nothing. oh happy days

 

....and if these audited accounts are not lodged with the SFA in the next eight weeks, Rangers are banned from Europe next season. :)

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And they're also trying to sign Holt, the Norwich striker too :unsure:

 

Lambert just said on SSN, that no one will be leaving Norwich today.

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Cairneyhill Jambo

So just a re-cap the next 4 years of season ticket money has been sold, The tax case might have been leaked that they have lost, they are selling Jellyfish for approx ?5m now, yet they still think they can get Temps.

 

And they also have a ?1.5m balance which is still outstanding from when they bought Jellyfish that they have to pay to Rapid Vienna.

 

They couldn't afford a can of Vimto just now

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SaigonFall.jpg

 

Craig Whyte (centre of pic, fist extended) tells Chic Young that there's no room on the helicopter.

 

:rofl:

 

Women and club owners first!!!

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The Old Tolbooth

Lambert just said on SSN, that no one will be leaving Norwich today.

Yeah but if the money Rangers offered was right then............oh, wait :Stupid_Heads_by_Vir: :jjyay::illogical:

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I still don't know why the Daily Record have decided that now is the right time to publish this story, as its not exactly new news. The rumour was rife when Whyte took over the club. huh.gif

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I still don't know why the Daily Record have decided that now is the right time to publish this story, as its not exactly new news. The rumour was rife when Whyte took over the club. huh.gif

 

Perhaps the reporter was taken out for dinner and White stiffed him for the bill? :whistling:

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Francis Albert

I still don't know why the Daily Record have decided that now is the right time to publish this story, as its not exactly new news. The rumour was rife when Whyte took over the club. huh.gif

 

See link in post 208 for some speculation on this.

 

Also, the Scottish media simply have a lot of catching up to do on "old news" on Rangers finances.

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So just a re-cap the next 4 years of season ticket money has been sold, The tax case might have been leaked that they have lost, they are selling Jellyfish for approx ?5m now, yet they still think they can get Temps.

 

 

Dont forget the 5 million vat that is due on the sale of the next 4 years seson ticket money that he hawked to get the money to buy the club. :woot:

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Craig Whyte Speaks -

 

To all Rangers supporters,

 

I write to you today to address a number of key issues facing the Club.

 

First, I would like to address specifically the latest attempt to undermine Rangers in today's Daily Record which devotes five pages to trashing our efforts to get this Club back on a sensible financial footing.

 

In the most lurid terms, the Record accuses the Club's management and, specifically me, of using supporters' money to help fund the buy-out of Rangers. Not true.

 

The Club is accused of not paying ?5million in VAT. Not true.

 

I can categorically assure supporters that when I launched a takeover bid for the Club it was funded entirely from one of my companies and that was demonstrated clearly to the satisfaction of the previous owner, Lloyds Banking Group and professional advisers.

 

What is true is that Rangers, like many other clubs, has a financing arrangement in place with a company called Ticketus which enables the Club to receive revenue from a portion of season ticket sales in advance.

 

There is nothing unusual or untoward in this arrangement which was put in place at the Club long before my takeover last year and was used by the previous management. For members of that regime to criticise the use of a scheme they put in place is, frankly, outrageous.

 

This is a perfectly straightforward way of raising working capital for the Club. Money from season ticket sales goes directly to the Club and is used for the Club's operations and that remains the case. In effect, all this financing arrangement does is release the revenue to the Club earlier.

 

The Daily Record's approach to this story sought to distort and dramatise the matter. I for one will not be reading or buying the Daily Record again and I'm sure many other Rangers fans will share my disgust at yet another smear on this football club.

 

It was, predictably, fuelled by accusations of former board members of the Club. I simply ask Rangers fans what these men did for Rangers in the Club's hour of need? They were all talk and no action and presided over the Club as it careered to the brink of financial collapse.

 

The overarching issue that affects Rangers financially is the HMRC tax tribunal, which has been hanging over the Club for many years and long before I became chairman. As I have said many times before, the sooner that is resolved the better.

 

In terms of the playing squad, you may know the Club has agreed a fee with Everton for the transfer of Nikica Jelavic. We wish the player well and thank him for his contribution to Rangers.

 

The reality of Jelavic's departure is two-fold. One, the player wanted to leave and there is no point in trying to keep a player who no longer wants to be at Ibrox. Two, the Club is simply not in a financial position to turn down offers for players which give the Club a good return on its original investment.

 

Investment in the playing squad has been a thorny issue since I took over the Club in May and is the source of endless debate, much of it ill-informed. I want to set the record straight.

 

In the summer transfer window last year we conducted 14 different pieces of transfer business, more than any other club in Scotland. This included new signings and improvement to existing contracts with key players, increasing the players' wage bill significantly. We now have a first team squad of 30 which includes 18 full internationalists.

 

Admittedly, there were transfer targets we did not secure but that is not uncommon. As chairman, I have supported Ally McCoist in his choice of targets and will continue to do so. The timing of Jelavic's departure so late in this window is far from ideal and efforts to improve the squad will continue until the transfer window closes.

 

That said, we must be realistic. Media coverage of the transfer window has bordered on the hysterical. As it stands at the moment Rangers has operating costs of approximately ?45 million a year and revenues of around ?35million - not including revenue from possible Champions' League and Europa League participation.

 

As we know, European money cannot be taken for granted and it doesn't take much to work out that without it there is a big financial hole to fill every year - regardless of who owns the Club.

 

I've said many times that in Scottish football we have to move on from this mindset that you have to keep spending more and more money - that's what got this Club into financial trouble before. We have to live within our means, continue to develop talent and spend wisely.

 

These are challenging financial times for Rangers - as they are for many other businesses. What I can say to you as a Rangers fan is that everything I will do as chairman will be in the interests of the Club and I thank you for your continued support.

 

Craig Whyte, Chairman

 

 

 

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The Old Tolbooth

I especially liked this bit

 

The Daily Record's approach to this story sought to distort and dramatise the matter. I for one will not be reading or buying the Daily Record again and I'm sure many other Rangers fans will share my disgust at yet another smear on this football club.

 

 

:sob:

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The reality of Jelavic's departure.....the Club is simply not in a financial position to turn down offers for players which give the Club a good return on its original investment.

 

 

 

Alternatively, Rangers are a selling club.

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Hagar the Horrible

The Club is accused of not paying ?5million in VAT. Not true.

 

We know this but you do have an outstanding current bill which policy and legalities do dictate that you do not need to pay just now until any dispute has been settled, but you will still have to pay it all back once it has been asked for

 

Also you did not give an answer to how much season ticket money has been already borrowed against, i.e the 4 years as alleged by the Dhaily Rhetard.

A fine statement, but one would expect a bit more NO Surrender attitude rather than a please trust me statement. I would expect this to have the Mhedia in a lets pull back scenario while the Blue masses will soak this diatribe up.

 

All papering over the cracks, its like kerplunk with only 2 straws left :thumbsup:

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Bet Keith Jackson is currently looking for somewhere quiet to slit his wrists. Rangers falling out with the Daily ****** - oh what fun!!

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Guest GhostHunter
I for one will not be reading or buying the Daily Record again and I'm sure many other Rangers fans will share my disgust at yet another smear on this football club.

 

:rofl:

 

PS - there's a saying...."A Guilty Dug Barks First".

 

Just sayin....

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Jambof3tornado

A nice clear statement which says not a lot. He should have just done a Vlad and talked about monkies etc and be done with it!!

 

He doesnt say why he couldnt make the 1st repayment to ticketus and had to pawn another season worth of ticket money to cover what they couldnt afford!!!

 

I am pishing myself at this whole thing.

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Maybe even the Daily Record realised they could not bury the shit any longer. Non Scottish media, particularly Private Eye, have been on Whyte's case for some time now.

 

If Rangers fans boycott it now though and it collapses then that would be something else to smile about.

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Whyte doesn't deny the main point - the FOUR YEARS worth of ST sales that were pawned.

 

He says Jellyfish is being sold as he dowesn't want to stay (don't recall Rangers or the player saying he wanted a transfer) BUT then goes on to say Rangers are currently running at a ?10 million per annum loss - as said earlier here , Rangers = selling club.

 

Finally , Whyte's comments about not buying the Record ever again cos they write bad things about him .(and trying to get the fans to boycott it ) .... :lol:

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Whyte doesn't deny the main point - the FOUR YEARS worth of ST sales that were pawned.

 

He also doesn't deny they couldn't afford the first repayment and had to pawn more ST's to pay for it.

 

He makes a point that Der Hun are not due to pay ?5m in VAT, not that there's no bill at all. Presumably it could be ?4.9m they have to pay...

 

:whistling:

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"STV understands Rangers are unlikely to make any further additions to their squad, won't land any of three targets" - . Cant afford to buy players from St Johnstone or Motherwell and outbid by Hibs. If that is the case then all the talk from Craig Whyte of transfer funds was complete rubbish. They really are in trouble

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Skivingatwork

"STV understands Rangers are unlikely to make any further additions to their squad, won't land any of three targets" - . Cant afford to buy players from St Johnstone or Motherwell and outbid by Hibs. If that is the case then all the talk from Craig Whyte of transfer funds was complete rubbish. They really are in trouble

 

But, but, but... the weegie media monkeys promised a sizeable war chest!

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Jam Tarts 1874

I heard some knuckledragger on Real radio saying Rangers were not in crisis, unbelievable!

 

I think it is good to know that Romanov helped in some way towards Rangers' difficulties by depriving them of 2 seasons worth of Champions League money. He must be feeling a bit smug now.

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Another up side will be, if the knuckle draggers stop buying the Record, they'll go bust as well!

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What's this?

 

"As The Daily Telegraph exclusively revealed on Jan 20, Rangers will also be legally bound to refund ?7.7 million to debenture holders ? who pledged that money to fund the building of the Club Deck in 1991 ? should the club be placed in administration"

 

:jjyay:

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Rumours circulating that Super Ally has packed it in. Such a sad end to a beautiful honest friendship :sob:

 

 

 

 

 

 

 

 

:jjyay:

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Geoff Kilpatrick

What's this?

 

"As The Daily Telegraph exclusively revealed on Jan 20, Rangers will also be legally bound to refund ?7.7 million to debenture holders ? who pledged that money to fund the building of the Club Deck in 1991 ? should the club be placed in administration"

 

:jjyay:

:yas:

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