Hagar the Horrible Posted June 8, 2017 Share Posted June 8, 2017 It was the EBT's and the threat of a massive tax bill, so who's fault was that? the real Rangurz men Having to make fat Sally Manager or a ?5m pay-off, the real Rangurz men Not paying the maintenance bill, while it was small...the real Rangurz men Not paying the wee tax case, while it was small...the real Rangurz men Lets ignore our liabilities and spend more money we dont have on players.....the real Rangurz men Lets pay 50k per week to a player worth ?2k......the real Rangurz men Lets take a massive bonus for the sale of the club......the real Rangurz men Who sold the show to an asset stripper......the real Rangurz men WHO LET THE CLUB DIE? ......the real Rangurz men Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted June 8, 2017 Share Posted June 8, 2017 Someone needs to make a film of this whole saga when it ends. Would need to be a multi film deal. I have said this all along, and I could play Craigy boy or fat sally easilily too easily......poor me Link to comment Share on other sites More sharing options...
Stuart Lyon Posted June 8, 2017 Share Posted June 8, 2017 When's the final judgement on the big tax case due? Link to comment Share on other sites More sharing options...
Strachsuit Posted June 8, 2017 Share Posted June 8, 2017 When's the final judgement on the big tax case due? Could be wrong but I'm pretty sure it was mentioned as being July. Link to comment Share on other sites More sharing options...
AllyjamboDerbyshire Posted June 8, 2017 Share Posted June 8, 2017 When's the final judgement on the big tax case due? There is no 'due' date. Quite simply, it might be announced tomorrow, but then again, it might be the autumn before we hear. Link to comment Share on other sites More sharing options...
Jam Tarts 1874 Posted June 8, 2017 Share Posted June 8, 2017 It was the EBT's and the threat of a massive tax bill, so who's fault was that? the real Rangurz men Having to make fat Sally Manager or a ?5m pay-off, the real Rangurz men Not paying the maintenance bill, while it was small...the real Rangurz men Not paying the wee tax case, while it was small...the real Rangurz men Lets ignore our liabilities and spend more money we dont have on players.....the real Rangurz men Lets pay 50k per week to a player worth ?2k......the real Rangurz men Lets take a massive bonus for the sale of the club......the real Rangurz men Who sold the show to an asset stripper......the real Rangurz men WHO LET THE CLUB DIE? ......the real Rangurz men However Neil Doncaster keen to divert attention by making out Whyte is the villain: http://www.dailyrecord.co.uk/sport/football/football-news/figure-like-former-rangers-owner-10581293 Scottish football is crooked through and through, I just can't see how I can support it. Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted June 8, 2017 Share Posted June 8, 2017 However Neil Doncaster keen to divert attention by making out Whyte is the villain: http://www.dailyrecord.co.uk/sport/football/football-news/figure-like-former-rangers-owner-10581293 Scottish football is crooked through and through, I just can't see how I can support it. He's such a blethering idiot. How does he still have a job. Scottish football clubs outwith the two Glasgow @$$ cheeks should be embarrassed to be associated with him. Link to comment Share on other sites More sharing options...
Unknown user Posted June 8, 2017 Share Posted June 8, 2017 When's the final judgement on the big tax case due? As I understand it... It's not going through an appeal as such, a judge is going to decide if there's been an issue with a point of law - if there has been, it can go to appeal, but if not, there are no further appeals available. So basically, the facts of the case can't be challenged, it's only if the law has been applied incorrectly that they'll be allowed to appeal. (Happy to stand corrected if I have this wrong btw!) Link to comment Share on other sites More sharing options...
eddiepolio Posted June 8, 2017 Share Posted June 8, 2017 . Link to comment Share on other sites More sharing options...
GMEdinburgh Posted June 8, 2017 Share Posted June 8, 2017 However Neil Doncaster keen to divert attention by making out Whyte is the villain: http://www.dailyrecord.co.uk/sport/football/football-news/figure-like-former-rangers-owner-10581293 Scottish football is crooked through and through, I just can't see how I can support it. Dear Mr Doncaster, Do I honestly give a s*it if I'm never involved in a football club again. Yours Craigy boy ( still 200k richer ) Link to comment Share on other sites More sharing options...
jamboz Posted June 9, 2017 Share Posted June 9, 2017 Surely the lying king has to be charged with bringing the game into disrepute amongst other offences Link to comment Share on other sites More sharing options...
Ron Swanson Posted June 9, 2017 Share Posted June 9, 2017 Surely the lying king has to be charged with bringing the game into disrepute amongst other offencesAbsolutely no chance. Sent from my Moto G (5) Plus using Tapatalk Link to comment Share on other sites More sharing options...
Stuart Lyon Posted June 21, 2017 Share Posted June 21, 2017 Footballfirst - what does this mean https://www.scotcourts.gov.uk/search-judgments/judgment?id=152536a7-8980-69d2-b500-ff0000d74aa7 Link to comment Share on other sites More sharing options...
Escobar PHM Posted June 21, 2017 Share Posted June 21, 2017 However Neil Doncaster keen to divert attention by making out Whyte is the villain: http://www.dailyrecord.co.uk/sport/football/football-news/figure-like-former-rangers-owner-10581293 Scottish football is crooked through and through, I just can't see how I can support it. To be fair, he doesn't actually make any mention of Craig Whyte in any of the quotes. Sensational headline. Empty story, as per. Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted June 21, 2017 Share Posted June 21, 2017 Footballfirst - what does this mean https://www.scotcourts.gov.uk/search-judgments/judgment?id=152536a7-8980-69d2-b500-ff0000d74aa7 I THINK? Wavetower were trying to acert themselves as secured creditors, as such they will get any money left over from oldco, before the tax man or the facepainter? the liquidators were trying to put a claim in that Whyte secured the club by illegal means and as such the bank was paid with mony loaned to the club, using its own assets? However as Whyte was found not guilty, it chucks it up in the air, but also asks another question....wherz ra deeds. This wont stop getting messy Link to comment Share on other sites More sharing options...
primrose Posted June 21, 2017 Share Posted June 21, 2017 Footballfirst - what does this mean https://www.scotcourts.gov.uk/search-judgments/judgment?id=152536a7-8980-69d2-b500-ff0000d74aa7 Sisted - Effectively it means that this case was paused so as not to influence the outcome of the Whyte trial and that the decision to sist was barred from publicity. Although I am sure FF will provide a more eloquent and detailed explanation. Link to comment Share on other sites More sharing options...
Footballfirst Posted June 21, 2017 Share Posted June 21, 2017 (edited) Footballfirst - what does this mean https://www.scotcourts.gov.uk/search-judgments/judgment?id=152536a7-8980-69d2-b500-ff0000d74aa7 The link gives Lord Doherty?s decision on the merits of TRFCG?s (Wavetower) ?18m claim against the BDO Liquidators (RFC 2012). Just a brief summary of Lord Doherty?s opinion dated 22 March 2016. (note that the opinion wasn't published until the conclusion of the Whyte trial) Wavetower/TRFCG claimed ?18m as a secured creditor of the Liquidated RFC 2012. BDO sent a counter claim that RFC 2012 was owed ?18.4m by TRFCG for transactions around 9 May 2011, so the claim was fully offset. They added that they considered that the transactions were part of a ?fraud? and ?financial assistance?, so the assignation of the Lloyds debt was ?void? as a result. (the Whyte trial verdict has blown a hole in that defence) Lord Doherty was of the view that the criminal proceedings took precedence and as a result he ?sisted? the case. BDO sought to appeal that decision because if the TRFCG claim held up, only they would receive anything as a secured creditor of RFC 2012. In that scenario an appeal to the Supreme Court re the EBT case would be pointless. Lord Doherty was unmoved and decided it wasn?t appropriate to hear an appeal while the criminal proceedings continued. It remains to be seen what happens next, given that TRFCG?s claims were taken up by Law Financial, then Worthington Group. Worthington Group went into liquidation themselves, but not before the claim against the oldco was sold onto another specialist claims company called Henderson and Jones (H&J). On 30 May 2017, BDO went to the Court of Session seeking further directions on progressing the liquidation process. At that hearing it was revealed that H&J had bought the claim from Wavetower/TRFCG/Law Financial/Worthington, and that the claim had fallen to ?2.5m. H&J was given four weeks to formally submit their claim to the Liquidators and for them to take it from there. A couple of related actions have seen H&J appointed as a director of TRFCG on 12 June, but a post dated "dissolution" notice has been lodged at Companies House today. https://beta.companieshouse.gov.uk/company/07380537/filing-history 27 Jun 2017 GAZ2 Final Gazette dissolved via compulsory strike-off This document is being processed and will be available in 5 days. If H&J has indeed purchased the rights to the claim against RFC (2012) assets, then I don?t see why they would need TRFCG to survive. The alternative way of doing it would have been for H&J to have bought the company, TRFCG, but I?d guess that would be a riskier course of action as it would have left the ?company? open to other claims. Watch this space! Edited June 21, 2017 by Footballfirst Link to comment Share on other sites More sharing options...
Stuart Lyon Posted June 21, 2017 Share Posted June 21, 2017 Thanks FF - I think I understand but what a bloody complex matter this is with the lawyers no doubt being the main beneficiaries. Link to comment Share on other sites More sharing options...
Perth to Paisley Posted June 21, 2017 Share Posted June 21, 2017 Sad mess of 'an institution' Will go on for another 5 years Link to comment Share on other sites More sharing options...
the general Posted June 21, 2017 Share Posted June 21, 2017 presser at 4.15 today according to Twitter Link to comment Share on other sites More sharing options...
Prince Buaben Posted June 21, 2017 Share Posted June 21, 2017 Will be a player... or Bankruptcy Link to comment Share on other sites More sharing options...
Wilson Posted June 21, 2017 Share Posted June 21, 2017 New deal with Sports Direct - 7 year deal "torn up" Maybe this is where the recent ??? are coming from Link to comment Share on other sites More sharing options...
fabienleclerq Posted June 21, 2017 Share Posted June 21, 2017 . Link to comment Share on other sites More sharing options...
Footballfirst Posted June 21, 2017 Share Posted June 21, 2017 (edited) https://rangers.co.uk/news/headlines/club-statement-77 THE Rangers Football Club Limited (TRFC) and Sports Direct (SD) are pleased to announce that they have terminated all prior agreements between them and entered into a new commercial arrangement on terms substantially different from the terminated agreements. As part of the new arrangements, the Rangers Retail Limited (RRL) joint venture between TRFC and SD has ended and, going forward, TRFC will deal directly with SD. The negotiations between the parties have been protracted and have not been smooth. In that regard, TRFC and SD thank PUMA for its assistance and patience during a period that has been difficult for them as official kit supplier to the Club. TRFC has also expressed its thanks to SD for its willingness to restructure the arrangements between the parties. TRFC recognises that SD entered into legal agreements with a prior board at a time in the Club?s history when the future was very uncertain. SD?s willingness to restructure the relationship reflects confidence in the way the Club is now being managed. For obvious reasons it is not the practice for the details of commercial arrangements to be made public. However, in view of the publicity surrounding the previous agreements and the resultant boycott by supporters of kit purchases we consider it appropriate to give supporters some insight into the new arrangements. The new arrangements represent a fresh start for the Rangers Megastore, the relaunch of the Rangers Webstore and the sale of Rangers kit and products throughout SD?s stores. The financial arrangements between the parties are transformed. TRFC will now receive by far the majority of net profits from the retail operations at the Megastore and Webstore together with an equal share of all net profits from sales through SD. TRFC will also obtain a priority dividend on the winding up of RRL. The new deal will deliver real value for TRFC and SD. Supporters now have certainty that any money they spend on Rangers products will be hugely beneficial for the Club. SD will benefit from the increased sales and from the opportunity of demonstrating the part its retail skills can play in building and commercialising the Rangers brand which was always SD?s intention. Both parties are delighted to achieve a successful resolution to the issues that have previously marred the relationship between them and bring an end to the protracted and costly litigation. TRFC and SD hope that the new arrangements will be long standing but there is no longer a fixed commitment on that front. We will rely on our combined commercial performance and drive to cement the relationship going forward. Rangers has traditionally been one of the best performing brands in British football and the Club believes the new arrangements can restore it to that position, providing funds to invest in the team and facilities at Ibrox and Auchenhowie. Edited June 21, 2017 by Footballfirst Link to comment Share on other sites More sharing options...
buzzbomb1958 Posted June 21, 2017 Share Posted June 21, 2017 Smoke and mirrors once again telling the orcs it's now alright to buy strips again,I wonder if it has anything to do with all the unsold merchandise sevco had to pay for,but the lemmings will go for it Link to comment Share on other sites More sharing options...
CJGJ Posted June 21, 2017 Share Posted June 21, 2017 Oh the temptation ..no I musn't Link to comment Share on other sites More sharing options...
Mikey1874 Posted June 21, 2017 Share Posted June 21, 2017 Good to see a happy outcome People getting on, solving their differences Win win Link to comment Share on other sites More sharing options...
BelgeJambo Posted June 21, 2017 Share Posted June 21, 2017 So what does that leave us with now? Concert party Etc etc Link to comment Share on other sites More sharing options...
Rods Posted June 21, 2017 Share Posted June 21, 2017 I only see this as a good thing for Rangers. Maybe they can now pony up the correct money for Walker. Link to comment Share on other sites More sharing options...
Mikey1874 Posted June 21, 2017 Share Posted June 21, 2017 Be news of another investment by Mike Ashley soon? Link to comment Share on other sites More sharing options...
Pistol1874 Posted June 21, 2017 Share Posted June 21, 2017 'Hearts fans' delighted at a material income stream coming online for The Rangers. Dearie me. Link to comment Share on other sites More sharing options...
Footballfirst Posted June 21, 2017 Share Posted June 21, 2017 (edited) I'd like to try and read between the lines of some of the statement. "The financial arrangements between the parties are transformed. TRFC will now receive by far the majority of net profits from the retail operations at the Megastore and Webstore together with an equal share of all net profits from sales through SD. So Rangers get increased revenue from sales at the Megastore and their Webstore - (up from 51%), but that the profit from SD sales is shared as before. SD also continue to make profits from the sourcing, manufacturing and supply of goods. TRFC will also obtain a priority dividend on the winding up of RRL. I assume that means that they will receive an advance (not enhanced) payment of their share of the dividend due on winding up RRL which might help their short term cash flow TRFC and SD hope that the new arrangements will be long standing but there is no longer a fixed commitment on that front. We will rely on our combined commercial performance and drive to cement the relationship going forward. I don't read that as being a one year deal as is being reported on some platforms, e.g it could easily be a one year rolling contract or termination at a year's notice. It all seems a huge waste of revenue potential over the last three years, with boycotts, legal action etc., only to find that the club can do business with their bogey man after all. Edited June 21, 2017 by Footballfirst Link to comment Share on other sites More sharing options...
buzzbomb1958 Posted June 21, 2017 Share Posted June 21, 2017 I would not believe king if he said the sky is blue he is ducking and diving,he also knows Newcastle could be sold to Chinese consortium meaning Ashley might invest and he will be looking much like Theresa May ,he's on his last legs Link to comment Share on other sites More sharing options...
Glamorgan Jambo Posted June 21, 2017 Share Posted June 21, 2017 I presume though that Sports Direct will still be the wholesaler Link to comment Share on other sites More sharing options...
Mikey1874 Posted June 21, 2017 Share Posted June 21, 2017 It all seems a huge waste of revenue potential over the last three years, with boycotts, legal action etc., only to find that the club can do business with their bogey man after all. Exactly Link to comment Share on other sites More sharing options...
soonbe110 Posted June 21, 2017 Share Posted June 21, 2017 King says club's war with S.Direct is now over & they will play in same kit as last season. Prob hoping merch sales will boost funds.Must have a warehouse or two full of last years replica kits. Link to comment Share on other sites More sharing options...
luckydug Posted June 21, 2017 Share Posted June 21, 2017 Oh the temptation ..no I musn't I suppose this means that The Rangers will now have Millions and Millions to spend on new players. Maybe they will even win the league this season. You must be so excited Link to comment Share on other sites More sharing options...
BelgeJambo Posted June 21, 2017 Share Posted June 21, 2017 STV news King stating interest free loans from himself and directors paying for new players Link to comment Share on other sites More sharing options...
buzzbomb1958 Posted June 21, 2017 Share Posted June 21, 2017 STV news King stating interest free loans from himself and directors paying for new playersAbsolute bullshit what about paying back last years soft loans ,where's the season ticket money is it gone already? Link to comment Share on other sites More sharing options...
Toonhertz Posted June 21, 2017 Share Posted June 21, 2017 They'll be in admin next year once it all goes to pot.......... Link to comment Share on other sites More sharing options...
Prince Buaben Posted June 21, 2017 Share Posted June 21, 2017 They are keeping the same kit next season? Link to comment Share on other sites More sharing options...
buzzbomb1958 Posted June 21, 2017 Share Posted June 21, 2017 They are keeping the same kit next season?They either have to sell them or pay for them under the terms of the deal ,Lying king doing the soft shoe shuffle again Link to comment Share on other sites More sharing options...
VALDOS Posted June 21, 2017 Share Posted June 21, 2017 It was always going to work out best to have Mike Ashley on side. Link to comment Share on other sites More sharing options...
Gizmo Posted June 21, 2017 Share Posted June 21, 2017 More loans? After sorting out a more reasonable deal with SD and all that season ticket money.They'll probably get away with it but yet again it looks like the books will only ever balance if they make decent progress in Europe. And that is far from a certainty.Other FAs would be looking into any club that is so obviously trading whilst insolvent but I suspect King could punch Doncaster square in the face and get away with it. Link to comment Share on other sites More sharing options...
Mikey1874 Posted June 21, 2017 Share Posted June 21, 2017 More loans? After sorting out a more reasonable deal with SD and all that season ticket money. They'll probably get away with it but yet again it looks like the books will only ever balance if they make decent progress in Europe. And that is far from a certainty. Other FAs would be looking into any club that is so obviously trading whilst insolvent but I suspect King could punch Doncaster square in the face and get away with it. Speculate to accumulate Not sure if that's been tried before Link to comment Share on other sites More sharing options...
VALDOS Posted June 21, 2017 Share Posted June 21, 2017 (edited) More loans? After sorting out a more reasonable deal with SD and all that season ticket money. They'll probably get away with it but yet again it looks like the books will only ever balance if they make decent progress in Europe. And that is far from a certainty. Other FAs would be looking into any club that is so obviously trading whilst insolvent but I suspect King could punch Doncaster square in the face and get away with it. the last bit is actually not really true to be fair, there are several clubs in England for example that have no way of paying their debt off and everyone looks the other way. Edited June 21, 2017 by VALDOS Link to comment Share on other sites More sharing options...
CJGJ Posted June 21, 2017 Share Posted June 21, 2017 I suppose this means that The Rangers will now have Millions and Millions to spend on new players. Maybe they will even win the league this season. You must be so excited On a personal level I'm expecting quite a few apologies from you and others given your past statements............like that's going to happen !! What's not surprising that instead of admitting you and others got it wrong you try to twist the story to make personal insinuations which you know are not true but he ho its what's to be expected from posters like you on this topic...totally blind re the realities and unwilling to accept there may be a slightly different point of view. Anyone who dares to question finds the 'JKB inquisition' on their tail If you'd only listened to what you were told it would have saved you so much wasted effort in the fantasy posts many made. As for Hearts and just for avoidance of doubt, my club, it will make little difference in the short term though of course it may give Rangers more money to spend (and let's hope a bigger bid for one of our players if the rumours are true) though I'd rather he signed a new deal with us. In the medium to long term it will on the face of it make it more difficult to compete if Rangers finances ever truly get sorted out but that is the unknown factor. Of course the debts are substantial so even the medium term may not be realistic Link to comment Share on other sites More sharing options...
269miles Posted June 21, 2017 Share Posted June 21, 2017 So what does that leave us with now? Concert party Etc etc It has not gone away - the Takeover Panel are going after King but this is all being ignored by the Glasgow media as with the , yet more, soft loans.It doesn't seem to occur to the Glasgow media that it's nigh impossible that King has EVER lent Sevco any money - he hasn't got any and what he does have he can't get out of S Africa. I'm still puzzled by FFs post (no criticism of FF!) - the wording on one part of the statement doesn't make any sense and it looks like Sevco are saying they have reached a one year , face saving deal that suits them but then will revert back to the original (VERY long term contract) next year. Link to comment Share on other sites More sharing options...
Footballfirst Posted June 21, 2017 Share Posted June 21, 2017 It has not gone away - the Takeover Panel are going after King but this is all being ignored by the Glasgow media as with the , yet more, soft loans.It doesn't seem to occur to the Glasgow media that it's nigh impossible that King has EVER lent Sevco any money - he hasn't got any and what he does have he can't get out of S Africa. I'm still puzzled by FFs post (no criticism of FF!) - the wording on one part of the statement doesn't make any sense and it looks like Sevco are saying they have reached a one year , face saving deal that suits them but then will revert back to the original (VERY long term contract) next year. I just took that statement at face value which didn't mention any time scale for the deal. I have since listened back to the press conference where King says they have an agreement to the end of next season (I assume that to be 2017/18), at which point TRFC is free to negotiate further with SD or another party. King was at pains to say that TRFC hasn't had any significant retail capability since SDM sold it to JJB in 2006, and that it was necessary for them to work with a partner. King stated clearly that the seven year deal is no more and that TRFC retains the IP. Link to comment Share on other sites More sharing options...
jamie1874 Posted June 21, 2017 Share Posted June 21, 2017 Absolute bullshit what about paying back last years soft loans ,where's the season ticket money is it gone already? No doubt get shot down for this, and not a fan of Sevco in anyway (born and bread Glasgow Jambo who grew up with 9 in a row etc, so no sympathy for their plights) I have heard there has been substantial investment for this year and next year by people based in the Middle East. Hence why they seem to be spending a lot of money on wages and transfers just now and backing the new manager while not got rid of the dead wood from last season. The cynic in me would question if the new manager brought along the investment with him, with his previous job being in the Middle East. I.e more connected to him rather than Rangers board so happy to give a guy a job who can bring some investment with him too. Link to comment Share on other sites More sharing options...
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