...a bit disco Posted July 23, 2019 Share Posted July 23, 2019 Truly scrumptious. Rangers have claimed a court order preventing them from selling replica strips would have "impaired its ability to function as a football club" - as they face a multi-million pound payout to Sports Direct. A ruling was published yesterday detailing the reasons why Gers lost the most recent round of legal battles with Mike Ashley. SDI Retail Services claimed Rangers chiefs were in breach of obligations under a deal relating to the sale of footie strips - a claim the club denied. However at a High Court hearing in London last week, judge Lionel Persey QC ruled in favour of SDI. The report made reference to the possibility of Hummel kit again being banned from sales by Rangers. But Gers claimed, in paragraph 94 of the report, that an injunction should not be granted because it would "lose significant revenues and be exposed to claims for damages from Elite [Hummel's exclusive brand partner]." The Ibrox outfit also claimed it would see "the club, players and fans will be unable to secure kit and products" and it would affect Gers' "ability to function as a football club". The judge ruled that he did not believe Gers would lose significant revenues. And the 'injunctive relief' would not interrupt kit sales for this coming season. https://www.eveningtimes.co.uk/news/17788853.rangers-claim-court-order-stop-selling-replica-strips-impair-ability-function-football-club-face-multi-million-pound-payout-sports-direct/ Link to comment Share on other sites More sharing options...
Don Dan Posted July 23, 2019 Share Posted July 23, 2019 (edited) It’s interesting that there was eventually a piece in The Scotsman about this case in favour of SDI but it now disappeared. I wonder if Fat Jabba has been on the phone telling them to pull it. Edited July 23, 2019 by Dannie Boy Link to comment Share on other sites More sharing options...
trotter Posted July 23, 2019 Share Posted July 23, 2019 39 minutes ago, ...a bit disco said: footie strips What a rag Link to comment Share on other sites More sharing options...
Shanks Posted July 23, 2019 Share Posted July 23, 2019 Oh things are hotting up again Link to comment Share on other sites More sharing options...
Independence Posted July 23, 2019 Share Posted July 23, 2019 5 hours ago, farin said: Oh dear. 😊 Lovely, just lovely. Link to comment Share on other sites More sharing options...
BelgeJambo Posted July 23, 2019 Share Posted July 23, 2019 2 hours ago, ...a bit disco said: Truly scrumptious. Rangers have claimed a court order preventing them from selling replica strips would have "impaired its ability to function as a football club" - as they face a multi-million pound payout to Sports Direct. A ruling was published yesterday detailing the reasons why Gers lost the most recent round of legal battles with Mike Ashley. SDI Retail Services claimed Rangers chiefs were in breach of obligations under a deal relating to the sale of footie strips - a claim the club denied. However at a High Court hearing in London last week, judge Lionel Persey QC ruled in favour of SDI. The report made reference to the possibility of Hummel kit again being banned from sales by Rangers. But Gers claimed, in paragraph 94 of the report, that an injunction should not be granted because it would "lose significant revenues and be exposed to claims for damages from Elite [Hummel's exclusive brand partner]." The Ibrox outfit also claimed it would see "the club, players and fans will be unable to secure kit and products" and it would affect Gers' "ability to function as a football club". The judge ruled that he did not believe Gers would lose significant revenues. And the 'injunctive relief' would not interrupt kit sales for this coming season. https://www.eveningtimes.co.uk/news/17788853.rangers-claim-court-order-stop-selling-replica-strips-impair-ability-function-football-club-face-multi-million-pound-payout-sports-direct/ Poor wee mites Don’t break the ****ing law then Link to comment Share on other sites More sharing options...
Shanks Posted July 23, 2019 Share Posted July 23, 2019 5 minutes ago, farin said: This is even better. “Balance the books”🤔 Wonder what the odds are on gerrard first manager to go this season Link to comment Share on other sites More sharing options...
Deevers Posted July 23, 2019 Share Posted July 23, 2019 (edited) 28 minutes ago, farin said: This is even better. “Balance the books”🤔 And despite all the efforts of Fatty Traynor to spin interest from all over the continent and inflate his worth nothing has transpired. Seems that big Mike has them in a corner just now and they may have to accept an offer well short of what they want. Never mind though the ever helpful MSM will massage the figure to save the embarrassment. Edited July 23, 2019 by Deevers Link to comment Share on other sites More sharing options...
heartandsoul Posted July 23, 2019 Share Posted July 23, 2019 36 minutes ago, farin said: This is even better. “Balance the books”🤔 Is this the start of liquidation 2 Link to comment Share on other sites More sharing options...
trotter Posted July 23, 2019 Share Posted July 23, 2019 1 hour ago, farin said: This is even better. “Balance the books”🤔 See after all the dirty tricks they used to play with the banks in order to stiff other clubs, that is delicious. Link to comment Share on other sites More sharing options...
132goals1958 Posted July 23, 2019 Share Posted July 23, 2019 55 minutes ago, farin said: This is even better. “Balance the books”🤔 Well according to the BBC gossip page this morning funds are still available to Gerrard to boost the squad. Now any normal business would be providing a contingency in their accounts for this eventuality, as they have known for some time this potential liability was likely to crystallize. They are now bleating that any action will impair their business model which to date has been rash and willful overspending. There sense of entitlement and breach of fiduciary responsibilities is jaw dropping.The MSM were all over us when Vlad was up to his antics but I wont wait with baited breath for a similar reaction which will predictably will be along the lines of speak no evil. Link to comment Share on other sites More sharing options...
Effervesance Posted July 23, 2019 Share Posted July 23, 2019 44 minutes ago, 132goals1958 said: Well according to the BBC gossip page this morning funds are still available to Gerrard to boost the squad. Now any normal business would be providing a contingency in their accounts for this eventuality, as they have known for some time this potential liability was likely to crystallize. They are now bleating that any action will impair their business model which to date has been rash and willful overspending. There sense of entitlement and breach of fiduciary responsibilities is jaw dropping.The MSM were all over us when Vlad was up to his antics but I wont wait with baited breath for a similar reaction which will predictably will be along the lines of speak no evil. I've got a feeling they'll chuck all their money at stopping 9 in a row and hell mend the financial implosion that'll follow if they don't. Even if Ashley takes them for £5m including legal fees if they fail to make the group stages of the Europa League then they've got to be close to going down the swanny again. Big wages on Defoe, Helander and Davis, 15k a week on Aribo plus whatever Morelos and Tavernier get then their wage bill must be crippling. Take into account Murphy, Dorrans, Grezda and Barisic then that's probably another £60k a week wasted on guys unlikely to play. Link to comment Share on other sites More sharing options...
Newton51 Posted July 23, 2019 Share Posted July 23, 2019 1 minute ago, Effervesance said: I've got a feeling they'll chuck all their money at stopping 9 in a row and hell mend the financial implosion that'll follow if they don't. Even if Ashley takes them for £5m including legal fees if they fail to make the group stages of the Europa League then they've got to be close to going down the swanny again. Big wages on Defoe, Helander and Davis, 15k a week on Aribo plus whatever Morelos and Tavernier get then their wage bill must be crippling. Take into account Murphy, Dorrans, Grezda and Barisic then that's probably another £60k a week wasted on guys unlikely to play. Lafferty holt and dodoo on the wage bill nowhere near the first team on decent money Link to comment Share on other sites More sharing options...
Newton51 Posted July 23, 2019 Share Posted July 23, 2019 Nothing to see here.... https://rangers.co.uk/news/headlines/message-to-supporters/ Link to comment Share on other sites More sharing options...
Forever Hearts Posted July 23, 2019 Share Posted July 23, 2019 On 22/07/2019 at 20:44, Whatever said: You’re associating with the wrong type of people m8. Plenty of them on here. Mad Phil ffs. Even the Mhanks have gave up on his ramblings but by the law of averages he'll get the odd thing right. Link to comment Share on other sites More sharing options...
132goals1958 Posted July 23, 2019 Share Posted July 23, 2019 4 minutes ago, Effervesance said: I've got a feeling they'll chuck all their money at stopping 9 in a row and hell mend the financial implosion that'll follow if they don't. Even if Ashley takes them for £5m including legal fees if they fail to make the group stages of the Europa League then they've got to be close to going down the swanny again. Big wages on Defoe, Helander and Davis, 15k a week on Aribo plus whatever Morelos and Tavernier get then their wage bill must be crippling. Take into account Murphy, Dorrans, Grezda and Barisic then that's probably another £60k a week wasted on guys unlikely to play. They are making the same mistakes(on a much larger scale) when they overspent making their way through the divisions. At that time they had the opportunity to make some judicious signings and bolster their financial reserves. In hindsight us being relegated was not such a bad experience as we halted both Sevco and the Lochenders journey back to the top division. Link to comment Share on other sites More sharing options...
Lovecraft Posted July 23, 2019 Share Posted July 23, 2019 24 minutes ago, Effervesance said: I've got a feeling they'll chuck all their money at stopping 9 in a row and hell mend the financial implosion that'll follow if they don't. Even if Ashley takes them for £5m including legal fees if they fail to make the group stages of the Europa League then they've got to be close to going down the swanny again. Big wages on Defoe, Helander and Davis, 15k a week on Aribo plus whatever Morelos and Tavernier get then their wage bill must be crippling. Take into account Murphy, Dorrans, Grezda and Barisic then that's probably another £60k a week wasted on guys unlikely to play. Gerrard and McCallister won't be cheap either. Bet neither are on less than 20k a week. Link to comment Share on other sites More sharing options...
Mr Sifter Posted July 23, 2019 Share Posted July 23, 2019 Can anyone tell me whatever happened with the ruling that King had to offer to buy everyone’s shares for a previously agreed amount? Last I heard he was telling us he was toiling to open a U.K. bank account. Then it went quiet. And now catching up with this thread, I see a debt for equity swap has taken place...so did King make the required offer to the other shareholders prior to this DfE swap? Link to comment Share on other sites More sharing options...
Footballfirst Posted July 23, 2019 Share Posted July 23, 2019 6 minutes ago, Mr Sifter said: Can anyone tell me whatever happened with the ruling that King had to offer to buy everyone’s shares for a previously agreed amount? Last I heard he was telling us he was toiling to open a U.K. bank account. Then it went quiet. And now catching up with this thread, I see a debt for equity swap has taken place...so did King make the required offer to the other shareholders prior to this DfE swap? There have been two DFE swaps. The first in September 2018 was enough to ensure that those who wanted to sell didn't have enough votes to force him to buy them out, when the offer was eventually made in January 2019. The second DFE swap is currently in progress after he got approval from shareholders to proceed without the need to make another offer in June. King and the concert party will own around 54% of the club once the conversion to shares is complete Link to comment Share on other sites More sharing options...
Mr Sifter Posted July 23, 2019 Share Posted July 23, 2019 16 minutes ago, Footballfirst said: There have been two DFE swaps. The first in September 2018 was enough to ensure that those who wanted to sell didn't have enough votes to force him to buy them out, when the offer was eventually made in January 2019. The second DFE swap is currently in progress after he got approval from shareholders to proceed without the need to make another offer in June. King and the concert party will own around 54% of the club once the conversion to shares is complete Thanks FF, as always, your knowledge is appreciated 👍🏼👍🏼 Link to comment Share on other sites More sharing options...
sadj Posted July 23, 2019 Share Posted July 23, 2019 54 minutes ago, Newton51 said: Nothing to see here.... https://rangers.co.uk/news/headlines/message-to-supporters/ That is hilarious....WATP , we are above the law , we have decided how the court will rule and Mr King will continue to fight for you all as we try to win our first ever trophy Link to comment Share on other sites More sharing options...
sadj Posted July 23, 2019 Share Posted July 23, 2019 (edited) 38 minutes ago, farin said: With no cap set I’m sure he’ll extract the maximum amount he can out of them. No love lost between him & king. Nope, but it’s seriously drain on funds for them tbh. It’s petition time again. 😊 http://chng.it/HNJB7dTK 😂😂😂😂 The comments Edited July 23, 2019 by sadj Link to comment Share on other sites More sharing options...
NaturalOrder74 Posted July 23, 2019 Share Posted July 23, 2019 Lol so I might be horribly wrong here but my understanding is that I remember The rangers supporters making a big song and dance about them being able to buy kits again .. and now he’s just taking all of that money back, brilliant Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted July 23, 2019 Share Posted July 23, 2019 The gift that keeps on giving. I love Newco. They're never going to give up thinking they're relevant. Idiots. Link to comment Share on other sites More sharing options...
Unknown user Posted July 23, 2019 Share Posted July 23, 2019 (edited) 51 minutes ago, farin said: With no cap set I’m sure he’ll extract the maximum amount he can out of them. I'm no legal chap but it occurred to me that what the judgement was actually saying was that the 1 million cap wasn't enough to cover the "many millions" SDIR lost out on, leaving the window open to add something else, maybe punitive damages because of the continuing lack of goodwill towards the contract and court for example. Edited July 23, 2019 by Smithee Link to comment Share on other sites More sharing options...
The Future's Maroon Posted July 23, 2019 Share Posted July 23, 2019 1 hour ago, Newton51 said: Nothing to see here.... https://rangers.co.uk/news/headlines/message-to-supporters/ Un-bloody-real, I think and hope this is the 2nd slippery slope in recent times the bigots from Govan are about to face, this one can’t be (or allowed) to be swept under the rug in the big hoose. Long may they suffer. Link to comment Share on other sites More sharing options...
brunoatemyhamster Posted July 23, 2019 Share Posted July 23, 2019 (edited) 29 minutes ago, Smithee said: I'm no legal chap but it occurred to me that what the judgement was actually saying was that the 1 million cap wasn't enough to cover the "many millions" SDIR lost out on, leaving the window open to add something else, maybe punitive damages because of the continuing lack of goodwill towards the contract and court for example. You know we're talking about a guy who won't give you your money back if you buy a pair of trainers and there's only one in the box right? I have every faith Big Mike will have his top penny finders on this. I'm sure they are excellent at it by now. Would I be right in saying he can bill Sevco for their time aswell? I don't think I could handle any more good news. Edited July 23, 2019 by brunoatemyhamster Link to comment Share on other sites More sharing options...
...a bit disco Posted July 23, 2019 Share Posted July 23, 2019 1 hour ago, Newton51 said: Nothing to see here.... https://rangers.co.uk/news/headlines/message-to-supporters/ What an absolute 'nothing' statement. Link to comment Share on other sites More sharing options...
Shrekeo Posted July 23, 2019 Share Posted July 23, 2019 Embarrassing!!! Hearts Forum! Close the thread!!! Wait? What? Keep it open thank you. I love it...... Link to comment Share on other sites More sharing options...
tntjambo Posted July 24, 2019 Share Posted July 24, 2019 Sevco and Dodgy Dave lol Link to comment Share on other sites More sharing options...
JackLadd Posted July 24, 2019 Share Posted July 24, 2019 regards the Europa, I think they'll edge past Progres but the Danish mob will pump them so they won't even make the play-off round. No Europa groups could be a coffin nail or two with Big Mike awaiting damages. I suspect he might be fobbed off with some Sevco assets and payment plan. Link to comment Share on other sites More sharing options...
Meadows Posted July 24, 2019 Share Posted July 24, 2019 The Chinese whispers are gaining momentum ( again ) regarding the finances at Ibrox , unrest between Park & King . Begging bowl being passed around and Hector is applying pressure .... allegedly! Link to comment Share on other sites More sharing options...
trotter Posted July 24, 2019 Share Posted July 24, 2019 6 hours ago, sadj said: 😂😂😂😂 The comments It's truly incredible. I fully know that there must be a bunch of 'others' on there causing mischief, but the standard 'it shouldn't apply to us because we're special' line is there for all to see. To paraphrase a well-known quote, "you can fool some of ra people all of the time..." Link to comment Share on other sites More sharing options...
The Future's Maroon Posted July 24, 2019 Share Posted July 24, 2019 The Banter Years, so far... EBT's Big Tax Case Wee Tax Case Craig Whyte, 'wealth off the radar' Craig Whyte's pound coin Jelavic, "titles in the bag" Arsenal Shares sold 67 Ibrox players to sue Rangers McCoist as manager The Big Hoose must stay open Big Hoose guy Administration Fans in tears on the news Jelly and Ice Cream Liquidation Walter Smith wishes new club well Mark Dingwall on STV News Mark Dingwall e-mails hospital More Jelly and Ice Cream 267 Creditors The "Switcheroo" Charles Green Sevco Club and Company are seperate things Dallas Cowboys Martin Bain ringfenced money Charles Green's Christmas Message The Blue Knights Applying for SFA Membership Applying to the SPL Applying to SFL1 Starting life in SFL3 Buying history Debenture seats relinquished Wee Stevie in IT The John Brown Speech Castles and Chateaux Googly eyes Dave King to invest £50m Dave King to invest "north of £30m" Dave King to invest £20m Dave King to invest £8m Dave King asks fans for money Where's ra deeds? Ball stuck in hedge Tannadice boycott Sandaza prank call Craig Houston The £500,000 Mega Bus The £500,000 Mega Bus up in flames Charles Green Deathbed Interview Same old Alloa, always cheating Ian Black betting against his own team 3 failed attempts at the Petrofac Cup Demanding to know Chris Graham, the 2-Day Director Ian Black getting halved by Broonie McCoist on gardening leave McDowall as manager McDowall on gardening leave McCall as manager Goosebumps Cammy Bell Submarine Sunday Sick of Jelly and Ice Cream now McCall unemployed The Gazebo at the AGM Water piped in from local church, for free Gangsters in charge Lionbrand tops Mike Ashley Mike Ashley owns the badge Hibs 3-2 The Rangers Hampden riot Lee Wallace is a grass Warburton next England Manager Bread wrappers for hats The gap is closing Idiots sitting in tanks, radioing requests to the UB There is no gap Going for 55 Joey Barton 5-1 at Celtic Park 5-1 at Ibrox Pitch invasion at Firhill Martyn Waghorn noised up outside chippy Warburton dragged out of a press conference Simunovic putting Miller into orbit The Invincible Treble! Jim Traynor Level 5 Scott Allan, one of their own Warburton being 'resigned' Pedro Caixinha Here to take your title (various) Pedro's mini-leagues Salt & Pepper tactics Barking dogs and caravans Progres Niederkorn Arguing with fans in a hedge Carlos Pena Dalcio Craig Whyte walks free Banning green boots Graeme Murty Headstands Celebrating a draw McInnes is coming home Didn't want McInnes anyway Union Bears moving for home games Statements Miller's re-used shirt Chinese bid for Morelos Barry Ferguson Bankrupt Whit's the goalie daein' Tam? 3-2 at Ibrox with 10 men Cheering the Scottish Cup draw Battle fever is on! Humped 4-0 at Hampden Captain suspended Miller sacked We deserve better Fans padlock the gates Dave King says he's skint Hummel Steven Gerrard Skrtel is coming Defoe is coming Let's go! Easyjet flights, A4 tickets, Economy Class Patio furniture at training camp Golf buggies instead of a coach Wheelie bins Morelos for £2m Orange strip The Take Over Panel Ruling Dave King facing jail for Contempt of Court Sports Direct tanks on the lawn Socks on the wrong feet Training tops and no pennant Mike Ashley's £500,000 legal fees Paddy Power paying out after 1 game The Airport Loyal The Fanzone Kenny Miller & The Grass suing The Club for £100k Nacho Novo saying it's 'not fair' The Double Treble! George Peat Shin pads, 1 pair between 2 Stripe-gate Peaky Blinders are Tims! Staunch News Rangers Shareholders and Organised Crime Winners of the inaugural "Top-After-14-Games" Cup Dundee away Winning the "13th-Time-Lucky Cup" Andy Halliday in tears The 'best day' of Andy Halliday's life... Going "All In" Andrew Dallas awards 4 (four) penalties at Ibrox Morelos 3-Game ban BBC Protest with 18 fans Andy Halliday going mental at Celtic Park Made-up SFA charges Alex Rae, cheerleader Joe Worrall & Tart, in a taxi, rent-free... Rangers to become the dominant force again. Again. Only one bid for Morelos, of 3m Euro Trophy Room at Ibrox renamed as 'The Museum' The Treble Treble! Smiles are better than trophies Warburton says "next season" because it's his turn to say it Crowd-funding to buy Ryan Kent makes £45 in 2 months Pop-up shop at The Louden Tavern Link to comment Share on other sites More sharing options...
Deevers Posted July 24, 2019 Share Posted July 24, 2019 And more, much more to come. Link to comment Share on other sites More sharing options...
The Future's Maroon Posted July 24, 2019 Share Posted July 24, 2019 8 minutes ago, Deevers said: And more, much more to come. Seems very much like it, lmfao. (that list I posted came from a Celtic fan so a couple are more aimed at The Rangers from Celtic fans, but going through the list is funny as hell and shows what a basket case of clubs they are/were). Link to comment Share on other sites More sharing options...
Beast Boy Posted July 24, 2019 Share Posted July 24, 2019 11 hours ago, trotter said: See after all the dirty tricks they used to play with the banks in order to stiff other clubs, that is delicious. This is where I am. Delicious karma for all the many times they used BoS to force clubs to sell players on the cheap. Link to comment Share on other sites More sharing options...
JamboAl Posted July 24, 2019 Share Posted July 24, 2019 6 hours ago, Meadows said: The Chinese whispers are gaining momentum ( again ) regarding the finances at Ibrox , unrest between Park & King . Begging bowl being passed around and Hector is applying pressure .... allegedly! That would be especially interesting. I'd be a little surprised if the club (in its own right) would have much to worry about as they are likely to have tax losses to bring forward plus, the way they are buying/paying players, I would have thought there would be little or no tax liability to cause serious problems.. IF, however, Hector is having to chase for the PAYE/NIC being deducted from salaries, and not being remitted, that is a different matter and would suggest they are having cash flow problems. Time for more soft loans, me thinks. There is of course also the possibility that Park is seeking repayment of soft loans he has maybe given already and that is creating the acrimony (if true) between Park and King. Link to comment Share on other sites More sharing options...
john5698 Posted July 24, 2019 Share Posted July 24, 2019 3 minutes ago, JamboAl said: That would be especially interesting. I'd be a little surprised if the club (in its own right) would have much to worry about as they are likely to have tax losses to bring forward plus, the way they are buying/paying players, I would have thought there would be little or no tax liability to cause serious problems.. IF, however, Hector is having to chase for the PAYE/NIC being deducted from salaries, and not being remitted, that is a different matter and would suggest they are having cash flow problems. Time for more soft loans, me thinks. There is of course also the possibility that Park is seeking repayment of soft loans he has maybe given already and that is creating the acrimony (if true) between Park and King. Not forgetting their VAT, I would assume the amount of VAT on their season tickets would be quite considerable. Link to comment Share on other sites More sharing options...
132goals1958 Posted July 24, 2019 Share Posted July 24, 2019 13 minutes ago, JamboAl said: That would be especially interesting. I'd be a little surprised if the club (in its own right) would have much to worry about as they are likely to have tax losses to bring forward plus, the way they are buying/paying players, I would have thought there would be little or no tax liability to cause serious problems.. IF, however, Hector is having to chase for the PAYE/NIC being deducted from salaries, and not being remitted, that is a different matter and would suggest they are having cash flow problems. Time for more soft loans, me thinks. There is of course also the possibility that Park is seeking repayment of soft loans he has maybe given already and that is creating the acrimony (if true) between Park and King. Like every other business they have to submit Real Time Information with the liability paid by the subsequent 22nd day of the month. As already mentioned their Vat liability due on a quarterly basis will include a hefty amount for season ticket receipts. It is possible it has already been paid depending on their vat period. Surely as they are only temporarily holding those funds on behalf of the government they wouldn,t dip into it would they.🤯 Link to comment Share on other sites More sharing options...
Footballfirst Posted July 24, 2019 Share Posted July 24, 2019 14 minutes ago, JamboAl said: That would be especially interesting. I'd be a little surprised if the club (in its own right) would have much to worry about as they are likely to have tax losses to bring forward plus, the way they are buying/paying players, I would have thought there would be little or no tax liability to cause serious problems.. IF, however, Hector is having to chase for the PAYE/NIC being deducted from salaries, and not being remitted, that is a different matter and would suggest they are having cash flow problems. Time for more soft loans, me thinks. There is of course also the possibility that Park is seeking repayment of soft loans he has maybe given already and that is creating the acrimony (if true) between Park and King. Rumours of their impending demise are much exaggerated, at least at this stage. Repayment of soft loans? They are in the process of being converted to equity following their general meeting last month. The club will nominally be debt free when that conversion is complete (before Nov/Dec). Yes, they continue to spend more than they earn, but if they can repeat their run to the EL group stage then it will go a long way to balance the books. Their revenue would have gone up by around £12m-£14m in the last financial year, from a mix of 7 home sell outs, broadcasting, advertising and prize money. Sure there will be costs associated with that but I suspect that we will find that they borrowed less than they were forecasting at this time last year. IIRC I think they were forecasting a £4m shortfall last season, but going by the figures being banded about at the time of the share conversion it looks as if they only needed about £400k. The club is now required to disclose any tax arrears (PAYE,NIC or VAT) to the SFA and would be subject to an immediate transfer embargo and possible issues with their UEFA licence, so I can't see that being the case. It may take another year before any settlement with SDI is agreed or enforced, so it may appear on the accounts as a contingent liability. They do have a couple of players that could attract low £million transfer fees that again could fill a shortfall, but that could affect performances on the park. The biggest risk at the moment would be missing out on the EL group stages, which would force a rethink on spending plans. Link to comment Share on other sites More sharing options...
Biguche Posted July 24, 2019 Share Posted July 24, 2019 3 hours ago, The Future's Maroon said: The Banter Years, so far... EBT's Big Tax Case Wee Tax Case Craig Whyte, 'wealth off the radar' Craig Whyte's pound coin Jelavic, "titles in the bag" Arsenal Shares sold 67 Ibrox players to sue Rangers McCoist as manager The Big Hoose must stay open Big Hoose guy Administration Fans in tears on the news Jelly and Ice Cream Liquidation Walter Smith wishes new club well Mark Dingwall on STV News Mark Dingwall e-mails hospital More Jelly and Ice Cream 267 Creditors The "Switcheroo" Charles Green Sevco Club and Company are seperate things Dallas Cowboys Martin Bain ringfenced money Charles Green's Christmas Message The Blue Knights Applying for SFA Membership Applying to the SPL Applying to SFL1 Starting life in SFL3 Buying history Debenture seats relinquished Wee Stevie in IT The John Brown Speech Castles and Chateaux Googly eyes Dave King to invest £50m Dave King to invest "north of £30m" Dave King to invest £20m Dave King to invest £8m Dave King asks fans for money Where's ra deeds? Ball stuck in hedge Tannadice boycott Sandaza prank call Craig Houston The £500,000 Mega Bus The £500,000 Mega Bus up in flames Charles Green Deathbed Interview Same old Alloa, always cheating Ian Black betting against his own team 3 failed attempts at the Petrofac Cup Demanding to know Chris Graham, the 2-Day Director Ian Black getting halved by Broonie McCoist on gardening leave McDowall as manager McDowall on gardening leave McCall as manager Goosebumps Cammy Bell Submarine Sunday Sick of Jelly and Ice Cream now McCall unemployed The Gazebo at the AGM Water piped in from local church, for free Gangsters in charge Lionbrand tops Mike Ashley Mike Ashley owns the badge Hibs 3-2 The Rangers Hampden riot Lee Wallace is a grass Warburton next England Manager Bread wrappers for hats The gap is closing Idiots sitting in tanks, radioing requests to the UB There is no gap Going for 55 Joey Barton 5-1 at Celtic Park 5-1 at Ibrox Pitch invasion at Firhill Martyn Waghorn noised up outside chippy Warburton dragged out of a press conference Simunovic putting Miller into orbit The Invincible Treble! Jim Traynor Level 5 Scott Allan, one of their own Warburton being 'resigned' Pedro Caixinha Here to take your title (various) Pedro's mini-leagues Salt & Pepper tactics Barking dogs and caravans Progres Niederkorn Arguing with fans in a hedge Carlos Pena Dalcio Craig Whyte walks free Banning green boots Graeme Murty Headstands Celebrating a draw McInnes is coming home Didn't want McInnes anyway Union Bears moving for home games Statements Miller's re-used shirt Chinese bid for Morelos Barry Ferguson Bankrupt Whit's the goalie daein' Tam? 3-2 at Ibrox with 10 men Cheering the Scottish Cup draw Battle fever is on! Humped 4-0 at Hampden Captain suspended Miller sacked We deserve better Fans padlock the gates Dave King says he's skint Hummel Steven Gerrard Skrtel is coming Defoe is coming Let's go! Easyjet flights, A4 tickets, Economy Class Patio furniture at training camp Golf buggies instead of a coach Wheelie bins Morelos for £2m Orange strip The Take Over Panel Ruling Dave King facing jail for Contempt of Court Sports Direct tanks on the lawn Socks on the wrong feet Training tops and no pennant Mike Ashley's £500,000 legal fees Paddy Power paying out after 1 game The Airport Loyal The Fanzone Kenny Miller & The Grass suing The Club for £100k Nacho Novo saying it's 'not fair' The Double Treble! George Peat Shin pads, 1 pair between 2 Stripe-gate Peaky Blinders are Tims! Staunch News Rangers Shareholders and Organised Crime Winners of the inaugural "Top-After-14-Games" Cup Dundee away Winning the "13th-Time-Lucky Cup" Andy Halliday in tears The 'best day' of Andy Halliday's life... Going "All In" Andrew Dallas awards 4 (four) penalties at Ibrox Morelos 3-Game ban BBC Protest with 18 fans Andy Halliday going mental at Celtic Park Made-up SFA charges Alex Rae, cheerleader Joe Worrall & Tart, in a taxi, rent-free... Rangers to become the dominant force again. Again. Only one bid for Morelos, of 3m Euro Trophy Room at Ibrox renamed as 'The Museum' The Treble Treble! Smiles are better than trophies Warburton says "next season" because it's his turn to say it Crowd-funding to buy Ryan Kent makes £45 in 2 months Pop-up shop at The Louden Tavern That's bordering on obsessive mate Link to comment Share on other sites More sharing options...
132goals1958 Posted July 24, 2019 Share Posted July 24, 2019 5 minutes ago, Footballfirst said: Rumours of their impending demise are much exaggerated, at least at this stage. Repayment of soft loans? They are in the process of being converted to equity following their general meeting last month. The club will nominally be debt free when that conversion is complete (before Nov/Dec). Yes, they continue to spend more than they earn, but if they can repeat their run to the EL group stage then it will go a long way to balance the books. Their revenue would have gone up by around £12m-£14m in the last financial year, from a mix of 7 home sell outs, broadcasting, advertising and prize money. Sure there will be costs associated with that but I suspect that we will find that they borrowed less than they were forecasting at this time last year. IIRC I think they were forecasting a £4m shortfall last season, but going by the figures being banded about at the time of the share conversion it looks as if they only needed about £400k. The club is now required to disclose any tax arrears (PAYE,NIC or VAT) to the SFA and would be subject to an immediate transfer embargo and possible issues with their UEFA licence, so I can't see that being the case. It may take another year before any settlement with SDI is agreed or enforced, so it may appear on the accounts as a contingent liability. They do have a couple of players that could attract low £million transfer fees that again could fill a shortfall, but that could affect performances on the park. The biggest risk at the moment would be missing out on the EL group stages, which would force a rethink on spending plans. I would think the auditors will insist a provision is included in the accounts.As you say they have sale-able assets which could stem the tide, but might have to sell lower than their own valuation. Link to comment Share on other sites More sharing options...
1971fozzy Posted July 24, 2019 Share Posted July 24, 2019 Will they just not sell their unhinged rat Morellos ? Sure they said they would get £30m for him ? That would pay everything off F them. Hope they go the way of the club formerly known as Glasgow Rangers. Link to comment Share on other sites More sharing options...
kila Posted July 24, 2019 Share Posted July 24, 2019 That list is brilliant Need to get a cartoonist involved. Link to comment Share on other sites More sharing options...
JackLadd Posted July 24, 2019 Share Posted July 24, 2019 Spotted this on Twitter, a happy hun after King told them the new SD deal was all ticketus boo. 😂 Link to comment Share on other sites More sharing options...
john5698 Posted July 24, 2019 Share Posted July 24, 2019 ironically, if their vat quarter is March, April and May, if they pay through the bank, the payment would have been due on the 12th july😘 Link to comment Share on other sites More sharing options...
Seymour M Hersh Posted July 24, 2019 Share Posted July 24, 2019 1 hour ago, john5698 said: Not forgetting their VAT, I would assume the amount of VAT on their season tickets would be quite considerable. 20% would be my guess. Link to comment Share on other sites More sharing options...
Spellczech Posted July 24, 2019 Share Posted July 24, 2019 On 15/07/2019 at 15:27, reaths17 said: that's not strictly true. green paid the liquidators £5m for rangers history, then the league buried their heads in the sand as if nothing ludicrous had happened. I've always suspected the "bought history" was just a sham to cover a fine imposed for all the cost related to the mess old Rangers caused...I mean how preposterous is the idea of buying a club's history and titles. Could Celtic have bought the rights to old co's titles? Would've been a nice fit to complement their own...bonkers. Link to comment Share on other sites More sharing options...
Tommy Brown Posted July 24, 2019 Share Posted July 24, 2019 56 minutes ago, JackLadd said: Spotted this on Twitter, a happy hun after King told them the new SD deal was all ticketus boo. 😂 Link to comment Share on other sites More sharing options...
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