The Rangers soap opera goes on and on.

[269miles]

It could be argued that it's in fact every fan outwith of Rangers who has paid the price by buying season tickets/tickets for games that were overwhelmingly skewed in Rangers' favour.

I don't disagree , just saying that Celtic fans were the biggest losers in the sense they were predominantly the most likely winners in the OF duopoloy.

Edited November 4, 2015 by 269miles

[Hagar the Horrible]

Fans haven't paid anything. Quite the opposite. They watched their team hoover up honours via a team that Rangers RIP could not have otherwise attracted/afforded.

 

It's Celtic fans who have largely paid a price , if anyone has, in forking out for season tickets in a competiton skewed in favour of deidco.

Not true that Davis Gate game was full of players who by definition were playing with undisclosed dual contracts, we never got into Europe that year, we as fans were denied a good trip abroad somewhere, while theirs were lording it ablove Scottish football celebrating another tainted title

[Jambo 4 Ever]

So they have a guarantee of funding which will allow them to see out the season?

 

Good.

So you like rangers?

Why is this good?

[Eldar Hadzimehmedovic]

Shows how ridiculous the original ruling was. Pretty sure the one judge who ruled in favour of HMRC said she was baffled by the ruling of the other two.

[Jodami]

So today we have the big tax case judgement and by coincidence der hun release their financial results as well.

Mr. Houston stated the other day that by the end of the week everybody would know what a rat Mike Ashley was, so unless I'm mistaken that means there is even more bad news coming in the next day or so or is it the accounts he was referring to?

 

I can hardly wait.

I think Houston is referring to this JJ

 

http://www.dailyrecord.co.uk/news/scottish-news/rangers-chairman-dave-king-faces-6762594

[And he's not praying]

So you like rangers?

Why is this good?

 

 

Not particularly.

 

They'll finish above Hibs.

 

HTH.

[Jambo66]

I don't disagree , just saying that Celtic fans were the biggest losers in the sense they were predominantly the most likely winners in the OF duopoloy.

While I don't disagree with you that Celtic would likely have benefited the most, the truth is that Rangers only managed to finish second in the league once from 1978 to 1986 inclusive. In that period, Celtic won the title 4 times out of 8. In other words, there is some evidence that when one if the arse cheeks is hobbled, competition improves and other teams get closer to the other one.

 

Indeed, when Rangers won 9 in a row, Celtic were runners up only twice. That was a period when Celtic were in financial disarray. Other teams challenged and to some extent filled the void.

 

My point is that had Rangers not cheated, there is every possibility that other teams would have won the league - just as happened in the 80s.

 

It is certainly the case that other teams would have won cups

[The Don]

Exactly this. Since the arrival of Souness and the big spending of the mid 80s, the huns have been living out with their means and have cheated their way to one financially doped title after another. The rest of Scottish fitba very nearly went bust tying to keep up with this illegally funded monster. The Orc hordes enjoyed many seasons of success until the bubble burst, they are the beneficiaries of the scheme as much as any player.

 

To paint them as victims is laughable. Hopefully today's verdict reopens the question of all of their trophies won while evading taxes. And also, should the sale out of liquidation come into question, as it appears it might, today's verdict might lead to justice for the creditors in the shape of a proper asset sale. Ibrox sold to property developers, the five way agreement deemed illegal, the Huns gone for good.

 

Now - that would be justice, which along with truth and sporting integrity is all that decent football fans have wanted from the beginning.

Oh your such a tease. I'm nursing a semi at the thought of a judgement against the liquidation and a proper asset stripping firesale.

 

Sent from my SM-A500FU using Tapatalk

[Maroon tinted glasses 2]

Since season 2001/2 Hearts have finished in the SPL 

 

1/2 = 5th

2/3 = 3rd

3/4 = 3rd

4/5 = 5th

5/6 = 2nd

6/7 = 4th

7/8 = 8th

8/9 = 3rd

9/10 = 6th

 

so apart from seasons 04/05, 05/06 and 07/08 then the unfair advantage given to rangers in allowing them to attract better players by unfairly paying increased non taxed salaries has affected Hearts in either a higher placed finish resulting in Europa or at the very least a Champions League qualification spot on 6 occasions. 

[maroonlegions]

[Jamboelite]

So OldCo cheated to their titles

 

Newco have released the accounts on the same day to avoid the questions on this and on paper it is a massive loss making business with an 80% wages to turnover rate that requires immediate funding

 

Love days like this.

[The Don]

Our resident sevconians are very quiet tonight. I do hope today's news hasn't tipped them over the edge.

 

 

Sent from my iPhone using Tapatalk

[Jambo-Jimbo]

I'm looking forward to the pull-out section in the papers tomorrow with the full story of just how much Rangers cheated the whole of Scottish Football for many years and that the public are right to demand answers.

 

 

 

 

On second thoughts maybe not.

[Jambo-Jimbo]

Our resident sevconians are very quiet tonight. I do hope today's news hasn't tipped them over the edge.

 

 

Sent from my iPhone using Tapatalk

 

The silence is deafening.

[Jamboelite]

The silence is deafening.

Its all just wishful fantasy posting in this thread havent you heard.

[Jambo 4 Ever]

Will this affect David Murray at all? Or is he innocent in all this

[Sidsnot]

Spiers has his tuppence worth,please don't strip us. poll 90% say yes,strip them of their titles.

 

http://www.heraldscotland.com/sport/13944277.Spiers_on_Sport__The_truth_hurts__but_not_as_much_as_the_damage_done/

 

The word ?cheating? has become highly charged and emotive around the subject of Rangers FC.

The club?s directors are embarrassed at its use. The club?s fans spit fury at the very suggestion.

 

The ignominy of ?cheating? being foisted on Rangers around its tax affairs has become detested, and with good reason. A club that historically afforded itself a sense of dignity simply could not live with being seen to take part in some Arthur Daley-type practices.

 

This is all germane again following the judgement in the Court of Session today that the pre-2012 Rangers indulged in years of illegal tax avoidance.

 

The Lords Carloway, Menzies and Drummond Young took a surprisingly tart view of it all, cutting through impenetrable legal subterfuge to reach ?a common sense? view which has been held by most people on the outside for years.

 

The Court of Session said it was blindingly obvious that the millions of pounds hived off to Rangers players via dubious ?side letters? in the years between 2001 and 2010 were earnings which should have been subject to tax.

 

The use of EBTs for tax avoidance ? by which the Queen?s revenue collectors could be thwarted ? was by no means peculiar to Rangers. It had become a rampant racket right across Britain. Thousands of companies used the tactic before EBTs were finally outlawed.

 

But in Scottish football, the spotlight fell on Rangers. HMRC pursued the club vigorously, because the Revenue?s policy is to mercilessly claw back the tens of millions it feels the national exchequer has been denied.

 

Rangers, it has to be said, have fought a very impressive legal case. These Court of Session lords might have deemed the wrongdoing to be obvious, but competent lawyers are capable of winning almost any argument.

 

In this context I have never forgotten what one prominent Rangers fan in the media said to me four years ago: ?The entire world knows that Rangers have been at it with EBTs ? but getting lawyers to prove it will be another matter.?

 

The judgement of illegal activity by Rangers ? if or when this saga is concluded ? will leave an ungodly mess to be sorted.

 

The club paid the ultimate price in 2012 ? liquidation. That event has left Scottish football poisoned, with acrimonious debate about Rangers? history going into overdrive in recent years. But the ?newco Rangers? ? whatever your interpretation of that ? will not be financially affected.

 

Dave King has subsequently said he wants to ?put the old Rangers back into the old company?. Heaven alone knows what that actually means, never mind whether it can be done.

 

A guilty Rangers ? if this is the end of the matter - also leaves the Scottish FA in a precarious position. Retrospective title-stripping looks a futile business to me, but it goes on in other sports, and the SFA stand accused of being timorous in the face of the wrongdoing.

 

Is title-stripping an option? Yes, it is, though I wouldn?t assent to it. The misdeeds have been done, and Rangers FC paid a high price.

 

What is to be gained in trampling back over history and spearing a liquidated football club with further punishment? There always will be an asterisk in the public mind beside these dodgy Rangers years. I cannot see the benefit in the retrospective expunging of trophies.

 

As for Sir David Murray?s business empire, which actually ran Rangers FC?s tax avoidance, it has been largely scaled back, with various subsidiaries sold off. Doubtless there could be further legal repercussions brewing, which could conceivably reach the Supreme Court.

 

Murray will feel greatly pained over this saga. It serves little to go back over his fateful involvement in it all. He will go to his grave nursing sorrow over what befell the old Rangers. It is as grim a story as Scottish football has known.

 

Today was meant to be about another Rangers story. The club has just announced an annual loss of ?7.5m as King and co strive to put Rangers on an even keel again.

 

Is King ever going to make a significant cash injection in the club? Rangers fans remain hopeful but the evidence for it is still flimsy.

Share article

 

The past, meanwhile, haunts the club and its support. The fact is, if Rangers FC had not tried to cut corners in paying tax, none of this agony would have occurred.

[Jambo-Jimbo]

Its all just wishful fantasy posting in this thread havent you heard.

 

 With no debating either.

[Sidsnot]

Will this affect David Murray at all? Or is he innocent in all this

Guilty as charged M'lud.

Sentenced to watch RFC for life.

[CJGJ]

http://www.bbc.co.uk/sport/0/football/34719401

 

Rangers need ?2.5m of external funding before the end of the season and have announced  a loss of ?7.5m for the year ending 30 June.

The Championship club are confident the money will be made available from existing shareholders.

Chairman Dave King insists the figures do not reflect the changes implemented since the consortium he led assumed control in March.

"The year under way is already much more promising on all fronts," he said.

"I look forward to this time next year when I can comment on a financial year that is wholly under the influence and guidance of the new board."

With Rangers five points clear at the top of the table and the club reporting a "significant increase" in season ticket sales, King added that "there is once again a genuine belief that the club faces a much brighter future".

 

Last week, the Ibrox outfit said they were postponing a share issue and listing on the ISDX market until criminal proceedings against former directors Craig Whyte, Charles Green, Imran Ahmed and others are concluded.

The club said it was "satisfied" there was no short-term need for the funding the share issue would have generated.

Rangers' operating expenses for the period under revue were ?26.8m, down from ?27.7m, while turnover fell to ?16.5m from ?17.6m.

The figures are a slight improvement on the previous campaign, when the club lost ?8.1m.

Analysis - BBC Scotland's Richard Wilson

Rangers International Football Club's accounts detail a business that is still working towards recovery.

The business remains dependent on additional financing to cover losses. There was an increase in season-ticket sales during the summer, but it is forecast that the first tranche of external funding "will be required in December 2015".

 

The going concern status of the business - its ability to trade for the next 12 months - is not affected by the funding requirements, since "the board has received undertakings from certain shareholders that they will provide financial support to the group and have satisfied themselves as to the validity of these undertakings and that the individuals have the means and the authority to provide such funding as and when it is required".

In short, chairman Dave King and the Park family will likely provide the majority of the funding needed to sustain the business, with the loans provided on a non-interest basis and probably converted to equity at a later date.

The accounts also show that Douglas Park, along with George Letham and George Taylor, provided loans totalling ?2.25m in March and April and then in May. New Oasis Limited - a company controlled by King - provided ?1.5m.

By way of comparison, the last set of full RIFC accounts - published in November 2014 - said that the business would require ?8m in the following 12 months and the auditors included an emphasis of matter paragraph, highlighting that there was "material uncertainty on the group's ability to continue as a going concern".

"The poor performance of the retail business continues to exercise the collective mind of the board," wrote King in his accounts statement, alluding to the relationship with Sports Direct, which owns 75% of Rangers' retail operation.

The notice of RIFC's annual meeting on 27 November includes resolutions to allow the board to issue shares to existing and new shareholders.

There will also be a special resolution seeking to remove the voting rights of any shareholder "if he is involved in any capacity whatsoever in the management or administration of a club, or has any power whatsoever to influence the management or administration of a club".

Mike Ashley, whose MASH investment company owns a little under 10% of RIFC shares, is also the owner of Newcastle United and the majority shareholder in Sports Direct.

[Sidsnot]

Alex Thomson just blogged this.

 

http://blogs.channel4.com/alex-thomsons-view/rangers-court-decision/10052

[DETTY29]

Is Andrew Dickson ex Financial Controller / Head of Football Operations and Ebt receiver, the same Andrew Dickson appointed to the TRFC Board and recently to the SPFL ethics committee, or similar?

[The Don]

Spiers has his tuppence worth,please don't strip us. poll 90% say yes,strip them of their titles.

 

http://www.heraldscotland.com/sport/13944277.Spiers_on_Sport__The_truth_hurts__but_not_as_much_as_the_damage_done/

 

The word ?cheating? has become highly charged and emotive around the subject of Rangers FC.

The club?s directors are embarrassed at its use. The club?s fans spit fury at the very suggestion.

 

The ignominy of ?cheating? being foisted on Rangers around its tax affairs has become detested, and with good reason. A club that historically afforded itself a sense of dignity simply could not live with being seen to take part in some Arthur Daley-type practices.

 

This is all germane again following the judgement in the Court of Session today that the pre-2012 Rangers indulged in years of illegal tax avoidance.

 

The Lords Carloway, Menzies and Drummond Young took a surprisingly tart view of it all, cutting through impenetrable legal subterfuge to reach ?a common sense? view which has been held by most people on the outside for years.

 

The Court of Session said it was blindingly obvious that the millions of pounds hived off to Rangers players via dubious ?side letters? in the years between 2001 and 2010 were earnings which should have been subject to tax.

 

The use of EBTs for tax avoidance ? by which the Queen?s revenue collectors could be thwarted ? was by no means peculiar to Rangers. It had become a rampant racket right across Britain. Thousands of companies used the tactic before EBTs were finally outlawed.

 

But in Scottish football, the spotlight fell on Rangers. HMRC pursued the club vigorously, because the Revenue?s policy is to mercilessly claw back the tens of millions it feels the national exchequer has been denied.

 

Rangers, it has to be said, have fought a very impressive legal case. These Court of Session lords might have deemed the wrongdoing to be obvious, but competent lawyers are capable of winning almost any argument.

 

In this context I have never forgotten what one prominent Rangers fan in the media said to me four years ago: ?The entire world knows that Rangers have been at it with EBTs ? but getting lawyers to prove it will be another matter.?

 

The judgement of illegal activity by Rangers ? if or when this saga is concluded ? will leave an ungodly mess to be sorted.

 

The club paid the ultimate price in 2012 ? liquidation. That event has left Scottish football poisoned, with acrimonious debate about Rangers? history going into overdrive in recent years. But the ?newco Rangers? ? whatever your interpretation of that ? will not be financially affected.

 

Dave King has subsequently said he wants to ?put the old Rangers back into the old company?. Heaven alone knows what that actually means, never mind whether it can be done.

 

A guilty Rangers ? if this is the end of the matter - also leaves the Scottish FA in a precarious position. Retrospective title-stripping looks a futile business to me, but it goes on in other sports, and the SFA stand accused of being timorous in the face of the wrongdoing.

 

Is title-stripping an option? Yes, it is, though I wouldn?t assent to it. The misdeeds have been done, and Rangers FC paid a high price.

 

What is to be gained in trampling back over history and spearing a liquidated football club with further punishment? There always will be an asterisk in the public mind beside these dodgy Rangers years. I cannot see the benefit in the retrospective expunging of trophies.

 

As for Sir David Murray?s business empire, which actually ran Rangers FC?s tax avoidance, it has been largely scaled back, with various subsidiaries sold off. Doubtless there could be further legal repercussions brewing, which could conceivably reach the Supreme Court.

 

Murray will feel greatly pained over this saga. It serves little to go back over his fateful involvement in it all. He will go to his grave nursing sorrow over what befell the old Rangers. It is as grim a story as Scottish football has known.

 

Today was meant to be about another Rangers story. The club has just announced an annual loss of ?7.5m as King and co strive to put Rangers on an even keel again.

 

Is King ever going to make a significant cash injection in the club? Rangers fans remain hopeful but the evidence for it is still flimsy.

Share article

 

The past, meanwhile, haunts the club and its support. The fact is, if Rangers FC had not tried to cut corners in paying tax, none of this agony would have occurred.

 

 

Can almost hear the wailing and picture him trying to type that through tears and snotters. 

 

Get it right up all of ye, ya bunch of cheating cowards. Accept your due punishment you cheated end of. In any other sport those caught cheating are stripped of their medals/trophies/awards and in most cases banned. 

[Eldar Hadzimehmedovic]

Speirs' butthurt is immense. While saga finished him a as a serious football journalist and he's never quite got over it.

[Sidsnot]

Can almost hear the wailing and picture him trying to type that through tears and snotters. 

 

Get it right up all of ye, ya bunch of cheating cowards. Accept your due punishment you cheated end of. In any other sport those caught cheating are stripped of their medals/trophies/awards and in most cases banned.

 

STV just said they'll keep their titles,so that was officially OLDCO,does this mean the new club won't be able to ever claim them?

If so,try telling that to Zombies,we ALL know the score.

[Craig Gordons Gloves]

[Jamboelite]

I tell you what is brilliant PR is getting these accounts out today.

 

Not much scrutiny on them so far.

[The Gasman]

Is Andrew Dickson ex Financial Controller / Head of Football Operations and Ebt receiver, the same Andrew Dickson appointed to the TRFC Board and recently to the SPFL ethics committee, or similar?

Nothing to see here....

 

Just move along please....

 

Edited November 4, 2015 by The Gasman

[Drumelzier]

Shows how ridiculous the original ruling was. Pretty sure the one judge who ruled in favour of HMRC said she was baffled by the ruling of the other two.

 

Yes, considering todays ruling I'm staggered that two of the three judges originally ruled in Rangers' favour.

[...a bit disco]

This just appeared on my Facebook.

 

'Hector is a taxman

he wears the magic hat

the huns said we are innocent

Hector said **** that

your 15 years of cheating

your titles are now mine

your not on 54 ya *****

your down to 39'

 

[The Don]

 

This just appeared on my Facebook.

 

'Hector is a taxman

he wears the magic hat

the huns said we are innocent

Hector said **** that

your 15 years of cheating

your titles are now mine

your not on 54 ya *****

your down to 39'

 

 

 

 

Hahaha Brilliant

[Geoff Kilpatrick]

I tell you what is brilliant PR is getting these accounts out today.

 

Not much scrutiny on them so far.

Given the shambles that they were last year I don't think their accounts were that bad.

[The Comedian]

[8skacel8]

A perfect fit.

[Riccarton3]

That piece by Speirs- why so hysterical? They cheated like so many in sport and got caught. Surely, if there's forever going to be a huge asterisk against all those dubious titles, you're better off without them?

 

I reckon any team should be looking to lose titles on such damning evidence. For other Scottish clubs this would now be happening and Speirs tears would be non existent.

Edited November 4, 2015 by Riccarton3

[Dutchmul]

So finally common sense prevailed and the legal profession finally acknowledged what everyone else(except the orcs) knew, EBT's where illegal and rangers should have paid the tax on the payments.

 

Lots of other bad news today for the kool aid drinking sevconians - annual accounts are pretty horrific, more loans needed to fund sevco(like we didn't already know that), king served with a contempt of court order(due in court early december) lawyers will be getting an early xmas bonus with the legal fees from that one, rumours paul murray also served with a contempt order, the 400k fine from the LNS charade is due to be confirmed any day after a hearing at the end of october, greens legal fees hearing due in the next fortnight and to top it all, they got beaten by hubz.

 

SFA/SPFL looking like complete morons with the LNS charade, ogilvie now looks like at best he gave misleading evidence to LNS, at worst he simply lied, will they cave in re the noise over title stripping now that ebts have been judged to be illegal by a scottish court?

 

Very enjoyable day so far.

[Diadora Van Basten]

So now that they have rightly been found guilty then will those responsible for the implementation of EBTs stop blaming Craig Whyte for Rangers going into admin (they don't admit that they are being liquidated).

 

In my opinion that would be the directors of old cousin David Murray, Paul Murray, King and Ogilvie.

[Big Slim Stylee]

 

This just appeared on my Facebook.

 

'Hector is a taxman

he wears the magic hat

the huns said we are innocent

Hector said **** that

your 15 years of cheating

your titles are now mine

your not on 54 ya *****

your down to 39'

 

 

 

Now that is genuinely great - give or take the usual "your-you're" stuff

[Glamorgan Jambo]

Given the shambles that they were last year I don't think their accounts were that bad.

They're full of 'best case' assumptions though.

 

No liability to Green's legal fees.

No liability for the SPL tribunal fine and costs.

No fines or sanctions for the contempt case next month.

 

And the glaringly obvious one is complete trust that King and his fellow directors are good for the ?2.5 million shortfall.

 

Any one of these points going against them will cause problems, more than one and it's very serious.

 

I think King has already shown he's a loose cannon. If they ditched him I think they'd be way better off.

[Geoff Kilpatrick]

They're full of 'best case' assumptions though.

 

No liability to Green's legal fees.

No liability for the SPL tribunal fine and costs.

No fines or sanctions for the contempt case next month.

 

And the glaringly obvious one is complete trust that King and his fellow directors are good for the ?2.5 million shortfall.

 

Any one of these points going against them will cause problems, more than one and it's very serious.

 

I think King has already shown he's a loose cannon. If they ditched him I think they'd be way better off.

 

If that isn't true then their accounts would be fraudulent and King and co would face criminal charges.

 

As for the others, it is hard to quantify a liability for any of them.

[Dutchmul]

Given the shambles that they were last year I don't think their accounts were that bad.

 

Compared to ENRON's last accounts they are superb, compared to a properly run business they are absolute shit. They can only trade because of directors guarantees re future loans.

[August Landmesser]

Exactly this. Since the arrival of Souness and the big spending of the mid 80s, the huns have been living out with their means and have cheated their way to one financially doped title after another. The rest of Scottish fitba very nearly went bust tying to keep up with this illegally funded monster. The Orc hordes enjoyed many seasons of success until the bubble burst, they are the beneficiaries of the scheme as much as any player.

 

To paint them as victims is laughable. Hopefully today's verdict reopens the question of all of their trophies won while evading taxes. And also, should the sale out of liquidation come into question, as it appears it might, today's verdict might lead to justice for the creditors in the shape of a proper asset sale. Ibrox sold to property developers, the five way agreement deemed illegal, the Huns gone for good.

 

Now - that would be justice, which along with truth and sporting integrity is all that decent football fans have wanted from the beginning.

Post of the week.

 

Sent from my LG-H340n using Tapatalk

[Shanks]

Statement on the Rangers website correcting all the 'misleading information' today

[Bazzas right boot]

http://www.bbc.co.uk/sport/0/football/34719401

 

Rangers need ?2.5m of external funding before the end of the season and have announced  a loss of ?7.5m for the year ending 30 June.

The Championship club are confident the money will be made available from existing shareholders.

Chairman Dave King insists the figures do not reflect the changes implemented since the consortium he led assumed control in March.

"The year under way is already much more promising on all fronts," he said.

"I look forward to this time next year when I can comment on a financial year that is wholly under the influence and guidance of the new board."

With Rangers five points clear at the top of the table and the club reporting a "significant increase" in season ticket sales, King added that "there is once again a genuine belief that the club faces a much brighter future".

 

Last week, the Ibrox outfit said they were postponing a share issue and listing on the ISDX market until criminal proceedings against former directors Craig Whyte, Charles Green, Imran Ahmed and others are concluded.

The club said it was "satisfied" there was no short-term need for the funding the share issue would have generated.

Rangers' operating expenses for the period under revue were ?26.8m, down from ?27.7m, while turnover fell to ?16.5m from ?17.6m.

The figures are a slight improvement on the previous campaign, when the club lost ?8.1m.

Analysis - BBC Scotland's Richard Wilson

Rangers International Football Club's accounts detail a business that is still working towards recovery.

The business remains dependent on additional financing to cover losses. There was an increase in season-ticket sales during the summer, but it is forecast that the first tranche of external funding "will be required in December 2015".

 

The going concern status of the business - its ability to trade for the next 12 months - is not affected by the funding requirements, since "the board has received undertakings from certain shareholders that they will provide financial support to the group and have satisfied themselves as to the validity of these undertakings and that the individuals have the means and the authority to provide such funding as and when it is required".

In short, chairman Dave King and the Park family will likely provide the majority of the funding needed to sustain the business, with the loans provided on a non-interest basis and probably converted to equity at a later date.

The accounts also show that Douglas Park, along with George Letham and George Taylor, provided loans totalling ?2.25m in March and April and then in May. New Oasis Limited - a company controlled by King - provided ?1.5m.

By way of comparison, the last set of full RIFC accounts - published in November 2014 - said that the business would require ?8m in the following 12 months and the auditors included an emphasis of matter paragraph, highlighting that there was "material uncertainty on the group's ability to continue as a going concern".

"The poor performance of the retail business continues to exercise the collective mind of the board," wrote King in his accounts statement, alluding to the relationship with Sports Direct, which owns 75% of Rangers' retail operation.

The notice of RIFC's annual meeting on 27 November includes resolutions to allow the board to issue shares to existing and new shareholders.

There will also be a special resolution seeking to remove the voting rights of any shareholder "if he is involved in any capacity whatsoever in the management or administration of a club, or has any power whatsoever to influence the management or administration of a club".

Mike Ashley, whose MASH investment company owns a little under 10% of RIFC shares, is also the owner of Newcastle United and the majority shareholder in Sports Direct.

 

Some don't want this, however

 

Hibs win the league and Rangers do not come up, then they will die, the numbers do not add up.

 

They won't die in 3 or 5 years, another season in the lower league and they are done. They  are already a year behind in their plans due to us.

 

Imagine Utd, a rejuvenated Dunfermline and Ayr join them along with a St Mirren side that will surely re build.

 

I would laugh that hard I would pish myself, Rangers might get their wish to leave Scotland after all.

[Jambo 4 Ever]

Statement on the Rangers website correcting all the 'misleading information' today

What is it saying?

[Shanks]

http://rangers.co.uk/news/club/club-statement-55/

 

'For the avoidance of doubt, rangers have not lost the case'

 

Okay then.

Edited November 4, 2015 by Longshanks

[Glamorgan Jambo]

If that isn't true then their accounts would be fraudulent and King and co would face criminal charges.

 

As for the others, it is hard to quantify a liability for any of them.

They wouldn't face charges though --- they'd just claim there had been a change in their individual circumstances. And I know the auditors should have, and probably did, seek some comfort in the form of evidence of funds from each of the parties.

 

Their real issue is Dave King.....

[marshallschunkychicken]

http://rangers.co.uk/news/club/club-statement-55/

'For the avoidance of doubt, rangers have not lost the case'

Okay then.

Haha that's brilliant. Must have been the old club that lost then.

[Geoff Kilpatrick]

They wouldn't face charges though --- they'd just claim there had been a change in their individual circumstances. And I know the auditors should have, and probably did, seek some comfort in the form of evidence of funds from each of the parties.

 

Their real issue is Dave King.....

Leaving aside that King should never have passed the FPP test, his real issue was his havers over "over investment". If he hadn't had said anything like that, then he would deserve a fairer hearing.

[davieholt]

ony McKelvie ?@TonyMcKelvie  3m3 minutes ago

Those who conceived, implemented (and benefited from) the EBT scheme, were simultaneously Directors of SFA and SPL. That's the scandal.