colingwood Posted May 6, 2011 Share Posted May 6, 2011 and the other SPL clubs when the Rangers takeover goes through. The current situation is that Lloyds Bank is a secured creditor and will get their money back when this deal goes through. Murray gets rid of the albatross round his neck, albeit he takes a hit which may see LBG taking an even bigger chunk of his dwindling empire at some stage. Whyte will seperate out the tangible assets, Ibrox and Murray Park,thedn lend Rangers the money to continue setting either himself or his backers as secured creditors going forward. When the tax bill hits, as it is almost certain to do, Rangers FC will be liquidated but once the secured creditors, Whyte and/or his backers, are paid off there will be little for HMRC to take out of the club. RFC Mk II, Lets call the Glasgow Rangers as that is not part of their current official name, will re-emerge from the embers paying a rent to the owners of Ibrox to play there. They will then apply to re-join the SPL directly without climbing back up through any pyramid structure. It will be open to the other member clubs of the SPL to agree this providing the SFA have agreed to accept Glasgow Rangers as a member club. I am in no doubt that there will be a strong lobby within the SPL to agree this on financial grounds and that Celtic will be in the forefront of this push. What will Hearts position be? What should it be? In case anyone thinks this scenario is fanciful I would like to hear of an alternative strategy which makes Whyte and his backers money and guarantees they do not lose their shirts when the HMRC timebomb goes off. Link to comment Share on other sites More sharing options...
jambonian Posted May 6, 2011 Share Posted May 6, 2011 Rangers are playing by the skin of their teeth this season, the extra transfer money they get will screw the rest of us up so it's time for Vlad to think of the bigger picture. Link to comment Share on other sites More sharing options...
droid Posted May 6, 2011 Share Posted May 6, 2011 Rangers are playing by the skin of their teeth this season, the extra transfer money they get will screw the rest of us up so it's time for Vlad to think of the bigger picture. Im not sure what i think about this takeover? A lot of people are implying Whyte doesnt have a pot to piss in and has wound up numerous businesses(dont know how true that is). Also this 25 million being promised its over 5 years so thats 5 milion per season, theres 2 transfer windows per season making it 2.5 million per transfer window HARDLY seems like a lot for a club of there size and stature? Link to comment Share on other sites More sharing options...
Ben Dover Posted May 6, 2011 Share Posted May 6, 2011 Interesting view However if Rangers went out of business to avoid the HMRC payment then would they not technically HAVE to start on the bottom rung of the SFL ladder........or is the SPL a 'by invitation only' league I'd imagine the SFL clubs in divs 1-3 would love two visits from rangers per year, if only for one season as they scooted back up to the SPL ? Link to comment Share on other sites More sharing options...
marshallschunkychicken Posted May 6, 2011 Share Posted May 6, 2011 Would it not be seen as a form of tax evasion if they alter the structure of a company they know to be failing, in order to place themselves as secured creditors ahead of the HMRC, especially as they already know it is a potential liability. I can't see the HMRC going for that, it's essentially a way of hiding assets in the event of liquidation. Genuine question, it's 12 years since I studied any revenue law, and I was poor at it even then. Link to comment Share on other sites More sharing options...
CJGJ Posted May 6, 2011 Share Posted May 6, 2011 I would think that with the number of lawyers and personnel involved in this deal that most of the issue will have been cleared -- now states on BBC documents signed and reporting to stock exchange. The revenue case whilst of course important has been dealt with during discussions and I think you will find it will not be the obstacle many,especially of a hoops persuasion,are hoping for. Now as to whether he has real funds rather than just enough -- well a couple of Jambos working in the stock exchange made enquiries and he is no major hitter -- perhaps when you look at his partners this should come as no surprise. Link to comment Share on other sites More sharing options...
The Gasman Posted May 6, 2011 Share Posted May 6, 2011 Also this 25 million being promised its over 5 years so thats 5 milion per season, theres 2 transfer windows per season making it 2.5 million per transfer window HARDLY seems like a lot for a club of there size and stature? You've nailed the one point the Orcs continually seem to be missing. Walter Smith is continually having to sell assets (players) and to juggle the playing squad, as his budget is supposedly too small. Walter Smith got ?5m this year to spend, and the Orcs don't think it's anywhere near enough. Aly McCoist will get ?5m per year for the next five years (despite inflation continually pushing prices up) and these same Orcs think suddenly they'll be competing for the worlds top players. Go figure! Link to comment Share on other sites More sharing options...
Eggo Posted May 6, 2011 Share Posted May 6, 2011 I couldnt give a flying one about the takeover,ive seen it all before. Scottish football is static and Rangers are the same to me next week as they are today...lets just get on with it Link to comment Share on other sites More sharing options...
Spellczech Posted May 6, 2011 Share Posted May 6, 2011 Will also be interesting to see what Lloyds do with Murray once the very public part of his business has been moved on... Link to comment Share on other sites More sharing options...
john brownlee Posted May 6, 2011 Share Posted May 6, 2011 don't care about rantic but as sure as night turns to day they will come up smelling of roses they have already escaped the wrath of governing bodies were most ( including Hearts have fell foul) just look at the things we have been punished for, from tv rights to bad discipline and they lot get away with dodgy dealing ever since I can remember from poaching players to fixing refs (allegedly) and now the worst crime of all tax evasion, BTW that how they got al capone Link to comment Share on other sites More sharing options...
CavySlaveJambo Posted May 6, 2011 Share Posted May 6, 2011 The scenario the opening poster describes is an LBO Link to comment Share on other sites More sharing options...
albishop Posted May 6, 2011 Share Posted May 6, 2011 I'm curious as to whether it is 5m for transfer fees alone or 5m to buy players. I seem to recall we got caught up in this with Robinson, where it was found out the money available was to include player signing on fees etc. Link to comment Share on other sites More sharing options...
Governor Tarkin Posted May 7, 2011 Share Posted May 7, 2011 I couldnt give a flying one about the takeover,ive seen it all before. Scottish football is static and Rangers are the same to me next week as they are today...lets just get on with it In a nutshell mate. Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted May 7, 2011 Share Posted May 7, 2011 Im not sure what i think about this takeover? A lot of people are implying Whyte doesnt have a pot to piss in and has wound up numerous businesses(dont know how true that is). Also this 25 million being promised its over 5 years so thats 5 milion per season, theres 2 transfer windows per season making it 2.5 million per transfer window HARDLY seems like a lot for a club of there size and stature? Thats still about 2.1 million more than we'll have every signing window. Not a dig but thats a lot of money for our p!$$y league. Link to comment Share on other sites More sharing options...
Ben Dover Posted May 7, 2011 Share Posted May 7, 2011 Thats still about 2.1 million more than we'll have every signing window. Not a dig but thats a lot of money for our p!$$y league. True, but will Rangers have the nouse to be able to buy someone decent of the next shelf down ? ?2.5M wasted on another Lafferty character will suit me just fine ! Link to comment Share on other sites More sharing options...
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