Rangers Administration

[Average Joe]

Rangers could be forced into administration with debts as high as £80 million after being slapped with a £24m tax bill, reports The Scotsman.

The fine, handed by HM Revenue & Customs after an investigation into offshore payments made to players during the past decade, coupled with interest of £12m, could reach up to £54m.

Combined with Rangers' existing debt of around £30m those figures could leave the Gers drowning in monetary problems.

An source from the club was quoted in the Scottish newspaper as saying: "We're already struggling to pay £30m we owe the bank. Another £50m could tip us in to the abyss of administration.

"We've been hit with a £24m 'assessment' from the taxman. The implications are horrifying. The interest could be £12m and there may also be a penalty element of between £12m and £18m. This is a desperate situation."

The club are expected to appeal in a process that could take a year.

At the beginning of May property developer Andrew Ellis admitted that he was "optimistic" of completing a takeover of the club before the end of the month

(just took that off Goal.com)

Not sure about this, just thought id post and see peoples thoughts

 

[JP Woody]

Some fat cat Rangers supporting Tycoon will buy the club eventually. Im sure a club the size of Rangers have some very rich fans lurking around the world.

 

[Gregor]

Some fat cat Rangers supporting Tycoon will buy the club eventually. Im sure a club the size of Rangers have some very rich fans lurking around the world.

Theres not, theres been 2 contenders for the past 12ish months, Dave King (a dodgy South African under investigation in relation to tax dodging) and someone else whos names escapes me atm. Theyve not come much closer to buying the club over the past 12 months and that was before the news that they werent 30m ish in debt but possibly 80m.

Walter Smith will most likely leave if hes going to be forced to get rid of more players and not have any more money to spend, which would leave Rangers absolutely ******...so heres hoping

 

[christophermcl]

I think Andrew Ellis is the name you seek Gregor?

 

[Kris]

I hope this is all b/s. A one horsed league is the last thing Scotland needs.

 

[KA5A8IAN]

Tbh I don't believe it, what kind of insane interest is worth £12m??!! Of course I believe that we will come out of this, but don't believe we will retain the title next year.

 

[Chaz Sexington]

...Reckon they'll be docked points!?

 

[Andy]

...Reckon they'll be docked points!?

You can always dream :wub:

 

[Gregor]

Tbh I don't believe it, what kind of insane interest is worth £12m??!! Of course I believe that we will come out of this, but don't believe we will retain the title next year.

I think you could depending on what happens. If you get a new owner and get a small cash inection, say 4-5m for players Walter will stay, players linked with moves atm some of them would probs stay if Walter did etc and.... depending on what Celtic do, if we hire Lennon then not only will Lennon be our manager but it also means that we're gunan try do it on the cheap as usual

...Reckon they'll be docked points!?

not sure, whats the SPL's policy on admin? Last team I can remember was Livi who are in the SFL and of course they got put down 2 divisions

 

[Andy]

I think you could depending on what happens. If you get a new owner and get a small cash inection, say 4-5m for players Walter will stay, players linked with moves atm some of them would probs stay if Walter did etc and.... depending on what Celtic do, if we hire Lennon then not only will Lennon be our manager but it also means that we're gunan try do it on the cheap as usual



not sure, whats the SPL's policy on admin? Last team I can remember was Livi who are in the SFL and of course they got put down 2 divisions

Did Livingston not go out of business then start again? Probably mistaken.

 

[Trophy_Whorder]

rangers a big club they have a new owner soon

 

[calum1994]

No they nearly did but the chairman finally sold the club and they were put into third division

 

[Fleckster]

tbh.. for the last few weeks i havent been optimistic about the future of our club:\ but all good things have to come to an end

 

[Trophy_Whorder]

tbh.. for the last few weeks i havent been optimistic about the future of our club:\ but all good things have to come to an end

will you support celtic if worst comes to were

 

[ianhall65]

**** no never support Celtic

Martin Bain and other people have said if we do get a tax bill it will be left ath Murray international holdings (MIH) door so i don't think we have to worry much about it

 

[Druggan]

I hope this is all b/s. A one horsed league is the last thing Scotland needs.

Totally agree mate, if Rangers do a Livingston, or even a Gretna the league will be really boring and take even longer to come up to a decent/good standard as it used to be.

 

[ianhall65]

there is no way Rangers will do a gretna or livinston for one we are 1 off the biggest teams in the world and we will get a buyer or Sir David Murray will get his finger out his **** and save the club he has put in the ****

 

[Fleckster]

will you support celtic if worst comes to were

I'd never support celtic gads. tbh i think id abandon scottish football altogether apart from ayr united:L(H)

 

[coop21]

i wish some1 would buy 1 of my 2 teams Aberdeen & Liverpool lol

 

[Fleckster]

liverpool are due a takeover mate, i only wish rangers would get taken over and arsene wenger would spend some ****** money