And we're supposed to be the bigots?
One more and I'll report you to the mods!
I don't understand? He was described/ described himself as a "Scottish billionaire", despite it quite clearly being BS.
Also, I'm half Scottish, I can say that. (;
Rangers go into Administration.
- Thread starter Tezzz
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I don't understand? He was described/ described himself as a "Scottish billionaire", despite it quite clearly being BS.
Also, I'm half Scottish, I can say that. (;
I have confidence in this young team, hopeful for a good draw to match- if they sort out the away form (awful) a little bit then I'd say we have a great chance, not many teams will win at celtic park.
Chaz Sexington
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Before Whyte took over he looked over the finance sheets for weeks if not months, I can't imagine that he didn't have an incline this would happen.
The cynic in me says this was his plan all along which is why he hasn't invested in transfers, administration is probably a better financial option in the long term than paying HMRC and the creditors up front.
Seems like Whyte's idea is not dis similar to venture capitalists who buy struggling companies, let them go bankrupt and then begin to rebuild them. Instead of having to pay HMRC all of their money now they're in administration HMRC's outstanding payments will come 2nd essentially to players/coaches/staff/club creditors.
This may be a better way of managing Rangers finances than losing to HMRC in court and having to pay them tens of millions of pounds. Short term it will be a hard hit to take but if Whyte can find investors in the next 6-9 months and pay off the outstanding debts then Rangers will have a better balance sheet.
Sounds bizarre but this administration gives Whyte/Rangers time to fix their finances without the risk of imminent repercussions from HMRC.
That's pure speculation but I would imagine since Whyte is a businessman he may have followed something like ^ trail of thought.
Instead of him putting in 60 million pounds + of his own money into a pit of tax and creditors, he gets extra time to find other investors to put up some money and contribute to paying off the debtors which means he's not throwing anywhere near as much money into the club. Quite sound business, if you discount the Rangers fans who will probably be livid, in theory.
If HMRC pursue with a winding up order for compulsory liquidation, even in administration, and the other creditors that Rangers owe money to can't negotiate payment then that would be a big concern. Given the stature of Rangers and the public interest in the club staying afloat I imagine a CL order would probably get thrown out in court...''Probably''.
The cynic in me says this was his plan all along which is why he hasn't invested in transfers, administration is probably a better financial option in the long term than paying HMRC and the creditors up front.
Seems like Whyte's idea is not dis similar to venture capitalists who buy struggling companies, let them go bankrupt and then begin to rebuild them. Instead of having to pay HMRC all of their money now they're in administration HMRC's outstanding payments will come 2nd essentially to players/coaches/staff/club creditors.
This may be a better way of managing Rangers finances than losing to HMRC in court and having to pay them tens of millions of pounds. Short term it will be a hard hit to take but if Whyte can find investors in the next 6-9 months and pay off the outstanding debts then Rangers will have a better balance sheet.
Sounds bizarre but this administration gives Whyte/Rangers time to fix their finances without the risk of imminent repercussions from HMRC.
That's pure speculation but I would imagine since Whyte is a businessman he may have followed something like ^ trail of thought.
Instead of him putting in 60 million pounds + of his own money into a pit of tax and creditors, he gets extra time to find other investors to put up some money and contribute to paying off the debtors which means he's not throwing anywhere near as much money into the club. Quite sound business, if you discount the Rangers fans who will probably be livid, in theory.
If HMRC pursue with a winding up order for compulsory liquidation, even in administration, and the other creditors that Rangers owe money to can't negotiate payment then that would be a big concern. Given the stature of Rangers and the public interest in the club staying afloat I imagine a CL order would probably get thrown out in court...''Probably''.
You are a fool of a took.
Read the thread for goodness sake.
Chaz Sexington
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To break it down simply as to why Rangers going out of business will have serious ramifications for Celtic's finances, most football clubs generate the vast majority of their revenue from three streams: Matchday revenue, commercial revenue and broadcasting revenue.
Broadcasting is the obvious one; this is money bought it through TV deals. Currently, the Old Firm derbies are by far and away the biggest draw for TV stations when it comes to fighting for the SPL rights. No Rangers means money bought in through TV rights will certainly drop. Money to be won through cup competitions will also fall as no Rangers again means less money for TV rights.
As for revenue for European competition I cannot be certain, but with no Rangers the SPL's presence in European competition is certainly diminished, with Celtic becoming the only Scottish Club with a realistic chance of advancing to the latter stages of European competition. If, as a result of Rangers going out of business, overall progress of SPL teams in Europe is stunted, the SPL's coefficients will fall, potentially meaning that Celtic could face more qualifying rounds to get into the Champions League, thus lessening the possibility of qualifying for the Champions League proper, thus possibly resulting in a loss of European TV revenue and prize money.
Matchday revenue: Celtic v Rangers is the biggest match of the season for Celtic, so revenue is instantly lost because of lower attendances due to a lack of Old Firm. Also, courtesy of a much less competitive league attendances would be likely to fall significantly: who is seriously going to pay their hard earned money to watch Celtic spank everyone and have the title won by Christmas?
Commercial revenue: Now this is a big one. We have already looked at how Celtic games will be less likely to be shown on major TV stations, so why would shirt manufacturers and sponsors be willing to give Celtic multimillion pound deals when their brands will not even be shown to significant TV audiences as a result. We can also assume that falling attendances will result in less revenue from merchandise.
And bear in mind, this is just for Celtic. The rest of the SPL teams who don't have the same kind of fanbase as Celtic and are more reliant on TV rights revenue would probably fare far, far worse.
p.s. I'm a Celtic fan.
Broadcasting is the obvious one; this is money bought it through TV deals. Currently, the Old Firm derbies are by far and away the biggest draw for TV stations when it comes to fighting for the SPL rights. No Rangers means money bought in through TV rights will certainly drop. Money to be won through cup competitions will also fall as no Rangers again means less money for TV rights.
As for revenue for European competition I cannot be certain, but with no Rangers the SPL's presence in European competition is certainly diminished, with Celtic becoming the only Scottish Club with a realistic chance of advancing to the latter stages of European competition. If, as a result of Rangers going out of business, overall progress of SPL teams in Europe is stunted, the SPL's coefficients will fall, potentially meaning that Celtic could face more qualifying rounds to get into the Champions League, thus lessening the possibility of qualifying for the Champions League proper, thus possibly resulting in a loss of European TV revenue and prize money.
Matchday revenue: Celtic v Rangers is the biggest match of the season for Celtic, so revenue is instantly lost because of lower attendances due to a lack of Old Firm. Also, courtesy of a much less competitive league attendances would be likely to fall significantly: who is seriously going to pay their hard earned money to watch Celtic spank everyone and have the title won by Christmas?
Commercial revenue: Now this is a big one. We have already looked at how Celtic games will be less likely to be shown on major TV stations, so why would shirt manufacturers and sponsors be willing to give Celtic multimillion pound deals when their brands will not even be shown to significant TV audiences as a result. We can also assume that falling attendances will result in less revenue from merchandise.
And bear in mind, this is just for Celtic. The rest of the SPL teams who don't have the same kind of fanbase as Celtic and are more reliant on TV rights revenue would probably fare far, far worse.
p.s. I'm a Celtic fan.
I'm starting to form the opinion that they won't go into liquidation. If its anything like Italian football, then they won't. I know similar things have happened to big clubs in Italy like Fiorentina, Napoli and repeatedly Roma (who never seem to get into much trouble) and the most they're made to do is drop a division, or get point deductions, the authorities don't usually let big teams go under. I'd imagine the SFA might take the same process.
According to that journalist Tim Vickery something similar happened in Argentina recently River Plate one of the big two clubs in Argentina, got into financial trouble and were relegated and apparently Boca Juniors are doing great despite that.
According to that journalist Tim Vickery something similar happened in Argentina recently River Plate one of the big two clubs in Argentina, got into financial trouble and were relegated and apparently Boca Juniors are doing great despite that.
Words. Can't. Describe.
Apparently the SPL have negotiated a much better TV deal for the next few seasons, worth about 80 million between all 12 clubs (according to BBC scotland) and its dependent on Rangers and celtic playing. Looks like scottish football could be revived by that money hopefully, now hoping rangers don't go under- although still think its awful that they've swindled the tax paying public like that. Apparently HMRC are looking at 8 EPL clubs doing the same thing- first I've heard of it happening in England (They were a bit unspecific). So yeah guess I was wrong, always happy to admit it.
And to the above comment- theres no need to be rude mate, even if you think what I said was stupid.
And to the above comment- theres no need to be rude mate, even if you think what I said was stupid.
You guys may hate each other, but you need each other to be healthy. The other sides even more so. Good to hear a better deal is coming in though. Did it give anymore details?
Bit vague, they were just saying that it was a lot more money than their getting at the moment. My understanding was the last time they wanted better money from Sky- and Sky played hard ball and gave them a worse deal than they offered the first time. I'd imagine thats the same sort of cash the championship gets from TV rights is it?
It depends on if the 80m is per year. Championship football is on a 3 year contract totalling £264m
Yeah that was what I'm not sure about- a year or for a total of years, but its an improvement! Thats a lot of money for the championship- quite surprised by that, I can only think of a few very big teams in the championship- Leeds, West Ham and i guess success wise Forest.
Chaz Sexington
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Just saw that Mandaric is considering buying Rangers.
Thought he said he had no interest?
I don't think what you said is stupid. It is stupid. You were comparing two completely different situations, and you have no clue about one of them - not to mention you're looking at the other one with Celtic tinted specs.
juventus1980
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Having read this thread through- You come across as a bit of a ***** and a bit of a know it all- just saying
Im sure you know everything about Argentinian football, and so can make a comment on someone else's knowledge...hmmmm- NO
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