Rangers To Enter Administration, Portsmouth Following Suit... .

[Deserted]

I can't believe that a club the size of Rangers could go under, owing 49 million. What future for Scottish football now?

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966

[smokie36]

They won't go under...but they might lose more than a few league points.

[theblether]

Under normal circumstances this administration would be relatively straightforward, however the presence of Craig Whyte with his 7 year Director ban could cause a problem....why?

HMRC are using Rangers as a test case for the EBT, ( Employees Benefit Trust ) I will go with the assumption that everyone knows all about that.

HMRC are the primary creditor in the country, they are getting seriously irritated by football clubs folding, paying the football debt, leaving them out, then emerging from administration.

There is a serious risk that due to the amount of money involved ( £49 million, the highest in British football history by far ) that HMRC will have a go at Rangers again by using them as a test case to over-turn the "football debt first" philosophy that has been the norm till now.

If they win that case, then it's all over..........between the floating debt owed to Craig Whyte ( £18 million ) and the £49 million potential to the HMRC there would not be enough asset value in the club to repay the debts, so liquidation would follow.

This is not BS, this is the reality of the day...........the future of Rangers does not depend on the £49 million tribunal......it depends on the HMRC deciding it is in the public interest to take Rangers to a test case.

In my opinion, due to the amount of money potentially involved......HMRC will go all the way to a test case.

Especially in light of the character of the character who is in charge of the club.

[smokie36]

Is Ibrox gonna become an Asda store?

[MrRed]

Department of Social Security.

[mrbojangles]

Is Ibrox gonna become an Asda store?

Could well be but in all seriousness, how boring would Scottish football become then? Just one team winning every year.

[CelticBhoy]

Is Ibrox gonna become an Asda store?

Could well be but in all seriousness, how boring would Scottish football become then? Just one team winning every year.

Not boring in the slightest, as far as I'm concerned!!

[Totster]

I've always thought Rangers and Celtic should play in the EPL, it would be a better match and give the other Scottish clubs a chance in the SPL

totster

[mrbojangles]

I've always thought Rangers and Celtic should play in the EPL, it would be a better match and give the other Scottish clubs a chance in the SPL

totster

Is that a wind up Tots

[mrbojangles]

Is Ibrox gonna become an Asda store?

Could well be but in all seriousness, how boring would Scottish football become then? Just one team winning every year.

Not boring in the slightest, as far as I'm concerned!!

Are you honestly saying you hope they disappear. What would there be left for you to look forward to? Also, unless you start to play teams that are more challenging, how do you expect to improve as a team in Europe.

P.S. I wouldn't want Man U to go into liquidation. I would want their demise to last a lot longer than that.

[SweatySock]

This is a very sad day for Rangers and Scottish Football. I believe there will be more clubs following suit if Rangers do go under.

[CelticBhoy]

^ I don't see anything sad in this at all. They cheated, they have got caught and now it's time to face the penalty.

[Deserted]

It's sad for Scottish football if Rangers can't compete with Celtic.

[theblether]

Is Ibrox gonna become an Asda store?

Could well be but in all seriousness, how boring would Scottish football become then? Just one team winning every year.

If Rangers fold then Celtic will lose about 35% of their income stream overnight. Every Celtic fan reading this knows, ( by the way I'm a Motherwell fan ) that this is true.

Why? Approx a third of season ticket holders at Celtic Park are from outside Scotland, and in particular Ireland. These season ticket holders tend to appear for the big games, the games that decide the league obviously, and most certainly the Old Firm games.

The rest of the season, particularly recently due to the economic climate, they stay away. You will often see reports of large attendances at Celtic Park but the actual turnout is small, due to the season tickets being counted as having attended.

You can guarantee that a lot ( not all ) of these ex-pat type and Irish season ticket holders will abandon the club if Rangers go down. On top of that the current TV deal is dependent on both Rangers and Celtic being part of the league. The deal will be pulled and renegotiated if Rangers fold.

Celtic have contracts in place with their players and are relying upon realistic cash flow figures, if the figures don't come then Celtic will have to sell their best stars, and replace them with guys on contracts commensurate with the new cash flow figures.

Now this will have two effects on Scottish football, the drop in income will be most painfully felt at Celtic Park, but it will knock clubs like Hearts ( especially ) Aberdeen and Kilmarnock closer to administration too.

Other clubs such as Motherwell ( in particular ) and St Mirren will probably end up being net beneficiaries of Rangers folding. Motherwell have a strong second team allegiance from Rangers supporters and many Rangers fans will not abandon Scottish football. If you see Cup Final support for teams like Motherwell, the support is always swelled by Rangers fans. Celtic fans reading this know it's true.

So what you are likely to find is a serious downgrading of Celtic, while certain other teams at least stay neutral or possibly get a bit stronger. The idea that Scottish football will become a procession is wrong.

[mrbojangles]

Good post TheBlether and a realistic view that Celtic fans should take.

[Rinrada]

According to local news it seems that the debt could be as high as 80 million quid but looks like HMRC are talking at a settlement of @ 49 M.

Maybe some rich Thai som tam seller could put in an offer..otherwise rather looks like the demise of the Gers.MKJai

[mrbojangles]

Maybe some rich Thai som tam seller could put in an offer..otherwise rather looks like the demise of the Gers.MKJai

Well the last guy got them for a quid, so there's hope!!

[Deserted]

Apparently, they are spending 10 million a year more than what is coming in, which is the source of the problem.

[salty]

Rangers are now in administration and an administrator has been appointed. They will now suffer a 10 point deduction almost certainly ensuring Celtic will win this seasons SPL.

[CelticBhoy]

Will Rangers get to play this weekend? Looks like their Masonic mates are not going to turn up for the game!

Strathclyde Police were Rangers first creditor to ask for a payment guarantee from Rangers’ newly appointed administrator, saying, “Strathclyde Police is a public body and has a duty to make sure public resources are used appropriately. We are seeking an urgent meeting with the administrators to ensure that any payment for policing costs at future Rangers games is guaranteed.

“Until we have such a guarantee we would not be in a position to commit public resources to policing an event unless we had a reassurance that our costs would be met.”

[ronniec]

Is Ibrox gonna become an Asda store?

Could well be but in all seriousness, how boring would Scottish football become then? Just one team winning every year.

If Rangers fold then Celtic will lose about 35% of their income stream overnight. Every Celtic fan reading this knows, ( by the way I'm a Motherwell fan ) that this is true.

Why? Approx a third of season ticket holders at Celtic Park are from outside Scotland, and in particular Ireland. These season ticket holders tend to appear for the big games, the games that decide the league obviously, and most certainly the Old Firm games.

The rest of the season, particularly recently due to the economic climate, they stay away. You will often see reports of large attendances at Celtic Park but the actual turnout is small, due to the season tickets being counted as having attended.

You can guarantee that a lot ( not all ) of these ex-pat type and Irish season ticket holders will abandon the club if Rangers go down. On top of that the current TV deal is dependent on both Rangers and Celtic being part of the league. The deal will be pulled and renegotiated if Rangers fold.

Celtic have contracts in place with their players and are relying upon realistic cash flow figures, if the figures don't come then Celtic will have to sell their best stars, and replace them with guys on contracts commensurate with the new cash flow figures.

Now this will have two effects on Scottish football, the drop in income will be most painfully felt at Celtic Park, but it will knock clubs like Hearts ( especially ) Aberdeen and Kilmarnock closer to administration too.

Other clubs such as Motherwell ( in particular ) and St Mirren will probably end up being net beneficiaries of Rangers folding. Motherwell have a strong second team allegiance from Rangers supporters and many Rangers fans will not abandon Scottish football. If you see Cup Final support for teams like Motherwell, the support is always swelled by Rangers fans. Celtic fans reading this know it's true.

So what you are likely to find is a serious downgrading of Celtic, while certain other teams at least stay neutral or possibly get a bit stronger. The idea that Scottish football will become a procession is wrong.

.

it's now official the gers will be deducted 10 points giving celtic the league,and after yesterdays comments from parkhead that they do not need rangers to go forward,the only thing that can happen if we go down is that celtic will finally fill there trophy cabinet but not make any money doing it,and spl will disintegrate into a 3rd tier comp.very sad day long live the "GERS" NO SURRENDER

[ronniec]

Will Rangers get to play this weekend? Looks like their Masonic mates are not going to turn up for the game!

Strathclyde Police were Rangers first creditor to ask for a payment guarantee from Rangers’ newly appointed administrator, saying, “Strathclyde Police is a public body and has a duty to make sure public resources are used appropriately. We are seeking an urgent meeting with the administrators to ensure that any payment for policing costs at future Rangers games is guaranteed.

“Until we have such a guarantee we would not be in a position to commit public resources to policing an event unless we had a reassurance that our costs would be met.”

.

what a stupid comment "rangers masonic mates" your obvisously still in the dark ages mate

[CelticBhoy]

^ You went out the same week as Whitney, but at least she didn't go down the plug-hole!

[Ahinkel1]

Will Rangers get to play this weekend? Looks like their Masonic mates are not going to turn up for the game!

Strathclyde Police were Rangers first creditor to ask for a payment guarantee from Rangers’ newly appointed administrator, saying, “Strathclyde Police is a public body and has a duty to make sure public resources are used appropriately. We are seeking an urgent meeting with the administrators to ensure that any payment for policing costs at future Rangers games is guaranteed.

“Until we have such a guarantee we would not be in a position to commit public resources to policing an event unless we had a reassurance that our costs would be met.”

.

what a stupid comment "rangers masonic mates" your obvisously still in the dark ages mate

99% of strathclyde police are huns anyway. So theyll probably come out for free.

Pay your taxes ya bams. Youve got a front calling us pikeys. Lights out x

[theblether]

I'm a Motherwell fan.......

Any Celtic fan celebrating this is a nutter..........why?

The TV deal will be cancelled, so that money is down the plughole and will be replaced with a deal worth pennies by comparison........

The Irish support will abandon their season tickets, if not this season coming up then within a couple of seasons......

Many Scottish supporters will abandon their season tickets too........

Match day sponsorship and corporate hospitality will disappear rapidly........

Merchandise sales will crash.......

Peter Lawell will have to fund all his contractual obligations to players and suppliers from a badly reduced income pool.......

The squad will be sold off to cover the obligations.......

They will be replaced with guys on £5 grand a week.........

You will never qualify for the Champions League with those guys.......

The UEFA co-efficient will go down the swanee........

Qualifying for the Europa league will be seen as a success.........

The only victory you Celtic fans have here is watching Rangers stand in front of the firing squad first.........your next.

If Rangers go down it will be one shot to the head.........Celtic are literally going to die a death of a thousand cuts.

So you Celtic boys better start praying Rangers are saved.

[Abrak]

Some great posts Blether keep them coming....

Very informative....

[Ahinkel1]

I'm a Motherwell fan.......

Any Celtic fan celebrating this is a nutter..........why?

The TV deal will be cancelled, so that money is down the plughole and will be replaced with a deal worth pennies by comparison........

The Irish support will abandon their season tickets, if not this season coming up then within a couple of seasons......

Many Scottish supporters will abandon their season tickets too........

Match day sponsorship and corporate hospitality will disappear rapidly........

Merchandise sales will crash.......

Peter Lawell will have to fund all his contractual obligations to players and suppliers from a badly reduced income pool.......

The squad will be sold off to cover the obligations.......

They will be replaced with guys on £5 grand a week.........

You will never qualify for the Champions League with those guys.......

The UEFA co-efficient will go down the swanee........

Qualifying for the Europa league will be seen as a success.........

The only victory you Celtic fans have here is watching Rangers stand in front of the firing squad first.........your next.

If Rangers go down it will be one shot to the head.........Celtic are literally going to die a death of a thousand cuts.

So you Celtic boys better start praying Rangers are saved.

In an ideal world maybe, but the west of scotland and the hatred between these clubs is not an ideal place or world . As much as the economics you are spouting are about right. That still aint gonny have celtic fans praying rangers are saved.

Right or wrong, thats the way it is and the way it always will be.

[Abrak]

Some great posts Blether keep them coming....

Very informative....

I guess some people will always want a bigger slice of the pie until the pie isnt worth eating

[StevieH]

was genuinely gobsmacked by this, that a club the size of rangers with the following it has could be allowed to get into this state. sad really.

[Abrak]

was genuinely gobsmacked by this, that a club the size of rangers with the following it has could be allowed to get into this state. sad really.

There but goes a few things and that was Liverpool....