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ET, the Extra Terrestrial wrote:Lin's another Tebow-esque god-squadder. Just what I needed.
Roy Hunter wrote:Glasgow Rangers FC start proceedings to go into administration.
The BBC wrote:The revenue could stand to lose out on any tax due if Mr Whyte chooses to collapse the company.
Mr Whyte is understood to be the club's main secured creditor via a floating charge over its assets.
This would allow him to pursue other avenues such as receivership or pre-pack administration to satisfy the debts which the club owes him.
These would involve transferring Rangers assets out to another company or companies to satisfy outstanding debts to the floating charge holder and leaving the club behind with the debt.
In such scenarios, it would be likely that Rangers FC - formed in 1873 - would be formally wound up.
It's not the Court of Session that they're playing chicken with, it's Revenue and Customs. They've put a few clubs into receivership already in the last few years, and as well as severely denting their credit-worthiness and their ability to hang onto players, it loses them ten points straight away. That means Rangers conceding the league championship to Celtic right now. This does not sit well with the creditors, the taxman, the shareholders or the fans.PKMKII wrote:I wonder if the Rangers back office is being serious, or just playing a game of chicken with the tribunal.
Roy Hunter wrote:We've got no money, so we've got no troubles...
ET, the Extra Terrestrial wrote:Roy Hunter wrote:We've got no money, so we've got no troubles...
Hear, hear. (Or, to quote Everystinkingmoronintheworldwhotriestosaythatonfailbook: "Here, here".)
DavidH wrote:Where will the Weegies have their fights now?
We've already started a hate campaign against Kilmarnock FC:daftbeaker wrote:DavidH wrote:Where will the Weegies have their fights now?
Oh come on now - that's not true!daftbeaker wrote:Edit - An excellent in-depth analysis of Rangers' priorities
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