Rangers appointing an Administrator.

[eek]

But if they managed to get within 10 points, Celtic fans will never hear the end of "we'd have won it but the establishment robbed us...."

True but I think it may be irrelevant. What we don't know is why Rangers have gone into administration is it because HMRC have won their £49m court battle or is it just due to the incompetence of Ranger's current cowboy owner?

If its the latter and the former has still to be decided then I don't think Rangers is long for this world.

[AtW]

"The Ibrox club are awaiting the verdict of a tax tribunal which could cost club around £49 million.

The HMRC case centres around the use of employee benefits trusts (EBTs) which were in place before Craig Whyte took over from Sir David Murray last May. "

Rangers announce plans to go into administration - Telegraph

[SimonMac]

True but I think it may be irrelevant. What we don't know is why Rangers have gone into administration is it because HMRC have won their £49m court battle or is it just due to the incompetence of Ranger's current cowboy owner?

If its the latter and the former has still to be decided then I don't think Rangers is long for this world.

They haven't lost the case, yet, but it looks like they are preparing for the worst

[AtW]

To which your reply should have been 'Get a job you bum'.

[Cliphead]

BBC Scotland's business and economy editor, Douglas Fraser, said the legal moves on Monday surrounding administration would give the club "a few days for negotiations with HM Revenue and Customs (HMRC)".

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.

[Doggy Styles]

BBC Scotland's business and economy editor, Douglas Fraser, said the legal moves on Monday surrounding administration would give the club "a few days for negotiations with HM Revenue and Customs (HMRC)".

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.

And restart immediately as Rangers 2012 FC.

Can they still do that?

[Cliphead]

And restart immediately as Rangers 2012 FC.

Can they still do that?

Without any assets and a huge debt to HMRC? Unlikely they could carry on as they are.

[eek]

Without any assets and a huge debt to HMRC? Unlikely they could carry on as they are.

+1 HMRC really don't like football clubs and are now being awkward even with non-league clubs. The idea of Rangers owing £50m and being allowed to reform is definitely not on option.

Mind you I expect Mr Salmond will make it a major topic to attack the english on.

[SimonMac]

And restart immediately as Rangers 2012 FC.

Can they still do that?

Yes they can do that, but they would lose their place in the Football League and have to start again

[Bunk]

Yes they can do that, but they would lose their place in the Football League and have to start again

Someone could buy out another club and rename them Rangers United or something, like happened with Airdrie United.