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Originally posted by Stevie Wonder Boy -
From Alex Thomson's blog.
Either Rangers’ administrators Duff & Phelps have extraordinary chutzpah or they are men in the final stages of desperation.
Announcing the US trucking magnate Bill Miller as the bloke-most-likely to buy Rangers FC, they refused to take questions at what was absurdly described as a press conference.
Nor did they mention at any stage in this, the three really key things which have to be mentioned in connection with owning this club.
Not one mention of assured creditor Craig Whyte who, he tells me, wants, £30m. No mention either for the ticket company Ticketus who may require around £27m.
And the small matter of HMRC the taxman, who could end up due around £75m if the club loses a major tax hearing due any day now.
So Rangers fans – rightly – will need a lot of convincing on all of this.
Other fans will be outraged. Because what they’re attempting to pull off here is a huge tax avoidance and debt avoidance plan from the club already notorious for both.
It boils to this. D&P say: “Mr Miller’s proposal involves the use of a specially created newco (new company) in addition to the retention of the Rangers Football Club plc. The business and assets he proposes to purchase will be sheltered in a newco and returned to the plc once the plc has been ‘cleaned up’.”
Yeah – well they may use inverted comas for ‘cleaned up’. What does it mean? Who by? When? Who pays all these vast debts the plc could owe? What will Whyte, Ticketus and HMRC (taxman) say?
None of it answered.
Would you buy into any of this?
Non Rangers fans sense a massive sell out in which the plc will end up liquidated, the taxpayer shafted, RFC in the Premier League with few big punishments and any kind of sporting morality out the window.
Unlike other clubs who paid their tax, balanced their books – and got relegated.
That said, even Rangers look like being banned from Europe for a long time – several seasons. Many players will thus soon leave. They are banned (pending appeal) from buying new players for a season. Penalties for sure, but if they do manage to pull this off, nothing like the penalties many feel should be imposed.Comment
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This will be the same daily record as which wrote this last yearOriginally posted by SimonMac View Post
Craig Whyte started playing the stock market at the age of 15. By the time he left school he had more than £20,000 in his bank account.
Today, aged just 39, this financial whizzkid from Motherwell stands on the brink of pulling off the biggest deal of his life - and finally bringing the curtain down on one of the longest-running sagas in Scottish football.
Record Sport understands self-made billionaire Whyte has entered into the final stages of negotiations to buy control of the club he loves from Sir David Murray.Comment
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That would be the same oneOriginally posted by minestrone View PostOriginally posted by Stevie Wonder BoyComment
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BBC Sport - Bill Miller withdraws bid for Rangers
"By late Monday night, it became clear to me that preliminary information, discussions and analysis were, unfortunately, more optimistic than reality."
merely at clientco for the entertainmentComment
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CraigWhyteCSC
“The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”Comment
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Detailed talks aimed at saving Rangers FC have now reached an advanced stage......
“The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”Comment
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I said I buy one, you get on free, I said I buy one..
BBC Sport - Rangers: Charles Green agrees takeover deal for clubComment
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The idiot does not have clue what tulip storm is is about to hit himComment
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Does this mean there is a large surplus of Jelly and Ice Cream that needs to be sold as the party is cancelled
Originally posted by Stevie Wonder BoyComment
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