Rangers Liquidation

[User6179]

Serious question - after all the well-documented problems at the old Rangers which have continued on with the new club with over-spending, why is the solution thought to be "More money", "More spending", "More investment"? Every other club in Scotland has been cutting back (including the green bigots), why does one club seem to want to do the polar opposite?

What over spending , not on players anyway as the budget is less than 30% of the turnover which is probably better than every other team in Scotland if not the UK .

The only reason Rangers has money trouble is mostly because of the Retail deal with sports direct where for every £10 spent the club receives 75 pence , the club currently have loans of 6.5 million in total( season ticket money due shortly) , if they had not been asset stripped there would not be a problem , nothing to do with over spending on the team.
And for record and which most folk seem to think despite facts to the opposite Rangers had no great bank debt when Whyte took over .

 

[User6179]

I know nothing about Rangers but I do know quite a lot about AIM, Nomads and other trading platforms. It is a standard route in the event of delisting from AIM due to failure to secure a Nomad to relist on ISDX. ISDX has almost zero liquidity. Quite a lot of companies have delisted off IDSX recently as ICAP (who own and run the exchange) decided to tighten up the rules. This probably tells you all you need to know about the quality of some companies attracted to ISDX. So raising money from investors on there will be a big challenge. Having said that, Arsenal are listed on ISDX (and are by far the biggest company listed there). You don't need a Nomad on ISDX, just a "Financial Adviser". There are some reputable ones and some not so reputable.

IMHO, failing to secure a Nomad on AIM and relisting on ISDX is one step down the capital market gurgler. Only happens to companies who have serious issues

I don't think any Institutional investors would touch Rangers with a barge pole now anyway so being delisted probably will not effect any future investment as it will be the Directors and fans who put the money in when the time comes , the original Institutional Investors must be spewing just now but cant say I feel sorry for them as most of that money has vanished from the club possibly back into some of their pockets!?

 

[Joey Shabadoo]

And for record and which most folk seem to think despite facts to the opposite Rangers had no great bank debt when Whyte took over .

That is what is commonly known as a lie.

During the 1990s and 2000s, Rangers regularly posted financial losses. By 2009, Rangers owed between £25 million and £30 million to the Lloyds Banking Group.[1] Team manager Walter Smith claimed in October 2009 that Lloyds were effectively running the club.[1]Although the amount due to Lloyds was reduced to £18 million by April 2011,[2] Rangers were in dispute with Her Majesty's Revenue and Customs (HMRC) regarding the use of an employee benefit trust fund (EBT) between 2001 and 2010.[3][4][5] A bill potentially running up to £49 million, including interest and penalties, was assessed in 2010. Rangers argued that their EBT scheme was a legal method of tax avoidance. The scale of the potential liability led chairman Alistair Johnston to admit in 2011 that the club could go out of business.[2]

On 6 May 2011, it was confirmed that David Murray had sold his controlling interest in the club (85.3 percent) to Wavetower Limited, ultimately owned by Craig Whyte, for £1.[6] Whyte pledged to pay off the bank debt and invest money in the squad and stadium.

 

[User6179]

That is what is commonly known as a lie.

Whyte paid of the bank debt which was £22 million , they excepted £18 million , they had no great bank debt when they were liquidated! , they had a possible large tax bill which has been ruled on 2 or 3 times in Rangers favour , which part of that is a lie ?

I keep reading Rangers went bust because of over spending which is not the case , they went bust because the bank withdrew a credit line because of the potential tax bill which Rangers eventually won , How many clubs in Scotland would survive without a credit line ?, not many if any as they all borrow money to some extent .

 

[Joey Shabadoo]

That'smoving the goalposts a bit.

You said they had no bank debt when Whyte took over then switched to they had no bank debt when they were liquidated after Whyte.

And you can't blame burning through an estimated £30m over the last three years on the big bad man selling cheap polyester shellsuits to morons.

 

[User6179]

That'smoving the goalposts a bit.

You said they had no bank debt when Whyte took over then switched to they had no bank debt when they were liquidated after Whyte.

And you can't blame burning through an estimated £30m over the last three years on the big bad man selling cheap polyester shellsuits to morons.

It still a fact that Rangers had no bank debt and only owed HM Revenue & Customs £14,372,042 and is still a fact that over spending was not the cause of Liquidation.

And where do you get £30m from , we are going through that a year , will be closer to £100m over 3 years with only about £20m on players wages.

You wear a polyester shellsuit ? Classy guy

 

[Joey Shabadoo]

only about £20m on players wages.

In the lower leagues of Scottish football Against plumbers and postmen.

But no, you're right, Rangers don't overspend. No sirree Bob.

 

[Joey Shabadoo]

What next Eddy - the bullet in the post or the brick through the window? Some people just live the stereotype of the blue bigot fan base.

 

[User6179]

What next Eddy - the bullet in the post or the brick through the window? Some people just live the stereotype of the blue bigot fan base.

Maybe if you stop posting nasty comments then I will stop posting The Jury Team clips , is that a fair deal ?
You have to lower your posts with a some kind of snide remark , go on a football forum , you will find like minded folk who will give you the attention you seem to crave !

 

[Joey Shabadoo]

Aw diddums. Did the bad man say nasty things about a football team? Aw gee. Definitely justifies stalking another poster, finding out personal information, searching youtube and posting videos on a cycling forum doesn't it?

Who's the obsessed one again?

 

[User6179]

There you go , I deleted the clip , stop being a dick and I wont put it back up and for the record as far as I know you are the only person on this thread who had to delete their own post because it was so offensive , nothing to do with football , you just seem to have a hatred you want to vent .

 

[Joey Shabadoo]

Your team is a joke, the laughing stock of football. Decades of triumphalism meant that when they died the majority of decent, non-bigoted, non-sectarian Scottish fans cheered. Since they died, we've all had great fun watching them lurch from calamity to disaster, from one crook to the next, all made even more enjoyable when their more deluded supporters can't see what's going on in front of their faces. This thread is testament to that. You've lied, evaded, whatabouted at every turn, culminating in the freaky, weird stalker behaviour that's seen the mods step in repeatedly.

You want me to stop taking the mick out of your pathetic team?

 

[User6179]

Go away and annoy someone else ya nutter , stalker? , my god I think if anyone has to be worried its me from you ya maniac , get a life , its only a football team , its when you call people vermin, morons, scum and make stories up about being urinated on and uploading an offensive picture of The memorial statue of the Rangers disaster is what bothers me , one wonders if your playing with a full deck .

 

[Joey Shabadoo]

If you don't like it, don't read it and don't react to it.

I can assure you, I'll be pointing and laughing at the blue bigots every step of the way.

 

[User6179]

If you don't like it, don't read it and don't react to it.

I can assure you, I'll be pointing and laughing at the blue bigots every step of the way.

Like I said I don't have a problem with that but I fear you have fell into the trap of hating the perceived hater and it has clouded your judgement on what is acceptable, all your doing is stirring a pot of bile , noising people up , if that is your intention then carry on , Social media is full of it , guys like Philmac feeding off the hate.