Like always, the fans don't deserve it. But the total debt they have is ridiculous.
But I wonder how of those fans were suggesting that the books be balanced and all liabilities be settled before they invested in even more new players? As with all clubs and especially the bigger ones, they would have been demanding a bigger and better squad in order to keep up with Celtic, win the SPL and get into Europe.
In reality arent the Revenue forced to accept reduced terms or nothing just like every other creditor ? The only way I see a change coming is if HMRC refuse to allow monies owing to accrue and force football to pay its tax liabilities perhaps quarterly. In any event it seems to me that football is on a precipice now that the global financial climate is so different from what it was just five years ago. If I'm honest I won't shed many tears if any number of these cheating and unscrupulous football club owners are forced out of business and clubs that keep their house in order can flourish. A good start will be when footballers salaries are brought back into the real world.
There are different rules in Scotland affect how much HMRC can claim. The problem is that if Rangers are forced into liquidation then HMRC will most likely get even less as a forced bankruptcy/sell off might raise nowhere near their total liabilities. A negotiated settlement and a sell off would be the best for us as taxpayers.
But I accept your other point, it's time that football was forced to live within its means.
Good point BlackForestReds, but do you think they thought the club was THAT much in trouble? Thing is about Scottish football is Rangers and Celtic are in their own world. They think the whole of Scotland supports both of them so they must be untouchable financially, which compared to all the other clubs, they are.
Good point BlackForestReds, but do you think they thought the club was THAT much in trouble? Thing is about Scottish football is Rangers and Celtic are in their own world. They think the whole of Scotland supports both of them so they must be untouchable financially, which compared to all the other clubs, they are.
Sorry but I can't agree with this view. The owners of every club are well aware of the financial circumstances of their business and yet so often in football it seems they continue to act irresponsibly and with no regard for those that they cheat. That's you and me to the tune of 93 million in the case of Rangers. The country is skint and 93 million would in tabloid speak pay an awful lot of doctors nd nurses. Football needs reigning in and it can't come soon enough as far as I am concerned.
Good point BlackForestReds, but do you think they thought the club was THAT much in trouble? Thing is about Scottish football is Rangers and Celtic are in their own world. They think the whole of Scotland supports both of them so they must be untouchable financially, which compared to all the other clubs, they are.
Sorry but I can't agree with this view. The owners of every club are well aware of the financial circumstances of their business and yet so often in football it seems they continue to act irresponsibly and with no regard for those that they cheat. That's you and me to the tune of 93 million in the case of Rangers. The country is skint and 93 million would in tabloid speak pay an awful lot of doctors nd nurses. Football needs reigning in and it can't come soon enough as far as I am concerned.
I was referring to my original point about the fans, not the owners.
Good point BlackForestReds, but do you think they thought the club was THAT much in trouble? Thing is about Scottish football is Rangers and Celtic are in their own world. They think the whole of Scotland supports both of them so they must be untouchable financially, which compared to all the other clubs, they are.
Sorry but I can't agree with this view. The owners of every club are well aware of the financial circumstances of their business and yet so often in football it seems they continue to act irresponsibly and with no regard for those that they cheat. That's you and me to the tune of 93 million in the case of Rangers. The country is skint and 93 million would in tabloid speak pay an awful lot of doctors nd nurses. Football needs reigning in and it can't come soon enough as far as I am concerned.
Haha, as if this government would spend money on job creation/protection !
The 3 other bids were always on the table, Bill Miller was given preferential status as he was the only one willing to front the £500k deposit the admins required. Can't help but think if all it took to scare him off was some idiot writing something not very nice on a piece of cloth then perhaps he doesn't have the backbone to own Rangers
The 3 other bids were always on the table, Bill Miller was given preferential status as he was the only one willing to front the £500k deposit the admins required. Can't help but think if all it took to scare him off was some idiot writing something not very nice on a piece of cloth then perhaps he doesn't have the backbone to own Rangers
I thought that fee was for sole negotiating/bidding rights?
Think it will be subject to due dilligence and also the acceptance of the CVA which will depend on the agreement of the creditors.
I hope that HMRC are strict on any flexibility requested over the debt. It may take HMRC to swallow £75 million, to get the rest of football to take tax paying seriously
Can't work out what's in it for him. Not a fan, not going to make any money. Let's hope HMRC get a fair return. If they bottle it, it'll just be open season on tax avoidance in soccer.
Can't work out what's in it for him. Not a fan, not going to make any money. Let's hope HMRC get a fair return. If they bottle it, it'll just be open season on tax avoidance in soccer.FOOTBALL
Still a way to go. Green's consortium seem to have been given the preferred bidder status that Miller had last week. Miller then claims he saw the full financials and they were worse than originally thought.
Ruling on the tax case is apparently imminent, so it seems difficult to see how a CVA can be agreed whilst the cost implication of this is unknown. In the meantime, the season is over so no revenue coming in and players contracts revert (i.e. up 75%) in 18 days.
Green seems to have a certain reputation amongst Sheffield Utd fans as a hatchet man. Difficult to have an opinion on that, without knowing what went on there (I know he is blamed for over-extending, blowing their floatation monies & then selling Deane & Fjortoft on the same day) one thing's for certain, he'll have nowhere to hide in Glasgow and the goldfish bowl existence he may be working in.
I thought that fee was for sole negotiating/bidding rights?
It probably bank rolls the administrators for another few months. The only people that make money in these circumstances are the administrators.
They don't do it for love - its a profession like any other.
What happened to Farsley Celtic could easily happen elsewhere.
I don't have a problem with them making a living but the last time I looked into administrators figures they were charging £300 per hour for photocopying!
As every creditor receives a copy of all the paperwork it requires a lot of photocopying. Having one employee doing nothing but copying all week would cost £12,000 for a standard 40 hour week. I seriously doubt that there are many office juniors earning £624,000 a year, but that is the equilivent charge they were billing.
Big big big difference between what solicitors, accountants etc have as their charge out rates and what they earn p.a. !
I don't earn what my firm charges per hour of my time in an entire day's work
It's just the way the professional services industry works... all these firms have got to cover their huge overheads somehow and it's largely done in their hourly rates
Big big big difference between what solicitors, accountants etc have as their charge out rates and what they earn p.a. !
I don't earn what my firm charges per hour of my time in an entire day's work
It's just the way the professional services industry works... all these firms have got to cover their huge overheads somehow and it's largely done in their hourly rates
Comments
But I accept your other point, it's time that football was forced to live within its means.
Knoew they were in trouble but £58m another shocker
Theres still 3 other bids on the table though...
Cynical of these '3 new bids' that have come in according to the Administrators aswell.
What happened to Farsley Celtic could easily happen elsewhere.
Appears a takeover has taken place
I hope that HMRC are strict on any flexibility requested over the debt. It may take HMRC to swallow £75 million, to get the rest of football to take tax paying seriously
Well, it made me smile : - )
Ruling on the tax case is apparently imminent, so it seems difficult to see how a CVA can be agreed whilst the cost implication of this is unknown. In the meantime, the season is over so no revenue coming in and players contracts revert (i.e. up 75%) in 18 days.
Green seems to have a certain reputation amongst Sheffield Utd fans as a hatchet man. Difficult to have an opinion on that, without knowing what went on there (I know he is blamed for over-extending, blowing their floatation monies & then selling Deane & Fjortoft on the same day) one thing's for certain, he'll have nowhere to hide in Glasgow and the goldfish bowl existence he may be working in.
As every creditor receives a copy of all the paperwork it requires a lot of photocopying. Having one employee doing nothing but copying all week would cost £12,000 for a standard 40 hour week. I seriously doubt that there are many office juniors earning £624,000 a year, but that is the equilivent charge they were billing.
I think the costs are indefensible, frankly.
I don't earn what my firm charges per hour of my time in an entire day's work
It's just the way the professional services industry works... all these firms have got to cover their huge overheads somehow and it's largely done in their hourly rates