Richard Murray told his fellow directors and investors in Charlton to be prepared to lose everything. That is the reality of football.
Its actually the players who benefit most from the administration rules because the "football debts" are secured creditors and rank first in line and have to be paid off in full when clubs exit on a CVA. It is this that HMRC is so set against. HMRC used to be a secured creditor and paid out first. Now they rank with all other unsecured creditors. They are challenging the "football debts" rules that specifically apply.
I have some sympathy with fans but only to the extent that people like White are clearly (according to the SFA) unfit to run a football club and the damage he has personally caused to Rangers. I have little sympathy for the constant call of fans (including dare I say, some who post on here) who blythely call for more and more unrealistic spending of other peoples money.
This is, presumably, why a f of their younger players agreed to walk away and waive their contracts. In England the players (normally earning much, much more than they will ever see again) refuse to waive a penny of their salaries and hand around until their contract finishes.
Comments
Its actually the players who benefit most from the administration rules because the "football debts" are secured creditors and rank first in line and have to be paid off in full when clubs exit on a CVA. It is this that HMRC is so set against. HMRC used to be a secured creditor and paid out first. Now they rank with all other unsecured creditors. They are challenging the "football debts" rules that specifically apply.
I have some sympathy with fans but only to the extent that people like White are clearly (according to the SFA) unfit to run a football club and the damage he has personally caused to Rangers. I have little sympathy for the constant call of fans (including dare I say, some who post on here) who blythely call for more and more unrealistic spending of other peoples money.