McFaul 35 Posted February 17, 2012 Share Posted February 17, 2012 Looks like Mandaric is going to attempt to buy Rangers. You know a club is wrecked when that fucka goes sniffing. Link to comment Share on other sites More sharing options...
ewerk 30611 Posted February 17, 2012 Share Posted February 17, 2012 Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. Link to comment Share on other sites More sharing options...
Toonpack 9409 Posted February 17, 2012 Share Posted February 17, 2012 Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. It was paid to one of Whyte's companies evidently Link to comment Share on other sites More sharing options...
McFaul 35 Posted February 17, 2012 Share Posted February 17, 2012 Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. How can you not find £24m! It's not like it could just fall down the settee. I don't know the full details from the time Craig Whyte bought the club, but surely his due dligence should've shown him that administration was an inevitability. Link to comment Share on other sites More sharing options...
Gene_Clark 12 Posted February 17, 2012 Share Posted February 17, 2012 Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. It was paid to one of Whyte's companies evidently This must be fraud on a massive scale...... Link to comment Share on other sites More sharing options...
McFaul 35 Posted February 17, 2012 Share Posted February 17, 2012 Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. It was paid to one of Whyte's companies evidently This must be fraud on a massive scale...... Aye but how would he think that nobody would find out. £24m doesn't just go missing. Link to comment Share on other sites More sharing options...
ewerk 30611 Posted February 17, 2012 Share Posted February 17, 2012 I read an interview with him a few weeks ago and he claimed that the £24m loan was underwritten by one of his other companies. It could be that he was trying to get the money in for another part of his business then have Rangers pay off the loan for him. Link to comment Share on other sites More sharing options...
Gene_Clark 12 Posted February 17, 2012 Share Posted February 17, 2012 I read an interview with him a few weeks ago and he claimed that the £24m loan was underwritten by one of his other companies. It could be that he was trying to get the money in for another part of his business then have Rangers pay off the loan for him. Which is, of course, illegal..... Link to comment Share on other sites More sharing options...
ewerk 30611 Posted February 17, 2012 Share Posted February 17, 2012 Is it? Is he 100% owner of Rangers? If so and he informed Ticketus of the purpose of the loan then I don't see what he has done illegally. It makes him a cunt, of course, but not a criminal. Link to comment Share on other sites More sharing options...
Gene_Clark 12 Posted February 17, 2012 Share Posted February 17, 2012 Is it? Is he 100% owner of Rangers? If so and he informed Ticketus of the purpose of the loan then I don't see what he has done illegally. It makes him a cunt, of course, but not a criminal. It's revealing it though isn't it? I doubt, on his previous form, that he's been totally up front about it. I'm not saying the practice isn't a common one either. Link to comment Share on other sites More sharing options...
toon_don 0 Posted February 17, 2012 Share Posted February 17, 2012 (edited) Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. How can you not find £24m! It's not like it could just fall down the settee. I don't know the full details from the time Craig Whyte bought the club, but surely his due dligence should've shown him that administration was an inevitability. I think he planned for all of this to be honest. My understanding of it is he bought the club for £1, paid of it's original debts with other loans mortgaged against future season ticket sales, and if the administrators can sort out a CVA before the tax case comes to fruition, he'll be the main secured creditor of the club. He'll probably walk away with Ibrox and the training ground in exchange for the money he's owed, leaving him free to lease/sell them back to whatever form of Rangers FC exists in the future. A bit like the Glazers at Man Utd, he's essentially purchased the club with its own money. Of course, if this isn't some grand master plan, then the worst case scenario is he's lost a single pound. Edited February 17, 2012 by toon_don Link to comment Share on other sites More sharing options...
Gene_Clark 12 Posted February 17, 2012 Share Posted February 17, 2012 Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. How can you not find £24m! It's not like it could just fall down the settee. I don't know the full details from the time Craig Whyte bought the club, but surely his due dligence should've shown him that administration was an inevitability. I think he planned for all of this to be honest. My understanding of it is he bought the club for £1, paid of it's original debts with other loans mortgaged against future season ticket sales, and if the administrators can sort out a CVA before the tax case comes to fruition, he'll be the main secured creditor of the club. He'll probably walk away with Ibrox and the training ground in exchange for the money he's owed, leaving him free to lease/sell them back to whatever form of Rangers FC exists in the future. A bit like the Glazers at Man Utd, he's essentially purchased the club with its own money. Of course, if this isn't some grand master plan, then the worst case scenario is he's lost a single pound. I dropped a quid on Wednesday when doing the shopping in Sainsburys; cunt rolled under one of the shelving units. Still furious about it.... Link to comment Share on other sites More sharing options...
McFaul 35 Posted February 17, 2012 Share Posted February 17, 2012 Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. How can you not find £24m! It's not like it could just fall down the settee. I don't know the full details from the time Craig Whyte bought the club, but surely his due dligence should've shown him that administration was an inevitability. I think he planned for all of this to be honest. My understanding of it is he bought the club for £1, paid of it's original debts with other loans mortgaged against future season ticket sales, and if the administrators can sort out a CVA before the tax case comes to fruition, he'll be the main secured creditor of the club. He'll probably walk away with Ibrox and the training ground in exchange for the money he's owed, leaving him free to lease/sell them back to whatever form of Rangers FC exists in the future. A bit like the Glazers at Man Utd, he's essentially purchased the club with its own money. Of course, if this isn't some grand master plan, then the worst case scenario is he's lost a single pound. You've explained that really well. Quite clearly he's no knight in shining armour for them then as some Rangers fans put across. Link to comment Share on other sites More sharing options...
Gene_Clark 12 Posted February 17, 2012 Share Posted February 17, 2012 One intriguing possibility for the Huns would be if Sinn Fein used the money from that mega Northern Bank heist in Belfast a few years ago to buy the club; that way Rangers could start again with a more inclusive ethos & cross community support. Think the songbook might need a rewrite mind..... Link to comment Share on other sites More sharing options...
Toonpack 9409 Posted February 17, 2012 Share Posted February 17, 2012 (edited) Apparently the administrators can't find the £24m loan that was taken out based on their ST sales. How can you not find £24m! It's not like it could just fall down the settee. I don't know the full details from the time Craig Whyte bought the club, but surely his due dligence should've shown him that administration was an inevitability. I think he planned for all of this to be honest. My understanding of it is he bought the club for £1, paid of it's original debts with other loans mortgaged against future season ticket sales, and if the administrators can sort out a CVA before the tax case comes to fruition, he'll be the main secured creditor of the club. He'll probably walk away with Ibrox and the training ground in exchange for the money he's owed, leaving him free to lease/sell them back to whatever form of Rangers FC exists in the future. A bit like the Glazers at Man Utd, he's essentially purchased the club with its own money. Of course, if this isn't some grand master plan, then the worst case scenario is he's lost a single pound. Read yesterday that problem with the "tax case" is that it is already an existing debt and must be "on the books". HMRC reckoned Rangers (and other clubs) were being dodgy with the way they paid players and have hit them with a bill for the £40-odd million, the case is about Rangers disputing the bill and not HMRC trying to get the right to levy the charge. It's already levied, Rangers have to win their appeal. The case could take the debt away, but until the case is heard that debt is a "real" one, I believe (if what I saw yesterday is correct). Rangers are HMRC's high profile "test case", if Rangers lose the appeal, expect some rather thick brown envelopes to be hitting some other club's doormats very soon thereafter. Edited February 17, 2012 by Toonpack Link to comment Share on other sites More sharing options...
ewerk 30611 Posted February 17, 2012 Share Posted February 17, 2012 HMRC are pissed off that footballing debts are considered secured debts while tax debts aren't. Because of this they've got a real hardon for football clubs and will try to screw Rangers for every penny they have. Link to comment Share on other sites More sharing options...
Toonpack 9409 Posted February 17, 2012 Share Posted February 17, 2012 HMRC are pissed off that footballing debts are considered secured debts while tax debts aren't. Because of this they've got a real hardon for football clubs and will try to screw Rangers for every penny they have. Agreed, Rangers for starters and not before time. Link to comment Share on other sites More sharing options...
McFaul 35 Posted February 17, 2012 Share Posted February 17, 2012 What's David Cameron doing say he wants Rangers to go on and on for? I don't recall him saying the same things about Darlington, or other prime ministers saying similar things about Leeds United or Leicester in the past. Link to comment Share on other sites More sharing options...
toon_don 0 Posted February 17, 2012 Share Posted February 17, 2012 Read yesterday that problem with the "tax case" is that it is already an existing debt and must be "on the books". HMRC reckoned Rangers (and other clubs) were being dodgy with the way they paid players and have hit them with a bill for the £40-odd million, the case is about Rangers disputing the bill and not HMRC trying to get the right to levy the charge. It's already levied, Rangers have to win their appeal. The case could take the debt away, but until the case is heard that debt is a "real" one, I believe (if what I saw yesterday is correct). Rangers are HMRC's high profile "test case", if Rangers lose the appeal, expect some rather thick brown envelopes to be hitting some other club's doormats very soon thereafter. Ahh fair enough, if that's the case that does change it. Although if Rangers are disputing the figure and manage to get it down to less than 25% of the total debt, then that could all still happen could it not? Either way, Whyte is a crook. Link to comment Share on other sites More sharing options...
Toonpack 9409 Posted February 17, 2012 Share Posted February 17, 2012 What's David Cameron doing say he wants Rangers to go on and on for? I don't recall him saying the same things about Darlington, or other prime ministers saying similar things about Leeds United or Leicester in the past. Preservation of the Union, Rangers are the bastion of unionism, wouldn't do to piss them votes off. Link to comment Share on other sites More sharing options...
Toonpack 9409 Posted February 17, 2012 Share Posted February 17, 2012 Read yesterday that problem with the "tax case" is that it is already an existing debt and must be "on the books". HMRC reckoned Rangers (and other clubs) were being dodgy with the way they paid players and have hit them with a bill for the £40-odd million, the case is about Rangers disputing the bill and not HMRC trying to get the right to levy the charge. It's already levied, Rangers have to win their appeal. The case could take the debt away, but until the case is heard that debt is a "real" one, I believe (if what I saw yesterday is correct). Rangers are HMRC's high profile "test case", if Rangers lose the appeal, expect some rather thick brown envelopes to be hitting some other club's doormats very soon thereafter. Ahh fair enough, if that's the case that does change it. Although if Rangers are disputing the figure and manage to get it down to less than 25% of the total debt, then that could all still happen could it not? Either way, Whyte is a crook. Oh aye, there'll be a dodge in there somewhere, I think the Whyte being a secured creditor thing was around the original loan, if the Ticketus cash went to Whyte and isn't secured on Ranger's books, could make the percentages game tricky. HMRC out for blood Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted February 18, 2012 Share Posted February 18, 2012 Disagree with you on both counts; think Her Majesty's XI will have a couple of fallow years before they challenge again in the league for certain. An assured Scottish presence in CL initial group stages has been mentioned, allowing the Tic to gain a massive financial march on their rivals in the short term. As far as the Halls go; can I just say the unreconstructed Thatcherite megalomaniac was a parasite on the body politic of NUFC. Naming a stand after himself was bad enough, but the money he took out the club was a scandal. I'll kick the cunt's coffin given the chance. Please don't get me started on his family or the scum from Jesmond Park West. thankfully, we didn't carry on under the McKeags, Seymours etc, or you would have been watching us playing 3rd division in a cow shed with 10,000 supporters like Sheffield Wednesday, and certain administration, instead of playing in the Nou Camp and San Siro in the Champions League. And half the posters on here, NO and skunkers, would have been spending Saturday afternoons in IKEA, like they did under the McKeags, Seymours etc. You do with the club what happened from 1992-2007, and you can walk away with as much as you like. That's capitalism and life for you, instead of that failed Marxist stuff. It was like Faust, I'll agree with you. As for skunkers, it's the true faith of messageboard land - take from that what you will..... I know, and stopped buying True Faith years ago. Got a bit tired of reading rubbish. Link to comment Share on other sites More sharing options...
Toonpack 9409 Posted February 18, 2012 Share Posted February 18, 2012 I know, and stopped buying True Faith years ago. Got a bit tired of reading rubbish. Luke 4:23 Link to comment Share on other sites More sharing options...
Monroe Transfer 0 Posted February 18, 2012 Share Posted February 18, 2012 Another loss for them today. Celtic could go 20 points clear on Wednesday if they win then and tomorrow. Motherwell only 6 points behind now, with a game in hand. Link to comment Share on other sites More sharing options...
CleeToonFan 1 Posted February 18, 2012 Share Posted February 18, 2012 Some people comparing Rangers with Darlington, which is a bit unfair seeing as Rangers haven't been crooked since the late 90's and are a much bigger team Link to comment Share on other sites More sharing options...
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