Mike Ashley -- Irrelevant Cunt

[Toonpack 10059]

Can you expand on that?

Due to the EBT's Rangers had been underpaying PAYE/NI for many years, the assessment of withheld/unpaid tax was for around £14/£16 Million (I forget exactly). That sum was accepted and agreed by Rangers (Murray) but then HMRC imposed cumulative and punitive penalties onto that sum of about £25 Million, due to the duration of time of the original offence (around this time several English clubs notably, us and Chelsea iirc, coughed up sums related to EBT's to HMRC to avoid punitive penalties).

 

Rangers appealed the level of the penalties (the additional £25Mill) but not the assessment of unpaid tax. This appeal was in motion when Administration happened and as such the whole liability of the assessed sum PLUS the penalties had to be accounted for as a liability by the Administration process.

 

Even if the appeal had been heard, and won, before the Administration event, the amount due on the agreed liability (the £14-£16 Mill) would still have made HMRC the major creditor and they would still have denied the CVA and liquidation would have been exactly the same as it was.

 

In regard to the £20 Mill Dave King is supposed to be owed, if he had put in his claim before the CVA he could have effected the outcome of that CVA vote, as his £20Mill plus other creditors could likely have outvoted HMRC, but he didn't, he waited until after the CVA to add his claim to the pot, and he even campaigned for fans NOT to support the CVA, he absolutely wanted the liquidation to happen (maybe thinking he could be rid of all the debt and his mates "the Blue Knights" could pick everything back up for peanuts, obviously not realising it was already stitched up by Charlie Green etc.)

 

The sale of assets out of the liquidation is definitely dodgy as fuck, BUT that liquidation was inevitable with or without the appeal against HMRC. Strangely the one person who could have actually made a difference to that is Mr Dave King.

 

On the subject of the EBT's Souness got a payment via EBT from Rangers for about £100K whilst he as our manager, around the time we bought Boumsong, obviously everything was above board though!!!

[The Fish 10978]

Due to the EBT's Rangers had been underpaying PAYE/NI for many years, the assessment of withheld/unpaid tax was for around £14/£16 Million (I forget exactly). That sum was accepted and agreed by Rangers (Murray) but then HMRC imposed cumulative and punitive penalties onto that sum of about £25 Million, due to the duration of time of the original offence (around this time several English clubs notably, us and Chelsea iirc, coughed up sums related to EBT's to HMRC to avoid punitive penalties).

 

Rangers appealed the level of the penalties (the additional £25Mill) but not the assessment of unpaid tax. This appeal was in motion when Administration happened and as such the whole liability of the assessed sum PLUS the penalties had to be accounted for as a liability by the Administration process.

 

Even if the appeal had been heard, and won, before the Administration event, the amount due on the agreed liability (the £14-£16 Mill) would still have made HMRC the major creditor and they would still have denied the CVA and liquidation would have been exactly the same as it was.

 

In regard to the £20 Mill Dave King is supposed to be owed, if he had put in his claim before the CVA he could have effected the outcome of that CVA vote, as his £20Mill plus other creditors could likely have outvoted HMRC, but he didn't, he waited until after the CVA to add his claim to the pot, and he even campaigned for fans NOT to support the CVA, he absolutely wanted the liquidation to happen (maybe thinking he could be rid of all the debt and his mates "the Blue Knights" could pick everything back up for peanuts, obviously not realising it was already stitched up by Charlie Green etc.)

 

The sale of assets out of the liquidation is definitely dodgy as fuck, BUT that liquidation was inevitable with or without the appeal against HMRC. Strangely the one person who could have actually made a difference to that is Mr Dave King.

 

On the subject of the EBT's Souness got a payment via EBT from Rangers for about £100K whilst he as our manager, around the time we bought Boumsong, obviously everything was above board though!!!

Fist's was funnier.

[Toonpack 10059]

Fist's was funnier.

Is this a discussion board or a "comedy" points scoring board ???

 

If the latter all should adjourn to Skunkers at least you can threaten death (in novel and inventive ways) over there.

[Gemmill 46208]

That depends entirely on which Dave you're speaking to.

[The Fish 10978]

Is this a discussion board or a "comedy" points scoring board ???

 

If the latter all should adjourn to Skunkers at least you can threaten death (in novel and inventive ways) over there.

 

 

Do you need some chocolate and a maxipad?

[Toonpack 10059]

 

 

Do you need some chocolate and a maxipad?

[ClubSpinDoctor 0]

Coming from mrs blocky over there...

[trooper 940]

http://www.scotzine.com/2015/03/king-co-choke-on-their-celebratory-cocktail-weenies-as-ashley-strikes/

 

As suspected Ashley's not finished yet.

[ewerk 31238]

Sounds like the resolutions at the Rangers EGM are a cert after Easdale has abstained. Looks like Mike has lost this battle.

 

Also, a Sports Direct van turned up just as the crowds were gathering at the ground, needless to say it didn't get too far.

[Toonpack 10059]

Sounds like the resolutions at the Rangers EGM are a cert after Easdale has abstained. Looks like Mike has lost this battle.

 

Also, a Sports Direct van turned up just as the crowds were gathering at the ground, needless to say it didn't get too far.

Many battles to come I reckon, until bought out(and we know that'll be on his terms) he still controls the revenue streams outside of matchday income and has first call on the assets and IP.

 

Today is just another day in the madhouse that is 2nd Rangers.

 

P.S. The van

 

 

More free publicity

Edited March 6, 2015 by Toonpack

[ewerk 31238]

Exactly what I was thinking.

[Ausman 0]

Ashley will sit back and watch Rangers dry up money wise, and he will really royally fuck them over. I hardly think Ashley is the type to give up so easy.

[trophyshy 7084]

The balls on him man.

 

http://www.theguardian.com/business/2015/mar/06/mike-ashley-too-busy-to-face-mps-over-zero-hours-contracts

 

[Fitbafan 0]

Absolutely delighted with the outcome of the EGM and that is Ashley's boardroom influence pretty much gone, although he still has a 9% shareholding. We have a couple of loans to pay back and he has too much control over our retail division but those battles lie in the future. Ultimately the shareholding block that supported him crumbled making it pretty much a landslide but even without that he was going to lose, just by less of a margin.

[Fitbafan 0]

Sounds like the resolutions at the Rangers EGM are a cert after Easdale has abstained. Looks like Mike has lost this battle.

 

Also, a Sports Direct van turned up just as the crowds were gathering at the ground, needless to say it didn't get too far.

Police advised the Sports Direct van to leave as they feared there could be bother. Unfortunately it did manage to leave in one piece

[Fitbafan 0]

Ashley will sit back and watch Rangers dry up money wise, and he will really royally fuck them over. I hardly think Ashley is the type to give up so easy.

That's not going to happen. King has already said that he, along with other investors, will need to put in over £20 million over the next couple of years. In addition to that the fans boycott will end increasing the clubs revenues. No doubt there will be various savings to be made as well when they get a look at the books, for example, paying a PR company that Lambias just happens to have a 50% share in £30k per month when no one can actually point to any PR work they have done.

[Monkeys Fist 43232]

It begins.

You've pissed him off now, he'll fuck you over twice as hard.

[ClubSpinDoctor 0]

All he wanted was some friendly fans to sit amongst during away games as well. And now you've done this.

[Toonpack 10059]

That's not going to happen. King has already said that he, along with other investors, will need to put in over £20 million over the next couple of years. In addition to that the fans boycott will end increasing the clubs revenues. No doubt there will be various savings to be made as well when they get a look at the books, for example, paying a PR company that Lambias just happens to have a 50% share in £30k per month when no one can actually point to any PR work they have done.

That contract with the PR firm is a tiny one compared to some of the others that are in place, Rangers are losing £6-£8 Mill a year and their wages to turnover ratio is only around 50% I believe, which is very respectable, so players/staff ain't the problem. It's the onerous contracts bleeding the club dry and I'd bet they are watertight.

 

The problem with the so called fans boycott is that many who stayed away had already paid for their season tickets so that money has been spent ages ago, them re-taking their seats won't help much. Indeed it may have the opposite effect, there is rumoured to be one of the onerous contracts in place that has a bonus clause which is triggered when crowds are over a certain number.

 

£20 Mill won't touch the sides over the next couple of years.

 

Whatever happens, Ashley controls retail for the next 2-3 years and any boycott of merchandise will only hurt the club further as it is evidently liable for unsold stock. Fans buy the shirts club get a share of the income, don't buy the shirts the club pays for the shirts at RRP.

 

And don't forget what happened last time King and Mini-Murray were in charge. (the 276 stiffed creditors certainly won't have).

[BLACKANDWHITEGEORDIE 0]

You can bet any retail contracts Ashley has with Rangers FC are watertight and he will take every penny he is entitled to. As far as King is concerned will the Scottish FA consider him to be a fit and proper person bearing in mind his previous tax evasion activities.

Edited March 7, 2015 by BLACKANDWHITEGEORDIE

[Fitbafan 0]

That contract with the PR firm is a tiny one compared to some of the others that are in place, Rangers are losing £6-£8 Mill a year and their wages to turnover ratio is only around 50% I believe, which is very respectable, so players/staff ain't the problem. It's the onerous contracts bleeding the club dry and I'd bet they are watertight.

 

The problem with the so called fans boycott is that many who stayed away had already paid for their season tickets so that money has been spent ages ago, them re-taking their seats won't help much. Indeed it may have the opposite effect, there is rumoured to be one of the onerous contracts in place that has a bonus clause which is triggered when crowds are over a certain number.

 

£20 Mill won't touch the sides over the next couple of years.

 

Whatever happens, Ashley controls retail for the next 2-3 years and any boycott of merchandise will only hurt the club further as it is evidently liable for unsold stock. Fans buy the shirts club get a share of the income, don't buy the shirts the club pays for the shirts at RRP.

 

And don't forget what happened last time King and Mini-Murray were in charge. (the 276 stiffed creditors certainly won't have).

I've gotta ask given many of the terms you've used (Mini-Murray etc) I take it you are a fan, or have a soft spot for, one of our rivals?

[Fitbafan 0]

You can bet any retail contracts Ashley has with Rangers FC are watertight and he will take every penny he is entitled to. As far as King is concerned will the Scottish FA consider him to be a fit and proper person bearing in mind his previous tax evasion activities.

The SFA's fit and proper test seems to be a bit vague but as far as I'm aware it is intended to stop people taking advantage of clubs financially etc, which is kinda ironic given the shysters we've had over the past 4 years. King can rightly point out that he has previously invested, and lost, £20 million in the club and has come in promising further investment that he also expects to lose. I can't see the SFA knocking him back given his inentions and previous history with the club.

[Monkeys Fist 43232]

What if King is in Ashley's pocket, and this has been planned all along?

[Rayvin 5355]

What if King is in Ashley's pocket, and this has been planned all along?

 

So Ashley plants a guy to sabotage his plans to take over the club in order to make it look like he isn't taking over the club when actually, that's what he's doing.

 

That's fucking meta.

[Monkeys Fist 43232]