If Rangers aren't forced to restart in a lower division, Scottish league will lose any remaining credibility, simple as
Leeds did NOT go into liquidation, otherwise we would have had to start in the West Riding leagues. Leeds came out of the CVA after doing a deal with HMRC who threatened to vote against it unless they were made preferrential creditor. Bates did start a new company, and this company bought Leeds off the administrators. This caused a lot of hoohah as questions were asked why Bates was allowed to buy the club back without other bidders being given a shake. Bates put the best deal on the table, he did a deal with HMRC and administrators, and his new company bought Leeds. The club exited admin and the CVA against League regulations which stipulated HMRC should not be a preferrential creditor, hence the points deduction. So you have to question if HawHaw actually wanted Leeds to go into liquidation rather than do a deal with HMRC? Rangers are being liquidated, and as such the club ceases to exist. Leeds were not liquidated, they simply exited the CVA with HMRC as major creditor which was against League rules.
Just a thought - IF Rangers are forced to start in a lower league, Celtic could afford to slash their wage bill and save themselves a small fortune. There will be no stopping them from winning the league with half the quality they have now. Why would they need to sign anyone and strengthen their squad, they are not going to cut it in Europe no matter what they do.
Leeds DID come out of the CVA, but they had ALREADY started the newco - that is why you received the 15 point deduction. This is very different - Rangers will be liquidated and willl have to apply for the share in the SFA again. One sceanrio not mentioned yet - If the other SPL votes say no, there is nothing to stop Rangers applying for place in the English Leagues - If they were to rise up that like they should and end up in the Premiership, they will be bigger than all of the SPL teams put together
**** that, I'd rather see them die forever than come back as a phoenix club. Tedious religious/political dolts, and they can take the other boring drones with the Irish flags with them too.
It appears Rangers are about to receive two new bids to take them over, one is from the Blue Nights who have bid a few times and the other is from a business team based in Yorkshire. There are a few rumours that Bates may be about to move on to Rangers and is awaiting the final stuff of the sale of Leeds before he is named. The current hopeful to take over, Charles Green, appears not to have the cash needed to complete his takeover and the administrators are being investigated for possible conflict of interest, hence they need to act quickly.
Excellent point boab...now that it's liquidation HMRC want the assets sold literally immediately and the business shut down. Following this there is the matter of tax evasion with dual accounts for player payments where apparently players were paid 50% in the UK and 50% offshore as "image rights" so they could avoid paying tax on that amount, in effect halving their tax bill. No wonder HMRC is angry, this really is taking the piss. If I'm not mistaken it was around £70m that had been uncovered, but that may just be an inflated figure by the media. All in all it's a complete **** up and Rangers should come back in the Third Division as Fourth Lanark BTW, HMRC have said there are eight English clubs being investigated for image rights payments. Oh dear, here comes trouble!!
It's never a dull day with Glasgow Rangers FC or Club 12 as they are now known. Financially fecked, about to be kicked out of the SPL and into the 3rd Division of Scotland and now this, it's just unbelievable: http://www1.skysports.com/football/news/11095/7833654/Fenton-flummoxed-over-Rangers On a side note, it appears that Sone Aluko could be on his way to Charlton.
He added:" If Rangers, Celtic or Hibernian or whoever it is wants to move out of Scotland and play at a higher level, they're going to have to start in League Two and work their way through." Quite right as I've said all along since this story broke
What a load of crap.... He did not put the best deal on the table for all the creditors. He just got away with a very odd agreement from a major creditor to waive a lot of money for nothing...? Very dubious and a negative reflection on the authorities and those involved including the FA, HRMC and KPMG for not undertaking due diligence in the matter. When the Jersey case heads to the High Court later this year I would imagine this will be examined much closer, it seems to me that the legitimacy of the CVA could play a large part in the case over unpaid money.
I wonder which teams these are & why they are suddenly interested?? Its been going on for years without any action...
