[video=youtube;vFBiMUiMDfA]http://www.youtube.com/watch?feature=player_embedded&v=vFBiMUiMDfA#![/video] 4 mins in, Rae admits that the loan will never be paid back.
At least Rae is acknowledging what the debate is. Rae had a letter detailing payments he would get for paying for Rangers (this is a contract). He requested a "loan"* to get those monies. That is not hard to understand. *A "loan" he concedes that he doesn't have to pay back....so not actually a loan then.
I know, imagine posting the evidence that he's contradicted himself. The loan will never be repaid therefore it is not a loan, if it's not a loan then it is obviously a renumeration for services rendered. It's not rocket surgery.
it is a loan, pay it back whenever. loopholes are dodgy as **** but did it break the law? we'll soon see
Rae stated in the interview with Keevins that "My agent, Phil Graham, was vastly experienced in the way of football contracts and assured me the one I was signing for Rangers was commonplace throughout the game.I’d never heard of EBTs and, to this day, I’m not exactly sure how it all works" But he does know that he got a "Loan" that never had to be repaid? He seems to know how that part works?
Oh he was fully au fait with the non repayable loan. He also deliberately (imho) confused the issue by stating that if the commission view the EBT as a second cobtract then he is guilty. The issue is the letter he has that he has that details payments he would get for playing for Rangers over and above that which was detailed on his contract. The Letter is the second contract, not his loan application.... That wasn't a loan.
I find it remarkable how many people "Just signed what they were told, letting their agent deal with the details". Do they honestly expect people to believe they did not know that they were accepting a tax free cash loan on top of their wages?
I think so dev to be honest. Agents will sign up for what's in their interests. All they are concerned about it what results in the most cash in their pockets. A lot if footballers are out of touch. I read recently many have people who are on call 24/7 for footballers to sort their accounts, take their bins out, ch change lightbulbs etc. it's nuts how dumb they are about their true financial position. It's why lots get into trouble and lose lots cuz they sign what's put in front of them on the promise its the most cash in hand they'll end up with
It beggars belief with all the information that has been leaked out that any normal sensible person does not now accept tha Rangers have cheated with their EBT''s and double contracts. The punishment surely has to be the taking away of some titles the exact number needs to be verified. However there is a far bigger problem facing Sevco, Rangers or whatever they call themselves. Mr Green gave £5.5 m for the stricken wreck. I think it was £1.5m for Ibrox Park and Murrayfield. Now David Murray had a valuation of £121m on those two places less than two years earlier. It has to be the responsibility of the Liquidator to look at the price paid and see can he not raise more money for them. I think, most people would think £1.5m as far too low a price.
