Watched part one of the Rising. How to distort the truth, the. This is a masterpiece. Shift the blame away from Murray of the D variety and McCoists incompetence as a manager.
Various sevcoites claim that HMRC were to blame for forcing admin too quickly.
Bollocks
Both Whyte and Clark of D and P explained that they had been in negotiations and discussions with HMRC for months over the non payment of taxes. For them to have been in negotiations for months means that the tax authorities had flagged up non payment of the PAYE and NI very early on. This leaves HMRC two options
1 negotiate a settlement of some kind
2 enforce a winding up order for non payment of tax as Orlit are claiming to do.
HMRC clearly opted for 1 since 2 would leave them open to tremendous criticism for not giving Scotland's second largest and third most successful club a chance to clear the outstanding debt and this argument is particularly potent given defunct RFC turnover and earning capacity.
Earning capacity for Celtic and Rangers centres around European achievements, witness Celtic earning £30m approx this year alone. Any business person worth their salt would point this out to HMRC. Whyte, like Green, is a venture capitalist and by definition involves himself in gambles with other people's money, but to great profit for himself if successful. He had initially gambled on making the CLGS but McCoists incompetence as a manager scuppered that and was further compounded by failure in the EcC and domestic trophies.
All that was left was the SPL TITLE and subsequent possible entry to the following years CL. However, TFPL was now 11 points behind Neil Lennon in the title chase and the gap had widened and was widening. The possibility of CL money was rapidly disappearing. HMRC decided to pull the plug.
THE REASONS FOR RFC LIQUIDATION AND DEATH CAN BE LAID AT THE FEET OF THREE PEOPLE.
FIRSTLY, David Murray who gambled with EBTs and massive bank debt and failed to foresee the potential crash for venture capitalists like himself and for the banking system, something which there were many experts warning of fora few years previously. Panorama even ran a programme on the matter and news items contained several leading economists forecasting such. Subsequently, Murray gave the club away to the first entire capitalist to come along and make no mistake, it the club would only attract VCs.
SECONDLY, McCoists failure in virtually every trophy meant that potential earnings in excess of £40m were gone and with them any chance of survival for the now defunct RFC. This was compounded by his letting a 15 point led in October be reduced and surpassed dramatically by Neil Lennon to the point that any prospect of winning the title and accessing the CL pot of gold and RFC SURVIVAL KIT were gone. Even domestic trophies with a few millions earning capacity in terms of prize money and tv revenue were gone, due to on field performances being poor.
THIRDLY, Craig Whyte, but he was a victim of circumstances. Theoretically his financial plan should have worked. Access las years CLGS and access £25m, which saves the club, but he had not reckoned with McCoist, nor Waltr whose ego was bigger than his desire to rescue the club, something he could probably have done.
Then the lack of domestic trophy and tv revenue and finally McCoist blowing the title and any possibility of accessing the life saving CL money, which Celtic have now got hold of. Whyte probably tried to negotiate an instalment of payments to HMRC, who given the controversial nature of rfc admin, were willing to entertain, but TFPL scuppered that.
Now here is the real irony. SEVCO fans are so blind that they cannot see the real villains as being,
DAVID MURRAY AND McCOIST. Murrays gambling with high risk debt and inability to read the change in the financial future, even ignoring warning signs broadcast several times terrestrial tv leading to the subsequent give away to another venture capitalist.
McCoist capacity to snatch defeat from the jaws of victory.
Make no mistake about this, Craig Whytes venture capital plan could easily have worked. CL money domestic success ensure that both HMRC and Ticketus could have been dealt with, as would other lesser creditors, however the Goebels like propaganda machine and Ibrokes will continue to tell w huge untruth. As Goebels said, the bigger the lie the more likely people are to believe it.