Rangers into administration

[henrik777]

http://news.stv.tv/scotland/west-central/297509-hmrc-moves-to-put-rangers-into-administration/

HMRC moves to put Rangers into administration
This comes after Rangers had lodged a notice of intent to appoint an administrator.

14 February 2012 11:02 GMT
Comment

HM Revenue and Customs have lodged an application to put Rangers into administration.

The club had lodged a notice of intent to appoint an administrator.

However, on Tuesday HMRC lodged an order with the Court of Session in Edinburgh calling for the court to appoint an administrator.

It will be heard before a judge at midday and HMRC are due to make a statement afterwards.


Sandy

[henrik777]

Sandy

[henrik777]

http://news.stv.tv/scotland/west-central/297531-rangers-appointing-administrators-today/

Rangers 'appointing administrators today'
Legal representatives from the Ibrox club claimed administrators will be appointed regardless of the HMRC court hearing outcome.

By Mike Farrell
14 February 2012 13:05 GMT
Comment

Rangers say they are appointing administrators on Tuesday but HMRC is disputing the legality of this.

The club told the Court of Session in Edinburgh that paperwork was on its way to appoint an administrator on Tuesday afternoon.

HMRC told the court that it had applied to the court to appoint an administrator on Monday, before Rangers lodged their intention to appoint an administrator.

The tax authority is opposing the move for Rangers to bring in its own administrators, claiming that it is not valid.

Before arguments were heard from both sides before Lord Menzies, legal representatives for the Ibrox club confirmed it plans to call in administrators on Tuesday afternoon.

Whether Rangers are allowed to appoint their own administrator, or one will be brought in after HMRC applied to the court remains to be seen and the court case will resume for legal argument at the Court of Session on Tuesday.

As a result of the move, the club have automatically been docked ten points in the SPL, leaving them 14 points behind Celtic in second place.

Administrators have been appointed to take over the running of Rangers as the club is awaiting the outcome of a crucial tax case with HMRC that could result in them being hit with a bill of up to £75m, according to owner Mr Whyte.

Sandy

[henrik777]

Done deal. HMRC has withdrawn petition and sought expenses to date from Rangers F C. Court has granted expenses. Rangers has appointed administrator. 10 points docked.

Sandy

[outragous76]

what you need to remember about all this stuff when you hear it in the media, is that the outcome is already known. These are planned and worked on, things dont really happen by surprise when involving such big entities

[henrik777]

what you need to remember about all this stuff when you hear it in the media, is that the outcome is already known. These are planned and worked on, things dont really happen by surprise when involving such big entities

I don't think it was planned that HMRC would force a court case today. It is a bit ironic that Rangers have to pay court expenses though.

Sandy

[Snowball]

10/1 Kilmarnock on Saturday anyone?

[Teacake]

HMRC went to court today because of the £9m in unpaid PAYE and NI since Whyte took over in May 2011 not because of the "Big" Tax case. RTC blogged about this weeks ago.

[Acidmouse]

What has whyte put into the club? bought for  £1 paid off bank £20m with future season ticket sales revenue. He promised to inject funds to pay all the tax off and has not.

[henrik777]

They should just liquidate the whole of Scottish footy and be done with it to put the whole country out of their misery 

It won't be long before the premiership is rocked again

#simplythebust

Sandy

"Sources tell me HMRC played hard ball with #rangers because sees it as test case. Has some big English clubs in same sights." @afneil

Sandy

[Acidmouse]

League without rangers is a dead league though as much as it pains me to say. Try getting a decent TV rights $ without the big two derbys.

[henrik777]

League without rangers is a dead league though as much as it pains me to say. Try getting a decent TV rights $ without the big two derbys.

Rangers have just announced a tv deal...from next season there games will be shown on the history channel.

Sandy

[Teacake]

League without rangers is a dead league though as much as it pains me to say. Try getting a decent TV rights $ without the big two derbys.

Celtic get less than £2m a season from Sky/ESPN, we can live without that quite easily. I can't remember talk of a dead league when Celtic nearly went out of business.

[Boba Fett]

League without rangers is a dead league though as much as it pains me to say. Try getting a decent TV rights $ without the big two derbys.

Celtic get less than £2m a season from Sky/ESPN, we can live without that quite easily. I can't remember talk of a dead league when Celtic nearly went out of business.

The league was a lot different by then, werent Celtic terrible back then anyway? And I think Aberdeen, Motherwell, Hearts were somewhat competing at the time.

I think Celtic will lose out on money from TV and sponsorship.  Will it affect them a lot? Maybe not but I think itll affect the other teams a lot more and cause a downward spiral effect that, imo, has to affect Celtic.  Also I see the overall product at Celtic having to downsize as a result, making less money and with every other team so far behind in quality there is no need to be paying so much in wages when they could spent a lot less and still win it.

As much as Celtic fans are gloating over it all and want to beleive they will be fine, I think its incredibly optimistic to think that removing 1 of the old firm doesnt result in the league being on the same level as the Irish or Welsh leagues.

[Acidmouse]

time for Celtic to join the championship