Football
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31 Jan 12
09:40
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28 Jul 06
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they have been going bust for the last 3 years how has that worked out for celtic .
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Have you got a link for the article in the Record please?
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http://www.mediafire.com/?g6vtldh5ledb7cn
here mate |
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CRAIG WHYTE sold off four years of fans' money to help fund his Rangers buy-out, it was revealed last night.
And Record Sport can also reveal high-ranking HMRC officials are investigating alleged non-payment of VAT since Whyte gained control of the club last May. Current director Dave King and former board member Paul Murray have been quizzed by the tax authorities as part of their enquiry which has revealed £24.4million has been borrowed against future season-tickets sales. Tranches of tickets over four seasons have been sold to Ticketus, a London-based group linked to Octopus, and it's claimed this deal helped finance Whyte's operating costs after the takeover. Whyte himself last night confirmed he had sold off the tickets but denied he used the money to pay off Lloyds Bank. He insisted the £18m for the bank came from one of his companies. When Whyte took over Rangers' debt was £18m to Lloyds Bank and their wage bill had been reduced to £14m but it is believed the club could owe much more than that. It's thought the current debt is £21m to Ticketus plus £5m VAT on the ticket deal. But there could be other bills due and of course Rangers are awaiting the final verdict on their £49m EBT (Employee Benefit Trust) tax case. Last night Whyte insisted the Ticketus deal was normal practice for clubs and his spokesman said: "The suggestion that the Rangers takeover was funded through financing arrangements on season tickets is categorically untrue. "Rangers FC is no different in that it has a working capital facility with Ticketus, as have many, many other clubs. It is a common arrangement in football. This facility was in place at Ibrox long before the takeover." The EBT ruling is due within weeks and if Rangers lose they will be facing financial meltdown. Their debt could then be in the £75m region with liquidation a stark reality. But many now fear Rangers could be tipped over the abyss and into some kind of insolvency even before their Judgment Day over the tax case. |
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basically used the fans money to buy rangers now it needs repaying and he hasnt got it. And again this is before the tax man comes calling.
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RUMOURS SOMETHINGS GONNA BUST LATER ON AS WELL
STRATHCLYDE POLICE ON ALERT |
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fooooking hell......cant get much worse can it?
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yeah rumors have the Police are on stand by for an announcement tomorrow, If I was Whyte id be on the first plane to somewhere sunny, if some of that mob get hold of him he is fooked, and i cant blame them
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I BELIEVE WHYTE HAS ALREADY LEGGED IT TO SPAIN
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this only the tip of the ice berg according to some, more to follow in tomorrows paper so that also might be why cops are needed. seems like four or five off them have been fleecing them for years.
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Done em over good and proper by the looks of it. I know selling one years season tickets to get through is fairly common practise ,but 4???? Makes ya wonder how much "due diligence" ....if any,Murray used before he sold out
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Maybe the pope will bail them out. He's got loads of money.
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its along they same lines as Leeds done except this is four times worse.
Murray is some w@nker, Doesn't seem to be a mention of his name surprise surprise, not like his friends in the press to keep his name out of it. This is all his fault, yes Whyte has put the nail in the coffin but Minty was the one that got it started. Have to laugh aswel at the record and their "exclusive" every Tim and his dug knew about this. right have to go out, more to follow no doubt |
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What have Rangers fans and Celtic fans got in common?
Both are obsessed with Rangers. |
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if us Tims didnt take an interest in your club you would never find out whats happening at Ibrox.
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http://i169.photobucket.com/albums/u233/rikok1966/
432269_1847961416861_1775484854_965679_1325407197_n.jpg |
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all this debt and we are still CHAMPIONS 3 YEARS IN A ROW.
what the feck is happening at parkhead. |
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Yeah longchamp but look what they 3 leagues cost you in the end.You could afford the players you have been paying
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if rangers go bust you might win the league at last but not definately.
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the leagues over and if it wasnt it is now with jelavic away.no goals in the team and you know it
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Rangers are a point behind Celtic and best priced 10/3 to win the SPL with bookmakers. When Celtic were 15 points behind Rangers they were best priced 9/4 to win it. I don't think we need Rangers to go bust to win the SPL longchamps.
After the SFA shenanigans of the last two seasons I think it would be very fitting if Celtic negotiated a way into the EPL and left the SFA to manage a wee diddy league |
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this is my favourite time of the year when all the tims think they are going to win everything and it all ends in tears .
you would think they would learn. |
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its totally different this year mate and if you dont realise it your probably one of the ones who support whyte
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I'm surprised your not out and about mopping up that 10/3 longchamps unless you're in administration yourself.
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nice one feck
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im glad you find all this funny longchump. typical bear too busy with his triumphalism than actually facing the fact his club is on the brink of extinction. They even put their big screens up on Ebay for sale. As i said I feal sorry for the real fans such as Mactheknife but you sir better get your train ticket to swinecastle
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What he's done is have Ticketus fund his takeover and give him the money to pay off Lloyds and keep the club running for a while. In the mean time, Whyte has structured his takeover so that he can walk away in the event of administration and be owed the £18m used to pay off Lloyds. That is, his company will be owed that money, not Ticketus.
Rangers get divied up between HMRC, Ticketus and himself as essentially he's forked out £1 to get a potential £18m profit. Top businessman? The man's a criminal genius!! [ This image is no longer available. ] |
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how is that 13.5 million bid for hooper from the russian club you were shouting about last night coming along .
feckin muppet. |
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we knocked it back, dont need the money
Apparntly Lawell was onto to Whyte and was told to hold out for 3.5 million. I was shouting aboot? it was on sky sports muppetOh your goin to be hurting soon child |
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im still hurting from last year .
my sides that is |
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forever in our shadow [ This image is no longer available. ] |
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how come its not in colour
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you put your European trophy in colour up and ill put mine up
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is it cold in our shadow???
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As a "Tim" I really feel for the good loyal Rangers supporters not the hate merchants these guys pay good money up front and do not expect to get "shafted" but that,s what has happened,it,s not being clever after the event but a few years ago well before the present regime Rangers were reported to be 72mil or so in debt then the following season only 12mil who the fcuk payed the 60mil or so,where did it go?? you cannot walk away from that Murray has a lot of questions to answer.Very sad.
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it will be bad if rangers go bust but us true celtic fans dont want that as we need a strong rangers team in the league even if they always somehow win the league without a strong rangers team the spl is finished we will be lucky getting 15000 a week into celtic park.
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BARNEY. I totally agree have afew mates who are rangers daft and good folk but the fact the just denied anything was wrong and it was all timmy lies was unreal. Its hard to feel too much pity.
miss t. I dont think we need rangers to be honest. Before Minty moonbeams came along with his dodgy money Scotland actually had a good comp, maybe this might help the likes off Abeerdeen and Dundee united. |
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johnny i cant believe that celtic dont need rangers you must live in cloud cuckoo land the sky deal alone would have to go as they are only paying the dough they are paying to get rangers and celtic 4 times a year we would have to downsize do you honestly believe desmond would pay for half decent players no chance he is a buisness man.
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we get fook all off sky, 2 million maybe? The money is in the Champions league money and tv money that generates. Desmond doesn't pay them, its a PlC mate, you think the money comes out of Desmonds pocket? Celtic is run like a business. Celtic dont need rangers,
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