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the rangers have been refusing to pay Orlit (They haven't paid the people who found the money to buy and set up the club...)
and are facing a winding up order from Orlit in the courts.
Seems like you need the money up front if you are dealing with them.
and are facing a winding up order from Orlit in the courts.
Seems like you need the money up front if you are dealing with them.
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this is probably a stupid question...but i don't really know the details of the whole rangers situation
if they were in debt and couldn't pay it, why didn't bailiffs come and re possess ibrox? and sell it to a property developer or someone, turn it into a block of flats or something?
that's what happens when your average man can't pay debts, no?
if they were in debt and couldn't pay it, why didn't bailiffs come and re possess ibrox? and sell it to a property developer or someone, turn it into a block of flats or something?
that's what happens when your average man can't pay debts, no?
Stringer,that remains a mystery.
Green was sold assets valued at £80 million for the princely sum of £5 million and has been boasting about it ever since.
Green was sold assets valued at £80 million for the princely sum of £5 million and has been boasting about it ever since.
You're being a wee bit harsh on our sevconian chums 
They had a plan firmly in place to pay the £400,000, and the
fact that Orlit had no knowledge whatsoever as to what this involved, can clearly
be put down to an oversight
They had a plan firmly in place to pay the £400,000, and the
fact that Orlit had no knowledge whatsoever as to what this involved, can clearly
be put down to an oversight
I've heard of Third Lanark; if (when?)The Rangers FC go under again will they be know an Third Rangers? 
They really are a laughing stock; Scottish football's gift that just keeps giving.
They really are a laughing stock; Scottish football's gift that just keeps giving.
That boycott was a brilliant idea. They get pumped, embarassed, humiliated and have the pish ripped out of them for 90 minutes in an attempt to hurt Dundee Utd fincially and it turns out they need the shared gate money after all. Hope Dundee Utd get proof that Chuckie has given their half to charity.
Alex Thomson has just tweeted Orlit has been back onto him and they have not heard anything from the rangers despite what chuckles is saying.
chuckles has also stated they intend getting better backroom staff in to help out sally.
chuckles has also stated they intend getting better backroom staff in to help out sally.
Some info seeing as you 2 are obsessed with everything to do with our club.
........................................
Rangers refutes Orlit debt report
Rangers insists there is no threat to the club over a debt owed to a Singapore-based financial services firm, after reports it could face a winding-up petition.
SPL chief talks up reconstruction plans
Channel 4 News reported that Orlit Enterprises was seeking a winding-up order over an alleged debt of £400,000 ($607,336) for helping source the initial investment which helped Charles Green's company acquire the assets and business of oldco Rangers in June last year.
However, Rangers played down the debt and claimed a repayment plan had been agreed.
The club issued a 'court petition statement', which read: "With regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork.
"Rangers Football Club is capable of meeting any debts presented legitimately and we would like to stress to our supporters there is no threat to the club whatsoever.
"The matter is unworthy of further comment."
Orlit Enterprises was unavailable for comment.
............................
DUBAI // Charles Green, the chief executive of Rangers Football Club, has told the club's supporters that while the financial situation at the beleaguered Scottish club is now strong, plans need to be put in place to cope with the potential for "seven years of famine".
The Englishman, backed by an international consortium, acquired the business and assets of Rangers last summer for £5.5 million (then Dh31.5m) after the debt-ridden club had gone into administration in February.
Rangers, having floated on the London Stock Exchange's junior Alternative Investment Market in December, are now on a firmer financial footing, leading some fans to question the need to sell the naming rights of the club's famous Ibrox Stadium.
Green accepts such deals are "always an emotive subject", but argues fiscal discipline is essential.
"I reply by quoting part of the Bible and how seven years of feast is followed by seven years of famine," he told The National.
"At the moment, we are in a feast: we have 48,000 fans coming through the turnstiles, we have cash in the bank and are in a very, very positive zone. But there will be bad times as well.
"What we have to do is run this not in the hope that someone like David Murray [Rangers' former owner and chairman] has got a credit card or that the bank will give us an overdraft. We have to run it where we work our assets, monetise what we have and spend it wisely."
Green, who it is understood assured fans the word "Ibrox" will remain part of the stadium name, said that while some of the money raised through Rangers' flotation has been spent on the acquisition of Edmiston House, a three-storey building next to Ibrox that will be converted into a megastore and members' club, the majority of the finances remain untouched.
"The idea is not to spend money and see it disappear, but rather bring recurring revenue through memberships and retail," he said, adding that the club hope to announce the kit manufacturer for next year within seven days. "It will be one of the big names in soccer and the shirt sponsor will follow soon after."
On the pitch, the club remain prohibited from purchasing players as a condition of gaining membership of the Scottish Football Association. "Money is being put in a piggy bank" for Ally McCoist, the Rangers coach, Green said.
"Of course, we can't buy players until next January, but we would expect to bring in a group of players out of contract in the summer and they could sign from September 1," he added.
The Rangers flotation in December saw Green raise £22.2m through large institutions as well as smaller investors, including fans of the club.
The shares, which started at 70 pence, hit a record high of 93p on December 27, but have fallen in recent weeks and were yesterday trading at 80 pence.
The company, according to data provided by Reuters, is now valued at about £53.2m and Green has said he sees no reason why, provided they return to the top tier of Scottish football, the club's turnover cannot in time exceed £100m without television revenue.
........................................
Rangers refutes Orlit debt report
Rangers insists there is no threat to the club over a debt owed to a Singapore-based financial services firm, after reports it could face a winding-up petition.
SPL chief talks up reconstruction plans
Channel 4 News reported that Orlit Enterprises was seeking a winding-up order over an alleged debt of £400,000 ($607,336) for helping source the initial investment which helped Charles Green's company acquire the assets and business of oldco Rangers in June last year.
However, Rangers played down the debt and claimed a repayment plan had been agreed.
The club issued a 'court petition statement', which read: "With regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork.
"Rangers Football Club is capable of meeting any debts presented legitimately and we would like to stress to our supporters there is no threat to the club whatsoever.
"The matter is unworthy of further comment."
Orlit Enterprises was unavailable for comment.
............................
DUBAI // Charles Green, the chief executive of Rangers Football Club, has told the club's supporters that while the financial situation at the beleaguered Scottish club is now strong, plans need to be put in place to cope with the potential for "seven years of famine".
The Englishman, backed by an international consortium, acquired the business and assets of Rangers last summer for £5.5 million (then Dh31.5m) after the debt-ridden club had gone into administration in February.
Rangers, having floated on the London Stock Exchange's junior Alternative Investment Market in December, are now on a firmer financial footing, leading some fans to question the need to sell the naming rights of the club's famous Ibrox Stadium.
Green accepts such deals are "always an emotive subject", but argues fiscal discipline is essential.
"I reply by quoting part of the Bible and how seven years of feast is followed by seven years of famine," he told The National.
"At the moment, we are in a feast: we have 48,000 fans coming through the turnstiles, we have cash in the bank and are in a very, very positive zone. But there will be bad times as well.
"What we have to do is run this not in the hope that someone like David Murray [Rangers' former owner and chairman] has got a credit card or that the bank will give us an overdraft. We have to run it where we work our assets, monetise what we have and spend it wisely."
Green, who it is understood assured fans the word "Ibrox" will remain part of the stadium name, said that while some of the money raised through Rangers' flotation has been spent on the acquisition of Edmiston House, a three-storey building next to Ibrox that will be converted into a megastore and members' club, the majority of the finances remain untouched.
"The idea is not to spend money and see it disappear, but rather bring recurring revenue through memberships and retail," he said, adding that the club hope to announce the kit manufacturer for next year within seven days. "It will be one of the big names in soccer and the shirt sponsor will follow soon after."
On the pitch, the club remain prohibited from purchasing players as a condition of gaining membership of the Scottish Football Association. "Money is being put in a piggy bank" for Ally McCoist, the Rangers coach, Green said.
"Of course, we can't buy players until next January, but we would expect to bring in a group of players out of contract in the summer and they could sign from September 1," he added.
The Rangers flotation in December saw Green raise £22.2m through large institutions as well as smaller investors, including fans of the club.
The shares, which started at 70 pence, hit a record high of 93p on December 27, but have fallen in recent weeks and were yesterday trading at 80 pence.
The company, according to data provided by Reuters, is now valued at about £53.2m and Green has said he sees no reason why, provided they return to the top tier of Scottish football, the club's turnover cannot in time exceed £100m without television revenue.
Why is it when people are p1shin themselves laughing at you lot, the ONLY riposte from you bankrupt phuckers, is that we are somehow obsessed 
Told you before, nobody gives a phuck about your rancid mob, we are actually dancing and singing around your grave
Told you before, nobody gives a phuck about your rancid mob, we are actually dancing and singing around your grave
Why are you pishin yourself at a story that is unsubstantiated?
"Money is being put in a piggy bank" for Ally McCoist, the Rangers coach, Green said.
When I first read this I thought it must be an article from the onion or some other satirical magazine but no this genuinely seems to be the official statement from "Rangers"
Once again, Rangers are the subject of media reports and speculation which are at best misleading and at worst malicious.
In an ideal world, for instance, one in which journalism wasn’t at such a damning low it has to be investigated by the highest authorities with culprits facing jail sentences, there would be no need for this Club to respond.
However, because it has become clear Rangers cannot rely on basic honesty, decency or integrity from enough of the country’s media outlets we must speak for ourselves. We have a duty to our supporters to put the record straight.
Rangers have been disputing a payment to a foreign company, Orlit, although it should be stressed we have never said there is no bill to be met.
What we have said and what we are telling our supporters is that not all of the invoices submitted with regard to this bill are legitimate.
Clearly there has been a lack of understanding within the media about this when all we have done is refuse to be forced into paying sums we do not owe. It is as simple as that.
Who on earth would pay out when faced with a spurious request for money?
No matter what anyone else says, Rangers have agreed a figure to settle this issue and it is a figure which, as we have already tried to explain, is significantly less than the initial demand.
Only the wording, which would put this matter to rest once and for all, has still to be signed off.
And despite what some over-excited but desperately ill-informed bloggers claim, there is no threat of this Club being closed. That is downright malicious and ludicrous.
But let’s make one thing clear: If Orlit wish to instruct their lawyers to go to court then we will defend our position vigorously.
We are absolutely convinced we’d win but we did think it would be better to avoid giving our many detractors another bar with which to beat us over the head.
That’s why we made an offer to settle but we now find we are still being harassed.
The thought process seems to be that if we have £22m from the recent IPO we should just pay up. Bizarre. Why should we?
Of course we can pay the amount demanded – it is, as we’ve already stated, a small amount - but it is ridiculous to hand over more than is due.
The money belongs to Rangers and we will not give it out to anyone who comes along with invented invoices.
That would be reckless in the extreme and suggest that nothing has been understood from the past when Rangers were in effect mugged by money grabbers.
We are here to make sure that does not happen again. We do pay our bills on time and we have always been prepared to pay this one.
There are many people and journalists who will choose to disbelieve this truth but that is up to them.
They will continue to attack Rangers no matter what we say but this statement is not for them.
It is for our supporters. They deserve to know and understand the exact and precise state of play,
Rangers will not be closed. This Club will never run up crippling debts and we will not pay over-inflated salaries to players.
However, we will have a sensible pay structure which won’t threaten the club’s existence. That is what we believe the fans want.
Having said that, Rangers are rising and we will return to the top flight where we will be competitive again.
We are still very much at the beginning of a long road back and although there will be potholes to be negotiated, nothing will stop us.
Rangers are no longer soft touches. We will not bow to or run from bullies and we will not be pressured into handing out even £1 if it is not merited.
We are sorry if this, or the fact that Rangers are financially healthy, isn’t what people want to hear but this is the new reality.
It is for others to come to terms with that and also our continued revival. It would, however, be a pleasant change if we could be left alone to get on with our business.
That isn't even something to take the piss out of that is just embarrassing. Are they actually paying Traynor to write **** like that?
Once again, Rangers are the subject of media reports and speculation which are at best misleading and at worst malicious.
In an ideal world, for instance, one in which journalism wasn’t at such a damning low it has to be investigated by the highest authorities with culprits facing jail sentences, there would be no need for this Club to respond.
However, because it has become clear Rangers cannot rely on basic honesty, decency or integrity from enough of the country’s media outlets we must speak for ourselves. We have a duty to our supporters to put the record straight.
Rangers have been disputing a payment to a foreign company, Orlit, although it should be stressed we have never said there is no bill to be met.
What we have said and what we are telling our supporters is that not all of the invoices submitted with regard to this bill are legitimate.
Clearly there has been a lack of understanding within the media about this when all we have done is refuse to be forced into paying sums we do not owe. It is as simple as that.
Who on earth would pay out when faced with a spurious request for money?
No matter what anyone else says, Rangers have agreed a figure to settle this issue and it is a figure which, as we have already tried to explain, is significantly less than the initial demand.
Only the wording, which would put this matter to rest once and for all, has still to be signed off.
And despite what some over-excited but desperately ill-informed bloggers claim, there is no threat of this Club being closed. That is downright malicious and ludicrous.
But let’s make one thing clear: If Orlit wish to instruct their lawyers to go to court then we will defend our position vigorously.
We are absolutely convinced we’d win but we did think it would be better to avoid giving our many detractors another bar with which to beat us over the head.
That’s why we made an offer to settle but we now find we are still being harassed.
The thought process seems to be that if we have £22m from the recent IPO we should just pay up. Bizarre. Why should we?
Of course we can pay the amount demanded – it is, as we’ve already stated, a small amount - but it is ridiculous to hand over more than is due.
The money belongs to Rangers and we will not give it out to anyone who comes along with invented invoices.
That would be reckless in the extreme and suggest that nothing has been understood from the past when Rangers were in effect mugged by money grabbers.
We are here to make sure that does not happen again. We do pay our bills on time and we have always been prepared to pay this one.
There are many people and journalists who will choose to disbelieve this truth but that is up to them.
They will continue to attack Rangers no matter what we say but this statement is not for them.
It is for our supporters. They deserve to know and understand the exact and precise state of play,
Rangers will not be closed. This Club will never run up crippling debts and we will not pay over-inflated salaries to players.
However, we will have a sensible pay structure which won’t threaten the club’s existence. That is what we believe the fans want.
Having said that, Rangers are rising and we will return to the top flight where we will be competitive again.
We are still very much at the beginning of a long road back and although there will be potholes to be negotiated, nothing will stop us.
Rangers are no longer soft touches. We will not bow to or run from bullies and we will not be pressured into handing out even £1 if it is not merited.
We are sorry if this, or the fact that Rangers are financially healthy, isn’t what people want to hear but this is the new reality.
It is for others to come to terms with that and also our continued revival. It would, however, be a pleasant change if we could be left alone to get on with our business.
That isn't even something to take the piss out of that is just embarrassing. Are they actually paying Traynor to write **** like that?
That statement from Traynor must be the most cringeworthy ever issued by a professional football club.
This Club will never run up crippling debts and we will not pay over-inflated salaries to players.
Eh
.That would be reckless in the extreme and suggest that nothing has been understood from the past when Rangers were in effect mugged by money grabbers.
Eh
We do pay our bills on time and we have always been prepared to pay this one.
Eh
It is for others to come to terms with that and also our continued revival. It would, however, be a pleasant change if we could be left alone to get on with our business.
Eh
This Club will never run up crippling debts and we will not pay over-inflated salaries to players.
Eh
.That would be reckless in the extreme and suggest that nothing has been understood from the past when Rangers were in effect mugged by money grabbers.
Eh
We do pay our bills on time and we have always been prepared to pay this one.
Eh
It is for others to come to terms with that and also our continued revival. It would, however, be a pleasant change if we could be left alone to get on with our business.
Eh
Jim Traynor as hack "No matter how Charles Green attempts to dress it up, a newco equals a new club. When the CVA was thrown out Rangers as we know them died."
Jim Traynor as Sevco PR "But why is it so many continue to write or broadcast that this is a new club, when it is the owners who are new?"
Jim Traynor as Sevco PR "But why is it so many continue to write or broadcast that this is a new club, when it is the owners who are new?"
Well said Jim Traynor at last we have some clarity on the matter, we can rest easy knowing our great club is in good fiscal hands at last.
Onwards & upwards.
Onwards & upwards.
mac - "Why are you pishin yourself at a story that is unsubstantiated?"
Please explain what it is about this story that you believe to be "unsubstantiated"
Orlit seemingly did work on your club's behalf in bringing together some investors - your club freely admits this is true
Orlit submitted invoices for this service - your club freely admits this is true
Orlit say they have not yet been paid - your club freely admits this is true
Now I understand the delay in settling the invoices may be due to a disputed figure between the parties, and this would seem fair enough, but would you not agree that in allowing this to go unresolved, given recent history, is a spectacular own goal and PR disaster 
Please explain what it is about this story that you believe to be "unsubstantiated"
Orlit seemingly did work on your club's behalf in bringing together some investors - your club freely admits this is true
Orlit submitted invoices for this service - your club freely admits this is true
Orlit say they have not yet been paid - your club freely admits this is true
Now I understand the delay in settling the invoices may be due to a disputed figure between the parties, and this would seem fair enough, but would you not agree that in allowing this to go unresolved, given recent history, is a spectacular own goal and PR disaster
Read Jim Traynor for your explanation and believe.
If you got a bill through your front door for more than you thought it would be would you pay it?
It was reported that Orlit were about to request a winding up order, so where is it?
unsubstantiated story?
It was reported that Orlit were about to request a winding up order, so where is it?
unsubstantiated story?
But how can I (or you!!) believe anything that comes out of Jim Traynor
Please re-read my post of 9.25am and tell me how the man can possibly have even a vestige of credibility left
Please re-read my post of 9.25am and tell me how the man can possibly have even a vestige of credibility left
I believe him, you choose not to because his answer does not fit in with your agenda.
btw there are horses to source & betting to be done today so moscow.
Having the power of original thought and refusing to believe everything I read does not mean I have an "agenda"
Good luck with the gee gees
Good luck with the gee gees
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