Rangers FC lodge papers to go into administration

blahfckingblah · 03-03-2012 8:05pm

Jelle1880 wrote: »

Funny, never seen you here before.

Or do you only show up when Celtic are doing good and Rangers aren't ?

thats good attack people for not being here before as "not real fans" at the first sign of criticism, you dont know anything about him,,, not the first time i'v see these kind of comments

Edit: what game are you on about Jelle?

bobbysands81 · 04-03-2012 2:49am

Jelle1880 wrote: »

Funny, never seen you here before.

Or do you only show up when Celtic are doing good and Rangers aren't ?

2,992 fewer people at Ibrox today than at your last home game.

"We don't do walking away".

bobbysands81 · 04-03-2012 2:57am

Serious question for Rangers fans...

Your administrators say you need to save £1m per month between now and season's end. That's £230,000 PER WEEK. Where the hell is that amount of savings going to come from?

That's the equivalent of 23 players earning £10k per week leaving the club... yet the administrators have not had any kind of cull almost 3 weeks into their work?! What's going on?

Without massive short term investment you guys won't even see the summer in your current guise.

Then what happens if the big tax case goes against you?

It's now at the stage where liquidation is not a possibility but unavoidable unless huge and immediate investment happens in advance of March 16th.

d22ontour · 04-03-2012 3:00am

If the King of Spain can be allowed to bail out 'it's' club at will then surely the Queen of Britain can come up with some tax dodging scheme that can bail out the most English club of them all...

bobbysands81 · 04-03-2012 3:24am

d22ontour wrote: »

If the King of Spain can be allowed to bail out 'it's' club at will then surely the Queen of Britain can come up with some tax dodging scheme that can bail out the most English club of them all...

Seems like Rangers have already kept their side of the bargain with their tax schemes... now for the Queen to do the same.

After all they Have a pic of her in their dressing room.

http://www.google.ie/search?tbm=isch&hl=en&source=hp&q=queen+rangers+dressing+room&gbv=2&aq=f&aqi=&aql=&oq=&biw=768&bih=928&sei=Tc1ST4ymI5GIhQet8fj8Aw

Jelle1880 · 04-03-2012 2:24pm

bobbysands81 wrote: »

2,992 fewer people at Ibrox today than at your last home game.

"We don't do walking away".

Which is still 5000 more than at Celtic after our administration, despite the league being pretty much won.

blahfckingblah: The Celtic - Dunfermline game.
Attendance: 45.000

And you can't deny that now, all of a sudden when Celtic have won the league and Rangers are in trouble, a lot of 'Celtic fans' come out of the woodwork.
I'm not saying he's not a fan, but it's... odd, to say the least.

edit:

bobby: I don't see any outcome either, unless a consortium steps in and gets us out of this mess then liquidation is probably the next step

Pompey Magnus · 04-03-2012 2:28pm

Jelle1880 wrote: »

Which is still 5000 more than at Celtic the weekend after our administration, despite the league being pretty much won.

Your team obviously isn't used to all the attention, they have lost every home game since the full houses started!

Get behind your team by staying at home next time, it might just help :P

Jelle1880 · 04-03-2012 2:33pm

Pompey Magnus wrote: »

Your team obviously isn't used to all the attention, they have lost every home game since the full houses started!

Get behind your team by staying at home next time, it might just help :P

That's been done by Celtic fans already, it didn't help :P

TheBuilder · 04-03-2012 6:51pm

bobbysands81 wrote: »

2,992 fewer people at Ibrox today than at your last home game.

"We don't do walking away".

Or maybe people just couldn't afford a ticket or travel?

Lets be honest, if there's one thing Celtic fans can't slag off Rangers fans for its attendances.

Coillte_Bhoy · 04-03-2012 7:06pm

Jelle1880 wrote: »

blahfckingblah: The Celtic - Dunfermline game.
Attendance: 45.000

(

How is that 15,000 less than than the usual attendace??

I didnt realise our average home attendance was 60,000

bobbysands81 · 04-03-2012 9:50pm

TheBuilder wrote: »

Or maybe people just couldn't afford a ticket or travel?

Lets be honest, if there's one thing Celtic fans can't slag off Rangers fans for its attendances.

Why?

I'd imagine we've had higher average attendances than you guys over the last three years... and you guys won the title each of those three years.

Just checked the stats, we've a higher average attendance in 11 of the last 12 years.

Jelle1880 · 04-03-2012 9:52pm

Coillte_Bhoy wrote: »

How is that 15,000 less than than the usual attendace?? I didnt realise our average home attendance was 60,000

That's not what I said.
I said that's it silly to comment on the Ibrox attendance dropping by a shocking 2.000 when you don't even fill your own ground after pretty much winning the league.

bobmalooka · 04-03-2012 9:54pm

Jelle1880 wrote: »

That's not what I said.
I said there's no use commenting on the attendance dropping by a shocking 2.000 when you don't even fill your own ground after pretty much winning the league.

enough show up to keep the bills paid.

bobbysands81 · 04-03-2012 10:06pm

Jelle1880 wrote: »

That's not what I said.
I said that's it silly to comment on the Ibrox attendance dropping by a shocking 2.000 when you don't even fill your own ground after pretty much winning the league.

The biggest call to arms in your history in order to save your club saw three thousand fewer fans than your previous game.

How many times has Ibrox been sold out this season? With a capacity of 10 less than us, and given you guys also struggle to fill your stadium, then you can't really comment on this either.

Jelle1880 · 04-03-2012 10:29pm

You're the one who brought up attendances, and then when I reply that you not only struggle to fill your stadium but have 15.000 empty seats, despite going for your first league trophy in 4 years 'I can't really comment' ?

bobbysands81 · 04-03-2012 10:45pm

Jelle1880 wrote: »

You're the one who brought up attendances, and then when I reply that you not only struggle to fill your stadium but have 15.000 empty seats, despite going for your first league trophy in 4 years 'I can't really comment' ?

That's all lovely.

Enjoy administration!

Jelle1880 · 04-03-2012 11:37pm

Summary of the RSA's meeting with the administrators:

SUMMARY OF A MEETING WITH THE ADMINISTRATORS ON SATURDAY 3 MARCH 2012

1. Details of cuts to meet the £1m shortfall will be announced on Monday - new investors unlikely to want to inherit the current cost base of the Club - hence the need to implement the cuts.
2. Liquidation is "unlikely" but can't be ruled out - a CVA far more preferable to liquidation as that puts at risk future European monies for a number of seasons.
3. Pursuing the whereabouts of funds - focussed on what was promised by Craig Whyte in the Takeover document - "highly unlikely" Craig Whyte would be involved in the Club going forward.
4. The contracts, security, legal charges and financing of the Craig Whyte takeover are all being challenged, however, any security Whyte has or had is not likely to be an impediment to a sale.
5. The £3.6m ring-fenced from Collier Bristow is subject to legal claims from other parties as well as Rangers FC Plc.
6. Good interest in acquiring the Club and criteria will be based on fully financing the acquisition and be able to sustain the business going forward.
7. Key role for the Administrators is to put the business in a good state for acquisition.
8. Big tax case not a key issue in the sense that liability will be part of the creditors share out - far example, if there is a pot of £20m to share out - each party will get a dividend whether the total liability is say £40 million or £100 million.
9. Best way of contributing finance at the moment is through match-day sales - tickets, hospitality, catering, etc.
10. Suspect that the Arsenal shares money is lodged in Pritchard Stockbrokers accounts - assets of that firm are now frozen by the FSA and it will require legal argument to recover.

bobbysands81 · 05-03-2012 2:21am

Jelle1880 wrote: »

Summary of the RSA's meeting with the administrators:

I asked questions previously on this thread but their consistently ignored.

How can you guys save £1m a month? That's £230,000 per week. That's 23 players getting paid £10k per week being let go.

Later today will be very interesting.

bobbysands81 · 05-03-2012 2:23am

Jelle1880 wrote: »

You're the one who brought up attendances, and then when I reply that you not only struggle to fill your stadium but have 15.000 empty seats, despite going for your first league trophy in 4 years 'I can't really comment' ?

Bigger crowds 11 of the last 12 years pal... says it all, you're going into administration, your club is dying, you haven't filled your stadium to capacity once this season yet this is the kind of thing you're arguing about?!

Fenian Army · 05-03-2012 2:28am

bobbysands81 wrote: »

Later today will be very interesting.

Jelle1880 · 05-03-2012 9:26am

bobbysands81 wrote: »

Bigger crowds 11 of the last 12 years pal... says it all, you're going into administration, your club is dying, you haven't filled your stadium to capacity once this season yet this is the kind of thing you're arguing about?!

You brought it up though, so don't give me that crap that I'm trying to shift the attention.

You're heading for the title and you can't even remotely fill yours, but I assume there's a reason for that too ?
What is it this time, Mother's Day ?
Carnival and fans dress up as green seats ?

As for the reason why nobody answered your question: Nobody knows.
Most likely it will include letting several players go, but as to who and how many: All speculation.

Hopefully we know more today.

ColeTrain · 05-03-2012 10:22am

Jelle1880 wrote: »

What is it this time, Mother's Day ?
Carnival and fans dress up as green seats ?

.

lol what are you on about?

Jelle1880 · 05-03-2012 10:44am

ColeTrain wrote: »

lol what are you on about?

It's a running joke on Rangers message boards every time Celtic have low attendances, if I recall it came from a Celtic fan on the radio once trying to explain it by saying that most fans were out celebrating Mother's Day

meriwether · 05-03-2012 11:19am

Jelle1880 wrote: »

It's a running joke on Rangers message boards every time Celtic have low attendances, if I recall it came from a Celtic fan on the radio once trying to explain it by saying that most fans were out celebrating Mother's Day

I doubt there'd be much of a dip attendances in either old firm ground on Fathers Day.

Pompey Magnus · 05-03-2012 1:18pm

The talk now is that there will be no redundancies made, just wage cuts.

bobmalooka · 05-03-2012 1:21pm

Pompey Magnus wrote: »

The talk now is that there will be no redundancies made, just wage cuts.

poor work by the administrators if true, Rangers arent going to be a feasible investment without the costbase being reduced

PauloMN · 05-03-2012 1:27pm

bobmalooka wrote: »

poor work by the administrators if true, Rangers arent going to be a feasible investment without the costbase being reduced

Poor work from what perspective? The administrators have to ensure that Rangers is a saleable club. They also have to save money. If they can do both without letting players go, that's bloody good work imo. Fair play to the players for accepting the cuts if true.

If the shoe were on the other foot, I'd be wanting Celtic administrators and the players to do exactly the same thing.

Jelle1880 · 05-03-2012 1:49pm

Pompey Magnus wrote: »

The talk now is that there will be no redundancies made, just wage cuts.

First I heard about that, where did you read it ?

Would be good if true though.

Pompey Magnus · 05-03-2012 2:04pm

Jelle1880 wrote: »

First I heard about that, where did you read it ?

Would be good if true though.

According to Graham Spiers on twitter. Apparently if it goes through it would be only a month long arrangement. The Administrators are real milking this process, 3 weeks gone and they have done very, very little. Even this deal would just mean the club won't add any futher debt, it wouldn't even start to pay off the creditors.

Dempsey · 05-03-2012 2:17pm

Those admins are proper useless!

Eirebear · 05-03-2012 2:26pm

http://www.bbc.co.uk/sport/0/football/17221172
Talk of a month long agreement.
(High earners taking a 75% cut, Mid earners 50%, Lower earners 25%)

Dempsey wrote: »

Those admins are proper useless!

Listening to people talk yesterday, there was a school of thought that Rangers are a more attractive proposition to buyers if they don't shed players - given that it will be more expensive to replace a number of players, rather than trim to fit when a new buyer comes in.

This would fit in with this month long agreement for two reasons.
A) The administrators had asked the other day for interested parties to get in contact by march 16th.

It keeps the squad intact for the Motherwell and Celtic games at the end of the month (Wether or not this is a good move, is up for debate!)

Jelle1880 · 05-03-2012 2:32pm

Paul Murray agreed with that, he said not letting any players go would be more itneresting to potential buyers.

Dempsey · 05-03-2012 2:52pm

3 weeks to come up with a month long wage reduction. Have they realised that Rangers is insolvent yet? :pac:

PauloMN · 05-03-2012 4:04pm

The begging bowl friendly lol..... ohh the dignity:
http://www.bbc.co.uk/sport/0/football/17260613

Eirebear · 05-03-2012 4:09pm

PauloMN wrote: »

The begging bowl friendly lol..... ohh the dignity:
http://www.bbc.co.uk/sport/0/football/17260613

Really don't see any issue with that tbh - 2 clubs who need all the cash they can get, helping eachother out with a friendly.

Certainly no lack of dignity from either club - unless of course it's undignified to try and work your way out of these problems?

Madam · 05-03-2012 4:18pm

Hmmmm! Where would the game be played - would Rangers fans(those who could afford it)go to Portsmouth or Portsmouth to Ibroke?

PauloMN · 05-03-2012 4:24pm

Eirebear wrote: »

Really don't see any issue with that tbh - 2 clubs who need all the cash they can get, helping eachother out with a friendly.

Certainly no lack of dignity from either club - unless of course it's undignified to try and work your way out of these problems?

You in serious mode today EB?

No issue with it at all. I'm just enjoying the swing from succulent lamb to begging bowl, that's all.

As for dignity, well that's questionable. It's certainly not as undignified as accepting charity I suppose.

Jelle1880 · 05-03-2012 4:26pm

Madam wrote: »

Hmmmm! Where would the game be played - would Rangers fans(those who could afford it)go to Portsmouth or Portsmouth to Ibroke?

'Those who could afford it' ?
We played them a while ago in a pre-season, thousands of Bears made the trip

I believe plans are in place to make it a two-game thing, one in Portsmouth, one in Glasgow.

And I don't think we have lessons to learn in dignity from 'Integrity FC'

Eirebear · 05-03-2012 4:28pm

PauloMN wrote: »

You in serious mode today EB?

No issue with it at all. I'm just enjoying the swing from succulent lamb to begging bowl, that's all.

As for dignity, well that's questionable. It's certainly not as undignified as accepting charity I suppose.

I'll admit - the whole situation has made me a little Bi-Polar!

PauloMN · 05-03-2012 4:36pm

Jelle1880 wrote: »

And I don't think we have lessons to learn in dignity from 'Integrity FC'

Too right you do, in the Finance Dept. among other places.

Dempsey · 05-03-2012 4:40pm

Jelle1880 wrote: »

'Those who could afford it' ?
We played them a while ago in a pre-season, thousands of Bears made the trip

I believe plans are in place to make it a two-game thing, one in Portsmouth, one in Glasgow.

And I don't think we have lessons to learn in dignity from 'Integrity FC'

Its that sort of thinking that has made you insolvent :pac:

KeithAFC · 05-03-2012 4:44pm

PauloMN wrote: »

The begging bowl friendly lol..... ohh the dignity:
http://www.bbc.co.uk/sport/0/football/17260613

Don't see the problem here. Unless I am missing something?

Jelle1880 · 05-03-2012 4:45pm

PauloMN wrote: »

Too right you do, in the Finance Dept. among other places.

Remind me, how big is your squad ?

PauloMN · 05-03-2012 4:56pm

Jelle1880 wrote: »

Remind me, how big is your squad ?

Needs to be big when we're still in three competitions.

PauloMN · 05-03-2012 4:59pm

KeithAFC wrote: »

Don't see the problem here. Unless I am missing something?

There's no problem Keith. Needs must and all that. It was a bit of banter - see my earlier reply to EB.

Or do you not do banter now either, along with not walking away?

bobbysands81 · 05-03-2012 5:20pm

Would be a great move for RFC if they could get a one month deal with the players.

Duff and Phelps are on the record as saying that any takeovers must happen by March 16th, keeping the players on the books makes Rangers a much better proposition and will mean less investment by whomever takes them over... if they're taken over.

However, if this date passes and nobody has taken them over then liquidation beckons and nothing's really been lost in offering the extra month.

However, I wonder what HMRC are making of all this. I'd say they ain't one bit happy.

bobbysands81 · 05-03-2012 5:21pm

Jelle1880 wrote: »

Remind me, how big is your squad ?

As big as a Champions squad needs to be!

Jelle1880 · 05-03-2012 5:29pm

bobbysands81 wrote: »

As big as a Champions squad needs to be!

The last 3 seasons would beg to differ.

Dempsey · 05-03-2012 5:41pm

Jelle1880 wrote: »

The last 3 seasons would beg to differ.

Those titles could be taken off ye yet!

Jelle1880 · 05-03-2012 5:43pm

Dempsey wrote: »

Those titles could be taken off ye yet!

You wish.

Rangers FC lodge papers to go into administration

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