Glasgow Rangers enter Administration

[spud_gun]

So you are saying the assets do not include the history, nor past trophies?

The entity which won those trophies will no longer exist by the end of this week.

[Buzzo]

The next question will be should Rangers be stripped of trophies and titles?
We may have to wait a while, but based on the Big Tax case, I feel the punishment they deserve to receive has to be more than liquidation.
They have been cheating for the best part of 20 years, the arrogance shown by some of the Rangers as a club and some of the support is staggering, they have been caught out. Let them begin life in the 3rd division.

[Buzzo]

Not true. Rangers in it's current guise will be no more.

There will no doubt be a new co. Rangers formed and they'll play at Ibrox but they won't be the same club. The history, trophies etc will belong to the club that's being liquidated.

It's lunatic-tastic up in Glasgow at the moment with all the Rangers fans blaming everyone and everything but their own club and it's previous owners for their demise.

I feel sorry for the silent majority of Rangers fans in this situation, as i would any club in this situation, but there is a very vocal minority who're being out and out cunts over the entire affair so **** them.

[Daniel 7]

I hate the Old Firm

Let them start over in Division 3, and take ****ing Celtic with them.

[Buzzo]

Haha. They did their usual trick of buying him and not playing him as well didn't they? No doubt Snelders head was turned when he was offered a handsome pot of gold through the totally legal *cough*offshore trust fund*cough* they set up for all their new signings over the last 20 years.

[red g]

So you are saying the assets do not include the history, nor past trophies?

I suppose they could buy any old trophies in there Trophy cabinet from the Liquidators.

But newco can't claim to have won them

[Exiled_red]

How does this new co thing work? It sounds like a scam to avoid paying their creditors, from what I've heard it seems there will be the same players, the same ground they will (probably) still be in the SPL the only difference is they will be called something slightly different and will be legally seperate. Am I missing something?

[Neil Young]

How does this new co thing work? It sounds like a scam to avoid paying their creditors, from what I've heard it seems there will be the same players, the same ground they will (probably) still be in the SPL the only difference is they will be called something slightly different and will be legally seperate. Am I missing something?

It is a scam.

It's because of limited liability. Any company can go out of business owning millions and then set up next day debt free. (Obviously it's slightly more complicated in reality but that's the basic principle.)

You can't do it. I can't do it. But companies can do it.

Anyone might think business people have privileges in this society denied to everyone else.

And these c*nts choose to lecture us all over what we should all do and how we should give them all tax breaks.



Where was I? Oh yeah, Rangers. I agree - f*ck 'em.

[Buzzo]

It is a scam.

It's because of limited liability. Any company can go out of business owning millions and then set up next day debt free. (Obviously it's slightly more complicated in reality but that's the basic principle.)

You can't do it. I can't do it. But companies can do it.

Anyone might think business people have privileges in this society denied to everyone else.

And these c*nts choose to lecture us all over what we should all do and how we should give them all tax breaks.



Where was I? Oh yeah, Rangers. I agree - f*ck 'em.

This happens all the time in the industry I work in and it is a disgrace. Oft referred to as Pheonixing, essentially companies are doing this in their droves every day, shedding debt by liquidizing only to start up again the following day under a new guise. Rangers are just a high profile example of what has become acceptable business practice.

I cannot believe the quotes from Charles Green, who seems incredulous that anyone would not want to take the CVA (9p in the £). Of course he wants it to happen, he has the possibility of picking up Rangers for £5.5m, shedding all its creditors and starting the club over. With its global fanbase he could see a return on his investment within a few years IF creditors take the CVA, and the SFA and FIFA allow them back into the SPL. That is why it should not be allowed to happen.

**** them, let them burn.

[dom9]

**** them indeed.

[Exiled_red]

It is a scam.

It's because of limited liability. Any company can go out of business owning millions and then set up next day debt free. (Obviously it's slightly more complicated in reality but that's the basic principle.)

You can't do it. I can't do it. But companies can do it.

Anyone might think business people have privileges in this society denied to everyone else.

And these c*nts choose to lecture us all over what we should all do and how we should give them all tax breaks.



Where was I? Oh yeah, Rangers. I agree - f*ck 'em.

That's what I'm thinking. There are programmes on TV about rogue traders doing this sort of stuff out and there's outrage, when a football club does it no one says a word.

[sean_lfc]

I hope they get arseraped. And then I hope that Celtic get really ****ing bored winning it every single year and that that whole football goes to ****. Its a ****e ****ing league anyway. /me takes another BIG swig ehjehejhejehejeh

[Fivex]

So in theory is it possible for City or Chav's owners to pull out, leaving all of their outstanding transfer payments and other debt written off?

[Chazza]

Sounds like McCoist is going to jack it in

[Buzzo]

Sounds like McCoist is going to jack it in

He should. He was given the job at easily the worst moment in the clubs history as everyone else abandoned ship, certainly none of this is his fault, and he has handled himself reasonably well throughout.