http://scotlandonsunday.scotsman.com/football/Sale-of-Rangers-FC-39will.6650410.jp

 

Quote

Sale of Rangers FC 'will go ahead by mid-January'

 

Published Date: 05 December 2010

By Tom English

 

A DEAL to sell Rangers Football Club to Scots venture capitalist Craig Whyte will go though by the middle of January, according to senior sources at the club.

Whyte, 39, met with Ibrox chairman Alastair Johnston in Glasgow to discuss the purchase of Sir David Murray's shareholding in the club.

 

The proposed £33 million deal will wipe out the existing debt that has stymied Rangers in the transfer market for two years.

 

Yesterday, sources at Rangers said the deal, barring any late hitches, could be completed before Christmas but it is more likely that it will be done by the middle of January. "We can't say with 100 per cent certainty, but Whyte has the money and is very convincing. We think the deal will happen," said the source.

 

Murray has presided over Rangers for 22 years but has been keen to sell his stake for some time.

 

Hopefully the debt thing is not true as that is what is holding them back at the moment.

Craig Whyte getting a warm reception outside Iprix tonight:

 

http://sport.stv.tv/football/scottish-premier/rangers/297443-craig-whyte-addresses-angry-rangers-fans/

 

In case they do go out of business altogether, I thought I'd find some quotes from those whose lives they've touched:

 

Ian Archer;

 

"This has to be said about Rangers, as a Scottish Football club they are a permanent embarrassment and an occasional disgrace. This country would be a better place if Rangers did not exist."

 

Brian Clough;

 

Brian Clough: "What team did you say you support again?"

Man in the studio audience: "RANGERS!"

Brian Clough: "That's not a football team! That's a gang of villains."

 

Irvine welsh (may have known more than most considering this quote is from 1996  )

In every hick town in Caledonia across the pseudo nation, you can see the most fucked up scum who were shat into creation, where a blue McEwans's lager top equals an imagination.

"Think you're a success?

"Your's psyche's a mess.

"Your economy is in distress, you're HUN-believable!!!

 

Butch wilkins;

I'd just come from Italy and France which are catholic countries,very warm and friendly,and here I was in Glasgow with some of my team-mates [i.e. fellow Rangers players] hating catholics. I just couldn't understand it and frankly found it ridiculous.

 

El Mundo Deportivo Newspaper on Rangers after the Rangers game v Barcelona in the Nou Camp (Nov 07)

 

To the Rangers fans: "Stay and vomit in your own home, urinate in the corner of your own sitting room, fight with your own neighbours Celtic (who deserve a medal for putting up with you) and foul the streets of Glasgow. Don't come back to Barcelona, you're an embarrassment. And while we're at it, don't play in the Champions League. You're not up to scratch, either on a sporting or human level.

There are noisy supports who, even though they drink large quantities of beer, make friends. Not you lot, because you turn everywhere you go into dumps. You are undesirables.

 

 

Assistant Chief Constable Justine Curran, the match commander during Rangers' shame in the UEFA Cup Final

The people in that CCTV footage acted like a pack of wolves. Whatever happened earlier there was no excuse for this level of violence.

I've got the CD single of that Irvine Welsh/Primal Scream song.  Bit bizarre but amusing none the less.

I've got the CD single of that Irvine Welsh/Primal Scream song.  Bit bizarre but amusing none the less.

 

yeah, i got a promo of it back in the day. It's a bit gash.

 

CAPTIONZ PLZ.

 

Kevin McCarra @ The Guardian....

 

The collapse of Rangers is a remarkable event that still came as no shock at all. Even those unaware of the accounts could draw their own conclusions when the former owner Sir David Murray sold up for a quid in the summer of 2011. The club had been purchased by another businessman, Craig Whyte. It was the sort of sum paid to acquire a crisis and the Rangers tax case was noteworthy enough to lead to the formation of a website (rangerstaxcase.com) that covers the issue.

 

Whyte's logic in going ahead with the deal is a puzzle to the average person. But he has most likely calculated that Rangers could emerge from administration and make a fresh start, even if that would be unlikely to happen in time for the club to be allowed into European competition next season, should they qualify.

 

Rangers have still dealt very poorly with reality. When Celtic were on the verge of collapse in the 1990s, they were taken over by Fergus McCann, a hard-nosed fan of the club who had made his money in the United States. He rebuilt the stadium, filled it and sold up at a splendid profit. No one could have accused him of vanity. That is a charge, though, that will be levelled against Murray and perhaps Whyte.

 

The term Old Firm was invented as a jibe, since it pointed to the fact that, despite the hostility of each set of supporters to the other, the whole exercise generated money for clubs who were, in effect, business partners. There is nothing of that tone to be heard at present.

 

Peter Lawwell, the Celtic chief executive, knows how great the rage of the crowd would be if he sounded solicitous towards Rangers. Indeed he stated that his club did not need the other half of the Old Firm, although it is hard to see how Celtic's turnover could be sustained with no rival of comparable size. Lawwell has every right to emphasise how well his club has been run compared to the delusional approach that was bound to lead Rangers towards crisis. Each member of the Old Firm dreams of a move to the affluent Premier League, but leading English clubs see no cause for a course of action that would enrage Uefa, with its structure of national associations. Indeed, not even Rangers and Celtic could generate the sort of sums that would tempt them into a rebellion.

 

It was never clear just what Rangers had in mind. There was, perhaps, a period when Murray himself could afford to bring in marvellous talents such as Paul Gascoigne and Brian Laudrup when his own fortune reassured the bank. That could not go on indefinitely and, north of the border, clubs reconciled themselves to balancing the books, as many had probably done for many years.

 

Trophies appeal and Rangers have won many, but each potential case of administration in football should remind us that protecting a club in good condition for future generations is the greatest ambition of all. Murray, given his own part over so many years, and Whyte, have put Rangers in jeopardy.

 

It will be no consolation to supporters at this moment, but the debacle may lead to a new regime in which owners, shareholders and fans work in harmony. Rangers has to be remade as a club that lives within its means and no longer has HMRC as the most intimidating of opponents.

http://www.bbc.co.uk/news/uk-scotland-scotland-business-17021584

 

A stockbroking company which has Rangers owner Craig Whyte as board secretary has been banned from further trading by the financial regulator.

 

The Financial Services Authority has ruled that Pritchard Stockbrokers had used client money for its own expenses, "thereby putting client money at risk".

 

That means it "failed to comply with the proper standards and failed to act with integrity".

Yay! it made my day!!

I wonder if right now the pope is sitting in the Vatican singing "No Rangers of Glasgow"

stolen from elsewhere

 

The Scottish game is fucked already. I can't see how the vileness of Rangers being missing could possibly be a bad thing.

I lol'd when I heard and I'm still lolling about it now. 

 

Can't say I'm too fussed about them slipping down to Div 3.  I think I'd prefer to see them in our division struggling with the rest of us.

 

A more even distribution of cups, revenue, tv money and european positions awaits the other SPL teams.  How could that possibly be a bad thing?

WATP. We Are Totally Penniless.

Interesting article, bit long so won't post it all on here other than the last section:

 

http://scotslawthoughts.wordpress.com/2012/02/13/rangers-administration-cva-nae-chance/

 

Taking all the above into account, how likely is it that HMRC will approve a CVA for Rangers?

 

 

 

Put it this way, there is more chance of me winning the Olympic 100 metres than there is of HMRC going for this.

 

 

 

Some Rangers fans seem to be banking on the likelihood that a CVA might lead to HMRC getting more than in a liquidation. However, the “moral hazard” argument would prevent HMRC, even if it wanted to, from signing up to a “cosy deal” with Rangers. Otherwise any company in financial trouble would be able to bounce HMRC into accepting less tax than was due.

 

 

 

Therefore a CVA appears to be a forlorn hope for the Rangers board (consisting as it is of only Mr Whyte and Mr Ellis).

 

If the CVA fails, then Rangers would be headed at full speed towards liquidation, which I will address in a later post.

 

Most interesting thing I've read is the possibility (nae sure if it's true) that SPL clubs in administration no longer get a vote on league matters, and any issue that would have required an 11 out of 12 Yes vote would then only require a 10 out of 11 yes vote - eliminating the Old Firms hold on the important league matters for a period of time.

 

 

Credit where credit's due (scuse the pun) 

 

http://www.afc-chat.co.uk/

 

 

 

From the sun this morning

 

 

FFS fuck sake! RFC football club must be running out of media organisations to withdraw their cooperation from! 

Best text I ever had when I got the news.

 

Apparently on twitter trends or whatever it's called, simplythebust was all the rage.

 

Hope RFC ceases to exist and Craig Whyte gets all the blame. The only people who care enough to cast blame will be a particularly knuckle-dragging breed of disgusting hun, the most disgusting of all the sub-species. What goes round comes around.

 

 

 

With the suggestion that Administration happened now (rather than later) because Whyte would lose his preferred creditor status had HMRC won their Tax case. What's the likelihood that Whyte as a major creditor could force the Huns into liquidation, allowing someone to start-up "Glesga Huns Fitba Club" thus avoiding the HMRC case altogether?

 

Or is that a bit too Moon landings, to be likely?