Soccer

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Rangers FC have taken the first steps towards administration...

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966
(link to full article)

Rangers Football Club has lodged legal papers signalling its intention to go into administration.

The Ibrox club lodged papers at the Court of Session in Edinburgh on Monday, notifying an intention to declare an administrator.

It now has five days to confirm whether administrators have been appointed to take over the running of the club.

The moves comes while Rangers awaits a tax tribunal decision over a disputed bill plus penalties totalling £49m...

Regards
JAS

JAS wrote:Rangers FC have taken the first steps towards administration...

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966
(link to full article)

Rangers Football Club has lodged legal papers signalling its intention to go into administration.

The Ibrox club lodged papers at the Court of Session in Edinburgh on Monday, notifying an intention to declare an administrator.

It now has five days to confirm whether administrators have been appointed to take over the running of the club.

The moves comes while Rangers awaits a tax tribunal decision over a disputed bill plus penalties totalling £49m...

Regards
JAS

Shocking news for such a big club. And a disputed Tax bill of £49m.....how can alledgedly owe so much before the taxman steps in.

Asked how, as England Manager, he'd handle the Euro's, Harry Redknapp siad he'd be fine as long as they were used and in unmarked bills

Manchester United's dressing room minutes before kick off against Liverpool

"Right I want 110% effort from the word go against this scouse shower of shite. Remember the bastards did us in the F.A Cup. If you don't win, Chelsea will close the gap on us. Now I don't care if you kick, punch or head- butt your way to victory, you must win this. Good luck."

Then Sir Alex walks in and says, "Thanks ref, I'll take it from here."

Bobby Charlton was a guest of Roberto Mancini at the Etihad Stadium last weekend.
In the hospitality lounge after the game, Mancini asked Bobby "How do u think the current city team would fair against the United team of 1968." Charlton replied, "I think it would be a close run thing, maybe a draw" Mancini walks away feeling pleased with himself, when Charlton shouted back across the room... "Mind you, we haven't trained in 30 years!"

Rangers are set to go into administration
Subject to a trail they owe the taxman £49m.
The debt relates to how they paid foreign players, mostly about payments into offshore accounts.

The club claim going into administration as a way of securing it's long term future.
We can assume (rightly or wrongly) that the club intends to use the administration to get around paying the tax debt.

Looking from afar, that seems worrying. Aren't they the biggest club in Scotland?

Is the Scottish League in some trouble.? It seems to be just a Rangers/Celtic championship race for decades?

Go Morton!!!

redandblack wrote:Looking from afar, that seems worrying. Aren't they the biggest club in Scotland?

Is the Scottish League in some trouble.? It seems to be just a Rangers/Celtic championship race for decades?

Go Morton!!!

I'm afraid I can't help you there R&B...I actually hate soccer with a passion so only posted it as fyi.

There is a lot more info now on the BBC sports site including Q&A about what going into Administration will actually involve etc...

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17018226

Regards
JAS

redandblack wrote:Looking from afar, that seems worrying. Aren't they the biggest club in Scotland?

Is the Scottish League in some trouble.? It seems to be just a Rangers/Celtic championship race for decades?

Go Morton!!!

Yes they are R&B. I think the HMRC wanted to file for administration to take control but the courts have apprently accepted Rangers papers, so the club will go into voluntary administration. This gives them a bit more control over the out come.

HMRC are demanding £79m, steaming from player payments into overseas bank accounts.

They are huge, and going into administration will probably save their bacon. The pheonix club will have no problems with finance, and losing 10 points will mean they have to wait until next year to take the title again but they will still finish 2nd at worst, and by a country mile.

Whilst likely to survive in the long term things ain't looking any better for Rangers...

http://www.bbc.co.uk/news/uk-scotland-17146506
(link to full article)

Rangers' tax bill is much greater than the £9m that forced the club into administration, BBC Scotland understands.

HMRC documents suggest it owes more than £13m and the bill could rise to £15m by the end of the month.

In separate developments, Rangers Director of Football Gordon Smith and the Chief Operating Officer Ali Russell have left the club.

And police have said they have been handed documents by the administrators...

...BBC Scotland also understands Rangers are unlikely to be out of administration in time to be eligible to play in European football next season.

The club need to lodge audited accounts and other financial statements by 31 March to compete.

But administrators appointed by the club hold out little hope its finances can be sorted out by that deadline.

Regards
JAS

Things looking even darker for Rangers fans...

http://www.bbc.co.uk/sport/0/football/17283440
(linked page likely to be updated as more news to follow)

Rangers director Dave King fears the club will not exit administration and that liquidation is "inevitable".

In a statement, King said the club's owner Craig Whyte has "abused the loyalty of fans" by mortgaging future sales of tickets to Ticketus.

King also claims that Sir David Murray had no knowledge that proof of funds supplied by Whyte to purchase the club was secured by season ticket sales.

Regards
JAS

Rangers players agree to take a pay cut on the proviso that no full time employees of the club are made redundant

A very sad time indeed. Mrs HTWWW and myself are huge Rangers fans, and whilst what is happening is tragic, the truth is, the writing has been on the wall for some time for this great club.

I do no want to see this club be shut down at all. I would hope we could recover enough funds to start up again in the 2nd or 3rd division and work our way back.

This scenarios has happened many times in Italy with some big name clubs in the last decade, namely Napoli and Fiorentina, who were both dropped to Serie C (3rd div) after financial trouble. Only one Serie A club disbanded (Treviso) in recent seasons.

It seems that if you have historically been a big club, you should get out of this situation OK. But as many point out, the SPL isn't huge and Rangers can't rely on the revenue that the smaller clubs, like St Mirren for example, generate to keep them afloat. Rangers and Celtic are what keep the SPL going.

Looks like The Blue Knights could be on the verge of saving them...

http://www.bbc.co.uk/sport/0/football/17301939

Former Rangers director Paul Murray has confirmed that his "Blue Knights" consortium is finalising an offer to buy the club.

Ticketus, who advanced money to Rangers in return for several seasons' worth of ticket sales, are part of the consortium along with fans' groups.

...and it looks like Mr Whyte isn't a very lucky bloke to have around...

http://www.bbc.co.uk/news/uk-scotland-scotland-business-17314070

The stockbroking firm where Rangers owner Craig Whyte was company secretary has been forced into administration.

Pritchards, based in Bournemouth, was banned from further trading five days before Rangers went into administration.

Regards
JAS

Liverpool beat Everton 3-0 tonight in the Merseyside derby with Gerrard scoring a hat trick

Meanwhile in the East Midlands derby Derby County beat Nottm Forest 1-0 with the goal coming in the 94th minute after Forest had a player sent off in the 92nd minute

It's always great to beat Everton.

Chelsea through to the qtr finals of the Champions League after coming from 3-1 down in the 1st leg to Napoli. The old guard of Terry, Drogba and Lampard got them back into the tie at Stamford Bridge, and went on to 4-1 after extra time.

It's the 9th consecutive year that Chelsea have reached the qtr finals of Europes' premier club competition although they have never won it and only reached the final once.

Bobbafet wrote:Chelsea through to the qtr finals of the Champions League after coming from 3-1 down in the 1st leg to Napoli. The old guard of Terry, Drogba and Lampard got them back into the tie at Stamford Bridge, and went on to 4-1 after extra time.

It's the 9th consecutive year that Chelsea have reached the qtr finals of Europes' premier club competition although they have never won it and only reached the final once.

In which John Terry cried like a baby

He's an emotional kinda guy

Latest news on the tragic collapse of Fabrice Muamba during the Spurs v Bolton game yesterday...

http://www.bbc.co.uk/sport/0/football/17419654
(link to full article)

Bolton Wanderers midfielder Fabrice Muamba faces a crucial 24 hours in his fight for life, manager Owen Coyle has said.

The 23-year-old remains critically ill after collapsing during an FA Cup quarter-final tie against Tottenham.

He is being treated in the intensive care unit of the heart attack centre at the London Chest Hospital...

Regards
JAS

Been on the news over here JAS, pretty intense footage.

Gingernuts wrote:Been on the news over here JAS, pretty intense footage.

A statement giving an update on his condition is expected later this morning according to the news channels. Currently about 9:20am here so that'll probably be in the next couple of hours.

Regards
JAS
*edit* apparently the update has now been put back until at least this evening according to the BBC News Channel.

Latest news is that Muamba is 'stable' but still in a critical condition. Probably not a huge improvement but an improvement none-the-less. Can only hope it continues for him and his family.

Good to see one scumbag getting swift justice...
http://www.bbc.co.uk/news/uk-wales-17434587

Regards
JAS

Big improvement for him is that his heart is beating without medical assistance now.

2 hours is a bloody long time to go with your heart stopped. I guess only time will tell how it affected his brain.