Juancornetto

Maybe you're right....we'd be dying the death of a thousand cuts, ran by the bank and blundering from one mini-crisis to the next and still have the dark shadow of HMRC hangng over us and THEN go into administration. That better?

It will be more a case of asking players to accept lower wages "to help the club" than of getting rid of them. Say the wage bill is £5m per month, if you could knock £1m off that it's a lot of money. The fans support is crucial here as well, what team is on the park will be a direct reflection of the income generated in this period.

Withholding PAYE and NIC is the most common tactic of a business forcing itself into administration.....HMRC will always move for it where as ordinary creditors will not. Yes it's morally wrong and is technically theft but this is the way of business and in particular businesses who are in huge financial distress.

It depends on what you mean by hero. Is he in this because he loves Rangers and will sacrifice his own wealth and already damaged reputation to rescue us? No. Is he in this because he spotted an opportunity to purchase a massive business in distress that he has a personal interest in owning and transforming from bankrupt and massively in debt to a rejuvenated, restructured business making a tidy profit in the process? Yes. Make no mistake, without Craig Whyte we would be in Administration and at the mercy of HMRC without someone having separated assets from debts and giving us a chance of coming out the other side.

I have a feeling events in Court No 7 at The Court Of Session on Valentine's Day 2012 will go down in business folklore for years to come.

And not one shred of evidence to back up any one of those claims.

Would you pay someone £20m+ to take all the public criticism and accusations, wipe out Rangers debt and defeat HMRC to save our club? It's a yes from me. PS I'm not talking about Paul Murray here...

75% is the magic figure. If we can reach agreement with 75% of creditors then administration will be lifted and the Chairman will assume control again. This could leave a lot of people disappointed and out of pocket and that is likely to get a lot of publicity. I fully expect to see the papers full of sob stories and propaganda about people losing jobs etc. It is a sorry situation but I'm afraid it may be totally necessary, don't forget the state we were in before Craig Whyte made an appearance...Lloyds were in charge and by all accounts Administration was considered then.

Our aim is to be as close to Celtic as possible niow, 9pts or less of a gap and they will know they have been handed a title by default rather than any achievement of Lennon. The ones I've spoken to already bristle at the mention of it.

It might just take a crook to get Rangers out of this mess.

I joined at the beginning of the year and as has been said the speed and clarity of any information is pretty poor however, it's as good a platform as any to rally round at this point. If such a platform was free it would attract huge numbers and would give the best idea yet whether a fan's ownership scheme could work.

Been a long day guy's but I'm taking a well earned break from here and Twitter to spend some quality time with the Mrs. Bring on the steak and blowjob!

Strathlclyde Police have never even hinted that the game might be off, how can rumours of the opposite be factually correct? The same goes for season tickets, an assurance has been given that this season and next's season tickets will be safe and valid. It's scaremongering pure and simple.

Scaremongering started already? It will get worse and more scandalous chaps, apply a healthy dose of scepticism to doomsday statements.

Is there any need to be so dismissive and flippant of other guys views? There is no reason why both scenarios can't be true.

Court appointed Administrators would have been much more difficult to deal with. These guys will still chop costs and re-structure but with the benefit of the secured creditor in mind rather than suits from KPMG with a mission to liquidate us.

This is getting ugly...fast. Now talk of HMRC claiming we are insolvent and are trading illegally. Brace yourselves.

This is a crucial decision....our own Administrators (Duff and Phelps) will presumably have worked with CW before and therefore would be as pro-Whyte as they could be however if HMRC appoint administrators they will be less concerned with the secured creditor and more concerned with squeezing as much cash/assets out as possible for HMRC.

Nice touch speaking in the trophy room. I still think he could have been more bombastic in rousing the fans..encourage fans to come to games and make a defiant racket.

Looks like it Bluedell. Whyte has spooked them into action, we just have to hope that he has all the assets and debts separated in readiness for KPMG coming in.

http://www.rangerstv.tv/viewfree.php?it=10193&c=inside%20Ibrox&r=236678734985 Interesting video interview with Whyte.

Cosmology, Quantum Physics and Glasgow Rangers all in one thread. I love you guys.

As a slight diversion I thought it would be worth looking at the footballing consequences if we are indeed placed into the hands of administrators. The first thing I would like to clear up is what happens to our squad given that we are post Transfer window...so you would think that the squad we have now will be the one that we finish the season with, or will we? The answer is yes AND no. We can now see why Whyte was so keen to get contracts issued to the "marquee" players - McGregor, Whittaker, Davis and Lafferty. This makes them assets which hold a significant value and the administrator will want to yield a return if and when they are sold. This cannot happen out with a transfer window unless all of them go to Russia where the window is still open but this is unlikely. What is more likely is that these players will be asked to accept lower wages by an administrator in an effort to reduce running costs (pegged at £3.5m per month). The fringe and short term contract players however are a different story. This includes: Papac, Wykde, Aluko, Bocanegra, Edu McCullloch, Broadfoot, Healy, Little and possibly Goian. These players will also be asked to accept reduced wages, some will accept while others will refuse. The ones who refuse will be offered to terminate the contracts and accept a small settlement or will have their contracts terminated and become free agents. We are likely to see a lot of players coming out and giving "I feel let down by the club" statements and it will generally be pretty unpleasant. It has been suggested that some players who arrived in the summer or January have "administration clauses" in their contracts which would allow them to leave as free agents immediately. I hope this is not the case as we would find ourselves seeing out the season with 16 and 17 year old kids filling in the blanks. The youth players will not be immune from the cuts but some of them will find themselves in the first team to replace some of the above. This could yield an unexpected bonus further down the line...just look at Motherwell and the success rate of young players coming through post administration. Points wise we will be deducted 10 points immediately we enter administration and this currently puts us at 51 points, 10 clear Motherwell in 3rd. Unless we have exited admin by the summer all of our assets will be sold to raise cash for creditors. We could be looking at our entire first team being sold with no possibility of buying players to replace them. This would be disastrous for season 2012/13 and doubly so when you consider another 10pt deduction will be levied by the SPL. If the Chairman can steer us out of admin before then this can be avoided. Administration will have a lasting effect on the squad for years to come, we have all but conceded the league this season and unless we are out of admin by July we will be 10pts behind before a ball is kicked. The fans will be key to the on field performance in this period. If crowds drop cash flow will be squeezed and the administrators will be forced to inflict deeper cuts than if we continue to see 40k plus crowds. Any notion that money you put into Rangers now goes to administrators is completely false and potentially very damaging to our on and off field chances. None of this may be necessary and we may enter and exit very quickly, or even better not enter admin at all. One thing is for sure though...Rangers will not be Champions for a fourth consecutive season.

Pre emptive strike on an unsecured creditor. It's pretty clear now that HMRC were not just going to lose the case and give up there. I believe the phrase used was "appeal and appeal again". This way they have a choice....come to a judgement that won't be appealed and is acceptable to Rangers or get to the back of the queue and get what's left after the secured creditor has taken his settlement.

It's good to have cynics and doubters but I've yet to see one coherent theory from them about how Craig Whyte is going to run off into the sunset with millions of pounds and leave Rangers bankrupt and liquidated. It just doesn't make sense. Rangers is the one business that I think he wants to "turn round" for is own benefit. The two are not mutually exclusive.