Frankie

NN posted this:

Administrators Press Conference - live at 3.30pm http://sport.stv.tv/football/scottish-premier/rangers/297787-live-coverage-rangers-administration-press-conference/

From FF - an interesting blog post surrounding a similarly bad financial problems we faced in 1882: - The man who saved the Rangers http://blog.thegallantpioneers.co.uk/wp/?p=226

I think it comes down to the overall %age of the creditor debt HMRC have. If it's below 25% then they can't stop the CVA. If it's more, then liquidation is more likely. As cal says, I doubt we'll come out of administration until the tax verdict is known.

Welcome to the forums mate!

Yes, administrators are having another press conference at 3.30pm.

Haha - good stuff guys!

Agree wholeheartedly mate. Like you say, PM et al will now be looking to use the support to make hay themselves. I'm happy to look into what they offer but there must be a quid pro quo.

A great summation of events. As said elsewhere the fans must now demand to be part of any future board do the shameful events above can never happen again.

'In the middle of difficulty lies opportunity' - Albert Enstein After a few days of panic, negativity and speculation, I think it's time to be a bit more positive about our club's future. First of all though, let's not beat about the bush, the situation we find our club in is a deeply concerning one. Indeed, since Rangers was formed 140 years ago, there has perhaps not been a time where the very future of the club has been under threat like it is now. Sure, our club has had it's fair share of tragedy which puts financial worries in perspective, but the club has never really been close to ceasing to exist. This means we are in uncharted waters so the utmost care has to be taken to navigate our way out of trouble. The problem is do we really have a captain skilled enough to do this? After all, since the tail end of the 1990s, the club has been in debt and it seems some found dubious tax practices and misleading the support was the best way to minimise this debt while remaining competitive on the field. A risky (or even illegal?) strategy which has now caught up with us in real style. So much so that the most embarrassing episode in the club's history is now a living nightmare for any Rangers minded person. Of course we can play the blame game and we'd be entitled to. (Sir) David Murray may have impressed the majority of our support with his grandiose proclamations at the turn of the century but it's now just a matter of time before his real cowardly legacy is laid bare for everyone to see. To risk our proud club's long term future for the sake of a less than honourable tax scheme was not only a stupid gamble but has now become unforgivable (win or lose the outstanding tribunals). Instead of Murray Park being truly a place his contribution could be remembered forever, the quicker the name on the gate is changed, the better. Whyte won't be the name of choice though. Since the current owner assumed control last May, he and the club have stumbled from one controversy to the next. It's no longer debatable that administration (and perhaps pre-pack liquidation) was always his strategy for 'turning round' the company but the manner in which he has went about his business has now become beyond unpalatable for many fans. Be it hiding his 'colourful' past from the support to outright lying to our faces, Whyte's strategy may ultimately be a successful one (preferred creditor, debts removed, new club starting afresh) but, patsy or not, the shorter the period this guy is associated with Rangers, the better. Obviously I could spend all day castigating others who have contributed to this unsightly saga but we now have to try and look forward instead of back. Unfortunately, the problem of a suitable leader remains. Paul Murray et al may be saying the right things but his own part in the club's recent history is open to debate. Similarly, there may be other interested buyers but can we really trust these people to look after the best interests of the club? For too long the Rangers support have been (often all too willingly it must be said) used and abused by those in control. Upwards of 35,000 season ticket holders a season for the last 20+ years and a long history of devotion and loyalty means the fans are the club. But we have minimal say in its direction. Yes, we want (nay demand) regular success. Yes, we can be fickle and unrealistic. Yes, some will not accept the era of spending £10million+ in transfer windows is long gone. But for those faults our commitment remains an unmatched constant throughout. Yet we have a minimal input into where our money goes. That must change. For what it's worth, I'm unsure how well fan ownership would work. I support the idea in principle and such schemes have worked positively in a variety of sports and countries. Be it Barcelona or the Green Bay Packers, community-based membership trusts can own and run clubs effectively. Scottish football may not hold the same sway as La Liga or the NFL but the sheer scale of the Rangers support means the avenue must be explored as a way of offering something agreeable for the future. Unfortunately, this is easier said than done. Currently it's Groundhog Day in the press with fan reps and potential buyers eager to point towards fan ownership. We heard all this last year when the club was up for sale then. Has more work gone into investigating if such ideas can really work or are they just appropriate sound-bite comfort blankets in a time of fear? Let's be frank. To avoid the same mistakes being made again, the Rangers support must demand to be part of any future club board. The most credible way of doing this is by working together to prove we're not just capable of it in a practical skills sense but financially as well. As such, while this remains a great time of difficulty for the club, there does indeed lie a great opportunity. We should not under-estimate what our ourselves and our club are capable of. Yes, this is a period of huge uncertainty but if we work together and put our differences aside then we really can maintain the ambitions and success we've always had. We're fond of using the phrase 'We are the people'. There has never been a better time to justify it.

Releasing Aluko in particular would be madness. I'm sure we could manage without Papac and Bartley but would prefer we kept Healy.

I still don't know but I'd be looking for a more suitable person(s) to be custodian of Rangers.

I'd imagine it was related to this where the members of the scheme didn't receive their investment back: http://www.bbc.co.uk/news/business-11466272 http://www.mcr.uk.com/48788/crown-currency-exchange-limited.html

I harbour doubts about Murray but certainly agree with his comments. I look forward to hearing more from him and the Trust.

I'd like to speak plainly here. If Paul Murray (or anyone else) wants to take over Rangers Football Club, then he should stand up and say so (which he's done); offer up his alternative (which he hasn't) and meet with our supporters to explain his vision (which he also hasn't). I enjoy reading (and posting) rumours as much as the next bear but we're beyond nudges and winks. We need clear decisive action from any interested parties - anything else just points to another inadequate solution.

Rangers FC owe the tax.

Either everything is going to perfectly to plan for Whyte or our club as we know it will be flushed down the pan. There is no middle ground. I won't be drinking champagne for a wee while yet.

Of course but if, as expected, he wants fans to buy into his proposal then he'll need to show us why he (and his plan) can offer the club a future.

Murray's 'Blue Knight' plan is as valid as anything else with club struggling so badly. However, he lacks credibility amongst many fans so will have to go a long way to prove his scheme is worth buying into.

The Rangers Joint Action Group is such a vehicle. Again, like the Trust, I'd hope there is genuine progress in terms of what it can achieve during such difficult times. It's certainly not a time for people to say this person or that group are unsuitable. However, everyone has to prove their credentials.

The Trust have to be very careful where money is concerned mate so I'm glad they're clarifying the £10 is for a membership only - no share offered either nowadays. It's not a huge amount of money but they have to offer good value nonetheless. To be fair, they've been active in the media of late and have said all the right things so fans can make up their own mind about how important they are. Hopefully they can make some big steps forward over the coming weeks.

I think it is right that the Trust are looking to deliver clarity during this important time. In saying that, it's difficult to advocate joining them as I'm not sure they've done a great job in recent years but they've certainly been a bit more vocal recently. Administration was always probable so hopefully they've got a plan ready for this eventuality. Once they reveal details of that and how the mainstream support can help, then it would definitely be worth your consideration. As an aside, I'm told there is growing interest for a consortium led bid for the club (not via Paul Murray either) with direct fan involvement so we'll see what comes of that also.

Nice to see you mate...

EDIT: What did Traynor say?

Yes: Further Duff et al admin info : Paul Clark Bio: http://www.mcr.uk.com/person.html?id=42 David Whitehouse Bio: http://www.mcr.uk.com/person.html?id=17