chilledbear

Nor should we forget the Supporters who owned shares. Many of which had been handed down, from father to son etc. They were worth a lot more than just the monetary value.

http://t.co/clRn4Pjt So many of the decisions made in the past eight months were shaped by the assumption that the Ibrox club was guilty of mis-administering a tax avoidance scheme on such a grand scale that some people were emboldened to demand that the five league titles won during the club's use of Employee Benefit Trusts should be stripped away. Rangers were accused of spending money they could not afford, of not paying taxes due on the EBT payments from 2000 to 2010, and of player registration breaches, so that the club became vilified. The FTT verdict has turned most of those assumptions back around again. Questions arise about so many aspects of the club's move into administration then liquidation that Paul Murray, the former Ibrox director, has called for a full inquiry. That will take place, since the liquidators, BDO, have full powers to investigate every aspect of the club and the events that consumed it, reaching right back to Donald Muir joining the board and the chain of events that led to Craig Whyte buying the club from Sir David Murray for £1, while paying the £18m owed to Lloyds Bank with money that he turned out to have borrowed against season ticket sales from Ticketus. David Murray has always denied that he was forced to sell the club to Whyte, but others believe that Lloyds were keen to offload the club. The result of the big tax case remains a deeply significant moment, though, even if there is no material effect on the club, since it is now owned by The Rangers Football Club, which was formerly known as Sevco. Last summer, an early draft of the five-way agreement among the SPL, the SFL, the SFA, oldco Rangers and newco Rangers included the club having to agree to titles being stripped, which Ally McCoist and the directors refused to accept. In light of the FTT verdict, that seems a prejudicial stance for the SPL to have taken, and has rightly prompted anger among Rangers supporters about the independent commission which is to sit early in the new year and judge whether or not the way the club administered the EBTs constitute a breach in player registrations. The commission has, in theory, 18 possible sanctions to choose from if Rangers were to be found guilty, but the club was asked in the summer to accept title stripping, the severest punishment of all. The fact that the FTT ruled that the EBT payments were discretionary loans would point to Rangers being found not to have breached registration rules, but some EBTs were due tax and so there is still no clarity. There are other issues raised, though. Administrators Duff & Phelps admitted Her Majesty's Revenue and Customs on to the creditors' list for the full potential amount of the disputed tax bill, penalties and interest, a figure they estimated at around £75m, before increasing that valuation for the final creditors' report to around £90m. This essentially allowed HMRC to rule on the Company Voluntary Arrangement vote, since they held the majority of the debt, and the tax man rejected the proposal, sending Rangers oldco into liquidation. Yet an experienced insolvency practitioner has told Herald Sport that his view was that "HMRC should have been admitted to vote on the token sum of £1, although in due course they would have ranked for payment in whatever full sum was decided upon by the FTT". This would have left the fate of Rangers oldco in the hands of Ticketus, the other major creditor, who voted in favour of a CVA. In the investigation that follows, it is likely that the work of Whyte and Duff & Phelps will come under the closest scrutiny. Given the cost of the insolvency process, the cost of SPL, SFA, UEFA proceedings and costs related to the SFL application, the losses to creditors, the losses to shareholders, the losses to debenture holders, the loss of transfer fees through players leaving as free agents, the loss of future SPL revenues, the loss of European revenues, and the loss of reputation, the entire process has cost significantly more than £50m. Yet it ought to have been avoidable, and legitimate questions can be asked why it took the FTT so long to come to a judgment on the big tax case, and why HMRC allowed Whyte to remain in charge of Rangers for so long while not paying PAYE. Supporters of the Ibrox club can take comfort from the FTT decision, but it also raises a number of serious questions.

What I noticed was the camera work. The wide shots showing the smiles as Speirs was squirming. Not the usual close-ups of the speaker ,as if they were planned.

Amazing how good it is just hearing someone tell the truth.

Traynor just been on Radio Scotland. "some people in my industry built themselves into a frenzy" and when it was suggested that nothing has been proven and that we need to wait they would say "no no, it's rangers, they're guilty, they're tax dodgers, they're cheats" "at the time it seemed everyone in the media in scotland were competing to make the most scathing tweet, or write a more scathing article than the last one" "One or two in BBC should be ashamed" two foreign groups that wanted to buy Rangers before Whyte but 'were scared off by the fact that the £50m EBT debt was fast becoming fact' in the media and beyond.

To the Club or not, you have to look after your own money.

http://t.co/hc4cE3ED RANGERS have had many massive triumphs in their time, especially the 3-2 win over Moscow Dynamo in the 1972 European Cup Winnersâ?? Cup final. But yesterdayâ??s result will surely go down as the most significant in their history. It wasnâ??t even played out on a pitch. This victory came inside a stuffy office somewhere along Edinburghâ??s George Street. But even though no one kicked a ball, Rangersâ?? 2-1 win in the First Tier Tax Tribunal represents one of their greatest successes. And it should bring an end to one of the longest and, given the behaviour of so many mean spirited and malicious individuals, certainly one of the most shameful tax cases in Scottish history. Murray Group Holdings and Others were contesting a potential tax liability of £87million (made up mostly of penalties) and if there is to be a bill it will come to no more than £2m but probably even less. This will be in combined penalties against individuals who may be guilty of minor breaches of technicalities. But the point is Rangers were brought to their knees by a debt which was never real. And they became victims of a case which should not have been allowed to run in the first place. Long and complex, it has cost something like £5m in legal fees. But at the end of it all there remains one unanswered question: Why? What was the point and what were the real motives behind the zeal with which some in HMRC, and the media, tackled this case? This is not to say the Revenue shouldnâ??t try to reclaim money when they believe itâ??s due. It must be stressed they should but there are aspects of this case which deserve to be scrutinised closely and perhaps they will, if some of them people denigrated and wronged decide to take legal action. This case has been about money but there has been a greater cost. There has been a heavy human cost, too. Innocents, Rangers fans, for instance, have been damaged and so have former directors, especially Martin Bain. And what was his crime? He inherited the EBT controversy but managed to hold his club together at a time when it seemed the entire country was pounding at the red facade of Ibrox. But there was no gratitude. Bain, and others, were wrongly accused of malpractice. They, Rangers, were all guilty. Fact. Their persecutors, an alarming number of other clubs and their fans, should be hiding in shame this morning, or breaking cover only to apologise. Fat chance. Blind hatred and poison has saturated this case which could actually have paid off for HMRC. They were offered £10m two years ago to settle but refused, probably because they wanted a trophy win to set a precedent which would allow them to pursue hundreds of other companies for untold millions. But they failed. Yesterday two of the three judges ruled Rangersâ?? EBT system was a form of loans and not taxable after all. And yet, because the tax man insisted Rangers owed them £50m, a catastrophic chain of events then unfolded. No one wanted to touch a club with a potential bill of that size hanging over them and eventually Rangers fell into the wrong hands, the hands of a man who really didnâ??t pay tax and who then caused one of Europeâ??s biggest clubs to slide into liquidation. But letâ??s be clear on this, the Revenueâ??s demand for payment, which it has now been declared invalid, started Rangersâ?? slide towards the precipice. Companies who sell cups of coffee and mobile phones can escape payments for hundreds of millions but Rangers? No chance. They were chased and backed into a corner for piddling amounts by comparison. Amounts they didnâ??t even owe. Of course David Murray is responsible for selling but he was being pressed by a bank, who wanted rid of the club. They didnâ??t like the bad publicity their squeezing of Rangers attracted and Donald Muir, their man on the Ibrox board, wasnâ??t about to let Craig Whyteâ??s offer pass by. The rest is history but it is a bitter and twisted chapter in a story which shines a light on a side of this country which should embarrass us. So many people wanted Rangers shut, or at least cut down and now they know there was nothing illegal in what was done with EBT payments they should take a good look at themselves. Sadly, they just wanted to believe Rangers were guilty and it became popular belief that this lot really did owe almost £90m in tax. People spoke matter of factly about Rangers being tax cheats and there was such a groundswell against the club few were willing to give them the benefit of the doubt. The facts were trampled as the crowds rushed to dance on Rangersâ?? grave. Even people who should have known better were swept along in the rush to accuse and condemn Rangers or anyone who dared say, â??hold on, shouldnâ??t we wait until the real financial experts rule.â?? But now we all know the truth, although we havenâ??t a clue as to the identities of those at the centre of this sorry saga. Bizarrely an anonymised form of the tribunalâ??s ruling was published yesterday revealing that evidence had been delivered by Mr Red, Mr Purple, Mr Turquoise, Mr Yellow, Mrs Scarlet and other colourful people. Neither Quentin Tarantino nor the makers of Cluedo could have done a better job of disguising characters yet the identities of those who had received loans in the form of EBT while at Rangers were leaked routinely to journalists and bloggers. But the Revenue didnâ??t want the names of any of their people out in there in the public domain. Why? Because weâ??d then know who had rejected the £10m? Or was it felt they had to be protected for other reasons? But there are names on various emails and documents in circulation and maybe one day soon there will be greater transparency as a case which has brought so much strife to the game is finally put to rest. We can argue until the end of time about whether the Rangers in question still exist or whether the history with all its glories, defeats, highs and lows remains intact. But one crucial truth cannot and should not be lost. Rangers, we know, were stricken, taken down by a fantasy tax bill. They were declared guilty before trial. Rangers, as a brand, was tarnished because HMRC said they owed tax on EBT payments which the club had always argued were loans. Yesterday two of the three judges agreed. So HMRC, who had insisted an initial tax and National Insurance bill of £37m, which climbed to £87m, be paid, were left with nothing. They say theyâ??ll appeal but it could be argued theyâ??ve caused more than enough damage. Besides, even if theyâ??d won their case yesterday they still wouldnâ??t have got anything out of the Rangers they had pursued. They were forced into liquidation, remember. And the real bottom line in all of this? Rangersâ?? closure was all so unnecessary and the turmoil and upheaval caused could have been avoided. Despite accusations Rangers did nothing wrong. Pity the same canâ??t be said of all those self-proclaimed experts, bloggers and journalists. Rangers will be clobbered they had said. The verdict will be damning. Rangers will be shown up as cheats, they squealed. Itâ??s clear now who the guilty parties are and Rangers are not among them.

Benitez Evs Guardiola 2/1 'arry 4/1

http://www.bbc.co.uk/sport/0/ Manager Roberto Di Matteo has parted company with Chelsea, the club has announced.

http://t.co/TKQVsYK7

I wonder how the interest will be paid?

Someone help with this. Recently there was Statement /Press Release/Report. In it Duff & Duffer had us down as in debt to HMRC at around £94m. Am I correct or wrong in this?

What was the verdict :surprised:

CG keeps emphasising 'no external debt', so who do we actally owe money too?

Elgin City Football Club are delighted to welcome Rangers Football Club for the Scottish League 3 Football match at Borough Briggs Stadium on Sunday 25th November 2012. Elgin City have been working very closely with Grampian Police and Rangers to provide ensure that the fans attending the game enjoy themselves. Club Director and Safety Officer Martyn Hunter said, " A lot of planning and preparation has gone into this match and it is an opportunity for the people of Elgin to welcome the Rangers Football Club and their fans to the town. Elgin is a friendly town and we hope that the fans experience this. The 4520 tickets have sold out and the stadium will be at its capacity for the first time in many years and it should be a great football occasion with both teams sitting at the top of the league." Grampian Police Divisional Commander Superintendent Mark Cooper who will be Match Commander on the day said, " The fans of Rangers Football Club are amongst the very best behaved in the country and this is a great opportunity for the people in Elgin and across Moray to showcase the area. The away fans will arrive in numbers with most expected to arrive by bus." All away buses will be parking in the overspill car park at the Moray Leisure Centre and all drivers are asked to arrive there in sufficient time and to enter via Haugh Road. All fans are asked to arrive at the ground early and would remind all fans that the match is all ticket and that there will be no cash turnstiles. Superintendent Cooper reminded all fans to behave responsibly. "A small minority of fans are likely to arrive at the ground under the influence of alcohol. Such persons will not be admitted entry and I would remind the fans that local alcohol drinking in public Bye Laws will be enforced on the day. We will be supporting the stewards to ensure that no one enters the Stadium in possession of alcohol, controlled containers such as cans and bottles or other prohibited articles such as smoke bombs and flares." "Part of our strategy will be to minimise any disruption to the wider community but due to the narrow pavements on Borough Briggs Road, we have had to close the road from 9am to 3pm on Sunday to ensure that the fans gain safe access to the ground. The game is being televised live on ESPN with a kick off time of 12 noon.

Do we know why we have had to wait until now for the verdict?

The Scottish Premier League's plan for reconstruction is nothing new. An identical format was tried over 20 years ago in Austria, and was scrapped after eight seasons. http://t.co/3ItbHlu9

Shame on the Club, time to do something about it.

Red face if the share issue flops.

It's been all talk so far, some like it, some don't. If he doesn't produce he will look a fool.

I don't understand that. From Murray ' For every £5 they spend, we will spend £10' to, Whyte shouting about taking everyone to Court. I would have thought Rangers Supporters would be wary of bombastic language, from anyone associated with Rangers.

We can call English whatever we like, but his Article is what many people think. CG should curtail what he comes away with, he isn't doing himself or Rangers any favours.

Reading your posts, it seems to be a 'hot potato' for some reason.

One of our best players in the last 40 years. Wish him all the best.

I never realised how bad things were, horrible. Nice if the RST would take it up with Green.