ian1964 10,457 Posted March 28, 2012 Share Posted March 28, 2012 RANGERSâ?? administrators are set to rack up a £3million bill if the saga drags on into the start of next season, it emerged last night. The Ibrox club face starting next term with a 10-point deduction in the SPL. Administrators Duff & Phelps â?? who yesterday said it could take months to pick which of five bidders will buy the club â?? are charging up to £654 an hour for each member of their staffâ??s service. Their bill will wipe out three months of savings agreed by players who took salary cuts of up to 75per cent. Prospective bidders for the club have yet to be invited to look over the books and get sight of the clubâ??s tangled finances in the wake of Craig Whyteâ??s reign. Asked about a timescale for the sale, a Duff & Phelps spokesman said: â??We do feel we have to manage expectations with this. â??We have five bids in and we are looking at them. We need to carry out due diligence and the hope is we can reduce those bids down to two or three. â??It could take weeks or months.â? The company would only say they â??hopeâ? that a new owner would be in place by the start of the new season, but refused to rule out the possibility that would not happen. Many firms go in and out of administration in days, with finance experts moving swiftly to slash costs and find a buyer. If Duff & Phelps are still in place when the new season starts, they will have run up a bill for 25 weeksâ?? work â?? with expenses such as air fares and hotel bills on top. Their spokesman declined to comment on their charges to Rangers. The news came amid internet speculation about St Mirren director Ken McGeochâ??s links to Rangers secretary Gary Withey. McGeoch was told to quit the Paisley board yesterday after he was said to have shown information about playersâ?? contracts to Withey... in the St Mirren boardroom. The revelation prompted anger from Saints fans. McGeoch has previously attempted to buy the Paisley club. And some fans claim his offer may have been connected to a reputed plan to merge St Mirren with Rangers to let the Ibrox club back into the league if they go into liquidation. http://www.dailyrecord.co.uk/news/scottish-news/2012/03/28/revealed-rangers-administrators-run-up-3m-bill-and-still-no-sign-of-a-buyer-for-troubled-ibrox-club-86908-23804107/ 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,290 Posted March 28, 2012 Share Posted March 28, 2012 Oh, let's start the week with some new horror news ... just ahead of the real bids for the club being examined and taken foward. They do have some brass neck to suggest that the admins will rake in the player's wages, don't they? Unless I am mistaken, the club had to cut their running costs (sic!) by 1m per months to survive this season, not to pay the admins. But never let facts get into the way of investigative journalism ... 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted March 28, 2012 Share Posted March 28, 2012 The admins are not working for nothing though, are they? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,290 Posted March 28, 2012 Share Posted March 28, 2012 The admins are not working for nothing though, are they? Nope, they work for those mentioned (and guessed?) 654 pounds per hour. As has been said though, I would be pretty surprised if they had calculated their own costs into the "money required to finish the season" when they hardly had a clue how good or bad the bids for the clubs would be. And while we are at it, how many people from D&P work a) on behalf of the clubs right now and b) do they all get that top-notch money per hour, even if they do nothing but minor work? While I do see a point in making such a remark about their work, right now the press (and not least the Record) look at every negative angle possible and milk them to the core. I wonder when the next article about the possible SPL investigation penalties hits the headlines ... 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 28, 2012 Share Posted March 28, 2012 b) do they all get that top-notch money per hour, even if they do nothing but minor work? No, we don't get charged at the same rate by the administrators for all of their employees working on the Rangers administration. There's a sliding scale for the charges to be added to the bill whereby David Whitehouse & Paul Clark are the only two who will be charged out at the top rate and below them are the other employees on a decreasing scale based on their job position within D&P. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,059 Posted March 28, 2012 Share Posted March 28, 2012 Nope, they work for those mentioned (and guessed?) 654 pounds per hour. As has been said though, I would be pretty surprised if they had calculated their own costs into the "money required to finish the season" when they hardly had a clue how good or bad the bids for the clubs would be. And while we are at it, how many people from D&P work a) on behalf of the clubs right now and b) do they all get that top-notch money per hour, even if they do nothing but minor work? While I do see a point in making such a remark about their work, right now the press (and not least the Record) look at every negative angle possible and milk them to the core.I wonder when the next article about the possible SPL investigation penalties hits the headlines ... We must be getting ripped off because according to the administrators own website (no guesswork!) they only charge £634 per hour (+ expenses) ! http://ripassetseu.s3.amazonaws.com/www.mcr.uk.com/_files/documents/jan_12/1_ADM_05013_-_Creditors_guide_to_administrators_fees.pdf 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted March 29, 2012 Share Posted March 29, 2012 We must be getting ripped off because according to the administrators own website (no guesswork!) they only charge £634 per hour (+ expenses) ! http://ripassetseu.s3.amazonaws.com/www.mcr.uk.com/_files/documents/jan_12/1_ADM_05013_-_Creditors_guide_to_administrators_fees.pdf Is that rip assets or r.i.p. assets in that link? 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted March 29, 2012 Share Posted March 29, 2012 We must be getting ripped off because according to the administrators own website (no guesswork!) they only charge £634 per hour (+ expenses) ! http://ripassetseu.s3.amazonaws.com/www.mcr.uk.com/_files/documents/jan_12/1_ADM_05013_-_Creditors_guide_to_administrators_fees.pdf I was going to say that there's a whole lot of guessing going on in this issue, but all the admin lovers must accept the evidence for their own gods. But not to disappoint anyone with the guess work, I guess we're getting ripped off and will be all over the summer. As far as I'm concerned, with 5 bidders on the table, they're not doing their job. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,290 Posted March 29, 2012 Share Posted March 29, 2012 Out of interest ... how much does e.g. Steven Davis gets paid "per hour". Training for x hours per week, in for a match day for x hours per match day ... would be interesting to see. 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted March 29, 2012 Share Posted March 29, 2012 Out of interest ... how much does e.g. Steven Davis gets paid "per hour". Training for x hours per week, in for a match day for x hours per match day ... would be interesting to see. The answer is: A lot of money, but then again, we see every week the contribution he makes to our club for that money, regardless of whether you think it's too much or not, at least it's measurable. 0 Quote Link to post Share on other sites More sharing options...
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