Darthter 542 Posted April 3, 2012 Share Posted April 3, 2012 Does anyone know what the financial status is of the clubs parent/owner group??? I heard a while ages that while the club itself is in administration, the parent company is still solvent....I may be (& probably am) completely wrong with this, but its not an area I know much about.... 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,290 Posted April 3, 2012 Share Posted April 3, 2012 I'm not sure whether I understand what you are talking about. 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted April 3, 2012 Share Posted April 3, 2012 What legal entity is in Administration? My understanding was that the football club itself isn't the one paying/not paying the bills rather it's parent company... 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 3, 2012 Author Share Posted April 3, 2012 (edited) I'm not sure whether I understand what you are talking about. This is my understanding: You have The Rangers FC Group Ltd (Directors: C Whyte/A Ellis). This is the company that was previously Wavetower, and the company that owns 92,842,388 ordinary shares in Rangers Football Club PLC. It is also the company that received the Ticketus money & paid the bank debt. Then you have Rangers Football Club PLC - this is the actual footballing part, and also the part that is in Administration. My question is....What is the financial situation of the Rangers FC Group Ltd??? Edited April 3, 2012 by Darthter 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 3, 2012 Author Share Posted April 3, 2012 What legal entity is in Administration? My understanding was that the football club itself isn't the one paying/not paying the bills rather it's parent company... It is The Rangers Football Club PLC that is in administration...see here 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted April 3, 2012 Share Posted April 3, 2012 It is The Rangers Football Club PLC that is in administration...see here Thanks bud, so it follows then that the company formerly known as Wavetower (Rangers FC Group Ltd) own the majority of the shares in RFC PLC and is still a solvent, going concern. What are you thinking? 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 3, 2012 Author Share Posted April 3, 2012 Thanks bud, so it follows then that the company formerly known as Wavetower (Rangers FC Group Ltd) own the majority of the shares in RFC PLC and is still a solvent, going concern. What are you thinking? I'm thinking that if the RFC group Ltd still has cash in the bank....does it rightfully belong to RFC Plc, and why is it in the RFC group account and not the clubs??? Could it be that CW is holding a stockpile of cash??? He has been adamant that all cash has been accounted for, he's just not specified where. A Though: CW stockpiles cash, puts the club into Administration thus reducing the debts through a CVA, then he miraculously finds £XXm to reinvest. 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted April 3, 2012 Share Posted April 3, 2012 I'm thinking that if the RFC group Ltd still has cash in the bank....does it rightfully belong to RFC Plc, and why is it in the RFC group account and not the clubs??? Could it be that CW is holding a stockpile of cash??? He has been adamant that all cash has been accounted for, he's just not specified where. A Though: CW stockpiles cash, puts the club into Administration thus reducing the debts through a CVA, then he miraculously finds £XXm to reinvest. That is basically what I've thought since day one however I'm not sure today's events make that more or less likely. Wouldn't D&P go after any stockpiled money in a parent company? 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 3, 2012 Author Share Posted April 3, 2012 Wouldn't D&P go after any stockpiled money in a parent company? Possibly.... D&P are chasing the remainder of the Ticketus money that was in the Collier Brystow account, but would they have any remit if the remainder was transferred from the holding account into the RFC Group Ltd account??? All very messy... 0 Quote Link to post Share on other sites More sharing options...
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