GovanAllan 0 Posted November 22, 2012 Share Posted November 22, 2012 we signed at least one player in january. whyte set us on a deliberate course to disaster. he bumped up our costs way beyond what could be afforded then he didnt pay any bill he didnt have to. he knew we would be going into admin before he ever bought us. Spot on GS, the man maybe a bastard but he ain't stupid he had a plan from the get go. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted November 22, 2012 Share Posted November 22, 2012 Quite a bit of money went to Ticketus - at least £8m for the first tranche of payments during last season.. That created a big shortfall. Our wages were unsustainable without a good European run and so we were on course to make a loss as well due to the double exit and add in not too many cup games at Ibrox that could have brought in a million or three. Then there's the player purchases in the Summer which makes about an 18m shortfall that Whyte was not going to fund - nor anyone else. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted November 22, 2012 Author Share Posted November 22, 2012 we managed to pay running costs whilst paying paye for over 100 years previous, why not last year? Calscot probably sums it up well above. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted November 22, 2012 Share Posted November 22, 2012 I think Ticketus would have voted for the CVA as while it was a pittance compared to what they were owed, it would have been better than what they got under liquidation and they are a business, not a vindictive and incompetent government department. They could then sue for the loss with the companies that Whyte used as guarantors - although I doubt they'd have much joy. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted November 22, 2012 Author Share Posted November 22, 2012 we signed at least one player in january. whyte set us on a deliberate course to disaster. he bumped up our costs way beyond what could be afforded then he didnt pay any bill he didnt have to. he knew we would be going into admin before he ever bought us. I think he signed players gambling on European football covering at least some of the shortfall. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted November 22, 2012 Share Posted November 22, 2012 I think it's obvious that Whyte wanted to keep Rangers running long enough for the BTC to be decided - but that was originally due a year ago and then put back to March - he didn't guess that it would take till now, and his strategy didn't stretch that far. I think we were always going to be in administration at some point due to Ticketus but he would have expected a CVA if we won the BTC. Like I said, that way he'd own the club, virtually debt free for £1 and then sell it on for at least £20m - a 2 billion percent profit in one year. He still probably expected a CVA if we lost the case and didn't bet on it being turned down. You can see where the pound signs flashed in front of his eyes. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted November 22, 2012 Author Share Posted November 22, 2012 Spot on GS, the man maybe a bastard but he ain't stupid he had a plan from the get go. Plan for what though? Unless you believe the conspiracies about him owning the club now I don't see what he's gained out of all this. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted November 22, 2012 Share Posted November 22, 2012 Plan for what though? Unless you believe the conspiracies about him owning the club now I don't see what he's gained out of all this. He may not have gained the riches he hoped due to the reasons I've already explained, but I'm sure he syphoned off a few million of the Ticketus money as well as other scams. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted November 22, 2012 Author Share Posted November 22, 2012 He may not have gained the riches he hoped due to the reasons I've already explained, but I'm sure he syphoned off a few million of the Ticketus money as well as other scams. Aye, but your idea of his plan involves a CVA etc which I agree with. GS keeps insisting liquidation was his aim from the get go. What I can't fathom is what amazing riches he's gained from this that he wouldn't have from a CVA, us remaining in the SPL etc. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted November 22, 2012 Share Posted November 22, 2012 Plan for what though? Unless you believe the conspiracies about him owning the club now I don't see what he's gained out of all this. Pretty much what Cal has outlined, but his plan collapsed when the BTC took way too long to get sorted and it got taken out of his hands. 0 Quote Link to post Share on other sites More sharing options...
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