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Lloyds Change Attitude Towards Football Clubs!


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Forcing SDM in selling the club to the first people arriving and thus consequently leading us to the admin event? You would like to know what made Lloyds think to force-sell on of Murray's price assets, while they apparently have not so much pressure when it comes to other clubs? And obviously, it amounts to financial doping if some clubs are bailed out by a bank on the back of the tax payer?

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Wonder if all those Killie fans who threatened their chairman with boycotts if he voted us into the SPL will come down from their moral high ground....

Looking at their attendances it seems they've been boycotting their own club for a while now.

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I'm just not convinced that Lloyds forced Murray into selling to Whyte.

 

If so for what purpose? for £18m?

 

Murray still owes Christ knows what to the bank anyway so what difference would that £18m have made? I personally think Murray had got fed up with us and saw an opportunity to get rid of us. At that point the bank knowing what was likely to happen with Whyte they said you can only sell to Whyte if the debt is paid off. At which point I'm sure he could have said no.

 

I honestly think Murray fecked us not the bank - the bank just took advantage of the situation

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Maybe. Yet, you would ask yourself, why sell the club for a pound when it was one of the few things of his imperium that was actually not going under? If the stories we hear are correct, we could have reduced the managable debt at the time while still sure being able to challenge for (if not: in) Europe. IMHO, either Lloyds forced him because it was a decent pay-back for them, or HMRC's witchhunt made Lloyds act then rather than wait till the possible debt increased.

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Maybe. Yet, you would ask yourself, why sell the club for a pound when it was one of the few things of his imperium that was actually not going under? If the stories we hear are correct, we could have reduced the managable debt at the time while still sure being able to challenge for (if not: in) Europe. IMHO, either Lloyds forced him because it was a decent pay-back for them, or HMRC's witchhunt made Lloyds act then rather than wait till the possible debt increased.

 

 

He was duped, remember.

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He was duped, remember.

 

So he said. I hesitate to believe much of what is being said by people of that era these days. You'd hope, as I said, that BDO et al will take care of these issues, but I doubt that much will be revealed (within our lifetime).

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I'm just not convinced that Lloyds forced Murray into selling to Whyte.

 

If so for what purpose? for £18m?

 

Murray still owes Christ knows what to the bank anyway so what difference would that £18m have made? I personally think Murray had got fed up with us and saw an opportunity to get rid of us. At that point the bank knowing what was likely to happen with Whyte they said you can only sell to Whyte if the debt is paid off. At which point I'm sure he could have said no.

 

I honestly think Murray fecked us not the bank - the bank just took advantage of the situation

 

Totally disagree. When LBG took over HBOS It meant emminent Celtic supporters Manus J Fullerton &Archibald G Kane were in charge of the scottish business division. That included MIH which of course included Rangers oldco. MIH had bank debt of over £700m and Rangers oldco had debt of around £18m (3 per cent of the MIH debt) yet LBG seemed much more interested in the Rangers debt and even appointed Muir & McGill onto the Rangers oldco board. Why would they do that ? Why weren't they more concerned with the much larger MIH debt? Was the opportunity to cause damage to Rangers too great to resist? Then to compound matters Whyte managed to acquire Rangers. Was SDM forced into selling to Whyte by LBG? If so by whom and for what reasons? That is the question we need answered. Let us hope the police investigations or the Insolvency Service can provide the answers we deserve.

And not forgetting we need to find out why HMRC pursued us for a fictitious EBT tax bill which never existed. Did a former labour cabinet minister use his political contacts to do this? Hopefully after the UTT early next year this will become clearer too.

Edited by RANGERRAB
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