The Rangers Saga and Fallout Thread

[Five.Stars]

Purposely failing to disclose information about EBTs at the time of registration is what this is all about. If everything was fine and dandy, why hide it?

Hide it? It wasn't hidden - every penny is accounted for in each years audited accounts - I can scan a copy of each years if you like?

The details weren't disclosed (just to CLARIFY, that is not the same as hidden). Given the nature of EBT's and how they are administered it is within reason to conclude that the details of such arrangements need not be disclosed to the footballing authorities, since the arrangement is not directly between the player and the club. It turns out this conclusion was inaccurate and the disclosure rules did indeed cover arrangements such as the ones investigated. Crucially though, the non disclosure did not warrant any registrations from being invalidated and thus all players were eligible, just the same as Scott McDonald was for Motherwell when he scored that glorious double against you on the 22nd of May 2005.

If the details had been disclosed, it would have had no effect whatsoever. The SPL/ SFA would have filed the paperwork and said carry on, since there are no rules to prevent the use of legal schemes such as EBT's.

Therefore, not having that same paperwork would also have zero effect, either on or off the park - any fair minded, reasoned person must conclude.

Rangers were found to have breached the disclosure rules. A simple legal technicality.

I would be interested to find out if other clubs financial arrangements would stand up to the same level of scrutiny.

 

[McMav]

Outstanding summing up there five stars. Pity it will fall on the deaf ears if the haters.

 

[eddiemcgarrigle]

Hmmm, not a direct arrangement between club and player yet the club pays the money and the player receives it. Shenanigans methinks.

 

[Five.Stars]

Hmmm, not a direct arrangement between club and player yet the club pays the money and the player receives it. Shenanigans methinks.

That is how EBT's work. Money is deposited by the employer (Rangers) in to an off shore trust which is administered by a board of independent trustees. The employee can then apply to the trustees for access to the funds in the form of interest free loans. The terms of repayment are entirely between the trustees and the employee receiving the loan.

You might not like it. You might not understand it. But the facts are this is perfectly legal and similar schemes have been used by numerous businesses the length and breadth of the country. HMRC believed Rangers operated its EBT scheme incorrectly. That has proven not to be the case. Although it has been accepted that the club didn't administer the football side of things 100% correctly and thus the company that formerly operated the club have been given a fine of £250,000.

That is about the 4th or 5th time I have explained it, and it is getting a bit boring now to be honest.

 

[McMav]

That is how EBT's work. Money is deposited by the employer (Rangers) in to an off shore trust which is administered by a board of independent trustees. The employee can then apply to the trustees for access to the funds in the form of interest free loans. The terms of repayment are entirely between the trustees and the employee receiving the loan.

You might not like it. You might not understand it. But the facts are this is perfectly legal and similar schemes have been used by numerous businesses the length and breadth of the country. HMRC believed Rangers operated its EBT scheme incorrectly. That has proven not to be the case. Although it has been accepted that the club didn't administer the football side of things 100% correctly and thus the company that formerly operated the club have been given a fine of £250,000.

That is about the 4th or 5th time I have explained it, and it is getting a bit boring now to be honest.

You'll be better off finding a brick wall mate than expect this lot to accept the facts as it does not fit their agenda. Title stripping was 18th out of 18 punishments though they wanted it to be the only one. They are gutted pure and simple.

54 and counting.

 

[eddiemcgarrigle]

This is too easy, better get a bigger net.

 

[Five.Stars]

This is too easy, better get a bigger net.

This guy certainly didn't need bigger nets!!!

http://i.dailymail.co.uk/i/pix/2009/12/10/article-1234848-078D5A68000005DC-553_468x365.jpg


** No Hotlinking - Rules on posting images ***

 

[McMav]

This guy certainly didn't need bigger nets!!!

http://i.dailymail.co.uk/i/pix/2009/12/10/article-1234848-078D5A68000005DC-553_468x365.jpg

Lol.

 

[eddiemcgarrigle]

Clutching at straws chaps, and history that no longer applies to your Newco. I see that your club made an operating loss of 7m despite the rumoured injection of 20m, could the end be in sight for Newco and will we soon be seeing a NewNewco?

 

[Five.Stars]

Clutching at straws chaps, and history that no longer applies to your Newco. I see that your club made an operating loss of 7m despite the rumoured injection of 20m, could the end be in sight for Newco and will we soon be seeing a NewNewco?

Keep telling yerself that if it helps you sleep at night bud.

The fact is the club retained its history when it was transferred to the new company. Unless you don't believe the SFA, the SPL (read their accounts lodged on thursday), the SFL, UEFA, the European Club Association, and the 2 very honourable gentlemen Lord Glennie and Lord Nimmo Smith.

But what do they know eh! :rollseyes:

 

[Five.Stars]

Oh and with £21.2 million in the bank, we will be ok thanks. Just to save you worrying!

 

[McMav]

Oh and with £21.2 million in the bank, we will be ok thanks. Just to save you worrying!

21 mill in bank and no debts.

Loss was expected sice we have paid off oldco football debts. Fully expect a cracking set of results next year.

 

[strocky]

What's the old saying, fool me once......

 

[V F]

No talk of the Ibrox renaming?

Rangers threads are funny when I found this.

 

[strocky]

Going to be an empty stadium if Charles Green's "shop a bigot or get banned" declaration gets launched

http://www.telegraph.co.uk/sport/fo...reen-vows-to-ban-Rangers-bigots-for-life.html

 

[McMav]

Going to be an empty stadium if Charles Green's "shop a bigot or get banned" declaration gets launched

http://www.telegraph.co.uk/sport/fo...reen-vows-to-ban-Rangers-bigots-for-life.html

Not if he bans like Celtic do. Tell me how many of the poppy protesters got banned by Peter in the end????

 

[strocky]

Not if he bans like Celtic do. Tell me how many of the poppy protesters got banned by Peter in the end????

Ah "Whataboutery" the calling card of the defeated, if you can point out where in Scottish Law that peaceful protest is a crime (unlike sectarian singing) you may have a point

So McMav will you risk your season book for your neighbour?

 

[McMav]

Not really whataboutery. Peter said he would ban those that shamed the club. I ask has he? As for your second point I don't have a season book as I can't go to all games. Buy a ticket when I can make it. As for shopping someone. I've never had the need as when I do go I'm in the family section with my son. However there are plenty of stewards and police around who should be able to remove the minority of trouble makers. I'm sure it's the same at park head.

 

[doopydug]

Whats this about ibrox being renamed - surely the fans wont let Charles Green get away with that - talk about selling your soul ?

Why would he need to do that if the club is now on such a sound financial footing?

 

[McMav]

Whats this about ibrox being renamed - surely the fans wont let Charles Green get away with that - talk about selling your soul ?

Why would he need to do that if the club is now on such a sound financial footing?

It's the future and easy money. Fans will still refer to it as Ibrox and Ibrox will still be in the name. You can never have to much money. Heard Meccano want to sponsor parkhead.