TV money will dry up as lets face it the only game people want to watch is the old firm, other than that is bellow championship standards.
The Rangers Saga and Fallout Thread
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TV money will dry up as lets face it the only game people want to watch is the old firm, other than that is bellow championship standards.
The league would turn into a mickey mouse league, it's nearly that now...
Celtic would be vastly superior for a few years the board would simply not buy anyone because they don't need to. (Their chances of qualifying for the CL are already slim.) So why bring top players when you win the league by 30 points.
Also which TV company in their right mind would want to show Celtic Fc winning the title at christmas who is going to tune in for the 2nd half of the season?
Who's going to go to Parkhead to watch Celtic play meaningless games after Jan?
As far as I can tell, this is all down to the uncertainty of the HMRC case.
For the past 12 months, it has been pointless for Rangers to invest any (much) money in the club, as any investment would potentially be lost if/when the club went into administration.
I think they had planned to wait for the tax case to be resolved, then either begin investment if they won, or to go into administration if they lost.
But with HMRC threatening to appeal any verdict, then the club is in an almost impossible position. No-one in their right mind would invest money until the case has been resolved, and with HMRC threatening to drag it out, the club would have been left with potentially years of uncertainty and a lack of investment in the team.
By going into administration, there should now at least be a resolution of some kind. Either HMRC agree to a creditor agreement, which would allow the club to continue trading, with a known and affordable repayment structure on any agreed debt. Or, HMRC will dig their heals in, to make a point out of the club and potentially the club as it exists now, would cease to be and would then transfer all assets to a new club and re-form from the ground up, leaving HMRC with nothing.
For the past 12 months, it has been pointless for Rangers to invest any (much) money in the club, as any investment would potentially be lost if/when the club went into administration.
I think they had planned to wait for the tax case to be resolved, then either begin investment if they won, or to go into administration if they lost.
But with HMRC threatening to appeal any verdict, then the club is in an almost impossible position. No-one in their right mind would invest money until the case has been resolved, and with HMRC threatening to drag it out, the club would have been left with potentially years of uncertainty and a lack of investment in the team.
By going into administration, there should now at least be a resolution of some kind. Either HMRC agree to a creditor agreement, which would allow the club to continue trading, with a known and affordable repayment structure on any agreed debt. Or, HMRC will dig their heals in, to make a point out of the club and potentially the club as it exists now, would cease to be and would then transfer all assets to a new club and re-form from the ground up, leaving HMRC with nothing.
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Soldato
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It used to be competitive before 1992.
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So let me get this right...
Craig Whyte buys the club for £1
Settles the lloyds debt using a "mortgage" against tickets (ie the £18m)
Puts club into administration
He is first in line as creditor
Transfers assets into a new entity (e.g. Rangers United) and bankrupts Rangers FC
New entity now worth £x
£££
Craig Whyte buys the club for £1
Settles the lloyds debt using a "mortgage" against tickets (ie the £18m)
Puts club into administration
He is first in line as creditor
Transfers assets into a new entity (e.g. Rangers United) and bankrupts Rangers FC
New entity now worth £x
£££
It's crap.
As div0 mentions it's either HMRC agrees to a debt repayment plan, or RFC go bust. For the wider game the best outcome is the first. If RFC go bust, Sky TV money goes out the window pushing many of the other clubs over the brink and "Rangers Utd" would presumably need to apply to the football league for a position in the third division and work there way up from there again, unless the SPL bends every rule in the book to parachute the new club back into the league.
Caporegime
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nothing really, their club has been poorly managed by the directors board for nearly 2 decades now.
celtic on the other hand have a manageable 7M debt to pay off which they have been picking away at for years to get it down to 7M, whereas rangers have at least 75M debt outstanding.
That £75million figure is just their potential tax liability over the outstand tax case, they're already £10million in arrears with PAYE and VAT since Whyte took over, plus the £18-24million "mortgage" figure which I think is what was used to pay off the existing bank debt as part of the buyout. So the debt is at least £30million or so it seems, and could be as much as £100million.
http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17026172
http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17026172
Caporegime
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wow £100 million debt is roughly 15 times as big as Celtic's, im sure if rangers have survived for this long, with no money, other clubs should be able to ride out a few rough years and learn from rangers mistakes, personally i hope the go bust, i dont care if its bad for scottish football for a few years, it's going to be brilliant for scotland as a nation.
sectarianism will be at the lowest levels ever if rangers went bust. as well as old firm related violence, etc.
absolutely nothing. my team posted a profit of £174k last season
biggest in its entire history thanks to the people at sky. To be fair Rangers debt is nothing compared to some of the top flight english teams. Think the difference is Rangers had a fair big owed to the tax man rather than just 'normal' debts. Same sort of thing thats affected Pompey and was it Darlington?Yeah, sectarianism is caused by football in the west of Scotland and not merely an outlet and a symptom!
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Problem with that is we are not as reliant as our english cousins are on TV money (because we have no choice really). Celtic and Rangers are on less than two million a year from sky compaired to equivilent english teams on 40 odd million a year.
So your argument is celtic will fold if they loose two million a year? That is if sky/espn say they are not interested atall anymore. If they arent I am sure the celtic board could push for there own TV deal or set up there own channel.
That is what I was alluding to....without Rangers the SPL is in a bit of a sticky wicket regarding revenue.
Caporegime
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Yeah, sectarianism is caused by football in the west of Scotland and not merely an outlet and a symptom!
it doesn't matter what its caused by, it is a known fact without rangers, levels of sectarianism would fall.
basically like two numpties who love to fight every day, remove one of them and guess what the other numpty has nobody to fight with now.
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