RANGERS F#*KED - Celtic as good as champs

RealSpiritof98 · February 13, 2012, 03:36:44 PM

Rangers FC signal intent to go into administrationRangers Football Club has lodged legal papers signalling its intention to go into administration.

The Ibrox club lodged papers at the Court of Session in Edinburgh on Monday, notifying an intention to declare an administrator.

It now has five days to confirm whether administrators have been appointed to take over the running of the club.

The moves comes while Rangers awaits a tax tribunal decision over a disputed bill plus penalties totalling £49m.

It is understood the papers relating to administration were lodged by Rangers' lawyers on behalf of directors.

If the club is formally put into administration it faces an immediate 10-point penalty from the Scottish Premier League.

That would place the Ibrox club 14 points behind first-placed Celtic in the race for the championship.

lynchbhoy · February 13, 2012, 03:41:53 PM

I think this indicates that they are nearly 100 million pounds in debt
so even if the tax thing is cleared up - they owe a hell of a lot of money..

http://www1.skysports.com/football/news/11782/7453638/Gers-feel-the-pinch

Hardy · February 13, 2012, 03:56:15 PM

That's great news. Now there's one team for the people of Glasgow to unite behind. A shared future.

AZOffaly · February 13, 2012, 03:59:09 PM

an amalgamation Hardy. The could call themselves Saint Judes or something.

NetNitrate · February 13, 2012, 04:01:25 PM

In related news, Rangers are requesting a Protestant administrator.

deiseach · February 13, 2012, 04:03:19 PM

I can think of an amalgamation in the GAA. Why do Meath get two bites of the cherry anyway?

Hardy · February 13, 2012, 04:51:12 PM

You could ask the same about the fords.

seafoid · February 13, 2012, 04:59:46 PM

Gosh.

deiseach · February 13, 2012, 05:00:49 PM

Quote from: Hardy on February 13, 2012, 04:51:12 PM
You could ask the same about the fords.

Ah, but we don't share a land boundary with Wexford or Longford. If we're going to be uniting with other teams based on some letters then we might as well join in with the P's.

Evil Genius · February 13, 2012, 05:03:39 PM

Q. What's got four legs and more money than Rangers?

A. Harry Redknapp's dog...

charlieTully · February 13, 2012, 05:16:04 PM

is that an automatic 10 point deduction?

AQMP · February 13, 2012, 05:23:43 PM

Quote from: charlieTully on February 13, 2012, 05:16:04 PM
is that an automatic 10 point deduction?

Only if they actually go into administration. The action today gives them 10 days to negotiate with creditors to try to reach an agreement. Some sources are speculating that they have got word that the HMRC case has gone against them. If that's true they're absolutely ballixed.

borderfox · February 13, 2012, 05:23:58 PM

Good. About time.

deiseach · February 13, 2012, 05:29:13 PM

Quote from: AQMP on February 13, 2012, 05:23:43 PM
Some sources are speculating that they have got word that the HMRC case has gone against them. If that's true they're absolutely ballixed.

What would/could happen in those circumstances?

Ulick · February 13, 2012, 05:36:40 PM

Quote from: AQMP on February 13, 2012, 05:23:43 PM
Only if they actually go into administration. The action today gives them 10 days to negotiate with creditors to try to reach an agreement. Some sources are speculating that they have got word that the HMRC case has gone against them. If that's true they're absolutely ballixed.

Read somewhere they'd be insured for the loses in the tax case but not the possible penalties. So while they'll be screwed for a couple of years like Leeds, I don't think it's going to be the end of the club