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Glasgow Rangers Enter Administration

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propersplitbrainme

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Blimey. Heard the news yesterday that they'd filed an application to the court to enter administration, but today they've had to do it so that they could appoint their own administrator because otherwise HMRC would have done it for them with their admistrator. Portsmouth are also on the brink of going back into administration and Darlington on the verge of liquidation.

So, is footballs seemingly bottomless money pit starting to dry up? Darlington's ridiculously over-ambitious stadium was never sustainable at their level and was never even licensed to allow it to achieve full capacity due to local infrastructure issues. The transfer window that has just passed was extremely quiet in spite of Sky Sports attempts at hyping up the significance behind everyone left out of someones squad for a match before the deadline, or seen leaving a training ground in a car.

Both Liverpool and Everton both need newer or larger stadiums to increase match day revenues but the plans for both are just that, plans that get aired every now and then before being put back into the cupboard - maybe a groundshare would be the way forward :PDT_Xtremez_42:
 
It seems that so many football clubs (including my beloved Sheff Weds) have been taking lessons from the Greeks in tax avoidance.
 
Too many loons on both sides of Merseyside would kill that idea at birth.
As for Rangers, well they tried to play with the big boys in England and failed with an unsustainable business plan.
 
Rangers wont go anywhere they are the biggest club in Scotland and current Scottish Champions (keep the Scottish football jokes to the pigs bar please). They should find an investor before too long. Just gotta hope that the HMRC case doesn't bite them on the arse and they get an extra £50m added onto their debts.
 
techie_tubby said:
Just gotta hope that the HMRC case doesn't bite them on the arse and they get an extra £50m added onto their debts.
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Trouble is, HMRC are getting sick to the back teeth of football clubs side-stepping their tax bills because different rules apply to football clubs than they do to other businesses. Rangers will survive this, but what will come out the other end is anyones guess at the moment.
 
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How will Rangers be able to generate enough cash to ever be competitive while staying in the SPL? The tv money north of the border is poor and the team alway gets its arse handed to it in Europe. Tough times ahead.
 
propersplitbrainme said:
So, is footballs seemingly bottomless money pit starting to dry up?
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I reckon it is. The unsustainable business models of previous years won't stand up in todays climate. FIFA want stronger financial rules in place or at least Platini does. The crazy world of planet football were it was all spend, spend, spend with ever climbing debts had to stop eventually. Rangers have alleged debts of around £50m. Man U's debt is at least 10 times that figure

techie_tubby said:
Rangers wont go anywhere they are the biggest club in Scotland and current Scottish Champions. They should find an investor before too long.
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Who will invest? The investors first task would be to throw £50M down the tubes to pay off HRMC. Who in their right mind is going to put that kind of money into a club with no chance of winning anything in Europe and a club that can only target being first or second in a league of two.

propersplitbrainme said:
HMRC are getting sick to the back teeth of football clubs side-stepping their tax bills because different rules apply to football clubs than they do to other businesses.
Click to expand...

I reckon the tax man has had enough of football claiming it's different and now want it to pay up like all other businesses do, no excuses, no special circumstances just payment made in full on the day it 's due.
 
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HMRC has a number of "big" clubs in it's sights both north and south of the border. I would expect the same problem to arise at quite a few clubs who have tried to use the loophole that was apparently in place at Rangers; for those not aware the club loaned players cash from an Employee Benefit Trust (EBT) but never got the players to repay the money, thereby avoiding NI & Tax. It appears that this practice was quite common amongst a significant number of clubs and there could be a few more skeletons appearing from a few closets. For me, it is a sad day but if it allows the club to stay and begin again then I'm all for it. Rangers will be back and as painful as this is, in particular for those people about to lose their jobs, it is necessary.
 
tommo9999 said:
HMRC has a number of "big" clubs in it's sights both north and south of the border. I would expect the same problem to arise at quite a few clubs.
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I agree, you have to wonder how far the HRMC net will spread and who will be caught within. It was the taxman not the policeman who finally ended Al Capone's empire.
 
More power to HMRC`s elbow.
To cheat the tax-man is to cheat us. Its our money being squirrelled away.
 
Looks very gloomy for Vale, poor s0ds are away at the mighty Stanley at the weekend so the usual very small Stanley crowd won't help the Vale coffers.
 
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