Paper this morning says that for the first time the true debt has come out in a report to creditors. Rangers owe around £134m to 276 bodies and individuals. Shocking that so many people and businesses are effected by one clubs missmanagement that will probably be uneffectived in the long term.
This figure includes £93m to HMRC...that's, £93m that you, me and every other taxpayer has had to find or that could have been spent on keeping 1000's of people in a job.
I really hope someone gets the book thrown at them over this!
That's a truly staggering figure and given the revenue potential of say Portsmouth v Rangers its hard to see anyone taking that on in it's entirety. What that means of course is that every one of those 276 creditors including you and me are as always going to get royally shafted and Rangers FC will hardly miss a heartbeat and kick off next season as if nothing had ever happened. Football is a disgrace in the way it allows clubs to cheat in this way.
Of course Rangers are not the only ones that owe the tax man, plenty of clubs are on the brink, i wonder how much Football in the UK owes the tax man as a whole, now that would be scary
i imagine it being pretty shocking if we did know every clubs finances.
with rangers, cant believe its that much money owed to that many people. i don’t know the full ins and outs of this but whoever (company or individual) was in charge should be bloody slapped. running a football club like rangers you want to compete with celtic and try and get into Europe but if you haven’t got the money no matter what the club and the rest of the board and fans want just say no. we cant. we haven’t got any money. mismanaged is a bloody understatement.
HMRC should put a charge on the TV money at source. Then the football clubs would regulate themselves. Maybe they should just take all the Sky money and then take the total owed to them out of it and let he football clubs fight over what is left?
Shocking isn't it kigelia. The worst of it is that we all know that those responsible will in all probability not be held to account. If a Chief Exec or two did an occassional 18 month stretch I suspect that football wouldn't be quite so keen to chuck £10k's a week at ordinary players and their agents. Somebody, somewhere knew this was happening and allowed it to continue.
How can Murray be involved with the take over bid? Wasn't he in charge when all this started?
Not unusual is it, screw a company into ground, then the creditors and then buy back the business at a knockdown price and pretend to be a saviour, didn't Bates do that with Leeds
Good grief. These figures are absolutely shocking. I wonder what those figures would be if they were to be released for the Premier League. Surely football run on the lines we currently see just cannot continue ? I suspect that the coming few years will see cataclysmic events in football terms at least.
SHG I think that the sustainability lies in the hands of HMRC. They were challenging the football debt priority rule and of course clubs can only avoid winding up orders if HMRC refuse to accept a reduced payment - providing they are the majority creditor
In reality arent the Revenue forced to accept reduced terms or nothing just like every other creditor ? The only way I see a change coming is if HMRC refuse to allow monies owing to accrue and force football to pay its tax liabilities perhaps quarterly. In any event it seems to me that football is on a precipice now that the global financial climate is so different from what it was just five years ago. If I'm honest I won't shed many tears if any number of these cheating and unscrupulous football club owners are forced out of business and clubs that keep their house in order can flourish. A good start will be when footballers salaries are brought back into the real world.
In reality arent the Revenue forced to accept reduced terms or nothing just like every other creditor ? The only way I see a change coming is if HMRC refuse to allow monies owing to accrue and force football to pay its tax liabilities perhaps quarterly. In any event it seems to me that football is on a precipice now that the global financial climate is so different from what it was just five years ago. If I'm honest I won't shed many tears if any number of these cheating and unscrupulous football club owners are forced out of business and clubs that keep their house in order can flourish. A good start will be when footballers salaries are brought back into the real world.
The problem with this SHG is that the fan has no control over it. I agree with your sentiment completely. Both Rangers and Portsmouth should, in my view, be wound up and be forced into liquidation and not be allowed any shortcut routes into the same division they are in now.
However if it was Charlton I would, I'm a little embarrassed to say, not care about the tax payer and the other creditors if the difference was our cub disappearing.
It is this attitude that makes those in a position to influence the decisions tempted to 'protect' the clubs.
Comments
BBC Scotland story
Taking a 75% cut is massive. Fair play.
Davis and Mcgregor were on over £24k and £23k a WEEK!
Whoever agreed to those kind of salaries should be barred from football.
It all really smells.....
Other than utter stupidity is there any other reason for putting players on silly money ?
This figure includes £93m to HMRC...that's, £93m that you, me and every other taxpayer has had to find or that could have been spent on keeping 1000's of people in a job.
I really hope someone gets the book thrown at them over this!
I glad the BBC added this bit
Edinburgh City Council (£90).
with rangers, cant believe its that much money owed to that many people. i don’t know the full ins and outs of this but whoever (company or individual) was in charge should be bloody slapped. running a football club like rangers you want to compete with celtic and try and get into Europe but if you haven’t got the money no matter what the club and the rest of the board and fans want just say no. we cant. we haven’t got any money.
mismanaged is a bloody understatement.
5:19PM
guinnessaddick said:
How can Murray be involved with the take over bid? Wasn't he in charge when all this started?
Different Murray. David Murray was the former owner, Paul Murray is putting a bid together.
Paul Murray is also a former director of the club.
I doubt anything major will happen from this, alot of the debt will be wiped and what does that teach anyone?
http://www.independent.co.uk/sport/football/european/spanish-successes-mask-debt-crisis-7575791.html
However if it was Charlton I would, I'm a little embarrassed to say, not care about the tax payer and the other creditors if the difference was our cub disappearing.
It is this attitude that makes those in a position to influence the decisions tempted to 'protect' the clubs.