kni Posted February 25, 2014 Report Share Posted February 25, 2014 What is interesting is Sevco bumped their gums big time about the big bad transfer embargo that they were under. The first transfer window that comes along where they are able to freely sign players without restriction they sign absolutely no one. There's trouble brewing in Mordor... Rangers were able to sign the players that McCoist wanted in the summer. They were allowed to use 3 as trialists before the embargo ended. They had nearly a 100% record in League Two (only one draw and no losses) so there was no urgent need for more signings. The trouble will brew in the summer when McCoist has to get rid of his big earners and find cheaper, i.e. worse, replacements. As most of the squad is signed up for next season, they will need to get the season ticket revenue in quickly to pay them. The other question is will McCoist go too? Can he afford to resign in protest at the likely budget cuts? Would he get sacked for complaining and moaning about them in the media? Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted February 25, 2014 Report Share Posted February 25, 2014 Imran has lost his claim to freeze £500,000 of Sevco assets as there was no evidence that Sevco were in immediate danger of folding (no surprises there as they have just pumped £1,500.000 into the club....makes it clear why this was done a couple of days before this case!!) however it isn't all bad news as the judge decided Sevco have a case to answer to regarding the non payment of a bonus to Imran and that goes to court in April!! http://www.bbc.co.uk...otball/26333152 If the judge has ring fenced £750K as was the figure I heard that could have plunged Rangers into administration or liquidation, the judge would not have wanted to be responsible for that, if rumours are true the £1.5 million is to pay the PAYE due on Friday to prevent a winding up order. More frightening for Rangers is that the debt can be re-paid with assets rather than cash at the demand of Laxey, that will be the Edminston building and the Albion, this is the start of the asset stripping Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted February 25, 2014 Report Share Posted February 25, 2014 Rangers were able to sign the players that McCoist wanted in the summer. They were allowed to use 3 as trialists before the embargo ended. They had nearly a 100% record in League Two (only one draw and no losses) so there was no urgent need for more signings. The trouble will brew in the summer when McCoist has to get rid of his big earners and find cheaper, i.e. worse, replacements. As most of the squad is signed up for next season, they will need to get the season ticket revenue in quickly to pay them. The other question is will McCoist go too? Can he afford to resign in protest at the likely budget cuts? Would he get sacked for complaining and moaning about them in the media? Unless Rangers get substantial investment before May, they will not make the summer, they either need to get the ST's sold early or go cap in hand to more spivs. Why do you think Ibrox got 2 semi finals? to give them some cash flow prior to the end of the season and before the ST's or the team got sold Quote Link to comment Share on other sites More sharing options...
peagreenboy Posted February 25, 2014 Report Share Posted February 25, 2014 The trouble will brew in the summer when McCoist has to get rid of his big earners and find cheaper, i.e. worse, replacements. As most of the squad is signed up for next season, they will need to get the season ticket revenue in quickly to pay them. Any players at Ibrox that we'd want to pick up on the cheap? Quote Link to comment Share on other sites More sharing options...
potty trained Posted February 25, 2014 Report Share Posted February 25, 2014 Any players at Ibrox that we'd want to pick up on the cheap? Wallace to replace Sinclair. I'd still rather keep Sinclair. Apart from that, no. Anyone who's part of that club is tainted. Quote Link to comment Share on other sites More sharing options...
allyo Posted February 25, 2014 Report Share Posted February 25, 2014 Any players at Ibrox that we'd want to pick up on the cheap? I'd take Billko. That's all. 1 Quote Link to comment Share on other sites More sharing options...
Lenziejag Posted February 25, 2014 Report Share Posted February 25, 2014 (edited) If the judge has ring fenced £750K as was the figure I heard that could have plunged Rangers into administration or liquidation, the judge would not have wanted to be responsible for that, if rumours are true the £1.5 million is to pay the PAYE due on Friday to prevent a winding up order. Not sure if that can be true, Norge. I think that PAYE is due on 19th of the month - at least for normal businesses. Maybe football is different. Edited February 25, 2014 by Lenziejag Quote Link to comment Share on other sites More sharing options...
potty trained Posted February 25, 2014 Report Share Posted February 25, 2014 Not sure if that can be true, Norge. I think that PAYE is due on 19th of the month - at least for normal businesses. Maybe football is different. Surely they don't pay 1.5m a month in PAYE? Is it not more likely Norge meant this is a final payment date on accrued previous unpaid PAYE? Quote Link to comment Share on other sites More sharing options...
billko Posted February 25, 2014 Report Share Posted February 25, 2014 I'd take Billko. That's all. If i was a player you couldn't afford me Just like Rangers Quote Link to comment Share on other sites More sharing options...
peagreenboy Posted February 25, 2014 Report Share Posted February 25, 2014 If i was a player you couldn't afford me Just like Rangers Not even with an EBT on the sly? Quote Link to comment Share on other sites More sharing options...
billko Posted February 25, 2014 Report Share Posted February 25, 2014 Not even with an EBT on the sly? Are they still legal? Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted February 25, 2014 Report Share Posted February 25, 2014 Surely they don't pay 1.5m a month in PAYE? Is it not more likely Norge meant this is a final payment date on accrued previous unpaid PAYE? depending on the size of the company and the agreement with HMRC they do not have to pay PAYE every month but can pay it quarterly, yearly etc, from what I heard the latest payment for PAYE is due Thursday or Friday this week, if the wage bill is in the region of £8 million a year, that will be 3 months PAYE at the top scale, the financial quarter finished last friday for a lot of businesses so to do the accounts payable run usually happens a week later Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted February 25, 2014 Report Share Posted February 25, 2014 Are they still legal? Were they ever Quote Link to comment Share on other sites More sharing options...
billko Posted February 25, 2014 Report Share Posted February 25, 2014 Were they ever Of course they were Quote Link to comment Share on other sites More sharing options...
Gingerjag Posted February 25, 2014 Report Share Posted February 25, 2014 who cares ? not me Aberdeen beat selic funny stuff oh the old firm r shingus Quote Link to comment Share on other sites More sharing options...
David Stevenson Posted February 25, 2014 Report Share Posted February 25, 2014 if the wage bill is in the region of £8 million a year, The fitba wage bill is in that bracket but there are many more employees at Ibrox and Murray Park than just the playing staff. The player wage bill (£7M) was actually a smaller %age of turnover (£32M) than most clubs in Scotland. Problem was that income was only £18M, so a £14M deficit over a year or thereabouts..... Total wage bill could be double that £7M figure. I guess they must be paying a lot of win bonuses this season too..... Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted February 25, 2014 Report Share Posted February 25, 2014 The fitba wage bill is in that bracket but there are many more employees at Ibrox and Murray Park than just the playing staff. The player wage bill (£7M) was actually a smaller %age of turnover (£32M) than most clubs in Scotland. Problem was that income was only £18M, so a £14M deficit over a year or thereabouts..... Total wage bill could be double that £7M figure. I guess they must be paying a lot of win bonuses this season too..... Reading that last bit I can't help thinking of a solution along these lines http://static.guim.c...roducers460.jpg Quote Link to comment Share on other sites More sharing options...
kni Posted February 25, 2014 Report Share Posted February 25, 2014 Reading that last bit I can't help thinking of a solution along these lines http://static.guim.c...roducers460.jpg Don't worry, Ally, you'll definitely get paid next month! Quote Link to comment Share on other sites More sharing options...
ClydebankJag Posted February 26, 2014 Report Share Posted February 26, 2014 Of course they were Time will tell, the upper-tier tribunal hearing commenced this week. Quote Link to comment Share on other sites More sharing options...
stillresigned Posted February 26, 2014 Author Report Share Posted February 26, 2014 Yes, unfortunately for Sevco they seem to be in a tight spot (again!). It just amazes me that this has all happened in plain sight, with nary a whisper from the self-appointed moral guardians of "our beautiful game" the gentlefolk of the fourth estate, who for some reason, usually seem more concerned with higlighting Neil Lennon's latest faux pax than exposing whatever shannanigins are taking place over in Govan. Listening to Chick Dung last night (as he summarised on his beloved team at Stairs Park) he may well have accidentally highlighted why supporters of our city rivals have appeared on the whole so quiescent over the whole affair) essentially he claimed that Rangers' supporters expect certain standards from their club in terms of for example the standard of player they sign. I other words "we arra people", come what may. To be honest despite a growing awareness amongst the more advanced sections of their support, I fear that the time for concerted action was back when for example in Tom English's classic quotes, "John Brown was howling at the moon" and rather overweight chaps where concerning themselves about whether a certain large dwelling would remain open. Of course the use of advanced in regards of Rangers fans must be qualified, to mean that section who are not expecting the forces of the counter reformation to advance on Govan this weekend. All kidding aside why have Rangers supporters kept such a low profile during this period? Perhaps, it is something to do with the fact that they see themselves as the defenders of the status quo and can't quite bring themselves to question recieved wisdom? In all honesty I don't know, nor can I work it out and to be totally honest I really don't care that much. Quote Link to comment Share on other sites More sharing options...
Mr Bunny Posted February 26, 2014 Report Share Posted February 26, 2014 Time will tell, the upper-tier tribunal hearing commenced this week. Please always remember the wee tax case (pre-EBT) admitted, and that several EBTs had side letters so these eventually had to be admitted as well. (All together amounting to millions of quids). It's a bit like a burglar saying he's not a crook because he gets of with 8 charges and 'only' gets found guilty on 2. This tribunal of course doesn't affect TRFC, only the people involved in running old Rangers at the time as HMRC will go after them if they win the UTT. Quote Link to comment Share on other sites More sharing options...
yoda-jag Posted February 26, 2014 Report Share Posted February 26, 2014 Please always remember the wee tax case (pre-EBT) admitted, and that several EBTs had side letters so these eventually had to be admitted as well. (All together amounting to millions of quids). It's a bit like a burglar saying he's not a crook because he gets of with 8 charges and 'only' gets found guilty on 2. This tribunal of course doesn't affect TRFC, only the people involved in running old Rangers at the time as HMRC will go after them if they win the UTT. ^^^correct. a fact zombie mourners conveniently try to swerve and ignore. anyhow, the death knell moves ever closer on the less than two years old club that tried to fill the void in govan after the death of the club that died 140 years old ..... tick tock tick tock, the moneys running out, more trouble at mordorbrox Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted February 26, 2014 Report Share Posted February 26, 2014 ^^^correct. a fact zombie mourners conveniently try to swerve and ignore. anyhow, the death knell moves ever closer on the less than two years old club that tried to fill the void in govan after the death of the club that died 140 years old ..... tick tock tick tock, the moneys running out, more trouble at mordorbrox The same King who has put £20 million in (And forgot to tell the Orcs he took £18 million out + perks, contacts etc), was involved with the old board and SFA stated he could not be involved in the new club, and is a convicted tax dodger. Ranger MkII will be dead soon, as they tear themselves apart again. Graeme Wallace is trying to buy time (2 more months of his 120 day plan with still no cuts), King is trying to cut off the ST income, and the assets are now effectively sepaerated from the club as the stripping begins, ex employees are suing for 6 figure sums, the tax case is back (And if a link can be established between Greene & Whyte it gets even more interesting)......... all whilst McCoist wants a war chest to challenge in the Championship 1 Quote Link to comment Share on other sites More sharing options...
David Stevenson Posted February 26, 2014 Report Share Posted February 26, 2014 (edited) . all whilst McCoist wants a war chest to challenge in the Championship And King plays the same old Ally/ Walter/Gordon Smith mince that the Rangurrs have to spend money they don't have or they won't win anything..... It is, after all, the Rangers way..... His mince in today's Herald is utter madness. They have spent years overspending, building up debt, not paying tax, bailing out the deficit by share issues then building it all up again until finally they were liquidated and the successor Club has done it all over again and King wants to continue the fantasy/nightmare. I do hope they stay solvent until after this season as they could probably live with a 25pt deduction and still win League One. Maybe they are hoping that if the sh1t hits the fan next season, with them on the cusp of promotion to the big time once more, that they can squeeze the hordes for money to see them through. It's quite hard to call the exact game they are playing, but that they continue to overspend by a vast margin is not in question. At the rate of cash burn indicated by their last financial report, the ST money they hope to garner shortly will be gone by Xmas if not before. Edited February 26, 2014 by David Stevenson Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted February 26, 2014 Report Share Posted February 26, 2014 At the rate of cash burn indicated by their last financial report, the ST money they hope to garner shortly will be gone by Xmas if not before. I realise fine well that their expenditure isn't all related to player salary but the way things are panning out they're going about things in reverse. They've evidently cut their wage bill from last season and it clearly looks like they'll have to cut it further next season. They most likely won't be the first club in the footballing universe to reduce their player budget each time they get promoted but I sure can't think of any other. Quote Link to comment Share on other sites More sharing options...
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