Walter Smith

[johnboy1974]

It has been announced that former rangers manager and club legend Walter Smith is leading a consortium to take over rangers football club. Smith who has the backing of the parks of Hamilton group has confirmed his bid for the newco which will be called the rangers football club.

[zee24]

Good luck to them, im no Rangers fan i actually like Celtic over Rangers, but i respect Rangers and everything it has achieved over the years and it would be a shame to see it go under (don't think it will happen) hope the matter is sorted soon as, the fans of the club who have supported them thick and thin don't deserve this.

[skegsagypsy]

He's a bit late, Rangers has already been sold to Charlie Green, it is now known as The Rangers fc and an application has been made to join the SPL

You couldn't make this ~~~~in stuff up if you tried! The whole things a farce!

[skegsagypsy]

Charles Green issued the following statement today:

"Following the formal decision of the creditors' meeting at Ibrox Stadium today, the consortium I represent has fulfilled its agreement with the administrators and has completed the acquisition of the business and assets of The Rangers Football Club plc.

"The transfer of the business and assets to a new company structure has taken effect immediately and the new company is The Rangers Football Club.


"An application has already been made by the company to register with the Scottish Football Association and to participate in the SPL.

"These applications will be considered over the next few weeks and I will continue to have discussions with the football authorities in relation to the Club's position.

"This day is bitter-sweet for the consortium I represent. From our first involvement we made it clear we would have preferred to acquire this great Club through a CVA.

"The decision by HMRC to vote against the proposal was, in my view, counter productive and did nothing but visit the sins of the past on the owners of the future and indeed the supporters who care so much for Rangers and deserve better.

"It was however prudent for us to prepare for this outcome and we are proud and honoured to acquire Rangers and begin a new chapter in its illustrious history.

"These are early days and there is a huge amount of hard work to be done to rebuild Rangers

[maca]

Hmm wonder if anyone on dk would have liked to rename them ??? how about glasgonefornow rangers lol

[SIMPLY THE BEST]

I have a feeling that Charles Green is somehow connected to all this farce through craig whyte and duff and phelps and i reckon this move from Walter Smith and his consortium maybe think that as well.

It will now be interesting to see if this new twist gathers pace and if it can indeed go forward with green stepping aside and letting Walter Smith and his consortium take the reigns.

The Rangers fans will be more happy that Walter has got involved in this way and would back him to the hilt.

I don't know if it's going to happen but if it does not green could be in a bit of a precarious position with the Rangers fans especially as Rangers fans will trust Walter 100 % and if green blocks this then my feelings of green being connected with this saga thru whyte or duff and phelps will get a bit stronger.

[Snowy79]

Now he owns the club he can punt Coisty off and get a real manager in and not one blinkered to the cause.

[SIMPLY THE BEST]

Now he owns the club he can punt Coisty off and get a real manager in and not one blinkered to the cause.

Surely that would be shooting himself in the foot at the moment ? the fans see Mcoist as the only shining light in the whole of this debacle.

[skegsagypsy]

How can Walter possibly be good for The Rangers when he's intrinsically linked to the old regime that caused it's liquidation ?

[ray156]

wished i had 6 million,i would sort the whole mess out.

[SIMPLY THE BEST]

How can Walter possibly be good for The Rangers when he's intrinsically linked to the old regime that caused it's liquidation ?

I am talking about from the fans perspective i have not met 1 fan that would think that way and they would certainly trust him more than they would trust green imho.

And to say he was linked to the old regime that caused it's liquidation is hard to understand whyte is the reason the club finds itself in liquidation not the old regime if by old regime you mean David Murray ?

[skegsagypsy]

Whyte is NOT the reason Rangers were liquidated, they were liquidated due to dubious financial practices (which Walter and Ally would have known and been a part of) and amassing massive debts which they could never afford to repay! Whyte/Green/Duff & Phelps were all patsies of Murray !

[SIMPLY THE BEST]

Whyte is NOT the reason Rangers were liquidated, they were liquidated due to dubious financial practices (which Walter and Ally would have known and been a part of) and amassing massive debts which they could never afford to repay! Whyte/Green/Duff & Phelps were all patsies of Murray !

We'll agree to disagree on that one they were liquidated because whyte came in and didn't pay 1 penny towards the running of the club and he did not pay 1 cent of paye or anything else for that matter and by not paying a cent to anyone the blame lies fully at whytes door for putting them in admin then liquidated.

David Murray was paying what was needed to be payed when he was still running the club and he had brought the debt down year by year and the club was not liquidated by him or because of him it was liquidated because whyte had this in his mind all along.

If anything Murray can only be blamed for crumbling under the pressure that the banks were putting on him and his other businesses but to say he put Rangers in Liquidation is wrong because it was whyte that led to all this.

[skegsagypsy]

Murray sold the club knowing exactly the situation it was in regarding the mounting debts, and the situation in respect to HMRC, the financial irregularities were almost all accrued during Murrays (and Walters) time in charge, the detail of which was public knowledge due to excellent journalism by Phil MacGiollaBhain long before Whyte got involved. How can Whyte be held responsible for acts of financial piracy when he wasn't even connected to the club lol thats just plain daft lol

[SIMPLY THE BEST]

Murray sold the club knowing exactly the situation it was in regarding the mounting debts, and the situation in respect to HMRC, the financial irregularities were almost all accrued during Murrays (and Walters) time in charge, the detail of which was public knowledge due to excellent journalism by Phil MacGiollaBhain long before Whyte got involved. How can Whyte be held responsible for acts of financial piracy when he wasn't even connected to the club lol thats just plain daft lol

Ok answer 1 thing who was in charge when Rangers went into admin that led to liquidation ?

[skegsagypsy]

What has that got to do with the situation, what you need to ask is WHY did Rangers go into administration ? Answer.......Mounting Debts accrued during the reign of D Murray !
It's really that simple.

[SIMPLY THE BEST]

What has that got to do with the situation, what you need to ask is WHY did Rangers go into administration ? Answer.......Mounting Debts accrued during the reign of D Murray !
It's really that simple.

David Murray had got debts down year by year so i dunno where you are coming from about accrued debts every business accrues debts at some time and Rangers would i expect be no different and again the debts were coming down year by year and Murray was paying his way when he was in charge so to say he put them in admin and liquidation is frankly pretty lame.

[skegsagypsy]

Pretty lame pmsl

Who accrued the debt to HMRC ? Answer D Murray

Who was in charge when the EBTs were used ? Answer Murray

Who was at the helm when Rangers bought players the couldn't afford (Remember Flo lol) Answer Murray

Who coined the phrase "For every five pounds Celtic spend, we will spend ten" Oh yeah our old friend Murray spending money he didn't have and could never possibly pay back.

Now all the clowns involved since are certainly tainted, but D Murray is ultimately responsible along with is board, and walked away with a pocket full of the old Rangers cash. But here's the caveat he thinks hes got away with it, nah.....watch this space lol

[skegsagypsy]

Lets not forget the 50 million Murray siphoned off during the share issue .

[SIMPLY THE BEST]

Pretty lame pmsl

Who accrued the debt to HMRC ? Answer D Murray

Who was in charge when the EBTs were used ? Answer Murray

Who was at the helm when Rangers bought players the couldn't afford (Remember Flo lol) Answer Murray

Who coined the phrase "For every five pounds Celtic spend, we will spend ten" Oh yeah our old friend Murray spending money he didn't have and could never possibly pay back.

Now all the clowns involved since are certainly tainted, but D Murray is ultimately responsible along with is board, and walked away with a pocket full of the old Rangers cash. But here's the caveat he thinks hes got away with it, nah.....watch this space lol

Who was in charge when Rangers went into admin/liquidation ?

And how many times does this have to be said has Murray been taken to court and found Guilty of using EBT's in an illegal manner ?

When that has been proven then you may have a valid point but even then it's rather dubious as it's all down to the people you pay to advise you on business matters if they turn out to be incompetent then you live and learn lol

[skegsagypsy]

You can ask silly irrelevant questions until your blue (or green) in the face, but eventually you will have to face the facts.

"In 1999, the spiralling debt prompted the Bank of Scotland to secure a charge over Rangers' income and assets.

This "floating charge" would become hugely significant in the story of Rangers' takeover by Craig Whyte and eventual insolvency.

When Martin O'Neill's Celtic ended Advocaat's success in 2001, Rangers' debts were approaching ?50m.

It was around this time that Murray sanctioned the use of Employee Benefit Trusts (EBT) to minimise the club's tax liabilities for employees.

Essentially these meant that payments using EBTs did not incur tax and National Insurance contributions.

Tax strategy
The problem was, this tax strategy was intended to be used for non-contractual payments to employees.

The tax authorities would eventually argue that Rangers used the scheme to make contractual payments to players.

It would be 10 more years before this ticking time bomb went off, bringing with it the full force of a decade's worth of alleged underpayments and penalties.

[SIMPLY THE BEST]

You can ask silly irrelevant questions until your blue (or green) in the face, but eventually you will have to face the facts.

"In 1999, the spiralling debt prompted the Bank of Scotland to secure a charge over Rangers' income and assets.

This "floating charge" would become hugely significant in the story of Rangers' takeover by Craig Whyte and eventual insolvency.

When Martin O'Neill's Celtic ended Advocaat's success in 2001, Rangers' debts were approaching ?50m.

It was around this time that Murray sanctioned the use of Employee Benefit Trusts (EBT) to minimise the club's tax liabilities for employees.

Essentially these meant that payments using EBTs did not incur tax and National Insurance contributions.

Tax strategy
The problem was, this tax strategy was intended to be used for non-contractual payments to employees.

The tax authorities would eventually argue that Rangers used the scheme to make contractual payments to players.

It would be 10 more years before this ticking time bomb went off, bringing with it the full force of a decade's worth of alleged underpayments and penalties.

Well when i see it in black and white that Rangers or Murray were found to be knowingly using EBT's in an illegal manner then we will agree to disagree.

I find it rather dubious as well that HMRC allowed this to happen over the length of time they did so this raises questions about the HMRC as well and after letting vodafone away with billions of unpaid tax it makes you wonder the mindset of the HMRC.

[skegsagypsy]

Well when i see it in black and white that Rangers or Murray were found to be knowingly using EBT's in an illegal manner then we will agree to disagree.


Maybe you'll get a wee printed letter in the post to such effect, but I wouldn't hold my breath if I were you :cheers: