The administrators say they have been talking to other people so other offers may emerge. We'll see.
Some say the "newco" is the best way to go but I'd rather avoid that if possible (which again remains to be seen).
Former Motherwell chief executive Pat Nevin believes Duff and Phelps's success in reaching an agreement over wage cuts at Ibrox "is a way for Rangers to possibly survive only until the summer".
Former Scotland international Nevin, who was at Motherwell during the Fir Park club's period of administration, told BBC Radio 5 live: "There are two ways out; one is a CVA [company voluntary arrangement] then asking HMRC to look for 10p in the pound and the £49m big tax bill and there's a smaller tax bill - which is considerable too.
"If the HMRC do not agree then there is no route out. Nobody is going to come in and pay £60m/£70m to Rangers because that money will never be recouped.
"They still have massive problems."
HMRC don't want liquidation. If it takes Rangers a decade to pay back whatever they agree to, then so be it.
If Rangers liquidate it would be shameful, truly shameful.
Also, where were all of these 'bidders' 12 months ago. How can we go from 'the only game in town' to multiple expressions of interest?
Tim
That's a very good point. They wouldn't touch Rangers with a barge pole a year ago when it was in a relatively healthy state but now they're desperate to get their hands on it when it's on life support.
Very iffy.
It is weird, policy. 40 expressions of interest? When their state is truly parlous?
The gorilla hasn't gone away after all.
Also, Whyte is linked with Ticketus, or Octupus, or whatever.
It's as murky as it was when Minty was calling the shots.
I'm prepared to be shot down, but I don't think Rangers will liquidate. HMRC will not allow it.
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posted on 10/3/12
The administrators say they have been talking to other people so other offers may emerge. We'll see.
Some say the "newco" is the best way to go but I'd rather avoid that if possible (which again remains to be seen).
posted on 10/3/12
Former Motherwell chief executive Pat Nevin believes Duff and Phelps's success in reaching an agreement over wage cuts at Ibrox "is a way for Rangers to possibly survive only until the summer".
Former Scotland international Nevin, who was at Motherwell during the Fir Park club's period of administration, told BBC Radio 5 live: "There are two ways out; one is a CVA [company voluntary arrangement] then asking HMRC to look for 10p in the pound and the £49m big tax bill and there's a smaller tax bill - which is considerable too.
"If the HMRC do not agree then there is no route out. Nobody is going to come in and pay £60m/£70m to Rangers because that money will never be recouped.
"They still have massive problems."
posted on 10/3/12
HMRC don't want liquidation. If it takes Rangers a decade to pay back whatever they agree to, then so be it.
If Rangers liquidate it would be shameful, truly shameful.
Also, where were all of these 'bidders' 12 months ago. How can we go from 'the only game in town' to multiple expressions of interest?
posted on 10/3/12
Tim
That's a very good point. They wouldn't touch Rangers with a barge pole a year ago when it was in a relatively healthy state but now they're desperate to get their hands on it when it's on life support.
Very iffy.
posted on 10/3/12
It is weird, policy. 40 expressions of interest? When their state is truly parlous?
The gorilla hasn't gone away after all.
Also, Whyte is linked with Ticketus, or Octupus, or whatever.
It's as murky as it was when Minty was calling the shots.
I'm prepared to be shot down, but I don't think Rangers will liquidate. HMRC will not allow it.
posted on 10/3/12
Comment deleted by Site Moderator
Page 2 of 2