Rangers FC Thread

[RAB - P]

Statement On Administration

FOLLOWING today's court proceedings in Edinburgh, Rangers Chairman Craig Whyte issued the following statement.

"As a consequence of court proceedings instigated this morning by HMRC, the board of Directors has regrettably taken the decision to appoint administrators with immediate effect.

"The Club did not want nor anticipate having to take this course of action today but had no option. We had hoped that continued dialogue with HMRC would mean that a decision on administration would not have to be taken for 10 days while all other avenues were explored.

"Due to its cost structure, the Club has been loss making for many months.This situation has resulted in increasing liabilities and the Club has been in discussion with HMRC regarding these liabilities.

"These liabilities combined with the threat of the outcome of the first tier tax tribunal left the Club no option but to formally restructure its financial affairs.

"It goes without saying that administrators will work towards a solution that will be in the interests of the Club and its creditors. At no stage has a solution been sought where my personal interests were put before the Clubs. The Club and our supporters come first.

"It remains our firm belief that the Club's future can be secured and we hope this period of administration will be as short as possible.

"As Chairman and a Rangers fan, it is very painful to see the Club being deducted 10 league points but I would urge all Rangers supporters to rally round Ally McCoist and the team in these difficult times."

David Whitehouse and Paul Clark, of Duff and Phelps, will conduct the administration.

Paul Clark said: "As administrators we have a statutory duty to act in the best interests of all creditors and we will fulfil that function diligently.

"We fully recognise the great history of this club and what it means to people throughout the world.

"Whilst today is a sad day for Rangers, it also addresses the terrible uncertainty that has been hanging over the Club. The administration period, while difficult for all involved, will give stability to the Club in order to move forward.

"I can assure all Rangers supporters that all aspects of the administration will be carried out with the interests of the Club firmly in mind. As a first step, the administration team will ensure that Saturday's match at Ibrox will proceed as planned and all other routine Club business will continue."

[surfbum]

the funny thing about all this is all the clubs in the spl say they dont need us, so how is it now there greetin that we o them money ?
gtf you dont need us lol ,you wont get the money if rangers are not hear.
o and you wont get the sky money cos sky want 4 old firm games, its part of the deal.
lets see how yous all survive now ya bunch o coonts lol
if we end up in the bottom league so be it we will come back stronger and we will remember never to go to your grounds again fook yous all.

[IANB]

we are still the people

We will always be the people

[Paul-K]

We will always be the people

No, Craig Whyte sold the rights to that


i'll get me coat

[RAB - P]

[surfbum]

ALLY McCOIST says he will continue to work hard to take the club forward after Rangers moved in to administration today.

The Light Blues boss admits it was a dark day for the team he has supported all his life but he will do everything he can to contribute to its rise again as the club works for a stronger future.


He said: "That's the aim. That's the thing we want to assure the fans and the players and the workforce of.

"We will be doing everything to make sure Rangers comes out the other side far better and far stronger.

"There's no getting away from it. It has been a very disappointing and black day.

"We have 140 years of fantastic history at this football club but the most important thing is that we look to the future and the next 140 years.

"Going in to administration obviously wasn't ideal but it's the opinion of many people that it might be the best thing for this football club.

"Everybody at this football club wants the club to continue, which it will do that's for sure, and this might just be the best way forward.

"So we have to adjust to what's happened, react to it and take the club forward and we aim to do that."

McCoist remains positive that he can do that and that he can rally his players to perform in the face of adversity.

He added: "I'm very positive. I have to be and we all have to be at this time and in this situation. There is no place for negativity and there can't be.

"There is no hiding from the facts and you can't argue with those but we are where we are and we're faced with what we're faced with, and we have to be positive.

"I've spoken to Craig, to the staff and to the players and we all agree that we must do our best to take the club forward.

"That will be the case and I can assure all the fans of that.

"The players are professionals. We have a fantastic group of, a talented group and they are at home in training and on the pitch. That will not change.

"Obviously like everybody else there will be people concerned about their jobs and their welfare and we appreciate that.

"But everybody is of the same opinion; that we must rally together and take this great club forward."

[RAB - P]

McCoist's Rallying Cry

Ally McCoist has issued a rallying cry to Rangers fans as he urges the Light Blue faithful to back his side this weekend and for the rest of the season.

Speaking last night McCoist said “The most important people at this football club have always been the fans and that will always be the case. The one thing that I have to ask them at this time is to be with the Club and with the team. The team really need the support of the fans more than ever in this hour. It's always been the case that we have had a wonderful relationship with the fans and I firmly believe that they are the best in the world. Now we need them and we have to ask them to prove that again by supporting the team in numbers and I am sure they will do that. I would ask the fans for their continued great support and to please get behind the team.”

Tickets are still available for Saturday’s match against Kilmarnock, kick-off 3pm, click here, call 0871 702 1972 or visit Rangers Ticket Centre.

Calls cost 10ppm from a BT landline, mobile and other providers’ charges may vary.

[shaun127]

Rangers

THE administrators of Rangers Football Club have issued the following update.

Paul Clark and David Whitehouse, of Duff and Phelps, said: "We can report we have made very good progress within the first 24 hours of being appointed administrators over Rangers Football Club.

"Our first priority has been to ensure that the football club continues to function and this is being achieved with the help of staff, players and management at the Club.

"In particular, we would like to thank the Club's business partners who are going the extra mile to ensure that Saturday's home match against Kilmarnock goes ahead as scheduled. We had extremely constructive discussions with Strathclyde Police and we can confirm the match will take place.

"We fully recognise this is a difficult time for players and staff at the Club and are extremely appreciative of their reaction to the situation. We will be holding meetings with the staff on a weekly basis at least to inform them of developments.

"We are also in the process of speaking to representatives of supporters' groups and that will be an ongoing process.

"In broad terms, supporters can be reassured that Rangers will continue as a football club and we hope to reach a stage as soon as possible where the Club can emerge from administration.

"We have had expressions of support across the political spectrum in Scotland within the last 24 hours and there is clearly a desire to see Rangers come through this situation successfully.

"The Club has, however, taken the decision to postpone the Hall of Fame Dinner and Awards Ceremony scheduled for this Sunday (19 February, 2012) at the Glasgow Hilton as holding the event at this time was not considered appropriate.

"The event will be rescheduled for a later date and all table sales and sponsorship commitments will be honoured at that time. Rangers would like to apologise for any inconvenience caused to supporters, sponsors and clients and we will ensure details of the rescheduled event will be communicated as soon as possible. The Club would also like to thank the Glasgow Hilton for their understanding.

"If anyone has booked places or a table at the event and have any questions, the Events Department can be contacted on 0141 580 8613.

"There had been widespread publicity and speculation regarding the financial affairs of the football club.

"For clarity, the cost structure of the Club and ongoing losses were such that the Club had outstanding liabilities to HMRC. These were the subject of discussion and clearly HMRC wished to see them resolved as a matter of urgency.We are involved in dialogue with HMRC and will work with them constructively, as is the case with all other key stakeholders."

[surfbum]

Football | STV Sport

Dunfermline Athletic have said that they do not expect to received ticket money that they are owed by Rangers as the Ibrox club comes to terms with its financial crisis.

Rangers appointed administrators on Wednesday as the club’s debts became unmanageable. Dunfermline are one of the club’s creditors, being owed around £80,000 as gatereceiptsform the match between the clubs last weekend.

In a statement on the club’s official website, Dunfermline said that they had sympathy for Rangers’ plight but said that the potential loss of funds could be a major blow to their own finances.

The statement read: “All of the Board of DAFC would like to express their concern and shock that a giant football club such as Rangers FC has gone into administration.

“The impact of this will be felt throughout Scotland, the UK and Europe and the Board and club would wish to convey their support to Rangers FC and hope that the club can find a way through this terrible time.

“However, the direct impact to DAFC is not insignificant: Rangers FC are due DAFC in the region of £80,000 of gatereceiptsfrom Saturday's fixture which is obviously of extreme concern.

“This payment is no longer expected to be received by next Tuesday which would have been due to the club.

“This is a significant amount of money for a club such as DAFC to lose especially after losing £50,000 due to our game against Kilmarnock being postponed and will createsome challenges for us over the coming months, these challenges are not insurmountable.”

[snapman]

Sir Alex Ferguson: Rangers administration is ‘a tragedy’


Sir Alex Ferguson has described Rangers’ administration as “a tragedy”.

The Manchester United manager, who was a player at Ibrox in the 1960s, said that the news that Rangers had appointed administrators on Tuesday was not a shock to him but said that he was disappointed by the club’s financial decline.

"I'm not surprised what happened at Rangers," Ferguson said. "That was on the cards for a quite a while from since that lad [Craig Whyte]took over.

"It is a tragedy because it is a great football club.

"It is one of the best clubs you could ever think about. I don't know what will happen there.

Ferguson, who spoke to the media ahead of his club’s Europa League match against Ajax on Thursday, said that the problems at Ibrox were not indicative of wider financial problems within football.

The veteran manager said that isolated cases of clubs struggling with debt were inevitable but that the game as a whole was acting responsibly.

"As far as the rest of Europe is concerned, the top clubs have the ability to manage their affairs in the right way,” Ferguson insisted.

"You get the odd one here and there that run into trouble, like Portsmouth. But, in the main, you are talking about a small percentage.

"It is nothing we should panic about. We are just disappointed in the ones who do fall aside."

Ajax coach Frank de Boer, who was a player at Ibrox for a short spell in 2004 said: “It’s very sad for Scottish football, and also European football, to see such a big name (in trouble).

“As an ex-Rangers player it’s very sad.

“It’s not the first club to get in a mess and all of Europe is a little bit like this at other clubs.”


Source: STV