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Scottish champions could go into administration
Topic Started: May 17 2010, 05:37 PM (78 Views)
Homer
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I am the King
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Rangers could be forced into administration with debts as high as £80 million after being slapped with a £24m tax bill, reports The Scotsman.

The fine, handed by HM Revenue & Customs after an investigation into offshore payments made to players during the past decade, coupled with interest of £12m, could reach up to £54m.

Combined with Rangers' existing debt of around £30m those figures could leave the Gers drowning in monetary problems.

An source from the club was quoted in the Scottish newspaper as saying: "We're already struggling to pay £30m we owe the bank. Another £50m could tip us in to the abyss of administration.

"We've been hit with a £24m 'assessment' from the taxman. The implications are horrifying. The interest could be £12m and there may also be a penalty element of between £12m and £18m. This is a desperate situation."

The club are expected to appeal in a process that could take a year.

At the beginning of May property developer Andrew Ellis admitted that he was "optimistic" of completing a takeover of the club before the end of the month.
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erm307
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God
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Good.
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elcule
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Kolo
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Why is that good erm?
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Winner.

"If I go to Anfield and someone puts the ball into the box and Carragher hammers it out of play the fans applaud. At Camp Nou you would never be applauded for that." - Xavi
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Homer
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Answer the god dam question Erm
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AntMcfc
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POTY
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Homer
May 17 2010, 11:42 PM
Answer the god dam question Erm
:hysterics:
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Scholes
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Nothing's as it seems
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Homer
May 17 2010, 11:42 PM
Answer the god dam question Erm
:laughcry:
Scholes
 

Seriously, Frank Lampard is an absolute legend of the game. He needs to be recognised in some way eg. Frank Lampard OBE, Sir Frank Lampard or some kind of lifetime achievement award.

AntMcfc
 
Greatest ownage machine: Scholes. Absolute animal when he was a regular poster, I always knew I was in the right when he was backing me up, and I couldn't wait to read a topic that he was posting in because I knew he'd be tearing someone apart
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erm307
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God
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Sorry Homer. It's not really good. Never good to see a club going into administration. I just don't like Scottish football...it's shit.
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