Generic clubs in financial crisis Thread

[Terminal Boardom]

Is there any way that HMRC can demand that money can be deposited to cover future PAYE payments? And what about VAT for Q3? Has this been paid? Or how about Corporation Tax for 2010/11? Just how can a football club be allowed to operate with this level of debt? It's criminal.

[ZacNaloen]

Rangers enter administration

[YateleyRoyal]

Rangers enter administration

Bit of a at this...knew they had issues but didnt realise they were this bad. Could this be the beginning of the end of the whole SPL? If Rangers fold, the whole thing could go tits up.

[Friday's Legacy]

Rangers enter administration

Bit of a at this...knew they had issues but didnt realise they were this bad. Could this be the beginning of the end of the whole SPL? If Rangers fold, the whole thing could go tits up.

they owe just shy of £50m to hmrc.

[YateleyRoyal]

Rangers enter administration

Bit of a at this...knew they had issues but didnt realise they were this bad. Could this be the beginning of the end of the whole SPL? If Rangers fold, the whole thing could go tits up.

they owe just shy of £50m to hmrc.

Fair enough, I dont really tend to follow amateur football so I wouldn't know.

[Terminal Boardom]

Rangers enter administration

Not quite but the fat lady is clearing her throat.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966

£49m???

[Magnus]

ROFLangers

[Barry the bird boggler]

Well it was becoming a 1 horse race in Scotland anyway. Bet a 10 point deduction still keeps them 2nd though!

[Who Moved The Goalposts?]

Looks like they could be being helped out of trouble yet again.

http://www.bbc.co.uk/sport/0/football/17013408

Won't go far. They've got that tax bill and a month or more of wages to find.

And the installment of the CVA to find as well.

Think the first CVA payment is due in April. And as mentioned, £1m won't go far. Is the situation at Rangers universal in that they need to file the intention to appoint an administrator first? If so, they better get their skates on - only 1 week to go from the hearing. I'd love to know what the meeting between HMRC and Pompey contained. I cannot see what there is to discuss.

[Friday's Legacy]

is it all really that bad for rangers though? they have a lot less teams in scotland. they could cease trading, go bankrupt and lose the debts and create a new club tomorrow; and how many years will it take to get them back to the spl?

they may even try and apply to join the english non-leagues (try).

i don't know if they could keep ibrox and the training ground, but because of who they are i imagine something could be worked out, or lease the national stadium.

[TFF]

is it all really that bad for rangers though? they have a lot less teams in scotland.

If that doesn't bring Dirk back, nothing will.

[Friday's Legacy]

is it all really that bad for rangers though? they have a lot less teams in scotland.

If that doesn't bring Dirk back, nothing will.

shall we edit our posts? i elaborated further.. if the club fold then they can be reborn and back in the spl in no time at all, such is the size of their football league pyramid - was what i was alluding to.

[Geekins]

Pompey to enter Administration tonight or tomorrow... http://www.guardian.co.uk/football/2012 ... nistration

[Jackson Corner]

For a club the size of Rangers this is a sorry state of affairs. How long before one of the big English clubs go? Thay are all running at high levels of debt.

[Magnus]

Pompey to enter Administration tonight or tomorrow... http://www.guardian.co.uk/football/2012 ... nistration

Has this ever happened before?

[TBM]

Portsmouth need to just bite the bullet and drop down a few divisions and start again........they will still have the fan base, i reckon the supporters would rather watch lower league footy than none at all.

[Friday's Legacy]

For a club the size of Rangers this is a sorry state of affairs. How long before one of the big English clubs go? Thay are all running at high levels of debt.

the sooner the better. the game is in a sorry state and clubs are competing by spending money they don't have, therefore it's not a level playing field for the rest of us that do run our clubs in the right way, and occasionally have to bite the bullet and sell our best players to survive.

bolton last i read had something unimaginable nearing £90m of debt, and that was a couple of years ago. bonkers.

[ZacNaloen]

The guardian sports page just made me chuckle

[Hoop Blah]

For a club the size of Rangers this is a sorry state of affairs. How long before one of the big English clubs go? Thay are all running at high levels of debt.

Will this just make the SPL a one horse race or do they not have similar point deduction rules as down here?

[cmonurz]

Rangers enter administration

Bit of a at this...knew they had issues but didnt realise they were this bad. Could this be the beginning of the end of the whole SPL? If Rangers fold, the whole thing could go tits up.

If little Pompey can't go bust, and Plymouth and Darlington hang on forever, I don't think Rangers are going to fold, tbh.