Rangers Tax Case made a very early start to the day, tweeting at 4.57am about a UEFA definition.
Next season, for the first time, UEFA will deal directly with licensing, ensuring that all clubs in next season’s competition are complying with the same set of rules, ending the practice of local variations.
Don’t tell me that the holding company operating the football club ??is in trouble?
— tommy (@Tomtheleedstim) April 21, 2023
Recently there has been intrigue and speculation about the goings on at Ibrox which has seen two share issues, the loss of a Chairman and Sporting Director plus the go-ahead given for a £9.5m claim against the club.
This week’s £750,000 share issue is the most interesting, just 15 days after shares were issued in return for £3m from ‘investors’.
Even the most Gullible should be able to work out that an unexpected bill has arrived this month or a demand for repayment- or else.
Most invoices can be negotiated around, a 90 day delay is common practice with many companies but after previous experiences HMRC won’t be fobbed off with the promise of part payment once the Season Ticket money comes in or full payment when Ianis Hagi is sold to Galatasaray.
The old club managed to keep HMRC at bay over an unpaid bill of £2.8m relating to the payment scams used for Tore Andre Flo and Ronald de Boer.
David Murray just brass necked it, back then shares were a bit more exclusive rather than issued regularly during the second half of the season to deal with pushy creditors or pay roll.
With so much happening off the pitch Micky Beale may find severely reduced options for looking into the eyes of transfer targets as he hunts down the four or five players needed to challenge Celtic next season.
And up to date with repaying their Scottish Government Covid loans, complete with quarterly cash flow reports? https://t.co/UkBqhVpdEA
— Joe McHugh (@videocelts) April 21, 2023
Great article Joe. Regarding the COVID loans, do you know the timeline for repayment? All the best from the Dresden CSC
Editor: It is very friendly, I think over 20 years interest free, the ‘interesting’ part would be seeing quarterly cash flow reports.
The Loan or remaining balance must be repaid in full if Directors Loans are repaid or end of Season bonuses are issued to players, staff and Especially: Directors. Plus they are preferred Creditors ( just like HMRC) so are first in pecking order to be paid back.
Because of their previous corruption ,no organisation would touch them with a geranium as far as a legitimate loan is concerned ! Oh they might go to Close Bros ,but the interest is astronomical ! The clumpany is a financial pariah ! The family silver has long been sold and there is therefore nothing left of value in which to exchange for much needed cash … Cash is king ,and it’s not the Dave kind …. Concomitantly !
Their biggest problem is if they survive , then this dire situation will happen every single year until it breaks into a billion pieces and the SFA and SPFL know all about it ,yet are as quiet as a Church mouse !