Originally Posted by
TrebleKing:
“Oh, another expert on Rangers....
”
Its true though, if Whyte had payed Tax and not done the ticketus deal - which he done full well knowing that he was really just stealing their money then how far would Rangers have made it that season?
He didnt pay something like £7million of Tax by February, he got £18million I think from Ticketus, so £25million he got/saved to see them through half a season and by February even after selling Jelavic in January earning more money they only had something like £5million left when they went into Administration.
Rangers would probably have been penniless by September at the latest with 0 hope of making it through the season as, as soon as they went into Administration it was game over as HMRC were never going to agree to a CVA. Also without the Ticketus money and not paying PAYE then there would have been not a penny in the coffers to continue playing.
Literally nothing could have been done to save Rangers unless someone threw £100million or something at it, to pay off the debt, come to some sort of agreement with HMRC and whatever and even then it would have been £100million down the drain as even with that the club would still have had to downsize substancially to run by their own means, so you'd have been throwing £100million down a hole to worsen the team - theres nobody alive dumb enough for that hence why they were up for sale for ages and nobody stepped in except Craig Whyte who spend £1 to pull the plug and make himself a couple of £million.
The same mistakes are being made at Sevco now too, where rather than cut cloth and run within their means, they are again running on other peoples money from loans...... King was one of the cowboys who overseen how that worked for the Old club but he's doing the same again, maybe with his eyes pointing in different directions he couldnt see what was happening