A lot of Sevco fans who blame Craig Whyte for the death of their Old Club forget that without Craig Whyte getting the £22million off Ticketus and not paying any Tax or PAYE, the Old Club wouldnt even have made it past October or November that season, they only made it till February before they knew they probably wouldn't see out the season and had to go into Administration to get players to take pay-cuts because of the Ticketus deal and non paying of tax and paye. Had they paid tax and PAYE they'd have been most likely liquidated before the halfway mark of the season as they'd have ran out of funds and been unable to operate into January, even when they sold Jelavic in January they still ended up in Admin weeks later.
Murray punted for £1 as he knew they wouldn't see out that season either.
The only way Rangers would have made it through the 2011-12 season is if they sold almost all their squad in a fire sale that summer and January but rather than start living within their means. Murray jumped ship and the new guy had to con money out people and avoid paying tax.
Couldn't get loans off anyone as in the previous 15 years that club had made over £100million in losses, a lot made up by Lewis, King and Murray who paid in £80million+ between them to clear other debt but still in the final months the club were still in £20million+ of debt and still didn't have enough money to pay tax and paye.
And despite having all that debt and making all those losses, the reason they died was because they used EBT's to save around £35million in tax which came back to bite them in the end when they couldn't get loans to save themselves and had no-one willing to help them for fear of being hit by a £50million+ tax bill and penalty.
The Old Club were a shambles, they spent two decades spending money they never had and would never have survived unless they downsized but didnt want to downsize to their natural level as it would have been embarrassing to show they couldnt compete with Celtic.
Sevco fans now can only dream of competing with Celtic. Bell, Foster, McCulloch, Zaliukas, Wallace, Law, Black, Templeton, Boyd, Daly and Miller - that team wouldnt even beat the Hibs or Hearts teams of the mid 2000s yet it's the best team in the Club's history, albeit very short history.