THAT Debate, and the Beauty of Hindsight

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From that video, can I just point something out. The club …

Comment on THAT Debate, and the Beauty of Hindsight by Homunculus.

From that video, can I just point something out.

The club doesn’t pay VAT or PAYE, it hands it over.

VAT and PAYE are collected from customers and employees. So what he is actually saying is that he spent money that wasn’t his, to finance a football club.

That is not the same as being unable to pay tax. 

Homunculus Also Commented

THAT Debate, and the Beauty of Hindsight
EASYJAMBO
MAY 13, 2017 at 11:24

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EJ my reading of it is that Whyte was negotiating to do the deal from late 2010.

It was completed in early May 2011.

The first load of Ticketus money was paid on 9th May 2011, after Whyte had taken over. That deal was with Rangers. 

It included the money already negotiated prior to Whyte buying the shares, and the money Whyte used to partly fund the deal.

The entire deal was with Rangers, because that was who was selling the tickets, whether Murray owned the shares or Whyte doesn’t really matter. It was basically a roll up of the season ticket sales already agreed (with Murray) plus the additional ones being sold (agreed with Whyte).

It was basically all the same deal, between Ticketus and Rangers. 

It’s really surprising how little Rangers knew about it. 


THAT Debate, and the Beauty of Hindsight
From Lord Hodge, way back when.

It is probably worth noting it was Rangers doing the deals with Ticketus, even after Whyte took over. 

I believe it is false to think of Rangers / Ticketus and Whyte / Ticketus deals. They were the same thing.

Ticketus operates a business of buying and selling tickets for, among others, sporting events. The two contracts with Ticketus, which I discuss below, in summary involve the sale by Rangers to Ticketus of season tickets and an agency arrangement by which Ticketus is to receive the income flow from the sale of the season tickets. On or about 9 May 2011 Ticketus paid £20,300,912 for the first tranche of the season tickets which covered the seasons 2011-2012, 2012-2013 and 2013-2014. On or about 21 September 2011 Ticketus paid a further £5,075,213 for the second tranche of season tickets, which covered the seasons 2013-2014 and 2014-2015. I am informed that the expected income flow from the sale of the season tickets is likely to represent about 60% of the cash flow of Rangers in those seasons.


THAT Debate, and the Beauty of Hindsight
It is unlikely that Rangers were “in debt” to Ticketus per se, as that is not how Ticketus operated. 

They did not provide loans. They bought season tickets in advance at a discount and sold them at face value via the club, their profit was the discount. As far as the supporter knew they were simply buying the ticket from the club.

If there was “debt” it was just the same as any other season ticket holder. They pay up front, and their debt is reduced as games are played, whether they attend or not. Every season ticket holder at a club is a creditor until the last game they have paid for is played.

The difference with Ticketus was that they were no longer a creditor once their last ticket was sold on to a supporter. I imagine the “debt” was the fact that the games had not been played and their tickets had not been sold at that time. Once those tickets were sold and Ticketus received the money then there was no debt.

The fact that Rangers were using them prior to the sale to Whyte is indicative of, at the very least, cash flow problems. 


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It Is Better To Offer No Excuse Than A Bad One
He has a logo already


It Is Better To Offer No Excuse Than A Bad One
TONY
JANUARY 2, 2018 at 16:03
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Not the humility then.


It Is Better To Offer No Excuse Than A Bad One
TONY
JANUARY 2, 2018 at 15:37
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You guessed, what gave it away.


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Our hero, and he really is a hero is at it again with his self-effacing prose.

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http://www.heraldscotland.com/sport/15715129.New_poll_shows_fans_are_overwhelmingly_in_favour_of_moving_away_from_Hampden/

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…..

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