Two wrongs and a right

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Jimbo 5th January 2016 at 10:53 pm ========================= I think you may …

Comment on Two wrongs and a right by Homunculus.

jimbo 5th January 2016 at 10:53 pm

I think you may have picked me up wrong.

I absolutely believed that Rangers could be placed into administration, they did it to themselves. My point was that other people told me they wouldn’t be, along with the rest of the things that couldn’t happen.

They did it because HMRC threatened them. If I remember correctly Whyte said it would happen within about a week, then HMRC petitioned the CoS and Whyte was forced to do it immediately.

Once they were in administration I was 100% confident they would be liquidated, so long as HMRC had 25% of the debt or more. There was no way it was going any other way, and I have described why on enough occasions. They will do it to any football club they can, particularly one which steals from them.

One more thing, it was HMRC who put BDO in to do the liquidation, if people think that Police Scotland have come up with all of this on their own then they have more faith in their ability to investigate complex fraud cases than I do.

Homunculus Also Commented

Two wrongs and a right
Inspired by reading Phil’s latest, in particular with regards Walter (no surname required) and finances.

He said: “People come out and say ‘Ah, it’s not necessary for them to have those players in that division’. But it’s not just the division that matters at Rangers, it’s the fact that you have 45,000 people coming to watch something on a football pitch…they are still losing money. But when you make a decision to be involved at Rangers, there is no common sense to it. The financial bit of Rangers Football Club and common sense don’t often go ­together.”

Tom English’s comment

Why not? What makes Rangers so different that financial common sense has no place at Ibrox? Smith’s analysis was plucked from the David Murray era; freakonomics born of hubris. No common sense? He’s right, there hasn’t been. That’s not to say there shouldn’t be or that there can’t be. There must be. It’s just as well that Wallace has arrived and seems determined to cut costs. Somebody had to shake the club out of its economic time warp and bring certain people to their senses.

I think the above goes a long way to explaining what happened to Rangers and what could happen again. I think it may also explain why they are not paying the fees required to bring the targets in. They simply don’t have the money to.

Only this time it’s more difficult to get credit, either from a bank or from another club. “Somebody had to shake the club out of its economic time warp and bring certain people to their senses.” Or stop giving them credit they can’t afford.

Two wrongs and a right
“Enormous amounts of money have been pumped into the club account by King and a number of his allies and it’s estimated that so far, including cash spent on shares and in repaying Mike Ashley’s £5m loan, the running total stands close to £15m.”

Can we just clear this “pumped into the club” thing up as well. The money for shares did not go to the club, it was private purchase and not a club issue. The money went to the seller.

The rest of the money, including the money to repay Ashley is loans. They can call them “soft loans” if they want but it is still loans which will have to be repaid. They could well be repaid as shares, but all that will mean is that the money from any share issue has already been spent and will not be new money going into the club.

Two wrongs and a right
From Keith Jackson’s piece

“Since bursting his way into the boardroom to liberate his football club from a long line of charlatans …”

I’m assuming there was a charger involved, almost certainly white and probably rampant.

Recent Comments by Homunculus

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
JANUARY 2, 2018 at 16:03

Not the humility then.

It Is Better To Offer No Excuse Than A Bad One
JANUARY 2, 2018 at 15:37

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.

“I cover every issue and more often than not you will read it here first. If I were a Superhero and not a mere blogger I would literally champion the oppressed. However as one who believes  that the pen is mightier than the sword I revert to keystrokes. I have never had a tattoo but if I ever decided to go down this route I would choose the Palestinian flag. However as this might offend one of my my best friends, Max in Tel Aviv, I continue to demure.”

I’m assuming he means demur, however he could well be a shy, modest lady. 

The heroism continues

“When it comes to murderers who remain at large this site will continue to hold the most the most odious mass murderer since Pol Pot, Tony Blair, to account. Given half a chance I would fell him with a single head-butt or induce irreparable damage to his frontal lobes with an upward punch to his nose. Suffice to say I have sufficient training in martial arts to make this blow count. People like Blair are immune to the pen. This lily livered pansy deserves the sword.”

Can you guess who it is yet. 

It Is Better To Offer No Excuse Than A Bad One

THE case for retaining Hampden as the home of Scottish football has been dealt a blow after a survey found just 15 per cent of fans were happy to stay put.


The Scottish Football Supporters Association (SFSA) carried out a survey of just under 3,000 of its members and found only a sixth wanted to see major internationals and cup finals staged at Hampden.

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