Herald: Whyte told to take on tax bill risk
02/04/2011 33 Comments
The Herald is reporting that Craig Whyte has been told that the tax bill will have to be at his risk if he is to buy Rangers. MIH’s newly released accounts do not include a provision for accepting liability for the tax case either. The MIH accounts firmly drive a nail into the coffin of the idea that the parent company would for some insane, illogical reason, volunteer to pick up Rangers’ tab.
I know, I know. It has been printed in a Scottish newspaper, so we should not take it too seriously. However, it might just be that after the disorganised shambles of yesterday’s financial presentation, that the Scottish media senses that the winds are about to change regarding Rangers. While Scottish demographics dictate that editors tread lightly lest they be seen by their customers to have actually caused the deal to collapse, Johnston’s admissions yesterday now clear a path for a bit of honesty to creep into stories. The Daily Record’s circulation amongst Celtic supporters never recovered from the infamous “Thugs and Thieves” headline. This tale is often recited by news editors. No one wants to lose a large number of Rangers fans at a time when newspapers are struggling to survive.
However, it is encouraging to see a glimmer of sanity emerge from its long hibernation. With Glenn Gibbons also taking a swing at the architect of Rangers’ current situation, Sir David Murray, it looks like spring might finally be here.
For Rangers fans, recent events will all be a shock and difficult to absorb. I can say in all sincerity that the best thing for your club, and for Scottish football, is that Rangers FC is driven into administration by the fastest legal path. It is a high risk strategy, and one which does not have a certain outcome. However, the longer this cancer is left to grow before surgery, the lower the chances that your team will survive its removal. Forget the gloating of your Celtic supporting workmates and worry more about having a football team for your son to support.
I will cover a range of scenarios for how administration would work and how this situation could resolve itself in a separate post soon. However, those who say that liquidation could never happen, do not understand the situation. The earlier this problem is pushed to a resolution the better for all concerned.