Arsenal Shares: Previous Board Alerted Whyte


Reports that Craig Whyte has been “asset stripping” and selling off Rangers’ heirlooms have understandably angered many fans.

However, painting Craig Whyte as the devil incarnate on this issue might be a little hasty. It appears that members of the old board actually suggested to Whyte that these shares could be sold for cash.

Rangers’ April 2011 Financial Report (prepared on 18 May for Whyte just after the takeover) contained the following:

It is understandable that every weapon in the armoury is being deployed to get Whyte out, but it is also clear that truth and context might be casualties in this war. From the tone and positioning in the report, these shares were suggested to Whyte as a source of cash. No other “family silver” is listed.

Had Whyte’s takeover of the club not happened would Rangers have sold their Arsenal shares anyway? The issue of concern for Rangers fans should not be the sale of the Arsenal shares themselves, but rather what has happened to the proceeds. However, simply accusing Whyte of misappropriating £188k would carry legal risks and might seem trivial compared with recent accusations. The emotional appeal of the sixteen shares gifted to the club in 1910 is a much more potent weapon.

Public relations at its murky best!

About rangerstaxcase
I have information on Rangers' tax case, and I will use this blog to provide the details of what Rangers FC have done, why it was illegal, and what the implications for what was (updated) one of the largest football clubs in Britain.

1,564 Responses to Arsenal Shares: Previous Board Alerted Whyte

  1. duggie73 says:

    Your burd’s a tranny, you’re fecked on EBT’s, the UDA are gonnae get ye.
    I take it that’s the entirety of the attempts to get Whyte to agree a sale at bargain basement prices?

  2. TheBlackKnight says:

    I wonder if Messrs Smith and Ogilvie believe their integrity has been “compromised”?

  3. Cortes says:

    Song going through my head:

    Ha Ha hoo hoo we’re gonna get along without ya now

  4. mollocate says:

    how does this pan out then for scottish society- if there is such a thing.

  5. rab says:

    RTC and his band of bloggers.

    CHAPEAU.

  6. Garry88 says:

    TheBlackKnight says:
    26/02/2012 at 12:34 am ……. Im Sorry TBK ….. BUT You should have known better than that Ogilvie Smith & Integrity all in the same sentence …… Na Just Canny See It….

  7. Paulsatim says:

    Cortes says:
    26/02/2012 at 12:39 am

    you must pass that to Green Brigade in the off chance the game takes place on 25th March

  8. Hugh McEwan says:

    TheBlackKnight says:
    26/02/2012 at 12:34 am

    ===================

    This generations Farrygate may be upon us.

  9. stuff says:

    Weird, flicking through Sky and the programmes ( in order ) are almost prophetic;

    Supercasino
    Copland
    Criminal Minds
    grimm
    The biggest Loser
    True Justice
    Payback
    The big bang
    CSI

    or am i seeing things that are not there?

  10. scapa says:

    TheBlackKnight says:

    26/02/2012 at 12:34 am

    I wonder if Messrs Smith and Ogilvie believe their integrity has been “compromised”?

    Nearly chocked on my dram, isn’t there an oxymoron in there somewhere?

  11. MERIDIAN says:

    As Rumsfeld so eloquently put – MAKE NO MISTAKE – THESE ARE THE WORST OF THE WORST

  12. Tommy says:

    front page of today’s Sunday Herald

  13. BELLAMY1 says:

    Cortes says:
    26/02/2012 at 12:39 am
    0 0 i
    Rate This
    Song going through my head:

    Ha Ha hoo hoo we’re gonna get along without ya now

    Thursday night Disco’s @ the chapel hall!

    You’ve taken me back to my youth – innocent days and then I thought of the crooked agent who uses her 1st name as his surname – this game is so rotten

  14. Fritz Agrandoldteam says:

    toby says:
    26/02/2012 at 12:31 am

    The Scotsman article finishes by saying the the big tax bill “could tip them into insolvency” – er, what do you they think administration is????

  15. Fritz Agrandoldteam says:

    Sorry – meant the Sun article!

  16. Brenda says:

    Cortes @ 12:39am
    Ah those were the days 1978/79 I believe Viola Wills lol 🙂

  17. BELLAMY1 says:

    Born To Be Alive/Rendezvous – Patrick Hernandez – Those Were The Days Mary!

  18. Can someone on here answer me a question that has been bugging me because I’m a thick Falkirk Supporter, who has had too much to drink.

    HMRC launched a winding up order on us for 200K last year (2 months without a game due to weather) , YET they ALLOWED Rangers to build up a 8m – 11m debt in unpaid tax for this season alone and did not lift a finger until Whyte himself announced he was going to put Rangers into administration.

    Why is this?

    Falkirk major shareholders are Business Angels and philanthropists ( Martin Ritchie – Spider Systems and Sandy Alexander – Schuh) , with good character and fantastic record of business achievement and community benefit.

    Whyte has had plenty of companies collapse after collapse and screws people at every turn, Yet they run up a massive tax bill, but Falkirk FC cannot ask for as wee bit discretion during the worst winter in decades.

    Why did HMRC try to close us down and not them?
    I don’t get it!

    PS I’m really interested in this as I want a 3rd Scottish cup for Falkirk!!! 🙂

  19. toby says:

    At great length it has been discussed what is Administration and its bedfellow Liquidation. I know the difference you the difference – soon everyone with an interest in Scottish football and beyond is going to know the difference. This article is now the first public acknowledgement the second letters exist – other than rumour & speculation or a Darryl fudge. This is what RTC first started to document about and the reticence of media to cover it. They are falling over themselves now because its the big show in town. RTC deserves all the rightful plaudits today – because genuinely he ran with the story and it has become something quite extraordinary. Bigger than the facts of the story itself, which are breathtaking in British sport but the way in which professionals and just generally interested parties from different areas discussed and hypothesised on reasons , strategies, possibilties etc.
    RTC – Chapeau is not big enough a word, Hat is even shorter.
    I believe a title could be spare shortly.. if you were so inclined. Sir RTC?

    Sir , can you spare a pound ?. i know a man thats got just one phonecall….

  20. Chris Barrie says:

    I wish I could get excited by the story in The Sun but I can’t because it’s The Sun!!

  21. Stargazor says:

    Whyte should be made to get back on the sinking sink.

    Maybe have to get the guy at the Livorno Coast Guard to give Whytee boy a phone call…

  22. Stargazor says:

    ooops sink read ship

  23. paulmac says:

    I had the pleasure to catch 10 mins of your call about 6.30pm Sat night…Jabba and Irish Tom where talking to a guy called Gerry I think his name was..

    The latter point Gerry was making was that the MSM made no similar efforts (as is being made now by the MSM on behalf of Rangers) that Scottish football needed Celtic back in 94…to which Jabba countered…”the world has changed since then”? WTF!..so in essence Jim…you are saying Gerry is correct…

    The other issue that MSM seem to bypass in their Celtic and Scottish football need Rangers eulogies…is based on the principle…that the SPL would not be competative without Rangers?

    As a reminder…if anyone attempts to engage in such a discussion it is worth reminding those that spout this nonsense…Rangers Tax evasion made the league competative…without it…Celtic would have made it a constant one horse race…

    So the idea of saving rangers for a competative SPL is nonsense.

  24. Cortes says:

    Toby, and others,

    Sombrero

  25. scapa says:

    By TOM ENGLISH
    Published on Sunday 26 February 2012 00:00

    FORMER Rangers director Paul Murray says he will have assembled a team of “like-minded” businessmen by the end of this week to form a consortium to take over crisis-hit Rangers football club.

    Murray, who is heading the buyout consortium, insisted that he will also know how much money they are prepared to inject to try to convince administrators that they rescue the Premier League club.

    “By the end of next week I will have a clear view of not just the members of the consortium but how much money we think we can raise,” said Murray, who held an initial meeting with the club administrators, Duff & Phelps, on Friday.

    “The people I’m talking to have been there a long time, people who were looking at the club this time last year so the interest has always been there. It’s not like people are starting from absolute scratch.

    “The people who are expressing interest at the moment are not doing it for profit-making reasons, they’re doing it to try and rescue the club and put it on a solid foundation.”

    Murray said controversial businessman Dave King may be involved, despite his personal tax problems in South Africa. “He’s a former colleague of mine and a friend. I’d like him to be involved.” ”

    Rangers went into administration earlier this month over an unpaid £9.5 million owed to HMRC. Owner Craig Whyte took over the club last May but his financial affairs are currently the subject of a police investigation and his takeover is also being probed by the Scottish FA for potential breach of league rules.

  26. TheBlackKnight says:

    Hugh McEwan on 26/02/2012 at 12:47 am said:
     0 0 Rate This
    TheBlackKnight says:
    26/02/2012 at 12:34 am

    ===================

    This generations Farrygate may be upon us.
    •••••••••••••••••••••••••••••••••••••

    Hugh, This is bigger than Farrygate!!! This runs deep to the very core of Scottish Football and some !!!! The domino effect may come into play. Many heads may fall.

    They told us we were paranoid and nobody would believe us! This is a “Rubicon” moment.

    Hail Hail Caesar! ālea iacta set

  27. Garry88 says:

    scapa says:
    26/02/2012 at 1:54 am ………. Well P Murray & all the other potential bidders had better get a shifty on , As the new revelations suggest there is no time left for this rudderless juggernaut , Que ‘ Sera Sera ….

  28. paulmac says:

    Fritz Agrandoldteam says:
    26/02/2012 at 1:18 am

    toby says:
    26/02/2012 at 12:31 am

    The Scotsman article finishes by saying the the big tax bill “could tip them into insolvency” – er, what do you they think administration is????
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    I did have a chuckle when I read that….

  29. Ray Charles says:

    The scanned contract from today’s Sun.

  30. Big Swee says:

    If proved that custodians within the SFA were indeed aware and failed to act of the contracts issue they are surely finished.

    Stewart Regan must be wondering what he has become embroiled in since accepting the post and if he is to retain any credibility there must be a clear and transparent investigation into who is responsible and this should also mean extending the current investigation to ensure we can trust the body who represent our national game.

  31. paulmac says:

    scapa says:
    26/02/2012 at 1:54 am

    Murray said controversial businessman Dave King may be involved, despite his personal tax problems in South Africa. “He’s a former colleague of mine and a friend. I’d like him to be involved.” ”
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Astounding on so many levels….

    To openly welcome the involvement of Dave King and the list of crimes he has been charged with and the crimes he has been convicted of beggers belief…

    Is this the sum total of people interested in owning rangers…previous directors Paul Murray and Dave King..the guys who assisted in creating the mess?…dear oh dear…

    Or are they so desperate to get a hold of the club to supress anymore info coming out?

    Wonder why there is no truimphalist naming of the consortium..to give gravitas to their intentions being serious?

  32. Garry88 says:

    No Smoke without fire …. A well used typical every day throwaway phrase , that is indeed the case with the 2nd contract rumours , its strange that some times in life people divulge INFO without any peer pressure to do so , step up Darrulll & by the way as most already know he’s actually tryed a wee bit harder than the rest of the MSM stooges …… Neway’s Aye Darrulll ‘ on more than 1 occasion he revealed willingly/otherwise ? only he knows , more than he should/could have Hmmmm ….. about 2nd contracts i for 1 have always found it difficult to take Darrulll seriously as i think he is very petulant & 1 call in particular only 3/4 weeks ago ” Hammer On Nail Moment ” some fella on SSB disagreeing with Darrulll ….. Then Wee Petulant Darrulll says to the caller ” Aye If That’s So How Have Rangers Won 3iar ” so for me there & then i knew poor Darrulll was @ the end of his particular journey in the rag tag game he represents as he Seemed & i use that word Seemed simply because i dont know if thats the case to know the game was indeed up …. Fast Forward Sh1t Storm Week questions to be answered from SFA / SPL / POLIS Allegedly , NUJ Code pi$$ed all over ‘ well well myOmy i thank you Darrulll for being so pedantic & petulant BUT Darrulll for being the gift that keeps On giving Thanx Bud your a real star Hail X 2 …..

  33. Lucculent Sam says:

    Yet more comedy gold from the gift that keeps on giving.

    Unless he’s preparing the MSM for his new career in stand-up comedy, Sally’s much more stupid than that “the big hoose must stay open” chap. The Grauniad has an interview with Sally: “I know David Murray as well as a lot of people and better than most. He’ll admit he made mistakes and, of course, he made mistakes but I am of the opinion that when he was in charge of the club he always did his best for the club.”.

    If this was Murray always doing his best for the club, I wonder what could have been achieved if he did his worst.

    Here’s the link: http://www.guardian.co.uk/football/2012/feb/25/ally-mccoist-rangers

  34. paulmac says:

    Big Swee says:
    26/02/2012 at 2:05 am

    If proved that custodians within the SFA were indeed aware and failed to act of the contracts issue they are surely finished.

    Stewart Regan must be wondering what he has become embroiled in since accepting the post and if he is to retain any credibility there must be a clear and transparent investigation into who is responsible and this should also mean extending the current investigation to ensure we can trust the body who represent our national game.
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    That indeed is the show stopping question for the SPL and the SFA…where they provided a copy of this letter as part of the regulatory requirments..

    If not…Rangers are in breach of FIFA..UEFA SPL AND SFA as they would have been unaware of its existence..and why would rangers wish to withold its existence…unless it was in breach of the regulations?…The clubs administartor would know this.

    If Yes…it becomes a secondary contract of employment running in tandem with another employment of contract which means Rangers the SPL and the SFA are in breach of FIFA and UEFA stated regulations.

    The mess just keeps on growing..

  35. Johnboy says:

    The scanned letter from the Sun on Sunday confirms that the EBT recommendations came from “the Board of Rangers Football Club”.
    Of which Campbell Ogilvie is a member.
    Kind of makes his position as SFA President untenable, does it not?
    Fit and Proper Person? Over to you, Mr Regan.

  36. Johnboy says:

    Sorry, should have said: “Of which Campbell Ogilvie WAS a member (at the relevant time).”

  37. NeilR says:

    Ray Charles says:
    26/02/2012 at 2:04 am
    0 0 Rate This
    The scanned contract from today’s Sun.


    ____________________________________

    If genuine (and I expect it is) this is dynamite, and proof of incompetence on a grand scale within Rangers. I find it hard to believe that any reputable tax adviser was party to the drafting or issuance of this letter.

    Were I an executive director of Rangers during the time these payments were made, and especially if I were involved in any active way with this system of payments, I would be extremely worried at this point about a number of things. The potential for my acquiring personal liability for the resulting losses to the company is probably at the top of the list, but if I had financial expertise and were directly involved with both the execution of the payments and their reporting (or not) to HMRC, I would be asking my lawyer what is the sentencing policy in relation to tax fraud.

    The following is extracted from HMRC’s explanation of their Criminal Investigation Policy:

    Examples of the kind of circumstances in which HMRC will generally consider commencing a criminal, rather than civil investigations are:

    Where an individual holds a position of trust or responsibility;
    Where deliberate concealment, deception, conspiracy or corruption is suspected;
    Where the perpetrator has committed previous offences / there is a repeated course of unlawful conduct or previous civil action

  38. paulmac says:

    tenerifetim says:
    25/02/2012 at 11:45 pm
    3 0 i
    Rate This
    The Loving Cup – a bit scary!! everyone who drank from it is MIA!!
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    Does CW have a speach impediment?

    um..aye..err..um…aye..Stoke City…um err,,aye..its tradition…err..ummm..aye..aye…err..to Queen and bohemian Rhapsody!

    Thinking and talking at the same time,…not his strongest trait

  39. paulmac says:

    Johnboy says:
    26/02/2012 at 2:34 am

    The scanned letter from the Sun on Sunday confirms that the EBT recommendations came from “the Board of Rangers Football Club”.
    Of which Campbell Ogilvie is a member.
    Kind of makes his position as SFA President untenable, does it not?
    Fit and Proper Person? Over to you, Mr Regan.
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    One has to ask…was there an enthusiasm for Minty to see certain people employed within the SFA?

  40. VITAL Signs says:

    Watergate started with what appeared a relatively minor event, an office break-in, and ended with the downing of the president of the United States. In Scottish terms, Gersgate has a similar potential to escalate to seismic proportions. Political, football and corporate governance have all become embroiled in this saga.

    It remains to be seen if all the villains of this sordid piece get their just deserts but there will be a lot of people currently looking over their shoulders!

    The MSM have already been outed big time and only now are pointing their sharpened pencils at the prone RFC. Their are many other targets awaiting their scrutiny. The MSM has an opportunity to salvage some pride by pursuing them.

    While Rangers fans may disagree, it would be truly exhilarating if RFC’s demise resulted in increased fairness and integrity across the spectrum of Scottish society.

  41. Garry88 says:

    Whilst i agree whole-heartedly with all you say particularly the last sentence , i am very worried for the Nation i.e. last year Celtic appealed about the referees & we all know the Tsunami that came in the direction of Celtic people players & fans alike …. I do NOT think this ” wee best country in the world ” are intelligent enough to deal with the fall out here’s hoping justice is swift & our wee country has a chance to breathe ‘ who knows as wee bob sang ” The Times They Are A Changing ” .

  42. Private Land says:

    shug says: (Edit)

    26/02/2012 at 12:27 am

    Rangers weren’t undone by their fans. They were undone by their owner and directors.
    _________________________________________________________________________

    No Shug, Rangers were undone by Celtic. The obsession to win the European Cup was what drove Murray into the cycle of spending that led to their demise.

    Celtic’s successes on the field, arrived at though modest means and good management could not be emulated by Rangers in the same fashion. Murray decided to persue the dream with a little “assistance”.

    Worked out well hasn’t it?

  43. Garry88 says:

    Rangers have destroyed the game in scotland , Rangers have tarnished the very essence of ” SPORT ” Rangers are actively trying to avoid paying their duties to society & the TAX MAN , Rangers still have Bigotry @ the very core of their ( CLUB ) support home & away , Rangers indeed FULLY EXPECT to be parachuted straight back into the SPL in the event of Liquidation , SPORTING INTEGRITY gimme A break the arrogance of the Club has filtered down to the fans this so called Scottish Institution Discriminated against ” Catholics ” for over 110 years it took all that time to Adopt / Change their signing policy ,THIS IS 1 OF THE MANY REASONS THEY ARE STARING INTO THE ABYSS , & Celtic & Scottish Football NEEDS Rangers myOmy i fully expect Rangers to re-appear in some form or guise BUT their 140 years Existance / History is gone now that’s way beyond help they are NOT A Viable Purchase for anyone unless they are willing to throw lets say 150 mil @ it & this is ONLY to preserve History & Achievements , BUT seen as how its only football i now Know the ONLY way forward is LIQUIDATION , i.e. throw away the rubbish & start again with a hopefully more Socially Acceptable / Moderately Minded support with custodians of the club Who Rather Than Living Every Day To Beat Celtic & Their Proud Historical Achievements ….. Concentrate on Fiscal management / Corporate Governance / Social Acceptability With A NON Politically or Religiously Motivated stance & instead play football as there are 11 OTHER TEAMS in the SPL , i see a very bleak future for Rangers in their current form i have absolutely no sympathy whatsoever for the Hooligan / Supremacist / BigotS which attaches itself to this club , i grew up in the 1980’s & was always told ” know your place ” these are the reasons why NOT A single soul will shed A single tear when the inevitable happens ….. THIS IS THE YEAR 2012 Ditch All Known Allegiances with you know who , Start afresh Ditch The Superiority Fallacy & Step Forward as a football team NOT A POLITICAL HATE VEHICLE .

  44. Garry88 says:

    excuse the caps , i cant do bold …

  45. k3lly says:

    As bad as the latest revelations and rumours are (and if I had written the script myself, it couldn’t have been any worse), Mr Regan and Co have a once in a lifetime opportunity to clean up football in this country. I hope he seizes the opportunity, and exposes every scam and lie no matter what the fallout will be. There really shouldn’t be any more skeletons hidden in closets when this is done; attempting a cover up now will only bring Regan & Co down too. Truth will out (eventually).

    It’s been a long, long time coming. And at long, long last that mob are being shown up for what they always were.

    Fiat justitia ruat caelum, Mr Regan: it is the only way.

  46. brogan rogan trevino and hogan says:

    The copy side letter produced– provided it is true— provided it i one of a number– sinks Rangers Football Club!

    This is irrespective of the outcome of the Big Tax case, irrespective of the financiall constraints currently facing the club, irrespective of everything!

    What it means, is that the Directors of that football club, repeatedly, deliberately abd willfully, misled the SFA, the SPL and all of the teams represented in those organisations. Irrespective of whether these contracts/letters are legal or illegal, it demonstrates that the officials concerned were deliberately not prepared to make full disclosure to their colleagues as they were duty bound to do.

    If they are seen to be prepared to manipulate the rules to suit their own ends in financial matters, then it follows that they were never fit to judge any other kind of matter impartially and without bias or favour….. there will always now be the stink in everything that they do and have done– whether selfish or entirely innocent. Put simply, they are just not trustworthy.

    Every former Director od Rangers Football Club should hang their head in shame this morning and immediately declare themselves as gone and departed from all future involvement in Scottish or British Sport.

    Very serious questions must be asked about those who managed that club during the EBT Period.

    I don’t want this to sound like a witchunt but guys like Walter Smith, Alex McLeish, Advocaat and so on all have to face some questions.

    Gordon Smith, finds himself in a dreadful position– as former agent and SFA executive.

    The other officers of all bodies have to ask themselves if they have failed to implement clear rules and whether they have been party to, or subjected to, lies for more than a decade?

  47. stunney says:

    D. McIntyre of Rangers and SPL fame, and C. Ogilvie of Rangers and SFA fame, might want to have a word with their lawyers. If N. Doncaster and S. Regan were listening to that call from Tony, they might want to talk to their in-house legal advisers too asap about the need to launch an investigation about matters arising from said call.

    If Rangers fielded players who were improperly and fraudulently registered over the last dozen years, and if their tax obligations were therefore deliberately avoided, then every honour they won during the relevant period should be officially stripped from them.

    Celtic and other SPL clubs would have been deliberately disadvantaged on the field of play, and off it to the tune of tens of millions of pounds.

    This allegation/suspicion is now very clearly in the public domain.

    Whether Rangers are liquidated or not, the future of the game in Scotland is now in serious doubt if this matter is not investigated fully, and if justice in regard to it is not done and seen to be done.

    Celtic-minded people of integrity, fairness, and ability, as well as similar people who sympathise with other clubs, will step forward if this is not done and call all the governing bodies to account in the court of public opinon, and beyond if necessary.

    No Justice? No Peace!

  48. Garry88 says:

    stunney says:
    26/02/2012 at 4:25 am …… Now i dont have that elegance in my posts Stunney BUT you are bang on , its a ” burst baw ” if they try & gloss it over every man & his dug will kick up fuQ well thats what would happen in real life Hmmm….. This has went Global & will be treated as such hopefully all these BS — SFA Commitees will be finally disbanded & evolution for the SFA through transparency can be achieved , ive only waited all my life for feQin change thats all just my whole life nearly 40 years …. Never too late to fix it ……

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