05-11-2015, 15:36
(05-11-2015, 13:28)Fredstersafool Wrote: If your debt was being repaid why did Whyte put the club in admin??simple answer the club never had money to pay it's debts.
As fir handing back titles etc there's a case for yes and no,yes the clubs owners brought in better players without the money and therefore cheated in that respect,however the players didn't cheat and deserve there medals
The balance sheet debt was being paid down, reducing by about £1m a year, even while we retained some high earners. Murray was forced to sell the company in the context of reducing the debts of the Murray group, not because Rangers wasn't sustainable as an entity. When Whyte came in he immediately increased our cash outflows with player salary increases, payoffs and higher financing expenses, as well as racking up penalties for non payment of NI. That's why we went into admin.