October 2011: In the first mainstream feature on the case, the BBC air a documentary proving that Craig Whyte had been banned from holding a director position in UK companies for 7 years for ‘putting assets out of the reach of creditors’. BBC is banned from Ibrox and Whyte claims he will sue the BBC for presenting false evidence - but later admits that he was disqualified. Rather amusingly he admits this the same day he reveals Rangers have reduced their debt to £14m…. (They hadn’t). The SFA stay silent on the matter and the writ received by the BBC in February 2012 has since vanished.
30 November 2011: Rangers PLC release un-audited accounts for the year 2010/2011 revealing profits of £2 million and NET Assets of £76m. The accounts are NOT signed by an auditor leading to rumours all is not well in Ibrox.
January 2012: RTC explains in detail Succulent Lamb Journalism… the phrase becomes a defining point of the story, along with ‘Internet Bampots’, coined by Hugh Keevins.
18 January 2012: The ‘Big Tax Case’ concludes. We still await the findings…
13 February 2012: Rangers file papers at the Court of Session giving notice of their intention to enter administration within 7 days…
14 February 2012: HMRC petition the Court of Session to allow them to appoint administrators. After a short hearing, HMRC withdraw the motion and Rangers PLC promptly appoints the now infamous Duff & Phelps as administrators. On Valentines eve, Craig Whyte stands on the steps of Ibrox and announces to the angry mob the unthinkable… Rangers FC PLC is now in administration. That evening it is confirmed that HMRC had pushed for administration over £9 million in unpaid VAT, PAYE and NI since the Whyte takeover. This later rises to £18m.
15 February 2012: The SPL immediately deducts Rangers (IA) 10 points for entering administration, as per league rules. Possibly the last time they follow their own rules throughout this saga. Bizarrely, Rangers (IA) pushes ahead with the proposed signing of Daniel Cousin on wages of £7500 a week. The SFA make no comment, despite this being against the rules for a club in administration.
David Murray, in typical fashion, professes surprise at events that RTC warned about 12 months earlier while Murray was still in charge. Murray also says:
“Firstly, there has been no decision, and there is no present indication as to the timing of a decision, from the first-tier tax tribunal concerning the potential claim from HMRC of £36.5m excluding interest and penalties. Secondly, legal opinion on the strength of the club’s case remains favourable.”
21 February 2012: Daily Mail confirm what RTC told us last year, by confirming that Ticketus bought 100,000 season tickets at Ibrox over the next 4 years. It was this money that Whyte used to buy the club. Rangers fans are up in arms. Even though they ignored the warnings a year earlier. The SFA announce that Lord Nimmo Smith will chair an inquiry into the circumstances leading to administration.
25 February 2012: The Sun on Sunday launches by printing what they claim is a ‘side letter’ given to Rangers players. A financial expert tells them:
“Number one, you are going to get £122,000 and number two you get £1,200 for a first-team game.
“It equates to salary as far as I am concerned. I would say this sort of letter would be a central thread in the big tax case.”
RTC will later confirm they are correct.
