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View Full Version : who owns Ibrox stadium?



Santos
08-03-2012, 17:16
if the unthinkable happened & we had to set up a newco, does Ibrox get sold off? or is it part of another company?

can someone please explain this to me in simple terms :o

ThatsWhyWeirChamps
08-03-2012, 17:18
Ibrox is owned by Rangers, which is owned Craig Whyte's Rangers FC Group. Any assets of Rangers, ie players, stadium, training ground, would all be transferred to a NewCo, leaving behind only the shell of the Old Company and it's debts.

iaatpies
08-03-2012, 17:21
Ibrox is owned by Rangers, which is owned Craig Whyte's Rangers FC Group. Any assets of Rangers, ie players, stadium, training ground, would all be transferred to a NewCo, leaving behind only the shell of the Old Company and it's debts.

No it isnt.

Ibrox is owned by Rangers. The majority shareholder is Craig Whyte's Rangers FC group but since they don't own 100% of the share equity and haven't taken the club into private ownership, they do not own the club and have no legal entitlement to any of it's assets.

ThatsWhyWeirChamps
08-03-2012, 17:25
No it isnt.

Ibrox is owned by Rangers. The majority shareholder is Craig Whyte's Rangers FC group but since they don't own 100% of the share equity and haven't taken the club into private ownership, they do not own the club and have no legal entitlement to any of it's assets.

He owns the Floating Charge over ALL of our assets - hence why he's the Secured Creditor. So yes, he and his company do effectively own Rangers and it's assets.

Shares at this moment in time, are irrelevant and worthless. If we are Liquidated, Craig Whyte retains ownership of all our assets and can transfer them to a NewCo, which he would own 100% of.

iaatpies
08-03-2012, 17:29
He owns the Floating Charge over ALL of our assets - hence why he's the Secured Creditor. So yes, he and his company do effectively own Rangers and it's assets.

Shares at this moment in time, are irrelevant and worthless. If we are Liquidated, Craig Whyte retains ownership of all our assets and can transfer them to a NewCo, which he would own 100% of.

That still doesnt give them ownership of any assets. As secured creditor he is entitled to first pick of any money raised by the administrators through the sale of assets, whether thats Ibrox and Auchenhowie or the entire playing squad, but he does not legally own any of the assets of the club.

Rangers own it until such time as the asset is sold - the money is then divided appropriately.

Santos
08-03-2012, 18:05
That still doesnt give them ownership of any assets. As secured creditor he is entitled to first pick of any money raised by the administrators through the sale of assets, whether thats Ibrox and Auchenhowie or the entire playing squad, but he does not legally own any of the assets of the club.

Rangers own it until such time as the asset is sold - the money is then divided appropriately.

so craig whyte would have to sell Ibrox to the newco:confused: