Let’s cut to the chase. Where is the Ticketus money?
The Daily Record allege that the Whyte Knight tapped Ticketus (or “Ticket Bus” as big DJ called them on Real Radio) for £24.4 million.
During a choreographed interview with Tom English in Scotland on Sunday, the saviour of Rangers challenged the accuracy of the figures saying it was “closer to £20 million” so that is something else that is unclear.
Until writs are issued or retractions are made let’s go with the Daily Record figures for now.
So that’s £24million and change.
That’s more than the club is worth borrowed on future season ticket sales.
What happened to it?
Where is it?
If he didn’t use it to buy the club then Rangers are currently £42million in the hole.
However if he did use the Ticketus money to pay off the bank then he actually did buy the club for a quid!
A lot of the confusion over Craig Whyte’s plans for the club and uncertainty over his intentions could be answered if we knew the whereabouts of this money.
This could all be cleared up if audited accounts were published. Mr Whyte’s reason for the delay in getting the accounts published is the uncertainty over the tax case. That uncertainty was there last year. I believe it is his concern about the auditors having doubts about Rangers being a going concern that prevents publication.
I have been charting Rangers impending financial catastrophe since 2009.
That story cannot be told without reference to Sir David Murray and his indebted empire, but some of the mainstream media still seem intent on trying.
I have been writing specifically on this Rangers tax story since April 2010.
In that time, I have used outlets such as the News of the World and Super Scoreboard on Radio Clyde to get the news of the tax story out there.
However, it has been mainly on this blog that I have tried to keep the denizens of Planet Fitba up to speed.
Telling the story of the Rangers tax case and the wider financial problems of the club has been a victory for new media.
This story is very much in the mainstream now.
I have war gamed various scenarios for Rangers with business annalists recently and there aren’t any of them that end well for the Ibrox club (1873).
When I started this work the response from the blue bit of Planet Fitba was to scoff derisively that such a fate could befall “the rainjurz” and that I was a fantasist.
Those dignified British patriots may wish to revisit their opinion of my work.
One of the more enjoyable aspects of this story for me is that people who could have made a difference for Rangers didn’t act to save their club despite being provided with top class information.
The reason for this is, I suspect, was that the warning came from a Fenian in Donegal.
It is now too late for them to do anything.
All they can do now is brace for impact.
Soon they will realise that the future of their club, like their season ticket money for the next four years, has probably gone.