:00:11. > :00:13.tonight. We are waiting for the Tonight on Newsnight Scotland, one
:00:14. > :00:18.of the Rangers bidders say they will withdraw, unless a season
:00:18. > :00:21.ticket deal is written off. How serious are the offers for the
:00:21. > :00:26.club? And we will have an exclusive
:00:26. > :00:30.report on Scotland's first satellite, being built in Maryhill.
:00:30. > :00:32.Good evening. The rollercoaster for Rangers fans continues.
:00:32. > :00:35.At the weekend, it became clear that four potential bidders had
:00:35. > :00:39.expressed interest in buying the stricken football club.
:00:39. > :00:42.But this evening, it emerged that at least one of the four will only
:00:42. > :00:45.make a formal offer if a season ticket deal is scrapped.
:00:45. > :00:49.The Court of Session is now considering whether that �20
:00:49. > :00:52.million loan against future season ticket sales should be written off.
:00:52. > :00:55.This evening, in the shadow of Ibrox Stadium, fans and pundits
:00:55. > :01:05.attended a live radio debate on the future of the 140-year-old
:01:05. > :01:14.
:01:14. > :01:18.institution. Our reporter David It tonight, Rangers fans took part
:01:18. > :01:25.in a Radio 5 it debate about the extraordinary situation the club
:01:25. > :01:31.finds itself in. It received a blunt and and it warning from
:01:31. > :01:39.administrators last month that it may not even be able to fill felt
:01:39. > :01:46.this at season for's fixtures. you mentioned Rangers and
:01:46. > :01:50.administration in the 1990s, you would have laughed at them. Last
:01:50. > :01:57.week, a number of potential bidders expressed interest and buying the
:01:57. > :02:01.club and offered hope for the manager Ally McCoist. It has been a
:02:01. > :02:08.very tough month, but there has been a bit of light at the end of
:02:08. > :02:13.the tunnel with some positive noises coming out. Despite this
:02:13. > :02:18.call at Dundee United buoyant Saturday, Rangers are still
:02:18. > :02:24.struggling on the pitch and could see Celtic winning the league at
:02:24. > :02:30.Ibrox cent next Sunday's Old Firm game. There are still significant
:02:30. > :02:37.questions to be answered of the field - most notably, who actually
:02:38. > :02:47.owns the club? Great White says he is the major creditor and remains
:02:48. > :02:51.
:02:51. > :02:55.the order. -- Craig Whyte. And what about all this ticket money?
:02:55. > :03:02.Administrators are trying to get the �20 million Ticketus deal
:03:02. > :03:07.annulled. But it is getting more complicated than that, because
:03:07. > :03:14.Ticketus are now part of a consortium to buy the club. So
:03:14. > :03:24.where is the cash going to come from? With season ticket money
:03:24. > :03:24.
:03:24. > :03:28.locked up and that deal, what are the options for the club? European
:03:28. > :03:36.football would help, but if the club is still an administration,
:03:36. > :03:40.that will not happen. One argument is that if the tax case is resolved,
:03:41. > :03:45.that would allow more clarity and bidders to come forward to do real
:03:45. > :03:55.of force on the table. Some of the bidders have said, Paul Murray been
:03:55. > :03:57.
:03:57. > :04:06.one, says that the tax case as the red herring. He says that with the
:04:06. > :04:10.club in administration, F the debts when from 50 million to �100
:04:10. > :04:18.million, it would some went mean a difference and the amount people
:04:18. > :04:21.would receive back. But some are still optimistic. Even with the tax
:04:21. > :04:26.situation hanging over the club, there are still people interested
:04:26. > :04:33.in taking over the club, saw will find something good will come out
:04:33. > :04:40.of it. I do not think the club could be any lower now and the only
:04:40. > :04:47.way is up. I will like to think this is a wake-up call to have
:04:47. > :04:57.sound finances. It is going to be tough, but we have to do it. A but
:04:57. > :05:01.
:05:01. > :05:09.the lessons will be learned and acted upon remains to be seen,.
:05:09. > :05:17.am joined by sports journalist Graham Spears to anti-business
:05:17. > :05:24.analyst. What are they the options for the administrators as they look
:05:24. > :05:29.to the future? A a understand the have gone into administration for
:05:29. > :05:37.the survival of the club as the growing concern. The only exit that
:05:37. > :05:44.would achieve that would be a voluntary arrangement. The this is
:05:45. > :05:54.cutting a deal with the taxman? yes, otherwise, the only way for
:05:55. > :05:55.
:05:55. > :06:00.them to come out is liquidation. What is the more likely? It is very
:06:00. > :06:06.difficult to say. For people come out of the look at, the information
:06:06. > :06:10.coming to us is very sketchy. It seems very unlikely that the tax
:06:10. > :06:13.people could give any indication whether they would accept a deal
:06:13. > :06:20.when they do not even know what is on the table and a not entirely
:06:20. > :06:26.clear about how much money they are owed. We are also have the question
:06:26. > :06:32.of the bidders and what they are buying. We are not privy to all the
:06:32. > :06:35.ins and outs like the bidders, but we know there are some unknowns and
:06:35. > :06:44.it is not entirely clear what anyone is buying if they were to
:06:44. > :06:49.purchase Rangers football club. if they were looking to buy the
:06:49. > :06:54.club as it is, but if they are looking to buy the business and
:06:54. > :07:04.assets, that is quite different. If they are going to buy the company
:07:04. > :07:06.
:07:06. > :07:16.there are clear advantages to them. I am no great football expert --
:07:16. > :07:19.neither am I!. Buying the club would seem to be particularly
:07:19. > :07:29.advantageous, but that is not going to be possible unless the deal can
:07:29. > :07:29.
:07:29. > :07:36.be struck with Revenue and Customs. The intriguing thing is that the
:07:36. > :07:43.Revenue and Customs position on this. If Rangers lose the tax case,
:07:43. > :07:50.if they are due 40 or �50 million, the school of thought is that they
:07:50. > :07:58.cut a deal with Rangers or secondly, they play hard ball and send a
:07:58. > :08:06.message to the rest of British football, no more tax avoidance.
:08:06. > :08:15.But the scenery is very interesting. It has shifted in the last few days.
:08:15. > :08:23.The administrators Duff and Phelps and giving a clear signals that as
:08:23. > :08:33.see his possible. It appears the solution could be negotiated. It is
:08:33. > :08:35.
:08:35. > :08:42.clear to me that the administrators and I also think Paul Murray and
:08:42. > :08:46.his consortium have probably spoken to the Customs and Excise as well.
:08:46. > :08:54.He seems to be in a rush and why would he do that prior to the big
:08:54. > :09:03.tax case been declared? It seems to me he also has information about
:09:03. > :09:07.each are in Sea. Favourably. Would it be prudent to have that sort of
:09:07. > :09:15.negotiation with the Revenue as you tried to secure the business
:09:15. > :09:20.question mark is that proper? fire was looking to put forward
:09:20. > :09:26.that then yes I would want to do that. You would want to speak to
:09:26. > :09:32.the creditors at an early stage. But also, it would be also prudent
:09:32. > :09:39.to offer to sail exactly what you wear selling. It seems to me that
:09:39. > :09:45.at this point, Duff and Phelps cannot do that. The problem seems
:09:45. > :09:50.to be it is not just this big tax bill. The Court of Session is
:09:50. > :09:56.sitting for three days. The ticket is money, this deal whereby Craig
:09:56. > :10:05.Whyte sold off three years' worth of season ticket sales, in exchange
:10:05. > :10:15.for �20 million plus VAT. That is another big unknown? You scum and
:10:15. > :10:16.
:10:16. > :10:22.there are three major factors here. K quite so says he is negligible.
:10:22. > :10:29.The other two are Customs and Excise and Ticketus. I think what
:10:29. > :10:38.he did that with a ticket is was very questionable. He basically
:10:38. > :10:43.sold off the family silver. But of course, anyone coming and wants to
:10:43. > :10:47.have the sympathetic relationship. Of course, Ticketus have handed
:10:47. > :10:57.over a huge amount of money to Rangers and that will have to be
:10:57. > :11:01.
:11:01. > :11:08.Was about the wider issue? Henry McLeish said this is a wake-up call
:11:08. > :11:14.to all clubs. To be fair to Rangers they are not the only offenders.
:11:14. > :11:18.No but they have been particularly reckless. David Murray will be
:11:18. > :11:23.praying this mess is cleared up. He bequeathed the club to Craig White.
:11:23. > :11:28.He will be praying that it can be sorted out. Henry McLeish is saying,
:11:28. > :11:31.live within your means. What is painful for Rangers is that across
:11:31. > :11:37.the city Celtic have done that. Been very prudent about the way
:11:37. > :11:43.they have gone about their business. They in fact where offered employee
:11:43. > :11:47.benefit trust themselves. The point is they are not illegal. There are
:11:47. > :11:54.perfectly legal if you use them in a kosher way. But if you use them
:11:54. > :12:01.as a bogus salary that is when HMI see will get involved.
:12:01. > :12:05.What are your thoughts on the employee benefit trust?
:12:05. > :12:11.They are central to the case. I cannot understand anybody saying
:12:11. > :12:18.that they are a red herring. It is absolutely key. Graham's. About
:12:18. > :12:21.getting finances in order is also central to any C V A been
:12:21. > :12:25.successful. Creditors will not vote on one and take a massive cut on
:12:25. > :12:33.what they are caught unless you can assure them you will manage
:12:33. > :12:42.finances prudently gone forward. The chances of it happening before
:12:42. > :12:49.Sunday? No chance.
:12:49. > :12:56.I await with interest. Whether Celtic win the League on
:12:56. > :13:05.Sunday or not, there will be no trouble at all!
:13:05. > :13:09.Now, this is not science fiction, it is an attempt to reach the
:13:09. > :13:19.latest milestone for a space sector which seems to be the country's
:13:19. > :13:23.
:13:23. > :13:32.best kept secret. One us space exploration was the
:13:32. > :13:39.preserve of Russia and America. These days more and more countries
:13:39. > :13:49.are joining an. Some projects cost back money. Others are making their
:13:49. > :13:59.impact with ingenuity. So what is the bad idea? This as. It is the
:13:59. > :14:02.
:14:02. > :14:06.basic structure of a cute Sat. It is not a scale model. -- cube sat.
:14:06. > :14:11.You can launch a surprising amount of science into this and launch it
:14:11. > :14:15.into low Earth orbit. And hundreds have been launched already. The
:14:15. > :14:25.original idea came from America. But for keepers cent of the
:14:25. > :14:25.
:14:25. > :14:28.mechanisms have had their components bolted in Glasgow. --
:14:28. > :14:32.40%. Previously a student would build a
:14:32. > :14:37.satellite that would perhaps not cost a lot of money and could be an
:14:38. > :14:44.interesting experiment. But now it it is mostly servicing particular
:14:44. > :14:50.needs. For example, communications, images from space, or even some of
:14:50. > :14:55.the Nasa missions have been to see how it E. Coli reacts to the space
:14:55. > :15:00.environment, which is useful for all sorts of things. So if you can
:15:00. > :15:09.name an application or a reason to put something in space, we can fit
:15:09. > :15:14.it in the queue. It opens the mind to our facilities.
:15:14. > :15:19.The company sell systems worldwide. After seven years there moving to
:15:19. > :15:24.the next stage. This might not look like much yet but potentially it is
:15:24. > :15:30.a piece of history. The basic structure of a new satellite. If
:15:30. > :15:36.all goes well then in a little over one year this will be the first
:15:36. > :15:44.Scottish built satellite to enter a earth orbit. I am the project man
:15:44. > :15:49.Ager. I manage the internal inputs. -- I
:15:49. > :15:53.am the project manager. I manage the project teams, for different
:15:53. > :16:01.payloads from different universities and organisations.
:16:01. > :16:07.We're managing that on behalf of the UK space agency.
:16:07. > :16:11.It will demonstrate a new range of technology. It is what we're all
:16:11. > :16:16.about. Law cost. It does not cost the same amount of fuel as it would
:16:16. > :16:21.to send a spaceship up there. So we are demonstrating the can build a
:16:21. > :16:24.full satellite and anybody can put their own payload on to it and then
:16:24. > :16:33.test it. But we will have the pedigree of being able to say we
:16:33. > :16:39.have sent a satellite to space. It will be a small satellite but it
:16:39. > :16:44.will have to be tough to work beyond the shelter of earth's
:16:44. > :16:50.atmosphere. It is not as hard as some people
:16:50. > :16:56.consider. We essentially changed the maths we are doing. We have the
:16:56. > :17:05.thermal vacuum environment. Going from very hot to very cold as the
:17:05. > :17:14.satellite passes through sunlight to eclipse.
:17:14. > :17:17.Control to the mission is central. You need to know where your camera
:17:17. > :17:24.is pointing and know what is pointing in the right direction.
:17:24. > :17:27.You have got direction will antennas. They are for a lot of
:17:28. > :17:33.information. You want the antenna to be pointing towards the ground.
:17:33. > :17:41.You want to be able to continually point towards the one. So you need
:17:41. > :17:46.to control it and we do that by magnetic fields.
:17:46. > :17:50.This is only one of Scottish -- many Scottish companies in the same
:17:50. > :17:56.sector. The country punches above its weight but it seems we are
:17:56. > :18:00.mostly unaware. When people asked me my job I say
:18:00. > :18:10.that I built satellite in Merry Hell. Sometimes they don't believe
:18:10. > :18:19.
:18:19. > :18:22.me or laugh at me! -- Maryhill. People usually don't believe me.
:18:22. > :18:26.Especially girls! But it is great because it is inherently
:18:26. > :18:34.interesting. As soon as you do tell them they want to know more, what
:18:34. > :18:37.is involved, even if they can get involved.
:18:37. > :18:47.The size may suggest that this is just one small step for Scotland
:18:47. > :18:47.
:18:47. > :18:51.but who knows where it may lead in time?
:18:51. > :18:56.Tomorrow's papers - the Scotsman once that older patients are not
:18:56. > :19:00.safe on hospital wards because of a lack of qualified nurses. The Daily
:19:01. > :19:05.Mail says it has the truth about your tax bill. Every taxpayer will
:19:05. > :19:09.get a personal annual statement revealing where your money is spent.
:19:09. > :19:15.These are the Budget leaks which are continuing to do it. The
:19:15. > :19:20.Guardian also, saying the public are rejecting a 50p tax cut. They