Last week we shone a light on why newco may have withdrawn their ill-conceived rant against Dundee United over the SFA’s award of £204k to newco as Training Compensation for Charlie Telfer signed out of contract.
Where Training Compensation is disputed, the SFA are obliged to award the losing club the entire amount of money due according to the set scale, from when the player was still at school. The club which receives the money is then obliged to pay any earlier clubs the according to period they developed the player.
This is where Rangers’ liquidators, BDO, come in. Rangers membership of the SFA expired in August 2012, just a few weeks after newco began life with a cup-tie against Brechin City, but Rangers were the club who developed Telfer between 2006 and 2012, so they are entitled to make a claim on the money newco will collect on their behalf.
It’s unlikely Dundee United have already paid newco, so if newco dispute they owe oldco Rangers this money, BDO are likely to ask a court to freeze the transaction before it is fulfilled. United would be unable to discharge their debt by paying newo until the court made a ruling in their favour.
United chairman, Steven Thompson, may or may not have said “You’re only two years old” when offering a lesser figure for Telfer, but whoever penned the withdrawn statement for newco, they missed the point. Someone should have advised newco, “You’re only two years old, take the money on offer and don’t push for an explicit Training Compensation figure.”
Cognitive Dissonance alert, we now face the possibility of newco paying a football debt to oldco.
In the same article last week, we brought up the subject of Rangers’ as-yet unpaid £250k fine for the illegally avoiding tax and breaking player registration rules. The fine, levied by an SPL inquiry, is almost two years old now. As part of their SFA membership application, newco agreed to meet all football debts, but there was previously insufficient motivation from the SPFL, who assumed SPL assets and liabilities, to enforce the fine on newco.
I hear that attitudes changed the instant newco attempted to rub people’s noses in the dirty stuff with that rant on the Telfer decision.
You can also order the CQN Annual and DVD bundle here. It’s a great offer, check it out – tons of great reading and photos on your favourite indulgence.
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201 Comments- Pages:
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HH
Not having any success buying my Inter ticket Online. Anyone succeeded?
JJ
Coulda been a contender
Twisty good to see you back J.
HH
KTF
UTLR
PAUL67
Hoist on its own petard,or,as the saying goes on here….
GIRUT
09:44 on 17 December, 2014
twists n turns
07:56 on 17 December, 2014
That statement from newco says that the “club” went into liquidation. I thought the party Line was that it was the company.
A wee faux pas there, is it not?
What a mess!
It seems the new club has previously agreed to pay the old club’s debt to the new league that took over from the old league it was never a member of. Is that correct??
This is a result of the five way stitch up. I’ve always argued that the new club should not be liable for the old club’s actions. Why should it? There is no legal connection between the two – the new club simply purchased the assets from the old club.
But that would mean abandoning the beloved fiction of a new company now operating the same club. And we can’t have that now, can we?
Yet, to make things even more interesting, read the statement made to the Stock Market::
“”The board of the SPFL has determined that Rangers Football Club Limited (the “Club”) is liable to pay the EBT Commission fine of £250,000 levied on RFC 2012 PLC (previously The Rangers Football Club plc) (in liquidation)”
Apparently the club is now called “Rangers Football Club Limited”. Doesn’t that word at the end indicate that the club is also a company??
Reports this morning that Ashley will increase his stake in sevco to just under 30%. Took a lot of notice of the SFA. Scottish football corrupt to the core.
We should back Tonev. We entered into a contract with him, he is our employee and with that we have responsibilities, one if those being to protect him from the injustices of a kangaroo court.
HH
SEVCO.. Ha, always be sure how the argument will end.
They’re running out of hiding places.
Minty still invisible to SMSM
JCGE
Gordon_J backing Neil Lennon
09:50 on 17 December, 2014
…Apparently the club is now called “Rangers Football Club Limited”. Doesn’t that word at the end indicate that the club is also a company??
Hi Gordon, no, I think that word on the end refers to their life expectancy.
Dunno if this has been posted,but it’s blinkin’ hilarious!
http://www.emirates247.com/videos/virals/ogler-falls-off-treadmill-starts-push-ups-video-2014-12-17-1.573676
Dirtymac
:)
dirtymac,
Like it!
SFA call in Ashley and charge The Rangers with his involvement – possible fines for the club
SFA tribunal find in favour of Neil Alexander and Rangers must pay £85,000
SFPL withhold television payments from The Rangers to pay a £250,000 fine that’s been outstanding for 2 years
Coincidence I’m sure…………..
Probably un-related – McCoist hands in his notice looking for a pay off that would put thems down the tubes
Next week don’t be surprised if McCoist tells everyone that he can no longer pretend that Sevco are the real Rangers and calls for true Rangers men to come forward..
lennon’s passion
09:50 on
17 December, 2014
Reports where? That’ll give you the answer to how much credibility they have.
So, would I be correct in saying that the fix goes sumthin like this….
CO – ( to huns head-honcho) – “Ride out the storm without, Uefa recognition for 3 years and, we’ll get ye back up the leagues and off without paying back the £140 million.”
CO – (to PL / Celtic bored) -“You’s just sit tight and don’t get involved. Just play along as normal.”
Hmmmmm?
Taking us awe fur dic#s – CSC
dirtymac
Nice one 0:-)
david 147
The SFA have done nothing legally (ie against their own rules to which Celtic agreed) wrong ( in this instance anyway!!). They were allowed to come to the conclusion they did.
I dislike it intensely but I cannot see what Celtic can do other than voice support for Alexander Tonev.
JJ
Paul, have you finished up for Christmas early? What’s going on with all these articles being posted willy nilly at irregular times?
We can’t handle change. Oh, wait, no, that’s the huns…
GORDON J
What with Rangers,The Rangers,Rangers International,1872,2012 incarnations,etc,ad nauseam,I canny tell who is who.
Or which is which.
Or my arse from my elbow.
At some stage,I expect an entity from Ibrox to deny being part of any agreement,so nothing should be binding on them. And that they’ll be shape-shifting again next week,so any agreement made at that point won’t then be binding either.
It’s all so confusing. They should have simply stayed dead,saved everyone a lot of time,money and hassle.
I’m going to maintain that BDO aren’t due anything since Telfer was a Rangers Youth Development player, and as a subsidiary of RFC 2012 Plc (in liquidation) this was bought by Charles Green before being wound up. On that basis he bought both Telfer and the development debt associated with them.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
That video is brilliant. Fair play to the guy – he must be a dedicated follower of Nicki Minaj style booty…
REPEAT POST
Not having any success buying my Inter ticket Online. Anyone succeeded?
JJ
Ach, aye……bye.
ACDC tickets on sale for Hampdump
NOW!
Get ’em while you can
If Ashley does in fact take over at the scrappy they’ll never get near us, he’ll run it as a business and will only spend what it makes minus his expenses. The Huns don’t make much money so they’ll won’t spend much and as we continue to win the orcs will desert there team as they have done in the past with the old club. HH
“Whatever figure is settled on, McCoist will be due every penny for what he has done for [Sevco], the fights he has had to fight, the controversies and characters he has had to deal with and overcome.”
What a pile of lies and sycophantic drivel:
http://www.eveningtimes.co.uk/rangers/rangerscomment/mccoist-set-to-face-the-music-but-rangers-fans-will-have-little-to-192156n.114751404?
Back to work in new year…8))
In town celebrating with a coffee……
SOT
one for you
https://www.youtube.com/watch?v=T_EKc9oUsT4
hun skelper
That , I believe, is wishful thinking. I would think that if Ashley took over it would be because he believed he could make more money than he would if he kept Newcastle.To make this money, he would need Sevco to be supported in big numbers. Only a successful Sevco would attract big crowds.
I hope I am wrong. Show me that I am. Anyone! Please !!
JJ
Jungle Jim Hot Smoked – Just bought mine online with no problems….
charliemac
09:57 on 17 December, 2014
SFA call in Ashley and charge The Rangers with his involvement – possible fines for the club
SFA tribunal find in favour of Neil Alexander and Rangers must pay £85,000
SFPL withhold television payments from The Rangers to pay a £250,000 fine that’s been outstanding for 2 years
Coincidence I’m sure…………..
Probably un-related – McCoist hands in his notice looking for a pay off that would put thems down the tubes
Next week don’t be surprised if McCoist tells everyone that he can no longer pretend that Sevco are the real Rangers and calls for true Rangers men to come forward..
__________________________________________________________________________
Looks to me like Dave Cunningham King, has some incriminating pics of Messrs. Ogilvie and Bryson,……………………………………..and a goat!
HH
MONAGHAN 1900
That takes sme beating. Does Private Eye still do an annual Brown-nose Award?
BLANTYRETIM
Delighted for you,bud.
The WRO is s on the road again!
Paul67:
The fine, levied by an SPL inquiry, is almost two years old now. As part of their SFA membership application, newco agreed to meet all football debts, but there was previously insufficient motivation from the SPFL, who assumed SPL assets and liabilities, to enforce the fine on newco.
Was the above separate from the bendy-bendy ‘five-way-agreement’ or was it part of it?
Under what circumstances would a – brand new – applicant to the league accept the liabilities of another club in liquidation?
I hope to God we are not going to try and sweep the ‘five-way-agreement’ under the first convenient mat.
That’s what the Smsm would do.
Bmcuw
thats another reason why i dont go to the gym…
MONAGHAN 1900
This section is worse……….
The heart and soul of Rangers is up for grabs. The proud, distinguished club, Scotland’s most successful, is a shadow of its former self and another cornerstone is about to be removed when McCoist departs.
JUNGLEJIM HS
It looks like the latest round of TV deals for the EPL will be worth £100m+ p.a.
To each club!
Ashley will do well to better his money with Rangers,even with lower outlay,than with Newcastle.