This afternoon’s statement from Octopus Investments was very professionally written piece. It was designed to give investors a sense that the business has taken appropriate steps to secure money spent with Rangers.
For a start, we now know their company, Ticketus, “purchased tickets for Glasgow Rangers games for a number of seasons”. This clarifies one matter, money received by Craig Whyte’s solicitors back in May last year was a straightforward purchase, not a loan, so VAT was applicable, and should have been declared and paid. We can assume this VAT was not paid, whether it was declared or not will determine future consequences.
Octopus explain their investments are “designed with capital preservation in mind”, with “appropriate security being available” and “extensive due diligence”.
A reasonable interpretation of this is that the company have sufficient security to ensure that they have rights to sell Rangers tickets for parts or all of the stadium in years to come, although, the company stop short of making a firm statement on what is, after all, a private commercial matter. They add that “no trading activity is risk free”, no one can assume there will be a Rangers in the future, and while their statement mentions Glasgow Rangers, it does not specifically mention a legal entity.
A floating charge exists over the stadium in Craig Whyte’s favour. This would see the stadium revert to Whyte in the event of the club being liquidated. Octopus may, or may not, have a claim on this floating charge.
Armed with this information, the administrators and Strathclyde Police will be keen to learn why none of the money for Rangers tickets went into the club. Perhaps more importantly for any potential phoenix, questions remain over exactly who owns what claims on the stadium.
There could be a lot of sentimental photos being taken at Ibrox tomorrow.
All levity aside, this club is enduring a seemingly unending trauma.
Fancy writing something for CQN Magazine? Drop me an email and let me know what you would like to write about before you get started, just in case someone else has the same angle covered: celticquicknews@gmail.com.
There was some incredible late night action on the eBay action for the signed Celtic top in aid of the Vanessa Riddle Appeal. I’m stunned, check out the link below. You are pushing the reputation of supporters of Celtic Football Club ever higher.
Bid and help send Vanessa for the treatment she needs by clicking here. Only one day left.
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Married for over 30yrs to his wife………. I thought he was married to the bliddy couch……. or so Mrs Vogue told me!
PostingasVbutnawreallyVCSC
V
new article posted.
lennybhoy
No not from Coatbridge
Celticghirlanew
Welcome.
Beware of Vogue Punter.
He’s a grumpy old git.
Uly – don’t forget Cadette’s “goal” at Ipox….best not go there. Too many bad memories!
I doubt Tommy, being a far better man than most of us, would have gloated at their predicament and probably would have felt sorry for McMoist…! Well, mibees a snigger or two!
God bless TTTTTB
celticghirlanew
My Mrs wouldn’t be much of a drinker, so I drink her share, but she has had a fair few this week, we may be far, far away from scotland, but it feels like home on here, so we have had our own wee party each night this week.
G64
thanks for the heads up on that. Will watch his comments! :-)
Paul67.etal.
I can’t keep up with these posts that are coming out of CQN,Have you got an assistant that’s helping you.
I just wanted to say that I hope that the tax people go back over the years that Murray was in charge at Ibrox,If they find that there were discrepencies back to 2003-4, would’nt you think that there will be more discrepencies from the years just after he (Murray) arrived at Ibrox, I would imagine that there has been some creative accounting between his first year at Ibrox up until 2003-4 .
It’s no wonder he got into so much debt when he flashed a tenner and said “For every £5 Celtic spend,we’ll spend £10” I’m sure he surpassed that statement by a country mile,It’s just a pity it wasn’t his own money he was talking about.
I put most of the blame at Murrays door.I hope if they venture back to Murrays early years,there is a case to answer, and he has to anwer the questions put to him in a court of law.
Whyte the knight in shining armour comes riding over the hills to save the poor soals that have spewed out their bile inside the bigotdome for over a century,Whyte says to the follow followers, come I shall take you for a ride,and each and everyone of them follow followed the Whyte knight up the garden path,where they were taken for a ride of a life time,they were robbed of their season ticket money for the next four years.The Whyte Knight has done a Bonnie Prince Charlie, and sailed into the blue horizon,maybe never to be seen again,at least the Bonnie Prince returned to these shores.Will the Whyte Knight???.
gerry_bhoy says:
17 February, 2012 at 20:47
Bragging rights this week, next week in fact every week for the next 140 years…:)
Keep the Faith!
Hail Hail!
ulysses mcghee says:
17 February, 2012 at 20:12
20.05 and as the rest of us bolt the doors against the storm, Pat Nevin is plodding the touchlines of Ibrox, placing a collection of BBC loaned furry, wind-proofed microphones on the turf. Turning the mics towards the seats. He stops and looks up the the press boxes. His home for the evening. But he knows there will be no sleep. Not for Pat Nevin. No, no sleep for Pat Nevin. The Sentinel for what still passes for decency in this country. Integrity. Dignity, even. He won’t hide from the sectarianism. He won’t look away when the mask slips. He thinks of his calor gas stove and the soup he will make on it. Baxter’s Chicken Broth he decides. He smiles as he places another mic stand into the cold turf. It is still early and Pat Nevin still has so much work to do…
share
SUPERB !
I thought administrators were supposed to cut costs and not add to them.
It is not unheard of for clubs in administration to sign new players but this normally happens only after existing players – on higher wages – have been released, and normally when clubs are in administration for long periods of time. See Portsmouth`s first period in administration for example.
It is strange that these administrators would attempt to sign Cousin on a reported £7,500 per week before slashing other costs.
THE EXILED TIM says:
17 February, 2012 at 20:29
If the MSM/LL have been briefed that the rules will be changed to help ragers ,have the rest of the SPL clubs been told also
hail hail
the exiled tim
Once a Scot, always a Scot
Me??? I’m a celt :-) in a truly traditional sense of the word (now I’m waiting on a barrage of abuse for saying the wrong thing!! lol)
The Taxman has taken over ibrox and decided they’re
Renaming the stadium the Inland Revenue Arena’…
The IRA for short…
Although, its only Provisional at the moment…
Bhoys & Ghirls
quiz starts in a mo, but on the NEW ARTICLE
See you there
HH
CRC
hamiltontim
Always a believer in thankin the missus ;)
youknowitmakessenseCSC
No one likes them. They even say this themselves. What part don’t understand? Is it just plain denial? A big bigot festival. Aye that will put everything right. Just like feckin manchester! Great for PR- not. I’ve been all over scotland and consistently find us out numbering them wherever i go…they don’t even have 250k fans…just like tge neanderthals there is no place for them on the next link of the evolutionary chain…ala tielhard de chardin…who was also a good tim!
Barrach Obampot don’t need no stinkin’ Rangers says:
17 February, 2012 at 20:32
It’s now on my list.
Thanks for the link
Jelly and Ice Cream in ML9
fergus slayed the blues says:
17 February, 2012 at 20:08
I posted re that very same point straight after Delahunt said it. I’m sure he said they had changed the rules and then Keevins said something along the lines of ‘thats why the next few weeks are fraught with danger..’
I understood it that the member clubs voted any proposed NewCo into the league but they way they were telling it its has been changed to the SPL board members. I coudn’t believe what I was hearing and no one else really mentioned it on here at the time so I presumed I had the wrong end of the stick….
If anything comes from these momentous weeks what we know as cast iron fact is der hun has no capacity for contrition; no sense of irony and a redoubtable facility for a breathtaking lack of self insight…it wiz rem it whit did it! We Owe them because we cannot ( despite being one of the biggest clubs on earth) survive without a club that has half our turnover…Cause rem iz ra biggest greatestess instiatution in ah whole ah Scoatlund…aye right…feck off!
thebhoyfromoz says:
17 February, 2012 at 20:33
Excellent article by RTC.
I have been told that the Observer are doing a piece on the story this Sunday.
Let’s hope that they do it justice.
HAIL HAIL TO ONE AND ALL!
Eldiegobhoy
Birthday Cake for ElDiegoBhoy
CELTIC FOOTBALL CLUB 1888 – ETERNITY
A few thoughts about our “friends”
Tomorrow @ Ayebroke = an empty display
An Orange Walk that don’t go nowhere
A toot the flute, belt oot the Billy Boys, shitey Sash Bash, wave the Union flag SAD PARTY…
Is this perhaps their last game as The Mighty Glasgow Rioters ?
I think that some of the bears might even be contemplating this scenario.
The Albertz Hall – Last Night Of the Huns
“There’ll always be a rANGERs”…..LOL
I look forward to seeing it sometime on iPlayer with a few beers in the house.
Hey, and all the “right” noises made by The Oldest Young Fat Manager In Football History:
“the rANGERs fans are the best of the best so they are and there are many questions that
I don’t have an answer to at this moment in time but , to be honest, you should ask
Mister Whyte/White and , by the way, has anybody seen John Grieg about the big hoose ?
…..interviewer nods off/checks CQN on his iPhone for what’s really happening.
from Leggoland recently, some other beautiful shite:
“And one of the lead partners in the international law firm, Gary Withey,
has been named as the new Rangers company secretary. Withey is a high flier
who is a member of the extremely exclusive Hurlingham Polo Association.”
Casinos, succulent lamb, jetting in/ jetting out from some big mansion in France, swooping for transfer targets, unveiling the signing of foreign “aces”, snubbing Celtic, putting those
tenners on a table that Celtic hadn’t yet been able to put a fiver on, well golly gosh,
the huns are the cats pyjamas are they not ?
And they even signed a Catholic one time !
F*ck me, and in the twentieth century, who’d a thunk it ?
Why has it turned out this way ?
And how did they get like that.
I REALLY don’t like them but I stop short of hate.
But I’ve never been able to get my head around their thinking ( such as it is)…
I’ve looked on as their club went down the toilet.
No nuthin from “the fans”.
Tumbleweed.
Silence.
The odd, very odd, phone call to Radio Clyde.
Bizarre disagreements about what songs should be sung (snippets from FF)
No car park protests, no tweeting campaign, no letters written to the board, no website
set up to focus the dissent, no boycotts, no organisation, no facebook, no real anger about the situation from a group that does anger quite well…
What are they thinking ?
Were they “thinking” anything ?
My conclusion is NO.
And not because they don’t care.
They do.
But they are powerless.
Because they don’t know how to react after all them decades of entitlement .
They have become apathy itself.
Getting titles handed on a plate, coupled with the usual inbuilt “we are the ruling culture” nonsense, aided and abetted by cheating refs and SFA officials, backed up by the supine press, hearing little of alternative voices….well, it has just made them turn out bad…
They don’t even know where to start.
They don’t know how to respond to this new and , for them, horrible situation.
They don’t have it in them.
They knew how to respond to them signing a Catholic after ALL them years.
They went MENTAL, lots of them.
It was just somehow in their blood, learned, felt, passed on to them.
And as some astute poster pointed out earlier, there was a bigger protest about THAT than the current problem which will almost certainly bring down the club.
Go figure.
Go laugh.
But they don’t know what to do now because there is no manual, no guideline, no compass even for what they face just now because THEY BELIEVED IT COULD NEVER EVER HAPPEN
THEY WERE THE PEOPLE
They just were, it was unquestioned.
Now their world is upside down.
In 1994 (and before) our fans could imagine the obliteration of Celtic.
We were smart.
We were not docile.
We acted.
We campaigned.
We fought( even among themselves…and still fighting if that Kelly & McGlone thing the other night’s anything to go by LOL)
We got a result.
And God Bless Fergus McCann BTW…come back and take a bow without boos at some point, sir
The Teddy Bears somehow seem ecstatic that it’s a sell-out tomorrow and with Ally “they march forward”…..
Some of them will march – a few club officials, possibly to the jail.
They still don’t get that Murray shafted EVERYONE
And now the MBB looks to have bought the club with the fans’ money and is heading
either to the pokey or The Bahamas.
And the season ticket money is in someone else’s hands !
I want what they’re drinking.
Happy juice.
Mad juice.
Crazy mad stupid juice.
I don’t get it but I love it.
Here’s to them, our dumb foes:
RANGERS FC: 1872/3 – 2012
pigalle
Lest we forget
Go Back to hell from where you came
http://www.youtube.com/watch?v=qFyOxS5jL5o&feature=related
ulysses mcghee says:
17 February, 2012 at 20:12
Fantastic funny post, sir…
Nevin will be up to ears in Fenian blood if he’s at the Big Sash Bash ramorra.
pigalle
Personally, the reasons I want to see rfc extinct are mostly non-football.
When I think of everything that club has stood for over the years, its an easy
opinion to make. Where do we start?
A non Catholic signing policy circa 1910-1989
A Bastion of Anti Irish Catholicism
A hub for the Orange Order
Shaming the nation with a history of hooliganism throughout Europe
Corrupting the SFA (inc refs)
Controlling the media
Murders of Celtic fans (even in victory)
Attacks and deaths threats of Celtic players and Neil Lennon
Nazi salutes
Racism
Apartheid
Supremacist triumphalism
last but not least…A stain and strain on the social, cultural, political and economic wellbeing of Scotland.
Sure, Id miss the glory of beating them, but there are far too many negatives and they are of far greater
importance. On that note, I dont care if I never see that fixture again. We may have to downsize with crowds of 30000 or whatever
but we’ll benefit in the long term. Just to be rid of the OF tag would be something and we would no longer be
dragged into their cesspit.
Remember, this is a situation like very few others (Buenes Aires and Istanbul may be as bad).
Its not your Millwall-West Ham or Liverpool-Man Utd. I dont think these rivals can say they want the other buried
for any of the reasons I’ve listed. The hatred is there alright but its based on different matters.
The huns will survive in some form, we all realise that. Terry was spot on tonight, we just want them to receive
full punishment for their crimes. But for me, they will still be getting away with the criminal acts they have been committing
for 100 years. Tomorrow, Ibrox will witness a show of defiance. It’ll be a sea of angry faces with the old hymn sheets
handed out. If they morph as a newco, FC HATRED would be a suitable name.
Mornin CQNrs
A happy Saturday mornin to you, has Salmond resigned or that wee cheeky FB that manages RFC PLC (in administration), I see that they are claiming a full house for to-day, if its true then I am glad that they have all got together to enjoy some of the last games to be played there.
At Ibrox they are queuing up to get into the ground and the car park is full, however the SFA, HMRC, Administrators, Police, Crown Office and Insolvency service cant agree who should get the last parking place however they agree to be above board and pay to get in. Sure, they are not sure who to give the entrance money to, is it Ticketus ?
RFC (in administration) 2 Kilmarnock bunnets 3
Highly unlikey given that Brines is the referee and well known Paul McDonald ( I’ve never heard of him ) is the powerful fourth official.
So that means those in administration get two pens !!
What a week, truly well done Paul 67, I think you must be taking what Popeye takes, spinach, and if you dont I’ll send you some !
Hail Hail
Riverside Theatre Ascot 3pm today for me please
Morning all.
Going for ORZARE in the 3.35 at Ascot.
good luck
this naps comp for me is a mirror image of rangers and their hmrc fight,
no chance of winning it but maybe alex salmond will step in and have a word.
right heres my one to avoid,
Tamarinbleu 355 Hay in the Pertemps Qualifier,
downside is hes up against some younger horses, but……
methinks the ground is right and more importantly for me the price is double figures!
Morning guys.
Still looking for first winner in 2012 but at least the Huns are bust
HILDISVINI 2.00 Wincanton NAP
EC67
I
I’m hoping Gauvain can do the business today.
The moody bugger let me down badly last time,so fingers crossed.
GAUVAIN 300 ASCOT.
nap
Silviniaco Conti …1-50 ..
CQN Saturday Naps Competition – Week 27 Standings
Raymac was the biggest winner last week (Stormy Weather @13/2).
Other winners – bobbymurdoch’s CUW (Royal Tara @11/2), wolfetonebhoy (Bridgets Pet @7/2), and Rockon (Celtic Charlie – dead-heated – @2/1).
+£11.58 bobbymurdoch’s winklepickers (7)
+£ 8.50 Cathal (6)
+£ 6.00 voguepunter (3)
+£ 4.83 fleagle1888 (5)
-£ 0.08 Rockon (7)
-£ 1.25 What is the Stars (4)
-£ 4.00 wolfetonebhoy (4)
-£ 4.50 twists n turns (3)
-£ 6.75 Eurochamps67 (5)
-£ 7.00 Raymac (3)
-£10.70 Som mes que un club (2)
-£14.00 Che (2)
-£17.50 hunza rugli (2)
-£18.00 BULL67 (1)
-£18.50 PFayr (2)
-£27.00 oldtim
-£27.00 The Token Tim
-£27.00 tommytwisttommyturns
*No selections from – hunza rugli, oldtim, The Token Tim
Cheers, fleagle1888
Hoping for a resurgent Massini’s Maguire in the Ascot 2:25.
Cheers
TTTT