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.
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Gon yursell Terry Furst Class Ma Man.
Awerabest PJ
Terry you are a credit to all Celtic fans, great call.
Get in there Terry. Never going to get enough time to go through all the reasons why they shouldn’t be allowed to go straight into the SPL but still… stick it to them!
‘Male parta, male dilabuntur’
‘What is dishonourably got is dishonourably squandered’
Cicero, Philippics, II,27
I blame Roman schools…
Hmmm…could get ugly at Ibrokes tomorrow; never!
Dellahunt’s mentioned the elephant in the room,, hugh acknowledged it’s existence,,,,,,,, just as the momentum starts they cut to an ad break,,
I know that the Adminstration is due to the 9million tax bill the 49 million plus is still to come but I am quite impressed how Sir David Murray has got his name below the radar.However,surely if it was not for his chairmanship and the EBT none of the current problems would have happenned why are our great truth seeking journalist not trying to get to the bottom of his dealings? or has he cleverly deflected all the troubles onto Chris Whyte.?H.H.
Well put across Terry, slowly but surely the radio clyde panel is coming round to correct logical reasoning concerning this issue.
http://www.radiofeeds.co.uk/query.asp?feedme=102.5+Clyde+1
You will get snyde here.
Are ebt’s still going ? If they are let back in, the spl teams should go to town on them, get all sorts of ‘quality ‘ from england and stuff the consequences, that is what some politicians are advocating.
I think that Hugh is keeping his powder dry until, the ‘real’ genie’s come out of the bottle ?mmmm
Hail! Hail!
Thought Delahunt was very good in handling Terry’s call. He gave him time and when he was beginning to drift quickly asked him to come to the point which, as moderator, is his role.
Well handled all round.
Tax investigation
Polis investigation
Uefa investigations …many times
now …SFA investigation
what a pilaar of society …great Scottish institution they are
and they wonder why most of Scottish football is luxuriating in their impending demise
breaking news ..Cousin deal refused by SFA
Cousin not allowed to play in SPL on SSN
where’s jf’s post – can’t find it
shipeandlazeecsc
just heard on shortbread that Cousin will not be allowed to play for Rangers the morra lol
Hail hail
Just on sky – SPL deny Cousin transfer – HA HA HA HA HA
JELLY N ICE CREAM !!!!!!!!!!!!
Terry
I am full of admiration for your efforts in getting the viewpoint of the real Celtic supporters broadcast. Tonight, you left them nowhere to go, no room to hide. Total respect Terry.
Just been given the heads up about moves for Rangers to wriggle free from everything that is crashing around them .
The Administrators have been contacted by a consortium based in the Czech Republic , they already have shares in one of the big clubs there , so are no strangers to football.
They generate money through various enterprises based in Prague , Brno and Ostrava and are backed by one of the big Czech banks .
Charles Walder at Duff and Phelps has been in contact with them .
Seems the game is afoot .
BBC Radio Scotland – Cousin will not be available to play for Rangers tomorrow. SPL board say he is not registered under rule A6.20.
Billy Dodds asks if that means he`ll be “legible” (sic) for he rest of the season.
Sorry, have i missed something? Did Delahunt not just say the SPL have changed the rules? He said that any liquidated team could be allowed back in after SPL board approval and the league would be extended to 12. Delahunt used the words ‘changed the rules,’ then Keevins said ‘that is why the next few weeks are fraught with danger….’
Terry , great call , one of the best ever.
Did i hear correct at the end of the call, no newco in SPL unless
its a change of the rule book.
Administration means you cannot
buy any outfield players,Am I correct?
Why is sleekit sally still saying COOOsin
cooold play the morra?
All bets suspended on tomorrows hun game, after a strange looking guy just went in to Ladbrookes & put £33million on Killie to win.
Great to see that the Celtic commercial department has not rested while the huns crumble, lots of negotiations been going on with Nike about the launch of our new away strip. Should be launched in time for our visit to the bigot dome.
New Nike Celtic Away Strip
Can wait to see Sammy and Big Vic67 rattle a few into their net wearing the new strip.
Indio
Lol. Duddsy just said Cousin is “illegible” for the next game.
Bigjie,
I was waiting for a punchline about bouncing Czechs
any chance someone can upload Terry’s call please?
cheers
Get in there mi amigo, get it right up them
In process of distilling the essence of schadenfreud- l will then use it to make a new brand of ice cream- availiable from celtic superstore from monday
Last caller cut off by Delahunt for no apparent reason?????
Hail hail
the glorious balance sheet says:
17 February, 2012 at 18:35
Orc administrator releases a statement welcoming the SFA inquiry.
Whyte stresses that he “personally” didn`t take any money from the club. (But no mention if any of his companies did).
I smell a tax evading, newco-reinstating carve up.
———————————————————————–
Money that never went in to the club can’t very well be taken out of it now can it?
The SFA inquiry may well be a way of pre-empting the e-mails many of us will by now have sent and an answer for UEFA when they come calling about UEFA licensing. I see it also as the SFA distancing themselves from Rangers.
We have them on the run in all senses and while the odd rogue referee can still make life difficult on the park I think the beaks on big salries know that the days of things being swept under carpets are gone. And we have Paul67 and Phil Macgiollabhain as well as other bloggers to thank for that.
It now seems an age ago since Dallasgate, DougieDougie and the ridiculous litany of decisions that were going against us and for them ‘uns – but looking back I think they were seminal moments in the Scottish game. The beginning of the end for Rnagers men running the SFA for Rangers well being. I suspect there are some sweaty palms over the prospect of a close look in to Rangers UEFA licenses over the last few years up at Hampden.
Keep asking the right questions and insisting on getting the answers and all the media spin, bluff and bluster will not change it. Delay possibly, but change, no. We deal in reality and truth they deal in trying to polish the giant turd that is Rangers and their cheating ways.
“It is essential that we work together to improve the overall sustainability and competitiveness of the game in this country. This is a matter that the Scottish FA is already in discussions with the relevant league bodies to address.”
Call me naïve, but surely the overall competitiveness of the game in Scotland will be improved when Rangers (in administration) die.
So, Let them die!
As they drop out of the SPL surely there is a benefit overall to the Scottish game as teams in divs 1,2 and 3 gain extra revenue in the seasons they are in the lower leagues.
why is this not “for the good of Scottish football”?
When they are promoted to the SPL at least they can say they served their punishment and have played their way into the SPL – fairly for once and sporting integrity is maintained.
it`ll be a real Hunfest at Ibrox tomorrow
i envisage a real no surrender FTP day …stock full of all the songs of hate
Not only cut off but “we need to find a way to ban him”?!? Excuse me, what did that caller do to deserve to be banned? Ridiculous!
I think we are witnessing the residents of Das Snyde flipping their slices of bread in order to make sure the correct side is buttered. Welcome back Uncle Toms! Come in, the water’s lovely!
Sparkleghirl.
Enjoy yer 48 hours of freedom, the final (?) game of the ugloids, and the super dooper knees up jamboree on Sunday.
Who is the, alias-guy that always slips the net on SSB ?
Tonight i think he called himself, Craig ?
Hail! Hail!