We are three days away from Rangers creditors’ vote on the proposed CVA and my best sources remain strongly of the view that HMRC will vote against. As a result, on Thursday, the process to liquidate Rangers will commence and Charles Green’s company, Sevco 5088, will attempt to purchase the assets of the business.
One of the first acts of Sevco 5088 will be to apply for membership to the Scottish Premier League. They will offer the league an opportunity to retain considerable revenue streams which would be lost to the league following the liquidation of the former football club, Rangers.
Attitudes hardened towards a Newco proposition since Mr Green came onto the scene, specifically since Rangers raised an action against the Scottish FA at the Court of Session, but sentiment in football is fickle. We should ignore all public comments on the subject of Newco and concentrate our minds on the SPL vote, which will take place next week.
Two months ago the Gang of 10 clubs thought they were in an ‘Arab Spring’ moment when they met to discuss how they would use Rangers demise as an opportunity to re-engineer the league. Charles Green is aware of their feelings on this matter and is likely to use this knowledge to inform his offer to the league.
Expect Green to offer to support a change in voting rights if the SPL allow Servco a franchise in the SPL. This offer would allow the Gang of 10 to not only retain much of their existing income streams, they would actually be able to bring in additional income. Servco FC would benefit from being the first company to be able to buy a place in the top division of Scottish football. The only loser from this scenario would be Celtic.
The existing voting rights protect Celtic from several hazards. The most important two are the rights of home teams to retain match ticket revenue and a limit to the number of home games shown live on TV for any club.
You will hear lots of comment from the Gang of 10 that they are not interested in splitting home gate money but none of them have agreed to exclude this matter from the change in voting rights. More Celtic home games on TV would be welcomed by armchair fans that live abroad but would see season ticket holders suffer as kick off times are moved to accommodate TV scheduling. Neither of these matters will be addressed at this month’s SPL meeting but, if the voting rights change, you can expect to read about them soon.
If the application from Sevco is rejected, we enter a new world, where SPL voting rights will inevitably change and Scottish clubs will have to learn to cooperate with each other on a constructive basis. As Celtic fans, we will embrace that challenge, but you can be sure that a slice of your season ticket money is being offered right now by people who have nothing whatsoever to do with Celtic.
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I truly hope the Thursday meeting goes ahead simply to show how many creditors tell them to get stuffed. So far it seems we have Hector, Rapid Vienna. you would imagine Hearts and hopefully Celtic..plus surelyTicketus
Wonderful. Could not have happened to nicer folks and the biggest load of chancers going.
kitalba on 12 June, 2012 at 10:41 said:
I have search for a reference to gate money being shared in league games prior to 1974, it doesn’t seem to exist. My memory playing tricks on me, I stand corrected. I think my confusion arose front the rise to playing each other four times per season to increase gate money for clubs. That is as close a reference as I can find. As I said, I was only a kid at the time.
http://www.scottishleague.net/archive/archive155.htm
Begone beggar huns and never return to this Dear Green Place…
The Taxman he says no way…
greenjedi on 12 June, 2012 at 10:50 said:
Someone posted this earlier in the week. I hope Duff and Phelps have read it.
Transactions at an undervalue
Here comes BOD…
“You must leave now take what you need you think will last
For whatever you wish to keep you better grab it fast
Yonder stands your orphan with his gun
Crying like a fire in the sun
LOOK OUT! The saints are coming through!
And it’s all over now, baby blue”
CHARLES KIRKHAM
I doubt there will be few on here unaware of the original case
http://liberalconspiracy.org/2010/11/01/why-are-there-protests-against-vodafone-a-simple-guide/
though this helps.
Settled over a few lunches by the discredited former head of HMRC. Hmmmmm…………
Clearly they have decided to give the UKPLC a rather large thumbs-down,with two fingers up.
Personally,I would withdraw their licences to operate in the UK.
Yes,obviously jobs would be lost-though largely replaced by increased employment from competitors-but we simply cannot have a company of ANY size driving a coach and horses through tax law like this.
FFS,even PHILVISRETURNS would question the morality behind it.
NaeoffenceyacapitalistgitCSC
jimmci
We only needed ole Hector to sink their dastardly plan, percentage wise.
Sassafrassin CSC
johnnyclash
Senn them on later wi jools… Fantastic sounding.
Think they’re playing the ABC in October…
bournerecipe
Understand but it will be delicious to see them getting stiffed from all angles. Just a wee extra bit of pleasure for me….
ASonOfDan on 12 June, 2012 at 10:19 said:
Weatherseal are the SPL’s ‘Home Improvement’ sponsor. They are just one of many companies linked with the SPL. I cannot see how Weatherseal can influence any decision regarding rangers, unless they are giving away a free garage conversion to the Chairmen.
/////
ASonofDan
Do you realise that Weatherseal is a major sponsor and is owned by Brian Kennedy who tried so hard to buy Rangers while, at the same time (allegedly), was negotiating sponsorship with Doncaster?
-‘The partnership, which was rubberstamped by all 12 SPL member club at a board meeting last week, will bring an undisclosed six-figure sum into the Scottish game’-.
Had he succeeded in becoming Rangers new owner (or one of them), there would have been all sorts of hurdles to get over with the SPL regarding penalties/investigations etc.
IMO, there would have been very serious conflict there.
BDO even.
Shame, Bod and Hector would have looked good together coming over the hill..
New Article coming.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
couldn’t agree more
Fritz A. Grandold @fritzagrandold
In England a NewClub has never had league share transfer approved on rejection of a CVA.
Very very interesting…
So tomorrow they are but an awful memory. Good riddance. Thank God. HH.
lochgoilhead bhoy
I had thought about this previously but discounted the possibility. Can’t remember now why I didn’t think it was possible as these HMRC guidelines seem to suggest at face value that the sale of assets to newco would be a transactions at an undervalue.
I wrote about this in an assignment last year and was marked down as I forgot to consider something so will dig out the assignment to see what it was.
Hopefully the liquidator can do them for this. It would be the icing on the cake if they got a newco registered with SPL only for BDO to reclaim Ibrox et al leaving newco nowhere to play and oldco with a stadium but in liquidation and no SPL membership.
Getting goosepimps just thinking about that scenario.
Mort
Looks like the chaps at BDO will be sharpening their pencils, filling their red pens and making sure they have fresh batteries in their calculators – They have a busy few days ahead
Mort on 12 June, 2012 at 11:04 said:
Oh I like that idea, they should be made to suffer the highest penalties for completely ruining the national game, that and because they are huns!!!
Boom boom boom, let me hear you say wayo, wayo!!!!!!!
THE BIGGEST
HUNSKELP
EVER
http://www.bbc.co.uk/sport/0/football/18407309
The guy in the photo on the BBC website is that EDL fool, superb.
Green better get his lawnmower out, seeing as all he will be doing is cutting the grass at ibrox for the next year…
Son of Warsaw
I spotted that as well. Sums them up perfectly…
Strong story from the BBC, they are sure that it is all over 2 days early, lets hope so.
FPLG has made a statement demanding that these faceless people at HMRC who have made the decision to reject the CVA are named.
‘The Peeepul’ need to know!!
The musical recommendations of the ole Mr Johnny Clash massive are ‘not ‘alf’ filling the hole left by the loss of Allan’ Fluff’Freeman.
Give us a H
Give us a M
Give us a R
Give us a C
HMRC!!!
Italian fitba cyberspace transfer rumor sites claiming [ and it could easily be absolute guff ] that ——
Dorin Goian is signing for Eskisehirspor.
Goian’s agent is quoted as stating that Goian agreed to a 75% cut in his wages whilst Rangers resolved their financial crisis . Agent quoted as saying that the financial crisis has not been resolved and consequently Goian is leaving.
Interesting twist in the tale is that Eskisehirspor will pay Palermo the sum owed to them for Goian plus a sum to Rangers which has yet to be negotiated.
Do the rules of football business allow a Club to pay the debts of another Club.?
Hot -very hot -way down south . Beach time !
DBBIA – It’s post 1973 and from north of the ole Mason Dixon line, so best to just move on, nothing to see here ;-]
This is it folks!!!
http://www.youtube.com/watch?v=YXfnZ7HYD_k
The champagne is in the fridge, the mackies vanilla is in the freezer and Im off on friday. Anything else i need for tomorrow?
Celtic set the cat amongst the pigeons,dont sign the SKY T V contract.if tv companies want to show live games at celtic park ,then they will have to pay top dollar for them to broadcast from there.same for commentary on the radio.same for the media that sit in one of best sections in the main stand.why is that ,they are not friends of celtic football club.fergus didnt hesitate when he found out they were useing the old press box on top of the main stand ,he chased them ,so celtic do what he done relocate them or just tell them to vacate the premises,oh and celtic have the balls to ditch tennants as our sponsers ,surely the size of our club can do better ,i remember when rangers main sponser on there tops was mckwans lager ,did the share with us ,did they hell. celtic stop trying to be the good guy all the time .our club celtic and our supporters have to come first, and if this present lot of celtic directors are not up to that, then we celtic s
Titter ye not…
MinceCFC @CelticMindedcom
Meanwhile, on http://FollowFollow.com… http://pic.twitter.com/t3rVhjot
Retweeted by Edgar Blamm
Dis this mean wee fat ally wilny get his warchest then?
Wee fat rino will be gutted!
sorry thursday!! getting way too excited.
philvisreturns on 12 June, 2012 at 10:55 said:
Hmmmm Weatherseal….
A company that is known for dangling the prospect of free windows in front of unsuspecting home-owners, only to subject them to a gruelling high-pressure sales pitch once the salesman is allowed in their home. (thumbsup)
~~~~~~~~~~~ ~~~~~~~~~~~~ ~~~~~~~~~~~~
If you paid the security guards at your gated enclosure a decent living wage,people like that wouldn’t be able to bribe their way into your home……
#Rangers in liquidation: accountants at BDO to take charge of investigation of past #RFC management. Football goes on, but which league?
@douglasfraserBBC