None of you will be surprised at today’s opinion from the Court of Session in Edinburgh that Rangers’ deal with Ticketus cannot be set aside, despite some absolutely pitiful reporting to the contrary. It’s fine to get things wrong every now and then, we all get Duff information on occasion, but please….
It’s worth recording, Ticketus may only have paid £20m + vat but the tickets they own are worth in the region of £40m. High risk investments require a high return.
Rangers’ administrators argued that the deal inhibited their ability to rescue the company but the heroic Blue Knights submitted a bid accommodating Ticketus, undermining the administrators’ argument. If only the Blue Knights were in a position to strike a deal with Craig Whyte they could be regarded as helping the situation instead of being hapless fools.
Next up is HMRC, who have not capitulated and agreed to accept a few pennies in the pound. They have not agreed to accept anything less than all monies owed. Soon after that we will hear that no court has been able to set aside Craig Whyte’s security over Ibrox. The most underappreciated man no longer in Scotland remains the only person with a reasonable chance of phoenix-ing Rangers.
The first 26,000 (approx.) tickets sold to each Rangers game for the next three years are owned by Ticketus. In the event a phoenix occurs, Rangers will have to revert back to budgets from their glory days of the 1950s – we will soon be told this is a great omen.
If you are going to Ibrox on Sunday, take care and enjoy your visit. Take photographs of the occasion and send them in, we’ll perhaps use them on a future edition of CQN Magazine. It may prove to be the end of an era.
If you’ve not read the article below, about one of Jinky’s great performances, do so now.
Issue 7 of CQN Magazine is out now! Go to the dedicated magazine site here to read it properly (which you’ll not be able to do below).
Thanks to everyone who has bought a hard copies of the magazine, it looks like the sold out sign will go up again. Order your copy for delivery by clicking on the link below for news and views from Celtic supporters.
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Hearing that d&p are happy with the ruling as it means that ticketus don’t have to be paid and that they can refuse to honour ticketus arrangement if they want. Anyone shed any light?
SSN Just In
Duffers putting a positive spin on court decision!?!
It will let them move forward with the Bru Knights.
A pun of square slice should help…
an Edinburgh jury actually made the correct decision
wooft, unbelievable times
!!Bada Bing!! Kano 1000 on 23 March, 2012 at 17:05 said:
Is there new tax laws on 1st April,?Paraphrasing-that a new company morphed from a previous one, could still be liable for various taxes accrued by the old one?
===================
NAW! How many times?
Randy Marsh on 23 March, 2012 at 17:21 said:
Aye and Ticketus will say “Wheres our £24M?” and sue.
but to get back to football, the huns have not had to release any players so any press hunguffery about them having to play youngsters is bollocks, although ‘Super Ally’ might have a ‘cunning plan’
ernie lynch on 23 March, 2012 at 17:16 said:
Which supports the idea that Ticketus will bankroll a Newco on the basis they get their money back – eventually.
Perhap sat less than 25,000 a season for four seasons but still a chunk out of Newco main income stream. (No UEFA money7 for three years remember)
ernie lynch on 23 March, 2012 at 17:16 said:
I have to disagree with you
Not sure I 100% agree Paul67.
The judge seems to state that no real right to the tickets exists as yet (as they are future tickets) and therefore Ticketus cannot assert ownership of that right. At the point when Rangers (in administration) sell the ticket, then Ticketus become a creditor to the value of the money raised, although the judge states that, as is standard, the administrators can renege on paying this if it is the interests of the creditors as a whole.
However, the administrators cannot currently void the contract with Tickets so if Rangers were ever to exit administration then they would have to honour the deal.
Paul
great Jinky piece
happy birthday on 6th May when it comes
ages yet
haha
all quiet out here in the desert
jelly n ice-cream in full flow
gonna miss the golf trip
but hey-ho
maybe again in days to come
i go for 3-0 for Celtic on Saturday
said 5-0 v killie
shows what the heck do i know ?
haha
fine news re “I’m Ticketus”
40 big ones !
i think paul67 you might have to alter the article headline as it
now looks like duff and duffer will break this secure ticket deal.
whos biggus ticketus and his wife incontinentia buttocks?
Auld Neil Lennon heid on 23 March, 2012 at 17:28 said:
So it’s very like someone telling me that it’s ok to fill my car up at a petrol station then driving away without payment. Fine at the time but I can expect a knock on the door from the polis
Auldheid- No need to shout :}
Sir Paul
Kiddo..Ye ur a Marvel..
Ye ur the Foist Commentator.. tae Gie Yer Public..
a Shufti.. at…
Jist how bad the situation is, right at this time in Denmark!
Yer STARTLING… Public Disclosure .. That the Actual REVENUE LOSS.. tae the Squealin’ Piglets.. is..
No.. Anything LIKE that .. Twenty Four Million Pound Figure..
Which ,has bin Foisted oan the Public by the Ibrox jounalistic Lick-Splitals
Nah..
The Loss tae the G.A. precious Revenue Stream.. wul be Mair in the Line of the FORTY MILLION figure which ye
proposed…and..
Who Knows?
The Bleeding may be closer tae FIFTY MILLION!
Nae Maitter.. In Ma opinion.. Under the Prevailing Circumstances.. Nae League Title.. Nae Euro fur the Next .. who knows fur how Long..
That Loss of Income , wull pit the Tin Hat oan the G.A. Scarecrow!
Fur.. You Know and Ah know that Ticketus, is no gonna Settle fur a Mere.. Ten or Twenty Percent DISCOUNT..oan thur Cash.. fur Taking a.such a
LONG TERM RISK.. and
If Ah wus Risking Ma Money tae A Borrower.. which wid involve a THREE YEAR WAIT..afore Ah could Expect a Profitable Return..
Ah wid want a FIFTY PERCENT PROFIT, oan the Ibrox deal. especially, under the Prevailing Impecunious Conditions which are noo .. the Menu of the Jour .. at the Broken and Disarrayed Enterprise that Represents the G.A. of Today.
We are jist aboot tae start the Final Act… at Govan in the Mire.
and..
It is jist aboot this time.. Ah wid Reckon… that …
The Scottish Guy in Dad’s Army … is Rehearsing Afore the Mirror.. his Doleful and Depressing.. Lines..
Yep….It sure looks tae me.. that .. soon, he wull get that Message..we all greet wi’.. Nervous Anticipation..
“Son… Ye’re Oan.. Break a Leg!”
Kojo
Still . Laughin’
How much do these lawyers get paid to issue a judgement that nobody understands?
Maybe they should have written it in Latin.
RaRaRasputin on 23 March, 2012 at 17:35 said:
I think you have cleared this up for me now,cheers.
For those unsure about the apparent ambiguity dont worry…..
Gordon dalzeil will explain it all to us on SSN shortly in ‘simple mans’ language !
Happy Birthday Bertie….
Love this quote……
On being asked how the (at that time, current) Rangers team that went on to win nine in a row, would fair if they were to play a match against the Lions, Bertie replied:”If I’m honest I think it would be a draw, but to be fair most of us are in our sixties!”
As ticketus have the rights to FUTURE tickets does today’s ruling mean that duff and duffer can say they are renaging on all the tickets or would they have to honour the contract in future seasons as the tickets fall due .
Also if ragers need 75% agreement for a CVA and with ticketus and HMRC as the biggest creditors ,why would these two agree
hail hail
uummmmmm – http://www.rangers.co.uk/news/football-news/article/2690528?
spin spin spin spin *fingersinearswe’renotlisteninglalalalalalala*
Dalziel,Hateley,BFDJ,stupid huns.
Paul67
Think folk/posters are wanting to know is……
good or bad news for rangers?
(some folk think it’s good news for rangers, others saying it’s bad news)
setting free the bears
The latin reads ‘Ursi sunt adhuc mortuus’
Compare : http://www.youtube.com/watch?v=2vntBg5uWKg&feature=youtube_gdata_player
And contrast :http://www.youtube.com/watch?v=1pDk75Y1SZ4&feature=youtube_gdata_player
Gerry
Gordon Dalzeil is the man we really need to hear it from. or Hatley or BFDJ……
Paul 67, RTC etc they have never even played the game, what do they know ?
Why am I so feckin happy being a Tim ??????
Aipple
So they won’t be needing seats then? :-)
When oh when do we move passed the denial stage ?
Fighting Funds (AKA Duff and Phelps) have raised Comical Ali from the dead. He has already had his first press conference at the big hoose
http://www.youtube.com/watch?v=W9aW1atFLMM
So effectively the administrators argument is that Ticketus only have a contract and they can just go ahead and break that if they feel like it?
What comeback does Ticketus have then – presumably they could sue for breach of contract?
Taxman wont walk away from Wee Wullie Bluenose, http://oi39.tinypic.com/8xkhs6.jpg
I fully endorse the judge’s decision. Now, what does it mean?
Headscratching.com
What a mess.
Happy Birthday Bertie Auld Lisbon Lion..
Bertie to Tiny Wharton(Referee) – “If I call you an a*sehole Mr Wharton will I get booked?” Tiny. – “Yes Mr Auld. You’d be in trouble.” Bertie.- “What if I just thought you were an a*sehole, what would happen?” Tiny. – “If you just thought it nothing would happen” Bertie. – “Well Mr Wharton, I think you’re an a*sehole”
My dear,dear,dear,friend..Gerry
Pal. Ah kin Help ye ..understaun it..
The Lord’s Decision .. is..
NO GUID NEWS, fur the Bidders!
And it is So easy tae come tae THAT CONCLUSION
Fur..awe ye hiv tae dae is pit it this way..
If The Judge Had Ruled that Ticketus hiv NAE CLAIM,, tae the Tickets..
then..
THAT.. Decision. Wid Be.
GUID NEWS! Fur the Bidders..
And. as ye well Know.. That Decision by the Judge.. didnae Happen..
Heck. as soon as Ye are Aware of the Difference ..
Between
Guid and Bad News..
Everything becomes Clear..
And it is this
The G.A. are Still Marooned, Up that Smelly Creek.. and canny find that Damn Paddle… Anywhere!
Kojo
yer pal.. who likes ye aloater.
Still… Laughin’
it seems that the confusion is lying between scots law and english law,
its all very confusing nevermind law.
The one certainty is that there is uncertainty……only a madman or major speculator will risk a thin dime until the uncertainties are clear……