Quantcast
Ticketus show their muscle

Ticketus show their muscle

268

It’s still difficult to differentiate news which sounds important with information that is important.  Rangers doing a deal to retain their (underperforming) players for their remaining meaningless leagues games was news, but not important information.

Administrators amended their contracts to include release clauses.  This means that although top players have taken a hit on their wage packet, they will at least earn something, whereas redundancy would have left them without pay until the summer.  Their agents are also able to line up deals for them with other clubs.

In other unimportant news, Steven Davis and Neil Alexander both put their homes on the market yesterday.

The important information came from Ticketus, who own what will be the vast majority of season tickets for the next three seasons, and have partnered with Paul Murray and various supporters’ organisations to bid for Rangers.  Ticketus will not be top of Murray’s list of partner organisations but he will realise the club is in their control.

The consortium’s stated aim is to emerge from administration via a CVA, which I still regard as absolute fantasy.  As Phil Mac Giolla Bhain reminded me with his article from January, HMRC already rejected an offer of £10m to settle from Craig Whyte, notions that they would be prepared to accept less now is hilarious.

Rangers will liquidate.  Duff and Phelps plan to sell their league membership share to a new company leaves Ticketus ownership of the tickets in place.  Plans to sell the league membership to a consortium headed by the company that enabled Craig Whyte to work his magic, and a director from the old improper-contracts regime are, literally, incredible.

We must remain resolute and do everything in our power to escape from this sorry messy of a league.

CQN Magazine issue 6 has sold out, many thanks for all your support.

Share.

About Author

268 Comments
  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6

  1. GourockEmeraldBhoy HAILS THE KANO FOUNDATION on

    Can’t wait till the game tomorrow… think it will be a tight one but 3.1 would be a great result.

  2. And what does the new consortium do when the tax bill hits? Assuming that Ticketus want to at least break even out of the whole nonsense, who’s going to come up with the capital to keep a team of roughly the same quality of team together because without that Ticketus will probably still lose their investment?

    To paraphrase some film that I’ve completely forgotten – “Why won’t they just die?”.

  3. Tricoloured Ribbon on 10 March, 2012 at 12:23 said:
    1st coorslad,
    wish you were as quick up to the bar..

    One time I used to be a regular first..Its a long walk to the bar in Tracys..
     

  4. Paul67

    OK, as you seem to be talking SPL resignation –

    Leaving aside economic reasons for not doing so, if Celtic were to apply to, say, League 2, what’s to stop a newly formed Rangers 2012 from hitching on the back of our ride?

  5. ah well , it was close. decided to enjoy my birthday anyway even though the big present of liqidation never arrived in time.
    Still I agree that it will soon be here. I posted last night that all of a sudden there is a rash of “good news” about. Strange?
    I just see a panic about all of this to get a deal of sorts sorted before wages day and vat quarter due payments due.
    The big stuff, EBT`s and ALL that is involved there will be their downfall, that and their inability to shrug of the Redneck White Supremacist attitude that prevails.
    HH off to Jamie`s Italian to stuff my face, then back home for Rioja, Cava and Manchego by the wagonload.

  6. Ticketus: “The members of the Consortium are united in their belief that a collaborative approach is essential in securing the Club’s future through a CVA, thereby achieving a fair and fast resolution that will put the Club on a secure financial footing. Through a CVA rather than liquidation, the Club will benefit from being able to qualify for future European competition and access the significant revenues associated with this. Preserving this revenue stream, and the Club’s 140 year old legacy, is paramount and in the best interests of all parties.”

    So a CVA is fair? Letting the club off with 90%+ of debts to taxpayers and others is fair? Still, as long as Ticketus makes money, eh?

    And a CVA preserves the history? So is it the Consortium’s official view therefore that liquidation would end it?

  7. James Edward McGrory 408 goals in 408 league games on

    Paul67,

    Are you an estate agent on the sly? I’d love to know how you know davis & alexander put their houses up for sale :p

  8. Fountainhall Bhoy on

    Rangers will liquidate. Duff and Phelps plan to sell their league membership share to a new company leaves Ticketus ownership of the tickets in place. Plans to sell the league membership to a consortium headed by the company that enabled Craig Whyte to work his magic, and a director from the old improper-contracts regime are, literally, incredible.

    This is the bit that is amazing, D&P not showing him the door and the media hailing him as some saviour. You could not make it up!

    Going to the match tomorrow, any suggestions for good bars pre match?

    Hail Hail

  9. I love the little things tucked away, like the houses up for sale and of course the biggest news, issue 6 sold out.
    From a blog with a few articles a week, to the daily update around 1pm, now sometimes a hourly update, all your hand work through these time it must be good feeling with the sell out. Well done Paul

  10. what are the shareholders/stakeholder
    in ticketus think about investing in this
    black hole of a club
    money down the drain
    lost invesments
    think what happened to R.B.S

  11. Alasdair MacLean on

    Paul 67

    You are depressing me!

    I can’t believe such a dastardly squence of events could be allowed to happen.

    I’ve spoken to a few Rangers supporters in the last few days who, when I put the this scenario to them, had at least the grace to look embarrassed and stated they would rather go down to the bottom.

  12. Paul,
    FWIW id rather Celtic removed themselves from the SPL when Newco are reinstated, but I just can’t see it happening.
    Best WE can hope for out of this?
    Liquidation means no European football for 3 years and no history. Zero stars.
    To quote a famous blogger, could this be the start of a generation of domination?

  13. Joe Filippis Haircut on

    I still see Paul Murray and ticket us as smoke and mirrors Murray wasnt interest when he could have bought the huns for a £1 so why would he buy them now ? I still see it as getting into position for newco 2012.In order to buy Rangers at the moment agreement would have to be agreed with all the creditors to take something like 10p in the pound and HMRC for one wont accept that the current club are not viable its as simple as that.We are getting lots of spin at the moment but there has been no change in there plight. H.H.

  14. So will ticketus fund Murray,and when he goes belly up they own the lot..sounds like they want the lot..they have have tickets to events that might not happen,so they have to ensure that they do..

  15. James Edward McGrory 408 goals in 408 league games on 10 March, 2012 at 12:30

    Both are CQN Blog lurkers and willingly passed on the snippet.

  16. Paul I thought the SPL share reverted to the SPL upon liquidation and is not an asset that could be sold. Is it not more a member thing eg I am a member of a golf club if I can no longer afford it I am out and I cannot sell half a years membership to someone else

  17. Paul67

    I don’t think any of this is too surprising or sinister – all parties are acting as expected

    Having been stiched up by Whyte Ticketus are forced to align themselves with a group that claims to want to buy RFC as a going concern – it is the only way they can retain any significant value in the tickets they own – the problem they have is that there is only one group that is going to put in such a bid the Blue Knights

    The Blue Knights bid is going forward because it is sponsored by WATP and they still believe that they will be allowed to indulge in the same chicanary they have practised over the last couple of decades – they are a group of supporters still in denial

    Nothing will come of it – due legal process will puncture this floated balloon

    VertWolf

  18. greenbhoy67

    The SPL is a legal private company with an allotted share capital of £16 divided into 16 £1 shares. Each member club owns a share and when a club is relegated, it is required to transfer its share to the club who gets promoted.

    Just like any other company any of the shares can be sold to any other but the articles of association have specific rules on when transfers can happen and who can purchase a share.

    Mort

  19. All the posts calling for Celtic to bail out and join the EPL. Hasn’t anyone considered the rather strong probablity that the EPL will collapse in the not too distant future. All it will take is the first domino to fall….

  20. James Edward McGrory 408 goals in 408 league games on

    Mort (previous thread)

    I completely agree with you on both points. NL has made more successful signings in his time than failures. My point wasnt so much about the money spent on Juarez’s acquisition but more apoplexy at why he isnt being given a reasonable opportunity to stake a first team position. I cant remember him ever being given a consecutive run off games before we loaned him out. I just dont understand why we bought in the first place for such a figure if we were not going to give him a chance. I understand he might not have settled into life here and it may have affected his form but I didnt think he played that atrociously bad to merit being loaned out.

    On the subject of how the club has been run. I completely agree, it is a testemant to the board and manager that the price paid hasnt had a catastrophic impact on our finances. I would much rather we employed a business model that awarded our youth developed players first shot at the first team than spending money on players who we are never going to play though.

    For example, we have wasted £3m on Juarez were we could have built more Youth facilities at Lennoxtown. An opportunity wasted in my opinion. I hope the board and manager think twice next time before spending so much on a player and have more faith on the youth academy, investment will bring success.

    Hail Hail

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6