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.
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Quonno…..how can you POSSIBLY criticise the Celtic Board in all of this…..you’ve either just landed from another planet, or you have applied for FUD status….I’ll give you the benefit of the doubt and assume you have been on a long visit to Mars
Awe_Naw
thought that might be inaccurate, but in a good way ;-)
Son of Warsaw on 10 March, 2012 at 14:53 said:
Billy Dodds on shortbread, “it’s been a good week for Rangers”
——————————————————————————–
Last years favourite adage: ‘Never interupt your enemy when he is making a mistake’
applies in spades yet again.
sit back and laugh at the increasingly desperate stories they concoct.
whytey is still the pantomime villain. he may well be one, but he is less culpable than many of the guys now trying to ‘rescue’ rangers.
if a fireman watched as his mate came to my house and set it on fire, then came round with his fire engine as the place is engulfed is he a hero? Potential question to the ex-rangers directors now looking to ‘rescue’ rangers from fires started on their watch.
the scotslawthoughts blog sets out some of the reasons creditors can cite for making a complaint against the administrators if they think they are not being treated fairly.
Despite the rather bleak mood of the last couple of days I am still optimistic that things are a lot worse for them than we are being let to believe. The administrators have 4 more weeks to present their ‘solutions’ to the creditors.
That we are considering a ‘buy out’ rather than liquidation and newco at least means that they can be held to account for their debts by their creditors. And remember, as soon as the ‘buy out’ happens, player wages go back to unsustainable levels.
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 10 March, 2012 at 14:40 said:
St. Stivs
ta.
between that and the bilbao items every day is indeed a school day
Athletic Bilbao: do the guys from the Dolphin not do an annual trip there?
BT
Athletic Club, also known as Athletic Bilbao (although the club’s fans do not like being called Bilbao), is a Spanish association football club from Bilbao, in the Basque Country. The club has played in the Primera División of La Liga since its start in 1928. They have won La Liga on eight occasions. In the historical classification of La Liga Athletic are in 4th place and one of only three clubs which have never been relegated from La Liga (the others being Real Madrid and Barcelona). The club also has a women’s team, which has won four championships in the Spanish Superliga.
They are known as the Los Leones (The Lions) because their stadium was built near a church called San Mamés (Saint Mammes). Mammes was an early Christian thrown to the lions by the Romans. The lions refused to eat Mammes and he was later made a saint. The San Mamés Stadium is hence nicknamed “the football cathedral”.
The club is known for its cantera policy of bringing young Basque players through the ranks, as well as recruiting top Basque players from other clubs (like Joseba Etxeberria or Javi Martínez). Athletic official policy is signing professional players native to the greater Basque Country, including Biscay, Guipúzcoa, Álava and Navarre (in Spain); and Labourd, Soule and Lower Navarre (in France). Still, in recent times, this policy has been somewhat relaxed and players with direct Basque ancestry or with no Basque ancestry but formed in Basque clubs have played for the team. This has gained Athletic both admirers and critics. The club has been praised for promoting home grown players and club loyalty. Athletic is one of only four professional clubs in Spain (the others being Real Madrid, Barcelona and Osasuna) that is not a sports corporation; the club is owned and operated by its associates (socios).
wiki
Jabba reading this blog, Sandy Jardine & john McMillan just left a meeting very upbeat, that’s right two of the most knowledgable men in finance (apparently Warren Buffet doesn’t get out bed without giving one of these guys a call) are convinced that everything’s gonna be alright!
Press conference next week.
Dodsie finding his comfort where he can, ‘…it’s been a good week for ranjurz’
Doctor: I’ve got some good news and some bad news
Patient: what’s the bad news?
Doc: We amputated the wrong leg so we’re going to have to do it all again.
Paitient: Jeeesuus! what’s the good news?
Doc: The guy two beds down wants to buy your slippers!
Listening with interest to Alex Salmonds live keynote speech on BBC2 at SNP conference. Will be interesting to hear if sectarianism or Rangers FC gets a mention. Terrible, cringworthy, sycophantic introduction for him from Sturgeon there.
TJ
Lisb\o/nbhoy who thinks Neil Lenn(‘0’)n is a legend on 10 March, 2012 at 14:51 said:
“Brilliant news in the U19s league – table toppers Hearts lose 3-1 meaning it’s all in Celtic’s hands now”
Indeed, that’s great news, best of the weekend so far!!
Watched them win the double last year, recommend our fans get out there and support them.
You Bhoys may well not agree with me and I can understand why but imo the best thing that could happen would be for someone to buy Rangers then one of two things would happen.The new owner would dig deep and pay out the creditors in full so even HMRC would get paid in full ( very very unlikely to happen ).Or they get agreement from the creditors to pay back a large percent of the debts over many years.When you think about it including the big tax bill Rangers could well owe over a 100 Million the largest percentage of that to the tax man so depriving the state the opportunity to use that money for good causes that would handicap Rangers for many years to come ( Unlikely imo to happen ).The most likely scenario is they will be liquidated and try to arrange to return as Newco Rangers 2012 and leave there debt behind them but that wont be an easy route as HMRC are watching the situation very closely indeed.H.H.
btw, that Aberdeen game was the worst Celtic have played for months, and suggests Wilson/Rogne isn’t the great partnership some thought it was. The only players that can come out of that game with any great credit are Anthony Stokes and Victor Wanyama.
A lot of people giving Lenny benefit of doubt for such a fantastic run, but that game angered me, particularly when, even though Forrest had been utterly dreadful and Commons pegged out after 60 mins, McCourt never made an appearance. Obviously sad for Paddy, and a sure sign he’ll be off in the summer, but it also indicates Lenny’s intransigence when it come to certain players.
Re atletico/athletic, the only way I can remember the difference between them is that the basques would probably prefer to have an English name than a Spanish one.
For the more mischievous among us please note that scavengers.com has an ugly sister called http://www.rangersunite.com/ who is inviting you to pledge support and a donation. No they have not learned their lesson regarding made-up e-mail addresses. So if you are at a loose end and are feeling generous please make a pledge, you know it is the right thing to do.
I just hope Charlie was being a bit tongue in cheek on SoccerA.M this morning and hasn’t pissed off some of his fellow team mates!! Should hopefully be a good game tomorrow but I can see them scoring a goal. We’ll need to shackle MacKay-Steven, a bit of a handful, as well as young Russell, who may be out to impress.
Interesting take on the administrator’s comments on a sale of the club.
Anyone who makes an offer, will buy the club without knowing the outcome of the big tax case. In effect, they will be no different from Craig Whyte. They’ll put in a penny, hope they win the case, but if they don’t, they’ll already have a plan to liquidate.
What wasn’t mentioned, was the other potential ‘liability’ hanging over their club. Improper player registrations.
Long way to go in this one. I fear their only way through this is a deal with the ten – which would isolate us.
67Heaven … I am Neil Lennon..!!..Truth and Justice will always prevail on 10 March, 2012 at
Leaving aside that present manoeuvrings t suggest that in a Scottish football and media context, truth and justice will not be allowed to prevail.
As I intimated yesterday and previously, should THEY lose the HMRC case, DD and PL will be left to find ways of recouping income from the Champions League that Celtic and its shareholders, myself included, will effectively have been swindled out of.
Also the will have to sort out the difficulties of cutting commercial ties with what in effect will be convicted criminals and any sponsor that continues to back them.
On the face of it the Ticketus investment scheme is sound. It has been used in English football for a few years and Rangers first used it in 2009.
Usually its a short term thing to tie a club over before season ticket income comes in. So for example you sell 10,000 season tickets to ticketus for an upfront payment of £2m. This helps the clubs cash flow and in a couple of months when season tickets are being sold, ticketus gets the proceeds from the first 10,000 sold (or an amount predetermined in the event 10,000 aren’t sold).
Say for arguments worth the tickets are bought from ticketus at £200 (hence the £2m upfront) and are then sold to supporters for £300, ticketus make £1m in a relatively short period of time.
From reading between the lines, it seems someone at Ticketus got greedy in buying 100,000 over 3 years and when it became clear Rangers couldn’t make the initial payment, they bought another years tickets.
Now that things have got to the stage where ticketus are no longer guaranteed that Rangers will be around to sell those tickets, they’ve had to act to protect their investment.
Mort
sparkleghirl
Maybe an expert will come along later, but here’s my belief on the name thing.
Althletic Bilbao are, and always have been Althletic Bilbao, (probably for the reason you state) any confusion merely comes from Althletico Madrid.
HH
Blantyre Celtic beat Blantyre orcs 1 0 in the behind closed doors game.. o))
Athletic Bilbao’s first jersey was a Sunderland one. Athletic and not Athletico because of the English influence in the formation of their club.
Quonno…..fellow shareholder..Our Board will be taking action at the appropriate time, in the required areas…….as someone else said earlier ” they have played a binder so far” ..they are waiting to pounce as soon as our interests are adversely affected….but they have to be careful, since there are a lot court cases coming out of this……..patience, and vigilance, is vital in all of this………HAIL HAIL…….KTF
MORT……Correct……..Ticketus are only interested in not losing £24m ….. they could see rankers far enough otherwise…….the spin on it is hilarious
Laird of the Smiles aka PMTYH on 10 March, 2012 at 15:14
Thanks for the link Laird.
Samuel Blue has just indicated an interest in the 5K corporate package.
BT
blantyre celtic game was played at ravenscraig and there was a healthy wee crowd,including me.
some unsavoury bile from you the orc end but a lovely result indeed .
Celtic scoring from the spot awarded by a known H*n ref from blantyre
HAIL HAIL
“Athletico” Madrid should be “Atletico”
Or better still Atlético ;)
Oh, good…. butcher’s ICT getting beat 1-0……..by the team that SHOCKED rankers / LL……..LOL
tyrehoops
I was told it was at Cambuslang orcs..
when did it change?
Awe naw
don’t mean to be pedantic
but of the three players who made the huns first team
two played before partition existed and should be regarded in this
instance as equivalent to a player from Belfast or Derry
Only Stevenson really fits the criteria.
Paul67
“We must remain resolute and do everything in our power to escape from this sorry mess of a league.”
I couldn’t agree more.
However,do you believe that the Celtic board have taken any affirmative action to make this happen?
Do they even share your opinion?
TT
I don’t know if it’s been posted but it looks like not all of the huns are happy with one of their leaders
http://theweeproclaimer.wordpress.com/
Joe Fillipis Haircut
The Financial Services Authority (FSA) has just released a report condemning the corporate division of the Bank of Scotland (HBOS), accusing them of “very serious misconduct” over the period which led to its forced takeover by Lloyds Bank. One of the major criticisms concerned the exposure to the Commercial property market as a percentage of all Corporate Loans, and also to exposure to what is referred to as “single names”. Given that the head of the Corporate division during this period was one Peter Cummings, I will lay a pound to a penny that, in Scotland at least, one Sir David Murray, of MIH is one of those “single names”. MIH is still massively in hock to LLoyds Bank, and Rangers, which were part of the MIH, are in hock to the British government. To the British public in other words. It would take Rangers, and their “fighting fund” supporters ten years at £10 million per annum to clear current liabilities, not easy when 50% of their income has been mortgaged (or is it leveraged) over the next three years, but in theory doable. If Rangers choose or find another path, ie to try and avoid ( no make that evade) their debts to the British Public, then they are choosing liquidation, their chosen path to oblivion. What was it the Americans used to claim; “No taxation without representation”, well for Rangers FC that reads no taxation means no representation, at any level!
up_over_goal,
Agree about NL. Hooper was worse than useless last week yet the opportunity to give Brozek an opportunity did not seem to be considered.
Full credit to NL for what he has done but last week wasn’t clever. Hopefully he will learn from it.
From a poster on RTC.
Thoughts on Dingwall & rst. :)))))
http://theweeproclaimer.wordpress.com/
HAIL HAIL
sparkleghirl on 10 March, 2012 at 15:35 said:
Or better still Atlético ;)
How do manage to put stress marks over vowels? If you’d be so kind.
Monaghan
Maurice Jonston (vomit) just pledged £5k. Nice! HH.
The weeproclaimer has an Leggo/Spiers type obsessional relationship with Mingwall.
It’s funny, mind you!
Charlie on soccer am
http://www.socceram.com/media/video/0,21631,12612_7583935,00.html#