Quite apart from this week’s admission by First Minister, Alex Salmond, that he has been arguing with HM Revenue and Customs to “for goodness sake get a settlement” with Rangers, I continue to receive reliable assurances that HMRC are coming under pressure from all political angles to effectively offer state aid to Rangers FC PLC (in administration).
In short, if HMRC acquiesce, Rangers will have their debt zeroed and will be out of administration with only their 10 point penalty to show for years of financial doping.
Fifa guidelines explicitly prevent governments from interfering in football. State aid to any one club is about as explicit a contravention of Fifa rules as there can be. This jeopardises the places of Scottish clubs in next season’s European competitions and could lead to the Scotland national team being banned from the World Cup qualifying group, due to start later this year.
It is the SFA’s job to insist that all state intervention in football stops immediately. I urge you to write to the SFA chief executive, Stewart Regan, stewart.regan@scottishfa.co.uk
Celtic have an excellent chance of Champions League football next season and we don’t want politicians of any colour getting Scottish teams banned from international competition. The silence of the SFA on the subject, despite extensive media coverage, is very disconcerting.
It’s time for you to play your part in these important times.
Fancy writing something for CQN Magazine? Drop me an email and let me know what you would like to write about before you get started, just in case someone else has the same angle covered: celticquicknews@gmail.com.
There was some incredible late night action on the eBay action for the signed Celtic top in aid of the Vanessa Riddle Appeal. I’m stunned, check out the link below. You are pushing the reputation of supporters of Celtic Football Club ever higher.
Bid and help send Vanessa for the treatment she needs by clicking here. Only one day left.
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as the chap says, Octopus have 300mill currently invested in UK
not quite sure how it works but somehow it seems they take “an asset” from say Craig Whyte,
in exchange for a line of credit, invest it here n there
then give it back over time have made a profit
sounds like a stocks n shares type of thing
part of the 300mill is CW’s money / rfc fans’ money / HMRC’s money / my tax money !!
Awe_Naw_No_Annoni_Oan_Anaw_Noo says:
17 February, 2012 at 16:11
Awe-Naw. Would you believe my next post was going to be along the lines of ” I heart RTC”
Above everything that has been posted today those two tweets from RTC have restored my faith that the huns are right royally fecked.
Der Brucey…canny teach physics tae a dug? Whit aboot…Charles Barkla (nobel prize) or Ruaz Dogonandze? Nevil Mutt? Friedrich Hound…or is that Hund?
Che:
They can’t afford full beams, but I’ll be watching just in case.
Bed time for me.
Saint Jude pray for us.
To James the squeaky clean ice cream bandit
Oh james you are so niaive, we are all corrupt or corruptible. Ask every religeous man who ever lived. We are all born sinners. your hatred is misguided, the jungle is no paradise, it is all an illusion. one day soon judgement will reign over us. it is not too late get yourself to confession, better to be safe than sorry……
e-mail sent to Vince Cable
aprilsbhoy says:
17 February, 2012 at 16:14
‘The eis shelter is nothing to with rangers or their tax troubles.’
Interesting.
#####
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The Ticketus business model is based on purchasing an allocation of tickets for an event, up to two years in advance. (An example of this will be season tickets for English Premiership Football Clubs.)
Event organisers receive a discounted price versus face value for their tickets in return for an immediate level of ticket sales. Ticketus is then able to sell the tickets on to the general public at face value, to mitigate the potential distribution risk. The event organisers will distribute this portion of tickets first through their normal distribution channels, which allows Ticketus to recover its original investment, plus a margin.
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Ticketus only buys tickets for well established, long running events that regularly sell out. It only buys a portion of the tickets available, and ensures its tickets are sold ahead of other stocks available. By buying in bulk and in advance, Ticketus is able to purchase at a discount to the price at which it intends to sell the tickets.
LIQUIDITY
In order to provide investors with a clear exit route, the Octopus VCT Directors intend to seek shareholder approval to wind up the Octopus VCT and return capital to shareholders after the end of the five year holding period. Octopus expects that this approval will take place at the AGM scheduled to be held in August 2015.
This will allow investors to release capital, or perhaps re-invest into a new VCT and receive another tranche of 30% income tax relief (assuming that the appropriate VCT legislation is still in force in 2015).
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Over the life of the investment, this product is designed to deliver a minimum effective tax free return of 50%, after all fees and charges. This is calculated as 100p invested less the 30p income tax relief (which provides an effective net investment cost of 70p) with a targeted minimum return to investors of 105p. This equates to an annualised tax free return of 7.85% (equivalent to a return of 13.08% per annum for a 40% taxpayer). Octopus will not receive their AMC until this has been achieved.
OCTOPUS INVESTMENT TEAM
With a total of 120 staff including a team of over 30 investment professionals, Octopus has over £230 million invested in 17 VCTs under Octopus management.’
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Mad Mitch
The intention of the tax break is well meaning, investment in genuine small companies, however its hard to argue that ticketus is in keeping with the spirit of this and is not just a tax planning tool for the wealthy. I suspect Octopus might have a few more quwstions to answer when seeking its next EIS approval.
Stewart M. Regan @StewartRegan Reply Retweet Favorite · Open
Statement on Scottish FA response to Rangers situation due on scottishfa.co.uk due imminently.
tomtheleedstim says:
17 February, 2012 at 16:30
Exactly !!! I know how things should work but Bonny Wee Scotland HUSNAE surprised me recently
Hail Hail
CAn I just say that until I scan the league tables and see no Rangers then I will relax.
@StewartRegan
Stewart M. Regan Meeting held with administrator. We have refrained from comment whilst situation has been considered in full.
sixtaeseven says:
17 February, 2012 at 16:21
I think you’ll find that the html table in question has the liitle known “staunch” property set to true.
It will never surrender to timmy or timmy’s cohorts, the hmrc. never.
pabloh_AKA_NEIL LENNON says:
17 February, 2012 at 16:28
Thought that but it will not be a devalued title this we,ll win it by at least twenty points
re BBC league table, for the ninety-ninth million time, it will be updated once the points have been officially deducted, as of now, they have not
patience!
Scottish FA launch independent inquiry
Friday, 17 February 2012
The Scottish FA can today confirm its intention to conduct a full independent inquiry into the activities of Rangers FC and, specifically, a number of potential breaches of the Scottish FA’s Articles of Association.
We are concerned by the developing situation at the club and the new information that has come to light since the appointment of the club administrators, Duff and Phelps. The chairman and his panel will be briefed by the chief executive, Stewart Regan, next week and will consult further with the administrators, Duff and Phelps, as part of their inquiry.
We have been guaranteed full co-operation by Paul Clark, representing the company.
The Scottish FA’s previous efforts in obtaining information relevant to the Fit and Proper Person requirement has been restricted by the club’s solicitors’ continued failure to share information in a timely or detailed manner.
We now feel there is no option but to undertake an independent inquiry to establish the clear facts and to determine the extent of any possible rules breaches.
Stewart Regan, Scottish FA chief executive: “Since we have been unable to receive any detailed information requested in relation to Article 10, we feel we have no option but to appoint an independent committee to investigate a number of concerns we have raised.
“We expect the investigation to be concluded as quickly as possible and will confirm the outcome in due course. We will be making no further comment on the investigation in the meantime.
“Finally, I would like to reiterate the need to learn the lessons from this unedifying episode. 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.”
woops, it seems that they have now been deducted
There is more concern for Rangers going out of business than there was for our manager when he faced death threats. Horrible little country!
LB
Not been able to read all the posts today so the following query may have already been covered re tomorrow’s game at Ibrox.
In the current season Rangers have been using tax payers (state) money to subsidise their team……. FACT
The team they will put out tomorrow (and they’ve the brass neck to want to add Cousin to it) is only affordable because of illegal withholding of tax payers money……FACT
Kilmarnock, on the other hand, have paid their PAYE and are putting out a team which is affordable to them…FACT
The SPL have a duty to uphold the integrity of the league….FACT
So what is the SPL’s view of the proposed unfair competition about to take at Ibrox tomorrow? Shouldn’t the outcome be awarded 3-0 to Kilmarnock? (preferably after the game has taken place!) Letters to Doncaster time?
Too little too late Reagan.The Euro licence issue must also be pursued.
tomtheleedstim says:
17 February, 2012 at 16:35
That article is crying out to be Awe Nawed
Campbell Ogilvie better not be anywhere near it !!!!
HAil Hail
Tim Malone Will Tell says:
17 February, 2012 at 16:31
‘e-mail sent to Vince Cable’
Paul67
Could I suggest that you get Tari Robertson to deliver a petition to Vince Cable?
That would at least get his attention.
Paul,
Thanks for the rallying cry,,, will get logging the necessary objections asap
As Roman Maroni used to say “This is Fargin’ WAR !!!!!!!!!”
if it is true that Betts has links to ticketus and other companies linked to this debacle ,you would think that someone somewhere would be digging up the truth and the evidence to sort this lot out .
From where I am standing it looks like a total and utter scam from top to bottom .
To think someone could come into a club the size of ragers and do what it looks has been done is astonishing .
Are HMRC/SFA/SPL /POLICE /UEFA /PM/FM/MSPs ,telling every tax payer in the UK that this is acceptable .
If this is what passes for capitalism then we are all f@@@ed pure and simple .
A conveyor belt of pigs throwing their snouts into the trough and walking off knowing all the other pigs will hit us with the bill .
Tainted titles does not even touch the surface as to what has gone on at that club for decades or more .
The idea that they thought they could move this guy in and let him do what he has in the last 8 months ,tells me exactly all I need to know about them .
hail hail
P67. Where do I send email? Re Vanessa.
!!Bada Bing!! Kano 1000 says:
17 February, 2012 at 16:23
………………………………………………………………………………………………………………………………..
Totally agree with you re: UEFA, FIFA standing back from the huns. Then again, a couple of slaps on the wrist for ‘sectarian-singing’ apart, the huns have walked away, shamelessly from all of their other sins and, I hope I’m wrong but…..I think they’ll wriggle-off the hook this time as well!
If the huns do walk away, relatively unscathed from their current mess then, I think that PL etc…have to use the spin-doctors at their disposal and, get the agenda going to get out of this Nazi-state!
Btw, we are the Jews of the said, Nazi-state! IMO!
P.S. I don’t intend to offend any Jewish people by saying that.
Hail! Hail!
Holy Jesus …. Incredible.
What a statement from Stewart Regan. I’m glad I took a positive tone with him in my email earlier.
The worm has turned. Scottish Football is finally angry.
James Forrest please just ignore the wee billy blonker he might go away
From Stewart Regan’s SFA statement from 14th Feb:
‘. . . there is an appetite and momentum for radical change in Scottish football . . .’
There has been for quite a while, Stewart. Has something happened now that you want to speed up the process?
Awe-Naw – it should end “WATP”
livibhoy
Why dont you crawl back to your own country, and to the stone you slithered from?
just wondering…………………..
will newco/neo-co use the same abhorrent logo/strip? they will have no history? no titles? no past? no nothing?
from year zero? a new & frightening re-birth of the orc. oh my……… time for a lie down to take that on board.
Fencelt
already done !!!
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Inquiried to death…eventual whitewash….RFC still in SPL…worth 10pts. to any tax- evading bastard.Sets a precedent….free-for-all to follow,follow.
Thug F.C. setting an example & a precedent.
You couldnae make thus stuff up…..but THEY are.
James Forrest is The Emperor of Ice Cream says:
17 February, 2012 at 16:08
excellent post !!
THANKYOU !!
Happy Birthday El Diego
the Kindle will grow on you.
Its a nice supplement to your big present – their insolvency !
tomtheleedstim says:
17 February, 2012 at 16:40
If you print it off and Iron it … it does say that !!!
Hail Hail
E-mail sent to both organisations!!
hail, hail!