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Bigger questions loom than reconstruction

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We now know that Craig Whyte met Neil Doncaster and Ralph Topping, directors of the SPL, in London in October 2011 and informed them of the likelihood that Rangers would go into liquidation.  Whyte’s plan, to start a Newco and have it parachuted into top flight football was only taken seriously as a result of these three having a head start on everyone else and doing some preparatory work.

Charles Green has no such plans.  If he loses Ibrox, becomes embroiled in IPO-related troubles or fails to bridge the gap between money-in and money-out, an unplanned liquidation could follow with a potentially protracted period where physical assets are moribund and playing assets and other staff are released.

The SPL and SFL would do well to consider ‘what next?’ when they hold separate meetings next week.  The century-old ways are gone, things will never be the same again.

I’m really pleased the aforementioned Charlie issued an apology for his offending comments, even if he did so under duress from the SFA.  This kind of rhetoric has taken control within football in some European countries.  Once the door is open it is hard to close it again.
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  1. Hi Paul67,

     

     

    The Whyte Knight took his preparations seriously, perfect planning and all that. Still didn’t work oot too well in the end, you’d a thought Mr Topping being a Gers man could have helped out eh!

     

     

    You mention liquidation twice, once in relation to oldco and once in relation to newco.

     

     

    I notice in the Hearld article on today’s quick news update the MSM have difficulty with the word stating that the club went into administration three times, even stating the Company that ran Rangers went into administration.

     

     

    Are some folk in Scotland having difficulty coming to terms with the FACT that Rangers went into Liquidation?

     

     

    Hail! Hail!

  2. Joe Filippis Haircut on

    Can I dare to dream ? I have never felt that Rangers would go out of business there are to many rich Lodge members who in my opinion would ensure they survive.However,as far as I can see they are struggling to survive as a newco with the police investigating the deal between Whyte and Green and ticketus winning an award of 17 million against Whyte. If many on CQN are correct there current outgoings are more than there income and they are getting rid of staff to trim the wage bill.I think the crux of the matter is who has current ownership of Ibrox and Murray Park as that is the only assets that they could pawn to reduce some of there financial problems but it might not be theres to pawn.So at the moment I dream that they will not survive and we will be rid of this devious cheating club.H.H.

  3. The Battered Bunnet on

    Don’t know if anyone else has noticed, but Ntassoolla is an anagram of Anal Stools, which given the comment above, seems apt.

  4. AndyM

     

     

    12:59 on 11 April, 2013

     

     

    ‘BatteredBunnet – normally I would have, but the source was unusual in that he rarely goes in for that kind of sensationalism. We shall see.’

     

     

     

    See if come 3pm there’s no earth shattering announcement how about telling us who your friend is?

  5. Seven Barcelona players have become dads or dads again in the course of this tumultuous season.

     

     

    All the weans have names that would raise an innocent eyebrow, in my opinion.

     

     

    Pinto – a boy called Nathan (not Natán, as in the Spanish translation of the OT prophet) but Nathan, as in “good old reliable … ” from Guys and Dolls.

     

     

    Víctor Valdés – Kai.

     

     

    Lionel Messi – Thiago (Portuguese for James, which is fine, but wee Leo doesn’t speak Portuguese).

     

     

    Gerard Piqué – Milan. As in the city. In English. I was hoping this was Catalán for the wonderful sixth century monastic reformer, St Emilian, but it’s not.

     

     

    David Villa – Luca, as in the Italian version of Luke, which in Spanish is Lucas.

     

     

    Wee Pedro – the aformentioned Bryan.

     

     

    Cesc Fabregas – Lia. Wee Lia is the only girl in the group. She was born during the game last night. Not sure about this one. Not even sure how it will be pronounced. Lía is a word in Spanish, from the verb líar. It has many meanings, most of them not ones you would want to associate with your baby daughter, but who am I?

     

     

    Long life and good health to all these weans.

  6. How many points do you get deducted for going into administration for a second time?

  7. tomtheleedstim on

    Estadio

     

    12:55 on 11 April, 2013

     

    Right…time for a cure…

     

     

    Genuinely lol’d at that. I know the feeling………

  8. SmashingMilkBottles on

    Will Dodgy Dave get wheeled into prison?

     

     

    If true, I will pish masel laughin’

  9. The Battered Bunnet

     

     

    13:01 on 11 April, 2013

     

     

    It’s very much in the attention whore, trolling style of the multi monikered one. Best ignored.

  10. Wanted not too bright Billionaire or Millionaire, must be willing to throw good money after bad and entertain the thought of millions disappearing doon the stank while the business recovers from recent poor results and acheivements.

     

     

     

    Please apply in person to Walter Smith (Legned)

     

     

    Ibrox Stadium ( for the moment)

     

     

    Govan.

  11. 16 roads - Neil Lennon walks on water. on

    Had a wee swig of ACGR’s whiskey there,neat…it seemed to awaken my senses.Can’t believe how clean and smooth the stuff tastes,even though it’s over 59% strength.Pure beautiful.

  12. Gene's a Bhoy's name on

    Twomacaroons

     

    Newco have never been in administration -it would be the first time

  13. Paul67: ‘We now know that Craig Whyte met Neil Doncaster and Ralph Topping, directors of the SPL, in London in October 2011’.

     

     

    Now I wonder if a recording was made at that meeting? Hmmm

  14. Asonofdan,

     

     

    From last thread.

     

     

    That statement from Regan makes for depressing Regan.

     

     

    The casual inclusion of being ” demoted” and the “institution” reference, indicate that officially, normal rules will not applied.

     

     

    The reality of them being a new club has been airbrushed out of the national conscienceness.

     

     

    I agree that it suggests that not enough was done to get them included to a higher league.

     

     

     

    His mention of reconstruction as being a complication in dealing with Rangers’ problem, is a lie, as recon was not on the table last year.

     

     

    It will take combination of legal and fiscal integrity for justice to be done, but breath not being held.

     

     

    Now to read the article.

  15. The Boy Jinky on

    Lasty

     

     

    I see your point about the older gens remarks. .. my old mum was prone to innocent gaffes like that. And she meant no harm.

     

     

    But greens at it… im sure it was a deliberate slip up. If it wasnt …hes even more deluded than I thought

  16. Andys Statement is almost word for word the same as an opening post on a Bears Den thread. The uglies are treating it as male bovine excrement and for once I think they are right. I suspect its one of our lhads on a wind up.

  17. Ernie – he’s a rangers man and he’s a level headed guy so I wouldn’t do him the disservice of naming him on any website let alone a Celtic one.

     

    I’m not trying to stir anything up just asking if anyone else he been told anything similar today regarding Sevco, according to ASonOfDan there have been rumours going around of a similar nature.

     

    Fingers crossed.

     

    Bet the Dallas Cowboys will be gutted if they do go to the wall.

  18. Shoorly….if Reagan and Dungcaster say that the “Newco” is the same club as the “Oldco” then a heftier points deduction than the 15 that Dungfermline got should apply as it means they are going into admin for a 2nd time….yes?…YES?

  19. The Battered Bunnet on

    Andy

     

     

    MVL is a common enough process, but it is an exceptional one, and carries a load of challenges for a plc, let alone one that carries forward contractual commitments measured in years.

     

     

    The purpose is to permit Shareholders to close a business down and return what remains of the assets to them.

     

     

    In a business where there is a shed load of cash, minimal liabilities, and few shareholders, and where the purpose of the business no longer exists, it can be accomplished fairly quickly and to good effect.

     

     

    In a business where the liabilities to shareholders and creditors (inc players) exceeds the foreseeable cash in liquidation, and where the process requires an extraordinary resolution of the shareholders at large following requisite notices, and which is likely to last years before ultimate distribution of cash and dissolution of the firm, it makes no obvious sense.

     

     

    I don’t doubt that there are all manner of problems down Edmiston Drive these days, but a MVL solves none of them as far as I can determine.

     

     

    TBB

  20. ArranmoreBhoyLXV11 on

    HH

     

     

    And those Dallas Cowboys cheerleaders will be gutted to miss out on a half time performance with tanks…

  21. corkcelt – fair enough, didn’t bother checking in there, although given that they still seem convinced Green is a straight shooter with their best interests at heart and McCoist will be a top manager once his war chest arrives I would treat the opinions of that collective with deep suspicion.

  22. 16 roads - Neil Lennon walks on water. on

    PSG were by far the better team against Barcelona in last night’s game.

  23. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    Paul67,

     

     

    Glad I read your article first…..was going to make a quick comment, to the effect,,,

     

     

    “St Mirren will be having a wee rethink as to whether or not to ‘toe the greengo line’ with the recent revelations / developments”

     

     

    But you put better than me, as usual…!!!!!!!!

  24. TBB – cheers for that. My higher Accounts has been badly exposed over the past 14 months, think the SQA might want ‘a word’.

  25. Afternoon all

     

     

     

    Just heard Jeremy Clarkson has been invited to Thatch’s funeral. And there was me thinking he was a stand up guy.

     

     

     

    Jimbo

  26. Seen this on TSFM

     

     

    vThe Mongoose

     

     

    Ian Durrant

     

     

    True Blue

     

     

    698 posts

     

    Gender:Male

     

    Location:Glasgow

     

     

    Posted Today, 11:34 AM

     

     

    If you check out my posts you will see that I am a pretty positive guy and hope I am wrong with this latest ‘Rumour’ that is starting to spread

     

    Apparently there is going to be a Huge Announcement from Rangers this afternoon at 3pm. We are winding up again for another administration. Green has more or less admitted Whyte is still running Rangers and wants out.

     

    There will be a MVL (Members Voluntary Liquidation) which means that anything over a million that’s not having an investments returned. The share issue as an example.Walter Smith is trying to rebuild the Blue Knights n Parks PLC to buy out Green & Whyte once and for all.

     

    As I say only rumour

     

    Hope its Bul****t

  27. Fifa rankings

     

     

    Republic of Ireland are 39th, Wales are 49th, while Scotland are 77th.

     

     

    Maybe someone should show the likes of Gilmour this and tell him we need change NOW!

  28. TwoMacaroons

     

    13:03 on

     

    11 April, 2013

     

    How many points do you get deducted for going into administration for a second time?

     

     

    …………………………………………………………………………………………………………….

     

     

    If ‘they’ do go into admin, this will be a first because they are a NEW CLUB – the last lots 140 year history was flushed down the tubes! :-)

     

     

    HH!!

  29. Paul67

     

     

    “The century-old ways are gone, things will never be the same again.”

     

     

    I think this is where the problem lay last mid season but events since are causing a rethink.

     

     

    Its not as if finding, developing and paying players a wage a club can afford is rocket science is it? Especially if they can be sold on for more.

     

     

    If only the msm were quicker at catching up on developments or is that letting go of their security blanket?

  30. Joe Filippis Haircut on

    Even if they stagger on does anyone really believe fat sleekit Ally will be given a 10 Million war chest ? if there outgoings at the moment are exceeding there income we all know that can only go on for so long before the brown stuff hits the fan. I would like to think it will be many many years ir ever that they will be back in European football and challenging us for titles. H.H.

  31. Yeats

     

    Sevconians and the SFA

     

     

    Turning and turning in the widening gyre

     

    The falcon cannot hear the falconer;

     

    Things fall apart; the centre cannot hold;

     

    Mere anarchy is loosed upon the world,

     

    The blood-dimmed tide is loosed, and everywhere

     

    The ceremony of innocence is drowned;

     

    The best lack all conviction, while the worst

     

    Are full of passionate intensity.

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