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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Go away zombies,be gone,be gone…
jimbo67
13:12 on
11 April, 2013
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
………..
He is driving the hearse.
Did Regan really use the word “demoted”
tallybhoy,
Yeh i realised my error almost as soon as made it, see above :-)
Hawkeye for the Epl bigger mics around the Celtic technical area for the SFA
Cheers auldheid and asonofdan
Regan has made a cross for his own back with his latest statement, by implying that they are the same club then it would follow that a 2nd administration event would mean heftier penalties or if the are a new club then it’s a first administration, so which one is Campbell eh I mean Stewpot??
Googbhoy
Very dignified!
Jimbo
leftclickcelt – cheers, it’s looking more like kite flying. Ho hum.
PJB – what rough beast slouches towards Bethlehemto be born?
If today’s events unfold as has been rumoured and it is confirmed that whyte and green have been partners as such from the get go then surely there will never be a better time for clubs (with Celtic leading the way) to request (Sally can demand of course if he wants) the removal of regan
What’s happened to Murray’s statement that was due?
Dunfermline’s fight for survival received a major boost when they were granted full administration by the Court of Session in Edinburgh.
The Scottish first division side had been in interim administration since last month after being issued with a winding-up order over an unpaid tax bill for £134,000.
Insolvency experts Robert Barclay and Bryan Jackson were given the task of mapping out a rescue plan and their company has now been installed as administrators.
Their petition for full administration was not opposed by HM Revenue and Customs when it was put before Lord Malcolm at the Court of Session.
Susan Ower, counsel for the club, told the court Barclay and Jackson had met with directors, identified potential cost savings and contacted creditors and suppliers, giving advice over the continued trading of the business.
“They have met with potential purchasers of the business on a number of occasions,” she said. “They have obtained payment of £100,000 from potential purchasers and that is to assist with the costs of continued trading.”
Seven first-team players and three from the youth teams were made redundant immediately the club went into administration but Jackson has revealed there is unlikely to be any more members of staff leaving the club.
Earlier this week, the Scottish Football League enforced a 15-point deduction on the club which resulted in them dropping to third from bottom of the table and into the relegation play-off zone.
The SFL also imposed a transfer embargo which prohibits them signing players aged over 21 until they come out of administration.
Wasn’t finished haha Campbell too of course! As long as he remains in post there will always be rules ignored to ensure there is a team playing in blue hailing from Glasgow in the football league.
Now is the time to act
A few people offloading RFC shares this morning.
Time …….Price……..Number sold
12:26:38 69.00 413
11:23:25 69.00 951
10:36:31 69.00 14,288
08:02:31 69.80 1,500
08:00:28 71.50 1,225
So Carmyle’s modern day answer to Henry Frick is about to make his play……..Wondered how long it would take for the bullying Manager to move up a level to the coercive Chair………
Regards & Hail Hail
TBM
leftclicktic
It was used by the writers of the article. I would not be surprised if Regan had led them to believe that is what happened.
If sleekit Walter had handed the job to ANYONE (zombie pressure)other than the fat sleekit coward sally,
THEY WOULD PROBABLY NOT BE IN THE MIRE(dead and the corpse getting ripped to shreds) THEY FIND THEMSELVES TODAY.
It is comforting to me to know Walter The FSC and the stupid stupid huns got themselves into this.
Till later
Headtheball
14,288 is a fair punt. Whoever sold them took a loss of over £700.00.
john gallagher @marcella1981bs 15m Mark Thatcher, arms dealer and tax exile with a personal fortune of £64 million but wants you to pay for his mum’s funeral
Paul67 –
There are a lot of rumours circulating, but I’d like to think Charlatan can ride the current storm and keep Sevco limping on for a wee while yet.
The longer Charlatan remains at Ibrox, the less chance there is of a future for any club hoping to play there.
ASonOfDan
13:34 on
11 April, 2013
Headtheball
14,288 is a fair punt. Whoever sold them took a loss of over £700.00.
NOT IF THEY GOT THEM FOR 1p EACH :))
leftclicktic
I always say that Sally put rangers into administration. As soon as he got them eliminated from Europe the club was a dead man walking.
leftclicktic
It will be the stupid zombies who take the hit as usual.
tomtheleedstim
13:29 on
11 April, 2013
What’s happened to Murray’s statement that was due?
………………………………………………………………………………………………………….
It has just been released:
‘A big b(h)oy done it mister, honest, and ran away!’
HH!!
Can’t stop laughing @corsica1968 Protected account 6m My latest blog: http://alzipratu.wordpress.com/2013/04/11/rangers-charity-foundation/
So it’s only the holding company that’s in trouble then????
leftclicktic
13:35 on
11 April, 2013
ASonOfDan
13:34 on
11 April, 2013
Headtheball
14,288 is a fair punt. Whoever sold them took a loss of over £700.00.
NOT IF THEY GOT THEM FOR 1p EACH :))
========================================
Can’t sell the 1p ones yet mate, they are locked in.
He DID lose north of £700 ;-)
A well written piece by Angela Haggerty who is a journalist.
Yes, Sevco. Yes, a different club. Yes, it matters.
Debates will, and do, rage about the legal status and definition of a club and there’s a brand new conversation happening in Scotland over which components are required for a club to exist. However, most of it doesn’t really matter in the overall picture, because the heart of this story has nothing to do with combing through football regulations to define a club, at the heart of it is injustice.
This is about injustice, and everyone who continues to use the word Sevco instead of Rangers is standing up to it.
Respect to you all.
Rangers Football Club was founded in 1872 and went bust in 2012 owing millions of pounds to 276 creditors, including the taxman.
Please, read that again. Millions of pounds, 276 creditors. They will never be paid.
The new guy at the helm, Charles Green, took up his part in the pantomime in 2012 when he bought the assets of Rangers for a small £5.5m and formed the NewCo. The original name of the company, Sevco Scotland Limited, was later changed to The Rangers Football Club.
Yes, the new team plays at Ibrox. Yes, the new team plays in blue. Yes, the same supporters go to see them and yes, that is probably satisfactory enough for those supporters to believe it is the same club.
That’s understandable. What isn’t understandable is the turning of a blind eye to the carnage left behind by old Rangers. The mess left by the club was shameful.
Rather than acknowledge the extent of the damage caused by this sorry episode to Scottish football – and society, remember that the taxman was left out of pocket, as were a number of public services – the reaction of the NewCo has been to act with complete defiance and the fans have a renewed love of the “We Are The People” slogan.
Sevco is not a demoted Rangers. Rangers went out of business. The club went bust. Sevco is a new club and rules were created on-the-go by the SFA to accommodate it. Sevco is lucky to be in the Third Division, other small clubs which have paid their dues should have been ahead of them.
And yes, the club has thousands upon thousands of fans and had the SFA followed the rules that were already in place it would have left those fans without a club to follow this season. It is pretty unthinkable, but imagining my local High Street without Woolworths was unthinkable once as well. Me, the customer, I lost out because of a financial crisis that I played no part in. However, rules weren’t rewritten because the situation was unfair to the loyal customers. It’s the ruthless nature of business, it just doesn’t seem to apply to Rangers.
Football is a sport, bending over backwards to accommodate a club, or its many fans, makes the validity of the competition questionable.
The mainstream media is not reflecting the truth of this story and is largely happy to go with the “same old Rangers” line without significant challenge.
Thankfully, Scottish football fans aren’t so forgiving. They see the fundamental injustice of this saga and find the same-club claim insulting.
Now that the internet has provided the platform and the tools to bypass the mainstream media, don’t expect those fans to get any quieter about it.
The word Sevco matters. History is not just about the trophies won on the pitch, it’s about conducting business properly, fairly and within the rules. Rangers didn’t play the whole game and it will be another injustice if we allow ourselves to forget it.
Bawsman
Thank you for that
feelingbettertheylostmoneycsc :))
Bawsman
Ps those with the LOCKED In 1p shares will be watching the clock & calander
TICK TOCK
It seems to me that much of the next destiny of the clowns formally known as sevco may be dependant on time
Will CG be bankrupt before sevco Scotland
Will sevco Scotland be bankrupt before league re organisation (aka fast racking)
Will CG throw the towel in before he goes to court with CW
Will the polis jail anybody during any of these events
Will ally chuck it before the start of next season
The only sure thing is that Campbell Ogilvie will still be pretending it had nothing to do with him
Rangers are DEAD!! – 3rd Division is the first won by SEVCO in their history. Get used to it- UEFA state Rangers last game was played on 13 May 2012. All their decent supporters should be grateful to give up a past which is the only Scottish club to have a sectarian employment policy.
Check the word CONSIDERS :))
Crown to appeal Celtic fan’s not guilty verdict over Dundee disorder charge http://www.bbc.co.uk/news/uk-scotland-tayside-central-22097356 …
JHJ
The sectarian element is the only part of oldco history that newco inherited
that part of the baggage just could not be ditched
leftclicktic
13:49 on
11 April, 2013
Bawsman
Ps those with the LOCKED In 1p shares will be watching the clock & calander
TICK TOCK
++++++++++++++++++++++++++++++++++++++++
I think trading in their shares should have been suspended by AIM due to the police action and doubt over the legality of the whole business.
The guy taking the £700 hit very shortly will consider that to be a bargain.
IMHO of course. ;-)
regarding the huns share
even though prices are apparently falling
no none in their right mind would pay almost 10 grand for shares in a company that is is hanging like a shooglie jaicket
something is rotten … but hey whats new?
Take a look at my football club
It’s the only one I got
Not much of a football club
Never seem to get a lot
Take a jumbo across the water
Like to see America
See the clubs in California
I’m hoping it’s going to come true
But there’s not a lot I can do
Could we have kippers for breakfast
Mummy dear, mummy dear
They got to have ’em in Texas
‘Cause everyone’s a millionaire
I’m a winner, I’m a sinner
Do you want my autograph
I’m a loser, what a joker
I’m playing my jokes upon you
While there’s nothing better to do
Don’t you look at my football club
It’s the only one I got
Not much of a football club
Never seem to get a lot
Take a jumbo cross the water
Like to see America
See the clubs in California
I’m hoping it’s going to come true
But there’s not a lot I can do
Nan nan nan nan nan…