In order to give a fuller picture of what the next few days could hold there is one useful piece of information but first a recap. Back in October I predicted the Cunning Ruse to liquidate Rangers and phoenix as a Newco. Then, when Duff and Phelps first invited offers to purchase Rangers assets we predicted only Craig Whyte’s proxy would be in a position to complete a deal.
Given the situation the proxy will inherit, one final prediction – based on some solid information:
The proxy hopes to start from the Third Division.
If Newco inherits Rangers share in the SPL and competes there next season it is liable for fines and penalties due from the SFA and SPL, including what will be the most severe censure handed out in the history of British football after the Improper Registration of Contracts issue is concluded. They will be hamstrung for many years, perhaps decades. They will also need to pay domestic and international football debts.
However, if the start from the Third Division, they do so without any legacy baggage from the old Rangers FC. This would allow Newco a predictable three year penury and allow them time to engage with supporters of Rangers before returning to the SPL in 2015. Season 2015-16 would be business as usual.
This is not a decision Bill Proxy can take, however, what happens to Newco is in the hands of the SPL. Listen out for Proxy’s puppets suggesting the Third Division route.
For us, it’s popcorn time, the ice-cream is stocked and the sparkling stuff is in the fridge, but in all seriousness, past, current and now future owners have absolutely trashed that football club. To paraphrase Tarantino, they’ve got medieval on their… face.
Pop! And they’re gone!
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1st?
hAIL HAIL
pop pop
just to make sure they are gone…
Yeeha!!
Sunkist Wednesday
Paul67 = Ghodfaither.
For us, it’s popcorn time, the ice-cream is stocked and the sparkling stuff is in the fridge, but in all seriousness, past, current and now future owners have absolutely trashed that football club. To paraphrase Tarantino, they’ve got medieval on their… face.
————————————————————————————-
Here’s hoping.
God bless her majesty
So in effect nothing has actually changed. They want to square the circle – we are a newco that doesn’t inherit any of the bad stuff from oldco, but we are still the huns and claim the huns’ history.
s, revenue & customs
second last post on previous
>>>>>>>>>>>>>>>>>>>>>>>>>>
Something still stinks in this whole affair.
When Whyte bought the club was there not some stipulation that if 90 days
after going into administration the clube were still afloat then Craigy Whyte would hand his shares over to the supporters ?
I make it 90 days after Administration (it was 14th feb) is the last day of the season 13th May
I dont like coincidence.
paranoidwewillgetshaftedCSC
ipox is one big stadium to keep running on 3rd division income.
Ally would need another part time job to keep him going in pies
That’s a more optimistic post – provided we can be sure that they WILL be found guilty of improper registration and WILL be adequately punished fr it.
Are we sure of that?
‘However, if the start from the Third Division, they do so without any legacy baggage from the old Rangers FC. This would allow Newco a predictable three year penury and allow them time to engage with supporters of Rangers before returning to the SPL in 2015. Season 2015-16 would be business as usual.’
Paul67 I wish you would consult with Aunt Sally before writing your articles. FPLG has done his research and even after a Newco it is still the old rangers just with a slightly different name and no stars on the jersey…
Paul
That makes sense. Possibly too much sense for it to be accurate…
This whole fiasco really has impaired my ability to distinguish between that which makes sense and that which does not.
Paul67
I argued some of your points yesterday regarding their future, considering that all their income is in other peoples hands for years to come and that in regard to the football debt, UEFA will NEVER forgive and forget.
Didn’t stop the hysterical fits on here right enough…
Paul67
Celtic should still be demanding redistribution of their tainted trophies even though the huns of old have shuffled off the mortal coil.
The easiest way to accomplish all of this is to be a genuine newco – an actual new company, nit a pheonix/ zombie version of the huns.
Set up a new club. Call it Govan United or whatever – names can always be changed later. Liquidate Rangers FC PLC (in administration) and sell off its assets to Govan United. The creditors of RFC share what few crumbs remain.
Meanwhile Govan United, under the ownership of Bill Miller, has no legal connection to the old club. It just happens to have bought a ground and some other stuff from it. There’s no way it can be penalised for anything that has happened previously.
The oldco simply falls out of the SPL with no demand that its share be passed on. The share would in all likelihood go to Dundee.
The newco applies for the vacant SPL place. The big issue is timing. Could it get itself up and running in time to start next season?
Paul
Ma heid is spinnin!
This is ok! Isn’t it?
They accept due (and fair within the law) punishment and Ernie can renew his season ticket without having to threaten Pater Lawwell with his formal resignation as a supporter!
HH
Paul, for simpletons like me can you confirm the 2 options.
A) a Newco in SPL with punishments or
B) a Newco in div 3 with no punishments
And you believe Miller would prefer the latter?
SffS
P67
bye bye, we’ll be much better and healthier without you…POP
Last paragraph of my previous post should read:
The newco applies for the vacant SFL place. The big issue is timing. Could it get itself up and running in time to start next season?
.
They’ve Been Tangoed..
Summa
So they play their Div 3 games at Ibrox. Does Ticketus still then have their share of the next three seasons ticket money?
Paul 67, I hope your are bang on with this.
Pop go the weasels.
Hail Hail
voguepunter, aye.
jc2, that is not the case.
sparkleghirl, Newco will be subject to the inquiry and I expect will be found guilty. Punishments… wait and see.
ASonOfDan, Ally is doing a great job keeping everyone onside. Bill needs a willing accomplice in this regard.
You tell ‘em, Ally.
Pantaloon Duck, indeed.
merseycelt, chill on ernie. He wants to play things his way. The rest of us can deal with things differently.
Somebody should ask Steak Bake Sally if a newco gets to keep the history then why are all the huns feart fae liquidation?
Few days ago I imagined “Time to say goodbye” by Andrea Bocelli was best sound for the last game against them.
Gordon J at 10:18 (as amended at 10:20) –
Spot on!
Back to work…
A child of five would understand this. Send someone to fetch a child of five.
groucho csc
Morning Bhoys
Mini rally being held by the office Huns around the coffee machine. The 4 of them are very p’d off at the idea of the colonial cousin being given preferred bidder status. Of course my starting to sing “na na na na na na Craigy White, Craigy Craigy White” hasn’t really improved their humour. Ah well at least I tried.
Thanks to Aunt Sally yesterday every creditor who is owed money will be taking them to court for years. The arguement being that if it looks like rangers, plays like rangers and smells like rangers, it is rangers and they want their cash.
Top of the morning to you all from a bright, cool, Fife.
I am fascinated with the unfolding saga of Rangers In Administration and the many theories of how it will all end.
I would admit that I have no idea, but whatever unfolds it will not punish the Rangers sufficiently in my book. Of that I am sure.
Paul McConville’s theory yesterday was merely his speculative (and reasonable) musings based on the language used by D & P but they caused quite a stir as did Paul’s Miller proxy theory and if one thinks about them too much it could cause deep depression at the least and permanent brain damage at worst.
So I have decided to chill, and bask in our championship status, comforted by the fact that whatever snide moves the Scottish footballing establishment try to inflict on us I am confident that we will be ready for them.
so a Newco in the SPL is not really a Newco. but a Newco in the 3rd Division is a Newco ?
Paul67
Perhaps I am just jaded and impatient, not to say increasingly sickened by the whole thing.
But for me there has to be satisfaction that consequences are felt by that organisation commensurate with the wrongs.
And for all the ice cream and cork popping jollity I just don’t see it.
Will creditors be repaid?
Will the Tax man get anything back?
Will titles and trophies be taken away?
Will UEFA punish them for ineligible players distorting high income CL matches over years/
Will all valuable playing assets be lost?
Will the timeline be broken and be SEEN to be broken?
Will they be financially hamstrung for a considerable number of years?
Will they own all existing assets on their own terms?
If the player illegal payment case is proven at the scale we suspect (every competition x every match x 10+ years) then surely EXPULSION and permanent death is the ONLY suitable penalty? Someone can then start a Rangers smelling institution in the juniors if they wish.
Unless there is sufficient consequence they’ve gotten away with it like they always do.
HH
TLK
HH
I JCGE .. Love it and I really hope they sort it, cos for months I can’t work properly and my fingers ache from texting , and my eyes are screen sore!
It’s a glorious time to follow Celtic..
Happy Days
Better work.. Think I’ll claim D&P for loss of productivity
Has Bill had the “fit and proper test “..yet?
Is his wealth off the radar?
Is he a Tennessee Born Billionaire?….TBB
[Ooops..think we have TBB on here already]…apologies
Gordon_J
In a genuine liquidation situation such as you outline, when the assets have to be realised for the benefit of creditors, the liquidator will have to consider all bids for assets and it may be that Govan United can’t offer as much for Ibrox as say tesco. In this case, the liquidators will have to accept the highest bid.
This is why they are keen to get things sorted out before this happens.
Mort
Do we have a new hero?..so may questions HH