But of course he was mortal

471
Stein Herrera half time
Caption this, Stein and Herrera at half time in Lisbon.

“John, you’re immortal”, but of course he was mortal. Bill Shankly’s words from 1967 recorded the moment Jock Stein went from being merely a successful football manager into the greatest icon the Scottish game will ever have, but 30 years ago today, Jock’s mortality came as a shock to the world. A massive heart-attack, while managing Scotland at a World Cup qualifier at Ninian Park, Cardiff, ended the story of Jock Stein, aged 62.

He was 29 before he arrived at Celtic Park as a player after a career with Albion Rovers and Llanelli Town. By all accounts he was a decent central defender and a more than decent leader on the park. He quickly became vice-captain, then captain, and in 1954 led Celtic to their first double in 40 years, and their first league title in 16 years. Injury forced him out of the game as a 33-year-old. Celtic gave him a job coaching the reserve team, where he would work with some future Lisbon Lions.

In 1961, a year after becoming Dunfermline manager, he led them to their first Scottish Cup, beating Celtic in the final. In four years he transformed Dunfermline from the bottom of the table team he inherited, into a team who recorded astonishing victories in European football.

A meritocratic year at Hibernian then followed, at least part of which he spent discussing his future with Celtic chairman, Bob Kelly, before Kelly made one of the most inspired decisions in sport and offered Jock the Celtic manager’s job.

The rest, is literally history. In 13 years he took 10 league titles, winning all of his first nine. In his first five seasons he only lost three of 15 domestic trophies, but most important of all, in May 1967, his Celtic team became the first British club to reach, and then win, a European Cup final.

That European Cup win was enough in itself, but the manner of the win would mean Stein’s legend grew far wider than it otherwise would. Opponents Inter Milan were the most dominant team in the game. They were going for their third European Cup in four years and their fourth Italian title in five.

Celtic blew them away. It was the most comprehensive single goal victory in sport. The Italians were exhausted at the end, having defended 43 attempts at goal, seldom managing to cross the halfway line. The underdogs had triumphed, Celtic were instantly respected and adored across Europe, while Stein was viewed as having almost mystical powers.

So what did he really achieve? The Celtic you know today would be unrecognisable without him. Had he stayed at Hibs, they could be a bigger club than Celtic today. Our decades in the wilderness, which started in the 1920s, would have continued into the 70s and who knows thereafter. His gift to you, is Celtic. That’s why his statue is outside the ground.

It wasn’t all sweetness and light. Stein was a hard authoritarian, consistent with the style of the time. Football also caught up with him. Those first five years at Celtic, five league titles, five League Cups, two Scottish Cups, two European Cup finals, European semi-finalists a remarkable three times, were imperious, but some lights went out after losing to Feyenoord in the 1970 European Cup final.

After a fifth place finish in 1978 Celtic decided to sack Jock, offering him a position on the board, which he initially accepted but only later realised his responsibilities would be limited to Celtic Pools.

Football is a results business and looking back, the decision to sack The Big Man in 1978, should not be regarded as controversial. I certainly remember many Celtic fans of the era questioning his decisions, but the way the termination was handled was shoddy. Stein had lost his mentor, then Sir Robert Kelly, seven years earlier, while the pick of his second team, Hay, Macari and Dalglish, were sold for huge fees which were never invested in the squad. Or the stadium, training facilities or anything else an aspiring football club would invest in.

He grabbed the first offer out of Kerrydale St, but only 44 days later couldn’t wait to leave Leeds United to take up the Scotland job, where he returned to his earlier form. That night in Cardiff, Scotland stood on the verge of qualification for their fourth successive World Cup, two of which were under Stein.

The nation watched him being carried into the Ninian Park tunnel live on television. Even then, no one expected him to die.  We thought Jock was immortal.

 

Foundation call: Walfrid and Directors’ Box hospitality, thanks to Intelligent Car Leasing, ebay auction here. More on this tomorrow.

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  1. Marrakesh Express on

    You just know the Forces day idea over there is a highjack job, designed to get them some succour. Wonder if the Nazi salute mob will be giving it damebusters and rule Britannia in support of their hero freedom fighters. Desperate stuff, but will the half cooked squaddies be orchestrated into another bigotfest like two years ago?

     

     

    And thanks to Dave King for doing what, Findlay, Gough, Walt, Hateley, Rae et al did before him, by owning up to the dead club status. He probably hadn’t thought it through though as he was too busy lying about the near future.

  2. thomthethim for Oscar OK on

    So, Oldco’s debts are “only” £50m.

     

     

    So, they actually are Judge Dredd.

     

     

    Looks like GSL has decided to come clean over their status.

     

     

    His next trick is to resurrect the corpse.

     

     

    I can’t help feel that someone has spelled out the situation to him and it ain’t pretty.

  3. Defo last post.

     

     

    God is outwith his Creation.

     

     

    God stepped into his Creation and became a Man, to Save Mankind.

     

     

    A Perfect Man….. And so many educated fall for the lie of the Serpent.

     

     

    It isnae Rocket Salad.

     

     

    Great Cqners.csc

  4. Roberttressell – that’s my view. This is one last rallying call to the troops to stave off admin until the court case gets started and he can blame CW and CG for the demise.

  5. Just when it was all quiet on sevco land up pops the lying king to make my day. Resurrect deidco traditional rangers my arse. Zombies are dead and buried whatever happens next is a new cesspit. Can’t understand what he gains by publically nailing the coffin shut though, unless their is a big pile of poo coming his way. Either way it is more fun for us.

  6. Predictably, partisan coverage in the lead up to the big game in Scotland tomorrow which wouldn’t have gone unnoticed by the late great Jock Stein, who was a master of the press, and all it’s imperfection in Scotland. They were terrified from him, and he regularly put them down, by squaring up to the agenda.

     

     

    In his day when the focus wasn’t on how Rangers were obviously going to beat Celtic, and the task had fallen on Aberdeen the Glasgow press were ultra quick to think up new ways somehow Celtic would fail. He was ready and waiting for them and one time famously opened with “According to you lot – Celtic would be as well not turning up “

     

     

    Jock Stein called it as it was in Scotland, we live in a different age with a foreign manager but the agenda remains the same, Aberdeen mustn’t fail, Ronny Deila is a nobody, and Celtic are vulnerable having sold their best player.

     

     

    Armageddon, didn’t happen Aberdeen quickly filled in for Deidco, but they can’t come close to Celtic, just like Malmo would be also rans, in Celtic’s league.

  7. The GASL has really went to town this time, lying on the Hibs deal, and then saying themselves are dead, I think he’s lost it, working his ticket?

     

    Interesting times ahead, and thems won’t be happy with him, that army visit at Narnia may well be needed.

  8. There’s seems to be a wee bit of difference of opinion about the status of Rangers FC, I’ll give two analogies and hopefully those qualified can confirm which is the closest.

     

     

    BDO are carrying out a post mortem

     

     

    BDO are maintaining a vegititive comatosed patient trying to discover all the ailments that led to the current condition.

     

     

    Point being if it is the second then there is an outside chance that the patient could be resuscitated fron it’s coma.

     

     

    Best laugh is the £50M debt claim, surprised it took so long for that detail to be highlighted.

  9. thomthethim

     

     

    The last time he spoke the Rainjurs were debt free and the envy of the world – What happened in between ? apart from admitting with another pointless lie, in effect they couldn’t find the correct amount of £ for Scott Allan.

  10. What is the Stars on

    Canamalar

     

    A company in administration is the equivalent to a human in a coma.

     

    A company in liquidation is the equivalent of a deceased human.

     

    Rip

  11. Brogan Rogan Trevino and Hogan supports Oscar Knox, MacKenzie Furniss and anyone else who fights Neuroblastoma on

    OK I don’t normally make this kind of post but I was told the other day that some over Ibrox way were in buoyant mood for some reason and were reluctant to say why.

     

     

    Apparently the recent arrests and so on were really good news etc etc.

     

     

    So, here is a we post from the Sons of Struth Facebook page. I will leave you all to draw your own conclusions.

     

     

    ———————————————————————————————————————————————————–

     

     

    The SPL £1m question.

     

    Cast your mind back to the recent league reconstruction deal that amalgamated the SPL and SFL in to a single body SPFL.

     

    The new league set up offered the lower league teams a bigger slice of the cash from Scottish football. A larger share of TV, sponsorship and prize money plus play offs.

     

    Every detail benefitted the SFL clubs from the lower divisions. I couldn’t figure out why.

     

    Normal business negotiations see both parties gain something yet this deal, on the face of it, seems to only benefit the smaller parties.

     

    It’s worth remembering the SPL was set up by the top 12 clubs who felt they should control the purse from football and keep the richest richer yet they welcomed the smaller clubs back into a single organisation league set up.

     

    Fast forward a season and Rangers previous owners, administrators and lawyers are appearing in court facing serious organised crime and conspiracy to defraud charges.

     

    Many will realise that victims of crime have recourse against loses they incurred as a victim of crime. If the cases go the way I predict they will then Rangers will be proven to be a victim of serious conspired crime and will have a few avenues open to them. Dave King suggested as much to the press today.

     

    The SPL kicked Rangers out the league and in doing so deprived Rangers of increased gate money, prize money, TV money, sponsor rewards and potential European revenues. Is £40m from 4 years in the wilderness a conservative estimate?

     

    Under the old SPL, each of the 12 clubs were equally liable for any liabilities to the league and could have seen each club persued for £3-4m if the £40m guesstimate is correct.

     

    The newly formed SPFL will be liable for any liabilities of both SPL and SFL but now each of the 42 member clubs would be liable.

     

    Obviously if such a claim could be successful then Rangers wouldn’t be liable so the 41 other clubs could face a bill of £1m each but the 12 previous SPL clubs would be far better off under the new league set up.

     

    Have we now found out the benefit to the SPL clubs in a deal that seemed to have no positives for them?

     

    I’m sure if the above example was to come to fruition then the SPL clubs would then almost blackmail Rangers by claiming we would then wipe out the majority of Scottish clubs.

     

    Obviously Im just being a conspiracy theorist here and the possibility of owing Rangers millions never crossed the minds of the SPL chairman and they done the deal just to help the small clubs. Didn’t they?

     

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    Danny McWilliams Thing is, the SPFL is the same company as the SPL, rebranded (with SFL clubs added) if I remember correctly. So it’s certainly not newly formed, and they’d be directly liable, in theory, if legal action was taken. (Edit – checked companies house, they are the same company).

     

    Like · Reply · 2 · 8 hrs · Edited

     

     

    John Howieson Is 100p to the pound not just a pound?

     

    Like · Reply · 8 · 8 hrs

     

     

    Alec Peacock I think the old SPL will be as watertight as fat Mike. He’s a billionaire yet managed to put USC into admin and pay pence in the pound towards it’s written off multi million debts. That shower will be protected in the same way.

     

    Like · Reply · 1 · 8 hrs

     

    1 Reply

     

     

    Simon Lynn They laughed, they joked they sat for days finalising that photoshop pic so all their forum fwends could pat them on the back when they thought we were going to die. I say destroy all who can’t take the hit with no mercy. Then let us ignore them like the insignificant teams they are, for we care for one club and one club only.

     

    Like · Reply · 8 hrs

     

     

    Gordon Leithead I wonder where David Murray will stand in all this

     

    Like · Reply · 8 hrs

     

     

    Ian Sproull I wonder if SPFL has liability insurance?

     

    Like · Reply · 1 · 8 hrs

     

     

    Scott Crown Now that would set the cat among the pigeons,your conspiracy theories are brilliant,I’ll have to stop using the line now yous can’t be going for 10 in a row because spl died

     

    Like · Reply · 1 · 8 hrs

     

     

    Stephen Wiseman Some may not agree here Craig but you deserve a seat somewhere on the board on Edmiston Drive! Just my opinion, well put mate!

     

    Like · Reply · 3 · 8 hrs

     

     

    Grant Donaldson TL;DR so Rangers could get money from the league they shouldve got or have I completely missed the point?

     

    Like · Reply · 8 hrs

     

     

    Jim Williamson Sounds very plausible to me Craig, and I’m pretty sure I could take a stab at naming the architect of such a cunning plan. Wonder if that trip to Japan is back on ?

     

    Like · Reply · 5 · 8 hrs

     

     

    Graeme Downie read this tomoz….topo drunk atm

     

    Like · Reply · 8 hrs

     

     

    Ray ‘Arnie’ Arnott You are just being a conspiracy theorist. Almost tim like. #behaveyourself

     

    Like · Reply · 8 hrs

     

     

    Sons of Struth Been told that for over two years now.

     

    Like · Reply · 1 · 8 hrs

     

    View more replies

     

     

    Jim Gavin Surely the crimes were committed as you say by rangers previous owners, administrators and lawyers?? This is were the blame starts and finishes.. The consequences were a result of poor management which many of your supporters were all in favour of at t…See More

     

    Like · Reply · 2 · 8 hrs

     

    View previous replies

     

     

    Sons of Struth Jim. “Poor mismanagement” are you totally unaware of the charges?

     

    Like · Reply · 1 · 8 hrs

     

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    David Stewart Too tired to read this ladz lol off to sleep fir work… WATP

     

    Like · Reply · 8 hrs

     

     

    Andy Sheppard The SPFL is a member owned organisation. As we are members we would in effect be suing ourselves which you can’t do. You also can’t take legal action against an entity but stipulate which shareholders are liable. For me, that’s the reason for the merger. Kills legal action stone dead. The SFA on the other hand…..

     

    Like · Reply · 8 hrs

     

     

    Wullie Mcneill fuck all who fucked us said it at the start and stand by it let them rot

     

    Like · Reply · 1 · 8 hrs

     

     

    Ian Fraser Honestly cannot see this being the case. We are talking about the same clueless Chairmen here who out of pure spite claimed to listen to their own fans and lose important revenue and hundreds of thousands of fans from their league over the last 3 year…See More

     

    Like · Reply · 8 hrs · Edited

     

     

    Wullie Mcneill round ye McNulty lol

     

    Like · Reply · 2 · 7 hrs

     

    1 Reply

     

     

    Robert Johnston The words that keep getting louder and louder in my head are …. SPORTING FUCKING INTEGRITY !!!!

     

     

    Someone has to tell me I’m being cynical and that I’m being ridiculous even recalling the words in the first place !!!!

     

    Like · Reply · 2 · 7 hrs

     

     

    Wullie Mcneill columbian flu in the morn way that rant lol

     

    Like · Reply · 1 · 7 hrs

     

     

    Wullie Mcneill Shaun its all about the Rangers your here dont ssay no

     

    Like · Reply · 7 hrs

     

     

    Andrew Duncan What are you talking about ?

     

    Like · Reply · 7 hrs

     

     

    Norrie Boag How good could this work out for us?

     

    We could, hypothetically speaking, fold Scottish Professional Football.

     

    Having no professional football league in Scotland would mean we could legally apply to join a more lucrative league elsewhere….See More

     

    Like · Reply · 7 hrs

     

     

    Sons of Struth I don’t think Rangers would or should hold the Brechin and Forfars accountable

     

    Like · Reply · 7 hrs

     

     

    Brian Hendry Let’s not be vindictive here lads, they all acted in the best interest of Scottish football so please show some compassion, let’s punish the clubs who gained out of our exile, the titles they gained are surely TAINTED and won under false pretence also …See More

     

    Like · Reply · 2 · 7 hrs

     

     

    Norrie Boag Why not though?

     

    The SPL kicked us out but the SFL clubs voted to relegate us to the bottom tier.

     

    All of them acted in haste Craig and my fear is that if we do make exeptions where do they stop?

     

    Like · Reply · 1 · 7 hrs

     

     

    Dean Davis slander by them all . hmrc , sfa , spl lost players , lost cup league revenues , euro revenue s , sponsor ship lost revenues . sold our club for 5.5 million yet worth 130 8 months earlier. i say sue the lot . in the name of thier sporting integrity . f…See More

     

    Like · Reply · 3 · 6 hrs · Edited

     

     

    Stuart McAulay At the time I had a similar thought with regards to the Lisini Pub Management damages claim against the SPL for £1.7M. That would have been split 12 ways. Now (if the claim is still active) it will be split 42 ways.

     

    Like · Reply · 2 · 5 hrs

     

     

    Lorna Soliman Hope Rangers go for the kill & who cares what clubs don’t survive ! After all that’s what they hoped would happen to us so as they say Karma is a bitch – bring it on

     

    Like · Reply · 2 · 3 hrs

     

     

    David Falconer If Fraud has taken place and King gets his way in terms of unravelling the liquidation and gets Oldco reinstated then the compensation will run into many 10s of millions, maybe even north of 100 million give or take a few Mill.

     

    Oldco can sue until thei…See More

     

    Like · Reply · 2 · 3 hrs · Edited

     

     

    Alan Milligan Strip them of any titles and cups won during this period

     

    Like · Reply · 3 · 2 hrs

     

     

    Gary Johnstone Git a shag big man

     

    Like · Reply · 2 hrs

     

     

    James Stevenson This is way to deep for me.

     

    Like · Reply · 1 · 2 hrs

     

     

    Ross Matheson Why would it ruin Scottish football? They’ll have an insurance policy against this sort of thing surely?

     

    They’re not THAT incompetent, right?

     

    Like · Reply · 1 · 1 hr

     

     

    Alex Sinclair My hatred for all those mentioned holds no bounds but it’s just wishfull thinking

     

    Like · Reply · 1 · 1 hr · Edited

     

     

    James Thomson Surley any bill would sit with the decision makers and not its member clubs as they decided to give the decision to there members

     

    Like · Reply · 1 hr

     

     

    Craig Campbell They knew fine well what they were doing

     

    Like · Reply · 1 hr

     

     

    Thomas Mcnee We have more class and dignity than that though, I totally agree with what you are saying but it was the 10 member clubs of the spl who voted us out, excluding Kilmarnock of course, the smaller clubs haven’t done anything wrong, however we have been vi…See More

     

    Like · Reply · 1 hr

     

    2 Replies · 1 hr

     

     

    Scott O’Donnell Hope king takes takes every last one of them for as much as possible

     

    But maybe he should put it to vote of rangers supporters let us decide

     

    Watch them all squirm as they did to us FUCKERS

     

    Like · Reply · 3 · 1 hr · Edited

     

    1 Reply

     

     

    Stuart Pitches The SPL name change was deliberate, they knew the potential of charges against them. We as club and fans need to go after SFA and SPFL at all costs whether that brings hardship to other clubs then tough.

     

    Like · Reply · 1 hr

     

     

    Robert McAllister Time for Rangers to be ruthless

     

    Like · Reply · 2 · 1 hr

     

     

    Gary Bjorck Hahaha I love your optimism mate. Will never happen tho I don’t think

     

    Like · Reply · 1 hr

     

     

    Ray ‘Arnie’ Arnott Gary Gibson, I’ve supported SoS at every turn but ffs this is a nonsense. It was done in order to bring Rangers into the fold rather than spread any litigation costs which quite frankly are questionable and highly unlikely. Like I said, Lets leave all that conspiracy shite to the green and grey.

     

    Like · Reply · 54 mins

     

     

    Paul Mcfarlane Thomas Stark

     

    Like · Reply · 50 mins

     

     

    David Doig There’s not a chance on earth that the league would have to pay us. You are correct in that a victim would be entitled to compensation if the result goes against the accused at court. But the league aren’t the suspects and they would not be the ones who would have to pay any compensation. That’s not how it works.

     

    Like · Reply · 34 mins

     

     

    Scott Barnes I said this last week the sfa/spfl will be shiting them selves as if it is proven rangers have been done by fraudulent activities they will be able to sue them for millions

     

    Like · Reply · 33 mins

     

     

    Derek Price Richard Grigor William Adam Scott Gilmour David Smith

     

    Like · Reply · 30 mins

     

     

    Alex Mclean That mob of conspiracy robbing bastards who run Scottish football will do everything possible to avoid giving RFC a tanner they are only takers the blue pound I just hope we get the credit we deserve from all the haters because we’re still the biggest club in Scotland and WATP

     

    Like · Reply · 28 mins

     

     

    Stewart Balmer Except for Kilmarnock every team in Scottish football voted against rangers at one stage or another chairman of raith rovers was th big voice against us so while your peice will probably be right Il have no sympathy if this scenario becomes real be good to see the fighting amongst them all blaming you know who for tell them to vote Rangers out

     

    Like · Reply · 18 mins

     

     

    Joseph Crombie Alternatively we could pursue those individual clubs and owners who formed the SPL at the time for damages

     

    Like · Reply · 15 mins

     

    Jim McGinley

  12. Wits,

     

    So why is the term ‘in liquidation’ or had that status been changed to ‘liquidated’ yet ?

  13. Winning Captains @ 11:01 PM,

     

     

    That’s an interesting piece by the asteamed Keith Jackson – t’uther day I found my-self making a CQN, school bhoy error. Started writing a comment around lunchtime – sure enuff, checked before I posted and yes – New article posted – it was irrelevant to the new lead, so I just posted it on the end of the blog… But think under the circumstances I will repost…

     

     

    9TH SEPTEMBER 2015 12:56 PM

     

     

    Haven’t had a chance to read the hostile monkey piece – tis bookmarked.

     

     

    But in a reply to a post from Jamesgang at the weekend, I wrote a comment that contained the “fact” that when Sevco Scotland played their first ever game which was against Brechin – The Rangers Football Club still had a SFA licence and we’re still members of the SPL.

     

     

    Now I said it was late August, of course a quick perusal of the hostile monkey piece reminds me it was in actual fact late July 2012.

     

     

    But it got me thinking, a good clear way of rebuffing the same Club myth is to take a time line of the two Clumpanies in 2012.

     

     

    From the birth of Newco to the IPO.

     

     

    From administration from Oldco to the death knell of Rangers.

     

     

    Newco saga – It could start with the incorporation of Sevco 5088, through Sevco Scotland to the transfer of assets, tupe of employees – to the first game, to the five way agreement and end the year with the IPO.

     

     

     

    Oldco Saga – HMRC taking umbrage at getting shafted, administration, points deduction, failed CVA, selling of assets, transfer of SPL membership to Dundee, transfer of SFA licence to Sevco Scotland, final D&P administration duties and towards the end of 2012, Liquidation.

     

     

     

    Of course more detail and salient points could be put onto the parallel time lines, but it would be a graphic illustration of two organisations.

     

     

    I would do it myself but I’ve already demonstrated how unreliable my memory is and currently don’t have time to research/clarify.

     

     

    —————————————-

     

     

    Well as Mr King demonstrates perfectly well – and it’s been mentioned here many a time, they know, they’ve always known – but the thing is, if they wait till BDO has negotiated and satisfied all the creditors, then try to buy back RFC 2012 Ltd. It will be a charade on the scale of the five way agreement.

     

     

    Anyways as Ashley has the IP et al, maybe get that back first…

     

     

    Hail Hail

  14. BRTH,

     

    Your having a laugh Shirley

     

     

    Their whole scheme is dependent on the lie that they were kicked out of the SPL.

     

     

    Rangers FC went into liquidation and their membership was passed on to another entity.

  15. Graeme Spiers just tweeted that what the GASL said yesterday, he had previously been told “was a hanging offence”.

     

     

    Interesting to find out who told Spiers this, and how it affected his reporting of this story.

     

     

    I suspect panic in Level5 right now. They have a few hours to get a new line prepared before the radio shows tonight.

  16. Glibby. . . . “So the club was fiscally responsible by default”

     

     

    In an episode of The Simpsons, Homer is told that, as everyone else at the plant has already won it, he has been awarded Employee of the Month by default.

     

     

    He whoops, saying, “De- fault, de-fault, the two greatest words in the English language!”

     

     

    Oh, how I laughed.

     

     

    But not as much as now!

  17. Chairbhoy,

     

    There’s the little matter of a court case to decide if any of the Rangers FC asses Charlie Green sold were legitimately his to sell, if no then MA does not own the IP or any of the other assets, no ?

  18. You really do wonder what’s round the corner for Sevco.

     

     

    Why reopen the liquidation wounds now? What good can it serve to throw into doubt the carefully crafted fiction of the same club myth?

     

     

    I confess I cannot see the angles here. King is many things but I’d never considered him a moron. Therefore this salvo has to be seen as the start of a strategy preparing the ground for… what, exactly?

  19. GlassTwoThirdsFull on

    “You can never rewind what has happened but in 100 years’ time you might look back and say there was a blip of four or five years in Rangers’ history

     

    ————–

     

    Is he trying to get out of Dodge?

     

    He must know that kind of language will infuriate the fans.

     

    More to it than meets the eye…..

  20. The result of HMRC’s appeal was, I understood, to be published late August, what’s happened to it and has the result been leaked to some to allow a strategy to be formed ?

  21. GlassTwoThirdsFull on

    Or maybe he found a copy of Bill Miller’s incubator plan lying around and tried to see if it might fly!

  22. OK YOU LOT – who impersonated Dave King last night and came up with this one? Come on, own up!

     

     

    Dave King sets out vision to pay off Rangers’ oldco creditors

     

    Mr King set out his vision to take RFC 2012 plc out of liquidation and putting current club assets such as Ibrox and Murray Park into it insisting that it was “practically feasible and legally feasible”.

     

     

    But he admitted that would involve creditors accepting “a compromise and waive some of the debt” with an offer of 50p or 60p in the pound. Mr King stated if the taxman and other claims were taken out of the picture, an offer to pay off all the creditors completely was even a possibility.

     

     

    He said putting the assets back into oldco was “a good thing to do” adding: “It’s an emotional thing as well with the supporters.

     

     

    “They hear all this, ‘you’re not Rangers any more’ and ‘you are a new club’. It would be nice to put all that behind us and say we had this unwanted period and now we are back to where we were.

     

     

    “It’s more emotionally important than practically important.

     

     

    “You can never rewind what has happened, but you can try and look back in 100 years’ time and say there was a blip of four or five years in Rangers’ history when this all happened and it was resolved to the norm again.”

     

     

     

     

    I will be interested to see the prospectus that The Rangers issue to any investor to raise funding if it contains a reference to resurrecting Oldco Rangers at a price of up to £78m (per The Herald). I can imagine the scenes as frenzy grips the City of London as investors engage in wrestling each other out of the way to be first in line to subscribe for shares so that Rangers fans can “get their history back.”

     

     

    The Herald also reports:

     

    And an informed liquidation expert told the Herald that Mr King’s plan if successful would only result in the oldco either being dissolved or placed back into the hands of the previous owner, Craig Whyte.

     

     

    So, in summary, raise £78m to give the club back to Craig Whyte. Roll up, roil up, roll up!

  23. GlassTwoThirdsFull on

    Chairbhoy 9:03

     

    if they wait till BDO has negotiated and satisfied all the creditors, then try to buy back RFC 2012 Ltd. It will be a charade on the scale of the five way agreement.

     

    ————–

     

    Would the SFA have to transfer back the licence to the old “company”?

     

    Does the five-way agreement get rolled back? Or ripped up?

     

    Does Gordon Smith get his job back?

     

    And if HMRC win the BTC, does glibby have to sell all his wine?

     

    So many questions. So few journalists…..

  24. Maybe dodgy Dave intends to buy the assets from BDO using his claim as a creditor as payment.

     

     

    cv

  25. CANAMALAR @ 9:18 AM,

     

     

    “There’s the little matter of a court case to decide if any of the Rangers FC asses Charlie Green sold were legitimately his to sell, if no then MA does not own the IP or any of the other assets, no ?”

     

     

    Well, as usual you make a very good point – and I would assume something to do with Mr King’s recent longings…

     

     

    I’ve no idea what legal mechanism Dave King was talking aboot in respect of this resurrection of Rangers.

     

     

    And let’s face it this might be the best since Bill Miller’s incubator…

     

     

    But for me what this says is – following last weeks arrests, any fleeting chance that The The Real Rangers men had of bringing back the original real Rangers (il) has long gone.

     

     

    So when the dust settles, and reality bites, and the people ask – why didn’t you rescue the original Rangers – Dave King can glibly say, well I tried.

     

     

    Hail Hail