Quantcast

Celtic in control as Jelavic looks to England and 25 pt penalty

154

The litany of recent disasters to lower league opposition in the Scottish Cup, that is always read out when Celtic face a smaller club, on this occasion only served to underline what a solid performance the team gave against Peterhead.  After a brief alarm 42 seconds into the game Celtic were in complete control and apart from Joe ‘Could’ve been a Contender’ Ledley, looked like they enjoyed their trip to the North East.

Neither Paddy McCourt, Emilio Izaguirre nor Kelvin Wilson were particularly exuberant during the exercise, but they will have benefited from the 90 minutes, just as James Forrest and Gary Hooper will benefit from the rest.

For Celtic, focus is now on Dundee United on Saturday.  Meanwhile, Rangers’ Nikica Jelavic has been giving a similar message to the Croatian media, while speaking about his dream of a move to England and how Rangers may prefer a 25 point penalty and a suspension from Europe to paying a hefty tax bill:

“A transfer to England attracts me very much. I have dreamed about this for years. My aim is to move to a bigger club who play regularly in Europe, I want to shape up.

“The truth is that Rangers struggle with very deep financial problems. They owe 50 million euro in taxes, although there are a few different scenarios as to how this could be resolved.

“If they could get some money from my transfer they could pay-off part of the debts they accumulated through the years. There is also talk of bankruptcy.

“If I move it will be decision of the owners of the club.

“One potential outcome might be a 25 point penalty and one year suspension from Europe, which could be a better outcome than paying 50 million euro in tax.

“The team is focused on training and playing.  We would like to stay together and fight for the title.”

I have to agree, a 25 point penalty, with single season consequences, sounds like a very attractive outcome for Rangers, who are away to St Johnstone at lunchtime on Saturday.

You can order a hard copy of CQN Magazine, issue 5, with credit/debit card or Paypal and buy direct from the UK for only £3.50 + £1.50 postage and packing.  Shipping costs £2 to ROI, £3 to Europe and £4 to elsewhere.  Click on the link below to order.

Click here to view the new issue of CQN Magazine online for free. You can support the online edition by making a discretionary donation here.

Click Here for Comments >
Share.

About Author

154 Comments
  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5

  1. STV………….

     

     

    Rangers suspended from stock exchange for failing to file accounts

     

    Trading in shares in the Ibrox club on the stock exchange was halted at noon on Monday.

     

     

    By Mike Farrell

     

    09 January 2012 12:47 GMT

     

    Comment

     

     

    Suspended: Shares at the club were suspended on Monday. Pic: © STV

     

     

    Shares in Rangers have been suspended from the stock exchange over the failure to file the club’s audited accounts on time.

     

     

    The Ibrox club was suspended from trading at noon on Monday by Plus stock exchange, where Rangers trade.

     

     

    Plus confirmed to STV the suspension was because of Rangers failing to file their audited accounts by Monday’s deadline.

     

     

    A statement from the Rangers FC PLC board, released through the stock exchange, said: “As a result of the delay in publishing its audited accounts to June 30, 2011, the board announce that the company’s shares have been suspended from trading on Plus pursuant to Rule 51.

     

     

    “The delay has been caused as a result of finalising the audit, which the board believe will be complete on or around January 31, 2012. The delay in finalising the audit is principally related to the ongoing HMRC tax tribunal.

     

     

    “The board of the Rangers Football Club plc is currently considering the merit of maintaining its listing on the Plus market after May 6, 2012, being the date 12 months following the acquisition of the 85.3 per cent holding of the company by The Rangers FC Group Limited.

     

     

    “The directors of the Rangers Football Club PLC accept responsibility for this announcement.”

     

     

    James Godwin, director of regulation for Plus, said: “I can confirm that The Rangers Football Club plc has been suspended from trading on the Plus stock exchange for breaches of the Plus Rules for Issuers.

     

     

    “As a company incorporated in the UK, Rangers FC is required to file audited statutory accounts within six months of its year end, June 30, 2011.

     

     

    “Rangers FC has failed to do so and is in breach of Rule 51 of the Plus rules for issuers.

     

     

    “The Plus Stock Exchange is also currently conducting an investigation into the circumstances under which Craig Whyte’s seven year disqualification from acting as a director in 2000 were not disclosed at the time of his appointment to the board of Rangers FC on May 6, 2011.”

  2. ASonOfDan – In fact if one of us were to buy Rangers, we would do something along the lines of what he is doing. Lots of small public mortifications prior to tearing the whole place down.

     

     

    AgentWhyte CSC

  3. could someone on here tel me what is the connection between rangers ant scottish television

  4. RogueLeader says:

     

    9 January, 2012 at 13:10

     

     

    Transfers!!

     

    who in their right mind would do business with such a company?

     

     

    The suppliers of their king billy burgers and andy goram best mutton and ale pies must be seriously considering their position.

  5. Shortbread news implying thems are considering leaving this ‘small’ London-based stock exchange.

  6. For the laymen, in a nutshell, Rangers have been suspended as their auditors want to say in the accounts that they are about to go bust. Obviously Rangers don’t want this, hence the delay, suspension of shares and likely further sanctions.

  7. bournesouprecipe says:

     

    9 January, 2012 at 13:06

     

    Rogueleader

     

     

    How will STV spin it?

     

     

    —————

     

     

    STV understands that Craig fae Motherwell has suspended all trading within the Stock Exchange, as they are just not a big enough platform for Rangers to operate in.

     

     

    Instead Rangers will now move all funds to the Airdrie Savings Bank, and all future corrospondence will be via this address

     

     

    PO BOX 1690

     

    Scabby heid drive

     

    Larkhall

  8. bournesouprecipe says:

     

    9 January, 2012 at 12:55

     

     

    ‘finalising the audit…on or around 31 January 2012… related to the ongoing HMRC tax tribunal.’

     

     

    More misdirection as the accounts have had no mention of figures re the tax tribunal and indeed little mention (if any) of it at all. One could be churlish and argue that no mention is required given that the bill has not, as yet, crystalised and therefore is not yet an issue – such a mention could be seen by the tribunal as an acceptance of guilt/culpability on the part of the orcs, no? Or perhaps the auditors have indeed been quite thorough, telling the orcs: you absolutely have to include the TT figures as you’re scuppered and as far as we can see are only procrastination with the TT.

     

     

    It should also be pointed out that the orcs have been aware of the TT and it’s possible consequences during previous accounts releases (but did not cause this problem).

     

     

    I would think there are other, more pressing, reasons as to why the accounts have yet to be audited, I mean, come on, they’re for the period up to 30th June 2010, ffs.

     

     

    The words ‘going concern’ spring to mind.

     

     

    How many of the forthcoming season’s STs were mortgaged off again?

  9. Let’s say you were the owner of a company, that was publicly traded and owned the overwhelming majority of the shares.

     

     

    Let’s say that you wanted to get some cash by selling those shares but there wasn’t a huge demand for them and that kept the price low. Let’s also say that one of the ways to increase the demand and therefore the price was too annoy your loyal customers to the extent that they thought they could run the company better than you but would need to build a significant shareholding for that to happen.

     

     

    How incompetent would you need to look before that really started to kick in?

  10. RogueLeader

     

     

    My family are convinced he is a Tim.

     

     

    The rangers demise is humiliating, it is painful, it is every Tim’s dream…

  11. BSR – Whyte will reject the stock market statement.

     

     

    In fact I just read their statement whilst writing this. Parody is real life for that is in fact what he has done.

     

     

    Absolutely incredible.

  12. Joe Filippis Haircut on

    Any player in my opinion who is willing to sign fot the poundland team in the January window will be either youngsters who are unproven or vetrans who cannot find another club.Slowly but surely the orcs are struggling to stay afloat come on Celtic sign a couple of quality players and hasten there end.H.H.

  13. timbhoy2 says:

     

    9 January, 2012 at 13:11

     

     

    Apparently they’ve agreed some kind of ‘joint initiative’.

     

     

    …getting stoned, perhaps?

  14. timbhoy2 says:

     

    9 January, 2012 at 13:11

     

     

     

     

     

     

    ‘STV agrees surprise deal with Rangers

     

     

     

    Scotland’s main ITV channel, STV, has agreed to go into partnership with one of Glasgow’s football teams, Rangers.

     

     

    The club announced the deal on its website yesterday, stating that they “are working together to capitalise on commercial and brand opportunities in Scotland and internationally.”

     

     

    It added: “The two organisations have agreed to explore opportunities on a variety of online commercial prospects including content development and brand promotions.”

     

     

    There is nothing on the STV site about the partnership, which came as a surprise to Scottish sports writers.

     

     

    They are acutely aware of the risk STV is taking in favouring Rangers in a city divided by footballing (and religious) allegiance to either Rangers or Celtic.

     

     

    Some members of the National Union of Journalists also point out that such a deal could compromise the channel’s reporters.

     

     

    One NUJ member told me: “I seriously fear that our members on the STV newsdesk will not be able to do their job properly, and may not be allowed to do so.

     

     

    “For example, one of the biggest football stories in Scotland concerns Rangers football club’s tax troubles. Can they report fairly on that? Will they report it at all?”

     

     

    According to the Rangers website story, the new partnership begins today with the latest Celtic-Rangers match, which will be transmitted online on the Rangers site.

     

     

    Rangers’ chief operations officer, Ali Russell, said: “We are delighted to be working with STV to develop and maximise joint online brand and commercial opportunities that benefit both organisations.”

     

     

    And the story also quotes STV’s director of broadcast services, Bobby Hain, as saying: “We are delighted to be working with Rangers in the online area and believe that this arrangement will be hugely beneficial to both parties…

     

     

    “We aim to work with a wide range of football and sporting organisations, creating opportunities for them to promote their brand in innovative ways.”

     

     

    A website favouring Celtic noted that STV appears to be keeping quiet about the deal and commented:

     

     

    “Scottish companies have been noticeably reluctant to go into deals with one or other of the big Glasgow clubs with Tennents typical of those businesses that realise that they risk alienation from a significant part of their core market if they sponsor one club but not the other.”

     

     

    Sources: Rangers.co.uk/VideoCelts’

     

     

     

    http://www.guardian.co.uk/media/greenslade/2011/dec/28/stv-group-rangers

  15. LivornoBhoy-stands by Neil Lennon on

    David Tanner reporting that PLUS Six is too small for the “Mighhhhhhhty” Rangers.

  16. I just got off the phone with a friend living in Minnesota. He said that

     

    since early this morning the snow has been nearly waist high and is still

     

    falling. The temperature is dropping way below zero and the north wind is

     

    increasing to near gale force.

     

    His wife has done nothing but look through the kitchen window and just

     

    stare.

     

    He says that if it gets much worse, he may have to spoil her and let her in.

  17. If I recall, Whyte had cashed in the money from 24-27000 season tickets for next 3 years, they have sold all catering rights for the rest of eternity and it is an open secret that they have not paid their Tax/NI Conts so far this season.

     

     

    Tax Case? The least of their worries right now… :)

  18. The Honest Mistake loves being first on

    “I’ll have a chat with Craig and see where we’re at with that one. “He (Dow Jones) is one of a number of stock exchanges that I’m really really interested in, the others are FTSE, DAX, CAC40 and NIKKEI, but its fair to say Dow Jones is my number one target”

  19. I don’t see the suspension in trading of RFC shares having too much practical impact. Would anyone seriously be considering buying shares in the company at the moment anyway?

     

     

    Similarly, I don’t put too much store in the Jelavic interview. We all know that translated interviews are often a little inaccurate, and we don’t know exactly what questions he was asked. And, while I’m sure that the players have an inkling that something is up, they won’t know too much about the true picture.

     

     

    Agents however should know about this sort of stuff. It’s what their clients pay them for. And any agent worth his salt should be advising his client to get the hell out of Dodge.

  20. New statement on their website by Whyte. Incredible. They are coming out of the stock market because of the “bureaucracy”.

  21. johann murdoch on

    STV now blaming Catholic schools for suspension of the mighty Rangers shares….more later..[cue pic of kenny misser scoring against us and “angry” Neil Lennon.}

  22. Whyte doesn’t do “bureaucracy”.

     

     

    He has enough trouble following rules and regulations.

  23. The Battered Bunnet on

    The suspension was inevitable as soon as they decided not to release the Auditors Report with their accounts. It doesn’t look too clever, and won’t do them any regulatory favours, but I get the impression that it’s just more water off that duck’s back.

     

     

    The following though is considerably more significant for Whytey:

     

     

    “The Plus Stock Exchange is also currently conducting an investigation into the circumstances under which Craig Whyte’s seven year disqualification from acting as a director in 2000 were not disclosed at the time of his appointment to the board of Rangers FC on May 6, 2011.”

     

     

    He has investments in and is a Director of numerous public limited companies. A baw kicking from the Plus Exchange, particualrly one that interests BIS, will substantially impact on his ability to wheel and deal with impunity.

  24. “bureaucracy”.

     

     

     

    Nothing to do with them investigating Whyte for not reporting he had been suspended as a Director for 7 years when he took over rangers… :)

     

     

    CraigWhyteCSC

  25. Gordon_J backing Neil Lennon says:

     

    9 January, 2012 at 13:22

     

    ‘I don’t see the suspension in trading of RFC shares having too much practical impact. Would anyone seriously be considering buying shares in the company at the moment anyway?’

     

     

     

    Assuming you get an actual paper certificate they’d probably be quite a good long term investment.

     

     

    Once they go bust huns would want the certicates to remind them of the good old days.

     

     

    And no doubt we’d want them too, but for different reasons.

  26. !!Bada Bing!! Kano 1000 on

    Joe F- thanks for your earlier reply.I hope PL is concentrating on giving Neil the players he wants to get us home,and not falling for the fire sale (again) at Poundland.

  27. Your all in form today! The excuses in hear are just as funny! It’s a good thing… it doesn’t really mean anything!

     

     

    Think they are all heading for the bus to Gullean!

  28. I am not a banker. I have however managed electronic stock exchanges for years.

     

     

    I am kind of surprised that the exchange has suspended Rangers shares considering Craig Whyte´s announcement

     

     

    Basically in this situation …… and if anyone more knowledgeable than me wants to step in and correct me … THEN PLEASE DO SO ….. the stick exchange will HALT trading in these shares. When a stock exchange HALTS trading in a share there is a known accepted problem that should be resolved within a known fixed time period. Often shares can be HALTED from being traded for small amounts of time 30minutes an Hour a day this is usually done when something “dodgy” seems to be happening and the shares are HALTED until this behaviour can be explained or sorted out. It is done for everybody´s security.

     

     

    Now Craig Whyte has actually stated

     

     

    “The delay has been caused as a result of finalising the audit, which the board believe will be complete on or around 31 January 2012. The delay in finalising the audit is related to an ongoing HMRC tax tribunal.

     

     

    I would therefore expect shares to be HALTED until the end of this fixed period the 31st of January and not the company SUSPENDED.

     

     

    Porky pies for sale

     

     

    Hail Hail

  29. I am abandoning my deeply satisfying intensely physical relationship with the lovely Ms Kelly Reilly ‘because of the bureacracy’.

     

     

    These bureaucrats, they don’t care how many hearts they break.

  30. If you had invested in a Rangers season ticket would you not be feeling rather foolish right now?

     

     

    I mean, seriously … ?

     

     

    FF

  31. Joe Filippis Haircut on

    Bada Bing No problem Fella, you have hit on my one concern will Neil be allowed to bring in the players he wants ? I feel he has built a very good squad of young players but it could be improved with a couple of quality signings.H.H.

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5