Admin 2 is going to be interesting. Admin2? Yep, of course, because their claims they are the same club mean it has to admin 2 and 25 points deduction.
However. What will the powers that be decide it is?
Admin 1 and 15 points?
Admin 2 and 25 points?
Though the follow followers will insist on 25, it may well be that the investors do not give a monkeys re the history, but are more concerned that their ” investment” is not punished any further, demand to be treated as a Newco.
....PFayr supports WeeOscar on
Twisty
After the utterances of the SFA they’ll have a job trying to revert to Newco
67Heaven ... I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors on
twists n turns
08:23 on 5 May, 2014
MONEY is what it has always been about and, since they have no more, they will BE no more …….TICK TOCK ….,!!!
Ach, jist need to introduce some ” new” rules to suit. Remember, Mr Wallace’s bonus depends on him “re establishing” relationships! Ha.
Have not seen the detailed RFC accounts ( has anyone?) but I’ll be interested to see how much has been spent on brown envelopes:-)
Mind you, it may not be listed as brown envelopes, just entitled, ” re-establishment fees” :-))
Che on
TT/PF
15 or 25 or another entity really makes no odds, they are where they are, and the galling thing for them is they wish so badly to be where we are…Forza Celtic Glasgow
I got an e mail saying I’d been a winner in the Euromillions on Friday. Sadly I only won a few quid. I was excited though. My first thoughts were that if I’d won the big one, I was going to fulfil my lifetime ambition and buy Rangers fc, lock stock and barrel.
Buying them, you understand, wasn’t the main part of my ambition, but buying them would have allowed me complete the main part, which has always been to operate one of those big wrecking ball machines.
CultsBhoy on
As well as Loving Celtic, many of you will be aware I am a regular at Pittodrie ( as I live in Aberdeen and have a son who plays football non stop meaning trips to see the Bhoys are curtailed)…
Anyhow, it’s obviously great for me to see my 2 teams battling it out in what have been exciting games over this season.
It’s clear to me that AFC are the new rivals to Celtic so why don’t the media leave their succulent lamb past behind them and focus on the new contenders in Scottish football. The obsession with a reincarnated self destructing club of shame beggars…
Expect minimal SPFL coverage next year if the Hun championship contains Hearts, Huns and Killie Bhoys…. Aberdeen and Celtic will be a side dish regardless of how good the football is between them .
They are having extreme difficulty grasping the fact that the deadco woes are long term, and no amount of printed or spoken words will change that fact. Keep saying it’ll be alright, and it’ll be alright is the order of the day.
All that will change it, is £50 million. I don’t think Clyde, bbc Scotland, the Record or the Sun has the kinda funds at their disposal to make it right.
Tom Molach on
I don’t get this admin stuff at sevco. Can anyone clarify?
It seems to me they don’t have any debt, except the recent £1.5m loans. What can they dump by going into admin? Players contracts? Wouldn’t they be better trying to offload the players rather than tearing up contracts? I’d imagine they’d get something for some of the players.
If they go into admin now then it seems to me that the principal debtor is George Letham. He would then be in a powerful position. Is there some other debt that I don’t know about?
If Letham is the main debtor then he would be in a position to accept a CVA or reject it.
If he accepts it then he loses his money and the current regime carry on, but still skint, with the noose that is Ibrox around their neck.
If Letham rejects the CVA then it is liquidation and the players walk (except captain Lee) and the assets are sold and distributed to the debtors followed by the owners.
I’m missing something, but not sure what. Why will the current owners go for administration rather than liquidation? Who other than the current owners could push for admin? George Letham?
67Heaven ... I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors on
Yeah I hope so too bud. If you’re right and I’m wrong, the game is most definitely up this time! Another 100 and odd years of manipulation , cheating and complicit behaviour is a dreadful thought.
the unthank road on
Twists and turns
I went to one of the Q&A’s at the KOSB , Blantyre and said if I won the Euromillions I would buy Rangers for 30 million and keep them in the 4th division for evermore. Paul, Paul and Phil Mac agreed;- I would need more than £30 million to revive that lot!!!
Don’t be too dismissive of Syd’s thoughts. We are conditioned by history, and history tells us we need to be very concerned where that lot are concerned.
My optimism stems from the fact that despite the attempts by the usual suspects to manipulate their position, this time, money, or the lack of it, determines the goalposts have now moved, and there is no easy escape this time.
However, that aforementioned conditioning sees me retain a modicum of apprehension!
She played all her senior tennis career with a chronic liver condition and still broke into the Top 50 and competed at the 2012 Olympics, winning her opening tie.
You wonder how much she could have achieved with a fair chance and then you wonder even more at what she did achieve with the challenges she faced.
Amazing to think that both she and Andy developed as players in their teens in the tennis-unfriendly setting of Scotland.
Tom Molach on
the unthank road
09:38 on 5 May, 2014
Cheers. That explains how they can maintain control. I never thought of that.
Any idea what they gain by going into admin? Dumping Letham loan and player contracts? Why not just sell the players?
the unthank road on
T&T
£28.64
Done deal! This buying a club is easy peasy !!!!!!
The Battered Bunnet on
Tom Molach
TRFC Ltd owes its parent company RIFC plc something in the order of £20M.
The spivs will decide how to reorder things. Mr Letham has no material influence.
Tom Molach on
the battered bunnet
09:44 on 5 May, 2014
Thanks.
the unthank road on
Tom M
I read on here that the club owes the company £16 million. Can some accountant types on here confirm?
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SFTB
Damn! it would have been mine if I hadn’t gone for the gratuitous insult!
Happy BH everybody!
billy bhoy
09:01 on 5 May, 2014
The comments have been renumbered and you’ve been awarded 1690.
Che
Admin 2 is going to be interesting. Admin2? Yep, of course, because their claims they are the same club mean it has to admin 2 and 25 points deduction.
However. What will the powers that be decide it is?
Admin 1 and 15 points?
Admin 2 and 25 points?
Though the follow followers will insist on 25, it may well be that the investors do not give a monkeys re the history, but are more concerned that their ” investment” is not punished any further, demand to be treated as a Newco.
Twisty
After the utterances of the SFA they’ll have a job trying to revert to Newco
twists n turns
08:23 on 5 May, 2014
MONEY is what it has always been about and, since they have no more, they will BE no more …….TICK TOCK ….,!!!
PF
Ach, jist need to introduce some ” new” rules to suit. Remember, Mr Wallace’s bonus depends on him “re establishing” relationships! Ha.
Have not seen the detailed RFC accounts ( has anyone?) but I’ll be interested to see how much has been spent on brown envelopes:-)
Mind you, it may not be listed as brown envelopes, just entitled, ” re-establishment fees” :-))
TT/PF
15 or 25 or another entity really makes no odds, they are where they are, and the galling thing for them is they wish so badly to be where we are…Forza Celtic Glasgow
twists
The HFA? They cgaf….a shameless bunch with a neck you couldnae mark with a blowtorch.
CHE
stoap it ! stoap it!
My sides can’t take much more!
Done in the back yesterday lifting slabs, now double pain!
How many soup-kitchens would
The Celtic Way have fed?
The huns do what they want, when they want
and, to whom they want – deal wi it!
I’d like to see us put in a cheeky wee bid for Kenny Miller, just enough, to force the price up.
67 heaven
We live in hope my friend!
I got an e mail saying I’d been a winner in the Euromillions on Friday. Sadly I only won a few quid. I was excited though. My first thoughts were that if I’d won the big one, I was going to fulfil my lifetime ambition and buy Rangers fc, lock stock and barrel.
Buying them, you understand, wasn’t the main part of my ambition, but buying them would have allowed me complete the main part, which has always been to operate one of those big wrecking ball machines.
As well as Loving Celtic, many of you will be aware I am a regular at Pittodrie ( as I live in Aberdeen and have a son who plays football non stop meaning trips to see the Bhoys are curtailed)…
Anyhow, it’s obviously great for me to see my 2 teams battling it out in what have been exciting games over this season.
It’s clear to me that AFC are the new rivals to Celtic so why don’t the media leave their succulent lamb past behind them and focus on the new contenders in Scottish football. The obsession with a reincarnated self destructing club of shame beggars…
Expect minimal SPFL coverage next year if the Hun championship contains Hearts, Huns and Killie Bhoys…. Aberdeen and Celtic will be a side dish regardless of how good the football is between them .
Killie Boys ( force of habit)
Junglesyd
They did, but they can’t anymore.
Nae mun, nae fun.
The manager of the year award was decided
quick, just incase Jackie Mac wins the bigger
cup than DM won for the Dons, eh.
twists n turns
09:19 on 5 May, 2014
Hahahaha …….won’t be long now….!!!!!
Tom Molach
Aye, well i’ve just renumbered it to 1960 – my birth year.
That’s better!
twists n turns
09:22 on 5 May, 2014
__________________
I hope you’ve got that right
we’ll see.
Cultsbhoy
They are having extreme difficulty grasping the fact that the deadco woes are long term, and no amount of printed or spoken words will change that fact. Keep saying it’ll be alright, and it’ll be alright is the order of the day.
All that will change it, is £50 million. I don’t think Clyde, bbc Scotland, the Record or the Sun has the kinda funds at their disposal to make it right.
I don’t get this admin stuff at sevco. Can anyone clarify?
It seems to me they don’t have any debt, except the recent £1.5m loans. What can they dump by going into admin? Players contracts? Wouldn’t they be better trying to offload the players rather than tearing up contracts? I’d imagine they’d get something for some of the players.
If they go into admin now then it seems to me that the principal debtor is George Letham. He would then be in a powerful position. Is there some other debt that I don’t know about?
If Letham is the main debtor then he would be in a position to accept a CVA or reject it.
If he accepts it then he loses his money and the current regime carry on, but still skint, with the noose that is Ibrox around their neck.
If Letham rejects the CVA then it is liquidation and the players walk (except captain Lee) and the assets are sold and distributed to the debtors followed by the owners.
I’m missing something, but not sure what. Why will the current owners go for administration rather than liquidation? Who other than the current owners could push for admin? George Letham?
jungle sydnegakevanon 3
09:16 on 5 May, 2014
What a strange post / moniker
Junglesyd
Yeah I hope so too bud. If you’re right and I’m wrong, the game is most definitely up this time! Another 100 and odd years of manipulation , cheating and complicit behaviour is a dreadful thought.
Twists and turns
I went to one of the Q&A’s at the KOSB , Blantyre and said if I won the Euromillions I would buy Rangers for 30 million and keep them in the 4th division for evermore. Paul, Paul and Phil Mac agreed;- I would need more than £30 million to revive that lot!!!
67 Heaven
Don’t be too dismissive of Syd’s thoughts. We are conditioned by history, and history tells us we need to be very concerned where that lot are concerned.
My optimism stems from the fact that despite the attempts by the usual suspects to manipulate their position, this time, money, or the lack of it, determines the goalposts have now moved, and there is no easy escape this time.
However, that aforementioned conditioning sees me retain a modicum of apprehension!
The unthank road
We will combine our resources.
Your £30 million and I can chip in £28.64p if it helps:-)
Googled “Rangers Loan”, and found this.
http://www.skysports.com/story/0,19528,11788_2341321,00.html
Just shows you how jammy we Celts are!
Tom Molach
Isn’t the holding company, or whatever they are called, the main creditors? Therefore they can “do” everybody again?
Tom
Did you love the bit which says a move to Ibrox would help his career?
Oh my aching sides!
RIP Elena Baltacha
She played all her senior tennis career with a chronic liver condition and still broke into the Top 50 and competed at the 2012 Olympics, winning her opening tie.
You wonder how much she could have achieved with a fair chance and then you wonder even more at what she did achieve with the challenges she faced.
Amazing to think that both she and Andy developed as players in their teens in the tennis-unfriendly setting of Scotland.
the unthank road
09:38 on 5 May, 2014
Cheers. That explains how they can maintain control. I never thought of that.
Any idea what they gain by going into admin? Dumping Letham loan and player contracts? Why not just sell the players?
T&T
£28.64
Done deal! This buying a club is easy peasy !!!!!!
Tom Molach
TRFC Ltd owes its parent company RIFC plc something in the order of £20M.
The spivs will decide how to reorder things. Mr Letham has no material influence.
the battered bunnet
09:44 on 5 May, 2014
Thanks.
Tom M
I read on here that the club owes the company £16 million. Can some accountant types on here confirm?
Or confirm I am talking dross (As usual!)
67Heaven … I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors
09:28 on 5 May, 2014
__________________
Aye!
Yeblewmeawaythere -csc
the unthank road
09:47 on 5 May, 2014
See The Battered Bunnet post just above. Same ball park figure. What’s £4m quid when you’ve not got a bean?
Same idea as yours so probably not dross.
One of the most difficult skills is volleying, Ronaldo makes the back heel volley look easy ! outrageous skill from the best player in the planet
http://www.youtube.com/watch?v=JcoMXSrf_PA&feature=youtu.be