Duff and Phelps and any prospective Rangers buyer quoted have been making confident noises about a CVA being agree with creditors, we’ve even heard the club could be out of administration next week.
The mood changed yesterday when the SPL announced potential sanctions for a Newco to be admitted to the league following liquidation and increased sanctions for clubs in administration, which would only affect Rangers were they to remain under court protection until the start of next season.
Duff and Phelps now say, “the fact that such measures are being considered at such a sensitive point in the sale process at Rangers is disruptive and regrettable”.
It’s time for Duff and Phelps to follow through with all those confident noises and agree a CVA with creditors. If HMRC are open to the idea, conclude a deal, there is no need to wait for the FTT verdict. If HMRC will not agree to a CVA, which is my understanding, drop the pretence and tell us how you plan to proceed.
Is it too late to suggest they just pay their bills and save everyone all this trouble?
Pay your bills and stop complaining!
More later.
Can you write an article for CQN Magazine? Give me a shout, celticquicknews@gmail.com
Pay your bills!
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” Serious sport has nothing to do with fair play. It is bound up with hatred, jealousy, boastfulness, disregard of all rules and sadistic pleasure in witnessing violence. In other words: it is war minus the shooting. ” – George Orwell
Do you think, perhaps, this quote might be on the wall behind the desks of Neil Doncaster, Stewart Regan and whoever is currently in charge at Ibrox.
the HMRC walking away with hee haw and the Newco Huns in the SPL ….. I know it wouldn’t be the same in England …. but it means the HMRC hardly looks like an organisation not to mess with.
in fact if those useless gits (HMRC) had been quicker off the mark ….. ah what’s the point …..
J.O.
Are you lurking & working? HH
HH..
I ve noticed a distinct lack of humility down Govan way and amongst their naive support..
That’s why I hope every day hurts for them..
Let us NEVER forget their years of wrongdoing and puffed out chests of cheating triumphalism..
I m still appalled HMRC have not been more forceful..
They ll take their rage out on us honest citizens, which is ironic.
On a different note.. Good to see Shaun Maloney scored last night.
oglach on 12 April, 2012 at 13:29 said:
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 12 April, 2012 at 13:07 said:
”Couldn’t Celtic legally argue that any contractual obligations were no longer applicable given the SPL’s abandonment of sporting integrity?”
Celtic could make a case that the proposed actions of the SPL are such as to allow them to treat the whole agreement as at an end.
A bit like in employment law where egregiously bad behaviour by an employee allows an employer to summarily dismiss them.
Is there a provision in the new rules to allow newco to be called part of the O*d F**m. Surely no matter how it ends liquidation destroys that term.
Does Rangers’ being in administration prevent HMRC from moving for a winding-up order, say today?
ABZMike on 12 April, 2012 at 13:29 said:
———————————————————-
shirley to god, the SFA have a duty to look after and govern ALL scottish clubs, without fear or favour ? ( please. stop laughing ). It is their role.
the SFA need to release a statement to the effect, and in doing so, deny the newco (any newco) a licence to play top flight football in scotland. Like all new licence grants, the condition being that one is avaliable for entry into devision 3.
Stewart Regan could stand out like a becon of morality and integrety on this issue. Somthing the SFA has never possesed. Now is the time for them to do what they say
Total + Total = 2*(Total)
HH
No.7 on 12 April, 2012 at 13:35 said:
Is there a provision in the new rules to allow newco to be called part of the O*d F**m. Surely no matter how it ends liquidation destroys that term.
Problem with that is its “THEIR WORD” not ours
They will continue using old firm as it links newco to oldco, the more things change the more they stay the same.
HH
Mike
The SPL aren’t the custodians of rangers or any other club’s history, after all their league has only been around just over 10 years.
Anything which comes out of SPL rule changes regarding a newco retaining their history is codswallop.
The SFA however have been strangely silent on this, and well, just about any other matters.
Say No, to Newco,
Say No, to Newco,
Saaaaaaaaaaay No, to Newco…
Say No, to Newco…..
HH
Bobby Russell I am in Monaco or in my castle in the Borders so no one can find me… Doh!
Would anyone laugh if Rangers win the big tax case?
Meet the Newco, same as the Oldco.
Leeds Utd is their model here. Does anyone look at the current Leeds Utd and see anything other than the same club that Bremner, Lorimer et al played for the 70s?
Celtic_First,
The way things usually work out for them they wll probably get a bloody refund!
Gordon J,
I thought in the Leeds case, LUFC actually DID exit administration via a CVA. There was definite sleight of hand to get round HMRC’s objections, but nonetheless a CVA was voted through.
Leeds United did NOT liquidate. and they kept the same owner.
Any money from the tax case will be divided amongst all the other clubs in Scotland to pay for the good of the fabric of the game dont ya know.
Re ECF scorers in 2 or more finals.
Fontaine or Kopa possibly
If I was a hun there would be serious alarm bells ringing about this Ng guy. Singapores answer to Craig Whyte by the looks of it.
One of the three bidders for Rangers has told BBC Scotland that his offer stands, despite proposed changes to sanctions for insolvent clubs.
Bill Ng, the man leading a consortium from the Far East, is unhappy with the goalposts being shifted.
However, he added: “My bottom line is to ensure Rangers’s continued survival. We stand by what we promised.
“A change of rules does affect the finances of the club, but it does not affect our passion.”
SPL PROPOSALS
Minimum of 15 points deducted from any club entering administration
10-point penalty for two seasons for any club that transfers its share in the SPL to a new company
75% reduction in payments to any club relaunched as a new company for a period of three seasons
Requirement for clubs to pay players on time and to report any failure to pay wages
Requirement for clubs to report any failure to pay PAYE/NIC
Player registration embargo imposed on any club failing to pay PAYE/NIC
The Scottish Premier League will consider new proposals for financial fair play at a meeting on 30 April.
And Rangers’ administrators Duff & Phelps say the announcement of the suggested new penalties has caused “a delay in the sale process”.
“It is better to know the changes early than to get surprises after we have done our budget,” added Ng.
The other bids for Rangers have been made by Blue Knights, led by former director Paul Murray, and a group involving American tycoon Bill Miller.
BBC Scotland has not been able to contact either party concerning this development.
On hearing the SPL’s proposals, Duff & Phelps said: “Inevitably, bidders are now considering this information and will have to take a view as to whether it will affect their individual bids as they now stand.
“We hope to receive feedback from bidders as soon as possible in order for us to take the sale process forward as quickly as we can.”
Paul 67
Been lurking recently, getting lost on all the varying arguments & counter-arguments.
I just wanted to commend all your great work.
Maybe when all this is blown over, a wee statue could be effected outside paradise. You are surely writting yourself into Celtic history with legendary status.
On a serious note looking forward to the history article later. Can’t wait to get my 12 in row shirt printed.
Hail, Hail to 12 champions.
Gordon_J backing Neil Lennon on 12 April, 2012 at 13:41 said:
Meet the Newco, same as the Oldco.
Leeds Utd is their model here. Does anyone look at the current Leeds Utd and see anything other than the same club that Bremner, Lorimer et al played for the 70s?
========
My understanding is that the Leeds United Football Club 1919 still exists. Leeds Utd never actually entered liquidation a different scenario from Rangers being liquidated.
At ~ £2m for 6 week’s work, Duff and Phelps want this gig to continue as long as possible.
Errected!
Can someone bring over to this page Neil Canamaler post @1.49am please? Ive tried it but Im hopeless at it. Its very interesting!!
Bhoys,
Anyone know about DD buying Carlise FC? Just a rumour i have read.
Agreement reached with UEFA – no solution found with FIFA
The ECA Executive Board was pleased to announce to the General Assembly that an agreement was reached with UEFA in relation to a new Memorandum of Understanding (MoU). The new agreement shall run from 1 June 2012 until 30 May 2018 and includes the following points:
Insurance
UEFA will establish starting June 2012, for the start of the EURO in Poland/Ukraine, an insurance covering the injury risk of players while on international team duty. This insurance is valid for all players registered with a European club, irrespective of their nationality, and for all matches mentioned in the international calendar, including both official and friendly matches.
Participation of clubs in the benefits of the UEFA EURO
In accordance with the existing MoU with UEFA, the clubs are entitled to 55 Million Euro of the EURO 2012 benefits as recognition of the significant contribution of clubs to the success of this tournament. As part of the new agreement, this amount will be substantially increased in time for this year’s EURO with a further increase for the UEFA EURO 2016 in France. The precise amounts will be announced at the UEFA Congress in March in Istanbul.
Governance / club representation in decision-making process
In the future, the clubs will have a “Referral Right” on all decisions affecting club football. No decision relating to club football will be taken without the consent of the clubs.
International Calendar
The European football family has come to a compromise solution for the future international calendar, which will be made up of 9 double-headers over a 2 year period with no single friendlies. It is to be noted that the August friendly match date was completely removed as a result of ECA’s request. Additional points, which form part of the International Calendar proposal, include:
No more than one international tournament per player per year
The Final Tournaments of all confederations shall end mid-July
The Africa Cup of Nations shall start as soon as possible in January
The two matches of the double-date shall be played on the same continent (at least the second match must be played in Europe for European teams)
Commenting on the agreement with UEFA and the situation with FIFA, ECA Chairman Karl-Heinz Rummenigge stated:
“The agreement with UEFA is a major break-through for European club football. With this agreement, UEFA clearly recognises the importance of clubs and the significant contribution they make to the success of national team football. The negotiations have not always proved easy, but were always conducted in a fair and respectful manner. I sincerely thank UEFA, in particular UEFA President Platini, on behalf of all European clubs and look forward to our continued cooperation. This is once more a proof that in the European football family solutions can be found in a cooperative and fair way.”
“While an agreement has been reached with UEFA, the situation remains unsatisfactory in relation to FIFA. Unfortunately, discussions with the FIFA President have failed to lead to a satisfactory outcome which takes account of the clubs’ demands.”
Executive Board Elections
Ebru Köksal and John McClelland have stepped down from the ECA Executive Board, as they ceased to hold an active office at their respective clubs. Hence, Executive Board Elections were held in order to fill the vacancies. ECA Ordinary Member Clubs eligible to vote participated in the election and elected Theodoros Giannikos (Olympiacos FC) and Jakub Otava (AC Sparta Praha) as new Executive Board Members for the remaining period of the current membership cycle, which lasts until the end of the 2012/13 season.
EU Autonomous Agreement
The ECA General Assembly approved the autonomous agreement regarding the EU Social Dialogue. The EU Social Dialogue brings together organisations representing employer and employees in European football in order to agree employment and social conditions. The main element included in the agreement concerns the minimum requirements for player contracts in Europe. Each party involved in the EU Social Dialogue needs the approval of their respective decision-making bodies before it can be implemented. The date provisionally set for a possible signing ceremony of the agreement is April 2012 in Brussels.
http://no-tonewco.glas2014.com/
Carlisle even!!
CelticFirst at 13.41
You don’t need to worry on that score.
If HMRC are awarded £75 million, Keith Jackson will still call it a moral victory. Moral being the operative term here.
here ya go jude,
Neil canamalar Lennon hunskelper extrordinaire on 12 April, 2012 at 01:49 said:
Bloke109…,
as someone posted earlier
http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=1848&newsID=959
note the date of the award and the presenter.
uefa agreed a confidentiality pact, whilst govt were involved in negotiations, remember the subject of the negotiations and justify uefa’s very public actions.
The uefa rep obviously had uefa’s permission to make the confidentiality agreement.
stinky stinky smelly
Danso. Ta muchos!!
SCOTLAND’S FIRST CLUB LICENCE
Friday, 21 March 2003
The Scottish FA has awarded Rangers FC the first club licence in the new Scottish National Club Licensing system.
The SFA is currently undertaking a rigorous assessment of all league clubs in Scotland, who will require to demonstrate a high quality infrastructure in many areas ranging from youth development to media facilities.
The system will have widespread implications, particularly as a licence will be needed to take part in UEFA competitions from 2004.
The clubs have to demonstrate high standards in the following areas:
Infrastructure – the safety, security and comfort of supporters, players, match officials and media; standards of facilities at the club.
Sporting – the standard of coaching of adult and youth players as well as the facilities available.
Administration – an effective management support system.
Financial – sound financial practices.
Codes of Practice – for players and supporters.
David Taylor, Chief Executive, said: “Although Rangers are the first club to earn their club licence, the other clubs in the SPL will follow shortly. The licensing system is being imposed right across Europe, but I am pleased to say that standards in Scotland are universally high and we anticipate our top clubs having little difficulty in meeting the specifications for a licence.
“The licensing system is a fairly radical step forward for our national game, and is an indication of how football in Scotland is being modernised and regulated by the Scottish FA. It will bring benefits for everyone in football, including the fans, in years to come.”
Campbell Ogilvie, Rangers’ General Secretary, added: “We are delighted to be the first Scottish club to receive a licence. We can see the benefits of the system and strongly believe in the principles behind the licence, which is being brought in on a Europe-wide basis.”
The licensing system applies to all SPL and Scottish League clubs, with SPL and Division 1 clubs being assessed this year, and Divisions 2 and 3 clubs next year.
Find a Tenpin Bowling
Centre in Your Area
oglach
mibbe Carstairs.
ECA executive board suspend Lyon
Tuesday, 14 02 2012
Further to the recently issued award of the Court of Arbitration for Sport (CAS 2011/O/2574) in relation to the FC Sion/Olympique des Alpes SA case, the ECA Executive Board unanimously decided to suspend, with immediate effect, FC Sion as a member of the European Club Association. This is due to a breach of the ECA Statutes, the Memorandum of Understanding (MoU) on which ECA was established and ECA’s undertakings under that MoU.
According to the above rules, ECA shall and must ensure that all its clubs are committed to adhere to the FIFA and UEFA Statutes and regulations and recognise the Court of Arbitration for Sport (CAS) as the sole competent body to decide on sports related disputes between ECA, its members and UEFA or FIFA.
This suspension remains valid until further notice and shall be re-examined in case of new developments.
Bill Ng?
I thought that was what the admins at ibrox said when they opened the mail.
Bill…ng, Bill… ng, bill…ng,…