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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Neil Lennon to join Botham, Jackie Mac and Simon Donnelly on the first leg on their charity walk for Stan Petrov and other charities.
More Than A Club
ernie lynch on 12 April, 2012 at 14:50 said:
Lennon n Mc….Mjallby on 12 April, 2012 at 14:32 said:
”A share in the spl is basically a license to play within it,transferring that share from a dead club to a new one does not preserve the history of the dead club”
It would be a bit like buying up a lot of old war medals and calling yourself a hero.
==============
to be fair in their case it would be like buying a bunch of old trophies dishonestly won, a sectarian signing policy and calling yourself a bigoted cheat!
National team doctor claims Petrov could have been a Chernobyl victim. Lets just hope he’s ok.
http://www.dailymail.co.uk/sport/football/article-2126779/Bulgarian-doctor-claims-Stiliyan-Petrov-Chernobyl-victim.html#ixzz1rpq69aci
From the official site
Interesting little thank you to Reagan
AT the SPL General Meeting today (Thursday), SPL clubs unanimously approved the introduction of an Under-20 league from next season 2012/13.
The introduction of the Under-20 League forms an important part of Scottish FA Performance Director Mark Wotte’s review of the Elite Player Pathway.
All SPL clubs will participate in the U20 League and the SPL Board may also permit a club or clubs in the Scottish Football League to participate in the U20 League.
Celtic Chief Executive Peter Lawwell said: “We’re pleased that this new initiative has been voted through at today’s General Meeting. We fully support the youth development initiatives brought forward by the SFA’s new Performance Strategy.
“Credit should be given to Stewart Regan, Craig Levein and Mark Wotte, and we look forward to working with them within this new set-up over the coming years.”
Celtic´s Head of Youth, Chris McCart said: “It was Mark Wotte, the new Performance Director, who put forward a recommendation for Scottish football, and in his first year in the job it was important that the clubs supported him, and that´s what we’ve done today.
“After a season of it we will be able to review whether has been a success or not, but I think the clubs are there to support Mark on his recommendation of going to an Under-20 league.
“One of the aims of the new league is to better equip young players for the demands of first-team football when they step up from youth level.
“One of the most difficult areas is the transition between youth development and the first-team with no reserve league there,” added McCart. “But at Celtic we have been fortunate in having a Development Squad, which Stevie Frail and Danny McGrain have been taking charge of.
“Our young players have experienced games against top quality English and European teams. We have also been involved with the NextGen in Europe as well. So we have felt that we have had some good opposition for the young players´ development.”
Arrangements for the new league, which were agreed in principal, are still be finalised, and McCart will meet with Neil Lennon, Peter Lawwell and John Park in the near future on how to implement the changes within the club.
Neil Doncaster, SPL Chief Executive, said: “Providing the right platform for developing young Scottish players is vital for the whole of Scottish football and I am delighted to announce the introduction of an U20 League from next season.
“Working in conjunction with the Scottish FA, I would hope this goes someway to reducing the development gap between the current Under-19 League and the Clydesdale Bank Premier League to better equip young players for the demands of first-team football and aiding the development of more and better young Scottish players for the Scotland national team.”
Mark Wotte, Scottish FA Performance Director, said: “I’m delighted at the decision of the SPL clubs today to approve the introduction of the Under-20 League.
“This is a fundamental part of the Scottish FA’s Performance Strategy and it will be vital in bridging the gap between the current U19s and the first-team squads.
“I am hugely encouraged by the positive discussions that have taken place between the SPL and the Scottish FA and, in particular, the support of the clubs’ Heads of Youth and chairmen during the period of consultation.”
And Stewart Regan, Scottish FA Chief Executive, added: “Today’s decision is a major step forward in the football bodies working together in the best interests of the game. Mark Wotte has identified the Under-20 League as a key driver of the Performance Strategy and I am delighted the clubs share his vision.”
Ernie
You have a very selective memory.
I am not going to get into a oh no I didn’t debate with you.
That post is incredible.
TT
@SPLFanSurveys: For anyone not receiving confirmation e-mails we’ve hit a sending limit, we’re working with our hosting provider to cope with the demand
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 12 April, 2012 at 15:03 said:
”TinyTim
I can back you up all the way on this one.
Not once did you EVER waver from that assertion.”
Claiming credit for correctly calling a vague, nebulous, non specific prediction has been a tell tale sign of shyster fortune tellers down through the years. Like this
http://www.youtube.com/watch?v=kuIbjpg4-aQ
TT denied the huns would go bust.
He claimed the spirit of hunnishness would survive in some shape or form. No one ever suggested otherwise.
Paul….
up_over_goal on 12 April, 2012 at 14:16 said:
Alex Thomson’s new blog, complete with hilarious picture of ra peepil:
Guys….I have been left a bit uneasy by the blog’s reaction (and that of the RTC blog) to the spl proposals.
Yes, there is a lot to be concerned about regarding these proposals. However, a previously more lucid discussion has descended almost completely into ‘kill rangers’.
Alex Thomson’s blog begins to sift through the various issues and arguments. I don’t know how factually accurate his take is, but I found it interesting – particularly that rfcia could otherwise come back with fewer sanctions today, compared to what might exist under the new rules.
Time for clear minds…..
traditionalist88 on 12 April, 2012 at 14:53 said:
Ernie
And telling everyone else to wear a poppy…
===============================
Talking of which it is Workers Memorial Day on 28th April.
Events in Scotland:
Bathgate
There will be a ceremony at Workers Memorial, Bathgate Sports Centre, Balbardie Park Torphichen Road, Bathgate, West Lothian EH48 4LA, at 12.30pm
Bonnyrigg
Meet at the Workers Memorial, George V Park Bonnyrigg, at 12.30pm
Coatbridge
There will be a commemoration at Summerlee Industrial Museum, Heritage Way, Coatbridge, ML5 1QD; 12 noon.
Dundee
Commemoration at Memorial Tree adjacent to Discovery Point Riverside Drive Dundee, 12 noon, In addition thr Dundee City Council Annual Lecture is to be given by Asbestos Action Tayside in Dundee City Chambers, City Square on 27th April.
Edinburgh
There will be a ceremony at the Workers Memorial Tree and Memorial, West Princes Street Gardens, Edinburgh; 12 noon.
Falkirk
There is a ceremony in Falkirk Council HQ, Municipal Buildings, West Bridge Street, Falkirk, FK1 5RS; 12 noon
Fife
Ceremony at the Memorial Tree, Beveridge Park, Kirkcaldy; 11.00 a.m. on Thursday 26th April
Glasgow
There is a commemoration at George Square at 12 Noon. Wreaths will be laid at the proposed site of the new memorial do be unveiled in 2013.
Hamilton
Commemoration at the memorial, Council Offices, Beckford Street, Hamilton at 12 noon.
Irvine
Commemoration at Memorial Gardens, at Burn Street, Irvine Memorial Gardens, North Ayrshire, 26th April at 6.30 -7pm
Kilmarnock
Assemble 10. 45 am at Dower House, Dean Country Park, Kilmarnock. Ceremony and laying of wreath at 11.00 am.
Greenock
Procession from Inverclyde Council Municipal Buildings, Greenock 11.00am Service and Wreath Laying Ceremony Clyde Sq
There is a nice little token of remembrance (a purple ribbon) we could encourage Celtic to display on their jersey perhaps……ahem.
TinyTim on 12 April, 2012 at 15:11 said:
”I am not going to get into a oh no I didn’t debate with you.”
Probably wise.
Sorry bhoys.
No time to stand up for myself .
Other more serious matters have arisen.
TT
Ernie
he did and as far as I am concerned the huns are still trading. Not quite bust yet I am sure you agree.
He also stated that we would be playing a quintessentially British team ..Jeff Stellings words not mine …… at Ibrox next year.
I think we are on the home stretch.
Nothing has happened yet.
But we can revisit this within the next few weeks and see who was wrong and who was right.
I think he will be proven wrong on the huns going bust and proven right about Ibrox and Old Firm contracts etc.
Lets not get ahead of ourselves
Hail Hail
“The wider morality of allowing such a newco anywhere near the SPL, having not paid the £75m owed to you, me and every other taxpayer, is a wider argument.
I can certainly tell you from conversations with the administrators and HMRC and Uefa that the very idea is not going to play well.”
I think UEFA will put an enormous boot into Newco rangers baws once they know exactly what the outcome of Administration is going to be.
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 12 April, 2012 at 15:21 said:
”He also stated that we would be playing a quintessentially British team ..Jeff Stellings words not mine …… at Ibrox next year.”
I don’t recall anyone suggesting otherwise.
Ernie
I recall quite a few and lets be honest here they still might not.
Hail Hail
TinyTim on 12 April, 2012 at 14:55 said:
We have had over 18 months of hyperbole about the demise of The Darnel.
It just ain’t gonna happen.
Not too many cries for me to eat tat ties today (:-)
TT
=============
I don’t think that there is anyone on here who has ever thought that they would go away totally. They will liquidate however and that’s good enough for me. D&P’s statement yesterday that they couldn’t name a preferred bidder because of the new proposed rules on liquidation was a bit of a give away. Their entry straight into the SPL is as predictable as it is disgraceful and the 10 point sanctions over 2 years is far too leniant and has to be looked at.
lets not get bogged down in semantics. Many thought that the huns would climb up from SFL3. Tinytim stuck by his guns and said the SPL.
Hail Haik
I think that for Celtic F.C. the scenario of events which have unfolded with regard to Rangers, provides an enormous challenge but it also is, without doubt, a “once in a lifetime” opportunity to try and level the playing field. We will never ever have an opportunity like this again to try to establish a fair and honest football platform, be it administration, T.V. commentators, referees, newspapers etc.etc.. I know some will snigger and dismiss such a thought and I admit it ,success in this would be a highly unlikely outcome but I repeat that I think that we will never have a better opportunity to correct the wrongs of Scottish football so we may as well give it everything we got.Here’s hoping
ernie lynch on 12 April, 2012 at 14:50 said:
”A share in the spl is basically a license to play within it,transferring that share from a dead club to a new one does not preserve the history of the dead club”
It would be a bit like buying up a lot of old war medals and calling yourself a hero.
————————————-
thats the line of today so far, brilliant.
in real life though, they can best it with deeds.
its like inviting her majestys soldiers to a match day while not paying her the taxes.
StMichaelsBhoy2 on 12 April, 2012 at 14:45 said:
Strong words in a US article about the SPL’s proposals:
Is Doping Acceptable in Scottish Soccer
Cracking read matey.
CELTIC manager Neil Lennon believes the club’s title-winning party at Kilmarnock last weekend will persuade Fraser Forster to make his move to Parkhead permanent.
The big keeper, who is nearing the end of his second loan spell at the Glasgow club from Newcastle, celebrated with his team-mates following the 6-0 win which clinched his first SPL winners’ medal and he can edge closer to a Scottish Cup double if Celtic get past Hearts in Sunday’s semi-final at Hampden.
Lennon, speaking in Drumpellier Country Park, Coatbridge, before joining Sir Ian Botham in a charity walk in aid of Leukaemia and Lymphoma Research, refused to talk about reports linking him with Sunderland keeper Craig Gordon saying, “I can’t clarify that, no.”
However, the Celtic boss is confident of keeping Forster.
“We are hoping to speak to his agent and Fraser himself in the next few weeks,” said Lennon.
“He knows we are very keen to get things tied up with him as he has had a fantastic two seasons here.
“The feeling he may have got on Saturday… I think it would be very difficult for him to leave here now.
“He is making all the right noises at the minute so it is a case of getting things sorted out.”
Lennon admitted James Forrest’s ankle injury makes him a major doubt for the Hearts game.
He said: “He is struggling.
“I think he will be a major doubt for the game at the weekend.
“He took a real heavy knock and there was a lot of bleeding in the soft tissue area as well as well as bone bruising.”
@alextomo: Been invited on Radio Clyde football phone-in. I hereby challenge every hack who doubted I’d been threatened to say it face to face live…
danso_1888
I know it’s a couple of pages back but that licence thing you posted is priceless. It says it all about the people who run Scottish football. ‘Sound financial practice at Ibrox’ – you couldn’t make it up.
Celtic Football Club is in a strong position in the midst of this crisis in Scottish Football, so long as we stay calm and stick to-gether – Supporters; Players; Management; and the Board. SOLIDARITY is the name of the game and we, the Good Guys,will win through.
Alex Thomson has tweeted: “Been invited on Radio Clyde football phone-in. I hereby challenge every hack who doubted I’d been threatened to say it face to face live…”
and then “They talk tough when I’m 400 miles away – let’s see them show up when it matters.”
That will be a must listen show
Scottish Premier League: Is Doping Acceptable in Scottish Soccer?
By Daniel O’Connell (Contributor) on April 12, 2012
Imagine if you will an athlete. Let’s say he’s a 100m runner, and he has dominated the field for 10 years. He’s so successful, so popular, so charismatic, that many people consider the future of the event itself depends on his continued participation, and success in, competition.
He brings millions of dollars into the sport in sponsorship and television deals every year, and if he was to retire, no one would be interested in attending track meets or watching them on television any more.
Now this athlete has been at the top of his game for many years, but time is catching up with him. It emerges that he has recently been using a new type of performance enhancing drug, and this discovery throws up the revelation that actually, he has been using steroids for his whole career. What should happen to our now disgraced hero?
Should he be stripped of every Olympic and World gold medal he has won while using performance enhancing drugs? Should his personal records be removed from their placing in the world records? Should he be banned from all competition for at least the minimum period prescribed in the rules?
Or should he be forgiven and excused it all as a simple matter of expediency? We can’t have the money-tap for the sport turned off, after all. Can we?
What’s more, years of steroid abuse have caused serious physical deterioration in our athlete, and he may have to retire from the sport. Should the sport pay for his medical treatment to allow him to continue?
Consider then the curious case of Rangers Football Club. The most successful club in Scotland, they have won the Scottish title 54 times and claim over 100 first class honors in their history. They attract the second highest attendances in the SPL and their fan base probably provide the majority of the viewing public for SPL matches televised on Sky Sports and ESPN.
Despite this, Rangers is in trouble. Since the club was taken over by Craig Whyte in May 2011, they have not remitted any of the taxes due to Her Majesty’s Revenue and Customs (HMRC) in Pay as You Earn (PAYE) tax and National Insurance Contributions (NIC).
Under previous owner Sir David Murray, the club operated an Employee Benefit Trust (EBT) scheme from 2000 to 2010. This is a scheme whereby employees are paid (and taxed on) a very small percentage of their wages. The remainder is paid into a trust, which then gives “loans,” to the employee, which are non-taxable and never repaid.
This is perfectly legal, but the key word is “trust.” The employee must “trust” the employer to ensure they are paid, “loans,” from the trust. Contractual payments absolutely cannot be made through the EBT. Evidence has emerged in the public domain which suggests that Rangers players were assured in writing that they would be paid from an EBT, and that they would never have to repay the money.
HMRC maintain that the payments made to Rangers players in this period were contractual in nature, and therefore taxable. They have presented Rangers with a bill for £24m in unpaid taxes, and £12m in interest. Should the First Tier Tax tribunal find in their favour, a further penalty will be imposed, which could see the final bill reach as much as £75m.
Since at least 1999, when a similar tax dodge was operated (Rangers admit this and have committed to paying £2.8m to HMRC), Rangers has therefore used non-payment and evasion of tax to give the club a financial and sporting advantage over every other club.
That’s not all. As Rangers has made payments to players which were not included in their contracts, the players involved were not correctly registered with the national association, and so ineligible. The accepted sanction for fielding of ineligible players in soccer is for the match to be recorded as a 0-3 defeat.
Since 1999, Rangers has won the Scottish Premier League seven times, whilst fielding ineligible players whom they could not have afforded to pay if they were not avoiding making tax payments on their wages.
To the outsider, it seems simple. Rangers must be stripped of all honours won during their financial “doping” years.
It goes beyond even this. The President of the Scottish Football Association is Campbell Ogilvie. He has held influential positions with the SFA and SPL over a period of many years, going back to the 1990’s. At which time, Campbell Ogilvie was the Secretary of Rangers FC.
Indeed, Campbell Ogilvie was himself paid via an EBT during his time at Rangers. Both the SFA and SPL have launched investigations into Rangers’ conduct in the years since 1998, but there is no confidence within the Scottish soccer community that they will take any serious steps to deal with Rangers’ wrongdoing.
One thing Rangers cannot escape though, is financial reality. It finally caught up with them on 14th February when the club was placed into administration.
This is a UK legal term which basically means that a court-appointed team take over the running of the company. It prevents creditors from taking legal action against it, and the administrator must take steps to make the company profitable to ensure creditors are paid.
The administrators may seek to arrange a Company Voluntary Agreement (CVA) with the creditors. This requires the agreement of 76 percent of the creditors by value. It means that all creditors would accept a pennies-in-the-pound deal. Once they are paid, for example, 30p for every pound owed, the company can exit administration and emerge debt-free.
If the creditors do not agree a CVA and the company cannot pay them in full, it is then liquidated. All assets are sold off and the proceeds distributed evenly amongst the creditors. As the majority of Rangers’ debt is owed to HMRC, the chances of a CVA are unlikely. It is the policy of HMRC to reject CVA’s.
The most likely outcome for Rangers FC is that they will soon be liquidated. The club will cease to exist. Here’s where it gets interesting. The SPL yesterday published a set of proposed changes to their Financial Fair Play policy.
Amongst them, is a proposal to allow a club, on liquidation, being allowed to transfer their, “share,” or membership of the SPL, to a new company. This would mean that should Rangers be liquidated, their directors, or anyone else who wants to buy their stadium, training ground and players, can do so and be given Rangers’ place in the SPL.
Effectively, this would mean a debt-free company, called Rangers FC, playing in blue shirts at Ibrox Stadium next season, while HMRC and other creditors (Rangers are in debt to possibly as much as £134m) are left with nothing.
One of those creditors is Heart of Midlothian FC, from whom Rangers signed full-back Lee Wallace. They still owe £800,000, which is unlikely ever to be paid. Another is Rapid Vienna, from whom Rangers purchased Nikica Jelavic, whose goals were instrumental in their winning of the SPL last season. Rapid are still owed £1m, and despite Rangers selling him to Everton FC for £5m in January, Rapid are unlikely to ever see their money.
Effectively, the SPL propose to issue a cheats’ charter, and coincidentally I am sure, just as it looks like Rangers are to be liquidated. Nothing like this happened just four years ago when Gretna FC were liquidated.
Rangers FC is in serious danger of being liquidated because they have lived beyond their means for far too long, in the process distorting the market in Scotland.
It has abused the tax system to give itself an unfair sporting advantage over the rest of the clubs in the SPL.
It has bought players from other clubs it could not afford to pay for and had no intention of ever paying for.
And the Scottish sporting establishment, governing bodies and media, want everything possible to be done to facilitate Rangers, who have destroyed the sporting integrity of the Scottish game, escaping the consequences of their self-inflicted troubles.
To return to our doped up and physically damaged by self-inflicted wounds athlete, it appears that in Scotland at least, all the stops WOULD be pulled to ensure his continued participation in the sport.
We can’t allow the money-tap to be turned off, after all. Can we?
Actually eeh above is not quite true.
Campbell Ogilive received his 100k EBT payoff from Rangers upon leaving the club not while he was at it.
Hail Hail
Lubo’s Magic Boots, 15:38
Humble pie on the menu that night, I can guarantee
Awe Naw
No, he got a couple of £5K sweeteners in 2001 and 2003. And £80K when he resigned. Just because, like…
Lubo’s Magic Boots, 15:38
Followed by egg on face special
hen1rik on 12 April, 2012 at 15:33 said:
@alextomo: Been invited on Radio Clyde football phone-in. I hereby challenge every hack who doubted I’d been threatened to say it face to face live…
========
Any indication of the date? That will be worth a listen – an actual REAL jurno V LL apologists. Can’t wait.
TBB
according to the man himself ….and it was nothing to do with keeping him sweet as he is so sweet already.
What have you been up to. Noticeable by your absence !! ;-)
Hail Hail
oglach,15:54
Monday I think
is Thomson on tonights Clyde ?
and if aye, who is the panel, I would love to hear him up against Guidi cry baby
“dont you speak to me like that, who do you think your talking too”
From FF. They’re never exactly happy. Now it’s the end for Protestants:
“After they kill Rangers the apathetic Protestants in Scotland will not be safe.
Laugh if you will [Thanks, don’t mind if I do], but this isn’t a sporting matter far less a laughing one.
Today’s announcements have been planned and timed for maximum effect.
The point of this planning is strategic and it is aimed directly at Rangers Football Club in order to destroy it.
This is a huge step in a cultural war.
Not an opening shot, this is a fusillade aimed at the very heart of the Protestant Community.
Sure there are useful fools that will fall into line with the enemy and they will be cited as the reason that this should not be interpreted as part of a sectarian war, but these puppets merely mask and disguise the string pullers in this conflict.
Regan the Roman Catholic from England with no outstanding credentials to run Scottish football was placed in his position by manoeuvres engineered by men like Reid, Liewell and Desmond.
Other moves were then made to ensure that the puppet master Liewell would remain in arms length of Regan in order to make sure his obvious lack of nerve and intellect were not left exposed and that when leaning was required it would be at hand.
The SFA has fallen and so has the SPL.
Everything has clicked into place for our enemies and they are not going to let the chance to destroy us slip by.
Where Whyte stands in all of this I have no real idea, but I cannot believe he was just mere coincidence.
His appearance from nowhere and his subsequent elevation into the ownership of Rangers stinks.
We were told at the beginning he was a front for other people.
Now I am beginning to wonder.
However, when Rangers are gone, the last crumbling bastion of Scotland’s Protestant resistance will go with them.
The rest will be a simple matter of tidying up any pockets of resistance and rounding up the odd rabble rousers.
The new legislation in law is already in place to deal with them.
Wake up ffsake before it is too late; this is a war against you and your own and it will not stop when your football club has gone.”
I can’t see the shambles at the fabric of scottish society helping us recruit this summer. There is likely to be a big furore when Ftt trib results are announced one way or the other.
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 12 April, 2012 at 15:39 said:
Scottish Premier League: Is Doping Acceptable in Scottish Soccer?
By Daniel O’Connell (Contributor) on April 12, 2012
====
Jeez has he changed his name again. There am i thinking he was known as The Liberator, or The Emancipator. Must have been a bugger getting out of that huge edifice he has in Glasnevein. :-)
Hot day -way down south.
No to an SPL parachute for Quintessentially British FC .
No to any Hun Newco that doesn’t have to get down on it’s knees and beg to be allowed to start at the very bottom .
If anything else transpires then Scottish fitba is simply a Hun franchise where Celtic adopt the role of the junior partner in that rancid thing called The Old Firm..
NO NO NO CSC ——Way down south