In three months Duff and Phelps have not made an inch of progress on the key issue, the Only Show in Town, Craig Whyte, who has security over the stadium and Murray Park is extremely likely to inhibit any attempt to dispose of these assets against his will.
Without a stadium the SFA and SPL cannot licence and admit a football club. While Duff and Phelps may have preferred the SPL to negotiate directly with the owner of Newco (once he was appointed), they were not in a position to ask the SPL for admittance yesterday without a stadium – perhaps a more practical explanation as to why they didn’t attend yesterday’s meeting.
Now that a CVA has finally been acknowledged as undeliverable, players will leave Rangers after Sunday’s visit to St Johnstone as free agents. There will be no Newco on hand to offer them a new deal. Those who can, will find employment elsewhere. This will be more than just the headline players, I know youth players at all levels have been scouted by clubs across Scotland and England. The chance to scoop up another club’s prime youth talent for free will not be passed up.
Getting a deal done this week with the SPL, the SFA, Bill Miller and the players would have allowed Duff and Phelps to maintain continuity, with Newco taking over for Sunday’s game. This will not now happen. The finger Duff and Phelps placed in the dyke back in February is set to slip.
Staff who cannot find employment elsewhere will remain at Rangers until 31 May. If Duff and Phelps sell ‘the club’ before that date, players who want to transfer to Newco can do so under TUPE regulations, which maintains their pay and conditions, however, they will be unable to transfer their player registrations until Newco is a licenced football club (which is dependent on SFA approval, which in turn will indirectly be dependent on Craig Whyte disposing of the stadium).
Duff and Phelps have no money to fund Rangers FC after 31 May, so must sell all assets before that date or the padlocks will go onto Ibrox and Murray Park. Yesterday was their last best chance to pull a deliverable deal together.
The fact Duff and Phelps didn’t even turn up to the meeting, and yesterday evening Neil Doncaster told Radio Scotland they didn’t return his calls when he phoned to ask why, indicates how on-target plans are.
Incredibly, I read one newspaper today suggested ‘Rangers [were]to benefit from SPL delay’. Where there’s life, there’s hope, I suppose. Somehow I cannot see Duff and Phelps’ Clark and Whitehouse high-fiving at the prospect of withdrawing from yesterday’s meeting. It is more likely that an undignified disintegration of a football club is set to take place in the weeks to come.
On a separate note: Just when Duff and Phelps would have presented Craig Whyte with a take-it-or-leave-it offer for all his assets, Brian Kennedy nips in as a second potential bidder for the stadium. Unless Kennedy is putting more skin on the table than Bill Miller all he is doing is fortifying Whyte’s negotiating position.
You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.
The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.
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pedrocaravanachio67
That’ll be a Panorama ” I was duped we were all duped ” Special Edition
Livibhoy
Kanchelskis was signed from Fiorentina not Everton
Hail Hail
Norway, Finland and the Netherlands have received extra berths in qualifying for the Europa League based on UEFA’s fair play rankings.
UEFA said on Tuesday that Norway topped the rankings, followed by the other two countries.
The nations are now able to nominate the club that received the fewest red and yellow cards. If that club has already qualified for a European competition, the second-placed team will be able to enter, and so forth.
The three clubs will enter the first round of Europa League qualifying next season.
LiviBhoy
I worked in Livi for 6 years, not too bad its the hick towns and villages round about that are scary lol
Awe_Naw No Another Newco On Anaw Noo
Does Blackridge still have the sign as you enter saying “Balckridge – a handgun-free village”? I don;t recall seeing it last time I sped through…
Between ‘Crime Watch’ and’Panorama’ over the years the japes and scrapes of the ole cash strapped scrofulous Hillbillies have been a tremendous boon to investigative journalism in Britain.
Well, the English bit of Britain anyway.
BSR
that´s where about 4 languages and 31 dialects cross. I have never understood how they manage it.
Hail Hail
Awe_Naw
Cool, – I’ll stick on Naw to Newco
cardiffbhoy
I have met the guy and he was sound but he does tread the same route as others on the TV.
AweNaw
Wasn’t me that mentioned Kanchelskis.
The Laddy McGeary
Wouldn’t recommend anyone to live in Livi but it was a decent place to grow up. Plenty fresh air and wide open spaces.
LB
bournesouprecipe
your being panoramaniod !!
I think it’s the Mark Daly piece re EBT’s that people have been talking about on here.
forgive the pun, but apparently SDM disnae have a leg to stand on.
Livibhoy ooops sorry !!!
It was BRTH
Hail Hail
cardiffbhoy on 8 May, 2012 at 15:54 said:
a wee bit of humour to the story.
told it many times, but will roll it out again just for the laughs.
—————————————————————————–
My granny, and McCanns granny were best mates.
Grew up together throught the 20’s and 30s.
Went to mass together, every single day, at Saint Johns.
And went to the bingo together.
I used to stay at my grannies at the weekend, and from the top floor flat, my grannie could see Maisie (i think that was the name but cant remember) leave her house, and go down the close to wait on her, and off they would go.
My grannies kitchen was the place to report into when you visited.
One day I went in, and rather than questions about what vestmens did the priest have on, did you get a game for the school or did you see that bad John Greig on the tv, there was nothing, all quiet.
I plucked up the courage to ask
“whats wrong Grannie”
“och, it Maisie, its terrible terrible for her, just terrible”
oh no, i though she is ill or worse , might be deid.
whats up ?
“that grandson of hers has gone and signed for Rangers”
bournesouprecipe on 8 May, 2012 at 15:44 said:“Football is a game before being a product, a sport before being a market, a show before being a business.” © UEFA
Could be a banner for the Green Brigade?
GiggsyBhoy on 8 May, 2012 at 15:37 said:
Cool mate going with the wife mid June. I must have read your post wrong. Republic play when I’m over so looking for a few good nights oot.
. Karl-Heinz Rummenigge has stated that Chelsea are one of the teams that will struggle to meet Uefa’s Financial Fair Play criteria, despite club owner Roman Abramovich’s more cautious approach in recent years.
The Bayern Munich CEO believes that the Premier League side will not be able to break even, unlike Spanish powerhouses Barcelona and Real Madrid.
It is no secret that 60 per cent of professional European football clubs are in the red. What I do know is that Chelsea would not meet the criteria of Financial Fair Play today,” Rummenigge stated to Abendzeitung.
“He [Abramovich] is completely likeable – and not the kind to appear cocky or arrogant. He is more cautious [than other comparable owners].
“Real Madrid [will] break even, Barcelona [will] break even.”
The Laddy McGeary on 8 May, 2012 at 15:56 said:
I worked in Motorola in Bathgate for nearly ten years and had plenty of good nights out in those places, but I was always with a local. I was always aware though that being a Tim, I was in the minority.
Fauldhouse miners was an experience.
Ole Hugh McDonald been on CQN again?
THIS is an omnishambles.
Consideration of the very future of the Scottish Premier League has been postponed to the end of the month. Do not expect a definitive decision then. The SPL and its chief executive will sit in the dock facing hostile public opinion this morning but Neil Doncaster’s admission that he and the clubs are “on the sidelines” regarding the unfolding saga of Rangers was as truthful as it was unacceptable to the mass of Scottish support expecting clarity from yesterday’s meeting.
The shambles cannot be laid at the door of the SPL. This is an organisation that now has to walk carefully through perilous territory.
In order of no particular importance, Rangers face an inquiry over payments to players by the SPL, are appealing sanctions imposed by the Scottish Football Association and are facing the outcome of a tax case. Any definitive answer on financial fair play yesterday may have been premature and subject to legal challenge.
The delay gives Bill Miller, the US tycoon, more time to construct his newco and Doncaster’s answers on this move were the most revealing on a day when clarity was at a premium.
On sanctions against a new company, he said: “In the ordinary course of events, a newco would come in without penalties unless any are agreed to come with it.”
This opens the door for a newco Rangers to march back into the SPL with hardly a financial bruise, far less the 10-point penalties of reductions in financial rights that have been proposed. This apparent softening in attitude may have been induced by independent legal advice allegedly offered to the SPL. Reports that a QC had told the body that any sanctions could be illegal appeared in Sunday newspapers.
“I don’t think it is appropriate to comment on any legal advice that may or may not have been received by the board,” said Doncaster yesterday. This is very far short of a denial.
His insistence of the almost non-existence of a difference between a newco and administration heightened the impression that the way is becoming clearer for Rangers to stay in the SPL in another form. The move to remove the decision from the SPL board is further evidence that obstacles to Rangers are being dismantled. Rangers now need five clubs to oppose their membership of the SPL as the newco vote will be taken on the basis of an 8-4 verdict being sufficient. It would be difficult indeed to imagine five clubs barring the way.
The removal of the onus of making a decision from the board was explained by Doncaster who said the clubs on the board would “find themselves in a very difficult position”. He added: “Against that backdrop, all 11 clubs felt the right and appropriate thing to do was for the clubs in the general meeting to make a decision on the matter. It was raised by someone who is not on the board.”
The board members are Derek Weir of Motherwell, Steve Brown of St Johnstone, Stephen Thompson of Dundee United and Eric Riley of Celtic, plus Doncaster and Ralph Topping, the SPL chairman.
Doncaster, who could make no predictions about when the SPL inquiry into alleged dual payments would be finalised, was also far from clear about what would be expected of a prospective owner.
“Whatever application comes in from Bill Miller or any other bidder for a transfer of the share, there may be certain undertakings that bidder is prepared to give. The board or the members will have to consider the whole package and that is what we will do. I don’t want to speculate on that.”
One problem for Doncaster and the SPL is that Rangers are now driving the process. The adjournment yesterday came as a direct result of a request from the administrators, Duff & Phelps. “They expressed a view that any new owner of Rangers should be involved in discussing these issues,” he said.
The chief executive simply cannot have a timeline over what sanctions, possibly none, that will be imposed on Rangers and on when a vote can be taken to allow a newco into the league. The SPL must simply wait on an application to come, whenever.
This places Scottish football in limbo. The television deal with Sky is still unsigned, fixtures for next season have to be arranged and the mass of football fans have still to decide whether to renew season tickets.
Doncaster conceded that there was a large constituency of fans who wanted severe sanctions taken against Rangers, including those who opposed any election of a newco to the SPL. “It is a very emotive issue and I have spoken to a lot of people, including lots of supporters, about the situation,” he said. He was at pains to stress that “sporting integrity”‘ was “very, very important” but a clearer hint to his thinking may have been the observation that owners were “concerned with the survival of their clubs”.
He was adamant that no assurances had been given to Miller over sanctions that may or may not be imposed, adding: “I have had one conversation with Bill Miller, which was around a fortnight ago. That was not a direct conversation. It was a call he was involved in.”
The somewhat weary verdict of Doncaster, who had been involved in talks for five and a half hours yesterday, was: “We are where we are.”
To which the only reply the fan can give is: “Yes, but where are we?”
gorbalstam
Did you ever know a guy called Ken Hush ?
Hail Hail
LiviBhoy on 8 May, 2012 at 16:00 said:
My son was born in St Johns in Livi 13 years ago.
I talk to him now though.
big fat Andy the pigeon fancier and dug racer from Fauldhouse knocked my front tooth out in Module 3 IBM back in 1990 ish.
sneaked up on me and knocked me out
At the player of the year bash on Sunday ex-hun Jonathan Johansson was presenting one of the awards. Compere Peter ‘Martin’ McGuire complimented JJ on his smart clobber and suntanned appearance, adding: “you’ve obviously put your EBT to good use”.
Cue nervous laughter from JJ.
Bada
Apparently (haven’t checked myself) – it’s an extract from the UEFA core values (ツ)
‘Paddy Can You Spare A Dime?’
http://www.youtube.com/watch?v=KWKoWmnwNyo&feature=youtube_gdata_player
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 8 May, 2012 at 16:05 said:
Pretty distinctive name and it rings a bell. Would he be in his late 40s now, or older? More importantly was he management?
Its all very well ensuring that your in the presence of a local when drinking these places, but as soon as someone notices your eyes arent deeply set into the back of your skull, your ears arent protruding and you dont walk with a limp the games a bogey really,
there is no hiding place.
what about the picturesque Stonehouse?
now theres a place thats ever welcoming.
With just one game to go in this season’s Scottish Premier League, teams are running out of time to ward off the possibility of holding the worst disciplinary record this campaign.
As they have done for large spells, Hibernian sit atop the crime count table, with Rangers in close attention. Inverness CT, St Johnstone, Hearts, Aberdeen and St Mirren aren’t out of danger yet, although it would take a late flurry to see them saddled with the unwanted accolade.
SPL DISCIPLINARY LEAGUE TABLE
Each club’s current card count is used to form the SPL disciplinary league table. One point is given for every yellow card, while two points are attributed to each red card.
Club Yellow Red Total
Hibernian 78 2 82
Rangers 67 6 79
Inverness CT 63 6 75
St Johnstone 70 2 74
Hearts 65 4 73
Aberdeen 62 5 72
St Mirren 66 3 72
Motherwell 58 4 66
Dunfermline 58 2 62
Kilmarnock 51 3 57
Dundee United 45 1 47
Celtic 31 4 39
Saint Stivs on 8 May, 2012 at 16:07 said:
He told me it was a fair fight.
Lennon’s Passion
We considered that time of year because of the Euro’s, will be electric then! But I can’t get time off during the months of June/July because of school holidays etc (the wummin wae weans take precedence!!). I actually love the place, and if I had the cash, would have a base there. Usually frequent Sean’s Place, Dicey’s, Dubliner etc. Just a great wee town all in. Cannot wait to get it booked!
HH
Giggs
Che on 8 May, 2012 at 16:10 said:
I know (think) you say that with tongue in cheek but I did feel that they could tell that I wasn’t one of them. Maybe we are paranoid after all.
bourne- a fuller version of the UEFA mantra was posted earlier,with that extract in it HH.
Easy end to all this : just boot them out of football altogether. End of.
Never mind The Sword of Damocles. Use The Gordian Knot solution.
gorbalstam
Yeah I imagine he would be he was a principal enterprise architect
I knew him from Motorola in Mainz. We played in the same fitba team for about 5 years
When he left Bathgate for Chicago.
He was from Kelso and was married to Maria.
He died just over a year ago from bowel cancer
Hail Hail
Rangers administrators help police
(UKPA) – 2 hours ago
The administrators at Rangers have said they are “co-operating” with Strathclyde Police about inquiries into the takeover of the club by Craig Whyte last year.
In a statement issued by Duff and Phelps, they said they were aware of media reports that “referred to police interest” in the circumstances of the takeover in May 2011.
Mr Whyte’s lawyers Collyer Bristow are already facing court action at the hands of the administrators after being accused of deliberately deceiving the club during the Motherwell-born businessman’s takeover.
David Whitehouse, joint administrator, said that the administrators understood that it had not yet been decided whether any investigation would be the responsibility of Strathclyde Police or the Metropolitan Police.
He said: “An impression has been given that we as administrators are in possession of information which may be of interest to the police but, to date, we have not provided.
“Since being appointed administrators in February, we have had a number of meetings with Strathclyde Police and are co-operating fully with them. At no time has any request for information from the police been denied nor delayed in any way.
“It goes without saying that any information in relation to these matters is available to the police. As far as we are aware, a decision has yet to be taken by the police authorities whether an investigation would fall within the jurisdiction of Strathclyde Police or the Metropolitan Police.
“We look forward to that decision being made and will co-operate fully with any investigation. It should also be noted that we have instigated civil proceedings at the High Court in London in relation to the takeover of Rangers.”
Rangers went into administration in February after Her Majesty’s Revenue and Customs lodged a petition over the non-payment of about £9 million PAYE and VAT since Mr Whyte’s 2011 takeover. It later emerged that the Glasgow club’s £18 million bank debt was paid off with future season-ticket money from Ticketus.
Last month, the club were handed a £160,000 fine and 12-month embargo on registering players aged over 17 after being found guilty of five charges in relation to their finances and the appointment of Craig Whyte as chairman by a Scottish Football Association judicial panel
Awe Naw
I stand corrected on Kanchelskis and bow to your greater authority and knowledge on the ins and outs of the Rangers signings.
I thought he had come from Everton…. anywhich way he was a shadow of the player at Man Utd
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 8 May, 2012 at 16:05 said:
gorbalstam
Did you ever know a guy called Ken Hush ?
————————————————————–
Was that no a Carpenters song?
‘This places Scottish football in limbo’, it’s certainly giving me an idea of how time passes in purgatory.
Natknow
I’m sure I paid for mine last time !.