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D&P: Rangers could cease before end of season

676

Lots to chew over in this afternoon’s statement from Duff and Phelps but this nugget grabbed my attention:

“If we proceed with an offer that is based on a sale of the business and assets, then we would expect the football club share to be transferred within a matter of weeks, with a preference of prior to the end of the current season.”

This means that unless a CVA is concluded beforehand, Duff and Phelps plan to ask the football authorities to award Rangers’ share in the SPL to a new club prior to the end of this season.  This share is worth money, Duff and Phelps would be able to sell it to generate cash, so there is no harm in them asking!

The enormous problem for the league is that the Newco would not employ any footballers and the final date in the season for signing non-contracted player passed a month ago.  Rangers players are employed by Rangers FC PLC and their registrations cannot be transferred to any other football club outside of a transfer window.

In the event of a liquidation (which Duff and Phelps have not accepted as a likelihood), player registrations revert to the SFA.  They are not assumed by a phoenix Newco to pick the following week.  There is absolutely no circumstances for a club to avoid liquidation and still manage to transfer their players to a Newco outside a transfer window.

How did they concoct such a fantasy?

This is a Fifa rule and cannot be altered by the SFA or SPL.  The entire debacle has become farcical.

SPL clubs, who vote on Friday on whether to introduce a procedure which would allow a Newco to be allowed straight into the league, have the proverbial gun pointing to their heads with this statement.  They must stand firm and refused to become embroiled in the mess.

The other SPL clubs and the SFA did not design this crisis at a member club and it is not their responsibility to resolve it.  We will find out soon enough whether member clubs take account of the overwhelming voice of their supporters on this matter.

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  1. “If we proceed with an offer that is based on a sale of the business and assets, then we would expect the football club share to be transferred within a matter of weeks, with a preference of prior to the end of the current season.”

     

     

    How can that happen?

     

     

    Are they seriously suggesting that the share currently held by Rangers FC PLC (in administraion) can be transferred to a Newco during the season? Does the Newco just continue playing as if nothing had happened, taking over the points gained by the Oldco?

  2. Neil canamalar Lennon hunskelper extrordinaire on

    The best outcome for Scotlands shame is for liquidation without investigation, all written records destroyed, is the only way they will walk away with any claim of dignity any ambiguity helps them.

  3. pabloh_AKA_NEIL LENNON on

    I remember may ’98 like it was yesterday. Me & my dad jumping around the living room like madmen when all we hoped for was a killie draw. Then being lucky enough to be at the st.J game. Someone asked earlier on if it was on the tv – no it was a Saturday 3pm ko. I still have my ticket, pretty sure it was £11, money well spent!!! I can’t imagine how hard it would have been to listen on the radio that day. I was 16 and it was the first time I seen the bhoys win the league, priceless!

  4. And let’s not forget this SPL Rule:

     

     

    “H5 If any Club in the League ceases to operate or to be member of the League for any reason, its playing record in the League may be expunged and the number of relegation places from the League shall be reduced accordingly.”

     

     

    The number of relegation places SHALL be reduced accordingly. No leeway there then. Reduced from 1 to 0. So Dunfermline are safe and the huns are gone. Ross County are promoted and we have our 12 SPL teams again.

     

     

    No space left for a Newco.

  5. From Previous short lived thread

     

    Teuchter ár lá on 23 April, 2012 at 15:30 said:

     

    I’d step away away from the coconut tree.

     

    Falling coconuts can inflict injuries which will render you incapable of taking your celebratory share of ice cream and jelly. (Jello in the states)

     

     

    ‘GG

  6. Pipped to the top ten! :(

     

     

    D&P are fair ripping the arse out of this now, didn’t they say on Friday that if the “Blue Knights who say No” didn’t make an offer they’d go with Miller; yet now they want more time? These guys are at it.

     

     

    They mUst thank their lucky stars that they can count on a MSM so sycophantic to all things Rangers that they’ll swallow any old pish and won’t dare point out the glaring contradictions, never mind the fact that our hero Mr Whyte has no intention of walking away! :)

     

     

    Hurry up and die Rangers.

  7. ฺสฟืะัพำษำอ says Good luck, farewell, goodbye on

    What if the authorities were telling D&P to delay the inevitable until after the derby game?

  8. Paul67 –

     

     

    “If we proceed with an offer that is based on a sale of the business and assets, then we would expect the football club share to be transferred within a matter of weeks, with a preference of prior to the end of the current season.”

     

     

    So not only are they saying they are not liquidating. They are saying NewCo will be in the SPL. NewCo will have OldCo’s players and points?

     

     

    So according to D&P you can buy history and points in the SPL?

     

     

    Excellent. Let’s not buy players then, let’s plough our transfer budget to the SPL and just buy points directly…..

  9. ibleedgreenandwhite1 on

    I would rather we concentrate on beating the Huns at Paradise instead of worrying what the Huns are doing!!

     

     

    Hail hail

  10. Paul67,

     

    is this statement from the administrators a boost for the huns,a

     

    kick in the haw maws or a nothing has really changed moment?

  11. Paul,

     

     

    The admins can’t sell the SPL share for big bucks.

     

     

    Our old friend article 14 (ii) of the SPL’s Articles of Association specifies:

     

     

    “that such notice should be issued by the Board and confirming the identity of the proposed transferee, transfer its Share to such other person as the Board shall direct at the price of £1”

     

     

    Unless they are going to amend that too, of course!

  12. ibleedgreenandwhite1 on 23 April, 2012 at 16:35 said:

     

    ”I would rather we concentrate on beating the Huns at Paradise”

     

     

     

    And how exactly does that work?

     

     

    Do we speculate on team selection and formation?

     

     

    Choice of strip?

     

     

    Discuss possible tactics?

     

     

    Recall previous games?

  13. Som mes que un club, open goal.

     

     

    ASonOfDan, aye.

     

     

    RogueLeader, fantasy stuff.

     

     

    gordybhoy64, this statement demonstrates how far off plan they are. Painful to watch.

     

     

    Gordon_J, no, but they are clearly planning to acquire the share into a Newco which they then sell for a higher value.

  14. Bobby Tait Moment…

     

    Was listening to the radio in the girlfriends ( now wife ) bedroom.

     

    Thinking him again, cheating stupid hurtin hun that he is.

     

    When all of a sudden Tait had his grassy knoll moment.

     

    As the girlfriend was in the living room talking to my now sister in law, for some reason thats where i headed.Dancing down the hall I finished with a forward roll into the middle of the living room ending with a riflemans pose…..have absolutely no idea were the celebration came from just totally lost it for a few seconds.

     

    Which all led to the following weekend nicely.

     

    I remember an older Irish fellow had the seat next to my gf against St J and as the whole upper tier bounced he worriedly asked ‘does this stand always move like this’

     

    My answer ‘ I dont know we’ve never won the league with this stand before’

     

    One of the best days ever as a Tim.

     

    Thank you bobby tait, ya cheatin hun chancer!!

  15. Correction to previous post.

     

     

    Should have read.

     

    ibleedgreenandwhite1 on 23 April, 2012 at 16:35 said:

     

     

    I would rather we concentrate on beating the Huns at Paradise instead of worrying what the Huns are doing!!

     

     

    Well said.

  16. quonno on 23 April, 2012 at 16:40 said:

     

     

    Well I reckon if you two concentrate hard enough we’re bound to win.

  17. Celtic Underground’s take on things:

     

     

    Celtic Underground ‏ @celticrumours Reply Retweet Favorite · Open

     

    No surprise but hearing D&P want out of RFC mess. They have only “scratched the surface” on their DD. “it’s a mess”.

     

     

    Celtic Underground ‏ @celticrumours Reply Retweet Favorite · Open

     

    Apparently they are asking for £500k deposit because they don’t see bidders as credible & they’re running out of cash in the job.

  18. Following on from ibleedgreenandwhite1’s note to stop worrying about huns and concentrate on winning sunday’s game, can I ask Neil Lennon, Alan Thompson, Johan Mjallby and all the Celtic players to stop lurking on CQN and get back to training.

     

     

    Good lads.

     

     

    Mort

  19. Sir Paul..

     

     

    Like Ah wrote.. a Few Days Ago.. oan Here..

     

     

    “This Whole Business that is Going oan.. concerning . Various Attempts at Saving the G.A…

     

     

    Is An “ABSURDITY”… wrapped in a “FARRAGO!”

     

     

    Well.. Mebbe, Ah didae Actually. Write That..

     

     

    But..

     

     

    Ah am ..

     

     

    NOO!!

     

     

    Kojo

     

    Still Laffin’ tae beat the Band.

  20. Paul67,

     

    hope i am not coming across as thick,but if they sell the share to

     

    a newco would rangers lose their seasons points and therefore

     

    be relegated?

  21. ibleedgreenandwhite1 on

    ernie lynch on 23 April, 2012 at 16:38 said:

     

    ibleedgreenandwhite1 on 23 April, 2012 at 16:35 said:

     

    ”I would rather we concentrate on beating the Huns at Paradise”

     

     

    And how exactly does that work?

     

     

    Do we speculate on team selection and formation?

     

     

    Choice of strip?

     

     

    Discuss possible tactics?

     

     

    Recall previous games?

     

     

    As usual Ernie you go for the over aggressive approach,,,,,no need for it IMO!!

     

     

    My mistake,,i thought this was Celtic quick news,,,where we talk about Celtic,i mean aren’t we playing our rivals this week at Paradise is that not worth a mention??

     

     

    But hey ho,,

     

     

    Hail hail

  22. rangers in such a mess Duff&Duffer don’t even think they will get their fee’s. Brilliant!

     

     

    Do us all a favour rangers in administration and just die…

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