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.
Pay your bills!
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Art of War on 23 April, 2012 at 20:43 said:
Signed and delivered, good idea Mate..
7-0
7-0 McGregor
7-0
7 mcgregor
7-0 mcgregor
WestHam drawing 1-1. If they dont win Southampton promoted.
7.0. Callum McGregor’s second of the game.
Willie McStay says Dylan is coming off because he’s going to be involved at the weekend.
Magnificent 7 ;-)
Just Cant Get Enough playing over tannoy too lol
HH
mcgeouch coming off, saving him for sunday
ElDiegoBhoy
Whita and green parrot. He is going to be first one leg player playing for Celtic.
TET
I don’t know if he is going to play against Zaglebie this weekend but interesting game to watch him.
Does my memory serve me well and one eye German International was Kalz?
3,707 attendance at Hampden.
more than about 32 leage clubs get at home games.
That’s Dylan involved at the weekend. Not Willie.
Praecepta & Starry – cheers! Need to get a right few signatures tho.
HH
yeh 7-0
Callum with his second
hope Bahrudin gets one
called broony, for short
St Stivs. I was just thinking that.
If there was a Celtic team playing seven nights a week, somewhere in west-central Scotland, a crowd would turn up.
Well done to the young hoops and also the management team and all at lennoxtown hh
Art of War on 23 April, 2012 at 21:03 said:
Put it up on Twitter and Facebook…
T4,Bundoran Bhoy-I got a text saying he ruptured his cruciate but i would go with Z on what he has posted.
johann murdoch on 23 April, 2012 at 21:03 said:
Well done to the young hoops and also the management team and all at lennoxtown hh
+++++
It’s not over yet, steady on.
lurgan57 on 23 April, 2012 at 20:57 said:
============================
Was the hertz game away at the end of the 1998 season the one where the ref played 5 non minutes extra and Jose Quitongo scored a late equaliser. Blatant cheating at its finest. The one and only game that I lost it and the neighbours heard a good rendition of the rebs that night.
HH
Lads just logged in so apologies if this has been posted but this is an absolute joke and something needs to be done about it.
@MaleysBhoys: As Celtic make it 6-0, have a look at the no of police in front of the GB. Supporting a football team isn’t a crime. http://t.co/nPOrysKy
;-)
On the CVA thing – I realize that it’s difficult to keep track of exactly what is owed and how many tax cases are running – but don’t they also owe HM Govt. another £15Million in addition to the ‘wee tax case’ due to non-payment of VAT, PAYE, NIC’s ?
And if so, does that not mean that HMRC would have enough owed to block any CVA even without the ‘big tax case’.
P.S. Why so long to deliver the big tax case tribunal verdict? That is certainly the one that will drive the final nail into the coffin. Are they trying to arrange change of identity and plastic surgery for the tribunal panel before the verdict is delivered?
Starry, i can do Facebook. Twitter a different matter. Haven’t ventured into it yet but will have a look. Cheers for tip!
HH
2-1 WestHam.
A Son of Dan- I thought it was a done deal for the Polish bhoy?
Art of War on 23 April, 2012 at 21:03 said:
Me to.
bsr
A lot of Woolworths are now £1 shops. Strange that eh??
Cheers voguepunter! Hopefully get a wee bit o’ momentum.
HH
TTTT
We are first but second team is with one point less, third two points less, fourth and fifth five points less. Three games to play. We lost last Saturday against Lech Poznan. Lech made one two attempts on our goal but scored the only goal. Most of the play was on their half. Very one sided game but we lost.
Hen1rik
Nowt commin up.
All pre contracts are subject to medical.
HH
another pen to hoops
Penalty to the young hoops
BRT&H
You feel a big bit inadequate,when you
see the bravery of these kids,and the
boy in the wheelchair busting a gut
to make a difference.
Another penalty to Celtic.
Are there not enough masons around to cover the youth games too ;-)
8-0, McGregor hat-trick