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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sparkleghirl on 23 April, 2012 at 22:44 said:
Edinburgh jury?
S
meant to add: hahahahahahahahahahahahaha
Sorry £200,000 fine for Whitey…not that he’ll pay it unless he can borrow some cash…
I’m sure Criagy boy will be wiring that money to the SFA tomorrow morning!
In all seriousness, why on earth would he pay it? He is supposedly banned from any involvement in football in Scotland anyway.
If you include our Hero’s fine, £360k fine and 12 month transfer embargo…
Oh dear, there goes a sizeable chunk of the £500k from the BK…
I smell liquid…
Keep the Faith!
Hail Hail!
Craig Whyte banned for life – that’s harsh.
think censure is essentially meanlinngless. Knuckle rap.
tommytwiststommyturns on 23 April, 2012 at 22:33 said:
praecepta – couldn’t possibly argue with that. Could Rogne or Mulgrew be a young Maldini?!
___________________
Never red carded and had Maradona in his pocket!
Claudio Gentile
ahahahahah naw wait hahahahaha no no hahahaha
how they no banned fae the scottish cup
McTALL on 23 April, 2012 at 22:37 said:
Reads to me like a 160 grand fine and no signing players for a year, wonder if that will have any bearing on a NEWCO????
+++++
I think if they transfer the SPL share, and presumably by extension the SFA license, then it should.
rangers f.c in admin… guilty
Can we get a Celtic fans “Craigy Whyte” fighting fund to help him pay his fine? It’s the least we can do to show our appreciation for Our Hero. I pledge £5,000.
Arithmetic not my strongest, £260k but what is £100k when you have nothing…:)
Keep the Faith!
Hail Hail!
How many angels can dance on the head of a pin? Might as well ask the Duffers…they have answers to everything else.
Off subject for a mo. Just viewed news article on BBC1 on MI6 guy who was found dead in a hold all (padlocked) in his flat. Report states that police believe there was someone with him when he died!!!! No kiddin Sherlock……
My money’s on Debbie MacGee :)))))
The Honest Cover-up
Love it – £100 pledged
The Honest Cover-up on 23 April, 2012 at 22:47 said:
You’ll need to setup up something much better. think the RST have a pledge website doing nothing we could borrow. Then all the big benefactors could get some nice anonymous pledges in.
Mine is £10k plus gift aid.
S
Well done The Young Hoops!
Well they did want some clarity, didn’t they?
Now we need the big tax case outcome and everything will be perfectly clear.
hahaha – that’s FF crashed hahaha get up ye ya dirty cheats
Dirty, yeah that would make sense, just can’t help thinking that, this is the SFA saying look we did something !!! knowing a NEWCO is inevitable and that it won’t effect a new version of the orcs.
the honest cover-up. brilliant.
how funny would it be if we could raise that and pay the mbbgefakacw’s fine just like that while their fighting fund is sitting there to be used for …….
answers on a postcard
Sanna
shame on them
Jude – Winston always has the best lines, but Naveed is briliant.
“desert island dicks….”!
T4
Happy St Georges Day everyone – looks like the dragon got slayed again
Perhaps McMoist got wind of this decision a few days ago when he predicted they would have an u19 team next year.
Really sorry for them. Not.
I was right the first time, £360k for their Whyte Knight and them.
Keep the Faith!
Hail Hail!
TTTT , CRC , MWD , Kingoh , how about a Sending Craigy Home campaign ?
Grant Russell @STVGrant Reply Retweet Favorite · Open
Those asking if punishment would apply to any Rangers newco. Answer is yes if SFA allow club’s membership to transfer.
Retweeted by tricia*
Is this indicative of a liquidation? The SFA could impose a 20 year ban if they like but, if there is a Newco, it may not apply to them. Regardless, still interesting times.
Ahhh.
(contentedly sipping some red wine)
Final nail in the coffin driven in by the SFA.
Who da thunk it?
STV just catching up on the news now … CQN ahead of them yet again.
Did Ye Hear this wan?
Well Ah jist did..
So…. Widya think o’ it???
Here is a List of Whytie’s Demands.. tae be met, by the Preferred Bidder…
and If They are NO..
Then , Whytie’s gonna tak away his Ba’ and Go Hame!
Here ur Whytie’s Stipulations…
Ticketus, tae agree tae enter intaE No Legal Recourse, agin Him..oan the Transference of Shares tae the Winning Bidder.
A Shareholding,comprising o’…20 TAE 25 per cent o’ the Shares ,tae remain in the Whyte…”Family”(?)
A LifeTIme Membership as a Non Executive Director , for, Whytie
Whyties, dealings in his Takeover, and during the Last 12 Months , tae be fully Exonerated ,by whomsoever Takes over the Club.
So Howdya Like Dem Apples??
Huh?
Nae wonder , Duffer, Dufferer adn Dufferest..
canny get any o’ thur present corps of Bidders tae
mak a….. well… SERIOUS BID fur the club.
Tell me.. if whit Ah hiv fun oot . concerning Whyties’ Demands which must be met.. afore he wull Talk Turkey.
.Is,in fact…. Trew..
Then…
There is a Much chance of Any of the Present Number of Bidders, making a Serious Bid fur this Turkey…
as..
Well..
Every single Wan of The Inhabitants of Turkeydom..
Voting fur Christmas!
Kojo
Really Hivin a Laugh.. Noo..
Pardon my ignorance but what were the charges against Rangers? Not the dual contract issue?
I see they get 12 months to pay the fines but wee CW gets 30 days.
Craig Whyte statue at Celtic Park!
Can these fines be taken out of the prize money the SPL is due to advance them to tide them over until the end of the season?
I may never see the answer to this. it’s way past my bedtime.
so do these fines/transfer sanctions remove Mad Windy Miller from the ‘kid on’ bidding process?
I suspect the American investor will walk away now? Oh dear, he had the potential to be a source of entertainment for years to come.