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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alex thomson @alextomo Reply Retweet Favorite · Open
Absolutely incredible – RFC administrator seriously blaming CW for “bringing Rangers into disrepute”. Thus ignoring the EBT years..
alex thomson @alextomo Reply Retweet Favorite · Open
This will play seriously badly with HMRC I’m being told
Noramlly my paranoia would lead me to think these sanctions will be revised on appeal. Duff and Phelps already leading the “it was Craig Whtyte’s fault. Don’t punish the club” line.
Pathetic. The club have benefited from not paying PAYE or NI all season. Celtic, Motherwell, Aberdeen etc haven’t enjoyed this luxury. If they had lived within their means there is no way they would be competing for second place.
At least this should signal the end of the Bill Miller fantasy.
Blue Knights, it’s over to you. Show your £500k deposit or “walk away”.
What will play seriously badly? The fines and sanctions? Or D&P reaction?
HH
the humiliation for the self righteous peepel is fantastic..
Time to strip Minty of his knighthood …
McTALL on 23 April, 2012 at 23:09 said:
another question would that mean Aluko, who’s contract expires at the end of the season not be able to sign for them again??
+++++
An orc just posted the same question on RM before it finally melted a few moments ago.
Short answer is in this extract:
registration with the Scottish FA of any player not currently with the club
Shauny O’luko is currently with the club.
Shorter answer is: yes they can sign him.
Celtic_First on 23 April, 2012 at 23:10 said:
That just caused me to spit my water onto screen laughing.
Roddy Hart on Radio Scotland has just played Springsteins new CD called Wrecking Ball and compared it to whats going on at doom-domb. “What a mess” were his words!!
sparkleghirl – D&P consistently air brushing the EBTs out of the history. HMRC not pleased about it
Speaking about the punishment, Whyte said: “Tell me how it is going to affect me? I couldn’t care less. It makes no difference to my life whatsoever – and good luck collecting the money.
Ah hope that awe the Carpers and Complainents oan here, who hiv fur the Past.. Umpteen Seasons..
Viciously,Excoriated, the CELTIC BOARD of Directors..including..
our Present C.E.O. in Oft Times, Extremely Harsh Criticism,pertaining tae Their Handlin’ of oor Beloved Club, during thur Stewardship..
Pey Attenshun.. tae Whit is Noo Happening, Tae oor Hated Rivals.. because of the Lax and Inefficient Manner, with which
the G.A.s .. Board of Directors And C.E.O.
conducted . Their Stewardship of Their Club.
Ur.. Man or Ladee , enuff tae Mutter…
“But, fur the Grace of God..( And the Celtic Board) Go We…”
Never a Trewer Woid wiz Spoken..
Kojo
Still, Laffin’, and Laffi’, and.. Laffin’
Are Duff and Phelps serious with this comment or are they actually 2 hash smoking tims who are having a laugh while helping Comrade (Green and) Whyte run the Forces of Darkness into the ground.
“During this hearing the Club produced compelling evidence from a number of sources that following his takeover, Craig Whyte ran the Club in a thoroughly unaccountable manner, rather than adhering to a long-established and proper form of corporate governance.”
So tell us about this long established and proper form of governance that used to go on before that dastardly Mr Whyte then
Oh this is just so good it can’t possibly be true.
Any RFC not in SPL will lose players. Can’t sign more. Celtic First might well be right. ·3rd division and down through the trapdoor.
Even with this verdict on Agent Whyte tonight ; this should not exclude him from entering the SFA Hall of Fame. He has single handedly done more for the good of the game in scotland in less than a year than Ernie Walker, Jim Farry, George Peat and Campbell Ogilvie have done in a lifetime.
Looks like D&D are appealing which will give them even MORE billable hours for the foreseeable future. Can just see them with the big calculator with the roll of printout paper whizzing out. They – like us – are loving it!
Mock horror fae Duff & Duffer. IMO
HH
Ps I used to hate Mondays!
Duff and Phelps, joint administrators of Rangers Football Club, issued the following statement on the outcome of the SFA disciplinary hearing.
Paul Clark, joint administrator, said: “All of us working on behalf of the Club are utterly shocked and dismayed by the draconian sanctions imposed on Rangers in respect of these charges.
“It appears that on one hand the disciplinary panel accepted our central argument that responsibility for bringing the Club into disrepute lay with the actions of one individual – Craig Whyte – as is evident from the unprecedented punishment meted out to him.
“During this hearing the Club produced compelling evidence from a number of sources that following his takeover, Craig Whyte ran the Club in a thoroughly unaccountable manner, rather than adhering to a long-established and proper form of corporate governance.
“The thrust of the charges against the Club focused on non-payment of payroll taxes and evidence was produced that all such decisions in this area were taken by Craig Whyte during his tenure.
“Given this evidence, it is difficult to comprehend that the disciplinary panel has seen fit to effectively punish the Club even more heavily than Mr Whyte. As everyone knows, it has already been decided he is not a fit and proper person to run a football club and any further punishment on him will have little or no impact.
“However, for Rangers, a ban on signing players will seriously undermine the Club’s efforts to rebuild after being rendered insolvent.
“Furthermore, we do not know how bidders for the Club will react to these sanctions and what affect they will have on their proposals.
“The Club has asked for full written reasons for these decisions and intend to appeal against the findings.”
just a tweeter ,
but i heard them there huns might have a little problem with the bills.
dont pass it on, probably just made up rubbish.
but tmorrow
tmorrow
i luvs yas
tmorrow
its only a day away
Is it any wonder ?
From FF
Coisty09
Don’t buy the Rhebel
Join Date: 31-07-2006
Posts: 651
Enough is Enough
Liquidate the bloody club and leave the shitehole that is Scotland forever.
How can such a corrupt body run a sport.
Crooks and bigots in charge at SFA. Now it is totally clear.
They can all feck off. If any fan of Rangers goes to another away game, they need their head tested.
I keep looking for the downside to this judgement but it’s not obvious. Will keep looking.
lucky cody on 23 April, 2012 at 23:17 said:
Even with this verdict on Agent Whyte tonight ; this should not exclude him from entering the SFA Hall of Fame. He has single handedly done more for the good of the game in scotland in less than a year than Ernie Walker, Jim Farry, George Peat and Campbell Ogilvie have done in a lifetime.
+++++
Although, it must be said that those, erm, gentlemen put down much of the groundwork for Whyte. A team effort if it pleases you.
High fives all round.
Hail hail and Cheerio ……
Huns banned from singing for 12 months!!! Finally.
Until we meet again…
Keep the Faith!
Hail Hail!
The price for “OurHero” to sell just went up :))))))))
Goodnight Timland
HAIL HAIL
Oh I pity the team that has to host that motley bunch, so much flotsam and jetsam of the very worst dregs of society.
I can only hope they’re heavily insured.
:-(
I can’t help a sneaking suspicion (nay, a fervent hope) that far from being a Celtic fan, CW is actually an embittered Airdrie fan.
I for one will hold off celebrating this decision for the time being.
Rangers (IA) will have a right of appeal I presume.
Sorry to be cynical but I’m guessing the penalty will be reduced or even suspended for a period of time.
I do not trust the SFA and always suspect ulterior motives.
So what happens when Whyte doesn’t pay up?
They say 7 days is a long time in football but I wonder were we will all be in 30 days time?
Oh aye just awaiting D&P annoucing their preferred bidder.
If o/looka signs again how much is it gonnae cost the laddy??
I wonder what odds the bookies will give on ‘Hello, hello’ getting pelters on Sunday. They’ve got sod all to lose now.
A sleepness night for McMoisty perhaps? A Question of Sport suddenly looks a lot more appealing for him (although this is a lot funnier for me!!!!)
CREDIT WHERE CREDIT IS DUE ……THE SFA HAVE DONE THEIR JOB HERE, WITHOUT FEAR OR FAVOUR……..AND THIS ‘JUSTICE’ WILL NOW , FINALLY, BRING THIS NONSENSE TO CLOSURE….
LIQUIDATION, SALE OF ASSETS, WHICH WILL ENSURE CREDITORS GET ‘SOMETHING’
BYE BYE, SCOTLAND’S SHAME
CELTIC, AND ALL OTHER SPL CLUBS, WILL NOT BE ABLE TO RECOUP THEIR ‘LOSSES’, BUILT UP OVER THE PAST 15 YEARS, BUT WE RETAIN OUR HONOUR AND SPORTING ETHIC…..
Just for fun.
Two of our Celts should play with Duff n Phelps on their shirts..
” … And it’s Phelps with a superb strike!! ” can hear it now..
Happy Days
I haven’t studied the judgement in depth yet due to uncontrollable laughter mainly.
But my initial reaction is that they have only one option left. Liquidate, forget all the Zombie or incubator stuff and start a genuinely brand new club from scratch.
jude2005 is Neil Lennon \o/ on 23 April, 2012 at 23:24 said:
If o/looka signs again how much is it gonnae cost the laddy??
——————————–
Not sure if he’d be allowed to now! ;-))))
McTALL on 23 April, 2012 at 23:09 said:
another question would that mean Aluko, who’s contract expires at the end of the season not be able to sign for them again??
+++++
An orc just posted the same question on RM before it finally melted a few moments ago.
Short answer is in this extract:
registration with the Scottish FA of any player not currently with the club
Shauny O’luko is currently with the club.
Shorter answer is: yes they can sign him.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
I would have thought that at the end of the season Aluko will be out of contract and therefore no longer ‘currently with the club’. Rangers would be offering a NEW contract (to effectively a NEW employee) and not an extension to an existing contract.Surely that means he can’t be re-signed.
Starryhope
They’ll be coming to wreck the stadium on Sunday.
http://i39.tinypic.com/1hcsup.gif
Enjoy.