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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Alasdair Lamont @BBCAlLamont Reply Retweet Favorite · Open
CW says Stewart Regan and Campbell Ogilvie told him over dinner in November there wouldn’t be a problem. Says this is reaction to publicity
Retweeted by James Doleman
Oh its great fun over at Rangersmedia Forum but they arent all stupid ye know,
what about this rather incisive comment
Can anyone tell me why Campbell Ogilvie, now President of the SFA, can punish RFC when part of this whole mess re EBTs etc were executed when HE was Company Secretary of RFC (and as such would have known EVERYthing that went on). Isn’t that like doing the crime then declaring yourself guilty years later..?
Chaplin – thanks for that, made me laugh out loud!
I’m gonna look like the Joker fae Batman if i can’t stop grinnin’.
HH
Some guy called Craig Whyte is trending in Glasgow on Twitter. Anyone know anything about it?
This now means there is nothing for the bidders to raise from the flames.
It is all over. Bring out the Fat Lady she has a song to sing…….YNWA……..a.golden light…
Cultsbhoy
Ur taking that a bit far now!!!
new article posted.
I wonder if the SFA punishment will embolden the SPL to speed up their own investigation on the two contracts.
The End is nigh
HH
this sundays game is a worry for me in the sense that i can see them causing mayhem in and around the stadium
If CW has ANY evidence of what was discussed with Regan and Ogilvie over dinner there could be further repercussions.
Still can’t find the downside ;-)
is aluko`s contract held by rangers or a third party ie aluko himself mmmmm
The News just keeps Gettin’ Bettah and Bettah!
Jist when Wan Door Closes , fur the G.A.
Anither Wan..
Bangs…. Right…. in thur Face!!
Gotta Go..
Good Night Scotland
Good Night Ireland
Good Night Wales
Good Night England
Good Night Canada
Good Night New Zealaland
Good Night Australia.
and
Good Night, Ronnie Anderson, wherever You Are.
Kojo
Laffin’ , fit tae Burst!
More hilarious news, the best pantomime I’ve ever seen.
Come on Celtic, stuff them on Sunday, you know it makes sense :)
Craig whyte given a lifetime ban from Scottish football.
Celtic have launched an immediate appeal.
lucky cody 23-17.
well spotted. CW has single handedly sanitised Scottish football. By doing more damage to the huns than Jock, Jinky and Henke put together he has achieved the impossible, with much help from SDM.
It now looks like a slow, lingering painful death. If ever an entity deserved it, its the RFC. I keep getting a picture of the end of the movie ‘Ghost’, where the bad guy gets dragged away to an eternity in hell by the evil spirits. Get what I mean?
hh
Anyone know what the Thai for Duffy and Phelps is? Maybe the superstore can print it on my shirt for Sunday.
Cheers McTall for your reply.
Árd Macha
Ghuys,
On the SFA punishment seems a fairly cogent set of findings.
On MBB never darken the doors of Scottish football and leave £200K on the way out.
On Dignity , clever move allowing 12 months to pay, thus avoiding the charge that the SFA tipped them into liquidation. Also the transfer embargo of 12 months , from a sporting perspective, seems fair , as Dignity have refused to pay PAYE, NI, Vat for near as damn a season. The SFA have said “fine” we cannot make you unsign players or make you pay the tax authorities but any further sporting advantage re signings should be curtailed for a similar period of the tax deceit.
Duff £ Phelps playing to the gallery with their statement, which no doubt they will look back on with embarrassment, although in their job, a brass neck and taking the English language to extremities without breaking the law is a prerequisite.
Still I thought they would have run out of cash by now …. Looks like they will hobble through to end of the season then a different set of suits with perform the Liquidation.
Ahhhhhhcfc
67Heaven … I am Neil Lennon..!!..Truth and Justice will always prevail on 23 April, 2012 at 23:25
Could it be that SFA are in the know and the punishment won’t matter as they will be dead soon anyway.
That way they can appear to be playing hardball i.e no accusations of bias.
Just saying like.
Fascist Fascist is in meltdown………… Big dollops of irony :)
#1 Today, 23:17
Coisty09
Don’t buy the Rhebel Join Date: 31-07-2006
Posts: 655
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.
leftclicktic on 23 April, 2012 at 23:05 said:
Just when you think things are quietening down just a tad , THE GIFT STARTS GIVING AGAIN ,Hundom in meltdown.
HAIL HAIL
———
Heehee….Who’dve thunk it eh…..
Rangers…………….. being so……Charitable..!!?
YaldyCSC
Some good news finally comes Ibrox way….
http://www.celticrumours.co.uk/images/Penny.jpg
God love ’em
Sorry if already posted, but now you have managed to wipe the tears of
Laughter from your cheeks, apparently lafferty has been suspended due to an altercation With Sally.
Pressure getting to him?
54 to zero
Lafferty and FPLG in a bust up too.
The hits just keep on coming.
JCGE
http://t.co/nAXcP0pe
Oh dear.
Off the RADAR Schadenfreude !!
;oD
seanbhoy
ROW … Kyle Lafferty
Pic: Keith Campbell
Exclusive
By DEREK McGREGOR
Published: 22 minutes ago
KYLE LAFFERTY has played his last game for Rangers.
comment on this story
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SunSport can reveal a bitter bust-up with Rangers boss Ally McCoist saw the crocked striker suspended last night.
Lafferty has been ordered to stay away from Murray Park and Ibrox for two weeks, and banned from attending the final two home games of the season against Dundee United and Motherwell.
It’s believed the £3.25million hitman, who has a year left on his contract, never wants to play for McCoist again.
The explosive fall-out follows the 24-year-old star’s failure to meet up with the squad last Friday for the trip to Edinburgh and an overnight stay ahead of the 3-0 win over Hearts at Tynecastle.
Livid McCoist summoned Lafferty — who’s currently sidelined by a hernia problem needing surgery — to his office and bluntly ordered him to keep away from Ibrox.
Yet, a source close to the player last night claimed the Gers boss had asked Lafferty to make himself available for action as a sub against the Jambos despite him being clearly unfit.
Lafferty, who played a major role in the last two Rangers’ title triumphs with vital goals, was not willing to take that risk.
The Ulsterman has already made three sub appearances while not 100 per cent fit.
The same source also alleged that McCoist had CANCELLED two planned operations for the Northern Ireland ace, including one pencilled in for Manchester today.
It’s believed Lafferty was scheduled to head south last night to the same private hospital as Gers captain Steven Davis, who WILL get surgery for a similar injury which has ended his season.
Instead, Lafferty has been forced to remain at home and ponder his future.
The ex-Burnley frontman last month joined other top stars, including Allan McGregor, skipper Davis and Steven Naismith, in agreeing a desperate request from Rangers’ administrators to take a 75 per cent wage cut.
SunSport revealed this month that Lafferty, signed in June 2008, had also insisted that in return for slashing his wages he would be available for a potential summer transfer at a cut-price £500,000.
His career at Rangers has been littered with controversy, but he had become a key player under ex-boss Walter Smith and then McCoist.
But now it seems certain he has played his last game for Gers and will get that move away from his boyhood heroes.
Read more: http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4275354/Crock-Kyle-gets-the-boot-after-Coisty-bust-up.html#ixzz1suPG6WfI
My liquidation guage has nudged up a tad this evening.
From 99.25% certain to about 99.5ish….
My wife’s brother Tony passed away around 2.15am.
He had battled a savage cancer for 20 months.
He was only 47 and he leaves a wife and 15 year old daughter,plus family and friends to mourn him.
His team was Liverpool .
YNWA
Tony
TT
TinyTim
may Tony rest in peace
sorry for your loss
God bless