Quantcast

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.

Pay your bills!

Buy a hard copy of CQN Magazine, issue 7, by clicking on the button below.  You can read online here.


Ship to:




Click Here for Comments >
Share.

About Author

676 Comments
  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. ...
  10. 18

  1. Socks round the ankles and no shinnies on

    Bobby Tait

     

     

    7 days previous to Killie’s visit to Ibrox, we had drawn 0-0 at home to Hibs. That night I flew out to Majorca for a week’s holiday convinced we had blown the title and that they were going to win 10 in a row.

     

     

    Landed at Glasgow at 4 pm the following Saturday, listened to their game on radio on way home, seemed to last forever. Walked into my house to listen to injury time, was running up the wall when Ally Mitchell scored.

     

     

    To know that a dirty hun like Tait played a small part in stopping the 10 still makes me smile14 years later.

  2. Paul67

     

    Seen as D & P in footballing terms seem to have told their keeper to go up for what could be the huns last ever corner, in the hope the keeper dives for a penalty.

     

    I take it theres very little chance of the huns passing on the 25th of May.

     

    Now how good would it be if that was the day the hun died.

  3. if yer in the area, why not get along to the match at hampden 730pm kick-off

     

    5quid and 2quid pay at the gate

     

    cfc v qos

     

    u19 sfa cup final

     

    mon the Celtic

  4. James Edward McGrory 408 goals in 408 league games on

    weeminger on 23 April, 2012 at 17:53 said:

     

     

    Exactly!

     

     

    Although I cant see many of our younger players fearing them any longer. Not when they are soon to be similar to East Stirling :)

     

     

    HH

  5. Disagree with previous posts about giving the yoofs a chance on Sunday.

     

    IF the game goes ahead,it will represent THE last opportunity for their hammer throwers to seriously hurt a Celtic player (again)

     

    My team would be 5-4-1

     

    Forster

     

    Lustig Rogne Loovens Wilson Mulgrew

     

    Cha Brown Wanyama Ledley

     

    Samaras

     

    that represents our biggest,most physical team.If/when they start their thuggery,we must have a team who can match it.If a game of football results thereafter then fine,we can bring on guys to win it.First we need to win the war

     

    Also,for a number of years my ST was in Section 416,right next to the hun support.Derby day was always fraught with danger as they regularly threw all manner of objects at us,with impunity.I sincerely hope the Celtic Security Staff are taking special measures for this weekend as I can see a load of bother and the resources traditionally employed will be far from sufficient to cope with it

  6. Socks round the ankles and no shinnies on

    Apologies to the Green Brigade, but Cheerio to Ten in a row is still my favourite Celtic song ever!

  7. I remember the Ally Mitchell thing.

     

     

    Was that the year we hope to win it the next day at East End Park but didn’t?

     

     

    For some reason Mike Galloway comes to mind, but I don’t think he was playing. Was he in the Celtic end that day or something?

  8. Steinreignedsupreme on

    Where have all the Huns gone?

     

     

    It seems like only yesterday when we were reading comments like ‘on their way to four-in-a-row with no money to spend’ virtually every day.

  9. I don’t like the pistol at the temple analogy some people are using for Wild Bill’s ultimatum to the SFA/SPL over further sanctions & penalties to der hun- as it seems lean on the presumption that they have no choice. I see it more as black & white blackmail: if you impose a just punishment he will withdraw his bid & therefore der hun go bust & so does Scottish football (apparently); or disregard the crimes of der hun & rebuff any further calls for further discipline to be exacted upon them & Wild Bill will save der hun & by doing so save the whole of Scottish football (as the skewed logic goes). This is the Scottish Football Powers Rochelle powder moment. For there is always a choice, even in blackmail; that is to do what is right, even when it is the most difficult thing to do- that of course is the reason doing what is right is so highly valued & worthwhile for cathartic good: it has a high price, a real cost & a powerful purgative effect… with one sure, true & confident act they can PURIFY the game in Scotland.

  10. James Forrest is Neil Lennon! We are ALL Neil Lennon! on

    Don’t you just love putting Clyde on and getting the “Loopy Lenders” opener?

     

     

    That has to be someone at the serious wind-up.

  11. Not normally one post dimples, but I did pick up this little tidbit the other day. Following the creditors meeting on Friday a group of high value and influential creditors me in a sub group.

     

     

    The question posed. Is there an alternative Administrator who can be appointed who will:

     

     

    a) develop a plan for recovery, maximising the potential for payment to all creditors?

     

    b) in doing so create a platform that allows Rangers to survive as a going concern and maintain their position in the SPL, without penalty?

     

    c) develop new investment plans to help the club move forward in strength.

     

     

    the answer, and the new administrators………Norfolk & Way

  12. tomthelennytim on

    Just heard an “expert” on 5live saying he expected Rangers to exit through CVA and CW to take between £300k and £1.5m for his shares.

     

    Hehehe

  13. I remember that Kilmarnock game back in 88 like yesterday. Was listening to the game in the house and thought it was just a matter of time before they scored and coud’nt handle the pressure, so I decided to take a slow walk to the pub fearing the worst.

     

    I then heard pamp pamp, and turned round only to see a bus, I carried on walking and heard the bus pamping again, this time it done 360 degrees around the roundabout and came towards me.

     

    To my surprise it was my big mate Dadeza driving the double decker going mental, I thought yes they must have drew. 1 nil to Kilmarnock he shouted, so there was me jumping up and down and him tooting the horn, must have been a bummer for any orcs on that bus.

     

    The next day we done a charity bike run to CP with Joe ORourke and a few regulars from the Star Hotel. Got to CP, got on the bus to Dunfermline and got there pretty early, remember sitting in the glorious sunshine thinking it does’nt get any better.

     

    Unfortunately the team did’nt turn up that day, and that trip back was one of the worst ever, even in the pub that night was dreadful. Another six days of extreme pressure was to be had.

     

     

    HH

  14. James Edward McGrory 408 goals in 408 league games on

    Coming from Clydebank I would just like to apologise on behalf on my town for giving the world Hugh Keevins, none of us like him here, just to let you know :)

  15. Tennessee Tim on

    On behalf of Tennesseans the world over, I gracefully accept your thanks and applause for the likes of Crazy Bill Miller being sprung upon the Hun.

  16. So bill miller confirms he HAS spoken to the SFA today.

     

    Im sure alextomo will ask the SFA if this is true and did they tell him politely that the huns will be punished no matter what he wants to happen.

     

    Or did they say they will try their best to help him by giving a softly softly gentle wrist slap to the huns.

  17. My dear,dear,dear,friend..Rogan and Brogan.. et al..

     

     

     

    Ah spotted you. right away.. when ye foist

     

    darkened oor Cyber Doorstep.. fur

     

    whit ye Wur..

     

     

    And that is..

     

     

    A Wonderful.. WRITER..and Story Teller… as ye may recall..

     

    Ah likened ye tae a Guid Freen of Mine, noo Departed fae this Mortal Scene…. and he wiz

     

    Good Pape… intae the Bargain.

     

    He wiz…

     

    Jim Murray, ….the Much Admired and Revered..

     

     

    Heid Sports Writer of the Los Angeles Times..

     

     

    and

     

     

    Subsequently.. Ah wizane wrang in Making that…some may say…

     

    Ambitious.. Comparison

     

     

    Kid.

     

     

    Ye goat the Talent!

     

     

    and, Ah suspect.. ye must be a very Successful Fellow.. in

     

    that Particular Field..which ye hiv chosen tae

     

    Earn yer Daily.. Tea and Muffins!

     

     

    Anyway,pal..

     

    Ah luvved ye maist Recent Contribution tae this Sacred Spot on the Blogoshphere..

     

     

    Keep ’em Comin’!

     

     

    Kojo

     

    yer pal. who likes and ADMIRES, ye… mair ane mairer.

     

     

    Still Laughin’

  18. Tennessee Tim on 23 April, 2012 at 18:14 said:

     

    On behalf of Tennesseans the world over, I gracefully accept your thanks and applause for the likes of Crazy Bill Miller being sprung upon the Hun.

     

    ————————————————————

     

     

    Thanks a gizillion!

  19. James Edward McGrory 408 goals in 408 league games on

    Is Celtic Tv showing the youth cup final to UK subscribers tonight?

  20. Goatta Go… Woik .. is Piling up.

     

     

    Seeya, Folks.

     

     

    Kojo.

     

     

    Chortlin’,noo.. jist fur a chinge!

  21. My dear,dear,dear,dear,dear,dear,dear,dear,dear,dear,dear,dear,dear,dear,dear,friends… Kojo and The Singing Detective.

     

     

    Hiya palomines.

     

     

    The end of the GA will mean the likelihood of a loat mair young players given the chance to stake a claim in the mighty Celtics first team.

     

     

    maks sense to us

     

     

     

    Kojak

     

     

    yer pal.. who likes ye both the maist.

     

    Still, chuckling and nae sign of stoapping yet.

  22. ibleedgreenandwhite1 on

    scottishleaf on 23 April, 2012 at 18:20 said:

     

    Keith Jackson really is a moron……

     

     

     

    Yup!!1

     

     

    :D

     

     

    Hail hail

  23. Rangers Fighting Fund, marching round Ibrokes on may 6th, getting in some practice for the 12th!

  24. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    The human whiff on BBC Scotland.

     

     

    Craig Whyte looking for 50m

     

     

    HH

  25. The Battered Bunnet on

    Paul Murray tonight didn’t release the following statement:

     

     

    Rangers Football Club is a Scottish institution brought to its knees by a decade or more of malfeasance and financial irregularity. As a Director of the company for 3 of the years in question, I must accept my share of the blame for the humiliations the club is now enduring.

     

     

    I am truly sorry, and I pledge that, if my CVA proposals are accepted, I will work tirelessly until every last thin dime of Creditors’ funds are repaid in full by the club.

     

     

    P Murray

     

    Remorseful and Humble

  26. The Battered Bunnet on 23 April, 2012 at 18:24 said:

     

     

    Lord. In all the comings and goings I’d completely forgotten that Murray was in it up to his neck and not a fit and proper person.

  27. i have it, i have it , why don’t they sell the orange strips again, great money spinner in light of their (eh support of dutch team at euros or something like that) and walk round ibrokes, what ideas can you guys come up with (need £135m) so the wackier the better!!!!

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. ...
  10. 18