Duff & Phelps £4m shortfall


Following on from the SFA issuing an important announcement just as the Olympics opening ceremony was getting underway (Mr Regan, take a long hard look in the mirror), Duff and Phelps yesterday issued their final progress report to creditors of The Rangers Football Club PLC (in administration), recently renamed RFC 2012 PLC.

….On a Sunday, when the Ryder Cup was guaranteed top dominate sports reporting.  Anyone would think they didn’t want you to read it.

Take your time to read the report in detail here.  For those of us who follow football finances there is a treasure trove of information seldom revealed in this detail.

During the period in administration covered by the report, 14 February 2012 to 25 September 2012, the club incurred trading shortfall of £4,007,635.  Quite a remarkable figure.

The administrators received £2,457,420 remuneration on 10 August while the club paid £1,325,756 in legal fees as well as over £400k in legal and administration disbursements.

Buried (very) deep into the report is money paid to PR companies.  They paid Spreckley £28,941 for media consulting in relation to the administration.  They also paid Media House £141,441 for media consultancy in relation to the company.  Is this another remarkable figure?  Some creditors may be surprised but there is none here. Duff and Phelps will no doubt be prepared to explain to creditors the value they gained from this expenditure on their behalf at the forthcoming creditors’ meeting.

Duff and Phelps will soon be discharged and the club will be handed over to BDO who will liquidate it.

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  1. Dontbrattbakkinanger / South Of Tunis


    Sorry to butt in but I tend to agree, I’ve listened to a lot of Nick Drake’s music and I don’t get it. Clifford t Ward was around just after and he gets next to no publicity, and yet in my very humble opinion he is responsible for at least 2 or 3 classic tunes “Home Thoughts from Abroad, “Wherewithall” “The Best is Yet to Come” and “Up in the World”. He only had one chart hit in 1973 with “Gaye”, but I think he should have had oodles more.

  2. Ah wiz a Self-Confessed.. Sammi..









    That wiz Durin’ the Days when .. Sammi.. Trolled the Middle.






    Sammi, is Ma Darlin’!



    Why, the Bewilderin’… Wan Eighty?



    Because ,Sammi, noo..



    Trolls the Wing!





    Still , Laughin’

  3. DBBIA @ 15.15



    I agree, he is an acquired taste, and as South of Tunis pointed out, his albums were commercial flops, but I think he was way ahead of his time. Very sad.

  4. South Of Tunis on




    The Nick Drake next to nobody bought him when he was alive but thousands and thousands bought him on CD years after he died thing is interesting .



    I was in Rome [2005 ?] —–saw a magazine advert re a Dutch documentary re Nick Drake being shown in a big Rome cinema . I turned up 15 mins before it was due to start .Queue was round the block . I didn’t get in .. I was amazed.

  5. South Of Tunis



    15:35 on 1 October, 2012






    The Nick Drake next to nobody bought him when he was alive but thousands and thousands bought him on CD years after he died thing is interesting .’





    I bought his albums about 1975 on the strength of having read about him in Zigzag magazine which sort of championed his cause.



    I think his sister was in Crossroads at around the same time.

  6. I’m confident we will create goal scoring opportunities in Moscow and with some good fortune be able to capitalise on them, but for me the difference between a positive and negative result will come down to how well the defence performs and indeed the midfield when Spartak are on the attack.


    I’m sure we’ll be under plenty of pressure over the course of the 90 minutes.



    I will take the draw now but the confidence this squad are emitting and spreading among the support is magic. An away win would come as no great surprise.




  7. There are a couple of bands around as well that are lauded by all and sundry and I’m afraid i don’t get them either (maybe my age), one is Blur, who seemed to make a few reasonably good singles, but nothing outstanding and the other would be The Stone Roses, who I have tried and tried to hear what everyone else could but to no avail. I just don’t think they were very good.

  8. South Of Tunis on

    ernie lynch ———-



    I recently sold a complete set of Zig Zags .



    Nick Drake’s sister was in Crossroads

  9. South Of Tunis



    15:44 on 1 October, 2012



    ‘ernie lynch ———-



    I recently sold a complete set of Zig Zags .’






  10. Forgot to express my delight at Wee Oscar’s target being reached.



    Tremendous news.



    What a weight off the minds of his great parents and family.







  11. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    Blantrye Tim



    Next time bud but its the last time I wear my summer New York traffic cop outfit in the Gallowgate ;-)







    It was my attempt at a George Michael Shadow






    I had to look up Lepidopterology






    I will have to come round and see you next time I am home






    Regret not spending more time with you … again maybe the next time.



    I sent an sms to my Hamilton friend the restaurateur who posts as Glenview without reply. Those who know him tell him hopefully Christmas time I will be back over



    To all those that I owe a drink too from Mc Cuils … PFayr, CRC , TCC et all thanks


    I might even have got some names wrongly matched.



    We were skooshing that quiz until TBB (The Brown Brogue ;-) ) was pointed out to me while Dick Byrne was having his Magners and wee Baileys pony




    WinningGemmel & handsome son and Paul67 …… was great meeting up and thanks for making the effort. It was a very enjoyable night and knocked about 5 points of the quiz night



    To all those that I never got the chance to say hello. Hopefully next time.



    To any ex pats out there who want drenched in good Celtic men …. go to a CQN charity quiz night …. partially organised by Hamiltontim and Bjmac … thanks gentleman you made a young tim …. very happy indeed.







    That was the cheapest Taxi in the world.



    HAil Hail

  12. Neil



    The Duffers and all attached to this pantomime make it up as they go along.


    Perhaps they don’t get that once a statement’s on tinternet, it’s always on tinternet.

  13. South Of Tunis on

    mrob1967 .



    Clifford T Ward —



    I imagine his refusal to tour didn’t help .



    I remember him and Gaye on Top ofThe Pops

  14. mrob1967 / Dontbrattbakkinanger / South Of Tunis



    Try Duncan Browne, once I heard “Journey” I was hooked.

  15. You may all laugh at this and that’s ok, but I’ve been listening to a bunch of cd’s this last week by Bradford’s 70’s pop stars Smokie, and I’ll be honest there are some craking tunes on them. Obviously these all pre-date the dreadfully inane version of Living next door to Alice featuring Roy Chubby Brown.

  16. Great to see so many people being upbeat about the game in Moscow. Having watched them push Barca all the way I hope the injuires Paul refers to in his article will noticeably weaken them along with over confidence.


    I would be delighted with a cleansheet. I am still haunted by our European ventures when we gifted early goals with alarming regularity.


    An added bonus here in Spain is that Digital+ are showing all CL games live. Previously they only showed select games i.e. those involving Spanish teams.

  17. South Of Tunis on

    O. G Rafferty @ 15 43 .



    yes ——- superb -as is ——– Try a little sunshine ..



    Remember work necessitating an overnight in Liverpool .



    Saw an advert for Julian Cope talking and playing some of his favorite choons . I went . His favorite choons included both.

  18. Dontbrattbakkinanger on

    Clifford T Ward, Duncan Browne.. I’m goin’ to mention this bhoy or else he’ll get upset- excellent CQNer Leo Sayer.

  19. Tie a cornflake packet to the roof of your car and fool people from a distance who’ll think your a taxi



    A “VIZ” classic

  20. Philbhoy - It's just the beginning! on

    Paddy Turner



    Depends if I’m able to drive on a Sunday morning!!






    You should be gettin’ ready fur bed the noo!

  21. South Of Tunis, 16:11


    Sunshine was the A side I think. Cope’s a good man on the Krautrock/Freakbeat front

  22. I can confirm the post of thomthethim @14.40 1 October 2012 to be the truth, the whole truth and nothing but the truth.



    He has been a Sammist for as long as I can remember.



    Árd Macha

  23. South Of Tunis on

    greenmaestro @ 16 06 .



    Duncan Browne ?.



    Taste is taste etc -BUT — I saw him on a bill with The Nice ———– both were dreadful —— hard for me to say who I thought was worse . I suppose The Nice could have been worse -they could have E. L and P

  24. DBBIA



    My team mates kept us well in the hunt right to the final round when we got cold feet (and woozy heads) at the thought of being the Bride and opted to play the Bridesmaid again.



    Maggie McGill was especially fetching in chiffon.

  25. Dontbrattbakkinanger 16:11



    Leo Sayer?



    I always think; No, No, not Leo Sayer. Then when I saw him on the breakfast news a couple of weeks back, every clip they showed was an instantly memorable tune. It’s funny that a perm and and a smile makes you think he can’t be any good.

  26. Thanks for recommending Clifford T Ward ,Nick Drake and Al Stewart ,I’m finding


    it hard to sleep at night ,this should remedy the problem.

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