The very last thing anyone connected with Rangers wanted to read this morning is that Andrew Ellis, Craig Whyte’s former associate, is suing the Rangers owner for 24.9% of the club’s shares. This puts a further legal impediment in the way of any potential transfer of shares or stadium assets from Whyte to a new party. It remains to be seen if Ellis is in a position to legally enforce his claim however the veracity of his claim may be moot.
Prospective Rangers buyers do not have time to spend in court hearings and appeals before the start of the new season. If a phoenix (or even a CVA) is to be put in place it is likely that those with a claim, any claim, will need to be satisfied.
This development comes a week after Whyte transferred the security over Ibrox he holds through Rangers FC Group Ltd to Liberty Corporate Ltd.
Legal issues over ownership of shares and assets aside, Rangers’ administrators still have to deal with creditors, in particular, HMRC, who will soon learn if their tax demand against the club has been upheld by the First Tier Tribunal, and Ticketus. Duff and Phelps were denied the right to set aside the deal which Ticketus struck with Rangers to buy thousands of seasons tickets, leaving a path open for Ticketus to present a legal challenge to any deal which does not recognise their interests.
Chances of an early exit from administration appear to be diminishing by the day. Motherwell were in administration for four days short of two years between April 2002 and April 2004. If Rangers are not out of administration on the morning the new season kicks off they would start on minus 10 points.
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Paul 67
Aw Naw
I’ve been following the conversation and there are a number of issues here.
The Applicable Rules
The first is that Aw Nae refers to UEFA FFP rules and you to SPL articles. Neither are relevant in terms of the discussion although elements of both leak into each other.
The confusion is caused by the lack of clarity on the roles and responsibilities and relationships between UEFA, the SFA and the SPL.
My view is that
UEFA are responsible for setting out the club licensing rules for entry into UEFA competitions.
The SFA are responsible for seeing that clubs who qualify for UEFA competions comply with those rules.
(However) the SFA are also responsible for granting club licenses for playing in Scotland. The criteria for obtaining a licence are listed here Part Two National Club Licensing (read Two and Three for powers) . Also Section 8 – 8.1.1
Annual Financial Statements requires the submission of audited accounts ratified by an AGM by 31st March .(Aw Naws point) It is the lack of these that should empower the SFA to act. However this is where the discretion bit comes in because the rules state what the SFA MAY to See Sections 2.2 and 3,8 including withdrawal of licence not only for failure to meet the audited accounts criteria but also if a club has an insolvency event.
My interpretation is that at least one of the criteria (the unratified accounts) has been breached and the SFA should act , but I am not sure exactly what form that would take although withdrawal of licence is one possibility.
Its pretty clear to me that they do not want to act prematurely (ie before the BTC decision or to ruin the Admin charade) and are hiding behind the Nimmo enquiry and quite happy CW is not turning up as that will take away their excuse for not acting.
Respective Roles of SFA/SPL
What is emerging is that there is a clear conflict of interest between the roles of the SPL which is geared to commercial success and the SFA whose role should be geared to upholding sporting integrity and being proper governors of the game, applying UEFA rules and policies.
The roles need to be examined and clearly defined as should lines of authority on different aspects. The SFA should for example refuse licences if a deal for 4 Celtic v Rangers to be televised is specifically written into a contract. Such an arrangement undermines the integrity as there can be no assurances it will happen over a three or four year contract.
The point is that it is the SFA who governs (or should govern). However we have seen that to do their job, the SFA have SPL interests within their structures, so some policing is required and so the SFA need to be made accountable to an overseeing body- an Ombudsman kind of arrangement.
These are the mechanisms that whilst imperfect in themselves, dependent as they are on those involved doing their jobs properly, are common place in other industries where the parties cannot be trusted to act properly. The parallel with the banking failure is noticeable.
What has happened demonstrates that football cannot run on trust any longer, especially in Scotland. So the structures roles and responsibilities of the main parties need to be examined, redefined if necessary and changes implemented to reflect the findings.
What Celtic Will Do
Apart from assurances to the CST at a meeting that they will act in Celtic’s best interests and that integrity will be paramount I know that Celtic know of the club license rules issue and I know that they know of UEFA’s attitude to sporting integrity taking precedence over commercial considerations.
Platini Ready to Intervene
It is a matter of timing for Celtic do not know if a Newco situation will arise, but if it does the SFA will have to govern because not to do so would be a challenge to UEFA’s values as well as abandonment of their role and so the SFA would have to direct the SPL to uphold sporting integrity or be called to account by UEFA.
So its more of wait and see, but I would not take silence from Celtic as meaning contingencies are not being prepared to argue the integrity cases.
Additionally should Rangers be found guilty of all that they are suspected of, chances are the morality issue will scream so loud no other voices will speak up for a parachute, (and that is apart from starting at the bottom being good for Newco as well in terms of lower start up costs yet still winning titles)
That is how I see the club licensing issue and dont get me started on the UEFA licence and the wee tax case ;) that still has not been clarified.
roccobhoy on 10 April, 2012 at 16:43 said:
+++++
Google? pfft.
I got Stenny straight away for some strange reason and grabbed the other two from replies above mine :-D
Some man (sir) David:
Douglas Fraser @BBCDouglsFraser
In case you missed it on holiday monday, David Murray’s mint unwrapped, taking a final £8.7m profit from #Rangers
ItsallCraigWhytesfaultCSC
I have my doubts that big Fraser Forster will sign for us when I saw the team celebrating winning the title and still the big guys not signed.There seems to be a real good team spirit at Parkhead so why wouldnt you sign unless your mind is elsewhere.Mind you I also said Broonie wouldnt re sign with us and he did what do I know.H.H.
79caps & iki
Gollum’s piece proves one thing beyond doubt.
He is mental!!
If he thinks he has managed to referee without controversy this past month then there is something seriously wrong in his head.
Robert Tessell
Thanks I appreciate that coming from you as , in my short time on here, I think your contributions are a highlight. Keep it up.
Breeny.
Welcome aboard.
Just ask Paul to provide my details and send the cheque to me ( just sign it, I will fill in a very large number)
I have posted infrequently on this site for years and have never been asked the H question…… I am quite jealous that you managed the accolade so soon.
The Onlooker
Bada:
Yeah, cause it’s just banter, eah? God, if everyone who ever sent a jokey email about the Pope had been sacked … oh wait ….
… and as I recall EVERY person on this site was hollering for that decision.
This stuff ISN’T banter. It ISN’T a joke. We are either against it – ALL OF IT – or we are against none of it. We can’t pick and choose here, and have credibility.
Torontony
hahaha i’m no that bad. If you take me up on the Carnegie course offer some time the scouser will have a go at you as i’ve been mailing her all your cheek :-)Yeah was delighted with his response, & philbhoys. Just a very nice Tim & i would like to know how he is. HH
thehuddlehound on 10 April, 2012 at 15:45 said:
I assumed that baldy Bain’s £500K was included in the £935K cash as at 31 March 2012, suspect this is probably unrealistic , which will provide Dignity with another week or so on life support!
Cashiskingcfc
My dear,dear,dear,friend.. Joe Filippi’s Hair Cut.
Hiya,pally?
Ah kin tell ye No Fur A Fact..
That .. Master Forster, is Maist Anxious tae Tie Up his Future
wi.. The Bhoys.. and only the Bhoys..
And ye kin tak that tae the Bank.
Kojo
Yer pal.. who likes ye aloater.
Still.. Laughin,But
ASonOfDan @ 16.48
Yes, apart from the controversy in Scotland, Craig Thomson and Willie Collum were described as “clowns” and “amateurs” by the general manager of Schalke.
Bhoys,
Breeny may well be a Hun or he may not. I genuinely dont know. Eventually, he’ll out himself but giving him all this attention is only fueling his desire to post on CQN, something I’m sure we don’t want to give him if he’s a Hun.
My advice, ignore him unless he is civil and genuinely offering something to the Blog.
He’ll either prove himself or out himself, eventually.
Hail Hail
Roccobhoy
Roccobhoy
NEXT! haha. got nowhere with that 1. HH
Dirtymac,
Only joking mate.
Hail Hail
Roccobhoy
Obscure trivia question. Which ‘reb’ song lyric has the answer ‘Wembley Cup tournament’
“Is Gollum for real?” Great question.
Mt favourite tv quote of the long weekend came from Emmerdale, which seems to be more than just a farm these days.
A wee boy asked the village vicar, “Is the Easter Bunny really real like god?”
The Onlooker
The cheque will be signed by Duff & Duffer, is that ok?
Paul67
Scottish football may well be on the road to European obscurity but Celtic are not.
I agree with you that Celtic would note vote for a Newco Rangers. That is not the same thing as wanting one. The perception of publicly maintaining the Old Firm brand demands secrecy. Nothing new there either. If we are now on a new road and I agree with you EVERYTHING the club has done recently is to be applauded. I said so only today.
What I cannot reconcile is how UEFA will deal with a parachuted Rangers into a top league and keep Celtic and Scotland in Europe.
Those are the kind of somersaults we all waiting on.
You seem certain that will happen. So either everyone sticks by the rules that have already been written and interprets the “mays” within our governance as “we really should”
or Celtic get an invite to a league that plays in Europe
spill ? ;-)
HAil Hail
Serge,
Unfortunately, I’ve gotta go now but after Barca game tonight, I’ll post a trivia. Approx 9.30pm mate ( if I can find one!! )
Hail Hail
Roccobhoy
Kojo . Hi there Fella if hes anxious to sign with us what is the hold up ? I think it would be good if he did sign as he has improved this season.On saying that if Craig Gordon is an option he would be another good signing.H.H.
breenjy dont listen to them bud. i get called a hun all the time because i tell the truth and most on here dont like it. u sound like a loyal celtic fan like me and they are trying to chase you. asonofdan is the worst for it i see he was saying earlier you must be a stupid newbster like me. well asonofdum i am not new. i have been here for ages. you no getting tired of me bursting your mooth?
Kojo,
WGS:@ about 20 mins ago
Roccobhoy
Thanks mate always good to pass the time. Enjoy the game, HH
A three legged dug limped into Tombstone he was looking for the man who shot his Paw.
Thanks Declan, your support means a lot to me.
ASonOfDan on 10 April, 2012 at 16:48 said:
79caps & iki
“Gollum’s piece proves one thing beyond doubt.
He is mental!!”
I have always thought he was a careerist and as such worried only about his own personal advancement.
In the piece with STV, he lends some credence to my belief.
He sees everything only in so far as it affects him:
“I’ve just returned myself from a Europa League quarter final between [Metalist Kharkiv] and Sporting Lisbon. For a Scottish refereeing team to go so far in Europe is excellent.
“I am also part of the Euro 2012 team with Craig Thomson, which is fantastic. Scottish refereeing is thriving.”
“I think it has been an easier time for me personally. I don’t think I have been involved in as much controversy. I’ve certainly been enjoying my refereeing.”
he said. “It really became a ground for referees to apologise for decisions. I am not so sure I would need to come out and explain decisions.
5 British teams with an X in their name
roccobhoy on 10 April, 2012 at 16:43said:
Dirty Mac
Correct on all 3
Q O T S, STenhousemuir and Bournemouth.
It’s amazing what google can do!!! :)
What about Southampton?
Roccobhoy
Sorry if you come up with one i’ll check it in the morning as im 2 hours ahead of uk time so will be sound asleep. HH
scottish team that plays in blue with ia at the end of its name?
Breeny what can i say, welcome to the are u or are u not club.
Douglas Fraser didn’t miss in his Murray critique just then …
Seems old Minty might be in the brown stuff. His profitable arms of the company are no longer going to be allowed to act as financial supports for the loss-making ones, although I have difficulty working out how they ever could.
The enormity of the loss for this tax year is breathtaking. How much longer can this guy lumber onward like this?
Wrexham
BREENY
Sorry I could not be more precise,it is a mixture of the complex,lies and conjecture.
As it stands,the administrators state debts of up to £134m,but they still value the stadium and training ground at £109m.
Neither of those figures are likely to be even remotely close,as RFC are unlikely to lose the big tax case in it’s entirity.
However,there are likely to be even more financials lurking under the surface-Joe might insert a wee gag here to be misunderstood by some Bleeding Hearts-which even D&P can’t get to the root of.
Murray’s business affairs are,after all,notoriously difficult to unfathom-in case the litigious git is reading this.
But the bottom line appears to be that they are heading for inevitable liquidation unless a billionaire who has forgotten how he became one in the first place lobs them around £150m to clear their feet.
And another £100m to purchase the stadiun and training ground.
Oh,and around that much again to rebuild the squad and cover a minimum of three years with no European income-more,if they keep FPLG.
Or,alternatively,they could rely on it all being sorted over a handshake……….
Breeny ,
If it makes me a creditor I won’t be settling for CVA
Onlooker
Notakingpenceinthepound CSC
JF-If you micro-managed every comment made anywhere,you could find fault,or offend a bleeding heart.As i said ,storm in a teacup for me.HH.
Neuchatel Xamax ;-) oooooof