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 McC on 11 April, 2012 at 08:03 said:
Rafael Sheidt?
Charlie Richmond
And he suggested that there was an unhealthy degree of internal strife among match officials.
“In any walk of life a natural progression takes place but the person underneath doesn’t need to stab someone in in the back to advance quicker,” said the former Champions League and Uefa Cup referee.
“I received a phone call telling me to watch what I was saying in dressing rooms because this is 10am on a Monday and it’s filtered back already.
“Much more disappointing, is that they are believing that information.
“I’ve challenged that on a couple of instances and asked them to name the people who are making these allegations and they’ve turned round and said ‘I don’t know’.
“I replied if you want to know anything lift the phone to me and I’ll tell you personally.”
Richmond has no intention of taking his grievances further and stressed repeatedly that his claims were “not sour grapes”.
“I just think it needs to be a level playing field and we need to start treating people like human beings,” were his final words on the subject.
Is this true Mr Regan? officials reporting on other officials to the referee hierarchy with gossip and unsubstantiated accusations on what was being said in match day dressing rooms.
Mr Regan Instead of underhanded criticisms of Mr Richmond via an unprofessional means, Why dont you investigate his claims first before you condemn Richmond
Ki Sung Yueng & Efrain Juarez for James McCarthy?
Rangers in crisis: There will be NO takeover unless I get a pay-off, says club owner Craig Whyte
Apr 11 2012 by Keith Jackson
SHAMELESS Craig Whyte is threatening to scupper any rescue package for Rangers unless he is weighed infor shares.
The Ibrox club’s disgraced owner broke cover last night as administrators worked towards selecting a preferred bidder from the three takeover parties – Paul Murray’s Blue Knights, American towing tycoon Bill Miller and Bill Ng’s Singapore consortium.
Whyte claims to have had talks with two of the bidders and is now warning ominously that any deal to salvage the club will hinge on his own personal approval.
He said: “I’ve said I won’t stand in the way of a takeover and that remains my position. I am assuming a preferred bidder can be announced subject to a deal being done with me.”
Duff and Phelps hope to announce their front-runner today or tomorrow. That bidder will then be granted a two-week period of exclusivity to push a buy-out over the line.
But Whyte – who Record Sport revealed financed his own disastrous reign by flogging off future season tickets in a £24.4million deal with Ticketus – now appears to be looking for a bumper pay day despite giving Sir David Murray just a single pound for his majority holding.
It remains to be seen whether or not any of the three bidders would be willing to give Whyte a golden handshake but the amount of ill will towards him grows by the day.
Yesterday Record Sport revealed his former cohort, Andrew Ellis, plans to sue Whyte for failing to deliver on a promise to hand over a 24.9 per cent stake in the club after completing their takeover last May.
But Whyte’s camp insist their man will happily see Ellis in court.
A spokesman for Whyte said: “Andrew Ellis is not entitled to any shares. There was never an agreement in place with him.”
Ellis insists his legal action will not damage the takeover talks. He said: “I’m suing Craig – not the club.”
Meanwhile, Whyte made it clear he has no intention of attending an SFA hearing this month to answer disrepute charges.
He is scheduled to report on April 17 after Lord William Nimmo Smith’s inquiry found he was not a fit and proper person to own a club.
Whyte said: “They have delivered their verdict before the trial so what is the point?”
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Over to you Mr Regan …
Willie Collum Quote
“I’m aware something was said recently about some kind of threat but I wasn’t made aware of that at any point.
He was aware, but wasn’t made aware?
Rumsfields known unknowns
Let us not forget that Richmond was an appalling referee who was part of the ‘gang’ until he fell out of favour
Witness his performance in our game at Motherwell in November, when he allowed them to hack at will in particular against young James Forrest. Only once we had taken the lead and looked like winning the game did he send off one of their players for an off the ball hack at Hooper
He was a disgraceful excuse for a referee and will not be missed
By PAUL HUGHES
Published: 10th April 2012
CHARLIE RICHMOND last night savaged the SFA after quitting as a Grade One referee.
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The disgruntled whistler retired on Saturday.
And in a blistering attack on the refereeing system in Scotland, he claimed:
HE was penalised for not sucking up to his bosses;
HE was stabbed in the back by fellow refs;
WHISTLERS have no respect for players.
In an explosive interview Richmond — who quit because he was fed up being overlooked for SPL games — rapped: “My close friends and family know I’ve been unhappy for the last 18 months.
“It sounds terrible but I was looking for an opportunity.
“Apparently I don’t suck up to the right people.
“Ability has to be there but if you move in the right circles you get the rewards.
“There will be people who walk over the top of others and people who say the right things to get to where they want.”
Richmond was furious his top-flight career all but ended this season with no explanation.
He claims there are Grade One whistlers who SHOULDN’T be officiating at SPL games. And he insists some officials talked about him to bosses behind his back.
He said: “There’s been people who’ve made allegations against me. Guys who’ve been in a changing room with me on a Saturday. By the time Monday comes around I get a phone call telling me to watch what I’m saying.
“I’ve no doubt that many refs in this country rise to the top because their face fits and not because of their ability as an official. Are there refs operating who shouldn’t be at the top level? Yes.”
Richmond also claimed ex-refs chief Hugh Dallas told him he had to promote himself to get ahead.
He claimed: “A few years ago Hugh Dallas told me it was just as important to promote yourself in refereeing as it was in any profession or pursuit.
“Promotion as a referee should depend solely on performance on the park.”
Richmond is the second Grade One ref to quit this season after Steve Conroy last month.
As he bowed out, he lit the blue touch paper by claiming the Respect campaign aimed at improving behaviour towards whistlers won’t work — because too few refs respect players.
Richmond added: “If you ask certain players if they respect refs they’ll say no as they don’t get respect from them.”
Last night SFA chief executive Stewart Regan hit back at Richmond on Twitter. He rapped: “Would prefer to see consistent under performers ‘retire’ without feeling need to blame others.”
By PAUL HUGHES
Published: 10th April 2012
SCOTT BROWN will never reveal how he celebrated his first title as Celtic skipper.
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Related Stories
Neil has us up for Euro elite
SCOTT BROWN has claimed Celtic are now ready for the Champions League
He does admit there was something missing from the champions’ knees-up — the SPL trophy.
League bosses have ruled Neil Lennon’s champs won’t get their hands on the silverware until their final home game against Hearts.
Brown isn’t sure why they never got to lift that precious hunk of metal on Saturday after their 6-0 thrashing of Killie. What he does know is after waiting four years to take the title off Rangers, he can wait another few weeks to see the trophy close up.
Brown said: “How did we celebrate on Saturday night? That’s a secret.
“It was a great day though and the main thing is we won it in style.
“At the team talk the gaffer asked us to go out and express ourselves. I think we did that.
“I don’t know why there was no trophy. It would have been great to have it presented last Saturday, but we will get that in time.
“The fans made it like a home game for us. From the first minute to the last it was incredible.
“It was one of those days no one can really explain how good it was.
“We’ve waited four years to get our hands on the league so another five weeks to get the trophy won’t do us any harm.”
Brown and the rest of the Celtic squad returned to Lennoxtown yesterday for the first time since their triumph.
Despite only a few days having passed, Brown insists that the enormity of the achievement has already hit home. He added: “I think it has sunk in now. We’ve seen the papers and TV now and all the lads enjoyed themselves and are really happy. It shows how good the team spirit is.
“It has also sunk in today with all the lads coming back in a nice happy mood, and going out training again.
“I was sitting on the bench when Charlie Mulgrew came off last Saturday.
“At the time we were 5-0 up and we knew it was going to be one of those great days.
“It would have been great to stay on for the whole 90 minutes, but I had a wee niggle so it’s better to be safe than sorry.”
Brown may not have played the full 90 minutes on Saturday because of a groin injury, but at least he was on the park. Rewind to last October and he was stuck in the house, crocked again and lying on the couch as his team-mates experienced the pivotal moment in their season.
Brown said: “The biggest challenge we’ve faced this season was when we were 3-0 down at Kilmarnock.
“It showed incredible team spirit to come back from that.
“I watched that game on TV and in the second half we just got stronger and stronger. Ever since then we’ve just got better every game.
“I don’t know what I was thinking watching that Killie game. We came back from 3-0 down to 3-3. There’s not a lot of clubs who can do that.
“I had faith in the lads to go out and make a point and they did that.
“That’s when our season changed. It put pressure on Rangers because they dropped points that day as well.”
It might not be the first title he’s won since joining Celtic from Hibs but it is the first one he’s led the team to while wearing the captain’s armband. Brown was convinced the day would come where he got to lead the club to SPL glory.
He stressed: “In my first season we had so many highs. We won the league and it was brilliant.
“After that it was not quite as good, but this season has topped everything.
“I had always had faith the title would come. I knew how good the lads were here.
“I knew how good they were in training and in games we have been battering teams away from home.
“We didn’t start as well as we could have, but as the season has gone on we got stronger and kept improving. We have understood everyone’s game and the gaffer has more of a settled team — it’s looking good for us that’s for sure.
“This season is definitely not over though. We have a big semi-final against Hearts this weekend which I am desperate to win.
“I didn’t play because I was injured, but I remember being at Hibs when we were hammered 4-0 by Hearts in the semi-final and Paul Hartley scored a hat-trick.
“That was a sore one so I want to do well in this game.
“We’ve got five big games left in the league as well so the season isn’t over.”
Well done to the County of Ross on their promotion.
By ROBERT GRIEVE
Published: 10th April 2012
THE first could have been bad defending.
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The second might have been offside and it’s possible there isn’t a goalkeeper alive who could have saved number three.
Willie Collum was 13 and a small kid with big ambitions of making it in football.
It was only when he trudged off the pitch having picked the ball out of his net 18 TIMES he realised football might not be for him.
Now 20 years on he knows he was right — well, playing it at least.
The 33-year-old whistler has a career in the game at the highest level.
Referee Collum said: “I had a question-and-answer thing in the school where I work.
“One of the kids asked me why I got into refereeing and probably expected some weird answer.
“But the truth is my lack of playing ability!
“I played one game in goal for the school team and we were beaten 18-0 and I decided my future never lay in playing football.
“I still loved football, I loved playing and I always watched football as a kid growing up. I’d go to as many games as possible.
“I was one of those people who would go to any game.
“I remember going on the train to Clydebank and places like that, just to see a game. I loved football I just wasn’t very good at playing it.
“One day my mother came in with a wee advert to take up refereeing and I never looked back.
“I was 14 at the time and it was the best decision I made.
“As soon as you become a referee you suddenly start to think about looking at other referees — particularly at the level at which we’re operating at — about body language and things. I still admire players. I’ve had the great fortune to be on the field with Lionel Messi twice this season, once as a ref and once as an assistant beside the goal.
“To see him up close is fantastic. It’s what I would have dreamed of as a kid to be playing on that field, but to be running about the Nou Camp as a referee is fantastic.
“I refereed Barcelona against Bate Borisov in December and then I was with Craig Thomson at Bayer Leverkusen against Barcelona in February.
“This summer I’m going to Euro 2012 and, for me, that is the closest I will come to playing for Scotland.”
Like the rest of us, Collum just wishes Craig Levein’s team was heading to Poland and Ukraine too.
He added: “I would like to see our national team being at the finals as the whole profile of the country is raised when that happens.
“First and foremost they’re the most important thing.
“It’s great for refereeing that we’re going out there. It’s good when we’re recruiting referees to show this is what you can achieve.
“Again, I go back to the hard work and the time commitment, training, watching DVDs. These are all important but especially so when you start reaping the rewards.
“To actually go to the Euro finals is incredible and it’s great for other people to be able to say that.
“Not everyone will make it in the end. Refereeing is like the youth set- up at a club. Not everyone will come through the academy and not everyone will become a top referee.”
Collum is the head of Religious Education at St Mungo’s school in Glasgow’s Gallowgate.
At times it’s a testing environment — especially when his pupils give him stick.
Collum added: “They’re all football fans too. They’ll mention decisions and we have a wee bit of banter.
“You need to engage with them but they’ll say ‘what about that decision?’ while others talk about my running style from watching on the TV, or my receding hair-line.
“They tell me that bald patch I have is getting worse! In general, I have to say, the kids are very good.
“People don’t believe me but they are. They’re very supportive because they know me.
“They’re not like normal supporters who only see me as Willie Collum the referee.
“They see me as somebody else, somebody in a different environment every day.
“Sometimes I get it worse in the staff room. There are season ticket holders for various teams in there and they always have their own opinion.”
Collum is certain to be a man under pressure this weekend when he takes charge of the Scottish Cup semi-final between Hibs and Aberdeen at Hampden.
He has agreed to have his pulse taken before, during and after the match as part of a Know Your Blood Pressure campaign.
As the father of three young daughters he’s more than used to being stressed out.
He added: “Everybody needs a breather from their job or their hobby and with me it’s a case of turning to my family and spending time with them.
“I have three young kids so it’s a case of taking them off my wife, doing a few nappies or cleaning up the house.
“We have three children, one just nine weeks, one 20 months and one who is three. All girls. It’s hard going.”
I think Broonie and the bhoys would have celebrated in the traditional way, by going round chez Giorgios for an all night Ker-plunk! session.
STEVIE NAISMITH COULD MAKE SURPRISE RETURN
Stevie Naismith is on track to make an amazing comeback before the end of the season.
Wednesday April 11,2012
By Iain Macfarlane
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STEVIE NAISMITH is on track to make an amazing comeback before the end of the season.
The Rangers attacker was ruled out for up to eight months when he damaged his cruciate knee ligaments in a game against Aberdeen back in October.
However, Naismith –a £3.5 million summer transfer target for Premiership outfit West Brom – has made such a rapid recovery and Ibrox boss Ally McCoist reckons a return before the season ends on May 13 at St Johnstone could be on the cards.
McCoist admitted: “Stevie is doing really well we are not saying he has visited Lourdes but he is going for a scan today just to check up on his knee and make sure everything is ok.
“He’s coming along really nicely but there is no point in rushing anything at the moment with the end of the season coming.
“With that said, I would nice to see if Naisy maybe could get a game in somewhere, although we’d obviously take advice from the medical team on that.
“For his own peace of mind, if nothing else, it would be good if he could get 45 minutes somewhere and then he could go away and have a holiday knowing he is absolutely fine.
“It’s not a disaster if that doesn’t happen though and if he comes back in pre-season instead we will be fine with that. We really just want to see if WBA would be prepared to buy him while still not 100% completely fit. I would say he is 99.75% fit but we need to heed what the medical staff are telling us.”
Rangers season started to fall apart when Naismith got crocked and McCoist will be thrilled to get him back.
He told Rangers TV: “The one thing about Steven is he trains and works exceptionally hard all the time, whether he is training or coming back from an injury.
“He’s got that kind of attitude and mental strength that always gives you a chance of coming back that little bit earlier when you’re out.”
Meanwhile, former Rangers director Andrew Ellis says his decision to sue Craig Whyte will not hold up the sale of the Ibrox club.
Ellis is adamant that Whyte promised him a near 25% stake in Rangers when he took over the club last May but has reneged on the deal.Ellis will now pursue disgraced Whyte through the courts.
However, he re-assured Rangers fans that the process will not delay the bidding process for the club involving the Blue Knights, Singapore-based Bill Ng and American Bill Miller.
Ellis said: “”It certainly will not hold up the sale of the club. I’m suing Craig – not the football club.I’ve been trying to sort it out for the last nine or 10 months and I haven’t got anywhere so I’ve handed it over to the legal team.”
Administrators Duff and Phelps hope to give one of the interested parties preferred bidder status in the next 48 hours in an attempt to drag the club back from the brink.
Morning all from gay Paree, April showers and sunny spells (13C max).
Euan Norris will referee the semi-final between Celtic and Heart of Midlothian on the Sunday. The assistants are Willie Conquer and Graeme Leslie, with Stephen Finnie the fourth official.
What’s the general feeling about those guys?
There’s something far wrong when you start to be more concerned about the match officials rather than the opposition.
Oh, and Gollum’s got the Hibs Vs Dons semi: just reward for all his good work recently?
Lookin’ at the ole list of three legged dugs ridin’ to the rescue of the ole cash strapped Southsiders I see one’s called Blue , and the other two are called Billy.
Ten Men Won The League on 11 April, 2012 at 08:42 said:
FORMER FIFA ref Brian McGinlay reckons the only group as relieved as Celtic fans at their Old Firm triumph is the SFA.
Whistler Craig Thomson was forced to apologise for mistakenly knocking back a Celtic penalty appeal the last time he took charge of the big two at Ibrox.
But McGinlay claims the official’s display yesterday was all but flawless.
Flawless? it was a disgrace, Thomson cheated Mowbrays Celtic that day with a string of unfathomable decisions, his performance was on a par with Rev Mike McCurry at ibroke, recently that other full time official Steven McLean had a horror show at paradise in the home match with ICT, indeed his decision to red card big dan was overturned by the an SFA appeal committee, whether they are good or bad referees isn’t the main issue here, its the crony-ism and favouritism within the SFA referees hierarchy we need to demolish, some transparency is badly needed
Tony Stokes hit Belfast for a few quiet pints & a wee bet or two.
He was the toast of the New Lodge and the Falls,and by all accounts he carried himself like a proper Celtic gentleman.
Fair play to the bold Stokesy.
DBBIA
Thankfully Giorgious setup a Twister room for Broonie, Ki & Hooper. Otherwise the Ker-Plunk tower would have been booted oot the windae efter 5 meenits.
MWD
GLENN LOOVENS’ future as a Celtic player is in doubt as he counts down the weeks until his contract runs out in July.
Hoops boss Neil Lennon admitted he does not know if the 28-year-old central defender wants to discuss a new deal – or use the title-winning performance at Kilmarnock at the weekend as a glorious sign off.
The Dutchman has been at the club since 2008, when he joined in a £2.1million move from Cardiff City.
But the man who is one of the highest earners at the club has been troubled by niggling injuries and has struggled to hold down a regular place in Lennon’s starting XI, restricting him to only 13 appearances this season.
Loovens has come back into the side in the last two weeks, and had an outstanding performance at Rugby Park, scoring the second goal in the 6-0 romp that brought the SPL trophy back to Parkhead.
It was the fourth time of asking for Loovens, who has had to settle for runner-up medals in his previous three seasons at the club.
Lennon paid a huge tribute to the defender, and will now try to sit down with the Dutch internationalist to discuss his future.
On the prospect of a contract offer, the Hoops boss – who was in London last night to visit Stiliyan Petrov – said : “It is something that we need to look at, there is no doubt about that.
“I am not saying yes, can do it. I need to sit down with Glenn, and see what he wants to do as well.
“You know, he has been here a long time, and it might be that he wants to maybe finish his Celtic career a champion and maybe look at doing something else. But, we have not had a chance to sit down. Now that the champion-ship is out of the way, I will be able to talk to a few of the players out of contract and take things from there.”
Daniel Majstorovic and Darren O’Dea – who is currently on loan at Leeds – are also out of contract this summer.
Lennon has already recruited Jaroslaw Fojut from Polish club, Slask Wroclaw, on a pre-contract agreement.
But the manager will make no decision until he speaks with Loovens, who could have missed the title party at Kilmarnock for personal reasons.
But, with Rogne and Majstorovic out injured, he put himself forward to play and Lennon said: “I am really pleased for him. He came to me (before the game) as he had to fly to Holland because his grand-mother is not well.
“I thought he was terrific. He has been patient and, with the team winning, it was hard for Glenn to get in.
“But he was showing in training what a good player he is, and, in the last couple of games, he has been great for us.”
Morning Ghents
Don’t know if this has been noticed or not, but could there be a link betwwen Ringers (IA) and this. http://www.bbc.co.uk/news/magazine-17597489
We have been singing that this has been the case for a few years now and the Media and the Scientists ahve just picked up on it….they should have listened to us :-)
Amidst all the RFC stuff, are we witnessing another potentially huge story developing with the referees?
Dougie-Dougie. Dallas. Craven. Now Richmond. All either involved in shenanigans or directly affected by an apparent unwillingness to “toe the party line”.
I cannot actually remember Richmond as a ref (is this a good thing?), but it seems inconceivable his performance could have been worse than Collum’s (who twice in 12 months has awarded RFC three penalties in a game), and Callum Murray’s heroics at Ibrox a few weeks ago…
This is starting to smell. In the one area of football where incorruptibility, individuality and self-confident independence should be seen as a positive thing, we seem to have a cliquish, closed-shop, us-and-them mentality developing.
Since we won the league ole CQN has been pretty hardcore with regards the topics of debate. Rangers supports, Joe O’Rlurke and last night, Freemasonary.
So for today can I have all yours views on the following 2 topics.
1. The World – Is it Flat and Square with four corners or is it almost spherical like with only metaphorical corners?
2. Square or Links – what is your favourite sausage?
MWD
The world is links, it`s the sausages that are square.
Joe O’Rourke is one of the best.
Enough said.
I’d murder a pork sausage, ham sandwich, bacon roll :-(
Moonbeams WD. Kano \o/ Neil Celtic FC. We are the Champions. Ignore the WARTS. on 11 April, 2012 at 09:09
1: Oblate spheroid, nae corners
2. Round
Where do I pick up my prize?
The world is a great place, and worth fighting for – Ernest Hemmingway
It’s a small world. But I wouldn’t want to paint it – Chic Murray
A bright, pleasant morning here in North Ayrshire.
Don’t tell me cracks are appearing in the refs’ facade of solidarity!
WEDNESDAY 11 APRIL 2012
Closer to clarity, but plenty of work still to do at Rangers
Richard Wilson
Sports writer
In the next 48 hours, Rangers’ administrators expect to announce their choice of preferred bidder from the three groups trying to buy the club.
If an offer meets any clauses in Steven Naismith’s revised contract, Duff & Phelps would have little choice but to accept it.
Their decision will bring some clarity to the process that follows, as the Ibrox side attempt to find a way out of their financial predicament, but it is only a small step on the way to a conclusion. There are still several key issues to be resolved, which the following questions address.
Is the preferred bidder guaranteed to become the new owner of Rangers?
Not necessarily. If they pay for a period of exclusivity then Duff & Phelps, the administrators, cannot negotiate with any other interested parties. A new offer could still arrive at the end of that time, though, and if it represents a better deal for the creditors then Duff & Phelps are obliged to at least consider it. No deal will be binding until sale documents are signed.
So what is the purpose of naming a preferred bidder?
Duff & Phelps need to know how much money will be in the creditors’ pot before they can begin negotiations for a Company Voluntary Arrangement (CVA). They will be involved in discussions with the creditor committee – set up to represent all the club’s creditors, and probably led by Her Majesty’s Revenue and Customs and, depending on who is named the preferred bidder, Ticketus – and negotiations are easier when there is only one potential buyer involved.
Will Duff & Phelps take into account which bid represents the best deal for Rangers’ long-term health?
Their first obligation is to creditors, so they need to assess how much money each bid is worth. The Blue Knights have struck a deal with Ticketus that removes their £27m debt from the creditors’ pot, but if Bill Ng’s Singapore consortium or Bill Miller, the US tycoon, is named preferred creditor there is nothing to stop Ticketus offering them the same deal. The administrators will judge the value of the bids, how they are funded and only then what they mean to the business when it emerges from administration.
If Ticketus are not in the creditors’ pot, what is the likelihood of HMRC agreeing to a CVA?
This is one of the two critical issues still to be resolved (the other is Craig Whyte). Nobody outwith HMRC can know what decision they will make once presented with the offer of a CVA. There is an obligation to recapture as much money as possible on behalf of tax- payers, but their stance will be complicated by the outcome of the big tax case into the use of Employee Benefit Trusts (EBTs).
In what way?
If the first tier tax tribunal finds in HMRC’s favour, then Rangers will have been guilty of tax evasion, and HMRC do not tend to agree to CVAs in those circumstances. HMRC are also thought to be preparing or pursuing cases against a number of English clubs for their use of EBTs, and might consider that refusing to vote in favour of a CVA – which sends Rangers into liquidation – would send out a strong signal to these clubs to not try to avoid any liabilities from their use of EBTs. Dealing so firmly with a club of Rangers’ stature and high profile would also dissuade other football teams from attempting to evade their tax responsibilities.
So a CVA is unlikely?
There are counter arguments, particularly if a CVA offers a significantly better return to HMRC than the club’s assets being sold in a liquidation, when the proceeds are shared among the secured creditors before the unsecured creditors, which include HMRC. It is also clear that Rangers are integral to the financial health of many Clydesdale Bank Premier League clubs, although in the event of liquidation Rangers are expected to continue as a newco.
Is it a simple case of CVA or liquidation?
Essentially, yes, although there is room for manoeuvre. The administrators could, for example, move Rangers’ assets – Ibrox, Murray Park, the Albion Car Park – to a subsidiary company and sell that to a new owner. The original Rangers FC would still exist and hold the share in the SPL, but this could conceivably be transferred to the subsidiary, as long as the league agrees. This is what happened to Leeds United in 2007 when their CVA was blocked at the last moment by HMRC.
What role does Whyte have to play in all of this?
First, he remains the club’s majority shareholder, so must agree to sell or pass on his shares to the new owner. There has been mixed messages throughout the administration process regarding Whyte. Duff & Phelps at one stage described him as an “irrelevance”, which he is not, although Whyte has insisted he will not stand in the way of a new owner. But what does he want in return? Whyte claims to have spoken to two of the three bidders, but has not yet received an offer for his shares, which he bought from Sir David Murray for £1. As one of the secured creditors, Whyte must also sign off any CVA offer to the unsecured creditors. He also disputes Andrew Ellis’ claim to be owed part of the shareholding, but Ellis, too, has pledged not to prevent any sale taking place.
What about the players? Who makes a decision if West Bromwich Albion make an improved offer for Steven Naismith?
Until the club is sold, or liquidated, only the administrators have the authority to accept or reject bids. If a £2.5m offer meets any clauses in Naismith’s contract – negotiated after the players agreed to wage cuts – Duff & Phelps would have to accept it, although Naismith could still decline to move. The deal could be agreed, and money even change hands, outwith the transfer window, although Naismith’s registration would remain with the Ibrox side until June 1.
MWD
1. It’s my oyster.
2. Vegetarian.
Awe Maw
You been at it again?
McCoist admitted: “Stevie is doing really well we are not saying he has visited Lourdes but he is going for a scan today just to check up on his knee and make sure everything is ok.”
Lourdes Denial
googybhoy
I took that as Naisy having visited Lourdes … probably Carfin knowing how skint they are. Wonder what the bears will think of that. I suppose nothing if it gets him fit ;-)
Hail Hail
lionroars67@09:00
whether they are good or bad referees isn’t the main issue here, its the crony-ism and favouritism within the SFA referees hierarchy we need to demolish, some transparency is badly needed
I agree on the transparency issue and there is definitely something rotten witihin the referees committee at Hampden. I think it is Jim/John Fleming who is now in charge of the referees. He has not improved things one bit. Collum is the worst culprit. A spineless individual who gives decisions against Celtic to curry favour with his boss’s. How he is still a referee in any shape or form defies belief
The SFA needs dismantled from top to bottom
Ditto the the SPL with that bufoon Doncaster in charge
Hoopeddreams
X – OOOH OOOH
Vegetarian is not a sausage it’s a lettuce. I did not ask a lettuce question.
Why can’t CQN’ers not just stick to the point???
MWD Lettuce shhhmettuce.
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 11 April, 2012 at 09:31 said:
googybhoy
I took that as Naisy having visited Lourdes … probably Carfin knowing how skint they are. Wonder what the bears will think of that. I suppose nothing if it gets him fit ;-)
Do you think Ally has been to Fatima?
Aw_Naw/Googy
I think you will find that Naebalance went for an ATOS medical at Cadogan St and was told to get up and walk..
Lourdes has moved to Glasgow in case you didn’t know….
googybhoy ♥ Celtic and Integrity on 11 April, 2012 at 09:32 said:
Do you think Ally has been to Fatima?
Aye probably that time she was on Question of Sport.
James Forrest is Neil Lennon! We are ALL Neil Lennon! on 11 April, 2012 at 01:07 said:
++++++++++
Yup. Apparently (don’t know where I heard/read this) there are 8 EPL clubs and a number of others who used similar schemes to Renegers. And that’s only the football tip of the tax iceberg – there are obviously many other lines of business that have been pursuing these aggressive tax strategies for years.
A deal with Renegers and every one of those companies will send a ‘see you at the tribunal’ message back to Hector.
On the other hand, a liquidation of der orkenkind and an aggressive pursuit of an obvious phoenix newco (paye, nic and vat securities at the least) will see each of those companies, where possible, hastily opening their chequebooks and/or penning offers to Hector and his Moulinex crew.
My verdict on ALL the referees we see in the SPL is that they are ALL rubbish.
And they have been for years and years.
Is there one who stands out as being competent and honest? And they are backed up by extremely dubious assitants.
We see the refs in EPL making mistakes but they are generally of a much higher calibre than our bunch. The foreign guys who stepped in last season during the “strike?” were all gave performances of a higher standard to the mibs.
The mibs are an embarressment.