Just a few days after the Blue Knight’s offered Craig Whyte £500k for his shares in Rangers Our Hero sold to Charles Green, who is now owner of the embattled football club, for £2. Craig has doubled his money in a year after buying Rangers for £1 last May, but as he accepted a bid for his shares a quarter of a million times smaller than that of the Blue Knights, curiosity has peaked.
For many months Celtic Quick News has billed Craig Whyte as the only show in town, that he would only sell to someone who paid his substantial asking price, or who was his proxy. No one is suggesting Whyte has pocketed £2 for his trouble and dropped off the scene in a sudden bout of benevolence. There is clearly tons we don’t know about this deal.
We’re grateful to Paul McConville for his research on Charles Green today. I am sure Paul only spent a short time researching the subject but it was nonetheless a fruitful endeavour.
I may have missed specific reference to his security over Ibrox but Mr Green does not have the disposition of someone who owns a football club without a ground, so it would be reasonable to assume that Whyte’s security is now in the control of Green. In time we’ll find out how these assets changed hands but I suspect nothing will be said publicly on this subject for now.
Craig Whyte did not start the Rangers crisis, he never had an EBT from the club and he repaid all of Rangers bank debt. He has been enormously entertaining during his 53 weeks in charge and, from the little information provided on the 20-or-so mostly-anonymous venture capitalists who now own Rangers, he has passed the club onto what looks like an equally rewarding group of people.
If nothing else, he parted ensuring what is left of the club didn’t get into the hands of the Rangers support, accompanied by a pushy investor with deep pockets.
Cheers for that, Craig. Once this blows over, we need to get you in for the Paradise Windfall.
I’m still freezing. Hug a radiator CSC.
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No change re the Green Mottley Crud – still no CVA and liquidation is back on the menu (not that it was ever off).
We’ve all discussed the implications of a Newco to death, but for those worrying about a Newco, a share issue and hunners o mullions to spend, spend, spend…
A Newco will work minus Champions League or Europa Cup money.. RFCIA have made around £50m from Europe in the last 4 seasons.
A Newco will, assuming all old deals are scrapped, need to tie up new sponsorship deals with the knowledge of no European football exposure and also with the uncertainty over future years (in comparison to previously, one can only think the future is not particularly bright if you’re of an orange persuasion) – a hard sell.
A Newco will most definitely be asked by HMRC to pay Tax, NIC and VAT deposits – likely to be based on assessments of current and likely turnover – crippling doesn’t even come close for the all important first season.
Oldco could barely give shares away when they were winning trophies; what chance when they are not?
But more than anything:
Rangers != 1994 Celtic.
Back then, Celtic were a run down club requiring restructuring. We were playing in front of 18-24,000 fans in the main and there was huge potential for numerous additional revenue streams over and above the possibility of an extra 30-40,000 fans turning up every other week.
Rangers have already maxxed out their potential – they are as big as they will ever be. They have already had their merchandising reach it’s highest point, their sponsors the same, the executive boxes are selling as per. What and where can they go from here?
In 1994, Celtic had the potential to double, triple, quadruple in size; Rangers have the potential to, at best, remain static. I say ‘at best’ because to get to where they’ve been this last decade, Rangers have resorted to using EBTs, providing discounted share options and selling ‘futures’.
In all honesty, I think if they don’t want this same mess again, and they’re looking at running the club with around half our turnover, you can only see them becoming another Aberdeen, just with a bigger stadium.
Can you imagine the ignominy of having to close a stand to save money?
Disgraceful minimal grudging coverage by BBC coverage.
Saddos.
Apologies if this has been asked earlier. Where was Daniel Majstorovitch today?
He didn’t appear on the big screen at the end of the match and I did not see him on the pitch.
LOL Sportscene trying to sell Hooper, desperate much?
According to Billy Dodds on shortbread today one of the orcs goals was goal of the season!!! Not sure about that one Billy!
Why we on 2nd btw???
Apologies for another THEM rant in my last post.
Today was all about Celtic. Despite the crappy cold, wet, windy weather, our bhoys came out of the traps at a sprint and demolished what may be considered by many as the 2nd best team in Scotland. Gary Hooper was a well deserved MoM as he ran, harried and finished some superb goals. As expected, the Hearts players resorted to the niggle and we received no protection from the officials.
Standout decision for me was when the ball went out of play in front of the North Stand during the 1st half. Ref couldn’t see cos too many players in the way. Looked to the assistant who was non committal due to being too far away. Default decision was NOT to give it to Celtic. Rest assured, any SPL without them will be made competitive by the officials.
Loved the singing all afternoon. Hope Peter Lawell understands the ‘No to Newco’ sentiment. Best bit was Neil planting the trophy on the turf in front of the Green Brigade. You could just feel the connection between the fans, through the manager, to the club.
Few beers in BBs after getting soaked and chilled on the way. Not sure this summer football stands up to scrutiny in Scotland.
Time to plan the viewing schedule for the Euros and to get hyper again at the thought of Champions (untainted) League football.
S
Raymac on 13 May, 2012 at 22:43 said
Not to mention their ridiculous kick-off times.
BBC Scotland……I get so irate I can hardky think straight.
We’re still CHAMPIONS,and NOTHING will put a damper on a great day & a great achievement by NFL and The Bhoys!
Now get yourself a song to sing and sing it ’til you’re done
Yeah, sing it hard and sing it well
Send the robber barons straight to hell
The greedy thieves who came around
yoooooooooooooooooooooooohaaaaaaaaaaaaaaaaaa
http://www.youtube.com/watch?v=TsjjE8jXDts&ob=av2n
Just turned off Sportscene. Craig Patershun “Celtic may be forced to sell” (Gary Hooper). Stupid, stupid hurtin hun.
So Sportscene have Hoops sold already, FFS.
Paul
I didn’t think I could be much happier than I am just now, you have just cranked up my elation to a whole new level.
Muchas gracious :>)))
Listning to this chancer Green just now.
So far he has mentioned
Money Laundering
Drugs
Prostition
A match made in hell…….
BBC Scotland Sports department taking spitefulness to a whole new level….they need a clearout!
T4
Why are the Champions jammed in between 2 meaningless games??
Big J D Just scored!!
aldersyde avenue
Was wondering that myself thought Big Dans absence was wierd. Does anybody have any idea who the 4 blokes walking about with brushes and wigs on at half time were?
Slán mo chairde.
Tá mé ag am amach chun aisling.
Mc leans had that shirt on for abt 2 months now!! Nice colour tho!!!!
Tricoloured ribbon
imo no chance of a CVA
even if so what about big tax case debt …
i will be surprised if anything comes of this ……there is every prospect of them disappearing altogether
if they survive they will be in penury for years
good either way
Shady :where were u in bbs?
Its all very clear now. Everything is going according to Craig Whytes plan from the beginning. He has put the major assets (Ibrox & Murray Park) into his own company so the shares he has sold to this new consortium does not include the major assets. The consortium are in cahoots with Craig Whyte. A proposed CVA will be refused and they know that, so Rangers FC will have to be liquidated which means all their assets will be sold off to pay the creditors. A Newco will be formed and Craig Whyte will “donate” the use of Ibrox and Murray Park to the Newco whilst retaining ownership of these assets (which he got for nothing). The new consortium will have a debt free Newco Rangers FC (which they got for nothing). The only “fly in the ointment” is Ticketus who will no doubt sue Craig Whyte for knowingly deceiving them out of 27 million and I’m sure the Tax office won’t be too happy with this arrangement either.
Have to say that wee Hooper is one of the best finishers i have ever seen.
That goal he scored against them in their own midden was sublime,despite the result.
sixteen roads to Golgotha,the flights still are on,if you get in early they can be very cheap.
i see ones talking about BBC scotlands coverage – we all know that is pash poor
Sky used to be good – used to be – Jim White is the head man on SSN for Scottish football – and his mate tanner is the head man for any live Sky coverage
John Hartson or Gordon Strachan or even John Collins have never ever been on sky, just Espn
McCann is always on Sky – Charlie 10 faces always makes it on sky when there is a Glasgow derby
why is that
Boul of Soup – dont mind if i do
craig patterson clearly hurting lol
“there’s more to life than football”
dry your eyes craig :)
JimmyQuinnsBits on 13 May, 2012 at 22:36 said:
Glad you’re happy – thinking of the sentiment of your Boss vid, this is the only guy I can think of who is so openly insane as the purported buyers of our former rivals:
http://www.youtube.com/watch?v=5GMoLENWsSk&feature=fvwrel
S
Angelus…they were Elvis impersonators. No idea what it was all about though. Maybe they where putting together a consortium.
Why didn’t BBC get a celtic man in the studio on Celtic’s title party day?
Oh, sorry,…..silly question.
Tricoloured Ribbon on 13 May, 2012 at 22:40 said:
There were some amazing characters among the BISLEY BOYS.
I will be one of the few people left in this town who can remember a Bisley Boys team playing against a team of German prisoners-of-war on a Sunday morning at the old gravel park behind OHR chapel.
The Germans came down unaccompanied from their camp up behind the Cochno Road & travelled down on the wee single-decker tram from Hardgate Cross.
It is hard to believe that this is all part of the same lifetime.
God bless all the great Bankies, Donegals favourite sons.
Guys, cut BBC some slack. They will no doubt END with the champions – inc. extended celebrations.
they are showing the last ever hun game first as they,ll all want to slink off to bed before the goalfest/gloatfest.
timbhoy2;
perhaps it depends where we sit.I am in north stand bl 105 row AA and it certainly didn’t seem to compare to 88 or 98. Again, perhaps we’re comparing it to title winning days.
So it’s Lenny’s fault for wimming it too early!
garygillespieshamstring on 13 May, 2012 at 22:54 said:
Yes – on high stools at the bar hatch.
Bit sheepish at first as I couldn’t remember much of the latter part of being there after thems game. Always a bit paranoid in case I was a p***k like I can be after a few.
Good boy tonight though, on the 12 back to Ruggy by 8.
S
can anbody put up the links for BBC Scotland?
(just making sure im not using the white text ffs)
coorslad on 13 May, 2012 at 22:55 said:
They are great value mate,we used to get them from Belfast to Prestwick sometimes for a tenner each way,then the train into Glasgow was only a fiver.They don’t fly from Belfast no more tho.
Those boats are a nightmare mate,it’s ok when you are a kid,nothing phases ye.But i can’t be annoyed with them anymore.
I am glad that the wee ones enjoyed their visit to Paradise.
Craig Patterson is correct in stating Celtic invest and they put a distance between themselves and RFC that might never be made up…
I’d settle for retaining:
Matthews
Mulgrew
Izzy
Kayal
Vic
Sammi
Hooper
Commons
Forest
Stokes
Ledley
Rogne
Loovens (contoversial but I rate him)
Tony Watt
Dylan
As ever a goalie and a centre forward required and we are ready to go!
Makes sense to have Celtic first or last. The decision to put Celtic second after a disgraced Rangers simply tells that they think now as thy always did and always will.
Listen, it didnae matter if it was Charles Green, Al Green or Hughie Green certain things are going to happen:
1) The appeal on Wednesday will see the earlier tribunal upheld BUT the penalty will be reduced. I suspect the transfer ban will be ‘suspended’ for a period of time.
2) The ‘newco’ will be admitted to the SPL next season.
3) Sanctions will be limited to a 1 yr ban from Europe.
I don’t ned to be Nostradamus to reach those conclusions. It’s the Huns we are talking about and the establishment will protect them.
PFAyr
I agree – a few major hurdles that are unlikely to be cleared and even if they are we face a limping RFC for years..
Great either way..
Oooooh, I’ve got BBC on pause so I can catch up on here. Sounds like it’ll be the usual riveting performance. Can’t wait.
S