Football debts of Oldco, Newco and EBTs

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I see former Rangers player and EBT recipient, Nacho Novo, was speaking to the media over the weekend about the tax tsunami heading his way, which, apparently, has the potential to bankrupt him.

Over 50 players will be pursued for tax.  Each has a side contract, a condition of which is that in the event that tax is demanded from them in connection with their EBT payments, Rangers would pay up.  Under normal circumstances that would be the end of the story, Rangers, as it was, no longer exists to honour that commitment, but, as a condition of access to the SFA and Scottish Football League, Newco Rangers agreed to honour any football debts of Oldco.

The EBT recipients have been reluctant to rock the boat on the subject of their tax affairs, but that may be tested if the financial interests of former Oldco players and Newco diverge over this issue.

This is (another) one for the lawyers.

Given a choice, I would rather avoid playing a team on their first game with a new manager, as St Mirren will have on Friday when Celtic visit.  Oran Kearney joined the club last week after Alan Stubbs sacking, with Saints second bottom after a win and three defeats.

That win was achieved on the opening day of the season against Dundee, the only team below them, but they have scored once in four league and cup defeats since, conceding 12 in the process.  There is often a dead cat bounce when a new manager takes over.  You can expect bodies thrown into everything on Friday evening.

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273 Comments

  1. 2 Celts in tonight’s starting line up – Kieran Tierney and CalMac. Surprised that Wee Jamesie not on from the start.

  2. thomthethim for Oscar OK on

    GLASSTWOTHIRDSFULL on 10TH SEPTEMBER 2018 6:39 PM

     

    Surely not this Allan McGregor?

     

     

    *****

     

    No, that was Alan Mc.Gregor 1872.

     

    Sevco Mc.Gregor has no ban.

  3. BSR

     

    For the first time in my life I will not be supporting the country of my birth.

     

    Albania is a bit like Alba though. ;))

  4. BB

     

    Albania win and my ticket and night out in Paisley on Friday are paid for.

     

    FTSFA and EBT ECK.

  5. Let’s hope our bhoys returned unsatched after representing fsfa. The same sfa who lie and cheat us every week.

  6. thomthethim for Oscar OK on

    BOURNESOUPRECIPE on 10TH SEPTEMBER 2018 7:23 PM

     

    TTT

     

     

     

     

     

     

    Anybody but Celtic.

     

     

    ****

     

    As far as the SFA is concerned…….DE- FAN- ATELY

  7. Back to Basics - Glass Half Full on

    Glasstwothirds – tremendous piece if journalism on your part.

     

     

    Had completely forgotten the life ban for McGregor.

     

     

    A further indication of how the MSM has failed – not even a murmur in this.

     

     

    Bigbhoy – thanks for reply. To be clear – I have no specific “in” into Celtic Park but, it looks to me, as if Celtic have written off the SFA and aim to force reform via the SPFL.

     

     

    Doncaster? Regrettable but the price of doing bigger business.

     

     

    Hail hail

  8. Feck Scotland.

     

     

    Feckin tax criminal and jobs for the boys. Feck that

     

     

    Cheating bassas

     

     

    D :)

  9. hope our bhoys are not injured ….they will have my support …the SFA can go and feck themselves ….

     

     

     

    Braw

  10. SETTING FREE THE BEARS FOR RES. 12 & OSCAR KNOX on 10TH SEPTEMBER 2018 7:43 PM

     

    Albania must be some team if they can do without Sevco’s new £20m man Grezda

     

     

    ———

     

    He is injured.

  11. No Jamesy Forrest, wee man can’t be showing much enthusiasm in training as he’s the best attacking player Scotland have imo.

  12. I may need to have 2 tin hats on tonight then ;-)

     

    Still supporting the Team of the country of my birth.

     

    COYBIB

  13. So McCleish plays Celtic players against Belgium one of the top teams in the world and considers that they never done good enough and drops them against Abania.

     

    That is one Sleekit barstwerd.

     

     

    Come on Albaniaaaaaaaaaa.

     

     

    D. :)

  14. Imo, the fewer Celtic players called upon to play for any International team, the better. I used to hope (probably still do, if I’m honest) that Scotland would do well. But playing McGregor after what he and Ferguson were banned for, is hard to accept. Has no journalist raised questions about this?

     

     

    Scottish football gets poorer by the season. And it is not only because of the wealth south of the border. Wee Barry was praising his old team for becoming nasty again (after his pal McGregor was caught kicking Ajer). Awful mentality. He was a football player himself too. I suppose he knows the MIBs are going to let Sevco get away with all sorts of “nasty” to try and stop us winning the league.

  15. Did embdy in the meeja ask “Greegs”……. *boak*…about the ban an’ gesturin”?

     

     

     

    Naw?

  16. Bankie

     

     

    Amnesia is rife in Scotland today. Watch it grow as the EBT cheats get questioned bout their Ibrox earnings.

  17. John Souter shocked as thuggish knee into the back of Albaniaian draws a yellow. Not playing for Hearts tonight pal.

  18. Nice to see that the rats are breaking cover and squealing about how unfair it is that they have to pay back HMRC for money they stole.

     

    Once they have all been bankrupted the next thing I want to see is the stolen trophies and medals taken back

     

     

    Cheats actually doesn’t cover it .