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. BSR

     

    John McGinn looking like a Bankies Juniors player tonight. Baffling.

     

    Calmac and him don’t work in same team.

  2. Surely if Griff is even a slight doubt through injury, he should not even be considering playing tonight.

  3. Gene 7.51pm

     

     

    Regarding the Orange goalie strip worn by the now not banned one.

     

    My pal says there’s nothing that colour on the web site . Personal taste allowed ?

  4. The Honest Assessment on

    For all Robertson is a very decent player, since he got the armband he has been dare I say it, brutal.

  5. THE HONEST ASSESSMENT on 10TH SEPTEMBER 2018 8:57 PM

     

    For all Robertson is a very decent player, since he got the armband he has been dare I say it, brutal.

     

    ……………………

     

     

    You took the words right out of my mouth. I think he’s trying too hard and putting himself under pressure. I want him to succeed because he’s such a major Tim.

  6. TOSB

     

    Was great hearing from Klopp that all Andrew Robertson and Virgil van Dyke talk about at Anfield, is Celtic.

     

    YNWA

  7. The Honest Assesment absolutely

     

     

    That was my attempt at humour, ano its pish.

     

     

    Hail Hail

     

     

    D. :)

  8. saltires en sevilla on

    Scrappy 2nd

     

     

    2-0 Scotland….

     

     

    Must be a rake of Tims playing

     

     

    How does that actually work? ?

  9. Good night all.

     

    Hope all Celtic players arrive back at club training with no ill effects from tonight.