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. Big Georges Fan Club - Hail, Hail, Wee Oscar on

    Does anyone have the sligjhtest idea what formation Scotlands are playing (as it goes 2-0).

     

     

    Saw the right back (O’Donnell?) running up the right wing, across the 18 yard box, out to the left wing position, ambled back to left back, then across to right back again.

     

     

    KT covering all postions from right centre-back to left half.

     

     

    How JR gets on ahead of the Griff is beyond me.

     

     

    McGinn has been pants (sorry DD).

     

     

    Some decent players in the Scotland squad, but the manager is a balloon.

     

     

    McGregor best man on the park.

     

     

    Why no Jimmy (but not upset if he doesn’t get on).

     

     

    HH

  2. Turned it over to watch missing on BBc1, which is where Sevcolad will be from next euro championships.

     

     

    To all youngsters watching Sevcoland don’t cheat like the manager and the football association.

     

     

    HH

  3. Big Georges Fan Club - Hail, Hail, Wee Oscar on

    McTomeny (sp?) coming on – no injury worries for Wee Jimmy F – good stuff!!!

     

     

    “Diabolical” – David17, that is a good word to describe them.

     

     

    As McLeish reduces the Tim component – takes off the best player….

     

     

    HH

     

    BGFC

  4. BGFC

     

    Posted earlier that John McGinn looks like a Clydebank Juniors player tonight. Bullet dodged?

     

    Naw.

     

    He will play for Celtic sooner than you think.

     

    My Nostradamus prediction, wi a wee bit of local knowledge to back it up.

     

    Homesick in Birmingham rumours flying aboot Clydebank tonight.

     

    YNWA

  5. Wee Nacho has applied for the vacant managers position at Raith Rovers.

     

    Two ex Celts are amongst those that he is competing with.

     

     

    Barry Robson & Massimo Donati.

     

     

    WGS has put in a good word for BR.

     

     

    TT

  6. Delaneys Dunky

     

    He is too lightweight.

     

     

    Glad we didn’t sign him.

     

     

    He showed his true colours .

     

     

    Time to forget about the wee gold digger.

     

    TT

  7. I hope Nacho the rat doesn’t get the managers job at Raith Rovers and that his next shit is a hedgehog

     

     

    D :)

  8. TinyTim

     

    Sounds like he has made his Birmingham bed and misses his Clydebank bed more than he thought he would.

     

    YNWA

  9. Big Georges Fan Club - Hail, Hail, Wee Oscar on

    Wee BGFC just told me Albania beat Israel – how crap are Israel ?!?!?

  10. A good performance and victory. Commiserations to Danso_1888, Delaney’s Dunky, David66 and Leftclicktic.

     

    4 more sleeps till we all reunite as a support ;-)

  11. Big Georges Fan Club - Hail, Hail, Wee Oscar on

    Hi DD – on tonight’s showing – dodged bullet…as the final whisle goes.

     

     

    Wee BGFC seems delighted, so that’s nice :-)

     

     

    HH pal

     

    BGFC

  12. saltires en sevilla on

    Scotland now 7 competitive games undefeated.

     

     

    Far, far far far far too many Tims being selected for these games.

     

     

    JeezoCSC

  13. Well done Jobo.

     

     

    Unfortunately for me and my family, Sevcoland as I like to call them are a lost cause.

     

     

    Far too much cheating for my liking.

     

     

    I sincerely hope they never win another game.

     

     

    Sorry just my feelings

     

     

    D. :)

  14. re: McGinn

     

     

    One mistake that many of us make (myself included) is to forget how young these kids are …. sure they are getting paid a piss pot full of money, and some of them have traveled all over the world … but most of them are still just that … kids…

     

     

    and in the case of JMcG, he is what…23? When I look at my nieces and nephews, I remember that 23 is still really bloody young …

     

     

    I think I was in law school before I lived away from my parents…. I was older than 23.. and it was still a big shock to the system … the first term was terrible…. I missed my family big time…

     

     

    so, if the kid thinks he has made a mistake, he wont be the first kid, and he wont be the last ….

     

     

    in time, he may settle down south… but if not, and if he thinks he made a mistake, hopefully, he can fix it ….

  15. Jobo

     

    Well done EBT ECK’s team.

     

    Sorry for the first time in my life, I have not supported the country of my birth in a competitive match. Cannae support FTSFA Joe.

     

    I respect your position my friend of course.

     

    YNWA

  16. MIT I wish I could claim that I made it up, but someone sent me a longer version on whats app

     

     

    ?.

     

     

    D. :)

  17. saltires en sevilla on

    WGS …

     

    “….wee group know how to play …. all played at the same club …”

     

     

    Likeisay – far too many Tims in this Scotland team.

     

     

    ?

  18. BGFC

     

    If G is happy, his uncle G is happy.

     

    Peace and Love.

     

    Great Pogues album I am listening to now.

     

    Get it on!

     

    YNWA

  19. MIT

     

    Nice words wise man.

     

    Hope John McGinn finds himself in Birmingham.

     

    Great kid.

     

    YNWA

  20. This will boil down to whether the tax liabilities of former Oldco players constitutes a football debt in the eyes of the SFA.

     

     

    I’m not holding my breath on this one.

  21. Big Georges Fan Club - Hail, Hail, Wee Oscar on

    DELANEYS DUNKY on 10TH SEPTEMBER 2018 10:17 PM

     

    Hope this favourite of mine works.

     

    https://youtu.be/n-y2ox2HPnc

     

    =============

     

     

    It did indeed – some sick puppy comments down below the video (don’t bother reading them).

     

     

    Good song – going to learn it.

     

     

    HH

     

    BGFC