It has been another busy news day but for now we’ll concentrate on the two most important matters.
10 SPL clubs, excluding Celtic and Rangers, have arranged to meet next week. This is the most significant news since Craig Whyte bought Rangers in May last year. One SPL chairman told the BBC:
“With the Old Firm having talked in the past about leaving Scottish football, we have had to think about a future without them.
“Part of that situation could be about to come true, so we have had time to think about how we would get on without them.”
The smaller 10 SPL clubs have a once-only opportunity to redraw the power and financial map in Scottish football. They want more of your money and this is their chance to get it. They also want to be able to vote crazy ideas into the league that benefit teams without many fans or good players.
This is perfectly understandable and expected. The distribution of TV income currently favours successful clubs, who are invariably featured most often. Smaller clubs want to change this into a more equitable distribution model. You and I will still buy the overwhelming majority of subscriptions, but our club will receive less cash from the TV deal.
“Part of that situation” refers to an SPL without Rangers. This meeting is likely to end Newco Rangers hopes of getting straight back into the SPL in their tracks. Without knowing the numbers in favour of a change, this looks like the killer blow, delivered before any proposition from Craig Whyte reaches the agenda.
We have discussed the need for Whyte to present a fait-accompli in order to get his wish. Having been unable to do that, others had the opportunity to organise and make alternative plans.
The other important occurrence today was the attendance at the Rolls Building courts in London today by HMRC lawyers, keen to secure any monies seized from Collyer Bristows’ client account last week. HMRC have made it perfectly clear they are all over Duff and Phelps and will seek court intervention to secure their rights.
This is significant.
You can make what you like about a more even distribution of SPL TV money, or the possibility of being held to ransom in future by bad teams who want to vote themselves out of relegation, but the only thing we know for sure is that this has been a profoundly bad day for Craig Whyte and anyone else hoping to phoenix a Newco Rangers.
In light of today‘s developments, Mr Whyte and the administrators have some thinking to do before announcing any plans tomorrow.
Issue six of CQN Magazine, the Fit and Proper edition, is set to become a landmark collectors item. You can browse the magazine online here but you can buy your own hard copy by clicking on the link below. Read with 20-20 vision…..
You can support the online edition by making a discretionary donation here.
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Tom McLaughlin on 9 March, 2012 at 08:51 said:
ibleedgreenandwhite1 –
You are letting media lies upset you. Don’t fall for it.
I know you are right m8,,,but in my heart of hearts i have always suspected they would get away with it!!
Hail hail
ibleedgreenandwhite1 on 9 March, 2012 at 08:41
File that sun story wae the “moneys already in place for the the ibrox Sapporo Dome”
and £750m casino and joost next tae Motherwell born billionaire.
The media line this morning seems ridiculous, would HMRC comment on a fabricated story?
I love this spin from D&P it’s just hillarious.
“In all likelihood, whilst there is a security that remains on the public record in favour of Craig Whyte, my view is that that security has no value.” (my view is we don’t know for sure).
“He said Ticketus had a “different claim”, which is the right to three years’ worth of season tickets “and that’s something we are trying to resolve with them” (aye and Ticketus want upwards to 20Mill to “resolve” things).
“”Whether that deal is a 10 per cent deal, a 50 per cent deal or a 100 per cent deal over a period of time, that’s all up for grabs. I don’t suspect it will be a 100 per cent deal. (hee hee ha ha love that last line)
“The deal is only on the table for new owners and NOT Craig Whyte. He has treated HMRC with contempt.”
This is funniest of all, they are acting like HMRC are a girl waiting for her debs date and he’s half an hour late picking her up!!! Craig Whyte is a pimple on the bum of the problem that is Rangers and he had no hand act or part in the BTC which is the real issue. That’s why HMRC sent lawyers to yesterdays hearing to get 2.8 million from Collyer Barstow. Think about that they sent lawyers to try and get 2.8 million yet they will be willing to accept as little as 4.9 million for the BTC!!!!! Oh my aching sides.
The MSM have outdone themselves this morning.
So if all the players have agreed a swingeing pay cut, will the savings be used to keep Cheats FC limping on rather than paying the tax which they’ve been dodging and subsisting upon for this season alone? In what universe is that not classified as “bent beyond belief”?
The MSM have to show bi-polar tendancies on this or no-one would buy the rags. If the story was to remain the same and it was only a matter of monitoring the patient through life-support to the inevitable end thir readers would be too bored all too quickly.
Instead, by sprinkling the story with twists and turns, half truths and rumours and mis-interpretations, they can spin their tales, make their headlines and try to make this more like a Danish police drama keeping the viewer hooked for all 22 episodes.
A Celtic FC Movie
TinyTim on 9 March, 2012 at 08:41 said:
Paul67/anybody.
How would it work if Celtic were to buy Portsmouth?
Pretty sure the FA put regulations in place to stop this happening after the Wimbledon/MK Dons situation.
greenmaestro – let’s hope it IS “The Killing”, then.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 9 March, 2012 at 08:55 said:
IBLEEDGREENANDWHITE
You sound just like my sister did after reading PAUL67′s previous article.
I put her mind at rest,allow me to do the same for you.
They are right-royally screwed,and despite every option being tried-as any cornered rat will do in such circumstances-it is not only delaying the inevitable,but hastening their realisation of their fate.
The lifeboats are gone,the widow’s son’s clarion calls ignored,political interference brushed aside,and the MSM shown up for the ineffectual arses they are.
Short of an idiot millionaire prepared to cough £150m into a moneypit as a prelude to losing a lot more,they are gone.
For good.
Cheer’s for trying to calm me down Bobby (i have the rant out of my system now) ,,,but i would appreciate it in future if you would not be so patronising in your tone!!!
Hail hail
how many ranjurz players were transfer targets during the window when everyone knew that any reasonable offer would do? NONE. Jelavic was sold after someone was employed to tout him.
Whittaker and Naismith have agreed deals for different reasons, Naismith has no choice, Whittaker has probably had a reality check.
Fact is that if the players are being paid 25% of their previous salaries you can’t expect that they’ll put themselves about.
Are STs for next season on sale yet?
Any sign of ‘ranjurz news’?
The up side of all this media nonsense is that it raises the hopes of the Huns to completely unrealistic levels and it will be even funnier when they come crashing back down again with a big bang.
My view is that this mornings story say more about the pressure D+P are under to discharge there responsibilities to proper codes of practise than anything else. Clearly D+P have to prove they have been actively trying to reduce cost and save the company which is there key responsibility and have to explain there actions for last 3 weeks.
Remember what the QC representing D+P said in court of law yesterday. Basically contradicting the D+P later statement. So which do you choose to believe
Naismith and Whittaker, are the fraudsters paying their wages at present? i thought clubs were insured for long time injuries.
Lies and more lies from the media this morning, a Hollywood script writer would be hard pushed to come up with the lines the fraudsters do.
Celtic 2 DU 1
KTF
Craig Whyte, the Whyte Knight, the MBB NOT fit and proper WNY?
I’m not standing for this Whytewash! They have given no reasoning for this, have allowed him 7 days to reply yet have found him guilty in the meantime.
Let’s do something Lord Nimmo Smith has been doing the last few weeks and examine some facts.
Mr Whyte was deemed F&P a year ago, since then some unsavoury things have come out about past conduct, now this was in the distant past and has been a matter of record for sometime, so it can’t this.
Now his takeover of RFC a year ago there has been various allegations around mismanagment, non payment of taxes, selling of RFC assets going into other group company accounts and failure to deliver on the RFC share sale agreement – so questions should rightly be asked.
However there has been a number of allegations from the aul’ switcheroo to criminality, none of this has been proven and they seem no worse than allegations circling about other RFC ex-boardmen who have been deemed F&P for many years.
Now if we assume it’s not Craig’s past or wild allegations of misdemeanours outwith Football the fact seems to be it is his time at the Helm of RFC.
We are somwhat blinded to the deal that saw MIH’s majority shareholding revert to the Whyte Knight, the deal was covered by NDA and other confidentiality agreements, that could be preventing the MBB placing the mitigating circumstances in the public domain.
So I’m going to have a stab at his defence, I’m sure he’ll be delighted about that;
Now he buys SDM’s majority shareholding for a nominal £1.00, why so cheap, well the company is distressed, it has undefinable liabilities and he has taken certain undertakings with regards investment.
So the Metallurgical Knight grabs his quid and sets of into the snset.
So the Whyte Knight comes in to sort the place out bringing in his own professionals and advisors. Now things are not well at the big hoose now he’s had a better look, he’s advised that the BTC is not winnable as he had been previously advised and is somewhat larger than he thought, then in connection with this some high earning players were on decidedly dodgy contracts and the Clubs revenue streams were not as secure as discussed.
Under these circumstances he takes the not unreasonable stance of believing that he has grounds to question the validity of the deal and revises is undertakings. Of course due to confidentiality this must remain stumm.
So he pays off the debt to the Club’s Bank from future revenue streams (Ticketus), not unlike a previous Chairmen had done with the merchandising (JJB). Gets a huge monkey off their back.
He then refurbishes the catering facilities to get in the prawn cocktail brigade to improve future revenue streams/margins.
He re-negotiates Football contracts with the players on what he has been advised are dodgy contracts, signing up the quality players on long term contracts improving RFC’s compliance and asset value at a single stroke.
He purges the Boardroom of the people who are still left that put the club in this perilous position with the civil and footalling authorities.
Now Paul67 did a fine piece where it all went wrong for the Whyte Knight but suffice to say that legal, commercial and footballing situations he inherited had made things unviable.
Now he is at a crossroads does he continue with his good works which will need extra cash – we know it’s there in his Solicitors accounts (as the world and his wife are claiming it’s their’s) – or does he go into administration to allow a complete restructuring of the Club, on balance he takes the brave and correct decision.
So we need to know why this Ranger’s Director has been singled out, this righter of wrongs who is a creditor of RFCIA, and yet the Football authorities, the media, ex-RFC Directors and D&P who should be looking after his interests are making him the fall guy , why? Transparency, we need to be told either that
OR
Free the MONOCO ONE!!!
CSB 9.02
Yes that avenue is now closed. Wimbledon was our only chance to go down that route.
IBLEEDGREENANDWHITE 0903
Honestly,that wasn’t my intention.
My apologies…..
Tom McLaughlin
Celtic cancel a scheduled press conference to promote their quarter final game in the premier tournament organized by the SFA, the same day as the SFA release their “findings” on RFCIA and CW. I think we are entitled to think that something is afoot. Since this saga unfolded, Celtic have always said that they cannot comment on things going on with them, and insist in getting on with their business.
Regans’s statement reads as gibberish anyway. The para where he states that CW is not fit and proper reads like a schoolboy howler to me. They had time to prepare this too.
I think that Celtic may be making their own statement in response to the ten other SPL clubs arranging a meeting without Celtic. I mean, were Celtic just not invited? I can see why RFCIA were not invited, but why Celtic? What is it that Celtic have done to be deliberately excluded by ‘fellow’ SPL clubs like this? It’s like the guys in your team having a meeting without you, you might think that they’re screwing you over a wee bit!!!
HH
RWE CSC
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 9 March, 2012 at 09:06 said:
IBLEEDGREENANDWHITE 0903
Honestly,that wasn’t my intention.
My apologies…..
Forget about it m8 :D
Hail hail
From this minute on I’m no longer going to be consumed with the demise of the huns. What’s going to happen will happen. With that said I hope they rot in hell.
Next they’ll be telling us the Ibrox Super Casino plan is back on…
CRUSHED NUTS 0903
I hope the nice boys who are only receiving 25% of their AGREED salary have been sensible with their previous 100%.
Because they’re still liable for 50% of that in PAYE!
they’re on the ropes, gasping for breath, no energy to lift a glove, keep them there until the 25th, and we will knock them out forever.
I don’t think there is/are any restriction/s on the share holders of Celtic FC buying a club in England. None at all.
Marcasog on 9 March, 2012 at 08:36 said:
saltires en sevilla on 9 March, 2012 at 07:26 said:
Good Morning fellow Celts from Dushanbe, capital of Tajikistan the alleged jewel in Central Asia’s crown, where I am on the Borat donkey express from Dushanbe Central to Khujand. Open brackets.
Reggie Perrin similarities are interesting. Both took a bath, except the boul Reggie never came back. I fear the Currants will reappear oot the sea. Can you hear the Jaws theme music starting up in the background?
HH
DBB
Tom McLaughlin on 9 March, 2012 at 09:04 said:
The up side of all this media nonsense is that it raises the hopes of the Huns to completely unrealistic levels and it will be even funnier when they come crashing back down again with a big bang.
____________________________________________________
How can a Mhan be so cruel?
Your right ,hun next to me just said “we’re being saved ,Champagne
and caviar ,when Ragers survive.
Ignore me Ghuys,,,i feEl like the woman from the movie Airplane,,,you know the one that all the other passengers queue up to slap in the face,,the hysterical one!!
Yup that’s me :D
HAIL HAIL
79caps on 9 March, 2012 at 08:47 said:
SFA Hall of Shame
Willie Woodburn – Rangers player who was banned for life
Bill Struth – Rangers manager who for 34 years practised a policy of religious discrimination
Terry Butcher – Rangers player convicted of disorderly conduct and breach of the peace
Andy Goram – Rangers player who was (is?) a friend of terrorists
Walter Smith – Rangers manager complicit in financial cheating over many years
Why should the memory of Jock Stein, Jimmy Johnstone, Denis Law, Bill Shankly, Matt Busby, John White, etc. etc. be defiled by having such company in the Hall of Fame?
…………….
In Bill Struths bit you forgot to add mibbies aye, mibbies naw murdered his predecessor to get the Managers job!
ibleedgreenandwhite1
The media are always at it, don’t let them fool you.
Remember when they said there was no big tax case, then there was but it a misundertanding and would get settled before going to court.
Do you remember the media telling us that Craig Whyte was a billionaire who would save the club and pump millions into the playing squad?
Do you remember them telling us there was no chance of administration?
Do you remember the day they announced an intention to go into administration and it was all the fault of the “big tax case”, before they were rumbled and had to admit it amounted to unpaid tax from Whyte’s tenure?
The media have always played the game of playing up to Rangers. What they say now matters not a jot.
HMRC have not yet commented because they don’t comment on ongoing cases. They hold their own counsel but there is more at stake than just Rangers.
Rangers have already been accused of not paying PAYE/NI on players wages since May. That’s financial doping in anyones language as they could pay a player £10k a week, that player would receive £10k and it would only cost Rangers £10k. For any other team to pay a player £10k a week, it would cost £20k (assuming 50% tax for higher earners). HMRC were treated as a bank. We won’t pay you now but if we get in trouble sure we’ll agree a deal to only pay x%. How does that sound tax man?
No chance. If HMRC were seen to endorse this, why would anyone pay taxes. Man City for example have a £133m wage bill. If they decided they weren’t going to pay taxes like Rangers they could save £66m there and then.
It makes much more sense financially for HMRC to take a hit on Rangers debts, make sure they are liquidated, gone and so they serve as an example rather than allow others to follow suit.
(And this is even before the big EBT tax case)
Put your mind at rest, HMRC will not do a deal.
The media will tell you what they think the huns want to hear.
Mort
reilly1926 – I say that every couple of hours but I keep coming back for more. It reminds me of the run up to Seville, all consuming.
Anyone got any visibility on an apology from Rankers yet? Anyone? Bueller? No?
I wonder what view the judge from yesterday’s hearing will take when Dumb and Dumber prostrated themselves on the courtroom floor, begging for mercy (and the dosh) because the club was going to fold immediately. Then came out and told the world that they have a qeue of billionaires lined up, all players taking a wage cut, Rangers are on a brilliant footing, HMRC dont want any money after all and all their problems have disappeared. Lashings of ginger beer and cwisps all round.
I hope he slaps their legs.
Meant to say at 6.00 min in, in that last link there is a neat wee accolade to Paul Brennan and others.
I need some Valium
:D
Hail hail
Celtic pull out of our pre-match news conference ………………..
Me thinks this will be the story of the day…………………………..
BigJoeintheKNOW
Could it be that Celtic cancelled the Press Conference out of respect for a very valued and much respected QC whose life was tragically cut short this week? That just wouldnt enter their consciousness, probably.
With regard to our exclusion from meeting of SPL clubs, perhaps Celtics willingness to jump into commercial decisions with that manky mob is now coming back to bite us on the erse! Then it could be a way of attempting to strong arm us into supporting any decision to have them remain an SPL club!
kitalba on 9 March, 2012 at 09:01 said:
A Celtic FC Movie
“the fact that they did it with 11 local guys”………always sends a shiver down my spine and puts a lump in my throat.
someone of influence ( and we have plenty of bhoys in the movie/media world) must get a movie about this some day.
if they can get one about obree, clough etc…
then surely big jock and the lisbon lions. i’m sure gerald butler would be up for a starring role
greenjedi @ 09.10
But it was undoubtedly done with dignity.