Resolutions to be voted on at the 30 April meeting are proposals from the Scottish Premier League executive (Neil Doncaster). They have nothing to do with the Gang of 10 nor are they a Duff and Phelps/Rangers conspiracy. The resolutions are not set in tablets of stone and have no authority in their own right. The League has form in voting down executive resolutions, in particular overthrowing plans for a 10 team league last year, so, in theory, the votes could go for or against.
Neil Doncaster, being as thorough as he is, has almost certainly shared his plan with the man along the corridor at Hamden, SFA chief exec, Stewart Regan. He is also likely to have taken guidance from the Uefa executive, specifically CEO David Taylor, formerly of this parish. It would be unnecessarily lax to leave legislative loose ends before embarking on such a radical plan, so forget about any intervention by the SFA (cough) or Uefa.
Putting preconceived notions aside (if I can), the resolutions are flawed.
Asking for 8 clubs to vote for a Newco to be allowed into the league, but requiring 11 to vote for a financial penalty to be imposed for an Insolvency Transfer, is beyond ridiculous. The former provision – the gift of continuity to a defaulter – is easy to achieve. The latter – the punishment for defaulting – is unnecessarily difficult. Duff and Phelps will need the support of only one club – let’s say Dunfermline, who are brogue-to-brogue with them anyway and due to relegation will not be affected by the financial penalty, will vote with them. Why would Doncaster put such a high bar on setting financial penalties?
Arbitrary voting thresholds smack of gerrymandering. Can anyone explain this in any other way?
There will now be a period of debate between clubs; Celtic will oppose any provision for a Newco to enter the league. Duff and Phelps will be in the opposite corner. You can expect to hear wailing and gnashing from Rangers (IA) along the same ridiculous lines they have used ahead of the SFA hearings into the behaviour of the club in advance of, and after, Craig Whyte’s purchase of the club. On that occasion, Duff and Phelps argued that the actions of Rangers’ new owner, or the failure of the old board to conduct their business correctly, should not lead to a penalty on the club.
It doesn’t matter how lax or severe the proposed penalties, Duff and Phelps will oppose them. Anything lessening of the penalty is worth money to the proposed new buyers of Rangers, so let’s view everything Duff and Phelps say in pound notes.
Rangers have unpaid bills potentially running up to £134mm that’s medicine, operations, road repairs and Help for Heroes. Allowing them to ditch their history and start afresh, where owners profit by securing a floating charge over the stadium, where fans can continue to be provided with a team in the league, creates an unprecedented moral hazard. It rewards irresponsibility and would create a queue of clubs ready to do the same.
And on the point of ditching their history… I openly mock anyone who uses phrases like Hybrid Liquidation. You don’t get Hybrid Liquidation, Partial Liquidation or Liquidation Lite. You cannot buy or sell history, as Duff and Phelps tried (and failed, I think) to convince Rangers fans. Liquidation would mean Rangers Football Club, established in 1873 (or 1872 as they now claim), incorporated in 1899, is finished.
Just pay your bills and do us all a favour.
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In anticipation of “newco” being re admitted to the spl but docked 10 points or more and the need therefore for even more ‘honest mistakes”Willie Gollum is rumoured to be growing a fourth eye….
EXT
Samuel Eto’o
Raul Gonzalez
Phil Neal scored in 2 finals (as did Alan Kennedy if you include penalty shoot outs)
ernie lynch
How so? Would Craig Whyte continue to own RFC?
@FootballNotices: Official notice of meeting of creditors for #RangersFC in #EdinburghGazette http://t.co/VDHuqGAs #insolvency
Serge on 12 April, 2012 at 11:25 said:
”The Man Utd fans had their protest against the Glaziers with their green and yellow scarves”
I’ve seen those on the telly.
They’re lovely and colourful.
Very eye catching.
Not particularly effective though.
ernie
Is this earlier comment by another poster correct?
“It is also important to note that, in the SPL’s eyes, “a club” would not cease to exist if a share is transferred. If Rangers’ share is transferred from oldco to newco, they would not be required to have a new club name, new badge or new colours and their SPL record would be preserved. ” por cierto.
kayal – Not bothering about penalty shoot outs.
Eto’o and Raul are good shouts but think McManaman, Van basten, Del Piero only scored in one final? Could be wrong though.
My mum always told me to look out for people,here is a wee tip for the bhoys that will never be back to see Celtic.
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new article posted.
Hernan Crespo in 2005 for Milan
Milito in 2010 for Inter
up_over_goal on 12 April, 2012 at 11:51 said:
”ernie lynch
How so? Would Craig Whyte continue to own RFC?”
In theory yes he could. And he wouldn’t be personally responsible for the company debts.
Unless he traded whilst insolvent.
Which is a possibility that hasn’t been discussed much, either in relation to Whyte or Minty.
As some stage D&P will have to furnish an up to date valuation of the huns heritable assets ie Ipox and Murray Park.
It will be interesting to compare that will the balance sheet valuation of £120m and see at what stage the huns liabilities began to exceed the true value of their assets, which is one marker of insolvency.
@edwardrice1: The thing about proposed rule changes are that they are brought in before SPL reveal findings of inquiry into EBT contracts #somethingstinks
Extraordinary on 12 April, 2012 at 11:45 said:
I’ve been trying to find out what players have scored in more than one European Cup Final. Obviously we have Tommy Gemmell, there’s the early madrid guys Di Stefano, Gento, Rial, Puskas. Then we’ve got Eusebio, Gerd Muller and Roth of Bayern, Phil Neal and recently Messi. Any others?
An Englishman has scored the winning goal in 2 Finals – one with the last kick of the match.
Ragers fans set to boycott as three penalties per game are too infrequent