This afternoon’s statement from Octopus Investments was very professionally written piece. It was designed to give investors a sense that the business has taken appropriate steps to secure money spent with Rangers.
For a start, we now know their company, Ticketus, “purchased tickets for Glasgow Rangers games for a number of seasons”. This clarifies one matter, money received by Craig Whyte’s solicitors back in May last year was a straightforward purchase, not a loan, so VAT was applicable, and should have been declared and paid. We can assume this VAT was not paid, whether it was declared or not will determine future consequences.
Octopus explain their investments are “designed with capital preservation in mind”, with “appropriate security being available” and “extensive due diligence”.
A reasonable interpretation of this is that the company have sufficient security to ensure that they have rights to sell Rangers tickets for parts or all of the stadium in years to come, although, the company stop short of making a firm statement on what is, after all, a private commercial matter. They add that “no trading activity is risk free”, no one can assume there will be a Rangers in the future, and while their statement mentions Glasgow Rangers, it does not specifically mention a legal entity.
A floating charge exists over the stadium in Craig Whyte’s favour. This would see the stadium revert to Whyte in the event of the club being liquidated. Octopus may, or may not, have a claim on this floating charge.
Armed with this information, the administrators and Strathclyde Police will be keen to learn why none of the money for Rangers tickets went into the club. Perhaps more importantly for any potential phoenix, questions remain over exactly who owns what claims on the stadium.
There could be a lot of sentimental photos being taken at Ibrox tomorrow.
All levity aside, this club is enduring a seemingly unending trauma.
Fancy writing something for CQN Magazine? Drop me an email and let me know what you would like to write about before you get started, just in case someone else has the same angle covered: celticquicknews@gmail.com.
There was some incredible late night action on the eBay action for the signed Celtic top in aid of the Vanessa Riddle Appeal. I’m stunned, check out the link below. You are pushing the reputation of supporters of Celtic Football Club ever higher.
Bid and help send Vanessa for the treatment she needs by clicking here. Only one day left.
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511 Comments- Pages:
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there will be a price to be paid for the hun to be re-admitted.
in the end, that is what all this will come down to. What price will they pay?
There is a very big chance, many of us will not be happy, but Lawwel better be working through scenarios and working out game plans because within a few months some kind of negotiation will go on regarding what the ultimate price will be.
There may be some intangibles to be paid. Sir Minty may revert to Mr Minty, Whyte may spend some time in the BarL… chortle we may about such events. But the final negotiation is what will count. Whether it be points deductions, banned from europe, financial penalties or all of the above. This is the negotiation that will matter. Rangers will exist in a few years. They may be re-constituted, trade their way out of administration or be bought by a sugar daddy… whatever the case, Lawwel must ensure an adequate price is paid by the “rangers”.
We paid the price of years without a trophy in the 90s. The price we paid was for incompetance but pay it we did. The hun have broken the law over a number of years and the new guy came in and funded his company with tax payers money. This wasn’t incompentance or family loyalty. This was illegal activity. This was cheating. The price for this must not be understated.
Gerry S good man!
Have you contacted these guys?
http://www.taxpayersalliance.com/contact
HH
TET
Your spelling and grammar usually display a drastic improvement from approx. 10pm onwards. That’s 10pm GMT :-))
fergus slayed the blues says:
17 February, 2012 at 20:25
No. Jim Delahunt used the discussion to point out the difference beteen a briefing given to Shug and the actual rules.
BT
Don’t start agreeing with VP.
He’ll get all confused in his old age.
RTC article in the guardian
apologies if already posted, good article by RTC in the guardian.
HH
voguepunter says:
17 February, 2012 at 20:28
Mrs VP was telling me the same thing about you the other nite:-)
celticghirlanew says:
17 February, 2012 at 20:29
Fraid all nite.
No, just join in the quiz at 9, unless of course it is celtic tapestry etc of course!!!
HH
CRC
HT
Aye but you’re the one sharing yer fetishes re stilletos and wedding tackle :))))
Ghuys,
If thems are allowed to return under some stupid name like Rangers 2012, I don’t think I’ll be able to mention their new name in conversation without sniggering, especially when conversing with a Hun. May I therefore suggest that henceforth when talking about this possible Newco, that we refer to them now and forever more as Rangers 2012 (snigger)
Is there any word on whether Cousins IS playing this weekend?
and how can they get away with it???
Also….. I had a panic yesterday-
Bid on e-bayfor a wee cowboy outfit (for my nephew)………
Suddenly I was 6 minutes away from owning R*C
BT ,G64 ,HT
Not true,lulling her into a false sense of security,
like wee craig and the ole ipox board.
fridayFrank
If you are looking in.i have to tell you to go to.You tube sean carr jelly@ ice cream.Some one in Sydney,you know who,hs FB Sean.Are you snowboarding yet,is the wee one showing you up.Hail Hail
gallagher says:
17 February, 2012 at 20:33
I didn’t post that by choice, if ye know what I mean :-))
CRC
Noted.
Boys I promise no comments from FF after last nights debacle lol.
Question about the Inland Revenue
Is there any truth that the employees of the Inland Revenue team that chased Rangers are of a certain persusion and used their position to get at Rangers?
Could we find out all the details under freedom of information and if its true and object and demand recourse. Vodafone uesd the same way of paying their staff and the bill was suggested £300 million and got off with a settlement of £40 Million without all the court nonsense????
celticghirlanew says:
17 February, 2012 at 20:34
Is there any word on whether Cousins IS playing this weekend?
and how can they get away with it???
+++++
No and they haven’t, in that order.
SPL blocked it earlier this evening.
I was just thinking, wistfully perhaps, didn’t Tommy Burns take to within a point of pipping them during their spend, spend, spend days?
Pierre and a an offside at Motherwell sticks in the mind – is my memory failing me?
U
From the BBC site:
A statement from the SPL says they were “presented with a contract between Daniel Cousin (“the Player”) and Rangers FC dated 17 February 2012, signed by the Player and by Paul Clark, the Joint Administrator of The Rangers Football Club plc (in Administration)”.
I don’t believe I just read that – that is astounding !!!
There is no end to their devious ways.
These admin folk have been hand picked by the MBB.
No laughing at this 1 now.
Massive Rangers Summer Festival
Mates and I were discussing having a major cultural event in Scotland akin to T in the Park, in response to the demands to put the loyal orders off the road etc, an expression of Britishness or an all-round party for our culture. Some of the figures (most of which would be have been re-invested back into cultural activities) were immense.
If you think about an event for Rangers. It would be amazing to be at, and the flags, banners and sheer brotherhood would be an amazing boost to our culture and the “holiday of a lifetime”. It could also in one fell swoop, wipe out Rangers debt and put us on a sound financial footing.
A camping festival on a large area of open land with stages and marquees etc. Rangers-themed bar owners could run the licencing arrangements and also make money. True-Blue artists could play their music from the stages, and guest speakers could fill marquees, plays could be put on etc. Our culture has plenty of musicians from flute and pipe bands to crooners singing Penny Arcade and old Rangers songs.
People might stump up a lump sum for such a holiday with entertainment provided. A long weekend at T in the Park sees people part with hundreds just to take in the atmosphere and enjoy the music.
If you could mobilise our people (I am sure exiles would come back for it) then I think you could have a Manchester + number of people to save our club. If it became annual we could have one of the richest clubs in the world!!
You could have family areas, people could bring caravans and mobile homes as well as massive tent city. Catering would pay a lot of the costs because they would make a great amount of money and Rangers merchandise would also raise a pretty penny.
£200 for a weekend camping if we had 250,000 is £50m. Costs of provision are only a couple of million. Add the revenues from catering and licencing, merchandising and that pays for the facilities.
We could be talking £50m to buy the club out initially and if it became an annual event £50m for players every year. There is no need to say what that could do for our long term ambitions.
It would encourage artists and be a shot in the arm for publicity. We could potentially police a lot of this ourselves with stewarding. Rangers-minded businesses would make money, and we would not be asking people to part with money for nothing.
It’s just a thought but it is something I think we could make happen, and a model aready exists. Imagine a quarter of a million doing the bouncy or singing Penny Arcade, with flags waving?
What do people think? Could the annual Rangers festival event be the thing that capitalises on the extent of the love of our support and put Rangers on an entirely different level?
Big House still extant?????
The huns trying to get crowd to sing Bob Marley tomorrow.’ Don’t worry about a thing, every little thing’s gonna be all right.’
It’ll be difficult to sing anything if your head’s stuck as far into the sand as that.
celticghirlanew says:
17 February, 2012 at 20:34
Is there any word on whether Cousins IS playing this weekend?
and how can they get away with it???
Also….. I had a panic yesterday-
Bid on e-bayfor a wee cowboy outfit (for my nephew)………
Suddenly I was 6 minutes away from owning R*C
—————————————————————————
Ach don’t worry about all that fitba nonsense! Sooo, do ye come here often?!
I actually like this song and a bit loathed to dedicate it to the orcs, but it will be quite apt when they’re liquidated in a week or two when they realise they’ve been duped for years by Murray, Whyte and the lap-top loyal:
And they promised us the world,
And they promised us a roof above our head,
And like fools we believe every last word they said,
I believed every last word they said…………
http://www.youtube.com/watch?v=dssA5ApFbo0
hamiltontim
Trying to cut down tonight, have mucho things to do the morra, will probably fail drasticly, but at least I am thinking about it :>)
Last 1 boys.
The tims new agenda
Listening to them, they are spewing big time that we will continue . We have been deducted 10 points, they will win the league but we will continue.
They can’t handle this, the league is not enough, they are spewing about stripping us of every honor won since the EBT was started.
Their obsession holds no bounds.
Paranoid, obsessed , the list goes on.
Don’t know about their agenda
But we should have an agenda now.
We should catch on film every time
they sing there terrorist songs and
email the links to every media outlet
South of the border where it might get
listend to.
Then hopefully they will be docked points
Eventually for it.
THE EXILED TIM says:
17 February, 2012 at 20:39
hamiltontim
Trying to cut down tonight, have mucho things to do the morra, will probably fail drasticly, but at least I am thinking about it :>)
——————————————–
Do ye mean ‘drastically’ :-))))))))))))))))))))))))))))))))))))))))
sparkle
Narrowed it down to somewhere on the Med coast.
HT
What a week, what a blog it’s all just so overwhelming :)))
JCGE
HH
HT
Feck it, opened another bottle, hopefully the speeling will now imprive when it kicks in:>)
voguepunter
No way I’d dare do a quiz with you bhoys…….. Like I said to begin with, I’m new to this malarkey!
the exiled tim
Broke the no booze on a weeknight on Monday!!
Bragging rights are all ours this week……if only we had a home game……..can you imagine the party we’d have?
Guess a smaller version in Edinburgh will have to do….lol.
Will be PMSL if the Hibs fans join us in our singing “lets all laugh at Rangers”.
Would be a kick in the goolies of those that say the spl needs Rangers, if each spl ground this weekend had fans singing about the buns.
LOL
HH
More than a hero to me
strong language warning
TET
I’m sure a wee rioja will improve your speeling.
I’m now fluent in gibberish.
gallagher
I actually thanked the missus earlier, not just for her understanding regarding how much time I’ve spent lurking/posting this week, but also for her active participation. She’s gone from having a passing interest in all things Celtic to an obsessive fiend, tweeting/e-mailing politicians and football authorities alike and ranting vociferously every time an uncracked rangers crest appears on the TV!!
tommytwiststommyturns says:
17 February, 2012 at 20:21
You get my text?
Keep the Faith!
Hail Hail!
hamiltontim:
Sounds like the Coatbridge Ghirl remembers where she comes from…:)
celticghirlanew:
Welcome, you from Coatbridge? You’ll forgive me for asking but according to hamiltontim I ask all the Ghirls that, rhetorical question by the way.
Keep the Faith!
Hail Hail!
SSN Goal of the Week was
Aluko of Rangers
You could not make it up.
Have it …no more
CRC –
getting my excuses in early…
Have to do the ole Jobo le Taxi bit from around 9.40 to 10.00 but I’ll hopefully manage to attempt rounds 1, 2, 4 and 5.
Jobo