Paul Simon wrote about ‘a loose affiliation of millionaires and billionaires’ but if you want to raise money to rescue a company you need more than a loose affiliation. ‘The rebels’ at Celtic managed this in 1994 (somehow), but Paul Murray’s Blue Knights affiliation unravelled over a few days.
While Duff and Phelps were casting aspersions on the SPL for spiking their plans to announce a preferred bidder last week, the Blue Knights were already struggling to pull £0.5m together as a covenant to secure a period of exclusive rights to buy the club.
18 years ago a Celtic supporter walked into a branch of Bank of Scotland and paid £1m into Celtic’s bank account to bring it back under agreed limits and prevent the club going into administration – without any security or negotiating rights. A discrete but hugely important act by a man still on our board. No one from the Rangers consortium was prepared to gamble half as much last week, they even asked Ticketus, finance provider for Craig Whyte’s doomed venture, to stump up the non-refundable cash! The ticket agency declined.
The Celtic consortium soon fell apart with a modest degree of acrimony but personal issues were put to the side until the job of securing the club was complete. Paul Murray’s group was less fortunate. As a chartered accountant Murray would have been fully aware of the Employee Benefit Trusts which brought the club to its knees. What he knew and whether he benefited are likely to be some of the questions other consortium members were asking. He was not best placed to lead the recovery.
Murray also tried to keep a broad church together, from wealthy but detached Rangers fans to various elements of the support. This sounded ambitious from the off.
The most important comment from the Blue Knights yesterday was “The consortium believes that the whole deal process has become incredibly complex and it is critical that a preferred bidder is appointed this week.”
If it’s possible for the words “incredibly complex” and “critical” to be an understatement this is the occasion. The Scottish Premier League and Scottish Football League announce their fixtures in the middle of June. If Rangers are to phoenix before then they better hurry up and die. The liquidation process will take weeks (if it goes smoothly) and can be open to legal challenge. Stadium ownership has also to be secured and the claims of Ticketus and Andrew Ellis have to be satisfied.
Add to the mix creditors, the big tax case, punishments from the SFA for their on-going inquiry into the last takeover, potential punishments from the SPL inquiry into improperly registered players, increasingly widespread opposition from within the SPL and the rest of Scottish football to a place being created for a phoenix and you get the picture.
The last few years reads like a lesson in how to destroy a huge football club. Chances of SPL football at Ibrox next season? No more than 50%.
Bids for the original canvass painting of Neil Lennon by US based artist, Joseph Gormley, have hit an incredible £500. Keep an eye on the auction, which ends on Thursday, here.
Buy a hard copy of CQN Magazine, issue 7, by clicking on the button below. You can read online here.
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If the huns are liquidated (or liquidised) before the season ends SPL rules state that Dunfermline stay up.
You would have thought Yorkson would be thinking about his own club first.
A Valuation Roll from 1915 Showing the Details for Easter Road, Tynecastle Park, Celtic Park and Ibrox
Easter Road, Tynecastle Park, Celtic Park and Ibrox
In 1913, Archibald Leitch was commissioned to design a new main stand for Heart of Midlothian Football Club at a cost of £5,000-6,000. By the time plans had been submitted, this cost escalated to £8,000. In order to pay for the new stand they had to sell Percy Dawson to Blackburn Rovers for £2,500, a record fee at the time. The new main stand was partially opened on 15 August 1914 for Hearts 2-0 win over Celtic.
The newly indexed valuation rolls show that the new main stand increased the rateable value of the ground initially to £510 yearly from £205 but on appeal this was reduced to £455 yearly. This was on a par with Hibernian Football Club. Even in 1915 Celtic and Rangers were already the most successful football clubs in Scotland, owning or renting ground with a higher rateable value at £700 and £620 respectively.
http://www.scotlandspeople.gov.uk/content/images/celticvr.jpg
http://www.scotlandspeople.gov.uk/content/images/rangersvr.jpg
Gordon_J backing Neil Lennon on 18 April, 2012 at 09:12 said:
what happens if they are liquidated post-season? do dunfermline get re-instated or does 2nd place in SFL get promoted?
I see the poodles are re-aligning themselves with NewCo into Division 3.
Not long now my friends.
Time is ticking even for that to be possible.
Good morning Bhoys and Ghirls,
right here is my quick input about Neil Lennon and about what he did on sunday!
and there you have it! what he did on sunday!
yes he ran onto the playing pitch AFTER the match had ended
he very clearly asked the referee “are you sure” doesn’t take a lip reading expert to see that is what he said!
he DID NOT grab the referee by the arm and force his arm down (a la bougherra twice during the cup game last year at Celtic park)
he DID NOT refuse to leave the pitch after being sent off and IGNORE a stratchclyde police officer who implored him to leave the pitch but instead walked to his ‘fans’ to throw a jersey into the crowd whilst throwing his arms in the air to gesture his’fans’ to wind up the atmosphere (a la diouf a the same game)
anyone remember the punishment those 2 got from the sfa? yes that’s right sweet f a!!!
All we are asking for is the same rules to apply so therefore a precedent has been set that in law Neil Lennon has no case to answer
To all those who are moaning about his behaviour, put yourself in his shoes for ONE day and tell us, hand on heart, that you would be able to ‘control’ yourself any better than Lennon has!!!!!
Stand up for Neil Lennon
Yorkston has been feeding at the orc table for years another in a long line of apologist who will jump ship( in a dignified manner) when he sees there is no other way…
Crash and burn huns and all of those who lapped up from their gravy train..
You’re history…
Big Nan on 18 April, 2012 at 08:51 said:
Thanks,mate.
Big Jock,the archetypal Tim.
Mr.Everyman.
Facing down the bigots.
Now,who would have been in a better position than Jock to understand what we are up against ?
He did. And they knew it.
My god,did they resent it ?
Lenny has understood and accepted his legacy.
Go on,son.
Get in about them.
Sorry about last post hit the wrong button.
Woke up this morning and still feeling a rage inside about the way the MSM and MIB are treating our manager. As for the clowns that post on here or phone snyde etc to slag off NFL why don’t you do us all a favour and piss off. It is people like you that help these sad excuses of journalist to spout their garbage and help massage the orcs by keeping the state that they are in of the back pages.
If ANY Celtic fan cannot support our manager 100% then I suggest you look in the mirror and ask yourself am I a true Celtic fan, do I understand exactly what the esablishment are trying to do to our Manager, do I understand the levels they will go to in attempting to save everything that corrupt fc stand for, do I understand that they will do everything to try and keep us ” in our place “.
If you still cannot support Neil Lennon after answering these wee questions,then I suggest that you find another club to support because you are certainly not a CELTIC fan or at least not one that I can associate with.
Feckingragingcfc.
HH
With each passing day i’m becoming more convinced that there will be no rangers of any description next season. All there matches will be in Court. Newco will then arrive in 2013/14 season, giving the footballing authorities, SPL/SFA/SFL, a year to agree on a blueprint for the future structure of our game. No Newco, even no Newco in SPL, allows the radical proposals that supporters want to at least be discussed (larger leagues, pyramid structire, summer football/winter break, play offs).
Perversely its the cashcow that is the Sky/ESPN TV deal that is the main factor in holding Scottish football back from moving forward. The guarantee of 4 x us v them is closing the SPL’s eyes to what’s best for the game. Without this TV deal clubs can move forward and agree what is best for football in this country. Every club should run a self-financing business model, not one dependant on others and financial fair play should be at the heart of any new set up.
Rangers in crisis: Brian Kennedy ready to launch dramatic rescue bid to head off threat of liquidation
Apr 18 2012 Exclusive by Keith Jackson
BRIAN KENNEDY could this morning launch an 11th-hour bid to rescue Rangers from the brink of oblivion.
Record Sport can reveal the Sale Sharks owner was preparing to make his move late last night at the end of another dramatic day in the ongoing takeover saga.
Administrators Duff and Phelps had earlier told prospective owners Bill Miller and Bill Ng they had 72 hours to cut a deal or the club faces the prospect of liquidation.
Kennedy, who withdrew from the bidding process last month, has become increasingly concerned about the plight of the crisis-hit club over the past few days after Paul Murray stepped back from the bidding process.
His fears were heightened yesterday after the administrators laid it on the line to the two remaining bidders, American financier Miller and Singapore businessman Ng, that they had to do a deal by the end of the week – or else.
If a deal can’t be cut then the nightmare scenario of liquidation would loom.
Joint administrator Paul Clark said: “We have made it clear to those involved that it is of paramount interest to the football club that a satisfactory deal be concluded without any further delay.”
And worryingly for Gers fans, Ng last night claimed he is still “A million miles away” from delivering a rescue package.
Kennedy had previously given his backing to Murray’s consortium and promised only to re-enter the race for control of the stricken club if the Blue Knights bid bit the dust.
He told me earlier this week of his growing anxiety for the future of the club and said: “With each day that passes without a solution being found a little bit of the football club is dying. This must not be allowed to continue. Somebody needs to take advantage of this situation and today I feel that person is me”
Kennedy was not available for comment last night but it is understood he is ready to re-engage with Duff and Phelps now Murray has stepped aside.
The Edinburgh-born millionaire fears the club could be liquidated if it falls back into the wrong hands and is getting ready to reactivate his own salvage mission.
Kennedy tendered one of five original bids but was eliminated from the running along with a mystery German rival – leaving Murray, Miller and Ng locked in a three-way battle to pick up the pieces left over from Craig Whyte’s catastrophic regime.
But he could yet emerge as the front-runner if he returns to the table today.
Meanwhile, it emerged yesterday Duff and Phelps are suing Whyte’s lawyers Collyer Bristow for £25m.
The administrators allege Collyer Bristow breached its “rights and obligations” under the terms of Whyte’s takeover. And they’ve accused the firm of “professional negligence and a breach of fiduciary duty”.
The London-based legal firm deny the allegations. A spokesman said: “It is our intention to contest all claims in the strongest possible terms and over the longest possible period”
“The preferred bidder will be revealed THIS week!” exclaimed Paul Clark excitedly, opening his eyes as his finger jabbed down on the Rangers Superstars calendar which lay on the desk of his colleague, David Whitehouse.
“Ok, fair enough Paul, we’ll go with that but I get to choose next time and I’m using the darts again, alright?” said David in his usual petulant and condescending manner.
MWD genuine LOL moment reading your response
Happy to have shared you mate and its since been retweeted by BJMAC & JOBO from here. Sorry I couldn’t get the fairer sex and two of them at that to do the sharing ;-)))) I’ll keep that in mind though PMSL
Hail Hail
Stephen with a “ph”
Kayal33,
The current rules don’t make that clear. That’s where the Cheats’ Charter comes in I suppose.
Mighty Tim
In Singapore we have an expression:
Angry man should wear bigger pants!
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 18 April, 2012 at 09:34 said:
“The Edinburgh-born millionaire” sounds familiar that….
Big Nan on 18 April, 2012 at 08:51
Many thanks for posting the link to BIg Jock’s “pitch invasion”. I’m sick of the media (and non-Celtic mates) coming out with the “Mr Stein would never have behaved like that” bollocks. Excellent to have some evidence, which has been duly forwarded.
TinyTim 07:44
Re: The ferry trip to Ireland,
If you get the ferry to Belfast you will be about a 2 hour drive down to Kells and it is good roads for most of the way as the new (for us) M1 motorway goes from Belfast to Dublin. I would exit at Drogheda and head accross for Kells or you could go straight to Dublin, along the M50 to Blanchardstown then join M3 which goes straight to Kells via Navan so it would be motorway all the way (although you will hit 3 different toll charges on that route)
If you got the liverpool or even holyhead ferry to Dublin the drive to Kells would only take 1 hour but you would have a longer ferry crossing and whatever the drive to liverpool or holyhead takes form your home.
If you google ‘aa route planner Ireland’ it will show the Irish leg of either route for you
By the way while you are in Kells, you would have to check out Newgrange, which is only half an hour away. It is a megolithic tomb built a few thousand years BEFORE the egyptian pyramids and absolutely fascinating with an excellent visitor centre. Again google it, you will not be dissapointed.
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 18 April, 2012 at 09:34
Mate
We had a chat about the Falklands a wee while back.
If you`re still interested,check what Ex-pres. Videla until `81 has just admitted to.
By STEPHEN HALLIDAY
Published on Wednesday 18 April 2012 02:17
RANGERS manager Ally McCoist has expressed his growing anxiety over the administration process at the club and has beseeched that the identity of a preferred bidder is announced imminently.
More than two months after being placed under the control of administrators Duff & Phelps by owner Craig Whyte, the Ibrox club’s future remains unclear and without any guarantee of avoiding liquidation.
Monday night’s dramatic announcement by former director Paul Murray’s Blue Knights consortium that they were walking away from the battle for control of Rangers, having seemed to be in pole position to be named as preferred bidders by Duff & Phelps, has left the rival offers from Singaporean businessman Bill Ng and American millionaire Bill Miller in contention to be accepted.
Ticketus, the finance company who funded Whyte’s takeover of Rangers last May through their purchase of advance season ticket sales worth £27million, remain willing to be involved with both the Blue Knights consortium and Ng’s bid, but have had no contact with Miller.
McCoist, who has played an over active role by wasting time in talking to prospective buyers of the club since it went into administration on 14 February, fears the lack of progress by the adminstrators, who today instigated a £25m legal case against owner Craig Whyte’s former lawyers Collyer Bristow, is threatening his hopes of delivering Rangers from evil.
“I honestly won’t lie to you, I’m really really concerned and really really worried because we have lots and lots of planning to do,” he said. “We have pre-season games and hopefully we’ll try to arrange pre-season tours. All these things and players coming and going makes it a tad concerning.
“There obviously have been developments and it looks like the preferred bidder status has moved away from the Blue Knights and perhaps headed to either the American bid or the Singaporean bid.
I just dont know where to place my bet and I can´t give you any tips becuase of insider dealing” he quipped.
“Obviously, like all Rangers fans, I think the sooner the preferred bidder status is announced that would be a big, big, big step in the right direction. The uncertainty and the lack of clarity about the future is obviously really really concerning and worrying for everyone, be that players, staff or fans.
“I can totally understand everybody’s concern and that’s why I’m hopeful that it will be much much sooner rather than later.”
The jolt to the Blue Knights bid came when Ticketus, enlisted as part of the consortium, declined to pay a non-refundable fee of £500,000 required by the administrators for exclusivity throughout the next stage of the takeover process. The Blue Knights couldn´t find the money and it is now looking like a publicity stunt by former director Paul Murray. It also emerged that Ng had opened talks with Ticketus, who could now also play a role in his bid for Rangers.
“Discussions with both bids are ongoing and, ultimately, we are prepared to work with whichever bid the administrators think is best,” said a Ticketus spokesman yesterday.
Ng, who was thought to be heading to the UK earlier today as the initiative appeared to swing towards him, insisted he has yet to reach any deal with Ticketus and remained cautious about his prospects of being named as preferred bidder.
“We have not agreed any terms with Ticketus at the moment we are a million miles away from an agreement,” Ng told BBC Scotland. “I do not want to speculate on the reasons of Blue Knights’ withdrawal but the apparent withdrawal from the bidding process by the Blue Knights means only that the chances of taking over increases for the two remaining bidders left in the process.
“The best interest for Rangers will be the best bid forward. We accept this as a matter of fact. I do not have the facts of what Mr Bill Miller has proposed. I only know what I can do and what my plans are for the club, if I am successful. I believe it is more important for me to stay focused at this point of time and prepare for our ground works, regardless of the result of the announcement by the administrators. I can also categorically state with certainty that this is not a publicity stunt to raise my profile”
Irrespective of the preferred bidder eventually chosen by Duff & Phelps, the prospect of Rangers’ successfully emerging from administration remains largely dependent on Craig Whyte being persuaded to relinquish the 85 per cent shareholding in the club he secured from previous owner Sir David Murray 11 months ago. The outstanding ruling in the First Tier Tribunal on HMRC’s tax bill claim against Rangers, potentially in excess of £70 million, also prevents any prospective purchaser from having total clarity on the situation they would inherit.
It remains possible that Brian Kennedy, who withdrew from the bidding process at the end of last month, could return to the negotiating table. The Sale Sharks owner, whose original offer for the club was backed by former manager Graeme Souness, has repeated his desire to ensure Rangers avoid liquidation.
“I do not want to distract the time-critical process of appointing preferred bidders,” he said earlier today.
“However, should this fall through with the effect of endangering the existence of RFC, I would reconsider my position definitely.”
hen1rik on 17 April, 2012 at 22:52 said:
We should be celebrating the title win but instead the media and the SFA/SPL are trying to taint it by putting the focus on Neil.
The fans who are against Neil are not real fans.
Neil tell them you’ll accept punishment when Kenny Shiels, Butcher and others get pulled up.
share on F’book or Twitter
…………………………………………………….
This post from Henr1k last night really does say it all…..!!!!!!!!
Kennedy was not available for comment last night but it is understood he is ready to re-engage with Duff and Phelps now Murray has stepped aside.
The Edinburgh-born millionaire fears the club could be liquidated…………..
Millionaire ……….Wow! Impressive ,or what?
Deja vu,all over again.
Lovin` it.
Just lovin` it.
Give me excess of it that ,surfeiting,the appetite may sicken and so live.
Just can`t get enough.
Meant add Sally to the list…….his repeated outbursts during games has been completely ignored………e.g. His repeated “fxxxxxx shxxxxx” at a recent home game wasn’t even MENTIONED by the LL
macjay1
What the difference between Videla and Botha ?
And how do you explain our countries government different approach to both.
Its all about they money .. forget the sovereignty crap
Hail Hail
http://youtu.be/uTwYi1W02l4
Rage against the Machine killing in the name of ( F–k you I wont do what you tell me.
For Neil and all true Celtic fans
HH
Well done the Belfast Telegraph……..
It’s an understatement to say that Celtic manager Neil Lennon is not everyone’s cup of tea. And it’s also true that many of the negative attitudes towards him are just plain Neanderthal, based on sectarianism at worst or thick-headed sporting prejudice at best.Scottish football still exerts a powerful influence in Northern Ireland and it’s well known that the respective ‘cultures’ represented by Celtic and Rangers can have far-reaching impact upon the less sophisticated among their supporters. Last year’s bullets and bombs saga was horrific and two thugs are currently awaiting sentence for their part in the attacks.
But it’s also fair to say that, where his job is concerned, Neil is not one of nature’s diplomats. Always solid, abrasive and bullish as a player, he brought those qualities to his role as manager of Celtic and has taken his fair share of flak for his touchline behaviour. Unsurprisingly, though, that’s not the whole story. Neil’s gesture last week in joining Sir Ian Botham for part of his charity walk in Glasgow for research into blood cancers was part of the Ulsterman’s frequently unsung role as a civic figure. His good friend Stiliyan Petrov, now captain of Aston Villa and former Celtic player, was recently diagnosed with leukaemia and Lennon’s participation in the Botham walk will help raise the profile of the disease. It’s a responsible thing to do, using the celebrity of his role at Celtic to further good causes. Still, the sight of Neil Lennon with a Botham bib bearing the legend ‘Beefy’s Great British Walk’, might take some in Northern Ireland by surprise and, because he’s one of us, it won’t have gone unrecognised by Neil himself.
Some might think it’s petty even to notice such things. Others might say it just shows what can happen when people leave these shores for other, bigger cultures (though Neil’s recent experiences in Scotland make that argument less convincing).
I prefer to see it as another one of those small deliberate gestures which help make things better for us all. It’s about pulling on the bib and focusing on the bigger picture.
Well done, Neil.
y STEPHEN HALLIDAY
Published on Wednesday 18 April 2012 02:01
THE three-day hearing against Rangers and Craig Whyte began at Hampden yesterday despite the club owner’s failure to attend. A total of nine charges – two against Whyte and seven against Rangers – are being considered by a three-man SFA Judicial Panel.
Whyte, who is currently in a real casino at Monte Carlo gambling his recent winnings away, had already declared his intention to play “absolutely no part” in the hearing despite being requested to make a personal appearance by SFA Compliance Officer Vincent Lunny.
Rangers were represented yesterday by the club’s head of football administration, Andrew Dickson, along with their lawyers Biggot Baillie and Simon Shiplemout of club administrators Duff & Phelps.
Five of the seven alleged rule breaches by Rangers relate to the period from 6 May last year, when Whyte completed his takeover of the club, to 6 March this year when Lord William Nimmo Smith concluded his Independent Inquiry into the controversial venture capitalist’s stewardship at Ibrox. The tenure of former Directors Sir David Murray is fittingly not even up for question and will
not be reviewed.
It found that Whyte was not a “fit and proper person” to hold a position within football.
There are two separate charges against Whyte, of bringing the game into disrepute and of failing to act in the best interests of football at all times.
Rangers face two additional charges relating to their failure to pay Dundee United and the SFA their share of gate receipts from the Scottish Cup tie at Ibrox in February.
The SFA will make no announcement on the hearing until its conclusion. It continues today, takes an adjournment tomorrow and is scheduled to finish on Friday but is looking likely to be postponed until the middle of the summer
Surely they haven’t went this far into the bid process without Whyte disclosing exactly what you would be getting when you give him his money?
Surely?
Surely?
Let’s see how long the period of exclusivity lasts…..
Surely not the same CW?
http://www.cwdemolition.co.uk/
Lyruc
MWD – Inspired stuff last night. Well done.
Another wee song for Neil
Eddi Reader – How Great Thou Art
You can tell the huns are getting desperate. There are no more billionaire bidders – they are down to mere millionaires now.
Bill Ng apparently has a fortune of £50M. Not to be sniffed at of course. And I suppose if he trebled it and then put every penny he owns into the huns they could pay off their debts ….
Awe Naw….I think this is a very revealing statement
“It is our intention to contest all claims in the strongest possible terms and over the longest possible period”…….over the longest possible period….????
Singapore journalist describes Ng
“In the late 90s and early 2000s he used to do stockbroking for two major banks here and around 06-07 he set up his own private equity firm which now specialises in debt restructuring and business development, which is a reason he thinks he can make a difference at Rangers because it is really his day job.’
Oops does this sound like someone else??/
67heaven
in the courts for years long after Duff & Phelps have departed the scene.
It will be used by D&P and the new owner as the promise of a 25m warchest for the daft wee demented huns for ST renewal
“aye ken Hugh bit wance we win the Cauliflower & Bisto money we´ll be quids in an we should make a bid fir Van Bommel and Messi”
Hail Hail
Hail Hail
In any league reform refereeing standards accountability and monitoring must be included this mob we have now provide a questionable service with no alternative to the service user and varying levels of openness and accountabilty depending on the. team is involved. They are unfit for purpose
You have got to admire the chutzpah of the MSM.
Jingo jango went from succulent lamb to MBB to Blue Knights and now instantly Ng is the favourite and Paul Murray cast as a publicity seeker although correctly if I am wrong but the initial spin was PM was “reluctantly stepping into the limelight”.
Still the MSM will not ask the leading questions.
How did Ng cheat his way into the dressing room in Barcelona to see Greig lift the cup?
Why are D&P chasing damages when the club is heading onto liquidation and will not be able to fund an action or (don’t laugh) a CVA when it will be up to the new owners to pursuse?
It is now accepted that BK don’y have nay money and Mr Sale Sharks bid was immediately dismissed but if they current 2 bids don’t succeed then they will both step back in. I presume they are both searching down the back of couches just now to raise those additoinal funds.
good morning all.
I posted on monday, asking if anyone on the blog new what was happening regarding their allocation of tickets for next Sunday’s game. We’re less than 2 weeks away and my thoughts would be, if they were getting tickets, they would probably have been allocated by now.
We are on the creditors list ( 40k ), surely we wouldnt supply tickets without getting cash up front ( as per 28th December ).
Any info welcome.
HH PC67
Awe naw
The difference is complex.
The similarity,however,is striking.
The rights of inhabitants to determine who rules them.
In each case,the British govt. of the day supported majority rule.
Both in S.A. and the Falklands.
In the case of the Falklands,Britain responded to military aggression and were
supported by Michael Foot and the Labour party of the day.
However,disappointed that you felt unable to react and respond to the confession of fascist Videla to the murders of left wing activists in the late `70s.A legacy adopted with relish by the govt. of his successor ,Galtieri who initiated military action against the Falklands.
What person of decency would support these fascist dictators?