So the day has come. Several of the alleged conspirators in the Great Football Swindle have arrived at the High Court in Edinburgh to face their charges.
It will be four years next week since I first asserted that Rangers would be liquidated, with all of the consequences that would entail. For the last two years I’ve tried to stay away from the subject and to concentrate on the matters which brought us together in the first place, but this issue deserves coverage.
In 2012 the illegal Discounted Options Scheme and Employee Benefit Trusts (only some of which are still subject to appeal) put HMRC in a position to demand payment, and subsequently reject administrators’ attempts to agree a CVA. Thank you, Sir David.
Charles Green must be a great poker player. He raised enough seed capital to buy the rights to pay £5.5 for Rangers assets in liquidation. From that moment, we thought one of two things would happen:
Green would pull Newco together and within a few years things would look like the old days.
Or, Green would be undermined by those he out-manoeuvred, leading to a likely insolvency for Newco.
There were suggestions early on that Green and Whyte were acting in concert, but, as someone with more experience than I have on matters like this pointed out to me, to be convicted for this type of crime you need to take a billboard advert out explaining your misdemeanours, it’s so difficult to prosecute. Or you need to be very stupid and fall out with your co-conspirators.
Stupidity is alive and well.
Green’s claim for legal fees against RIFC will have a profound impact on the club’s finances within weeks, but the bigger issue at hand is what happens at the outcome of the various criminal charges relating to the disposal and acquisition of the assets of Rangers Football Club, now in liquidation.
If it is proven that the assets were acquired criminally, the transaction is likely to be struck down, meaning the club currently trading as Rangers would lose ownership of whatever assets they have, including stadium and the name “Rangers”, irrespective of who actually controls those assets.
I’ve discussed this matter with many well-informed people and no one actually knows how it will play out, or what the consequences of guilty verdicts would be. The only thing that is known for sure is that outcomes are currently indeterminate, cannot be planned for, and contingencies cannot be made.
The club itself has to get on with business as best it can until whatever happens, happens, but no one should believe that a Duff and Phelps-type liquidation-bounce is normal, or remotely possible again. Assets could be hamstrung for years and left derelict.
Back in 2012 I said the only way forward with any certainty is to start with a clean sheet. Find a tiny club on the brink (there are enough of them), change their name, give them blue shirts, ask St Mirren or Partick Thistle to ground-share, and build your way up the leagues. Let the courts take their course and bid for the assets you want when the dust settles.
But that’s not going to happen. It would require more strategic thinking than is possible right now. My guess is they’re finished. Finished.
701 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- ...
- 19
- »
Pau67.
And a lot longer was it not as far back as 2008 when ‘administration’ was first mooted as a possibility on CQN?
Anyway no matter as liquidation didn’t really happen anyway, at least not in the real world it didn’t.
There appears to be ‘other’ money finding it’s way into ‘The current Rangers’ maybe by smoke and mirrors, and delisting is all part of the current deception, and it clearly suits them not to be a normal company. ( How could they be?)
Whether they are just a manifestation of Rangers or not is not news, other than to those that feel most cheated, and in the main that’s restricted to the Celtic support who suffered by far most, unsporting injustice.
The court cases IMHO are for the benefit of the bears that think they survived, and I seriously would not like to be one of those in the dock, because if found incredibly guilty they’ll take the full wrap, and the big hoose will simply move on.
We’ll Paul67,
I’ve been reading your articles too long not to put serious weight on your predictions.
But finished. Finished!
Seems so final…
What if they do the smart thing* and start a new, new Rangers from scratch.
Of course with no property and the aul IP tussle and “I’ve bought the history” blarney may not hold much water, I’m sure a Glasgow Rangers III, would be given all possible assistance from the fitbaw authorities.
Nice sentiment though…
Hail Hail
Deid ? In our eyes yes.
Not in their skewered vision.
Finished ?
Big statement.
The proof will be an empty Ibrox.
Off to read Etims.
Who was the biggest name player ever to sign for Celtic?
TONYDONNELLY67. Celtic and Celtic supporters and other clubs were cheated during the EBT years now for me Celtic have made very little noise about how the cheating affected them.For me I feel let down by there lack of action. It appears to me all that interested Celtic was and is money now I know you are happy with the board and that is your right but I think they let the club and the support down by there reluctance to challenge the Football authorities about the cheating.I am happy to stick to the word DELIGHTED as for me unless the board come out at this late hour and tell us different and that aint going to happen.Tony keep supporting everything the board do you are one of the few I know who supports them unequivocally . I think we have only to remember the late great Tommy Burns how hard he tried to bring the league title to Celtic park but failed due to the cheating by David Murray and Glasgow Rangers and it eventually cost Tommy his job but our current board make no mention of this in my opinion they are complicit. H.H.
BOURNESOUPRECIPE @ 12:44 PM,
That is a great article on e-Tim’s, very fair assessment of Peter Lawwell, mind you not so much on Ronny, however it was so fair I thought Paul67 must have been a guest writer, well until the last paragraph anyway.
Hail Hail
Paul67
Nice thought, finished as what?
Only yesterday the were appointing a scout, looking at a player , some deal will be cobbled together to allow them to use Ibrox if this is not already done,I dont rule out state help dressed up as something else to enable this to happen, look at what Lloyds did with a meaningless equity for debt deal that the taxpayer had to pick up, the beneficiary being MIH, fine I get the fact RFC 1872 died when they were liquidated, but the back tracking, rubbish about a holding company going bust not the club needs nailing once and for all.
But that’s not going to happen. It would require more strategic thinking than is possible right now. My guess is they’re finished. Finished
Should be followed by the alleluia chorus.
http://youtu.be/pRhjWdr-LAA
A slightly different version from normal
TT,
They played a Luxembourg mob when we played the Icelandic mob.
Stop trawling dodgy foreign websites looking for bother :)
He was injured in the hoops and it seems an awful long time to be out with a turned ankle but as I said his record before us was nothing like the other two I mention.
Certainly no experts mentioned it on here prior to signing. lol
HH
Yes the Edinburgh jury is the key,
I’m assuming no public allowed into the trial, heading down that paranoid Masonic route again me :(
BSR
Jan Venegoor of Hesselink
Oh! And I’m also surprised that no west loathian Huns where outside shouting and balling, what’s that all about? Somethings afoot.
Finished.
What a joy, Paul67. I DO so hope you’re right. My concern is that Scotland won’t let that happen.
Bawling
BSR.
Was it Jan Venegoor of Hesselink?
Jan Vennegoor of Hesselink
TD
They’re all working at the Edinburgh Dungeons…
scaringtheweansCSC
Afternoon Timland from a warm hun free mountain valley.
Paul67
Not a chance they will be finished, it’s scotland, and they are the peepil.
I could make a list, but I won’t, of all the things that have happened, that wouldn’t have happened in any other land had they not been the peepil.
The corruption is from the very top, to the very bottom, it has been played out before our eyes and nothing is getting done, they are laughing at the rest of society, cos they are the peepil.
Even yesterday, you blogged about Killie and their get it up you, it’s been happening on a grander scale for years, and the Celtic support take it like they deserve it, nothing is going to happen to this or any other hun, and don’t come away with they were liquidated, as I said, anywhere other than scotland, they would be no more, but they are more, more of the same sectarian bile, more of the same breaking of all the rules, the same cheating, the same control of the powers that be, the same control of the referees, the same controlling of the court system, the same control of the police, the same control of the government, and you say they will be finished, you are dreaming Paul, but who am I to take your dreams away.
HH
BSR…
If it’s JVoH, it’s only because…
John Paul Jock Ronnie Jim Tommy Bobby Billy John Jimmy Willie Stevie Bertie Bobby John Sean Neil Mc Ginty
Failed his trial…
Hail Hail
if Paul is right, there isn’t enough jelly and ice cream in the universe to cover it.
Many years ago when I played football I damaged my ankle the pain was unbelievable and even today when it is cold and damp I get pain in that ankle.The Doctor at the time told me it would have been less painful if I had broken the ankle and it would have fully healed quicker.So our new Centre Back has probably just been unlucky. H.H.
The ole CQN post drought has been alleviated by bhlokes postin’ ‘Jan Vennegoor of Hesselink ‘
It was that 6 foot 8 inch centre half project that Tony Mowbray signed who did not shine in the St Mirren game that ended Tony’s managership at the club.
Canny mind his name.
I wonder if any of the defendants will lunch at Deacon Brodie’s…seems apt!
Well it is a lovely afternoon here so it looks like cutting the front grass is in order so as Kev J. says im aff oot. H.H.
JVOH
1996–2001 Twente 142 (59)
2001–2006 PSV 157 (73)
2006–2009 Celtic 78 (34)
2009–2010 Hull City 31 (3)
2010–2011 Rapid Wien 10 (2)
2011–2012 PSV 17 (2)
@wiki
Would Du Wei be the Player with shortest ever name to play for Celtic?
TT
The Lennoxtown link (By Onthewing) on page 1 showed Broony training with the rest of the squad. Was the injury story without substance?
JJ
Freddie Ljungberg
2011 Celtic 7 (0)
2011–2012 Shimizu S-Pulse 8 (0)
2014 Mumbai City 4 (0)
@wiki
Philbhoy-
Celtic
24 Zaluska
12 Wilson
21 Braafheid (Rasmussen 75)
38 Thompson
48 O’Dea
06 N’Guemo
18 Ki Sung-Yeung (Fortune 60)
46 McGeady
07 Keane
09 Samaras
55 McGowan
Substitutes
01 Boruc, 02 Hinkel, 52 Caddis, 17 Crosas, 27 Zheng, 10 Fortune, 19 Rasmussen
I expect you are thinkin’ of hoopslegend wee Josh Thompson, who made the #38 jersey his own in his brief spell at the Club.
Finished? In an institutionally racist Scotland? Of course not.
Some legal and mental gymnastics a la Lord nimmo smith will of course be forthcoming.
All with Celtics tacit blessing.
A couple of pals and myself are off to Madrid next month to see Real play PSG.
I’ve been there before but not for a huge length of time.
Other than the usual warnings about petty crime, is there anything or places I should avoid ?
Or on a positive note, that we should see ?
We’ll probably see ‘Guernica’ and have a day trip to Segovia to see the aqueduct.
Would love to see that mob finished!. Won’t happen of course.
The Scottish establishment brotherhood will always be there with a big union jack safety blanket.
I would say our biggest signing was Chris Sutton. £6m and still a big name in England at the time.
Was also a hun skelper extraordinaire.
DBBIA
He is indeed the man!
Wherever is he now I wonder?
Hope you are well! You missed a great Hootenanny and you were missed too.
S-Pulse 8 took the place of S-Club 7 after the latter were liquidated.
dbbia/rachelstevensCSC
Not a criticism, but, the etims article
And I have my own view on Peter Lawell, a steady ship Yes,
Financial Growth, have I missed something ? Without Champions league revenue our financial position in terms of turnover is stable at best
Now I agree we should not be spending more than we earn
My gripe is how it s spent, and I am glad we are now reducing our squad size, should allow better investment in a better standard ?
My dissapointment in Peter is what I perceive as failing to deal with poor performers in depts of Celtic, PR, Security ( although stewarding appears to be a bit better) and Scouting for me, all underperform
Nae interest in debating a Deid, finished mob
Hail Hail
Du Wei neatly overtook ‘Shuggy’ as the shortest named Celtic player ever in 2005.
He made his debut in the Scottish Cup third round tie against Clyde on 9 January 2006 in a shock 2-1 defeat.
His uninspiring first team debut saw him substituted at half time by Celtic manager Gordon Strachan with his performance seeing him being outplayed by the opposition. After that display, he was dropped from the team and his loan was cut short with him returning to Shanghai.
@wiki
I’d have thought Roy Keane was by far lour most famous signing, the biggest name would be Jan but not sure about biggest would the be tallest or heavyset ?