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.
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It will be interesting to see the courts reaction once SDMs name is mentioned.
Probably not but the CL isn’t working for the ‘top clubs’ the way it used to and the audience in the big leagues is becoming bored with the same winners and are turning off. If you can’t make as much money from your product as you used to, find a new product.
BobbyR,
The catamaran trip ( cool running) as Auldheid put earlier does include snorkelling a shipwreck, and swimming with Turtles, plus lunch in Sandy Lane, the beach, not Dermots place, but I’ll nip in and see if he’s aboot :-)
Hail Hail
That`s right, Starry, I remember you left for London, but you forgot to square up your `tic bill! With interest accrued my holiday will be paid for!
Re – Big Deek’s “comeuppance”…………….
…………..I look forward to wee chico’s usual plaintive plea
…………….. reserved for any hun in distress……….
“a jist wike i guy…”
Bobby Russell
I’m sure you’re weren’t the only that was left holding a bar bill:))
Have a guid holiday..
MULLET AND CO 2 on 16TH OCTOBER 2015 9:15 PM
McInnes next for the sack?
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Cheers, Bankiebhoy and Cowiebhoy, for the tips.
4 defeats in a row for the MOTM.
Feck knows what happened there…I give up.
Looks like the legs have come off the Sheep’s title challenge.
Bobby Russell
Was in your ‘Haugh pub often when you owned it. Great to put a face to a poster. :)
Dallas Dallas
my favourite night at Dukes was when Joe Strummer and Paul Simonon busked along with some associates
———
There are a few videos of that tour on the go
Sound quality is dodgy but that version of The Clash were actually a very good band, but were hindered by comparisons to prior line up, and that JS latterly lost interest.
Anyway, I am hoping to be in Glasgow tomorrow night at Audio.
Some mutual friends are planning to join me after they watch Jam 69 ( aka Sleaford Mods)
If you are up for it, text me
Derek McInnes Legned….
Ross County 2 Sheep 0 – screwed again ?
excuses to fail have played out for aberdeen – big match for us tomorrow – a slip up could give them belief again
Yon boy Boyce could have got mcinnes the sack tonight if he took only half his chances,
Glad he had an off night :-)
Staggies DJ plays Jim Diamond RIP. Respect.
Paul @pault1888 2m2 minutes ago
McInnes has had spray tans that have lasted longer than his title challenge.
Delaney’s, County have at least five ex Celts on their books plus your Chris as well as Liam Boyce , being Celtic fans.
Great result for County tonight and a wee bonus for us. Let’s hope we take advantage of it tomorrow.
Its a pity wee EBT Dodds is their assitant boss.
I think KevJ has been punting Jim McIntyre as a future Celtic boss.
TSOAL
Glad you liked my orange prodigy shirt. Breathe
Mon the Urban Reynard!
I have a funny feeling that Mr Big Hands Green is going to make this one of the longest trials in Scottish legal history.
Thats them fecked they normally put the back legs in their wellies.
Gonny be one shitey ride from now on
HeHe
Delanys Dunky
I nearly fell off the couch I thought you typed “my orange proddy shirt” no need for sectarianism on this blog !
I see my last question was too tough for you all :-)
HH
Dallas
Chris and Marcus like Billy Dodds. The token Dingwall zombie. :)
DD
It is a wan off
BBC 4 in 9
POGMATHONYAHUN AKA LAIRD OF THE SMILES on 16TH OCTOBER 2015 9:33 PM
Looks like the legs have come off the Sheep’s
Sorry in reference to the above
HeHe
Well a big match tomorrow we can go to the top of the SPL with a win but I dont expect it to be easy they will have a real go at us im sure. It will be an interesting team selection by Ronny I am looking forward to the match Come on you Bhoys in Green. H.H.
Clashcitybhoy, that was a very enjoyable night at Dukes.
We were in the Cul de Sac as it wasrumoured the band would be playing there. When Paul Simonon walked in , wow. He left about twenty minutes later and the bar emptied including some of the bar staff.
I nearly crashed into your car when you did a u turn on Byres Road, trying to get to Dukes as quick as possible.
It was an experience getting so near to Paul and Joe when they played outside Dukes. They only did about five songs before the polis appeared and stopped everything.
It would be good to join you tomorrow night but we are aff oot tomorrow night
GFTB
The only downer to the Hoot was meeting you when you were leaving. We will meet in the future and blether shecht about Celtic for hours. You are my type of Tim G.
Hail Hail
its Friday night, so time for a bit of music …. how about a bit of Gregory Porter?
https://www.youtube.com/watch?v=ZWUAKq-reLQ
Dallas
Kev would punt anybody with a Mac up for the Celtic job he still wants Wim & Murdo back, I would prefer Tommy & Billy Stark but we all have our favourites, when Kev reads this in the morning he will think we are in a clique, I don’t mind Kev’s rants and I am delighted he is still ranting but I have a wee sneaky feeling his posts are trying to get a rise out of another poster, I will not go on as I know the said poster is big enough and certainly ugly enough to laugh it off, and for the record before Kev thinks I an ganging up the poster he refers to I have met two times more than I have met Kev, but again it’s just a blog …..
HT hope you had a great holiday and good luck with your quest for a ticket for Tynecastle, I know you have went out your way to get tickets for others !
I remember during RFC(IL)’s nine in a row, and even during the MON era, if we beat them (or they beat us) we/(they) would invariably lose the next match. I thought the same would happen after the sheep beat us a few weeks ago. When they won their next match I thought they might push on and maybe open a wider gap. They have collapsed considerably now. From the snippets I saw tonight they were poor and didn’t play with the intensity the played with against us. I’m confident we will go on to win the league, tomorrow is a good opportunity to seize the advantage.
Delaney’s, Dodds must have redeeming features. If your boys like him, that’s good enough for me.
Has Chris been on the bench for them yet?
Talking of left backs, will Ronny pick Izzy or Keiran Tierney tomorrow. Izzy was playing for Honduras through the week.
TSOAL
BBC4 on amigo.
Thank you for the heads up.
Delaneys Dunky
My mrs is up at 5am on a Sunday (one of the main reasons I don’t have a season ticket) when I left was the witching hour, if I stayed another hour it would have been closing time, I left at the right time but I will be there again, never thought I would enjoy meeting strangers in a boozer but it takes all sorts and Cqn delivers…… There will be posts saying this that and the next thing but as I said to Thunder Road last week putting a face to a blog name is quite crazy, doesn’t make the Cqner any better than any other but it’s mad, and as for CRC & the rest if a couple of Bob is made for wee Shay or whoever who could ever complain
Dallas
Izzy will,play