Green’s failure to make an offer more telling than Doncaster drama

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There are so many plot lines in the epic story that Scottish football has become it’s easy to lose track, especially when the chief executive of the SPL insists that he still doesn’t know if Rangers have a case to answer in connection with improperly registered football players  – a completely untenable position on week 11 of the inquiry.

He should know.  If he doesn’t, he should resign and allow someone else to pick up the baton.

While this drama has dominated headlines the important storyline happened off-stage.  11 days ago the Blue Knights consortium, fully aware of how time-critical events were, said their accountants needed to be place at 9am on Saturday 12 May for Rangers to achieve a CVA.  Even more importantly, they also said that a Newco would not work.

If the Blue Knights men were in place on 12 May creditors could have voted on a CVA this time next week.  As it is, creditors still have nothing to vote on, the prospective buyer has not been able to put a deal to them.

Green’s failure to produce an offer since being appointed nine days ago, alongside missing his own deadline to announce a creditor’s meeting on 6 June, are the most important acts in this month’s play, so far.  He has to find funders who are able to see a return on investment which Paul Murray and Brian Kennedy tell us does not exist. It’s worth noting that both of these men will be far closer to the financial realities of running Rangers than anyone Green will find in Bangalore.

Unless a consortium can be pulled together that will offer money for the assets of Rangers FC, the company will expire next week when it runs out of money.  No CVA, no Newco, no matter what Neil Doncaster does.

Don’t be surprised if Mr Green walks away soon.

You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.

The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.

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620 Comments

  1. NatKnow - "We welcome the paper-chase..." on

    Wot, no “Norwich v Celtic, Live updates” article??!!!

  2. Shocking goal, sack the manager!

     

     

    Tony Watt looking excellent.

     

     

    Ibrahim looks tidy.

  3. ASonOfDan

     

     

    Disappointingly big bad john never set him right.

     

     

    Celtic second to everything Norwich well on top

  4. glasgowghirl on

    Can anyone tell me the words of the achey breaky heart paddy mccourt song we were just singing?

  5. O.G.Rafferty on 22 May, 2012 at 20:19 said:

     

     

    What’s your take on Alex Thomson’s recent article on Tristan Loughrey. I have to say it looked a bit odd.

     

     

    Árd Macha

  6. Estadio Nacional on

    Paddy ‘Pirlo’ McCourt playing well in the deep play maker role.

     

     

    If only we had the guts to play him in the middle every week he would be outstanding.

     

     

     

    TheGeniusCSC

  7. Neil Lennon is ainm dom (nohunlover) on

    Celtic fans absolutel magnificent. Sound from my TV is crazy

  8. sparkleghirl on

    Seven Fishes Four Steaks on 22 May, 2012 at 20:23 said:

     

     

    Crossed wires there I think but thanks anyway, I’ve been humming along :)

  9. This is a very young side. They are doing well, and with a bit of guile would be level.I’m happy enough. Paddy McCourt hasn’t been fazed all night and has produced some lovely passes.Tony Watt is a real find.

  10. Message to the Celtic FC Board, the atmosphere tonight is what you get when friends/ supporters clubs are able to stand ( sit lol ) in the same area. This support is worth 2 goals per game.

     

    Hx2

  11. O.G.Rafferty on

    Árd Macha, 20:23

     

    It is a more than a bit odd, but he knows that too and part of this story is reporting these odd things. He is also well aware that tomorrow’s news will soon swamp this non-story

  12. glasgowghirl on

    Seven Fishes Four Steaks on 22

     

     

    May, 2012 at 20:25 said: Sorry that was for Glasgowgirl

     

     

    SffS

     

    Thanks! Watching game on a stream. Our fans are awesome.