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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What was the final score???????
wonkyradar on 22 May, 2012 at 22:28 said:
I’m stuck in a void between posts- where am I?
Anyone out there?
Hello.
Hello.
It echoes out here…
Are you a Hun? por cierto….
It’s good to see a big Glasgow club in a benefit match where the proceeds aren’t going to pay the administrators of their own club
sparkleghirl on 22 May, 2012 at 20:49 said:
You should write about how you came by Celtic, Sparkle, and ping it over to Paul for the magazine. Just a thought.
new article posted.
You’ve all heard of the Tv series ”Game of Thrones”.
Check out the new Blockbuster “Game of Bids”.
http://i.imgur.com/3BbGT.jpg
HH
Paddy G
Aye, tear jerkin stuff
Thanks for posting it
Very exciting first twenty minutes- lot of positives from the youth bhoys- then we got very tired & a bit disjointed. Thought established guys like commons, stokes, hoops all looked jaded.
Support just make your heart burst with pride.
Hail. Hail.
Off to wwatch some made film called Coriolanus.
HT bliddy school teachers, ye could have done it at play time.
Ps playtime at St Mungos in Greenock was when the other lot fired bricks, stones etc over the wall, who taught them I wonder?
I blame non catholic schools, but only in Scotland, the rest of the world don’t bother.
V
Hx2
Don’t sell McCourt still laughing…… Norwich fans having a party when rangers die….. Ha!
Loving it CFC
Drinks got to me: meant first 70 mins was exciting…then we tired with 20 mins to go.
Paddy Gallagher 22.26
whit you trying to do to me man im sitting alone in front of a computer in tears.
I held up well but when he got the 4th yesI crumbled pure unadulterated joy from the boyAs an old friend always says to me “when you run out of gratitude for what you have,look round about you are be grateful for some of the things you dont have”.
a big well done to the Hoops fans for their incredible support at norwich tonight SUPERB AGAIN!!!!!!!!!!!!!!!