This evening’s statement from Gordon Smith, effectively claiming he was not in control of “recruitment, scouting [and]transfer negotiations” at Rangers confirms many rumours of power-struggles between him and manager, Ally McCoist, who, apparently, didn’t allow the director of football his way on recruitment matters.
Rangers made it known that wages for February were paid today and that Smith and, also now redundant, Ali Russell, will both continue to work until the end of the month. This begs the question, who else will go before the end of the month?
The first responsibility of an administrator is to try to keep the company trading. Duff and Phelps have been trying to do this. While it was a surprise (to me) to see Rangers director, Dave King, at Ibrox meeting the administrators with McCoist yesterday, King, along with other directors, wealthy fans and perhaps even the former owner, will all have been asked if they would be prepared to put money into the club to keep it ticking over until the end of the season. My information is that no one has put as much as the £1 Craig Whyte put on the table to buy the club last year.
I could break off here and tell you about the man that walked into a Bank of Scotland in 1994 and paid a huge sum of money into Celtic’s account to prevent the club going into administration. He had no guarantees from the old board, who still owned the club, and future managing director Fergus McCann was in no position to guarantee anything either, but that’s a story for another day, I’ll wouldn’t bring his name into this sorry tale. Suffice to say, in our hour of need, someone stepped forward.
It’s now a matter of cash. With wages paid until the middle of next week there is no immediate danger, but the administrators will need a pretty good reason to believe they have wages for March before they retain staff until Thursday next week.
The loss of Russell and the general state of chaos that having to work with various government agencies, including police investigators, will make the business of running a football club technically difficult. They have already missed an important action, but it’s not my job to point this out to them. Until it’s too late.
The Celtic Football and Athletic Company Ltd
I think when you have been asked the same question about six times in a few days it’s worth explaining the issue here. If a football club is liquidated it’s finished. Continuity with its history and records ends. This is not the same as a football company changing its name.
Celtic was established as a sporting club at a meeting in a church hall in November 1887, in many ways, no different than a million other football, karate and badminton clubs. It subsequently registered with the SFA in 1888. In April 1897 it incorporated as a private limited company, registering as The Celtic Football and Athletic Company Ltd at Companies House. It was the 3487th company to register in Scotland and was given the incorporation number SC003487.
In 1994 the company became a public limited company and changed its name to Celtic PLC but, of course, remained the same company, with the same incorporation number and retained the same registration with the SFA. You can check our corporate history, from incorporation in 1897, to name change in 1994 to our most recent annual return, dated 31 December 2011, at Companies House here.
On the same day Celtic changed its name to Celtic PLC, Fergus McCann changed the name of an off the shelf company, securing the old trading name ‘The Celtic Football and Athletic Company Ltd’, which is fully owned by Celtic PLC, but is not registered as a football club. I assume this was to secure our old name for the club and to protect it from potential abuse.
Don’t let anyone tell you our history ‘started in 1994’. We are very much the club of Maley, Quinn, Thomson, McGrory, Stein, Johnstone and Dalglish.
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RalphWaldoEllison
here’s the article you may have been referring to
(from STV, so no linky thing, am still bhoycotting thum)
Craig Whyte used Rangers future income from catering to upgrade kitchens at Ibrox
The Ibrox club received new cookers and kitchen equipment as part of £1.7m Mr Whyte pledged to put into Rangers.
By Mike Farrell
23 February 2012 13:03 GMT
Craig Whyte used Rangers future income from catering to upgrade kitchens at Ibrox
Rangers owner Craig Whyte used future income from the club’s match-day catering to pay for new kitchen equipment at Ibrox.
The club received new cookers and other catering equipment in a deal with finance house Close Leasing in October 2011.
This equipment from the Surrey company made up part of the £1.7m investment to upgrade the kitchens and big screens at Ibrox, promised by Mr Whyte in his purchase agreement when he took over the club last May.
According to documents lodged with Companies House, the agreement with Close Leasing sees it receive a proportion of the income Rangers make from their contract with catering firm Azure. It is understood this revenue stream is being used to pay back the debt for the kitchen equipment.
The amount Rangers owe Close and the length of the deal is not publicly available. Close Leasing refused to comment, stating that it was a “confidential client matter”.
Last year, Azure renewed its contract with Rangers for nine years, and also took over cleaning duties at Ibrox, in a deal worth £35m.
The use of the finance tactic by Mr Whyte to pay for part of his pledged investment in Rangers comes after he finally confirmed he had sold future season ticket sales to London firm Ticketus for £24.4m to help fund his takeover.
Administrators Duff and Phelps revealed £18m had been taken from the Ticketus deal to pay off the club’s debt to Lloyds Banking Group, while the insolvency firm is currently trying to account for the remaining £6m or so from the season tickets payment.
______________
ps – heard Craig Whyte IS Kaiser Soze !
http://www.youtube.com/watch?v=BgkBpWc8ngI
Summa – I listen to it live.
They really are clueless. why dont they have a guest on (finance expert etc) each day as they can’t answer most of the questions asked. Really a joke of a show.
haha
still laughin at that one….
the SO-CALLED !
the so-called BIG tax case, the so-called WEE tax case
haha
whoever made that up
genious !
aw these boffins havin to warble with that one
gets me laffing every time
time for bed
evenin all
lang may yer FTT verdicts procrastinate
Jan 2013, please !
take yer time
bottom of the 3rd Division
and Whytey must stay
:)
.
Courtesy The Scotsman..
Stephen Halliday: Craig Whyte’s catastrophic tenure leaves grand plan in tatters
Published: 24 February 2012
Craig Whyte flanked by Ali Russell and Gordon Smith. Picture: SNS
EIGHT months ago, Gordon Smith and Ali Russell were the first high profile appointments of Craig Whyte’s regime as chairman of Rangers.
Yesterday afternoon, the same men became the first to lose their jobs at the Ibrox club as a consequence of Whyte’s fateful decision to place it into administration.
As Whyte’s cataclysmic tenure of Rangers continues to unravel dramatically, with Strathclyde Police now joining the SFA and HMRC on the trail of the financial chaos now threatening the club’s very existence, the departure of Smith and Russell seemed highly symbolic.
For while their respective roles as Director of Football and Chief Operating Officer would inevitably be among the first to become surplus to requirement in administration, their presence had been presented by Whyte as evidence of his clear strategy for the club’s future.
It was in the Willie Waddell Suite, named after a man whose appalled reaction to the current predicament of his beloved club could barely be guessed at, that Whyte proudly welcomed Smith and Russell as his lieutenants last June.
“We as a team have to get it right,” said Whyte. “We will get it right. Ali, Gordon and Ally McCoist are all perfectly capable of running their parts of the business, so I’m just going to be as hands-on as I need to be.”
Time will tell exactly what Whyte had his hands on as Rangers chairman but it is now clear that Smith and Russell were effectively neutered from fulfilling the roles so grandly set out for them last summer. As Director of Football, according to Whyte, former Rangers midfielder and SFA chief executive Smith would be charged with running non-first team football operations at Murray Park, including the scouting and youth development set-ups.
Instead, he quickly became a marginalised figure at the club, frustrated by the lack of resources, authority and co-operation afforded to him in pursuing the tasks he had expected to fulfil.
Russell, a former SRU marketing executive with previous football experience at Hearts and QPR, was charged by Whyte with the day-to-day running of Rangers’ business and commercial affairs from Ibrox. He spoke with enthusiasm and sought to outline a broad vision for Rangers’ progression as he sat by Whyte’s right hand on day one.
“It’s about looking at all avenues,” said Russell. “It’s about looking at the real estate here. How do we maximise that? Is it just a football ground used for football or does it have more uses. How do we sweat that?
“Obviously, football is the core focus but can we use the rooms on non-match days more effectively? What do we do to grow the brand, where do we play as a football team? How do we integrate international players so that we’re building the brand in different markets? Where do we go with our own broadcast rights? There are numerous areas we are looking to investigate.”
Plenty of questions, but as with so much in Whyte’s regime, there turned out to be precious few clear answers.
There was initial talk of reviving the G51 project for development of the land around the stadium, while Russell also re-floated the possibility of taking Old Firm fixtures overseas. But there was little of substance, almost certainly because of the manner in which Whyte was running Rangers financially on the road to administration.
Russell and Smith travelled together to Brazil in December and spoke enthusiastically of a possible link-up with Sao Paolo giants Corinthians.
There was also an abortive attempt to gain a foothold in the Indian market when internationals Sunil Chhetri and Jeje Lalpekhlua were brought to Glasgow to spend a week on trial being assessed by a clearly underwhelmed McCoist.
In the absence of any firm strategic planning from Whyte and his management team, the ideas raised began to become increasingly desperate regurgitations of previously discredited schemes. In January, Russell even unearthed the old chestnut of a British Cup tournament to replace the respective League Cup competitions in Scotland and England.
“Even playing against lower league sides would offer something different and it could take us to some places the team hasn’t been to for a number of years,” explained Russell.
As he and Smith ponder the next moves in their careers, Rangers are certainly heading on a course never charted before in their 140-year history. Wherever it takes them, yesterday’s developments certainly provided final confirmation that Whyte’s regime is a busted flush.
Summa
Hilarious is an understatement.
Just had to reprint this one:
Paddy Gallagher says:
23 February, 2012 at 22:21
bankiebhoy1 says:
23 February, 2012 at 22:14
thats Bob Agg just pumped 500 smackers into the kitty!
*****************
Jeezuz, that will be the RSPCA chasing them as well now.
share
Given their common bond of bigotry and their respective taxing problems why don’t the huns and the mini-huns merge?
They could call themselves Heart of Midlothian Rangers Club; HMRC for short…
(George Galloway).
Just opened the link to the Scottish Sun. One of the banner headlines ” 2 for the price of £1 this weekend” I thought it was a “buy R’gers get Hertz free” deal for a moment!.
Police not playing the game any more eh. Pay up or the ba’s burst.
Seriously,lads.
There`s a film in this.
Smith = spineless rat.
He is mouthing off in the papers this morning that Whytey (my hero btw) was this that and the other, yet 1 week ago he was prepared to stand there telling all the Ibroke unfaithful thast it was basically all ok. Soon as he realises his wages are gonna stop, he walks and starts yapping to the press.
Good morning friends and a Big Happy Friday from a damp but mild East Kilbride.
Jobo
afternoon from a warm Phnom Penh
ive been reading last nights blog… very very funny
i see that who made a pledges can be happy with their work and an amazing 6m has been pledged in the fight to save the mighty manky gers.
well done bhoys :)
.
MacJay..
Hope Yir Guid Buddi..
What do You.. And Kitalba et al.. Think of the Rudd Vs Gillard Fiasco..
Me Im a Kevin07 Man.. Very Interesting Soap Opera tho..
Summa
hi bhoys
anyone heard this rumour..
<>
Still think the raangers 1873 brand name would make a good trophy, and stop anyone ever reclaiming their history, Celtic should make it a prioroty, emdy think our hero whyte would have a problem selling it to us.
ha ha ha ha stupid huns
jimmybhoy…,
is old news :oD
Summa
I`m great,pal.
Absolutely loving the shame and embarrassment of Rangers.
Re. local politics
Krudd or Dullard?
A plague on both their houses.
Oz is doing so well.
Imagine if we had had a sensible govt. over the last few years.
You`d probably guess that I don`t fit into the Tim stereotype of supporting Lobor govts.
If you`re heading up this way ,I have wee bottle of the finest Scottish water of life.
Just looking for an excuse to open.
Have been enjoying your descriptions of Timmy celebrations in Melboornay ,as my wife pronounces it.
Here`s tae us.
Brogan Rogan Trevino and Hogan supports Kano 1000 says:
24 February, 2012 at 01:31
Wot a laugh…..’The Saga of the Twisted Knights’…..excellent.
Great post, made me laugh, made me think………c’mon Hector George time to pull another stroke, not the big one but something to help the duffers to think long and hard.
As to the movie,book,play,epic poem,……we know who the script writer is,BRTH.
Hope its an interesting Friday, 10 days post administration.
HH
Morning Celts and happy Friday Fae a mild, dry and soon to be sunny NW of engerlund.
As midweek a 2-0 win will do ra morra.
HH
Over the years, Rangers have been so kind to us gay people that I thought a donation to saverangers.com would be appropriate.
L O Sailor
They fell for it big time, muppets:
http://www.scotsman.com/sport/football/spl/rangers_administration_fans_rally_to_cause_with_pledges_close_to_6m_1_2135520
I have many happy memories of the music played at Ibrox at half time in the 80’s. Donation made.
Carmen I Lean.
according to today’s Herald Rangers now owe Strathclyde Police £20,000 for patrolling the Kilmarnock game at Ibrox last weekend. Does this mean that Strathclyde police have agreed new payment terms beneficial to Rangers?
Good Morning,
Hilarious to see most of the papers running the story that the bares have rallied round and pledged £5 Million on one day.
I think a pledge from Broxi bear will be made in the next few minutes…
HH
prestonpans bhoys says:
24 February, 2012 at 07:39
You forget the link creator?
Keep the Faith!
Hail Hail!
Paul67
Regarding the change in name I believe your are alluding to what will Newco be if and when it comes out of liquidation.
If it is a derivative of Rangers 2012 or whatever they will want to say it is still the same club. And in many ways if it walks like a duck and quacks like a duck…..it is probably the same huunish organisation as was before.
The big question for me is if they are found guilty of this tax evasion on a grand scale then they should be stripped of all titles won during the period of when that tax evasion took place. Let them have their tainted history….(dignity indeed).
They should also be made to start at the bottom of the Scottish Football League, the SPL should be no platform for an entry of a Newco.
If it is to be then it should start with at least a 20 point deduction each season for the next ten.
In fact even if the start at the bottom of the SFL they should have an automatic points deduction. They have cheated the whole of Scottish Football and indeed the people of Scotland not just the SPL.
And just to add to their on field worries…
Papac banned for the games against ICT + Hearts
Edu banned for the Hearts game
Goain also one booking away from a ban
chortlechortlecsc
last night it seems like a more than a few bhoys were having a lot of fun with the winding up of the huns (no pun intended)
very very funny
Gents, had a busy day yesterday – what’s the craic with the Save Rangers site. A wind up, or the Bares clutching at straws?
HH
Giggs
BRTH 01.33
Brilliant. That explains the Liberian Rolls Royce outside Hotel de Paris, when visiting Monaco last August, thought I had seen the guy somewhere before.
Still catching up – Wednesday’s Duff statement – Day 8 (Wednesday) of Rangers Administration – I’ll Have Some of What Duff & Phelps are Drinking!
http://scotslawthoughts.wordpress.com/2012/02/24/day-8-of-rangers-administration/
Breaking news:
Mr U. R. B. Gots has just pledged £19.67 to save the light blues…
The next time Gordon Dalziel and his cronies on Radio Snyde tell a caller he’s “getting ahead of himself” when talking about Rangers in liquidation, someone should tell them that every time they mouth off about Celtic and the SPL needing Rangers, they are “gettin ahead of themselves”.
Ron Bacardi
Thats what I’ve been wondering .
Reading between the lines maybe the polis came to a “special arrangment” with ranglers to allow the game to go ahead.
£20,000 is surely much less than the normal costs.
I’m sure Celtic would like to be charged only 20 grand for matchday policeing.
Paul McC – keep them coming mate, really appreciate it.
Good morning CQN from the Paisley fast train.
Just by the the big hoose, the lights are out and that’s the bottom line….
A special mention to MWD, for his persuading charity work and donations to save the huns, can any of you beat (as in better) him?
Keep up the great charity work bhoys, some great posts last night but please slow down, cannae keep up with ye.
hh
bjmac
Has Lucas Aid (lucasaid@trophycabinet.com) made a cheeky donation yet?
Morning Bhoys, reading back. Its never dull on here. crackin. so who getting the boot today in the big bigot house? the whyte night? or swally?lol
KLV
A Hugh Dallas has just pledged a donation email address coinsthrownbyoppositionsduetomyincopetence @whereverthemightybearsplay.com also has registered his address as 2 Manymillionsa Road, 6 million monopoly monies raised so far