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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Just pledged as Donald Trumped of 12 Leavusa Lane, Bustville, Skint City B72 D12
Mick Collins, thebigfella@bealnamblath.ie just donated £1916
A true bear so he is!
Gordon_J
Re the CVA and CW or the lack of him and her maj’s trusted peepil.
If the administrators can’t get a CVA, their job is over, it’s blender time, they will do everything in their power to get one, they will put it to the creditors, and it will be knocked back, they will try again to jig it around and re introduce it, and on, and on, all the while they are creaming in 100k a week for their company, who are above any preferred creditor
SOAL
The above to Gordon_J tells me there won’t be a hun team next season, 21 weeks till it starts, no way will they have a newhun co up and running in time.
All it would take is someone to take them to court, a criminal investigation, two sets of newhun co wanting a place in the league, etc. etc.
All this without the legal fight of who owns the hun, and who actually owns the big hoose, I am soooo much looking forward to the next few months.
With a bit of luck, Minty will be getting his gong stripped from him, but the peepil I really want to see getting their cumuppance are the suits at the SFA for destroying the game in scotland and for their attempts at destroying the club I love.
“Vincent Depaul”
That one will hurt!
:))))))
TopCorner says:
23 February, 2012 at 22:53
Very poor when I was in, but to be fair it was only open for about a month.
Philbhoy wasn’t too impressed either at a later date.
Stu Pidhun and Jerry McGuire (showmethemoney@hotmail.com) have both stepped up to the plate and donated.
Guys I know we are all having a laugh at the expense of save the rangers site but I got some solid info that Far East investment is ‘imminent’.
Wei Don Wok has just pledged £1916.
El Mad
rumbleinthebroxCSC
I just did my bit for the cause and pledged £1000 as hughjarses@yahoo.co.uk. They don’t check your email, huge arses indeed.
TET,
And a few in the press, would be the raspberry sauce on the ice cream
TET
10 million sent to the savethebears fund
I always pay my debts
craig Whyte
You would think Alex Salmond might have put his money where his mouth is, eh?
Oh, wait….. He just did.
andrew kerins just donated.
TC
Never been but girl in my work was there on Saturday and raved about it.
Re Whiggy
I am sure I read somewhere that when he took on the role at Rankers, he thought he could still continue with his ‘punditry’ at the BEEB .
I think even the BEEB realised that this may not be appropriate.
I would be surprised to hear him on radio or TV this season, but I fully expect him to be back next season.
Maybe he can do the co-commentary on Rankers European Campaign :-)
A significant aside to Smith and Russell leaving today that I think has been overlooked by the media :
They are now 2 drivers down for Sunday’s trip to Inverness , as they’re travelling in cars to the game !!
Tom Hark not pledged anything yet?
……………”dated 31 December 2011, at Companies House here”.
Good spot Paul and quickly changed.
I was getting worried there, when I saw that other company, presumably your own.
Nice to see His Holiness getting involved on saverangers.com by donating £100 for every Benedict that’s ever sat in the Basilica of St. John. A true man of forgiveness – they remove eggs Benedict from the Ibrox menu yet he makes such a grand gesture. What a guy!
Walter Nosurname pledges
Newsnight Scotland:
Whyte might lose secured creditor status
paul . someone,s keeping them afloat at the moment .
Also Cant fathom out why jabba and his sidekick are still getting hot and bothered defending moonbeams , there must be a reason .
Has ogilvie left the building yet .
We all know where wiggy will re surface . dont we ?
jimtim
BBC2 now- Whyte may not be preferred creditor,deal with Ticketus may not happen.
G. R. Imreeper (g.r.imreeper@hotmail.co.uk) just had a donation of £1000 accepted LOL!!!
From RTC…
GerryBraiden Police still unpaid for weekend’s Ibrox
game and won’t provide officers again until debt cleared
and cash up front.@TheHeraldPaper
Sydney Donor in for a ten spot.
Tim Burr pledges £1888
soulboy
gunslinger, on 23 February 2012 – 05:34 PM, said:
with 5 million vat from ticketus and 4.7 million small tax case I didn’t think the numbers added up.
How can we be owe £5million in vat ? vat is 20% which means in 9 months we would have had to have sold £100 million worth of assets to be due that.
Non discerning schools Dux Litterarum 2000
Noah billyamatim pledges £1888 furra big hoose.HH.
Wee Don Dowalkaway @ hotmail.com has chipped in £500
Gerald Ratner
Has just left 300 shops for the bears
Hugh Jarse £5000
Message just in from Craig Whyte…
“Get it roon ye huns
Weather great”
Michael Jackson in for a monkey.
Baxter D. Wall has made a generous contribution
RFC are gonna wriggle out of this.
Has anyone been sent a picture or email of a poster being held up at the darts behind Phil Taylor?
Apologies if this has been discussed already but hardly been on today.
Hmmm… Newsnicht trying their best to get Whyte out – claiming his security does not exist and that the Ticketus deal can be “unwound”
Also saying HMRC will agree to a CVA if Whyte is gone.
Has Hector no made a pledge yet?