The statement released by Duff and Phelps last night revealed the substance to the lobbying that had taken place since the original punishment handed out by the SFA judicial panel:
“The decision by the appellate tribunal to uphold the sanction, namely the suspension of registration of players for one year, is not competent in the view of the club and its legal advisers.
“Such a sanction was not available to the tribunal”.
The suspension of player registrations was not one of the suggested punishments on the menu for the judicial panel but the rules allowed them to vary from guidance and choose whatever punishment they believed appropriate.
The appeal correctly found that the judicial panel were not were not subject to an exhaustive list of possible punishments. Duff and Phelps main hope was that the SFA rules were unclear and poorly constructed, as they were before an overhaul last year.
You don’t need to look too hard for the irony.
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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Cup Final trebles for tomorrow.
Heart says Hibs, Blackpool & Bayern.
Head says Hearts, West Ham & Bayern.
Decisions, decisions
Gordon_J, starry plough
much clearer now
thanks lads
2010 Never Again
Meanwhile over over on fascist fascist where the rabidly rabid gather to obediently follow follow their latest saviour…..who just happens to be green (you couldn’t make this up, could you?) Read on…..
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Minutes from tonight’s meeting..
Apologies if already posted, can’t see it though.
Many key points.
Minutes from Meeting with various supporters groups chaired By Mr Charles Green, Sandy Jardine and Jim Hannah.
The Meeting commenced at 5:30 and ran until 6:50. There was an agenda produced by Mr. Green then the floor opened for questions.
1. Season ticket prices.
Despite no increases in the past three years and the desperate need for money coming into the Club, the prices will not be increased for the forthcoming season. An official announcement will be issued soon. The Ticketus deal is over.
2. Meeting with the SFA/ SFA Appeal.
Mr Keen, our Q.C. presented a strong case why the penalties were harsh. The sanctions were not actually in the SFA Rule Books. He stressed we were very likely to lose players. He spoke for one and a quarter hours. The SFA’s lawyer then presented his case.
Both Mr Green and Sandy Jardine stressed the panel were independent and not “football men”. Rangers asked for a quick decision in order that we may plan what to do next. The panel went away for an hour and a half and returned with the verbal decision, to be confirmed in writing, that the decision and sanctions stand
3/4. Deal Structure/ CVA/ Newco and CVA letter issue date.
Mr Green’s preferred route is a CVA. Funds are in place to pay the creditors. On or around next Friday Duff and Phelps will write to the creditors with the offer. The creditors then have 14 days to decide if they will accept. If all say yes, Duff and Phelps stand aside and Mr Green pays the creditors, although he will not yet be the new owner.
From making their decision, the creditors then have a 28 day cooling off period in which they can change their minds but Mr Green thought it unlikely any would do so having made a decision. Once the debt is settled, Rangers are out of administration. Crucially, the SFA looks upon things differently, and once the creditors accept – not when they get paid – Rangers are, in the SFA’s eyes, out of administration.
Scottish football is working to new rules, so it is vital all is settled before the 4th August – or we may face further punishments.
If we go down the newco route, it is along similar lines to Bill Miller’s except Mr Green will pay the creditors now. Bill Miller’s idea was to pay them off over three or four years.
Mr Green stressed that whatever happens we will not lose the history or the trophies. The Club was founded in 1872 before the days of incorporation. In 1899, we incorporated. In 1981, we re-registered. All with the history intact. All we get is a different number in companies house against our name.
5. Investor information.
Mr Green was looking into the purchase from 18th February. His idea is to have investors owning from 1% to 15%. All 26,000 current fan share holders will be invited to invest and given 2 or 3 years to fund their investment. The press have found out about Kevin McDonald and Freddie Shepherd and approached them. Both have declared an interest in investing but as yet, have not done so.
Mr Green has 5 or 6 people who have already committed to invest and who have paid money to be part of the dream. Some are from the Middle East and some are from the Far East. None are Rangers fans but are football fans. Their dream is to fund soccer academies in the Far East and to see Rangers progress in Europe, where the creation of a European League is seen as a reality.
The company will be listed and everyone will be able to see all who invest. At the moment they have asked for privacy.
6. Craig Whyte agreement.
Mt Green has met Mr Whyte on three occasions and has paid him £1 for the Club. He also paid him a second pound so that Mr Whyte could make a 100% profit on the deal. The thing is set in stone and Mr Whyte cannot back out. Mr Green stressed that anything David Murray or Craig Whyte did should be consigned to the history books and we now look forward.
The floor was opened to questions.
Asked what would happen if one, two or three of our recently called up International players got crocked playing for their country and we could not sign anyone because of the embargo, Mr Green and Sandy Jardine expressed their amazement and anger at how the situation may develop.
Mr Whyte pointed out to the panel at Hampden that we had three goalkeepers on our books and asked what would happen if they all got serious injury, would we have to field a team without a keeper? No satisfactory answer was forthcoming.
They looked at the team sheets and saw almost 40 signed players from 17 years of age up. Sandy Jardine asked them what would happen if all the experienced players left.
The answer was that we still had enough on the books to put out a team. Sandy Jardine answered that you cannot blood a youngster too soon. One bad game and he may be finished. But he told the Meeting the people he was talking to were not football people.
Asked if we should plump for Division 3, Mr Green replied that without Rangers there is no SPL and the other Club Chairmen know it. While other clubs fan may want us demoted, their Chairmen are businessmen.
Mr Green stated that while not a test case, if we were Crewe Alexandria or Arbroath, the punishments would not be sever, indeed there may be calls to assist us.
Mr Green stated that there may be a “year of pain” but that we would emerge from it and regain our place. Asked where he saw us in 5 years, he said “top of the League”.Mr Green paid great tribute to Ally McCoist, the management team, the players and to Rangers men such as Sandy Jardine and Jim Hannah who had given so much.
Asked about further investors, Mr Green said that he had held meetings today and would hold more tomorrow with Rangers fans keen to invest. They were, he said, major names in Scottish business – and Bluenoses.
Asked about future players Mr Green reminded the meeting that he had built and sold the largest sports agency in the world and still had the contacts. “who would not want to come and play for Rangers?” he asked.
Lastly, Mr Green stressed that it was most important that there should be no disruption to the Cup Final at the weekend. It would not be beneficial to Rangers.
murdochbhoy on 18 May, 2012 at 09:56 said:
Apparently the Portuguese have decided that the directors of any bank which requires state aid will have their salaries cut in half.
it’s s start at least.
There’s a fat lad walking around Santry, Dublin wearing a Rangers jersey. It’s cold and raining and he’s in his hun top, short sleeves.
The dying act (possibly literally) of a defiant hun.
Either that or he’s thick.
Sweatin’ like a hun in Dublin.
2010 Never Again
The future’s bright….. (wait for it)………It’s Green & Whyte
Dontbrattbakkinanger on 18 May, 2012 at 09:54:
“Aan Yung Suu Kyi and Nelson Mandela are lobbying vigorously for Sandy Jardine to be awarded the Nobel Peace Prize.”
It’s that antiseptic smile of Jardine’s that wins people over.
Regarding the big tax case, the most recent case shown on the department’s web site, which was posted last week, is for a decision dated 20th April in a case that concluded at the end of August last year.
The case related to a complicated, high value tax avoidance scheme, so in those respects similar to the huns case.
From this we might conclude
a. We might have to wait a bit longer
and
b. The parties will have the judgement a couple of weeks before it appears on the internet.
I remember the turn of the century when the loyalists felt they were being marginalised by the peace protests.
At the time,they were,politically,in a strong position. They were relatively united,and able to make demands on the UK government as they tried to water down any proposals which they saw as challenging their right to rule,well,pretty much as they pleased.
They decided to show everyone what they were up against,a show of strength,a line in the sand.
They chose Holy Cross Infant’s School.
It was the biggest mistake they ever made. The world was watching,and was rightly disgusted at what they saw.
Maybe they don’t know their history,more likely they are unwilling to learn from it,but I think the marching season will be a difficult time for individual Catholics in Scotland,and a watershed in public opinion.
Protests=process
First sentence as well………….
dirtymac,
there are also different forms of winding up a company too,
I’m hoping for the one that requires a full investigation into all transactions prior to and led to administration,
This can go back to identify the original irregularities and where it all started to go wrong, I wonder how far back such an investigation would go
sparkleghirl on 18 May, 2012 at 09:58 said:
”Apparently the Portuguese have decided that the directors of any bank which requires state aid will have their salaries cut in half.
it’s s start at least.”
So if a bank’s directors suddenly double their salaries we’ll know the bank’s in trouble.
Imatim and so is Neil Lennon on 18 May, 2012 at 09:57:
So many flaws in those minutes. They swallow more keech than an army of dung beetles.
‘the very large group of the ol’ CCS that are heading to Glasgow tomorrow ‘ – the ole ‘Collective Consciousness Society’, famous for the ole ‘Top of the Pops theme’ version of Whole Lotta Love, that was such a beacon in the childhood of ole Mr Johnny Clash.
Surely they can’t get themselves organised enough to disrupt a cup final? A few dafties may try something on their own but that’s about it.
They will all be saving their energy for the 1972 walk.
Last time Rangers didn’t qualify for Europe was in 1980 when they finished only 5th in the league, allegedley.
Also, hearin that Vitória Guimarães of Portugal also fail to qualify for Europe next season due to financial problems. Team below them (Nacional) to take their place instead.
Given that Once the debt is settled, Rangers are out of administration. Crucially, the SFA looks upon things differently, and once the creditors accept – not when they get paid – Rangers are, in the SFA’s eyes, out of administration.
So, does this mean that if the CVA is accepted, and the SFA considers them out of admin, then after cooling off some creditors change their minds, they go back into admin with another penalty???
Ok totally confused
Where Is auldheid when you need him??
Or paul67 to lay out the facts
What happens now??
Hmrc want their money
How do they get their wee tax case
And their paye money??
And what happens when they Btc Is announced ? How do they get their money??
Go to court and sieze assets???
ConfusedCSC
Ok lads cheers it’s that mob they have been getting away with murder for years and you sometime’s have that doubt in the back of your head.
Steinreignedsupreme on 18 May, 2012 at 10:07 said:
Imatim and so is Neil Lennon on 18 May, 2012 at 09:57:
So many flaws in those minutes. They swallow more keech than an army of dung beetles.
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2010 Never Again
I agree. It’s great isn’t it!
If the CVA is rejected by the creditors, can those creditors demand and enforce that all of Rangers assets are sold off to raise the highest possible amount?
For example Murray Park, Ibrox, the Carpark, the players and the trophies? They must all combined be worth well over £50m and probably closer to £100m. Surely anything else would be fraud?
So how many saviour is that now that’s tried to tell the huns they won’t lose theory history and how many different ways have they tried to tell them,you would have thought Charlie Green would’ve ran with Millers incubator moonbeam.
Their
Just Joan of the Daily Record decides to give Catholic Schools a break for one day…
I HAVE a dream. But it is one that is more impossible than winning the Lotto or finding out I’m sharing the duvet with George Clooney.
I want to wake up one morning and find there is nothing whatsoever in the paper, or on the news, about Glasgow Rangers.
Not a single peep, speculation, Sir Galahad of any colour, Lord Moneybags or Tycoon Charlie.
I am sick of an entirely pathetic, boring, drawn-out saga. Despite the number of words written and spoken about it, it is nothing – a mere pimple on the back side of the real news that is happening out there.
The fate of the euro matters.
The trial of Ratko Mladic.
This endless recession.
The sky-high unemployment figures. The Government’s attack on the most vulnerable in society.
Even our crazy weather – all of them, and an awful lot else, matter infinitely more than the fate of one poxy football club.
It’s gone bust. It can’t pay its bills. End of.
So why don’t they just padlock the Ibrox gates, sell off the assets and pay at least some of the debts – not least to the little people who are owed money?
They’re the ones who are really suffering – not the fans who have more-or-less happily allowed themselves to be diddled, as well as deluded, for years by their beloved club.
I also give you Clinton Cards. They have now gone into administration, too.
Thousands of ordinary people are likely to lose their living, there will be yet another big hole in our high streets as its shops close down.
How much space did the demise of Clintons get in contrast to Rangers? Diddly squat.
No big daft men weeping, anguished tweets or chatroom hysterics.
No unholy expressions of glee either from Clintons rivals.
The sense of proportion from footie fans in general is nil.
If they could put even half of the passion and energy they dribble away on their teams into something worthwhile, we might actually get somewhere.
We’re not even good at football.
We’re, what? Forty-eighth in the world rankings?
There’s not a Scottish team that could make it even in the Blue Square Premier down south.
So why can’t we just accept that whatever glory days Scottish football might once have enjoyed, they are not going to come again – not when there are clubs such as Manchester City having a squad of mercenaries on whom they spent about a billion quid.
But you know what? The only thing that keeps me relatively sane about the whole footie and Rangers thing is that, and listen up here people, I am actually in the MAJORITY.
Most of us don’t care about the so-called beautiful game with its over-paid stars, its bile and its prejudices.
More folk go to museums than attend matches.
In short, if not another ball got kicked at Ibrox, or anywhere, there are considerable numbers of us who would shed nary a tear.
There might even be room for issues that do affect us all.
A plague on all their pitches.
Lennon n Mc….Mjallby on 18 May, 2012 at 10:17 said:
So how many saviour is that now that’s tried to tell the huns they won’t lose theory history and how many different ways have they tried to tell them,you would have thought Charlie Green would’ve ran with Millers incubator moonbeam.
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2010 Never Again
Charlie Green is much too busy running with Craig Whyte
Greenjedi,
I thought the value of the assets for Murray Park and Ibrox had been listed as between 11-13 million.
Players with release clauses may bring in around another 8-10 million. Can’t see the estimates of 50-100 million being achieved elsewhere.
Hail Hail.
Morning allfrom a not-so-sunny Glasgow City centre!
God bless HMRC – Got home yesterday and had a wee brown envelope from HMRC. Didn’t open it till this morning and found out I got a tax rebate, as in, I had paid to much tax.
(For all the Hun lurkers, tax is something that hard working men and women pay into the state/society out of your pay packet to keep the country running!)
Before the begging letters start from Jangly Sardine & co it was only enough of a rebate to buy a match ticket to a game of footy!
Can any tax experts tell me why it is from the 2006-7 tax year though? And why now?
Thanks in advance :-)
HH
I am still laughing that within less than a week, the 20 investors are down to 5 possibly 6 and the “hundreds of millions” amount to 20.
Stupid huns…
Lovely warm day [ high 80s ] —–way down south..
Another tick tock day in the long slow death of the reactionary pageant purveyors .[ The Hun world is collapsing —— their present is becoming a foreign country]
Postman brought a surprise 2 x LP —–
Neil Young & Crazy Horse — Americana .
It contains a surprisingly good version of This Land is Your Land —– he makes it sound righteously angry and rips the song away from the dead hand traditionalists in Fair Isle woolies and baggy brown cords.
Parcel also contained a a pile of R Stevie Moore C90s —– just great..
Chuck Brown RIP
Donna Summer RIP.
Love to Love You Baby CSC -Way down south.
Well now we know how the SPL will deal with Newclub.
Scotsman
THE vast majority of Scottish football supporters not aligned to a club that plays out of Ibrox believe the game’s authorities will have some serious explaining to do if a newco Rangers is accepted into the Scottish Premier League.
Yesterday, chief executive Neil Doncaster invited a group of journalists along to Hampden to get his explaining in early.
Doncaster admits to being “baffled” that in this country such a distinction is drawn between Rangers exiting administration through a company voluntary arrangement [CVA], as prospective new owner Charles Green will attempt in the coming weeks, and doing so by moving the assets to a new company [newco] as the old one sinks because of debt, as he probably will be forced to do to effect a successful purchase.
Doncaster simply does not accept that morality and sporting integrity are served very differently by throwing yourself at the mercy of your creditors, as in a CVA, or simply walking away from them, as in the newco route. A newco, he says, could raise more money for creditors than a CVA. He could give no examples where this had ever occurred in football. However, the SPL chief executive did provide examples from England, with the cases of Luton, Bournemouth and Rotherham, where clubs have failed to obtain a CVA, set up a newco, and retained their same league status, but with a points penalty – as will be one of the new financial fair play proposals clubs will have a third go at voting on come 30 May.
No club in Britain. Doncaster says, has been asked to “start again”. That is what is sought by those who say that if Rangers stiff creditors for what could be up to £100 million with a newco move, the reconstituted Rangers should not be admitted to the SPL but work their way up from the bottom of the Scottish Football League. Rules governing insolvency events at football clubs should not be determined by the “attitude of creditors”, argues the SPL chief executive, who balks at the notion of “admitting” a new Rangers. “The football club will continue to be there [in the SPL]; it’s only the corporate entity that changes. The matter for debate is on which basis the club’s football share is transferred to that new entity,” he said.
If an SPL vote is required on accepting a newco Rangers, an 8-4 majority would be needed. Were five clubs to vote against the share transfer, Doncaster would not give an answer over whether he felt their actions could be considered “daft”. He didn’t come up to Scotland for an “easy ride”, he said, when asked about the impossible situation a newco Rangers would put him in.
Supporters throughout the country are threatening to turn their backs on the game if the way is paved for the entity to replace the previous one, while club chairmen fear for the financial viability of their businesses if this doesn’t happen. Doncaster and his SPL could find themselves between the devil and the light blue sea. If the newco vote is needed, its outcome will be perceived as either anti-Rangers or soft on Rangers.
Doncaster said: “All I can say is that we will continue to deal with clubs equally under the rules. Our job is to apply those rules, equally, without fear or favour to every single one of the 12 member clubs. It’s our job to explain that what we are doing is treating people equally. If everyone understands that then, what will be the reason to be aggrieved about the outcome? Every club will be treated exactly the same. I can’t get into ‘special cases’.
“Whenever I speak to people about the distinction between a CVA and a newco what I keep being told is that it’s simply wrong that any club should be able to create a newco and shed debt. As if a CVA doesn’t lead to the shedding of debt. Administration is the protection the court gives you when you can’t pay your debts. There are two ways out of that; one is a newco, one is a CVA. Of the six administrations which have happened down south in recent years two went with a CVA and a newco, Palace and Plymouth, and there were four where there was no CVA and a newco.
“The distinction between the two is relatively fine. To draw such a huge distinction is just wrong. When Livingston were relegated to Division Three did they cease to exist and start again? Of course they didn’t. Leeds are the same. Every single club which has had an insolvency event has either continued as a football club or has ceased to exist. I’m not aware of any club which sort of started again. Of course it’s not okay to waive £90 million of debt, of course it’s not. But it happens. In football as in business.”
Doncaster’s assertion that “attitude of creditors” should not be decisive in how football debtors are treated fails to acknowledge that this is true in every monetary transaction the world over in which one party has failed to meet its obligations. If a footballer had his contract terminated, were he to accept a shortfall in his severance package, there would be no issue for the authorities. If he registered a complaint, though, this could end up in sanctions against the club.
In terms of seeing any Rangers newco as the same as the old club, Doncaster is consistent. For any punishments arising from the SPL’s ongoing investigation into non-disclosure of payments to players at the Ibrox club between 1998 and 2010 would be imposed on a newco. “You would expect the football club to take with it responsibility for anything that emerged from that investigation,” Doncaster said.
The SPL chief executive would not enter into discussion over whether Rangers could have improperly registered players for 12 years because of the manner in which they administered a tax avoidance Employee Benefits Trust scheme. It is the subject of a tax tribunal, the verdict of which is currently awaited and could land Rangers with a £60 million bill from HMRC.
Former owner David Murray admitted the club paid appearances and bonus money into EBTs to shield them from tax but didn’t divulge these transactions to the authorities because they were “discretionary”, despite the fact all payments are covered in the SPL rules.
ASonOfDan on 18 May, 2012 at 10:21 said:
Have the papers not got pictures of Swally’s new warchest yet??
Even the Teddies are getting paranoid with each other
Is Leggate paranoid?
greenjedi,
£100M sober up, did you do mintys valuations,
our hero will be lucky to cover his guarentee to ticketus
murray park uses limited, lloyd tennis thingy £5M max
the bigot dome uses limited, demolition very costly due to asbestos and listed £10M max
Car park is about the best bit of real estate they’ve got £2 or 3 M max
Greenjedi
What you are talking about is liquidation, i.e. making the assets liquid (turning them into cash) to be returned to the creditors. If a CVA is rejected this is indeed what happens. Players aren’t really assets though, in liquidation their contracts are either null or taken over by the SFA, and as such they cannot be sold to raise funds for creditors. Ibrox, Murray Park and the car parks would probably fetch an amount similar to what is on the table from Green. If there were a substantial difference then the administrators would not have accepted the offer.
Going in to Celtic Park to renew my season tickets, anyone confirm if there are queues?
There were almost 2,000 people at my secondary school. None of them were called Sandy.
From memory most of them were called Gerry, John or Doxy.
starry plough
Green has now admitted it is a piggy bank. :0)