I caught a bit of yesterday’s newspapers; the contrast between an article in The Herald, linked from the Quick News section, and one elsewhere was stark. It brought to mind a very politically incorrect cartoon depicting a conversation someone trying to explain the consequences of a football club getting into vast amounts of debt. “You don’t have the intellect to understand what is happening” was the active line.
This far into actual news [def: hard information about a subject] on how Rangers were being run by the board in charge prior to Craig Whyte’s takeover, some are still flogging “EBTs were legal”, “No one complained about EBTs at the time”, “Juninho had an EBT”, as though somehow any of this was in doubt or relevant to the question.
The only show in town, to use our favourite phrase from last season, is ‘Were players illegally registered?’ You can pay them in cash, by EBTs or by boatloads of bananas, you can pay them when they were playing, before they were playing or after, the timing makes no difference whatsoever, but did you record all contracts or did you hide dozens of contracts from oversight?
Anyone who, this late in the debate, is blabbering on about EBTs being noted in Rangers annual accounts either doesn’t have the grey stuff to grasp the point, or somehow believes they can knowledge manage their readership. “You don’t have the intellect to understand what is happening”, is perhaps the message they are sending out.
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Those who seek to defend ‘Rangers’ from the current indictment – that they invalidly registered dozens players over a period of 10 years in order to disguise from HMRC the true nature of a £47M tax evasion scheme implemented to enable them to wage players they otherwise couldn’t have afforded – have had a full 6 months since the issue was first raised on CQN.
In the intervening 6 months they have developed their argument in defence of the practice thus:
1) It didn’t happen
2) OK, it did but we refuse to accept your authority to question us
3) What about everyone else?
3) David Murray would have paid the wages anyway
4) It was just an administrative oversight
Tectonic plates move more quickly than the combined wit of these people.
“An Administrative oversight”. Is that it? In six months of thinking about it?
Good Lord.
Claims that Dodo FC would have signed the various players anyway reminds me of a funny event way back in my old primary school football days.
The ball was rolling towards the sideline when one of my team mates bent down and picked up the ball. The ref awards a free kick. To which my team mate replied, “Aw ref. It wis goin oot anyway.” After everyone had stopped rolling around laughing, the free kick was duly taken.
Methinks Dodo FC can claim “the ball was going oot anyway” all they want, they are still due to be on the receiving end of a free kick (or should that be a fly kick – whadya say Moisty?).
Paul ?
Would I be correctin saying this …
EBT in a nutshell
EBT is legal…
Cannot be contractual (in writing) or liable for tax
SFA rules that you cannot have a side contract … Therefore an EBT must be in the big contract .. Therefore liable for tax
Therefore if players have an EBT tax free then they are not correctly registered for domestic or European football
If it is not tax free then it is registered with SFA and hector needs paid
If it is avoided … Then players were not registered and tax need paid as they knowing did so ..
If Moonbeams would have paid the wages anyway -what is stopping him doing it now ?.
I am sure if he doesn’t have the readies -a Scottish bank will lend it to him [ and probably not expect to be repaid -the dumb ass tax payer can pick up the bill ]
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
It is part of the ‘Great Deception’
Property that had a book value of over a £100Mn picked up for £1.5Mn. It was never about saving a football club…
Hun foreign debt is around the 4m mark pushing 5million when interest is taken into account. The SPL will want to cash in on wrong doings and will rip right into any Charles Green share issue pot. They will be looking for compensation.
So I suggest that the SPL will fine Rangers 5 million pounds
I reckon that Chuck Green needs to find 10 million pounds before Christmas just to keep afloat.
Make no mistake about it the huns are daft enough to give him it.
The problems is they dont have it.
It’s Christmas time
There’s no need to be afraid
At Christmas time
We collect the fine and we banish aid
And in our world of plenty
We can spread a smile of joy
Throw sevco down the toilet
At Christmas time
Hail Hail
@ wonkyradar
So Chris Graham doesn´t accept a sporting advantage was gained??!! Chris through complete speculation decides Murray would have just borrowed money of the bank, a solid argument which would stand up in court. See that house we burgled, it’s okay your honour, had we not burgled it we would have paid for all we stole, so it’s all okay.
Just dropped in to say…..
I’m totally and utterly sick reading about – Rankers/The Rankers/Sevco/The huns on here.
Meanwhile….back at CP – the bored get away – yet again, with selling our best midfielder to Swansea, without bringing in a replacement and, keeping all the money.
Still NO CH at the tenth transfer window of asking. WHY ??????
Hooper, Commons, Forrest, 67 ?
The above players give me hope but, the rest are rank. imo
£15mill – CL
£20mill – ST
£6 mill – Ki
£5 mill – Off the wage-bill
All of that and we can’t buy a CH or Johnny Russell ?
Ach feck it !
Why bother – CSC
Stuff the Sevco chat this week. This week’s all about us returning to the Champions League!
Got my ticket and I can’t wait. Been far too long!
Efe Ambrose
Lets say that every single player that had an EBT had a side contract.
Lets presume that the SPL independent panel find that Rangers done so and managed to do so because of the criminal activities of Martin Bain, John McLelland, Alistair Russell, Gordon Smith, George Peat, David Taylor
Then they are going to get a fine from the SPL/SFA (LOL) UEFA will make sure this happens
What I want to know is how much do you think that fine will be
I go for 5 million pounds sterling
HAil Hail
Morning Celts,
looking forward to the Benfica game on wed,any worries on the selection front for wed night?
Purchased Phils book on friday at waterstones in sauchiehall st.not displayed in that shop or Argyle streeet due to its controversial nature.on asking staff they said it was a manangement decision….
I see the cheats are looking at new income streams re suing Annan for Templetons wages….is this a wacky new way of player sponsorship?
Lets hope we pick up form for Wed night.
hail hail
oh goody the attention seeker is back!!!
So every player at Celtic Park bar Hooper, Commons, Forrest, Victor are rank rotten??
Give me strength!
From now on i refuse to acknowledge this eejit!!
HH
IF you know the history, you’ll know that Celtic Football Club is celebrating its 125th anniversary.
And to mark the occasion, Celtic and Nike are releasing a very special commemorative kit.
Full details on what the kit looks like will be released soon.
Defendant
I know I shot the guy in the head 20 times your honour but he was going to die anyway, I mean everybody dies, its just a matter of when.
Judge
You know what? You’re right there, I never thought of it like that, case dismissed!
ibleedgreenandwhite1
11:44 on 18 September, 2012
oh goody the attention seeker is back!!!
So every player at Celtic Park bar Hooper, Commons, Forrest, Victor are rank rotten??
Give me strength!
From now on i refuse to acknowledge this eejit!!
_______________________________________
Aye, ye say that aw the time don’t ye ?
Oldco-malignant curse.
Newco-malignant curse.
Same old poison.
KEV
Pretty sure we’ve signed a fair few centre halves in the last five years,bud.
In fact,had we not done so,we would have to play with nine men,since only Scott Brown remains from 2007.
And he’s not a centre half.
Maybe Murdo can fill in?
ASonOfDan
11:45 on 18 September, 2012
IF you know the history, you’ll know that Celtic Football Club is celebrating its 125th anniversary.
And to mark the occasion, Celtic and Nike are releasing a very special commemorative kit.
Full details on what the kit looks like will be released soon.
______________________________________________________________
When these strips-jerseys are released
EVERY seat that belongs to a SB holder should have one attached to the seat – FREE of charge !!! imo.
No more fleecing the fans and then making out that theres no money.
No more Robin hoods in reveres CFC.
Rangers Tax-Case @rangerstaxcase
If the entity selling shares to ex-RFC fans was to become insolvent, would these shares be in “the club” or “the company” this time?
NURSE!!!!!!!!!!!!!!!!!!!!!!!!
It seems the Company and the Club will be indistinguishable again then, for the purposes of the share issue at least!
HH
So…..is this too difficult for me to understand? Rankers self destructs….it is no more. Every creditor left high and dry even though the stadium etc.,. is still there,assets unrealised, un-liquidated.
T’rankers emerges, having bought aforementioned assets for a fraction of their true value on the never-never (Green has actually paid out next to nothing so far) : they continue as before with backroom promises of swift return to former inglorious status on the intimidated boards of a greater European stage. The msm continues to aid them in their vainglorious trumpeting.
Now a quick cash-grab is instigated by the carpetbagging cartel headed up by arch-vulture Green.
I understand this all too well : it’s called a scam. Organised crime.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
11:49 on 18 September, 2012
___________________________________________________________
Aye, we’ve bought some CH’s but
the difference is Neil is a goooooood manager
and is NOT getting the money for a CH. Why ?
Rangers Tax-Case @rangerstaxcase
It would be interesting to hear Mr. Green grilled over the legal differences between TRFC plc (IA) shares and Sevco shares being offered.
NURSE!!!!!!!
ibleedgreenandwhite1
11:44 on
18 September, 2012
oh goody the attention seeker is back!!!
So every player at Celtic Park bar Hooper, Commons, Forrest, Victor are rank rotten??
Give me strength!
From now on i refuse to acknowledge this eejit!!
—————————————————————————————
Away you buy a cat ,stroke it and calm doon.
greenjedi
medical or psychiatric?
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
I don’t think Murdo could accept the drop in wages ? :o)))
Anyway
Off oot.
Adios CQN
Hail Hail
voguepunter
11:54 on
18 September, 2012
ibleedgreenandwhite1
11:44 on
18 September, 2012
oh goody the attention seeker is back!!!
So every player at Celtic Park bar Hooper, Commons, Forrest, Victor are rank rotten??
Give me strength!
From now on i refuse to acknowledge this eejit!!
—————————————————————————————
Away you buy a cat ,stroke it and calm doon.
: )
Buying a cat is the easy part,,,calming down on the other hand lol
HH
Has this place changed its name to TRQN? Is Celtic not playing Champions League football tomorrow night? All in all, you’d think Celtic supporters had more interesting things to bang about than effin Rangers all the bloody time! Get a grip, FFS.
Remember the rabid dogs will be rabid dogs
CK
Psych
Analyst sues Cenkos over bonus
Richard Partington
05 Sep 2012
A former research analyst at Cenkos Securities is taking the UK brokerage to court for alleged unpaid bonuses totalling £3m, after he was fired by the firm last year.
Stuart Lunn, a former software research analyst at the firm’s Edinburgh office, filed his claim in the High Court on June 29.
The firm said at the time of that filing: “The board believes that the size of this potential claim is frivolous and that appropriate accruals have already been made for any potential liability due. The company intends to defend any such claim vigorously.”
Cenkos did not reveal Lunn’s name at the time of its statement, but Financial News can reveal the details of the case based on his court filing.
Lunn claims he should have been paid a bonus of £2.6m from a so-called ‘phantom exit bonus’ scheme, as well as £92,769 from a so-called ‘phantom dividend payment’ and other benefits. The bonuses relate to 2010 and half of 2011.
Lunn ultimately received £157,228 from the firm and was let go after he failed to accept an amended bonus offer for 2010, he claims in his court filing. Simon Melling, who had been chief executive of Cenkos at the time, offered to replace the scheme with a share-based payment scheme, comprising 750,000 dividend-bearing options in return for Lunn and three other employees dropping their rights to the phantom exit bonus plan, according to Lunn’s court filing. The Cenkos executive board refused the scheme, viewing it as overly generous, according to Lunn’s filing.
Graeme Kemp, who had been head of Cenkos Scotland, also left after he was cut out of the phantom bonus and phantom dividend scheme, according to Lunn’s court filing. Lunn departed in May and Kemp in January 2011, according to the FSA register.
Melling emailed the firm’s executive committee to say he would be “serving notice on them and putting them in the garden” after they refused to agree to a new scheme, according to Lunn’s court filing. The term refers to the so-called ‘gardening leave’ bankers take between jobs. Lunn claims his bonus package had been agreed in July 2009. Melling wrote to the executive committee in November 2011 to say two other employees had arrived at a deal and that Kemp and Lunn did not agree to the new deal’s terms, according to Lunn’s court filing. No details of the scheme accepted by the other two employees was given in Lunn’s court filing.
Melling resigned from Cenkos in July 2011, citing personal reasons.
Cenkos said in a stock exchange filing that it had re-organised its Edinburgh office in 2010 resulting in the cessation of the phantom bonus scheme and a number of staff leaving the Company. A provision for the re-organisation was established in 2010 to cover any resultant liabilities. It added: “The company remains in dispute with a former member of staff on this issue”.
Lunn, who had been with the UK brokerage since October 2008, had previously worked for Cannaccord Genuity and Seymour Pierce, according to the FSA register. He is represented by law firm Hausfeld & Co in his case against Cenkos.
Lawyers acting for Lunn declined to comment. A spokesman for Cenkos also declined to comment and a spokesman for the firm’s retained law firm, Travers Smith, declined to say whether the firm was working on the Lunn dispute.
— Write to richard.partington@dowjones.com
KEV
With the exception of Bobo and Joos-who unfortunately became prone to injury,we haven’t had a decent centre- half playing for us since,oh,Marc Rieper.
We have,however,SIGNED a few decent centre halves since then.
We saw them disintegrate in the face of thuggery going unpunished by referees. Ragdolled.
Difficult to play to your best in those circumstances.
BTW,I know Mjallby and Mulgrew were signed after Rieper,but they weren’t signed as centre halves.
charles kickham
Can’t wait to hear the FF/RM explanation of how the company and the club are the same thing now but how this was not applicable in June when the club ‘transferred’ over but the shareholders, eh, didn’t!
I wish Charlie all the best anyway;)
HH
Did someone just fart?
My wife and I have been married for over 20 years. In the early years she very much preferred me to be clean shaven, and my amorous advances would often fall on stubble grounds.
It became such a feature of our love life that over the years I came to associate shaving with love making, a sort pavlovian ‘best a man can get’ type scenario.
Anyway, apropos of nothing in particular, here’s me enjoying a stiff espresso in Ankara recently.