The hours immediately after the First Tier Tribunal reports on Rangers use of Employee Benefits Trusts, which the BBC discovered is due this month, to loan money (!) to staff what happens at Hampden will be most interesting. SFA president, Campbell Ogilvie, as a director, was legally responsible for Rangers when they started using EBTs and benefited from one himself but he has refused to resign and the SFA have declined to put him on gardening leave, pending a public investigation.
Instead, SFA chief executive, Stewart Regan, told press the Association had investigated Ogilvie’s contribution to the matter and found he had no case to answer, despite widespread scepticism that any investigation whatsoever was held into the president’s involvement in the issue.
If, despite protests from former Rangers directors that the club acted properly at all times, the FTT upholds the position of HMRC, that Rangers incorrectly failed to pay £94m tax, Ogilvie will surely walk (away), as the SFA will have to instigate disciplinary proceedings on the club which inherited Rangers membership, for deeds done while the president was in an executive position at Ibrox.
Even our new friend Charles Green would find it unpalatable that a man responsible for the subsequent penalty remains in charge of the body imposing the penalty. We’ve said “Ogilvie will surely walk” before, of course, only to witness ever-higher standards of brass neck, but if he pauses for an hour before resigning, let it be to give those of us on the outside of the game what is needed, a full and independent inquiry into the game, how it is administered and controlled. Before the year is out we are likely to learn that our game was violated for more than a decade by people at the very top. A charlatan was expelled from the game earlier this year while the owner of a new club, without financial track record, is trying to raise millions from fans.
In any other European country, even Italy, the inquiry would already be under way.
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eirecamper:
Thiswill give you the gist of it…
http://thedemiseofrangersinpictures.blogspot.com.au/2012/10/the-life-of-brian.html#!/2012/10/the-life-of-brian.html
Sevco 5088 – 140 days of broken history.
Giruy stupid Huns.
Does anybody have a soundcloud.recording of Tommy’s radio show last night,for some reason Spreaker doesnt work on my mob.
eirecamper:
On Aberdeen blogs they talk about all sorts of topics.
http://boards.footymad.net/forum.php?tno=4&fid=27&sty=2&act=17&mid=2114206616
“His work has been error strewn” – a direct quote from Jabba on Craig Levein this morning.
Pot. Kettle. Black.
Ogilvie is clearly not the only joker with a brass neck.
Glad to see Lustig got a goal in the recovery for Sweden last night though.
Dont like the fact he was in a defense that shipped 4 goals but he was also up against a top winger in Reus (I’m assuming he was right back and Reus started cause of fine performance at weekend, otherwise I’d guess it was Podolski who is also a top forward).
Hopefully he has learned from this game.
If it is true that Craigie bhoy is about to hit the headlines again, you have to wonder about the motives, and more tellingly perhaps, the timing. Just as the prospectus’ are being despatched for the share issue, our hero will come in with all guns blazing. Why?
Has a secret arrangement been reneged upon by the yorkshire terrier and his cohorts? Have they blown Craigie out on a previously agreed upon arrangement?
All very interesting.
I expect after the first shots are fired the threadbears will need some reassurance from the likes of John Brown who will no doubt be making another well delivered speech to the throngs soon. I’m still reeling from his previously well articulated comments re season ticket money.
“When you buy a season ticket the money goes towards the players’ wages and the rent and stuff. That’s where your money goes”.
Well I never! (I did note that he never mentioned the taxman, but that may have been an oversight).
Yep, seems hurricane White is about to hit at a most inopportune moment for sevco.
I used to tire of sequels. Rocky 27 wasn’t a patch on the original, and Gareth Gates’ rendition of unchained melody just didn’t cut mustard in comparison to the Righteous brothers, but I have to admit the soon to be released “Whytey 2” has got me on the edge of my seat in anticipation.
Just when I thought I could never face popcorn again…………
Rangers share issue on course for target
Richard Wilson
Sports writer
THE Rangers share issue is on course to reach Charles Green’s target of raising £20 million.
The initial public offering (IPO) was launched last week, and already interest in shares has been substantial.
The Herald understands that more than 7500 investors have registered with indicative pledges that would raise £15m.
The IPO prospectus has still to be released, and no investor will commit before seeing full details of the assets and financial health of the club, but sources at Ibrox are delighted with the response.
Supporters have been registering in their thousands for a prospectus. Only current and former season ticket holders, as well as former shareholders, are eligible to buy shares, with the minimum price set at £500.
Mr Green said all the money raised would stay with the club. The chief executive explained the early launch of the IPO by saying it would be cheaper to buy in now, though he had to issue an apology to Aston Villa for disparaging remarks and miscalculating their turnover.
#######
http://www.heraldscotland.com/news/home-news/rangers-share-issue-on-course-for-target.19166804
I think it’s worth keeping a copy of that article.
‘The Herald understands’
Don’t we all. Don’t we all.
andrew67 and celtic_class:
I am going to the meeting tomorrow night with Neil. Hopefully put names to faces. lennybhoycfc@gmail.com
Keep the Faith!
Hail Hail!
Earnie Lynch…….
Richard Wilson is the one reason I cancelled my subscription to the Herald !
Interesting to see the reaction of the MSM to Craig Levein’s bad results to those of sally.
CL is savaged by all and sundry including select soundbites from the TA demanding resignation, sacking etc.
Different tact for sally. “Players fault, victim of circumstances, needs time etc.
The viciousness shown towards CL would never be allowed against sally.
Now Neil Lennon on the other hand…….
Top of the morning to you all from a grey clouded and breezy Fife.
Could our hero be about to make a comeback? Hope so.
Richard Wilson understands. Oxymoron.
Pledging isn’t the same as paying and even if £15m was raised, which it won’t be, it would only be siphoned off by the shysters.
The Richard Wilson article is a perfect example of a media house release being printed almost verbatim by a “serious” journo.
Lazy, lazy journalism.
With all the focus for now on Levein and his future it is vital that we do not let our vigilance drop and keep an eye on the shenanigans concerning sevco.
Gretnabhoy 09:09 on 17 October, 2012
“Richard Wilson is the one reason I cancelled my subscription to the Herald!”
Surely some mistake. Odious Creep and Odious Creep alone is responsible for the plummeting sales at the Herald.
The unemployed Leglass Loon says so. Get with the program…
Nice to see Gordon Smith get some respite from hi caring duties to comment on the Scotland situation.
You could be forgiven for forgetting that he was involved with the SFA at the highest level and with the appointment of the current Scotland manager he thinks should go.
Where’s your loyalty Smith?
Looking forward to proper football again on Saturday. Any more injuries picked up?
Regardless of what any prospectus says perhaps the opportunity to invest in a business that is not only not allowed to fail by the industry it operates in, but is positively encouraged by that industry to get back to its previous status and access to previous income flows by ALL means possible, fair and unfair, makes it an attractive proposition?
A reason to do all we can to ensure the SFA are policed properly and they in turn police both The Rangers and the SPL properly.
Lads i keep getting an error plug in error but if you download speaker from App Store and you goto Tommy’s twitter page and click on the live link and let it run with that plug in error for about a min you then click ok and you can listen there but if you don’t want to listen to the whole show you click on download and go into speaker app and its in there to listen and fast forward to the juicy bits.
How many of those 7500 potential investors are Tims at the wind up?
I’m guessing about 4000 at least!
Lads I’ve just posted it on twitter if you search for me.
Has Levein resigned yet? Has Ogilvie resigned yet?
Anyone else one the list?
Richard Wilson was ousted as a Sevco fan by Cosgrove and he didn´t deny it when he was on Off the Ball recently. His latest regurgitated PR exercise is of no surprise.
Heard recently from an employee of the Herald, who has nothing to do with the sports department, the whole paper has been on decline from some time now. No real journalism anymore, most of the “news” comes from external news agencies (as well as PR companies), it is more of just a compiling exercise.
Scott Brown
I remember wanting us to sign him as far back as 2003, when our Seville team took shots each at blootering him at every opportunity at Celtic Park.
Every time he got up and came back for more.
I recall comparing him favourably to Gattuso, who had suffered the same fate, but only made it to half time.
Now I’m not saying that being able to take a bleaching makes you Celtic class, but having the cojones to withstand said bleaching as a wee b(h)oy was, I thought commendable. I wanted him signed then.
All these years later I believe my initial impressions of Scott Brown as a Celtic man have been vindicated.
Sure he has had some rough times and made plenty of mistakes, but he is all the better for them, and to my eye, has turned out to be an excellent Celtic player, captain and leader.
I bet he fancies he can take Messi.
Light breeze, 29c, clear skies, fuzzy head, too much Retsina watching Georgios’ boys gub Slovakia with the Dedocanese devotees last night.
EC67
Early contender for tweet of the day;
Ciarán Ó Raghallaigh @Ciaran_O
Romney a big fan of all the fossil fuels. Ironically, most of his voters don’t believe in fossils.
Richard wilson, churnalism at its worsr
Our hero Craigy White is the smoking gun!
How can supporters of oldco/newco/Sevco be so stupid?
Actually beginning to feel slightly sorry for them and their stupidity !
Actually, Paul 67 , delete that last comment I think I’m going mad !
Lickingmylipsinanticipationoftheorcsimpendingdoomcsc
As Richard Wilson himself says “I don’t believe it”
Could Hearts be trading while insolvent?
I know most of the debt is owed to Romanov but is the debt worth more than the assets at this time?
What other debts are they failing to meet regularly at this time??
Morning CQNer’s
Eurochamps67
09:47 on 17 October, 2012
________________________________________________
Re: Scott Brown
Anything is possible when Neil clicks into Geppetto-mode !!! imo.
Or – as Peter Pan would have said – “…anythings possible if, you wish hard enough !”
Dreams and Songs to Sing – CSC
Hail Hail
Richard Wilson should change his name by deed poll to Richard Wilson Hahaha…
Whit a joker, at their height with all their “assistance” they raised 1mil now that they are fourth in the fourth tier they’re gonny raise 20 mil aye okay Aesop!!
Orcs deserve all they get and as far as I am concerned the complete end of their club wouldn’t be enough for me!!!
Bring on the Buddies…
The Sevco Brain Trust in overdrive – getting shredded on RTC and embarrassing themselves on Alex Thomson’s twitter feed.
Their stupidity knows no bounds. Great entertainment though.
Burghbhoy
Their willfull blindness never cease to amaze me. I know a Rangers fan here, who didn’t know who Ticketus were until I informed them recently.
To paraphase Nigel Tufnel:
“It’s like, how much more thick could they be? And the answer is none. None more thick.”
…well until the Thicketus give their share money to Ticketus!
:-)
HH
Just recieved the article from Paul re his estimations of the money Celtic and the rest lost out on over the ebt period,the max for Celtic is estimated at 46.7 for group stage entry-
At a maximum does this not sound a bit low for 5 group cl group stage campaigns?
And also Im not sure if this takes into account progression to the last 16 and parachuting into the old uefa?
46.7? A maximum for 5 campaigns?
Not doubting Paul as I obvipusly dont know the figures originally involved.
The SPL deadline for clubs to provide information on improper registration of players was six weeks ago today but the league has yet to report findings to clubs, while the chief executive rallies support to allow a Newco access to the league.
Time has expired on this policy of non-disclosure until it’s too late.
If the SPL chief executive ever tells us that Rangers fielded improperly registered players between 2000 and 2012, resulting in years of 3-0 defeats being awarded, there will be an enormous amount of anger, not only among supporters, but in boardrooms across the country, as they ponder money which was rightfully theirs but which went to Rangers – perhaps including Rangers prize money for finishing second this season.
We have made an attempt to quantify this money. Some of the losses were easier to calculate than others. For example, it was easy to calculate that when Rangers won the title in 2009 with improperly registered players, earning automatic qualification to the Champions League group stage, they denied Celtic £15m European earnings, plus £340k SPL prize money. Other losses are less clear, specifically when a club was denied a place in a qualifying round for the Champions League or Uefa Cup, which they may or may not have progressed from.
We have established three figures for each club in the SPL during the season just finished, to cover the period from 2000 to 2012:
Minimum loss:
The absolute minimum each club was denied from European and SPL prize money as a result of Rangers finishing above them with ineligible players.
Weighted loss:
The figure based on Scottish clubs gaining entry to Champions League/Europa League (Uefa Cup) group stages from 20% of their qualifying campaigns (which is slightly less than trend).
Maximum loss:
The maximum a club could have achieved if it qualified for the European group stage it was denied entry to.
Out estimates take no account of the subsequent effect money has on future years. For example, If Celtic earned an additional £15m from entering the Champions League group stage in 2009-10 their league challenge for that season would have been £15m stronger, and Rangers £15m weaker, potentially resulting in consequences in future years.
This multiplier effect would have benefited Celtic but it would be likely to have a greater effect on other clubs, some of whom would be denied the enormous percentage increase in budget automatic qualification to European group stages would have brought.
Hearts finished immediately behind Celtic and Rangers more often than any other club over the period and suffer the greatest potential losses, even more so than Celtic. Hibernian, Aberdeen, Dundee United and Motherwell also suffered significant losses.
Several clubs got nowhere near European football over the period, and some of the 11 spent only a few years in the SPL but each club lost over £1m.
Figures for each club are:
Hearts
Maximum: £72.3m
Weighted: £16.3m
Minimum: £6.2m
Celtic
Maximum: £46.7m
Weighted: £21.9m
Minimum: £17.4m
Hibernian
Maximum: £34.8m
Weighted: £8.4m
Minimum: £3.6m
Aberdeen
Maximum: £21.1m
Weighted: £5.5m
Minimum: £2.7m
Dundee United
Maximum: £20.8m
Weighted: £5.2m
Minimum: £2.4m
Motherwell
Maximum: £16.7m
Weighted: £4.4m
Minimum: £2.1m
Kilmarnock
Maximum: £5.1m
Weighted: £1.9m
Minimum: £1.3m
Dunfermline
Maximum: £3.4m
Weighted: £1.8m
Minimum: £1.5m
Inverness
Maximum: £1.3m
Weighted: £1.3m
Minimum: £1.3m
St Johnstone
Maximum: £1.1m
Weighted: £1.1m
Minimum: £1.1m
St Mirren
Maximum: £1.1m
Weighted: £1.1m
Minimum: £1.1m
In the event Rangers fielded ineligible players during the period under consideration, which everyone apart from Neil Doncaster knows, and even he will be unable to deny next week, we know the following:
Rangers received a minimum of £40.9m which should have gone to the 11 other clubs, assuming each club lost all their European group stage qualifying campaigns. This calculation does not include earnings from clubs now in the Scottish Football League, such as Hamilton Accies or Dundee.
If Scottish clubs progressed to the group stages of European competition on only 20% of their qualifying campaigns the loss would be £69.0m.
The figure for total potential losses if clubs successfully progressed to every European group stage is, as the figure for 100% failure, more illustrative than likely, but the maximum cost to the 11 SPL clubs is £224.6m.
Results will be changed, trophies can and will, be re-awarded, but these are the harsh financial consequences clubs, their lawyers and supporters, will consider when the facts are presented to them next week. The SPL executive has had six weeks to consider if there is sufficient evidence to commence disciplinary proceedings; they have failed to do so. They have failed you and every other football supporter in the land, while shamelessly pursuing an accommodation for the errant club BEFORE REVEALING THE FACTS TO YOU.
Time will be up soon, Mr Doncaster. You’ve had your chance but you have convinced no one. The people who really matter in this entire debacle are those who buy tickets for Celtic Park, Pittodrie, Easter Road, Tynecastle, Tannadice, Fir Park and the rest, they will hear the truth and read these figures. You have failed them.
You can read our calculations here
. European income figures were sources from Uefa data
.
Celtic’s disadvantage deepened when their winger John Doyle was sent off ten minutes into the second half for kicking the scorer, but there was an equaliser from Aitken, who was especially suited to a night of such fervour and force. Never bashful, Aitken was stimulated by the challenge of being in an outnumbered line-up.
From Celtic: A Biography in Nine Lives, by Kevin McCarra.
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Great finals and the rebirth of Scottish football
»1111 thoughts on “The tens of millions Rangers denied SPL clubs laid bare”
if craig white is going to spill the beens soon is this to stop him being asked hard questions when he has to appear in court for the follow on from the roofing case as he will be bound by law to tell the truth in court or share a cell with big momma
Barroch obampot
Never really understood how the German people were duped by hitler…..the bigger the lie etc etc
Given the Sevconian supporters record I do now!!!!!!!
Just listening to a wee tune on the radio there.
In the theme from the GB’s 1980’s type of tunes
would so love it if the GB could bring their own version
thingy. Sorry canny do the link-thingy
The Thompson Twins – You Take Me Up !!! = Superb !!! imo
MWD, 7:32:
Cheers bud, will have a read at lunch break…