Milan’s mistake with their Champions League squad – they inadvertently included Stephan El Shaarawy in their restricted A List of players, instead of the B List, denying a place in either list for M’Baye Niang, is welcome news. Their squad is strong, with or without Niang, but the oversight lends credence to the notion that a malaise has settled over the club. Director, Umberto Gandini apologised, but already the Milanese are focused on what they don’t have in their armory as a result of the oversight – an excuse for failure is ready made.
I met the owner of an IT company shortly before they went into liquidation and asked him who he had on his board. “Are you not on our board too?” was his jocular response. The company had already gone through a couple of difficult years. With each passing period investors became increasingly concerned; they all wanted a place around the boardroom table, convinced that their gilt-edged experience would be able to guide the company through its troubles.
The chief exec had to cope not-so-much with a boardroom full of captains of industry (which they were), as another pressure group to satisfy, along with clients, creditors, staff and the bank (they may have been weeks from liquidation, but they still had borrowing, this was not a Metro Bank deposit account-only operation).
The chief exec understood the industry and, left to his own devices, stood a sporting chance at survival, but when the boardroom table became occupied by a parcel of rogues the game was up.
On a completely separate matter, I am delighted at the prospect of Paul Murray and John McClelland having a second shot at being a non-executive director of a football club. Wikipedia’s definition of the roles of a non-exec is worth a cursory glance to indicate why. They did so well last time. The others, who it is proposed will share a place at Newco’s table, also appear perfect for the role. If only Sir David would come out of retirement and join them.
Will one of the many directors insist that The Rangers Football Club Ltd submits its Annual Return to Companies House? Under its previous name, Sevco Scotland Ltd, The Rangers Football Club Ltd bought liquidation assets from Duff and Phelps, and which, according to Rangers International’ PLC’s interim financial statement in March, was incorporated into the PLC’s group.
The Return is over two months late. Perhaps, with so many directors available for comment, one will be asked by a journalist or shareholder why the company which bought all the assets has not submitted basic information, revealing ownership details. Perhaps not. No hurry, a striking off notice will be weeks away.
[calameo code=000390171c1dd95770bec lang=en page=100 hidelinks=1 width=100% height=500]
705 Comments- Pages:
- «
- 1
- ...
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- ...
- 19
- »
Googy
BT sport will get themselves boycotted by the tens of millions of zombies
Bournesouprecipe – she always looks bored in photos.
Just got tickets for the greatest new comedian.
Greg Dyke
Looks like Cheryl Cole is on the board, not a Sevco one is it?
Bsr
Wheres the fake teeth … hair… etc
starry sorry for the loss of yer ma,the celtic family wraps its arms around you and yours my celtic brother,take care amigo,hh & gb
desertbhoy
weeminger
Robert Tressell.
Robert Tressel has just about summed it up. There are common sense rules in place to protect people from themselves over time, but those with the kind of short sight that only sees the dollar opportunity under their nose cgaf at any level. Having writ the rules the moving finger of UEFA moves on.
What is perhaps Rangers bad luck is that UEFA finally got around to articulating in 2010 a set of rules to protect football from itself and they are now being judged against them because, although the articulation came in 2010, common sense has been around for as long as man has had the time to experience the consequences of ignoring it.
The SFA have ridden rough shod over Articles 50, 66 and 67 of UEFA FFP in granting the 2011 licence simply to keep Rangers going. Karma in Malmo and Maribor strips took care of that. They have twisted player eligibility/ registration dependency out of its original shape with the bizarre Bryson ruling. They have failed to make any statement on the idea of club and holding company since it was invented for commercial reasons after the club called Rangers was liquidated. Now on this the SFA must know that in the recent years that Rangers applied for a UEFA licence, but specifically in 2011 (because it is in UEFA FFP 2010) that Rangers either complied with
Article 43
Article 43 – Declaration in respect of participation in UEFA club competitions
1 The licence applicant must submit a legally valid declaration confirming the following:
a) It recognises as legally binding the statutes, regulations, directives and decisions of FIFA, UEFA, the UEFA member association and, if any, the national league as well as the jurisdiction of the Court of Arbitration for Sport (CAS) in Lausanne as provided in the relevant articles of the UEFA Statutes;
b) At national level it will play in competitions recognised and endorsed by the UEFA member association (e.g. national championship, national cup);
c) At international level it will participate in competitions recognised by UEFA or FIFA (to avoid any doubt, this provision does not relate to friendly matches);
d) It will promptly inform the licensor about any significant change, event or condition of major economic importance;
e) It will abide by and observe the club licensing regulations of the UEFA member association;
f) It will abide by and observe the UEFA Club Licensing and Financial Fair Play Regulations;
g) All submitted documents are complete and correct;
h) It authorises the competent national club licensing administration and national club licensing bodies, the UEFA administration, the Club Financial Control Panel and the UEFA Organs for the Administration of Justice to examine any relevant document and seek information from any relevant public authority or private body in accordance with national law;
i) It acknowledges that UEFA reserves the right to execute compliance audits at national level in accordance with Article 71.
2 The declaration must be executed by an authorised signatory of the licence applicant no more than three months prior to the deadline for its submission to the licensor.
or
Article 45
Article 45 – Written contract with a football company
1 If the licence applicant is a football company as defined in Article 12(1b), it must provide a written contract of assignment with a registered member.
2 The contract must stipulate the following, as a minimum:
a) The football company must comply with the applicable statutes, regulations, directives and decisions of FIFA, UEFA, the UEFA member association and its affiliated league.
b) The football company must not further assign its right to participate in a competition at national or international level.
c) The right of this football company to participate in such a competition ceases to apply if the assigning club’s membership of the association ceases.
d) If the football company is put into bankruptcy or enters liquidation, the right to apply for a licence to enter an international and/or national competition reverts to the registered member. For the sake of clarity, should the licence have already been granted to the football company, then it cannot be transferred from the football company to the registered member; only the
right to apply for a licence the following season reverts to the registered member.
e) The UEFA member association must be reserved the right to approve the name under which the football company participates in the national competitions.
f) The football company must, at the request of the competent national arbitration tribunal or CAS, provide views, information, and documents on matters regarding the football company’s participation in the national and/or international competition.
3 The contract of assignment and any amendment to it must be approved by the UEFA member association and/or its affiliated league.
The former (43) is one a CLUB agree to certain conditions of entry and if Rangers signed such a declaration and SFA approved then neither thought of Rangers as anything but a single entity club.
The latter (45) is where a company do similar.
Thus if the former the CLUB went into liquidation and if the latter then the company did (although UEFA treat both the same) So what Article did Rangers sign up to in 2011? Was it as a club (where a specific template with club written all over it was produced in UEFA FFP 2012)or were they operating as a company and complied with Art 45.
We all know the answer, just as we know the three year exile is because they failed to meet Article 12 of UEFA FFP requiring 3 year smembership of a national association (NOT 3 years accounts)but the SFA have never clarified when asked.
And that, and the 5 way agreement and everything that has happened since (there being no degree of unfitness for running Rangers) has all been designed to keep the money they bring into the Scottish football industry in the Scottish football industry.
I have no problem with that as long as it is recognised that just a a scorpiom must sting so the new Rangers must cheat and the opportunities for them to do so must be reduced to a minimum. Hence my thoughts at
http://celticunderground.net/sfa-reform-one-down-three-to-go/
from June 2011.
It is almost a matter of despair that it has got worse rather than better. I did send that Article to Peter Lawwell at the time, maybe I should send a reminder.
My rant over :)
Starry, sorry to hear about the loss of your Ma.
Having been there, I can only say that the best thoughts of the past help
soften the blow a little bit.
Thoughts and prayers with you and yours.
HH Gerry
I’m a wanted mhan!
Smuggled food into an Italian hospital a couple of hours ago for my father who hadn’t had a proper feed for 36 hours.
When he was questioned by the authorities he pretended to only speak English – with a Greenock accent – having spent 54 years in Scotlandshire.
In answer to the question – “Have you eaten anything?”, he replied: “Who are Celtic playing next?”
Shortly before I left him he said to me – “Bring some chocolate the morra’!”
HH Faither!!
“Handsome” McClelland……………………putting a brave face…. on the bitter in fighting?
Hun-friendly fire……………..
HHH.
Anybody ever seen Arthur Smith and Johann Cruyff in the same room?
John McClelland on the hun board?
Things could turn ugly!
HH!!
Remove the 5 fag burns………….a constant eyesore
Starry
Really sorry to hear about your beloved mother passing away.
Thoughts and prayers with you and yours .
Tallybhoy
When my mum was in the suffering general.. I took her up fish suppers most nights…
Tallybhoy-good stuff,hope he’s back home soon.
regarding the Journalist and the story about the West Ham fan who played for the team…..do you think there is a Scottish Journalist out there looking for the Celtic fan who scored for his heroes without ever playing for then……………or against them….no???
Now that Peter is at the head of the SFA, can he not prohibit the use of all dabitties during Scottish fitba matches.
OK for real tattoos, but there should be no room in professional fitba for dabitties, especially when 5 wee stars are stuck together on a jersey.
Is it any wonder that the SPFL cannae attract a sponsor?
Real tattoos OK, 5 star dabitties not OK.
;o)
Starry…sorry to hear about your mum god bless you and yours
Greendreamz post from earlier,
just my two bobs worth but………
Murray sells OLDCO and all its tangible assets to White for one pound sterling
White then splits OLDCO into a couple of NEWCO’s
NEWCO 1 owns the tangible assets (ie Wave Tower sort of thing)
NEWCO 2 inherits the the “football franchise” (ie sevco sort of thing)
Ticketus secure a fixed charge on the tangible assets of NEWCO 1 and its successors
Whyte controls the NEWCO 1 and successors that owns the bricks and has given a fixed charge on those bricks plus a personal liability.
Essentially Ticketus owns the bricks where any future ORCO FC will play and will get their money with interest one way or another, either from ticket revenue or a real estate development. Any shortfall in monies will be made up personally by WHYTE.
End game………WHYTE to be bankrupted and assets seized with the bricks owned by Ticketus until they have had their pound of flesh……..money which will never be invested in the football franchise.
The SMSM reports are just fodder for the cattle………
They are done, which ever way you slice and dice it.
Its great to be a Tim
makes sense to me
HH
gsu
where’s wee davie?
TBJ Praying for Oscar Knox
When my mum was in the suffering general.. I took her up fish suppers most nights
2008 i was in southampton general
they had a burger king!!!!…
The ole CQN comedians weigh in, on poor bored Tim and his iPhone.
I Luv U All CSC
Cheryl still looking forward to Xmas so she can sit down, again
The Bored CSC
If ol’ “Handsome” is back at the magnificent facade…..
…….shirley the wurld’s most flamboyant impresario
……………. can’t be far behind?
Just started watching England u21 and heard how they beat Scotland 6-0 five times in 15 mins.
No mention of their failure in the European u 21 tournament.
Turning off now.
“Haw Boaby, git that danceflerr swept……………….!”
Murray game on.
Talking to my ole Mhate Stan Petrov up hope street today,says tell the bhoys n ghirls
on CQN he was asking for them and that I was his favourite poster.
Vp.
Did you leave him with any money in his pocket?
Now Ghuys in the past I have criticised Sky and indeed cancelled my entire subscription quoting their preference for the new Scottish Club. They have written to me on a number of occasions offering me a half price deal.
Bhoys they are getting desperate.!! Tonight I got a call offering me six months Free. Not only for the package I had previously but the Full package. It’s already diarised to cancel again in five months but am happy to take their free offer. Come on Andy Murray
VP
Did you tell ole Stan you’ve moved to Chapmans?
BT
It’s me you’re talking to ,not CRC ,who could teach Fagan a thing or three.
Was chappin the cab windae at him,he was like “Who’s this eejit?”
Then I was shouting ” Stan ..Stan ..Stan”….thought to myself ” hope he doesn’t watch
Alan Patridge :O(
VP
With you driving erratically…shouting out Stan… Stan … Stan.. im your greatest fan.
I hope you weren’t heading towards the Kingston Bridge
BSR
You know fine well that the vogue bhoys moved on masse when wee JC took over
Chappies .Myself and a few others(1) decided to stay ……whit’s another word for loyal?
VP
Try telling that to ‘your mate’ Stan and how did he tell you through the taxi window how brilliant you were?
– Between you, and BT’s best mate Harry Hood – well i ask you.
Bsr.
You’ll get me hung for that statement. .
BSR
I got oot the fekn taxi to chase him …..eventually caught the bugger,he’s either
lost a bit of pace or my adrenalin rush was on overdrive.
VP, you mis spelt poser!
my wife asked me today if I ever pee in the shower, i answered yes once but it was an accident, an acciedent she said. I said yes an accident! what do you mean an accident. I said I was having a shit at the time!.