I was out of mobile phone range for most of yesterday and returned to read more histrionics. On Tuesday I wrote: “Whatever ‘good news’ Duff and Phelps come out with later”, knowing full well (you all knew too) that news of Bill Miller’s departure would soon be countered by a fantastic (literally) piece of optimism from Rangers administrators. They didn’t disappoint.
Today’s Guardian tells us that one bidder has “proved to Duff and Phelps they have a means of securing current owner Craig Whyte’s shares.”
Administrator, David Whitehouse, explains: “One of the bids is for a stand-alone CVA and there are a number of hurdles which need to be overcome. Our view is that it is challenging, but it is not impossible. The purchaser who is talking to us about a stand-alone CVA has demonstrated to us that they have got a mechanism where Craig Whyte’s shares are not an issue.”
Ah, the illusive mechanism! So Craig Whyte is irrelevant again.
We are three months into the process, Craig Whyte is no more irrelevant today than he was on 14 February, he remains the Only Show in Town. Once he stops being the main event, HMRC take top billing. After them, the players will have their 15 minutes of ‘action’. Then you will hear more of the story. If there is anything left after all this, the SPL and SFA will have their say.
Prior to appointing Bill Miller preferred bidder Duff and Phelps explained why a stand-along CVA was no longer possible. No amount of creative thinking will change this fact. The season ends on Sunday, Rangers last chance to pull a deal together passed on Monday, when Duff and Phelps were unable to present a proposal to the SPL.
Even IF a phoenix is assembled for next season, or the season after that, it will be a humbled shell of what was once Rangers.
Rangers Football Club is disintegrating and will do so at an increasing rate in the weeks ahead. Again, cease and desist with the adolescent hysteria. Chill. Go for a walk in the rain and spare a thought for those football fans with genuine worries.
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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Laird of the Smiles aka PMTYH
re Slovak league…
accord to soccerway, they play remain games on 12th, 16th and 20th of may
currently…
http://www.soccerway.com/national/slovakia/super-liga/2011-2012/regular-season/
and more info here…
http://en.wikipedia.org/wiki/Slovak_Super_Liga
twists
From I think page 12:
http://soundcloud.com/jinkylarsson/paul-from-cqn-on-rs
TerryONeill Neil ah love yae on 10 May, 2012 at 20:13 said:
Paul 67 (last sentence)
I was sorry they never got back to you. DK was using the same point you were about not being able to judge without the facts to argue against your point that the SPL should not vote before the facts were known.
Regardless, it further highlights Paul’s ending point on BBC that there should be no rush to vote until all facts are clarfied.
The SPL need 2/3rds to turn up for a quorum at General Meetings or business is delayed a week.
Not sure if same applies to the 30th May meeting but have asked PMcConville on RTC to check, If so what 5 clubs chairmen do we need to persuade not to turn up?
Paul 67
“It now requires 8 from 12, Doncaster doesn’t get a vote. Now harder to pass. ”
Thanks for the insight but I’m struggling to think of 4 other clubs who will vote no alongside us.
Do you think we will be under pressure to move away from 11:1 votes on our commercial deals or could we see money seeping from our fans pockets to the treasury of other clubs?
setting free the bears on 10 May, 2012 at 20:16
Thanks..
Wid liked tae have come back on darells assertion that rangers defence may have been that the payments were loans.
That it was a loan makes no difference in the spl enquiry,any and all payments have to be recorded in the contract lodged with the sfa and spl.
Didnt get that opportunity,tae challenge that they fade you down so you cant interrupt(well they dae that wae me)
As Craig Whyte offers to sell his shares for £1
D&P are said to be frantically trying to raise the cash to meet this latest demand
75 deadlines have been set for this to be concluded
Prestonpans/Bloke
TYVM guys….very kind.
Zybszek
That`s a shame. the eltic fans will be very disappointed.
JJ
Can someone nip over to FF and tell them money from their Fighting Fund (sic) ,is being used to pay us for the pleasure of Celtic pumping them 3-0,a couple of weeks back.Thanks in advance.PS Tell them another 50k for damage to the toilets etc.
so the London consortium buys CW’s shares and become the new owners, thus letting jim white wet his pants. they spend £12M on running costs, and ask the manager for his opinion on the playing staff who should be required for a league campaign. Then the FTT drops it’s verdict, either you are now liable for £70m or you’re not. If you’re not HMRC appeal, if you are…Then the inquiry into dual contracts drops it’s verdict, either you are now liable for at least a decade of domestic and European misconduct or you’re not. If you’re not you appeal and face full disclosure, if you are….then you are obliterated from the face of the earth and are remembered only in the way that Barings, Madoff et al are recalled.
The London consortium, either way, do walking away.
Terry O..,
I noticed the fading, thought you were being dragged away from the phone :o)
Auldheid 20.26 ah wis saying that very thing while darell wis talkin but ad been faded down.
If ah cant judge then how can the spl chairman judge without the full facts.
twists n turns
page 12 @ 19.19 top corner
Listened to Paul67 on the BBC. Well done! Someone told me that the chinese word for “crisis” is the same as “opportunity” (don’t know if this is true!). However if Rangers don’t exist in the SPL and a club in financial good health (Lets say Hibs!) saw an opportunity to go for at least second place, would that not be a realistic and very profitable possibility?
Paul67 or indeed anyone who knows
How did the SPL end up with Donkey Doncaster?
Strikes me he’s another wiggy type who couldn’t possibly have met the requirements of any vacancy notice for the job.
Neil canamalar Lennon hunskelper extrordinaire on 10 May, 2012 at 20:30
Missus wis in the bath so ah wis ok.
Paul forget to say,your display on BBC Sportsound,might have you being asked back? then again maybe no,Chico and Jabba could not Handle it.
H H
bro just text – hes at the thai tims concert in glasgow tonight and sitting next to lenny, ledley, mulgrew, matthews and commons
and im watching the brits have talent!!!
dannysbeard on 10 May, 2012 at 20:14 said:
>>>
Slainge ! HH!
Terry O..,
were you showing her up :oD))))
good mhan, keep telling it like it is, especially during big baff night :O)
this makes me think of ranjurz debt:
Guy goes for a job interview in a warehouse:
Manager: Can you make tea?
Guy: yes
Manager: Can you drive a forklift?
guy: Jesus! how big’s the effin teapot?!
alex thomson @alextomo
New TOMOBLOG Ibrox confuzzlement Pt 93 http://blogs.channel4.com/alex-thomsons-view/whyte-slashes-price-rangers-shares/1445
Keep the Faith!
Hail Hail!
mighty
thank you
Paul, disgusted with that BBC chat you had, disgusted. Wasted 30 minutes of my life (listened to it twice). Not one mention of the price of milk, wanted to compare the prices of Glasgow milk to Belfast milk!
Keep up the good work :-)
SFFS
Can anyone send me a link to Paul67 on BBC…….TA
Paul67 on 10 May, 2012 at 20:20 said:
SFTB, the vote for admission of a Newco was with the SPL board not the general meeting. It required a majority from Celtic, Motherwell, Dundee United, St Johnstone and Neil Doncaster. The chair votes if there is a tie.
It now requires 8 from 12, Doncaster doesn’t get a vote. Now harder to pass.
========================
Does it need a quorum and can we “persuade” 5 clubs or their supporters to tell their Chairman not to turn up?
Doncaster has been at it from the off.
From omnishambles to ubershambles
lennybhoy`s link:
“From the horse’s mouth – so to speak. The man whose name is sung around Parkhead by the green faithful has duly reduced the price of his share buy-out by the small matter of £29,999,999.
Craig Whyte, the man who bought Rangers from Sir David Murray for a pound when the club was in a deep mess will now – in theory – sell it on for a pound now it’s in a much deeper mess.
Theory, because the whole thing depends upon a Company Voluntary Arrangement being set up and agreed with shareholders.
Duff and Phelps – the Rangers administrators, went well out of their way last week to say this will take 6-8 weeks, meaning Rangers could still be in administration even at the beginning of next season and incur more penalty point deductions. Scottish rules are tougher than the English ones in this respect.
D&P made it pretty plain that a CVA at Rangers was pretty much a non-starter.
So the clock ticks.
Creditors have to get a CVA document by the end of next week realistically. Creditors then need around 3 weeks to vote and consider the deal. Then they have a 28 day cooling off period. The clock is indeed ticking.
Mr Whyte’s only real hope therefore is that this process – whilst still adhered to in theory – will in practice be somewhat short-circuited by cash onjections early on and nods of good faith at every turn. Well, perhaps. Craig Whyte keeps telling me he’s desperate to get the club out of admin by the before the beginning of the new season.
And then that leaves the floating charge Mr Whyte has over Rangers – effectively another large separate financial stake in the club and I can reveal this is still to be negotiated away somehow. This is where the tough-talk has still very much to be done.
So: floating charge subject to talks and shares still to be nailed down subject to that CVA. Is this a done deal?
No. Hence all the secrecy and everyone saying the name of the buyers will leak but nobody yet leaks of course.
All will soon be clear but a real deal? It is not in the bag.
The other big issue is UEFA. I am urgently seeking clarity over this yet again but last week UEFA’s Head of Communications went away to their compliance department and explicitly checked – again – that UEFA are now minded to look at CVAs just like a new company (Newco) ie it’s a 3 year ban from European football.
Speaking to Craig Whyte his understanding is very different and this could hardly be more vital – buying into a CVA at Ibrox would surely be a non-starter with that 3 year ban in place?
Well – UEFA wouldn’t be the first party totally confuzzled by this 38 act tragi-comedy. They’ll not be the last either. Let us see though, whether they or Craig Whyte are correct on this.
From omnishambles to ubershambles? Rule nothing in or out just yet”…
Follow @alextomo on Twitter.
All the best sound clips here
http://soundcloud.com/jinkylarsson/
I don’t know who you are, jinkylarsson, but you do a grand job.
Terry…
http://soundcloud.com/jinkylarsson/terry-4-2-on-clyde
twists n turns on 10 May, 2012 at 20:20 said:
Your village must have been the exception.
They have not changed in my lifetime.
My earliest memory of “them” was getting spat on as a 10 year old in Duke st. for wearing a Celtic scarf.
A poster (St Stivs ?) referenced their roll of honour recently: Wolverhampton, Manchester(old style), Newcastle, Barcelona (old style), Hampden 1969, Parma, Pamplona, Middlesborough, Villareal, Bucharest, Barcelona new style.
But all were just training for their exploits in Manchester 2008.
They do learn though: When they invaded the pitch and assaulted the Dynamo players in 1972 and earned their heroes a much needed breather. They repeated the intimidatory pitch invasion tactic at Motherwell in 1976. Both matches on restarting allowed Rangers to win.
Often think they just got their timing a wee bit wrong in the 1981 Cup final.
Petrie has run a very tight ship at Hibs,new stand,training ground.Thompson at DU ?He’s had a few issues with the huns recently,maybe he knows now they would have shafted him over Goodwillie.Not sure who might (if any) vote against the huns.
From Tommo blog……….interesting
———————————————————————–
‘The other big issue is UEFA. I am urgently seeking clarity over this yet again but last week UEFA’s Head of Communications went away to their compliance department and explicitly checked – again – that UEFA are now minded to look at CVAs just like a new company (Newco) ie it’s a 3 year ban from European football.’
————————————————————————-
Any truth in this?
http://goallegacy.forumotion.com/t12973-steve-kean-is-owner-of-blackburn-consirtium-is-using-venky-s-as-a-front
I only ask as it so far out there
HH
Lennybhoy…Supporting Neil Lennon and CFC until I die on 10 May, 2012 at 20:36
Having read that I doubt the SPL will be any position to vote on 30th May. Good – gives more time for FTT to declare and twin contracts to be revealed.
Paul 67,
Well done – it might be the bleeding obvious to most sane beings to accumulate all salient facts before coming to conclusion – but sadly it seems like some kind of revelation to the MSM.
Still, ss someone said earlier, “none so blind as those who will not see.”
A question for you that you can choose to ignore if you wish – are you or have you been in contact with Alex Thomson from C4 ?
2000 year old computer
BBC 4 9.00
on sunday we will be celebrating winning the title. we will be presented with the spl trophy for winning a league that we deserved to win by winning games with a perfectly legal football team.
there is no tainted title for 2011-2012 season.
we will also on sunday play host to a group of young children who have lit up our lives by their enthusiasm for celtic fc,and who are to provide us with some half time entertainment.
many of us [not me unfortunately] will have the pleasure of seeing them “in concert” tonight, the rest of us need to wait.
for all their efforts and as a thank you to them , their helpers, teachers, hosts, fundraisers, the gormleys in fact anyone associated in any way with the thai tims/goodchild foundation we should sort out some sort of tribute from the fans.
a simple suggestion.
while they are singing why dont we all do a huddle with a difference. we face the pitch and stand in silence no jumping about no celebrating, just pure unity and listen to them, even if its only for one song and then join in with them for any others.
god bless every one of them