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Newco, the Record and the police

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It’s not often CQN quotes the Daily Record, so hold onto your bonnets……….

Most of us have been watching the old media/new media for years.  Actual news is now well and truly in the domain of the new media but when it comes to some matters, the authority of the old media seems to be greater than the new.

Think back to those scenes at Inverness last year when Jelly ‘n’ Ice Cream was given its first outing.  That reaction came after the Daily Record put their weight behind the notion that many of us had been saying for weeks/months/years, that Rangers were going out of business.  It wasn’t actual news, everyone had heard the same stories many times, but when the Record went on-record, the remaining doubters were convinced.

Viewed through this prism, when today’s Record raises the spectre of police and liquidator action, even the most sceptical must know things are serious.  This morning they urge Newco’s chairman Malcolm Murray to:

“Tell the stock market his board understands the explosive nature of Whyte’s claims and that they are on top of their duties.  He should order his own investigation, hire independent accountants and lawyers to examine all evidence, while co-operating in full with the police and with liquidators BDO.

“That’s the kind of decisive action Murray should be taking this morning and I suspect it’s precisely what he wants to do.  But if he does not emerge at some point today or tomorrow then it means he is being undermined by his fellow directors who have baulked when implored by him to do the right thing.

“His allies – if any – should go with him because if they share his concerns but fail to act upon them they too risk massive reputational damage.  Maybe even worse than that if the police become involved. That’s how serious the situation has become”.

The allegations made by Craig Whyte last week are more serious than any charge previously levelled at a football club board in Scotland, infinitely more serious than what has been alleged about Craig Whyte, Sir David Murray or Campbell Ogilvie.  They have, of course, come from a man who has been shown to be liberal with his use of facts, but they have been made about Green, who has admitted he tells people what they want to hear in order to get his way.

The Record have also realised the consequences of Green and Whyte colluding during the administration process:

“Green was eventually allowed to pick up the club’s assets for the paltry figure of £5.5m. A deal agreed with Duff and Phelps which excluded rival bids from any other party.

This was as unfathomable agreement that may have cost creditors millions – and which was triggered the second Green’s group stumped up enough money to secure preferred bidder status.

Now it has been further claimed that in order to help scramble that deposit together, Whyte dumped £137,500 into an account belonging to Ahmad’s mother.

Again, this will be of great interest to the authorities because, essentially, this was the very moment Green and his backers were given a clean run at picking up a £50m business for a pittance.”

Newco’s independent non-executive directors, including the chairman, are in a difficult position.  If they were not previously aware of the collusion between Green and Whyte they may be of a mind to resign, but as non-execs, it was their job to look after the interests of stakeholders before the smelly stuff lands, which they have clearly failed to do.

Scottish football has had a troublesome couple of years as it prepared for and dealt with the consequences of the liquidation of Rangers.  Unless Whyte’s claims can be proven to be without foundation, and unless BDO take a kind view of Charles Green’s agreement with Craig Whyte, the months ahead will at least provide some finality.  Stewart Gilmour at St Mirren will have a great deal to think about ahead of his board meeting on Wednesday.

Just think, without so many people backing Charles Green the ‘Rangers’ brand could be in the hands of Brian Kennedy right now! If you see someone preaching the gospel according to Charles Green, don’t try to undermine their faith.


Photo by Vagelis at Biglens

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  1. Celtic Trust ‏@TheCelticTrust 50s

     

    Up to 950 emails – fantastic #keepupthepressure

  2. Can any club, St Mirren or even Annan Athletic, afford to take Green, his plans or offers seriously?

     

    It sounds a bit like last Sunday’s “Do you reject Satan?”

  3. The St Mirren tie thing, what’s that all about?

     

     

    Is it ambush marketing?

     

     

    Is it a diversionary tactic?

     

     

    Is Green maybe just consumed by narcissism?

     

     

    And does anyone know if Jim McColl is still attending Ipox?

  4. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    PAUL67

     

     

    Sorry,mate-I’ve been telling my Hun mates from Day One that they would be better with me in charge than Green.

     

     

    They might get a tad suspicious were I to suddenly come out in his favour now.

     

     

    Having said that,it has been established that they are universally thick,so I’m willing to give it a go. ….

     

     

    PHILVISRETURNS

     

     

    Well done,bud. Back in yer rightful place,top of the pile….

  5. The reconstruction ‘ideas’ are such utter rubbish I don’t know why ANYONE is giving them credence.

     

    It’s all part of this obfuscatory game to salvage the west coast brogue and bigotry bizness.

     

    And..

     

    …Campbell (on the easy money) Ogilvie is still there……like Grima Wormtongue, dragging the game through yet more moribund semi-paralysed depression.

     

    >>>>>

     

    now to actually read the actual article!

     

    : > )

  6. ‘You Are Secvo’

     

     

    Going to be a LONG time before I tire of that one.

     

     

    Stupid zombies…

  7. myboysnowatim on

    “Having said that,it has been established that they are universally thick,so I’m willing to give it a go. ….”

     

     

    Ha – that was funny.

  8. Another doozy (sp) of an article Paul.

     

    I wonder if Jabba sent Jangle a wee text this morning!

  9. Scotland - rotten to the core on

    “If you see someone preaching the gospel according to Charles Green, don’t try to undermine their faith.”

     

     

    Absolutely – what a laughing stock they have become. Mind you their fans will still be focusing on the “unseen Fenian hand” lol

  10. Ernie,

     

    Don’t know why the tie,

     

    but you got to admit someone has tied a nice knot for chuckles.

     

     

    BSR

     

     

    You still barking at the dog sitting?

     

     

    EC67

  11. philvisreturns on

    BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS – Now I know how Lionel Ritchie must feel when he’s dancing on the ceiling. (thumbsup)

     

     

    Eurochamps67 – Never trust a man with a Windsor knot, it’s the mark of a cad. (thumbsup)

  12. Paul 67.

     

     

    It is looking more than likely the proverbial s*** will hit the fan sooner than once thought.

     

    I would still like to see murray to be answerable for his part in corruption of scottish football.

  13. SonsOfErin

     

    12:02 on

     

    8 April, 2013

     

    swatson – There’s a precedent in Italy when one particular division was expanded from 20 to 24 teams and Fiorentina were promoted 2 divisions on “sporting merit”. I don’t think the Italian FA were interested in providing any further explanation than that and UEFA didn’t ask.

     

     

    ……………………………………………………………………………………………………………………….

     

     

    The year 2001 heralded major changes for Fiorentina, as the terrible state of the club’s finances was revealed: they were unable to pay wages and had debts of around USD 50 million. The club’s owner, Vittorio Cecchi Gori, was able to raise some more money, but even this soon proved to be insufficient resources to sustain the club. Fiorentina were relegated at the end of the 2001–02 season and went into judicially controlled administration in June 2002. This form of bankruptcy (sports companies cannot exactly fail in this way in Italy, but they can suffer a similar procedure) meant that the club was refused a place in Serie B for the 2002–03 season, and as a result effectively ceased to exist.

     

    ]The 2000s: Della Valle era

     

    The club was promptly re-established in August 2002 as Associazione Calcio Fiorentina e Florentia Viola with shoe and leather entrepreneur Diego Della Valle as new owner and the club was admitted into Serie C2, the fourth tier of Italian football. The only player to remain at the club in its new incarnation was Angelo Di Livio, whose commitment to club’s cause further endeared him to the fans. Helped by Di Livio and 30-goal striker Christian Riganò, the club won its Serie C2 group with considerable ease, which would normally have led to a promotion to Serie C1. Due to the bizarre Caso Catania (Catania Case), however, the club skipped Serie C1 and was admitted into Serie B, something that was only made possible by the Italian Football Federation’s decision to resolve the Catania situation by increasing the number of teams in Serie B from 20 to 24 and promoting Fiorentina for “sports merits.”[5] In the 2003 off-season, the club also bought back the right to use the Fiorentina name and the famous shirt design, and re-incorporated itself as ACF Fiorentina. The club finished the 2003–04 season in sixth place and won the playoff against Perugia to return to top-flight football.

     

     

    HH!!

  14. The Battered Bunnet on

    I was challenged in a meeting today to explain why I thought it was appropriate to use profane language in conversation but never in correspondence.

     

     

    I replied that in my experience, using profane language in emails etc tended to F#*$ people off.

  15. Maybe it’s not a St Mirren tie. The person beside Green is wearing a Newcastle United jacket and tie. It could be a Newcastle tie that Charles Green is wearing. The other guy is Steve Stone, I think.

  16. Thanks for that Philvis,

     

    There was me swithering about the man’s credibility too!

     

     

    EC67

  17. FourGreenFields

     

    12:41 on

     

    8 April, 2013

     

    lionroars67

     

     

    Emails sent mate , how we’re you after Saturday nights wee ? Swally.

     

    HH

     

     

    Fine buddy thanks, good to meet up and chat all things Celtic with laughs and beer, cant be beat

     

     

    Hope to catch you on 27th

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