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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1,024 Comments

  1. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    SUMMA OF SAMMI 0839

     

     

    They don’t need to have been alive when she was in power to suffer from her legacy.

     

     

    Generations yet unborn also have that fate to look forward to.

  2. macjay1 for Neil Lennon on

    Mikail Gorbachev and Vladimir Putin express their admiration,respect and affection for Margaret Thatcher.

     

    They`ll be glad they didn`t post on C.Q.N. where they would have been branded “right wingers.”

  3. jungle jam67 @ 09:06,

     

     

    Would certainly agree, although many are nervous about A rangers resurrection, and lets face it, these fholk ain’t paranoid, they can point to every institution and authority that should have dealt with Rangers and found them wanting.

     

     

    Still despite of, or maybe more accurately because of the helping hands, Rangers are on their knees and they are just as likely to see internal, external and fan support dissipate over the months and years before they are competing on a platform that can make the Club viable.

     

     

    I’m not convinced they’ll get there, this season has been a year of decline, which seems an odd thing to say about a new Club, but if you look at their expectations and aspirations it is true.

     

     

    How can things possibly be better for them next Season? Can’t see it meself.

     

     

    Hail! Hail!

  4. bobby murdoch’s curled-up winklepickers

     

    >>>>>

     

    Thanks for remembering,bud. Feeling real hopeful about getting back on the chemo regime.

     

    You have to be robust enough to cope with it. Otherwise…..well, I’m in the dark as to what, if anything, they can offer.

     

    Anyway..

     

     

    Thatcher; I was politically involved in fighting her back in the day. Long stories, so I won’t!

     

    We lost, and look around at what became of the UKplc.

     

    So, how’s yersel’? How do you fill your days.?

     

    I never understand people saying they’re bored when they have their health and can get about. But that’s just me.

     

    Hope yer day goes well.

  5. macjay1 for Neil Lennon

     

     

    09:39 on 9 April, 2013

     

     

     

    It’s what people like that say in circumstances like this.

     

     

    Those praising her do seem to be a bit of a motley crew.

  6. So will we get the fixtures today? Or are the league officials too busy trying to save their reconstruction plans? It is looking more and more like St Mirren and Ross County will vote against next Monday, killing off the whole thing.

  7. Find an unused coal mine (I’m sure there must be one or two available somewhere) and put her rotting corpse down as deep as it can go.

     

     

    A fitting end I would have thought.

     

     

    Hx2

  8. Again, Thatcher.

     

    Bobby Sands, R.I.P.

     

    Sums her up in a nutshell.

     

    I cannot go down the route of ranting about her. I was there, as were many of you. We KNOW the reality of her dictatorship…..and it was an elected dictatorship. Unmandated horrific policies…..just like today.

     

    And there I stop. What she acted as a front for (unregulated greed) has led us to the state of things today.

  9. Margaret McGill

     

    Loved your posts in the night shift – keep doing what you do

  10. Gordon_J backing Neil Lennon

     

    09:48 on

     

    9 April, 2013

     

     

    Perhaps the SPL’s end game all along. Give them the chance and when they reject it, create an SPL 1 & 2 and cut the SFL adrift. They have 2 chances to do this, SPL vote against and/or SFL vote against. Looking like both bodies will reject.

  11. jungle jam67 on

    chairbhoy

     

    09:43 on 9 April, 2013

     

     

    too right mate

     

    unless some rich arab puts in a load of cash

     

    if celtic make the champions league again

     

    it will be another nail in the sevco coffin

     

    the zombies are hurtin right now

     

    and if whyte has his way there will be more on the way

     

     

    hail hail

     

     

    jam67

  12. murdochbhoy, yermanfrommk: 07:49 on 9 April, 2013

     

    >>>>>>

     

    That quote she used as she entered Downing St. were taken from St. Francis of Assisi.

     

    An absolutely cynical, smirking contemptible act.

     

    That was her.

     

    An evil little bitter woman who had Savile round for Xmas at Chequers every year.

     

    Let’s hear the msm talk about that, her love of Pinochet…..the list is endlesss.

  13. Kayal33,

     

     

    That’s the problem. There’s much about the current reconstruction plan that I don’t like – but they are making it an all or nothing vote. The sensible thing to do is to leave things as they are for next season and have a proper debate about how our game should operate – but I’m not holding my breath for that.

  14. Someone ditched their 5 Sevco shares as soon as the stock exchange opened this morning.

     

     

    lol!!

  15. Gordon_J backing Neil Lennon

     

    10:07 on

     

    9 April, 2013

     

     

    A proper debate would be far too sensible!

     

     

    A proper debate would begin with the fundamental question that so far hasn’t been asked, can we sustain a 42 team professional set up in this country?

  16. ASonOfDan – 10:11 on 9 April, 2013

     

     

    I note that the SP has dropped below 70p for the first time since launch. Some innocent people will have been duped into losses on this. The mantra for investing is always Do Your Own Research, but I’d suggest that some of the information coming out has made that a little difficult. Although I’d also say that anybody expecting to make money from football shares probably shouldn’t be investing. Unless they’re getting them for 1p each knowing they’ll be launched several magnitudes higher.

  17. Dundee chief executive Scot Gardiner has accused St Mirren of acting self-interestedly in stating they will vote against league reconstruction.

     

     

    Buddies chairman Stewart Gilmour has declared that he will vote against the Scottish Premier League’s proposal .

     

     

    “Everyone has to compromise to come up with a system that keeps 42 clubs happy,” Gardiner told BBC Scotland.

     

     

    “I’m afraid it’s utopian and doesn’t relate to real life to think that some clubs can cherry-pick what they want.”

     

     

    He also told BBC Scotland’s Sportsound programme, that voting against the proposal would mean retaining the present situation.

     

     

    “A vote against isn’t just a vote against 12-12, it’s a vote to keep the status quo, and the boot will be kept on the neck of Scottish football.

     

     

    “Because there’s no more compromises; everyone’s given in something, so, for some clubs to say ‘we’d like also that and we’d like also that’, that’s a red line for us.

     

     

    “I think it’s self-interest.”

     

     

    Gardiner also insisted that he was prepared to support keeping the 11-1 voting system in the SPL – one of Gilmour’s main objections to the reform plan.

     

     

    “It’s easy to make statements where you say ‘we shouldn’t do this and we shouldn’t do this’,” he said.

     

     

    “There’s been an enormous amount of compromise from clubs all over the country.

     

     

    “I put my hand up against in January, but there are very good arguments for keeping it when you get into the detail.

     

     

    “The 11-1 is there for protected matters, and that means protecting everyone, not jsut one or two clubs.”

     

     

    And the Dundee chief also maintained that change had to happen if Scottish football was to survive.

     

     

    “We have a sick patient here,” he said.

     

     

    “Crowds are going down, sponsorship is going down, TV audiences are disastrous and the First Division is effectively a basket case.

     

     

    “Our game is in dire need of change.

     

     

    However, Gardner did admit that the football bodies had not presented the new proposal to the public well.

     

     

    “I believe, if things are explained properly about where we’re at, then fans can realise this is the situation we’re in,” he said.

     

     

    “PR-wise, could things be handled better? Absolutely.

  18. weeminger

     

     

    I always thought that the price dropping below £0.70 would be a game changer. I expect alot of activity now and the bloodletting on the Sevco board to commence…

  19. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    MIKI67

     

     

    Oh,you don’t wanna hear about my indolent lifestyle away from work!

     

     

    I bought the Daily Mail today for the first time many a year-the column inches in its 84 pages devoted to her beatification are truly awesome.

     

     

    Quite honestly beyond parody,it even reads like satire.

     

     

    Get a good result today,mate-there’s a 100% success rate on the line here!

  20. starry plough

     

    10:20 on

     

    9 April, 2013

     

     

    That’s what we should be looking at. 2 x professional leagues of 10 or 12, then 3 x semi-professional regional leagues below that in the pyramid, then down through the levels beyond that.

     

    Not rocket science, it works elsewhere (Scandanavian countries do it as well).

  21. Kayal33

     

     

    The main improvement I have seen since I came over here in 1999 is that the regularly produce players who go on to play in Germany and Italy before they had good players who mostly didn’t make it at bigger clubs for example Hakin Yakin went to PSG and Stuttgart and both times came home without making his mark.

     

     

    Their national team regularly qualifies for major tournaments so they must be doing something right at grassroots level okay Basel is the big club here and their stadium holds 32K the other clubs rise and fall to compete with them but after watching them in London the other night I see they have a right good crop of youngsters again and that’s after selling most of their team when Fink went back to Germany!

     

     

    I’m not sure that football is even the first sport here but it shows you what can be done if it is approached in a professional business like manner( which is the Swiss way) and that I’m afraid seems to be beyond our games leaders(too many conflicts of interest) i.e. government by the huns for the huns mentality..

  22. Anyone who worked in National Savings Bank Cowglen will remember the strife between management and unions that heralded the arrival of the Iron Bampot.

     

    The thing was that were issues of too much union power to be addresed but the gusto and vindictiveness behind some in management charged with leading the charge was I think a reflection of Thatcher’s own mindset.

     

    As a middle manager at the time I was caught between the two forces and it was not pleasant.

     

    In fact it was so unpleasant my immediate boss chickened out on sick leave and left me to act as buffer.

     

    Well I did but at a cost to my career as I was viewed as a “them” and not “us”. The brakes went on and in later years in another Department I was told my reports from NSB did not reflect the individual they had been working with.

     

    However Karma made an appearance and after leaving because of the unfairness I got a two year tour in Barbados and a couple of promotions and then early retirement when it suited me.

     

    Im not sure how well that staff fared but it was a traumatic time for them too and the Iron Bampot has much to answer for because of her lack of the milk of human kindness she suffered from.

     

     

    I do not lack that and so I will not be singing or dancing at her departure from this life but given how it all worked out well for me in the end Im sure a little GIRFUY to her and her henchmen is within order.

  23. .

     

     

    Happy Birthday Fabrice Muamba 25 Today..

     

     

    Mibees the National Health service is No that Bad..

     

     

    Or Did He Go Private..

     

     

    Oh the Dilemma..

     

     

    Summa of BallsToPrivateisationCSC

  24. See…….The NHS is totally brilliant…..they’ve just given me a recliner chair to aid with my illness. Is that not amazing?

     

    HH!

     

    Football watching in total comfort…..yeeeeehaaaah!

     

    : > )

  25. To be truthful I never favoured the 12-12-18 proposed set up but was prepared to welcome it because it annoyed them so much. At this stage the best thing would be to leave things as they are for next year. For me the ideal would be an 18 team Premiership with one round of Home & Aways i.e. 34 games but the entire Scottish game has been built around the 4 “Old Firm” games. I realise it may not be possible to jump to 18 immediately but the plan should be to work towards that, as a first step I would probably favour a 14-14-14 with a top 6 bottom 8 split.

  26. Gordon_J

     

     

    According to Neil Doncaster, when he went on Radio Scotland, trickle-down money from the SPL to SFL1 is the key factor. He brought up the Dunfermline situation a couple of times for the purposes of illustrating the point.

     

     

    It seems that adapting your structure to suit the SPL and SFL1 is extremely hard because of the lack of funding in SFL1. The propsals he is putting forward hinge on making more money available to SFL1 clubs to help bridge the gap. The club giving up the most is Celtic.

  27. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    SUMMA OF SAMMI 1033

     

     

    With respect,I believe my point to be a valid one and your reply to be flippant.

     

     

    But we won’t fall out about it-she is responsible for too much division as it is….

  28. Also, you have to have some sympathy for Dundee because of the way they were messed around in the last close season. What chance did they have to prepare for a season in the SPL?

  29. 16 roads - Neil Lennon walks on water. on

    It amazes me how English fools elect these cretins,then deny any responsibility for their evil policies and actions.If you vote for them,and put them in their positions of power,then you are as guilty as they are in my humble opionion.I mean,who in their right mind would elect these criminal Tory bloodsuckers?They are the enemies of all decent people.

  30. Celtic_First,

     

     

    But why does more money for the second tier have to be dependent on reconstruction? Surely the financial distribution of cash to clubs can be changed while leaving the current four league structure in place?