I caught an online synopsis of Rangers’ owner Craig Whyte’s recent meeting with a group of the club’s fans last night. The group report that Whyte hopes, “’Rangers Football Club Plc’ could survive any administration event but feels it would not be the end of the world if it didn’t.”
We can all agree, it sure wouldn’t be the end of the world if that particular entity didn’t survive, although I suspect Mr Whyte is alluding to the possibility of a new club emerging. Celtic Quick News first raised the liquidation scenario back in October and explained a prepack route for Rangers Newco FC. If a football company goes into liquidation a secured creditor, in Rangers case this would be Craig Whyte, can retain control of key assets, such as the stadium, but would not own a football club which was part of any league structure.
In Scotland any Newco FC would have to apply for membership of the Scottish Premier League or Scottish Football League. A simple majority of the SPL board (three votes required) would be enough to vote a club into the SPL. The board currently has representatives from Celtic, Dundee United, Motherwell and St Johnstone, as well as SPL chief exec, Neil Doncaster. It is chaired by Ralph Topping, who only votes in the event of a stalemate.
If Rangers lose their tribunal against Her Majesty’s tax authorities (think of her underequipped soldiers), Celtic will not be the only club who will consider the commercial and competitive disadvantage they suffered while paying their taxes for the last 12 years, but they may be one of the few clubs that would survive without the sponsorship and TV income dependent on a club with the Rangers brand participating in the league. Celtic would vote against allowing Rangers into the league but I can see zero chance of Dundee United, St Johnstone, Motherwell or Neil Doncaster doing the same. If the board voted Newco FC into the league, the liquidation of Rangers would not be the end of the world; a football club would die but another could quickly emerge at the same location, selling tickets to the same people.
Opening positions on what sporting cost Newco FC should face for league entry were taken months ago when it was reported that Rangers would fight “tooth and nail” against a 25 point penalty on a Newco. A 25 point penalty on the phoenix of a failed club after 12 seasons of financial benefit would be an insufferable insult. This amounts to little more than a the loss of a single league title. 12 seasons of benefit should result in a 12 seasons of penury at the insolvency-event rate of 10 points per season. Small cost for the enormous gift of a league place and a huge football franchise. The SPL must also strike from the record any financially doped titles won by clubs still in existence or not.
Can you imagine if Peter Lawwell said, “It wouldn’t be the end of the world if Celtic PLC didn’t survive”! There would be an impromptu media village outside Celtic Park that would rival the Obama inauguration in size. Huge story sitting on a plate just waiting to be written up. Or not.
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1,216 Comments- Pages:
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TTTT –
Thanks , I’ve emailed that info over to my wife. I am driving down from Aberdeen today so hopefully she’ll have it sussed by the time I get on the road.
DBBIA – I feel this could be the end of a beautiful friendship….!
T4
Paul67 – If Huns Reunited are allowed straight back into the SPL, they would be swiftly followed by Hearts Reunited and God knows how many other clubs seeking to beggar their creditors.
And there would be nothing to stop them from doing it again, and again, whenever their debts got out of control.
The league would lose what commercial and sporting credibility it has.
Anyway, hopefully it isn’t as easy for them as the bug-eyed billionaire seems to think. What would happen to the registrations of Rangers players if the Govan Death Star explodes? (thumbsup)
If hun FC loses its appeal then surely it is leaving itself exposed to all manner of legal complaints and proceedings lasting for years. Very poor publicity. Extremely expensive to keep paying lawyers to protect your name against a list of litigators. There is no guarantee that you will win ESPECIALLY if you have lost the appeal and manage to survive.
Therefore. Hun FC has no option but to become NewHunFC.
Hail Hail
philvisreturns says:
6 January, 2012 at 12:50
“Heavy is the burden of being me.” (thumbsup)
sounds more like a descriptor for ally mccoists current waistline.
tommytwiststommyturns – It’s spelled “Timlord”.
And you may call me The Master. (thumbsup)
Paul67
I also posted this in the previous blog, Rangers are now dead they will be gone in months we will be declared champions shortly the question I have posed is what you have covered in your article, we as a support have to meet to discuss what we will accept from our Board and the authorities as a punishment for RFC Newco
St.John.Doyle says:
6 January, 2012 at 11:31
Terry O, you must not be able to contain yourself waiting for Guidi to be back on Snyde, will they give you the right of reply now RTC and Whytey have confirmed your point.
On the issue of the day I think given what has been reported from the meeting with Whyte and his followers, RFC are gone whether that is Admin, Insolvency, Liquidation or Hive down….etc., these mechanisims are only important in who and what creditors including HMRC will get paid or not. They are finished we as a support now have to discuss what the acceptable punishment will be for Newco.
For me there are 2 scenarios that seem to be emerging;
1) Newco apply for the vacant licence left by RFC and start off in the 3rd Division, quite straight forward and my preferred option.
2) Newco do a deal with the other SPL clubs and get re-entry into the SPL with suitable punishment, that punishment could be for instance, a 25 point reduction for this season followed by 5 years of a 20 point handicap at the start of each season. Also they would have to forfeit say 5 of the Championships and all the Cups they won since 2000.
Now option 2 could also be appealing as in my opinion Newco will suffer what ever the scenario and will struggle to attract players to the club they are at a very low base now in terms of squad. I think if Option 2 was agreed Newco RFC would be relegated if not in the first year then in at least in 1 of the years.
RFC and their “superiority” will be gone we as a support will have to start discussing and agreeing our strategy to put to our Board/CEO.
I think a meeting should be called by the various supporters groups that have met previously in the Supporters Club on London Rd.
We have a lot to discuss and this will be a really momentous moment for our club.
I know many others will develop options I have not mentioned but I thought I would throw my thoughts in to see what we can develop.
TTTT, now don’t you go all Ayrshire on me.
I’ll have to grill ole Cadizzy about the glories of Rico’s, and whether it’s third star was deserved.
“And you may call me The Master…..” – think you’re missing 5 letters at the end there! (Thumbs up) :-)
T4
Dontbrattbakkinanger says:
6 January, 2012 at 13:00
Ayrshire hasnt had 3 stars since the Celtic stopped training at Seamill.
ernie lynch says:
6 January, 2012 at 12:55
Go raibh mile maith agat.
Árd Macha
philvis – It’s hard to overstate my SATISFACTION.
Ernie Lynch – I think you may be right. However, the huns are going to have to cut their cloth accordingly moving into the future. They will downsize hugely. Only their overspending has kept them competitive in the past and this avenue has gone.
If we are run properly we should show them our heels for a few years to come.
DBBIA – thought you were quoting from Casablanca there…! DOH!
T4
Gourock Bhoy, the dockers is next door to Ricos. Across the street from the old Coop. Function suite is up the stairs.
Tip: The committee stazi guys who roam about are ehhhh ‘keen’ on the rules!
For Gawds sake don’t even think about walking away from the bar without using a tray.They’ll be on you like Craig Whyte on a fiver…..
T4
Lol
Microsoft have reported a surge in use of thesaurus software trying to work that one out.
Che – sounds more like a descriptor for ally mccoists current waistline.
Poor Ally.
Becoming a fatty boom boom – especially for a man who used to be a professional athlete – is a sure sign of stress / moral weakness / poor habits.
Not very encouraging for the huns given the mess they’re in. (thumbsup)
DBBIA ,
I lived in Carlisle (Warwick Rd then Rydal St ) for 18 months in 1987/88 , but got fed up with the riots and the battles between the locals and the boys from Dumfries. Rico’s and Greenock dockers club sound much more my cup of tea than “The Post” and “The Pagoda”.
Gordon_J backing Neil Lennon says:
6 January, 2012 at 12:53
‘Paul
The SPL Board would decide if the Newco was allowed membership of the SPL – I thought it was a vote of all members?’
The board decide but the matter has to be referred to the board by 90% of ‘members eligible to vote’.
I’m not sure if the huns would be included in the number ‘eligible to vote.’
So it might be 90% of 12 ie 11 or 90% of 11 ie 10.
James Forrest is Lennon says: 6 January, 2012 at 12:47
At the rik of repeating my agreement with you, I agree.
Sport without integrity is not sport, it becomes a money making exercise for vested interests.
It would be the death of Fottball as a sport in this country.
Punitive sanctions, whether Rangers go into administration, or receivership, or even if there is a cash rich fan who will save thems from those indignities must be imposed as punishment for cheating(financially doping the leagues for 12 years).
Great article Paul, only a little light weight on the punishments for me, 25 points for 12 years.
For those intersted, got a wee tip from jockey pal
Lingfield 3.25 Even Bolder 5/1 win or 11/4 3 places.
Gamble responsibly.
Gourockbhoy – long time since I’ve been in the dockers, but a tray of “wee champagnes” is very good value and you can set yer watch for the fight starting….!
TTTTeldoradoCSC
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS says:
6 January, 2012 at 12:54
ST. JOHN DOYLE 1228 from previous
I posted this earlier on RTC,and I do not for one moment think it’s only you and I thinking along those lines!
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majoc says:
06/01/2012 at 8:55 am
Bryce Curdy 0648
I doubt I’m alone in my long-held belief that the fact of Rangers cheating to gain CL money at the expense of their main rival,with a gain to one of around 40m to one and an equivalent loss to the other-a turnround of £80m-is FRAUD.
Fraud on such a scale perpetrated by one listed company on another should be investigated by the financial authorities,and by the City of London Police.
It most dertainly would be investigated in this way in any other business!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Having said that,it was the City of London Police who instigated this,during other investigations.
Involving Harry Redknapp,IIRC.
Cheers,Harry. You may have brought down a bigger barrow-boy than yourself!
share
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Thanks for that I think a sustained fraud has been commited and should be become a Police matter after the Tax Tribunal has delivered its decision. This will involve the previous directors but will also crucially involve the new team for their non-payment of PAYE and NI from this year. This would be harder to prove but it may be required to make the SFA/SPL pause before granting licences to directors of a Newco RFC who were involved with the old RFC.
I dont think Whyte and other directors could be involved with the Newco as they will be barred under the rules, so who does Whytey punt the Newco to.
Very good synopsis. I think striking the titles from record would be a good idea. I would also hope they, as new company, started with a record of zero cups and titles and were not allowed to say they were formed in 1875.
Actually there is an ironic opportunity in the face of risk and that is to rebrand as a modern untainted club not burdened by the often grotesque past that some fools feel proud to be a part of. Change of company could / should be a change of culture.
ernie lynch,
If the Newco is applying for membership it can only be because the current huns don’t exist anymore so that there is a vacancy.
It would be 90% of 11 then – so we would need to find one other club to vote against.
Kittoch says:
6 January, 2012 at 13:07
Obviously dear posters for the sake of clarity the jockey pal is not a professional or in anyway linked to a stable with runners in the race………….
Taken from the RTC Blog
FROM NO DANGERS TO NO RANGERS!
A very interesting and well put together article that hits home on the key points. Well done RTC.
The mainstream media trail behind the Spin Doctors wake, and it only takes the great Whyte hope to open his mouth directly to blow the party line clean out of the water.
However, as we inch ever closer to the end game in this pantomime, let us not forget the distance travelled and the route which is perhaps yet to be explored– for it is truly undiscovered country!
At the very outset the tax bill itself was denied. Thereafter an absolute defence to any suggestion of tax being due was promoted, with reference to counsel’s opinion being heralded by Sir Minty!
No tax was due, and they (whoever they were ) had every confidence in an absolute defence. Even when Whyte arrived on the scene ( The Billionaire owner of Braehead and other shopping centres and property portfolios ), the absolute defence was promoted again with House of Lords decisions quoted in support of the “fact” that Rangers PLC COULD NOT be found liable for any tax at all!
Then we had the mass media scrum which followed AJ’s most famous nod of the head, which lead to the allegation that Rangers “could” go into administration– supposedly for the tax that they most definitely did not owe and for which they had an absolute defence!
Very Quickly, AJ was wheeled back out to deny all categorically, and there was the famous Radio Spat between Messrs Traynor and Young about what was the proper journalistic practice and whether or not any of this doomsaying malarkey had the remotest of truth about it.
Various sources then heralded the arrival of the Whyte Knight with his billions to spare. A “warchest” of up to, but possibly more than, ( yes you examine the English and figure out what that means ) £15Million would be made available to Mr McCoist to renew and strengthen the playing squad. A Further £5Million per year was to follow!
Hurrah for the blues!
But then the wheels started to come off the bogie. Bayne leaves and low and behold blows the whistle in court that there could be an insolvency! Did the media train faint in amazement? Was there mass hysteria at this, and a round of headlines suggesting that Bayne had lost his marbles? Or was in need of a doctor and severe medication?
No– and that was because for years the same Martin Bayne had been quoted Ad Nauseam by the reporting hordes as one of the sources of all truth re matters Rangers.
Then we started to get the suggestion that Administration was a “possible” route for Rangers to go down if the seemingly absolute defence was– eh– not absolute at all. It wasn’t a “preferred” route but one that was being examined. Recently, Roddy Forsyth and others were peddling the idea that there would be funds for McCoist, or that Whyte may delay putting in funds until after the FTT had ruled. In which case, if the tribunal ruled against Rangers, there might be a quick Adminidtration with Rangers PLC coming out the other end debt free and with minimum disruption to resume normal service. What total and utter tosh!!
Most recently, of course , we have had the notion that a deal would be done with HMRC at around £5million ( for the tax which of course was never due and for which there was an absolute defence )– and for that paltry sum HMRC would get a return and the good ship Rangers PLC would be saved!
Hurrah again for the blues.
Only for Mr Whyte himself, as minuted and noted by the Rangers fans themselves, to make it quite plain that there could never be any deal with HMRC and that it would not be the end of the world if there was not only an Administration or Receivership, but also a decent burial service following the death and demise of Rangers PLC itself.
From no dangers at all– to know Rangers at all.
Without even going into the complexities of a new company, where it will play, if it will get a licence, who will be its Directors and so on– does anyone think that the death of Rangers PLC draws a line under the issues raised by the tax case and that only the future is to be considered?
Over on Twitter, Stewart Regan has been pretty candid in answering questions re the current Rangers Euro Licence. Of course they have a licence he says– and therefore concludes that at the material date Rangers were compliant with the rules! He makes it plain that the SFA were satisfied that Rangers either had no tax bill, or that the rules allowed them to have an outstanding tax bill as at the relevant date!
Now this is interesting because what happens if the SFA were only satisfied on the strength of the factual submissions made by Rangers PLC at the time– but it then turns out that those submissions were incorrect? What would the SFA position be then?
Worse still, what happens if the written decision of the FTT reveals that there were indeed two contracts with the players– one governing the EBT and one not mentioning it at all– and that this fact was witheld from the SFA and the SPL in breach of their respective rules? Those rules are there for a reason– they are not mere technicalities!
You see, even we on this blog get used to certain buzz words such as “spin” and “PR Gurus” and such like. However, at the end of the day what we are talking about is the word “Lie”!
If both the current and the previous administrations at Ibrox have misled the footballing authorities then one has to ask the question “What happens now?”.
Of course there will be those who will argue that you cannot punish a new company for the transgressions of the old– but is that so if there is the semblance of that new company being linked to the old by one of the rescue or exit routes so ably described on this blog by the Don, On x 3 and others?
Any new company only has a life in football at the behest of the floating charge holder– namely the very same people who are and who have been at the core of this whole scandalous history. As another poster has mentioned– take a good look at the machinations of the Merchant House Group. Who funds it, how does it run, did it pay off the Lloyds debt and /or provide the means to do so? Has it in some way assumed that liablity and engineered a financial maze with a view to concealing what is really happening here?
The footballing authorities would also have to ask how this can have happened on their watch–and far more than any report by Henry McLeish, dodgy refereeing decisions, strange disciplinary hearings, sectarian e-mails or anything else— such a situation proves beyond a shadow of a doubt the charge labelled by John Reid that the SFA has for years simply been not fit for purpose!
Only one of two scenarios exist here:
Either Rangers PLC and those who run that company have flouted the rules of football for years with disasterous consequences for everyone involved in the game OR the rules of football have not been up to scratch to deal with illicit behaviour in the Governance of Rangers Football Club. Either way there are questions for The SFA and the SPL to answer as all this happened under their nose and inspite of their rules,checks and balances!
If there has been Financial irregularity which has lead to unfair advantage and thereafter consequential loss to the shareholders of Celtic PLC– and here I am not talking about trophies and medals but rather about the loss of hard cash and revenue to that club— does even the admission of Rangers 2012 Ltd to division 3 of the Scottish league deal with this matter in full or are there other sanctions and remedies to be considered?
At the very least, I think The SFA and the SPL are duty bound to have a full investigation– possibly an independent investigation– into how one of the biggest football clubs in the country– with special designated status in terms of the collective media rights covering the whole SPL– can have been permitted to conduct its business in an illicit fashion for so long without detection by the footballing authorites. This is necessary if only to ensure that such a process cannot happen again, and to examine what changes,if any, need to be made to the SFA/SPL rules to provide further powers of investigation and sanction if they are needed.
Needless to say, the lack of action and the decision making process of the SFA and SPL would also come under scrutiny– and it may be that those bodies will have to gird their loins for a rough ride and some uncomfortable questions– after all if they had acted quicker, investigated further and so on, then the public purse may well be many millions of pounds better off.
lastly, the football authorities also grant licences and have agreements in place with the radio broadcasters– or at least some of them. If these radio broadcasters– as well as the tabloid press– continue to feed the public ( including the shareholders of the Ltd companies who run football clubs )- complete and total nonsense and fabrication– should those broadcasters be allowed licences to cover scottish football at all?
It is in the interests of everyone in the game or with an interest in the game that this practice of presenting totalyl uninformed, imagined,or fabricated bullshit as fact should stop forthwith.
Opinion is one thing, the stoic regurgitation of ignorance or someone else’s lies is another altogether
BRTH
SonsOfErin – “When life gives you lemons, don’t make lemonade. Make life take the lemons back! Get mad! I don’t want your damn lemons, what the hell am I supposed to do with these? Demand to see life’s manager! Make life rue the day it thought it could give Cave Johnson lemons! Do you know who I am? I’m the man who’s gonna burn your house down! With the lemons! I’m gonna get my engineers to invent a combustible lemon that burns your house down!”
(thumbsup)
Maley’s Bhoys on Facebook (usually reliable) reporting that Kayal needs ankle surgery and will be out for four months
Beram Kayal out for at least 4 months according to Tony Hamilton on twitter. Can we sue?
Paul67 – Some good points, and very well made
On another note, could the magazine perhaps do a featurenon Lorraine Kelly? No disrespect to top Timmette Elaine C Smith, but Ms Kelly is the top morning TV MILF.
Cheers
tommytwiststommyturns Kano 1000 – “And you may call me The Master…..” – think you’re missing 5 letters at the end there! (Thumbs up) :-)
A hand relief joke on CQN.
Oh the pain! The pain of it all… (thumbsup)
Brogan Rogan Trevino and Hogan supports Kano 1000 says:
6 January, 2012 at 13:10
great post but please repost without the vulgar word before it gets deleted by moderators. I have been nominated by my fellow CQN community to tell you this due to my unblemished CQN record in this area ;-)
Your friendly neighbourhood
Awe Naw
Burnside Harp says:
6 January, 2012 at 13:13
Isn´t Lorraine Kelly an arab ?
Hail Hail
Can someone please explain why there are only 4 teams represented on the SPL board it doesn’t make sense to me I’m afraid.
Beram out for 4 months. Not good news!
Jobo
HH ..
I don’t think for one second Rangers would assist us if the financial plights were reversed.. We need to be strong.. You must look your enemy in the eye and knock them down .. Because if you let them back up, they may destroy you..
At no time should we be seeking to assist a newco Rangers.
This notion” we need each other” is rubbish.. We (Celtic) are allowed to be happy.. The demise of Rangers makes me happy.. This is an institution that discriminated against people( RomanCatholics) for over a century..
Sure, times move on..but never forget.. Our forefathers and sisters did not stand up to this establishment to have it all whitewashed…
Tyrants and villains often get found out.. They should accept their fate..
We shall not be moved…
Awe_Naw_No_Annoni_Oan_Anaw_Noo – Isn´t Lorraine Kelly an arab ?
I thought George Galloway was. (thumbsup)