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.
You can order a hard copy of CQN Magazine, issue 5, with credit/debit card or Paypal and buy direct from the UK for only £3.50 + £1.50 postage and packing. Shipping costs £2 to ROI, £3 to Europe and £4 to elsewhere. Click on the link below to order.
Click here to view the new issue of CQN Magazine online for free. You can support the online edition by making a discretionary donation here.
1,216 Comments- Pages:
- «
- 1
- ...
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- ...
- 32
- »
I love the Kinks
“The Village Green Preservation Society” is great album. I’m listen to it from time to time.
I also love “Muswell Hillbillies”
The Kinks – Have a Cuppa Tea
Album is not easy to buy but I got it from good CQN friend.
The Spirit of Radio, Rush
Elton John on the whistle test beeb 4
superbo
I was hoping that that well known blogger James Traynor would be about tonight so i could ask him where i could get some succulent lamb in the South Side of the city tonight!
Damn!
Christy
Gotta Git
Good Night Scotland
Good Night Ireland
Good Night Wales
Good Night England
Good Night Canada
Good Night New Zealand
Good Night Australia
and
Goood Night.. Andrew McCarran.. wherever you are.
Kojo
Nite, nite Kojo
The Pogues
succulent schwarma? or just a big fat piece of mutton? THere she goes, The La’s
It’s my town and it always will be…..
Auldheid
you are consistently brilliant. I fire off the odd griping email to UEFA or Celtics PR crew and kind of think I’ve done my bit, sort of smug that it’s more that most of the posters on here and elsewhere have done.
You consistently produce constructive and well-constructed ideas, plans, alternative courses of action, what-if scenarios, and you present fights on several fronts – UEFA, SFA, licensing rules, tax laws, SFA administration… I hope you’re Peter Lawwell and fear you’re not. I hope you are in communication with PL and fear he is not in communication with you.
Do you have any grounds to believe that Celtic have wargamed the next 12 months as well as you have?
Moonbeams WD. Kano 1000 \o/ Supporting Neil Lennon 100%. says:
6 January, 2012 at 23:31
I’ve made the same specific point on this and previous threads.
I’m not sure where the ‘it’s a matter for the (SPL) board’ idea comes from.
As far as I can see it would take only two SPL clubs to veto any request to allow newco huns straight into the SPL.
So that’s any two from us, Mad Vlad and the team due to be relegated.
Ernie lynch
100% agree.
MWD
KOJO
My advice to your good self is to get out of paper asap. ;)
Bernanke is prophetic (lol) and the last one is the 40% devaluation of the dollar. Bob Chapman was talking about a 60% devaluation a couple of years ago. It is obvious Gold and Silver has been suppressed but it will react inversely to the dollar devaluation.
Celtic are so far ahead of the game because when the devaluations happen, being in no or little debt will leave us in an incredibly strong position.
Gary O’Connor to Rangers would be quite something, in more ways than one.
He grew up a Celtic fanatic, just like his father.
When Gary trained at Easter Road as an 11/12 year-old, they he used to wear his Celtic shirt under his Hibs training top.
Tom McLaughlin says:
6 January, 2012 at 23:55
I believe Mo Johnstone did similar as a youth when he trained with Celtic :-)
Look what happened to him.
ernie lynch says:
6 January, 2012 at 23:51
reassuring words…that alays any fears I had…!
Auld Neil Lennon heid says:
6 January, 2012 at 23:23
*****************************
I do think we have a strong hand to play and the SPL may be prepared to impose stingent conditions but if we have the veto through the voting structure I think the club and any allies we can encourage ie Hibs with loan signings for the rest of the season. I think self preservation for the club under threat of relegation will also help and the possibility of the top team in Div 1 getting involved, allows the SPL/SFA to put it on the too difficult to solve pile.
For me the only way is for NewCo to start in 3rd Div. form which I think they would struggle to get out of.
I think a meeting of supporters’ groups should meet and discuss the range of options the possible scenarios and try to get a consensus that we can articulate to the Board/CEO.
Tom McLaughlin
I doubt Rangers can afford to bring in any players, Thanks for the info though. It would be a very interesting move nevertheless. ;)
paulsatim is neil lennon says:
6 January, 2012 at 23:35
The Spirit of Arthur Lee says:
6 January, 2012 at 23:32
ahh, didnt realise he was using spotify!
apologies! As I’ve said before, when it comes to t’internet, I’m an effin idiot! Ring out soltace bells, jethro tull
Interesting take from Lenny,particularly in the light of the different viewpoints on C.Q.N.
B.B.C.,
Regarding the tackle between Kayal and McCulloch, Lennon said: “It was a good challenge between two committed players.”
hamiltontim –
Mo Johnstone? Who’s he?
Tom
Thanks for that
Good night
Love
Evenin’
Neil Young…The Thrasher
I cant see many players going to the Huns…contract not worth the paper its written on…
MWD, ernielynch,
it seems fairly straightforward to me too. However, I would almost be inclined to print off a copy of the rules every day in case they are changed! It is very important I think that the rules are published frequently and that people, not just Celtic supporters, are aware of them and how difficult/easy it is for the huns to be reinstated or not, in any form, and that supporters can lobby their own clubs on what they want. What we can;t let happen is the dripfeed of “nightmare-scenario” stories that somehow makes it acceptable for the huns to escape with minimum penalty.
From this post earlier:
emsh, 15:12
take this quote if nothing else
Remember, Rangers have only managed to be competitive by cheating. So the current competitiveness of our league (already low) is a myth. It doesn’t actually exist.
further distilled
Remember, Rangers have only managed to be competitive by cheating.
ernie
Did you get a ticket for Sunday?
macjay1 for Neil Lennon
I think Neil was not wanting to make a big deal about it, he has to work with everyone, and it is treacherous giving the media what they want.
I maintain elbows went in there to hurt Beram and I put it into the context of what was happening in the game at the time.
I’m guessing that Jelavic’s lack of commitment is probably due to the fact that it’s dawned on him that Embassy coupons don’t have the exchange rate he was led to believe they had. If I only had a brain, Ray Bolger & Judy Garland
Moonbeams@23:31
I agree with you that the matter is not at all straightforward.
I honestly think that the provision you referred to only tells part of the story.
Remember that each team in the SPL holds a share in SPL Ltd ( for want of a better name ) and that provision is designed to ensure that a team that goes bust does not waltz off with the SPL share that it holds and that any receiver, administrator,liquidator etc is bound to transfer that share to whoever the remainder of the SPL nominate. I am not sure that this provision was designed to deal with the situation where you get a wholly new application from the phoenix of a senior team– i am not sure anyone anticipated that.
Still, the clause would apply and everyone is stuck with it.
The point is that on an adminidtrator or whoever being appointed mid season, how on earth does this provision work?
It would appear that the insolvency event results in the automatic deduction of the ten points but then what?
No insolvency practitioner will want to run Rangers PLC so he has to transfer the assets at least ASAP and get the trading away from him. But if he does not trade and fulfil the fixtures, then who does?
The answer is no one– so where does the share go?
I also agree that to admit a new team other than by relegation or promotion etc they appear to need 90% to be in favour of admitting an applicant. So is the old company or even the receiver ( as that is what it will be ) to remain a member while that application is being made?
Don’t think so– and I honestly don’t see the rules allowing for a member that simply ceases to be! And that is looking more and more likely as the legal steps fall into place.
A receiver is appointed and wants to hive down the assets to a new co ASAP and leave the debt in the old husk. yet the new company at the time of the receiver cannot have– cannot even have applied for– a licence to play football!
Unless this happens in the close season, the Rangers would be unable to fulfil their fixtures and so must surrender any points gathered in that years league.
The player registrations would go and application would have to be made by the new company to start from scratch– namely get a licence from the SFA and apply to the SPL if that is deemed appropriate. It is then that 90% would have to vote in favour.
All the while the new applicant club could not buy a player because you can buy no one untill you are registered in a league somewhere. Again I am not sure the rules have allowed for this.
The whole thing is a bloody mess and will tax the very sharpest of us!
wait for it……..
Evening all. Busy day today.
I have a question for Paul67, but it’s almost certainly been asked and answered, so if someone could just point me to the page number on this thread, I’ll happily go and read what people said. The question concerns Paul’s assertion that Newco straight into the SPL would be an SPL board issue.
Lots of learned people on RTC today have begged to differ, citing Article 38 (i) of the SPL Articles, which says any expansion of the SPL by the addition or admission of new members, other than as a result of the rules governing promotion and relegation between the SPL and the SFL) is a Special Qualified Resolution, which means 83% of SPL clubs would need to vote to pass it.
Paul67, do you still think it’s a board matter, and if so, why?
As I say, if it’s just a question of reading back, please someone point me to the right page.
Trendsetters
The only living boy in New York, Simon & Garfunkel
Fred C. Dobbs says:
7 January, 2012 at 00:11
The Green Brigade just as much as the Celtic Board are driving Celtic out of choppy waters.
Divide and Conquer is their only weapon because when we are united they have no chance.
Another great Belfast band…
Therapy? Potato Junkie
steinreignedsupreme,
I guess our viewpoints will not converge on the McCulloch assault.
What was your view on his dramatic reaction? Genuinely hurt to the point of waving hysterically for medical assistance? Or something else.
He knew what he was doing, did it, and tried to feign serious injury to avoid a deserved red card. I don’t suspect he intended to end Kayal’s season, but I do suspect he intended to hurt him.
He has history of elbowing players, punching players and has gotten away with more in Scotland than most players. Nasty piece of work, in my view.
davythelotion –
No he’s not.
:~)