Ogilvie was born for this moment as SFA to consider expelling Rangers

877

Although Rangers won their case at the Court of Session today, they have the option not to serve the ruling on the SFA that its Judicial Panel’s 12 month ban on player registration is illegal.  Winning the point in law might sound like a victory, but taking the Association to court breaks membership rules of the SFA, rules imposed on all associations by Fifa.

We will find out soon enough the reach of SFA president, Campbell Ogilvie, who was one of the recipients of an EBT which precipitated Rangers crisis.

Rangers are deep in Sion territory now.  Either they walk away from this showdown, the SFA expel or suspend them from football, or Fifa will shortly remind the SFA of their duties when a member club takes action in the civil courts.

Campbell Ogilvie was born for this moment; it justifies him holding onto his position all these months despite being “heavily conflicted”, according to his chief executive.  I do not expect this to end well.

Despite an independent judicial panel ruling against Rangers, there is no way the office holders at the SFA will expel Rangers, no matter what they do. They would rather jeopardise the Scotland national team and every other club’s European participation.

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  1. tomthelennytim on

    Just read BRTH on RTC and it has me thinking.

     

    A lot of people were disappointed when Barca’s “nuclear” news yesterday referred to Souness and payments via the EBT.

     

    Barca simply asked Souness to explain.

     

    Then BRTH posted this:

     

    “Now either this payment was a straightforward payment ( if there is such a thing ) through the EBT or it is a payment that has been disguised as a “standard” EBT payment.

     

     

    If it was truly intended for Souness that is one thing but….. if it was actually intended for someone else, then that is even more curious still.”

     

    RTC asked last week (I think) for all previous Rangers managers to explain why they were still being paid via the EBT system when no longer working for Rangers.

     

    So ask yourself this. Reading between the lines, who was the ultimate recipient of Souness payments for that news to be “nuclear”?

  2. tomthelennytim on

    Who could that money have ended up with that would make Rangers “unsellable” and would have the people involved in paying it looking for countries with no extradition treaty with the UK?

  3. Zbyszek on 30 May, 2012 at 05:31 said:

     

    Good Morning to all.

     

    ……

     

    You beat me to it this morning Zbyszek HH

  4. Good morning to all you Celts out there, I was wondering are the Huns as thick as ….. Or is there strategy to bring down Scottish football, or could it be both?

     

    It’s going nicely for any club who’s strategic aim is to move to a better league, let them carry on as it’ll be out of the SFA’s hands soon if they don’t act responsibly…… Tic toc!

     

    Hx2

  5. Good morning friends from East Kilbride. A grey start to the day and a wee bit cooler than of late. But still dry.

  6. tomthelennytim on

    This was Barcabhoy’s original post:

     

     

    What may be of interest to him, and others, is that the very worst of the offenses committed by Rangers have yet to be properly put into the public domain. In fact they haven’t been put there at all.

     

     

    They will be and when they are, they will be beyond belief. In fact I had a problem believing it myself initially. At the point of disclosure I very much look forward to reading Adam’s efforts to put forward the alternative view.It’s not my story so i can’t control the disclosure timescale, but when it comes out it will be nuclear

     

     

    Just to make this clear, what has still to come out is worse than illegally registering players, is worse than using VAT and PAYE as cash-flow, is worse than deliberately not paying fellow clubs, is worse than deliberately abusing the EBT system

     

     

    its much worse……

     

     

    My advice to those who know what they have done……don’t walk away…….run away as fast as you can,preferably to somewhere without an extradition treaty with the UK……because you know what you have done, and you know that its coming out.

  7. Early post for Sannabhoy……..

     

     

    Funding renewal for the weans tickets……..can you enlighten me on how to make my annual contribution.

     

     

    Taverymuch

     

     

    Paddy T

  8. archdeaconsbench on

    Watching last nights NNS…. Where did they get this female lawyer character? Lionel Hutz?

     

    Is this what passes as an ‘expert’ on a national broadcaster now?

     

    ‘Yes, they hold all the cards in this thing, whatever it is. As I said they really are holding all the cards. If they disagree, then the whole house of cards can, y’know… it might even be the case that they sit round the table with the cards and ask questions.. ..absolutely….’

  9. Allgreen tthinks SPL are at it on

    If the SFA do eventually suspend the Huns would this suspension still apply to a newclub?

  10. Speaking of meetings . . . I can’t seem to find any media reports on Monday’s controversial tête à tête between Messrs Lawwell and Green.

     

     

    I’ve searched everywhere and I can find nothing.

     

     

    Ach well, I’ll just have to wait until James Forrest enters the building, because on CQN on Monday morning, he seemed to be well “in the know” about the movements of our esteemed CEO.

     

     

    Spill the beans James.

     

     

    :~)

  11. fergus slayed the blues on

    Barcabhoy

     

    It couldn’t possibly be a MBB ,now that really would be nuclear .

     

    Although anyone to link all the duped parties would maybe do it also .

     

    smokinggunCSC

  12. Good morning all.

     

     

    Ok who did it? I know one of you lot out there did it!!!!!!!

     

     

    Who took away the sun and left these clouds behind???????

  13. Silver City Neil Lennon on

    Back to football. Are both our qualifying rounds for Europe before the transfer window deadline? Can we hang on to as many players as possible until we know how rewarding a season we can offer them?

  14. McCoist, meanwhile, said: “At least now I

     

    have a chance of finding players for next

     

    season and that is great news for the club,

     

    the squad and the fans – even if the last year

     

    has made me cynical about believing

     

    anything I hear.”

     

     

    Someone should tell the fat muppet that they are still under a transfer embargo from the spl as they have no audited accounts.

  15. CQN Book Club –

     

     

    Currently reading Irvine Welsh’s SKAGBOYS, the prequel to Trainspotting.

     

     

    So far so good. I am thoroughly enjoying it. Welsh’s sense of dialogue is astounding.

     

     

    Any fellow CQNers read it?

  16. Well if Barcabhoy is correct the ‘nuclear’ news will be worth the wait!!!

     

     

    I am getting very impatient waiting to hear what they have really done cos at the minute it does just seem they are getting away with cheating on a major scale!!

     

     

    A post that made me chuckle last night from an Aberdeen fans forum about the transfer embargo being overturned at ipox, something like “don’t ran*ers realise this is like winning the bingo on the Titanic?”

  17. The wheels on the bus go round and round

     

    Round and round, round and round

     

    The wheels on the bus go round and round

     

    All through the town.

     

    (Roll hands over each other)

     

     

    The wipers on the bus go “Swish, swish, swish,

     

    Swish, swish, swish, swish, swish, swish”

     

    The wipers on the bus go “Swish, swish, swish”

     

    All through the town.

     

    (Put arms together in front of you and’swish’ like windshield wipers)

     

     

    The door on the bus goes open and shut

     

    Open and shut, open and shut

     

    The door on the bus goes open and shut

     

    All through the town.

     

    (Cover eyes with hands on ‘shut’ anduncover them on ‘open’)

     

     

    The horn on the bus goes “Beep, beep, beep

     

    Beep, beep, beep, beep, beep, beep”

     

    The horn on the bus goes “Beep, beep, beep”

     

    All through the town.

     

    (Pretend to honk horn)

     

     

    The gas on the bus goes “Glug, glug, glug

     

    Glug, glug, glug, glug, glug, glug”

     

    The gas on the bus goes “Glug, glug, glug”

     

    All through the town.

     

    (Pretend to fill tank using pointer finger as gas nozzle)

     

     

    The money on the bus goes “Clink, clink, clink,

     

    Clink, clink, clink, clink, clink, clink”

     

    The money on the bus goes “Clink, clink, clink”

     

    All through the town.

     

    (Pretend to put money in cash box on bus)

     

     

     

     

    How’s the weather navanbhoy ? – it’s lovely over here

  18. Just seen now that although the CVA offer has no figure Duff&Duffers PR now indicating it is 8-9p in the pound.

     

     

    Terms yesterday showed thst once Duff&Duffer took their fee it would be a 1p.

     

     

    I was told last night at least one debenture holder is threatening legal action.

  19. The Sun By IAIN KING

     

     

     

    RANGERS this morning run the risk of being booted OUT of Scottish football.

     

     

    SunSport can reveal the SFA will today hold an emergency Hampden summit in the wake of yesterday’s Court of Session decision to scrap the 12-month transfer embargo on shamed Gers.

     

     

    There is growing unrest among SPL clubs that Gers could yet wriggle free of real punishment for failing to pay £14.3million worth of taxes during the disastrous Craig Whyte reign.

     

     

    Lord Glennie’s ruling that an SFA panel imposing a signing ban on Gers was unjust now has FIFA breathing down the necks of Hampden bosses.

     

     

    SunSport understands SFA chief Stewart Regan will head a meeting of the SFA board and their legal advisers.

     

     

    After their transfer embargo punishment was trashed, there are fears the Court of Session decision leaves Lord Carloway with little room for manoeuvre should the SFA choose to appeal.

     

     

    One of Scotland’s top legal eagles has had his judgement called into question.

     

     

    A Court of Session statement stressed Lord Glennie felt the SFA panel should have looked at the tariff of punishments they had available and NOT invented one like the transfer embargo.

     

     

    That advice points to the highest sanction available in the SFA statutes — a £1MILLION fine and termination of membership.

     

     

    That is the real risk Rangers are taking now if Lord Carloway has to hear the case again.

     

     

    He has effectively been told by another Supreme Court judge his original verdict was wrong. Now he could take the view there is no point in fining a club with no money £1m.

     

     

    And he could decide termination of membership of the SFA — or suspension for 12 months — is the only way to go.

     

     

    When he assessed the case at the appeal, Lord Carloway pored over the decision of the SFA panel that consisted of QC Gary Allan, Raith Rovers director Eric Drysdale and broadcaster Alistair Murning.

     

     

    He pondered the matter alongside ex-Partick Thistle chairman Allan Cowan and Spartans supremo Craig Graham.

     

     

    They concluded the SFA panel had looked at the punishments available and felt they were, at one end, too extreme and, at the other, not extreme enough.

     

     

    Lord Carloway felt it was competent for the panel to give a proportionate penalty to a club who have not paid their taxes and gained an advantage from that.

     

     

    SFA articles state: “The Panel is empowered to make whatever sanctions it feels are appropriate.”

     

     

    Their verdict, though, has now been thrown out and the SFA — who also have the power to kick Gers out of the Scottish Cup — have three weeks to appeal, while the other looming cloud is the fury of FIFA.

     

     

    Football’s ruling body are angry the game has been dragged into the courts and could exert pressure on the SFA to deal with Rangers.

     

     

    UEFA placed heavy pressure on Sion when they protested about the decision that kicked the Swiss club out of European football to allow Celtic back in.

     

     

    Sion went to a Swiss court, who said the club should be reinstated in European football despite their breaking of a transfer embargo.

     

     

    Sion then threatened to sue UEFA president Michel Platini for breaching his powers.

     

     

    That infuriated the European bigwigs, who countered by vowing to ban Swiss clubs from Europe and kick their international team out of the game.

     

     

    If the SFA are faced with those sort of penalties for not bringing their clubs to book then they could yet kick Gers out of football for a year — or for good.

     

     

    These are the nightmarish issues facing SFA supremo Regan, his board and their lawyers.

     

     

    The various scenarios could play out this way;

     

     

    The SFA accept yesterday’s court decision, even though they find it wholly unpalatable.

     

     

    The SFA appeal and win, then the penalty they see as fair stays in place, and Gers can’t sign any players over 18 for a year.

     

     

    SFA beaks appeal and lose and see the transfer embargo scrapped. It is understood there is a deep anger inside Hampden over that prospect because they feel the punishment should not be neutered.

     

     

    The SFA appeal goes back to Lord Carloway’s panel and he opts for a different option — like booting Rangers out of the Scottish Cup or even suspending their membership of the SFA.

     

     

    The final scenario is the SFA don’t act then FIFA could get involved. The SFA would then bid to convince Gers the penalties for Scottish football are too great and they should accept the transfer embargo.

     

     

    SFA statutes will be examined today as it was felt they didn’t have the proper wording to force Gers to go to the Court of Arbitration for Sport in Lausanne first instead of a civil court.

     

     

    FIFA will today begin to turn the heat on the Hampden hierarchy and if our whole game faces a beating then the threat of expulsion of Rangers will truly come into play.

  20. By DAVID FRIEL Published: Today at 00:12 The Sun

     

     

     

    VIDAR RISETH has urged Celtic to break the bank to sign Norwegian

     

     

     

    The ex-Hoops star rates the 19-year-old Rosenborg midfielder as the best player to come out of his homeland in years.

     

     

    Celtic boss Neil Lennon has put Henriksen at the top of his summer wish list and is prepared to splash out at least £2.5million to land him.

     

     

    Riseth insists that would be money well spent because he is convinced Henriksen will fetch MEGABUCKS in years to come.

     

     

    He told SunSport: “Markus is the biggest talent in Norway right now and can become a star of the European game.

     

     

    “He’s only 19 but already he is too good for Norwegian football.

     

     

    “Celtic would probably need to pay around £2.5m to get him but I believe that is a very good price — a bargain.

     

     

    “In years to come he will be worth a lot more. Celtic could keep him for two or three seasons and then make a lot of money on him. Markus will get better as he gets older. He will play more international games and his value will increase.

     

     

    “Celtic would be getting a first-team player who would improve their side immediately. But he could also make the club millions in the future.”

     

     

    Riseth is close friends with Celtic assistant Johan Mjallby but stayed tight-lipped on whether he has given the Swede a reference on Henriksen.

     

     

    But the playmaker ticks all the right boxes for Celtic — he is young, has massive potential and could command a huge sell-on fee in years to come.

     

     

    Riseth — who played with the likes of Henrik Larsson and Lubo Moravcik during his three-year stint at Parkhead — says he’d walk into the Celtic team.

     

     

    He said: “Markus would go straight into the side. There is no doubt about that. He is already good enough.

     

     

    “Lenny would have no concern about playing him immediately. He is Rosenborg’s best player — in fact he is the best in Norway.

     

     

    “Celtic would not have to worry about him adapting to a new club. Markus is young but he is top class. He is ready to make the step up.

     

     

    “Markus is so versatile. He can play in central midfield, wide or in the position behind the striker.

     

     

    “He is strong, fast and skilful. He scores and creates goals — the complete player.”

     

     

    Rosenborg chief Hroar Stjernen told SunSport yesterday that the Norwegian giants are in no rush to sell Henriksen and will demand top dollar for him.

     

     

    Several European teams are tracking the teenager — six months after a move to Belgian outfit Club Brugge collapsed at the 11th hour.

     

     

    Celtic face competition for his signature but Henriksen is keen to talk to the Hoops and Riseth, 40, insists it would be the perfect match.

     

     

    He said: “Markus is still young but has emerged at Rosenborg over the last two years and has now played at a high level.

     

     

    “Brugge tried to sign him in January and we thought he would leave. The offer was around £2m but Markus didn’t want to go.

     

     

    “I am glad he stayed because he could play with an even bigger club.

     

     

    “He faced England at the weekend and performed well.

     

     

    “He is a very technical player. He is great on the ball and has good skills.

     

     

    “The sky is the limit for him and he would a massive success at Celtic.”

     

     

    Riseth would love to see seven-times capped Henriksen wear the Hoops — but admits he would be devastated to see him leave his beloved Rosenborg.

     

     

    He revealed: “I work for one of Rosenborg’s sponsors and I would like him to stay because we want to win the league title and he is vital to achieving that.

     

     

    “But if he does go, then I’d tell Markus to choose Celtic. He deserves to play for a club that size.”

     

     

    The Hoops have also been linked with a move for another rising star of the Norwegian league — Lillestrom striker Bjorn Bergmann Sigurdarson.

     

     

    English sides Everton, Wolves and Sunderland are chasing the 21-year-old Icelandic star and Riseth insists he is another huge talent.

     

     

    He added: “He’s quick, strong and would be a good addition to the Celtic squad.

     

     

    “Along with Henriksen, he is one of the very best players in our league.”

  21. This mornings DR from Jingle….

     

     

    THE SFA were last night threatening to shut Rangers down for good after the club’s administrators backed them into a corner in the Court of Session.

     

    Despite successfully overturning a hugely controversial 12-month transfer ban, Duff and Phelps also triggered a full-scale FIFA probe into the escalating Scottish crisis.

     

    News of Judge Lord Glennie’s decision to rule against Hampden’s top brass has infuriated the game’s governing body in Switzerland.

     

    And, as a result, last night FIFA were preparing to wade into the saga by threatening to go to war with the entire Scottish game unless Rangers’ bungling administrators are forced to back down.

     

    FIFA’s furious response – almost identical to the stance they took during a courtroom battle involving Swiss side Sion last season – could see Craig Levein’s national side booted out of the next World Cup and Celtic denied a £15million ticket into next term’s Champions League.

     

    Motherwell could also be robbed of their chance to secure a spot among the European elite while Dundee United, Hearts and St Johnstone have been left to sweat over their own money-spinning places into the Europa League.

     

    Very quickly the courtroom triumph was beginning to look like the hollowest of victories imaginable for Duff and Phelps, who may have left the SFA with little choice but to dish out an even heftier punishment for the rule breaches carried out by the Craig Whyte regime.

     

    In fact, fears were growing inside Hampden last night that crisis-ravaged Rangers may have to be sacrificed, and have their SFA membership terminated, in order to spare the rest of the national game from FIFA’s wrath.

     

    In an official statement from Switzerland, the game’s governors said they had not yet been informed of the row by the SFA.

     

    But a senior source inside Sepp Blatter’s Nyon bunker told Record Sport FIFA are now prepared to fight tooth and nail, just as they did last season when Sion famously rebelled against the game’s authorities over their place in the Europa League.

     

    And a spokesman warned: “In such a case, FIFA will ask the Member Association to take action so that the club withdraws its request from the ordinary courts.

     

    “As a rule, in case a club is seeking redress in front of ordinary court, the Member Association shall take action to safeguard the principle laid down in art. 64 par. 2 of FIFA Statutes, which shall be, in view of art. 64 par. 3 incorporated in the Member Associations’ Statutes.

     

    “FIFA will now closely monitor the situation so that the issue is resolved as fast as possible.”

     

    Lord Glennie judged yesterday that the SFA’s judicial panel had acted outwith its own remit when it hammered Rangers with a year long ban from signing players. He also ordered the matter be placed back in front of the SFA’s appeals tribunal for urgent review.

     

    But, having insisted that Whyte’s mishandling of affairs were so shameful that only match fixing would have been looked upon more seriously – the SFA have now been backed into a corner with almost no room to manoeuvre.

     

    The decision to impose a 12-month embargo was seen as a compromise and a way to avoid having to take the ultimate sanction of booting Rangers out of the game.

     

    But now, unless Duff and Phelps or Charles Green accept the original sanction the same appeals tribunal will have to choose between softening the punishment to include a possible ban from next term’s Scottish Cup – or taking the ultimate hard line by ripping up the club’s membership and banishing them into the wilderness.

     

    But all of that was lost on the administrators yesterday who seemed to believe they had struck a blow for justice in the Court of Session.

     

    Paul Clark said: “We welcome the decision by Judge Lord Glennie today that vindicates the Club’s position that the original SFA judicial panel tribunal and the appellate tribunal acted beyond their powers in imposing a transfer embargo on the Club.

     

    “The costs for this legal action have been awarded against the SFA and it is very regrettable that court action was required.

     

    “We, and the SFA, will study the full ramifications of the judgment when it is published and either side has 21 days to decide the next course of action or whether to appeal.”

     

    An SFA spokesperson later said: “We are surprised by today’s verdict at the Court of Session, especially since the original sanction against Rangers FC was imposed by an independent panel chaired by a leading QC and upheld by an appellate tribunal chaired by a Supreme Court judge.

     

    “We will now consider our position with our legal advisers before making any further comment.”

     

     

    Mac

  22. The Record

     

     

    Rangers in crisis: SFA could be forced to shut Ibrox club down for good

     

     

    May 30 2012 By Keith Jackson

     

     

     

    ibrox stadium large

     

     

    THE SFA were last night threatening to shut Rangers down for good after the club’s administrators backed them into a corner in the Court of Session.

     

     

    Despite successfully overturning a hugely controversial 12-month transfer ban, Duff and Phelps also triggered a full-scale FIFA probe into the escalating Scottish crisis.

     

     

    News of Judge Lord Glennie’s decision to rule against Hampden’s top brass has infuriated the game’s governing body in Switzerland.

     

     

    And, as a result, last night FIFA were preparing to wade into the saga by threatening to go to war with the entire Scottish game unless Rangers’ bungling administrators are forced to back down.

     

     

    FIFA’s furious response – almost identical to the stance they took during a courtroom battle involving Swiss side Sion last season – could see Craig Levein’s national side booted out of the next World Cup and Celtic denied a £15million ticket into next term’s Champions League.

     

     

    Motherwell could also be robbed of their chance to secure a spot among the European elite while Dundee United, Hearts and St Johnstone have been left to sweat over their own money-spinning places into the Europa League.

     

     

    Very quickly the courtroom triumph was beginning to look like the hollowest of victories imaginable for Duff and Phelps, who may have left the SFA with little choice but to dish out an even heftier punishment for the rule breaches carried out by the Craig Whyte regime.

     

     

    In fact, fears were growing inside Hampden last night that crisis-ravaged Rangers may have to be sacrificed, and have their SFA membership terminated, in order to spare the rest of the national game from FIFA’s wrath.

     

     

    In an official statement from Switzerland, the game’s governors said they had not yet been informed of the row by the SFA.

     

     

    But a senior source inside Sepp Blatter’s Nyon bunker told Record Sport FIFA are now prepared to fight tooth and nail, just as they did last season when Sion famously rebelled against the game’s authorities over their place in the Europa League.

     

     

    And a spokesman warned: “In such a case, FIFA will ask the Member Association to take action so that the club withdraws its request from the ordinary courts.

     

     

    “As a rule, in case a club is seeking redress in front of ordinary court, the Member Association shall take action to safeguard the principle laid down in art. 64 par. 2 of FIFA Statutes, which shall be, in view of art. 64 par. 3 incorporated in the Member Associations’ Statutes.

     

     

    “FIFA will now closely monitor the situation so that the issue is resolved as fast as possible.”

     

     

    Lord Glennie judged yesterday that the SFA’s judicial panel had acted outwith its own remit when it hammered Rangers with a year long ban from signing players. He also ordered the matter be placed back in front of the SFA’s appeals tribunal for urgent review.

     

     

    But, having insisted that Whyte’s mishandling of affairs were so shameful that only match fixing would have been looked upon more seriously – the SFA have now been backed into a corner with almost no room to manoeuvre.

     

     

    The decision to impose a 12-month embargo was seen as a compromise and a way to avoid having to take the ultimate sanction of booting Rangers out of the game.

     

     

    But now, unless Duff and Phelps or Charles Green accept the original sanction the same appeals tribunal will have to choose between softening the punishment to include a possible ban from next term’s Scottish Cup – or taking the ultimate hard line by ripping up the club’s membership and banishing them into the wilderness.

     

     

    But all of that was lost on the administrators yesterday who seemed to believe they had struck a blow for justice in the Court of Session.

     

     

    Paul Clark said: “We welcome the decision by Judge Lord Glennie today that vindicates the Club’s position that the original SFA judicial panel tribunal and the appellate tribunal acted beyond their powers in imposing a transfer embargo on the Club.

     

     

    “The costs for this legal action have been awarded against the SFA and it is very regrettable that court action was required.

     

     

    “We, and the SFA, will study the full ramifications of the judgment when it is published and either side has 21 days to decide the next course of action or whether to appeal.”

     

     

    An SFA spokesperson later said: “We are surprised by today’s verdict at the Court of Session, especially since the original sanction against Rangers FC was imposed by an independent panel chaired by a leading QC and upheld by an appellate tribunal chaired by a Supreme Court judge.

     

     

    “We will now consider our position with our legal advisers before making any further comment.”

  23. Dontbrattbakkinanger on

    Why have the gorgeous rollin’ and tumblin’ golden honey locks of wee Kate Humble disappeared off Springwatch?

  24. Electronic Tims ‏@ETimsNet

     

     

    We hear that further talks have taken place with Gordon. Patience wearing thin on Forster decision.

  25. There is one major difference between the Sion and Rangers sisuations.

     

     

    Sion were disputing a sanction imposed by FIFA, while Rangers are in dispute with the SFA.

     

     

    Sion had the backing of the Swiss FA in there fight with FIFA, which is why the Swiss FA were in danger of being hammered themselves, in that they initially refused to take action agains their member club.

     

     

    The SFA will crack down on Rangers. They have no choice as they are the ones being undermined, and they cannot afford not to act.

  26. Someone asked earlier where the got the expert for NNS last night she was introduced as a debt recovery expert, what gets me about all this is that they agreed her and a proffesor of business that this would be the best available, 9p in the pound.

     

    Can someone explain to me why Ibrox the training ground is valued at >100m but in a liquidation situation less than 5m baffling to me