Scottish Premier League chief executive, Neil Doncaster, yesterday told the BBC that no provision existed for a liquidated SPL club to reconvene as a Newco FC at the bottom of the Scottish Football League (reported at 1821 on their crisis timeline).
This is being grossly misreported to suggest that the only opportunity for a Rangers Newco to phoenix is to slip straight back into the SPL – completely and utterly untrue.
There is also no provision for a Newco FC to slip into the SPL. Newco FC would be able to apply for membership to the Scottish Football League (where they would unquestionably be accepted) or the Scottish Premier League.
The default position when a club goes out of business in the Scottish Premier League is that the club that finishes bottom of the league at the end of the season escapes relegation. As things stand, Dunfermline would remain an SPL club and Ross County would be promoted.
No moral, legal or football administrative argument has been made to suggest that Dunfermline will be relegated to allow a new club entry into the league. None whatsoever. Dunfermline Athletic will remain a SPL club if Rangers are liquidated.
The various parties seeking to phoenix Rangers would get the lawyers onto securing a stadium, scouting some part-timers, buying a ticketing system, applying for entry into the Scottish Football League and finding cash to employ stadium stewarding. This could take weeks but is more likely to take months or even years.
Football needs to get used to this idea.
Neil Doncaster did not suggest a Newco FC applying for entry into the SPL had any primacy over an application to the SFL. In fact, an application to the SFL would not have to overcome the unfortunate objections of Dunfermline Athletic – who pay their BBC licence fee and are worthy of due respect.
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football news
http://www.express.co.uk/posts/view/306728/Celtic-move-to-tie-down-Forster?
JF
What’s in it for Craig Whyte? What money can he get from the prospective buyers that HMRC will not chase as he failed to pay VAT and PAYE when he was in charge?
Also- who is getting sufficient funds to Paul Murray in the past 2 weeks? Funds he came nowhere near obtaining in the past 6 months.
henrick
unless a buyer comes in
the next 78 hrs LIQUIDATION is on the cards
why do you think the timabhouy is staying up this late
i dont want to go to sleep but i read every post
so it takes me time to catch up
Lennon n Mc….Mjallby:
The administrators have no intention of liquidating the club. They are looking for someone to buy it as one package. Murray and Co will get their hands on enough to give Whyte his golden handshake … and that’s all they have to find.
The company Rangers PLC will die. But Rangers FC could very well live on.
off to bed.
some serious conundrums for the nightshift..
were does the sun go at night ?
who built the pyramids ?
does anyone know a handsome hun ?
setting free the bears on 8 March, 2012 at 01:02 said:
Also- who is getting sufficient funds to Paul Murray in the past 2 weeks? Funds he came nowhere near obtaining in the past 6 months.
Agreed, I’m sure i read somewhere that he said it would be hard to put funds in with this tax liability hanging over Rangers.
No one is buying Rangers right now.
Rangers will be liquidated.
Assets then sold off.
A NewCo will be formed.
Maybe even more than one.
One of them will probably be tagged New Rangers, whatever its name is.
They will struggle for a time but they will come back.
Hopefully without the bad baggage.
I look forward to the future Glasgow derbies.
pigalle
james emperor of ice cream
listen calm down , 78 hrs to go
the end is nigh the timabhouy
has recieved the news in advance
LIQUIDATION is on the cards
Celtic will become like Rosenburg..winning Norwegian league then having a good run at Champions league most years. That’ll do me…
Timabhouy on 8 March, 2012 at 01:03 said:
henrick
unless a buyer comes in
the next 78 hrs LIQUIDATION is on the cards
why do you think the timabhouy is staying up this late
i dont want to go to sleep but i read every post
so it takes me time to catch up
share
LoL, tell me about it mate, I’ve had assessments in college and I’ve meant to be studying and I haven’t done anything because of the biggest story in Scottish footy lol.
‘crushed nuts?’ ‘Naw, Layringitis!’ on 8 March, 2012 at 00:59 said:
the man (or woman) or woman, thanks Reg
~~~~~~~~~~~~~~~~~~
Hahaha,magic. ;-)))
Ok.James cheers for the reply n get some kip yer drivin us awe daft ;)
Lads peace out I’m off, 1 minute I’m buzzing with this and then Mr Forrest comes along and depresses me lol.
Goodnight boys and God Bless.
@CelticNetwork11: @MaleysBhoys As far as the Head of the SPL it’s nonsense. They are trying to pave the way for Newco in the SPL. #NoToNewco
@edwardrice1: @MaleysBhoys On Monday Neil Doncaster stated nothing can stop new contract going ahead, even RFC being relegated to 3rd Div or liquidated
henrick
good luck at college
but i bet you find it hard to read
every post
unfortunately i dont miss a thing or a post
taking into consideration
god bless her majestys revenue & customs
Auld Neil Lennon heid
Well put (superb)
This whole case from the FTT to RFC in administration is like a spiders
Web and so easy to get each stage mixed up .
As I said previous when I saw the blog that something major had occurred
That I had missed out on some technical point of law that would allow thems
To avoid all their debts and carry on if nothing had happened.
Then I remembered to start at the first point cash!
They have not got a pot ta piss in so cannot pay players or creditors .
Second point H.M.R.C….paye,NI.and the FTT
Third point Craig whyte and ticketus cash for tickets against main asset
Ibrox.
And for Paul Murray to put bid in is he going to put a load of cash into
Bank account with no Gaurantee like fergus done to halt liquidation then
Purchase all the assets and cover the FTT.
Just will not happen IMHO
If you have anything to add or a better explanation please post
Havinngapartywhenthehunsdiex csc
JF
“The company Rangers PLC will die. But Rangers FC could very well live on. ”
Unfortunately, I have to head to my bed now, but…..
Which authorities (HMRC, SFA, SPL) are going to accept that Rangers PLC are dead but that part of them which is Rangers FC gets to live on as it had nothing to do with all the bad things?
We were using the reverse of that argument to explain to thick huns why we still continued as an incorporated body when Fergus changed the company name. How can Rangers manage to persuade anyone that they are two separate entities? Will they use the Sinn Fein/IRA indivisibility argument or some variation of this?
I cannot help but feel that we are experiencing last minute jitters and I speak as someone who always had dark suspicions as to what forces would ride in to help them.
Thus far all I’ve seen are hot air politicians who have no intention of acting on their words, a disgraced former director with no access to his tainted S. African money, and a “clean” director who is fronting a bid with no discernible source of serious money.
As you say, it may all come true but I need a bit more flesh on this ghost before I become scared by it.
Goodnight
good night you bunch of wimps
i always have the last post
get it
last post
remember you heard it from the timabhouy first
LIQUIDATION IN 78 HOURS :::::::::::::::::::::::::::
Why can’t they be served a winding up notice?
KILTBA
get to sleep !
Winding up Petition? Why not?
i mean kitailba
get to bed i get the last post
Are they still alive?
Surely someone would have had the decency to have a rabid dug pit doon bi noo!
Kitalba
Only 1 stage at a time
can only be served winding up order under normal trading
i.e refusal to pay vat.etc
If I understand correct ?
Jam67
jungle jam67
They have already done that.
always taking into consideration
god bless her majesty and her revenue and customs
Kitalba
And RFC went for administration
Minty must be filling his pamper at the thought of being sued by King! CW might come across as a swivel-eyed maniac with the conscience of a bowl of soup but my guess is that he’s got a cunning plan to extricate ranjurz from all their debt, provide Ally with substantial multi-million pound transfer kitty and rebuild the stadium to make it fit for the 21st century. Here’s how he’ll do it, oops here comes nurse with my pills, night, ni…
Hope James F’s been at the winding up…..
Or humble pie on the menu instead of jelly n ice cream :(
crushed larngytis
nurse medication
funny
To get away from Rangers ( if only )…..
Just seen the Messi goals from earlier tonight.
Wow. Fantastic.
Those lobs…..Larssonesque
pigalle
G’night all bhoys and ghirls wherever you are.
Here’s a few songs if you’re interested.(They’re good.Honest.)
GLASGOW’S GREEN AND WHITE!
http://www.youtube.com/watch?v=EX8u8ptd0Q4
http://www.youtube.com/watch?v=I3h3GN4adzE
http://www.youtube.com/watch?v=C3rMXXd6FE0
FOREVERANDEVER!!!
For those worrying about Rangers sliming their way out of this read this from Phil MacGhiollabhain
http://www.philmacgiollabhain.ie/the-battle-for-the-big-house/
Tomcourtnry
Do not think James Forrest is at the wind up
JF is 1of the best poster’s on here with BRTH and the battered bunnet
This whole case with the rANGERs is so complex that you would need to be
A legal genius to follow what was happening .
Like myself we hear that the Hun is gone but that thought always return’s that they will get out of it some how.
And my heid has been bursted a few nights on here will all the rumours
Jam67
jungle jam67
Correct and in admoinistration the administrators must act with the best interests of the creditors in mind (I think) If there is a Breach of duty by the administrators cant they be then personally liable for litigation costs that may be raised by a very concerned and powerful creditor who might wish the company wound -up in the best interests of the creditors. (or have I got that wrong) I’m no expert, I’m only asking from what I have been reading and I’m not even sure if those I have been reading are qualified to state half of what they pontificate.
Bottom line mate… a poor devils advocate.
DD / Celtic should buy their stadium, lease it back to them and as landlord, control its usage. Specifically, financial charges around sectarian singing and allocation of tickets for derby games after newcos 3 years (minimum) working their way up from SFL3
Just managed to get my iPad3 on pre-order, delighted been saving for a while now & was online for a few hours trying to get the AppleStore to work!
By the time it arrives on the 16th, the huns may be dead.
This has just been brilliant – I wish my old man was here to share this momentous moment in footballing history.
hh
bjmac
jungle jam67
Did Rangers go for administration, or did the taxman shove him into administration
To cheer everyone up, I can tell you I’ve been reading a mental amount of stuff on this, and it seems to me that there are a number of issues which would need to be resolved before what I suggested could come to pass.
This whole deal depends on three principal things.
1) Craig Whyte, and what his intentions are
2) How much the club Rangers is worth and who has the money
3) The Ticketus deal … which is the big one
As the floating charge holder, it is Craig Whyte’s job to decide on whether any agreement is made or not. He holds the cards as the secured creditor. In fact, he holds more cards than he would if he was merely the owner of the club.
Allow me to explain.
The owner of a company who faces serious debts can be the victim of a winding up petition if the secured creditor is unhappy. But when the owner IS the secured creditor, he is safe from such a thing.
What does this mean in layman’s terms? Well, it means that unless Craig Whyte’s claim on the stadium, on the training ground and on the members of the first team squad which he owns is satisfied, he can actually close off all avenues of rescue, until the club collapses like a house of cards.
My scenario was spooky, wasn’t it? But it only works – it ONLY works – if Whyte, Murray, Ticketus and others can all come to an agreement on the way forward. What we have right now is a bizarre triangular cluster-feck of world class proportions, whereas none of these people trusts the others.
Ticketus do not trust Craig Whyte, although he claims he’s looking out for them. Paul Murray wants Ticketus and Craig Whyte gone, Neither Ticketus nor Craig Whyte will simply roll over for Paul Murray. Throw Dave King into the equation, along with David Murray and we have a huge mess, a potential three, four or five way battle for control of Rangers.
How much is Rangers worth? That’s a complex question. I would say they are worth nothing right now, because of floating charges, potential debts, Ticketus income etc. All of that makes the club, as a whole, worthless.
Yet it’s not quite true, is it? The stadium is owned by Whyte, and he can use it if a football team exists and is willing to pay him rent. Say Rangers name and history and players were bought by someone else. They could play at Ibrox, with Whyte collecting rent. If Murray says no, then where does his version of Rangers play? And what does Whyte do with an empty stadium?
Who blinks first in that scenario?
Ibrox could be leased to NewCo Rangers for a reasonable £3 million a year. This would guarentee Whyte a nice income stream for the rest of his life and enable him to live the kind of lifestyle which has eluded him so far. Will he simply walk away from that kind of deal? I think not.
So, bearing in mind that a buyer might not own the stadium, what would they be buying? How much is it worth? The best way to do it would be buy Whyte out entirely. Put a price on his “floating charge.” Millions. Then you have to think about buying out Ticketus. Millions more, or your whole project is worthless.
I would suggest a buy-out could cost as much as £30 million … before a single creditor has been satisfied. Before a player is bought. Before infrastructure is improved one iota. No European football for three years means cutting costs drastically.
Does the consortium have not only that kind of money, but the money to run Rangers at a loss, year on year? If Craig Whyte is still involved, will they be able to sell season tickets, Ticketus or not?
Will Craig Whyte go voluntarily? Would you? He is one of two things; a guy who believes he was doing right by Rangers, and still is, or he is a crook who went there to bleed them dry. In the first instance, why would he leave now? Why would he not believe that, with his reputation and standing on the line, not to mention his money, that he has a right and responsibility to hang around? He clearly has no love of the people he’s dealing with, like Murray and co, and believes they ran the business into the ground. So would he sell to them? Probably not.
And if he’s a crook, why would he simply walk away and leave it all behind ,when the big prize is right there in front of him? He won’t.
Finally is the elephant in the room, Ticketus, not HMRC. With them being owed anywhere up to £50 million in combined sales, they will not walk away either, and that’s where things become tough for people.
Can Murray repay Ticketus what they are owed? Can he come to a deal with them? At a bare minimum he would need to find £24 million just to get them off the scene without a bloody, brutal court battle ….
Some of you have mentioned the SFA and the SPL.
Well, here’s where the Real Fun comes in, and sporting integrity comes to the fore. You might excuse a team which has cheated the tax man, but a team which has with-held documents, cheated other clubs, robbed them of revenue, starved them of success, committed fraud on an industrial scale and basically brought the entire game in this country to the brink of death … is excusing them all of that, and allowing them back into the SPL, really a viable option?
Do I think they will get away with this?
They could. All my posts earlier were saying was they could.
Do I think they will? Christ, Hell, no.
They are as dead as yesterday’s fish.