I’ve spoken to a few Rangers fans over recent months, the base line of acceptability has been redrawn many times. If you read back on what was presented as reality on 13 February, when Craig Whyte announced that while it was “business as usual” he applied to the court for a 10 day period to appoint an administrator.
Back then, administration was abhorrent, but suggestions of liquidation were regarded as outrageous. On 22 February Celtic Quick News asked questions about Improper Registration of Football players, was it possible that Rangers results would have to be re-written as 3-0 defeats for a decade or more?
In March Rangers director (still, I believe) Dave King sent out a new baseline, liquidation was inevitable but there was no question that titles would be taken off Rangers. Even this concession to liquidation was disputed by the Blue Knight and Duff and Phelps. Publicly, both still hold to this line, although Duff and Phelps use some creative ideas to get there.
Most now know that liquidation is inevitable. A few understand that the SPL inquiry into player registration is likely to result in five or more league titles being reallocated to Celtic, but I don’t hear anyone accepting the reality of the situation.
Rangers don’t have a buyer, primarily as the administrators don’t have a stadium they can sell. Even if they try to remain in administration for next season, Ticketus own the majority of their income. It will cost countless millions to pull a deal together, much more than the £11.2m Bill Miller considered putting on the table, and no one is coming up with that kind of money.
In the unlikely event these problems are resolved, whatever club emerged would have to deal with the fallout from players refusing to join a Newco and becoming free agents, football fines debts from Oldco, SFA penalties, Newco penalties if preferential treatment is provided in order to get them into a higher league, and SPL penalties for Improper Registration of Players.
There are two simple solutions. Form a new club, ask to share Firhill or Love St – or better still, rent Cathkin Park (reset ambition for Rangers as the new Third Lanark), and apply for entry to the Scottish Football League. Alternatively, co-opt a lower league club, maybe Airdrie United could help, rename it and spend however many years as it takes trying to acquire whatever parts of Ibrox survives liquidation.
This is a controlled and predictable way forward, a concept not delivered by Duff and Phelps, totally in the control of whoever wants to harvest fallout from the demise of the Rangers brand.
You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.
The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.
1,122 Comments- Pages:
- «
- 1
- ...
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- ...
- 30
- »
CultsBhoy loves being 1st forever & ever on 9 May, 2012 at 16:03 said:
The ultimate kids role model.
That´s what I thought about when I heard your story last night ;-)
Hail Hail
falkirkbhoy
Poor wee things what chance do they have ?
HAil Hail
Gordon_J backing Neil Lennon on 9 May, 2012 at 15:52 said:
I suppose it depends where CW and Ticketus are in this. It said are about to start legal proceeding. If they are still in cahoots is this just a ‘red herring’ to allow a delay for the Friday deadline or to put people off that they are still working together.
In real terms who owns the floating charge does not stop the sale of assets if it is a newco deal it will just establish who the secured creditor is. However might stall anyone buying until later.
I am assuming that the mystery buyers are ‘pals’ of CW that will launch a CVA bid that they know is doomed, liquidate and then go down the newco route.
Not sure if Kennedy/BK are still in this or not as it has gone very quite on that front. Kennedy is in the USA at present
David Murray sold Rangers to Whyte for £1 one year ago this month.
David Murray convinces the MSM that he was duped. A man who has done many multi million pound deal was duped? Doubt it.
The FFP rules came into force this year for UEFA competition.
Rangers have not released any accounts since Murray left.
No suprise really. He had been cooking the books for years and couldn’t anymore.
His allies at the BoS were no longer in place and he was running out of cash at his MIH business. He just couldn’t aford to throw anymore cash at it. The Manchester riots were his last hope for a buyer. You remember his disgust after that final? He knew the last chance for anyone to buy the club had gone and 3 years later he dumped it on the only man stupid enough to take it on for a £1. A £1!!!!
No way would he have taken that kind of loss if he could:
A: Recoup some cash
B: Keep the club going himself and make his dough back
C: Sell to someone who was willing to give him proper cash
Murray had his scape goat and got out.
This will change football and make it more likely for us to make inroads in Europe.
http://en.wikipedia.org/wiki/UEFA_Financial_Fair_Play_Regulations
We are self sufficient. We don’t need anyone else. We do need punters to come through the gates each week though. Rangers need to live within their means from now on.
If they get a multi million pound owner he first needs to pay off the debt. He then has to get the club back to the level the fans expect. I would say this was near impossible with the new rules.
Even if Rangers were a Newco this would still be a problem. Dark days ahead for Rangers no matter what happens.
Unless???
Maybe if they merged with another club. Even then it would need to be a major SPL club.
Hearts? They are in debt too.
Motherwell? Owned by the fans these days.
Any others? St Mirren? Maybe?
Whatever option is left to our friends across the city they are rapidly decreasing by the day. I don’t see that they will play SPL football at all next season unless they merge or buy another SPL club. Is that possible? I’m not sure at this moment unless Rangers are wound up and they do an Airdrie Utd and buy a club like Clydebank.
Who was that guy at Windsor Park again?
Hmmmmmm interesting………..
LB
Cultsbhoy
On book valuation by surveyors was allegedy £110m ,however more aware and astute posters on here suggested more realistic value of £40m with possible annual rental value of £4m as sports stadium.
Murray park is on a long lease from rugby club trustees,never a chance of development on that site,liable to flooding and infrastructure problems
CultsBhoy,
There is plenty empty office/ warehouse space around Ibrox. It’s not really a great location for flats unless the whole area is massively regenerated – and that’s moonbeams territory. There’s an Asda just up the road so it’s not even ideal for a supermarket. And there are two major shipping centres within a few miles.
The facade is also listed I think, which would make any redevelopment expensive. Then there’s the reports of asbestos …
And can you imagine the hun hoards reaction if the builders moved in??
Awe Naw
I’m actually more of a cultured Jose Mourinho type. :-)
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 9 May, 2012 at 16:12 said:
falkirkbhoy
Poor wee things what chance do they have ?
————————————————————————
hundreds of thousands of them if you believe their claims, yet they are relying on someone else saving them, and complain about anyone who has put in a bid
traditionalist88 on 9 May, 2012 at 14:43 said:
>>>>
Another gangster in the Rachmann mould of ‘landlords.’
Dark Mingwall will just love this cretin!
Cultsbhoy
Mournhio is the lowest scum bag that ever entered football in my opinion.
Choose another one
HAil Hail
Just received one of those random, spam text messages on my British mobile phone it reads, I kid you not:
” Due to new legislation, those struggling with debt can now apply to have it written off. For more information text the word ‘INFO’ or to opt out text stop”
I think I’ll forward it to Bluff and Bluffer.
falkirkbhoy on 9 May, 2012 at 16:05 said:
If a group of kids wearing rangers tops were going round schools in Glasgow singing rangers songs, what would our view be
*8
First thought would be , that’s not a 2013 top :-)
Ron
Gen up I would be worried that the kids would get mugged by Sally or Sandy or both
Hail Hail
I was involved with a Public Sector Leadership programme quite recently. By chance one of the modules was looking at regeneration and it’s impact on the health of communities. We were given a tour of Broomielaw and Govan areas.
An astounding £20 billion has been invested in Clydefront developments with the expectation that it would regenerate areas like Govan- hence BBC relocation, science park etc.
To no avail. In fact we were given graphs of declining property values and a lot of depressing evidence of the failure of the approach in terms of reaping positive individual and community health outcomes.
Hence my views on the potential value of Ibrox..
The fact that the facade is listed only compounds matters.
Take account of asbestos issues-
Not to mention existing and emerging debts..
Murray did well to get shot for a buck?
Awe naw
I look like Jose- I coach like Wenger
http://Www.Deluded.com
Are we back?
Where did the last hour go?
1st? after the power cut.
thenewpodiumcsc
Is the blog broke again or is there a new article???
HH
/Bishop B
COYBIG
Obviously nothing happened for an hour.
the admin on kds saying celtic statement expected, did not elaborate mmmmmmm?
Not going to say ‘cheers’ to Andybhoy in Hibernia,
as last night he was in and out quicker than the
Tennessee Tornado.
did the clocks go back ??
LiviBhoy on 9 May, 2012 at 15:56 said:
Gordon_J backing Neil Lennon
I would suspect it puts Kennedy back in the running for Ibrox. Whyte needs to sell some assets and the stadium is the best asset he has. Training ground will possibly go to a property developer. Any other assets that can be broken off and sold will be too.
It’s almost make or break time.
The administrators have really played a blinder!
LB
share on F’book or Twitter
Is it not the reason that minty park is a training ground is due to the previous owners ability to get planning permission for houses?
Just asking like.
Ability-inability
Bidders Have Cash, Glasgow Rangers – Official Site 16:48
Cash real cash
Getting more desperate by the day.
Right own up who broke the blog?
Keep the Faith!
Hail Hail!
This was bloody hard work for an auld hand
Cibé,enjoy
http://www.youtube.com/watch?v=f4A1xAeHjVY
I must have been asleep when it was announced Mark Wilson was leaving us – good luck to him wherever he ends up.
Great little job there to Wigan.
Dropped off Stephen Oguru Wigan defender.
Good lad fluent in German and French.
Seen wee Shaun on his way to the physio.
Anyone interested now will see prime pices of real estate, possibly going at basement prices. They will not see a viable football team.
So D&P say any potential buyer who wants to exit via the so called standalone CVA has to fund the intervening period between the cash running out and the CVA being agreed.
Should find out soon enough then….
HH
voguepunter:
Yeah, they have cash. But for who? Not the creditors, that is for damned certain. At which point are HMRC going to jump in here and stake a claim? Between the Wee Tax Case and the PAYE cash, they are owed MORE than is in the full creditor pot, and that is undisputed money they are due.
Are they going to wait UNTIL the assets are sold? When they stand to get nothing? Are they having a laugh? Don’t they know that once the SPL sets the precedent, every indebted club in the UK is going to try its luck? If I owned a company right now that owed them cash I would be seriously considering the self same move, and that can’t be good.
If I am baffled at what Celtic are waiting for, I cannot fathom what HMRC and the other major creditors are doing, not for the life of me.
alex thomsonþ@alextomo
@_JMorrison1872 listen: Rangers. Football. Club. Will. Survive. Any bit unclear?
macanbheatha
Brilliant, first viewer as well :>)
I accept the idea behind Neil’s recent hun statement being PC and more of looking after himself.
But…
Why was Neil and our board happy to tell the world we dont need no stinkin huns, only weeks ago. Yet not promote the same now.
By not having a pop at the huns yesterday will hardly turn the huns into Neil’s biggest fans.
Hopefully like Folly Folly I just need a drink.
macanbheatha
You should post it again at the start of each page for a while, get it out there.