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.
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Auldheid – when the Huns (in whatever shape) are allowed back in the SPL, I’m genuinely worried that Celtic will suffer from the backlash of some of our fans who have convinced themselves that the end is nigh for Rangers.
I’m genuinely puzzled about what we can do to prevent them coming back with no or minimal sanctions.
I have no intention of punishing Celtic by stopping my season ticket.
Help me, what else can I we do?
DBBIA
I think you are on the money there. Especially so if Van Hoogendoonenstraden is involved.
I will limit my comments on him as to say he is litigious is like saying Olga Korbut is a bit bendy or Ronnie Corbett is below average height.
Paddy Gallagher on 9 May, 2012 at 16:24 said:
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”
I’d assume they were the first-team squad for next season, so I’d ask if any of them were on the auld dual-contracts the Light Blues have become famous for…
Seriously though … they are a bunch of kids singing football songs about their team – it’s not a problem for most sane people.
THE EXILED TIM on 9 May, 2012 at 17:46 said:
Thanks cara I’m a real novice at this sort of thing
Might try a couple more :-)
Just in from work and I was thinking, can the administrators not purchase the rankers fcia? They’ve been earning a fortune out of this (and well played up until now), and given that the rankers fcia are going cheaper than a half empty bag of chips…… it kinda makes sense.
Can they take the embarassment or will they be jumping oot the windaes in admin?
falkirkbhoy on 9 May, 2012 at 16:05 said:
They’d probably be arrested. Have you heard the songs they sing?
Auldheid
C&P’d from CST Report
Quoting ND.
In the case of a Newco, the new owner would buy all the assets (ground, players etc) and transfer them to a newco; the oldco would either be liquidated or it would seek a CVA and pay out its creditors effectively the same pence in the pound using the money from selling its assets to the Newco owner and thereafter could potentially merge with Newco; in either event, the Newco could apply for entry to the SPL. At that point, under the existing rules, the 4-man SPL Board would deal with the application. If the proposed rule change to be discussed on 30 May is passed then that decision will be taken by all the member clubs of the SPL. A number of points were stressed:
a) The creditors would, in all likelihood, receive the same amount in either case
b) The sanctions imposed on Rangers (Oldco) would not pass to the Newco
c) Newco would be obliged under the TUPE regulations to take on all employees (who wanted to transfer) on the same terms and conditions – so they would, in fact, have all the player registrations.
d) The application to join (ie to have the Rangers share passed to Newco) could be on the basis that they would shoulder the sanctions imposed on Rangers or it could be that they would not shoulder this responsibility – this may influence whether or not the share transfer is approved. (our emphasis)
The other regulations to be voted on include:
2A in which all 11 clubs have to vote, which states that if there is a transfer of the share to a Newco there would be a deduction of 10 points in each of the following two seasons
2B, which only requires 8 votes, states that a Newco would lost 75% of all fees for the next three seasons
If a new Rangers is created before this vote takes place, these regulations would not apply to it. The new regulations will only apply to those clubs who go into administration from the beginning of next season and won’t be applied retrospectively.
———————
I read that as an aide memoir to assist NewRangers in avoiding any “new” regulations……….by getting the finger out pronto……
Paddy T
Paddy Turner on 9 May, 2012 at 17:55 said:
Auldheid
C&P’d from CST Report
Quoting ND.
Am I missing something here ? How can a Newco later merge with an Oldco which has been liquidated ?
Is Mr D re-writing the rules on insolvency law and company law ??
confusedCsC
James Forrest is Neil Lennon! We are ALL Neil Lennon! on 9 May, 2012 at 17:44 said:
Ditto,lost the plot weeks ago,depending on
ghuys like you to explain possible outcomes.
Hail hail
Agent Craig “Green and” Whyte!! on 9 May, 2012 at 17:45:
“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.”
Because unlike you Neil Lennon is not posting behind a moniker on the internet.
As you are an undercover agent, any potential parcel bombers wouldn’t know how to track you down – while Lenny has probably had quite enough of that.
I don’t think he or his family need any more stress. I’m sure you’ll agree. While he has become accustomed to all sorts of abuse, I don’t think he actually enjoys it.
Hail Hail
Bunch of kids wearing rangers tops,singing
their songs??????
Must admit I would be a tad miffed when they
started with ‘up to their knees in fenian blood’
Green Manalishi
Maybe if the vote to accept a newco comes before the Oldco is liquidated – and D&P will keep bringing out potential buyers until then?
I’m confused too
CahootsRusCSC
“If a group of kids wearing rangers tops were going round schools in Glasgow singing rangers songs, what would our view be”
There is no such thing as a Rangers song. (no not one) All their songs are about bigotry, sectarianism and jumping on peoples heads. Let them die.
danso_1888 on 9 May, 2012 at 17:45:
“alex thomsonþ@alextomo
“@_JMorrison1872 listen: Rangers. Football. Club. Will. Survive. Any bit unclear?”
I think Alex Thomson is a bit out of order there. It seems like he’s being a bit curt with the guy. I mean he’s 140-years-old FFS…
These London media types have no patience for old folks.
BBC headline news……………………… two new bidders, everything fine soon
Trying desperately to recover the damage done with the Miller bid withdrawal.
No time for coverage of how their bigots and financial mess, chased him away.
Normal service resumed
can you refer to to whomever thinks the kids should be banned please..
I have been to see the children twice and they make you want to laugh and cry at the same time..
wonderful experiance…absolutely wonderful…..
Is this pc gone to far or just or bigots or just people being ashamed of being Celtic fans…
Aldersyde Avenue
Get Celtic to tackle SFA head on the one next overwhelming issue that remains and has got worse and that is no one trusts football or those that run it.
And I do not mean empty promises I me. an an open process with supporters involved setting up accountable measures that ensure the SFS police at arms distance the SPL
I mean changes that make failure to achieve an annual licence means automatic suspension, that changes how referees are monitored and why by.
The very areas where lack of accountability created the mess.
What Rangers did was bad enough but the SFA played a significant role in letting it happen.
If I saw something on those lines plus stripping of titles, 3 yr ban from Europe, annual penalty payment, transfer embargo that makes Rangers stay in their income affordability range, in short measures to ensure they CANNOT cheat again I would buy that.
That would keep Rangers on a tight leash and have the side benefit of humping them occasionally?
What do you and others think?
I will look back later as feedback is important.
St. Naismith says, “Waaaaaah..ah want ma mammie……waaaaaah!”
Nasty little fud.
The Bluebells Are Blue is a nice song for kids to sing.
A very educational number. It seems obvious when you know – but to the untrained eye they could be mistaken for lilac.
Right folks what does it mean if Whyte sells his shares??
Does Whyte still hold the floating charge??
Bidders Have Cash
Wed, May 9, 2012
DUFF and Phelps have confirmed that all three parties bidding for Rangers have the financial resource to a complete a deal – and they have reiterated that they want to get it done by this weekend.
The remarkable Rangers takeover story took a stunning new twist yesterday when firstly Bill Miller withdrew his offer to shock supporters and then it was revealed there were new players at the table.
The administrators are now in major discussions with all three and insist they want business to be concluded before the end of campaign on Sunday.
Sarah Bell from Duff and Phelps told rangers.co.uk: “We have three previously undeclared bidders, one of which is seeking a stand-alone CVA and the other two following the same plan as Bill Miller, ie an asset sale to a newco with the old company exiting through CVA.
“Of course if it is a stand-alone CVA then that will take several weeks to do and one of the aspects of that will be funding over that longer period but if a party was willing to fund that period then we could extend the deadline.
“The three main deciding factors for selection of the best bid are deliverability of the deal, quantum of a CVA and timing.
“In terms of expediency then going down an asset sale or newco route would be quicker.
“We are, of course, very conscious that the season ends this weekend and we hope to be running with one of the parties in the next few days.
“The three bidders have been doing very sophisticated research into the situation so they are well aware of what is involved. That was encouraging for us.
“Some fans may wonder why three bidders have suddenly emerged when Bill Miller was in preferred bidder status and then withdrew but they had been studying the situation.
“What we can say is that without going into exact figures we are satisfied that all three parties have the financial wherewithal to complete a deal.
“We have also taken the decision not to send out renewals for season tickets so that any party coming in to take over the club would have that funding.
“I can say that HMRC are interested to see the merits of each one of the offers and they are open to further discussion with us.
“We want to try to reassure supporters that while our duty as administrators is to secure the best deal for creditors this is not just about the survival of the club but giving it the ability to thrive.
“As I said we hope to be in running with one party by the end of this week.”
“If a group of kids wearing rangers tops were going round schools in Glasgow singing rangers songs, what would our view be”
*scabby ob’s
blantyretim on 9 May, 2012 at 18:11 said:
>>>
“Who are these peepil?…..we have a right to know….we demand that their names,addresses,phone nos.,religious denomination,lodge affiliations be dumped on the iternet immediately! Who are these peepil?”
That’s how the fat one would deal with it. Fud in chief.
Chris McLaughlin said he’s looking forward to seeing Santa in December,Shortbread have a worthy successor to Wee Chick.
D&P chap on Radio Scotia… Babbling the usual nonesense.
Apparently the ‘model’ they are using has the same income next season as this – Er, excuse me, what about TicketUs and those pesky SPL sanctions?
so northen ireland fans ‘we will shoot you for NOT playing for us’ and in neil lennons case ‘we will shoot you if you DO play for us’. that should have them queing out the door…
“If a group of kids wearing rangers tops were going round schools in Glasgow singing rangers songs, what would our view be”
Doggin’ it?
miki
I asked to be referred back to where it was meantioned on this site ya prat..
Is craig whyte heading for the hills?
My colleague, who is one of them, has just returned to our office in Piccadilly, London.
Whilst ambling along the road he caught glimpse of the MBB and followed him into an outdoor pursuits store. As our hero approached the cash desk my colleague challenged him on the mismanagement of the teddy bears and his shameful conduct.
Whyte spluttered his defence in his all too familiar manner and assured him the club would not be liquidated and there was a plan in place, but suspicioulsy he had a armful of waterproof clothing and was purchasing a large bag.
Duffer saying there will be 6-10m available from season books for the new owner…if…they break the Ticketus deal !
Dearie me.
(
\
)
##——–> “We Arra Peepil”
)
/
(
BT
Only know what I’ve read on here.
The Director of Education is a Catholic, however, and possibly a recent rap on the knuckles over another issue may have led to her interference, if indeed that has happened.
Duffer: ‘The new bidders should engage with the fans…’
That’ll be them driven away then.
Another one
http://www.youtube.com/watch?v=P4DvL22kpBA&feature=youtu.be
roy croppie on 9 May, 2012 at 18:19 said:
Duffer saying there will be 6-10m available from season books for the new owner…if…they break the Ticketus deal !
Dearie me.
It’s all so simple isn’t it?
Motherwell were in administration for nearly two years.
Pat Nevin CSC
BT
I thought you were a wee bit narky, too :O)
macanbheatha on 9 May, 2012 at 17:39 said:
This was bloody hard work for an auld hand
Cibé,enjoy
http://www.youtube.com/watch?v=f4A1xAeHjVY
**********************************
This is amazing, thanks for posting it.