So what do we know?
Need for clarification
Rangers’ potential new owner has asked for clarification on what he is buying, a franchise with a place in the SPL or the middle of a doughnut, with the ability to apply for membership to the Scottish Football League.
That clarification has not been delivered, which must undermine Rangers sale.
Rangers want an extension
Despite needing clarification, Rangers administrators, Duff and Phelps, failed to attend the meeting and asked for a further extension (it’s like the 2007-08 league season all over again). Curious, to say the least. Clearly they were not in a position to offer the SPL information that would assist their case.
To be revealed before 30 May
The next meeting is on 30 May, by then the First Tier Tribunal on Rangers Employee Benefit Trust will have reported. There will also be a considerable amount of information in the public domain on how Rangers operated under Sir David Murray. With all this information available, it will be impossible for the SPL to further delay publishing the findings of their inquiry into Improper Registration of Players by Rangers. In disciplinary terms, this is the big one.
What about Craig Whyte?
Bill Miller was appointed preferred bidder on Thursday but, as floating charge holder, Craig Whyte can ask the court to block stop Duff and Phelps disposing of Ibrox. We don’t know Craig Whyte’s mind, or if he has a deal with Miller, but if they are not working in partnership, you can expect a late and effective legal block put in place to stop the disposal of Ibrox.
So what does it mean?
The chance of a Newco being in place, in the SPL or SFL, for the start of next season has never been more remote. On 7 May they don’t have a buyer, after 10 weeks they don’t have the stadium and the moral outrage over what looked likely to be voted through today is beginning to gain traction.
Today was the best chance Rangers had to cut a quick deal with the SPL. Further delay only means more time for the other clubs to work on contingency plans and to be lobbied by their own supporters.
We are six days away from the end of the season and Duff and Phelps have to put enough of a confirmed deal in place to convince someone to part with £11.2m. They don’t have passage into the league and they don’t have a stadium to sell.
If Bill Miller stays in the game until the end of the week and submits a formal offer for the stadium and other assets, we can expect Craig Whyte to go to court to halt the process. I cannot see how or why Miller, who doesn’t even have a passport and has made no moved to come over and negotiate in person, would put £11.2m on the table when he doesn’t know what he is buying, or what sporting and financial penalties are coming his way.
Rangers will have to overcome all these obstacles long before 30 May if they are to stay in the game long enough for Newco to inherit their place in the SPL but their chances of surviving that long is dependent on a positive outcome from the meeting that has now been postponed.
They look marooned; I don’t think they are going to make it.
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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So the admins have attended previous meetings and they decided they didn’t fancy this today so the meeting was adjourned, When did they ask for this? Was today all a sham?
Doncaster looking dodgier by the minute and I’ve had little confidence on him applying the rules.
Celtic research has jsut tweeted this link saying ND on NOW
http://www.bbc.co.uk/sport/0/scotland/17499740
Apparently onlu available in UK
Chill Guys.
What has happened today that has changed the situation in any way? Nothing !
D&P are just gaining some more time. They asked for the postponement( because they want the new owner there-Yeah). As far as I was aware Bill Miller was forming a newco and leaving the oldco RFC(ia) which will still be in administration around until a CVA is agreed which in D&P’s words will take several months.
Therefore even if all this goes ahead Miller won’t ‘own’ RFC(ia) because they are still in administration so what is he going to be at a meeting of SPL clubs for.
This is all smoke and mirrors because D&P know that RFC(IA) wont be around on 30 May.
Jim Duffy
“Tough decisions have to be made.”
There’s only one decision,the right one.
‘You can’t prejudge the issue’ Doncaster
He better tell Michael Johnston that!
Jim Duffy…more waffle waffle
Apologies in advance for length of post……
The Parable of the Chinese Market Seller (part one)
In the shadow of the Great Wall a humble Chinese boy traded in the market square of a small village. He worked the plot his father had left for him when he had fallen ill. The boy was uneducated but he was smart and hardworking and he toiled seven days a week to earn some yen to give to his family. The village attracted many tourists as it was situated under a very famous stretch of the Great Wall. The boy sold cans of cola and beer to foreigners who were thirsty after walking for miles along the wall. The boy was very popular with tourists because his father had taught him some interesting words in English and Spanish and this seemed to make the tourists laugh when he spoke to them.
The boy’s name was Yi and every morning he walked for over an hour from his parents to collect his products from his vendor. He collected 100 cans of cola and beer , strapped the box to his back and walked back to the market square and arranged his products to sell underneath the wall. By lunchtime he had always sold all of his drinks so he ran to the vendors to collect more. He gratefully received his commission from the vendor and walked to his parents house to give them his earnings from the morning.
In the afternoon when he had sold almost all of his his drinks, he would put the last few cans in his pack and walk the last mile of section of the wall above his village. He sang Chinese songs his father had sang to him as he approached the last tourists of the day. Yi always gave away the last five drinks from his pack. The walkers were tired and thirsty and accepted drinks from this small Chinese boy with a smile. No matter how much they offered Yi always refused payment because he remembered his fathers advice – ‘take no more than you need, everything else must be given away’.
Yi ran home each night with his empty pack, smiling and singing, happy to have made his money and to have met so many new people. At night the boy dreamed, vividly and in beautiful colours and always of the same thing; a gleaming bicycle. He hoped one day he would have a bike with a basket for his drinks to stop his back from aching. If he could buy a bike he could sell more drinks and maybe even one day he would afford a rickshaw.
Some of the market sellers did not like Yi. He was always running around trying to make tourists laugh, smiling and joking when others were working diligently. They considered him foolish because he passed all of his takings to his vendor and kept nothing for himself. They mocked him for selling his cola and beer at cheap prices to the nicest tourists while they always tried to get the highest value. The sellers called him gweilo because he and his family stayed outside of the village but mostly they just sneered at him at him from afar. However, one older boy, named Xian, detested Yi with every fibre of his being. He hated Yi’s popularity with tourists and the fact he was famous outside of the village for his songs and good humour. Xian wanted Yi gone from the square so he could be the best and richest of all the traders. As the years passed Xian tried all sorts of nasty tricks to make life difficult for Yi including stealing his drinks and threatening him. One day Xian got up very early and ran to see Yi’s vendor. Xian said: ‘Mr I will sell your drinks to tourists for more money than Yi for a small increase in commission. Both of us will become richer this way’. The vendor agreed and when Yi arrived later in the morning to collect his cans, they were gone. When the vendor explained why Yi was worried for his family and ran to the market square to inform the other traders of what Xian had done but they refused to help him and told him to go home. Yi said the traders must speak to Xian and ask him to behave fairly but even though they disagreed with Xian’s actions, they said it was not their business and they could not help.
Yi told his father what had happened that day and became very upset. His father smiled at his tears which made Yi angry but the older man approached his son and said to him:
“Yi, I am proud of you, I passed my life to you and you have worked well, with humour and humility. Life is difficult and this is a lesson for you. Tomorrow you must wake as normal and think of what else you can do to help this family”
Yi went to bed and reflected on his father’s words which had comforted him but he did not know what to do the next day. He considered his qualities, counted the little money he had saved and made his decision.
The following morning he went to the market and set out his stall as normal, without his drinks. Xian and the other sellers looked at him suspiciously. Yi was nervous but smiled and hoped his plan would allow him to earn some money. He ran to the stall belonging to an old Chinese man who sold artwork and photographs of the Great Wall. He asked him to take the prints from the wooden frame they sat on and offered him 20 yen for the piece of wood, which the puzzled old man agreed to.
Yi took the frame to the steps at the bottom of the wall just outside the market, placed his paper on top and waited. When he could see the first walkers of the morning approach he began to draw quickly, as best he could. He completed his drawing and offered them the portrait for a yen. They looked and laughed heartily at such a basic drawing and Yi joined in. The man gave him two yen, shook his hand and asked if he could take a picture with him. Yi felt happy he had some money to take home to his parents today and knew his father would be proud.
By lunchtime, news had reached the market square of Yi’s new business. Every tourist entered the square with a drawing and Xian could not contain his envy. The tourists were laughing and looking at their portraits. Their happiness infused the square with great energy and created an atmosphere. The other sellers profited from this but Xian could not contain his anger.
“This boy is younger then me, from a poor family from another village and still he is the most popular trader with tourists” he thought to himself.
In less than one month, Yi’s silly drawings and impish smile had made his family more money than cola and beer had in a whole year. He gave all of this to his parents and kept only enough to buy a bicycle. He grew to love his new work and cherished the chance to present travellers with a token of their experience on the Great Wall. He worked in the fresh air and laughed with many people. Soon Yi became famous and the marketplace benefitted as tourists arrived in high spirits.
Xian’s hatred for Yi increased every day and he became so obsessed with his success he did something drastic. He sold everything in his stall and purchased a rickshaw which he could not really afford. Each morning he cycled beyond Yi to meet walkers further up the wall. He tried to sell them cola and beer, photographs and portraits and offered to take them into the market for five yen. When they refused he would become aggressive and his behaviour made people avoid him even more. After one month no one had paid him for a single ride in his rickshaw.
Now Xian was very worried for his future while Yi continued to prosper. He had no money to sustain himself and so he asked other vendors if they would purchase his rickshaw for one yen so he could buy some rice. But no one wanted the rickshaw because they knew tourists associated it with Xian’s bad manners and spiteful outbursts.
After some time, Xian was becoming unable to survive but retained his hatred for Yi. He was so desperate he began to steal from other traders, sometimes food, sometimes prints he could resell or memorabilia of the Great Leader whom he loved and admired. Soon he amassed a large number of goods and was able to be an important trader in the market again. Some people knew what Xian had done but were afraid of his capacity for vengeance and dared not say anything.
One evening after everyone had left the market, Xian waited on Yi and behaved very badly towards him. He threatened him and burst the tyres on his bike. Yi explained he was not afraid of Xian even though he was older and told him he would continue to trade in the market. This made Xian hate the younger boy even more and he vowed to do everything to be more successful than him.
Yi spoke to his father that evening and informed him of his problems with Xian. His father told him he had acted honourably but that he must speak with the other market sellers. “Once they are aware of his misdeeds towards you they will ensure he is powerless to do any more damage.”
When Yi spoke with the other traders and told them about Xians behaviour some of them discussed their own experiences and the true extent of Xian’s theft and intimidation was revealed. The older traders met together at lunch to decide what to do and spoke to Yi later that afternoon;
“Yi, we know you are very popular and bring many happy tourists into the market square and we are grateful for that. However, Xian has been trading here for so long we could not eject him. Besides, we have to live in the same village as him and you do not. We must take care of our own interests and so Xian will continue to trade.”
Yi was confused and begged them to act with courage and face up to Xian but they refused. Yi said:
“You know about all of Xian’s actions and you have also been damaged by them. You know it will be difficult for me to work here alongside him every day. You have seen for yourself the shame he has brought on the market with his poor manners and aggressive personality. And yet, he is to remain?”
But Xian’s influence had spread so wide that even those he victimised could not imagine the market without him.
Yi spoke to his father that evening and became very angry:
“I have only ever wanted to enjoy my work and Xian and the others have taken that from me. The traders ignore his misdemeanours and refuse to take action but I will not stop because of him. I will fight him each day forever more.”
When he calmed down, he listened to the old man’s advice:
“Yi, you have taken everything Xian can do to you for a long time now, his ill will, stealing, envy and aggression. It is beginning to change your joyful spirit and I sense your bitterness. Yi, no one knows what the future holds but but you must protect yourself and the essence of your nature. This is more important than anything. You have soul, spirit, people warm to you. The other traders can only dream of this. Tomorrow, you must wake as normal, travel from village to village and find another market to work from. What becomes of Xian and the marketplace is none of your concern.
TJ
sparkleghirl,
Thanks anyway. My policy is to check every detail tight now as it is all complex and we don’t want anything to get slipped through
‘admin is not an easy option for clubs’ Doncaster
Poor, poor huns. Everybody is picking on them.
“Hey! Testlin’ … Anybuddy oot There?” Enquires , Whitey.
“Aye.. Go Ahead.. we’re Listenin’… ” Disembodied, Voice..
“And Whit aboot. Ma Rights.. then?..” Whytey, Wants tae know..
” Canny gie ye answer, tae that Pal.. Ye wull hiv tae Bring it up
at the Next Meetin’ o’ the Ludge” Disembodied, Voice.(Sniggerin’??)
Kojo
Still, Laughin’
Gordon_J backing Neil Lennon on 7 May, 2012 at 18:29 said:
Someone will have it on soundcloud soon I would imagine.
It didn’t occur to me to record it in time.
Doncaster has had limited talks with Bill fae Tennesse, but hasn’t given assurances.
Paul 67 said “There will also be a considerable amount of information in the public domain on how Rangers operated under Sir David Murray.”…Yes Paul, I think the BBC are preparing another programme which will air before the 30th May meeting…hopefully it will cost Minty his knighthood and Campbell Ogilvie his job at Hampden.
Lifted from RTC site
Paul McConville says:
07/05/2012 at 6:21 pm
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Phew! Finally caught up with the posts. (I have been doing other things during today I hasten to say!)
Couple of points of interest. It was drawn to my attention that a poster on FF had suggested that I had in fact set up Rangers FC Acquisitions Ltd and then written about it in an effort to drive traffic to my blog… http://www.scotslawthoughts.wordpress.com …
I had not done so, but in anticipation of Companies House opening tomorrow, have lined up the following:-
Rangers Incubator Ltd; Rangers Newco Ltd; Rangers (Same As It Ever Was) Ltd; Rangers (Sine Qua Non) Ltd and I Can’t Believe It’s Not Rangers Ltd.
I must also thank the FF poster who advised his fellow fans not to look at my site, whilst helpfully providing the link for them not to click on.
Bearing in mind that Albion Rovers could end up relegated, if the playoffs go wrong, the only silver lining from that might be the chance to play Rangers next season in Division 3.
I wondered whether, as a well-known writer on football/legal issues (ha ha), I could cadge an invitation to the Cliftonhill corporate hospitality. The chance to mingle with the Rangers directors at the game would be fun. Even better, if I could get onto the pitch to present the half time draw, or at the end for the Man of the Match award. I am sure that Rangers fans would be keen to show their appreciation!
After that flight of fancy, back to writing! One thing to be finished is a blog post which proves, conclusively, that newco won’t possess the “history” of oldco
since when has the accused had the right to detrmine when their hearing is and negotiate what their possible sanctions are
need to remember this if i ever go to court
Miller`s offer is said to be around £11.5m
Is he expecting all the assets of RFC ….players,training ground and stadium for that ?
His proposal is to move the above to a newco and leave the debts behind
yes?
surely D&P will get carpetted if they accept this deal …and in any event is CW happy with this …he is the owner of the company after all
I think that some SPL Board members are in danger of messing themselves right now.They are caught between angry fans of their own team if they let the Newco in and angry huns stirred up by McCoist and Jardine if they don’t.
I’m sure they would be quite happy to kick this one back to the clubs so that they don’t have to be individually identified (and McCoist calling on their addresses to be published).
But someone probably pointed out today that this would need a rule change and therefore 21 days notice. So they all said “phew” and asked for another round of coffees. Or teas. Let’s take a vote.
A couple of points on today’s events and peoples reactions to them
1. Why are you expecting a statement from Celtic? The one thing that can’t happen is Celtic being seen as destroying the hun, imagine the Orc hoards reaction to that, anyone in Celtic colours would be a target and we all know what the result would be.
2. The board know that if they vote against the hun that they will also be targeted, therefore it makes sense to open up the vote to all the clubs, if the vote goes against the Orcs they have less chance of pinpointing the so called culpruits.
Everyone knows that when they die, they will be looking for blood, why put yourself at the front of the queue!!!
does nobody on here care how the bigotfest went down over here?
there was still tickets available today – a bit less in the pot for the rff ha ha
lille 2-0 up
How can giving the huns an extra three weeks i.e an extension to solve their problems be a good thing ?
What is to stop other SPL clubs going into Administration and also taking advantage of a prompt Newco ?
Hail Hail
antrimkev
i can`t imagine a worse footballing occassion
every reason why they should die
keevins
the wrongdoing has been on an industrial scale
but they should stay in the SPL
joker !
PFayr
I agree!but he’ll have a thing called clever lawyers and they’ll find loopholes.What I find utterly disgusting is a company which owes huge sums,can move money into another company and then claim to be skint.Your no skint,there’s your money over there.
Sir Paul..
Going intae The Hospital.. The Morra.. Kiddo..
Wish Me Luck!!!!!!!!!!!!
Seeya,
Kojo
Laughin’,like Hell… awe the Wey tae the Operating Room.
Miller will not part with 11.5m. No
chance.
UEFA must act with this
Doncaster~pathetic liar.
Antrimkev,the Huns beat the Huns 0-2
PFAyr,
£11.5M is only a bad deal if you can get much more elsewhere. I’ve no idea what a realistic assessment of the market value of their assets is – other than that it will be much less that the £100M+ in previous accounts. (Back in the old days when they actually produced annual accounts.)
I am led to believe that the BBC are set to screen before the end of the monthh another hard hitting expose not on Whtye this time but on Murray and the EBT’s. Hopefully this will be out before the next SPL meeting. If this exposes some of their wrongdoing to football fans then this should put the SPL clubs under more pressure.
Does anyone have any info on this?
Paul67
Another train of thought states Newco will be pushed through this week and if they play Sunday under that guise then they are safe to play in spl next season without penalty
My train of thought is Whyte rushed his lawyers in a taxi to the high court to get Duff&Duffer appointed. They have done everything possible to delay any deal and eat up any cash that became available.
Whyte had liquidation in mind from day one.
God Bless him…
deekbhoy, this from yesterday. I don’t know how reliable it is
awrencedonegan @lawrencedonegan
Hearing that Mark Daly of BBC has a new doc on rangers coming in 2 weeks. Hearing that it makes last doc look tame in comparison #spl #rfc
hope all goes well Kojo
….PFayr on 7 May, 2012 at 18:39 said:
coorslad on 7 May, 2012 at 18:43 said:
seen a busload from the town going up to it – vile vile people – the irish league will be unfortunate enough to get these dregs when rangers die
i feel sorry for the irish league
Kojo. Sorry fella to hear your going into hospital tomorrow but all my best my friend and I hope your out soon.H.H.
ASonOfDan
i have considered that D&P have been looking after CW for some time
they have trousered a fortune in fees and have done hee haw to challenge his ownership
Until we meet again…
Keep the Faith!
Hail Hail!
I asked the other day and didn’t notice any replies – sorry to anyone I apparently ignored.
It has been suggested that newco aim to play next weekend in order to force their acceptance into SPL – playing the game would demonstrate that the SPL has accepted their right to the transferred share.
It of course looks less likely that newco will be ready, but IF it were, surely by playing the final fixture of oldco they themselves would be admitting that they ARE oldco and so liable for any sanctions and penalties?
James Forrest is Neil Lennon! We are ALL Neil Lennon! on 7 May, 2012 at 18:21:
There has been so much misinformation spread from Rangers, Duff & Phelps, the SPL and the media among others which has given hope to some and resulted in panic for others.
But what has changed since 14 February? Nothing. Craig Whyte still holds all the aces, Ticketus are lurking like a bad smell and the result of the big tax case looms ever nearer.
If you are right then let me be the first to congratulate you.
Personally, I think they will be liquidated and will not be taking part in any league next season.