My friends in Celtic, the day has come. Rangers are dead. The Old Firm existed for many years but we all now know that particular duopoly was terminated years ago – on the day Murray International Holdings bankers tried to put Celtic out of business, to be precise.
Today, we stand proud and alone.
“Celtic are in an exceptionally strong financial position. They can survive the vagaries of football fortune, or economic downturn, without the threat of cutback should income dip.
Conversely, Rangers are in dire trouble. This year will not be financially the worst Sir David Murray has bestowed on his club, but it will make for horrendous reading to any prospective buyer of the club and provide further evidence that they are hopelessly adrift of financial security.
Winning the league this season and qualifying for next season’s Champions League will not provide succour from their structural problems, it would only result in a temporary slowdown in decline.
Rangers debt has risen inextricably, and is set to continue to rise, at a time when bank facilities have become more difficult and expensive to acquire.
Should new HBOS owners, Lloyds TBS, take fright at the property-to-football conglomerate, Murray International Holdings, which includes Rangers, frankly, the consequences are so dramatic, I don’t think we should discuss them, as I have trouble sleeping when I get too excited.
We live in a time when things which simply cannot happen, happen. When some of last year’s most credit-worthy companies in the world have gone into receivership; when one of the centuries-old pillars of the Scottish business community crumbled in days.
No company dependent on a significant increase in its debt is safe.
Rangers Football Club, 1873 – 20??”
The years since 2008 have been hard for Celtic fans. We watched our team lose three consecutive league titles to a former club, who despite their self-evident mortal danger, continued to fund a league and Champions League challenges.
We stuck to budget and lost trophies. This was a hard decision but it was absolutely correct. Football regularly throws up clubs who will recklessly burn cash. You can indulge in their lunatic ways, or sit it out, tell your fans you cannot afford to spend more, and hope that in time your judgement is proven to be right. Today is vindication for all those hard years.
I’m not a financial analyst and never actually spend too much time reading Rangers accounts but the above synopsis was inescapably obvious – and this was years before I knew about the EBTs. Rangers directors would have known this at the same time, if not before. If they were blind to it, they were equally useless. Only God above will know why they didn’t rein the horses in, lose a few leagues, but kept their football clubs in business.
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Walter comes riding to the recue with a broken defiblarator and a tainted white charger.
Sky news reporting that Green has bought all the assets…. Can this be right or is he being delusional again? Has he told HMRC?
Meanwhile Walter is lining up a bid – too little too late?
So many questions – so much joy!
SSN bigging up the man with no surnames one minute to midnight bid to buy the dead huns, no mention of the duffers earlier statement confirming no late bids could or would be considered, beginnning to have serious doubts about SSN in terms of their objectivity, in fact have decided they are as objective about the huns as the rest of the Scottish establishment.
Three men fae Carntyne and a bottle of wine, and 5 woodbine went tae buy the Ragers, and it was sssssshhhhuuuuuuuuuttttt!!!!!!!!!!!!!!!!
In work at moment, radio on in general office. In last hour..jcge now it’s the end of the world as we’ve known it!…hvns raging (ABSOLUTE magic)
Btw….thanks Paul, rtc, Phil.
Happy daze
Administration for another 8-10 weeks? Are they going to try in August what we thought they might try at the end of last season…newco late one Friday, turn up for game as normal on Saturday?
I presume the Walter Smith bid is another bid for the assets and if they offer more, as seems to be the case, they are in pole position(once Green has been paid off)?
HH
Walter Smith speaking about a Rangers move to a European or Atlantic League, October 2009:
“Scottish football can survive without the Old Firm first teams. It will mean other clubs have a chance to be successful.
“When I say the Old Firm leaving to join an Atlantic League, I don’t exclude other Scottish clubs from having that chance.
“The team that wins the SPL could step up and, possibly, represent Scotland in the Champions League. If Rangers and Celtic were playing in the Atlantic League and Aberdeen win the SPL, then I think there could be a play-off to get into the Atlantic League for the next season.
“Even under this scenario the Old Firm would still have a presence in Scotland .
“Probably their teams would have to start in the lower divisions and work their way up. I fear for Scottish football if we don’t change.”
Walter Smith, April 2012:
“Despite all the joy that a lot of people might be taking at the situation that Rangers are in, no-one – especially in the SPL – wants to see Rangers leave with the support they carry and the amount of money they bring to the league itself.
“The sanctions they have given would, in my mind, put them in danger of relegation and every club in the league would suffer then.”
Old Walter advises
“We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for.”
Following on from what Quonno said, I’m sure at one point I read somewhere that the SFA/SFL/SPL would not entertain an application for a share anywhere in the league system from a team that sounded, acted, smelled or looked like RFC(Deid).
For a start off their new name has seen them fall at the first hurdle and second of all why would they want a team back in with ‘The standards it is known for’
I’d run a mile!
The nuclear bomb is coming into view.
Why did Walter receive EBTs after leaving Rangers?
I am so glad the nuclear story involves him.
Is jail too much to ask?
Our man Green just gave a statement that he has completed the purchase of the Zombie Fc
Next Instalment
Friday 15th June
The SPL board meet Friday and part of that meeting was the period of grace given to huns to provide audited accounts to allow participation in the SPL 2012 / 2013.
I am assuming no such accounts will be provided
BOOM BOOM
Charles Green statement:
“Following the formal decision of the creditors’ meeting at Ibrox Stadium today, the consortium I represent has fulfilled its agreement with the administrators and has completed the acquisition of the business and assets of The Rangers Football Club plc.
“The transfer of the business and assets to a new company structure has taken effect immediately and the new company is The Rangers Football Club.
“An application has already been made by the company to register with the Scottish Football Association and to participate in the SPL.
“These applications will be considered over the next few weeks and I will continue to have discussions with the football authorities in relation to the Club’s position.
“This day is bitter-sweet for the consortium I represent. From our first involvement we made it clear we would have preferred to acquire this great Club through a CVA.
“The decision by HMRC to vote against the proposal was, in my view, counter productive and did nothing but visit the sins of the past on the owners of the future and indeed the supporters who care so much for Rangers and deserve better.
“It was however prudent for us to prepare for this outcome and we are proud and honoured to acquire Rangers and begin a new chapter in its illustrious history.
“These are early days and there is a huge amount of hard work to be done to rebuild Rangers…
cont’d
“It will take time and effort, passion and commitment. Rangers will rise again and that journey began in earnest at Ibrox today.
“First I must address the issue of the Manager’s position at the Club. Our consortium wants Ally McCoist to remain as Manager and we firmly believe he is the man to take Rangers forward.
“He embodies everything that is great about the Club and without question we want him to continue as the Rangers Manager.
“I fully understand that other people have courted Ally who do not wish to see my consortium succeed however, I believe time for decision and rancour is over now that the Club has been sold and everyone with the interests of Rangers at heart should unite.
“The rebuilding of the Club will happen from today.
“As I have stated previously, it is our intention that no single investor or institution will own more than 10-15% of the shareholding.
“One of the saddest aspects of the refusal by HMRC to support a CVA is that small shareholders have lost their shares in The Rangers Football Club plc.
“However, supporters and shareholders will have the opportunity to invest in the new company.
“My consortium has been determined from the outset that from now on Rangers will be run to the highest standards of corporate governance.
“To that end, the Club will have two boards in the future – a company or plc board and a football board with appointments announced in due course.
“In terms of investors in the company, to date our investors include Chris Morgan, a UK-based businessman representing family trusts; Glenmuir, the renowned Scottish clothing company; Ian Hart a Glasgow-based businessman; Alessandro Celano of Blue Pitch Holdings and Zeus Capital.
“We are looking to expand that investor base and are in discussions with a number of interested parties.
“I have been greatly encouraged by the enthusiasm investors have shown and their belief that Rangers can have a great future. I believe that too and I, along with everyone at the Club, will work tirelessly to make it happen.”
Ha ha now on radio….used to be somebody I used to know.
Oh this is a joke…fall to pieces by razorlight.
Surely a timmy agenda!!
“Meeting closed to boos and whistles from shareholders. “How do you sleep at night?” one shouted.”
“On a big pile of comfy cash” was the reply from Duff&Phelps
GOOD GOD ALMIGHTY!
WHAT A DAY!!!!!!!!!!!!!
So Green owns Newclub, Too Little, Too Late Walter…
lol!!
OH GOD NO IT’S WALTER!
:o)
Green confirms he has now completed the deal and transferred the assests…BBC
Whistling McMillan on Shortbread moaning again. Your deid get over it!
” There’s not a team called the Glasgow R@ngers”
“No not one, no not one”
HARDEEHARDEEHARDEEHARHAAAAAAAAA……………
Can soeone post the relevant tweets from RTC, can’t get on it
HH
Away to meet my wee da and have few beers. Giving him a big hug as soon as I see him. A great day for a Catholic raised in Larkhall.
HH
Paul67 –
Still to come – more twists and turns than Tommy Burns ever produced following the death of the Govan outfit.
Tramp the dirt down.
Thank you by alanis morrisette on now! Ha ha
Heart of Midlothian the 2nd most successful club ever is Scotland’s top division
I can’t believe its Walter
Back to get the sides stiched up
Nurse Nurse
greens mob will sell to this other mob involving smith thus making a quick profit,
because the hordes want watty as their new owner.
Auld Walter the Cardigan Knight to the Rescue?
Pity he is too late, cos the beast is deid!
Rangers Tax-Case @rangerstaxcase is also dropping big hints that he is NOT squeaky clean…
Time for an enterprising journalist to do his or her job. Let me suggest a couple of questions for the returning hero… (cont)
Questions for Walter: Can you tell us in comprehensive detail about all payments you received through the EBT scheme?
Questions for Walter: Can you tell us when those payments were made?
Questions for Walter: Can you tell us why those payments were made?
Questions for Walter: And lastly- were you the Everton and/or Scotland manager at the time? i.e. long after you left RFC employment
Now mainstream media folk. Time to prove that I was wrong about you. Anyone willing to ask Walter these questions on camera?
This saga is a real “page turner”, next chapter is the bun fight between the Cardigan Knight and the Green Knight.
;o)
“I fully understand that other people have courted Ally.”
hAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!
Aye Greggs, McDonalds, KFC…..they court him with their window displays!
Come in Ally, you know you want to.
fastfoodcsc
All this talk of preserving history – Rangers Football Club officially died this morning along with its history!
New club = new start = about 4 hours of history!
traditionalist88 on 14 June, 2012 at 16:37 said:
Probably best to read from the bottom up, this is the last hour of tweets.
Rangers Tax-Case @rangerstaxcase
Questions for Walter: Can you tell us in comprehensive detail about all payments you received through the EBT scheme?
Rangers Tax-Case @rangerstaxcase
Now mainstream media folk. Time to prove that I was wrong about you. Anyone willing to ask Walter these questions on camera?
Rangers Tax-Case @rangerstaxcase
Questions for Walter: And lastly- were you the Everton and/or Scotland manager at the time? i.e. long after you left RFC employment
Rangers Tax-Case @rangerstaxcase
Questions for Walter: Can you tell us why those payments were made?
Rangers Tax-Case @rangerstaxcase
Questions for Walter: Can you tell us when those payments were made?
Rangers Tax-Case @rangerstaxcase
Time for an enterprising journalist to do his or her job. Let me suggest a couple of questions for the returning hero… (cont)
Rangers Tax-Case @rangerstaxcase
Walter? Well this is an interesting turn of events!
We should rename them Hydra FC. You cut one head off and 2 sprout up in their place.
THT@TheHumanTorpedo
After his late bid for Rangers Walter Smith will now fly to Dallas where he aims to stop JFK assassination by shouting “Duck Mr.President”
There are major issues being raised by RTC on his twitter account.
Only questions, you understand, and not allegations as such.
The gist of it is that Walter may have been benefiting from an EBT when he was not an employee at RFC – allegedly. Essentially RTC is calling the Cardigan out on this one and is encouraging any journalist worthy of the name to ask these questions.
Anyone got Alex Thomson’s telephone number?
Sir Walter, a keen ornithologist, now intends to save the dodo.
So Somebody has bought something and has called it “The Rangers” oh dear, and now uncle Wattie is suggesting that actually he is going to ride in on his white charger and save the day for the great unwashed
Please tell me this isnt just a great big wind up, nobody could write comedy like this if they tried
So “The Rangers” want to join the spl pity they are behind the Garscadden Boys under 12’s in the queue….
RogueLeader
More like the minotaur.
Ha ha Waltie says he would like to preserve the history of the club…. Who let him out?
Duff & Phelps representing creditors’ interests.
But who is representing Walter And The Carpetbaggers?
Burke & Hare?