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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Ten Men Won The League on 14 June, 2012 at 16:50 said:
I can see Charlie Green + his consortium not wanting less than £10m from the EBT Cardigan’s group for the stadium etc
The question is. Will they pay it?
Another point came to me when i saw the names in EBT Cardigan’s backers
Why on earth are Celtic and any supporters clubs continuing to use Park’s of Hamilton, considering their owner is an uber Hun who is using their money to try and purchase a NewClub?
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We should be told if this is New Douglas Park or the Old One!!! I’m sure there is a JJB joke in there somewhere…..
Just to confirm a couple of things:
1.) Charles Green’s company Sevco 5088 Ltd have “confirmed” that they have purchased the assets that used to belong to “The Rangers Football Club Plc” for £5.5m.
2.) Charles Green intends to rename Sevco 5088 Ltd as The Rangers Football Club Ltd.
3.) He also wants to open this up to new investors including allowing the 26,000 shareholders of “The Rangers Football Club Plc” to purchase shares in “The Rangers Football Club Ltd”. He will have to apply to get this new company listed on the stock exchange to enable the selling of shares.
4.) This will leave 2 entities called “The Rangers Football Club Plc”. One will be in liquidation and one will be hoping to operate a football club.
5.) A company cannot have the same name as another company so that’s a no go for a start.
6.) “The Rangers Football Club Plc” (the one currently in liquidation) are the owners of a share in the SPL.
7.) The new Rangers want to have that share transferred to them.
8.) A vote will have to take place where 8 current SPL members will have to agree to this share taking place.
9.) BDO will operate the day to day running of “The Rangers Football Club plc” while they remain in liquidation and will be the ones who decide how that entity votes.
10.) Charles Green may yet decide to sell these assets that he has bought to a higher bidder giving him a nice profit for little or no work.
Mort
I can’t see Green owning the huns for long.
Not when Jim McColl’s £££££s are being wafted in front of his nose.
Got my Chinese lanterns at Semichem £4.99 for five, biodegradable .
Cardigan or no Cardigan off they go in celebration at 10.00 tomorrow night
Hail Haill to the next nine years and ten in a row.
wonkyradar on 14 June, 2012 at 16:52 said:
Mer Film titles:
Build their Gallows Very High.
The Awful Truth (a biopic of Watty’s later life).
Steal anything Big or Small.
The Very Long Goodbye.
Bad Fellas (about a bunch of psychotic gangsters).
Your only a Club Once ( james bond type boardroom espionage).
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‘The Papes of Wrath’……..
#Davie Provan tweeting that Seb Coe is to buy the huns.
Green “I fully understand that other people have courted Ally who do not wish to see my consortium succeed …”
Watty trying to upset the apple cart?
I fought the law by the clash now! This had gotta b a wind up!
celticinthesun on 14 June, 2012 at 16:50 said:
Auldheid
Can the new football club “The Rangers” play in SPL without SFA license?
Is there a clause that says SFA licenses can be awarded at the discretion of SFA?
There was an article on the bleachers report that was up for 30 mins and it was removed, this article stated they couldn’t play in the SPL without a licence.
I contacted Paul etc about this article and the website it originated from and they said it had to be removed.
Judging by the announcement of the positions below, Green + his consortium ain’t going anywhere in a hurry. Lovely!!
THE Rangers Football Club today announced the appointment of Directors and Chief Executive Officer of the Company.
Charles Green has been appointed CEO and will sit on the Company or plc Board and Malcolm Murray will be Chairman.
Mr Murray has been a Rangers supporter since he was a boy and is a season ticket holder.
Born in Ayrshire, Malcolm was educated at the University of Strathclyde and has spent most of his career managing some of the UK’s biggest pension funds, mainly with Phillips and Drew.
Malcolm also has experience in football through his purchase and stewardship of a 25% shareholding in Manchester United which led to him working closely with the executive management team.
Malcolm is also senior independent director of MWB business Exchange plc.
Malcolm Murray commented: “It is a great honour to be invited to become non-executive Chairman of an iconic football club.
“I am intensely proud to have been a supporter since my father took me to Ibrox for my first match and Colin Stein scored a hat-trick on both our debuts.
“I was hooked from that moment on and as a supporter and season ticket holder I have been – like all Rangers fans – utterly appalled by what has happened to the Club.
“Those responsible for bringing the Club to its knees should start by apologising to supporters who have been left to face the consequences.
“I have spent most of my working life developing a long-term investment philosophy, taking stakes in companies and working closely with the boards while imposing the highest standards of corporate governance.
“It is my firm intention to ensure high standards of transparency and probity are adopted and the Club will be managed with a prudent long-term strategy avoiding the fiefdoms and excesses of the past.
“With that approach I am sure that Rangers can look forward to better days.”
The Club also announced that Brian Stockbridge will be Financial Director while Imran Ahmad of Zeus Capital, who are highly experienced in the flotation of football clubs, will join the Board as a non-executive Director.
Further appointments to the plc Board will be made as appropriate.
ernie lynch on 14 June, 2012 at 16:56 said:
#Davie Provan tweeting that Seb Coe is to buy the huns.
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Dark Mingwall tweeting that Sebo is to return to the club much to the relief of coos erses everywhere……………….
ernie @ 16.56
Brilliant!
celtic now that the deed has been done its time to speak up about a new company
trying to con its way in to the top flight of scottish football.
Paul67,
So what now, Green or Smith?
It is no surprise at all that the Huns and all involved with them continue to live in denial. Myth has the brass neck to make a statement about ‘preserving history’ and ‘reviving’ the Huns when their stinking club has already been liquidated – they have been cheating for years so don’t expect ‘dignity’ now.
Rangers are officially dead, although they’ve been stinking the place out for decades.
Go on Smith, tell us about you EBT payments ya chancer.
SunnyBhoy on 14 June, 2012 at 16:56 said:
Green “I fully understand that other people have courted Ally who do not wish to see my consortium succeed …”
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Sue Barker?
Art of War – Nurse to Philvis – “You’ll just feel a little prick.” ;-))))
Ah so I’m not hallucinating then… (thumbsup)
Paul.
I have been at the hospital for my annual assessment of my various parts. As usual, they won’t even offer me scrap value. I don’t understand why since I bounced all the way to the hospital, the department and the Xray room and then all the way back. I just don’t know where the adrenalin came from. You would think something big happened to fill me full of energy and joy. I’ll check after this. Be great if there is something to celebrate.
Seriously, Paul, I have not even read your article. I wanted first to say a BIG THANK YOU for everything. This is up their with all the great things in my life and I will celebrate it accordingly and you helped bring it about for THE CELTIC FAMILY and for EACH ONE OF US. THANK YOU AGAIN.
Now I can sit back and enjoy another great read.
HAIL HAIL!
Spin off series for the period we are in now:
‘The InbetweenGers’
SSN appear gutted re the statement from Charlie bhoy that the dead huns are officially his, so tough luck man with no surname, back to obscurity for you, unless of course the EBT show offers you a starring role, hope so.
philvisreturns on 14 June, 2012 at 17:00 said:
Art of War – Nurse to Philvis – “You’ll just feel a little prick.” ;-))))
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Surely that’s the wrong way round?
Paul67 or anyone in the know.
I’m getting confused, if they are now officially in liquidation (which they are) what say do duff & suffer have on the business or sale of the assets?
Surely they’ve had their (highly entertaining) chance to make decisions, at snake mountain?
My uneducated thought is that HBO as liquidators are duty bound to now asset strip everything to get the highest possible price for the ginormous list of creditors? Not waiting for Green to transfer the main assets for £5.5M to newco, at a ridiculously low price. I’d have thought a property developer or even Tesco would pay more than that for the bigotdome!
tá ár lá teacht
Hail, Hail
I wouldn’t laugh at Sir Walter’s bid. Now that he has shown an interest, expect the Rangers’ fans not to cooperate with Green thereby make it impossible to continue. Cue a swift sale to Walter while pocketing a mil or two. Then see the lovely SFA and SPL fawn and drool over his Walterness and ease a passage for their beloved ‘The Rangers FC’.
We note for tomorrow night, no fireworks at asda. But firework factory at Hillington has cracking green whit and gold ones. Wife doesn’t know yet, but have stored them in the hut with petrol cans and lots of old rags. No lanterns left at home bargains Clydebank
Quonno is normally a bit of an old moaner and groaner. However, today he has been reflecting on how lucky he has been.
Old enough to have watched the likes of Tully, Fernie, Evans, Stein and Peacock on a weekly basis. Is one of the fast diminishing band who actually attended the famous ‘Hampden in the Sun’. Endured the ‘Seven Lean Years’ to emerge from the other side and enjoy the Lisbon Lions and arguably the greatest decade in the club’s history.
Witnessed the Centenary double. The advent of St. Fergus. And last but not least. Actually seen Henrik.
All the above plus the events of the last three months and who knows, possibly a whole lot more of the same to come. What more could any Tim want.
We should keep in mind that I am currently puggled on Jelly and Ice Cream and will probably return to my old self shortly
“Only God above will know why they didn’t rein the horses in, lose a few leagues, but kept their football clubs in business”
—
I would not like to cut in on Gods knowledge of the machinations of oldco RFC Paul67 but may I be so bold as to speculate that they had to live up to their reputations as “the people”
God of course is now punishing them for their greed and arrogance
Hail Hail the meek and righteous aka as Gods chosen people
Brian Kennedy back in the room, and he’s pure fumin’, by the way!
ernie lynch on 14 June, 2012 at 16:56 said:
#Davie Provan tweeting that Seb Coe is to buy the huns.
He’ll certainly have the dough with what he has bled from the ‘Jubilympics’. They all use the same tarry brush and get away with it – actually gets them knighted.
H H Naw HAIL HAIL it’s a joyous day!
Another Chairman called Murray, they never learn.
AUldheid, absolutely not!
merseycelt, yes, so it was. Need to practice my rhetoric.
Kojo, Great Day indeed.
ernie lynch, “#Davie Provan tweeting that Seb Coe is to buy the huns”, ha!
Gerry, what now, indeed. Green will hang in there. Smith will hang Green’s chances. ‘The Rangers’ will hang.
Best quote of the day so far:
Watty: “We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for.”
#paralleluniverse
TomTheLennyTim………
You still around………………
Walter has the hearts and minds, therefore the potential revenue streams, will he start another new co?
Please, please make it so!
MK Huns v Zombie Huns would be too good.
RobertTressell – Surely that’s the wrong way round?
Not in the Bangkok Royal Infirmary it isn’t. (thumbsup)
Well done to Paul and the many, many posters to this fine blog over the years who have ALL helped keep me entertained for years on this blog. Enjoy Liquidation day folks.
Many Thanks.
TheGreenManalishi(WithTheTwoProngedCrown) on 14 June, 2012 at 16:50 said:
tomthelennytim on 14 June, 2012 at 16:48 said:
I had a very late one last night, but one has a sense of duty in these momentous times. Just let me know where and when (city centre would be best)
You’ve sold it to me. Do you have my mob no? Send me a text so I’ve got yours. I’ve a new phone and I’m the Duff and Phelps of technology.
SunnyBhoy on 14 June, 2012 at 17:04 said:
Best quote of the day so far:
Watty: “We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for.”
#paralleluniverse
Would this by any chance be the same Watty who was the centre piece of the Murray years?
The actual physical matrix of the club is still present, ie the Stadium, murray park & the all important car park…only when/if the Apocalyptic opera of wrecking balls & bulldozers begin demolishing bricks & mortar will reality kick in – with that dramatic finale the whole edifice of their delusional “triumphalistic castles in the sky”…will crumble like sand castles before the tide of Reality washes it away in one flash of its tongue…ssssshhhhhhhh…leaving only a scar in the sand, that will smooth into oblivion as the waves of time move over the jaded defeated pockmark…