At a media conference a few minutes ago Rangers administrators Duff and Phelps today told the world they have accepted the only unconditional bid got the club, from American Bill (Proxy) Miller. Mr Miller plans to start a new company to operate his ‘Rangers’ franchise. Duff and Phelps had the affront to suggest that the old club, established in 1872 and incorporated in 1899, would somehow manage to convince HMRC to accept a CVA, despite there being zero money available to them.
This will not and cannot happen. The last chance to save Rangers Football Club has gone.
Unfortunately for the UK taxpayer, they are about to take a bath for around £75m worth of medicines, school books, Help for Heroes and care services as Rangers spent all their tax money chasing football trophies.
Celtic Quick News told you this day was coming in our article on 3 October 2008. We didn’t know about the EBT case, ‘the bank running Rangers’, Craig Whyte or Bill Miller, but the available financial information made it clear that the club had debt obligations it would be unable to meet or renew.
Anyone from the boardroom of that club who claims surprise at these events is a complete fool. We should thank their media cheerleaders for refusing to analyse this issue while there was still time to do something about it.
More later, I have three months’ work to catch up on.
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RaRaRasputin:
Trophies can’t be awarded to other clubs, and, speaking for myself, I don’t want them. The memories of Black Sunday are there, forever, and can’t be erased by the “awarding” of that title to our club.
This is football, not any other business, where dumping debt can be done without a backward glance. The dual contracts issue, deliberate withholding of tax revenues, EBT’s and other scams merits football punishments, Newco or not.
Nothing less than a total realisation, by all involved, that Rangers 1873 is DEAD will suffice. History annihilated, tainted titles and all. Division 3, as would befit any other club. Everything else is a nonsense and a mockery of justice.
I fear none of that will happen. I fear exactly the kind of stinking compromise you suggest, such bastardised middle ground position which seeks to keep everyone sweet and maintain the SPL as it is. A corrupt joke in other words.
Scottish football will live or die by this decision and the club founded in 1888 as a charitable organisation might just die with it. Rangers will not be the only club forever transformed by a bent back room deal. If our club puts financial considerations and commercial contracts in front of its very soul then we too will never the same again.
Paul once said “whichever part of my club is dependent on Rangers I am quite prepared to lose.”
If this decision is made in the way it increasingly looks like, and if we legitimise it with our continuing involvement, our club will be formally and permanently bound to whichever Frankenstein FC emerges, and in that case I will consider that the club founded by Brother Walfrid died with theirs.
Here was me thinking Peter Lawwell met with the CSA and Celtic Trust on a regular basis and you can go on to their sites to read what was discussed.
As a matter of fact Newco was discussed at their last meeting and the Celtic Board are monitoring the situation and will make a statement once all the facts are known.
Funny how I knew that…
At last, some sanity from Declan.
If Bill Miller and his newco offers the administrators £11M for the assets of the oldco, what can they do?
Accept the bid – for the good of the creditors of course?
Reject it – but could they get a better deal? What would anyone else really be willing to pay for Ibrox and Murray Park?
No matter where this farce goes I believe the law suits will keep it going for years!
Hope so anyway.
i agree about not bhoycotting celtic, but… i wonder…
IF…
supporters groups from all 11 other clubs got together, and undertook to have a mauritorium on purchasing season tickets until rangers are punished accordingly… would folk go for that? would get things moving with sufficient haste if chairmen got a “we the undersigned…”
i reckon then you’d see a few SPL chairmen adopting a different stance. there would still be time to purchase them in summer, probably even before the transfer window opens, if all was reasonably resolved by then, but it would turn up the heat.
might be worth putting out a few feelers on other clubs fans fora.
just a suggestion. any thoughts?
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 3 May, 2012 at 15:54 said:
ABSOLUTELY
Fantasma is Neil Lennon
to be more precise Whyte would have to agree to the sale of the assets
the fact that Ellis still claims a 25% holding of these shares complicates matters further still.
HAil HAik
Confused I am. Not difficult TBH but nevertheless…
So:
Newco can get in the SPL because they ARE Oldco AND…
Newco won’t be liable to sanctions because they AREN’T Oldco AND…
Newco retains Oldco’s titles & history because they ARE Oldco AND…
Newco is not liable for Oldco’s obligations because they AREN’T Oldco
.
Is that about the size of it?
Declan should be the Chief Reporter for CH4. Alex Thomson talks p1sh compared to him.
AsonofDan
…….once all the facts are known.
And at this point they are unknown.
With respect to the American guy who coined the phrase.
monteblanco on 3 May, 2012 at 15:40 said:
Motherwell say oil has been discovered under Firpark;
Explains the playing surface?
Whit Kin Celtic Board of Directs… Dae aboot awe awe this?
Dae ye want Ma Lang Involved and Confusing Answer???
or
Dae ye want the.. TREWTH?
Thought.. so..
“Sweet Fanny Adams!”
Whit Kin the Celtic FANS.. dae aboot awe awe this stuff,eethur..
The Honest Answer?
“Sweet Fanny Adams!”
Awe the Celtic Parties kin dae.. is
Staun And Watch ..how this Thing Plays oot…. and
ACCEPT the Final Denouement..
Whitevah..it is.
Kojo
Still.. Laughin’
What the hell is going on?
Surely Celtic are not party to this fix that the SPL are trying to pull?
And how on earth can Duff and Phelps claim that Whyte has nothing to do with this: HE OWNS THE BLOODY CLUB AND STADIUM!!!!!!!
scotlands shame on 3 May, 2012 at 15:40 said:
I know where you are coming from my friend but i think it’s an idealised view of what happens when you buy a season ticket. Anyone, at any club for that matter, who buys into any of the teams is showing support for the regime as it stands, willingly or not. You’re not going only to watch Celtic. You wouldn’t go to watch if there was no opposition.
I wish your version was true but I fear it’s not.
TET
I agree but if we haven ´t learned not to dance to Duff & Phelps and the MSM by now then we have not learned much.
Our Board will have seen the game on Sunday … they know how we feel.
WE SHOULD STARTING TO THINK HOW THEY FEEL ???
I HAVE 100% TRUST IN THEM
WAIT UNTIL THEY ARE ALL ALIGNED IN THE CROSS HAIRS
Hail Hail
SoT
I accept that, we are all different.
What the club come out with will determine it’s future.
A few carob seeds would be nice :>)
scotlands shame ;
Having said that mate my bleeding head is spinning with this stuff. Last Sunday seems a long time ago eh?
About this incubator thingy that they just made up
Surely if RFC1872 is not liquidated RFC1872 will remain liable for the debt. How does it work that a business that owes debt, can simply chose to “go to sleep” and then wake up 3 years later and Hey Presto – no debt- it just disappears off the face of the earth. Who needs wonga.com? jist go furra kip instead.
I think I might just have stumbled on a business idea, wot no cash? Cant pay the mortgage, cant pay credit card bills? Nae money furra swallay, Nae problem! Just hit the sack and incubate yourself right out debt. I wonder why someone else didn’t think of it before me.
Regarding the reported 11.5 million quid, I wonder what this 11.5 million quid bid actually means
Does it mean that Miller is offering Craig whyte 11.5 million quid to buy RFC from him?
Or does it mean that Miller is offering all of the creditors 10p in the pound for their debt up to 11.5 million?
Or does it mean that there is 11.5 million on the table to be split between the debt and the taxman?
something like 5.5 million for whyte and 6 million for the creditors?
Massive questions to be asked if Bill Miller, who does not even own RFC, can get a guarantee from the SPL of a parachute back in. Sacking offence.
If the MSM think that keeping RFC out of the SPL would make life difficult, they should ponder the effect of a Celtic Boycott of away sides plus a generalised kind of “well, maybe you don’t, but we do, walk away” state of mind from non RFC fans in general.
Im also conscious about how things are often reported, you know the old political leak kind of stuff, Politicos and spin masters leak out bad news, for example Petrol is going up by £2 a litre, then wait until folks explode with anger then say, just leave it with me I will get the increase reduced to only a £1 cos im a hero….. then that way they still sneak in the bad news but wrap it up as if they did something to help.
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 3 May, 2012 at 15:54 said:
Is that the same Hector that has been shafted by every football club in England? Or a new different one with super powers to remove cash from the wallets of shysters (when did Cameron invent him and has he told his cronies)?
HH
TLK
Declan @ 15:47,
”see this bill millster….”
Ah thought you were all for the Blue Knight Composium – whit changed your mind?
is Hector our last hope to strike the fatal blow, and was Hector not the guy that Achilles gubbed? This is getting more and more epic.
67Heaven … I am Neil Lennon..!!..Truth and Justice will always prevail on 3 May, 2012 at 15:38 said:
James Forrest is Neil Lennon! We are ALL Neil Lennon! on 3 May, 2012 at 15:22 said:
This needs to be sorted out by the authorities, Fraud Squad, SPL, SFA, HMRC etc ….. Miller has not purchased them yet, and until he does, everything is up in the air ……once things become clearer, the Celtic Board, and other Boards, will assess the implications for their Clubs …… Patience is required at the moment ……..
……………
Fiddling while the club is burning
Awe Naw don’t be sticking up fur ernie, next thing ye know he’ll be at you’re liquidation party and demanding champers n ice cream…….
Can’t we all enjoy the Huns demise whilst it’s being picked clean….. Next year we’re go nae have 2 teams, one for Europe and one for the SPL ( I’d prefer Ireland).
What happened to the worldwide CFC membership scheme? Ernie et al ….. Perhaps we can all join with the dosh we would have paid to espn or sky, 10 mill per year enhance the Celtic tv network, become a big player with a big support, we have it in us.
V
EXILED ——
OK !
Remind me in the autumn .
La cena Pasada doon govan
Jungle Jam@12.52,I fully understand that this is an emotional time,I too am very upset at the prospect of the scum wriggling out from under,but,I will thank you NEVER to cast aspersions on my grandparents behaviour again.
I honsetly believe that this is just another step in the ruse.
The ruse is this. Ever man and his dug knows the huns are history
Only the daft wee denial-ists cant contemplate it.
Ellis, Miller, Whyte, Murray possibly even Brian Kennedy some maybe all have invested into this liquidation from the beginning.
This two week due diligence phase carries us over until the end of the season.
Bill Miller will truck away and take Whyte, Ellis with him.
Then the hun will get his throat cut.
Anybody remember Dave Kings Synopsis ????
When it comes to the fiddle that hun is the master
Hail Hail
greenjedi on 3 May, 2012 at 16:05 said
the club is not burning, but it should be ablaze with activity and getting our response ready.
If not, then meek acceptance will not do, all for the 2- 3 million quid a year from a TV deal ? Shameful.
Now the trick for tonight…
Keep up with the Miller’s Tale
Without hearing the Cellic score till BBC Alba at 10:00.
GeoffreyChancerCSC
The Lizard King on 3 May, 2012 at 16:03 said:
Yup the very same one.
See port vale
hail Hail
Vmhan
i am not sticking up for Ernie.
he does so himself very well
Hail Hail
ASonOfDan on 3 May, 2012 at 15:56 said:
Here was me thinking Peter Lawwell met with the CSA and Celtic Trust on a regular basis and you can go on to their sites to read what was discussed.
As a matter of fact Newco was discussed at their last meeting and the Celtic Board are monitoring the situation and will make a statement once all the facts are known.
Funny how I knew that…
——
Funny indeed – you must have access to privileged information… like this ?
http://www.celtictrust.net/?func=d_home_article&id=363
This internet thingy’s well cool !
In Celtic I trust, they will do the right thing, at the right time
HH
There is a difference between ‘keeping your powder dry’ and procrastination.
Our club seems to be getting precious close to the latter.
“Things may come to those who wait, but only the things left by those who hustle.”
Abraham Lincoln
“Procrastination is the enemy of success”
Sumdi Else.
Celtic supporters meet with Celtic re SPL
Published on Monday 16th April, 2012 by Celtic Trust
The Celtic Trust and the Celtic Supporters Association today met with Peter Lawwell to discuss the leaked proposals to the SPL meeting due to take place on 30 April. PL indicated that at this stage the proposals were in draft form and may not be identical to the ones to be tabled at the meeting. He indicated that the PLC Board had discussed the various possible outcomes of the situation with the SPL and repeated his earlier reassurance to us that whatever happened the Board would act in Celtic’s best interest. However, he felt unable to say anything beyond that at this time.
We, in turn, took the opportunity to make a number of points: we pointed out that there is a great deal of anger out there among all fans of the SPL but, more importantly for our purposes, among Celtic fans. We told him that we were taking soundings from the support by a variety of mechanisms and that we would continue to do so. We indicated the strength of feeling among supporters so far that a Rangers Newco should not be allowed straight back into the SPL and emphasised the dangers to Celtic and to the SPL of ending up with a corrupt competition and a tainted product. We indicated a number of possible options that we would consider if the ‘Gang of 10’ should press ahead with the proposals which exist in draft form and we made a number of suggestions as to what Celtic PLC’s response should be if the worst case scenario came to pass. Most importantly, we emphasised our view that the Board should look beyond short term commercial considerations and should stand up for the integrity of the game and the long term best interests of Celtic FC and of the wider Celtic family.
Future meetings will be requested as and when necessary as this situation develops.
traditionalist88 on 3 May, 2012 at 15:15 said:
‘Ernie
I didn’t say ‘after’ newco are parachuted back in though, did I?!’
No you didn’t.
But as we have only one away fixture remaining this season, for which tickets have already been bought and paid for, I gave you the benefit of the doubt and assumed you were talking about next season.
I apologise if you were talking about organising a boycott for this season. Good luck with that one.
The point about all of this is that we as fans, just like the huns, are impotent here. It’s up to the Celtic Board to stop a newco being allowed straight into the SPL. They can stop it if they are determined enough. My concern is that if they sense that the majority of fans share your view and will keep paying whatever happens it won’t exactly stiffen their resolve.
I have had collywobbles about the outcome of the rangers debacle for a long time. I am now feeling extremely sick as I believe they will be released without even a community payback sentence. The greater sin is not their bankruptcy but the moral bankruptcy of Scottish football and perhaps even of Scotland itself. There is a part of me that, with the greatest of sadness, looks to Celtic Football Club to declare war even if it means dying as a consequence. Upholding honour and integrity could be the clubs finest hour. However, another part dreads such a loss to the lives of so many upright and deserving supporters and to the incomparable charity work of both club and support, nowhere more pronounced than in the presence of The Thai Tims at Parkhead tonight. What a beacon of beauty in the current ugliness of Scottish society. What an example to Scottish children instead of the depravity they witness as the norm in this ‘great little country’ of theirs. God bless all the dear Thai children and those who work, help and support them. They say the fight is best fought from inside. Maybe we should continue to do battle and perhaps someday………….
H H
Awe Naw
Port Vale have agreed a CVA.
The only difference with our problem club is that HMRC COULD be the majority creditor should the FTT complete OR HMRC argue that there position be considered when a CVA is mooted.
Ifs and buts and maybes. Could be too late if the ol switcheroo magic moonbeams have blinded us by then.
HH
TLK