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.
568 Comments- Pages:
- «
- 1
- ...
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- »
chairboy – the blue nights composium seemed to be good news for the rangers and bad news for us at the start. then that fiddle player joined and it all went a bit bingo bango. i still want them to get the rangers as they are potless and wanted ticketbus to help them out. millster is a real business mongol. not like whyte who ma mate beano spotted a mile off as being a puddle floating herpes experiment. millster is the reel deel and we need to be worried about him. if he gets through the due dellictation period and buys the rangers things will change. the rest of the folk attached to football can see a guy like him with his money is good for the game up here. guys like keith jackson and hugh keevans who have been spot on all through this will be bumming this guy to high heavens. the league will bend over backwards for him because it will bring the dough into the game. but what about us. we will be second again as they run ramparts over everything. i am pure raging about it
mon the hoops
Rougeleader, red faced??
there is one compelling reason why Ernie cannae meet Lawell.
Ernie is Peter
Simples
HH
And joint administrator Paul Clark told BBC Scotland: “Mr Miller felt comfortable enough to be able to remove the conditionality from his bid, so he clearly feels he has the comfort to move forward.”
When pressed on whether Miller had been told Rangers will remain in the top flight, Clark replied: “It’s my belief that that is one of the assurances he has received, yes.”
If, and I know that it’s only “if”, the above is true do you think it could be more bent than that?
My dear,dear,dear,friend..Arty
Pal.. Ah see that ye REASONED it oot… which is quite an
Accomplishment..
No miny kin sit doon.. and… Reason.
and the Reason fur that..is that..
well.. Some Folk.
Jist CANNY .. Reason.. fur.. some …well.. Reason.
and.. Like ye Concluded..
Celticfc wull jist hivtae.. keep a Steady course..
And Hope that Everything Woiks Oot… fur Us.
Kojo
Yer pal. who admires yer powers of.. Reasonin’
I rue the day I ever listened to WeeWullieBluenose’s hideous ear-worm of a song. All I can do is endlessly parody it. This is the non-obscene one.
“We are Bonkers
Truly Bonkers
We can’t go sneaking away
Let them hear us say
We will never pay
We don’t do paying our way.
You can hear us choking
And we’re almost croaking
But we don’t do paying our way.”
I’ve even played Rammstein at high volume,but the bloody thing won’t go away.
RogueLeader
Did you leave your PC unattended with Declan in the room?
The Onlooker
RogueLeader @ 16:25,
Apologies – I was talking to the Organ Grinder
TLK
I am not familiar with Port Vales CVA but know that HMRC knocked back a 3 p in the pound deal.
What did they end up with ?
If Rangers manage to parachute into the SPL then it is fair to say that the Austerity measures introduced by George Osborne at his emergency summer budget of 2009 (will be pie in the SKY)
That will seriously F.U his intentions if clawing back at least some of the deficit
I think the FFP will be abandoned as well within UEFA
And the ECA would also be disband overnight
I would then be surprised if the UK government didn´t take on UEFA and FIFA
Hail Hail
Aw, is Declan’s cover blown now? Pity!
Good work though. Very entertaining it was.
neveralone on 3 May, 2012 at 15:58 said:
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?
___
It’s a bit liek the Wookie defence.
Anyway, you’d think that their audited accounts in future will have a more realsitic value on assets like Ayebrokes, no accountant is going to put their name to a value of £100M for that ever again.This will of course mean that with their assets more relalistically valued that they will have to operate on smaller budgets, as theer is less to secure against loans.
Alasdair Lamont @BBCAlLamont
Paul Murray and Blue Knights say they’re “surprised and disappointed” bidder going for Newco route has been named preferred bidder.
Larrybhoy on 3 May, 2012 at 16:13 said:
>>>
HH! Larrybhoy. Are you skivin’?
With the current state of play at rangers , Celtic should be asking the question ” what happens without rangers ” . The SPL board need to have a plan b without rangers as not to do so would be a dereliction of duty. If Doncaster and the SPL board discover at one minute to midnight that rangers are gone or caught up in legal battles then the spl / clubs will have little time to have a practical solution.
Celtic do not and should not put out statements in my humble opinion. It can start by asking pertinent questions starting with a genuine concern for the spl and Scottish football
– what is the Doncaster and spl boards plan a
– have the SFA agreed
– what is plan b without rangers
– have UEFA agreed
It is time Celtic asked the right questions and put some people in the corner. This already could be happening through confidential letters via celtics lawyers ( as a minimum this should be the case ). Speaking to a few people the Celtic position is not known by the relevant authorities.
It’s time to start this game of chess.
READ FROM BOTTOM UP
Rangers Tax-Case @rangerstaxcase
@GrahamSpiers Credible comment from the man who believed that David Murray would pick up Rangers’ tax bill?
4m Rangers Tax-Case @rangerstaxcase
@GrahamSpiers And he has said the same to multiple sources- not guessing at all.
4m Rangers Tax-Case @rangerstaxcase
@GrahamSpiers This is acceptance of RFC’s fielding players they could not afford for a decade = acceptance of cheating.
1h Paul Bradley @BhoyPaul
@rangerstaxcase @mattslaterbbc Won’t get away with no penalties if/when dodgy contract proven
1h Rangers Tax-Case @rangerstaxcase
@BhoyPaul @mattslaterbbc Doncaster has made it very clear in private briefings- he doesn’t care about the cheating. He wants RFC in SPL.
10m Graham Spiers @GrahamSpiers
@rangerstaxcase @BhoyPaul Wrong. There is wild guessing going on here everywhere. I’m critical of ND but in private he’s done no such thing.
5m Rangers Tax-Case @rangerstaxcase
@GrahamSpiers He has made it clear that he sees 2 contracts as a trivial issue & for HMRC to deal with- trivial breach of SPL rules…
READ FROM BOTTOM UP
its hard to justify releagting a team this season, while rangers are allowed to continue unhindered
tomthelennytim on 3 May, 2012 at 16:27 said:
I would not believe a word that either of these administrators spout forth. They talk a lot of BullS****. They even back tracked on the conference they did at noon by 3pm.
If he said today was Thursday I would still check the calendar.
The administrators are talking about the process being completed in a week.
A WEEK. That’s the timescale here.
They can have a new corporate shell set up in ten minutes. They can send out the requests to the SPL/SFA right now, to transfer the share. The asset transfer can be done in jig time.
This whole thing can happen at breakneck speed. I can see circumstances where this can EASILY be done in that timeframe. Rules will be bent, precedents ignored, regulations shredded. It can be prevented as fait accompli and we would be forced to accept it or choke on it.
I repeat again, their cards are all on the table, face up. They have made plain exactly what they intend to do, and they claim to have been given ASSURANCES that it will all be allowed.
What EXACTLY is it we are waiting for here?
Graham Spiers @GrahamSpiers
I know it’s an unfashionable view, and will tip the Celtic hardcore over the edge…but this Bill Miller incubator-plan could work.
Vmhan supporting Lenny and his Lions on 3 May, 2012 at 16:05 said:
>>>>
i’d buy that. Seriously. Count me in & tell me where to send the money.
Sky & ESPN are gettin’ the elbow. I resent them,their commentary,and most of all,I hate myself for supporting that gremlin,Murdoch.
James Forrest
I read two weeks due diligence
I think we are waiting for the end of the season. No more income in other words
Also you have to understand that international bank transfers take 5 working days at least.
HH
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 3 May, 2012 at 15:21 said:
I share your disappointment but am not at all surprised.
Dusty’s, Business Plan is ..Merely,Old Fashioned..
Jabberwocky!
Which Is…
Nonsense, dressed up in a Suit o’ Mumbo Jumbo.. and Weerin’ A Hat… o’ Irrationality!
Who said That?
Why. Ma Pal.. Nutsy!
And. If anybuddy, Knows aboot.. Jabberwocky..
it’s.. HE !
Kojo
Still Laughin’
Frankly
if the huns are allowed to do this and the sfa/spl etc collaborate- then i wouldnt even watch the goals from a scottish game on the news
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 3 May, 2012 at 15:31 said:
Ernie pointed out yesterday AND QUITE RIGHTLY that we are not the masons
If Peter Lawwell has anything to say he can say it to all of us
I find this haranguing of Ernie very poor indeed.
====
I agree totally. However if Ernie is afforded an opportunity to directly ask PL a few questions he acceptance to do so would be rendering us all a huge service –
my questions would be
1. Are Celtic PLC in anyway complicit in allowing a Newco to join the SPL?
2. If not what did the PLC do in an attempt to prevent entry of a Newco Rangers into the SPL?
3. The Support demand action what do you intend to do to ensure that an entry of a Newco doesn’t have a detrimental effect on Celtic FC and the Celtic support? We expect you to clearly voice our objections through every appeal and Legal Avenue open.
4. Will you actively endorse measures such as a fans boycott of away grounds and refuse to allow TV coverage of Celtic domestic fixtures?
Speirs blithe comment about it “tipping the Celtic hardcore over the edge” is emblematic of precisely what we are up against here.
This affects every club in this country, ever fan in this country, the integrity of the national sport, the very notion of justice, the idea of living within your means, the concept of paying debts, the mere suggestion that prudence is a virtue.
Why is it only the “Celtic hardcore” will be outraged?
We are NOT the only ones here who think this is a disgrace. Why isn’t the entire press corps – including him – saying the damned same thing?
deekbhoy on 3 May, 2012 at 16:38 said:
That is a very fair comment mate and I agree. However, do you think you can trust Neil Doncaster after the briefings he has been giving this week to the msm??
Looks like I might have only 2 more games left as a financial supporter of Celtic.
Because if this all pans out the way the way the huns want it to, I’ll never give the club another penny!
Oglach
http://www.celticquicknews.co.uk/?p=8878&cpage=8#comment-1407896
Sounds like Paul67 would be wasting Ernies time
Hail Hail
Awe Naw
Port Vale
Don’t know how much HMRC got but Council got about 46p so assume all creditors got equal.
The point here is that we all know a CVA will not happen but there is so much leeway in the existing SFA, SPL and UEFA rules for switcheroo-ing that RIA will get the best of all worlds as always. There is no will within those in charge for ANY other outcome. We either kill ourselves or become the bad guy (see Eric Drysdale for how well that goes).
We are then left in a position where there is a COMPLETE breakdown of trust between us, our own club (because many us always assume Celtic act for the worst) and the football authorities. What used to be called “irreconcilable differences” in the divorce courts.
There has been and will not be any acknowledgment of wrongs and no discernible nor material consequences.
Scottish society can do without the violence not having Rangers will cause. The violence they already cause is acceptable because the victims are 2nd class citizens.
The rest of the UK could not give a stuff – really absolutely not one bit – ask Alex Thomson.
The Govt will do f all for the reasons above and in any case HMRC always gets stuffed by football. Far more important to ALL ra peepul.
You are probably right about the FPP stuff melting away. The Govt won’t do owt – this is small beer in the scheme of stuff.
Scunnered.
HH
TLK
Why did Minty no go into administration
I’m not buying this…
Business rules and regulation are not in place to protect morality but to ensure the economy can function properly.
If today’s ‘Miller plan’ is to be believed any company can run up debts, avoid tax and then reinvent itself before paying any bills?
It’s all horsesh*t IMO.
No way do they get away scot free.
More to come… D &P desperate…
Time now for Celtic Board to press the nuclear button.
Submit notice of resignation, siting the total disregard for sporting integrity as reason. In the ensuing 2 years:
Tell SFA that we expect them to address this disregard of sporting integrity, disband SPL and set up new league where UEFA financial fair play is a pre-requisite for clubs entry. Also tell them that we expect all trophies won by teams whilst cheating should be removed from record books.
Tell UEFA why we have resigned, tell them we expect SFA to sort the mess out and tell them that we expect UEFA to ensure the SFA do so.
Sit back and watch the carnage.
TV deal binned. Potential new sponsors to replace Clydesdale Bank run a mile. Administration beckons for several clubs who put a TV deal before sporting fairness, what their fans want and what is the right thing to do.
What an extraordinary day.
Yesterday CQN was cock-a-hoop at the prospect of Bill Miller taking over.
Today we seem to be split between it’s still great news and it’s a disaster.
Even more extraordinary for me is the fact that,for the first time in my living memory we have Celtic fans and rangers fans united in their distrust of the game’s governing bodies (albeit for different reasons).
A time for calm heads? You betcha!
TLK
I buy about 5% of that last post
We can reassess how accurate by June the 1st.
Hail Hail
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 3 May, 2012 at 16:40 said:
International bank transfers are instantaneous these days through SWIFT or Federal Transfers.
James Forrest is Neil Lennon! We are ALL Neil Lennon! on 3 May, 2012 at 16:44
Cos he will only get employment on CQN magazine that is why
Hail Hail
Very good point made on KDS by TinyTim;
Right folks, so as none of you are in any doubt I will give you a real life example of the Bill Miller switcheroo. A few years ago my company decided to buy out another company that was winding down after trading for twenty five years. We started a new ltd company with companies house that had the same name as the company we wanted to buy (sounding familiar yet?).
Anyway, we bought the company logo, website, equipment, goodwill etc and transfered all the assets over to our new ltd company. Trading carried on as normal and as far as the customers were aware nothing was different (they were being provided with the same service so why would they).
About a year into this new venture our marketing guy realised that the company we bought the assets from and closed down had been the longest established in it’s particular sector. To that end we started an advertising campaign telling everyone that we were ‘Scotland’s longest serving blah, blah, blah’.
About a month later we get a call from TRADING STANDARDS. You see it turned out that due to the fact we were running the operation from a new ltd company that meant we were, “a seperate legal entity from the previous business” and as such our advertising campaign was both misleading AND illegal. Needless to say we pulled the adverts and thought up something different.
Why am I telling you this? Because we found ourselves in the exact same situation Rangers are in right now. If he starts a new company called ‘Rangers’ using the same badge and customer base but claims that his company are the same as the one from 1872 he is in direct breach of trading standards law. End of discussion.
Of course, in order for the authorities to know about it someone would need to inform them …
Zero has nice ring to it don’t you feel?