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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test
Seems like the mood of the blog is split.
One lot thinking they have won, others thinking they are still fecked.
I don’t have a feckin clue how this will pan out.
But you can’t bet you life that the powers in scotland will do everything in their powers to assist the cheats.
Reports from Ross Hall say that Alistair McCoist has been admitted to have a Brave Face operation.
No problems are expected and if all goes well, he will make a post-operation statement later today on Rangers future.
Alex Thomson
D&P Rangers Administrators
didn’t mention Taxman. Didn’t
mention Ticketus. Didn’t
mention Craig Whyte. And they
ask RFC fans to buy this?
Ghuys
Time to start putting the boot in.
All taxes owed which powered the cheating should be re-paid. Therefore, the £15m unpaid in PAYE ,NI this year should have a corresponding sporting sanction. All prize monies for future years for any Newco playing at Ipox withheld until the £15m is reached. I prefer this option rather than some points penalty.
When the dual contracts are proven, all titles removed and the license removed for any Newco playing at Ipox for the same period of time, as the EBT cheating.
Seems fair to me!
Well not being a Money man I cant follow the events happening at Ibrokes but I have allways held the view that they will not die the establishment will not allow that to happen.The bottom line for me is that no Newco should be allowed to start life in the SPL if they manage to engineer themselves into the Spl. I will be fiishe with Scottish football.Cheat me once I was caught out but cheat me twice and I would be stupid.H.H.
My understanding of the SFA statutes is that if SKY now refuse to take up the TV deal that they have offered then Rangers FC shall also be liable for that contract and will have to reimburse the SFA and any affected members.
Hail Hail
SHUT THAT DOOR
tully57 – Reports from Ross Hall say that Alistair McCoist has been admitted to have a Brave Face operation.
Film idea: “Face/Off 2”, starring Ally McCoist as the rotund baddie who steals Neil Lennon’s face in order to steal all the pies at Celtic Park. (thumbsup)
Not had time to catch up with any of the posts on here today or next door at RTC so apologies if somebody has already covered this.
Imagine you are the civil servant at HMRC who has principal responsibility for the RFC(IA) exposure/recovery. Imagine the conversation you would have to have with your boss if you didn’t try and interdict this asset sale to Wild Bill. £11.2 million for Ibrox, Murray Park, the players and the league share is the offer on the table. Apparently this represents a better value for creditors than they would get in a liquidation of RFC(IA), even accounting for depreciation of assets in a fire sale. Yer Arse it does
If I were Hector, I’d be sending in the cavalry. Time to lawyer up D&P.
Oh and asset sale to newco means there’s a new team playing in the league next year (whichever league that is). A transfer of a share to a new member means there is a new member of the league, means there’s a new club. No history, no trpohies, no nothing; a hideous wannabe frankenstein nothing.
Awe_Naw,
The lack of a football creditors rule works the other way too,
If I was a company they owed money to and it transpired that some debts were paid while mine wasn’t I would be consulting a solicitor.
And in case there be any doubt among the succulents , one man, David Murray caused this..
How many MSMs will try to speak with him today and ask real questions ..
Shame on them .. Scotland’s shame..
Mon the hoops!!
Gordon_J
(i) to a person who is not the owner and operator of a Club;”
Key point in all this. At present there is no “newco” let alone a football club. What constitutes a football club could be important.
Do they apply for the share transfer before stadium, players etc are part of “newco” in the hope that they get approval or do they transfer all assets first with the difficulty that if share is refused, the old Rangers Plc will have a share but no stadium or players.
To further my understanding of this. They are hoping to transfer their share to another football club (newco) and with that “share” is supposed to come all history and most importantly the points won by Rangers Plc this season. Could Celtic for example transfer its share to East Stirlingshire (this is a company operating a football club) and would they then receive all our points for the season and become SPL champions.
Mort
What say do HMRC have on this they pushed the admin thru can they not stop the buy out as no CVA can be agreed therefore sell assets and pay off as much as possible??
The Pantaloon Duck,
Thanks for the reply. “Years”? Really a possiblitly?
Aww hell.
I’m a bit scunnered with this whole thing. :-(
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 3 May, 2012 at 12:57 said:
>>>>
Don’t get p*#*#d off with me,cos I respect your posts a lot,but this is the point I was trying to make yesterday : this is a fraudulent stitch-up masquerading as business and good governance. It seems that rules and regulations are being tossed out of the window in order to keep RFCIA going,no matter what.
It’s truly disgraceful,but what can we actually do,in a concrete way,to put a stop to all this mendacity?
I ask,because I live a long way away,but I’m willing to do whatever I can.
This debacle has gone on,unhindered and abetted by the ‘establishment’,for long enough. HH.
EKBhoy
Aye, that would be fair, but we both know that it ain’t gonna happen
If it looks like rangers, smells like rangers and plays like rangers. The Newco will be dragged through court for years to come for outstanding liabilities.
Lets not forget Craigy Bhoy mortgaged off all catering income for an idefinite period.
Walter Smith had the audacity to sit in front of people last week to say it was White’s fault.
Him and Murray ar the main culprits. Heavy unecessary spending especially during the 9 in a row era and beyind.
Anybody suggesting that Smith never knew anything about all this is not telling the truth.
Gordon-J
Yeah me too but the solicitor will tell you that football is untouchable and you are wasting your time.
The creditor could and should IMHO try and take on UEFA
If the creditor tries to go via political avenues the politicians will tell him to back off.
In the past I think the Celtic PLC Board has been guilty of taking an overly low profile, almost supine role when a strong voice was needed.
One glaring example of this was the CIS Cup Final when there was a need for a strong statement from the Celtic Board condemning the fawning comments of MacAskill and Corrigan who praised the bigot choir. They stayed schtum.
Wrongly in my view.
However the present situation is so complex and constantly changing that the Celtic Board would be issuing statements every few days about matters that are still in a state of flux. They would look stupid reacting to the ever-changing circumstances. Today’s preferred bidder might be history tomorrow.
Better for the Board to wait and see what transpires in the coming days between Miller the SFA and SPL…… and then speak out.
But the Board will be constrained by collective responsibility, and commercial considerations. If the SPL members decide on a course of action then Celtic FC as a member club are bound by that.
The fans are different, as we have no baggage other that our priciples. We can do what we think is right and that may or may not please the Celtic Board, the SFA or the SPL.
I have confidence in the various intelligent and articulate figures in the Celtic fan-base, not least of whom our own Paul, will be ready when to act in articulating our views when needed.
The Celtic Trust has in the past shown themselves to be a good honest broker to act as a conduit for all the interested fans groups and they will be crucial in keeping us together so that our actions are as one.
Mort,
This must happen in the close season so that issues about results and points are irrelevant.
SPL articles define: “Club means the undertaking of an association football club which is, for the time being, entitled, in accordance with the Rules, to participate in the League;”
To my mind a new or off the shelf company called New Rangers FC Ltd or whatever would not qualify. To be entitled to participate in the SPL it would need access to a ground for example – own one or lease one. There will be other requirements too.
Bottom line is that the share must be transferred to someone who owns and operates a football club, not just a company with FC in its name.
miki67 on 3 May, 2012 at 13:13 said:
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 3 May, 2012 at 12:57
That was not a post from me but an exact quote from the SFA handbook article 14 Prohibition on Transfer of Membership
THE EXILED TIM on 3 May, 2012 at 13:08 said:
>>>>>
That seems to be their ‘plan’: divide and conquer,muddy the waters,tell big and little lies long enough & loud enough ; maybe everybody’ll throw in the towel and it’ll be bidness as usual. Move along,nothing to see here.
Well…if that is so,I am not buying it.
Boss Hogg Miller has so far refused to speak to the rangers support and informed Duff&Duffer yesterday he would be witholding the £500,000 if there was a protest against him at the match.
Loving this guy already…
At times like these I wonder:
What would Smeato do? (thumbsup)
I believe this is D&P dipping out having milked the situation for as much as they can. I’m sure they know this will fail but they’ll be offside by then (unless Collum is in charge!) and won’t care. Then enter the liquidators.
Has Millers bid no got strings, sorry ropes, sorry heavy chains attached???
Lew Grade, ruefully reflecting on the disasterous movie ‘Raise the Tianic!’; ‘It would have been cheaper to lower the Atlantic’
Bill Miller is about to find out just how big a bargain ranjurz(ia) are. Only a complete moron would actually commit themselves to the world of pain that is ranjurz(ia)
So when does Craig Whyte make a statement??
Scottish football is a Hunocracy
Governed by The Hun for The Hun.
What do you think will happen now ?
Rangers Tax-Case @rangerstaxcase
D&P spin on liquidation: The truth is- Company SC004276- The Rangers Football Club plc will end up with status of: LIQUIDATION
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Expect Duff and Duffer to be removed soon by angry bears carrying pictures of the Queen..
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 3 May, 2012 at 13:20 said:
>>>>
I get that. RFCIA seem to be making up new rules as they go,and the-powers-that-be apparently acquiesce.
It’s a confusing mess. And that appears to be how ‘they’ want it.
http://www.millerind.com
Is this tow truck big enough to carry a stadium or a cr@p football team?
Post on a Sunderland board
Darlington Rangers FC 2012
——————————————————————————–
‘If you remember I was the first to raise the seriousness of Rangers plight had pelters for it.
Well I have it from the same authority that the USA consortium are in talks with the Darlington (Management / Administrators etc) to dissolve Rangers FC and Start again by taking / merging with / call it what you want with Darlington.
There are no rules in the Conference that prohibit them form playing in Scotland (Gretna already have) they can then come up into the League 2. The League have no rules barring entry via promotion from teams outside of England. 2-3 years later, the Premiership.
The reason the administrators are taking so long is that there are discussions at length finalising the legalities. Hence another reason why Darlington have left The Arena.
You heard it here first!’
Was ther not a couple of anti Miller banners last night?? Bang goes another 500K
If we are struggling to decide if this is good or bad news, imagine the mayhem across the divide. They were sold on the Blue Knight fantasy and that Big bad Bill was the devil incarnate . . . so what do they believe now? Will Dawyll and Shug explain it to them?
Watch the Laptop Loyal fight tooth and nail to convince you they can keep their history (sic).