The Daily Record today report: “Record Sport understands Rangers would fight tooth and nail against any move to impose more than the statutory 10-point penalty” in the event “the Ibrox side have to start again under a new name”, presumably if the existing company ceases to exist.
If the Record are, in fact, reporting Rangers’ position accurately, this is the first salvo in their campaign to gain control of the consequences of a corporate failure.
The Record go on to say: “Clubs who can’t exit administration by a CVA must hand over their assets to a new entity and after shares [in the SPL]are transferred to a new company agreement has to be reached with the SPL over a return to the top flight”.
The glaring observations from this aspiration is, of course, that agreement does not have to be reached with the SPL over a return to the top flight, and that clubs who cannot exit administration by a CVA (Creditors Voluntary Agreement) must dispose of their assets to the benefit of the unsecured creditors.
The debate is framed by the newspaper to suggest a range of outcomes of between 10-25 points is possible for Rangers Newco FC to pick-up the SPL shares and league position of the existing Rangers FC, with a 25 point deduction being wholly unpalatable to the new company.
There must be absolutely no presumption that a newly formed company, who happen to own Ibrox, are entitled to parachute into the SPL ahead of the current Scottish Football League members, or ahead of an existing SPL team in a relegation spot. In the event of a club failure the league can and, if necessary, must complete the season with 11 teams only.
Scottish football cannot establish a system whereby an oligopoly can vote on a system which stiffs creditors and prejudices competitors outside of the oligopoly. Football across the world is trying to clean up its reputation, we cannot allow Scotland to become a laughing stock. Let your club know your feelings on how they should vote when the time comes. It’s time for fans of Celtic, Aberdeen, Dundee United, St Mirren, Hibernian, Motherwell, Dunfermline and others to make their voices heard.
Read issue 3 of CQN Magazine free online here or buy a print version at Magcloud.
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James Forrest
I hear that a journalist is there as I type this.
Allegedly of course.
:)
JF enjoy your JD por cierto
shugthemug,
make that 15,001. I’m with you and I’m sure many of age group are of the same opinion.
I’d love to be in a cellic board meeting now, even in press interviews they’ve openly had a go at rangers recently
JF – don’t jinx it man, we’ve been waiting tooooo long.
Official announcement first before “busting a bottle” as my young colleagues might say.
I do hope something happens because Jim White hosting the SSN chair…
U
tomtheleedstim:
Oh don’t worry mate, the bottle doesn’t come down until it’s official. But then … oh yes, then ….
I might be very hungover when I post the following day! Haha!
Anyway,
Fans Against Criminalisation, George Square,
noon tomorrow.
F.A.C.Kill the Bill
James
I prefer the ole Southern Comfort myself,never been keen on the taste of JD.
Enjoy.
BTW – Rangers did fk all for the co-efficient.
Tv Contracts have already been signed – sponsorship deals have already been signed. By the time these are due to expire Rangers will be back in the SPL.
BTW – If this scenario happened to Celtic – I’d request we apply to the English league and work up -once a buyer came in to see the huge $$$ potential.
James Forrest
The surprising thing is, if there is to be white smoke, why are there not more journalists over on the southside?
My dear,dear,dear,dear,friend….
Great Game, huh?
That game had everything.. and Ah mean that.
Yep.. Baseball is a wonderful Game, no question.
A pity the it never took in Scotland.
My Team.. the Dodgers.. are oota everything.this year..
So Ah normally, widnae watch any of the Play off ,this time roon..
Ah did. last night…
and Boy.. ah found mysel Enjoying it Immensely.
Ah dinna care who wins the Series.. but, Ah must admit that
Ah hiv a sneaking feeling the the Cardinals wull be a tough team tae beat.
Nice Chatting.
Kojo
yer pal… who likes ye aloater
seanbhoy69 – It will not be broken to a press conference. It will be broken by a statement to the PLUS markets when they close at 17.30 I believe.
James F
Like many on here I admire your chutzpah and devotion to the cause. Much of your prose is salient and well written and no-one cant doubt your passion.
In the particular matter of the Huns demise I think you are wrong. Whether we like or not Scottish football without the Huns or indeed ourselves would cease to exist in any meaningful way. IMO our position should be one of abstention if it comes to a vote.
RIP Cambpell Christie a great man and a true socialist.
Afternoon All,
If as it seems they are due to go to the wall in one way, shape or form and will of course be back in some form in some division do we greet them with a chorus of ‘are you r*ngers in disguise’ !!
mac
For anyone interested, here’s the letter I’m sending to celtic – and I’m going to send a version of it to neil doncaster, chief exec at the SPL (Hampden Park, Glasgow G42 9DE). Feel free to adapt it.
Peter Lawwell
Chief Executive
The Celtic Football Club
Celtic Park
Glasgow
G40 3RE
Dear Mr Lawwell,
As a lifelong Celtic supporter, I wish to express my concern regarding a strong rumour that a ‘newco’ version of Rangers will apply to be quickly admitted to the SPL should the existing company be liquidated, incurring a mere points penalty. I would like your guarantee that Celtic FC would oppose any such move and canvas support from our fellow SPL clubs to do likewise.
I speak only from a profound desire to see fair play prevail. Rangers, unlike our club under your leadership, have been financially irresponsible in their pursuit of success for a considerable period of time, and it cannot be countenanced that such profligate ‘financial doping’ is met only with a slap on the wrists. Celtic, and other clubs, have suffered because of this in terms of on-field success and the financial rewards which that returns. Furthermore, surely if a member club is able to reinvent itself in order to escape its debts, this would set a terrible precedent that other clubs would be entitled to follow? And surely such irregularity would make lenders and businesses loath to extend credit to SPL clubs, a situation that would be perhaps fatally destructive for our top-level game?
Mr Lawwell, a few years ago you rightly spoke about the importance of ‘sporting integrity’ in our league, and very credibility of the SPL would be wrecked should this effort to save (a version of) one favoured club succeed. If Celtic were party to this then myself, and many other Celtic fans I know of would find it unconscionable to continue supporting the club, and therefore the SPL, financially.
Yours sincerely,
RogueLeader:
So this will have to be announced in the next half hour if it’s on?
Can they make the announcement after that?
S69
Nothing will be happening today, the stock exchange has closed,no announcement no news, next week, month, soon I hope.
maccargo
Can we still call them huns?!
DBBIA
Ha – Ha
BlantyreKev
Ole Cloughie had the other county down in a brown envelope.
Bhoys, not been online today. Anything stirring re:cash flow issues across the way? Are they still in business?
Been fitting a shower, checked phone when I was finished and got this
Message ‘Huns burst’ any more info? Nowt on SSN.
V
LSE Hours of Operation
Trade Reporting 07:15 – 07:50
Opening Auction 07:50 – 08:00
Continuous Trading 08:00 – 16:20
VWAP 16:20 – 16:30
Closing Auction 16:30 – 16:35
Order Maintenance 16:35 – 17:00
Trade Reporting Only 17:00 – 17:15
Read more: http://wiki.answers.com/Q/What_are_the_trading_hours_of_the_London_Stock_Exchange#ixzz1c5p0yPK5
RogueLeader
I understand that mate but surely there would be a crownd of journalists around should it happen?
That Last Submission wiz tae. . My Friend.. GG
Kojo
All this endless preoccupation wi’ the GA!
Spare a thought for the unbounded distress of Celtic’s handsomest supporter, on hearing the news that his beloved SAAB Motor Company has just been taken over by a soulless Chinese industrial giant.
And i suppose that there’s gonna be another boring Celtic Quiz on here tonight….Ah’m away off to chat to my Mendacious Magical Mirror…see ya!
JF – I think, I may be wrong, but an announcement such as that would be made once the markets close.
As I said, I could be wrong.
The stock market announcement would come prior to a press conference however
I won’t be celebrating anything if RFC enter administration. While it will be a victory for those who have cajoled, pushed and ultimately, forced the truth about their financial position, administration (or the pre-pack admin expected by those in the know) will mean, ultimately, RFC have stiffed the taxpayers and other debtors for tens of millions of pounds.
As others have said, the attitude of those RFC fans I’ve been talking to/tweeting/FB-ing today, seems to be “so what”. A lot of Celtic fans who read blogs like this have mocked them for this “head-in-the-sand” approach (rightly so). But if the SFA/SPL, aided by the likes of the Record, simply let the scenario Paul67 and RTC have outlined, then their breathtaking arrogance in thinking “so what”, will have been vindicated.
This may be a short-term victory but RFC fans may well be laughing long-term. That sticks in my throat, for sure.
The Celtic Board, fans, the Celtic family know what they have to do now. Expose this charade for what it is and ensure that RFC have to apply for SFL membership for season 2012-13 as a new football club. It’s the only way we retain any integrity in the game, ensure any sense of fairness or equity.
People say that we need them, that Scottish football needs them. I’m willing to gamble that we don’t. This may need to be elevated to a political level in due course – £50m of OUR money down the swanny and Whyte walks away with a profit? People are going to tolerate that?
Cheers,
P’s C.
I posted this in the middle of the World Series.
Forgive my self indulgence but I thought since the topic is being discussed again and James Forrest is suffering some barbs, I would post it again, since James commented favorably.
‘GG says:
28 October, 2011 at 03:12
There’s been a lot of speculation today and tonight on how our board would act and react to the financial meltdown in Govan.
The predicted actions of PL and DD reflect many of the long held prejudices against particular board members and expressed regularly on CQN and other sites in Celtic Cyberland.
MerseyCelt urges a pragmatic approach arguing it would amount to financial suicide if we exclude Scotland’s Shame from the SPL.
Did he advise Bush, Obama, Bernanke and Geitner, who incidentally didn’t pay his taxes, to throw good money after bad to benefit Goldman Sachs? And look where that has left us.
I refer him to one of Paul’s memorable lines from blog above (let me check what it was he said ;-) )
Whatever part of my club is dependent on Rangers I am willing to lose.
Across t’internet this sentiment is a beacon and rallying cry for a vast majority of our fans.
We Celtic, the incomers, the unwanted, the despised, the tarrier upstarts, will be carrying Scottish football’s financial future on our broad and willing shoulders.
A period of sanity will then prevail and other clubs will see our prudence as a virtue.
The authorities will dare not turn a blind eye to the cheating we have lived with since before even my time.
If you look up the Rangers wiki entry you can find the following:
The club have traditionally been identified with and favoured by the Protestant and Unionist community of Scotland, as well as the Unionist community in Northern Ireland
To allow the morally bankrupt practises from Edmiston Drive to be ignored and therefore encouraged, is to say that the SFA and SPL exists to ensure the greater glory of the establishment team to the detriment of every other club and their fans.
I want to awake tomorrow and read “Rangers no more.”
If I do then I pray that this would mark the beginning of a new era in not just Scottish football but also in Scottish society.
Dream Big or Go Home
Betrayed
The priest was awoken when the door shut,
The danger of hearing confession in an old hut,
What had he been saying, how could it be true?
Something about rangers, reborn anew!
He must have been dreaming this lazy old priest,
Surely the establishment wouldn’t allow such a beast?
What had he been saying, had he heard right?
“Tell the Tims they’re too late to put up a fight.”
Came out of the confessional but he had gone,
In an empty church he stood like a pawn,
What had he been saying, decision was made?
The old priest shivered feeling betrayed.
THE EXILED TIM
They have certainly paid their bill to Strathclyde Police recently so there is some money around.
RL
I think it must be made before 17.15 could be wrong, just read a wee bit more, still can’t get the head round it all.
blinkin medication
fall asleep for an hour wake up to 3 pages of nothing happening..
wake me up when the rankers end……(song in there somewhere)
S69
Somebody out there is keeping them afloat, who that may be…..
Sad to see Campbell Christie has passed away
Once took a case all the way to the the SFA disciplinary committee
Yorkston from Dunfermline chaired, grade a Ar**
My god what a load of dummies i had to listen to as i the battled through the system
Cambell was very decent indeed, asked genuine questions towards me in a humane and respectful manner, one of the very few on any committee who genuinely wanted to know the truth of the actual case.
How many Tesco Club Card points do you get if you renounce the Orcs?
And to be honest I am much more concerned that my beloved Celtic get the 3 points tomorrow.
How would the support for a new hun team be advanced if two or three member clubs abstained from the vote ? the motion requires 90%, 90% is impossible to achieve if enough clubs abstain, no ?