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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Good news,folks.
Back in the ever-loving bosom of my family for ten days of quiet living in Kilwinning.
I doubt I’ll be on much,my Dad’s broadband averages 0.63Mb-aye,that’s right!
TALKTALK will be hearing from me on Monday…..
Anyway,I see the usual suspects are saying we should just roll over out of expediency.
Sometimes I just feel like screaming.
PAUL67
Was wondering if you could let me know what you think of Greekster67’s excellent post on Pg6 at 16.08, how does it square with your
information based on the last two excellent articles from yourself. Aw Naw also posted some relevant info on the last thread which again
offered hope that CW won’t quite get it all his own way
Keep up the excellent work
Hail Hail
Stephen with a “PH”
Sorry to jump in bhoys. Curiosity killed the cat etc.
A poor link so only skim reading.
Two questions.
Who represents HMRC at these secret meetings ?
What part of the HMRC will not issue a vat number to Rangers Newco so they will never trade do you not understand ?
Old firm united wet dreams. Stop revelling in it.
Stop fighting. Look out for personal prounoun abuse. Support the team tomorrow for 90 mins and that includes our beloved sieve.
HH
My dear,dear,dear,friend … The Singing Detective
Me.. Sydney Devine?
Na..pal.. Ah am no.
Ah think that he is in Glasgow …or.. wull be soon ,oan Tour.
Anyway, Ah wuz much Bigger than Sydney.
Noo Ah am a Man of Business.. still In Show Business,though.
Kojo
yer pal..who likes ye aloater.
So it appears that the orcs live to fight another day despite the twitter rumours…
Keep the Faith!
Hail Hail!
Kojo says:
28 October, 2011 at 17:22
In the middle of reading Moneyball joost noo.
Looking forward tae the movie.
Bournesouprecipe @ 17:41
And if we play the second half tomorrow as we played the first half on Wednesday I can see a 4-4 draw
Evening bhoys
not been on as much lately been busy with rileys jnr hes a hand full lol. if the huns do go down the tubes and form a newco everybody in the celtic family should unite and make tem start at the bottom other wise it will just be cheat your way to wat you want and well welcome you back
mr desmond and mr lawell do what the fans want for a change please
HH
mickybhoy
Confused.com :-)
The suits at Celtic should realise that Rangers do not need our help, for they already have the sympathies of almost every institution in Scotland. They will survive and will do okay out of all this, relatively speaking, and we should not be making it any easier for them. A short spell in the wilderness will probably do them and Scottish football a world of good.
Well, if he’s not a hun, can he be advised not to make posts that can be copied onto FF for their amusement. Smarten up, lad.
Maccargo – I hear you, tho I’d have Kayal on bench, not Ki, and Wanyama in.
Hail Hail
Robert T/Sammi .
If you are indeed Sammi ,do me a favour
GET YER BLOODY HAIR CUT
hail hail
DBBIA if yer still about
AMAZON let me down so I re-ordered for delivery in Kilwinning.
It won’t arrive for tomorrow,but I’ll leave it on Thursday.
Sorry,I cannot e-mail with this damned valve-powered laptop/broadband setup
anyone get the feeling we have been sold one today to test the waters for reaction?
weeminger says:
28 October, 2011 at 16:31
How would people feel if it was announced that NewCo would fulfill Rangers fixtures this season starting from 0 points but would automatically be relegated to a new SPL2 next season regardless of finishing position this season?
It’s not really what I’d favour but I’m trying to see some ground between keeping them in SPL and NewCo starting from the bottom. Gives the impression that justice has been done if nothing else.
Just catching up with the blog – have posted a few times in the past 6 months that reconstruction will provide them with somekind of parachute.
2 x leagues of 20 = 38 games (SPL status quo).
Would expect a vote for similar EPL/ Championship (promotion/ relegation) – 3 down 2 up. The SPL strugglers and the SFL wanabees would love it.
Play-offs for 3rd place between teams finishing 3-6.
Newco youth team should be capable of making top 6 – what betting they would get serious ‘loan-player’ help from down south?
Punishment – 1 year in the wilderness max!
There’s too much defeatism here. Who would swap places with the huns right now? (apart from the league, ahem, but that will be sorted).
Our role is to exert pressure on the board to ensure they fight our corner. We have the power to do this, and therefore the power over the unspeakables.
Happy days!
See you in George Square, that’s step 1.
Does anyone know if the SFA have any say in this? It was pointed out to me today that the SFA President has been in charge of the two of Scotland ‘s debt ridden clubs as company secretary responsible for all financial matters. Look what happened to his predecessors club!
Is it a prerequisite of the job?
Bhoys
Whats happening then with the orc’s
BBCchrismclaug Chris McLaughlin
Despite frenzied speculation, #Rangers will not be going into administration this evening.
A Mad e Us 17.47
Oh Dear!
Surely you can come up with something better than that.
What about a cowardly Hun?
TT
James Forrest is Lennon @ 17:50
When I was 5 in 67 I saved a bottle of Garvies limeade for the next time we won the big cup the way things ate going I have more chance of opening it on my 100th birthday by which time I hope to be getting a telegram from the daughter of Prince Billy who has married a tim
Tiny, they used your post to give themselves succour on FF.
You silly boy!
Hi Ghyus, Salve salve;- Snake before we consign their history to the dustbin, can I take a dump in it before we put the lid on?
Greenwells
Pacta Sunt Servanda”
TinyTim says:
28 October, 2011 at 16:11
‘Ernie Lynch 16.01
Thats post is a joke.
I posted many times that the Darnel will come out of this OK and will survive and be our mortal enemies forever.’
As I said, vague and inconsistent.
You argued that their financial difficulties were overstated and they would survive.
danso_1888 says:
28 October, 2011 at 18:00
Yup
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS says:
28 October, 2011 at 17:51
How the he’ll can you live quietly in Kilwinning with the constant band practices going on
A Mad e Us
I am banned from FF.
They recognise my USP and i can’t even browse.
Such a pity ,as i would have had a gander.
TT
Tiny,
does it occur to you that you screwed up?
They think you are a “sensible tim”.
Ever hear a bigger insult?
Ernie Lynch
I still do.
They will.
It’s just the finer detail that none of us know.
TT
TinyTim: 28 October, 2011 at 18:12
Depends on what your idea of survival is, I suppose.
mickbhoy
I get that in Irvine too, waking up on a Saturday and the they’re outside your window.
Flute in mouth disease!
Lennybhoy…Supporting Neil Lennon and CFC until I die says:
28 October, 2011 at 17:54
LSE being closed didnt prevent takeover announcement late in the evening!
TinyTim says:
28 October, 2011 at 18:12
Are they insolvent?
Will the legal entity that is the huns trade their way out of this or will they go under?
A Mad e Us
I am a sensible Tim.
TT
can you imagine derry city or belfast celtic being given this leeway or us for that matter
Technical advice required:
Just downloaded Chrome, why I did not do it sooner…
Anyway, trying to uninstall Internet Explorer and cannot see it on my programs?
Anybody help?
Keep the Faith!
Hail Hail!
Chris McLaughlin from BBC has been on twitter saying there’ll be no administration tonight. Monday perhaps?