Rangers Newco cause picked up by media

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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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  1. 67Heaven ... I am Neil Lennon..!! Tick Tock !! on

    Forgot to mention….20 fags a day, also….!!!!!!!!!!!!!!!!!!!!!!!!

  2. Thought I would throw a few names into the Scottish bands debate, whom I haven’t seen, but deserve, a mention

     

    Danny Wilson

     

    The Scars

     

    Associates

     

    Endgames

     

    The Valves

     

    Shamen

     

    John McGeoch ..ok, tenuous link as his only solo work is still unreleased

     

    Rezillos

     

     

    In the worst groups …..if there is anyone worse than Deacon Blue then I haven’t heard them

  3. Good evening fine people of CQN. I don’t post very often but I’d like to proffer my top 10 Scottish acts for yon chart.

     

     

    1. Teenage Fanclub (best band in the world IMHO)

     

    2. Gerry Rafferty- genius

     

    3. Primal Scream

     

    4. Lloyd Cole( I know, he’s English but Rattlesnakes is one of my top 5 albums of all time so I’ll include him) and the commotions

     

    5. Jesus and Mary Chain

     

    6. Travis

     

    7. Belle and Sebastian

     

    8. Del Amitri

     

    9. The Waterboys

     

    10. Mogwai – constantly superb and with song titles like ‘George Square thatcher death party’, what’s not to like? ( apologies Philvis)

     

     

    random topics like thus are why I love this blog!

     

     

    Hail Hail

  4. Ulster-Celt.

     

     

    Damn. It’s a fair cop.

     

     

    No bother about tomorrow. I’ll be at the garage at the bottom of the Springfield Road @ 6.00. It’s at the top of my road.

     

     

    Heading to bed soon, promise.

     

     

    Árd Macha

  5. Italia bhoy

     

     

    Thanks for that vid of Rod. Yeah he is cheesy these days but I was listening to his album Atlantic Crossing last week and I forgot how good it was. Brought back lots of good memories. Gonna put it on my phone now

     

     

    BB

  6. 67Heaven ... I am Neil Lennon..!! Tick Tock !! on

    Jackie mac….great idea….every poster must state his wight tonight, and report weight every fFriday night, with lossor gain from previous week stated also…

     

     

    I’ll start it off

     

     

    28 Oct 2011…..12 stone 10lbs …..0.5 lb loss from last week…

  7. 67Heaven ... I am Neil Lennon..!! Tick Tock !! on

    wight = weight….getting too excited about the dark side developments

  8. "we are all Neil Lennon and love the Celtic, "mouldy67" on

    Estadio

     

    Canny listen to tranny on bike, need to listen for traffic

  9. Enrico Dandolo nicked my Crusade on

    What must be made clear is that the huns are not in a position to negotiate. They come cap in hand.

     

    Put them in Div 3 and let Falkirk (or Celtic resrerves :) ) fill the void.

     

    Whilst progressing their way up through Div3,2 and 1 they fertilise :) the clubs in each division with much needed gate cash and media interest. Meantime grassroots football in Scotland is given a much needed boost and the huns will have performed a great service, thus redeeming themselves along the way.

     

     

    Now that’s a plan!

     

     

    Rico

  10. Seriously impressed by the musical appreciation on the blog.

     

    It shows we have a great taste in music as well as football.

  11. 67Heaven ... I am Neil Lennon..!! Tick Tock !! on

    Celtic Soul Brother..

     

     

    HELP, a need some money….Beatles……LOL…!!!

     

     

    Half a pound of tuppenny rice, half a pound of treacle, that’s the way the money goes….POP, goes the weasles……(weasles = rankers)

  12. Enrico Dandolo nicked my Crusade on

    Oh aye, and we’d meet them in the Scottish Cup and the Glasgow Cup every year to keep TV happy

     

     

    Rico

  13. My Uncle Jimmy played with Frankie Miller in a band called The Stoics in the 60’s/70’s Glasgow scence, from memory they did 2 albums together..

  14. ItaliaBhoy says:

     

     

    28 October, 2011 at 22:10

     

     

    Hmm, love AC/DC but not sure I’d describe Bon Scott as a singer. Poor man’s Roger Daltrey, who himself couldn’t haud a candle tae Robert Plant

  15. anditsthepoleagain

     

     

    He’s young there, hard to take the eyes off the young wans though :>)

     

    Better no play Bob to loud, the Mrs. might get a wee bit frisky[I wish] those were the days…….

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