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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halloween tune!
http://www.myspace.com/video/charlotte/childrens-day-at-the-morgue/3141247
Kevin says:
29 October, 2011 at 03:21
I hope they all enjoy their trips to Annan, Elgin and Stranraer.
‘GG
Glasgow Celtic FC is a sacred club that should be run by people who hold that sacred flame in their hearts! IMO!
Until that situation is arrived at then, i’m afraid that Celtic FC/PLC/Balance-Sheet will continue to languish.! IMO!
That should never be a viable option accepted by Celtic fans! IMO!
David Nail sings God Bless American after the rangers fail to score in the 7th
OOOH that gives me a wee chill. RANGERS FAIL TO SCORE
‘GG
Gavil- am watching wi half closed eyes coz ah don’t want the ranjurs team in blue tae win.
Ma pals think am nuts.
Ah canny help it.
why are the ranjurs players wearing rope around their necks????!!!!
6-2 again the ranjurs. thats got a familiar ring tae it.
JimmyQuinnsBits says:
29 October, 2011 at 03:30
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Sweet Dreams M8!
Hail! Hail!
LB
Never mind the rest. Explain to them Rainjurz equals huns.
I hope you have your snow shovel.
Quick question. Is the Hamilton CSC still running?
‘GG
GG – I bought a snowblower last week. Enough with the shovelling!
Hamilton/Trenton CSC still running but last I checked the website they weren’t showing games this season.
Havent been there in ages since I can watch the games home in ma jammies.
GG, is it nearly 11:00pm where you are?
7 innings over.
Cardinals lead the Rangers 6-2, and no Henrik didn’t score the goal of the decade.
6 outs to go. Fingers crossed
‘GG
Another one for the top twenty
Who’s Sorry Now
LassieBeattie says:
29 October, 2011 at 03:56
GG – I bought a snowblower last week. Enough with the shovelling!
Hamilton/Trenton CSC still running but last I checked the website they weren’t showing games this season.
Havent been there in ages since I can watch the games home in ma jammies.
I have the same problem. Why drive an hour to Kearny when I can connect my laptop to the flat screen and sit on the couch wrapped in my Celtic blanket? Kearny is using Ch67 these days.
I assume your arm healed ok? So you shouldn’t need a noisy blower.
‘GG
‘GG
MayoD who is also Neil Lennon says:
29 October, 2011 at 03:59
Another one for the top twenty
Who’s Sorry Now
——————————————
Connie Francis a New Jersey girl
‘GG useless info specialist
GG
No info is usless, that fact may be needed at a future point.
lifelonglearnigCSC
Gavil – 1st time I went to Kearney, I went to the Scots club instead of the Irish club. Couldn’t understand why half the room were Ranjurs fans. Very wierd.
Half way thru the game I heard about the Irish club so me and ma dad ran down the street at half time so we could watch the 2nd half with only hoops fans.
good times.
And fish and chips after the game. yum
8 Innings over and the Cardinals are three outs away.
Rangers are losing 6-2. Can you hear that often enough?
If Carlsberg really do weekends two Rangers teams will lose within 12 hours of each other.
Then Celtic will hammer the Hibs.
The snow couldn’t spoil that treble.
‘GG
here we go – last inning.
cammmmon
one out
LassieBeattie says:
29 October, 2011 at 04:14
Had to go there myself a few times when he club was having projector issues.
I was never comfortable even though many members of the CSC were Scots Club members as well.
ONE down 2 to go.
‘GG
2 out
‘GG
Oh the CARDINALS are Champions
and
game over
BYE BYE RANGERS !!
THE RANGERS ARE BEAT
6-2
‘GG
Rangers No More!
I hope come 2PM tomorrow Celtic Park time someone can copy and paste:
THE RANGERS ARE BEAT
‘GG
Oh, how this blog is slowly but surely turning into a sort of…Celtic View type of ‘wee gang-hut’ with people patting each other on the back while Rome burns!
Not The View Celtic Fanzine saved my sanity during the 90’s!
Now where to turn……?
That’s it from Baseball Quick News for another season.
I started off supporting the Phillies for this series, but anyone anyone beating Rangers is good enough for me.
‘GG looking forward to tomorrow and a rocking, thunderous Celtic Park.
Good night and God Bless.
LB away to bed with a wee spring in her step :-)
Imatim and so is Neil Lennon says:
29 October, 2011 at 04:21
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What i’m saying is…..
Why do we have to put up with seeing our manager trying to operate in the transfer market with his hands behind his back when, PL(assissted by John Park) will opt to bring in 2nd or, 3rd choice transfer targets and, at the same time more or less attempt to run a club within a club! IMO!
Why was Neil Lennon thrust into the managers job and, why did a collection of prospective managers like, Coyle, Lambert and the over-looked McGhee smell a rat, so to speak ?
gonny somebody eject this walloper……..
Kevin says:
29 October, 2011 at 03:33
Kevin says:
29 October, 2011 at 04:35
how much ye gettin paid ?
Mountain_Bhoy is Neil Lennon says:
29 October, 2011 at 04:57
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By whom ?
seen this response to the Forsyth Telegraph article, I doubt it will bee seen in the morning.
Good to see the heads still buried in the sand, so nothing happened today, that must be a relief.
That mad cap Irish journalist ? would that be the one who broke or investigated howmany is it now ??
Rangers tax evasion practices ?
Sheriffs officers serving the writ at ibrox ?
Howmany ringfenced financial cases is it ?
SFA’s sectarian practices ?
SFA’s referee’s cheating and lying ?
Whats the problem with investigative journalism ?
I would have thought the Rangers support would have been thankful for the informaion about the financial issues at Ibrox, had they responded the same way the Celtic support responded in 1994 they could have ensured they did not have to live with the present uncertainty. But thats not how they operate is it. They demand dissention be silenced, even if the info is relevant to their future. Even now with the present self-inflicted issues surrounding them, they are lambasting journalists doing what journalists (outside scotland) do, investigate storys.
The EBT scandal has been in the pipeline for the last 4/5 years, I know people have been discussing it for that long, as it was brought to my attention then.
But in Scotland its a hear no evil see no evil society, especially when the second biggest institution in the country is the subject.
Right now their board are planning to find a way out of this present problem, without paying the HMRC single penny.
Thats the same club who are inviting 300 ex-servicemen for a charity event at Ibrox, I expect they could have better helped the ex-servicemen by paying their taxes on time and making sure those soldiers were properly equiped when they were in service, I mean is it any wonder ex-servicemen rely on charity when tax evasion is so rife in this country ?
Hypocrites and liars will always find a way to justify their misdeeds, the problem today is they no longer have editorial power.
Long live the free press.
Morning bhoys from a sunny hungover Dubai.
1994!
This is why I have no pity for the cheating RFC scum, Scottish media, David Murray, et al would have let us go down the pan and merrily danced on the grave of Glasgow Celtic….now pretty obvious the media have already started positioning a new company to take up the place of the old RFC in the SPL, it is unjust and immoral, it can not happen for the good of what we have left in Scottish Football. If this happens the game is a bogey….rot in hell I say and I will have a merry jig when the day comes!!
Hail Hail
No mention of Edwyn Collins ?
Dance hall in bathgate was called queens. How can a Tim forget that name?
HH
Awe_Naw…,
tell me that wee VAT story again :oD