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Rangers survival: ‘In broad terms’

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Administrators for Rangers FC PLC (in administration) yesterday released a statement that had emotions swinging.  Subsequent headlines heralded the news:

 

“Administrators assure supporters that club will continue to exist”

“Rangers ‘will continue as a club’”

“Rangers will survive”

 

The administrator from Duff and Phelps actually said, “In broad terms, supporters can be reassured that Rangers will continue as a football club”.

“In broad terms”, Clydebank FC survived as a football club, they are away to East Kilbride Thistle on Saturday.  This is a completely empty statement.  Duff and Phelps have given no assurance that a deal to save the club has been reached or that they can compel such a deal.

Off to the juniors with them.

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  1. lochgoilhead bhoy on

    ernie lynch says:

     

    16 February, 2012 at 10:03

     

     

    “I think……

     

    “I suspect…..

     

    “She probably…..”

     

     

    As usual all guesswork.

     

     

    “Salmond genuinely…..” – more guesswork. You are doing it again, Che. You are guessing and passing it off as knowledge.

  2. DBBIA from end of last thread

     

     

    Can I have you as my Phone a Friend if I’m ever on Millionaire?

  3. lochgoilhead bhoy on

    ernie lynch says:

     

    16 February, 2012 at 10:12

     

     

    What and make them run at a profit? How can that be if most of the tickets have gone as season books? That can only work if season books are cancelled and that hasn’t happened yet. That would only happen after a softening up campaign following this weekend’s fixture.

  4. jock steins celtic on

    are Duff & Phelps under any legal obligation to disclose how much money there is in the kitty ie how much is in Rangers’ bank accounts which Duff & Phelps now control ?

  5. macjay1 for Neil Lennon on

    macjay1 for Neil Lennon says:

     

    16 February, 2012 at 10:12

     

    Meanwhile in the colonies…………..

     

     

    From:

     

    Sydney City Celtic Supporters Club

     

    To:

     

    Sydney City Celtic Supporters Club <sydneycitycsc@hotmail.com

     

    Hail hail SCCSC Members, a quick update on our events/games:

     

    Next Event: Jelly & Ice Cream with Marty Higgins – SATURDAY 18th FEBRUARY – Free event

     

    All the way from Co.Antrim, Marty will be playing a gig dedicated to Celtic fans in Sydney at The Cock n Bull, in Bondi – please note the change of venue. Marty has supported the Wolfe Tones and has recently played in the Mercantile Bar and Durty Nellys. Unfortunately The Shannon Hotel has had to close due to financial difficulties. A bit like Rangers.

     

    The Cock n Bull Hotel

     

    89 Ebley Street

     

    Bondi Junction

     

    Saturday 18 February

     

     

    Seemingly,the word has spread.

     

    In excelsis deo,`n`at.

  6. James Forrest is The Emperor of Ice Cream on

    yorkbhoy:

     

     

    The best post I’ve read here all morning so far mate.

     

     

    THAT is the kind of thing we should be doing, to put these things in perspective. We can talk abstract numbers in millions all day long …. but 2400 nurses is the kind of thing the average working Joe or Jane understands without resorting to abstracts. That is more like it.

     

     

    Keep those stats coming. We’ll need those.

  7. By the way cheers Awe_Naw

     

     

    That make it look like they won’t be getting a license to play in Scotland let alone Europe as they are deficient in so many of those articles I lost count.

  8. Also missing from Duff and Phelps’ vague statement: Rangers will continue as a football club for how long? Till next Saturday? Next month? Next season?

     

     

    They are as good as CW when dishing out the meaningless statements!

  9. BlantyreKev - Parcel=> on

    Emotions running high and big crowd of Rangers supporters does not auger well for Saturday.

  10. Steinreignedsupreme on

    oglach: 16 February, 2012 at 10:10

     

     

    Aye. With skin that thick it’s a wonder Kelly could get into that tiger costume.

  11. Sorry if already been mentioned (not had time to read back through previous article) FF talking about a press conference by the administrators at 3.30 today. Should be interesting.

  12. Paul 67

     

     

    If you are interested i have a Celtic shirt signed by the entire squad from WGS last season. Brand new with tags, received from Celtic FC for spending a ludicrous amount of money using a Celtic CC. Not sure how much it is worth but if you want to auction / use it as a raffle prize to raise funds for the Venessa appeal or indeed any other worthwhile CQN cause please let me know. You’ll have my e mail address so send me a message with a postal address I should send it to and I’ll post ASAP.

  13. Interesting to see if redundancies announced today. Will have major effect on morale going into game this weekend- assuming Strathclydes finest have been paid

  14. St Martin De Porres on

    Collegues of mine are currently working under Administration down in Coryton

     

     

    Have done since mid jan. You all seen it on the news the initial media/politician/union rhetoric in repsonse to the initial shock. We all need to do something

     

     

    These guys are still in administration although you Jo public dont know it because its no longer news. They employ 500 direct and estimate 2000 indirect services across south east. Its expected that they will remain in adminstration for the forseable future

     

     

    Despite being an integral part of fuel supply to Greater london no one is helping them. They are on there own. There is NO government intervention.

     

     

    Its delusion of the grandest order to think there will be any form of government intervention with the huns regardless of party

  15. James Forrest is The Emperor of Ice Cream on

    Here’s something that’s been bothering me.

     

     

    If government DID intervene to save Rangers financially, would they not be violating the law? Isn’t there some legal framework which exists to prevent governments giving financial aid to distressed companies where it would give them a competitive advantage over other companies in the same field?

     

     

    Furthermore, they all have to watch they don’t stray out on a limb too far or FIFA and UEFA will have something to say. If it even LOOKS like they are interfering in the due process of the SPL/SFA, in supporting a NewCo, whatever, that will have profound consequences from the top of the ruling body.

     

     

    yorkbhoy … another excellent example of what we’re talking about.

     

     

    Awe_Naw …. a fantastic post mate. The minefield in front of them stretches out for miles. Celtic HAS to be working behind the scenes on this stuff.

  16. BlantyreKev – Parcel=> says:

     

    16 February, 2012 at 10:19

     

    Emotions running high and big crowd of Rangers supporters does not auger well for Saturday

     

     

    Can you imagine what will happen if one of the screens fails !

  17. St Martin De Porres on

    so point im making is if the Government wish for what ever reason help this particular case of administration what would UNITE union organisation say. Is this consistant across industry?

     

     

    What other similar situations across not just scotland but the UK are local and national government now willing to support?

  18. As the story unfolds, one thought in my head is becoming more and more prominent; having a Newco set up to apply for membership to SPL (or SFL) in time for Season 2012/13 will be very challenging. With all the accusations about substantial non-payment of taxes, missing Ticketus money and general Boardrom shadines (past and present) still to fully come out in the wash, there can be little doubt that investigations and legal wrangling will lead to a lengthy delay in any Newco getting it’s hands on any of Rangers’ assets. And the Newco needs these assets to justify reapplication. I think Newco will be Rangers 2013.

     

     

    If what I just said reads like a load of rubbish, just say so. Happy to hear what you all think.

  19. James Forrest is The Emperor of Ice Cream says:

     

    16 February, 2012 at 10:24

     

     

    The government are trying to keep their hordes calm. A TV broke down in Manchester and it was like Armageddon. What will it be like when their club goes bust?

     

    Limp them to the end of the season and then fold them up.

     

     

    LB

  20. Hi Paul,

     

     

    ”Duff and Phelps have given no assurance that a deal to save the club has been reached or that they can compel such a deal.”

     

     

    Thanks for the clarification – I thought it was an incredulous statement given the fact that they had just sat in the hot seat!

     

     

    Unless they found a huge sum of money in the ‘rainy day savings account’ or found where they buried the hhhhuuuuuggggeeee war-chest how such comments could be expressed baffled me.

     

     

    Maybe you could clarify summit else for me:

     

     

    IF

     

     

    R@ngers FC PLC (in administration) lose the Big Tax Case

     

     

    And IF

     

     

    They can’t pay the cash to oor mhan Hector

     

     

    Do the recipients of SDM’s generosity with the public purse (as oppose to Alex Salmond’s)

     

    become liable for their ill-gotten!

     

     

    14pointsClear&counting

     

     

    Crisis! What Crisis?

  21. James Forrest is The Emperor of Ice Cream on

    Gordon_J:

     

     

    Thank you for that mate. I had a feeling that was the case.

     

     

    I would also presume UEFA would find it a little odd … especially with their emphasis on Financial Fair Play.

  22. hen1rik says:

     

    16 February, 2012 at 10:30

     

    Bhoys sent this email to Shona Robison.

     

     

    Dear Shona,

     

     

    I am shocked by the outcry from MSP’s on the situation at Rangers Football Club.

     

     

    Here is an article below I would love you to comment on because its puzzling me why there isn’t the same outcry from you and other MSP’s on this, it really does puzzle me and the taxpayer.

     

     

    500 jobs going at a major Retailer Peacocks yet Rangers Football Club have 185 employees on their books yet you and other MSP’s are hell bent on looking after 185 employees of Rangers Football Club.

     

     

    This company paid all their taxes yet Rangers Football Club have cheated the tax payer out of millions and they have cheated other teams out of millions by buying players that other teams couldn’t afford.

     

     

    So please Shona can you explain this to me because I’m seriously astounded by the government’s stance on this.

     

     

    We have a club who have deliberately not paid tax, we have a legit company who has played by the rules, how can you try and explain this to an honest taxpayer in this country.

     

     

    From what I’m hearing Mr Salmond has lost a lot of supporters on this matter.

     

     

    What message does this send out to the 500 employees and to other Scottish Businesses and to other Scottish teams in this country.

     

     

    These companies work hard to keep their businesses afloat and pay all their taxes, I’m  sure they wont be happy with this outcry from our MSP’s.

     

     

    What about Dunfermline Football Club who have now lost £80,000 because of Rangers Football Club, or Hearts of Midlothian Football Club or Dundee United Football Club, yet I don’t hear you or any other MSP mention this.

     

     

    Being an honest hard working member of the public would it not be in the interests of MSP’s to try and help both companies but surely a company with 500 employees they have to be more of a priority.

     

     

    The establishment circles the wagons…

     

    Published on Thursday 16th February, 2012.

     

     

    140 years of ‘history and tradition’ or fiscal honesty and sporting integrity – take your pick.

     

    I was sitting having a cup of tea after my dinner this evening, reading my preferred Glasgow evening paper (I think there might only be one!), when I read of a Scottish firm which had recently gone into administration.  The piece was only a small one (two columns on page 7) but it talked about the role of the administrators and it talked about the fear of the workforce and the number of jobs that would be lost.  The jobs numbered 487 and, whatever the reason was for the demise of the firm, you had to feel sorry for every one of those nearly 500 people who, through no fault of their own, are facing the threat of unemployment in this harsh economic climate.  However, in the case of the firm in question, the chain store Peacocks, which has 40 stores across Scotland, there did not seem to be a queue of MSPs waiting to voice their support for the workers and call for all measures to be taken to save the company and secure their jobs.  There was no appearance on television of our First Minister telling the world that Scotland ‘needs’ Peacocks; that the creditors of Peacocks need to come to a sensible solution to keep the firm in business.  No, there was none of that, and yet the job losses involved here are nearly double that of Rangers FC, another large Scottish firm recently forced into administration.  Funny that…

     

     

    Yes, dear reader, it didn’t take long, did it?  Two days into administration and the Establishment in its many guises is getting to work to save Rangers FC.  From our Sports Minister, Shona Robison, to the Deputy First Minister, Nicola Sturgeon (who at least has a constituency interest), to Alex Salmond himself (not to mention Labour’s Patricia Ferguson and Margaret Curran, who want to give themselves a good talking to!), they all waxed lyrical about the importance of this great ‘institution’ to Scottish society; its vital role in Scottish football; its’ 140 year illustrious history and its great ‘culture and traditions’.  I’ve left the best till last and I still can’t believe he actually said this, but our First Minister actually argued for retaining Rangers because of the ‘fun’ they bring to Scottish society.   I’ve just checked all the dictionary definitions of the word ‘fun’ and I’m fairly certain Alex has made a mistake here…

     

     

    For the moment, lets leave aside the specifics of what they mean by the history and traditions of Rangers – no-one spelled it out but could they actually mean their 114 year sectarian signing policy, followed by 22 more years of sectarianism in other forms, flavoured with a healthy dollop of anti-Irish racism to pep it up a bit?  I don’t know but I am much more concerned, as a tax-payer and as a ‘consumer’ of Scottish football about what they didn’t say.

     

     

    There are two fundamental issues here which the press, the television and politicians of all sides are desperately trying to ignore.  The first is that if large firms fail to pay the tax they owe then the public, and the public sector loses out.  So, while as a life-long trades unionist, I would never want to see workers made redundant, I can’t see why a particular group of workers should be given any more protection than those employed by the smaller creditors of Rangers for example.  I also care about those who may lose their jobs in the public sector because of cuts which are made more necessary when firms don’t pay their taxes.  I also care about those who rely on public services and welfare spending, both of which are also being cut as the government tries to cut public sector debt.  Shona Robison doesn’t seem to care about those things – or at least not to the same extent.   Robison’s ‘key concern’, she assured the administrators, is ‘the future of those employed by the club and the potential economic impact of administration’.  I don’t know what lead Peacocks into administration but its owners cannot be more culpable than those at Rangers who are alleged to have withheld tax and VAT that they had collected from employees and customers.  How come their workers don’t merit the same high-profile interventions that those employed by Rangers FC are now getting?

     

     

    The second fundamental issue here is the concept of sporting integrity.  If Rangers is so ‘crucial’ to the game of football in Scotland that they must be allowed to continue to compete at the highest level even after having cheated their way to titles and cup wins by fielding players they had no right to be signing, then there is no sporting integrity in the SPL.  What precisely would I, as a paying customer, be paying to watch?  If the SPL and SFA collude with Whyte or anyone else to ensure that Rangers stays in the SPL no matter what, then what value can possibly be placed on the top-flight game in Scotland?  It would mean precisely nothing.  We might as well all just watch our teams playing exhibition football.  Now I’m no economist….no, wait, I am an economist…..but the regulatory mechanism that allowed banks to be ‘too big to fail’ has been severely criticised by all and sundry and we are all still paying the price for that policy.  Are we now to see the same ‘too big to fail’ logic applied here because, in this case, we would lose all the ‘fun’ that Rangers bring to our lives?

     

     

    Salmond, Robison, Sturgeon and the rest could have supported the view that paying your taxes honestly and letting the public sector create jobs directly and indirectly is what is ‘vital’ to Scotland.  The could have said one word of condemnation of those who dishonestly and deliberately fail to pay what they owe.  Instead they chose to speak out on behalf of a company which has allegedly cheated the taxpayer and the sporting public for years. Maybe we should all visit their surgeries, or write to them, and ask them to justify that choice.

     

     

    Thanks and I look forward to hearing from you and i look forward to listening to the same outcry from MSP’s on this.

     

     

    share

     

     

  23. The only way they will get anyone through the doors of Ibroke on Saturday would be to hols an open viewing!!!

  24. Lennon n Mc....Mjallby on

    Summa of Sammi

     

     

    If your about could you repost the analysis done by the the fan of another spl club which dealt with a league with a weakened Celtic or hun which you posted in the early hours?

     

     

    Thanks.

  25. BlantyreKev - Parcel=> on

    What is State Aid?

     

     

    State Aid refers to the distortion of competition between any organisations involved in economic activity across member states of the European Union.

     

     

    State Aid rules state that no governmental body can give financial or competitive advantage to entities within their member state

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