30% interest! Nice one, Newco Rangers, you’ve got yourself a deal there. Suggestions that your business plan has been, and remains, unsustainable and extravagant are patently absurd when you can borrow at the kind of rates a Zimbabwean pimp would get at the height of the ZWD’s recent hyper-inflation episode, although it’s probably worth noting that Zimbabwean businesses are currently borrowing at slightly less than half of what Laxey are charging Newco, solvent ones, anyway.
An administration would be a severe embarrassment to the Newco, less than two years after its incorporation, but in many ways it would be a boon, allowing the club to offload all the high earners and establish a breakeven trading platform.
It is utterly incomprehensible why they have not called in the admins, which itself shines a light on management processes inside the club. No one seems to be asking, “What next?” Getting deeper into hock with a hedge fund is ruinous. Notions that if the loan is turned into shares would be a soft landing for the club are absurd. This is a hedge fund. A HEDGE FUND!! The more shares they have, the more exposure they have, the higher return they will demand.
Need some new players, tough, pay my money. Ticket sales down, that’s disappointing, cut back and pay my money. Got some maintenance work to do, I don’t care, pay my money then see what’s left.
Keep your eye on the sale and leaseback plan, although not until September. They should commission a brass statue of a Newco season ticket holder, touching his toes, with the motto ‘Brace yourself’ below.
The only question left is who will be the complicit front man for season ticket sales this year?
Most people are only beginning to realise the consequences of the events of 2012, or what it means to be a zombie club, walking around, not quite the same as before, with various groups randomly gorging on you. Nothing will ever be as it was. Ever. They should’ve listened, before high-fiving Sir David Murray, then Craig Whyte, then Charles Green. It’s not like we didn’t tell them.
If you’re in the football business, rule number 1 is: Pay your bills. Every other rule, value and aspiration cannot be met without this rule.
Many thanks to everyone who submitted questions for last week’s Celtic Forum. The minutes have been published, and are available here.
If you would like to read the new CQN Magazine, GO HERE to read properly, and for FREE, the graphic below is just a taster.
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DeniaBhoy
Not an expert by any means – so this is only my interpretation going by the late Paul McC’s thoughts on his blog.
HMRC have made it known that they intend to appeal all the way to the Supreme Court (if necessary) and as such this is little more than an intermediate diet. Why waste time (unless Minty wants to settle the bill – ha! feckin’ ha!) – so let’s cut to the High Court.
No point appointing a Tax Specialist Judge when the local guy can rubber-stamp proceedings. If I read it correctly – HMRC did similar with Aberdeen Asset (Sept 2013) with a view to taking them all the way.
Only difference – AA settled a £36M outstanding bill.
I knew Raymie Doherty (Lord) when he was a Bowery Boy in Barrhead.
Well actually it was the YYB (young, young, bowery).
He spent many a Friday night as a 14 year old necking Woodpecker.
I believe he is an honory member of the green brigade (legal wing).
ryecatcher
23:32 on 24 February, 2014
Anyway enough of this disrespectful stuff about the parents of one of my heroes, Mr. Weller.
————–
Yes I too have a healthy regard for Mr Wellers music.Even more so as he has a healthy disregard for Stings.Ditto.
BBC Al Lamont
Lawyers for Rangers’ former commercial director Imran Ahmad will on Tuesday ask a judge to arrest funds of £750,000.
ryecatcher
23:44 on
24 February, 2014
Nat know……
There is a bit of Small Faces in there but far more prolific songwriter than old Stevie Boy ever was.
—————————————–
Joking mate – PW is a great artist. All new ideas are built on existing ideas. PW took it a few steps further.
BBC Al Lamont
Ahmad’s lawyers will argue the Rangers Football Club Ltd is trading insolvently and would be unable to pay if he won his claim against them.
Alasdair Lamont @BBCAlLamont 3m
Lawyers for Rangers’ former commercial director Imran Ahmad will on Tuesday ask a judge to arrest funds of £750,000.
Thindimebhoy…
Might be wrong here but I was under the impression that no new evidence was being submitted to the Appeal?
The main thrust of the UTT is that the law was not applied correctly at FTT?
Good night lads enjoyed the banter.See ya the morrow.
Hail Hail
jude2005 is Neil Lennon \o/
Cosgrove used to refer to us as bead counters till I wrote to his boss.
This is true
cosgrove and cowan used the phrase on many occasion
now cosgrove is a born again Scottish visionary we should be grateful at least one worm has turned
NatKnow
Joe Mc Doakes behind the 8 ball?
https://www.google.co.uk/search?q=joe+mcdoakes&rlz=1C1KMZB_enGB566GB566&espv=210&es_sm=93&tbm=isch&imgil=-AXzzZnTbaD-uM%253A%253Bhttps%253A%252F%252Fencrypted-tbn3.gstatic.com%252Fimages%253Fq%253Dtbn%253AANd9GcS4mtitTUm9DVxVqglBpQuBaf2e0udkIRekJwCIYqiIgUH1VRoI5w%253B470%253B365%253Bo41sbRyhP5rt2M%253Bhttp%25253A%25252F%25252Farthousecowboy.com%25252Fjournal%25253Ftag%2525253DGeorge%2525252BO%27Hanlon&source=iu&usg=__3TrDM3Cov6KoxnVYfjoTTMSSADA%3D&sa=X&ei=6doLU-GDGZLo7AatooCoAQ&ved=0CEgQ9QEwBQ&biw=1280&bih=709#facrc=_&imgdii=_&imgrc=-AXzzZnTbaD-uM%253A%3Bo41sbRyhP5rt2M%3Bhttps%253A%252F%252Fstatic.squarespace.com%252Fstatic%252F51aef9f1e4b0df23589b86cb%252F51aefa64e4b005e6b6548c9c%252F51aefa68e4b005e6b65495b2%252F1361251160423%252F1000w%252Fmcdoakes.jpg%3Bhttp%253A%252F%252Farthousecowboy.com%252Fjournal%253Ftag%253DGeorge%252BO'Hanlon%3B470%3B365
Imran ring fences 750k tomorrow,Salaries of 750k on Thursday 27th.
Everything gone……..deid!!
auldheid
23:01 on 24 February, 2014
The collision truly is incredible…..it is also incredible that they thought they would get away with it all…
Looks like a double ended sword indeed.
Tdb
The power of prayer?? Nah forget that!!
67Heaven … I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors
23:54 on
What makes you think they haven’t?
Syd Negakev
23:55 on
24 February, 2014
Looks like a double ended sword indeed.
———————————————————
Double-ended sword sounds like the horns of a dilemma. I.e. Painful. Ouch!
Thindimebhoy
I think Cowans wean might be going to wan of them I blame the school schools.
ryecatcher
My interpretation was HMRC are saying some evidence was “written off” that they believe is relevant
Thindimebhoy
23:52 on
24 February, 2014
jude2005 is Neil Lennon \o/
Cosgrove used to refer to us as bead counters till I wrote to his boss.
This is true
cosgrove and cowan used the phrase on many occasion
now cosgrove is a born again Scottish visionary we should be grateful at least one worm has turned
———————————————
Wasn’t “tattie munchers” another of his/Tam Cowan’s phrases? Was quite surprised given that he’s a well-educated guy. But then I guess Donald Finlay is well-educated, proving that education doesn’t mitigate bigotry.
Written off?? Mmmmmm
Tattie munchers?? Thats Cosgroves famely??
£750000 frozen. Well thats half windfall tanked!!! On ye go Imar son!!
big packy
23:02 on 24 February, 2014
I promise that, if he does, I’ll turn round and kiss you…….hahahahahahaha
thindimebhoy
23:52 on 24 February, 2014
jude2005 is Neil Lennon \o/
Cosgrove used to refer to us as bead counters till I wrote to his boss.
This is true
cosgrove and cowan used the phrase on many occasion
now cosgrove is a born again Scottish visionary we should be grateful at least one worm has turned
……………………………….
Cosgrove is a Catholic.
jude2005 is Neil Lennon \o/
00:04 on
25 February, 2014
Tattie munchers?? Thats Cosgroves famely??
—————————————————————–
Yeah – he makes a point of mentioning that he has Irish blood in his family but that that doesn’t make him Irish. Which is fair enough – but he’s not having a go at his own family. He’s having a go at other people – whose identity he seems to want to mock. When Scotland has such an issue with bigotry, it always surprises me that people like him look to have a go at minorities.
Wee hat trick yee ha!!
Night Bhoys Night wee Oscar My hero!! God bless X
Oops wee drap Drambuie left.
tom molach
23:02 on 24 February, 2014
Hahahahahahaha…..sevco will be deed by then, and we can all start with a clean sheet…!!!!
jude2005 is Neil Lennon \o/ 23:55 on
I’m not a great prayer man myself bar those for my dear departed
One thing I will say though divine intervention comes in different forms
Wining the lottery may even be one of them if its Gods will
HH
Just told the grankids Sevco are fecked again.
http://www.funtoosh.com/mclips/funnyvideo/u_need_laugh
NatKnow – Supporting Wee Oscar
Nay Golden Fleece at the end of the Rainbow said a hun
Aye and nay pot of gold either said the leprechaun
HH
I can’t stand HMRC,as the bassas messed up my tax code and after self assessment have granted me 3 months to pay for their feck up or they pass it on to a debt recovery agency.
They really are morons of the highest order.Guess I will have to cough up unlike some dead bassas from Govan.Can I go into administration and appoint someone like say Mrs. Rye as the administrator?
Despite my contempt for HMRC….I hope they stick it to the Deadclub at UTT.
Both a shower of bastards though!!
‘
Cosgrove was an ALTAR BOY.
Don’t Understaun British Tax Law..
In the U.S.
If..Ye fail tae Pey yer Taxes..
The I.R.S.
Seizes yer Assets..
N…Sells them. Fae under ye..
Ye canny Seek Refuge in Bankruptcy… well Ye kin.. But the I.R.S. wull pey nae Attenshun.
How the Auld Sevco managed tae Fail tae Pey..
The Due Taxes that they owed..n Get away wi’ that Debt… Scot Free..
with Nae Fuss.. Nae Jail Sentences..nae Residual Punishment..
Is maist Confounding tae Me.
The Yanks widda…
Seized.. Ibrox..Seize. The Albion.. n Thur Youth Complex.. N the Hoose Thingy… n Awe the Players..
n sold the Loat…fur whitever they could Get..
N.. There wid be..Jail Sentences Passed oan.. Those Responsible fur Failure tae Pay
their Legal Taxmonies..
Ma auld Pal.. Redd Foxx..
owed the I.R.S… Three n A Haulf… Million Dollahs..
The Tax Folk.. Seized..his Bank Account.. His Hoose… His Businesses…He hid a good goin’.. Hair Dressing Supply Co. in Los Angeles..
n..
N this Is a Trew Story,Folks..
the Tax Guys Raided his Hoose.. took Away Awe his Paintings.. searched His Hoose fur.. any Hidden Money.. Looked fur any Valuable Contents he may Hiv Hd.. Lying aboot..
and..
Finally..N. this is a Trew story Folk.
Physically, Searched Redd’s Person..
Emptied his Wallet of his Money.. Took His Wrist Watch.. Took the Gold Rings aff
his fingers…Seached his Pockets..Even took His Parker Gold Pen..
An as they left him… They told Him he had Twenty Four Hoors tae Vacate his Property..as
it noo had bin Officially Seized by the I.R.S.
When Redd wiz tellin me this.. He wiz Cryin’… He wiz Plum Shattered..n so wiz Ah
N Redd fur the rest of His Life, wiz still Hounded be the I.R.S. fur Money that wiz still Due..
Fur.. Ah shuddered tae think that this Could Happen tae Me..
If Ah Owed the Taxman..
Yep..
The British Tax System is Very Lenient…
You Should be Grateful ,fur that..
Ah wonder if Scotland ever becomes Independent.. if
Thur Tax Authorities wid Be so easy oasy..
Man..
It is A wonder tae Me..
That the Folk in England,jist Noo.. Pay any Taxes,at Awe..
Why Should they?
Maks Nae sense tae Me.
Kojo
Still,Laughin
TOSB
Totally agree
Nite all.
Kilbowie Kelt will vote YES
00:16 on
25 February, 2014
Cosgrove was an ALTAR BOY.
———————————————
His Wikipedia entry start describing his education from the point of Hull University. It’s almost as if he’s embarrassed by his background.
Nat know…..
If that was the case then I would also keep Hull University hidden too lol
Goatta Go,joe
Canny wait tae See whit Nei’s Team Selection n Team Formation. wull be..
the Morra..
Kojo
Still,Laughin