We are three days away from Rangers creditors’ vote on the proposed CVA and my best sources remain strongly of the view that HMRC will vote against. As a result, on Thursday, the process to liquidate Rangers will commence and Charles Green’s company, Sevco 5088, will attempt to purchase the assets of the business.
One of the first acts of Sevco 5088 will be to apply for membership to the Scottish Premier League. They will offer the league an opportunity to retain considerable revenue streams which would be lost to the league following the liquidation of the former football club, Rangers.
Attitudes hardened towards a Newco proposition since Mr Green came onto the scene, specifically since Rangers raised an action against the Scottish FA at the Court of Session, but sentiment in football is fickle. We should ignore all public comments on the subject of Newco and concentrate our minds on the SPL vote, which will take place next week.
Two months ago the Gang of 10 clubs thought they were in an ‘Arab Spring’ moment when they met to discuss how they would use Rangers demise as an opportunity to re-engineer the league. Charles Green is aware of their feelings on this matter and is likely to use this knowledge to inform his offer to the league.
Expect Green to offer to support a change in voting rights if the SPL allow Servco a franchise in the SPL. This offer would allow the Gang of 10 to not only retain much of their existing income streams, they would actually be able to bring in additional income. Servco FC would benefit from being the first company to be able to buy a place in the top division of Scottish football. The only loser from this scenario would be Celtic.
The existing voting rights protect Celtic from several hazards. The most important two are the rights of home teams to retain match ticket revenue and a limit to the number of home games shown live on TV for any club.
You will hear lots of comment from the Gang of 10 that they are not interested in splitting home gate money but none of them have agreed to exclude this matter from the change in voting rights. More Celtic home games on TV would be welcomed by armchair fans that live abroad but would see season ticket holders suffer as kick off times are moved to accommodate TV scheduling. Neither of these matters will be addressed at this month’s SPL meeting but, if the voting rights change, you can expect to read about them soon.
If the application from Sevco is rejected, we enter a new world, where SPL voting rights will inevitably change and Scottish clubs will have to learn to cooperate with each other on a constructive basis. As Celtic fans, we will embrace that challenge, but you can be sure that a slice of your season ticket money is being offered right now by people who have nothing whatsoever to do with Celtic.
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Snake Plissken – They also are far from perfect but there are people in 3rd world countries with better life expectancy than Scotland – shameful under the British system.
Interesting point, Snake.
However, what determines life expectancy in Scotland? You seem to be suggesting it’s the fault of the British system.
How about public spending? We have one of the most lavishly funded state-run healthcare systems in the world, employing well over a million people.
Genetics? Maybe.
Lifestyle choices? We might be on to something here….
Where would you rather live – Scotland or Norway?
I’d rather live in Scotland, but that’s because I’m not Norwegian and I disapprove of countries where alcohol is expensive.
However, given the choice, I wouldn’t (and don’t) live in either.
Take this up another time pal.
To be continued…
(thumbsup)
Paul
Do you think think we as a club have more than one plan of action to respond to whatever they decide.
HAIL HAIL
Paul67
I never usually disagree with you, but if the SPL lose rangers the last thing they will want to do is antagonise Celtic. It is becoming clearer by the day that the fans of the other SPL clubs have had a major impact on their chairman’s thinking.
‘Attempt to purchase the assets of the business’
Hector says No with BDO!
Apparently R@ngers are getting set to sign hunners of international class players while we are missing out on target after target and getting set to lose some of our key players. Then a revitalised R@ngers will waltz back into the SPL, take the league title back to it’s rightful home then go on to win the Champions league. Then Hansel and Gretel will discover a gingerbread house in the woods while a wee boy called Jack will grow a giant beanstalk and climb up it to find a giant at the top. Then a girl called Cinderella will lose a glass slipper at a ball but a handsome prince………blah,blah,blah……….
Why bother reading the Scottish rags when I can just go and flick through some of the weans bedtime story books.
Hi ghuys remember with all this talk about season books, the first instalment comes out of your accounts on friday. I believe this is when Celtic’s transfer targets are then welcomed usually after the money is in the bank to pay for the players. Like most people do Celtic buy when they can afford to and keep their accounts manageable. Will it ever catch on I wonder.
I very much doubt after Thursdays vote, Green will have anything to do with Rangers
IMO, if Chequebook Charlie forms a new club it will be accepted into the SPL by the other clubs but they will insist on quite strong sanctions being imposed.
I believe it’s a win win win situation for them because:
They won’t lose any TV money and may in fact gain some.
They will still benefit (financially) from the visit of Rangers fans.
They will have a better chance of winning something or finishing higher in the league as Rangers will be subject to a large points penalty, possibly for 3 seasons.
And, as Paul67 suggests, they may even keep a bigger share of Celtic’s home receipts.
What’s not to like? (for them, that is)
A new club will also make life easier for the SPL/SFA as all the past misdeeds of Rangers can be quietly forgotten.
Apologies if already posted:
‘Charles Green has admitted he plans to spend less than a year at Rangers.
Green is heading a consortium in place to buy the Ibrox club and will find out whether his offer to creditors is sufficient on Thursday.
Rangers director Dave King has accused Green of lacking the funding to take the club forward beyond then and predicted he would not last a season in charge.
Green denied the first accusation but admits he sees turning round Rangers as a relatively short-term task.
The former Sheffield United chief executive told the Daily Record: “Dave King said he didn’t think I’d still be here in a year’s time and do you know what? He’s right.
“It isn’t my intention to be here longer than that.
“If nothing much is added to what I can see on the table at the moment I believe I can get over all the hurdles in a year.
“I’d be very disappointed if I am not out of the club quickly.”
Green revealed the personal benefits he anticipates from turning around the club.
“I’ll be getting £2million in shares, not cash,” he said.
Green’s group have pledged £8.5million for creditors, the vast majority of which is due to be repaid with interest from the club by 2020.
Rangers currently owe Her Majesty’s Revenue and Customs more than £21million and that figure could more than quadruple depending on the outcome of a tax tribunal.
Green has urged fans to exert political pressure to ensure the tax authority accepts the reduced payments on offer.
“Fans should be urging their politicians to apply some pressure so that the CVA is accepted,” he said.
Green also insisted the funding from his investors, only two of whom have been named, was in place and he would not be able to use season-ticket money to fund his deal.
“The first-phase funding, £10million, is all there,” he said.
“Yes, I will raise £20million more and I say that well aware of just how difficult it is to raise money these days.”
Especially liked this bit:
Green has urged fans to exert political pressure to ensure the tax authority accepts the reduced payments on offer.
“Fans should be urging their politicians to apply some pressure so that the CVA is accepted,” he said.
Who does this guy think he is? Is the above a call to arms for the orcs to start a new round of intimidation?
I reckon that Peter Lawell should have a quiet word with the other SPL Chief Execs saying that if they vote Zombie FC into the SPL then don’t bother offering us any tickets for games at your grounds as we won’t take them and we’ll encourage our fans not to buy them but we would encourage our fans to pack the grounds of the teams whose boards voted no to Zombie FC.
Thoughts?
Starryhope
Kayal33 14:00
Brilliant! I would love to see that happen and get it right up the likes of the Killie Chairman.
celtic *o* lennon
As I posted earlier today, Green stated a few weeks back HMRC had told him(unofficially) the CVA was accepted. Now he is asking the bares to put political pressure on HMRC to have the CVA accepted.
He is a total jackanory.
I’d imagine that if the CVa is kicked out and BDO are appointed as liquidators then Green, TBKs and who knows who else will all form their own version of the huns and apply for the SPL spot.
and if that happens, an auction for Ibrox could raise a good bit as their teams would all need somewhere to play and whoever has ipox must surely have the upper hand!
Paul67
The upcoming vote gives Celtic the opportunity to put the game in Scotland on a sustainable basis for the foreeable future.
One of the conditions could be that a change to gate sharing is off limits until such times as all clubs agree to abiding by improved licensing conditions that guarantee that clubs will not spend beyond their means. Once they all have sensible business and footballing policies in place, then and only then can we look at the cooperation that will take the game forward.
Another would be making the SFA accountable to an independent body like a Football Ombudsman who monitor SFA performance and report publically on agreed standards.
Unless such fundamental changes are introduced Celtic would be being asked to take a bigger baling pot to bale out a boat where the leaks have not been fixed.
celtic *o* lennon on 11 June, 2012 at 13:55 said:
No way will I give any of my future season ticket dosh to any other club, no chance!!!
Paul you floated the idea of the membership scheme (tongue in cheek I realise), I support it. £550 to be a Celtic member, £50 for my season ticket!!
The problem with that is historically minimum ticket prices have been set by SFL. If they aren’t currently in place with the SPL, they will very quickly be set up when we try handing over a share of a couple of pounds a game.
Afternoon….
My guess would be, if the voting structure is changed to suit the diddy teams.
My guess would be, they may vote to share home gate money, OUR money.
My guess would be, they would also vote in a minimum ticket price for SPL games.
My guess would be, that that would stop any Supporters deals/packages with a low cost season book thrown in.
Just my guess.
Gincher67 on 11 June, 2012 at 13:53 said:
Quite. Reminding the likes of Jackson and Grieve in the Sun that Croatia is 88% Catholic would give me immense pleasure. Might stop them punching the air in whatever ayrshire/lanarkshire/fife/midlothian hovel they’re watching the games in…
*couple of weeks back I was up in my youngest daughter’s house when her Balkan neighbour popped in. I noticed him conversing with my son-in-law who replied “Scottish”, now he comes over to me and asks me if I’m wankers or Celtic I reply Celtic FFS.
I’m a bit bemused here as my oldest daughter has been married to a lad who has Croatian parents for over 20 years and I know for a fact that nation is well aware of our leanings, plus he knows my grandweans are ben afflecks.
Anyway he tells me that his cousin played for them, my response was “poor show”, “no jelavic”.
His mother and jelavic’s are sisters, he told me that he loved playing in Scotland but had tae move as they have severe finacial problems.
Still an imposter tae me.
Celtic Mac – I agree entirely.
Celtic will lose out financially whether RFC(IA) Newclub get back into the SPL scot free or not. What we can’t afford to lose is sporting integrity – the baw’s on the slates then.
Celtic need to approach the Gang of 10 with an alternative – restructure the league placings money to make it a more equitable split based on league placings and number of points attained as a percentage against the total number of points in the league. (This would also mean clubs fighting for every point at the end of the season regardless of whether their league position was safe or not).
Clubs could then link players bonuses/salaries to their points total.
Scottish Football has been operating at an artificially inflated level for decades due to that mob loading the dice – other clubs without access to the level of funding enjoyed by RFC (IA) due mainly to the various HBoS incarnations – are now paying the price for trying to keep up.
Celtic have to be seen to be operating in the interests of Scottish Football in direct contrast to Dignity FC.
Rant over – it’s getting close to the end game and I just want them gone for good!
Hail Hail
Tombola
Silver City Neil Lennon on 11 June, 2012 at 14:28 said
You beat me to it….good guess ;)
Rangers FC: More endings than the film version of The Lord Of The Rings. (thumbsup)
Ha ha ha ha ,,,it gets better lol!!
Prospective Rangers owner Charles Green has confirmed his consortium is exploring selling the naming rights to Ibrox stadium.
Ahead of the crucial company voluntary arrangement (CVA) vote on Thursday, the man leading the Sevco group confirmed he is looking at selling off the Ibrox name to raise cash for the crisis-hit club.
Mr Green’s group has put forward an £8.5m loan to pay administrators and creditors in the CVA. He has also claimed part of that money is currently in the hands of administrators Duff and Phelps.
In an interview with STV News last week, Mr Green also claimed that the Sevco consortium was working towards raising a total of £30m for Rangers, but he declined to reveal who the financial backers of the group are until after the CVA vote on Thursday.
A spokesman for Mr Green confirmed selling the naming rights to the Govan stadium, which was opened in 1899, was “a possibility being explored”.
The selling of the naming rights to the home of the Glasgow club was previously raised in a PR stunt by an online dating site in March, a month after Rangers were plunged into administration owing £14m in unpaid VAT and PAYE since Craig Whyte’s takeover in May 2011.
Last year Newcastle United owner Mike Ashley renamed St James’ Park the Sports Direct Arena after his company. The move was designed to promote the sponsorship opportunity as the owner felt the traditional name of the ground was not “commercially attractive”.
This was a controversial move among many fans of the Geordie club, while Manchester City currently pays the local council around £2m a year for use and naming rights to their home ground Eastlands, which was built for the 2002 Commonwealth Games and was renamed the Etihad Stadium last year.
Mr Green has described Ibrox as “my church” and said that he is actively looking for more investors in his consortium. He also rejected concerns expressed by Rangers director Dave King that the group is struggling to raise funds for the takeover and may use season ticket money to pay for the takeover of the club.
Former Sheffield United chief executive Mr Green said that the money from season ticket renewals, which were posted out to fans on Friday, would be held in a “secure” banking account and would not be made available until after the club had exited administration. He described Mr King’s claims as “disruptive” to the attempted takeover of the club.
This guy is Walter Mitty :)
Hail hail
There may be ways round it, European Court rights to earn a living type stuff but then we’d be where Rangers are re going outside football for legal rulings. I have no idea if there are any international rules or conventions through FIFA or UEFA that might save us from losing this income.
AULD HEID, CELTIC MAC, TOMBOLA.
IMO,no way.
No negotiations on TV money,gate splits,prize money.
It’s hardball time.
These teams treated us with contempt for decades,because they thought that Rangers were more important.
Eventually,they were proven wrong. They need US.
Concessions,my arsium. They are gone,deal with it.
The CVA is trying to say that a sell off of ALL RFCia assets would not raise more that 8.5 million.
It’s not that an asset sale couldn’t raise that much, simply that RFCia are not willing to pay more than 8.5 million to pay off their full debts.
So there you have it:
SDM didn’t pay tax through use of EBTs.
CW didn’t pay tax simply by outright refusal to hand it over.
And now we get Mr Green trying to avoid paying tax through use of a CVA.
It is ridiculous that all this talk is only about RFCia, EBTs, CVAs etc…
What we should be hearing about is who is facing serious jail time.
Timing, as ever in all of this, becomes crucial.
If the CVA proposal is rejected and BDO is then appointed to liquidate the assets, how long would it take to sell of the ground, etc?
And at what stage, assuming that it buys the assets, could Sevco call itself “the owner and operator of a Club”, which is what it would need to be to hold an SPL share?
Couldn’t we all chip in and buy the naming rights for Ibrox?
I’m sure some of you could come up with just the perfect name :)
•-:¦:-•** -:¦:- sparkleghirl :¦:-.•**• -:¦:-• on 11 June, 2012 at 14:48 said:
Couldn’t we all chip in and buy the naming rights for Ibrox?
I’m sure some of you could come up with just the perfect name :)
Tesco????????
Hail hail
•-:¦:-•** -:¦:- sparkleghirl :¦:-.•**• -:¦:-• on 11 June, 2012 at 14:48 said:
Great idea.
The Celtic Quick News Arena.
If the diddy teams pass a vote to steal half of our season ticket money the only way to keep this to the minimum would be….
Price all our home SPL games to the minimum price, say £18, the cheapest ticket in the SPL.
A season book then costs 18 games at £18….£324.
This gets you a guaranteed seat for every game but not the same seat or your seat you have sat in for years.
If you want to keep your own seat as is for every game, then you pay extra.
Bring in a supporters package/deal that would maintain the cost of the seat you have always paid for.
That way, yes we’re still being shafted but not as much as the diddy teams would have budgetted for.
God I really hate this bigotted country.
I see Ken Dodds is in Glasgow this week. Is there a link??
http://www.youtube.com/watch?v=4a5vaIsaxB8
Bobby Murdoch
When I talk about changes to the present football structure in Scotland, my first premise is that Rangers, in any form, under any guise will not be part of it. Let us make it clear that with the impending demise of what Paul67 referred to as “one of the biggest clubs in the west of Scotland”, we would be prepared to either promote, or support, changes to the SPL or preferably an alternative to it. My own preference is a return to a bigger league, with no Sunday football, no lunchtime kickoffs, no playing the same team four times when a similar club exists at the top of the SFL, and absolutely no Old Firm. That train is gone! See Auld Heid’s submission from a few weeks back to see how a new television construct could raise substantial revenue.
@Paulmcc67: If you hate Cristiano Ronaldo read this! #amazingguy http://t.co/x2Lyecnq
jude2005 is Neil Lennon \o/ on 11 June, 2012 at 14:55 said:
I bet ole Doddy is still playing his set long after Green has left the building.
jude2005 is Neil Lennon \o/ on 11 June, 2012 at 14:55 said:
Ken Dodd’s dad’s dog’s dead! :-(
Starryhope
Why should we ‘like’ Charles Green and hope he sticks around, as has been the sentiment on here, if he is essentially offering a slice of our season ticket money to other clubs in return for a place in the SPL?
When the only losers could be Celtic?
Do we have an exit strategy?
HH
jude2005
I thought Ken Dodd died!
•-:¦:-•** -:¦:- sparkleghirl :¦:-.•**• -:¦:-• on 11 June, 2012 at 14:48 said:
Couldn’t we all chip in and buy the naming rights for Ibrox?
I’m sure some of you could come up with just the perfect name :)
———————————————————————
Im torn between LIDLS GOVAN and ARENA BENEDICTUS..[would save on the temporary altar stuff for the next papal visit..and a handy wee car park too thrown in]
Off topic (any topic as it happens!)
Seriously funny! Not for the over-sensitive.
http://www.amazon.co.uk/product-reviews/B000KKNQBK/ref=cm_cr_pr_top_link_1?ie=UTF8&showViewpoints=0
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 11 June, 2012 at 14:41 said:
You are ignoring the interdependent nature of football as a business but then again the Christians v The Lions was not an interdependent concern.
If however we want a fair competitive league where integrity rules then it has to be fair to all. When you pay to watch Celtic you pay to watch the opposition and whilst that does not necessarily mean they get a greater share of the gate money it does mean they have as much right to seek an equitable share of football income as Celtic do.
My point is that until they get their act together they should not expect Celtic to bale them out, but if they do get their act together then some formula that recognises what they bring to our game needs to established.
The best example of unequal sharing ruining our game is the distribution of CL money where winner took all. The pursuit of that money in 2007/08 caused Rangers to embark on a course that corrupted the game every bit as much as EBTs (again in pursuit of CL money) started the corruption in 2000.
The emotional argument is understandable, football is an emotional investment, but at the end of the day emotions change with perception and new perceptions will emerge from this crisis in Scottish football.