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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They did away with the reserve league becasue ‘one’ team could no longer afford to run a reserve team. Scotland suffered because of the SFA and their perpetual affection for bears.
Kit -that’s probably right, as the other clubs in the top20 will generate far more from TV and merchandising.
From RTC:
“RayCharles says:
12/06/2012 at 1:22 am
Given Brian Kennedy’s company Weatherseal is now the SPL’s new sponsor, I imagined a multitude of posts would have been forthcoming on this subject.
Neil Doncaster and the SPL are now financially inwoven with a company owned by a Blue Knight who is desperate to keep RFC in the top flight.
I would have thought this was worthy of a “Wow, just Wow” episode but, as I said, maybe I have missed it or others don’t deem it important.”
ziggydoc1 – Was it not reported that HMRC had mobilised BDO to act act as liquidators in the event of the CVA not being approved? I have a feeling they would not have gone to the effort of this step, if they did not think it was a likely scenario. This would leave D&P and Green to spend the next few years in court arguing about whether the deal to sell off of assets for a knockdown price to Green was binding, by which time they would have all gone. Pity…
Did Engurland beat France yesterday? I thought it was a boring draw.
Just listening to the media reaction and all seem very upbeat and positive. Almost seems like an orchestrated reaction ( surely not:) )
Hail! Hail!
Monaghan1900 on 12 June, 2012 at 09:26 said:
Whit? I had completely missed that. Do you think there might be a wee conflict of interest?
Oh, the joys of living in the best corrupt wee country in the world.
estorilbhoy on 12 June, 2012 at 09:30 said:
I heard that it was a glorious 1-1 victory.
I wish I’d never tried this, last time to get it right.
Top 20 Matchday Revenue Clubs (2011)
(M.L.R. Money League Ranking)
Rank Club Revenue M.L.R. % of Total Income
1 -Real Madrid…………………….. 129.1…….1……….30%
2 – Manchester United…………..122.4…….3……….35%
3-Arsenal …………………………… 114.7…….5………. 42%
4- F.C. Barcelona…………………. 97.8 ………2……….25%
5-Chelsea……………………………. 82.1………6………..32%
6-Bayern Munich………………….66.7……… 4………..21%
7- Liverpool…………………………. 52.4……..8………..23%
8-Hamburger SV…………………… 49.3……..13………34%
9-Spurs ………………………………. 44.9………12………31%
10-Celtic……………………………… 43.4………n/a…….(circa 52ish)
11-Benfica…………………………… 40.2………n/a
12-Inter Milan…………………….. 38.6……….9……….17%
14-Rangers………………………….. 31.5……….n/a
15-AC Milan………………………….31.3………..7……….13%
‘You don’t need a Weatherseal to see which way the wind blows’
as ole Subterranean might say.
Ole Mikael Lustig took a bit of a doggin’ on 5Live this morning. Singled out by Jan Molby as “a very bad footballer” who is unlikely to see much more action at the Euros. Discussion continued with Nicky Campbell asking “does anyone know which club this Lustig guy actually plays for?”
Once they established that it was Sellick it was then pointed out that there were only 2 SPL players at the Euros. I don’t know if this is accurate, but if there are only 2 out of a total of 368(?) players playing in Scotland it must surely be an all time low, and a sad reflection of the current status of the Scottish game.
Dontbrattbakkinanger:
I hope it is right, it came from Deloitte. Please excuse my earlier screw up with Bayern Munich.
Ciao tutti ——
Another run of the mill, low 90s day -way down south .
Last night —-
England France –
” This is dreadful but there is only 28 minutes left now ”
Italian TV commentator.
Sweden Ukraine-
” Sweden used to be reasonably good but now they could be Ireland . Imagine watching Ireland Sweden -they would need an egg shaped ball ”
” Poor Ibra —–how he must wish his parents had migrated to a footballing country”
Italian Tv commentator.
Speaking for myself —– Lustig doesn’t float my boat.
Thursday’s CVA stuff ——— can’t see ” family club ” Palermo FC accepting a Pennies in the Pound deal. Doing so would be an affront to their sense of honour..
Much work to do —– it has to be done by 12 these days —– I like heat but refuse to get scorched !
The Pantaloon Duck on 12 June, 2012 at 09:30 said:
Can this get any sleazier?
Kitalba at 9:05…..
I agree diluting our ST income would certainly weaken Celts as a European team, that wouldn’t encourage me to renew next time around.
Hx2
From Deloitte Football Money League
Most strikingly, only three clubs from outside Europe’s ‘big five’ leagues feature in any of our rankings. The Glasgow giants, Celtic and Rangers have not appeared in the Money League since 2006/07 and 2005/06 respectively but they still generated the 10th and 14th highest matchday revenues owing to their phenomenal support. Each club has average league attendances in excess of 45,000. However, the limited size of their domestic broadcast market means that, barring UEFA Champions League success, neither club is likely to reappear in the Money League top 20 in the foreseeable future.
The only othe club to feature is Benfica.
The Weatherseal deal shows Dungcaster up for exactly what he is a money grabbing, gravy train licking wee tramp.
Is there any integrity left in ther SPL/SFA cabal, not that I can see.
A huge derailment soon would be the best answer..
Sleazebags the lotta of them..
JohnnyClash on 12 June, 2012 at 09:33 said:
Ole Mikael Lustig took a bit of a doggin’ on 5Live this morning. Singled out by Jan Molby as “a very bad footballer” who is unlikely to see much more action at the Euros. Discussion continued with Nicky Campbell asking “does anyone know which club this Lustig guy actually plays for?”
Once they established that it was Sellick it was then pointed out that there were only 2 SPL players at the Euros. I don’t know if this is accurate, but if there are only 2 out of a total of 368(?) players playing in Scotland it must surely be an all time low, and a sad reflection of the current status of the Scottish game.
………….
There are 3, Lustig, Sammi & Darren!
Good morning all!
I spoke to a long time friend and Celtic supporter yesterday, who posts only occassionally.
I have not spoken to her for a while, however she tells me she is having a tough time with her health and at work.
No names, no pack drill, but I’m sure the good Lord will know who you mean if you say a wee prayer for her.
Thanks!
Vmhan
There is no way I am going to pay to subside Falkirk, Hearts, Motherwell, Kilmarnock or any other team other than Celtic.
Lighting a candle for Philbhoy’s mucker; may she soon be restored to full health
greenjedi on 12 June, 2012 at 09:46 said:
If by Darren you mean o’dea, he’s left Celtic now fella.
kitalba on 12 June, 2012 at 09:15 said:
They did away with the reserve league becasue ‘one’ team could no longer afford to run a reserve team.
– > I have often thought that the SPL Reserve League should be run on a voluntary participation basis. Given the fact that the SFL can run a Reserve Championship (with about 14 participating teams) and sports such as Rugby League run one (again with some teams electing to participate) and also given the number of informal ‘bounce’ games teams play already among themselves. Why not open trhe Reserve league up to whoever wants to participate. if we only had 6 or 7 teams, that would mean 10 or 12 matches (or 15 or 18 should they decisde to play 3 times…. like the very old ‘Premier Reserve League’ of the 90s) Either way, clubsd would be free to continue to play additional bounce games if they so wish. Celtic could play a league of around 12 or 14 games within Scotland and then continue playing english opposition etc on free weeks. The fact that the huns can’t participate (for whatever reason) should have no bearing at all on whether other clubs run a Reserve team or not. The clubs are businesses and select their own business model. if they feel they want/need a reserve league, then they should simply organise one.
Monaghan1900 on 12 June, 2012 at 09:40 said:
We shall find out over the next few weeks. I fully expect that the answer will be “yes” :-(
There may only be 2 SPL players in the Euros, but at least they both have lovely hair.
Best supported clubs in Europe (2012)
1.- Borussia Dortmund- 80.522
2.- FC Barcelona -78.340
3.- Manchester United FC- 75.387
4. -Real Madrid CF 72.855
5. -FC Bayern München 69.000
6. -FC Schalke 04 61.218
7. -Arsenal FC 60.000
8. -VfB Stuttgart 55.090
9. -Hertha BSC 53.449
10.- Hamburger SV 53.420
11. -Borussia Mönchengladbach 51.847
12. -Celtic FC 50.904
13. -AFC Ajax 50.147
14.- Newcastle United FC
15. -1. FC Köln 47.482
16.- Manchester City FC 47.045
17. -AC Milan 46.980
18. -Rangers FC 46.324
19. -FC Internazionale Milano 45.664
20.- Hannover 96 44.826
21.-Feyenoord Rotterdam 44.781
22. -Liverpool FC 44.253
23. -SL Benfica 42.664
24. -1. FC Kaiserslautern 42.434
25. -1. FC Nürnberg 41.968
26.- Chelsea FC 41.478
27. -SV Werder Bremen 40.808
28.- Club Atlético de Madrid 40.526
29. -FC Paris St. Germain 40.494
30.- Sunderland AFC 39.095
bazzabhoy on 12 June, 2012 at 09:53 said:
greenjedi on 12 June, 2012 at 09:46 said:
If by Darren you mean o’dea, he’s left Celtic now fella.
…………….
He’s still a registered Celtic player until the end of June
Philbhoy will do!
Re SPL players at the Euros:
Brozek was an SPL player during the season, so should probably count. Majsotorovic would obviously have gone, barring injury.
Otherwise – yes – an incredibly bad reflection on where scottish football is these days.
Nicky Campbell is a despicable character.
I was reading the report in the herald link at the top of the page, speculation about the steps after the CVA fails. Probably like most folk, I just don’t understand how Green can supposedly be allowed to purchase:
Ibrox Park
Murray Park
Albion Car Park
All for the grand total of 5.5 million quid.
(Ah mean to say -You have got to imagine that the scrap value alone from Ibrox would be worth that, especially with that yon big super beam that they have supporting the club deck :-0)
You know when you think of all this current carryon at the bigot dome, its just as well that they didn’t start building that super stadium, casino, hotel, thingy with a rollaway pitch, movable roof, rock concerts, an underground car park and somewhere to land the private jets. It’s hard to imagine how they could have paid for that.. eh oh wait a minute, it seems that they haven’t paid for a lot of things that they got…
Seriously though, the combined value of these three assets must be more than 5.5 million quid?
Is the administrator really allowed to sell the assets at so much below under market value, to keep them out of the creditors pot? Is this still ill informed speculation and spin from the MSM or is it true?
Im also intrigued by the claim that ticketus are happy to vote for CVA so that they can get back 250 grand out of the 25 million that they handed over. I don’t yet understand what ticketus are doing in this situation and still refuse to believe that ticketus handed over the cash without security in place.
I wonder when we will get to the bottom of ticketus role in this fiasco
LuxCelt
Brozek is still Celtic player. Celtic will get from UEFA 8 000 euros for each day Brozek spends in the team. That will give circa 240 000 euros to Celtic.
Parkheadcumsalford@08:48
It is not true that Green will be able to buy the assets for £5.5m if the Proposal fails in 2 days
In one of the many clauses that HMRC insisted on entering into the Proposal, 17.1.8 is the most pertinent regards this asset sale.
“17.1.8 That the Joint Administrators are authorised, subject to implementation of a CVA, to conclude a sale of the whole, or part of the business, property and assets of the Company, without having to obtain the sanction of the Company‟s creditors at further creditors‟ meetings, upon such terms as the Joint Administrators deem fit and they be authorised to liaise with all relevant parties, bodies or organisations which they deem relevant for achieving that purpose.”
Note the “subject to implementation of a CVA” part. So if the CVA fails, then so does Greens ‘right’ to buy the assets for £5.5m
D+P may try to go ahead with a quick ‘sale’ to Green, but that will almost certainly be thrown out of court by a court action from BDO when they are appointed liquidators
Thursday draws closer and I have a little nagging doubt.
I represent HMRC and I see my role being to maximise income for the benefit of the Public Purse. I know what I can get from the CVA proposal and I can guesstimate what I might get from Liquidation. I reckon Liquidation is the better bet to maximise income now.
I do wonder though whether I should take into account the prospect of future revenues the amount of which may vary depending on my decision on the CVA.
I am asking myself what future income will I get from
a rejuvenated Rangers debt free added to my regular known income from the SPL
a new entity playing at the old Ibrox Park and still in the SPL added to my regular known income from the SPL
a new entity playing in SFL 3 initially added to a possible reduced income from the SPL Clubs
Do I have any interest or responsibility for the future?
Do I need to ask the question and if I do what is the answer?
Farewell to civilisation as I disappear with 30 weans until Friday down to sunny Dunoon (well close by).
Who knows, maybe by the time of my return they will finally have received the fatal blow. Oh and Delia may have cooked up a smile or two :-)
Zbyszek
I don’t think the compo money goes to a team with the player on loan, it instead goes to the registered club of the player
derbyshirebhoy on 12 June, 2012 at 10:09 said:
what you need to do is set a precedent to show all and sundry that you mean business.
the alternative is every club or business paying whatever tax they want – to an even greater extent than is already happening
HAMILTON TIM
DUNOON?
Any of yer charges go by the name of Struth?
Greenjedi
Almost hundred percent sure, money goes to Celtic.
hamiltontim on 12 June, 2012 at 10:11 said:
teach the weans the famous sinatra song – ‘Fly Me To Dunoon’