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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Weatherseal are the SPL’s ‘Home Improvement’ sponsor. They are just one of many companies linked with the SPL. I cannot see how Weatherseal can influence any decision regarding rangers, unless they are giving away a free garage conversion to the Chairmen.
HT
The weans will rip you apart,enjoy.
BMCUW
Struth??
Do you think this is Australia??!!
Charles
I’ll hum it if you sing :-)
Zbyszek
I’m only saying that because when Crapheid got to the WC final it was in the papers that the Bayern got the compo and not us as he wasn’t permamently registered with us.
But I may be wrong :-)
CHARLES KICKHAM
On RTC,I raised the question of Vodafone’s contribution via Corporation Tax for the last financial year.
I asked how much,and got massively voted down-c’est la vie……
The fella who answered my question got a huge thumbs-up from the cliquey barstewards!
And the answer was ZERO,SOD ALL,NADA,ZILCH.
Bloody disgraceful.
You and I paid more tax than Vodafone,beggars belief……………
VP
Left my Agnew’s bag sitting in the kitchen. Gutted!!
HT
Enjoy Camp Runamuck
Nikki Campbell is insufferably smug and priggish.
I’d pay good money to see him abducted by mutant cannibal aliens, wearing Kappa tracksuits and speaking a kind of pan-Glaactic Scouse.
charles kickham on 12 June, 2012 at 10:14 said:
Hopefully so. As I say a nagging doubt.
DBBIA 1022
Betcha it would still cost less than a pint in BB
derbyshirebhoy
The CVA that has been proposed does not state that any of the Creditors are due any future income. The only thing they are entitled to if they accept is a slice of the money that Duff&Duffer are trying to get from Collyer Bristow and that claim will run for years.
Nearly every single administration offers creditors a slice of future income in order to get a CVA passed. Duff&Duffer have chosen not to offer this. They want liquidation.
Greenjedi
Darren O’Dea [pronounced dah-renh-oh-dee] (born 4 February 1987) is an Irish footballer who plays centre back. He is currently a free agent after his contract with Scottish Premier League club Celtic expired.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
Scandalous – I agree but I thought there was now a hardening of attitudes towards tax avoidance within HMRC after the roasting they took on the Vodafone debacle – a willingness by HMRC to be seen to be doing the right thing – time will tell?
Don’t like Nicky Campbell either but I do recall listening to an interview on the old wireless many years ago.
He questioned David Trimble about the possibility of going into government with Irish Republicans and Campbell tore him to shreds. If I’d been so inclined I’d have pitied the poor man.
Greenjedi
Unless the Turks were that smart and put in in the loan contract.
kitalba on 12 June, 2012 at 09:03 said:
I think so, but will have to check, doubting my memory now, I’m not that old, but I remember when the league went to 10 teams financial restructuring was a big part of it. I was only 8 though. The rest of the point stands, if Rangers played by the rules, every other club would not have felt they had to compete with financial cheats.
I’ll check later when I have a bit to time and post what I find.
Soal
No different from ML3 then.
BMCUWP- don’t kno’, them mutant cannibal aliens get the ole CQN clique discount ;/0
DB
Nikki Campbell must ne the smuggest man in the media, totally unlistenable too
desreves a smacking
And to think we are paying for his holiday in the Ukraine
Interesting wee preview of life in Scotland post-Rangers in the coverage of Euro 2012 so far. If our well-paid commentators in print and broadcast media possibly can, they will put the boot into Celtic and into anyone connected to Celtic in any way.
As it’s unlikely in the extreme that we will witness mutant cannibal aliens, wearing Kappa tracksuits and speaking a kind of pan-Glaactic Scouse kidnapping all of them, I say it’s best to ignore the lot of them.
Only 48 hours until all hell breaks loose, with CVA rejection.
Heh heh. The man from HMRC – he say no.
Wee bit overcast in the Chilterns in more ways than one…
Still hopefully brightens up for a late luncheon to celebrate my big sis’ birthday.
Incredulously enuff with all the indepth analysis of the Euros, haven’t heard anyone pointing out which was the dullest lowest attended game in the competition.
Gary was getting a wee big excited at halftime as the Ukraine/Sweden match threatened to out dull the Angles, however a stonking secod half put paid to that.
As a Celt obviously have a soft spot for the Swedes but was really pleased for my Canadian/Ukrainian buddy who made the trip, no texts since the Shev scored suggests he may have enjoyed it.
Come in Mr Green your time is up…
Other domestic leagues under-represented – and presumably therefore under-performing – at the Euros include the Belgian and Swedish leagues with only 3 representatives each. Unsurprisingly the EPL is way out in front with 77 players at the tournament.
The French league is probably punching above it’s financial weight with 25 players at the Euros, considering most of the French National team’s top players play outwith France.
Bayern Munich have 12 players at the Euros. RFC(IA) have none.
Doc is Neil Lennon:
I agree with the rest of your post but as far as Celtic sharing their gate money with other teams… I don’t think so.
If someone writes a book about optimism, I’m sure it’ll be superb.
Hector CSC
HMRC to reject Rangers CVA proposal at creditors meeting http://www.bbc.co.uk/sport/0/football/18407309
Hoops – someone has phoned Duff and Phelps.
The Django Django album is superb.
That is all.
betabandinfluencelivesonCSC
Was talking to on old pal last night who has his own accountany firm and is a bona fide Motherwell fan. I hadnt spoken to him for ages and when the hun story came up he said that he would be astonished if Hec would vote for a CVA. He said that hec would rather make examples of companies who behave like this and wind them up rather than be seen to be outfoxed to discourage others. I still feel they are going to get away with this one way or another.
bazza
thats what I’m saying, his contract doesn’t expire until midnight on the 3oth of June. A player must be registered with a club to play in a international tournament
slap
Oh no – thats a pure shame :-)
From the BBC site
Under the terms of the deal struck by Green’s consortium to buy Rangers, it will now proceed to purchase the business and assets of Rangers for £5.5m.
………………..
In their dreams
Wonder if they are going to announce a Newco and not bother with the meeting on Thursday?
The picture on BBC in regard to HMRC rejecting the CVA. That is the guy who is the only muslim member of the Scotttish Defence League and was done a few months back for sectarian behaviour.
100% True!
Looks like thae face painting lady wont get her 36p now.
Hmmmm Weatherseal….
A company that is known for dangling the prospect of free windows in front of unsuspecting home-owners, only to subject them to a gruelling high-pressure sales pitch once the salesman is allowed in their home. (thumbsup)
archdeaconsbench on 12 June, 2012 at 10:46
Yip Django Django album is v. good. Caught them live last month – also v.good.