In October last year, with Rangers riding high in the league and with Craig Whyte enjoying messianic worship at Ibrox, Celtic Quick News published an article with a few predictions:
“In the event of Rangers facing financial Armageddon…. a prepack offer from a new company, for example, Rangers Newco FC Ltd, would offer an administrator a deal for all assets of the club, including stadium and offer to meet outstanding player wages. Deals like this seldom offer unsecured creditors much but even a small percentage might realise more cash than the administrator would gamble on raising in an unstructured sale.
“In such circumstances, the administrator could accept as little as £4m for the unsecured creditors.
“In normal business Rangers Newco FC Ltd would begin trading and this would be the end of the story but football is not normal business. Rangers Newco FC would own a stadium and would employ some footballers but they would not be part of any league structure. They would need to apply for membership to the Scottish Football League or Scottish Premier League.
“In this scenario, the death of Rangers Football Club would leave a vacancy in the SPL, presenting several financial, logistical and sporting challenges…. current TV contracts and sponsorship deals could be jeopardised, while future contracts would be worth a fraction of their current values.
“There is, of course, a resolution to this problem.
“Rangers Newco FC Ltd could present an offer to the SPL. The new company, with its stadium and thousands of potential supporters, could. … adopt the place of Rangers FC, complete their fixtures and allow every other team in the league to fulfil commercial obligations.
“ If [enough]clubs stand against them, they would have to apply for membership of the Scottish Football League, but, having researched this story for several days, I expect Rangers Newco FC Ltd would get enough support to pick-up the place of the defunct Rangers FC.
“Celtic fans, as well as those from Aberdeen, Hibernian, Dundee United and St Johnstone, together with fans from Motherwell, who could become genuine championship contenders [they were pushing us hard at the time], and from those clubs who would avoid relegation if Rangers failed, must insist their club votes against any prepack company parachuting into the league.
“Watch the media coverage of these events carefully. If and when the decision time comes, the case to acquiesce to Rangers Newco’s demands will be overwhelming. Sincere ‘impartial’ observers will do their upmost to convince us all we must do whatever necessary to save Rangers for the good of the Scottish game. Some voices will even tell you Celtic need Rangers Newco. Whatever part of my club is dependent on Rangers I am willing to lose.”
Pretty much all of the above came to pass but the position of the SPL clubs is noteworthy. As recently as last month Celtic were the only club prepared to vote No to Newco. In the months since Rangers went into administration in February the crescendo of fans voices slowly became impossible to ignore. Clubs which were set to vote yes, were left with no choice but to observe their ultimate paymasters.
It was a phenomenal grassroots campaign.
Kelvinbhoy asked me to pass on his thanks for the fantastic response to his appeal for kids bikes for underprivileged children. Well done to all who helped!
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ff in meltdown
Came home tonight from work feeling pretty ill, hot and cold flushes, aching bones, no appetite for food. Managed 3 pints of water (slowly) before a long hot bath. But I tell you, CQN can fair cheer up a sick man. However, bed at 9 for Old Man Jobo (ordered by Mrs Baldie or, as I prefer to refer to her on occasions like this, “my first wife”)
We may be laughing now but will we still be laughing in a month’s time
you bet
Robert Tressell @ 19.28,
ANYTHING by Pilger should make you sick. He is anything but a balanced critic of the wrongs that the USAS undoubtedly commits – he’s a bigot who seeks out every possible wrongdoing by that country (just as the Nazis did with the Jews & as the huns do with Catholicism). He’s also a hypocrite, having left Saigon on a US helicopter in 1975 instead of waiting to be liberated by his NVA comrades.
Has Davis said hes going as well???
Hail hail
Irish flag at Euro 2012
bankiebhoy1
Salim Kerkar wants a game up front
right I’m going to clatter this keyboard….
Can someone explain to me what Charles Green has bought for £5.5m?
What would he be selling if he finds a buyer?
Can you enter Div 3 if your team has no players?
What will they call themselves?
Why are websites like FF still on the go?
..so many questions…
Edu is off to Turkey apparently…stop it, it’s just too easy!!!
New name for Murray park
The Ghost house
just remind any ‘peeple’ you meet that Rangers are dead
mwd and lochbhoy
try driving bye in an ice cream van
wonkyradar on 26 June, 2012 at 19:39
Wonky, mate: I never thought I’d use a phrase like this, but here goes: thanks for posting that snippet from FF.
Pewr Kwality, man.
Except, except … too few FACTS, too few spelling mistakes, to many multi-syllable words got me thinking.
A quick run through my Textual Analysis App shows very definite traces of Aw_naw, James Forrest and BRTH.
Now that would be a collaboration worth witnessing.
;-)
Chuck is going to need those 19 players he had targeted at the Euros
McGregor gone?
Keep the Faith!
Hail Hail!
does Barlinnie have a disabled cell?
The big lump of a “Doactor” could still do a job between the sticks…………..
Paul67,
How far off the mark do think I am with this idea……….
Oldco players not transferring over to newco.
SFA are saying get application in for licence come Friday.
All the time a newnewco are forming.
Green can’t get a licence from the SFA.
Green hasn’t got any players.
Up comes ‘Sir Walter’ with a newnewco.
Newnewco apply for SFA licence.
Players say they will go to newnewco. (all free)
SFA grant ‘Sir Walter‘ the licence.
Green left with ground and training ground.
Green sells/has to sell ground etc to newnewco.
Daft idea?????
SSN breaking news
The Scottish football authorities have just announced that the new league restructure plans is for a five-a-side league
MinceCFC @CelticMindedcom
Best I can do on the “Ibrox Tonight” thread… http://www.webpagescreenshot.info/i/282457-626201290334pm.png [sniggers] It got worse before deletion…
ibleedgreenandwhite1 on 26 June, 2012 at 20:19 said:
I listened to the podcast you posted. I presume no one listens to these, otherwise no football fan would buy the Record at all. The tone used by Traynor alone is astonishing.
Jackson: Football needs fans.
Traynor: It’s a pity that.
How does he keep his job? The whole thing is just tripe.
Wage Bill
what wage bill
A lot of empty bras down Copland Road then!
Why are websites like FF still on the go?
because if it wisnae…they would be ootside bothering people… god knows what they will do at the weekends next season…and the next….and the next
I’ve not posted on here for a while ( mostly because i dont have the intellect) but I’ve been lurking every day & must admit there isn’t a better place to gather info regarding our deid neighbours. I started another new job recently & have now been paired with a fan of them who has decided to tell me everyday how much Scottish football needs & will miss them all the while I’ve just sat & kidded on that I cared but today he exceeded himself when while reading whatever it is he gets his info(fascist fascist) he let out a scream so I asked him why he was so happy, to which he replied “Wallace is staying ya beauty” I then asked as if I didnt know the answer, do oldco not owe hearts money for him? His reply, ah f**k them they’re getting f**k all aff us. They wonder why all these teams are going to vote no , this is just 1 example of their arrogance towards Scottish football. I look forward to tomorrow so I can lurk & smirk while he try’s to feed me jabba or keechs latest nonsense! Keep up the good work
The Maxwell Group top FTSE100 ….Warning!! Read at your own risk
The Old Huns new motto
YNWA
Wonky radar
Question…….I have been reading ff and been unable to find that classic that you quoted! You are having us on aren’t you? Even they would not fall for that! Would they?
On another point. What has happened to Billy No’well ? It must be time for another classic song regarding their demise.
Come crime with me, that should keep them glued to the telly.
Hun squad reporting back to training
http://www.youtube.com/watch?v=1WhhSBgd3KI
Ghost Town
RobertTressel,
I was going to say it would not be long before some fascist would be along to deny\justify murder tuesday, I did expect kojo\TSD or philvis,,, be first, but then every nazi out there is always expected to justify fascist methods, or attempt to discredit the source. And as usual its cherrypicking its argument the autrocities in Vietman being the cherry this time.
Pilger just about every lournalist award should be condemned for exposing the truth, typical eh.
Davies had an EBT and a side contract did he not?
Spent Sunday afternoon in the company of one of the few Rangers supporters over here (not a Hun, decent guy) and couldn’t keep the smile off my face, just didn’t say a word, spoke about everything but.
Had a really great day.
Hope Scotland turns it’s back on them completely.
James_Oregon
FF now reporting that their heroes have all walked to join up with a secret club organised by Wattie.
In years to come they may have the insight to look in hindsight and realise just how bloody stupid they were throughout all of this. They really didn’t deserve anything less.
Give us the Big Hoose guy to complete our night!
Utter carnage, absolute and utter carnage!!
Karma eh,….I wanst one who subscribed to that thought,…..I’m thinking again.
What goes up- MUST come down! ..Isaac Newtons first law.
Watties Carmyle wavers, cheerio :-))
curly on 26 June, 2012 at 20:43 said:
Can an implosion have an imposion?
CERN spent 100Trillion Euros trying to replicate a blackhole. rangers managed it with 100Million. That CERN mod are rubbish.
:)
Book