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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What I don’t understand is why the Administrators Los Dufferos have overseen such a shambles that allows the valuable assets aka The Players to walk away for nothing when they could have been auctioned off to help pay the Creditors.
Let’s hope Los Dufferos get the jail too…
The big hoose is just a wee bit too big for us noo
new article posted.
Comes in last
Bloke109 is Neil Lennon on 26 June, 2012 at 21:03:
You got it in one…
Keep the Faith!
Hail Hail!
The New Rangers/Sevco will obviously need a new Roy Orbison song(s) to replace Penny Arcade. Spoilt for choice:
It’s over
Only The Lonely
Falling
Crying
The BigO CSC
http://www.bbc.co.uk/sport/0/football/18603617
Love the picture showing mcgregor and Whittaker with the Celtic store in the background!
Gene’s a Bhoys name on 26 June, 2012 at 19:47 said:
Arty
No – only the official CQN cricket correspondent – You would be surprised how many closet cricket fans are on the b(l)og.
Ok. I’m out! Really annoying but I usually support England. Looking forward to the Aussies on Friday. Not that into county stuff, though.
To all the posters re “Knock Three Times”. Ah, the memories and the clothes – wow! Yes, I really did wear that stuff. The wife still has the curtains and I am still trying to come down to earth from the platforms. And a bright new DAWN as well, eh! – Merci baeucoup, mes amis!
H H
wonkyradar on 26 June, 2012 at 20:28 said:
Árd Macha on 26 June, 2012 at 20:16 said:
Why do these cockeyed onanistic borstal boys always have that ubiquitous “look”? The overgrown foetus look? Are these inbred’s all related or is that stunted, underfed, bulbous forehead with the receding hairline a symptom of some incurable pathology? At least some of the glaiket toothless wonders had the good sense to hide their faces.
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Now that was funny…….Absolute class my man.
You’ve sure got a way with words… .
:))))))))))))
Any chance this mass refusal to transfer is an orchestrated attempt to get green to sell cheap to Smith & Co? Then they all come running back when the Cardigan is in charge?
Excuse my French, guys. Should have been BEAUCOUP!
H H
Wonky 20 30
I think I remember that insane Elephant……
Uncanny.
http://www.youtube.com/watch?v=6BK-4lhsFII
Hi Paul,
That was a truly trial blazing piece, certainly not the first but maybe the finest … superb.
There seems to be a Phenomenal Irony in the fact that…
Scottish Footballers Supporters stood up against their Chairmen, Directors & Owners and declared – up wih this we will not put – and took responsibility for their Clubs actions and pulled Scottish Football back from the brink.
And
These same supporters are getting slated for their historic, heroic actions from the Fans, Vested interests and Sycophants of the erstwhile RFC who allowed their Chairmen, Directors and Owners to drive them over the brink to oblivion by their histrionic, hubristic actions.
wonkyradar on 26 June, 2012 at 19:39 said:
From FF:
>>>>>>>>>>
If that truly is their mindset (and not you at ye olde parody-type wind up!) then they have gone clinically bonkers! Thus it was always so methinks…
*~*
:-)
People saying theyll miss playing the huns-thats nutrition for the ff -and keeps the zombies believing-what do you prefer?-me -im a football fan-i dont like an” edge”-if its a sectarian one-this will not be the death of scottish football-hopefully-itll be a new dawn