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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Green might be able to cover the wage bill after all – It might not amount to much
DontPatmadug on 26 June, 2012 at 16:29 said:
Never mind BFDJ’s CSA payments………..whit aboot the money for his PSA?
(Pie Supper Addiction)
Well, Glasvegas saw it coming :
Ice Cream Van
——————-
There’s a storm on the horizon
And for that I can’t see the sun
For I’ll keep a waiting on the pavement
For the ice cream van to come
It’s die hard hate to follow
And I’ll not follow that
The marching people running ’round my head
Running ’round my head, I don’t know why
I don’t know why
Why can’t we see
Straight through the powers that be?
Who keep us breaking each other’s hearts
And keeping us apart, keeping us apart
Destroying the ground where gruesome lays
Sectarianism and the hurtful racist ways
Bring back the glory days
Active citizenship and pure community
Freedom of faith
There’s a storm on the horizon
And for that I can’t see the sun
For I’ll keep a waiting on the pavement
For the ice cream van to come
For I’ll keep a waiting on the pavement
For the ice cream van to come
For I’ll keep a waiting
For the ice cream van to come
Dae you want jelly wi that ;-)
Hail! Hail! PMTYH
The Comfortable Collective on 26 June, 2012 at 16:32 said:
Certainly not beyond the realms of my imagination as I postulated similar the other week.
alex thomson@alextomo
Spoken to G Souness’ lawyer. No comment as yet, hoping to hear more from him tomorrow.
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5m alex thomson@alextomo
And categorically denies rumours that Mr Green is about to sell to a Canadian Pension Fund
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7m alex thomson@alextomo
Spokesman for Rangers new company says they have no problem paying staff this week
alex thomson @alextomo
Spoken to G Souness’ lawyer. No comment as yet, hoping to hear more from him tomorrow.
If Lafferty is leaving that’s the first bit of bad news for months!
Oor Paul on the Ol’ Twitter :
Concentrated effort under-way to undermine Charles Green. SFA give arbitrary tight deadline/tomorrow papers. Blog later on CQN.
Alex Thomson earlier apologised unreservedly for the Greig statue gif file he posted – didn’t know the circumstance, apparently.
weeminger on 26 June, 2012
Sorry, I didn’t see you post before. But I was frying suspicious by the ‘type’s of player who is being vocal about leaving.
I would have thought the foreign players with no attachments would be the forts to go. Hence my suspicions.
ASonOfDan on 26 June, 2012 at 16:30 said:
Thanks for that. As Mr Dodds is my MP I have written to him congratulating him for his stance on illegal flags and enquiring when he intends making similar statements about all the other illegal paramilitary flags around the country.
Mort
I’m hearing on the grapevine that McCoist was looking to replace Adam Richman on Man V Food. The producers of the show however told him that they needed someone who would not always be able to win the gargantuan food challenges set before them………
Kelvinbhoy or anyone please –
is there a link to the bikes campaign ?
Let’s assume Chuck cannae go on in the mode of football club. He can give up that game, free the players and put on the padlocks. He’s still then the owner of several real estate sites in mothball. Assuming he doesn’t need to repay anyone the £5.5m purchase (no laughing at the back) he can sit tight until someone offers him a big price he can accept.
HH
Mort on 26 June, 2012 at 16:43 said:
Possibly best not to hold your breath on that one, mo chara, lest your face turn the colour of an RFCIA shirt (remember them?)!
The Comfortable Collective on 26 June, 2012 at 16:41 said:
I expect to be ignored to be honest. To be fair mine was slightly different, I’d suggested that when he withdrew the offer to buy Uncle Wlater might launch a rival bid for the SPL share with the team operating from Hampden until such time as Ibrox could be secured.
e Comfortable Collective on 26 June, 2012 at 16:32 said:
Aluko aside, all those who say they aren’t going McCabe, Naismith, Whittiker, Lafferty, Ness, Fleck and Davis (to be announced) are all either Scottish or Irish, the very players you would say are fans as well as players if rangers. (unlike the Americans or Romanians for example).
Is it beyond the realms of fantasy that 13 or 14 rangers players, all of the fan variety, do not transfer over, then join together to announce they are joining a brand new club, with say Walter Smith at the helm, who announce they are the continuation of rangers IA, they are going to rent Hampden for a year, and apply to join the SFL?
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It’s possible, but I read in the guardian’s ‘secret footballer’ column (written by an ex EPL player who is keeping his identity, well, secret) that when his club was relegated he knew he had played his last game for them. Despite being a multi millionaire the wage drop going in to the Championship meant he wouldn’t be able to meet the mortgage payments, the business investments etc he had made.
Bottom line, people tend to live within their means. RFC players of old club will have expenses to match income. I personally think this is about them reading the writing on the wall, having to get decent money to pay for their lifestyles and getting the hell out of dodge….. (or maybe ‘lodge)’ city
An Fear Dearg
No fear of that. Hypocrisy is a word few DUPers understand.
Mort
Huns at my work are in a state of stupor, deny that Rangers history is dead once liquidation comes, but cannot commit themselves to Green FC
Bhoys another reason why Oldco players won’t be joining Wattie – whatever for the Newco takes they will not be in the SPL. They will not be in europe for three years. They cannot guarantee the wage levels of old.
Naismith and co will smell cold hard cash in the Championship or EPL and go and fill their boots. I’ll eat mine if they don’t ‘walk away’ entirely from Scottish fitba if they have any talent at all. Some will end up at Hearts, Aberdeen or in Elbows case ‘We all believe it’s Not Rangers’, most will head south or to money making schemes in the states or far east.
Is there any proof anywhere that ole Chas Green the Gobmachine has actually paid for anything anywhere??
P.S. even if the Myth was to come in with a new frontloaded warchest and a hybrid consortium they still wouldn’t be playing in the SPL…
The loop hasn’t been closed, as those walking away have nowhere to go to until a transfer window opens. They’re merely exercising their rights to prevent themselves being part of the unsustainable newco and will join new clubs within ten days of the start of July.
Good to see that Jimmy Bell (hateful kitman) has decided to stay at rangers
he is taking up a new position next season…. left back
BLOKE 109
What,within ten days of the start of July?
Just in time for walking away,then…..
iv got to say, im truly heartened by the “say no to newco” majority of scottish football fans… im also heartened by our quiet tactic. because at the end of the day, our club dont need to put any of our fans in any danger…
at some point, this tidal wave of mistakes must end for them. and they must get something right ??
i just wonder what it will be.. :)
my one request would be for the national press, SKY, whatever media… to actually report this whole episode, as a credit to our nation, that WE want, what is right for our country.. that scottish fans want integrity within our national sport.. above all else..
CC
Cannot see players like walking away from Sevco to hang their coats on a Wattie zombie facing the same problems .
More likely they will look to secure other clubs that actually have a license to play ASAP .
In fact their agents would be lacking if they had not already found new clubs for them by now .
HH
Mort on 26 June, 2012 at 16:50 said:
Talking of local unionist politicians, am I right in understanding that their leaders have pledged their support to the North of Ireland RTID campaign? And that they turned up in significant numbers at their recent dinner to offer support?
Given how their previous pledges to defend unionist institutions turned out (B Specials..UDR…RUC…) that surely ought to have been yet another warning sign that RFCIA were doomed!!
Come first day of start of next season will the zombie hordes be wandering around Ibrox park (in padlocks) in a dwam of ignorance
RobertTressell, your logic regarding the cut in wages and playing your best years in a lower league is undeniable. They’ll be scattered to the four winds to keep themselves in the salary they are used to.
However, I think I might start a rumour in the work amongst them, that I’ve heard from an impeccable source, that that is what Wattie is doing in the background.
starry plough on 26 June, 2012 at 16:54 said:
Is there any proof anywhere that ole Chas Green the Gobmachine has actually paid for anything anywhere??
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Has anyone ever paid a penny of cash that was not a loan from a bank or a dodgy finance agreement?
The fans of Deadco have never really got their heads around this – they have made rich people like David Murray richer while sucking in the lie that Murray was pumping money in to the club. £6 million in in loans, loans financed by the club, £6 Million out in EBT’s alone and god knows how much else from catering and other services, expenses and allowances.
It’s much the same as their attitude to the Monarchy. QE2 has leeched hundreds of millions from the people of the UK while her followfollowers doff the cap and think she makes them dignified and superior. Stupid, stupid deadco orcs.
Bobby Murdoch’s
I so want the 12th to be the date of the end.
Can anyone on here remember Declan on rangersmedia having it out with someone and then they started to mock us, anyone have this info.
Paul
Another excellent post on so many fronts. We can freely make reference to the word fanny without a yellow card and it is made all the sweeter that it is an orange coloured drink!
Pity about it being newco tho. We can’t make reference to them coming from a long line of fannies, but you can’t have everything!
Madefromgirders CSC
The Comfortable Collective on 26 June, 2012 at 17:00 said:
RobertTressell, your logic regarding the cut in wages and playing your best years in a lower league is undeniable. They’ll be scattered to the four winds to keep themselves in the salary they are used to.
However, I think I might start a rumour in the work amongst them, that I’ve heard from an impeccable source, that that is what Wattie is doing in the background.
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The cruelest of things – to give unfounded hope to the truly hopeless. Sounds like a good idea to me!!!!
Good to see the tribes getting their messages through to the nobles of scottish footba´ clubs, making them see that if we cave in on sporting integrity then we might as well all chuck it. That financial model, the Rangers one, has not worked, we would be lemmings to allow them to parachute in, not that there aren´t a few about.
I had faith in the scottish football public. Less in the scribes, knowalls and all and sundry who undermine the game in Scotland. Rangers were incapable of reforming themselves but they provoked Celtic, who have been maturing from the experiences of the violent seventies, along with the likes of the tartan army, to the limit, with the Jock Stein song, the famine song and McCoist challenging Lennon on the touchline as just three examples.
I remember Jimmy Johnstone talking about trying to sleep the night before a game against them and how he would be sweating with the nerves of it all. I also remember, aged 10, sitting in the main stand at Ibrox and how “respectable” “gentlemen” in their suits, ties, overcoats and hats spat out venom against the wee man as he jinked along the touchline below. You would have thought he had committed a heinous crime.
I knew all about the west of scotland religious divide, but at the scheme level with gangs or all the jibes at school but you could only imagine what might have been the professions of these rangers season ticket holders.
Jimmy himself later said it was the greatest club match in the world and that is all the more special coming from him. That match was in the early seventies but Neil Lennon and Aiden McGeady were subjected to constant racist abuse well into this century.
Those bitter old guys in the stand at Ibrox left their seats early that day as Celtic won 3-0, goals from Dalglish, Lennox and Callaghan.
Thanks to all who are raising the level of debate here on Celtic Quick News, as well as all the brilliant humour! The old media is actually writing some interesting pieces now, due to this competition, see above article on an attempt to expel five clubs in 1964.
If we continue to know the history…..
weeminger on 26 June, 2012 at 16:49 said:
I would be intrigued to know what the SFA would charge a cash strapped triggers broom fc to play at Hampden and I’m sure wee Fergus would be also .
John McGlynn takes over at Hearts.
From now on we must point out to everyone who raises the Rangers question that Rangers will die on liquidation, goodbye, no future, gone, cannot be resurrected/re-imagined/re-emerge/whatever the MSM apologists try to spin