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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Phil Moron
http://www.youtube.com/watch?v=bu7LquvfeQA&feature=youtu.be
First post!
Hail Hail all!!
The podium awaits, you’ll see.
ps. are they deid deid yet?
Foxy_1888
Welcome aboard
HAIL HAIL
Kelvinbhoy
Still got a bike fur ye.
Yorkston believes Dunfermline have a case not to be relegated. Excellent. So now re-hire Jim McIntyre?
Foxy=broxy
Clearly a Hun
Welcome
HH
Ha Ha
Just watched the wee video that was posted earlier about that chamber pot known as the Loving Cup.
As they were all taking tiny wee sips from the pot, I suddenly dawned on me where Craig Whyte’s is keeping his floater…
kikinthenakas
foxy = broxy, plus if you were looking to ‘prove your characteristics’ you’d put 1888 in your name. Typical one of thems.
Welcome Foxy_1888
New Balls – Please
sixtaeseven
Love the cunning ruse of ‘toasting the queen’ with it rather than the normal practice of ‘paying her taxes’.
Seen this on RTC C&P from twitter
====================
This was tweeted about 20 minutes ago ; any thoughts ?
RFC Blue – Tweeted on 26th June 2012
@stvgrant is this what Green has in mind tomorrow??
admin of newco, as a lead to a members voluntary liquidation (known as a MVL).
That allows the assets to be sold to any party not connected to newco, even if they are connected to oldco.
So, while D&P could never sell the assets (Ibrox etc) to say CW or Ellis for £5.5m, the owners of the newco under an admin or MVL can sell for say £7.
So you end up with say CW or Elllis owning all the assets for £7 and Zeus making over £1m
But for admin2 or MVL the newco needs to get to the position wherev they cant trade. No league role or no players.
This is known to IPs as a prepack plus1.
=======================
Then
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Members Voluntary Liquidation a Guide
http://www.companyrescue.co.uk/company-rescue/guides/guide-to-members-voluntary-liquidation
“Got a company that has cash, assets, few liabilities and no future purpose? Then MVL could be the most cost effective solution to your problem.”
Hmm…
Off topic but looking for some advice.
Anyone got any inkling of what areas near the city centre in Glasgow (West of City preferably) might be regarded as ‘up and coming’? I am very out of touch and looking for some advice on where one might purchase a decent flat, at non west end prices in an area that is nice to live in. ASking the impossible probably and it’s not for myself not that it makes any difference (well it kinda does because it’s for a young lady trying to get on the property ladder who I wish to remain safe and well housed)
thanks leftclicktic
damn it kikinthenakas, outed already. I was warned you bhoys on here were a cut above the rest. place is obviously infested with accountants and the like. I’ll have to be at my best……now where did I leave the brainy head?
I’ll warn you all though, I’m no fool. Posted for six months on FF under the clever nom de plume P.O’Neill before the bassas outed me. So just watch it!!
the goodwill with regards to other clubs voting no to newco is all fair and well but it must also be met with celtic being open to significant chances that promote fairer share of t.v etc… income, otherwise all the talk is empty. i am sick of hearing about the loss of a couple of million being key to maintaining a strong squad when it clearly does not make a huge difference if results are anything to go by.
never again can scottish football allow television money make 4 games against celtic and oldco/ newco god as it is this model which has helped destroy competition, we need a bigger
i think we need a bigger league with no split, 1 home game and one away game against every club in the league
what can we all do to change things for the better?
Kelvinbhoy
I have two girls children’s bikes if they’re any use to you?
RobertTressell on 26 June, 2012 at 17:26 said:
It’s very worthwhile looking at the North Kelvinside/Maryhill fringes eg we lived in Lyndhurst Gardens at one point, flats in Braeside Street, which was a continuation of the same street sometimes 10s of thousands cheaper for same size.
Dumbarton Rd around and beyond Partick station (Thornhill) is improving.
RobertTressell on 26 June, 2012 at 17:26 said:
Off topic but looking for some advice.
—————————————-
Try yorkhill area[just down from the hospital..old TA building etc] or top end of queen margaret drive new properties there….and now over to phil who is looking to help some young footballers relocate….HH
location location csc
RobertTressell
Stayed in Anniesland on the boundary with Temple. Similar flats to the west end but much, much cheaper.
It was just off Fulton St less than 5 minutes walk from Anniesland Cross.
RobertTressell – Quick one mate, and not the answer you are looking for but…
I’d advise your friend not to get on the property ladder for at least 2 years, unless she finds an amazingly brilliant deal or has some other reason compelling her to buy.
It’s gonna be more snakes than ladders for the near future and this might be the worst time to buy since 2007.
Property prices are being artificially propped up by the lowest interest rates ever and it can’t last. (thumbsup)
Thought for the day-
In so called Protestant,Presbyterian,Calvinist Scotland,Catholic schools outlived Rangers Football Club.
CapitalPunishmentcsc
starry plough on 26 June, 2012 at 16:54 said:
It is weird and very telling that so many of the upper echelons of the hun fraternity never put their own money into their beloved club: Slur Minty, Dave “Tax Dodger” King, The Whyte Knight, Agent Green, The “other” Murray wae the Tutti Frutti haircut, The Cardiganned Myth…on and on and all sharing the same trait of never putting their hands in their pockets.
They don’t know the meaning of the word Sacrifice. It’s not even in the hun vocabulary.
RT
shared equity in a new build next to Gaelic school. at Finnieston…(2 year old)
Brechin St…
RobertTressell – PS – now’s a good time to build up a substantial deposit though. (thumbsup)
@STVGrant It’s Sevco 5088 because Green isn’t operating a football club at present. If/when he gets Rangers’ SFA membership, he’s operating Rangers FC
Lads regarding this MVL I’m going to send you a few tweets from this guy, he’s a hun but he talks about Zeus having a conflict of interest.
Ribs n Wings @BadHungryAnimal
@ChrisGraham76 @Yaco1872 facing a newco insolvency event. This will happen. Mark my words. We will no longer exist come the end of the week.
@ChrisGraham79 @Yaco1872 Also nobody seems to ? the fact that former Rangers finance director now work’s at Zeus.
Conflicted?
Bhoys thanks for the advice. Will pass it on.
Philv – I know what you are saying, circumstances are kind of playing against her at the moment though, hard to advise anyone in this climate.
PauL67……. No, you are PHENOMENAL ……..Jabba, you are a sick-minded, sad FUD of the highest (or orange) order. Twisted little man, desperately trying to save your job. TOO LATE, you cannot now inflence people towards your agenda.
Philvis
I’d disagree mate. I’ve been giving a bit of advice to a girl in work who currently shares with her sister but is now looking to go it alone.
I’ve been astonished at the bargains that are there just now.
That might just be Glasgow though.
Quelle que soit la partie de mon club dépend de Rangers, je suis prêt à la sacrifiée.
Nice one, Paul!
Any other translations?
RobertTressell on 26 June, 2012 at 17:26 said:
Off topic but looking for some advice.
It might all depend on price and how many bedrooms she wants- any ideas?
RobertTressel
Your friend could also consider area’s like Clydebank, Old Kilpatrick, Yoker. Slightly further outside the city but not as expensive to buy also 15 minute commute on the train into the city centre.
Picture of laugherty ” walking away” HH http://twitpic.com/a0swjw
Celtic Underground @celticrumours
Looks like Forster will be signing a permanent deal with Celtic.
their will be a few flats in the west end coming on the market shortly
Paul67,
“Whatever part of my club is dependent on Rangers I am willing to lose.”
Gossebumps the first time I read it and the same again a wee minute ago. Brilliant.
Paul67
You’ll know that Irn-Bru are using a different tagline which, will more appropriate to the scenario disucssed, may contravene your own rules. Well done for steering clear :-)
Gents thanks again, will keep reading back and pass on your tips.