In response to some of the more excitable comments from yesterday it might be worthwhile painting the possible scenarios for Rangers.
No Sale
If Bill Miller is unable to complete the sale (remember, he’s not even paid the deposit and has no intention of doing so), the club will reach the end of the season and run out of money. It will then either expire completely or Duff and Phelps will try to cut a deal with Ticketus to allow Rangers to sell season tickets and retain more of the money than they are currently due.
Rangers could continue to operate in administration for a while to come; Motherwell were in administration for one week short of two years. The club would be unable to afford player wages after they return to normal in 1 June so would be forced to pare the squad back, whether the ban on player registration remains or not.
Miller completes purchase and the SPL vote him into the league
If Miller completes his purchase, as it stands, the SPL board will have discretion to transfer an insolvent club’s share in the league to a Newco. Neil Doncaster has pinned his colours to the mast on this issue, Steve Lomas explained St Johnstone’s willingness to also vote Newco in. Celtic will vote against which means if either Motherwell or Dundee United vote in favour of Newco, they will be allowed into the league.
I have no doubt that both Motherwell and Dundee United will vote in favour of Newco. The SPL will vote to introduce a new procedure for dealing with Newco on Monday but it’s far from clear this proposal will get enough support.
For Miller, there are complications with this issue. He would inherit all football and financial penalties due for Rangers and would also be expected to pay Rangers football debts – around £3.5m.
You can largely ignore the £160k Fit and Proper fines from the SFA but the SPL inquiry into Improper Registration of Players for over a decade will be the biggest charge in the history of British sport. We should be looking at fines commensurate with the financial benefits accrued and multi-year sporting punishments.
If the SPL rule amendments Newco are rejected on Monday (as I expect), there are some who are concerned SPL board will impose lighter penalties than those suggested by Neil Doncaster’s new rules.
Alternatively, Miller could tell the SPL to stuff it and apply to the Scottish Football League. Ally McCoist has already threatened this in response to the already-imposed fines and the notion is popular among Rangers fans I know. If the did this, Newco would not have to pay Rangers football debts and would be subject to no penalties or player registration bans. They could budget for three years of lower-league football and then tool up for the summer of 2015.
You can expect some though talking from Rangers on going to the Third Division in an attempt to spook the SPL into offering limited, single-season penalties.
Among the many unknowns, we can be sure of a few things:
Rangers Football Club, established in 1872, is finished.
Some form of phoenix will happen, if not for next season, then probably by 2013.
The SPL will complete the inquiry into Improper Registration of players, whether Rangers exist or not. If a Newco is granted Rangers SPL share, penalties will be punitive.
Notions that ‘Rangers’ are going to emerge debt-free, strong and able to compete as though nothing has happened is simply nonsense. Their club is dead. They will start a new club, it will either be back in the SPL unhindered in 2015 (or 16) or will be in the SPL next season, heavily burdened for many years to come.
My prediction is for the latter.
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1,379 Comments- Pages:
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BlantyreT
Readin your comments I think Ithe more you say it doesnt mean you’ll start to believe it :))
ahhh, changed days…
i recall when once we were told rangers would assemble TWO sides, one to play in the premier division, and one for the european cup…
now they’re looking at one side to play in the third division, and one to play in the challenge cup.
:-)
The walking away has started with sasa papac.
Next sone aluko and Lee mcculloch who have a new agent in Liam O’Donnells pro legal sports management company ( broadfoot has been there for some time ).
The tunnels are being dug!
pggtips2 on 4 May, 2012 at 19:15
Very insightful post. Good stuff.
I remember a while back on here mocking the prospect of the huns in Div 3, ha ha.
The best of the bunch…was something like
East Stirling 6 Rankers 0
Match abandoned due to crowd trouble in the Away end…..
Still laughin at that one.
adi
I didn’t hear it..
ok i will chill… still believe the huns should die…
wonkyradar
I know……………..its all so wrong in so many ways.
Wine time… o))
3 year Euro ban…?
Aye right,…How many years were they in Europe in our rightful place, the scum.
SPF
did you get parked ok last week?
BlantyreT
Cool !
ST renewal time for me & the grandson………..what to do / what to do.
I always take the ST less the honey games…the question for next season, are they in or out………and what are the options……..
Decisions / decisions
Paddy
Paddy
when I can afford it I will renew….
mini has told me so…
Never scrolled past so many posts on CQN as I have tonight. Attention seekers in abundance tonight.
BT…..you’ve been saying that for years………you should get in cahoots with Sannabhoy……..him and his team will look after mini……you can tag along as a helper.
Paddy
The bould Hector’s bhoys….. Tá ár lá anois on 4 May, 2012 at 19:26
Cheers
I would happily settle for a nil-nil between them next season (=8
That really would be worth it
Paddy
I gave up my season ticket last year..
mini was there last night, I wasn’t .
.she has missed 1 game this season ..
wonkyradar on 4 May, 2012 at 18:59 said:
Can we trust ANYTHING Duffer & Duffer say?
Do you really need an answer to that one?
Question.
How do administrators effectively transfer all assets from RFC to the incubator ‘huns 2012 co’ without the consent of the majority share-holder and the numerous creditors?
Just asking like…
jmccormick on 4 May, 2012 at 19:02 said:
no shame, no class, no money, no team.
====================================
Great line for a Punk style song about them ‘uns…..
reaching for my guitarCSC
West Wales Celt on 4 May, 2012 at 19:47 said:
Question.
How do administrators effectively transfer all assets from RFC to the incubator ‘huns 2012 co’ without the consent of the majority share-holder and the numerous creditors?
Just asking like…
They are not transferring as Mad Max Miller is paying £11.2m for them and then putting them into a newco. D&P can argue that that was the best price they got for the assets as he is the only bidder. That’s the easy part …..
BT
Yes I did.
I’ve never been in down that neck of the woods before.
Looks as if I’ll be back for one more visit.
That time it was just for a ‘viewing’.
Next time Mrs SPF insists on me closing the deal!
Gulp.
Thanks again.
SPF
SPF
never never never…
rubber rubber rubber… o))
Bill Withers
pggtips2 on 4 May, 2012 at 19:15 said:
========================
Good post and well worth the read.
Like you say a Newco pretending to be rangers with a lot of Oldco followers will be a big scalp for the wee teams. And let’s not forget that in those divisions there are three or four teams already thinking they can get promoted next season. they are not going to roll over and be tickled by Johnny-come-lately or Billy-big(ot)-boots.
It ain’t going to be easy getting players to play for them in Div 1,2 and 3 either. In reality, even if it all goes to plan and in year three they get in to SPL they will need a new squad at that stage. HEarts, MWell and others may by that stage have realised the benefits to themselves of keeping them down and respond accordingly when they come calling. So, bed in an entirely new squad (with how much cash at that stage? do they go to the fans for a share issue? do they go back to the future and gamble on getting euro money in season 4?)
Goosed I tell ya, goosed.
Well done to KevJungle earlier on – quoting Darth Vader on Star Wars Day!! May the 4th be with you.
Fholks, please tell me liquidation is still on the way? I have been caught up in the euphoria of the last weeks and those bottles of Moët is still stare at me every time I open the fridge. I can almost taste it, three bottles, first one to pour over my head, second to quaff. Third one by the way for the passing of the Grantham Grocer.
t used to be said that the only two things in life you could be sure of, ‘are death and tax’s’, there are no ‘newco’s’, just dead ‘oldco’s’! Regardless of the relentless ‘misinformation’ emanating from ‘Fluff & Fluffer’, they are DEAD!, EXTINCT!, HECTORISED!, KAPUT!,
What we are witnessing are the administrators trying to ‘queer-the-pitch’, trying to justify whythey have not LIQUIDATED a failed entity!
The will be no ‘second-coming’, no visits to LOURDES, no ‘Vinny Jones ‘hands-on resurrection’.., They are beyond redemption! Their ‘get -up-and-go’, ‘ has got-up-and-went’, they are about to join the dodo’s, and their ancestors, ‘The neanderthals’.
Our Board know this, they read these pages, and they also see no reason to ‘interrupt’
the enemy wilst the are ‘digging’!
Be just and fear not, they are about to be GONE!!!!!
West Wales Celt on 4 May, 2012 at 19:47 said:
Question.
How do administrators effectively transfer all assets from RFC to the incubator ‘huns 2012 co’ without the consent of the majority share-holder and the numerous creditors?
Just asking like…
===============================
just one more reason why it ain’t going to happen.
as you know the ‘incubator’ is yet another distraction and sop to the low brow intelligence of the average bear.
Bedtime fairystory for the Loyal:
yes, it’s a newco, but look, we’ve got oldco over there and it is going to join us just as soon as HMRC agrees not to want every penny back from it…… go to sleep, sweet dreams, it’s alright………’
They really are that stoopid!
Scotpatsfan:
We have really missed the sharp dangerous Commons of last season. A huge loss when you think of his goals & assists. Very unlucky with injuries this season. Unfortunately, i do think any injury can derail him to a certain extent, with the body type he has – on the tubby spectrum, like myself- last night he was very greedy at times, shooting, when a pass was better option. Probably because he is trying too hard, overstraining, & snatching at shots. The rest of his game is getting there. A good injury free pre-season & hopefully he will be primed & ready, to ride the crazy rocket torpedo next season…
Heading oot, have a good May bank holiday. Up the Celtic.
One team in Glasgow, one team in Glasgow
sitting in BB’s(for my sins)
I was pro Chris Commins and big Sammi..
good to see I was not alone…
I still think adi is an orc… o)
What happens to the joint Tennents sponsorhip with a Newco?
PS Please recommend friendly pub near Byres Road. Me and Mrs staying in Hilron Grosvenor tomorrow
All the way from Fife to the “big city”
BT
Is Patch Adams in?
Paul67,
May have been asked before and you may have already responded. Ignore me if that is the case.
You say “Newco would not have to pay Rangers football debts and would be subject to no penalties or player registration bans”.
I say the ban is an SFA one and not just an SPL one so they would still be subject to a player registration ban.
We all know who the rich huns that are going to pump money into there club,RBOS,HBOS
I listened to that numpty Paul Clark’s interview on last night’s BBC for the first time tonight. He is a budding politician as he will/does not answer the question posed to him. What I did find interesting was that he said that it would take many months for the Oldco (incubated) to achieve a CVA because of the pending court cases. In other words if the huns don’t liquidate imminently they will still be in administration at the start of the new season and, therefore, would have another 10 points docked.
I personally don’t think the Miller thing will get off the ground without Hector getting heavily involved. I wouldn’t be surprised if, after watching the administrators’ shambolic performance last night (on national TV), Hector moves to have Duff and Duffer removed sooner rather than later.. So far they have done nothing to secure anything for the creditors, just presided over 3 months of smoke and mirrors whilst inflating their own bank balance.
So I think it will be liquidation by Hector or a slow painful, hopefully, continuation of administration into next season and beyond.
Hail! Hail! pogmathonyahuncsc
What happens when ‘they’ find out he’s Catholic?
timbhoy2
Are you Jimmy Tarbuck? In disguise!