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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BT
hun shop
PInta Guinness
Tennents Bar on Byres Road— corner of Highburgh Road– about 6 blocks down from the Grosvenor– later on Oran Mor– the big Church right across the road from the Hotel.
Otherwise anywhere in Ashton Lane– same side of Byres Road as the church but turn left at Iceland and into the lane
EDB
Below the belt young mhan
LOL
soal.. kma
pinta
walk down to the bottom of byres rd to the dolphin…
plenty of nice pubs till u reach Partick…
Ashton lane will be ok, just past iceland on Byrse rd.. hope you have plenty of dosh…
a nice wee walk over to Butanical gardens first will keep her sweet… o))
West Wales Celt on 4 May, 2012 at 19:47 said:
“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?”
They actually sell the assets for £11.2m. That money is then in the RFC piggy bank. The problem for creditors is that It diminishes every hour as D&P continue to try get a CVA. It is quite an incentive to the creditors, especially Craigie Bhoy as they see £11.2m become £11.1m become £11m become £10.9m become………)
Whitedoghunch,
Bill Withers? Don’t we all
Hows it tonight mi hermanos?
Thanks Brogan Rogan
Plan to eat at Oran Mor. Wife going shopping whilst I do well…….men things!
Cheers
The Ghood will prevail on 4 May, 2012 at 19:10 said:
Rangers (Old or New) should not get a licence for next season under the UEFA rules unles a case is made for an exception. That case (to my understandig) has to be made to UEFA, the SFA can only apply the rules not change them..
On why a Newco can get punished by football it is because although under civil law they would be a Newco and so can dodge the tax, under the Football Law that allows them to continue, the Newco are not in fact a Newco and so can be punished as if they were Oldco.
Rangers want it both ways, avoid the tax and avoid the football punishment. They have no chance. If they remain in football it will be under conditions football will impose.
if the SFA had the balls and said no license OR UEFA rejected any case for an exception they could not be granted a license. Just as failure to get a license means no UEFA football so too it should mean no SPL football.
thi sis why STV grant has said a license (for the SPL) is not guaranteed , it is not possible under the rules.
The bottom line with Miller’s newco scenario is that it is is legal and normal practice in some administrations and both him and D&P will have done this type of thing before. However what makes unlikely here is that normal businesses do not have Football regulations to get around i.e. SPL/SFA/Eufa which will kick it into touch.
That’s is if it ever gets off the ground. The the ‘wise money’ is that it is just a charade; or a bit of publicity for the yank; or he is doing someone a favour- Ticketus/Whyte/SDM/D&P either acting on their own or a combination. The endgame will be liquidation with or without newco and CW/ticketus getting the floating charge , D&P millions in fees (£200k a week being reported) and the new owner selling a ‘clean’ newco in a few years time for £20m+ . Good money all round and everyone’s a winner.
How much was it that SDM put in to RFC the last time oh yes £20m interesting…..
WDH
I detest that boozer also…
BRTH
sorry didn’t get to say hello on Monday..
Blantyre
Many thanks.Will do all of the above :)
deekbhoy on 4 May, 2012 at 19:52 said:
I thought it was the job of a Liquidator to sell off-assets., and the Administrators role was to keep the current entity alive.
This is all a rouse. D+P and SFL/SFA (we tried) throw Windy Millers moonbeams into the real world, and over the coming days the utopian solution is blown out the water, by reality.
When witchin’ hour comes, they all tried their hardest, but there was no other option.
HH
pintaguinness on 4 May, 2012 at 20:04 said:
Jinty McGinty’s on Ashton Lane. behind Hillhead underground, a few good boozers there. I don’t know if he still does but Lenny used to drink in Tennent’s bar, upstairs, on Byres Road
gerald766
I agree… though thats not necessarily a good sign ;)
BRTH
A brillaint post earlier. I wrote a very poor man’s version of it on the previous article based on watching the infectious enthusiasm of a wee Thai Bhoy in Parkhead, Glasgow last night.
Busy few days so just catching up……………..
So for the benefit of the Huns and the Sleeekits………..
The ranjurs are gone! Deid.
An Ex- club.
History and tainted titles in the bowl and flushed!
‘Fishally ‘n’at……!!!!!!!!
And all the rest will be wee chic and his boul’ jeerleaders doing their best to revive
‘ae fond’ memories………..?
Good.
We’ve shown we can handle them already.
Well-done Paul67
HHH.
pnta
was visiting on Byres road today and I was told Tennents do good food..
I must admit I like Paperinos on Byres road…(italian meatballs are superb)
I fully expect to be told off by WDH
pintaguinness on 4 May, 2012 at 20:04
don’t eat at oran mor just don’t.
The best restaurant in Glasgow is right next to it
Cail Bruich 725 great westeren road.
Thank me later.
Have lunch at No.16 Byres road they are doing free corkage all weekend on bring your own wine
Thanks for that Laird, Tennents comes highly recommended
If I see Lenny I’ll tell him you were asking for him:)
Thebould Hector’s bhoys….. Tá ár lá anois on 4 May, 2012 at 19:13 said:
“Clubs are not allowed to change their legal form or structure in order to obtain a licence, simply by ‘cleaning up’ their balance sheet while offloading debts – thus harming creditors (including employees and social/tax authorities) as well as threatening the integrity of sporting competition.
Any such alteration of a club’s legal form or structure is deemed to be an interruption to its membership of a UEFA member association and, consequently, three years must pass before a club can apply again for a UEFA licence. In other words, the three-year rule is designed basically to avoid circumvention of the club licensing system.”
“If a club sets up a new company simply to avoid paying its debts or obligations then they would almost certainly fail the three-year rule [for obtaining the required Uefa licence] This is to ensure clubs do not simply create a ‘newco’ and leave the previous entity in charge of dealing with debts.”
____________________________
I remember reading that somewhere, can you provide the source? It emphasises the point I’ve been making. Paul67 thinks it will be circumvented/not applied. I do not see how. The process is there to see, a license cannot be passed on a wink and a nod basis, that is how Rangers got away with their skullduggery for ages. It is unthinkable the SFA would try and dodge the process, not with UEFA watching.
BT
There is always the next time–
Hamilton Tim
Thankyou– but your post was just as good as mine— its the feeling you express that is important not how you express it.
Watching Blackpool v. Birmingham
Is it a contractual obligation for the Championship play offs to include Stephen Dobbie.
He seems to be involved every
pinta
as crabbit as he is he does know his food…
… year.
Whitedoghunch
Thanks fro the steer, will have a drink there first and see food being brought out
BRTH
I was too shy to say hello…
Just watched the end of Kenneth More’s The 39 Steps, did it for English @ School in Whifflet.
Aul’ Philvis didnea know that, sure he would be proud.
Anyways
Reading PMcC’s blog he raises some excellent points as usual.
This player situation seems rather odd, on the BBC they had a difference of opinion on whether the R@ngers’ Players would be playing in the NewCo.
That’s not the odd thing for me, no the odd thing is that D&P stuck them in with the deal which also included mortgaged properties.
Now it seems due to TUPE laws etc that the players may well have an opt out, so why would D&P not just leave the players who had a substantial resale value with OldCo and sell them whan the transfer window opens, in fact ask the SFA to allow an early sale.
After all they haven’t been reticent wih their requests so far.
WDH
Do you have any suggestions for a good eatery in Barcelona?
Thanks
Brogan
Still think Lustig should have played ahead of Mark Wilson last night. Even though Mark is a true Tim. His time is over at Paradise. We need to look to the future. Also thought young Tony Watt should have come on for Stokesy with at least half an hour to go. By the looks of things Dylan McGeoch’s best position is through the middle, where he can go either way. He is tidy on the ball, can beat a man & has decent vision- he’s just not a winger in the mould of James Forrest. Could be wrong. Early days, maybe he just had a quiet game last night. Thought wee Ibrahim looked good- really like to see him feature in latter stages against United- then maybe a start against Hertz?
Flippin heck Brogan
WDH and Barca… o))
ThisIsTheOne on 4 May, 2012 at 20:15 said:
I thought it was the job of a Liquidator to sell off-assets., and the Administrators role was to keep the current entity alive.
The Administrators duty is to get the best return for the creditors. This is by selling the assets to a buyer. If the ‘transfer window’ was open they could have sold a few players (assets) alyers
BT
Eh??? Don’t be so daft next time then… sure what is to be shy about?
whitedoghunch on 4 May, 2012 at 19:56 said:
Bill Withers
Doing Impressions 1:
Stand in front of the fire till you’re Bill Withers
Eldiegobhoy. jimmys my first name ,same height as tarmac ,whats your point please . thats my views on these bankers who proped up the huns for yrs,should be in the jail them arrogant people,
All this talk of an SPL without Rangers leaving Celtic fans deserting because of a lack of interest needs to be examined.
It is difficult to judge trends in attendance and whether title success leads to satiation or boredom. Previous generations did not have the season book/card phenomenon. It seems to me that we get increased attendances when we are successful and in the running for awards but, if a run of success gos on too long, we tail off a bit towards the end.
See if you can make any more sense of this than me. Figures courtesy of Celtic wiki
Celtic’s average attendances year by year
BRTH
What BT means is that he was sober so therefore too shy to say hello!! :-)))
HT/BT
Sober????? That is a concept I bump into occasionally……….
Brodan
I’m a hairy assed eejit on CQN..
you bhoys blow me out the water with your posts..
I was standing with a couple of bhoys who walked away from me because I was CQN, they where kerrydale..I couldn’t believe it..
there is obviously splits on Celtic cyber space..
even on cqn…