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.
You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.
The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.
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Doing Impressions 2:
Stand in front of the fire till you’re Tommy Burns
Byers Rd. god miss the place
Spent 10 years drinking and eating there every weekend
Yes indeed no 16 was one of the best , but you canny beat the chip for food or. Jintys for beer
On a cold Sydney morning wish I was there right now :(
St
Brogan Rogan Trevino and Hogan supports Kano 1000 on 4 May, 2012 at 20:25 said:
WDH
Do you have any suggestions for a good eatery in Barcelona?
;-)) :
http://www.loscaracoles.es/index1.htm
Sorry hit send button by mistake
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) and put the money into the creditors pot and everyone would have said that was good business.
In this case they are selling the assets to the highest/only bidder and will say I got the best deal for the creditors.
If there are no buyers then the company is liquidated.
In this one the assets are being sold and the cash held in the oldco (£11.2m) which will be divided among the creditors when it liquidates. Which will be very little once D&P fees and the floating charge are met.
ST
aye, yes and superb my friend…. O))
a good bhoy is on his way out to your area..macjay gave him info but he was asking for you
tims in ohio previously tims in yyz..
Brogan
look out for WDH re Barca
Laird of the Smiles aka PMTYH on 4 May, 2012 at 20:15 said
Dolph and Lenny ( see how well I know them ) do pop in there quite often. I was in a decent place about 50 yards north of there a few weeks ago, cannot remember the name , beer was good and decent looking serving wenches as well.
If that floats your boat and is not too 1970`s.
SFTB
Re. our last conversation.
Our girls beat Russia and Serbia. Next final game we play against Germany.
I hope you will see them in London.
BT
I thought you were going over to Barca?
wonkyradar on 4 May, 2012 at 20:25 said:
You must have a heart of stone or a swinging brick mate. Mark Wilson is one of us, a Bhoy who had the opportunity to fulfill the dream that we all had, and some who should know better still have :-) he got to wear the Hoops, he got to play in Paradise and he got to score the winner against the huns.
Last night we got the chance to thank him for his committment and he got the last hurrah that he deserved, that’s what Celtic is all about.
Lustig will get his chance.
SOAL
not as much free cash as you have mate o))
BT
There are only two kinds of folks in the world really.
There are Celtic fans and there are folk who just don’t realise that they should be Celtic fans.
Just say hello next time…. honestly I will talk to anyone… except maybe Blantyre Kev…. BJ Mac….
Laird of the Smiles
Cheers
Well said hamiltontim.
Guys
Been here 5 minutes, asked for help and now have a plan
Arrive Grosvenor lunchtime
Chuck bags
Pint of Guinness in Hotel,,Shiraz for the wife
Lunch,no 16 Byres Road, something fishy, so bottle of Dry White
Wife into Glasgow on the subway
Jinty McGintys – 2 pints Guinness
Dolphin – 2 pints of Guinness
Smell meatballs – Papperinos here I come
Wife returns, take 25 shopping bags to hotel. Theyll be going back tomorrow anyway
Pre dinner drink – Guinness and a Shiraz
Pre theater meal ( we are not going to theatre, but dont tell them)
Visit Oran Mor – Have a wee look, dont like, but the guinness and shiraz were fine
Cail Bruich – Medium to well fillet expertly cooked, good chips, Guinness even better. A wee irish coffee obviously
Tennents – Guinness, Shiraz, Vodka ” Hi Pinta” says a wee irish guy, sure I know him but seeing double at the moment
Chip shop – Nae salt and sauce! Abandon
Hotel – Night cap – Anything will do, now wheres that room, is it 16 or 91?
Crash – Have had worse days
Brogan
thats probably why blantyrekev was talking to me… p))
BT
It has all been done in for the bhoys communion.
Since the hoops got beat with Hearts it means the Wishy Fat Bhoys will be attending.
deekbhoy on 4 May, 2012 at 20:26 said:
Fair point Sir, but would selling the assets of a football club, say, like the stadium, keep the business going – or would you need a Liquidator to perform that function.
HH
Soal
take it the blantyre fat bhoys won’t be then..? o))
last year was a larkhall communion and I was more than happy to attend…
pintaguinness
you forgot the beach
pintaguinness on 4 May, 2012 at 20:39 said:
You’ll return home a 30 stone alcoholic but it’ll have been worth it!!
Hamiltontim
Already am :)
Setting free the bears:
Looking atv those figures shows you how discriminatory people were in the past when it came to games…also how much fraud was committed by the old family dynasty’s.
Hamilton:
Mark has done well at Celtic. He has had plenty of time in the sun. Just thought we should look to the future…but maybe your right: I probably sound a tad harsh.
Pintaguinness
If your feeling adventurous
jump the underground at Hillhead into the town
and get a 267 bus to Rutherglen Main St. for a beer
in the Vogue Bar.
BT
No you shouldn’t talk to Blantyre Kev– bad for you all round.
Unless it is about how you keep your Golf handicap in the high twenties.
He took possession of a 4 ft Ice Cream Cone last week…… Stupid Boy!!
BT
You are more than welcome and you will look a lot leaner than WG and Nafos.
tgcw
Will probably be over tomorrow at some point. Delighted about your great news mate.
Gordon
I’d need a kerry oot for the journey
Sometimes yeez are worse than the wife…
back later when yer speakin ;)
The liquidator v the incubator?
Who will win?
Cheers mate!!!Must admit to having a wee sniffle and some allergy problems when she told me,well that’s the excuse I gave anyway.
jmccormick on 4 May, 2012 at 20:35 said:
Nothing wrong with the 70’s mate. My sister got married in the 70’s and her wedding photographs are the funniest I’ve seen regarding time-lines. All the guys (including me) seem to be having a competition for the biggest tie knot. Yes, kipper ties, massive tie knots, butterfly collars, platform shoes, Mungo Jerry sideburns, and that includes the women, flared trousers. There will never be another period ever where the human race all looked the same.
Zbyszek
Impressive form. They are ranked much lower than both those teams. Brazil are odds on favourites but USA, Russia & Serbia are less than 10 to 1, Italy are 14s, Japan 20s, Cuba 25s and China at 33s before you reach Poland at 40 to 1.
In the Mens event, they make Poland 4th favourites behind Brazil, Russia and USA.
Laird of the Smiles aka PMTYH on 4 May, 2012 at 20:33 said:
Good call on the restaurant, but can be pricey. Jusr round from there is Placa Real with a few good ,cheaper places, just my opinion. I atE there 3 times last year, out of season and had decent grub every time. Also head into Barceloneta for great seafood places at non Ramblas prices.
Avoid eating on Las Rambas in my experience.
Brogan
a 4ft ice cream was bigger than him…
thank god/joda I ain’t going to golf outing this year.. o)
HT
we have started to arrange next weeks night oot..
Auld Neil Lennon heid on 4 May, 2012 at 20:20 said:
Sorry for delay AH, just catching up…
I got it from Facebook earlier so don’t know it’s source at the moment. Was hoping someone like yourself could make use of it so posted over here, but I will ask the guy who put it on FB.
I did try a Google search from an extract which threw up a Scotsman article
http://www.scotsman.com/sport/football/spl/rangers-takeover-rangers-squad-could-move-straight-to-newco-1-2273459
Hail Hail
Gordon 64
Ahhhh the Vogue Bar Rutherglen……..
Now there was a past life… long before all day openings on a Sunday.
Hiding in the back bar with the staff away from wee Noel, jumping out the back door before he came back in, heading round the front and coming back in when he opened up as if you had just happened by… again…
Fond memories of afternoons in and nights out in the Vogue.
Pintaguinness
VP and myself do the journey regularly
and on a Saturday afternoon
it’s a must to pop into The Shipbank.
The best singalong in town.
Could all those wishing to leave use this door!!
http://www.youtube.com/watch?v=yfo7xRziOmM&feature=related