Apparently, time for Rangers fans to step forward to save their club has passed. For the want of £500k any one or collection of them could have bought an exclusive period as preferred bidder and worked on a rescue but no one stepped forward.
It is perhaps worthwhile reflecting on our hour of need 18 years ago. Celtic had exceeded their agreed overdraft limit and the Bank of Scotland informed the club that unless the account was brought back into agreed limits that day, it would go to court to appoint an administrator.
Back then there were no transfer windows, so players could, and would, have been sold by the administrator the next day. Celtic would have been left with an unwanted shell of a squad.
Word of the impending doom spread around the Celtic business community and John Keane decided to act. He withdrew £1m from his account and paid it straight into Celtic’s account at the Bank of Scotland.
John did this in the hope that he could buy time for the Celtic Movement to pull a rescue together. The bank could still have withdrawn the overdraft the same day, which would have made him an unsecured creditor with no chance of a return. There was also no agreement signed to secure the transfer of the club from the old board, each member of whom would later be dealt with on an individual basis, as shares were sold, or in the case of Kevin Kelly, pledged behind Fergus McCann’s consortium.
John kept his money in Celtic and received a seat on the new board, which he retains. He declined to appear in the publicity photos on the steps of Celtic Park when the club was rescued and although he attends the AGM every year, he remains a quiet and largely unknown figure. He has since invested more in Celtic, money he will never see back, but which has ensured his family can block a Glazier-style takeover of Celtic.
I have spoken to him once or twice, although he doesn’t know who I am, but I have often thought he deserves a standing ovation at the AGM for what he did all those years ago. Maybe this year.
We can only wonder why there was not a John Keane across the city.
Very well done to the Daily Record for their excellent story about CQN’er Tony Conway today. Tony, who now lives in the United States, suffers from motor neuron disease and made the trip back to Celtic Park last year with his Dad, John, and brother, Martin. They spent time with Jinky’s son James and met a host of people at the club, including Neil Lennon and Billy McNeill.
Read it, it’s a great story.
Remember to keep an eye on the signed Celtic shirt being auctioned for Wellburn Care Home, it ends Monday.
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Watching the game again.
Just got to half time, honestly Chico Muldini is walking off that park The Best Player.
Even though he will win awards the next few weeks he deserves more that that.
The Man is A freekin Legend.
Chico Muldini.
Thanks.
One year after his retirement as footballer, a testimonial match was held on 7 June 1967 and played for a trophy which named after himself. The Alfredo Di Stéfano Trophy or Alfredo Di Stéfano Cup was won by Celtic of Scotland. The trophy was contested in a match between Real Madrid and Celtic at Real’s Santiago Bernabéu Stadium in Madrid. The match took place 2 weeks after Celtic’s victory in the European Cup 1967. Celtic won the match 0–1, with Bobby Lennox scoring in the victory and Jimmy Johnstone stealing the show.
At one stage the whole stadium began to shout “Olé!” when Johnstone dribbled and dodged of their own team’s players, at the full time the whole stadium applauded him.
The match was also seen as the battle to determine the true champions of Europe because Real Madrid had won European Cup in the previous year as the most successful club with six wins in total.
San Diego Bhoy
A bit late getting on tonight.
I am booked for SF alright.
Into one of the Holiday Inns, and arriving on Monday late.
On the boat on Friday night and taking a couple trips that are orgainzed.
Mrs RWE is coming woth me.
Hope you are enrolled and will be there.
Catch up another night if you’re not on now.
Hector-MurdochAuldandHay
Thanks, The family are every happy with it, and Tony is currently in training for a service dog, a la guide dog for the blind.
It did take a while, but then someone at Ibrokes stopped paying their bills. Don’t remember much after that, :0)
HH
Watching the game again.
See that ‘Come on ye bhoys in Green’
‘Glasgow’s Green and White’
Ive only been to two European away games and San Siro was the only one that came close to that kind of noise/atmosphere but that was all planned one side kind of thing.
Its unique, and note Celtic supporters didnt do it at Hampden the last two games there, didnt win, just saying…
We’ll played Samaras and Commons for Hooper’s goal there.
Estadio Nacional on 3 May, 2012 at 04:03 said:
Watching the game again.
…………………………………………………………………………………….
My mouth’s watering reading all you’re post’s about
“Watching the game again” stuff!
Is there any chance you could provide a link for the game ?
Thanks in advance.
God Bless
Hail Hail
Get Paddy McCourt Oooot.
From Paul Mc’s blog.
Gloomy Predictions for the Rangers Endgame – Guest Post by Tony D
Tony D was good enough to make a lengthy comment predicting the finish to the Rangers saga on the blog earlier. I thought it worthy of a billing of its own. Here it is, for your delectation. It is fair to say that, especially in light of Mr Doncaster’s words on Monday, Tony is not happy, and with good cause I feel.
Thanks Tony for the detailed comment.
———————————————-
Regrettably, what will happen in my opinion is this…
1) rangers 1872 will form a new company say rangers 2012 (‘incubator’)and transfer its SPL share (each club has 1 share in the SPL)
2) Duff and Phelps as administrators will sell the ‘Goodwill’ or ‘intellectual property’ of the old club to the new club, probably for a nominal sum. That includes its History of trophy’s leagues etc.
3) The old company will try and exit administration via a CVA (Company Voluntary Agreement) by way of offering its creditors a ‘pennies in the pound’ deal.
4) HMRC will NOT settle for 10-15p/£ they will press for upwards of 50p.
5) If the big tax case goes against rangers HMRC (and Ticketus who are owed £27 Million ) will BLOCK a cva. Result of that will ensure rfc 1872 is liquidated.
6) Rfc 2012 will continue in the SPL as if nothing happened, with minimal sanctions as there is no sanctions available under the current articles of association. The spineless directors who adjourned Monday’s meeting will reconvene next week and pass new rules for clubs getting in a mess in the ‘future’. This against a backdrop of intimidation and fear not to mention nepotism.
7) Rfc 2012 will offer shares to the mass of orcs and buy large!….result will be that they’re still up there competing against Celtic. Meanwhile Dunfermline who have been financially prudent all season (closing stands to save money) will be relegated…hence the uproar about footballing integrity, both moral and sporting.
8) Whyte who has a floating charge over ALL assets as it was assigned to him from Lloyds TSB when he settled the overdraft using Ticketus money. He will either sell to rfc 2012 over a period for many millions or transfer the assets and remain a major shareholder in the new company. Once on their feet he can sell his shareholding…assets restored, whyte walks with Millions…win win.
9) Ticketus may try and block deal, but Lord Hodge has observed that they are a normal creditor and should be treated as such. An observation NOT a ruling as he had insufficient time and information to make a proper judgement. Ticketus will pursue Whyte separately (which will take years)
10) SFA meanwhile will uphold partial sanctions (maybe 6 m ban on transfers suspended to see if they pay the outstanding money on players at present) and the semi-derisory fine of £160,000 will be halved.
11) UEFA will ban rfc 2012 from Europe for 1 (maybe 3) years.
12) SPL will rule that rfc 1872 broke the rules using EBT’s and may or may not strip them of trophies. It won’t matter as rfc 1872 is in liquidation.
13) Domestic and European clubs who were damaged with their cheating will desist from pursuing rfc 1872 for damages as they are in liquidation
Summary
1) The rangers fans will claim a seamless history despite rfc 2012 having a new company number. (You can change names to the cows come home but it is the number which is important. Celtic FC have had the name number registered at companies house since 1887).
2) The creditors will be stiffed big style including HMRC and Ticketus.
3) Business as usual for SPL
4) Business as usual for SFA
5) Duff and Phelps will be lauded as geniuses and can take their seats at Ibrox whenever they want…despite the Police warning them that it was unsafe at a recent league match….our old friend Intimidation again!
6) UEFA may make some noises under financial fair play rules (STILL TO BE INTRODUCED)but will let domestic association deal with it all.
7) Due to intimidation, threats, aggressive posturing rfc have essentially got their way….the authorities have capitulated.
8) David Murray absolved…indeed not even questioned.
9) Whyte seen to be playing ball will be left alone as his actions will have been vindicated…semi heroic status conferred.
10) The establishment club saved.
11) Bigger than usual party in Stirling on July 7th 2012……a real ‘we arra peepil celebration’….confirmed by the actions of all involved.
I personally, will not so much as watch another football match in Scotland let alone spend money to go and see one. There will be many like me…for a short while, then normal service will be resumed.
Written by Tony D
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Estadio Nacional on 3 May, 2012 at 04:49 said:
..the door?
BABASONICOS71 on 2 May, 2012 at 23:47 said:
Here it is;
https://www.youtube.com/watch?v=MErYm2qmJMM&feature=youtube_gdata_player
Totally uplifting.If you’re not moved by these wee dudes you’ve not got a soul.
…………………………………………………………………………………………………..
Absolutely Superb m8!
Can you imagine those wee dudes
in beside the GB ?
Fireworks – CSC :)))
Hail Hail
tomthelennytim on 3 May, 2012 at 04:51 said:
If this is true its the end of Scottish football. No integrity or shame whatsoever. Total absolution of £134 million + £75 million debts!! Whats the point? Its not football. Its not sport. Its not even politics or religion. Its a totally corrupt sham coz to many minions want their salaries. I wont be participating. Your welcome to it.
to=too
Estadio Nacional on 3 May, 2012 at 04:49 said:
Get Paddy McCourt Oooot.
………………………………………………………………………….
I agree m8!
If he was to make it, he would have done it by now imo!
Came on on saturday and, within seconds….he had given the ball away!
He has class but, sadly not at the level for us.
Margaret McGill 04:51
Hoi you. Nope he would be first name on my team sheat playing in the middle like a Number 10/25 and we would be laughing.
But if he is going (and good sources tell me he is) he deserves a go at Premiera Liga or the EPL but for me my favourite rumour is him moving to Qatar, Im moving there on Saturday and if he moves there it would make it worth while. Qatar would be a waste of his talents other then me enjoying it, Id love to see him showing up the EPL with his majic and hope for his sake he goes there, Im told theres 8 teams in for him so far, with more expected once news gets about. I guess its money v career, I love the fella and wish he played every week but Id cry with happiness if he went to Qatar.
How You doing? Hope all is well.
EN
tomthelennytim on 3 May, 2012 at 04:51 said:
…………………………………………………………………..
Well documented stuff m8.
Well done.
The way i see it is that……as Margaret says, and has been saying for years…Scottish Football is a hun-corruption racket!
I don’t even think UEFA will get involved as, I assume that they will be aware of the public disorder issue especially with, Manchester still fresh in the mind.
For what its worth…I think the huns are creating anarchy in the game here. Bare-Faced Anarchy so that they will become, un-governable.
McCoist should be thrown out the game for his antics last week.
I have siad often enough on here, to cut a long story short….
“Scotland IS the huns, the huns ARE Scotland!”
Simples.
Hail Hail
siad=said
typo :)))
Estadio Nacional on 3 May, 2012 at 05:03 said:
I saw him play great against the Faroes once. Maybe Qatar is for him. Lucky you.
A rather depressing post on the scotslawthoughts blog to start the day.
Hoping for better news before the day is out.
BABASONICOS71
http://www.youtube.com/watch?v=7eYwkkujr5Y
There was a particularly good post recently which listed Rankers fan’s exploits on their travels in the past 50 years or so. Can anyone repost it for me please.
I am also looking for an article or posting on rankers crimes over the last 20 yrs or so, one which is more factual and not opinion slanted. Anyone?
For clarity people I have just c&p’d that post from Paul Mc’s blog.
Maggie, I think it’s a personal thing. For me the game would be finished in Scotland. A team has been proven to be guilty of cheating all other teams over a number of years yet the football authorities deuced to support that club for financial/brotherly gain. You would have to ask yourself “what’s the point” when coming to renew your season ticket. Sport is supposed to be noble, no?
However, people love the game and over time gates probably would recover. The SPL policy wonks must have done the projections.
I reckon even I might buy the occasional ticket when visiting family in Scotland but the bond would have been broken.
Integrity eh?
Deuced = decided…………..but then again…………
tomcourtney on 3 May, 2012 at 06:10 said:
maybe this one?
http://132yearsofunsurpasseddignity.blogspot.com/
Good morning CQN from a misty Clydebank
Hope you are all well
Off down to vote this morning
Hail Hail
Good morning friends from a grey and heavy cloud (but no rain) covered East Kilbride.
stingCSC
Margaret McGill on 3 May, 2012 at 06:22 said:
http://132yearsofunsurpasseddignity.blogspot.com/
…………………………………………………………..
Every day is a school day when you’re around :)))
God Bless
Hail Hail
Son Of Warsaw 22:24 page 214 –
Thanks for posting that link and giving me a fantastic start to Thai Tims Thursday! More than just a club, indeed. Have a great day everyone and get along early tonight.
Good morning, Tim Land.
Keep the Faith!
Hail Hail!
Good morning fellow Celts from dry grey Ealing
Hoping to see some of the young bhoys featuring tonight. No better opportunity to get the feel for winning at home. Job to be done and they need to learn how to handle it.
Not as late subs if we are cruising but from the first whistle. Feel the burden if responsibility and expectation of the big home crowd.
No amount of coaching or money can replicate that experience.
C’mon the younger hoops. It’s time!
HH
M
Grandson Grandad who were Rangers….did they really not like Catholics very much?
Grandad It was all a long time ago and I remember them very well, nothing for you to worry about now go to sleep or I’ll tell you the Terry Hurlock story again
Grandson noooo not that one I’m sleeping (clinches eyes)
Grandad nite nite my precious bhoy
A glimpse of the future bhoys
HH
M
Looking forward to game tonight.
Mind and take your seats by 7 ghuys n ghals or miss the Thai Tims serenade.
Saw that post from RTC.
One day your up and the next your down.
Thing is. Nobody on any blog really has a clue how this is gonna pan out.
Me. Im just gonna let it pan out now. No more daily (or even half daily) wailing or nawing for me.
I’m just gonna let it pan out.
MWD still watching PLC expecting action if required.
BABASONICOS71 on 3 May, 2012 at 01:00 said:
Giant Steps!! One of my all time favourite albums.. A classic..
Margaret McGill on 3 May, 2012 at 06:22 said:
Warning necessary before reading the link, have a counsellor on standby.
The guy who wrote that deserves a whip round to pay for the inevitable ‘Hun Traumatic Stress Disorder’ he must have suffered.
Cheers for the link.
Morning,
Boss Hogg Miller wont send the £500,000 until the bares promise to like him.
rangers in administration the gift that keeps on giving…
tomthelennytim on 3 May, 2012 at 04:51 said:
Tony D’s analysis is in my opinion the establishment’s cunning plan and I’m not sure what if anything we can do to stop it. Celtic’s silence is not encouraging.
Cardiff Bhoy
Thank you, your article ‘Who needs Rangers’ in The Celtic Underground yesterday, it was everything I asked for and more. In any moral society if used in combination with the fans survey in http://splsurvey.co.uk rankers death would be sealed.
The Heralds ‘impartial’ report.
The American trucking tycoon then intends
to merge the two companies. Here, Herald
Sport analyses the feasibility of his plan, and
what it means for Rangers and Scottish
football.
Is this liquidation?
As far as financial experts are concerned, it
is a convoluted route to achieve what is
effectively a liquidation. The only way
around that assessment would be if he
managed to effect a successful CVA for
Rangers Football Club plc and merged it
with the newco before the beginning of next
season – Saturday, August 4. Miller would
then, in theory, not have to apply to the
Scottish Premier League for the newco to
become a member of the league.
Yet the timescales for achieving this are
tight, and if he fails to effect the CVA in time
and applies for his newco to gain entry into
the SPL, there is little to be gained by
merging the oldco further down the line.
Also, Craig Whyte has so far refused to co-
operate with the administrators in making
his shares available to the Blue Knights, so
why would he make them available to Miller
on the other side of a successful CVA? They
would be worthless, since it is the majority
shareholding in a company with no assets.
What about Rangers’ history?
This is an emotive subject, and part of the
motivation for Miller to seek this hybrid
route. To many fans the newco being a
separate legal entity makes it distinct from
the current Rangers’ history. However, this
was not what happened to Leeds United, to
take one example from England, when their
assets were moved to a newco in 2007. As
far as the Football League and Uefa are
concerned, Leeds have an unbroken history.
It is likely that if the SPL agree to transfer
the league share from oldco Rangers to
newco, they will consider the history to have
transferred, too. This has never been an
issue in England, but will be in Scotland,
where rivalry is more fever-pitched. Another
perspective would be this: the club and the
company are close but still separate; as far
as the sporting bodies are concerned any
sanctions apply to the club regardless of the
company that owns it, so the same would
apply to the club’s history.
Why does Miller plan to merge the oldco
with his newco?
Probably for the sake of the fans, who are
worried about his approach. It seems
unlikely that he would effect a CVA in time
anyway, but the newco option also lets him
bypass the Whyte problem, and the assets
could be transferred within two weeks.
Do the players’ contracts transfer over
automatically?
In normal corporate takeovers, contracts
are transferred along with the assets, and
their rights are protected by the Transfer of
Undertakings and Protection of Employment
(TUPE) law, which means the original terms
must be honoured. Yet PFA Scotland
believes in the newco scenario, players are
entitled to decide they don’t want their
registrations transferred and can walk away
for nothing.
Would the SFA sanctions apply to the
newco?
If Miller is named preferred bidder, he will
then meet the SFA and the SPL for formal
negotiations. The penalties will come under
discussion, but the likelihood is that one
condition of being granted a licence by the
SFA will be that all sanctions that apply to
oldco Rangers will apply to the newco. Until
an appeal is heard, this means the embargo
stands, which, in theory, means that the
registrations of any player over the age of
18 might be impossible to transfer.
What about the SPL? Will the newco Rangers
be allowed back into the league, and what
about sanctions?
Even if the SPL’s proposed financial fair play
resolution is voted in on Monday, Miller
plans to establish the newco before the end
of this season. That means any decision
would be considered by the SPL board and
there are no rules in place to govern their
decision. Miller would argue that because
he is trying to effect a CVA with the oldco,
his newco should be spared sanctions, but
this is surely unworkable. What if the oldco
never achieved a CVA, would sanctions be
applied months later? It is more likely the
SPL would agree to newco Rangers being
admitted but seek to impose sanctions.
These would be discussed if Miller is
appointed preferred bidder.
Rangers aren’t eligible for Europe next
season, but what about future seasons under
Miller’s plan?
Even if he gained a CVA for oldco Rangers
then merged it with his newco, Uefa will
consider this a change in the club’s legal
structure. To be eligible, clubs must have
three unbroken years of membership of
their domestic association, so Miller’s
Rangers would not be able to play in Europe
until the beginning of the 2015/2016 season.
Champion Balmy morning in the Chilterns…
Seen The Thoughts on Scots Law piece, excellent piece of work by Tony D.
However a bit pessimistic in my view, don’t get me wrong I believe they’re many folks, alot of them movers and shakers in Scotland, that are working very hard on just such an out come.
As Mr Miller prepares to set down his Hybrid Incubator in the Playing fields of Scotland, it is worth considering an American saying “A day late and a Dollar short”
Well RFCia saviours are at least a year late and at least a hundred million pounds sterling short.
Tony D has highlighted a very key scenario and the fact that custodians of our National game are paving the way for this is a National disgrace, but I don’t think they have the resources to make it happen.
Never mind the beams they are wishing for the moon!
archdeaconsbench on 3 May, 2012 at 07:26 – yep, Giant Steps, nice one, Lazarus and I Wish I Was Skinny, which is maybe one of Super Swally’s favourite numbers these days? Almost Nearly There is a great song of theirs too.
Morning all from gay Paree, meteo du jour: la pluie (18C max).
And so the rollercosater continues: after yesterday’s general optimism that they were to be “saved” by Billy Miller the Proxy Bear, today’s pessimistic predictions on Paul McC’s blog takes us down the big dipper again.
Let’s see today how the SFA deal with the Hun’s appeal against the £160,000 fine and 12-month transfer embargo. That could set the tone for what is to follow.
How disappointing is it to see a team like DUnt capitulate so easily whan they had a serious chance of going for a CL spot? Almost as disappointing as the Haircut that Time Forgot reluctantly taking the CL place from his heroes – but I can live with no Huns in Europe.
;o)
Hope a few of our young talents get some game time this evening. Should be a great event with the Thai Tims adding their own brand of happiness to the occasion.
Big Fraser will be motivated to keep a clean sheet tonight and so break the SPL record if he makes 24 shut-outs (and possibly go on to all-time record of 26 games set in 1914). All the best big man!
Gardez La Foi