Football debts and non-football debts are often dealt with differently by club administrators. Un-secured creditors generally have to wait in line but a football club has a different mechanism to regain lost income.
Rangers FC PLC (in administration), as the excellent Paul McConville informed us the club should legally now be referred to, owe money to Dundee United for the recent Scottish Cup game, Hearts for the transfer of Lee Wallace and Dunfermline for tickets for last Saturday’s league game. All three clubs have recourse to the SPL and SFA if the administrator hangs them out to dry, but they will not be the most pressing concerns for Rangers FC PLC (in administration).
Inverness Caledonian Thistle are due money for tickets provided to Rangers FC PLC (in administration) for their match at Inverness later this month. Rangers FC PLC (in administration) have sold tickets for this match and will, presumably, continue to do so, however, the administrator will have to decide on a course of action:
Pay Inverness or withhold the money for other purposes and ask the club to admit their fans without payment.
In this instance, other purposes would be: payment of their administration fees, payment of other creditors, payment of footballers to face Inverness.
How Rangers FC PLC (in administration) deal with Inverness will be an early concern, but our old friends Rapid Vienna, who are due the final payment of the Nikica Jelavic transfer, will complicate matters further down the line. Their recourse will be to Fifa, who ensure transfer fees are paid, without reference to administration or even a prepack liquidation.
The concerns Celtic Quick News first raised in October about a prepack fait accompli being offered to the SPL now feels less threatening.
One final push (this week) for the Vanessa Riddle Appeal. We have a Celtic top signed by the first team squad available to auction on eBay. You can bid on the auction and help send Vanessa for the treatment she needs by clicking here. Thanks to Penfold for the donation and to Taggsybhoy for organising (yet again).
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CultsBhoy – Professor Tom Devine had it right.
Unlike, say, the delightful anachronistic antics of The Broons, or the unfunny capering of so-disant comedian and hun “Limmy”, Rangers are not an institution that unites Scotland.
They are, as their prescient former director Hugh Adam noted, widely disliked in Scotland, and not just by Celtic fans.
The Scottish media can mewl all they want about how Rangers are Too Big To Fail. Most people aren’t buying it.
Imagine a future where clubs like Aberdeen, Motherwell, Hearts, Hibs, Dundee United, and Kilmarnock can realistically aim to win second place, European qualification, and eventually challenge for the title outright. A lot of football chairmen will be imagining that future today.
Special Pleading FC are finished. It’s all done bar the aggressive begging. (thumbsup)
Let them rot..
Was trying to get onto Radio Clydes ‘The Word’ competition this morning.
Not to win it just to say
“Your always scared of sounding a bit JELLY and a bit ICE-CREAM.”
Sounds like a task for all RGT’s.
If someone can I’ll donate £50 to the Vanessa appeal.
MWD
whoosh
nae podium!
Chemical Sally says don’t panic
Redundancy started at Ibrox already, 2 referees and 4 linesmen sacked today more to follow as Rangers try to cut the wage bill….
southbhoy says:
15 February, 2012 at 13:07
Must mean the pies have arrived..
greenjedi-We should also pursue the European licence,but that’s maybe a different card to play at a different time.HH
Great new book out on “HOW TO AVOID PAYING TAX”
Highly recommended by CW
http://i.imgur.com/y3ip4.jpg
For newbies to view……….
Right click the link and choose “open in new tab”
To save the photo…………
Right click on the photo and “save to Desktop”
or copy the address bar & post it on.
Craig Whyte spotted, keeping a firm grip on Rangers’ last assets:
http://images.wikia.com/iceage/images/3/39/65.jpg (thumbsup)
Fire at will
Sorry for the re-post Paul67 but it took a long time to collect this stuff!!
These are posts from various Fan Forums showing clearly that there is little support for an automatic SPL place for NewCo
From Motherwell FC Forum:
re: Rangers liquidation? MFC-SPL-SFA-UEFA reaction.
Administration is 10 points minimum.
Liquidation is the follow on if you can’t trade your way out.
Do you want to pay money to see a league that is fixed, where a team can get away with anything and the rest of the clubs are too scared to impose the penalties that are laid down in the laws of the governing body?
I don’t.
Motherwell, do the right thing
re: Rangers liquidation? MFC-SPL-SFA-UEFA reaction.
To be frank, I couldn’t give a flying fig what happens to the Gers. Only plus point could be we see another 5000 fans at our home games cos their buses from Wishaw,Carluke, Bellshill, Hamilton, etc will not be going Govan way !!
From Fat Pete @Aberdeen Mad Posted 14 Feb 2012 09:41
An Open Letter to All SPL Chairmen and Directors
An open letter to chairmen and directors of SPL clubs
Following the announcement that Glasgow Rangers are now petitioning for administration, the possibility of their going into liquidation must also now be considered.
As the current custodians of Aberdeen FC, all supporters trust that you are now formulating contingency plans should this eventuality arise. It is hoped that you will actively support the following measures in the event of the current Rangers football club entering liquidation.
1.The current voting system for matters debated by the SPL member clubs requires an 11-1 majority to vote for change. This is undemocratic, and must be changed to a fairer majority vote. An 8-4 majority is suggested.
2.All funding of the SPL from external sources, (eg – television rights, sponsorship of the league) to be divided evenly between the 12 SPL clubs. A small portion, not exceeding 20% may be set aside for place money, again this should be divided by a reasonably fair means, and not bay the current scheme whereby the clubs finishing in the top two places receive 33% of the prize fund.
3.If a “phoenix club” is created as a form of continuation of Glasgow Rangers, then this new club must first seek election to the SFA and SFL. This new club MUST NOT be given a “free pass” straight back into the SPL.
Should Rangers cease to exist in their current form, the opportunity exists to change Scottish football, to the benefit of our club, and to the benefit of Scottish football as a whole.
With a fairer distribution of income, Scottish football will demonstrate a more level playing field. Many more clubs will have the chance to challenge for trophies, providing a more competitive league. This in turn should lead to more attractive football, which would encourage more supporters to attend, and, hopefully attract further investment.
The opportunity may soon exist to change Scottish football for the better. Supporters of all clubs beseech you to act for the benefit of their own club, and Scottish football as a whole.
You are trusted to act positively and without delay. Do not let us down.
alanrey 25j Dundee FC Online
________________________________________
I would be laughing if i was allowed, last season nearly every rangers fan i spoke to went on at great length about why we had got what we deserved, spending money we didn’t have, cheating etc, pot and kettle springs to mind now and feel that is worth a wry chuckle or two.
quote:
________________________________________
Originally posted by dpmcalister
Whilst I’m not laughing at Rangers, I have no sympathy for them – much like there was very little sympathy for us.
This may not get past the moderator but I think this may actually have a positive effect on Scottish football as at least one of the Old Firm will no longer be able to buy the best players from around Scotland rivals just to warm the bench and weaken other teams.
________________________________________
From McVey @hibs.net:
How to stop the inevitable?
I wanted to start a thread that was about the Rangers situation, though specifically from a Hibs/other SPL clubs perspective…so here its is:
The general concern for all of us is: Rangers will start again in the SPL with no debt.
The general feeling is: this is a massive injustice to the other ‘well run clubs’ who have endured years of cost cutting just to survive.
Given the above we must not only sit on forums complaining (a great pass time in its self, I grant you), there must be a call to action. However this is something I have little or no experience in, so I wanted to use this thread to pull our resources.
As a starter for 10, here are some questions to ask you my esteemed Hibees:
1. How do we ensure that the Hibs board are absolutely clear on our feelings/concerns?
2. How do we ensure that the Hibs board don’t let the supposed inevitable happen?
3. How do we get other SPL (and SFL) clubs to start the same process at their own clubs?
From Spike Mandela @hibs.net:
Really it comes down to the stance that Celtic would take on this. If Celtic join with the other 10 clubs to make life difficult for Rangers then they have some leverage. The problem With this may be some other clubs sailing close to administration may be reluctant to set a dangerous precedant.
IMO when Rangers do the inevitable many people will wash their hands of Scottish football. Myself included.
From DAFC.net:
Topic Originator: east end swift
Date: Tue 14 Feb 21:33
Okay, it seems even if Rangers are liquidated in the weeks to come, they would expect to form a new club and walk straight back in to the SPL.
We even had Killie chairman Michael Johnston in the papers last week saying how much SPL needs Rangers.
http://www.dailyrecord.co.uk/football/spl/2012/02/10/healthy-old-firm-vital-to-spl-future-says-kilmarnock-chief-michael-johnston-86908-23742715/
Presumably, it would come down to a vote of the 11 club chairmen to decide if its open doors for Rangers. So what will Yorkston do? The pros and cons for Pars? And how could fans lobby the Pars board?
My opinion is that if a reformed Rangers of Glasgow swan straight into the SPL, we’d all as well packing up and going home.
From The Number 1 Unofficial St Mirren Supporters Website:
civilsaint
The r*ngers situation is going to shape Scottish football for decades to come and those involved at r*ngers can now do very little to influence the outcome. However, OUR club is VERY likely to play a significant part in how things turn out (along with the other 10 SPL members). For that reason it is good to know the facts in order to come to an educated conclusion. I have said previously, our club MUST not take the easy decision (the one that the media are already pushing) and parachute a New r*ngers into the SPL. If they do, they won’t get any more of my money.
There’s more to the football business than just turning up on matchday.
Re-post from last night as I feel quite strongly about this one:
There is a growing consensus out there that Rangers are going down the Leeds United route towards a phoenix club. Having had Celtic reject the notion we “need” Rangers, having lost, utterly, the moral argument (which they never wanted to have), having failed to successfully argue that Parma went down this road (they did not), the new tactic is to mention Leeds.
This is a scam. This is part of the same scam, which is to pretend what Rangers are attempting to do has precedent. Let me be blunt. It has none. What Rangers would be doing has NO prescedent in the modern game, anywhere.
Leeds United Football Club, contrary to what you have read, was NEVER liquidated. I have researched this, and satisfied myself as to the full facts. Leeds United, as a football club, has an unbroken line … the club itself never died. The ownership of the club was transfered, and this was done via a pre-pack after a CVA which was FORCED on the creditors by the THREAT of liquidation.
Read again what I have just said. Leeds United Football Club was NEVER liquidated, at any time. IT DID NOT HAPPEN.
This is the latest line of reasoning by a media running out of ideas. It is a lie, pure and simple, being spun by PR hacks briefing all and sundry to implant the idea that what Rangers are attempting has been done before in the UK.
IT HAS NEVER BEEN DONE. NOT ANYWHERE.
Do not allow this lie to go unchallenged. Do not let them get away with it.
Research the facts. Spread the word.
More great stuff Paul.
Keep up the pressure.
The Battered Bunnet ———— previous thread.
Lorenzo would have had more than 2 contracts.
Italians have tax avoidance in their DNA
” Only stupid people pay tax ”
Silvio Berlusconi
Fergus Muirhead – Money Expert on BBC Shortbread later!
The Irony!
South Of Tunis – Italians have tax avoidance in their DNA
Also, mad driving skills. (thumbsup)
Paul67,
Any idea as to the likelihood of the Rangers FC PLC (In Administration) paying Inverness??
Assuming they don’t, what recourse do Inverness have apart from joining an expanding list of creditors?
Especially if, as you mention, all the administrator is doing is using Inverness’ money to pay the players who will line up against ICT.
Will the ICT fans then be singing No Huns in Inverness?
HAIL! HAIL!
Token
Just been looking at pictures of Criag Whyte from last night at the airport prior to his midnight fleet.
Has anyone else noticed a dramatic improvement in the quality of TGEF’s suits recently?
I suppose now that he is a REAL millionaire he can ditch those horrible old Primark numbers and invest in a swanky Hugo Boss number…
Paul67:
Woosh, what can I say, you have mail.
I wonder if we will get to the 25th March to attend their going away Party?
Keep the Faith!
Hail Hail!
Curse of the new article strikes again.
Am I right in saying that the only way out of an administration is a CVA, and if this fails liquidation is an inevitability?
Technically is it In Receivership Administration, or to use the acronym Rangers FC PLC IRA?
Paul
Very good source at Everton says Rangers £5.5m deal with Everton was £4m to Rangers, £1.5m installments due to Rapid assumed by Everton.
i.e. Rapid no longer looming.
BlantyreKev – Technically, they are known as Rangers FC RIP (thumbsup)
Paul67
I am surprised at you Sir, you are having far, far far too much fun.Hehee
Mtt
Ps does sarcasm come over well on the blog?
James Forrest is The Emperor of Ice Cream says:
15 February, 2012 at 13:15
On unrelated matter, do you think that the Scottish Gvernment might be thinking why did we waste all that time and money on offensive behaviour bill. They may not even survive long enough for it to be used on them?
Keep the Faith!
Hail Hail!
Why is this guy not under house arrest,with his passport handed to the polis?
Paul 67:
That Christmas Wishlist we “chatted” about is really going to come true isn’t it?! :-)
hoopeddreams says:
15 February, 2012 at 13:20
There is a third way out: pay the creditors in full. I think that is unlikely to happen in the case of Rangers FC PLC (in administration).
Provisional liquidators called in to Scottish First Division strugglers Airdrie have expressed hope that the club can be saved.
They have voiced confidence that a backroom shake-up would allow new investment to come into the club.
The Diamonds have called an extraordinary general meeting to discuss a change of constitution which could ensure its survival.
Up until now, no Airdrie shareholder has been allowed to own more than 10% of the shares – a matter which has been scheduled for discussion at Monday’s meeting.
Liquidator Blair Nimmo:
Blair Nimmo, head of KPMG Corporate Recovery in Scotland, has been appointed as the club’s provisional liquidator and expressed optimism for the future.
He said: “While the liquidation is a serious matter for the club, I would like to stress our focus will be on creating a firm foundation for the future development of Airdrie FC.
“The club has first class facilities and is an important institution within Scottish football – it just needs new investment.
“Hopefully a new constitution will be the catalyst which enables the introduction of new investors with the funds, and the ideas, to take the club forward.”
‘Business as usual’
In the meantime, Mr Nimmo said it would be “business as usual” at the Lanarkshire club, currently lying at second bottom in the First Division.
Airdrie’s problems worsened when it was revealed that Rangers had arrested the club’s share of the gate receipts for Sunday’s Scottish Cup tie at Dundee United.
Airdrie’s finances have been tackled by David Murray
Ibrox chairman David Murray applied for an interdict, on behalf of his company Carnegie, for a debt of around £30,000 owed by Airdrie.
Mr Murray said: “I feel very sorry for Airdrie and their supporters but we’re running a business. We have given them repeated warnings and felt they were playing on our good nature.”
The Scottish Football Association described the move as “a private matter between the clubs” and made clear there had been no contact with either party.
Airdrie were at the centre of recent takeover speculation amid reports that Motherwell chairman John Boyle wanted to acquire the Diamonds and create a bigger Lanarkshire club.
Paul,
it has to be said that their reputation in Scotland wasn’t what they thought it was. They thought themselves to be the champions of the Scottish clubs against Celtic. From what I have seen so far the other clubs and fans are about to show them just how wrong they were.
After all this was the team that tried to hold HMRC to ransom, the team that did not care one jot about other teams finances and how they were going to survive without the money they were/are due.
It astounds me that at the same time they are pleading with everyone to let them back in because we ‘need’ them.
One line should be remembered, if it wasn’t for rangers no one would worrying about no getting their money
Pantaloon DUck
Much obliged.
Lennybhoy:
Hehe. Yes, I think some of them may be crying into their expensive coffee today.
I love the comments from Ayrshire’s Finest MP today in particular. He is hurting bad. It really does tell you something not just about the state of Rangers and Scottish society, but about politics in this fair land, when an elected official can walk about spouting nonsense about the tax collection agency of the national government having reacted wrongly because they want what they are due. His total ignorance – indeed, the total ignorance of ALL our elected officials who have, so far, blundered feet first into this area – as to the NATURE of what Rangers has done makes him either too stupid to hold office or an un-certified (as yet) lunatic who shouldn’t even be walking the streets.
Pantaloon Duck – When you join in a game of football, is it fowl play? (thumbsup)
Philvis
now that´s a podium post
Is Mise Neil Lennon says:
15 February, 2012 at 13:14
GREAT POST !!! A MUST READ
HAil HAil
philvisreturns says:
15 February, 2012 at 13:28
Not if I’m playing on the wing.
Im getting a wee bit worried has anyone seen or heard from Christine Gilmour MSP in the last couple of days?