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The Great Football Swindle

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On the face of it, it’s just too crazy.  Why would Craig Whyte become a director of Sevco 5088 Ltd, the vehicle his collaborator and Our New Hero, Charles Green, would use to buy the assets of Rangers from the administrators?

What options did he have?

He was, is, and for the foreseeable future, will be… the only show in town.

Whyte had controlling shares in Rangers and a security over Ibrox and other assets, as well as personal guarantees to Ticketus.  If he wanted to realise the value of these assets, and protect himself from the consequences the Ticketus action which materialised this week, he was probably the only man at Ibrox last year you could guarantee would not, walk away.

Either Whyte had to find a 100% secure proxy to carry out his actions or he needed controlling interest in Sevco 5088, and Whyte is not a man who strikes me as having many strong trust bonds out there.

The Companies House form which STV produced (again, credit where it’s due) was always going to be fatal to Whyte’s plans, if produced, but it would have been no more than an insurance policy against Our New Hero going rogue.

The form hitting Companies House is not the moment you become a director in a company, that happens as soon as an offer is made and accepted.  The company is obliged to inform Companies House within a short period (lazy journalism moment, I can’t be bothered looking it up), but failure to do so only incurs a small penalty fine.

Whyte and Earley were controlling directors and, in case Green reneged on their agreement, they would have documentary evidence to prove it.  If Green had performed on demand, they may never have had to produce the document.

A number of possibilities could explain the fact that Green transferred the assets of Sevco 5088 to Sevco Scotland:

He thought that Whyte would be reluctant to incriminate himself further and would simple go away.

He thought he could transform the business and compensate Whyte with the proceeds.

He is simply not smart enough to know how these things operate.

Or he may have a subsequent agreement with Whyte terminating his involvement with Sevco 5088, although this contradicts his evidence to STV cameras earlier this week.

The weeks ahead are likely to be so busy it will be hard to retain focus on the critical path.  Green has known for some days that he would have to go and replace himself with someone he can sell as a ‘true Rangers man’ to the most gullible people to walk on hind legs before season ticket renewal time, but even that date will seem a long way off.

Whyte will not budge until and unless his money is covered.  We’re talking £18m to Ticketus and no doubt some more for his trouble.  In playing the Sevco 5088 director registration form, his Doomsday Card, he has invalidated Newco’s associate membership of the SFA.  He has called into question the fair and open disposal of assets by Duff and Phelps and the entire administration process.  He even stayed quiet until Green flushed out a fair amount of supporter cash.

Some of the least trustworthy looking people in history, assisted by a supporting cast who were willing to bat away all concerns and warnings for a crumb or two from their table, have trashed every last inch of what we used to know as Rangers Football Club. This was not the act of Green, Whyte and Sir David Murray alone, many authors wrote this story.

On any measure of humanity, the monkeys, the organ grinders, the cheerleaders and their flunkies screwed the Rangers fan in the street to a ridiculous degree.

The next actions are for the stock market and some technically minded police officers as they try to figure out the Great Football Swindle.

At this side of the city we’ve been warning about exactly this link since Green told everyone Craig Whyte was happy to walk away for £2.  It was astonishingly stupid for anyone to believe that.  Really, really, really stupid.  The most stupid thing a whole bunch of stupid people has ever done.

Ever.

Just stupid.
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  1. Tim Malone Will Tell on

    So what league are Third Rangers starting in? – and where are they playing?

  2. prestonpans bhoys on

    in the middle of the bloody quiz……….

     

     

    The Boy Jinky your right the only one for that one

  3. prestonpans bhoys on

    q7 How many goals did Jimmy McGrory score in a game for Celtic against Dunfermline in 1928?

     

    will cut it down to one more due to time

  4. Off topic now however…

     

     

    18th May 1985 – One of the best days of my childhood

     

     

    I was 8 years old and it was my First Holy Communion Day. There was Mass then a wee get together back at the house, all the family and friends were there. Then my dad produces three tickets for the Cup Final. My mum didn’t know anything about it until then. We left everyone else in the house and walked to Hampden, me, my dad and a mate of mine, Barry Stirling. Even now, I can remember the crowd felt like 100,000 rather than 60,000. I remember being deflated as we went behind then of course the sheer elation as the equaliser then the winner hit the back of the net. A fine day courtesy a man that I don’t spend enough time with now. I’ll always be indebted to him though, for Celtic and many, many other reasons.

     

     

    Hail hail JD

  5. Prestonpansbhoys/Thebhoyjinky

     

     

    Brilliant guys.

     

     

    Sorry I missed the quiz.

     

     

    You Bhoys better be swatting up for next week when the Burghbhoy’s back in the race!!

     

    Aye right.

     

     

    Well done Prestonpans Bhoys !

     

     

    Hail Hail

  6. prestonpans bhoys on

    The Spirit of Arthur Lee 11

     

    The Boy Jinky 11

     

    channelislandcelt 9

     

    jimbo67 10

     

    charles kickham 1

     

    so sprint finish………………..

  7. prestonpans bhoys on

    ps What year was the first Celtic v Rangers Scottish FA Cup final and what was the score ? 1894. 3-1

     

     

    anyway last question for 3 points an first come first scores………

     

     

    Q8 What record does Billy McNeill hold at Celtic?

  8. charles kickham on

    in my defence I would like to state that I wasn’t really playing but watching the masters -my story and I’m sticking to it

  9. prestonpans bhoys on

    channelislandcelt

     

    21:56 on

     

    12 April, 2013

     

    most apps 790

     

     

    yip shoot out required between

     

     

    The Spirit of Arthur Lee 11

     

    The Boy Jinky 11

     

    channelislandcelt 11

     

     

    Of the 11 clubs who formed the original Scottish League only 4 are still League teams, Celtic is one who are the other 3?

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