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The Great Football Swindle

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By on CQN BLOG & Comments

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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  2. THE EXILED TIM on

    I thought headtheball’s post earlier was superb.

     

     

    Is it green scamming Whyte

     

     

    Or is it whyte scamming green

     

     

    could it be green blackballing whyte, or visa versa

     

     

    wtf, they are all orange barstewards

     

     

    I paraphrase.

     

     

    Superb stuff

  3. garygillespieshamstring on

    Well Monty,

     

     

    Never mind the masters. What have you got to say about Craig Whyte and the pending demise of your beloved sevco? Nae majors for you and soon nae zombies.

  4. Gordon64 on

    Petec

     

    Agree re CL

     

    However we need to improve our SPL form.

     

    Outwith the CL games this season has been hard going.

  7. ArranmoreBhoyLXV11 on

    HH

     

     

    CRC 0024….indeed , but of course respect my anonymity please..south sider all my days…years…a Holyrood bhoy.

  8. Fortunes Favour Mibbes on

    petec @ 00:34

     

     

    I agree amigo. But we need a fair crack at the whip. Yet again, we all predicted it, before the draw, Juve and dodgey mibbery would see us out. That’s exactly what happened. And we don’t get so many chances to overcome mibbery in Europe as we do in Scotland.

     

     

    Big changes needed. All over.

     

     

    But not going to let those thoughts distract me from the joy of hunnery dying it’s long, slow, overdue death. And the SFA. And the establishment.

     

     

    http://www.youtube.com/watch?v=B8XEebRviKo

  9. starry plough on

    Gincher67

     

     

    Well time will tell, I know nothing about investing or that kind of thing, it would seem crazy to throw more money at a business losing money but then again what do I know about these high flying worlds the likes of Chuckles and Whytey inhabit!!

     

     

     

    When the s**t hits the fan it’s best to stand well back..

     

     

    Oh Campbell have you got your raincoat looks like the weather is changing..

     

     

    HopeCSC

  10. Allgreen on

    For Chris Graham

     

     

    It’s immoral and illegal not to pay the taxes in the first place.

     

    Your former team trying to run away from debts yet kid on they are the same club is also a bit immoral in the land of the sensible and law abiding.

     

     

    Huns dead? Check

     

    Thatcher dead? Check

     

    Huns 2 the follow up dead? On life support till the next round of sanctioned cheating begins.

     

     

    Why do that club and their incarnations seem to attract chancers. There is another way Huns.

  16. jungle jam67 on

    for crying out loud bhoys and ghirls

     

    this is a celtic fan site to talk about all things celtic

     

    can we get back to the football;-))))))))))

     

     

    yes/no

     

     

    a big no from this unrependant fenian

     

    maybe sunday before i stop laughing at the zombies nation implode

     

     

    green and whyte

     

     

    it all a timmy conspiracy………dont you know!

     

     

    god bless every tim around the world

     

    we have waited and waited for these days

     

    and whatever happens the last few year have been epic

     

    TAL

     

     

    jam67

  18. THE EXILED TIM on

    I know I shouldn’t but

     

     

    http://www.raceforlifesponsorme.org/Mamma-miasx4?utm_source=facebook&utm_medium=shares-from-eua&utm_content=Mamma-miasx4&utm_campaign=eua-share-facebook

     

     

    30 years ago a wee bonny lassie was born “Our Laurie” she was and is a special girl.

     

     

    She was so special that she saved her Mammy’s life.

     

     

    Unbeknown to anyone Mrs Exiled Tim had cancer.

     

     

    It was only discovered because of the pregnancy.

     

     

    My Mrs Exiled Tim would not be here to day if it wasn’t for donations to cancer research, she is a survivor.

     

     

    My daughter and her pals are doing the run for life for her Mammy and I’m being very cheeky and asking you to sponsor her .

     

     

    Help other sufferers become survivors.

     

     

    Sorry for asking, a few bob wouldn’t go a miss, just remember to thank CQN if you do feel the urge.

     

     

    HH

  22. petec on

    Gordon64

     

     

    00:42 on 13 April, 2013

     

     

    Sunday is a massive game and I want us to win this one with style. Hampdump is beginning to bug me and no doubt Neil as well. I’m sure the Bhoys will do us proud. As for the SPL, to be fair, it has been a unique season and probably a few players were not totally focused when they perhaps should have been. Not long until the Roses m8. ;)

     

     

    Fortunes Favour Mibbes

     

     

    00:45 on 13 April, 2013

     

     

    Dallas is still involved in Uefa? why is Gollum and Thomson getting these big matches when there is absolutely no justification for them getting these games. The corruption is deep and all we can do is keep on plugging away doing things as well as we can.

     

     

    Our best days are just ahead, our whole setup is the envy of many and we have the best Support in World Football.

     

     

    This guys whole technique is really up there with the best in the World, the guy who done the dummy isnae too bad either.

     

     

    http://www.youtube.com/watch?v=VJHxzYBPR7E

  25. petec on

    clunks

     

     

    00:56 on 13 April, 2013

     

     

    That is a brilliant song and is definitely one of my favourites. I’m undecided if it is my favourite, they did have a few belters after all.

  26. Freddiebhoy on

    Paul67

     

     

    Someone should set up an RFC in liquidation creditors information website to let them know exactly what is going on. They would be further leverage on this house of cards.

  27. Gordon64 on

    Petec

     

    I’ve grown to seriously dislike Hampden

     

    but i’ll be there on Sunday.

     

    (My good lady reminded me that it’s 8 weeks tomorrow

     

    till our holiday in Ibiza).

     

    9 weeks till the SR concert at the Green.

     

    C u there.

  29. thebhoywithmcgraininhisside on

    phelim brady 00:56 on 13 April, 2013

     

     

    You’re not a doohoma man by any chance?

  33. Kilbowie Kelt on

    Tiocfaidh ár lá.

     

     

    When we were making that bold prediction, we did not realise how completely satisfying that day would be.

     

     

    TODAY is that day.

     

     

    Good Night,…. & may your God or Gods go with you.

  40. emusanorphan on

    the exiled tim

     

     

    00:00 on 13 April, 2013

     

    emusanorphan

     

     

    Are you venturing over here this summer ?

     

     

    TET

     

     

    Unlikely mi amigo. I’m leaning towards Poland for a wee tour.

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