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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Kevinlasvegas
ohhh cracker!!tweety pie heid….whaaaahaaaaaaaaaa
Wee daughter looking at me in a strange way…silly daddycfc
SFTB
Brilliant!
Gordon_J backing Neil Lennon
When Tiger Woods came back into golf, was he a newco? Maybe that’s why the rules don’t apply.
So is he now known as The Tiger Woods?
Sounds like a farce at Ibrox.. Setting up an independent commission to investigate whether they have broken any rules?
Hmmm…
If the SFA use this scam as an excuse for not doing anything about Green and Whyte it will be the latest in a long line if lamentable failures by those tasked to run our game.
lol. He is Tweeties spit.lol glad i stay out of Coatbridge today, sounds nuts. they always cause bother, i lived on sunnyside rd, right beside st. andrews always bother going past the other pubs, pint glasses flying across the road.
KLV
Tommysbhoy – was it Justin Whittle?
it looks like sfa will do nothing again by the looks of this latest stalling tactic. The Cable still stands it seems.
KLV
How can The Rangers set up an independent commission to investigate themselves? Surely, by any definition, it won’t be independent??
Don’t see the relevance of panels – independent or otherwise. This isn’t the SFA rule book we are talking about here, these are allegations of CRIMINAL acts.
The panel might be a device to keep the stupid Hun hordes onside and try and persuade them to part with ST money – but it has no relevance to Whytes allegations.
Clyde still saying no statement has been issued from Ibrox. I thought they still weren’t talking to the BBC.
12:52 on
13 April, 2013
keevins saying Hibs don’t have 3 goals in them……mon the Hibs …… LOL
emday know our shuggie gonnae ask him to announce loud n’ proud FAV UNCLE will never win the lottery.
jobo.well done 310 HIBEES AT 7’1 WHEN LOSING.HAUFFERS.
Are the under-17s putting any other European giants to the sword today?
leftclicktic
15:38 on
13 April, 2013
Reports of Trouble in Coatbridge as zombies hit town
———
What’s happening?
Millions spent by Scotlands footballing authorities using the legal profession to adjudicate on one club
Clubs using the legal profession against Scotland’s footballing authorities risk the wrath of UEFA
One club getting extraordinary unique treatment by the footballing authorities in Scotland, how can UEFA allow that to happen
The Masters committee were advised to seek clarity from the SFA advisory committee and were told that they need a strong Tiger Woods.
The puppets at ibrokes don’t have the power to oust chuckles.
He’s been asked to toe the line until his shares become attainable.
That’s when their blue mafia move in.
It will be portrayed by the msm, that the whyte and green escapade is a learning curve for every team in scotland to be aware of.
Nothing happened here.
CG & CW……..almost Victorian…..steam-punk villains…..in a hi-tech digital age they’re masters of the folding suitcase 3 card monte swindle, snake oil by the bucket load……dodgy land sales, all the ancient manipulation of the gullible.
Masters of the heartless removal of fools’ cash.
They’d nick yer grannie’s gnashers if they thought there was a profit in it.
And all those supposedly reputable businessmen and companies lining up to aid these criminals in their enterprises, well, it’s all indicative of the spiv society we’ve become and which has become the norm.
If it was a novel it would never sell because it’d be regarded as way too far-fetched.
But there it is. T’rankers have pulled it off…..the utterly ridiculous made real.
Their greed and stupidity are beyond farcical. Folly folly indeed.
Summa
The authors inability to appreciate that Sevco couldn’t get voted out if the SPL ….unfortunately taints article
Gordon_J backing Neil Lennon
15:46 on
13 April, 2013
How can The Rangers set up an independent co mmission to investigate themselves? Surely, by any definition, it won’t be independent??
=======
When asked anything about anything, Ibroxclub will declare that nothing can be said because the Ibroxclub are the final appellate body and cannot be seen to be taking sides.
http://youtu.be/SLbFWivsfFE
George Galloway on Thatcher if anyone is interested.
Impartitial, Clyde SSB couldn’t spell it. ;)
KLV
A Summa of Sammi
So German papers employ lazy journalists as well do they?
Jimbo
Let’s dispense with the PR nonsense of Woods “owning up”.
He knew he had been rumbled by the time he was on his way to face the press. He was in damage limitation mode.
It is an offence at the point when it is committed. Not when it “comes to light.”
He suffered no greater consequence than if he’d owned up in the first instance. He was in fact trying to avoid the penalty, and for that further infraction he has suffered no consequence. His nothing to lose, might as well try and get away with it approach has been vindicated.
A modern competitor.
Who loudly proclaims his great respect for the sporting ethos and history of golf.
He’ll get it from both barrels.
The Americans don’t tune in or turn up to see Europeans play. They do so to see Americans win. The unusually high number of non-Americans in the top 20 of this tournament and the world rankings has to be fixed.
lionroars67,
hugh dallas was employed by uefa after having to resign from sfa as head of referee’s
uefa needs men to enforce their big teams in final’s at all costs and craig thompson and his official’s oblige, look closely and you might just see why uefa wont get involved, even when they see a national fa taken to court which is usually a big no,no for other countries,
ask sion.
Looks like Green has slapped down any dissenters
Thank God for that. Let the carnage continue.
kevinlasvegas
15:45 on 13 April, 2013
lol. He is Tweeties spit.lol glad i stay out of Coatbridge today, sounds nuts. they always cause bother, i lived on sunnyside rd, right beside st. andrews always bother going past the other pubs, pint glasses flying across the road.
KLV
Thats where the bother is Kev couple of text saying closed off by plod
Who wouldn’t begrudge Hibs the Cup? I would. They come to Glasgow with their strange east of Scotland ways, using strange words for everyday objects. Nothing about them makes them more deserving than Celtic.
Ring true anyone?
http://blogs.reuters.com/jackshafer/2013/04/10/our-national-pastime-press-criticism/
So, their bored are as dupable as their fans…..
Wee Reds 1-0 up in front of a full house against the Belfast Huns and are on course for lifting the title this evening
Afternoon bhoys from a very warm hun free mountain valley.
Thanks to the bhoys who donated a few bob to my daughters fun run, much appreciated.
I see the cabal have insisted on setting up an independant panel…oh dear.
The fear so many have of them is cringe worthy
yeah, the board are scared to sack Chuck and her pal. Stall and lie ,stall and lie.
KLV
kevinlasvegas
Car park behind St Andrews bar
An independent commission into the ongoing farce that is Sevco?
In other words ‘Lets buy some time and hope it all goes away’
Its amazing how much delight one can take from the soap opera down in Sevconia. Happy Days!
Parkheadcumsalford 15:04 (From Celtic Wiki)
1898 – Director James Grant, with permission from the board, builds a lavish private two storey stand on the London Road side of the ground. The luxury stand boasts padded seats and windows which can be shut if it rains. However condensation means the windows are useless and are later removed.
1904 – The 3,500 capacity Janefield Street stand and pavilion are destroyed in a fire. The club purchase the Grant Stand from James Grant.
1905 – A covered enclosure is built in place of the destroyed Janefield Street stand.
1914 – The cement cycling track is converted into terracing and Celtic Park’s capacity increased to 25,000.
1929 – Another fire destroys the Pavilion. The Grant Stand is demolished and the club employs Glasgow firm Duncan and Kerr to construct a new stand which is opened on August 10th when Celtic defeat Hearts 2-1.
FOLLOWING a meeting today, the board of The Rangers International Football Club PLC issued the following statement:
“The Board has announced today it is to commission an independent examination and report in view of recent allegations in the media concerning the Chief Executive, Charles Green, the Commercial Director, Imran Ahmad, and their management of the Club.
“The decision to commission the examination was taken unanimously by those in attendance at today’s meeting including non-executive and executive directors.
“The independent report will be commissioned and completed as speedily as possible and presented directly to the non-executive directors of the company.
“The Chief Executive will not be involved in the conduct of the examination. The Board wishes to make clear that is not prejudging any of the issues involved and that the object of this exercise is to clarify the situation to the satisfaction of shareholders, supporters, staff and Board members.
“Instructions recently given to lawyers in England and Scotland with a view to taking legal action to challenge these recent allegations will form part of the independent examination.
“Also at today’s meeting, the Chief Executive of the Club apologised unreservedly to Board members and the wider Rangers support for any offence caused by remarks he made in an interview last week regarding Imran Ahmad.
“Mr. Green told the Board that in trying to make a point in the interview that, as Chief Executive, he would not countenance any form of prejudice towards employees or players at the Club, he had exercised poor judgement in the words he chose. He apologised.
“The Board accepted the explanation that there had been no intention to cause offence and accepted the Chief Executive’s apology. The Board is satisfied that the Chief Executive did not act in a racist manner but reminded him of the importance of all office bearers at Rangers upholding the standards expected by the Club.
“Mr. Green will deal with the pending S.F.A. charge on this matter on a personal basis. The Board wishes to re-iterate Rangers is a Club which is opposed to all forms of prejudice and has a long-established policy of working extensively in the community through a variety of programmes and initiatives to tackle issues such as racism and sectarianism.”
Independent commission sanctioned by the Sevco board tolook into the Sevco board …… buying time.
Looks like the Sevco board are trying to brass it out in the hope that their troubles will disappear. Let’s face it, no one at Ibrox is ever going to act honourably … they just don’t do that and never have, regardless of the club involved.
Unfortunately for the Zombies things are way beyond the point of no return. Ten months of denial for nothing – and by the looks of it there will be no room for pretence second time around.