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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Paul , do you think the SFA will now apply the rules properly and withdraw the licence given to the NEW club ( stop laughing at the back ) and if not how do we force them to ?
HH
The Boy Jinky
Certainly not. I refer to the less than august body of Zombies who play on the other side of the river. And I don’t mean Benburb
Prestonpansbhoys
I think you did well- a nice even tempered quiz amongst friends. That has led to accusations of malpractice and cheating:-))
Jimbo
P67 – I understand PL’s “charm offensive”, but surely we’ll never be in a better position to rip up the current establishment, which is clearly unfit for purpose?
T4
Ding dong the huns are dead, the huns are dead. Hahahahahahahaha Long may it last this time. Whoooohoooo
Weefra HH
Jimbo
They wont last until august
Not even sure theyre sevco till july
So if the rumourmill is to be believed, Zombie 2 are apparently about to revisit us at a SFL2 league near you. Ok they wanted higher, but will have to settle for this for now!
So, what if this has been the plan all the time, and why Green has been cozying up with the St Mirren chairman. Nice wee rental income for you for the ground share etc and we may even buy you over if those bad Scottish supporters from other clubs force us out completely.
Green & Whyte, the pawns of Murray take all the blame (with a nice pay off), and the man with no surname rides in to take charge of debt free team in a higher league. The cleansing of the darkside (well just the debts anyway!)
Turnbull Hutton, hope you are rested well and have your fire retardant jacket ready , as once again we will be calling upon you (are you watching, Peter?).
The shout was No confidence in the SFA.
HH
CRC
ps Prestonpans bhoy, a fine deputy quizmaster in the making
Reports of Charles Green being seen
visiting a butchers in Brigton.
Operation square sausage given the go ahead
to save Sevco.
STV essential viewing – World Record?
The big facade – The Grade B, red brick, listed one at Ibrox.
That’s the stumbling block.
Has anyone seen it lately?
Is it really crumbling?
It would make sense to let it fall down so as to pave the way for redevelopment.
Paul
The Sevco plot is remarkably like A Weekend At Bernie’s. Two people trying to pretend their dead football club is still alive. Maybe we should start a campaign to get the movie theme tune to number one!
http://youtu.be/eQgFhs_6pwM
Hail hail
Evening All…
Like lots of Tims I’m in general too busy (working to pay my taxes) to keep absolutely on top of the bamboozling farce surrounding the lot of them…too many twist and turns (and not like Tommy’s) for me to keep up with.
But…I do know they’re totally screwed though. I do know that there’s a right good chance some real ‘characters’ will end up in real trouble (please please please let Minty go to jail). Anyway, I do know these are very happy days!!
Is it just me that wonders what Celtic’s strategy is for making the most of this?
Toronto_bhoy
Are you on line?
Weefra HH
Just in from my meeting passed through Harthill and the devil jumped into me 52yrs old leaning out a motor shouting CRAIG WHYTE, CRAIG WHYTE, CRAIG WHYTE.
If looks could kill and huns could fly i would have been in trouble :))
Just catching up this is “BEYOND MY WILDEST DREAMS”
An unprecedented “Friday Night Article”?
Goodness.
Very well put, Paul67. Feels like we are at the beginning of another huge dip in the rollercoaster known as Rangers/Sevco.
Can they go through a SECOND phoenixing in less than a year? This would surely be unheard of anywhere in world football.
Any what happens to the ownership of the main assets – Ibrox and Murray Park (and is the conveyer belt included?)
Astonishingly, could the mad jakey known as Bomber Brown have been right? Is the most important question now:
“Who owns they title deeds ‘n that? Eh? You buy ra pies, but who owns they deeds?”
Bhoys -the guy stamping all the cards from Murray to Green is Campbell Ogilvie.Celtic and others pursue.
When P67 posts something new on a Friday night you know it’s gonna be good! Above and beyond the call of duty, you’ve made tomorrow’s papers irrelevant.
The Boy Jinky
I can’t see how they can. But I thought that a year ago. I knew all the stuff about the Bond & Floating Charge and knew that CW was always still in the game. I had not taken into account the shameless gerrymandering that has taken place at the SFA and SFL as well as within
Ibrox itself since then to think that they are done for this time either.
But I live in hope
Jimbo
Noticed that Paul 67 is increasing his server farm wonder if he’s thought about talking to WeefratheTim he’s a farmer after all…………………………………………..
!!Bada Bing!!
22:50 on
12 April, 2013
Absolutely spot on!! CO= Complicit Orange
No confidence in the SFA
HH
CRC
leftclicktic
I was working in Harthill during the week , OO halls – fleg poles with the butchers apron fluttering in people’s gardens .
Backwater doesn’t come close to describing this place .
HH
Hi Paul67,
Catching up a bit so don’t know the true significance of today’s revelations, but “The Great Football Swindle” is a great powder dry title.
Then the article really lights the fuse…
Now
Waiting for the Kabooooom!!
ItaliaBhoy
22:50 on
12 April, 2013
“Can they go through a SECOND phoenixing in less than a year? This would surely be unheard of anywhere in world football.”
———————————————————-
a world record, perhaps?
HH
CRC
Fine fine summation Paul sir !
Regarding stupid stupid peepil a bet you that the Jim White and David Tanner fellas are feeli like a right couple of Barrs irn bru baby’s eh !
They kissed both Super Dupers erchies and have swallowed a significant amount of schect now as a result ! Forget the mouthwash boys yer careers like yer love club tainted and tarnished beyond redemption !!
New Newco name Shafthun Town !!
prestonpans bhoys
That is a very personal deal I have made with Paul67. (He never offered a penny, so he’s oot) . Lol
Weefra HH
SFTB @ 22:25
Another great insight to the whole affair, as are Paul’s always.
I’d go with your 3rd option, but of course, the two questions for me are, how clever are they all, and how far do they need to go to cover up a Scots “entrepreneur” squandering £1000M of debt which seemed to come from blank cheques eventually funded by the tax payer. My paranoia makes me look at the recent changes in the legal and rozzer system for answers to that.
time for songs:
http://www.youtube.com/watch?v=hiQoq-wqZxg
Being in Rome at the time I missed this –
bournesouprecipe, 22:45 on 12 April, 2013
STV essential viewing – World Record?
Just watched it and totally gobsmacked. Thanks for posting that!
The wee russian guy is back…
http://www.youtube.com/watch?v=lZ-e0EGFvE4
celticrollercoaster
22:45 on 12 April, 2013
Turnbull Hutton, is a name that is already right up there as being a person that can take Scottish Football forward.
We have Campbell Ogilvie who is so mired in the sh*t* he cannae even speak, never mind take Scottish Football forward.
How’s my times does a club shot itself in the head before its support accept it is dead…?
All for what?
Those second rate plastic banners (An indicator to the ‘spend’ available) trumpeting the unbroken history myth.
All the while whistling past the graveyard.
To have gotten away with so much, so, so much…
… and thought it wasn’t anything more than deserved vindication. Propped up again by a plethora of weak journalists – writing wishes rather than facts.
To have not known (You too (U2) Sir Mister David Murray) that Mr Whyte was the smartest man in the room…?
For shame.
What good then is wisdom, when it brings no profit to the wise?
Fool ya how many times?
u
Green’s comments during the week
were akin to Nixon’s ‘I did not tell a lie’.
The games afoot and the net is closing in.
Whyte is resigned to his fate and it’s now
all about who is going down with him.
Evening, dont you just love Craigie Whyte , think old Chico Green has tried to shaft the wrong guy. Surely BDO have to be all over this , AIM need to suspend trading in shares.
as for the SFA don’t expect much ,will be usual nothing to see here , it was all Whytes and Greens fault and cardi man will be brought in to be accepttable face of SEVCO.
SSN……………………..Allez LeCoist getting SFA for new players
One of the interesting observations I’m making is that Media / Hun supporters no longer looking for somebody else to blame…usually Lawwell and other chairmen would be getting bullets in the post by now…Reagan and Doncaster would be getting conspiracy pelters,,, but all attention is fixed on the movers and shakers at Ibrox…. Only a matter of the before fans start looking in the mirror to find the source of their demise. They have been duped.
Turnbull Hutton CSC !!
But I expect he’ll be retiring soon if you have the same faith as I do in this country’s current mechanics.
Cultsbhoy…
Their support believe they “are the people”…more so now than ever (and who could blame them with the amount of open collusion witnessed?)…I don’t think they will ever believe they’re deid as long as 11 blokes play in blue claiming to be the rangurs…
Funny or tragic? Nah…funny!!!
When you think about it nobody actually paid to buy Rangers using money they already had.
Money was in effect borrowed against the Rangers supporters future attendance at Ibrox to clear a current debt.
The folk providing the wherewithall – Ticketus – want their advance paid back because the folk they handed over their money to ignored their liability to repay them from future ticket sales by becoming a separate legal entity.
Anyone who thought Ticketus were no longer a factor is delusional. They have pursued CW but since he has nothing, he in turn has to try and grab back the assets he persuaded Ticketus to provide money against.
The only way that The Rangers could survive as a properly run business was for somebody to cough up the £18M plus from their own back pockets or other sources not connected to Rangers in any way.
I read once that Indians used to kill wolves by covering blades with blood that the wolves were attracted to and licked and in so doing drowned drinking their own blood.
It seems no one at (The)Rangers has heard this tale