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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. BOB on

    Can somebody point me to the place where it says duffer and dogey sold the assets to 5088 as I can only find sevco scotland …. aNd my eyes are tired reading all the pages of stuff …..

     

     

    On A side note I see a compay employed by the administrator to post stuff to creditors etc was paid 70 grand nice wee job that

  3. PJBhoynyc on

    Paul67

     

    Thanks for the Friday night special.

     

    True, there are many actors who have played a role in this debacle… An authentic Comedy of Errors, which when the dust settles, is a tragedy for the reputation of Scotland and its decision makers.

     

     

    The Scottish Fitba Association has a lot of embarrassing questions to answer.

     

     

    But so do many other facets of Scottish culture.

     

     

     

     

    One thing we have in common with deluded hordes is this.

     

    We have all been monumentally patronized by the media, the SFA, the Government, the Police, the banks and the Judiciary.

     

    Why? To protect a club, or a Knight of the Realm perhaps?

     

     

    Retrospectively, it seems like The Mints’ very own rerun of the Darien Scheme, which must be covered up at all cost and any cost.

  5. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    As per my previous moniker ‘Truth and Justice will prevail’, my current moniker is starting to show signs of ‘fruition’ ……….ooooooooooooooooooooooooooooooooooooo

  9. The Boy Jinky on

    Pp

     

     

    My fb friends in america and engerlund are loving my rants about the ding dong….

     

     

    Cult hero status. .. could I be up there with craigy whyte .. craigy whyte.. craigy craigy whyte ;))))

  10. SwanseaBhoy on

    Paul67

     

     

    I’ve run out of superlatives. Just thanks.

     

     

    See in all our history, we are a privileged relative few to be observing this. Think how many have gone before and did not witness this and think of how many will follow us after the dust finally settles, probably a generation from now and will read and listen to our accounts of how this played out. This is history.

     

     

    Love Celtic.

     

     

    SwanseaBhoy

  13. Tim Malone Will Tell on

    Celticrollercoaster,

     

     

    The name on the document is White – not Whyte.

     

    I believe Craigy boy did have a habit of slightly misspelling names occasionally, but I would think that the document might be fake?

  14. celticrollercoaster on

    Ha ha, so last week, the Huddleboard was skitting the Friday night footie quiz and CQN as being the golfing wing of the Celtic family and now they publish an exclusive 6 months after CQN mention revealed it!

     

     

    HH

     

     

    CRC

  16. clunks on

    Actually retract the thought about the Stone Roses was it just Ian Brown?

     

     

    Check out these lyrics. Custom made

     

     

    You tell lies when the truth will do

     

    You are the social chameleon

     

    What on earth we gonna do with you?

     

    Slip your neck into a rope,

     

    Show me a smile

     

    You’d run a mile

     

    Then you are free,

     

    So where’s the goal?

     

    Where’s the style?

     

    You want the dough

     

    Got dead sea scrolls

     

    For you and your women too

     

     

    She’s got corpses in her mouth

     

    Still she’s holding hands with you

     

    It’s cut like crystal chandeliers

     

    I’ll shine like diamonds in her ears

     

     

    She smokes crack, it’s off the beaten track

     

    You are the social chameleon,

     

    You change to suit the people around you

     

    It’s like the waves that hit the shore

     

    You cannot stand the force of law

     

    Look man, I know it from your nature

     

    Hit the deck

     

     

    Hit the deck, as the creator

     

    Got dead sea scrolls

     

    For you and your women too

     

     

    She’s got corpses in her mouth

     

    Still she’s holding hands with you

     

    It’s cut like crystal chandeliers

     

    I’ll shine like diamonds in her ears

     

     

    http://www.youtube.com/watch?v=1qUTL10lKyc

  18. PJBhoynyc on

    Charlie Green. The latest Piñata hoisted up to distract and deflect from the big picture?

  19. Paul67 on

    The Boy Jinky, very true.

     

     

    SOAL, no need.

     

     

    10norm, hope the knee is well on the mend.

     

     

    SFTBs, I thought about adding Greed to the list, but wondered if Greed was merely a symptom of another issue.

     

     

    I think the stupidity explanation is the only valid one to your questions. They are all stupid.

     

     

    Channelislandcelt, aye.

     

     

    THE EXILED TIM, FourGreenFields, if I was Stewart Regan right now I’d be taking everything slowly and let other events make all the decisions for me. No need for the SFA to have blood on their hands with this one, others will tidy it up first.

     

     

    TTTT, aye, we can rip up the current setup but only the faces will change, not the habits. We need a route out, that is the only change worth having.

     

     

    dixiebhoy69, ha! Like it. Weekend at Billy’s.

     

     

    ItaliaBhoy, aye, indeed.

     

     

    taggsybhoy, cheers, J.

     

     

    prestonpans bhoys, heard it!

     

     

    Chairbhoy, relax and enjoy when it comes.

     

     

    ToffeeTim, thanks.

     

     

    leftclicktic, you’re very welcome.

     

     

    Celtic Mac, indeed.

     

     

    tommysbhoy, thanks.

     

     

    WeefratheTim, not yet…..

     

     

    CRC, aye, remember that.

     

     

    PJBhoynyc, you’re very welcome.

     

     

    SwanseaBhoy, yes, we are very lucky.

  29. celticrollercoaster on

    SmashingMilkBottles

     

    23:26 on

     

    12 April, 2013

     

     

    You got them made yet?

     

     

    HH

     

     

    CRC

  30. Gordon64 on

    This level of ‘swindle’ will require

     

    a court case of gargantuan proportions.

     

    But for the sake of truth and justice it is necessary

     

    and in the public interests.

     

    .

  31. zimmerman on

    Just in from backshift and watching a recording of the Raman show….McDowell looks like a rabbit in the headlights when asked if Chuckles is trying to bin him.

  35. THE EXILED TIM on

    Paul67

     

     

    You will probably be right as ever, well I hope so.

     

     

    Still wouldn’t have a wager on it mind you, time will tell who is right, here’s hoping I lose >}

  36. winning captains on

    Guess who had his last serious brush with the Police during the week when Maggie Thatcher nearly died?

     

     

    After the Brighton bombing he was arrested and taken to Belfast for fairly intensive questioning as the device apparently exploded in his room.

     

     

    Of course he was just an innocent party member and this was quickly realised and released.

     

     

    Now nearly 30 years later and in the week Thatcher does die, there could be another police question and answer session coming his way.

     

     

    What was that word Paul told us about? The legal term uttering. A big fraud bomb hidden under the bed.

  37. Ntassoolla on

    Gordon64 @23:46 “This level of ‘swindle’ will require a court case of gargantuan proportions.”

     

     

    I wonder are any of the documents are notarised, and if so where.

     

    Seems like Green wants to shift the case to Scottish jurisdiction.

  38. johann murdoch on

    Meanwhile in an office in mount Florida chief exec Ogilvie on hearing the latest sevco news puts on a pair is sparkly high heels closes his eyes and clicks the heels and repeats ” there’s no place like home !! There’s no place like home !! “

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