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Ticketus secure their £40m of tickets

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None of you will be surprised at today’s opinion from the Court of Session in Edinburgh that Rangers’ deal with Ticketus cannot be set aside, despite some absolutely pitiful reporting to the contrary.  It’s fine to get things wrong every now and then, we all get Duff information on occasion, but please….

It’s worth recording, Ticketus may only have paid £20m + vat but the tickets they own are worth in the region of £40m. High risk investments require a high return.

Rangers’ administrators argued that the deal inhibited their ability to rescue the company but the heroic Blue Knights submitted a bid accommodating Ticketus, undermining the administrators’ argument. If only the Blue Knights were in a position to strike a deal with Craig Whyte they could be regarded as helping the situation instead of being hapless fools.

Next up is HMRC, who have not capitulated and agreed to accept a few pennies in the pound.  They have not agreed to accept anything less than all monies owed.  Soon after that we will hear that no court has been able to set aside Craig Whyte’s security over Ibrox.  The most underappreciated man no longer in Scotland remains the only person with a reasonable chance of phoenix-ing Rangers.

The first 26,000 (approx.) tickets sold to each Rangers game for the next three years are owned by Ticketus.  In the event a phoenix occurs, Rangers will have to revert back to budgets from their glory days of the 1950s – we will soon be told this is a great omen.

If you are going to Ibrox on Sunday, take care and enjoy your visit.  Take photographs of the occasion and send them in, we’ll perhaps use them on a future edition of CQN Magazine.  It may prove to be the end of an era.

If you’ve not read the article below, about one of Jinky’s great performances, do so now.

Issue 7 of CQN Magazine is out now! Go to the dedicated magazine site here to read it properly (which you’ll not be able to do below).

Thanks to everyone who has bought a hard copies of the magazine, it looks like the sold out sign will go up again.  Order your copy for delivery by clicking on the link below for news and views from Celtic supporters.

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1,467 Comments

  1. so what did Duff and Duffer want to get out from the court case about Ticketus, and how will they play the judgement

  2. Mountain_Bhoy is Neil Lennon on

    brilliant, Lord Hodge couldnt make a ruling as there wasnt enough info about the bids, HA HA HA!! so the bids are total pash then? :)

  3. Has one of the big known unknowns now become a known known or is it an unknown known? I don’t know.

  4. Duff and Duffer and Bluffer.. are

     

     

    Jist … Actin like .. Ah wid Expect they wid..

     

     

    They hiv jist suffered a Defeat..and they wullnae admit it.

     

     

    Par, fur the course.. really.

     

     

    Kojo

     

    Still Laughin’

  5. Sandman Is Neil Lennon on

    Hey, what’s wrong with us Tims?

     

     

    Don’t we all realise that on FollowFollow the Ticketus decision is being touted as a GOOD thing?

     

     

    You see, they are now ‘just’ a normal creditor, NOT a major creditor (‘cos £24 million isn’t a major amount of mojey, kids!) and they will accept 10p in the pound through a CVA just like EVERY other creditor including HMRC!

     

     

    Awesome, kids! Go Gers!

     

     

    Tomorrow: why smoking, alcohol and asbestos are actually BENEFICIAL to your health!

  6. Only the Laptop Loyal could make the Ticketus verdict as a positive for rangers. They are deemed a creditor but according to STV the administer can just forget them.

  7. Magnificentseven on

    jmccormick on 23 March, 2012 at 18:08 said:

     

    Talking of tickets………..need at least one for Sunday , any help welcome!!

     

     

     

    scroll back someone was offering two….can’t remember who though sorry!!

  8. Kojo, thanks :-)

     

     

    My take was D&P wanted the deal ripped up, they left court with the deal still in place and it’s up to them (or the new owner) to break the deal.

     

     

    Others are saying it’s good news, if the Admin break the deal, then Ticketus become creditors just like the rest.

     

     

    Maybe I’m better off having a drink, that might make it clearer…..:-)

  9. Allgreen admin heaven on

    If any other club in the world had cheated and were put into administration they would be a laughing stock in the media.

     

    If any other club couldn’t even get their own appointed administrator to cut staffing costs and overheads without a drama questions would be asked in the media.

     

    If any other business went to court to break a legally binding contract they would be called crooks.

     

     

    The administrators are acting like Huns, why are they bothered about the Huns future? Their job is to secure as much as possible for current creditors.

     

    Mark Dingwall is a rocket..

  10. This puts a take over bid in question. They would be buying into a venture with £15m owing the tax man .£6 m a year to Ticketus and a £10m gap in their finances per annum.

     

     

    They would also have the FTT result hovering.

     

     

    Tick tock to liquidation. Newco will struggle to make it for next season in any league.

     

     

    The longer they leave it the sands of time increase.

     

    Diff and Duffer are playing a blunder……oops spell check….naw leave it..

  11. TET – Buenas tardes amigo, had my first round of the year yesterday; a very surprising 79 blows:) kept the left bat straight and swung at 75% most of the time, great advice and thanks again. I’m looking forward to the new season with much optimism. Sunday will bring a special brand of hunthuggery, i hope our bhoys are up for it. This is sneaky sallys last hurrah and he has only one tactic for us. Win the midfield Celtic then win the match, as opined by birthday bhoy Bertie:)

     

    slainte

     

    tony

  12. George ‏ @drummogo Reply Retweet Favorite · Open

     

    I have two spare tickets for the Broamloan stand for Sunday selling face value £42 each 07768575751 #HH

     

     

    I`ll take them , !!

  13. Song for Sunday

     

     

    Here is a little song I wrote

     

    You might want to sing it note for note

     

    Don’t worry be happy

     

    In every life we have some trouble

     

    When you worry you make it double

     

    Don’t worry, be happy……

     

     

    Ain’t got no place to lay your head

     

    Somebody came and took your bed

     

    Don’t worry, be happy

     

    The land lord say your rent is late

     

    He may have to litigate

     

    Don’t worry, be happy

     

    Lood at me I am happy

     

    Don’t worry, be happy

     

    Here I give you my phone number

     

    When you worry call me

     

    I make you happy

     

    Don’t worry, be happy

     

    Ain’t got no cash, ain’t got no style

     

    Ain’t got not girl to make you smile

     

    But don’t worry be happy

     

    Cause when you worry

     

    Your face will frown

     

    And that will bring everybody down

     

    So don’t worry, be happy (now)…..

     

     

    There is this little song I wrote

     

    I hope you learn it note for note

     

    Like good little children

     

    Don’t worry, be happy

     

    Listen to what I say

     

    In your life expect some trouble

     

    But when you worry

     

    You make it double

     

    Don’t worry, be happy……

     

    Don’t worry don’t do it, be happy

     

    Put a smile onyour face

     

    Don’t bring everybody down like this

     

    Don’t worry, it will soon past

     

    Whatever it is

     

    Don’t worry, be happy

  14. Just phoned the bank and informed them that I recognise them as a creditor but I am choosing to ignore our agreement about my loan.

     

     

    I can expect the Sherrif Officers to pay me a visit apparently… :(

  15. Correct me if I’m wrong here but why are the Huns depending on Paul Murray, thought he doesn’t pass fit & proper ?

  16. stv showing every goal angers have scored against us in the last 50 years.

     

     

    bhoys time to step up and put the dagger through the heart.

  17. Joe Filippis Haircut on

    The Administrators must be loveing this another week has past and they have there fee.The weeks roll on and the administrators coffers get fuller and fuller and Rangers are no nearer being rescued tonight than the day they went into tadministration.Liquidation still appears to be the most likely outcome.

  18. Jug McCluggoch “the players who have played a

     

    a few O F games will help the players who have only

     

    played one or two on their O F debuts ??????????????

     

     

    I’m lost as well.

  19. I don’t want them liquidated.

     

    I want The Blue Meanies to take them over.

     

    Encumbered by debt,

     

    and having to borrow even more money to be able to afford the purchase price.

     

    The Blue Meanies don’t have deep enough pockets.

     

    Have them stripped of their tainted titles for contractural irregularities between the Players , the club and the SFA.

     

    Liquidation is what Craig Whyte wants.

     

    No debt , more profit for him.

     

    TT

  20. Administrator’s lose the case against Ticketbus.

     

    Administrator’s this is great news for ra berrs.

  21. Duff and Duffer the answer to every denial berrs prayers!!

     

     

    No matter what happens it’s good news…

     

     

    Let see them spin it when we gub them on Sunday..

     

     

    C’mon Celts let’s get this done..

     

     

    No Mercy..

     

     

    SP

  22. hamiltontim on 23 March, 2012 at 18:24 said:

     

    jmccormick

     

     

    They’re sold :-(

     

     

    Thanks , I know now. I am off out on coaching duties, re arranged Sundays game cos of Ipox game, I am taking a chance but can be texted on 07768 703167 if anyone can help , will drive tomorrow to collect and pay.

     

    Hail! Hail!

  23. GourockEmeraldBhoy on

    Paul67

     

     

    Just in from work to find my Cqn magazine waiting for me, just a had a quick look after my tea and it looks good.

     

     

    Read earlier that ticketus had won their case but driving home the radio states the administrators are happy with the decision as they can literally tear up the deal. Anybody know what the real story is as I,m none the wiser (nothing new there)

  24. starry plough

     

     

    Spot on. Essentially whatever decision Paddy Hodge dished out was always going to be good news as far as Dim and Dimmer were concerned.

     

     

    You have to wonder who those jokers are actually acting on behalf of as opposed to who they are meant to be acting on behalf of.

     

     

    And their dosh keeps on coming.

  25. Auld Neil Lennon heid on

    !!Bada Bing!! Kano 1000 on 23 March, 2012 at 17:39 said:

     

     

     

    Auldheid- No need to shout :}

     

    —————————

     

    I know, but every second day somebody comes on and asks that question. I appreciate the quick moving nature of the blog means answers are missed but it just keeps on being asked.

  26. Auld Neil Lennon heid on 23 March, 2012 at 18:36 said:

     

     

    What was the question? :O)

  27. Paul,

     

     

    Patrick Hodge’s concluding paragraph is as follows:

     

     

    “[63] I conclude that the legal nature of the rights which Ticketus has in the Ibrox stadium, the season tickets for that stadium and the proceeds of future sales of the season tickets are purely personal contractual rights. ”

     

     

    Ticketus have bought season tickets from RFC and have appointed the club as their agents to collect payment for those tickets. It is not possible to have a contract with a stadium. If Rangers (IA) is sold as a going concern, the contract is a valid one. If Rangers (IA) are liquidated, its contractual obligations are only fulfilled to the extent of a percentage paid out to all of the unsecured creditors.

     

     

    Craig Whyte may have given Ticketus personal guarantees based on his position as holder of a floating charge. For example, he may have agreed(contracted) to pay Ticketus £24M on crystallisation of the floating charge. Again, this is only a personal contract and is risky in that assents attached by the charge may not realise this sum.

     

     

    HH

     

    Monaghan

  28. Auld Neil Lennon heid on

    GourockEmeraldBhoy on 23 March, 2012 at 18:30 said:

     

     

    Cutting through the crap, Ticketus are out £24M and will want it back, one way or another. They have actually paid more for Rangers than CW has and the idea they will be left empty handed is absurd.

     

     

    Litigation with a possible embargo on selling tickets until they get paid is one likely outcome.