Football clubs tie themselves in knots sometimes. Newco Rangers fired off with an incorrect rant on the same club/new club debate yesterday, only to be told to withdraw it a couple of hours later – which they promptly did. Dundee United signed Charlie Telfer on a free contract and were due to pay Training Compensation to his previous club, for the player’s development from when he was 13-years-old.
Football operates a Training Compensation system whereby clubs signing players up to 23-years-old have to make a payment for the development of the player since they were 13. The payment is made in its entirety to the club which previously held the player’s registration. The receiving club is then obliged to pay any previous clubs for their portion of the player’s development.
Dundee United contested the rate at which they had to pay for Charlie Telfer, incorrectly, as it turned out. They did not contest that they were due to pay the entirety of Telfer’s development to the preceding club. No mechanism exists to forgive Training Compensation obligations in the event a preceding club no longer exist. Any monies due remain payable, ultimately to the club’s creditors.
Those at Newco who fired off the statement in haste yesterday will now consider that they have collected payment for services fulfilled by oldco. It is up to Rangers’ liquidators, BDO, to recover their portion of the money from Dundee United on behalf of creditors.
A condition which Newco signed up to, to gain membership of the SFA, was that they become responsible for all Rangers’ football financial obligations. This includes paying down Training Compensation, as well as the still-uncollected £250k fine levied by the Nimmo Smith Inquiry.
That £250k fine has become something of a football ‘football’. It is a football debt due to the SPL, which has since folded its liabilities and obligations onto the SPFL. The SPL was not in a position to enforce payment as newco never played top flight football, so the matter was parked until it became actionable. I don’t know the current position of the Nimmo Smith £250k debt but faux bravado can only encourage others to ask the question, “Where’s our £250k?”
CQN Annuals are shipping! If you pre-ordered it should be dropping through the letter box soon. You can order yours here in time for Christmas, or you can order an incredible Annual-DVD bundle here, two stocking fillers in one hit. Get ‘em while DVDs remain in stock!
Have you signed up for the bucket collection on Sunday? Hope to see you there. More importantly, if you only have four minutes to spare today, watch this video. It is out today and tells you what all the £1’s that go into your buckets do.
The whole ‘More than a club’ business takes life on the streets of Scotland, the schools of Africa and lots of places in between. You need to watch the video to find out how.
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Jobo
Crackin Chippies & Cafè’s?
Jobo
erm, ……the aqueduct Reg!
HH
My mate’s a Thistle fan. He watched the Celtic – Thistle game in Jack Dempsey’s pub in New York last week, and said he was impressed by the amount of Celtic fans in there on a Wednesday afternoon.
So if Sevco are to go into administration, thier statement has effectively signed off a 25 point penalty?
Good evening all.
MOONBEAMS
A very many happy returns buddy. Hope you had a cracking day. :-))) ME AYE TAE.
Weefra HH praying to Wee Oscar.
DD
Why isn’t that every SPFL/SPL /SFA cock up seem to favour the Huns ..,strange that
Almost as if it’s by design
Jonny the tim
Yes jonny position filled thanks to toffeetim’s bhoy.
Looking for a part 1 scaff if that
helps. KTF.
pfayr-200k for a youth player? DU would never have signed him if they knew that was the fee.
Count Dracula scores for Barca
Bada bing!
The Huns have quite a few European records. Their support has all the criminal ones but the club?
Biggest defeat in a domestic competition…7-1.
Only club to be barred from defending a European trophy due to crowd trouble.
Along with Linfield, most attempts at the EC/CL without winning it (1 Semi in something like 26 attempts)
First major European club to be liquidated and become defunct due to financial irregularities.
I could go on.
Jimtim@20.18
Def the Felons will be showing it. Couple miles from City Centre but well worth the trip. Wear a red carnation.
HH
PFAyr
A Design for Life! Indeed!
!!Bada Bing!!
pfayr-200k for a youth player? DU would never have signed him if they knew that was the fee.
———–
I assume DU can’t now say we aint paying, and release the player??
Yesss!
Desseybhoy 20.52
White man. He speak with forked tongue.
See my earlier responses on what profits Celtic.
RFC in disarray.
City 2 up.A lovely goal.
Is the Celtic game on the telly tomorrow night, Fholks…?
Bayern 3 – CSKA 0
City superb tonight.
Gearoid1998.
Thanks for that. Will get there. Without the carnation. Is it safe enough to get a taxi. And is there an address
stairheedrammy
I was talking about the secondary school in Clelland St.
Good result for City there, they deserved that one.
Are the Arabs giving BDO the Telfer money ?
50 quid to watch Scotland.Yet the blazers fail to persue Sevco for a football debt.
it ‘s only Celtic officials that are hiding behind the embarrassing 5 way agreement? the rest of Scotland clearly do want them back.
Glad I have taken my stance. Giving money to this lot at any level would only anger me. The Scottish games highest paid Administrator in its history keeps schtum. Pink is obviously not a tic fan. Enough material for a double Album there.
Against this backdrop, the chances of Resolution 12 ever being progressed seems to me to be nonsense. Sorry guys but that is how I see it.
I also believe its successful conclusion is professional football in Scotlands only hope.
SPFL does P stand for parasites ?
HH
BT Sport for tomorrow’s game
If Roma are the second best team in Italy at the moment then Italian football is very poor
the_huddle-he will be a replacement for Armstrong,in 10 years time that will still be a record for a youth player.
Tottie like Gerrard finds CL football a bridge to far now me thinks.
The boy’s Xmas is going to be a good in
Ajax -1 13/8
Chelsea score both halves 17/10
Man city draw ht win ft 11/2
Porto draw 1-1 13/2
£3:00 quad
£1,036
Bada – figure includes vat payable to Sevco- who I am sure will remunerate to HMRC thereafter ( cough)
DU should be able to reclaim vat element
I hope we can’t get ajax and the horrible element in their support ( including their local polis) in europa league round of 32.
Right telly time, watch my recorded programs, night all, and HH
Lurking HUNS GIRFUYs.
Auldheid
CFC make profits from selling players and CL entry ..no other activity
According to our esteemed CEO no Huns means £10m loss
IMO our custodians will be happy with the guaranteed £10m from the ” return of Rangers” ( sic)
Rather than the players sales/ CL gamble …..
To suggest CFC make more money with no Sevco doesn’t accord with what our board say….unless you’re suggesting they’re telling us lies
Macan
Ya Beauty! :))
Lovely timing.
Dallas
Just back in and scrolled back. Clare Doran made the wrong decision lol.
Also saw a post about the Partick Thistle supporter who watched the match against us in Jack Dempseys NY. Interestingly enough (in my world) the ex manager of that Bar was one of Anton Rogans best mates a guy called Liam Mc Greevy. Used to live across the street from Anton in Lenadoon. He was instrumental in getting Dempseys to show the matches. Our very own Rodney Stewart used to catch the matches when he was there in NY.
HH
gary67@ 21 40.
Indeed!
” The better team won”
Totti.
Auldheid
You reckon, I take him literally but will gladly accept being wrong , the sooner this is proved the better
macanbheatha-great line.HH
Bada bing
The Telfer cash and CFC game are both attempts at keeping them afloat financially
£200k fir a young lad not deemed good enough to play in the lower leagues …arrant nonsense
macanbheatha-Porto scored a screamer with 3 mins to go