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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Auldheid
Those ex players who seem to hanker after a return of der hun are only speaking from their experience. The big important domestic games were against thems; no doubt about it.
In our wildest dreams, we could never have seen them going bust. We were suspicious about where their money was coming from. We always felt that they cheated us on and off the park, and that the MIBs helped them on it, but we had no idea of the scale of the cheating. Stan and the others, who are not bampots and are not as aware as us of the goings on down Govan way, reflect this “innocence” in their remarks.The MSM, of course, do their bit by repeatedly asking loaded questions.
Looks like the huns have digged a hole for themselves.
Are thems the same club? …. Only when they to claim money back…the whiplash team.
A wee want missing there:)
So BDO acting for RFC 2012 PLC are going to have to pursue The Rangers Football Club Ltd for money.
The Battered Bunnet
13:32 on
10 December, 2014
I see yet another Director has skyed the park down Ibrox way.
The Chemists and Physicists amongst will be able to calculate the half life of a Sevco board. With around 15 board resignations in the 2 years since incorporation, the half life seems to be around 48 days.
I think a new unstable radio-isotope has been discovered: Sevcovium has a nice ring to it, sitting between Actinupium and Laphinatthum. It’s one of the few metals that has no known liquid state, and is essentially ephemeral, existing only for a short period if time before decaying into a new element altogether.
a truly lol moment , I have to screen print that
HH
this page has had me genuinely laughing until I had to visit the “wee” ghirls room thanks for brightening up my day bhoys
HH
Auldheid
Now I do not wish to be appearing to blow my own trumpet here because I am not.
But:
In the very first edition of the CQN Magazine you will recall I wrote an article where I talked to an old football finances man who asked the question: “Which one does Dermot own and which one has the bigger stadium?”.
The article — Good Morning Fatty — is to be found in the first CQN Annual.
“Fatty” more or less said “game over” in that article and pointed out that there was only one club to buy and Dermot had it.
More and more what was discussed in the article comes to fruition.
There can be an re-incarnation at Ibrox and they can maybe make it to the top division one day but there endeth the comparison.
For a variety of reasons it is a business that cannot run and cannot be run in any way shape or form similar to the last 20 years without someone being prepared to lose millions of pounds per year as we are now seeing.
And the funny thing about Fatty and his ilk is that they don’t like to lose a grand let alone a million!
Tallybhoy @ 13 50.
If it happens ————–think Roma will be in the Celtic half of the draw and therefore couldnt meet until the last 16.
Napoli might be a Pot A team.. A wee trip to the fitba in Napoli would be a learning experience for the away support . Inter or Fiorentina would be handy for you .
Ger57
Agreed but it is the players’ voices the smsm repeat because they too are caught in the same time warp.
The Rocky Horror Keevins Show would be the title if they ever made a movie of it.
Dena,
You sound like my other half…
Lack of Pelvic floor exercises after childbirth are not to be laughed at :))
TBB / Auldheid – you fellas are on-form today. :-))
I thought Celtic were still owed money by Deid Co (on the list of creditors)? Why was this not paid if it was one of the conditions of their extremely dodgy licence?
BRTH
I remember the article well – Bums On Seats is the key and as long as Celtic are able to demonstrate they respect the right of Celtic supporters, indeed supporters of all clubs, to pay to watch an honest game then posteriors will KTF.
The coming spring will be interesting.
PS are you doing Santa on The Celtic Way this Saturday or is that a malicious rumour I just started?
“And the funny thing about Fatty and his ilk is that they don’t like to lose a grand let alone a million!”
Brogan,
Absolutely.
And the chicken lickens amongst our support could do worse than believe it.
The Honest Cover-up/Geordie Munroe
At £170,000 a go Lennoxtown must be a veritable goldmine.
No?
Geordie Munro
14:26 on
10 December, 2014
Dena,
You sound like my other half…
Lack of Pelvic floor exercises after childbirth are not to be laughed at :))
Ha Ha its a ghirl thing
HH
S o T
Inter or Fiorentina would suit Mrs S o T for a bit of shopping!
I have been offered a ticket for Milan v Napoli on Sunday by a Calabrese Milan fan.
Thinking about it.
HH!!
Auldheid
I’m glad you used the word ‘posteriors’ there,
Looks like Hibs have worked out a deal with the bank to become debt free fairly soon.
Celtic are the only club in Scotland at the minute who paid their debts in full.
LB
Celtic Mac
14:32 on 10 December, 2014
The Honest Cover-up/Geordie Munroe
At £170,000 a go Lennoxtown must be a veritable goldmine.
No?
—————————————-
I thought the mineral deposits were around Celtic Park? From the comments section of a blogger who’s sniffed too much Sevcovium :
“From the Kerrydale street forum: Redevelopment of area around Celtic Park? Thread. Posted by greenjedi a senior member: “Celtic Long Term Land Dividends
As we reported yesterday, Celtic have been busy buying up land around the periphery of the stadium for many years. The club managed to get the deal to buy land behind the Jock Stein Stand done before the mineral seam running below it was discovered. I hear the excavation rights are estimated to be worth £50m to Celtic, who bought the land for £3m in January 2009 with money which had been earmarked to buy Stephen Fletcher. Hibernian thought the Fletcher deal was done but Celtic pulled out at the last minute when the land deal became available due to an emergency cash requirement at the Council, who needed to build schools to educate children arriving in the city from Eastern Europe.”
:-))))
I may be the only one here who sees the Rangers statement alteration as not much of a climbdown.
Their first response was bombastic and aggressive, claiming to be proof of continuity.
Their altered statement, in response to a legal challenge on that claim we are told, removes some of the more outrageous claims but leaves it as “Dundee United have been ordered to pay for the training and development of Charlie Telfer who was at the Club for a period of 10 years.”
It does not state “at a club”
It does not state “at two clubs”
The myth of continuity is still being preserved in this amended statement.
They still claim they were vindicated by “the Club’s decision to take the matter to a Compensation Tribunal.”
Just what effect did the Cease & Desist order have? They don’t sound chastened to me.
Following a reminder from the @CeresArabs account re Rangers Youth Development. Charlie Telfer would have been with RYD from the start. I think they were bought by Charles Green as one of the assets before being wound up.
So it looks like there would be no reason for BDO to pursue any part of the payment from D Utd.
175k for Telfer? Leo MacLeod must be £5mil right enough….
Tallybhoy @ 14 37 .
I would go . It will have an atmosphere – lots of Napoli fans up north ! Strange team Napoli – very good midfield / attack and a joke at the back. . Benitez wont be there for much longer .
Went to Milan v Napoli just after the Milan v Celtic game . Lots of old school chanting –
” Africans , Africans , Welcome to Europe ” being responded to with lusty – ” German
***** ,German ***** “
Here…ra sellic will have to pay a development fee for super guidetti if he signs surely?
Geordie Munro
14:55 on
10 December, 2014
Here…ra sellic will have to pay a development fee for super guidetti if he signs surely?
Doesn’t apply when transfer is between different associations. We never paid Cardiff anything for Matthews
Geordie Munro
14:55 on
10 December, 2014
I don’t think so because if he joins on a free at the end of the season he’ll be over 23. If we get him in January, we’ll have paid a fee.
Gary67
14:57 on
10 December, 2014
Oh yeah, that too.
Carrying on from TBBs Chemical elements spiel…
Would we not be able to combat The Zombies with Crypt-onite?
Is continuitium a mythical element?
Does it have a co-violent (flute) bond?
Are their fans acidic or just an alky line?
Are their Group 7 elements called Halo-Halo gens
What are the contents of The Ibrox mole?
Do they produce Ignoble gases?
If it quarks like a hun, is it a hun?
Their van’t Hoff factor is the cry made by a player who desires to be substituted.
I’d take JG for £204 Inc vat. As stated above, it doesn’t apply :-(
£204k
Ah, the old mineral seam. Good times…
I just asked. Ffs.
Pairra bullies ;)
setting free the bears for res. 12 & oscar knox
15:00 on 10 December, 2014
Carrying on from TBBs Chemical elements spiel…
Would we not be able to combat The Zombies with Crypt-onite?
Is continuitium a mythical element?
Does it have a co-violent (flute) bond?
Are their fans acidic or just an alky line?
Are their Group 7 elements called Halo-Halo gens
What are the contents of The Ibrox mole?
Do they produce Ignoble gases?
If it quarks like a hun, is it a hun?
Their van’t Hoff factor is the cry made by a player who desires to be substituted.
——————–
Excellent! :-)))
geordie munro
15:02 on 10 December, 2014
I just asked. Ffs.
Pairra bullies ;)
————————-
You get nothing in this game for two in a bed!
davidopoulos
15:02 on 10 December, 2014
Ah, the old mineral seam. Good times…
————————–
Just wait ’till the zombies hear about that new one at Bobby Lennoxtown!
Its hard to come up with a chemistry joke whwn all the good ones argon.
Bad day at the office last night. Had Juve draw, Liverpool X2, Dunfermline who had never lost at home to Stranraer
Put the heating allowance on it
Knew I had done wrong and made up my mind there and then to go to confession, first time in 25 years.
Inside the confessional box I found a fully equipped bar with Guinness on tap.
On on wall there was a row of decanters with fine Irish whiskey and Waterford crystal glasses
On the other wall was a fine selection of quality cigars and chocolates.
Then the priest came in and I said:
“Father, forgive me for it’s been a very long time since I’ve been to confession but I must admit that the confessional box is much less intimidating than it used to be”
He then shouted at me: “Get out ,you moron,you’re on my side”
So…no back for another 25 years!