There are two questions to look out for when The Rangers provide information on their public offering share issue:
Are the public being offered shares at the same price as investors who sign up prior to the public offering?
In 1994 Fergus McCann offered you shares in Celtic at exactly the same price he paid, giving fans the same value as the consortium which acquired the club from the old board. Will Charles Green do the same? A £20m offering will dwarf the existing share pool but, if the new shares are worth a lot less, the existing shareholders will be able to retain control and the majority of benefits.
How will the prospectus explain to investors the potential consequences of the SPL Commission, and any future investigation if the First Tier Tribunal report, due this month, finds that Rangers did not pay their social taxes as Fifa regulations require?
The SPL Commission into the improper registration of players at Rangers, whose SFA membership the new company acquired, will, if Rangers are found guilty, impose sporting and financial penalties on the successor club which is benefiting from its membership.
If guilty, this will involve the return of prize money for each of the 12 years which are under scrutiny. The league awards prize money to each member club from TV income with the top two clubs earning a significant slice. This alone could consume the majority of funds from the share issue.
Sporting penalties would also be a consequence of a guilty verdict. There is no reference point in world football for issues on this scale, so speculation on what the penalties would be can only be regarded as such, but, if The Rangers eventually win promotion to the SPL, they are likely to face points deductions for multiple years, making it difficult to gain access to lucrative Champions League revenue streams.
The latter question will considerably influence when the new company can hope to break even and allow an informed estimate to be placed on the scale of working capital requirement.
Former directors of Rangers, including Sir David Murray, remain confident HMRC will not succeed at the First Tier Tribunal, but the possibility remains that the verdict will go against the soon-to-be-liquidated club, leading to a fresh wave of football penalties.
The Rangers should now issue potential investors with enough information to decide if this week’s Forbes Magazine article questioning the club’s feasibility is accurate. It should be quite a read.
Although the Sevco consortium promised a share issue since before they bought the assets of Rangers today’s announcement has the appearance of something carried out in haste. The domain name for investors to register interest (www.rangersshareoffer.com) was only registered yesterday and there is no web site yet. Visitors are presented with an alert from their browser informing them that the web site they are visiting has a problem with its security certificate.
Why the hurry?
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Charles Green is not funny, he is like a child
playing with a box of matches.
HAPPY LIQUIDATION DAY
should be a holiday.
AT’s blog is an affront to Scotland, how many have been charged and brought to court on account of the threats and intimidation, Macaskill is absent why is he not asked questions on this by AT if he wont give an interview on this we should be told, this smacks of the constant thousands of their support singing what they want wherever they go, when I asked the club I was sent a copy of stadium regulations, in effect mob rule, with the law seemingly standing aside and letting it continue, no wonder football authorities act as they do.
It makes me all the more angry about the statement from DD on their size history etc and how they are needed.
CG
“I want to play in the top league [but don’t assume that] will always be the SPL,” he said. “The SPL threw us out the league. They then stole our money that was due for last year [in prize pot and centralised revenues that were due to oldco Rangers] and are pursuing us to strip titles.
We all remember a past president of the SFA attack Celtic
President George Peat pleaded this week that innuendo and inference must cease.
He didn’t say who he was talking about, although the world knew that it was Celtic.
All to sadly the cowards who run the SPL will let the slander and slur against the SPL by Green go unchallenged, Doncaster at the very least should be on the attack today warning Green enough is enough and the SPL will now pursue him for slander in the courts as well as through the footballing authorities for bringing the game into disrepute
Can his claim that the SPL stole money be substantiated? in effect he is calling the SPL thieves…………………………….. no innuendo or inference
Over to you Doncaster and Regan…………………do you have the Cojones
‘The day Fife police passed on credible information from the Strathclyde force that two men has been paid to burn down Raith’s stadium is a day Mr Turnbull and Raith Rovers will remember.’
And some posters on here seriously want this country to be independent and give these people free reign?
Horrible, horrible wee stinkin, bigoted country…
@Vandalgrease: @celticrumours Newco Rangers propaganda machine exposed on @ClydeSSB https://t.co/jD62PRlC ???
ASonOfDan
09:43 on
12 October, 2012
We are talking about football and its governing bodies
We will condemn the whole of France for the cheating on the Tour de France
Keep it in perspective
“The SPL threw us out the league. They then stole our money . . . .”
Surely the SPL have to take them on for publicly stating that the SPL are thieves?
MWD –
Aye, Turriff, or Turra is where I park my bum of an evening!
Ulryc
Happy liquidation day everyone!
Thanks for the info on those registering interest in the sevco share issue last night. PMSL.
TGSC,
Sailing On….
Phil Mac Giolla Bhain’s blog a few days back …….
This conference instructs the NEC to work with the SEC to examine organising a training programme for NUJ members in Scotland to heighten their awareness of anti-Irish and other forms of racism amongst Scottish football supporters.
http://www.philmacgiollabhain.ie/nuj-motion-about-the-targeting-of-journalists/
As it is supposedly Liquidation day, I took the opportunity to look up the powers of Liquidators.
http://www.odce.ie/GetAttachment.aspx?id=8c46d853-FIFA-43f9-baf1
And came across this;
POWERS
In general Liquidators can
: Sell any Company propert.
: Process all necessary documents on the Company’s behalf.
: Mortgage the Companies assets and
:Appointagents to do any work that liquidators cannot do.
Liquidators can also seek High Court orders to have Company Directors examined, have property returned to the Company and take other measures to assist the liquidation.
They can also cancel loss making contracts.
I just love that last sentence given that Charlie boy can purchase MP and Ipox for £5.5m and then within a couple of months it is worth. C £30m
if today is the day that the institution of rangers fc finally dies then i have a great idea….i live very near scarborough and i know where there is a headstone stating ‘IT WAS GOOD WHILE IT LASTED’ going for free………………..
So Green still says the Zombies won’t play in the SPL? But that after reconstruction the top league might be something different.
Here we go – it’s not the SPL it’s the new SPL.
You read A.T’s blog and wonder why Chunky is still stoking the fires. Him and his wee divil dug, Sally, are an odious and dangerous pair. Laughable, but menacing. Probably arrestable, but given where they do their so-called jobs, they operate with impunity. Nasty, bigoted, greedy,masonic. Sinister and dark. Rotten to the core.
Green is playing a blinder currying favour with the stupid Huns
The Huns I come round to thinking they’re the victim …he is seen to be standing up for them against the authorities
” no one likes us we don’t care …..but we’ve got Charlie on our side ”
Sadly , for them , it’s all part of the elaborate ruse ….the media are complicit in this …this guy should be regularly called out for the preposterous statements he makes…instead they are almost hanging on his every ridiculous comment
Hopefully he will spell the end of the Huns and the complicit media ….if he manages that he could unwittingly become a CFC fans hero …..and all with the name of Green ….comedy gold
lionroars67
09:43 on 12 October, 2012
Neil Lennon was slated last year from the media and told to calm down yet Chuck can say what he likes and gets off scot free.
Q. If Chuck Green was from Larkhall would he have to change his name to Blue or Orange??
There needs to be some momemtum of support by the intimidated based on A Thomson’s latest blog. Without that it will be one more brick bouncing off a shameless arrogant hide.
One way of tackling the issue is to
a) recognise there is one.
b) summon the Rangers Board in front of the SFA (backed by the Scottish Government) and tell them that unless they take steps to remove their mob element (they will know who they are) that can be verified The Rangers will not be allowed promotion.
c) recognise that the loss of the bigot pound will come at a cost to The Rangers and offer financial compensation if their plans are seen to be working.
Carrot and stick. The compensation, like all public money spent, is the price we pay for living in a civil society where the law and not the mob rules.
Given the mob’s opposition to the break up of the Union the SNP have nothing to fear from tackling the issue since the mob are against independence.
Curly
I knew that would smoke you oot.
Just checking your still with us after thee ole single car car crash up in ole Turriff. I’m probably giving you the benefit of the doubt when the STV report said something about a 44 yr old man having to be cut from a car and taken to hospital.
Just checking anyways.
MWD
Ernie
Yip. Reassuring to see some well warranted scepticism. Perhaps Chuckles has reined in the PR budget, and spend is focussed exclusively on red tops?
For all the bluster from Green, we’ve yet to see his business model, and that will go a long way to indicating how much is needed to cover cash in the coming 3 years, and how much might be left for the investment projects he’s drawn up.
Moreover, there has yet to be an adequate, indeed any, description of an exit for the original Sevco investors, something that remains a source of vexation for a number of journos who support the club, and might in part explain the reticence to lap up the new lamb.
Surely Alex Thompsons blog should be having Alex Salmond calling for a summit meeting of all parties. Because this must all be Neil Lennon’s fault.
MWD
lionroars67
We are talking about the majority of Scottish Society.
Guy sits in the witness box and says “Aye I skelped Neil Lennon” TV pictures show it happening. Jury return a Not Proven.
A guy sits and admits to him and his mate making bombs and posting them. Jury returns a MAJORITY verdict. Someone in the room tried to get them off.
You step out of line in this Proddy wee country, we pay people to burn you. We threaten you at every turn, we find out where you live and where your son attends University.
One Nation, NO place for us…
Morning CQNer’s
Brilliant stuff from Alex Thompson but
would AT have compiled such a blog
today if he had to live up here amongst
the peepil ?
I know all about the LL’s ass-licking
Rankers pornography dished-up as
sports news. But, the demography
of this nice little country of ours dictates
that we – The Timmites will always be
the social interlopers of this country.
Underdogs we will always be and thats
what fires us imo. Always striking a blow
for the ethnic community ie: US !!!
I wouldn’t have it any other way.
Off oot
God Bless
Hail Hail
laters….
Interesting wee snippet…
Falkirk have been fined £11,500 for failing to pay tax bills on time. (Daily Mail)
dessybhoy
09:40 on
12 October, 2012
Think DD was playing the old “for he is an honourable man” card, anxious to contine to protect Celtic from being dragged into the ‘war’ of words the media so anxiously seek ……. As you will have noticed, the media fleeced over it……job done ……..don’t give the enemy ammunition……..good post, incidentally….!!
Away to find Thomo’s blog ……….oh, happy LIQUIDATION day…!!!!
dontbrattbakkinanger
08:20 on 12 October, 2012
Whither the cash strapped scrofulous hillbillies the day?
I have come to luv that post …..LOL
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estorilbhoy
08:22 on 12 October, 2012
Greengo has obviously ‘lost the plot’ ……. And that is a welcome development …….!!!!!
Does anyone have any links to an Esteemed internet bampot called PAUL67 being interviewed on radio ????
Last week I listened to Tommy the taxi driver interview Campbell OG on the radio and kept thinking I have heard him before.
A week later without reviewing Tommy tape it dawned on me
PAUL67.
Has anyone seen Campbell OG and PAUL67 in the same room ?
“If there are two divisions of 18 clubs, how could Rangers not be a part of that?”
Rapid Vienna Chuck, Rapid Vienna…
ASonOfDan,
As long as they are in the lower division …
I’m surprised they don’t want one big division. Mind you they would need to play Stirling and the like then.
67heaven … i am neil lennon..!!.. ibrox belongs to the creditors
10:19 on
12 October, 2012
Agreed i wasn’t happy with DD the other day with his comments but i was wrong and i apoligise for that.
The lamb munchers tried to drag us into the debate with the tax dodgers and I’m glad DD didn’t take the bait.
Happy liquidation day my friends!
Meeting time, but I shall return.
Last year our manager was slated by the MSM, SFA,SPL and he was told to reign it in by Spiers yet Chuckles can say what he likes and not 1 peep from the lamb munchers.
‘c) recognise that the loss of the bigot pound will come at a cost to The Rangers and offer financial compensation if their plans are seen to be working.’
==
=====
Auldheid, in a generous mood this morning?! How about the police do their jobs and if they demonstrate why they can’t, increase their resources allowing them to arrest people singing sectarian songs then we’ll see how many of them are left.
There should be no cash prize for weeding out their morons. The crooks that tend to run ‘Rangers’ will simply decide what will make them more money in the long run, and that won’t involve banning people en masse.
HH
“I am going to stop Ally and the players speaking to the press. We want to put that on to Rangers media.”
Mr Green floated the idea of a £2-a-minute phone line for questions to be put to the manager.
Meanwhile, Rangers’ wage bill will be capped at around 30% of revenues. Mr Stockbridge said this is half the level of Celtic’s
LOL!! Can you imagine Fat Sally on the Sevco hot-line every day talking to every nugget that phones up!
I wonder how Jabba feels today knowing Chuck has shafted him?
I dont think the zombies will tolerate Celtic being able to offer better wages then them.
ASonOfDan
10:15 on
12 October, 2012
You speak for the majority
You have delusions of grandeur
I don’t recognise your description of the majority in Scotland
You want to keep living in a union in which power is given to the elite of the public schools fair enough!………………… they call it a democracy?
Lets leave the politics
Concentrate on wee oscar, god bless
Scrutinise CG and his dastardly schemes
Auldheid
Without the bigots there would be precious little of them
They know it , the media know too
That’s why they perpetuate this myth about their support ….we and the rest of football know they are scum
The Scottish media need the scum because decent fans have no interest in them ….
For CG and the followers of Sevco
Dalai Lama@DalaiLama
Peace isn’t the mere absence of violence; peace must come from inner peace. And inner peace comes from taking others’ interests into account
Off oot now
Come on Oscar