When directors and creditors are one and the same

1069

Thanks to everyone who contributed questions for the Forum last night.  It was an open, frank and productive meeting.  Draft minutes will be distributed to attendees to be checked for accuracy before being formalised, after which the meeting’s outcomes will be made public through various outlets.

One thing which is evident, and goes largely unacknowledged, is the significant contribution made by Auldheid in building the channels needed for constructive dialogue between the club and supporters.  Well done, Pat.

I see Neil Lennon in the news being “flattered” after Norwich City chief exec, and former Celtic commercial director, David McNally, told the media he believed it only prudent he keeps an eye open for a new manager, should Chris Hughton ‘leave’.  Neil answered well, refused to comment on a job which is already filled, while setting a standard answer, suitable whether he was interested or not.  There is no point firmly denying interest in a job as a subsequent refusal to do so for a different position would leave too much information on the table.

McNally is right, it is only prudent you keep an eye on these things, but can you imagine how Hughton feels when reading this stuff, or what the resulting speculation will do to the club’s relegation chances?  There is now far too much information on the table now for Hughton to be effective.

A football manager needs authority and respect, Houghton has been denied both.  Norwich should do the decent thing and pay the man his contract before they sleepwalk into the lower leagues.

It’s funny how different people read the same thing in different ways.  An announcement that a club is in discussions with a couple of existing shareholders to borrow money to provide working capital is self-explanatory in most respects.

The announcement by Newco Rangers this morning establishes that the club needs a fresh injection of money to pay its bills.  We all knew this, but the sharp-eyed will also have noted that this loan will create the club’s two major creditors.  No bank will lend to Newco, their creditors will be limited to trade suppliers, HMRC and other football clubs, all pretty low values.  This £1.5m loan is likely to give the lenders sufficient control to vote through anything they desire, should administration occur.  The controlling directors and creditors will be one and the same.

Newco Rangers has been rag-dolled since its inception by various pressure groups within the broader family who seem determined to stamp on whatever green shoots of recovery exist.  What it really needs is the kind of strong leadership this directors-creditors group can provide, leaders who will do the right thing, take the necessary medicine and stand firm against the quislings.  While others tried to get the club for free, they paid their money, continue to do so, and deserve the chance to run their club as they see fit.  For what it’s worth I think the club and its current controllers are a perfect fit.  I hope they use their largest creditor status to protect their interests.

Congratulations to STV’s Peter Smith (aged 12 ½), who scooped the Royal Television Society’s Young Talent of the Year award, achieved partly because he was prepared and able to ask hard questions, when many of his elder peers would rather eat their own toe nails.  He’s still not uncovered that Dallas Cowboys email, so more work still to be done.

If you would like to read the new CQN Magazine, GO HERE to read properly, and for FREE, the graphic below is just a taster.
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  1. leftclicktic We are all Neil Lennon on

    starry plough is Neil Lennon

     

    Email soon sir, wee mhan keeping me busy

  2. Marrakesh Express on

    I jumped in last night and said that perhaps only Neuer would get into a current best World eleven from the Bayern team. After watching them again I stand corrected. So in answer to Robcfc I’ll have a go at mine.

     

     

    Neuer

     

     

    Alves Ramos Pique Lahm

     

     

    Xavi Iniesta Ribery

     

     

    Messi Ibrahimovic Ronaldo

     

     

    No EPL players youll notice.

  3. Wow there very quick with a response from my recently completed Survey ….

     

     

    they are very interested in my suggestion to employ a de-barred porn director/actor to handle all there Employees PAYE etc …

     

     

    they thanked me and added that it was the most constructive advice they have had to date ……

     

     

    Braw ………….everylittlehelpsCFC….

  4. LiviBhoy - God bless wee Oscar on

    traditionalist88

     

     

    He didn’t have to speak to palace. The deal was on the table a long time. he should have said No. Sat at Celtic on deadline day and signed the deal.

     

    The guy wasn;t staying. Wish him all the best but I want people that want to play for Celtic. He didn;t convince me and he doesn;t have anything to gain now but the undying love of a support he knows will be everywhere he goes the rest of his life.

     

    Joe made a bad move. Nobody forced him out the door.

     

     

    LB

  5. Len Brennan

     

    15:10 on

     

    20 February, 2014

     

    The thing I’m worried about is when thems go into administration will they be allowed to appoint their own administrators like the deid clumpany did?

     

     

    Oh wait, it’s Scotland.. of course they will!!

     

     

    HH

     

    /Bishop B

     

     

    usually a company going into voluntary have the chance to appoint their own administrator,unless a major creditor is contesting,like HMRC did with david murrays carcass of a Club,it failed as we know.

     

    I would suggest RIFC will appoint the administrator here as they are the new clubs biggest creditor.

     

    maybe there would be objection if it did happen on grounds of pheonixism/fraud,but like a lot in this farce it has a little way to go yet

  6. Fed up Philbhoy on

    I don’t mind Arsin Whinger whinging.

     

     

    I don’t like him much.

     

     

    Actually I don’t like him at all.

     

     

    I don’t care who beats arsenal.

     

     

    As long as thewy get beat.

  7. leftclicktic We are all Neil Lennon on

    Ps I’m gutted I never got an Email from Wallace after the pledges I made the last time they asked for help:))))

  8. Neustadt-Braw

     

     

    My answer to question 7

     

     

    7. What is the single most important issue to you right now as a Rangers Supporter that the Club can address?

     

     

    Answer

     

     

    Pay their bills….

  9. Would it be the case, the more who fill out their survey…..

     

     

    The more it will cost them ?

     

     

    Get filling it in bhoys >}

     

     

    Get it on facebook as well.

     

    HH

  10. LiviBhoy - God bless wee Oscar on

    Fed up Philbhoy

     

     

    Wenger is out of touch with the profession he is in now. He is too old. His principles don;t fit the modern game in England.

     

    I don;t dislike the guy. I think he is a cracking coach. Not great with the media but he is a good coach. I think international football would be a good fit for him.

     

    Not really bothered what any English team does. Nice to see them get beaten in Europe though.

     

     

    LB

  11. DontPatmadug @15:07 on 20 February, 2014

     

     

    “Sadly I have posted this before.”

     

     

     

    Still funny every time.

  12. leftclicktic We are all Neil Lennon on

    Thindimebhoy

     

     

     

    15:23 on 20 February, 2014

     

     

     

    Neustadt-Braw

     

     

    My answer to question 7

     

     

    7. What is the single most important issue to you right now as a Rangers Supporter that the Club can address?

     

     

    Answer

     

     

    Pay their bills….

     

    “Ghost hunters” :))

  13. As my late mum used to say:

     

     

    “Take that..!”

     

     

    …just before she slapped me on the erchie. Never on the face or the back of the heid ‘tho.

     

     

    HH!!

  14. eddieinkirkmichael on

    Brogan Rogan Trevino and Hogan supports Oscar Knox, MacKenzie Furniss and anyone else who fights Neuroblastoma

     

     

    15:04 on

     

     

    Sh@t I emailed someone telling them the virtual tics were £20, better get back to them. Thanks for clearing that up for me.

  15. My answer to question 7

     

     

    7. What is the single most important issue to you right now as a Rangers Supporter that the Club can address?

     

     

    Answer

     

     

    Admit that its a new club with NO history

     

     

    Hx2

  16. oh and don,t forget the spollindg mestooks and lick of Groomer….keepitHunlikeCFC

     

     

    Braw………………..

  17. Fed up Philbhoy on

    Was in Tesco’s yesterday and noticed they were selling a blended whisky, called Snow Grouse, for £13, the price sticker also said “discontinued line” or similar.

     

     

    It’s the worst whisky I’ve ever tasted!!!

     

     

    Worse even than the old Ledaig!

     

     

    It reminded me of the stuff my Mammy used to put in my cavities to stop the toothache.

     

     

    Was it cloves?

     

     

    I should take it bloody well back, so I should.

     

     

    13 quid down the drain for sure.

  18. An Tearmann

     

     

    Had a feeling that was the case mate!

     

     

    Those beggars must get repetitive strain doffing and donning their old clumpany, new clumpany hats.

     

     

    HH

     

    /Bishop B

  19. Fed up Philbhoy @15:29 on 20 February, 2014

     

     

    Don’t put it down the drain. After 3/4 bottle it’ll taste ok.

  20. I note that Phil is suggesting that the £1.5 m loan is to possibly cover Administartion costs.

     

    I posted some weeks ago (cant be bothered to find and re-post) that I could,nt see why any administrator would be interested as they would be unlikely to be paid out of net assets of the the deid club.

     

    Presume this money will ensure that they get the administrators they want .

     

    Still hope its actually a cash injection to see them thru to a time they can call upon ST monies for next season. Would much prefer then to go into administration then as the points deduction would be a major blow in the championship but not this season.

  21. thomthethim for Oscar OK on

    I feel sorry for all you concerned chaps who completed Frasier Wallace’s “I’m Listening” survey.

     

     

    I reckon that he will skim off some of the windfall, to buy the biggest dustbin on the market and dump all the responses into it.

     

     

    He will then trumpet the outcome, based on what he was going to do anyway and say it was the Voice of the Fans.

     

     

    After all the thought that you all put into trying to steer them in the right direction.Shame on them.

  22. GlassTwoThirdsFull on

    Gordon_J backing Neil Lennon 14:13 on 20 February, 2014

     

    So is there a link for this NewRFC fans’ survey? I fancy telling them a few things.

     

    Hot tip – If you are sending one in, be sure to include a few spelling and grammar mistakes so that they think it is genuine.

     

    ———————————————————————————

     

    And don’t forget to say what a good job Ally is doing……

  23. I was watching a review of the 97-98 season and was looking at how much Rangers spent on players and just in transfers alone amounted to more than £14m. That does not include wages of Jonas Thern, Gattuso or Vidmar. I beleive Thern was getting 40k a week. Celtic’s spend was £4.7m however they did sign Rieper, Brattbaak and Lambert later on that year for around £6m. I would love to know how much these players were putting through as their wages as it’s my firm belief that they were using a tax avoidance scheme back then as well. It would probably read something like this.

     

     

    Jonas Thern £18k

     

    Paul Lambert £20k

     

     

    Amoruso £12k

     

    Marc Rieper £15k

     

     

    Stensaas (remember him) £5k

     

    Mahe £5k

     

     

    Negri £12k

     

    Larsson £12k

     

     

    I am having a guess at some of these wages but they look about right for the time and this is without Porrini who cost £3.75m and Niemi who cost £.75m and how much the wages on these two would be on. In reality I would say you could possibly double most of the Rangers players wages as it would probably be more realistic. Remember Andy Goram was only getting a grand a week at this time.

     

    I don’t know if it’s possible now but I’d love to know if Sandy Bryson had any knowledge of their actual wages cos it wasn’t long afterwards where Tore Andre Flo and De Boer were caught using a tax avoidance scheme.

     

    How that man still holds a job in power at the SFA is beyond me.

     

    Is there any way players wages of that time could be made public or do you think Sandy would have the shredder going full pelt.

  24. Syd Negakev

     

     

    You’re coming up with those puns just for the halibut, aren’t you?

     

    ……………………………………………………..

     

    Holy shrimp ! This Scampi Happening !

     

    braw……………

  25. 7. What is the single most important issue to you right now as a Rangers Supporter that the Club can address?

     

     

    Answer

     

    Wheres craigy

  26. Declan Is Neil Lennon 1888 Hates being 2nd on

    North Of Tunis – hoo u talkin tae ya clowns pocket. am no a satirist. i hate any type of meet that ye get on a stick. i prefer goin for a curry anyway. that chineese stuff ripps the guts right oot me. no been able to git a curry for ages right enuff since big beano tried to rip aff wee mamood fae the curry shop. we were steamboats one tuesday lunchtime and beano foned from my gaff wanting a chiken doughpiazza. 10 minuts after the boy left beano fones mamood sayin there was sumthin that lookd like a scorpion in his dinner and big mamood was just back from the pakistan an he rekons he is at it. he loves watchin the rounders like aw they boys so he goes to pakistan awe the time like. beano said he wanted it free or he wiz tellin everyone. mamood new he wiz at it cos apairingly ye didnae get scorpions in pakistan. turns oot tho he was just doon at chester le road watching it and no actually in pakistan anyway. so big beano was well nabbed. mamood was ragin so he sent the big poppadom troll he keeps oot the bak from when the boys pile oot the boozer at last peckings tae boot his chuckies. big daft boy hung about outside for about 2 hours. had to tell the missus that the coonsil were back about the trampaline so she wouldnae cum hame. if she new the truth she would castigate the pair of us. that bam mamood put oot one of they thinwa things they boys do when they are pure ragin so i cannae get a curry fae anywhere within delivery range. had to tell the missus ave got a stumuck ulster so she doesnae find oot until mamood cams doon and calls off the horses. anyway rap it or i will get mamood to put a thinwa oot for you