I’m out most of today and anticipate any number of events, so here’s a synopsis to help keep the various balls in play to mind. Apologies for the enormous number of ‘ifs’ but there are so many imponderables:
It is still possible that the Green consortium will propose a CVA. If they do, creditors will vote on it in mid-June and Rangers will be included in the SPL fixtures for next season, which will be issued before a creditors’ vote. Green will need to come up with some cash to keep the CVA alive long enough to get to the creditor’s vote, this is likely to be his most immediate problem.
If he finds the money to last until mid-June and the CVA is accepted (it won’t be) Rangers will emerge from administration and take their place in the SPL next season.
If Green cannot find a backer to pay player wages and other costs until a CVA verdict is reached, Rangers will be liquidated this week.
Pop!
Once the decision has been taken not to pursue a CVA, whoever has control of the stadium can apply to the SPL to acquire the league share previously held by Rangers for entry into the league next season.
The SPL have asked Rangers to produce information relating to the alleged double contract issue in advance of the SPL general meeting tomorrow, hereafter known as Prima Facie Day. League and member clubs will officially know if Rangers have rigged the system for over a decade, or not, or if they have refused to comply with SPL instructions.
Right now there is at least a 50% chance that Duff and Phelps will not attend the meeting on Wednesday and ask the SPL to reconvene next week to give them more time to conduct an asset sale. Before the meeting, be it tomorrow or next week, Green, the Blue Knights, or an as-yet unnamed bidder, will make the best offer for the stadium and apply to the SPL to enter a Newco.
Neil Doncaster’s proposal will be discussed, as will any other suggested way forward and a vote will be taken.
While the alleged cheating may influence how some members vote, the disciplinary and Newco vote matters will take different paths. Any disciplinary action will go through due process (you know how litigious they are).
Celtic will vote against Newco. My best source reckons we are still outnumbered and that more lobbying is needed, but in all honesty, no one really knows how the vote will go. We’ll come back to the consequences of this point.
If the SPL vote against Newco the story is likely to go quiet for a number of months. At some point in the future someone is likely to apply to the Scottish Football League for a Newco, based at Ibrox, to enter the league. Alternatively, an existing SFL club may buy or rent Ibrox, change name and move there.
If the SPL vote to allow a Newco access to the league next season, it will be subject to sanctions already imposed on Rangers, like the ban on player registrations (assuming the entire project is not killed by the club being thrown out of football as a result of the Court of Session case). It will also be subject to any sanctions imposed due to the alleged cheating for over a decade.
Rangers currently have around 40 players registered. If the company goes into liquidation all players can leave as free agents. A Newco would be able to retain any players who didn’t want to leave, however, any player able to attract a competitive offer is likely to leave. TUPE laws require the new employer (Newco) to maintain pay and conditions of any staff transferring from Rangers who choose to join Newco.
If a Judicial Panel find Rangers subverted Scottish football for over a decade, any Newco awarded Rangers SPL share would be liable for Rangers punishment. This may well be expulsion from the SFA. There is no set timescale for such hearings although the SFA have a new and faster process.
To summarise the (known) unknowns:
Charles Green doesn’t know if creditors will accept a CVA and will need to pay to find out. He doesn’t know how the SPL will vote or what punishment a Judicial Panel would impose if Rangers are found to have cheated.
The SPL still don’t know if they will have an application to consider, and if they do, who it will come from. They also don’t know how a Judicial Panel will punish Rangers or a Newco.
The SFA know nothing, apart, perhaps, from what school their staff went to.
Craig Whyte, Charles Green and his investors, the Blue Knights, Rangers management, players, staff and fans don’t know if there will be any football team playing at Ibrox again.
None of them know the most intriguing question of all, what is the next thing to arrive from left field (unknown, unknowns)? No one believes the story is at an end.
So what about Celtic?
A future within Scotland is no longer tenable, no matter what happens. Rangers are a busted flush. They are either dead, fatally wounded or completely trashed. The SPL is, to put it mildly, flawed. We have outgrown the game here socially, morally and economically. Scottish football holds nothing for us apart from straightforward access to the Champions League. The possible vote and on-going inquiries will change nothing in this respect.
Celtic will have a future but it must be beyond Scotland. It’s time to find another league and move.
574 Comments- Pages:
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ASonOfDan on 29 May, 2012 at 10:33 said:
I have maintianed from day one it was an adminsitration instructed to fail.
Right now Craigy Bhoy only has his £1 back. He needs liquidation and the assets to be sold to make any decent money.
___________________
Hear, Hear m8 :)))
Hail Hail
Modern football .
Deep in debt Chelsea ——–[ funded by a kleptocrat ]
Sign Eden Hazard for £ 35.3 million.
Chelsea agree to pay Eden Hazard £ 4. 6 million { net ] a year . Assume that means that Hazzard will cost Chelsea @ £ 9 million a year…
Amount paid to Hazzard’s agent ——– £ 6 MILLION
ASonOfDan,
Agreed. They see the Newco route as a way to ditch the debt, get into the SPL and then make cash.
Hamiltontim
I worry also.
Support Celtic usually involves winning a large percentage of games, scoring goals and more often than not winning trophies.
If we become a midtable premiership type team a lot of this is lost.
That said, I think we will rot in Scotland.
And besides Scotland doesn’t deserve Celtic.
Why is Rangers’ debt said, by the Jabba, to be toxic? They ran it up in the traditional manner of Thatcherite barra boys with posh accents, that is pretending to banks and others that they were a surefire safe investment. This was a lie, but it’s not ‘toxic’ money.
The only way for them to ‘cleanse’ themselves of this debt would be to pay the money back. Not paying it back, but finding a way to continue by sleight of hand is not a cleansing action. It’s like turning up for a wedding with snotters all down your jacket sleeve.
Paul67, I asked last week and ask again, although you may have replied I possibly missed it: you posed the question a while back asking why would a company pay a former employee £500k a good while after he had left their employment?
Given Barcabhoy’s post this morning, are the BBC missing £470k from their figures?
Or are you not allowed to say?
Apologies in advance if you answered this last week.
Who is Eden Hazard and what position does she play?
South Of Tunis on 29 May, 2012 at 10:36 said:
The EPL fairness for all………………………………………..
It takes financial doping on a grand scale to win in the EPL
Then of course players EBT’S
Man City 149 million pound loss in a season
Man city and Chelski 1 billion pounds spent by their owners
The Hutton to Spurs sale a few years ago seemed strange also, as many of us believed he was not worth anything like the sort of money he went for.
At the time, the then Tottenham boss (Juande Ramos) when asked about the possible signing, seemed totally unaware that the club had made a bd for him. “Who is Hutton” said Ramos, with the Tottenham Sporting Director, Damien Comolli, being suspected – by some – of being behind the transfer.
Mmm……..
Dirtymac, I think Paul is away for most of the day.
Also, would you be so kind as to point me in the direction of Barcabhoy’s post. Ta
C04
I reckon the junior league would be good . Shettleson would be a great derby ! + cheap beer
Details of the above comments can be found here
http://soccernet.espn.go.com/columns/story?id=495911&root=england&lpos=spotlight&lid=tab1pos1&cc=5739
C1st -Eden Hazard is a midfielder who has contributed much to the recent success of Lille. Unfortunately it looks like les Dogues are going to lose their best players to the snotter-sleeved richesse of the EPL.
DBBIA
You mean it’s a bloke?
Mind you Damien has not got the best of records when it comes to spotting talent
On Comolli’s watch, Liverpool signed nine players for a grand total of £115.8m and none of them — Luis Suarez included — can be deemed a total success.
Eden Hazard has 2 brothers, Moral and Tripping
Quite a good move, though. Eden can just commute from Lille on the Eurostar and continue to enjoy the excellent quality of life that that beautiful city affords.
C1st – un jeune homme, as far as I’m aware, yes. Born 07/01/91, and 1.72365489m tall, approx.
corrib04 is Neil Lennon on 29 May, 2012 at 10:46 said:
Dirtymac, I think Paul is away for most of the day.
Also, would you be so kind as to point me in the direction of Barcabhoy’s post. Ta
C04
+++++
Clickety Click
No wonder Chelsea won out.
Manchester United would have meant hoofing it along Euston Road every morning and changing onto a Virgin service to Piccadilly and heading north via Nuneaton and Stoke. And God help young Eden if there happened to be signal improvement work at Stockport.
Today’s delivery from Amazon: The Very Best of Buddy Holly. Young Mr Holly’s influence is underestimated. Without him we wouldn’t have had Hank Marvin or any other speccy blokes with Stratocasters… and then where would we have been?
Relevance to Celtic: nil.
celticinthesun on 29 May, 2012 at 10:41 said:
It’s not actually that that bothers me. If Celtic were to end up mid table in the EPL or elsewhere, with little or no prospect of silverware, that wouldn’t affect my attendance I would still be there week in and week out, finances etc permitting.
I can’t quite put my finger on it and as I said I’m probably just being daft but the feeling is still there. Possibly it’s that Scotland and Scottish football will have lost the one really great thing that it has.
To all the RFCia sympathisers out there:
Tell me, if you had 1000 pounds in your pocket and someone comes along and picks it, then later, the police catch the culprit who then offers to pay you 50p back, what would you say?
Mmmm. Makes you think huh?
Re the boul’ Hutton……
It should be remembered that every tabloid report on the colourful character was tagged with the phrase 9m……….all of them, not just the usual suspects chirruped the magic number until the mantra became fact….FACT.
This all the while any of Celtisc best prospects / assets were apparently available for 2 – 3 m.
Ad nauseum.
Smells a bit.
Pantaloon Duck
Yes, Buddy was wonderful. An amazing career in such a short time.
Paul 67
The SFA know nothing, apart, perhaps, from what school their staff went to.
Priceless! Are you trying to reopen the schools debate?
Hamiltontim
I see where you are coming from and have my reservations also.
But I think this would just be another step on the journey. In 50 years time when somebody is writing another chapter in the ‘History of Celtic’ books, they will tell the story behind Celtic moving on from Scottish football and the reasons for doing so.
Walfrid seen and seized an opportunity for an honourable purpose. If the opportunity is there for the club to develop further then why not?
I’m not convinced it will happen in any case.
Emilio Izaguirre was voted man of the match in an online poll despite Honduras losing 1-0 to New Zealand.
It was the first international appearance for the Celtic favourite in over a year after a groin strain ruled him out of last summer’s Gold Cup.
On Saturday Honduras move on to Washington DC where they will meet El Salvador in their final warm-up match before World Cup qualifiers against Panama and Canada.
Izaguirre’s impressive performance is bound to increase pressure for him to be included in the Olympic squad which will be playing at the same time as Celtic’s Champions League qualifiers begin.
The defeat to New Zealand was a big blow to the confidence of the Hondurans who impressed in the last World Cup.
New Zealand included former Celt Michael McGlinchey in their squad with coach Ricki Herbert delighted with his side’s victory.
“As an ex All White I’m really proud to see the depth and quality of the players coming through,” the coach said.
“I’m pleased we’ve been given the chance to blood them at this level of international football.
“They’ve worked hard, trained really well and they took everything on to the pitch. The discipline and organisation tonight by them was terrific.
“Tommy Smith has done a great job leading that side and I thought Ivan Vicelich with the wealth of experience and true professionalism he brings was very good tonight. Around that now we have some really good energy and pace.”
Chris Killen will join up with the All Whites squad in the Solomon Islands for the Oceania Nations Cup from June 1-10.
Just listened to the BBC podcast featuring Chick Young and BBC’s Mark Daly!!!
Have to say that i am totally embarrassed by Chick Young’s comments regarding the whole Rangers scenario,,,St Mirren fan indeed eh????
Hail hail
Paul67
Paul,thought provoking………even for me.
I’d much rather we helped clean up Scottish football and stayed here. Isn’t getting out just running away from the bully? We have to stand up to these ‘peepil’ and tell them we’re here to stay.
Paul67…
“We have outgrown the game here socially, morally and economically.”
That’s it in a nutshell ……. In trying to destroy Celtic over many years, the football establishment, including the LL have, basically, destroyed Scottish Football ………. You backed a ‘loser’ in rankers, lads, and I hope you are all proud of yourselves …….couldn’t happen to a nicer bunch
HAIL HAIL TO THE GHOOD GHUYS…..Fergus, Brian, Dermott…take a bow
You resisted getting our proud club into this sort of mess, since you obviously knew where it was all heading ………PROUD TO BE A SUPPORTER OF THE BEST CLUB IN THE WORLD
kingoh
As I said I’m probably being short sighted and your analysis would be accurate, it would just be another step in the journey of our club.
I know that we are not, and nor should we be, the moral compass or guardian for Scottish football but I would have a sense of failure and that’s in spite of the manner in which we have been treated in this country for decades.
I know that we should take the first stage out of town but….
When you see the whole scandal written down like that you realise how dignified/messy (delete as appropriate) this really is!!
One point though. If SPL sanctions would be transferred with the SPL share from the Old Huns to the New Huns, say New Huns go to the SFL why would the same sanctions not be transferred to Dunfermline, Dundee or whoever takes their place in the SPL? Effectively the sanctions are attached the share. That would be ridiculous.
I’ve never seen how an entirely new company can be held accountable for the past deeds of an old company in the same way that the new company cannot be held liable for the debts of the old company. I reckon you could successfully have those sanctions overturned in court.
Could Donacaster be saying that sanctions would transfer over knowing full well that there is no legal way to enforce that therfore meaning New Huns could re-enter the SPL sanction (and debt) free after a simple visit to court (the probably have a loyalty card already)?
I don’t think Doncaster is as stupid as he sounds or looks. We need to keep the pressure on.
Hail Hail
Tombola
gorbalstam on 29 May, 2012 at 11:10 said:
I’d much rather we helped clean up Scottish football and stayed here. Isn’t getting out just running away from the bully? We have to stand up to these ‘peepil’ and tell them we’re here to stay.
_______________________________
Brilliant.
“For 125 years we’ve fought you without fear and, we’ll fight you for 125 more!” :)))
Hail Hail
hamiltontim on 29 May, 2012 at 10:59 said:
”Possibly it’s that Scotland and Scottish football will have lost the one really great thing that it has.”
IF it happens then Scottish football will have only itself to blame.
The Pantaloon Duck on 29 May, 2012 at 10:59 said:
Today’s delivery from Amazon: The Very Best of Buddy Holly. Young Mr Holly’s influence is underestimated. Without him we wouldn’t have had Hank Marvin or any other speccy blokes with Stratocasters… and then where would we have been?
Relevance to Celtic: nil.
……………..
Actually thats not 100% correct
Buddy Holly was probably the biggest influence on Paul McCartney, who along with a few pals became The Beatles. The Beatles (stay with me) sucess resulted in a rush to find the next big Liverpudlian band to try and recreate their success. Gerry and the Pacemakers were the biggest beneficiaries of this search. The Song How do you do it? which was recorded by the Beatles, but they decided against it and it was then passed to The Pacemakers who issued it as their first single, the success of this single (a No1 hit) was such that their next 2 singles also topped the charts – I like it and You’ll never walk alone, which has became a huge part of Celtics past, present and future history!!
Where was I? Oh aye, so Buddy Holly has relevance to Celtic from a certain point of view!!!
:-)
“celticinthesun on 29 May, 2012 at 10:41 said:
Hamiltontim
I worry also.
Support Celtic usually involves winning a large percentage of games, scoring goals and more often than not winning trophies.”
You werent around much in the 90s then were you?
That’s not what supporting celtic is about, that’s the bonus of supporting celtic (at the present time)