I don’t know anything about Bill Miller’s connections, neither does anyone else apparently, but we can be sure of one of two things.
Miller’s convoluted proposal is wholly dependent of him working in concert with Craig Whyte. As owner of Rangers Football Club PLC, Whyte would stand to be an equity partner in the newly merged company (Miller has made no offer for his shares).
This option would not be possible unless Whyte and Miller are working together.
Miller’s proposal blows a whole the size of Ibrox through the notion that Rangers recent legislative troubles were all down to Craig Whyte who would soon no longer be part of the club. He is an integral part of the advertised strategy (no matter how unlikely you reckon that strategy is to play out).
The SFA Judicial Appeals Panel must not be intimidated into thinking otherwise.
If Miller has taken a genuine punt (figuratively speaking, I hear he declined to pay the exclusivity bond) without doing a deal with Whyte, his advances will be rejected and Whyte will no doubt take legal action in the coming days to further protect his assets – you don’t think moving the floating charge to a different offshore company last month was to boost Caribbean tourism do you?
In this case, Duff and Phelps would be unable to conclude a deal to sell Rangers and would have to prepare for this scenario soon. I reckon there is at least a 50% chance this will be the case.
More later, time permitting, ahead of the CSA Rally tonight!!
You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.
The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.
301 Comments- Pages:
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Mort
how did the Old Firm ticket exchange work for the last game at CP ?
Hail Hail
Che @ 1500..
Save him the trouble…
TKF Predictor
HH
TC45
I think if the bored of Celtic PLC are acting on the short term benefit of its major stakeholders and not the wishes of its fans by either supporting Newco in the SPL or doing so implicitly by abstaining/doing nothing they are making a big mistake. So far I know nothing of their current modus operandi. I view it in 3 stages since the donut and more explicitly since PL took over:
1. What are the huns doing? invest accordingly.
2. Since “thems” left this sketch for a pound…do nothing and wait and see.
Since Administration…do nothing and wait and see.
3. Next Step:
a) “support/abstain/vote no” Newco in the SPL
b) “support/abstain/vote no Newco” in Div 3
c) Lawsuit..sue the SPL/SFA/Newco for complicity in these crimes and obliterate the whole structure as these crimes have been committed explicitly to the detriment of Celtic.
d) something else? any ideas?
Is there any vision at all? I dont know. Maybe liquidation will be the end of them hopefully and we all move on but this I doubt. However, it is going to be interesting.
If Celtic PLC waste this opportunity or encourage Newco in any way even by omission then Celtic deserve whatever hun hand they are dealt and I and thousands of others wont be participating any more.
James Forrest
We find out when the next set of SPL Fixtures comes out
If Celtic are playing against a Hun Newco then we are Old firm and have always been and always will be Old Firm.
We will have to wait 40 days and 40 nights.
Very biblical … very apt
Hail Hail
Homeward bound.
What is the past participle of Hang Glide?
Sir Paul
Hey.. Listen up.. Everybuddy else, but . YOU .. kiddo!
YOU,kin Cover the Eyes..and No read this..
Fur Ah hiv a Beef.. and whit Ma
Beef is..
Soitenly, disnae Apply tae YOU!
The Rest of yous.. Eyes doon… Look In..
Ah Am fed up tae Here and Here . and Aye. Here,tae!
Wi ‘ this…
Ah dinnae want tae Read Oan Here, ANYBUDDY..
Using .. the Appellation.. of … “SIR”.
Preceeding… the name o’… MURRAY!
Fur ,he is a Rascal. A Vagabundo.. a Rogue.. and He hates Dugs!
O.K,?
He is No a NOBLE Personage. he is an IGNOBLE Wan..
Get that? Got That?… Good!
Kojo
Still , Laughin’
Awe_Naw at 15:32:
Nonsense … anything between Celtic and Rangers are footballing debts and therefore come under the auspices of UEFA
Maybe so but the club still couldn’t issue a winding up petition in UK courts to get Rangers Plc liquidated as administration protects the company.
Not sure what UEFA can do. Can we ask them to intervene?
Mort
Ok lhads and Lhassies
Til Laters
Hail Hail
Awe_Naw
No idea on the specifics but as D&P are administrators, any contracts entered into on behalf of the company (Rangers PLC IA) D&P are personally liable for so the money will be paid either by Rangers PLC IA or by D&P.
Mort
Mort
Can we ask them to intervene?
Of course we can.
What about the tickets question …. how was that organised ?
Anyway til laters
Hail Hail
The Pantaloon Duck on 4 May, 2012 at 15:07 said:
Ahh, Juarez!! yes , agreed does not suit the scottish game and looks a bit highly strung. On Ki, I agree he has not showed-up that well this season, his problem seems to be when we lose possession, hos attempts to get it back are pretty puny, although I have noticed some modest improvement in that regard. I believe another year (playing with less pressure) will improve Ki and he will come on physically and can be sold for a higher fee furtehr down the line.
Kayal is a whole hearted player (bit of a badge kisser) , however his injury record for the money we are paying him is just not good enough. He does thow himself into stupid tackles and get injured and my money is on next season the same thing happening again, despite what the coaches tell him.
Happy problem though!
Slackdayattheofficecfc
Awe_Naw
Nice chatting to you as usual. Enjoy your weekend.
Mort
bournesouprecipe
hang glided
as in ‘I have walked, but never hang glided through a storm’
Maybe Mr. Doncaster could tell us what’s changed since he wrote this in March?
Financial Fair Play
Football and finance have often sat uneasily together. But with some of our clubs under intense financial pressure, it is no surprise that questions about ‘financial fair play’ have once again been raised in the context of Scottish football.
Crucial to an understanding of financial fair play, is an appreciation of why it is vital that clubs live within their means. This blog is an attempt to set out what is meant by ‘financial fair play’, and why prompt payment of players, the taxman and other member clubs is so important to football as a whole.
‘Financial fair play’ is a phrase that is often trotted out in football circles. It was one of 11 key values presented by UEFA President Michel Platini to the 2009 UEFA Congress. Its stated aim was to “restore well-being to the European club game”.
But what does ‘financial fair play’ really mean? UEFA’s explanation, in 2010, was that the concept would require clubs to balance their books over the medium term, not spend more than they earn, and operate within their financial means.
This is all seen as important for one key reason: because any club that is spending more on players than they can afford, is automatically gaining a sporting advantage over every other club it competes with. Whether the precise system of measurement used by UEFA is perfect is a moot point. But the logic behind the principle however is, I think, broadly sound. And it is this same principle that explains the position of the SPL.
To turn a blind eye, to allow clubs to continually fail to make prompt payments as they fall due, would be to allow those clubs to gain an unfair sporting advantage over all those other clubs that pay their players, the taxman and other clubs on time. That is one of the reasons why, whenever the SPL receives a request from players to adjudicate on their contracts, it has a duty to do so.
The fundamental basis of any football league is that all member clubs are treated equally. But, increasingly, leagues across the world are going further. In England, for example, the Football League routinely imposes a player embargo on clubs who fail to pay their players in full and on time. And, in League Two, clubs have accepted limits on the amounts that they can spend, relative to their income.
The whole issue of ‘financial fair play’ will no doubt continue to be developed across the whole of football. In the meantime, it is vital that the Scottish Premier League continue to treat all member clubs even-handedly.
It may put the SPL in the uncomfortable position of having to rule against member clubs in certain instances. Whenever we are requested by professional players to adjudicate on their contracts, for example, we should continue to do so. And, where appropriate, to rule in the players’ favour and to make orders for on-time payment by our member clubs.
The integrity of the entire League – and the long-term interests of all 12 member clubs within it – demands that we do just that.
More widely though, it is important that we keep the whole issue of financial fair play firmly in the spotlight. Improving our rule book and making it less likely that our member clubs end up in financial difficulty in the first place should continue to be a priority. And with this in mind, all 12 SPL member clubs will meet this Monday. On the agenda will be our existing rules on financial fair play and whether our current rule book needs improvement in the face of the financial challenges being faced by several member clubs.
If agreement in principle is reached, this could mean our clubs voting on new, tougher, rules on financial fair play at a general meeting, either in April or July this year. It will be a difficult debate. But it is vital that we do not shy away from these issues or bury our heads in the sand.
It may be uncomfortable to address these thorny problems head-on. But the long-term health and prosperity of Scottish football demands that we do just that.
Neil Doncaster
Chief Executive, Scottish Premier League
Mort,
I sit corrected, I am taking it the most relevant rule is 14. 11
But also notice that a general meeting is required, I also note they have disguarded the requirement for a general meeting and decided this only refers a general board meeting which is not what is written, and there my friend is where they are parting with the procedures.
up_over
Seriously – thanks.
BTW
Allegedly ole Billy Miller used to be a code breaker for the Army?
That should come in handy if he ever gets his lamps on the Ragers accounts.
Serious Questions…
But Doubt if anybody knows.
On the proposed RFCia asset sale to Bill Miller, are the players included?
If not does anybody know what deal is with regards wage reduction/transfer fee reduction, it strikes me that there could be circa £5M to come in when the transfer window opens?
travelled up from england for last night’s game.LYNCHS first for a few drinks and met 3 great CELTIC bhoys.great craik so thanks to GLASGOW JAMES and BRIAN and SEAN from COATBRIG.CELTIC PARK was brill and the TAI TIMS just blew me away.i think this is the finest hour in CELTIC’S history.to bring all those kids half way round the world must be a world first ,i think BROTHER WALFRID would be very proud..PENNY DINNERS INDEED.
Send Doncaster to Coventry CSC
My son just told me of a statement from UEFA suggesting they will not provide a license for teams who use back door shenaigans to avoid paying their debts- is it true?
Platini CSC
I hang glided
You hang glided
He/she hand glided
We hang glided
You hang dlided
The bhoy Bangura done hang glided, off the ole Gazebo.
Stairheedrammy
Yes but it doesn’t stop the SFA or SPL from giving them a free pass domestically.
Does this whole Newco/Oldco thing not remind you of the Kraft/Cadbury buyout.
They promised to keep the factory open aftere take over! What’s the first thing they do, claim that it isn’t affordable so they shut the oldco factory down. Much angst, but the deed is done!
Paul et al….
‘Football debts’. In an effort to curry further favour, rangers seem to be keen to pay their ‘football debts’. By this they seem to mean moneys owed to other clubs.
My view is that we should not allow this distinction to creep into the dialogue.
ALL rangers’ debts were accrued through the illegal use of other peoples’ money in order to gain advantage over their football competitors.
ALL their debts are football debts. Don’t let them tell us otherwise.
Just saying….
weeron:
An excellent point mate. Brilliant.
Cheers Snake- though my understanding of Wild Bill’s masterplan included generating European income over the next 3 years.
Stairheed
Buy one Wilson and get another Wilson free.
Summer CSC
Somebody posted this earlier sorry cant remember who but i thought was worth a repost He’s right up there with wee wullie bluenosehttp://sn126w.snt126.mail.live.com/default.aspx#!/mail/InboxLight.aspx?n=479491726!n=51106589&fid=3&mid=3cce4fa7-acbd-4d28-8812-5791ac4f534d&fv=1
Ghuys,
The list of blamees in the downfall of Dignity in rough chronological order:
Sir Robert Kelly
Jock Stein
Simpson
Craig
Gemmell
Murdoch
McNeil
Clark
Johnstone
Wallace
Chalmers
Auld
Lennox
Fergus McCann
Sir David Murray
BoS
HBoS (The worst bank in the world)
Jean Alain Boumsong / Graham Souness
Lehman Brothers
US Financial Secretary
HMRC
and finally Craig Whyte ….
I am sure I have got everyone
Nearlytheweekendcfc
Ernie, apologies if I picked you up wrong.
AW NAW, Nope Glesga bhoy, my late father stayed in estoril for the big cup final in 67 and came back to rename house ‘estoril’ and it has always been a place dear to my heart. Hope to visit one day in near future :)
sorry try againhttp://sn126w.snt126.mail.live.com/default.aspx#!/mail/InboxLight.aspx?n=479491726!n=51106589&fid=3&mid=3cce4fa7-acbd-4d28-8812-5791ac4f534d&fv=1
canamalar,
SPL article 14 applies where a member ceases to be entitled to hold a share or goes bust. It requires a General Meeting to decide where a share is transferred to.
Article 11 states that: “Except where such transfer is occasioned by the promotion of an association football club from and relegation of a Club to the SFL the consent of the Board shall be required before the transfer of any Share shall be registered.”
I think the argument is that if Rangers FC PLC (in administration), which holds a share, simply decided to transfer it to Newco then Article 11 applies and only the Board has a say.
Ian Black
Since the Wee Huns are binning him will the New Huns sign him?
He is a guy I would never tire of hurling abuse at but see him fitting in at Ibrokes. They like to sign players like this guy.
LB
Right this the last time I try hope it makes you laugh
thanks to captured
http://www.youtube.com/watch?v=ek7SfViBvJs&feature=youtu.be
Happy Mondays and the magnificent Inspiral Carpets tonight, in Morrisons choosing my warm up tipple. Has anyone tried the New Original tenets export lager? Bit stronger than my usual T.
Say ye wur a Rich American.
Ye hid a Guid wee Lucrative… Business.
Right?
Then..
Whit wid Inspire ye tae.. Go oot.. and
Try tae Buy a Broken Doon Fitba Club,in Faraway.
SCOTLAND. of awe Place??
Speaking, fur Masel. who…like the Man fae Tennessee..
Ah am ,also. Rich, American( Besides Hiving Three Ither Nationalities) and Hiv a Nice wee Lucrative Business..
Only wan Thing wid Inspire me tae Go tae Scotland tae Buy
a Broken Doon Fitba’ Ba club ,that his Never Made a Profit fur Donkeys..even in its Good Years..
and That Wan Thing.
Wid be . the CERTAINTY..of Making a Fast Buck. wi’ very Little..
RISK!!
Fur ye see.. Risk ..is always. well..
A RISK!
Wance, ye hiv a Bit money..Naturally,…. ye Want tae Mak.. well..
MAIR!
Right?
But..
Ye dinnae wanta .. well..
RISK.. Losing any !
Right?
And . Speculation..Kin be a Killer Wey o’.. Losing yer Dough!
So..
If ye who are reading this stuff..are No Too smart in the Heid.. and Dinnae Hiv A clue . at whit Ah am Getting At..
Ah wull spell it oot.. fur YOU…
“Dusty, Smells a Good Deal.. Wit Very Little.. RISK attached.. an He Plans tae Mak A Few Boab oota This
Investment,he is aboot tae. well.. Invest In”
and How he is Gonna Mak that Money..???
Ah hiv Nae Idea.. fur ,If Ah knew How he wiz gonna Turn a Profit,in this.. Cockamamie Investment
Hell..
Ah Might hiv Bin Tempted . tae
Buy that Bloomin Broken Doon CLub.. Fur Masel!
Ah am Dying tae Find Oot. Whit Miller is Up tae..
Ah guess.
Ah wull hivtae Jist wait and See..like the Rest of Ye.
Kojo
Stlll, Laughin’
James Forrest is Neil Lennon! We are ALL Neil Lennon! on 4 May, 2012 at 15:53 said:
Thanks James.
We need to be relentless here. This blog and RTC have been successful in correcting some of the dialogue. We need to keep it up.
Too much discussion in the media about who they owe the money TO. Hector is faceless and easy for them to ignore.
It is what they used the money FOR that is the issue.
They have used other people’s money to accrue a 130 million pound advantage over their competitors. that’s the drum that we have to bang. Whatever is done in the name on ‘sporting integrity’ must have this front and centre.
Avec Bez or sans Bez?