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View Poll Results: What is your attitude to a new "Rangers" entering at Div1?

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  • Opposed - and will walk away from Scottish professional football

    524 55.39%
  • Opposed - but will continue to support the game.

    404 42.71%
  • In favour.

    18 1.90%
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  1. #37591
    Quote Originally Posted by Ozyhibby View Post
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    http://www.theoffshoregame.net/corru...competent-sfa/

    More from the Tax Justice Network.


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    The offshoregame are putting up an admirable fight but I long ago came to the conclusion that its not just Regan and Doncaster at work here - every club in this country is complicit by their silence. Why else would Hearts keep quiet about Sevco being allowed to enter into Europe? Silence from them........


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  3. #37592
    @hibs.net private member Ozyhibby's Avatar
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    Generic Sevco / Rangers meltdown thread

    Quote Originally Posted by HoboHarry View Post
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    The offshoregame are putting up an admirable fight but I long ago came to the conclusion that its not just Regan and Doncaster at work here - every club in this country is complicit by their silence. Why else would Hearts keep quiet about Sevco being allowed to enter into Europe? Silence from them........
    I agree. Hibs are part of this as well. This season we could be pipped for a euro spot by Sevco who are admitting to breaking FFP rules again this year and I guarantee we will say nothing.


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    Last edited by Ozyhibby; Yesterday at 05:06 PM.

  4. #37593
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Ozyhibby View Post
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    I agree. Hibs are part of this as well. This season we could be pipped for a euro spot by Sevco who are admitting to breaking FFP rules again this year and I guarantee we will say nothing.


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    I've just had a squint at the revised SFA Licencing requirements.

    According to my reading, RFC had what is known as "indicators" in their accounts, ie that the Audit Report was not unqualified. Because of that, they are required to furnish the following:-

    Where the Indicators apply, licence applicants must prepare and submit future financial
    information in order to demonstrate to the Scottish FA their ability to continue as a
    going concern until the end of the licence season.
    Future financial information consists of:
    a) A budgeted profit and loss account;
    b) A budgeted cash flow; and
    c) Explanatory notes including a brief description of each of the significant assumptions
    (with reference to the relevant aspects of historic financial and other information)
    that have been used to prepare the budgeted profit and loss account and cash flow
    statement, as well as of the key risks that may affect the future financial results


    I am assuming that they have supplied that information, as they have been granted an SFA Licence. I can't see any other way in which they might have breached the regulations, which is why there has been no complaint from anyone else.

    The list of licenced clubs is forwarded to UEFA by 31st May, for their own review. That review will include the issues of the directors' funding. Whether or not that has been done, we can't tell. However, given that RFC are already in the draw, I'm not sure that there will be any expulsion or refusal. If they are punished, it will be financial.

    I'm not saying I agree with the process,.... I'm just laying out the process as I understand it.
    Last edited by CropleyWasGod; Yesterday at 05:59 PM.

  5. #37594
    @hibs.net private member Ozyhibby's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    I've just had a squint at the revised SFA Licencing requirements.

    According to my reading, RFC had what is known as "indicators" in their accounts, ie that the Audit Report was not unqualified. Because of that, they are required to furnish the following:-

    Where the Indicators apply, licence applicants must prepare and submit future financial
    information in order to demonstrate to the Scottish FA their ability to continue as a
    going concern until the end of the licence season.
    Future financial information consists of:
    a) A budgeted profit and loss account;
    b) A budgeted cash flow; and
    c) Explanatory notes including a brief description of each of the significant assumptions
    (with reference to the relevant aspects of historic financial and other information)
    that have been used to prepare the budgeted profit and loss account and cash flow
    statement, as well as of the key risks that may affect the future financial results


    I am assuming that they have supplied that information, as they have been granted an SFA Licence. I can't see any other way in which they might have breached the regulations, which is why there has been no complaint from anyone else.

    The list of licenced clubs is forwarded to UEFA by 31st May, for their own review. That review will include the issues of the directors' funding. Whether or not that has been done, we can't tell. However, given that RFC are already in the draw, I'm not sure that there will be any expulsion or refusal. If they are punished, it will be financial.

    I'm not saying I agree with the process,.... I'm just laying out the process as I understand it.
    Yes, they can't be kicked out this year but they can be told to make sure they hit break even by next season by UEFA.
    https://stv.tv/sport/football/137430...lay-in-europe/


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  6. #37595
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Ozyhibby View Post
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    Yes, they can't be kicked out this year but they can be told to make sure they hit break even by next season by UEFA.
    https://stv.tv/sport/football/137430...lay-in-europe/


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    So there's no point in Hearts complaining this year?

    As for the coming year, the Sports Direct deal will be a big help. The merchandising sales have apparently been excellent already.
    A decent run in the Europa League, and they may be able to pay off a fair bit of the directors loans.
    And, now that the SD deal has.been done, they may have another crack at allowing those loans to be converted into shares.

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  7. #37596
    @hibs.net private member Ozyhibby's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    So there's no point in Hearts complaining this year?

    As for the coming year, the Sports Direct deal will be a big help. The merchandising sales have apparently been excellent already.
    A decent run in the Europa League, and they may be able to pay off a fair bit of the directors loans.
    And, now that the SD deal has.been done, they may have another crack at allowing those loans to be converted into shares.

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    That last paragraph is the one they need. That would allow them to create new shares and distribute them among the directors. All the other shareholders would lose out but they won't care so long as they get into Europe.


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  8. #37597
    @hibs.net private member Sylar's Avatar
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    Gamertag: sjmcg1304
    Their fans appear to be pishing their frillies at an announcement that's supposedly taking place later today. club1872 have allegedly bought out Ashley's shares and there's a foreign investor who's to be unveiled.

    Could be fan forum pish, but it's pish that's been spread widely.

    They've brought in a lot of talent this past wee while and both Herrera and Pena are excellent signings for them. They definitely look like they're going to be a slightly different animal this coming season.
    Okay, technically I'm a serial killer...

  9. #37598
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    Quote Originally Posted by Ozyhibby View Post
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    That last paragraph is the one they need. That would allow them to create new shares and distribute them among the directors. All the other shareholders would lose out but they won't care so long as they get into Europe.


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    Whatever happened to the Takeover Panel judgement requiring King to offer for all the shares? Does that just get ignored?

  10. #37599
    @hibs.net private member Ozyhibby's Avatar
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    Quote Originally Posted by grunt View Post
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    Whatever happened to the Takeover Panel judgement requiring King to offer for all the shares? Does that just get ignored?
    Seems to be.



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  11. #37600
    Quote Originally Posted by grunt View Post
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    Whatever happened to the Takeover Panel judgement requiring King to offer for all the shares? Does that just get ignored?
    At the Court of Session http://m.bbc.co.uk/sport/football/39592351

  12. #37601
    @hibs.net private member Ozyhibby's Avatar
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    Now that Ashley has sold his shares, they def have the votes to get through the vote on the share issue. Only takeover panel ruling in the way now.


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  13. #37602
    James Doleman pointed to decisions on appeals to Court of Session on two cases. Charles Green claim for Sevco to pay his legal fees, and case against Gary Withey and David Grier both rejected by the court. Green case link below. Can only post one link at a time . Withey case to follow

    https://www.scotcourts.gov.uk/search...0-ff0000d74aa7












  14. #37604
    Coaching Staff Ronniekirk's Avatar
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    So they are bit by bit getting past any hurdles Soon they will be telling us they are looking to challenge Celtic for the Title next SeasonNever seen so many fans excited at buying up Club merchandise in bulk since we were snapping up anything with the word Persevered on it


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  15. #37605
    They seem to have been selling the strips at a significantly lower price than is usual. I wonder why. The most common reason for discounted clothing is to clear space for a new season's stock, but we're told they're using the same strips as last season. You'd have thought they'd charge the maximum the market could stand to cash in on the pent-up demand. That gives the possibility that the business currently has more concern for cashflow than profit.

    The directors have supplied further loans to bring in the new players. I suspect there's a business plan that's heavily dependent on European success, so they've already spent a significant proportion of the 17/18 season to increase the chance of achieving that, and as a result are very short of cash until ST instalments arrive. When the accounts appear later in the year the cash position at 30th June will be interesting.

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