Generic Sevco / Rangers meltdown thread

[Spike Mandela]

This is getting ridiculous, nobody seems to be able to punish Rangers for ANYTHING.

This year could be Rangers greatest year ever and the year the rest of us finally realise we might as well pack up and go and play golf on a weekend.

[jgl07]

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Been thinking about the poor level of offer again. Surely the administrators could start selling off players as assets just now (well after 1 June). I know they wouldn't get full market value but if the rumours of cut price deals of say £1m for Bocanegra, Naismith, Whittaker etc they would raise a lot more than £5m. Can the creditors not insist on a yard sale to raise funds? Just returning to the original job for the admins- look after the creditors interests. Yes it would make Rangers less attractive for a buyer but would probably raise a lot more in funds for HMRC et al.

Why would anyone pay a transfer fee for a player who can probably declare themselves a free agent? All of the top players appear to have deferred(*) 75% of their wages for the past two months or so. Now they appear to being offered 5 pence in the pound (?) on the wages deferred.

Is that not breach of contract?

* I assume that the balance of the wages were deferred rather than conceded by the players concerned. I would guess that many will have insisted on a 'walk away' option in return for the wage reduction.

[Matty_Jack04]

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Been thinking about the poor level of offer again. Surely the administrators could start selling off players as assets just now (well after 1 June). I know they wouldn't get full market value but if the rumours of cut price deals of say £1m for Bocanegra, Naismith, Whittaker etc they would raise a lot more than £5m. Can the creditors not insist on a yard sale to raise funds? Just returning to the original job for the admins- look after the creditors interests. Yes it would make Rangers less attractive for a buyer but would probably raise a lot more in funds for HMRC et al.

Would a creditor be able to sue Duff and Duffer for not acting in their interests?

West brom wanted Naismith and offered 2million which somehow got rejected, the creditors could surely make more off the assets than what green has put on the table

[Seveno]

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I've been thinking the same thing, although I was wondering if they were just looking for someone else to pull the trigger. To raise this action without being aware of the regulations was an act of gross negligence, if they were aware of them they are challenging the authority of the SFA and UEFA. Totally destructive either way.

I am one for conspiracy theories but, in this case, I go for the incompetence theory.

[soupy]

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I am probably way off here, but is it possible that some folks at the SFA are actually hoping that FIFA come in heavy-handed and make the decision that they don´t have the guts to make, so that after the huns implode, they can point at FIFA and say, it wisnae us, it wis them?

This is exactly what I'm thinking, and thank god FIFA have the balls to do something....

[Spike Mandela]

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'Significant' Fifa story soon.

https://twitter.com/rburgessbbc/stat...02153017868288

Might be the statement mentioned by STV earlier.

Think it may be this.......


http://www.bbc.co.uk/sport/0/football/18232533

[ancient hibee]

FIFA and UEFA couldn't care less-they will do nothing.

Green's "offer"is actually a loan to Rangers repayable with interest.If the creditors fall for this one they deserve to lose their money.They should insist that players are sold to raise funds and cut wages.

[Seveno]

So what does Craigy get from ths CVA ? I find it hard to believe that he is walking away with just £2.

Is he part of the consortium ? Retaining ownership of Ibrox to rent to the consortium ? Just waiting for the inevitable liquidation ?

[Onion]

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I am probably way off here, but is it possible that some folks at the SFA are actually hoping that FIFA come in heavy-handed and make the decision that they don´t have the guts to make, so that after the huns implode, they can point at FIFA and say, it wisnae us, it wis them?

You're not way off at all. That's my take on the situation, and if you were in the SFA's shoes wouldn't you be working towards this ? They are in a dammed if they do, dammed if they don't predicament. A FIFA/UEFA bail-out is just what this situation needs.

[Hibs7]

Why are duff and duffer not being paid 8 p in the pound, surely they are owed money from.Rangers too.
The whole thing stinks and the SFA should throw the book at them, give them the worst punishment legally possible.

[steakbake]

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I am probably way off here, but is it possible that some folks at the SFA are actually hoping that FIFA come in heavy-handed and make the decision that they don´t have the guts to make, so that after the huns implode, they can point at FIFA and say, it wisnae us, it wis them?

This is the one, I reckon. The SFA are hoping it gets taken out their hands because they don't have the spine to do it themselves.

[millarco]

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Why are duff and duffer not being paid 8 p in the pound, surely they are owed money from.Rangers too.
The whole thing stinks and the SFA should throw the book at them, give them the worst punishment legally possible.

Administrators are paid in full, otherwise nobody would ever to the job. Whether they've earned their £3m+ is a different matter.

[Derek Dougan]

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Administrators are paid in full, otherwise nobody would ever to the job. Whether they've earned their £3m+ is a different matter.

Can you see any of the creditors accepting 9p in the £, when Duff and Duffer are taking over £5.5M themselves? I'm almost convinced that Whyte will be trousering a few quid from that.

[ekhibee]

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Administrators are paid in full, otherwise nobody would ever to the job. Whether they've earned their £3m+ is a different matter.

They're actually getting over £5.5 million, more than the offer they've made to the creditors!!

[strummbo]

its all a sham ... them swines will end up still in the spl....

the sfa/spl/sfl are bending over backwards to ensure that they will

the judiciary will back them up, other spl clubs will support them

its all a total stick on i think

[camhibby1]

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Can you see any of the creditors accepting 9p in the £, when Duff and Duffer are taking over £5.5M themselves? I'm almost convinced that Whyte will be trousering a few quid from that.

As a matter of principal every publicly funded creditor (Ambulance Service; Royal Mail; Strathclyde Police and others) should reject this CVA and announce that they are rejecting it on the grounds that Rangers in 'allegedly' being involved in tax evasion have denied, by their actions much needed funds for these very publicly funded bodies. I am loathing the cheating and conniving more and more and just wish they would disappear for ever.

[blackpoolhibs]

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its all a sham ... them swines will end up still in the spl....

the sfa/spl/sfl are bending over backwards to ensure that they will

the judiciary will back them up, other spl clubs will support them

its all a total stick on i think

I'm hanging my coat on FIFA or UEFA doing the job right, as like you i have no faith in those cowards and corrupt pricks in charge at the SPL/SFA anymore.

This is the crossroads imo for football in our country, if they get this wrong they might have the huns back, but imo they will lose a huge amount of non old firm fans.

[strummbo]

bh... i dont think folk would stop goin, i will keep going as will others

could't not support my team because of the opposition. that would be crazy

tis a crossroads though yer right there

[millarco]

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Can you see any of the creditors accepting 9p in the £, when Duff and Duffer are taking over £5.5M themselves? I'm almost convinced that Whyte will be trousering a few quid from that.

I hope not, but they might see it as the only way of recovering anything (and potentially guaranteeing future income). Will all come down to HMRC/Ticketus anyway.

[millarco]

Enjoyed the invitation to supporter debenture holders, presenting the option "to surrender their Benefits in exchange for a distribution via the CVA". Wonder how many of the Bears will surrender...

[Spike Mandela]

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bh... i dont think folk would stop goin, i will keep going as will others

could't not support my team because of the opposition. that would be crazy

tis a crossroads though yer right there

Wrong. I feel strongly enough that it's not about supporting this team or that, it's about paying good money into a morally bankrupt, corrupt game where all chips are stacked against non OF teams. Hibs strategy of living within our means has brought us tediously dull teams and gains us no benefit whatsoever in the short or long term.

My overriding feeling is 'what is the point?'. I am a season ticket holder but if Rangers aren't dealt with in a fashion I consider suitable I will walk away and take the hit this year. Scottish football would be pointless.

[blackpoolhibs]

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bh... i dont think folk would stop goin, i will keep going as will others

could't not support my team because of the opposition. that would be crazy

tis a crossroads though yer right there

I think you might be surprised, I'd go to the derby games probably, God knows why though?

Apart from that, I won't bother. I won't be boycotting hibs, I'd just be finished with the game as it is bent.

[strummbo]

my uncle took out 2 debentures at ibrox. i wasnt pleased, but he said that the idea of having 'dominic' on the plate on the chair was too good to miss. fair enough i thought

[The Green Goblin]

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I think you might be surprised, I'd go to the derby games probably, God knows why though?

Apart from that, I won't bother. I won't be boycotting hibs, I'd just be finished with the game as it is bent.

This. And I bet you could substitute "hibs" there for many other teams in Scotland and you'd have the opinion of many fans that the powers-that-be don't really believe will walk away. I think if they decide to call that bluff, they're going to get an awful shock.

[Newry Hibs]

Just trying to catch up a bit ....

Can someone do a quick summary as to why FIFA / UEFA may act as per Sion? Weren't they (Sion) in the wrong? (I know RFC aren't particularly looking good), but RFC have gone to court who have said an action against them was wrong. As much as I don't like them, surely they have 'the law' on their side, so I don't really get why FIFA / UEFA would object. What if the sanction was totally unreasonable (e.g. play all their matches on one leg) wouldn't they be right to go to court?

Also, hasn't Green via the CVA made his offer now? Is it retractable? What if Ticketus and HMRC said yes tomorrow?

Lastly, is Green's offer a loan? Isn't that a bit dodgy in itself? I thought he had 20 or so multi millionaires to pump money in. Surely they would get their investment back and then some.

[PatHead]

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The Green offer will be based on the players remaining.
If they sell the players then the Green offer will be withdrawn.
If the Green offer is withdrawn then liquidation might be the only option left. I'm not sure the timescale will allow another buyer to come in, Green could be the last throw of the dice from a creditors perspective (HMRC excluded).

The point I'm making though is that Green's offer is pathetic. If players were sold they could raise say £15m and pay more to the creditors with liquidation than Green is offering. Rangers continuation should not be a consideration for admins if they are not continuing to make payments in future.

[frazeHFC]

Teams owed money are only getting 9 pence in the pound. Why??? If they can't pay it then they should die. If they are to stay as a club then why should other teams suffer?

[GordonHFC]

I always worried that the sanction was a made up one because the panel thought that a fine was not enough and a suspension was too much. I think the currants may have shot themselves in the foot here as the only course I can see the panel taking is now suspension. If there is nothing available in the middle then suspension it has to be ?

[Gus Fring]

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Just trying to catch up a bit ....

Can someone do a quick summary as to why FIFA / UEFA may act as per Sion? Weren't they (Sion) in the wrong? (I know RFC aren't particularly looking good), but RFC have gone to court who have said an action against them was wrong. As much as I don't like them, surely they have 'the law' on their side, so I don't really get why FIFA / UEFA would object. What if the sanction was totally unreasonable (e.g. play all their matches on one leg) wouldn't they be right to go to court?

Basically, from what I understand, its irrelevant whether Rangers are right or not, no team is allowed under FIFA rules to take their Association to "Ordinary Court".

Heres the rule

[ballengeich]

I was surprised by today's news as I felt that the presence of Lord Carloway on the SFA panel was meant to ensure that the proceedings would be conducted in a way that would ensure that this kind of legal challenge would be dismissed. I expect the next step to be an SFA appeal against today's court verdict.

It seems that the court did not reject the SFA's right to punish Rangers, just the particular sanction chosen. A one year suspension would have been legal. That would also now scupper the cva without Hector having to lift a finger as Green's offer is conditional on Rangers being in the usual competitions.