Generic Sevco / Rangers meltdown thread

**Andy74** · 07-03-2012 03:29 PM

Originally Posted by CallumLaidlaw

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Full statement -

Like it very much.

***CropleyWasGod*** · 07-03-2012 03:31 PM

Originally Posted by ScottB

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To me it sounds like the squad are refusing to take pay cuts, meaning they'd have to lay most of them off, which obviously reduces the value of the club for a buyer.

This smacks of a put up or shut up offer to Murray / King / whoever else, as in buy the club now or most of the playing staff goes bye bye.

There's surely nobody in their right mind who would buy them by the end of the week!

... that still leaves them open to legal action from those players.

Okay, SPL experts needed here. If they can't fulfil their fixtures, as the statement suggests... is it as simple as a 3-0 defeat in every game, plus a fine? Or is it more complicated?

**Mark79** · 07-03-2012 03:33 PM

No one will buy that mob whilst there is £60m potentially due to HMRC. Only way they would be a viable purchase is without that debt and the only way that will happen is by liquidation.

***JimBHibees*** · 07-03-2012 03:33 PM

Originally Posted by Beefster

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I'm off to phone the bank and tell them that I won't make a decision on whether I need a loan until I know if I need a loan or not and have to make a decision on whether I want one or not.

Completely pointless statement from St Mirren.

Yep.

**ScottB** · 07-03-2012 03:33 PM

Originally Posted by CropleyWasGod

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... that still leaves them open to legal action from those players.

But surely that would be postponed till later?

What choice do they have at that point? Not enough money to make the end of the season, staff who won't accept a pay cut...

Would the players be put off pressing for legal action since paying those wages would liquidate the club and they'd get squat anyway?

**ancienthibby** · 07-03-2012 03:34 PM

Originally Posted by CropleyWasGod

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... that still leaves them open to legal action from those players.

But with about ZERO prospect of success

**The_Sauz** · 07-03-2012 03:35 PM

Originally Posted by CropleyWasGod

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This thread really does have it all.

Now it's cross-border disputes!!

We could talk about the Hertz

***CropleyWasGod*** · 07-03-2012 03:36 PM

Originally Posted by ScottB

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But surely that would be postponed till later?

What choice do they have at that point? Not enough money to make the end of the season, staff who won't accept a pay cut...

Would the players be put off pressing for legal action since paying those wages would liquidate the club and they'd get squat anyway?

Is this maybe a ploy, to make the players realise that ...in a couple of weeks... that's it, no money AT ALL. But, if they accept pay cuts now, there MIGHT still be a club to play for next season?

***CropleyWasGod*** · 07-03-2012 03:37 PM

Originally Posted by Aleksandr Orlov

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We could talk about the Hertz

shhhh... this thread is just a rehearsal for THAT little event.

**Beefster** · 07-03-2012 03:40 PM

Originally Posted by CropleyWasGod

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Is this maybe a ploy, to make the players realise that ...in a couple of weeks... that's it, no money AT ALL. But, if they accept pay cuts now, there MIGHT still be a club to play for next season?

I think the players were willing to take the required pay cuts but then wanted free transfers or slices of transfer fees in the summer. I think the Administrators' point is that agreeing to this (or making them all redundant) loses the club its main assets.

**Togs91** · 07-03-2012 03:41 PM

Originally Posted by CropleyWasGod

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shhhh... this thread is just a rehearsal for THAT little event.

**ScottB** · 07-03-2012 03:43 PM

Originally Posted by CropleyWasGod

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Is this maybe a ploy, to make the players realise that ...in a couple of weeks... that's it, no money AT ALL. But, if they accept pay cuts now, there MIGHT still be a club to play for next season?

Presumably, but then most of these players, certainly the big earners will know that come the summer, they'll be at another club, maybe even earning more... Guess we shall see just how 'Rangers through and through' the likes of McGreggor are...

Originally Posted by CropleyWasGod

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shhhh... this thread is just a rehearsal for THAT little event.

This is but the Confederations Cup compared to the full on World Cup that thread will be

***stokesmessiah*** · 07-03-2012 03:44 PM

Well guys for the first time i actually think that Rangers are really going to pop.

***CropleyWasGod*** · 07-03-2012 03:44 PM

Originally Posted by Beefster

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I think the players were willing to take the required pay cuts but then wanted free transfers or slices of transfer fees in the summer. I think the Administrators' point is that agreeing to this (or making them all redundant) loses the club its main assets.

Having re-read their statement, that makes sense too.

***CropleyWasGod*** · 07-03-2012 03:45 PM

Originally Posted by stokesmessiah

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Well guys for the first time i actually think that Rangers are really going to pop.

It's not over until the fat King on his white horse rides in.

***CropleyWasGod*** · 07-03-2012 03:47 PM

Originally Posted by ScottB

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Presumably, but then most of these players, certainly the big earners will know that come the summer, they'll be at another club, maybe even earning more... Guess we shall see just how 'Rangers through and through' the likes of McGreggor are...

This is but the Confederations Cup compared to the full on World Cup that thread will be

I will be taking a seat with the punters for that one. Cav has a much better handle on that situation than I , so I'll let him conduct the choir

**jodjam** · 07-03-2012 03:48 PM

There is a wonderful error on Sky Sports News just now stating that "rangers director Paul King states liquidation is inevitable'......seeing as that's my name it makes for some lovely viewing.

**Gingertosser** · 07-03-2012 03:48 PM

so basically.... they are looking for someone to come up with £30m within 48hrs

and also have sufficient funds at hand to pay a possible £70m tax bill.

seems easy enough

**ancienthibby** · 07-03-2012 03:50 PM

Originally Posted by CropleyWasGod

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It's not over until the fat King on his white horse rides in.

It'll no be over till 'The Big Man' stands over the ruins and observes that 'The Big Hoose' is no more!

***CropleyWasGod*** · 07-03-2012 03:51 PM

Originally Posted by Gingertosser

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so basically.... they are looking for someone to come up with £30m within 48hrs

and also have sufficient funds at hand to pay a possible £70m tax bill.

seems easy enough

.. and also someone that can cope with not having the proceeds of 25,000 season tickets every year for the next 3 or 4 years.

**Andy74** · 07-03-2012 03:53 PM

Originally Posted by CropleyWasGod

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.. and also someone that can cope with not having the proceeds of 25,000 season tickets for the next 3 or 4 years.

I thought Whyte was up for that personally and Ticketus had no claim on the football club for it?

**EuanH78** · 07-03-2012 03:54 PM

Originally Posted by CropleyWasGod

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.. and also someone that can cope with not having the proceeds of 25,000 season tickets for the next 3 or 4 years.

Or the takings from the pie stands...Mustn't forget about that

***CropleyWasGod*** · 07-03-2012 03:55 PM

Originally Posted by Andy74

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I thought Whyte was up for that personally and Ticketus had no claim on the football club for it?

Not if it's a going concern. If someone does buy the club as it is just now, they buy it with all its assets,liabilities, and contracts, including Ticketus.

If liquidation happens, that deal would fall and Craigy has to cough up.

**blaikie** · 07-03-2012 04:01 PM

I would like to register my interest in this great Scottish institution.

I will start the bidding with ....

1x Fifty Pence Coin
Wagon Wheel
Signed photograph of Ian Paisley

Yours Faithfully,
Blaikie

***CropleyWasGod*** · 07-03-2012 04:02 PM

Originally Posted by blaikie

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I would like to register my interest in this great Scottish institution.

I will start the bidding with ....

1x Fifty Pence Coin
Wagon Wheel
Signed photograph of Ian Paisley

Yours Faithfully,
Blaikie

How old is the Wagon Wheel?

**YehButNoBut** · 07-03-2012 04:02 PM

Just up on STV website, does not sound good for Rangers at all: -

Rangers' administrators say the club will not fulfil its remaining fixtures this season unless either a buyer is found imminently or drastic cuts are made to jobs.

Talks with the club's players over an agreement to cut salaries by up to 75% for the next three months have collapsed.

A desire from a number of the first team squad to have clauses inserted in their contracts, which would see them leave in the summer for free or for a "reasonable" price, is understood to have led to the impasse. A statement from co-administrator David Whitehouse said: "The club is in a perilous financial situation and that should not be under-estimated.

"Regrettably, we have been unable to agree cost-cutting measures with the playing staff on terms that will preserve value in the business.

"We understand the players' position as the scale of wage cuts required to achieve these savings without job losses were very substantial indeed.

"In view of this, we are faced with a situation of making redundancies within the playing staff on such a scale that would materially erode the value of the playing squad."

Whitehouse explained that while substantial savings needed to be made immediately, some value had to be retained within the squad to make it an attractive proposition for possible buyers.

However, the administrator warned that substantial cuts would be imposed if no other solution is found quickly.

"We are striving to strike a balance where cost-cutting measures can be implemented but do not destroy the fabric of the playing squad to the extent that it will inhibit the prospect of a sale," he said.

"However, no one should be in any doubt that in the absence of sufficient cost-cutting measures or receipt of substantial unplanned income, the club will not be able to fulfil its fixtures throughout the remainder of the season.

"As a result, we are expediting the sale process and over the next few days we will be holding discussions with prospective purchasers who have declared their interest.

"The manager, Ally McCoist will play an integral part in these discussions. If however it becomes apparent that the sale process cannot be accelerated there will be no choice but to implement very severe cost cutting measures at the club."

http://sport.stv.tv/football/scottis...-action-taken/

**jgl07** · 07-03-2012 04:06 PM

Originally Posted by YehButNo But

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Just up on STV website, does not sound good for Rangers at all: -

Rangers' administrators say the club will see not fulfil its remaining fixtures this season unless either a buyer is found imminently or drastic cuts are made to jobs.

Talks with the club's players over an agreement to cut salaries by up to 75% for the next three months have collapsed.

Well why don't the Administrators act and cut some of the deadwood from the playing staff?

**Andy74** · 07-03-2012 04:07 PM

Originally Posted by CropleyWasGod

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Not if it's a going concern. If someone does buy the club as it is just now, they buy it with all its assets,liabilities, and contracts, including Ticketus.

If liquidation happens, that deal would fall and Craigy has to cough up.

Even as a going concern haven't Rangers said, and the guy's statement this morning also confirmed, that Rangers weren't actually part of this deal so couldn't be held to it?

***CropleyWasGod*** · 07-03-2012 04:08 PM

Originally Posted by jgl07

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Well why don't the Administrators act and cut some of the deadwood from the playing staff?

They are in a very difficult position there.

If they do that, said players can sue for the remaining portion of their contract. A smart lawyer would apply to have funds in RFC ring-fenced (as Martin Bain, I think, did), pending the Court case. That would just get us back to the same position, if not worse.