Was there any announcement of the voting for/against the CVA ?
How Ticketus or any other major creditors voted, and was the whole exercise a waste of time as well as a good fee earner for the Duffs.
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Was there any announcement of the voting for/against the CVA ?
How Ticketus or any other major creditors voted, and was the whole exercise a waste of time as well as a good fee earner for the Duffs.
Quote:
Originally Posted by Andy74
This, folks, is where we stand at the moment.
I take it the NewCo (THE Rangers FC) will be able to buy players as they are not under the same administration transfer embargo as the OldCo.
surely now they must liquidate the club and sell it assets, not just agree to sell it to Charles Green for £5.5m
the ground is worth more than that, the car park across the road was valued in excess of £3m so surely the creditors have the right to say no to the club being sold for that .. sell the lot on the open market and allow the creditors to get some money, as it stands they won't get a bean ,... yet Rangers carry on with no debt and the word "THE" added to their name.
The whole thing stinks of a complete "looking after the boys", where else could you buy a ground, players, training complex, and huge amounts of surrounding land in a large city for £5.5m.
Duff and Phelps surely can not make arrangements to sell any of the assets when there will be liquidators who will be appointed????
Quote:
Originally Posted by HibeeMG
surely newco can't sign anyone until they have sfa membership? you need the sfa to approve player registration etc
until they have sfa membership newco = new company, not new club
:agree: I suppose what I'm trying to say is that, even if they are still in administration at that point and eligible for the SPL, if the Newco-in-the-SPL project has been kicked into the long grass by the the other Clubs, their place in the SPL is untenable and entirely pointless. The sensible thing to happen, in that case, would be to refuse them entry, on account of their short-term future in the league. Whether or not that would happen though......Quote:
Originally Posted by reallapsedhibee
Very true. :aok:Quote:
Originally Posted by hoxtonhibby
So it all depends, as Andy says, on the SPL vote on the NewCo.
Now, another question. When the fixtures come out Rangers OldCo will be included and will be subject to a 30pt penalty. The NewCo will be applying to replace them.
Will the NewCo take over the -30 points if they're allowed in?
They wouldn't have a ground or any players registered, those will be sitting with the newco, should the players accept of course, if not they will have been deemed to have resigned so won't be with oldco.Quote:
Originally Posted by s.a.m
Douglas Fraser@BBCDouglsFraserIn #Rangers creditor meeting, Ticketus - which, like HMRC, had a blocking vote - backed the CVA. Now going after Craig Whyte for £27.5m
Most sensible thing I've seen written re the Huns/Fans for a while :top marks .... and yes, for the record I'm sorry for the real fans.Quote:
Originally Posted by Kato
Good point.... although it's a dangerous path.... techinically they could buy a player but they wouldn't be part of the SFA/SPL yet so the player wouldn't be licensed to play ANYWHERE. The thing is, there's 2 transfer embargo's running at the moment.... 1 for being in Admin and another for owing money to other clubs in Scotland.Quote:
Originally Posted by HibeeMG
I guess signing a player via the back door then trying to get him added into the "club" when it moves over would be seen as a complete no no. beaten to it.... I need to be less long winded! :wink:
on another note about when the vote takes place...... it's 14 days after the SPL receive a Newco application.... so needs to be in at least 2 weeks prior to the start of the season and if it's left that late there's no wriggle room if they're rejected.
I was told it would be Independant Rangers Athletic.Quote:
Originally Posted by YehButNo But
Of course thats just a provisional name. ;-)
If/when the players walk, the SPL votes no, Lord Carloway gets another bite at the cherry, things won't be looking quite so rosy. Every dawn for the Huns over the last year and a half has been a false one so far. :wink:Quote:
Originally Posted by Andy74
This is where it gets grey for me. The newco will exist as an entity from tomorrow but the oldco won't technically be liquidated for anothe 6-10 weeks. They are either the oldco or the newco surely they can't be both.:confused:Quote:
Originally Posted by HibeeMG
Should the vote be no it doesn't give Dundee any time to consider their budget for a season in the SPL either does it.Quote:
Originally Posted by Sir Alf R
More likely Greene is ready to walk.Quote:
Originally Posted by Spike Mandela
I know this has been posted before but just a wee reminder what the Huns were planning less than hree short years ago.Quote:
Originally Posted by Stevie Reid
From Walter Smith in 2009
So Walter you have your wish. The league will get stronger without the Huns who will start in the 3rd divisionQuote:
Unlike many senior figures in the Scottish game, Smith has no fears for the wellbeing of the clubs Celtic and Rangers would leave behind in the SPL if they did move on to help form a new league.
In fact, he is adamant that other clubs having an increased chance of winning the national title for the first time since Aberdeen back in 1985 would result in vastly increased gates and general renewed interest.
He also stressed that entry to the new competition would be open to the winners of the SPL, not just the Old Firm clubs, and would be an enormous added incentive for them to succeed.
“The team which wins the league should have the opportunity to get into that league playing off against the teams which are already in it,” he explained. “If, for example, Aberdeen win the title, and can meet the criteria for a European league, then they should play-off for the chance to be a part of it. There would be benefits for the whole of Scottish football.”
Nor does Smith envisage Rangers or Celtic abandoning Scottish football altogether. He reckons reserve or even youth teams representing the Ibrox and Parkhead clubs could still compete in the Scottish domestic leagues.
“Rangers and Celtic would still field teams in Scotland even if they left to join a European league. They might have to start at the bottom division and work their way up again. But they will always have a presence in Scottish football.”
Even if they do get back into the SPL, they going to have no players, reduced income, SPL/SFA sanctions and a crook of an owner who will hoovering any cash out of them as soon as it appears.
I'll give them a season before they're back in Admin again, this time with all assets stripped and heading directly down the pan.
Starting in Div3 is probably their only chance of survival.
... with a youth team. Exactly as he foresaw!Quote:
Originally Posted by Hot Shot Hamish
None of the sanctions you mention are certain. If I was a creditor I would be demaning that liquidators claim a higher price for a debt free Rangers and that they question Duff and Phelps deal with Green. There are buyers who will pay a lot more for £125m worth of assets now that the debt burden is removed.Quote:
Originally Posted by Bighoose
Visionary stuff from Walter . Or perhaps he had the inside track...
Strangely though, none of the crditors seem too bothered at thsi stage? HMRC certainly spoke of allowing Rangers the new srat under the terms of the agreed asset sale.Quote:
Originally Posted by Spike Mandela
Still doesn't make any sense to me that this has been allowed at such a discount.
:top marksQuote:
Originally Posted by Spike Mandela
total can of worms at every turn....
Now that we have a club Liquidated, can we expect an announcement today from Mr Doncaster and his cronies at the SPL, and/or, the SFA?
On what?Quote:
Originally Posted by HibbyRod
There is no club liquidated yet, and it won't be for quite some weeks.
I expect the asset purchase and attempted transfer of SFA membership/SPL share to happen before that though. **** or get off the pot time for the bold Mr Green.Quote:
Originally Posted by CropleyWasGod
When you are a creditor you reach a point where it dosent really matter and, in the overall process, you become insignificant.Quote:
Originally Posted by Andy74
I think most of them will have spent enough time chasing this and are prepared to leave it to the revenue to sort out.
to be fair Doncaster and the rest have no kept their mouths shut all the way through this now all of a sudden theres nothing :confused:Quote:
Originally Posted by CropleyWasGod
Very true.Quote:
Originally Posted by Kaiser1962
In my experience, a lot of creditors won't have even bothered replying to the CVA document. In thir minds, the debt is gone, and anything they get from now on will be a bonus.
I don't know that there is much they can say. From an SPL or SFA view, little has changed. The standard response from them will be "we will consider any application on its merits... etc etc"Quote:
Originally Posted by Gatecrasher
Green is being EXTREMLEY economical with the truth if you ask me.....
He told members of the Rangers Fans Fighting Fund that he had deposited £7.5m with the administrators. Yet in the statement he released on Tuesday, Paul Clark of Duff & Phelps admitted Green was still short with some of his funding. Early in the process, Green claimed Rangers would be debt free, while knowing that the terms of his purchase would be that the £8.5m price for a successful CVA would be a loan at 8% interest. He claimed this was to protect the 26,000 minority shareholders, but could instead have obtained a waiver from having to offer to buy them out, as Craig Whyte did when he bought Sir David Murray's 85% shareholding. Even without doing that, Green could have set the interest at a token 1%.
from the Herald.... http://www.heraldscotland.com/sport/...-line.17871992
:lolrangers:
So the likelihood is that Oldco Rangers will enter the new season in administration?Quote:
Originally Posted by CropleyWasGod
If Newco does get voted to play in SPL would dundee not have grounds for complaint?
My reasoning is that if RFC are liquidated and it looks like this is going to happen then surely there is now a vacant spot in the SPL. By rights this spot should be available to dundee.
If a Newco then buy the Rangers assets they have no more right to a position in the league than any highland or junior club who might want to joint the SFL. Or indeed if had the money to buy a stadium or build one i could now apply to join the league on the same footing as this newco company.
Technically Newco have no fan base, no history and no inherrant right to play in the SFL never mind given straight access to the SPL.
In my opinion the only way for any new club to play in the SPL is via promotion and every team in any division should be able to complain about this as they all have more right to be there than a Newco.
Im really hoping that there is a no vote as i have already promised my grandson a season ticket. It will break his heart but i will not be able to go back if this mockery of our league system is allowed to go through.
STV tonight 10.30 The rangers Downfall
A must watch
No offence Brando but I very much doubt it. More likely to be a very soft sympathetic look at the 'poor suffering Rangers fans' .Quote:
Originally Posted by Brando7
What about having the fixtures as they are - with RFC included and an assumption they will carry on. TRFC get a no vote or kicked out for double contracts or whatever, leaving an 11 team league. No relegation this seaon (not ideal) and 2 come up from SFL1. No room for a new club in SFL3, but then that's TRFCs problem.Quote:
Originally Posted by Spike Mandela
(Not going to happen unfortunately).
Please please please on the firs home game of next season no matter the opponent can we have a mass
HAHA HAHA sing along to hullo hullo
Are they dead yet?
As I see it;
D&P are their usual bullish selve,s claiming the deal will go ahead in a couple of days. I'd be very surprised if that happens, we've yet to see the colour of Green's money.
The Newco will apply to join the SPL. That will take 2 weeks for the meeting to be arranged.
The Oldco will be needed for the Newco to get the 8 votes required for SPL membership. I don't see this as being as straight forward as the weegdia are making out, I'm sure some of the Chairmen will see this differently.
Transfer embargoes are/will be still in place. Green's investors won't like this, nor the fact that players are able to leave if they wish.
There is still the little matter of the 3 year (mimimum) Euro ban and the double contract investigations. Green's investors won't like this.
Getting accepted into the SPL won't be easy. As I said yesterday, the Chairmen can't/won't accept a Newco application without the deal having been completed and the main investors known and Green will have difficulty finding investors with so many question marks hanging over the Huns.
Be patient brothers! This still has a long way to run, and the good guys will win in the end!
:hnet:
:cb
Beeb article on who may vote for what > http://www.bbc.co.uk/sport/0/football/18422397
The important bit:
Quote:
Hibernian: Rod Petrie is the SPL chairman who has made the strongest comments against a 'newco' Rangers being granted admission, saying: "Integrity is beyond purchase. It's not a question of any sum of money in return for that integrity.
"It's important to us that the integrity of the competition that we take part is maintained to the highest standards."
"It's important that all clubs can have a place within football provided they have have earned it in a sporting sense and have abided by the rules," added Petrie.
So if the Oldco still exists when the season starts, what happens next? Can the registration be taken from the oldco and given to the newco and a vote taken on where they start? What happens with the punishments? Will the oldco just be left to die and all focus will be on the newco?
Well no, transfers of the share are allowed as it's a membership based league.Quote:
Originally Posted by hibbyfrankie
Dundee only have a right when invited to join.
The oldco will still be around and would make the proposal to transfer their share to newco before any liquidation takes place.
If a liquidation took place and there was no newco there then Dundee would get their inviatation. If the SPL vote no to the transfer then Dundee will get the invitation.
What a fricking mess...all caused by Rangers.
If the SFA/SPL had any baws at all they would say that it is clear at this point there is far too many uncertainties to even contemplate scheduling Rangers being active in the top flight next season..they are after all now certain to be liquidated (why it's going to take another 6 weeks I have no idea) so are certain not to be able to fulfil their fixtures next year.
The absolutely clear and unambiguous decision to take to protect the inegrity of the SPL next year is to promote Dundee now.
Rangers will then have to re-form and re-apply to the SFL as per the SFL's schedule and rules. These are pretty clear as they have do this quite frequently. Of course other teams could also apply and be considered on merit.
None of the above is 'unfair' on Rangers and all of the above could be clarified within a few days. The future of Scotland’s top flight of football would be clarified and Rangers would have a clear route to follow (follow).
The fact this has not happened is ONLY because they are Rangers, part of the Old Firm...this in itself shows the institutionalised bias inherent within the Scottish game and it is this point that should be the main focus of the media and fans alike...if the game is ever to progress the step change has to happen now. Sadly this seems to be the last thing anyone is talking about and the last thing that is likely to happen.
One question I am unclear on as regards this SPL vote on a newco.
As I see it, there is no need for a vote until oldco officially become liquidated and therefore no longer exist, until that officially happens we still have ALL present clubs in the SPL.
Once oldco are liquidated we are then a club short in the SPL and need a vote.
Question - How can a club that has been liquidated and doesn't exist, have a vote on ANYTHING? they simply won't exist. If they do exist, there's no need for a vote.
It seems to me that this overlap between Oldco and Newco has the potential to cause massive issues. I can't help but feel this has been manufactured by D+P to somehow keep Rangers alive. Why is it taking so long to liquidate?
You ever tried buying a house in under 6 weeks? :greengrinQuote:
Originally Posted by Bajillions
Quote:
Originally Posted by MB62
The clubs will really be voting on whether to allow the license to be transferred from OldCo to NewCo.
Is it possible this is all delay tactics from D&P, Greene etc?Quote:
Originally Posted by MB62
The longer its left, the less time we've got until the season starts. Say the club gets liquidated a fortnight to before the new season, the spl would be forced into making a quick decision into who will take their place. With Dundee set up for Div 1 football, promoting them so late would be both unfair to them and would leave Div 1 short with the same scenario in Div 2, Div 3. Will the SPL chairmen get their arm twisted into agreeing this is the easiest option?
Fair point about liquidation - is it now actually official that they will be liquidated or does a liquidator not get appointed properly just yet?Quote:
Originally Posted by SiMar
Once official, you would think that Dundee could be invited, unless the SPL have already had a request to approve a transfer to a new football club.
Quote:
Originally Posted by MB62
The way I see it is that both can't exist at the same time.
They are not in liquidation yet. I am not sure when that will heppen... it may be at the end of the 28-day cooling-off period, or it may be when the assets are transferred. It may be today :greengrinQuote:
Originally Posted by Andy74
It is the latter part that will take the time. As I said above, it's very difficult to buy a house in under 6 weeks, so I see no difference here. (disclaimer:- no-one is yet sure what assets are being transferred. End disclaimer). Remember that the Airdrie administration took years to complete.
Fairy nuff, but that means that the financial transactions will have been completed for the newco to prove they meet the requirements to be a member.Quote:
Originally Posted by HibeeMG
Why not? They are two seperate companies. If the assets are transferred tomorrow then I'd imagine that an application to transfer SPL membership will be made at the same time. Old Co will still hold the SPL share, but New Co will hold all the assets. The Old Co is not liquidated yet as liquidation and the ensueing investigations can take years.Quote:
Originally Posted by WindyMiller
Two compnaies can, the fact is they would be looking to transfer the licence from one to the other so they could quite easily both be around.Quote:
Originally Posted by WindyMiller
Mind you, they both can't have a ground and players and newco might not have any players but might have a ground. Bizarre!
I once went to see a flat on the Sunday. It was mine by the Thursday. :agree:Quote:
Originally Posted by CropleyWasGod
The ideal scenario now would be for Greene to walk if the SPL vote goes against Rangers, leaving BDO/HMRC to effect a public sale of the assets, OR for them to challenge the sale to Greene in the first place. Is this likely, or are BDO content to chase former directors etc?
Quote:
Originally Posted by Bajillions
I thought I'd read some where the UEFA/ FIFA rules don't permit this to happen :pray: Not 100% though ..
Having seen todays developments and for whats gone on in the past IMO Rangers WILL be relegated to the lower divisions.
SPL can't continue to ignore this nonsense - they will have to make a decision soon.
NEWCO & UEFA: ExplanationQuote:
Originally Posted by LeithenHibby
Chapter 2: Licence Applicant and Licence
Article 12: Definition of licence applicant
1) A licence applicant may only be a football club, i.e. a legal entity fully responsible
for a football team participating in national and international competitions which
either:
a) is a registered member of a UEFA member association and/or its affiliated
league (hereinafter: registered member); or
b) has a contractual relationship with a registered member (hereinafter: football
company).
2 The membership and the contractual relationship (if any) must have lasted at
the start of the licence season, for at least three consecutive years. Any
alteration to the club's legal form or company structure (including, for example,
changing its headquarters, name or club colours, or transferring stakeholdings
between different clubs) during this period in order to facilitate its qualification on
sporting merit and/or its receipt of a licence to the detriment of the integrity of a
competition is deemed as an interruption of membership or contractual
relationship (if any) within the meaning of this provision.
As a newco you haven't been in an association, you need 3 years history before you are eligible, this is why a newco will face 3 years as it has no history so is automatically uneligible to compete.
Something along these lines maybe? Lifted this from another forum
And 28 days from now is?...the 12th of July.Quote:
Originally Posted by CropleyWasGod
If der huns are liquidated on that day then i might start going back to St Pats! But not until after i spend the day in bed with a few bottle o' sparkly laughing like the ******* son of Sid James and Mutley while w***ing myself into a stupour.
Happy happy days!
Wafting? If it's that warm in your house, turn the heating down. It's summer FFS!Quote:
Originally Posted by sadtom
But there is no newco, so how can there be a vote, apparently happening on Monday, to transfer a licence that does not, and might not ever exist?Quote:
Originally Posted by HibeeMG
It was reported today I believe, that any newco would take at least 14 days to set up, so again we are at the question of, how can you vote on something that is not there to be voted on?Quote:
Originally Posted by CropleyWasGod
I just don't see how oldco can have any say/vote on something that will be directly linked to them, this is more than sporting integrity it's just basic ethics. For example, if Rod happened to be on a three man panel on whether P.F. should be punished for his gesture at the cup final, he would not be allowed to vote due to self interest, same goes for oldco.
1two, just as we are spending time posting and reading on Hibs.net, wishing and hoping that Anger FC disappear down a big bottomless hole with a one way ticket to hell stapled to their manky blue collars I am sure that the Hun/Weeg media/corrupt businessmen alliance that is working most of the strings on this whole mess are spending even more time than us trying to:
> keep the evil beast of RFC alive
> make as much money out of it (e.g. D&P) as possible
> bombard everyone in Scotland with their rotten blue tinged view of the world, i.e. Rangers mustn't die/Scottish football will die without Rangers etc. in a pathetic attempt to make everyone possessed of a brain believe in their lie.
This attitude that they all have, all the pish spouting pundits on TV, radio and in the papers, Whyte, Greene, Murray, Sally McCoist etc. is just plain insulting to everyone who doesn't think like them. What they fail to realise is that everyone else who isn't them has a brain and a free spirit and an interest in things other than their bigoted hate filled cheating stupid little bankrupt footbal team from Govan. A***holes! :D
Quote:
Originally Posted by 1two
Richard Winton on Twitter saying that a new bidder is in for the club
Walter Smith, James McColl and Douglas Park
@BBCAlLamont: Walter Smith is fronting a new bid for Rangers, with Jim McColl and Douglas Park involvedQuote:
Originally Posted by moff1875
There's always one. Do one :greengrinQuote:
Originally Posted by Hibbyradge
VVVVVVVVV
Walter Smith leading new bidQuote:
Originally Posted by moff1875
There are 12 SPL shares in existence - that doesn't change. One of those shares is held by Rangers FC and they are proposing to transfer that share to a company that has just or will soon be set up - you can obtain a company online in about an hour for a payment of £13 now - and the impending vote is to determine whether or not the current 12 holders of the shares approve the transfer. Rangers are entitled to vote as the current holders of a share in the same way that a prime minister is entitled to vote in a general election. If RFC disappeared before a newco was formed the share would revert to the SPL board to be offered to another club, probably Dundee subject to a similar vote of the remaining 11 clubs plus the SPL board, but the share would not cease to exist.Quote:
Originally Posted by MB62
This is no real surprise.Quote:
Originally Posted by moff1875
The opportunity to buy a debt free Rangers for little more than £5.5m, regardless of where they are playing their football next season, is a very attractive offer.
Mad Vlad might even consider it :greengrin
What - they're moving to Hamilton with the boy from the Beechgrove Garden as owner?Quote:
Originally Posted by Bajillions
STATEMENT FROM WALTER SMITH
"I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club.
"I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective - that Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.
"With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the "Newco" basis on which Mr Green is proceeding.
"We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.
"None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the Club.
"However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.
"Let's be clear, this is an acquisition designed to stabilise the Club and ensure history does not repeat itself.
"We are not in this to take money out of the Club but more so to do whatever it takes in a turnaround plan to ensure within a few years the Club can be passed on intact and to the right people.
"The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the Club inside and out to control its destiny.
"The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.
"I would hope that this offer is fully supported by everyone in the Rangers Family as without them the Club cannot and will not survive.
"We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for
STATEMENT FROM WALTER SMITH
"I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club.
"I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective - that Rangers Football Club should be in the ha...nds of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.
"With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the "Newco" basis on which Mr Green is proceeding.
"We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.
"None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the Club.
"However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.
"Let's be clear, this is an acquisition designed to stabilise the Club and ensure history does not repeat itself.
"We are not in this to take money out of the Club but more so to do whatever it takes in a turnaround plan to ensure within a few years the Club can be passed on intact and to the right people.
"The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the Club inside and out to control its destiny.
"The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.
"I would hope that this offer is fully supported by everyone in the Rangers Family as without them the Club cannot and will not survive.
"We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for."
Nice bit of attention-seeking from Walter there. I always thought that Douglas Park was a yam but there you go.Quote:
Originally Posted by shezer
Statment from WallyQuote:
Originally Posted by Peevemor
"None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the club.
"However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.
"Let's be clear, this is an acquisition designed to stabilise the club and ensure history does not repeat itself.
"We are not in this to take money out of the club but more so to do whatever it takes in a turnaround plan to ensure within a few years the club can be passed on intact and to the right people.
"The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the club inside and out to control its destiny.
"The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.
"I would hope that this offer is fully supported by everyone in the Rangers Family as without them the club cannot and will not survive.
"We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for."
1500:
Walter Smith statement
"I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club.
"I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective - that Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.
"With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the "Newco" basis on which Mr Green is proceeding.
"We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.
"None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the club.
"However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.
"Let's be clear, this is an acquisition designed to stabilise the club and ensure history does not repeat itself.
"We are not in this to take money out of the club but more so to do whatever it takes in a turnaround plan to ensure within a few years the club can be passed on intact and to the right people.
"The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the club inside and out to control its destiny.
"The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.
"I would hope that this offer is fully supported by everyone in the Rangers Family as without them the club cannot and will not survive.
"We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for."
Brilliant- cant help themselves, Rangers Family, blah blah balh - as for "return the institution to the standards it is known for." you can only maks it up
Quote:
Originally Posted by AberGreen
Is Wattie as thick as the rest of them?
It will be a NEW club.
There is no history.
:na na:
According to Forth news, Walter Smith and the guy Parks from Parks of Hamilton have contacted Duff and Duffer to say they are interested in buying rangers under the NEWCO status
Quote:
Originally Posted by Joe's ice cream
What's that then?
Back to dragging Scottish Football and Scotland itself through the gutter?
No thanks.
:rolleyes:
ooooooer! that's impressive. Parks made their money by running scab buses during the miner's strike! gave them the capital for a new fleetQuote:
Originally Posted by MB62
Ha ha finally the original agenda of this whole farcical saga becomes clear. Ever get the feeling you've been cheated:faf:Quote:
Originally Posted by Bajillions
So technically walter could be using the money hes taken through EBTs to buy the club?
The merry-go-round continues...
ExactlyQuote:
Originally Posted by Spike Mandela
If they're not interested in owning rangers and only look to protect the clubs history etc where were they before the oldco were finished
This is the most reassuring statement on this thread! Wonder when Doncaster will make a statement to the same effect?Quote:
Originally Posted by Caversham Green
Greene does not stand a chance now.
I thought he was one of the very few who did not get any money from the EBT?Quote:
Originally Posted by bernz
But Duff and Duffer have assured us all that the deal with Greene is binding...:cbQuote:
Originally Posted by johnbc70
Totally with you there Spike, I fully believe that this announcement is the culmination of several months of behind the secret blue doors midnight meetings...
....and that this was ALWAYS WHAT WAS MEANT TO HAPPEN by those really working the strings. I believe a lot of the pish we have seen and heard over the past weeks was just a deliberately planned smokescreen to trick everyone and all along Herr Valter Hitler has been planning this along with "Rangers family friends". Sorry need to dash to the toilet now and throw up... :@
Quote:
Originally Posted by Spike Mandela
Aye it is, Chuckie will be asked to step aside... :rolleyes:Quote:
Originally Posted by Paisley Hibby
Potential for Hun civil war if Charlie sticks to his guns.Quote:
Originally Posted by Paisley Hibby
Doesn't stop Greene selling to them. Clearly McCoist was aware of this deal and his threat of resigning this morning helping to make Green even more unpopular. Crooks and cheats the lot of them.Quote:
Originally Posted by Paisley Hibby
Next the crusade about Sir Walter and Saint Ally the men that can be trusted by the SPL. RP and co don't have a chance.
Until fans say they wont buy season tickets and players say they wont transfer to Green's newco.Quote:
Originally Posted by Paisley Hibby
They do if they stick to their guns. Regardless who in charge, they cheated, they take their punishment.Quote:
Originally Posted by Spike Mandela
The same Walter Smith that helped spend Rangers into this situation?
Mind you, at £5.5 million for all those assets I might just pop into the bank tomorrow with a buisness plan.
Apparently Sir Walter Cheats consortium offering £6m. Hardly the massive increase in cash that would tempt administrators out of a binding deal unless consortium relying on public pressure to force Green to walk away. Unless this has been planned all along of course.
There is no mechanism for that.Quote:
Originally Posted by BroxburnHibee
Although might be seen as pedantic (wouldn't be the first time) The more clarity over some of this stuff the better as the amount of mis-information is frightening.
Member SPL clubs can vote whether to allow transfer of share (just be glad this was changed or it would have been board) or not. What happens after that is of no concern / influence of SPL.
SPL/SFL have no arrangements / agreements to the effect of what happens next to a 'league less' club
Should it be a NO the NewCo would have to apply to SFL as there is no automatic right / system for them to go into their league....
Will any of the succulent lamb brigade have the balls to ask Sir Walter Cheat about his EBT payments in his first press conference?Quote:
Originally Posted by bernz
Don't be silly:rolleyes:
Rangerstaxcase tweeting, asking mainstream journos to ask about HIS EBT's, especially what he received while managing Scotland and Everton. Maybe Wally just needs to get his hands on some sensitive documents and the RFC shredder.
According to the BBC investigation, there weren't any.Quote:
Originally Posted by Spike Mandela
http://www.bbc.co.uk/news/uk-scotlan...-west-18148818
Hmmmm... is it me, or was Uncle Watty (and his backers) waiting for others to do the dirty work and get Rangers liquidated, so that they could come in and be seen as the "saviours" of the club because it's not their fault that the club will be liquidated?Quote:
Originally Posted by Spike Mandela
They haven't seen evidence of any, which is different to there not being any :wink:Quote:
Originally Posted by CropleyWasGod
Remember these may only be the ones the BBC are aware of. RTC may have more info. In fact they seem pretty adamant.Quote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by CropleyWasGod
Bugger! :cb
Might still be worth asking though!
:agree: we must do everything to ensure this is the case an pull up press etc when they start banging on about records etc.Quote:
Originally Posted by johnrebus
No History No cup or league wins No stars on shirts....its just MK Dons with bigitory