Jason Orange? i don't think the Rangers fans would take that....
RAOFL :D
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Jason Orange? i don't think the Rangers fans would take that....
RAOFL :D
Neck sticking out time here.
I am with Cav... I don't think the £5.5M is for the lock, stock and barrel. The CVA document clearly sets out the £5.5m payment as split between £200k for the exclusivity fee, and £5.3m for Intellectual Property Rights, Goodwill and Players' Contracts. There is no element allocated to Property.
http://www.rangers.co.uk/staticFiles...~177097,00.pdf Page 37
Also, the fact that the deal has been done so quickly suggests that no property was involved. Conveyancing, especially of 3 different properties, one of which has Listed status, another of which has Planning restrictions, would take a lot longer.
The question has to be asked.
There is also a n/a beside property under the CVA scenario.Quote:
Originally Posted by CropleyWasGod
Today's events are potentially disastrous for Rangers. Civil war is likely between Green (who now holds the assets and has paid £5.5M for them) and "Rangers people" and their friends in the media. All of which makes it much more difficult to get things in place to put up a serious bid to get in a league next season.
Yeah, because the property was irrelevant to the CVA. The only time the property value comes into play is when there is a liquidation.Quote:
Originally Posted by Part/Time Supporter
The liquidation and newco scenarios mention a deduction of £600,000 due to SportScotland. This relates to the failure to adhere to the terms of a grant given for building Murray Park. Ergo I believe there must be a change in ownership of Murray Park from RFC (IA) to the newco.Quote:
Originally Posted by CropleyWasGod
Me neither mate. I get the bit that HMRC did not want a CVA because that would have prevented them going after the real culprits. But as biggest creditor they held all the cards anyway? So why agree to the £5.5m sale in the event of the CVA failing - it was always going to fail?Quote:
Originally Posted by Benny Brazil
If that is the case, then the intangible assets, as I said above, are valued at £5.3m... and the fixed assets at £nil.Quote:
Originally Posted by Part/Time Supporter
The notes to that statement talk about a "change of use" for Murray Park triggering the repayment to the SSC. If the football assets (ie the club) are now owned by another company, there is arguably a change of use. It is no longer used by that company (RFCIA) as a football training facility... it is used by another company (NewCo), and RFCIA merely own it, and allow NewCo to use it/lease it to them.
So does that means the Newco now has the property?Quote:
Originally Posted by CropleyWasGod
I am suggesting that they don't. In fact, I would be surprised now if they do.Quote:
Originally Posted by Paisley Hibby
However, like I say, somebody has to ask the question.
Charles Green says the newco have applied for a place in the SPL but surely there is no vacancy if the original Glasgow Rangers are still in the league?????????. Should the administrators not first resign from the SPL to create a vacancy for the new club? Obviously if they were to resign, or be expelled, they would quite rightly not be able to vote on their replacement???
The is how it will play out:Quote:
Originally Posted by Part/Time Supporter
- Greeny boy will state he's in it for the long haul but has little or no dosh for working capital
- huns want their heroes in place so will refuse to buy season tickets
- Smith will offer Green less than 5 million to take a potentially disastrous investment off his hands as season ticket sales fail to materialise
- Walter will come riding in on the white charger to pick up the pieces.
However, if Green recognises this scenario quickly enough he can walk away quickly with a wee wedge for his troubles as a pay-off from Smith.
However, with a bit of luck, these shenanigans will take weeks to play out.
http://www.sportyou.es/blog/futbol/2...ce-416012.html
This Spanish site already has the Rangers in the 3rd division next season. Hope they are ahead of our media. :thumbsup:
Good article.......apologies if already posted
http://www.scotsman.com/sport/footba...ault-1-2352653
STV are claiming that Green DOES on the Stadium and Training ground. http://sport.stv.tv/football/clubs/r...s-memberships/
STV also said, earlier in this whole affair, that CW was taking VAT off players' wages. :rolleyes:Quote:
Originally Posted by Bajillions
I wouldn't necessarily rely on them, in other words. They don't mention the Albion car park either.
Rangers: Definitely not the smartest guys in the room.
The oldco will exist for some time yet - as CWG pointed out liquidations can take years to complete - it just won't have any assets. It will continue to be the SPL share owner until such time as a transfer is approved or it surrenders the share to the SPL board.Quote:
Originally Posted by WindyMiller
Thanks CWG. I'd love you to be right but the property issue is so fundamental it must be covered somewhere else - or Greene's advisers have made the most enormous cock up...Quote:
Originally Posted by CropleyWasGod
Rangers latestLIVE
Former manager Walter Smith leads a new bid to buy Rangers as the club decline to comment on speculation regarding manager Ally McCoist.
Who cares?, and anyway where's he getting all the money from?
Quote:
Originally Posted by Bajillions
Going to get very messy now.
Over to you Wattie, are you just going to stand there and take this?
:take that
I am sure that HMRC/BDO will be asking the relevant questions, even if STV aren't :rolleyes:Quote:
Originally Posted by Paisley Hibby
Quote:
Originally Posted by HIBERNIAN-0762
I think a lot of people WILL care!!!!!!!
It's too late. The guy Green already has bought the club.
That's the news from the Beeb anyway.Quote:
Originally Posted by Steve20
You really wonder what is going on what with the timing of Walter's bid and the supposed imminent departure of Fat Ally.
What's your latest view on the "assets", Cav? Do you think the property is in there?Quote:
Originally Posted by Caversham Green
Charles Green claimed that Ian Hart was a member of his consortium only for Ian Hart to flat out deny it and say he is actually supporting Walter Smith! Crazy!
Quote:
Originally Posted by johnrebus
He managed to take it for four months until the club he loves is liquidated.:cb
All that were missing here is a seriously nasty hostile takeover bid. Has Spotty run out of puppets?
Ach, give him a break. His wife only just woke him up.Quote:
Originally Posted by Spike Mandela
:rolleyes: