Generic Sevco / Rangers meltdown thread

[Hibbyradge]

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Quote from todays Daily Express. "SFA Chief Executive Stewart Regan is confident the SFA's Independent Enquiry into the on-going problems at rangers will be brought to a close this week"

Assuming that is accurate, am I the only one that thinks this has been concluded with unseemly haste? After all we are getting fresh revelations and accusations made on a daily basis. Surely the SFA is not attempting to wind this up before the real dirty washing is on display. I am wondering whether in fact the enquiry should not have been conducted by UEFA so as to increase the likelihood of genuine independent comment and openness. Few would question the verdict and SFA/SPL would not be able to squirm out of the findings if they went against their beloved rangers.

I guess it depends on the findings.

[CentreLine]

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I guess it depends on the findings.

Yes, but those findings can only be based on what we already know. My point is that there appears to be a lot more dirt under the fingernails than we have seen to date. If the SFA publish something this coming week surely it has to be an interim finding

[greenlex]

Are D&P doing their job right?
Reported £!M per month shortfall. They have they been there 3 weeks and not one cost cutting measure. If I was owe money I would be absolutely livid.

[Seveno]

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Are D&P doing their job right?
Reported £!M per month shortfall. They have they been there 3 weeks and not one cost cutting measure. If I was owe money I would be absolutely livid.

They have got rid of Smith and Russell. Not much admittedly but it was a start.

I have to say though that I agree with the sentiment of your post and I am a bit suspicious of their role in this whole affair.

[cad]

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Quote from todays Daily Express. "SFA Chief Executive Stewart Regan is confident the SFA's Independent Enquiry into the on-going problems at rangers will be brought to a close this week"

Assuming that is accurate, am I the only one that thinks this has been concluded with unseemly haste? After all we are getting fresh revelations and accusations made on a daily basis. Surely the SFA is not attempting to wind this up before the real dirty washing is on display. I am wondering whether in fact the enquiry should not have been conducted by UEFA so as to increase the likelihood of genuine independent comment and openness. Few would question the verdict and SFA/SPL would not be able to squirm out of the findings if they went against their beloved rangers.

Maybe the SFA are just trying to get it over an done with then move on ,or maybe the utter uselessness of how they perform on a daily basis would come to light with a UEFA investigation, the players contracts are a starter for 10.

[Hibbyradge]

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They have got rid of Smith and Russell. Not much admittedly but it was a start.

I have to say though that I agree with the sentiment of your post and I am a bit suspicious of their role in this whole affair.

As far as I understand it, their primary role is to keep Rangers solvent.

[CropleyWasGod]

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Are D&P doing their job right?
Reported £!M per month shortfall. They have they been there 3 weeks and not one cost cutting measure. If I was owe money I would be absolutely livid.

I wouldn't.

It's not just about cutting costs. They have to maximise income too.

Being able to establish the story about the Ticketus cash, and get the missing cash back, was a big step.

They also have to have an eye on the potential sale of the club. There is a balancing act between keeping saleable assets, which boost the selling value of the club, and cutting current costs.

[CropleyWasGod]

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As far as I understand it, their primary role is to keep Rangers solvent.

Not quite. It's to look after the interests of the creditors and shareholders.

[CropleyWasGod]

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As I've said before CWG, whether the charge is effective or not depends on the terms of the loans between RFC and RFCG and that would require sight of the loan and security documentation!

We're just going to have to wait till the Administrators have reviewed that and decided how to proceed thereafter!

It seems they may have.

From Today's Record:-

The Record understands that administrators believe Whyte has no power to break up the club’s assets and keep Ibrox, Murray Park and the Albion Car Park for himself.


If this is true, it is very significant. Establishing this is a big step, and gives me comfort that the admins are doing things the right way.

[johnrebus]

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Quote from todays Daily Express. "SFA Chief Executive Stewart Regan is confident the SFA's Independent Enquiry into the on-going problems at rangers will be brought to a close this week"

Assuming that is accurate, am I the only one that thinks this has been concluded with unseemly haste? After all we are getting fresh revelations and accusations made on a daily basis. Surely the SFA is not attempting to wind this up before the real dirty washing is on display. I am wondering whether in fact the enquiry should not have been conducted by UEFA so as to increase the likelihood of genuine independent comment and openness. Few would question the verdict and SFA/SPL would not be able to squirm out of the findings if they went against their beloved rangers.

I think you can bet that there will be Celtic fans all over the globe feverishly sending off email to Geneva as we speak, insisting that UEFA start poking around in earnest.

And I hope they do.

[EuanH78]

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I think you can bet that there will be Celtic fans all over the globe feverishly sending off email to Geneva as we speak, insisting that UEFA start poking around in earnest.

And I hope they do.

That reminds me, I must send an email to Rangers and thank them for bringing such drama and excitement to an otherwise stale and boring SPL setup.

[Seveno]

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That reminds me, I must send an email to Rangers and thank them for bringing such drama and excitement to an otherwise stale and boring SPL setup.

Particularly kind of them considering that things have gone quiet over at our usual source of entertainment at the PBS.

[EuanH78]

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Particularly kind of them considering that things have gone quiet over at our usual source of entertainment at the PBS.

Agreed, Vlad clearly not wanting to steal the limelight. Such a magnanimous chap.

[EuanH78]

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Given some of the posts on here about the SFA bias towards any investigation of GRFC, perhaps Vlad is merely sitting back gloating.
His rants about the Glasgow and SFA mafia seem to be given some creedence albeit indirectly.

On another note, it has been reported that some Rangers fans are going to attend Dunfermline's home game to boost the attendance because of the reported missing payment of £80k.
Not a bad gesture if it takes off in good numbers.

To be honest, I always felt he at least had a point about that albeit delivered in the craziest way he could manage.

That actually is a decent gesture from them, luckily though they wont have far to travel from Cowdenbeath and Glenrothes.

[southern hibby]

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Given some of the posts on here about the SFA bias towards any investigation of GRFC, perhaps Vlad is merely sitting back gloating.
His rants about the Glasgow and SFA mafia seem to be given some creedence albeit indirectly.

On another note, it has been reported that some Rangers fans are going to attend Dunfermline's home game to boost the attendance because of the reported missing payment of £80k.
Not a bad gesture if it takes off in good numbers.

If this is true, then I for one actually am impressed by this. Their own team is in trouble and a certain amount of fans are actually thinking about a far smaller team that their clubs actions have harmed. A very honourable action. GGTTH

[Keith_M]

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If this is true, then I for one actually am impressed by this. Their own team is in trouble and a certain amount of fans are actually thinking about a far smaller team that their clubs actions have harmed. A very honourable action. GGTTH

If they actually turn up.

[ScottB]

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If this is true, then I for one actually am impressed by this. Their own team is in trouble and a certain amount of fans are actually thinking about a far smaller team that their clubs actions have harmed. A very honourable action. GGTTH

Definitely to be applauded if it takes place.

In the rush to 'enjoy' this situation, I think some folk tend to forget that not all Rangers fans are knuckle dragging bigoted morons.

[Dashing Bob S]

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Given some of the posts on here about the SFA bias towards any investigation of GRFC, perhaps Vlad is merely sitting back gloating.
His rants about the Glasgow and SFA mafia seem to be given some creedence albeit indirectly.

On another note, it has been reported that some Rangers fans are going to attend Dunfermline's home game to boost the attendance because of the reported missing payment of £80k.
Not a bad gesture if it takes off in good numbers.

Even a couple of hundred local bloaters who pretend to be Huns, leaving their replica tops at home and waddling along to East End from their local boozer would help DAFC at the moment.

[Ozyhibby]

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Definitely to be applauded if it takes place.

In the rush to 'enjoy' this situation, I think some folk tend to forget that not all Rangers fans are knuckle dragging bigoted morons.

I'll need to see some proof of that.

[Dashing Bob S]

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I'll need to see some proof of that.

I too, require some physical evidence.

[Eyrie]

If they leave with ten minutes to go, then you'll know they're Huns.

Still a nice gesture though.

[J-C]

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Not if they're liquidated, right?

And even if they survive admin (somehow) the Hun can simply not by a ST and Ticketless get nothing...

At the moment, it's all hypothetical until we find out exactly what's going on.

[BSEJVT]

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Not if they're liquidated, right?

And even if they survive admin (somehow) the Hun can simply not by a ST and Ticketless get nothing...

Thats my view

Ticketus's arrangement is with the current LTD Co

That will fall and I think Ticketus will be an unsecured creditor to the current Ltd co

[CropleyWasGod]

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Thats my view

Ticketus's arrangement is with the current LTD Co

That will fall and I think Ticketus will be an unsecured creditor to the current Ltd co

Only in the event of liquidation. While the administration continues, the only liability would be for any repayments that are currently due.

I also understand that Ticketus have insurance in place that would cover their outlay in the event of liquidation.

[greenginger]

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Thats my view

Ticketus's arrangement is with the current LTD Co

That will fall and I think Ticketus will be an unsecured creditor to the current Ltd co

Whyte got security over Ibrox and Murray Park when Lloyds Bank was paid off . I'd be amazed if Ticketus did'nt get at least a second ranking security over those assets if they were putting up £ 24 million.

[CropleyWasGod]

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Whyte got security over Ibrox and Murray Park when Lloyds Bank was paid off . I'd be amazed if Ticketus did'nt get at least a second ranking security over those assets if they were putting up £ 24 million.

There isn't one.

The only security is in favour of the holding company, which the admins now seem to think is invalid.

Don't forget that Ticketus aren't a lender. They bought 100k season tickets; that is their security, underpinned by the insurance I mentioned. CW also claims he has guaranteed the deal, although that might be Whyte.

[Cropley10]

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In the interests of fair play, which is something I hope we have and which der Hun lacks. Supposing fans of other clubs had objected to our return to football in 1990 (had we been liquidated)?

People could level the same charge of cheating against us. We got into trouble because we were spending money that didn't exist. We managed to salvage the football club from the wreckage, and then went on to win the League Cup three monts later.

What's sauce for the goose, etc.

(btw my answer to the question is: so what, this is the horrible huns we are talking about, and they have been acting against the interests of other clubs for 100 years, and deserve everything they are about to get off with.

How much did we owe HMRC? And how many illegal contracts did we have

[greenginger]

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There isn't one.

The only security is in favour of the holding company, which the admins now seem to think is invalid.

Don't forget that Ticketus aren't a lender. They bought 100k season tickets; that is their security, underpinned by the insurance I mentioned. CW also claims he has guaranteed the deal, although that might be Whyte.

You don't need to be a lender to get a security, liquidation was always a likely outcome so I would be surprised if the deal was done without some sort of back-up. There would be no necessity to record the security and Ticketus might be playing their cards close to see how things pan out.

[cabbageandribs1875]

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If this is true, then I for one actually am impressed by this. Their own team is in trouble and a certain amount of fans are actually thinking about a far smaller team that their clubs actions have harmed. A very honourable action. GGTTH

yet this 'honourable' action will not be extended to dundee utd ? indeed , they want to boycott tannadice, honourable ?? pppfffffffftt

[Littlest Hobo]

I hope they go into liquidation, I hope Hearts do too.

Why?

Because they seem to think they can spend money they haven't got without any consequence. Well there has to be a consequence, if that means Rangers or Hearts go down to third division then so be it.

They cannot and should not be allowed any favours.

Sky Sports news on the day the Rangers news broke....on the ticker at the bottom......Rangers go into administration........Rangers bring in Daniel Cusin....you really couldn't make this **** up!

Hearts..bring in Craig Beattie!! WTF is going on, is nobody learning any lessons here? Punishments need meated out and no just a mere 10 points either. RANT OVER!