Generic Sevco / Rangers meltdown thread

[down-the-slope]

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The admins have said that there are some potential buyers who don't want to be known at this stage.

Call me an old cynic, but the surest way to push the sale of something is to suggest that there are others interested.

may be true...or may be the old auctioneer trick of pointing randomly and upping the bid to push up trhe price and create more 'frenzy'

to answer the 'where were they when Murry first keen to sell'

the BTC banck debt etc were all there...so anyone interested must see potential to get ownership with some / all of that liability reduced or gone

[jgl07]

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... yet more reason for letting them go pop, then?

Yes that's about how I see things.

The various scenarios for avoiding liquidation seem very convoluted even assuming that Rangers win the two tax cases. With Ticketus having their claws on the first three years of season ticket money and the prospects of points deductions and no access to Europe for at least one season, it ios going to be tough to put a competitive team on the park.

Going for liquidation and a new club would mean that they would be completely debt free. There are advantages of doing things quickly to put together a club and sort out arrangments for a ground so as to make a decent bid for a SFL3 place. They would be back in the top flight in three seasons and be eligible for Europe. They would be back quicker if there was league restructuring.

Come on Rangers, you know it makes sense!

[WindyMiller]

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The reason why the Administrators have avoided a cull of players is that the prospective bidders have indicated that they do not want to buy a club shorn of its major playing assets. I beleive that the Blue Knights are a load of time wasters without anthing near the resources to mount a serious bid.

I am not really convinced that there is much value in this. Self-evidently the club cannot afford the current playing staff so it will come down to those with any real transfer value come the next window. I do not see that many players that could generate much money as they would have been sold in the last window. You never good good prices in what amounts to a fire sale.

Also will the 75% or 50% pay cuts give any entitlement to a free transfer on account of breach of contract? Any player who wished could probably engineer a free transfer. The wage cut will end after three months and any player who refused transfers lined up and insisted on a return to full wages might be able to get a better deal elsewhere as a free agent.

They've only got to say that the don't like the new owners, apparently.

Clark also confirmed the existence of a “Craig Whyte clause" in the contracts of some of the bigger-name players in the Rangers squad.

“I didn’t make it clear on Friday about this Craig Whyte clause. I should make it clear now. It’s not in everybody’s contract but there are a number of players who did want a clause that said something like, should Craig Whyte either retain or regain, control of the club then they would be entitled to a free transfer.

“That’s in there for a number of them. More than a handful have that in their contracts, the ones who have most likely got value.

“What the senior players are saying is that, if this football club moves into the hands of somebody we trust, then we want to remain at Rangers. It should not be seen as the players taking an opportunity to get themselves away on a free transfer in the summer. They’re saying: ‘Like everybody else here, we’ve been through a lot and we’re not happy with what’s gone on and what we don’t want is for this to continue and to be stuck in a club where we don’t want to be without break from our contract. You’re asking us to make a big contribution. Well, we need to have flexibility’. And, to me, that’s a fair compromise.” Clark is adamant that Whyte, above, has no future at Rangers and that, ideally, a new owner will be in place before the end of the current season.

[CropleyWasGod]

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Yes that's about how I see things.

The various scenarios for avoiding liquidation seem very convoluted even assuming that Rangers win the two tax cases. With Ticketus having their claws on the first three years of season ticket money and the prospects of points deductions and no access to Europe for at least one season, it ios going to be tough to put a competitive team on the park.

Going for liquidation and a new club would mean that they would be completely debt free. There are advantages of doing things quickly to put together a club and sort out arrangments for a ground so as to make a decent bid for a SFL3 place. They would be back in the top flight in three seasons and be eligible for Europe. They would be back quicker if there was league restructuring.

Come on Rangers, you know it makes sense!

I know it makes sense

You know it makes sense.

Most commercial opinion knows it makes sense.

It makes even more sense over the road.

But there is something about the emotion and macho-ness of football that blinds people to that sort of thinking.

[joe breezy]

http://www.philmacgiollabhain.ie/sit...red/#more-2260

[WarringtonHibee]

[...WentToMowAnSPL]

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[Eyrie]

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Bit expensive - you could buy their entire club for that.

[I'm_cabbaged]

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Bit expensive - you could buy their entire club for that.

CW could've had his cake and ate it for the same price!!

[spike220]

The gift that keeps that keeps giving



Or in his case evidently not!!

[JeMeSouviens]

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I'm sure Paul Murray and the Bluenose Knights are just making sure they get a seat at the table. Any offer will be conditional on numerous conditions that the administrators can't guarantee at the moment so the process will run until the BTC is decided.

Agree with that. I think it's also positioning themselves as the true inheritors of Hundom. When someone eventually presses start on the liquidiser there will be nothing to stop more than one interested party setting themselves up as the NewHuns. It's looking pretty unlikely that Whyte will get that chance now, but I'm sure it was part of his original plan. I think Paul Murray & co are making sure they are seen as the only game in town.

[Spike Mandela]

Are Hearts now the second biggest club in Scotland in terms of wages?

[hibs0666]

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The gift that keeps that keeps giving



Or in his case evidently not!!

Looks like someone has just rammed a floating charge up his jacksey.

[21.05.2016]

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[Andy74]

The administrators have been talking this weekend about how the most important thing now is to get the club under new ownership.

Why is this and why is it important?

A football club should just be run so that it lives within its means. Suggesting a new owner is important seems to be saying that you are again looking for someone to invest as opposed to allow the club to be run properly.

Surely this is wrong and the most important job for the administrators should be getting the company back into shape in terms of outgoings not exceeding its income.

A new owner can then just get on with trying maximise income and so on.

If Rangers get sold on to a new' investor' with new promises then just nothing is being learned here about football finance.

[Part/Time Supporter]

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Are Hearts now the second biggest club in Scotland in terms of wages?

Dunno about overall wage bill, but Obua will be getting paid more than any Rangers player.

[CropleyWasGod]

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The administrators have been talking this weekend about how the most important thing now is to get the club under new ownership.

Why is this and why is it important?

A football club should just be run so that it lives within its means. Suggesting a new owner is important seems to be saying that you are again looking for someone to invest as opposed to allow the club to be run properly.

Surely this is wrong and the most important job for the administrators should be getting the company back into shape in terms of outgoings not exceeding its income.

A new owner can then just get on with trying maximise income and so on.

If Rangers get sold on to a new' investor' with new promises then just nothing is being learned here about football finance.

Not quite, Andy.

The most important job for the administrators is to work on behalf of the creditors and shareholders, and maximise their position. If that means getting a new owner in with lots of money, that's their job done.

The problem of how to run the company in the future then becomes that of the new owner.

(Incidentally, if this is what the admins are now saying, it's a shift from last week when they said that their preferred option was the CVA route.)

[CropleyWasGod]

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Agree with that. I think it's also positioning themselves as the true inheritors of Hundom. When someone eventually presses start on the liquidiser there will be nothing to stop more than one interested party setting themselves up as the NewHuns. It's looking pretty unlikely that Whyte will get that chance now, but I'm sure it was part of his original plan. I think Paul Murray & co are making sure they are seen as the only game in town.

Now joined by another ex-Jambo.

http://www.heraldscotland.com/news/h...e-bid.17000787

And a little bit more info about how Ticketus are to be involved.

http://www.dailyrecord.co.uk/2012/03...6908-23785167/

As I thought, it's about providing cash until they (Ticketus) can get a way out. According to that report, that will happen when there is a share issue. Given the failure of the last share issue, that may not be as straightforward as they think.

[Peevemor]

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The gift that keeps that keeps giving



Or in his case evidently not!!

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Looks like someone has just rammed a floating charge up his jacksey.

... or his finger just went throught the toilet paper?

[CropleyWasGod]

And another one

http://www.bbc.co.uk/news/uk-scotlan...-west-17340834

[Spike Mandela]

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And another one

http://www.bbc.co.uk/news/uk-scotlan...-west-17340834

Care to unravel that one for the layman CWG?

[CropleyWasGod]

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Care to unravel that one for the layman CWG?

As I understand it:-

1. the pension fund (doesn't say if it was related to RFC), was thinking about lending RFC £2.9m.

2. it was only thinking about it!!

3. according to the pension fund, the money was held in the famous Collyer Bristow client account.

4. the money was paid over without authorisation (by the solicitors presumably) to RFC.

If all that is true, CB will get their erse felt by the Law Society at the very least. Lawyers on here will be able to tell you if it's criminal as well.

[jgl07]

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As I understand it:-

1. the pension fund (doesn't say if it was related to RFC), was thinking about lending RFC £2.9m.

2. it was only thinking about it!!

3. according to the pension fund, the money was held in the famous Collyer Bristow client account.

4. the money was paid over without authorisation (by the solicitors presumably) to RFC.

If all that is true, CB will get their erse felt by the Law Society at the very least. Lawyers on here will be able to tell you if it's criminal as well.

This and other legal disputes involving Whyte, Ticketus, and HMRC suggests that all this talk of a quick sale and a move out of administration is pie in the sky nonsense.

It is stretching things enough to say that a sale could go through with up to £55 millions in tax disputes to resolve even with the mythical 'Treasury approved deal'. It is even more implausible with legal actions from different parties contesting exactly what will be included in the package for sale.

To think we used to call the Yams deluded!

[JeMeSouviens]

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Now joined by another ex-Jambo.

Sure you're not getting mixed up with Donald? Douglas Park is of the Hamilton bus group/BMW dealers.

[WindyMiller]

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This and other legal disputes involving Whyte, Ticketus, and HMRC suggests that all this talk of a quick sale and a move out of administration is pie in the sky nonsense.

It is stretching things enough to say that a sale could go through with up to £55 millions in tax disputes to resolve even with the mythical 'Treasury approved deal'. It is even more implausible with legal actions from different parties contesting exactly what will be included in the package for sale.

To think we used to call the Yams deluded!

Gives me a warm fuzzy feeling inside.

[WindyMiller]

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Sure you're not getting mixed up with Donald? Douglas Park is of the Hamilton bus group/BMW dealers.

I believe he was on the board at Tynie at some point.




Edit; found this http://webcache.googleusercontent.co...&ct=clnk&gl=uk

[Peevemor]

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Sure you're not getting mixed up with Donald? Douglas Park is of the Hamilton bus group/BMW dealers.

I don't know if it's the same guy (or his son?), but Douglas Park of "Parks of Hamilton" was on the hearts' board in the 80s. He even laid on free buses for the supporters to some key away games.

[lapsedhibee]

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Douglas Park of "Parks of Hamilton" was on the hearts' board in the 80s. He even laid on free buses for the supporters to some key away games.

Can't think of any 'key away games' that Hearts had in the 80s.

[WindyMiller]

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Can't think of any 'key away games' that Hearts had in the 80s.

Did they no win the double back then?

[JeMeSouviens]

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I don't know if it's the same guy (or his son?), but Douglas Park of "Parks of Hamilton" was on the hearts' board in the 80s. He even laid on free buses for the supporters to some key away games.

So he was, mentioned here:

http://www.heartsfc.co.uk/articles/2...241543_1567515

Great article btw, relive the yo-yo years. 81-82 a particular favourite.

With three games left against Dumbarton, Kilmarnock and Motherwell, three points were required for promotion, but the pressure was on, due to injuries and the inevitable suspensions. Against Dumbarton, the team was leading 2-1 at half time, but the 4,861 fans were then stunned when the maroons collapsed in the second period and lost four goals without reply.

Hearts now faced the other two promotion challengers and at Rugby Park the maroons were without four first team players through suspension, but forced a 0-0 draw. However, Gerry McCoy was sent off and this compounded the problems for the final match of the season at home to Motherwell, where a victory was required if the club was to go back to the Premier Division. A crowd of 14,709 came to lend support to a weak Hearts side, but the maroons went down 1-0 and Motherwell and Kilmarnock were promoted.

How we laughed.