Generic Sevco / Rangers meltdown thread

[HibbyDave]

Of more interest to me is whether or not "Newco Rankgers" walk straight into SPL. If they do I can only hope that we win the holy grail because I will never attend another Scottish (SPL) football match after the final.

I work too hard to give my cash to a corrupt organisation full of self interest. Oh yes, still waiting for a statement from Hibs on our position regarding this if they go into liquidation.

Let's not get too wrapped up in the cup final mania to take our eye off the ball here.
GGTTH

[ACLeith]

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I've long suspected them buying another club, Airdrie style, was the most logical route out of this, mainly as there is precedent for it...

IIRC Airdrie took Clydebank's place in the league they were in at the time? So assuming Cowdenbeath get promoted, then the taken-over club would be in the first division?

[Famous Fiver]

CWG

Thanks for your information. Excellent as always.

I just don't want to see them get away with paying a penny less to the taxman than what is due.

I've just posted off my annual tax return, doesn't need to be in until 31st October btw, but I am keen to ensure I stay on the right side of the taxman. If I don't they are down on me like a ton of bricks for a few hundred quid. Nothing like the mega millions RFC are trying to get away with.

[The Falcon]

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Of more interest to me is whether or not "Newco Rankgers" walk straight into SPL. If they do I can only hope that we win the holy grail because I will never attend another Scottish (SPL) football match after the final.

I work too hard to give my cash to a corrupt organisation full of self interest. Oh yes, still waiting for a statement from Hibs on our position regarding this if they go into liquidation.

Let's not get too wrapped up in the cup final mania to take our eye off the ball here.
GGTTH

I think its a bit unfair asking that the club officially comment on a situation that they have no control over and, in reality, till something happens that may affect Hibernian then it is purely an internal matter for Rangers.

[CropleyWasGod]

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CWG

Thanks for your information. Excellent as always.

I just don't want to see them get away with paying a penny less to the taxman than what is due.

I've just posted off my annual tax return, doesn't need to be in until 31st October btw, but I am keen to ensure I stay on the right side of the taxman. If I don't they are down on me like a ton of bricks for a few hundred quid. Nothing like the mega millions RFC are trying to get away with.

<sigh> I wish all my clients were like you.

The bill is in the post.

[greenginger]

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IIRC Airdrie took Clydebank's place in the league they were in at the time? So assuming Cowdenbeath get promoted, then the taken-over club would be in the first divisioney ?

If Rangers F C in administration buy Cowdenbeath to re-start their existence in the SFL they should always be referred to by all other clubs as Cowdenbeath F C to mock them forever.

Also the idea that they could somehow transfer their history to a New-Co or a club they buy is bizarre.

If the liquidated assets of Rangers F C were sold off and say Ross County out bid the New - Co for Rangers good-will ( history ) would anyone seriously believe Ross County if they claimed to have won fifty league titles and countless cups ?

If der Hun is liquidated their history is liquidated as well, if they want to keep their history let them propose a 10 - 20 year plan to repay all their creditors in full including interest.

[CropleyWasGod]

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I think its a bit unfair asking that the club officially comment on a situation that they have no control over and, in reality, till something happens that may affect Hibernian then it is purely an internal matter for Rangers.

I would agree.

I would also add that putting one's views into the public domain at this stage might give "the other side" advance warning of one's position. It's often best in these situations to keep the powder dry until it's needed.

[HibbyDave]

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I think its a bit unfair asking that the club officially comment on a situation that they have no control over and, in reality, till something happens that may affect Hibernian then it is purely an internal matter for Rangers.

I understand that. Other club chairmen (Dunfermline, Dundee utd I think) have stated their opposiiton to Newco retaining SPL status. Our board traditionally say nowt and that's OK to some extent. Meanwhile the people who alledgely matter - the fans are being asked to pay up front for season tickets etc when we don't even know if our own future is in Div 1 or SP Hell. I would simply ask RP to state Hibs position regarding the morality of Newco retaining a place IF it come to pass that Rankgers are liquidated. It's not meaningless speculation, the SPL is a big business and the paying public should be worthy of some insight into where the board are taking the club.

Also, if Rankgers were demoted to DIV 3 they would return quickly and more importantly they would be spreading wealth through the lower Divs with their massive travelling support that everyone seems to depend on for their balance sheet figures.

Still let's focus on the distraction of the cup and let all this "big finance" matters lie with those who Ken aboot these things.

GGTTH

[Green Man]

Chris McLaughlin reporting that Bill Ng has withdrawn his bid now.

Are there any bidders left?

[CropleyWasGod]

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Chris McLaughlin reporting that Bill Ng has withdrawn his bid now.

Are there any bidders left?

Just the American asset-stripper.

[lapsedhibee]

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Chris McLaughlin reporting that Bill Ng has withdrawn his bid now.

Are there any bidders left?

I'm happy to put £1 into any consortium that can overcome the problem of bulldozing a listed building.

[down the slope]

This ,
http://www.bbc.co.uk/sport/0/football/17783064
is this a Singapore sling ?.

[CentreLine]

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Chris McLaughlin reporting that Bill Ng has withdrawn his bid now.

Are there any bidders left?

Is today, 20th April, not a very significant date in the process? I think I read on one of CWG's posts that D&F had to have a progress meeting of some sort by this date. Would that be with creditors or with the court that appointed them?


It looks like, one by one, the bidders are realising that Rangers are a basket case. I wonder when D&F will get their heads round that too

[CentreLine]

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If Rangers F C in administration buy Cowdenbeath to re-start their existence in the SFL they should always be referred to by all other clubs as Cowdenbeath F C to mock them forever.

Also the idea that they could somehow transfer their history to a New-Co or a club they buy is bizarre.

If the liquidated assets of Rangers F C were sold off and say Ross County out bid the New - Co for Rangers good-will ( history ) would anyone seriously believe Ross County if they claimed to have won fifty league titles and countless cups ?

If der Hun is liquidated their history is liquidated as well, if they want to keep their history let them propose a 10 - 20 year plan to repay all their creditors in full including interest.

Hmmm, wonder how much they will bid for Hahahahearts. They can offer Romanov a small amount for the club and would not have any need for a ground so Romanov could then dispose of that at a small profit and get himself out of Scotland all together. Win win for the subscribers to the cheats charter

[DaveF]

Sheesh - Is this saga still going on?

Someone shoot the *******. It's the only humane way.

[CropleyWasGod]

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Is today, 20th April, not a very significant date in the process? I think I read on one of CWG's posts that D&F had to have a progress meeting of some sort by this date. Would that be with creditors or with the court that appointed them?


It looks like, one by one, the bidders are realising that Rangers are a basket case. I wonder when D&F will get their heads round that too

I don't think today is too significant, unless you're a Nazi sympathiser.

Today, AFAIK, is a statutory procedural meeting of creditors.

However, given the events of this week, it could turn out to be more than that. I am sure that the admins hoped to be able to tell creditors that they had a preferred bidder in place. Now the meeting could be a little uncomfortable for them.

[CropleyWasGod]

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Sheesh - Is this saga still going on?

Someone shoot the *******. It's the only humane way.

Um... humane? GTF

[hibs0666]

Seeing as there is only one bid still standing, why can't Duff & Duffer not name their 'preferred bidder' right now?

[Hibernia&Alba]

Ng is out, but some Huns seem to think the Blue Knights are back in. Anyone know?

[CropleyWasGod]

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Seeing as there is only one bid still standing, why can't Duff & Duffer not name their 'preferred bidder' right now?

The BK only "stood back" from the process. Now that Billy Ng has withdrawn, maybe Ticketus will get back into bed with them.

[stokesmessiah]

Does anyone actually know when the wages revert back to the their usual levels? Is it the end of the season? I am sure i had read somewhere it was until the end of April but it may be a figment of my imagination.

[JeMeSouviens]

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I just don't want to see them get away with paying a penny less to the taxman than what is due.

There is not a snowball's chance in hell of that happening. There are only 2 feasible options:

1. They exit admin via CVA, an agreement whereby HMRC would have to accept something like £10M in full settlement of whatever they are finally owed whether that's £15M or £95M.

2. They liquidate (whatever spin they try and put on this, this is the death of the current Rangers Football Club) and their assets are sold. Since Ibrox is of **** all use for anything other than a football stadium, the usual logic is that the best value for the assets will be realised by selling them in one lump to a Newco.

As HMRC are usually implacably opposed to football CVAs and the difference in the sum available from the 2 options is likely to be not that great, option 2 is far more likely.

[Green Man]

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Does anyone actually know when the wages revert back to the their usual levels? Is it the end of the season? I am sure i had read somewhere it was until the end of April but it may be a figment of my imagination.

End of the season according to this

[JeMeSouviens]

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Does anyone actually know when the wages revert back to the their usual levels? Is it the end of the season? I am sure i had read somewhere it was until the end of April but it may be a figment of my imagination.

1st of June.

[hibs0666]

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Does anyone actually know when the wages revert back to the their usual levels? Is it the end of the season? I am sure i had read somewhere it was until the end of April but it may be a figment of my imagination.

Dunno, but the huns cash runs out in June.

[Saorsa]

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Sheesh - Is this saga still going on?

Someone shoot the *******. It's the only humane way.

Shoot? Humane? nah! Hang them with piano wire.

[CropleyWasGod]

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Dunno, but the huns cash runs out in June.

increasingly important this is.

[ScottB]

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IIRC Airdrie took Clydebank's place in the league they were in at the time? So assuming Cowdenbeath get promoted, then the taken-over club would be in the first division?

Yup, they'd end up in the league of whatever club they bought.

Frankly it's almost as distasteful as the newco option, to kill a club to save their own rotting carcass, but as there is a precedent for it with Airdrie, they couldn't be stopped.

I don't think Airdrie even incurred any punishments for it either, so of all ways that would be the one that would truly get them off scot free. A pity the nonsensical fair play rules didn't consider this gambit.

[Newry Hibs]

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Yup, they'd end up in the league of whatever club they bought.

Frankly it's almost as distasteful as the newco option, to kill a club to save their own rotting carcass, but as there is a precedent for it with Airdrie, they couldn't be stopped.

I don't think Airdrie even incurred any punishments for it either, so of all ways that would be the one that would truly get them off scot free. A pity the nonsensical fair play rules didn't consider this gambit.

But aren't Airdrie Utd just Clydebank with a different name? So any titles and history Clydebank had carry on with Airdire Utd (I know probably in name only as they are effectively Airdrieonions (sp)). Who do old Cydebank and Airdrieonions fans support?

In England MK Dons are credited with the FA Cup win in 1988 - although they did pass on the 'moral victory' to AFC Wimbledon.

[jgl07]

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But aren't Airdrie Utd just Clydebank with a different name? So any titles and history Clydebank had carry on with Airdire Utd (I know probably in name only as they are effectively Airdrieonions (sp)). Who do old Cydebank and Airdrieonions fans support?

There was a sort of poetic justice about the demise of Clydebank as they originally tried to do that to East Stirlingshire in the mid-1960s. The club moved to Clydebank for a year and competed as ES Clydebank before a legal challenge restored the team back to Falkirk. Clydebank were admitted to the league in their own right the following season.

Clydebank tried to move to Dublin in the 1990s. I think this was vetoed by the SFL or the SFA and the club continued its decline eventually playing at Boghead.

After Clydebank were renamed as Airdrie United and moved to Aidrie, the clubs crest and name was passed on to the supporters group and the Clydebank was reformed in the Juniors, right back where they started.