Generic Sevco / Rangers meltdown thread

[Newry Hibs]

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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.

Are they still going? I do remember one bleak cup defeat there 20 or so years ago. Was surprised it was an all seater stadium!

[Seveno]

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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 that everything that has come out of our club suggests that they will vote for sporting integrity. There is no point in making any statement until it is fully known what is left to vote on. It might not need a vote if Rangers totally disappear.

[Seveno]

How would we feel if they bought Hearts ? Hilariously funny at first, but longer term ?

[CentreLine]

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How would we feel if they bought Hearts ? Hilariously funny at first, but longer term ?

Longer term would be just fine since they would move the whole thing to Glasgow. Only one team in Edinburgh but there would still be that residual rivalry when they came to town

[Moulin Yarns]

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Airdrieonions .

[Hibernia&Alba]

Who's this Miller guy on SSN? I don't know anything about him.

[jgl07]

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Are they still going? I do remember one bleak cup defeat there 20 or so years ago. Was surprised it was an all seater stadium!

I believe that Kilbowie was the first all-seater stadium in Scotland (although Aberdeen have a claim).

Jack Steedman was too mean to put in new crash barriers and worked out that it was cheaper to put bench seating in.

Kilbowie was sold for development and the team groundshared with a number of clubs. When they were at Boghead they printed the name of every season ticket holder in the programme!

They seem to be going really well in the Juniors now.

http://www.clydebankfc.co.uk/2012/

[cabbageandribs1875]

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How would we feel if they bought Hearts ? Hilariously funny at first, but longer term ?

Hertz could then be officially Edinburgh Rangers, instead of just kid-on Diet ones

[7 Hills]

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How would we feel if they bought Hearts ? Hilariously funny at first, but longer term ?

Would they want to take on Hearts' debts though? I think they'd be more likely to target a club such as Livingston, or one of the smaller SPL sides.

[Part/Time Supporter]

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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?

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

They're not. MK Dons gave the history to Merton Council.

http://news.bbc.co.uk/sport1/hi/foot...on/6927439.stm

[linlithgowhibbie]

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

From their goolies?:pfgwa

[grunt]

CWG / CG - your next challenge is to explain what an incubator company is, and does it mean the end for Rangers?

[CropleyWasGod]

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CWG / CG - your next challenge is to explain what an incubator company is, and does it mean the end for Rangers?

Fuctifano.

Is this a new buzz-word? I canny keep up with that stuff.

Where's my abacus?

[Caversham Green]

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CWG / CG - your next challenge is to explain what an incubator company is, and does it mean the end for Rangers?

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Fuctifano.

Is this a new buzz-word? I canny keep up with that stuff.

Where's my abacus?

Fuctifanoanaw.

The only incubation thing I'm aware of is business incubation which I believe is broadly a hand holding exercise for start-up companies. I don't know a lot about it, but it soulds like a glorified business consultancy dedicated to new companies - charge a fortune to tell them stuff that me and Crops would have said at basic charge out rates.

What's the context here grunt?

[grunt]

Alasdair Lamont ‏ tweets -
Bill Miller has unveiled plans for an #11.2million bid for Rangers which would create an "incubator" company that effectively works to radiate the toxicity of past administrations' sins out of the patient while the healthy heart is preserved
Bill Miller: "In order to preserve the club's history, records, championships and assets, I will put the heart of the club.....while Duff and Phelps bid to take the club out of administration through a CVA... and moves forward."
He has suspended his offer until Monday to allow other bidders to "put up or shut up".
Miller: Of the 3 qualified bidders, I'm the only 1 who refused to entertain offers from Ticketus or engage in discussions with Craig Whyte.
BM: It's difficult for me to see how any parties who were present when this awful situation was created can be a legitimate part of solution
BM After careful evaluation of a CVA, it's become apparent there are substantial roadblocks and risks associated with such an approach.
BM says as things stand, Ticketus could block CVA as the debt to them is greater than 25% of total amount owed
There is no way that Ticketus would agree to accept a "pence on the pound" settlement as has been suggested by others.
It is apparent that there will be several lawsuits that will emerge in relation to a potential CVA exit among the various creditors...and claimants (you pick them), which will need to be settled by the courts.

[grunt]

BM I have held a series of talks over the past week with officials from the SPL and SFA in an effort to ensure Rangers play in the 2012/13..

season without further points deductions, fines or other punitive sanctions, relating to either the terms of my purchase
...or the actions of the prior administrations, beyond those levied during the 2011/12 season.

BM My offer is contingent upon the regulatory bodies agreeing the club will begin play in the 2012/13 season in the SPL and that they will
...do so without any loss of points and with all historic titles intact. I will not acquire the club unless I receive written assurances...

[JeMeSouviens]

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CWG / CG - your next challenge is to explain what an incubator company is, and does it mean the end for Rangers?

Just another name for a newco. It's all smoke and mirrors designed to let them whisk the corpse of the old Rangers out the back door while they bring in the tax dodging body double through the front.

[Caversham Green]

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Alasdair Lamont ‏ tweets -
Bill Miller has unveiled plans for an #11.2million bid for Rangers which would create an "incubator" company that effectively works to radiate the toxicity of past administrations' sins out of the patient while the healthy heart is preserved
Bill Miller: "In order to preserve the club's history, records, championships and assets, I will put the heart of the club.....while Duff and Phelps bid to take the club out of administration through a CVA... and moves forward."
He has suspended his offer until Monday to allow other bidders to "put up or shut up".
Miller: Of the 3 qualified bidders, I'm the only 1 who refused to entertain offers from Ticketus or engage in discussions with Craig Whyte.
BM: It's difficult for me to see how any parties who were present when this awful situation was created can be a legitimate part of solution
BM After careful evaluation of a CVA, it's become apparent there are substantial roadblocks and risks associated with such an approach.
BM says as things stand, Ticketus could block CVA as the debt to them is greater than 25% of total amount owed
There is no way that Ticketus would agree to accept a "pence on the pound" settlement as has been suggested by others.
It is apparent that there will be several lawsuits that will emerge in relation to a potential CVA exit among the various creditors...and claimants (you pick them), which will need to be settled by the courts.

Sounds similar to a pre-pack administration arrangement done in retrospect, but I can't see how it would avoid all the Newco pitfalls that are discussed at length on this very thread. It sounds like the end is nigh....

[JeMeSouviens]

Bill Miller:

"My offer is contingent upon the regulatory bodies agreeing the club will begin play in the 2012/13 season in the SPL and that they will do so without any loss of points and with all historic titles intact. I will not acquire the club unless I receive written assurances"

That'll be him offski then. Even the super craven SPL won't provide written assurances *before* the vote, will they? So, back to Kennedy and the Blue Knights again ...

[Killiehibbie]

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Alasdair Lamont ‏ tweets -
Bill Miller has unveiled plans for an #11.2million bid for Rangers which would create an "incubator" company that effectively works to radiate the toxicity of past administrations' sins out of the patient while the healthy heart is preserved
Bill Miller: "In order to preserve the club's history, records, championships and assets, I will put the heart of the club.....while Duff and Phelps bid to take the club out of administration through a CVA... and moves forward."
He has suspended his offer until Monday to allow other bidders to "put up or shut up".
Miller: Of the 3 qualified bidders, I'm the only 1 who refused to entertain offers from Ticketus or engage in discussions with Craig Whyte.
BM: It's difficult for me to see how any parties who were present when this awful situation was created can be a legitimate part of solution
BM After careful evaluation of a CVA, it's become apparent there are substantial roadblocks and risks associated with such an approach.
BM says as things stand, Ticketus could block CVA as the debt to them is greater than 25% of total amount owed
There is no way that Ticketus would agree to accept a "pence on the pound" settlement as has been suggested by others.
It is apparent that there will be several lawsuits that will emerge in relation to a potential CVA exit among the various creditors...and claimants (you pick them), which will need to be settled by the courts.

Thay can't possibly work as there is nothing healthy that can be saved, certainly not a heart.

[hibs0666]

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Fuctifano.

Is this a new buzz-word? I canny keep up with that stuff.

Where's my abacus?

I think it's a wee ruse to get round the SPL rules on liquidation to be honest, but still assumes that an offer to creditors of around £9 million will be deemed acceptable.

[CropleyWasGod]

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Bill Miller:

"My offer is contingent upon the regulatory bodies agreeing the club will begin play in the 2012/13 season in the SPL and that they will do so without any loss of points and with all historic titles intact. I will not acquire the club unless I receive written assurances"

That'll be him offski then. Even the super craven SPL won't provide written assurances *before* the vote, will they? So, back to Kennedy and the Blue Knights again ...

Seriously?

Forgive me for being cynical, but that sounds a bit like getting his excuses in first. "I coulda saved dat club, if it wasn't for those pesky kids at the Ess Pee Ell".


Gotta love those Yanks..." radiate the toxicity of past administrations' sins out of the patient while the healthy heart is preserved"

[grunt]

When I take a step back from the detail of all this, I realise that there's not one of the three bidders that I would want as owner of our club.

[CropleyWasGod]

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Alasdair Lamont ‏ tweets -
Bill Miller has unveiled plans for an #11.2million bid for Rangers which would create an "incubator" company that effectively works to radiate the toxicity of past administrations' sins out of the patient while the healthy heart is preserved
Bill Miller: "In order to preserve the club's history, records, championships and assets, I will put the heart of the club.....while Duff and Phelps bid to take the club out of administration through a CVA... and moves forward."
He has suspended his offer until Monday to allow other bidders to "put up or shut up".
Miller: Of the 3 qualified bidders, I'm the only 1 who refused to entertain offers from Ticketus or engage in discussions with Craig Whyte.
BM: It's difficult for me to see how any parties who were present when this awful situation was created can be a legitimate part of solution
BM After careful evaluation of a CVA, it's become apparent there are substantial roadblocks and risks associated with such an approach.
BM says as things stand, Ticketus could block CVA as the debt to them is greater than 25% of total amount owed
There is no way that Ticketus would agree to accept a "pence on the pound" settlement as has been suggested by others.
It is apparent that there will be several lawsuits that will emerge in relation to a potential CVA exit among the various creditors...and claimants (you pick them), which will need to be settled by the courts.

Gotta love his arithmetic too.

Total debt £134m. Ticketus £27M?

20%, Billy Boy.

[Caversham Green]

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Seriously?

Forgive me for being cynical, but that sounds a bit like getting his excuses in first. "I coulda saved dat club, if it wasn't for those pesky kids at the Ess Pee Ell".


Gotta love those Yanks..." radiate the toxicity of past administrations' sins out of the patient while the healthy heart is preserved"

TBF to Wullie M, if I was bidding for RFC I'd only be interested if they were guaranteed an SPL place next season as well. It's Duff & Phelps expecting unconditional bids in the current circumstances that are the real baddies IMO.

[grunt]

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Gotta love his arithmetic too.

Total debt £134m. Ticketus £27M?

20%, Billy Boy.

Looks like he's ignoring the BTC

[CropleyWasGod]

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Looks like he's ignoring the BTC

...or maybe, just maybe, he knows something that we don't.

[JeMeSouviens]

Crazy schemes of Miller continued ...

“In order to preserve the club’s history, records, championships and assets, I will put the “heart” of the club into an “incubator” company while Duff & Phelps works to make the “sick patient” healthy through a CVA process that effectively works to “radiate” the toxicity of past administrations’ sins out of the patient while the “healthy heart” is preserved and moves forward. Once the CVA process has been completed and the patient is on the mend, the administrators will return Rangers Football Club plc to me for a nominal sum.
The healthy heart and the healthy patient (The Rangers Football Club plc) will then be reunited through merger. In this scenario, the club can continue with all of its business assets, including its history, protected from the present illness.
Thus a new corporate entity will own the club’s assets during the incubation period including all of its history.
Any suggestion that Rangers history is lost by such a process is preposterous."

Somebody please tell me that even the desperately Hun accommodating Scottish football authorities won't wear this pish.


http://www.scotsman.com/sport/footba...full-1-2246439

[CropleyWasGod]

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Crazy schemes of Miller continued ...



Somebody please tell me that even the desperately Hun accommodating Scottish football authorities won't wear this pish.


http://www.scotsman.com/sport/footba...full-1-2246439

Okay, he has talked about hearts, and radiation, and incubators.

Where does he mention the cocks and anuses that follow the Huns?

[Caversham Green]

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Crazy schemes of Miller continued ...



Somebody please tell me that even the desperately Hun accommodating Scottish football authorities won't wear this pish.


http://www.scotsman.com/sport/footba...full-1-2246439

I don't see how they can. The SPL still have to vote on proposals raised by their own board (I assume) that contravene his conditions. Giving written confirmation in those circumstances would be fraudulent.