Generic Sevco / Rangers meltdown thread

[down the slope]

What if the uglies had got into the premier league do you think they would merit special status if they got into financial difficulty ? , you bet they would not and so the same should apply here .

[Paisley Hibby]

Sorry if posted elsewhere but this is the heading of a great article about Rangers in today's Times by Paul Forsyth. At last! a journalist with the guts to call it right! Can't post link as you need to subscribe to see online but here is an extract

"We are the victims", said a headline on the club's website. It is, by any standards, an imaginative take on the situation. If they are the victims, what does that make the people and businesses to whom they owe money, the rivals denied success in the years when Rangers overspent and the SPL clubs who have been left to clean up the mess? Sure the 12 month embargo was severe and the timing unfortunate, but the SFA only adhered to the rules agreed unanimously by members. You cannot on the one hand call for independent disciplinary procedures and then, when the outcome is not to your liking, blame the SFA for it. If the decision jeopardises Rangers' future, that is Rangers fault. No one else's.

[CropleyWasGod]

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Been away, so apologies if this has already been posted.
A bit technical, but a good read.

http://web3dlaw.wordpress.com/2012/0...nd-forthright/

As far as I am aware, this was dealt with in the early days of the process. D and P are quite clear that CW does not have a valid security.

[grunt]

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As far as I am aware, this was dealt with in the early days of the process. D and P are quite clear that CW does not have a valid security.

Hmm, based on what, I wonder? D&P have been pretty clear on a number of things, deadlines included, which have later transpired to be less than crystal clear.

[CropleyWasGod]

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Hmm, based on what, I wonder? D&P have been pretty clear on a number of things, deadlines included, which have later transpired to be less than crystal clear.

Based on the premise that RFC owe the holding company nothing. If there is no debt, there is no security.

[grunt]

Ah, yes, I can see that would work.

[grunt]

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Based on the premise that RFC owe the holding company nothing. If there is no debt, there is no security.

Answer from web3dlaw:

[Because of the way Whyte structure the deal. It was a leveraged buyout. He took the Ticketus cash paid into an account at law firm Collyer Bristow and paid off the RFC debt owned to Lloyds TSB. He then had the security held by Lloyds over Rangers assigned to Wavetower. Perfectly legitimate and makes Wavetower (wholly owned by CW) a secured creditor.

[CropleyWasGod]

[QUOTE=grunt;3199933]Answer from web3dlaw:

[Because of the way Whyte structure the deal. It was a leveraged buyout. He took the Ticketus cash paid into an account at law firm Collyer Bristow and paid off the RFC debt owned to Lloyds TSB. He then had the security held by Lloyds over Rangers assigned to Wavetower. Perfectly legitimate and makes Wavetower (wholly owned by CW) a secured creditor./QUOTE]

But Wavetower aren't owed anything. Wavetower paid off the bank, and used the Ticketus money to do so.

[crewetollhibee]

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What if the uglies had got into the premier league do you think they would merit special status if they got into financial difficulty ? , you bet they would not and so the same should apply here .

Best quote on this whole thread for me !!

[Ozyhibby]

Bloke from D&P just said latest bid from blue knights too low and Bill Miller bid conditional on a free pass from SPL and SFA.

[Hibernia&Alba]

I was busy last night and didn't have time to look at the two bids placed yesterday, so apologies for being behind the times. Are either of the bids remotely viable, folks?

[Jack]

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Bloke from D&P just said latest bid from blue knights too low and Bill Miller bid conditional on a free pass from SPL and SFA.

I wish Duff and Duffer would just admit this and that no bid is even close to being realistic and shut the buggers down.

Anything else and they are being negligent, IMO ;-)

[SteveHFC]

Chick young w***ing furiously over Rangers on sportsound

[down-the-slope]

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I wish Duff and Duffer would just admit this and that no bid is even close to being realistic and shut the buggers down.

Anything else and they are being negligent, IMO ;-)

they are just hanging on till last match of the season.....as this would prevent even more sanctions and make them even harder to get rid of

[Ozyhibby]

I would rather they drag it on a bit longer. Liquidation is a certainty.
The problem they have is that they are fast running out of time to start a newco, go to court to get ibrox from Craig whyte, work out who entitled to start the newco, and get a team together before august. It may already be to late to acheive all that.

[SteveHFC]

Jim Traynor on Sportsound just now:

If Rangers play in the 3rd division. Scottish Football will suffer. Piss off you utter clown

[jgl07]

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Jim Traynor on Sportsound just now:

If Rangers play in the 3rd division. Scottish Football will suffer.

He is right. It will be very bad for Scottish Football if Rangers are not wiped from history.

Rangers should never be allowed back into the SFL after their crude attempt to intimidate officials.

[down-the-slope]

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Jim Traynor on Sportsound just now:

If Rangers play in the 3rd division. Scottish Football will suffer. Piss off you utter clown

They say one thing and then contradict themselves in the next answer......hardly a sane response among them....

[Northernhibee]

Pic at the start of their little day out.

Bet that many people winnae be turning out for a rainy Wednesday evening game against East Stirling, the glory hunting *******s.

OFGTF

[Hibernia&Alba]

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I would rather they drag it on a bit longer. Liquidation is a certainty.
The problem they have is that they are fast running out of time to start a newco, go to court to get ibrox from Craig whyte, work out who entitled to start the newco, and get a team together before august. It may already be to late to acheive all that.

That'll be my question answered. I did hear a wee snippet about the Blue Knights bid being conditional upon a CVA and acquisition of Whyte's shares, and thought "aye, piece of cake"

[BarneyK]

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Pic at the start of their little day out.

Bet that many people winnae be turning out for a rainy Wednesday evening game against East Stirling, the glory hunting *******s.

OFGTF

The SNP seem to have upset them...

[ian cruise]

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Jim Traynor on Sportsound just now:

If Rangers play in the 3rd division. Scottish Football will suffer. Piss off you utter clown

I agree with traynor. All of the division 3 clubs fans will suffer and the season after the division 2 clubs. And we will all have to still suffer the ignorant rantings of mccoist and co.

[Ferryhibby]

Not a lover of these gits or their ugly sister, but why are huns so determined to stay in the spl when for years they have been tryin to get out of it, it really is unbelievable that they cant see the bigger picture and the lifeline the SFA have offered them, not allowed to sign a player over the age of 18 means they will have to use there u19 team and the other players who wanrt to stay, i am a great fan of youth football especially scottish youth football, givin these guys a season or two in the top flight can only be good for our national game and our national team, even if the young guys get their game theyl still get all the big decisions at each ground from their refs and linesman. All this scaremongering by them telling us that huns not in the top league is bad for scottish football....really scottish football extends far beyond the SPL and having the East Stirlings, Peterheads etc getting the gate money from them means they can invest in younger players and bring them along which, if the p[layers are good enough will make their way to the top flight anyway, just think for the long term effects for the whole of our game turfing these gits into the 3rd tier would be good for our game.

[Moulin Yarns]

Monday will be a big day. SPL meeting to decide on financial fair play as well as the sensible 10 putting forward their proposals.

[Northernhibee]

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The SNP seem to have upset them...

They're no exactly good at the whole "getting people on their side" thing, are they?

[Since90+2]

Just on Sportsound that Raith Rovers (a board member was on the SFA Panel) have had to have police at Starks Parks over the last 24 hours due to threats to torch the ground.

[Dashing Bob S]

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Jim Traynor on Sportsound just now:

If Rangers play in the 3rd division. Scottish Football will suffer. Piss off you utter clown

These Scottish weedgia dolts have bought into the whole mindset of apologising for Rantic for so long, they'd be trumpeting the same Tom Kite seeking to exonerate those vile clubs from any conceivable atrocity they perpetuated.

It's fascinating how the entire house of cards of Scottish football, the authorities, the media, are now paying the price for their craven indulgence of the OF and their bigoted, anti-competitive and anti-sport ethos throughout the years. Consequently, they now look even more ridiculous than usual, and anybody with sense ignores the Scottish media and looks south for a proper analysis of this situation. It's just utterly ludicrous how they insist on perceiving an anti-sport organization of cheats, who have stolen massive funds from the public purse to bolster their own egos, as the pitiful victims in this sordid situation. The only pitiful thing is their own pathetic endorsement of those thieves and tyrants. Traynor is just another sneaky fat kid in the playground trying to curry favor with the school bullies. Like Young, Keevins and the rest of those timid slavers, he's joke of a journalist.

[Hibernia&Alba]

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Just on Sportsound that Raith Rovers (a board member was on the SFA Panel) have had to have police at Starks Parks over the last 24 hours due to threats to torch the ground.

This is madness. Their catalogue of shame is thicker than the Argos catalogue. Nail bomb convictions and threats of arson on the same day from those quinessentially British, law abiding citizens. Just ask the population of Manchester.

[Brando7]

http://www.bbc.co.uk/sport/0/football/17879835

Another revised bid from Murray...how many that now?

Just shut the doors!!!

[Malthibby]

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'Scottish football can survive without the Old Firm. It'll mean other clubs have the chance to be successful' - Walter Smith 1999

Folk should be chucking this at the meeja every chance they get. Hypocritical, syncophantic bellends almost without exception.
GG also stands for Gloria Gaynor.