Generic Sevco / Rangers meltdown thread

[EuanH78]

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https://twitter.com/bbcchrismclaug/s...04019952111616

SPL meeting adjourned till the 30th.

Absolutely delighted if this turns out to be true

By far the best move by the other teams anyway..

[Spike Mandela]

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Absolutely delighted if this turns out to be true

By far the best move by the other teams anyway..

Why? Surely just leaving the door open for Miller to carry out his 'cunning plan' before any new rules in place. Looks like a cowards Kop out to me.

[green glory]

https://twitter.com/markbenstead/sta...05325441818624

Great news. The issue of the double contracts is being taken seriously. The Huns only have enough money to keep going till the end of the month too.

[CentreLine]

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Caroline Henderson‏@STVCaroline

#SPL have adjourned again until 30th #rangers representatives didn't turn up John Yorkston appeared frustrated and disappointed

Phew! Glad about that because my seat would have lain empty at Hampden if this vote had gone ahead and newco Rangers were to be allowed back in to the SPL. Now I can at least attend the final in good spirits and wait and see what the verdict is from there. Ya beauty!!!!!!

[EuanH78]

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Why? Surely just leaving the door open for Miller to carry out his 'cunning plan' before any new rules in place. Looks like a cowards Kop out to me.

Bit of a gut feeling Spike, I reckon this Miller deal is very unlikely to fly (the more uncertainty the better tbh) I think this was an desperate attempt by admins/ doncaster/ Rangers to flush out the position of the other SPL chairmen and it hasnt worked. With the uncertainty it means Miller doesnt have any assurances or even know what position the club will be in and is likely to cool interest (if it was ever genuine in the 1st place) Remember the Huns are running out of money very soon indeed, a sale needs to happen desperately and anything that throws a spanner in those works is a good thing IMO. I think they will be liquidated and the ashes bought by the BK, no choice but to apply for SFL div 3 - 'Winning' as Charlie Sheen would say.

[ancienthibby]

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Bit of a gut feeling Spike, I reckon this Miller deal is very unlikely to fly (the more uncertainty the better tbh) I think this was an desperate attempt by admins/ doncaster/ Rangers to flush out the position of the other SPL chairmen and it hasnt worked. With the uncertainty it means Miller doesnt have any assurances or even know what position the club will be in and is likely to cool interest (if it was ever genuine in the 1st place) Remember the Huns are running out of money very soon indeed, a sale needs to happen desperately and anything that throws a spanner in those works is a good thing IMO. I think they will be liquidated and the ashes bought by the BK, no choice but to apply for SFL div 3 - 'Winning' as Charlie Sheen would say.

Chris McL:

Rangers administrators asked for meeting to be adjourned, per Neil Donkey.

[greenginger]

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Bit of a gut feeling Spike, I reckon this Miller deal is very unlikely to fly (the more uncertainty the better tbh) I think this was an desperate attempt by admins/ doncaster/ Rangers to flush out the position of the other SPL chairmen and it hasnt worked. With the uncertainty it means Miller doesnt have any assurances or even know what position the club will be in and is likely to cool interest (if it was ever genuine in the 1st place) Remember the Huns are running out of money very soon indeed, a sale needs to happen desperately and anything that throws a spanner in those works is a good thing IMO. I think they will be liquidated and the ashes bought by the BK, no choice but to apply for SFL div 3 - 'Winning' as Charlie Sheen would say.

Forcing Duff and Duffer to put the Beast down, no blood on their hands all the admins fault.

[Suburban Hibby]

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Bit of a gut feeling Spike, I reckon this Miller deal is very unlikely to fly (the more uncertainty the better tbh) I think this was an desperate attempt by admins/ doncaster/ Rangers to flush out the position of the other SPL chairmen and it hasnt worked. With the uncertainty it means Miller doesnt have any assurances or even know what position the club will be in and is likely to cool interest (if it was ever genuine in the 1st place) Remember the Huns are running out of money very soon indeed, a sale needs to happen desperately and anything that throws a spanner in those works is a good thing IMO. I think they will be liquidated and the ashes bought by the BK, no choice but to apply for SFL div 3 - 'Winning' as Charlie Sheen would say.

Does Der Hun not turning up just show the contempt that they hold the others in this league?

Much as i am enjoying the slow painful death of them, I am all for ending them now!

[EuanH78]

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Isn't it the case that Bill Miller has to pay 1/2 million pounds for preferred bidder status? That might indicate a level of interest, whether the interest remains after full disclosure is another matter. It's certainly an odd acquisition for Bill Miller.

That 500k is included in his 11.2M bid IIRC. Certainly not been paid upfront.

[EuanH78]

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Chris McL:

Rangers administrators asked for meeting to be adjourned, per Neil Donkey.

Still in our best interests IMO

[CropleyWasGod]

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Chris McL:

Rangers administrators asked for meeting to be adjourned, per Neil Donkey.

Even althought they weren't there?

[EuanH78]

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Forcing Duff and Duffer to put the Beast down, no blood on their hands all the admins fault.

Cant do multi-quote (sorry all) but yes, this is what I think. Bring it on.

[TheEastTerrace]

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https://twitter.com/bbcchrismclaug/s...04019952111616

SPL meeting adjourned till the 30th.

Of course, from reading Twitter today sounds like the entire club has decamped to Belfast to give it 'No Surrender' with their mates from Linfield!

[EuanH78]

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Cheers,
Does that mean the blue knights also paid £500k or do they only take it from the preferred bidder?

Not entirely sure to be honest, I'll see if I can find where I read that - remember though, at first it was 1M to secure preferred bidder status which somehow (without much comment) became 500k. I would guess that nobody actually wanted to stump it up and it was included in all full bids - I read that as 'a dead horse being flogged' but sure the financial types have their own (more informed) view.

[hibs0666]

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Cheers,
Does that mean the blue knights also paid £500k or do they only take it from the preferred bidder?

Blue knights have paid hee haw.

[CropleyWasGod]

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Not entirely sure to be honest, I'll see if I can find where I read that - remember though, at first it was 1M to secure preferred bidder status which somehow (without much comment) became 500k. I would guess that nobody actually wanted to stump it up and it was included in all full bids - I read that as 'a dead horse being flogged' but sure the financial types have their own (more informed) view.

I remember it as being $1m, not £1m.

And it is only the preferred bidder that pays.

[EuanH78]

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I remember it as being $1m, not £1m.

And it is only the preferred bidder that pays.

Are you sure of that CWG? I seem to remember it beng quoted before international bids were known and it was in £ - what is the exchange rate anyway?

[CropleyWasGod]

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Are you sure of that CWG? I seem to remember it beng quoted before international bids were known and it was in £ - what is the exchange rate anyway?

Nope

[PatHead]

Looks like one of the reasons for the delay was to allow all clubs vote on newco as per BBC

However, an SPL spokesperson said the 11 member clubs present at Monday's meeting "unanimously called for the power to deal with any newco application to be moved from the board to the clubs".
"This requires 21 clear days' notice," added the spokesperson. "The clubs will therefore meet again on 30 May to consider a resolution designed to achieve this.
"In the event that an application for transfer of share to a newco is received before 30 May, then it can be dealt with by the SPL board.
"The SPL board have indicated that they would, in those circumstances, call together the clubs before any such decision was made.
"For the avoidance of doubt, no decision on any transfer of a share to a newco has yet been made; nor has any such application been received.

By the way when does a member club cease to be a member following relegation?

[EuanH78]

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Nope

Anyway still doesnt stack up whether it was $1M or £1M, its now £500k and we'll throw in a gourd and a false beard as well.

[ancienthibby]

Full BBC story:

SPL delay decisions on financial fair play and voting rights

By Chris McLaughlinSenior Football Reporter, BBC Scotland
Scottish Premier League clubs meeting at Hampden have delayed voting on financial fair play rules until 30 May.
Proposed resolutions include the docking of 10 points for two seasons for clubs who wish to transfer their share in the league to a new company.
Dunfermline chairman John Yorkston said clubs were seeking more information.
Rangers, whose prospective owner Bill Miller is keen on a transfer of assets to a newco, did not attend Monday's SPL meeting but asked for the adjournment.
Administrators Duff & Phelps have selected American Miller as preferred bidder to take control of the Ibrox club and he plans to move Rangers' assets, including their share in the SPL, players and premises, to an 'incubator' company whilst the debts of the existing business are dealt with.

SPL PROPOSALS

• Minimum of 15 points deducted from any club entering administration
• 10-point penalty for two seasons for any club that transfers its share in the SPL to a new company
• 75% reduction in payments to any club relaunched as a new company for a period of three seasons
• Requirement for clubs to pay players on time and to report any failure to pay wages
• Requirement for clubs to report any failure to pay PAYE/NIC
• Player registration embargo imposed on any club failing to pay PAYE/NIC

Under current guidelines, an application for transfer of share to a newco would be ruled upon by the SPL board, which comprises chief executive Neil Doncaster, secretary Ralph Topping, Celtic director Eric Riley, Dundee United chairman Stephen Thompson, St Johnstone chairman Steve Brown and Motherwell director Derek Weir.
However, an SPL spokesperson said the 11 member clubs present at Monday's meeting "unanimously called for the power to deal with any newco application to be moved from the board to the clubs".
"This requires 21 clear days' notice," added the spokesperson. "The clubs will therefore meet again on 30 May to consider a resolution designed to achieve this.
"In the event that an application for transfer of share to a newco is received before 30 May, then it can be dealt with by the SPL board.
"The SPL board have indicated that they would, in those circumstances, call together the clubs before any such decision was made.
"For the avoidance of doubt, no decision on any transfer of a share to a newco has yet been made; nor has any such application been received."
The proposed new financial fair play rules, which also include a minimum 15-point penalty for any club entering administration and requirements for clubs to pay player wages on time, were due to take effect from 14 May had they been passed.
"It took a long time to not decide anything," said Yorkston.
"We need to know more information, we were hoping it would get resolved at this meeting.
"We all want to make quick decisions and come out with what the story is but we don't have enough information."
Top flight clubs were also due to vote on whether to change the league's voting stucture but that too has been delayed until the end of May.
A resolution has been proposed to replace the current 11-1 majority required to effect major changes with a 9-3 ballot.

[greenlex]

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Looks like one of the reasons for the delay was to allow all clubs vote on newco as per BBC

However, an SPL spokesperson said the 11 member clubs present at Monday's meeting "unanimously called for the power to deal with any newco application to be moved from the board to the clubs".
"This requires 21 clear days' notice," added the spokesperson. "The clubs will therefore meet again on 30 May to consider a resolution designed to achieve this.
"In the event that an application for transfer of share to a newco is received before 30 May, then it can be dealt with by the SPL board.
"The SPL board have indicated that they would, in those circumstances, call together the clubs before any such decision was made.
"For the avoidance of doubt, no decision on any transfer of a share to a newco has yet been made; nor has any such application been received.

By the way when does a member club cease to be a member following relegation?

So 21 days notice to remove the newco nonsense from the SPL board and back to the clubs. Why wasnt that notice given at or prior to the last meeting? Coveniently gets us past the end of the season now. I smell a dirty great big rat. Not happy at all.

[CropleyWasGod]

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So 21 days notice to remove the newco nonsense from the SPL board and back to the clubs. Why wasnt that notice given at or prior to the last meeting? Coveniently gets us past the end of the season now. I smell a dirty great big rat. Not happy at all.

Don't agree. I think all the clubs have considered their positions over the past couple of weeks and decided that this is just too big a decision for the 6-person Board.

[EuanH78]

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So 21 days notice to remove the newco nonsense from the SPL board and back to the clubs. Why wasnt that notice given at or prior to the last meeting? Coveniently gets us past the end of the season now. I smell a dirty great big rat. Not happy at all.

Arent you encouraged that the clubs want this to go to full vote in first place?

[blindsummit]

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Anyway still doesnt stack up whether it was $1M or £1M, its now £500k and we'll throw in a gourd and a false beard as well.

Don't you want to haggle

[Mikey]

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Don't agree. I think all the clubs have considered their positions over the past couple of weeks and decided that this is just too big a decision for the 6-person Board.

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Arent you encouraged that the clubs want this to go to full vote in first place?

It's certainly to our advantage that the clubs will vote and not the board.

[bighairyfaeleith]

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It's certainly to our advantage that the clubs will vote and not the board.

agreed, although what numbers do we need to block them getting in??

[Don Giovanni]

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Arent you encouraged that the clubs want this to go to full vote in first place?

Is the issue not that the clubs may not get to vote on a Rangers newco if the SPL board are able to sneak it through before the 30th of May? Doncaster and Topping have been pretty explicit about how they would vote afterall.

The clubs are certainly giving the impression of wanting to take responsibility for the descion but the SPL board could hang them out to dry before they have the power to do so...?

[Spike Mandela]

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Looks like one of the reasons for the delay was to allow all clubs vote on newco as per BBC

However, an SPL spokesperson said the 11 member clubs present at Monday's meeting "unanimously called for the power to deal with any newco application to be moved from the board to the clubs".
"This requires 21 clear days' notice," added the spokesperson. "The clubs will therefore meet again on 30 May to consider a resolution designed to achieve this.
"In the event that an application for transfer of share to a newco is received before 30 May, then it can be dealt with by the SPL board.
"The SPL board have indicated that they would, in those circumstances, call together the clubs before any such decision was made.
"For the avoidance of doubt, no decision on any transfer of a share to a newco has yet been made; nor has any such application been received.

By the way when does a member club cease to be a member following relegation?

Hibs or Dunfermline will cease to be an SPL club at the end of this week and their vote will be taken by Ross County.

How convenient.

[EuanH78]

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Is the issue not that the clubs may not get to vote on a Rangers newco if the SPL board are able to sneak it through before the 30th of May? Doncaster and Topping have been pretty explicit about how they would vote afterall.

The clubs are certainly giving the impression of wanting to take responsibility for the descion but the SPL board could hang them out to dry before they have the power to do so...?

I'm not so sure Rangers/ Miller can push this through as quick as they might like.