Generic Sevco / Rangers meltdown thread

[Brando7]

wonder if they will do a hearts n delay the players wages come end of the month

[Minder]

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i would like to start the ball rolling with a .net contribution to the hun fund





spend it wisely McCoist

mind ma change

I will chip in

[Minder]

Just thought, should their current party song now be called Half Penny Arcade ?

[jgl07]

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Is there any way we can have the best of both worlds, whereby Rangers go into the third division and Celtic f*** off at the same time?

What a superb season that would amount too - even Dunfermline fans would struggle not to crack a smile if that came to pass

There would be one liquidation missing!

[stokesmessiah]

Never seen this, statement from D&P.

BILL MILLER has announced that he has withdrawn his offer for Rangers and administrators Duff & Phelps have announced that three other bidders are in play.David Whitehouse, joint administrator, said: "We can confirm that Mr Bill Miller has decided not to complete his purchase of Rangers Football Club."Since Mr Miller was announced as preferred bidder on Thursday of last week, it is regrettable that more progress could not be made to further the sale of the Club."We have been informed by his advisors that there were a number of issues with which he felt uncomfortable including legacy contracts, the limitation of potential revenue streams and the expectation of required investment."As in any company takeover, the selection of a preferred bidder does not guarantee the completion of the sale. In this case, with time and money for Rangers running out quickly, it was essential to move the process forward with urgency. Mr Miller's bid was deliverable to creditors and was the only deliverable bid on the table at that time. We had no other unconditional bid."Given the fact that Mr Miller did not enter into an exclusivity agreement, we informed all other known potential bidders at the time the door was not closed."As a consequence of Mr Miller's bid being accepted, three other bidders have come forward to express their interest in buying the Club and these offers are being evaluated with the utmost urgency."There is every opportunity for these bidders to now complete the purchase of the Club prior to the end of the season."

[PatHead]

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Never seen this, statement from D&P.

BILL MILLER has announced that he has withdrawn his offer for Rangers and administrators Duff & Phelps have announced that three other bidders are in play.David Whitehouse, joint administrator, said: "We can confirm that Mr Bill Miller has decided not to complete his purchase of Rangers Football Club."Since Mr Miller was announced as preferred bidder on Thursday of last week, it is regrettable that more progress could not be made to further the sale of the Club."We have been informed by his advisors that there were a number of issues with which he felt uncomfortable including legacy contracts, the limitation of potential revenue streams and the expectation of required investment."As in any company takeover, the selection of a preferred bidder does not guarantee the completion of the sale. In this case, with time and money for Rangers running out quickly, it was essential to move the process forward with urgency. Mr Miller's bid was deliverable to creditors and was the only deliverable bid on the table at that time. We had no other unconditional bid."Given the fact that Mr Miller did not enter into an exclusivity agreement, we informed all other known potential bidders at the time the door was not closed."As a consequence of Mr Miller's bid being accepted, three other bidders have come forward to express their interest in buying the Club and these offers are being evaluated with the utmost urgency."There is every opportunity for these bidders to now complete the purchase of the Club prior to the end of the season."

Oh aye, sold by Sunday. Would struggle to buy a car in that time!

[SJNB Hibby]

Quiet day at work-decided to sign up for swallow swallow. UN BE LIE VA BLE
One knuckle draggers main concern is that they have to work their way back up from Divi 3, but there's no SPL when they get there!!

[Cabbage East]

Very interesting post on another forum...


[QUOTE] For those asking about licences and transfers... (Long and boring, but will put the lie to any Newco gaining automatic entry into ANY Scottish league next season) The most important part regards being an SFA member for at least three years and the non-transferral of a club licence.


From the Scottish Football Association rules on Club Licensing (specifically Part 3, Section 03 – The Club as Licence Applicant and the UEFA Licence). Emphasis ours.

"3.1.1 The Licence Applicant may only be a football club, that is the legal entity fully responsible for the football team participating in national and international competitions and which is the legal entity member of the Scottish Football Association (Full or Associate Member). The licence applicant is responsible for the fulfillment of the club licensing criteria. This membership must have been in place at the start of the licence season for a minimum period of three consecutive years.

[...]

3.3.1 UEFA Licence Awards for Scottish Premier League Clubs (SPL)
A Licence cannot be transferred from one legal entity to another."

NB: "UEFA Licence" does not denote a licence to compete in UEFA competitions, which are governed by an entirely different set of criteria. As the SFA website explains:

"National Club Licensing applies to Scottish FA member clubs and UEFA Club Licensing applies to Scottish Premier League clubs."

In other words, to play in the SPL you must have a UEFA Club Licence, regardless of whether you actually compete in UEFA competitions or not. (SFL clubs, who in normal circumstances wouldn't be expected to qualify for European tournaments, are dealt with separately via an "extraordinary procedure" in the event that they do.)

So, should Rangers FC be subject to liquidation and then reborn as a "newco", the new company would NOT be eligible for the licence required to play in the SPL, for at least three years. Furthermore, it is plainly and explicitly forbidden under SFA rules for such a licence to be transferred from one legal entity (Rangers FC) to another (New Rangers FC 2012)

http://www.scottishfa.co.uk/resource...ence%20(2).pdf [\QUOTE]

[Paisley Hibby]

This is worth a read! http://www.bbc.co.uk/news/uk-scotland-17999964

[Minder]

[QUOTE=Cabbage East;3216347]Very interesting post on another forum...

For those asking about licences and transfers... (Long and boring, but will put the lie to any Newco gaining automatic entry into ANY Scottish league next season) The most important part regards being an SFA member for at least three years and the non-transferral of a club licence.


From the Scottish Football Association rules on Club Licensing (specifically Part 3, Section 03 – The Club as Licence Applicant and the UEFA Licence). Emphasis ours.

"3.1.1 The Licence Applicant may only be a football club, that is the legal entity fully responsible for the football team participating in national and international competitions and which is the legal entity member of the Scottish Football Association (Full or Associate Member). The licence applicant is responsible for the fulfillment of the club licensing criteria. This membership must have been in place at the start of the licence season for a minimum period of three consecutive years.

[...]

3.3.1 UEFA Licence Awards for Scottish Premier League Clubs (SPL)
A Licence cannot be transferred from one legal entity to another."

NB: "UEFA Licence" does not denote a licence to compete in UEFA competitions, which are governed by an entirely different set of criteria. As the SFA website explains:

"National Club Licensing applies to Scottish FA member clubs and UEFA Club Licensing applies to Scottish Premier League clubs."

In other words, to play in the SPL you must have a UEFA Club Licence, regardless of whether you actually compete in UEFA competitions or not. (SFL clubs, who in normal circumstances wouldn't be expected to qualify for European tournaments, are dealt with separately via an "extraordinary procedure" in the event that they do.)

So, should Rangers FC be subject to liquidation and then reborn as a "newco", the new company would NOT be eligible for the licence required to play in the SPL, for at least three years. Furthermore, it is plainly and explicitly forbidden under SFA rules for such a licence to be transferred from one legal entity (Rangers FC) to another (New Rangers FC 2012)

http://www.scottishfa.co.uk/resource...icence (2).pdf [\QUOTE]

If for example club X with big brand and heritage was liquidated, is anyone aware of any impediment to club C to buying club X main assets and changing name, colours etc to X2013 for example. Surely above licence issue would not be a factor? Not that this is likely to happen, just being

[ehf]

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This is worth a read! http://www.bbc.co.uk/news/uk-scotland-17999964

Great piece. No sympathy with Der Hun but if I were them I would be looking at Duff + Phelps as the real villain of the piece. Totally out of their depth. Taken circa 5 million in fees and costs (straight from operating income) but have sold the club and the creditors down the river. Best hope for creditors is a negligence suite against them.

[HibbiesandtheBaddies]

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Just thought, should their current party song now be called Half Penny Arcade ?

[Lungo--Drom]

Which is why every decent trader in Scotland, every ice cream seller, hot dog seller, fish'n'chip stall, programme printer, merchandise maker, kit maker, advertising agency, website provider, ANY service provider should stand up for those same companies / traders already shafted by these corrupt numbnuts and REFUSE TO TRADE at all with RFC, 'Oldco' or 'Newco'. Obviously some bluenose nutters who have businesses will keep trading with them for reasons of 'loyalty' (or is that loyalism) but even they will back off eventually when they know it is a choice between feeding their family or feeding the lie.

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They're not ... it will just be added to their list of creditors!

[TowerHibs]

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This is worth a read! http://www.bbc.co.uk/news/uk-scotland-17999964

We needed business journalists doing this from the start and not chick young and Jonathan Sutherland asking nonsense questions.

This certianly paints a very bleak picture

[Jack]

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This is worth a read! http://www.bbc.co.uk/news/uk-scotland-17999964

The most fascinating part of that for me was its the first time someone has attempted a quote at the Blew it Nights offer.

£1,500,000

And that maybe includes the worst ever Hibbys contribution!

And they wanted Snow Whites shares thrown in as well as Broxy Bears town and country houses :-D

Its been a long time since my flabber has been so gasted =-O

This is absolutely priceless.

[stokesmessiah]

http://www.thescottishsun.co.uk/scot...g-dealers.html

The Sun running with a Whytes Knights to save the club story?

[seanshow]

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http://www.thescottishsun.co.uk/scot...g-dealers.html

The Sun running with a Whytes Knights to save the club story?

lol I wonder how that fits in with his lifetime ban with any club in Scottish football. Even if he is not directly involved this is clutching at straws now surely.

[Hibrandenburg]

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Hopefully no where around this vicinity, although Darwen could do with a bit of a shake up :)

Sounds like a good match. Dar wen and der Hun. Can't imagine that even anyone on here would have anything against that :-)

[Hibrandenburg]

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Hopefully no where around this vicinity, although Darwen could do with a bit of a shake up :)

Sounds like a good match. Dar wen and der Hun. Can't imagine that even anyone on here would have anything against that :-)

[ScottB]

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http://www.thescottishsun.co.uk/scot...g-dealers.html

The Sun running with a Whytes Knights to save the club story?

Seriously? They expect people to believe that?

I can't believe there hasn't been much of a hint of discontent with the tabloids from the Rangers fans, this reads as yet another bit of made up nonsense!

[seanshow]

On Radio Scotland this morning there is a Rangers debate/phone in on the Call Kay show, and it is comedy Gold
Well worth a listen, including the female host who has no knowledge of football telling the Rangers fan to Zip it! .........Plenty raging huns trying to blame Graham Spiers (who is also on the show) for the clubs demise. Crazy!!

[TheEastTerrace]

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On Radio Scotland this morning there is Rangers debate/phone in on the Call Kay show, and it is comedy Gold
Well worth a listen, including the female host who has no knowledge of football telling the Rangers fan to Zip it! .........Plenty raging huns trying to blame Graham Spiers (who is also on the show) for the clubs demise. Crazy!!

Too many of them have read David Legget's ramblings and rants about Spiers, although his nickname for Spiers tickles me - 'odious creep'

[Caversham Green]

Meanwhile, Rangers fans are bewildered by Wild Bill saying he felt unwelcome - "I don't know where he is getting the 'Yanks go home' line from".

http://www.dailyrecord.co.uk/news/sc...6908-23852964/

[Lungo--Drom]

A further expanded BBC Sport news item which is the same as yesterday's but expands and repeats all the reasons that Bill Miller pulled out of his bid for:

http://www.bbc.co.uk/sport/0/mobile/football/17996474

The bit that amazes me is that this news item basically lists all the financial reasons why no-one apart from a suicidal true blue RFC fan would even bother wasting their money on this farce. There are more than enough reasons in Bill's list for never even considering buying this financial basket case and that's before we consider the non-financial reason, aka the vitriolic bile directed at Bill Miller A word of warning to any blue nose thnking of stepping in to the chasm, I don't think even a declared true blue will be safe from the bile and vitriol because Bill's spokesman has made it clear what we all knew anyway The accounts are a total shambles and and have been for years. Anyone, ANYONE, who wants to buy Der Hun FC will have to do all the things Bill Miller was going to do, i.e. cut spending to virtually nothing for quite some time. The "Raith Rovers fire bomber" squad will have plenty of bile and bomb threats for whoever wants to buy the club. They're that daft, and have probably pissed off the one semi decent bid they were going to get. Bill Miller might be a Yank but guaranteed he knows about money, so all the things his spokesman says needed done at the club will still be needing done, no matter who puts in a successful bid and so the "fans" will turn on no matter who ends up owning the whole sorry mess.

What I want to know is, who is working the strings of Duff & Phelps? It seems that their actions are NOT in the interests of the creditors but ARE in the interests of keeping the "sporting tradition" (bleuchhh....) of RFC alive. As quite a few other posters have pointed out this is contrary to duties of their task and possibly the law Is some high power blue noser in an influential position in society sitting in his big office somewhere with a blue framed photo of the Der Huns team on the wall phoning D&P every morning telling them to "keep looking for bidders" or he'll have them shot?

[green glory]

Been trying to get on Hunmedia all morning. Still locked out. Pity 'cos I was looking forward to shrieking in mockery at their suffering.

Sometime between Monday and June 1st blue lemmings will be jumping in their thousands off all the bridges along the Clyde.

[stokesmessiah]

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Meanwhile, Rangers fans are bewildered by Wild Bill saying he felt unwelcome - "I don't know where he is getting the 'Yanks go home' line from".

http://www.dailyrecord.co.uk/news/sc...6908-23852964/

I wet myself when i read that this morning....Eh maybe from the big banner saying "Yank Go Home"???

[Lungo--Drom]

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[Lungo--Drom]

I just read the "official" statement from Der Huns on their website about why Bill Miller pulled out from his bid. This is priceless, like something in the old Soviet Union Pravda newspaper, aka blatant bollocks tarted up for the loyal faithful to somehow delude themselves into believing:

http://www.rangers.co.uk/news/footba...rticle/2764178

Funny how they don't mention this aspect below....

[SAFETY WARNING: The following image contains multiple incidences of adult delusionals in a mutually agreed stance, also quite a lot of ugly fat people too]

[calmac12000]

Och it seems no matter how much things change you can rely on the Scottish media to try and ensure things remain the same, The crass and frankly unbelievable drivel emanating from the so-called popular press in this country would be hard pushed to convince a class load of primary school kids.Considering how out of touch with reality the average Hun is, perhaps we should realise that being spoon fed dross for umpteen years is a significant factor in this state of affairs. To me it is not just this rotten institution in Govan that needs reform, but also the ignorant media outlets who for years have cravenly excused the actions of this club and its supporters that needs to get their house in order.

[Just Alf]

And now the Rangers players are in the mix (and not happy!!!) as well...... that CVA is looking less and less likely by the minute.... Liquidsor time!

http://www.dailyrecord.co.uk/footbal...6908-23853179/