Generic Sevco / Rangers meltdown thread

[Steve-O]

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The Huns now proposing they decide their own punishment. Surprising?

http://www.dailyrecord.co.uk/footbal...6908-23882820/

6 month transfer embargo and ban from the Scottish Cup - what do we think of this?

I'd be more in favour of at least a 6 month suspension

[lapsedhibee]

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The Huns now proposing they decide their own punishment. Surprising?

http://www.dailyrecord.co.uk/footbal...6908-23882820/

One thing the Huns are good at is displaying boundless thickness.

[green glory]

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The Huns now proposing they decide their own punishment. Surprising?

http://www.dailyrecord.co.uk/footbal...6908-23882820/

Stewart Regan won't be making the decision anyway, it'll be the panel. By all accounts when Greene attended the SPL meeting this week his attitude towards the other club's chairmen didn't impress. In other words what Charles Greene wants Charles Greene gets. Didn't make many friends that's for sure. He'll attempt to browbeat Regan, then hopefully take the huff and walk away leaving the Huns to die.

[BarneyK]

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More arrogance from the huns, they are keen to reach a compromise. No ****
sherlock, but you are in no position to bargain now. Kill the tossers please, and finish this bloody mess for good.

Shamelessly pinched from a poster on pieandbovril, but it does succintly summarise the situation

Does that mean that Rangers are requesting a punishment that isn't in the rulebook, a week after taking the SFA to court (and getting them into trouble with FIFA) for giving them a punishment that wasn't in the rulebook?

Yeah, good luck with that

[Onion]

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The Huns now proposing they decide their own punishment. Surprising?

http://www.dailyrecord.co.uk/footbal...6908-23882820/

How magnanimous of the Huns. They're going to offer to take a 6 month transfer ban, yet the COS deemed a transfer ban beyond the powers available to the SFA ? What a load of crock. The more I read about the Huns and their approach to this whole sorry tale the less sympathy I have for them. They really are the pits and SF would be well shot of them.

[Onion]

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6 month transfer embargo and ban from the Scottish Cup - what do we think of this?

I'd be more in favour of at least a 6 month suspension

.. by the neck from a short rope

[Twiglet]

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The Huns now proposing they decide their own punishment. Surprising?

http://www.dailyrecord.co.uk/footbal...6908-23882820/

I wonder if FIFA are aware of Greene's meeting with the sfa and the rumoured reasons why. Surely another wee word would be had in the ear of the sfa to let them know that a club can't try and tell their FA what punishment they should receive.

[blackpoolhibs]

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Shamelessly pinched from a poster on pieandbovril, but it does succintly summarise the situation

Does that mean that Rangers are requesting a punishment that isn't in the rulebook, a week after taking the SFA to court (and getting them into trouble with FIFA) for giving them a punishment that wasn't in the rulebook?

Yeah, good luck with that

Hunbelievable.

[Steve-O]

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Shamelessly pinched from a poster on pieandbovril, but it does succintly summarise the situation

Does that mean that Rangers are requesting a punishment that isn't in the rulebook, a week after taking the SFA to court (and getting them into trouble with FIFA) for giving them a punishment that wasn't in the rulebook?

Yeah, good luck with that

True

[BEEJ]

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The Huns now proposing they decide their own punishment. Surprising?

http://www.dailyrecord.co.uk/footbal...6908-23882820/

The Huns just don't know when to shut-up, do they?

Talk about digging an ever deepening hole for themselves.

[snooky]

Imagine playing in a serious card school for 20 years.
One day you find out the guy who has been winning on a regular basis has been cheating all along.
He says, "Tell you what boys, I'll not play for a couple of weeks then we can pick up where we left off, okay?"
School's response? "Aye, that's great pal, as long as you're okay with that."
I don't think so.

[WindyMiller]

At least when the Huns are gone there's a good chance the fitba' weegia will go too.

[joe breezy]

The good news is that the Huns won't be negotiating with anyone as it's an independent trio including a senior judge that will be deciding their fate and that will be based in rules, not the sycophantic opinions of certain pro Rangers SFA types.

[steviehibsleith]

See Dunfermline chairman made a very valid statement about kicking huns out of Scottish cup next season is a leniant and inappropriate punishment for the crime considering His team was put out for fielding an inelligible player as was Spartans . You then hear that the Huns are going to boycott them as well as Hibs Dundee united Inverness St Johnstone .... etc just about every club whose chairmen has said something about the Rangers saga. My point is how dumb are the Huns for saying they wont go to away games - primary reason RP and other chairmen tolerates them is for the money they bring when the visit easter rd or respective grounds.

If they are going to boycott us next year may as well vote against them seems they are shooting themselves in the foot again.
PS i know tv revenue is huge and dependent on huns but clubs udget for 3000 travelling huns money too.

[Andy74]

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If I was a creditor reading this, I would not be pleased...

http://www.express.co.uk/posts/view/320185/320185

Or a taxpayer.

[TheEastTerrace]

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If I was a creditor reading this, I would not be pleased...

http://www.express.co.uk/posts/view/320185/320185

I recall a similar claim made by a shady wee character from Lanarkshire not so long ago

Total fantasy land.

[Jack]

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See Dunfermline chairman made a very valid statement about kicking huns out of Scottish cup next season is a leniant and inappropriate punishment for the crime considering His team was put out for fielding an inelligible player as was Spartans . You then hear that the Huns are going to boycott them as well as Hibs Dundee united Inverness St Johnstone .... etc just about every club whose chairmen has said something about the Rangers saga. My point is how dumb are the Huns for saying they wont go to away games - primary reason RP and other chairmen tolerates them is for the money they bring when the visit easter rd or respective grounds.

If they are going to boycott us next year may as well vote against them seems they are shooting themselves in the foot again.
PS i know tv revenue is huge and dependent on huns but clubs udget for 3000 travelling huns money too.

You've reminded me of something that 'someone had a go at me' on the McPake thread earlier.

My point was that its not just kicking them out the league and their mantra around youz need ra peepil.

The point is that if they do stay a huge number of supporters are threatening not to return; the peepil have threatened to boycott other clubs.

There's probably a fair number already who have lost confidence in 'the product' and won't return.

Whatever the financial future of Scottish football its never been so unclear.

[RyeSloan]

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In a liquidation there is no value for the players . Their contracts are cancelled.

Ah I see. For my benefit do you know why this happens automatically?

If there is no value in the playing staff for liquidation why then are D&P not selling the majority of the squad to raise funds for the CVA? The price Green is 'paying' cannot and does not reflect the market value of the 1st team so why is that value not being realised to pay the creditors? Also it seems the wage 'cuts' allowed certain players to imsert very low sell on clauses into their comtracts....how does that action square with D&P maximising monies for the creditors?

[VickMackie]

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6 month transfer embargo and ban from the Scottish Cup - what do we think of this?

I'd be more in favour of at least a 6 month suspension

6 months isn't nearly enough for what they'd get away with. If that was imposed by the end of the month they'd be able to sign players in the jan transfer window.

[grunt]

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If there is no value in the playing staff for liquidation why then are D&P not selling the majority of the squad to raise funds for the CVA? The price Green is 'paying' cannot and does not reflect the market value of the 1st team so why is that value not being realised to pay the creditors? Also it seems the wage 'cuts' allowed certain players to imsert very low sell on clauses into their comtracts....how does that action square with D&P maximising monies for the creditors?

Three very good questions. Sadly our useless press will never be able to provide answers.

[VickMackie]

How they could turn down 2 million for Naismith whilst in administration is a joke as well.

[ancient hibee]

Isn't there some confusion about the value of players contracts.Rangers won't go into liquidation until a Newco is formed.The players will be asked to transfer to the Newco-some won't agree.Those that don't will be sold by old Rangers those that do will be transferred-old Rangers will then be liquidated-there will be no players on the books when that happens.

[Jim44]

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How they could turn down 2 million for Naismith whilst in administration is a joke as well.

Is there really any incentive to sell their better players? Firstly they would obviously lose the sevices of the players and the proceeds would be paid out to creditors in their CVA which according to Doncaster will be accepted as it stands. Why increase the pence in the pound?

[Haymaker]

I thought a club in admin can't refuse bids for players that are reasonable? £2m for naismith is, imo, fair enough.

[Col2]

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Is there really any incentive to sell their better players? Firstly they would obviously lose the sevices of the players and the proceeds would be paid out to creditors in their CVA which according to Doncaster will be accepted as it stands. Why increase the pence in the pound?

Because its the admins responsibility to maximise return for creditors.

[Brando7]

http://www.dailyrecord.co.uk/footbal...6908-23882975/

Says here Green’s group of willing financial backers has dwindled from 20 to around five or six..can only be good news hopefully the rest will get scared off soon

[Jim44]

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Because its the admins responsibility to maximise return for creditors.

True but I'm also led to believe that maintaining the quality and viability of the team/company in administration is also one of the responsibilities of the administrators.

[The Green Goblin]

If they are talking about boycotting away games next year, why not expel them? The end result will be the same, PLUS....we don't have to put up with their team on our home turfs either. Win win

[ehf]

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http://www.dailyrecord.co.uk/footbal...6908-23882975/

Says here Green’s group of willing financial backers has dwindled from 20 to around five or six..can only be good news hopefully the rest will get scared off soon

Green is fronting this for someone who is as shady a ****: really hope he pulls it off, because it is the most cynical asset-strip ever.

[joe breezy]

Sunday 3 June 2012
Show us the money
Richard Wilson

Since holding his first press conference 21 days ago, Charles Green has only become a more elusive figure. His plans for Rangers remain vague, he has yet to provide any funds, and he cannot declare with any certainty which backers, if any, are committed to his loose consortium.
Only Duff & Phelps, the administrators, appear to have any faith that Green will be able to complete his £8.5 million deal to buy the club.
In 11 days a creditors' meeting will be held at Ibrox to determine if Rangers exit administration through a Company Voluntary Arrangement. Should that vote fail, Duff & Phelps claim they already have a binding agreement in place for Green's consortium to buy the assets for £5.5m in a newco scenario.
Yet it is not even clear if they have received the authority from the creditors to sell those assets without allowing bids from an open market.
The Sunday Herald also understands that Green's consortium has not committed any funds beyond the £200,000 exclusivity fee, despite the fact that the CVA proposal being sent out was due to trigger a seven-figure payment.
Green has contradicted himself throughout the past three weeks, talking of 20 investors, then five or six; talking about playing a long-term game then admitting he will try to turn around a share issue in the short-term; talking about having £20m in place but seeking significant investment from local Rangers-supporting businessmen; and talking about the club never being in debt again, then trying to buy it with a loan that carries 8% interest.
The only certainty is that Green has seen an opportunity to exploit the club's circumstances.
"He is playing an immaculate hand as an acquirer from distress," an insolvency expert told The Sunday Herald. "He came in late; he came in apparently high; he came in at the point where the leverage had switched in favour of the acquirer from the administrators.
"He has not, of course, backed his words with cash. Weeding out tyre-kickers is an essential skill of insolvency practice: finding the buyer with the passion and the willingness to complete often outweighs the top-dollar hold-out; failure to go with the most willing buyer at best prolongs the deal and at worst creates a Dutch auction."
Rangers fans were initially cautious about Green. As the buyer Duff & Phelps had chosen, he represented the club's best hope of finding a way out of adminis-tration. Yet that tacit acceptance is beginning to erode; Green has so far failed to convince.
The CVA proposal published last Wednesday was the final proof for many supporters that it was time to make a stand for their club.
The proposal is worth demonstrably less to creditors than other offers Duff & Phelps received. All four bidders were told they must provide funding from June 1 – last Friday – yet Green has not.
Instead, £3.6m is being deducted from the creditors' pool to cover the Administration Trading Shortfall. Rangers are also due £3.7m in transfer fees, but this has been written down in the proposal to £2m.
Duff & Phelps claim that funds are in place to pay running costs until mid-July, when Green would be expected to finally pay some money, so where has that come from?
A number of players can leave for set fees when the transfer window opens, yet at least a percentage of any transfer income should have been offered to creditors as part of a more viable CVA proposal.
Supporters have also grown alarmed that season ticket money would be used to cover running costs and are now demanding that Green meets them to provide credible proof of funds, or they will not back the season ticket campaign, which is due to begin before the CVA vote.
Sales would normally bring in £16m – with 75% of the income normally received by now – but fans do not want their money to be used to buy the club, which was effectively what Craig Whyte did.
"If he can prove that the wherewithal is in place to see us through then take us forward, we'll be encouraging people to buy season tickets," says Andy Kerr, president of the Rangers Supporters Assembly.
"If people are being asked for the season ticket money based on the circumstances we have right now, I would imagine that the vast majority would say, 'you ain't getting a penny until I know that you are holding up your part of the bargain'.
"That might make us appear dogmatic and challenging, but it's our club and we're the biggest investors in it. I read the CVA proposal and it just seems as though we will be paying for it. But if this guy drops the ball, there is somebody waiting to pick it up."
The administrators know two other bidders are ready and able to step in right away should Green's deal collapse. A third is also prepared to move.
All three believe Green does not have the funds and want to save the club, with at least one confident the CVA proposal can be picked up and altered to make it more attractive to creditors without delaying the process.


http://www.heraldscotland.com/sport/...money.17769614