Generic Sevco / Rangers meltdown thread

[GORDONSMITH7]

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My uneducated take in this now is that its now the time for other spl fans to determine what they want to happen. Up until this stage it was possible if a cva had been accepted that no matter what other fans and clubs wanted they were restricted. Now it looks as if the clubs will determine where they ply there trade for the next 3 years at least and so fans need to let their boards know in no uncertain terms what there feelings are.

So it looks like their future in the SPL is now in the hands of the rest of the Clubs in it. Seems reasonable to me that as many Hibs fans as possible let our Board know what our feelings are on this.

BIG G

[frazeHFC]

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It wasnt by the window was it?

There's a balcony

[easty]

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So it looks like their future in the SPL is now in the hands of the rest of the Clubs in it. Seems reasonable to me that as many Hibs fans as possible let our Board know what our feelings are on this.

BIG G

All the SPL clubs fans need to let thier boards know how they feel. If people arent bothered enough to speak up now then they can have no complaints in 5 years time when we are back to the status quo.

[SteveHFC]

Excellent News

[Seveno]

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I think you are giving that announcement a little too much thought, they have been appointed the official home improvement sponsor of the SPL.

It's a 6 figure sum with the look of add-ons.

http://www.scotprem.com/content/defa...2&newsid=11417

[SteveHFC]

[Bad Martini]

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My uneducated take in this now is that its now the time for other spl fans to determine what they want to happen. Up until this stage it was possible if a cva had been accepted that no matter what other fans and clubs wanted they were restricted. Now it looks as if the clubs will determine where they ply there trade for the next 3 years at least and so fans need to let their boards know in no uncertain terms what there feelings are.

I suggest your take on this is not quite so uneducated as you might think. I reckon yer spot on, and so does Thomson:

http://www.bbc.co.uk/sport/0/football/18365480

Chairmen/Boards of football clubs are known for many things but above ALL else, they are generally known to consider money before most other things. This quote, from Thomson, from the article above says it all:


"Thompson has received "emails and letters in the hundreds" from fans opposed to a Rangers newco being admitted to the SPL and the chairman suspects the issue is already having an effect on season ticket sales.

"One or two are holding back, I've no doubt about that and that effects what I'm capable of doing with regard to bringing players in," he said.

"It's not just people who are 15, 16-years-old on message boards, I'm talking about people writing in who have been season ticket holders for 30 or 40 years with very, very strong feelings."


EVERY club will be weighing this up. In todays climate they need to consider the very REAL possiblity that people just might go through with telling them to ram their season tickets and walk up tickets if they bend over and get shafted by rangers on this. Big time.

I hope the biggoted shower of bassas get ALL they ****ing deserve. ALL, they deserve. Churches, division 3. "Its a ****ing kick aboot" (nae nets)

And when it's decided in finality, and if it happens, we shall paint the ****ing streets green and rejoice singing, DING DONG THE WITCH IS DEID.

GLORY GLORY YA BASS.

ENDOF

[SteveHFC]

[poolman]

I'll give you six squid

[down-the-slope]

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It's a 6 figure sum with the look of add-ons.

http://www.scotprem.com/content/defa...2&newsid=11417

So could be 100k...wouldnt pay D&P's fees for a week..very small beer

[Just Alf]

Matt Slater ‏@mattslaterbbc

D&P also says HMRC wants to liquidate RFC plc to enable full investigation of last decade, & to pursue wrong-doers for lost tax...

[Caversham Green]

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Given the statement today from Greene that he now intends setting up a newco at a cost of £5.5m, how certain is this?

HMRC have 'preferred' liquidators but who actually 'appoints' the liquidators? is it Duff & Duffer and what role do they now play for the future?

Greene states that he will be buying the assets e.g. ground training ground but can the new liquidators put a stop to this? £5.5m for Murray Park and Ibrox seems a bit short in value.

Will players contracts now be taken over by the SFA/SPL and newco will have to buy these contracts back?

I don't think a newco is certain at all. The liquidators have a duty to obtain the best possible price for the assets - D&P claimed that the £5.5m offer from Green was the best they could achieve but BDO might have a different view. Liquidators are appointed by the company, but HMRC have nominated BDO and D&P haven't disputed that so it is likely to be BDO.

I made an interesting point (well I thought it was interesting) about that £5.5m purchase. If anyone has a copy of the CVA proposal, look at the 'Estimated outcome statement'. The £5.3m balance is clearly shown to be for Intellectual property rights/goodwill, Player contracts and Stock only. Freehold property has N/A (not applicable) against it. I think it must just be badly drafted but it's quite a major blunder IMO andI'm surprised none of the various bloggers noticed it.

The players contracts can be passed on to the newco under TUPE rules, but it's at the players' discretion - they can walk away if they get a better offer.

[Andy74]

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Given the statement today from Green that he now intends setting up a newco at a cost of £5.5m, how certain is this?

HMRC have 'preferred' liquidators but who actually 'appoints' the liquidators? is it Duff & Duffer and what role do they now play for the future?

Green states that he will be buying the assets e.g. ground training ground but can the new liquidators put a stop to this? £5.5m for Murray Park and Ibrox seems a bit short in value.

Will players contracts now be taken over by the SFA/SPL and newco will have to buy these contracts back?

£5.5m for the stadium, training ground and players? Seems unreasonably cheap - why would creditors accept that when surely market value is way more - you could sell two or three players and get that much.

This seems, apart from the SPL vote, to be quite an easy out for them if they end up with no debt, all the assets including players, then carry on as normal.

[magpie1892]

At last. The end.

Am having a **** week and this is just the best news.

No more rangers. How good does that sound?

[Offside Trap]

HMRC statement interesting....says proposed sale of football assets can still go ahead and Huns can continue to play at Ibrox. What it doesn't say is if that is to Green....or whether it is a tactical statement saying what COULD happen under liquidation.

Sorry cant do link at moment but article on STV website has this HMRC piece at bottom.

[down-the-slope]

I think we should now name and shame all those on this thread who doubted Hector would bring home the bacon......

Three cheers for Hector

Hip Hip Hooray

Hip Hip Hooray

Hip Hip Hooray

taxman1_203x150.jpg

[Lucius Apuleius]

Eeeee, it is enough to make even me consider paying my taxes

[CropleyWasGod]

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At last. The end.

Am having a **** week and this is just the best news.

No more rangers. How good does that sound?

It's not the end. It's not even the beginning of the end, it's the end of the beginning.

Ach, sod that.... enjoy your week.

[ScottB]

This is very much brass ring time then, will they have to start in the 3rd Division, or will they weasel their way back into the SPL and kill it dead.

[Seveno]

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I don't think a newco is certain at all. The liquidators have a duty to obtain the best possible price for the assets - D&P claimed that the £5.5m offer from Green was the best they could achieve but BDO might have a different view. Liquidators are appointed by the company, but HMRC have nominated BDO and D&P haven't disputed that so it is likely to be BDO.

I made an interesting point (well I thought it was interesting) about that £5.5m purchase. If anyone has a copy of the CVA proposal, look at the 'Estimated outcome statement'. The £5.3m balance is clearly shown to be for Intellectual property rights/goodwill, Player contracts and Stock only. Freehold property has N/A (not applicable) against it. I think it must just be badly drafted but it's quite a major blunder IMO andI'm surprised none of the various bloggers noticed it.

The players contracts can be passed on to the newco under TUPE rules, but it's at the players' discretion - they can walk away if they get a better offer.

My suspicion is that the deal struck between Green and Whyte was for Whyte to sell his shares for £2 but retain the property assets which he will then rent back.

I just can't see Whyte walking away with just £2 in his pocket.

[down-the-slope]

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I don't think a newco is certain at all. The liquidators have a duty to obtain the best possible price for the assets - D&P claimed that the £5.5m offer from Green was the best they could achieve but BDO might have a different view. Liquidators are appointed by the company, but HMRC have nominated BDO and D&P haven't disputed that so it is likely to be BDO.

I made an interesting point (well I thought it was interesting) about that £5.5m purchase. If anyone has a copy of the CVA proposal, look at the 'Estimated outcome statement'. The £5.3m balance is clearly shown to be for Intellectual property rights/goodwill, Player contracts and Stock only. Freehold property has N/A (not applicable) against it. I think it must just be badly drafted but it's quite a major blunder IMO andI'm surprised none of the various bloggers noticed it.

The players contracts can be passed on to the newco under TUPE rules, but it's at the players' discretion - they can walk away if they get a better offer.

Could we see BK's or someone else try and buy Ibrox (or rent from who ever buys) purchase a lower league club and do an Airdrie and say they are the True Blues .....

I think its not inconceivable...it would leave even more bagage and allow them to disassociate with the past more easily...

Another issue is the leagal entity / club licence / history one.....can of worms

[MB62]

Statement relesaed from Duff & Duffer today in response to HMRC knocking back the CVA.

'As we have always stated, administrators have a primary objective to ensure the survival of the company and in this case, this would have been achieved through a CVA. It was with HMRC’s approval, that a proposal was placed before creditors for consideration.'


I thought their primary objective was to look after the best interest of the creditors

[down-the-slope]

Buns will be top story on beeb lunchtime news at 1.25 ish.....

[Seveno]

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Could we see BK's or someone else try and buy Ibrox (or rent from who ever buys) purchase a lower league club and do an Airdrie and say they are the True Blues .....

I think its not inconceivable...it would leave even more bagage and allow them to disassociate with the past more easily...

Another issue is the leagal entity / club licence / history one.....can of worms

If I had won the Euromillions jackpot last week, then I would have put in a bid to beat all the shysters.

In full ownership of the property, I would do sod all with it. Just drive through to weegie-land every month to see how the grass and weeds are growing. I might even offer tours.

[magpie1892]

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It's not the end. It's not even the beginning of the end, it's the end of the beginning.

Ach, sod that.... enjoy your week.

Funny, 'cos I was feeling all Churchillian.

Certain as I was that rfc 1872 were doomed some time ago, I did worry a little with posters in this thread saying: 'hun will still be 2nd by a mile in 2012-13 SPL'.

They will not. I am soooooooooo looking forward to doing something big against them to erase the memory of 7-0 at hunbox in 1995 (?).

Hibernian - pay attention - after 19 May you owe us big time.

[down-the-slope]

ADMINS! (no not D&P ) the competent ones...

Can we get title updated to reflect latest glorious news

[easty]

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Certain as I was that rfc 1872 were doomed some time ago, I did worry a little with posters in this thread saying: 'hun will still be 2nd by a mile in 2012-13 SPL'.

They'll be either 2nd or 1st.

[haagsehibby]

It's a shame they couldn't have waited till the 12th of July.

[joe breezy]

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Could we see BK's or someone else try and buy Ibrox (or rent from who ever buys) purchase a lower league club and do an Airdrie and say they are the True Blues .....

I think its not inconceivable...it would leave even more bagage and allow them to disassociate with the past more easily...

Another issue is the leagal entity / club licence / history one.....can of worms

It is inconceivable as buying a football club and changing their name in that manner isn't allowed - that loophole was closed after Airdrie United did it to Clydebank

[down-the-slope]

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HMRC and BDO will be on that particular trail.....

And the recently very quiet Ticketus