Generic Sevco / Rangers meltdown thread

[Just Alf]

A few Hun mates (I should stop calling 'em that... Hun's not mates!) ...... keep saying we should stop trying to get rules changed to get the kicked or kept out of the SPL...... did some digging in the SPL rule book and lo and behold.......

A2.5.4 Any ground which a Club or the Candidate Club registers or is deemed to have registered as its Registered Ground, must, by not later than 31st March preceding any Season and for the whole of that Season:-
A2.5.4.1 subject to Rule H6.8, have satisfied and satisfy the Stadia Handbook requirements for a Club taking part in the League;
A2.5.4.2 have provided and provide individually numbered seats in areas under cover of a roof for not less than 6,000 spectators; and,
A2.5.4.3 have had and have adequate winter pitch protection, as provided in Rule H6.7,

As it's a NewCo that's that scooshed then!

There's also another rule (Rule D4.6) that essentially means.... if you're owe another team any money for a tranfered player then yer embargoed......oh and when you pay it back add on Base Interest Rate + 5% to the total

that's not even counting all the other stuff going on!

[JeMeSouviens]

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Just a couple of points here.

People talk about SKY walking away if they aren't guaranteed 4 OF games each season. Now if either of the OF sides were to have a poor season and finish in the bottom 6 and only 3 OF games were played what would happen. Would the SPL cry the games a bogey and reorganise the SPL to guarantee the required 4 OF games or would SKY tear up the contract and walk away? I don't think that would happen and I hope that the SPL board did not sign up to a contract which tied them to such a guarantee.

And Jim Traynor's a ****.

I read somewhere (unfortunately can't remember where) that the chat about Sky being guaranteed 4 OF games a season is a deliberate misinterpretation of the contract. What it actually says (it was alleged) is that Sky get first dibs, ie. before ESPN, on any OF games in the season.

[CropleyWasGod]

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The Record and co sat on this story till the writing was on the wall, the Rangerstaxcase blog had been talking about the mess at Ibrox for at least a year prior to the brown stuff hitting the fan.

The apologist tabloids refused to break the story until the club was dragged into the courts and they had no choice.

Sorry, that's not the case. Keith Jackson was asking the questions in July last year, long before any Court case. That's why he was cold-shouldered at Ibrox.

[JeMeSouviens]

As pointed out on RTC, some subtle misinformation from the Beeb:

http://www.bbc.co.uk/sport/0/football/18426943

"It's important to understand that the appointment of liquidators will not mean the end of football at Ibrox - only the end of the company that ran the club," said Cohen.

"The liquidators will seek to protect any remaining assets, maximise recoveries for the benefit of creditors and investigate the reasons behind the failure of the company."

Administrators Duff & Phelps plan to transfer the business to a 'newco' set up by Green in the next few days.

Cohen continued: "Once this is done, BDO will determine what can be recovered from the remains of the existing company."

3 quotes from the liquidator with one non-quote sentence inserted by the author. Take out the non-quote and it reads very differently.

[EuanH78]

Jim Traynor claims to be an Airdrie fan(ny) right?

Direct quote from David Murray on putting Airdrie into administration over the 30 grand they owed Rangers

"I feel very sorry for Airdrie and their supporters but we're running a business. We have given them repeated warnings and felt they were playing on our good nature."

Airdrie were liquidated on 1st May 2002, in this year Rangers paid an estimated £5.18 Million into their EBT scheme to avoid paying tax.

Wonder what the fat fool says about that?

:giruy:

[JeMeSouviens]

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Sorry, that's not the case. Keith Jackson was asking the questions in July last year, long before any Court case. That's why he was cold-shouldered at Ibrox.

Following some eagle eyed work on the RTC blog noticing that the floating charge had been amended to remove a large number of season tickets which kicked off a lot of the detective work. At least Jacko was following up properly for once.

[CropleyWasGod]

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Following some eagle eyed work on the RTC blog noticing that the floating charge had been amended to remove a large number of season tickets which kicked off a lot of the detective work. At least Jacko was following up properly for once.

Yeah, credit where it's due. I'm no big fan of his, or the DR, but he did do his job well in this instance.

[WindyMiller]

The agreement 'tween D&P and Greene states that he has to buy the club by the 31st July, if they can play in all domestic competitions.

So he'll be looking for entry into the SPL before he completes.

I don't believe the SPL will hold a vote on a newco if the deal hasn't been finalised and , at least, the main owners of the newco are known.

Thoughts?

[CropleyWasGod]

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The agreement 'tween D&P and Greene states that he has to buy the club by the 31st July, if they can play in all domestic competitions.

So he'll be looking for entry into the SPL before he completes.

I don't believe the SPL will hold a vote on a newco if the deal hasn't been finalised and , at least, the main owners of the newco are known.

Thoughts?

Sounds a bit chicken and egg here.

The SPL can't consider the application by a NewCo, until, as you say, the NewCo has actually put the application in. Will they accept an application by a company that doesn't have any assets? I doubt it.

Which means that Green will have to buy (insert whatever... TBC) before he makes his application.

Which further means that, if the NewCo is turned down, he can walk away from the deal.... which he has already completed.

Screwy.

[Speedway]

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What Hibernian topics would you like to discuss?

Rangers are big news at the moment so its fairly obvious why people are talking about them.

The silence from ER at the moment is deafening and just about every other close season topic has been done to death in the last couple of weeks.

- The latest status of Erin Hibs

- Classic strips and where we first saw them

- The achievements and future projects of the Hibs Historical Trust

- How that educational centre thingy is getting along

- The future of Bobby Brown

- The reason behind the departure of High Fiveland

- What other measures we think Brian Texas is going to take in the re-structure.

- The campaigning for the return of board level interviews on Hibs TV

- Stephen Dobbie and Slav Erinnplumn as realistic signing targets

- What Craig Rocastle is up to now.

That's about all I can think of, off the top of my head.

[R'Albin]

That reminds me, where did Thornhill go to after leaving us?

[RyeSloan]

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Sounds a bit chicken and egg here.

The SPL can't consider the application by a NewCo, until, as you say, the NewCo has actually put the application in. Will they accept an application by a company that doesn't have any assets? I doubt it.

Which means that Green will have to buy (insert whatever... TBC) before he makes his application.

Which further means that, if the NewCo is turned down, he can walk away from the deal.... which he has already completed.

Screwy.

If Green gets all of Rangers (players+assets) for £5.5m then gets an SPL licence then he will have pulled off deal of the century...

[iwasthere1972]

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That reminds me, where did Thornhill go to after leaving us?

Barcelona.











































for a holiday.

[lapsedhibee]

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Not sure about that, if their last sentence is correct.

Does anyone know if clubs can abstain from voting on the Newco question, per SPL rules.

If abstaining is allowed, then clubs like the Mothers, Arabs and the Buddies might well take that option.

In such circumstances, the HunNewCo could well struggle to get 8 positive votes!

Can't see any point in abstaining unless it was just a simple majority that was required to pass the HunsBackIn? motion. In this particular vote, anything other than a Yes is equivalent to a No. McCoist would want to know the names, addresses, and coffin sizes of everyone who didn't vote Yes, not just those who voted No.

[WindyMiller]

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Sounds a bit chicken and egg here.

The SPL can't consider the application by a NewCo, until, as you say, the NewCo has actually put the application in. Will they accept an application by a company that doesn't have any assets? I doubt it.

Which means that Green will have to buy (insert whatever... TBC) before he makes his application.

Which further means that, if the NewCo is turned down, he can walk away from the deal.... which he has already completed.

Screwy.

IMO D&P are talking p15h when they say that it will be completed this week, as Greene's investors won't want to put money in to a club that might not make the SPL next season.
The lack of Euro football would put any really big investor off, but the lack of SPL football would scare most away.

[CropleyWasGod]

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IMO D&P are talking p15h when they say that it will be completed this week, as Greene's investors won't want to put money in to a club that might not make the SPL next season.
The lack of Euro football would put any really big investor off, but the lack of SPL football would scare most away.

On reflection, I think CG might have backed himself into a corner.

I think he assumed that the question of the SPL membership would have been settled by now. Had it been against RFC, he then would have had the option to pull out of the "irrevocable" deal.

[ancienthibby]

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Can't see any point in abstaining unless it was just a simple majority that was required to pass the HunsBackIn? motion. o.

In this particular vote, anything other than a Yes is equivalent to a No. McCoist would want to know the names, addresses, and coffin sizes of everyone who didn't vote Yes, not just those who voted N

Precisely? Though, in your projected circumstances, the WeeSwallyCoistyMan would already be history!

[SteveHFC]

[The Green Goblin]

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Then we have the Green Goblin pontificating as if he now has a done deal on the first favoured position ahead of liquidation.

cb

Whit??! Haha

[Www1875hfc]

McCoist set to quit according to Chris McLaughlin, just on Bbc radio scotland?

[whiskyhibby]

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McCoist set to quit according to Chris McLaughlin, just on Bbc radio scotland?

I Don't think he's got the cahjones for that.......

[Www1875hfc]

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I Don't think he's got the cahjones for that.......

http://www.dailyrecord.co.uk/footbal...6908-23895646/

[Just Alf]

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http://www.dailyrecord.co.uk/footbal...6908-23895646/

Oh dear...........


Ha ha ha!

[theonlywayisup]

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Non Story!!!

More anti Rangers nonsense in the media yet again.

When you get rid of all the headlines and look at the reality at Rangers then things arent so bad.

Debt gone, History in tact, Stadia and Murray Park to remain with the newco., Guaranteed to be playing in the spl next season..

Whats all the fuss about?

And I believe in the tooth fairy!!!!!!

[Lucius Apuleius]

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And I believe in the tooth fairy!!!!!!

Apart from anything else, the mutant appears to have problems with the English language.

[Spike Mandela]

Originally Posted by Hun on Daily Record comments page
Non Story!!!



Debt gone, History in tact, Stadia and Murray Park to remain with the newco., Guaranteed to be playing in the spl next season..

Whats all the fuss about?



Unfortunately the fact does appear that whoever takes over the asset stripped organs of the liquidated carcass has actully got themselves a bargain.

If the football authorities back away from doing the right thing then they have in fact got the bargain of the century.

[VickMackie]

If they remain in the SPL the guy will have bought a company with a turnover of between 30-50 million for 5.5.

Easy option to reduce costs in wages and still finish second each year.

If I had 5 million I'd buy them myself.

He can probably sell them for double that, or more, next year.

[GordonHFC]

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If they remain in the SPL the guy will have bought a company with a turnover of between 30-50 million for 5.5.

Easy option to reduce costs in wages and still finish second each year.

If I had 5 million I'd buy them myself.

He can probably sell them for double that, or more, next year.

With no debt attached he could put it up for sale for ten times that amount the day after he bought them.

[green glory]

Rangers die today. How sweet does that sound?

[lapsedhibee]

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http://www.dailyrecord.co.uk/footbal...6908-23895646/

"Honesty, dignity and courage have always been the driving forces in McCoist’s make-up"

Aye, so they have, except perhaps when he was a footballer - when sneaking up behind people, hitting them and running away before they could see who did it was the order of the day.