Generic Sevco / Rangers meltdown thread

[Baldy]

surely now they must liquidate the club and sell it assets, not just agree to sell it to Charles Green for £5.5m

the ground is worth more than that, the car park across the road was valued in excess of £3m so surely the creditors have the right to say no to the club being sold for that .. sell the lot on the open market and allow the creditors to get some money, as it stands they won't get a bean ,... yet Rangers carry on with no debt and the word "THE" added to their name.


The whole thing stinks of a complete "looking after the boys", where else could you buy a ground, players, training complex, and huge amounts of surrounding land in a large city for £5.5m.

Duff and Phelps surely can not make arrangements to sell any of the assets when there will be liquidators who will be appointed????

[Off the bar]

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This, folks, is where we stand at the moment.

I take it the NewCo (THE Rangers FC) will be able to buy players as they are not under the same administration transfer embargo as the OldCo.

surely newco can't sign anyone until they have sfa membership? you need the sfa to approve player registration etc

until they have sfa membership newco = new company, not new club

[s.a.m]

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I don't see them being kicked out during the season - that would cause genuine disruption. I think if they manage to play even one league fixture after their pre-season tour, they've cracked it.

I suppose what I'm trying to say is that, even if they are still in administration at that point and eligible for the SPL, if the Newco-in-the-SPL project has been kicked into the long grass by the the other Clubs, their place in the SPL is untenable and entirely pointless. The sensible thing to happen, in that case, would be to refuse them entry, on account of their short-term future in the league. Whether or not that would happen though......

[HibeeMG]

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surely newco can't sign anyone until they have sfa membership? you need the sfa to approve player registration etc

until they have sfa membership newco = new company, not new club

Very true.

So it all depends, as Andy says, on the SPL vote on the NewCo.

Now, another question. When the fixtures come out Rangers OldCo will be included and will be subject to a 30pt penalty. The NewCo will be applying to replace them.

Will the NewCo take over the -30 points if they're allowed in?

[Andy74]

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I suppose what I'm trying to say is that, even if they are still in administration at that point and eligible for the SPL, if the Newco-in-the-SPL project has been kicked into the long grass by the the other Clubs, their place in the SPL is untenable and entirely pointless. The sensible thing to happen, in that case, would be to refuse them entry, on account of their short-term future in the league. Whether or not that would happen though......

They wouldn't have a ground or any players registered, those will be sitting with the newco, should the players accept of course, if not they will have been deemed to have resigned so won't be with oldco.

[s.a.m]

Douglas Fraser‏@BBCDouglsFraserIn #Rangers creditor meeting, Ticketus - which, like HMRC, had a blocking vote - backed the CVA. Now going after Craig Whyte for £27.5m

[Just Alf]

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I think there are plenty Rangers fans who want nothing more than to put this behind them, take any punishment due and start building their club from scratch again. They just aren't being given a voice in the press who are more interested in plying the "don't they know who we are?" line from Huns (huns as opposed to Rangers fans).

Most sensible thing I've seen written re the Huns/Fans for a while .... and yes, for the record I'm sorry for the real fans.

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This, folks, is where we stand at the moment.

I take it the NewCo (THE Rangers FC) will be able to buy players as they are not under the same administration transfer embargo as the OldCo.

Good point.... although it's a dangerous path.... techinically they could buy a player but they wouldn't be part of the SFA/SPL yet so the player wouldn't be licensed to play ANYWHERE. The thing is, there's 2 transfer embargo's running at the moment.... 1 for being in Admin and another for owing money to other clubs in Scotland.

I guess signing a player via the back door then trying to get him added into the "club" when it moves over would be seen as a complete no no. beaten to it.... I need to be less long winded!


on another note about when the vote takes place...... it's 14 days after the SPL receive a Newco application.... so needs to be in at least 2 weeks prior to the start of the season and if it's left that late there's no wriggle room if they're rejected.

[sadtom]

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New name for the Huns is

The Rangers Football Club

According to Sky

I was told it would be Independant Rangers Athletic.
Of course thats just a provisional name. ;-)

[JeMeSouviens]

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If only. Who would tell the difference in the club they are about to have debt free and assets intact in the next 24 hours?

Hopefully the players walk and things won't quite be the same.

If/when the players walk, the SPL votes no, Lord Carloway gets another bite at the cherry, things won't be looking quite so rosy. Every dawn for the Huns over the last year and a half has been a false one so far.

[Spike Mandela]

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This, folks, is where we stand at the moment.

I take it the NewCo (THE Rangers FC) will be able to buy players as they are not under the same administration transfer embargo as the OldCo.

This is where it gets grey for me. The newco will exist as an entity from tomorrow but the oldco won't technically be liquidated for anothe 6-10 weeks. They are either the oldco or the newco surely they can't be both.

[Spike Mandela]

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on another note about when the vote takes place...... it's 14 days after the SPL receive a Newco application.... so needs to be in at least 2 weeks prior to the start of the season and if it's left that late there's no wriggle room if they're rejected.

Should the vote be no it doesn't give Dundee any time to consider their budget for a season in the SPL either does it.

[greenlex]

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Sky sources saying now McCoist will NOT walk away. Has Ally had a wee tantrum, stamped his feet and got his way again? What a weasly little man this guy is

More likely Greene is ready to walk.

[Kojock]

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In addition to all the ridiculous amounts of cheating that has been going on, the SPL club chairmen would do well to remember two things: -

1. Rangers and Celtic wouldn't have given a **** about the rest of the SPL had they gotten their move to England

2. Rangers fans are insisting that they will boycott many of the away fixtures next season.

I know this has been posted before but just a wee reminder what the Huns were planning less than hree short years ago.

From Walter Smith in 2009

Unlike many senior figures in the Scottish game, Smith has no fears for the wellbeing of the clubs Celtic and Rangers would leave behind in the SPL if they did move on to help form a new league.

In fact, he is adamant that other clubs having an increased chance of winning the national title for the first time since Aberdeen back in 1985 would result in vastly increased gates and general renewed interest.

He also stressed that entry to the new competition would be open to the winners of the SPL, not just the Old Firm clubs, and would be an enormous added incentive for them to succeed.

“The team which wins the league should have the opportunity to get into that league playing off against the teams which are already in it,” he explained. “If, for example, Aberdeen win the title, and can meet the criteria for a European league, then they should play-off for the chance to be a part of it. There would be benefits for the whole of Scottish football.”

Nor does Smith envisage Rangers or Celtic abandoning Scottish football altogether. He reckons reserve or even youth teams representing the Ibrox and Parkhead clubs could still compete in the Scottish domestic leagues.

“Rangers and Celtic would still field teams in Scotland even if they left to join a European league. They might have to start at the bottom division and work their way up again. But they will always have a presence in Scottish football.”

So Walter you have your wish. The league will get stronger without the Huns who will start in the 3rd division

[Bighoose]

Even if they do get back into the SPL, they going to have no players, reduced income, SPL/SFA sanctions and a crook of an owner who will hoovering any cash out of them as soon as it appears.

I'll give them a season before they're back in Admin again, this time with all assets stripped and heading directly down the pan.

Starting in Div3 is probably their only chance of survival.

[JeMeSouviens]

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I know this has been posted before but just a wee reminder what the Huns were planning less than hree short years ago.

From Walter Smith in 2009



So Walter you have your wish. The league will get stronger without the Huns who will start in the 3rd division

... with a youth team. Exactly as he foresaw!

[Spike Mandela]

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Even if they do get back into the SPL, they going to have no players, reduced income, SPL/SFA sanctions and a crook of an owner who will hoovering any cash out of them as soon as it appears.

I'll give them a season before they're back in Admin again, this time with all assets stripped and heading directly down the pan.

Starting in Div3 is probably their only chance of survival.

None of the sanctions you mention are certain. If I was a creditor I would be demaning that liquidators claim a higher price for a debt free Rangers and that they question Duff and Phelps deal with Green. There are buyers who will pay a lot more for £125m worth of assets now that the debt burden is removed.

[Springbank]

Visionary stuff from Walter . Or perhaps he had the inside track...

[Andy74]

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None of the sanctions you mention are certain. If I was a creditor I would be demaning that liquidators claim a higher price for a debt free Rangers and that they question Duff and Phelps deal with Green. There are buyers who will pay a lot more for £125m worth of assets now that the debt burden is removed.

Strangely though, none of the crditors seem too bothered at thsi stage? HMRC certainly spoke of allowing Rangers the new srat under the terms of the agreed asset sale.

Still doesn't make any sense to me that this has been allowed at such a discount.

[Just Alf]

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Should the vote be no it doesn't give Dundee any time to consider their budget for a season in the SPL either does it.

total can of worms at every turn....

[HibbyRod]

Now that we have a club Liquidated, can we expect an announcement today from Mr Doncaster and his cronies at the SPL, and/or, the SFA?

[CropleyWasGod]

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Now that we have a club Liquidated, can we expect an announcement today from Mr Doncaster and his cronies at the SPL, and/or, the SFA?

On what?

There is no club liquidated yet, and it won't be for quite some weeks.

[JeMeSouviens]

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On what?

There is no club liquidated yet, and it won't be for quite some weeks.

I expect the asset purchase and attempted transfer of SFA membership/SPL share to happen before that though. **** or get off the pot time for the bold Mr Green.

[Kaiser1962]

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Strangely though, none of the crditors seem too bothered at thsi stage? HMRC certainly spoke of allowing Rangers the new srat under the terms of the agreed asset sale.

Still doesn't make any sense to me that this has been allowed at such a discount.

When you are a creditor you reach a point where it dosent really matter and, in the overall process, you become insignificant.

I think most of them will have spent enough time chasing this and are prepared to leave it to the revenue to sort out.

[Gatecrasher]

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On what?

There is no club liquidated yet, and it won't be for quite some weeks.

to be fair Doncaster and the rest have no kept their mouths shut all the way through this now all of a sudden theres nothing

[CropleyWasGod]

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When you are a creditor you reach a point where it dosent really matter and, in the overall process, you become insignificant.

I think most of them will have spent enough time chasing this and are prepared to leave it to the revenue to sort out.

Very true.

In my experience, a lot of creditors won't have even bothered replying to the CVA document. In thir minds, the debt is gone, and anything they get from now on will be a bonus.

[CropleyWasGod]

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to be fair Doncaster and the rest have no kept their mouths shut all the way through this now all of a sudden theres nothing

I don't know that there is much they can say. From an SPL or SFA view, little has changed. The standard response from them will be "we will consider any application on its merits... etc etc"

[Just Alf]

Green is being EXTREMLEY economical with the truth if you ask me.....

He told members of the Rangers Fans Fighting Fund that he had deposited £7.5m with the administrators. Yet in the statement he released on Tuesday, Paul Clark of Duff & Phelps admitted Green was still short with some of his funding. Early in the process, Green claimed Rangers would be debt free, while knowing that the terms of his purchase would be that the £8.5m price for a successful CVA would be a loan at 8% interest. He claimed this was to protect the 26,000 minority shareholders, but could instead have obtained a waiver from having to offer to buy them out, as Craig Whyte did when he bought Sir David Murray's 85% shareholding. Even without doing that, Green could have set the interest at a token 1%.

from the Herald.... http://www.heraldscotland.com/sport/...-line.17871992

[Liberal Hibby]

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On what?

There is no club liquidated yet, and it won't be for quite some weeks.

So the likelihood is that Oldco Rangers will enter the new season in administration?

[hibbyfrankie]

If Newco does get voted to play in SPL would dundee not have grounds for complaint?

My reasoning is that if RFC are liquidated and it looks like this is going to happen then surely there is now a vacant spot in the SPL. By rights this spot should be available to dundee.

If a Newco then buy the Rangers assets they have no more right to a position in the league than any highland or junior club who might want to joint the SFL. Or indeed if had the money to buy a stadium or build one i could now apply to join the league on the same footing as this newco company.

Technically Newco have no fan base, no history and no inherrant right to play in the SFL never mind given straight access to the SPL.

In my opinion the only way for any new club to play in the SPL is via promotion and every team in any division should be able to complain about this as they all have more right to be there than a Newco.

Im really hoping that there is a no vote as i have already promised my grandson a season ticket. It will break his heart but i will not be able to go back if this mockery of our league system is allowed to go through.

[Brando7]

STV tonight 10.30 The rangers Downfall

A must watch