Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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Unfortunately that isn't the way things work in this country.

As soon as something becomes too complicated, everybody simply turns a blind eye to it.

People don't want to have to think too hard about anything, thats the problem.

This whole mess is one mega mind tangle and it wouldn't surprise me if it was soon just brushed aside only to be forgotton about at the top.

That's quite a slur on BDO, and they're not even in post yet.

[Hibs Class]

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Make any excuses you want or bury your head in the sand, but Petrie is a ****ing disgrace. I don't believe a word that cretin utters and the sooner he's gone from our club the better.

[Mon Dieu4]

To be honest Di Stefanos email probably just got deleted, he is no longer allowed to act in England, Scotland or Italy

i recall the courts asked him for his legal qualification when trying to represent someone recently and he couldn't provide them, his response was along the lines of i don't need them

[Famous Fiver]

Qualified or not, I think Mr Di Stefano(?) has summed up the whole affair pretty accurately and it is going to take a Philadelphia lawyer to sort it all out.

When is it the new season starts? A week on Saturday?

Looks like this thread has a long time to run unless a new thread is started - Rangers in Liquidation'. That one will run for years!!!

[CropleyWasGod]

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To be honest Di Stefanos email probably just got deleted, he is no longer allowed to act in England, Scotland or Italy

i recall the courts asked him for his legal qualification when trying to represent someone recently and he couldn't provide them, his response was along the lines of i don't need them

The letter, though, was written in "his" capacity as a shareholder in RFC, albeit with the benefit of the knowledge that "he" has.

[LeighLoyal]

Meanwhile over on Sevco Media the trogs think they are about to be invited back in to save the SPL. Satan will ice skate to work first!

[Jim44]

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Meanwhile over on Sevco Media the trogs think they are about to be invited back in to save the SPL. Satan will ice skate to work first!

Same on FF and also that they would accept the invitation as long as it was without any sanctions af all. What planet are they on?

[Billy Whizz]

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Same on FF and also that they would accept the invitation as long as it was without any sanctions af all. What planet are they on?

If that was to happen, this and every site, would go down into meltdown

[Hibercelona]

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Same on FF and also that they would accept the invitation as long as it was without any sanctions af all. What planet are they on?

Thats awful nice and generous of them.

No doubt the SPL club chairman will bite their hands off with that offer.

[Part/Time Supporter]

Journos are reporting the Inverness chairman as saying that they have received assurances from sponsors and will stick by their no to newco position. This is after their much heralded "emergency" board meeting.

Sevco aren't getting in.

https://twitter.com/TyroneSTV

https://twitter.com/BBCBMcLauchlin

[Brando7]

My main concern is not the SKY deal or sponsors, it it actually the bank of who these clubs own money 2, you have have SFA head Regan saying armageddon, Huncaster saying meltdown all the papers saying 5-6 clubs going to the wall in weeks......if i was the bank i'd be like well wait just now U no doing a Rangers on us n demand their cash

Lets not forgot why all SPL slubs are in as much debt as they are in because the SFA demanded a 10,000 seater stadium that half empty every week at the cost of 10's millions of pounds..most clubs are probably still trying to pay this off and will be for years to come

[sh00byd00]

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Because you haven't given me much to go on other than a smiley, i have no idea why you disagree with me.

If you are swallowing this is all coming from Regan, with no input whatsoever from the rest of the SFA board members, then fair enough, keep posting smileys.

[tamig]

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My main concern is not the SKY deal or sponsors, it it actually the bank of who these clubs own money 2, you have have SFA head Regan saying armageddon, Huncaster saying meltdown all the papers saying 5-6 clubs going to the wall in weeks......if i was the bank i'd be like well wait just now U no doing a Rangers on us n demand their cash

Lets not forgot why all SPL slubs are in as much debt as they are in because the SFA demanded a 10,000 seater stadium that half empty every week at the cost of 10's millions of pounds..most clubs are probably still trying to pay this off and will be for years to come

to be fair, that was the SPL rule - not the SFA. Yet another ridiculous rule associated with this discredited Mickey Mouse organisation.

[The Falcon]

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My main concern is not the SKY deal or sponsors, it it actually the bank of who these clubs own money 2, you have have SFA head Regan saying armageddon, Huncaster saying meltdown all the papers saying 5-6 clubs going to the wall in weeks......if i was the bank i'd be like well wait just now U no doing a Rangers on us n demand their cash

Lets not forgot why all SPL slubs are in as much debt as they are in because the SFA demanded a 10,000 seater stadium that half empty every week at the cost of 10's millions of pounds..most clubs are probably still trying to pay this off and will be for years to come

Killie owe about £11m and they would appear to be in the worst position. Celtic owe £14m which is not really a problem. Hearts don't really count. Aberdeen owe about £13m but as long as wiggy is there, and wants to be there, this will not be an issue. We probably owe about £6m-£7m and, as the Dons substitute Wiggy for STF. United will owe around about £5m and, probably are the most vulnerable after Killie. motherwell owe probably less that 500k and ICT and St.M operate on an even keel with little (under £100k) or no debt at all. St. Johnstone operate profitably, or at least they did before this season.

I dont buy the Armageddon scenarios. Rangers have gone, and they were most likely to but others, Kilmarnock apart, are stable enough. Hearts could go either way and are technically insolvent, have been for years, but Vlad appears to be continuing to fund them.

[Part/Time Supporter]

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My main concern is not the SKY deal or sponsors, it it actually the bank of who these clubs own money 2, you have have SFA head Regan saying armageddon, Huncaster saying meltdown all the papers saying 5-6 clubs going to the wall in weeks......if i was the bank i'd be like well wait just now U no doing a Rangers on us n demand their cash

Lets not forgot why all SPL slubs are in as much debt as they are in because the SFA demanded a 10,000 seater stadium that half empty every week at the cost of 10's millions of pounds..most clubs are probably still trying to pay this off and will be for years to come

Most of the clubs don't have bank overdrafts because they aren't allowed them. Some have no debt at all, most of the rest (including Hibs) have structured debt (mortgages, guaranteed loans).

[CropleyWasGod]

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I think it may, and while there is a Glasgow Rangers the newco can't use the name unless HMRC allow them to do so, which they wont if there are court cases ongoing.

Apologies if that sounds like I know what I'm talking about. If it does, it was an accident.

They can use the name. Sevco bought it from RFC. HMRC have no say in the matter, anyway.

[CropleyWasGod]

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I stand corrected, cheers for that.

Do you know why they aren't using it now?

They would probably use Rangers as a trading name.... and, until the SFL season starts, they're not really trading. I'm fairly sure they will call themselves Rangers, or similar.

[basehibby]

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Same on FF and also that they would accept the invitation as long as it was without any sanctions af all. What planet are they on?

[Hibercelona]

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I stand corrected, cheers for that.

Do you know why they aren't using it now?

I think they need to re-register the name, even although they now own the rights.

[Hibs Class]

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Because you haven't given me much to go on other than a smiley, i have no idea why you disagree with me.

If you are swallowing this is all coming from Regan, with no input whatsoever from the rest of the SFA board members, then fair enough, keep posting smileys.

I'm sorry. I don't regard petrie as a "****ing disgrace" & I think he is far from bring a a cretin. Sometimes views are expressed, such as yours, where it is impossible to post anything other than a disbelieving smiley. Rest assured, however, that my head is far from being buried in the sand and I believe I have a fairly accurate view of both Regan and doncaster.

[ScottB]

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Same on FF and also that they would accept the invitation as long as it was without any sanctions af all. What planet are they on?

To be fair, if the SPL did go cap in hand to newco like that, if I was them I'd be making such demands. That says 'we need you or we are all doomed' so why not push their luck.


It's not going to happen of course, but it's by no means the most ridiculous thing they've come out with!

[ScottB]

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I think they need to re-register the name, even although they now own the rights.

They can't use the name as a company name till the oldco is finally liquidated. See Fiorentina, they didn't take their old name back till a good few years later. At the moment Rangers oldco are still a company, and two companies can't have the same, or overtly similar names...

[CropleyWasGod]

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They can't use the name as a company name till the oldco is finally liquidated. See Fiorentina, they didn't take their old name back till a good few years later. At the moment Rangers oldco are still a company, and two companies can't have the same, or overtly similar names...

The companies can't have the same names. As I said, though, Sevco bought Rangers, the brand (ie its trading name), and can therefore use it.

[Part/Time Supporter]

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The companies can't have the same names. As I said, though, Sevco bought Rangers, the brand (ie its trading name), and can therefore use it.

D&P have scheduled a company meeting for 31 July for the sole purpose of passing a resolution to change the name of RFC plc (IA). Thus freeing the name up for Sevco Scotland to use instead.

http://scotslawthoughts.wordpress.co...ball-club-ltd/

....

More on the Inverness "sticking to their guns" story.

http://www.google.com/hostednews/ukp...1342385138739A

Inverness still opposed to newco in SPL

(UKPA) – 35 minutes ago

Inverness have reaffirmed their opposition to the Rangers newco joining the Clydesdale Bank Premier League.

The Inverness board held an emergency meeting on Sunday to discuss the Scottish Football League decision to admit the Ibrox club to the Third Division and reject a plan to out them in the First.

Reports had claimed SPL clubs could be on the verge of a U-turn despite being expected to name Dundee or Dunfermline as the replacement for Rangers on Monday at their annual general meeting. But Inverness joined Dundee United and Hearts in this weekend stating they would not change their initial opposition to the SPL application.

And they dismissed claims their club will be placed in immediate danger from any reduction in income that comes with the SFL decision.

Chairman Kenny Cameron said in a statement: "We are one of the few clubs with no bank debt whatsoever, so our position is very far from immediately threatening, as has been alleged.

"We look forward to the new season on the back of renewed commitment over the weekend from our major shareholders and sponsors, for which we are very grateful.

"They fully appreciate that in May we, like other clubs, set our budget for 2012-13 and now there will be real change to the commercial curve because of events outwith our control.

"It is important that our supporters keep making their contribution via season ticket sales.

"We took their views on board and continue to hold the position that not allowing 'newco' Rangers into the SPL is the correct decision."

[CropleyWasGod]

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D&P have scheduled a company meeting for 31 July for the sole purpose of passing a resolution to change the name of RFC plc (IA). Thus freeing the name up for Sevco Scotland to use instead.

http://scotslawthoughts.wordpress.co...ball-club-ltd/

....

]

That is to avoid the two companies having the same name; Sevco will change their own name at the same time. However, as I say, the trading name is with Sevco already.... they can call themselves "Rangers" at any time.

[greenginger]

They will always be Sevco F C as far as I am concerned. Rangers Football Club died of shame and corruption.

[magpie1892]

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Papers on the other hand will release anything, regardless of whether its conformed facts or not.

Bollocks.

[blackpoolhibs]

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Bollocks.

Some papers will. That Craigy White lad could have solved this fiasco early doors, by using some of the billion pounds he has kicking around in his bank.

[Hibercelona]

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Bollocks.

Magpie1892..... I present to you....

The "Daily Record" and The "Scottish Sun".

[Just Alf]

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Magpie1892..... I present to you....

The "Daily Record" and The "Scottish Sun".

AND the fact that if you read what's said and any of the actual quotes.... Taking out the rags own spin..... You find that their meltdown stories are based on Sky walking away this season.

As Sky and ESPN have already (all be it low key) said they'd continue to the end of the existing contracts, and appear to have confirmed same to ICT this is yet another Weegiemedia story aimed at putting pressure on the fans and chairmen of all us "diddy" clubs :-)