Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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I have no doubt they will be able to justify the price.

£1.5m for Murray Park, Ibrox and the car park which was valued at £110m. Seems fair to me.

Yeah, throw in the players and the brand for nowt..... seems perfect.

[PatHead]

Are Duff and Phelps still doing "tidying up" work for Rangers or have they left the building? If so are they still running up fees?

[CropleyWasGod]

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Are Duff and Phelps still doing "tidying up" work for Rangers or have they left the building? If so are they still running up fees?

They are. I would have thought that, once the old company's name was changed (which I think it has been now), that would have been it.

However, clearly those shredding machines are a b*ggar to work.

[Caversham Green]

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I have no doubt they will be able to justify the price.

£1.5m for Murray Park, Ibrox and the car park which was valued at £110m. Seems fair to me.

And a quid for the goodwill - i.e. the 'Rangers' brand that attracted 40,000 season ticket holders last year and is 'one of the most successful and renowned football clubs in the world' to quote Duff & Phelps.

[VickMackie]

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I have no doubt they will be able to justify the price.

£1.5m for Murray Park, Ibrox and the car park which was valued at £110m. Seems fair to me.

It's a joke. If I was a multi millionaire I would have publicly made a bid of a few million for the assets at the time they were tryin to offload the club and they'd have been ****ed for selling at that price. :

[VickMackie]

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And a quid for the goodwill - i.e. the 'Rangers' brand that attracted 40,000 season ticket holders last year and is 'one of the most successful and renowned football clubs in the world' to quote Duff & Phelps.

I'd have bid 2 quid for that and gave it to my pizza delivery guy is a tip!

[Caversham Green]

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Now I get it!

Still loads of areas that you haven't explained, re: the points by FH ... Or has the sfa, spl and the sfl bent over to accommodate and just thrown the rule book out the window!!!...

There's some muddying of the waters re the transfer of membership etc. As I understand it an SFA licence is a different thing from SFA membership - membership can be and was transferred, the licence can't and was not. Oldco's accounts covered the financial reporting requirements for the membership and I believe the licence only needs a financial summary for the last three years, not audited accounts. A financial summary of Sevco's last three years is 'Nil' because they weren't in existence.

I think the only thing that needs audited accounts is a EUFA licence, which of course, Sevco haven't got.

[Kaiser1962]

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Now I get it!

Still loads of areas that you haven't explained, re: the points by FH ... Or has the sfa, spl and the sfl bent over to accommodate and just thrown the rule book out the window!!!...

I dont think the "football" side of this has gone according to plan as I dont expect that Sevco ever thought they would end up in Div3.

The financial side s a different matter though. From the timing of the entering of administration to the sale, a couple of weeks before the players could be sold on the open market to the amount of the debt that they have, literally, dumped means the financial planners have delivered their end.

Even that a bigger offer was recieved verbally by D+P when the CVA failed to stick, but D+P already claimed "binding, contractual agreement" with Sevco, therefore could not accept the higher offer.

D+Ps defence is/will be that "best and final offers" were to be recieved by April 4th despite the club not actually being sold for a further two and a half months.

[CropleyWasGod]

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And a quid for the goodwill - i.e. the 'Rangers' brand that attracted 40,000 season ticket holders last year and is 'one of the most successful and renowned football clubs in the world' to quote Duff & Phelps.

Ken.

I had a giggle at the Sevco director that put a price on the new club. Whilst most of us on here were saying "that's BDO's work done for them", Green was slapping his own forehead and saying "Prat. I want ten times as much as that!"

[LeighLoyal]

Let's not forget they have a new registration at companies house, that's why they can't use the oldco name. The company registration is more important than the SFA registration. They are a new entity, and are registered at company house as such. Sevco 5088.

[Caversham Green]

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Let's not forget they have a new registration at companies house, that's why they can't use the oldco name. The company registration is more important than the SFA registration. They are a new entity, and are registered at company house as such. Sevco 5088.

The oldco have changed their name to something like RFC 2012 and Sevco have changed their name to The Rangers Football Club Ltd.

[CropleyWasGod]

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Let's not forget they have a new registration at companies house, that's why they can't use the oldco name. The company registration is more important than the SFA registration. They are a new entity, and are registered at company house as such. Sevco 5088.

Not the case. The name was changed on 31 July.

http://wck2.companieshouse.gov.uk/44...d9/compdetails

[LeighLoyal]

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Not the case. The name was changed on 31 July.

http://wck2.companieshouse.gov.uk/44...d9/compdetails

date of incorporation 8/3/12.



Hope you enjoy the trip north tomorrow.

[CropleyWasGod]

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date of incorporation 8/3/12.



Hope you enjoy the trip north tomorrow.

Not sure of the points you're making.

Yes, Sevco were incorporated on 8 March. Subsequently, and I am saying this again, they 1. bought the Rangers name, and 2. changed their name to The Rangers Football Club Limited.

As for your second comment...... I have no plans for a trip north tomorrow.

[johnrebus]

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Let's not forget they have a new registration at companies house, that's why they can't use the oldco name. The company registration is more important than the SFA registration. They are a new entity, and are registered at company house as such. Sevco 5088.

Have asked these questions before, but no-one seems to know the answers.


If this is a 'Newco' Rangers, then why is there still talk of history, cups, titles, stars on jerseys etc. etc? There is no history, it is a new club. They cannot ditch the things (debt) they don't want, and keep the parts (cups etc) they do.

Who owns Ibrox and Murray Park?

Who are the investors in the CG consortium? (So much for SFA 'due diligence' on the admittance of a new club).

What part is Craig Whyte still playing in all of this?

What happened to the investigation of D&P for alledged 'conflict of interest'?

Why no word of Ticketus for the last five or six weeks?



As the seasons starts, it seems that the media call is, 'well thats the fitba started and the Gers are back, lets forget about the smell of **** and the occasional elephant in the room'.

[CropleyWasGod]

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Have asked these questions before, but no-one seems to know the answers.


If this is a 'Newco' Rangers, then why is there still talk of history, cups, titles, stars on jerseys etc. etc? There is no history, it is a new club. They cannot ditch the things (debt) they don't want, and keep the parts (cups etc) they do. See my comments about the brand above. Arguably, they bought them. However, it is an argument that will probably never be settled; in many ways, it is probably irrelevant.

Who owns Ibrox and Murray Park? I am still hanging off that fence, but coming down on the side that says one of Green's companies. BDO will find out.

Who are the investors in the CG consortium? (So much for SFA 'due diligence' on the admittance of a new club). There is a report this morning of two "billionaires" investing. Presumably, the due diligence process is one that is returned to periodically... every year, I think?

What part is Craig Whyte still playing in all of this? Collecting debts.

What happened to the investigation of D&P for alledged 'conflict of interest'? It will be ongoing. IMO, no need for that to be made public until it is completed.

Why no word of Ticketus for the last five or six weeks? They are a creditor like any other. Don't know that they have any other involvement



As the seasons starts, it seems that the media call is, 'well thats the fitba started and the Gers are back, lets forget about the smell of **** and the occasional elephant in the room'.

Some answers above.

[LeighLoyal]

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Have asked these questions before, but no-one seems to know the answers.


If this is a 'Newco' Rangers, then why is there still talk of history, cups, titles, stars on jerseys etc. etc? There is no history, it is a new club. They cannot ditch the things (debt) they don't want, and keep the parts (cups etc) they do.

Who owns Ibrox and Murray Park?

Who are the investors in the CG consortium? (So much for SFA 'due diligence' on the admittance of a new club).

What part is Craig Whyte still playing in all of this?

What happened to the investigation of D&P for alledged 'conflict of interest'?

Why no word of Ticketus for the last five or six weeks?



As the seasons starts, it seems that the media call is, 'well thats the fitba started and the Gers are back, lets forget about the smell of **** and the occasional elephant in the room'.

Let's also forget that they 'the Rangers of old, oldco = newco says Orcpley have been allowed to sign players when they have an outstanding football debt of £3m owed to other clubs, oldco= newco he says, but the SFA don't want to hinder such a bunch of cheats in any way. Let's leave all the debts behind and carry on like nothings changed except league status. Maybe Orcpley, sorry Cropley is right in one sense: they are the same rotten to the core, cheat institution, old sc um = new. All this Sevco stuff is just made up by Timothy and diddy's. In the meantime let's take the Sevorc coach to Peterhead.

[CropleyWasGod]

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Let's also forget that they 'the Rangers of old, oldco = newco says Orcpley have been allowed to sign players when they have an outstanding football debt of £3m owed to other clubs, oldco= newco he says, but the SFA don't want to hinder such a bunch of cheats in any way. Let's leave all the debts behind and carry on like nothings changed except league status. Maybe Orcpley, sorry Cropley is right in one sense: they are the same rotten to the core, cheat institution, old sc um = new. All this Sevco stuff is just made up by Timothy and diddy's. In the meantime let's take the Sevorc coach to Peterhead.

You seem to be suggesting that I am a Hun.

If I am, I must congratulate myself on the length of my deep-cover, and congratulate you on blowing that cover after such a long mission. Ten years on Hibs.net, I think?

That apart, at various points on this thread, I and my older and wiser mentor, Cav, have attempted to defuse some of the (understandable) emotional stuff surrounding the Huns. I am not normally one to say "show us yer medals", but we have done that on the basis of a combined 50-60 years' experience in our industry. I can't say that our interpretation of events has always been 100% correct, but it is always based on legal and commercial reality and experience, rather than emotion and wish-fulfilment.

Normally, if I am accused of incompetence at work, I have Professional Indemnity Insurance to fall back on. Being accused of being a Hun is something that even PII won't cover.

A simple withdrawal of your vile calumny will suffice.

[The Falcon]

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Let's also forget that they 'the Rangers of old, oldco = newco says Orcpley have been allowed to sign players when they have an outstanding football debt of £3m owed to other clubs, oldco= newco he says, but the SFA don't want to hinder such a bunch of cheats in any way. Let's leave all the debts behind and carry on like nothings changed except league status. Maybe Orcpley, sorry Cropley is right in one sense: they are the same rotten to the core, cheat institution, old sc um = new. All this Sevco stuff is just made up by Timothy and diddy's. In the meantime let's take the Sevorc coach to Peterhead.

This is just stupid.

[Wotherspiniesta]

Sickening watching Ian Blacks interview right now. Being shown around Ibrox by Luke Shanley who's saying " What does it feel like being part of a massive club like Rangers"

Is it just me? Newsflash! That's not who you've signed for Ian! That club no longer exists. You've joined a 3rd division team.

Hope a part timer goes in two footed on that little cokeheid.

[johnrebus]

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Let's also forget that they 'the Rangers of old, oldco = newco says Orcpley have been allowed to sign players when they have an outstanding football debt of £3m owed to other clubs, oldco= newco he says, but the SFA don't want to hinder such a bunch of cheats in any way. Let's leave all the debts behind and carry on like nothings changed except league status. Maybe Orcpley, sorry Cropley is right in one sense: they are the same rotten to the core, cheat institution, old sc um = new. All this Sevco stuff is just made up by Timothy and diddy's. In the meantime let's take the Sevorc coach to Peterhead.

Personally I would rather Hun FC had dissapeared for ever, but have to concede that it is probably a good thing that such as CWG attempt to reel us all in on occasion......,


However, to suggest that he is in any way one of the them, shows that you have not being paying attention over the last six months.


A graceful apology would probably be the best thing.

[Lucius Apuleius]

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Let's also forget that they 'the Rangers of old, oldco = newco says Orcpley have been allowed to sign players when they have an outstanding football debt of £3m owed to other clubs, oldco= newco he says, but the SFA don't want to hinder such a bunch of cheats in any way. Let's leave all the debts behind and carry on like nothings changed except league status. Maybe Orcpley, sorry Cropley is right in one sense: they are the same rotten to the core, cheat institution, old sc um = new. All this Sevco stuff is just made up by Timothy and diddy's. In the meantime let's take the Sevorc coach to Peterhead.

You are coming on here abusing a well respected Hibs supporter FH. Not good form. He is passing on professional knowledge. Methinks your days here will be numbered. Mr Cropley does not need me or anyone else to fight his corner and I see his answer to you is magnanimous to say the least. Little bit of advice from a Townie, drop it.

[down-the-slope]

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Let's also forget that they 'the Rangers of old, oldco = newco says Orcpley have been allowed to sign players when they have an outstanding football debt of £3m owed to other clubs, oldco= newco he says, but the SFA don't want to hinder such a bunch of cheats in any way. Let's leave all the debts behind and carry on like nothings changed except league status. Maybe Orcpley, sorry Cropley is right in one sense: they are the same rotten to the core, cheat institution, old sc um = new. All this Sevco stuff is just made up by Timothy and diddy's. In the meantime let's take the Sevorc coach to Peterhead.

Crops has more posts on this thread than you have in total....who do we know more about

'Why be thought a fool when you can open your mouth (bash your key board) and remove all possible doubt'

[ballengeich]

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have been allowed to sign players when they have an outstanding football debt of £3m owed to other clubs, oldco= newco he says,

Contradicting yourself FH. The football debt was run up by the old Rangers so if the new club has no relationship to the old Rangers it has no liability for the old club's debt. The rest of your post is not worth commenting on.

[LeighLoyal]

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Contradicting yourself FH. The football debt was run up by the old Rangers so if the new club has no relationship to the old Rangers it has no liability for the old club's debt. The rest of your post is not worth commenting on.

It's Cropley that says oldco = newco pal. If so they shouldn't be allowed to sign players with £3m still owed to member clubs. Try and read what is being said.

[LeighLoyal]

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You are coming on here abusing a well respected Hibs supporter FH. Not good form. He is passing on professional knowledge. Methinks your days here will be numbered. Mr Cropley does not need me or anyone else to fight his corner and I see his answer to you is magnanimous to say the least. Little bit of advice from a Townie, drop it.

It was said tongue in cheek, but he is bigging up The Rangers as being Rangers, I.E no change. So I will be banned because I don't agree with a 'well respected' reg over the status of The Rangers FC. Hmmm, I kind of see why this place is quiet.

[johnrebus]

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It was said tongue in cheek, but he is bigging up The Rangers as being Rangers, I.E no change. So I will be banned because I don't agree with a 'well respected' reg over the status of The Rangers FC. Hmmm, I kind of see why this place is quiet.

You will not be banned, that is not the point.


The hole is big enough, stop digging.

[cocopops1875]

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It's Cropley that says oldco = newco pal. If so they shouldn't be allowed to sign players with £3m still owed to member clubs. Try and read what is being said.

Cropley is stating actual facts from a subject he seems to know a fair bit about you on the other hand seem to be missing more than the point

[Mikey]

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Let's also forget that they 'the Rangers of old, oldco = newco says Orcpley have been allowed to sign players when they have an outstanding football debt of £3m owed to other clubs, oldco= newco he says, but the SFA don't want to hinder such a bunch of cheats in any way. Let's leave all the debts behind and carry on like nothings changed except league status. Maybe Orcpley, sorry Cropley is right in one sense: they are the same rotten to the core, cheat institution, old sc um = new. All this Sevco stuff is just made up by Timothy and diddy's. In the meantime let's take the Sevorc coach to Peterhead.

There's absolutely no need for that. CWG has done nothing but post facts in this thread and if you don't agree with those facts there's nothing he can do about it.

[ballengeich]

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It's Cropley that says oldco = newco pal. If so they shouldn't be allowed to sign players with £3m still owed to member clubs. Try and read what is being said.

So do you think they should not have been asked to repay these debts? Also, if the dual contract investigation finds that Rangers had been fielding ineligible players for years, should the new company be exempt from any football penalties going forward - fines, point deductions etc?