Share Transfers Agreed/Cooling off period

[leggeto]

If the spfl was to say if you accept relegation now you can sign under 21s would that clear anything up?

[Biggie]

No deals.....would make a mockery of an already laughing stock of a league

[leggeto]

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No deals.....would make a mockery of an already laughing stock of a league

I do agree,just a thought as it looks like they are trying to avoid relegation the sneaky cants

[Aldo]

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If the spfl was to say if you accept relegation now you can sign under 21s would that clear anything up?

They know the are going to be relegated. They want to sign players to play in SF of League Cup to give them a better chance of getting to final and making more money. Simple as that.

Nowt to do with burn out of players etc.

[Dashing Bob S]

The lack of income from no home fixtures is a crucial issue. Expect a lot of bluster and panic generated by the club through the press over the next few weeks.

[Mon Dieu4]

To be honest, they should be punished even more, they have clearly spoken to a couple of players to sound them out if any change takes place in the embargo. Blatantly flaunting the rules, punish them again for their cheek haha

[Aldo]

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The lack of income from no home fixtures is a crucial issue. Expect a lot of bluster and panic generated by the club through the press over the next few weeks.

No more than normal then. ;-)

[whiskyhibby]

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They know the are going to be relegated. They want to sign players to play in SF of League Cup to give them a better chance of getting to final and making more money. Simple as that.

Nowt to do with burn out of players etc.

Completely agree, if the SPFL allow this there will be an almighty outcry and backlash

[Geo_1875]

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£150.000+ is development fee, even I wouldn't grudge them that

Surely any development fee should.be payable to Heriot Watt?

[whiskyhibby]

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Surely any development fee should.be payable to Heriot Watt?

No the cash will go on the youth development coach role they are currently posting on their website.......

[truehibernian]

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They know the are going to be relegated. They want to sign players to play in SF of League Cup to give them a better chance of getting to final and making more money. Simple as that.

Nowt to do with burn out of players etc.

Agree and disagree there Aldo - I genuinely believe they think that whilst there is 51 points up for grabs, getting a few players in and getting a run of wins will turn the heat up on Ross County and Partick - I genuinely believe Hearts and BDO think that. The gap may seem insurmountable but the clubs mentioned can still be caught or pressured. A wee burst of wins, say 5 games, can close the gap and then the split brings added pressure and tension. It's what saved Calderwood when we went a few games unbeaten tail end of his season when we won 4 or 5 and eased away from relegation.

I agree with you that they also need that cup final for finance. Season is utterly utterly down the preverbial pan if they lose to ICT.

I just want to play them again and beat them again, as soon as possible

[Spike Mandela]

Ex Hearty Harry says Rangers fans annd other teams fans wouldn't want embargo lifted.....

DAVE DONALDSON (@doubledee1973)
10/01/2014 13:11
Ally McCoist says Rangers fans and other teams fans would understandably be unhappy if player registration rules were relaxed for hearts

[Aldo]

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Agree and disagree there Aldo - I genuinely believe they think that whilst there is 51 points up for grabs, getting a few players in and getting a run of wins will turn the heat up on Ross County and Partick - I genuinely believe Hearts and BDO think that. The gap may seem insurmountable but the clubs mentioned can still be caught or pressured. A wee burst of wins, say 5 games, can close the gap and then the split brings added pressure and tension. It's what saved Calderwood when we went a few games unbeaten tail end of his season when we won 4 or 5 and eased away from relegation. I agree with you that they also need that cup final for finance. Season is utterly utterly down the preverbial pan if they lose to ICT. I just want to play them again and beat them again, as soon as possible

See where your coming from... It's not over till it's mathematically impossible. And you are of course correct bout a few wins making all the difference.

If I'm being honest id be happy never to play them again as I want the liquidated. Have done from the off. However would be happy if the game at the PBS was the last and at the same time we relegated them.

That would be pleasing, very pleasing. :-D

[fat freddy]

Scenario... The SPFL lift the embargo, Hearts sign a few players, beat ICT in the semi, overtake Ross County and Partick in the league, win the cup final against a St. Johnstone outfit that have been a perfect example of fiscal prudence over the last ten years

These are the possibilities, however improbable, that the administrators of our game have to weigh up when deciding their next course of action when dealing with the BDO begging campaign. If they were to allow the rules to be bent to accomodate Hearts it would probably result in a tsunami of lawyers letters from the clubs who have been disadvantaged by any decision which might have benefited Hearts.

[cabbageandribs1875]

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Surely any development fee should.be payable to Heriot Watt?

they in turn would just donate it to hertz, Herriot Watt uni...the uni that likes giving

[alley balley0-7]

i just hope the spfl stick to the rules, sick of hearing about youngssters and the quicker the yams go down the better

[Jack]

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In my opinion what we are seeing at Hearts are frantic behind the scenes planning - I'm utterly convinced that when BDO took the job on they had it in their heads that the 15 points would be overhauled and that they would have a fighting chance of staying in the SPFL - and their business model was all geared to being in the same league next season.

Now that it is looking highly likely they will be relegated in last place, I think they are in a panic big time. If you sit back, breath, take it all in and listen to the reason they are now giving - health and safety of young players - you simply have to laugh, and I do mean laugh out loud.

The Championship next season will include The Rangers. It may include Dunfermline (now out of admin). It has clubs like Alloa, Hamilton/Dundee, Queen of the South and perhaps will contain a current SPFL side if they fail to win their play off - that is a very very hard league to come out of first time of asking. I honestly dont think BDO, or indeed FoH, planned for this worst case scenario - but maybe that's just me.

Totally agree, they were hoodwinked by their own publicity, and I'm currently having a good laugh at them.

[dangermouse]

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Ex Hearty Harry says Rangers fans annd other teams fans wouldn't want embargo lifted.....

DAVE DONALDSON (@doubledee1973)
10/01/2014 13:11
Ally McCoist says Rangers fans and other teams fans would understandably be unhappy if player registration rules were relaxed for hearts

That's the only sensible thing he has ever said.

[adhibs]

Now that BDO have made a cry for help based on dwindling attendances I wonder if they'll count folk through the turnstiles instead tomorrow.

[Jim44]

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Surely any development fee should.be payable to Heriot Watt?

Nah. Heriot Watt deserve everything that comes their way or more aptly doesn't come their way. After being royally shafted by their tennants for months, they are still eager to remain bedfriends with them. More fools them.

[Deansy]

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They know the are going to be relegated. They want to sign players to play in SF of League Cup to give them a better chance of getting to final and making more money. Simple as that.

Nowt to do with burn out of players etc.

That and (possibly ??) be the '1st team relegated from the top-flight that won a cup in same season' ??. I do think the latest round of 'begging, pleading, greeting' etc is more to do with the League-cup SF simply for the reason they're going out of their way to avoid mentioning it - think about it, when was the last time THEY got to a SF and news/talk about it was WASN'T rammed down everybody's throats ??

[JeMeSouviens]

Interesting (and could well be genuine) leak from the latest incarnation of CharlotteFakes. It purports to be a proposal circulating within the SPFL to formalise the *******isation of the rules a la NewHun to spring a phoenix out of the flames and directly into the leagues. Executive summary is they would transfer the membership to a newco buying the business and assets of a club in exchange for a "sanction relegation".

If this is passed by the SPFL clubs*, FoH buys "Hearts" in a liquidation and the current Yams finish 12th as expected, then New Yams will start life in League 1 next season. Wonder how that looks in the business plan?



* personally, I would think fan power (in this case with the foaming New Huns in full on lynch mob mode) would hamstring the clubs into voting this down unless the Hun transfer precedent of new club starting at the bottom is followed.

“NewCo” in the Context of an Insolvency Event

Introduction

The SPFL Articles and Rules both contain a definition of Insolvency Event. The definition is identical. The possibility of an insolvent owner and operator of a Club applying to effectively exit insolvency by means of a share transfer of the SPFL share from the insolvent owner and operator to a new solvent owner and operator of a Club is not expressly referenced as an Insolvency Event.
A CVA is referenced as an Insolvency Event but would not typically of itself attract a 15 point deduction in accordance with section E of the SPFL Rules because, except in exceptional cases, a CVA would be part of an Insolvency Process and each stage of one Insolvency Process does not attract individual 15 point penalties.

The traditional exit route of an owner and operator of a Club from insolvency is by means of a CVA and it has been tacitly accepted by Clubs, both in the SPL and SFL, that a single sporting sanction of a one off deduction in points is appropriate for a single Insolvency Process where a CVA is used as an exit method providing that the whole Insolvency Process is completed within the same Season and the immediately succeeding close Season.

In effect, the SPFL Rules provide that if the Insolvency Process as a whole is not completed for the start of the following Season then a further 15 point penalty results.

There are instances in England where, for whatever reason, a CVA route has not been possible to implement in order to exit an Insolvency Process and in Scotland, to date, we have the one example of Rangers FC where a CVA could not achieve the requisite 75% vote of creditors in favour of the CVA proposal.

In such circumstances, if "a Club" is to be "saved" and not to suffer the fate of Third Lanark and Clydebank then the only solution is what has become known as the NewCo solution.

In contradistinction to football the NewCo means of exiting an insolvency situation with the business continuing, albeit with new owners, is the norm. Often this is accomplished by a "pre-pack". Whilst CVAs have become slightly more popular in general business in the course of the last few years, the great majority of Insolvency Processes which involve the "saving" of the business are implemented by means of a NewCo typically as a component of a pre-pack.

For whatever reasons a NewCo solution to an Insolvency Process is regarded negatively in football and the widely held view is that additional sporting sanctions, over and above any sporting sanctions that might have been imposed at the time of administration (15 or 25 point penalty and registration restrictions in the case of the SPFL) ought to result from a NewCo solution being adopted to secure an exit from insolvency.

SPFL Articles

The possibility of the transfer of the business assets and undertaking of a Club between one owner and operator and a new owner and operator has always been envisaged in the Articles of Association of the SPL. The relevant current SPFL Articles are 31 to 43 (inclusive).

These Articles apply whether the context of the proposed NewCo is one which involves an Insolvency Event or otherwise.

So far as SPFL Limited is concerned the critical component of a NewCo Transaction is the transfer of the one SPFL Limited share held by the existing owner and operator of the Club ("OldCo") to the proposed new owner and operator of the Club ("NewCo").

Subject to a series of mandatory requirements where to consent to the registration of the transfer of the SPFL Limited share must be refused, the Board of the SPFL Limited has absolute discretion, unfettered by any express criteria, to approve or otherwise the registration of the transfer of an SPL share between owners except in the context of relegation and promotion.
The discretion is not limited by any express criteria becausethe discretion must be exercised in the best interests of SPFL Limited and the members of SPFL Limited. In short, the members of the Board cannot either refuse to approve the registration or decline to approve the registration for reasons which are not reasons having regard to the interests of SPFL Limited and its shareholders.
Rangers FC

It is important to bear in mind that whilst Rangers FC spent Season 2011/2012 playing in the SPL and Season 2012/2013 playing in Division 3 of the SFL, that was not as a consequence of any sanction or penalty imposed either by the SPL, SFL or, for that matter SFA. Rather, what some argue effectively amounted to a relegation of three divisions was the result of the then shareholders in SPL Limited not agreeing to register the transfer of the Rangers OldCo share in SPL Limited from Rangers OldCo to Rangers NewCo and then Rangers NewCo only being able to secure associate membership of the SFL on the basis that Rangers FC, owned and operated by NewCo, would enter the SFL in Division 3.

There are many, and to some extent, conflicting analysis and rationales as to why the result was as it came to be of that process and, in the present context, there is unlikely to be any benefit in further examination of the events which led to it.

NewCo Arrangements in Insolvency Contexts – for discussion

It is understood that there is a view held by a number of SPFL Clubs that explicit provision should be made for a specific sporting sanction to be imposed in the event of "a Club" seeking to emerge from an Insolvency Process by use of a NewCo procedure. Whilst SPFL Article 33 entitles the Board to attach whatever conditions that it thinks fit to the approval of the transfer of an SPFL Limited share between an Oldco and a Newco, it is considered by some not to be appropriate to leave decision making on such conditions to the unfettered discretion of the Board.

The proposal that has been articulated is that whatever other conditions may be attached to the approval of the registration of the transfer of an SPFL Limited share in an insolvency context, the conditions should, as a minimum, require that the Club concerned be relegated by one division if a NewCo solution is implemented ("Sanction Relegation").

If the Club concerned were to be liable to be relegated in any event, by reason of its position in the relevant division at the end of the Season or by virtue of the result of a Play-Off Competition then the Sanction Relegation should be applied on top of the "Sporting Relegation".

The proposal is best explained by example.
Assume during a Season that the owner and operator of a Club suffers an Insolvency Event, most likely an administration, the result would be that the Club owned by that owner and operator would immediately suffer the fixed 15 points deduction. Assume that the Club is playing in the Premiership and that at the end of the relevant Season the Club concerned holds tenth place in the Premiership, taking account of the points deduction for the administration. Assume also that the Club is unable to exit its Insolvency Process by any means other than a NewCo solution. In such circumstances the Club concerned would, as part of the conditions attached to the SPFL share transfer, be relegated to play in the Championship in the immediately succeeding Season i.e. a “Sanction Relegation” would automatically be applied.

If the same Club were to finish in twelfth place in the Premiership at the end of the Season in question, taking into account the 15 points sporting sanction, then the Club would be relegated initially to the Championship, being a Sporting Relegation, and would then be subject to the Sanction Regulation taking the Club down to play in Division 1 in the immediately succeeding Season.
Precisely identical principles would be applied in the case of Clubs in the Divisions below the Premiership in the relevant Season.

One anomaly could arise where the Club using the NewCo solution finished in a play-off place at the end of a Season. The proposal in that situation is that the Club in last place in the Division shall participate in the play-off competition and the Club using the NewCo solution would be automatically relegated.

Further detailed provision would need to be made in the Rules for situations in which more than one Club in any one Season in any one Division uses a NewCo solution and/or are in the Divisional play-offs or are compelled to take part in the Pyramid Play-Off Competition from League 2 in which case some kind of pre-play-off competition(s) would need to be included in the Rules. Detailed provision would also require to be made for which Club(s) would be promoted as a consequence of a Sanction Relegation.

[JeMeSouviens]

continued long post ...

Steps Required for Implementation

The above approach to Sanction Relegation by essentially one Division has unanimous support from the Board. The next step is to identify the extent of support for the proposal amongst the Clubs.

Any change in the existing arrangements would require amendment of the Articles which would require (i) 11 Premiership Clubs to vote in favour (i.e. 11 Clubs); (ii) 75% of the Clubs comprised in both The Premiership and The Championship; and (iii) 75% of all the Clubs in membership of the SPFL.

The required changes are to Articles which are not included in SPFL Article 194 and therefore the three year moratorium and the 100% vote in favour do not apply.
 
One option would be to take the proposal as a discussion matter to Clubs at an All Club Meeting in order to identify the level of support. If the support was at a sufficient level and was sufficiently broad based to indicate likely adoption by the required majorities, then detailed drafting could be undertaken with a view to bringing proposed amendments to the Articles to the General Meeting proposed for 13 January.



SPFL Board
16 September 2013

[lucky]

There is no way in hell the rules are going to bent or changed during the season. It's embarrassing enough that the league is even listening to this rubbish.

[JimBHibees]

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Don't think so as they already hold his registration.

Surely the registration would go to the team that own him.

[tamig]

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I have just been informed by a Jambo in my work Hearts had 5 players lined up to sign for them had their transfer embargo been relaxed...this is brilliant the names were Skacel, Goodwillie, Gomes from Dundee Utd, Boyd and some young guy from Liverpool

He was obviosuly listening to that erse Ewan Murray on Sportsound during the week. Those were the names on Cocke's transfer target list before they went belly up in the summer. Incidentally, the Liverpool lad is Flanagan - who's now doing pretty well in the first team there. Ask the yam if he thinks the young lad would give up that to "fight" against relegation!

[nribs]

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He was obviosuly listening to that erse Ewan Murray on Sportsound during the week. Those were the names on Cocke's transfer target list before they went belly up in the summer. Incidentally, the Liverpool lad is Flanagan - who's now doing pretty well in the first team there. Ask the yam if he thinks the young lad would give up that to "fight" against relegation!

He is a she :) she kens all the players and that so it's factual according to her :)

[Gus Fring]

A few things about the Adam Kind deal. I've just been told the deal currently on the table will only be if he moves now or a smaller amount in the summer if he doesn't (Swansea are basically paying to get him now) He's not on much at Hearts so they should be able to offer him a new contract and trigger the development fee. The money will not be paid to Hearts in full straightaway. I've also been told the offer isn't £200,000. It may potentially rise to that when all is said and done but it's not a simple £200k and he's away.

BDO want him to go now so they can maximise the income from him.

There are other offers on the table for other players but the feedback from said players is they don't want to go just now. This is hampering BDO's willingness to sell and keep the club afloat beyond April.

[JeMeSouviens]

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A few things about the Adam Kind deal. I've just been told the deal currently on the table will only be if he moves now or a smaller amount in the summer if he doesn't (Swansea are basically paying to get him now) He's not on much at Hearts so they should be able to offer him a new contract and trigger the development fee. The money will not be paid to Hearts in full straightaway. I've also been told the offer isn't £200,000. It may potentially rise to that when all is said and done but it's not a simple £200k and he's away.

BDO want him to go now so they can maximise the income from him.

There are other offers on the table for other players but the feedback from said players is they don't want to go just now. This is hampering BDO's willingness to sell and keep the club afloat beyond April.

So while bleating incessantly about 16 year olds (15 if you're strugglin'), health and safety, etc. they're going to let an 18 year old move now. Whod've thought it?

[tamig]

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A few things about the Adam Kind deal. I've just been told the deal currently on the table will only be if he moves now or a smaller amount in the summer if he doesn't (Swansea are basically paying to get him now) He's not on much at Hearts so they should be able to offer him a new contract and trigger the development fee. The money will not be paid to Hearts in full straightaway. I've also been told the offer isn't £200,000. It may potentially rise to that when all is said and done but it's not a simple £200k and he's away.

BDO want him to go now so they can maximise the income from him.

There are other offers on the table for other players but the feedback from said players is they don't want to go just now. This is hampering BDO's willingness to sell and keep the club afloat beyond April.

All sounds pretty good. BDO could have a big issue here if these players continue to refuse to go.