Generic Sevco / Rangers meltdown thread

[Ozyhibby]

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That would make the most sense. They could then finally get rid of Super Swally and his overpaid signings, without any pay-offs, and still avoid a points deduction.


It's so sensible that it's never going to happen.

Those would all be football debts so would still be payable.
I suspect it's some of the commercial contracts that were signed by Green that they would like to get out of.

[Liberal Hibby]

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The cry was legal tender

The cash my father stored

[HFC 0-7]

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Those would all be football debts so would still be payable.
I suspect it's some of the commercial contracts that were signed by Green that they would like to get out of.

Dont think they would be football debts, it's only debts incurred out of admin that would be classed as football debts.

[CropleyWasGod]

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Dont think they would be football debts, it's only debts incurred out of admin that would be classed as football debts.

Money due to players under the term of their contracts is classed as football debt. I'm not sure about the coaching staff, although I suspect that they are as well.

[Cropley10]

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Will love it if their insistence on being the same club causes a 25 point penalty instead of just 15...

Ah but this is where the SFA have tied themselves in knots.

A Club cannot go into Administration only a Company can. The Company in this case is Sevco, which is a brand new Company.

By pretending that you can transfer history and this is the same Club - even though that Club was a part of the Company that went bust - they should by rights only get a 15 point penalty.

Rangers are in the third tier because they're a new Club. Pure & simple. A 15 point penalty should confirm this.

However no-one would expect the SFA to be unable to find a away to get round this.

[CropleyWasGod]

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Ah but this is where the SFA have tied themselves in knots.

A Club cannot go into Administration only a Company can. The Company in this case is Sevco, which is a brand new Company.

By pretending that you can transfer history and this is the same Club - even though that Club was a part of the Company that went bust - they should by rights only get a 15 point penalty.

Rangers are in the third tier because they're a new Club. Pure & simple. A 15 point penalty should confirm this.

However no-one would expect the SFA to be unable to find a away to get round this.

The SPFL rules are quite clear:-

"Where a Club, whether owned and operated by the same or a different Member,suffers or is subject to an Insolvency Event which results in a deduction of points in terms of these Rules and within 5 years of the date of such Insolvency Event suffers or is subject to a further Insolvency Event which is not part of the same Insolvency Process as the Insolvency Event then suffered, the points deduction applicable in terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25 points with the 15 points in Rules E2 and E3 being 25 Points."

Definitely 25 points :)

[Liberal Hibby]

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The SPFL rules are quite clear:-

"Where a Club, whether owned and operated by the same or a different Member,suffers or is subject to an Insolvency Event which results in a deduction of points in terms of these Rules and within 5 years of the date of such Insolvency Event suffers or is subject to a further Insolvency Event which is not part of the same Insolvency Process as the Insolvency Event then suffered, the points deduction applicable in terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25 points with the 15 points in Rules E2 and E3 being 25 Points."

Definitely 25 points :)

So Hearts start next season on -15 and Rangers on - 25. Excellent we can go down now and be certs to come straight back up!

[southsider]

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So Hearts start next season on -15 and Rangers on - 25. Excellent we can go down now and be certs to come straight back up!

Dont go there ! I would much rather we did not.

[Keith_M]

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Those would all be football debts so would still be payable.
I suspect it's some of the commercial contracts that were signed by Green that they would like to get out of.

My understanding was that any debts present at the point of Administration would be eligible but that the Administrators would then be able to cancel contracts once in Administration.

As far as I'm aware, that is a legitimate part of the Administration process and does not actually create any new debt.

[Weststandwanab]

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So Hearts start next season on -15 and Rangers on - 25. Excellent we can go down now and be certs to come straight back up!

No lets not tempt fate.

[Hibs Class]

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The SPFL rules are quite clear:-

"Where a Club, whether owned and operated by the same or a different Member,suffers or is subject to an Insolvency Event which results in a deduction of points in terms of these Rules and within 5 years of the date of such Insolvency Event suffers or is subject to a further Insolvency Event which is not part of the same Insolvency Process as the Insolvency Event then suffered, the points deduction applicable in terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25 points with the 15 points in Rules E2 and E3 being 25 Points."

Definitely 25 points :)

That sounds like -15 to me, if the alternative is that I accept they are the same club. Oldco died, which is why the rangers as a new club were allowed to enter the bottom league.

[CropleyWasGod]

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That sounds like -15 to me, if the alternative is that I accept they are the same club. Oldco died, which is why the rangers as a new club were allowed to enter the bottom league.

Read the bit I underlined. :)

Sevco own the club now. They bought that for £5 from RFC. Same club, different owner.

[greenginger]

http://www.bbc.co.uk/sport/0/football/27251815

Imran Ahmed is not going to be popular down Govan way.

I wonder if Sevco F C will try and argue that the ring fencing is unnecessary as they have plenty of money in the kitty.

[Nutmegged]

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Read the bit I underlined. :)

Sevco own the club now. They bought that for £5 from RFC. Same club, different owner.

Who owned the club then before Sevco?

Charlea Green bought the assets of the club from Rangers and a phoenix club was born!

[CropleyWasGod]

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Who owned the club then before Sevco?

Charlea Green bought the assets of the club from Rangers and a phoenix club was born!

RFC owned it. And they sold it to Sevco for £5.

That's my point. The rules are clear. It doesn't matter that they have had 2 different owners. It would be the second insolvency event involving the club. Therefore it would be a 25 point penalty.

[CropleyWasGod]

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http://www.bbc.co.uk/sport/0/football/27251815

Imran Ahmed is not going to be popular down Govan way.

I wonder if Sevco F C will try and argue that the ring fencing is unnecessary as they have plenty of money in the kitty.

Might just be the camel that breaks the Bears' back.

Signing out now. On the night flight to Delhi then the hippie wagon to Kathmandu.

Play nice when I'm away kids :-)

[GreenLake]

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Might just be the camel that breaks the Bears' back.

Signing out now. On the night flight to Delhi then the hippie wagon to Kathmandu.

Play nice when I'm away kids :-)

When I was in Kathmandu, I got into a drunken stupa.

[Ronniekirk]

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When I was in Kathmandu, I got into a drunken stupa.

namaste.Trekking in Nepal is one of those Life Changing Experiences .Took some Hibs tops to a school about 13,000 feet into the Annapurna range and played footie with them .might look out the prayer flag they gave me and see it it brings good Karma for tomorrow for the Hibees.

[greenpaper55]

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Might just be the camel that breaks the Bears' back.

Signing out now. On the night flight to Delhi then the hippie wagon to Kathmandu.

Play nice when I'm away kids :-)

But you cannot leave just when it's getting interesting ?.

[GreenLake]

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namaste.Trekking in Nepal is one of those Life Changing Experiences .Took some Hibs tops to a school about 13,000 feet into the Annapurna range and played footie with them .might look out the prayer flag they gave me and see it it brings good Karma for tomorrow for the Hibees.

I wish I could have gone up into the mountains on foot, must have been a brilliant trip. I'll have a look for the singing bowl and give it a wee scour before kick off.

[HFC 0-7]

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Money due to players under the term of their contracts is classed as football debt. I'm not sure about the coaching staff, although I suspect that they are as well.

Not sure that's right. as long as rangers have been paying their wages up to admin there will be no debt, they can then cancel the contracts.

[Nutmegged]

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RFC owned it. And they sold it to Sevco for £5.

That's my point. The rules are clear. It doesn't matter that they have had 2 different owners. It would be the second insolvency event involving the club. Therefore it would be a 25 point penalty.

It wasn't a take over though, it wasnt a business swooping in and juat buying a business, the CVA was rejected and Rangers as we know them went bust, Green then bought the assets from.Rangers and formed the phoenix club that stands before us today.

[Keith_M]

More stories of snouts in the trough...


Graham Wallace's salary = 315k

Potential bonuses for hitting unspecified targets = 315k

Car allowance = 15k

+ among other things, free private healthcare for him and his family.


Not bad work, if you can get it.

[emerald green]

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More stories of snouts in the trough...


Graham Wallace's salary = 315k

Potential bonuses for hitting unspecified targets = 315k

Car allowance = 15k

+ among other things, free private healthcare for him and his family.


Not bad work, if you can get it.

What do people like this actually do to justify that sort of remuneration? Still, if it helps take them down the tubes again, all the better.

[jacomo]

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From the Scotsman....

"Queen of the South won Scotland’s third tier and the Ramsdens Cup last year with a £650,000 football budget. With ten times the outlay this season, Rangers could not even do that double."

In other words, Sally's salary alone was bigger than QoS entire football budget.

[down-the-slope]

http://www.bbc.co.uk/sport/0/football/27251815

Imran Ahmed could become a legend if he succeeds in getting 620k frozen in his court case and it tips them into admin

[greenginger]

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http://www.bbc.co.uk/sport/0/football/27251815

Imran Ahmed could become a legend if he succeeds in getting 620k frozen in his court case and it tips them into admin

Then he would be nobody's " Paki-friend ".

[Keith_M]

Union of Fan(nie)s to go ahead with threat to withhold Season Ticket money. They claim only 2,000 Season Tickets have been bought so far.


They have also said, after his salary and bonus were revealed, that Graham Wallace's position is 'untenable' and that he should go.


-------------------------

On another note, is it just the same kind of co-incidence that causes the Blue Order to sound suspicously like the Orange Order and the Green Brigade to sound like the Old Brigade that, on seeing the acronym UoF, I immediately think of UVF?

I'm sure these things are all completely unintentional and that I'm just a suspicous old cynic.

[grunt]

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http://www.bbc.co.uk/sport/0/football/27251815

Imran Ahmed could become a legend if he succeeds in getting 620k frozen in his court case and it tips them into admin

Grant Russell ‏@STVGrant 3m Imran Ahmad has, for the second time, lost his case to have £620,000 arrested from Rangers ahead of his case alleging unpaid bonuses

[grunt]

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Union of Fan(nie)s to go ahead with threat to withhold Season Ticket money. They claim only 2,000 Season Tickets have been bought so far.

Statement from RIFC

"The Board of Rangers note with dismay the launch of the 'Ibrox 1972 fund' led by Dave King and Richard Gough.
"Attempting to create a fund that wishes to deprive revenue to the football club these men purport to love so much and create financial difficulty for Rangers, displays a twisted logic.
"For the avoidance of doubt and so that all Rangers fans are again reassured, the Board has stated that it has no intention of granting security over Ibrox to anybody. We have already shown in our actions - and not words - that our stadium is sacrosanct.
"Any supporters considering engaging with Ibrox 1972 Ltd should be clear that as the Club will not grant security over Ibrox to any such organisation, there is no prospect that any commitment to this new scheme will ever come to fruition and is therefore entirely meaningless. Nor will the Board enter into any agreement with a third party organisation on season ticket renewals, as is being suggested.
"Therefore this scheme is a worthless academic exercise created to serve the purposes of individuals and not the greater good of Rangers Football Club. It could never deliver the stability and security this football club and our supporters deserve.
"It is also important to note that should existing season ticket holders choose not to renew by the 16th May deadline, as is being encouraged, they could lose their seat allocation. The Club believes it must - as it always does at this time of the year - attempt to satisfy the requests we have received from current season ticket holders who wish to relocate to other available seats around the stadium.
"The absurd attacks made by individuals associated with this new scheme on Chief Executive Graham Wallace are disgraceful. Since Mr Wallace joined the Club he has worked tirelessly to create a Rangers fit for the future.
"Mr Wallace has brought his considerable business experience together with his extensive knowledge of top-level football operations and impeccable reputation to the Club and we continue to see the benefits of his work. To question his integrity, ability or professionalism as a means to discredit him personally and to undermine the Board generally is absolutely unacceptable.
"Mr Wallace has the Board's unequivocal support.
"We are only too aware that our incredibly loyal supporters have been through remarkably testing times in recent years, but Rangers has made significant progress in recent months, both on and off the field.
"A bright future awaits and we would respectfully ask our fans to support the Club and renew their season tickets. Season ticket sales are the largest single source of income for Rangers and only the Club and the team will suffer if some of this income is withheld.
"Any decision not to renew season tickets can only damage the Club. Such action would only serve to harm the very institution that is so dear to all of us."