Generic Sevco / Rangers meltdown thread

[Ozyhibby]

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Given their experience in the previous season, I would have thought the answer was obvious.

True.


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[Billy Whizz]

When is the day DK has to pay up, must be soon

[Ozyhibby]

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When is the day DK has to pay up, must be soon

Tomorrow Billy, but I’m sure we would have heard by now if an offer was being prepared given what’s involved. He’ll be in contempt by Friday.


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[Jack Hackett]

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Thing is, it could be us this year. Will Hibs say anything? The rules are quite clear and they are clearly in breach of them.


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Should the issue arise, I'm pretty sure our support will be a damn sight more vociferous about it than the docile quiescent yams were.

[Ozyhibby]

From the yams q&a on kickback
—————————
Q35. Will Hearts seek assurances from the SFA that Rangers meet FFP criteria for a UEFA Licence for season 2018/19, given that the company has publicly reported substantial losses in each of its five years existence and requires further funding of £7.2m over the next two seasons as identified in their last accounts? I would add that Hearts as a member club of the SFA, in conjunction with all other clubs, has a duty to uphold the rules and integrity of the game. In Rangers case, and as a result of their financial record over a number of years, I don’t think that it is enough to accept self-certification by the club.
AB: All I can say is that at Hearts, we have to jump through a lot of hoops to ensure we comply with FFP (Financial Fair Play) rules. We must assume that UEFA does the same with all other clubs and it's UEFA who decide if a team can play in Europe or not. It's not a question of whether a club is in debt. It's a case of, is that club in a position to pay the debt back. We have to complete enormous amounts of paperwork to UEFA, the SFA, the SPFL. When we took over in 2014, we had to attend a lot of meetings to prove we could run a financially viable football club. There is no reason to think Rangers are being treated any differently from any other team in that respect.












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[Spike Mandela]

Ann Budge: “Can the SFA confirm how they determined Rangers eligibility for European competition given their flagrant abuse of FFP rules”

Shady SFA thug in car park: “Miss Budge we know exactly how Hearts shafted creditors and how they systemstically robbed the taxman and got away with it due to friends in high places. We know where the bodies are buried and will lay bare every corrupt practice your club has been involved in over the last 15 years or so. We also know the true capacity at Tynecastle.”

Ann Budge: “Time to move on”

[Eyrie]

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Thing is, it could be us this year. Will Hibs say anything? The rules are quite clear and they are clearly in breach of them.


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The fact that Sevco have already been allowed to play in Europe would mean that any protest would fail to Progres beyond the first round.

[SJNB Hibby]

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The fact that Sevco have already been allowed to play in Europe would mean that any protest would fail to Progres beyond the first round.

I see what you did there

• 
  

[Smartie]

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Thing is, it could be us this year. Will Hibs say anything? The rules are quite clear and they are clearly in breach of them.


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Are the rules clear though, and are they so obviously in breach?

Don't get me wrong - I would dearly love this to be true.

But I just cannot understand why, if they were genuinely breaching the rules that cheated clubs would continue to cheat their own fans by being complicit in it all?

Budge's comments sound reasonable to me.

Oh, and I was most certainly not one of the "move along brigade". If Hibs were to miss out, I'd have a lot to say about it.

[CropleyWasGod]

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Are the rules clear though, and are they so obviously in breach?

Don't get me wrong - I would dearly love this to be true.

But I just cannot understand why, if they were genuinely breaching the rules that cheated clubs would continue to cheat their own fans by being complicit in it all?

Budge's comments sound reasonable to me.

Oh, and I was most certainly not one of the "move along brigade". If Hibs were to miss out, I'd have a lot to say about it.

The rules aren't clear. Ozy and I have different views on them. I can see why RFC might be granted a licence. Ozy sees them differently.



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[Bostonhibby]

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From the yams q&a on kickback
—————————
Q35. Will Hearts seek assurances from the SFA that Rangers meet FFP criteria for a UEFA Licence for season 2018/19, given that the company has publicly reported substantial losses in each of its five years existence and requires further funding of £7.2m over the next two seasons as identified in their last accounts? I would add that Hearts as a member club of the SFA, in conjunction with all other clubs, has a duty to uphold the rules and integrity of the game. In Rangers case, and as a result of their financial record over a number of years, I don’t think that it is enough to accept self-certification by the club.
AB: All I can say is that at Hearts, we have to jump through a lot of hoops to ensure we comply with FFP (Financial Fair Play) rules. We must assume that UEFA does the same with all other clubs and it's UEFA who decide if a team can play in Europe or not. It's not a question of whether a club is in debt. It's a case of, is that club in a position to pay the debt back. We have to complete enormous amounts of paperwork to UEFA, the SFA, the SPFL. When we took over in 2014, we had to attend a lot of meetings to prove we could run a financially viable football club. There is no reason to think Rangers are being treated any differently from any other team in that respect.












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So that's. Q.35

Answer. No. But lots of Mrs doctor Budge type words around it.

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[Ozyhibby]

https://thecelticblog.com/2018/03/bl...mpression=true

Goes without saying that I hope this is true


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[CropleyWasGod]

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https://thecelticblog.com/2018/03/bl...mpression=true

Goes without saying that I hope this is true


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Sorry to be my usual Meldrew, but a lot of that is bull****.

There are audited accounts, up to 30 June 17. There can't be any more recent than that.

The Going Concern stuff is a separate matter. I know we disagree on that bit, but I think RFC can get round that issue.

[ballengeich]

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Sorry to be my usual Meldrew, but a lot of that is bull****.

There are audited accounts, up to 30 June 17. There can't be any more recent than that.

The Going Concern stuff is a separate matter. I know we disagree on that bit, but I think RFC can get round that issue.

Apparently they've issued interim accounts by this time in previous years. I don't know whether that's relevant to EUFA licensing.

Aside from that, the conversations on Rangers' fans' sites are remarkable You'd think that the club chairman, who's supposed to be covering their operating deficit up till next summer, possibly about to become in comtempt of court and liable to summary arrest if he ever jets in to the UK again would be a matter of concern. There isn't even a thread anywhere asking whether or not he's complied with the COS order.

What they are discussing is possible big name managers for next season, transfer targets when the imminent share issue brings in a fortune, and whether the next eight figure bid for Morelos should be accepted. And, of course, there's the usual bile about media and other bias against them.

[CropleyWasGod]

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Apparently they've issued interim accounts by this time in previous years. I don't know whether that's relevant to EUFA licensing.

Aside from that, the conversations on Rangers' fans' sites are remarkable You'd think that the club chairman, who's supposed to be covering their operating deficit up till next summer, possibly about to become in comtempt of court and liable to summary arrest if he ever jets in to the UK again would be a matter of concern. There isn't even a thread anywhere asking whether or not he's complied with the COS order.

What they are discussing is possible big name managers for next season, transfer targets when the imminent share issue brings in a fortune, and whether the next eight figure bid for Morelos should be accepted. And, of course, there's the usual bile about media and other bias against them.

The SFA require audited accounts for their own licence.

The interim accounts wouldn't be audited. However, they might be used to support the case for a UEFA licence.

Then again, they might hinder the case.

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[southsider]

Was today not the day when DK had to put an offer for RFC shares ? If no bid is he in comptempt ?

[Ozyhibby]

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The SFA require audited accounts for their own licence.

The interim accounts wouldn't be audited. However, they might be used to support the case for a UEFA licence.

Then again, they might hinder the case.

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You were spot on. They have clarified.

https://thecelticblog.com/2018/03/bl...mpression=true












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[Smartie]

Interesting wee article.

http://www.dailymail.co.uk/sport/spo...mpression=true

Nothing to do with Rangers, but it shows you some of the dodgy dealings that seem to go on at football clubs, who are awash with money that crooks love to get their hands on.

Why here? I was interested to see about a third of the way down that Derby's parent company are "Sevco 5112 Limited". Where did the "Sevco" part come from again? Were the people who were involved in producing the zombie entity involved at Derby at some point?

[CropleyWasGod]

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Interesting wee article.

http://www.dailymail.co.uk/sport/spo...mpression=true

Nothing to do with Rangers, but it shows you some of the dodgy dealings that seem to go on at football clubs, who are awash with money that crooks love to get their hands on.

Why here? I was interested to see about a third of the way down that Derby's parent company are "Sevco 5112 Limited". Where did the "Sevco" part come from again? Were the people who were involved in producing the zombie entity involved at Derby at some point?

Solicitors and company registration agents often have ready-made companies for people to buy "off the shelf". The buyer then changes the company name.

It's possible that Charles Green used the same agents as the Derby guys.

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[Billy Whizz]

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Solicitors and company registration agents often have ready-made companies for people to buy "off the shelf". The buyer then changes the company name.

It's possible that Charles Green used the same agents as the Derby guys.

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What’s the law on someone having a scouting agreement, without scouting experience, or even less doing it. Must be for tax reasons only?

[CropleyWasGod]

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What’s the law on someone having a scouting agreement, without scouting experience, or even less doing it. Must be for tax reasons only?

It won't be for tax reasons. At that level of income, the top rate of tax would be due no matter what.

I can only think that these payments are a way of getting additional cash out of the club for the Ince family over and above his (published) managerial salary.

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[Billy Whizz]

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It won't be for tax reasons. At that level of income, the top rate of tax would be due no matter what.

I can only think that these payments are a way of getting additional cash out of the club for the Ince family over and above his (published) managerial salary.

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Presume you mean Tom Ince, his dad wasn’t the manager

[CropleyWasGod]

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Presume you mean Tom Ince, his dad wasn’t the manager

Sorry...didn't read the article properly.

Take 2.

Paul seems to have been doing the actual scouting. The contract was with his wife's company. What we don't know is whether he was a director (or even an employee) of that company. If he was, I can't see that there's anything wrong with the arrangement.

Except, of course, the ridiculous amounts involved

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[Dalianwanda]

I ****ing hate hate hate The Rangers (and i know hate takes up a lot of energy).

[Fuzzywuzzy]

Are they dead (again) yet? Must be a massive pile under a carpet somewhere in Hampden.....

[Ozyhibby]

https://rangers.co.uk/news/headlines...cial-review-3/


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[Just Alf]

They're doing well, only a £0.9 million loss because they've received £17.7 million in soft loans??????????

I suppose there's a reason I'm not an account! :-)

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[Just Alf]

CWG please don't shoot me down right away... Be gentle... At least I don't come up with that 6% (A)nne Budge stuff you're always correcting lol

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[greenlex]

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https://rangers.co.uk/news/headlines...cial-review-3/


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Is unaudited trading results a usual measure of said performance or total bull for prospective investors?

[Billy Whizz]

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They're doing well, only a £0.9 million loss because they've received £17.7 million in soft loans??????????

I suppose there's a reason I'm not an account! :-)

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Some persons will be wanting it paid back though, wonder how they’ll do it.