A Sanity Clause for Xmas?

ByTrisidium

A Sanity Clause for Xmas?

A Guest blog by redlichtie for TSFM

From what I can see Mike Ashley is likely to be the only game in town for RIFC/TRFC fans unless they want to see another of their clubs go through administration/liquidation.

That particular scenario potentially allows for a phoenix to arise from the ashes but on past evidence it is probably going to be an underfunded operation with overly grandiose pretensions taking them right back into the vicious circle they seem condemned to repeat ad nauseam.

Ashley has the muscle to strongarm the various spivs to give up or greatly dilute their onerous contracts and I suspect that is what has been happening behind the scenes.

From Ashley’s point of view I believe that what is being sought is a stable, self-financing operation that he can then sell on whilst retaining income streams of importance to SD.

I also suspect that he will come to some arrangement with the SFA to dispose of his interest once he has stabilised the club.

The problem for RIFC/TRFC fans is that Ashley is not going to fund some mythical “return to where they belong”, though that is beginning to appear to be the second division of the SPFL where they are heading to have a regular gig.

Like at Newcastle, Ashley will cut their coat according to their cloth. This will mean, again like at Newcastle, a mid-table team with good runs every so often. If the finances can be fixed then they will have an advantage over most other Scottish clubs but in the main we will be back to actual footballing skills and good management being what is important (pace “honest mistakes”).

With recent results and footballing style clearly those are issues that will require attention and McCoist seems likely to present RIFC/TRFC with an early opportunity to address at least one aspect of that if he continues with his current “I’m a good guy” press campaign. It may take just one unguarded comment or action and he will be out.

But will the Bears go for Ashley’s plan? So far they seem antagonistic and still cling to their belief that the world owes them a top football club regardless of cost.

If the fans don’t get behind the current entity I can see Ashley deciding the game’s not worth it and cashing in his chips. Some ‘Rangers Men’ will probably turn up and create a new entity for The People to believe in and Ashley will continue to draw in income from shirt sales and, most likely, charging fans at the world famous Albion car park which he will then own.

The upcoming AGM is crucial and from what we have seen of Ashley so far he gets what he wants.

The crushing reality about to descend on The People is that there really is no Santa Claus. A Sanity Clause, perhaps but no Santa Claus.

About the author

Trisidium administrator

Trisidium is a Dunblane businessman with a keen interest in Scottish Football. He is a Celtic fan, although the demands of modern-day parenting have seen him less at games and more as a taxi service for his kids.

3,813 Comments so far

BawsmanPosted on2:25 pm - Jan 5, 2015


Brian McNally ‏@McNallyMirror
Fastest investigation in history as SPFL clears Rangers of NI default. So why did HMRC threaten winding-up order? Answer please Mr Doncaster

RhebelRhebel ‏@RhebelRhebel
Nice to hear that the @spfl have accepted @PinsentMasons outcome from their investigation into Sevco non payment of NI.

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easyJamboPosted on2:26 pm - Jan 5, 2015


Rangers have now increased the ticket allocation to Hearts for the game on 16th Jan from 950 to 2,000. Maybe they’ve decided that they need the money after all.

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JoethebookiePosted on2:26 pm - Jan 5, 2015


January 5, 2015 at 12:38 pm
 5 0 Rate This

Leave the bookmaking to the experts, you’d be bankrupt in days with under-round books like that 😉

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StevieBCPosted on2:29 pm - Jan 5, 2015


Haven’t caught up with posts yet, but just watched CNN International news over here and 2 interesting points ;

1) Scottish football got a rare mention, wrt the ‘possible’ takeover by an American of ‘Glasgow Rangers’.
&
2) The question of why would he would know of – or be interested in – a Scottish soccer club is because the ex-Rangers player David Robertson coached Sarver’s children.
[Could be rubbish of course but that is how it was reported here.]

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AllyjamboPosted on2:36 pm - Jan 5, 2015


It’ll be interesting to hear what the SPFL were told about TRFC’s threatened winding up order when, in the interests of transparency, the findings are published. I hope Livingston in particular pay attention to this super-fast decision, though the way they rolled over to the complaint about their program writer telling thE truth suggests they will turn a blind eye, ear and kitchen sink to it. As will everyone else in the boardrooms of the SPFL.

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jean7brodiePosted on2:39 pm - Jan 5, 2015


Radical Scotland @RadicalScotland · 15m 15 minutes ago

So having done an hour’s investigation SPFL announce that RIFC (Same club) have paid their NI. #DoncasterOut

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easyJamboPosted on2:42 pm - Jan 5, 2015


Good to see that Dundee Utd are ready to pay their bills on time.

Tyrone Smith ‏@TyroneSTV · 2m2 minutes ago
Stephen Thompson says Rangers will get the money they’re due for Charlie Telfer on time, after getting a reminder from the Ibrox club today

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stan freePosted on2:43 pm - Jan 5, 2015


Long time lurking non-poster. There is no doubt in my mind that the events of the last couple of weeks must be linked. It’s just that we haven’t been able to join up the dots properly yet to see what the whole picture looks like.
Doncaster’s interview, in which the statement on The Rangers looks like it was hurriedly levered in as the questioning was about to end, seems to clear the way for a liquidation in which the footballing personality of the corpse miraculously survives. Yes, there would have to be a 25 point penalty that would of course be applied by the authorities without fear or favour, but the “club” would remain in some form to fulfil its fixture list to the end of the season which also saves the SFA and SPFL a lot of trouble. That would fit in with the 3B+K takeover, allowing a quick liquidation and the ditching of the onerous contracts and presumably the continuing payments to the gardening one.
There also must be some link between Sarver and Ashley. The share price rebound has made it a lot harder for 3B+K to pick up anymore without dipping into those massive warchests they have to fund future Euro-glory. All I do know is that if I was one of the institutional investors who sold up last week, I’d be on the phone to my solicitors this morning.

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EeramacaroonbarPosted on2:43 pm - Jan 5, 2015


Given the SPFL have excused Sevco of any wrong doing regarding this non payment of NI, are we not being asked to believe that Sevco informed the SPFL of this some time ago ?

The SPFL have not revealed this till now which means they have sat on information which could have had a huge effect on their share price.

In the last week we have seen big chunks of shares change hands. Am I going somewhere with this ? or am I well off the mark ?

Concievably could the SPFL have huge questions to answer from 3 bears/King/Laxey and Artemis ?

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HamerdoonPosted on2:44 pm - Jan 5, 2015


Smugas says:

January 5, 2015 at 2:23 pm

—————————————————-

Me too Smugas, it just seemed all so pre-packaged with everything aligning – the Perfect Eclipse, so to speak.

Hell mend thaim.

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wottpiPosted on2:47 pm - Jan 5, 2015


Bawsman says:
January 5, 2015 at 2:19 pm

That was announced but note is says the Company was informed of the deal but there has not yet been a follow up TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES, which is the company confirming that what they have been told in the previous announcement has actually happened.

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ecobhoyPosted on2:50 pm - Jan 5, 2015


StevieBC says:
January 5, 2015 at 2:29 pm

Haven’t caught up with posts yet, but just watched CNN International news over here and 2 interesting points ;

1) Scottish football got a rare mention, wrt the ‘possible’ takeover by an American of ‘Glasgow Rangers’.
&
2) The question of why would he would know of – or be interested in – a Scottish soccer club is because the ex-Rangers player David Robertson coached Sarver’s children.
[Could be rubbish of course but that is how it was reported here.]
=———————————————————–
I think I noticed somewhere that Sarver has 3 Boys and I think it added they were into soccer.

So could be some truth in it – but there again 🙄

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ProhibbyPosted on2:55 pm - Jan 5, 2015


How long before this man Sarver realises he is trying to buy a basketcase, not a Basketball, club?

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wottpiPosted on2:55 pm - Jan 5, 2015


StevieBC says:
January 5, 2015 at 2:29 pm

David Roberston was wheeled out the other day for a T’Rangers story and it did mention he is coaching in the USA. His wiki page has him in Phoenix as Director of Boy’s Coaching at Sereno Soccer Club

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mcfcPosted on2:56 pm - Jan 5, 2015


Joethebookie says:
January 5, 2015 at 2:26 pm

Leave the bookmaking to the experts, you’d be bankrupt in days with under-round books like that 😉
=========================================================
You’re a hard man 🙂 What about pushing it up to 126.5% by adding:

12 / 1 Sarviour Scotland
14 / 1 Sarviour 5088
16 / 1 Pheonix Rangers
20 / 1 The Pheonix Rangers
25 / 1 Feck HMRC

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oddjobPosted on3:06 pm - Jan 5, 2015


MCFC

How about

Evens. Doncaster Rangers ?

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mcfcPosted on3:07 pm - Jan 5, 2015


stan free says:
January 5, 2015 at 2:43 pm
Yes, there would have to be a 25 point penalty that would of course be applied by the authorities without fear or favour, but the “club” would remain in some form to fulfil its fixture list to the end of the season which also saves the SFA and SPFL a lot of trouble.
======================================================================
Quite plausible, but, it would require an amenable Administrator to sell the assets, history prion-like entity etc to an unchallenged buyer at a knock down price – and look what being amenable got the last Administrators – the perp walk through the fans 🙂
If HMRC are a sizeable creditor, I hope they won’t fall for that one again and will insist on a neutral Administrator.

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mcfcPosted on3:12 pm - Jan 5, 2015


ViewfromGorgie @ViewfromGorgie · 49 mins 49 minutes ago

HMRC – Gers missed tax payments.
SPFL – Hey, Gers, is that true?
Gers – pffffft as IF!
SPFL – Ah, cool. Cheers.
#ScotsFootballInvedtigation

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Nell DoncasterPosted on3:14 pm - Jan 5, 2015


Are we talking weeks, days, or months.????

Flights for a cancelled game on February 2nd. are expensive!

Although, I suppose I could have a few beers with mates I haven’t seen in a while.

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nawlitePosted on3:16 pm - Jan 5, 2015


Over on the Bear’s Den, I see the problem of not being able to pay your taxes hasn’t even registered. Well, if you count one thread about the possibility of them getting a punishment from the big bad SPFL as ‘registering’ then maybe it has.

Bizarrely, there is absolutely no comment about what the non-payment means, what it might point toward, what the consequences might be etc.

Piddling (around) while Rome burns!

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John ClarkPosted on3:38 pm - Jan 5, 2015


neepheid says:
January 5, 2015 at 2:06 pm
‘..http://sport.stv.tv/football/clubs/rangers/305416-spfl-seek-answers-from-rangers-over-claims-of-late-payment-of-tax/

They can react quickly when the need is there!’
————
Is there any truth in their assertion, though, or are they lying through their teeth?

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John ClarkPosted on3:49 pm - Jan 5, 2015


On the RNS thingy at this link http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12203574.html what is the significance of form 8.5(EPT/Non-RI)? Has it already been explained, please?

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EKBhoyPosted on3:49 pm - Jan 5, 2015


It’s getting interesting down Ibrox way.

The cashflow looks positively ill, at present , with the Directors taking turns each to bale out the club with various loans. I suspect the ‘Dignity’ gene is kicking-in and that the RRM will be unable to countenance another Administration, 25 point deduction , and no promotion.

For the new shareholders, I would wager that they will badgering Mr. LLiambias for details on the Cashflow predictions; details on the various onerous contracts (including those of his erstwhile colleague, Mr Ashley); and contracts (including bonus provisions) for the various Directors and hangers-on.

You would not need much imagine for this to be presented to the SFA (with a ribbon on it) requesting an investigation that the clubs directors have failed to act in the best interest of the club; the league and their fellow clubs.

A fairly swift , Kangaroo court runs the various directors out of town (sin die from Scottish football, along the Craig Whyte lines) , with the club by then in Administration, the shell is sold to the Four Bears…..

If the existing Board does not play ball with the SFA then the club license will be switiched to another newly formed club, playing out of Hampden ……. by then all the onerous contracts will be plastered all over the tabloids , in an attempt to run the jokers out of town.

or simply, they run out of cash and there is a massive fight during Administration with the SFA, SPFL standing to one-side shaking their head …….

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EeramacaroonbarPosted on3:51 pm - Jan 5, 2015


Complete layman on these types of things. So feel free to shoot me down in flames.

What if ?

The SPFL were aware of Sevco’s non payment of NI some time before King and the 3 Bears bought shares.

What if the SPFL suppressed this info as by revealing it, the shares in Sevco nosedived to such an extent that shares were suspended. Thus preventing King et al from buying shares ?

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mcfcPosted on3:53 pm - Jan 5, 2015


Such Dignity

DUFC send the cheque for Telfer, as promised, but forget to sign it or put a stamp on it and the greatest football club in the history of history is down to Cash Converters – OMG.

Rangers send reminder to Dundee United over Charlie Telfer fee
http://sport.stv.tv/video/3971708814001/

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easyJamboPosted on3:54 pm - Jan 5, 2015


John Clark says: January 5, 2015 at 3:49 pm

On the RNS thingy at this link http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12203574.html what is the significance of form 8.5(EPT/Non-RI)? Has it already been explained, please?
===========================
I believe it’s just a necessary regulatory step for a prospective takeover bidder to set out their opening position.
i.e. do they own any shares already? In Sarver’s case he holds zero shares at the moment.

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roddybhoyPosted on3:55 pm - Jan 5, 2015


online petition for Neil Doncaster to step down………….incase you might want to sign 😛 its at http://www.change.org….sorry cant do the linky thing : 🙄

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coineanachantaighePosted on4:04 pm - Jan 5, 2015


McCaig`s Tower says:
January 4, 2015 at 2:27 pm
==============================
It’s the idea that one can be a “TV supporter” that gets me. I understand some guys can’t for various reasons get to see their own team regularly and/or have a more general football interest and will watch an English or Spanish etc. game if it’s on when they’re in the pub.

What does get me is guys who get wildly excited, furious, apoplectic even – as if they are generation bred fanatics for a particular club when that club doesn’t even play in the same country – and you just know that if the sugar daddy (e.g. Russian Oligarch) was to lose interest and the club become another mid-table side they would switch their allegiance to the next billionaire backed over-inflated club on the TV.

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the sage of g42Posted on4:05 pm - Jan 5, 2015


John Clark says: January 5, 2015 at 3:49 pm

On the RNS thingy at this link http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12203574.html what is the significance of form 8.5(EPT/Non-RI)? Has it already been explained, please?

*****************************

Following the “possible offer” announcement the Takeover Code Rules re Disclosure now come into play.

These are set out at page E24 onwards of the Takeover Code which is available at

http://www.thetakeoverpanel.org.uk/wp-content/uploads/2008/11/code.pdf

As far as I recall these are at lower thresholds and require reporting on a more timely basis than the disclosure required when not in an offer period.

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John ClarkPosted on4:11 pm - Jan 5, 2015


easyJambo says:
January 5, 2015 at 3:54 pm
the sage of g42 says:
January 5, 2015 at 4:05 pm
Thank you, gents. But no one has actually yet made an offer, it was just the Nomad telling folk who want to make an offer that they have to say what their present holdings are?

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bluPosted on4:14 pm - Jan 5, 2015


John Clark, Form 8.5 refers to the Opening Position Disclosure in respect of Robert Sarver:-

OFFEREE: Rangers International Football Club Plc
Offer period commenced: 07:00 05-Jan-2015
1p ordinary ISIN: GB00B90T9Z75 NSI: 81,478,201
OFFEROR: Mr Robert Sarver
Offeror identified: 07:00 05-Jan-2015
Rule 2.6 deadline: 17:00 02-Feb-2015
Disclosure of dealings and positions in this offeror is not required

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TincksPosted on4:21 pm - Jan 5, 2015


JC

We need the Essexbeancounter or other financial wiz to help us with this.

Form 8.5(EPT/Non-RI) seems to be used by the takeover panel and seems to have been submitted by the Nomad on the Rangers behalf.

List below from the Takeover Panel Website – seems to be saying there is an offer from Sarver. But I don’t know enough about these things – could be wrong

EBC or others – heeeeeeelp please

http://www.thetakeoverpanel.org.uk/disclosure/disclosure-table

Edit – beaten to it by posters who know more than me

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AllyjamboPosted on4:42 pm - Jan 5, 2015


Brian McNally
‏@McNallyMirror So someone at Rangers or working for them, lies to the media about an HMRC winding-up threat & it’s all the media’s fault. Delusional stuff.

______________________________

Does anyone have a clue what this tweet is about? Seems to suggest there’s less to the latest Rangers tax case than was first published. Or is it just as a result of the latest Hampden acceptance of a TRFC explanation and the bears are treating it in the same way they were overjoyed at the LNS result, where they were found guilty but got off with minimal penalties?

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the sage of g42Posted on4:55 pm - Jan 5, 2015


John Clark says:
January 5, 2015 at 4:11 pm

easyJambo says:
January 5, 2015 at 3:54 pm
the sage of g42 says:
January 5, 2015 at 4:05 pm
Thank you, gents. But no one has actually yet made an offer,
******************************************

An offer may not have been made, but we are now in an “offer period” under the Takeover Code as an announcement of a possible offer has been made.

See the definition of “offer period” at pages C14 and C15 of the Takeover Code.

In particular the paragraphs at the top of page C15. Which also defines when the “offer period” will end

“An offer period will commence when the first announcement is made of an offer or possible offer for a company, or when certain other announcements are made, such as an announcement that a purchaser is being sought for an interest in shares carrying 30% or more of the voting rights of the company or that the board of the company is seeking potential offerors.
Subject to Note 3, an offer period will end when an announcement is made that an offer has become or has been declared unconditional as to acceptances, that a scheme of arrangement has become effective, that all announced offers have been withdrawn or have lapsed or following certain other announcements having been made (such as all publicly identified potential offerors having made a statement to which Rule 2.8 applies).”

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mcfcPosted on5:14 pm - Jan 5, 2015


roddybhoy says:
January 5, 2015 at 3:55 pm

online petition for Neil Doncaster to step down………….incase you might want to sign 😛 its at http://www.change.org….sorry cant do the linky thing : 🙄
==================================================================

601 signed up so far https://www.change.org/p/neil-doncaster-spfl-step-down-from-his-job

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upthehoopsPosted on5:21 pm - Jan 5, 2015


A poster on Celtic Quicknews has received a reply from Neil Doncaster re his same club statement. See link below.

http://www.celticquicknews.co.uk/?p=16647&cpage=7#comment-2435483

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Cosmic TruthPosted on5:27 pm - Jan 5, 2015


I think some of The Rangers 2012 supporters on twitter are claiming the story was made up by Jack Irvine to make Sandy Easdale look good

Some newnoses have been slagging off Brian McNally. They just don’t seem to get that it’s the person who lied to the media who’s in the wrong, not the media who report it.

Accepting responsibility for things doesn’t seem to be in the make up of your average bluenose.

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cluckyPosted on5:29 pm - Jan 5, 2015


I think that the tax and N/I would be for November, the monthly payment is usually due on the 22nd of the following month (December). HMRC are quicker at chasing up any non payment now, and have more than likely sent a letter demanding payment within 7 days as claimed. If this is the case they are not in breach of the league rules as they are not 28 days late.

But it’s worth remembering that Decembers payment is due in 17 days time. Tick tick. 😛

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Danish PastryPosted on5:39 pm - Jan 5, 2015


Cosmic Truth says:
January 5, 2015 at 5:27 pm
1 0 Rate This

I think some of The Rangers 2012 supporters on twitter are claiming the story was made up by Jack Irvine to make Sandy Easdale look good

Some newnoses have been slagging off Brian McNally. They just don’t seem to get that it’s the person who lied to the media who’s in the wrong, not the media who report it.

Accepting responsibility for things doesn’t seem to be in the make up of your average bluenose.
———–

@Cosmic, long time poster @Barcabhoy is pretty adamant that the winding-up order story is true and that proceedings would have started on 6 January (if I read his twitter right). Tax due on 22 Dec. apparently.

Some people on SoS will have to eat humble pie about Easdale if Barca’s info correct.

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Cosmic TruthPosted on5:48 pm - Jan 5, 2015


If Barcabhoy says it, that’s good enough for me.

A lot of The Rangers 2012 supporters seem to me, just to be deniers. it doesn’t matter what it is, they claim it didn’t happen.

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easyJamboPosted on5:55 pm - Jan 5, 2015


Ashley strengthening his position?

Leach appointed Finance Director

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RFC&ArticleCode=dc8lg86b&ArticleHeadline=Directorate_Change

Directorate Change
Mon, 5th Jan 2015 17:47
RNS Number : 3339B
Rangers Int. Football Club PLC
05 January 2015

?
05 January 2015
Rangers International Football Club plc
(“Rangers”, “RIFC” or the “Company”)

Directorate Change

The Board of Rangers is pleased to announce that Barry Leach has been appointed as Finance Director of RIFC with immediate effect. Mr Leach has been acting as a consultant to the Company since 27 October 2014.

Barry John Leach (aged 48) is, or has been, a director of the following companies in the previous five years:

There follows a list of all the companies he has been involved with

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ecobhoyPosted on5:59 pm - Jan 5, 2015


Barcabhoy @Barcabhoy1 · 2m 2 minutes ago

Facts Easdale lent £500k today. Loan to be repaid in a few days time. No wages due for 3 weeks. HMRC only critical payment due.
———————————————————-
There will, of course, be a helluva lot of smaller suppliers of goods and services not owed critical payments who will be very nervy over outstanding bills.

Obviously it’s very difficult to predict what these individual suppliers will do but a natural reaction at the very least would be to reduce their exposure and there are various ways to achieve that.

Rangers might not be terribly happy but I doubt if they could ditch a supplier as any replacement would be looking for a period of cash up-front unless they were mad.

As I say these might not be critical amounts but it just adds to the general financial stress at Ibrox and, as we know, battles can be lost through losing a simple horseshoe.

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easyJamboPosted on6:03 pm - Jan 5, 2015


Leach’s appointment has echoes of Liam Byrne’s handover to David Laws as Chief Secretary to the Treasury:

“Dear Chief Secretary, I’m afraid that there is no money. Kind regards and good luck.”

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ecobhoyPosted on6:07 pm - Jan 5, 2015


easyJambo says:
January 5, 2015 at 5:55 pm

Ashley strengthening his position? Leach appointed Finance Director
———————————————————————
Looks as though it’s going to develop into a bloody toe-to-toe bare-knuckle contest.

It will be interesting to see who has the most financial muscle and heart to win the prize. Is it really going to be worth the effort?

Jeesuz Patey has appeared on STV News and he’s actually sounding pessimistic – that’s a first.

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wottpiPosted on6:13 pm - Jan 5, 2015


easyJambo says:
January 5, 2015 at 5:55 pm

Interesting to note that Leach appears to have resigned from all SD related companies days before taking up the Ibrox consultancy. Thus no direct connection to Mike Ashley.
Surely a big move if you were not in it for the long haul!!

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mcfcPosted on6:16 pm - Jan 5, 2015


What Costs More:

a) on a monthly basis

b) to pay off

“Finance Director of RIFC” or “acting as a consultant to the Company” ?

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tykebhoyPosted on6:17 pm - Jan 5, 2015


@wottpi or maybe he knew he was very shortly going to be disqualified from being a director 😉

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ChristyboyPosted on6:23 pm - Jan 5, 2015


So, if the tax has been due for a while then that must mean all board members have been aware and party to the withholding of taxes. Again!! Are NED’s not meant to be in charge of keeping an eye on things like this, all part of …mmmm…..what do you call it ……..Yeh governance, that’s it !! Yip, good ole Sevco. We Pay, While You Play ! Neil and Stuart, fill in the end of this quotation….Fool me once, shame on you……….

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tykebhoyPosted on6:23 pm - Jan 5, 2015


@MCFC
a) usually the consultant unless he/she is only doing a couple of days a month
b) the FD. You just stop using the consultant but have to payoff whatever’s in the employment contract. If previous Sevco exec contracts are anything to go by it will be at least 12 months @ 100%+ of final salary.

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ecobhoyPosted on6:25 pm - Jan 5, 2015


wottpi says:
January 5, 2015 at 6:13 pm

Interesting to note that Leach appears to have resigned from all SD related companies days before taking up the Ibrox consultancy. Thus no direct connection to Mike Ashley.
Surely a big move if you were not in it for the long haul!!
============================================================
Not necessarily! Could all be smoke and mirrors.

No matter what happens I’m pretty sure Leach will always have a billet at SportsDirect.

In my experience nothing is never quite what it looks down Ibrox Way.

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The Cat NR1Posted on6:25 pm - Jan 5, 2015


Jeesuz Patey has appeared on STV News and he’s actually sounding pessimistic – that’s a first
===========================
So good news for the Bears then on past performance. :irony:

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andygraham.66Posted on6:29 pm - Jan 5, 2015


STV Grant talking insolvencies unless something happens quickly.

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AllyjamboPosted on6:30 pm - Jan 5, 2015


Easyjambo

So it looks as though Ashley is up for the battle! Jackets off, and not to form goalposts 😉

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mcfcPosted on6:31 pm - Jan 5, 2015


ecobhoy says:
January 5, 2015 at 5:59 pm

There will, of course, be a helluva lot of smaller suppliers of goods and services not owed critical payments who will be very nervy over outstanding bills.
===================================================================
Eco – I can’t find any sympathy for them – the writing has been on the wall so large and for so long it has faded in the Govan sun. I assume most must be doing business with RIFC/TRFC out of their owners’ Rangersness, so probably won’t change.

However, I wonder how public bodies (eg Police Scotland), charities (eg St John’s Ambulance) and publicly listed companies will explain their failuire to mitigate their continued exposise to this obvious basketcase.

An FOI request to Police Scotland might be interesting.

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neepheidPosted on6:31 pm - Jan 5, 2015


Precisely as forecast by Sons of Struth last week- Ashley will go for boardroom control, and control events from the Blue Room.

http://t.co/1jXJSnNjRh

I am starting to believe that Houston has access to some good inside information. I wonder who his source is?

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GoosyGoosyPosted on6:31 pm - Jan 5, 2015


IMO

The idea that some self made Spiv from Phoenix is prepared to buy a debt ridden pig in the poke 300mls away beggars belief
It’s just nonsense
I wouldn’t be a bit surprised if Alistair Johnston came out in support of the 4Bs and urged them not to be put off.
So why is this happening?
There are only two possible reasons for the intervention of Mr Sarver
Either
He is a surrogate for MA and his costs are being repaid through some devious route.
If so
Sarver will spend OPM (Ashley’s) to gain control. In due course, perhaps immediately Ashley will instruct him to liquidate and dump the 4Bs, the Fan Shareholders and the Onerous Spivs. They will then outbid everyone for the assets and reinstate the onerous contracts in their favour
Or
Sarver is indeed a big Squirrel
He has got involved as a pal of MA in order to have some fun and make a few bob for promising to go away He will withdraw before he has to make a legal offer
i.e.
MA has brought this guy in to frighten the 4B team by upping the cost all round I expect them to respond by requesting proxy votes from the Bear shareholders, rejecting any peace talks and promising to block any resolution to dis apply pre-emption rights
Where will this all end?
In a word ……..Liquidation
Both Ashley and the 4Bs need liquidation with their pet Liquidator in charge to take out the Onerous Spivs The difference is in timing and that hangs on who is the biggest Creditor
If the 4Bs can get their voting rights up to 45% with the help of Fan Proxy votes they could demand the right to appoint at least 3 Directors. They could then force an MVL of RIFC by rejecting any further loans from Ashley .They would ensure they were the only bidder buy the assets who had credibility with the SFA
Ashley has a small window to advance a massive loan and become the biggest Creditor with the right to appoint the Liquidator
However it would be difficult to justify an MVL if there was cash in the bank to see out the season so Ashley may opt this time round for Administration to clear out high earning playing staff and stiff the rest of the Creditors no doubt he could fiddle the RR books to ensure his cash was siphoned off just before any Admin event

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AllyjamboPosted on6:33 pm - Jan 5, 2015


I expect Leach has a side letter to get his old jobs back once the Ibrox gig is over!

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wottpiPosted on6:37 pm - Jan 5, 2015


ecobhoy says:
January 5, 2015 at 6:25 pm

I kind of guessed that Leech will be OK in the long run after the job as Ashley’s agent is over.

Still an interesting move however. If Ashley wasn’t bothered about the connection mucking up his plans then why have the man step down?

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mcfcPosted on6:51 pm - Jan 5, 2015


This could end up like Storage Hunters where over excited numpties out bid each other to rediculous prices just to spite the other bidders, to buy a car under a tarp – without knowing what’s under the hood – or even if it has a hood – or glass or seats or doors.

Brilliant – now that’s my kinda TV

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The Cat NR1Posted on6:51 pm - Jan 5, 2015


Having read Doncaster’s response posted on CQN, I’m speechless.
Fortunately, I can still type.

On today’s evidence, if he had stayed at NCFC we would not have had a club left today in NR1 that would have been able to put it’s “manager” on gardening leave (sounds strangely familiar eh?).

The prospect of administration and insolvency was purely a step in his eyes to achieve some form of eternal higher status for NCFC when compared with other ordinary football clubs (Ltd Cos & PLCs to us mere mortals).

Thanks be to the gods of football that we got rid of him in time to stop his cunning plan. 👿

I still can’t believe he got the SPL gig to start with and I was totally astounded of forehead when he pipped Longmuir to the SPFL sinecure.

Perhaps he may have a chance at another club (possibly in Scotland) to fulfil his clubicidal urges?

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mcfcPosted on7:06 pm - Jan 5, 2015


Not a bad summary of a few bad days by Ewen Murray:

“Sandy Easdale’s Rangers loan highlights how dire cash flow situation is ”

http://www.theguardian.com/football/2015/jan/05/sandy-easdale-rangers-loan-cash-flow

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ecobhoyPosted on7:30 pm - Jan 5, 2015


wottpi says:
January 5, 2015 at 6:37 pm
ecobhoy says:
January 5, 2015 at 6:25 pm

I kind of guessed that Leech will be OK in the long run after the job as Ashley’s agent is over.

Still an interesting move however. If Ashley wasn’t bothered about the connection mucking up his plans then why have the man step down?
================================================================
The severing of the connection is merely a ‘techicality’ which has been observed to reduce the ammunition available to the SFA.

I also wouldn’t be in the least surprised if AIM had put pressure on the have a FD appointed in view of the obvious perilous financial position at Ibrox.

And if you’ve got to have an FD who better than someone you have no connection to? Perhaps someone whose work you know well and can trust that they will deliver what is required by the company in these difficult times 🙄

What was the name of the company btw 😆

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John ClarkPosted on7:33 pm - Jan 5, 2015


GoosyGoosy says:
January 5, 2015 at 6:31 pm
‘..There are only two possible reasons for the intervention of Mr Sarver..’
———–
What is their connection? Two mega billionaireseach with some kind of sports connection that in neither case is the main source of their wealth, and operating on opposite sides of the Atlantic?
The suggestion that it was a former RFC player who suggested to Sarver that he might want to get involved with a struggling, second rate sports club in Scotland doesn’t carry conviction.
But what IS the connection: are they bosom buddies or commercial rivals?
Can we find out?

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essexbeancounterPosted on7:35 pm - Jan 5, 2015


Tincks says:
January 5, 2015 at 4:21 pm
7 0 Rate This

EBC or others – heeeeeeelp please

http://www.thetakeoverpanel.org.uk/disclosure/disclosure-table

Edit – beaten to it by posters who know more than me
===============================================================
…and me… 😳

But thanks for the warm and flattering words Tincks…needed today, first day of “tax silly season” for us beancounters!

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CastofthousandsPosted on7:41 pm - Jan 5, 2015


Smugas says:
January 5, 2015 at 12:55 pm

“Who the hell was Ellis again? I need a PA just to keep up!”
——————————–
Andrew Ellis was involved in a proposed purchase of Rangers back in June 2010.

http://www.dailymail.co.uk/sport/football/article-1285455/Andrew-Ellis-brink-33m-Rangers-buyout-Project-Charlotte-enters-end-game.html

He was also mentioned in tandem with a certain Chris Akers by Charlotte on her first post on TSFM.

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ecobhoyPosted on7:52 pm - Jan 5, 2015


neepheid says:
January 5, 2015 at 6:31 pm

Precisely as forecast by Sons of Struth last week- Ashley will go for boardroom control, and control events from the Blue Room.

http://t.co/1jXJSnNjRh

I am starting to believe that Houston has access to some good inside information. I wonder who his source is?
======================================================
Houston has climbed from being a rabble-rouser into an ‘operator’ who is being groomed IMO by RRM who see him a a possible figurehead to unite their fan base.

Most of the old recognised Bear Leaders have simply bent in the wind too many times and have no or very little cred left except within their own small groups.

I reckon Houston is seen as the guy who has put himself on the firing line and if the 3B, King et alia (still to surface) gain either outright control or a significant shareholding then Houston will be invaluable to them.

Even more so if this develops into a longer term battle irrespective of whether there is a quick CVA or not. If the RRM admit defeat and walk then Rangers will die as a club in the hearts of the Bears of that I have no doubt.

The RRM know that as well and that’s why they have to win this fight despite being pitched in a bit prematurely with the appearance of Sarver.

But, no matter, the fight had to come and Houston is seen as the ideal leader to mobilise fans. His sharp edges will be polished smooth 😆

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yourhavingalaughPosted on8:05 pm - Jan 5, 2015


The wagons have been circled, but hold on, everyone is on the outer firing in,surely this is dangerous and the wrong peeple might get caught in the cross fire, or is this normal.

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CastofthousandsPosted on8:21 pm - Jan 5, 2015


upthehoops says:
January 5, 2015 at 5:21 pm

“A poster on Celtic Quicknews has received a reply from Neil Doncaster re his same club statement.”
———————————-
An extract From Doncaster’s response appears below.

There is no suggestion that the Club is a legal entity or has a legal personality which is different from whatever is the legal entity or person which is the owner and operator of the Club.

Obviously we’ve covered this ground endlessly but I’m now perhaps beginning to understand an interpretation of these words that makes sense to me.

The club has no legal personality because the club IS the company.

By that interpretation a catastrophic insolvency event will affect the company in tandem with its entrained club. If the club has no legal personality then it is analogous to the accounts department or the personal department of said company. These are integral to the company and are part of the company and for all intents and purposes, are the company. In the same way that my arms and legs are my body (although my body is not just my arms and legs).

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scapaflowPosted on8:32 pm - Jan 5, 2015


yourhavingalaugh says:
January 5, 2015 at 8:05 pm

It ain’t half funny Mum!

:mrgreen:

https://www.youtube.com/watch?v=QIoiEB3ynHQ

Interesting piece from Douglas Fraser, allegedly, a shareholder has reported Lofty and the lads to the takeover panel. Get them shoulders back, lovely boy!

http://www.bbc.co.uk/news/uk-scotland-30682240

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AwaynRaffleYerBunnetPosted on9:05 pm - Jan 5, 2015


Frequent lurker…sometime post…apologies for not getting more involved but thoroughly engrossed with all of this. …anyhoo…
For what it’s worth…my VAT quarter ended November…Beans were counted in Dec and money will be collected by Hector from my acc between 10-12 January. ..kinda rings true for a certain team who play out of a stadium near Govan?

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TartanwulverPosted on9:09 pm - Jan 5, 2015


Re. Scapaflow at 8.32pm

Decent article there from Douglas Fraser, giving good context and adding a new bit of information.

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neepheidPosted on9:46 pm - Jan 5, 2015


http://www.dailyrecord.co.uk/opinion/sport/record-fc-rangers-its-time-4922882

Some good sense from at least part of the Ibrox support.

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upthehoopsPosted on10:02 pm - Jan 5, 2015


Just finished watching Killie v Celtic.

I see that Sarver is to release a stock exchange announcement in the morning. Is this just going to mean another tiresome round of sensationalist PR nonsense?

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scapaflowPosted on10:03 pm - Jan 5, 2015


Tartanwulver says:
January 5, 2015 at 9:09 pm

Lofty and the boys have posted a reply to Private Fraser, in which the man with the crown says “I will not have gossiping in this jungle”

https://www.youtube.com/watch?v=10dmK7O-KSY

:mrgreen:

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oddjobPosted on10:31 pm - Jan 5, 2015


I may be miles off beam here, but since the advent of Mr Sarver, and the speculation as to whether he is “in league” with Mr Ashley, I have been wondering. Wondering about a certain “interview”, by wee Chic. Anybody remember? The guy being interviewed, Mr Souness, said he and his friend were interested in investing in TRFC. His friend spent a lot of time, on business , in the USA.

Is it possible that the Phoenix connection is Mr Kennedy, and not Mr Ashley ?

As I said at the start….

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