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.
THE SCOTSMAN
Ashley, who provided £3 million in loans towards the end of 2014, is believed to be ready to step back from being the bank of last resort for the club following the Scottish Football Association blocking his bid to increase his 8.92 per cent shareholding to 29 per cent.
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Er
Have the Scotsman managed to get an interview with Ashley ?
Or maybe LLambias?
Or even the NUFC man Ashley employs to provide the media with a steady stream of news ?
,,,,,,
Or is this just made up?
ThomTheThim says:
January 11, 2015 at 12:47 pm
When I expressed my disappointment to Hills, he replied that it was basically down do cost, there they took most of their stories nowadays off the “wires”; I.e. Media House, etc.
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And that in a nutshell is why the print media is at death’s door and beyond resucitation.
Always worth remembering that wire services have various grades of service and some are very restricted and private 😉
ecobhoy says:
January 11, 2015 at 12:43 pm
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torrejohnbhoy(@johnbhoy1958) says:
January 11, 2015 at 12:20 pm
Morning all.
Here’s a wee tweet from a few minutes ago.Maybe just conjecture but it adds to the debate.
@Sgt_trousers: That £6.5m debt explained back in Celtic Quick News in 2012. If you don’t sell Murray Park you owe us…
http://t.co/nSWnW6VASL
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I remember that – wasn’t there an actual unsigned document kicking about as well?
It didn’t seem to gain a lot of traction back then but perhaps its time has come.
If it has the game truly is a bogey but it would explain so many of the mysteries and complete the jigsaw
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I’ve read this a couple of times now and if I’ve got it right 😯 then the reason Ibrox cannot be used as collateral is that it’s already been sold,and to Ashley!.
While most of us have assumed that Ibrox couldn’t be used to raise cash because of Worthington/Whytes claim,it could be because TRFC have already sold it.
IIRC the IPO wording wrt Ibrox was not that TRFC owned the stadium but was along the lines of :
TRFC enjoy the use of the world famous Ibrox stadium(someone on here will have the extract).
So has Ashley been collecting nearly £3m pay for the past 2 years?.
The stadium purchase price will now have risen to circa £12.5m so if I’ve got it right then SD advanced TRFC just under £5m but have already received around £5.7m in rental/interest and own a stadium with a sell back clause standing at £12.5m and rising by 12.5%pa.
There’s also something in there wrt a 3 year timescale and we’re now into the 3rd year so something may have been triggered.
I’ve almost certainly read it wrong but that ‘a what it looks like to me. 😕
Bryce Curdy says:
January 11, 2015 at 12:15 pm
I don’t understand this rather gushing praise of Richard Wilson either. He’s obviously far from the worst, but equally he wouldn’t make my top ten of what is undeniably a truly awful bunch. He is anything but some sort of exception.
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I with ecobhoy on this, I can’t think of anyone who’s been gushing. Rather, IMO, he had one fairly decent attempt on Saturday, when he’s been a mouthpiece the rest of the time.
But I simply don’t trust any of them – BTW – Richard Gordon is excellent as a broadcaster, but why hasn’t he called them out, he sort of sounds as if he knows what’s happening. And all praise to Cosgrove, I think he’s fantastic, but why not invite Wilson and McLaughlin in and really stick it to them? Would the BBC allow it?
Torrejohnbhoy. @ 1.26 pm
Don’t know if it was part of the document, or added by the poster, but the reference to it not being signed before the share issue must have some significance !!
@Bryce Curdy.”Chris Graham and other Rangers and Sevco fans complaining about the cost to the tax payer of ‘The Big Tax Case’ enquiry clearly have absolutely no concept of irony.”
I wonder if Chris will complain about the cost to the tax payer of the spurious complaint to the EC about alleged dodgy land deals by Celtic?
A complaint which I believe was dismissed by the EC.
Torrejohnbhoy(@johnbhoy1958) says:
January 11, 2015 at 1:26 pm
ecobhoy says:
January 11, 2015 at 12:43 pm
I’ve read this a couple of times now and if I’ve got it right 😯 then the reason Ibrox cannot be used as collateral is that it’s already been sold,and to Ashley!.
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I don’t think the document actually states it was sold to Ashley and I think the reference to Sports Direct FC is just a gybe at Rangers much the same as using ‘Sevco’.
And if I remember the document that goes with this didn’t have any name of the purchaser on it. I’ll need to try and remember where that discussion was.
Of course it doesn’t mean it wasn’t sold to Ashley and the comspiracy theorist in me that I try to keep well locked away could dream-up all sorts of meanings in Ashley’s recent moves.
And possibly Mr Sarver’s role is not what it originally purported to be even though that was, in itself, beyond bizarre.
But you’re right the 3 year initial period sounds critical and could explain the flurry of activity over a need to raise cash quickly.
easyJambo says:
January 11, 2015 at 10:13 am
Martin Williams
Senior News Reporter
Sunday 11 January 2015
If a fresh HMRC appeal succeeds, it will have no bearing on today’s Rangers but fans have called for a Government inquiry into HMRC’s handling of the case.
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But they never got enough signatures for the E-Petition. There Mr Williams, fixed that for you 😉
oddjob says:
January 11, 2015 at 1:37 pm
Torrejohnbhoy. @ 1.26 pm
Don’t know if it was part of the document, or added by the poster, but the reference to it not being signed before the share issue must have some significance !!
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The main asset of RIFC Plc according to the AIM Flotation Prospectus was Ibrox and if a sale and leaseback was signed before the flotation date then the share issue would be illegal as the shareholders would be investing on a false prospectus.
What is very interesting – if there is any truth in the theory – is how this pre-plan would be regarded in legal terms.
I find it hard to believe that it shouldn’t have been disclosed. And if it was who in their right mind would have invested in the company?
I don’t even think the most fanatical Rangers’ fan would have parted with his £500.
According to the Sunday Post, MR Douglas Park is building a new £5m mansion “near” Ibrox. The reporter the goes on to say, it will be “close” to Glasgow. Next paragraph, it is in Strathaven, about 20 miles from Glasgow.
Just a good stretch of the legs!!
OK eco’ we get it, you like Richard Wilson, jeez…
🙄
if one were an accomplished spiv it would be quite easy to structure such a sale and leaseback to circumvent the need to mention it at the IPO. It could be theoretically under discussion at the time of the IPO but what might be regarded at the tentative stage so did not ned declaration. However the date of entry under the lease might be earlier than the date of ‘ conclusion of previously tentative negotiations’. There are also spiv friendly possibilities to avoid registration of the lease.
a lease might not be for the stadium but the land on which it is built with an option to convert that to a lease of the entire property with rent for the previous three years to be paid. so £1 per year for the land followed by £6.5 million if the landlord takes up his conversion rights.
Enough speculation. My dual surveying/theology qualifications are both curse and blessing
Ecobhoy says
January 11 2015. @ 1,25 pm
We don’t know if the document is genuine, but if it is, and you could perhaps refresh my memory here, I seem to recall a charge which included the phrase ” taking steps” .I’m not sure in which context, but it is in my head..perhaps in a conspiracy case long ago.
It is sad to read Jim Delahunt on Twitter referring to some of the abuse and threats he has received simply because he read out a Tweet to Radio Clyde yesterday live on air, which contained the word ‘Sevco’. What a horrible world we live in at times.
Joeninho says:
January 11, 2015 at 12:46 pm
‘I haven’t trusted the BBC since I found them to be lying during the miner’s strike.
Whether it’s sport or politics I always assume I’m being fed the British establishment line.’
__________
And of course the BBC will always defer to the Royals: it recently pulled a documentary on ‘Prince@ Charles’ when his lawyers got at them.
Oh, they’re a brave bunch to be sure:not likely ever to say ‘Je suis Charlie’ when threatened by the Royals for what they MIGHT say about the elderly heir to the throne.
Vive la Republique I cry!
http://www.independent.co.uk/news/media/bbc-pulls-film-on-royal-spin-after-legal-complaints-9949040.html
Could this be significant in terms of Monday?
SPFL League Cup Semi Final
Celtic v Rangers
The National Stadium, Hampden Park
A priority sale will commence at 9am on Tuesday 13 January for season ticket holders who have purchased a full price season ticket. The sale will be strictly 1 ticket per season ticket and a maximum of 2 per transaction.
http://www.rangers.co.uk/tickets/ticket-information
Don’t know where the ‘Prince@Charles’ came from! Sorry.
upthehoops says:
January 11, 2015 at 2:22 pm
Are we surprised ! It’s like drawing a cartoon of you know who.
I noted the other day it would have been Elvis’s birthday and the following words to the Song “You’re The Devil in Disguise” came to my mind, don’t know why that song. I started singing to myself ” You look like the Rangers, play like the Rangers, talk as if you’re Rangers, but we’re all wise coz you’re just Sevco in Disguise, oh yes you are just Sevco is disguise”
Awe the TD’s are coming I can sense it 🙂
causaludendi says:
January 11, 2015 at 2:08 pm
OK eco’ we get it, you like Richard Wilson, jeez…
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Never met the guy and have never spoke to him so I have no idea whether I would like him or not.
The only judgement I make on him is wrt to what I have seen him write. On that basis I reckon he is one of the better sports hacks about but that’s only my opinion.
He’s not a gifted writer but workmanlike with a fairly direct and concise style not padded with overblown hyperbole like most of his sports colleagues.
Others have their own opinions possibly based on different factors than mine but hey that’s their choice. It certainly doesn’t bother me as I’m not here to defend Wilson and don’t feel the need to as I reckon he could manage that himself.
I simply try to understand the ire expressed towards him as I can’t actually see any justification in what he writes and so far haven’t been pointed towards anything specific that would change my view.
In regard to the possibility that Ashley may have been the purchaser of Ibrox, why wouldn’t that change of ownership show in the land registry documentation? I assume that it doesn’t, or else we would all have heard about it by now, no matter how slow the Land registry ( or whichever body it may be that attends to that kind of thing) might be!
Is there a way that land and building sales can be kept entirely secret?
@ModgePKR says:
January 11, 2015 at 1:08 pm
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Perhaps OT, but has anyone written to their club or their club’s NOMAD asking questions around the stealh implementation of a franchise system in Scottish football?
If so, has anyone heard back?
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Modge, I emailed DAFC last Monday, as they are my local team and may have unnecessarily avoided liquidation if Doncaster is to be believed. I haven’t yet had a reply.
I also emailed the SPFL as if I agreed with Doncaster’s view and asked them to explain then by what mechanism a continuing ‘Rangers’ were a) placed in Div3 and b) excluded from the following season’s CL qualifiers. To date (unsurprisingly) again no response.
I’m sure “ignore Doncaster’s lies” could be added in there 🙂
Interesting article involving Ricardo Pini who is part of the consortium in talks with St. Mirren.
http://translate.google.co.uk/translate?hl=en&sl=es&u=http://ciperchile.cl/2013/08/05/la-conexion-chilena-en-el-millonario-negocio-de-la-%25E2%2580%259Ctriangulacion%25E2%2580%259D-de-futbolistas/&prev=search
Totally OT
Rome derby..Totti scores his second and equalising goal for Roma against Lazio
…someone hands him a mobile phone and he takes a ‘selfie’ ..
PMSL
re a comment earlier today
when a news or sports editor says s/he gets stories from ‘the wires’ they mean news agencies like AP or Reuters, they do not mean PR agencies like Media House – these play a different role
and for everyone who says ‘Scottish journalists* are rubbish’, they should have a go at, ooh, let’s say…
• finding mike ashley
• posing a question to him
• getting a meaningful response.
Should you fail, you’re as bad as the whatever-the-acronym-for-disliked-journos-is at the moment of course 🙂
* I mean actual full time journos here, not commentators who are ex-players, weekly columnists who can barely spell or Chick Young
mayanman says:
January 11, 2015 at 3:25 pm
Interesting article involving Ricardo Pini who is part of the consortium in talks with St. Mirren.
http://translate.google.co.uk/translate?hl=en&sl=es&u=http://ciperchile.cl/2013/08/05/la-conexion-chilena-en-el-millonario-negocio-de-la-%25E2%2580%259Ctriangulacion%25E2%2580%259D-de-futbolistas/&prev=search
………………………………………………
Aye. I read that earlier…
Not a great translation but the repetition of phrases such as “avoiding taxes”, “false registration” and multiple clubs did not fill me with admiration for the practices of the people seeking to buy into Scottish fitba.
ETA:Nonehteless – admiration for what reads as genuine investigative journalism!
gunnerb says:
January 11, 2015 at 3:31 pm
I was watching it, a cracker eh!
Been a long time since I last posted.
To be honest I have lost a lot of the interest I had in the story of corruption in the Scottish media as revealed in its handling of the downfall of Rangers and the disgraceful bias of the Scottish football authorities.
Not because I don’t think it is relevant and interesting.
Not because I no longer hope to see the people that corrupted our sport brought to task and made to face the consequences.
I still want to see our sport liberated from the dead hand of the SFA blazers and the gangs of criminals and spivs that continue to feast on the Ibrox carcass.
No. My problem is that the last few years have opened my eyes to the corruption in our media on so many fronts (politics, society, religion, health – you name it) that it is hard to continue to focus on the problems in Scottish football.
TSFM has played no small part in developing the realisation that we are being lied to and deliberately misled by our media on a daily basis.
Sure, a few years back, we all had some sort of idea that this was true to some extent. But the true extent of it has now come devastatingly into focus.
Does anybody on here read a newspaper or listen to the news without finding themselves instantly dismissing a massive amount of what you are being told as spin and propaganda?
The complete disregard for the media is only matched by the disgust that is felt for those that feed them the lies and misdirections. Whether it is politicians, businesses, or mealy mouthed sports administrators – is this really the way we want society to be run?
Transparency. Accountability. Social responsibility.
How many of these attributes do we find in any of our institutions or civic leaders?
TSFM continues to provide the best analysis of what is going wrong in Scottish football. Its impact extends, for me and I’m sure for many others, way beyond the narrow confines of its subject matter.
For me, the renewal of Scottish football looks increasingly unlikely without a renewal of Scottish society, as what we see happening in Scottish football largely reflects the society it is formed by.
We demand better. Our clubs must be pushed to reflect OUR social norms, not those of business and politics, which IMO have become totally divorced from the common decency of ordinary folk.
John Clark says:
January 11, 2015 at 3:14 pm
Is there a way that land and building sales can be kept entirely secret?
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Don’t register them – afaik there is no legal requirement to register them with the Land Registry. That can have drawbacks but probably only for normal companies.
Leases also don’t require to be registered.
I am shocked by that article suggesting that Senor Pini, the hombre linked to a potential takeover of St Mirren, controls a club in Chile called Rangers that is accused of complicity in a tax-evasion scheme.
Who’d have thunk it?
As for the speculation about the “incognito leverage” mentioned by Phil, we’re all pretty much in the dark about that one but it’s hard to believe that any demand for a sum could cause an instant financial crisis . . .
Unless the board of RIFC is petrified that the mere act of publicising what this demand is for would cause untold damage.
If it concerned the ownership of the stadium, the upshot would be outrage among supporters, possible suspension of shares and even the threat of a police inquiry.
This is all speculation, of course. Just a bit of fun.
I’m happy to wait and see what tomorrow brings.
rabtdog says:
January 11, 2015 at 3:32 pm
re a comment earlier today
when a news or sports editor says s/he gets stories from ‘the wires’ they mean news agencies like AP or Reuters, they do not mean PR agencies like Media House – these play a different role
================================================================
PR Agencies send press releases to wire agencies for release. Although they can also send out emails to newspapers/broadcasters direct. So PR releases do get treated as wire copy just like all the other stuff on the various wires.
I think what you might mean is when there is a wee bit of PR black arts going on when an exclusive is offered to a media outlet by a PR Agency usually for a well paying PR client designed to achieve a specific result.
This isn’t necessarily a good news story for the company but also can be an attack on a competitor by leaking an adverse story about them.
Richard Wilson: I think ecobhoy is right…he did suggest that being top of the dung heap doesn’0t equate to award winning journalism.
Richard Wilson: I think ecobhoy is wrong..why bother debating endlessly regarding the dung heap pole position? Maybe just enjoys taking a position and defending it logically and reasonably, but it eventually becomes tedious.
rabtdog says:
January 11, 2015 at 3:32 pm
and for everyone who says ‘Scottish journalists* are rubbish’, they should have a go at, ooh, let’s say…
• finding mike ashley
• posing a question to him
• getting a meaningful response.
__________________________________________-
We might actually deserve much criticism for that if it was, in fact, the job we are paid to do.
It may well be very difficult, or even impossible, to get hold of Mike Ashley, but that doesn’t stop the ‘journalists’ writing pieces that read like they have actually spoken to him or his closest advisors. I think, too, that there’s a much greater chance that someone with a NUJ card will get access to him, and so many others who’s views are considered newsworthy, than those of us who can only say we post on TSFM. The ‘journalists’ we criticise on here are the same ones who accepted Whyte’s wealth off the radar while a number of people on here, in their own time, were able to discover his rather tainted past – and present! Those ‘journalists’ who didn’t join in the triumphal march of Whyte, or Green, either didn’t do any research, or didn’t like what they found and so stayed silent.
From a Simply Law website a basic explanation of the phrase Head of Terms (made it easier for me to understand)
Heads of terms are a set of agreed principles which precede the signing of a negotiated contract, and which the parties intend to be reflected in the written contract. They set out the basis of the deal in broad terms.
It is important to record the contract discussions so that there are minimal surprises when the first draft of the contract is produced.
There is no universal practice on whether or not heads of terms are legally binding – some are and some aren’t. However, care is needed to make sure that the parties do not inadvertently drift into a binding contract on the basis of the heads of terms alone, when initially they were not intended to be legally binding.
This situation sometimes occurs where the parties by their conduct show a mutual intention to be bound by the heads of terms without having signed the written contract. This is a fertile ground for disputes.
Are heads of terms the same as letter of intent, memorandum of understanding and term sheet?
Yes. The circumstances in which the definitions are used may vary, but the definition of heads of terms is essentially the same as the definition for letter of intent, definition of memorandum of understanding and definition of term sheet.
If this large debt is real, as Phil mentioned, then I don’t think it is owed to Ashley. Phil wrote that Sommers was being asked questions by Llambias and Leech and both these guys will know of a bill that was owed to Ashley.
Like many on here, I can’t fathom an invoice of this size arriving completely out of the blue.
With regards to discussions on Richard Wilson: why has this guy come in for so much attention?
In my mind virtually all, so called, journalists in this country have shied away from the main topics of this story from day one. From the point the tax bomb bill landed a wall of silence, non-discussion, and denial have pervaded every aspect of this tale. The journalistic community have behaved like someone about to take an ice bath; they put their toe in and quickly withdraw it!!
Instead of simply stating the facts they have behaved in a cowardly and despicable manner. It is bad enough them denying the facts but to attempt to shout down and ridicule others who have a clearer grasp of the facts is shocking in a modern democracy.
When they were first presented with the ‘holding company’ lie they should all have refused to carry it. They should have stood together printed the simple truth and gave the lunatics so many targets their brains would have short circuited but no, they allowed the intimidation of Jim Spence to govern their actions which betrays them, both as journalists and decent human beings.
They have cast a long shadow over their profession which will take many a year to fade.
what was the Govan Stadium site pre its existing use? It is quite likely to be contaminated with many many dangerous nasties – knowing where the bodies are buried is one thing – knowing about the lead, chromium, mercury asbestos sodium and more is buried is another very costly land mine.
gunnerb says:
January 11, 2015 at 4:07 pm
Richard Wilson: I think ecobhoy is right…he did suggest that being top of the dung heap doesn’0t equate to award winning journalism.
Richard Wilson: I think ecobhoy is wrong..why bother debating endlessly regarding the dung heap pole position? Maybe just enjoys taking a position and defending it logically and reasonably, but it eventually becomes tedious.
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Only thing I would add is that I didn’t start nor participate at the start of the latest discussions on RW.
My interest was simply as to why he was attracting such angst as I personally hadn’t come across anything that marked him out as being that different professionally from the majority of his colleagues.
I am still left mystified but, as you say, the matter has become tedious as there is little in the way of facts being provided IMO that would form the basis for debate.
However, as always on any topic, if I’m mentioned by another poster I think it only good manners to respond and I usually do and I try not to be too tedious 😆
bfbpuzzled says:
January 11, 2015 at 4:41 pm
what was the Govan Stadium site pre its existing use? It is quite likely to be contaminated with many many dangerous nasties – knowing where the bodies are buried is one thing – knowing about the lead, chromium, mercury asbestos sodium and more is buried is another very costly land mine.
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Jaysuz – Sounds as though if any of these deid boadies escape from their lairs they’ll be easy to spot because they’ll be glowing in the dark and listening to heavy metal 😉
Bryce Curdy says:
January 11, 2015 at 12:18 pm
Chris Graham and other Rangers and Sevco fans complaining about the cost to the tax payer of ‘The Big Tax Case’ enquiry clearly have absolutely no concept of irony.
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Pretty sure they get the concepts of deflection, sophistry and disingenuity though.
Just shattered @4.40
Jim spence was first for stating the facts , now we have Jim delahunt being abused on Twitter for uttering the word”sevco” live on Clyde yesterday.
For this outrage , he apparently has been receiving threatening and abusive tweets regarding his wife and children.
This poisonous club/clump any immortal entity cannot die quick enough for me.
And I consider myself a very reasonable balanced human being.
The sale and leaseback of Ibrox involved a Manchester based financial organisation. The story in CQN was also verified as 100% accurate by The Sun, who were “persuaded” not to run it.
Barcabhoy says:
January 11, 2015 at 5:08 pm
Was it ever signed though?
I always thought that the version on CQN was only a draft.
Was it ever acted on and completed?
Whatever the ‘off the books debt’ turns out to be, I hope it’s more complex than expensive (though complex and expensive will do just fine). Something that is far more difficult to sort than to just throw money at. A sale and leaseback arrangement, perhaps delayed to a certain date or event, with a very onerous rent (now overdue), owed to a company that has litigation to sort out before it can even begin to negotiate with the current leaseholders… all tied up with a pink ribbon by a bunch of callous, but thorough, spivs!
I have always found it hard to believe that Green (and or his puppet masters) just walked when he did without some other money making scam in the offing. He just seemed too ready to go and give up on the goose that was laying the golden eggs!
justshatered says:
January 11, 2015 at 5:46 pm
We don’t know if anything was actually signed, but, if genuine, it does show that there was intent. And it was the people who ran TRFC who had the intent! And that meant, nobody was going to stand in the way of it.
The question is, should the proposed sale and lease back have been included in the prospectus, and would it have affected the share issue?
The sale & leaseback wasn’t signed . The share issue was Plan A , if it had failed then Plan B was sale & leaseback.
When the share issue was successful there was no immediate need to sell property assets. There has obviously been a subsequent need , however there is now the contingent liability (Con Liab) in the accounts which obviously wasn’t there at that time
I doubt it would be possible to conclude a sale now given the Con Liab.
RIFC confirmed the property assets couldn’t be used as security
Ground rent £1 I capitalised liability £20 so no biggie in the accounts but if there is an option to revert to full value of the whole thing say when attendees drop below a set number that would be a good spiv protector of their as Denis Healy said ability to ‘squeeze them til the pips squeek’ when other onerous cash flows diminish what the university of ivs might call an automatic stabiliser. The mighty Mr G is amazing.
@Zilch
…We demand better. Our clubs must be pushed to reflect OUR social norms, not those of business and politics, which IMO have become totally divorced from the common decency of ordinary folk.
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Great piece. And couldn’t agree more with the above.
Btw, is it just me, or does the blog appear, at times, to be a blog within a blog?
So here we are, awaiting the latest development with bated breath. Discussion on the blog has looked at a number of options but such is the mind-blowing nature of this saga that virtually nothing can be ruled out. As someone mentioned a day or so back if Kim Jong-un turned up we would be only mildly surprised. Clearly he will have been a closet Rangers supporter from his early days kicking a ball around the back streets and closies of Pyongyang.
When I started this particular blog I opined that MA was the only really sensible option for the Bears. I still feel this but clearly the Bears don’t.
If things really are as bad as is being indicated by Phil then if the clumpany is to continue MA is one of the few players with the deep pockets needed for survival never mind some return to a mythical place.
Like others today I’m bemused by the sums ‘invested’ by RRM and especially fans in shares – money now gone from the scene to, amongst others, spivs and their duped IPO investors who have given up the struggle. Do they really understand this?
If a collapse comes, and it may well be imminent despite assurances given by Llambias most likely before this latest crisis arose, then all of the money invested will probably be lost. This is money that could have been used to set up a new operation/club shorn of the spivs and onerous contracts.
At what point does this become obvious to the Bears and the SMSM stenographers?
Who will lead them out of this wilderness? No-one has stepped up so far and I’m not at all sure Mr Sarver will hit that spot.
So what are we left with? The 4Bs? Really? With the limited capital they probably have available? With all the baggage that DK brings to the project?
If MA pulled out tomorrow could they step into the breach? I have serious doubts.
An interesting few days ahead.
Scottish Football needs a strong Arbroath.
@Red
So true. Over the past few years have tried suggesting that in forums where Ibrox supporters are plentiful. Response was mostly aggressive/accusations of being a ‘Rangers hater’. Haven’t read much by those actually suggesting an alternative.
The crazies who are having a go at the likes of Jm Delahunt — for merely reading out a tweet containing the word ‘Sevco’ — still shout loudest.
“• finding mike ashley
• posing a question to him
• getting a meaningful response.”
One and two are possibly doable but how can you force someone to answer a question?
James Doleman says:
January 11, 2015 at 7:13 pm
Obviously you can’t. Its been suggested before that reporters should “empty chair” those who refuse to answer questions.
The trouble is, reporters who out those who refuse to answer questions, risk having all access cut off.
Its probably never been a more important time for reporters to be good at what they do, and not just on a trivial story about a provincial football club…
All this talk about Charles as an unseen hand still at work got me thinking about how he left Sheffield United. Just re-read the peice about his money-making stint there. There was also a link to a 2010 book (you well-informed types are no doubt well aware of it) called ‘Fit and Proper?’
The summary alone (on Amazon) makes you realise that once the unscrupulous get their paws on a fitba club it can be the beginning of a very long decline. A few parallels with oor ain Sevcomime, although tranvestitism has not featured north of the border, thus far.
Winner Sports @winnersports_ 24m24 minutes ago
Rangers FC – Exclusive, coming up at 10pm this evening – It will be interesting to see the fans reaction #SPFL
Should stock Market not be the first to know?
the taxman cometh says:
January 11, 2015 at 7:49 pm
You should know by now that rules are for the little people.
Be interesting to see exactly what the “scoop” is.
Had actually taken the absence of leaks, as a sign that no deal has yet been done
What does a ‘DISS16 (SOAS) Compulsory strike off suspended’ mean? Included in an email from companies house re TRFC?
Brenda says:
January 11, 2015 at 8:23 pm
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What does a ‘DISS16 (SOAS) Compulsory strike off suspended’ mean? Included in an email from companies house re TRFC?
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Sevco 5088?
Someone has been trying to dissolve that company for a while and it gets blocked every time
the taxman cometh says:
January 11, 2015 at 8:25 pm
It would be interesting to know who blocks the strike off, could be BDO, or just about anyone really
The only thing I can think of, that would make sense, without informing AIM first would be administration. Anything else would be trivial and not worth bothering about. But then again it wouldn’t be normal if some rules were not being broken.
upthehoops, Casper999 & others
Re Delahunt uttering the Sevco word on the utterly execrable RC SSB phone in.
Some of you may already be aware that this word triggers the swear filter on the comments page of The Scotsman! While it’s easy enough to get round (I use Cosev but S evco also works) my repeated challenges to the moderators to justify their position are invariably ignored. This is what living in North Korea must feel like.
berrty says:
January 11, 2015 at 8:27 pm
HMS Dignitas is the only ship I know of, that leaks from the bridge
Had a look at the @winnersports_ Twitter account, who claim to have exclusive news about Rangers. There are hints about a stadium naming deal.
Have the Dallas Cowboys been in touch ???? Nope ! Have the 500 Million finally stuck in a quid each ? Nope! Ok i give in !!!!
If journalists have all failed then – and there are common references here to journalists as a generic category of suspect people, apart from the select few that TSFM likes – then I’ll throw this open as a suggestion. Why not get one on the podcast and have a ritual witch-burning? Of course you might allow someone like Grant, Wilson, Spiers or whoever a token few minutes to state their case before the barracking starts but, hey, since they’re •all• guilty anyway what difference will it make?
Meanwhile statements like ‘I know nothing about Subject X but all those who do are wrong’ really doesn’t do the credibility of this place any favours.
Brenda says:
What does a ‘DISS16 (SOAS) Compulsory strike off suspended’ mean? Included in an email from companies house re TRFC?
===============================================
Interestingly GREEN, CHARLES ALEXANDER MR is still listed as the sole director of Sevco 5088 Ltd. The DISS 16 (SOAS) is not yet showing.
The FIRST GAZETTE NOTICE FOR VOLUNTARY STRIKE-OFF GAZ1(A) was lodged on 16 December 2014.
This follows a number of previous (foiled) attempts to achieve this.
Someone wants to keep Sevco 5088 Ltd alive. Whatever for?
Scottish Football needs a SMSM now prepared to point out that the Emperor has no clothes.
What was the context of Jim Delahunt using the word “Sevco”?
I read some of the abuse on Twitter he received and re-tweeted and it is not nice.
Does someone have the time-stamp on the podcast when he said it?
Adeste Fideles says:
January 11, 2015 at 8:55 pm
Believe it or not, all the poor man did, was read out someone’s tweet on the radio.
The complete and utterly irredeemable feckwittery of these peepil is beyond comprehension, or at least my comprehension, at any rate.
And of course the exact ownership of Sevco 5088 Ltd was the subject of a Regulatory Notice issued on 23 April 2013 :
http://www.iii.co.uk/research/LSE:RFC/news/item/697227/response-media-speculation
“In light of the recent media speculation in relation to alleged claims which are purported to have been made by Craig Whyte, Aidan Earley, Law Financial Limited or Worthington Group plc in relation to the ownership or control of Sevco 5088 Limited (“Sevco 5088″), Rangers confirms that no legal claim has been received by Charles Green, Imran Ahmad or the Group. As none of the allegations that have been made in the press have been substantiated by evidence of any legally enforceable rights and as details of any claim, whilst threatened, have not been received, the company regards any such press commentary and speculation to be highly spurious. The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company and its directors from such spurious claims.
In view of recent media speculation, the company wishes to clarify that Sevco 5088 is not an active subsidiary of the Rangers International Football Club plc. It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House. Sevco 5088 was listed in the company’s announcement dated 22 April 2013 to comply with the AIM Rules for Companies requiring disclosure of directorships held by the directors of the company both currently and during the preceding 5 years. Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.”
With classic weasel wording RIFC thus managed to avoid confirming ownership of Sevco 5088 Ltd but left room for the opposite implication to be drawn should they be challenged on the matter by, say, the SMSM (ha!).
Scottish Football needs the footballing authorities to do their job this time.
OMG Brenda, you are now a member of the Literati and I am still a pleb!!!
Note to self: Give up!
Seriously though, well done to everyone for the information given and erudite contributors on here. I am very glad to be able to answer difficult questions in my workplace from the savvy of you all on this site.
redlichtie says: January 11, 2015 at 8:47 pm
Brenda says:
What does a ‘DISS16 (SOAS) Compulsory strike off suspended’ mean? Included in an email from companies house re TRFC?
=========================
I recall that a strike off request had been suspended a few weeks ago, but that was for Wavetower (The Rangers FC Group Ltd – Company No. 07380537).
Here’s what I had noted at the time:
DISS16(SOAS) 20/12/2014 COMPULSORY STRIKE OFF SUSPENDED
GAZ1(A)11/11/2014 FIRST GAZETTE NOTICE FOR VOLUNTARY STRIKE-OFF
There is an outstanding Strike-off request for Sevco 5088, but I’d expect that it will be suspended in due course, once Worthington, BDO or the legal authorities get their act together.
EJ – would be fascinating to find out who is trying to have the companies struck off and who is resisting it!
Can this be ascertained?
Scottish Football needs a strong Arbroath.
Je suis Jim Delahunt.
…et Jim Spence.
I gave you a TU rabtdog because I think it would make for an interesting podcast (not the witch burning bit, just having a decent journo being interviewed). Looking forward to the Chris Brookmyre podcast though
Lol Jean no chance, due to my interest in this sight a relative received the email and asked if I knew what it meant 😉 had to ask my pals so that I could give him a semi sensible answer 😉 looks like an interesting week 😛