The purpose of The Scottish Football Monitor is to pay homage to, and carry on the work of the groundbreaking RangersTaxCase blog (RTC). The aim of the Scottish Football Monitor is to cast a questioning and watchful eye on Scottish Football officialdom and the compliant mainstream media (MSM).
Scottish football, in the immediate wake of the Rangers FC liquidation, faces great challenges. The MSM have provided no sensible checks or balances on the actions of the authorities. The Scottish Football Monitor aims to provide those checks and balance.
The cosy relationship that has existed between the media and people at the top of Scottish Football has dissuaded those who may otherwise be moved to blow the whistle on wrongdoing. The Scottish Football Monitor aims, through time, and by winning the trust of ordinary fans, to fill a gap in the football media in Scotland that has been up to now filled only by RTC.
The Rangers FC saga, its consequences, and consequences of the accompanying stream of untruths and misdirection fed to us by the MSM is far from over. RTC was successful in getting the previously buried truth of the Rangers tax case into the mainstream despite a hostile MSM reaction. The Scottish Football Monitor hopes to use the skills and expertise of those in our community to a cast light on matters that those in authority would have concealed, or at least present alternative arguments to those being presented as having none.
Scottish Football Monitor asks contributors to remember only a few things;
1. The site is not the domain of any one club and is open to fans of all clubs.
2. Absolutely no discussion with regard to religion should take place.
3. Posters should refrain from using foul or abusive language.
Welcome to The Scottish Football Monitor
Mark Daly on Sportsound tonight at 18:10
Just heard Big Eck mumbling something about ‘not stripping titles cos…..well just cos….er no?’
So we have Minty, Walter, Ally and Big Eck this weekend, telling all who will listen that there is nothing to see here, move on. Is it just me being a suspicious Aloysius, but do these individuals not have most to lose from this inquiry finding the club guilty?
Do none of them want to clear their names of any wrong doing? The thought of an independent Law Lord opening this can of worms, has every one of them filling their pants, bring it on!
Captain Moonbeams Has spoke!! Ironically on the Christian feast of the Transfiguration, Minty speaks from his Cloud (Cuckoo land) In God Like Tones…..” We didn’ae break any rules,” it wisn’ae me, so stop accusing us of something we did that you were never meant to find out about.” ” It’s no fair.” Over to you Ally, right on cue, ” Its a waste a time.”…………..No Ally your the waste of time…….Phud.
McCoist – “I’m under the impression that there’s absolutely no dual contracts, so therefore I’ve been told that it’s probably a complete waste of time”
————————————————————————————————————————-
under the impression!!!!…..the statement of a guilty man
Smell the Glove@17.59
It says it all for me. I was never a fan of Strachan and his handling of the media. It did Celtic no favours. Lennon’s behaviour in the early days whether justified or not was also counter productive.
But McCoist, a man with little ability to do the job he’s paid for and no social skills whatsoever is a vital cog in the Sevco machine. They need him to maintain the link between the club and the customer. In addition he’ll stick to the party line with no questions asked.
What a position to be in.
Apologies for my dalliance with off-topicness…
Incredibly the fools on FF have swallowed it hook line and sinker
The gullability of these people is stunning
I take it Davie boy will now be re-sending his writs to Mark Daly and the BBC, the last lot seem to have been lost in the post.
BDO. Bring it on. 🙂
Rangers Tax-Case @rangerstaxcase
I guess the email about shredding contractual documents was just about keeping the office tidy. My mistake. Sorry for any fuss caused
silly dodds getting a hard time from mark daly on radio scotland at the mo’.
Smell the glove says:
August 6, 2012 at 17:59
This is how stupid he thinks the rankers fans are. He has no respect for them or us. The man is a complete fud and a sh*t manager. How many trophies, Sall? He’s being used and manipulated. Chaz n Dave, chaz in one ear, dave in the other, giving it, rabbit, rabitt, bunny ,bunny.
———–
he knows his audience they are lapping it up on follow follow
great statements from swally Eck and minty on the same day the fightback is on apparently
If you were not guilty of what you were being accused of you would have been screaming from day one.
In the words of a truly great band (credence clearwater revival,for you kids)
” I Hear A Bad Moon Rising”
http://www.bbc.co.uk/sport/0/scotland/17325775
Sportsound for those who cannot get it
“Tax AVOIDANCE is a right. It is tax EVASION which is a crime.”
Well said Sir, well said
Tick Tock, Tick Tock
I feel the time to change my nom de plume (again), is nearing. 🙂
Rangers Tax-Case @rangerstaxcase
I guess the email about shredding contractual documents was just about keeping the office tidy. My mistake. Sorry for any fuss caused
Absolute class! LMAO.
last week Doddsy spouted on BBC that the £190K was money due to him i.e. contractual, SDM claims they were not and so all okay.
why don’t they just ask him once again to confirm on air this was a due contractual payment = end of story, guilty as charged.
once again for some reason haks unwilling to press home.
Domaine Jessiaume says:
August 6, 2012 at 16:47
The whole “bayoneting the wounded” thing is a little off too.
————–
Absolutely shocking thing to say. Fits in with the seige mentality nonsense, kicking us when down, everybody hates us, ad nauseum.
Sort of thing that will appeal to the non-thinking rabble. Dangerous talk. But perhaps an even bigger turnout of the defiant tomorrow?
“……It would now appear that these are to be rewritten to incorporate non-contractual loans from independent third parties and other non-contractual matters….” says SDM.
Art 12.3 of the SFA Articles of Association specifically requires that ‘…. ALL payments,WHETHER MADE BY THE CLUB OR OTHERWISE,which are to be made to a player solely relating to his playing activitiies must be fully recorded within the relevant written agreement with the player prior to submission to the Scottish FA and/or the recognised football body of which his club is in membership.’
It speaks libraries of volumes that the great business charlatan could not say ” the SFA/SPL were provided with a note of the contract agreed with each player detailing all and every part of the complete remuneration package paid directly by the club and of all other payments available to the player indirectly through a trust fund set up legally under the legislation then obtaining.”
And what kind of lawyers has he got?
If part of his case is that the rules have changed since the ‘offences’ were committed, where is the chapter and verse to prove it?
How low has this erstwhile star of the business world sunk?
Lower even than Fred of the RBS , who at least did not whine and moan and beg for a sympathy vote from the people he betrayed!
Fred just took his customers’ money.
SDM has destroyed a large part of the emotional history and aspirational life of the very peepil who trusted him with their footballing hearts.
He wielded the bayonet on his own sick club with a ruthless savagery.
And yet he still tries to play the fans of the old club like suckers.
The man is an unhealthy excrescence from which emanates the stench of hypocrisy.
Comments from wee Mr McLeish and Mr McCoist on ‘no dual contracts’, nothing to see here.
PS Ally – If I tell you that the tooth fairy exists – that does not make it so 🙂
Will Mr Souness and Mr Smith have anything to add in the resounding defence of EBTs?
I don’t think so somehow.
I’d LMAO if the FTT verdict was published tomorrow.
Kindred Spirit says:
August 6, 2012 at 18:11
McCoist – “I’m under the impression that there’s absolutely no dual contracts, so therefore I’ve been told that it’s probably a complete waste of time”
————————————————————————————————————————-
under the impression!!!!…..the statement of a guilty man
———————————————————————————————————-
MSM – at the next press conference please ask Mr McCoist :
1. Did you have an EBT?
2. Were you given a verbal or written assurance from RFC or associated company that they would indemnify you against any tax liability that might arise?
3. If you had an EBT, have you paid back any of the sum loaned to you via that EBT?
Three simple questions that Mr McCoist should be able to answer in the interest of clarity and honesty. An opportunity for Mr McCoist to personally put this whole thing to bed.
Who’s up for asking real questions, then?
/ Red Lichtie
Can you get a sportsound Podcast for tonights show with Mark Daly??? Many thanks.
Billy Dodds criticising the crowds at the weekend – and calling it a failure for sell-out Saturday. Er that’s next week Billy! so we all need to get out to a game next Saturday and support Scottish football so that they can’t throw it in our face
>> Sir David Murray denies cheating took place during his time at Rangers.
He would say that, wouldn’t he?
My take on SSB tonight
a) Should Billy Dodds be allowed to go to the toilet on his own without his financial advisor to accompany him?
b) Alex McLeish’s non-statement and the his general inarticulate delivery should ensure he remains unemployed.
c) Jim Spence suggested that the average fan in the street was now fed up with the whole affair and was satisfied with the present situation of Rangers Newco in the SFL3. Personally I’m not sure if he has judged the mood correctly. Most fans appreciate that there is no hope of making Rangers Oldco/Newco pay financially for their misdemeanours, but all I know fully expect the principals of this debacle to be thrown out of the game permanently if sufficient evidence comes to light of their complicity, And not just SDM,CO,CW etc but McCoist,Souness,McLeish,Smith etc who were willing fellow-travellers.
Sally appears with his “waste of time” speech & I get into trouble from the wife for the profanity I used,she just doesn’t understand what the sight & sound of this sleekit little beggar does to me.
alex thomson @alextomo
Murray says ‘no cheating’. SPL lawyers say ‘case to answer’ . Who do u believe?
it’s pretty obvious from my tag which team i follow, but a question to the non CFC followers on the post. How does it make you feel having to listen to that pap on radio salivating over TRFC signing ” the best premier league players” from, as they obviously still believe,the diddy teams.
scandalous!
The Paper Boy says:
August 6, 2012 at 19:04
>> Sir David Murray denies cheating took place during his time at Rangers.
He would say that, wouldn’t he?
————————————————————————————–
Minty Rice-Davies?
/ Red Lichtie 🙂
Jim says:
>> Minty Rice-Davies?
Sounds like a dish from an Indian/Welsh fusion cuisine establishment 🙂
last week Doddsy spouted on BBC that the £190K was money due to him i.e. contractual, SDM claims they were not and so all okay.
why don’t they just ask him once again to confirm on air this was a due contractual payment = end of story, guilty as charged.
once again for some reason haks unwilling to press home.
————————————————————————-
I sent them 3 emails & texts tonight asking them to ask the same question, surprisingly none were read out.
It really isn’t difficult – ask them what the payment was for ? If it wasn’t contractual then why were they entitled to it ?
If it was a loan, when were they going to pay it back ? If Mr Adviser didn’t tell him it was a loan, what has he said to him for not giving him the full story ?
I think Dodds is so thick that if any half decent journalist got in front of him the beans would be spilled in no time
dear dave, when you paying yours back??
So no dual contracts?
A first year law student would be able to advise SDM how a contract may arise without being formally written down in the usual contractual form.
I would have thought that SDM could get better legal advice than that!
Secondly, reading Paul McC’s blog just now, I was alerted to the attacks on PL’s daughter to be found currently on RM. Wish I hadn’t had a look.
If that’s what the rest of Scottish football is up against then we really have our work cut out to deal with these untermensch (apologies, but that’s an apt description).
I used to dismiss them as ‘not very nice’ but having read those comments they really are the lowest of the low.
After never listening to Radio Scotland I decided after the good press from this site (RTC) I would give it a try tonight, wrong night I presume.
Lots of talk, on which was the best striker for Rangers to sign, Kyle, Beattie, Sandaza.
Lots of talk regarding Lee Wallace having little aspiration according to Craig Levein, apparently the only big club he could go to in Scotland to enhace his international chances is Celtic.
Lots of talk on the disappointing turnout at Celtic Park on Saturday.
Talk from Jim Ballantyne on how he feels all the clubs will benefit, don’t expect Rangers to march through the leagues in 3 seasons, Oh I don’t think there will be a reconstruction of the league. Why mention it then?
Missed the first half hour, was this weeks European ties mentioned at all?
When will these people start talking up Scottish football rather than talking it down.
If Rangers were not in any league would they then realise that you can only sell what you have?
Celtic fans please head to Stark’s Park on saturday and help fill the home end.
Alex McLeish:
“I reduced the wages by half”
– 50% you say? what a coincidence that it also happens to be the top tax rate!
“It’s not something I’m particularly comfortable about discussing”
-I wonder why!
“My lawyer looked at it and it was the type of contract that you know that going to a club like Rangers or Celtic, you would be expecting.”
– So there was a contract, you say? Please, don’t bring Celtic into this.
test
After never listening to Radio Scotland I decided after the good press from this site (RTC) I would give it a try tonight, wrong night I presume.
Lots of talk, on which was the best striker for Rangers to sign, Kyle, Beattie, Sandaza.
Lots of talk regarding Lee Wallace having little aspioration according to Craig Levein, apparently the only big club he could go to in Scotland to enhace his international chances is Celtic.
Lots of talk on the disappointing turnout at Celtic Park on Saturday.
Talk from Jim Ballantyne on how he feels all the clubs will benefit, don’t expect Rangers to march through the leagues in 3 seasons, Oh I don’t think there will be a reconstruction of the league. Why mention it then?
Missed the first half hour, was this weeks European ties mentioned at all?
When will these people start talking up Scottish football rather than talking it down.
If Rangers were not in any league would they then realise that you can only sell what you have?
*aspioration- ambition, its also does not have a three letter acronymn!
Ssssshhhh. Lord Dodgy of Skintmint has released a statement. Sssssshhhh. Listen…
Same old pish, Your Dodginess, eh?
john clarke says:
August 6, 2012 at 18:46
JC the pertinent point is he uses SPL rules whilst knowing full well he was breaking SFA rules…….a great man once said ( ok, it was me) that a great big file is gonna land on the desk of M . Platini if this is not dealt with appropriately……..dinna fret…..regan & doncaster do not answer to minty and his like, they are yesterdays men…….the awful thing is, they already had a ( fair ) advantage……best supported , highest revenue, sponsorship ……..it just was not enough when CFC broke the dominance
Francisco Sandaza. Consider this – his former club, who have broken even for twenty years cannot afford him but a club with no audited accounts who have left debt of £134m to unsecured creditors can sign him.
If anyone thinks this is either credible or morally right then we have lost our right to call football a sport.
Watch how this travesty will be reported – grotesque.
My strong feeling is that given the recent statements from all associated with the former club,from SDM to the supporters’ associations, the quicker the independent commision becomes involved following the Harper McLeod ‘prima facie’ finding,the better.
In addition the whole process would be brought to a head with the FTT result,and thus end this ridiculous posturing from the Govan faithful.
At every step we have had these angry,aggressive noises and frankly, like all bullying ,it becomes tedious to listen to.
The old addage,if they have nothing to fear,then why make a noise at all?
I have decided to issue this statement because of the concerns which I have at the continuing attempts to inflict further punishment on Rangers Football Club.
————————–
Im bricking it ,they’re gonnae hammer us and I dont want the blame
—————————–
While the “Newco” Rangers was rejected for membership of the SPL on the publicly stated grounds of sporting integrity, I would question whether this was the underlying motive for many who took this decision. I am not totally convinced by the explanation that they were reacting to the opinions of the supporters of their individual clubs.
This, in my opinion, is a suitable answer to cover many other agendas.
——————————————-
the other clubs are liars , they are b1gots deep down,Charles and Ally also believe this
so you should as well
———————————-
I applaud the decision of the SFL to accept Rangers for membership and respect the decision of the member clubs of the SFL to admit Rangers to its Third Division.
———————————
Since the SFL is now in charge of Rfc* affairs I will welcome them into the MIH Lodge
oh and thanks for bending the rules on entry for us it was the correct thing to do
———————————–
The problems at Rangers have brought no credit to Scottish football and are a tragedy for the Club and for all those connected with it and who support it. They cannot be condoned and it is appropriate that there should be a proportionate penalty for the Club for the events over the last year
——————————
Craig Whyte is a bad man , his fault remember
———————
However, I urge all those connected with Scottish football to bring this sad affair to a close – now. Bayoneting the wounded is neither justified nor proportionate.
————————–
will the LL please make the bad man go away ,me scared
————————————-
Nevertheless, I cannot be anything other than angered at the suggestion that Rangers should be stripped of titles or other competition victories.
————–
try it and I’ll set the bams on you, whistles for Ffido
————————–
this suggestion is an insult to the staff and players who achieved these successes thanks to skill, hard work and commitment and for no other reason.
——————————-
they loved Rfc* so much they would have played for half their wages
——————————-
It is also an insult to the thousands of Rangers supporters who spent their hard-earned money to support the Club they love.
—-
Ffido -here boy!
——————————————
I hope that those presently in charge of Rangers show sufficient resolve when it comes to resisting this move, despite the incentives being offered to do otherwise.
—————————–
I have been teaching Charles how to control the loyal
I think he’s coming along fine ,keep it up Charles
————————
I believe that there is a misconception which may lie behind this suggested penalty and accordingly it is my duty to clarify certain matters.
————–
they are confused thats all,Im putting them straight
——————-
During my stewardship of Rangers no rules were breached or circumvented and I reject and resent any suggestion that anything was done which amounted to cheating.
As was required of a PLC, all accounts were fully audited and made available to all entitled parties. All football rules were complied with. All enquiries from entitled parties or organisations were answered.
To those who criticise certain actions undertaken on behalf of the Club, I suggest that they familiarise themselves with all relevant rules before they come to any conclusions or express any opinions.
————————-
Im honest Dave, I went by the book and if you say different I may sue
————————-
Im going to stop reading between the lines now as this statement is too vile to continue analysing
Jardine McCoist and Green all seem to be singing from Mintys songbook
blame Whyte ,play the b1got card, remain in denial of any wrongdoing,rouse the masses,
appeal to the laptop loyal to continue the fight, scream injustice.
weasel words from start to finish
Scotland Behave says:
August 6, 2012 at 16:28
“Since 2001 when the EBT scheme was introduced, the amounts contributed were disclosed in the audited financial statements of the Club. These audited accounts were provided to the SFA and SPL as required”.
……………………………………………………………………………………………………………………………………
Always on the lookout for weasel words me—— must be my lack of private school education.
Take the above ———- ” disclosed in audited financial STATEMENTS ” (my CAPS) becomes “these audited ACCOUNTS” (my CAPS) …..”.provided to the SFA and SPL as REQUIRED” (my CAPS).
What’s the difference between” audited financial statements” and “audited accounts ” and who does the “requiring “, the SFA and SPL ? Is it a case if you don’t ask you don’t get or is Dodgy Dave accusing the SFA and the SPL of being in full possesion of the facts surrounding his use of EBT’s?
The audited statements /accounts also included a valuation of of Ibroke/Moses park /Dandelion Corner of £105 million……. all now gone to a lucky punter for £5.5 million so how reliable are the auditors ? Not very I suggest.
Can anyone clarify or elucidate ?
Puzzled
Tic 6709 says:
August 6, 2012 at 18:35
‘In the words of a truly great band (credence clearwater revival,for you kids)
” I Hear A Bad Moon Rising”..’
—
And right away I’m on the Maid of the Loch ( as a single man), 1969, with the beautiful M……, on a beautiful night, with the office party……. credence clearwater revival blasting out as we leapt about like mad things!
Nice memory. I know what became of me. Wonder what became of her?
SDM says:
“Rangers agreed contracts of employment with its players (and staff). The EBT scheme involved the contribution of funds into an offshore discretionary trust managed by independent trustees.
The trustees could and did make loans to individuals carrying interest with scheduled repayment dates.”
If that’s the case, there must be a lot of money plus interest lying in the Trustees bank account.
But then, “In December 2010, as a result of legislation changes introduced by HMRC, EBTs were rendered tax inefficient. Thereafter the Club made no further contributions to EBTs.”
The trustees are legally responsible for the assets held in the trust and are required to manage the trust and carry out the wishes of the person whose assets were placed into trust (the settlor).
What will the settlor’s wishes be in relation to all the loan repayments together with the agreed interest which SDM says were scheduled and which presumably are in the Trust bank account now that RFC no longer interested in rewarding staff in this manner through EBTs.
Perhaps the scheduled repayment date for any loan made since 2001 has not yet fallen I hear you say.
Hhmmm!
Mark Daly tried his very best with Doddsy but it was akin to pushing water uphill
“So did you know the £190K was a loan and you would have to pay it back?”
“I left all of that stuff to Struan Marshall, my agent”
“Yes but did expect you were going to have to pay it back or not?”
“I didn’t have anything to do with that sort of detail, I left it all to my financial adviser to sort out”
That’s not detail, Doddsy, that’s fundamental. If your adviser thought you were going to have to pay it back, he would surely have told you.
Murray is as usual just trying to deflect attention from where it should lie.
That also helps explain why the likes of Dundas & Wilson and Dickson Minto could never have been asked to carry out the SPL enquiry; THAT would be a conflict of interest, as they continue to advise Murray and/or his businesses.
Any reports of the footballing debts being paid yet? I presume this was one of the conditions, and I am positive that if they had been paid everyone would know, so who will ask the question?
Any news on when the independent SPL enquiry will start?,
who will be on it?,
when are they expected to finish?
when will they announce any punishment?
What the hold up is?
Why the SPL cannot hand down any punishment themselves? The SFA are the Appelant body, not the SPL.
If they are still awaiting further documentation from Duff & Phelp?
TRFC … The story that keeps on giving 🙂
Reflecting on the recent relatively slow news period for SFM & post transition from RTC, I assured the future mrs Logie that the iPad would be barely used after work and there would be fewer outbursts of righteous indignation and wailing in the house (until the FTT reports…..)
& then SDM and Sally issue their statements! I can barely believe the cheek of SDM with this Walter Mitty scale dissembling….I don’t expect much more from Sally but this from SDM is for one audience only (ie RM) : no one with any intelligence or even the scantest passing knowledge of what has happened over the last year would buy it
FTT reporting this week?
Is there any chance we could have league reconstruction this season and slip an extra division in between 2nd & 3rd?
Just a thought….
/ Red Lichtie
john clarke@18.46pm,
“The man is an unhealthy excrescence from which emanates the stench of hypocrisy”.
Loved that line.
But the big question is , did he pass the sniff test??
Is there a veiled threat in there to the SFA? Is that who the statement is actually aimed at? A “we know where you live and where the skeletons are,” coded message?
Who else thinks SDM was pishy pants (Old Gold) on RTC? 🙂
My wife has not long returned from meeting friends in Glasgow.
One of those friends moves loosely in the wider legal world.
Apparently there is reasonably soundly- based talk that (allegedly) a charge of assault on a Channel 4 journalist hangs over a certain waist-line challenged ‘sports journalist’ ( I use the term sarcastically, of course).
Has there been any reference to this on the blog? Or anywhere else?
I’m not really into rumours, but I’d really love this one to be true!
For an excellent review of events and the potential wider implications see Gerry Hassan’s latest write up;
http://newsnetscotland.com/index.php/scottish-opinion/5535-the-wave-of-democratic-protest-that-changed-scottish-football-will-change-society
Well worth a read in my humble opinion.
the Don Dionisio says:
August 6, 2012 at 20:05
‘
…But the big question is , did he pass the sniff test??’
—-
And I loved that line!:)
So, the various so called “supporters trusts” have queried the professionalism of a law firm.
Hmmm. Interesting that any call for an “independent inquiry” would probably prohibit most if not ALL of the top legal firms
in the country.
Would there have been a ‘conflict’ if Minto’s or Dundas & Wilson, Levvy McRay had found on ‘first pass’ there was a case to answer?
The fact remains that there was (prima facie) evidence to suggest wrongdoing. It makes no difference who discovered/ investigated it.
In Walter they trust, in Ally they trust, in Employee Benefits (they) Trust
In lawyers I trust!
Let’s look at Murray’s statement
Rangers agreed contracts of employment with its players (and staff). The EBT scheme involved the contribution of funds into an offshore discretionary trust managed by independent trustees.
===========================================================================
This is fine as far as it goes
===========================================================================
The trustees could and did make loans to individuals carrying interest with scheduled repayment dates.
===========================================================================
So they are loans, which one would assume were granted under certain terms and conditions
I presume that RFC (IA) or the Trustees will be able to produce the necessary documentation to back up this statement
===========================================================================
There was no contractual or beneficial entitlement to the funds on the part of any individual and the monies paid to EBTs were not “remuneration” in terms of any rules applying to the Club.
===========================================================================
So they were not remuneration
RFC (IA) donated large sums of money, to which the employees were not entitled, to individual EBTs, and told their employees that at some point they could apply for a loan, which would have to be repaid within a fixed schedule
===========================================================================
Since 2001 when the EBT scheme was introduced, the amounts contributed were disclosed in the audited financial statements of the Club. These audited accounts were provided to the SFA and SPL as required.
===========================================================================
RTC has already addressed this, and shown it to be a massive red herring
===========================================================================
So there you have it
We paid millions of pounds into trusts for each employee in the scheme, that we didn’t have to, so that said employees could apply for loans which would have to be repaid to an agreed schedule
Additionally these employees didn’t have to do anything, to be entitled to the payments made to the trust, nor obtain loans from it
Murray, stop taking the piss
We are, believe it or not fairly intelligent people, so stop treating us as idiots, as we are probably a lot smarter than you
Personally, I hope you and your mates keep on digging the hole
Larsson7 says:
August 6, 2012 at 19:09
I find it scandalous that they have been allowed to get away with signing players while still owing my club £800,000 that might well have allowed them to sign some of the players Sevco are signing, while reducing Sevco’s ability to sign anyone. It seems equally scandalous that no one in the media is picking this up and running with it, they made enough noise about how unfair the signing embargo was, you know the one Rangers got for not paying millions of pounds in taxes and NIC, and yet seem unfazed by the way Hearts are being denied what is rightfully theirs. The same applies to all the other clubs, at home and abroad, still out of pocket. It appears Sevco (as Rangers) are still getting away with signing players with other people’s money!
SDM = Stupid Dumb Mother…
All this talk re EBTs being only loans, with fixed repayment schedules. as per SDM today, got me thinking perhaps we have all got the wrong end of the stick.
It’s really a TBE – perhaps Souness gave £30K to Rangers when he left, then got it back ten years later as an EBT.
How did we not twig that?
Rangers manager Ally McCoist has added that any
probe into hidden contracts is “probably a waste
of time”.
~~~~~~~~~~~~~~
So worth a look then Alistair?
I`ve thought long and hard about saying this
But it has to be said ……….someone has to say it
“Sir David”
”
“I believe Craig Whyte before I believe you”
Be glad when all this is finished and we can move on to getting rid of the old 11-1 vote that favoured OF and see a fairer share of tv money to all clubs.
Apologies if this has been posted today.
http://kerrydalestreet.co.uk/single/?p=11638942&t=8719788
06 August 2012 09:21
Craig Whyte: The oldco owner bought 85% stake for £1.
Pic: SNS Group
A move to liquidate Craig Whyte’s parent company that owns ‘oldco’ Rangers has been suspended.
The Registrar of Companies lodged its intention to dissolve Rangers FC Group Ltd last month.
It had made the decision as the company that owned an 85% stake in what was The Rangers Football Club plc had not been active or trading for 12 months.
However, the attempt to dissolve the parent company, which was formerly known as Wavetower, has been stopped after an “objection to the striking off has been received by the Registrar”, a document lodged with Companies House has revealed.
It is unclear if Mr Whyte has lodged the objection to the striking off, while should the Registrar decide the action is once again raised by the registrar a further public notice will be published.
Rangers FC Group Ltd was used by Mr Whyte to take over The Rangers FC plc in May 2011, when he bought a majority stake in the club for £1 from Sir David Murray.
The company, which is registered in London, is currently the subject of litigation from club administrators Duff and Phelps, who are pursuing the businessman and his former lawyers Collyer Bristow for more than £25m.
Last week the Sevco consortium that purchased Rangers’ assets completed the name change of the club’s business operations. The newco’, formerly Sevco Scotland Ltd, has been changed to The Rangers Football Club Ltd, while the oldco, incorporated in 1899, has had its name changed to RFC 2012 Ltd.
Liberty Capital
The group company is wholly owned by Liberty Capital Limited, the British Virgin Islands registered business entity owned by Mr Whyte, which has stakes or links in the majority of his dealings.
Mr Whyte’s business associate Philip Betts was a director of the parent company, as well as of the oldco in the nine months before administrators were called in. Andrew Ellis, who subsequently claimed he was duped by Mr Whyte in his takeover of the Ibrox club, is the only other director of Rangers FC Group alongside the 41-year-old.
In March, Mr Whyte used the parent company in an attempt to strengthen his hold on the assets of the club through assigning a debenture to Liberty Corporate Ltd, a dormant company owned by him, of which his father Thomas Whyte is the sole director.
Liberty Corporate Ltd was granted a fixed and floating charge over Rangers FC Group, while it already had a floating charge over all of the assets of the club as a result of the purchase from Sir David.
The former Rangers owners’ shares in the club did not come to have any bearing on the sale process as a company voluntary arrangement (CVA) deal with creditors was rejected last month, after HM Revenue and Customs found it contradicted their public policies on non-payment of taxes.
Subsequently, the assets of the club were sold to the Sevco consortium led by former Sheffield United chief executive Charles Green in a £5.5m deal, which also covered Duff and Phelps £2.8m legal fees.
Independent insolvency firm BDO will be appointed to liquidate the oldco at a future date, although so far no day has been set for this to take place. At the time of the asset sale in June, Duff and Phelps said they expected to remain in place as administrators for between six to ten weeks.
Ticketus
In a document released last month, the administrators confirmed there were “no provisions” within their power that would have resulted in Mr Whyte being compelled to deliver his shares to any prospective new owner, which contrasts with their claim during the bidding process that his position was “irrelevant”.
The administrators also revealed in the document that the legal battle among themselves, Mr Whyte and the lawyer who advised him on the takeover, Gary Withey, is not likely to reach English courts until late next year.
Originally, the case was scheduled to be held in October, but since then Mr Withey has applied to join the civil action against Mr Whyte, while Collyer Bristow has also lodged claims against him, as well as Liberty Capital and Merchant Turnaround plc – another company linked to the businessman who has not returned to Ibrox since administrators were appointed on February 14.
According to Duff and Phelps, the case is expected to go ahead in the summer or autumn of next year. London ticketing firm Ticketus are also pursuing Mr Whyte over the Rangers takeover.
The businessman effectively funded his buyout using a £25.3m deal with the company for future Ibrox season ticket sales that he used to wipe out the club’s £18m debt to Lloyds Banking Group.
After a Court of Session ruling, the deal between the oldco and Ticketus was torn up by administrators because Lord Hodge found that they would be able to do so if it was in the overall interest of the creditors.
The Crown Office has previously confirmed it has ordered Strathclyde Police to pursue an investigation into alleged criminality surrounding Mr Whyte’s takeover of Rangers after they received documents from Duff and Phelps.
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I saw this post from De profundis while I was using BalckBerry but couldn’t respond. he captures my sentiments exactly and I had tears rolling down my cheeks when I read it – thanks for the laugh De P and thanks TSFM for removing the space aliens which reduced the seriousness of the subject matter!
De Profundis says:
August 4, 2012 at 00:05
I wish RTC had never left, I bloddy hate the alien face which stares at me when I’m trying to post, and try as I might, I can’t change it, Gravytar won’t accept either the username or email which are displayed right below, I give up, away to bed. Hopefully you can see the thing with the green face.
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De Profundis says:
August 4, 2012 at 00:06
Ah, Sweet Jesus, would you look at it!
🙂
“The trustees could and did make loans to individuals carrying
interest with scheduled repayment dates.”
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This could be easily resolved if SDM (or associate) were to publish the details of each and every player who received an EBT payment. How much? What was the repayment schedule? Who has paid what back?
Or what about details of one player as an act of faith?
Just one?
Anyone?
Just to lend some credence to your statement Sir David?
Pars Fan says:
August 6, 2012 at 20:37
5 0 Rate This
Be glad when all this is finished and we can move on to getting
rid of the old 11-1 vote that favoured OF and see a fairer share of tv money to all clubs.
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I agree iro the voting structure. But lets see this thing finished first.
Now bear with me here….just suppose SDM is telling the truth.
Loans were applied for from individual EBTs and given, interest charged and eventually the loans are repaid. Where does the cash then go?
What provision was made for the money thereafter? What must the Trustees do? Does the money revert to the original benefactor? Or does it just sit in some dusty offshore bank account? We are talking multi-millions.
Have the creditors a future call on these sums as they are apparently loans that will be paid up at some point?
According to SDM RFC stopped EBTs at the end of 2010 when they became ‘tax inefficient’.
Can the creditors claim that money has been wrongly taken out of the business over the past few years on the basis of supposed loans that are never to be repaid? The BBC claims documentation exists to support this contention.
/ Red Lichtie
Another question David
If the EBTs were really vehicles for loans which have to be repaid, they would not be subject to tax or NI
So, why are you trying to justify their use as a vehicle for tax evasion ?
After all you idiot, as an employee, you only pay tax and NI on earned income, or has that escaped your notice ?
Can someone tell me who David Murray is representing with his speech?
This is the guy who would only sell if the buyer was right for Rangers, then ended up “duped”.
His “not on my watch”, will not wash. Is he trying to say that this all happened in the years when he was not Chairman?
More pedantry, and a long time and lots of effort choosing the correct wording has gone into this statement.
I take it, it was a statement and not an interview?, not that it would matter, no one will ask the big questions.
Jim says:
August 6, 2012 at 19:09
Rate This
The Paper Boy says:
August 6, 2012 at 19:04
>> Sir David Murray denies cheating took place during his time at Rangers.
He would say that, wouldn’t he?
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Minty Rice-Davies?
/ Red Lichtie
That is a blast from the past, I was a “paperboy” when the Profumo affair broke in the press, (I was unable to deliver as early as stunney) the MSM then, was shall we say “deferential” but the “new media”in the shape of That Was The Week That Was, was not. Their parody of the music hall song, She was Poor but she was Honest, pointed a finger at the Profumo rumours, which the MSM , had been sitting on for months.
Marilyn “Minty” Rice-Davies indeed.
Sorry for straying off topic but history has a habit of repeating itself.
RTC pointed a finger at the Scottish MSM, but there is more to know.
Some on here may already have read Nick Davies, Flat Earth News.
“An industry whose task should be to filter out falsehood has become a conduit for propaganda and second hand news”
It certainly shows how the MSM operate, and how to counter their “misinformation”. It should be compulsory reading for all “Internet bampots/ cowboys.”
The drivel of the past 24 hours must mean that the tribunal is imminent……within 2 days i’d say. Enjoy it now…….it will be beautiful
Bigrabbit says:
August 6, 2012 at 20:58
‘Marilyn “Minty” Rice-Davies indeed..’
—
Good call. ( I thought her name was Mandy, though.Oldtimers kicking in again, I fear)
TW3 really was ground-breaking stuff, in the days when TV political journalists addressed Home Secretaries and such like as ‘ Sir’, as in ” Is there any little bit of information you care to give us, Sir? No? Thank you, sir, sorry to bother you”. Bit like the succulent lamb brigade’s approach to SDM, come to think of it.
Scotland Behave says:
August 6, 2012 at 16:28
20 1 i Rate This
“Since 2001 when the EBT scheme was introduced, the amounts contributed were disclosed in the audited financial statements of the Club. These audited accounts were provided to the SFA and SPL as required”.
Audited Accounts!?? really David ??
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The fact that such “disclosures” have been made in the “audited” accounts is a total irrelevance and (-S)DM knows it!
This would have been covered in a “letter of representation” to the auditors, Grant Thornton, from the directors of RFC. Grant Thornton, if merely to cover themselves, would have made the directors of RFC fully aware of the risks involved in such an aggressive tax avoidance scheme and the possible outcomes if ever HMRC were ever to challenge the amounts in question.
Purely on a point of law, (-S)DM and the directors of RFC cannot look to the auditors in order to prove, one way or another, that the EBT scheme was perfectly administered ( which is was not!) and that it was fully compliant with UK tax law (which it was not!)
This is a classic case of a drowning man clutching at straws…or in blogging terms…” a big boy did it and ran away!”