Good Evening,
Whilst it is understandable that the continuing events at Ibrox remain a hot topic among all Scottish Football Fans — especially given the views of some sections of the press on such events– the never ending rush down the marble staircase is certainly not the only show in town.
The other morning we were treated to the “scoop” that Alistair Johnstone is afraid that Craig Whyte– the once proclaimed Multi Billionaire from Motherwell- may well still be pulling all the strings at Ibrox! This is a fear which is shared by those who walk the corridors of Hampden Park as they, too, are terrified of the prospect of Whyte returning in some shape or form and coming back to haunt them, especially as he has been deemed unfit and proper, banned sine die, and generally ridiculed for his past actions.
However, the Hampden jackets know fine well that their realm only stretches so far and that if by means of the proper application of company law, contract or some other piece of paper Whyte controls the shareholding of the self proclaimed “parent company” to the football club then they are in a fix. In fact, I will wager that they just would not know how to deal with such a situation as after all RIFC PLC neither holds a licence to play football nor is a member of the SFA and so, on the face of it, who owns it has nothing to do with them.
At this juncture, no one in authority knows who Blue Pitch Holdings are and, strangely, no one in authority knows who Margarita Holdings are either! Yet these two “holdings” whoever they may be, may well hold all the power down Govan way…… with the SFA completely powerless to find out who they are let alone get into any dialogue with them. All the SFA can do is talk to the appointed Directors and officers of The Rangers Football Club Ltd.
This, is a most unsatisfactory state of affairs.
Meanwhile, they will have no difficulty in finding out who the new shareholders of Dunfermline Athletic are. Those shareholders will come from the fanbase and will be clearly registered at Companies House, with the result that ultimately those fans/shareholders will appoint Directors who will then attend meetings and speak and opine on their behalf and in essence be the ” Voice of Dunfermline” at Hampden.
Perhaps, similar will follow from Heart of Midlothian?
However, those at Hampden — if they have any sense at all– will be most wary of events happening in the east end of Glasgow come November.
In the middle of the month, Celtic PLC will hold its AGM and amidst the items on the agenda is the fan driven notion that the Club— through its Directors—- should go further in holding the SFA to account and enquire into the granting of club licences, and in particular how it granted Rangers a club licence that allowed entry to the Champions League in 2011 when the small tax case was outstanding.
The Celtic board have deemed this motion as “Unnecessary” and in support of that contention have released documentation showing that they raised this very issue with the SFA on behalf of the shareholders and fans. Further– and here is the rub— The Directors reveal that they were not satisfied with the SFA response and have disclosed that they took the matter further and wrote to UEFA.
Ultimately, UEFA also provided a reply, which backed the SFA approach and which Celtic had little option but to accept in the absence of admissible contradicting evidence..
It is on this basis, that Peter Lawell and Co say the AGM motion is not necessary. Note that saying that the motion is not necessary, is not at all the same thing as saying that what the motion seeks to achieve is not necessary or does not have the support of the board!
There will be those at Hampden who severely hope that the Celtic Board are successful in voting this measure down as obviously they deem their original reply sufficient and would like to end the discussion there.
However, my own view, is that whether the motion is successful or not, there are those within the SFA who will recognise there is trouble staring them in the face here. Real Trouble!
Let’s recap for a moment and draw some threads together.
Celtic’s past Chairman, Dr John Reid, said only a couple of years ago that the SFA was clearly not fit for purpose. He did so in the context of events surrounding Neil Lennon and other matters, but was unshakably robust in his condemnation of an institutionalised uselessness which he saw pervaded the Hampden ranks.
Prior to that, Henry McLeish produced a report which stated that he too had concerns about the Governance of Scottish Football and called for openness and transparency.
In the intervening period, we have seen Mr David Longmuir, former Chief Executive of the Scottish Football League, find himelf without a position following reconstruction– and this partly as a result of club chairmen being apparently kept in the dark about his payment, bonuses and expenes. I understand that there was considerable anger from some at the way in which they had been treated by Mr Longmuir.
Then there is Mr Campbell Ogilvie, El Presidente, who himself benefited from a Rangers EBT and who held sway at Ibrox during a period of time when Rangers– by their own admission— made unlawful and illegal payments to three high profile players in breach of tax laws and SFA/SPL rules. It is these breaches and the consequent Wee Tax Bill which has caused all the angst among Celtic fans and has lead to the highly regulated legal step of tabling a motion at the club’s AGM.
Basically, the position seems to be, that as at the due date when the appropriate documents and declarations were made for a Euro Licence by Rangers for 2011, the wee tax bill was outstanding and due. If it was overdue, then the SFA could not and should not have granted them a licence……. and potentially Celtic should then have been put forward as Scotland’s representatives in the Champion’s League.
However, that did not happen, and Ranger’s were granted a licence– something that the Celtic Directors clearly felt was not correct.
They may have disagreed with the awarding of the licence because there were those at Rangers at the time who declared that a payment to account had been made to the tax office– allegedly £500,000– and that they had entered into an agreement to make payment of the balance by instalments. Had that been so, then all would have been hunky dory and no more would have been said.
Alas, however, no such payment appears to have been made at all, and no such agreement was entered into and so, on that basis, the tax bill was overdue and outstanding as at 30th June in terms of Article 66 and as such no Euro Licence should have been granted.
However, the argument does not end there.
Auldheid, has posted frequently on these pages about the ins and outs of the licensing provisions and the mechanism and so I will leave that detail to him as he is far more expert in these areas than me.
Now, one of the SFA functions is to have an auditor– someone who can check books, contracts, paper work and so on, and it is part of the SFA licensing function to be satisfied that all the paperwork is of course correct and in proper fashion before they issue any licence.
In this case, it is alleged that the SFA did not perform their function properly.
In relation to the wee tax case, it is said that either they did not make sufficient enquiry of Rangers re the payment to account or the agreement which they were told was in place. At the time it was mooted in the press that no such agreement was in place as at the relevant date ( June 30th ) and a simple check with the revenue would have shown the truth of the matter.
Yet, for whatever reason, no such check appears to have been made, and if you recall a Radio Scotland interview with Alistair Johnstone, Rangers submitted the forms, the SFA replied with one or two enquiries about the BIG tax case which were answered, and thereafter the Licence appears to have simply dropped through the letter box without further ado.
You will also recall that the existence of the wee tax case became known BEFORE Craig Whyte bought David Murray’s shareholding in May 2011. In fact it was the subject of News Paper headlines weeks before the deal was completed, and so the fact that there was a wee tax bill was well and truly in the public domain.
When it came to filling in the appropriate forms,either, the SFA were mislead by those then at Rangers with regard to that tax bill, OR, they simply failed to do the requisite checks and make reasonable enquiries before they issued the licence.
However, the uncomfortable fact also remains, that one of the chaps who must have been in the know re the admittedly unlawful and offending side letters, contracts and payments to the three players concerned was Campbell Ogilivie who was on the Rangers Board at the relevant time when the contracts and irregular payments were made under the Discount Options Scheme from 1999 to 2002/3. Indeed he may even have initiated the first payment to Craig Moore in 1999. I reiterate that no one has ever contested that this was an unlawful scheme, and the irregular payments and paperwork are not denied in relation to that scheme.
There are Celtic shareholders who believe, rightly or wrongly, that when it came to the granting of the Euro Licence, the SFA did not play them fair on this occasion and that the wheels within Hampden were oiled in such a way that Rangers were favoured and Celtic were disadvantaged. It is a point that looks to have already been considered by the Celtic Directors in 2011, with the result that they concluded that they should formally write to the SFA and seek clarification.
However, we now have the prospect of those same directors having to go back to Hampden and say ” Sorry, but I am forced to bring this up by my shareholders. I have a legal duty to them to enquire further”. Even if the motion is refused, the point has been made– there are shareholders who are demanding answers– just as shareholders of other clubs demand answers about the ever so secret 5 way agreement and other matters which have hitherto been not for public consumption.
The SFA have nothing to fear of course as they can simply repeat their previous answers,demonstrate that all was above board, and rest easy in their beds.
Except that answer did not satisfy the Celtic Directors on a previous occasion as they decided to take the matter to UEFA, and it would appear that some Celtic shareholders remain dissatisfied with the known stance of the SFA and so they want the Directors of the club to delve further. Without wishing to point out the obvious, if it turns out that the 2011 Licensing process was somehow fudged and not conducted rigorously or that those at Hampden were in any way economical with the truth or omitted certain details from the previous explanation, or covered up a failure in procedures—- well such omissions have a habit of becoming public these days whether that be through the internet or otherwise.
The point here is that the actions of Hampden officials are coming under organised, legal and planned corporate scrutiny over which they have no control. The Blazer and club mentality that was once so widespread within the governing bodies is under increasing attack and is being rendered a thing of the past.
In short, the move by Celtic shareholders, is making it plain that they will demand proper corporate governance from their club in ensuring that any alleged failure in corporate governance by the SFA or SPFL is properly investigated and reported on.
Of course, if it turns out that the 2011 Licensing process was somehow fudged and not conducted properly for whatever reason, then it could be argued that Celtic were disadvantaged in monetary terms along with other clubs who may have been awarded Europa League licences, then the consequences could be cataclysmic. Hence a tendency to circle the wagons rather than admit to failures in the process that need addressing.
It is this reluctance to come out and accept that the licensing process appears to have failed, say at what point the process failed and what needs to be done to address those failures that in many ways has driven the resolution. It is clear to all that something is amiss but the SFA will not admit it, probably from fear of the consequences of doing so? Perhaps some form of indemnity, a lessons learned enquiry with no prejudice might help?
It would come as no surprise to me at all if there were those at Hampden who live in dreaded fear of admitting that their processes were flawed and that a grave mistake was made. Under these circumstances, there may well be those at Hampden who simply wish that Celtic and their fans would just go away!
Does anyone know exactly when today the RST are unveiling the names of the real people behind Blue Pitch and Margarita? I’m guessing that all we’ll get are the names of discreet lawyers in far away locations.
john clarke says:
October 25, 2013 at 11:21 am
That was my cue,BigGav, for a quick email to Halliday, of the Scotsman
——–
Well done, John.
Just a small point of detail – the new club and member of the SFA is TRFC Ltd (formerly Sevco Scotland).
RIFC plc is the holding company for the new club (just as Wavetower was for the old one).
Follwing up Charlottes latest original deal information…which I am sure is genuine
https://twitter.com/CharlotteFakes3
I checked out Aidan Earley in Companies House and lo and behold……..CHAD EDMUND……………………………Obviously I have not included his address in detail. This action took me one minute! When is somebody from MSM or anywhere going to take this seriously. We are not internet bampots….look at the genuine information being sourced, due diligenced etc on this site….MSM etc enough is enough…get on with it!!
Go Back to Results List of Last Enquiries Search
——————————————————————————–
Name: AIDAN CHAD EDMUND EARLEY
Nationality: BRITISH
Latest Address: ***************
***************************
LONDON
Postcode: KT3 ***
Click HERE for details of other addresses registered at Companies House for this person.
yakutsuki says: (107)
October 25, 2013 at 7:11 am
http://www.dailymail.co.uk/news/article-2396373/Drugs-mule-hope-British-grandmother-Lindsay-Sandiford-saved-swap.html
Hypothetical question. If this was a choice between saving the Granny or taking the mans cash to “save” the club what do you think they would go for ? TU for save the Granny and TD for take the mans cash. It’s a difficult one because they are both criminals 😆
100BJD says: (90)
October 25, 2013 at 11:37 am
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Did you take a stroll down Kerrydale Street first? 😉
GJ I think you had every right to refer to the link seen as the issue was raised in the papers . I would add however that it happened a long time ago and I’m sure there were many within the Ibrox support who were not happy. He who is without sin can cast the first stone as they say and I’m not getting at you there, that is aimed at all supporters from whichever club that use abusive language.
I had to TD my own post there, The Granny would be shot, nae doubt about, awe the poor granweans. 😆
neepheid says: (876)
October 25, 2013 at 11:31 am
Does anyone know exactly when today the RST are unveiling the names of the real people behind Blue Pitch and Margarita? I’m guessing that all we’ll get are the names of discreet lawyers in far away locations.
………………………………….
Here is a guess at the names..
Mr. Micheal Mouse
Miss. Anna Sthetic
Mr. I.P straight
Ima Fixer
Yura Mug
Craig Whyte
You can rest assured the if it is the RST that are releasing the names….then they will have been provided the most respectable names they could possibly get away with….for a fee..
Let me make the gross assumption that no SFA or League officials ever look at this blog. Let me make the further assumption that MSM, with a couple of notable exceptions, don’t look in, or having done so don’t have the wit to understand what’s going on.
Now, can I ask are there people here who are forwarding the info or posting hard copy of the info to the SFA etc? Can they otherwise deny knowledge of the info?
“The Scottish FA has received all necessary information and documentation from Sevco Scotland Ltd, including details of the company structure, shareholders, financial projections and business plan.”
Not a word from the SFA since 2012 regarding the details of “shareholders”.
http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=1848&newsID=10252
RST appear to have an account of yesterday’s Q&A with McColl on their web site but only available if registered.
Anyone got access?
More likely they will be names that appeal to the hard of thinking in the support….
I think I will start a book….how may multi billionaires?
1 – even money
2 – 2/1
3 – 10/1
4. off the radar comment 1/2
Irony of ironies……..Inverness Muslim Community are in the process of purchasing the Ex-premises of the local Sevco supporters club in Portland Place. The Inverness true Blues supporters club (in keeping with their Govan parent company) was closed last year after accruing £270,000 of debt due in UNPAID TAXES and mortgage arrears!
The local Muslims Association have put plans in place for Scotlands first Eco Friendly mosque and have consulted with the charity “Keep Scotland Beautiful” on how the renovations to the building should progress! You couldnae make this up!!
Mohammed Idris who is a local GP and member of the Mosque states” Muhammad teaches the importance of keeping the Earth “GREEN” and we want to do our bit, so we will install Solar panels. Hopefully the new building will bring us closer to the Community in the city. ”
Good Luck to the Muslim community on success of the project.
Paulmac2 says: (751)
October 25, 2013 at 12:12 pm
More likely they will be names that appeal to the hard of thinking in the support….
I think I will start a book….how may multi billionaires?
1 – even money
2 – 2/1
3 – 10/1
4. off the radar comment 1/2
=================
Hello,my name is Black,can I have a pony on No 3.
TallBoy Poppy says: (108)
October 25, 2013 at 11:54 am
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100BJD says: (90)
October 25, 2013 at 11:37 am
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Did you take a stroll down Kerrydale Street first
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No but I will…….this all confirms my longstanding position that Craigiebhoy was in the Chico deal and shafted
Raman Bhardwaj @STVRaman 3m
Dave King says he is utterly convinced both the SFA and the city would ratify any potential position on to Rangers board.
Been on hols and catching up. Can’t believe how little comment there has been on the e-mail from Aidan Earley to Rafat! Other than one poster asking the question ‘Nuclear?’, I didn’t see a single comment on it. Is this because we don’t believe it to be genuine?
If this is proof that Rafat was/is involved, why does no one care?
I was looking for some information on Joe Lewis and ENIC and the dates of when he purchased and then sold his shares in TRFC Plc when I came across this. It was published in The Herald:
………………………………………………………………..
Rangers’ millions grow fast
By Simon Bain
Friday 24 January 1997
THE millionaires on either side of the £40m Rangers deal made some more money yesterday. Reclusive tax exile Joe Lewis is about to buy 11 million new shares in Rangers at £3.60 a share. But Rangers shares were trading yesterday at £5.55.
That means Mr Lewis’s company, Albany, is already sitting on a potential paper gain of £21.6m. Rangers chairman David Murray is about to buy five million shares in Mr Lewis’s English National Investment Company (ENIC) at £1 each. But ENIC shares were trading at 172p last night. That gives Mr Murray’s company Murray International Holdings a notional gain of £3.6m. And when Mr Lewis sells the Rangers shares from Albany to ENIC, he will get £16m in ENIC shares – priced at 83p or less than half yesterday’s value, giving him another £15m profit.
……………………………………………………
If you scratch my back then……………..
nawlite says: (180)
October 25, 2013 at 12:42 pm
If this is proof that Rafat was/is involved, why does no one care?
____________________________________________________
It’s what I was getting at in my redetin says at 12:09 pm .
Are people forwarding this info to SFA or to any other authority?
Tic 6709 says: (494)
October 25, 2013 at 12:29 pm
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Paulmac2 says: (751)
October 25, 2013 at 12:12 pm
More likely they will be names that appeal to the hard of thinking in the support….
I think I will start a book….how may multi billionaires?
1 – even money
2 – 2/1
3 – 10/1
4. off the radar comment 1/2
=================
Hello,my name is Black,can I have a pony on No 3.
%%%%%%%%
Luckily Ian Black isn’t involved with TRIFC, and TRIFC isn’t a football club!
Raman Bhardwaj @STVRaman 20m
King: ”I’m back in Scotland for a series of confidential meetings to establish the best way to take Rangers forward”.
I wonder if one of these meetings will be with the SFA, they like everything to be confidential.
There was an interesting article in a recent edition of Tax Journal in which two seasoned commentators remarked –
“Those familiar with the EBT litigation in the Murray Group case will be aware of the unusual outcome of the FTT, which included a detailed dissenting judgement which stood in stark contrast from the majority decision….”
Hmm, that will be the dissenting judgement from the overseas female accountant in stark contrast to the judgement of the 2 male, “Murray-contemporary”, Edinburgh lawyers then. Why the surprise?
It’s coming down the track and what was a relatively academic Court of Session verdict in the AAM case the other day – who actually pays the tax? – signals the end for the corpse and MIH in the FTT come next Spring.
It really is an appalling waste of taxpayers’ money that this farrago is being proceeded with – a six figure sum expended on a corpse. Justice must not only be seen to be done, it must be seen to be believed as Private Eye famously remarked (ad nauseam)
54 to 0
nawlite says: (180)
October 25, 2013 at 12:42 pm
4 0 Rate This
———-
It’s not all exactly pristine information. Mr RR was mentioned on the CF audio releases in hushed tones. The interesting bit (well, it’s all interesting) was the exclusivity thingy. If that letter is genuine it could almost seem as though D&P were being coached by the Green-Whyte group on how to proceed.
The incredible thing is how Charles of Normandy managed to get folks to buy into Sevco, his purchase of history, the ‘saving Rangers out of liquidation’ nonsense, and not least his ability to milk so many of so much in return for so little.
Dr Octopus @SirBartin 16m
Minutes of RST meeting with McColl http://www.therst.co.uk/qa-summary-of-meeting-with-jim-mccoll/ …
Expand
Surprise Surprise, no mention of the secret investors. I thought they promised transparency?
At the same time as the man who would be King was shafting the SA economy out of 10s of millions,which could have helped the people,he was sitting at Ibrox wearing his tie and blazer.Watching a team who’s owner(s) were shafting the British Taxpayers out of 10s of millions.He was totally responsible for the SA fraud,and responsible for the dereliction of his duties as a NED at Ibrox.
The hypocrisy is mind boggling.
Danish Pastry says: (1601)
October 25, 2013 at 1:18 pm
Not sure I agree, DP. The fact that Rafat was involved, agreeing sections of the document etc, surely means that the SFA would have to bin them if they believe it is genuine (and make a report to Interpol, of course!). If the MSM believe it, they must act. This is SO important which is why I’m confused that posters on here aren’t all over it like a rash.
The stuff you mention about the fools (all of them – MSM, fans, SFA etc) falling for CG’s ‘same club’ bull pales into insignificance if Rafat is indeed involved.
“Making such high profile (that’ll be high wage then) appointments will they believe gain further support from the major financial institutions invested in Rangers.”
So no lack of cash or threat of admin then, a detailed plan (too detailed to share with plebs like you) to get us back to “the pinnacle” if only we were given just a little bit more of your, and their, but certainly not OUR money the jobs a good un. ps add in a ManU quote for effect.
The question is can the Green/Whyte consortia be arsed taking them to the cleaners again, or do they slip off into the distance. My guess is actually the latter which from the blue corner (and in case of any doubt – stop laughing – that includes the MSM and SFA) is good. On day 1, hour 1 that is. By hour 2 they’re already, what, £3000 down with no apparent intention of addressing the point. And I aint no hedge fund manager!
EDIT: which brings us back to the eternal triangle. CG can retire to Normandy any time he likes. Common logic dictates CW should still be on the hook to Ticketus so maybe can’t, rather than won’t, walk so quietly.
http://news.stv.tv/west-central/245532-dave-king-says-no-issues-with-sfa-or-aim-over-rangers-role/?utm_source=twitterfeed&utm_medium=twitter
Rangers oldco investor Dave King claims he “knows for sure” his newco board appointment would be ratified by authorities despite his tax convictions.
The South Africa-based businessman flew into Glasgow Airport on Friday to hold meetings with the current Rangers International Football Club plc board after it was previously announced he was due to take up the position of chairman.
Mr King told STV he would not have travelled to Scotland to hold the discussions over taking up a role at Ibrox if he had not received an indication that his convictions would not impact on his appointment.
Earlier this year, Mr King settled a long-running dispute with the South African Revenue Service and agreed to pay it £44.75m after admitting he owed income tax and had contravened tax legislation by failing to provide correct information about incomes earned over a number of years.
The payment agreement was reached as an alternative to an 82-year jail term for 41 terms of breaching the tax legislation, while the revenue service also agreed to drop prosecutions over fraud charges in relation to his business dealings.
Mr King, who is executive chairman of Johannesburg-based MicroMega Holdings, spoke to STV in relation to whether the financial and footballing authorities would approve of his appointment.
He said: “I wouldn’t be here (in otherwise. I’ve checked this fully with the relevant people.” The businessman added he “knows for sure” that regulators would approve his appointment and his legal team had contacted them to confirm there would be “no issues” with it.
He added: “I’m back in Scotland for a series of confidential meetings to establish the best way to take Rangers forward. I’m here to see if I can get rid of the disharmony at boardroom level and between the board and the fans.”
The Scottish FA does not administer a fit and proper person test but does follow illustrative guidelines against which Mr King’s appointment would be measured. This will include looking at his previous convictions and his role as a director of Rangers oldco, which went into administration last February.
AIM London Stock Exchange regulators will also assess his appointment against details of Mr King’s previous involvement in the insolvent Rangers oldco, as well as his tax convictions.
On Friday, Mr King also told STV he was in Scotland to see if he could assist in a “fundraising exercise” for Rangers International.
Finance director Brian Stockbridge and non-executive director James Easdale are the only board members left at Rangers International after a number of departures in the past year, including those of chief executives Craig Mather and Charles Green.
Opposition shareholders, backed by businessman Jim McColl and Rangers oldco director Paul Murray, took a successful court action against the company to prevent it holding its planned annual general meeting on Thursday in order for it to consider the appointment of new directors.
Danish Pastry says: (1601)
October 25, 2013 at 1:18 pm
“The incredible thing is how Charles of Normandy managed to get folks to buy into Sevco, his purchase of history, the ‘saving Rangers out of liquidation’ nonsense, and not least his ability to milk so many of so much in return for so little.”
=====================================
I guess it depends on your interpretation of ‘incredible.’
If its “massively successful in maintaining the same club sans debt competing as high as possible, in blatant disregard of the rules” then I am in full agreement.
His role is keeping this on plan should not be underestimated, and certainly well rewarded. It also explains why I will be surprised if he now wants the hassle of turning Sevco over at this stage with a land grab down Govan way. But then I maybe underestimate the big Yorkshireman. Every pounds a prisoner lad…
redetin says: (236)
October 25, 2013 at 12:49 pm
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nawlite says: (180)
October 25, 2013 at 12:42 pm
If this is proof that Rafat was/is involved, why does no one care?
____________________________________________________
It’s what I was getting at in my redetin says at 12:09 pm .
Are people forwarding this info to SFA or to any other authority?
—————————————————————————————
Could be that folk are thinking – we’ve been here before… Why bother…
Would anybody in authority want to see it never mind read it…
Would it no just be filed in the ever expanding ‘in’ folder on the big desk.
From the McColl meeting minutes :
“There is a very positive view of Rangers in the City and the relative value gap between for example Manchester United and Rangers was perceived to be considerably less than the current relative values of the businesses. Likely changes to football in Europe and North America over the next few years are likely to benefit a big club such as Rangers.”
From today’s “Sun” :
“Manchester United are close to agreeing a world record £300m five-year kit deal with Nike. It will triple the annual amount they receive in the current deal with the sportswear manufacturer.”
So “…the relative value gap between for example Manchester United and Rangers was perceived to be considerably less than the current relative values of the businesses.”
Aye, right!
Scottish Football needs a cure for delusions of grandeur.
nowoldandgrumpy says: (741)
October 25, 2013 at 1:50 pm
>>>>>>>>>>
Earlier this year, Mr King settled a long-running dispute with the South African Revenue Service and agreed to pay it £44.75m after admitting he owed income tax and had contravened tax legislation by failing to provide correct information about incomes earned over a number of years.
The payment agreement was reached as an alternative to an 82-year jail term for 41 terms of breaching the tax legislation, while the revenue service also agreed to drop prosecutions over fraud charges in relation to his business dealings.
<<<<<<<<<<<<<<<<<
In other unrelated news, Al Capone's estate has finally settled it's long running dispute with the USIRS, an insider said:
'Al's reputation has now been cleansed, his descendant has agreed to forget about the jail sentence and the g-men have agreed to forget all the about the tax evasion, gun-running, extortion, protection, bribery of public officials, illegal importation of alcohol, assaults and murders. They did get a bit touchy about Al having Sean Connery whacked but we saw him again in 'The Rock' with the same accent.'
An IRS insider replied:
'Al Capone was one of the most dangerous criminals in modern America. His reputation belies the scale of the mayhem and destruction he wrought on the people of Chicago especially. We understand that he has passed the SFA's 'fit & proper person' test.'
Obviously it goes without saying that there is no comparison or similarity between Al Capone and anyone involved in the current production of 'The Shambles II, Craigie's Revenge'
Official Statement – Posted on October 25, 2013
Meeting – Attendees – Jim McColl, Malcolm Murray & Paul Murray plus representatives from Rangers Supporters Trust, Rangers Supporters Association, Rangers Supporters Assembly and NARSA – Clyde Blowers – East Kilbride 4.00 24/10/2013
Paul Murray gave a brief introduction on why the group represented had come together and Jim McColl listed a number of serious concerns they all shared about a lack of corporate governance and financial transparency. The purpose of the meeting however was to afford the representatives of the fans groups the opportunity to get answers to specific questions.
Questions had been collated under 3 Core Themes
•Immediate Issues
•Future Plans, Investment and Operations
•Fan Ownership
Immediate Issues
The perception that amongst the fans groups represented is that there is perhaps 50% general support for the group and 50% who at this time are not :
The hosts were asked to tell us a bit about their team and why fans should support each?
Paul Murray and Malcolm Murray briefly explained their backgrounds much of which was seen as commonly known. The other 2 people nominated for Board positions were spoken about:
Alex Wilson
•Has a wide ranging skill set in Human Resource Management and Industrial Relations
•A history of working with very senior people at a number of Blue Chip organisations
•Extensive experience in managing operational changes at large organisations
•Alex has multiple season tickets for Ibrox and has been a long term fan
•Would be invaluable in building a new organisation and structure at Rangers
Scott Murdoch
•Has a major interest in property management
•One of the largest portfolios in UK
•Major involvement in the London market
•Also operates in New York & Hong Kong
•Has been London based for 25/30 years
•Scott has been a lifelong Rangers fan
•He has extensive commercial contacts in a number of global brand companies
At this time the hosts were asked to comment on the question of securing Ibrox Stadium and Auchenhowie and if they would consider an asset lock on them?
They confirmed they would take steps to do that – this would entail consultation with the shareholder base. They spoke about Rangers Directors being bound by a constitution established to do just that and to also constrain future Boards from for example borrowing beyond agreed levels.
The Financial Position – there were lots of questions on this:
•Have you a current view or a plan to do a detailed health check?
•How serious a threat do you consider there is of Admin 2?
•Do you envisage a short-term need for refinancing and how will you deal with it?
•Are you for or against resolutions 9 & 10 and why?
•Would you deal again with Ticketus?
The hosts have detailed views on financial issues but their main concern is to create a structure at The Club led by a quality CEO. They have identified and had discussions with a suitable candidate who they believe would work with them. They have also targeted a highly credible Head of Finance.
Making such high profile appointments will they believe gain further support from the major financial institutions invested in Rangers. They are satisfied that this will help in securing further investment if and when required. The business will have a very credible executive management who will not only look over the recent past forensically but implement robust business and financial plans.
The football operation will be able to focus on developing the team and on the field performance.
It was the group’s view that there is no real likelihood of a further administration nor did they see any issue over short term financing.
Resolutions 9 & 10 are not hugely unusual but at this time they agreed with the questioners that this was not appropriate for Rangers.
Ticketus are not part of any future plans.
AGM –
It was stated that Rangers fans generally feel they have a lack of information from all sides and again a number of specifics were posed:
Have you had recent dialogue with any of the other main parties and do you envisage any of them being involved in the future?
Daniel Stewart – yes in trying to speed up the AGM process and they are still trying to progress this. Paul Murray stated that AGM could be held somewhere other than Ibrox and has someone willing to pay for an alternate venue.
The current Executive Directors of Rangers – not recently
Dave King – yes and meetings are planned over the next few days. Nothing specific has yet been agreed with him.
Martin Bain – Paul Murray has a business relationship with Martin but the group have no intention of inviting his involvement with Rangers
Mike Ashley – not recently
What do you think about the possibility of shares being suspended?
Jim McColl suggested that such an action if taken by AIM would only be to protect shareholders
What are your views on the date of the AGM?
Disappointed that since the Court of Session ruling it seems that the current Directors are trying to delay it – they would like it to be held as soon as proper governance would allow.
Future Plans, Investment & Operations Plans
Members of the Rangers support many of whom are shareholders are rightly concerned to be comfortable with plans going forward and a series of questions were raised in this respect:
Have you considered how to deal with and can you share your thinking on matters like
•Scouting
•Maintenance
•Operational budgets
•Media & PR
Will you examine contracts entered into on such as Security, retail and catering – will you share your findings?
Yes on both counts but that will be part of the detailed implementation of agreed business plans. The Club has suffered of late from the lack of proper plans and not having a scouting network for example. It may not be appropriate to report every change implemented by the executive management of The Club. One of the key responsibilities of a CEO will be to examine and renegotiate any contracts that are not to his satisfaction in serving the best interests of The Club.
Have you identified and can you share info on potential future investors?
There are a number of prospective investors. The Institutions have indicated future support if a suitable structure is put in place. A number of individuals are considered prospective investors under the same pre-requisite.
How do you propose to get The Club back to the pinnacle of Scottish Football and playing competitively in Europe – do you have a timescale? What differentiates you and your 5-year vision from the current Directors?
Establishing a strong management structure that gains respect and support from the market will be the first critical step.
Fan Ownership
There were a lot of questions on this topic a lot of questions on this:
•Have you already considered this issue in detail?
•Will you publically back a fan ownership scheme – a 50+1 deal?
•What timescale would that be likely to take?
•Will you work with supporters to develop this concept?
•Will you also show a care of duty to supporters like Borrusia D?
•How quickly if/after you are elected will you devote serious reported efforts to this end?
The intention is firmly to work towards proper fan involvement. All three of the hosts confirmed their support for this. The nitty gritty detail needs to be addressed but a future shareholder structure where Financial Institutions, High Net Worth Individuals and Individual Fans and Fans Organisations all had significant holdings would be welcomed. The group would canvass the support for input before anything was implemented.
There is a very positive view of Rangers in the City and the relative value gap between for example Manchester United and Rangers was perceived to be considerably less than the current relative values of the businesses. Likely changes to football in Europe and North America over the next few years are likely to benefit a big club such as Rangers.
The way German football was completely restructured over 10 years demonstrates that massive change takes time.
Nobody wants or supports extensive borrowing by The Club – that model has clearly and consistently been proved to be a seriously flawed one.
The group stated that they want to build trust between the Board and all of the stakeholders in The Club and they believe the best way to do that is by appointing quality people. They stated that doing that (and reiterated that they believe they have identified such individuals) ensures financial support will follow.
Close
Jim McColl, Paul Murray & Malcolm Murray stated that they have dealt with all sorts of blockages but that they have and will stick with their plans to introduce changes. They welcome future dialogue and involvement with Fans. They want to re-establish Rangers as the most successful Club in Scotland but to do it on a sustainable basis.
They want the AGM to proceed as soon as possible.
It was agreed that minutes of the meeting would be produced as quickly as possible – approved by the
Asking the questions the MSM are unwilling to do……….
Chi-Town Celt @The_Exiled_Celt 22m
@bbckennymac Anyone asking King regarding his meeting with Whyte/Green/Ellis in Zurich last year? That one was confidential too!
Sent to Tom English and Graham Speirs too………….
BigGav says: (54)
October 25, 2013 at 11:33 am
”..Just a small point of detail – the new club and member of the SFA is TRFC Ltd (formerly Sevco Scotland).’
—–
Yes, BG, thanks.
Ok stupid question time from me……..
Surely DK can join the RIFC board and not worry about the SFA since that company (or clumpany) has nothing to do with the club. The only board SFA have to worry about is TRFC (aka Sevco Scotland/Sevco5088) as that is the one that holds (some say improperly!) a license/membership for the SFA/SFL to be concerned about.
So if he joins the company that was formed last Dec and had the IPO, the SFA/SFL have nothing to approve since he is not on the club’s board.
Hence the confusion being purposely spread about club and company (hence clumpany).
However this would differentiate between club and company and may not be LNS/Bryson sanction….
This is the tightrope the SFA have made for themselves……….
Reminds me of the Abbot and Costtello sketch Who is on Third……………..
highfibre says: (6)
October 25, 2013 at 2:33 pm
================
Quite correct,he was not convicted of fraud,my mistake.
But he was and is a glib and shameless liar.
manandboy says: (304)
October 24, 2013 at 6:18 pm
This may well be OT, but I place it here in the context of the SMSM and the power they wield.
The man at the heart of the Grangemouth affair is Stephen Deans, convener of the Unite union in Scotland, who has worked at Grangemouth for 24 years. It was Mr Deans’ role as chairman of the Labour Party in the Falkirk constituency which landed him in hot water with his employer, the owner of Grangemouth.
But Mr Deans has disappeared from the media. You will not find Mr Deans being interviewed anywhere on TV or radio. Nor will you find an image of Stephen Deans in any newspaper or TV website, or even on Google images.
For people like us who are very interested in the workings of the media, the question is not why Stephen Deans has been cleansed from the media but who has made this happen. Someone in this country has decided that Stephen Dean’s picture will not appear anywhere in the UK media and I for one just think that it is important that we all should know who that someone is.
================================================================
I think as regards the individual it is OT but the points made about the media should be addressed.
A story and picture of Mr Dean appeared in the Daily Mail yesterday which I saw with my own eyes and one of my mates with an interest in Grangemouth told me this morning that he had been down south yesterday and read a story about Mr Dean in English print editions of the Daily Telegraph and The Times and at least one of them had a pic of Mr Dean.
I would also state that you err in stating that: ‘ It was Mr Dean’s role as chairman of the Labour Party in the Falkirk constituency which landed him in hot water with his employer, the owner of Grangemouth.’
The owner of Grangemouth instituted disciplinary proceedings against Mr Dean in his capacity as a Grangemouth employee and I believe the disciplinary decision was to be announced today although perhaps both union and management might wish to postpone it in view of the still delicate situation at the plant.
It may well be that Mr Dean, the Labour Party and Unite have no wish for Mr Dean to be interviewed because of the shambles surrounding the selection conference and they will be wanting IMO absolutely no further publicity on what was a very murky situation in the reselection process.
I regularly attack the SMSM for their failings but I truly believe they haven’t airbrushed Mr Dean out of any story. He obv iously would be foolish to make any comment while subject to a disciplinary process from his employer and I think that Unite and the LP will also want to let sleeping dogs lie.
Where I would attack the SMSM over the Grangemouth story is that the hard-nosed management say the complex is losing £10 million a month but not one single Scots journo has actually asked, that I am aware of, how much the company will save per month on a wage freeze and pension changes.
I very much doubt if it will cover a fraction of the £10 million alleged loss. But that is just par for the course in terms of the uselessness of the SMSM.
That ‘Fit & Proper’ Test in full:
1. Have you ever been involved with SDM?
a. No
b. Yes
c. Yes, and I’ve got the debt to prove it
d. Yes, how does he sleep at night?
e. I am SDM
2. Have you ever been involved in a company with ‘Rangers’ in the title?
a. No
b. Yes
c. Yes, but no one knows
d. Yes, all of them
e. Not sure, does SFA count?
3. Which word best describes your business methods?
a. Dodgy
b. Shady
c. Fly-man
d. Spiv
e. All of the above
4. Which word, in your view, best describes the average football supporter?
a. Sincere
b. Mug
c. Certifiable
d. Cash Cow
e. Infinitely gullible
5. Which word/phrase best describes the Scottish Media?
a. A dedicated and selfless group of individuals who cannot rest until the truth is told.
b. An incestuous coven of some of the most despicable people who will do anything to fill a page
c. Your conduit to putting one up a commercial rival.
d. A profession which wears the badge of ignorance with pride.
e. People who have even more contempt for the average supporter than you do.
6. Which statement best describes the SFA, in your view
a. Dedicated, honest, transparent.
b. Easier to fix than a two piece jigsaw
c. Bureaucratic fiddlers who bend/break the rules for their own ends
d. If they visit your house, you count the spoons
e. The biggest bunch of misfit chancers to ply their trade since The James’ Gang got theirs.
What’s your view on social taxes?
a. It allows for hospitals/schools etc and the country needs them to function in a civilised way
b. A bloody nuisance
c. They’re for everyone else.
d. Never ‘eard of ’em!!!!!!
e. I’m too wealthy to pay them.
Did you pass?
Mostly ‘a’: It’s people like you who spoil it for everyone else! Geddoutttta Here!
Mostly ‘b’ Welcome home Dave!!!!!!
Mostly ‘c’. Wait ’til you’re papped by the SFA Campbell
Mostly ‘d’ Craigy?!! No! Not after the last time! (Give it six months)
Mostly ‘e’ Your place for the cutlets?
http://i.imgur.com/Wvse3xE.jpg
ecobhoy says: (2024)
October 25, 2013 at 3:13 pm
_______________________________________________
Ecobhoy, Glad to see you back in action
Bawsman says:
October 25, 2013 at 2:26 pm
Official Statement – Posted on October 25, 2013
Jim McColl listed a number of serious concerns they all shared about a lack of corporate governance and financial transparency.
…
It was the group’s view that there is no real likelihood of a further administration nor did they see any issue over short term financing.
——-
There seems to be a contradiction here.
How can they know what the true financial position is if there is no transparency?
Bawsman says: (220)
October 25, 2013 at 2:26 pm
Official Statement – Posted on October 25, 2013
…
Questions had been collated under 3 Core Themes
•Immediate Issues
•Future Plans, Investment and Operations
•Fan Ownership
…
There is a very positive view of Rangers in the City and the relative value gap between for example Manchester United and Rangers was perceived to be considerably less than the current relative values of the businesses. Likely changes to football in Europe and North America over the next few years are likely to benefit a big club such as Rangers…
====================================
Perhaps being pedantic, but shirley the fans should have simply focused on the real, immediate issues ?
The agenda enabled the straying into ‘moonbeams territory’ with e.g. the above reference to the City, ManU etc.
Or maybe McColl and co. are just astute at ‘knowing their audience’ : just tell the fans whatever they want to hear to get what you want ?
That’s my Friday, cynical input for the day. 🙄
Making such high profile appointments will they believe gain further support from the major financial institutions invested in Rangers.
There are a number of prospective investors. The Institutions have indicated future support if a suitable structure is put in place. A number of individuals are considered prospective investors under the same pre-requisite.
—————————————————————————–
Nobody at the meeting asked MCColl et al if they are putting their OWN money into the club ?
A basket case that is Sevco is still attractive to “major financial institutions” ?
Really ?
So much for “once bitten, twice shy”.
“Likely changes to football in Europe and North America over the next few years are likely to benefit a big club such as Rangers.”
This is the same old squit that Green was forever spouting. Plus ça change.
Meanwhile, before the inception of the invitation-only GLOBAL SUPER LEAGUE, TRFC don’t raise enough revenue to meet their costs. Despite having 500m fans worldwide, they raised approximately the same amount of cash in season ticket sales as my own club: lowly rural, provincial NCFC.
As “the glib and shameless liar” knows to his cost the South African Reserve Bank has strict exchange control regulations in place. The following refers to overseas investments:
……………………………………………………….
Capital transactions
6.1 Foreign investment by South African residents
6.1.1 Private individuals (natural persons)
Authorised Dealers may allow private individuals (natural persons) who are taxpayers in good standing and over the age of 18 years, to invest up to a total amount of R4 million per calendar year, for investment purposes abroad, but, prior to the transfer of any funds, a duly electronically completed “TAX CLEARANCE CERTIFICATE (IN RESPECT OF FOREIGN INVESTMENTS)”, issued by the South African Revenue Service, must be presented to the bank.
…………………………………………………………………………
NB ‘authorised dealers’ is the term used for banks or foreign exchange dealers who can send money abroad.
I doubt that Dave can now be described as a ‘taxpayer in good standing’ so who in South Africa has given him the OK to take funds out of the country to invest in RIFC Plc. Or will it, like last time, be his Mum who holds the shares.
EDIT: 4 million rand = £252,108 at todays exchange rate.
tearsofjoy says: (31)
October 25, 2013 at 3:39 pm
Nobody at the meeting asked MCColl et al if they are putting their OWN money into the club ?
A basket case that is Sevco is still attractive to “major financial institutions” ?
Really ?
So much for “once bitten, twice shy”.
=============================================================================
The same goes for King:-
On Friday, Mr King also told STV he was in Scotland to see if he could assist in a “fundraising exercise” for Rangers International.
Once again back to the Dragon’s Den where one of the first questions from the potential investors is usually
“How much time, effort and your own money have you put into this project?”
The two standard responses are usually
1)that the pitcher has put nowt in and therefore why should the dragon part with their money
OR
2)The pitcher has put in plenty but the proposal is doomed so why throw good money after bad.
As discussed previously the Easdales only appear to have put money into the hands of the spivs but at least we know they have some shares.
Everyone else seems to be trying to be smart with other people’s money. That then means the club will still be at the mercy of various unknown institutional investors.
While I appreciate they don’t want to give money to the Spivs, when supposide Sugar Daddies like King and McColl appear very wary about stumping up cash or even indicating the possibility of future investment things are really in the grubber IMHO.
Good question Charlotte…why copy one investor? Equally I have never seen a supplier given such information until after board approval which would be needed for this sort of commitment. Unless Charliebhoy just says it and it happens. Shocking corporate governance again. I hope the remaining directors are taking advice regarding all these so called supporters conferences/briefings etc. Daniel Stewart will be on overtime with this lot!
http://t.co/Ha8lWZNlQ2
slimshady61 says: (273)
October 25, 2013 at 1:02 pm
Those familiar with the EBT litigation in the Murray Group case will be aware of the unusual outcome of the FTT, which included a detailed dissenting judgement which stood in stark contrast from the majority decision….”
Hmm, that will be the dissenting judgement from the overseas female accountant in stark contrast to the judgement of the 2 male, “Murray-contemporary”, Edinburgh lawyers then. Why the surprise?
======================================================================
I attended a recent tax conference, (again!) and a young tax barrister, apparently specialising in such EBT cases, attempted to rubbish the judgement of Dr Poon, whom he could not bring himself to name… well she is after all not only a woman, but an accountant!
He tried to ridicule her main view that “in order to see, what was going on, you have to ignore the facts…” (my précis)…which is what is called for here…what were they really trying to do with these EBTs?
Mr Thornhill, who also addressed the conference, was to me a little more circumspect on the outcome of the UTT, but expressed concern that some three weeks had been allocated to it…stating HMRC was really going to be trying in this one.
I scent victory for HMRC…but as per Slimshady’s comments, almost irrelevant in the case of this dead corpse, disgrace as it is.
However, I would say: EFL clubs…be afraid…very afraid…Hector will be out walking your way next May…!
essexbeancounter says: (305)
October 25, 2013 at 4:14 pm
EBC – why not send your young barrister a copy of the Court of Session judgement from AAM on Tuesday. 37 pages of excoriating comment on the tax avoiding actions of a company that is, as the Ibrox corpse was, meant to be one of the institutions that underpin the greatest little country in the world?
To precis, if it looks like a sham/duck/tax avoidance scheme, and it sounds like a sham/duck/tax avoidance scheme, and it walks like a sham/duck/tax avoidance scheme, and it avoids tax like a sham/duck/tax avoidance scheme, then the chances are….
With hindsight of course it is lamentable for us as taxpayers that counsel for HMRC conceded in the FTT that the loans were not a sham when in fact to the ordinary guy in the street they were and remain precisely that.
Has one penny been repaid since the FTT concluded? I doubt it.
Will one penny ever be repaid? There is more chance of Dave King failing the F&P test.
I for one will be finding time in my busy schedule next March to pop round the corner and watch the car crash that will be the UTT.
I wonder if Murray or any of the other interested parties will try to come up with an excuse around that time that he & his fellow borrowers may be at risk from “angry Celtic fans”, the preposterous notion advanced by those who should have known better, and accepted by the 2 Edinburgh lawyers comprising the majority of the “meek as lambs” FTT, prior to its convening back in 2010 – so as to prevaricate/obfuscate and generally hinder the process of justice in this country?
If the UTT stretches into April, its end may coincide nicely with “Admin 2 – Still Dead” , starring Ford Keirnan as Jack Irvine and Greg Hemphill as BetVictor.com
RE nawlite at 12.42pm:
I agree the release by CharlotteFakes3 of that email showing Rafat Rizvi negotiating directly with Aidan Chad Edmund Earley about the “fakeover”- and then suggesting that someone tell Chuckles Green – is pretty sensational and lays bare a key part of the birth story of the Sevco spiv-fest.
However, the date on the email is May 4, 2012, and it was eight days later that Green announced he’d come to a binding deal with the administrators.
I assume there must have been some changes to the game plan in those eight days. What those were will take a wee bit longer to emerge.
However, what appears to have been clarified is:
1. Up to May 4 Whyte and Earley were negotiating directly with Rafat Ali Rizvi and sundry other apparently foreign investors for a loan to buy Whyte’s shares and pay off Duff and Phelps.
2. Imran Ahmad was on Rizvi’s side of the deal.
3. Green was Rizvi’s front man. Rizvi had hired him as Chairman of Nova Resources, then replaced him with Chris Morgan – who has also been touted for a director’s role at FC Spivco.
4. Rizvi is certainly involved in the current FC Spivco Group and appears to be giving orders to Green, Ahmad, Stockbridge and Morgan.
5. Whyte and Earley’s involvement can be tracked up to May 4. They were clearly key shareholders in Korissa and other names mentioned as Sevco 5088 shareholders. An earlier leaked minute of one of the first RIFC board meetings appears to show Green saying that investments in Sevco 5088 transferred directly to Sevco Scotland. Did ALL of them transfer over though? If so, Whyte and Earley have a considerable stake in FC Spivco. The only other clue to their involvement has been the recently revealed links between the RIFC nomads Daniel Stewart and Whyte’s notorious Merchant House Group.
6. Either way, the SFA should have called FC Spivco to task long ago. But they haven’t. Because they don’t want to. Why? Ask the President.
Reading the minutes of the Sevco fans meeting with McColl and Murray. They may be proposing a new board, but the breathtaking arrogance that has permeated the boardroom at Ibrox for decades seems as strong as ever. To even mention Man Utd is testimony to that. Worse still, 90% of media poodles will be rushing to print it.
Sickening, absolutely sickening.
Can’t help but feel that protesting about Kings involvement is pointless in so far as what will be will be as long as Campbell agrees it.
What remains the key issue for me is the mechanism that King feels money (preferably not his) can be safely injected with the existing shareholders in support. On what basis will these major institutions stump up the cash when common investor logic tells you this one should appear in the chapter that comes after the one headed ‘BARGEPOLE’
On a separate but linked note Charlotte seems awful keen to pull down the present board and leave what my Mum calls an awfae mess that we’ll all be delighted to find there’s a saviour with a board and funding all ready begorrah! Its a bit like telling anyone who will listen or keenly provide airspace that BDO are about to call in the spivs for a doing. Different method. Apparently same result.
Just saying.
nickmcguinness
The mere whiff of Rafat being anywhere near this scandal should have had ,Interpol ,SFO,BDO,HMRC,SFA and the whole of the MSM all over it like a rash .
The fact that it is not even being mentioned by any of the above is utterly astounding .
Even on here it doesn’t seem to be nuclear but then again between RTC and here ,after all we have learned in the last two years ,nothing would surprise any of us .
nickmcguinness says: (139)
October 25, 2013 at 5:02 pm
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RE nawlite at 12.42pm:
I agree the release by CharlotteFakes3 of that email showing Rafat Rizvi negotiating directly with Aidan Chad Edmund Earley about the “fakeover”- and then suggesting that someone tell Chuckles Green – is pretty sensational and lays bare a key part of the birth story of the Sevco spiv-fest.
However, the date on the email is May 4, 2012, and it was eight days later that Green announced he’d come to a binding deal with the administrators.
I assume there must have been some changes to the game plan in those eight days. What those were will take a wee bit longer to emerge.
However, what appears to have been clarified is:
1. Up to May 4 Whyte and Earley were negotiating directly with Rafat Ali Rizvi and sundry other apparently foreign investors for a loan to buy Whyte’s shares and pay off Duff and Phelps.
2. Imran Ahmad was on Rizvi’s side of the deal.
3. Green was Rizvi’s front man. Rizvi had hired him as Chairman of Nova Resources, then replaced him with Chris Morgan – who has also been touted for a director’s role at FC Spivco.
4. Rizvi is certainly involved in the current FC Spivco Group and appears to be giving orders to Green, Ahmad, Stockbridge and Morgan.
5. Whyte and Earley’s involvement can be tracked up to May 4. They were clearly key shareholders in Korissa and other names mentioned as Sevco 5088 shareholders. An earlier leaked minute of one of the first RIFC board meetings appears to show Green saying that investments in Sevco 5088 transferred directly to Sevco Scotland. Did ALL of them transfer over though? If so, Whyte and Earley have a considerable stake in FC Spivco. The only other clue to their involvement has been the recently revealed links between the RIFC nomads Daniel Stewart and Whyte’s notorious Merchant House Group.
6. Either way, the SFA should have called FC Spivco to task long ago. But they haven’t. Because they don’t want to. Why? Ask the President.
——————————————————————————————————————————————-
Nick,
I agree with most everything you have said except the comment about the eight days from email to offer. I think that the important date is the incorporation date for Sevco Scotland which was 16th November 2012. Charliebhoy became a director on 4th December 2012. Plenty of time to change the Sevco 5088 plan. Whyte in my opinion was a fundamental part of Sevco 5088 and was shafted by Imran in the area of the novation to Sevco Scotland of the 5088 exclusivity agreement with the Duffers. This equity position was Whytes part of the original deal probably. As long as he had the shares he could call the shots. I am not sure what Whyte, apart from a bit of jiggery pokery with the £500k “investment” in Banstead Athletic has actually got out of this deal financially. He needed to participate and profit in the new deal as all the other “founder shareholders” have.
I think Grier, SDM, MBB etc are no fools and knew the business, as sold to Whyte, was doomed from day 1 and therefore planned accordingly. Let the business fold by CVA or liquidation and use the shares to get on the new vehicle. This is what Whyte and co do……..but he got done.
Dave King is comfortable with what he is proposing
because he knows all the ‘players’ talk his language
and play his game.
The badge means nothing.
They’re all in it for the money.
Fans, what fans?
With Dave, there are no ‘fans’ ,
only mugs.
With regards the sevco rebels and the supporters meeting .
Why did no one ask ……. So guys you are telling us you have many willing investors lined up ,where were you and these investors when
a. the club was sold to CW for £1 and £18m bank debt ( small change to some of you guys )
b. when the whole shebang was sold to CG and the spivs for a mere £5.5m ( loose change to you guys )
That my friends is IMO the whole crux of this complete and utter scam .
Unsustainable debt had to be jettisoned , any sold off revenue streams written off and HMRC had to be got rid of ,pure and simple and this bunch of absolute chancers have the gall to DEMAND the rest of Scottish FOOTBALL fans call them the same CLUB .
Just have a look at who was round that table today with the Supporters and look who they are trumpeting is on his way on the next jet .
If it wasn’t for the REAL SCOTTISH FOOTBALL SUPPORTERS these charlatans would be having their cosy wee discussion today firmly placed in the SPFL .
If HMRC ,BDO allow this to happen then the game is up and the rest of us mugs would be off our heads to pay any sort of tax again .
Just listened to
DK when he stated that in his mind there will be no problem with the FPP status regards the SFA (stop laughing at the back ) and the city .
Then they turned to M Guidi and he went on to announce the snippets he took from the Q&A session last night .All positive moonbeam snippets read out (no mention of running the new (or newer) club within it’s means .
Then he rounded it off with a GUSHING fantasy of DKs plan when he waltzes up the marble staircase .
According to (no)Mark DK has said ,enough is enough and I am coming in to sort the whole mess out and raise MILLIONS AND MILLIONS of investment for the club .
I kid you not .
Funny how these pathetic hacks can somehow find their voice when they are spouting moonbeam stories for any entity that masquerades as the old dead Ragers
bit disappointed that there’s no orange strips mentioned.
should’ve got the checklist from chuck.
Scott Murdoch. I would ask quite a few more questions about his CV. Based on the information publicly available, it appears to have been “sparkled” up more than a little. In the interest of “helping to provide transparency” I suggest the following , as the information provided tells you absolutely nothing. His track record as a director is littered with loss making and failed business’
•Has a major interest in property management- I would ask in what capacity, what are the financials surrounding this.
•One of the largest portfolios in UK – Again , does this refer to his employer or to ownership in his name .
•Major involvement in the London market. – What does this mean. The area manager of BT in Clerkenwell has a major involvement in the London market, but it means nothing in terms of substance
•Also operates in New York & Hong Kong- Again, no detail, has the look of being thrown in for effect
•Has been London based for 25/30 years- So what
•Scott has been a lifelong Rangers fan – Relevant
•He has extensive commercial contacts in a number of global brand companies- So do hundreds of Sales managers , it means nothing at this stage
Frankly I wouldn’t be so hard on the likes of Guidi. They know what they are doing. Telling the truth doesn’t sell papers. Much better to spin a line to the idiots who are hoping for good news and make it last as long as possible. When the doo doo hits the fan you can just repeat the same nonesense over and over in the knowledge there are folks who will lap it up again and again. Easy money for the MSM. 🙂
Again we have the BBC Sportsound team doing everything to deny that King was convicted. “He came to a settlement” etc etc.
Even English must have been warned off, because he had nothing to say about King’s disgraceful law-breaking in South Africa
A beautifully scripted little episode, which sadly, or so it seemed , involved Richard Gordon.
They are disgusting in their complicity and/or yellowness.
Why are they so afraid to state the simple facts drawn from the court records of S.A.?
From LNS.
“The Tax Tribunal has held (subject to appeal) that Oldco
was acting within the law in setting up and operating the EBT scheme. The SPL presented no
argument to challenge the decision of the majority of the Tax Tribunal and Mr McKenzie stated
expressly that for all purposes of this Commission’s Inquiry and Determination the SPL accepted
that decision as it stood, without regard to any possible appeal by HMRC. Accordingly we
proceed on the basis that the EBT arrangements were lawful.”
If the UTTT find in HMRC’s favour and declare that EBT’s were not lawful, then it would be fair to state that everything LNS has based his decision on could be considered null and void. Would there be another inquiry with regards to sporting advantage and title stripping? I’d like to think so. If so who would be the driving force behind revisiting the decision? SFA, SPFL?
Barcabhoy says: (246)
October 25, 2013 at 6:41 pm
‘…Also operates in New York & Hong Kong- Again, no detail, has the look of being thrown in for effect..’
——
The effect it has on me is to make him even more an object of suspicion, I fear.
Don’t know the man, of course.
Wouldn’t want to know him, because you can judge a man by the company he keeps ( or wants to work for!)
ratethisthenyabampots says: (75)
October 25, 2013 at 7:07 pm
‘..the SPL accepted
that decision as it stood, without regard to any possible appeal by HMRC. ‘
—–
The devious McKenzie made sure that he cut any route to appeal by in effect accepting the FTTT’s decision as final and conclusive..
Although stupid in many ordinary ways, some of these guys have the innate cunning of Beelzebub, a bit like Bryson.
WHAT IF ……….
1. A football club owner ,realised his hubris at the club had led to an irretrievable situation .
2. He tried to find a buyer to take it off his hands
3. All the peepil were scared off by the threat of Hector
4. He set about getting rid of that threat
5. He brings in a man who seems to specialise in overseeing failing businesses fail
6. There is one problem his supposed wealth is off the radar ,so there needs to be a funding solution
7. The funding for the plan has to come from the club supporters but they have failed to dig deep on previous occasions, so they have to come up with a plan were the supporters fund the plan but do not realise it .
8. Problem solved as they find 13 faceless peepil
9. Next problem ,what if the MSM look into the new buyer (they all laugh ) don’t be silly that’s not a problem
10. So they now have the funding (to be paid for by the fans over 4 years ) and a CL licence assurance should bring in enough revenue to finance the day to day running .
11. OOPS Sally blows it and there is going to be a shortfall of many millions to get to seasons end
12. The wealth off the radar ,now has a big problem as the supporters will expect him to just get his cheque book out and make up the shortfall from his loose change .
13. Exposure is unavoidable as the money runs dry ,he is about to throw in the towel and liquidate mid season but after dinner with a couple of friends ,he is told he can’t liquidate till the close season as planned
14. So he uses the tax money to get to the end of the season
15. New problem ,his lack of wealth off the radar is exposed and as a consequence the supporters learn of his deal regards the tickets and there is no way they will buy a single seat while he is there ,Also there are 13 angry men out of pocket
16. The seat buying plan is now out and is dead in the water ,like the club
17. New solution ,bring someone else in to get as much money back from the tribute act ASAP before the supporters realise where it is going .Adopt an unsustainable business model to ensure another insolvency event ,heap all the debt onto the holding company then liquidate it leaving millions in losses
18. Put the club into admin and sell to the original buyers approached years before who were scared off by Hector
19. I would have ended with a buy and leaseback or liquidate the club and leave the holding company with the assets but the managers backing in the time of need (ST uptake) and then the ex managers backing (IPO) ,also the buses live too close to home not to be on the (soon to be ) new owners side .
I could very well be wrong but if the rebels just walk right into place ,I could very well be right .
john clarke says: (1291)
October 25, 2013 at 7:26 pm
Although stupid in many ordinary ways, some of these guys have the innate cunning of Beelzebub, a bit like Bryson
————————————–
I think we shouldn’t underestimate the intelligence shown by some of the main players in putting together (and putting into effect) various complex plans, and managing to subvert the apparent shoddiness of various regulatory systems in the process. Mind you, we shouldn’t underestimate the moral bankruptcy of many of them either. A mix that might be charming in a caper movie, but a kick in the teeth when you come a cross it in real life.
The information I was offered last week accords with the lack of panic wrt any possible insolvency event.
McColl is very much a Rangers man – this much I know for myself – but he is an accountant first, and – apologies to accountants – consequently a tightwad. He will not throw money onto a bonfire for anyone, but he does have a sense of history and it appeals to him as a fan to be “the man who saved Rangers”
Like all Rangers men though, he is aware of the expectations of the fans and will be trying to lower the bar as much as possible since he has a realistic view of how TRFC’s future needs to pan out in a fiscal sense.
Least likely to say, “Get ma chequebook!”
Aside from McColl, the “Rangers men”, even the most professional and “hard bitten” in the business sense, cannot suspend the belief that Rangers NEED to spend big and REQUIRE access to huge funds. Moonbeams on tap. They just don’t get it. The banks, over the last few years (almost ten in fact) have been deleveraging football clubs. Clubs like Celtic, Dundee United and Aberdeen have been shrinking their debt to a place where it is sustainable. Before David Holmes, football clubs in Scotland didn’t get into long term debt. However post-Holmes, they all followed the Tick Wagon, many to the point of administration, a couple to the point of liquidation.
No matter the newclub/oldclub argument, for the banks it is dead simple. TRFC is a new company engaged in football. They get no credit – no matter who is at the helm. They just won’t lend to football clubs. McColl understands this, but Murrays M and P don’t. Rangers sustained breath-taking losses on the basis of tax avoidance loopholes which have now been closed, tax evasion and non payment, and David Murray’s ability to “persuade” banks and other organisation to cough up readies for his vanity project.
Malcolm Murray and Paul Murray see the emergence of big investors with long arms and shallow pockets. Reality just doesn’t square with that world view. The worry for Rangers fans is that with this mind-set, history is sure to repeat itself in ever quickening cycles. The worry for the rest of us is that the sense of self-entitlement that has brought our game to its knees has not gone away.
Whilst Scottish football has been (with staggering success) repairing itself, those who will not learn the lessons of the past are readying themselves for another bout of train-wreck self-aggrandisement and collective delusional fantasy. And those who should know better, many of our clubs, almost all of our MSM and our football legislators are standing on the sidelines egging them on.
Just been watching Mr King on the news there re-iterating his desire to become involved in a “fund-raising exercise”.
Remind me how much cash was apparently raised less than a year ago?
It seems to be overlooked by bearkind that a certain large amount of money has been utterly skittered away for one fourth division title and half of a third division one. The very need for a “fund-raising exercise” has become accepted.
Once again they will part with their cash. Pockets will be filled on broken promises yet again. “Loyalty” to a brand is a wonderful thing to your average money-grubber. They come from around the world to take advantage of this “loyalty”. Crooks come out of the woodwork, fresh from disgrace, and the “loyalty” guarantees another payday for them. It beggars belief, really it does.
I refer the honourable bears to the lyrics of R J Dio once again:
They say that life’s a carousel
Spinning fast, you’ve got to ride it well
The world is full of Kings and Queens
Who blind your eyes then steal your dreams
…it’s Heaven and Hell, oh well
And they’ll tell you black is really white
The moon is just the sun at night
And when you walk in golden halls
You get to keep the gold that falls
It’s Heaven and Hell
No, no – fool, fool!
You got to bleed for the dancer!
Fool, fool, look for the answer!
Fool, fool, fool!
The hypocrisy is on the part of the SFA and the Scottish MSM, Tic, not on King’s part. He’s an unashamed crook!
Rangers oldco investor Dave King claims he “knows for sure” his newco board appointment would be ratified by authorities despite his tax convictions.
The South Africa-based businessman flew into Glasgow Airport on Friday to hold meetings with the current Rangers International Football Club plc board after it was previously announced he was due to take up the position of chairman.
Mr King told STV he would not have travelled to Scotland to hold the discussions over taking up a role at Ibrox if he had not received an indication that his convictions would not impact on his appointment.
Earlier this year, Mr King settled a long-running dispute with the South African Revenue Service and agreed to pay it £44.75m after admitting he owed income tax and pled guilty to having contravened tax legislation by failing to provide correct information about incomes earned over a number of years.
The payment agreement was reached as an alternative to an 82-year jail term for 41 terms of breaching the tax legislation, while the revenue service also agreed to drop prosecutions over fraud charges in relation to his business dealings.
Mr King, who is executive chairman of Johannesburg-based MicroMega Holdings, spoke to STV in relation to whether the financial and footballing authorities would approve of his appointment.
He said: “I wouldn’t be here (in otherwise. I’ve checked this fully with the relevant people.” The businessman added he “knows for sure” that regulators would approve his appointment and his legal team had contacted them to confirm there would be “no issues” with it.
He added: “I’m back in Scotland for a series of confidential meetings to establish the best way to take Rangers forward. I’m here to see if I can get rid of the disharmony at boardroom level and between the board and the fans.”
The Scottish FA does not administer a fit and proper person test but does follow illustrative guidelines against which Mr King’s appointment would be measured. This will include looking at his previous convictions and his role as a director of Rangers oldco, which went into administration last February.
A spokesman for the Scottish FA told STV on Friday they had no approach from King to be listed as a director, saying: “We have had no request from Rangers to amend their official return.”
AIM London Stock Exchange regulators will also assess his appointment against details of Mr King’s previous involvement in the insolvent Rangers oldco, as well as his tax convictions. Rangers International’s nominated adviser, Daniel Stewart and Company, would have to present Mr King to AIM for appointment.
Under stock exchange rules, should regulators have any questions about his suitability to be a director, Daniel Stewart and Company would have to signal to AIM that it had carried out due diligence on Mr King before putting him forward as a board member of a publicly listed company.
The rules state the exchange would expect the nominated adviser to take part in “reviewing the director’s CV and testing such information” and to consider whether proposed board members “are suitable to be a director of a UK public company and consider the effect of the appointment on the efficacy of the board as a whole”.
On Friday, Mr King also told STV he was in Scotland to see if he could assist in a “fundraising exercise” for Rangers International.
Rangers investor Sandy Easdale confirmed he had met with Mr King on Friday but declined to reveal the outcome of that discussion.
Finance director Brian Stockbridge and non-executive director James Easdale are the only board members left at Rangers International after a number of departures in the past year, including those of chief executives Craig Mather and Charles Green.
Opposition shareholders, backed by businessman Jim McColl and Rangers oldco director Paul Murray, took a successful court action against the company to prevent it holding its planned annual general meeting on Thursday in order for it to consider the appointment of new directors.
essexbeancounter says: (305)
October 25, 2013 at 4:14 pm
‘….. well she is after all not only a woman, but an accountant!…’
——–
I seem to remember reading a transcript ( anybody?) which suggested that SDM was somewhat similarly dismissive of Dr Poon for reasons unconnected with her gender or profession.
Ps Nice to have you back,EbC
Nothing should surprise me anymore with Rangers and their Rosemarys baby. The unending toilet roll of characters that have shadier pasts than a man with a 10 feet wide cowboy hat, continues with the walking back into Dodge of Dave (dodgy) King. It is utterly laughable and equally lamentable that this character, off scene for a bit, while he sorts out a trifling issue in South Africa rides in to play the hero, rescuing the maiden from the clutches of the moustache twirling bad guys living it up in the saloon. I find it utterly galling yet so sadly true to form that King’s arrival has been with joy from the varied supporters groups and unquestioning articles hailing his return with little or no scrutiny as to his previous indiscretions that make Craig Whyte look like a upstanding citizen. He is a charlatan and a tax cheat. A rightful addition to the Ibrox crew but he should be as welcome to Scottish football as a dose of the runs in a Spacesuit never mind the proverbial fart.
The Rangers and King are truly deserving bedfellows but they deserve to enjoy each other on the outside of the Scottish game, they bring nothing but disrepute to it.
For King to make the proclamation, forsooth, that is what a King does, that he doesn’t anticipate any issue to his position on The Rangers board, it is either with the knowledge the SFA will do SFA about him or it is an outright challenge or dare to them to attempt it, given he has already been cosy with the Hampden players. We know the answer to both. Our game is rotten to the core of that there is little doubt. The Lying King would be self anointed as the answer to the blues prayers…he is not just more of the same, he is a spiv extraordinaire.
The Rangers support and the SFA should have no worries then…Hakuna Matata as they say in Disneyland.
Alex Wilson • Has a wide ranging skill set in Human Resource Management and Industrial Relations – Does he know about TUPE?
Alex Wilson • Alex has multiple season tickets for Ibrox and has been a long term fan – But does he have Rangersitis?
Alex Wilson • Has a major interest in property management – so do I, its called a mortgage
Alex Wilson • He has extensive commercial contacts in a number of global brand companies – so do I, Mars, Coca cola, Bacardi etc
It was the group’s view that there is no real likelihood of a further administration nor did they see any issue over short term financing – blinkered vision
Paul Murray stated that AGM could be held somewhere other than Ibrox and has someone willing to pay for an alternate venue – still got short arms and long pockets as history proves
One of the key responsibilities of a CEO will be to examine and renegotiate any contracts that are not to his satisfaction in serving the best interests of The Club – just like Craig and Charles then. Fill my pockets.
There are a number of prospective investors – do they pay taxes when it is due though? Are the squeaky clean? Do they have skeletons in the cupboard?
How do you propose to get The Club back to the pinnacle of Scottish Football and playing competitively in Europe – do you have a timescale? What differentiates you and your 5-year vision from the current Directors?
Establishing a strong management structure that gains respect and support from the market will be the first critical step. – what are the following steps?
Nobody ask about CF or Longmuir?
King met with Sandy Easdale
I would love to hear the audio of that discussion .
Tax doesn’t have to be taxing and all that