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!
Deal What’s right with ibrox you can have it if you want
ecobhoy says:
November 15, 2013 at 8:23 pm
… from what it appears we don’t have the full shareholding info from Sevco 5088 Ltd.
——-
Are you saying the information given in the AR is incomplete?
http://www.scribd.com/doc/184401452/2013-03-29-CH-Sevco-5088-AR01
If none of the eventual Sevco Scotland placements were ever shareholders in 5088 (even temporarily), what do you suspect is missing?
A landmark day indeed for Rory Bremner FC. Unless I’m mistaken, they have just had their first ever player earn a full Scotland cap 😛
Regards the latest reports in the MSM about the SFO and scotpol quizzing the boys in brogues .
It may just be me but they are pretty vague in their reporting as to exactly what is being asked of whom
I think it led with a story of CW being portrayed as the bad guy but if you look at the peepil being quizzed
MB.JI,A Mc ,they had only a fleeting relationship with CW but a much more long term one with a certain knight of the realm .
Why has smudger Smith not been quizzed if it is CW they are interested in
BigGav says: (75)
November 15, 2013 at 1:35 pm
ecobhoy says:
November 15, 2013 at 11:32 am
Of course we don’t know whether the investment cash was actually transferred to Sevco 5088 by either Korissa or Blue Pitch back in May 2012. From memory I don’t think Korissa appears in any of the listed Sevco 5088/Scotland or TRFCL shareholders although Blue Pitch is there and can be traced from Sevco 5088 to Sevco Scotland to TRFCL to RIFC Plc.
———
Korissa is listed as one of the original shareholders in Sevco 5088 (see easyjambo@10:43), but, unlike Blue Pitch, it does not appear on the list of pre-IPO shareholders of TRFCL thst was leaked recently (showing AMcC holding cert no 1). Conversely, it appears that Blue Pitch was never a shareholder of Sevco 5088.
Why was Korissa’s placement in Sevco 5088 not transferred to Sevco Scotland? If ‘Richard Barrington’ of Korissa is really CW, perhaps he never actually put up the money. Or was he simply deliberately cut out (‘shafted’) by CG?
=====================================================================
Actually Korissa has never been listed as one of the original Sevco 5088 Ltd original consortium in anything I have ever seen and today’s published Sevco 5088 Ltd Annual Return doesn’t state that either because the return doesn’t actually state when the shares were originally issued to Korissa but only that they were transferred from Korissa on 13 March 2013. As I said I have never seen Korissa listed as a member of the original investment consortium to buy the Rangers assets although it may well have been.
But as I explain below the Annual Return suggests that Willow Int held 5 million shares in Sevco 5088 Ltd on 10 May 2012 when it transferred them. We don’t know when these shares were issued by Sevco 5088 to Willow or what price was paid for them and we don’t know who they were transferred to. So we have to be careful in interpreting the Annual Return submitted for Sevco 5088 Ltd and take nothing at face value.
On the face of it it would appear that on 13 March 2013 Liberty Capital Markets Ltd and Korissa Capital Inc each transferred 5 million shares and no longer held any shares in Sevco 5088 Ltd as of the date of the Annual Return submission on 29 March 2013.
As of 29 March Law Financial Ltd held 10 million shares and it is tempting to assume that these were the shares previously held by Liberty Capital Markets Ltd and Korissa Capital Inc prior to 13 March 2013.
However on 10 May 2012 Willow Int transferred 5 million shares and again it is tempting to assume that these were transferred to Liberty Capital Markets Ltd and/or Korissa Capital Inc. However that would leave a shortfall of 5 million shares from the 10 million shares which were eventually transferred to Law Financial Ltd on 13 March 2013 – where did the extra 5 million shares come from?
We also aren’t told – which I believe we should have been – when all of the shares were first issued by Sevco 5088 Ltd to Willow Int., Liberty Capital Markets Ltd and Korissa Capital Inc.
So we have unanswered questions in the Sevco 5088 Ltd Annual Return.
But the biggest unanswered question is that according to the Sevco 5088 Ltd Annual Return is it would appear that Green has never been a shareholder in the company. I have stated this for several months and it’s nice to see it confirmed in the Annual Return although all succulent lamb must be taken with large piches of salt. The subscribing £1 shareholder for Sevco 5088 Ltd on 29 March 2012 was 7Side Secretarial Ltd and according to the Annual Return still is.
We have had various public statements by Green, including personal TV appearances, that he is the sole shareholder in Sevco 5088 Ltd which have been repeated by RIFC Plc on AIM and I believe from memory also on the Rangers AIM flotation document where it is described as a related party. But the public record doesn’t back-up these claims.
So if Green was never a Sevco 5088 Ltd shareholder and ceased to be a director in the company in May 2012 how comes he tries to dissolve it in December 2012 just after the Rangers flotation and how come in April 2013 RIFC plc claim on AIM that Sevco 5088 Ltd is a subsidiary company. All very curious – I will need to look and see whose name is attached to the AIM notification and responsible for it.
Of course it is possible that Green was/is a shareholder in Willow Int. This company which I assume is offshore transferred 5 million shares on 10 May 2012. I’m afraid the red wine has overtaken my thought processes but was the 9 May 2012 not the date of the 3-way meeting between CW, Green and Earley in London?
Lots to be figured-out yet and things are by no means clear but we have areas where more pointed questions can be asked.
http://www.footballcourier.com/news/story/2680990/sad-sevco-go-to-war-over-lawwell-joke.html
BigGav says: (75)
November 15, 2013 at 9:29 pm
ecobhoy says:
November 15, 2013 at 8:23 pm
… from what it appears we don’t have the full shareholding info from Sevco 5088 Ltd.
——-
Are you saying the information given in the AR is incomplete?
http://www.scribd.com/doc/184401452/2013-03-29-CH-Sevco-5088-AR01
If none of the eventual Sevco Scotland placements were ever shareholders in 5088 (even temporarily), what do you suspect is missing?
======================================================
I am saying that the AR info is incomplete and I will look at it in more detail over the weekend. Of course the Seco Scotland aka TRFCL AR is also incomplete and I don’t think it suits either spiv camp to see the unbroken line of shareholders for a variety of possible reasons.
But read my latest post just above which details my thought processa bit further. We know from the TRFCL October 2012 minutes courtesy of CF which Sevco 5088 investors became Sevco Scotland investors and subsequently TRFCL shareholders and ultimately RIFC Plc shareholders. Blue Pitch is one of those band.
But nowhere do we see Willow, Liberty or Korissa mentioned – afaik they only surfaced through CF leaks although I could be wrong about that.
And until we see the completed AR for TRFCL incorporating Sevco Scotland we can’t work out the correlation between Sevco 5088 and Sevco Scotland shareholders because as I have said – just because you were a Sevco 5088 investor doesn’t necessarily mean you were issued shares in that company.
Hope that makes some kind of sense 😆
Lawell, Celtic, the usual, “SSB says” not remotely interested.
Switcheroos shenanigans watching like a hawk
Court date announcements waiting waiting.
Eco
If that’s you deluged with the grand cru. Im giving up the plonk. Well summarised.
ianagain says: (33)
November 15, 2013 at 10:12 pm
Eco
If that’s you deluged with the grand cru. Im giving up the plonk.
=========================================================
Just drink more and see the light 💡
ianagain says: (33)
November 15, 2013 at 10:12 pm
Naw don’t!! Try Aldi Prosecco 😀
sickofitall says: (201)
November 15, 2013 at 9:17 pm
=========================
Deal, what sort of timescale ? I suggest 3 days.
This is going to descend into one of they whisky exchanges I used to have with Corsica vv the merits of wooded v unwooded Balvennie.
OK Jean Aldi Prosecco it is. With a wee half. 😮
Just for the record I mind having a wee too and fro with him as he said he was in his wee hot tub in wherever sipping a good malt. I do miss him.
Probably RTC days tho
ianagain says: (36)
November 15, 2013 at 10:24 pm
In the same glass? 😯
ParanoidWellFan says:
==============================
I think Ian Black won The Rangers’ first full international cap.
Iceland
=======
I read an interesting article at lunchtime in the WSJ about how Iceland’s national football team has improved significantly “as a result of ” the financial crisis.
The main rationale being that local youngsters where introduced / developed quicker – to replace foreign players that the local clubs simply could no longer afford.
Iceland’s FIFA ranking was as low as 112 in 2010 – and is currently 46.
But perhaps more importantly though, Iceland has a fighting chance of qualifying for their first World Cup finals after their 0-0 home draw against Croatia tonight.
So, can the SFA learn anything from Iceland, [population 320K] ?
Will anyone from the SFA show any interest ?
[ For balance, in the same period Scotland’s ranking actually improved from 52 to 35. Strachan has made an encouraging start so far – but the SFA must still do everything it can to ensure it’s not another 15 years before Scotland gets to a major finals, IMO. ]
WSJ
http://online.wsj.com/news/articles/SB10001424052702303789604579197851335630352
FIFA
http://www.fifa.com/associations/association=sco/ranking/gender=m/
Jean
Do think me a philistine?
A quick sip o the fizzy, put aside surreptitiously in order not to upset the missus. Followed by a large one.
await your wrath Jean but fizzy is birthday stuff best left to those who appreciate it .
Tif Finn says: (851)
November 15, 2013 at 10:43 pm
Yep, sorry, the dangers of the non-fizzy stuff on a Friday evening after a hard week
Oh, and can I just say, of all my ex-bosses, PL is currently my favourite 🙂
ParanoidWellFan says:
======================================
It was quite some time ago, you must be talking about the best part of a year, so it’s easy enough to forget.
Ianagain, I think we all miss Corsica. I liked his “And would you like another coincidence?” piece placing them all in Zurich airport, simultaneously by chance of course.
I was enjoying the back chat there on the merits of vino. Then it went quiet. Was everybody overcome?
In Vino Veritas 😛
jimlarkin says: (623)
November 15, 2013 at 7:25 pm
http://www.sportinglife.com/football/news/article/439/9027501/-?
Well done peter Lawwell – did he make a joke about the elephant in the room?
Check out the picture they’re using now. Only the ‘rangers’ part from the scrap metal gates at ibrokes!
Bring it on Pete.
…………………………………….
This is why they have never taken anyone to court over such comments or claims…they cannot and will not go to any court in the land on this subject…just as Rory Bremner would struggle at court to prove…”I am Tony Blair!
Funny how the club statement doesn’t decide to explain why they are the same club….but instead try to justify their Rory Bremner behaviour by pointing to the SFA and saying like a child …”but…but…but they said we are still the same club…am gonna tell ma da on you”…and throw in the unbroken 141 years as some sort of undisputable proof….
Rangers FC 1872 are in liquidation and are no longer playing football….SEVCO who changed their name in order to look like the same club are now known as THE Rangers who are a year old…
So Peter got it spot on….they are the Rory Bremner of Scottish football pretending to be someone else!
Well done Mr. Lawwell!…we are all Spartacus..
Eco, thanks for your earlier replies on the 5088 issue.
You say:
The simplest interpretation that fits the given data is to suppose that there are 10M shares in circulation, of which 5M were originally held by Willow and 5M by Korissa. Willow in May 2012 then sold/transferred their shares to Liberty, and subsequently all 10M were purchased by Law Financial from the two existing holders. (Alternatively, perhaps Liberty held 5M from the start, and Willow sold to Korissa instead.) In those scenarios, there is no extra 5M.
I agree we cannot know for certain since, as you explained, there is information missing that should have been given.
Below is the response in full from the team who play in light blue at Ibrox WRT Peter Lawells comment earlier in today’s CFC AGM.
““The Club are disappointed with the comments attributed to Celtic Chief Executive Peter Lawwell earlier today.
“Rangers Football Club, now in its 141st year, has a proud history which has been recognised by the football authorities and was noted in a recent SPL Commission determination.
“The Club will now take this matter up with the relevant football authorities.”
I don’t understand this at all. Rory Bremner does an excellent impersonation of Tony Blair. Quite wihy TRFC would want to have a pop at Mr Bremner at this time is beyond me.
In my opinion if they want to criticise a poor tribute act they should take a good look somewhere a bit closer to home.
Ps Jim Delahunt, in my opinion you were an absolute shambles of an anchor man tonight. Sitting between two men who were having a full on attack at Peter Lawell tonight you should have at least tried to show a bit of devils advocate and made some sort of defence from the CFC perspective. However you decided to join in the jamboree and shoot down in flames anyone who disagreed with the TRFC stance. You should be impartial and provoke debate when possible. Taking the firm stance that you did this evening is, in my opinion, disgraceful. Shame on you.
willmacufree says: (228)
November 15, 2013 at 11:07 pm
Ianagain, I think we all miss Corsica. I liked his “And would you like another coincidence?” piece placing them all in Zurich airport, simultaneously by chance of course.
I was enjoying the back chat there on the merits of vino. Then it went quiet. Was everybody overcome?
________________________________________________________________________
Will
I think that’s fair to say although I wasn’t aware of him passing away until his family (I presume) took up on his behalf (Stupid phrase isn’t it?
( I bet he blazed off somewhere like the Pot Still heaven branch).
And yes the Swiss airport convention (oh what a coincidence that was) was and always will be one of the moments that defines this blogs from others.
ParanoidWellFan says: (62)
November 15, 2013 at 11:28 pm
————-
If only that was true, a case or two to about three locations would solve the problems of Scottish football and our wee country.
Peter Lawell Comment
This is like comparing elephantitus to a mouse with a sore toe
i.e.
55m in the UK await Rory Bremner doing a decent Tony Blair impersonation
while
40k ST holders await TRFC doing a decent RFC impersonation
ecobhoy says: (2048)
November 15, 2013 at 8:23 pm
It is critical to understanding what went down here to see this info but I’m beginning to think only a non-scottish police investigation is capable of unearthing it.
—————————————————-
sorted that for you!
As someone on twitter said earlier- Sevco, 1 year of unbroken laughter!
November 15, 2013 at 11:34 pm
Paranoidwellfan,
I think Corsica68 is the NdP of the person who worked closely with Corsica. He is involved with various charities, and is exposing some illegal activities in his field associated with old and new clubs. You probably know that already.
Leaving aside the solid evidence that people like Ecobhoy, Barca, Bjd, Tallboy and others are putting together, there’s a mountain of circumstantial stuff building, like Corsica’s Zurich encounter. There’re legal guys on here I believe would have all that in an orderly pile on the floor as in all lawyers’ offices, nearly ready. Another Jameson for the road!
I hope the spivs win out so that there is an end to all the bluster, threats and denial.
http://www.dailyrecord.co.uk/sport/football/football-news/celtic-chief-executive-peter-lawwell-2795842
“The proposal was a call for the SFA to be reported to UEFA over its handling of the Ibrox crisis in 2012, when the Light Blues re-emerged in the bottom tier of Scottish football after their descent into administration and then liquidation.
However, Lawwell, who was unanimously voted back on to the Celtic board along with majority shareholder Dermot Desmond, said: “We spoke to the requisitions or a group of them beforehand and they were satisfied with what we had to tell them and agreed to adjourn it indefinitely.
“It is off the agenda for the foreseeable future. What was said will remain private.”
________________________________________
Hmmm…. This does read alot like ‘ Weesht!… Dinnae fash yersel! – We’ve got a hawd o’them SFA numptys by the baw-sack and wez gonnae squeeze when it suits us!’
Auldheid?
Would you be in a position to neither confirm nor deny that? “-)
Auldheid?
I see Sevco are emailing the bears with their 2013/2014 merchandise … possibly future collectors items , your chance to own the only football strip never to be worn in a competitive game, Its November 2013 no club has ever punted their new kit this early before. Gotta luv these spivs, squeezing the last drop from the terminally gullible before they piss off with all the profits. Will the berrs fall for this one last time ? …. oh I hope they do
http://e.rangers.co.uk/w0JETst5AexGCiK9ZAkXZbq8Eb2xtPDx~Vutpu7TR4Y/WebView.aspx
The Lawell thing is just another piece of boll=== from Jack.
Forget it.
The story is novated CW.
He will return.
Resin_lab_dog says: (241)
November 16, 2013 at 12:42 am
Here’s BRTH’s take on subject
http://www.celticquicknews.co.uk/?p=14148&cpage=8#comment-1995697
paulsatim says: (635)
November 16, 2013 at 1:11 am
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Resin_lab_dog says: (241)
November 16, 2013 at 12:42 am
Here’s BRTH’s take on subject
http://www.celticquicknews.co.uk/?p=14148&cpage=8#comment-1995697
__________________________________
Having read the comments from BRTH on the link, it seems that the correct approach is being taken and there are legitimate reasons for the confidentiality.
(And If CO coughs, PL will know probably about it “-) )
Pretty good article in The Herald. A bit of humour too. Having read BRTH’s piece, it would seem there’s been movement below the surface on a number issues for a long time
http://www.heraldscotland.com/sport/football/a-show-with-excellent-bottom-lines-and-some-strong-one-liners.22716734
Well the chip wrappers are claiming that Sevco have ALREADY ”reported” Celtic to the SFA.
I wonder if the churno’s will ask to see the documentation
– the complaint AND the response
Errm, didn’t think so !
The media, therefore the Peepul, will attempt to make a storm out of Peter Lawwell’s jibe re. Rory Bremner as a comical interpretation of Tony Blair akin to to the TRFC / RFC situation. It really shows what a pickle they’re in when this is what draws their ire.
Let me take you back 18 months when Rangers supporters exalted themselves to show ‘Liquidation the red card’. Well, that sure as hell worked a treat ! Every single fan of that club knew what was happening when their club – not a company – was going down the tubes- holding red cards up during a game just seemed the best way to stop it ?!! Our thanks and gratitude go to SDM, some fantasy European dream chasing, some very loose tax planning and some sprinkling of MBB wealth off the radar to finish the job exquisitely. The Rangers fans knew exactly what liquidation meant and only complete ignorance to ignore the basic irrefutable facts (unless you’re Chick Young) of what happened to their club remains. They have slept-walked into another club nightmare where quick talking, loud mouthed spivs have sauntered into the mire and with malice and forethought have played them a merry tune – on a flute, if it meant you bought a season book for the seasons biggest pantomime. Yet all we will hear for the next week, thanks to a Scottish media so wrapped up in an Old Firm concept that doesnt exist anymore, is that very bad man Mr Lawwell poked fun at ‘us’- the very people who used to be the Peepul.. Peter is the very least of your concerns. Your erstwhile board and their masters are laughing all the way to a Swiss Bank and at your expense. AGM or no AGM…it doesnt matter. While you get yer knickers in a twist at Mr Lawwell, the bags of swag are being emptied out of Ibrox and you will have no one else to blame but your sad, bitter recriminating selves. Maybe do something more constructive next time, with a new club…concentrate on making the right choices rather than being so anal you couldn’t pull a pin out yer backside with a tractor. Mr Lawwell had a playful joke at your expense…the reason it hurt so much is you know he’s right and there’s not a thing you can do to change it.
It’s a bitter pill to swallow right enough…wash it down with a large swig of humility and just a dash of contrition.
For a bit of light relief, all collected from here with one addition from Phil Mac Goilla Bhain
Rangers
Glasgow Rangers
Club12
Sevco 5088
RFC
Sevco Scotland
Rangers Football Club Ltd
The Rangers
Newco
Oldco
Rangers Intergalactic
TRFC
Rangers 3
Rangers Football Club PLC
Rangers International Football Club PLC
Rosemary’s Baby
RIFC
Tesco
Son of Rangers
I can’t believe it is not Rangers
The company that owns the company which bought the assets
The Rangers franchise
The Govan 5 stars
Scotland’s Shame
RFC(IA)
RFC(IL)
The Queen’s eleven
The Sevconites
The emperor’s new clothes FC
Satan’s Spawn FC
The Rangers tribute act
RFC (RIP)
Pretendygers
Charlie’s Ltd
Craig’s Retirement Fund United
Easdales Eagles
Sevco Rangers FC
The Honourable Society of Rioters and Window Kickers
Spivs Utd.
Crooks, conmen and liars PLC
Our Tangoed friends
Another FC
RFC 2012 PLC
Neo-Rangers
Third Rangers
Trigger’s Broom FC
Flamingo Land FC
The Govan Taleban
Dignity FC
Basket Case FC
The self preservation society
A team in Rangers colours
Titanic FC
Rory Bremner FC
54 names and counting…
jimlarkin says: (624)
November 16, 2013 at 8:06 am
Well the chip wrappers are claiming that Sevco have ALREADY ”reported” Celtic to Campbell Ogilvie.
…
Fixed that for you!
This was from an article in The Herald 28/6/2013
The Ibrox club were barred from voting in recent debates on the future of the Scottish game following their formation as a newco in the wake of last summer’s liquidation crisis.
New clubs joining the Scottish Football Association at that time were forced to serve five-year spells as associate members before they were given full voting rights.
But the SFA’s 93 member clubs voted to scrap associate memberships at the governing body’s Annual General Meeting earlier this month, meaning Rangers are now able to re-join the rest of Scotland’s 41 league clubs to have their say on major issues.
So NEW CLUBS joining the SFA were forced to serve a 5 yr spell as associate members and the rule was scrapped for Sevco .
Another Tony Blair moment for the great tribute act…….oh dear
You would think a clubs existence and history being called into question would attract more than just a phone call to the SFA?
I would have thought something of this significance would have had the old..’we are seeking legal advice’…thrown into the public domain?
Unless of course what Peter said had a metaphorical truth…
Gawn yersell Pete….Rory Bremner wit you like?
I was particularly interested in the quotes from the Celtic AGM carried by the Herald :
“It was perhaps best summed up by a Bankier statement that twice referenced an “unstoppable” Celtic.
He said: ‘The board’s aim is to continue doing what we’re doing. We have a definite plan and financial model: it’s about living within our means but doing the best we can in terms of spending on firepower.
“We have to qualify again for the Champions League. If we can do that, it will be the third year in succession. That has a tremendous impact on the financial power of Celtic Football Club.
‘I would love to see this club become one of the main players on the world stage, in the modern game and in world football. There is a tremendous romance attached to the club. We put smiles on people’s faces all over the world, we have a tremendous attitude to life, humour and social responsibility. Together with football success, that makes us unstoppable.
‘The momentum we’ve built up in the last three to five years is formidable. With luck on our side and success on the field, we will be nothing short of unstoppable. WATP.”
Actually he didn’t say the very last bit. Even as an Arbroath fan I actually wish he had done.
Scottish Football needs a strong Arbroath. WATP!
toby says: (84)
November 16, 2013 at 8:38 am
===================================================
Toby, the behaviour of the hordes with their ‘Show liquidation the red card’ tactics and other such futile endeavours remind me of Billy Connolly telling a story about a plane heading straight into a mountain and all the passengers throw their wee cushions at it while shouting “Go away nasty mountain!”
Cannae mind what the story was about though… but maybe more effective than the red cards?
Paulmac2 says
I would have thought something of this significance would have had the old..’we are seeking legal advice’…thrown into the public domain?
Maybe if they really were still the same, they’d have gone to WAR with the SFA.
yakutsuki says: (133)November 16, 2013 at 9:25 am
Toby says: November 16, 2013 at 8:38
==================================================
Toby, the behaviour of the hordes with their ‘Show liquidation the red card’ tactics and other such futile endeavours remind me of Billy Connolly telling a story about a plane heading straight into a mountain and all the passengers throw their wee cushions at it while shouting “Go away nasty mountain!”
=======
Plane crashes, survivors rush to rebook on a plane of similar livery riddled with technical faults with a set destination of the south face of ‘Mont Blanc’…Pilots cash in on the insurance job. No refunds for passengers. Passengers start queuing again, just less of them and now very scared of flying, unless pilots show Rangerness Certificate from Civil Aviation Authorities.
toby says: (85)
November 16, 2013 at 9:57 am
yakutsuki says: (133)November 16, 2013 at 9:25 am
Toby says: November 16, 2013 at 8:38
==================================================
Toby, the behaviour of the hordes with their ‘Show liquidation the red card’ tactics and other such futile endeavours remind me of Billy Connolly telling a story about a plane heading straight into a mountain and all the passengers throw their wee cushions at it while shouting “Go away nasty mountain!”
=======
Plane crashes, survivors rush to rebook on a plane of similar livery riddled with technical faults with a set destination of the south face of ‘Mont Blanc’…Pilots cash in on the insurance job. No refunds for passengers. Passengers start queuing again, just less of them and now very scared of flying.
=======================
Plummet Airlines FC? Air Bremner FC?
Scottish Football needs a strong set of regulatory bodies for what seems to be about to happen. “Those who do not remember the past are condemned to repeat it.” (George Santayana)
PS Pity there’s not a jobbie wheecher for football clubs.
JLeeHooker says: (71)
November 16, 2013 at 8:43 am
27 1 Rate This
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How could any self- respecting bampot forget Bibs & Non- Bibs??
redlichtie says: (285)
November 16, 2013 at 10:35 am
PS Pity there’s not a jobbie wheecher for football clubs.
=================================
Isnt reality their jobbie wheecher? They died , got spat out- swimmity swimitty, reformed, about to die again, and no doubt repeat again!!
David Low @Heavidor 3h
This is the story the SMSM ignore. The contest for RFC. http://www.investegate.co.uk/worthington-group–wrn-/rns/diversification/201304170811385415C/ …
Print Mail a friend
Wednesday 17 April, 2013
Worthington Group
Diversification
RNS Number : 5415C
Worthington Group PLC
17 April 2013
RNS Number: 5415C
Worthington Group Plc
17th April 2013
FOR IMMEDIATE RELEASE
Worthington Group Plc
Worthington Group Plc (the “Company”) – Diversification
The Company has been looking at ways to diversify the Company’s activities in order to develop additional growth opportunities. It currently has a property in Keighley and a 44% stake in Trimmings by Design Ltd. Whilst these interests have the potential to deliver reasonable medium term growth the Company has been looking at other potential investments which may yield above average growth.
The Company is now pleased to announce that, as the first step in the possible acquisition of Law Financial Ltd (“LFL”), it has agreed to acquire a 26% stake in LFL for £250,000 payable in unsecured convertible loan notes. The Company has also been granted an option to acquire the remaining share capital of LFL. The full acquisition would be subject to shareholder approval and compliance with any applicable Listing Rules.
LFL, a recently incorporated company, has a number of subsidiaries, namely Sevco 5088 Ltd, Law Capital Ltd, Litigation Capital Ltd and Media Litigation Ltd (LFL and its subsidiaries hereafter being referred to as the Law Financial Group). The eventual aggregate purchase price for 100% of LFL will be £1m in unsecured convertible loan notes plus 33.33% of the proceeds of any assets, claims or rights currently owned by LFG or transferred to LFG or Worthington pursuant to the agreement payable in non-convertible unsecured loan notes which may be redeemed for cash at the option of the holder at any time after six months of issue. The Company’s option to acquire the balance of the share capital of LFL is exercisable until October 31st 2013.
The assets of Sevco 5088 Ltd include a claim, which has been independently reviewed by Leading Counsel who is also a Deputy High Court Judge, to all of the business and assets of RFC 2012 Plc which were purchased by Sevco 5088 Limited or Sevco Scotland Ltd from the administrators of RFC 2012 plc in June of 2012. Sevco Scotland Ltd was subsequently renamed The Rangers Football Club Limited and its share capital was acquired by Rangers International Football Club Plc, the shares of which are now traded on AIM. It is the position of Sevco 5088 Ltd that it is the rightful owner of the business and those assets. After examination of the evidence, Leading Counsel’s advice is that there is a prima facie case to answer.
It has also been agreed that, pursuant to the agreement certain other related rights, assets and causes of action will be transferred to the Law Financial Group or directly to Worthington. Those assets include the Book, Film and Television rights to the two takeovers of The Rangers Football Club in 2011 and 2012 as it relates to Craig Whyte. It is intended that these rights will be commercialised in due course.
It is LFL’s intention to enter the litigation funding and litigation funding broking markets. Litigation funding is a growing sector of the commercial litigation market and the Company is of the view that, in the years to come, the demand for litigation funding within the corporate sector can only increase.
The unsecured convertible loan notes issued as part of the consideration will only be convertible to the extent that the holder or those acting in concert do not exceed 29.9% of the voting capital of the Company.
The unsecured convertible loan notes will give the holder the right, at any time within 7 years, to convert each £1 of those loan notes into 20 new Ordinary fully paid shares in the Company, subject to shareholder approval. The Company will endeavour to obtain this approval within twelve months of the date of issue. If approval is not obtained within twelve months, then the holders may elect to be repaid in cash, or convert each £1 of the loan notes into 10 new Ordinary fully paid shares in the Company.
Douglas Ware, Chief Executive Officer of Worthington Group Plc, said:
“We believe that the transaction contemplated by this announcement gives the Company a major opportunity to increase shareholder value and thus to strengthen the Company’s balance sheet, enabling the Company to look at additional opportunities as they arise.”
Enquiries:
Douglas Ware, CEO Worthington Group Plc: dougware@worthingtongroupplc.co.uk
Anne Alesbury, PD Cosec Limited,
Company Secretary, Worthington Group plc on 0208 940 0963
17th April 2013
This information is provided by RNS
The company news service from the London Stock Exchange
END
The wife asked me if I could drive her for her dental appointment and wait for her ,no problem its a Saturday ,on waiting I picked up one of the dailys in the waiting room,The Sun,was reading the Clarkson page,done a good bit on the Remembrance subject, worth a read.
JLeeHooker says: (71)
November 16, 2013 at 8:43 am
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Zombie–gers?
The debate is all well and good, but can people please stop referring to Rangers / Sevco / Whatever fans as hordes, klan, zombies etc.? It makes me uncomfortable.
Thanks in advance.
Were we not expecting to hear something from BDO yesterday? Was this just a rumour or has everyone forgotten about it due to all the hilarity from the AGM.
It will be really interesting if the SFA do decide to take Peter Lawwell to task and ask him to defend his comment.
That would pretty much force him to prove that Rangers are in fact a new club.
He could really do this in two ways first business.
The club incorporated and became a Ltd Co. That Ltd Co floated and became a PLC. That PLC was liquidated.
Second football.
Various here, including but not limited to. If it’s the same club why did it play in the first round of your cup, as runners up in the SPL the previous season they would not have done that.
It would effectively force them to make a ruling on whether he had a point or not.
RyanGosling says: (87)
November 16, 2013 at 11:24 am
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I have no wish to make you uncomfortable Ryan.
Zombies is meant light heartedly and a little poignantly: in reference to the contradictory ‘vital’ state of the club/institution, and is in no way intended as a slur on the fans of TRFC.
There is a knuckle dragging element there for sure, but there is s decent rump too of TRFC that I would happily pass the time of day with, – and I dare say there’s probably a few Caley fans that would make my head fit to burst too.
But I think unless you are willing to concede on the newclub point, and move on, and instead insist – as many TRFC fans do – on the fantasy that the club was saved from liquidation (get a dictionary), I think we are entitled to poke fun at the ambiguity of the stance being taken, and this is a highly appropriate metaphor to use.
So no, I won’t stop it with the zombies unless you concede that the club was liquidated.
Because I also am offended.
I find the fact that so many elements of the establishment have conspired to rewrite rules and fabricate history and twist facts in order to placate a single section of society and protect them (but no one else) from the consequences of their excesses just as uncomfortable as you find the term ‘zombies’.
And that is right in my face….
I will reiterate – the z word refers to the contradictory ‘vital’ state of the institution, and is not a slight upon the longsuffering fans thereof.
Sure it has an edge to it, which is sharpened with humour, and stiffened with truth. That is why it is such a great metaphor.
(Hordes/Klan etc are not words I habitually use, and I am very happy to refrain from their use subsequently in order to accommodate such sensitivities. I think you do have a serious point there, and we should aim to respect it.)
@blackjacque
I checked this twitter rumour (for that is all it was) with the BDO Press Office.
They told me that there wasn’t anything to this.
I have a good relationship with them and it is a No No for a Press Officer to tell an outright untruth to a journo (believe it or not).
The succulent lamb chaps rarely ask questions, but merely queue up for a press release….
Re the Ibrox ‘complaint’ over the Peter Lawwell comment. What exactly do they expect the SFA to do? Do they wish the SFA to impose a military junta style operation where only views pre-approved from Ibrox are allowed? Even worse still, albeit not a surprise, is the reaction of many in the media. How ironic is it people who complain about the freedom of the press being interfered with would like to see restraints imposed on what people within Scottish football can and can’t say.
Edit: Why are the media allowed into the AGM anyway? Are companies legally obliged to allow this? Celtic allowing the media in is like bringing people to your home, giving them hospitality, then when they leave they tell everyone in the town what an ars*hole you are.
On Twitter:
5 way agreement, 4 spivs in charge, 3 weeks to go, 2 directors left and 1 Craig Whyte.
Sung to the tune of Twelve days of Christmas
Made me laugh 😆
Fair play on your last sentence Resin, thanks.
As to your previous point, I have never insisted that the club was saved from liquidation. And I have a dictionary, which I was given when in primary school, but to be honest hasn’t been used since the dawn of the internet. I find it easier to Google a word if necessary rather than get off my ass and go get a book, which is a bit out of date now anyway. But I digress.
I’m pretty sure I know what you’re looking for, so I will just state my opinion on the matter. As I am not mentally challenged, I know fine well that Rangers were not saved from liquidation. They are also not dead; only living things can die, not corporate entities. But the company is gone, sure. The club / company being separate is something I heard for the first time after the liquidation of Rangers was confirmed. Personally, I continue to support Rangers. I don’t really care if the history is unbroken / lost etc. I don’t really care if the fact that the history is broken / lost brings joy to some people and pain to others.
The new company is a new club.
The new club was born from the ashes of the old club. In light of that, they are the team that have my support. I consider the history to be attached to the new club in the sense that Rangers were liquidated and a new club was started, therefore the liquidation is just an event in the history of “Rangers”. But I know it happened and am not and have never denied that fact.
For absolute clarity should have said “in liquidation” rather than “liquidated”. But I trust everyone knows what I meant.
Well said , Ryan, If there were more bears out there willing to speak the truth like yourself there would be much less animosity towards the current team playing out of ibrox.
Is it not about time more people within the boardrooms of all the clubs in Scotland took a leaf from Pistol Pete’s book and started calling it as it is? Subservience to the noisey and threatening incumbents at Ibrox has created a divide within the game that I fear will never be abridged. We need strong chairmen to stand up now and be counted. Their unwillingness in the past to stick their collective heads above the parapet would be forgiven if they suddenly found their morales. Waiting on a lead from the authorities will be fruitless.
RyanGosling,
The new club was born from the ashes of the old club. In light of that, they are the team that have my support. I consider the history to be attached to the new club in the sense that Rangers were liquidated and a new club was started, therefore the liquidation is just an event in the history of “Rangers”. But I know it happened and am not and have never denied that fact.
=========================
What a load of mince,you have just stated the very reason that some fans of Sevco are called Zombies.
Regards the lawwell: I can understand some folk getting a bit irritated by it, but the over reaction is incredible.
It was a joke and a wee dig. Everybody knows that Sevco are a poor imitation of a failed Football club.
In their current predicament they should know that they need to address problems that will finish this incarnation within a year rather than throw a childish tantrum over a minor remark.
Of course Lawwell may be using an old Norse meaning of a Bremner and a Blair, totally different meaning and all that!
His answer should just be: Get over it.
Rangers were liquidated and a new club was started, therefore the liquidation is just an event in the history of “Rangers”.
======================================
Is today National Non-Sequitur day and I didn’t get the memo.
@RyanGosling
It was probably myself who first introduced “klan” into the fitba lexicon when describing (and deriding) that section of the RFC (and now Sevco) support.
My rationale was quite simple.
The song “The Billy Boys” lauds the memory of self proclaimed fascist Billy Fullerton.
This street thug also established a branch of the Ku Klux Klan in Bridgeton in the 1920s.
In my writing I refer to the “klan” in lower case-as in Conservative with a small “c”.
If The People drop TBB and publicly state that Fullerton was a fascist ( a characterization that Fullerton was comfortable with) and that he shouldn’t be fondly remembered in song on matchdays in 21st century Scotland then the lexicon can change.
Before you say that TBB has gone, it was heard clearly this season at Berwick.
Until there is a change in the Ibrox zeitgeist then the use of the word “klan” remains accurate.
If it makes you uncomfortable then I suggest you study the life and times of Billy Fullerton and consider why-in 2013-he is being celebrated by “Rangers” fans.
Carfins Finest says: (43)
November 16, 2013 at 12:20 pm
================================
I guess most clubs keep silent due to the almost certain knowledge that to comment will bring threats and intimidation, which the media somehow fail to properly condemn.
If a Rangers EGM does go ahead, it will be interesting to see how many barbed jibes are aimed at Celtic, and what the media reaction to it is.
@upthehoops
The media in Scotland are also intimidated when it comes to matters Ibrox.
Den says: (16)
November 16, 2013 at 12:25 pm
Regards the lawwell: I can understand some folk getting a bit irritated by it, but the over reaction is incredible.
——-
Hamlet: “Madam, how like you this play?”
… open goal for someone to suppy Queen Gertrude’s answer … 🙂
Note (lifted from tinternet): “By “protest,” Gertrude doesn’t mean “object” or “deny”—these meanings postdate Hamlet. The principal meaning of “protest” in Shakespeare’s day was “vow” or “declare solemnly,” a meaning preserved in our use of “protestation.” When we smugly declare that “the lady doth protest too much,” we almost always mean that the lady objects so much as to lose credibility. Gertrude says that Player Queen affirms so much as to lose credibility. Her vows are too elaborate, too artful, too insistent.”
RyanGosling says: (89)
November 16, 2013 at 12:07 pm
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Ryan,
Well said.
Congratulations. You are no zombie.
You are a survivor.
Not of liquidation, but of Rangers past.
Wishing you all the best with your new club in its time of trouble. You will undoubtedly feel an emotional link between the 2 institutions. The existence of this link is unarguable. Separate entities, but connected is what they are. And you form part of that connection. But to call them the same club is to insult all the creditors who were stiffed and others who were cheated as a result of the actions of a number of disreputable people who were in control of RFC over the years.
… Now if you can just have a wee word to that effect with the rest of the hordes and klan !JOKING! 😉 …. , I mean TRFC support, we can all move forward!