Charles Green – What Will Football’s Authorities Do?

Charles Green has declared war on the Scottish football authorities. His statement and that of Duff and Phelps today deserve detailed analysis, which is ongoing at McConville Towers as we speak, and will be concluded as soon as Stewart Regan, Neil Doncaster and Peter Lawwell tell me what to write.

For now, I wanted to speculate if Mr Green had managed to forget the terms of the SFA Rules, under which Rangers FC was censured for his comments some time ago. Mr Green could well have forgotten, as the censure took place as long as eleven days ago.

The relevant rules are as follows:

Rule 1: All member clubs shall:
(a) observe the principles of loyalty, integrity and sportsmanship in accordance with the rules of fair play;
(b) be subject to and comply with the Articles and any statutes, regulations, directives, codes, decisions and International Match Calendar promulgated by the Board, the Professional Game Board, the Non-Professional Game Board, the Judicial Panel Protocol, a Committee or sub-committee, FIFA, UEFA or the Court of Arbitration for Sport;
(c) recognise and submit to the jurisdiction of the Court of Arbitration for Sport as specified in the relevant provisions of the FIFA Statutes and the UEFA Statutes;
(d) respect of the Laws of the Game;
(e) refrain from engaging in any activity, practice or conduct which would constitute an offence under sections 1, 2 or 6 of the Bribery Act 2010; and
(f) behave towards the Scottish FA and other members with the utmost good faith.

Rule 2: Each member shall procure that its officials, its Team Officials and its players act in accordance with Rule 1.

Rule 66: No recognised football body, club, official, Team Official or other member of Team Staff, player, referee, or other person under the jurisdiction of the Scottish FA shall bring the game into disrepute.

Rule 71: A recognised football body, club, official, Team Official, other member of Team Staff, player or other person under the jurisdiction of the Scottish FA shall, at all times, act in the best interests of Association Football and shall not act in any manner which is improper.

Now let’s see where Mr Green might, through inadvertence, have sinned against those rules, accidentally of course. The following are extracted from his statement on the official Rangers FC website.

“Our lawyers have made that point repeatedly to the SPL in correspondence and yet our requests for an explanation from the SPL have been completely ignored. The SPL’s silence on these issues is deafening. The outcome of the SPL’s process will have no legal effect.

“Although the SPL goes to great lengths to emphasise the independence of its Commission, the Commission is not independent of the SPL. It has been appointed by the SPL. It follows SPL rules and its process is managed by SPL staff. I don’t question the impartiality of the individual panel members but whatever decision they reach is a decision of the SPL.

“Did the SPL launch an investigation? Did they appoint a Commission?  Did they ask to see EBT correspondence? Did they ask any questions at all?  No. They did absolutely nothing.

“What compounds the breathtaking hypocrisy of the SPL in this whole saga, is that the SFA, the SPL and us – as the new owners – took part in numerous discussions regarding the new company’s league status during which it was made clear that a deal was there to be done where ‘the EBT issue’ would be dealt with as part of a package of sanctions which would be implemented in return for membership of the SFA and a place in either the SPL or Division One.

“We do not accept that people who are willing to come to an agreement on such matters then have a right to instigate a full blown inquisition when matters do not unfold as they thought they would.

“In our view, it beggars belief that an authority which can be heavily involved in these discussions to the point that the Chief Executive Neil Doncaster repeatedly stated he was not interested in stripping titles from Rangers can lurch from that position to setting up its own Commission under the chairmanship of Lord Nimmo Smith.

“I must make it clear that we are not questioning for a moment the integrity of Lord Nimmo Smith and his colleagues but we believe the SPL have been hypocritical in their approach to this matter.

“Why is the SPL rushing to judgement now when it has been sitting on the matter for two years? Their haste is particularly difficult to understand when the tax tribunal judgement is imminent.

“The factual issues in both cases are identical. We have to ask why is the SPL so anxious to issue a judgement in this matter before the tax tribunal’s findings are made public.

“Nothing has changed as the judgement still has not been made public. Why is the SPL rushing ahead when in April the SFA felt it unwise to do so?

“Rangers was not the only club in Scotland to use EBTs yet nothing was done and little has been heard about it. Also, Rangers stands accused of achieving sporting advantage unfairly – yet there is little debate over the fact in all the years EBTs were in existence at Ibrox, the Club often failed to win either the league title, or the main cup competitions.

“The decision we have taken has not been taken lightly. There are powerful representatives from Clubs within the SPL – not all of them by any means – who appear hell bent on inflicting as much damage on Rangers as possible.

“It is lamentable that the Board and executive of the organisation have not been able to deal with this appropriately. We do not hold every SPL club in the same regard. Several clubs were placed in an invidious position and we believe their interests were not best served by those in more powerful positions.

“Furthermore, as a Club we are not satisfied that the issue of conflict of interest relating to advisers to the SPL has been satisfactorily dealt with.

“Once again I would thank our supporters for their patience and tolerance. They have been asked to take it on the chin time and again and we stand united in saying: No more.”

——————————————————

Have a read through these edited highlights once again…

The SPL’s silence on these issues is deafening … the Commission is not independent of the SPL … They (the SPL) did absolutely nothing … the breathtaking hypocrisy of the SPL in this whole saga … a full blown inquisition … it beggars belief that an authority which can be heavily involved in these discussions to the point that the Chief Executive Neil Doncaster repeatedly stated he was not interested in stripping titles from Rangers can lurch from that position … we believe the SPL have been hypocritical … There are powerful representatives from Clubs within the SPL – not all of them by any means – who appear hell bent on inflicting as much damage on Rangers as possible … It is lamentable that the Board and executive of the organisation have not been able to deal with this appropriately. We do not hold every SPL club in the same regard. Several clubs were placed in an invidious position and we believe their interests were not best served by those in more powerful positions … Once again I would thank our supporters for their patience and tolerance. They have been asked to take it on the chin time and again and we stand united in saying: No more.

——————————————————

Mr Green has issued a lengthy statement, as can be seen from the fact that what is shown above is only an extract from it. It is on the official Rangers website, and is stated to be by “Rangers Football Club”.

If this is not a declaration of war on the SPL and by extension the footballing authorities in Scotland, I don’t know what is.

I spoke to a friend who compared some of Mr Green’s recent statements to what has become known as “dog whistle politics”. There is little of the dog-whistle about this – instead it is a clear rallying cry to the loyal support of Rangers, which will, I am sure ensure that the turnstiles keep clicking at Ibrox for some time yet.

As of a few minutes ago the respective posts regarding the statement on two of the main Rangers FC fan sites showed a total of 867 posts and over 26,000 views. Not bad for a statement issued two hours ago!

I also suspect that the reaction there will be 100% positive.

Deciding that they are refusing to play and denouncing the process before the first hearing takes place is an interesting tactic. Now, if the Commission proceeds, in the absence of both oldco Rangers and newco Rangers and delivers a damning judgement, it will be ignored, it appears, by Mr Green and his company. And, if action is taken, then they propose to invoke the aid of the courts to stop disciplinary action happening.

What strikes me is that, once again, Mr Green is playing a masterful hand. He is a king of diversion. When the transfer of the SFA membership took place Mr Green said:-

“There remains, however, an outstanding issue with the SPL regarding EBTs.  As we have proved in the last couple of months we will stand up to any challenges that face Rangers and will continue to fight for the Club’s best interests.”

What he has managed to do is to build the impression that the one penalty, above all others, which newco will not accept, being the most horrendous possible, is the stripping of titles. Not being barred for all time from, membership of the SPL; not being suspended for a longer period than the next three years; not the imposition of further financial penalties…

No, the one penalty to be fought against, above all others, is one which will cost newco not a penny, and will in fact generate more support from the fans.

As I said, it is brilliant!

He has challenged the football authorities to take action, as indeed he promised he would. So much gratitude for the three ruling bodies pledging to “facilitate” Rangers entry to SFL3!

And as far as his attack on some, but not all, SPL teams, one wonders why he felt constrained from telling us who they were. After all, Ibrox is the home of clarity, transparency and free speech!

However the extracts above indicate numerous ways in which the rules quoted at the top of this piece are broken. Will the SFA have the courage of its convictions to take action? Will the SFL take any steps itself?

Or has Mr Green stared them down, and, as long as the share flotation comes along in the near future, enraptured the fans into subscribing in their thousands?

As has been the case ever since RTC started, this piece could end with the line:- we have no idea what will happen next; we will have to wait and see!

Posted by Paul McConville

1,814 thoughts on “Charles Green – What Will Football’s Authorities Do?


  1. So Sally has now blamed:

    The SPL
    The SFA
    The other Scottish Clubs
    and now… the pitch.

    Except… this time… he is not far off the truth

    http://saintinasia.wordpress.com/2012/09/18/sevco-blame-game/

    While almost all surveys on the 3g pitches have come back as either saying the pitches are ‘as safe’, or indeed, ‘safer’, one thing sticks out on all the statistics in these reports – that ankle and knee ligament damage is more ‘likely’ on a 3g surface when compared to the risk on a grass surface.

    So, what Sally says, is probably not far off the truth! It seems pigs really do fly sometimes…


  2. Just TUPED across.

    Thinking about employment contracts – If RFC(IA)/Sevco are still struggling in terms of on the pitch performances – how many players would it take to leave in the next transfer window, for the club to be in a difficult position – in terms of attracting paying fans?

    I am not convinced that CG is in this for the long haul – a share issue may provide him with an exit strategy.

    In terms of CG being able to launch a share issue – RFC(IA)/Sevco would have to join a stock exchange. What barriers are there to this? From a legal stance, could CG join a stock exchange whilst Lord Hodge has not released RFC from administration, what about audited accounts? IF CG does not move for a share issue – is this a signal that CW is still in the background?


  3. stunney says:
    September 18, 2012 at 03:20

    http://www.heraldscotland.com/sport/football/rangers-lay-blame-for-injury-on-pitch.18906735

    http://www.scotsman.com/sport/football/top-football-stories/annan-pitch-caused-injury-to-david-templeton-say-rangers-1-2532292
    ———————————————————————————————————————

    Can someone please tell me how many other players were carried off with injuries to to the pitch? If the pitch is that dangerous, what size squad do Annan have to cope with their injury list?

    Stop whining Sally, you and your mercenaries are not good enough for the SFL3.


  4. briggsbhoy……………..canny believe that you have never ventured on to CQN…….

    Goan….gie it a try…….nae sweary words……..self moderated………fit fur weans anaw…..

    Come back & let us ken if it’s comparable to yur Vanguard Bears / RM……….

    Goan son, yi ken yi want tae….

    Paddy T……..


  5. Long Time Lurker Says
    Let the debate begin ,we need this to fill in the dark nights ,oops I mean the dark winter nights


  6. Date 14 September 2012
    Our ref FOI 2482/12
    ________ Your ref
    Dear Tic 6709
    Freedom of Information Request
    I am writing regarding your request for information, which was received on 29 August 2012.
    You asked for the following information:
    I would like to know the details of the conversations between The First Minister of Scotland
    and HMRC concerning Rangers Football Club.
    HMRC neither confirms nor denies it holds the information because saying so would
    necessarily tell you something about this person or persons. Such information, if held, would
    be held for HMRC’s function to assess and collect. I am relying on the exemption contained
    in section 44(2) FOIA in reaching this decision. The attached appendix has a more detailed
    explanation about why the exemption applies.
    If you are not happy with this reply you may request a review by writing to HMRC FOI Team,
    Room 1C/25, 100 Parliament Street, London, SWIA 2BQ or by e-mail to
    foi.review@hmrc.gsi.gov.uk. You must request a review within 2 months of the date of this
    letter. It would assist our review if you set out which aspects of the reply concern you and
    why you are dissatisfied.
    If you are not content with the outcome of an internal review, you may apply directly to the
    Information Commissioner for a decision. The Information Commissioner will not usually
    consider a case unless you have exhausted the internal review procedure provided by
    HMRC. He can be contacted at The Information Commissioner’s Office, Wycliffe House,
    Water Lane, Wilmslow, Cheshire SK9 5AF
    ==========================================
    It was worth a try.


  7. Your Amazon.co.uk order of “Downfall: How Rangers FC S…” has been dispatched

    Good I can ditch the book the missus said I should read, 80 pages in and they’ve introduced 6 characters and none of the story…


  8. StevieBC says: September 18, 2012 at 01:05

    Didn’t Celtic play against Helsinki who play on artificial turf? And don’t Spartak Moscow? I guess “that’s the way it is” in the Champions League huh Sally?

    Given the Scottish weather I am surprised more teams don’t “go plastic”.


  9. iamacant says:
    September 18, 2012 at 07:33 (Edit)

    The answer is of course no one else was carried off.

    However, this doesn’t mean what Sally said was not correct. In fact, when I first saw the article I was thinking ‘here we go again’, and immediately went off to google to show why McCoist was wrong thinking it would make a great article.

    The problem is, he, and the Ibrox doctor, are right. I could have followed the school of MSM journalism and just looked for a study which proved what I wanted it to prove (read this: http://loveandgarbage.wordpress.com/2012/08/24/how-do-you-write-about-foreign-legal-systems-the-guardian-style-guide/), but, I try not to be like the MSM so I actually read the studies.

    In almost all the ones I checked, the risk of knee and ankle ligament (like the injury sustained by Templeton) is increased. The NFL study found an 88% increase – this study of Norwegian football over 3 years found a 31% increase.

    http://www.klokavskade.no/upload/Publication/Bj%C3%B8rneboe_2010_BJSM_Risk%20of%20injury%20on%20third-generation%20artificial%20turf%20in%20Norwegian%20professional%20football.pdf

    While overall these pitches caused fewer injuries (they reduce the risk of fractures and muscle injuries) overall, they do increase the risk of ligament damage in the legs. This has been found across all sports (NFL, football, Australian rules etc). Once again, FIFA, and the MSM present the picture they are told too by the press release, rather than checking the details, and I’m sorry, but, in this case, McCoist is quite right to be questioning the pitch!

    Does that mean we should get rid of them? No. Just like if someone asked me should we ban boxing because of the injury risk, i would answer No. But there is benefits and negatives to using a 3g pitch, and one of those is the increased risk of serious ligament injuries like the one sustained by Templeton. That is fact, so in this instance, McCoist is correct.

    Like I said before… it seems pigs really can fly sometimes.

    This is what I wrote on my blog with links to all the stats http://saintinasia.wordpress.com/2012/09/18/sevco-blame-game/


  10. john clarke says:
    September 18, 2012 at 00:54

    And his automatic instinct as a child of his generation ( and remember, there is not one poster on this blog who last year was any different) was one of total disbelief that such a fixed element in the firmament could implode!

    ===================

    I beg to differ, I and others I know have been predicting this implosion for several years. The business model has seemed flawed for a long time, and the issues with the tax man did not just appear in the last twelve months.

    What we have seen, the death of Rangers, has been a long time coming. What is surprising is the lengths some people have gone to to minimise the damage. They genuinely believed that the business could walk away from tens of millions of pounds debt, be re-formed with no objection, and continue to play in the SPL with the approval of the other clubs.

    The out and out lies from the SFA, SPL and MSM have been the most astonishing part. If something does not suit they either ignore it or lie about it. The whole unsavoury affair has been quite astonishing.

    That is the really disgraceful part of this whole story. Though to be fair it has served to confirm that they are and always have been the establishment club. If you consider the establishment to be the Scottish football authorities, the Scottish media and the Scottish politicians.

    We await BDO’s findings with regard to the administration process, however I doubt they were dealt with any more honourably than anything else in this whole fiasco.


  11. Can someone tell me why I keep getting told to try again why I attempt to sign on for Word Press? I then find all my information is wiped when I go back to try again. Pain in the behookie

    That after it took me umpteen goes to get an acceptable user name.


  12. McCoist: Their player was nowhere near him: he just got his studs caught in the surface”

    Annan secretary Alan Irving “One of the things which has become apparent, though, is that you need to wear the right footwear to play on it.”

    There you go, no need to call Miss Marple on this one…


  13. @Charlie, are you using a non-windows OS? using the link provided by TSFM, I managed to create an account in under a minute


  14. thegamesabogey says:
    September 18, 2012 at 09:07
    0 0 Rate This
    @Charlie, are you using a non-windows OS? using the link provided by TSFM, I managed to create an account in under a minute
    ——————————————————————————————————————————
    Thanks TGAB. Got it sorted using the link.

    By the way, what’s a non-windows OS and is there a cure for it?


  15. Just a thought if there was any dirt on our first minister, I’m sure the Labour and Tory parties will scrutinise his every move as he seeks independence. At least if I was in they parties that’s how I’d go after him. If he has given or tried to do any favour’s for an institution which has stolen from taxpayers, I wouldn’t imagine this would go down to well. Personally I think no doubt Scottish political influence was applied to the revenue for some sort of compromise. Now by no way am I a fan of the Cameroon government, but a hard-line approach to taxation seems to have been taken, therefore stopping Salmond’s plans for cheap vote’s from a certain end of Glasgow.


  16. jocky bhoy says:
    September 18, 2012 at 09:05
    2 0 Rate This
    McCoist: Their player was nowhere near him: …….
    =========
    ………. and I am absolutely shocked that we never got a penalty.


  17. Recent media articles (particularly Traynor’s yesterday) serve to prove the point that there is a drive to move the story on and dismiss the significance of the facts, particularly the consequences. As AT pointed out in his most recent blog, “move along, nothing to see…” seems to be the standard line now.


  18. TSFM says:
    September 23, 2012 at 00:00
    43 30 Rate This
    Looks as though there is an almost unanimous agreement ….
    ===============
    43 v 30 ……. almost unanimous?


  19. Eastern ex-pat says:
    September 18, 2012 at 09:45

    =================

    I think that is exactly the agenda now. “Nothing to see here”, often followed by “Let’s all just get back to talking about football” and accussing people of being obsessed.

    The thing is, this story is far from over and indeed is far from just being about football. In fact if one is honest football is only an incidental part. It is really about systematic abuse of the tax system by a business in Scotland and how that was covered up by the authorities and the media. At the very least by failing to act on it or report on it. It is about how a business was seen to be above the law, and how those in power and with influence tried to help them get away with it, and minimise the damage.

    It isn’t really about football, that is only the trade that business happened to be in. It is about lies, misprepresentation and favouritism. It is about being too big and too important to fail, and the dangers that entails. No person or business should be seen as being above the law, rules and regulations. For certain people Rangers were seen to be just that. Thankfully others said “No, that is just wrong. And we are willing to cope with the dire consequences you predict if that is the only way justice can be done”.

    So let’s not “move along” there is still plenty to see here, still plenty of lies and corruption to expose. Still justice to be seen done.


  20. Eastern ex-pat says:
    September 18, 2012 at 09:45

    Recent media articles (particularly Traynor’s yesterday) serve to prove the point that there is a drive to move the story on and dismiss the significance of the facts, particularly the consequences. As AT pointed out in his most recent blog, “move along, nothing to see…” seems to be the standard line now.
    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    We are nowhere near the point where there is a need to move on yet. That won’t come until the EBT & dual contracts issues are dealt with and the SFA & SPL gutted from top to bottom.

    The BDO investigation will take years to report. However, once the matters referred to above have been settled we will need to move on and by that I mean the supporters of ALL clubs.


  21. Eastern ex-pat says:
    September 18, 2012 at 09:45

    As discussed there do seem to be some people in the MSM that want to keep an eye on Charley Boy. A couple of Herald articels recently have shown that. However I agree folks like Jabba are wanting to move on.

    Another tactic used by some is the “Why (as a fan of another club) are you so interested in the goings on at T’Rangers?”

    To which the response is “because you lot failed to be interested in SDM and Whyte so what else do you expect from us given the nonesense being spouted by Green over the first few months of running the club”

    We are now arond six weeks on from this headline but no follow up from sports or business journos alike

    “Sports tycoon Mike Ashley to buy stake in Rangers (Ian McConnell Group Business Editor)

    BILLIONAIRE Mike Ashley is in advanced talks with Rangers chief executive Charles Green about buying a stake of up to 10% in the club and forming a joint venture to sell its replica kit through his Sports Direct stores.

    Sources told The Herald last night that a deal between Newcastle United owner Mr Ashley and Mr Green is expected to be completed within days.”

    The Sports Direct Joint Venture seems to be nothing of the sort from the way the company running the show has been set up and Mr Ashley doesn’t appear to have parted with any of his cash for a 10% stake in the club. If he had we would have heard by now.


  22. It seems the IPO has moved a step closer with the latest TRFC statement

    Following the announcement that The Rangers Football Club has appointed Cenkos to advise the club in relation to its plans to raise further capital, The Rangers Football Club announces today that it has appointed Capita Registrars to provide share registration services.

    Charles Green, Chief Executive of Rangers, said: “From the outset, the consortium which purchased the Club has stated its commitment to giving supporters and the wider public the opportunity to buy shares in Rangers.

    “The appointment of Cenkos Securities plc and Capita Registrars are important steps in the process and we are looking to continue making good progress on these matters.”

    The Rangers Football Club will make further details available shortly and expects that fans will have an opportunity to register their interest in purchasing shares in The Rangers Football Club in October.

    I’ve heard of Capita before, but Cenkos Securities? Some research required.


  23. “the wider public”

    think he means jim traynor …….


  24. easyJambo says:

    =================

    As discussed many times the plan always was a share issue. Basically the Rangers fans putting their hands in their pockets and doing two things a, giving the private investors a return on their money and b, providing a cash injection to keep the business going.

    That is when we will see who is really serious about this. When the talking stops who will actually put their own money into Charles Green’s business. Who will double the money rich people put in and who will provide them with the funds to keep their business going.

    The talking is almost over from a Sevco perspective. The time for real action is almost upon them. One wonders how much effort will be put into the propaganda war twixt now and the issue. Charles seems to have learned how important that is. Can he manage the final shove and get their money out of their pockets.

    We shall see.

    (To Rangers fans reading, both self proclaimed and simply reading without posting, it really is up to you now. Are you willing to buy into the Green dream in the same way you bought into Murray and Whyte. Your club, your money, your shout.)


  25. Am I the only person on here who harbours the strong suspicion that Green is basically just a front man for Whyte? If my suspicion is correct, then Whyte has played an absolute blinder. He ends up owning Ibrox and Murray Park, having put in nothing of his own money, except the pound coin he handed “Sir” David Murray. He might even have extracted a few million of the Ticketus money, just to cover expenses, etc.

    Now here’s an even more extreme theory. Is Whyte, in turn, really the front man for SDM? Allowing SDM to retain the keys to Ibrox and Murray Park (both very dear to his heart) while getting rid of those inconvenient creditors? Of course we may never find out. That’s what British Virgin Islands companies and trusts are for- to conceal the truth. And on past performance, Whyte won’t be talking unless he ends up in the dock.Of course the truth is out there somewhere. Somebody must know, apart from Murray, Whyte and Green. I wonder how Strathclyde’s finest are getting on with their investigation?


  26. easyJambo says:
    September 18, 2012 at 10:29

    ——————

    The statement features six instances of the word ‘Club’, but fails to mention the word “Company”.

    So fans will be buying shares in the Club?

    Is this the case?


  27. I guess that the next milestone will be the issue of a prospectus, which should reveal some more financial details about the company(club) that we haven’t seen thus far.

    If supporters are invited to “register their interest” before committing any cash, then it could be interesting if they were flooded with thousands of bogus enquiries. 😈

    I quick check on Cenkos seems to show them as a professional outfit, unlike the cowboys they are representing. 🙂


  28. This share issue is being rushed through. Why?

    Basic cash-flow problems?

    Strike while iron is hot, fans may never be more receptive than in the next few months?

    Will those who held shares in the last company/club be likely to throw their hard earned into this fundraiser?


  29. Why had everything Charles Green has been involved in with Sevco been confidential.
    The terms of the purchase of RFC with D&D, confidential.
    The names of his investors, confidential.
    The negotiations with the SFA, SPL, SFL for the 5 way agreement, confidential.

    Okay the obvious answer is that they all want us not to know what is going on.

    However have all the clubs in the SPL and SFL been made aware of the 5 way agreement, if not why not. If they are and there have been no discerning voices that I have heard, then they are all complicit in this corruption.
    It is pointless making enquiries to the SFA, SPL, MSM, and UEFA, they are not interested.
    It is time for the fans with contacts to the chairmen of all clubs to seek answers. they will come from nowhere else.

    If your club refuses to answer then you know they are complicit.


  30. stmiley says:
    September 18, 2012 at 11:02

    This share issue is being rushed through. Why?

    Basic cash-flow problems?

    Strike while iron is hot, fans may never be more receptive than in the next few months?
    ================================================================
    This will be the only thing ever rushed through in this whole saga.
    – Maybe before the FTT report, result may be known, but no report published
    – possibly before BDO take over, just in case sale is rescinded
    – before the SPL enquiry is completed
    – before and Bristow Collyer action takes place
    – before TUPR rules and regulations have been clarified.
    – before any police charges are brought.

    In fact it would appear everything else is being held back to allow this to go ahead.
    Two bad results on the playing side in the next week and dates will change very quickly.
    It will still be interesting to see and prospectus, especially who is underwriting the issue.


  31. Now the fun begins

    To do a share issue, CG has to give all the financial background company. He also has to specify what he is offering as an entity for someone to buy shares in.

    Not only will he have to disclose who his 20 pals are, but we will see just how much our Geordie pal has put into T’Rangers – if anything at all.

    Financial plans – business models – future plans (SFL2 etc) and costing………

    All will have to be given to the Bears to digest – and us to pore over

    Unless he does a John Brown and takes 200 quid off an OAP………..wonder if he ever got reimbursed?

    http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4400806/Tom-first-to-stump-up-money.html#ixzz1z8QGh9mz


  32. Have now Tuped over.Couldn’t get WordPress to accept old username but this is near enough.
    _____________________________________________________________________________
    WOTTPI says:
    September 18, 2012 at 10:12

    Eastern ex-pat says:
    September 18, 2012 at 09:45

    We are now arond six weeks on from this headline but no follow up from sports or business journos alike

    “Sports tycoon Mike Ashley to buy stake in Rangers (Ian McConnell Group Business Editor)

    BILLIONAIRE Mike Ashley is in advanced talks with Rangers chief executive Charles Green about buying a stake of up to 10% in the club and forming a joint venture to sell its replica kit through his Sports Direct stores.

    Sources told The Herald last night that a deal between Newcastle United owner Mr Ashley and Mr Green is expected to be completed within days.”

    The Sports Direct Joint Venture seems to be nothing of the sort from the way the company running the show has been set up and Mr Ashley doesn’t appear to have parted with any of his cash for a 10% stake in the club. If he had we would have heard by now.
    =====================================================================
    Why should Ashley bother.He’s already got what he wants.My reading for what its worth is that Ashley may have promised to buy 10% for £1-2m in exchange for total control of Sevco merchandising.I can’t see him accepting non-voting shares,or indeed anything that removes some of his control.
    Question is,how does he see the end game?.
    Has he been promised that there are indeed,other rich investors willing to invest for the long term,
    because that’s what it will take to get Sevco back to where they believe they should be.
    Alternatively,is he also looking for a quick return on his money,ie,is he one of CGs silent partners we keep hearing about?.


  33. Hey – maybe the OAP was not so daft after all

    Tom firmly believes Bomber is the right man in the right place at the right time.
    And he said: “I first went to see the Rangers 75 years ago, I grew up watching people like Jock ‘Tiger’ Shaw.
    “A man needs something special inside to play for Rangers and care for Rangers, and John has that.
    “The biggest crime here is the loss of 140 years of history.
    “We have to make new history now.”


  34. troubledfan says:
    September 18, 2012 at 06:13
    0 0 i
    Rate This
    carl31 23.44
    surely what you speak of has already happened.
    have the sfa/spl not withheld moneys due to newco to pay the footballing depts of oldco ??

    No.
    The scenario you describe has two main aspects that mean there was no legal test.

    One – newco voluntarily accepted a requirement to pick up the football debts as a condition of being granted SFA membership. Taking on a third party’s debts by choice does not define you as being the same as that third party.
    Two – prize money withheld by the SPL may have been because the SPL take the view that no prize need be paid since last season’s Rangers are no more. The letter charles Green claimed as evidence that the DUtd debt was to be paid from withheld prizemoney was dated prior to the CVA decision, prior to any purchase of assets, and prior to the 5way agreement in which this seasons Rangers agreed to pay the footballing debts. Indeed, the letter from SPL would not even have been sent to Charles Green, but instead to the administrators. The creditors pot may well have the stronger claim on any prize money due to last seasons Rangers.
    Whatever you think of the merits of this situation, its not a legal definitive on the same/new club dilemma.

    I would like to see a scenario where a party directly claims payment from this season’s Rangers on the basis that they are indeed the same club – which is contested by Charles Green simply because they are not. If they are judged to be the same club, thats fine by me – but the precedent is set that they have to pay ALL its debts (and honour shareholding certificates). If they are judged to be a new club, they avoid the heavy debts of the last club, only take on the debts that they choose to take on under the 5way agreement and can perform a whole new share issue unencumbered by claim from last seasons Rangers shareholders.

    Currently, the behaviour of this season’s Rangers is in line with the latter scenario – a new club.


  35. Oldcobrokemyheartbycheating says:
    September 18, 2012 at 09:23
    Now by no way am I a fan of the Cameroon government, but a hard-line approach to taxation seems to have been taken,
    ——————————————————————————————–
    Sorry just fell off my chair laughing at that line. 😀


  36. Disadvantages of an IPO

    There are several disadvantages to completing an initial public offering:
    Significant legal, accounting and marketing costs, many of which are ongoing
    Requirement to disclose financial and business information
    Meaningful time, effort and attention required of senior management
    Risk that required funding will not be raised
    Public dissemination of information which may be useful to competitors, suppliers and customers

    http://en.wikipedia.org/wiki/Initial_public_offering

    I’ll get my popcorn…………….


  37. easyJambo says:
    September 18, 2012 at 10:29

    Alex Cox says:
    September 18, 2012 at 10:38

    Agree this is getting to crunch time for the Rangers fans.

    Register interest in October and part with your cash before Christmas (under 100 days to go I think I heard yesterday).

    I will remind everyone of two questions

    One from the Dragon’s Den.

    “What can you say to convince me to go to Mrs Bannatyne / Paphitis (take your pick) and tell her that this is a business that is worth putting my children’s inheritance money into?”

    The other is an old standard

    “Would you buy a used car from this man?”

    I also note that from a court case in 1999……….

    http://www.scotcourts.gov.uk/opinions/03161998.html

    that The Herald produced 3 articles on or around 10 February 1998 looking at Celtic’s accounts and proposed share issue including one in the business section with the headline

    “Business Comment. A matter of control. Celtic’s rose-tinted reportage fools no-one.”

    Can we hope for, without fear or favour, similar scrutiny of Mr Green’s accounts and proposals?


  38. Apparently Neil Alexander is a doubt for tonight with a shoulder injury, Gallacher (Gallagher) likely to play. I did mention they hadn’t got 14 months worth of cover in this position.


  39. exciledcelt says:

    September 18, 2012 at 11:20

    Now the fun begins

    To do a share issue, CG has to give all the financial background company. He also has to specify what he is offering as an entity for someone to buy shares in.

    Not only will he have to disclose who his 20 pals are, but we will see just how much our Geordie pal has put into T’Rangers – if anything at all.

    Financial plans – business models – future plans (SFL2 etc) and costing………

    All will have to be given to the Bears to digest – and us to pore over

    Unless he does a John Brown and takes 200 quid off an OAP………..wonder if he ever got reimbursed?

    http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4400806/Tom-first-to-stump-up-money.html#ixzz1z8QGh9mz

    ==========================================

    We’ll also be able to see what assets Sevco Scotland/TRFC actually own (Ibrox, Murray Park etc) or if they’re held by another entity (Sevco 5088 / A N Other)

    Will also be interesting to see if they’re debt-free as CG claimed.

    And ain’t it funny that they’ll be offering shares in the “Club”, when, according to the newclub deniers (CG included) and their many MSM apologists, the club and the corporate entity are two completely different things ….


  40. TSFM says:
    September 16, 2012 at 14:11
    132 3 i
    ================================================

    Iki, that’s 132 TU – for WordPress signing in and 3 TD, when the question was initially raised.


  41. Agrajag says:
    September 17, 2012 at 22:19
    45 0
    The CVA was never on, HMRC have made that entirely clear.
    Rangers and the Administrators knew this. They stole about £14m from the tax man in under a year ffs.
    This is why the “sale of assets” for a fixed sum was such a disgrace. The creditors were ripped off before the CVA vote even took place. The administrators stitched every creditor up in order to do what they could to keep Rangers afloat in one form or another. They went against their own duty to do it.
    I do not see how anyone can argue that the sale to Green was the best deal available. Bearing in mind that, at that stage, keeping the business going should not even be a consideration.
    Duff and Phelps acted against the best interests of the creditors from the moment they took over to the moment the “deal” was contrived. They did it knowing liquidation was inevitable.
    ,,,,,,,,,,,,,,,,,,,,,
    Agrajag
    If you add in some hidden extras(my additions), the sale of RFC assets for a fixed sum of £5.5m could be portrayed not as a great deal but as a silly deal for Green. One that could only have been done by a very very inexperienced businessman.
    By that I mean Sevco 5088 may not only have bought RFC assets they may also have bought RFC liabilities to Whyte(£27.5m), Close Leasing (guesstimate £3m), Ticketus (£26.7m) and The Scottish Sports Council(guesstimate £500k). By taking on these debts Sevco 5088 removed over £55m from the Creditor List. This entitled the rest of the Creditors to get a higher percentage. Removing Close Leasing and RFCG from the Creditors List also meant the entire pot would not be swallowed up by these two floating charge holders leaving HMRC and the rest with nothing. Adding these debts to the Sale Agreement also provides a legal defence to a charge of assets being sold below market value
    The fact that there is little or nothing left in the pot anyway wouldn`t change the legality of such a deal. Neither would the fact that the scenario outlined above seems preposterous for any purchaser to take on.
    All that matters is whether or not it is legal .
    ,,,,,,,,
    However
    There are two very high risk flaws in the Sale Agreement if it does indeed contain floating charges and the Ticketus contract
    i.e.
    All parties have to agree to an apparently preposterous deal. By doing so they are open to the charge of joining in a conspiracy to defraud Creditors. A conspiracy that started off on Feb14 with the deliberate aim of reducing the resale value of RFC to a level when such a deal could be argued as the best possible one that could be achieved for the Creditors.
    If the structure of the Sevco 5088 Purchase Agreement on 14 June was alohg the lines outlined above then it may well have been the trigger for the Crown Office announcement on 25 June of a Fraud Squad investigation into the takeover of RFC.
    And ( even more worrying for Green)
    If these debts have indeed been transferred to Sevco 5088 along with the assets, then it cannot be kept secret for long. Every Creditor is entitled to ask D&P if RFCG,Ticketus and Close Leasing are still on the Creditors List .If they have been removed then it could discourage ex RFC fans with serious money from investing in the fundraising .
    ,,,,,,,,,,,,,,,,,,,,,,,
    The mind boggles at the idea of all these Spivs being brought down by a Facepainter


  42. CW on September 18, 2012 at 00:36

    Brenda says:
    September 17, 2012 at 23:52

    justafan

    I am well aware that every team has a bad element to their support, nothing personal, but chuckie and ally have not helped matters with the sevco supporters who might have injured hand bones but hey I’m glad you’re one of the good guys

    —————————————————————————————————–

    The hatred between the “Green” half and the “Blue” half of Glasgow has alway’s intrigued me.

    I’m going to be a bit controversial here and suggest that neither half actually has “Supporters”, but rather “Sheep”, depending on what side of the Field you were born !

    That’s why you have 50,000 “Green” sheep one week, and then 50,000 “Blue” sheep the week after.

    The trouble is, even although the Sheep hate each other, they can’t live without each other, as they were all born in the same Field !

    Even worse, that field WASN’T on that Island across from Stranraer !

    This country (Scotland) needs a good clean out of the sectarian*sm from both “Green” and “Blue” sides. Only then will we progress into the 21st Century.

    Sorry that this isn’t going to go down well with the majority of posters here, but it’s true !

    On the upside, lots of Succulent Lam
    ——————————————————————
    Mate I agree with most of what you say, but that’s a lot of sheep and in my opinion 40% don’t exist because there are lots of people who do support their team and one helluva lot more that are not bigots on both sides
    @Brenda thanks and I love the glesgie banter lol. Oh ps that 40% sheep you where talking about are at the Afc corner of this blog(cheapshot I know but hey!!!)


  43. i had a post on here this morning in which i dared to agree celtic also had some fans who were big0ted, not as many as sevco but still there never the less.
    came back on an hour later and post removed?
    How can this ever be looked on as an impartial site when post after post condems rangers for their fans but the slightest suggestion that we have a problem is removed.
    Poor show.


  44. Could the extra £26.7m of creditor debt been primarily responsible for a no vote to the CVA ?
    1timtim says:
    September 17, 2012 at 17:37

    STV News 12th June 2012

    Paul Clark, joint administrator, said today: “We have been informed by HMRC they will not support the proposal for a Company Voluntary Arrangement at the meeting of creditors on Thursday, June 14.
    “As a result of this decision, the Sale and Purchase Agreement in place with the consortium led by Charles Green will take effect and Rangers Football Club will continue within a new company structure.”
    “The reasons HMRC have given to us for their decision to vote against the proposal are as follows. HMRC has cited its general policy of **not agreeing to a CVA where there is strong evidence of non-compliance by a company with its tax liabilities.”**

    The CVA was dead in the water on 14th February 2012 when Rangers Football Club went into Administration.

    Note Charles Green’s comment on 12th June

    “On a day of extraordinary drama, which came 120 days after the club entered administration, Green reacted furiously to the mid-morning news that the Revenue would not back his plan.

    ‘It’s massively disappointing and I think to some extent we have been misled by HMRC,’ he said.
    ‘Duff & Phelps have consistently said to me that they were in dialogue with HMRC and that they hadn’t rejected the CVA route.
    ‘Irrespective of what I was being told by HMRC, my own advisors at Deloitte have been in dialogue with them, too.
    ‘To see them today saying this is a policy decision leaves me speechless.
    ‘If that’s the case, is that a policy that was invented this week?

    Then, Mr Green, all your ”advisers” did not check the HMRC website or other sources to see that HMRC will NOT accept a CVA where **“there is strong evidence of non-compliance by a company with its tax liabilities.” ** A policy which was the case at the time of administration , (which HMRC forced earlier than Craig Whyte wanted!).
    However since then speech has been restored.

    The Vote on Thursday 14th of June was therefore a foregone conclusion. NO


  45. Spanishcelt,

    IMHO, you have always been whithout question one of the least partisan Celtic fans on here and RTC, I didn’t see your post in question, but can’t think why it was removed?


  46. miki67,

    Could I bother you for a link to that piece you posted at 12:23? I for one don’t believe that Craig Whyte will be allowed within two degrees of separation after all that’s gone on.


  47. Just read Jim Traynors latest piece, hardly worth getting annoyed about anything he writes anymore – he’s already been wrong about the Rangers situation all the way along thus far and his preaching has been irrelevant to the reality of the situation or what happens next, in short despite his self aggrandisement and pulpit style nothing he says really matters, he can’t change reality.

    Jim Traynor simply writes appeasement for Rangers as he mistakenly believes that’s what his core customers want to hear, however he & his colleagues probably costs his newspaper an equal or greater amount of lost sales in a rapidly diminishing market by continuing with this type of reporting and narrative.

    The only way the Daily Record, Jim Traynor and the rest of the mainstream newspaper media can reverse declining sales is by starting with doing their job properly, report the facts, offer critical analysis and thinking not just Rangers mouth-piece, make their content stuff people actually want to read instead of increasingly ignore as irrelevant rubbish.


  48. miki67 says:

    September 18, 2012 at 12:23

    In time honoured tradition “Wow, just wow”.

    Really?!? THE Craig Whyte? THE Dave King? etc. Surely someone in the fraud investigation must be able to find/prove something wrong in this scam.


  49. You want to offer me shares in your company/club ?
    Is it the company or is it the club?
    Is it both? If so, what’s the split of investment, company vs club?
    Let me see the (audited) accounts for the ‘entity’ I will be investing in ?
    Can I see the list of all the current major shareholders?
    When can I expect a return/dividend on my investment ?
    So all questions will be answered after I invest ?
    Sorry, I’m out.


  50. Perry Whyte says:
    September 18, 2012 at 12:40

    This is what it really says

    ===============================

    Specialist institutional securities firm Cenkos Securities has appointed Mike Chilton, Paul Hodges, Joe Nally and Jeremy Warner Allen as executive directors of the company and members of the board, subject to approval from the Financial Services Authority.

    The non-executive directors called for the appointments to the board to strengthen the company’s leadership, represent the interests of its shareholders and ensure regulatory governance. The four new members of the board will serve under Jim Durkin, current chief executive officer.


  51. neepheid says:
    September 18, 2012 at 10:39
    8 0 i
    Rate This

    Am I the only person on here who harbours the strong suspicion that Green is basically just a front man for Whyte? If my suspicion is correct, then Whyte has played an absolute blinder. He ends up owning Ibrox and Murray Park, having put in nothing of his own money, except the pound coin he handed “Sir” David Murray. He might even have extracted a few million of the Ticketus money, just to cover expenses, etc.

    Now here’s an even more extreme theory. Is Whyte, in turn, really the front man for SDM? Allowing SDM to retain the keys to Ibrox and Murray Park (both very dear to his heart) while getting rid of those inconvenient creditors? Of course we may never find out. That’s what British Virgin Islands companies and trusts are for- to conceal the truth. And on past performance, Whyte won’t be talking unless he ends up in the dock.Of course the truth is out there somewhere. Somebody must know, apart from Murray, Whyte and Green. I wonder how Strathclyde’s finest are getting on with their investigation?

    ============================================================================

    Neepheid…absolutely spot on with your assertion re BVI. That is why they are more accurately described as “secrecy jurisdictions” as opposed to “tax havens”.

    Just when I think of it, maybe that is where the MSM have their “base”…on a secrecy jurisdiction/tax haven…that way they “can conceal” the truth!


  52. stevensanph says:
    September 18, 2012 at 08:39

    In almost all the ones I checked, the risk of knee and ankle ligament (like the injury sustained by Templeton) is increased. The NFL study found an 88% increase – this study of Norwegian football over 3 years found a 31% increase.

    ———————————-

    Did the studies also show the risk was further increased for players playing for clubs calling themselves The Rangers?


  53. Bigrabbit says:
    September 18, 2012 at 12:30

    ==================

    The CVA was rejected by HMRC because Rangers stole a huge amount of money in under 1 year. They collected PAYE and NI from employees in addition to VAT from customers and simply spent the money rather than paying their tax bills.

    Everyone knew the CVA would be rejected under those circumstances, including the administrators, the owners of the existing business, and the owners of the new business. There was no way it was going to be agreed.

    The “sale of assets” if a CVA fails was a farce. It was designed to make it look like Green would pay £8.5m to the creditors to take control of the existing business but the big bad revenue blocked that so it was only £5.5m.

    It was a con trick which they were all involved in, talk about smoke and mirrors, Mr Murray has nothing on this lot.


  54. blu says:
    September 18, 2012 at 12:04
    Iki, that’s 132 TU – for WordPress signing in and 3 TD, when the question was initially raised.
    =========
    132 v 3 ………. almost unanimous !


  55. Jimmy Bones @ 08:59

    l’m a bit stumped then. Sent from (my real name) @ ntlworld.com.

    I could try posting the contents somewhere like The List section but it may just turn into an unformatted mess.
    Open to suggestions.


  56. Mods – could you delete miki67’s post of September 18, 2012 at 12:23

    It’s completely fabricated and untrue.


  57. miki67 says:
    September 18, 2012 at 13:05

    Oh well….I cannot be held responsible for what others post on the internet. I am merely as gullible as all t’rankers fans being taken for complete mugs by Green et al…..as we have all been taken for mugs by rfc.
    If they can’t hande the heat……

    Was that an apology and retraction? It doesn’t sound like one.


  58. A few folk have queried what Jim Traynor and the rest of the MSM are up to with their ‘lets all move forward and forget what happened’ stories. To use a physics analogy I think what they are up to could best be described as

    “Journalistic lensing” – whereby the density of the argument bends the facts to such an extent that only the writer’s version of events remains visible to the reader’s eye. There is literally nothing to see here.

    Trying to glean any truth or genuine facts from any of their articles would really require specialist lab equipment.


  59. Night Terror says:
    September 18, 2012 at 13:15

    Mods – could you delete miki67′s post of September 18, 2012 at 12:23

    It’s completely fabricated and untrue.
    ———————

    Pretty funny though.


  60. Alex Cox says:
    September 18, 2012 at 10:38
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    2 things…

    First up the club needs to be converted into the company in the same way the old club was converted to facilitate the floatation of shares..

    Secondly…who will risk under writing the shares? and for how much?


  61. Edgar – its not funny sorry

    Everyone over in RM etc are all saying we make stuff up – and hey ho there is something they can show to say – see

    Miki67 – that was stupid sorry


  62. miki67 says:
    September 18, 2012 at 13:05

    Easy rule of thumb.

    If you see something that may be of interest then cut and paste a key section of text and put it into Google.

    If it is real the search will get you to or close to the original source.

    The you can copy in a link to the source in your post here to back up your findings and to give everyone a chance to look at the original source for themselves


  63. Now here’s an even more extreme theory. Is Whyte, in turn, really the front man for SDM?
    —–
    I don’t think so. My view is that Murray had been trying to sell Rangers for a while, but most of the potentially interested parties in the Scottish/sporting business world were aware of the toxic debt time bomb even though it turned out to be far bigger than they could have imagined.
    Fortunately Whyte hove into view. With Murray’s knowledge of the business world it is inconceivable that he did not know Whyte’s back ground. In fact it was probably Whyte’s background that interested Murray because he was the perfect fall-guy. Previous disqualification as a director and a strong aroma of previous shady deals was exactly the kind of CV that Murray needed. With Rangers safely in Whyte’s hands all he had to do was sit back and wait two or three years until Rangers went bust and all the fingers would be pointed at Whyte.
    What Murray hadn’t bargained for was that Whyte would welch on his VAT and employer contribution payments almost immediately leaving the taxman no alternative than too press for liquidation after a far shorter interval than Murray had planned for. He’s been wriggling on the hook of that inadequate separation ever since.
    What then is Green’s connection to either of them? Well, at present we just don’t know. It seems unlikely that Murray, having just got rid of Rangers would want back in, even through intermediaries. As I say, what he wants now is distance between himself and any events or activities that he can be held responsible for. Green, however won’t reveal who is backers are. Transparency seems to be a completely alien word to anyone involved in this whole affair, including of course the football authorities. I mean, who are these people? What are their names? etc etc


  64. Night Terror says:
    September 18, 2012 at 13:18

    @miki67

    What is wrong with you? That article you posted is utter nonsense.

    Was that an apology and retraction? It doesn’t sound like one.
    ===================================================
    NT, have you heard of cyber bullying, that is what you are doing here, you made your point, you weren’t happy, no need for 3 posts in a couple of minutes.

    Miki, I thought it was funny and seen it as wind up on first reading, if others didn’t , oh well.
    You never posted a link which to me was the giveaway, whether you meant it or not.
    Keep posting, theres enough moderation going on around here without others starting.


  65. Can’t believe my last post, which was to see if my posting on the blog was still working….after computer failure and pending forthcoming changes, received 6TDs! Are some folk there taking the proverbial? Have they nothing better to do?


  66. miki67 says:
    September 18, 2012 at 12:23
    Cenkos Securities adds exec team to board
    Specialist institutional securities firm claims the four latest additions to the board will better represent shareholder interests.

    By Michael Treudeau | Published Sep 08, 2012
    ——————————————————————-

    Where is this reference, please? I can’t find it.


  67. OOPs, my last post now seems to have been far too late. Neve rmind.

Comments are closed.