Charles Green – What Will Football’s Authorities Do?

Avatar ByElijah Baley

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

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Elijah Baley subscriber

1,814 Comments so far

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Fritz AgrandoldteamPosted on1:46 pm - Sep 18, 2012


Tic 6709 says:
September 18, 2012 at 08:00

The FOI is a con! I have tried it on an unrelated matter without success. They have so many “cop out” loopholes – a bit like the ombudsman. They’re only there to give Joe Soap the impression that governments, both Scottish & UK, have a transparency policy, and the ordinary citizen,sorry – I mean royal subject, has any influence.

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briggsbhoyPosted on1:52 pm - Sep 18, 2012


Paddy Turner says:
September 18, 2012 at 07:39

Paddy, CQN is what it is, Celtic Quick News it is not a blog nor a forum. I had referred to the fact that I disliked blogs and club supporters websites where, within forums, faceless arses can spill their bile, threaten and misinform, a total contrast to this civil and fantastic multi supporter blog. I was taking up a point highlighted by DTS in that I concurred with him that many of these forums and blogs run by my seperated brethren were full of bile. On sites such as RM where anyone opposses or questions information that is given as fact they are castigated as tattie munchers (that’s the mild version I hope gets past this monitor) and the objective seems to be amongst posters is who can be the most insulting to those exsposing the truth or questioning facts. Justification for such bile is often because “we or they are the ppl”. Admittedly I had infered that I had a fear of visiting CFC supporter sites for fear of finding they were as bad and I mentioned KDS. My good friend Stmiley was good enough to highlight that my fears were unfounded and that KDS was in fact a well run site where such abusive language was not tolerated.

So Paddy thanks for bringing to my attention the CQN site but I had come across it previously as I surfed the net for news on my team. I have now taken the opportunity bookmark it as one of my favourites along with others sites who promise they will bring me updated topless pictures of our future Queen! lol.

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thomthethimPosted on1:56 pm - Sep 18, 2012


Can anybody hear me?

TUs and TDs accepted

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BigrabbitPosted on1:57 pm - Sep 18, 2012


Alex Cox says:

September 18, 2012 at 12:58

Exactly

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neepheidPosted on1:59 pm - Sep 18, 2012


Don John says:
September 18, 2012 at 13:30
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
===================
Exactly. If this whole Sevco venture was a straightforward business deal, then Green would have kept his promise to the “Peepil”, and revealed all regarding his 20 investors. In fact he has revealed nothing. I wonder why?

As part of the membership transfer saga, I assume that Green made a full disclosure to the SFA regarding the true ownership of Sevco. Or did he? And was he even asked to?

Next we have the IPO, we are told. Whatever market Green tries to float Sevco on, there will be significant disclosure requirements regarding current ownership. I wonder whether that will produce anything other than a list of mysterious BVI companies?

As regards my extravagant theory, SDM wanted a good distance between himself and RFC, as you say. And as you point out, Whyte was perfect for that purpose. He has taken a load of flak that should, by rights, have been aimed at SDM.

But that is all on the surface. That is what we are supposed to see- SDM walking away. And given the characters involved, when they want me to see things in a certain way, my instinct is to see things differently. The truth is a complete stranger to these people. When their mouths open and a noise comes out, you know they are lying.

Does SDM do walking away? Has SDM really handed over the keys to Ibrox and Murray Park? Ah hae ma doots, as my revered granny would doubtless have said.

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insidewingerPosted on2:00 pm - Sep 18, 2012


Cenkos Securities are,as far as I know, a reputable securities firm. I should say that they are clients of my firm, an offshore fund administration firm.

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WOTTPIPosted on2:03 pm - Sep 18, 2012


miki67 says:
September 18, 2012 at 13:29
3 1 i
Rate This
A used and abused mug.
Can TSFM delete that post.
In fact, I am now getting pretty angry at myself. Funny though that may be.
==============================================================

Miki
Keep smiling.

This kind of thing happens from time to time.
I’ve been taken in by some non footballing stuff before on the web but just managed to get my brain in gear before passing on the info to my mates and making an erky of myself.

The good thing about this site is that people don’t take the first thing they see as being gospel.
The wheat is sorted out from the chaff pretty quickly.

Which of course appears not to be the case on some other sites.

Lets just say you have done us a favour in terms of quality assurance by throwing in a dummy to see if we are all paying attention 🙂

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john clarkePosted on2:07 pm - Sep 18, 2012


Alex Cox says:
September 18, 2012 at 08:46
‘….I beg to differ, I and others I know have been predicting this implosion for several years..’
—————-
I accept the correction: perhaps I should have said that very many people in Scotland and elsewhere would not have thought it likely or probable that the club would fold, even if they had taken an interest in the finances.

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thomthethimPosted on2:08 pm - Sep 18, 2012


miki67,

It was a good one, but, I’m afraid Awe Naw’s brand of editing, understandably, doesn’t go down too well on here.

As you know, this site and it’d predecessor tries to maintain a more serious view on the evils of Scottish football, therefore it requires a more sober approach to posts.

Anyway, I’ll see you next door on CQN.:>)

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TheBlackKnightPosted on2:10 pm - Sep 18, 2012


http://www.rangers.co.uk/news/headlines/item/2219-club-statement

*CLUB 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.”

******************************************************************************************************************

Hmmmmm *CLUB vs Company again – who’s buying shares in which entity?

*Club has appointed Cenkos
*Club has appointed Capita Registrars
Fans have the opportunity to purchase shares in *THE Rangers Football Club (assuming this is a PLC) PLC.

The Chief Exec of Rangers (the company) 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”

Really? – I’m certain Mr Green and Duff & Phelps said that the consortium had purchased the “ASSETS” of the *Club?

So this IS the same *Club. Hope all the creditors are aware!

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Doon the slopePosted on2:26 pm - Sep 18, 2012


Have just had a wee look over on CQN, E-Tims and KDS. Utterly shocked at what I saw.

There were 24 ‘flipping hecks”, 17 “damns” and inumerable “Jeezo’s.”

Who on earth is moderating these sites? They should get their f@cking fingers out their @rses and start kicking b@lls, the tw@ts!

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BigrabbitPosted on2:30 pm - Sep 18, 2012


“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.”

If this is the intention read the pdf files here:-

http://www.londonstockexchange.com/companies-and-advisors/aim/for-companies/joining/aim.htm

Downloads
Joining AIM guide ( file pdf – 2 MB)
Admission timetable (illustrative example)( file pdf – 525 KB)
AIM Rules for Companies ( file pdf – 921 KB)

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timtimPosted on2:33 pm - Sep 18, 2012


You know this case is complicated, imperfect and oppressed
And it’s not hard to feel timid, apprehensive and depressed.
It seems that all around us tides of questions ebb and flow
And people want solutions but they don’t know where to go.

Opinions abound but who is wrong and who is right.
People need a prophet, a diffuser of the light.
Someone they can turn to as the crises rage and swirl.
Someone with the remedy, the wisdom, and the pearl.

Well, they should have asked Jim Traynor, he’d have told’em then and there.
His thoughts on EBTs, dual contracts and rules not fair,
The future of the Scottish game, players wages in the south
The wait for signing contracts, D+P with foot in mouth.

Yes, they should have asked Jim Traynor he can sort out any mess
He can rejuvenate the Rangers he can cure the pit of cess
So any little niggle, anything you want to know
Just run it past Jim Traynor, wind him up and let him go.

He’ll clarify the situation; he will make it crystal clear
You’ll feel the glazing of your eyeballs, and the bending of your ear.
Corruption at the top, he’s an authority on that
And the Mafia, Uefia and how to not lose fat.

Upon these areas he brings his intellect to shine
In a great compelling voice that’s twice as loud as yours or mine.
I often wonder what it must be like to be so strong,
Infallible, articulate, self-confident …… and wrong.

When it comes to tolerance – he hasn’t got a lot
RTC should be guillotined , Cosgrove should be shot.
The sound of his own voice becomes like music to his ears
And he hasn’t got an inkling that he’s boring us to tears.

The people don’t call so often, they have busy lives I know
But its not everyday you want to hear a windbag suck and blow.
The book of rules, on them we never have to call
Why clutter up the bookshelf when Jim Traynor knows it all!

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WOTTPIPosted on2:58 pm - Sep 18, 2012


Bigrabbit says:
September 18, 2012 at 14:30

“Special conditions for certain applicants
Lock-ins for new businesses
7. Where an applicant’s main activity is a business which has not been independent and
earning revenue for at least two years, it must ensure that all related parties and
applicable employees as at the date of admission agree not to dispose of any interest in
its securities for one year from the admission of its securities.”

It will be intersting to see if Charley Boy locks himself in for a year by making a personal investment.
If McCoist does invest then gets the sack that will be a bit of a laugh.

If they get it up an running before the end of this year that will give everyone time to sort out their exit strategy before they have to start shelling out cash on new players come the end of the embargo and the Jan 2014 transfer window.

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Don JohnPosted on2:58 pm - Sep 18, 2012


1. neepheid says:
September 18, 2012 at 13:59
—-

I take your point but there may be other reasons why Green has not revealed his backers. They may be the kind of people who don’t like being in the public eye, for legitimate reasons or otherwise. The public issue might flush them out but some means might be found to ensure they remain in the background. Commercial confidentiality is a fantastic cover up for all sorts of things.
To re-iterate I still think Murray is out of it, but whether Whyte is still lurking around remains to be seen. In fact refresh my memory here – was the deal to sell to Green not based on Green getting a CVA? As we all know he didn’t get it, being apparently the only person in the world apart from Jabba who was surprised by HMRC operating in accordance with long established custom.

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AngusPosted on3:00 pm - Sep 18, 2012


CG: “From the outset, the consortium which purchased the Club …”
——

More obfuscation. I thought no-one could purchase the “Club” because it was an ethereal “entity” which existed above drab things like companies, the law and so on.

Sevco did not even purchase the “company” RFC(IA). It is allowed to remain on its death bed, unloved and unsupported, whilst an entirely new “company”, Sevco, purchased “assets of the old company”.

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ikiPosted on3:07 pm - Sep 18, 2012


Don John says:
September 18, 2012 at 14:58
As we all know he didn’t get it, being apparently the only person in the world apart from Jabba ……
======
….. and Roddy Forsyth.

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stmileyPosted on3:13 pm - Sep 18, 2012


Notice of Complaint issued: Charles Green
Tuesday, 18 September 2012

Alleged Party in Breach: Charles Green (Rangers)
Date: On or around 12th September 2012
Disciplinary Rule(s) allegedly breached:

(1) Disciplinary Rule 66 (Bringing the game into disrepute by calling into question the integrity of the Commission, chaired by Lord Nimmo Smith and appointed by the Scottish Premier League Limited (“SPL”) to examine alleged breaches of the SPL’s Rules regarding the use by Rangers PLC and Rangers FC of Employee Benefit Trusts to pay players, by suggesting in a media interview that the outcome and sanction of said Commission had been pre-determined by the SPL.)

(2) Disciplinary Rule 71 (Not acting in the best interests of football by calling into question the integrity of the Commission, chaired by Lord Nimmo Smith and appointed by the Scottish Premier League Limited (“SPL”) to examine alleged breaches of the SPL’s Rules regarding the use by Rangers PLC and Rangers FC of Employee Benefit Trusts to pay players, by suggesting in a media interview that the outcome and sanction of said Commission had been pre-determined by the SPL.)

Principal Hearing Date: Thursday, 4th October 2012

Mr Green has until Monday, 24th September 2012 to respond to the Notice of Complaint.

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. Furthermore, such person or body shall not act in any manner which is improper or use any one, or a combination of, violent conduct, serious foul play, threatening, abusive, indecent or insulting words or behaviour.

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john clarkePosted on3:14 pm - Sep 18, 2012


Bigrabbit says:
September 18, 2012 at 14:30
‘…Downloads
Joining AIM guide ( file pdf – 2 MB)
Admission timetable (illustrative example)( file pdf – 525 KB)
AIM Rules for Companies ( file pdf – 921 KB)….’
—–
Thanks for that link, Br. I now have learned a whole lot more useful finance stuff,and I look forward to the Prospectus being issued.

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TSFMPosted on3:14 pm - Sep 18, 2012


Spanishcelt
The post was not removed because of its sentiment, much of which I agree with. It was removed because the language was severe and capable of being deliberately misconstrued.
Feel free to repost with appropriate editing 😉

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TheBlackKnightPosted on3:15 pm - Sep 18, 2012


TheBlackKnight says:
September 18, 2012 at 14:10

Seems STV have a different take on the statement – why would that be?

http://local.stv.tv/glasgow/190703-rangers-appoint-finance-firm-to-oversee-share-issue-in-october/?utm_source=twitterfeed&utm_medium=twitter

“Rangers appoint finance firm to oversee share issue in October”

“Rangers have appointed a firm to oversee an issue of shares in the newco next month.

On Tuesday, the Ibrox club released a statement confirming it had hired Capita Registrars to provide “share registration services”.

This comes after the Sevco consortium that bought the club’s assets in a £5.5m deal appointed London-based corporate brokers Cenkos Securities to assist with “plans to raise further capital” earlier this month.

The Rangers Football Club Ltd, formerly Sevco Scotland Ltd, stated that further details on the share issue will be released shortly but “expects that fans will have an opportunity to register their interest in purchasing shares in The Rangers Football Club in October”.

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.”

Capita Registrars has acted as registrars for Cenkos and is part of the Capita plc group, which describes itself as “the UK’s leading business process outsourcing and professional services company”. Capita plc made a £190m profit before tax in the first six months of this year.

Mr Green has been behind the drive to sell almost 36,000 season tickets at Ibrox, and confirmed in an interview with the club’s official online TV channel in May that his consortium’s objective was to profit through a share issue.

He said: “I said on day one I wasn’t coming here because I was the Salvation Army and I came here to make money. I make no apology for that and the reality is that any money I make will be in the form of shares but it’s conditional on three things being achieved.

“The debts of the club need to be removed, we need to get finance into the club and I need to list the club on an appropriate exchange. Until those three hurdles are overcome, I won’t achieve anything and there is a percentage of the newly-enlarged company that will come to me once it is done.”

He claimed newspaper reports that he would receive a £4m bonus should Sevco’s share issue succeed were wrong and insisted “in terms of reward, it’s probably going to be the lowest I’ve ever been paid. It’s a performance-related structure and I believe that’s appropriate”.”

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TheBlackKnightPosted on3:24 pm - Sep 18, 2012


CG – *The Rangers/ Sevco chairman

(1) “The debts of the club need to be removed”
(2) “we need to get finance into the club”
(3) ” I need to list the club on an appropriate exchange”
(4) “Until those three hurdles are overcome, I won’t achieve anything and there is a percentage of the newly-enlarged company that will come to me once it is done.”
*************************************************************************************************************************

Hmmmm,,,,,,

1. I though Mr Green glaotingly said *The Rangers / Sevco Franchise were a “debt free *club”?
2. I thought there were several (20?) millionaire/ billionaire investors?
3. “I”?? Strange statement. Is that part of ‘HIS’ agreement for ‘HIM’ to get the NEWCO listed?
4. A newly enlarged company? Whatever could he mean?

I also see Mr Green is having his collar felt somewhat by the FA….. What happens with continual disrepute charges? Two slaps on the wrist?

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smartie1947Posted on3:25 pm - Sep 18, 2012


Meanwhile in RM World, the only thrust on the share issue thread is whether Capita is a reputable enough Company “to represent us”. Did they not sue us last year?
Much talk of buying a share @ £1 to frame and hang on the wall.
That should encourage CG !

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stmileyPosted on3:35 pm - Sep 18, 2012


smartie1947

£1 to Green, £15 to Framer.

Sounds a bit like the £1 ticket, £15 programme idea.

Chuckles won’t be happy.

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Paddy TurnerPosted on3:41 pm - Sep 18, 2012


FAO…

miki67 + a.n.othergullible……..

The ones to look out for;

CQN >>>>Anaw

KDS >>>> Tinsodjer

RM >>>> Any poster who uses a coma in the post

VB >>>>>Any Post without a sweary or the word T*ig.

FF >>>Any Post

Hope this helps…

Paddy T

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ReadceltPosted on3:42 pm - Sep 18, 2012


Another good article in the guardian from Greenslade. Can’t put the link on from my phone. Can someone oblige?

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ikiPosted on3:54 pm - Sep 18, 2012


TheBlackKnight says:
September 18, 2012 at 15:24
Two slaps on the wrist?
===========
This will be suspended whilst Court of Session is asked to deliberate upon …… 2 slaps on the same wrist and, if so, which …sinister or dexter ?

If slaps are to be on separate wrists, in which order will slaps be administered?

Will the slapper be named?

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SteviePosted on3:54 pm - Sep 18, 2012


TheBlackKnight says:
September 18, 2012 at 15:24
4 0 Rate This
CG – *The Rangers/ Sevco chairman

(1) “The debts of the club need to be removed”

————————————————————

ticketus written all over it.

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Paddy TurnerPosted on3:55 pm - Sep 18, 2012


briggsbhoy..from earlier….If it’s not a Forum; what do you believe CQN to be?

Take a chance on me……join up and make only the one post…….”ask who Edward Ursus is/was”

Paddy T

Q – where did that we Square Pants thing over yonder come from >>>>>>>>>

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TheBlackKnightPosted on4:01 pm - Sep 18, 2012


iki says:
September 18, 2012 at 15:54
“………..2 slaps on the same wrist and, if so, which …sinister or dexter ?”

LOL…… I know you meant “sinistra o destra” but I somehow prefer yours…. 😉

I demand to know who the slapper is too!

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Paddy TurnerPosted on4:09 pm - Sep 18, 2012


Flippin heck………….Dick King’s been sacked………….belter….

Cannae believe it; but there you go……. Amazing the power of the Blue £.

Paddy T

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WOTTPIPosted on4:11 pm - Sep 18, 2012


Readcelt says:
September 18, 2012 at 15:42

http://www.guardian.co.uk/media/greenslade/2012/sep/18/rangers-channel4

note that includes the lovely footnote

“I am sorry to say I find it necessary to keep comments off due to the level of unwarranted abuse last time I deal with this subject, which is another important facet of this story”

Methinks they will not be making many new friends at the Guardian either.

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SouthernExilePosted on4:11 pm - Sep 18, 2012


Cenkos seem to be a well established and reputable business which acts as a broker for small and mid cap firms looking to raise money on the AIM exchange. It has a turnover of around £50m pa and raises around £1bn pa for its clients. The role is highly regulated as the Cenkos annual report confirms:

Regulatory risk
The Company and its principal subsidiaries are regulated entities. The Board, Executive Management Committee and Group Compliance have established a strong culture of regulatory and legal compliance throughout the Group. There is strict adherence to applicable regulation, focusing particularly on our ongoing obligations and responsibilities as an AIM nominated advisor (Nomad) and a UK Listing Authority (UKLA) Sponsor. Cenkos continues to focus heavily on prudential risks to ensure the appropriate systems and controls, reporting, capital and liquidity requirements are in place to meet the ongoing obligations of an FSA regulated (BIPRU Investment) firm.

———————

In short, the notion that Cenkos would conspire with Mr Charles in anything dodgy is absurd. It would be instant business death for the firm and none of the principals would work in the City again.

Green faces three challenges:

– meeting the very strict disclosure requirements for an AIM listing (see links to these posted by others today)

– doing this in a way which does not reveal the nefarious goings on to date

– convincing anyone sane to part with their money in any meaningful quantity

I do not believe for a moment that this can be done, but if he pulls it off he certainly will be businessman of the year.

Open a bottle, light a cigar, lean back in the chair and enjoy the fun.

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chancer67Posted on4:22 pm - Sep 18, 2012


Right on cue CG announces a share issue and the SFA help him out by announcing he is up on a disrepute charge.
The bears are off to the post office 2moro to lift the life savings and heed Charlies call to arms….could only happen in the best wee country in the world.

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WOTTPIPosted on4:29 pm - Sep 18, 2012


chancer67 says:
September 18, 2012 at 16:22

Of course if the SFA didn’t pull him up on his latest outburst we would be the first to ask why not.or what’s the delay.

At least they have got their act together and issued this pretty quickly.

Having already been given a smack on the wrist,Shirley it must be a fine this time round.

Lets face it nothing will make a difference, the mark in the sand has been drawn and it is one that says “Nobody likes us and we don’t care”.

The decent T’ Rangers fans are now just going to have to live with that.

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StevieBC

StevieBCPosted on4:29 pm - Sep 18, 2012


SouthernExile says:
September 18, 2012 at 16:11

…In short, the notion that Cenkos would conspire with Mr Charles in anything dodgy is absurd…

I do not believe for a moment that this can be done, but if he pulls it off he certainly will be businessman of the year.
====================
I
I concur SE – just can’t see a share issue happening – and as quickly as CG would like.

Again, the Prospectus would make interesting reading, and would pose a real challenge for CG: the content would have to be both reasonable – and truthful.

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neepheidPosted on4:29 pm - Sep 18, 2012


Don John says:
September 18, 2012 at 14:58.

In fact refresh my memory here – was the deal to sell to Green not based on Green getting a CVA?
===========
From memory, D&P agreed with Green a price of £8.5m conditional on a CVA, but in terms that if the CVA was rejected, he got the lot for £5.5M. Now can anyone tell me why any Administrators would cut such a deal, so clearly against the interests of the creditors? Enter Mr Whyte, in my opinion, whose chosen Administrators these were. There have been several posts on here claiming that Whyte’s floating charge over the company’s assets is currently held by Whyte’s father. That is in excess of £20m. Sir David Murray in effect let Whyte have this for £1- I’m not sure whether I’m smelling rat or fish here. Maybe both.

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easyJamboPosted on4:33 pm - Sep 18, 2012


Celtic reporting a loss of £7.37M for last season.

Also demonstrates their reliance on European income. With unhidered access to Euro income for the next few seasons, they should be able to be profitable if they avoid any stupid results and performances in CL qualifying.

CELTIC plc have published the preliminary results for the year ended June 30, 2012.

SUMMARY OF THE RESULTS
Operational and Financial Highlights

• Winners of the SPL
• Runners up in the League Cup.
• 4 home European matches (2011: 2).
• Group revenue £51.34m (2011: £52.56m).
• Investment in football personnel of £5.24m (2011: £10.29m).
• Year-end net bank debt of £2.77m (2011: £0.53m).
• Loss before taxation of £7.37m (2011: £0.10m profit).
• Operating expenses before exceptional items £54.44m (2011: £52.50m).
• Loss from trading before asset transactions and exceptional items of £3.09m (2011: £56,000 profit).
• Exceptional costs of £0.54m (2011: £3.99m)

CHAIRMAN’S STATEMENT
Our primary objective for the financial year to 30 June 2012 was to win the Scottish Premier League title and provide a route to the Group Stages of the UEFA Champions League. I am delighted to be in a position to report that this objective was fulfilled. Having recovered the SPL title in May, we then qualified for the Group Stages of the UEFA Champions League after defeating Helsinki and Helsingborgs in the third qualifying round and play-offs. Our reward is participation in the highest echelons of European football for the first time since season 2008/09.

The financial benefits of achieving our goal are material, but they are not reflected in these annual results, full details of which are contained in the accompanying reviews and information. In summary, they show a slight decline in turnover to £51.34m, an increase in operating expenses of £1.93m and an overall loss in the period of £7.37m against a very slight profit the year before.

Our net bank debt position at the year-end rose as a consequence, but careful management of cash from various transactions meant that the increase in this measure of debt has been limited, rising from £0.53m in June 2011 to £2.77m in June 2012.

The key dynamic, not reported in these numbers, is the strategy employed by the Board in regard to the player pool. At the half year, I reported that we had made and were continuing to make sizeable investments in new players, so as to strengthen the squad with a view to achieving our primary objective. At the same time, we consciously resisted opportunities to trade players for the sake of short-term profit.

This considered approach has paid off. We are now in the position that we will enjoy enhanced revenues from European participation, where we will compete with the benefit of an exciting squad that has great potential. An integral part of our careful player pool strategy has been finding and developing young talent, both domestically and from abroad. The numbers of young players, especially from our Academy, meeting the standards necessary to break through to the senior squads has been extremely encouraging.

The success of that strategy this year and the strength in depth it has provided, has enabled us to realise some profit by selling on Ki Sung Yueng. The gain made from that sale, together with the earnings from the initial two UEFA qualifying rounds, have assisted our position over the summer, with the UCL Group Stage still to come. Our supporters and sponsors continue to back us through season tickets, multi media products, merchandising and contract renewals.

Achieving the playing success we all seek, while managing the player pool and cost base sensibly throughout the year, requires considerable skill, foresight and fortitude. This is and always will be a team effort, for which Neil Lennon, his backroom team and players, Peter Lawwell, and all our staff should take credit.

The 2011/12 season brought unprecedented turmoil and pressures upon Scottish football, making an already difficult economic environment more difficult still. Celtic Football Club has navigated its way through all of this with the advantage of a stable and resilient financial platform and an intelligent business and football strategy.

But no matter what challenges we may have faced during the year, we cannot lose sight of those less fortunate than ourselves. During the year our colleagues in Celtic Charity Fund continued their efforts to help improve the lives of others. Among the many projects undertaken, the Legends match last August stands out. As a result of the efforts and generosity of all those concerned, over £330,000 was raised for Oxfam’s East Africa appeal, helping to alleviate deprivation and starvation in that part of the world. That evening was a great occasion, for an even greater cause and one worthy of this Club’s traditions.

In those activities, and in our other work throughout the year, our fans, shareholders, staff, sponsors and business partners have backed us. I thank you all for that support.

Ian P Bankier
Chairman
September 18, 2012

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nickmcguinnessPosted on4:36 pm - Sep 18, 2012


So Chuckie Green needs to get the debt out of his self-proclaimed “debt-free” club.
Could he be referring to the debts still owed to Ticketus and Craig Whyte?
Hmmmm . . . the prospectus for this share offering should be a cracker.
And I’m still betting on Cenkos being replaced by Allenby Capital.

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ParmaHamsterPosted on4:38 pm - Sep 18, 2012


chancer67 says:
September 18, 2012 at 16:22

The bears are off to the post office 2moro to lift the life savings and heed Charlies call to arms….could only happen in the best wee country in the world.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

And we all know some Bears’ reputations when it comes to ‘lifting’ from post offices – especially down South Ayrshire way….:)

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easyJamboPosted on4:52 pm - Sep 18, 2012


A quick look at Celtic’s accounts, shows that the loss was primarily down to a mix of less favourable transfer dealings, higher operating expenses and lower income.

For some reason, they haven’t disclosed their salary costs as a separate figure at this time although this may be revealed when the final version of the accounts is published.

Season ticket sales were down by around 2,200 to 42,500 (How many have been sold this season?)

CL football should give the club the best part of a £20M boost this season as will recent transfers, so I’d expect a profit in the range £10M-£12M next season.

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Paddy TurnerPosted on5:00 pm - Sep 18, 2012


avator test 1 2

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Blindsummit63Posted on5:09 pm - Sep 18, 2012


Celtic reporting a loss of £7.37M for last season.

Also demonstrates their reliance on European income. With unhidered access to Euro income for the next few seasons, they should be able to be profitable if they avoid any stupid results and performances in CL qualifying.

CELTIC plc have published the preliminary results for the year ended June 30, 2012.

SUMMARY OF THE RESULTS
Operational and Financial Highlights
_______________________________________________________

These are the PLC results. I’d like to see the football club results, you know that etheral body owned by the company .

In fact here’s a cunning wheeze for Celtic and other clubs posting a loss. It’s a tried and tested method for removing debt in Scottish football.

Celtic should go into administration, set up a new plc, sell the ethereal football club to the new plc for dirt cheap and then liquidate the old company, thereby stiffing the creditors. Voila! Debt free “football club”! repeat as often as necessary.

Genius!

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tearsofjoyPosted on5:14 pm - Sep 18, 2012


From CGs statement – “The debts of the club need to be removed

What debts is he talking about ? Can someone clarify ?

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BrendaPosted on5:21 pm - Sep 18, 2012


Apologies if this has already been covered (little time to read all posts!) but can chuckie do the share thing IF…. BDO can null and void him buying some of the assets etc etc. Will he not have to wait till that’s all cleared up???? Lol I know it’s sevco and they do as they please 🙂 indulge me someone?

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CEPosted on5:26 pm - Sep 18, 2012


http://www.bbc.co.uk/sport/0/football/19640322

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JustinianPosted on5:28 pm - Sep 18, 2012


easyJambo says:
September 18, 2012 at 16:52

Season ticket sales were down by around 2,200 to 42,500 (How many have been sold this season?)
________________________________________________________________________

For the forthcoming Hearts fixture on 7th October – 45,688 seats are unavailable for allocation.
With 2 Home fixtures prior I have my doubts that many ‘pay per match’ Celtic punters have lumped on at this juncture.

The Hearts allocation is not included in the above figure (1,000 EJ?)

Neither are the special /investment Celtic Club areas for the rich and famous 🙂 (not your correspondent) – prob about 2,000 for that lot. I would not be surprised if the CFC season ticket total was nudging 48,000.

J

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Jimbo milliganPosted on5:37 pm - Sep 18, 2012


celtic look in reasonable financial shape .

With the sale of Ki, the reduction in the wagebill and money from Champions League, next year’s figures should see a big improvement .

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iamacantPosted on5:39 pm - Sep 18, 2012


tearsofjoy says:
September 18, 2012 at 17:14

From CGs statement – “The debts of the club need to be removed

What debts is he talking about ? Can someone clarify ?
———————————————————————————————–
East Fife been paid yet?

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SouthernExilePosted on5:39 pm - Sep 18, 2012


Johnboy says:
September 18, 2012 at 16:36

…….And I’m still betting on Cenkos being replaced by Allenby Capital…..

—————————
JB

According to info posted by Paul McConville, Imran Ahmad, director of the prospective issuer, owns 80% of Allenby…..surely a conflict too far for AIM?

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spanishceltPosted on5:42 pm - Sep 18, 2012


TSFM says:
September 18, 2012 at 15:14

Spanishcelt
The post was not removed because of its sentiment, much of which I agree with. It was removed because the language was severe and capable of being deliberately misconstrued.
Feel free to re post with appropriate editing.
……………………………………………………………………………….
The post was along the lines that we have all witnessed plenty of big0try from Celtic fans along with support of terrorist groups, I agree it is to a much lesser extent that the Sevco problem but its there and should be acknowledged but when a fan of any other club suggests Celtic have a problem it is dismissed and argued as though it was only a Sevco issue.
I’ve also been giving a lot of thought to my and my families experience with big0try and I think we are sometimes putting the cart in front of the horse.
I know and have been friendly with a lot of Rangers fans over maybe 40 years and the vast majority are decent people, I have also along with my family been subjected to plenty of religious abuse over that same time but on true reflection most of that has come from people who have never set foot inside Ibrox in their lives.
RM AND FF have several thousand members and most come across as total big0ts but how many are actual Rangers/Sevco supporters?
Its very easy to look at the obvious and come up with the wrong conclusion and we are now doing that with every Sevco supporter.

I remember being in a pub in Glasgow a few years ago, standing at the bar having a pint with a mate, a guy walked in, straight past us to the corner, pulled out a hatchet and smashed it into the lads head sitting there.(always liked a head on my pint was this was ridiculous)
Turned out his wife was having an affair with a balding guy who drinks in that bar, wears a boiler suit and sits in that corner when he comes in after work.
However that night when he came in someone else (with thinning hair) had sat in his usual seat so he sat at the bar instead.
Its dangerous to make assumptions, because someone supports Sevco does not make them a big0t or knuckledragger.
The problem is society in general and it spreads to football not the other way round.

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EmdeePosted on5:45 pm - Sep 18, 2012


I think chuckie’s statement was pre newco and refers to oldco debts, which funnily enough have been ‘removed’.

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CEPosted on5:59 pm - Sep 18, 2012


I’ve went to RM to gauge the reaction so you don’t have to;

———————————————————————————————————-

Is the compliance officer not that Vincent Lunny, or some other “impartial” bheast?

Yep, another of the Opus Dei cabal 😯

———————————————————————————————————

UEFA should really start looking at this stuff. 😆

———————————————————————————————————-

Surely there must be somewhere we can go to with this. This is persecution plain and simple. Surely its them that are bringing the game in this country into disrepute, I cant remember anything like this in my life.

Its really just sickening now, time to get the big guns out. 🙄

——————————————————————————————————————-

I say we tear hampden down on the 29th of December. 😈

———————————————————————————————————–

And just for balance there was 1 sensible comment which was quickly shot down;

he DID question the integrity of the commission, that is what he is being charged with!!

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denny1rPosted on6:07 pm - Sep 18, 2012


Paddy Turner says:
September 18, 2012 at 15:55

Edward Ursus is a Rangers supporting poster on CQN who was welcomed by the vast majority of posters on that forum. He has not posted for a number of months.

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easyJamboPosted on6:10 pm - Sep 18, 2012


Justinian says: September 18, 2012 at 17:28
===================
Anything around 45K season tickets would be good news and is reflected to some extent in the accounts which show “Deferred Income” of £12.7M, up £1M from last year. (deferred income includes ST sales and any sponsorship income for the next season which will spent as the season progresses)
One other positive is that Trade Payables (Creditors) figure is down by around £750K

Some small negatives in the accounts are as follows:
Intangible assets (value of the squad’s contracts) are down by £3.3M – (could be viewed as a +ve)
Trade receiveables (debtors who are due the club money) is down by £850K on the previous year
Cash in the bank is down by £2.6M to £8.2M from £10.8M last season
The “big loan” to the Co-op still remains at £10.6M, although down by around £400k over the year

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auchinstarryPosted on6:15 pm - Sep 18, 2012


Following a full Weekend of Scottish Sport, some interesting games, and a great result for St. Johnstone, (well done Brenda, from a Tic supporter). And further from a Disappointing (extremely) International week, you would perhaps have thought the Chief Sports writer from the Daily Rancid would be salivating at the menu to choose a topic of relevance.
You jest, instead Jabba chose to go off on another mind boggling exercise, defending the Dead club with misconstrued facts. Using words like, “Technicality, Stupidity, Deranged” and others to lead the reader into considering this whole scenario as an irrelevance. If, and its a Gigantic If, the former RFC loses the appeal in the “Big” Tax case, which is inextricably linked to the use of EBTs, they will have been found Guilty of trying to steal three times as much money (in todays terms) as the Great Train Robbers. Is this really irrelevant Mr Traynor? A technicality? Are the people who intend to see justice in all its forms, both Sporting and Legal really Deranged?
The EBTs used by the ex club were Never loans, they were simply an underhand way of Not paying Tax. There seems to be a band of fully paid up Journalists, intent on banging the Drum, getting their retaliation in first, accusing other clubs of similar cute accountancy to deflect and divert the truth. I am utterly convinced of one thing, Journalists like Jabba may be twisted, may be writing at the behest of others (Jack), but they are NOT Stupid. They know exactly what their ultimate aim is. And that Mr Traynor does not include the Truth.

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briggsbhoyPosted on6:27 pm - Sep 18, 2012


Doon the slope says:
September 18, 2012 at 14:26

It looks like it’s all downhill then, shocking or should that be f and shocking, I shall avert my eyes from such sites and continue to view the ones with pictures of our future Queen.
**********************************

Paddy Turner says:

September 18, 2012 at 15:55

briggsbhoy..from earlier….If it’s not a Forum; what do you believe CQN to be

**************

Having read hehaw on it (I lied I didnae bookmark it) I assume from your post it’s no a trusted source awe news then !. I note yir advice to the milki boy on how tae smell sheeeit and I shall heed this. “Take a chance on me” wiz that no a song by Abba. Re square pants wiz that not sponge Bob! I’m lost

You seem to be a man in the know, If I wiz to produce a calender with topless pics of kate do you think thurd be a market for it at Parkheid or indeed Ibrokes.

We is lowering then tone of the blog completely.

Briggsbhoy

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Jimmy Bones (@JimmyBo90672977)Posted on6:27 pm - Sep 18, 2012


Kilgore Trout says:
September 18, 2012 at 13:03

Try jimmy.bones@virginmedia.com

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tomahawkidPosted on6:56 pm - Sep 18, 2012


BBC news tonight. A story about Celtic and champions league. And something about a third division chairman in bother with the sfa.
There must have been more news than that. Has the rest of Scottish football gone on holiday since Saturday? Why the fascination with div 3.?

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Eastern ex-patPosted on7:00 pm - Sep 18, 2012


Even wih the range of information coming out today I am fairly confident that our papers will focus on the headline figure of a £7m loss at Celtic.

The diligent (no laughing at the back) hack may see the statement from the chairman of ‘debt free’ The Rangers highlighting the need to put any funds raised to paying off debt as warranting further investigation?

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youtawknabootPosted on7:02 pm - Sep 18, 2012


SSB…Gordon Dalziel WTF..?
Yeh the players just signed the contracts,eh they didn’t know any different…
…total & utter Bawbagerry.!!
(S)DM/McLelland/Bain/McLeish/Ogilvie/Johnston/Advocaat/W.Smith/G.Smith
Le Guen/Souness/Agents-Advisors….etc..etc..did they tell them..aye just sign there..?

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AngusPosted on7:08 pm - Sep 18, 2012


I maintain that CG is looking for a win-win situation in that:

a) he exits stage left with pockets bulging with cash, and

b) leaves the bears regarding him as some sort of folk hero, for challenging the pro-CFC authorities and being forced out of Scottish fitba due to being utterly exasperated by their anti-RFC atitude..

This to happen as soon as convenient (for him).

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goosyPosted on7:11 pm - Sep 18, 2012


Interesting admission by Green that the share issue was needed to clear debt
One wonders if he is preparing Sevco fans for a declaration that to save the “club”
( I know, I know) he has acuqired the Thyte floasting chagre and Ticketus contract but has told them straight there will be no negotiations and they can take a lower figure or he will see them in court

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Doon the slopePosted on7:15 pm - Sep 18, 2012


Alex Thompson has shown himself to be an outstanding journalist, courageously seeking out the truth and expressing that truth forcefully and candidly.

The latest film footage (about to be shown on CH4 News) of him doorstepping the loathesome Kelvin McKenzie, must make him now a hero of the citizens of Liverpool.

Well done, Thommo! Showing journalists how to DO journalism.

We here in Scotland have Jabba, who doesnt seem to know the issues, cant ask the proper questions, cant write anyway and obviously cant get up off his fat @rse due to swallowing lamb flavoured lard for years.

Why is this man being paid?

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ekt1m

ekt1mPosted on7:22 pm - Sep 18, 2012


Gordon Dalziel, What a Fud, This man really insults the Intelligence of the listeners on SSB with the utter drivel he comes out with his “the players aren’t interested in what they are signing”. Just let me pull on the blue jersey, nothing else matters. my agent can deal with the money. Aye that will be right. Total idiot.

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eddie ricePosted on7:27 pm - Sep 18, 2012


For those familar with the Craig Whyte story, his involvement with Merchant House Group is well knowm. Surprise surprise Cenkos Securities have links to Merchant House.

http://uk.finance.yahoo.com/news/managed-support-serv-result-egm-112307416.html

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BrendaPosted on7:28 pm - Sep 18, 2012


If it is at all possible…….SSB is more pathetic than usual tonight!! Guidi and dalziel talking total tosh …..Campbell ogilvie was only doing what he was told???? And dalziel accused other clubs of having dual contracts? Dumfoonered!!!

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AgrajagPosted on7:28 pm - Sep 18, 2012


blindsummit63 says:
September 18, 2012 at 17:09

0

0

Rate This

Celtic reporting a loss of £7.37M for last season.

Also demonstrates their reliance on European income. With unhidered access to Euro income for the next few seasons, they should be able to be profitable if they avoid any stupid results and performances in CL qualifying.

CELTIC plc have published the preliminary results for the year ended June 30, 2012.

SUMMARY OF THE RESULTS
Operational and Financial Highlights
_______________________________________________________

These are the PLC results. I’d like to see the football club results, you know that etheral body owned by the company .

In fact here’s a cunning wheeze for Celtic and other clubs posting a loss. It’s a tried and tested method for removing debt in Scottish football.

Celtic should go into administration, set up a new plc, sell the ethereal football club to the new plc for dirt cheap and then liquidate the old company, thereby stiffing the creditors. Voila! Debt free “football club”! repeat as often as necessary.

Genius!

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

No, Celtic, like the other clubs, want to retain their unbroken history.

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midcalderanPosted on7:29 pm - Sep 18, 2012


chancer67 says:
September 18, 2012 at 16:22

Right on cue CG announces a share issue and the SFA help him out by announcing he is up on a disrepute charge.
——————————–
SFA indulging in more witchh*ntery I hear Mr Charles cry!

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The Mighty QuinnPosted on7:36 pm - Sep 18, 2012


Can someone please advise.

Is there a list of punishments available to the SFA with regards to the two disrepute charges being levied at Mr. Charles “All The World Is” Green?

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AgrajagPosted on7:41 pm - Sep 18, 2012


Eastern ex-pat says:
September 18, 2012 at 19:00

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

They can concentrate on what they want, it will only go to show where their agenda really lies.

It really doesn’t matter what they say, Celtic’s results for last financial year are as predicted given the circumstances. Once the trading for Ki is factored in next year (off set by the incoming players) and allowing for changes in wages and CL income Celtic will be in a very healthy financial position.

This is guaranteed income and they will be able to trade using it. The co-operative bank know all of this and will support Celtic’s business activities.

In short, Celtic’s financial position is as good as it has been for a few years. Negative reporting in the press is irrelevant.

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StevieBC

StevieBCPosted on7:47 pm - Sep 18, 2012


EKtim says:
September 18, 2012 at 19:22

Gordon Dalziel …“the players aren’t interested in what they are signing…Aye that will be right. Total idiot.
========

I honestly thought that SSB would have taken on board at least some of the criticisms thrown its way during last season – and rebranded the show for this season – along with some fresh blood to replace the likes of Dalziel, Hannah, etc.

But what do I know: nothing has changed. 🙄

Here is another free suggestion for SSB.

SSB could choose to only discuss any Sevco-related issues on a designated evening each week.

On that evening have an accountant and/or lawyer, [they could/should be anonymous !], sit with the panel to add to and/or validate their comments on any legal and financial matters.

Then SSB could be conducting some valuable, informed discussion for the listener.

…but maybe SSB doesn’t want any informed discussion at all as the truth might just slip out… 😉

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StevieBC

StevieBCPosted on7:54 pm - Sep 18, 2012


I asked this a few days ago but didn’t see any response.

Does anyone know if Sevco is serviced by a High Street Bank ?

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Lord WobblyPosted on7:55 pm - Sep 18, 2012


Eastern ex-pat says:
September 18, 2012 at 19:00
0 0 Rate This
Even wih the range of information coming out today I am fairly confident that our papers will focus on the headline figure of a £7m loss at Celtic.
The diligent (no laughing at the back) hack may see the statement from the chairman of ‘debt free’ The Rangers highlighting the need to put any funds raised to paying off debt as warranting further investigation?
~~~~~~~~~~~~~~~
While Celtic continue to struggle on all fronts, not least financially, Rangers are about to embark on a share issue which is set to send the Govan Giants over the top.
Celtic fans have joked about a succession of Rangers chairmen ranting uncontrollably as all around them fails but, all the while, Charles Green has been plotting a Rangers revolution from his Ibrox bunker.
Phil Mac Giolla Bhain recently wrote a much maligned book charting the downfall of Rangers, the release of which now seems extraordinarily premature. Perhaps he should consider writing a sequal, perhaps entitled The Upsurge – How Rangers Single-Handedly Saved Scottish Football.
By Keith ‘Sports Journalist of the Year’ Jackson Oct 2012

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Ian58Posted on8:10 pm - Sep 18, 2012


Jimmy Bones.

Third time lucky?

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