Gilt-Edged Justice

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What a load of scaremongering nonsense. Make it 12 12 10 …

Comment on Gilt-Edged Justice by dentarthurdent42.

What a load of scaremongering nonsense.

Make it 12 12 10 10 so Rangers can get their promotion, and we will make the two new clubs … Celtic and Rangers.

If you don’t they will just go away and Scottish football will be dead.

I don’t see the comments from either club included anywhere.

dentarthurdent42 Also Commented

Gilt-Edged Justice
luoanlai says:
Tuesday, March 12, 2013 at 02:17
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However, it is worth remembering that Rangers FC (IA) were kept on a life support machine by the administrators, against the best interests of the creditors, with the express desire of keeping them in the SPL.

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I agree, and said so at the time.

In a fair and honest system Dunfermline would not have been relegated, there would have been no relegation last season and Ross County would have joined the SPL to make up the 12.

A CVA was impossible, liquidation was inevitable the assets and business should have been broken up in the interests of the creditors.

Saving the company was never a possibility, serving the creditors was never a factor. Keeping A Rangers (as Craig Whyte called it) was always the intention. Getting that team into the SPL and actually better off financially than the failed club was the expectation, at the expense of the creditors, the uk taxpayer and Scottish football.

It wasn’t personal though, Dunfermline just got shafted a lot more than others because of the position they were in. It could have been anyone.


Gilt-Edged Justice
With regard the £100m story.

There isn’t one. It is a series of fantasies, which if true may well lead to Rangers turning over £100m. However if they did they would be way out-performing the previous club.

If Rangers were in the SPL and winning it.

If Rangers were in the CL group stages and performing well picking up prize money.

If Rangers had control over their own merchandising and were making a certain net profit.

If Season Ticket sales were at a certain level.

If naming rights generated a certain amount.

It’s all nebulous nonsense.The same ifs are true for Celtic, but they aren’t going to happen, not to the extent that the club’s turnover jumps to £100m.

For a publicly listed company, less than 1 year old, to be coming away with this nonsense is simply astounding.

Actually it isn’t, it is totally true to form.

In other, entirely separate considerations, how much do people think the season ticket prices at Ibrox will go up this year.


Gilt-Edged Justice
On Rangers getting into the SPL at some stage.

They will need a substantially better squad than they have just now to even think about competing. By that I mean competing for the top six (or eight by that time, maybe), not competing to win it.

Where is the money going to come from to a, build that squad and b, pay the wages it will require.

As far as I can see the business model is no better than it ever was, and the expectations of the support are no different. they fully expect to go to the top of Scottish football and to look down on everyone else. That may be good and well, in theory, but with the squad they have they are to a large extent starting from scratch. They are also doing it with reduced income.

I genuinely just don’t see how it is going to be achieved. I genuinely believe that Charles Green was promised a place in the SPL. That would almost certainly have meant the bulk of the squad staying, income not being reduced to a huge extent, and the club being “debt free” therefore having no loan repayments or interest to pay.

That would have worked I think, but the fans of SPL clubs stopped it.


Recent Comments by dentarthurdent42

Podcast Episode 5 – Hibs Takeover ?
John Clark says:
September 7, 2014 at 2:09 am

Perhaps he has already been told that the “fit and proper person” status is a non starter.

He was a director of Rangers for a protracted period in the run up to it’s sale to a charlatan who was banned from being a director of a company in the UK, but did it anyway. A man who subsequently failed to pay around £14m in social taxes leading to the company’s administration and liquidation. A man who has lost a court case relating to over £20m he conned out of Ticketus.

King himself was convicted of 41 counts of tax fraud involving tens of millions of pounds. He pled guilty to it in a deal where he has agreed to pay those tens of millions back, rather than face 82 years in a South African prison.

How in the name of goodness could this man be described as “fit and proper”. It beggars belief that it is even a discussion point.


Podcast Episode 5 – Hibs Takeover ?
neepheid says:
September 6, 2014 at 9:44 pm

That makes sense to me.

The Court can “ring fence” money via an order. I don’t see how an auditor can, other than possibly via a threat of what they will put in their audit report should the client not agree. Mayhap an accountant can comment on that.


Podcast Episode 5 – Hibs Takeover ?
That’s my point Paul, it’s their money, surely they can spend it if they want.

Well other than the money which Ahmad arrests. That is still their money, they just can’t spend that. Even if they want to. The bank will have an arrestment order from the Court of Session and as I understand it will place that money into a suspense account until the order is lifted or Ahmad wins.


Podcast Episode 5 – Hibs Takeover ?
Does this “ring fencing” of the season ticket money actually mean anything.

What power does an auditor have to tell a business that it cannot spend money it has earned.

Surely the company employs the auditor. It’s a legal requirement for them to be audited but they can change the auditor if they want, so long as it is with someone licenced to do the job.


Podcast Episode 5 – Hibs Takeover ?
ecobhoy says:
September 6, 2014 at 1:22 pm

With regard to the arrestement. Is the money arrested in an account held by TRFC or one held by RIFC.

I am assuming Ahmad’s claim is against TRFC as that is the organisation he would have set up the contracts for, or is it. So it would be an account held by that company.


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