History, Neighbours and Made Up News

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JOHN CLARK SEPTEMBER 26, 2016 at 14:28______ Sourness, of course, was interested …

Comment on History, Neighbours and Made Up News by Homunculus.

JOHN CLARK
SEPTEMBER 26, 2016 at 14:28______ Sourness, of course, was interested enough in his own bottom line to accept a nice wee EBT payment which, I believe, was made to him quite some considerable time after he ceased to be an employee. (Was he ever asked seriously about that? No.

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Souness admitted that it was a payment he received for work he had done for Rangers. As such it was not a discretionary payment into his sub trust, and it was not a loan made to him at the discretion of the trustees. It was a contractual payment for work done.

Souness’ statement give lie to the whole EBT sham.

http://www.scotsman.com/sport/football/teams/rangers/graeme-souness-my-rangers-ebt-was-for-scouting-players-1-4096795

“Former Rangers boss Graeme Souness claims the tax-free payment he received from the Ibrox club 10 years after leaving the club was for scouting work.”

He said: “I was doing work for Rangers. “I’m not being blase but how much was it? And what was the largest one that someone received? That’s a lot of money isn’t it? “Well I was in between jobs and I was going to scout players for Glasgow Rangers at that time, on the continent. Does that answer it?”

Homunculus Also Commented

History, Neighbours and Made Up News
The obfuscation with regard the names has been very important since the club was formed.

Sevco 5088 and Sevco Scotland are two entirely separate entities, however if you call them both Sevco it could be either.

Sevco made a deal to buy the assets or Rangers, then Sevco bought those assets. That’s true if you realise Sevco 5088 made a deal to buy the assets of Rangers, then Sevco Scotland bought those assets. That is an extremely important issue. If the deal was with 5088 then what allowed the administrator to sell them to an entirely different entity, rather than going to auction if that deal had fallen through. 

Rangers FC Ltd and Rangers International FC PLC are different entities but one is a football team and one is a holding company which owns it’s shares. Call them both simply Rangers then you can say things like Dave King is Chairman of Rangers. That gives a certain impression, a totally incorrect one. Rangers has no debt, which one. Rangers owns it’s own assets, which one etc etc.

It really does allow a certain picture to be painted and the SMSM are quite happy to go along with that picture. 


History, Neighbours and Made Up News
What debt would force an entity into administration, and which entity do people think it would be.

The only debt I am aware the PLC holds is to shareholders and directors. Would those people really want to be seen as placing the club into administration. Would they be willing to see their money lost through that administration.

As far as I am concerned if there are no innocent creditors bumped of their cash (including me, the taxpayer) then it really isn’t a huge issue. 

Though why would they take a points hit when the directors could just forgive the debt and lose their money that way. 

Forgive me if I have missed some advantage to this administration, or is it the Ashley contract. That would be an interesting case when he accuses them of a contrived insolvency based on no substantial external debt and designed purely to breach a contact with him. 


History, Neighbours and Made Up News
CO

I suspect the accounts for 2016 will show a further loss, for the fourth successive year. It is entirely possible that the 2017 accounts will show even more losses, if the club gets that far.

5 years in existence, spending more than you are earning in every one of them.

Financial fair play, it’s a joke. 


Recent Comments by Homunculus

It Is Better To Offer No Excuse Than A Bad One
He has a logo already


It Is Better To Offer No Excuse Than A Bad One
TONY
JANUARY 2, 2018 at 16:03
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Not the humility then.


It Is Better To Offer No Excuse Than A Bad One
TONY
JANUARY 2, 2018 at 15:37
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You guessed, what gave it away.


It Is Better To Offer No Excuse Than A Bad One
Our hero, and he really is a hero is at it again with his self-effacing prose.

“I cover every issue and more often than not you will read it here first. If I were a Superhero and not a mere blogger I would literally champion the oppressed. However as one who believes  that the pen is mightier than the sword I revert to keystrokes. I have never had a tattoo but if I ever decided to go down this route I would choose the Palestinian flag. However as this might offend one of my my best friends, Max in Tel Aviv, I continue to demure.”

I’m assuming he means demur, however he could well be a shy, modest lady. 

The heroism continues

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Can you guess who it is yet. 


It Is Better To Offer No Excuse Than A Bad One
http://www.heraldscotland.com/sport/15715129.New_poll_shows_fans_are_overwhelmingly_in_favour_of_moving_away_from_Hampden/

THE case for retaining Hampden as the home of Scottish football has been dealt a blow after a survey found just 15 per cent of fans were happy to stay put.

…..

The Scottish Football Supporters Association (SFSA) carried out a survey of just under 3,000 of its members and found only a sixth wanted to see major internationals and cup finals staged at Hampden.


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