In the Service of Fools

Given the recent heightened focus on the refereeing standards in Scotland, I was asked to update a previous blog from 2010 that included suggestions for changing the way refereeing is managed in Scotland .

Having had a look at original my thoughts are “ here we are again”, for the very same reasons the blog was penned in 2010.

Why?

Because the refereeing issue is in my view connected to a lack of proper financial controls that create moral hazard, where one party can act with reckless abandon (see Rangers latest accounts), but other parties, as happened in 2012 are left to face the consequences.

So I’ll just repeat the suggestions made then but with an added comment on the proposed use of VAR, and how that and proper financial controls can save Scottish football from itself. First the Referee Service

Note the word “service” for this is the way that much of what the SFA do should be viewed. The SFA provide a number of services to the clubs who play in Scotland. They should not be seen as their masters but their servants. Or in modern terms the clubs in their professional leagues are the customers and the SFA the service providers. This change of attitude would allow competition to provide such services to enter the scene and so improve them.

This would be a huge cultural change but it has to start somewhere and here we are again under starters orders IF supporters act to bring the change about by calling their clubs to account for allowing the past to repeat itself today  as a result of the notorious  sporting integrity breaking Five Way Agreement, that UEFA never clapped eyes on where our game became a franchise and clubs where stores that changed from Mr Noodles to Nachos but were still the same because they sold food. 

Anyway!

The Referee Service

This would be split with the SFA doing the recruitment, training and match appointments (having taken the nature of the game to be officiated into account). However the monitoring and evaluation would be the province of the customer, using referees or ex refs from anywhere to mark to a standard set by the customer. This spilt of responsibilities would prevent any one person being in a position to exert his own influence on referees as a result of being part of the appointment and evaluation process. It would safeguard the SFA from the kind of suspicion that led to the referees’ strike and lead to a higher standard of referee because the customer would be setting the standard not the supplier (as happens everywhere in business but football) If it did not, it would free the SPL/SL to hire their own referees from wherever they could get them. A bit of competition never did anybody any harm and that includes our referees who, if they reached higher standards, would be in more demand outside Scotland.

Here is the addition brought on by the introduction of VAR which is just another service. Use this “here we go again” opportunity to put the VAR service AND the refereeing it watches over out to tender. The VAR supplier is also the referee monitor service to the leagues and the SFA become trainers and developers at lower levels of professional referees and work with the VAR service under a contract that rewards both parties.  

The Licensing Service

This needs to be calibrated to meet the financial position of Scottish clubs.  The principles in UEFA FFP that stipulate what is to be treated as allowable income and allowable debt continue,  but regulating controls to prevent clubs going bust or acting in a reckless financial manner need introduced. Points deduction is no deterrent if such recklessness creates huge points gap at end of season when the CL money is at stake. Nor is the threat of losing all won by that recklessness a deterrent, when the nature of how it was won is downplayed then ignored and airbrushed from football history.

If survival depends on access to CL geld then referees , as matters continue to stand will come under the kind of scrutiny that unless addressed,  leads to an ever growing suspicion,  because here we bloody well are again,  that our game is bent .

Worse it leads to thinking that the clubs like it that way but ignore that their supporters do not and will continue to ignore until supporters vote with their feet.

In short the Licensing Service that is supposed to protect the financial well being of Scottish clubs has failed. It perpetuates a moral hazard almost by design that caused Rangers demise in 2012  and that failure and how it was dealt with under the 5 Way Agreement has undermined the integrity of our game, causing increased scrutiny of referee decisions and if not dealt with this time will eventually kill football in Scotland as a sport.

VAR however if introduced as a professional service on lines suggested should encourage more prudent financial behaviour in future by making reckless behaviour so risky it will stop and with it the moral hazard it creates.

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Auldheid

About Auldheid

Celtic fan from Glasgow living mostly in Spain. A contributor to several websites, discussion groups and blogs, and a member of the Resolution 12 Celtic shareholders' group. Committed to sporting integrity, good governance, and the idea that football is interdependent. We all need each other in the game.

821 thoughts on “In the Service of Fools


  1. There are many points worthy of comment from the RIFC accounts which hopefully I can find time to collate and post. For now, I’ll stick with one:

    In the Strategic Report under cash:

    ‘The Group has worked to maintain its cash despite disruption to its activities by:-
    • changing of our merchant providers, to improve the terms on our season ticket cash flows, supplying cash up front instead of across the season.
    • utilisation of government schemes and assistance, including payment deferrals for VAT and employment taxes and the job retention scheme for non-playing staff.
    • the deferral of wage payments for high earning staff.’

    The last point indicates just how close to the wind the good ship RIFC is sailing. This is the first time there has been formal acknowledgment of their inability to meet contractual obligations as and when they fall due.


  2. Westcoaster @ 19:09
    I haven’t had much time to look at the accounts but I had missed that point and the one above it may be just as important “payment deferrals for VAT and employment taxes” just how much do they owe to players and the tax man ? It’s unusual for players to agree to a deferral unless there is a profit to be made , have they agreed a rate of interest along Dave King lines ? their latest loan from board members is at 6%pa . The old club* (RIP) also went down the road of wage deferrals when things were getting tight if I remember , they also built up quite a lot of IOU’s to the tax man as well.
    One aspect of raising cash through loans then converting debt to equity is it is highly damaging to any outside investment . Who would want to invest in a business that is constantly diluting their shares . The only people willing to buy shares at the 20p rate have committed all their cash to Dave King . This is one of the reasons their recent share issue was a flop.


  3. Westcoaster 7th November 2021 At 19:09
    ‘… the deferral of wage payments for high earning staff.’

    %%%%%%%%%%%%%%%%%%
    I’ve heard of staff being ready to agree to postponement of wage INCREASES, certainly, and of ‘negotiated’ wage reductions.
    But deferral of actual wages? Working for NOTHING for an employer who can’t afford to pay you in case he goes bust and can’t give a guarantee that he will be able to pay you in the future?
    That’s a dreadful state of affairs for any plc to find itself in, surely?


  4. “improve the terms on our season ticket cash flows, supplying cash up front instead of across the season.”
    Has it not been the practice that ST money is released on a game by game timeline to ensure the cash lasts through the season ?
    Is the above stating that the ST money was released up front at the start of the season ? If so how much if any is left ? Is this why wages of high earners were deferred ? Is the furlough scheme now ended ? If any players are sold in the Jan window will the deferred wages become part of the deal . Why the loan with interest (6%) rather than the usual loan later converted to equity deals , are the board calling an end to the confetti?
    “A dreadful state of affairs” JC , and that’s without taking into account the settlement due to SDI


  5. Westcoaster 7th November 2021 At 19:09

    There is a certain irony in blaming the epidemic for their losses, while excluding the Covid related figures from their reckonings…..Either way, they are still “Social taxes” and still have a fall due date and the potential to become overdues
    Is, “That’s pure Sevco”, an accounting term in use around auditing office places?


  6. Westcoaster — 7th November 2021 — 19:09

    If the items you lifted from the Strategic Report aren’t enough to raise the alarm at the SFA, and, hopefully at UEFA then the worst must be assumed. Come hell or high water the elusive operations at Ibrox will continue and the other teams in the Premier League, and, the fans will suffer from impotent governance.

    As an aside SG mentioning his players on international duty should be more concerned about their club duties and by inference not give 100 percent due to potential injuries. As a former athlete and a high level coach it has been my experience when you ask athletes to be careful, then that’s when the injuries occur. Those words may comeback to haunt SG in the title race, cup games, and further down the road the potential sale of these international players.


  7. It sounds like The Rangers are in a worse financial state than ever before in their 9-year history. Getting all the season ticket up front rather than across the season sounds like desperation, rather than prudence and “improvement”.

    Has the list of their creditors reached 273 yet? Could be anew world record coming…

    The more I look at their perilous financial situation, the more I question the Celtic Board of Directors around the Scottish Government offer of interest free loans. I believe they are/were in cahoots with TRFC and the Scot Gov to ensure their option to take the £1.6m funding was passed to their (supposed to be) bitter rivals. How else could you justify Celtic’s share of the offered funds not being split equally across the whole of Scottish Football??

    I believe the Celtic BoD are as eager as any The Rangers fan to see the new club survive, while if the shoe were on the other foot, Celtic would be buried by now, history with it. In the many decades I have supported Celtic, I have never seen the executives so far out of touch with their support, (Kellys and Whites included).

    Quite simply, it looks like the very survival of The Rangers will depend on Champions League group stages next year and anyone/everyone, involved in running Scottish Football is working toward that goal.


  8. “the deferral of wage payments for high earning staff.” surely means players???

    Where’s Fraser Wishart when you need him??


  9. Who will be first to ring fence their finances to ensure payment ?
    The players , the tax man , Mike Ashley , Memorial walls , other clubs with outstanding transfer fees due , the directors with loans. Those are the known knowns as Donald Rumsfeld would say, then we have the unknown knowns and the unknown unknowns . Even though the Directors have claimed to have repaid Kings loan until it appears on Companies House verified by the auditors it remains an unknown known . There are of course the forgotten knowns that may have slipped my memory . It’s a brave man that accepts an IOU from these chancers.


  10. normanbatesmumfc 8th November 2021 At 11:46
    ‘…Where’s Fraser Wishart when you need him??’
    %%%%%%%%%%%%%
    Players (and their agents) who think they are worth a few bob might do a Naismith ( who refused to have his contract transferred to the new TRFC) and refuse to agree to a wage cut , knowing that if they are made redundant by TRFC, they can negotiate their own deal with any interested club , no transfer fee being required.
    ‘In June 2012, Naismith lodged an objection against his contract being transferred to the new Rangers company.[76] PFA Scotland had previously commented that players were entitled to become free agents if they objected to the transfer.[77]

    As we heard during the BDO action v the Administrators, and as recorded in Wikipaedia:

    ” Naismith signed a four-year deal for Everton on 4 July 2012, joining his previous striking partner at Rangers, Nikica Jelavić. There was no transfer fee involved as the player had refused to have his contract transferred from the old to the new company controlling Rangers as the old company was liquidated.”

    Whatever may have been Fraser Wishart”s personal view/ feelings, he did his duty as a ‘union’ rep , in arguing that the RFC of 1872 contract with Naismith ( and all the other players and staff) was nullified by Liquidation, and the players were entirely free to rip up their contracts and move elsewhere, while being free to transfer to the new club if they so wished.
    Perhaps TRFC hope that they will encourage a few players to get off the wage bill by claiming to need to make big deductions that no player could accept, to get shot of them for for nothing ( except, perhaps, some redundancy pay?)


  11. Timtim 8th November 2021 At 12:50

    “..Who will be first to ring fence their finances to ensure payment ?”
    %%%%%%%%%%
    Wouldn’t this require Court action?
    I’m reminded of Martin Bain’s partly successful action in 2011 against the Rangers of 1872, where Lord Hodge agreed that there was a risk of insolvency and awarded Bain about £800,000 of his claim.

    Lord Hodge said :
    “[15] I am satisfied that there is a real and substantial risk of insolvency if the tax appeal were to be decided against Rangers in the sums which have been discussed. In reaching this view I emphasise that I am concerned with the statutory test which addresses the degree of possibility. I am not speaking of the actuality or even probability of insolvency.”

    If I was any kind of creditor of RIFC plc/TRFC I think I’d be consulting a solicitor!

    https://www.scotcourts.gov.uk/search-judgments/judgment?id=6fb986a6-8980-69d2-b500-ff0000d74aa7


  12. Wikipaedia:
    ” Naismith signed a four-year deal for Everton on 4 July 2012, joining his previous striking partner at Rangers, Nikica Jelavić. There was no transfer fee involved as the player had refused to have his contract transferred from the old to the new company controlling Rangers as the old company was liquidated.”

    Hi John , remind me,what company was it that was liquidated ?


  13. Me on 7th November @ 13.09

    Firstly, on a lighter note …
    Although only one person was initially invited to submit an entry (probably against competition rules!), this is now open to all – inspired by Gunnerb’s question to John!

    At this point in time, the date for the draw has not been determined – due to the fact that no submissions have yet been received.

    On a more serious note, do I detect a air of concern descending on the SMSM re the possibility of TRFC not winning this year’s title, with its consequential financial rewards needed to ‘save their bacon?. No laughing at the back as they say!

    Never mind boys, as Captain Mannering would say – “Don’t panic”

    Well – not yet anyway!


  14. A what if scenario surrounding SG and the rumored interest of Aston Villa. What if he makes the short list due out this week and serious talks commence. With the international break underway it gives all parties a chance to kick some ideas around. What if late in the week SG emerges as the front runner and asks for a week to think things over and Villa says o.k. What if on the Sunday of the Premier Cup semi final St. Johnstone defeat Rangers which would start another potential run of no cups which could be damaging to his reputation. Then with the latest financials out and the option of buying to reinforce the team in January circling the drain, Aston Villa looks pretty good.


  15. vernallen 9th November 2021 At 01:18

    A what if scenario surrounding SG and the rumored interest of Aston Villa.

    I imagine if a suitable offer is received vern........Say, £7.5m....It would be gratefully received.
    Of course that would be in a straight bat world. It remains to be seen if Slippy is one of the high earners on the deferred pay roll, so perhaps less. if AV are willing to compensate him for his reimbursement shortfalls. (Who knows how little, or substantial they may be?)
    This would also negate Sevco's need to cough up any N.I/PAYE contributions which will fall due when his deferred payments are settled.
    The questions are, (a) Do AV value him so highly?, or (b), Is he even on their radar.


  16. RIFC Accounts 2021

    CASH
    The Group has worked to maintain its cash despite disruption to its activities by:-
    • changing of our merchant providers, to improve the terms on our season ticket cash flows, supplying cash up front
    instead of across the season.
    • utilisation of government schemes and assistance, including payment deferrals for VAT and employment taxes and the
    job retention scheme for non-playing staff.
    • the deferral of wage payments for high earning staff.

    RIFC Accounts 2020.

    CASH
    The Group has worked to maintain its cash despite disruption to its activities by:-
    • changing of our merchant providers, to improve the terms on our season ticket cash flows, supplying cash up front
    instead of across the season.
    • utilisation of government schemes and assistance, including payment deferrals for VAT and employment taxes and the
    job retention scheme for non-playing staff.
    • the deferral of wage payments for high earning staff.


  17. Plus la change, plus la meme chose eh? Don’t think so as …

    …the debt has gone up by???!!!

    Breaking news -the Easdales have ‘pulled the plug’ on their interest in Derby, and may ride to the rescue.

    Elsewhere, I reckon that SG will not get the AV job (apart from anything else, the bookies have not exactly been spot on recently with their favourites for other managerial positions anyway), and if he’s waiting, as has been suggested, for the Anfield vacancy to present itself, he’ll have a helluva long wait. Even if Klopp left in the next couple of years, he would be well down the ‘pecking order’.


  18. gunnerb 8th November 2021 At 21:49
    3 0 Rate This

    Wikipaedia:
    ” Naismith signed a four-year deal for Everton on 4 July 2012, joining his previous striking partner at Rangers, Nikica Jelavić. There was no transfer fee involved as the player had refused to have his contract transferred from the old to the new company controlling Rangers as the old company was liquidated.”

    Hi John , remind me,what company was it that was liquidated ?
    …………………………………………………………………………………………….

    I assume you asked this question tongue-in-cheek GunnerB, already knowing the answer. But here is the answer to your question for those who might not know, (or want to forget, Albertz!!).
    The Club/Company which went into liquidation was RFC PLC, not as some would have you believe the holding company, which was of course “Wavetower” (now the Rangers FC Group Ltd), having purchased Sir Brassneck’s 80%+ shareholding for the princely sum of £1.

    Poundland Galacticos being a humorous nickname for the new club’s players at the time..


  19. Some further points on the RIFC 20-21 accounts. – apologies for the delay I have had difficulty posting since the 7th.

    Please keep in mind the financial end of year occurred on the 30th June 2021. The report is dated the 27th of October in terms of the cut off point regarding Post Balance Sheet Comments included in the report.
    The Total Comprehensive Loss for the financial year 20-21 was (£26,024,000) (Page 27)
    Note 3 (Page 42) gives details of insurance claim monies received, £1,250,000. This probably refers to the Business Interruption Insurance claim referenced on Page 11 of the Finance Report.
    Total trade and other payables owed was £27.4m. While down on the previous year the average payable period increased from 29 days to 33 days. Included in the £27.4m is £7.7m of Social Security and Other Taxes. With government COVID related tax deferral concessions being withdrawn it is likely that the additional £8.5m Investor loans referenced in Note 30 were necessary to at least reduce the outstanding tax liabilities as only £3.27m of cash was on hand as of financial year end.
    With regard to previous posts on SFM speculating as to who would step up to fund future cash short falls the report has the following “The Board of Directors have discussed the Club’s forecast cash flow shortfall and have reached agreement with Douglas Park and John Bennett whereby they will provide additional loan facilities as necessary to meet shortfalls to the above requirements and any further amounts that may be required a result of variances to forecast cash flows.”
    Contrary to what I have read in several MSM publications there does not appear to be anything in the report which confirms that Dave King’s £5m loan has been repaid. Note 27 (Page 60) deals with Related Party Transactions. It shows Laird Investments, one of DCK’s trusts, was owed £5m at the closing of the accounts (30th June 21)
    “Laird Investments (PTY) Limited (“Laird”) Shareholder A facility provided by Laird to the Company of £5m is being charged interest at 8% on an accruing basis. This is due for repayment in October 2021”
    Note – “due for repayment.” Without specifying when in October.
    Note 27 gives a breakdown of movement of Director loans and references a loan repayment of £5.5m within the FY 20-21. Dave King ceased to be a Director of RIFC on the 27th March 2020 before the FY in question.

    There is no mention of having made repayment to Laird in the post balance clisomg note (30) Had this occurred as of the date of the signing of the report ( 27th October) it would, by normal standards, be listed as a material event.

    In terms of a reality check Page 6 has the following:
    “Our necessary recovery investment and player acquisition programme, combined with the damaging effects of COVID-19, have had clear effects on our financial statements. While this continues into the current financial year, it is important that shareholders are aware that your Board targets profitability at the EBITDA level by year ending June 2022.”
    This would seem to be a carefully crafted paragraph. EBITDA stands for Earnings Before Interest Depreciation and Amortisation. The FY 20-21 has interest substantial charges and net Player Amortisation / trading of £8.9m. Breaking even on an EBITDA basis would still have resulted in a net loss of approximately £10m. Interest for FY21-22 continues and player amortisation will still be around £8m ( using the net book values and average existing periods mentioned in the report). So, minus positive player trading in January a substantial loss for FY21-22 is still a certainty.


  20. A11 – 9th November 2021 – 08.27

    You are quite correct to point out that wage deferrals have been disclosed during the last two accounting reports. The concern this action indicates has been ongoing.

    The difference for FY 20-21 is that the cash balances at FY year end were substantially down, average trade credit extended by 4 days to 33 days ( outside of the stated policy in the report) and HMRC’s outstanding balance was not covered by cash balances at year end.

    You are clearly much closer to what might be going on at RIFC than I am. What have you heard regard the Laird loan? To me, it seemed more than coincidental that FY 20-21’s report came out early compared to other years. There were only 2 banking days in October after the report publication. Did RIFC repay Laird in October?


  21. Westcoaster 9th November 13.14.

    The wage deferrals were widely reported at the time and spanned both accounting periods hence their disclosure in 2 separate reports.
    https://www.bbc.co.uk/sport/football/52192550

    I believe the Laird loan was repaid and has been replaced by John Bennett, Julian Wolhardt & Alistair Johnston providing a £5.25 million facility at a more favourable rate of 6%.Repayments commenced in August and are over a term of 7 years.

    I will contact a couple of people later tonight and will update you if they have heard differently.


  22. Albertz11 — 9th November 2021 — 8:27

    Those are interesting passages you point out in RIFC accounts for 2020 and 2021. Surely someone must have read the report before releasing it and should have spotted the sameness of the items. Not what you would expect from a board comprised of senior business executives who have dug deep to keep the lights on, and it looks as if some of them will have to dig deeper to see out the season.


  23. paddy malarkey 9th November 2021 At 12:15
    ‘..Sorry if previously posted .’
    %%%%%
    No apology required as far as I am concerned, pm. Without your post I would have missed the opportunity to note the
    “SPECIAL RESOLUTIONS
    8. “THAT the Directors be and they are empowered pursuant to Section 570(1) of the Act to allot equity securities (as defined in Section 560(1) of the Act) of the Company wholly for cash pursuant to the authority of the Directors under Section 551 of the Act conferred by Resolution 7 above, as if Section 561(1) of the Act did not apply to such allotment provided that unless previously revoked, varied or extended, this power shall expire at the conclusion of the Company’s next Annual General Meeting in 2022, except that the Company may before the expiry of this power make an offer or agreement which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities
    in pursuance of such an offer or agreement as if this power had not expired”

    My understanding of that ( as ever, open to correction) is that the RIFC plc board seek shareholder authority to make a general share issue without first having to offer the right to purchase to existing shareholders.

    If I am correct in that understanding, then it signifies that they do not want another King situation, where they sold to King without regard to the entitlement of other existing shareholders to buy on the same terms.

    And King was caught up in a lot of grief on that occasion, resulting in a contempt of court charge.
    [A legal action, by the way, which did nothing , as far as I was concerned, to make me think highly of the FCA and their kid-glove treatment of folk who two-finger them as Regulators: or of the Courts which, although also two-fingered (in my opinion) , were happy to ignore the apparent ‘contempt’ as long as somebody eventually did what he had been ordered to do!]

    Whatever.
    The RIFC plc Board seems to be, in this regard ,playing by the book. Fair do’s.

    What would puzzle me is this: if the Board is authorised by the shareholders to offer shares at, say, a price that existing ( major)shareholders like, say, club 1872, would jump at…. has the Board already assured that such a resolution will be passed – by the votes of those other major shareholders who do not on ANY account want Club 1872 to gain any voting power by being able to insist on the right to buy more shares?

    My suspicion is that Club 1872 was created by the Board to be a milk cow and to have its teats machine-suctioned by the Board to provide the readies they need, with absolutely no hope or intention that anything like ‘fan control’, or even a director representing the fans on the Board, would eventuate!
    May it go hard with me if my suspicions are not shared by those making their contributions to Club 1872-with not a personally owned share certificate to show for it!


  24. vernallen 9th November 2021 At 22:35
    ‘..Surely someone must have read the report before releasing it and should have spotted the sameness of the items’
    %%%%%%
    To be scrupulously fair, vernallen, I think that not too many people on the Board of RIFC plc want to be too hands on and personally ‘responsible’ when it comes to publishing the dismal facts of the financial situation of RIFC plc.

    We know already that their PR people have been a disaster for years.

    All that was needed in the current RIFC accounts was something like ” we have successfully followed the same policy/processes as last year, namely… which have succeeded in keeping us viable and thriving as we move into a new season of success….”
    Honest to God!
    Their PR people seem not to be at all worth a tuppenny damn!
    Maybe they are not being paid according to contract, but have had a wage reduction?


  25. Westcoaster

    As you can imagine the repayment of the Laird loan was not the main topic of conversation in Rangers circles this evening but after a couple of calls i can confirm that it was repaid, including interest, at the end of October.


  26. “I was approached last year by the Club to grant permission for loans to be made against the security of Club property- which I understood to be a requirement for certain new director loans.”
    “I refused to even countenance such a request as I considered it against the spirit of everything I had committed to supporters.”
    “Now that the Laird loan has been repaid the present Board is free to make its own decisions on using Club property as security.”

    Has the new 5m loan at 6% apr over 7 years been secured on the stadium ?
    Is this a cheap way of buying the stadium should they go into admin/liquidation?


  27. John Clark 9th Nov 23.08

    My suspicion is that Club 1872 was created by the Board to be a milk cow and to have its teats machine-suctioned by the Board to provide the readies they need, with absolutely no hope or intention that anything like ‘fan control’, or even a director representing the fans on the Board, would eventuate!
    …………………………………………………………………………………

    As a non – Rangers supporting fan i wouldn’t expect you to know that the relationship between the Club and Club 1872 is non-existent and has been for some time John.
    Club 1872 is a busted flush under their current leadership i’m afraid.


  28. Timtim 10th November 2021 At 00:29
    ‘…Is this a cheap way of buying the stadium should they go into admin/liquidation?

    %%%%%%%%%%
    Hark, listen!
    D’you hear renewed cries of ” Where’s the deeds?’


  29. “former ….. Chairman cites inaccurate information in the club’s most recent accounts, saying a £5m loan was incorrectly attributed to him rather that a business within his family trust structure” ( Sun)

    A further source states that he also said …

    ” some glib and shameless liar has been casting aspersions on my transparency, upstanding citizenship and good character” (Me)

    and

    “However, there’s nothing a few late evening phone calls can’t sort out. I’ll contact the SMSM and South African authorities to demand and ensure that this stain on my good name be removed, as I have never tried to ‘muddy any waters’ regarding my financial affairs” (Me again)

    Whit a ‘plank’ this guy is!


  30. Apologies in advance for what may be a daft question:

    Does DCK’s statement indicating that he has been repaid £5.8m since the Annual Report & Accounts were made up mean that RIFC is now in a worse financial position than the published one?


  31. In my inbox from the ICIJ earlier this morning:

    ” Big news out of Chile today. President Sebastián Piñera has been impeached weeks after the Pandora Papers revealed details of a controversial mining deal, which the opposition argued constituted a conflict of interest.”
    Oh, if we could just get the ICIJ to have a wee look at the possibility of there being a wee Sports governance body in a wee country in Europe worth having a wee investigative look at!
    Better still would be if that wee country had its own proper journalists instead of partisan propagandists!


  32. Lots of talk of Gerrard to Villa but we’ve been here before many times . If he was to go then the compensation due has been reported as just £2m , with the previous reports of high earners having deferred wages would there actually be any money making its way to Ibrox . I believe Gerrard would be a big loss for them , not because of his ability but as a highly recognised name in football . The hope is if he does go that he will be back to pay top dollar for players that nobody else seems interested in aka Boumsong. The difference between Souness and Gerrard is one of them was a dyed in the wool bluenose. The one sure saving would be on the managers wage , he is reputed to be on 2.5m and whoever replaces him will be unlikely to command that . All speculation of course but there are more reasons for him to leave than to stay. A wage rise , a solvent club , closer to his family , higher profile , less pressure . He can leave as a winner or roll the dice and it could all end in tears . If he is given the choice I think he will be off .


  33. According to the bookmakers, Steeeevie Geeeeee is a racing certainty, (if there is such a thing) to be next Aston Villa manager. Billy will be raging!!!

    I’m just surprised Barca, Real, Bayern or PSG didn’t make an approach with his record of 55 title wins in one season.


  34. Timtim 10th November 2021 At 00:29

    “Has the new 5m loan at 6% apr over 7 years been secured on the stadium ?”
    %%%%%%%%%%%%%%%%
    As i understand things, any borrowings by a plc secured by a charge on its property has to be notified Companies House within 21 days.
    No such charge appears yet on the CH pages of TRFC Ltd or of RIFC plc?


  35. Timtim 10th November 2021 @ 11:56
    Souness was not a ‘dyed in the wool bluenose’……neither were John Grieg or Sandy Jardine.


  36. tamjartmarquez 10th November 2021 At 14:25

    Souness was not a ‘dyed in the wool bluenose’……neither were John Grieg or Sandy Jardine.

    ++++++++++++++

    I assume they were Jambos when growing up?


  37. Souness , Greig and Jardine may not have started out supporting the Ibrox club* but it would be hard to argue they didn’t end up being committed to the cause. If Gerrard had a relationship with anyone at Ibrox it was King (probably as they are both Liverpool supporters) even though Gerrard supported Everton when he was younger . The point I am trying to make is Gerrard won’t waste cash buying duds at over the odds to help Park and Co.


  38. Albertz11 10th November 2021 At 10:05
    ‘…the relationship between the Club and Club 1872 is non-existent and has been for some time John.
    Club 1872 is a busted flush under their current leadership i’m afraid.’
    %%%%%%%%%
    That’s an interesting observation, Albertz11, in relation to ‘Club 1872 Shares Community Interest Company Ltd ( company number 476150) [which is the ‘Club 1872’ I reference , the ‘CIC’ for short];
    perhaps not surprising, in that the more money collected from the regular donations made by Contributor members, the more money available for the CIC to buy shares in any future issue ( unless the RIFC plc board gets a ‘disapplication of pre-emption rights’ resolution passed at any AGM, and such a resolution is on the agenda for the upcoming AGM!).

    The Board clearly are not interested in appointing a “fans’ Director”, so will carefully contrive to ensure that CIC’s shareholding stays at a relatively low percentage of the total, such that CIC could not reasonably and fairly demand the seat on the RIFC plc board that convention, at least, would declare to be theirs.

    As you rightly say, I am not at all ,[and would not expect to be] privy to hard information about the state of the ‘relationship’ between the Board and the directors of the CIC.

    I suspect , however, that many of the Contributor members of the CIC ,who might reasonably expect to be told exactly how things stand, may also not be privy to important developments that might influence their attitude to making pure donations to buy shares [ which, I know, is not the sole function] of which they as individuals have no individual, personal ownership.

    Viewed from outside, the situation seems to be far from being the same relatively happy situation as prevails at Hearts.
    There the Board , as I understand things, has responded well to the fans after the the heroic exit from Administration ;
    an honourable exit which kept the club and its history alive and well in Scottish professional football- without the need for a ‘Club 12’, or a SevcoXX, or for the admission of a newly created [by secret and secretive 5-way Agreement!] football club called ‘The Heart of Midlothian FC’
    And I need pass no other comment about how Hearts were dealt with by the governance bodies in very recent times!


  39. I’m sure I read that any club that accepted the Government’s recent loan and then paid off other debts had to repay the Government’s loan immediately.


  40. Timtim 10th November 2021 At 19:46
    ‘.. The point I am trying to make is Gerrard won’t waste cash buying duds at over the odds to help Park and Co.’
    %%%%%%%%%%
    Well, of course, there’s no EBT scheme at Ibrox these days under which he might be entitled to a payment some years after he leaves the club, if he leaves. Is there?

    [Mrs C and I were discussing what our advice to Gerrard might be if he were to be offered the Aston Villa job.
    We were in agreement that we would say “take the job only if you take McAllister with you”
    We share the view that Gerrard , while a superb player, is still a learner as a coach, and needs McAllister.
    We both wonder
    a) whether McAllister would be prepared to go with him at all
    b) would be prepared to go with him in preference to taking his place at Ibrox (if it was offered to him) and
    c) whether Gerrard would not take McAllister at all, preferring someone else in the English set-up.
    We both , in the end, decided that option (c) was the most likely.

    We think that, psychologically, Gerrard has to break out of his comfort zone.

    He has had an EXTREMELY easy Press, he won a first trophy for TRFC, shafting his club’s greatest rival in the process.
    But he surely must know that the commendations of the SMSM are not worth the paper [or the broadcast time]they’re printed/aired on….
    He must prove himself now in a much more critical press and broadcasting environment.

    But that’s just us, who don’t really give a tuppenny damn about what he does!


  41. Ballyargus 10th November 2021 At 22:55
    0 0 Rate This

    I’m sure I read that any club that accepted the Government’s recent loan and then paid off other debts had to repay the Government’s loan immediately.

    Hi Ballyargus:

    Had a quick look at the terms and conditions regarding the emergency covid loans from the scottish government to the professional game.It may be why Mr King was at pains to point out the recent repayment was to Laird and not to himself as a a director.

    2.1 The purpose of the credit facility and the borrowings drawn down is to assist the Prospective Borrower with losses of income and additional costs resulting from its compliance with Covid-19 public health rules. 2.2 The Prospective Borrower must use all the borrowingsfor working capital and general cash flow requirements. 2.3 The Prospective Borrower must not, without the prior written consent of the Scottish Ministers, use the borrowings to: i) repay any director loans; ii) repay any loans from persons with significant control (as defined in section 790C of the Companies Acts 2006); and/or iii) refinance existing borrowings for a period of 12 months from the last draw down date of borrowings, except where the refinance is necessary to deal with the financial impact of the Covid19 pandemic.

    https://www.gov.scot/binaries/content/documents/govscot/publications/foi-eir-release/2021/08/foi-202100222527/documents/foi202100222527—information-released/foi202100222527—information-released/govscot%3Adocument/FOI202100222527%2B-%2BInformation%2Breleased.pdf?forceDownload=true


  42. Ballyargus 10th November 2021 At 22:55
    ‘..any club that accepted the Government’s recent loan and then paid off other debts ‘
    %%%%%
    Maybe not answering your particular query, Ballyargus, but in trying to find the answer I came across this:

    https://www.gov.scot/publications/foi-202100213841/

    See that ‘Freedom of information Act?’

    Brilliant, except for the fact that the really dirty, dirty corruption in political circles is excluded!
    If the politicos don’t want us to know, they make damned sure that we won’t know!

    Or at least, try to ensure that we won’t know.

    And there is nothing easier to do in a country such as ours with a Press and broadcasting authority thirled to propagating a sporting lie!
    Honest to God.

    If the SMSM and BBC Scotland can lie about a liquidated football club still being alive, what really important stuff will they not be prepared to lie about?

    And I am saying that seriously, not in jest.

    There are liars in our media. And of course they know who they are.

    And as they have a drink together in whatever howff in Glasgow or Edinburgh they toast their success , each of them KNOWS that he and the others are liars, who would be scorned by those real journalists who died in the interests of Truth.
    Bad cess to them.


  43. JC@00:32

    “If the SMSM and BBC Scotland can lie about a liquidated football club still being alive, what really important stuff will they not be prepared to lie about?”

    People who tell the truth end up sacked or imprisoned or killed or living in exile , Julian Assange,Chelsea Manning, Bill Cooper and Edward Snowden are just a few examples while people like Blair , Johnson, Bush and Clinton literally get away with mass murder. We are in a prison of our own making because we have allowed the very few at the top of the pyramid to control the monetary system which ultimately controls everything else. As Amschel Rothschild famously said “give me control of a nations monetary system and I care not who makes the rules” until we change that the changing of Governments is a futile exercise.


  44. Timtim 10th November 2021 At 19:46

    Souness , Greig and Jardine may not have started out supporting the Ibrox club* but it would be hard to argue they didn’t end up being committed to the cause.

    I would like to think that any player or manager at any club would be committed to the cause of that club.

    I dont claim to know or have met any of the 3 personally, but believe all 3 would have given their all for for whatever club that they played for. Souness, a fine player (who I saw play for Middlesboro with Bobby Murdoch v Dunfermline. I suspect money was his main cause when he linked up with SDM. Greig and Jardine, I think were great players and servants at Rangers, and are correctly lauded as such. Liked the adoration of being a club ‘legend’ (who wouldn’t?), and whatever match day hospitality crumbs from the table, or dregs from the loving cup that came their way after their playing careers ended. No different than long serving ex players for any club from the 60s/70s.


  45. Well, that’s Gerrard off to Aston Villa!just announced on Radio Scotland two mins ago.


  46. The replacement will speak volumes of the current state behind the scenes . Murty slipping back into his brogues would be the ultimate alarm warning . I think the last 2 times he did so for no extra money . It’s a poison chalice for all but the most desperate and the January transfer window will see more departures than arrivals.
    Gio Van Bronckhurst is being touted (more in hope than expectation) he wouldn’t come cheap ,would demand a large transfer budget and his recent foray as a manager isn’t successful.
    Has the compensation been paid in tranches like most transfer fees? Did they negotiate a smaller fee for cash up front? Were any of their wages deferred and part of the settlement ? Are the banter years set to return ?


  47. Whilst reading the official statement from Ibrox about ‘Gerro’ leaving, I noticed the words and dates on the ’emblem’ – Rangers Football Club. 1872-2022. 150 years! Perhaps somebody (A11/RC?) can help my confused state of mind here, by clarifying the following:-

    LIQUIDATION Did I dream that?

    … and what about the dates(should be 1872 – 2012. 140 years???).

    Always happy to have my continuing football education updated on here, especially wrt the above (by the way, if we are indeed in 2022, then maybe I just slept through ‘the Bells’!).

    I should acknowledge that the wording/dates might, in all fairness, be a printer’s error – or a presumption that all will be well down Govan way (e.g. Liquidation did not happen).


  48. John Clark 11th November 2021 At 10:07

    Well, that’s Gerrard off to Aston Villa!just announced on Radio Scotland two mins ago.

    Maybe he heard the famine was over John.


  49. I don’t know what all the fuss is about Steven Gerrard leaving .
    Why don’t they just hire someone ( maybe with a scouse accent ), change his name by deed poll to “ The Steven Gerrard “ and carry on regardless ?


  50. Barry Ferguson appears to be confused about the reported compensation on offer in regards to SG’s move to Aston Villa. He referred to the package Celtic received for Rodgers. Unfortunately I don’t think you are comparing apples to apples in that case. Leicester got a manager with EPL experience, a host of titles and cups and I believe some CL experience. Aston Villa get a manager with no EPL experience, one title and no cups in three and a half years with Rangers, and no managerial experience in the CL, and who’s position prior to landing at Ibrox was at the youth team level. I think this should clarify the reported gap in compensation


  51. Barry Ferguson appears to be confused about the disparity in the reported compensation package for SG and what Celtic received for Rodgers. Lets take a quick look at the resumes. Rodgers has EPL experience, won several titles and cups, and I believe some CL managerial experience. Gerrard has no EPL experience, one title and no cups in three and a half years at Ibrox, and prior to landing that job was coaching in Liverpool’s youth system. Hopefully that clarifies that for Barry.


  52. From the Court of Session Rolls

    “LORD TYRE – S Alexander, Clerk
    Tuesday 16th November
    By Order
    at 9.00am
    P115/17 Note: RFC 2012 Plc for orders under paragraph 75”

    and on FRIDAY 19th, Lord Tyre again
    Procedural Hearing
    at 9.30am

    CA71/20 Duff & Phelps Ltd v The Lord Advocate


  53. Timtim 11th November 2021 At 13:32

    https://find-and-update.company-information.service.gov.uk/company/SC437060
    is this the company ?
    https://find-and-update.company-information.service.gov.uk/company/SC425159
    is this the club* ?
    https://find-and-update.company-information.service.gov.uk/company/SC004276
    what’s this ? and what was it incorporated with ? Incorporated on 27 May 1899

    Link 1 takes you to the new “holding” company for the new club.
    Link 2 takes you to the new club
    Link 3 takes you to the old club, (previously RFC PLC, prior Rangers Football Club Ltd).

    The old club had it survived would be celebrating its 150th anniversary soon.
    The new club is nine years old.

    The “holding” company was set up to fleece investors via a share scam, pretending to be the old club. The Scottish Football Authorities and Media, (especially BBC Scotland) were only too happy to help the big-handed Yorkshireman in this ruse.

    Well played Charles Green, shame on you SFA/SPL/SFL/MSM.


  54. I liked the way they changed the name of the old club* to rfc*2012plc , it’s almost like changing your Granny’s name on the death certificate so you can carry on claiming her pension. It is another World record though , the only club in history that’s named after the year they died rather than the year they were formed . The question “What age is your grandmother ” just got more confusing.


  55. normanbatesmumfc 12th November 2021 At 09:21
    ‘..The Scottish Football Authorities and Media, (especially BBC Scotland) were only too happy to help the big-handed Yorkshireman in this ruse’
    %%%%%%%%%%%%%%
    More significantly, nbmfc, the Financial Conduct Authority and other finance regulators paid no heed to what I think any reasonable person would say was the deception that was practiced by a newly set up business .

    The deception ( as I believe) involved and involves the marketing of itself ,by that company, as being the holding company of football club that was founded in 1872 ,but which, having entered Liquidation in 2012 thereby ceased to exist as a professional football club [ which claimed to be the most successful football club in the world] competing in Scottish .
    professional football:
    whereas in truth it is the holding company of a football club newly created in 2012 which has not exactly achieved a helluva lot over the few years since then.

    There is to my mind far too lax an approach by Parliament and the Courts to the regulation of business and commercial finance that allows ,in my opinion, such a blatant untruth to be used in a Prospectus and in company accounts etc to mislead the investing public and potential creditors.


  56. Sorry for the duplication of earlier posts as a gremlin had entered my computer and was causing untold grief.


  57. Well, let me say that I rejoiced in the brilliant skills that got the two goals tonight ,and prevented ‘two against’.

    But I’m annoyed by the fact that the unworthy men in Scottish Football ‘governance’ who persist in abandoning ‘sporting integrity’ by continuing to propagate and foster the Big Lie at the heart of Scottish CLUB football ,will try to claim credit for that.

    It is a piece of absolute nonsense that such men should get credit for the achievements, the honest sporting achievements, of the men at the coal face who actually play to the rules and win honestly by their sporting efforts.


  58. John Clark 12th November 2021 At 22:57
    “the unworthy men in Scottish Football ‘governance’ who persist in abandoning ‘sporting integrity’ by continuing to propagate and foster the Big Lie at the heart of Scottish CLUB football”
    ////////////////////////////////////////////////////////////

    I see that the BBC has produced an hour-long documentary about the birth of phoenix club, Macclesfield FC, following the liquidation last year of Macclesfield Town FC, whose winding-up was as a result of relatively modest debts of around £500k.

    Local businessman Robert Smethurst bought the old club’s assets, including the stadium, and along with board member and former footballer Robbie Savage, has brought professional football back to the town in the form of Macclesfield FC.

    I haven’t watched the documentary yet, but everything I’ve read about the demise of Macclesfield Town and the rise of the phoenix club makes abundantly clear that Macclesfield FC is a brand new club, formed in 2020.

    Notwithstanding that neither of these clubs are governed by Scots law or the Scottish football authorities, it is striking that those who govern the North West Counties Premier League in which Macclesfield FC play aren’t pretending that the phoenix club is the same club as the old defunct one, and neither is anyone connected to the year-old club.

    The BBC’s treatment of the two Macclesfield clubs begs the question why did the BBC Trust (now itself defunct) decide to treat the original liquidated Rangers club and its phoenix club as the same club?


  59. “why did the BBC Trust (now itself defunct) decide to treat the original liquidated Rangers club and its phoenix club as the same club?”

    The flip flop from new club* to same club* which many more entities than the BBC Trust decided to champion was down to money plain and simple. If the fans at Ibrox had happily supported Charles Green and his new pioneers then all this angst wouldn’t be ongoing . His project was failing , the ST sales were on a par with Morton and if the fans didn’t stump up the cash then he would have sold out to Tesco , made his profit and still bought a chateau . That was a shit oh moment for all involved and regulators media and other interested parties needed a plan B . A million shares later and Ally McCoist was comforting the fans with his belief it was the same club after all Charles had stumped up £1 to buy the history . They really were the World’s most successful club and if it’s good enough for Ally it was good enough for them. Fans who had already reached stage 5 of the grief process could moonwalk back to stage 1 and triumphalist elitism .Rangers* in whatever form they take are more than a football club* they are a vehicle for WATP supremacist bullshit and people of low self esteem cling to it . Stealing from the tax man was shameful but if they could divert blame to the faceless company rather than their glorious club* then it wasn’t a problem. All they had to do was remove incorporation from the dictionary


  60. If there had been any integrity in Scottish Football Governance in 2012 SHE SFA would have insisted that Charles Green’s SevcoScotland would , as a condition of being admitted into Scottish football as a new club , that CG make a statement on the same lines as that made by the new Macclesfield club:, and would have barred the RIFC plc board from claiming that on gaining controll of TRFC they had become the holding company of Rangrs of 1872.
    “Macclesfield FC can confirm that further to our league applications, the Football Association have accepted us into the North West Counties Premier Division for the 2021/22 campaign.

    This represents Step 5 of the non-league pyramid and with it, comes automatic inclusion into next season’s FA Vase competition.

    It also means that our inaugural league season will commence on Saturday 31st July 2021 and we will advise our definitive fixture list once confirmed.

    The Club are delighted with this outcome and can now fully commit to our preparations ahead of the new season.

    We would like to thank everyone involved for their hard work and dedication throughout this process.”

    Unfortunately, there was no such Integrity, and the guilty men will die [in the fullness of time] KNOWING that that they are liars and abusers of their office of Trust and were regarded as such by many, many people.


  61. TT – ‘ST sales were on a par with Morton’

    TT I was enjoying your post until the low blow of bringing The Ton into the argument ???? – 2878 at Cappielow this afternoon well above current average home gates bolstered by a sizeable Killie away support. A deserved 0-2 win for Killie making the halftime pie the highlight of the afternoon!


  62. @Westcoaster
    Is it too late to change that to Dukla Pumpherston ? Apologies to all Morton fans ……..and those of Dukla Pumpherston !


  63. For some reason today’s Herald on Sunday has chosen to report that Rangers have a going concern warning in their accounts. They do of course but the accounts were released some time ago now so what has prompted the Herald to run with it now? Maybe a long shot but perhaps the auditors feel the GCW was pretty much glossed over at the time and have used some influence to highlight it? I am not familiar with accountancy practices but I imagine such a warning is something Auditors take very seriously.


  64. upthehoops 14th November 2021 @ 10:39hrs –

    It’s a slow news day (or weekend) because of the international break.

    I suspect that Martyn Williams submitted that piece several days ago & it’s been used today to drive clicks/fill space on an otherwise very quiet day for fitba’. It seems to have worked!


  65. upthehoops 14th November 2021 At 10:39
    ‘…perhaps the auditors feel the GCW was pretty much glossed over at the time and have used some influence to highlight it?’
    %%%%%%%%%55
    No, uth, I imagine that it would be very unprofessional of any company’s auditors to use anything other than their actual audit report to draw external attention to any particular matter in their report.

    In RIFC’s case, the auditors reported their view that RIFC plc is dependent on loans from persons who told the Board, without giving written guarantees, that they will provide loans as and when required.
    That’s the extent of the Auditors’ statutory duty in respect of ‘going concern’ (assuming all other duties have been discharged, of course).

    I don’t think they are either obliged or empowered to re-visit their own report, or to urge or suggest to the Press that they should follow up any particular matter mentioned in their report.
    I have previously mentioned my own astonishment that auditors are not obliged to insist on seeing written guarantees that loans to keep a company afloat will in fact be enforceable in the event that they are needed.

    My view is that verbal promises are not worth the paper they aren’t written on!
    I believe that if the Directors and/or significant shareholders are NOT ready to back their promises with a written guarantee it’s an indication that they themselves have no great faith in the future of their company.

    That by itself sends a powerful message to the market: get out while you can!


  66. UTH

    There should be a perennial GCW about this scandal-ridden outfit.

    So my question is …

    Whit happens if they don’t win the League this season ( a New Newco?)?

    Also, is ‘The Herald’ barred noo for going mainstream with the blindingly obvious?

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