Guest Blog by Auldheid
When helping write up the previous blog on the matter of the (mis) commissioning by Harper Macleod, lawyers to the then SPL and current SPFL, of the Lord Nimmo Smith’s investigation into side letters arising from EBTs issued by Rangers FC from July 1999 (https://sfmarchive.privateland.net/an-honest-game-convince-us/ ) .
I had it in mind that only the SFA had something to hide as a result of their President Campbell Ogilvie being fully aware of the history and distinction between the two illegal Rangers Employee Benefit Trust (REBT ) ebts of wee tax case fame not declared to Harper Macleod and the more widely known Murray Group Management Remuneration Trust (MGMRT) Big Tax Case ebts which were declared and on which LNS focussed after (wrongly)treating both types as regular.
The idea that I think most bought into in terms of the registration matters LNS investigated was that no one in football except players with side letters had participated in those schemes and that football authority, both SFA and SPL were unaware of them until their existence became public in Feb 2012. This is when the Sun first published a side letter and the possibility of mis-registration was raised, notably on Celtic Quick News then more widely particularly following an interview between Alex Thomson of Ch4 News and Hugh Adam an ex Rangers Director.
However when you think of the world of Scottish football where players socialise with each other and with journalists, then it does seem stretching it a bit to think that no one in football authority ever heard any gossip or had any enquiry and decided not to investigate the matter before 2012.
Well Rangers Administrators Duff and Phelps thought so and their lawyers Biggart Bailie asked Harper Mcleod in March 2012 why the SPL had not investigated a lot earlier on the basis that
- There had been entries every year since 2000 in Rangers Annual Accounts of sums of money being placed in employee benefit trusts
- HMRC had written to the SPL at some unknown point in the past to ask about the existence of side letters in players’ contracts.
The first argument on annual accounts was one made once public awareness of ebts widened but it was dismissed on the grounds that no one knew much about ebts in those early years and in any case properly administered ones, which they would have been presumed to have been, did not have side letters.
However it does seem likely that having written to MIH/Rangers in 2005 to enquire about the existence of side letters to De Boer and Flo (which MIH/Rangers denied holding even though they did) HMRC would have written to the SFA or SPL sometime after 2005 whenever they first became aware of side letters in players contracts with regards to the MGRT ebts of Big Tax Case fame..
That the SPL had been contacted two or three years previous to 2012 by HMRC was confirmed at a SPL Board meeting in March 2012 as a result of a question being asked by Celtic, who were unaware in 2012 that such an HMRC enquiry had been made in 2009 or 2010. It is possible of course that the connection to misregistration was not made then by the SPL executive asked, but had it been history could have been so different.
How that HMRC enquiry and what it contained was handled by the SPL executive perhaps explains not only why the SPL were so keen to take the lead on the investigation but why they were unaware of the different types of ebts at play, the enquiry in 2009/2010 presumably relating only to the MGMRT type.
The motivation of the SPL executive can be read into their advice to the SPL Board on 23rd February 2012 to instruct an immediate inspection and investigation of the financial records of Rangers with respect to the ebt payments under SPL Rule F1 and under Section G of the Rules on the basis that such an inspection and investigation might reveal prima facie evidence of a breach of SPL Rules independently of any Administrator decision or the outcome of the FTT.
The SPL Board were further advised that taking the lead on such grounds would also go some way to forestalling any attempt by the SFA to include any dependency on the outcome of either Rangers Administration (which they entered on 14th February) or the result of the FTT, (which came in November 2012.)
The desire and benefits of delinking what was at heart a registration enquiry from the much more serious use of tax evasion methods to pay players was obviously not lost on those giving the advice.
In fact in directing LNS in the way the SPL did (possibly unaware that tax evasion had already occurred with Flo and De Boer) it avoided focus on the real and still unresolved issue, were players paid by unfair means from 1999 from which sporting advantage would naturally accrue with no need for proof that it had. You cannot say this had not been thought through in the advice given.
It was also the SPL’ stance that matters concerning player payments had traditionally been considered to be for leagues.
The narrative emerging here is one of the two football authorities keeping from public gaze what individuals in both, if not the whole organisations corporately, knew about the history of ebts; the SFA knowing the history of both types from 1999/2000 onwards and the SPL possibly only knowing something of the MGMRT ebts and side letters from 2009/10 as a result of HMRC asking them questions.
Thus it suited the SFA that the SPL take the lead as much as it suited the SPL to do so but for different reasons. The SFA to keep the existence of the wee tax case ebts hidden from public view and LNS scrutiny and the SPL to avoid answering any “when did they know and why did they not act” questions.
Also if the SPL were indeed unaware of the two distinct types of ebts at play (and they may indeed have been), it explains why they never picked up that the earlier illegal ebts were missed/concealed from them by Rangers Administrators.
Perhaps the SPL and SFA were aware of the benefits to them of focusing only on the registration aspect. This could be presented as an administrative error (which LNS basically decided) rather than the possible illegal nature of the big tax case ebts after the FTT (and which might still arise from the UTT) which would present both with much more difficult and unwelcome consequences to manage and certainly would have changed the nature of the investigation from the outset had the full evidence been provided.
However unless the questions put to the SPFL in the previous blog are answered, we will never know who did what and why, but we at least will know that the LNS Investigation and its findings were a sham from the outset and should be set aside.
Perhaps BDO who are investigating the role and behaviour of Duff and Phelps according to the latest report on their work should be asking Duff and Phelps about the circumstances surrounding the concealment of vital evidence from the LNS Commission?
Och why not?
To the BDO partner investigating. Dated 9th June by web site e mail
“ I see that BDO are carrying out a probe into the conduct of administrators Duff & Phelps. Does that cover the failure to supply SPL with full documentation requested to investigate side letters in 2012?
See http://www.tsfm.net/an-honest-game-convince-us/ for background. Missing evidence is available. ”
PS: I did try to ascertain if HMRC did indeed write to the SPL and when, but they were unable to confirm or deny that they had. The enquiry and response follow. The question on who is responsible for HMRC policy in respect of collection of tax from football clubs was not given but probably due more to an oversight than any attempt to stop the question being answered.
twopanda says:
June 21, 2014 at 9:10 pm
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peterjung says:
June 21, 2014 at 4:34 pm
I have asked it before and I will no doubt ask it again. Just why did the infamous 5 way agreements have to be secret? Has anyone ever heard this question asked anywhere? What are they hiding……?
___
I`ll have a go – on primary motives. Long winded but, – simply as I can;
• Duffers needed sevco SFA accreditation to end administration
• Sevco needed CW shares `in place`.
• SFA / SPL / SFL needed football debts paid, transfer embargo, prize monies to RFC[IL] and,
• – no CW.
Not straightforward for the SFA.
Of note the parties took this to the very last minute.
CGs spiv-gang probably wanted / gambit on release in part or whole on footballing debts, embargo, prize monies, arguably LNS show-`tribunal` and potentially the not insignificant legal costs of the entire shambles of stitching up the 5WA – and gambled on a last minute pull-out as nuclear option.
SFA – legitimately – would need to be seen to explore all options..mmmm….
Arguably, the LNS white-wash was part of the 5WA – and wouldn’t be surprised if it was – but from evidence since, the LNS ToRs were swiftly and enthusiastically crafted by the SFA minions and IMO didn’t need any encouragement on that one. – That was SFA territory.
It’s possible there were some telly deals – but again should have been straightforward above board – no reason to conceal on the above.
But!;
Is is possible sevco was angling for `compensation` after SPL expulsion? – we don`t know
====================================================================
The compensation has appeared in the form of substantial sell on payments viz Jelavic, possibly enough to keep the show on the road. Ironic considering “big hauns” stuffed Rapid with his reduced transfer payment.
SCOTTC says:
June 21, 2014 at 10:39 pm
I don`t know SC – I know they don’t want us to know – for sure
They`ve spent enough PR money – must be worth their time with deception
I see that we are back to discussing the 5 way agreement. Here is a link to an article by Ecobhoy (Ecojon) which is the best summary of the position that I have seen. Unfortunately the link at the end of the article is long since dead. If anyone has a live link to a copy of the relevant document, could they post it please?
http://scotslawthoughts.wordpress.com/2013/09/16/rangers-given-no-title-stripping-guarantee-in-secret-spl-deal-by-ecojon/
neepheid says: June 22, 2014 at 8:43 am
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Here’s the text of the SPL Undertaking
easyJambo says:
June 22, 2014 at 9:53 am
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neepheid says: June 22, 2014 at 8:43 am
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Here’s the text of the SPL Undertaking
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Thanks, EJ, that’s a great help. It does make you wonder what other “side agreements” exist that we don’t know about.
neepheid says:
June 22, 2014 at 8:43 am
Neepheid – I DO agree LNS could be intrinsic to the 5WA – Just not convinced it was the sole element in the mix that delayed an `agreement` to the very last minute.
Could be wrong – but I`d need a picture of the SFA / SFL together hanging on with gritted teeth to strip titles on the registration and EBTs – only to cave in at the last minute to CG demands.
CGs priority was money – lots of it in `big hands`. Companies House has `assets` `switched` to sevcoScotland on 6 July. 5WA was 27 July. Sevco was committed by then and the SFA could / should have received any agreement in a 5WA they required.
I think its most probable CGs primary interests were financial, not sporting – and with the prospects of millions of pounds lining pockets, not convinced the titles would have been the deal-breaker at the deadline.
There was a lot of CG noise on titles and money. A last minute deal should have sorted money in a Mexican stand-off – but they received a `Conditional Membership` from that agreement – aka – buying time to sort out something else methinks. Just IMO.
Doncaster should be made to explain this agreement ,are there any journos want to redeem themselves,thought not.
Enjoying the World Cup, because the “minor” nations are refusing to lie down. Reminds me of some of this site’s posters. Keep up the good work. Saw this elsewhere and it made me proud of my Club:- http://derekbateman.co.uk/2014/06/20/nice-little-earner/
twopanda says:
June 21, 2014 at 9:10 pm
By it’s very nature (secret) we can only speculate on the whys and wherefores of the 5 way agreement, and while I’m sure your effort may well be pretty close to the mark, I’m also sure that the members of the SFA involved in it won’t be able to give an accurate account, even to themselves, of exactly what happened, and why it happened! I think they made the classic mistake of trusting a spiv (because they didn’t want to see him as a spiv), and despite being in the strong position, ie they had the final say on everything and should have held all the aces, they allowed him to dictate on every aspect of the agreement except for anything that didn’t matter to him. The supporters, and a few stalwarts of our game (TH), stood up to him and a cowering SFA to ensure it wasn’t the disgraceful ‘shoe-in’ they wanted, though there was a slightly less disgraceful ‘shoe-in’ in the end.
At least the president of the SFA has now come out with the answer to the mess his body helped create with this solution (or is it a squirrel?). Yes, summer football is on the agenda, or at least his agenda, probably 50 years after it was first mooted. That man really is a world class administrator!
http://www.heraldscotland.com/sport/football/sfa-president-campbell-ogilvie-forecasts-summer-football-switch-for-scottish-game.24534037
do you ever feel the SPFL are perpetuating their own myth? by making sure the division below the top is getting more exposure and by quoting a lack of sponsorship for the top league, you know the one that has european places up for grabs? that they are somehow trying to confirm their twisted sick logic that without TRFC the entirety of Scottish football is nothing?
Really lads lets not go to any games involving them or and SFA sponsored events…..lets prove walking away is the ONLY way this season
Very depressing to see Campbell Ogilvie has been allowed to bore the pants of us all today about summer football. There are far more important issues to be addressed and shame on each and every journalist who gave this completely compromised man such an easy ride. Can there be a more compliant sports media anywhere in the world?
Upthehoops
Can there be more complaints about a sports media anywhere in the world
Fixed that for you
Allyjambo says:
June 22, 2014 at 11:24 am
I do agree AJ – nicely put 😉
Don`t mind a bit of speculation if they choose to keep secrets on what happens to Supporters cash and trust at the end of the day. They`re not going to tell us anything but as new information comes up we can try to get an idea what they`re into – possibly clearing away false trails.
Fact is 5WA is a heavily guarded secret – but why exactly?
From liquidators reports it seems evident the SFA played hardball on the football debts and prize money – but not clear if SFA got everything they wanted – maybe they did. CG made a lot of public noise about SPL prize money anticipated. Why should that be a secret?
Its possible SFA called CGs bluff on the nuclear option – by hanging on to the deadline – no obvious reason for secrecy.
If the titles business was to go to an SPL tribunal – well, they said that.
We also know from D Grier voice recordings the SFA / HMRC were concerned about any clandestine CW involvement. So it’s not far-fetched that would form part of a final agreement before the then sevcoScotland received a new full membership.
Again – why should that be a secret?
It should have all been open and straightforward – no obvious reason why not.
My simplistic take on the 5wa was always that this was the public agreement. Separately, the three parties SPL, oldco and newco then agreed to take no further action on each other. I’m sure Charlotte released something to this effect. Chaz then stuffed them by not signing it (making it unenforceable) whilst also grabbing the mob high ground to release details that the side indemnity agreements ever existed.
twopanda says:
June 22, 2014 at 12:51 pm
I think the problem was that the SFA/SPL’s start and finish point was ‘save Rangers’ and they were blinded by this, added to their incompetence. It must have been quite similar to the LNS tribunal, where both sides wanted the same outcome. With those honest men from D&P telling them that it was Green or no Rangers then it would have quickly become a case of ‘how can we best help you, Mr Green? There’s actually nothing in this agreement that can’t be circumvented, or the effect reduced. The only thing we really require is for you to settle the football debts – and there are ways of reducing them, we have a Mr Bryson who has all the answers.’
I think Green held a number of aces, all handed to him, but only because there was no will on behalf of the authorities to ensure the rules were adhered to, nor that the integrity of the sport was upheld. Not only did the football authorities let Scottish football down very badly, they allowed an abhorrent spiv and his mates to line their own pockets with other people’s money, many of whom (investors in the various trusts that ‘invested’ in TRFC) will be unaware of how their money was being used (thrown away). This is what happens when people in positions of trust ignore their duties, and the rules, because they don’t understand, or don’t care, why the rules are in place.
By their incompetence/turning a blind eye, the SFA/SPL allowed a great wrong to happen to, not only our game, but to the nation over some 10 years by their failure to ensure the rules were adhered to. By the same token, they have allowed another great wrong, not only to our game, but to many ordinary people who have, collectively, lost millions of pounds – again due to that same failure.
A couple of quick points about England and the World Cup. I’m posting on the main blog because my underlying points are central to TSFM. Homegrown talent and shoddy reporting.
The first is that the problem is not so much the poor performance of those chosen to represent England at the World Cup (although that is clearly a factor), but more to do with a general lack of strength in depth. England can usually pick what is seen as a decent first eleven, but invariably there is very little talent pushing them on. We’ll see if FIFA’s Financial Fair Play initiative has any impact on those English clubs who have focused predominantly on highly paid imports.
The second is that I keep hearing that England v Costa Rica is a meaningless match, a ‘dead rubber’. Of course the truth is that it is only meaningless for England. For Costa Rica it is quite different as they seek to stay top of the group.
Allyjambo says:
June 22, 2014 at 1:38 pm
With those honest men from D&P telling them that it was Green or no Rangers then it would have quickly become a case of ‘how can we best help you, Mr Green?
===============================================
This is the bit I simply don’t get. I can see why the authorities hold value on having such a well supported entity in the league, but why did they fall over themselves to help them? Remember the first proposal (by Doncaster as far as I’m aware) was acceptance into the SPL with just a ten point deduction. Quite incredible when you think of it. Why oh why?
upthehoops says:
June 22, 2014 at 1:58 pm
‘but why did they fall over themselves to help them?’
________________________
Might I suggest habit? Though there’s also the distinct possibility that D&P had in their possession letters and emails that gave a clear indication of just how much was known by the SFA/SPL of the dual contracts and other things they should have acted upon in preceding years. Then there’s always the fear factor; of the known, the unknown and the highly likely. There’s also the fact that for many, when you have a nice, easy, well paid job, the last thing you want is a massive change. I think there will be an awful lot of possible reasons for the authorities actions, with a combination most likely, and none of them good nor proper.
Again my take on it is a simplistic one. They still genuinely consider, or at least genuinely wish to treat the side letters issue as on a par with a clerical mistake. They take no cognisance of the fact that it was tied implicitly to tax fraud (which the BTC then unexpectedly complicated further) and similarly wished to treat it as a one off error a la Spartans despite its recurrence several times over several years and by it’s very nature could easily be seen to “result changing”. It’s not to say it was particularly a pro rangers thing either but pro big team first and foremost.
Sorry, pressed send to early!
Where I believe the biggest error was made was with LNS. By that point the existence of the side letters was unquestionable, albeit as I said above they had been deemed non taxable. But they existed, and thus RFC were by definition in breach of contract regulations. Secondly, crucially, RFC were in liquidation. So why not, on finding them guilty, charge them £20m or some sch figure. It wasn’t going to be paid anyway. Lots of press to reflect the gravity of the situation etc etc but fundamentally a completely cosmetic exercise.
Why was this not done? Why the same club charade, that’s why!
Ironically, this was the point I knew that it couldn’t continue well for Sevco. The 250,000 was begging to be paid as a goodwill gesture reflecting RFC’s responsibilities ya de ya and the same club different company arguement would have been sown up for good. When he didn’t his lack of ” a pot” became glaringly obvious.
And we are where we are!
Allyjambo says:
June 22, 2014 at 2:15 pm
=======================
Good point. The SFA may simply have been protecting themselves.
Lord Wobbly says:
June 22, 2014 at 1:40 pm
Agree about the ‘dead rubber’ comment.
As usual it’s all about England!
However at least they haven’t sunk as low as our media by claiming that the tournament is devalued because Spain and England aren’t there!!!
Allyjambo says:
June 22, 2014 at 2:15 pm
An entirely possible scenario….
Allyjambo says:
June 22, 2014 at 1:38 pm
Allyjambo says:
June 22, 2014 at 2:15 pm
😉
Yep – Thanks for that AJ. Could be [me not keeping up] getting to the nub of it – The `history` that CG bought and D&P `sold`. CG didn`t get cash he wanted from 5WA. Did he wait for `Conditional` membership before not signing or qualifying a probably legitimate commercial confidentiality clause? If that’s true, they`ve been trying to keep a lid on it ever since – possibly even affecting the LNS surprising `verdict`. If that`s true we`ve been fed squirrels from day one by the PR machine.
Possibly more evidence PR is immoral as are those that print what they`re given.
And reality consequences – SFA FPPs doesn’t seem to much effect – all of originals replaced in less than a year [and there`s still doubts on Green]. Financial checks in tatters. Still no explanation of how CW could get to where his claim is – or how could that have happened.- Claims of `forged` signatures on s5088 Directors appointments seem to left hanging. PM `Inquiry` [secret in effect]. CG can announce a comeback – only sensible Bears resisting that. I don`t see how it could get much worse [but it probably will]
I don`t doubt the `save `Rangers` mantra from so called authorities – Personally I am not agin to saving a big Club – any Club. There are legitimate commercial and social reasons for doing that
– but what`s happened is wild beyond belief.
Reality brass tacks – spivs are currently exploiting every opportunity to make as much cash as they can – as quickly as they can – and nothing to stop them.
Best if everyone came clean – that`ll be a good start to sort things IMO – and restore Trust.
Do you think Charles Green will ever write a book about his time at ibrox?
Cluster One says:
June 22, 2014 at 6:26 pm
Do you think Charles Green will ever write a book about his time at ibrox?
____________________________________________________________
And if so what would be the title? Guesses/predictions anyone?
I have been following the discussion on the 5 way agreement today with interest . Each poster is wondering, “what are they hiding”.
I posted on the previous blog, that the Crown Office had, on 25 June 2012 ,instructed Strathclyde Police to investigate the original purchase of Rangers by Whyte from Murray. Subsequent to that order it was reported that several “raids” had been carried out by police . Since then , I can recall no other update. Can anyone ?
It seems to me that the wheel is about to turn the full circle here, and the only way to begin to understand what has actually transpired in this whole episode, is to have all individuals concerned formally interviewed, and called as witnesses. Otherwise the truth may never be revealed.
Has any of our contributors ever totalled the cash that has evaporated from the pockets of creditors, taxpayers and investors as a result of Project Ranjurs during the Murray/Whyte/Green and post-Green spivvery years? It must be a truly staggering sum by now!
How can a national FA support, condone, facilitate or authorise any club that has been responsible for such goings-on? It is truly shameful that the custodians of our game have allowed this to get so far.
The more I re-visit or am reminded of what has already been allowed to pass, the angrier I get.
Are the SFA and the SPFL actually aware, that every penny they receive, directly or through sponsorship, actually comes to them from the ordinary fan’s pocket? I hope, when they do get sponsorship, that many fans will contact sponsors and say that we won’t be consuming their products unless fans’ concerns are addressed by better accountability in how our game is governed.
Time, too, for a bit of a serious revamp of company law, far too much of which, at present, allows for legalised fraud and theft and plenty willing to perpetrate them.
Jean7Brodie says
June 22 6.51 pm
How about an old Max Bygraves number “You need hands”. Or “Got to pick a pocket or two” ?
CMONTHESHIRE says
June 22 @7.52
Bang on! You could add that not many season ticket buyers understand that approximately 20% of their ticket money is VAT. If the recipient of the ticket money does not, as he is required to by law, account for that and remit what is due to the tax authorities, then he is effectively stealing from those buyers. Same goes for the employees at the club… What happens when they hit retirement age, when they claim their pension and receive a letter telling them their pension has been reduced because their contributions are one year short?
How about football `debts`? – anyone think the spivco`s doubled co tax structure – could relight with one co under 16-19m football plc `soft` debts? – Bears should be paying attention.
cmontheshire says:
June 22, 2014 at 7:52 pm
========================
Having witnessed many creditors including the public purse being stuffed for millions, the SFA were willing to accommodate the club from Ibrox in the top league, and failing that the 2nd top league. A strange, strange message to send out, to say the least.
‘Great Expectations’ or ‘Bleak Hoose’?
PhilMacGiollaBhain says:
June 22, 2014 at 4:38 pm
Surely Phil you are not suggesting that there are certain individuals that already have this information and are not publishing it?
Shock horror!
This would expose once and for all that the team playing out of Govan DID receive preferential treatment from the powers who administer our sport for at least the last FIFTEEN YEARS.
It would mean that our sport has been corrupt for over a decade. It would also beg the question, if this level of deceit was in the corridors of power, if all the “honest mistakes” were just that or did the compliance extend into the refereeing fraternity.
Worse than that, for more important reasons, it would indicate that the media are incapable of doing their job, which in a modern democracy is pretty scary.
About six months ago there was word about a story that Alex Thompson was about to run that was pretty explosive and that it had spent nearly a week with the lawyers. It was supposedly set to go one Friday but never appeared amid hints that the lawyers had blocked it.
What does that really say about the journalistic community where they won’t print the truth for whatever reason?
Truth really is the first casualty when journalists, yes journalists, hide behind the line “It is not my story to tell”!!
If they know then it is their story to tell because that is their job. To break a story, or tell it, is what a journalist should be about.
If you take all that as true then the game is lost. Worse than that the clubs themselves accept that it is lost because I’m sure that, up and down the country, within many a boardroom there are people who know what has happened but they are perfectly happy to go along.
Why are they happy to go along?
Possibly the also favour the chosen club over the others in the Premiership, or certainly one.
Perhaps they believe that, particularly for the teams in the lower divisions, don’t care what happens at the higher levels of the sport.
Perhaps they have no ambition to grow their own club from the vacuum that would be created from the destruction of the Govan franchise.
Ultimately it matters not what their reasons are.
Inaction is acceptance of the unacceptable and all of the above are equally culpable as they have done nothing to bring this issue into the public gaze.
justshatered says:
June 22, 2014 at 8:55 pm
What!? MSM is vitally important to City Centre Watering holes
You`ll be telling me next this all makes sense 😉
Except it doesn’t and they`re crap
We await the new world
Re the title of a Charles Green book about Rangers. This one is a bit long winded, but hails from Yorkshire, and pretty much sums it all up
‘Ear all, see all, say nowt;
Eyt all, sup all, pay nowt;
And if ivver tha does owt fer nowt –
Allus do it fer thissen.’
Translation: ‘Hear all, see all, say nothing; Eat all, drink all, pay nothing; And if ever you do anything for nothing – always do it for yourself.
Of course, Charlie did say plenty, but he said it for himself!
justshatered says:
June 22, 2014 at 8:55 pm
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PhilMacGiollaBhain says:
June 22, 2014 at 4:38 pm
Surely Phil you are not suggesting that there are certain individuals that already have this information and are not publishing it?
Shock horror!
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I do realise that it takes a bit of believing….
PhilMacGiollaBhain says:
June 22, 2014 at 9:56 pm
So why don’t they publish?
Are they still doffing the cap?
Judging by your comment you know who has the information and indeed you have the same information.
So what is your excuse for not publishing?
Surely it can’t be to protect sources because, if other people have the story, it is highly unlikely that they have ALL got it from the one source. In other words the story already has leaked to the chosen few but it is like a secret society of yesteryear “No one talks about Fightclub!”.
The only reason I can think of is that it has been blocked for legal, and by that I mean prosecutorial, reasons but yet again any prosecution is taking an age. It is not as if they are hunting down Nazis in the South American continent in the early 1950’s. We all know who the guilty parties are.
So why doesn’t anyone want to be the Woodward or Bernstein of sport?
Sure there will be the initial threats but when the truth is out and it is clear who their “real enemies” are and by that I don’t mean the journalists but the people who tore down the club and those who subsequently covered it up.
So what is the reason?
A poster on JambosKickback has a friend who works with Deloittes – He spoke to him this weekend.
Nobody at Deloittes wants to do the Sevco audit. My mate said, “no way” would he do it.
No auditor will sign their name to the audit, if the accounts get signed off it will be by “Deloittes” rather than by e.g. Joe Bloggs, Deloittes.
Having the Sevco contract does nothing for the reputation of Deloittes.
Instead of taking their fee, but being unwilling to individualise the partner responsible for the audit, why doesn’t this multinational accountancy giant not grow a pair and refuse to have any more to do with the Govan charlatans and walk away, citing their misgivings to as many bodies as will listen. Their audit fee is but a drop in the ocean as opposed to the negative publicity any investigation may attract in the future.
Justshatered says
June 22 2014 @1018pm
Woodward and Bernstein
Remember what Deep Throat said to Woodward? Follow the money!
The love of money is the root of all evil.
SDM flogs to CW for £1; CW pays off Lloyd’s using cash raised by allowing Ticketus to sell Season Tickets to Ranger’s fans for the next three years. Unfortunately, Ally McCoist makes an absolute bollox of managing one of the best resourced clubs’ in the country. CW decides not to pay tax and national insurance, thereby ensuring that a CVA will not be agreed by creditors. Charles Green offers to buy assets (including the Albion Car Park) from Duff & Phelps. In fact, CG bought these assetshttp://news.stv.tv/west-central/108240-rangers-crisis-ibrox-and-murray-park-hived-off-to-separate-newco/.
And yet when CG undertook ‘the most successful IPO in football history’ he used some of the proceeds, which he had assured investors would not be used for running costs, to purchase the Albion Car Park. And yet,http://www.dailyrecord.co.uk/sport/football/rangers-in-crisis-administrators-report-reveals-1166590.
Did sevco buy The Albion Car Park twice? If so, why? Who collected on the ‘onerous contract’?
I believe the redoubtable George revealed the car park and Edmiston property “contracts” went to one of the Directors wives “offshoots” circa Stockbrdidge et al.
James from the Drum
Any indication other than Jan 2015 when we may get back to the Charlotte revelations “do” in London?
Particularly looking forward to this with the competing Rangers squad valuations in the mix. Craigy didn’t seem to think (on tape) they wer worth much but the BDO position will be bound to differ. and who will the valuation expert be?
easyJambo says:
June 22, 2014 at 10:20 pm
‘…Having the Sevco contract does nothing for the reputation of Deloittes. ‘
————-
AJ, out of self-developmental interest, I had a wee look at Deloitte in Scotland.
I came across this:
Email: cwgibson@deloitte.co.uk
Phone : +44 (0)141 304 5126
Location: Glasgow
Colin leads Deloitte’s audit business in Scotland and Northern Ireland. Based in Glasgow, he has worked in practice for over 25 years, working with many of Scotland’s listed and larger private companies.
A member of ICAS, Colin also sits on the ICAS Business Policy Committee.
Expertise
External audit
Internal audit
Governance and risk management
Public company reporting
Expert accounting witness
Recent audit experience
1887 group
J&J Denholm
Wood Mackenzie
Scotmid
Skyscanner
Murray Capital
Worldmark
Johnston Press ”
I pass no comment, except to say that , if you look at the whole Deloitte global set-up, it’s just a kind of franchise affair [shades of Josephine Tey!] kind of like Duff and Phelps New York. Individual accountancy firms/insolvency practitioners paying money to use a name, a name which would very quickly deny any liability for anything the firm did!
I can feel a wee email to Deloitte in Scotland coming on! If they have had an audit connection with Murray Capital….
A quiet shift. But I was intrigued to read about Deloitte, and its thousands of ‘dedicated’ folk out there , of the highest integrity, helping other folk of the highest integrity to make money, dodge tax, spout a whole lot of crap about their own (self-certified) excellence etc etc. So, I fired off this email to Deloitte in Scotland:
“Dear Mr Gibson,
I gather from various sources that Deloitte-in-Scotland is currently Auditor to Rangers International FC/The Rangers Football Club (TRFC).
There is, it appears, some question about the continuing viability of TRFC as a going concern.
Indeed, speculation has it that Deloitte has been very long-suffering and patient in dealing with a deeply troubled TRFC.
Regrettably, speculation further has it that that patience and forbearing has been somewhat compromising of true Auditor professionalism, given the truly parlous state of the finances of TRFC and the sheer financial recklessness or incompetence of its Board.
Even more regrettably, some see this apparent readiness to drop professional standards as being due to a blinkered, emotional partisanship not unconnected with the the fact that Deloitte-in-Scotland has had an audit connection with Murray Capital.
Base minds, I need hardly remind you, may be tempted to see any Audit- compromising, in respect of the finances of TRFC, as indicative of some kind of readiness to accommodate the wishes of a past and present or potentially future client, who had somewhat questionable involvement in affairs which led to the birth of TRFC.
Now, Caesar’s wife, as I am sure you know, had not only to be innocent, but had to be above any suspicion!
And you will know far better than I, or any other member of the public who might be looking forward to investing in RIFC/TRFC, just how critical to potential investors ( or even man-in-the -street season ticket purchasers) is the professional opinion of respected Auditors as to the financial soundness of a company.
And how damaging to an Auditor would be any hint of blind-eye-turning to serious financial problems.
In the opinion of many reasonably knowledgeable people, the good name of Deloitte-in-Scotland would be totally destroyed if they were to sign off TRFC’s accounts in the present circumstances.
But, of course, you will undoubtedly be aware of this.
Yours sincerely,
John Clark
John Clark says:
June 23, 2014 at 12:27 am
easyJambo says:
June 22, 2014 at 10:20 pm
‘…Having the Sevco contract does nothing for the reputation of Deloittes. ‘
————-
AJ, out of self-developmental interest, I had a wee look at Deloitte in Scotland.
…
Recent audit experience
1887 group
J&J Denholm
Wood Mackenzie
Scotmid
Skyscanner
Murray Capital
Worldmark
Johnston Press ”…
=======================
As an aside – it’s a small world !
In the interests of anonymity, several years ago I accepted a senior role at one of the above, listed companies, [not Murray Capital !].
To cut a long,boring story short I was sold the position on false assurances/guarantees – which I was only able to become aware of after I started. [You don’t typically expect to get lied to at interviews.]
Anyhoos, the point is that I wanted exposure to venture capitalists as a potential career change.
I lasted 3 months before I simply walked away – because I refused to put my name to their shenanigans, and I valued my personal integrity – and my professional qualification.
There is creative accounting – and then there is just lying, massaging numbers, and out and out spivvery !
How this company managed to achieve unqualified audits over the years is anybody’s guess.
That’s as close as I came to becoming a VC.
And I also found out much later that a previous senior appointee walked out of that company at the end of his first day…[in my defence I didn’t have any informal info sources on the company as I was returning from working overseas.]
Maybe they drew straws at Deloittes to see who would work on the RIFC account – or maybe not if they are not that fussed about the probity of their clients ?
davythelotion says:
June 22, 2014 at 11:16 pm
Did sevco buy The Albion Car Park twice? If so, why? Who collected on the ‘onerous contract’?
===========================
Clearly Sevco didn’t buy the car park twice. Neither the Albion Car Park nor Edmiston House were owned by RFC. Edmiston was owned by a David Murray company called Charlotte Ventures, and the car park by Capital Bank Property Ventures. RFC did have a lease arrangement for the use of the car park, and it is that leasehold interest which D&P transferred to Sevco.
To be fair to Green, the purchase of the freehold of both the car park and Edmiston House was fully disclosed in the AIM prospectus ( http://www.rangersinternationalfootballclub.com/images/staticcontent/documents/RFC_Prospectus.pdf ) specifically at paragraphs 12.1.5 and 12.1.6. Here is the general blurb
As regards onerous contracts, I can see that the car park could provide someone with a very nice little earner. However Edmiston House is standing empty and derelict, just waiting to be demolished by the looks. I find it hard to see how it could have provided the basis of an onerous contract over the last two years.
neepheid says:
June 23, 2014 at 8:32 am
However Edmiston House is standing empty and derelict, just waiting to be demolished by the looks. I find it hard to see how it could have provided the basis of an onerous contract over the last two years.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Was Garrion Securities standing guard over the asset?
Have you never heard of Big Hands Demolition Services (Yorkshire & Normandy) Ltd 😉
neepheid says:
June 23, 2014 at 8:32 am
‘However Edmiston House is standing empty and derelict, just waiting to be demolished by the looks. I find it hard to see how it could have provided the basis of an onerous contract over the last two years’
__________________
Security? Maintenance? Or maybe even irrevocable contracts that assumed the property would be put to some use, but as it lies empty, onerous penalties have to be paid? Such contracts may well have been created in the full knowledge that Edmiston House was never going to be used in a way that the contracts could be fulfilled – so much better to get paid for not doing something than for actually doing some work!
Not being well versed in the laws of contract I’d still suspect that such contracts might be set aside if challenged in court. But who is going to do that when, as seems likely, the people benefitting from those contracts are well represented inside the TRFC boardroom? It seems to me, since learning of these ‘onerous contracts’ that Green has set up the perfect spiv conduit for other people’s money. He’s set up a very high profile company, with an almost guaranteed annual income from dedicated customers, and has induced investors, and supporters, to ‘invest’ in this company. All he then needed to do was to ensure a compliant board (his mates) and to set up these contracts to syphon the money out. Sadly, it would appear that this is all legal, and so the worst that could happen to him and his mates is for the boardroom to change to ‘real Rangers men’ and have the contracts set aside and the money machine broken. This might also explain why the big players are prepared to invest, apparently, a further £8m in a rights issue – to secure that control of the board for ever, or at least as long as RIFC/TRFC exists, keeping the escape routes for the money open! After all, however much money is raised in the rights issue (or any other issue of shares) is going to make it’s way through the same process to the same pockets where much of the money came from. Only those not actually in on the scam will lose anything (the lot).
Disclaimer: I am not a financial advisor and do not recommend the above described investment plan to anyone not well versed in spivery.
John Clark says:
June 23, 2014 at 12:27 am
I pass no comment, except to say that , if you look at the whole Deloitte global set-up, it’s just a kind of franchise affair [shades of Josephine Tey!] kind of like Duff and Phelps New York. Individual accountancy firms/insolvency practitioners paying money to use a name, a name which would very quickly deny any liability for anything the firm did!
========================================================
JC…before you are deluged with emails threatening lawsuits, I can assure you that, nothwithstanding my numerous reservations re Deloittes, they are NOT a franchise nor do they operate anything approaching such.!
Whether Deloitte’s are a Franchise or not; their dealings would seem to verge on the criminally actionable.
This from today’s Guardian
http://www.theguardian.com/business/2014/jun/22/deloitte-could-face-prosecution-comet-redundancies
“Lawyers for workers sacked when electrical goods retailer Comet collapsed in 2012 have asked a government investigation to consider whether Deloitte, the administrators involved, should face criminal charges.
The lawyers have passed on the details of a tribunal judgment, published this month, which states that Chris Farrington, one of three Deloitte administrators, signed a letter to the secretary of state, Vince Cable, in November 2012 stating that there were “no proposed redundancies at present” at Comet.
The tribunal found that redundancies were being actively considered at this time”
The article goes on to say that a Leeds judge ruled Deloitte’s failed to consult with staff over redundancies in the Woolworth’s administration and this decison will lead to increased compensation totalling 25 million.
I’d say they are ideally suited to be the spivs auditor of choice.
The 5 way agreement has, by Chinese whispers, taken on arms and legs. What must be remembered is that the outcome was decided and the reasons made to fit that decision.
Whatever is decided, the team from Govan must be helped or our national game is going down the toilet and as we all know, that turned into a pile of crap.
When I think of what went down, it actually angers me and even more so when the culprits are sitting in their ivory towers untouchable…or are they???
I’m a great believer in examining the actual words(weasel) used by certain ‘professionals’. Once more, ‘no proposed redundancies’ can live perfectly happily alongside “redundancies were being actively considered at this time”.
“Whilst we are considering the possibility of redundancies, we have no firm proposals at this time regarding scale or timeframe”
Statements coming out of Ibrox are full of this type of apparent ‘inconsistency’ with other statements or rumours, but when you look at what is actually said they are often entirely consistent with the rumour being true. Check out the denial type statements particularly. Another of the ‘benefits’ of the seperation of TRFC and RIFC
Donegaltim says:
June 23, 2014 at 2:21 pm
The 5 way agreement has, by Chinese whispers, taken on arms and legs. What must be remembered is that the outcome was decided and the reasons made to fit that decision.
—————————————————————————————————
Aha!!! A brilliant opportunity to use one of my favourite words 😉 What you describe above, Donegaltim, is certainly Procrustean!!!
I have extensive experience of some systems like this in education!!
*** Pro·crus·tes: a villainous son of Poseidon in Greek mythology who forces travelers to fit into his bed by stretching their bodies or cutting off their legs.
vjustpedylan says:
June 23, 2014 at 1:04 pm
Whether Deloitte’s are a Franchise or not; their dealings would seem to verge on the criminally actionable.
This from today’s Guardian
http://www.theguardian.com/business/2014/jun/22/deloitte-could-face-prosecution-comet-redundancies
“Lawyers for workers sacked when electrical goods retailer Comet collapsed in 2012 have asked a government investigation to consider whether Deloitte, the administrators involved, should face criminal charges.
The lawyers have passed on the details of a tribunal judgment, published this month, which states that Chris Farrington, one of three Deloitte administrators, signed a letter to the secretary of state, Vince Cable, in November 2012 stating that there were “no proposed redundancies at present” at Comet.
The tribunal found that redundancies were being actively considered at this time”
===========================
Another way of looking at it is what kind of mess are Sevco Really in when Deloitte are threatening not to sign off on the accounts.
Ogilvie’s elevation to FIFA ?
=======================
I fully expect that whatever further revelations are publicised about Ogilvie’s past ‘manoueuvrings’ wrt RFC/TRFC, it simply will not harm his chances of gaining a position within FIFA – at all.
In ‘proper’ global organisations you could quite easily have a few, e.g. isolated cases of far flung outposts being caught up in corruption. If/when it is uncovered HQ sends out it’s own people to get it sorted ASAP, [normally].
However, if you have the HQ being openly regarded by the public as being corrupt, [e.g. FIFA], then it would be irrational – IMO – to then expect that the underlying national organisations, [e.g. SFA], are squeaky clean.
If the top is corrupt, then it is probable that there is corruption throughout the organistion – to varying degrees – right down to the bottom.
So Ogilvie – for all we know – might be highly regarded by FIFA because of precisely what he has done for RFC/RIFC/Scottish football.
I wouldn’t be at all surprised if he gets a FIFA role – and regardless of any protests/petitions etc.
He will fit right in. 🙁
scottc says:
June 23, 2014 at 2:43 pm
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I’m a great believer in examining the actual words(weasel) used by certain ‘professionals’. Once more, ‘no proposed redundancies’ can live perfectly happily alongside “redundancies were being actively considered at this time”.
“Whilst we are considering the possibility of redundancies, we have no firm proposals at this time regarding scale or timeframe”
Statements coming out of Ibrox are full of this type of apparent ‘inconsistency’ with other statements or rumours, but when you look at what is actually said they are often entirely consistent with the rumour being true. Check out the denial type statements particularly. Another of the ‘benefits’ of the seperation of TRFC and RIFC
________________________________________________________________________
Like, say……….. “What I can categorically say to all Rangers fans worldwide is there is no threat of a second administration.”
well, I guess there has to be a first one first….
imBhoy says:
June 23, 2014 at 3:53 pm
The austerity is they are now getting in free agents.
Let us not forget that when all was supposed to be fine and dandy in 2011/12 Whyte brought in 9 players at a cost of circa £4.3 and offered long term contracts to a further 6 or 7 so they had a ‘squad’ of 35 including a god number of high earners.
http://en.wikipedia.org/wiki/2011%E2%80%9312_Rangers_F.C._season#In
The men in charge now wouldn’t make the same mistake again – would they?
Tightrope Act IMHO
justshatered says:
June 22, 2014 at 10:18 pm
You have answered your own question…
PhilMacGiollaBhain says:
June 23, 2014 at 4:31 pm
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justshatered says:
June 22, 2014 at 10:18 pm
You have answered your own question…
_____________________________________
BDO NOT finger sitting?
Prosecutorial reasons. Taking and age?
(Knock once for yes, twice for no…)
@WOTTPI Didn’t Waldo say recently that Mr McCoist should not have been allowed to bring in the last bunch of free agents. maybe that was for the league below and now it’s OK…
Interesting interactive graphic from the New York Times which highlights how European leagues dominate the WOrld CUp in terms of players. Given that the current head of FIFA is being challenged by UEFA, perhaps is they grow some ballons a result could be forthcoming? I do hae ma doots though. The self-serving clubs are unlikely to do anything that upsets the money-making-merry-go-round…
http://www.nytimes.com/interactive/2014/06/20/sports/worldcup/how-world-cup-players-are-connected.html?_r=0
Classic Slip or Last Minute Sanity ?
Daily Mail sub-headline:
Boyd was due to sign for Aberdeen until last-gasp intervention by Aberdeen
http://www.dailymail.co.uk/sport/football/article-2665933/Kris-Boyd-rejoins-Rangers-ditch-bid-snatches-striker-Aberdeen.html
wottpi says:
June 23, 2014 at 4:30 pm
Let us not forget that when all was supposed to be fine and dandy in 2011/12 Whyte brought in 9 players at a cost of circa £4.3 and offered long term contracts to a further 6 or 7 so they had a ‘squad’ of 35 including a god number of high earners.
==============================================
They can do what they like it seems. Every other club has to live within its means and they clearly don’t. What odds on Bougherra being next to step back through the front door!
@MCFC
How often do you see part of a headline with a kind of qualifying statement like that in parenthesis?
Someone has had a healthy dose of skepticism.
Looks like Eddie has the bit between his teeth:
@eddiegoldtop: Anyone who knows of someone who works at the top end of any company Involved in sponsoring Scottish sport please get in touch.
@eddiegoldtop: I’m also looking to talk to ANY sponsors of Scottish football as many as possible. Please help me with contact details .
@eddiegoldtop: Im looking to contact as many executives of high profile sponsors of Scottish football as possible so that I can discuss Issues.Please help.
torrejohnbhoy(@johnbhoy1958) says:
June 23, 2014 at 7:09 pm
Eddie doing a sterling job.
torrejohnbhoy(@johnbhoy1958) says:
June 23, 2014 at 7:09 pm
Looks like Eddie has the bit between his teeth:…
======================================
I think Mr.eddiegoldtop has a cunning plan ! 😀
Shirley the SFA will have to react: they won’t know how many responses he gets from sponsors.
Maybe egt will get an invite to Hampden for afternoon tea and a wee chat ?
And Ogilive, Regan and/or Doncaster might have to come out of the bunker to launch a charm offensive for sponsors ? :weesickemoticon:
Could be fun…
StevieBC says:
June 23, 2014 at 7:43 pm
‘I think Mr.eddiegoldtop has a cunning plan ! 😀 ‘
——————
Looks like Oor Eddie is letting the Un-dynamic duo know he is upping the ante!
If Eddie is in favour, and I’d suggest taking no action until he gives it the go ahead, would it be a good idea for us (at least one from each club) to post on the various fan sites that Eddie is looking for football sponsors to contact him? If Eddie is in favour, he could supply us with his preferred method of contact for a response. I repeat, though, that this is Eddie’s brainchild and it’s best to let him run with it in his own way and wait for his clearance before acting.
Unclear if the consequences of the 5wa are limited to sevcos and the football `Authorities`
Most important is whether other Club Boards are content with things as are – or were aware – or were blindsided on the 5wa `events` and hope it just goes away. Perhaps it may not worry them and /or they don`t want to get publically involved. But CG seemed [or seems] to do what he likes with impunity and that must be a concern for overall standing and commercial interests of the Game.
Secondly, on record, the admins [Court Appointed] represented RFC 2012 [IA] in the 5wa – was it signed?
& could the `sale` be considered complete without a new SFA membership? – conventional thinking suggests one thing you do with contracts is make sure there`s a way out of them if you need to. – [s5088 confidential terms letter? – we don`t know]
Plus – Suspect CW may, or perhaps needs, to await the liquidator’s view of events.
torrejohnbhoy(@johnbhoy1958) says:
June 23, 2014 at 7:09 pm
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Looks like Eddie has the bit between his teeth:
@eddiegoldtop: Anyone who knows of someone who works at the top end of any company Involved in sponsoring Scottish sport please get in touch.
@eddiegoldtop: I’m also looking to talk to ANY sponsors of Scottish football as many as possible. Please help me with contact details .
@eddiegoldtop: Im looking to contact as many executives of high profile sponsors of Scottish football as possible so that I can discuss Issues.Please help.
_________________________________________________
Eddie, you have a pm.
Danish Pastry says:
June 23, 2014 at 6:56 pm
4 0 Rate This
@MCFC
How often do you see part of a headline with a kind of qualifying statement like that in parenthesis?
Someone has had a healthy dose of skepticism.
=========================================================
DP…I will bet what is left of my meagre pension pot on suggesting that you got an “A” in your Higher English…?…I can hardly spell “brackets”
essexbeancounter says:
June 23, 2014 at 8:54 pm
1 0 Rate This
———
Haha, there goes your pension 😆
I actually got it wrong and used the spell checker 😳
Resin_lab_dog says:
June 23, 2014 at 8:19 pm
4 0 Rate This
Eddie you have a PM.
Thanks Resin.
I’ve replied in confidence . ( Our very own 2 way agreement ) .
Your Information is much appreciated and I will look into it.