It Takes Two to Tangle

ByTrisidium

It Takes Two to Tangle

 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 (http://archive.sfm.scot/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

  1. There had been entries every year since 2000 in Rangers Annual Accounts of sums of money being placed in employee benefit trusts
  2. 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.

 

 

 

 

 

 

 

About the author

Trisidium administrator

Trisidium is a Dunblane businessman with a keen interest in Scottish Football. He is a Celtic fan, although the demands of modern-day parenting have seen him less at games and more as a taxi service for his kids.

1,247 Comments so far

twopandaPosted on6:03 pm - Jun 27, 2014


Why should supporters pay for `re-structuring` of companies less than two years old?
They pay to watch live football – not needlessly line pockets for years

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scapaflowPosted on6:06 pm - Jun 27, 2014


StevieBC says:
June 27, 2014 at 5:48 pm

Cos they are where they are. Its radical surgery or die

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Carfins FinestPosted on7:09 pm - Jun 27, 2014


As has been aluded too here already there MUST be something we are not seeing. There has to be more to this than meets the ever vigilant eye of the ‘bampot’. Having followed this story from the very start and being consumed with it at times I still cannot fathom out WHY? Why, when we all seem to agree that this is a financial hand grenade, why are foreign investors still here. They were apparently handsomely reimbursed for their initial financial input so why hang around. Why still so secretive. The tie in with the Easdales is very strange indeed but then again so is almost evrything to do with this saga. Where is trhe connection between the middle East mob, the Easdales,King and Whyte. There simply has to be one IMO.
I suspect money laundering on some scale could well be unearthed. Thats all I can come up with just now. That will of course all change by Monday.

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twopandaPosted on7:21 pm - Jun 27, 2014


`restructuring` ?
Ibrox needs to come clean with their support

Onerous leeching stuff needs dumped – compensation sought from perps
Not rocket science

They do or they don`t

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South0fThe BorderPosted on7:23 pm - Jun 27, 2014


StevieBC says:
June 27, 2014 at 5:48 pm

And the running theme has been that the main shareholders of RIFC are only interested in money – and don’t really give a monkey’s about any football team. They would be more interested in e.g. the properties than the team. So why keep funding TRFC for the last 2 years ?
Some info. must be missing, IMO. [Speculation on my part only.]
______________________________________________

See Goosy’s comment – June 26, 2014 at 11:36 pm on the previous page:
http://www.tsfm.net/it-takes-two-to-tangle/comment-page-8/#comment-24471

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StevieBCPosted on7:38 pm - Jun 27, 2014


South0fThe Border says:
June 27, 2014 at 7:23 pm

StevieBC says:
June 27, 2014 at 5:48 pm

See Goosy’s comment – June 26, 2014 at 11:36 pm on the previous page:
http://www.tsfm.net/it-takes-two-to-tangle/comment-page-8/#comment-24471
=====================
That’s exactly one possibility that I was alluding to – but there could be other reasons ?
I don’t know.

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twopandaPosted on8:19 pm - Jun 27, 2014


I counted over seventy [70] MSM `articles` on a Ken Millar
There’s about thirty [30] on K Boyd [so far]
One [1] `exclusive` on a prospective frontman
And zilch [0] on what’s going on
When’s the next award ceremony? 😉

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Resin_lab_dogPosted on9:03 pm - Jun 27, 2014


twopanda says:
June 27, 2014 at 8:19 pm

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I counted over seventy [70] MSM `articles` on a Ken Millar
There’s about thirty [30] on K Boyd [so far]
One [1] `exclusive` on a prospective frontman
And zilch [0] on what’s going on
When’s the next award ceremony? 😉 #

____________________________________________

Surely this is a sign that we are past the point where anyone who actually wanted to know the first thing about anything that is going on would ever resort to buying a Scottish red top?
More chance from looking at goat’s entrails than relying on the Scottish MSM for your information.

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AllyjamboPosted on9:06 pm - Jun 27, 2014


It does seem strange that no journalist has had his curiosity piqued by this swing from close to broke (from TRFC’s own statements) to signing more players. You’d have thought that even the most succulent reporter would be desperate to let the public, and most importantly, the TRFC support, know whatever it is that has led to this amazing turnaround.

I suspect, though, that with the opening of the transfer window that some movement of players might well begin, with their few saleable players having their contracts bought out with whatever transfer fee is paid to enable them to move on to a more realistic wage elsewhere. If they are successful in moving some on in this way then the salaries that Boyd and Miller are on will amount to pretty good business. The problem comes with the players that are unlikely to command a fee, and I’m sure they outnumber those who do. The problem will be exacerbated by any of the ‘saleable’ players who go for less than envisaged, or for nothing at all.

It is also possible that the signing of two genuine ‘big name’ players might put, or be used to put, pressure on the existing overpaids to accept a reduced salary, or at least forego any rises. There does seem an incredible imbalance between the assumed wages of Boyd and Miller and the rest, which could well lead to some disruption amongst the players should things not go well at some point! It won’t be easy for the two to accept criticism from lesser players on more than double their salaries without, at the very least, some resentment, but more likely, much truth telling. Like, ‘you’re nothing but a ****ing wage thief!’ It could be quite a heated dressing room at Ibrox next season, well at least for the first couple of months…

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AllyjamboPosted on9:14 pm - Jun 27, 2014


Resin_lab_dog says:
June 27, 2014 at 9:03 pm

Surely this is a sign that we are past the point where anyone who actually wanted to know the first thing about anything that is going on would ever resort to buying a Scottish red top?
More chance from looking at goat’s entrails than relying on the Scottish MSM for your information.
_________________________________________

A sure tell sign of the poverty inflicting the SMSM, moving from succulent lamb to goat’s entrails…

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EddiegoldtopPosted on9:16 pm - Jun 27, 2014


John Clark says:
June 26, 2014 at 10:09 pm
67 0 Rate This

John,
Count me in as a willing contributor to any fundraising.

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ianagainPosted on9:35 pm - Jun 27, 2014


Eddiegoldtop says:

June 27, 2014 at 9:16 pm

3

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John Clark says:
June 26, 2014 at 10:09 pm
67 0 Rate This

John,
Count me in as a willing contributor to any fundraising.
===========================================

Me to JC lets give it a go.

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ianagainPosted on9:47 pm - Jun 27, 2014


Here’s where Boyd’s 100k is coming from don’t know how the rest works:

From RR

10 Jun 2014 07:49:04
Wull 61 are you saying that rangers are going to get money from transfers that were carried out before liquidation, all that money must go to the creditors of Oldco. I can’t see for one second BDO handing over money that’s due to creditors, they would have been run out of town by creditors lawyers. Who would sanction this in the 1st place D+P if so the creditors lawyers will be after them.

mullad
Yes because newco claimed they had bought the rights to transfer money that was due liquidators took the view that if they went to court they were not on solid ground and did deal to half transfer money due its in bdo report I have one

wull61

Read the report again Wull. The only money coming from transfers is from onward sales (the contingent debts). As for Jelavic, there is £75k due now, £37. 5k staged over the next 7 months and possibly another £75k if Hull retain their Premiership status next season and Jelavic is still there. The £975k is specifically excluded and is being retained by BDO.

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twopandaPosted on10:04 pm - Jun 27, 2014


Spivs enriched themselves by tens of millions
Guess what – planted rumours to stir the pot on 75k
Spivs continuing to enrich
Go Figure

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AuldheidPosted on10:44 pm - Jun 27, 2014


Allyjambo says:

June 27, 2014 at 9:06 pm

Presumably Anne Blunt (and Rod Petrie and other clubs Chairmen in the same division as TRFC) are following a policy of only spending what their clubs can afford from football earnings to buy and wage players?

Presumably they are submitting financial accounts to the SFA that can demonstrate that they are living within their means in order to tick the necessary licence boxes?

it would be a shame if those clubs competing with TRFC who are as desperate to get promotion as TRFC are were in some way disadvantaged beyond each clubs affordability parameters if one other club was living beyond them.

The information that clubs are asked to provide can be found at 8.11 and 8.12 at http://www.scottishfa.co.uk/resources/documents/ClubLicensing/2014/Prt%202%20Sct%208%20-%20Leg,%20Admin,%20Finance,Codes%20(2).pdf

Note that SFA have indicated they will publish informative figures regarding ratio of wages to turnover.

It is the sort of thing that if I were a Jambo or Hibee or supporter any club with promotion aspirations I would be demanding the SFA to publish just to make sure no club was operating outside their affordability parameters in a dash for promotion.

There are rules that whilst not as firm as UEFA FFP play nevertheless can be used as an indicator that there is fair play at play.

It is the kind of thing I would be asking the SFA’s position on should any club appear to be living beyond its current means to gain an advantage. 😉

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John ClarkPosted on10:49 pm - Jun 27, 2014


TSFM: my post of 26th June at 10.09 pm refers, with the support expressed by
Eddiegoldtop and Ianagain tonight at 9:16 pm and 9.35 pm respectively.

The blog has already been recognised by one lot of solicitors as being a representative body, to which some attention has quite properly to be paid.
May I , therefore, ( with my two ‘ seconders” , if they do not mind being so described) ‘move’
” that TSFM- the- Blog consider the desirability and feasibility of seeking Counsel’s opinion on whether the SFA failed to exercise its proper functions in the matter of the administration of its own Rules relating to the eligibility of players ( and so on), and wrongly allowed one of its constituent members( the SPL) to convene an ‘independent Tribunal ‘ to hear, among other things, a matter that did not fall within the competence of the SPL but fell wholly within the SFA’s own Administrative scope and proper powers,
and that TSFM-the-blog , if so minded, seek to cover the costs of obtaining such opinion by soliciting donations from readers and supporters of the Blog?
[ Obviously, Auldheid and some other knowledgeable people would be the ones to do the actual talking with solicitor/ QC, and would have to volunteer for that task, or at least, for the task of providing the briefing for whoever was to seek Counsel’s opinion.
I have little idea of what the cost of such an exercise might be- but some of our lawyer posters will know what the process is, and the rates that solicitors/Qcs charge for their time and expertise]
My very dear father-in-law used to say when asked to consider something, ‘ I’ll take it to avizandum’
I appreciate that you might wish to say the same, and come back later with a considered reply.And I can ask for no more.

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GoosyGoosyPosted on11:14 pm - Jun 27, 2014


The real question that hasn`t been asked throughout this saga isn`t whether RFC is dead or comatose or whether SFA has been corrupt for 20yrs or 100 yrs
Its this
Is the current football club business called TRFC one of the top ten money laundering opportunities in the UK?
If so
The “good” Spivs will be looking for a way out
And
Lots of dubious characters will be keen to get control of the business

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jean7brodiePosted on11:38 pm - Jun 27, 2014


John Clark says:
June 27, 2014 at 10:49 pm
________________________________
Count me in, I’ll contribute what I can.

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ianagainPosted on1:07 am - Jun 28, 2014


John Clark says:

June 27, 2014 at 10:49 pm

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0

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TSFM: my post of 26th June at 10.09 pm refers, with the support expressed by
Eddiegoldtop and Ianagain tonight at 9:16 pm and 9.35 pm respectively.

The blog has already been recognised by one lot of solicitors as being a representative body, to which some attention has quite properly to be paid.
May I , therefore, ( with my two ‘ seconders” , if they do not mind being so described) ‘move’
” that TSFM- the- Blog consider the desirability and feasibility of seeking Counsel’s opinion on whether the SFA failed to exercise its proper functions in the matter of the administration of its own Rules relating to the eligibility of players ( and so on), and wrongly allowed one of its constituent members( the SPL) to convene an ‘independent Tribunal ‘ to hear, among other things, a matter that did not fall within the competence of the SPL but fell wholly within the SFA’s own Administrative scope and proper powers,
and that TSFM-the-blog , if so minded, seek to cover the costs of obtaining such opinion by soliciting donations from readers and supporters of the Blog?
[ Obviously, Auldheid and some other knowledgeable people would be the ones to do the actual talking with solicitor/ QC, and would have to volunteer for that task, or at least, for the task of providing the briefing for whoever was to seek Counsel’s opinion.
I have little idea of what the cost of such an exercise might be- but some of our lawyer posters will know what the process is, and the rates that solicitors/Qcs charge for their time and expertise]
My very dear father-in-law used to say when asked to consider something, ‘ I’ll take it to avizandum’
I appreciate that you might wish to say the same, and come back later with a considered reply.And I can ask for no more.
=========================================================

As far as I,m concerned John yes you may, We need to discuss finance I think.

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Caveat EmptorPosted on1:33 am - Jun 28, 2014


Count me in as a willing contributor. A noble cause, well worth pursuing.
Also discussed recently, the laundrette scenario. I mentioned this in the pub a coupla months back and got the ‘he’s finally flipped, was only a matter of time’ looks. I’m not mental, ma mammy had me tested!

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Resin_lab_dogPosted on1:53 am - Jun 28, 2014


jean7brodie says:
June 27, 2014 at 11:38 pm

John Clark says:
June 27, 2014 at 10:49 pm
________________________________
Count me in, I’ll contribute what I can.

___________________________________

Appropriate use of funds.
Happy to pledge and contribute the equivalent cost of an SPL match attendance towards such a venture.

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AquinasPosted on1:57 am - Jun 28, 2014


Stop Campbell Ogilvie getting Uefa job!?!

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Resin_lab_dogPosted on2:01 am - Jun 28, 2014


GoosyGoosy says:
June 27, 2014 at 11:14 pm

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2

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The real question that hasn`t been asked…

___________________________________________

The way you put it, I’d almost be tempted to buy shares 😈
(admittedly only in a resigned ‘if you can’t beat ’em, might as well join ’em’ sense)

Oh what a tangled web indeed….

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StevieBCPosted on2:18 am - Jun 28, 2014


John Clark says: June 27, 2014 at 10:49 pm

May I…‘move’
” that TSFM- the- Blog consider the desirability and feasibility of seeking Counsel’s opinion on whether the SFA failed to exercise its proper functions in the matter of the administration of its own Rules…
========================================================================
Playing Devil’s Advocate JC: let’s speculate that Counsel’s opinion is aligned with the Bampots’ opinion?
What happens next?
Would the SMSM show any interest?
Would the SFA?
Would any senior club ?
Would any relevant, public body?
Agreed, that a legal, independent opinion could validate – or otherwise – what we all believe has happened wrt the SFA.
But would we be able to leverage – presumably not cheap – Counsel’s opinion ?
…and would there be any difficulty in even engaging said Counsel, [e.g. West of Scotland/Scotland ?]

To be clear: I do like your novel approach and thinking JC – it’s just how would we follow up ?

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Danish PastryPosted on7:27 am - Jun 28, 2014


GoosyGoosy says:
June 27, 2014 at 11:14 pm
18 2 Rate This

… Is the current football club business called TRFC one of the top ten money laundering opportunities in the UK?
———–

I heard a professional talk about this, although the business mentioned was more to the west of Glasgow.

If the point is to make black money white, at what point — and in what form — does it enter the steamie … er … club? Does it arrive by bus or taxi? And where and how does it emerge as clean, useable currency via a football club?

I suppose ultimately owning a club like TRFC would translate any readies into a form of ‘wealth’, but ownership brings responsibility and expenses. Before you know it you might be down on the deal. If the fans don’t keep pouring in the cash, and the SFA and SPFL run out of cash-for-hire events to stage at the stadium, then what?

Makes me wonder if Wallace used his 120 days for one-on-one chats with employees to agree confidential wage cuts by appealing to people’s better nature. He insists that there is no danger of administration and that things are on the up. Have the running costs been drastically reduced already? Or did Charles and the gang include some very small print in contracts viz-a-viz short-notice termination?

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oddjobPosted on9:17 am - Jun 28, 2014


Just noticed on SKY NEWS, ” Kris Boyd RE-SIGNS for Rangers”. The disease is spreading. May I suggest a barrage of suitably worded emails?

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essexbeancounterPosted on9:28 am - Jun 28, 2014


Danish Pastry says:
June 28, 2014 at 7:27 am
2 0 Rate This

GoosyGoosy says:
June 27, 2014 at 11:14 pm
18 2 Rate This

… Is the current football club business called TRFC one of the top ten money laundering opportunities in the UK?
———–

I heard a professional talk about this, although the business mentioned was more to the west of Glasgow.

If the point is to make black money white, at what point — and in what form — does it enter the steamie … er … club? Does it arrive by bus or taxi? And where and how does it emerge as clean, useable currency via a football club?
===========================================================
DP…some succinct analogies re “steamie/club, bus/taxi…”
I have been scraping the bottom of my intellectual barrel to try and envisage any “money laundering” routines and have failed dismally.
However, bearing in mind the ridiculous “regulatory” restrictions and requirements imposed upon me, as an individual and upon my firm by the the current “Money Laundering Regulations”, it would/should be assumed (?), that any such large scale money laundering actions from abroad would be highlighted, caught and prosecuted by the relevant UK authorities.
Typically, the so called legislation to empower such action is woefully inadequate, as have virtually all regulatory bodies involved in “The Rangers” omnishambles since it broke on day one…many moons ago!

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TSFMPosted on10:21 am - Jun 28, 2014


John C
I think I we would be happy to do what you ask. I have absolutely no idea of the cost of such a venture, nor whether or not it would be money wisely spent.
Campbellsmoney has been absent of late, but his input might be useful – as would the opinion of any other legal types.
Counsel’s opinion, whatever it turned out to be, would be the basis for a blog, or podcast where we could help to inform as wide an audience as possible. I will investigate further and keep you all in the loop.
I don’t want to solicit any contributions right now, but I will report back on the likely cost and viability.

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EKBhoyPosted on11:06 am - Jun 28, 2014


Re Money Laundering, why undertake illegal activities when you can get what you want legally?

It seems to me that Rangers are being run as described , they will loose money for 2 to 3 years supporting by various share issues and limp through to the Premier League , when they will come up with another share issue rouse for the fans , ‘Stop the 10’ share issue.

The original investors will have received full recompense via the IPO monies and coupled to whatever dodgy contracts are in place, they are doing all right, thank you very much. For the next share issue, there will always be greedy / mug punters available to buy shares with the promises of riches to follow , so you would expect more cash to flow the Ibrox way shortly.

As for internal costs, there have been various leaks in relation to non-playing staff being let go and presumably replaced by contractors (with a cut going to directors /investors) and we simply don’t know what the Rangers management team have already done to the escalating playing contractors. I would find it incredible , that given the chicanery and peepil involved at Ibrox that they are going to sit back and let a few average professional footballers hold the clubs to ransom.

Remember , this is the club whose manager (Big Eck ) publicly harangued players , e.g. Capucho and hounded the guy out the country. If Rangers want Black, Shields and Templeton to take less money then I believe they will be persuaded by the argument that they will never kick another ball for the club , named blackened in the press, false allegations of a carve up with Charles Green, and that they would make sure it would be very difficult to ever play for another Scottish club. Take Ian Black, his gambling exploits provided Rangers with the perfect opportunity to re-negotiate his contract – I suspect that this has happened.

Rangers will do everything they can , to avoid any embarrassments on the football field, hence the short termism with miller, Boyd and McCullough, they will essentially play a bunch of bruisers to brush past the opposition in the lower leagues …. which I am expecting to happen next season.

Easdales get free marketing and PR , good seats in restaurants, and favourable business dealings on the basis of their new connections, so they are on a winner too.

Rangers will only run out of cash if:
– The share issue flops
– They start to lose games and the pay on the day crowd flops
– There has been further extra curricula activity to remove season ticket monies and new share money

Limp through strategy on course but tightrope act to see it through.

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TSFMPosted on11:10 am - Jun 28, 2014


On other matters which have been discussed of late, I think it is now beyond doubt that someone somewhere is putting cash into TRFC. It seems inconceivable that a company which urgently needed a million and a half quid weeks before ST renewals were announced would be in a situation where the burn rate had slowed to zero, thus requiring no cash top-up.

Subsequent ST renewal money is already £1.5m light due to the loan. Whilst helping with immediate cash flow, that could not justify the recent player acquisitions (which are absolutely necessary to ensure promotion in a league which is more competitive than they could ever have feared), especially given that the quest to recoup some cash by unloading already overpaid players will likely prove fruitless.

It seems certain, and a ‘Chic Young’ confirmatory nod has been dispensed in our direction, that cash has been made available by interests who are violently opposed to the scuttling of the ship.
We are trying to find out more info on whether or not the input transactions(which would inevitably show up as loans) will be visible to shareholders.

I am fairly certain that any shareholder request to open the books would be problematic for the TRFC board.

We can certainly be sure of one thing. TRFC is not running on air, or credit from a bank. They MUST be getting money from somewhere. I suspect that the silence is due to what measures they will be forced to take to pay it back.

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DutchmulPosted on11:11 am - Jun 28, 2014


Hi All

Just been catching up on the latest posts and the latest developments in the rangers saga.

My take on the situation is that there is “some” effort being made to cut costs but wallace etc have their hands tied by the contracts in place(both player and onerous service contracts). But adding 2 players to the payroll whose combined wages could amount to circa 250k whilst not really reducing the player payroll doesn’t look like they are serious, however, due to the WATP attitude of supporters, they have to make signings or no money from fans, a catch 22.

Some of the shareholders look like they have been sold a pup(it happens, the value of investments are not guaranteed) whilst others have benefited from being on the “inside” from the start.

Phil’s information has been excellent at shining a torch on the shenanigans going on, it has helped us understand why certain things have happened.

What will be the outcome of all this?

Personally, I think some sort of football team will continue playing at ibrox, probably owned by “rangers men” but they will be financially crippled. The only time rangers get big crowds is if they do well or they are in full on siege mode as they have been these last 2 years, when they start to struggle on the pitch(which they will given their financial problems), crowds will plummet(remember the early eighties) and it is then that I think the club will be hived off from the parent company and sold to the brogues.

Everything that is going on just now points to that for me, limp on to get to the SPL(hence the signings and lack of player cutting) and then sell when they can “challenge” celtic. Probably hive off the property to the parent company(unless they get an offer they can’t refuse) and sell the “club” to the rangers men with water tight contracts re stadium rental, service contracts etc.

Their big problem is if they don’t get promotion to the spl, then they are in big trouble.

There really isn’t any other way I can see for the non football supporting shareholders to make more money out of this.

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Hoopy 7Posted on11:18 am - Jun 28, 2014


Good Morning
Great idea to get counsel’s opinion however a few words of caution.
Sometimes you pay a lot of money only to find out what you knew anyway.

Counsel have a tendancy to charge like a wounded buffalo., they do not come cheap for a top player who knows what he is doing. it is not unusual to find that they will give you an opinion telling you that are spot on with regards to the wrongdoing but that you are not the one who can do anything about it because you have no capacity to sue.
I won’t bore you will all the latin terms but if counsels’s opinion is to be sought it should first deal with the proposition as to whether or not TSFM has the capacity in the first place before wasting time and money on whether rules have been broken.
It is unbdoubted that rules have been broken/ignored.
Who can do something about it is the most important question in my opinion.

If not TSFM then perhaps a club or a sponsor. Who will be willing to stick their head above the parapet?

I will support anything going forward.

There is something we are all missing with regards to TRFC. The CEO wanted a wage cut, austerity is needed but they seem to be adding to the wage bill.
Where is the money coming from.
I note that some kids with a promising future who were hailed as the next best thing have been let go. Is that how they are financing the signing of players who are surely pasdt their best?

As for the original money and who is behind Blue Pitch etc the beancounters will be able to follow the money and eventually answers will come out.

I cannot see a share issue being successful if there is to be any qualification in the accounts.

Irrespective of the outcome of any approach to counsel TSFM must keep pressing forward. The spivs place a lot of store in battle fatigue and hope that we will all get fed up. Don’t let them off the hook.

Just to finish there is no doubt that the people who can do something about what has and is going on at the SFA are the very clubs who are members. Why are they sitting on their hands when the tools to clean up by way of EGM and voting to get rid of the present incumbants cold be easily achieved?

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oddjobPosted on11:42 am - Jun 28, 2014


TSFM says

June 28 2014 @ 11.10 am

I am sure HMRC would be very interested to know of any gifts or unearned income, and will be keeping a watchful eye on that, as well as the “approximate” numbers of season ticket sales.

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Cluster OnePosted on11:48 am - Jun 28, 2014


I see they found Asbestos near the commonwealth village on the banks of the Clyde in Dalmarnock, the site needs to be fully sealed off and then the process starts of sifting through rubble to find more of the material. They better not sift to much, you never know what they may find just weeks before the games kick off. Don’t know if this may have something to do with the land issues. ❓

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John ClarkPosted on12:07 pm - Jun 28, 2014


TSFM says:
June 28, 2014 at 10:21 am
‘John C
I think I we would be happy to do what you ask..’
———–
I appreciate that, TSFM.
As others have mentioned, seeking legal opinion is expensive, and might not advance matters.But even to know for sure that the SFA had possibly acted in a way that was legally questionable (as well as being utterly morally repugnant) would be further grist to our mill.
(Of course, they would remain undoubtedly as morally guilty of a ‘football’ offence as any Suarez, even if a legal challenge could not seriously or successfully mounted by us).

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whispererPosted on12:21 pm - Jun 28, 2014


Non televised game in govan with low attendance … Allows for busload of readies to be banked … And no doubt paid out to the onerous ones … Cleansed … Msm chums keep attendance figure out the paper … Simple really … Aye / Naw ?
Pretty sure SE made some interesting friendships in HMP … Financial kinda blokes … Aye / Naw ?
An a doubt it would be difficult for him n his bruv to renegotiate terms wi flimsy wee boys on the qt … Aye / Naw ?

Just thinking out loud !

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AllyjamboPosted on12:28 pm - Jun 28, 2014


TSFM says:
June 28, 2014 at 11:10 am

I agree that what you say seems the most likely answer to where the money’s coming from, but can they keep such ‘loans’ secret from AIM? I’m certain, in the normal course of normal companies, a rise in the apparent ability to trade must be seen as price sensitive, and so any significant inward cash streams would surely have to be disclosed. This could also be seen as necessary to stop, what many here have alluded to, money laundering. If they weren’t duty bound to announce significant loans, especially directors’ loans, why did they make public the details of the loans from the Easdales and Laxeys? If they’d kept that secret Laxeys would be in for a nice healthy profit from the deal, and the Easdales could feel much more comfortable about taking their money back.

To me, if I am in anyway correct re AIM requirements, in the absence of any underhand deals, then they are repeating the Murray method of buy now, don’t pay later; or at least get someone else (share issue) to pay later.

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upthehoopsPosted on12:47 pm - Jun 28, 2014


Off topic or not? There was another ‘audience with Graham Souness’ evening in the Louden Tavern last night, at £30 a skull. I wonder what on earth Mr Souness speaks about and how much he plays to the audience. I am sure no-one would want to just re-live the now well known tales of how Souness arrived at Ibrox and the signing of Mo Johnston etc. I am sure people will want something a little more meaty than that! Of course Souness is no dummy and will simply offer an opinion on certain matters. The trouble is that opinion will no doubt be accepted as fact by the hard of thinking!

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AquinasPosted on1:03 pm - Jun 28, 2014


Cluster1, land and contamination is ‘my bag’, obviously not yours, you are wasting your time.
Asbestos by the way is fine, its when you start smashing it up gives you problems.
The Historian at The Rangers (if he tuped over) taught me loads on the subject, he’s a good guy

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TSFMPosted on1:10 pm - Jun 28, 2014


Hoopy7
TSFM certainly doesn’t have any locus to sue. I think that, as others have said, the value of such a move would be the confidence and credibility we would gain from having counsel back up our viewpoint – or the credibility and humility we would have thrust on us if counsel contradicts our consensus and we publish that regardless 🙂
It would also be good to direct counsel not to simply advise in accordance with our own preconceptions.

AJ
I don’t know the disclosure requirements for AIM, but one thing we have learned from this situation, is that AIM are about as effective a constraint to poor practice as a chocolate teapot, and as vigilant a watchdog as a dead sloth.
My suspicion is that a line of credit has been obtained in return for the deeds of Murray Park.
The money changing hands here is not Murray-esque, so although the ‘buy now-pay later’ ethos may be alive and well, the degree is less severe than in the past.

Looking forward, even the sums talked about in any rights issue or subsequent shares issue (moonbeams or otherwise) are modest in relation to the ambition. As an optimist, I suspect that Rangers fans are beginning to wake up to that.

If so it may be that some of the fan groups will start to resist the Murray/Green moonbeams approach and try to instil a greater sense of realistic expectation amongst the Bears. I certainly hope that is the case, because it will be a significant and welcome development for their club, and the start of what will hopefully be a reconciliation across the whole spectrum of the Scottish game.

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AllyjamboPosted on2:21 pm - Jun 28, 2014


TSFM says:
June 28, 2014 at 1:10 pm

Well aware, as we all are, that a club from Govan will always be able to take advantage of lax regulators, I still wonder, if Wallace and co are prepared to go down the ‘non-disclosure’ route, why didn’t they take that route with the Easdale/Laxeys loans? If you are correct, it is a clear sign that things are getting ever more desperate in a scenario that gets further and further away from the possibility that anyone might make a legitimate profit. What’s more, any such borrowings, or gifts (whether allowable within football regulations, or not) will have to be detailed in the prospectus for the rights issue, and also for any further share issue. There has to come a point where non-disclosure breaks more than mere regulations and begins to flirt with the law (I’m sure a prospectus is a legal document), though I’m sure there are many players in the Ibrox tragedy that view ‘getting away with it’ as the equivalent of honesty!

I still think they are proceeding, with at least a nod to honesty, on the assumption that all their plans will come together to produce, at least, a break even scenario, but they have to spend (or sign ‘heroes’) up front to encourage ST sales, while putting off austerity until the last possible moment (which might not be all that long) so as not to discourage ST sales. A sort of ‘signing spree = ST sales: austerity + ST sales = share sales’ plan in which all three components, ST sales, rights issue and share issue, have to reach an optimum level for the club to continue. If it falls short then the spivs still have some lee-way, created by whatever cash is produced, to leech as much as possible before administration/liquidation hits.

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EddiegoldtopPosted on2:24 pm - Jun 28, 2014


A not so polite comment from Corsica1968(Alzipratu) on twitter;

@corsica1968: Lot of people jumping guns & bumping gums. QC already approached at request of few bampots. Matters in hand but on hold for now #Res12

And;
@corsica1968: Prelim fee estimate for QC is £20k and it will take time…possibly years. #patience

Maybe Auldheid could expand on this in and undoubtedly in a more polite and positive manner.

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Corrupt officialPosted on2:53 pm - Jun 28, 2014


For those of you that have been following eco and the state aid debate, he is doing a fine job over on continuingrandomthoughts engaging with some of the “campaigners”.

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nickmcguinnessPosted on3:24 pm - Jun 28, 2014


TSFM June 28, 2014 at 11:10am:

To get a clue to what’s going on at RIFC we need to look at previous behaviour.
The £5.5m purchase price paid by Sevco Scotland (or perhaps Sevco 5088 . . . perhaps!) was raised in advance with the promise of shares to come, extra “free” shares in the IPO and, perhaps, a cut of the “onerous contracts” that continue to siphon cash out of the company at an alarming rate.
So perhaps the cash to keep the lights on has already been provided up front in return for shares that will be belatedly be reported to AIM, then more “free” shares when a subsequent share issue to all and sundry is announced in August – after the Board and their pals breach the 75% barrier needed to approve this.
All with the hope of one last pay day courtesy of those daft enough to part with their hard cash for more season tickets, Broxy burgers and shares in a terminally ill enterprise. All the bloodsuckers need is for the host body to be kept alive for a few months more with defiant words and the aimless hiring of well-past-their-best “big names”.
It pays to remember that many of the controlling shareholders (and it’s the same ones who were there at the start – they’re not going anywhere while there’s free cash still on offer) purchased their control of the Ibrox swag bag with cash that had been resting in anonymous accounts in far-off tax havens. No one asked how it got there or what tax was paid to get it there.
To me, this scenario may have presented an opportunity for businessmen to legitimise sums of cash of questionable provenance.
Say, for instance (and please bear in mind that these are purely hypothetical musings), that I had large amounts of banknotes that I did not want to report to the taxman.
If I could somehow get them out of the country (perhaps via a financial services company that specialised in that sort of thing) I could dump them into an “investment trust” in a tax haven with a nominee director and no traceable link to myself.
I could then use that trust to buy shares in a “cash cow” company close to home and establish a controlling interest. And with that control I could ensure that my investment reaped handsome dividends in the form of highly profitable contracts, large payments for minimal services and other inventive methods.
And as long as mugs continued to pour clean cash into that cow, the party could go on. And on.
The tipping point would come if the cow ever required more of my cash to keep it alive than I could possibly milk out of it at the other end.
In that case, I would gather up my profits and move on. And allow the cow to die.
As regards Rangers International Football Club Ltd, it appears there is still a bit of milk left. But not much.

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neepheidPosted on3:33 pm - Jun 28, 2014


http://www.economist.com/news/international/21581724-football-clubs-can-easily-be-used-stealing-machines-here-instruction-manual

This is a link to an Economist article which seems relevant to the debate on money laundering. Apologies if it has been posted previously.

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scottcPosted on3:48 pm - Jun 28, 2014


ianagain says:
June 27, 2014 at 9:47 pm

Here’s where Boyd’s 100k is coming from don’t know how the rest works:

From RR

Read the report again Wull. The only money coming from transfers is from onward sales (the contingent debts). As for Jelavic, there is £75k due now, £37. 5k staged over the next 7 months and possibly another £75k if Hull retain their Premiership status next season and Jelavic is still there. The £975k is specifically excluded and is being retained by BDO.

twopanda says:
June 27, 2014 at 10:04 pm

Spivs enriched themselves by tens of millions
Guess what – planted rumours to stir the pot on 75k
Spivs continuing to enrich
Go Figure

The 75k is from the Jelavic transfer fee. It is detailed in the BDO report just published. The 37.5k is staged over, I think, 5 payments. I’m not sure if it is tied to appearances or what.

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Arabest2Posted on4:21 pm - Jun 28, 2014


Cluster One says:
June 28, 2014 at 11:48 am
1 4 Rate This

I see they found Asbestos near the commonwealth village on the banks of the Clyde in Dalmarnock, the site needs to be fully sealed off and then the process starts of sifting through rubble to find more of the material. They better not sift to much, you never know what they may find just weeks before the games kick off. Don’t know if this may have something to do with the land issues.
————————;———————

Probably off topic……but none the less an Interesting question Cluster 1, and I’m confused as to why it is instantly given a number of TDs. During the competion of the M77 extension across the south side of Glasgow I remember a number of erudite articles discussing the purchasing (often compulsory) of land to complete the work. Many of the tracts of land were toxic as they weaved their way through the many brown-field sites of Glasgow’s industrial past. Reading Echobhoy’s sterling work on the land deals in the East End I sensed they had a similar flavour…..Brown-field sites of limited commercial value due to undetermined levels of toxicity. (But I may be overstating this as I have not read them too closely) Could this be the ‘Glasgow factor’ that all too, occasionally merits mention by sociologists and epidemiologists regarding health outcomes, or rather ill health outcomes, and staggering stats on mortality rates that afflict the expanse of the old Greater Glasgow territory? Statistics, that are considerably worse than other areas with comparable levels of depravation, and are all to readily dismissed with more than a hint of right wing moral indignation, and put down to deep fried mars bars and Buckfast wine. I can well understand why such issues would remain closely guarded state secrets.

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justbecauseyoureparanoidPosted on5:01 pm - Jun 28, 2014


Genuine questions (with due apologies for not keeping up to speed)
Can anyone advise timescales for info on
a) UTT
b) resolution 12

Many thanks
Desperate to see justice done!

View Comment

AuldheidPosted on5:35 pm - Jun 28, 2014


Just because you are paranoid

Res 12. There should be something meaningful to report back by end July..

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BarcabhoyPosted on5:56 pm - Jun 28, 2014


If Boyd and Miller are being paid a combined £250 k, then the savings from the players released at the end of the season will probably cover this. I think there were 4 or 5, but for definite Little , Hegarty and Perry.

If those 3 alone were on an average of £80 k a year each, which isn’t implausible, then that pays for Miller & Boyd. I suspect McGregor would be on a very low salary, maybe even pay as you play.

There is plenty of opportunity to sign players more than capable for the championship without paying the lunatic wages offered to Black, Daly and Cribari.

Wallace has probably completely removed McCoist from the process of deciding what players are paid. Very wise too.

It seems to me the infrastructure and legacy costs of running a club which attracts 40,000 + with an extravagant training centre , means that a loss is inevitable. Selling Auchenhowie is the right thing to do, but that will take many many months, possibly years to achieve, and thats without the complication of onerous contracts.

Therefore any share money raised will be exclusively for working capital. It also probably explains the SFA and SPFL’s extreme reluctance to introduce any form of financial fair play. Ogilvie Regan and Doncaster will be well aware Rangers are likely to post large losses for at least the next 2 years.

Financial fair play should have been introduced as a matter of urgency in Scotland. There was no excuse not to have implemented this in time for season 2012/13. However either incompetence or a reluctance to impede Rangers return up the leagues has left us with the farcical situation , where a league where major clubs have suffered insolvency events , doesn’t even offer outline guidance on what is acceptable financially.

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Danish PastryPosted on6:36 pm - Jun 28, 2014


The Blue Knights … again, again?

http://www.bbc.com/sport/0/football/28071904

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AuldheidPosted on7:32 pm - Jun 28, 2014


Barcabhoy

It seems fair play is for mugs like Hearts, Hibs, Falkirk and of course Celtic whom I am convinced were denied it in June 2011.

Fair play appears to be a concept TRFC are incapable of grasping.

I am surprised other clubs have not made the point or do they really settled for 3rd place or worse?

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AuldheidPosted on7:32 pm - Jun 28, 2014


Barcabhoy

It seems fair play is for mugs like Hearts, Hibs, Falkirk and of course Celtic whom I am convinced were denied it in June 2011.

Fair play appears to be a concept TRFC are incapable of grasping.

I am surprised other clubs have not made the point or do they really settled for 3rd place or worse?

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Danish PastryPosted on7:43 pm - Jun 28, 2014


Auldheid says:
June 28, 2014 at 7:32 pm
0 0 Rate This

Barcabhoy

It seems fair play is for mugs like Hearts, Hibs, Falkirk and of course Celtic whom I am convinced were denied it in June 2011.

Fair play appears to be a concept TRFC are incapable of grasping.

I am surprised other clubs have not made the point or do they really settled for 3rd place or worse?
———-

Auldheid, I thought a chairman actually spoke out about FFP recently. Lower league club I believe so of little relevance to the SFA, unless said club makes a harmless mistake on an official form — then all hell breaks loose!

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ianagainPosted on8:22 pm - Jun 28, 2014


Danish Pastry says:

June 28, 2014 at 6:36 pm

1

1

Rate This

The Blue Knights … again, again?

http://www.bbc.com/sport/0/football/28071904
=======================================
Aw gawd another bunch of knights, just what they need right now. This drivel has come up because Chico took Souness to his wee souside club after suffering the hordes at the Louden Tavern and spouted forth over some v expensive malts late at night. Right Chic ? I’m taking your crayons away if you don’t behave son.

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AuldheidPosted on8:46 pm - Jun 28, 2014


Danish Pastry

It was the Ayr United Chairman. It is a debate whose time has come.I was saying it was needed three years ago.

http://celticunderground.net/sfa-reform-one-down-three-to-go/

Three years on and nothing learned.Nada. Zilch. Zero.

Scottish football – the land financial management t forgot.

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neepheidPosted on9:08 pm - Jun 28, 2014


So Brian Kennedy, who could have bought the whole show for £5 million 2 years ago, is now proposing to pay off the current owners, who will no doubt want at least £20m? Sounds like off the radar nonsense to me.

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FairBairnPosted on9:28 pm - Jun 28, 2014


Arabest2 says:
June 28, 2014 at 4:21 pm
Apologies for OT
Relating to Arabest2’s post, in the early 80’s I was visiting the Dalmarnock power station site to maintain machinery which was being used to dismantle the site buildings and equipment. During a heavy downpour we ran into a building which still had a roof and I found that I was paddling about in mercury. I suppose it ended up in the ground along with anything else which nobody bothered about. I also maintained machinery in a leatherworks across the river from Shawfield Stadium. The mixtures, including chromate (AFAIK) for tanning the leather was dumped into the Clyde through an ancient drain system.
It seems to me to be a dodgy place for people to live if the ground hasn’t been properly treated.

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Resin_lab_dogPosted on10:21 pm - Jun 28, 2014


ianagain says:
June 28, 2014 at 8:22 pm

10

0

Rate This

Danish Pastry says:

June 28, 2014 at 6:36 pm

1

1

Rate This

The Blue Knights … again, again?

http://www.bbc.com/sport/0/football/28071904
=======================================
Aw gawd another bunch of knights, just what they need right now. This drivel has come up because Chico took Souness to his wee souside club after suffering the hordes at the Louden Tavern and spouted forth over some v expensive malts late at night. Right Chic ? I’m taking your crayons away if you don’t behave son.

___________________________________________________

Every day is groundhog day on Edmiston drive!
… yawn!

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James DolemanPosted on10:31 pm - Jun 28, 2014


Corrupt official says:
June 28, 2014 at 2:53 pm

Had a look but cannot find the pieces you refer to, any chance of a link?

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Cluster OnePosted on10:39 pm - Jun 28, 2014


Aquinas says:

June 28, 2014 at 1:03 pm
Cluster1, land and contamination is ‘my bag’, obviously not yours,
(I never said it was “My Bag”)
Asbestos by the way is fine, its when you start smashing it up gives you problems.

(So no need for the site to be fully sealed off then ?
You had better tell the experts that , as you say it’s not my bag)

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justshateredPosted on10:41 pm - Jun 28, 2014


Briefly listened to the radio tonight and almost crashed the car when I heard that Graeme Souness could be part of a consortium to buy ‘The Rangers’.
Was this the same Souness who left in 2001 to all the media in Scotland, not to mention the fans, stating “he was never one of us anyway”?
And yet here he is being flaunted as the next saviour.

How much more ridiculous can this saga become!
People who could have bought the whole shop for £7M two years ago are now going to spend £20M to buy it!
What makes this even more laughable is that we are being told that these are ‘serious business men’. Well forgive me but what ‘serious business man’ would spend £20M on something they could have bought two years ago for a third of the price?
I mean Ibrox and the training facilities aren’t a Banksy or a Van Gogh that rise in value when left untouched for three or more years!
Anyone who has been near both of these facilities say that they are in a bad state of repair, so after outlaying the purchase price, these properties will have to be brought up to scratch.
Meanwhile the level of debt owed by the club to RIFC continues to rise.

If the ‘serious business men’ do get their hands on the prize I fear some will be in for a shock; no endless credit from a bank no they will have to spend their own money………… shudder…………. “our own money. But we’re the real Rangers men!” I hear them cry.
“Tough Gavin Masterton is no longer in town and giving dosh to his mates” is the quick response.

This is like some bizarre episode of ‘Fantasy Island’ where a group of individuals want to role back the clock to their glory years and scatter cash as if there is no tomorrow. Unfortunately for the club there was no tomorrow.
The problem there is that the guests had to pay handsomely for the privilege of visiting the island in the first place to live out their fantasy.

Still the good news stories must be required for some reason.
Since Mr Wallace announced that ticket prices would have to increase and be sold in the same numbers as last year to keep the club in relatively good shape (no laughing at the back) they have sold half the required figure and yet according to the same man the club is in ‘good shape’.
How can that be?
Is Mr Nash found a gold mine under the park?
I don’t think so. No the figures still do not add up.
The new shares will have to be issued quickly to stave off an immediate cash crisis and a new share issue, although heaven knows who will buy them, will have to follow hard on its heels to keep ‘The Rangers’ going to the seasons end.
Next year, with the current running costs, another tranche of cash will have to be raised although it will not be as much as this years but this will be the on going scenario. Year after year before a player is even bought or higher wages are paid.
How much longer this farce can continue is anybody’s guess.
I’ve never witnessed so many ‘serious business men’ so easily parted from their cash.

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Danish PastryPosted on10:56 pm - Jun 28, 2014


Auldheid says:
June 28, 2014 at 8:46 pm
8 0 Rate This

Danish Pastry

It was the Ayr United Chairman. It is a debate whose time has come.I was saying it was needed three years ago.

http://celticunderground.net/sfa-reform-one-down-three-to-go/

Three years on and nothing learned.Nada. Zilch. Zero.

Scottish football – the land financial management t forgot.
————

You wrote that 3 years ago? Got to say you’ve been on the case long-term. Bravo. I hope Celtic as a club push the CL issue all the way.

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John ClarkPosted on11:04 pm - Jun 28, 2014


justbecauseyoureparanoid says:
June 28, 2014 at 5:01 pm
‘….Can anyone advise timescales for info on
a) UTT…’
————-
Only the good Lord( Doherty, that is!) can answer that one, I’m afraid.
Mind you, the boys on Sportsound this afternoon were all so, so excited about yet another ‘saviour’ heaving into sight ( Craig Paterson earnestly waxing eloquent about how the fans sooo trust the man who received an EBT from his former club while serving as manager of another club for which he was buying personnel from his former club, and how wonderful it would be if that EBT recipient took a role as the ‘saviour’s’ backer).
Such , indeed,was the excited chatter that one might have been tempted to believe that the UTTT had delivered a verdict in favour of HMRC, and that some kind of diversionary smoke-screen [ and certain people at Radio Scotland specialise in providing smoke-screens, for convicted fraudsters, for example] might have been called for.
But, of course, one understands that the procedure allows only for a couple of hours notice to the parties’ legal teams before a ‘verdict’ in these matters is made public. Or so I at least understand.
The public must patiently wait on his Lordship’s good pleasure.

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Danish PastryPosted on11:10 pm - Jun 28, 2014


justshatered says:
June 28, 2014 at 10:41 pm
3 0 Rate This

Briefly listened to the radio tonight and almost crashed the car when I heard that Graeme Souness could be part of a consortium to buy ‘The Rangers’ …
———

I came in about 15 minutes into Sportsound briefly and heard the tail end of the Souness & Kennedy stuff, which made me think it was a re-run of an old show. It is the off-season, after all. But checking Sportsound content for today it turned out that the pundits had not stepped out of Dr Brown’s DeLorean, but were, in fact, in the present.

Ripples in the space-time continuum? 😀

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Corrupt officialPosted on11:26 pm - Jun 28, 2014


James Doleman.
Hi James
Here is a link mate. You will need to do a bit of scrolling
http://continuingrandomthoughts.wordpress.com/2014/06/18/independence-for-scotland-a-guest-post-by-fra-2/comment-page-4/#comments

View Comment

pau1mart1nPosted on11:35 pm - Jun 28, 2014


neepheid says:
So Brian Kennedy, who could have bought the whole show for £5 million 2 years ago, is now proposing to pay off the current owners, who will no doubt want at least £20m? Sounds like off the radar nonsense to me.

aw naw, the quantums gone up !!

View Comment

upthehoopsPosted on11:39 pm - Jun 28, 2014


Danish Pastry says:
June 28, 2014 at 11:10 pm

Unsure where to go with this, and I did post earlier re the fact that Souness was appearing at the Louden Tavern. A couple of people who I’ve known and trusted (Rangers fans) for many years were at the said Souness event. They told me Souness most certainly did not play to the galleries and sometimes gave frank opinions, which not everyone agreed with. I wasn’t there so I don’t know.

Anyway. Happy days! Nice family Sunday to come followed by work on Monday!

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John ClarkPosted on11:57 pm - Jun 28, 2014


Chile out? I need to chill out, and revise my opinion of Rachel’s qualities as a mathematician! ( Had she factored in the penalty shoot-out scenario?) Great game, though, which either team could have won on the footballing merits.
But enough about football!
I was prompted to re-read the 2012 bumph about bidders-Bill Miller, Blue Knights and sundry others.
And I am more convinced than ever that certain relatively low- level clerical, administrative kind of staff employed by big name people in the insolvency business must have the qualifications to join Ally Bain as first class fiddlers.
To switch metaphors, such a deal was done that the cards were stacked against anyone who did not have big, cash-scooping Yorkshire hands.
Oh, to be a clerk in the greenwoods whitehouse!
And, oh, how honest millers and knights errant and eastern potentates and South African convicted persons must have gnashed their teeth in rage and disappointment at being outsmarted in the dirty art of financial conmanship by little tykes and horse-loving chateau-owning ( two fingers to you all, suckers!) school-boy champion sprinters!
Will it all end in tears and prison sentences?
I’d like to think so- but, of course, only if there is a fair trial!

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StevieBCPosted on12:47 am - Jun 29, 2014


RESIN_LAB_DOG says: June 28, 2014 at 10:21 pm
The Blue Knights … again, again?…
Every day is groundhog day on Edmiston drive! … yawn!
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RESIN_LAB_DOG says: June 28, 2014 at 10:21 pm
The Blue Knights … again, again?…
Every day is groundhog day on Edmiston drive! … yawn!
================================================
Had to be done… 😉

(And Colombia will eliminate Brazil, IMO.)

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AquinasPosted on1:29 am - Jun 29, 2014


I’m going to reopen a Woolworths tomorrow, I’m looking for partners to form a chain.
Any takers?
Also considering a Tie Rack, Blockbuster, Barratts, HMV, Comet and Ortak.

Dead easy, anyone want to share in this windfall opportunity?
The HMRC are cool with this blatant use of dead firm trading without paying historical taxes.

So the word is, don’t pay any tax, then every couple of years ‘come out of liquidation’ and rename your company the same as the dead company.

Make me an offer to partner any of the above dead companies, why not!
Remember paying taxes is for little people!

Let the soldiers buy their own bullet proof vests, etc. Taxes Are For Diddies!!

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AquinasPosted on1:43 am - Jun 29, 2014


Cluster 1, fully sealed off? Do you mean closed to the public while a contractor is employed? As is standard in every construction site? What do you think has been found? WW2 bombs! EBT side letters? RFC Tax Money?
Fully Sealed Off? …..a bit of red tape?
SBJ.

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AquinasPosted on1:55 am - Jun 29, 2014


cluster1, if you must inform yourself by reading ‘news’ from the Daily Record at least read all the article,
A spokeswoman for Glasgow City Council said: “We thank Mr Clark and the Daily Record for bringing it to our attention and we have arranged for collection and disposal by a licensed contractor.”…. The end.
Mr Clark being non too happy that The Albion Car a Park isn’t worth £28m.
Next? Bring on your ‘land issues’ at Celtic Park, I’m bored.

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Danish PastryPosted on8:02 am - Jun 29, 2014


ianagain says:
June 28, 2014 at 8:22 pm
24 0 Rate This

Aw gawd another bunch of knights, just what they need right now. This drivel has come up because Chico took Souness to his wee souside club after suffering the hordes at the Louden Tavern and spouted forth over some v expensive malts late at night. Right Chic ? I’m taking your crayons away if you don’t behave son.
————

That does seem to be the garbled source of this stuff. No Sportsound from yesterday available yet. On the article, I think Mr Young has turned ‘one feather into five chickens’, as the Danes say. And as for the ‘We’ll work for nothing” from Souness and Smith, there has been ample opportunity for that. They could always return their EBTs via BDO as a token of their good faith and to show their regret about spending RFC to oblivion.

Oh, is that a flock of pigs flying overhead?

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TartanwulverPosted on8:51 am - Jun 29, 2014


Danish Pastry says:
June 28, 2014 at 6:36 pm

http://www.bbc.com/sport/0/football/2807190
———————————
Two things occur to me:
1. Is someone using a ‘journalist’ to send a message to Ally that real Rangers men would do a job for nothing if it came to it, and
2. Didn’t Souness take a payment from the ex-Rangers by way of an EBT when he wasn’t even employed by them?

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