Naming the Rose

ByTrisidium

Naming the Rose

We spend an inordinate amount of time on this blog arguing about what the re-emergent Rangers should be called. It is a rather circular debate with no way of finding any consensus. The dispute between Rangers (“The Rangerists”) or The Rangers or Sevco (“The Sevconians”) and its claim to be the club that was formed in the 19th century is spurious. Whichever way you look at it, the continuity of the “brand” is undeniable and as long those who wish to keep buying that package are satisfied that the wrapping is authentic – where’s the harm?

The red herring in the argument is that “history” is important. To the average football fan, it is nothing of the kind. As a Celtic fan myself, and a bit of a student of the history of the club, I am constantly dismayed by the Thousand Yard Stare I get from your average Celtic fan who is confronted with the names of people who contributed significantly to the club’s identity. Key figures like Sandy McMahon, Jimmy Delaney, Jimmy McGrory and (God help us) John Thomson rarely elicit recognition.

Modern football fans who live in the instant gratification society of the the WWW and mobile communications may pay lip service to their clubs’ history, but that’s not what gives the modern football fan wears as his badge of honour. That is a commodity often erroneously confused with history – the bragging rights associated with the trophy haul.

The ability to claim that “we have more titles than you” is far more valuable to a supporter than which 19th century attacking centre-back won the Scottish Cup with a last minute header; and the value of said cup wins is heavily weighted in favour of the most recent (save for the honourable exception of the European successes).

The maintenance of that illusion of superiority is crucial if Rangers fans are to believe that their club is still Rangers. Perhaps in time they may even come to fully believe it themselves, but the cataract of column inches devoted to propagating that myth, both from the MSM and from information outlets controlled by Charles Green’s organisation, betrays a lack of total belief by the chief Bear-existentialists. Protesting too much may not be subtle, but that never put off your average fitba’ man either.

The upshot though is this. There is a belief – or at least a hope – amongst Rangerists that the continuity argument holds. They will call the new club Rangers. Fans of other clubs who make up the vast majority of the Sevconian tendency, believe nothing of the kind. They will call it something else.

Many will remind Rangerists that the old club died, and this is factually correct (or at least will be very soon). Rangerists will counter that the Rangers ethos lives on at Ibrox, and despite the worrying overtones (for some) contained in that statement, that is also factually correct.

Rangerists will also point out, as Rangers fans on this blog already have, that the SPL bent over backwards to assist the continuity of the club in order to minimise the financial consequences for Scottish football, and that the SFL too, have agreed that they are the same club.

Why? Simply because Scottish Football thinks it needs to help perpetrate they illusion of continuity to avoid the loss of thousands of paying customers to the game altogether.

So round one has gone to the Rangerists, with the Sevconians pretty much taking an eight-count.

So is the name thing important? I don’t think it is of critical importance. The name in itself doesn’t matter, but to merely agree that everything is as before is to join forces with the MSM, SFA & SPL who have sought to give RFC and their tax theft a pass.

Whatever happens in the future though, the illusion hasn’t worked completely. The Sevconians’ wish to call the new club by a different name was for the purpose of making it synonymous with tax evasion, however the name Rangers now evokes exactly that response. There is now a discernible pause when people mention Rangers. A pause that reflects on the dis-service they did to the country, and to the game of football in Scotland.

Which brings us to the really important point. Throughout this saga rules have been bent. Conflicted individuals, alleged to have been involved in the tax and registration scam and its subsequent cover-up, have remained in positions of authority and power, despite being under a cloud throughout. The media have been complicit, except in rare cases, in allowing the wrong-doing to go unquestioned, actively campaigning for rules not to be applied.

What we have been saying all along is this. Please play the game by the rules, and do not manufacture special cases for the financially powerful.

Call Rangers whatever you wish, but deal with their transgressions appropriately in the spirit of sporting fairness, and within the framework of the existing rules. That is the least – and most – we expect. We don’t ask for much. Just give us back some pride in our sport .

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.

2,065 Comments so far

angus1983Posted on3:46 pm - Oct 17, 2012


Duff & Duffer: “This will not affect the current operations of The Rangers Football Club in any way as it is a completely separate entity.”
——

An interesting omission of “Ltd” there. 🙂

View Comment

wottpiPosted on3:47 pm - Oct 17, 2012


“I was brought to the transaction by Imran Ahmad following Duff and Phelps contacting Zeus Capital in February, due to their experience in the football sector.

So within 14 days of becoming Administrators Duff & Duffer were talking to a party who were part of the the eventual owning consortium but no mention was ever made of them until the very last moment while the Blue Knights, Kennedy BIll Ng and Bill Miller were all led a merry dance.
The stink just gets smellier.

View Comment

paulsatimPosted on3:48 pm - Oct 17, 2012


@BigStuart1888: @hen1rik @tommyinglasgow Tommy – Blue Pitch Holdings are a company formed by Stoy Hayward of BDO.

View Comment

mdccclxxxviiiPosted on3:51 pm - Oct 17, 2012


Danish Pastry says:
Wednesday, October 17, 2012 at 15:41
0 0 Rate This
mdccclxxxviii says:
Wednesday, October 17, 2012 at 15:33
0 0 Rate This
Charlie responds to Craigy’s claims.
——————–

Sorry mate, you’d posted just before I added my bit of Craig Whyte

———————————————————————————-

no worries mate, its’ all about getting the news out………

View Comment

Charlie BrownPosted on3:55 pm - Oct 17, 2012


Greens 1st day at ibrox ”i have never met Craig Whyte in my life”

and yet in May http://www.guardian.co.uk/football/2012/may/13/rangers-charles-green-craig-whyte

and now todays revelations on the Rangers website.

View Comment

bogsdolloxPosted on3:57 pm - Oct 17, 2012


ordinaryfan says:
Wednesday, October 17, 2012 at 15:20

Time for the relevant authorities to put the liquidation process on hold and a clear and concise investigation by the Police.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Is that what CW is trying to achieve? He’s openly suggesting there is a conflict of interest and Lord Hodge will have to take notice of this. But hasn’t there been a police investigation going on for about the last three months?

One way of removing the conflict and investigate further is to remove Duff & Duffer by ending administration and letting the forensic accountants at BDO have access to the paperwork.

View Comment

SmugasPosted on4:03 pm - Oct 17, 2012


Duff & Duffer: “This will not affect the current operations of The Rangers Football Club in any way as it is a completely separate entity.”
——

An interesting omission of “Ltd” there.

————
That’ll be twitter for you. Message from D&P lawyers read “for goodness sake don’t forget to stick in the separate entity bit” and then after the 140 characters…”and DO NOT under any circumstances forget to put Ltd at the end!

View Comment

ordinaryfanPosted on4:03 pm - Oct 17, 2012


Wottpi@15.13
Of course anything that comes out of Craig Whyte’s mouth has to be taken with a bucketful of salt. What I will say though is that if he is lying he could be in huge trouble and could face multiple court actions. What he is saying also makes perfect sense and there is tonnes of circumstantial evidence to back up his claims. Most intelligent commentators such as RTC and Paul Mconville have said this scenario is most likely as all other scenarios would make very little sense for those involved.
IMO we are now one step closer to David the puppeteer Murray.

View Comment

verselijkfcPosted on4:07 pm - Oct 17, 2012


mdccclxxxviii says:
Wednesday, October 17, 2012 at 15:33

“I had no previous association with Craig Whyte and it is misleading to suggest he ‘brought us in’.
“I was brought to the transaction by Imran Ahmad following Duff and Phelps contacting Zeus Capital in February, due to their experience in the football sector.

According to the Zues Capital website they haven’t done any football-related deals outwith rangers. not to say they haven’t been in discussions on potential football deals of course but this is their official track record. one club. soon to be deceased. again.

View Comment

john clarkePosted on4:08 pm - Oct 17, 2012


Just caught BBC Radio scotland news item re D&P statement that Administration is ended, and BDO moving in??
Anybody confirm?

View Comment

ordinaryfanPosted on4:08 pm - Oct 17, 2012


Smartie1947@15.39
S

View Comment

Not The Huddle MalcontentPosted on4:10 pm - Oct 17, 2012


john clarke says:
Wednesday, October 17, 2012 at 16:08
0 0 Rate This
Just caught BBC Radio scotland news item re D&P statement that Administration is ended, and BDO moving in??
Anybody confirm?

——————————————-

yeah, well, creditors have signed it off….now LH to approve – full article posted above

View Comment

SeniorPosted on4:12 pm - Oct 17, 2012


Will Criag Whyte’s admission, of meeting Green spell the death for Green’s spurious IPO? It may well be that Green will be looking for that safe house again!
Those white collared spives waiting in the shadows, waiting to pick the carcass of Servco, will appear shortly to commence the end game – they hope!

View Comment

verselijkfcPosted on4:13 pm - Oct 17, 2012


paulsatim says:
Wednesday, October 17, 2012 at 15:48
7 0 i
Rate This

@BigStuart1888: @hen1rik @tommyinglasgow Tommy – Blue Pitch Holdings are a company formed by Stoy Hayward of BDO

wasn’t this originally tweeted by Gio the Devil’s advocate though? Even a broken clock a right twice a day mind

View Comment

paulsatimPosted on4:17 pm - Oct 17, 2012


verselijkfc says:
Wednesday, October 17, 2012 at 16:13

That may well be the case, I dont recall seeing it, or hearing this little tidbit before. Leave it to Tommy in Glasgow, he’ll chase it down. Says he has lots of ctc nos at BDO, LOL!!

View Comment

killiemadPosted on4:18 pm - Oct 17, 2012


Mr Clark said this would not affect the new Rangers “as it is a completely separate entity”.

He added: “As administrators, our primary statutory function was to ensure Rangers continued as a business and this was achieved.

“Secondly, we were tasked to secure a buyer for the club and this too was achieved.

How does this compare to D&D’s seemingly constant insistance in their early tenure of Rangers that their job was to get as good a return for the the credtors as possible?

View Comment

john clarkePosted on4:19 pm - Oct 17, 2012


Edgar Blamm (@EdgarBlamm) says:
Wednesday, October 17, 2012 at 15:29
—-
I see your tweet, thanks.. Bit confused about how I would proceed from there, though.
I’ll work at it though.

View Comment

ordinaryfanPosted on4:21 pm - Oct 17, 2012


Smartie1947@15.39
Is that how something like this would normally work? BDO

View Comment

goosyPosted on4:29 pm - Oct 17, 2012


re Statement by D&P
“we as administrators have instructed our legal team to prepare the necessary application for lodging in the Court of Session as a matter of urgency.”
“Should the application be approved, then Malcolm Cohen and James Bernard Stephen of BDO will be appointed liquidators of RFC 2012 plc”
“We have co-operated fully with inquiries into our appointment by Lord Hodge at the Court of Session and the Insolvency Practitioners’ Association.”
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
One would have thought that if D&P had been cleared of COI they would be shouting it from the rooftops. Its also unlikely that LH would gag them from commenting on the issue if he had cleared them
So
Are we simply witnessing due process ?
Are D&P applying to COS for handover to BDO without any decision on the COI issue? Or has LH advised D&P that he now has all the information he requires to decide on COI and the Administration can therefore be concluded?
If this was the case then surely BDO would need to start their work by reviewing the COI findings of LH?
One thing is certain
The IPO cannot go ahead if there is a possibility of the sale to Green being unwound
Although it would probably not stop fans being sold certifcates in TRFC the “ Club” as long as it was made clear to them that they were not investing in TRFC the “Company”

View Comment

bogsdolloxPosted on4:38 pm - Oct 17, 2012


goosygoosy says:
Wednesday, October 17, 2012 at 16:29Rate This

re Statement by D&P
“we as administrators have instructed our legal team to prepare the necessary application for lodging in the Court of Session as a matter of urgency.”
“Should the application be approved, then Malcolm Cohen and James Bernard Stephen of BDO will be appointed liquidators of RFC 2012 plc”
“We have co-operated fully with inquiries into our appointment by Lord Hodge at the Court of Session and the Insolvency Practitioners’ Association.”
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
One would have thought that if D&P had been cleared of COI they would be shouting it from the rooftops. Its also unlikely that LH would gag them from commenting on the issue if he had cleared them
So
Are we simply witnessing due process ?
Are D&P applying to COS for handover to BDO without any decision on the COI issue? Or has LH advised D&P that he now has all the information he requires to decide on COI and the Administration can therefore be concluded?
If this was the case then surely BDO would need to start their work by reviewing the COI findings of LH?
One thing is certain
The IPO cannot go ahead if there is a possibility of the sale to Green being unwound
Although it would probably not stop fans being sold certifcates in TRFC the “ Club” as long as it was made clear to them that they were not investing in TRFC the “Company”
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

No decision on the COI issue ->LH thinking BDO better placed to flush out the info he requires->LH has smelled (smelt) a rat.

View Comment

ddmc999Posted on4:39 pm - Oct 17, 2012


medium term lurker 1st time poster…..

All players in this saga have lied, spun & told moonbeams, but there’s only 1 player stood up in court & told untruths wrt to having no conflict of interest, MCR recently sold to Duff & Duffer©, I bet that wasnt on the due dilligence radar when they bought MCR.

I generally apply cue bono when looking at a conspiracy, with today’s move it isn’t clear who gains but Duff & Duffer© deffo lose

In fact if Clark,Whitehouse & Grier are compromised by way of conflict of interest being invovled in the shenanigans from the start could D&D© use it to roll back their purchase of MCR ?

View Comment

ExiledCeltPosted on4:44 pm - Oct 17, 2012


http://www.bbc.co.uk/news/uk-scotland-glasgow-west-19976991

Former Rangers owner Craig Whyte has claimed he introduced Charles Green to Duff and Phelps as the administrators searched for a buyer for the club.

In a wide-ranging BBC interview, Mr Whyte said he and his advisors “went out and used our contacts” in London “to put a suitable deal together”.

Rangers chief executive Mr Green said Mr Whyte had painted “a misleading picture of what actually happened”.

He said his team contacted Mr Whyte as it thought his shares might be needed.

Rangers, under Whyte’s control, was forced into administration by HM Revenue and Customs (HMRC) on 14 February over non-payment of tax totalling about £14m.

Asset sale

After HMRC rejected proposals for a creditors agreement that would have allowed the old club to continue, administrators Duff and Phelps negotiated a sale of assets to a consortium led by Mr Green for £5.5m.

Continue reading the main story

Start Quote
Yet again Craig Whyte’s version of events paints a misleading picture of what actually happened and it’s regrettable that the BBC is providing him with such a platform”
End Quote
Charles Green

Rangers chief executive

He has since formed a new club, now playing in the Scottish Football League Third Division.

Speaking exclusively to BBC Scotland’s Chris McLaughlin, Whyte said he had played a key role in the sale.

“I was the one who found a buyer – it wasn’t Duff and Phelps,” he said.

“My colleagues in London – when no credible buyer was coming forward – went out and used our contacts in the city to find… to put a suitable deal together.”

When asked if he was the one who had brought Mr Green to the table, Whyte answered: “Absolutely. I introduced them to Duff and Phelps.”

Asked if his relationship with Charles Green and Rangers was okay, he replied: “Yeah, sure.

“I think given the public perception of me, people are keen to distance themselves from me publicly.

“But I have no problem with the current management of Rangers.”

‘Direct contact’

Mr Whyte’s version of events, however, is comprehensively disputed by Mr Green.

In a statement, the Rangers chief executive said: “Yet again Craig Whyte’s version of events paints a misleading picture of what actually happened and it’s regrettable that the BBC is providing him with such a platform.

“The facts are that direct contact was made by our consortium with Craig Whyte in the first instance as it appeared at that time that his shares would have to be secured in order for any purchase of the club to progress.

“I was not present when contact was initially made but subsequently met Craig Whyte, who introduced me to the administrator.”

Mr Green said he had “no previous association with Craig Whyte” and it was “misleading to suggest he ‘brought us in’.”

He added: “I was brought to the transaction by Imran Ahmad following Duff and Phelps contacting Zeus Capital in February, due to their experience in the football sector.”

Full details of the Craig Whyte interview, and reaction to it, will be on the BBC Scotland news website and on Reporting Scotland at 18:30.

View Comment

Ed BPosted on4:46 pm - Oct 17, 2012


john clarke says:
Wednesday, October 17, 2012 at 16:19

———————
If you’re signed into twitter, click on ‘Followers’ and you’ll see the people who’ve chosen to follow you.

It’s customary to reciprocate by following them back (which you can do by simply clicking the ‘Follow’ button next to their name) but that’s entirely your prerogative.

Start following people in whom you’re interested. For instance: RTC, CQN, Phil Mac, or any MSM journalists you wish to scrutinise and sling muck at.

Any tweets and retweets made by the people you follow will immediately appear on your home page (timeline). Your own tweets will immediately appear on your followers’ timelines.

At the moment, you’re not following many people, so your timeline will be pretty sparse.

More info: https://support.twitter.com/articles/14019-faqs-about-following

View Comment

HirsutePursuitPosted on4:55 pm - Oct 17, 2012


killiemad says:
Wednesday, October 17, 2012 at 16:18
6 0 Rate This
Mr Clark said this would not affect the new Rangers “as it is a completely separate entity”.

He added: “As administrators, our primary statutory function was to ensure Rangers continued as a business and this was achieved.

====================================================
Now this is very, very, strange thing to say.

The primary statutory function was to attempt to rescue the company as a going concern. The administrators have no legitimate interest in ensuring Rangers {the brand} continued as a business – unless it was in the interest of creditors to do so.

If Paul Clark truly said these words, he has, I think, just disqualified himself from future employment as a a licensed UK Insolvency Practitioner.

View Comment

ordinaryfanPosted on4:57 pm - Oct 17, 2012


Craig Whyte says “I have no problem with the current management of Rangers.”
Could the reference he makes to the current MANAGEMENT and not current OWNERS be significant? Could it be that as far as Craigy Boy is concerned Green’s consortium might not be the legal owners? Does Craigy Boy still believe he has a right over certain assets?

View Comment

monster_mindPosted on5:02 pm - Oct 17, 2012


HirsutePursuit says:

Now this is very, very, strange thing to say.

The primary statutory function was to attempt to rescue the company as a going concern. The administrators have no legitimate interest in ensuring Rangers {the brand} continued as a business – unless it was in the interest of creditors to do so.

If Paul Clark truly said these words, he has, I think, just disqualified himself from future employment as a a licensed UK Insolvency Practitioner.

===============================

Correct. The law is quite clear on this.

Rescuing the company as a going concern means to rescue the company, as opposed to rescuing the business undertaken by the company.

Duff and Duffer (copyright acknowledged) singularly failed to rescue the company as a going concern. It’s about to be liquidated.

View Comment

wottpiPosted on5:02 pm - Oct 17, 2012


So the Guardian reports on 13 May 2012

=====================================================================
On any suggestion of a previous connection, Green said: “It was complete rubbish. I met Craig Whyte for the very first time a week last Tuesday in London.”
=====================================================================

To me that makes it 1 May 2012.

However Bill Miller was given preferred bidder status on 3rd May 2012 but withdrew on 8th May 2012

On 10th May 2012 Duff & Duffer seemed to be reporting that there were four bidders.

http://www.independent.co.uk/sport/football/scottish/rangers-administrators-hold-talks-with-bidders-7733296.html
======================================================
Joint administrator David Whitehouse was quoted in several newspapers saying: “We’ve had some quite detailed discussions with three of the four bidders.
“They are very real bidders and although two of them are very late to the table they are actually very advanced in their thought process, well engaged with advisors and well funded.
“They would be – I believe – popular with fans. Both bids.
“They are known names in both football and also within the Scottish community.
“There is certainly a more natural empathy with the club than Bill Miller had.
“There is a Rangers connection there. They want anonymity, but that will break in the next 24 to 48 hours.
“These bidders are in a position where they are well known and if they put their heads above the parapet there will be a crescendo of interest and support and they don’t want that yet.
“They will only do so if they are in a position of likely success.
“Brian Kennedy is what I would describe as the fourth bid.”
Whitehouse also claims owner Craig Whyte has agreed to transfer his 85% shareholding for a pound.
He added: “To our knowledge, there are written agreements in place with two of the bidders to transfer his shares.”
======================================================

Implications is that one of the four could have been Bill Ng’s resurected offer. Kennedy was the other.
That leaves the two ‘late to the table’ bids, one which must have been Green’s consortium being he must have been one of the two who done the £1 deal with Whyte.

How does being ‘late to the table’ tie in with the fact that Mr Charles is now saying Duff & Duffer were on the blower to Zeus within 14 days of taking over?

They are stretching it a bit if they thought that “They are known names in both football and also within the Scottish community” & “There is a Rangers connection there.”

It all stinks to high heaven.

View Comment

AgrajagPosted on5:10 pm - Oct 17, 2012


wottpi says:
Wednesday, October 17, 2012 at 15:47
23 0 i
Rate This

“I was brought to the transaction by Imran Ahmad following Duff and Phelps contacting Zeus Capital in February, due to their experience in the football sector.

So within 14 days of becoming Administrators Duff & Duffer were talking to a party who were part of the the eventual owning consortium but no mention was ever made of them until the very last moment while the Blue Knights, Kennedy BIll Ng and Bill Miller were all led a merry dance.
The stink just gets smellier.

======================

Exactly, as we had already surmised, It was Green right from the start. It was a sale of assets right from the start. It was never a CVA, it was never going to be anyobne else.

View Comment

vinbhoyPosted on5:11 pm - Oct 17, 2012


looks like STV have decided to back CG on this one… their article goes to great pains to slate CW

http://news.stv.tv/scotland/195301-charles-green-rejects-craig-whytes-claim-over-rangers-buyout-role/

View Comment

spanishceltPosted on5:12 pm - Oct 17, 2012


paulsatim says:
Wednesday, October 17, 2012 at 16:17
That may well be the case, I dont recall seeing it, or hearing this little tidbit before. Leave it to Tommy in Glasgow, he’ll chase it down. Says he has lots of ctc nos at BDO, LOL!!
………………………………………………………………………
This is a series of tweets posted by Lord wobbly on RTC ON 19TH July,,,,,,,,,,,,,
Ive tidied them up for easier reading.

Lord Wobbly says:
19/07/2012 at 12:57 am

GIOVANNI DI STEFANO @DEVILSADVOKAT 53m
Blue Pitch Holdings are a company formed by clients of BDO Stoy Hayward whose aims are to make short term investments and acquire assets at undervalue then to sell.

BPH also have on board members of BDO Stoy Hayward who are insolvency practitioners and have information regarding companies that are going down..

They then identify those and use their friends to invest .. D&P do similar scheme

So it would appear that the majority shareholder is not in it for the long term but probably loaned some money on return for real security.

View Comment

Charlie BrownPosted on5:31 pm - Oct 17, 2012


STV ? this would be the same STV who are The Rangers media partners and mirror the RFC website? Slating Craig Whyte & backing Charles Green …… really? 🙂

View Comment

ExiledCeltPosted on5:37 pm - Oct 17, 2012


Rangers administrators Duff and Phelps knew Craig Whyte had sold season tickets to buy the club, the former owner has told the BBC.

Mr Whyte bought the club from Sir David Murray for £1 and gave an undertaking to settle its £18m Lloyds Bank debt.

It later emerged he paid the debt by selling three years of season tickets to finance firm Ticketus for £25m.

Duff and Phelps said Whyte’s claim that they knew of the deal was “false, malicious and without foundation”.

As well as being involved in Craig Whyte’s takeover, Duff and Phelps were appointed as Rangers’ administrators after the club plunged into insolvency in February.

In May, a BBC Scotland investigation suggested that a senior Duff and Phelps partner, David Grier, may have known that a deal to sell three years of season tickets was under way last April, before Craig Whyte’s takeover.

David Grier denied the claims and said he was unaware of this particular Ticketus deal until August 2011.

Continue reading the main story

Start Quote
The allegations against the administrators, who are officers of the court, are false, malicious and without foundation”
End Quote
Paul Clark

Duff and Phelps

But in an interview with the BBC’s Chris McLaughlin, Whyte said: “Everybody who was involved in the deal team at the time knew about it.

“They (Duff and Phelps) knew everything, they attended meetings, they were copied into all the emails, they were there on the day of completion. They knew from the start.”

In response, Rangers’ joint administrator Paul Clark, of Duff and Phelps, said: “The allegations against the administrators, who are officers of the court, are false, malicious and without foundation.

“They should not be given any credibility given the source. It should be remembered that Mr Whyte’s takeover of Rangers is now the subject of an ongoing criminal investigation and we have provided evidence to that inquiry.

“In addition, as administrators, we instigated legal proceedings against Mr Whyte’s solicitors in the High Court in London and those proceedings are centred round the very serious allegation that Mr Whyte was involved in a conspiracy which deprived Rangers of many millions of pounds.

“Our conduct of the Rangers administration has been the subject of intense public scrutiny and we are wholly satisfied it was carried out to the highest professional standards.

“We have co-operated fully with inquiries into our appointment by Lord Hodge at the Court of Session and the Insolvency Practitioners’ Association.”

‘Clearly documented’

In the interview, Whyte also claimed the fact that he was not using his own money to fund his purchase of Rangers had been laid out in sale documents.

“It was certainly mentioned in the sale agreement that season ticket funding may well be used,” said the Motherwell-born businessman.

“There was also mention of third party funds. So, it wasn’t me somehow pretending that I used my own money when I wasn’t. It was clearly documented.

Continue reading the main story

Start Quote
With the benefit of hindsight, what I should have done when I first bought the club was be more open about the funding”
End Quote
Craig Whyte

“All the advisors on my side of the table knew about it, the takeover panel knew about it. It was not a secret. The only people who were perhaps misled were the media and the fans, which is regrettable with hindsight.”

In January, when a newspaper reported that future season tickets had been sold to Ticketus, Whyte said: “In the most lurid terms the Daily Record accuses the club’s management and specifically me of using supporters’ money to help fund the buyout of Rangers. Not true.”

But the 41-year-old denied lying to fans about how his takeover was funded.

He said: “I think I was asked a specific question: ‘Did you mortgage the season tickets’. I said no because they weren’t mortgaged.

“To be fair, with the benefit of hindsight, what I should have done when I first bought the club was be more open about the funding.

“I didn’t lie but perhaps I misled people about that and it was a mistake with hindsight.”

‘Murray unaware’

However, Whyte defended the principle of using ticket money as a funding vehicle to buy the club.

“There’s no difference between a bank overdraft or a bank loan to fund the club and using a funding method like Ticketus,” he said.

“If you use the bank’s money, you use other people’s cash.

“Keep in mind that I also personally underwrote the Ticketus transaction, so it wasn’t as if I went into this deal with no risk.”

He said the previous Rangers owner, Sir David Murray, was not aware of the Ticketus deal.

“Ticketus had already dealt with the club for two or three years before I got involved,” he said.

“Although his company recommended that we use Ticketus, he wasn’t aware of the full funding arrangements, as you wouldn’t expect him to be.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-19920930

View Comment

nickmcguinnessPosted on5:38 pm - Oct 17, 2012


Agrajag at 17:10:

No, it wasn’t Green from the start. He was brought in late in the day to act as a frontman and noisy distraction from the real story.
It was Zeus Capital (acting on behalf of Octopus/Ticketus, with the connivance of Fudd & Duffer) from the start.
Brian Stockbridge was working on this scheme/scam from late February. But who was he working WITH?
This stinks like a six-month-old barrel of herring.

View Comment

ExiledCeltPosted on5:38 pm - Oct 17, 2012


Craig Whyte has claimed that the SPL knew Rangers were going bust months before the club entered administration.

The former Rangers owner said the club “had no money” after being knocked out of European competition by August 2011.

Whyte said he told SPL chief executive Neil Doncaster and former chairman Ralph Topping in October 2011 that “administration was almost inevitable”.

He described the SPL and SFA’s handling of the affair as a “disaster”. Neither body has commented on the claim.

Speaking exclusively to BBC Scotland’s Chris McLaughlin, Whyte said that the game’s governing bodies were not involved in any way during his negotiations to buy Rangers from Sir David Murray.

‘Kept informed’

He said, however, that he “certainly kept them informed” as the club’s finances deteriorated.

“In October (2011), I met Neil Doncaster and Ralph Topping in London, told them administration was almost inevitable,” he said.

Continue reading the main story

Start Quote
They think what verdict they want then get some legal minds to somehow legitimise it – the whole thing is farcical”
End Quote
Craig Whyte

“I told them that exit by a CVA (creditors agreement) is unlikely and that we would need a lot of support to get through a really tough situation.”

He added: “They obviously didn’t want to lose Rangers from the SPL and they were supportive. It was a positive meeting.”

Asked how the SPL and SFA had handled the situation since then, Whyte replied: “It’s been a disaster. They’ve made Scottish football the laughing stock of the world.”

“As far as the SFA and the SPL is concerned, what other country in the world would deal with one of their biggest clubs in the way that they have, and demote them to the Third Division,” he said.

“There’s still investigations going on apparently. They’re a laughing stock as far as I’m concerned.”

One month after Rangers entered administration in February, an SFA-commissioned independent inquiry, led by Lord Nimmo Smith, concluded that Whyte was “not a fit and proper person” to own a football club.

He was subsequently fined a total of £200,000 for a range of breaches of the association’s rules and banned for life from “any participation” in Scottish football.

‘Unfair hearing’

Whyte described the Nimmo Smith probe as “a joke and a farce” and said he would never pay the money.

He said: “The SPL are now trying to do something similar with the club, to strip them of titles, which, again, I think everyone must agree that Rangers have been punished enough.”

Referring to the fines totalling, £200,000, Whyte said: “I said at the time there’s no chance of paying.

“They haven’t written to me officially, they haven’t asked for any money – but I’ve made it very clear that I will never pay the SFA £200,000.”

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-19923446

View Comment

ExiledCeltPosted on5:39 pm - Oct 17, 2012


Craig Whyte has laid the blame for Rangers’ financial meltdown at the door of former owner Sir David Murray and the old board of directors.

Whyte said Murray’s decision to use Employee Benefit Trusts (EBTs) – which saw the club hit with a multi-million pound tax bill – was “ruinous”.

The businessman said he was only “driving the train when it crashed” and did not set it on its path.

Sir David Murray declined to respond to Whyte’s claims.

Speaking exclusively to BBC Scotland’s Chris McLaughlin, Whyte said: “You’ve got to look to where the problem started, what caused this chain of events.

‘Heads in sand’

“What caused it was the ruinous EBT scheme, which was in operation for 10 years.

“If it hadn’t been for that, the club wouldn’t have been sold for £1 and the club would’ve been able to get proper funding.”

Whyte accused Sir David Murray and the former board of “burying their heads in the sand” once the club had been hit with a tax bill from HM Revenue and Customs (HMRC) over the use of EBTs.

Continue reading the main story

Start Quote
I wouldn’t say that I lied but I maybe wasn’t as open as I could have been. I certainly made mistakes”
End Quote
Craig Whyte

Rangers operated its EBT scheme during the period 2001-2010. This provided more than £47m in payments to players and staff in the form of tax-free loans.

HMRC contends it has proof, in the form of documents and emails, that the payments were contractual in nature, which would make the scheme illegal.

Whyte said that once the bill, for more than £49m including penalties and interest, was served on Rangers, Murray and the old board could have tackled it differently.

He said: “Even if you look back to the previous board, before I was involved, they could’ve battened down the hatches, they could’ve cut expenses, they could’ve got rid of the Lloyds debt themselves, they could’ve built up a surplus of cash to deal with the tax case.

“They chose not to do that, they chose to bury their head in the sand and not deal with these issues.”

‘Huge mistake’

Whyte denied lying to Rangers fans over the Ticketus deal which saw him borrow against future ticket revenue to pay off £18m of the club’s bank debt to Lloyds.

“I wouldn’t say that I lied but I maybe wasn’t as open as I could have been. I certainly made mistakes,” he said.

“I should’ve been more open about the funding arrangements and how dire things were and I deeply regret not being more open about that when I first came in.

“It was a huge mistake on my part. I certainly made mistakes and I take full responsibility for any of my actions during the time that I was there.”

Whyte added: “But for people to blame me for what’s happened to Rangers, the tax liability of £100m or whatever it is, that would be some going, to build that up in nine months.”

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-19923442

View Comment

AgrajagPosted on5:45 pm - Oct 17, 2012


HirsutePursuit says:
Wednesday, October 17, 2012 at 16:55
14 0 i Rate This

killiemad says:
Wednesday, October 17, 2012 at 16:18
6 0 Rate This
Mr Clark said this would not affect the new Rangers “as it is a completely separate entity”.

He added: “As administrators, our primary statutory function was to ensure Rangers continued as a business and this was achieved.

====================================================
Now this is very, very, strange thing to say.

The primary statutory function was to attempt to rescue the company as a going concern. The administrators have no legitimate interest in ensuring Rangers {the brand} continued as a business – unless it was in the interest of creditors to do so.

If Paul Clark truly said these words, he has, I think, just disqualified himself from future employment as a a licensed UK Insolvency Practitioner.

====================================

Exactly, they have a responsibility to try to keep the limited company going as a viable business. If that fails, and the rejection of a CVA means it has, then their responsibility is to the creditors and them alone.

As we have discussed before that was never the case, they wanted to keep A Rangers going, one way or the other. It is now clear that a sale of assets to Charle Green was always the way that was going to be done.

This is exactly as we had surmised.

It is shameful.

View Comment

Gym TrainerPosted on5:51 pm - Oct 17, 2012


>>“As far as the SFA and the SPL is concerned, what other country in the world would deal with one of their biggest clubs in the way that they have, and demote them to the Third Division,” he said.

Italy? AC Fiorentina, 2002?

View Comment

angus1983Posted on5:55 pm - Oct 17, 2012


——
He (CW) said: “The SPL are now trying to do something similar with the club, to strip them of titles, which, again, I think everyone must agree that Rangers have been punished enough.”
——

A little bit of the party line popping through there …

I’m reasonably sure CW is not an unexpected guest at Mr Charles’s table today.

View Comment

neveroffsidePosted on5:57 pm - Oct 17, 2012


well done to the BBC today – they have stuck at this story when all the tabloids refused to bite the hand that feeds.

If only the BBC would start looking into FoI requests about discussions between HMRC and the government over Rangers(ia) we would really start getting somewhere

I genuinely want the share issue to be stopped before ordinary working class people get shafted for £500 that they can’t afford – maybe Whyte has done ordinary families a big favour today – they just might not appreciate it yet…..but it would be the right thing to happen

View Comment

nickmcguinnessPosted on5:58 pm - Oct 17, 2012


Whyte is very careful to absolve his old pal Murray of having any knowledge of his Ticketus deal, even though “his company recommended that we use Ticketus”.

But earlier on in the interview, Whyte stated that his use of season ticket cash was well documented in the sale agreement and was “no secret”.
Hmmmm . . .

A wee sideshow, perhaps, to distract from the fact that today Fudd & Duffer had to submit an application for liquidation “as a matter of urgency”?
What is the “urgency”? And why the sudden need to focus attention on Green, and away from Murray?
Hmmmm . . .

View Comment

calumcrofterPosted on6:22 pm - Oct 17, 2012


Can I too pick up on the following from Mr Clark?
“As administrators, our primary statutory function was to ensure Rangers continued as a business and this was achieved.
Secondly, we were tasked to secure a buyer for the club and this too was achieved…..”

My understanding is that Administration does indeed have a ‘statutory function’ to ‘secure’ a sustainable future for a business; Liquidation has a ‘statutory duty’ to ‘secure’, for creditors, the most achievable return.

Much has been written, on here, RTC and elsewhere, on this being an unusual Administration. If it is not unusual, it certainly does nothing to commend the process. I do not believe that the process should allow what appears to have happened in this case, when creditors were asked to accept/reject a proposed CVA. It is surely wrong that, as part of a CVA proposal, there is agreement between the Administrators and the ‘failed CVA bidder’ on a future which deliberately alienates creditors and seems to be open to dubious practice.

The moment of failure of the CVA is when the Liquidator should come in. To my mind, he has a more rigorously regulated function and would arrive at a solution to the Rangers situation which would be acceptable to all parties…… a new ‘Rangers’ would still emerge but creditors would be less inclined to feel that they have been shafted.

I don’t expect Green & Whyte to cast much light on the situation tonight. Maintaining a safe distance from the truth in their public commentary is just one characteristic they share. Their spat will entertain though.

View Comment

andyPosted on6:23 pm - Oct 17, 2012


WEDNESDAY, 17 OCTOBER 2012 17:47
Over £17m Pledged
WRITTEN BY LINDSAY HERRON

CHARLES GREEN has revealed that £17million has been pledged so far in terms of the Rangers share issue and insists that any fan who follows through is guaranteed shares.

The announcement was made last week of the IPO with the intention of raising £20million and the response from supporters has been huge.
Charles Green told RangersTV: “It has been very encouraging and I’m now seeing the passion and commitment of Rangers fans financially. We see it on the terraces, of course, but in these difficult financial times the response has been amazing.
“In the last figures I saw a couple of days ago over 8000 fans had registered – with some 20000 fans on the website – and we have pledges of around £17million.
“And by the time we get to the cut-off date that figure will have risen.
“I would like to stress that any fan who backs up his or her pledge with a cheque will get their shares.
“I have had some calls from people concerned about that because we said the IPO would be up to £20million but fans will get their shares.
“It’s much better than I expected. I don’t think anyone could have predicted the response and it’s testimony to what Rangers fans are about. They can see that the club is going in the right direction and this really is the icing on the cake.
“I don’t think there is any doubt that we will know exceed our expectations.
“Ally McCoist and I were at the AIM dinner last week following the announcements and we got a fantastic ovation and following the formalities we were chatted up by fund managers who are interested in meeting us when we do the formal roadshow which will be in about two weeks’ time.
“I said back in May that would IPO and that we would have a very diverse share base where there wouldn’t be control for one person.
“To my mind this is the most important and last step of promises we made in May.”

_______________
🙂

View Comment

doontheslopePosted on6:23 pm - Oct 17, 2012


johnboy

I believe the “sideshow”, the sudden spat between Whyte and Green and Duff and Duffers announcement, is an attempt to bury the fact that BDO’s ‘Blue Pitch Holdings’ have % in Newco.

View Comment

Richard Wilson (@timomouse)Posted on6:28 pm - Oct 17, 2012


Had a chat with a friend of mine working in the stock exchange regarding Whyte and the share issue and here is the result – http://www.thefootballlife.co.uk/post/33778354458/newco-whats-in-black-and-whyte

In the words of Susan Saint James “Uh Oh”

View Comment

SouthernExilePosted on6:28 pm - Oct 17, 2012


“But in an interview with the BBC’s Chris McLaughlin, Whyte said: “Everybody who was involved in the deal team at the time knew about it.

“They (Duff and Phelps) knew everything, they attended meetings, they were copied into all the emails, they were there on the day of completion. They knew from the start.”

In response, Rangers’ joint administrator Paul Clark, of Duff and Phelps, said: “The allegations against the administrators, who are officers of the court, are false, malicious and without foundation.”

——————————-

Whyte is correct. Clark is a bare-faced liar. He lies in the face of the contemptuous email trails involving his colleague Grier.

http://www.bbc.co.uk/news/uk-scotland-18175731
——————————–

How does he think he can get away with it?

View Comment

bangordubPosted on6:32 pm - Oct 17, 2012


Just in from work, did I miss something?

View Comment

goosyPosted on6:44 pm - Oct 17, 2012


Just watched CW part interview
Explosive stuff
Did you dupe SDM?
If I heard it right Whyte said the RFC sale agreement between him and SDM also covered ST funid the deal, liquidation of RFC and the setting up of Newco

Its the end of the beginning

View Comment

nowoldandgrumpyPosted on6:48 pm - Oct 17, 2012


andy says:
Wednesday, October 17, 2012 at 18:23
0 0 Rate This
====

Strange then in the ETimes Green says 7500 registered and £15 mill today.

Is he just making these figures up dependant on who he is talking too?

View Comment

Long Time LurkerPosted on6:51 pm - Oct 17, 2012


Barcabhoy makes an excellent point:

Barcabhoy ‏@Barcabhoy1
Green says Whyte claims “misleading” .That’s as weak a rebuttal imaginable.Why not say it’s “a lie, complete nonsense ,no truth whatsoever”

View Comment

Richard Wilson (@timomouse)Posted on6:52 pm - Oct 17, 2012


andy says:
Wednesday, October 17, 2012 at 18:23

Has he said how much of that is Celtic fans making joke applications? £16.9 million?

View Comment

smartie1947Posted on6:56 pm - Oct 17, 2012


An excellent and reassuring interview with Craig Whyte on Reporting Scotland tonight.
Just the type of fellow I would wish to trust with my life savings, if I had not already pledged them to Charles Green to buy as many Sevco shares as possible.

View Comment

readceltPosted on7:02 pm - Oct 17, 2012


Not to burst any bubbles but why believe Whyte now when he has lied time and again?

More questions to ask?

View Comment

bangordubPosted on7:03 pm - Oct 17, 2012


Oh the joys of this blog. Days and days of anticipation with nothing happening. The usual PR trolling based upon the tried and tested routine of sowing doubt, confusion, fear and division, (Being Irish I know something about these techniques as practiced by certain parties upon us)
The only question I have is:
Does this derail the Worlds greatest ever flotation or is it designed to maximise it?
For what it’s worth, my view is that Mr Green (Why can’t I stop thinking Reservoir Dogs?) knows he has no chance with serious investors and a plot is afoot. Sorry, I’m an aul cynic

View Comment

stmileyPosted on7:07 pm - Oct 17, 2012


Vinbhoy

STV = MEDIA HOUSE

Every STV journalist has the same opinions about whatever story comes out of Ibrox, that is no coincidence. Puppets with zero credibility. Funnily enough their opinions can differ on other subjects.

View Comment

Long Time LurkerPosted on7:08 pm - Oct 17, 2012


Radio Scotland now, extended Sportsound with Jim Spence – CW (extended) interview and discussion.

As I type CW, Alex Salmond talked to HMRC on our [RFC] behalf.

View Comment

andyPosted on7:09 pm - Oct 17, 2012


http://www.bbc.com/news/uk-scotland-19975957

full interview with whyte

View Comment

timtimPosted on7:13 pm - Oct 17, 2012


This share issue will go down like Felix Baumgartner minus the parachute

View Comment

FIFAPosted on7:22 pm - Oct 17, 2012


Longtimelurker
I am surprised Charlie did not come out with ,what Mr Whyte is saying is 99.9 per cent crap ,best one of the night so far to R,Wilson ,for every £5 I spend on Rangers shares it will lose me a tenner.Does anyone know how you can gain entry into the Lair of Liars must be af un club to be a member of.

View Comment

bangordubPosted on7:31 pm - Oct 17, 2012


Ok, look again at the interview, closely. Watch how the interviewer maintains eye contact while the interviewee blinks, looks all over the room except at the interviewer while he answers questions. At the end of each answer he looks straight at the interviewer to evaluate how his answer went down but while thinking about the answer he is all over the shop.
The suit is a dead giveaway as it is the dress code of choice for a certain class of politician or barrister.
This is not good

View Comment

killiemadPosted on7:31 pm - Oct 17, 2012


CW on Radio Scotland: QThe old board were taking insolvency advice.”

Does this tally with anything Alistair Johnston has said? What about the oft-repeated line “The debt was opnly £18million, it was manageable?”

View Comment

pau1888Posted on7:33 pm - Oct 17, 2012


bangordub says:

Wednesday, October 17, 2012 at 18:32
———————————————————–
Naw, Take a seat, We have just been killing some time till you got back. lol

View Comment

macbraynePosted on7:40 pm - Oct 17, 2012


The suit a dead giveaway !

The man’s trousers were positively alight

View Comment

timalloy67Posted on7:46 pm - Oct 17, 2012


If Mr Green is to be believed ( I Know…) about £17m pledged, may i suggest the first thing purchased from monies raised is a LIE DETECTOR …..
Also my alter ego “Timalloy” is glad to see his Ostriches are well and going strong…

View Comment

justiceintegrityPosted on7:55 pm - Oct 17, 2012


Rangers FC = A financial basket case 😉

View Comment

angus1983Posted on8:01 pm - Oct 17, 2012


bangordub says:
Wednesday, October 17, 2012 at 19:31

… while the interviewee blinks, looks all over the room except at the interviewer while he answers questions.
——

Well, he’s nae a bonny loon. I think his eyes just do that by themselves.

I wonder if he can do that thing where you pop your eyeballs out of their sockets? He always looks like his eyes are away to fall out. Quite disconcerting to watch once you’ve got that thought in your mind, really. If he gets involved in a stare-down with D&P, CG, or anyone else, I know who my money’s on.

Seriously, something’s not right with all this. CW’s sudden appearance shouldn’t be taken at face value, shirley.

View Comment

nowoldandgrumpyPosted on8:03 pm - Oct 17, 2012


So is this a sponsor for TRFC or a Shirt being sold for the benefit of a charity?

http://www.sportsdirect.com/umbro-rangers-pink-shirt-2012-2013-377320

View Comment

midcalderanPosted on8:12 pm - Oct 17, 2012


nowoldandgrumpy says:
Wednesday, October 17, 2012 at 20:03

So is this a sponsor for TRFC or a Shirt being sold for the benefit of a charity?
———————————
Sooo lovely in pink. The RFC fans will buy. The lady fans may also buy it!!

View Comment

taxlawplebeianPosted on8:18 pm - Oct 17, 2012


Just finished watching Craig Whyte’s interview and if someone could confirm this; did I not hear Chris McLaughlin say that “just recently, Rangers have received the big tax bill”?

Around 29.15 minutes into the interview

View Comment

john clarkePosted on8:21 pm - Oct 17, 2012


Edgar Blamm (@EdgarBlamm) says:
Wednesday, October 17, 2012 at 16:46

Thanks again for the tutorial and the link.. I’ll get the hang of it all presently.

View Comment

jonnyodPosted on8:22 pm - Oct 17, 2012


taxlawplebeian says:

Indeed he does

View Comment

FIFAPosted on8:24 pm - Oct 17, 2012


The pink shirt,”Umbro”,has Charlie got 2 shirt sponsors ploughing loads of wonga in

View Comment

onceabhoyPosted on8:25 pm - Oct 17, 2012


Surely if CW’s assertion that he told ND & RT last October they were skint and admin was inevitable with chances of a cva slim, they had a duty to members to protect them financially in future dealings? Were they all informed and if not how many lost out financially as a result?

View Comment

john clarkePosted on8:25 pm - Oct 17, 2012


taxlawplebeian says:
Wednesday, October 17, 2012 at 20:18
—-
Yes, you heard it. But it was I think, a historical reference to the situation as Whyte was taking over. Not to the FTTT decision!!
It had me going for a second or two as well.

View Comment

neepheidPosted on8:28 pm - Oct 17, 2012


How long now before Sir David Murray and the yet to be knighted (some oversight, I’m sure) Mr Walter Smith re-enter the hallowed portal of Ibrox as saviours, wreathed in clouds of glory, with the cheers of the multitude ringing in their ears?

If anyone thinks that’s far fetched, all I can say is that nothing is too far fetched where TRFC is concerned. And the bears would just lap it up, you can bet the farm on that. Fantasy Island was a serious documentary compared to the “Rangers Saga”. You truly couldn’t make it up.

View Comment

obonfanti88 (@obonfanti88)Posted on8:33 pm - Oct 17, 2012


I believe Charles Green is on Scotland Tonight …….erm, tonight!

Should be interesting viewing.

SET PHASERS ON FUN!

View Comment

Leave a Reply