Podcast Episode 5 – Hibs Takeover ?

Avatar By

WRT the “unbudgeted liability” mentioned in court I firstly wondered …

Comment on Podcast Episode 5 – Hibs Takeover ? by redlichtie.

WRT the “unbudgeted liability” mentioned in court I firstly wondered if it might be the ST cash pool that had been prematurely drained and now constituted a liability.

I then started thinking that it could be further share options that had come to light a la Stockbridge but the subject previously merited statements to AIM and we have not seen any further regulatory notice on this. Finding more of the same after what seemed a catagorical assurance that there were none would probably blow the enterprise sky high. (7 July 2014 : “…there are now no outstanding share options or convertible shares held within the Group. “)

Might it actually just be Ahmad’s payment/ring-fencing – maybe but that doesn’t seem to fit the situation we read about.

Rightly or wrongly I have the perception that this has come upon them both unexpectedly and recently. There is no obvious mention of anything like this in the documents relating to the share issue. Maybe I am reading too much into what little we know. It does however seem to be of some importance (and scale?) as it was raised in court and merited discussion. This is not McCoist’s outstanding Greggs bill substantial though that will undoubtedly be.

Whilst the ST situation may well be the answer, especially as they still seem to have some cash in the bank, could it possibly have anything to do with RR?

Have they very recently managed to use any of the frozen cash they noted was at the same time in their bank account but beyond their reach, this being accessed by some Wonga-style loan agreement with Ashley? Could the apparent takeover of RR by Ashley have triggered some onerous obligation(s) on RIFC?

Immediate repayment of any such loan? Have they had to pay off long serving staff, undertake a complete redecoration or make a major stock purchase? I still don’t understand some of the wording used to describe the sale of merchandise at cost plus 10% and how that applies in the course of their business.

In summary does Ashley now have them by the short and curlies?

What a pity there is no Rangers Press Office aye ready to answer these kind of questions.

Scottish Football thus needs a strong Neil Patey to put all our minds at ease.

redlichtie Also Commented

Podcast Episode 5 – Hibs Takeover ?
I’m actually disappointed that Keith Jackson didn’t develop his theory further and widen the Super Six to a Saviour Seven -including Peter Lawwell in the team!

With just a little bit of further thought Jackson could have happened upon the only thing that will increase Celtic’s competitiveness and remove that £10M annual loss.

I am of course talking about Celtic being demoted to the bestest ever in the world Championship. 😀

At a stroke you remove the need for RIFC/TRFC to spend, spend, spend to get out of a league where the unofficial handicapping system involves retention of their manager (have they not been punished enough?) and at the same time remove what may (only may!) become a monopoly in the Premier League.

Why has no-one thought of this before? Was this also a master plan at Tynecastle and Easter Road that has passed us all by?

Petrie be praised! 😈

Jacko – you have my formal consent to pinch this idea as well.

Scottish Football needs plagiarising sports writers unable to see that the light at the end of the tunnel is an oncoming train. (The train is probably off the radar too…)

Podcast Episode 5 – Hibs Takeover ?

Re Wallace/Nash and their apparent lack of due diligence I also recall claims from David Somers that he had no knowledge of the previous leading players.

Guess that’s what you get when you pay the Chairman peanuts.

BTW what’s the collective noun for this bunch? A Doozie of Dupes? I almost wrote “dupees”! 😀

Scottish Football needs to build on tonight’s performance.

Podcast Episode 5 – Hibs Takeover ?
ecobhoy says:
September 7, 2014 at 7:38 pm
Wallace may indeed be an honourable man and if he is IMO he made a terribly poor decision when he took the job at Ibrox and couldn’t have realised what he was walking into.

I’ve made some dumb career choices over the years but they were always taken with the limited knowledge that comes before the awareness that typically only joining a company can bring.

I don’t think that this can apply in Wallace’s case however as there has been no other basket case so held up to the light in recent years.

If Wallace was unable to discern what he was walking into then IMHO he is not up to much as a CEO.

Scottish Football looks forward to Episode #5088 of ‘Soap’ sometime on Tuesday in the Court in Edinburgh.

Recent Comments by redlichtie

Time for Scots Government to Take Bull by the Horns
“Dame Jessica Ennis-Hill to get 2011 world gold in London after Chernova decision
Dame Jessica Ennis-Hill will receive her record-equalling third world heptathlon gold medal in a ceremony at the World Championships in London – six years after the event in Daegu.
The 2011 result was confirmed on Tuesday after the Court of Arbitration for Sport (Cas) dismissed Tatyana Chernova’s blood doping ban appeal.
Chernova beat the Briton to gold in Daegu but her results are now annulled.
The Russian also won bronze medals at the 2008 and 2012 Olympics.
The 29-year-old has been told she must give up all three medals after twice testing positive when her anti-doping samples were later re-analysed. Her biological passport has also revealed years of blood doping.
World governing body the IAAF first stripped Chernova of her Daegu gold in November 2016 but the medal could not be reallocated until the appeal to Cas had been heard.
Several ceremonies to reallocate medals are expected to be held at the London World Championships, which runs from August 4-13.
Ennis-Hill, 31, announced her retirement from athletics in October but will now be able to celebrate her third world heptathlon title in front of a home crowd.”
                                 *                         *                       *
Other sports do the right thing – why not Scottish Football?
Scottish Football needs a strong Arbroath.

Time for Scots Government to Take Bull by the Horns
I apologise if someone else has already stated this, having been out of the loop for some time, but am I correct in now understanding that what I had assumed were five stars on the TRFC’s logo are in fact five asterisks?

A continuing and highly visible reminder of their cheating?

Scottish Football needs a strong Arbroath.

Time for Scots Government to Take Bull by the Horns
“In a statement issued to the Press Association, Sir David said: “I am hugely disappointed that the Supreme Court has upheld the decision of the Court of Session, reversing the decisions of the specialist tax First Tier Tribunal and the Upper Tribunal in this matter.
“The decision runs counter to the legal advice which was consistently provided to Rangers Football Club, that on the basis of the law and legal precedent at the time, the contributions made to the trust were not earnings and should not be taxed as such.
 “It should be emphasised that there have been no allegations made by HMRC or any of the courts that the club was involved in tax evasion, which is a criminal offence.
“The decision will be greeted with dismay by the ordinary creditors of the club, many of which are small businesses, who will now receive a much lower distribution in the liquidation of the club, which occurred during the ownership of Craig Whyte, than may otherwise have been the case.
“I have not had the opportunity to discuss the decision in detail with Tax Counsel, but will do so, particularly in light of proposed legislation, which will alter the tax position applying to loans made by trusts to employees. Once the impact has been assessed, a further statement will be issued.”
Just to emphasise, apart from ‘it wisnae me’, SDM says that there was a “liquidation of the club”.
Scottish Football needs a strong Arbroath.

Look Back to Look Forward
I’ve seen this phrase used by RTC and The Clumpany……””Rangers died because they lied”.

I’ve often thought that we should find some short soundbite to use whenever discussion with third parties turned to the Oldco/Newco situation. Especially those hard of thinking types…

I know that it does not cover all that went on but if we could start getting this soundbite into such discussions, including with the media, maybe that would help get the truth over.

Scottish Football needs a strong Arbroath.

Look Back to Look Forward
Slim et al….

I wonder which company/club issued these side letters? To my mind they may still have legal standing in terms of the indemnity contained therein.

If the issuing party is still in existence the player(s) may well have a claim on whatever assets or funds that are still lying aound.

Is that one of the reasons BDO sought leave to appeal? I puzzled over their apparent intention to spend dwindling money from the creditors pot.

Will the proposed tightening of legislation now force them to actually make such an appeal? Were they aware of upcoming changes to legislation?

Does that make an appeal now less likely?

This is potentially complicated stuff indeed.

Imagine the outcry if, after the upcoming court cases, BDO somehow finds itself the owner of Ibrox and MP with the assets then frozen as dozens of ex-players jointly try to force a sale so that they can cash in the RFC (IL) indemnity!

Scottish Football needs a strong Leicester (as an example of what can be done against the game’s big shots).

About the author