A recent autumn storm caused the destruction of the metal goal fame in our garden. The small goal with the weather-beaten net had fallen into disuse. But I liked it seeing it there on the grass. I suppose I half-expected, half-hoped, it would be used again. Once, it was a father and son thing and had been constructed carefully from a nice set of plans. At the time, it impressed both son and daughter no end. But that was then, this was now.
One of our trees, blown over by the recent high winds, caused the goal frame’s final demise. As I unscrewed the twisted metal I thought of the hours of innocent fun it had given us. It had been the scene of many goals and not a few great saves. My son, who is soon off to uni, smiled thoughtfully as I mentioned that this was the end of the ‘goalposts of childhood’. Perhaps he knew what I meant.
My own childhood goalposts had been ‘doon the back’. Drawn with chalk on the red brick of the ‘sausage wall’ at one end, and on part of the ‘wash hoose’ at the other. Many a league, Cup and international match was played out between those goals on the Dennistoun dirt. We once put on a parallel version of a historic England v Scotland match while the real match was being played at Wembley. Jim Mone sitting on one of the dykes had a transister radio to his ear. As we played our match he chalked up live score updates on the wall — our Twitter and FaceBook anno 1967. What a day.
We did use a pile of jackets up on the old Dennistoun cricket pitch, but only rarely. Mostly, we played on the red gravel surface at the Finlay Drive entrance. That pitch was fitted with real goalposts — like the ones they had at Hampden. Or so we imagined.
These sentimental memories of receding years accompanied my removal of the ruined metal goal frame. But, as you can imagine, it seemed an almost symbolic act. For fans of Scottish football the ‘goalposts’ that once defined the game of our football childhoods — have not only been moved, they’ve been been twisted and mis-shapen out of all recognition.
The past decades have seen a fundamental change in the way our game is run and governed, at home and abroad. Money is now king and sporting consideration is a luxury we sometimes have to put to one side — or at least, so we’re told.
At the risk of stating the obvious, sport, if it is to mean anything at all, has to be based on clearly defined rules and principles. These rules must be applied equally to all the participants, they are certainly not optional extras. However, to misquote and paraphrase George Orwell, ‘all teams are equal, but some teams are more equal than others’ — at least, when it comes to Scottish football.
The efforts by the SFA to re-interpret rules to fit the unfortunate circumstances surrounding the demise of Rangers FC in 2012 have left most of us scratching our heads. Much of the Scottish media has backed up the SFA’s efforts, something which has added to the general confusion and chaos. In fact, it’s become clear that the death of Rangers, as we knew them, has been such a traumatic event that it must be denied. The authorities and media seem to have been so besotted with one club that its loss is out of the question. And so, it’s been gifted a bizarre kind of immunity from liquidation and death that implies its on-going existence, long after it drew it’s final breath.
This situation has opened the door to a legion of businessmen on the make. They have been allowed to perpetuate the myth, with SFA blessing, that they ‘saved’ Rangers. And their unwavering message is, that they can only succeed if fans keep giving them their hard-earned cash. To those outside the blue bubble it looks like a huge con trick. If the only source of real money in football is the fans, then the Ibrox faithful have been royally fleeced.
How different it could have been if the former club had been allowed a dignified end. A year out of the game would probably have allowed fans to restart a newco of their own. They could have applied for entry into the professional leagues along with the other clubs waiting in line. Chances are they would have been given special dispensation, and walked straight into the bottom tier. Of course, they would have claimed to be the continuation of the spirit of the previous entity — but would anyone have argued against that? How different it could have been if the rules governing the game had been respected. The SFA may even have kept their dignity intact and the press not felt obliged to print half-truths, falsehoods and lies.
You’ve got to wonder why Dunfermline and Hearts fought so desperately to avoid liquidation. After all, the Scottish football authorities now seem intent on convincing us that liquidation has little or no effect on a football club. Even past sins, such as wrongly-registered players are as naught — if, at the time, they were thought to have been registered correctly. By this logic, we have to ask: if a ‘company’ running a ‘club’ bribes a referee, will retrospective action will be taken against the ‘club’. The players and the club, after all, will have done nothing wrong. And since the referee was not known to have been bribed, and not struck off, he was qualified to referee the match in question, at the time. Using the SFA thought process, the result would probably be allowed to stand. Personally, I’m not sure I follow SFA logic. They’ve ‘moved the goalposts’, and (you saw it coming) bent them into an unrecognisable shape.
Which brings me back to our garden. The old metal goal frame is waiting to be driven down to the local re-cycling centre. The twisted metal and worn-out net are useless. Ruined by forces beyond our control. There is no interest in a replacement at present. Perhaps, if we have grandchildren, they will show an interest in football. If they do, I’ll build a new set of goalposts. They’ll be straight and true, the way the goalposts of childhood should be. The way goalposts should always be.
Forfar Fans
Simply Red – Money’s Too Tight To Mention:
Money’s too tight to mention
I can’t get an unemployment extension
Money’s too tight to mention
I’ve been laid off from work, my rent is due
My kids all need brand new shoes
So I went to the bank to see what they could do
They said, sir, looks like bad luck got a hold on you
Smugas says:
January 17, 2014 at 10:37 am
“It was bad enough that a combination of David Murray’s voodoo economics and Craig Whyte’s lies destroyed the oldco. For Charles Green and his gang of spivs to pull the rollercoaster back up the hill and to try and do it all again beggars belief.”
No, for them to do so was understandable – their Normandy Chateaux are testament to that.
——
Indeed, for them to “try and do it again” was merely a bit cheeky (particularly given the crowds of people such as ourselves standing on the touchline shouting “you’re a bunch of con-men!” at the top of our collective voice).
The bit that beggars belief is that they got away with it.
Unfortunately, the Rangers support showed themselves to be entirely gullible. Mr Green and his cohorts missed a trick in that they probably thought they’d drained the last possible cash out of the blinkered support’s pockets. Unless, of course, they’re still standing in the shadows with those big hands still picking up the loose change.
Rangers are surely destined for middle-League football, at best, for the foreseeable.
I’d like to echo Southern Exile’s question re BDO apparently ‘gifting’ the Sevco/RIFC/RFC entities a slice of the Jelavic cash.
Can someone more versed in insolvency explain how such a scenario could come about?
My understanding is that a) BDO are duty bound to recover funds due to creditors of oldco and that b) Newco have no entitlement whatsoever to any Jelavic related funds – having never employed him or paid him a single penny.
Speculation by the eminently unqualified: would it be possible that BDO see some legitimate claim on an asset or asset of Newco and are providing a short term and welcome ‘cash injection’ in the hope of realising some greater sums for the creditors down the road ? Yes, I’m aware that this sounds very tenuous, but otherwise I’m truly mystified as to how this could be possible.
From the Daily Mail article:
“…the financial vandalism the so-called saviour of the club had reeked upon it…”
Typo of the month I think.
General Tilly says:
January 17, 2014 at 1:27 pm
I’d like to echo Southern Exile’s question re BDO apparently ‘gifting’ the Sevco/RIFC/RFC entities a slice of the Jelavic cash.
====================================================================================
Probably the Five Way Agreement – ask Regan or Doncaster for a copy !
Why is anyone under the impression that BDO have agreed to give up 50% of future sell-on fees?
didn’t D&P (administrators extraordinaire) agree to giving Sevco the rights to any income from any future sell on clauses, SPL prize money and a few other bits and bobs – i’m pretty sure if they had received everything that was “due” to oldco, CG green would have paid only 2.5M for the assets and not the £5.5M often quoted
of course, SPL withheld prize money, SFA demanded football debts were paid and prize assets walked away – leaving CG out of pocket on a number of fronts
btw, TSFM….now that CG is no longer involved (officially) in Sevco or the scottish game, any chance we can unblock the use of the word/name Chuckl.es
he was good entertainment and the name fits the clown.
Angus1983 says:
January 17, 2014 at 1:23 pm
“Indeed, for them to “try and do it again” was merely a bit cheeky (particularly given the crowds of people such as ourselves standing on the touchline shouting “you’re a bunch of con-men!” at the top of our collective voice).
The bit that beggars belief is that they got away with it. ”
=====
I gather from these pages and general info floating about the web that they may well be ‘getting away with it’ as much as they also ‘got away with it’.
The same bunch continue to have fingers in pies.
I had thought of the Jelavic scenario a wee while back, and requested if any info about his sell on was available. My comments are being moderated due to my rant about KJ the other night, so my timing is out and may be overlooked, and of course wrong, but that’s what I think it is. The much hated by HMRC creditors thingy. Just wrong if it is the reason.
“Not The Huddle Malcontent says:
January 17, 2014 at 1:35 pm
0 0 i
Rate This
didn’t D&P (administrators extraordinaire) agree to giving Sevco the rights to any income from any future sell on clauses, SPL prize money and a few other bits and bobs”
Not The Huddle – not sure if your post was a direct response to my post immediately before it . My point was really that as far as I am aware (always prepared to be corrected), BDO didn’t give anything up.
General Tilly says:
January 17, 2014 at 1:27 pm
I’d like to echo Southern Exile’s question re BDO apparently ‘gifting’ the Sevco/RIFC/RFC entities a slice of the Jelavic cash. Can someone more versed in insolvency explain how such a scenario could come about?
My understanding is that a) BDO are duty bound to recover funds due to creditors of oldco and that b) Newco have no entitlement whatsoever to any Jelavic related funds – having never employed him or paid him a single penny.
Speculation by the eminently unqualified: would it be possible that BDO see some legitimate claim on an asset or asset of Newco and are providing a short term and welcome ‘cash injection’ in the hope of realising some greater sums for the creditors down the road ? Yes, I’m aware that this sounds very tenuous, but otherwise I’m truly mystified as to how this could be possible.
==========================================================
I don’t think I have ever thought about a Jelavic sell-on clause or even where the money would go. But as his contract was with oldco and obviously an asset then it would be part of what Green bought from D&P when his consortium purchased Rangers.
When you look at everything Green’s mob got and might have had for their purchase money like selling the players who walked then it really was the Deal of the Century and who knows what other little tranches of loot have found their way to Ibrox and hastily re-diverted. Who knows what assets the Spivs have or have disposed of – legitimately of course ❗
But it looks as though the Rangers creditors were stiffed on the Jelavic sell-on fee as well as everything else. All that was left for them was a mountain of debt and everything of value went to Green except for a few brave souls who walked away.
As to the BDO 50/50 split then that sounds to me like a working arrangement to prevent having to be embroiled in legal action over issues like the Jelavic sell-on which would see legal expenses gobble up the amount involved in most cases.
In any case I think BDO are interested in bigger sums and also keeping their eye firmly on their main target which might be extracting a lot of money from individuals and also involving the criminal courts rather than the civil ones. But perhaps I’m just a dreamer 😉
Campbellsmoney says: January 17, 2014 at 1:31 pm
Why is anyone under the impression that BDO have agreed to give up 50% of future sell-on fees?
——————————————–
I don’t know the source of the “sell-on fee” claim, but BDO seem to expect to receive the final instalment of the Jelavic transfer fee, in full, in May.
From their last Liquidators report (Nov 13)
Book Debts
Since our last report, a further £995k has been received in respect of book debts, principally the penultimate instalment of £975k in relation to the transfer of Nikita Jelavic. The Joint Liquidators anticipate a further £1.058m being received from this source by 31 May 2014.
Forfar Fans
Beastie Boys – The Skills to Pay the Bills
I’ve got the skills to pay the bills, ya
I got the got the got the skills to pay the bills
I’ve got the skills to pay the bills
Ah what you got, I got the skills to pay the bills
http://static.bdo.uk.com/assets/documents/2013/05/RFC_Report_to_Creditors_22_May_2013.pdf
http://www.bdo.co.uk/__data/assets/pdf_file/0004/118993/Rangers-Creditors-Report-15-November-2013.PDF
I’ve now found the source of the sell on fee agreement. It was in the BDO report to Creditors in May.
Book Debts
Following our appointment, we were made aware that the purchaser of the business and assets of the Company (“Newco”) had asserted claims over a number of the outstanding book debts. Other than the sums due in respect of the transfer of Nikita Jelavic (two payments of £975K due in May 2013 and 2014), Newco advised that it considered that all further sums due to the Company had been acquired under the terms of the sale and purchase agreement entered into by the former Joint Administrators. These debts included crystallised sums of £504k, with potential further amounts arising in respect of sell on clauses in various contracts (“the contingent debts”).
After taking legal advice in respect of the Company’s entitlement to the debts, and to avoid the costs and risks involved in determining the matter through litigation, we ultimately reached agreements with Newco whereby all sums relating to debts known to be due would be retained for the benefit of the liquidation estate (£504k) and any sums arising in respect of the contingent debts will be split equally between the Company and Newco.
EDIT: See EJs post above and ignore below
EJ
Bear in mind that’s the transfer fee referred to. The 50:50 split allegedly relates to a sell on clause now activated by Jelavic’s transfer to Hull. Whilst Eco’s suggestion is plausible I would have thought the clause would have been attached to the transfer agreement, as opposed to Jelavic’s original contract with RFCold in the same way that Rapid’s interest in the player on his shift to Everton presumably wasn’t in the players contract either, but attached to his transfer agreement in? I’m struggling to square why DP were obliged to pay out Rapid (at a reduced rate incidentally) but that BDO would give away half the outgoing clause?
– are you saying that the original contract that Jelavic had that CG bought already had a clause in it regarding sell on profits, never mind the profits in the event that the seller was in liquidation?
m.c.f.c. says:
January 17, 2014 at 12:50 pm
First and maybe Last
Just noticed that my BT broadband entitles me to watch my first ever Rangers match and possibly the last Rangers match ever on BT Sport or TV of any kind . I’m tempted – just to hear if the Forfar fans come up with any good accountancy songs.
=============================================================================
“…any good accountancy songs…?”…the preverbal contradiction in terms, shurely?
Tell you what though, if you want to hum the melody, I will improvise on the lyrics…!
I thought Sevco paid Rapid at the reduced rate as part of the football debts?
Thanks scottc and Allyjambo – that is clear enough.
However there is no question of this being a “gift” by BDO. On the face of it, Newco bought that contingent debt and while BDO appear not to have liked it, after taking advice on the legal position, they have come to the conclusion that litigating the issue (remember Jelavic might never have been transferred to Hull) wasn’t worth it so they came to a compromise. At a stroke, they have achieved a 50% return to Oldco creditors out of an asset to which, on the face of it, only Newco had a right (having acquired it from Oldco(in adminstration)).
Heading off to work in a few minutes so just wanted to say that what little I’ve read of GW’s interview with the redoubtable Jackson leads me to ask; If TRFC are not in danger of going into administration, why are the players, and anyone else, being asked to take a wage cut? If there is no danger, and the board merely want to make things better for the shareholders, why should any employee take a cut? Without the threat to the club of administration there is no incentive for the players to take a cut, as Wallace is saying publicly that the club is in no danger. I know that I, even if I cared for the club, or business, wouldn’t take a cut just to make those at the top more comfortable, but if I thought the business would fall into administration if I didn’t, I’d take an entirely different view.
2. Angus1983 says:
January 17, 2014 at 1:23 pm
Unfortunately, the Rangers support showed themselves to be entirely gullible. Mr Green and his cohorts missed a trick in that they probably thought they’d drained the last possible cash out of the blinkered support’s pockets. Unless, of course, they’re still standing in the shadows with those big hands still picking up the loose change.
————————————————————————————————————————-
Nail hit on head……………
i happen to be in our Edinburgh office today, not been in for a while. Was just speaking to a guy who is a senior consultant and big Rangers fan. hadn’t spoken to him since last December. The conversation i had with him and another guy, an actuary from the office, was in Dec 12 when they were buying into the IPO. i told them to check out Charles Green and Sheffield Utd or Charles Green and previous AIM IPOs. Neither could see the problem and both bought shares. Both of these guys are intelligent men who certainly outearn myself. I couldn’t convince them.
I’ve resisted the temptation to rub it in. I have more important things to worry about.
Campbellsmoney said at 2:15 pm
Thanks scottc and Allyjambo – that is clear enough.
However there is no question of this being a “gift” by BDO ———–
__________________________________________________________
Yes, ‘gift’ was my unfortunate choice of word back there. I had meant in the sense of them handing over cash to Sevco/RIFC to which I didn’t think they were entitled to.
I had completely forgotten all the shenanigans around the so called ‘football debts’ (as if all the debts run up by a…..ermm……’holding company’ ‘operating’ a football club are not all football debts).
Thanks to all who clarified this issue.
There would seem to be a penchant for the phrase ‘I can categorically assure you’ in G51 at present. I don’t like to be picky but the only categorical assurance which can be categorically assured is that you die. 🙁
And so sayeth the soothsayer.
scottc says:
January 17, 2014 at 2:01 pm
—————————-
Scott
Thanks for tracking down the answer to my question this morning.
A bit wimpish by BDO I must say. They will be invoicing Everton and receiving the dosh, in Mr Cohen’s shoes I would have been telling newco see you in court pal!
New CEO, same old financial problems and the MSM lining up behind McCoist.
@STVRaman – re money spent on players’ wages, McCoist says he shouldn’t be held accountable for this, other perhaps.
@ STVRaman Ally McCoist says he “100% backs” the players decision to reject a 15% pay cut.
Not sure Ally realises he is the “manager” of the players and the one who wanted to sign them all. Taking £800k a year and no responsibility.
FFS TRFC are doomed if this how they approach a problem.
I can’t see Wallace hanging around if he is to be publicly stymied in this fashion. Rangers might be minus a CEO by the end of the transfer window,
56 registered players – is this correct – fifty six full professional registered players – to win League One ?
From KDS:
THIS IS GENUINE
Sent to my cousins company
From: Kieran Cannon
Date: 14 January 2014 14:21:25 GMT
To: “>
Subject: Rangers FC Opportunity
I am contacting you today with a marketing opportunity at Rangers Football Club. My name is Kieran Cannon, I look after the Commercial side at the club and your company has been identified as one which we would like to work closely with.
Until recently all of the availability for advertising and marketing at the club has been sold out for this current season and next. However yesterday one our main sponsor’s contract came to an end and instead of accepting their renewal we have decided to work with 5 local businesses within Glasgow.
The reason your business has been shortlisted is due to the classification in which it comes under and the lack of current advertisers we have from your industry. This means that you have the chance of being the only company from your sector advertising in front of an average of 45,000 loyal fans week in and week out, not to mention the 800,000 which would see your advertising on Rangers.TV.
I would like to talk to you further about this opportunity and show you the community driven packages we have developed to make it more cost effective for a local business to get a Worldwide brands response.
We want to make a point with the 5 business we bring on board with this unique opportunity to prove how effective this means of marketing is and we also want your business to grow with our club.
I look forward to hearing from you soon.
Regards,
Kieran
Kieran Cannon | Commercial | Rangers Football Club
Rangers Football Club, Elonex Sports, Ibrox Stadium, Glasgow, G51 2XD
T: +44 (0) 871 222 3456
M: +44 (0) 7852 194486
E: kcannon@elonex.com
http://www.rangers.co.uk
One for the Forfar the fans… – http://www.youtube.com/watch?v=jtnqNEmvb1o – the first few lines are most apt 😀
OT
Good accountancy songs … I know one!
Hungarian rock band “Omega” – I saw them at the Puskas Ferenc Stadion a few years ago, they have Rolling Stones type status over there, one of the biggest shows I’ve ever seen – had a song called “A konyvelo alma” – “An Accountant’s Dream”, about a 40-year old balding accountant who goes home at night and dreams of being a rock star. 🙂 Good stuff too, in a 70s almost-prog-rock sort of way, but much better in the original Hungarian than the translated English version they released.
Austerity Check
Rangers are still recruiting:
http://rangers.co.uk/club/recruitment/jobs/item/3495-security-stewarding-opportunities
http://rangers.co.uk/club/recruitment/jobs/item/3494-rangers-retail-opportunities
Finger on the pulse Mr Wallace ? Every avenue being explored Mr Wallace ? Reviewing every detail Mr Wallace ?
torrejohnbhoy(@johnbhoy1958) says:
January 17, 2014 at 2:59 pm
0 0 Rate This
From KDS:
THIS IS GENUINE
Sent to my cousins company
From: Kieran Cannon
Date: 14 January 2014 14:21:25 GMT
============================
Whatever happened to the Scottish education system, the envy of the world (or so they told me)? That is a sad, sad indictment of the world we live in today.
torrejohnbhoy(@johnbhoy1958) says:
January 17, 2014 at 2:59 pm
“… not to mention the 800,000 which would see your advertising on Rangers.TV”
—-
Shurely “5 million”?
neepheid says:
January 17, 2014 at 3:10 pm
Whatever happened to the Scottish education system,
—
Mr Cannon appears to have been educated in America, and worked for “My Lookalike Doll” (possibly one of the most disturbing items you can buy) before taking the blue shilling. I’m sure he’s a lovely chap, though. (LinkedIn, publicly available info. 😉 )
Only you don’t work for Rangers do you Keiran? You apparently work for Elonex, a sports franchising operation from what I can make out. Also, I’d suggest you don’t go making bold claims like “I look after the commercial side of the club.” You never know what might come back at you on that front.
Accountancy songs……? Lack of Money songs……..?
Shirley Bassey…………Big Spender.
Abba…………..Money money money.
Dire Straits …….Money for Nothin’.
Simply Red …….Moneys too tight to mention.
Killing Joke……Money is not our God.
The Who………..Did you steal the Money?
Steve Miller Band………Take the Money and Run…..
Pet Shop boys……….Opportunities (Lets make lots of money).
And many more.
After reading the Motherwell Billionaire’s Spokesman’s interview with the Chief executive of Newco, I could’nae help masel thinking about Karen Dunbar………..”I smell Sh**e…..” Or is it JI we can smell?
m.c.f.c. says:
January 17, 2014 at 3:09 pm
0 0 Rate This
Austerity Check
Rangers are still recruiting:
http://rangers.co.uk/club/recruitment/jobs/item/3495-security-stewarding-opportunities
http://rangers.co.uk/club/recruitment/jobs/item/3494-rangers-retail-opportunities
Finger on the pulse Mr Wallace ? Every avenue being explored Mr Wallace ? Reviewing every detail Mr Wallace ?
=========================
maybe they feel there will be an increased need for crowd control in the near future….to protect the assets!!
torrejohnbhoy(@johnbhoy1958) says:
January 17, 2014 at 2:59 pm
-“…advertising in front of an average of 45,000 loyal fans week in and week out, .’
—–
“Week in week out ” means every feckin week!
Looks like our Kieran has picked up the careless, possibly duplicitous, possibly conman use of language that the Ibrox environment seems to adopt naturally.
Does the new club not play away games at all, in front of crowds considerably less than this false claim promises?
Shall I write to ASA? No, because they themselves are of the same stamp-wouldn’t know truth if it kicked them in the arse.
Can it just be me, I wonder, or are the world and his wife natural falsehood spinners, at every turn?
Cannon-I’d fire you if I could!
SouthernExile says:
January 17, 2014 at 2:48 pm
SouthernExile, I cannot see this as being a bit “wimpish” by BDO. If it is correct that Newco bought the rights to this debt then only they have a right to collect it (assuming they have intimated to the relevant debtor that they have acquired this debt). If I am correct it won’t be BDO that are issuing the invoice – it will be Newco. That being the case, what would you have BDO do?
I have lurked for a while on here and have often seen criticisms of what BDO have done (or more often what they haven’t done). I would be tempted to say that the analysis should be “what they haven’t done yet” (with the strong emphasis on the “yet”). The fact that they haven’t yet done something does not mean they won’t.
The Oldco insolvency has been one of the most complex in Scottish insolvency history. It contains many elements that simply do not appear in 99% of “normal” insolvencies. No one should be surprised that things are taking time to unfold.
Campbellsmoney says:
January 17, 2014 at 3:36 pm
I’m hoping that BDO agreed to this particular deal, in order to avoid wasting time and resources on a relatively trivial side issue, which could muddy much bigger issues down the road.
There are miles and miles to go before oldco sleeps
http://uk.linkedin.com/in/kieranjcannon
Kieran Cannon
Advertising Sales at Rangers Football Club & Elonex Sports
Kieran Cannon’s Overview
Current
Commercial Sales at Rangers Football Club / Elonex Sports
Past
Managing Director at My LookaLike Doll Ltd
Key Account Manager at Yell Group
Education Greenville University, Chicago, IL
Boclair Academy High School
Connections 319 connections
==================================
The support won’t like this associate
Nicola Kinnaird
Celtic Football Club
46. Cygnus X2 says:
January 17, 2014 at 4:52 am
Problem = Rangers have far too many players in their squad and need to cut costs.
One possible solution would be to send players out on loan.
SPFL ‘spontaneously’ change their rules to allow clubs in Scotland to take 2 players on loan from any other club.
Any connection?
========================
No, not really unless the SFA are thick (which mind you could be true). These guys are on big wages – even their youth players will be on huge wages compared to other Scottish teams’ youth players. The only way the loaning club can save money is if the loanee club (e.g. Motherwell) pay the bulk of the wages.
You might suspect the likes of McCall and Buthcer have some lingering love of the old club to want to help them out but their respective club directors won’t want to see money wasted on players who they don’t really need, especially while equivalent or better players could be brought in for less.
Tif Finn says:
January 17, 2014 at 3:40 pm
Appreciate its public domain, and linkedin is pretty open, but for young Kieran and Nicola’s sakes, gonnae just no
Re Rangers 56 full time players – Just for info and comparison purposes with the current situation at Hearts.
Hearts have 32 full time players with the current age breakdown as follows:
Age – No
29 – 1
27 – 2
23 – 1
22 – 2
21 – 1
20 – 7
19 – 3
18 – 3
17 – 8
16 – 4
Campbellsmoney says:
January 17, 2014 at 3:36 pm
That being the case, what would you have BDO do?
===============================================================================
They could give some indication of direction, timescales and progress. An occasional update beyond the cryptic statutory six-monthly reports would give people less reason to believe they are as ineffectual/conflicted as the other august organisations tasked with sorting out this mess – all of which have let down Scottish football in a truly epic manner. BDO get some PR advise – outside Scotland.
I see Keith Jackson is scheduled for Sportsound Extra again this weekend. This follows a period of non-appearances following the Ibrox AGM, prior to which he had a free reign to push an extremely subjective agenda at a cost to the licence payer. The fact he has appeared again is a sure sign there is another agenda afoot that needs pushed into the public domain as often as possible. Putting Jackson on the BBC is akin to pulling out a punter from the Copland Road stand who feels confident enough to speak on live radio. Sadly we are all left to pay for it.
I see that McMurdo minor is walking both sides of the fence like a true magician. 100% behind the players, 100% behind the board’s cost cutting strategy
Scottish Football’s Janus indeed.
I don’t get it
Why ask the players to accept a 15% pay reduction, and then publicise their rejection ?
The risk is that the TRFC fans – or some of them anyway – turn on the players for being ‘greedy’, and not being ‘real Rangers men’.
And yet very soon these same fans will be asked to dig deep to buy much more expensive ST’s – so TRFC can continue paying for many of these ‘greedy’ players next season.
Confused.com
Apologies if posted already.
=======================
“AYR UNITED have confirmed they will appeal against the six-match ban given to Michael Moffat for breaching betting rules.
The 29-year-old striker was handed the punishment after being found guilty of breaking Scottish Football Association regulations which forbid any gambling on matches around the world.
Moffat was found guilty of placing seven bets on games involving his club but Ayr chairman Lachlan Cameron branded the punishment “grossly unfair” after comparing it to the ban given to Rangers midfielder Ian Black.
Former Inverness and Hearts man Black received an immediate three-match suspension for several betting offences including placing three bets on his then team not to win, something Moffat was not accused of – he had bet on Ayr to win…”
http://www.dailyrecord.co.uk/sport/football/football-news/ayr-united-appeal-michael-moffats-3032759
=====================================
Could this be the test case where Ayr’s appeal is based on unfair treatment because a player did not play for the Govan club ?
If – in the highly unlikely situation, you would think – the appeal is rejected could Ayr then choose to go to the Court of Session ?
Well ‘Rangers’ wasn’t punished for going down that route previously.
This could be a very interesting appeal…Bryson might have to be creative again for the SFA…
Campbellsmoney says:
January 17, 2014 at 3:36 pm
6 0 Rate This
SouthernExile says:
January 17, 2014 at 2:48 pm
SouthernExile, I cannot see this as being a bit “wimpish” by BDO. If it is correct that Newco bought the rights to this debt then only they have a right to collect it (assuming they have intimated to the relevant debtor that they have acquired this debt). If I am correct it won’t be BDO that are issuing the invoice – it will be Newco. That being the case, what would you have BDO do?
——————————
I was being a bit frivolous on a Friday afternoon, and certainly not questioning BDO’s integrity, but if newco was on sure ground it would not have waived 50% of its entitlement. The Everton FD may well have ended up with two invoices on his desk…I know which one I would pay in his shoes. So with the money in my bank I would dare newco to litigate and open up to scrutiny the ‘orrible can of worms that was the admin process.
Of course, as someone suggested above, BDO may have bigger fish to fry!
StevieBC says:
January 17, 2014 at 4:34 pm
If they start a legal fund, I’ll happily contribute, though the punishment in both cases was far too light
Remember these guys? Thought it would be of interest to someone ….
Fri, 17th Jan 2014 16:23
RNS Number : 9890X
Nova Resources Limited
17 January 2014
NOVA RESOURCES LIMITED
(“Nova” or the “Company”)
Potential Investment
Nova announces that the Company is in the advanced stages of making a potential investment. A further announcement will be made in due course.
Enquiries:
Nova Resources Limited +65 6236 2985
Chan Fook Meng, Chairman and CEO
Daniel Stewart & Co (Nominated Advisor & Broker) +44 20 7776 6550
David Hart / Alex Brearley
Blythe Weigh Communications +44 20 7138 3204
Paul Weigh / Halimah Hussain
beatipacificiscotia says:
January 17, 2014 at 4:43 pm
poission rouge
Refers to them selling off their stake in an Investment bank specialising in Sharia compliant business.
New Low From Sky
McCoist – Rangers not entering administration Sky Sports 15:08
http://www.newsnow.co.uk/h/Sport/Football/Scottish+League+One/Rangers
McCoist says nothing of the sort in the video clip.
I can wholly understand the frustrations of everyone sitting around outside the BDO tent waiting and hoping for a glimpse inside. BDO (like all liquidators) have a set of statutory duties to discharge. That includes reporting at various times. That does not include pandering from time to time to the merely curious (myself included believe me) or those who think, that because things don’t appear to be going the way they imagined or wanted, that BDO are part of a conspiracy.
Those duties also include certain duties of confidentiality. Not everything is appropriate for the public domain.
Think about the type of court actions that might come out of any of this. How would we feel if any such proceedings were prejudiced in any way because someone somewhere had earlier disclosed something unnecessarily. Now imagine if it was the liquidator’s office that did that and that proceedings had to be dropped. The screams of “FIX” would deafen us all.
I keep hearing about GW just needing to cut enough to get to ST renewal which might be early and might be hefty….but how many I wonder will choose staggered payments and how many will not renew?
I wonder if they have considered recruiting an extra pair of hauns to burn they £20 notes somebody mentioned earlier?
With Rangers players not being too enthusiastic about a 15% pay cut and all the doubts that entails, they can at least take some comfort that their manager is 100% behind them.
According to the BBC Ally McCoist is certain that the players in his squad and indeed the fans who support them are not to blame for the current financial woes.
He has a point, though surely it would be better endorsed by giving 110% support.
Joking aside the implications of any company suggesting a pay cut across the board to a section of their staff are very serious indeed.
Mr McCoist may well have his own ideas as to who is ‘responsible’ but would rather not say.
The inference being that those ‘responsible’ are to blame.
We’ve been here before.
Taking responsibility for any enterprise would naturally involve the reconciliation of income with expenditure. In the case of a football team an injection of realism into fans expectations would be something worth pursuing however resistant you may find them.
Mr McCoists views may sit well with some of the Rangers support simply because it meets a desire for something or someone to be wrong and essentially to blame for Rangers woes.
The reality is that there is nothing wrong, given their fan base Rangers ought to be a reasonably successful Scottish club.
However.
Driven by a ridiculously well funded desire to be totally dominant in Scottish football and challengers in the European Cup Rangers fans lost sight of a more realistic appraisal of their fortunes.
The lavish expenditure on their team of choice brought a degree of success but something of an anaesthetic to forward thinking.
Taking everything unsustainable away, the team on the park can only ever be that which their fans are willing to fund through buying tickets, merchandise, TV subscriptions and presumably being statistically susceptible to a degree of advertising.
The cost cutting necessary at Rangers may ultimately look like administration in all but name, but from a supporters point of view it amounts to the same thing. The team they support is likely to be diminished.
The proposed cuts in team expenditure are unlikely to vanish at the first refusal. Personally I was surprised that a15% cut was considered sufficient in terms of making the necessary cut backs on the playing staff. Significantly larger amounts would seem appropriate not just to the playing staff but throughout the entire set-up.
It looks like that’s all in the near future.
Rangers fans will have to acclimatise by degrees.
Baby steps.
Campbellsmoney says:
January 17, 2014 at 5:14 pm
===============================================================================
Very reasonable – but as you said yourself earlier: “The Oldco insolvency has been one of the most complex in Scottish insolvency history. It contains many elements that simply do not appear in 99% of “normal” insolvencies.”
Amid these exceptional circumstances there is a genuine fear, not just suspicion, that by the time BDO go public, cash and assets will have changed hands so many times and be dispersed so widely that it will be impractical to unwind anything or recover anything.
In these exceptional circumstances, I believe BDO have a duty to reassure the public that they understand that time is of the essence and that publishing an “oh well, nothing we can do” report in several years time is not satisfactory. I don’t see that such reassurance need prejudice their work in any way.
BDO, get some PR advice.
TSFM,
Have I had a post surgically removed?
Ladies and Gents ….
The art of modern management ….. “This is more of a conceptual discussion about the possibility of some sort of reduction to see if such a plan would be supported by the players.”
Just at the time when the Rangers need some honest and strong leadership , we are treated to the above conceptual discussion on a wage cut , I have heard some management BS over the years talk about a conceptual pay increase though!!
Seems to me that the lifeboats have been located, life-jackets located, and the captain is clearing his throat , just prior to the abandon ship message.
The current situation cries out for leadership in the boardroom and from the fans groups …. it seems however that years of adopting a fore-lock tugging tendency has knocked the thinking and stuffing out of the Rangers support.
Contrary to popular belief that somehow the Rangers will just somehow carry on by selling the ground, get a loan from the SFA, get a loan from a wealthy backer, I am starting to believe the opposite …. there are decent odds that they may go down again …… I think it is reasonable to assume that the financial position is much worse than is publically being admitted and that they are running on vapour with the access to the £2.5M loan facility already tapped up –
The only sensible course of action for the Rangers fans is to boycott the season tickets and force the current club to go into liquidation again, knowing full well that the SFA will leave the back door open.
Seems to me that the current board are ineffectual and will not stand up to the old-Rangers guard (playing and non-playing) who by not co-operating in a sensible cutting your cloth exercise , are becoming a parody of the non-thinking culture which under-pins the club, and are steering the ship straight onto the rocks.
The Rangers fans need to wake up and start the club afresh away from Ibrox, and Murray Park and the infestation of stupidity which is hanging around. This assumes that there are sufficient sensible Ranger fans motivated to do this , alas the SMSM will keep the majority of Rangers fans in a state of ignorance for their own (SMSM) commercial gain and the vicious downward spiral continues ………
If there is a boycott then club liquidated , restart after a 12 month break at a non-Ibrox playing ground
If there is no boycott then the training ground sold, squad halved , top wage £500 per week, sale and leaseback of Ibrox to keep the ship afloat for another 12 months.
The fight over keeping the squad together is key if Ally wins then Rangers are goosed and history will note his (and Walters) part in killing their own club ………. still expecting some transfer speculation on Rangers players moving away this weekend and a few stories of a few finding it hard to settle in Scotland and needing regular football ……..
It is so serious the SMSM play decide to ignore it for a bit , until the cards fall …
I wonder when Super Salary will finally get his pay cut
From an interview today, exactly 2 minutes in
http://sport.stv.tv/football/clubs/rangers/260726-ally-mccoist-backs-rangers-players-over-decision-to-reject-pay-cut/
Interviewer – “You’ve given a commitment to take a cut in your salary, can you confirm when that’s effective from?”
AM – “eeeemmmm as soon as the contract’s put in front of me I’ll sign it, but I’m assuming it’s done. The deal’s done and agreed so I’d imagine as soon as the contract’s in front of me I’ll do it.”
If I was an ambitious SPFL Championship or Premiership Chairman I’d have the Rangers CEO on the phone today:
“Aye, Graham. I understand you’ve got a problem with the wage bill that needs solving right quick and your peepil might be too expensive to move. Tell you what mate, you loan us Silly MacOverpaid there ’til the end of his contract next year and we’ll pick up half his wages.”
Suddenly, the experience gained from Mr. Wallace’s time at Manchester City — recouping any value from underperforming, overpaid players — makes his CV look a lot more attractive.
Heck, forget 15%, do it with enough high earners and you might be to achieve a 30-40% reduction in player costs. Surely ol’ Super won’t have any problem Returning to Our Proper Place with a team full of teenagers playing against his higher paid ex-players, no? Per Phil: “Administration in all but name.”
And the best part? The Bearzezez season books help subsidize their direct rivals. Could be a competitive SPFL Championship next season. 😳
Linkedin is open and people who put their details on it know that. They can choose to put on whatever details they want and leave out that which they don’t want to be public.
I’m really not sure why people seem to have an issue with that, the bloke has chosen to make certain details public. That is entirely a matter for him and I have no idea why anyone would object to it. It is not breaching someone’s privacy if it is the person concerned who is making the details public.
Re the DR is administration II a possibility piece of bovine excrement
Can anyone tell me when Ragers 1872 came OUT of administration and who bought them . 😯 😯
easyJambo says:
January 17, 2014 at 5:55 pm
From an interview today, exactly 2 minutes in
http://sport.stv.tv/football/clubs/rangers/260726-ally-mccoist-backs-rangers-players-over-decision-to-reject-pay-cut/
AM – “eeeemmmm as soon as the contract’s put in front of me I’ll sign it, but I’m assuming it’s done. The deal’s done and agreed so I’d imagine as soon as the contract’s in front of me I’ll do it.”
===================================================================================
Check out the body language – classic – red handed – pants down – inflagranti !
It reminds me of that classic Charles Green moment with Peter Smith re Dallas Cowboys – “I’ll show you the email right after this interview and you can apologise to me”.
1min 40 secs
http://sport.stv.tv/football/clubs/rangers/220759-charles-green-challenged-on-manchester-united-and-dallas-cowboys-claims/
Why did Sevco get a cut from the jelevic money yet got no final payment from Settanta when all other SPL CLUBS did
Could it be that CG bought the assets ( players ) but did not buy the CLUB .
(see ragers 1872 2nd place prize money ) 😯 😯
The Cull Begins
Mitchell Leaves Club Rangers FC – Official Site 17:54
http://www.newsnow.co.uk/h/Sport/Football/Scottish+League+One/Rangers
McCoist “Sadly we can’t offer him what he needs at Rangers and we thank him for his efforts and wish him every success in the future.”
It probably just never crossed their minds that there might be Setanta money to come.
In an article headlined “Now profiteers have disappeared let’s get back to real values”, Derek Johnstone cheers the departure of Richard Hughes and welcomes the involvement of Damille Investments:
“Hopefully they will help to drive the club forward both on and off the park.
…
Hopefully with certain individuals off the scene, things can be turned around.”
http://www.eveningtimes.co.uk/rangers/rangerscomment/dj-now-profiteers-have-disappeared-lets-get-back-to-real-values-148637n.23197956
Somehow, I think poor Derek is in for a big surprise. 😉
Andy Mitchell leaves…
http://www.rangers.co.uk/news/headlines/item/6024-mitchell-leaves-club
Keevins talking to a sevconian ❓ you will have to pay extra for season books if you want to prevent your club going back into administration 😆 that is after liquidation of course 😉 I think shug’s been hanging around with Neil Patey too much 😀
From the Graham Wallace interview in today’s Record
“This is more of a conceptual discussion about the possibility of some sort of reduction to see if such a plan would be supported by the players”.
Comedy Gold, I near choked on my toast laughing at this quote!!
Seriously though what planet is this guy on, he wants us to believe he is serious about reducing monthly losses of almost a million a month, getting the club back on a sustainable financial footing that will allow it to start repaying a debt somewhere north of 16 million to its parent company and the best he can come up with is sending Lee McCulloch in to ask the players if he can tap them for a few quid!!
I would love to know who is really pulling the strings and employing these guys on the board, the recruitment remit seems to be to find the biggest clowns with the least common sense. It’s almost as if someone wants them to fail…..
http://www.thefootballlife.co.uk/post/73628749994/the-end-again
On the potential of Admin, Sale and Leaseback and all that stuff that makes people feel warm at night
Sadly, for those hoping for formal Admin, I suspect the likelihood is, as suggested by the esteemed Barca, much lower than anticipated; Mr. Wallace isn’t lying. Hard to see how it would be of benefit to RIFC PLC to put their subsidiary into Admin since they’re the primary creditor who’d have to take a shave in any pence-to-the-pounds CVA. Admin would only be attractive if the extra legal powers (to break contracts?) are absolutely necessary to get TRFCL over the line to season book time.
Now, using the THREAT of Admin — “buy your books or else” — on the other hand…
(And to be clear: this wouldn’t be put out there by formal channels. They’d use surrogates in the media and fan groups. Clever really.)
What the Peepil need to remember is who Mr. Wallace works for: the shareholders, represented by the Board, of RIFC PLC. It’s their interests, not the customers of that company’s subsidiary, he has a fiduciary duty to serve.
What are they up to? Only a guess but it’s probably a variation on the plan that’s been discussed here and on RTC since the pre-IPO days: turning RIFC PLC into a property company. The current step is all about prepping TRFCL for sale:
Sell off high-earners if you can. (Unlikely.)
Mutually agree to terminate high-earners’ contracts if players can find an interested club willing to pay more elsewhere. (Unlikely, though slightly less so.)
Loan a few. (Not impossible.)
Subsidize loans for those not moved in one of the above ways. (See 5:56pm.)
Sell, or even mothball until you can, Murray Park.
Use high interest bridging loans to get to season book time.
Use the threat of Admin before the end of the season to make season book purchases a loyalty test for the Bearz. (The idea of 25 point penalty, without actually being tested, serves both your interests — perceived continuity and a possible threat to promotion — here. Again, well played Spivs.)
Use season book money to finance a series of redundancy payments that make savage cuts in the (non-Board Room of course) non-playing-staff of TRFCL.
And then, with the company closer to break even, a restructured cost base, and the season book money already in, complete the transfer of Ibrox from TRFCL to RIFC PLC in satisfaction of the internal debt with a pre-arranged long-term lease already safely signed.
By that time it should be the summer. There’ll be virtually no money in the bank, no assets left, a diminished squad, but an SPFL Championship ready “Rangers” that can be sold — again with the threat of Admin looming — to either the Real Rangurz Men, A Low-Calorie-Sweetener Daddy, or maybe even an actual fan consortium (fat chance). Financing a way through the 2014-15 season, let alone a return to the Premiership or Their Proper Place, is those peoples’ problem. Owning TRFCL means that they could go for an equity injection or debt financing model ’til Premiership level revenue returns at some point in the future. Promotion might – MIGHT – get delayed a year or two, depending on whether anyone is really willing to invest seriously to rebuild the squad after the next few months, but they should eventually get there.
Maybe RIFC PLC even keeps a minority percentage of TRFCL so that they can keep a board position or two for themselves — was that what the Easdales have always really been about? — and the perks that entails. It would help them keep an eye on their tenant.
So there you go: the Bearz who invested in Charles Green’s IPO will end up owning (a meangingless percentage of) shares in a company that is the landlord to the club they follow. All because the perception of dubious, unrecognized by most, continuity was too important to lose. Little Billy’s Christmas money and three rounds of season tickets will have financed the enriching of the Spivs who fleeced them and left their club an assetless husk of its former self with a much reduced playing squad (and maybe even in debt) in the SPFL Championship.
And I really think that’s their best case scenario at the time being.
Sound unreasonable to anyone?
timomouse says:
January 17, 2014 at 6:49 pm
http://www.thefootballlife.co.uk/post/73628749994/the-end-again
On the potential of Admin, Sale and Leaseback and all that stuff that makes people feel warm at night
==========================================================================
In footballing terms, the Easdales don’t have a pot to piss in. The idea that they have masterminded some debt-shedding, sustainable-club plan in laughable. The idea that somehow the costs of Ibrox repairs will go away under a sale/leaseback is also fanciful. Who was it that said that most difficult problems are easy to solve if you just ignore a few of the key aspects. Case in point,
C minus
must try harder.
As in life there are worse things than death, so in football there are worse things than liquidation.
And becoming a diddy team for the (hopefully short) foreseeable future in a country you once goose-stepped all over must be one of them.