Imagine you are one of those people who have a nice big mahogany desk, with a gloss finish set in a big corner suite office which comes complete with a picture window, a break out area, a couch to lie down on in moments of stress, a quietly playing stereo sound system, fridge, plush carpet and loads of wee executive toy like things of your choosing.
Imagine, just for a moment, that outside your office you have the executive German car that is almost compulsory when you work in such an office. Added to that, you also have the benefit of a large six figure salary, a pension scheme, substantial holidays, a bonus scheme which nicely enhances your already excellent salary, fantastic perks and trips abroad as part of your job, and that you fill a position which leads to invitations to the most fantastic events, do’s, and sporting occasions imaginable.
Imagine the respect you must command from your peers, your family and friends.
Imagine the awe that you must be held in at dinner parties and social events when you are introduced to strangers for the first time– strangers who will have heard your name, and know of your position in society.
Imagine the personal and professional respect you must command from others in your field — or any other field for that matter — when you go to conferences and meetings in foreign cities and with foreign counterparts.
Imagine the envy that many others sometimes feel for someone who has succeeded in business and society to this extent.
Then imagine that the big office described above is at Hampden?
What a bummer!!
Now, I mention all of this because if you were one of the big cheeses at at Hampden, I wonder just what you do with yourself when the large rosewood door of your office closes behind you when you get in there each morning?
Maybe you make a coffee? Read the papers? Check the mail? Go to a meeting about the latest in 3G or is it 4G pitches being installed in a ground or two in the Shetlands?
However, no matter what you do and who you speak to THAT file is always there— always at the corner of your desk, neatly up there at the top left hand corner just beyond the desk top golf set and above the Newton’s cradle with the balls that spell your name or whatever.
That file– the one that relates to the finances, compliance, directors details and ownership of Rangers Football Club.
At least that is what the top of the file says. Though to be fair it is a continuation file… continuing from the one that was opened two months ago and is fit to burst already with reports, memo’s and letters- which in turn was a continuation of the one before that and the one before that and the one before that and on and on.
Maybe that is not the correct name for the club?
Maybe that is something that can be clarified at the next meeting with the Directors and CEO of the club— whoever they might be at that time?
No matter where you go in the room, you can see that file from every position. There is just no getting away from it.
Who owns The Rangers?
There are all sorts of reports, share prospectuses, memos, deeds, documents, contracts, letters, e-mails all asking the same thing. And there you are— none the wiser.
Please clarify this, please clarify that, are there any signed but unrecorded documents, or contracts?
Are the Companies House records accurate? is the Land register accurate?
At the end of the day you just lie on the couch, place a cold cloth over your head and hope it will all go away.
Then the accounts come out. Oh the figures are shocking and they confirm that most of the people you negotiated with to get their team playing football somewhere after the collapse and liquidation of RFC PLC have exited stage left with huge severance cheques.
They now live in France, or Singapore or the Cayman Islands and you can bet they will never darken a door in Mount Florida on a wet February morning ever again.
But that is not the worst of it — the bleeding internet is full of leaks— documents, letters, e-mails, contracts, company forms and all sorts.
You wouldn’t mind if the documents leaked were ones that you had seen before, but in the main they are things that you have never seen and never had disclosed.Every day someone calls and asks ” Have you seen the latest?” and of course you haven’t so you stand there feeling like a complete chookie!!!
Every day you call the compliance and monitoring guys:
” Eh have you seen this? Have you been notified that he is a director?”
” No boss – never seen that? Never knew it existed?”
” So who owns the company if that is correct?”
” Eh Dunno boss — not sure of anything over there any more!”
“Ok have you checked the titles with the lawyers?”
” yes but the title as registered looks ok, but there is no guarantee that it hasn’t been sold to someone else and they have not registered their title for the moment!”
” Have you spoken to the lawyers? Have you asked for clarification?”
” yes Boss — the Lawyers don’t really answer our questions– well at least not fully!”
” What about these accounts – there are 57 pages there – what do they tell us?”
” Well they tell us that the figures are not good, boss, but not immediately critical.”
” Are they paying their taxes?”
” Appear to be boss– but we can’t be sure.can we? We were told they were paying their taxes before and … well you know the rest.”
” Ok, but Pinsent masons rule out the Whyte guy being involved?”
” Ah well not really – they don’t go into the company he says he owns – they sort of ignore that part!”
” But they carried out an independent investigation, surely?”
” True boss, but the independent investigation was only into what the non independent guys wanted investigating Boss, and they appear to have finished their report without speaking to all the witnesses.”
” Ok but the accounts – what do the accounts say about Whyte being the real owner — I mean they are from Deloittes for God sake – they must make the position clear?”
” Well we have had a look at them boss and in that regard the accounts are King Kenny!”
” King Kenny?”
” Aye King Kenny Boss – with regard to Whyte’s claim they say ” maybes aye– maybes naw” and they leave it at that”
” Jesus, well have you written to the Directors?”
” Aye – half the letters have come back marked “Gone away”.Boss”
” Do you know who the shareholders are?”
” Naw Boss”
“Do they have a bank account and a bank reference ?”
” Naw Boss”
” Who’s coming to the next meeting from their side?”
” Dunno Boss”
” Is there anything you can tell me that lets me close this file and get it off my desk for good?”
” Naw boss”
” Well who did we grant membership to last year?”
” The first time or the second time Boss?”
” What do you mean – first time or second time?”
” We started out granting membership to one company and then changed it to another”
” Two companies – owned by the same people?”
” Dunno Boss– but they sounded the same.”
” And which one got a licence?”
” Dunno boss”
” What?”
“Was the licence not granted by Mr Longmuir boss? And then ratified by us as a formality?”
” Why are you asking me, you are the compliance guys?”
” Aye but we were told it would all be ok by … well by someone ….. and by Mr Longmuir”
” When did he tell you that?”
” Told us one day at Ibrox Boss – I think it was at half time?”
” Half Time?”
” Aye – though it might have been full time boss ….. free bevvy and sandwiches so can’t quite remember”.
” Well who has the paperwork?”
” Lost boss”
” Lost?”
” Yes Boss – it was meant to come up from the SFL but never appeared. Turns out that the SFL was run as an unincorporated body and none of its records etc, are intact or have ever been audited …… Boss. Mr Ballantyne might have them in his garage Boss! ……… Boss? ….. are you still there? Boss?”
The man in the corner suite leaves the phone dangling, goes to his fridge for a cold drink and switches on the executive plasma hanging on the wall by way of the remote control on his desk.
The screen beams into life and an advert for the brand of soft drink that he is holding fills the wall. The very same brand of soft drink that has just been announced as the official soft drink to partner Scottish Football.
The executive, looks at his drinks can, looks at the file on the corner of the desk, looks at the abandoned phone and finally looks at the screen just as the speakers spell out clearly ………….. the benefits of coming from a long line of Fannies.
This is Scottish Football Administration in the 21st Century.
All this talk of the SFA & Fit & Proper for King does not matter, He cannot be a director of RIFC as
The Solvency Service explains;
I was a director of a company in liquidation. Am I allowed to become a director of another company?
You can act as the director of another company unless you are subject to a disqualification order, have given a disqualification undertaking, are an undischarged bankrupt or are subject to a bankruptcy restrictions order or undertaking.
There are some restrictions that will apply. You cannot be involved in another company or business that has or uses a name which is so similar that it suggests that there is an association with the failed company. This restriction lasts for five years after the winding up and applies:
•if you were a director or shadow director (a person who gives instructions on which the directors of a company are accustomed to act) of the failed company in the 12 months before the winding-up order, and
•to any name used by the failed company in those 12 months.
– See more at: http://www.bis.gov.uk/insolvency/Companies/company-liquidation#14
Must be Friday …
http://www.dailyrecord.co.uk/sport/football/barry-ferguson-dave-king-returning-2360162
“I’d like to see him lead the club in a similar way to David Murray …”
Fud.
😛
Valentines,
The answer to that is simple. When the money runs out!
On SDM (HBoS) we rely
On Watty we rely (HBoS/LTSB – the latter for about 2 secnds after opening the file)
On CW we rely (Bank of never never)
On DK we rely on condition he keeps putting the money in AND we keep winning on the park. Either factor ceasing and I think you’d see bear led change PDQ.
Sugar Daddy says:
October 11, 2013 at 1:46 pm
Carfins Finest says:
October 11, 2013 at 2:39 pm
————————————
seems the bears are still ostriches.
* @enmac75 2h
@SonsofStruth king guilty on 41 counts.Pay back £46m or 82yrs jail time……is this someone fit for your club?
Sons of Struth @SonsofStruth 2h
@enmac75 think you’ve read the wrong reports AGAIN.
* @enmac75 2h
@SonsofStruth ok. http://www.politicsweb.co.za/politicsweb/view/politicsweb/en/page71654?oid=401431&sn=Detail&pid=71616 …
do you have a differernt report ?
* @enmac75 2h
@SonsofStruth genuinley looking for something that says different.for balance. since you are pro active, thought it would be of interest
Sons of Struth @SonsofStruth 1h
@enmac75 aye whatever. You keep being concerned about the Rangers.
* @enmac75 16m
@SonsofStruth not concerned at all.thought you were though.obviously not.
This is my reply from the press office at SARS, it’s clear from their response that the story from the SA business paper has been wrongly quoted. I think BRHT’s earlier post is probably correct.
Marika Muller (MMuller@sars.gov.za)
Add to contacts
15:31
To: eddie rice
Picture of Marika Muller
Hi Eddie
I am advised that SARS never alleged that King received R200 million income from Rangers.
The court papers are public (though not certain if available online) – what specifically would you want from them?
Regards
Marika
PS anyone with any specific request for info on the papers submitted to sars please post a question and I’ll include it in my next correspondence with Marika.
eddie rice says:
October 11, 2013 at 3:41 pm
==============================================
Eddie, I think that you and BRTH are probably right and Mr Chips spotted that Rangers/MIH was one of the items in Dave King’s spending spree. He managed to do this, apparently, with little or no income.
eddie rice says:
October 11, 2013 at 3:41 pm
“I am advised that SARS never alleged that King received R200 million income from Rangers.”
King didn’t receive anything from Rangers, the club, the company, or the whatever they were then.
I’ve not read the official documentation but if you ask Marika I’m sure I’ve read on numerous sites he had to pay tax on a payment of £18m (R284,871,402 at today’s exchange rate) from MIH.
King invested £20m took £18.5m out 🙁
Maybe its just a coincidence
That his mother the 3rd largest share holder at the time with £1.5m worth of shares 😉
http://www.thefreelibrary.com/THE+BLUE+WIDOW%3B+REVEALED.-a0210944037
Thanks for that eddie.
Apologies if this is old news but Charlotte Fakes account on twitter has been suspended.
Not “no longer available” or “no longer exists” or “this account has been closed” but “suspended”.
Another affirmation of the authenticity of the material?
http://twitter.com/CharlotteFakes
blu says:
October 11, 2013 at 3:00 pm
DOH!!! Had quick look but didnt see it!
Anyway here’s another wind up from Vinibhoy on twitter, https://pbs.twimg.com/media/BWTpoFjCQAAbNnB.jpg
Having been following today’s court case involving DAFC you can imagine I was more than a little alarmed to get these tweets:
Cara Sulieman @carasulieman 1h
Sorry- the administrators will place club IN liquidation on Mon if either no decision made today OR if judge decides in favour of petitioner
Cara Sulieman @carasulieman 1h
Judge will make a decision today – that’s what he’s off to do now. Will come back after a “short break”. No idea exactly how long
Cara Sulieman @carasulieman 58m
Lord Woolman has refused the petition from Gavin Masterton.
…and breathe. The Pars live to fight another day. Whether I’ll have stopped shaking by then is a different matter…
Seems like good news indeed @McCaig
Great news for the Pars.
The DAFC fans have been great throughout this.
Mr Masterton should hang his head in shame.
PhilMacGiollaBhain says:
October 11, 2013 at 6:03 pm
Great news for the Pars.
The DAFC fans have been great throughout this.
Mr Masterton should hang his head in shame
_________________________________________________
Gavin doesn’t seem to do shame…
Like Corsica1968, I also gave up on a long time season seat. I too have come to the conclusion that the tacit message coming from the football clubs in Scotland is that Scottish football, in their view, cannot survive without sectarianism. That of course is not to say that anyone involved at ANY Scottish club is guilty of being proactively sectarian, but if the people selling the goods are of that view, they will have to sell to someone else.
I do believe though that the vast majority of fans of all clubs do not subscribe to that view, and that through conduits such as this one we can slowly exert pressure for change. Sadly I think it is a waste of time to send explicit messages of disgust and disappointment (however heartfelt) to the clubs. Thy just do not speak that language. The language they do speak has £ signs in front. Ultimately the only way they will make sporting integrity paramount is if it coincides with maximum financial gain.
I have just read Corsica1968’s letter to the Celtic plc’s Chief Executive Officer..
It is a powerful piece, straight from the heart and mind.
In terms of its contents, it reflects, mirrors, much of my own state of mind and heart, though I doubt if I could articulate my thoughts and emotions quite so well.
I applaud him.
However, I think he is making a fundamental mistake in ‘handing back his scarf.’
This WHOLE blog believes that SDM was a pernicious influence in trying insanely to ensure that his club would be permanent top-dog in Scottish Football by ,essentially, cheating.
MANY believe, with some reason, that influential members of the SFA board were complicit in that cheating: certainly through negligence, and probably through complicity in sharing the ‘philosophy’ of SDM -that the now dead club had to be allowed to be above the rules, at all costs..
MOST football supporters believe that that complicity extended, through the 5-way agreement, to an appalling act of corruption, when all normal rules that should have applied to a new applicant for membership of the SFA were over-ridden in the greatest act of appeasement of a blustering, loud-mouthed blaggard ever seen since 1939.
The wrong-doing of SDM was ignored or colluded in.
The wrong-doing of CW was permitted through gross negligence.
The incredible shambles of a farce of an ‘Administration process’ was glossed over.
A seriously guilty club was not expelled from the SFA, as it should have been.
A brand new club , whose chairman and managerial staff ought to have been charged with repeated serious ‘ bringing the game into disrepute’ offences, was admitted to the SFA irregularly.( and continued to bite the hand that fed them!)
etc etc.
In the face of such manifold wrongdoing, I think that it is our duty -as sports-minded persons generally and as supporters of our individual clubs (which have all been victims of that wrongdoing) to stay in the field and BATTLE the corruption, negligence, complicity.
We are the only ones, working through our own club directors and CEO’s, who can bring enough power to bear( !) to enforce change. Our clubs listened to us before. We can make them do so again.
BUT, it is not, in my opinion, enough just to signify our discontent with our individual clubs’ apparent unwillingness either publicly to acknowledge the fact of the wrongdoing or to take public steps to tackle it.
Much the better thing to do would be to adopt the Celtic Trust’s method. This is aimed at getting at least their own Club to respond to a formal resolution at their AGM. Serious business.
I have no doubt that the Celtic Board , even as I speak, will be finding a formula which will allow them, in the longer-term interests of their shareholder, to accept the resolution, without it being seen as a provocative act.
A resolution that is not a mad-cap, straight- from- the- terracing- or- pub expression of fans’ anger.
No, it is a sober , thought-out resolution carefully framed in terms of UEFA legislation and the rights of clubs to challenge their National Association.
If other supporter groups would adopt the same stance, our clubs as a body would hear clearly, in a way that they could not lightly dismiss, the cry for urgent change in the SFA Board, and for an examination into just what exactly the present office-bearers’ relationships were/are both with the now dead club, and with CG’s illegitimate creation.
Rather than sending my memento of the 1951 St Mungo’s Cup game against Raith Rovers at Hampden Park (at which I was present!- a Wednesday afternoon game, btw) , I will be attending an AGM to listen to what my CEO has to say, encouraging him to say the right thing!
In a time when there is little if any good news flying around our game, it is overwhelmingly FANTASTIC to hear that Dunfermline’s future looks to have been assured.
Gavin Masterton’s lack of dignity on this issue has laid bare the lie that he was an altruistic fan who tried to shore the club up. It would be sensational if the club got a lift from this and begin to climb their way back to the top. Look forward to seeing the Pars back.
And congratulations to the fans who have worked hard to make this possible. As football role models go, they will be hard to beat.
Another from Cartuja, http://i43.tinypic.com/2evylq9.jpg 😆 😆
paulsatim says:
October 11, 2013 at 7:02 pm
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Another from Cartuja, http://i43.tinypic.com/2evylq9.jpg
———–
Lots of duck talk. Was that a cryptic Charles Green joke? That is, the non-blue duck in the Rangers store I mean.
* In more serious news, Ally is now confirmed as a threat to national security:
http://www.cowalcourier.com/rangers-manager-ordered-to-demolish-private-cowal-harbour/
Navy boycott in the offing?
https://twitter.com/CelticResearch/status/388706501210034176/photo/1
One for the Pars fans? Well done lads, by the way. A real credit to Scottish football.
neepheid says:
October 11, 2013 at 3:21 pm
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Finloch says:
October 11, 2013 at 2:57 pm
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paulonotini says: October 11, 2013 at 12:16 pm
Excellent read from Corsica1968 on Twitter.A letter to Peter Lawell & why he was returning his Celtic scarf given to him by his mother in 1976.
http://alzipratu.wordpress.com/2013/10/11/breaking-the-family-bond/
………………………………
A really intelligent, well written, insightful and touching valedictory gesture by Corsica 1968.
Was there a reply?
++++++++++
I came to the same decision as Corsica68 following the SFA AGM, which was the moment for me when all hope was lost. I also wrote a goodbye letter to Lawell, much less eloquently and much more angrily, I’m afrraid. If I ever get a reply, I’ll post a copy. But please don’t anyone hold their breath on that one.
______________________________________________________________________________
I too gave up on Celtic, mine was when the LNS verdict came through, I knew that was it for me. I obviously still want them to do well, but it will be without my support.
neepheid says:
October 11, 2013 at 7:16 pm
1 0 Rate This
https://twitter.com/CelticResearch/status/388706501210034176/photo/1
One for the Pars fans?
———
The likeness to Masterton is uncanny. Putin might be a bit miffski offski at the Vladimir Ogilvie comparison though — Putin accepts that the old Soviet Union died
Fr. Paul Stone @FrPaulStone 8m
Another damning Dave King article for @ScottishFA @clydessb @bbcsportsound to ponder. Don’t forget the facts now… http://www.iol.co.za/business/opinion/king-still-on-the-hook-for-insider-trading-1.1575272 …
MoM from Oct 10th meeting – interesting that Stockbridge refused to confirm the balance as of end of Sept.
Minute of meeting between the Rangers Supporters Association, Rangers Supporters Assembly and the Rangers Supporters Trust had a meeting with club Chief Executive Craig Mather, Finance Director Brian Stockbridge and Director of Communications James Traynor. Ibrox Stadium 10 October 2013.
Lord Vegetable @HenrikVegetable 6m
Minutes of meeting with C Mather and B Stockbridge #duckgate #zombieducks Minute of meeting between the (cont) http://tl.gd/n_1rpl8nj
More Dave King info………..
In terms of the agreement reached in the South Gauteng High Court, King pleaded guilty to the 41 counts and agreed to pay a fine of R80,000 a count, or R3.28m. He also agreed to pay R8.75m to the Criminal Assets Recovery Account within 30 days of sentence.
Fr. Paul Stone @FrPaulStone 2m
@macbloscaidh @MTHForum @JohnMcLean_HS67 @cohcfc Heres the facts –> http://www.bdlive.co.za/national/2013/08/30/mistake-not-to-co-operate-with-sars-says-dave-king …
Exiled Celt says:
October 11, 2013 at 7:58 pm
…
Lord Vegetable @HenrikVegetable 6m
Minutes of meeting with C Mather and B Stockbridge #duckgate #zombieducks Minute of meeting between the (cont) http://tl.gd/n_1rpl8nj
===============================
Extract from minutes above
[BS – Brian Stockbridge, and GL – G. Letham, fans rep.]
“FINANCIAL PROJECTIONS
…
GL – What was the cash balance at 30 Sept 2013 – can you give information
BS – you know I am unable to tell you that.
TG – you told us in August.
BS – that was the year end balance.
GL – the information I am asking is historical and not a forecast, and not price sensitive. You gave the June number before it came out.
BS – I had cleared that statement with the Nomad. Our audit cost £90k – three times what I’d have expected – the amount of scrutiny we are under meant the auditors demanded that.
(BS left the meeting at this time as he had another commitment)…”
===========================
Stockbridge makes a tactical retreat ?
And the Jim Traynor input on ‘media bias’ is something else: did he manage to keep a straight face?
Exiled Celt says:
October 11, 2013 at 7:58 pm
“..Minute of meeting between the Rangers Supporters Association, Rangers Supporters Assembly and the Rangers Supporters Trust had a meeting with club Chief Executive Craig Mather, Finance Director Brian Stockbridge and Director of Communications James Traynor. Ibrox Stadium 10 October 2013”
——–
Thanks for that post, EC.
Interesting to see that James Traynor , defender of press freedom and democracy, is in favour of banning selected former colleagues!
Otherwise, I’d guess that the fans at that meeting went away as befuddled as they had been before the meeting.
Exiled Celt says:
October 11, 2013 at 7:58 pm
2 0 Rate This
MoM from Oct 10th meeting
Minute of meeting between the Rangers Supporters Association, Rangers Supporters Assembly and the Rangers Supporters Trust had a meeting with club Chief Executive Craig Mather, Finance Director Brian Stockbridge and Director of Communications James Traynor. Ibrox Stadium 10 October 2013.
Lord Vegetable @HenrikVegetable 6m
Minutes of meeting with C Mather and B Stockbridge #duckgate #zombieducks Minute of meeting between the (cont) http://tl.gd/n_1rpl8nj
————
You’d think they’d all been coached by our friend Goldstein to expertly say nothing at all in response to the questions asked.
How many electricity bills does Ibrox get? MM says he paid one, I believe someone else (was it CG?) also claimed to have paid one…
Exiled Celt says:
October 11, 2013 at 7:58 pm
…had a meeting with club Chief Executive …
——
An awful lot of mentions of the “club” in that piece. Shurely they mean the “company”?
It has recently been noticeable that the club/company differentiation seems to have outlived its usefulness (i.e. the admin/liquidation hurdle has just about been left behind, with most people on the street now accepting unquestioningly that Rangers continues as it ever was).
All entities involved are now referred to in situations like this meeting as the “club”.
In the spirit of clarity, this is not on.
Danish Pastry – maybe Goldstein is not needed to coach them since he was there as the Communications (sic Propaganda) Officer.
Great to see now that the Peepil are flooding Twitter with – JT says so, so it must be true……….and of course directing it at Jim Spence! Could not make it up……………
VidmarFF @VidmarFF 40m
Interesting Jim Traynor – former BBC employee – confirms “obvious bias against RFC” within the organisation. @bbcjimspence
Re the minutes
Some real squirming on the Resolutions 9 & 10 section
Alternative pie fillings?
scottc says:
October 11, 2013 at 8:24 pm
…
BS –…Paid a £50k electric bill form my own resources…
How many electricity bills does Ibrox get? MM says he paid one, I believe someone else (was it CG?) also claimed to have paid one…
==========================
The Leccy company ‘duped’ them: they paid the same GBP50K bill 3 times, mibbees. 🙄
[And that could be the one case of a utility company overcharging that I would laugh about.]
StevieBC says:
October 11, 2013 at 8:43 pm
scottc says:
October 11, 2013 at 8:24 pm
…
BS –…Paid a £50k electric bill form my own resources…
How many electricity bills does Ibrox get? MM says he paid one, I believe someone else (was it CG?) also claimed to have paid one…
==========================
The Leccy company ‘duped’ them: they paid the same GBP50K bill 3 times, mibbees. 🙄
[And that could be the one case of a utility company overcharging that I would laugh about.]
***************
Maybe they are all joint account holders with Imrahan’s maw – in which case all of them can claim to pay one bill………..
Exiled Celt says:
October 11, 2013 at 7:58 pm
Minute of meeting between the Rangers Supporters Association, Rangers Supporters Assembly and the Rangers Supporters Trust had a meeting with club Chief Executive Craig Mather, Finance Director Brian Stockbridge and Director of Communications James Traynor. Ibrox Stadium 10 October 2013.
——–
Once again, Stockbridge blames the £14m loss on one-off costs.
Once again, I will point out that the accounts show (p22) that the £14m operational loss does not include the non-recurring items, which led to an additional loss of £4.261m.
jings, those pinsents fellas don’t come (to the required conclusion) cheap.
Can I just say that twice now I’ve been saddened to a level I would have doubted possible when I started reading way back on RTC, and by the same guy as well.
Stuart Regan’s main ‘reason’ for leaving ‘fit and proper’ status to the clubs is that the costs for the SFA to carry out such investigations would be too high for the SFA to carry out. How fortunate it is then that the South African Tax authorities, and judges, have carried it out for them in the case of Dave King.
I’m sure that those in King’s peer group don’t see massive tax fraud as in any way criminal but rather part of ‘playing the game’. David Murray and the rest in the Ibrox spivs will, undoubtedly, see it in the same vein. But you don’t get a jail sentence for not committing a crime, and it’s still a crime even if you have enough of your dubiously gained fortune tucked away to pay your way out of jail. He still faces possible charges for insider trading, another crime I’m sure his ilk consider acceptable, and there appears no doubt he made a fortune trading in shares that he had inside knowledge of, the problem is that, under SA law, the time the prosecution have to make their case may have run out. But if it hasn’t, then sometime soon he may be called to book, and more turmoil would hit TRFC, and Scottish football, if he was involved at Ibrox. I think the SFA should search Hampden to see if they can find some balls, there are some, I’m sure, and a modicum of sense, and do everything in their power to keep this latest fraudster out of our game.
On another note, I noticed Mather and Stockbridge played down King’s involvement saying they’d suggested he waited until TRFC debut (I think they called it return) in the top tier when they’ll be in need of his money. Sounds ever more like window dressing to me from Mather and co, though doesn’t rule out King’s return under his own steam or as part of the McColl/Murray/Murray thingy.
Interesting excerpt from last night’s minutes:
“CM – I’m not against that but we have to do things legally and properly. I’m happy to add to the dynamic on the Board. Dave King rang me and I was happy to meet and talk – I’m only interested in the future not past events. DK is not part of any team/conspiracy – he’s an individual who cares about Rangers. We had two days of very positive discussions with him and working with the existing team.
………I want Dave King on board for his historic knowledge of how the club works . I said we don’t need his cash now. When we get back to the top flight and to compete in Europe then we would welcome an inflow of cash.”
Craig Mather saying here they don’t need Dave King’s money now or any cash inflows until they’re back in top division & competing for Europe.
What’s the Scottish MSM getting all excited about Dave King’s possible return,investment & chairman position if as Mather says “we don’t need his money now” but maybe in c24 months time?
Can’t see them lasting that long without major investment.
http://tl.gd/n_1rpl8nj
Am I right in assuming that I previously read Corsica 1968 letter to Mr Lawwell quite some time ago ? This isn’t new I’m sure.
What is becoming obvious is the double standards of the Peepil
Last year we were told the big boy did it and ran away excuse – with the caveat that it was all SFA’s fault for not stopping CW taking over RFC-NIL when in fact SDM had done his investigation via AJ and Bain’s committee and despite what they found and with the connivance of Jack Irvine, covered up as much as they could and installed the billionaire. Cue a triumphant march down Edminston Drive amongst the Peepil amid questions from the MSM about how huge a warchest Ally could expect.
Once the warnings of Paul, Phil, RTC and CQN came to fruition, it was a nobody told us excuse.
Now DK is in the frame, all the Peepil are saying don’t you dare stop our new found billionaire.
Now the SFA are damned if they do and damned if they don’t – so am sure they will do the don’t.
DK was first on the scene after Feb 14 – came back prior to June CVA and was at a meeting in Zurich with the main players – he is involved with the prior bunch and will continue the feeding frenzy at the carcass along with the other vultures.
Sometimes people do deserve what they get.
paulonotini says:
October 11, 2013 at 9:34 pm
0 0 Rate This
Interesting excerpt from last night’s minutes:
“CM –
………I want Dave King on board for his historic knowledge of how the club works . I said we don’t need his cash now. When we get back to the top flight and to compete in Europe then we would welcome an inflow of cash.”
++++++++++++
A rough translation- Mather and Stockbridge begged King for an immediate cash injection, King said you boys are having a laugh, get the team back into the top flight and I just might be interested then, Enjoy the flight back.
pau1mart1n says:
October 11, 2013 at 9:09 pm
5 0 Rate This
jings, those pinsents fellas don’t come (to the required conclusion) cheap.
———–
£1m? That can’t be one investigation, surely?
Didn’t Charles say in one of the early audio releases that he had a contact a Pinsent? (Or was that Deloitte?)
“AS – Resolution 9 allows directors and employees amongst others to make a directors loan which is converted into equity at a nominal value of 1p per share. Nominated individuals can therefore acquire 6.6m shares for an investment of £66,000.
BS- We will pass that on to our lawyers and look at having that re-worded as that is not what is intended by this resolution”
This is the bit that caught me. They honestly expect anyone to believe that that clause slipped past the lawyers and wasn’t what they meant.
Seriously, how stupid do they think people are?
Oh yeah I forgot.
So BS has had to shell out another £400k to Pinsents since the £0.6M he declared in the accounts?
http://www.rangers.co.uk/images/staticcontent/documents/AnnualReport2013.pdf
P9
Joethebookie says:
October 11, 2013 at 9:49 pm
Regardless of what they pay though, the nominal value of ALL the current shares is one penny.
pau1mart1n says:
October 11, 2013 at 9:09 pm
”…jings, those pinsents fellas don’t come (to the required conclusion) cheap.’
——–
Did everybody but me (who didn’t until about ten minutes ago) know that Pinsent Masons LLP are solicitors to Celtic FC?
Just how small IS the world of law companies?
scottc says:
October 11, 2013 at 9:55 pm
Yeah but could anyone else buy 6.6m shares for £66,000?
scottc says:
October 11, 2013 at 9:54 pm
2 0 Rate This
BS – we’ve had problems with the retail division – the JJB contract going and the Puma deal being late. A lot of one-off costs – £1m for the Pinsents investigation. Pay-off for Green, etc.
So BS has had to shell out another £400k to Pinsents since the £0.6M he declared in the accounts
———–
So that payment was made after the accounts were published. That £1m struck me as very odd and I just checked that I hadn’t imagined the lower figure — £599,000 it was listed as. At least we know the findings were based on the available evidence.
Another £400,000 oot the windae must have made a wee dent in the cash reserves.
PS just saw the clever wording about the ‘current board’ not being involved. Just as well Charles was off property hunting by that time
Joethebookie says:
October 11, 2013 at 10:07 pm
‘…Yeah but could anyone else buy 6.6m shares for £66,000 ‘
—-
👿
🙂
From a statement made by the Rangers Supporters Association, Rangers Supporters Assembly and Rangers Supporters Trust – who met with Mather as well as finance director Brian Stockbridge
“The club will hold its first annual general meeting since it was liquidated”
THE CLUB? … shurely shome mishtake?
enough is enough says:
October 11, 2013 at 11:44 pm
1 0 Rate This
From a statement made by the Rangers Supporters Association, Rangers Supporters Assembly and Rangers Supporters Trust – who met with Mather as well as finance director Brian Stockbridge
“The club will hold its first annual general meeting since it was liquidated”
_____________________________________________________________________________________
I think what they are trying to say is
The club will hold its first annual general meeting since it was ‘denialated’,
meaning, since the beginning of the denial of the death of the club through the legal process of liquidation.
We are now awaiting the end of the period of denialation.
A behaviour which is part of the discipline known as psychiatry.
Joethebookie says:
October 11, 2013 at 10:07 pm
scottc says:
October 11, 2013 at 9:55 pm
Yeah but could anyone else buy 6.6m shares for £66,000?
_________________________________________
I think scottc has maybe got this right, and financial whiz kid Stockbridge has got himself in a mess because he didn’t have the nouse to counter the point. Unless, of course, the board are trying to pull a flanker (but would they) and hoped that, like scottc, the bears would think it really did mean the nominal value, and not the sale price, and so let it go unquestioned. I doubt this, though, and, if we ever see the response, it will be as scottc pointed out. I think this meeting is an example of how, without Green and his bluster, Mather and co just can’t cut it.
Judging from the way these RSA guys, despite asking some awkward questions, let the pathetic responses go, mostly, unchallenged, it looks like, despite a gradual awakening to the mess TRFC is in, there is still the hope/belief that things aren’t as bad as they seem amongst even the most enlightened supporters, and that everything will work out fine in the end. Nice timing, the King spin, just before this meeting 😐
A typical pay packet for executives of third tier clubs in Scottish football varies from 0 (ie nil) to about 50,000. Having several staff on salaries of 200,000+ plus huge bonuses is typical of a company doomed to liquidation. Short term gain for long term pain, Gain for the executives but pain only for the fans. The executives are not fans. They are simply taking what they can whilst the company still has funds. When it crashes onto the rocks the executives will jump ship. This will be very messy soon. The fans are being tricked and deluded. They will be angry.
Well this should provide The Conflicted One a few more nights out and maybe he can afford to bring Chick along too….
http://www.bbc.co.uk/sport/0/football/24501627
St Etienne buy Hampden Park’s iconic square posts
St Etienne say they have bought Hampden Park’s famous old square goalposts.
Fans of the French Ligue 1 club believe they would have won rather than lost the 1976 European Cup final 1-0 to Bayern Munich had the posts been round.
St Etienne president Roland Romeyer, whose club are to house them in a new museum, said: “People remember the epic and going down the Champs-Elysees.
“This is a very powerful symbol. They will be delivered shortly and we’ll have a little ceremony.”
Strikes by St Etienne’s Dominique Bathenay and a Jacques Santini header hit the woodwork at Hampden in that final against the Germans.
Hampden used the iconic posts from 1903 until 1987 before regulations from world governing body Fifa meant they had to be replaced.
They have since been stored at the Glasgow stadium’s Scottish Football Museum.
The French club have paid 20,000 euros for the posts and they will be housed in St Etienne’s future museum, which is due to open on 21 December.
“We’ve been working on this museum for more than 10 years,” added Romeyer.
“These square goalposts were in part a symbol of this 1976 final, which created an emotional tie between the French people and AS Saint-Etienne.”
Allyjambo says:
October 12, 2013 at 12:08 am
You’re probably right, they wouldn’t try to fool everyone would they
It’s hard to read anything they say without thinking “Right, what’s their angle?”
How cynical they’ve made us all.
Traynor-“If individual journalists overstep the mark I am in favour of selective bans which are more effective than excluding organisations”. Or to put it another way, if you report something we don’t like,you’re barred.Whatever happened to freedom of the press Traynor?You know,the kind of ideals you presumably signed up to when you became a journalist.You are a charlatan, and a disgrace to the profession.
One James Traynor, many faces!
Dave King wants Paul Murray on board if he becomes chairman.
http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-demands-return-paul-2364293
helpmaboab says:
October 12, 2013 at 7:35 am
I presume Traynor still maintains his NUJ membership and wonder if he’s perhaps overstepped the mark, and broken their rules, with this blatant attack on the freedom of the press. Perhaps Phil MacG can enlighten us here?
This is not far short of coercing Scottish journalists into towing the line, perhaps even bribery or blackmail, by a prominent (in more ways than one) member of the journalistic profession. This latest pontification, by a tainted example of the worst kind of journalist, should be like a red rag to a bull. It is such a blatant threat to the media that surely they must respond and take off the kid gloves, or forever bear the scars of cowardice, and become, ever more, just the go-to conduit for PR spin. At the very least, the whole of the MSM should issue a statement telling TRFC that, in the event they ban any of their members from ‘the club’, they will effectively be banning all members of the MSM.
Rangers, in whatever guise, and the people who surround them, are not worth selling your sole for.
I just wonder, though, if this is not a part of Traynor’s master plan, to remove all of the media, including TV, from Ibrox, leaving the way open for him to create his own little media empire, bringing in cash from the half billion worldwide TRFC support! That man’s a genius, after all 😆
Manandboy. ‘Denialated.’ I like it… I like it a lot 🙂
yakutsuki says:
October 12, 2013 at 8:37 am
One James Traynor, many faces!
_________________________________________
Surely not! If he had a choice, surely he wouldn’t use the one he uses on TV 😯
Interesting example of just how the media can put a spin on things depending on which side they support.
Todays DR says that BS and AM were ‘unable’ to say how much cash remained in TRFC’s bank account, rather suggesting they were incompetent and didn’t have a clue how much remained, or just flatly refused (because it was so bad). This wasn’t the case – though I’m not suggesting they would have been happy to divulge the figure anyway – as what they said, and I believe it to be true, was that they couldn’t divulge such (sensitive) information due to AIM regulations. Add this example of spin, and there’s probably others, to the fact that there is not one quote from King, his representative, or even anyone at all involved with him or TRFC, and it looks like yet another story cobbled together by Jackson, or just a Blue Knights PR puff piece gleefully published by a churnalistic rag under the name of a lazy sports hack.
Good to see JT getting out of the garden and into the dungheap. If JT was ‘a genuine, old fashioned nwspaperman’ as he oft previously claimed, he would have asked why the new club isn’t meeting journalists face to face. Instead he has taken part in one scripted conversation with Scotland’s youngest old manager, he has been instrumental in banning journalists, he has frequently advocated the banning of other journalists and the boycotting of at least one of his former employers. He must love the smell of burning bridges!
Why do BS & CM avoid calling Ally’s new contract ‘Ally’s new contract’? Are the fans representatives expected to believe that the only thing being altered in Ally’s substantive contract is a reduction of +/-£400 000 pa? Does his incredibly generous severance terms continue? Can he continue to expect the new club to pay a pension contribution commensurate with his old contract or his new one? What does Ally’s agent make of all this?
Do Media House employ a PR company? (From the minutes):
** At this point Mr Mather made us aware of a statement being made concerning Mediahouse which will be released through the usual media outlets shortly. ***
CM – I spoke to Jack Irvine before I came in to the meeting and he agreed fully with the statement I’ve just read out.
#####
With regard to the resolutions (9&10) Mr BS excels himself:(From the minutes)
BS – I can get a more detailed explanation of how the provisions would work from the lawyers and get back to you. For example – we need flexibility to allow us to take advantage of projects which would benefit the club. I’d be happy to talk to the lawyers concerned about these resolutions as I don’t understand why they would be concerned by them.
AS – Resolution 9 allows directors and employees amongst others to make a directors loan which is converted into equity at a nominal value of 1p per share. Nominated individuals can therefore acquire 6.6m shares for an investment of £66,000.
BS- We will pass that on to our lawyers and look at having that re-worded as that is not what is intended by this resolution
##########
To contradict yourself in the space of one sentence..either
It was what was intended
Or
Whoever proof read the document completely missed this (they paid £90000 to auditors, or three times the going rate for the out of date accounts)
Or
BS completely forgot to say what this resolution was intended to do
Or
The board have been caught attempting to wring another £3M out of ‘the club’
Or
The supporters’ reps have discovered how the staff who are no longer receiving bonus or who are having their salary cosmetically cut are still going to the full bhoona vis-à-vis the current arrangements.
One final point, what does Chuckles know that’s worth £600000 to keep his Yorkshire Yap shut?
James Doleman on October 12, 2013 at 8:37 am
0 0 Rate This
Dave King wants Paul Murray on board if he becomes chairman. http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-demands-return-paul-2364293
————————–+—–++–+-+–+++-
Just read this made my eyes bleed 🙁
Not 1 quote from Mr king or from anyone for that matter Referring to any demands to have Mr Murry on the board
We all know how the DR likes to appease and string the gullible along (the reason I don’t buy the rag) But this just looks like …….Oh no we got it wrong We need a we need a get out clause :slamb:
Some time in the near future there will be a joke that starts
“How many Directors does it take to pay an electric bill”
andygraham.66 says:
October 12, 2013 at 9:33 am
1 0 Rate This
Some time in the near future there will be a joke that starts
“How many Directors does it take to pay an electric bill”
%%%%%
Why is it only the electricity bill that receives the directors’ fastidious attention?
Exiled Celt says:
October 12, 2013 at 5:05 am
‘..St Etienne buy Hampden Park’s iconic square posts.’
——
What, I ask despairingly, is the point of having a Scottish Football Museum if it flogs off its pieces?
How dare that museum sell anything that belongs to the history of us all?
How utterly base and venal can the ‘curators’ of our football museum be?
They must be condemned completely and utterly as the mercenary, worthless specimens of humanity that they are.
The spirit of SDM ,CW and CG etc etc is writ very large indeed , right through their core, like a piece of Blackpool rock.
When the more major crimes of the the general SFA have been exposed and condignly punished, our attention will turn to this act of cultural vandalism.
Is there anything base that those in charge of Scottish Football will not stoop to?
I am utterly shocked.
Re the minutes of the Sevco 2012 meeting .
I noticed they said re retail that they could draw down money from the DIVIDEND ,I am no finance expert but that to me suggests they are a shareholder rather than an owner .
I know it’s a JV with SD but does the statement from the meeting not suggest that they do not actually own their own retail .
Not surprised but still disappointed to read how the Dunfermline story is being reported today. Firstly I am delighted they can move on. I’ve always believed, John Yorkston apart, they are a fine club, and hopefully they will now progress and add the value to our game they certainly have the potential for. Why though are the media saying they ‘avoided liquidation?’. I thought that was now an impossible scenario for a Scottish club.
eddie rice says:
October 11, 2013 at 3:43 pm
14 0 Rate This
PS anyone with any specific request for info on the papers submitted to sars please post a question and I’ll include it in my next correspondence with Marika.
~~~~~~~~~~~~~~~~~~~~~~~
Are we sure about the 82 year jail sentence? The SARS website states: ‘Today Mr King appeared before the Palmridge Regional Court and entered into a plea and sentencing agreement to this effect with the NPA. Mr King has to pay a fine totalling R 3.208 million (R 80 000 per count) or 24 months imprisonment.’
So there is a fine of R 80,000 per count, but is the sentence also per count? Or is it 24 months in total? My reading is the latter.
http://www.sars.gov.za/Media/MediaReleases/Pages/29-August-2013—Joint-Media-Statement-%E2%80%93-Settlement-between-the-State-and-Mr-DC-King.aspx