Good Evening.
When considering any type of protracted negotiation or discussion that seems to be going on too long, there is a story that is always worth remembering– whether it is actually a true story or not as the case may be.
It is said, that heads of state all met at a congress in what is now modern Germany sometime after the Franco Prussian war of 1870-1871.The entire congress was being run almost singlehandedly by the then Prussian Chancellor Otto von Bismark and he was keen to get all the necessary signatures on paper to seal some deal or other.
However, others at the congress were not too keen to sign up to certain elements of the proposed deal and so they hithered and dithered and in the eyes of Bismark they simply waisted time by concentrating on the minutiae- the little matters, with a view to ensuring their own interests were best served in these small areas– and did not focus on the big issue.
Having tried to talk these others round and educate them in his own beliefs and point of view on the bigger picture without any success, Bismark grew weary of the continuing delay and the posturing of his colleagues. All attempts at reason and diplomacy had failed in his eyes and so he decided to take a different tack.
Accordingly, it is said that whilst others were still inside debating endlessly on this matter or that, Bismark left the building and began simply shooting the windows in with the aid of a riffle which he just happened to have handy.
Those inside were naturally alarmed at this turn of events. They soon forgot about the minutiae under debate, they abandoned the previously expressed self interest and simply signed up so that they could get away from the mad chancellor and his house.
Job done so to speak.
Whilst I do not in anyway condone the behaviour of Otto von Bismark in this instance, and have no doubt that he was an autocrat, what I will say is that he believed that there was too much time being spent on the unimportant stuff and not enough time recognising what really needed doing– from his point of view of course.
Today– and it seems every day for months— we have endless debate about the future of Scottish Football. League reconstruction and the redistribution of footballing wealth has become a marathon– even before it has started.
Yet I believe that at the moment all parties concerned are not focusing on the radical reform that is fundamentally needed which is the creation of one, strong, properly structured and constituted body which is capable of the proper and ethical governance of Scottish Football and the business that surrounds football.
No matter what system you try, or distribution you agree, without proper sensible strong governance you are wasting your time.
Further, whatever body is set up, and whoever is chosen to be its CEO (or whatever the head honcho is going to be called), they must tackle the issue of corporate and fiscal compliance and the proper administration of any body corporate which actively takes part in Scottish Football– and that includes any such body or person who is involved in the running of a member club.
In addition, in so dealing with any corporate malfeasance or chicanery or whatever, the rules have to be applied with a rod of iron by an iron body.
As we can now clearly see, Football clubs and football in general is not, and never will be, immune from the effects of bad corporate governance and on occasion downright manipulation of facts, figures and contracts.
Whilst great play has been made of the fact that Gavin Masterton has handed over his shares in Dunfermline FC ( or its holding company ) the fact of the matter is that this in no way solves the problem faced by the football club. Whoever gains control of that club will still have to rent the ground from Mr Masterton’s company– and it is a rent that the club may just not be able to afford.
Ever!
It is only my opinion of course, but I am of the view that Mr Masterton has sealed a loan deal with his bankers which is of a type and duration which could not normally be achieved by other borrowers. The Loan has a lengthy period during which no repayments are necessary and interest can continue to accrue.
All very good you may say, but the level of debt concerned is not one that appears to be sustainable by Dunfermline FC and so whoever buys the club as a going concern ( if anyone buys it at all ) will have to pay an agreed rental to Gavin Masterton– and if the rental is not sufficient to repay Mr Masterton’s lenders, then I suspect that the end game here will be a search to find a buyer for the ground at some point over the next twenty years or so, with the hope that as part of the deal a space will be found somewhere for a new ground like New St Mirren park– the difference being that in that instance St Mirren were in charge of their future whereas Dunfermline are not.
The Governance of that club and the financial arrangements behind the club should have been looked at and examined by the SFA long before now– and the Dunfermline fans warned about the dangers of any such arrangements. Effectively those finance arrangements, should they continue, will probably mean that the club will have no option but to move from its established home!
All to suit one man!
Thankfully Dundee were spared a full takeover by Giovanni Di Stefano, however is it not a bit worrying that this man who has been jailed for over 14 years for various fraudulent acts, was allowed to roam around Scottish Football for a prolonged period?
Not so long ago Di Stefano did play a part at Dens, was in line to buy almost 30% of the shareholding, and was oft quoted in the papers and so on. The thing is that there were those who were prepared to give him a place at the Dundee table and in so doing invited him into Scottish Football.
Surely the SFA, had they been inclined to, could quite easily have pointed out that many of the claims of Mr Di Stefano were at least dubious if not completely incorrect? Yet nothing was being said at the time and silence prevailed.
Whilst not in the same calibre as Di Dtefano, Vladimir Romanov has now been at Hearts for a prolonged period. While I have no quibbles about the legality of Romanov’s takeover of Hearts, any money of a sizeable size which is transferred into Scotland from a foreign country will be subject to scrutiny by the Crown office to ensure that it is clean. Lithuania in particular is said to have a banking system which is governed loosely and sometimes does not meet the compliance standards expected in this country.
With his bank having gone bust, Romanov still retains the majority shareholding at Tynecastle, but there are questions still to be answered about what has happened at Hearts but life will be very different for the Edinburgh club going forward.
Again– could the SFA have done more to monitor the situation and could they have demanded clarity and detail from the Hearts owner as to his business dealings and the detailed arrangements with his bank?
At Ibrox, well things just go from the weird and inexplicable to downright astonishing– and all through a tremendous amount of smoke and mirrors.
It is clear that the SFA have no idea what to believe from Charles Green or for that matter Craig Whyte. On the face of it, there are clear links between Whyte and Green with the former paying over a six figure sum in return for absolutely nothing it would appear– with similar transactions going between Whyte’s colleague, Aiden Early, and Charles Green.
What is clear is that Green gave a clear undertaking to the SFA that he had nothing whatsoever to do with Whyte and would have nothing to do with Whyte going forward. Now, at the very least he is admitting that he met Whyte on several occasions, and whilst he may have made representations to Craig Whyte— these were all lies designed only to get Whyte to where Green wanted him.
This is hardly the act of someone who has been bona fides in his business dealings either with Whyte or with the SFA as the licensing body.
It is against this background that the Scottish Football Agencies need to wake up before they find the fans of the game ( at least those who want to stay interested in the game ) doing a Bismarck and panning in the windows of this whole house of cards.
Football Clubs, football fans, and indeed football itself needs protected from the financial and corporate shenanigans, and the governing body must be much more active and permanently vigilant in watching out for and if necessary anticipating the people and the transactions which have and will jeopardise clubs and the game in general going forward.
It is clearly no longer acceptable to rely on self regulation or mere declarations and undertakings from the clubs themselves. The Administrators must be much more active and employ far greater professional expertise in carrying out an almost constant analytical and reporting function in relation to club finance and corporate regulation.
All and any changes in funding, boardroom changes, investor changes and anything else major should be the subject of immediate and proper scrutiny by the SFA and there should be fair, immediate and stiff sanctions for non compliance, and any type of dilatory behaviour on the part of club officials who would seek to conceal the truth or who fail to properly disclose vital matters which should be out in the open.
Further, the funding detail– such as the never ending loan re Dunfermline should be a matter of public record in all its detail so that fans and investors can make information based value judgements when dealing with any club.
Such stiffer regulation should not develop into anything like a corporate witch hunt or any kind of draconian big brother syndrome, however the need for change given all of the current troubles is obvious to one and all.
Further, the attempted fudge surrounding Rangers league status last summer and the ongoing disquiet surrounding the position of Campbell Ogilvie does nothing to boost faith in and the reputation of Football Administration in Scotland.
Things are far from clear and there appears to be continual dithering and fudging. No one has any idea where the Nimmo Smith Report has gone nor what import it is to have— if any. Why is that?
Dithering and bumbling over detail is no longer an option. Strong clear governance is required to protect the game from being hijacked by those who have their own corporate and financial agendas.
Such people cannot be allowed to determine the way Scottish Football runs or to conduct themselves in a fashion that leaves football and everyone involved in limbo.
It is time for Scottish Football to find its own Iron Chancellor! There is a need for someone who will, if necessary, come along and shoot the lights out of any club or Company Director who wishes to play fast and loose with the game of football.
taxi for green: https://www.youtube.com/watch?v=_9SG-zYvPjk
Youtawknaboot@23.28
Sooperb! Given the latest intimidatory ‘hints’,humour is the best policy.WE SHALL NOT BE MOVED
Senior says:
Tuesday, April 23, 2013 at 23:05
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I have no explanation for what is going on in the Rangers fans minds. Other than perhaps the “WATP” mantra is so deeply ingrained in the support, that they will just presume that all will be well at the end of the day.
=================================
Is that not one of the biggest problems in all of this? It’s time they seriously woke up and smelt the coffee.
myohmy1 says:
Wednesday, April 24, 2013 at 06:4
Youtawknaboot@23.28
Sooperb! Given the latest intimidatory ‘hints’,humour is the best policy.WE SHALL NOT BE MOVED
==========================================================
More important I would suggest is to ‘Keep your Head’ 🙂
paulmac2 says:
Wednesday, April 24, 2013 at 00:16
resin_lab_dog says:
Tuesday, April 23, 2013 at 23:56
Long Time Lurker says:
Tuesday, April 23, 2013 at 23:51
Why would CG sell his shares to people who may be more than slightly aggrieved with him if they turn out to be worthless?
Makes no sense, unless he has a taste for hospital food.
_____________________________
But it will be French hospital food after all 🙂
nickmcguinness says:
Tuesday, April 23, 2013 at 23:22
There seems to be an effort by some newcomers on various chat forums to intimidate (with “well-intentioned advice”) anyone who may have an opinion on the business practices of the Easdales and the criminal record of the more senior of the brothers.
Is this the best that MediaHouse can do?
Message to Jack & Co: This is one stinking big smelly turd that is impossible to polish.
Or ignore.
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I would be very surprised if these, I’m sure well intentioned bons mots, have been missed by Strathclyde Police who are very efficient in criminal intelligence gathering. That is not to cast any aspersions on the businesspeople being put in the frame, but to find out what exact information these kind posters have which might be of interest to police investigations – especially as they are already deeply involved in investigating matters surrounding Rangers.
I have no idea if there is any criminality attached to the potential buyers of Rangers other than the one conviction reported. However, I really do wonder – putting the humour aside – whether any local with criminal intent, having anything to hide or needing to stay clear of police interest would get involved at any level with Rangers.
I have often thought that if Green and the spivs had had the slightest inkling of the Glasgow goldfish bowl and the microscopic, nay electron microscopy, of their every breath would have been subjected to whether they would never have gone ahead. But perhaps they would because spivs have a super-abundance of confidence. They have learnt however I’m sure that the Scots establishment is not to be trifled with and they may yet discover that the underclass is equally as dangerous.
I actually believe that in general spivs want to walk away with the money but also with clean hands in terms of regulations so that they have no issues over their next scam. That has not happened in this case and is possibly why the end-game is being accelerated.
achillesacronym says:
Tuesday, April 23, 2013 at 22:42
chipm0nk says:
Tuesday, April 23, 2013 at 21:51
I am perplexed?
… Didn’t Charles Green promise the bears that no individual would own more than 10% of the shares?
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Green said many things that were pure BS. In a public company if there are willing sellers and buyers then you can’t restrict the percentage held by any shareholder. The Bears just believed him and didn’t realise it was BS. I have actually never ceased to be amazed at the lack of the simplest grasp of shares and how the markets work shown by the vast majority of Bears.
Late today RM spent enormous energy attacking the Gibson Street Community Festival for refusing the Glorious Founders Charity a stall. They were truly impressive and within minutes mounted an all-out attack on the community festival by email and facebook and against all their sponsors – small local businesses – and also got the Evening Times involved. Truly awesome watching it unfold.
But when really serious things take place they go into lock-down and hibernation mode and do nothing – all they chant is the mantra that they will wait for an official announcement from the club. They have been totally brain-washed that everyone is against them including a media that normally bends over backwards to protect and advance their cause. And the net result is no action and little discussion but curiously all-out attack on anyone from any Rangers fans who raise their head above the parapet.
I wonder if they will ever learn – in view of their recent experiences why can’t they seem to read the signs?
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Echoboy – very shortly all dissenting voices will shoosh. Believe me. Just one visit usually, but they come back regularly.
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Thanks for the friendly advice and I will continue to use the tried and trusted methods which have served me well previously in dealing with unwanted advice and visitors. And strangely very few have ever come back and then mostly to apologise.
Why would anyone with “history” want to be thrust into the goldfish bowl that is TRFC?
BBC-Rangers have informed the Stock Exchange that Mather to be new CEO.
Well it’s April 24th 2013 and I would just like to wish Mr Regan at the SFA a happy birthday/anniversary as it has been exactly a year since our esteemed CEO last published ANY statements about Scottish football on the SFA website.
Its been a helluva 12 months since the last statement. You’ve missed a lot Mr Regan.
Have you been ill Mr Regan? Have you been sleeping? Is it laryngitis? Is it Ogilvieitis? Is it Rangersitis?
When can we expect you to publish your next plethora of words of wisdom to keep the underclasses informed?
Rangers International Football Club plc
(“Rangers”, the “Group” or the “Club”)
Directorate Change
Rangers announces that the Board has appointed Craig Mather, aged 42, to the role of Chief Operating Officer for the Group. In addition, Craig will act as interim Chief Executive Officer and will be a member of the Board as the interim Chief Executive Officer. In the meanwhile the search for a permanent replacement for Charles Green will continue and a further announcement will be made as appropriate. Craig has been director of sports development for the Club since October 2012 and is currently a shareholder in the Club having invested prior to its initial public offering in 2012. Craig currently holds 1,800,000 ordinary shares, representing 3.1 per cent. of the Company’s shares in issue.
Craig is currently a director of Simply Cartons Limited, Simply Cartons Holdings Limited, Simply Racing Limited, Simply Sport Management Limited, Puki Limited, One Partners Limited and Little Big Shot Limited and has been a director of IP Logik Limited, Simply Rigids Limited and Spirit Sports Entertainment and Media Limited in the last five years.
So, what does this mean? More BS?
Rangers International Football Club plc
(“Rangers”, the “Group” or the “Club”)
Response to media speculation
In light of the recent media speculation in relation to alleged claims which are purported to have been made by Craig Whyte, Aidan Earley, Law Financial Limited or Worthington Group plc in relation to the ownership or control of Sevco 5088 Limited (“Sevco 5088”), Rangers confirms that no legal claim has been received by Charles Green, Imran Ahmad or the Group. As none of the allegations that have been made in the press have been substantiated by evidence of any legally enforceable rights and as details of any claim, whilst threatened, have not been received, the company regards any such press commentary and speculation to be highly spurious. The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company and its directors from such spurious claims.
In view of recent media speculation, the company wishes to clarify that Sevco 5088 is not an active subsidiary of the Rangers International Football Club plc. It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House. Sevco 5088 was listed in the company’s announcement dated 22 April 2013 to comply with the AIM Rules for Companies requiring disclosure of directorships held by the directors of the company both currently and during the preceding 5 years. Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.
http://www.telegraph.co.uk/sport/football/teams/rangers/10014169/Charles-Greens-desire-to-sell-shares-to-fraudster-could-lead-to-boardroom-exodus.html
Charles Green’s desire to sell shares to fraudster could lead to boardroom exodus
A mass exodus of Rangers directors is likely should Charles Green achieve his desire to sell his Ibrox shares – at eight per cent, the biggest single holding of stock – to the Greenock-based bus operator, Jim Easdale, and his brother Sandy.
By Roddy Forsyth7:00AM BST 24 Apr 2013
It is understood that the move caused concern at Tuesday’s board meeting, in part because Sandy Easdale was sentenced to 27 months imprisonment at Croydon Crown Court for fraud in 1997.
The court heard evidence of stolen computer parts at his scrap yard in Greenock and that he was engaged in a nationwide VAT scam. Easdale was conducted around Ibrox by Green himself last November as part of a group of potential investors, prior to the club’s listing on the AIM market the following month.
Sandy Easdale and his brother already own around six per cent of Rangers stock and the acquisition of Green’s shares would make them significant operators at Ibrox – they would want to be represented on the board.
In response to the unease of existing directors, the Easdale brothers are likely to cite the denunciation in 2010 by Joan Aitken, Scottish Traffic Comissioner, of a whispering campaign by police and tax officials.
“His [Sandy Easdale] conviction should be regarded as spent. However, it follows him around and is used by others, for example, for newspaper reports,” said Aitken.
Related Articles
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Rangers boardroom woes grow 22 Apr 2013
Bain poised to replace Green 20 Apr 2013
Green steps down at Rangers 19 Apr 2013
Desperation was the driving force behind reconstruction 19 Apr 2013
Gilmour: SPL rivals tried to intimidate me 18 Apr 2013
She added that Easdale had “taken advantage of arrangements which can be made to mitigate tax” but that it was not her place to criticise that.
Aitken did, though, fine the brothers’ bus company – McGill’s – for failure to stick to timetables on newly acquired routes three years previously.
Under Stock Exchange rules, Green cannot transfer his shares until the first anniversary of the flotation on Dec 19 this year. However, the prospect of their acquisition by the Easdales – and the possibility that they could choose to add further to their holding – has provoked the latest crisis to rock the Rangers board, in the wake of allegations by Craig Whyte, whose withholding of PAYE and VAT at source, plunged the club into administration and then liquidation last year.
In the meantime, non-executive director, Craig Mather, will on Wednesday morning take over the day to day running of Rangers with the title of Chief Operating Officer – as well as that of acting chief executive – while the club seeks a permanent replacement for Green, who quit last week after Whyte said the pair had been in cahoots during last year’s takeover by the Sevco consortium.
It is understood that Mather – who will also be a director of the Rangers football board – would like to succeed Green on a long-term basis.
On Tuesday night nobody from the club was available for comment.
” the company regards any such press commentary and speculation to be highly spurious.”
Could some linguistic expert translate this into English, please? Is this an example of Traynor’s deathless prose? And he’s getting paid to produce this tripe. Since cost-cutting is urgently required, I have a suggestion—-
goosygoosy says:
Wednesday, April 24, 2013 at 00:28
23 2 Rate This
therampantbaron says:
Tuesday, April 23, 2013 at 23:14
There is an overarching question which is why on earth would anyone pay a penny for shares in a listed company whose right to ownership of key assets has been questioned?
…………………
How about looking at it this way ?
A well known Spiv is promising to sell his shares to a convicted felon.The Spiv needs a certain Mr Whyte persuaded to drop his claim to Sevco 5088
Could it be that
The convicted felon knows how to persuade people to cooperate
Therefore it would be a good deal to buy out the Spiv at a low SP and sell at a higher sp after the “persuasion” exercise?
=====
Given that this whole farce has been planned and executed by spivs and some pwopaarr naughty boys and given that the only mugs are the paying supporters I really don’t see Easdale or any of the other supposed antagonists parting with 7 figures to line the pockets of Green when the club is losing 1M a month.
I think the latest revelation is more smoke and mirrors but to what end?
paulsatim says:
Wednesday, April 24, 2013 at 08:14
Response to media speculation
So, what does this mean? More BS?
____
Tanks on the lawn then – keep off the grass.
On `spurious` speculation`– think we all missed the bit where a CEO resigned on `disractions` grounds
In view of recent media speculation, the company wishes to clarify that Sevco 5088 is not an active subsidiary of the Rangers International Football Club plc. It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House. Sevco 5088 was listed in the company’s announcement dated 22 April 2013 to comply with the AIM Rules for Companies requiring disclosure of directorships held by the directors of the company both currently and during the preceding 5 years. Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.
__________________________________________________________________
Just wow!
Sevco wasn’t the acquisition vehicle? That’s patently not true as it was the company that the administrators publicly entered an agreement with.
False claims of directorship were filed! You’ll have informed the police then, right?
A CEO with a background in packaging.
A future shareholder with an (alleged) penchant for “inflammatory” action.
That asbestos may yet come in handy down Edmiston Drive way. This is indeed, the gift that keeps on giving.
Seriously – what will it take for the ostrich faction among the The Rangers support to get their heads out of the ground – or their backsides – to realise what has happened, what is happening and what is almost certainly going to happen to their club? Surely they must know by now that not one of the main protagonists in this farce gives the proverbial Donald Duck about them or what they’ve given in the last IPO? (Bomber is still a peripheral player – so far. His starring role may yet arrive and as this rate a lot sooner than anyone expected.)
Nor will they care once the next set of chancers fetches up at Ibrokes. And that includes the Loyal Cardigan. As stated earlier, one would think that for the sake of his personal reputation he’d be bailing out of this particular dirigible before all the hot air escapes. Why is he remaining at his post?
In light of the recent media speculation in relation to alleged claims which are purported to have been made by Craig Whyte, Aidan Earley, Law Financial Limited or Worthington Group plc in relation to the ownership or control of Sevco 5088 Limited (“Sevco 5088″), Rangers confirms that no legal claim has been received by Charles Green, Imran Ahmad or the Group. As none of the allegations that have been made in the press have been substantiated by evidence of any legally enforceable rights and as details of any claim, whilst threatened, have not been received, the company regards any such press commentary and speculation to be highly spurious. The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company and its directors from such spurious claims.
_________________________________________________________________
An AIM listed company has filed a public domain document indicating that it has a claim against the major assets of the RIFC Group. That this claim has been made public is FACT. Reporting that this claim has been made is FACT not “highly spurious”. I can’t recall any media coverage that opines on the merits of the Worthington Group’s claim.
Rangers should stating that the claim is spurious not the media reporting .
It’s either a subsidiary or it isn’t. Weasel words.
Oh, and ‘acquisition vehicle’ instead of ‘company’. Quintessential Traynor gobbledygook.
From Rangers Rumours a few comments on the “bus brothers”
23 Apr 2013 18:51:31
Charles Green to sell his shares to Jim Easdale who is looking for a seat on the board. Enough everyone stay away no season tickets till we get decent people in charge of our club. Is Easdale a FRONT FOR GREEN WHO IS THE FRONT FOR WHITE. EVERYDAY IS ANOTHER DISASTER WHERE ARE THE BLUE KNIGHTS NOW.
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1.) SPOT ON. I WILL NOT BE RENEWING AND ANY FAN WITH OUR CLUBS BEST INTEREST AT HEART WILL FOLLOW SUIT.
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2.) Seems Smith and Murray are very unhappy with this sale. If so they should come out and tell the fans why.
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3.) A quote from the darkside, “new circus different clowns”. How much truth is in that, Green and Whyte proven liars and crooks to another Sandy Easedale a convicted VAT fraudster.
I am extremely concerned about parting with my hard earned cash for a season ticket as every day now feels like it could be our last with this circus. PB
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4.) @2 Perhaps it’s Easdale’s history they are fearful of. Am sure there are lots of other buyers for his shares if he wants to look again.
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5.) 23 Apr 2013 21:38:55
i am greenock born and bred and I was brought up with the Easdales and beleive me they are the last people we want being involved with our club regardless of how much money they have just google them and see what comes up
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6.) Cmon Rangers fans. Mobilise yourselves and do not take NO for an answer. Your loyalty deserves full transparency and openness from Smith Murray andMcCoist.
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7.) You have been shouting for new coaches for ages, well you, ve got them now Mc Gills. jamie.
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Charlie sells his Rangers shares to The Easedales…..or does he? Firstly Charlie has sold an option to The Easedales to buy his shares. He may have used “a put option” which basically says that they have agreed a deal now to buy Charlie’s shares when they become available to sell at a pre agreed price. Charlie’s shares cannot be sold at present due to the lock in agreement which still applies. The tax benefits accruing from AIM ownership are in the same position. It is pretty obvious to me that Charlie has given The Easdales a wonderful deal as I would not advise any investment in Rangers at present for many well chronicled reasons. Easdale is taking a chance although at the right money and a decent tax position they clearly consider the deal worth a punt. I read last week that Mr Ahmed was courting the Easedales and I wonder if he has a similar deal as I do not imagine him having a long term career at Rangers. One can only imagine that the option share price must be substantially lower than the current price to incentivise The Easedales. Word on the street in Manchester is that some of the other “ 1p” investors want an exit so they may be on the same train as Charlie.
The timing of recent events regarding Charlie, and Imran for that matter, has been pertinent. Charlie and Imran, amongst others were both recently paid their amazing bonuses for the feat of winning the third division. Craigybhoy suddenly turns up and makes John “Bomber” Brown look like a serious and well briefed businessman. Charlie is suddenly on the back foot with Imran and the six months AUDITED accounts are due in short order. Trouble at mill certainly!
Firstly I understand that The Easedales were showen round Ibrox by Charlie last Monday….after the eventful board meeting on the Saturday. This discussion with the Easedales and others has been ongoing for some time obviously. The conclusion is therefore that this trade sale was going to be their exit strategy. The Champions League anthem etc was all just rubbish. It was a plan! You do not do these types of deal quickly so there must have been lots of prior discussion. Anyway what was Charlie doing at Ibrox on the Monday as I thought he was on garden leave at the time?
Secondly why did Charlie start talking about Da*rkies and P*kis when he was under no pressure to do so. Have a look at the discussion context and it appears out of left field. The common answer is that the man is a racist and a thickhead. I actually believe that he did it to get out of Rangers. He was probably able to negotiate a severance deal to go and the fans would deflect the blame to someone else. Quite clever really. What about Imran who is in exactly the same boat as Charlie? Well my guess is that he is currently negotiating his severance using the fact that he has been subject to racist abuse by The Rangers CEO. It was a plan and as I prophesised last year in my guest post about Imrans track record on AIM where my conclusion was “Well there you have it. Welcome to Imrans World………………………a complete semi regulated disaster area full of the same people turning the ordinary punter over almost without exception.”
http://scotslawthoughts.wordpress.com/2012/10/19/imran-ahmad-of-rangers-the-portfolio-of-his-former-co-allenby-capital-by-100bjd/
Rangers RNS this morning……………………….note FALSE claims as the key part of this move on nothing to see here commentary
RNS Number : 0621D
Rangers Int. Football Club PLC
24 April 2013
Rangers International Football Club plc
(“Rangers”, the “Group” or the “Club”)
Response to media speculation
In light of the recent media speculation in relation to alleged claims which are purported to have been made by Craig Whyte, Aidan Earley, Law Financial Limited or Worthington Group plc in relation to the ownership or control of Sevco 5088 Limited (“Sevco 5088”), Rangers confirms that no legal claim has been received by Charles Green, Imran Ahmad or the Group. As none of the allegations that have been made in the press have been substantiated by evidence of any legally enforceable rights and as details of any claim, whilst threatened, have not been received, the company regards any such press commentary and speculation to be highly spurious. The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company and its directors from such spurious claims.
In view of recent media speculation, the company wishes to clarify that Sevco 5088 is not an active subsidiary of the Rangers International Football Club plc. It is and has been a defunct non trading company over which termination proceedings began last year and which would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House. Sevco 5088 was listed in the company’s announcement dated 22 April 2013 to comply with the AIM Rules for Companies requiring disclosure of directorships held by the directors of the company both currently and during the preceding 5 years. Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.
For further information please contact:
Rangers International Football Club plc
http://www.rangers.co.uk
Investor enquiries: Malcolm Murray, Chairman
Media Enquiries: James Traynor
Tel: 0141 580 8647
http://www.dailymail.co.uk/sport/football/article-2313933/EXCLUSIVE-Dave-King-line-Rangers-return-Charles-Green-heads-Ibrox-exit.html?ito=feeds-newsxml
Who’s next to join the (bus stop) queue?
“The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company and its directors from such spurious claims.”
_
And a fine noble task is that. Reputation protected by continuous legal advice. Keep up the good work 😉
twopanda says:
Wednesday, April 24, 2013 at 09:19
“The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company and its directors from such spurious claims.”
_
And a fine noble task is that. Reputation protected by continuous legal advice. Keep up the good work 😉
———————————-
Surely this should read
“The Group has been and continues to receive legal advice to protect the business, assets and reputation of the company from its directors’ spurious claims.”
Ah, Dave King, the alleged ‘shameless glib liar’. All we need now is Bill Miller, Bill Ng, and Brian Kennedy to re-emerge to complete the farce.
Rangers International Football Club plc
(“Rangers”, the “Group” or the “Club”)
Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.
OR
A spokesman for Rangers confirmed that there had been a transfer of assets between one newco and a second separate newco. He told STV: “For the avoidance of doubt, Sevco 5088 Limited bought the assets of the Rangers Football Club and then transferred them to Sevco Scotland Limited so that all the assets would be in the Scottish registered company that is Rangers FC.”
FFS will someone in authority just get this sorted once and for all.
Its not hard – really it isn’t.
D&P signed a contract with someone and that will surely detail who they sold the assests to.
Who holds such docements and are they available for public scrutiny?
At the very least should BDO not be stepping in now on behalf of the creditors?
A total shambles in which no one is willing to put their head above the parapet and tell the truth.
Come on Tom English, Graham Spiers and even Stuart Cosgrove, lets get this matter on the front pages now and start seeking answers because, lads, there is a strom coming.
Either Whyte has a claim or he doesn’t.
Sod waiting for the independent inquiry from within Ibrox, that is probably just going to be another whitewash and we will be walking into next season with further uncertainty.
The strom coming is that if Whyte has a claim he will push the button at the time when it suits him and will do most damage, not only to The Rangers but by, fall out, to the rest of Scottish Football.
What has been issued over the last month is just the warning shots.
Do not be surprised if Whyte is going to start legal proceedings resulting in possible actions and cease & desist orders (as discussed by others) that this will be right before the start of the season.
Not now, when there is time to fight back, plan and regroup but right at the start of the season where court orders may stop Rangers playing their games. As discussed elsewhere the possible issue of ground ownership or agreed leasing will also arise thus effecting The Rangers SFA licensing arrnagements.
Remember these guys are sociopaths. The SFA told Whyte he was an ‘undesirable’ and fined him. he will care not a jot if the football establishment and chaos amongst the leagues and cup competitions are drawn into his battle with Green / The Rangers.
You have been warned – Rant Over 🙂
Ahh Dave King another dubious character
Is King allowed to become a Director of any Scottish football club after
his involvement last time round ? I thought any Directors who were involved
were barred from any further roles in Scottish football .
Of course given the choice of King or Easdale ,Campbell may decide that for
the good of the game the lesser of two evils should be allowed to rescue the
fabric of Scottish Society .
What better way to portray King as a fit and proper person than to compare him
with something far worse .
Lying here in my sick bed * (altogether now….AAAWWWWWW) and unable to get back to sleep for the moment, I thought I’d use my phone to rummage around on Google.
You can imagine my delight when I discover that the World Skimming Championship is taking place on Eilean Èisdeal on 29 September 2013.
http://www.stoneskimming.com/index.htm
“Skim to the Stars”
music throughout the day from The Absurdist Pipe Band
😀
* nothing serious folks, just laid low with a really bad cold/flu.
“help” ! if an ex director gets involved, does the “pheonix” issue arise ?
Situations Vacant: Wanted. Fit And Proper Person to help run large ailing organisation.
Ability to keep Schtum essential.Experience in casino management would be advantageous.
Previous applicants need not apply.
Contact Mr C Hanser PO Box 150 Vanuatu
Get well soon Wobbly.
The club statement on Sevco 5088 is interesting for one reason only.
One would have expected a categoric denial that neither Whyte nor Sevco 5088, has any rights whatsoever over the assets – the mainstay of this business – together with proof that those assets were legally transferred, unencumbered, to Sevco Scotland by Duff & Phelps last summer.
Surely Rangers have proof ? Please tell me they can actually prove that those assets are properly owned by them? If nothing else, they must have the title deeds?
There is no such denial and no proof has been offered.
if this statement is the work of Traynor, then it raises more questions than answers, hardly the work of a PR expert.
therampantbaron says:
Wednesday, April 24, 2013 at 10:07
if this statement is the work of Traynor, then it raises more questions than answers, hardly the work of a PR expert
——————————————————————————————————————————–
Sorry, but I must have missed the transition of a tired old redtop hack to PR expert 🙂
He appears to have emerged as a pretty dull moth in PR terms rather than a beautiful butterfly which, with one lazy beat of its wings, can change the world never mind public perception of a football club engulfed in self-inflicted turmoil.
SBC
Where’s greenockjack – to give us his opinion on the latest ‘investor’ speculation down Govan way?
——————————————————
Easdales: Doesn´t really make sense to me, political manoeuvring ?
Best wait and see what develops.
So Chuck is on his way having trousered £350k in salary, the same again in bonus plus a severance package worth at least £200k. Best part of a million quid before he sales his penny shares, at least another £2-3million there. Chuck will be up almost £4million perhaps more.
What does he leave behind?
A business heading for another date with an insolvency practitioner as its haemorrhaging around £1million a month, a fast depleting IPO cash pile in the bank account plus a string of empty promises not to mention the dispute over the ownership of the assets.
If anyone ever deserved a “chapeau” it is surely the bold Charlie boy.
Value for money, Gers fans? Fit and proper, SFA?
You’ve been done over, again.
It serves you right.
They couldnt have made the company any more toxic if they tried
Are they deliberately trying to get themselves closed down ?
show us the deeds, show us the bank statements ,show us the 1 way tickets to Costa Rica
The Court of Session: Proposal for a CVA: 29th May 2012
“on 12 May 2012, the Joint Administrators agreed and signed an offer letter with Sevco (“the Offer Letter”) and granted Sevco exclusivity to complete a takeover of the Company or a purchase of the Company‘s business and assets by 30 July 2012″ [Sevco 5088 Limited (“Sevco”)]
RIFC: 24th April 2013
“Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.”
1. Was the Court of Session sent an amendment to the CVA proposal?
2. Were the creditors informed of this change?
therampantbaron says:
Wednesday, April 24, 2013 at 10:07
I think we are seeing here how things have changed for ‘Rangers’ from the days they could hand out whatever they liked to a compliant MSM and football authorities. I’m sure they can still get away with it with these august bidies (typo but it kinda works – should have read bodies) but the AIM is a totally different matter and would pounce on anything not verifiably true – at least now that they know what they are dealing with. TRFC can no longer put out some little puff piece if it even potentially impacts on the share price – and at the present time, everything they put out has the potential to affect the share price – and viability of the business. They are between a rock and a hard place, tell the truth, or/and die: be careless with the truth, or/and die.
Part of the problem the ‘Rangers’ men on the board have, is, they don’t know the truth, and, as a result, are having to guess as they go along and are continually going to make mistakes as they scrabble around in a world of lies and half-truths. Only Green and his buddies are aware of what’s really gone on and I suspect the investigators are in as much to piece together, for the board’s benefit, a picture of just how messy it all is. Only once they have a picture of what’s actually happened can they find a way of repairing the damage, by which time it may well be too late. It probably is already!
More court trouble over Sandaza:
Wishart backs his case.
http://www.scotsman.com/sport/football/top-football-stories/wishart-gives-backing-to-both-brittain-and-sandaza-1-2906859
Quote bellow from Fraser Wishart regarding Sandaza’s claim for unfair dismissal, its amazing that in the last year he has never said one word against Green and now Green is outed he is happy to criticise him?
“We’ve had recordings of Craig Whyte and Charles Green recently. There are recordings everywhere. It’s a very difficult time. We certainly feel Sandaza’s sanction was over the top.
“You have to take into consideration the circumstances. If it had been a true situation, he was clearly saying [to the caller] that the alleged club would have to pay £500,000 to Rangers for his services.
“I think we all know Rangers would have grabbed that opportunity. Had that been a real situation with a real deal on the table, I think Charles Green would have grabbed it.”
wottpi says:
Wednesday, April 24, 2013 at 09:42
Rangers International Football Club plc
(“Rangers”, the “Group” or the “Club”)
Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.
OR
A spokesman for Rangers confirmed that there had been a transfer of assets between one newco and a second separate newco. He told STV: “For the avoidance of doubt, Sevco 5088 Limited bought the assets of the Rangers Football Club and then transferred them to Sevco Scotland Limited so that all the assets would be in the Scottish registered company that is Rangers FC.”
——————————————————————————————————————————
Totally agree with this… as Bomber might say “Whaurs the document Duffers!”
Tom English, I know you read this blog. You’ve made me angry.
In your Q&A yesterday, you chastised someone for anticipating bad things happening to RFC*, using words to the effect of “I would advise caution before you start getting a bulge in your trousers over their licence being revoked. Remember the near orgasmic anticipation among some Celtic fans about title stripping. Don’t second-guess things is my advice”. This implies that the individual (and, no doubt, other non-RFC* fans) was unhappy at the LNS decision and therefore implies that RFC* won the LNS case given that there was no title stripping.
As you are well aware, RFC* was actually found guilty of many years of illegal registration of players and it was only a ridiculous interpretation of their own registration rules by the SFA (Sandy Bryson) that allowed RFC* to hold onto their titles i.e. Even if we now know you were guilty, you can keep hold of your ill gotten gains because at the time we didn’t know you were guilty!! So much for the Proceeds of Crime Act!! Tom, why do you not report truthfully on this and, indeed, challenge the decision instead of reinforcing the RFC* fans (false) belief that “everyone is out to get us, but we’re always proved right”? Your – and other journalists’ – constant reinforcement of RFC* fans’ (false) beliefs is really not doing them, or Scottish football, any favours.
I know it’s hard to go against the beliefs/wishes of a large proportion of the readership which pays your wages, but Tom, you’re a journalist – you’re supposed to tell people the truth. If I were you, I would be ashamed.
The Court of Session: Proposal for a CVA: 29th May 2012
“In the event that either this CVA is not approved, or the other Conditions of the loan are not satisfied or waived by 23 July 2012, Sevco is contractually obliged to purchase the business and assets of the Company for £5,500,000 by 30 July 2012.” [Sevco 5088 Limited (“Sevco”)]
RIFC: 24th April 2013
“Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.”
The CVA was rejected; Sevco 5088 were contractually obliged to purchase the business and assets, but RIFC says they didn’t. They evidently want to show there is clear blue water between Sevco 5088 and Sevco Scotland. The preference for a Scottish-registered company isn’t explained.
“Joint administrator Paul Clark last night closed the door on any rival bid for the club’s assets being considered, claiming the agreement with Green’s Sevco consortium was ‘binding’.” [Daily Mail]
Awaiting the next RIFC statement; each one adds clarty.
Nawlite I am quite happy to divulge that I was on the receiving end of Tom’s chastisement.I was simply asking a question re. the licence issue.There was no inference in my question that I wished bad things to happen to TRFC,I was merely looking for a take on the situation.
I can’t say I have ever had ‘a bulge in my trousers’ about matters relating to TRFC.
In fairness that was clearly TE’s take on the question at the time.Online chat is never the best place for balanced argument.
C’mon peeps..fare’s fare..
Although the names most certainly ring a bell,there will be uniform changes.
These new guys may appoint an inspector to conduct a psv at rifc.Pullin out all the stops,this could be just the driver they need in taking sevco ii/iii/iiii down a new route,gettin the bears on board by offering concessions,additional seating,more club decks,new coaches etc.
Where is this goin..where does it all end,quite simply…the world is your oyster !!
Aaaaah hate you Butler….
Pfffffft, new CEO appointed..? a cartoon manufacturer FFS, !!
🙂
I might add that I fully concur with your post
Do these tweets make sense to anyone?.
CelticResearch @CelticResearch 13m
You know the Timmy Web of Conspiracy? If Chris Mather’s wife worked for the firm who represented Naismith and Whittaker would that count?
CelticResearch @CelticResearch 12m
I’m sure that Company Policies and Firewalls would prevent Simon Catto and Beth Mather from having any RIFC linked conversation.
CelticResearch @CelticResearch 10m
Those same safeguards will prevent any RIFC linked conversations with Richard Healey, HBJ Gateley partner who advised HMRC on Rangers admin.
CelticResearch @CelticResearch 7m
I’m certain that professional lawyers (involved in HR,company restructuring ,tax evasion) would recognise the importance of those safeguards
CelticResearch @CelticResearch 4m
No one with half a brain would suggest that a large established firm of lawyers was incapable of handling multiple clients without conflict.
CelticResearch @CelticResearch 2m
Interesting to note that the Nottingham office of HBJ Gateley (restructuring specialists) were involved with Simply Cartons successful MBO.
redetin says:
Wednesday, April 24, 2013 at 11:32
…
Awaiting the next RIFC statement; each one adds clarty.
~~~~~~~~~~~~~~~~~~~~~~~~
I so hope that was a deliberate typo. It’s brilliant! Things get murkier and murkier
So the two front-runners to be majority shaelholders in Rangers are David “Dave” King described by a South African judge investigating tax avoidance as “a glib and shameless lair” and Sandy Easdale who was jailed for a £1.5m VAT fraud in 1997, a crime described by Traffic Commissioner for Scotland as “very serious indeed and (which) merited a hefty sentence” Paulsatim – that is rather a different quote than the one from Roddy Forsyth’s article don’tchathink?
However in defence of the Easdales it should be noted that said Commissioner did lambast “gossip-mongers and those who expect me to act on their chit-chat” saying she had “no evidence that any of the Easdales are engaged in any criminal activities; no evidence of money laundering; no evidence of drug dealing, or of harassment, or of threatening public officials.”
So that’s ok then.
🙂
TJB
The reference is to HBJ Gateley whose Edinburgh office represented Whittaker and Naismith
An associates in its Nottingham office is married to Craig Mather, and one of its partners in Manchester helped HMRC in the RFC(IL) enquiry
These coincidences happen but no doubt it will vex the paranoid.
From The Scotsman article today
“We’ve had recordings of Craig Whyte and Charles Green recently. There are recordings everywhere.” An interesting use of words from Mr Wishart if he has been quoted correctly.
———————————————————————————————————————
The question on everybodys’ lips just now will be where and to whom do these recordings extend?
No doubt CW will release tapes as and when he sees appropriate,should he have anymore revelations or tapes to place in the public domain.
We might say be prompted to ask ,” Who are these people, we want to know who they are?”
Remember folks don’t go saying anything about these guys from Greenock. Whatever you do don’t even mention them. Don’t go looking for any connections with Green or Whyte, because they know where we all live, every single one of us.
BTW I put this up on the Law Thoughts site, but it is on topic so:
Dave King may be a “glib and shameless liar” but he knows a walker-away when he sees one: “I think I was public in saying that [current majority shareholder] Craig Whyte wouldn’t see the season out and I would predict Charles Green wouldn’t see a season out either.” June 2012
Presumably Fran sandazza will be claiming a sizeable sum maybe all of his remaining contract which for a div3 club would be an eye watering
Amount a fiscal boot in the haw maws let alone one losing 1m pcm would it not be in his interests to arrest the funds currently on account just in case the club ceases to be soon
therampantbaron says:
Wednesday, April 24, 2013 at 12:19
=======================================
Cheers.
Just a thought, nothing more, maybe a bit out there.
It seems as predicted that Charles Green was working his way out of RIFC, with his ridiculous claims, his racist comments, his constant lies and drivel etc. He was basically openng a door for his way out with his takings.
I know this might be mad, but could the appointment of Mather and the possibility of the Easdales taking control be desingned to make the fans walk away as well, or at least decide not to buy season tickets but go on a game by game basis.
That would almost certainly make the business untenable in a very short space of time, leading to an MVL and the business being broken up. Possibly selling the Ltd Company (club) to one group and the assets (stadium etc) to another, with the proceeds being divied up between the shareholders.
Are they in fact trying to make the fans “walk away”.
Malcolm Murray says,”the last week or so has been turbulent for the club”.
It’s nice to see he’s woken up from the coma.
Am I the only one that thinks these statements etc from RIFC are nothing but a stalling tactic,designed to reach the end of the season?.
How can a board of a PLC not know which assets it does or does not own?.
Who called in Pinsent Masons,the board or Deloittes?.
Are audited accounts not due soon and are these not needed for Licencing purposes(I know,I know).
I’ll bet the SFA/SFL are hoping TRFC enter administration with 2 weeks of the season left.That way they can deduct them 15 pts and they’ll still have enough to win promotion even if they lose their last 2 games.It should be more,of course for a 2nd administration but that’s only if they’re the same club!
I just realised, Green is even more of a Max Bialystock than Whyte was.
“Springtime for Hitler … etc”
chipm0nk says:
Wednesday, April 24, 2013 at 12:43
0 0 Rate This
Just a thought, nothing more, maybe a bit out there.
It seems as predicted that Charles Green was working his way out of RIFC, with his ridiculous claims, his racist comments, his constant lies and drivel etc. He was basically openng a door for his way out with his takings.
==============================
tell you what, if I was wanting to manoeuvre an exit to cash in on a potential windfall from very public, high profile job where a LOT of people would know who i was and my acts/deeds would be remembered for GENERATIONS – not to mention a few folk looking in on what i was currently up to.
I wouldn’t want to be labelled a racist for any amount of money.
thespecialswon says:
Wednesday, April 24, 2013 at 12:22
Quantcast
Remember folks don’t go saying anything about these guys from Greenock. Whatever you do don’t even mention them. Don’t go looking for any connections with Green or Whyte, because they know where we all live, every single one of us.
========================================
I’m taking no chances,right now you couldn’t find me with the Hubble Telescope.
I spent 6 years of my working life on Teesside, so I have a probably unhealthy interest in Darlington FC and this gentleman-
http://en.wikipedia.org/wiki/George_Reynolds_(business)
As soon as the guys from Greenock were mentioned, my thoughts immediately turned to this gentleman, his football involvement, and the consequences. Nice shiny stadium, though-
http://en.wikipedia.org/wiki/Darlington_Arena
Shame football isn’t played there any more. Parallels, anyone?
chipm0nk says:
Wednesday, April 24, 2013 at 12:43
Are they in fact trying to make the fans “walk away”.
—————————-
TRFC (Sevco Scotland Ltd) are losing £1M a month according to the interims – and that is without paying football debts, buying car park etc.
And that is WITH 36k season tickets sold
IT IS ALREADY AN UNTENABLE BUSINESS
the RIFC PLC should really put TRFC Ltd up for sale/immediate disposal of the loss making enterprise and look to use whatever funds they have to generate a return for the investors – buying Celtic shares looks a good bet just now 😀
But they could offload Murray Park to a developer, rent Ibrox back to whoever buys TRFC and generate an annual income – although high risk
Dunfermline are on the edge of bankruptcy, RIFC PLC could see value in buying the club – if it had any assets to strip, or even Hearts for that matter.
Indeed, if RIFC PLC do have £22M in the bank (or owed to it by TRFC Ltd) I’m sure they could make a bid to buy a struggling English team and work to the EPL where they could see a return on their investment
But, there is no need to further besmirch the holding company of the company which operates the club. They could cut loose the loss making club now and look for new investment opportunities elsewhere
This is taken from SFA CEO, Stewart Regan’s last public statement exactly one year ago.
It is still available on the SFA’s website:-
http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=2550&newsCategoryID=36&newsID=9731
“Rangers have been part of the fabric of Scottish football’s history and are integral to its future prosperity.
“The Scottish FA must act with integrity and with the best interests of the game at heart. ”
How wrong can you be ?
Maybe explains why he hasn’t made any statements since – that & CO.
chipm0nk says:
Wednesday, April 24, 2013 at 12:43
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<,
chip..
I vaguely remember,way back in RTC time, someone posted a similar comment & possible outcome.They stated that (2/3 yrs)in the future we could be witnessing in some form, 2 separate "Rangers"/clubs/ teams in existence!! battling it out to win the hearts minds & £££ of a severely divided supporter..if RFC break away & separate from the PLC, take over a n other club & rebrand…could this indeed be possible ?
Not The Huddle Malcontent says:
Wednesday, April 24, 2013 at 12:49
I wouldn’t want to be labelled a racist for any amount of money.
======================================================================
I am afraid you are confusing youself with someone who doesn’t give a Carter Ruck.
It is and always has been about the money.
Tic 6709 says:
Wednesday, April 24, 2013 at 12:52
0 0 Rate This
thespecialswon says:
Wednesday, April 24, 2013 at 12:22
Quantcast
Remember folks don’t go saying anything about these guys from Greenock. Whatever you do don’t even mention them. Don’t go looking for any connections with Green or Whyte, because they know where we all live, every single one of us.
========================================
I’m taking no chances,right now you couldn’t find me with the Hubble Telescope.
=====================================
I don’t know where the Hubble telescope is so I’m totally rogered. However if my satnav packs in when I’m down south do you think I could phone them for directions home.
————————————————————
chipm0nk says:
Wednesday, April 24, 2013 at 12:43
4 0 Rate This
Just a thought, nothing more, maybe a bit out there.
It seems as predicted that Charles Green was working his way out of RIFC, with his ridiculous claims, his racist comments, his constant lies and drivel etc. He was basically openng a door for his way out with his takings.
I know this might be mad, but could the appointment of Mather and the possibility of the Easdales taking control be desingned to make the fans walk away as well, or at least decide not to buy season tickets but go on a game by game basis.
That would almost certainly make the business untenable in a very short space of time, leading to an MVL and the business being broken up. Possibly selling the Ltd Company (club) to one group and the assets (stadium etc) to another, with the proceeds being divied up between the shareholders.
Are they in fact trying to make the fans “walk away”.
======================================
The Easdales will see this as a way of further ingratiating themselves into the world of the shakers and movers. Once thing is for certain though, there is no way they will have paid anything like the money quoted in the DR. The love the big headline numbers but when you look into any of their “acquisitions” (as I do due to the nature of my business) then they are never what they seem. I’d be astonished if Chuck got (or has been promised) any more than a small fraction of what was reported.
The other advantages I would think were obtained via an MVL would be
1, The share price would become irrelevant. Everyone would just get their cut of the loot. We all know that the share price is a nonsense anyway. So sell up and divie up.
2, It would do away with pesky clauses preventing certain people or groups selling up. They could cash in straight away. See 1, who would be buying anyway.
3, It could be sold to the support, real Rangers men taking over the club at last. OK we are renting the ground, but who cares the club is saved … again.
It would be a lot easier to do this if the likes of Malcolm Murray etc were to walk away just now. Then Green’s boys could just do what they want.
torrejohnbhoy says:
Wednesday, April 24, 2013 at 12:46
………
Are audited accounts not due soon ……
_______________________________________________
No.
RIFC Plc’s first year end will be 30 June 2013. Audited accounts due 6 months after that i.e 30 December 2013.
Not The Huddle Malcontent says:
Wednesday, April 24, 2013 at 12:57
TRFC (Sevco Scotland Ltd) are losing £1M a month according to the interims – and that is without paying football debts, buying car park etc.
+++++
The interims show that TRFC are burning cash at £2.5m per month. The car park and Edminston House have already been bought in January out of the IPO money . The football debts have now been paid- out of the IPO money. As I posted yesterday, there is £7.5m max left in the bank. Peanuts coming in until SB renewal time. Even the bears don’t fancy handing their cash to the Easedales. This can only end badly. It’s just a question of when.
Just noticed this on a club forum discussing current and future potential large shareholders.
“We are rangers football club, like the church, an institution and anyone who aspires to be part of that great institution should be whiter than white”
Made me chuckle…such short memories of some people.
zerotolerance1903 says:
Wednesday, April 24, 2013 at 13:12
——————————————-
Don’t be so sure.
RIFC could use the cloak of secrecy and extend to 18 months, whilst letting TRFC accounts be audited so as to comply with SFA and, ahem, UEFA deadlines. That’s assuming Deloitte can be satisfied in the course of their audit that TRFC owns the assets it claims to own.
I suspect in the interests of transparency, RIFC will indeed extend to 31 December 2013 so no filing before 30 Sep 2014?
nixonwhytewashing says:
Wednesday, April 24, 2013 at 13:13
“We are rangers football club, like the church, an institution and anyone who aspires to be part of that great institution should be whiter than white”
+++++++
Whyer than Whyte, surely.