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.
Robert Coyle says:
Friday, April 26, 2013 at 08:32
As far as I am aware a long firm fraud is based on building credibility and a good credit rating, to then buy a load of goods on credit with no intention of paying.
Is someone suggesting that has been happening at Rangers.
I’m afraid I just don’t see it, certainly not for the last several years.
I read Goram & Forsyth this morning. I’m astonished. I’ll save you you the trouble. Goram – invest in squad, Forsyth – it’s a mess but hope it gets better. Add in Mather’s opening line of “working with Ally in next transfer window”. What do you have? Total failure to see what needs to happen.
TRFC is losing a ton of money. There is only one strategy.
Cut costs. Cut now, cut deep, cut till it hurts and then cut some more.
Otherwise you are dead. Again.
To continue to be blunt, TRFC can’t afford to pay a player more than £2-3k a week, if that, with a first team squad of 18-20 tops. Black, Templeton, Wallace need to be shipped out on first day of the summer window. I’d also get rid of all youth teams, save for a u20’s. Total player costs £3m. Back room operations need to be stripped bare and/or outsourced. Ally gets a £600k pay cut, directors max £100k, NEDs 50% cut. No bonuses until in profit. Any dissent get MSM to say more interested in own cash than TRFC.
Mather, if he is not a fool, needs to lay the cost cutting strategy out to the board, McCoist, the shareholders, supporter associations and the wider fan base. He needs to say its going to take time, longer than previously advised, but it will get TRFC back on its feet.
Whyte, Duff & Phelp and Green should have already done this.
Of course this assumes that the assets belong to RIFC. If they don’t, it doesn’t matter what they do, they’re done for.
Goram – you are a fool.
Forsyth – you are a fool.
Do I think they will actually do this?
Not a chance.
Tough.
ecobhoy says:
Friday, April 26, 2013 at 09:06
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Hear, hear. Surprised at Henry.
The man with the wee white bricks is calling for Mr Malcolm Murray to take decisive action over Mr Ahmed’s alleged extra circular activities as a blogger. This is the guy who was leading the charge for the beatification of Mr Green, and the expulsion of Mr Murray to the seventh circle on the grounds of rumoured personal issues. He still wants Mr Murray to go, only now the rational has changed to Mr Murray being too busy with his other interests.
Wonder if he buys reversible coats, to make these constant switcheroos easier on the wardrobe? Pure comedy gold for a Friday morning coffee break!
Was the Imran Ahmed story the one that Dingwall was alluding to or is there other bad news expected today?
Sugar Daddy says:
Friday, April 26, 2013 at 09:50
Thats as good a call as anyone can make.
There probably is a chunk of IPO money available but the whole operation has to be run on the basis of what is coming in via season tickets, sponsorships and their cut of strips sold. (Ehh…. that will be like nearly every other Scottish Club)
All the other income generating fantasies were just that. Or at the very least something to keep your eye on but not to push ahead with at this time.
If you can’t secure Div 2 then Div 1 with the above income then you should really just pack up and go home. Alternatively if you see yourself as being the top team in Scotland then face the reality, that to get to that position it is going to take a lot of hard work, time and possibly luck.
If there is IPO money left I’d be banking that for a rainy day.
TW (@tartanwulver) says:
Friday, April 26, 2013 at 09:03
Journalists, eh? Historically, other countries have produced great newspapers, such as the New York Times, Washington Post, La Monde, the Times / Telegraph / Guardian, etc etc. There is a reason why our most famous output has been the Dandy and the Beano.
But the only thing I’d question in Roddy Forsyth’s Telegraph piece is where he says “The fear is that Rangers could become a basket case a la Portsmouth to the extent that they might never regain their former strength.”
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Agree completely with your view of the Scottish press which in a generation has slid into a pretty putrid state. l’ll also agree with your comment regarding the Guardian and below is what it had to say about Portsmouth yesterday.
So, Mr Forsyth – what exactly is the problem with TRFC becoming a Portsmouth? Superficial nonsense from a journalist with some horrific previous – CVA agreed, Farry the super adminsitrator to name a couple.
From the Guardian 25th April
Portsmouth won at home on Saturday. Three-nil against Sheffield United. Good game, but it didn’t really matter. A 10-point penalty from the FA on account of their catastrophic finances meant their freefall from Premier League to League Two would continue unbroken. But for the fans it was something else. It was their first victory as owners. After administration had followed a series of overseas owners with no previous Portsmouth connection, Pompey supporters stumped up serious cash – £1,000 a share – and pulled in local businesses and the city of Portsmouth itself. They came up with a formula that satisfied the Football League and ended a 14-month spell in administration. Now it’s joined a small but distinguished band of clubs evading the curse of the exploitative proprietor. For Portsmouth, like Wrexham, it was a last gasp. But Premier League darlings Swansea are also 20% fan-owned. Maybe it’s not quite the Bundesliga. But give it time.
Interesting, if speculative, piece on Copeland around Ahmed/Green/Whyte and the much trailed court case . Goosey’s favourite pantomime horse Ticketus, makes an appearance
http://www.thecoplandroad.org/
I thought this maybe proves all the bears are not simple or stupid – From Rangers Rumours – an occaisonal place of sanity:
26 Apr 2013 00:51:40
While I was doing the maths regards what Rangers actual worth is, I pondered what Ally was actually on (and worth) this season.
Did you know Ally this season will pocket more than Roy Hodgson and Joachim Low and is more or less on the same cash this year as Ottmar Hitzfeld? That’s right the 18 trophy winning, twice Champions League winning Ottmar Hitzfeld is on the same dough as Scottish Division 3 winning Ally McCoist. The 31 day silence regards backing his squad is maybe a touch more understandable now, you’d have to be mad to rock the boat on that wonga.
Charles might not have heard the Champions League tune but he was paying Ally Champions League dough. Madness, utter madness.
Gaz
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1.) Ally is on £17800 p/w + bonus. His two stooges are each on £8900 p/w + bonus. Smith is on a lot more than the£50,000 salary that’s been banded about. a lot more!
Briggs
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2.) Gaz, gie it a rest. Take a night off. All this stress isn’t good for you.
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3.) Yup, and you wonder why it’s harder to get rid of him than a bad dose. When AMcC said “fully cleansed” I thought he was resigning. Unbelievable, even if Gers were at the top of Scottish football, that AMcC would be on that as a rookie. No wonder they went kaboom.
Will his contract be renegotiated? Or do we need a taxi driver to call him?
Shuggy
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Good Morning.
A number of years ago a group of business men of my acquaintance were considering doing some pretty chunky business with a PLC. The PLC concerned appeared to be well funded with institutional investors including HBOS and other financial bodies who had all thrown in some money to get the PLC business moving.
In turn, the PLC was in the business of part funding projects along with either individuals or companies who could also bring assets and or funds to the table.
So far- So good.
Well, these guys I knew wanted to get involved with them and participate in a joint venture which meant all the usual rigmarole of chunky documents being despatched from big respectable firms of solicitors ( who at the time were very Edinburgh based ) together with business planes and projections that were wheeled out by equally impressive accountants.
However, these were not the only people who provided the kind of investment that these businessmen were looking for, and having been to a few meetings and done some digging about I wrote to the businessmen advising that I thought they should avoid this PLC like the plague as I could not figure out how they would have any money left from what little I knew and besides I did not like the way that their “people” went about their business!
You could not see what they were doing, could not figure out what their true business model was nor see clearly how, when and why they would release the funds needed for the project at certain stages, and overall there were just to many unknowns for it to make sense to go into business with these folk at a level of millions of pounds.
For whatever reason, my advice was unheeded and the company concerned was chosen as the preferred funding partner— and of course as the funding partner they then gained a voice about how the business and the project was run.
Eventually, it became plain that they were a nightmare to deal with. They prevaricated here, did strange things there, and made no sense all over. It also became plain that whenever they signed up to a new project, their own line of funding increased via HBOS.
Well, of course, eventually the whole project floundered and those who had come to see me lost their assets and their money– and generally rued the day they chose to go down this road.
I do not say this to suggest that I am any all seeing sage– I just personally didn’t like the company that they wanted to do business with and I said so.
It would also be unfair to go on without saying that the overall bank crisis played a part in scuppering the whole project which remains derelict and unfinished to this day– a situation which was repeated up and down the country a thousand times over.
However, the purpose of this tale is to explain what happened next.
The PLC concerned was backed by the institutions and one of these– perhaps the largest investor was HBOS. HBOS is, of course, one of those institutions where the lunatics had taken over the asylum– and we are still reading about that to this day as it becomes more and more plain that the guys at the top were ego driven maniacs who have no place in banking.
However, eventually the guys at Lloyds came in and they brought with them a degree of pragmatism and the ability to solve a problem or two even if it would take some time.
The Lloyds guys looked at the PLC which mu guys had done business with and found that they did not like what they saw– they did not like it at all.— so much so that after a while they told the main director of the PLC that he had to go! They stepped in by way of their rights– they did not appoint a liquidator or an Administrator but literally exercised their “step in” rights all of which was done in private, away from the public eye and outwith the scrutiny of the courts– who oversee Administrators and Liquidators.
Lloyds then discovered that the project such as the one that my guys had was only one of thousands which had been run pathetically and wastefully– although it became clear that this had never really been discovered before because the PLC had been successful in constantly bringing on new projects and new sources of funding which covered up the fact that the company was crap at actually finishing and making money from its core business— it simply never appeared to make a profit on any individual project– and survived on blurb, positive press releases, and spin which brought in new business on the basis of the blurb that proclaimed the company was the greatest thing since sliced bread— although it clearly wasn’t.
So, the Lloyds guys binned all the Directors– kicked them all out with nice press releases that thanked them for their time and praised them for all that they had done– but which still meant adiós and don’t close the door on your way out!
That happened to all the Directors except two.
One was the main man– who was effectively retained but only in name. He was removed from his desk and took no part in the running of the business at all– but was technically kept there so that he could still be held accountable for everything that had happened from day one until the end of time.
The second was the Finance Director who, of course, had been and was responsible for all the machinations that lead to each and every project being funded and all the fundraising rounds with the institutions and others.
He may well have been excellent at his job in many ways, and may well have not been responsible for the idiocy of the project managers on each job, but at the end of the day, he was responsible for proper governance and ensuring the proper reporting on each financial project. This was a job at which he had undoubtedly failed miserably!
It may well be that the FD had been mislead by his Managing Director and by others within the company. It may well be that he had been negligent himself. It may well be that he was actually a pretty astute guy and had lost some money that he had invested. None of this mattered.
It will be years if not decades before Lloyds and the other investors get their money back if at all. They will have to work abandoned assets when the time is right to try and recoup losses over the course of years.
Meanwhile, the main Director still sends out a report each year which is prepared by his Finance Director– and it says all the right things in so far as it can— but the Managing Director gets very little money and has virtually no financial interest any more.
The FD on the other hand is well paid. So well paid that the nice bank helped him with a mortgage on a nice new house a number of years ago– a big house too— and he has all the trappings of a very successful FD– which to an extent he is.
However, he can never look at the jobs pages and consider applying for a new position because he is trapped– tied in with this business until such time as the mess is sorted out. Oh he can maybe walk away but if he does so then he has to guarantee personally certain returns and financial information for the business and it is all secured against his personal assets including the nice house and so on so he is well and truly trapped until every last penny is back in place– or at least as many pennies as the bank considers appropriate.
He cannot do walking away.
I tell you this story because eventually institutions and regulatory bodies will eventually catch up with those who want to play fast and loose with OPM— Other People’s Money. There is a reason why there is a network of regulations that surround what you can and cannot do with other people’s money.
Sometimes, it is a good thing to boot some directors out of the door– and there comes a time when some directors actually want booted out summarily so they can go on to pastures new having severed the ties with the old job.
However, sometimes, clever folk– and I mean genuinely clever folk— simply say to Financial Directors and Managing Directors who might be responsible for a complete mess– ” Sit down, take a seat till we work this all the way through, and don’t even think of leaving until we tell you to!”.
I am sure I recall a judgement from somewhere and someone which dealt with negligent directors performing their duties in the face of a crisis by saying “Doing nothing is never an option” or words to that affect.
It can be a funny old world being a Director of a PLC.
ianagain says:
Friday, April 26, 2013 at 10:20
Charles might not have heard the Champions League tune but he was paying Ally Champions League dough. Madness, utter madness.
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If you check the Rangers AIM Prospectus it seems clear to me that McCoist’s contract pre-dates, by a long chalk, Green taking over at Ibrox. In effect Green had a Tupe situation with Ally that couldn’t be broken.
Obviously there comes a time when Tupe no longer applies because of the passage of time and it may well have been that a natural break might have been possible at the end of this season allowing the contract to be renegotiated given the dire financial situation at Rangers.
Possibly Green had had preliminary discussion with McCoist who perhaps was offered more shares to make him swallow a 50% wage cut. But perhaps McCoist wasn’t persuaded as to what the future value of those shares might be.
There was also the very well-organised Ally must go campaign similar to other ‘campaigns’ which have been mounted on Rangers fan sites since the consortium took control. I truly believe we have seen an absolutely unprecedented PR exercise undertaken to ‘mould’ the thinking of Rangers fans to suit the plans of the mystery owners,
So, to protect Ally who really was and may still be on a very shaky peg with the fans and Mather’s cost-cutting, then it’s hardly surprising that Cardigan came riding to the rescue. Strangely, just like Green, it might actually suit Imran to depart Ibrox and no doubt renew his friendship with Green in a new business venture.
ecobhoy says:
Friday, April 26, 2013 at 10:49
If you check the Rangers AIM Prospectus it seems clear to me that McCoist’s contract pre-dates, by a long chalk, Green taking over at Ibrox. In effect Green had a Tupe situation with Ally that couldn’t be broken.
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It’s been asked many times but it’s fundamental – why wasn’t this dealt with in the Administration process?
BRTH
Lets hope the FD never has to get a bus to work, even one where you love the name
blu says:
Friday, April 26, 2013 at 11:00
ecobhoy says:
Friday, April 26, 2013 at 10:49
If you check the Rangers AIM Prospectus it seems clear to me that McCoist’s contract pre-dates, by a long chalk, Green taking over at Ibrox. In effect Green had a Tupe situation with Ally that couldn’t be broken.
============================================================
It’s been asked many times but it’s fundamental – why wasn’t this dealt with in the Administration process?
============================================================
I don’t think D&P made anyone redundant so all contracts of employment were tuped to the new owner. As to whether D&P acted correctly in a professional and legal manner I would say that a number of people are currently looking at that question.
I personally don’t have access to the information to make an informed judgement although I do have an emotional gut-feeling that the creditors were shafted to make money for spivs.
I should really have said all contracts tuped to the new owner in a ‘technical’ sense because it seems clear that a number of failings in the process involving D&P and the new owner meant that the ‘transfers’ didn’t actually take place in a legal sense.
And that was before we even learnt about the current problems facing the legal status of Sevco 5088 as possible owners which has yet to be resolved.
Interestingly, and I missed this to an extent at the time, the Players Union in their argument against the Compensation Tribunal on the walk-away players did seem, from memory, to heavily rely on the status of Sevco 5088. I will really need to find the time to look at that again because if my memory is correct it’s another possible strand which supports the CW position.
ecobhoy says:
Friday, April 26, 2013 at 11:10
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Droll.
Henry Clarson says:
Friday, April 26, 2013 at 06:55
Henry, we have crossed swords in the past and it was over the same two-dimensional nonsense. You hate Rangers and you hate Rangers fans, that much is clear. The generalisations you make pretty shameful, from someone who is clearly articulate. That kind of Dark Ages thinking where everything is either the work of God or the work of the Devil (Rangers) does you no favours.
I have no wish to get into a slanging match, I just hope you will give your posts a bit more thought before clicking the “post comment” button. There are Rangers fans out there who buy accident of birth are what they are – ordinary guys like most of us, working guys with families, who happen to support the team of their Forefathers.
Good piece, demolishing yesterday’s Lego in Wonderland effort
http://scotslawthoughts.wordpress.com/2013/04/26/mr-leggat-thinks-wrongly-that-conviction-of-mr-whyte-would-mean-rangers-last-2-years-never-happened/
And thanks for loading me up with an image of the man with the wee white bricks in the shower, going to need therapy now!
Brogan Rogan Trevino and Hogan says:
Friday, April 26, 2013 at 10:35
Brilliant, your posts are always a joy to read – insightful, articulate, and always with a mischievous edge.
Keep up the good work!
If this is circle almost complete (operation ditch the debt). A recital of the WATP stuff from last year, to complete the Spithead mutiny of this week, then on to reconstruction it is.Full steam ahead for the silent partners at Hampden HQ. All in time for the gullible to still believe they are the victims. BDO and the polis will do nothing until they get the nod to proceed.
Roll on the UTTT, although I suspect a precedent has been the agreed outcome, but at least it should make for some good reading. This time can I suggest swapping colours, for fictional characters in the redaction as this is nothing more than an attempt to convince non of this ever happened. And with the addition of Mr Green and Whyte it is all becoming a bit complicated.
ecobhoy says:
Friday, April 26, 2013 at 11:18
I remember a throwaway from Phil Mac (yes, I know), to the effect that the power supply contract for Ibrox etc may have been with SEVCO5088. Didn’t pay much attention at the time, as it was never mentioned again, but Corsica1968’s reminding me of the STV story has eventually dredged it up. Maybe something, maybe nothing, but sorting out heat and light would be among the first things done…..
valentinesclown says:
Friday, April 26, 2013 at 09:58
Henry Clarson
The Demise Of Rangers FC: Craig Whyte has the deeds Bomber
http://t.co/Do4ef7SVQtZ
__________________________________________________________
Have added comments at the site linked but the conclusion being drawn is tenuous.
To suggest a link between parties because the both used Jordans for company formation is too contrived.
Mr Murray, the appointment of Mr Mather may not actually be quite what you need…..
Here’s someone with what’s probably very relevant experience that you should maybe give a quick call to check availability over the next few months ….
Bryan Jackson
Partner
BDO
City Point
65 Haymarket Terrace
Edinburgh EH12 5HD
Telephone: 0141 4295900
http://www.bdo.uk.com/find-a-partner/bryan-jackson
Biography
Bryan has 32 years of Corporate Recovery experience dealing with all types of businesses including the successful conclusion of the administration of four Scottish football clubs: Clyde, Clydebank, Dundee and Motherwell. He was also the administrator for the retailers USC and the Gadget Shop. He has been a partner since 1985 and has lectured extensively for ICAS, government agencies, the Fraud Squad, the Consumer Credit Association, business clubs, and debt counselling bodies. He reviewed Professor McBride’s book on bankruptcy and was an examiner for 3 years in Scotland in personal insolvency with regard to the Joint Insolvency Exams. He is a member of the Institute of Chartered Accountants of Scotland (ICAS), Chair of ICAS’s Insolvency Committee, a Fellow of the Association of Business Recovery Professionals, and a member of the Institute of Credit Management. Bryan was appointed Joint Administrator of Portsmouth Football Club on 17 February 2012.
Galling fiver says:
Friday, April 26, 2013 at 11:31
Maybe Rangers should take heart from your Spithead mutiny analogy. Dundee Admiral, Adam Duncan, took his mutinous fleet to sea and gave the Dutch a dammed good thrashing at Camperdown. (Using, incidentally, tactics worked out on a Midlothian curling pond, by a chap who had never been a seaman)
Big Pink says:
Friday, April 26, 2013 at 09:02
===========================
I think what is underestimated is the power of prejudice and ‘tunnel vision’ thinking. There are plenty of instances down through history of very intelligent people doing stupid (and even bad) things because psychologically they have blind spots which stop them seeing what is obvious even to not very bright people. Football supporting is a very emotional commitment for many people so we shouldn’t be surprised that such blind spots abound in this field.
I’m minded of the story of the great French mathematician (whose name I forget) with the hobby of collecting autographs/holographs of famous historical people. He bought a collection of letters supposedly between Caesar and Cleopatra, the first which began, “Ma chere Cleopatre”
I thought Bryan Jackson would have been given the original administration gig.
He seems to be the go to guy for football administrations in Scotland.
Though maybe his particular brand of realism and honesty would not have been fit for purpose.
chipm0nk says:
Friday, April 26, 2013 at 11:55
None of the Scottish IPs would touch it with a barge pole, kids, windows, cars, need one say more?
http://www.eveningtimes.co.uk/rangers/light-blues-chief-is-fan-of-academy-122456n.20913086Light Blues chief is fan of Academy
By CHRIS JACK
BILLY Kirkwood hopes Craig Mather’s appointment as interim chief executive will have benefits for Rangers’ youth academy. He has now been given the top job at Ibrox after being named as Charles Green’s successor in the boardroom.
Youth boss Kirkwood said: “Craig has been in and about the place before he got appointed. He has been up at the Academy quite a lot and shown a lot of interest. We are looking forward to keeping that relationship going. He has shown an interest in youth development, that is where he wants to be.
“He has got a sports management company, he has got a Manchester-based academy where he gives young players an opportunity after they have been released, so he has got his finger on the pulse. Hopefully, that gets brought to Murray Park and Rangers. He has got the freshness and eagerness to work well and do well with us.”
======================================================================
One can only wonder what planet MSM are actually on.
I thought Mather was actually appointed Director at Auchenhowie more than 6 months ago so it would not be unexpected that he would be there although other recent newspaper reports raise an attendance issue.
However I really wonder whether Craig’s focus is still firmly on youth development and that train set could be put in the box as he tackles the real life issues such as who is really driving the Ibrox train and whether the station will ever be built as promised by his predecessor.
He will also, of course, working with McCoist have to work-out the meaning of the lights at the end of the tunnel and whether they are coming or going.
One thing I didn’t know was that Mather has a sports academy in Manchester. But he certainly has global aspirations in that area.
In my above post should have added. So what you see from the Rangers support isn’t because there are no smart people amongst them, there are. It’s just that emotional ties make it difficult for them to see clearly and it must be even harder when they see the state their club is in.
“Can’t stop laughing @corsica1968 2m
1/3 My sources include 4 bank CEOs, 3 £1bn+ property CEOs and a Blue Knight. 2/3 Adamant there is no £22m & institutional investors are a front. Big trouble brewing over accounts. Will be lucky to see out May 2013. 3/3 RT from y/day: they all know going to go bust again. Options: Murray or Mather find short-term finance quick, DCK comes back, or death.”
beatipacificiscotia says:
Friday, April 26, 2013 at 11:20
Henry Clarson says:
Friday, April 26, 2013 at 06:55
Henry, we have crossed swords in the past and it was over the same two-dimensional nonsense. You hate Rangers and you hate Rangers fans, that much is clear.
===========================================================================
Although it may not be to your liking, Henry is merely calling a spade a shovel.
chipm0nk says:
Friday, April 26, 2013 at 11:55
I thought Bryan Jackson would have been given the original administration gig.
He seems to be the go to guy for football administrations in Scotland.
Though maybe his particular brand of realism and honesty would not have been fit for purpose.
—————————————————————————————————————
Being a Dunfermline fan I can safely say he knows how to cut costs. The axe was needed and he swung it immediately.
Since he has come in
The 9 highest earners have gone
2 of the owners daughters on (comparitavely) huge wages have gone
The in house catering has been scrapped and Stephens have come back in
No glossing around the edges and no false promises. No whinging about the punishments/consequences of administration just plain hard work from him.
There is a very real chance that we wont get out of the situation but it certainly wont be becuase of a bodged job by a questionable administrator.
zerotolerance1903 says:
Friday, April 26, 2013 at 11:46
3 0 Rate This
valentinesclown says:
Friday, April 26, 2013 at 09:58
Henry Clarson
The Demise Of Rangers FC: Craig Whyte has the deeds Bomber
http://t.co/Do4ef7SVQZ
__________________________________________________________
Have added comments at the site linked but the conclusion being drawn is tenuous.
To suggest a link between parties because the both used Jordans for company formation is too contrived.
+++++++++++++++++++++++++
I was going to post earlier on this, but my train went into a tunnel or something. Tenuous is exactly the right word. Jordans must create many thousands of companies every year. Any link which includes them is, in my view, tenuous.
I really don’t know who has the deeds (sorry bomber!) it may may well be Whyte, King or maybe even Sir David Murray. It won’t be Green, though, he’s just a front for some real money men. Although it could be his wee p–i friend. Who knows?
Today is Friday, the traditional day for releasing bad news on the Stock exchange. There will be no real news until just before close of business on the sock exchange. There may be no news at all today. I know nothing, but I’ll be watching as the markets close!
And finally- is James Traynor really being paid a huge salary for the garbage he’s putting out? Why?
The birth of Third Rangers now appears to be inevitable..MSM have been “trailing” exciting new consortiums and the need for club cleansing for over a week now to soften the blow.
It’s a logical next move and follows the “spiv playbook”…….lets take this company private again and avoid any need for “audited accounts” this year, and any outstanding investigations will eventually “run into the sand”.
AIM was just another opportunity to grab some “easy fan cash” (double dipping to make up for reduced season tkt money in 2012) whilst muddying the ownership waters further with multiple institutional investor blocks of shares.
Where’s Wally?….as the fans are in turmoil and need a “well kent face”.
Maybe rehearsing his “I have a dream/St Crispens Day” speech…….expect highlights on a theme of the “darkest before the dawn” and emphasising the “futures” bright etc.
Of course I could be wrong… as the “spiv playbook” just has so many as yet unexplored options for a asset rich entitiy with a loss making operating company that has an unusual cashflow profile.
“Today is Friday, the traditional day for releasing bad news on the Stock exchange. There will be no real news until just before close of business on the sock exchange. There may be no news at all today. I know nothing, but I’ll be watching as the markets close!”
Breaking news: LSE site down following denial of service attack. Police investigating what appears to be a coordinated campaign by half of Scotland’s population hitting F5 continously. Better Together are blaming cybernats, Yes campaign blaming Bitter Together…….
….. but we know it was neepheid!
Sock exchange! Oh dear, must get back to a keyboard soon!
valentinesclown says:
Friday, April 26, 2013 at 09:58
Henry Clarson
The Demise Of Rangers FC: Craig Whyte has the deeds Bomber
http://t.co/Do4ef7SVQtZ
=========================================
May I just point out that the article above has got nothing to do with me other than the fact that I RT’d a tweet which linked to it?
Like many people, I often RT tweets which I think other users may find interesting.
That doesn’t necessarily mean that I’m endorsing their contents.
In this particular example I followed up the RT by noting that @Barcabhoy1 had said, “Jordan’s are registration agents. Linking them and Whyte is like linking 2 people who buy a paper in WH Smith. Not relevant”
arumourinafrica says:
Friday, April 26, 2013 at 12:45
=======================
It’s a shame it has had to happen this way, and I feel sorry for you and your fellow fans. However as you say it is reality, and if you don’t manage to come out of it intact it won’t be because he didn’t do his job properly.
On the plus side he will also fight for you to try and save the club, and he will be able to try it from a position of strength by clearly demonstrating the club is doing everything it can to cut costs and make itself viable again. If anyone can manage to do it I think Mr Jackson is that man.
Good luck and try to keep positive, you never know what may be achieved.
What’s the traditional day for the SFA to release bad news? The day after the season end me thinks?
Joking apart has anyone spotted any instances yet of rules bent (calm down, wait till you hear the end of the question), then tightened “to prevent a situation like this arising again” that may yet bite them on the proverbial should Third Rangers become a reality?
Go on someone, make my day even better!
Scapa,
They are definitely heading into Portsmouth territory, bloated and not happy about conditions and leadership, but more red herring than stinky kippers. It’s all about the money, an ideal time to have one or two of their own at the helm, to milk the average bear, again.
Maybe there was a price to pay for not having an ebt, maybe running out of dupees, I think you get banned from future involvement if the company goes bust on you’re watch. Great walk away pardon.
It’s all getting messy, and they seem to be hacking away at the Hull. Scuttle, has oxford and urban context also and fits with what is happening to the club and it’s followers. I offer no encouragement to the bear, you overestimate me.
Galling fiver says:
Friday, April 26, 2013 at 13:41
The analogy I would use, is that of the scabby Greek tramp steamer, that “sinks” with “valuable” cargo aboard, and once the insurance is paid out, reappears with a new coat of paint, name and registry, but the real owners remain the same, hidden behind nominees in multiple layers of offshore shell companies. Shame about the crew though…..
Corsica1968, suggesting that Dave King has already been pre-cleared by the SFA, If true, it would mean that they have been at the Lewis Carol version of the rule book again, but sadly, it would be in keeping with their behaviour thus far.
nixonwhytewashing says:
Friday, April 26, 2013 at 13:02
—————————————
You can take a company private but if you are a football club, those accounts still need to be audited and filed, that’s the rules of the football associations. No getting away from it, particularly if you have European aspirations.
I do have some sympathy with Rangers – what other business is repeatedly/daily asked how much cash it has in the bank?
If one was to ask that of Peter Lawwell, or Stewart Gilmour, they would say “none of your business unless you are a shareholder and even then you will need to wait until the next trading update.”
Of course we know why the question is being asked but I can understand why they gave the bland answer they did.
What was also interesting is that Malcolm Murray & Craig Mather each did a puff interview with some guy on Rangers TV on Wednesday and Rangers then tried to release the interviews to the broadcast media to put on the national news.
The BBC and STV completely ignored these tame efforts and politely asked for 1 to 1 interviews with these two guys, Strangely the request was refused.
Great PR by whoever is in charge down there.
I know football fans, and clearly some football clubs, bandy about all sorts of numbers on player wages, values and turnover. The most common number used on this forum recently is the suspected £1m loss per month by our friends at Edmiston Drive. I’d like to put that number into context to show just how serious a situation this is, if true, for TRFC.
UK Average Salary is around £31,000 per annum. Rangers annual loss would be equivalent to 387 people on an average salary. 387. That’s nearly 8 coach loads of football fans.
A basic Ford Focus costs around £14,000. Rangers could buy 856 cars, give them away for free and still be better off than losing £12 million a year.
A tank of fuel for the same Ford Focus holds 53 litres. At £1.35 per litre, Rangers losses could fill up the tank 167,715 times. At 400 miles per tank you could drive to the moon and back 140 times.
It could also buy you 1 Tore Andre Flo but that really would be a waste of money.
This eye watering amount of money being lost has so far eluded the attentions of 3 CEOs and An insolvency practitioner.
I read management accounts every month, I look at year end revenue and costs projections monthly, I review performance against budget weekly. I take action if things are going awry. That is how businesses operate.
I find myself agreeing with Chris Graham that Rangers are the same club, because they are most certainly not a business.
therampantbaron says:
Friday, April 26, 2013 at 13:59
What was also interesting is that Malcolm Murray & Craig Mather each did a puff interview with some guy on Rangers TV on Wednesday and Rangers then tried to release the interviews to the broadcast media to put on the national news.
The BBC and STV completely ignored these tame efforts and politely asked for 1 to 1 interviews with these two guys, Strangely the request was refused.
Great PR by whoever is in charge down there.
+++++++++++++
I think we all know who is head of PR at Ibrox. Is it all getting a just a wee bit too much for him, do you think?
People speak of Dave King taking over, however how much money do you think he would be willing (and able) to put in.
Oh and exactly what would he be taking over, would it be the PLC (holding company) or the Ltd Company (club).
Once he did that, what would really have changed, there would just be a new (partial) owner. Would he then lend the business money, he certainly wouldn’t be gifting it. How would that make the business model any better.
monsieurbunny says:
Friday, April 26, 2013 at 12:02
It’s just that emotional ties make it difficult for them to see clearly and it must be even harder when they see the state their club is in.
—————————————————————————————————-
Emotions are one thing, but with this situation, we really are witnessing the boiling of a frog. As Barca points out with his analysis of Rangers Standard, where is the critical perspective? Perhaps we should not expect to find it on FF or RM? Then the RS appeared, with a noble mission statement, and a few articles exploring some big issues; the Anglicisation of the Club, under Murray, or the wider perception of the club, even the sectarian baggage that clutters Ibrox. The initial promise of that site has not been followed up with any meaningful critical grasp of Green and his cohorts….or Walter and his.
One the one hand RFC claim to be ‘more than a club’, I have tried for years to understand what they mean by this. There is this statement attributed to Bill Struth;
“To be a Ranger is to sense the sacred trust of upholding all that such a name means in this shrine of football. They must be true in their conception of what the Ibrox tradition seeks from them. No true Ranger has ever failed in the tradition set him.”
“Our very success, gained you will agree by skill, will draw more people than ever to see it. And that will benefit many more clubs than Rangers. Let the others come after us. We welcome the chase. It is healthy for us. We will never hide from it. Never fear, inevitably we shall have our years of failure, and when they arrive, we must reveal tolerance and sanity. No matter the days of anxiety that come our way, we shall emerge stronger because of the trials to be overcome. That has been the philosophy of the Rangers since the days of the gallant pioneers.”
“I have been lucky – lucky in those who were around me from the boardroom to the dressing-room. In time of stress, their unstinted support, unbroken devotion to our club and calmness in adversity eased the task of making Rangers FC the premier club in this country.
– Bill Struth
It begins and ends with an exclaimation of superiority, and a declaration of the clubs inability to fail. Much of this sounds hollow when placed in the present. ‘We welcome the chase. It is healthy for us. We will never hide from it’, instead we will employ spivs to come up with tax avoidance schemes that give us an advantage enjoyed by no others and when caught, rely on footballs administrators and their ‘unstinting support, unbroken devotion to our club.’ To ensure ‘we shall emerge stronger’……no this time I fear. The lack of any critical introspection will be what ultimately boils this frog.
hi…just a wee point about all this mess at ibrox and excuse my ignorance with this but if craig whyte IS involved in buying back the assets of rangers liquidation..surely that is illegal ?..surely the owner of a company that goes bust cant be involved…. in any way…with buying the assets of the company that went under ?…and this..of course..would lead to a “phoenix situation” which would make the whole liquidation process have to be reversed and creditiors would have a claim again against the born again company ?
.
please excuse me for my stupidity in this if i am talking bollocks about this…can anyone tell me where i am wrong ?
.
i can feel a headache coming on..away for a lie down…
http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=GB00B90T9Z75GBGBXASQ1
– brilliant, down a bit more
chipm0nk says:
Friday, April 26, 2013 at 14:04
Its way beyond business model, its about keeping them alive. They have very few options open to them if they need working capital, banks won’t lend, going to Ticketus would be hilarious, Mr King may be one of very few options available.Mr Ahmed and friends walk away with a couple of million each, but not tens of millions.
Then we have Rangers men back in control, Ibrox cleansed, and probably after a media house campaign, another share offering. Medium term, Mr King would swing a mean axe, but, only once his position is secured – at least that’s how it looks to me, your mileage may vary
I guess its one way of trying to control the news cycle, a Twitter press conference, I kid you not
@RFC_Official
Is the sock exchange home of the FTSE. i’ll get me hi-viz.
jimlarkin says:
Friday, April 26, 2013 at 14:34
– brilliant, down a bit more
——
Why “brilliant”, Jim?
Galling fiver says:
Friday, April 26, 2013 at 14:42
Is the sock exchange home of the FTSE.
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
…Yir darned right it is 🙂
Yes it’s Friday. Tried to break in to the sock exchange, but they had taken precautions, metatarredsill. Jaekit on.
During this short intermission in the fracas
Just to let everyone know that RTC has not been in touch with us just yet for a twopanda role in their book & film – so clearly bearing us in mind and just waiting for the appropriate moment.
[We`re down for the starring role as a couple of polis that gets the pleasure of nicking this lot of spivs 😉 ]
Oh dear even a twitter presser lands Mr McCoist in bother, the fans are not happy that he needs to strengthen his £7m or so squad to, er, win SFL2. Many cries of “Show me the money” and suggestions that he should cut his cloth.
Could Mr Mcoist be back on Question of Sport at the start of the new season?
twopanda says:
Friday, April 26, 2013 at 15:11
During this short intermission in the fracas
Just to let everyone know that RTC has not been in touch with us just yet for a twopanda role in their book & film – so clearly bearing us in mind and just waiting for the appropriate moment.
[We`re down for the starring role as a couple of polis that gets the pleasure of nicking this lot of spivs 😉 ]
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
With a possible supporting role for …wait for it …
…Maraih Carey, see what a did there :0
youtawknaboot says:
Friday, April 26, 2013 at 15:25
2 1 Rate This
twopanda says:
Friday, April 26, 2013 at 15:11
During this short intermission in the fracas
Just to let everyone know that RTC has not been in touch with us just yet for a twopanda role in their book & film – so clearly bearing us in mind and just waiting for the appropriate moment.
[We`re down for the starring role as a couple of polis that gets the pleasure of nicking this lot of spivs ]
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
With a possible supporting role for …wait for it …
…Maraih Carey, see what a did there :0
————————————
Iz dat coz she iz black 😀 (with apologies to Ali G)
I see Bomber has got the Dundee job on a two year contract.
Even he wouldn’t touch the forthcoming management position with Third Rangers.
“Rangers FC Official @RFC_Official 3h
AMcC – I have been feeling the frustration from the fans. To make a fresh start, we must have the results of the independent enquiry.”
===============================
Don’t know the full context in which above quote/summary was derived, but thought it was interesting nonetheless.
Playing for time and fresh start for team or club ?
“Rangers FC Official @RFC_Official 3h
AMcC – I have been feeling the frustration from the fans. To make a fresh start, we must have the results of the independent enquiry.”
================================
unless of course they show that Green and Whyte were in it together and that Whyte does own a share of 5088 and they own teh stadium and training ground – in which case, we really don’t want to know the results!!
That’s what amuses me NTHM
What good result do they think they can get from this. If the allegations prove to be true with regard Green and Whyte acting together will they go to the SFA and admit they got the licence based on lies. Or will they just keep it private in which case people will be able to reasonably infer it.
chipm0nk says:
Friday, April 26, 2013 at 16:23
That’s what amuses me NTHM
What good result do they think they can get from this. If the allegations prove to be true with regard Green and Whyte acting together will they go to the SFA and admit they got the licence based on lies. Or will they just keep it private in which case people will be able to reasonably infer it.
======================
Or, they will publish whatever is needed for the SFA to turn a blind eye to what is going on!
So has Imran Ahmed actually gone yet?
If he really is negotiating a nice juicy severance package, then as soon as he’s gone, and if we believe the IamRangers posts about his shareholding, he could then presumably call an EGM and sack the board that just got rid of him.
arabest1 says:
Friday, April 26, 2013 at 14:09
monsieurbunny says:
——————————————-
I take your point (and the frog boiling analogy is a very good one – they don’t notice they’re cooked until it’s too late) but don’t forget their blindness is also maintained by a compliant media who feed them nonsense. One of the supreme ironies of all this is the way that the media that had always blindly supported the club – contributed to the destruction of Rangers (and possibly Sevco too) by hiding the real danger the club was in and having a go at those who tried to tell it like it was.
Of course the loyalty of these guys was never to the club really but to the money men who owned it and so the supporters got lied to and told ‘don’t worry guys, this water’s tepid, it’s really good for you’.
monsieurbunny says:
Friday, April 26, 2013 at 16:44
arabest1 says:
Friday, April 26, 2013 at 14:09
Of course the loyalty of these guys was never to the club really but to the money men who owned it and so the supporters got lied to and told ‘don’t worry guys, this water’s tepid, it’s really good for you’.
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<,
I feel the rfc fakeover situation has much more similarities to the tale of the scorpion & the frog..constantly on rewind..many scorpions but how many more frogs FFS ?
monsieurbunny says:
Friday, April 26, 2013 at 16:44
1 0 i
Rate This
arabest1 says:
Friday, April 26, 2013 at 14:09
monsieurbunny says:
——————————————-
I take your point (and the frog boiling analogy is a very good one – they don’t notice they’re cooked until it’s too late) but don’t forget their blindness is also maintained by a compliant media who feed them nonsense. One of the supreme ironies of all this is the way that the media that had always blindly supported the club – contributed to the destruction of Rangers (and possibly Sevco too) by hiding the real danger the club was in and having a go at those who tried to tell it like it was.
Of course the loyalty of these guys was never to the club really but to the money men who owned it and so the supporters got lied to and told ‘don’t worry guys, this water’s tepid, it’s really good for you’.
——————————————
I think there is a sliding scale of Laptop Lapdog.
Those whose motivations are driven by a number of factors but who do indeed possess a personal loyalty to TRFC… Jangle, BFDJ, Andy McInness, Richard Wilson, Chick Young, Leckie etc.
Others who are in thrall to TRFC as the Establishment club and the resulting commercial imperative to ingratiate with that audience, including so-called “Celtic men” – Keevins, Burley, McLeod, Guidi, Walker etc.
They may be “Celtic men” (certainly not Burley) in so much as they took money to play for the club for a few years, but I am sure they experience not one second of internal conflict between any loyalty to the club where this conflicts with loyalty to their own careers and earnings as it so often would.
Then there are those who are indeed the direct puppets of Sir DM and his acolytes, although for legal reasons I am unable to think of any journalist resembling a Star Wars character who falls into this category.
rougvielovesthejungle says:
Friday, April 26, 2013 at 15:43
I see Bomber has got the Dundee job on a two year contract.
Even he wouldn’t touch the forthcoming management position with Third Rangers
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
DFC swiftly securing his services..? perhaps in the knowledge that he has been ahem.. recently "sounded out" by a n other clubs "representatives" ?
Meanwhile, League Reconstruction rises from the dead
http://sport.stv.tv/football/clubs/aberdeen/222707-first-division-clubs-take-lead-in-new-league-reconstruction-talks-with-spl/
Totally agree MB. The media bear a huge responsibility for their relentless lamb fueled sophistry. There is also a sense of karma, no other club would have been feather bedded, by the authorities, the media and the establishment generally, in the way RFC (and tRFC) have been. if someone had called them on their behaviour sooner things may not have gotten so far out of hand and RFC may have survived.
Celtic Paranoia (@CelticParanoia) says:
I always thought of Burley and McLeod as merely Rangers fans who ended up playing for Celtic, that pretty much explains their position…. maybe I’m wrong?
arabest1
do you mean a lamb korma or lamb karma?
…..I’ll get MY coat…
Forres Dee (@ForresDee) says:
Friday, April 26, 2013 at 16:39
0 0 Rate This
chipm0nk says:
Friday, April 26, 2013 at 16:23
That’s what amuses me NTHM
What good result do they think they can get from this. If the allegations prove to be true with regard Green and Whyte acting together will they go to the SFA and admit they got the licence based on lies. Or will they just keep it private in which case people will be able to reasonably infer it.
======================
Or, they will publish whatever is needed for the SFA to turn a blind eye to what is going on!
====================================
If, following their investigations, they think that Green & Ahmad fraudulently obtained ownership & control of the former Rangers Football Club assets from Whyte, the board must immediately report their findings to the police.
It makes no difference that Green (and possibly Ahmad) are no longer on the board. They were the “controlling mind” of the club when the agreement was reached. And since RIFC are beneficiaries of the alleged fraud, the board’s silence would in itself likely amount to a new criminal conspiracy.
I do not believe they would remain silent. I also believe they would have no option but to cease trading immediately.
On the other hand, if they find no evidence of fraudulent conduct and instead have evidence that Green & Ahmad have been working alongside Whyte, they must give this evidence to the SFA.
Since the 5-way agreement was made (we believe) on the condition that Mr Whyte was not involved with the new club, the only possible sanction would be termination of membership.
It is difficult to imagine how this particular new Rangers could start next season.
Of course, there will (probably!) be a new Rangers in the SFL next season.
HP
You forgot about the rule that states “that a membership is valid even if illegally obtained until the illegality is discovered. Even then a there is no case of looking at a retrospective punishment
“.
New rule just made up by SFA.
HP,
All you have mentioned really does depend on those involved doing the right thing, not something those in the ‘Big Hoose’ are renowned for doing!
I, however, await to be amazed.