The Continuing Voyage of Scottish Football – and the Wrath of Khan


Paulmac says: August 23, 2012 at 15:28 .”when the court was …

Comment on The Continuing Voyage of Scottish Football – and the Wrath of Khan by scottyjimbo.

paulmac says:
August 23, 2012 at 15:28

.”when the court was deciding whethere to appoint the HMRC admin team or CW’s choice and it looked like it might go to HMRC…it’s the first time I’ve seen genuine panic on his (CW) face”…

That sentence is the most critical in this farce. If MBB hadn’t got his way there, then everything since would have been totally different. It would have been a normal administration/liquidation where creditors came first and not this shameful charade.
Everything points to Green/Octopus having some kind of arrangement with MBB prior to this date, the question being how far prior.
I believe the MBB involvement was to put distance between the old club and the new club “burying” some undesirable discrepancies in the old company in the process. Is it possible the involvement of Mr. Grier was to set up the Ticketus deal with MBB thus allowing the charade, but with secure fall back positions in the event of administration/CVA, or finally, liquidation. But they needed the corpse.
The critical moment was the selection of auditors. Without these auditors, Green/Ticketus were not “guaranteed” to inherit the corpse at a reasonable price, and without the corpse everything was gone. I am reluctant to suggest conspiracy, but it was very, very, very convenient that Duff & Duffer were appointed, and have since run the “most unusual” administration without any form of intervention by any of the statutory bodies.

scottyjimbo Also Commented

The Continuing Voyage of Scottish Football – and the Wrath of Khan
On Sportsound. Why was Black boo’ed when he came on? Concensus after 5 mins was it was banter between him and the Hibs fans in the crowd. Did they ask any of the fans themselves? Of course not. That would probably have revealed the true reason why. Now we don’t want the truth out there now, do we Mr Dodds. Switched off in disgust.

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The SPFL— the case for revolution, evolution and a case of the Hamilton Whackies !
pilgrim1888 says:
July 4, 2013 at 9:28 pm

” ……. Does Mr Doncaster not realise how foolish he sounds when he talks about openness and transparency and yet refuses to disclose these figures. ……”

Mr Doncaster only, allegedly, follows the wishes of his members. He is not refusing to disclose the figures, It is the member clubs that are telling him not to do so. Why are they keeping stum on tv deals and especially the 5-way agreement? Because they must have something toxic to hide. The question we should be asking, is, “Are the clubs up to their collective necks in this conspiracy as well?”

The SPFL— the case for revolution, evolution and a case of the Hamilton Whackies !
Castofthousands says:
July 4, 2013 at 3:44 pm

Is it maybe simply CW looking around for a compliant administrator. Draw up a list of potentials, quietly ask them what they think of a hypothetical situation, then suggest that this is what they would like to see. Cross off the list the ones that don’t give you the “right” answers.

The Existence of Laws
Noticing some TSFM like digging on RM lately. Some posters do appear to have their head out of the sand and are willing to put it above the parapet. Regarding Charlie’s proposed share sell to Laxey.

Recent RM post on Laxey possibly indicating trouble ahead.

” ….. Another outfit that stirs up trouble in the hope of making a profit is Laxey Partners. Headed by Colin Kingsnorth, Laxey has a succession of victims on its belt, including British Land, where it tried to unseat the property giant’s then head, Sir John Ritblat. Laxey’s ownership can be traced to the Isle of Man but the firm works out of a small office in Jermyn Street. The object of its latest assault is Hirco, the AIM-listed Indian property developer. Hirco is run by the wealthy Hiranandani family.

Laxey holds 10.05% of Hirco and QVT, a fund with which it is closely linked, also has 4.95%. Kingsnorth has called for an emergency shareholders’ meeting to change the seven-strong board. He is demanding that Niranjan Hiranandani, the chairman and father of Priya Hiranandani, the chief executive, resigns and that four “independent” directors are appointed.

It’s not clear what his game plan is but it would come as no surprise if Kingsnorth was pressing for the quick sale of Hirco properties.
He’s argued against what he perceives as the lack of transparency and governance within Hirco. However, of the four new “independents”, one is Andrew Pegge, his Laxey co-founder, another is Michael Haxby, a Laxey executive. A third, Aled Rhys-Jones, runs Celtic Asset Management. Celtic’s chief financial officer, Christopher Bruce, was Laxey’s CFO between 2001 and 2007.

In Switzerland, Laxey is embroiled in a row about secret stakebuilding in Implenia, the country’s biggest building services group. Between late 2006 and 2007, Laxey used different banks to “warehouse” contracts for difference in Implenia. Under Swiss law, holdings in derivatives are subject to the same rules of disclosure as normal shares. Laxey, which denies any transgression, could face criminal prosecution.
Hirco does not need lectures from Laxey. And if we’re serious about the City learning lessons and moving forward, we should take a long, hard look at Laxey and its fellow activists. …..”

Seems like a good business fit for TRFC.

The Existence of Laws
Danish Pastry says:
Monday, June 3, 2013 at 07:12
Carfins Finest. (@edunne58) says:
Monday, June 3, 2013 at 06:37

I was perusing Richard Wilson’s article lately and one paragraph stood out,
“The share price has doggedly held at around 55p, and potential buyers have been watching with interest. The balance being struck is between waiting for the share price to fall to a value closer to Rangers’ true worth – around 40p – and waiting for the financial reality within the club to bite. Former director Dave King is monitoring events …………. “

With some of the share lock-ins shortly to be released, many on here expect volume selling with subsequent share price falls. I have no idea as I have no stock market experience.
The original investors, according to Charlie, have already been paid back, so they won’t lose anything. The privileged people on “1p” shares will make a good profit at whatever price they go to. So the only people shafted are the ones that paid 70p. I.e. The bears and some irrational institutional investors.

In real life what we seem to be getting closer to is the doomsday scenario, for the SFA at least, of TRFC going to the wall again. Several posters have commented how obvious this is, with no attempt to prevent it happening. In fact it is so obvious, is it planned? Is it being manipulated to be so bad? So, it will be Armageddon once more for Scottish football. The cries of woe will be heard rising once more. We can’t survive. What will we do? Someone has to take over for the good of us all, now!

Then out of the blue the saviour, Dave King, (or will it be King Dave?) ride’s to the rescue, the MSM lauded hero of the hour, flush with his recently bought “cheapo shares”. Fit and proper person? Of course he is. He’s saving Scottish Football from Armageddon. Without him we’re doomed. Cue “roll over of SFA” to placate the howling masses orchestrated by the MSM.

Of course this is just another wild speculation based on financial ignorance with no solid information, just rumour. In the tangled web of the TRFC story it’s just as good as any of the other ones.

The Existence of Laws
barcabhoy says:
Wednesday, May 29, 2013 at 10:32

With today’s general reluctance for some people to pay their bills, perhaps a “no win, no fee” deal is perhaps the safer way for lawyers to proceed if they want paid. I am quite sure Mr Whyte, though, would settle any bills in a timely manner.

As the adverts usually say “We claim our costs from the other side”. That has to be safe, shirley?

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