The last 12 months has seen a lot of water pass under the bridge. For a newcomer it is very hard to see past what the MSM are currently printing – I hope this article will go someway to rectifying that, and allow those who didn’t follow this story from the start to get a basic understanding of the views that have been formed on Rangerstaxcase.com and on TSFM. Further, I hope it refreshes the memories of those of us who have followed the saga since the early days and focuses our attention on asking key questions that remain unasked or unanswered.
I have provided links where possible throughout the time line. I have also highlighted in red where the story seems to end, a question remains unasked, or no answer has been forthcoming. I may also have missed some critical points – feel free to mention these and we can add as we go.
The Rangers Saga as it happened…
June 2001: Christian Nerlinger joins Rangers. Little be known to the rest of Scottish football he will be the first player paid by an EBT (an Employee Benefit Trust) which will later be declared illegal (as administered by Rangers) by HMRC.
Summer 2004: Jean Alain Boumsong rejects English Premier League sides to sign for Rangers on a free transfer. Six months later he is sold (January of 2005) to Newcastle in an 8million deal . This deal is later investigated by the City of London police who raided Newcastle and Rangers in June 2007.
A later report from Lord Steven remarked:
“There remains inconsistencies in evidence provided by Graeme Souness – a former manager of the club – and Freddy Shepherd – apparently acting in an undefined role but not as a club official – as to their respective roles in transfer negotiations.”
April 2010: HMRC hit Rangers with a tax bill of 24m before penalties for non payment of taxes on monies remitted to players and staff via the EBT scheme.
27th March 2011: A new blog appears on wordpress named ‘Rangerstaxcase.com’. Little did we know the impact it will have on Scottish Football.
6th of May 2011: Craig Whyte buys Rangers FC PLC for 1gbp from David Murray, with his holding company Wavetower taking over 85% of the Football club.
Mid-May 2011: Craig Whyte renames Wavetower to the ‘Rangers Football Group Ltd’, the holding company for Rangers FC PLC. He immediately claims he has cleared the Rangers debt to Lloyds Bank and is ready to invest in the team. He quickly removes Alastair Johnston and Paul Murray from the Board and suspends Martin Bain and Donald McIntyre.
5th June 2011: RTC uncovers a MG05 document filed at Companies House showing that Rangers have assigned 4 years of season ticket sales to another company. This is later denied by Craig Whyte, but later on turns out to be the mechanism by which Whyte funded the takeover.
19th June 2011: Craig Whyte is asked about the RTC blog, remarking:
“I’m aware of a website that has dedicated itself to talking about our tax case, I’ve looked at it. What they’re saying is 99 per cent crap”
August 2011: Rangers are knocked out of Europe by Maribor. A seemingly irrelevant event, but one that leaves a £15m hole in Craig Whytes budget. One that he meets by not paying the tax man. RTC questions in October where this money was coming from…
10th September 2011: Court papers from Martin Bain, related to his employment case against Rangers explode across the internet (papers in full here). Within them there is a plea from Bain’s lawyers to freeze the claimed compensation as they feel there is a question mark over the clubs solvency. Further it exposes the assignment of ticket sales to a 3rd party and shows that the debt owed to Lloyds Bank has not been discharged completely. RTC analysis’ of these ‘Bain papers’ is concluded with the following:
While Rangers’ supporters might not be in any mood to thank anyone for helping shed light on this situation, it is good for their club (if not its current and previous owners) that this information is in the public domain. It is especially good for our national game as a whole that we discuss the problems of the last decade openly. Rangers supporters need to ask themselves why they have meekly stood by while the future of their club has been imperiled and whether their “friends” in the media have done them an injustice by becoming complicit in the cover-up of this story.
Unfortunately, despite the information being exposed to all, the Rangers fans failed to listen…
October 2011: In the first mainstream feature on the case, the BBC air a documentary proving that Craig Whyte had been banned from holding a director position in UK companies for 7 years for ‘putting assets out of the reach of creditors’. BBC are banned from Ibrox and Whyte claims he will sue the BBC for presenting false evidence – but later admits that he was disqualified. Rather amusingly he admits this the same day he reveals Rangers have reduced their debt to 14m…. (they hadn’t)
The SFA stay silent on the matter and the writ received by the BBC in February 2012 has since vanished.
30th November 2011: Rangers PLC release un-audited accounts for the year 2010/2011 revealing profits of 2 million pounds and NET Assets of 76m. The accounts are NOT signed by an auditor leading to rumors all is not well in Ibrox.
January 2012: RTC explains in detail Succulent Lamb Journalism… the phrase becomes a defining point of the story, along with ‘internet bampots’, coined by Hugh Keevins.
18th January 2012: The ‘Big tax case’ concludes. We still await the findings…
13th February: Rangers file papers at the Court of Session giving notice of their intention to enter administration within 7 days…
14th February: HMRC petition the CoS to allow them to appoint administrators. After a short hearing, HMRC withdraw the motion and Rangers PLC promptly appoints the now infamous Duff & Phelps as administrators. On Valentines eve, Craig Whyte stands on the steps of Ibrox and announces to the angry mob the unthinkable… Rangers FC PLC is now in administration.
That evening it is confirmed that HMRC had pushed for administration over £9 million in unpaid VAT, PAYE and NI since the Whyte takeover. This later rises to 18m.
99% what Craig?
15th February 2012: The SPL immediately deduct Rangers (IA) 10 points for entering administration, as per league rules. Possibly the last time they follow their own rules throughout this saga.
Bizarrely, Rangers (IA) push ahead with the proposed signing of Daniel Cousin on wages of 7500GBP/week. The SFA make no comment, despite this being against the rules for a club in administration.
David Murray, in typical fashion, professes surprise at events which RTC warned about 12 months earlier while Murray was still in charge. Murray also says:
“Firstly, there has been no decision, and there is no present indication as to the timing of a decision, from the first-tier tax tribunal concerning the potential claim from HMRC of £36.5m excluding interest and penalties.
“Secondly, legal opinion on the strength of the club’s case remains favorable.”
21st February: Daily Mail confirm what RTC told us last year, by confirming that Ticketus bought 100,000 season tickets at Ibrox over the next 4 years. It was this money that Whyte used to buy the club. Rangers fans are up in arms. Even though they ignored the warnings a year earlier.
The SFA announce that Lord Nimmo Smith will chair an inquiry into the circumstances leading to administration.
25th February 2012: The Sun on Sunday launches by printing what they claim is a ‘side letter’ given to Rangers players. A financial expert tells them:
“Number one, you are going to get £122,000 and number two you get £1,200 for a first-team game.
“It equates to salary as far as I am concerned. I would say this sort of letter will be a central thread in the big tax case.
RTC will later confirm they are correct.
27th February 2012: The SFA confirm they will start an investigation into these ‘side letters’
3rd March 2012: D&P admit Rangers have no chance of making Europe next season, as they admit audited accounts by the 31st of March would be almost impossible.
However, in a baffling move, one month later D&P reveal they are ‘appealing’ the decision to ban Rangers from Europe. UEFA respond by saying
“Licence applicants must demonstrate that as at March 31, 2012, they have no payables overdue towards their employees or social/tax authorities as a result of contractual/legal obligations to their employees that arose prior to December 31, 2011.”
8th March 2012: Lord Nimmo Smith forwards his report to the SFA Judicial Panel. The report contains prima facie evidence that Craig Whyte was not a ‘fit and proper person’. A hearing is set for the 29th of March. This is later postponed at the request of Whyte. The full Nimmo Smith report has still not been released by the SFA.
9th March 2012: With no redundancies in sight, Rangers players agree to pay cuts, ranging from 75 – 25%. It is later revealed that these are not ‘pay cuts’, but pay deferments which must be repaid in the summer, otherwise Rangers will be in breach of contract. No info is forthcoming in the summer on whether this was paid or not.
5th April 2012: D&P reveal in their first creditors report that Rangers debts could top 134m, with HMRC claiming 93m of the total.
The report also details debts to football creditors of around 2.3m. It also details debts of hundreds of creditors, such as that for Susie Thomson – a face-painter from Glasgow owed 40quid. These were the real human losers in this story.
Interestingly, assets are valued at 116m, as per the 2011 accounts.
23rd April 2012: The SFA’s independent panel finds Rangers (IA) guilty of 5 different breaches of SFA rules relating to disrupte charges and are handed a 160,000GBP fine, the maximum available and a 12 month transfer embargo. The judicial panel state that the offenses committed by Rangers were only one step “lower than match fixing”, and reveal that they considered the punishment of suspension of license or expulsion from the SFA. They determine a fine would not be enough given the seriousness of the charges and thus impose a transfer embargo.
In the judgement, the panel make reference to evidence given by the Rangers Financial Controller who said invoices to Ticketus were such that they ” appeared as though Clip Art computer processes had been involved in their creation.” The FC tells the panel he had never seen them.
24th April 2012: The uproar from Ibrox is loud, with the Bears taking their anger out on the SFA. McCoist makes a rallying call, demanding to know “who these people are”. He makes an ‘apology’ the next day for putting their lives in danger, but stops short of apologising for forcing names to be released, despite his club previously voting in a motion to keep names confidential.
As a result, a poor director at Raith Rovers takes his family into protective police custody, and Raith are forced to hire round the clock security after arson threats to their ground. Finally, in August 2012, McCoist is charged by the SFA for his remarks. He has decided to challenge the charge and the case is ongoing.
Rangers blame the SFA for not stopping Whyte earlier, despite warnings before he took over from RTC.
“Why did the SFA not investigate when they said they had suspicions before Christmas rather than wait until the club went into administration?
9th May 2012: American tycoon Bill Miller walks away from a proposed offer for Rangers (IA) after being subjected to threats from the Ibrox crowd and discovering a “30 million black hole” in the Rangers accounts.
11th May 2012: Rangers reveal they will appeal the transfer embargo and fine imposed. The SFA inexplicably name the 3 man panel that will oversee the decision, going against SFA rules agreed by ALL clubs, including Rangers (IA).
13th May 2012: Reports suggest Charles Green, backed by a global consortium (still unknown!) has bought shares from Craig Whyte for 2quid. He is given an exclusivity period to propose a CVA worth 8.5m.
17th May 2012: SFA uphold the transfer embargo against Rangers (IA) . The SFA state that it was “proportionate to the breach, dissuasive to others and effective in the context of serious misconduct, bringing the game into disrepute.”
The Rangers Fighting Fund along with D&P announces they are paying a lawyer to challenge the SFA in the Court of Session. SFA say nothing.
22nd May 2012: It is now May, 3 months since the SFA/SPL announced an investigation into side letters and unauthorized payments to players from Rangers FC. RTC once again provides evidence of a ‘prima facie’ case by revealing details of Christian Nerlinger’s EBT letters.
23rd May 2012: BBC air a damning documentary revealing details of EBT payments and side letters to Rangers players since 2001. They also uncover emails showing that D&P’s David Grier seemed to have prior knowledge of the Ticketus deal. D&P and Craig Whyte threaten legal action, but none is forthcoming. The BBC also hint at payments made to managers not employed by Rangers at the time, including Graeme Souness.
29th of May 2012: D&P reveal their ‘CVA’ proposal. One that was doomed to fail, offering creditors little or nothing. It also revealed if it was rejected then the ‘assets’ would automatically be sold to Charles Green and Sevco 5088 for just 5.5m (the ‘new’ value of the assets. No evidence has yet been presented on how these ‘assets’ were valued.)
On the same day (seeing the pattern of bad news being overshadowed by good news yet?) Rangers ‘win’ at the Court of Session, with the court ruling that the SFA had no powers to give a transfer ban. They decide to refer the decision back to the SFA judicial panel to decide on a new punishment.
Lawyer Gregory Ioannidis remarks:
“If the Scottish Football Association decides to not take action against Rangers, in relation to Rangers submitting the application to the Court of Session, then Fifa can actually penalise the SFA, and the individual club, and the national team of Scotland, and impose an international ban on all of them.”
No action is ever taken by the SFA or FIFA.
12th June 2012: HMRC release a statement saying that they will reject the CVA. Given that they have over 25% of the debt, it makes the creditors meeting scheduled for the 14th irrelevant.
“A CVA would restrict the scope of such action. Moreover, the liquidation route does not prejudice the proposed sale of the club. This sale can take place either through a CVA or a liquidation, so the sale is not being undermined, it simply takes a different route.
“Liquidation will enable a sale of the football assets to be made to a new company, thereby ensuring that football will continue at Ibrox. It also means that the new company will be free from claims or litigation in a way which would not be achievable with a CVA.
“Rangers can make a fresh start.”
14th June 2012: The CVA is formally rejected. D&P immediately sell the assets to Sevco 5088 Ltd and Rangers FC PLC (IA) cease to operate as a football club. The assets are later assigned to Sevco Scotland Ltd. SPL rules state that a club that ceases to function as a football club should immediately relinquish its share and membership. This does not happen.
15th June 2012: Ian Hart denies being part of the Green consortium buying the Rangers assets. Green had earlier named him when pushed to name his backers
So starts the misinformation campaign from Sevco.
17th June 2012: Rangers FC are excluded from the fixture list for the forthcoming SPL season, replaced instead by ‘Club 12’. It is widely reported, that if Sevco Scotland are refused a place in the SPL, then Club 12 will be Dundee. The SPL give no reasons why.
17th – 27th June 2012: Walter Smith, Allan Stewart and Stephen McKenna, and then John Brown all turn up in the papers making ‘bids’ for the assets which Green has already bought.
22nd June 2012 – Lord Hodge seeks report from D & P re: a potential “conflict of interest”, after information given to him by the BBC.
25th June 2012: The BBC reveal that Sevco Scotland will not be granted admission to the SPL, after 6 clubs publicly declare their opposition, after season ticket sales fail to materialize as fans make their views known.
27th June 2012: John Brown stands on the steps of Ibrox and pleads with Rangers fans not to buy season tickets until Green reveals who are his backers and who owns Ibrox. This question remains unanswered. Brown is now silent.
4th July 2012: Despite weeks of pressure from the SFA, SPL and MSM, the SPL clubs reject the application from Sevco Scotland to join the SPL.
Stewart Regan warns of Armageddon for Scottish Football if Sevco are not admitted to SFL1 instead. We are still waiting.
5th July 2012: Stenhousemuir reveal details of a talk given to them by Neil Doncaster and Stewart Regan, where SFL clubs are threatened with bankruptcy if they don’t vote Sevco Scotland into Division 1. Figures presented are ridiculed by the internet bampots.
Clyde and Raith Rovers emerge as the cheerleaders for sporting integrity in the lower leagues, with both clubs openly speaking out against what they describe as “irresponsible”. Raith Chairman Turnbull Hutton suggests the SFL clubs send their mascots to vote on the proposal for Sevco to enter SFL1.
9th July 2012: the SFA refuse international clearance for players who decided to leave Rangers (IA) when the assets were sold, as were their rights under the TUPE laws. This decision has yet to be explained, and is contrary to legal advice.
Meanwhile, Sevco director Imran Ahmad, when asked what he felt was the exit price to sell Rangers/Sevco was, replied:
“On a bad day the club is worth £50m.”
Of course, they had just bought the club for just 5.5m, and still had no league place for the forthcoming season.
13th July 2012: Expiry of deadline for submission of report on D&P conflict of interest. News suggests that Lord Hodge is on holiday. No news has been heard since and the administration continues…
13th July 2012: Sevco Scotland are allowed to start life in the 3rd division, subject to gaining an SFA licence, after SFL clubs vote to reject the proposal to allow Sevco Scotland into the 1st division. There is no sign of Armageddon.
15th July 2012: FIFA write to the SFA asking for reasons why former Rangers IA players are having their registration transfer blocked. The players claim their free agents and have rejected the TUPE arrangements with Green’s new club. As of August Allan McGregor’s move to Turkey is still onhold as they wait on international clearance. We await an answer, as we suspect FIFA do to.
24th July 2012: Ian Black signs a 3 year deal with Sevco Scotland. It is unclear how he is registered or who he is contracted to.
9pm, 27th July 2012: Just 48 hours before the first scheduled match for Sevco Scotland the SFA grant an unheard of ‘conditional’ membership to Sevco Scotland. It is reported that Sevco Scotland have agreed to a 12 month transfer embargo, starting on the 1st of September 2012. They also agree to pay all football debts of Rangers (IA).
Sevco, playing in strips of Rangers (IA) defeat Brechin City in extra time to record their first ever victory. Ian Black plays as a trialist, despite signing a contract with Sevco Scotland earlier in the week. It is further unclear whether players are registered to Rangers IA or Sevco Scotland, and if the former, how?
31st July 2012: At an EGM of Rangers FC PLC (IA) the directors change the company name to Rangers 2012 (IA). At the same time Sevco Scotland pass a resolution to change their name to ‘The Rangers FC Ltd’. Companies house data shows that Charles Green owns more than 10% of The Rangers FC Ltd, despite his claims that no one person would own more than this. No one from the MSM thinks to ask this question.
3rd August 2012: The Rangers FC Ltd are granted full SFA membership, after having the membership of Rangers 2012 (IA) transferred to them. Under what rules this was possible is not clear.
ESPN follow SKY in agreeing a new deal with the SPL for TV rights. No sign of Armageddon yet.
15th August 2012: Dundee Utd in a short statement reveal that they have not been paid by Sevco/TRFC for the unpaid debt relating to last season’s Scottish Cup with Rangers (IA). Despite an agreement with the SFA to pay these debts, Charles Green blames the SPL for going back on a agreement made in May to pay this out of money owed to Rangers (IA). Dundee Utd, and other European clubs remain unpaid, as does the poor face painter from Glasgow.
It is unclear how the ‘conditional’ membership works if the ‘conditions’ have not been met.
STV further report that SPL clubs still do not know how much TV cash they are going to get from the new SPL SKY deal. The SPL make no comment.
17th August 2012: Lord Nimmo Smith is appointed to chair an independent commission into Rangers (IA) making undeclared payments to players from 2001 onwards. They are unlikely to sit before October.
22nd August 2012: ‘The Rangers’ announce they have signed a joint venture with Sports Direct for the merchandising rights. Companies House shows that the new company, ‘Rangers Retail’, is owned 100% by SportsDirect.com
23rd August 2012: There is still no word on who are the investors in Sevco Scotland. The SFA have not released any details to explain how Green passed the fit and proper person test. No details of proof that Sevco Scotland have the finances to last the season. The question of where are Ticketus is silent. Lord Hodge has still not returned his findings on a conflict of interest in the appointment of D&P. The FTT result is still awaited, just like BDO await the liquidation of Rangers 2012 PLC. Meanwhile, Stewart Regan resurfaces to announce details of league reorganization in time for next season, reducing Scotland to 3 leagues from 4.
Oh… and there is still no signs of Armageddon.
28th August 2012: Campbell Ogilvie finally breaks cover to talk about how league reconstruction was on the agenda long before Rangers ran into problems. He managed however to proclaim;
To be fair, nobody really saw the situation coming
Yes Campbell… just like you didn’t see the side letters.
—-
TSFM says:
August 27, 2012 at 01:13
Can you help me out here guys? The MG06s relates to a charge the Sports Council has over Murray Park – yes? There appears to be no amount on the form, so could that mean that the Sports Council could actually own the whole property?
Goosy, are you talking about another MG06s for Liberty Capital? If so, is it recorded anywhere?
………………….
TSFM
I am saying that on 6 July Sevco registered the Liberty Corporate floating charge over all RFCG assets This MG01 puts Liberty Corporate in the position of RFC asset floating charge holder if and when RFCG are liquidated
The Bizzy heading under which this was done was descibed as MG06s
go to
http://bizzy.co.uk/uk/SC425159/sevco-scotland
then
Click to see all 10 documents
The 2 documents under this MG06s heading are the Liberty Corporate / RFCG MG01 and an MG02 relates to a BOS charge
The issue is
Why are Sevco legally obliged to register the Liberty Corporate floating charge over
RFCG assets ?
It can surely only be because the liquidation of RFCG puts Liberty Corporate in the positionof Floating charge holder for the assets which Sevco bought from D&P
slimshady61 says:
August 26, 2012 at 23:59
The Iceman says:
August 26, 2012 at 21:35
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______________________
A reputable firm of accountants would be required to report on the past, present and future finances of the company raising the money. Whether that is Sevco or another newco being set up matters not a jot; no accounting firm worth their salt and acceptable to the London Stock Exchange would dare put their name to a set of projections for this makeshift outfit.
———————————————————————————————————
ss61, Iceman.
Recall the links to MHG (CW’s 18%), explored in various Paul McConville posts, and the appointment of Allenby Capital announced by MHG “The directors are pleased to confirm the appointment of Allenby Capital Limited as the Company’s Nominated Adviser and Broker with immediate effect.”
http://tinyurl.com/9exqou2
B Stockbridge was previously with Allenby and Grant Thornton, and is now of Zeus and “Rangers”. I don’t think CG will need to look far to get advice and brokerage for an AIM flotation.
I am not making any recommendation for or against the purchase of such shares. 🙂
The more things open up on this blog the more the surface is being scratched away at ,something has got to start appearing on what is under this surface and it is not going to be good for all involved in this murky affair,what is now becomming a question that if ticketus are involved in this and put their man in position back in Feb/March what kind of company are they and what other skulduggery could they be inolved in ,how many people do the have an investment with that they are calling in “favours” ,each tentacle of the Octopus company now needs looked at as the sting starts here ,this could also be a reason for what is happening at the SFA ,I would not be shocked to find a link with all involved but for different reasons ,the larva under this surface is not going to be nice ,maybe need to scratch with a bit more awareness of what we will uncover.Tinker ,Taylor ,Soldier,Spy.
Big Think Agency are helping Rangers in “there hour of need” (sic) 🙂
http://www.bigthinkagency.co.uk/#folio1 Click on Work and Rangers FC.
With reference to the named investors of the sevco directors, is it possible that these chappies are only in it for the money. This money to cover their original investment could these guys be the faces behind ticketus investment??
The sting could not have worked, unless Sevco was seen to be exactly the same as its predecessor
This is where the SFA/SPL/SFL came in
Now I don’t know what Green said to them, but the authorities very quickly legitimised and then anointed Sevco as the real deal, so to speak, and even agreed to the infamous history transfer
Without the blessing of the SFA/SPL/SFL, there would be poor season ticket sales, and little or no hope of a flotation
When all is finally revealed, none of the governing bodies are going to come out of this at all well, and I remain convinced that they have been involved from the word go
Goosy says:
August 27, 2012 at 09:43
When I click that link I only see one MG06, from July 5th. Is this the one your talking about? If I understood your email correctly there should be two MG06’s? I can only see the reference to one.
Fuzzynutz1888 says:
August 27, 2012 at 10:10
Well as they say -‘follow (follow) the money’.
Football club owners usually fall into a few major categories
Fan ownership
Local Business people who are most likely community minded and possibly life long fans
Individual Big Money Owners with egos and access to cash
Investment consortiums.
Investment consortiums usually want a controlling interest in the business/club to ensure their investment is being looked after.
Willing to be corrected but the current model being put forward by Green doesn’t appear to follow the norm.
Either the investors are, individually, taking a punt and hoping for a return (which should be worrying the Sevconians) or some are working together to protect a wider interest/investment (to which the Sevcoinians need to know who will end up controlling the club and what are their plans).
Next to the ‘Summary’ tab there is a tab that says ’10 Documents Available’.
redetin says:
August 27, 2012 at 09:48
—————————
R, I was not talking about NOMADs or brokers, you can enlist as many of those as you want.
The key to a listing is having independent reporting accountants who will review the financials and sign off any prospectus for the issue of shares. Without reporting accountants you can’t even start the process.
See http://www.londonstockexchange.com/companies-and-advisors/aim/publications/documents/a-guide-to-aim.pdf
I repeat, I do not know of any firm of accountants of sufficient repute who would take on an engagement of this nature with Sevco Scotland Limited.
At a time when the IPO of Direct Line (value £3BN) has been pulled, and at a time when the share prices of the newly listed Facebook and Manchester United are fast heading south (OK, I recognise that the last two businesses are tiny compared to Sevco with its illustrious, if newly-acquired history), what price a Sevco flotation?
There is more chance of Julian Assange opening the Paralympics.
Can anyone clear up a what the position is with any players who were attached to rangers at the time of the Brechin game.
These players must have been registered to some club to allow them to play, then after that game the ”new” club was formed and all the players were registered to THE RANGERS.
Does that not mean that all these players have been registered by two clubs already this season and none of them can be transfered until next summer?
Also when does last season end and the new season start?
If the old season ended with the last game of the season and the new season started at the same point then again every player they had has now been signed by two clubs and not allowed to transfer to a third club.
Maybe I have it all wrong but I dont see how Edu and other who are still there and being touted for a move can sign for anyone unless they are somehow still registered to oldco and then the money should go to the creditors pot surely?
This latest blog has set off a great weekend of posts covering so many different aspects of this incredibly complicated legal mess. Well done Stevensanph. By giving us a list of events it appears many of our investigators have re-visited important issues and Goosy’s posts re the floating charge have me intrigued. Regardless of oldco Rangers cheating there seems to be an awfull lot of transactions in this sordid affair that, if not illegal/criminal, are, at the very least, close to being dishonest (I suspect they are very dishonest) and with so many people in authority, ie SFA etc, so desperate to believe anything that makes it easier for them to facilitate Rangers, the lies are readily believed. They are, in fact, the perfect targets for con-men. The fact that it involves the ‘establishment club’ seems to have led to a fear factor amongst the powers that be which has, in turn, led to an attitude of ‘save Rangers at all costs’ from all areas of authority including parliament and the judiciary, though I do find it difficult to believe that judges would risk their reputations by aiding, even by delaying investigations, something as trivial, to them, as a football club. It’s almost the perfect scam whereby, even if the perpetrators fail to carry it off as per the plan, the desperation by the authorities, who would otherwise pursue the wrongdoers with gusto, not to turn up anything that might finish the ‘establishment club’ might very well lead to the wrongdoers getting away scot-free with a tidy, if reduced, profit.
One positive aspect of the complete failure of the MSM to cover this case, other than as part of the Rangers’ propoganda machine, is that should there be criminal charges brought that lead to a trial by jury, then there should be no problem finding a jury that has no knowledge, and so no preconcieved opinion, of the case. They would just have to find a group of people with no internet access 😉
The total time billed by D & D in hours for Creditors while in Admin = 346 Hours (Secured Creditors 18.10 hours)
The total time bill be D & D for “Sale of Business” = 1238, even though the business was never sold only the assets.
Strategy Planning & Control = 2093 hours ( over £1 million pounds)
Smallest charge?? Statement of affairs = 1.6 hours.
Who were these people working for, certainly does not appear to be the creditors.
I cannot see how there could be any dubiety on secured creditors if the administrators have spent the grand total of 18 hours during a six month period on them!!!
So Swally has a stake in Sevco probably in lieu of wages surely this is a conflict of intrest.Imagine the dillema, scottish cup quarter final Celtic v Sevco they are both going for the treble its 1-1 15minutes to go Charlie is sweating buckets in the directors box a replay at Ibrox is a $2 million game does Swally take off his managers hat and put his business head on and try to play the game out.(A nod and a wink to the ref who will then save the injury time penalty for Ibrox.
http://www.heraldscotland.com/sport/opinion/any-proposed-short-cut-back-to-the-top-for-rangers-will-be-howled-down.18687980
Michael Grant, 27/8/12
We sometime ask ourselves if Internet Bampottery has impact.
Over the course of this summer we have seen clear evidence of the impact of fan power on attempts to gerrymander the league. Whilst the outcome of admission of Sevco into SFL3 still involved significant rulebreaking, it should be acknowledged that this was a considerably worse result than many of the heid players anticipated.
So the football authorities and the clubs have both been seen to react (at least to some extent) to the demands of fans for sporting integrity.
What about the MSM?
From a starting point of outright ruidicule and scorn, there has been a growing realisation that the blogosphere is not simply the domain of ranting nutters (though it is not hard to point to examples where that is an accurate desciption).
The precise and cutting analysis found on RTC, TSFM, Paul McConville and many other club-specific sites has devastatingly exposed the multifarious shortcomings of the fourth estate with respect to their inability to accurately report a story that conflicts with their own perceived self-interest. (actually I feel bad here: apologies to the many others sites that contribute to this – too many to name)
So where are the MSM now? It seems to me that we are beginning to see the first signs of spring, wee teeny wee shoots of enlightenment beginning to poke their heads through the rubble following ‘Armageddon’.
On the radio, we have Mr Cosgrove being parachuted in to provide rational commentary on the situation and to chaperone the Devourer of Succulent Lamb. Mr Cosgrove specifically notes the analyses and influence of Bampottery – including specific reference to our own BRTH.
The print media is also showing hints of potential maturity. Last week Mr Grant of the Herald produced an article floating league reconstruction without any significant analysis of the dangers to sporting integrity and requirements for transparency in the process. In the article below, we see further drift towards a reasonably critical analysis of the potential for league reconstruction and the influence of fan opinion upon the decision making process.
The title of the article, for those who do not wish to click on it, is worth noting: “Any proposed short-cut back to the top for Rangers will be howled down”. (This one gets a ‘Much Better’ from me – others might take their own view).
Is it possible that the MSM are beginning to realise that Scottish football is about more than one club from the south side of Glasgow?
Can it be that a realignment might be taking place where Sporting Integrity is seen as having priority over business demand, even if only reluctantly due to the realisation that business demand will evaporate if sporting integrity is lost?
Too soon to say. However, what IS certain is the impact of ordinary paying customers saying enough is enough. Whether it is league reconstruction, monitoring adherence to sporting rules, or application of presure to the MSM to demand fair and accurate reporting of the news – there can be no let up on the pressure to ensure that our sport has a future free from the corruption of its past.
Reading the material on TSFM over the last couple of days has been exhilarating. Top notch investigative work and excellent analyses.
I agree with Slimshady. In my opinion the fans are being led up the garden path. Anyone who values their reputation would not touch this with a bargepole.
If Green has got the assets, whatever they might be, on the never never from D&P, and the present incumbents are saying the company is woth £50 million on a bad day I can see BDO unravelling the lot leaving us with no club for Sevco to own and the SFA with much egg on face.
The money and the main players here are all linked and as such will be compromised. I just wish Lord Hodge would get to grips with his part in this to enable the can of worms to be opened fully.
As for a corrupt SFA wanting to shoehorn Sevco up the divisions, surely this is a non starter as they seem to have found a level at which they are struggling.
Goosy/Shed
This is the only MG06 I can see filed. Isn’t this the one for Murray Park that was posted earlier? Is this the one we are talking about, or am I still looking in the wrong place?
06 Jul 2012
MG06s
[NEW!] Particulars Of A Charge Subject To Which A Property Has Been Acquired / Charge No: 1
How do the following items stand up:-
Charity Match Costs 193,110
Friendly Match Costs 15,533
Player Agents Fees 6,270
Legal Costs / SFA Appeal Hearing 28,100
Pre Administration Wages / Salaries 479,513
Post Administration Wages / Salaries 2,299,658
The charity match, the costs are there, note it is referred to as a charity match rather than a legends match, any income must be in another figure, ticket sales maybe???
Legal costs, I thought the SFA were liable for these? If not then SevCO had to pay the SFA as part of the 5 party agreement.
The accounts are from Feb 14th to August 14th, why is there Pre Admin Wages outstanding, is this accounting practise from previous salary till the 14th of the month?? As no wage cut deal was announced till 6/8 weeks later, one of these wage figures must be wrong.
Bit confused ,can someone help ,dont meet my neighbour much of a morning ,he said he was away for a morning paper ,what is this. .
Long may Swally manage sevco, lets not write him off please and lets hope the result continue to be mediocre because if they are then those involved in this gerrymandering willl be reaching for the valium, maybe even the windae ledge. Next thing there will be a late introduction of play off’s for the bottom 4 in Div 2 and the top 4 in Div 3 if the masterplan continues to crumble like the high flats roon Ibrox. That recking ball is swinging!
ps since Fifer made his comment after the investors announcement by the BBC and how quite the blog had become he must be now thinking whit the **** as this blog has stepped up bigtime.
As I understand it, Sevco are in the Scottish Cup draw today at 2pm.
Can someone enlighten me as to why the SFA have not prevented their entry into the tournament, as they have not paid their debt to Dundee United for their previous membership-holders Scottish Cup tie last season?
FIFA says:
August 27, 2012 at 11:12
Bit confused ,can someone help ,dont meet my neighbour much of a morning ,he said he was away for a morning paper ,what is this.
——————————————-
It’s a euphemism for a haircut 😀
Goosy says:
August 27, 2012 at 00:21
10 0 i
Rate This
Agrajag says:
August 27, 2012 at 00:00
What would the £27.5m debt be.?
Who would Sevco owe this money to and for what.?
,,,,,,,,,,,,,,,,,,,,
Agrajag
Put it this way
========================================
I’m not with you.
Having a security is one thing, however if you are not owed anything by the person who currently owns the asset then what is that security worth.
Take the Ticketus money for instance.
It started as pre-payment, to Rangers FC PLC for season tickets. It was not a debt (per se), it was pre payment for season tickets.
However Rangers FC PLC went into administration and to cut a long story short the administrator broke that contract, meaning Ticketus were due their money back. They became an unsecured creditor. However unsecured creditors will get little or nothing, particularly as the business is now being liquidated and wound up. What that means is that Ticketus will no longer be owed any money by Rangers FC PLC.
As far as I am aware they are not owed any money by Sevco. So any security anyone holds over Sevco’s assets is meaningless to them.
Similarly Craig Whyte. What do Sevco owe him. Nothing as far as I am aware. Again any debts to him will be settled as part of the liquidation process, the same as debts to anyone else.
Unless I have missed something Sevco do not owe any of these people any oney. They have taken on the football debt, and it appears they have taken on the debt to Scottish Sports 9or whoever) but that’s it as far as I know.
I realise that, intuitively people believe that Ticketus, Craig Whyte etc are still in the frame somewhere, I simply haven’t seen anything supporting this view. I am more than happy for someone to show me otherwise. To me it is a disgrace that Sevco can on the one hand claim to be the original club, claim to have it’s history and claim to be entitled to the titles and trophies it has won. With the Scottish footballing authorities and media apparently supporting this position. Whilst on the other hand claiming to be a brand new entity and as such divesting itself of £134m of legitimate debt.
I would genuinely love to see at least some of that debt (other than the football debt which there was no way round) stick to them. However if that happens, then it does to a certain extent legitimise their claim to continuity.
They can’t have their cake and eat it, neither can I.
Quote from the “i” film review today about current release”the imposter”- in 1994,a wayward 13year old went missing from his home in Texas. Four years later a 23 year old Algerian man claimed to be the missing boy and was accepted back into the family home. The film is all about a con-artists best ally – peoples desire to believe – until further, more sinister mysteries are unfurled.
Sound familiar?
Ps. the”i” doesn’t tell lies about Scottish football. – it doesn’t cover it at all.
Fans Against Corruption says:
August 27, 2012 at 11:27
Good point! Wonder if East Fife been paid yet?
Once Stevensanph’s superb list is as complete as we can get it,
how about a mass email campaign to FIFA & EUFA all UK newspapers
and relevent foreign newspapers and to all relevent club owners & chairmen
here and overseas. Might shake some people up a little and inform them of
just how corrupt the SFA are.
As this is the SCOTTISH FOOTBALL MONITOR, that what it says on the tin, what about some comments on this TV deal, the one where all sorts of rumours abound about fast tracking Rangers back in 1 year, (granted on yesterdays performance we might need the 3 years) and Celtic’s role behind the scenes?
Also please remember that Rangers fans are not a homogeneous group as often depicted on here, we are first and foremost a football club with a support that wants to see us play football, plain and simple, a support that has been badly treated by its 2 former owners, two owners that have raped the club, businesses, the tax man and other football clubs.
Believe me that does not sit easy with me and others.
But we have to deal with the consequences and hopefully move on.
Edu, who looked to be headed from the defunct Glasgow Rangers to Ipswich Town of the English second-tier League Championship, received a surprise last-minute offer from the Potters.
By Robert Wagman (in Washington, D.C.) SoccerTimes
http://www.soccertimes.com/americans/2012/aug26
~~~~~~~~~~~~~~~~~~
Our American cousins get it.
defunct: a. no longer existing or in use; dead
Could the Bill Miller reported £30M black hole in the accounts be a round up of the floating charge figure?
I understand Miller signed a confidentiality agreement of some kind. So maybe his tongue was legally tied and he couldn’t go into specifics and only talk in generalities.
Anyone else see this?
Loving the work done on the floating charge.
If correct TRFC fans will rightly be furious.
It might open up some of those blinkers wide enough to see the bigger picture. Unlikely but fingers x’d.
Lord Wobbly says:
August 27, 2012 at 11:43
From the Soccer Times link in above post.
Because of the complicated situation with the Rangers in receivership, Stoke and Rangers have agreed to a provisional transfer fee for both for Edu and Jamie Ness, who previously moved to Britannia Stadium. Should world governing body FIFA rule that the two are not free agents but remain property of the new Rangers FC, the deal could become derailed. A preliminary ruling by FIFA is that players from the former Rangers can play elsewhere this coming season with no transfer fee, but has postponed a final decision until later this year.
Does this seem right? I thought players moving on was a formality and no fee payable. More shenanigans I suppose
Ruperts words of wisdom on twitter yesterday
Rupert Murdoch Verified
@rupertmurdoch
Simple equation: free, open uncontrollable Internet versus shackled newspapers equals no newspapers. Let’s get real.
Reply Retweet Favorite 621 RETWEETS 86 FAVORITES
1:58 PM – 26 Aug 12 via Twitter for iPad · Embed this Tweet
My ealier post seems to have been binned by the moderator and God knows why!. I made a tongue in check suggestion that with recent Sevco results in div 3 people in high places must be sweating. Next thing you know there with be play offs introduced for the top and bottom four in Div 2 & 3 if results dont improve. Keep up the good work Swally.
ps. The blog hasn’t half moved up a gear. Fifer must be wondering if he kick started things with his comments after the BBC announcement about investors in The Gers, he was suggesting things had gone a little quite,
Goosy says:
August 27, 2012 at 09:43
TSFM
I am saying that on 6 July Sevco registered the Liberty Corporate floating charge over all RFCG assets This MG01 puts Liberty Corporate in the position of RFC asset floating charge holder if and when RFCG are liquidated
The Bizzy heading under which this was done was descibed as MG06s
go to
http://bizzy.co.uk/uk/SC425159/sevco-scotland
then
Click to see all 10 documents
The 2 documents under this MG06s heading are the Liberty Corporate / RFCG MG01 and an MG02 relates to a BOS charge
The issue is
Why are Sevco legally obliged to register the Liberty Corporate floating charge over
RFCG assets ?
It can surely only be because the liquidation of RFCG puts Liberty Corporate in the positionof Floating charge holder for the assets which Sevco bought from D&P
====================
I know TSFM and Stevensanph have already queried this , but for the avoidance of any doubt, there is only one MG06s listed on the bizzy site for The Rangers Football Club Ltd (ie SC425159 – Sevco Scotland as was), and it is not related to Liberty Corporate.
It refers to the Scottish Sports Council, ie it’s the same document that thetaxmancometh kindly uploaded to Scribd:
http://www.scribd.com/doc/99963189/Sevco-Scotland-Mg06s
Thought I’d post this in case any other readers were curious enough to consider wasting 95p on the Bizzy site as I just have!
De Profundis says:
August 27, 2012 at 01:16
15 0 i Rate This
selfassessor says:
August 26, 2012 at 08:19
18 0 Rate This
Oh sweet Jesus, the faces are back!
Yes they are and I’ll have to accept it, but you’re not going to get the reaction that I got, Sorry again Essex.
==================================================================
De Profundis…the beasties I can tolerate…except that mine appears to be a “one tooth wonder”…is this blog trying to tell me something…?
briggsbhoy says:
August 27, 2012 at 12:22
My ealier post seems to have been binned by the moderator and God knows why!. I made a tongue in check suggestion that with recent Sevco results in div 3 people in high places must be sweating. Next thing you know there with be play offs introduced for the top and bottom four in Div 2 & 3 if results dont improve. Keep up the good work Swally.
================
Unless there’s been a change in the last 8 weeks, there are already play-offs for SFL3. The 2nd, 3rd and 4th placed teams in SFL3, along with the 9th placed team in SFL2, enter a play off for a place in SFL2 (or SPL2 as it will probably be by next Summer!)
In other words, Sevco could finish 4th this season and still be promoted.
scottyjimbo says:
August 27, 2012 at 08:38
A what/if with no evidence. Up to now everyone considered MBB as the pantomime villain, acting on his own, and trying to make the fast buck. Everyone was incredulous that Ticketus should apparently “give” the MBB the money to buy RFC(IA) without the usual securities so they could get their money back. Now the what/if. What if MBB was not working on his own?…… Make any sense?
==================================================
@scottyjimbo – sense and rationality have not been in abundance in this sorry saga to date. So, no apology for stretching your thought experiment a wee bit farther.
If you are looking for a Mr Big behind the plan to make a fast buck then why not test the means, motive and opportunity of Sir David Murray himself. Someone with an emotional attachment to Rangers who had invested squillions of his own(Ok his mates at BoS’s) money and whose MIH group elsewhere was deeply in hock to BoS. His 85% shareholding would amount to little or nothing behind the queue of preferred and secured creditors in a liquidation scenario. How to improve on that bleak prospect? Gain a position as a secured creditor and leap to the head of the queue on realisation of the assets.
The means? SDM finds £21M and makes a placing in Ticketus 2. Ticketus /Octopus had a prior working relationship with the club over several seasons so were known to SDM and the nominee director structure they use is sufficiently discreet to hide the identity of beneficial investors. On the surface, a ‘can’t lose’ deal – if Rangers continues to trade, benefit from the profit of purchasing discounted season tickets, if Rangers ceases to trade, collect on the security over the club’s assets. While the arrangement between investor and Ticketus can be direct, the deal between Ticketus and the club would need to be arms-length – enter Mr Whyte and the rest of that story is as documented.
The opportunity may have been the introduction of Craig Whyte as purchaser of the club and the scheme hatched between them as a cunning plan to fund purchase of the club by CW and as a swan song for the departing majority shareholder SDM to get a return. Whyte contributes the MCR /Duff and Phelps link, SDM brings Ticketus alongside.
Yes, it is truly preposterous. Should be easy to shoot down.
Lord Wobbly says:
August 27, 2012 at 11:43
6 0 i Rate This
Edu, who looked to be headed from the defunct Glasgow Rangers to Ipswich Town of the English second-tier League Championship, received a surprise last-minute offer from the Potters.
By Robert Wagman (in Washington, D.C.) SoccerTimes
http://www.soccertimes.com/americans/2012/aug26
~~~~~~~~~~~~~~~~~~
Our American cousins get it.
defunct: a. no longer existing or in use; dead
=====================================================
“….the defunct Glasgow Rangers…”
May I ask if such a term has ever been uttered by the heavily compromised MSM…?
After all, with just the most basic of understanding of Company law, gleaned from this site and RTC over a mere six months, this should be perfectly clear to anyone who can read!
So the MSM have not leaned anything at all from all this have they?
“But our American cousins have”…I put it down to the education system…and…I blame the parents…!
Alex Cox says:
August 27, 2012 at 11:34
Could the floating charge be in respect of a contingent liability such as money owed by Whyte/RFCG/Liberty to, say, Ticketus? I would have thought that assets couldn’t be sold while covered by a floating charge without the holder of that FC’s consent/discharge and yet it appears it still exists over assets suposedly owned by Sevco. How might this scenario work? Lets say Whyte owes Ticketus for the money paid to LTSB and that debt crystalises, the debt is covered by the floating charge and Ibrox and other assets etc have to be sold, or passed to Ticketus (or subsidiary, say, ASDFGHJKL plc), in settlement of the debt, who can then syphon off however much of the season ticket money they want. This might not work if challenged by one of the parties involved, but if everyone involved is in on the plan? This might be why Whyte was so desperate for his pet administrators, who were already (perhaps) in on the deal. Then in steps BDO who will hopefully unravel it all!
I’ve no idea if this scenario could work, but I doubt if Whyte, or any other of his kind, would worry whether or not it was legally watertight as they probably never saw the difficulties they were going to encounter knowing how complicit the MSM were, and remain so, and expecting the Rangers’ fans to fall for it all without question, which they more or less have. They just didn’t factor in the internet bampots!
Something we all have to consider is that the plan has probably/possibly all gone pear-shaped and it’s now a ‘get out with what we can’ scenario. While Ticketus were due £27m they only paid, I think, £19m for the STs, so anything they can get back over this amount is profit/clears costs, and in their worst case scenario anything (in millions) is better than what they have now. Unless Green and co are honest men, or have some patsy lined up to buy newco at some point, then the club their fans call Rangers is going back into administration sometime in the not too distant future, and it all starts all over again.
Supposing the sale of assets is deemed illegal because of conflicts of interest and maladministration by D and P, where does that leave “Rangers”. Sevco – now the Rangers have some kind of conditional registration to play – and even if their claim to the title deeds and assets is forfeit that licence must have some validity. Therefore we could be in a position where all of the heritable assets are in the hands of the new administrators/liquidators top be disposed of to the benefit of creditors ( though with a 27.5 mill floating charge over them) yet despite owning no concrete assets SEVCO could still hold the licence or registaration or whatever document the SFA gave them to allow them to continue playing – how on Earth could they sort that? Would be very funny and would expose the SFA to surely terminal ridicule and contempt from all sides – which would be fitting!
Allyjambo Taxpayer says:
August 27, 2012 at 12:57
0 0 i Rate This
Personally I think your comment “Something we all have to consider is that the plan has probably/possibly all gone pear-shaped and it’s now a ‘get out with what we can’ scenario.” is closest to the mark. There are several things which I don’t think were accounted for, and which came to pass. These stick out in my mind but are not exhaustice,
1, Rangers lose to both Maribor and Malmo and therefore no European money whatsoever. A Huge financial blow.
2, HMRC send in the Sheriff’s Officers and arrest money in a bank account. A further hit to cash flow.
3, HMRC force administration to happen quickly. Not in a coule of weeks time, right no or we do it ourselves.
4, Craig Whyte fails to pay any Tax or VAT for a year (cause by cash flow issues as above). This makes a CVA impossible. The business will be liquidated.
5, Ticketus do not have the iron clad contract, which survives a CVA / liquidation they thought they had. They based this belief on the English rules re property and rights. The Court of Session tells them they do not have special rights and if that contract is broken they are an ordinary creditor.
6, “New Rangers” are supposed to get a place in the SPL, for the good of Scottish football. The fans do not accept this and it does not happen.
7, A place in SFL 1 (no Europe anyway so just drop down for one season with minimal disruption and loss of income). See 6.
8, the players walk away, McCoist stays. Neither is a good thing for the footballing side of the business.
9. Charles Green buys the assets and sets up a new company. There is minimal interest in buying into this venture. It is now a Scottish 4th division club, so why would people put a lot of money into it. It is a loss making venture already.
10, It would be stupid to finish any list at 9, so let’s make 10 the share issue. It remains to be seen how that works out.
As I said there are other things like failure to lodge accounts, being thrown off the stock exchange, the club bringing the game into disrepute, the owner not a fit and proper person etc etc.
Bottom line, I tend to agree with you. If this was a plan it was either a bad one, or badly implemented. I really do think they are making this up as they go along and looking to get what they can out of it. I have seen nothing to suggest that thie new club will be made a viable business and will continue playing senior football in Scotland for years to come.
All I see is their fans being ripped off for some money through a share issue, the bulk of that money going to the original investors, and enough being left to keep it afloat for a short period. Maybe even until the next season ticket renewals are due. The current owners / directors may well have walked away by that time. The only alternative I see is another “sugar daddy” appearing and buying it over.
Having read EVERY post on here this a.m., and seeing even elements of the msm trying to play catch-up (show them a wave and they’ll try to surf it!), it would seem obvious that it’s well past time for The S.O.C.A. to step in and take ALL the miscreants to the cleaners.
The level and layers of corruption have reached a point where they cannot be ignored any longer,nor be continually swept under a very big rug. If it continues,it means that organised fraud is de rigeur in Scotland. Is that desirable? No. Obviously.
” What a tangled web we weave, when first we practice to deceive. ” That ought to be the motto on the cracked crest of SevcoScotland, and above the doors at Hampden where the enabling and encouragement of this fraudulent ethos have been actively ecouraged and, in some instances, instigated.
The faces? Get along to WordPress and create yer own!:-)
The Iceman says:
August 27, 2012 at 13:10
Supposing the sale of assets is deemed illegal because of conflicts of interest and maladministration by D and P, where does that leave “Rangers”. Sevco – now the Rangers have some kind of conditional registration to play – and even if their claim to the title deeds and assets is forfeit that licence must have some validity. Therefore we could be in a position where all of the heritable assets are in the hands of the new administrators/liquidators top be disposed of to the benefit of creditors ( though with a 27.5 mill floating charge over them) yet despite owning no concrete assets SEVCO could still hold the licence or registaration or whatever document the SFA gave them to allow them to continue playing – how on Earth could they sort that? Would be very funny and would expose the SFA to surely terminal ridicule and contempt from all sides – which would be fitting!
_________________________________________________________________________
I’d expect ‘The Rangers’ would be back in administration, this time with BDO as the administrators. We’d probably see the team continuing to play matches, but with redundancies/ending of contracts along the lines we expected last season, and with a 10 point penalty (is there more for a second dip into administration?), their chances of winning the SFL3 and promotion would then be severely hampered. The SFA would then be forced into taking a harder line and to stick to the rules as they would be seen as having added to the mess already by their lighthanded/compliant approach. I’d expect, though, that they would resort to being oldco again and so player registration would become another giant headache for the SFA!
Until they can be certain that such a scenario definitely won’t happen the supporters would be well advised to avoid any Green share issue, as their hard earned cash might better be used in facilitating a ‘Blue Knight’ style takeover sometime in the future, after liquidation.
Dear All at TSFM,
Congratulations to you all and to RTC from south of the border. More power to your elbows in getting to the bottom of this whole murky saga and the complicit role played by administrators and the media.
It’s sad to think that it will be impossible to wake up English fans from their torpor until a similar fate befalls one of our “big” clubs down here. As a lifelong Chelsea supporter (I’ve seen us relegated more often than win the title) I’m sick to death of Oligarcs and Sheiks using the EPL as their plaything for weekend amusement. The damage done to Pompey by a series of incompetents is just shocking.
Keep up the good work.
One question. I have been able to work out all the acronyms except MSM – I known it’s a term applied to the media but can’t fathom it out. Could some kind soul please enlighten me?
Best wishes
Tincks
spanishcelt says:
Can anyone clear up a what the position is with any players who were attached to rangers at the time of the Brechin game.
These players must have been registered to some club to allow them to play, then after that game the ”new” club was formed and all the players were registered to THE RANGERS.
Does that not mean that all these players have been registered by two clubs already this season and none of them can be transfered until next summer?
Also when does last season end and the new season start?
If the old season ended with the last game of the season and the new season started at the same point then again every player they had has now been signed by two clubs and not allowed to transfer to a third club.
Maybe I have it all wrong but I dont see how Edu and other who are still there and being touted for a move can sign for anyone unless they are somehow still registered to oldco and then the money should go to the creditors pot surely?
_________________________________________________
To paraphrase Sevco & The SFA, “Rules, we don’t need no steenkin’ rules!”
Paulsatim says:
August 27, 2012 at 11:38
(edit)…… Wonder if East Fife been paid yet?
=========================
I think for League Cup games, the away side must be paid within 10 days, so East Fife were due their monies by 17 August at the latest.
Non-payment within the 10 days will be dealt with by the SFL Board. Interestingly, any club failing to report a non-payment would also be dealt with by the board.
Apologies if this has already been covered.
Tincks says:
August 27, 2012 at 13:45
MainStream Media
campsiejoe says:
The sting could not have worked, unless Sevco was seen to be exactly the same as its predecessor
This is where the SFA/SPL/SFL came in
Now I don’t know what Green said to them, but the authorities very quickly legitimised and then anointed Sevco as the real deal, so to speak, and even agreed to the infamous history transfer
Without the blessing of the SFA/SPL/SFL, there would be poor season ticket sales, and little or no hope of a flotation
When all is finally revealed, none of the governing bodies are going to come out of this at all well, and I remain convinced that they have been involved from the word go
____________________________________________________________
Absolutely campsiejoe.
As I’ve opined before, this is all part of a well worked out plan, put in place at least 4 years ago, with the placemen in those govering bodies all party to that plan. Nothing has happened by accident or coincidence in this affair, and the plan has worked perfectly apart from the SFL 3 spanner as the only body that can’t be controlled are non-Sevco fans.
So the real question is why? Why have the governing bodies willingly joined the plan? Is it for money? For love of rangers/Sevco? Is it fear? Blackmail? Or a combination of all?
This is what we need to know. Oh for a whistleblower to reveal the secret paperwork that undoubtedly exists in these bodies outlining their part of the plan.
Alex Cox says:
August 27, 2012 at 13:22
This is again where the MSM have done them no favours (Sevco/Whyte etc) by creating, in years gone by, a situation where ‘business’ could be carried out ‘under the radar’ so to speak. Now, with the MSM continuing to eat succulent lamb, they think they are home and dry, only to find people like RTC were waiting in ambush and that there was one, very clever, journalist, Mark Daly, prepared to search for the truth. I’ve a feeling that the Rangers’ sting by Whyte etc is just one example of the way such men have been operating successfully for many years. I wonder just how often similar scams have been operated successfully where A,B and C come together, apparently unconnected, initially for A to buy a struggling company at a knockdown price, put it into administration with compliant administrators, B, then move it to C to continue the business, debt free. As long as it all remains ‘under the radar’ then they are home free, but this time they’ve made the mistake of getting involved in something that was never going to remain under the radar, though they might still get away with it, sadly.
Tincks
I suppose a few folk will reply, but here’s mine anyway..
Msm = main stream media
( or i hope it is, thats what I understood it to be)
Good post, by the way, welcome to TSFM
FIFA says:
August 27, 2012 at 09:58
=============
Did Green not let slip in an interview that he has been involved from March, long before his name was mentioned?
Dear All at TSFM,
Congratulations to you all and to RTC from south of the border. More power to your elbows in getting to the bottom of this whole murky saga and the complicit role played by administrators and the media.
It’s sad to think that it will be impossible to wake up English fans from their torpor until a similar fate befalls one of our “big” clubs down here. As a lifelong Chelsea supporter (I’ve seen us relegated more often than win the title) I’m sick to death of Oligarcs and Sheiks using the EPL as their plaything for weekend amusement. The damage done to Pompey by a series of incompetents is just shocking.
Keep up the good work.
One question. I have been able to work out all the acronyms except MSM – I known it’s a term applied to the media but can’t fathom it out. Could some kind soul please enlighten me?
Best wishes
Tincks
==================
MSM = Main Stream Media
I thought MSM was Murray’s Succulent Media.
Tincks,
As other have said, MSM = mainstream media. I struggled with one too when I came late to the party!
You may have noticed that TSFM now has a Facebook page following the ‘timeline’ blog by Stephensanph. Liking that page might help publicise the story a little? Esp if your FB friends then also like it etc. “Tiny ripples become…” and all that.
Murray’s Sycophantic Minions
From today’s Herald’s poster Robert Wilson:
“The D&P progress report has led to much discussion. Many are following the money. I expect it will be dissected, researched & responded to over the next few days. Your favourite Saint in Asia has also produced a timeline that was published on Facebook, the Monitor & elsewhere over the weekend. As it develops, I suspect this will become a reference point for many.”
Good work TSFM
Essex Beancounter
Are you saying our msm have 2 parents ,1 parent [M/F ?] ,no parents, in that case where they brought up With Uncle Billyboy and Auntie Lizz who happened to live streets apart from one another and they went to seperate schools from their brothers and sisters ,or is there another difference from our American cousin’s in the msm ,we should be told ,what is the background of these people.
ps do think Jabba and chick are actualy long lost brothers and just don’t realise and shug keevins is a cousin would make sense,oh these wet holiday Mondays.
How many charges of sectarian and racist chanting are RFC Tribute Act facing now? They must surely be looking at some serious trouble by the authorities by now?
Just a little petty aside.
I hadn’t appreciated that the oldco were ‘The Rangers Football Club Ltd’ prior to floatation to become the plc
Nice example of an old badge/crest here http://www.therangersarchive.co.uk/index.php?option=com_content&view=article&id=261&Itemid=326
Presumably it is OK to use the old post floation name for the newco being it has not been used or connected with the oldco for 12 years?
1. stevensanph says:
August 27, 2012 at 10:32
Goosy says:
August 27, 2012 at 09:43
When I click that link I only see one MG06, from July 5th. Is this the one your talking about? If I understood your email correctly there should be two MG06′s? I can only see the reference to one.
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stevensanph monster mind and other interested posters
Two points
1 Yesterday it was possible to pull up a Bizzy link for Sevco Scotland Limited. Today Bizzy redirects you to The Rangers Football Club Ltd where there is only one reference to MG06s and it is only one document and it is not the documents I downloaded
Fortunately I have a copy of my download from the Bizzy “Sevco Scotland Limited” not the Bizzy “The Rangers Football Club Ltd”
See below
I was offered
THE RANGERS FC GROUP LIMITED
(07380537)
PARTICULARS OF A MORTGAGE OR CHARGE / CHARGE NO: 1 (MG01)
24/03/2012 » Click to Download PDF
THE RANGERS FOOTBALL CLUB P.L.C.
(SC004276)
STATEMENT OF SATISFACTION IN FULL OR IN PART OF A CHARGE /FULL /CHARGE NO 12 (MG02s)
27/04/2012
Neither of these documents are MG06s but they are located under an overview heading called MG06s “Particulars Of A Charge Subject To Which A Property Has Been Acquired / Charge No: 1”
» Click to Download PDF
So
Since yesterday it is no longer possible to find a separate entry for Sevco Scotland Limited on Bizzy and the overview reference to MG06s for “The Rangers Football Club Ltd” does not show either the Liberty Corporate MG01 or the MG02 I was able to download
The mystery deepens !
Interesting little article on the BBC Sport website today, which serves to contrast the prompt actions of La Liga when faced with defaulting clubs as compared to the more relaxed approach of their Scottish counterparts.
See http://www.bbc.co.uk/sport/0/football/19387975 – Malaga missed a single transfer payment instalment to Osasuna and were immediately hit with a transfer ban (January 2012).
Can anyone see that happening over here?
nowoldandgrumpy says:
August 27, 2012 at 14:16
3 0 i
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FIFA says:
August 27, 2012 at 09:58
=============
Did Green not let slip in an interview that he has been involved from March, long before his name was mentioned?
======================
February actually, but yes he did.
After it was announced that HMRC intended rejecting the CVA he said (paraphrase) “If it was a matter of policy then why did they not tell us back in February”. This was televised, I remember seeing it at the time and have subsequently read it on the BBC website.
I thought it strange that a “last minute” bidder referred to “us” and to events of 4 months earlier.
Forres Mechanics V Sevco, mouth watering, wonder if it is on the telly??
Of course it will be.
Seamus says:
August 27, 2012 at 11:39
39 0 Rate This
Once Stevensanph’s superb list is as complete as we can get it,
how about a mass email campaign to FIFA & EUFA all UK newspapers
and relevent foreign newspapers and to all relevent club owners & chairmen
here and overseas. Might shake some people up a little and inform them of
just how corrupt the SFA are.
__________________________
And to our corrupt compliant politicians like Salmond and Davidson…
Sally has been promising potential signings that league reconstruction is inevitable and that RFC Tribute Act will be in the SPL in a couple of seasons, with him being a weasel of a man that is understandable well known for talking out of his huge behind. But who has been making the same promises to Spartans? Was it someone at the SFA? Someone has promised them some kind of deal.
smallteaser @ 14:46
I wonder when it will be announced that the game will be moved to a larger ground
One of the “pundits” on Clyde on Saturday actually said that if Sevco were drawn against one of the small non league teams, the game should be moved to an SPL ground, as it wouldn’t be fair asking Sevco to go to one of these smaller grounds, with poor facilities
They can’t help themselves, and just will not accept that Sevco are a 3rd Division side with all that entails
Ordinary Fan @ 14:59pm
Thought that too, they accepted sevco’s acceptance to 3rd division ahead of them a little too quietly??? Despite fulfilling all criteria for admission when sevco didn’t 🙂 slightly puzzling!
Came across this little nugget when I was trying to read up the bumph on Insolvency legislation.
“27. Indeed it is not beyond the Court’s powers to intervene in a sale, for example in Re Ulva [35] where the court compelled the administrator to unscramble a sale [36] . There the application was brought under paragraph 74, Schedule B1 Insolvency Act 1986 which gives the court discretion to make orders if the administrator has been acting or threatens to act in a way which will unfairly harm the applicant.”
http://www.publications.parliament.uk/pa/cm201012/cmselect/cmbis/writev/insolv/is11.htm
Brenda: Yes, what kind of football club with any kind of ambition would not be up in arms? The owners have just sat quietly during all of this. Why? Spartans MUST be desperate for a place in the league. It would be a fairytale for any non league football club.
By my reckoning with all the comings and going Sally has plenty spare capacity to bring in some experienced pro’s by the end of this week and still meet the SFL max for players over 21 rule
1 Neil Alexander 34
2 Lee McCulloch 34
3 Carlos Bocenegra 33
4 Emilson Cribari 32
5 Kevin Kyle 31
6 Kirk Broadfoot 28
7 Ian Black 27
8 Dean Shiels 27
9 Francisco Sandaza 27
10 Anestis Argyriou 24
11 Andrew Little 23
12 Scott Gallagher 23
13 Ross Perry 22
14 Sebastien Faure 21
15 Kyle Hutton 21
16 Kane Hemmings 21
17 Darren Cole 20
18 Andrew Mitchell 20
19 Kal Naismith 20
20 Chris Hegarty 20
21 Lewis MacLeod 20
22 Kamil Wiktorski 20
23 Robbie Crawford 19
24 Matty Clarke 18
25 Barry McKay 17
Goian out of loan 31
Anyone want to take a guess at how many will be brought in by the end of this weeks window, keeping in mind these guys have to see them through a season and a half?
(Presumably some players will have a get out clause and could transfer out if anyone else wanted them in the future?)
How many, who and what their salary expections may be will prove interesting in relation to Green et al’s aims, objectives and investment strategy in relation to the footballing side.
5 players at 5 grand a week (52) adds on £1.3m to the wage bill per annum.
campsiejoe says:
August 27, 2012 at 15:04
—————————-
No need to move the game, Forres’ ground holds 7,000 which should be more than satisfactory.
Could Sevco out-do its predecessor and manage to be out of all domestic cups before the clocks go back??
campsiejoe @ 15:04
I find myself in agreement with the notion that the host club should be able to move ties like this to a larger neutral venue if (and I emphasise the if) a) they want to and b) it is in their interests to do so. Saying they must just because it’s Sevco however is daft to the point of contempt. I was too busy tendering out my PPI claim to all the myriad of advertisers on Clyde who said they’d get my money back to pay too much attention to whatever parrot is squaking on SSB this weather.
slimshady61 says:
August 27, 2012 at 15:21
The capacity was 7000 until the ground was moved to accommodate the A96.
It is only 1400 now.
A wee move of the tie to ICT would then give the growling bears a dilema. Cup gate money is split so they can argue by heading north to cheer on T’Rangers in a bigger stadium they are helping support the wee Highland League Team while also putting money into Charlie’s coffers.
However the ‘No-Voters’ of ICT would get their cut for hosting the game and surely they are in Bears Big Book of Bigoted Boycotts.
Perry Whyte @ 15:25
I normally don’t listen to these muppets, but the programme was on while I was at my daughter’s house
We all remarked on the sheer arrogance of the comment
slimshady61 says:
August 27, 2012 at 15:21
The capacity was 7000 until the ground was moved to accommodate the A96.
It is only 1400 now.
A wee move of the tie to ICT would then give the growling bears a dilema. Cup gate money is split so they can argue by heading north to cheer on T’Rangers in a bigger stadium they are helping support the wee Highland League Team while also putting money into Charlie’s coffers.
However the ‘No-Voters’ of ICT would get their cut for hosting the game and surely they are in Bears Big Book of Bugoted Boycotts.