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.
—-
WOTTPI says:
August 27, 2012 at 15:16
If 17-22’s birthdays are near, it doesn’t give much room for manoeuvre.
Iv’e just seen that Chris Graham the Spartans owner was part of Lord Calloway’s Appellate tribunal! Wow. Coincidence of the extreme or corrupt to the core?
Alex Cox / nowoldandgrumpy says
I’m also wondering about CGs dual roles…has anyone ever announced that he’s no longer involved with RFC(IL)?
Its incomprehensible that he had dual roles given the risk of being classed as a shadow director, never mind being possibly involved in the two companies at the five way agreement, as their financial interests would have been in conflict.
If he is still involved in RFC(IL) the obvious suspicion is for a financial motive rather than just helping out those poor overworked administrators out of sheer kindness..so is RFC(IL) still paying some folk? Non playong staff might have been represented by trade unions in the TUPE process if it indeed happened or was carried out properly. Any brothers out there who can clarify what happened to non playing staff or who their employer is?
Phil Mac’s latest blog, http://www.philmacgiollabhain.ie/are-we-there-yet/
They just don’t get it while Charlie boy is taking them for another ride RM are discussing whether Charlie will sanction the signing of the billy boys, they insist it is their right to and it was belted out yesterday because they were playing in England
They deserve everything that is coming.
No longer ‘the old firm’ for Sevco. Now, for them alone, it’s simply ‘the long firm’.
De Profundis says:
August 27, 2012 at 15:38
Rule 115.2 states:-
“A club shall be permitted to register, at any one time, up to a maximum of 22 players, who have reached the age of 21 years on 1st January of the appropriate year. The maximum number of 22 players includes players registered by means of a temporary transfer. Additional players may be registered by a club, however such players must be under 21 years of age on 1st January of the appropriate year.”
Therefore he can bring in a few oldies but has to take into account of when these guys birthdays are.
17 Darren Cole 20 – 3/1/1992
18 Andrew Mitchell 20 – 6/4/1992
19 Kal Naismith 20 – 18/2/1992
20 Chris Hegarty 20 – 13/8/1992
21 Lewis MacLeod 20 – 20/7/192
22 Kamil Wiktorski 20 – not known.
Therefore they will add to his total in Jan 2014 but by that time the transfer ban will be over or they will be toast or league re-construction may have altered the rule.
smallteaser says:
August 27, 2012 at 14:46
Forres Mechanics V Sevco, mouth watering, wonder if it is on the telly??
Of course it will be.
—————————————————————————————————–
Only one of these teams are currently champions 🙂
Ordinary Fan says:
August 27, 2012 at 15:39
4 1 i
Rate This
Iv’e just seen that Chris Graham the Spartans owner was part of Lord Calloway’s Appellate tribunal! Wow. Coincidence of the extreme or corrupt to the core?
================================================================
It is Craig Graham, not Chris, Chris writes a Rangers website. Craig announced he would stand aside when Lord Nimmo sent the judgement back as there may be a conflict of interest, or at least by some people.
http://www.heraldscotland.com/sport/football/exclusive-two-withdraw-from-appellate-tribunal-to-rule-on-rangers.18197546
Bit of good news for all Scottish football fans. With the first month of games now complete, total attendance at all Scottish matches show an increase of 7.43%. The figures are :
2011-12 – 287,674
2012-13 – 309,061.
This is like for like for both seasons & reflects Celtic & Rangers had only played one home match in each season. No sign of anything melting…
shame D&P are so quiet these days.
could’ve been Forres Mechanics v Quantum Mechanics
Brenda Ordinary Fan and any others I’ve missed
Some facts for you.
You are correct that lots of wee clubs like Spartans, Cove, my own wee EOS club and others too would like to be in SFL.
No vacancy ever existed during the recent demise so none was ever discussed between any of the wee clubs and the game’s administrators. That was never an option because they knew that Rangers would continue to be playing football in season 2012-13.
And no future promises ever took place because between SFA or SFL and any of the likely wee clubs oft quoted here because there was never a reason to do so.
Why – because there was never a slot to fill.
This and the sad fact that if the wee clubs had made a fuss or gone legal about the rulebending they’d have been ostracised – I’ve posted that fact before to universal agreement on this forum.
My club also said and did nothing.
And finally – a point of fact is Craig Graham is Spartans Chairman. My pals at Spartans will freely tell you he owns no shares in the club.
Craig was one of the Appellate Tribunal Members because he is one of the 100 or so people on the SFA member list. He got called in did the job as asked and allegedly the club received some negative stuff from angry fans of the liquidating club.
TSFM,
When you’ve got a minute, may I have my koala back, please? I was getting quite fond o’ the wee thing.
And why advantage Sevco with taking it to a bigger ground with their hordes that would shout everything down around them ,when the Mechanics can engineer the downfall at their own ground and go onto earn more money in later rounds,Sevco already struggle at these grounds,stay at home guys and enjoy the ride ,see you in the next round.
Neal I think I understand most of what you are saying BUT……..if the rule book was adhered to rfciastbil would have been stripped of their membership of the SFA and there would have been a space to fill…….stinks to high heavens and may your team have a successful season 🙂
FIFA says:
August 27, 2012 at 16:44
Sevco already struggle at these grounds,stay at home guys and enjoy the ride …..
==========
The lack of crowd could be their twelfth man.
iki lol ye those songs must be putting sevco off !!! The fans are singing about rfciastbil 😉
Speculating … maybe no-one wanted to put up dosh to save now defunct Glasgow Rangers earlier this year because they arent viable unless they get decent funds from player transfers each season, as an SPL club, and European football. The only reason the corpse was re-animated in its current form is because Tickytus, chasing some kind of return on the original money they provided to CW (which they, surprisingly, found themselves losing out on due to the difference between Scots and English law), have found a complicated ownership model to hold control over the assets of The Rangers newco.
The assets bought by Sevco are now held by The Rangers and Ticketus are looking to obtain some kind of return to put in the plus column against the funds they gave to CW which weighs heavy in the minus column.
I’m loathe to look any further than this since Occam’s Razor usually decides against heavy conspiracy (for example knowingly involving the continued influence of SDM, CW, regulators, etc – indeed if anything SDM has recently seemed to be very interested in saving his own skin)
If unsure of the explanation of event – go for the simplest option. Its usualy true.
Brenda you are right.
If the rules were followed there would have been a stripping of membership and a bona fide vacancy that should have gone to one of the wee aspirants instead of the phoenix franchise.
But my theory is the SFA only use their rule book when it comes to bullying wee clubs like Spartans or Wick Academy the year before for daft stuff that has nothing to do with football.
However in retrospect I think the SFA did a spectacular job in ensuring they never had a vacancy to fill even if doing so meant they were cheating their aspirant Highland League, EOS League, South of Scotland League and Junior members.
It wasn’t an easy task and sadly he silence from all the wee clubs, my own included was deafening and a sad indictment on our game.
And the SFA stage-managed delays which still inexplicably continue, were politically contrived to let “Football Break Out” with the phoenix franchise before even beginning to start to sort out the mess.
Where are the whistleblowerd when you need one?
Maclure says:
August 27, 2012 at 11:42
‘….But we have to deal with the consequences and hopefully move on…’
———
We have all been landed with the ‘consequences’.
We have still to DEAL WITH the perpetrators of this series of monstrous and iniquitous crimes and their complicit, deceitful accomplices and protectors.
THEN , when we have honest, decent administrators in place, and full and proper punitive (but entirely just) measures have been taken against the wrongdoers ( in the spheres of criminal and civil law, as well as in the realms of Football Administrative Rules), we might be able to ‘move on’.
There are baddies out there who have to be hrooted out and brought to book. No question.
Re the Ticketus involvement .
I keep going back to WHY ,would anyone pay ANY Scottish football club 24m up front ,let alone one that had a possible 60m tax bill coming and had changed hands for £1 .
I think Ticketus would conduct a deeper risk assessment than reading the Scottish chip wrappers and listening to the phone ins .So when something does not make sense ,it must mean you are looking at it from the wrong angle.
What if the Ticketus deal was made because someone had tried for years to find a mug punter to take a dead horse off his hands as he could not be the one to flush them down the pan .
The only way to re- launch a zombie would be to get the gullible fans to empty their pockets ,the only problem was that had been tried before and he had to put the balance on the plastic as they refused to part with their cash .
What if they hatched a plan to get the gullible fans to pay without them knowing they were doing so .Once it was known that Ticketus was getting the fans money ,the gig was up and CW was a goner .
The problem of Ticketus getting their money back though was still to be resolved ,why was TBK and Mr NG and windy Miller all being courted by Ticketus as joint bidders ?.
IMO Ticketus/Octopus are right at the centre of this saga .Is it just coincidence that the way Ticketus /Octopus business works that it seems extremely hard to find who is behind any investment .
I am not inferring any wrongdoing from the above ,only trying to look at this from a different angle
Follow follow the money and the truth will out
I see from D&P’s updated report that it cost the Creditors of RFC(IA) £166K for hosting a Charity match for the benefit of others including the Rangers Fans Fighting Fund.
Was it only on 24/04/12 that someone said, “The Scottish FA has a responsibility to all its members and must implement its rules without fear or favour.” ?
I don’t think they knew what those words meant !
Stephen
A while ago now, I took a chronological record of press articles that seemed relevant –
http://w11.zetaboards.com/ReportsOfTheDeathOf/topic/7672122/2/#new
It can be quite handy for seeing how reporting changed should this help your excellent account.
Apologies if this has been posted guys, it’s a very good article from The New York Times re Sevco’s demise.
http://kerrydalestreet.co.uk/single/?p=11689982&t=8719788
Neal @ 7:32pm whistleblowers??? The last time someone? mr Craven I believe tried to blow any whistle he was banned from refereeing ANY game ever again!! That’s the SFA for you!!
This is an excellent expose of the argument that Rangers and Sevco are the same club.
http://kerrydalestreet.co.uk/topic/8710328/60/#new
Auldheid @ 19:06pm
Lol! Brilliant sums them up!
I commented on a previous thread about the whole club/company paradox for sevco. If they insist on pressing ahead with this share issue, they will hit the brick wall in terms of their pretence that they are different. What I posted is below:
“I am really looking forward to seeing what name appears on the prospectus and share certificate for this share issue.
I wonder if it might be The Rangers Football Club Ltd? I find it hard to believe they could get away with just putting Rangers, or Rangers Football Club as such an entity doesn’t legally exist.
And yet they claim they are selling shares in the club. Which is a separate nebulous entity floating beneath whatever holding company exists at that time of day.
And yet I would assume that as such entity doesn’t actually exist in law, but is merely a fiction, they would have to put the company name.
Thereby in black and white acknowledging the reality that the club is the company and vice versa.
And thereby acknowledging also that the previous “holding” entity Rangers Football Club PLC was also very much the club, despite their false and fraudulent statements denying this.
Thereby, surely also providing definitive evidence to creditors and BDO (if they were so inclined) to challege the stitch up and unravel the Green deal as gratuitous alienation.
I have no great confidence in the legal system, but the paradox above surely would not stand in even our courts”
Allyjambo – is the Justice Secretary a Hearts fan? a mate of mine said he was at the game v Liverpool?
if so – could someone not whisper in his ear at half-time that there is a bit of a crime scene taking place in Govan that he may want to take an interest in?
and that leads me to thinking that as well as emailing newspapers, texting 80295 into Sportsound – we should also be challenging journalists, politicians et al face-to-face. Not in a confrontational way – just stating the facts – and asking them to look into this website and in particular this post by Stevensanph.
On another matter – huge praise again for Tam Cowan’s column in the Daily Record on Saturday where he told Shandy Jardine to shut up in no uncertain terms – and look at the real culprit in this saga (i.e. SDM).
Hugh Keevins in the Sunday Mail yesterday even said he had asked why Bomber Brown was so quiet, bomber told him he had been fishing in Alaska (!), but was now back…… don’t hold your breath
http://www.sportinglife.com/football/news/article/439/8024495/sfa-reform-not-for-rangers
Scottish Football Association president Campbell Ogilvie insists
moves to reform the structure of the leagues are not designed to accelerate Rangers’ progress through the divisions.
~~~~~~~~~~~~~~~~~~~
Well if Campbell says it, that’s good enough for me.
(tongue-in-cheek smiley)
http://m.stv.tv/news/scotland/187518-duff-and-phelps-to-earn-27m-from-overseeing-rangers-administration/
The document by joint administrators Paul Clark and David
Whitehouse also notes that they expect the result in the First Tier Tribunal’s ‘big’ tax case relating to the club’s use of offshore employee benefit trusts to pay workers between 2000 and 2010 to be released next month.
~~~~~~~~~~~~~~~~~
I’ll believe it when I see it 😉
It might be an idea if all the clubs trusts and associations reps got together to form a united front and put forward the list of questions we all want answered.
The spl, sfl and sfa; even our own clubs could not ignore the power that the supporters represent.
Would be good to get some stuff out in the open!
Neal, thank’s for the link. What I am getting at is there SHOULD have been a vacant space and Spartans, Cove etc should have been allowed to put themselves forward. RFC Tribute Act have no audited accounts so should not have even been considered. The rules were thrown out of the window, Spartans didn’t even make a grumble of discontent while the SFA were ignoring the rules and helping create a New Club from thin air to take the vacant space. Why would they sit back and take that? It doesn’t make any sense at all in my opinion. They had a far more legitimate claim to take the place left by RFC.
Craig Graham has a duty to his players and the clubs supporters to do what is best for the Club. If gaining entry to Division 3 is not seen as what is best for the Club now then why was it in 2008 when they applied? It does not make any sense. Of course the SFA would have treated them with the same contempt and disdain they treat every club except RFC and its Tribute Act, but that is not the point. Why was Craig Graham so willing to stay silent on the issue when corruption was costing his club a potential place in Division 3? Then he turns up on the Appellate Tribunal, which as you say was a 100-1 chance of happening?
If they are the same club ,why have they not been docked 10pts for starting the season in administration
If they are the same club ,why are they not entitled to play in Europe for the next three years
If they are the same club ,where did all their debt from last season go
If they are the same club ,why do they have a THE stuck on the front of their clubs name
If they are the same club ,why did they need voted into the SFL3
Just this weekend the Denier in Chief ,Mr James Traynor even stated they were in fact a new club , whose next to spill the beans of truth ?
Have they realised that its no longer neccesary to spin this lie , the season ticket money is in
the punters have been fleeced and the truth can now be broken to the Ponzi Investors
Keeping to this lie has made them look very foolish ,it fooled the blue tinted mob and no one else, their erses were being handed to them on a plate week in week out.
Maybe they realise that claiming its the same club can be damaging if HMRC and BDO
also treat them as the same club.
Maybe Jabba got a sniff of napalm and realised old club is most definately not something to keep alive ,or he’s reached stage 5 in the KR model- acceptance
Ally meanwhile is still wondering why his parrot is nailed to its perch
pantoon maloo says:
August 27, 2012 at 20:02
You can glean more backgrond on this from the comments on
http://glasnostandapairofstrikers.wordpress.com/2012/08/23/reforming-scottish-football-some-initial-questions/
The information on the Supporters Direct web site makes it something we should all look out for, a platform to do as you suggest and that ties in with the article at Celtic Underground.
“Former Rangers director Ogilvie said: “To be fair, nobody really saw the the situation coming, then there were a whole catalogue of votes, rules in the SPL and SFL were different.”
Right absolutely no-one saw this coming, not an inkling. Not a scintilla of a hint rangers were in deep doo-doo. But then Campbell old chap, you only signed a few pieces of paper that were put in front of you. As Company Secretary, and a Director you didn’t need to know any details. not your department.
I depair.
and I deSpair as well
Blindsummit says:
August 27, 2012 at 19:36
If they want to sell shares in the club then it has to become a body corporate. Oh I forgot, that’s what happened in 1899!
Pantoon Maloo: Excellent idea.
Thanks Auldheid,
on the ball as usual.
I think we are on the same wavelength OA. The share sale will force them to drop the “same club” fiction. Very publically and humiliatingly.
Mike Farrell’s STV report on the D&P report …quote
“Included in the fee paid to Duff and Phelps so far is around £42,700 covering pre-administration costs for 89 hours of work carried out before the firm’s official appointment on February 14. Several months prior to its appointment, the firm formerly called MCR, had been working in an advisory capacity to Mr Whyte on his takeover of Rangers.”
So, D&P are charging RFC creditors 42 grand to pay for their conflict of interest, sweet.
I’m definitely in the wrong line of work.
And anyway, shouldn’t those charges not be met by CW not RFC?
…definitely in the wrong line of work, grumble grumble
Lord Wobbly says:
August 27, 2012 at 19:54
http://m.stv.tv/news/scotland/187518-duff-and-phelps-to-earn-27m-from-overseeing-rangers-administration/
========================
Other notable highlights of the latest creditors’ report from D&P:
– the balance available for creditors has fallen from £6m to £2m since the end of June (could be nil by the time BDO get to work)
– money from ticket sales has been revised downwards by £26.5k (could this have something to do with Dundee Utd’s missing share of gate receipts?)
-the amount spent of media and PR since administration began stands at £141k.
I was wondering if anyone here could have a guess at what the monies from the SPL represent? (£520k, slight adjustment from figure quoted at end June.) Would this be all monies due after prize money deducted?
timtim says:
August 27, 2012 at 20:08
4 0 Rate This
“Ally meanwhile is still wondering why his parrot is nailed to its perch”
Classic ! 🙂
Regarding the timeline of events leading up to the demise of the club formerly known as Rangers;
There was mention on the old RTC website about July last year that future season ticket money had bought the club.
RTC also mentioned in October that Craigy boy was not paying income tax or NI. It wasn’t in a blog it was just one of the comments. It caused much discussion at the time.
Itsagoal! says:
August 27, 2012 at 19:47
3 0 Rate This
………….. Hugh Keevins in the Sunday Mail yesterday even said he had asked why Bomber Brown was so quiet, bomber told him he had been fishing in Alaska (!), but was now back…… don’t hold your breath
>>>>>>>>>>>>>>>>>>
A Brown bear… fishing in Alaska….. dare say Alex Salmond there as well ? I think we should be told
I still cannot understand why the Double Ds appear to be getting away with incurring a £4 million trading loss keeping RFC(IA) alive
That is £4 million of creditor’s money p1ssed away so that RFC(IA) could get to the end of the season and collect £2.5 million of prize money, or so the Double Ds would have us believe
Now according to Mr McConville’s blog yesterday, that £2.5 million has been handed to Charlie, but it’s up to him to persuade the SPL to hand it over
How can Court appointed Administrators be allowed to p1ss away £6.5 million that should have gone to the creditors without a murmur from said creditors ?
Link to Paul’s article in case you missed it
http://scotslawthoughts.wordpress.com/2012/08/25/for-sevcos-5-5m-it-bought-all-rangers-players-fixed-assets-goodwill-and-2-67m-prize-money/
CEO’s contracts ?
As we are talking about corporate entities: out of curiosity does anyone know if either Regan or Doncaster is on a fixed term contract, or a ‘permanent’ / open ended contract as CEO ?
Both the SFA & SPL are Ltd. companies.
I can see Regan was appointed in 2010, and Doncaster in 2009 – but nothing specific about the terms / duration of their roles.
Lord Wobbly,
If the value left to creditors is now as low as £2m, and potentially less or nil, if BDO aren’t appointed soon, will this make it more likely that liquidators will have to look to revoking the sale to CG?
The assumption of some that BDO might not wish to rock the boat might work if there was some sort of sum left to creditors, but the amount of greed / shenanigans to date might leave BDO with no option. Their professional reputation would ensure that they will do everything to get as much as possible for the creditors despite the small sum left.
Have D&P & CG pushed their luck too far??
Goosy,
Can’t get a response from your email, which appears not to be working. Can you contact me via the admin page, re. the missing MG01?
Lord Wobbly says:
August 27, 2012 at 19:54 ( link to STV report of D&P’s update claim to creditors)
—
My Lord ,Thanks for posting this link.
The STV report is a bit vague about when the report went to creditors.
If it went only today, that might be an indication that D&P have already received the FTTT decision, and that Whitehouse’s ‘next month’ means in effect ‘next week’- i.e. the seven days or so that have to elapse before the decision is made public on the Tribunals’ website.
john clarke @ 21:05
I downloaded it on Friday
ticketus will still be involved and regan / doncaster were put in their positions whilst this switcheroo took place. Is it not a coincidence that the 2 biggest jobs in Scottish people went to unknowns from down south, before this game started.
with ogilvie in the background. They will all leave with a healthy cheque after switcheroogate.
Snowy says:
August 27, 2012 at 12:50
“@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.
=========================================================================
To add to that…..
From the circular to the PLUS Exchange, June 2011:
“Further disclosure pursuant to The Takeover CodeCraig Whyte, aged 40, is a Scottish entrepreneur and investor born in Motherwell. He built his career on his expertise as a turnaround specialist financing and managing established businesses experiencing cashflow difficulties. He is founder and chief executive of Liberty Capital Limited, which currently has investments across several market sectors including technology, financial services,
TICKETING and commodities trading, with operations in the UK, the Netherlands, Switzerland and France. He also holds interests in a large number of other companies specialising in areas such as finance, corporate recovery, investment and stockbroking.”
(courtesy of Sunny Jim Young on KDS)
Acting on behalf of Murray in the transaction, as detailed in the disclosure document were Noble Grossart Ltd. Murray and Grossart knew exactly where the money was coming from. The timeline should start at Ellis, Betts and MCR’s involvement with Wavetower and/or Liberty or even before – at Traynor’s ‘exclusive’ on the MBB. There is now a detailed timeline between the Record story
and the raising of the ‘cash’ to make the offer and there’s compelling evidence to suggest that the three principals were all aware of the nature of the transaction taking place.
Are Whyte and Murray beneficiaries of the Ticketus consortium? Perhaps… although I doubt Murray would be that stupid.
Are Ticketus and Whyte the men still behind this latest charade? Does Whyte’s fathe’s BVI vehicle Liberty hav title to the property? The evidence appears to be compelling.
And what about Celticfcblogs observations on Zeus’ Mr Stockbridge? It’s all there, folks…an orchestrated stitch-up.
Anyone with a beef about refereeing decisions?
http://m.stv.tv/sport/football/clubs/aberdeen/187509-fans-tribunal-have-your-say-on-all-the-spls-controversial-decisions/
While I think the ticketus involvement is fishier than a pair of fishmongers’ hands, why for the RFC deal have they changed their investment strategy from that normal modus operandi? Investment firms like these when they issue a prospectus for a new fund have a tightly defined investment strategy. For this fund, it’s investing in season tickets. To deviate from this and embark on a quite different strategy would be out with the terms of the strategy and objectives of the fund. The only way such a deviation would be allowed would be if the investors were fully involved and “in on it” too….
campsiejoe says:
August 27, 2012 at 21:14
‘I downloaded it on Friday’
—
The actual report? I missed any reference to it, until today’s STV thingy on-line at 6.01 pm was drawn to my attention!
Thanks for that. Could therefore be this Friday when the FTTT decision is public.
john clarke @ 21:41
Here is the link if you want it
http://www.rangers.co.uk/images/staticcontent/documents/administratorsinformation/Rangers%20-%20Progress%20Report%20-%2024%20August%202012.PDF
john clarke says:
August 27, 2012 at 16:40
17 0 i
Rate This
TSFM,
When you’ve got a minute, may I have my koala back, please? I was getting quite fond o’ the wee thing.
==========================================================================
JC…you obviously were not cuddling it enough…but at least it has come back to you.!
I wonder what I did to deserve my “one tooth wonder” as I posted earlier…probably as a reward for my OT posts…aw naw mammy…gonnae no…!
http://www.afc.co.uk/articles/20120827/pittodrie-board-considers-its-options-_2212158_2902131
http://www.sportinglife.com/football/news/article/425/8026632/aberdeen-seeking-fresh-site
Apparently Clubfoot has agreed a deal to exit.
Another high earner gone, I thought Ally needed bodies in???
Fantastic post on CQN from Brogan Rogan Trevino Hogan regarding Neil Lennon., Check out his twitter for a link, not intended for this audience although I know a lot on here like his writing.
Insomniac at 21:32
Grossart, is that Angus, the finacial banker based in Edinburgh ?
So if Broadfoot is going then who else?
Odds on Bocenegra?
Will that be them down to 24 when Kirk goes?
How many can Sally get in by the end of the week and at what cost?
Will it be enough?
1 Neil Alexander 34
2 Lee McCulloch 34
3 Carlos Bocenegra 33
4 Emilson Cribari 32
5 Kevin Kyle 31
6 Kirk Broadfoot 28 – Going
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
@insomniac and snowy – that’s a very plausible rationale but I struggle with one point and this is worthy of debate. Did SDM have such an emotional attachment to RFC that he was willing to hatch such a plan that a) has been so poorly executed b) if it became known would devastate his reputation and c) take his eye off the ball from such a minuscule part of his empire which at that point was going down the swanny….?
briggsbhoy says: August 27, 2012 at 22:21
Insomniac at 21:32
Grossart, is that Angus, the finacial banker based in Edinburgh ?
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
The Angus Grossart of 48 Queen Street?, (who the first Minister appointed to chair the Futures Trust for a massive salary?) around the corner from David Murrays Office in Charlotte Square next door to the First Ministers office in Charlotte Square? is that the same Angus Grossart who endorsed Salmond at the election? and the same David Murray who suddenly endorsed Salmond at the election last year despite being a lifelong Tory? Then same First Minister who called on HMRC to go easy on Rangers(ia)?
these three men couldn’t in any way be related to a tax case in Govan?
Re Ticketus/Octopus, aren’t these funds “restricted funds” i.e. whose funds can only be put to a specific use – buying tickets, rather than, say, football club assets ? Could one of our financial services posters enlighten us. Fan Club mentioned this aspect this evening @ 21.40ish.
More phoenix moments on Sunday as the old songbook could be heard load and clear on the tv coverage – any mention in the press? Probably not.
So BDO will soon be on the case, overseeing the demise of RFC and bringing to justice all those involved in this nasty fraud.
We know this to true because HMRC, that organistion that is known throughout the land as the peoples very own paragon of virtue, has appointed BDO and they (HMRC) have stated that only through liquidation can the previous directors be brought to justice.
Isn’t it comforting to know that in the last high profile case BDO were the liquidators that the creditors were entirely satisfied by the outcome and that the directors they promised to investigate have been charged with a multitude of crimes and expect to serve prison sentences of at least 10yrs.
Oh wait a min, that didn’t happen, just ask Louise McDade of the Farepak victims committee what she thinks about BDO. I think their fees have amounted to just under £9m so far. No Ex Directors have been held to account, creditors have been shafted. Yet BDO have raked up £m’s in fees.
I only bring this up as today Phil Macgiolla Bhain posted that BDO expect the liquidation of RFC to last at least 5yrs. I expect HMRC will foot the bill, that’s you and me in the real world.
Does anyone not get it yet? The firms that carry out these Administrations/Liquidations earn an absolute fortune and they appear to be a law unto themselves. Numerous posters on here have highlighted many instances where D&Ps appear to have gone outside the rules yet no creditor has lodged any complaint with the courts or relevant authorities.
Ian Frazer has written articles where it would seem (reading between the lines) that fraud on a grand scale has been committed by Admin/Liquidators in many insolvencys involving RBS clients companys.
My question to you all is where does this confidence in BDO come from and why will they see RFC as anything other than another Goose that has just laid a gigantic golden egg.
I thought he would be long gone died and buried by now, my late father knew him as he worked for two of his uncles for a long time. I’m sure my father could have told a tale or two.
Fan Club says:
August 27, 2012 at 22:42
————————————————————————-
Perhaps rather than protecting his reputation he was protecting his freedom.
WOTTPI says:
August 27, 2012 at 22:40
So if Broadfoot is going then who else?
===========================================================
Kyle Hutton?? Loan deal if possible.
There may be a few more going on loan if he brings others in, they are then registered but not paid.
Fan Club says:
August 27, 2012 at 22:42
“ … Did SDM have such an emotional attachment to RFC that he was willing to hatch such a plan …. “
When your business is in financial trouble you cut costs, retrench, and make contingency for foreseeable problems down the line. None of this was done. In fact MBB, on taking over, went so far as to goad HMRC to close them down. I still think that there is a “nuclear” skeleton in the closet waiting to be revealed. This was to be buried with the corpse of RFC(IA) as quietly as possible. What’s the skeleton? I’ve no idea, but perhaps Barcabhoy knows.
The current shenanigans are the “white noise” drowning out and distracting from the real story.