Good Evening.
As we ponder the historic vote to create a new Governing body to oversee Scottish League football, I cannot help but wonder what brilliant minds will be employed in the drawing up of its constitution, rules, memorandum and articles of association?
Clearly, Messrs Doncaster, Longmuir and even Mr Regan as the CEO of the SFA will be spending many hours with those dreaded folk known simply as “ The Lawyers” in an attempt to get the whole thing up and running and written down in the course of a few short weeks.
In truth, that scares me.
It scares me because legal documentation written up in a hurry or in a rush is seldom perfect and often needs amendment—especially when the errors start to show! The old adage of beware of the busy fool sadly applies.
It also scares me because the existing rules under which the game is governed are not, in my humble opinion, particularly well written and seem to differ in certain material respects from those of UEFA. Even then, adopting the wording and the approach of other bodies is not necessarily the way to go.
I am all in favour of some original thought– and that most precious and unusual of commodities known as common sense and plain English.
Further, the various licensing and compliance rules are clearly in need of an overhaul as they have of late produced what can only be best described as a lack of clarity when studied for the purposes of interpretation. Either that or those doing the studying and interpreting are afflicted with what might be described as tortuous or even tortured legal and administrative minds.
If it is not by now clear that the notion of self-certification on financial and other essential disclosure criteria necessary to obtain a footballing licence (whether European or domestic) is a total non-starter — then those in charge of the game are truly bonkers.
Whilst no governing body can wholly control the actions of a member club, or those who run a club, surely provisions can be inserted into any constitution or set of rules that allows and brings about greater vigilance and scrutiny than we have at present—all of course designed to do nothing other than alert the authorities as early as possible if matters are not being conducted properly or fairly.
However, the main change that would make a difference to most of the folk involved in the Scottish game – namely the fans— would be to have the new rules incorporate a measure which allowed football fans themselves to be represented on any executive or committee.
Clearly, this would be a somewhat revolutionary step and would be fought against tooth and nail by some for no reason other than that it has simply not been done before—especially as the league body is there to regulate the affairs of a number of limited companies all of whom have shareholders to account to and the clubs themselves would presumably be the shareholders in the new SPFL Ltd.
Then again to my knowledge Neil Doncaster is not a shareholder in The SPL ltd– is he?
I can hear the argument that a fan representative on a league body might not be impartial, might be unprofessional, might be biased, might lack knowledge or experience, and have their own agenda and so on—just like many chairmen and chief executive officers who already sit on the committees of the existing league bodies.
Remember too that the SFA until relatively recently had disciplinary committees made up almost exclusively of referees. I don’t think anyone would argue that the widening of the make up of that committee has been a backward step.
However, we already have fan representation at clubs like St Mirren and Motherwell, and of course there has been an established Tartan Army body for some time now. Clubs other than the two mentioned above have mechanisms whereby they communicate and consult with fans, although they stop short of full fan participation– very often for supposedly insurmountable legal reasons.
As often as not, the fans want a say in the running of their club, but also want to be able to make representations to the governing bodies via their club.
So why not include the fans directly in the new set up for governing the league?
Any fan representative could be someone proposed by a properly registered fan body such as through official supporters clubs, or could be seconded by the clubs acting in concert with their supporters clubs.
Perhaps a committee of fan representatives could be created, with such a committee having a representative on the various committees of the new league body.
In this way, there would be a fan who could report back to the fan committee and who could represent the interests of the ordinary fan in the street in any of the committees. Equally such a committee of fans could ensure that any behind the scenes discussions on any issue were properly reported, openly discussed, and made public with no fear of hidden agendas, secret meetings, and secret collusive agreements and so forth.
Is any of that unreasonable? Surely many companies consider the views of their biggest customer? This idea is no different.
Surely such a situation would go some way towards establishing some badly needed trust between the governing bodies and the fans themselves?
If necessary, I would not even object to the fan representatives being excluded from having a right to vote on certain matters—as long as they had a full right of audience and a full right of access to all discussions and relative papers which affect the running of the game.
In this way at least there would be openness and transparency.
In short, it would be a move towards what is quaintly referred to as Democracy.
Perhaps, those who run the game at present should consider the life and times of the late great Alexander Hamilton- one of the founding fathers of the United States of America and who played a significant role in helping write the constitution of that country.
Hamilton was a decent and brilliant man in many ways—but he was dead set against Democracy and the liberation of rights for the masses. In fact, he stated that the best that can be hoped for the mass populace is that they be properly armed with a gun and so able to protect themselves against injustice!
Sadly, Hamilton became embroiled in a bitter dispute with the then Vice President of the nation Aaron Burr in July 1804. Hamilton had used his influence and ensured that Burr lost the election to become Governor of New York and had made some withering attacks on the Vice President’s character.
When he refused to apologise, the Vice President took a whacky notion and challenged him to a duel! Even more whacky is the fact that Hamilton accepted the challenge and so the contest took place at Weehawken New Jersey on the morning of 11th July 1804.
The night before, Hamilton wrote a letter which heavily suggested that he would contrive to miss Burr with his shot, and indeed when the pistols fired Hamilton’s bullet struck a branch immediately above Burr’s head.
However, he did not follow the proper procedure for duelling which required a warning from the duellist that they are going to throw their shot away. Hamilton gave no such indication despite the terms of his letter and despite his shot clearly missing his opponent.
Burr however fired and hit Hamilton in the lower abdomen with the result that the former secretary to the treasury and founding father of the constitution died at 2pm on the twelfth of July.
The incident ruined Burr’s career (whilst duelling was still technically legal in New jersey, it had already been outlawed in various other states).
In any event, in Hamilton’s time full and open democracy in the United States of America would have met with many cries of outrage and bitter opposition. Yet, today, the descendants of slaves and everyone from all social standings, all ethnic minorities and every social background has the constitutional right to vote and seek entry to corridors of power.
In that light, is it really asking too much to allow football fans to have a say and a presence in the running of a game they pay so much to support?
So do we know who the hack was that first reported the high IQ,this should be good.
Morning all, nearing mid-summer and the season of Nordic celebrations in this part of the world.
A quick shufty at the Scottish Sunday papers and it’s takeover talk at Killie, broken Hearts, sad Sandaza, and I finally got round to reading that Gary Ralston one-on-one with Mr Prior. Pretty good interview I thought. Sounds as though he’s been brought on board by MM. He was at pains to distance himself from the Greenesque PR spin. Don’t know about 30% thresholds triggering buyouts and all, but his comments were very candid. In fact, combined with his open bewilderment at the levels of executive renumeration and the opaque nature of the current financial setup, he sounded a bit like an internet bampot. You’d think he’d been reading TSFM 🙂
Ms C on the go;
Charlotte Fakeovers @CharlotteFakes 5h
UEFA Licence, docs tomorrow confirming overdues/no agreement to pay. Meanwhile an attachment schedule August 2011 http://www.scribd.com/doc/148070842/Discount-Option-Scheme-Attachment …
From one of the guys on KDS:
Well a google search reveals that he filed a legal case against Goldman for discrimination….could this be the reason he no longer works there?!
http://www.institutionalinvestor.com/Article/2318520/Trading-Archive/Kieran-Prior-The-Whiz-Kid-Challenges-Goldman-Sachs.html
When I get into work, I’ll give it a Lexus Nexus and Worldcheck background check…that ought to reveal it.
I’ve asked a few friends over at GS and none of them knew him.
I also asked our Private Equity division about Pri Arc, and the guys in that team know everyone in London having been in the business for 30 years again, never heard of him.
IQ might be off the radar…..but so is this boys’ existence as a big time charlie by the sound of it.
http://www.prioritytrust.org/author/kieranprior/
http://apps.charitycommission.gov.uk/Showcharity/RegisterOfCharities/CharityWithoutPartB.aspx?RegisteredCharityNumber=1122660&SubsidiaryNumber=0
Johnnymanc says:
June 15, 2013 at 8:23 pm
===============================
Aaahh! So is that why “Test” posts get TDs?
Not my usual Sunday morning read, but still quite an interesting take on the new kid on the block here :
http://thedailyranger.wordpress.com/tag/kieran-prior/
The title of the piece is “Prior the Liar”, which gives you a flavour!
neepheid says:
June 16, 2013 at 8:16 am
=======================================================
And the peepil will believe every word because they want to, or perhaps they need to.
It’s just amazing that there is any pickings left on the carcass now. Here we go again…
Kieran Prior the surprise Rangers investor who seems intent on shaking the Ibrox club up and returning it to a profitable business has run into difficulties with a charity he has chaired since it was launched.
It appears ‘Priority Trust’ first ran into difficulties in its 2nd year of operation and the charity went into a non-trading state in its 3rd year of operation and the last financial year which figures are available for revealed an income of just £66.
The Charity Commission website shows the charity’s first financial period ran until 31/03/2009 with £289,589 income and £229,901 expenditure. The charity provided 27 disabled children and young people with mobility equipment to improve their independence and the main focus for the following year was to raise further funds to buy mobility equipment.
In the next financial year to 31/03/10 charity income was £30,458 and expenditure £70,156. Another five children were supplied with mobility equipment. But as major donor income fell to zero the biggest challenge was seen as re-establishing donations from wealthy individuals.
The financial year to 31/03/11 saw £43,693 income and £42,892 expenditure and it was announced the charity wouldn’t be making further grants to fund mobility equipment for disabled children. Financial pressure saw the resignation of charity CEO Mark Boland on 31 March 2011 and it was decided Priority Trust would continue on a non-trading basis.
As the charity income dropped there was a bigger emphasis being placed on developing the website and blog as not just a disability resource but to give young disabled people a voice. However the blog and website news hasn’t been updated since February 2011.
The last financial year’s figures up until 31/03/12 revealed by the Charity Commission shown an income of £66 and expenditure of £1,847.
It remains to be seen whether Rangers fans who have been embroiled in financial turmoil in recent years will be impressed by their new investor’s track record in running a charity which he has professed as being close to his heart.
This news about Kieran’s flagship charity project coupled with the South African company business connections I have already written about creates an enigma for me that without an IQ off the scale I will never ever be able to work out. Perhaps CF might have some idea 🙂
On the question of CF’s latest offering I was looking at the items which were poinded and when I saw the amount of computers listed I had a wee smile to myself at the panic that must have started in certain breasts 🙂
The difference between Celtic pre-fergus and TRFC now is that Celtic were ripe for takeover: lots of untapped resources, lots of development opportunities, people keen to invest for sentimental reasons I.e. not expecting a return, long term investment opportunity.
TRFC: previous shareholders shafted, debenture investors shafted’ potentially unlimited court battles/compensation claims/hidden liabiities, supporters unrealistic expectations, factional boardroom riven with distrust, short term thinking, losing £1M per month, using previous IPO money to fund day to day running costs, MSM working for factions rather than reporting the truth.
I’m no Warren Buffet but I know a lemon when I see one! There is only two options:
Strip costs, basic wages throughout. (£750 000 for a sfl3 manager plus bonus???)
Get rid of all SPL salaries. Be honest with the support, no jam today, tomorrow or the day after.
Invest in youth policy, become a centre of excellence.
Or
Wait for a sugar daddy like Abramovitch to come along and throw money at the club with absolutely no prospect of a return.
Kieran said his mates call him “Potter” after Brian Potter of the Phoenix Club [!]
No worries there, Spivco defo a Phoenix Club…………
neepheid says:
June 16, 2013 at 8:16 am
5 0 Rate This
Not my usual Sunday morning read, but still quite an interesting take on the new kid on the block here :
http://thedailyranger.wordpress.com/tag/kieran-prior/
The title of the piece is “Prior the Liar”, which gives you a flavour!
————
@Neepheid, thanks for the link. Good with a view from the blue.
It’s healthy scepticism to say the least. Not unlike a post you might read here, if the author (who is?) cared to post it. He seems a little put out that Prior and MM are possibly in league, I guess that rules out W Smith as the person behind the piece. Not sure why someone advocating financial common sense would be viewed with such suspicion. On the other hand, why I am surprised? So Stockbridge & Green did not pocket a promotion bonus for winning Div 3? I’m sure I read on here that they had, but maybe that was a misunderstanding of the prospectus?
Kevin McKenna from the Guardian.
“While Vodafone, Google, Rangers FC and hundreds of other major companies have been allowed to deprive the exchequer of billions in tax revenues, the Westminster government remains focused on doing what the Conservatives have been doing for hundreds of years: penalising the poor.”
http://www.guardian.co.uk/commentisfree/2013/jun/16/britain-needs-a-revolution
ecobhoy says:
June 16, 2013 at 9:31 am
On the question of CF’s latest offering I was looking at the items which were poinded and when I saw the amount of computers listed I had a wee smile to myself at the panic that must have started in certain breasts
———————————————-
So, what you’re saying is Charlotte legitimately purchased Rangers’ history – on a hard drive? Wait til Charles finds out! Unless it’s him, obviously.
Danish Pastry says:
June 16, 2013 at 9:46 am
So Stockbridge & Green did not pocket a promotion bonus for winning Div 3? I’m sure I read on here that they had, but maybe that was a misunderstanding of the prospectus?
++++++++++++++++++++++
My understanding of the prospectus is the same as Mr Dailyranger (sorry, no idea who he is). The bonuses depended on TRFC getting out of the SFL. I suppose it can be argued that since the SFL is being abolished, then the day that TRFC join the new SPFL, the bonuses become payable.
So questions for today, for any lawyers looking in;
If I buy a second hand computer, am I legally entitled to anything left on the hard drive?
Does the previous owner maintain rights over documents and pictures?
Does the previous owner have to prove that they intended for this info to be removed, or tried to remove it prior to sale?
Would this change if the hardware had been legally seized without the owner having a chance to clean the hard drive?
Has this been tested in law?
DP
It’s healthy scepticism to say the least. Not unlike a post you might read here, if the author (who is?) cared to post it. He seems a little put out that Prior and MM are possibly in league, I guess that rules out W Smith as the person behind the piece. Not sure why someone advocating financial common sense would be viewed with such suspicion. On the other hand, why I am surprised? So Stockbridge & Green did not pocket a promotion bonus for winning Div 3? I’m sure I read on here that they had, but maybe that was a misunderstanding of the prospectus?
—————————————————————————–
1. Scepticism is based on the side that the author is on wrt power struggle.
MM = Corporate Goverence: KP sides with MM and uses this term several times.
By doing this he nails his colours to one side of the conflict and will naturally be up against the other side. He goes further down this road by rightly pointing to high executive renumeration packages and not appearing to mention anything about the football staff and by giving the exclusive to DR/SM.
The DR are betting on the spivs being bought out in the short to medium term and may thereafter have an advantage over rivals wrt breaking news and access at Ibrox.
2. Bonus CG/BS.
According to the prospectus, the wording suggests that now Rangers are out of the SFL, the bonus will have been triggered. One for the renumeration committee. For me there is a strong argument against the payment and is based on there being no real increase in projected income (ie. SPFL3 = SFL3) to justify pay-out.
hello!
Castofthousands says:
June 16, 2013 at 1:01 am
———————————
Yep, I do see that …. one of the problems when reacting to events as they emerge ….
As you imply, the fuller picture is yet to be seen … but quite incredible how close to the mark generally we have been through this entire saga ….(not always though)
I do feel though that there is a battle going on behind the scenes that occasionly bubbles over and we get a small glimpse of it …. sometimes it can be as simple as what is not said that is intrigueing.
Why has CW not come out and condemned the leaks for instance …. why are some quarters of MSM claiming the info is stolen … why has C invited them to engage to show that it is not stolen ….
Why is P.McC not commenting on C ……. PmG suggested a reason in one of his blogs but did not elaborate … he also has been generally arms length …..
Although AOC was silenced last night ….. he had some very interesting stuff to say that cannot be ignored.
As C implies …… eventually ….. the truth will out ….
Off the radar IQ….. bull**it ……Gary Ralston who began his career at the Rangers news. Another piece of utter drivel from this understudy to Mr Traynor………remember him?. The great propaganda machine continues to spout utter garbage.
davythelotion says:
June 16, 2013 at 9:44 am
Wait for a sugar daddy like Abramovitch to come along and throw money at the club with absolutely no prospect of a return.
=======================================
Abramovitch did not throw money at the club, he provided it with loans (interest free I think) which were later converted to equity in the club.
I think the whole “sugar daddy” in football thing is pretty much a myth.
Bit of history on “Phoenix” Duff & Phelps
http://www.sec.gov/Archives/edgar/data/883237/0001021408-97-000076.txt
December 30, 2012, Duff & Phelps, announced that it had entered into a definitive merger agreement under which a consortium, comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group will acquire the Company for $15.55 per share in cash in a transaction valued at approximately $665.5 million.
In April 2013, Duff & Phelps began a partnership with the consortium of financial sponsors.
greenockjack says:
June 16, 2013 at 10:53 am
2. Bonus CG/BS.
According to the prospectus, the wording suggests that now Rangers are out of the SFL, the bonus will have been triggered. One for the renumeration committee. For me there is a strong argument against the payment and is based on there being no real increase in projected income (ie. SPFL3 = SFL3) to justify pay-out.
==================================================================
There might be a moral argument against payments but I doubt that will cut ice with recipients. They will go on the wording in Flotation Document which makes no mention of increase in projected income. The wording is:
‘Mr Stockbridge is also entitled to a non-contractual bonus of 100 per cent. gross salary if the Club wins promotion from the SFL, share options, in the event that the Group’s shares are listed on any recognised
exchange, with a value equivalent to two and a half times Mr Stockbridge’s annual salary. The agreement is terminable by RFCL either for causes or on 6 month’s notice and by Mr Stockbridge on 3 month’s notice’.
Of course reconstruction makes things tricky to interpret what ‘wins promotion from the SFL’ means and as you state it is one for the Remuneration Committee in the first place but it may well end up in the courts.
I know it sounds daft but I have never noticed the Stockbridge shares option before which at a £200K salary would amount to £500K but does the number of shares depend on whether they are charged to him at 1p a share or at what price?
I had a look at Pri Arc’s portfolio last night and found the following
http://www.priarc.com/our-portfolio/
Zenti – would appear to be linked to them
hxxp://www.youtube.com/watch?v=khOPf1U-_QQ (I have changed http to hxxp to stop that making the link) Copy the address and change the start to http if you want to see it, it’s technical mumbo jumbo.
PriArc Executive services is them
The Priority Trust is Mr Prior’s charity as I understand it
That leaves two companies not linked to them, well not directly, but quite possibly linked to each other
Yoohzoo and Pixshare, both seem to be involved in some sort of photographic business, with Pixshare claiming to have provided a service to Manchester United.
Pixshare shows these addresses
41 Kyalami Boulevard, Kyalami Business Park, Kyalami, South Africa
6 Wardrobe Place, Carter Lane, London, EC4V 5AF
Yoohzoo shows this address
41 Kyalami Boulevard, Kyalami Business Park, Kyalami, South Africa
Steven Cracknell is the registrant for the pixshare web address, which is a .co.uk address but is actually in South Africa, as is the Yoohzoo one
There is also a UK contact number for Pixshare, mobile 07969 466665. That person is linked to the Twickenham area. I won’t mention who would appear to have an address in the Twickenham area. But he was recently selling a scooter. Wanted £750 for it.
Both Yoohzoo and Pixshare appear to have set up their websites in 2013
I’m afraid as Portfolio’s go it’s really not very impressive.
As greenockjack says, the bonus for Stockridge will have been triggered already. Page 84 of the prospectus is pretty unambiguous as I see it:
“Mr Stockbridge is also entitled to a bonus of 100 per cent. of his gross salary in the event that the Club wins promotion from the SFL or otherwise transfers to another football league or to another division within a league”
jean7brodie says:
June 16, 2013 at 11:03 am
“hello!”
——————
Hello Jean.
ForresDee says:
June 16, 2013 at 10:48 am
So questions for today, for any lawyers looking in;
If I buy a second hand computer, am I legally entitled to anything left on the hard drive?
Does the previous owner maintain rights over documents and pictures?
Does the previous owner have to prove that they intended for this info to be removed, or tried to remove it prior to sale?
Would this change if the hardware had been legally seized without the owner having a chance to clean the hard drive?
Has this been tested in law?
——————————————————————————————————————————–
Just a thought, maybees change you’re question[s] to any lawyer with regard to an email address & the historic emails & content.
On the question of bonus Green was entitled to a bonus of 100% of his gross salary of £360,000 in the event that the Club wins promotion from the SFL or otherwise transfers to another football league.
So a different wording from Stockbridge and he would clearly be entitled because reconstruction means Rangers have transferred to another League but is there a problem with timing because he resigned before the actual transfer took place? Possibly another one for the courts.
Another interesting point about Green is his agreement was terminable by the Company either for cause or on 12 month’s notice and by Mr Green on 3 months’ notice. So did Green get 3 months money to go as he apparently decided to resign or was he given 12 months to go quietly. Perhaps Prior might let us know what happened there.
On Imran’s position some Rangers posters seem to think he went without a bean but he didn’t seem to be on any bonus other than for commercial contracts and not for league movement.
Many seem to think McCoist has a bonus agreement tied to league promotion but that isn’t the case. He is entitled to a bonus if:
(i) the Club wins the SPL and an additional bonus if this leads to automatic qualification to the Champions League Group;
(ii) the Club wins the Scottish Domestic Treble;
(iii) the Club qualifies for the Group Stage of the Champions League through the qualifying route;
(iv) on qualification as one of the last of the 16 teams in the Champions League, such bonuses as are payable by the Company to the players plus an additional 25 per cent.; and
(v) on receipt of prize money in respect of the European Competition (other than the Champions League), such bonuses as payable to the players
TW says:
June 16, 2013 at 11:23 am
He seems to have all the options covered there. Nice wee £200,000 bonus for him. Coming out of the IPO money one would have thought.
The share options are very interesting as well.
Eco
As well as a moral and economic argument, I fail to see that the Rangers have ‘won’ promotion from the SFL. Rangers won the SFL3 and were to be promoted to the SFL2 (no bonus), until reconstruction changed the governing body meaning Rangers were to play in the SPFL3 rather than the SFL2.
To win implies that you are leaving the SFL to go upwards and thus increasing revenue generating potential accordingly, helping to justify and finance the bonus payments.
Unsurprisingly, the Spivs are looking to squeeze cash out of the club at every opportunity and have organised accordingly.
TW says:
June 16, 2013 at 11:23 am
As greenockjack says, the bonus for Stockridge will have been triggered already. Page 84 of the prospectus is pretty unambiguous as I see it:
“Mr Stockbridge is also entitled to a bonus of 100 per cent. of his gross salary in the event that the Club wins promotion from the SFL or otherwise transfers to another football league or to another division within a league”
=============================================================
If you look at my post just above it looks as though the prospectus might be a bit contradictory 🙂
Oh and if Green gets his bonus as well then that would mean over £500,000 being paid out as a direct result of this re-structring.
You would almost think they had set up up that way. One season then re-structuring to get them nice wee pay days in addition to what else they have “earned”.
ecobhoy says:
June 16, 2013 at 9:28 am
”Financial pressure saw the resignation of charity CEO Mark Boland on 31 March 2011 and it was decided Priority Trust would continue on a non-trading basis..’
——
I phoned the Priorty Trust last night. The recorded message said that this was Mark Boland of the Priority Trust.
Clearly not up to the mark, efficiency-wise! Either that or…
Gaz says:
June 16, 2013 at 11:17 am
——————————————————
Gaz you obviously missed my post on Friday night which I updated on Saturday morning – I wonder why 🙂
ecobhoy says:
June 14, 2013 at 3:27 pm
Sam says:
June 16, 2013 at 11:28 am
Just a thought, maybees change you’re question[s] to any lawyer with regard to an email address & the historic emails & content.
————————————-
Sam, I have no such info, but your reply proves that there is no such thing as free legal advice!
ecobhoy says:
June 16, 2013 at 11:49 am
Please feel free to make it again, I don’t actually read every post on here.
So there’s quite possibly no reason why I ignored it, I may not in fact have read it.
TW says:
June 16, 2013 at 11:23 am
As greenockjack says, the bonus for Stockridge will have been triggered already. Page 84 of the prospectus is pretty unambiguous as I see it:
“Mr Stockbridge is also entitled to a bonus of 100 per cent. of his gross salary in the event that the Club wins promotion from the SFL or otherwise transfers to another football league or to another division within a league”
——————————————————————————————-
Sloppy drafting of the Prospectus as 2.1.2 gives a different bonus wording from 2.2.2 on Stockbridge’s contract. I think if I was Stockbridge I would be pushing for payment quickly – I wonder when the official transfer date for clubs to the new set-up will be which might well trigger the contract depending on what clause is accepted or what the contract itself states. Coud be a tight-run race for Stockbridge depending on Prior quizzing the bonus position – I wonder if Green left his Dunlop Green Stripes behind?
Gaz says:
June 16, 2013 at 12:05 pm
I was having a joke about it being on late Friday afternoon/night when I seldom read anyone’s posts and if I do I usually forget. Your post had some things mine didn’t and was therefore valuable in adding to the overall knowledge which I don’t see as a competition issue and apologise if I gave that impression.
ecobhoy says:
June 16, 2013 at 12:06 pm
Sloppy drafting of the Prospectus as 2.1.2 gives a different bonus wording from 2.2.2 on Stockbridge’s contract. I think if I was Stockbridge I would be pushing for payment quickly – I wonder when the official transfer date for clubs to the new set-up will be which might well trigger the contract depending on what clause is accepted or what the contract itself states. Coud be a tight-run race for Stockbridge depending on Prior quizzing the bonus position – I wonder if Green left his Dunlop Green Stripes behind?
————————————-
Such ambiguities might well give any anti-Stockridge faction some leverage against hm in the current situation
hahahahaha someone is really running for cover…..I hope those clever chaps at the wheel of RTC/TSFM are able to track the wee thumbs ,,,and to take appropriate action …what a lovely day it is ….Happy Fathers Day to one and all…
Sorry about that! I do not understand this Kieran person. He is a big name from Salford although I have personally never heard of him. He does not appear to know or get a line to Zeus. Every deal making person in Manchester knows Zeus. Also why does 1% shareholding entitle you to request a seat on a PLC board. Does he know Murray? Murray certainly knows Zeus as they hired him. Although I actually agree with his comments about executive remuneration he did not say much about the rest of the Rangers burn rate. All very odd and I have canvassed a few people who are all players and nobody knows him or his fund.
newtz says:
June 15, 2013 at 10:40 pm
JOB Done …..
ACCOUNT SUSPENDED
AnOrangeCount ……….. is No More
———————————————————————————————————
AOC tweeted this morning
100BJD says:
June 16, 2013 at 1:12 pm
2 0 Rate This
Sorry about that! I do not understand this Kieran person. He is a big name from Salford although I have personally never heard of him. …
——–
Noticed some twitter discussion about him operating his company from a flat. Does that really matter if you have a big enough flat and don’t have a huge staff?
The trading address is (as you all no doubt know):
Flat A1
Kings Wardrobe Apartments
6 Wardrobe Place
London
EC4V 5AF
Not far from St Paul’s. With that address I’m sure there is a joke there about him being a closet trader 🙂
On a more serious note, for a person with his disabilities working from home may be the most practical thing to do (I’m merely guessing that he actually lives there, or in another flat nearby).
Whatever Mr Prior is, he’s certainly livened up the discussion.
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DIRECTORATE CHANGES
MWB Business Exchange Plc (“Business Exchange” or the “Company”), London’s leading provider of serviced offices and conference space, today announces the appointment of Andrew Blurton as Corporate Finance Director with immediate effect.
Andrew was Finance Director of MWB Group Holdings Plc for 13 years and resigned from that business in January 2010. He takes immediate Board responsibility for Business Exchange’s corporate development as well as its finance, accounting and reporting functions. Andrew takes over from Keval Pankhania who has resigned from the Board to take a career break and spend time with his family.
The Company also announces that Richard Aspland-Robinson, Executive Director with responsibility for acquisitions, has also resigned from the Board with immediate effect to run his personal family interests.
John Spencer, Business Exchange’s Chief Executive, said: “I would like to welcome Andrew to the Board. He is someone I have known for more than 8 years and he brings a wealth of corporate, management and finance expertise to the Company. I look forward to working closely with him to deliver the next stage in Business Exchange’s growth and development. He will be a tremendous asset to the Company.
“I would also like to take the opportunity of thanking both Keval and Rick for their contribution to the Company over the past 9 years and, on behalf of the Board, wish them all the success in the future.”
Malcolm Murray, Non- Executive Director, added: “Andrew’s appointment not only strengthens the Business Exchange Board but also brings a level of experience and expertise that will underpin our strategy for future growth.”
Ends.
Contact:
John Spencer, CEO, MWB Business Exchange. Tel: 020 7868 7268
Baron Phillips, Baron Phillips Associates. Tel: 020 7920 3161
Sandy Fraser N+1 Singer Tel: 0131 529 0272
Andrew Francis Blurton, aged 58, has a beneficial interest in 257,500 shares in the Company. Other than as set out below there is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM Rules in respect of Mr Blurton’s appointment today as a Director of the Company.
Current Directorships Past Directorships
Andrew Blurton Consultancy Limited 140 Park Lane Limited
Liberty Retail Pension Scheme 140 Park Lane (No. 4) Limited
Board of Trustees
Manroy Engineering Limited 175 Limited
Manroy Plc Arnlink Limited
Manroy Systems Limited Avanta Business Centres Limited
Avanta MWB (Bracknell) Limited
Bellsite Limited
Budget Offices Limited
Cave Du Vin Limited
Chainrange Limited
Custom Tours Worldwide Limited
Finlaw 536 Limited
Flowcart Limited
Gableworth Limited
Golf Hotel St Andrews (2008) Limited
Health Du Vin Limited
Hotel 123 Limited
Hotel Des Arts Limited
Hotel Du Vin Europe Sarl
Hotel Du Vin (Birmingham) Limited
Hotel Du Vin (Brighton) Limited
Hotel Du Vin (Bristol) Limited
Hotel Du Vin (Cambridge) Limited
Hotel Du Vin (Cheltenham) Limited
Hotel Du Vin (Edinburgh) Limited
Hotel Du Vin Edinburgh Property Limited
Hotel Du Vin Europe LP Limited
Hotel Du Vin (Glasgow) Limited
Hotel Du Vin (Harrogate) Limited
Hotel Du Vin (Henley) Limited
Hotel Du Vin Limited
Hotel Du Vin Newcastle Limited
Hotel Du Vin Newcastle Property Limited
Hotel Du Vin (Poole) Limited
Hotel Du Vin (Tunbridge Wells) Limited
Hotel Du Vin (Winchester) Limited
Hotel Du Vin (York) Limited
Jay Hotels Limited
Langcharm Limited
Liberty Centres Limited
Liberty Export Services Limited
Liberty Fabric Limited
Liberty Investment Limited
Liberty of London Limited
Liberty Prints Limited
Liberty Properties Link Owner Limited
Liberty Properties Link Owner No. 2 Limited
Liberty (Regent and Tudor) Holdings Limited
Liberty (Regent and Tudor) Holdings
No. 1 Limited
Liberty Regent Street Limited
Liberty Regent Street No. 2 Limited
Liberty Retail PLC
Liberty (RSPH) No. 4 Limited
Liberty Tudor Property Limited
Liberty Tudor Property No. 2 Limited
Londinium Investments Limited
London Park Lane Associates Limited
Malmaison (Aberdeen) Limited
Malmaison Aberdeen Property Holdings Limited
Malmaison Aberdeen Property Limited
Malmaison and Hotel Du Vin Holdings Limited
Malmaison and Hotel Du Vin Limited
Malmaison and Hotel Du Vin Property
Holdings Limited
Malmaison and Hotel Du Vin Property Limited
Malmaison (Belfast) Limited
Malmaison Brand Limited
Malmaison (Chart Square) Limited
Malmaison Europe General Partner Limited
Malmaison Europe LP Limited
Malmaison Europe Sarl
Malmaison Hotels Limited
Malmaison Limited
Malmaison (Liverpool) Limited
Malmaison (Oxford) Limited
Malmaison (Reading) Limited
Malmaison Resources Limited
Manorcall Limited
Marylebone Warwick Balfour Finance Limited
Marylebone Warwick Balfour Holdings Limited
Marylebone Warwick Balfour Management Limited
Marylebone Warwick Balfour Structuring Limited
Moorston Capital Limited
MWB Argyle Street Limited
MWB Asset Management Holdings Limited
MWB Baker Street Limited
MWB Business Exchange (Belgium) Limited
MWB Business Exchange (Birmingham) Limited
MWB Business Exchange (Canary Wharf) Limited
MWB Business Exchange Centres Limited
MWB Business Exchange City Tower Limited
MWB Business Exchange Europe Limited
MWB Business Exchange Pall Mall Court Limited
MWB Business Exchange St. Clements Limited
MWB Business Exchange Treasury Services Limited
MWB Cannon Centre Lease Limited
MWB (Cannon Centre) Limited
MWB Commercial Property Holdings Limited
MWB Congleton Limited
MWB Executive Centres (Austin Friars) Limited
MWB Executive Centres (Castle Square) Limited
MWB Executive Centres Limited
MWB Executive Centres (Solly Street) Limited
MWB Friar Street Limited
MWB Fund Management Holdings Limited
MWB Fund Management Limited
MWB (GMAC Finance) Limited
MWB Group Holdings Plc
MWB Hayes Gate Limited
MWB Hotel Holdings Limited
MWB Howard Hotel Limited
MWB Howard Hotel No. 1 Limited
MWB Howard Hotel No. 2 Limited
MWB (Industrial) Limited
MWB Investments Limited
MWB Kensington Village (Gloucester) Limited
MWB (Kensington Village) Limited
MWB (Kensington Village Pembroke) Limited
MWB (Kensington Village Warwick) Limited
MWB (Leisure II Carried Interest) Limited
MWB (Leisure II LP Shareholder) Limited
MWB Liberty Investments Limited
MWB (Maidstone) Limited
MWB Malmaison Brand Limited
MWB Malmaison CLG Limited
MWB Malmaison Holdings Limited
MWB Management Services Limited
MWB (Marble Arch Tower) Limited
MWB (Marble Arch Tower No.1) Limited
MWB Mitcham Limited
MWB (Old Bailey) Limited
MWB (Pall Mall) Limited
MWB Park Lane Investments Limited
MWB (Premier) Limited
MWB Project Management Holdings Limited
MWB Property Limited
MWB (Queensway) Limited
MWB (Queensway Properties) Limited
MWB Retail Holdings Limited
MWB Retail Holdings No. 1 Limited
MWB Retail Holdings No. 2 Limited
MWB Retail Stores Shareholder Limited
MWB (Royal Victoria Dock) Limited
MWB Serviced Office Holdings Limited
MWB Serviced Offices No. 1 Limited
MWB Serviced Offices No. 2 Limited
MWB (Tower Park) Limited
MWB Watford Limited
MWB (West India Quay) Limited
MWB West India Quay (Northern) Limited
MWB West India Quay (Warehouses) Limited
Out of the Box Catering Limited
Retail Stores Property Holdings Limited
Retail Stores Property Holdings No. 1 Limited
Retail Stores Property Holdings No. 2 Limited
Retail Stores Property Holdings No. 3 Limited
Rysbridge Estates Limited
ServCo (General Partner) Limited
ServCo Limited Partnership
ServCo Services Limited
ServCo Services UK Limited
Startland Limited
Superlative Investment Services Limited
Symbol Offices Limited
The Banbury Collection Limited
The Malmaison and Hotel Du Vin European
Limited Partnership
The Malmaison Company (Edinburgh) Limited
The Malmaison Hotel (Birmingham) Limited
The Malmaison Hotel (Glasgow) Limited
The Malmaison Hotel (Leeds) Limited
The Malmaison Hotel (Manchester) Limited
The Malmaison Hotel (Newcastle) Limited
The Waterside Apartments (Princes Dock
Management Company) Limited
Wealthcomet Limited
West India Quay Development Company Limited
West India Quay Development Company
(Eastern No. 2) Limited
WGP Management Limited
WGP (Two) Limited
This information is provided by RNS
The company news service from the London Stock Exchange
100BJD says:
June 16, 2013 at 1:12 pm
2 0 Rate This
================================
Perhaps Keiron Prior is simply enjoying the instant fame and elevation to great heights the Scottish media bestow upon people who are associated with Rangers. So far he’s a genius, indeed with the 2nd highest IQ of all time – well so we are told. Then again Whyte was a billionaire, Brian Kennedy was one of the greatest ever Scottish businessmen, Bill Millar was was one of the greatest ever American businessmen etc.
john clarke says:
June 16, 2013 at 11:47 am
ecobhoy says:
June 16, 2013 at 9:28 am
”Financial pressure saw the resignation of charity CEO Mark Boland on 31 March 2011 and it was decided Priority Trust would continue on a non-trading basis..’
——————————————————————
I phoned the Priorty Trust last night. The recorded message said that this was Mark Boland of the Priority Trust. Clearly not up to the mark, efficiency-wise! Either that or…
————————————————————–
The charity is still registered so there is probably some minimum requirement set by the Charities Commission about contact although to all intents and purposes it looks as though it came to a virtual stop by March 2011.
I wonder though if the collapse in funding in the second year could be down to the discrimination action that Prior was reported to have taken against Goldman Sachs in October 2009.
First year accounts to March 2009 great and everything looked rosy but in year to March 2010 the income had collapsed. The big problem seemed to be that wealthy donors who contributed 40% of first year’s income contributed zero in the second year.
Makes me wonder whether when the Employment Tribunal was in the air whether Goldman Sachs and colleagues there might have originally backed Prior’s charity but eased away when the discrimination claim was made. Pure speculation on my part but the collapse in funding is really significant and with such a wealth of talented trustees and people associated with the charity I really am surprised at the shortfall.
The aims and objectives of the charity are quite awesome when you read them in the Charity Commission website and it was certainly for a good cause but after an initial showing it really went downhill in terms of income received.
Sam says:
June 16, 2013 at 1:46 pm
MWB Business Exchange Plc DIRECTORATE CHANGES
==========================================================
Sam I’m obviously being a bit thick but could you explain what the post means?
ok…can someone fill us in regarding this twitter persona “Anorangaecount” and the spat last night?
I read his twitter feed where he says he will expose Charlotte tonight…
Read on here last night that Corsicacharity has also been threatened but i did not see this on the twitter feed…
wtf is going on….anyone?
ps…anorangecount posted on twitter two hours ago….
Castofthousands says:
June 16, 2013 at 11:27 am
Hello CoT. Made a backside of a post last night so had to check that I was ‘me’ again.
With regards To Stockbridge and Greens bonuses on leaving the SFL, this would have been well known in advance, so they could put in the various triggers. Remember Charlie saying they have, and never will play in the SPL, he knew all along that reconstruction was happening. All one has to do is to look at Regans letter last year about reconstruction ( The one which he wrote up quickly for others to act on before he jetted off), this has now come to Fruition.
Its all a scam and Chuckles knew what was happening from day one, and most likely featured in the ‘secret’ 5 way agreement. More importantly the rest of the SPL clubs knew about reconstruction too but waited till the last minute to implement it.
And we still do not know what teams will be playing in what divisions.
Sam
Can’t see the significance f the Andrew Blurton thing, but it is an unusual name which stuck in my head from reading something else a while ago. It is a very small world…
http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/new-and-recent-issues/new-recent-issue-details.html?issueId=8605
Rumours on RM that Mediahouse contract terminated !
What kind of nut house pays a bonus on another club not qualifying for part of a competition?
Charlotte Fakeovers @CharlotteFakes 25m
UEFA Licence – SFA Governance. The attached index and supporting evidence, up to mid November 2011, should (cont) http://tl.gd/n_1rkrrp8
Expand Reply Retweet Favorite More
http://www.scribd.com/doc/147863235/DOS-Index
Sam says:
June 16, 2013 at 1:46 pm
“MWB Business Exchange Plc DIRECTORATE CHANGES”
—————–
What conclusion would you have us draw from this long and detailed piece of information?
jean7brodie says:
June 16, 2013 at 2:48 pm
“Hello CoT. Made a backside of a post last night so had to check that I was ‘me’ again.”
————————–
On here you can be anyone you want to be. I used to be mullach but decided to mingle with the crowd to maintain anonymity.
test
Lots of TDs
Chancer
Rumours on RM that Mediahouse contract terminated !
——————————————
Their contract was up for renewal this month, so it won´t have been renewed rather than it being terminated.
If Jack and Ramsay have been sent on their way then it is cause for celebration for Rangers and the support. Might have a a wee drink if confirmed !
Something ecobhoy said this morning (11:35), about the McCoist remuneration package, which included all manner of things for winning CL games, etc, got me reading the share prospectus again. In doing so, I ran through no fewer than three statements to the effect that they cannot play in UEFA competitions before 2015, due to a requirement for three years’ trading history. I then reached to me what was the comedy highlight at the time, which I now share:
“Champions League and Europa League
The amounts paid to participating clubs in both competitions are split between the fixed amounts for
club performance as well as allocating bonuses based on the commercial value of the particular
UEFA Member Association’s TV market contribution (i.e. how much national broadcasters pay for
showing the rights in each country). In addition each club keeps all their gate receipts.
The fixed payments for the 2011/12 Champions League were €130,000 for each club knocked out in one
of the three qualifying rounds, €200,000 for each domestic champion that fails to qualify for the group
stage, €2.1 million for a club that reaches the play-off game before the group stage, €3.9 million for
reaching the group stage, €550,000 for each group match played, €800,000 for a group win and
€400,000 for a draw in the group stage, €3 million each for round of sixteen participants, €3.3 million
for each quarter-finalists, €4.2 million for each semi-finalist, €9 million for the winner, and €5.6 million
for the runner-up.
There is an additional variable amount that is dependent on the value of the clubs’ domestic TV markets.
The ‘Market Pool’ monies are divided between the national clubs based on that club’s position in the
previous season’s domestic championship and also on the basis of the number of matches they played in
that season’s UEFA Champions League (from the group stage onwards).
The fixed payments for the 2011/12 Europa League were €90,000 per round for each club that played in
one or more of the qualifying rounds, €90,000 for each club knocked out in the playoffs, €640,000 for
each of the forty-eight clubs in the group stage, €60,000 for playing in each group match, €140,000 for
a win and €70,000 for a draw in the group stage, €200,000 for each participant in the round of thirty-two,
€300,000 for each club that reached the round of sixteen, €400,000 for each quarter-finalist, €700,000
for each semi-finalist, €3 million for the competition winners and €2 million for the runners-up.
In addition, each of the fifty-six clubs in the Europa League receive an amount linked to the value of its
domestic TV market. This is distributed according to the number of national association clubs in the
competition and how far the clubs progressed in the competition.
For the 2012/13 season of the Europa League group stage participation is worth €1.3 million, with group
wins worth €200k and draws worth €100k. The overall group winners will receive €400k with payments
of €200k, €350k, €450k and €1 million for each round reached thereafter. The eventual winners receive
€5 million and the runners up €2.5 million.”
May we remind ourselves that they were selling shares in an enterprise playing, at the time, in SFL3? As so often, the word “delusional” seems inadequate.
Sorry, that could have been tidier. You get the gist.
I have had a quick scan through the latest set of docs and there are a few smoking guns in there.
In particular the denial of the existence of side letters by Murray Group’s Ian McMillan in item DOS22A. I find it astonishing that the FTTT failed to act on this as evidence of the level of cover up and deceit regarding the DOS and EBTs
Helluva quiet. Is everybody reading the DOS (Discount option scheme) trail of debris. Nice of Charlotte to collate it all for us in a tidy timeline. I’d imagine Auldheid will be lapping this up and preparing fresh correspondence to the authorities. Charlotte, even if you are CW (not my call, I’ve placed my bet already), thanks for taking the time and effort.
Castofthousands says:
June 16, 2013 at 7:57 pm
Agreed, much better presentation.
Now whatever happened to anorangecount on twitter?
easyJambo says:
June 16, 2013 at 6:21 pm
I have had a quick scan through the latest set of docs and there are a few smoking guns in there.
In particular the denial of the existence of side letters by Murray Group’s Ian McMillan in item DOS22A. I find it astonishing that the FTTT failed to act on this as evidence of the level of cover up and deceit regarding the DOS and EBTs
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
eJ, as this letter related to the DOS I don’t think the FTTT could really use it directly as that was concerned only with the EBTs. I guess,though, that the letter would be useful for showing a history of deceit
Castofthousands says:
June 16, 2013 at 7:57 pm
mmmm yes almost too good! I hope Santa Charlotte has decided to let lots of wee elves help …the clock is ticking louder! ,,,wonderful !
Just in case there is a global access issue, I’ll post up a link to some malaware that might assist anyone experiencing gremlins. After you link, if you scroll down you’ll see a free download. I would always be very wary of downloading stuff onto my computer without knowing its provenance so do some checking on ‘malaware bytes’ to satisfy yourself that it is legit. There is a full scan facility that takes nearly an hour but which should eke out any nasty bits of fluff. I like to switch off my router when I’m doing the scan cos I’m like that.
http://www.malwarebytes.org/lp/malware_lp/?utm_source=google&utm_medium=cpc&utm_term=malwarebytes%20|%20e&utm_campaign=Search%3A%20Brand%20-%20US&utm_content=sitelink1&gclid=CODhqoaq6bcCFdQZtAodUUoAog
scottc says: June 16, 2013 at 8:10 pm
eJ, as this letter related to the DOS I don’t think the FTTT could really use it directly as that was concerned only with the EBTs. I guess,though, that the letter would be useful for showing a history of deceit
=========================
You may well be right. The email is not mentioned specifically in the FTTT, although it is clear that HMRC had been asking for information about the EBT case from 2004 onwards.
DOS 04 ha this revealing statement :
“3. We raised a question in respect of any appeal process. HMRC explained that there was an appeal ‘window’ which closed on 20 June 2011 and that while the Club may still apply for late appeal, HMRCwould consider this action as ‘vexatious’ and would immediately apply to have action stuck out with the club being liable for all associated costs.”
This states that the HMRC monies were no longer liable for appeal but were due payment. The poster who broached the topic with the SFA recently could not use this as evidence of rule infringement but it is. We might not be able to prove rule infringement but we now know it happened.
A Uefa licence was issued to Rangers when they still had outstanding social taxes to pay in clear contravention of national and European regulations.
Castofthousands says:
June 16, 2013 at 9:13 pm
This is why I think these documents are very useful.
They provide corroboration for things which a lot of people have suspected for some time.
I think it is also interesting that Chris Chipperton felt he could get Terry Byrne and Richard Spence to assist in their dealings with HMRC. He says that Spence was a season ticket holder for 25 years and should be keen to help. Interestingly there is a Dick Spence on the RFFF committee. I think it is very likely to be the same person.
http://www.rangersfansfightingfund.com/
Look under committee
This will be the same Terry Byrne, in 2005
http://www.guardian.co.uk/money/2005/mar/23/scamsandfraud.uknews
Extract
“A former Customs commissioner has spoken out for the first time about the crisis within Customs and Excise, Britain’s oldest and most powerful law enforcement agency.
Terry Byrne, until recently director general of Customs law enforcement, has given his first detailed information about a disastrous series of fraud prosecutions which led to a major government inquiry, and reveals the events that led to his suspension in September.
Mr Byrne, who is interviewed on BBC1’s Panorama tonight, is one of about 20 customs officials under investigation by the Metropolitan police over allegations relating to a series of duty fraud operations. The prosecutions were related to frauds involving the evasion of duty on alcohol from a tax free warehouse called London City Bond (LCB). ”
———————————–
So basically they were talking about getting a very senior HMRC Investigator (retired), and a Scottish HMRC Investigator (retired) (and big Rangers fan) presumably with influential contacts to intervene on their behalf. Telling HMRC that they couldn’t do these things to “a Scottish Institution”.
Hi,
I have not posted since last October and have decided to come back and enter the debate.
I have been an avid reader and will have much comment to make.
I sort of threw the dummy out of the pram when I objected to posts being deleted, which to me were inocuous.
I hope to be circumspect in my comments.
A few thoughts.
Last week someone posted about an offshore compant called Rooster something or other.
Strange that that Rooster is G. Gillsepie’s nickname-associate of Souey.
Time to move on I think and I hope I am welcome back
Cheers
Hoopy 7 says:
June 16, 2013 at 9:56 pm
Welcome back to the fold!
Castofthousands says ;@9:13
I was the poster who spoke to the SFA about the licence issued to RFC for 2011/12 and was told by The Head of Communications that the debt in question was not due yet then the SFA were correct in issuing the licence.
Obviously I need to be careful what I post but that is what I was told, if it transpires that this information is wrong then we have a situation where the governing body of Scottish Football issued a licence incorrectly.
Do they not have a legal department at Hampden who are able to check the financial health of their members or is something more sinister afoot, I suspect the latter,and I call on this forum to stop being a talking shop and to come up with a credible plan to stop this corruption that is destroying our game.