Three Shakes … and a Twist

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Guest Post by James Forrest
Those who like to read the techno-thrillers of Tom Clancy will remember well the scene in The Sum of all Fears, when the nuclear bomb explodes in Denver, outside the stadium where the Super Bowl is being played. Clancy handles the moment in two very distinct chapters. The second is a vivid and frightening examination of the explosion’s terrible effects as they are felt, firstly in Denver and then experienced around the world.

Before that, he devotes an entire chapter to the mechanics of the explosion itself. Chapters like this are either what attract readers to Clancy in the first place or turn them off entirely. It is technical, it is complex, and the layman who reads it and fully understands it is indeed a massive geek. Of all the times he has loaded the reader with technical detail, this is probably when he risked most in terms of keeping you interested in the story. Yet it works. The chapter is not long, but nor is it short. And the events in it span not seconds but fractions of a second

It was in that chapter I first learned the term “shake”, so named for the old aphorism “a shake of a lamb’s tail”. A “shake” is a term used in nuclear physics. It represents ten nanoseconds. To grasp fully the size of that, consider that there are a billion nanoseconds in a second. The chemical process involved in a nuclear detonation involves a number of “shakes”, with a chain reaction usually completed in 50.

Clancy’s decision to devote an entire chapter of the book to a few nanoseconds came back to me over and over again during the weeks and months of the Rangers crisis. It became clear to me that, drawn out though the events following administration were, what we were seeing was not the effect of the explosion but the explosion itself. Those months were our nanoseconds. Every day, every revelation, every moment we thought was a separate event, was merely a peek inside the bomb case, at the chemical process of a chain reaction.

I would say the chain reaction was completed on the day HMRC announced they were refusing the CVA proposal. That was the detonation. It’s only now we’re witnessing the explosion, and its effects, and in my view we are still a long way from the end of that process. We have had the initial double flash thermal pulse and we’ve seen some EMP effects, but the real damage is still to come. The shock wave and the fireball have yet to spread, and their cumulative effects could yet annihilate Ibrox and extend as far as Hampden.

Am I making claims of “financial Armageddon”? No, I’m not. I never believed the collapse of Rangers would devastate Scottish football. I thought then, and now, that it was scaremongering nonsense to even suggest it. It didn’t matter to me whether the authorities were spreading those stories because of a deep-seated love of the Ibrox club, or because they had bonuses at stake, or out of their own internal, personal weaknesses. Those stories were inconsistent, based on worst case scenarios which were never likely to materialise, and insulting. The notion that the game in this country amounts to no more than one or two teams is offensive.

I love football. I always have. I’m a Celtic supporter, but my interests in the game extend far beyond my own club. At its best, football is a tremendous unifier of people, from those wonderful stories about Christmas Day in the trenches of World War I to the matches organised every year between Palestinian and Israeli children. The game has the potential for tremendous good. I am proud that my own club’s supporters have honoured the dead of Hillsborough and Ibrox. I am proud they unfurled a banner to the Benfica player Miklos Feher, and invaded Seville and showed that city how to party. I am proud of every moment when the supporters of a club applauded an injured player, or staged a silence to honour an official or competitor at another team. Although there are some who would use this sport in a divisive way, who would hijack it for their own ends, I believe this game can still be an inspiration, and find the best in all of us.

I think what happened during this summer, as the fans of every club in the land made their voices heard, was one of the greatest moments in Scottish football’s recent history. I believe it will have an impact far beyond one season. I think it was special.

My concern, as I’ve said, is that the appalling effects of the detonation at Ibrox are still to be fully realised. I am worried about the impact they could yet have on all of us.

Let me be quite specific about the two things that worry me most. They are to do with the decision to grant Sevco/Rangers a license to play in the Scottish Football League this year.

First, I believe the license was granted without sufficient guarantees being given by Charles Green and others that they would respect the decisions taken by the independent judiciary panel of the SPL in relation to EBTs, and secondly, I am concerned that not enough is known about Green and his financial backers, or plans for Rangers, for the authorities to be satisfied that the club is in good financial health. I don’t believe for one second anyone can allay my fears in these two areas. It is obvious to all that due diligence has not been done, and the entire situation at Rangers/Sevco is still shrouded in doubt, and that anything may yet happen.

The independent panel investigating dual contracts is going to have to make the most momentous decision in the history of the game in the UK. I do not believe what Rangers are accused of has any precedent. We are talking about a decade or more in which the results of every single match might be in doubt. Every single game. The rules were not written to envision such an appalling breach of faith. It would seem almost inevitable that stripping of titles will be the smallest of Charles Green and Ally McCoist’s concerns if this verdict goes against them.

Frankly, I don’t see an alternative to suspending Rangers membership of football in this country for at least two years, with points deductions and monetary fines to follow when the suspension period is done. This is not harsh; in fact it falls far short of the maximum penalty, which is expulsion from the game altogether, and as it is the authorities are going to have to do a damned good job of setting out the reasons why that ultimate sanction is not applied. It will not be enough to say it would damage the game in Scotland to wipe the club away. To allow a decade of malfeasance to pass without that ultimate sanction would create the perception that Rangers is above the law, and I cannot think of anything that would do the game more harm than for any club to be considered too big, or too important, to be subject to the regulations.

With their money on the table, I don’t see any way Charles Green and his cohorts will accept the judgement of the independent panel if it has an impact on their plans to recoup their investments. With the way he’s rallied the Rangers fans behind him recently, by essentially talking about a conspiracy against them, I don’t see how he convinces them to accept sanctions, even if he personally was inclined to do so. He has painted himself into a corner where now, if he wants his money at all, he has to fight, and keep on fighting. Without the written guarantee that the club would accept whatever the panel decides, without recourse to the law, I will be shocked if this matter doesn’t end up in the courts somewhere down the line, because I don’t think for one second he signed up to that particular demand.

I think the SFA backed down on this, the most fundamental matter of them all.

Which isn’t to say the due diligence matter isn’t worrying, because, of course, it is. Again, no-one is going to convince me that the SFA has conducted proper due diligence on Charles Green and his backers. No-one will convince me they are satisfied that this club is in safe hands, and that the game in this country will not be rocked by a further implosion at Ibrox. They failed to properly investigate Craig Whyte, because of lax regulations requiring disclosure from the club itself, regulations which are just a joke, but they can be forgiven for that as the press was talking sheer nonsense about him having billions at his disposal, and a lot of people (but not everyone!) were either convinced or wanted to be convinced by him.

To have witnessed what Whyte did, to have witnessed the Duff & Phelps “process” of finding a buyer, and having Green essentially emerge from nowhere, with a hundred unanswered questions as to his background and financing, for the SFA to have given this guy the go ahead, only for it to blow up in their faces later, would annihilate the credibility of the governing body and necessitate resignations at every level. There would be no hiding place.

At an early stage in the Rangers crisis, a couple of people told me they thought the club would not play football for at least a year. I told them of all the possible scenarios that was the most unlikely, because I honestly could see no way back for them once they had gone. There is no precedent I am aware of, anywhere, for a football club taking a “year out” only to return. Certainly, in the context of the Scottish game I didn’t see how it could be done without creating one almighty shambles, or by bending the rules until the elastic snapped.

Yet I’ve since become convinced that it was the correct course of action. The club calling itself Rangers FC is still in a state of flux. The issues still surrounding it are enormous and potentially devastating. There are any number of ways in which the entire edifice could utterly collapse. The liquidators and HMRC could yet challenge the takeover, or the coming share issue. Craig Whyte may yet emerge and take a claim to the courts. The share issue itself could be an utter failure, leaving the club unable to meet annual running costs. All of this, even without the vast effects of the EBT case, which has the potential to wash the whole club away.

Had Rangers been out of the game for a year, these issues could have been properly explored, dealt with and put behind them, and the game as whole.

Of course, it’s just possible that the worst is over. It’s possible that this particular nuclear detonation, like the one is The Sum of All Fears, is an enormous “fizzle”, that the appalling destruction unleashed will not be on the thermonuclear level which could obliterate our hopes of a fresh start, of forward motion for the whole game. It might be that everything at Ibrox is hunky-dory, that this, all I’ve written, is the product of a febrile imagination, on the same level as the financial Armageddon nonsense we spent the summer hearing about.

It may well be, but only if the people who’ve been right all along have suddenly gotten it wrong. The evidence all points to something big, and bad, coming this way.

The smart folks will be hunkering down in their shelters for a while yet.

James is a co-editor of the Famous Tartan Army Magazine, latest issue out 17th October (digital, and free), featuring women’s football

http://en.calameo.com/read/001382993b7dff7feed1b

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About Trisidium

Trisidium is a Dunblane businessman with a keen interest in Scottish Football. He is a Celtic fan, although the demands of modern-day parenting have seen him less at games and more as a taxi service for his kids.

2,174 thoughts on “Three Shakes … and a Twist”


  1. Last night was not my finest hour.
    I’d like to apologise unreservedly.


  2. bestdressedchicken says:
    Thursday, October 25, 2012 at 22:58
    ‘..Last night was not my finest hour.
    I’d like to apologise unreservedly.’
    —-
    Well said.Good man.


  3. bestdressedchicken @ 22:58

    It takes a big man to admit that he was wrong


  4. I notice in D&D’s statement that they never denied that they knew. It is all about ‘context’ in their statement. It’s a simple question; Did they know about the Ticketus deal prior to being appointed administrators. Is there any journalist in this country willing to ask this question.
    Really disappointed in RTC’s tweet. If, after all of this evidence, there is nothing done regarding the sale of assets in this fiasco then we should simply just close down HMRC and save the country the relevant cash.
    Ultimately Lance Armstrong never failed a dope test but the annecdotal evidence was overwhelming. Why is that not the case in tax?
    Everybody who has even had a cursory view of this evidence over the last year or so knows that there is something far wrong here.
    Standing on the outside looking in this has been a frightening lesson into business practice and corporate/tax law in a civilised country in the twenty first century.


  7. abcott says:
    Thursday, October 25, 2012 at 23:13

    Is there anything that D&P did right?

    ===========================

    That’s a bit like Craig Whyte, it depends on one’s perspective.


  8. So according to MD,Collier Bristow want Greir as a defence witness against the Duffers.This could lead to D&P being held liable by the creditors.
    Think the statements from Marty in NY are going to be interesting sooner rather than later.


  10. Agrajag says:
    Thursday, October 25, 2012 at 23:20
    0 0 Rate This
    abcott says:
    Thursday, October 25, 2012 at 23:13

    Is there anything that D&P did right?

    ===========================

    That’s a bit like Craig Whyte, it depends on one’s perspective.

    —————————————————————

    From the perspective of what they were supposed to be doing as administrators.


  11. obonfanti88 (@obonfanti88) @ 23:27

    Even if they don’t have him as a co-defendant, they could put him in the box, and question him under oath
    Either way the pain for all of them will be excruciating


  12. campsiejoe says:
    Thursday, October 25, 2012 at 23:31

    obonfanti88 (@obonfanti88) @ 23:27

    Even if they don’t have him as a co-defendant, they could put him in the box, and question him under oath
    Either way the pain for all of them will be excruciating
    ———————————————————————————————————————
    Right now Marty & Co wish they could put him in a box! :mrgreen:


  13. Lord Hodge asked D&P for a statement regarding the conflict of interest. Did Whyte wait till they had given Lord Hodge there statement to trap them ?


  14. let the patry commence !!
    about blooming time, this “story” should be national news, I also think perhaps a public inquiry should be on the cards……..


  15. torrejohnbhoy says:
    Thursday, October 25, 2012 at 23:24

    So according to MD,Collier Bristow want Greir as a defence witness …

    ==========================

    They could have him as a witness just by citing him.

    I took it to mean they wanted him added to the action, as a co-defendant. As in, if anyone acted in such a manner as to lose Rangers the opportunity to obtain £25m, then he was one of the people involved in doing it.


  16. To summarise tonights news:
    D&P could end up defending themselves against themselves in an action over who can claim £25m that never existed in the first place.
    Oh what a tangled web we weave…………………………..


  17. obonfanti88 (@obonfanti88) says: Thursday, October 25, 2012 at 23:14

    …
    Isn’t it funny how Craigy doesn’t do the “I, I, I, I, I” things on the tape
    ===============

    Was thinking something similar myself.

    What if wee Craigie had his own book published – and he narrated the audio version?

    Err, I, err, I… it would take a couple of weeks to listen to it cover to cover. 😉


  18. Agrajag says:
    Thursday, October 25, 2012 at 23:43

    torrejohnbhoy says:
    Thursday, October 25, 2012 at 23:24

    So according to MD,Collier Bristow want Greir as a defence witness …

    ==========================

    They could have him as a witness just by citing him.

    I took it to mean they wanted him added to the action, as a co-defendant. As in, if anyone acted in such a manner as to lose Rangers the opportunity to obtain £25m, then he was one of the people involved in doing it.
    ==============================================
    I’m sure your right.Most of this legal stuff baffles me.Fair enjoying it though.Every day’s a schoolday on here.Long may it continue(and it don’t show any signs of stopping soon).


  19. RANGERS STATEMENT
    (Issued on behalf of Duff and Phelps)

    “As we have previously stated, Duff & Phelps maintains that our conduct of the Rangers Administration was carried out to the highest professional standards. We do not respond to information that is taken out of context, as we believe is the case in the BBC story. We welcome the opportunity to review a complete copy of the information that the BBC references in its story.” – Marty Dauer, Duff and Phelps spokesperson.
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    Maybe they can explain how those professional standards allowed a continuation of players and management salaries to continue…with a running loss estimated at around £10 million a season…and chose a deferral as an appropriate option…

    And how they preferred selling the assets for £5.5 million when they allegedly had 3 other alternative offers that ranged from £15-£20 million..


  20. justshatered says:
    Thursday, October 25, 2012 at 23:09
    ‘..Standing on the outside looking in this has been a frightening lesson into business practice and corporate/tax law in a civilised country in the twenty first century…’
    —–
    It’s a jungle out there, still!

    Business and commerce ( the backbone of our Parliamentary democracy!) are in a bind.

    No company wants to be shafted by another defaulting company, BUT at the same time wants to be free to shaft other companies, by being able to stiff their creditors and ‘phoenix’, if they get into trouble financially.

    Our Insolvency legislation is absurdly soft and vague.

    Even worse, the generally sympathetic attitude adopted by the Insolvency Service( that we pay for!) is highly questionable. ( I ask you! A public service more or less dedicated to helping fecking dodgy businesses escape from their debts! Read their webpage).

    So, the Del boys of blue chip companies, just as much and just as readily as downmarket, super-fast Yorkshire footballing and school 100-yards- dash record holders, can carry on , if need be, ripping people off, knowing that they’re virtually immune from legal sanction.


  21. Will Duff & Phelps have their titles stripped, by ACQ 🙂


  22. Who thinks the The Great Pretender (Chuckie) tried to get his share issue up and running quickly before CW stuck his heid up and spilled the beans?

    I am also pleased to report that I have discovered a scret video tape of the moment Mr Whyte was told by Mr Grier of Duff & Duffer that the bill would be more than he had hoped for. As this was a covert recording (please also note Whytey hadn’t shaved for a few days, been laying low) I have decided to take out the voices as some might misconstrue what was said. As you get to around 5 seconds it will add dramatically to your viewing pleasure if you can say out loud the words uttered by Mr Grier at this point which were ” THE BILL IS UP TO AROUND £3 MILLION AT THIS POINT CHRIS” . I must stress that saying this out loud with the sound on will add to your enjoyment of this covert recording and please do not please be frightened by his reaction.

    Here’s your link
    http://www.youtube.com/watch?v=5ucGx5LPwEc


  23. Smartie1947

    “What will it take for one of the big three viz The Sun, the Daily Record or STV to break ranks..?”
    ——————————————————————————————–

    Smartie, that’s not three, its four. And as far as I can recall, Viz have no connection to Rangers at all. Unless..

    Charles Green is really Gilbert Ratchet.
    Jabba and Chicko are the Fat Slags.
    Leggat is Johnny Fartpants.
    Bomber Brown is Buster Gonad.
    Gordon Smith is Helpful Herbert.
    Campbell Ogilvie is Ivor the Skiver.
    Neil Doncaster is Jelly Head.
    Stewart Regan is Norbert Colon.
    Walter Smith is One Cut Wally.
    Ally McCoist is Professor Piehead.
    Sandy Jardine is Roger Mellie.

    It wouldn’t surprise me because every single one of them is a feckin joke.


  24. I am concerned about Sir Charles. Normally he can’t stop himself spouting to the media at every possible turn. Yesterday (Thursday) he was scheduled to be the guest on Talksport, extolling the Sevco share issue to the nation. Strangely he went a.w.o.l.

    After Mark Daly’s first spot on Reporting Scotland this week you would have thought that Charlie Boy would have been quick out of the traps with statements and denials to distance himself from the Motherwell Mogul. Strangely, not a peep from the verbose tyke.

    I note that the bears are beginning to question Mister Green’s deafening silence on their messageboards. Could it be that even they are starting to put 2 and 2 together?


  25. Just for fun, and to remind myself that one of the planks of this blog is the belief that our MSM have been ( BBC Scotland TV, but not radio!) have not done any kind of professional job on what is for us in Scotland quite a big story of possible graft and corruption, i fired off the following email to the New York Times business guy.

    ‘Good evening from the beautiful, soon to be independent, nation of Scotland.

    Duff and Phelps, New York based insolvency practitioners, are presently trying to cover their ass in relation to the doings of their UK employees.

    It seems that Paul Clark and David Whitehouse, of Duff and Phelps in the UK, have perhaps been involved in deceiving the Court of Session in Edinburgh, in their role as court appointed administrators of Glasgow Rangers Football Club.

    There is growing belief that they were party to some kind of ‘conspiracy’ to ensure that the assets of the club were sold dirt cheap to the man who offered the least, while racking up millions of pounds in fees by prolonging the ‘administration’ process.

    BBC TV Scotland yesterday released, and again tonight confirmed, that they had tapes of conversations that demonstrate that Duff and Phelps were ‘conflicted’ when they accepted appointment by the Court as administrators.

    Marty Bauer, D&P’s troubleshooter has had to make a public statement in response to the BBC program.

    Worth a wee look, because the root cause of Rangers Football Club’s financial troubles leading to administration is alleged to be ‘financial doping), paralling the drug doping in the cycling world of Lance Armstrong.

    As a ‘real’ New York Times journalist, I would imagine that you might already be acquaint with the story.

    Our native journalists seem to be afraid to discuss the affairs of Glasgow Rangers, afraid of ‘retaliation’ from threatening fans of that club, one or two of whom have, in the recent past, shown a predilection for sending bullets through the post to people that they did not like!

    If you have an idle moment, you might find some entertainment in making a phone call to Duff and Phelps.

    It might be worth a paragraph or two as a bit of minor city gossip with a European touch.

    Have a good day.


  26. You will see that I meant BBC TV Scotland excepted, but not radio Scotland! Mark Daly ( and his editor and producer) have done well so far.


  27. Tommy: Charlie is terrified. He was worried about making a profit, now he is caught bang in the middle of a multi million pound fraud. Being mentioned by Grier in the recording will have shook him. He doesn’t just have to worry about what he himself has said to Craig, he has to worry what loose tongues like Griers will reveal about him and his involvement.


  28. And lets not forget D&D’s highest professional standards included allowing the attempted purchase of Danial Cousan to add to the clubs £10 million running loss…


  29. ordinaryfan says:
    Friday, October 26, 2012 at 01:07
    ‘.. he has to worry what loose tongues like Griers will reveal about him and his involvement..’
    ————-
    Possibly the best known conspiracy in the history of Europe was that which targeted Julius Caesar.

    It succeeded in so far as the conspirators got rid of a baddie, the AC/DC archetype of continental dictators, perverted in his unbridled lust for power.( Like wee feckin Napoleon and even feckier Adolph and all the rest, including mad woman Thatcher….)

    ( Strike that last comment as being irrelevant, incompetent,… but actually true, but perhaps veering off topic)

    But because each conspirator was working for his own personal ends , they soon fell out.

    We are seeing clear evidence in this RFC (IA) saga that there is indeed no honour among thieves-and even less honour in those who hang on to the coat-tails of thieves and do their bidding!

    Charles Green ,Yorkshire spiv whom the decent people of Yorkshire would not wish to know, has at least got some of them elliptical male appendages.

    His hangers on and media supporters and cheerleaders are like Herr Goebbels ,ball-less, gutless, spineless apologies for men.

    In my humble opinion.


  30. D&D also allowed season ticket holders to continue using their season tickets even though the club was running at a £10 million a season loss….


  31. paulmac2 says:
    Friday, October 26, 2012 at 01:52

    D&D also allowed season ticket holders to continue using their season tickets even though the club was running at a £10 million a season loss….
    ”””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””

    That would be because the plan was already being hatched to keep them onside to buy this seasons tickets and into the future “share issue”, granted they assumed/believed or “understood” that this seasons tickets would be for the SPL but the plan for the share issue was always the same and the last thing they could do was alienate the very fans who would be digging into their pockets to by the dream which was at that time just a twinkle in Charlies eye.


  33. john clarke says: Friday, October 26, 2012 at 01:01

    Just for fun, … I fired off the following email to the New York Times business guy…

    ==================

    JC – I’ll see you your NYT email and raise you a WSJ email. 😉
    Hopefully someone will bite?
    My updated emails sent yesterday;

    From:
    To: Bcc: ;
    Subject: Duff & Phelps.
    Date: Wed 10/24/12 6:26 PM

    Dear Sir / Madam,

    in follow up to email attached, Duff & Phelps New York HQ is now actively involved in this developing UK story, per Statement issued today.

    RANGERS STATEMENT (Issued on behalf of Duff and Phelps)
    “As we have previously stated, Duff & Phelpsmaintainsthatourconduct of theRangers Administration was carried out to the highest professional standards. We do not respond to information that is taken out of context, as we believe is the case in the BBC story. We welcome the opportunity to review a complete copy of the information that the BBC references in its story.”
    – Marty Dauer, Duff and Phelps spokesperson, [NYC].

    http://www.duffandphelps.com/expertise/our_team/Pages/bio.aspx?itemid=91&list=People

    http://www.bbc.co.uk/news/uk-scotland-glasgow-west-20074388

    Regards,


  34. Duff & Phelps: Reputation Protection.
    ==============================

    By coincidence, just found out that the D&P Q3 Corporate Earnings Conference Call was today, [Thursday] at 5pm.

    See webcast link below, with the introduction from our friend Marty Dauer.

    Listening to some of it, there was a passing reference to MCR wrt to the acquisition last year.
    Didn’t expect any reference to RFC(IA), but listened to analyst questions at end of audio, just in case. Doesn’t register, and immaterial wrt to D&P earnings >$100M for the quarter.

    But what cannot be ignored is that when you Google e.g. “Duff and Phelps New York October 25 2012”, in amongst financial publications, investor relations information and corporate communications, you also get some pesky links to internet bampots including Paul McConville and our own TSFM.

    In the great scheme of things the RFC(IA) business is buttons for D&P globally – but will soon be causing a disproportionate amount of reputational grief to the D&P brand in the UK, and to their European expansion ambitions. And then there could be significant litigation risk to follow ?

    Marty will be working hard for his bonus this year… 😉

    http://ir.duffandphelps.com/phoenix.zhtml?c=212662&p=irol-news&nyo=0


  35. I saw a film once when i was younger, the Greeks i think and some other army about to get it on. As the oncoming army rode full pelt towards them, the other side remained very cool and just when you thought the end was nigh, the soldiers all turned their shields towards the sun and dazzled the oncoming hordes towards a large cliff whereby the dutifully rode over the edge.
    There are so many analogies one could use to describe the current situation at the TRFC but surely someone has to call a halt here, it is getting really embarrassing to see the so called great and the good being led to the slaughter, like sacrificial succulent lambs, at the foot of the marble staircase to prove their loyalty to the puppet master, whoever they may be.
    It needs to stop ! Someone, and i don’t care who, whether you are a judge or a senior exec in either the SFA or at EUFA , needs to bring this whole charade to a halt before we all end up going over the edge. Like the guy who was going to kill his only son to prove he was loyal to his god, ok we got it, now put the bloody knife down and get the kid home to his Ma. Come on, who is going to step up and bring and end to this whole farce ?


  36. Celtic Underground ‏@celticrumours

    Hearing rumours that Ogilvie signed off on at least 10 EBT’s and side letters. That’s President of the SFA Campbell Ogilvie

    Lets look back at Mr Ogilvie’s account of his role in administering players contracts whilst an officer at Rangers Football Club:

    http://www.guardian.co.uk/football/2012/mar/14/sfa-president-campbell-ogilvie-rangers

    Ogilvie said: “In light of today’s comments by [former Rangers owner] Sir David Murray, and the ongoing speculation surrounding my role as president of the Scottish FA and my previous employment as a director of Rangers FC, I would like to take this opportunity to clarify the following points.

    “I was aware of the EBT scheme in operation at Rangers during my time at the club and, indeed, was a member. The existence of the scheme was published in Rangers’ annual accounts.

    “My role at Rangers, until the mid-90s, included finalising the paperwork for player registrations.

    “As confirmed by Sir David Murray today, it was never my role to negotiate contracts during my time at Rangers.

    “It is also worth noting that, since the mid-90s, I was not responsible for the drafting or administering of player contracts.

    “I ceased being company secretary in 2002 and became general secretary responsible for football strategy, in effect becoming the main point of contact between the club and the respective league and governing bodies.

    It will be interesting to see how this plays out.


  37. Gary Allan, the QC who sat on an SFA three-man panel which
    punished Rangers FC in May for bringing Scottish football into
    disrepute, has complained about threats made to him and his
    family in the wake of the hearing.

    Mr Allan has expressed particular dismay at Rangers manager Ally McCoist who, when the punishments were announced, publicly called for the names of the panel – which were supposed to remain anonymous – to be made known.

    “I was told I should take mail into the smallest secure room with the fewest windows and have the family somewhere else in the house whilst I opened the mail.”

    http://www.heraldscotland.com/news/home-news/rangers-fine-qc-speaks-of-threats.19248262


  39. From The Herald.
    Turmoil at Dunfermline.One name well kent on here!

    Boardroom crisis at club
    Greig Cameron
    Deputy Business Editor

    A Scottish football club is facing turmoil after the resignation of seven directors, sparking fears among fans over the future of the club.

    Those who have stepped down from the board of Dunfermline Athletic include club legend Jim Leishman.

    Documents filed at Companies House show vice-chairman Rodney Shearer, who runs KDM Shopfitters, and chief executive Bill Hodgins have also left.

    Craig McWhirter, who heads software company Bitwise, Christopher McBay of music retailer Guitar Guitar, motor dealer Stephen Curtis and Iain Jones, also of KDM Shopfitters, are the others who stood down.

    Sources indicated to The Herald the boardroom split centred on attempts to buy the East End Park side from the club’s major shareholder, retired Bank of Scotland executive Gavin Masterton.

    Some directors are thought to believe the Scottish First Division club would be better placed to thrive outwith the ownership of Mr Masterton’s Charlestown Holdings vehicle. Members of the Dunfermline board are also understood to have been pressing for Mr Masterton to take professional advice over potential ways to restructure his business interests.

    When contacted, Mr Masterton said: “We will be making a comment about [the resignations] in due course.”

    The lifelong Dunfermline supporter did not want to say anything on the financial situation at the club.

    A club statement last night said there was now a Dunfermline board running the first team and East End Park and a second subsidiary board, named Black and White, which will focus on developing the club’s youth programme.

    Long-serving chairman John Yorkston is still in place. He played down the resignations, saying six of the seven would still be involved in the club in some way. He did not specify which roles those staying would take although he said four will move to Black and White.

    It was later confirmed Mr McBay and Mr McWhirter would be moving to Black and White.

    Mr Yorkston said: “Bear in mind we had 11 directors. We are re-shaping it. There is only one leaving us. The others are still going to be involved.

    “It is getting things a bit clearer on who is doing what.”

    Mr Yorkston repeatedly declined to name the director who was severing all ties.

    A spokesman for Dunfermline Athletic Supporters Club said: “This is quite concerning and very confusing.

    “It is clearly not a good thing to see this number of directors resigning.”

    The most recently available accounts for Charlestown Holdings – which has interests in property and document storage – show it made a near-£4.2m pre-tax loss and had net debt of around £35.2m in the 12 months to May 31, 2011.

    Dunfermline’s accounts for the same period show a loss of £431,621.

    The accounts show Mr McWhirter’s Bitwise had loaned Dunfermline £95,000 while Mr Curtis was due £113,600, Mr Leishman £21,919, Mr Shearer £15,667 and Mr McBay £224,000. Steve Curtis Cars was also due £25,000.

    It is not yet known whether any of directors who have resigned may now try to call in their loans.

    In the accounts filed at Companies House Dunfermline are shown to owe £5.8m to East End Park Limited, which is believed to own the club’s stadium and is itself owned by Charlestown Holdings. Charlestown Holdings is owed £2.4m.


  40. Re my post at 00.16 you will of course have spotted my error on the line I asked you to say out loud as you viewed the video. It should be Craig not Chris.

    On my serious point in that post what is The Great Prenteder thinking this morning? Where does his share issue go from here? Ineresting Tommy if he did indeed cancel a talksport spot and I agree with you Ordinary fan chuckie must be Terrified. He associates in the purchase in what was a sure thing, a gold mine, must be asking questions of him today. What a SAGA this is. As I said in a post a week or so back all involved are members of The Self Preservation Society so this is going to get so dirty and there are more twists to come.


  42. iamacant says:

    Thursday, October 25, 2012 at 22:32

    31

    1

    Rate This

    Senior says:
    Thursday, October 25, 2012 at 22:15

    ‘In the light of this evening’s BBC Scotland revelations, I wonder if there are now a few twitchy bums on the 6th floor at Hampden for so readily taking Grier’s outfit at their word?’
    _________________________________________

    News update 22.11 – The Fat Lady has, reportedly, been seen entering the Theatre..
    —————————————————————————————————————–
    This’ll just be for the rehearsals before the show starts then.

    I’ll bet Jabba and Chick are the pantomime horse this year with Doddsy as the clown.

    Guidi is bound to be one of the ugly sisters
    _________________________________________________________________________-

    So, will this be the first ever time a pantomime horse had two arses?


  43. Father Murphy says:
    Friday, October 26, 2012 at 08:03
    0 0 Rate This
    Lord Wobbly What have you done with Stunney ?
    ~~~~~~~~~~~~~~~~~~~~~~~~~~
    I held off posting for…oooh…literally seconds… before deciding that ‘if you snooze you lose’. 😀


  44. Lord Wobbly says:
    Friday, October 26, 2012 at 07:41
    4 0 Rate This

    http://www.heraldscotland.com/sport/football/no-quick-way-back-to-top-flight-for-rangers-says-united-chairman.19248113
    ————-

    Wobbly,
    Good to see The Herald starting to report. The Sun, which was apparently handed a dossier by Whyte, carried these highly-revealing facts ths morning:

    “The dad-of-two [Whyte] — who is getting divorced from wife Kim — has been dating sexy Swedish girlfriend Izabella Andersson. The gorgeous 32-year-old student — who can speak four languages — was even spotted in the Ibrox directors’ box in a plunging dress at an Old Firm clash. Whyte added: “We are still together and we are very happy. “We have no wedding plans but it would be difficult as I’m still married.””

    And there’s more …

    “Dressed casually in designer jeans, shirt and blazer, he admitted: “I’m the least photogenic man in the world and I hate appearing on the television.””

    If you’re in doubt about this last statement the accompanying photo proves his point. I’m sorry, but this guy is in a different league from Charlie. I’ve started to cheer up when I see articles or photos of the Monaco-based, 70-room-castle-owning businessman. His re-arrival has given the tale a much-needed humour injection. Well, in The Sun at least. 🙂

    http://www.thescottishsun.co.uk/scotsol/homepage/news/4609914/All-this-has-hurt-two-Gers-fans-more-than-me-my-mum-and-dad.html


  45. More from The Sun:

    Craig Whyte says that EBTs only stopped once he bought the club

    The system of paying players sparked the £94million tax battle with HMRC and the club’s downfall.
    But ex-Ibrox supremo Whyte insists some stars were being paid through EBTs in 2011 despite being warned about them FIVE years ago. Last night he said: “The EBT scheme only stopped when I took over the club.
    “I get asked all the time if I bought the club to help out Sir David Murray — this is utter rubbish. I did it because I thought I could get out of the tax liability and come out the other side.
    “David is a brash character and he has maybe buried his head in his hands.”
    And he claims the club had enough cash to stop it from sliding into liquidation. He said: “Three or four years ago the club could have cut overheads. That could have paid off the bank over draft. The club would then have enough to put a payment down on the potential EBT liability.
    “But they didn’t even stop the EBT scheme. It was madness.”
    Last night a spokesman for Murray said: “We stopped using the scheme in December 2010 as per the new legislation. There were no further payments.”

    http://www.thescottishsun.co.uk/scotsol/homepage/news/4609931/EBTs-ended-by-buyout-claims-Whyte.html


  46. Lord Wobbly says:
    Friday, October 26, 2012 at 08:21
    2 0 Rate This
    Father Murphy says:
    Friday, October 26, 2012 at 08:03
    0 0 Rate This
    Lord Wobbly What have you done with Stunney ?
    ~~~~~~~~~~~~~~~~~~~~~~~~~~
    I held off posting for…oooh…literally seconds… before deciding that ‘if you snooze you lose’.
    ————————-

    As long as he is not under the patio. 🙂


  47. Danish Pastry says:
    Friday, October 26, 2012 at 08:22
    “The dad-of-two [Whyte] — who is getting divorced from wife
    Kim — has been dating sexy Swedish girlfriend Izabella
    Andersson. The gorgeous 32-year-old student — who can speak four languages — was even spotted in the Ibrox directors’ box in a plunging dress at an Old Firm clash. Whyte added: “We are still together and we are very happy. “We have no wedding plans but it would be difficult as I’m still married.”

    And there’s more …

    “Dressed casually in designer jeans, shirt and blazer, he admitted:
    “I’m the least photogenic man in the world and I hate appearing on the television.””
    ~~~~~~~~~~~~~~~~~~~~~~~
    Maybe we shouldn’t expect too much from Kenny McAlpine

    http://journalisted.com/kenny-mcalpine#tab-bio

    😀


  48. torrejohnbhoy says:
    Friday, October 26, 2012 at 08:25
    1 0 Rate This

    More from The Sun:
    ———–

    His flip-flop on the D&P appointment is interesting revisionism on his part. He reckons other admins would have handed some semblance of the club back to him? And D&P should have, but didnae?

    Was he expecting a cash injection? Or can he now see that other admins would probably have been more pragmatic regarding a sale of players, assets, and so on, to get the club solvent until the final ruling on the FTT came.


  49. Lord Wobbly says:
    Friday, October 26, 2012 at 08:35

    Maybe we shouldn’t expect too much from Kenny McAlpine

    http://journalisted.com/kenny-mcalpine#tab-bio
    ———————————————————————————————————————
    Thought I’d try the “Donate” button.Here’s the info for anyone who wants to chip in!

    Media Standards Trust

    The Media Standards Trust is an independent registered charity that aims to find ways to foster the highest standards of excellence in news journalism on behalf of the public, and ensure public trust in news is nurtured.

    Make of it what you will.


  50. Straight off press.
    The Fat Lady accused of Prima Donnishness, she asks to know who are these people, she demands to know


  51. From KDS:

    BBC Gossip Column quoting Sevco “angry” that SFA forwarded the £200,000 sell on fee for Charlie Adam to oldco/creditors and not them.


  53. One of the comments on the Yahoo story:

    STEWART • 9 hours ago

    Like him or hate him you have too hand it to ally McCoist he not only played, captained and believes in Rangers and is working with a handful of players, no money and has pushed,proded coxed the team to the top of the third division albeit a hard slog for them but i for one hope that this team make it back into the SPL and to the top again.

    “he’s Proded,Coxed the team”
    I remember when all you got was half an orange 😆


  54. torrejohnbhoy on Friday, October 26, 2012 at 08:49

    Could TRFC/Sevco be getting short of cash?


  55. obonfanti88 (@obonfanti88) says:
    Thursday, October 25, 2012 at 21:00
    Rate This

    Amazing what you can find on the internet……

    http://uk.linkedin.com/in/davidgrier

    Past
    Head of Client Relations at Royal Bank of Scotland 2001-2005
    ———————————————————————————-
    Is this not around the time (2005) Murray put the club up for sale?


  57. Another U-Turn?.

    Green to stay at Ibrox till he hears Champions League anthem

    Posted on Friday, 26th October 2012 by Joe McHugh

    Champions League Celtic newsCharles Green has told the Daily Record that he’s staying at Ibrox till the Champions League anthem is blaring over the club PA.

    With storm clouds gathering on the back of Craig Whyte’s return to the spotlight and allegations flying about the conduct of Duff & Phelps Green has kept quiet for almost a full week.

    Celtic’s display in the Nou Camp has tugged at the heart strings of the Yorkshireman who is dreaming of welcoming the biggest clubs in Europe to Ibrox.

    A number of hurdles will have to be overcome with the major obstacle being UEFA’s requirement that new clubs must have three years of audited accounts before competing in their competitions.

    While the SFA were happy to ignore their own rules to give Sevco membership Green would have to wait until the 2017/18 season to play in Europe assuming they have worked their way back to winning the SPL

    “My intention was to come in to the club, get the funding in place, make sure Rangers’ future was secured and then leave,” Green told his friends at the Record.

    “That was my job but now I’m staying until I hear that Champions League anthem blaring out once again across Ibrox. That’s what the fans and the people here should be given and if that can be delivered maybe I’ll feel my job is complete.


  58. Danish Pastry says:
    Friday, October 26, 2012 at 08:39
    His flip-flop on the D&P appointment is interesting revisionism on his part. He reckons other admins would have handed some semblance of the club back to him? And D&P should have, but didnae?
    Was he expecting a cash injection? Or can he now see that other admins would probably have been more pragmatic regarding a sale of players, assets, and so on, to get the club solvent until the final ruling on the FTT came.
    ______

    On my wavelength DP – for some reason he thought a pre-pack CVA would give him back the club without the tax debt but that would have stripped working capital as well. So it comes back again to LBG and what CW had expected from them. Without doubt it would crash and burn just by paying off all the 18m to LBG and left with no line of credit. Sums don`t compute – and he wasn`t expecting other admins so that suggests a plan that was `changed`


  59. Lord Wobbly says:
    Friday, October 26, 2012 at 07:38
    7 0 i
    Rate This

    Gary Allan, the QC who sat on an SFA three-man panel which
    punished Rangers FC in May for bringing Scottish football into
    disrepute, has complained about threats made to him and his
    family in the wake of the hearing.

    Mr Allan has expressed particular dismay at Rangers manager Ally McCoist who, when the punishments were announced, publicly called for the names of the panel – which were supposed to remain anonymous – to be made known.

    “I was told I should take mail into the smallest secure room with the fewest windows and have the family somewhere else in the house whilst I opened the mail.”

    ========================================

    Absolutely disgusting.

    Mr McCoist really should be taken to task over this, properly.

    He put other people’s safety, and even lives, at risk in order to rabble rouse the supporters of a football club. He played to their baser instincts and thought nothing of the safety of others.

    The fact that his club had actually voted for the system including anonymity makes it if anything worse. He can’t even claim “we didnt agree to that part”.

    Shameful, shameful behaviour from a man who has lost any remaining semblance of cheeky chirpy chappie. A thoroughly nasty and vindictive individual.


  60. Long Time Lurker says:
    Friday, October 26, 2012 at 09:04

    torrejohnbhoy on Friday, October 26, 2012 at 08:49

    Could TRFC/Sevco be getting short of cash?
    ———————————————————————————————————————
    My untrained brain thought that CG could probably get by until the end of November.Reason being any STs bought over 4 months would help cash flow.We don’t know how many were paid up front or over 4 mnths.
    The ST money though,will be by far the biggest source of income over the season.With the moving of the accounting period CG could probably get another cash injection in this fiscal year from next seasons STs.That would only stack up probems with cash next season(if the cash appears in this years figures,next years will show no income).
    This extra cash would not be available til around May/June 2013.This leaves a gap from November of about 6mnths.2 home games a month probably brings in circa 200k.Over 6 months around £1.2m.Even if CGs claim that players wages are now down to £6m p/a(we disagree of course)He’s only got around 2months players salaries income.Nothing to cover ALL other costs,including around £2m in players salaries.
    Unless his “investors” are willing to finance him over these 6 months,i think he’s in trouble.


  61. ‘WGreen to stay at Ibrox till he hears Champions League anthem’
    …………………………………………………..

    well he hasn’t too long to wait. Celtic turn up the tannoy at the Barca game, job done, Green departs Ibrox, or will he last that long????


  62. torrejohnbhoy says:
    Friday, October 26, 2012 at 09:26
    1 0 i
    Rate This

    Long Time Lurker says:
    Friday, October 26, 2012 at 09:04

    torrejohnbhoy on Friday, October 26, 2012 at 08:49

    Could TRFC/Sevco be getting short of cash?
    ———————————————————————————————————————
    My untrained brain thought that CG could probably get by until the end of November.Reason being any STs bought over 4 months would help cash flow.We don’t know how many were paid up front or over 4 mnths.
    The ST money though,will be by far the biggest source of income over the season.With the moving of the accounting period CG could probably get another cash injection in this fiscal year from next seasons STs.That would only stack up probems with cash next season(if the cash appears in this years figures,next years will show no income).
    This extra cash would not be available til around May/June 2013.This leaves a gap from November of about 6mnths.2 home games a month probably brings in circa 200k.Over 6 months around £1.2m.Even if CGs claim that players wages are now down to £6m p/a(we disagree of course)He’s only got around 2months players salaries income.Nothing to cover ALL other costs,including around £2m in players salaries.
    Unless his “investors” are willing to finance him over these 6 months,i think he’s in trouble.

    ===================================================================
    Maybe Ticketus could help with cash flow until he gets into the Champions League?


  63. I note Green doesn’t actually talk about qualifying for Europe. Does the Ibrox DJ do requests? Rangers fans should ask for this to be played to get rid of him. Unless its all bluster (imagine that).
    It’s not uncommon to hear the CL music immediately before a poorly attended mid-week, mid-winter match at Broadwood. Maybe Charles does irony, too.


  64. torrejohnbhoy says:

    From KDS:

    BBC Gossip Column quoting Sevco “angry” that SFA forwarded the £200,000 sell on fee for Charlie Adam to oldco/creditors and not them

    =========================

    Quite right they are the same/a different * company so deserve/don’t deserve* that payment/punishment*.

    *delete to suit, depending on circumstances.


  65. I haven’t laughed at a newspaper so regularly since Viz! The Daily Record is a disgrace of a national newspaper. So today’s “Green deciding to hang around” absolutely definitely on his own terms is nothing to do with his share launch failing and there being no money to run off with?

    Plans A, B, C and D have all failed so it seems to me he has been forced to dream up Plan E. Good luck with that Chuck!


  66. From Paul McConvilles list of investors we know that the following people have the following shares.

    Imram Ahmad Rangers (but just recently left Zeus) 2.2m shares
    Richard Huges- Zeus – 2.2m
    Brian Stockbridge – Zeus (and Rangers Finace Director) sub 50k
    Charles Green – 0 but as the man brought in by Zeus he could be in line for 5m shares if float is successful.

    Combined that is a fair share holding within the club when compared to others.

    Remind me again who, according to Mr Charles, did D&P call within weeks of getting their feet under the desk at Ibrox?

    Still smells fishy to me with the spivs doing switcheroos here there and everywhere.


  67. “That was my job but now I’m staying until I hear that Champions League anthem blaring out once again across Ibrox. That’s what the fans and the people here should be given and if that can be delivered maybe I’ll feel my job is complete.

    ——————————————————————————

    how do you get in the CL chuckie?

    well, you can only qualify by finishing 1st or 2nd in the SPL but before that you have to be eligible to enter, so that means 3 years AUDITED accounts

    I reckon you won’t have audited accounts this april, so, it’ll be 4 years before you have 3 years accounts available and of course, you will have to get into the SPL (even though you said you wont) and then finish in the top 2. So, I reckon that if 5 years before you’ll be close to the CL anthem – never mind the fact you said you won’t be going back into the SPL

    good luck with that one chuckles

    is that another 180 turn on earlier statements – add it to the list!


  69. Very, very powerful video interview with Gary Allan on the AT blog. Really does put McCoist’s disgusting behaviour into context.

    Seems obvious that the police were concerned about a lot more than the odd casual nutter.


  70. Channel 4 is to broadcast an AT piece this evening on threats and intimidation from the Sevconians to members of the great and the good, as well as the ordinary man in the street who just happened to look a certain way- if you live in Glasgow and you are in the wrong place at the wrong time you will know what I mean.

    Yet again it has taken an English broadcaster to touch on this subject which in our country never goes away.As we approach 2014 with notions of self determination one thing ,politics and religion aside,is glaringly obvious ,Our institutions are under close scrutiny from the outside.Surely the SFA and SPL must now recognise that they have to tackle any cheating in any form, and also adopt a fierce and resolute zero tolerance campaign with regard to racism and sectarianism.I note the Courts are now adopting some rigorous sentencing towards sectarianism.

    As we progress in this saga I think Messrs Regan and Doncaster must now fully recognise that a strong and resolute approach is needed.If they don’t then as administrators of the national game, they will have let themselves and the people of our small country down.


  71. torrejohnbhoy says:
    Friday, October 26, 2012 at 09:11
    0 0 i Rate This

    A number of hurdles will have to be overcome with the major obstacle being UEFA’s requirement that new clubs must have three years of audited accounts before competing in their competitions.

    ==============================

    I think that is really unfair.

    Charles is a sprinter, not a hurdler.

    Oh and “New Clubs” you say. Is that like a club which is a new one.


  72. Not the Huddle

    There is a much quicker way for Rangers/Sevco to get back into the Champions League. They dont have to wait until they can provide three years accounts. They just get Uefa to do what the SFA did: Change or ignore the rules.

    Good luck to them with that though.


  74. doontheslope says:
    Friday, October 26, 2012 at 10:17
    0 0 Rate This
    Not the Huddle

    There is a much quicker way for Rangers/Sevco to get back into the Champions League. They dont have to wait until they can provide three years accounts. They just get Uefa to do what the SFA did: Change or ignore the rules.

    Good luck to them with that though.

    ———————————————————-

    so what you are saying is…..There is NOT a much quicker way for Rangers/Sevco to get back into the Champions League.

    🙂


  75. Anyone gone to see Mr W Hill on the odds of Mark Daly getting another five minute slot on tonight’s Reporting Scotland?

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