UEFA Club Licensing. – To Comply or not to Comply ?
On 16 April 2018 The UEFA Club Financial Control Body (CFCB) adjudicatory chamber took decisions in the cases of four clubs that had been referred to it by the CFCB chief investigator, concerning the non-fulfilment of the club licensing criteria defined in the UEFA Club Licensing and Financial Fair Play Regulations.
Such criteria must be complied with by the clubs in order to be granted the licence required to enter the UEFA club competitions.
The cases of two clubs::
Olympique des Alpes SA (Sion Switzerland )
and
FC Irtysh (Kazakhstan)
are of particular interest to those following the events under which the SFA awarded a UEFA License to Rangers FC in 2011 currently under investigation by the SFA Compliance Officer because
- The case documentation tell us how UEFA wish national associations to apply UEFA FFP rules
- The cases tell us what might have happened to Rangers FC in 2012 had they not gone into liquidation and as a consequence avoided the same type of sanctions that UEFA applied to Sion and Irtysh.
FC Sion (Olympique des Alpes SA)
Here we are told how the Swiss FL and then the UEFA CFCB acted in respect of FC Sion in 2017 where a misleading statement was made in the Sion UEFA licensing application.
Full details can be read at
but this is a summary.
In April 2017 the Swiss FL (SFL) granted a licence to Sion FC but indicated that a Disciplinary case was pending.
In July 2017 the CFCB, as part of their licence auditing programme, carried out a compliance audit on 3 clubs to determine if licences had been properly awarded. Sion was one of those clubs.
The subsequent audit by Deloitte LLP discovered Sion had an overdue payable on a player, amounting to €950,000, owed to another football club (FC Sochaux ) at 31st March 2017 as a result of a transfer undertaken by Sion before 31st December 2016, although the €950,000 was paid in early June 2017.
Deloitte produced a draft report of their findings that was passed to SFL and Sion for comment on factual accuracy and comment on the findings. Sion responded quickly enabling Deloitte to present a final report to the CFCB Investigation Unit. In response to the Deloitte final report Sion stated:
“il apparaît aujourd’hui qu’il existait bel et bien un engagement impayé découlant d’une activité de transfert. Ce point est admis” translated as
“it now appears that there was indeed an outstanding commitment arising from transfer activity. This is admitted”
What emerged as the investigation proceeded was that the Swiss FL Licensing Committee, after granting the license in April and as a result of a Sochaux complaint of non-payment to FIFA, had reason to refer Sion’s application to their Disciplinary Commission in May 2017 with regard to the submission of potentially misleading information by FC Sion to the SFL on 7th April 2017 as part of its licensing documentation.
Sion had declared
“Written confirmation: no overdue payables arising from transfer activities”, signed by the Club’s president, stating that as at 31 March 2017 there were no overdue payables towards other football clubs. In particular, the Club indicated that the case between FC Sion and FC Sochaux regarding the transfer of the player Ishmael Yartey was still under dispute.
The SFL Disciplinary Commission came to the conclusion that FC Sion had no intention to mislead the SFL, but indeed submitted some incorrect licensing documentation; the SFL Disciplinary Commission further confirmed that the total amount of €950,000 had been paid by the Club to FC Sochaux on 7 June 2017. Because of the inaccurate information submitted, the SFL Disciplinary Commission decided to impose a fine of CHF 8,000 on the Club.
Whilst this satisfied the SFL Disciplinary process the CFCB deemed it not enough to justify the granting of the licence as UEFA intended their FFP rules to be applied.
Sion provided the CFCB with a number of reasons on the basis of which no sanction should be imposed. In particular, the Club admitted that there was an overdue payable as at 31 March 2017, but stated that the mistake in the document dated 7 April 2017 was the result of a misinterpretation by the club’s responsible person for dealing with the licence (the “Club’s licence manager”), who is not a lawyer. The Club affirmed that it never had the intention to conceal the information and had provisioned the amount due for payment and that, in any case, it has already been sanctioned by the SFL for providing the wrong information.
The CFCB Investigation Unit accepted that the Sion application, although inaccurate, was a one off misrepresentation and not a forgery, (as in intended to deceive ) but that nevertheless an overdue payable did exist at 31st March and a licence should not have been granted.
Based on their findings, the CFCB Chief Investigator decided to refer the case to the CFCB Adjudicatory Chamber and suggested a disciplinary measure to be imposed on FC Sion by the CFCB Adjudicatory Chamber, such measure consisting of a fine of €235,000, corresponding to the UEFA Revenues the Club gained by participating in the 2017/2018 UEFA Europa League.
The CFCB Investigatory Chamber submitted that it was appropriate to impose a fine corresponding to all the UEFA revenues the Club gained by participating in the competition considering the fact that FC Sion should not have been admitted to the competition for failing to meet one of its admission criteria.
The Adjudicatory Chambers took all the circumstances (see paras 91 to 120 at http://tiny.cc/i8sxsy ) into consideration and reached the following key decisions.
- FC Sion failed to satisfy the requirements of Article 49(1) of the CL&FFP Regulations and it obtained the licence issued by the SFL not in accordance with the CL&FFP Regulations.
- FC Sion breached Articles 13(1) and 43(1)(i) of the CL&FFP Regulations. (Documents complete and correct)
- To exclude FC Sion from participating in the next UEFA club competition for which it would otherwise qualify in the next two (2) seasons (i.e. the 2018/19 and 2019/20).
- To impose a fine of two hundred and thirty five thousand Euros (€235,000) on FC Sion.
- FC Sion is to pay three thousand Euros (€3,000) towards the costs of these proceedings.
Comment in respect of the award of a UEFA Licence in 2011 to Rangers FC.
It is now public knowledge that an actual liability of tax due before 31stDecember 2010 towards HMRC, was admitted by Rangers FC before 31st March 2011.
This liability was described as “potential” in Rangers Interim accounts audited by Grant Thornton.
“Note 1: The exceptional item reflects a provision for a potential tax liability in relation to a Discounted Option Scheme associated with player contributions between 1999 and 2003. A provision for interest of £0.9m has also been included within the interest charge.”
The English Oxford Dictionary definition of potential is:
Having or showing the capacity to develop into something in the future.
Which was not true as the liability had already been “developed” so could not be potential.
This was repeated by Chairman Alistair Johnson in his covering Interim Accounts statement
“The exceptional item reflects a provision for a potential tax liability in relation to a Discounted Option Scheme associated with player contributions between 1999 and 2003. “ where he also added
“Discussions are continuing with HMRC to establish a resolution to the assessments raised.”
This could be taken as disputing the liability but In fact the resolution to the assessments raised would have been payment of the actual liability, something that never happened.
In the Sion case it was accepted the misleading statement was a one off misrepresentation, but at the monitoring stages at June 2011 in Ranger’s case the status of the liability continued to be misrepresented and in September the continuing discussions reason was repeated, along with a claim of an instalment paid whose veracity is highly questionable.
The Swiss FL Licensing Committee did at least refer the case to their Disciplinary Committee when they realised a misleading statement might have been made. The SFA however in August 2011, when Sherriff Officers called at Ibrox for payment of the overdue tax , did no such thing and pulled up the drawbridge for six years, one that the Compliance Officer is now finally charged with lowering.
The case of FC Irtysh of Kazakhstan is set out in full at http://tiny.cc/y9sxsy and is a bit more straightforward but is nevertheless useful to compare with events in 2011 in Scotland.
Unlike Rangers FC , FC Irtysh properly disclosed that they had an overdue payable to the Kazakhstan tax authorities at the monitoring point at 30th June 2017. This caused the CFCB Investigatory Unit to seek further information with regard to the position at 31st March
It transpired that Irtysh had declared an overdue payable at 31st March but cited their financial position (awaiting sponsor money) as a reason for non payment to the Kazakhstan FA who accepted it and granted the licence. The outstanding tax was paid in September 2107.
The outcome of the CFCB Investigation was a case put to the CFCB Adjudicatory Chamber who agreed with the CFCB Investigation Unit that a licence should not have been granted and recommended that Irtysh be fined the equivalent of the UEFA prize money, (that had been withheld in any case whilst CFCB investigated.)
The CFCB Adjudicatory Chamber however decided that a fine was not sufficient in sporting deterrent terms and ruled that:
- FC Irtysh failed to satisfy the requirements of Article 50bis(1) of the CL&FFP Regulations and it obtained the licence issued by the FFK not in accordance with the CL&FFP Regulations.
- To withhold four hundred and forty thousand Euros (€440,000) corresponding to the UEFA revenues FC Irtysh gained by participating in the 2017/2018 UEFA Europa League.
- To exclude FC Irtysh from participating in the next UEFA club competition for which it would otherwise qualify in the next three (3) seasons (i.e. the 2018/19, 2019/20 and 2020/21 seasons). This sanction is deferred for a probationary period of (3) three years. This exclusion must be enforced in case the Club participates again in a UEFA club competition having not fulfilled the licence criteria required to obtain the UEFA licence in accordance with the CL&FFP Regulations.
- FC Irtysh is to pay three thousand Euros (€3,000) towards the costs of these proceedings. “
The deferral was because unlike Rangers FC, FC Irtysh had properly disclosed to the licensor the correct & accurate financial information required, so the exclusion was deferred for a probationary period of (3) years.
Comment in respect of the award of a UEFA Licence in 2011 to Rangers FC.
From the foregoing it could be deduced that had Rangers FC qualified for the Champions League (or European League) and not gone bust as a result and so not entered liquidation BUT it became public knowledge by 2012 that a licence had been wrongly and possibly fraudulently granted then
- Rangers would have been fined the equivalent of their earnings from their participation in the UEFA competitions in 2011
- At least a two year ban from UEFA Competitions would have been imposed, but more likely three in view of repeated incorrect statements.
- The consequences of both would have been as damaging for Rangers survival as the real life consequences of losing to Malmo and Maribor in the qualifying rounds of the Champions and European Leagues.
Karma eh!
Interestingly in the UEFA COMPLIANCE AND INVESTIGATION ACTIVITY REPORT 2015 – 2017 , the CFCB investigatory chamber recommended that both the Kazakhstan FA and Swiss FA as licensors
“pay particular attention to the adequate disclosure of the outstanding amounts payable towards other football clubs, in respect of employees and towards social/tax authorities, which must be disclosed separately;
Would the same recommendation apply to the Scottish FA with regard to their performance in 2011 and will the SFA responses thereafter to shareholders in a member club be examined for compliance with best governance practice by the SFA Compliance Officer investigating the processing of the UEFA Licence in 2011?
This would be a welcome step in fully restoring trust in the SFA.
Not sure what the two resignations from Rangers board mean, but note that both are acolytes of King. I suspect it has to do with the beginning of the process of removing King himself.
I would be astonished if Gerrard comes to Rangers, as this was a giant King squirrel. I would be flabbergasted if King remains, and an insolvency event within the next month to six weeks is avoided.
Only by collapsing the present club structure in its entirety can Rangers in any form survive. The present incumbents will have to say adios to the millions already “invested” at some point soon, or face the prospect of a doubling, then a quadrupling of their losses with nothing but a loss-making, dysfunctional, deluded, cash-guzzling monster to show for it.
Expect to see an austerity version next season, with no European football, its big earners gone and a Jack Ross or Robbie Neilson managing a squad utterly unrecognizable from today’s.
That Rangers may eventually win their first ever major trophy, and eventually beat Celtic in a league fixture. They may even win a league title, but they will never be one of a Top Two in Scottish football. Celtic will structurally dominate Scottish football going forward. Rangers will be closer, just, to Celtic than Hearts, Hibs and Aberdeen, but far closer to these clubs in terms of budget and performance than Celtic. .
Celtic will occasionally lose titles in seasons where their form dips, or huge transitions occur, and where this is matched by a surprising overperformance elsewhere. This could have happened this season for example had Aberdeen or Rangers overperformed, in the manner of Kilmarnock, this season, but a single title every few years will not change the fundamental reality of the game here.
Rangers to survive long term in any form will have to lose its delusional sense of its own position. It is trapped, by pretending to be the old club which died, into its own death spiral. Only by taking up the mindset of a new club to match the reality of this, can it survive long term in any form.
Being Rangers, then, is killing Rangers now, just as it killed the original Rangers.
Just briefly to say that in response to my emailed enquiry to Lord Doherty’s clerk early this morning, I received a reply an hour ago ( probably during his lunch-break, decent fellow!).
It appears that a motion was entered onto the computer system in that specific petition, eg the interdict petition, and this is why it was published on the rolls of court.
But, when the Clerk had a look at it today, he discovered that this was a mistake : it was a motion in another matter which had been entered using the incorrect court reference number.
I take from that that the TOP’s petition has still to be dealt with? ( although I’ve asked whether that is the case)
iceman63May 2, 2018 at 14:02
‘…I would be flabbergasted if King remains, and an insolvency event within the next month to six weeks is avoided. .’
______________________________
There’s a sort of standing warning to company directors that they must not take such a gamble on better times to come as actually to end up trading while insolvent.
It would seem to me that unless Close Bros or any of the directors or some sugar daddy, have guaranteed that ,as and when money is needed ,they will spit out a loan, TRFC Ltd as of now must be on the brink of collapse.
Should they in their own self-interest act responsibly and call in the Administrators now?
Passed Edmonston Dr car park today. Lots of work being carried out, relining parking areas, etc. Can’ be skint if they can afford this
Grecian Urn @ 14:52
Were you able to notice if the deck chairs were being repositioned, too … ?
RANGERS International Football Club PLC (RIFC) notify the resignation of two directors, Mr Paul Murray and Mr Barry Scott.
Paul has been a director since March 2015 and played an important role at that time in helping oust the previous Board and restore the Club to the hands of those who have its best interests at heart.
Paul has served with distinction as a director since that time and all at Rangers are very grateful for his efforts. We look forward to welcoming him again as a supporter.
‘Dilly Dilly’
Barry joined the Board more recently and his enthusiasm and drive were welcome. The Board knows it will continue to enjoy his support and appreciates the commitment he has shown to the Club.
‘Dilly Dilly’
Now Mr King (and fellow sycophants) please follow Sir Brad and he is going to give you a private tour of the Pit of Misery.
‘Pit of Misery – Dilly Dilly’
Maybe just tidying up ahead of all the media coverage at Ibrox of the new manager and new investors!
In all seriousness, though, if Paul Murray and Barry Scott are King’s men and as suggested they’re being cleared out ahead of King himself being ‘resigned’, how does it make sense for King being the rumoured lead voice for bringing in Gerrard?
Is there a chance that this is King’s last attempt to convince shareholders that they shouldn’t sell to him? i.e. ‘You’d be mad to take my 20p – imagine what they’ll be worth with Stevie G and loads of money for the team’. Bear rumours are that King has gone against the rest of the board in pursuing Gerrard. Could knowing it’s all a façade lead to his in-the-know mates PM and BS walking away before the sh*t hits?
On the Bear sites, they’re now convinced that Gerrard is coming (even those who don’t want another inexperienced manager) and of course he would only be coming if he has been given guarantees about investment to allow him to compete, so that must be happening too. Another Bear rumour is that this is down to Alastair Johnston who has American investors willing to plough in but only if Stevie G takes up the reins. I’m not sure why DCK would be the lead in that case. Is AJ perceived to be pro-DCK or anti-?
So much flip-flopping gong on, it’s hard to make anything out.
GRECIAN URNMAY 2, 2018 at 14:52
Was that not a requirement of the Close Brothers’ loan , that the asset be brought up to standard ?
NAWLITE
What do you call a Frenchman wearing sandals ?
Philippe Floppe .
FINLOCH
MAY 2, 2018 at 11:42
A few years back I got a phone call from a headhunter friend about a particular job from a new client…
=========================
FINLOCH, you are more subtle than JIMBO: a lengthy preamble just to slot in a video at the end of a Roger Whittaker song ? 😉
Anyways, agreed everyone must do their own due diligence: you don’t have to be a highly paid footy manager either.
A standard question I always pose at interviews: what is the staff turnover rate ?
Even before looking at the financials, an observer can see that there has been a lot of staff turnover at Ibrox.
– Very high team manager turnover
– Current turnover / uncertainty in the Boardroom
– 2 most senior players – including captain – currently suspended / both exiting?
That’s as far as I would need to go with my own preparation.
[I did actually have a Group FD lie to my face about the turnover rate: on day 1 of joining the company I found out there was actually a 50% p.a. turnover rate! Needless to say it was also a ‘nightmare’ place to be and I swiftly moved on. My mistake, which won’t happen again. The working atmosphere at Ibrox / Murray Park must be truly dreadful ?]
Paddy, I’m sure you’re correct, there was something in the Close Bros. loan that said the securitised assets had to be maintained. The car park was one.
Long time lurker. Very occasional poster.
Like most of you I’m struggling to think why Gerard could possibly be interested in Rangers. It seems crazy.
But what if Rangers much speculated big investor is actually Liverpool Football Club, with Rangers becoming some kind of feeder club to Liverpool.
Steven Gerrard is effectively loaned to Rangers to prove himself and gets the pick of the Academy / B Team, either on loan or at much reduced transfer fees with favourable buy-back rates if they are successful and Liverpool want them back.
Liverpool get some of their top prospects playing in a competitive league, coached in the Liverpool way with Rangers paying all of or most of their wages and Rangers get completely restructured by a team of pros who know exactly what they’re doing as well as access to players they otherwise couldn’t afford.
When the time comes SG is welcomed back to Anfield as an experienced operator.
Most likely complete pie in the sky but I can’t think of any other reason why Gerrard would be interested in Rangers at all. LFC wouldn’t have to take ownership or even part ownership of Rangers. Just provide enough cash and players to make the thing work.
It’s going to be an interesting week ahead. Plenty to talk about. The Boardroom. Steven Gerrard or someone else. Share offers. Suspended players. Not to mention on the pitch stuff (must be some atmosphere in the squad just now, poor wee souls!).
James Forrest gets a bit of stick for always going on about TRFC. But really there is only one show in town.
CO should come out and take the heat off them. Oops that wouldn’t work either!
JIMBOMAY 2, 2018 at 16:04
Sorry to disagree , but we have a massive game on Friday , as do Ross County , and there are a few other tasty fixtures with potential repercussions for the losers over the weekend . The new club’s trials and tribulations may be essential viewing in the same way a soap or sitcom can be ,but there’s football to be played and a lot of people’s futures to be decided .
iceman63May 2, 2018 at 14:02
That bad?
Kid GlovesMay 2, 2018 at 16:02″Most likely complete pie in the sky but I can’t think of any other reason why Gerrard would be interested in Rangers at all. LFC wouldn’t have to take ownership or even part ownership of Rangers. Just provide enough cash and players to make the thing work.”
Yep pie in the sky. SG reason has nothing to do with the Ibrox team, SG is all about SG and he is aware that if you want exposure what better way than to have your named linked to the SMSM hacks favourites. Were else can you get exposure like this for free without having to pay an image agent.
Remember Joey Barton and Scott brown not in my league, the SMSM were all over Joey, but alas like others before him he could not deliver and SB did what he does best let his football do the talking and chased wee Joey back down the road with his coffee machine.
Wee birdys saying Scott getting out from under a cold shoulder and Murray and rest of Board not prepared to pony up £25M to meet SG’s transfer kitty.
Who knows? Only the Shadow knows.
But Auldheid, Scott is presumably still owed £5m or £6m, isn’t he? Does that give King/RIFC even more problems?
I have no idea Auldheid. Just seems like a bottomless money pit, and the culture is such that the losses can’t be stemmed. The TOP pursuit of Dave King may push it over the edge, or be the pretext for three bears to bail out while the going is bad. Then again I never understood why they got involved in the first place.
So things are hotting up down govan way .
With Murray and Scott joining Murty out the door ,what have we all to make of it ?
Well my take is ….Murty
After the Hampden humiliation King held off from sacking him as he fully expected another drubbing at CP. So JN is pitched in after the 4-0 game but if it was indeed a drubbing Murty gets the blame (could this explain the rumours of murty not being allowed in the dressing room at CP ) .So in order for JN not to be seen as another dead duck Murty had to be kept on for another 2 weeks and then thrown under the bus and JN get’s the last 3 games .
Re all the moonbeams of major new investment .
King knowing full well he is never going to comply with the TOP ruling , knows that many in the blue room will be getting out of dodge before they are dragged into the mess of his making .So start the major investment rumour to cover the mass exodus .
If major investment was the reason for directors quitting why would they not stay in position till the new investor had come in .
Gerrard ……
IMO King has to be removed for Sevco 2012 to continue (if they can ) So as a previous poster has said why is DK the front face of the Gerrard story ,How can he promise Gerrard anything . It makes no sense .Are we to believe there is MAJOR investment coming into Ibrokes and KING is the man who is bringing it in and that any serious wealthy businessman would deal with this guy .REALLY is that what the SMSM and the sevconions expect us to believe .
Like almost everything that has come out of the new club since 2012 .It is wise not to take anything said at face value .
NAWLITEMAY 2, 2018 at 16:57
I don’t know exactly how much Scott is owed but was thinking the same about if he is due the loan to be paid back on demand .
I seem to recall all the loans were carried over after their initial repayment dates and I assume this would only be because the loanees agreed to do so .
IIRC though , many thought Scott was just a front for DK ,who knows ? .If that is the case then I would not expect any calling in of his loan any time soon
If Barry Scott is unhappy about the direction the club is going, he won’t be wanting shares in exchange for his money……Just a passing thought.
Re Gerrard
He announced on BT Sports the other night that he was going to have further talks with Rangers re the job – who the hell will he & his advisors be talking to ? Presume Robertson , Dickson & Park jnr with a conference call to SA at some stage ?
The whole thing is insane & I think unravelling – Gerrard would be off his head given what has been going on at Ibrox in the past 48 hours (Murty , Murray & Scott) – unless there is some grand plan in the background involving new investment (& Gerrard) in the offing . Nuts !
GRECIAN URNMAY 2, 2018 at 14:52
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Passed Edmonston Dr car park today. Lots of work being carried out, relining parking areas, etc. Can’ be skint if they can afford this
******
The famous car park and Edmiston House are in hock to Clos Bros.
I am open, as usual to correction, but my understanding is that one of the conditions of the loan is that the properties have to be maintained in a serviceable condition.
SSB on now Mark Guiddi i believe, he has made the claim that Sean Dyche was on the radar and now they have moved to SG. This nonesense has to stop and if sevconians do not do their homework they are walking into the abysiss.
So when was he on the radar
was it after this
McInnes knows it might have been his only chance to manage his boyhood club but he couldn’t turn his back on Aberdeen.
ByScott McDermott06:00, 10 DEC 2017Updated11:58, 10 DEC 2017
and was it before January 2018
Mark Critchley Northern Football Correspondent@mjcritchleyTuesday 23 January 2018 17:32 GMT0 commentsSean Dyche has signed a new four-and-a-half year contract with Burnley, extending his commitment to the club until 2022.
The 46-year-old, who was linked with vacancies at Everton and Leicester City earlier in the season, is set to see his weekly salary rise to approximately £70,000.
C’mon gies piece with this nonesense
Sorry for repeating what others had said in reply to Grecian Urn.
Slow reader.
BIGBOAB1916MAY 2, 2018 at 18:17
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I listened to 20 minutes of that nonsense while in the bath then switched it off. “Investment, investment, investment, major investment, massive investment, huge investment.” So huge that they are trying to get an untried under 18’s coach to take over. Oh…and Scotland ‘needs’ a really strong Rangers.
upthehoopsMay 2, 2018 at 18:26
BIGBOAB1916MAY 2, 2018 at 18:17
=========================
I listened to 20 minutes of that nonsense while in the bath then switched it off. “Investment, investment, investment, major investment, massive investment, huge investment.” So huge that they are trying to get an untried under 18’s coach to take over. Oh…and Scotland ‘needs’ a really strong Rangers.
Aye exactly i went to the other side sportsound and kenny mac even worse they start off with we knew all the candidates and McInnes knocks them back and now we have SG box office. No mention of Sean Dyche, pure nonesense and made up nonesense.
Only interesting point is sevco fans are giving the panel Rangers Haters emails, deluded nuggets the media are the reason they are allowed to pretend they are rangers.
NAWLITEMAY 2, 2018 at 15:28
Is AJ perceived to be pro-DCK or anti-?
KID GLOVESMAY 2, 2018 at 16:02
But what if Rangers much speculated big investor is actually Liverpool Football Club, with Rangers becoming some kind of feeder club to Liverpool.
——-
Mike Ashley has already tried that one.remember all the Newcastle reserve loanies
BIGBOAB1916MAY 2, 2018 at 18:54
Aye exactly i went to the other side sportsound and kenny mac even worse they start off with we knew all the candidates and McInnes knocks them back and now we have SG box office. No mention of Sean Dyche, pure nonesense and made up nonesense.
======================
Indeed, after speculating about how many trillions Gerrard will have to spend, McIntyre had the gall to state Rodgers will have a ‘limited budget’ to replace Rogic should he leave. In fact, just before they went to the interview with the Clyde Chairman a stranger might believe it’s all currently doom and gloom at Celtic Park. What do they get out of this? Constantly bigging up Rangers and Gerrard will not make money magically appear, and will not make them a well run club. Constantly being negative about Celtic will not empty Celtic’s bank account and will not make them a basket case of a club. As I said, what do they think they are achieving?
Hats off to The Tribute Act on Twitter.
@TheTributeAct
There simply isn’t a happy turnaround story for RIFC. You can’t run a successful football club from Ibrox at a profit. Lawrence Group, Murray, Whyte, Green, Ashley and now King have all failed to do so.
Losses of £225m since 1988 alone. That doesn’t include £97m in unpaid tax.
Barcabhoy – pretty much agree with everything you said in earlier post re investment and how it needs to happen. Only a few smallish points i disagree with but on balance im in agreement that people have their fingers in their ears and thinking its all going to be ok.
Not where im standing from, it isnt,
Now thats not something i bet you thought you would read from me. 🙂
If there’s massive investment coming why not spend some of it in attracting a decent level experienced coach as the first priority.
Then let him decide what to do with the rest.
What could have been .
https://www.theguardian.com/football/2017/dec/06/football-most-unlikely-half-and-half-scarves-the-knowledge#img-1
Lineker and Lampard rather put their collective feet in it tonight on BT sports. They were discussing what impact,if any, the absence of Klopps assistant, Buvac, would have on tonight’s game. They then put up on the screen the latest odds for the Aresenal job and Buvac was shown to be the current favourite with the bookies.
Lineker and Lampard seemed to be rather bemused that someone with no experience as a number 1 could be in the running. Stevie G, who was sitting next to Lineker, maintained a staunch and dignified jib!
I’ve been trying to get my head round why Murray and Scott resigned and the timing of it.
Murray and Scott are RRM. Both were ostensibly viewed as being in the King camp. Murray was King’s nominee to the Board in the Louden Tavern Putsch. Scott I believe was more interested in looking after his “investment” (aka loans). So what could have gone wrong.
• A simple fallout between King and the pair as individuals
• Disagreement on the Murty sacking
• Disagreement on the pursuit of Gerrard
• Disagreement about the TOP situation
• Scott wants his money back rather than converted to shares
• Disagreement on financial planning and future funding requirements
• The proposed source(s) of new funding
• An impending insolvency
• Personal reasons
I’m sure that there are more possibilities.
The timing suggest that it is probably related to Murty, Gerrard, or TOP, but who knows. Take your pick.
HIGHLANDERMAY 2, 2018 at 10:27
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I’ve received an email reply to my further BBC complaint about Reporting Scotland’s reference to ‘Rangers’ holding company going into liquidation’ and have been asked to provide further evidence of judges/lawyers and other official bodies dismissing the concept of an immortal, metaphysical club.
——————-
Lord Hodge approves liquidation of former Rangers FC.
A judge has approved a motion for the former Rangers Football Club to be handed over to liquidators.
————————
Interesting UPDATE: An appeal to the BBC Trust about the terminology used in this story was partially upheld on 18 June 2013.
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After reading all that i believe now that the years have passed there is further evidence ie.charles Green lawyer for a start
A decent wee football resource .
http://www.football-observatory.com/?lang=en
CLUSTER ONEMAY 2, 2018 at 20:46
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HIGHLANDERMAY 2, 2018 at 10:27
————–
Or just show them this
An attempt to create an amusing post by paraphrasing a tweet (about Brexit) to show what might have happened at Ibrox this morning between, on one end of a Skype call, Murray and Scott, and on the other, King.
M&S – ‘No, we’re looking at an iceberg while you’re trying to find a high profile captain for the Tintanic. A dignified cause, but right now, F..KING ICEBERG!‘
King probably got shot of them as he doesn’t want to share the 429 million that a chinese investor is using to buy sevco tomorrow rofl.
EASYJAMBOMAY 2, 2018 at 20:38
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I’ve been trying to get my head round why Murray and Scott resigned and the timing of it.
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The in’s and out’s at the begining of king
easyJamboMay 2, 2018 at 20:38
‘..why Murray and Scott resigned and the timing of it.’
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One is tempted to say ‘all of the above!, eJ.
I have sometimes wondered what Murray brought to the party, other than a show of loyalty to King. He would not appear to have many millions to dip into if and when asked for a sizeable loan.
And Scott was only one of the six who between them loaned the £6.5m, possibly on an eeksy-peetsy basis: and maybe he’s seen as being unable to pony up a further meaningful contribution if required.
So, just useless baggage to be ditched by Johnston, Bennet , and the Parks before they get shot of King . ( I don’t suppose Blair, the Secretary has a vote on the Board?)
But I think I would plump for there to have been apoplectic rage when the Board learned of King’s visit to Liverpool.
I suspect he did that without consultation of any kind, and certainly without the backing of the Board, thinking to bring off a coup de main that would swell season book numbers!
And perhaps thinking that the others would attend to little matters like Gerrard’s salary and player budget, you know, the petty things that lesser beings have to attend to.
They ( the non-king faction) possibly suspected, or knew, that Murray and/or Scott might have known that King had this idea, and have kicked their ar..s for not telling the rest of them in time to stop the nonsense.
But who knows?
Imagine if you will, you are a high profile, very successful ex-footballer about to embark on your journey to be an equally successful manager/coach, and you are about to go for further talks over a manager’s post at a high profile football club. In this case, there are no known financial or legal problems at that club, and you have no reason to believe there are any.
Then, the day before these further talks, two directors resign, and no reasons for their resignations are given.
Does anybody think that that would not raise alarm bells in your head and give serious pause for thought?
You know what it’s like after watching 2 hours of Agatha Christie. It sharpens the mind.
So I hereby foretell Steven Gerrard will not happen.
For all the obvious reasons it would be crazy. Why start a managerial career at a basket case?
Some people have put forward that it is all about ‘Brand’ Gerrard. His name worldwide is bigger and potentially much more lucrative than ‘Brand’ Rangers. So the Red Bull will follow him wherever he goes. Investing millions in Ibrox for their treasured superstar.
Really?
What if Gerrard fails miserably?
Ah! Then we fall back on the old ‘There’s no such thing as BAD Publicity’ argument. Except we all know that rabbit is only pulled out of the hat in the worst of circumstances, can only be used once or twice and can be seen for what it is.
If it’s all about ‘Brand’ Gerrard, I’m sure Steven could just look over his shoulder at David Beckham. After Shaves, designer clothing, sexy photo shoots. Adverts.
Can you see David Beckham applying for the Ibrox job?
Gerrard is a non runner.
SSB punter now stating the parks are for the off and this is because the new investors are coming in and want a clear run.
https://www.youtube.com/watch?v=hAOQlvOeYPk
Btw,
If I’m wrong about SG, I will resign my position as the site’s musical director and join the OC/ NC debating circle.
BIGBOAB1916MAY 2, 2018 at 22:14
SSB punter now stating the parks are for the off and this is because the new investors are coming in and want a clear run.
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Aye, because too many investors is a bad thing.
BIGBOAB1916
SSB punter now stating the parks are for the off and this is because the new investors are coming in and want a clear run.https://www.youtube.com/watch?v=hAOQlvOeYPk
That will be the chinese guy wan dum feck who is buying sevco tomorrow for that 429 million I mentioned earlier.
The argument about SG has been all night how much will he have to spend, Alex Rae stating the case for good Bosmans and the host Gordon stating but if SG spends millions Celtic will outspend them, now we are talking about finances and the ability to spend. you would as an outsider start to think financial power is key and would lead to teams having a sporting advantage, we all know thats not true did a judge not make that point?
The big rumour on follow follow tonight is that it is Billy Walker (sold a whisky company and is minted, RRM) who is the new investor coming in.
I ship you not Billy ……. Walker
HOMUNCULUSMAY 2, 2018 at 23:44
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The big rumour on follow follow tonight is that it is Billy Walker (sold a whisky company and is minted, RRM) who is the new investor coming in.
I ship you not Billy ……. Walker
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Annie Walker, former licencee of the Rover’s Return’s, errant son, Billy?
Ay, ya daft ‘aper!
Here’s my take on current events:-
King has absolutely no intention of throwing £12m into buying out other shareholders. He’s prevaricated so long now it should be perfectly obvious he’s buying time for something else. Why waste £12m just to increase your stake in a complete shambles.
He’s given the heads up to his loyal cohort P Murray & “investor” B Scott & told them to abandon ship before any cold shoulder is implemented.
He’s been backed into a corner and is snookered behind the black ball & that means he’ll try anything to get out.
Somehow he’ll fold Rangers & Letham/Park/Taylor with it (notwithstanding Close Bros) & present a Rangers v.3 to the followfollow mob.
The glib & shameless one will find a way to blame the TOP/SA authorities etc and will then promise to deliver Stevie G together with investment from China/Saudi/D Murray/Sounness/B Kennedy/any other idiot. A new and fantastic, once in a lifetime share issue will surely follow.
In any new consortium he’ll remain in the background as a silent investor with no authority but with the satisfaction of being some sort of saviour.
Absolutely bonkers I know, but I don’t know how to run a football club and neither does he, so it might work.
SG plus investment is a credible scenario, where King fits into the equation is the stumbling block.
HOMUNCULUSMAY 2, 2018 at 23:44
The big rumour on follow follow tonight is that it is Billy Walker (sold a whisky company and is minted, RRM) who is the new investor coming in.I ship you not Billy ……. Walker
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Given the desperation for positive news of real substance at Ibrox, I am sure if there was someone genuinely close to donating (because that’s what it is) £20-30m the favoured media poodles would have been given a firm tip-off, like they were that Gerrard had been spoken to. I did a google search on this Billy Walker and could not establish anything as to his likely net worth. Whatever it is I’m sure he didn’t attain it by throwing a fortune into a black hole.
However, Gerrard himself has confirmed more talks today or tomorrow. There are increasing reports his advisers want proof of funding in terms of a transfer budget. Some bloggers even say he has asked for £20m a season for three seasons. That might not be true, but if it is you wonder if he is looking for a reason to politely say no. Even Celtic, transparently managed and with money in the bank, would not guarantee a Manager that level of funding. If Gerrard does take the job then maybe someone with money is indeed coming in, although if that was the case why not go for a proven manager?
HOMUNCULUSMAY 2, 2018 at 23:44
I ship you not Billy ……. Walker
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THOMTHETHIMMAY 3, 2018 at 00:18
Annie Walker, former licencee of the Rover’s Return’s, errant son, Billy?Ay, ya daft ‘aper!
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Ok, ok…Craig Whyte…..The whisky guy
Re: Billy Walker
Link to details of the sale of his distillery interest in 2016 which looks like it netted him 20% of the £285 million sale price.
Could be a potential source of funds, but even with that level of wealth, unlikely to be able to fund 3 years @ £20 million for SG’s warchest.
http://www.heraldscotland.com/news/14456580.Edinburgh_based_BenRiach_Distillery_Company_sold_for___285m_to_Jack_Daniel_s_owner/
The directors leaving as the cold shoulder is imminent is, to me, the obvious link. If these gentlemen have any ambition to work in front nance in any way again, being tarred with the sickening brush of financial… misconduct? Malfeasance? Not cricket? Is not the way to go.
The other “option”, and I’m spitballing here, is that there is the doomsday option mark2: administration for the holding company. I think we discussed at admin1 “if there’s no meaningful punishment, what’s to stop them just racking up debts and doing it all again?” That they went full liquid wasn’t the plan but as they came back in this brand new structure, they haven’t had an admin event per se, what would the punishment of ditching the current debt mountain be? Bailing before that happens and these directors maintaining a clean slate – either for a comeback to son of Sevco or to continue their careers elsewhere without a stain, would be a valid reason to jump ship.
As I say, just flying a kite on this one, feel free to dismantle that argument as you see fit!
As for Stevie G or as The Grauniad’s “fiver” used to call him, Stevie Me (which then morphed to Stevie Mbe) – he’s loving being the centre of attention I am sure, but he’s not going to take a first managerial job with his hands tied and that’s what the lack of transfer funds would be.
The idea of a platoon of Bosmans is great in principle but anecdotally those guys look for the money saved in transfer fees to be given to them directly in wages and signing/other bonuses – getting them “on a free” is a definite misnomer.
Am 90% sure Stevie won’t come to Glasgow but 100% sure he won’t be an “immediate success” in Rangers metrics if he does.
Two weeks before Craig Whyte took over Rangers, Dave King, then a director at the club, warned of a possible future police investigation into the Whyte takeover. His warning came in a letter in April 2011 to the statutory takeover panel, set up in relation to the deal. Mr King wrote of concerns about the source of Mr Whyte’s funds to buy the club. Mr King said he was excluded from involvement in the takeover deal. Sir David Murray said this was not true.
http://www.bbc.co.uk/news/uk-scotland-40110475
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Sometimes you read something,and then you just have to read it again.
https://www.youtube.com/watch?v=mrZRURcb1cM
Ah well here we go again dreaming of what will be and will turn out to be moonbeams and rumours
JOCKYBHOYMAY 3, 2018 at 08:28
As I say, just flying a kite on this one, feel free to dismantle that argument as you see fit!
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Admin before the new season,points deduction,pressure off new manager for immediate success
“front nance” = finance
Question for today if i may.
Can you run a club/company with so few board members?
Not knowing the legal in’s and outs of it, is there a chance at the moment the board have finally realised they are past the point of no return and are looking at Admin2? Could they see this as an opportunity to take the points deduction (knowing that we are probably not eligable for Europe anyway) and hope to be out of admin by the start of the next season?
DarkbeforedawnMay 3, 2018 at 09:38
Not knowing the legal in’s and outs of it, is there a chance at the moment the board have finally realised they are past the point of no return and are looking at Admin2? Could they see this as an opportunity to take the points deduction (knowing that we are probably not eligable for Europe anyway) and hope to be out of admin by the start of the next season?
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While your arithmetic is a bit out, it would be admin one, not two, the idea that FFP might prevent the much needed European success making admin more appealing (if it ever such a thing could be considered appealing), possibly has merit.
PS Might I suggest, DBD, that your most welcome participation on SFM has perhaps opened your eyes to the true problems at Ibrox, and will put you in a better place emotionally, if, as you seem to accept as a distinct possibility, RIFC/TRFC do hit the insolvency wall. Too many of your fellow bears still seem blinded to the reality (not saying admin is certain) and are still sure the golden days are just around the corner. Reality might be a huge emotional shock for them. I’m sure you will survive OK and lend your support to whatever comes out the other side, hopefully full of characters more like yourself.
Just a wee thought.
Good days ahead seldom, if ever, provoke resignations from a soon to be in clover boardroom. On the other hand…
Someone should clarify to the sevcosphere that investment and spending are not synonyms using money for investment means having less to spend now in the expectation of having more income to spend later.
Absent being able to make fiat money that is how investment works- the delusion of fiat money killed the first Rangers.
JOHN CLARK
MAY 2, 2018 at 21:28
I have sometimes wondered what Murray brought to the party, other than a show of loyalty to King. He would not appear to have many millions to dip into if and when asked for a sizeable loan.
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Keith Jackson has a column in today’s online DR that will explain the importance of Mr. Murray. You may not agree with its contents, or, in fact, remember all of to what he refers, but it’s in the papers; it must be true!
My simplistic view is that Mr. Murray simply couldn’t contribute anything that RIFC needed (money, honey!) bar a dissenting voice & decided (or in that particularly RIFC way, it was decided for him!) that it was time to go. Remember, he has to live & work in Scotland, unlike Johnson, King & the Parks & he isn’t a particularly wealthy man. He also has to protect his professional standing as an individual.
As to Mr. Scott, I suspect that somebody somewhere wants their money back before the wheels come off, although it may be too late. I expect that he & the interests he is/was representing will be pursuing legal action shortly.
Just one more question if i may.
If SG does not sign on the dotted line today.Can i take my popcorn out of cold storage for consumption?
JOHN CLARK
MAY 2, 2018 at 21:28
I have sometimes wondered what Murray brought to the party,
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Paul Clark asked the same question.
I saw Highlandermay’s post about the BBC asking to see evidence of the official poo-pooing of the metaphysical club construct.
I think the best thing to do is turn it back on them by doing the following. Get an empty jar that has a nice tight lid. Put a clean white label on the jar and write on it “The Rangers Football Club”. Now tell them to prove to you that Rangers are NOT inside the jar. In order to do so they would have to pinpoint where Rangers are.
If I was to carry this further and money was no object I would then sell the jar and have the buyer sue me for fraud.Finally we’d get the court case that would once and for all say if Rangers are not inside that jar, where are they?
Busy day ahead and my brain is scrambled already so my long winded question to others who may have more time on their hands and/or a better feel for such things is:-
Given rumours of fantastic and huge sums of investment on the way to Govan, what are the mechanisms by which this could happen (without admin etc) that would deal fairly with the existing share ownership, resolve the existing loans, put money onto the pitch as opposed into people pockets and not fall foul of FFP rules that may exclude T’Rangers from potential European competition?
Wottpi
might I suggest the Capt W.E Johns answer “with one bound Biggles was free!”.
Given another blogger’s view on the demographic here that should be recognised by most.
I apologise to jeanbrodie if Johns was a bad man he was certainly of his time.
https://twitter.com/jamesdoleman/status/991987606077497345?s=20
BillydugMay 3, 2018 at 11:31
‘..https://twitter.com/jamesdoleman‘
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There was no notice of that on the Rolls last thing last night! Otherwise I might have gone in to see what was what.
The form of words
“P341/17 Pet: The Panel on Takeovers and Mergers for orders under section 955 ”
is what was used when the TOP first asked the Court to use its powers under S.955 to order King to comply. Lord Bannatyne made such an order, and King’s appeal against that was rejected by the higher Court.
Perhaps yesterday’s (mistaken) reference on the Rolls to ”interdict’ has confused us.
Maybe today’s approach to Lord Doherty is the formal notice by TOP that King has not complied, seeking the Court’s directions about how matters should be further pursued.
If so, then maybe King will be asked to explain himself ( and given more time to spin things out!) or face contempt charges.
I’ve no idea of what are the mechanics of that, or how quickly things could move or how long they could drag on!
Is the business plan at Ibrox to sell a pup to Gerrard, then having sold him it, seek “investors” to back up their promises? Looks like it to me.