Whose assets are they anyway?

Avatar ByBig Pink

Whose assets are they anyway?

It has recently been suggested to me quite strongly by two separate Finance Industry experts that no matter the outcomes of the forthcoming criminal trials into the sale of Rangers and the subsequent disposal of the liquidated assets, it is highly unlikely that the sale will be reversed. In fact BDO (the liquidators of Rangers) see the path of least resistance to any remedy (if guilty verdicts are returned) through the professional indemnity insurance held by organisations involved (I am choosing my words carefully here to comply with the rules surrounding the court case).

There is of course still the dispute between the owners of Sevco 5088 and Sevco Scotland to consider (although depending on the outcome of the criminal cases, that may be moot).

On the face of it, all of this is good news for TRFC and Dave King. After all, one of the main problems they have been facing is the uncertainty over the ownership of the assets, and if BDO are swinging in the direction indicated above, King and his board are free to move forward – you would think.

The recent plans to raise cash from the fans is I think a smart one, but it is still a sticking plaster applied to a gunshot wound. Rangers already have a gate income which is the envy of not just most Scottish clubs, but clubs much further afield. Their problem is their astronomical fixed costs, their dilapidated infrastructure, and possible cash outflow through the fabled ‘onerous contracts’.

Even putting in place a severe austerity package (which may be unpalatable to fans being asked to part with their cash to buy off pesky shareholders who don’t share King’s vision) does not remove the need to capitalise urgently to repair the stadium and build a squad capable of competing in Scotland. So they need to raise cash, and they need it quickly – because soft loans cannot be provided forever.

So the share issue route is the obvious way to go, and to do that effectively, a listing on an exchange is required. However our sources in the financial world don’t think it is possible that this could happen with the current regime for the following reasons (not in order of importance);

  1. They have absolutely no credible business plan to move forward over the next five years – only a commitment to limping on with soft loans;
  2. The current chairman is a convicted felon;
  3. Two directors of the new company were directors of the company now in liquidation;
  4. They have no line of credit;
  5. They are already in debt to the tune of at least £12m – increasing as I write;
  6. They are unable to repay that debt;
  7. There is still a nominal (even if we accept the BDO position above) doubt over the ownership of assets;
  8. The football team does not play in the top league – and European income isn’t coming soon;
  9. The company have astronomical fixed costs which are way in excess of their income.

So even if the doubt over the ownership of assets is removed, there isn’t an easily navigable route for TRFC into calmer waters.

My own conclusion is that perhaps the biggest single thing that is holding Rangers back is Dave King. I really don’t know what his motivation is. There is speculation that he has his eyes on the increasing cash-pot and diminishing creditor list at the Oldco. Some Rangers bloggers are suggesting  that a land-grab play is taking place. I think the former is far more plausible than the latter, but if we take his RRM credential at face-value, it seems to me that the Rangers-minded thing for him to do would be to reverse himself out of the position he is in.

That might enable the company to raise some of the cash they need to repair the stadium, rebuild the infrastructure within the club (players, management, youth and scouting etc.).

Are King, Taylor and Park really in this so they can indefinitely fork out £10m per year? Will Taylor and Park continue to ally themselves with King if he is the impediment to inward investment that we think he is? Park will most certainly not, and my information, from sources very close to him, is that he is done.

The fractures in KingCo are beginning to appear, and King himself may come under increasing pressure to do what is best for the future of the club, which is to remove himself from the equation and allow those better placed to take it forward.

It is often speculated elsewhere that SFM is a Celtic blog, and even those who give us credit for being a much broader church than that will still insist that we are anti-Rangers, obsessed with Rangers, and out to get Rangers.

The occasional outburst of Schadenfreude from commenters aside (it IS a football forum after all guys) SFM is quite definitely not editorially anti-Rangers.

I think the evidence shows that we are nothing of the kind, and it doesn’t do Rangers any favours to conflate our position on the corrupt nature of the governance of the game with that of the Ibrox club – new or old. Where we do discuss Rangers (as we have in this article), it is with an acknowledgment that the money flying around in football makes all of our clubs vulnerable to the kind of rip-off merchants who have wandered in and out of Ibrox in the past few years.

There are many areas where the SFM consensus is unpalatable to Rangers fans. But protecting all of our clubs and their fans from mismanagement is hopefully not one of them.

Also, despite the many rivalries within the game, Rangers are an important focus (old club or new) for tens of thousands of fans. As such they are of interest to ALL of us who support football in this country. Anyway, I tend to be more obsessive about my own club – and find it rather easier to be objective about others 🙂

My own preference in moving the debate forward is to get the perspective of Rangers fans on these issues. I am ever hopeful that we can have Rangers fans engage with the blog and look for areas where we have common purpose.

Nobody at SFM wants Rangers fans to have no team to support. Nobody here wants the SFA to stay unregulated and unaccountable. Nobody at SFM wants people to make up rules they go along just for the sake of a few quid. I can’t believe that Rangers fans don’t share those values.

I agree that Rangers fans are victims of this affair to a large extent, but the culprits are quite definitely not us at SFM. They need to look closer to home to find them.

About the author

Avatar

Big Pink administrator

Big Pink is John Cole; a former schoolteacher based in the West of Scotland, He is also a print and broadcast journalist who is engaged in the running of SFM . Former gigs include Newstalk 106, the Celtic View, and Channel67. A Celtic fan, he is also the voice of our podcast initiative.

1,787 Comments so far

Cygnus X2

Cygnus X2Posted on8:21 am - Nov 2, 2015


As a Pars fan I have sympathy with the situation in which Rangers fans find themselves.  Obviously Gavin Masterton played a major part in feeding their addiction to success over many years, defying all commercial logic throughout.
No fan wants to see their club fail/falter/die.  However, it became clear to many Dunfermline fans that Gavin Masterton would need to be forced out of the club for it to have any chance of survival.  The primary way for the fans to force him out of the club was to stop spending their money and stop going to games.
The Pars very nearly died and may take a long time to recover, but we are now owned and run by the fans and by people who have put the fanbase at the heart of the club.
At some point Rangers fans are going to have to ‘do walking away’ if they want their club back in the longer term.  Every penny ‘invested’ in buying shares, tickets, pies and parking at the moment is money that should be set aside to rebuild when the whole edifice finally collapses (again).
The only way to get rid of DCK and possibly even MA is to starve them out.

View Comment

Corrupt official

Corrupt officialPosted on8:44 am - Nov 2, 2015


Cygnus X2 2nd November 2015 at 8:21 am

       I have to agree with you, and there will be no better time than now. Previously, and with money in the bank, that would have been akin to gingerly removing a sticking plaster from a hairy leg, but with cash flow being the way it is believed to be now, A couple of games would be all it takes for the swift removal and a wee bald patch left in its stead. 

View Comment

Avatar

bfbpuzzledPosted on9:53 am - Nov 2, 2015


To agree with John Clark -anyone who has not read Damon Runyon should do so it is wonderfully hilarious stuff. Apposite lay it is written in the continuous present allowing stuff to be forgotten about apart from he use of rods and such by Harry the Horse and his associates.
The equity for loans scheme is ponziesque- fund our losses and we will give you part of the loss making business to allow it to continue to make losses. is there any way to stem the losses? Yes we borrow more money to restore the plant and then borrow more money to pay more for better players at higher wages to catch up and surpass all of the teams in a higher league including one which is on a different financial and business level than any of the others so that eventually after proving our probity by several years account we can play several increasingly difficult ties to reach the group stages of a tournament which we have no chances of proceeding in. Say it quickly and it makes no sense say it slowly it makes no sense. 

One of the diseases of the present age is entitlement -because you are worth it – and it is in a heightened form down Govan way.

it seems one can download Damon Runyon from Gutenberg Australia free gratis and for nothing  as the man himself said not that I would know that 

View Comment

Avatar

rabtdogPosted on10:34 am - Nov 2, 2015


After all the speculation, including mine, did Rangers have the normal crest on their jerseys yesterday? I’ve seen nothing to suggest they didn’t.

View Comment

Avatar

FairBairnPosted on11:06 am - Nov 2, 2015


RTD, It seems they did. Sorry, Image not the best.

View Comment

Avatar

redlichtiePosted on11:26 am - Nov 2, 2015


The Cat NR1 2nd November 2015 at 1:13 am # I assume that the targetted adverts were a wee bit off target with that, but logging on to SFM and seeing Norwich mentioned in the ads sometimes is quite impressive. I assume DP and EBC must get similarly regional ads occasionally.
—————————————————————————–Cat – I have not seen the ‘Norwich’ mentions myself but was wondering if in fact they were not actually of a geographic nature but were in some way tied to the Russian ads that our JC has been perusing?  14
Possibly, dare I say it, an attempt at market penetration?
Scottish Football needs a strong Arbroath.

View Comment

neepheid

neepheidPosted on12:18 pm - Nov 2, 2015


Cygnus X2 2nd November 2015 at 8:21 am
At some point Rangers fans are going to have to ‘do walking away’ if they want their club back in the longer term. Every penny ‘invested’ in buying shares, tickets, pies and parking at the moment is money that should be set aside to rebuild when the whole edifice finally collapses

That is spot on. Unfortunately. in this case the vast majority of the fans are totally besotted with the idea of wealthy “Real Rangers Men” coming to the rescue. That kind of “thinking” has cost them dear.
When you look at the money which has been spent (or more accurately, squandered) since July 2012, you really have to wonder about the mentality at work here. Say £22m IPO money, £70m for 3.5  years turnover, Ashley loan £5m, soft loans £4.5m, emergency share issue £4m, and I’m sure there will be other stuff I’ve forgotten about. Total cash put in of close to £105m, the majority from the pockets of the fans, and almost all of it spent. Spent on what? To keep a team playing at Ibrox in the lower leagues of Scottish football. That is  beyond madness.
To give the current management some credit, the costs of the football operation seems to have finally been brought under control. Three years too late of course. Unfortunately, that coincides with a collapse in the retail income, and looming legal costs which threaten the very existence of the business.
I suppose it is pointless to speculate what a fan controlled club could have done with over £100m, because that money is gone for ever. The leaders of the fan groups continue to throw the fans’ money away by buying up worthless shares, no doubt at fancy prices, and no doubt in anticipation of a blazer. The fans themselves continue to pump in their hard earned money  buying tickets, pies, programmes etc. in the misguided belief that they are saving their club. In fact they are just prolonging the agony.
Unless and until the fans are prepared to lead a clean fresh start themselves, instead of just “follow following” whoever is deemed a “Real Rangers Man” this week, the monster that Green created will continue to gobble up any amount of cash that is thrown at it.
By the way, and in my opinion only, Dave King is about as much a “Real Rangers Man” as I am. There were rumours last week that King has been thrown under the bus by the Three Bears, who have had enough of his posturing on the back of other peoples’ money. The fans had better hope it’s true for the sake of their club’s future. Sadly for them, it seems only a tiny minority share that view.

View Comment

Avatar

Paulmac2Posted on12:33 pm - Nov 2, 2015


Even though it has been a while since I last appeared I have continued to keep a pace with what has been going on.
Whilst sitting here in Englandshire it is clear the interest in what is happening within the English media has died a death, not that the interest was that high to start with and it was heavily influenced by certain Scottish Sports reporters in any case.
In England there now seems an acceptance that there is a team called Rangers and they play in Scotland with no further debate.
How and ever the fight still goes on inside Scotland.
I watched the KJ video of his interview in Australia…jeesus wept…he did his best to avoid saying liquidated….if you watch closely at one point he starts to use the word li…..and then diverts across to other terminology, no doubt directed by a well known South African resident via an ear piece shouting…’Keith’ every time the word liquidation is in danger of leaving his lips. 
Fair play the Aussie interviewer who called it straight by stating it is a legal fact they were liquidated…with KJ nodding in agreement.  That is as close as you will get to honesty from KJ
Ps. It will still cost £27 million to get shot of MA….£15-£20 million to bring the stadium up to standard…£4.5 million to pay back the other soft loans…not bad for a 3 year old club struggling to pay the wages and no credit line from a Bank. All this and a court case yet to decide who covers the costs..
But as DCK has suggested…it will all be SD’s fault…timing is everything as they say,get your punches in first!
 

View Comment

Avatar

joburgt1mPosted on12:33 pm - Nov 2, 2015


Redlichtie & Cat NR1

Most of the ads I see are of South African origin, the rest are usually .co.uk  so you are probably correct about the geographic nature of them.
Still not seen the russian dating one yet 03

View Comment

Avatar

Big PinkPosted on1:17 pm - Nov 2, 2015


We have commissioned a new SFM mug (with the new logo), but the costs are pretty high. If I can get an indication of how many of you would be interested in purchasing we can see if it would be worthwhile.

We would have to sell them at around £16 to make it a worthwhile exercise. If the response is good, I will add the mug to the shop.

View Comment

Avatar

rabtdogPosted on1:28 pm - Nov 2, 2015


Please note. Rangers are a ‘Champions League’ club in the same way that Derby, Leeds, Nottingham Forest and the Sheffield sides are ‘Premiership’ clubs.

View Comment

Avatar

SmugasPosted on1:37 pm - Nov 2, 2015


Perverse logic required though neepheid.

If they throw money at it, particularly OPM, and even more specifically bearing in mind that now apparently being liquidated doesn’t matter anyway then clearly the rangers* that was deemed saving previously will still be considered thus.  At least by everyone that matters.  [fans need not apply btw]

Yes we can argue till the bovines return what they have to gain by following the Dunfermline poster’s boycott model but until it can be demonstrated to them, forcibly if needs be, what they have to lose by continuing on their existing path then why the dingly dell should they?  Because some “insert Irish resident slang of choice” says so (even if imparted as well intentioned advice)?  Not going to happen.

There has to be downside before attitudes will be changed.  

Just as an example I wonder if attitudes towards administration have hardened today for instance now that Hibs are 5 points back and not the 11 as planned?

View Comment

Avatar

rabtdogPosted on1:40 pm - Nov 2, 2015


Decoding Phil’s cryptic epistles gets tiresome sometimes but the gist of the most recent seems to be:
• Level 5 binned
• PR now taken care of by someone relatively inexperienced (although given Phil’s ‘Peace Be Upon You’ schtick, it could be anyone from Jesus to Stevie in IT)
• No unanimity at board level over future funding & loans

Interesting…

View Comment

Avatar

James DolemanPosted on1:48 pm - Nov 2, 2015


Looks like RFC fans are being wound up to go for Ashley again. Bad news on the horizon?

https://www.facebook.com/SonsOfStruth/posts/1700246263539828

“Any fans who still harbour thoughts that Ashley may not be a bad guy would be well advised to keep their eyes and ears opened for the next few days and weeks as we find out more about Ashley and his actions.”

View Comment

Avatar

SmugasPosted on1:53 pm - Nov 2, 2015


Not being a SoS follow follower is there a similar message regarding the fractured board’s intention to wipe out the supporters shareholding?

Just asking?

View Comment

Avatar

James DolemanPosted on1:57 pm - Nov 2, 2015


No, but the Son’s of Struth do have a wide range of shirts you can buy as an alternative, all profits to, er, get back to you on that one.

http://store.sonsofstruth.co.uk/t/sos-puma-football-jersey-blue

View Comment

neepheid

neepheidPosted on2:12 pm - Nov 2, 2015


rabtdog 2nd November 2015 at 1:28 pm #Please note. Rangers are a ‘Champions League’ club in the same way that Derby, Leeds, Nottingham Forest and the Sheffield sides are ‘Premiership’ clubs.

Please don’t lump Notts Forest in with that lot. They were Champions of Europe twice in a row, and have a great deal more credibility as a “Champions League club” than anything ever playing at Ibrox, or Sheffield even.
Did Brian Clough maybe have a Magic Hat? I can just imagine what he would have had to say about that!

View Comment

tykebhoy

tykebhoyPosted on2:16 pm - Nov 2, 2015


Rabtdog says
given Phil’s ‘Peace Be Upon You’ schtick,

Without getting too much into religion isn’t than most likely toe refer to the middle-east approaching the Indian sub-continent.  Is the suggestion its been out-sourced abroad.  Goodness, gracious me 22

View Comment

The Cat NR1

The Cat NR1Posted on2:31 pm - Nov 2, 2015


neepheid 2nd November 2015 at 2:12 pm #rabtdog 2nd November 2015 at 1:28 pm #Please note. Rangers are a ‘Champions League’ club in the same way that Derby, Leeds, Nottingham Forest and the Sheffield sides are ‘Premiership’ clubs.Please don’t lump Notts Forest in with that lot. They were Champions of Europe twice in a row, and have a great deal more credibility as a “Champions League club” than anything ever playing at Ibrox, or Sheffield even. Did Brian Clough maybe have a Magic Hat? I can just imagine what he would have had to say about that!
======================
It’s Nottm Forest or Notts County, but not a combination of both, to be pedantic. 02
“Cloughie says Not Notts”, as the old City Ground banner used to say.
He didn’t need a magic hat though, as he was able to walk on water (across the Trent) without one. A true legend that will never be forgotten.

View Comment

Avatar

SmugasPosted on2:35 pm - Nov 2, 2015


Tykebhoy,

There is clearly a religion based metaphorical in-joke as to the author of the piece but its beyond my ken I’m afraid.

Guesses in no particular order:

DCK
miniMurray
Ali Johnston

View Comment

Corrupt official

Corrupt officialPosted on2:50 pm - Nov 2, 2015


James Doleman 2nd November 2015 at 1:48 pm #Looks like RFC fans are being wound up to go for Ashley again. Bad news on the horizon?
https://www.facebook.com/SonsOfStruth/posts/1700246263539828
    ———————————————————————————-
  James, Nothing more than rabble-rousing as every man and his blind dug knows a boycott is futile. 
    I like the way they call it “their” club. When will they come to learn that they stood around and watched their club die. This is Ashley’s (amongst others)new club, and he parted with more than a few shillings to get it off the ground. 
    If they don’t like Ashley, then don’t follow his club….Simples !…. He will soon go away. D’oh.
   

View Comment

neepheid

neepheidPosted on3:12 pm - Nov 2, 2015


Hey, Big Pink, one of your ads has just told me to “go with your gut- see where it lands”. Yes, I must concede that things have got a bit out of control in that department lately, but I wonder how Mini got to find this out, and target their ad accordingly?
Sadly, no more Russian lovelies for me, it seems, although the likes of John Clark are apparently getting favoured treatment. While for me, just targeted chastisement about my body shape. Deplorable, really.0505

View Comment

woodstein

woodsteinPosted on3:23 pm - Nov 2, 2015


“Our club has been ransacked enough by illegal methods in the past that to sit back and let borderline legal actions carry on unchallenged is unthinkable”
Challenges cost money whether the legal actions are borderline or not.
This looks like a prophecy now.
http://www.onfieldsofgreen.com/sevco-face-being-gavelled-out-of-existence/

View Comment

zerotolerance1903

zerotolerance1903Posted on3:31 pm - Nov 2, 2015


So hypothetically, if RIFC/TRFC were to enter administration in the next month or two, what would we see unfolding?
1. Points deduction – did the SPFL finally end up at a standardised 15 point penalty getting rid of the 1/3 of prior season total?  Or would it be 23 points (1/3 of 70)?  
Is the first versus subsequent insolvency event penalty still a thing?  Presumably TRFC would, in this situation, argue that any insolvency event was their first ?
Let’s assume 15 points deduction so ceteris paribus Hibs lead by 4 points from Falkirk.  TRFC drop to 5th, 10 points behind.

2. Appointment of administrators – presumably the appointment at TRFC would get closer scrutiny than the D&P appointment at Rangers.  I guess it would partly come down to who forces it though.  Candidates would be the current board, Ashley and who else?
One would hope to see a Big 4 aligned insolvency practitioner appointed.

3. Actions of the administrators – again I would assume that whoever was appointed as admin of TRFC would be aware of ongoing fallout from the administration and liquidation of Rangers.  One would then assume that normal administration behaviours to ensue – redundancies, saleable assets sold, costs reduced and an attempt to come to an arrangement with creditors.

So the question is, if admin and ensuing points deduction were to happen and the administrators were to sell key players, return loanees, etc, would TRFC be able to claw their way back into the playoff picture?

View Comment

StevieBC

StevieBCPosted on3:39 pm - Nov 2, 2015


To add to the ads debate: I just checked my ‘targeted’ ad…for ‘IBS’ !!
No idea how that match would appear – seems like BS to me. 21
[Or could this be an unwelcome, subliminal message about the quality of my posts ?!]

And because of the topics we routinely discuss on SFM, should the ads not be about obtaining
– PR
– cheap funding
– legal representation, [for IP in particular]
– asbestos removal
– stadium refurbishment
– journalism courses  232323

etc…

[And totally OT: before I left the house this morning Rod Stewart was performing on a breakfast TV show. His backing group’s bass drum had a a full-sized CFC badge on the front of it. He canny sing, but fair play – he is doing his bit to promote Scottish football overseas !
And I’m guessing he will be invoicing the SFA in due course…? 14]

View Comment

neepheid

neepheidPosted on4:11 pm - Nov 2, 2015


woodstein 2nd November 2015 at 3:23 pm #“Our club has been ransacked enough by illegal methods in the past that to sit back and let borderline legal actions carry on unchallenged is unthinkable”

Borderline legal means legal, full stop. What is the point in going to law to challenge actions which even on your own construction are legal? Even SoS aren’t that stupid, surely05
Or do SoS mean taking “borderline” illegal actions to oppose legal actions? Like blocking up SD shops with vexatious pretend “customers”? Best of luck with that, lads. It’s like watching a toddler poking a rottweiler with a pointy stick- it’s never going to end well.

View Comment

The Cat NR1

The Cat NR1Posted on4:32 pm - Nov 2, 2015


woodstein 2nd November 2015 at 3:23 pm #“Our club has been ransacked enough by illegal methods in the past that to sit back and let borderline legal actions carry on unchallenged is unthinkable” Challenges cost money whether the legal actions are borderline or not. This looks like a prophecy now. http://www.onfieldsofgreen.com/sevco-face-being-gavelled-out-of-existence/
=======================
The definition of borderline is no doubt from the same alternative dictionary that produced the new interpretation of “investment”.

View Comment

Avatar

John ClarkPosted on4:46 pm - Nov 2, 2015


Ads? The Russian dating line has gone, and now ( perhaps in relation to the state-of-Ibrox?) I’m getting ‘Sourcing Aluminium Profiles’, offers of Mercedes cars, and Lanzarote flights.05Niet, tovarich!

View Comment

Paradisebhoy

ParadisebhoyPosted on4:58 pm - Nov 2, 2015


Trying to decipher PMG’s cryptic clues is a problem – I thought that his references to Mecca and the Prophet indicated that the author of the latest statement was none other than CG , Rangers last short-term Director. Maybe not . 10 

View Comment

woodstein

woodsteinPosted on5:05 pm - Nov 2, 2015


neepheid 2nd November 2015 at 4:11 pm
The Cat NR1 2nd November 2015 at 4:32 pm
 19
———————————————————-
John Clark 2nd November 2015 at 4:46 pm
Try this,  press query and scroll down.
https://www.iplocation.net/

View Comment

Avatar

stevoPosted on5:12 pm - Nov 2, 2015


zerotolerance1903 2nd November 2015 at 3:31 pm

Presumably TRFC would, in this situation, argue that any insolvency event was their first ?

If the 5-way agreement really does state that Rangers would accept Oldco’s punishments, 25 points it is. And even if it doesn’t, the SFA licence was transferred from Oldco to Newco, so the penalty for a second insolvency event should follow it.

View Comment

woodstein

woodsteinPosted on5:42 pm - Nov 2, 2015


Paradisebhoy 2nd November 2015 at 4:58 pm #
 
CG thinks so too (twitter)
18

View Comment

woodstein

woodsteinPosted on5:56 pm - Nov 2, 2015


stevo 2nd November 2015 at 5:12 pm
————————————-
and this too.
 
Neil Doncaster: Q&A with SPFL chief executive
By Chris McLaughlin BBC Sport
 
http://www.bbc.co.uk/sport/0/football/30646033

View Comment

Avatar

magicroundaboutPosted on5:58 pm - Nov 2, 2015


“Earnest y21oung chap” Ernst Young, chap. Now that’s a toughie.

View Comment

Homunculus

HomunculusPosted on5:59 pm - Nov 2, 2015


I don’t know if this is real or not, but for what it’s worth

View Comment

Homunculus

HomunculusPosted on6:19 pm - Nov 2, 2015


neepheid 2nd November 2015 at 4:11 pm #

It’s like watching a toddler poking a rottweiler with a pointy stick- it’s never going to end well.

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

That really depends, for the Rotweiller it’s unlikely to present very much of a problem.

View Comment

scottc

scottcPosted on6:27 pm - Nov 2, 2015


magicroundabout 2nd November 2015 at 5:58 pm #“Earnest y oung chap” Ernst Young, chap. Now that’s a toughie.

04 Yup. Makes a lot of sense. Keep it in house and all that. 

View Comment

Avatar

ChristyboyPosted on6:53 pm - Nov 2, 2015


Steve, I have always been of the opinion that it should be a fifteen point deduction, that they are a new club.When you mentioned that the two entities exchanged licences I thought that can’t be right, club 12 got that but I mixed up licence and share. Anyway whilst checking that I came across these two beauties…..
http://www.bbc.co.uk/sport/0/football/19120224

http://www.bbc.co.uk/sport/0/football/19108947

It’s a 15 point deduction for me every time even if they did take over the licence. 

View Comment

Avatar

John ClarkPosted on6:54 pm - Nov 2, 2015


woodstein 2nd November 2015 at 5:05 pm #
‘..John Clark 2nd November 2015 at 4:46 pmTry this, press query and scroll down.https://www.iplocation.net/
________Grateful, woodstein. Not sure I really understand, but I will work earnestly to clue myself up a little and get a proper understanding of how the internet works, from Government- agreed international protocols to the wee deals between BT and the smaller ISP s.

View Comment

Avatar

John ClarkPosted on7:07 pm - Nov 2, 2015


Christyboy 2nd November 2015 at 6:53 pm #
‘..I have always been of the opinion that it should be a fifteen point deduction, ‘
_______
Remember , though, we are dealing with   men of no integrity, for whom the word ‘should’ has no meaning.

View Comment

Avatar

easyJamboPosted on7:10 pm - Nov 2, 2015


Increased cash distribution from the SPFL according to STV.
http://sport.stv.tv/football/clubs/celtic/1331865-spfl-sides-to-share-record-21m-prize-money-payout-in-201516-season/

View Comment

Avatar

alzipratuPosted on7:14 pm - Nov 2, 2015


rabtdog 2nd November 2015 at 1:40 pm #Decoding Phil’s cryptic epistles gets tiresome sometimes but the gist of the most recent seems to be:• Level 5 binned• PR now taken care of by someone relatively inexperienced (although given Phil’s ‘Peace Be Upon You’ schtick, it could be anyone from Jesus to Stevie in IT)• No unanimity at board level over future funding & loansInteresting…

*****
I think you’ll find the “peace be with you” reference refers to a short-lived former Sevco director who has so far backed every chancer that has ridden down Edmiston Drive providing much merriment for the rest of us. Think storm clouds over Ibrox.

View Comment

Avatar

John ClarkPosted on7:16 pm - Nov 2, 2015


Sportsound, a few minutes ago.
Is Kenny McIntyre’s faith beginning to be shaken? Making noises of agreement with Stubbs that “we need the Rangers and the Hibs”  in the top tier.
Is he beginning the propaganda campaign  because he fears that there will be a ‘second’ insolvency event?
Can we now expect a steady build up of pressure to ensure that, whether by ’emergency’ rule changes, or the exercise of ‘discretion,’ or more mental gymnastics by the likes of the Brysons, TRFC WILL be in the Premiership next season?

View Comment

Avatar

ChristyboyPosted on7:25 pm - Nov 2, 2015


Aye,your right John. Widnae get a rid face at a bonfire.

View Comment

Avatar

SmugasPosted on7:34 pm - Nov 2, 2015


John clark

every November without fail the beaks discuss league expansion.  If they want to forego debate then fine, announce in July prior the season starting that it will happen in the season after next so that everyone knows where they stand.  Anything else is conspicuously contrived and fans would be well warned to stay clear.

View Comment

Homunculus

HomunculusPosted on7:41 pm - Nov 2, 2015


I agree, any change to the league structure must have one clear season. As has been discussed here before, no competition should have it’s rules changed during the competition.

View Comment

Corrupt official

Corrupt officialPosted on7:48 pm - Nov 2, 2015


stevo 2nd November 2015 at 5:12 pm
If the 5-way agreement really does state that Rangers would accept Oldco’s punishments,
     —————————————————————————————–
   How much legal weight would a document have, if, depending on certain outcomes, two of the five signatories were actually engaged in fraudulent activity and organised crime. 
   Furthermore, how much faith should we have in our sports governors, and their legal advisors, in entering into, and co-signing such an agreement. At the very least I consider that displaying such a lack of due diligence into their signing partners would at least constitute a resignation level offence, having facilitated the introduction of criminals into our game. 
   Scottish fitba fans have been against this document and against allowing these crooks to participate from the outset. SPL clubs can feel vindicated, and it must be understood the pressure, of blackmail and bullying involved in forcing the hand of SFL clubs, into being left with little option but to play ball. 
    If guilty verdicts are returned, have our governors also been party to an act of organised crime? …..Well we won’t know until we see the Effen document….But it would explain why it is an Effen secret. I think the Effen polis should be having a wee Effen look at it.

View Comment

Avatar

Madbhoy24941Posted on7:59 pm - Nov 2, 2015


Remember where you heard this first:

There will NOT be a 2nd admin!

View Comment

Avatar

RPMcMurphyPosted on8:05 pm - Nov 2, 2015


Madbhoy

It cannot possibly be a 2nd Admin event,  the Club / Company / Holding whatever they want to call it, has never suffered an insolvency event of any description. 15 point deduction for the time being with Liquidation likely in due course.

View Comment

tony

tonyPosted on8:25 pm - Nov 2, 2015


gotta agree with mcmurphy

View Comment

ianagain

ianagainPosted on8:33 pm - Nov 2, 2015


I wonder if anyone down Edmiston Dr dares answer any of the outside lines at the mo.

There is bound to be an irate lawyer on the other end.
You were served with notice, you ignored it. Our lot will see your lot shortly.

Brief your briefs.

And check your bank balance, this ones going to outstrip “eye watering”.

They were warned.
But no skin off DKs back Rangers beyond belief or whatever its called will pay for it. Gladly it seems.

View Comment

Avatar

nawlitePosted on8:42 pm - Nov 2, 2015


Ianagain, are you referring to the team wearing strips with the badges on against Hibs? If so, do you think there’s “bound to be” an irate lawyer on the phone? I.e. do we know for certain that a cease and desist order has been issued to forbid that? I saw it suggested, but don’t want to get ahead of myself (though it would be very interesting if they had gone against such a court order).

View Comment

ianagain

ianagainPosted on8:46 pm - Nov 2, 2015


Yes I do believe its been served, and do believe they were extremely stupid to ignore it.

View Comment

ianagain

ianagainPosted on8:58 pm - Nov 2, 2015


The man on the end of the phone:

Adam Lewis QC

http://www.blackstonechambers.com/people/barristers/adam_lewis_qc.html
There real gone kids. as the song goes.

View Comment

Avatar

nawlitePosted on8:58 pm - Nov 2, 2015


Interesting, “believe” because of what you’ve read from Phil, JJ etc or know for some other reason?

Genuine question, hoping the answer is know!

View Comment

ianagain

ianagainPosted on9:17 pm - Nov 2, 2015


I believe because of the startling statement from Rangers, DCKs rant (didn’t appear without a prompt) and JJs long long pursuit of DCK and knowledge of his mores.
To back this up yes PMcG is along the same lines.
I find it all so persuasive to a degree I will call it 99% likely.
The English court Rolls will eventually reveal if I’m right or wrong.

View Comment

Avatar

rabtdogPosted on9:19 pm - Nov 2, 2015


alzipratu

thanks

View Comment

StevieBC

StevieBCPosted on10:05 pm - Nov 2, 2015


If King has departed UK shores already, then what really was the purpose of this visit ?

Phil stated that both Murray and Letham made separate trips to Ashley’s HQ last week [?].
If King was serious about TRFC – and assuming he doesn’t have the cash – then why did he not eat humble pie and visit Ashley himself ?
Why bother turning up afterwards to issue a nonsensical statement, and then attend a Chelsea match ?
Perhaps he has other UK business which necessitates a visit to London every so often : I don’t know.
Other Bampots have speculated about the real reasons behind King’s UK visits.
But King’s actions seem to belie his claim to be a ‘RRM’.
Wrt TRFC business: what can he not do from South Africa, but which requires his personal attendance in the UK ?

View Comment

Avatar

John ClarkPosted on10:20 pm - Nov 2, 2015


ianagain 2nd November 2015 at 8:46pm
‘..Yes I do believe its been served, and do believe they were extremely stupid to ignore it.’
_________
I think I’ve missed something, ianagain. I saw some earlier-than-today posts about ‘cease and desist’, but sort of thought people were simply talking about the possibility that Ashley had had a ‘cease and desist’ letter sent to the TRFC Board.
Are you saying that not only has that happened, but that it happened long enough ago for Ashley to have already had a Court Judgement ordering the Board to   ‘cease and desist’, and that the Board (very obviously ignoring it yesterday) are actually in defiance of the Court?, and not just ignoring the letter from Ashley?
What puzzles me is that I would have expected the Court now to be making the running, rather than Ashley’s QC, if the Board have ignored a Court order?
Could it just be that the Board has failed to respond properly to Ashley’s request within the stipulated time, and now Ashley has instructed his QC to take the matter to Court in order to obtain the Court’s backing?
And the Adam Lewis boy’s CV is pretty impressive!
I noticed incidentally that Richard Keen QC , who appeared for RFC in the ‘transfer embargo’ matter belonged to the same ‘stable’ as Lewis, before he (Keen)became Lord Advocate..

View Comment

Corrupt official

Corrupt officialPosted on10:42 pm - Nov 2, 2015


Maybe this will shed some light on the badge issue…….or some other matter

https://twitter.com/Daily_Record/status/661309585324556288

View Comment

Avatar

easyJamboPosted on10:44 pm - Nov 2, 2015


Corrupt official 2nd November 2015 at 10:42 pm # Maybe this will shed some light on the badge issue…….or some other matter
https://twitter.com/Daily_Record/status/661309585324556288
======================
MA claims he breached a gagging order in an interview with Sky.

View Comment

StevieBC

StevieBCPosted on10:50 pm - Nov 2, 2015


Corrupt official 2nd November 2015 at 10:42 pm #Maybe this will shed some light on the badge issue
https://twitter.com/Daily_Record/status/661309585324556288
=========================================
Eye-catching DR headline, but then again it’s from Keef !
[Has he actually got any quotes from Ashley ?]

eJ mentioning MA quoted on Sky…so something is definitely happening…
No idea what the hell is really going on – but popcorn on standby  22

View Comment

Avatar

easyJamboPosted on10:55 pm - Nov 2, 2015


I think this is the story that upset Craig Houston earlier and prompted him to put out a rant on Facebook

http://m.eveningtimes.co.uk/news/13931530.Sports_Direct_bid_to_block_charity_cash_to_Rangers_Former_Players_Benevolent_Fund/?ref=twtrec

View Comment

neepheid

neepheidPosted on10:55 pm - Nov 2, 2015


https://t.co/wrzng5AFVw

From Chris Jack of the Evening Times-
Sports Direct bid to block charity cash to Rangers Former Players Benevolent Fund

View Comment

Avatar

y4rmyPosted on11:03 pm - Nov 2, 2015


Can’t imagine a court appearance will present any problems for the redoubtable King. He can merely point to his spotless record and previous good character and the case will be dismissed.

View Comment

Corrupt official

Corrupt officialPosted on11:14 pm - Nov 2, 2015


easyJambo 2nd November 2015 at 10:44 pm
   “MA claims he breached a gagging order in an interview with Sky.”
   ———————————————————————————————-
Any idea if it is this interview EJ?. This doesn’t appear so much to be breeching confidentiality, but more a libelous statement accusing Sports Direct of malpractise and possibly criminality

View Comment

Avatar

easyJamboPosted on11:20 pm - Nov 2, 2015


I don’t know what interview it was. I just read it from the front page. 

View Comment

Corrupt official

Corrupt officialPosted on11:22 pm - Nov 2, 2015


lol. It seems its about sons of Strewth giving away wee empty wallets with the badge on. Oh the delicious irony.

http://m.eveningtimes.co.uk/news/13931530.display/

View Comment

neepheid

neepheidPosted on11:26 pm - Nov 2, 2015


Has Uncle Mike finally lost patience with King? And is that what King really wants? An easy way out, finger pointing in all directions as he walks away? 
Clearly Ashley now has his his hand poised over the big red button- will he push it? Or would he see that as letting King off the hook? Only Ashley knows.
We haven’t quite reached the last act in this long running panto, but maybe the end is now in sight. One thing is fairly certain, whatever happens- Ashley will come out on top, he is not about to be humbled by some no-mark like King.

View Comment

Avatar

nawlitePosted on11:38 pm - Nov 2, 2015


Could it be that Ashley is more annoyed by Houston and his SoS mob, with the stupid protests in his shops? Perhaps the talk of this ‘Cease and desist’ order in respect of the wallets has led people to conclude/hope that it also impacts the teams ability to play in branded strips?
He may still be allowing the team to play under the brand. I can’t see the board ignoring a ‘Cease and desist’ order despite all the other stupid things they are doing.

Thoughts?

View Comment

Corrupt official

Corrupt officialPosted on12:01 am - Nov 3, 2015


nawlite 2nd November 2015 at 11:38 pm
Thoughts?
—————————————————————————-
    On closer inspection of the letter, it would appear that Mick is holding Sevco responsible for the actions of Houston. Telling them to reign him in, or back him in court.
“please ensure that your client takes immediate action to defend this infringement.” 

    A sensible approach would be to offer an apology for the infringement, a guarantee of no further breeches, and a request for clemency for what is a charitable fund.
It’s either that or Mick will be after Houston’s Brillo-pads. 

View Comment

Avatar

John ClarkPosted on12:18 am - Nov 3, 2015


Has anyone been able to identify which Sky interview is the one during which King is alleged to have ‘breached the gagging order’?
The ‘wee wallets’ thing wouldn’t really relate to anything King was supposed to be ‘gagged’ from speaking about.
King must have said something during  whatever interview it was,  that he had agreed, or had been compelled to agree, NOT to say, about the various business arrangements entered into with Ashley/SD.

View Comment

Avatar

y4rmyPosted on12:18 am - Nov 3, 2015


The letter was sent on August 21st. Obviously just an amazing coincidence it’s been revealed now.
As Corrupt official has noted, the detail in the story is somewhat inconsistent with the slightly hysterical – and potentially libellous – headline. Tread carefully, Messrs Graham and Jack.

View Comment

Avatar

John ClarkPosted on12:28 am - Nov 3, 2015


y4rmy 3rd November 2015 at 12:18 am
‘..The letter was sent on August 21st.’
_______
I’m in the dark. Which letter, please?

View Comment

Avatar

Bryce CurdyPosted on12:34 am - Nov 3, 2015


Fascinating times, and to add to the intrigue latest EBT appeal decision to be announced Wednesday lunchtime. HMRC apparently not confident.

View Comment

Comments are closed.