http://scotlandonsunday.scotsman.com/football/Sale-of-Rangers-FC-39will.6650410.jp

 

Quote

Sale of Rangers FC 'will go ahead by mid-January'

 

Published Date: 05 December 2010

By Tom English

 

A DEAL to sell Rangers Football Club to Scots venture capitalist Craig Whyte will go though by the middle of January, according to senior sources at the club.

Whyte, 39, met with Ibrox chairman Alastair Johnston in Glasgow to discuss the purchase of Sir David Murray's shareholding in the club.

 

The proposed £33 million deal will wipe out the existing debt that has stymied Rangers in the transfer market for two years.

 

Yesterday, sources at Rangers said the deal, barring any late hitches, could be completed before Christmas but it is more likely that it will be done by the middle of January. "We can't say with 100 per cent certainty, but Whyte has the money and is very convincing. We think the deal will happen," said the source.

 

Murray has presided over Rangers for 22 years but has been keen to sell his stake for some time.

 

Hopefully the debt thing is not true as that is what is holding them back at the moment.

He has a dick?

SPL PROPOSALS

 

    Minimum of 15 points deducted from any club entering administration

    10-point penalty for two seasons for any club that transfers its share in the SPL to a new company

    75% reduction in payments to any club relaunched as a new company for a period of three seasons

    Requirement for clubs to pay players on time and to report any failure to pay wages

    Requirement for clubs to report any failure to pay PAYE/NIC

    Player registration embargo imposed on any club failing to pay PAYE/NIC

 

http://www.bbc.co.uk/sport/0/rugby-union/17681268

 

Rangers could start the next two seasons with a 10-point deduction, if they are relaunched as a new company.

 

The Scottish Premier League will consider new proposals for financial fair play at a meeting on 30 April.

 

Currently in administration, Rangers face potential liquidation and may transfer their assets to a 'newco'.

 

Rangers' administrators Duff & Phelps say the announcement of the new proposals has caused "a delay in the sale process".

SPL PROPOSALS

 

    Minimum of 15 points deducted from any club entering administration

    10-point penalty for two seasons for any club that transfers its share in the SPL to a new company

    75% reduction in payments to any club relaunched as a new company for a period of three seasons

    Requirement for clubs to pay players on time and to report any failure to pay wages

    Requirement for clubs to report any failure to pay PAYE/NIC

    Player registration embargo imposed on any club failing to pay PAYE/NIC

 

http://www.bbc.co.uk/sport/0/rugby-union/17681268

 

http://www.donstalk.co.uk/messageboard/index.php?topic=15317.0

 

Thought it deserved it's own thread, covering as it does the Rangers thread, the Major Reform thread and the spl are total cunts thread

Paul Clark, joint administrator, said: “As administrators we had hoped to announce today the acceptance in principle of an offer for the purchase of Rangers Football Club, which would be followed by a period of exclusivity while due diligence is undertaken.

 

“Regrettably, this is not now possible as we were informed over the Easter holiday period that the SPL is proposing to consider at a general meeting on April 30, significant rule changes in relation to clubs which find themselves in an insolvency situation.

 

“The effect of such revised measures being considered at this juncture is that we, as administrators are duty bound to inform those parties who have submitted bids of the proposed resolutions the SPL intends to consider. Failure to do so would constitute material non-disclosure on our part, which is a serious matter.

 

“Inevitably, bidders are now considering this information and will have to take a view as to whether it will affect their individual bids as they now stand. The result is a delay in the sale process. We hope to receive feedback from bidders as soon as possible in order for us to take the sale process forward as quickly as we can.

 

“We fully respect the right of the SPL to review its own rules and regulations and will not comment on the detail of what is being proposed for the meeting on April 30 at this stage. However, the fact that such measures are being considered at such a sensitive point in the sale process at Rangers is disruptive and regrettable. We hope to issue a further update by the end of this week.”

From day 1 they've looked for any opportunity to delay this process.

From day 1 they've looked for any opportunity to delay this process.

 

From day one they have been waiting for the spl to pave an easy path for them to follow

There's a petition doing the rounds:

http://www.change.org/petitions/sfa-uefa-fifa-the-governing-body-of-world-football-stop-rangers-football-club-re-entering-the-spl-in-the-event-of-liquidation?utm_medium=twitter&utm_source=share_petition

 

THE RULES STATE THAT ALL CLUBS SHOULD PLAY BY THE FINANCIAL RULES

AND IN THE EVENT OF LIQUIDATION THEY SHOULD START AGAIN AT THE BOTTOM TIER OF THE FOOTBALL ASSOCIATION...

 

Have they got that right?

There's a petition doing the rounds:

http://www.change.org/petitions/sfa-uefa-fifa-the-governing-body-of-world-football-stop-rangers-football-club-re-entering-the-spl-in-the-event-of-liquidation?utm_medium=twitter&utm_source=share_petition

 

Have they got that right?

 

I would imagine so seeing as the (Scottish) Football Association don't have any "tiers" or leagues.  As I said on the other thread they can't be demoted to the "bottom tier" as the the bottom tier of the SPL is the SPL.

They either get kicked out or get let back in.  Where they go if kicked out is up to them and other league associations.

The whole thing has become tedious in the extreme.  I know rangers fans who're actually revelling in this now, and I'm becoming increasingly pissed off with the 'watp' tag attached to all their emails / texts etc.

 

One hun wrote "just because we're in a mess doesn't mean abuse from the fans of little clubs will go unchecked."

 

Basically, "we're bigger than all this" and "we'll come back stronger than ever", seems to be the party line from all the scummers.

 

And the sad thing is, they're probably right.

The whole thing has become tedious in the extreme.  I know rangers fans who're actually revelling in this now, and I'm becoming increasingly pissed off with the 'watp' tag attached to all their emails / texts etc.

 

One hun wrote "just because we're in a mess doesn't mean abuse from the fans of little clubs will go unchecked."

 

Basically, "we're bigger than all this" and "we'll come back stronger than ever", seems to be the party line from all the scummers.

 

And the sad thing is, they're probably right.

 

 

Fucking hell, that's cheered me right up! 

One thing I'm struggling with, if Rangers become a "newco" - who owns the ground?  I thought it would need to be sold off to clear the debt?

One thing I'm struggling with, if Rangers become a "newco" - who owns the ground?  I thought it would need to be sold off to clear the debt?

 

In a nut shell (as I understand it, and I don't) the newco is formed in order to avoid having to pay the debt? So the grun is owned by newco. I hope that's wrong.

The NewCo would buy the ground (if they wanted to) and other assets as these would be sold of as part of the liquidation process to pay off as much of the debts as possible.

I think.

How can Rangers newco have any money to buy things such as the ground? I guess it depends on a new owner investing his own money? Deja vu!

Rapid Vienna may appeal to Uefa if Rangers fail to pay the money due for Nikica Jelavic.

 

The Ibrox club signed the striker in 2010 and agreed to pay the £4m fee in instalments but Rapid are still owed just over £1m.

 

The Austrian club say they would not agree to a company voluntary arrangement that would guarantee only a fraction of the amount owed for the player, who has since joined Everton .

I made a post on FB a while back saying there will be some shit loophole or change of rules and business as normal would be resumed.

 

I think all of us saw it coming too.

 

Another petition:

 

http://www.petitionbuzz.com/petitions/norangersnewco

 

This petition will be presented to the SPL.

 

We, the fans and driving force of Scottish football do not agree that a 'New Co' Rangers should be granted entry to the SPL.

 

Rangers have cheated.  They have funded their way to titles and taken part in European competitions by ignoring the rules.

 

Rangers built up massive debts; lived well beyond it’s' means; distorted the ‘market’ of it’s own league and maintained illegal business practices for years.  They must not be let off with a slap on the wrist.

 

Rangers owe millions to HM Revenue and Customs (HMRC).  That means schools, hospitals and communities are losing out because of tax evasion on a scale of grand larceny.

 

Taxpayer-funded bodies are owed money! For example: Strathclyde Police (£51,882), Scottish Ambulance Service (£8,438), Culture and Sport Glasgow (£10,338), Glasgow City Council (£7,000), and others.

 

Rangers owe more than £2.3m to 12 football clubs in Scotland, England and throughout Europe, including Hearts, Dundee Utd and Dunfermline.

 

We urge you to see sense. Do not allow a ‘New Co’ Rangers back into the SPL.  It will embarrass Scottish football and leave thousands of fans isolated, alienated and disillusioned with the game.  Now is the chance to effect much needed change to our national sport.

Could have been worded a bit better than that could it not?

They paid Dunfermline weeks ago.

They paid Dunfermline weeks ago.

 

No the Fighting Fund donated some money to Dunfermline.  RFC (in admin) haven't settled any bill. 

Could have been worded a bit better than that could it not?

 

And a few Allegedly's thrown in for good measure!

Latest from Alex Thomson:

 

http://blogs.channel4.com/alex-thomsons-view/rangers-morality-repaying-owe/1114

 

 

Latest from Alex Thomson:

 

http://blogs.channel4.com/alex-thomsons-view/rangers-morality-repaying-owe/1114

 

Think it is worth posting in full:

 

OK. Just to get to some hard facts as the firestorm rages around the new SPL rule-change proposals.

 

Obviously this is being seen as a parachute back into the SPL for RFC, but in terms of cold, hard facts, away from the emotion, that’s not the way to see it because the parachute already exists.

 

SPL told me this morning (and I will get more from Mr Doncaster this afternoon) that the SPL board could simply vote a newco Rangers back into the SPL in theory, with no sanctions beyond the obvious ones arising from liquidation in terms of European competition etc.

 

To be clear: Rangers FC could be back in the SPL having paid nowt to the taxman and without the currently proposed sanctions to be voted on.

 

 

So in cold hard facts, the rule changes actually toughen things up for RFC – or anybody else – and not the other way around.

 

The wider morality of allowing such a newco anywhere near the SPL, having not paid the £75m owed to you, me and every other taxpayer, is a wider argument.

 

I can certainly tell you from conversations with the administrators and HMRC and Uefa that the very idea is not going to play well – and the SPL would do well to consider their wider constituency as their members approach the vote on this. If there is one story Uefa wants to tell you right now it is financial fair play.

 

And then there’s the HMRC and their “eleventh commandment”, quoted to me some weeks ago: “Though shalt not get away with it.”

 

Clearly any RFC parachuting back – and it is not a done deal, although the curious eight majority vote makes it a virtual cert (more on that from Mr Doncaster later I trust) – will involve a club that actually has to live in a more real world financially and actually think about paying back money it borrowed; not paying so much money it does not have; forgetting any notion of playing European football; losing matches with a depleted squad and very limited means to enhance it, and so forth.

 

Some might consider that adequate punishment for the sins of yesteryear and a new beginning now underway etc. Others will say getting away with not paying the millions you owe is a terrible precedent to set, not just for the governance of our football but for that of our very culture. My hunch is the latter will have the majority.

 

More from the SPL later in the day and – if Uefa can ever get back to me – the first of two blogs on political interference in Scottish football.

Fantastic. Rangers fans are threatening to boycott away games if these NewCo rules are brought in.

 

That should put any argument that clubs need their away fans to bed then. Enjoy Division 3 (after you apply for it with Cove Rangers).

 

http://sport.stv.tv/football/scottish-premier/rangers/303335-rangers-fans-group-threaten-away-boycott-if-spl-rule-changes-approved/

No huns in scotland, oh therz no hunz in sco- otland, oh therz no hunz in scotland!