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.

Keith Wyness said that I think.

 

Please don't drag my wife into this. 

 

Aye, it was Big Keef and I think it was something along the lines of lifting their skirts.

 

I'd be unlikely to drag your missus any place, my motor just hasn't got the torque mate.

Aye, it was Big Keef and I think it was something along the lines of lifting their skirts.

 

...to any passing league. Or something like that.

BBC have hold of emails which set out the deal between Whyte and Duff & Phlaps in the days leading up to going into administration. Revealing the details at midnight.

BBC have hold of emails which set out the deal between Whyte and Duff & Phlaps in the days leading up to going into administration. Revealing the details at midnight.

 

This might just about do it, they have had too close a relationship and D&P might not get away wi this one.

why would the bbc wait till midnight? why not release it to FIFA or UEFA and get this club thrown out of Scottish football once and for all  >

 

Stops the tabloids etc getting it into their first editions?

Some sort of legal clearance comes through when the clock strikes 12?

 

I have to admit, even despite it being a paltry 9p in the pound "best-case", the creditors would be mental to turn it down, because with the big tax case around the corner, figures for which are not included within the creditors list, it is highly likely that RFC will have more crippling debt to come, with a very strong likelihood that they come out of admin in July/August, and be back in again this time next year.
 
How much is the reported figure that they owe for the big tax case?  Wasn't the total debt reported to be £130m, with something like £75m wrapped up in the taxes owed (and therefore the creditors list amounts to £55m)? No person of sane mind would take on RFC in their current state, where will the unearth £75m from?  Where will they even unearth £15m if HMRC accept 20p in the £?
 
As I've said countless times, and I'm not even speaking through red-tinted specs here (well, not much), this is typical Scottish football traditionalism for traditionalism's sake.  If Rangers FC were a retail business, like Woolworths for example, nobody would've come near them.  Guys like Paul Murray, Brian Kennedy, Bill Ng, Bill Miller, Charles Green, they are all only in it for the halo effect.  You only need to look at the sycophantically enshrined bunch of bams that were the Blue Knights who wanted to appear to be riding in to save the day.  This is the business of where there's a will there's a way and all that.  But that will is stretched to the limit by emotion and egotism.  Rangers FC need to be left to die and deal with the consequences.  Even if they survive this admin and the big tax case, they should not be in a position to win an SPL title for up to a decade.  It is a pointless exercise to put the club through so many years of pain just to keep a hold of their past glories, which is the only thing worth salvaging for them.
 
Was it Gerry McNee that historically described Celtic and Rangers as two old slappers dropping their drawers doon Sauchiehall Street?  Never a truer word.  Rangers is a whore, a dirty, filthy, disease-ridden old hag with too much to say and too many tricks up her sleeve not to survive.

 

I may be wrong but is the BTC not included in the CVA as TBC.  I think this proposals encompasses all debts including the BTC hence the predictions of between 2-9p in the £1.  The only creditors that matter are HMRC and Ticketus, it is irrelevant whether the others vote for the cva or not, as even if they all agreed their % share of the debt is below 25%. 

 

The benefit of agreeing the cva is that if you believe the D&P figures it is a better deal than NewCo or out-right liquidation.  It is up to HMRC and Ticketus whether  they believe the figures but with the NewCo figure predicated on Green buying the assets for £5.5M and some other apparent cooking of the books according to RTC (which I don't really understand) I'm not sure they will accept them.

 

http://www.bbc.co.uk/sport/0/scotland/18269245

http://www.bbc.co.uk/sport/0/scotland/18269245

 

100% correct.

 

He must be an actor, not a SPL chairman.

The more things change, the more they stay the same:

 

http://news.google.com/newspapers?id=fvY-AAAAIBAJ&sjid=aU0MAAAAIBAJ&pg=3550%2C2109541

100% correct.

 

He must be an actor, not a SPL chairman.

 

Maybe, just maybe, the chairmen are realizing just how strongly the fans feel about this and are adjusting their views in accordance.  Losing 50% of your home gate will be way more of a financial hit than losing the huns from the spl

 

I fully accept this may just be wishful thinking but, regardless, this is a positive sign.

BBC have hold of emails which set out the deal between Whyte and Duff & Phlaps in the days leading up to going into administration. Revealing the details at midnight.

 

Perhaps not.

Perhaps not.

 

Nothing spectacular, D&P apparently provisionally agreed to cap fees at 500k but have replied saying that related to a specific scenario.

Nothing spectacular, D&P apparently provisionally agreed to cap fees at 500k but have replied saying that related to a specific scenario.

 

I have no idea what happens if the admins are deemed not fit and proper to be admins charged with cleaning up after a not fit and proper person who took over from a not fit and proper person...presumably nothing

 

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-18268346

 

"Insolvency expert Roger Isaacs told the programme that the emails amounted to "one of the starkest conflicts of interest I've ever seen"."

Nothing spectacular, D&P apparently provisionally agreed to cap fees at 500k but have replied saying that related to a specific scenario.

 

Yeh a big let down. I was hoping it would be the other way and show that D&P were going to purposely drag it out for as long as possible.

They definitely have but it looks like the beeb are struggling to get cast iron proof despite the overwhelming whiff of shite surrounding Whyte and D&P's relationship.

I see rangers (ia) have finally handed over the relevant documents to cockwomble's enquiry into double contracts, just 3 months after being asked to.

Wonder how many pages are missing or have been edited with photoshop??

Ho Hum

 

http://www.bbc.co.uk/sport/0/football/18270735

 

Ho Hum

 

 

Aye but:

 

"The right of appeal is now open to the Scottish FA through the Court of Session. However, by so doing, the very principles on which the Scottish FA - and, for that matter, Uefa and Fifa - are founded, namely football disciplinary matters being dealt with within its own jurisdiction, would be fundamentally compromised.

 

"Therefore, it is our intention to accede to Lord Glennie's request and refer the matter back to the appellate tribunal, which will consider the remaining sanctions open to it."

 

Basically means that they'll just give the appellate tribunal the chance to hand out the alternative punishments that the C of S pointed out they were entitled to, i.e. explusion.

 

Whether they actually take that chance though...

Not sure how the new SFA hearing is going to tie into things but, since the CVA decision is supposed to be on June 13/14 (?), and the SPL's legal team are providing an update to the SPL Board on June 18, I suppose they need to have their new hearing by the end of the first week in June, otherwise the CVA agreement will surely be postponed...would HMRC allow that?

 

I guess the 2012/13 season's make-up could be announced 3-4 weeks from now, depending on whether the SFA expell them from the Scottish cup etc, and what the creditors' dis/agreement/postponement does for HMRC.

 

If there is a CVA then it comes down to the SPL board's decision a week or so later. Water-down the punishment, strip them of trophies, or expel them?

 

HMRC surely won't hang about. If there is a rejection of the CVA and no more outrageous delaying tactics I can't believe they wouldn't be liquidated by early July. So then it comes down to the SPL/SFA treatment of a newco.

 

I wonder how long until someone suggests delaying the start of the season.

 

Cock Womble on tv just now. Basically refusing to answer anything and hiding behind the rules. BBC guy ripped the piss out of him. What I took from his interview is that Huns will be in SPL no matter what occurs.

Cock Womble on tv just now. Basically refusing to answer anything and hiding behind the rules. BBC guy ripped the piss out of him. What I took from his interview is that Huns will be in SPL no matter what occurs.

 

I think the SFA are going to fuck them.  I reckon they'll be given a suspension; in turn, they'll not be able to play any SPL matches (SFA provide the refs, can't ref a game involving suspended club) until they prove they can satisfy the conditions set by the SFA. 

 

The COS decision is probably the worst possible decision if you are a hun bastard.  Apparently - in other bad news for the vermin - Doncaster has breached the patience and confidence of the SPL chairmen.  I really wouldn't worry about his statements; the SFA are likely to take any meaningful decision out of his incompetent hands.

 

I hope.

Rangers stars' minimum release clauses kick in

http://www.bbc.co.uk/sport/0/football/18288091

 

hope they are all pinched from Gers to other clubs as they have done over the years to Scottish teams

Fifa have been in talks with the SFA over the huns situation and they are on-going. They hope to release a statement later today.

I think the SFA are going to fuck them.  I reckon they'll be given a suspension; in turn, they'll not be able to play any SPL matches (SFA provide the refs, can't ref a game involving suspended club) until they prove they can satisfy the conditions set by the SFA. 

 

The COS decision is probably the worst possible decision if you are a hun bastard.  Apparently - in other bad news for the vermin - Doncaster has breached the patience and confidence of the SPL chairmen.  I really wouldn't worry about his statements; the SFA are likely to take any meaningful decision out of his incompetent hands.

 

I hope.

100% agree with this, "be careful what you wish for" is the obvious phrase that spirngs to mind for Rangers - a transfer embargo is small-fry compared to the alternatives.  DOncaster's ramblings show up just how utterly and pathetically toothless the SPL organisation is, and this whole mess should be a watershed moment in terms of modernising the entire set-up of the game in this country.

 

The thing that I don't get is, is the SFA is the body which holds the registration of players in this country, I don't understand how that body cannot lawfully withold registrations, in other words, they have the ultimate authority to sanction player transfers in an indirect manner.

100% agree with this, "be careful what you wish for" is the obvious phrase that spirngs to mind for Rangers - a transfer embargo is small-fry compared to the alternatives.  DOncaster's ramblings show up just how utterly and pathetically toothless the SPL organisation is, and this whole mess should be a watershed moment in terms of modernising the entire set-up of the game in this country.

 

The thing that I don't get is, is the SFA is the body which holds the registration of players in this country, I don't understand how that body cannot lawfully withold registrations, in other words, they have the ultimate authority to sanction player transfers in an indirect manner.

 

are player regestrations not held by the spl? i was under the impression that was what the withholding of docs was about. it is all ridiculously intertwined and labyrinthine in terms of the paper trail mind you, so i am not sure!