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Big Rangers Administration/Liquidation Thread - All chat here!


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Cala Santanyi on Majorca..Lovely wee beach that i am going to lie on for 11 days and forget all this shit...Que Sera sera ;)

Don't bet on it. I'm going there too, so I'll be on the lookout for another pale skinned Scotsman and keep an eye out for the beach towel..... :)

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Can I get this straight - SPL clubs see potentially losing the club formerly known as Rangers and possibly some TV money as a bigger risk to their existance than the possibile consequences of relegation to the glamour of SFL1?

Because that's what is sounds like to me.

All Diddy clubs must have some fear of relegation each season and have some financial plan to cope. Surely? :o Surely!

Alternatively, Charles Green is stuffing brown envelopes with banknotes and doing a whistlestop tour of SPL chairmen.

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They won't...they just want to be able to cover themselves and say 'we told you the implications' when we have to sell Randolph/Hutchinson on the cheap to balance the books. Motherwell will vote no - anything else will f**k us overnight much more than a one season shortfall.

Hope you're right. Looks to me they're leaning towards YES.

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Every last one of them are wavering, never take anything said at face value.

When Airdrie tried to get in to the 3rd, every SFL Chairman was canvassed. If they had voted the way they said they would Airdrie would have strolled it. Obviously they didn't. I wouldn't trust a Chairman at any level further than I could throw him.

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Today's St Mirren and Motherwell BOD statements - cutting through them, one thing seems to be coming through loud and clear - the SPL... the clubs, Doncaster.... they are absolutely shiteing themselves at having to make a decision on anything to do with this. They probably kneel down and pray at night... 'Dear Lord, please let the SFA or UEFA make a decision so we don't have to. Thank you Lord. If you can't do that, could you arrange for a plague of locusts to descend upon the big house? Anything Lord, fire, flood, anything....'

Taxi for Doncaster.

Ineffectual, self-serving, spineless lickspittle. Good feckin' riddance. Worst chief executive in Christendom. Funny how we get all the shite admins in Banana Republic.

Still all quiet on the Chick / Jabba / Fat Sally / Wullie Pullar / Dodds front. Feck them too.

Sorry, ranting now. ;)

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From FollowFollow:

Postponement of Walter Smith march and rally<BR class="first-child nth-child-odd nth-child-1"><BR class="nth-child-even nth-child-2">After discussions with the police and others it has been decided to delay for the time being this Saturday's march and rally in support of the Water Smith led consortium.<BR class="nth-child-odd nth-child-3"><BR class="nth-child-even nth-child-4">The enormous numbers showing interest in the event, the geography of Ibrox and the problems of ensuring that any street procession was deemed illegal within the current legal framework has sadly forced the organisers to reconsider. <BR class="nth-child-odd nth-child-5"><BR class="nth-child-even nth-child-6">We will work with the police and others to find the best way for the thousands of Rangers fans who wish to show their feelings a chance to do so safely and in the best of order.<BR class="nth-child-odd nth-child-7"><BR class="nth-child-even nth-child-8">We have discussed this with the consortium and they are totally in agreement with the need to delay in order to allow for proper planning to take place.<BR class="nth-child-odd nth-child-9"><BR class="nth-child-even nth-child-10">This does not, however, in any way diminish our strength of feeling. We would urge Mr Green to step side.<BR class="nth-child-odd nth-child-11"><BR class="nth-child-even nth-child-12"><BR class="nth-child-odd nth-child-13">

Are they going to slay their first child instead?

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Guest Kincardine

Seen it on the Steelmen site ,well fans raging and rightly so , how can these directors types ignore the wishes of thier fans and expect it to turn out ok?

I think it's a pretty sane and balanced statement from Motherwell and sums up the issues fairly well.

I see nothing in that to rage about.

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Firstly, these players will be sold if someone comes in for them anyway, since when have SPL clubs held onto any decent player when the Championship comes sniffing?

Secondly, Motherwell are voting "yes" all the way, the statement falls short of just saying that. They don't give a f**k what the fans think, you'll be back next season regardless.

Oh aye, but allowing us making a loss last season (having not sold anyone) and a new shortfall this term, Hutchinson and Randolph will still bring in about £1.5m - we may not be able to invest that as we would have done otherwise but it will plug the gap.

You can read the statement as saying we'll vote yes, I think it reads much more like we'll vote no but this is what it means in real terms.

We'll see!

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:angry:

The Board at Motherwell FC today released the following statement in light of today's 'Newco' application to the SPL by Rangers FC.

"Confirmation has now been received from the SPL that an all club vote on the proposal to transfer Rangers share is scheduled to take place on 4th July. Motherwell FC are in the process of arranging a forum to discuss the issue with supporters of the club. Following that meeting, the board will meet and agree the club's position and ultimately how we will vote if the meeting takes place as planned.

"The decision will be taken by the Director's as a group, as the majority shareholding in the club is currently held under a Power of Attorney by Board members, pending the planned staged transfer to the 'Well Society. No decision has yet been made by the club on the SPL share transfer, as we will only now see the full details of the proposal and be provided with the full information required. Considerable uncertainty on the implications for revenues and costs complicates our decision considerably.

"The Directors would also like to clarify that the comments made by Director Andrew Lapping in a letter to a national newspaper are entirely personal and are not in any way attributable to the club. Mr Lapping has played no active role in the running of the club for many years and is not part of the decision making group.

"The 'Newco' issue is often portrayed as a straight choice between preserving sporting integrity and clubs accepting a reduction in gate money together with potentially a significant amount of commercial revenue. In reality it is far more complex than that. We are fully aware that an overwhelming majority of our fans and most others, who have so far expressed an opinion, are totally opposed to 'Newco' being allowed immediately back into the SPL.

"The club has been flooded with correspondence from supporters of many clubs which ranges from fully reasoned arguments to direct threats concerning the consequences of a vote either way. Our Board of Directors is predominately made up of lifelong Motherwell supporters and we fully understand that fans are the single most important group within the club. History shows that any business which ignores the wishes of its customer base rarely prospers in the long term.

"In any event it would appear a yes vote may not even guarantee that 'Newco' will play in the SPL next season as the club is still subject to SFA sanctions and there is an ongoing investigation into the use of EBTs to make payments to players.

"The consequences of five or more clubs voting no to 'Newco' do also need to be understood and fully taken into account. In addition to lower gate receipts, we are likely to lose an as yet un-quantified amount of commercial revenue with a specific risk around TV payments. The clubs' income from SPL distribution of commercial revenue was approximately 36% of the total amount generated last season, although this does vary year on year. A significant proportion of SPL income is obtained from TV and other broadcasting rights. The lack of clarity on what the actual impact of 'Newco' not playing in the SPL will have on these revenues is a major problem for the Board.

"Despite some reports, it is our understanding that Sky/ESPN have made no official statement on how they will react to a no vote and we believe that a number of other contracts could be re-negotiated if 'Newco' was refused entry to the SPL. We very much hope that sponsors and partners will continue to provide their backing whatever the outcome of the various ongoing processes.

"The common response to the potential loss of revenue is that clubs need to cut their cloth accordingly. Of course this could be achieved over a period of time, by reducing both on and off the field costs, but it cannot be done overnight. It is vital that we honour player and employee contracts and meet all our other obligations.

"We are in the healthy position of having no debt but have set our cost base in the expectation that income will be at a certain minimum level. In the event of a shortfall we do not have a bank or benefactor able to fund the gap. We clearly do not wish anyone associated with Motherwell, or any other club, to suffer as a result of events in which they played no part. Having been though a painful Administration process many years ago, we are also better placed than most to have sympathy with both the employees and ordinary fans of Rangers who are in no way responsible for the uncertainty they are facing.

"The Directors of any business have a duty to act in the best interests of the company or, in this case, the club. In normal circumstances, decisions are fairly straightforward but in this situation a decision either way is likely to have a significant impact on at least one of our key income streams. It is inevitable that there will be consequences if a business suffers a sudden drop in income. Instead of the usual process of deciding what is best for the club, we are currently faced with trying to decide on which is the least worst option. The stakes here are high.

"There are a number of other knock on impacts to this lack of certainty. Firstly we have temporarily delayed giving the club any access to the 'Well Society funds. When we launched the Society we made it clear that we would not put the funds raised at risk and that they would be used only to assist with short term funding requirements at the club, when there was a clear source of repayment. In the current circumstances we believe that we can only fully protect the money raised by keeping it entirely ring fenced from the club until the outcome of the 'Newco' debate is known and the financial impact understood.

"In addition we will need to adopt a cautious approach to investing in the playing squad. To date we have not changed our previously agreed plans but this could change dramatically in the current weeks. The inability to accurately forecast future income could also impact on the production of our financial accounts.

"By any measure the events at Rangers are having and will continue to have a huge impact on Scottish football. It is our hope that the tax authorities and liquidator will investigate these events fully and are able to take appropriate action against those responsible for causing lasting damage to our national game.

"Whilst we fully understand that the 'Newco' issue is one which many people feel strongly about, we hope that our fans now have a better idea of the extremely difficult position the club is in and that you continue to offer support by buying season tickets and, if you have not already done so, joining the Well Society which remains very much part of the club's plans for the future.

"We can assure you that any funds raised by the Society will remain separate from the club, until the position is clearer, but we remain totally committed to the fan ownership model. Whatever the outcome of the vote on 'Newco' it will be more important than ever that our fans stay loyal to the club, as we look forward to our debut in the Champions League, and that our efforts to grow the fanbase continue to be successful.

"On the pitch, these are very good times at Motherwell FC and it is vital that we continue to work together as a club to enable us to emerge from the current SPL difficulties with our integrity and optimism intact."

That`s a first for Motherwell then.

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When Airdrie tried to get in to the 3rd, every SFL Chairman was canvassed. If they had voted the way they said they would Airdrie would have strolled it. Obviously they didn't. I wouldn't trust a Chairman at any level further than I could throw him.

Same.

I've listened to the mouthpieces at St Mirren, Caley, Dundee Utd etc bumping their gums loudly in the last 12 months only to backtrack when a vote is taking place.

If Steven Thompson shook my hand I'd count my fingers.

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Guest Kincardine

From FollowFollow:

Postponement of Walter Smith march and rally<BR class="first-child nth-child-odd nth-child-1"><BR class="nth-child-even nth-child-2">After discussions with the police and others it has been decided to delay for the time being this Saturday's march and rally in support of the Water Smith led consortium.<BR class="nth-child-odd nth-child-3"><BR class="nth-child-even nth-child-4">The enormous numbers showing interest in the event, the geography of Ibrox and the problems of ensuring that any street procession was deemed illegal within the current legal framework has sadly forced the organisers to reconsider. <BR class="nth-child-odd nth-child-5"><BR class="nth-child-even nth-child-6">We will work with the police and others to find the best way for the thousands of Rangers fans who wish to show their feelings a chance to do so safely and in the best of order.<BR class="nth-child-odd nth-child-7"><BR class="nth-child-even nth-child-8">We have discussed this with the consortium and they are totally in agreement with the need to delay in order to allow for proper planning to take place.<BR class="nth-child-odd nth-child-9"><BR class="nth-child-even nth-child-10">This does not, however, in any way diminish our strength of feeling. We would urge Mr Green to step side.<BR class="nth-child-odd nth-child-11"><BR class="nth-child-even nth-child-12"><BR class="nth-child-odd nth-child-13">

Learn <BR class="first-child nth-child-odd nth-child-1">< to "><BR class="nth-child-odd nth-child-13"> cut <BR class="nth-child-odd nth-child-5">< and paste <BR class="first-child nth-child-odd nth-child-1"><

Ya fanny.

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So when can the mighty buddies add the CIS Cup 09/10 to their list of honours?

time to disagree with a st mirren fan but I suppose it had to happen sooner or later.

just leave the 'old' rangers with all their trophies - an asterisk alongside each, noting how they cheated to win them, will suffice, and be there for eternity for everyone to see.

by doing that, then the 'newco' will have to accept what they are - a 'NEWCO', with no trophies and and no history

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For the demon shall bear nine-newcos. Nine-newcos! Not two or five or seven, but nine, which he will wield on all wretched diddies, diddies just like you, sir, there, and the horns shall be on the head, with which he will...laugh.gif

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Learn <BR class="first-child nth-child-odd nth-child-1">< to "><BR class="nth-child-odd nth-child-13"> cut <BR class="nth-child-odd nth-child-5">< and paste <BR class="first-child nth-child-odd nth-child-1"><

Ya fanny.

Good post.

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time to disagree with a st mirren fan but I suppose it had to happen sooner or later.

just leave the 'old' rangers with all their trophies - an asterisk alongside each, noting how they cheated to win them, will suffice, and be there for eternity for everyone to see.

by doing that, then the 'newco' will have to accept what they are - a 'NEWCO', with no trophies and and no history

Too right, I'll stick to the Killie firing WFAANW at us rather than getting a League Cup donkeys ago.

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