hamish_ict Posted June 12, 2012 Share Posted June 12, 2012 Despite all the happiness going around, the BBC attributed this to Green The solemn promise I can make to Rangers fans today is that this Club will continue as Rangers Football Club and will continue to play at Ibrox Stadium. Can someone cheer me up by explaining why he can't? H&D seem sure that his agreement is binding. If that's the csae it'll be the same old orcs, but without the financial baggage. Granted we'll be able to laugh at them, kinda, but they'll still be 2nd in the league and nothing will seem any different. *sigh* 0 Quote Link to comment Share on other sites More sharing options...
mgm Posted June 12, 2012 Share Posted June 12, 2012 rangers whatever would walk the sfl leagues. Gretna pished div2 & 3 then just won 1st with journeymen pros and young guys. Newco would have far bigger resources than them. 0 Quote Link to comment Share on other sites More sharing options...
No8. Posted June 12, 2012 Share Posted June 12, 2012 hahahahaha w**k w**k w**k - go tell it to FFF Remember...Russia....You might be able to buy McGregor and Naismith with your winnings Anyway i hope you all enjoy youself tonight...Hope your ice cream melts and your jelly doesn't set. I am away to get absolutely blootered and watch the Euros. 0 Quote Link to comment Share on other sites More sharing options...
Gareth_Glasgow Posted June 12, 2012 Share Posted June 12, 2012 (edited) ^^^ Trying too hard Just relax and enjoy it mate. Says the "new poster" with an Enrico Anconi rip-off avatar and 51 posts today. Edited June 12, 2012 by Gareth_Glasgow 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted June 12, 2012 Share Posted June 12, 2012 Anyone know how long liquidation takes? STV are claiming that Oldco Rangers would have a vote to say whether the Newco would be allowed in the SPL. Surely not?!? 0 Quote Link to comment Share on other sites More sharing options...
WeeHectorPar Posted June 12, 2012 Share Posted June 12, 2012 "Rangers fans feel they have been treated harshly by HMRC" how? They're taxing loyalty. Not on! WWTP 0 Quote Link to comment Share on other sites More sharing options...
HibeeJibee Posted June 12, 2012 Share Posted June 12, 2012 If the rumours about the proposed deal are true, I think it could be unanimous (except for possibly Celtic). If the conditions are a change from 11-1 voting and shared gate receipts, the Other 10 get all the benefits of Rangers being kicked out (because the New Rangers will be financially crippled and uncompetitive), plus they get to keep the Sky deal and they get a bunch of extra money from sharing the receipts of games at Ibrox and Parkhead. Celtic get screwed somewhat by that deal, but (a) boo fucking hoo - they've been screwing the Other 10 for 13 years, and (b) they'd be outvoted. Clubs won't vote for sharing gates there's no way the likes of Hearts, Aberdeen, Hibs etc. are going to start giving money to the wee teams. But they definetely do want a smoother share of prizemoney. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted June 12, 2012 Share Posted June 12, 2012 I bet over the next few days the SPL chairmen will be on the 'phone to each other like wee schoolboys "How are you gona vote? E'll vote no if you vote no. How de ye think that p***k Johnston will vote. Meh bank manager says he's gona tak the huff if we dinna vote yeah." 0 Quote Link to comment Share on other sites More sharing options...
ray_of_licht Posted June 12, 2012 Share Posted June 12, 2012 Alright, which one of you lot got bored on RM and decided to text the BBC Sportsound thing to liven things up? Ian in County Down: "The newco must be in the SPL. Any clubs who decide to vote against Rangers are cutting off their nose to spite their face. The recent humiliation has been a humbling experience for Rangers and more than enough of a punishment." 0 Quote Link to comment Share on other sites More sharing options...
TheScarf Posted June 12, 2012 Share Posted June 12, 2012 Whoever is typing the updates on the stream on the BBC is clearly swimming in tears. There's an entry from about an hour ago regarding how McCoist is going to cope with no players and no European football next season. Proper 'Won't someone think of the children!' stuff. 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted June 12, 2012 Share Posted June 12, 2012 The club who have acquired the name Rangers will stroll through the lower divisions and will be able to out spend any of their opponents. To suggest otherwise is just madness. Rangers were officially the best supported club in the early 80s Crowds were never under 10,000 on a regular basis. There was the odd League Cup section game where Ibrox crowds were under that mark but it was hardly a regular occurence. Those were different times when Football crowds were at a particular low for various reasons Corrected for you, how are they going to stroll through the lower divisions? All the old Rangers' player's contracts are now void and they can sign for who they like for free. Who are the zombie Rangers going to attract to play for them in division 3 (should they get get through the SFL application process)? Gretna tried to do what you're next club have in front of them, they bankrupted themselves. If Green goes ahead with his takeover he has got to convince his backers to invest in a club which are banned from European competition for 3 years, who still have a tribunal to face which may see them suspended from football but at the very minimum removed from a revenue stream for at least 1 season and who are now reliant on the current SPL chairmen to allow them into the league, I think your fans have fvcked themselves up in that score with the threatened boycotts, I really cannot see the Green Brigade throwing money at this hole. 0 Quote Link to comment Share on other sites More sharing options...
sergie's no1 fan Posted June 12, 2012 Share Posted June 12, 2012 Whoever is typing the updates on the stream on the BBC is clearly swimming in tears. There's an entry from about an hour ago regarding how McCoist is going to cope with no players and no European football next season. Proper 'Won't someone think of the children!' stuff. Thats got Chick Young written all over it, if it wasn't for the fact he committed suicide earlier. 0 Quote Link to comment Share on other sites More sharing options...
Pull My Strings Posted June 12, 2012 Share Posted June 12, 2012 You can, because it's null and void if D&P promised things they had no authority to deliver. If they're not the liquidators, they can't dictate any terms of liquidation, end of. Behave yourself. At the time of contracting they had statutory authority to contract on behalf of the company which they did. Green paid £200k up front for that deal. It would certainly be open to creditors and/or the liquidator to challenge the contract (on what grounds, it's not clear) but there's currently a contract for sale. To suggest that they are dictating the terms of liquidation is just silly. 0 Quote Link to comment Share on other sites More sharing options...
Green&White Zebra Posted June 12, 2012 Share Posted June 12, 2012 Has the fabric of Scottish society started to unravel yet ? I'm an exile and I need to know if there will be a homeland to come back to ! 0 Quote Link to comment Share on other sites More sharing options...
DXBBud Posted June 12, 2012 Share Posted June 12, 2012 Ian in County Down: "The newco must be in the SPL. Any clubs who decide to vote against Rangers are cutting off their nose to spite their face. The recent humiliation has been a humbling experience for Rangers and more than enough of a punishment." - taken from BBC Rangers in Crisis. There are none so blind as those that do not want to see!!!!!!!!! HMRC are hunting senior orcs, decisions remain on the CoS action, EBTs and straight forward non payment of tax deducted at source. Laws have been broken, HMRC's intentions are clear, legal action will follow for individuals representing the club behind this which has benefited from cheating, and they think that public humiliation is sufficient punishment. You only have to read a cross-section of the post on here from Rankers fans to gauge the level of logic that goes into their blind faith. A bit of humiliation would very quickly be forgotten by the orcs as they try to remember how to count past 54. 0 Quote Link to comment Share on other sites More sharing options...
meanmistermustard Posted June 12, 2012 Share Posted June 12, 2012 Happy Happy Happy. :rolleyes: :rolleyes: :D :D Delighted is not enough. They might come back stronger in a few years but this gives Scottish Football a chance to change for the better by splitting the OF grip who were blocking everything. Celtic have lost their best pal. All i need now is the SPL to grow some balls, vote no to the newco, and boot them down the leagues. Bye McGregor, Naismith at al and enjoy life in England. Where is the party being held? Ibrox? :) 0 Quote Link to comment Share on other sites More sharing options...
HibeeJibee Posted June 12, 2012 Share Posted June 12, 2012 I have a question actually, now the CVA was going to be funded with what was effectively a loan, but surely they can't buy £5.5 million pounds worth of stadium and training centre with a loan? Do they not actually have to produce hard cash for this? How is a loan not cash? If someone wants to but the assets and does so by obtaining a loan then it means exactly the same to the creditors than if someone had the money sitting in a bank account? 0 Quote Link to comment Share on other sites More sharing options...
ray_of_licht Posted June 12, 2012 Share Posted June 12, 2012 From the D&P statement The club will continue to operate as it has always done but within a new company structure. Would it not be better to find a new way to operate given the bother they find themselves in now? 0 Quote Link to comment Share on other sites More sharing options...
unterwasser Posted June 12, 2012 Share Posted June 12, 2012 Has the fabric of Scottish society started to unravel yet ? I'm an exile and I need to know if there will be a homeland to come back to ! Other than some fighting in Tesco's to get the last Ben & Jerry's and Hartley's jelly it all seems quiet around here. 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted June 12, 2012 Share Posted June 12, 2012 If the SFA were to offer £4m-£5m for the training facility on it's own, it would likely pre empt a creditors challenge as it would be clear they could get a far better return by refusing to deal with Green only. Yes, maybe. But the point is still valid, there will be no fire sale, as things stand Eh? Where are you getting that from? The newco doesn't exist yet, and any attempt to transfer assets to it in the meantime would be spectacularly illegal (counts as "putting assets beyond reach of creditors"). Err, from D&P - its in the CVA and theyve been bumping on about it for weeks now. Even today, thats what they are saying will happen. So, until something changes, why would we not presume it will happen? A number of consequences of liquidation: 1) All players are effectively free agents. You cannot be forced to transfer to Newco 2) I cannot see why the liquidator will be bound by a deal concluded by the administrators five minutes before the liquidator is appointed. It may be though that BDO have had a look at the deal and will let it stand but then again, why would they when all the money is to pay Duff and Phelps? 3) S216 of the Insolvency Act says that Newco cannot have a name so similar as to suggest a relationship with the old company without the leave of the court. In practical terms, the liquidator may be prepared to sell the name or alternatively, it might be in the deal already done. One way or another, the leave of the court will be required There is also grave doubt about Greens ability to fund Newco and I would expect that the football authorities will require similar guarantees from Newco about being able to fulfil their fixtures as they wanted from Livingston and Gretna. Like those two clubs they are unlikely to get them and so Rangers should suffer the same fate - relegation to the third division. Its all good news probably for Dundee but maybe Dunfermline plus I would have thought that the losing play off finalist from the lower leagues will now step up. Don't think they will have been sold, simply transferred, but the players can refuse the transfer if they wish. They will be free agents. The only players who'll allow this to happen are the one's without any real value. Naismith, mcgregor and the rest of the big earners will run like the wind , why would they move to the newco to be sold when the can pocket that cash themselves, you won't see them for dust. Again, as has been said before, the employment contracts are covered by TUPE. Theyre player registrations are not. In the CVA, Green is buying the players, goodwill, intellectual property rights and stock for £5.5m. Is it that simple? I dont know. Is it 100% certain they can just walk away? No. If Whyte has a floating charge (or his dads company does) over Murray Park & Ibrox, then surely it is he, and he alone that will get the income first for the asset sale ? I think there is still a long way to run to get a newco setup and Whyte is still a player. Can anyone shed any light on the floating charge issue ? It seems to have been forgotten in all this but seems important Again, as I said before, there is no value attached to the property under the newco route. So, it would seem Green isnt actually buying the property. Simple explanation? Or linked to Whyte and his floating charge? 0 Quote Link to comment Share on other sites More sharing options...
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