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Big Rangers Administration/Liquidation Thread - All chat here!

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Contracts cannot be reneged if you get relegated as well.

Self Preservation League indeed.

Relegation wage dropping clauses kick in though, and the better players (and presumably better paid players) will want to leave.

There's no "Rangers or Celtic liquidated" clause in the current contracts.

Edited by madwullie

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Who casts the Rangers (oldco) vote on the 4th July? Is it Duff & Phelps?

I just can't understand what they would base their vote on, as they have no vested interest at all in SPL/SFL/Newco - they are only the administrators of the Oldco. Why should they vote at all? Or maybe I'm thick.... :huh:

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Rangers fans who read the Evening Depressed*.

*For those not from Aberdeen, the headline each and every day is usually 'man killed in [car / motorcyle] accident near [insert placename]

it may be usefull to point out that the same fans may read the depressing journal (another rubbish paper with numerous accidents and pet doom)

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What is the record for number of greenies awarded? This one is at 70.

How many of the 70 realised that statue is a memorial to the 66 football fans that lost their lives on the 2nd of January 1971?

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We don't do information and updating our fans. The last press release from the McDairmid media centre was the special menu for Mothers Day lunches.

Link? :ph34r:

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Dear Shareholder/Season Ticket Holder,

There are three options to which you should respond

1 - YES - the "New" Rangers FC should be admitted to the SPL in order to avoid the SPL being in breach of its contractual obligations to "Sky" and other commercial partners

2 - NO - the "New" Rangers FC should NOT be admitted to the SPL under any circumstances, regardless of the consequences for Kilmarnock

3 - YES - subject to the "New" Rangers FC accepting a range of sporting and financial penalties (short of exclusion from the SPL) for the wrongdoing of the owners of the "Old" Rangers FC AND undertaking to support reform of the SPL's voting structure, the "New" Rangers FC should be admitted to the SPL.

Please include 1-YES or 2-NO or 3-YES in your subject heading which will help us to evaluate the responses

Yours sincerely,

Michael_Johnston_Signature.1.jpg

Michael Johnston,Chairman,

Kilmarnock FC

League Cup Winners 2012

I think we are all capable of working out by now that voting, "No" will have serious financial consequences for every SPL club and may result in administration for one or more. I emailed my club and the board and did not renew my season ticket until a statement was made. I am prepared to contribute more in terms of merchandise, Arabtrust, United for Kids etc and I am also prepared to do what was suggested on this site and buy something from the club shop of every club who votes, No". Kilmarnock will not die if all SPL fans are prepared to put their money where their mouths are and help keep their clubs alive. If Kilmarnock or United or any other club go into administration as a result of this, we can at least be assured that it did not happen due to the wrongdoings of their respective boards. Our support will help our clubs through administration and beyond at whatever level that is. And with respect, Mr Johnston, there were Killie fans long before you got your sticky paws on the club and there will still be Killie fans long after you are dust. They are what makes the club, not you and not the the Old Firm sycophants of which you clearly are one.

Edited by Geefoxer

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teeheehee (unsure if posted before, hard to keep up)

An Open Letter To All Rangers Players

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Details Published on Sunday, 24 June 2012 08:26 Written by croatianbicycles ibrox_200_200.jpg

An open letter to players of Rangers Football Club,

First of all, I’d like to thank each and every one of you for the sacrifice you have made over the past four months. It truly is commendable.

The past few months have been tougher times than any for me as a Rangers fan. Although I’m of the younger generation, I’m sure many of the older generation will agree with me.

With the transfer over to the newco, we leave behind Rangers Football Club PLC, formed in 1899, but not Rangers Football Club, formed by four young men in 1872. It is the football team formed by the Gallant Pioneers that has gone on to set world records, win league titles- have the great success that we’ve enjoyed over the years. All of which will remain part of our proud history. The transfer to newco allows Rangers to start a new chapter in the novel. Not a new novel, but the same one, started in 1872- 140 years ago. The novel will continue for more than 140 years, I can assure you of that.

We’re currently in a predicament in regard to what division we’ll be playing in, which is not ideal for anyone. But why not stay? See what the outcome is? Make history! Go down as true Rangers legends. Be remembered alongside the famous nine-in-a-row team, the ECWC team of 1972, heck you might even be remembered more fondly. The players that fought for Rangers, took them back to where they belong: at the top of the Scottish game.

As I mentioned earlier, I’ll thank you for the past four months. I’ll try my best not to hold any grudges as you depart the greatest team you’ll ever play for. But I’d rather, if you do choose not to fight for our club, to sign for the newco. This at least gives the club some money. It might go to debts or it might help your manager Ally rebuild the squad. Help Rangers move on, for the better.

If you stay, you will forever be Rangers legends.

Yours in football,

Alex

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Administration is nothing to do with the actual size of the debt - it's the ability to service it and, importantly, to pay creditors. You won't lose your house for having a big mortgage - you'll lose it for not paying the mortgage.

I know that. What I'm saying is that the way things are going, these clubs that are stretched to the limit will succumb, just like we did. But maybe not. Best of luck.

All this weeping and wailing about losing Old Firm visits is getting on my tits, to be honest. Rangers and Celtic seem to turn home fans off, as the matches are on TV and often a foregone conclusion.

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Who casts the Rangers (oldco) vote on the 4th July? Is it Duff & Phelps?

I just can't understand what they would base their vote on, as they have no vested interest at all in SPL/SFL/Newco - they are only the administrators of the Oldco. Why should they vote at all? Or maybe I'm thick.... :huh:

I was going to say so that they can get their £1 for their membership, but I suppose someone will have to pay that no matter what.

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Also, although Kilmarnock have always been a top-tier side since I started following football ca.1996, it was only a couple of decades ago that Brechin beat Kilmarnock to the old Second Division title. What gives them the right to be up there with the best? Nothing. If they need to survive then they can cut the spending and drop down to Ayr's (and our!) level if that's where they really deserve to be with their resources.

cause we are not Brechin.

our stint in the lower divisions were the exception to the rule, we have always been one of the biggest teams in this country. may i also remind you that since you have been following football Killie have won two national cup competitions and have had various European adventures.

Edited by Friedrich Engels

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That's the key point welshbairn. From ManU to diddy Aberdeen most clubs have debt but service it as an operating cost. Swapping debt stories with other clubs is ridiculous; the point is are you paying the interest and/or guaranteeing the debt in some way just like any other business? The other pointless exercise on here is slagging off anyone who has gone through admin. Ex Rangers had the choice to do this just the same as Murderwell, Dee etc., all they had to do was get a cva that was acceptable to 75% of their creditors. If they had done this there would be no argument that they would continue in the SPL, probably with sanctions which are a seperate issue.

Dundee had enough soft creditors, directors, ex directors, the guy who leased the ground etc to make the 75% required. I doubt if many of their other creditors, big and small, found getting back 6 pence in the pound an acceptable way of doing business. Whether you get a CVA or not, it's simply wrong, you've ripped off people and you've gained an unfair advantage over your competitors.

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So they wait a good while, spend a lot of money on demolition etc and end up with a plot of land in Govan? Surely there must be better investment opportunities?

You forget,Charles Green,and his associates are property developers.This is bread and butter to them.The costs of this would be considerably much less than it would be if it was an non developer who owned the land.

It was also mentioned that it would only take a few months to make the building unsafe,it had already been mentioned that even your own fans had commented on it needing a fair bit of repairing in places.All in this thread i may add if you want to read it.

So the fact he is losing the players,a downside,but not a major hurdle.The fact that it looks like he wont have a team,or even a league for next season,he can say i tried everything i could,but it is not my fault it happened this way.Meanwhile his expenses are minimal if he has no players,minimal staff and has made sure the heating and leccy are off.The ground suffers due to not being maintained,he has no funds to fix it,so applies to get it demolished.

Council wont pay for it,so say fine,go ahead.He then builds houses on it,and he can make a bonus by selling Murray park to the SFA,or whoever wants if for a few million as well.Not a bad turn over for a few months work,made to look silly at times,but has the last laugh when he walks away with more than double his investment.

I said it before,and stick by it that i feel Charles Green has been underestimated by many...he actually had no interest in the club other than to sell its assets for a huge profit.He has to string it out a few months to make him look the good guy though.

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Having just read this bullshit from Michael Johnston I feel very sorry for all the decent Kilmarnock fans, particularly the one who post here on P&B.

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The cynic in me says MB and any other chairman can't actually believe newcois commercially viable so either they are fans of former rfc...or more likely they want the precedent of liquidation and newco to be a future option for their clubs.

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How many thousands of Whttaker and Naismith 'oldco' tops have been consigned into the bin

hee-hee

oh dear, how sad, too bad

Or, indeed, Naicontract and Whitcontract jerseys?

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How many of the 70 realised that statue is a memorial to the 66 football fans that lost their lives on the 2nd of January 1971?

None. We don't know our history.

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Dundee had enough soft creditors, directors, ex directors, the guy who leased the ground etc to make the 75% required. I doubt if many of their other creditors, big and small, found getting back 6 pence in the pound an acceptable way of doing business. Whether you get a CVA or not, it's simply wrong, you've ripped off people and you've gained an unfair advantage over your competitors.

I don't think what clubs like Dundee or Motherwell did was right and it was correct they paid the penalties that were available at the time. They took very bad business decisions and it backfired on them. However I don't think anythink they have done is comparable to what Murray and Whyte did at Rangers.

Edited by Granny Danger

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You forget,Charles Green,and his associates are property developers.This is bread and butter to them.The costs of this would be considerably much less than it would be if it was an non developer who owned the land.

It was also mentioned that it would only take a few months to make the building unsafe,it had already been mentioned that even your own fans had commented on it needing a fair bit of repairing in places.All in this thread i may add if you want to read it.

So the fact he is losing the players,a downside,but not a major hurdle.The fact that it looks like he wont have a team,or even a league for next season,he can say i tried everything i could,but it is not my fault it happened this way.Meanwhile his expenses are minimal if he has no players,minimal staff and has made sure the heating and leccy are off.The ground suffers due to not being maintained,he has no funds to fix it,so applies to get it demolished.

Council wont pay for it,so say fine,go ahead.He then builds houses on it,and he can make a bonus by selling Murray park to the SFA,or whoever wants if for a few million as well.Not a bad turn over for a few months work,made to look silly at times,but has the last laugh when he walks away with more than double his investment.

I said it before,and stick by it that i feel Charles Green has been underestimated by many...he actually had no interest in the club other than to sell its assets for a huge profit.He has to string it out a few months to make him look the good guy though.

Probably the nearest thing to a coherent business plan for the newco!

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