Rangers’ Great Escape – The Bill Miller Plan? Or Speculation Based on a Careless Word?

“If it‘s a newco with a CVA on a side route then they can take control by 11 May.”

This line, being a quote from David Whitehouse at the end of the piece in Scotland on Sunday yesterday about the Rangers bids, got me thinking. I fully expect that I am making a mountain out of not even a molehill here, so I offer everything I write below with the caveat that there is no concrete evidence to prove this is the plan, other than my own suspicions.

I do realise that it is Bill Miller, trucking tycoon from the USA, who is looking to buy the club, rather than Machiavelli!

I also want to make clear that, despite references below to the wonderful film The Sting, and the BBC programme, The Real Hustle, I am NOT suggesting that Mr Miller is doing anything illegal, nor should anyone take that implication from what I write.

If it is correct, then it is cunning plan of which Baldrick himself would be proud! 

Health warnings in place, on with the post!

———————————————

Words are important. A legal training means that you are attuned, at least in theory, to the finest nuance in a word or phrase. It is reminiscent of the skills taught at High School for practical criticism of poetry and prose in English. What did the writer mean by that word? What connotation was he looking to create in the reader’s mind? Why say one thing, when another word might have been equally valid?

However, in real life, whilst important, many factors can get in the way of a careful analysis of what someone says or writes. When talking the precision one expects in writing might not be present. If asked a question, one might misunderstand it, leading to an incorrect answer, which fails to convey the intended meaning.

Taking all that into account, I was greatly intrigued by Mr Whitehouse’s quote mentioned above, which has got me thinking.

Mr Whitehouse made the above reply after saying that, if a straight CVA for the existing Rangers took place, this would be in effect for the start of next season.

But the newco with CVA on a side route has a very specific date added to it.

It is assumed that this is a reference to Bill Miller’s “incubator company” idea. That seems to consist of the following elements.

First, a newco buys all of the assets of Rangers Football Club PLC, including the players and the history, and also the oldco’s right to income, such as its debtors and prize money still due from the SPL.

Secondly, the newco plays as Rangers whilst a CVA is organised for oldco.

Thirdly, and finally, once the oldco has a CVA in place, oldco and newco merge, so that oldco continues, thus returning all the assets to oldco and the long and proud history is not lost.

Clearly that is an involved and complex process, rather more so than outlined by me in three sentences. So why mention 11th May?

The last SPL game for Rangers this season is on Sunday 13th May, at St Johnstone. Therefore the reference to 11th May must be taken, I think, as meaning that the deal can be done and implemented before the season’s end.

But surely, one might ask, how can newco organise all of the registration transfers and other formalities, such as the SPL share and club licences etc in only two days? Indeed, does transfer of all the assets to a newco before the season ends not in fact result in “Rangers” not completing the season?

Here is where The Sting and The Real Hustle come in to play. The best scams or ruses (and for the avoidance of doubt I am not suggesting any illegality on the part of Mr Miller or D&P, or indeed anyone else) come when what is being done is in plain sight.

The characters played by Paul Newman and Robert Redford in The Sting fool Robert Shaw’s villain by setting up a gambling den in plain view (of the gambling fraternity rather than plain view of the authorities of course). Their cards are on the table, so to speak, and therefore Shaw cannot see how he is being scammed, because, on the face of it, nothing is hidden.

In the BBC’s Real Hustle, blatant deception, carried out in the face of the “mark” results in outcomes which, if done with criminal intent, could make the tricksters a fortune, and lose the victim much.

Here Bill Miller takes the Redford/Newman role, and the football authorities play the “mark”, with the difference that, in this case, whilst in no way part of the “sting” I wonder if the “victim” might be quite happy to be scammed.

 

How Might It Work?

After what is, even for me, a lengthy preamble, how therefore might this work?

Let’s say that the deal can be done so that, on 11th May, the assets of Rangers Football Club PLC are passed over to “Rangers Incubator Ltd”. For the avoidance of doubt, there is no such company, at least under that name!

Let’s say that the deal concludes late on the Friday, once the SPL and SFA offices, and the courts, have closed for the weekend.

What happens on the Sunday lunchtime? Here is the key.

In this scenario, “Rangers” turn up in Perth and run out onto the pitch for the kick-off!

In that event, would the SPL spend the Friday night and Saturday trying to stop the game taking place? After all, it will be the same players, in the same strips, with the same fans. Would the SPL want to see several thousand Rangers fans arriving in Perth on a Sunday lunchtime, some expecting it to be perhaps the last game ever played by their team, but most rejoicing at the “rescue” carried out by Mr Miller?

Would the SPL want to declare that the match should not be played, thus causing the jubilant fans to feel that they, and their club, were being victimised again by the football authorities?

Might public order considerations come into play, and Tayside Police decide that the game should go ahead, rather than having to turn away the fans at the gate, the stadium being closed?

Would St Johnstone want to be seen as complicit in ending Rangers’ existence, because, if the newco was not allowed to play, that would mean that Rangers had expired before the end of the season, and thus its record would be expunged. Even if unfairly, St Johnstone would not want to be seen as partly responsible by closing the doors in Rangers’ faces.

The game gets played therefore, for all the reasons mentioned above.

So What – How Does that help Mr Miller and Rangers?

This is the clever part. If newco were allowed to play at Perth, and in doing so, as it is the same Rangers, in terms of players, staff, strip and fans, then newco would be slipping directly into oldco’s shoes and effectively claiming to own all of the assets, including the points accumulated throughout the season to date. This would be an attempt to blow a hole in the various regulations, rules and legalities which might be seen as blocking the way.

As far as the players are concerned, the TUPE Regulations would transfer over employment contracts and rights to the newco.

If the SPL decided newco should start at zero points, that still would not mean relegation, as a team in the top six cannot be relegated, even if its pints total is passed by teams in the bottom six.

I suspect the nucleus of this plan though is that newco IS, for footballing purposes, oldco.

If the SPL permits the game to be played on that basis, then, in effect, Mr Miller has won.

Because if the SPL tried to enforce its rules for season 2012-2013 by referring to issues of registrations etc, Mr Miller could correctly say that the SPL had already admitted newco, by allowing the referee to have the Perth game kick off at all.

Therefore, the argument runs, as newco ended the season as “Rangers” it is entitled to start the new season as “Rangers” too! As newco is not in administration, and indeed as newco might not have existed when oldco committed the offences for which the SFA, so far, has levied punishment, how can newco be penalised with, for example, a transfer embargo?

You might say that Mr Miller could not argue that, for one purpose newco is Rangers, but for another it is not, but that seems the logical approach (even if inherently illogical) to take. It is akin to an accused pleading that they have an alibi, failing which self-defence!

The key to a good scam is to have a willing victim. If, in fact, the outcome of the scam is something which the victim would be quite happy to achieve, then it makes it even easier to pull off. Mr Whitehouse has referred to Mr Miller being “nearly there” with his bid, following a weeks worth of discussions with the football authorities.

Rather than the frankly impossible request for written confirmation that oldco Rangers would not be penalised, could it be that some variation of this plan has been floated to the SPL? After all, how long does it take to say “please confirm Rangers will not be penalised next season?” and to receive the simple answer “No”.

It seems clear that, if Scottish football had its way, a “Rangers” would stay in the SPL. Financial interests trump morals. As a wise man once said “Principles are nice, but who pays for them!” Another wise man of my acquaintance said “You can’t eat principles!”

Whilst it would be wrong to suggest that the SPL would, or indeed could, give the green light to such a plan in advance, the hypothetical question could be raised, and the hypothetical answer provided which would show how difficult a position the SPL would be in, if it tried, having allowed newco to play a game, to stop it starting next season.

In such a case, if the SPL blocked newco for next season, then in the view of many, I am sure, Neil Doncaster’s organisation would be up there in the rogues’ gallery along with the SFA as being responsible for the “death” of Rangers.

So If This Happens, Will there be a Merger in the Future?

No. Why should there be!

If this plan succeeded, then newco would be in the SPL. It might not have a European licence for three years, as a newco, but would have no other penalty.

Oldco would have Mr Miller’s purchase price, but as I have mentioned ad nauseam, I don’t see this as producing anything for unsecured creditors. Therefore there cannot be a successful CVA and therefore there is a winding up of oldco.

However, that will not matter, as newco will have emerged claiming to own the history. In a sale of assets to a newco, Craig Whyte, as 85% owner, cannot block the sale.

In a sale of assets like this, it is very hard for a creditor to block the process either. D&P can clearly show that there has been very little real interest, and Mr Miller’s offer is the best they are going to get. The valuations of the fixed assets at over £100,000,000 are irrelevant.

The existing Rangers Football Club PLC disappears, but so what?

Won’t Someone Object to this?

Who would have the will and locus to do so?

Creditors of oldco cannot stop it. The administrators have the power to sell the assets of the company in administration.

The team relegated from the SPL might but I assume that the SPL might “sweeten” the parachute package to allow it to go through. I recall this happened some years ago in English Rugby Union where the team which won promotion was refused access to the top division, in return for a sizeable payment.

Would the SPL or SFA object? They might find this to be a convenient solution to a thorny problem.

Can other SPL teams do so? Probably not in enough numbers to stop it.

Is It Legal and is it Right?

If the limited companies involved, namely the SPL and the SFA, permit it, then, subject to UEFA involvement, it can happen. After all, the SFA and SPL can alter their rules if they wish and if they have sufficient consent.

The numerous legal and regulatory issues could be got round if the will was there.

Would it be right?

It would save a vital part of Scotland’s heritage, as Mr Salmond described it, and would rescue the “most successful football team in world football”. We have already seen all the arguments deployed regarding the financial “benefits” to Scottish football of Rangers surviving.

I suspect that many however would view it as a betrayal of sporting integrity that would ruin Scottish football for ever.

Conclusion

As I said at the start, this idea might be a complete flight of fancy. It might have no bearing at all on reality. However, it seems to be a credible explanation of why Mr Whitehouse mentioned 11th May.

 

 Posted by Paul McConville (with tinfoil hat and copy of the Warren Report by my side.)

 

 

Advertisements

59 Comments

Filed under Administration, Football Governance, Insolvency Act 1986, SFA, SPL, Uncategorized, Unfounded Speculation

59 responses to “Rangers’ Great Escape – The Bill Miller Plan? Or Speculation Based on a Careless Word?

  1. Elaine

    What about Ibrox and Murray Park? How can they be transferred to Newco in the face of the security in favour of Craig Whyte or his company?

  2. simply brilliant theory and I can’t see why it would not work should anyone want to go down this route which of course there is no evidence of !

  3. Elaine

    Would such a disposal not be a disposal at substantial undervalue? How much of the £11.2m is attributable to the real estate?

    • It’s only worth what someone will pay. Bidders not exactly knocking down the doors!

      • TheBlackKnight TBK

        “It’s only worth what someone will pay. Bulldozers not exactly knocking down the gates!(yet)”

        Edited that for you 😉
        (Sorry Paul, couldn’t resist)

      • Paul, they’ve been inviting offers for the club to continue, not for the assets, like would be sold upon liquidation. I would think, sale of Ibrox on its own would achieve more than 11.2M. The administrators must do what is best for the creditors, the scenario you outlined does not achieve this.

        My understanding is liquidation must be used if it could be reasonably assumed it will achieve a better return for creditors.

        Finally, it has already been confirmed the transfer embargo is attached to the SFA license which any newco would require.

        Very interesting hypothesis, however I don’t believe feasible.

  4. Ewen C

    how could newco take on the players since they would be outside the xfer window at that point?

  5. Odear

    When I heard the date of May 11th I assumed this was tied to when the wages were set to kick back in at their full level.

  6. vinny c

    Yes. Were this to proceed, “Scottish football” as a brand would be the laughing-stock of the sporting world. This is exactly the reason why the SPL10, the SFA and SPL must act ethically. It may cause pain to those clubs, but it would be plain to see that it is Rangers oldco who is responsible for the distress caused. I would say to those at the meeting today: keep it simple, keep it clean, the moral high ground will be yours, and blame can be apportioned efficiently. There will be no shame.

  7. campsiejoe

    Paul

    Interesting scenario
    However, to carry it out, the SFA/SPL would need to transfer the necessary licenses prior to the game taking place
    In which case the SFA/SPL would be complicit in the “sting”
    Surely they wouldn’t be that stupid, UEFA would probably be all over them like a rash

  8. They can play the game in Perth, and then be docked 3 points for fielding an inelligable player (or 11 +subs in this case).

  9. Dhougal

    Paul excellent piece again ,but in some way tearfull if ”they” get away with this easy way out then Scottish fitba is dead to me and i will take nô more to do with it.

  10. Jack

    As well as all the finer points mentioned above as to why this might not work, newco fielding unregistered players, not having a licence to play etc., assuming the SFA did bend over could it not find itself subject to a judicial review?

  11. Falkirkbhoy

    But is that not why they could do it on the Friday night, all offices are closed, Rangers* and their supporters** turn up at the game on sunday, the SPL/SFA haven’t had enough time to all get together to cancel the game, so is 1 man going to stand up and make the call to the police and the super jay’s chairman to cancel the game on their own accord, without the support of a committee.
    No chance.
    Once a game has taken place with the newco they cant go back. Can they?
    * In Admin
    ** Huns

  12. Ian =B=

    A horrific scenario that makes me shudder, for the reason that it makes some sense of what has been meant by the “incubator”. If the unsecured creditors are looking at hee-haw, what is to stop the HMRC taking assets off RFC(IA) for a write-down in the sums owed and then selling these on the open market?

    Also, I still tend to think that the players are worth a reasonable amount, say at least £1M per man for the first fifteen. This plus Ibrox and Murray park must be worth something.

    • Lollapalooza

      I understand that once a football club is in liquidation, the players are released from their contract so they cannot be sold on the “open market”. Ibrox is a listed building and it’s worthless without a football team to play in it.

  13. Campsie Loyal

    Sounds quite a good plan to me. Dont see a problem with it and would allow the SPL to continue as is.

    • Peter

      Well of course it sounds a good plan to you. Hopefully this tree will never bear fruit though or cheaters have just cheated their way out of all debts, physical and moral.

  14. Carntyne

    Sounds like a plan if a bit complicated.

    A couple of points.

    1) When asked to write poetry at school my only concern was to make sure the word at the end of the second line rhymed with the last word of the fourth line. So much for any whimsical idea that somebody might spend any time worrying to death what I might have meant. 🙂 (I take your point though)

    2) If Mr. Miller is as devious as you suspect, and Duff & Phelps are complicit, why have the Rangers administrators on three occasions ruled out the Miller Lite bid, and indeed as recently as Saturday were seen to be encouraging a higher bid from the Blue Knighty Knights?

    I’d love to be able to say that I knew what the end result will be, but I can’t.

    What I can say is, I have and am enjoying the never ending length of a train crash this sordid mess has become.

  15. weeminger

    And what would the NewCo’s punishment be for fielding ineligible and unregistered players? The result would be awarded as 3-0 to their opponents and they might get a fine. Oooh scary.

  16. There's Only One Willie Miller

    This can’t be done, the transfer window is closed so newco couldn’t sign any players.

    • But the players are all still “Rangers” players. The beauty of the plan, far fecthed though it might be, is that it challenges the relevant authorities to finish “Rangers” off, whilst allowing them to parachute if the will of the majority allows it.

      .

      • There's Only One Willie Miller

        The players are oldco Rangers players, newco Rangers can’t sign anybody until the transfer window opens in the summer.

      • There's Only One Willie Miller

        It’s just more PR drivel from those numpties Duff & Duffer

      • delbhoy

        Possibly feasible but most unlikely for the major reason that D&P would not be acting in the best interests of the creditors! They are of course appointed by the court to do so.

        it also opens them up surely to legal action by HMRC and other creditors for not looking after their interests. In addition it would be so damaging to their reputation (sic) that they could expect little such work in the future from creditors as any such appointments would be opposed in court.

  17. Bhoywonder

    Paul, a brilliant scenario but there are too many rules governing players registrations. Players can be registered electronically, so it is possible,to register them in retrospect…but as a Newco they would also need to have registered a ground, colours etc…This needs to be done in writing. But as you say (not in so few words) for the SPL to solve this dilemma;….where there’s a will there’s a way!

    I would also have thought the re-arranged SPL meeting of today for the 7th May, might have been better held on the 8th, since Hibs play Dunfermline on the evening of the 7th. Or is there something in this as well?….the plot thickens.

  18. TheBlackKnight TBK

    Shirley transfer of the membership or licence would not be permitted under the current rules? I recall much discussion on here and RTC, in particular the requirement for 3years of accounts, to satisfy licensing criteria. We currently subscribe to abide by the articles of association, UEFA registration rules are incumbent.

    Could that be achieved in your scenario?

  19. Ken

    Can you explain the scenario of transfer of assets to Newco for me, Paul – the assets of the Real Estate (Ibrox, Murray Park etc) alone are worth many times what is being reported as the offer from Miller;
    now for the total offered being then applied to the proposed CVA, one might imagine the assets are transferred for nominal sum – do I hear one pound anyone? 🙂
    The creditors would surely be outraged at being offered mere pennies on the pound for their debt, while the assets are stripped off.
    The first question is – do they have any power to block such a transfer?
    Next, what happens if they then reject the CVA? Oldco gets liquidated, but the only assets left would presumably be the cash transferred from Incubator inc?
    Surely D & P could not possibly be acting in the interests of the creditors if they allow – nay, endorse, the stripping of the major assets of the oldco in order to issue a vehicle for someone to make the company a viable going concern?
    Can CW block the sale of the major assets under this scheme?

  20. delbhoy

    Paul

    the ‘sting’ theory only works in those cases where the perpetrator vanishes and cannot be caught afterwards or the victim looks too foolish or some shady dealings made them refrain from pursuing this.

    Sounds good erm….apart from the problems over players registrations,assets going to the secured creditors and SPL/SFA/Uefa turning a blind eye. It’s chances of coming to pass are in the same category as most of Baldrick’s ‘cunning plans’.

  21. Niall Walker

    I had a brief glance at the implications of Miller’s bid, I stopped when I started to lose the will to live.

    It seems counter intuitive to sell assets that are secured when it is not in the best interests of the secured creditors. An administrator would have his work cut out persuading secured creditors that Ibrox and MP are only worth 11 million, even in a firesale. Book values are not what the assets are worth but they are not pure fiction.

    The offer seems to consist of the 7 million debenture secured creditors, the admin fees and the redundancies. Sounds like a smash and grab raid.

    Miller is intending to fight HMRC, Ticketus, Craig Whyte, SPL and SFA on the premise that possession is 9/10ths of the law.

    I love Americans but they are crazy.

  22. Jim Farrell

    Sounds good but now the whole world/SFA know of a potential scenario, it would be in thier best interests to have a skeleton staff on that weekend in order to rebuff said registrations… or is that too simple?

  23. BP9

    I dont think it needs to be so complex – go the NewCo route as described – tell the SPL and SFA Rangers are going to apply for SFL licence and stand back and watch while they SPL and SFA back off and decide NewCo asset transfer is valid! Calling the bluff – but it is the greed of the ‘marks’ who will make the ‘sting’ legal!
    Oh and all morally and legally correct with Integrity intact as Rangers (Newco) were willing to take there punishment.

  24. Gerry

    Everything rests on ‘bogus’ rangers being permitted to play their last game.

    If this fails then the plan fails.

    Whist no football authority can be trusted regarding rangers I would simply balance the friction of cancelling the game against the consequences of allowing it to take place.

    Of course rangers supporters can be a little noisy and boisterous at times but the cumulative effect of betraying every sports fan and institution in Scotland would have much worse consequences.

    If the intention is to simply turn up and play when the game could easily be called off and so it’s is a non starter in my opinion.

    And is that not the beauty of this article?

    The cunning plan won’t work because the possibility of it happening has been raised?

    When asleep we are vulnerable to thieves in the night and thanks to the article we are now awake to the possibility. A time to be vigilant then, just in case.

    Apart from all else, I for one don’t intend to walk the length of 9 holes at a pitch & putt on my day off to stand and shout at an empty building!

    Fore-warned and all that!

  25. Goosy

    Paul
    Devils Advocate
    1 If the scam is that good then why don`t TBK do it? Or anyone else for that matter?
    2 If all offices are closed how can the TUPE deal be legally registered with the SFA, SPL and Companies House ?This would be trading before proper registration
    3 Unlikely that SFA and SPL would verbally approve transfer of history and licence It will be a committee decision in writing after the event at a time when the SCAM word is all over the internet .This would certainly make the national news and draw attention from UEFA
    4 When EBT panel report they cannot be presented with a fait accompli in terms of the ultimate sanction being hastliy ruled out in advance This would make a mockery of sporting integrity
    5 How would they to cope with transfer ban assuming its upheld adn £1m /month loss from 1st June
    6 I suspect HMRC maay go after the merged club as a phoenix using the scam as proof

  26. This is just about crazy enough that it could work. It would need massive collusion between Miller, D&P and the two footballing bodies – but is that impossible to imagine? Would they really put everything on the line for a deal like this?

    Surely this couldn’t happen? What could UEFA do about it if it did? And could anyone (creditor/ another club/ whoever) get an emergency interdict on a Saturday morning to stop it? I don’t even know if there is any legal precident for that.

  27. Goosy

    One last point
    If this scam is a runner it will be on Off The Ball this Saturday
    With Tam Cowan telling Stuart Cosgrave the Saints are doing it for the gate money
    If that dosen`t wake up everybody nothing will

  28. Mr McConville that analysis surpasses anything I have read in the past 13 months on the liars, cheats and thieves that are rfc (IN ADMINISTRATION).

    One aspect which has not been factored in is the mass protest group turning up at McDermaid Park to from Saturday morning with tents and placards to oppose such chicanery.

    Mines will be the big orange and blue one

  29. Jimothy

    Paul, you are either…
    a) attributing a level of cunning, guile, deviousness, and dammit, downright cleverness, that none of these organisations or individuals have demonstrated thus far, or….
    b) providing them with a plan which had not, hitherto, occurred to them, but which is at this very moment being seriously studied by candlelight in a high-up office at the Big Hoose as a plan that might…just…work…
    If it’s b), and it gets out that you unwittingly provided the template, I’m not sure you’ll ever be forgiven!

    • Bhoywonder

      Apart from D&P not having the brains, balls or wherewithall to devise the “sting scenario”, giving them straws to clutch at is cruel….shame on you wee fella. I’m currently enjoying some Nazarene (Cuban Red) Off to my kip!!

  30. Davie b

    Paul

    From a financial perspective, why would anyone TUPE the staff, inheriting the redundancy cost and the exisitng contracts with the resumed level of salaries for the overpaid buffoons and a £10m black hole in the ongoing figures – liquidation is the only way to avoid these issues and cut the costs.

    • this won’t happen as someone says earlier d&p are working for the courts and miller isn’t hiding what his plans are whyte won’t sell to miller either as he knows he liquidation dressed up.whyte can’t afford to sell to a cardboard cut out of his self as there would be an investigation which is something whyte doesn’t want.

  31. Paul, probably spot on with more people being “DUPED”.
    Dam it, we cant do anything about it now cos we were aff the weekend. You can hear spokesperson for some organisations saying Mon 14th May.
    Makes me sick

  32. Paul,
    Chapeau, as they say elsewhere. You have discovered a new vocation. The esoteric stuff need restrain you no more!
    Only one thing. History can neither be bought nor sold.
    Regards

    Iain

  33. Den

    The ‘incubator’ idea is just a new name on the old trick. Move the assets from old Company to new one leave the Liabilities with old one. I think that Miller would eventually give up on the old company if the CVA was not forthcoming, and let it be liquidated.

    The scheme as outlined may just work but it would take a lot of colusion. The SPL and SFA.

    Delivering the registration documents late Friday would be delivery but surely there would need to be some confirmation, assessment, approval. I think a Court would think it reasonable that some working days would be allowed to process the transfer of a whole team, especially in light of what has gone on.

    When the authorities get wind of it they would just say that Newco are not members of the governing bodies and as such it is not an SPL match. What would be the point of playing it.

    I would expect that players must carry insurance and these policies would cover them playing Professional sanctioned football, an unofficial game may invalidate such insurance.

    One thing I am sure of the bidders will not put their own money at risk, the easiest way is not really to bid (current strategy) but if they do there will be a lot of smoke and mirrors.

    My gut feel is that eventually Rangers will be liquidated and then the lawsuits and investigations will take years making it virtually impossible to get a viable team off the ground.

    • Bhoywonder

      Just woke up from a pleasant sleep. Players can be registered electronically, as I explained earlier. This gives Paul’s scenario some credence as they can be registered prior to the game. The ground, colours can be arranged anytime with the new found partners. So welcome Rangers Sporting Club Ltd. (well, why not?) and goodbye RFC (ia) whatever, it’s all a shambles, and NONE of my friends plan to renew their ST….boycortt isn’t just Geoffrey!!!!

  34. Stu

    I believe the only issue with this plan is that in order to be eligible for SPL membership, the newco would have to meet the UEFA licence requirements. They would not need to HAVE a UEFA licence as such, just meet the requirements (SPL regulation). The deadline for being able to meet the requirements passed on 31st March.

  35. Fara

    I’m just imagining this actually happening and being made into a movie. At the end of the film and on successful completion of the sting the camera pans back to reveal the maestro playing ” the enternainer” on an up right piano is none other than our hero Craig Sleight.

  36. Richboy

    Just when I thought I had a handle on this along comes Paul with this scenario. Am telling ye, ma heed is fair done in noo.

  37. Pingback: Why Did Rangers’ Administrator Say that a “Newco with CVA Side Route” Could be done by 11th May? | Random Thoughts Re Scots Law by Paul McConville

  38. Tommy B

    The scenario depicted, could only work with the assistance of the football authorities. Newco taking over after SFA/SPL offices close is surely not possible. It’s a bit like a player being signed late in the day, on the last day of the window. If registration is not completede by the time the SFA offices close, then the transfer does not go through. All clubs are aware of the offfice hours of SFA/SPL and all know that business is done during these hours. Whilst not knowing the process and procedures for their business, I can only imagine that there are delivery receipts and acknowledgements that all documentation has been received. It would not be competent to say that, we delivered them it’s not our fault that you were not there to accept them.
    If such a scenario were to pan out, I think that the outcry from every other club and supporter would be deafening. Scottish football would certainly be a laughing stock in the wider football community.
    I hope that by your simply alluding to such a possibility, then the SFA/SPL can take steps to ensure that it cannot be either attempted or implemented.

    • Bhoywonder

      It’s the type of “solution” the SPL is looking for. So as you say…it needs to be prevented from happening.in the first place. The best way to disclose the “twist” is to shrewdly put it out there for all to see, I also wonder if Paul and RTC’s blogs have attracted the eagle eyes of UEFA.

  39. Pingback: Neil Doncaster of the SPL on BBC Radio Scotland – Transcript 30 April | Random Thoughts Re Scots Law by Paul McConville

  40. Love of the FACTS

    Bill Miller (assuming same gentleman) background, maybe the RFC fans might want to be take a closer look as part of ‘due diligence’! 😉

    http://www.bizjournals.com/charlotte/stories/2004/03/01/daily36.html – ” Named in the suit are William Miller, former chief executive of Team Sports, and Jon Pritchett, former president.”

    “In a press release about the suit, shareholder Edward Garland says, “The company and its directors thought they were getting an experienced CEO capable of completing the company’s team auto racing concept. Instead it got a man full of greed who wanted control of the company for himself.”

    http://www.owlsonline.com/?page=forum&thread_id=5733 – “Made me worry that this Bill Miller (bankrupt/accused crook/towing tycoon) might be involved in our deal.”

    Sheffield Wed supporters view!!

  41. Marching on Together

    Accepting the scenario you put forward Paul, what would there be to stop an interested party, say for the sake of argument Dunfermline FC (likely to be saved from relegation if Rangers as currently constituted cease to exist before the end of the season), waking a sheriff up in the appropriate jurisdiction and obtaining an interim interdict prohibiting the game from going ahead? There is no reason why this match has to be played on the scheduled day, other than for reasons of football tidiness.

  42. gerard francis reilly

    if previous explanations become reality , can i assume that the government roll over and forget the massive taxes due by deliberate avoidance of income tax and national insurance contributions by this rogue club ? that would open the door to any employer or self employed person to follow the actions of the swindlers and do likewise , what happens o the clubs who played by the rules ? are they now being forced to accept the non punished club back to compete against them ? surely the old regime at rfc must be sanctioned to stop others applying the same “trick” and just hire a legal eagle to help them change their name and play dead like the ibrox club have done ? god forbid !!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s