Tony D was good enough to make a lengthy comment predicting the finish to the Rangers saga on the blog earlier. I thought it worthy of a billing of its own. Here it is, for your delectation. It is fair to say that, especially in light of Mr Doncaster’s words on Monday, Tony is not happy, and with good cause I feel.
Thanks Tony for the detailed comment.
Regrettably, what will happen in my opinion is this…
1) rangers 1872 will form a new company say rangers 2012 (‘incubator’)and transfer its SPL share (each club has 1 share in the SPL)
2) Duff and Phelps as administrators will sell the ‘Goodwill’ or ‘intellectual property’ of the old club to the new club, probably for a nominal sum. That includes its History of trophy’s leagues etc.
3) The old company will try and exit administration via a CVA (Company Voluntary Agreement) by way of offering its creditors a ‘pennies in the pound’ deal.
4) HMRC will NOT settle for 10-15p/£ they will press for upwards of 50p.
5) If the big tax case goes against rangers HMRC (and Ticketus who are owed £27 Million ) will BLOCK a cva. Result of that will ensure rfc 1872 is liquidated.
6) Rfc 2012 will continue in the SPL as if nothing happened, with minimal sanctions as there is no sanctions available under the current articles of association. The spineless directors who adjourned Monday’s meeting will reconvene next week and pass new rules for clubs getting in a mess in the ‘future’. This against a backdrop of intimidation and fear not to mention nepotism.
7) Rfc 2012 will offer shares to the mass of orcs and buy large!….result will be that they’re still up there competing against Celtic. Meanwhile Dunfermline who have been financially prudent all season (closing stands to save money) will be relegated…hence the uproar about footballing integrity, both moral and sporting.
8) Whyte who has a floating charge over ALL assets as it was assigned to him from Lloyds TSB when he settled the overdraft using Ticketus money. He will either sell to rfc 2012 over a period for many millions or transfer the assets and remain a major shareholder in the new company. Once on their feet he can sell his shareholding…assets restored, whyte walks with Millions…win win.
9) Ticketus may try and block deal, but Lord Hodge has observed that they are a normal creditor and should be treated as such. An observation NOT a ruling as he had insufficient time and information to make a proper judgement. Ticketus will pursue Whyte separately (which will take years)
10) SFA meanwhile will uphold partial sanctions (maybe 6 m ban on transfers suspended to see if they pay the outstanding money on players at present) and the semi-derisory fine of £160,000 will be halved.
11) UEFA will ban rfc 2012 from Europe for 1 (maybe 3) years.
12) SPL will rule that rfc 1872 broke the rules using EBT’s and may or may not strip them of trophies. It won’t matter as rfc 1872 is in liquidation.
13) Domestic and European clubs who were damaged with their cheating will desist from pursuing rfc 1872 for damages as they are in liquidation
1) The rangers fans will claim a seamless history despite rfc 2012 having a new company number. (You can change names to the cows come home but it is the number which is important. Celtic FC have had the name number registered at companies house since 1887).
2) The creditors will be stiffed big style including HMRC and Ticketus.
3) Business as usual for SPL
4) Business as usual for SFA
5) Duff and Phelps will be lauded as geniuses and can take their seats at Ibrox whenever they want…despite the Police warning them that it was unsafe at a recent league match….our old friend Intimidation again!
6) UEFA may make some noises under financial fair play rules (STILL TO BE INTRODUCED)but will let domestic association deal with it all.
7) Due to intimidation, threats, aggressive posturing rfc have essentially got their way….the authorities have capitulated.
8) David Murray absolved…indeed not even questioned.
9) Whyte seen to be playing ball will be left alone as his actions will have been vindicated…semi heroic status conferred.
10) The establishment club saved.
11) Bigger than usual party in Stirling on July 7th 2012……a real ‘we arra peepil celebration’….confirmed by the actions of all involved.
I personally, will not so much as watch another football match in Scotland let alone spend money to go and see one. There will be many like me…for a short while, then normal service will be resumed.
Written by Tony D