Walter Difference A Week Makes! Rangers’ Ups and Downs

One of the hallmarks of the continuing Rangers saga has been the fact that, rather than being a long and steady decline, the story has progressed in fits and starts. For every two negatives for Rangers, there has been a positive, or at least a thread which their fans can grasp on to as a way out of the mire.

Rangers Fans don’t know whether to laugh or cry

We have had Craig Whyte taking the club from Sir David Murray’s hands, Mr Whyte’s gung-ho pronouncements about the “Big Tax Case”, the refusal in the summer to sell Mr Jelavic, the team taking the autumn lead in the SPL, the positivity taken from administration as seeing the end of Whyte, the emergence of the Blue Knights, and Bill Ng, and Brian Kennedy, and Bill Miller, and Charles Green, and the decision of Lord Glennie to overturn the SFA registration ban.

However, on each and every occasion the sparkle has quickly left the champagne, as apparent triumph fades away.

As the great philosopher John Cleese said, in his starring role in Clockwise:-

 “It’s not the despair, Laura. I can take the despair. It’s the hope I can’t stand.”

John Cleese has just heard the Walter Smith has pulled out

Rangers fans I know have experienced so many highs and lows over the last year that I suspect that statement could be adopted as the club’s new motto.

The last few days however have had possibly the best moments for Rangers supporters since the lifting of the League title last May. On Thursday last, as the shareholders were filing out of Ibrox having heard that the CVA had been rejected by HMRC, the Seventh Cavalry rode over the hill on white chargers. Walter Smith was leading a consortium looking to gazump Mr Green and Sevco! Walter had returned! All was right with the world!

Walter Smith announces his takeover plans

What did Mr Smith have to say?

“I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club. I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective – that Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.

“With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the “Newco” basis on which Mr Green is proceeding.

“We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.

“None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the club. However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.

“Let’s be clear, this is an acquisition designed to stabilise the club and ensure history does not repeat itself. We are not in this to take money out of the club but more so to do whatever it takes in a turnaround plan to ensure within a few years the Club can be passed on intact and to the right people.

“The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward – for Rangers people who know the club inside and out to control its destiny.

“The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.

“I would hope that this offer is fully supported by everyone in the Rangers Family as without them the club cannot and will not survive. We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for.”

No. This is not the right Douglas Park.

 

Nope – wrong Jim McColl! Mr Picture Editor – you’re fired!

There were a few people carping on the sidelines. What, they said, about the alleged benefits paid to Mr Smith through EBT’s?

If he had been in discussion with the businessmen over a few weeks, why wait till the day of the vote, when Duff & Phelps had already said there was a binding deal to sell to Sevco if the CVA failed?

He ran with almost the equivalent of the famous line by General Sherman – “If nominated, I will not accept; if drafted, I will not run; if elected, I will not serve”. Or, as he was being reluctantly forced to play a role, he was like a newly elected Speaker of the House of Commons who is dragged, unwillingly, to his chair.

However Mr Smith was making his position clear. He would not stand idly by and watch Rangers fail. The businessmen supporting him were going to provide “acquisition funding” although there was no mention of working capital. £6 million was talked about ad the purchase price, giving an extra £500k for the creditors’ pot. How could anyone refuse? How could Mr Green not stand aside?

The problems soon started. Mr Green’s response was to point out that he was now the owner of Rangers, and that there was no point in speaking to D&P any more. Mr Green held the cards and the keys. It was made known that an increased offer would be needed for there to be any discussions, and a significant increase at that. Otherwise Mr Green was happy to discuss things with the Smith consortium, and have them join as investors.

I have no doubt that Mr Smith meant every word he said. The backers he mentioned have no need, by all accounts, to use Rangers to make them money. However, Mr Green and his party of 20 investors are not Rangers fans. They are involved in this deal to make money. That is perfectly legitimate in our capitalist society, but the reaction of the fans to an owner who states that they are there to make money is rarely positive.

Even Fergus McCann, who achieved all his goals for Celtic and for himself in the five years he was at Parkhead, was booed on returning to Celtic Park. No fans ever chanted in praise of a balance sheet, or sang the name of the Commercial Director who had garnered a new sponsorship deal.

Mr Green was never going to take a step back without having a suitably large cheque put in his hand first.

But pressure was building. In anticipation of a concerted push by the Smith consortium a march in their support, and by implication against Mr Green’s party was arranged for Saturday coming. Fans’ organisations asked the supporters to boycott season ticket sales on the basis that the choking off of Sevco’s easiest source of working capital would force Mr Green into a corner. All was right with the world, and Walter would be back in charge soon when thousands upon thousands of season tickets would be bought to fill the Ibrox coffers!

And then we had the news today – Walter Smith was leaving the stage, without the ownership of Rangers! There was weeping, wailing and gnashing of teeth – almost Biblical in its extent.

The statement today reads very differently from that of just under a week ago. I have added my comments in bold.

“I would like to clarify the background to the offer of £6million for the assets of the club which I announced on Thursday, June 14 2012. The offer was made to the administrators before the Charles Green consortium had concluded their transaction to acquire the assets at £5.5m from the administrators.

The offer might have been made before Sevco concluded their transaction, but D&P had made it clear, well in advance of the creditors’ meeting, that if the CVA failed they had a binding agreement to sell the business and assets to Mr Green’s group. Therefore Mr Smith is acknowledging that what he was doing was turning up at the estate agents on the morning when the keys are to be handed over to the new owner and trying to stop the deal then.

He and his group are wise men. Surely they knew that they could not, legally, intervene, without Sevco allowing them to? If they had made a £6 million offer prior to the agreement with Sevco being reached, that might have made a difference. But that was a few weeks ago.

 

We felt it necessary to have a fall-back position to secure the club’s future. We have since made the same offer of £6m to the Green consortium through Zeus Capital.

In what way was this a fall-back position? Cynics suggested that it was tactically wise for Mr Smith not to be present at the “end” (possibly) of Rangers, but that it would help (a) to be able to say he had tried and (b) if he could take it over, it would have been in the Mark Anthony role rather than that of Brutus.

Zeus Capital is an interesting company, with much expertise in football matters claimed –

“As part of the deal Imran Ahmad and Brian Stockbridge from Zeus Capital have joined the Board of The Rangers Football Club. Zeus Capital and its associates are also investors in the newco.

Zeus Capital is experienced in working with football clubs having advised Sunderland Football Club on 2 previous deals including the takeover by Niall Quinn and his consortium and advised on the Rule 9 offer for West Bromwich Albion. Members of the Zeus Capital team have also worked on deals for the following football clubs, Manchester United, Leicester City, Sheffield United and Millwall.”

 

Our offer has been rejected and they have made a counter-offer inviting us to join their consortium. However, the current business plan is not in accord with our understanding of the present circumstances of the club and the way forward, but we would prefer to leave them to proceed in their own way and we wish them good luck in their endeavours.

How bad must Mr Smith and his colleagues think the mess is if, despite their wish to safeguard the “magic” and history of Rangers, they are not willing to join with Mr Green in his consortium? Surely, if they accept that Mr Green has Rangers best interests at heart, as he has stated, they could be a positive influence? In the same way that Tony Blair, as Prime Minister, went along with George W Bush’s plans to invade Iraq so as to have some influence of a calming nature on what the President did, surely Walter and his team would have best been able to serve Rangers by coming on board with Mr Green, and offering their expertise, skills and money?

The fact they did not do so suggests that (a) they saw they would be taken advantage of (b) they see the Sevco plan as failing or (c) they think that their offer will look far more attractive to Sevco in a few weeks or months. Indeed any and all of them could be true!

To state that “the current business plan is not in accord with our understanding of the present circumstances of the club and the way forward” is damning. This is more than a difference of opinion on whether to play with one centre forward or two big men up front. Mr Smith does not see the Sevco plan as working.

 

Members of our consortium had met with Charles Green and Zeus Capital prior to the CVA meeting and it had been agreed that we would be provided with significant information which would give us comfort as to the identity of the consortium members, their strategy and their funding capacity. This information had not been forthcoming by the date of our offer.

So, according to Mr Smith, Mr Green did not play ball, including identifying the members of his team, and the money they had. Bearing in mind the rumours which persisted that Sevco had had trouble raising the full £5.5 million purchase price, this can have given no comfort at all to Mr Smith and his undoubtedly wealthy backers. Mr Smith too is probably a man wealthier than many of the people involved in the pursuit of Rangers over the last year. Many years ago I heard from various legal acquaintances about Mr Smith’s personal business acumen. One assumes he will have continued to invest wisely.

 

We are therefore withdrawing completely from the process to enable Charles Green and his consortium to move forward.  We very much hope the verbal assurances they provided to us – and the public statements made – are adhered to and that the club will therefore be financed and managed with appropriate governance and can go forward in a sustainable manner.

If Mr Smith had wanted to cause more upset for the hard pressed Rangers fans, he could not have done much better than this statement. He makes it clear that he believes the Sevco plan is doomed to fail. However, his trust in Sevco seems to be so damaged that he is not prepared to engage in further discussions. He is out of the picture.

 

We wish the new Rangers Football Club every good fortune.

What a sign off, and interestingly he refers to the “new” Rangers! The now punch-0drunk Rangers fan would have reads or listened to that statement and be conflicted enormously. Should he support Mr Green, as he is now the man in possession and, for better or worse, he is not leaving soon? Or should he hold off from getting his season ticket until the July 4 vote, and until he sees that Mr Green can be trusted? How long can Rangers continue under Sevco if season tickets do not start to sell? What should the proud and loyal Rangers supporter do?

The sensible answer would be to await a rallying cry from Sevco.

And it came! (With my comments again in bold.)

MALCOLM MURRAY, Chairman of The Rangers Football Club, issued the following statement today.

He said: “On behalf of the Board of Directors I would like to reaffirm the long term commitment of the investors who acquired the Club last week. The consortium is wholly committed to rebuilding Rangers and their investment is regarded as a strategic long-term project. As I have said previously I am not in this for personal gain and what is of paramount importance is the Club regains stability both in financial and footballing terms.

Mr Murray says he is not involved to make money. I believe him. What about Mr Green and all of the investors. Are they in it to make money? One assumes so. Investment as a long-term strategic project could mean simply building Sevco to the point where it can be floated successfully. The goals of financial and footballing stability are not mutually exclusive. One brings the other.

 

“Since the announcement last week by the Walter Smith consortium, our position as a Board has been clear in that we would welcome constructive dialogue with all those involved. The Green consortium said last Thursday evening that it was not looking for a sale and that is the view of the investors.

The investors are not looking for a sale. Will they ignore one if a good enough offer came along? If they are investors, by implication looking for profit, then there will come a price, won’t there?

 

“We can however say to supporters that the assurances the Walter Smith consortium are looking for regarding financial probity and high standards of corporate governance will be met. Following the announcement today on behalf of the Walter Smith consortium, the Board would urge all Rangers fans to now get behind the Club.

Mr Murray does not address the criticism that Sevco failed to provide information it had agreed to hand over. That is simply passed over in the statement. Urging all the fans to get behind an owner whose business plan has been declared to be effectively unworkable is a brave stance to take, although it might just be a necessary one.

 

“We have huge issues to address in terms of the Club’s status within the SPL and SFA and it is important that we unite prior to decisions being taken about the Club’s future by the football authorities. We continue to welcome any input from members of the Walter Smith consortium or other stakeholders who have Rangers interests at heart.

Sevco welcomes input, especially if in the form, one assumes, of a large cheque! The investors stand to have bought a dud, if excluded from the SPL or indeed expelled from Scottish football.

Fantasies of Rangers going to play in the English League, Dutch League or even Major League Soccer in the USA would be just that – fantasies. In that event, for a £5.5 million purchase price, Mr Green’s investors would be left with nothing except for fixed assets valued a few years back in the Rangers balance sheet at in excess of £100 million…hang on a minute…

 

“These matters are of critical importance to us all as Rangers fans. All fans, myself included, have gone through enough anguish in the last year and it is now time to move forward. The most important thing of all is working together to deliver a successful future for Rangers and Scottish football. I have had good discussions today with Ally McCoist, Sandy Jardine and members of the Rangers Fans Fighting Fund and all are agreed, it is important for the Club to move forward.”

Generally people will agree that moving forward is a good thing. However, Mr Murray might be the only one of the consortium who is a Rangers “fan”. The rest are fans of money. I wonder if at the meeting Ally McCoist could tell Mr Murray how many players are on the books, or indeed if Mr Murray could tell Mr McCoist that? One also imagines that Mr McCoist has not objected to his employment contract passing to Sevco 5088 Ltd.

All in all, with respect to Mr Murray, this was hardly “We will fight them on the beaches…” The statement that would resonate most with me today, if I was a Rangers fan, would be that of Walter Smith, not that of Malcolm Murray. And that would be even more of a downer than the news of Smith’s involvement last week was an upper!

 

Charles Green, Chief Executive added: “I fully recognise there is a huge job to be done to rebuild the trust between the fans and the Club which has been badly broken. I will do everything I can to help rebuild Rangers and the most important challenges we face at the moment are about our future and what league we play in. I can assure fans that I will work tirelessly in the interests of the Club to secure its future.”

Sorry Mr Green. When such serious questions about an unworkable business plan and failing to produce documents and information as promised are asked, there needs to be a full answer. Mr Green wants Rangers fans to trust him?

That will not happen based on today’s statements, I would suggest. If it does, then the Rangers fans deserve to be commended for their unquenchable loyalty in the face of all the contrary evidence.

Is this the end for the Smith consortium? Will we see it return and might the Blue Knights and Brian Kennedy re-emerge? Will someone make Mr Green an offer he can’t refuse. These and many more questions will be answered, but I have no idea when!

 

Posted by Paul McConville

 

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58 Comments

Filed under Charles Green, Football, Rangers

58 responses to “Walter Difference A Week Makes! Rangers’ Ups and Downs

  1. Gerard Madill

    Enjoyed that. Thanks, Paul. And to think I used to use that very quote from Clockwise (fantastic film, btw) to describe the ups and (mostly, at the time) downs of being a Celtic supporter. Never in my wildest dreams could I see such a turnaround! :))))

    • mick

      dont you think greens a fantaised with other peoples money ,the huns are dead sevco own brick and mortar ibrokes and mint park ,they cant use the name rangers for a year ,they dont have players (tube is challenable in court ,company house states you cant use similiar name for a year ,the 10mil short fill that killed the huns is still lurking and could latch on to sevco if tube is deemed to be applied ,financial doping case still to answer the big tax case uefa fifa its to many hurdles for him and every hurdle he gets over 12 apear in front of him its finshed its a done deal the huns are dead sevco are dreaming greens 2weeks away from announceing the consurtum want the dosh sold to highest bidder tesco

  2. cmh64

    I doubted the purpose of the Walter Smith consortium bid last week, but that statement today was damning. Surely, if they have any hope of being taken seriously, the Green consortium have to address the issues raised. Vague rambling just doesn’t work any more.

    • mick

      walter was just playing to media trying to keep the dream alive hes got an injution out agianst the bbc about the ebts (the 2mil that hasent been mentioned )and it runs out soon this month so it will be intresting to see all that comes out of that hes as bent as any of them crooked to the core hes the reason they died the hero soon to turn villian every rangers fan a talk to hates murry over the 6mil he took wait to they see walter took 2mil all the suits are tax evaders and there will be a trial soon boom song will be crown witness lol its tesco time july

  3. Paul, my understanding of these matters is much clearer because of your blog. Thank you for the honesty, quality and the clarity of your posts.

    • mick

      paul me and johnny are your intermidate fan base are you thinking about merchandise key rings pens tshirts were your biggest fans lol you could do merchandise and give the some to marys wheels or a charity of your choice or up loada charity addy and bank detials for people to donate a reckon you would do well it would give people like my self a chance to say thank you for all the hard graft you have put in although a try and add we joke here or there on this am serious

  4. There will be more tumble weed than supporters in Ibriox next season. Still I’m sure that life in the Third Division will be a humbling experience for Cheats f.c.

    • mick

      thats if they get that far a think d&ps might be on a back hander somewere down the line when they realise rangers are dead and they have no league and tesco step in ,ikea could serve the whole of glasgow from ibrokes and murry park

  5. AntoniousF

    Hang on a sec. Wally the cardigan is walking away, i thought that was not in THE Rangers vocablary and the new and improved Mr Murray is bringing the club back from the dead Lazarus style, next he will be walking on water and turning fivers into tenners. oops sorry, that was the other Mr Murray

  6. TheBlackKnight TBK

    excellent read and broken up with some humorous pics! Excellent!

    Glad you didn’t make any supposition in regard to the swift disappearance of Sir Walter of Cardigan and the Phoenix Knights with RTCs little allegation/revelation 😉

  7. mick

    great read paul you have kept it intermediate for all to read ,it just seems theres no end to the drama if the fans walk and dont back green a reckon its tesco time at ibrokes ,div3 is well on the cards there is a 10mil yearly black hole all the top players can leave for 3 under scots law thats when the ibrokes faithfull will really spit the dummy when the see the team ,also what gives rangers the right to swanny in to div3 you need 3 years accounts to do that in currant scots law of sport they should do 3 years as a junior side as the law stands thats fact they are a new club with no accounts

  8. mick

    say you live in scotland and hate football ,it would make you pull your hair out story after story lie after lie cover up after cover up ,something that no 1 really mentions am glad this is all out were the last generation of scottish R.C.s to be hoodwinked by the funnyhandshake wit school didyou go to mob ,am hoping tesco 5.5mil when its worth 100mil going going gone sold to the highest bidder whatch this space

  9. mick

    the west coast hand shake crew fire service chiefs paying thereself of then getting golden envolopes then back in similiar posts months later the former football club rangers all there suits getting ebts the sfa certian members on there books getting ebts when not there the list goes on and on ,the only diffrence between them and the mafia is that they havent littered the streets with gunshot victims not all rangers fans know the handshake and most rangers fans live hand to mouth in glasgow glasgow and its surrounding areas are rive with inequalitys and poor health due to the curupt suits in power making desisions due to brown envolpes and not the commen good of man

  10. Paul, what do we know about the terms of Green’s purchase of the assets from D&P? Is there a condition which states that the sale is void if Servco 8055 Ltd FC cannot play in the SPL?
    if there is such a condition and if Club 12 turns out not to be Servco 8055 Ltd FC, what happens then?

    • Marching on Together

      A decent lawyer would have advised Green to have that as a condition. Whether he chose to try and get it included, and whether D&P were desperate enough to agree to it, is another matter.

      • HJC

        You know everything was fine and dandy until those investigative reporters (an endangered species in Scotland) from foreighn shores showed up and poked their noses in. All we used to do was have a few knuckle shuffling handshakes, a few private meetings down the lodge and everything was fine. When old George was at the helm of the SFA there was none of this upety behaviour from the peasants across the water. Yes I do admit the carpet was beginning to bulge a wee bit and we had to buy a new broom as the old one was wearing thin but now, heaven forbid, it’s all seeping out and the prognoses does not look good. I know some of the brethern still have their heads stuck firmly in the sandpit, or somewhere else where the sun doesn’t shine and are refusing to face reality but I do feel right down to my orange sash that it’s going to get a lot worse before it gets any better and the marching season will be upon us soon and people will just stare point fingers and laugh at us. All this is a far cry from how we used to do things, can’t anyone keep a secret anymore, where do these internet bloggers get their information from, ah well onwards and upwards, I am just off down to the monument at Drumcree for a wee blether with the brethern. Anyone seen Cambell lately? He’s been absent from the lodge for quite some time now, possibly putting his defence together, for what it’s worth

    • mick

      its tesco time

    • mick

      it could be no spl then sell to highest bidder at auction

      • Hugh Jarse

        Reports suggest that the to be liquidators BDO have already flagged concerns about the sale. Whilst they are not yet in a position to act any challenge to the sale effectively puts an end to Sevco United or any other Club playing football at Ibrox next season.

        I fail too see how the new club can possibly put a credible proposal to the SFL to join Division 3 next season, let alone the SPL.

        It’s game over for 2012/13.

        It will be interesting to see how the battlefield for some future new football club playing in Govan shapes up for 2013/14 or some other future season. I think there will competing groups on this front. I think it will be divisive. I think that the ownership of Ibrox will remain in dispute for some time and I don’t think we’ve seen the last of Craig Whyte.

        Omnishambolic.

  11. Marching on Together

    Reading that and your reference to Mr McCann reminds me of how shamefully a large section of the Celtic support treated him. I was there on the day the flag was unfurled for the league title, which stopped Rangers doing 10 in a row, in a brand spanking new stadium, and Mr McCann was roundly booed when he stepped forward to unfurl the flag. I was disgusted then and still am. In the light of everything that has gone on at Rangers since that day, I wonder if any of those who booed Mr McCann feel like apologising to him?

  12. Iain S

    Dear Mr McConville,
    your previous posts have been enlightening and educational. This post by Brogan, Hogan et al showed no more insight than I would expect from those posting on The Herald comments page. Please keep these amateurs off this site and return to your previous excellence in matters of law.

  13. Hugh Jarse

    Time is nearly up. There will be no football played at Ibrox next season.

    The information trickling out from reputable sources at the moment would make it impossible for SPL to even vote on the application by Charles Green’s new club. They have no players, lack a credible business plan and their asset purchase is facing a legal challenge of gratuitous alienation. Very easy decision on 4th July if there is a vote at all.

    Question is will it be Dundee or Dunfermline.

    The criminal side of things seems to be hotting up as well. Things are going to get very very interesting.

  14. Glazert Tim

    Although we jest that it is the Jim McColl from Beechgrove Garden fame, we may actually be on to something.

    If Tesco did buy the stadium, they also own Dobbies Garden Centres.

    Think of all that playing surface and the amount of overpriced fertiliser (£14 for Flo?)that has been on that surface for the past 25 years.

    Jim would be in his element. Although not so much barssicas more brassic at Ibrokes.

  15. degough

    Is it stating the obvious to say that Green’s potential investors are waiting to see what the outcome of the SPL vote will be before committing their money to the project? There is a big difference in annual income between the SPL and Div 3. Also the amount of time it will take for a return on the investment is huge. Green has had the 5.5 million to buy the assets supplied by a few investors and they are committed. Some of them have been named. It is also obvious that no more investors will be named because there are no others committed.
    This leads to a dilemma for the SPL. They are supposed to know before voting who the owners/investors of the club are. Green can only say who has provided the 5.5 million. The rest of the investors names will depend on the outcome of the vote!

    • Hugh Jarse

      Prediction time.

      Things will have unravelled so far by the time that we get to 4th July that there will be no vote on a proposed share transfer to Sevco.

      Notwithstanding that such a vote may be ultra vires, I just don’t believe that the Green consortium can pull a credible proposal to put to theSPL clubs.

  16. Possibly the vote on July 4th is already irrelevent if RFC (currently in administration and awaiting liquidation) have failed to satisfy membership terms – disclosure of audited accounts and financial statements.

    presumably it is still D&P that should be providing this as BDO are responsible for the liquidation but will also require the accounts for their investigation.
    So have D&P requested a further delay and has that been granted – the SFA would surely have announced that, so i assume not.
    Have the SFA further requested the required information ?

    What is causing the delay ?
    Are D&P unable to complete due to missing information (from CW ?)
    Have they found something (BIG !) that prevents them from completing ??
    Or have BDO found something ?

    I have this feeling that something BIG is about to hit the fan !

    Rumours have already began circulating the web – and it does not sound very good.

    • Hugh Jarse

      No you have been confused by the MSMs constant conflation of he different entities involved.

      Rangers FC (IA) have ceased to be a football club. Their accounts, etc are irrelevant.

      Rangers wish to transfer their SPL share to a new company – Sevco – that recently purchased a football stadium in Govan from D&P and wish to start a new football club and assume the former Rangers FC’s place in the SPL. They coincidentally want to call themselves The Rangers.

      This proposal SHOULD be given short shrift. The is no way that Sevco can bring a proposal to the SPL that fulfils the conditions for being granted a license to play in the SPL.

      Furthermore, I believe that Rangers SPL share and SFA membership should have been cancelled already as they have ceased to operate as a Football Club. If any of our governing bodies were to follow their rule books properly on seeking new applicants to fill the space vacated by Rangers.

      • Hugh Jarse

        Last sentence cut short.

        If any of our governing bodies were to follow their rule books properly on seeking to fill the space vacated by Rangers then the SPL would not be hearing the application at all and the SFL would reject it on the basis of not meeting the licensing conditions.

  17. Thanks for clearing that point up for me.

  18. Fuzzy Dunlop III

    Whatever the rights and wrongs of how we got here the New Rangers owners have stated they intend to run New Rangers on a sound financial footing. That would indicate they intend to match income to expenditure.

    If Rangers supporters want New Rangers to succeed – no matter what league they play in – they will need to buy season tickets. This will give the new owners the funds to put a team out on the park. Without the support of the fans the club will fail.

    There would appear to be a campaign in the media effectively encouraging the failure of Green. The idea that a, now debt free, club would try to match income and expenditure, and thus not get into the same mess as the old club, is portrayed as ludicrous. But why? A debt free Rangers have, on the face of it, the supporters to quickly get back to, at the very least, 2nd in the SPL.

    You would think after the trauma of the last year Rangers supporters would be happy with 2nd place, but it appears they are being encouraged to wish the new club fund its selve with debt, only this time from a wealthy benefactor and not the taxman. But benefactors, unless of the Roman Abramovich ilk, quickly get fed up pumping money into a football club, especially one that never makes it out of the group stages of the Champions League.

    If Rangers supporters want to watch a team in blue playing football at Ibrox they need to get behind Charles Green, who is completely different from Craig Whyte. In fact, the Sheffield United supporters complaint about him was he was too keen to balance the books and as a result sold the clubs best players. If only Craig Whyte had that philosophy a year ago the old club might still exist today.

    • Hugh Jarse

      “If only Craig Whyte had that philosophy a year ago the old club might still exist today.”

      If only SDM had that philosophy 3 years ago when Hector levied the bill related to EBTs. Rangers could have sold players, cut the wage bill and paid their debts, and perhaps avoided some of the interest and penalties. They might still exist today if they had.

      Unfortunately they would have been uncompetitive for a while so they CHOSE to go another way, both under Murray and Whyte’s ownership.

      • Fuzzy Dunlop III

        Fair point, but the principle still stands. The Scottish media are actively encouraging the supporters not to get behind the new owners whose stated aim is to run the club on a sound financial footing.

        Yes, that means even if they somehow remain in the SPL they will be someway behind Celtic. The fans should accept that but the media are portraying such a scenario as disgraceful management. The thought of offloading high earners is not portrayed as sensible management, but scandalous neglect. Why?

      • Hugh Jarse

        Who knows what the Scottish media are up to, buffoons the lot of them.

        And as for Charlie’s stated aims – its all hot air.

    • mick

      where is criag whyte hows he no made a statement ?it would be good to here from him

      • Hugh Jarse

        Interview with Alex Thomson next week according to Thomson on Twitter. I would expect this to throw a few spanners in the works, to say the least!

  19. Project William

    Apologies Paul if you have covered this with reference to Sky deal with SPL but if this deal specifically required Rangers in the SPL (and I’m not aware that the precise wording has been published) then regardless of who Club 12 end up being, the entity that is Rangers will cease to exist on liquidation and as a result could Sky then have grounds to re-negotiate the current deal (down)? Even if Newco/The RFC were voted in to the SPL on July 4th.

    • Hugh Jarse

      Good job that the Sky deal has no such requirements. How could it?

      • Project William

        But have we not continually been fed the line that there is some qualification to that effect?

      • Hugh Jarse

        Yes you have been “fed a line” to that effect.

        There is no way that a contract such as that could be written and legally enforceable. How can you contractually demand that certain clubs be in a fair competition.

        The truth is that Sky have the rights to show all OF games and ESPN don’t. Sky have publicly stated that they will honour the current contract and ESPN have expressed an interest in extending their coverage.

        The contract may come up for renegotiation for 2013/14 as the reported “lucrative” 5 year deal has not yet been signed. So be it. It is for the SPL to make sure that the product on sale is appealing to potential broadcasters.

      • mick

        rangers are dead there is no old firm sevco have no league or players greens a fantised with other peoples money its tesco time when the players say no sold to the highest bidder every1 remember ranger are dead and gone green has the assets brick and mortar thats all hes got no name players or league hes spent 5mil of other peoples money and when the soccer dream dies they will want to sell the stadium and murry park sky better start predicting who the new millianium firm will be we had old firm celt and huns then we had new firm dun.utd and aberdeen now its time for a new start .financial doping killed rangers .say sevco get in a league and sky offer x amount of money not every1 is asoccer fan people might say am cancelling sky sports it funds the bent scottish league as things stand rangers are gone company house is not making it up he cant use the name rangers for a year company house rules its hurdle after hurdle hes not fit enoght its over sky makes up 3% of celtics revenue old firm game value was worth more to the league big wigs and paid them nicly now the bubble is burst they will have to cut back to its time for some1 elses team to stand up and be part of the new top two a think utd will do it

  20. Boss Hogg

    The fall-out in the SPL from Rangers’ demise may already have started. Three weeks ago Aberdeen FC announced a year’s delay moving to a proposed new stadium on the outskirts of the city. Yesterday the club announced a major exodus from the board, including long term backers from Aberdeen Asset Management and an investment banker. The departure from the board of former club captain and manager Willie Miller was also announced but this is of less financial significance and may represent nothing more than score settling by club chairman Stewart Milne, who is not universally thought to be an admirer of Miller.

    Followers of this and other excellent analysis blogs will be aware that getting to the truth in club board rooms is very difficult. (We might idly wonder why this should so consistently be the case.) However, the uncertainty over future revenues resulting from the collapse of Rangers may have been instrumental in persuading AAM that the time has come to invest in something more rewarding. Wine and women perhaps. Alternatively, it’s all a coincidence!

  21. ian lewis

    The SKY contract has not been signed off so changes could be made.

    “Walter here can I buy Rangers for £6million?” “No, get lost.” “OK.”

    That knighthood can’t be far away surely.

    Incidentally in what other business would possible rivals expect the ones that have beaten them to it to disclose all their plans and financial arrangements?

    • mick

      well put ian its like cola shareing the secret recipie with tesco soft drinks ,your not towing the party line watp let us see it or a will batter you ,do think thats wit awlter said to green lol

  22. major clusterfunk

    Great article – and one that I could understand at first read. By the way, Soap had nothing on this comedy of errors.
    Thanks Paul

  23. Just a wee thought. Might Green want things to go belly up and then argue he tried to reconstitute Rangers but it didn’t work not least due to the other clubs and supporters of the old club not buying season tickets. As a result they have no alternative but to sell the assets separately. Ibrox would surely be worth a fair amount even for its offices and the leases particularly if they could attract a few stadium concerts. Murray Park could be sold as a sports club or even possibly to a local authority or central government to a facility for Scotland assuming planning wouldn’t be given for houses. Even in a worst case scenario the assets divided up and sold would presumably attract suficient for a handsome profit.

  24. Glazert Tim

    This whole sorry tale trully is ‘the gift that keeps on giving’.

    Two other spectres have emerged from the shdows with an alleged £11 mill burning a hole in their boilersuits.

    Messrs Stewart and McKenna of same property company fame (or should that be infamy) now enter the ring. What might you say is wrong with that? Well their firm wound up in 2010 (all hands on wallets) for ……………..yup , tax payment ‘issues’.

    Matron, pass my pills!!!!

  25. Brian

    Paul,

    After coming across this blog in the hope of learning something I find myself seriously questioning whether you manage the comments left here or if you allow any old rambling pseudo intellectual bigoted nonsense be posted. One awaits with less than baited breathe if you will even reply.

    Brian

  26. ScottyMac

    There is no sporting integrity in football, period! FIFA is an essentially corrupt organisation run by an arrogant egocentric who states he and football are” above the law”. The SFA are the robber barons who raped and pillaged QPFC in 1999. The SPL are an essentially illegal cartel, in terms of both the Competition Act, 1998, Chapter 1, and under Article 10(1) of the Treaty on the Functioning of the European Union. As Dermott
    Desmond stated ” a cartel is thwarting competition both north and south of the border. That’s not transparent, it’s not in the interests of football and something has to be done about it!” (2003). Not now, of course, since his club is one of two who, effectively, control the cartel!
    Furthermore the rules and articles of both Scottish bodies run, in part, contrary to European Court of Justice judgements in relation to sport ” where the activities are of an economic nature within the meaning of Article 2 EC”.
    So no surprise that they will do exactly what they choose, just as you do in producing your openly biased interpretation! Which is exactly how unscrupulous legal professionals milk the system!

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