The ties that bind Wayne Rooney, his wife and Charlie Green – Guest Post by Ecojon

 

And before any Bears have a heart attack I can reveal that Wayne Rooney coming to Ibrox is not on the cards and that’s OFFISHAL although he would definitely be an asset in SFL3.

Charles Green most certainly is a busy boy on his current European travels and today we take a look into his frenetic lifestyle flitting from safe house to safe house and joining Celtic fans on a birthday celebration, if only.

I know you might be expecting the exclusive on his trip to Geneva but that will come soon so be patient and wait and see whether he met-up with Swiss businessman Alessandro Celano who fronts-up the mysterious Blue Pitch Holdings and its invisible shareholders that the SFA are itching to identify to sign up as new SPL sponsors no doubt.

For today let’s concentrate on the multi-million court battle that a Formation Group Plc subsidiary had with Wayne & Coleen Rooney and another legal bun-fight with European football player agency Gestifute. OK settle down and get a few pies to hand and some Irn Bru in solidarity with our SFL comrades – you’ll need them  🙂 So let’s get the technical stuff out of the way before looking at the delectable Coleen and her rough diamond of a hubby.

Formation Group Plc was formerly known as Proactive Sports Group PLC and in July 2010 the Group acquired Proactive Sports Management Limited – a previously owned company which managed sports personalities – to assist with sports-related legal wrangles involving the Rooneys and Gestifute.

Prior to this in December 2009 the Group’s wealth management businesses were disposed of and then Formation Asset Management Limited was placed into creditors’ voluntary liquidation.

Formation Group PLC provides professional construction management services for property sector clients and high net worth individuals, primarily in the UK and ROI, and readily admits retaining competitiveness of the core property business required: Internal restructuring, wage freezes, redundancies and continued cost cutting for two years.

So where does Maestro Green fit-in? It’s really dead simple as he was the founder chairman of Formation back in 1992 when the company was floated and was recalled to the colours as non-executive chair in October 2010 presumably in a bid to inject fresh drive into the business.

Chairman Green gave a stirring speech to board members and staff and stated: ‘Your board are confident that the transformation of the Group is nearing completion. A clear focus following this period of transition will allow all employees to drive further improvements and shareholder value.

‘There is still much to do and Formation Group remains, for the moment, a work in progress. The Directors enter 2011 with optimism that we have the capability and determination to complete the turnaround of the Group’ although the chief executive officer announced that for the third year running no shareholders dividend would be paid.

But just over a year later on 22 February 2012 Formation Group Plc announced the resignation of Charles Green as non-executive chairman and director with immediate effect for personal reasons.

Formation Group’s unaudited results for the six months ending 29/02/2012 revealed a drop in revenue from the previous year’s £2,341,000 to £1,119,000 and an increased operating loss of £480,000 against the previous year’s £185,000. Loss from continuing operations was £491,000 or 0.24 pence per basic and diluted share against £185,000 or 0.09 pence for the same share a year previously. Loss attributable to equity holders of the parent was £537,000 or 0.26p per basic and diluted share against £287,000 or 0.14p for the same share 12 months previously.

Following the poor results, share dividends were again frozen and it may well have been that if Mr Green hadn’t already gone, shareholders would have made his position untenable.

But quick as a flash it appears Charlie was on his travels and popped up as  non-executive chairman of the Singapore-based mining investment firm Nova Resources Limited which he resigned from in early May 2012 to “pursue other business interests”.

Back on the road the Eagle landed at Ibrox just days later to bid for Rangers  accompanied by financial advisor Imran Ahmad of Zeus Capital who, in 2009, founded the London firm Allenby Capital Limited which Nova listed as an adviser and broker in several announcements. Imran is now MD of Zeus Capital and also on the Rangers board.

Charlie and Zeus have crossed paths before as the company provided advice to the Formation Group while he was in the chair and in 2009 advised on the sale of Proactive Sports Management, which Mr Green had previously chaired, to Gresham Private Equity for £22m.

But Charlie certainly didn’t waste his short sojourn in Singapore and managed to sign-up Jude Allen, a partner in the Kuala Lumpur-based Lumira Hotels Group, as a Rangers shareholder.

The Rooney court case made it all the way to the Court of Appeal who squashed a £4.3m claim from Proactive Sports Management. The court heard that Wayne, when only 17, was signed on an eight-year deal with Proactive by its founder and director Paul Stretford. Coleen later  “turned to Proactive and Mr Stretford” to develop commercial opportunities which came her way.

After Green quit Sheffield United he re-emerged in football as chairman of Proactive Sports but left in 2003 followed by Stretford in 2008 who launched a new management company taking the Rooneys as clients. Rooney stopped making commission payments to Proactive who claimed they were owed the money and took legal action.

The appeal court judgement ordered Wayne to pay £5,000 and confirmed the decision of the lower court which decided the Proactive image rights representation agreement made when Wayne was at Everton in 2002 was ‘a restraint of trade’ as the FA recommended maximum contract period was only two years. Coleen who was found liable to pay Proactive an increase in the compensation set by the original court.

After the verdict a delighted Wayne said: ‘”Coleen and I have always been happy to pay proper commissions to the people who are owed them. But Proactive’s claim for money after we left the company were a joke. Justice has been done.”

Stretford, now MD of Triple S Sports and Entertainment Group, welcomed the ruling and added: “Wayne’s legal team has said that the victory is so overwhelming that costs will now be claimed from Proactive.

“We were always surprised that a company which represents some of Britain’s major entertainment stars should want to see private matters like this aired in court.”

Legal anoraks and that means you Paul 🙂  check-out:

http://www.harbottle.com/hnl/pages/hnl09_eb_view/11936.php

http://www.judiciary.gov.uk/media/judgments/2011/proactive-v-rooney-judgment-1122011

For mere mortals wishing more info there’s a ripping yarn at:

http://www.rtbot.net/Paul_Stretford

And you will find the details of Proactive’s legal battles with the Gestifute Agency run by the Portuguese football agent, Jorge Mendes, which Portuguese players into British football at the same link.

Kenny Dalglish and Graeme Souness were shareholder in Stretford’s Proactive agency which brought Nuno Capucho to Rangers in 2003.

 

Posted by Ecojon

 

 

 

 

 

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64 Comments

Filed under Charles Green, Rangers

64 responses to “The ties that bind Wayne Rooney, his wife and Charlie Green – Guest Post by Ecojon

  1. ecojon

    A wee troll of the Darkside this morning reveals that Bears are spitting pie crusts that Green has claimed he has had to flee from safe house to safe house to avoid possible attack – not from Celtic fans but from Rangers fans opposed to his consortium.

    What is the Glasgow Old Firm coming to when puppetmaestros apparently have more to fear from their own fans than their traditionally rabid opposition.

    Well it seems the old balance and equilibrium is thankfully still in place as Green has been accused of telling porky-pies by the Rangers support (regular readers of scotslawthoughts and mick will hopefully appreciate the pie reference).

    But back to the mysterious travels and travails of Maestro Green – the bluenoses have indeed been watching him probably to ensure he was safe from others of the Green persuasion – and they have listed the various luxury hotels that he has been living in since arriving in Glasgow rather than the MI5/6 ‘safe houses’ that Green claims to have been haunting.

    I am beginning to wonder whether this man really is the international financial fixer that he would have us believe – by the day he is sounding more like a sad Walter Mitty growing ever more desperate.

    The bluenose twitchers have even postulated where his new flat, complete with sitings of that wily old bird which flies across the world on a wing and a prayer seeking backers and granny birthday parties, is located. However, I have no wish to see him come to harm and driven from Glasgow as we would lose the enormous entertainment value he has provided in a very dull and wet summer.

    What is really annoying the Bears, and I agree with them on this, is that the journos swallowing Green’s outpourings of pies – did I really write that – know fine well that he has been staying in hotels but Hey why let it get in the way of a story that denigrates all of Glasgow to the world. This man cares nothing about our proud city and even less about Glasgow Rangers and I hope their support wake up to what is happening to them.

    However, I would counsel him to take care about attending granny birthday parties as us natives know the minefield that you can sometimes stumble into when joining a stranger’s shindig when pies are washed down with wine.

    It would seem that the answer as how old Green’s granny is would be 60 from published reports 🙂

    Remember out there: When a polite birthday granny slips her teeth under a napkin to munch her grub – pie crusts are made to be broken just like Greens promises.

    • mick

      great read ecojon ave been on the phone to london all day and the d&ps are going to send me a email explianing it all ,bdo were well up for reading the article to lol asend them the backers article to 🙂

      • ecojon

        @mick – I take it you are discussing contracts with your agent Stretford – before we know it you’ll be buying out Desmond with the earnings from your new celebrity career. People won’t believe it when I tell them I knew you when you still ate pies 🙂

  2. degough

    After pondering the Blue Pitch Holdings conundrum I have come up with a theory. Here goes;

    To apply for membership of SFA all investors that own more than 15% (I think?) have to have the fit and proper test procedure done. Lets say Green has some investors that are over the 15% and do not want the test done. What does he do? The answer is to simply allocate 23% of the company to Blue Pitch Holdings. This has the effect of diluting the other investors share. Then the Blue Pitch Holdings share of the company can be allocated to new investors as and when they come on board. Nobody can do a check on Blue Pitch Holdings because they are in Switzerland where there is less company transparency than in other countries.

    Hope I am making sense?

  3. ecojon

    @degough – I follow your argument but believe it or not Switzerland has probably got better company registration legislation than the UK – it is the banking system which has the anonymity. Blue Pitch Holdings isn’t registered as a company in Switzerland but I readily accept that it could be an investment vehicle situated anywhere and probably have no need to be registered if it comprised of private investment clients and many have said they think it is tied up with Zeus Capital although there is no definitive proof of that.

    I am interested in the SFA 15% rule and I’ll need to check that and it may explain this vagueness of Green about % shareholdings which seem to be on an ever sliding scale but limited to 10% and coupled with a vague declaration of the sum invested.

    But I think you are on the money in one sense because I am hearing that Green is telling the SFA who is in charge of Blue Pitch Holdings but he is steadfastly refusing to name the individual beneficial clients comprising the Blue Pitch ‘syndicate’. Many believe that is because the Running Man from Delmonte (Interpol)’ is there. Contacts of mine are categoric that he is there although possibly not in Blue Pitch and they say his presence frightened off a legit Blue Chip investor who had £4.5 million to invest. That investor was honest and would have been good for Rangers but he has gone like the wind.

  4. ecojon

    I become ever more confused by the day at the statements made by Green.

    He now states his latest shareholder Colin Mather has invested £1 million and holds 10% of the shareholding and been ‘rewarded’ with a SevGers board seat. If I was Mather I would hold-off on my debenture purchase as you can never be too sure how long your name will last on an Ibrox seat or even if your bum will fit depending on whether you have partaken in Piegate.

    But doing the maths it would appear that as we approach the end of July the SevGers shareholding ‘pot’ totals £10 million. Now I know there were earlier promises of £20 and £30 million and talk of a £30 million AIM Flotation but the best laid plans of mice and men gang aft agley as we all know.

    So we have £10 million and that must be correct because that nice Mr Green, who dines with strange grannies, has told us that Mr Mather has put in a million – well just over a million but no exact figure has been given – and that represents a 10% shareholding and even at the Kafflik Skool that means 100% must be at least £10 million.

    Now, and here’s the BIG question – does the original purchase price of the oldo from D&P of £5.5 million + the £200K for guaranteed bidder + the additional £500K that Green is threatening to sue D&P over come out of the £10 million.

    If it does then we have 10 – 6.2 = 3.8.

    So there is £3.8 million in the pot and we don’t know how much of this has already been spent but at least one month’s wages have been paid out of it and another month is imminent. So when did the £3,8 million actually run out as I find it hard to believe there is any left.

    This means it is imperative that SevGers sell season tickets otherwise the operation collapses. Of course some other investors might imminently ride to the rescue dispensing wads of playdough (piedough actually) but is that really likely in view of the furor surrounding Green and SevGers.

    Of course there is another financial wrinkle in that the business plan for the takeover of the old Rangers envisaged that the first £10 million invested would be deemed founder investment which would confer the right to the group of individuals involved to double their shareholding and presumably profit. I seem to remember that the founder members would be granted this wonderful once in a lifetime opportunity for the ludicrously low price of £1 a share. So if all the founder members take it up that would produce £20 million total investment.

    And to bang an old drum of mine that means that ordinary fans would never be able to own SevGers as they would have to raise at a minimum +£20 million – obviously this would be variable but relative to the actual share price following the AIM Flotation so-beloved of Mr Green. The fans can never own SevGers anyway as Green has clearly stated that they can only buy shares up to 50% of the shareholding and I confidently expect that before any AIM Flotation that would be reduced to 49% or even lower. In any case it is legal to provide non-voting shares for fan purchase while leaving the founder shareholders with the voting stock. Nuff said.

    So who else can we actually identify as a shareholder other than Mather? Nobody other than Glenmuir who again have put in just over £1 million I believe. I don’t know if any of the Ruia family have been given a seat on the SevGer Board right enough – I’ll ask them when I get a minute 🙂

    To be fair the English-based Mather and the Ruia’s have good commercial reasons to invest in a football club. Mather has his sports agency and the Ruia’s supply sportswear so they probably see opportunities to turn a coin which nobody can object to and I don’t think they would vote for a Tesco if push camr to shove.

    But if you deduct 2 from 10 you are left with £8 million of shareholding where we are unable to positively identify the beneficial owner and given the Green Pledge – that stuff that makes everything shining bright and sweeps all the pie crumbs under the carpet – that 10% is the maximum shareholding per individual then that means there are 8 people out there who hold the balance of power in what happens to Rangers especially if it hits a financial brick wall as expected.

    They might not need to vote for Tesco they might be Tesco 🙂

    • On most of your points I agree, the problem for us is that when Mr green says “invest” I humbly suggest that the “investment” comes in a variety of forms and isn’t what we might recognise as “cash on the table”. The alleged £1m will be group investor with one name, why because less DD required by authorities and SFA, (back to the fit and proper again).

      Maybe with the group already in existence the investment will not necessarily go where you/me expect it to go……just a thought….

      • ecojon

        @michaelk1888

        I totally agree with you and also ponder the use of ‘placing letters’ pledging investment which might never come to pass. But enough to provide ‘comfort’ which often disappears when the cash disappears with a con man.

  5. An Investors view,

    As a stroll down lifes corridor and just for fun, I “loosely associate and work” with private equity investors from around the globe. My business has nothing to do with football but projects I am associated with require funding to the levels of $100m+ so comparisions can be made with Mr Green and newco. I know how difficult it is to get even the briefest audiance with people who are capable of putting that type of meat into a pie case…….oh no now I’m off…….. I spoke to many private equity investors worldwide last year when Whyte took over RFC and they told be that indirectly many of them had been approached and some had even made enquiries themselves but the business was so unstable that the house of cards was the best description any of them gave.

    Let me look at the type of investor we are talking about.

    Green in his meanderings, has since day one, and for the benefit of all day one was back in 14 th February when he was alerted to come to the resuce. ALLEGEDELY……… the following took place………
    D&P were appointed at CW request. HMRC stupidly conceded this point and this caused all the subsequest problems.

    D&P in my opinion, (and others) were playing the long game…..keep fobbing off everyone with imaginary buyers/offers until the GREEN KNIGHT comes rushing in. (Note the worldwide locations of the various “offers” and the key players historically linked with RFC). These actions were not as we all accept, even many rangers fans, in the interests of the creditors and therefore the mash & gravy, will hit the fan soon.

    This “saving” proposal took time to put together, namely 4-5 months (it is still a work in progress), as people had to be persuaded that there was an “investment” worth considering. Note I use the term investment……nothing else. These “people” are again in my opinion allegedly investors and serial company rapists, not sporting or football fans. Now making money from a business is all and good, CFC for example strike a good balance now in this. Listening in some way to the support but doing what is good for the club as a whole. Their near death experience should be a lesson for all, including newco.

    What is not acceptable, in football terms, is the spin of “investors” turning and churning companies with transferred assets and the only people who make money are the initial investor and the “agents” who are often the investors claiming fees and expenses and generally having a good time at the expense of employees, smaller uneducated investors and banks/and revenue services. (ask yourselves why newco sevco scotland could not open a bank account?? due dilligence by the bank failed?? fit and proper persons failed??? maybe the SFA should pay very very careful attention to the details of these “fit and proper persons” to own and operate and multi million £ business. I am sure others will.

    Anyway I drifted, thought of all these pies.., so D&P played the game along with their buddies at the SFA and SFL who likewise were going along to “save Scottish football” and having as we all know “off the record” conversations and communications with everyone who showed and interest, this again was either by collusion or deception a way of maitianing RFC in the league to keep earning and deliver the prize money.

    It bought the time necessary for Green, to put his “team and investors together”. We know that they have not still until now put all the cash on the table, mainly because they have not got it.

    The word on my street is that it was never going to be any more than £10-14m at tops anyway, but now that the business “model” has changed the investors are shying away from pure asset driven purchase with no visible exit, a necessary requirement for any investor. a more realistic investment is now per individual less than £200,000 and for groups max £500,000 to total no more than £6m including operating costs. Then they would consider securing the fixed assets and take a long term exit view.

    So we have the situation where Newco are currently operating at a huge loss month on month, WITHOUT, bringing in any new staf/players. Revenue streams will be massively lower, and has been pointed out in other blogs on here without the revenue it will mean that the business fails without question within 3-6 months. Additional penaties such as transfer embargo etc should not affect the club as they cannot afford now to buy any players never mind pay wages. The only short term solution is to liquidate assets such as MP and reduce operating costs. then a smaller leaner company may be able to survive and look to grow. NO Investor will look at this as a viable option form investment. Not an attractive investment opportunity……………

    Finally we have to look at the transfer of assets from D&P to Newco at apparently under value. £5.5-7m if Green is to be believed, when current financial director values on a “bad day” them at £50m. Nice piece of business for an investor……….10x overnight profit!!!1

    Now this is attractive for an investor…….but only if they are stupid enough or misled to believe that these assets will remain in the control of the newco.

    Believe me, investors at this level are not and they have their own people pull every single aspect of the deal apart before putting one penny into anything.

    Therefore Mr Green is currently travelling the world and he is been looking for support for a failed business plan that has no clarity no future and the only asset to speak of if under threat. The people who have laid out already are now seeking quick exits and so he has to replace the quickly.

    The sinking ship is the vision before him. Plug one hole and another opens, soon there will only be holes…….and unforunately two of the biggest will be where the once proud Ibrox and Murray parks stood.

    Crumbs left??? I doubt it, the only crumbs are what have been left over from Micks pies……..

    • ecojon

      WOW!

      Have you seen the DeStefano vid which is a hootn and totally defamatory as to what SevGer is all about but I have no doubt he would have a complete defence in Veritas.

      But people in the UK are more open to the expense and inconvenience of blocking/stalling legal actions which hamstring to an extent and divert energy for a short interlude although as many bullies find to there cost they also provide total privilege on what is said 🙂

      I am interested in looking at Green’s past business ‘achievements’ and wonder if you have any ‘skinny’ on Nova where there was a quick exit or even on Ancona where I think Allenby were possibly involved as advisors. Don’t know if Green was involved but he was apparently in Italy yesterday which sparked rumours on Rangers Media board that the Napoli owner would be in for Rangers – aye right.

      What about the names of so-called investors named by Green have you any details on them and the big mystery of who operates Blue pitch Holdings and who are the beneicial owners in it.

      Yea even if SevGers limped on I can only see an ever-increasening diminution of the shareholding and value as billions of shares are created and the initial ‘founding’ shareholders long-gone with their profit.

      Btw – why does Green almost make a virtue of his loud protestations that he isn’t the owner of SevGers and has no shares – I imagine there may be legal inplications especially with regard to Stock Exchange Rules but I don’t know the specifics.

      Great post though.

      • mick

        maybe a should send him acopy of pigate lol he would devo get his teeth in to it am going to enfact

      • @eco will provide as much verifiable info as I can, been trailing it for just over a year now so a lot has been disclosed already its the “jointco investors that are the hardest to track and expose as they just from company to company investment group to investment group. Still look what we have all uncovered already that the MSM have totally ingnored……happy days

    • M_A_R

      What’s in it for Mather’s Simply Sport Management though?
      He must be aware that Green’s numbers aren’t adding up and that SFL3 cash flow is at a high risk of drying up throughout the season?
      So why invest in youth development when one of the first things to go to raise some cash would be Murray Park?
      (More-so why invest when you’re primary business background is cartons and packaging, and running four race horses?)

      • ecojon

        @M_A_R

        All good points but then Green a company chairman Green worked with as a director has publicly stated that Green never showed any interest in football just the horses so we can only guess if the gee-gees are a mutual connection and I tend to find where you get nags you get bookies and if they are independent they might have cash to spare for investment.

        When people invest i anything you often only see one or two mentioned up front that there can be a squad of other investors chipping-in who remain in the background.

        I would like to make it clear that I cast no aspersions on anyone and am not saying that any of the people mentioned do in fact carry out the things I have hypothesized and indeed these activities can be entirely legal.

    • ecojon

      @michaelk1888

      OK let’s keep ploughing on

  6. degough

    I am thinking that July 30th is the crucial date. That is the day that Green has to write the check for 5.5 million to purchase the assets. I think it can go one of three ways.

    1 He has persuaded the investors to give him the cash and the fans to buy season tickets so that he has the 5.5 million and enough working capital to pay D&P. He then continues on his quest.
    2 He sells his “binding agreement” to whoever, takes a small profit and rides off into the sunset.
    3 He delays D&P for another month and we are back to then deciding if it will eventually be 1 or 2. He keeps up the good fight.

    Of course the SFA membership is vital. Also a shrewd buyer might be tempted to wait and see if Green falls from his horse. They can then buy directly from D&P or BDO.

    I hope its number 3 as I love to watch him duck and dive.

    • ecojon

      @degough

      Agree with most of what you say – But I thought BDO appointment was from 31/07. In any case if SevGer deal fails even if that delayed BDO appointment date then HMRC would petition court for removal of D&P and appointment of fresh administrator.

      Don’t know eneough about insolvency law and procedures to know I’m afraid.

      • Greg72

        A couple of thoughts here!

        1) What makes you think that BDO’s appointment is to be from 31 July? I’m just asking, as I don’t think I’ve seen that date mentioned before. However, it WOULD be interesting to know when BDO are to be appointed!

        2) The only event that I’ve heard of fixed for 31 July is the General Meeting of The Rangers Football Club Plc (In Administration) (‘TRFCPlc’) in order to change the name of the company to ‘RFC 2012 Plc’, thus permitting Sevco Scotland Limited to change ITS name to ‘The Rangers Football Club Limited’. In that regard, it might be interesting to see which shareholders of TRFCPlc attend that Meeting, whether in person or by proxy! In particular, I wonder whether the majority shareholder – The Rangers FC Group Limited (a.k.a. [informally] ‘Craig Whyte’ – will attend and, if by proxy, a proxy in whose favour?

        3) Does anyone know when the Joint Administrators are, in fact, to report to Lord Hodge? I rather thought that they were supposed to have done so by now.

        4) Just to remind everyone (!) – what about the creditors?

        5) My understanding is that the Liquidators will supersede the Administrators.

    • Grabthegrass

      My point on an earlier post remains – How come D&P have transferred the physical assets (Ibrox, MP and the car park) to Sevco Scotland, if they don’t have the funds from Green/Sevco or at the very worst they are locked away in some solicitors account. It would appear to me to be gross negligence on D&P’s part if they have already given away the assets on the basis of promisory notes. On that basis this doesn’t wash for me. Section 4.6 of the latest D&P report states quite unequivicoly that “..an amount of $5.5M RECEIVED from Sevco in relation to it’s acquisition of..the company..” I think we need to move on from the question “have Sevco paid?” to others such as where is the working capital coming from?, who ate the pies? that sort of thing ;-).

      I think the real issue over July 30th is the monthly wages bill and presumably the bill to HMRC. Given the past payment issues with “Rangers” they have powers to demand money up front for tax. Does anyone know if they have? Either which way I can’t imagine Hector waiting for 9 months this time before pulling the plug. Maybe non payment of wages or taxes becomes the reason for the SFA to prevent registration of new players?

      Interstingly the latest creditors report includes a payment from everton for Jalavic and also notes that further sums may accrue from “ongoing litigation”..However I can’t see any notice made about any further payments due from debtors – has this been transferred or will that become part of the final liquidation?

      • Grabthegrass

        Actually section 7.5 & 7.6 of the creditors report indicates that the outstanding football debts remain part of Rangers PLC (IA) and will be collected in due course. They could be a little more explicit though….

      • ecojon

        @grabthegrass

        The D&P interim report shows:

        Exclusivity Fee 200,010
        Taylor Wessing Client Account 5,300,000

        So I assume that’s the £5.5 million – but is it cash or a letter of intent from another lawyer that’s in the account. Let’s remember what happened with Collyer & Bristow.

        As to the transfer – well has that actually happened? Bomber Brown although incoherent at times has people near him who are very suss and I noticed last night that Bomber is still demanding proof of the title deeds and states that Brown is still blocking access to them. Even if deeds have been transferred has some some of charge been put on them? We just don’t know but it will come out in the wash although the collapse may come first.

        On Jelavic they I posted about that a few day’s ago and noted that the way the report reads it’s quite difficult to work out where the £2 million balance ends-up. It would seem criminal if it went to SevGers but Rapide Vienna seem convinced that is or will be the case and they have made a formal complaint to Eufa/Fifa calling on an investigation.

        Also worth looking at the first report as some stuff in the second becomes clearer although, to be fair, some becomes more confused and opaque but then I ain’t an accountant. And strangely that is the core of Bomber’s complaint because Green has only shown the asset ‘proof’ to two RFFF guys who have said it was fine. One of the guys has no professional type experience I am told and the other is Bomber’s accountant of all things 🙂

        But Bomber isn’t as mad as some are trying to portray them as he declares: If I was buying a hoose and wanted deeds checked I wouldn’t go to my accountant, I would go to my lawyer.

        ‘It is not yet reported what the opinion/private opinion Bomber’s accountant holds on his client investing £40K of his own money in fighting Green’s Consortium. Bomber has put his own cash where his mouth and heart is as opposed to Green who openly admits as if it is a badge of honour that he hasn’t invested a penny in the club. But maybe even that isn’t quite true as he did say he took £1 from his pocket and handed it personally to Whyte so he could profit on the deal for selling his Rangers shares to SevGers as he had already received a £1 to cover the price he paid to Murray for the shares presumably from SevGers.

    • degough

      ecojon and Grabthegrass I know for a fact that Green has not paid the 5.5 million. At a fans meeting a while ago he said he has 3 million in the bank and the promise of a further 2.6 million due soon. I doubt if this 5.6 million is as well as the 5.5 million due to D&P.

      • ecojon

        @degough

        Was that the RFFF meeting? The problem with Green is that every time the tale is a bit different. I’m not saying that makes him a liar as it might just be down to the pressure he is under. But it means that nothing he actually sayd can be taken at face value – everything needs to be backed-up in writing and even then it’s a microscope and thesauras job to determine if the words he is using have the same meaning as you have.

        He’s been panhandling his way for a long time and is good at it and I have come across similar before so recognise the type. Doesn’t make him a crook or even a bad guy but, at the very least, someone that you get the long spoon out to sup with.

      • Grabthegrass

        As ever the devil is in the detail and I hadn’t spotted the client account bit, however this is in D&P’s own solicitors (taylor wessing) client account so one would assume that it is as good as you would get. However why is it in their account and not Rangers PLC (IA) account? It may be there with conditions, but I would then assume that the properties would then revert back to RFC Plc (IA). It may all be clear one day, but I think that day is a ong way off….

      • I would suggest that the £3m is deposited in client account with strict undertaking requirements to be satisfied before release. The requiremnts of release could be anything and amended by the owner of the funds through his solicitor at any time with notification/agreement to the other side so while there may be £3m or £5.5 m available as far as any undertaking is concerned the funds may as well be sitting on the moon.

        Consider if the funds can only be released if newco play in SPL or SFL1 or SPL2, then they have the money but not the ability to release as conditions have not been met. I would suggest that initial investors have in fact placed commercial terms on the release of funds and as these are not fulfilled then the funds will be recalled, therefore “new” investors/investor groups are sought to replace then.

        Sorry no pie jokes this time…..:(

      • ecojon

        @michaelk1888

        Yea the investors would have been mad not to have tied-up their cash release without conditions but many could well be foreign and genuinely not have a clue about the structure of Scottish Football. Then there is the possibility that there are shared agents between various parties which might cause problems not, of course, that I would suggest any impropriety or lack of professionalism just that sometimes unforseen conflict of interests can arise.

        But we don’t know what the terms of the agreement are between D&P and SevGers as they are confidential. I keep having an old refrain from Contract Law 1 passing through my brain viz something like one of the essential elements of a contract is that the consideration must be real but not necessarily adequate. So, I wonder what happens if SevGers don’t have enough money to pay the full amount and offer much reduced consideration. Can D&P accept it or does insolvency law or rules and regulations kick-in. D&P would be in the shit but I suspect they might be in the shit anyway when BDO come in and start looking for the missing pies – couldn’t resist that 🙂

  7. Alex Moody

    “Kenny Dalglish and Graeme Souness were shareholder in Stretford’s Proactive agency which brought Nuno Capucho to Rangers in 2003.”

    I’m just going to stir the hornets nest here…..

    Was Dalglish a shareholder in Proactive when Celtic bought Scheidt?

    Did Dalglish get paid an EBT when he was “scouting” for RFC(IA)?
    Was he a Proactive shareholder at that time?

    Were the payments through an EBT to Souness related to his shareholding in Proactive? and therefore able to leverage transfers from RFC(IA).

    • ecojon

      I would say anything is possible with Stretford but I’m afraid I have no wish to touch on ‘Shite’ as it brings too many painful memories 😦

      Info might be there in Public Records but would take a lot of digging.

    • mick

      great point wee kenny might want to clear it up email and ask him???

    • Ernesider

      Hi Alex

      More like shit stirring that hornet stirring to me.

      1. Have you a shred of evidence to back up your questions?

      2. Would the people mentioned have done anything illegal, if the answer was yes?

      Get some facts together and post them here. Rangers, Celtic, Liverpool Legends, it makes no difference on this forum. Publish and be damned.
      Unsubstantiated inneundo, however, just doesn’t cut it.

      • ecojon

        @Ernesider – very fair point as usual. I have been told a lot about Green and his compadres but can’t prove it so I bide my time and keep digging as do others.

      • Ernesider

        Just spotted Harry Redknapp on TV at Open Golf Championship.
        Now there’s a Guy some former members of the Rangers Board of Directors should be studying. Or maybe have been?

        The Harry Redknapp Defence

        Basically “I’m borderline disabled, jaysis how can I be expected to track all of this funny coloured paper stuff, it’s really your own fault for giving me access to any money in the first place”.
        (Thank you Sync)

  8. ecojon

    I’ve always believed that if you do enough digging then you can unearth interesting finds and indeed I have just discovered where a lot of bodies are buried and a very interesting skeleton.

    To be continued but pls be patient 🙂

  9. Ernesider

    Home Of The Blues
    (Ally McCoist)?

    Just around the corner there’s heartaches
    Down the street that losers use
    If you can wade in through the teardrops
    You’ll find me at the Home of the Blues

    I walk and cry while my heart beat
    Keeps time with the drag of my shoes
    The sun never shines through this window of mine
    It’s dark at the Home of the Blues

    • ecojon

      @Ernesider – it’s only dark cause they can’t afford the leccy bill. Btw I assume you are writing the score for the flute accompaniment.

      Not quite up to mick’s Piegate but one of my totally unreconstructed golf-playing Celtic mates has just texted me and probably a million others: ‘Tru Blues don’t do medal competitions’. I don’t do golf but I think I get the drift.

      • Ernesider

        Hi Ej

        Even though my religion has lapsed a little over the years, I would not wish to offend anyone by indulging in blasphemy.

        However can’t resist pointing out that there is one called a “Miraculous Medal” also known as the “Medal of the Immaculate Conception” to which they should be directing their prayers at this moment in time.

      • ecojon

        @ernesider – I would think St Jude might not only be a better fit but might even be acceptable to our brethern down by the River Clyde as he is often depicted holding a Carpenter’s Rule and indeed is currently the Patron Saint of a Brazilian Football Club. If SevGer adopted this Patron Saint of Lost Causes then they could arrange a friendly with their South American cousins – sell tickets to Celtic fans and get the TV in as one of the televised Old Firm matches manufactured to get round Rangers being in SFL3. Oh what jolly japes and money can be raised with a bit of brass neckery as Mr Green has demonstrated.

        I will keep my all-seeing ‘EYE’ on the personal columns for any notification of intercession success as I doubt there will be any reporting on the news or sport pages.

  10. ecojon

    http://www.dailyrecord.co.uk/football/spl/rangers/2012/07/19/probe-into-rangers-title-wins-to-be-carried-out-by-independent-commission-86908-23910039/

    Apparently independent commission to probe Rangers title stripping starting in August and as well as power to remove titles can also order the revision of club history.

    Not really sure about the rewriting as it looks like a bit of Stalinist Revisioning and rewriting history. Maybe the honour board citation should read: won 19canteen removed 2012. But that may cause further offence and annoyance to Rangers fans who can hardly be blamed for this particular aspect of management financial doping.

    Medals must be left with Rangers players (part of their personal history, pride and effort. Not really sure how I feel though if the player benefitted from an EBT it’s something I would need to think about rather than make a snap judgement) There is an argument for new medals to be struck for the players of any club which moves up into top slot.

  11. Just a thought, but would I be right in thing that we’d have known a helluva lot more, a helluva lot earlier, if our intrepid brothers in the press had turned their phone-hacking skills to this story?

    • ecojon

      @Kenny McCaffrey

      Kenny the real sad thing is they didn’t need to hack phones they only needed to check public records. But it really was like Whyte all over – they were all over Whyte and Green licking their arses for easy stories and trying to be the one that got a special relationship so they would get all the exclusives. No wonder Whyte’s head was wasted and as for Charlie I think his head was wasted before he arrived.

      He makes it up as he goes along and most of the press ignore it – he then attacks our City of Glasgow with his tales of hiding out in ‘safe’ houses. The press print that shite but they know what luxury hotels he’s actually been staying in – some safe hoose and the journos should hang their head in shame. They have been conned albeit willingly by the SevGer PR machine and the sad thing is that is probably based in Glasgow.

  12. mick

    green seems to be well in the business limelight ,when a read the artilcle and seen souness and capcho the ebt sprang stright to mind this could be a can of worms to

  13. JimBhoy

    Journalist(s) of the year to the faceless ‘Internet bampots’… Wealth off the radar my @rse…

    I wonder if Green is seeking council in Rome with the holy father to pray forgiveness for all past hienous deeds of the Ibrox club…

  14. ecojon

    Just happened to notice on Companies House:

    Green director in:

    Company Name Company Status
    RFC 0712 LIMITED Active
    RANGERS MEDIA INVESTMENTS LIMITED Active
    RANGERS MATCHDAY SERVICES LIMITED Active
    RANGERS YOUTH DEVELOPMENT LIMITED Active
    RANGERS FINANCIAL SERVICES LIMITED Active
    RANGERS.CO.UK LIMITED Active
    THE RANGERS SHOP LIMITED Active
    SEVCO SCOTLAND LIMITED Active
    SEVCO 5088 LIMITED Active

    • Now all you need to do is find out which asset sits in which company and where the operating funds are pushed through and which company will fail first………….or just wait

      • ecojon

        I have a vision of the Ibrox pitch covered up 50 feet deep at some point in the future with billions of shares worth 0.000000000000000001p chucked there by the fans – a real Bonfire of the Vanities and I don’t mean the fans when I say that.

    • mick

      wow thats a lot of companys ,hes chopped it well up already by the looks of things ??

  15. ecojon

    http://www.scotsman.com/news/scottish-news/top-stories/craig-whyte-threatened-to-send-in-heavies-to-recover-his-bentley-from-ex-wife-court-hears-1-2421369

    Court hears Whyte threatened to send in heavies as wife tried to get her maintenance money off him. It is just madness the way this story keeps sprouting arms and legs

  16. I know that if I had a medal that I knew was was gained illegally through my clubs shenanigans I would bin it or put it on e Bay as a bit of memorabilia for some deluded souls who still live with their head in the clouds (sevco- rangers). In either case I couldn’t be proud of it far less pass it off as a ”winners” medal; for shame. Anyhow, supporters from all over the world will know these players and the REAL value of these medals (scrap value only) and will not be slow to mention the fact that they were gained by cheating. Now is that an experience anyone would be willing to risk? These tainted medals will need to be hidden away for ever lest they get found out and accused publicly. Oh’ the shame of it all. It would only be a matter of time before one of these tainted medals came to public light and then the proverbial will hit the fan again and their embarrassment will be insurmountable. . . tainted medals, tainted medals, tainted medals will be the cry.

    • ecojon

      @dombhoy67

      I genuinely feel this is a personal matter for the player involved. I haven’t thought it all the way through but I think if I had won the medal without having been paid on the side with an EBT and had paid all my tax then I would see no problem. But we really are jumping the gun a bit – we have to wait to hear the actual facts and evidence and then we will all be in a better position to make a balanced judgement. Obviously if a cup/title is declared to be tainted through financial doping and the penalty is to remove it and hand it to the original loser/second place that is a punishment against the club and the fans and a smear on the history.

      Do you honestly believe that the club bosses/owners who have now departed will give a hoot about the shit they have caused. And as to the EBT players if they receieved assurances that what was happening with EBTs was legit should they lose their medals. And that is another point – we don even know yet whether the EBT will be declared legit or illegal by the HMRC so personally I think it is cool jets time till we get all the facts.

      I suppose I see it a bit like a relay team that wins a race and later one of its members is caught by a drugs test. OK so the team retrospectivley has the win scrathced and every other team moves up one. But as to medals for the race I believe that the clean athletes should keep theirs and only the drug user should have their medal taken away IMHO. Then there is the possible problems in the mechanics of retreiving medals especially if an athlete/footballer is no longer active/subject to any registration or simply says they have lost it or destroyed it out of shame.

      • scunnered wi this saga

        If one member of a team has cheated then the whole team must lose any medals won as the whole team has gained an advantage as you can’t isolate the cheats performance from that of the team as a whole. In the relay team example, this happened to the GB men’s 4 x 100m when Dwain Chambers was subsequently found to be a drugs cheat. In those situations, I feel for the rest of the team.

  17. mick

    no wonder she left him

    • JimBhoy

      The man is a rodent.

      • mick

        the women has children to run to school and shops its sickening a hope he ends up in jail ,a think thats the first ave heard of a man wanting a car back in a split shooking wit a day were haveing it 1 massive scandal after another

  18. mick

    bluechip holding info gio wants his dosh back big aligations made

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