Rangers Interim Results – Everyone at Ibrox is Very Happy – What About Asset Revaluation?

A brief note (yes – it will be brief).

Rangers International Football Club PLC’s interim results are out and can be read in full here.

People will pore over them but is seems clear that all is well on the Good Ship Rangers, and that Captain Green, Commodore Murray and First Mate Stockbridge are steering a course as plotted in its business plan and flotation document.

There is one squall on the horizon that I want to mention at this point.

As with weather approaching a vessel on the high seas, it might change course, missing the boat. It might blow itself out before reaching it. It might even turn out to be a smudge on the lookout’s telescope, and not there at all.

The squall goes by the name of BDO, and more particularly “gratuitous alienation”.

I have mentioned this before, at some length, but put very briefly is as follows.

A liquidator can challenge an asset disposal if he considers that “adequate consideration” was not paid for it. This does not require any underhand or dishonest action by the vendor or purchaser. It is one of the few times when the courts can intervene to protect someone from a bad business deal, in this case protecting the creditors.

Sevco Scotland Ltd, now Rangers Football Club Ltd, a part of RIFC PLC, bought all of the assets and business of Rangers Football Club for £5.5 million in June 2012.

According to the Interim Results posted today, the assets were revalued “on acquisition”.

The relevant paragraph reads:-

A revaluation process was undertaken during the period; Ibrox stadium and Murray Park were revalued at £40m, and intangibles were valued at £19m on acquisition.

So, ignoring everything else, including the cash and rights to money which Sevco Scotland Ltd bought, it now treats the fixed assets as worth £40 million, and the intangibles as worth £19 million. (Remember that the “intangibles” were sold by the administrators for £1).

Will BDO, acting for the liquidators, decide that a sale price of £5.5 million was “adequate consideration” for assets revalued immediately at in excess of £59 million? Is that in the interests of the creditors?

If BDO do nothing, then Mr Green will deserve the title of Businessman of the Decade, not just of the year!

If asked to guess what will happen, I think that BDO will raise the issue and that RIFC PLC will use some of its accumulated cash to settle at an early stage. If, and this is a guess, BDO found that it could get, say, another £10 million for the assets from RIFC PLC to conclude matters, I see little reason for them to engage on a long drawn out and expensive court battle to get more, and I would see RIFC jumping at it, to end any further issues.

Posted by Paul McConville




Filed under Charles Green, Insolvency Act 1986, Rangers

546 responses to “Rangers Interim Results – Everyone at Ibrox is Very Happy – What About Asset Revaluation?

  1. jocky bhoy

    Budweiser March 5, 2013 at 11:42 pm
    “Heard the man u fans singing ‘hello. hello’ – is this the same song as up here, or same song without the bigotry.”

    I believe they sing “Hello, Hello, we are the Busby Boys,
    And if you are a City fan,
    Surrender or you’ll die,
    We will follow United”
    Same tune, same violent undercurrent, no bigotry per se. Same hatred of the big rival. I was at Roy Keane’s testimonial at Old Trafford and the Celtic fans started singing “Walk on” and one bhoy sitting in the “wrong” end stood up and started singing. A United fan jumped out of his seat, ran down a couple of rows and decked the guy. See – you can have “rivalry” without bigotry….

    As for the red card last night, again Keane called it right – ironically its all the guys who never played for United that are the cheerleaders. Nani kicked that guy full speed in the chest – that’s dangerous play – he could easily have broken theguy’s ribs or similar. As for Jose’s “the best team lost”, his handshake and leaving the pitch when there was still time on the board – the guy’s a PR genius – and he wants to manage United at some point…

  2. ecojon

    Rangers International
    -0.60 (-0.77%)
    Real-time: 11:04am GMT

    Slide continuing and some share discussion boards speculating that share price could hit 76p which was the initial trading price on AIM launch date back in December. The high point in early January was 94p but it has consistently slid from that price.

    Obviously doesn’t affect fan shareholding as they are unlikely to sell – I think it’s too early to say whether Ibrox choir members will get rid of their shares but perhaps they like many others probably think that Chuckles isn’t too serious about his threats.

    Also those who bought shares at 1p in the main are unable to sell because they are locked-in for periods up to 12 months. Of course those who bought at £1 a share must be wondering how low it can go 🙂

    In the early giddy days as the shares were climbing towards 94p there was much talk of market cap – which means nothing very much – but it seems to be another subject which is no longer discussed on the Darkside as it falls in line with the share price.

  3. Raymilland

    In a ‘year without summer’; a morality tale of death and rebirth arose from the shadows of old Glasgow town.

    The actual names of individuals shall be altered to protect the guilty innocent.

    A once proud football institution tragically gasped its last breath. The mortal remains were hurriedly interred in an underground vault only then to be snatched during the twilight hours by Victor von Frankengreen.

    In the dungeon of his castle; Victor; with his grotesque assistant Igor; frantically work through the night to fashion an ungodly creature from reclaimed cadaver parts. With his laboratory prepared; and copper electrodes clamped firmly in place; a powerful electrical storm did unleash right on cue.

    Igor forced down on a lever directing a massive surge of electricity through the body of the creature; its body seized violently; lurching back and forth, current being circuited via whirring glowing transformers…… then all at once there was stillness. The electrically charged air had a sulphurous odour; most shockingly; the once lifeless fingers of the creature now began slowly to sense its surroundings; Victor held his breath; for a few short seconds; then shrieked manically; “It’s ALIVE I tell you! ALIVE!!

    Igor nervously licked his lips and uttered; “Of that there can be no doubt master, it’s a minor miracle, to be perfectly honest with you, I thought it was a non starter” (Igor had a panache for understating the enormity of the truth).

    Suddenly the creature jolted from its life bearing cradle; its huge frame cast a shadow over its creator and his minion. It tried to speak; the dry sinews crackled and then a voice began slowly to resonate….. “Who… am… I?”

    Frankengreen spoke firmly to his creation; “Your name is Sevco 5088, have you no memory of the past?”

    The creature stared blankly then groaned; “Mmmmmmmmm…..yes, a hamper, many hampers stuffed with legal tender, wad upon wad, being loaded onto a vessel bound for the Caribbean.”

    Victor turned in dismay; “Get the electrodes out again Igor; the bugger remembers too much.”

    Just then; a loud banging upon the castle doors disturbed the devilish encounter. One villager had earlier that night witnessed the unholy excavation and had sped the length of the Gallowgate to muster a crowd from the ale houses thereof.

    Rumour had spread of an attempt to reanimate their once great rival from across the river. As the fervour mounted the torch bearing villagers managed to unhinge the huge timber doorway of Castle Von Frankengreen, the crashing sound was met with loud cheers and a chorus of ‘I just can’t get enough’.

    The angry villagers descended a dimly lit stairwell leading them to their quarry.

    Igor greedily gorged on a meat pie; one that had escaped the stampede, his hunched figure hardly noticed; all eyes were fixed upon the creature now before them.

    The monster emerged from the shadows, the bright light from the torches causing it to momentarily pause, and then advance further with its big ‘ands outstretched.

    A young man by the name of Mick yelled “Kill the beast”,
    Baron Von Frankengreen then stepped between his creation and its tormentors, with the intent to do what ever it takes to protect his investment.

    “You get nowt for nowt lad, who’ll gimme two quid?

    The creature was saddened and struggled with its own self worth; as a torch came nearer; the beast grabbed his maker and swung him like a shillelagh, the crowd opened while the Baron was propelled over the castle battlements onto the rocks below.

    In eerie silence; the remaining villagers looked down upon the fatally injured alchemist; he tried in vain to raise his big ‘ands. With his final breath exhaled; Baron Victor Von Frankengreen was heard to utter the immortal words; “Make it a quid and it’s a deal……..”

    Ultimately, the villagers showed mercy toward the beast.

    Rumour has it; the creature was last seen lashed to a vessel sailing from the port town of Stranraer.

    Mary Shelley eat you ‘eart out.

    Post comment by James Traynor:
    The moralality of the story is that the creature required kindness and sympathy; but did not believe itself utterly unworthy of it. The creature believes himself capable and even worthy of both emotional and psychological reciprocation and, by extension, capable of existing in harmony with the rest of humankind.

    Desire for acceptance and integration into society; the creature did learn; such was the history of the beloved villagers it impressed the creature deeply. He learned from the views of social life which it developed, to admire their virtues and to deprecate the vices of mankind.

    Through their unknowing example, the villagers serve the creature as teachers, imparting a sense of morality and virtuous behavior through simple human interaction.

    If only?

  4. ecojon

    Rangers International
    -0.60 (-0.77%)
    Real-time: 11:04am GMT

    Slide continuing and some share discussion boards speculating that share price could hit 76p which was the initial trading price on AIM launch date back in December. The high point in early January was 94p but it has consistently slid from that price.

    Obviously doesn’t affect fan shareholding as they are unlikely to sell – I think it’s too early to say whether Ibrox choir members will get rid of their shares but perhaps they like many others probably think that Chuckles isn’t too serious about his threats.

    Also those who bought shares at 1p in the main are unable to sell because they are locked-in for periods up to 12 months. Of course those who bought at £1 a share must be wondering how low it can go 🙂

    In the early giddy days as the shares were climbing towards 94p there was much talk of market cap – which means nothing very much – but it seems to be another subject which is no longer discussed on the Darkside as it falls in line with the share price.

  5. peter

    Evening times poor journalism, Charles Green lazy with information. The top heading shows Demba Ba was a free tranfer and the bottom quotes green stating he was bought by Newcastle.

  6. mick

    good afternoon every 1, Top read ray comment of the month sums it up perfectly lol ,what a night lAst night am still breathless after the Manu and real Madrid match its was good to watch a match with no emotional attachment no 1 mentioned the real goal chopped of for of side when you could clearly see it was onside in replay Manu were no way the better team at first a wanted Manu to win due to Glasgow manager sir Alex lets hope tonight the team away in Turin win 2 0to Celtic hooper misses a penalty with 2 mins to go but hay that’s show business lol

  7. ExiledBairninFurrybootsCity

    There was a sequel to Raymillands morality tale in which the evil / misguided doctor created a mate for his monster.
    Who on the current Ibrox scene will take Elsa Lanchester’s part?

  8. cam

    Here everybody,can we just cancel all our posts to this blog?
    Paul laid out a perfectly good bait and we have collectively destroyed it.
    I must put my mitts up as a contender for half wit of the year ,and shall out of respect, give it a rest for a week.
    The clever chaps want their site back and its only good manners to let them discuss serious ways of depicting Rangers as the anti christ.
    I have managed to strike up a rapport with the CFC supporters club in Guatemala,and after an initial post of mine entitled The Effects of Quantative Easing in Banana Republics and RFC’s role in the downfall of the Mayan culture,the chaps there have made me most welcome.
    I shall return in a week with my findings and hopefully some shrunken twisted melons.

  9. mick

    @mcfc just to be there was great for us we can look forward to the next 1 in august hopefully just as successful we have double on the agenda but dundee utd in the semi of scottish cup will be tricky theres a big crowd out in turin today so hopefully any kind of win just for them will do me fine and as samaras said its not over till the final whistle so it will be intresting lets hope rome as emailed juve to easy on the timmy brothers from the north lol that will be leggos headline if we win 5 0 lol

  10. lordmac

    is this the same wee guy we all know

  11. mcfc

    BBC journalism – not biased – just utterly inept

    “The English champions went on to lose the tie 3-2 on aggregate”


  12. mcfc

    re-posted due to random positioning

    BBC journalism – not biased – just utterly inept

    “The English champions went on to lose the tie 3-2 on aggregate”


    • Wasp


      Easy mistake to make – the press are just so used to mufc as champions !! A mere slip of the finger on the keyboard to the default position ……..

      • mcfc


        If they don’t know who won the premiership they shouldn’t be getting paid for writing about football – unless they want to pay me to write about fashion and alternative medicine – or make than any medicine or anything alternative – I can do that – gizza job

        • Wasp


          I wasn’t being serious ! Of course it is sloppy but what do you expect from the press. If I could have a pound for every time I have seen mistakes in reports or photos with the wrong player referred to etc etc, I would have more time on my hands to post on blogs like this ……..

          Also, not often that City win the league so a mistake like that is a double whammy for you as well !

        • Marching on Together

          The Manc scum suffered a complete shock when they came upon a ref that for once did not give them every decision they want. A more pitiful display of diving, whinging, hacking and moaning I have never seen. Ferdiscum should be banned for his actions to the ref at the end.

          • Wasp

            Looks like it might just be Surrey Heath again this year…hope that doesn’t give you an ulcer !

            • Marching on Together

              As you know from being on this site, a title bought by cheating, diving and aggressively intimidating refs has no value whatsoever.

            • Wasp


              You have lost me, sorry. Which title(s) are you referring to and who won them ??

            • Wasp

              I know you said you weren’t a bitter Leeds fan but you certainly do a cracking impersonation of one !

            • Marching on Together

              Bitter is what we drink in Yorkshire. Bitter is what Mancscum fans are after Tuesday night.

          • mcfc


            total embarrassment to football.

            I think there should be a 2 metre exclusion zone around the ref – yellow card for breaching – except for players invited to speak to the ref. Ferdinand should be punished for his behaviour after the whistle – undermined any pretence of fair play, respect and sportsmanship.

            • Marching on Together

              Been doing this cheating for decades, being coached to do it by Fergiescum, and being getting off with it. The sooner Fergiescum is banned from football for life, the better for the game.

            • Wasp


              From one of your later posts, I suspect you are not a Celtic supporter. Given you indicate that you have no time for cheating, it is unlikely you are a Rangers fan. I would be fascinated to know which team you support.

            • Marching on Together

              Been a Leeds United supporter all my life. Being brought up in Scotland, my Scottish or diddy team was Celtic.

            • Wasp


              Ah, I now know where your love for Surrey Heath stems from !

              As I recall Leeds Utd had a fairly ropey reputation in the 70s for their approach to the game. I think there was an element of truth in Cloughie’s view of the team in those days and it doesn’t strike me that the present Man U outfit are quite in their league when it comes to intimidation etc.

            • Marching on Together

              Clough – a drunken bully who liked a bung. Leeds had nothing on the current Mancscum team when it comes to diving, cheating, intimidating etc. Leeds were never coached to dive, as Mancscum players are.

            • Wasp

              Doesn’t make Cloughie’s views any less relevant when commenting on that Leeds team though.

              They must have just done “intimidation” off their own backs if it wasn’t instilled in them by Mr Revie. The only thing whiter than white about Leeds then was their strip. Some absolutely wonderful players but a snide and vindictive element to a number of them which certainly wouldn’t help make them popular….but then again winners are generally not popular with other team’s supporters.

            • Marching on Together

              Leeds were no worse than any other team at the time. Look for example at the 1970 FA Cup final where Leeds (the so-called dirty team) were kicked off the park by Chelsea (the flamboyant aristocrats from the Fulham Road).

            • Wasp

              Wouldn’t particularly disagree, Marching. Lot of thuggish players then and Chelsea had one or two….. Ron Harris springs to mind. Shouldn’t have been on the pitch half the time given some of his tackles.

              I wasn’t comparing that Leeds team with their contemporaries though but stating that I thought it a bit rich to suggest that the present Man U team was worse than that Leeds side when it came to intimidation etc. In any event, I think any team that is going to be up near the top of the English Premier (or old First) Division will have some element of that in their play to be honest. They all seek to influence referees and officials.

              I am no great fan of Ferguson and think he goes over the top on many occasions; however, in this instance I thought the sending off was a pretty poor decision. The tackling in the 70s had its issues but I think it seems to be swinging too far the other way now……soon you won’t be able to challenge for anything.

            • Marching on Together

              Charlie Cooke was far worse the Harris IMHO.

              What Leeds did not do was (1) dive in a concerted manner and train to dive; (2) surround the ref constantly (if at all) to try to pressurise him.

              Fergiescum gets off with far more form the FA and UEFA than any other manager because of who he is. Whereas Alan Hardaker, the long-reigning Football League Secretary absolutely hated Don Revie, so Leeds never got anything from the football authorities, which is why they ended up playing 21 games in a week once.

              Talking of Don Revie, I was interested to see Celtic play the Revie plan in the first half today, with Hooper playing as the deep-lying centre forward. Lennon clearly knows his football history.

            • Wasp

              Ferguson does get away with a fair amount but I don’t agree with the trained to dive bit. Don’t think that is a trait Man U are particularly guilty of (apart from Ashley Young !!).

              Lennon was at City so he may have got wind of it there as Revie played for City (I think) when they put that method into play – probably in the mid 50s I would imagine. He wasn’t the first to come up with it as I think they purloined it from the great Hungarian team of Puskas who put England to the sword using that approach at Wembley (cannot remember the name of their centre forward).

              Still wouldn’t agree that Leeds were angels though and, whilst you are right that it was a different game then, some of their players (like John Giles for example) although gifted footballers, had a cynical streak which did not endear them to the neutrals.

            • Marching on Together

              Jaap Stam revealed that they were coached in it in his biography. He was transferred within the month for blowing the gaff.

              Young, Rooney, Ronaldo, Giggs, all got huge form as Man U divers.

              Although Revie did start out at Leicester, it was at Manchester’s bigger club that he developed the Revie Plan.

            • Wasp

              Wasn’t aware of that re Stam…not a great one for footballer’s autobiographies as most look like they are ghosted by 8 year olds. If that is correct re Stam, it is not impressive from Man U’s point of view.

              Wouldn’t agree re Rooney or Giggs but would raise you a Nani !

              Revie a Man U player ? ….learn something new every day !!

            • Marching on Together

              At the time Revie played for City, there was no doubt that they were the bigger club in Manchester. And actually in Manchester. Not Manchester wannabes.

            • Wasp

              I think we will have to disagree on matters Man U and Leeds, Marching.

              Didn’t think we would to be honest as I couldn’t imagine you were going to be particularly open minded about a football club when you refer to them regularly in your comments as scum !

            • Marching on Together

              Most Leeds fans know their true nature and refer to them as that. As do many City fans. It is also a refreshing counterpoint to the massively irritating way in which English broadcasters refer to them incessantly as ‘United’. As if the fans of West Ham, Newcastle, Colchester, Leeds, etc etc did not have some claim on that name. Redolent of the arrogance of Victoria Beckscum trying to lay copyright claim to the word ‘Posh’ even though United (Peterborough that is) had used it for decades before she slimed onto the scene.

            • Wasp

              Yip, well aware of that re your first comment as Yorkshire happens to be my favourite part of England.

              No doubt the Man U fans are but with some cause arguably …….don’t answer that as we will redo this thread of emails if we start again !!

            • Marching on Together

              What is your team?

            • Wasp

              For my sins…….., Alloa Athletic

            • Marching on Together

              Hence your nom de plume. A ground I have driven past often enough, but have never been to.

            • Marching on Together


              Do you have a diddy club as well?

            • Wasp

              Diddy team would have to be Leeds United……no, only jesting !!

              I keep my eye on various English teams’ results for many obtuse reasons…..Sheffield Wednesday, Barnsley, West Ham, MK Dons, Accrington Stanley, Torquay United (better known as Torquay Late Kick Off !)

              Alloa’s ground is not the best but not the worst either….probably the worst I have been to is Albion Rovers in Coatbridge (sorry Paul) which probably had in those days the most disgusting urinal I had seen (or have ever seen !).

              I don’t get along to games now very often at all as I prefer watching my son play for his team on a Saturday (too old and decrepit to play myself any more). Love the game though and find many of the discussions on here interesting.

          • Wasp

            Not been the biggest Manchester club for more years than I care to think of and unlikely they will be in future. Semantics re where Man U are located. Could call them Salford United and that would still not make any difference to the fact that they are a bigger club than Man City – and indeed than Leeds United.

            I appreciate there is no love lost between Man U and Leeds fans but, whichever way you dress it up, Man U/Surrey Heath/Salford Utd or whatever they are called are the biggest club in England and indeed one of the biggest clubs in the world.

            They have not reached that position by cheating, diving, intimidation etc alone, much as you may find that galling to admit – they have had one or two decent players over the years (Strachan, Ferdinand, Cantona all spring to mind !). I would imagine there is some acknowledgement of that by most football fans.

            • Marching on Together

              “They have not reached that position by cheating, diving, intimidation etc alone ….etc etc” Before making such sweeping statements, you really should do some reading about the financial shenanigans that went on under Martin Edwards in the late 1980s and early 1990s, where there was massive fraud and criminal activity involved at the club, of a scale that make SDM and Craig Whyte look like angelic choirboys. That is what helped build the club into the size it is now. And for once that is not a bitter Leeds fan speaking.

              And as for Munich, the equivalent would be if Rangers had used the Ibrox disaster as a glorious marketing opportunity for the club. At least they had the grace and morals not to do so.

            • Wasp

              I think you will find that Man U were already a bigger club than City or Leeds before the late 80s and early 90s. Happy to read up on Martin Edwards etc if you can point me in the direction of where I will find it. Massive fraud etc sounds like a fairly sweeping statement in itself……….

              I suggest you read up about the Ibrox Disaster. Sheriff Irvine Smith’s autobiography would be a good start. The only way in which Man U “contributed” to the Munich air crash was by going abroad to play football. Unfortunately the circumstances which led to the tragedy at Ibrox can be laid at the feet of the club itself. Some morals from the club before the tragedy would have actually prevented it happening; in no way can that be regarded as something Rangers should be proud of !

            • Marching on Together

              “I think you will find that Man U were already a bigger club than City or Leeds” Barely, if at all.

              As regards, Ibrox disaster and Munich, I was not talking about what caused it – no doubt that Rangers were to blame – but how the clubs sought to capitalise on the tragedy afterwards. For the Mancscum it was a marketing opportunity to build their brand world-wide. At least for Rangers, it was determination to improve the stadium so it never happened again.

  13. Robert Smith

    Paul,you are very quiet just now,is your obsession with Scotland’s premier club Rangers on the wane or are you preparing for an interview to try to be the next wearer of that big pointy hat that’s redundant at present.

  14. not nearly dead but really dead

    please dunfermiline athletic fc fans ,now is not the time to panic. when the holding company goes bust, an equiry will be held into goings on, leaving time for the club able to fulfill fixtures and emerge next season with membership intact, no accounts and history, all this talk of going bust is pure nonsense. i mean LNS/MSM/SPL/SFA/ etc have said so……………

    sorry , dunfermiline are not ‘rangers fc’……. so im afraid what happened over this past year does not apply!

    Ps: you are free to edit this post and exchange dunferminline athletic fc for any other ‘club’. ‘rangers fc’ must be left in original peice

    thank you

  15. Independence, intelligence, football and law, and a sprinkling of popular music stardust.


  16. Leave Every Hope, Ye That Enter.
    Since the last few days, I have found myself in Limbo.
    I know there has been an SPLIC decision, but its not a just one. Its accepted by my club, but should I accept it? I am in the Limbo of indecision. Where next?
    One of the most disappointing things about the last few weeks has been that the guys on here who I had categorised as spouting conspiracy theory have been proved right. I had refused to believe that the game in Scotland was so skewed and basically uneven. I could not accept that, prior to the SPLIC decision, the governing bodies of the game in Scotland were happy to assist one particular team or at the least content to see it happen.
    And the blogosphere, the so-called Keyboard Warriors or Internet Bampots, are not the only source of such opinion – numerous Celtic fans, and a few other fans, I know have claimed bias of the authorities in favour of Rangers. I had previously been completely sound in the belief that these guys were, at least to some extent … paranoid.
    They had predicted that something new and hitherto unknown factor would be produced in Rangers favour to get them off with it – a rabbit would be produced from the SPL/SFA’s hat – there would be no change to the record books on titles ‘won’, and Rangers would ‘get away with it’.
    I, on the other hand, had predicted that justice would be done, as far as could reasonably be expected.
    Who ended up hitting the nail on the head?
    For ‘Paranoid’, read ‘Realistic’, since it turns out the ‘Paranoid’ are demonstrably right.
    (NB. Inform Douglas Adams that one of his characters should have been named, ‘Marvin the Realistic Android’.)
    = = = =
    The decision of the Commission, once wheels are set in motion, is binding on the SPL. This follows the age old principle that it is crazy to set up a Commission to look into and decide something, and then ignore, contest or continue to argue that subsequent decision. It is clear that the decision of the Commission is now to be the agreed outcome of the affair – agreed by the SPL clubs. So, its difficult to see what the point is in continuing with the message that the SPLIC was inadequate in a number of ways.
    The message this whole process sends to any who argue that there has not been a fair outcome, is precisely that from my previous sentence – that there is no point in arguing for fairness. The message is:
    ‘Dear Internet Bampots,
    It doesn’t matter how right you might be, there is no point in seeking or arguing for fairness, adequate justice or integrity because you’re not going to get it.
    The SPL/SFA ’.

    The SPL accept and endorse the SPLIC decision. I would venture that this is because they are primarily driven by the need to make money from the game. Each club is a company, with a requirement upon it to make money – to profit from the game. This may be a requirement due to the obligations to shareholders, or to Chairmen, or some combination of both. As they see it, they will all be better placed to make money from the game with Rangers back at the top. This is not just the view of the governors or administrators of the game, but also of the moneymen in each and every one of the SPL clubs. They will strive to make money from the game even if it means an end to a level playing field – even if it means compromising fairness, justice and the integrity of the sport. Behaviour that causes such a compromise of the sport, is a big two-fingered salute to the game.
    For each instance of ‘game’ in the preceding paragraph, read ‘fans’.
    Maybe this means there is no hope for the game – maybe, just maybe, this means there should be a sign above the gates of the Game in Scotland that reads, ‘Leave Every Hope, Ye That Enter’ a la Dante’s Inferno from the Divine Comedy. Any form of participation or support – financially or otherwise – of Association Football in Scotland is for the hopeless. Maybe, there is no hope of anything better than this.
    So, what next?
    I am in Limbo.

  17. Breaking news ! Juventus have requested the use of the mighty Rangers 5 star training complex for the rest of the season , a source has said ” we cannot thank the mighty Rangers enough for helping us prepare to put inferior outfits to the sword , it really was so good and toooooooooo easy , so thanks for letting us use your 5 star facility now we know how you felt when putting the rotten mob in their place ” a spokesman for this mighty Rangers said ” it was a pleasure “

  18. Breaking news , juventus have thanked The mighty Rangers for use of their 5 star training facility a juve spokesman said ” it was a pleasure to use such first class and completed facilities to help us put inferior teams to the sword , now we know how you felt when humiliating the rotten mob ” a spokesman for the mighty Rangers said ” it was a pleasure “

    • not nearly dead but really dead

      cheats one and all.
      sorry,……..no competitive ädvantage one and all.

      i will offer my heartfelt congratulations early to ‘rangers fc’ on soon to become champions of the 4 tier, especially as this was done on a level playing field with all other teams in the lèague, you know,them pesky accounts and all that. erm.. just what is the average wage in the 4th tiër for a pro ,outwith ‘rañgers fc’. oh yeah, thats right there are no pro’s outwith ‘rangers fc’. no competitive advantage there either? not if you follow LNS’s logic anyway.

      what a couple of likely bedfellows those two ‘clubs’ are.

      ps. remind me again ,who played brechin in july 2012, bearing in mind ‘rangers fc’ were still in the SPL until august 3rd 2012,
      and charles green has said ‘HIS CLUB’ have never been ïn the SPL.

  19. Marching on Together

    Hope the Celtic klanh were paying attention to the “No to Racism” advertising hoardings at the Juventus game, or do you think they will be out in force racially abusing innocent Italians again?

  20. Please see previous posts ! But Kris ” fat ” commons has asked the mighty Rangers for use of their training facilities a Rangers spokesman has said ” anything we can do to help the diddy teams “

  21. Treacle teeth is to compile a DVD and send it to UEFA in protests at juve scoring against them allegedly Lemmon has said ” it’s no fair , we wurrny ready , their two goals were offside ! The linesmans a mason , the ref is a mason , it was the wrong kind of ball , it was the wrong kind of grass , it was raining , we were cold , the ref didnae give us a penalty , juve wouldn’t give us a touch , we ate a dodgy kfc and I’ve got piles ! It’s not fair ! We just want level playing field.

    • not nearly dead but really dead

      No need for ‘rangers fc’ to send video anywhere, lunny never looks at them anyway,

  22. Budweiser

    I can now say that I did not expect celtic to reach the group stages. When I saw the group celtic were in, I did not expect them to even qualify for the europa league. Just consider the money that Man c have spent and they came fourth in their group. Chelsea in europa league. Man u who spent £ 26m on one player – out at the same stage as are Arsenal. No shame, and a credit to Scottish football.
    If I were you I would ignore the baiters as you know they are only jealous.
    I mean they can boast about their run in the ramsden’s cup until Queen of the South gubbed them!

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