May 31, 2013 · 9:13 pm
The discussion surrounding the ‘Rangers FC – new or same club’ question has always included, bubbling below the surface of superficial taunts and assertions, a reasoned debate with arguments presented by both sides. The position – or alleged position – of UEFA is never far from mention, usually as a weapon in the armoury of “new club” advocates. However, evidence relating to a direct precedent of Rangers’ financial meltdown , Derry City FC, calls into question how UEFA officially treat instances of liquidation of football clubs.
Background – UEFA rules and the Derry City precedent
UEFA’s definition of a football club “a legal entity fully responsible for the football team”, contained within their Club Licencing & Financial Fair Play Regulations, is used to argue that – as far as UEFA are concerned – newco Rangers FC (being a new legal entity) are a new/ different/ separate “football club” to now-in-liquidation-oldco Rangers FC. That means founded 2012, no major trophies, old club is ‘dead’ etc. Continue reading →
May 31, 2013 · 8:00 am
One wonders who is responsible for writing the Stock Exchange releases for Rangers. I have mentioned before the fact that, in every LSE statement, there is mention that the “Club” is managed by Ally McCoist “who is still the Club’s all time leading goalscorer”.
One wonders if they will ever mention his managerial skills, which might seem more relevant for investors reading the releases.
One also wonders if the people who write these statements on behalf of Rangers realise that there is such a thing as “over-egging the pudding”.
Yesterday’s statement contained a masterpiece of the art. Did you spot it? Continue reading →
May 30, 2013 · 12:54 pm
At the end of my post this morning about the Pinsent Masons investigation into “the connections between Craig Whyte and former and current personnel of the Company and its subsidiaries” I wondered how the mainstream media might report matters.
The answer has come quickly.
The BBC has a story, which can be found here, headlined “RANGERS CONFIRM NO LINKS BETWEEN CRAIG WHYTE AND CHARLES GREEN.”
The Scotsman’s website has a similar story here. That has the headline – “RANGERS PROBE FINDS NO GREEN-WHYTE LINKS”.
The Daily Record’s headline, on its story here, is – “RANGERS’ INDEPENDENT INVESTIGATION FINDS NO LINKS BETWEEN NEW REGIME AND CRAIG WHYTE”. Continue reading →
May 30, 2013 · 7:50 am
So the verdict has been pronounced…
30 May 2013
Rangers International Football Club plc (the “Company”)
Conclusion of Independent Review
On behalf of Rangers International Football Club plc, the non-executive directors of the Company (the “Investigation Committee”) engaged the law firm Pinsent Masons LLP to investigate the connections between Craig Whyte and former and current personnel of the Company and its subsidiaries (the “Investigation”).
The Investigation was overseen by Roy Martin QC.
The Investigation concluded on 17 May 2013 and Pinsent Masons and Roy Martin QC have reported to the Investigation Committee. The Investigation Committee is satisfied that a thorough investigation was conducted despite the inherent limitations of a private inquiry. Continue reading →
May 28, 2013 · 9:55 am
Your assertion that because a different company now owns “Crystal Palace” means that the club is a different club is not quite correct.
Crystal Palace was incorporated as in 1905 and remained within this legal structure until 1984 when a new company was set up called “Crystal Palace FC (1984) Limited” and set ups as a subsidiary of “The Crystal Palace Football and Athletic Club Limited”.
“Crystal Palace FC (1984) Limited” took over the operation of the business and assets of the football club but remained as part of the group structure of “The Crystal Palace Football and Athletic Club Limited”. It changed its name to “Crystal Palace FC (1984) Limited” in May 1986 before being placed into administration in March 1999. Continue reading →