It is common for businesses to have subsidiaries nesting inside like Russian dolls. That happens in football as well as in commerce generally. It rarely provokes any interest and even less comment.
However the existential pondering on the nature of Rangers Football Club, and its separate identity from that of the company/companies/people who own it makes this a rather more interesting discussion when it comes to RIFC PLC and The Rangers Football Club Limited.
How companies are structured – a graphic representation
Let’s first of all have a wee look at how quickly times can change.
12th September 2013 – 5pm – extract from announcement to the Stock Exchange:-
Rangers International Football Club plc
(“Rangers”, the “Company” or “Club”)
Withdrawal of requisition for general meeting
…
The Company confirms that all of the current Directors remain in office and that it is not appointing any additional Directors save that as previously announced, the Company confirms that it continues to actively seek to appoint a new Chairman.
Further announcements will be made as appropriate.
14th September 2013 – 2.10pm announcement on official Rangers website:-
SANDY EASDALE, co-owner of McGill’s Buses, has been appointed to the board of The Rangers Football Club Limited.
He joins his brother James, who is also a director of The Rangers International Football Club plc, on the limited company board.
Mr Easdale said, “It’s a pleasure and a privilege to join the board and I am looking forward to doing everything I possibly can to help move the club forward. It’s my intention to help drive Rangers back to the very top of Scottish football.
“That’s an aim that I share with everyone else connected with this club, especially the fans. Together, we can do great things.”
In addition, Chief Executive Craig Mather and Financial Director Brian Stockbridge are members of the football board.
(I am sure that the announcement went onto the official website 40 minutes before a game kicked off so that the fans would be aware of the news by 3pm. Heaven forbid the announcement was made then in the hope that people would not notice it!)
Maybe someone can help me here.
We know, as we are repeatedly told so, including in the heading of the Stock Exchange announcement, that the Company = the Club = Rangers.
As you see from the announcement above, that relates to Rangers Intergalactic International Football Club PLC.
It is therefore not a contradiction of the announcement on 12th September for Mr Easdale to be appointed on 14th to the private limited company. But, if the PLC = the Company = the Club = Rangers, what is the private limited company?
This is of course the entity now known as “The Rangers Football Club Limited” and formerly Sevco Scotland Ltd, as written about recently by ecojon.
Of course, as the PLC did not come into existence until December 2012, then Sevco Scotland Ltd must, of necessity, have been “the Company” and as such = the Club = Rangers.
On incorporation of the PLC and it taking 100% ownership of the former Sevco Scotland, the essence of the football club must too have passed over, unless both companies = Rangers!
And another thing …
James Easdale is now a director of both the PLC and the “Football Board” as the official Rangers website calls it. He is however a non-executive director of the PLC. Non-executive directors have a job description which calls upon them to look at the interests of the company and shareholders and to call the executives to account.
So here we have James Easdale being a director (apparently executive, along with his brother) of the company which owns the assets and business which make up Rangers Football Club, whilst at the same time, being a non-executive director of the company which owns that company (if you see what I mean!)
However I am sure that James will do his very best to hold to account the Directors of the former Sevco Scotland – after all, who better to oversee what Mr Easdale does than Mr Easdale!
Posted by Paul McConville
Random Thoughts Re Scots Law by Paul McConville 
More dosh down the drain, tut tut
Morning Fra! HH!
Evening Monty. Tiocfaidh ar la.
Morning Paul,
I’m thinking back to Fergus McCann’s takeover of Celtic in March 1994 & how it was all done with relative ease,composure & structured organization & direction.
When it comes to the sheer nonsense & comedic value to what is being staged at Ibrox on a seemingly daily basis, one question stands out for me………how difficuilt is it to run a football club, create a board of directors & get on with playing football?
Who else in world football has nonsense like this going on”
Long may it continue………….unbelievable!
Silly bhoy.
Celtic were left alone to do their night of the long knives,as the Gers fans aren’t crazy enough or so full of inadequacies that they would dedicate huge chunks of their life to blogging incessantly.
Paul was just setting up his blog back then, after his team took another sore one off the Gers.
This interet lark is well devo dangerous and allows a maniac like you to spout utter mince.
At least i’m trying to drag you out of the mire with various topics.I should be billing Mr McC.
Here’s Morag talking about getting me my Xmas back in the day.
http://hellogiggles.com/the-internet-in-1994
Good afternoon Cam the Rat
Get a life you piece of vermin.
Celtic’s night of the long knives arrived long before our IPO and Fergus McCann. Our IPO was successful and the money (large chunk) went to financing the club which was run properly … can you say the same?
Good morning chaps
Can all of these directors be voted off at the A/Egm when and if it ever occurs?
Will their financial packages and bonuses be made public?
Who is making these appointments?
Tune in next week for another isode of soap.
Soap?? Who would have thought that one up Monti?
Morning Steven,
Soap is not a word that readily springs to mind while pondering Sevconia 🙂
Personally I think they are creating all this in an effort to confuse people into believing that it was indeed a company and not the club that was liquidated. I am sure there is no one else on here thinks that though!
According to that loonball pzj , the stock exchange fully accept that it is still the same company. The same club argument has been dealt with long ago and it is still the same club. So it would appear that no liquidation of any kind, club or company, ever took place. Very soon, we will all have a “Bobby Ewing” moment and wake up and it will all have been a dream .When we awake we will find a cash rich rangers in the final of the Champions League having already won the domestic treble. All profits made during this season will, like all previous seasons, be donated to charity.
so if there was never a liquidation at all, can all the creditors be paid please?
Strangely enough, creditors never seem to get a mention by this loonball.
FAO CAM
Hi Cam, am in Blackpool for the weekend, met with gypsy Eva Petrulengo, asked her about the future of Rangers, but the crystal ball was blank.
Any ideas?
David, that was fresh air Madam Petrulengo was seeing. Sweet fresh air with no toxic entity. Enjoy your wee hols David and mind and have a dip in the sea. You’ll resemble a ready brek advert with the nuclear waste lighting up the outline of your body. Glow in the dark so to speak
Get a grip Cam – they were only microscopic particles of Caesium 245. Noone has yet proved these particles are dangerous once ingested. In fact, they give you a glowing complexion and glossy hair. Enjoy yourself David boy.
Confused Ted?,i didn’t mention radiation it was Fra.The turds are the biggest bathing risk in those waters,they float all the way from the old country and some folk name them.Some float in here.
How are Creggy and Gort, who changed his name to suit his personality?
No surprise there. Rangers are deid having been put into liquidation. You should have asked about “The Rangers” but that would have only shown her a spiders web or mibbe an octopus and a few swag bags
Blackpools finished mate.
Overrun by benefit tourists.Tony Bliar and his crew destroyed this country and the criminal element is now by passing other countries on their trawl through Europe to reach this nirvana of social welfare hand outs.
Cue the bleedin heart brigade and human rights lawyers.
Drag the auld hag out to the end of Central pier and ask her to have another look.
The futures bright David,the futures Orange.
A full English breakfast and a shot on the Big One.
If your missing the Celtic mhob check out the Blackpool Tower dungeons.
God, you are relentless Cam. You are totally obsessed with benefit culture and immigrants. Put that Daily Mail down and try to relax and feel some fellowship rather than bitterness. You will live longer that way.
Cam the Rat – you really are one fucking hypocrite
You stiff hundreds of people for millions and have the
nerve to criticise a few homeless immigrants.
Pay your taxes you heartless hypocrite before you dare come out with that right-wing garbage.
Your fellow Celtic fan,the not so crazy Gort complained about cyber harassment,police,criminality etc.
Freedom of speech allows me to espouse my political views just like you may feel the need to the actions of the IRA in support of the republicans.
My personal taxes are paid at source and if you or that other angry little man, Creggy, make an allegation of me personally stealing money from charity boxes i shall report you to the police myself.
Never Ted,i like my country to be free from parasites,especially foreign ones who hate my glorious British Empire.
Get back to your own country i say to them and complain about YOUR NHS,roads,infrastructure,democratic system,freedom of speech etc.
If all these folk hate my country so much why come here?
Answer?,,,simple, a big fat giro and a big fat lawyer raking it in from the legal aid system selling the country, along with whatever they call a soul, down the river.
I have longevity in my gentic code Ted and shall live forever.
Camn, the only remnants of the “empire” left, are the biscuits LOL
@Cam
Its certainly run down, on a Saturday night the place is overrun with Hen Parties, most of the women concerned are so rough even Monti would be in with a chance. The tram drivers constantly have to beep drunks walking along the tracks, many of whom cannot remember what £12 dive they are staying in.
However my teenagers like the Big Blue.
I looked for other gypsies for you, but they are all called Petrulengo; like Croy, they must all be cousins.
Spent many a childhood holiday there David,great fun had by all.Simpler times and being dragged along 7 miles of promenade to look, not buy by my canny parents was suitably rewarded with a fish super and a strategically timed ice cream.
Was there a couple of years ago and shocked at the state its in.Our country is ruined,a broken society full of ME,ME, instant gratification seeking trash that wouldn’t know a hard days work if it hit them.
Are you watzing around that lovely Tower ballroom?
You will be a few bob lighter and i’m sure the youngsters had a great time.
@David.
She was looking at the black hole in the accounts.
@monti Morning Monti a quiet night on the croft but with the foul weather may not get the Sunday papers if the ferry cant sail.Living on an island has its drawbacks.Do you think rearpipe may have 2 offspring as clarkeng and the boy david are certainly chips off the old block.Still if no papers more time to rake around on the web and look for more fun to be had at sevcos expense.
Hector, have a shifty at Phils blog. Seems all the palaver abou Celtics debt and free land blah blah blah was just that and the perpetrator was none other than McMurder himself under another alias
@Hector
Morning Hector,
Get shearing one of those sheep on the croft Hector & make a coat m8, summer is over!
Have you conducted a quick foot patrol around the croft this morning?
I hear Shakytor Karagandy are in the area & looking for a bit of erm…’ entertainment’ 🙂
@Hector
Did you read my post above?
Life on St Kilda must be affecting your brain
@ Steve…..next week? Next day more like, Sunday papers full of squwabbling again, the gift that just keeps giving, tick tock tick tock
Thinking ahead to the AGM and the call for the McColl camp for all the shareholders to attend to save Rangers, whichever one they ate trying to save. Surely they will easily be outvoted by the shares once held by Charlie and now with the Easdale’s. the block vote of the few easily trumps the rest, as in the Kelly’s day
Sassenach, but the McColls and the Eastdales are all true ‘the the rangers 2012’ men but basically they’ve been supporters of the same team for as long as anybody else who supports them as they were only born in 2012. God I’m a bad man. guffaw guffaw guffaw
Two famous quotes from another Scot and so very apt for the Sevco lot….
Oh what a tangled web we weave,
when first we practice to deceive!
Followed up with…
And come he slow, or come he fast,
It is but death who comes at last.
@Paul McConville
Top job Paul, top job.
A great diversionary intervention to rescue econob from having to correct his factual errors and hypothesis and having to admit he knows nothing about these things …….and basically talks pish.
In the interests of your own credibility you might have made mention that over at Sellik that the same structure is in existence.
That is of club within Private Limited Company and Private Ltd company within the Public Ltd company.
Might that have been a fair representation?
Or you might have spoken about the financial turmoil at your so beloved Albion Rovers and appealed for the people of Coatbrig to support their local team and economy and stay away from the big money grabbing clubs in Glasgow.
Can I ask why Paul should have pointed out the corporate structure over at celtic for credibility. If we are talking legal matters surely one company with a legal identity stretching over 100 years cannot be compared with a company that is just over 1 year old. No?
Very well spotted sir.
Paul’s writing style although not up to my level,makes for a more entertaining read than Eco’s.This latest foray shall be filed under Company Law.
Paul has asked for help here.
Its a rather bracing day today Paul,i thoroughly recommend a long walk on the Rothesay pier.
Eco is now pacing up and down in front of the mirror practising his new blog.
Cam the Cowardly Sneering Rat
i DON’T THINK ITS MANLY TO TRADE CYBER INSULTS WEE MAN.
MORE OF AN UP CLOSE AND PERSONAL SORT OF A FELLA MYSELF
@Clarkeng.
The structure may be similar,(and I commend Sevco on following the Rangers traditions of being 2nd to Celtic), but the rules are different.
You will be familiar with the game “Ker Plunk? At Celtic, the structure is designed, and the object of the game is to keep all the little marbles(the money) within the containerwhich holds them.
At Sevco, the object of the game is to slide out the little cocktail sticks, and grab as many marbles that fall as possible.
Unfortunately, with nobody topping up the marbles, the game will soon be over.
Now, whose gonna pull the next stick?
Lol @ ker plunk
@barca
Was I not just saying that the other day?
Dont you think real Sellik men would forego the 6% in perpetuity.
And having raised all that money in shares and convertibles ( £61.5m plus £9m ) and with Parkheid and Lennystoon valued at £50m but the net worth only £32m at 30.6.12, do you not think some plunker is pulling someone’s (dip) stick when they talk about “cash rich, sound business model or £10m profit”.
@Clarkeng.
I missed you saying that the other day, but its nice to know we are in agreement.
I don’t see that a comparison with Celtic is relevant. The object of the game at CP is to keep the marbles in perpetual motion, creating a perpetual business. The object of the game at Ibrokes is to grab as many marbles as possible. Many have been lost! Lol. Rolled under the couch never to surface again.
The structure similarities mean nothing. It is the application that matters.
@barca
My very point exactly
Why is a club who has fixed assets of £50m in property, the most successful share capital issue in the history of british football coupled with others up to the value of £61.5m and further cash input in convertibles of £9m ( that is £120.5m in total ) only now worth £32m.
Pot and kettle comes to mind.
Or if not it should.
The situation at Rangers is not good – we all know that.
The situation at Celtic ………is not as good as the fans feel it should or could be.
“Cash rich” ……er naw……there is a rather large overdraft in place.
“Sound business model” ……..well it is for those who are steadily relieving the club of large sums……..if the model was sound surely you would expect the value of the club to be around the value of the original share capital.
And I asked this question the other day as well but so far it remains unanswered “why is Celtic Park and Lennoxtown valued at £50m not being questioned”. I seem to remember at the IPO the outrage that Ibrox and Murray Park could be considered as worth the same.
Maybe you could explain the difference.
@Clarkeng.
As you will be aware, both sets of assets require a teamplaying football to add the “real” value to the assets. There is more to the valuation than bricks and mortar.
I would suggest that CP and Lennoxtown are an invaluable asset to Celtic, when you consider the level of competition, and value of their thorough-breds.
Sevco on the other hand could not add such increased value at the time of IPO.
They made a claim that it would be an asset for the future, but that is largely a dream. Surveyors should not include dreams in their valuations.
Not, when in the words of the great Paul Weller, “The world is your oyster, but your future is a clam.
BDO should really as why the assets were valued at such a low price and seek some redress for the creditors. No additions have been made to either of the entity’s complexes, the market is depressed, how did this magnificent jump in value come to pass, there’s maybe a claim there.
Maybe your correct,perhaps Duff & Duffer should notify their PI providers to the effect a claim may be pursued over their handling of the administration process, I think they may well have felt relief at sliding out of the picture. Surely they must be accountable at some point as to the sudden increase in value of the assets immediately following the transfer to Sevco Scotland (or was it Sevco 5088) as confirmed by the then finance director.
@Barca…
When did CFC last pay corporation tax? Can you tell us at all?
Why do Celtic have so many corporate entities or subsidiaries?
Perhaps you’d like to explain that, just for clarity you understand.
Oh, and if CFC have no debt, how do you explain the loans/mortgages which cost the club £1.5million a year? Seems a strange arrangement and a exceptionally high interest rate for a “cash rich” club, whose debt was revealed as only £2.5 million by mad Phil?
Anybody who looks a pages 57 and 60 of the June 2012 accounts will see Macgibber is talking p*sh…again. The floor is yours.
@DCOTW
If I answered all that for you I would need to charge you for my services. I am sure that Celtic would have paid top dollar for their advice, and steered clear of advisors from the cheaper end of the spectrum.
@Barca…
That’s fine. No more than I was expecting.
You’ll be glad to know you never dissapointed.
It’s all about the Rangers #obsessed.
Show us your books you trumpet
Good morning fair maiden.
I have but one book in my collection.
“How to win friends and influence people”.
From here on I will refer to Clarkeng as “Clarkeng the discredited liar”.
@gottoimprove
It is ceratinly true I have deliberately tried to mislead numerous young and old females that I do indeed have a 12″ penis.
And that they would enjoy playing about with it more than I would.
It is also true that some of these females grew up in the metric aged and asked what 12 inches were.
When I said thats a foot they said I dont do kinky.
What size of shoe are you anyway?
I have never suffered to ignomeny of being discredited.
My bank balance is absolutely healthy without the need for an overdraft which I did not need and therefore was not identified on my credit report as having already been spent.
I have very occasionally dissappointed I am sure but as they were ladies they would not dare to mention this………..as if.
You my young idiot friend need to keep your eyes and your ears open and your mouth shut.
That way you will hopefully stop discrediting yourself.
Oh and if you need a tap let me know.
Show us your books barking
“Econonob” is that some kind of marital aid for the age of austerity! Is it solar powered or summit?
@Ed
I think you have just hit it on the head!!
We could encourage people to read his posts then they would fall asleep and probably never wish to wake up.
That’s it!!
It’s a contraceptive.
Get me the Vatican.
@monti What do you call sevcovian with 3 goats? A pimp
@Hector
🙂
Hector
do you mean a pimp wearing a pinny
SHOULD HAVE SAID APRON
Isn’t it great when the Sevconians are left bewildered. They see comments and blogs referring to TRFC ltd, RIFC, RFC IL etc, and they don’t know whether to be angry or not because they don’t know which one is supposed to be the “Club”. They strangely spend a lot of time defending COMPANIES!
“How dare you question the integrity of one of Charles Greens subsidiary companies ya bassa!”
“Who do you think you are insulting Craig Whytes Wavetower! It’s just pure jealousy”
“You are a hater for trying to damage the reputation of a company currently being liquidated that has nothing to do with our Club”
Off out for a lovely Sunday lunch.
I’ll check to see if any of you dullards can say anything even slightly original or amusing later.
@Paul
this is especially for you and your obsession with a man who you just can’t keep down,,tweet,tweet.
http://www.rangers.co.uk/news/opinion/item/5084-100-not-out-for-ally
must had 3 wash and blow dries today at the fitba, soaking thru, the missus nabbed my coat, anyways like the camster heading out for a bite to eat… Take care girls and bhoys..
JB, I had a spare golf brolly you could have borrowed.. You should have said because where I am, its lovely and sunny and warm and around 90 degrees. Oh life can be a bitch sometimes but on the other hand, you can watch the bhoys whereas I’m restricted to the telly or net. Cest la vie
Jeez I feel for you Jimbhoy.
I am sitting at the edge of the pool in the north of Mallorca at Pollenca. The temp is 28 degrees C, there is a beautiful blue sky with puffy white clouds and I am just about to head for some tapas and a san miguel.
The only blackspot on the horizon is that someone told me Duncan Ferguson lives near here now.
@Ed
Duncan Disorderly? 🙂
Ed P.
Lovely spot. I cycle in from Alcudia and sit for a while on the wall along the beach drinking my lodge coloured liquid and watch the world go by and forget about bankrupt broken down 3rd div knackered ex football clubs. Back in a few weeks.
Don’t get confused and try to walk into big Duncs hoose by mistake now Ted,,,none of that moderate force for the big man wi burglars,walk into his gaff and yer getting leathered,,,what a man.
The owner; Rangers International Football Club Plc is the parent company (holding the assets and the ‘club’) in a business which requires a football team (The Rangers Football Club Limited).
There is little likelihood of the subsidiary company (the ‘club’) being sold off separately from the assets, however, it is not beyond the realms of possibility (or did Green not already by the ‘club’ separately?).
The eventual disclosure of the audited accounts will most likely protect the holding company while leaving the ‘club’ vulnerable to insolvency.
While the assets are seen, by some, as being a license to print money; the business of running a successful football club is not so simple. An absentee landlord would prefer to separate the two.
To enable the above ‘split’; the most simple plan would be a sale and leaseback of the assets. Even with the above leaseback in place; the ‘club’ would remain vulnerable to an insolvency event before reaching the SPFL.
A conflict is about to erupt.
Up the Confederacy!
Rangers are deed making me guilty of an offence under the Deluded(Scotland) Act 2012. I hate rangers, always have. Opps there’s that chap at the door;)
i could’ve written that JP
@JP
Hated m8, hated!
They are in the past, they are dead!
Feels good doesn’t it?
I didn’t hate them, I just disliked them very very much(with a passion).
I notice on the previous blog, people are now taking Paul Murrays word that Sevco’s income was £60m to June 30th 2013.
That being the case and taking out the £22m IPO money and £5m initial investment, would leave Sevco with an annual “other income” of £33m which is just absolute nonsense.
If people believe Mr Murray, and remember this is a guy who was also complicit in everything that went on in Sevco during his tenure over there, then it follows that they should also believe with £2.5m per month expenses, that Sevco can make a £3m profit easy.
Murrays figures were a load of bollocks, but its highly interesting that people use them when it suits them and dont when it doesnt.
@Sevco.
I’m not sure if he is far that far off the mark, if you add in 2 SB to the tally, tv revenue, sponsorship, retail, hospitality, friendlies, etc.
And don’t forget the charities that also “contribute”
So you believe Sevco can operate a £3m per year profit making model then ?
PS – Bare in mind that given the amount of people who pay their SB by instalments in the current climate, the cash generated to 30th June in respect of this years season tickets for Sevco will be a low percentage.
@Sevco.
No, not at all! A portion of the IPO wonga has obviously been used as working capital. In other words it was vital WRT keeping the lights on. Unless you factor in an annual IPO, then how will the shortfall be replaced.
Regardless of the actual figures, if the model was “break-even”, then the IPO wonga would be sitting in a high interest account. It is not! Neither has it been used implementing its original goals, as stipulated in the IPO. i.e. Stad repairs, improvements etc.
I agree they have used the IPO wonga, but if the £60m is to be believed then it puts their annual income(excluding IPO and initial investment) at around the £30m+ mark.
Paul Murray talks nonsense. And not only when it suits peoples agendas.
Fat Sally is still banging on the door for his 10 million!
I love how he goes on about the Sevco supporters taking it up the **m for the last year then without any irony thanks them from all the board and chairmen for the easy money from the floatation of their new club.
@gort from previous blog on the list of things on a government site.
“What the company annual return includes
It must include details of:
the company’s registered office address
what type of business the company runs (eg retail, accountancy, catering)
the address where the company’s list of shareholders is kept
the type of limited company (eg limited by shares, limited by guarantee)
name and address of all company directors (and company secretary if you have one)
the number and value of shares issued by the company and who owns them
where details of ‘debentures’ (a type of loan the company has taken out with a promise to repay at a specific time in the future) are kept”
https://www.gov.uk/running-a-limited-company/company-annual-return
End of story. You are a fake, pity we need to waste our time on you, etc, etc.
—————
Out of curiosity, the online submission form to Companies House is a much shorter version than the paper one. You have listed 7 specific items according to a government website that must be included on the annual return.
Which one of the above are you saying Sevco never disclosed on the online submission ?
@Sevco
Danger danger he will savage you with anti-fraud flatulence completely unconcerned with Co House.
Must have learnt this from his Uncle
To be fair, ive not asked a difficult question. Surely he will be able to point to one of the “must haves” that make it “end of story” especially given that he is quick to ask everyone else to answer questions or provide evidence.
Im just curious to be honest as to which one he believes is not on the AR01(ef) for TRFC Ltd.
@Sevco
His uncle econob couldnt answer so I cannot for the life of me see how he can or even possibly maybe will.
The devil is in the detail.
What I dont understand is why they think people wont question them when they put out this baseless servile hypothesis.
If they were honest and stated they didnt really know but “here is my take on things” I could be a bit more amiable but it is this attitude we are all uneducated idiots and they are in the know.
My arse spouts about the same amount of servile crap over a month as they do in a day.
I cant wait for the Sellik accounts!!
@ clarkeng. They are ALL, every single one of them, experts in company law, criminal law and the financial world. Surely you should know that by now ?
Lol.
@WW
Willy….. I know they think they are but FFS mate you would think they read what they post before the press kerplunk!!
It is the complete lack of reality on here that irritates me.
Never mind a wee shandy tonight and a rumble near the jungle with one of the molls will sort me out.
I used to quite like her to keep her Sellik top on but that has changed.
Do you know where I can buy an Albion Rovers strip?
Show us the books you tramp
Croy Tramps
Heysurs
Tinklers
Jakeys
Croy terminology
I do believtwistingthe lack of the identification of shareholders that is the problem. Not a lack of any paperwork.
From BBC
The document was dated 29 May and contains no details of shareholding during the return period from the company’s date of incorporation.The annual return document normally provides details of the identities of company shareholders, which, in this case, would indicate who owned shares in Sevco Scotland Ltd before its acquisition by RIFC.
http://www.bbc.co.uk/news/uk-scotland-scotland-business-24086184
But go on twisting the story to you’re hearts content.
No it doesnt. For a traded company, since 2011, there has been no need to provide that data. Links provided in next blog.
And as I keep pointing out to very thick sevconians we are not talking about a traded company. IT ISN’T RIFC that has failed to submit a correct return. Actually it probably is but the return isn’t for RIFC
@Gort…”Regardless of what you think of ecojon’s writing etc,you should be glad of guys like that doing the footwork.”
Okay, let’s take that wee fluffy pup of your’s out for a walk and see how it reacts to passing traffic and interaction with other breeds of the canine variety.
Let’s start with the double decker bus that’s been contracted out until 2019 by the owner of the big rotweiller across the street.
You know the one that’s sponsored by the GCC and Clydesdale bank.
The handler purchased a ten year travel pass, which will expire in around five years. Despite a relatively clear road with a few minor potholes, like trying to keep the fare paying passengers onboard, and CL qualification a must, it should arrive safely at the depot. Even a few tyre punctures along the way, like failing to win a treble,dropping into the Europa league, may enable the wheels to trundle on, for a while. Scottish football,despite false proclamations to the contrary,has been in decline for approaching two decade’s.Arguably longer. I remember the Ernie Walker committee, Henry McCleish, and Rinus Michaels reccomendations. None of which were ever incorporated.
Despite everyone and their Labrador agreeing it was the way forward.
Investment at grass roots level, emphasis on technical skills, better coaching and training facilities. Why were they not implemented?
The answer is simple. Finance.
Remember also at the time of these reviews the “old firm” were attracting and contributing 80% of income to our game through their various sponsorship deals,merchandising and TV deals. It was interesting to note that prior to Rangers descent into administration, clubs had agreed on ditching SKY, and setting up their own club TV deals. This was scuppered (effectively)at the last minute when DM and CW shook hands.
I remember PL and ND rushing to London, at a minute to midnight to rescue the SKY deal. As a consequence we ended up with a significantly reduced deal over a longer term(nine years) than the one which had been on th table and subsequently rejected.
Yet there are those who will have us believe that Scottish football does not need Glasgow Rangers, or the old firm. The opposite is true, and had Celtic disappeared in 1994, we would be in much more trouble than we are today. Some people should be careful of what they wish for.
Celtic have their european adventures to keep their fans interested and distracted for a while. For how long, remains to be seen. If they do not invest further in quality players, especially after losing Wanyama and Hooper for example, followed by a few embarrassing reversals in the champions league, they could soon be shoving their granny “aff the bus”
CFC as do most clubs need to scale down their operating costs and corporate structure, they have to do this, while keeping their fans on side.
They have debt, not unmanageable,but debt nonetheless.
” Yet there are those who will have us believe that Scottish football does not need Glasgow Rangers, or the old firm.”
Without Rangers sectarianism in Scottish football would end. Scotland would benefit greatly, whatever the financial cost. I believe everybody knows this, getting people on both sides to accept it may be difficult.
Rangers has always been about sectarian triumphalism and that has got much worse with the civil strife in N. Ireland.
NG, There was only one club in Scotland set up to celebrate sectarianism. Only one club decided to bring religion into the sport of football. It wasn’t Rangers.
That’s the secret madingaling, you have to manage your debt, and rangers didn’t
By the way, I’d hope that all those declaring solidarity with Jim Spence against the organised campaign to limit free speech will now be aligning themselves with Sally Magnussen who is facing the exact same treatment ?
Lol. Thought not.
Ooofft..WW. Do you realise what you’ve done?
Marge will be on the blower to have you disengaged or banned. How dare you divert attention away from Ibrox.
Don’t tell me the loonballs are harassing a wummin for laughing?
Right enough, there are some right brave wee cyber tickets in here.In real life their wee lip would be tr.embling
@cam, ” Published: 15th September 2013
RAGING Celtic fans complained to the BBC after news reader Sally Magnusson LAUGHED at the club’s Champions League draw.
Supporters said the Reporting Scotland host “displayed bias” when she chuckled “ha ha ha”
http://www.thescottishsun.co.uk/scotsol/homepage/news/article5138773.ece
I know that nutter Monti said he did complain but he must have been at the wind up…i mean that’s not normal human behaviour.
If you can’t laugh at Celtic and its fans then what other purpose do they serve?
We are all here to be laughed at ,
Sevco fans wanted to hang a BBC reporter for saying their club was dead. Former BBC sportsman joins Sevco after saying they were dead and once in the door tells Sevconians they are alive.
Good point WW.
They’re total whingers of the highest order mate.
Even the manager and captain had a wee chuckle when Barcelona came out the hat again.
These professional mourners create e-petitions if a dandelion appears in their garden.
Total loonballs!
charles green and ally mc coist I.E. TWA CHEEKS FORM THE SAME ARSE
Lol. Your avatar looks like an arseh*le spewing green bile.
Thatildoo my dingaling,, that’ll doo
As gales continue to lash the pile of rocks I call home making croft work difficult I have just returned from a quick walk on the dark side.David Leggat what a giant of journalism and a very clever wordsmith.The clever play on words referring to Graham Speirs as “odious creep” and his balanced insight into the NUJ is spellbinding.You cant teach that sort of writing on journalism courses this is the raw talent of the man shining through.Bill Mc Murdo another giant of the literary world is busy trashing Paul Murray et al to curry favour with the Dark Lord at Meeja House while on Follow Follow there are a few bears asking pertinent questions of the various boardroom wannabes as well as the usual weeping wailing and gnashing of teeth.At the asbestos dome you can hear the slow cooker bubbling away as the books are cooked to perfection.We live in interesting times.
THIS NUJ ?
Click to access 880-36-03-10-0801.pdf
Lol.
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