Jump to content

The Rangers soap opera goes on and on.


Sergio Garcia

Recommended Posts

The Mighty Thor
Phil MacGiollaBhain ?@Pmacgiollabhain 3m

?Rangers are in now Administration in everything but name.? This was said to me by a senior person in a SPFL championship club today.

:arry:

Link to comment
Share on other sites

kingantti1874

The championship will be a lot more fun with either the Rangers not in it or with a significant points deduction

Link to comment
Share on other sites

The championship will be a lot more fun with either the Rangers not in it or with a significant points deduction

in and out admin within weeks

Edited by DETTY29
Link to comment
Share on other sites

Radio Scotland says they are to meet tomorrow, unsure of outcome. There seems to be a belief, it is nonplaying staff/directors costs which could put Rangers back into Administration. Could Rangers be denied promotion--how it would help Hearts next season?

 

Interesting times.

Link to comment
Share on other sites

...a bit disco

They'll be fine.

 

Quick insurance job should suffice.

 

_67238451_67238446.jpg

 

:look:

Link to comment
Share on other sites

Geoff Kilpatrick

the-big-house-must-stay-open.jpg

 

Can we have a caption competition? :rofl:

What dae ye mean 25.point deduction? WE'RE A NEW CLUB N THAT NO!

Link to comment
Share on other sites

The Mighty Thor

What dae ye mean 25.point deduction? WE'RE A NEW CLUB N THAT NO!

I'm eagerly awaiting the return of our pet hun to explain how the third incarnation of Sevco is indeed the one true (the(the(the))) Raingurs.

Link to comment
Share on other sites

Footballfirst

Reality setting in?

 

Follow Follow ?@Follow_Follow_ 9m

Cost-cutting is fine and welcome in many cases but let's not pretend that this will solve the fundamental problem.

 

Investment = something that neither the hedge funds, Easdales or anyone in that group has any intention of providing.

 

The only people who will do so are you and I. The fans. The ST holders. The liners of Ashley's pocket via jersey sales.

 

And can anyone sober of mind and free from mental disease explain how our FD is still in his job?

Link to comment
Share on other sites

so what would admin 2 really mean to the gers if it happens,point deduction and still win promotion?

Link to comment
Share on other sites

so what would admin 2 really mean to the gers if it happens,point deduction and still win promotion?

 

I think a deduction of 3rd of their points from last year? And then a further deduction if they are still in admin by kick off for next season?

Link to comment
Share on other sites

Geoff Kilpatrick

so what would admin 2 really mean to the gers if it happens,point deduction and still win promotion?

Point deduction, probably far enough ahead to survive and win promotion, loss of players and the fixed assets in the full ownership of the spivs (Ibronx etc) with the shell of the club bought by persons unknown. The club will pay rent to the spivs.

 

That is on the assumption that there are no other hidden debts. Wonder if Hector will get shafted this time?

Link to comment
Share on other sites

Geoff Kilpatrick

Who is the biggest creditor this time, do we know?

The subsidiary football club is the loss-making entity here. It owes the money to spivco (RIFC plc).

Link to comment
Share on other sites

 

so what would admin 2 really mean to the gers if it happens,point deduction and still win promotion?

Points deduction, no money and only way of raising money would be from fans donations, most players made redundant, can't sell next season's season tickets,can't issue more shares, I can't see how they could survive another Admin experience because they would be unlikely to be able to fulfil all remaining fixtures.
Link to comment
Share on other sites

Tom English is no doubt is getting dogs abuse but he is spot on re Smith, and this is also where their own fans are as much to blame.

 

Players had to be on big wages for no other reason that Rangers are Rangers and the fans expect nothing less.

.

While Rangers may be in administration in all but name, whether they land there all depends how quickly the austerity measure can be put in place.

Link to comment
Share on other sites

I think a deduction of 3rd of their points from last year? And then a further deduction if they are still in admin by kick off for next season?

cheers,so 3rd points deduction they still will get promoted (most likely) if its a quick admin exit ....jesus

Link to comment
Share on other sites

Footballfirst

I can see one of the hedge funds (Laxley's or Damille) providing some working capital, say ?3M (secured on Ibrox & MP) to see them through to the end of the season, at which point the loan will be paid off from ST income with a healthy interest payment of say ?1M and maybe a few million more shares issued. Then the whole charade will start again.

Link to comment
Share on other sites

This is a salutary to us to keep the heed when we exit admin no daft spending spree, no silly money and only proper people running our club. Spiv free Hearts FC. That's us from now on.

Link to comment
Share on other sites

you just couldn't make this up - the sheer arrogance of the folk running the club is unbelievable.

Link to comment
Share on other sites

Footballfirst

cheers,so 3rd points deduction they still will get promoted (most likely) if its a quick admin exit ....jesus

 

The 1/3 points deduction no longer applies. It will either be 15 points (New club) or 25 points (Same Club). Most likely to be the 25 points based on the SPFL and SFA's desire to see the "club" survive. On current form the 25 points would be manageable, but if an administration event meant that there was a wholesale cull of players then they may not be able to sustain that form through to the end of the season.

 

It would make a mockery of the SFA's and SPL's involvement in the fabled 5-way agreement, and wouldn't say much for Deloitte's sign off of the last set of accounts just 3 or 4 months ago.

Edited by Footballfirst
Link to comment
Share on other sites

so what would admin 2 really mean to the gers if it happens,point deduction and still win promotion?

 

According to SPFL rule book it would be a 25 point penalty - http://spfl.co.uk/docs/067_324__therulesofthespfl_1388495541.pdf

 

E5 Where a Club, whether owned and operated by the same or a different Member,

suffers or is subject to an Insolvency Event which results in a deduction of points in

terms of these Rules and within 5 years of the date of such Insolvency Event suffers

or is subject to a further Insolvency Event which is not part of the same Insolvency

Process as the Insolvency Event then suffered, the points deduction applicable in

terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25

points with the 15 points in Rules E2 and E3 being 25 Points.

Link to comment
Share on other sites

 

The subsidiary football club is the loss-making entity here. It owes the money to spivco (RIFC plc).

 

So probably a blink and you miss it administration, possibly a pre -pack?

 

Promotion secured, even with a points deduction. An opportunity to shed players and staff through redundancy. And all sorted in time for Sally's summer transfer splurge.

Edited by blairdin
Link to comment
Share on other sites

 

The 1/3 points deduction no longer applies. It will either be 15 points (New club) or 25 points (Same Club). Most likely to be the 25 points based on the SPFL and SFA's desire to see the "club" survive. On current form the 25 points would be manageable, but if an administration event meant that there was a wholesale cull of players then they may not be able to sustain that form through to the end of the season.

 

It would make a mockery of the SFA's and SPL's involvement in the fabled 5-way agreement, and wouldn't say much for Deloitte's sign off of the last set of accounts just 3 or 4 months ago.

ok, did rangers pay any of the amount due to the spfl/sfa or what ever they call themselves? was it no just short of ?900,000 and this was part of the 5 way agreement?
Link to comment
Share on other sites

 

 

 

According to SPFL rule book it would be a 25 point penalty - http://spfl.co.uk/docs/067_324__therulesofthespfl_1388495541.pdf

 

E5 Where a Club, whether owned and operated by the same or a different Member,

suffers or is subject to an Insolvency Event which results in a deduction of points in

terms of these Rules and within 5 years of the date of such Insolvency Event suffers

or is subject to a further Insolvency Event which is not part of the same Insolvency

Process as the Insolvency Event then suffered, the points deduction applicable in

terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25

points with the 15 points in Rules E2 and E3 being 25 Points.

 

When have they ever stuck to the rules, new rules by 5pm tomorrow with the usual at our discretion caveat.

Link to comment
Share on other sites

I can see one of the hedge funds (Laxley's or Damille) providing some working capital, say ?3M (secured on Ibrox & MP) to see them through to the end of the season, at which point the loan will be paid off from ST income with a healthy interest payment of say ?1M and maybe a few million more shares issued. Then the whole charade will start again.

 

The spivs won't dilute their holding in the assets. They'll let the club die again and let the fans start the the raingurs, then rent the assets back to them at a ridiculous price which will keep going up each year. :jjyay:

Link to comment
Share on other sites

 

 

 

When have they ever stuck to the rules, new rules by 5pm tomorrow with the usual at our discretion caveat.

yep and 2 leagues of 21
Link to comment
Share on other sites

Sevco would have to be hammered if they went into admin again surely.

 

The points deduction is just one part of it. The fact they took on the players they did at the wages they did in the leagues they did which has been a direct factor in the finances would surely mean a heavy signing embargo type punishment also....

 

Surely

 

;-)

Edited by Jammy T
Link to comment
Share on other sites

Sevco would have to be hammered if they went into admin again surely.

 

The points deduction is just one part of it. The fact they took on the players they did at the wages they did in the leagues they did which has been a direct factor in the finances would surely mean a heavy signing embargo type punishment also....

 

Surely

 

;-)

well id certainly hope so
Link to comment
Share on other sites

Geoff Kilpatrick

 

 

So probably a blink and you miss it administration, possibly a pre -pack?

 

Promotion secured, even with a points deduction. An opportunity to shed players and staff through redundancy. And all sorted in time for Sally's summer transfer splurge.

Except without a capital injection from new owners, there will be no splurge. They will be paying rent on the assets.

Link to comment
Share on other sites

 

Sevco would have to be hammered if they went into admin again surely.

 

The points deduction is just one part of it. The fact they took on the players they did at the wages they did in the leagues they did which has been a direct factor in the finances would surely mean a heavy signing embargo type punishment also....

 

Surely

 

 

Don't bank on it - the SFA/SPFL will probably blame us and find some other for us.

;-)

Link to comment
Share on other sites

jack D and coke
Sevco would have to be hammered if they went into admin again surely.

 

The points deduction is just one part of it. The fact they took on the players they did at the wages they did in the leagues they did which has been a direct factor in the finances would surely mean a heavy signing embargo type punishment also....

 

Surely

 

;-)

You mean like the last transfer embargo where they managed to sign a total of 22 players? Like that one lol? Sorry mate I'm not having a go at you I just don't think the powers that be will do anything that we would consider punishment. They'll be in and out of admin and in the championship next season with a stronger squad that anything we can put together.

 

I won't be getting too excited myself.

Link to comment
Share on other sites

Remember folks that Administration comes with a transfer ban as part of the sanction. It feasible they will have to make significant cuts to the playing staff but be unable to replace them until January at the earliest.

Link to comment
Share on other sites

Barney Rubble

Well this a pleasing turn of events , who could have foreseen this coming for triggers broom fc :davebp: , where are we at now 3rd brushhead or 2nd broom handle ?

Link to comment
Share on other sites

Remember folks that Administration comes with a transfer ban as part of the sanction. It feasible they will have to make significant cuts to the playing staff but be unable to replace them until January at the earliest.

that's what they want,they want Templeton and c/o redundant .They cant afford to keep paying these kinda guys for doing nowt and cant afford to pay them off either
Link to comment
Share on other sites

jamboinglasgow

Except without a capital injection from new owners, there will be no splurge. They will be paying rent on the assets.

 

So, the spivs can come out of this owning Rangers property as assets and holding Rangers over a barrel to pay what rent they want. The players are offered 15% reduction for a year and half rather then selling some (who would surely go to other clubs on the similar wage.) Sounds like a measure designed to fail. Also with having so many financial men at the club, to then get in another finance consultant, so still throwing money around. I dont think even Rangers fans will try much in a second admin, its just not the club they thought it would be.

 

Also if they are still in admin by the beginning of next season (if they were to go into admin this season) would they get a another points reduction?

Link to comment
Share on other sites

that's what they want,they want Templeton and c/o redundant .They cant afford to keep paying these kinda guys for doing nowt and cant afford to pay them off either

Of course Rangers will get a 1 in 1 out nice and simple.They will get rid of the high end shit that are doing very little and bring in better players for slightly cheaper wages.A carve up as usual to suit the Old Firm.

 

Sent from my Nexus 7 using Tapatalk 2

 

 

Link to comment
Share on other sites

 

Of course Rangers will get a 1 in 1 out nice and simple.They will get rid of the high end shit that are doing very little and bring in better players for slightly cheaper wages.A carve up as usual to suit the Old Firm.

 

Sent from my Nexus 7 using Tapatalk 2

yep 1 in 1 out but not with players that are made redundant(it better not be)
Link to comment
Share on other sites

yep 1 in 1 out but not with players that are made redundant(it better not be)

Case by case basis remember.I have no doubts they will come out of this smelling of roses a nice streamlined squad for next season with a squad of about 30 instead of the 56 they have but with better quality and cheaper wages.You just know it everything in the beaks power will be there to help them.

 

Sent from my Nexus 7 using Tapatalk 2

 

 

Link to comment
Share on other sites

If this is true and they are asking for players to reduce wages because they have serious cashflow issue then you have to ask WTF the SFA / SPFL have been doing since the previous guise of RFC was liquidated?

 

What happened to the 'fit and proper persons' criteria? There has been an endless procession of charlatans / fly-by-nights / spivs in and out of Ibrox since David Murray sold the club. No-one seems to know who owns what, for example Ibrox itself.

 

The fact that a club who had been in administration so recently were all of a sudden able to sign the best players from clubs 3 leagues above them must have had alarm bells ringing somewhere down Hampden way?

Link to comment
Share on other sites

I fear the worst for rangers. Penny shares, ipo already spent, major shareholders hitting the eject button and wage cuts all round required.

 

This is the beginning of a slow and horrible death a la portsmouth. If they go into admin then I think it would be the death of rangers. The best investors know when to cut their losses (or in this case accept the 22p for each 1p share they have bought). These guys have fleeced rangers and it is a lesson to all clubs including ourselves that we have no right to exist.

 

Once we are out of admin let's build a club on youth, let's live within our means and let's build a long term base for the club so that we don't have to flirt with admin again.

Link to comment
Share on other sites

i wish jj was my dad

Of course Rangers will get a 1 in 1 out nice and simple.They will get rid of the high end shit that are doing very little and bring in better players for slightly cheaper wages.A carve up as usual to suit the Old Firm.

 

Sent from my Nexus 7 using Tapatalk 2

 

This.

 

I would not be surprised if the mutant and chums didn't agree automatic promotion the premier league with guarantees in place that they will finish in the top two and any potential challengers will be deducted 20 points at Xmas.

 

Looking the other way while the hooks crooks and comic singers p88ssed away millions doesn't exactly suggest the guardians of our game are serious about tackling corruption

Link to comment
Share on other sites

  • Maple Leaf locked this topic
Guest
This topic is now closed to further replies.
×
×
  • Create New...