The Sevco saga continues ...

[AllyjamboDerbyshire]

1 hour ago, Footballfirst said:

Copied from another forum.

 

If TRFC is required to play their last group game behind closed doors, the majority of the gate money has already been paid via their £111/£123 three-game ticket package. Apparently, according to the MSM, their packages were providing £5.5m income over the three matches or £1.83m per match. There will still be many fixed costs associated with putting on the match, even in an empty stadium.

 

Would they simply refund or ask the fans to 'contribute' the price of the last match? Perhaps one for their Level Sinko spinner to consider.

I don't know the answer to that one, but for punishments to be consistent and fair, surely it would be unacceptable for a club to still profit from a game where they've pre-sold tickets, while a club, or clubs, who don't have the level of support to sell these packages would suffer the full loss of income. 

[busby1985]

Can’t see them getting banned, they didn’t do anything that offensive........ 

 

 

 

yes that is a nazi skull. 

[Ex member of the SaS]

Totencopf 1934-45    The death head badge is the insignia of the Waffen SS ( small history lesson for those who don't know.) 

 

 

 

[Boris]

The flag is also in the same style as the German war flag used during ww2.

 

 

[pablo]

Those flags are minging. I can't believe that there isn't any Rangers fans out there who see such things and cringe. Mind you, I'm personally yet to meet one. 

[Stephen_East]

All over social media that Sevco have been pulling some kind of scam re. coefficients (10 year coeffs?) to claim extra UEFA prize money from the Scottish pot - depriving likes of Celtic/Kilmarnock and Aberdeen of moneys due.

 

Group of Celtic shareholders going legal through their PLC being denied income due to potential fraud etc. Anything to this one? @FootballFirst?

 

Coincidence i presume this emerges around the time the Glib and Shameless One scuttles away... 🤨

[Footballfirst]

Disciplinary proceedings have been opened following the UEFA European League group stage match between Feyenoord and Rangers FC (2-2), played on 28 November in the Netherlands.

Charges against Feyenoord:
- Setting off of fireworks - Art. 16 (2) of the UEFA Disciplinary Regulations (DR)
- Stairways blocked - Art. 38 of the UEFA Safety and Security Regulations

Against Rangers FC:
- Setting off of fireworks - Art. 16 (2) DR

The UEFA Control, Ethics and Disciplinary Body will deal with this case at its meeting on 27 February.

 

I was half expecting another charge about sectarian and racist conduct, but it looks like they've got off lightly.

[Footballfirst]

35 minutes ago, Stephen_East said:

All over social media that Sevco have been pulling some kind of scam re. coefficients (10 year coeffs?) to claim extra UEFA prize money from the Scottish pot - depriving likes of Celtic/Kilmarnock and Aberdeen of moneys due.

 

Group of Celtic shareholders going legal through their PLC being denied income due to potential fraud etc. Anything to this one? @FootballFirst?

 

Coincidence i presume this emerges around the time the Glib and Shameless One scuttles away... 🤨

I haven't seen anything about the first part of your post.

 

The second part about going legal follows on from Celtic's AGM last week when the Board voted down the Resolution 12 motion about the 2011/12 UEFA Licence award as not being in the company's best interests.  Reporting the "fraud" to the police was always an option of last resort, although I suspect that there won't be much mileage in it if the police say that they aren't going to put much into any investigation.

Edited December 2, 2019 by Footballfirst

[Portable Badger]

''Rangers charged over flares'' - headline BBC online

 

That could have racked up quite some total for them since the late 70s!!  Still spot a few wearing them even now

[berrasbraw]

Craig whyte bringing out a book on Valentine’s Day. You couldn’t make it up. The day they went into administration. 🙈

[brunoatemyhamster]

2 hours ago, berrasbraw said:

Craig whyte bringing out a book on Valentine’s Day. You couldn’t make it up. The day they went into administration. 🙈

Pre order now and you get £2 off. 

Top trolling from Billionaire boy. 

[jambovambo]

 

[1971fozzy]

On 02/12/2019 at 21:28, berrasbraw said:

Craig whyte bringing out a book on Valentine’s Day. You couldn’t make it up. The day they went into administration. 🙈

think it’ll be a cracking read . Popcorn ready

 

Into the Bear Pit: The Explosive Autobiography 

Edited December 6, 2019 by 1971fozzy

[Footballfirst]

More book promotion going on in today's currant bun.

https://www.thescottishsun.co.uk/news/5038249/rangers-craig-whyte-secret-recording/

 

Quote

A WHYTE KICKING 

Craig Whyte and Rangers administrators blasted ‘head case’ Kyle Lafferty and a Gers star with STD in secret recording

CRAIG Whyte and a Rangers administrator blasted "head case" Kyle Lafferty and a Gers star with an STD, a secret recording has revealed.

David Whitehouse, of Duff & Phelps, sat down with Mr Whyte, 48, to take digs at the high earners as the Gers were on the verge of being liquidated in 2012.

Finance chief Mr Whitehouse let rip at striker Steven Naismith, 33, who later cut ties with the Bears, after he held one-on-one chats about leaving or taking a pay cut.

He also made disparaging remarks about then-skipper Steven Davis, 34, who came back to Ibrox this year. Mr Whitehouse told the summit: “Naismith, I couldn’t stand. I would let him go tomorrow.

“Davis is the captain. Davis should be behind all the players.”

Mr Whyte replied: “You don’t get any loyalty in football players at all.”

During the taped chat, Mr Whyte also had a pop at former forward Kyle Lafferty, 32, who later admitted he’s a gambling addict.

He said: “Oh he’s a head case. He’s on 12-grand-a-week or something. He’s got all these gambling debts. Yeah yeah. Nutter, nutter.”

Mr Whyte also claimed a player’s form dipped after contracting a sexually transmitted infection.

He revealed: “He had all sorts of personal issues. He caught herpes from a girl in Glasgow. His performance declined after that.” And he also branded Spanish flop Juan Ortiz, 37, “f****** useless”.

He blasted: “He’s useless. Absolutely useless. Ally McCoist signed him. He should be terminated instantly.”

But Mr Whitehouse shelled out praise for then-manager McCoist, 57, for doing everything he could to help the club financially.

He said: “From day one he said I’m not taking any more money. We’ve not paid him anything.”

Mr Whyte added: “Well fair play to him for that, not many people would do that.”

He then asked: “Do you think many players are going to leave with these deals? Mr Whitehouse replied: “I don’t know to be honest.

“It’s difficult to tell. I didn’t think there’s any loyalty there personally from any of the players.

“There was the odd one like Lee McCulloch. He was good. He was sort of like, I’ll play for nothing.” The finance chief revealed Allan McGregor, 37, who re-signed for Gers last year, was “difficult” at first but he later earned his respect.

He said: “Actually I really liked him. I thought he was dead straight.

“He’s hard as nails but actually once you got into his ribs, he was quite easy to deal with. The captain of the team is McGregor. McGregor’s the one with authority.”

But Mr Whyte hit out: “He’s difficult to sell. He’s on too much money.”

The revelations emerged after it was revealed Mr Whyte will release an explosive book Into the Bear Pit about his doomed time at the club.

He bought Rangers for £1 in 2011 from Sir David Murray but a year later financial woes forced the club into administration then liquidation.

Mr Whyte declined to comment.

 

Edited December 7, 2019 by Footballfirst

[Footballfirst]

The latest BDO report to creditors for the Oldco can be found here https://www.bdo.co.uk/en-gb/rfc-2012-plc

 

The two main points in the report are a reduction in the size of the HMRC claim and a settlement with Wavetower.

 

HMRC's claim, currently stands at £67.6m, with scope for further reduction if BDO can successfully argue against HMRC's "grossing-up" methodology.

 

The settlement with Wavetower, which was suspected from other Companies House documents, is confirmed. The settlement figure is reported as £1.880m, but with separate references to two equal payments of £962,500 having been made.  The sums don't add up, but are close enough.

 

Wavetower was Craig Whyte's purchase vehicle for the club when he took over from Murray. I don't know if Whyte stands to benefit in any way from this settlement. There was a point when he was going to receive a third of any litigation proceeds, but I don't know if that agreement is still in force. Any settlement figure will be significantly reduced in any event as Henderson & Jones, the solicitors pursuing the claim, would no doubt take a hefty slice of a "no win no fee" arrangement

[Clerry Jambo]

[JamboAl]

26 minutes ago, Footballfirst said:

The latest BDO report to creditors for the Oldco can be found here https://www.bdo.co.uk/en-gb/rfc-2012-plc

 

The two main points in the report are a reduction in the size of the HMRC claim and a settlement with Wavetower.

 

HMRC's claim, currently stands at £67.6m, with scope for further reduction if BDO can successfully argue against HMRC's "grossing-up" methodology.

 

The settlement with Wavetower, which was suspected from other Companies House documents, is confirmed. The settlement figure is reported as £1.880m, but with separate references to two equal payments of £962,500 having been made.  The sums don't add up, but are close enough.

 

Wavetower was Craig Whyte's purchase vehicle for the club when he took over from Murray. I don't know if Whyte stands to benefit in any way from this settlement. There was a point when he was going to receive a third of any litigation proceeds, but I don't know if that agreement is still in force. Any settlement figure will be significantly reduced in any event as Henderson & Jones, the solicitors pursuing the claim, would no doubt take a hefty slice of a "no win no fee" arrangement

HMRC are unlikely to get any benefit, grossed up or not, unless there is scope to carry back (increased) losses to previous years' profits.  That being so, it would save a lot of time and trouble, not to mention money, if HMRC simply accepted Ramgers' contentions on a without prejudice basis to bring matters to a conclusion.  That way they will have conceded nothing either financially or in principle, although I understand (I'm sure I read somewhere) the Chancellor is intending bringing in retrospective legislation to aid companies in this situation. 

It is still right however that if the liability passes to the beneficiary, as it should, grossing up should still apply.

[Footballfirst]

1 minute ago, JamboAl said:

HMRC are unlikely to get any benefit, grossed up or not, unless there is scope to carry back (increased) losses to previous years' profits.  That being so, it would save a lot of time and trouble, not to mention money, if HMRC simply accepted Ramgers' contentions on a without prejudice basis to bring matters to a conclusion.  That way they will have conceded nothing either financially or in principle, although I understand (I'm sure I read somewhere) the Chancellor is intending bringing in retrospective legislation to aid companies in this situation. 

It is still right however that if the liability passes to the beneficiary, as it should, grossing up should still apply.

Grossing up was always a contentious approach that wasn't resolved by the tribunals or the courts.

 

HMRC's dividend from the Oldco's estate will only provide marginal benefits to them, even if grossing up was confirmed as OK. As you say, I expect that they won't fight too hard over the point.

 

HMRC got what they wanted from the legal action from the Supreme Court and they will benefit by increased tax receipts from a multitude of disguised remuneration schemes.

 

My understanding of the "loan charge" that was applied to the individual beneficiaries was that the sums due would not be grossed up, nor subject to penalties, if a voluntary settlement agreement with HMRC was forthcoming by the due dates.  Payment of the "loan charge" is due by the end of next month (the self assessment deadline for 2018/19). 

[Japan Jambo]

On 02/12/2019 at 21:28, berrasbraw said:

Craig whyte bringing out a book on Valentine’s Day. You couldn’t make it up. The day they went into administration. 🙈

 

Should sell it through Sports Direct for the bants....

[JamboAl]

21 minutes ago, Footballfirst said:

Grossing up was always a contentious approach that wasn't resolved by the tribunals or the courts.

 

HMRC's dividend from the Oldco's estate will only provide marginal benefits to them, even if grossing up was confirmed as OK. As you say, I expect that they won't fight too hard over the point.

 

HMRC got what they wanted from the legal action from the Supreme Court and they will benefit by increased tax receipts from a multitude of disguised remuneration schemes.

 

My understanding of the "loan charge" that was applied to the individual beneficiaries was that the sums due would not be grossed up, nor subject to penalties, if a voluntary settlement agreement with HMRC was forthcoming by the due dates.  Payment of the "loan charge" is due by the end of next month (the self assessment deadline for 2018/19). 

I think that was the aim right from the off.  Rangers was a "test case" that HMRC simply had to win and the reverberations will be felt right throughout the UK, especially in the EPL.

It will also serve as a future warning re other "inventive" practices.

The answer is simple.  Play fair and play by the rules.

[Pistol1874]

On 02/12/2019 at 23:55, brunoatemyhamster said:

Pre order now and you get £2 off. 

Top trolling from Billionaire boy. 

Even the discount is twice what he paid for club. 

[Ex member of the SaS]

Phil three names claiming Steve G got told to make Morelos the penalty taker as they wanted a win with him scoring ( note they "knew" they would get one! ) to increase his transfer worth. Three names making the instruction the main point whilst I would suggest the fact they knew they would get a penalty is more worrying.

TBF Morelos diving seems to get them one, most times at any rate.

[kirkierobroy]

Sheer invention from Phake Phil.

[busby1985]

Morelos was the penalty taker, everyone knew this pre match. Tav took the ball to give to Morelos as a way of showing him acting as a captain and to keep the Celtic players trying to get in Morelos ear. That’s straight from the after match meal at Ibrox.  Arfield is now on pens going forward. 

[berrasbraw]

9 hours ago, Jap Jambo said:

 

Should sell it through Sports Direct for the bants....

Haha good thinking.

[jaywalker]

Apparently Stevie G has signed a contract till 2024, quite sure that won't be cheap.

where are they getting all this cash from?

[1971fozzy]

4 minutes ago, jaywalker said:

Apparently Stevie G has signed a contract till 2024, quite sure that won't be cheap.

where are they getting all this cash from?

their europa campaigns I’d imagine 

[Jim Panzee]

1 minute ago, 1971fozzy said:

their europa campaigns I’d imagine 

And benefactors? Always tons of people willing to lose money into The rangers

[Riccarton3]

6 minutes ago, jaywalker said:

Apparently Stevie G has signed a contract till 2024, quite sure that won't be cheap.

where are they getting all this cash from?

You shoulda won the Cup, mate. Just unreal.

[Seymour M Hersh]

1 minute ago, 1971fozzy said:

their europa campaign I’d imagine 

 

Ftfy but they must be getting massive amounts of money for this campaign if it is to pay him until 2024.

[kila]

5 minutes ago, 1971fozzy said:

their europa campaigns I’d imagine 

 

Thought that was already spent and they are relying on next year's already?

[buzzbomb1958]

46 minutes ago, kila said:

 

Thought that was already spent and they are relying on next year's already?

He will end up being a creditor along with other mugs

[Tommy Brown]

11 hours ago, jaywalker said:

Apparently Stevie G has signed a contract till 2024, quite sure that won't be cheap.

where are they getting all this cash from?

The same time as Klopp signs for Liverpool until 2024.

Suspicious...

[part_time_jambo]

4 hours ago, Tommy Brown said:

The same time as Klopp signs for Liverpool until 2024.

Suspicious...

That's quite a conspiracy theory - clubs planning their next manager 4 years ahead.

Edited December 14, 2019 by part_time_jambo
because I wanted to

[Deevers]

36 minutes ago, part_time_jambo said:

That's quite a conspiracy theory - clubs planning their next manager 4 years ahead.

It wouldn't surprise me if Liverpool were I some way paying part of his contract on the proviso that they get first dibs on him if Klopp leaves them. 

[Tommy Brown]

59 minutes ago, part_time_jambo said:

That's quite a conspiracy theory - clubs planning their next manager 4 years ahead.

I am quite sure, if he proves himself capable at Rangers, he will  get a shot at Liverpool.

 

He will be aware, sit tight at Rangers and do a good job, no need to take on another EPL first.

 

[SUTOL]

17 hours ago, Seymour M Hersh said:

 

Ftfy but they must be getting massive amounts of money for this campaign if it is to pay him until 2024.

 

I heard that they 'lost' near on £1 million due to losing a late goal and only drawing on Thursday night.

[Footballfirst]

It seems that TRFC's finances have had a boost from their latest Europa League success.

You may recall Dave King's statement in the RIFC accounts dated 31 October.

At the time of preparation, the forecast identified that the group would require £10.0m by way of debt or equity funding by the end of season 2019/2020 in order to meet its liabilities as they fall due. The first tranche of funding is required from investors in November 2019.  However, the final amount required is dependent on future football performance, European football participation and player trading amongst other factors.

TRFC's accounts have just been published on the Companies House website

https://beta.companieshouse.gov.uk/company/SC425159/filing-history

The accounts include a statement by Andrew Dickson dated 4 December indicating that the funding requirement has dropped to £6m.  I can only assume that the change is down to the additional income from the group stage results and progress to the knock out stages of the EL.

At the time of preparation, the forecast identified that the company would require a further £6.0m by way of debt or equity funding during season 2019/2020 in order to meet its liabilities as they fall due. The first tranche of funding is required from investors in December 2019. However, the final amount required is dependent on future football performance, European football participation and player trading amongst other factors. 

There are also comments about funding in TRFC's "Post Balance Sheet Events"

Capital Contributions

Subsequent to the year end the company received additional capital contributions of £7.0m from its parent company.

Loans

Subsequent to the year end the company received additional loans of £5.0m from Laird Investments (pty) limited.

The £7m was the debt for equity exchange in September.  The £5m loan facility was also mentioned in the RIFC accounts.  What is missing is last month's share issue, which should have raised £2.1m in cash from Borita Investments (£1.5m), Club 1872 (£500k) and Douglas Park (£100k). 

Edited December 18, 2019 by Footballfirst

[JFK-1]

On 14/12/2019 at 05:02, Tommy Brown said:

I am quite sure, if he proves himself capable at Rangers, he will  get a shot at Liverpool.

 

He will be aware, sit tight at Rangers and do a good job, no need to take on another EPL first.

 

 

I don't see him as being keen to go to any EPL club but Liverpool. I remember Alex Ferguson once mentioning that he had been offered the England job. He found the offer tempting but at the end of the day he decided "there is no way I could lead out an England team against Scotland"

I feel Gerrard who is financially secure worth an estimated £60 million and isn't in management for the money may feel the same about Liverpool. Chances are he will sit it out at Rangers till Klopp decides to call it a day and take it from there.

[IveSeenTheLight]

I see SevCo have come up with an ingenious way to increase revenue this christma.

Keep it in the family

 

 

[Mikey1874]

 

[Mikey1874]

 

[tcjambo]

On 13/12/2019 at 18:23, Jim Panzee said:

And benefactors? Always tons of people willing to lose money into The rangers

I like the Liverpool theory

[Footballfirst]

The reason that the SDI case hasn't progressed to a conclusion as yet is down to TRFC putting in a counter claim against SDI, and Elite being brought into the case.  I can't see a resolution before the summer. 

[Jim Panzee]

23 hours ago, tcjambo said:

I like the Liverpool theory

Which I get to some degree. But the endless millions sunk into The Rangers surely points to certain people / groups happy to sink money into not just a club but a way of life. 

[jambovambo]

ROLLS BUILDING
COURT 27
Before LIONEL PERSEY QC sitting as a Judge of the High Court
Wednesday 29 January 2020
At 10:30 AM
Judgment
CL-2018-000631 SDI Retail Services Limited v. The Rangers Football Club Limited

johnjamessite.com

[Jambo 4 Ever]

12 minutes ago, jambovambo said:

ROLLS BUILDING
COURT 27
Before LIONEL PERSEY QC sitting as a Judge of the High Court
Wednesday 29 January 2020
At 10:30 AM
Judgment
CL-2018-000631 SDI Retail Services Limited v. The Rangers Football Club Limited

johnjamessite.com

what is likely to come from this?  any consequence for Rangers?

[annushorribilis III]

25 minutes ago, jambovambo said:

ROLLS BUILDING
COURT 27
Before LIONEL PERSEY QC sitting as a Judge of the High Court
Wednesday 29 January 2020
At 10:30 AM
Judgment
CL-2018-000631 SDI Retail Services Limited v. The Rangers Football Club Limited

johnjamessite.com

Is this where the judge decides how much Sevco have to pay in damages for breach of contract ? 

[DETTY29]

1 minute ago, annushorribilis III said:

Is this where the judge decides how much Sevco have to pay in damages for breach of contract ? 

It'll be when a sickness bug mysteriously takes out the whole TRFC legal teamand it's kicked down the road again.

[jambovambo]

Where's FootballFirst when you need him ?