MarreZ
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Posts posted by MarreZ
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No 8 hears the news that the CVA has been rejected.
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I love this, its the most apt gif on this thread, i dont care how many other times its been posted, its always worth a greenie.
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To the proclaimers tune
Gattuso no more, McGregor no more,
Sally no more, Davis no more
Black no more, Big house no more
When you go, will you send back bocanegra to America
take a look up the leagues and see Morton, Stenny and Annan
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The guy obviously just looked at D&P statement and said that, no mention of liquidator going in and taking more out of it than the paltry 5.5m.
I honestly cant see a CVA getting accepted, why would HMRC appoint BDO as liquidator if they were going to accept a CVA?
They must know they alone pretty much decide whether its accepted or not, so this is the clear indication that it wont be accepted.
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The forbes list a good indication of tiering.
Go back 3-4 years and the old firm would sneak into the bottom of the top 25.
Celtic are always bigger than Rangers, the gap has now widened but both have fallen off the top tier of clubs.
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I was at Disneyland in America last year, saw a few Celtic tops but no Rangers, bloody tarriers everywhere.
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This has sprung up on Rangers Media, claiming that Green's loan as laid out in the CVA is not a loan after all.
What puzzles me is he says that one tabloid went as far as saying it to be repaid in full by 2020, which is actually the wording in the CVA.
So - bullshit or truth?
There has been a lot of mostly negative talk, with regards to how Charles Green has funded his offer for the club and his offer to creditors. The common notion is that Charles Green is loaning his investment, a loan which is repayable through certain criteria, and with interest.
Many in the mainstream media have jumped on it and incorrectly tried to declare that Green isn't really making an investment at all, just lending us money until we can pay it back some way down the line - one tabloid even went as far to say that the loan had to repaid in full by 2020.
Let me clear this up right now.
In order to achieve a CVA, Green has had to pump the cash in to fund the club from June 1st - when the club's money essentially ran out - as well as fund his offer to creditors. Although it is not certain yet if the CVA will be achieved, it is looking good, although we have nothing concrete that can be relied upon at this stage.
What funding options were available to Charles Green?
1. A loan is made from Green to the club - which is what he has done. If the CVA is achieved, then that loan turns into capital, via shares, and the club exits administration. This loan will not be repaid if the creditors accept their offer. I can absolutely say that for certain. If the creditors do not accept their offer, the loan then becomes repayable to Green.
This is the quickest and best way of getting the money in and getting the deal done. He is not allowed to officially say that this will happen, as that would constitute an offer and would be the same as option 2, which you can see below.
2. Money is invested as capital. Under the rules as they have been explained to me, an offer would then have to be made for all remaining shares, such as those owned by Dave King. This is very time consuming and costly.
Obviously, all the ins and outs of this process are very complicated and well over the heads of most of us. What is also not helping, is that some people who actually know the ins and outs, are deliberately stoking up the fire to create mischief, and to follow their own petty agendas.
We are having enough trouble with our existing enemies, without some of our own support being obstructive and divisive.
We have already seen a barrage of negative stories trying to derail this process, and some of these stories have come from so-called Rangers fans, who now seem to want us to be liquidated, so that their favoured party can gain control.
Firstly we were told that Green has no money, despite the fact that he has proven that he has.
Then we were told that Green's consortium were deserting him, even though nobody who has been declared as being involved, have done so.
Remember when Brian Kennedy said that if his and The Blue Knight's offer was not accepted by 12pm the next day, a CVA would be impossible? That's funny, because Green came in later than that and still managed to get an offer out to creditors.
We have had accusations of David Low is involved, when he is not.
We heard rumours that Dave King was suing the club a couple of weeks ago, but he has yet to file any papers? He has yet to provide Duff and Phelps with any evidence whatsoever and his statement yesterday was just another attempt to derail this process, to benefit himself, or another.
There is much, much more that I simply cannot tell you that has been done to try to disrupt this process, by so-called Rangers fans. They really should now give it up and let the club get on with it.
I am not saying that we should not keep asking Charles Green the important questions and the RFFF are doing a great job (statements apart!) at pushing Green in every direction, to ensure that this is getting done properly and with the best intentions.
There are still a lot of valid questions that need answered, but the more time we spend trying to get answers to ridiculous accusations, the more valuable time is taken away from the vitally important issues.
The most important thing right now is that the creditors accept their offer, next Thursday at 10am.
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The three years of accounts is actually an SFA requirement as part of the club licensing system, not SFL.
Therefore, if the SFA agree to transfer the membership, but the SPL dont, the newco would be eligible to play in the SFL ... I think!
However, in that scenario, the newco would, I believe, end up in division 1.
Mind boggling, Im sure I read something when the guy from the SFA (or was it SFL) said he would take Rangers on their merits along with other clubs who wanted to apply.
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Thats not good
To be fair, if it is any club that they do it to, Airdrie would be the only palatable one for obvious reasons
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Fair enough. What about the possibility of buying out Airdrie (which has been mentioned) and effectively starting in Div 1.
I would hope that loop hole was closed after Airdrie's buyout of Clydebank. Anyone know?
Thats a possibility, it wasnt closed.
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Why would it take them 3 years to get back into the SFL?
I know they would have to reapply, but Id expect the SFL to vote them straight back in (unfortunately)
I had heard of a 3 years worth of accounts thing, but I thought that was for Europe only.
You need 3 years of accounts before submitting to the league, thats why Gretna couldnt apply to get straight back in (was the reason given anyway)
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Do you mean before getting back into the SFL or the SPL?
SFL.
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It has been my preferred option since day 1
Even if a newco is made to wait 3 years before getting back in the league (at the earliest?)
Potentially Rangers could be out the wilderness for years if no other clubs goto the wall.
Rangers have made a point of doing things by the rule book, well the rulebook says that you need 3 years of accounts to be admitted to the league and Rangers dont have this.
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Anyone know what MBB, referring to Craig Whyte on RTC, means?
Manky ball bag
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I wondered about a suspended sentence, but would it be seen as a cop out? It would, of course, make the task of finishing them off that much easier when the dual contracts come around.
It could be a dangerous game to play though. Say they get a suspended sentence, come back into the SPL but then are guilty of a minor rule break. They could find themselves thrown out for something petty and innocuous - can you imagine the backlash from the Orcs?
If anything is going to happen to them it will happen before the season starts, once it starts the door will be shut behind them, you can bank on that.
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He's a Buddie. Easy part for him in that film. Parts of Paisley make Sparta seem like Kensingston.
Yeah, he's a buddie that supported St Mirren and changed to celtic as he's a dirty glory hunter with a set of stupid teeth.
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The beauty of the internet is that Joe Punters like you and me are now more generally better informed ( as opposed to the few anaoraks a few years ago) and when we get on to a phone-in we give them a reasoned, intelligent argument and what does it do?....... it fickin throws them, witness Wee Chico and Lamb-boy in the past few weeks. Previously all you would get was a guy going and saying " Ah'm a Rangers fan and we're the best" " And what is your point caller?" " Jist sayin', we're the best" "Oh, right, then." Now it's a positive joy just waiting for the wee hand grenades to get thrown in.
Although my favourite was one from years ago when Wee Chico was rabbiting on about respect for refs, and a guy came on, had him spouting and raving about respect, then said "So, where was your respect when you were rantin' at the ref in your son's
under-12s match as the Racecourse in Paisley last Saturday?" His answer? "You must be mistaken, it wisnae me" then cut the guy off.
Chick never really bothered me before this affair, I gave him the benefit of the doubt, Id never read or listen to a word he said again though, he's been an embarrassment.
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Lets be honest, Chic and Jim Traynor are both .... NAZI TURKEYS.
They have forever followed orders to report on Rangers, suck up to Rangers managers, directors and players, printed media has been on the wane for years because of the internet and now when there is the chance to get one up on their overlords that have kept and fed them well, they wont do it, it would be like a turkey voting for xmas, but these are no ordinary turkeys, they have dined with Hitler and Himmler for too long, they are now NAZI TURKEYS.
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Tax is paid quarterly, i would assume that march 31st was end of a quarter, then june 30th. Im also certain they will be paying tax or at least due to pay tax.
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You obviously have never watched Baseball in the USA. Barry Bonds and A Rod being 2 of the star players of recent past and both were known to be dope cheats and on a regular basis. Their punishment was minimal
Yeah, bonds got away with probation instead of prison because he grassed up people, he really got off lightly.
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They would join the queue as a non-football creditor.
Are you sure of this? Im having an argument with a Rangers supporter who says the fees would be stricken. Would like some proof as this is what I think too.
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What would happen if Duff and Phelps were removed and another administrator put in place, would all their fees be stricken also?
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I didnt actually think of this before, but Duff and Phelps have played an absolute blinder for themselves.
We all know the CVA has been doomed to failure from the start, their fees wrack up, but there is not the required money to pay them. They keep hold of the players at the time of administration, but agree a reduction in what they can go for, knowing that they would be knocked down in price in any case, but you trigger a release price that lets them go, which is probably a fair market value for these guys.
Knowing the cva will fail, player transfer fees are excluded from the CVA and the extra 5 or 6 million they will get in from letting these guys go means their fee is well covered, it has never been in doubt how much the CVA would cost, I guess they knew from the outset that it was going to be well in excess of 5 or 6 million, with the money they get from Green for the newco assets, there is now just enough for them to pay their bill.
Administration always ends up in the administrator and no one else getting paid,that is generally how things work, its always an amazing coincidence that administrators fees always end up very similarly to what is available.
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Big Rangers Administration/Liquidation Thread - All chat here!
in Celtic v Rangers, Rangers v Celtic
Posted · Edited by MarreZ
So many posts - cant look away.