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Frank de bear

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Posts posted by Frank de bear

  1. ERM...if it was just 3 years accounts from the holding company that was required, why didn't the new club get a holding company that had 3 years of accounts instead of forming 2 new ones?

    Yawn....

    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.

    The story of Derry City FC’s financial meltdown bears an extremely close resemblance to that of Rangers. The legal entity behind Derry City FC – Wellvan Enterprises Ltd – was liquidated in November 2010, with a new company picking up the pieces, the business and assets, attempting to continue Derry City FC – albeit having to start again at the second tier of the FAI league system – again echoing Rangers situation closely.

    New club? Evidently not…

    The most interesting aspect of this return from the wider context is that the “new Derry” club is being treated by UEFA as a continuation of the pre-liquidation “old Derry” club ie. as the same football club, despite being entirely separate legal entities. Evidence of continuity of Derry City FC from oldco to newco is clear from a glance at the club’s UEFA team page, results from 2013 sitting alongside results from 1965! However, one could plausibly side-step that by putting it down to a slack web-page editor who has, inadvertently, incorrectly represented UEFA’s official position.

    The really convincing evidence lies in the calculation of co-efficient points that determines a club’s ranking and thereby its seeding for the competition draw. It’s a key factor in determining the stage at which a club enters a competition and the pedigree of potential opponents. As such, it impacts upon a club’s chances of success and – crucially for clubs at this level – prize money, so is certainly no candidate for casual, throwaway errors.

    “Old Derry” enjoyed a relatively successful Europa League campaign in 2009-10, earning themselves a (relatively) healthy haul of 1.275 co-efficient points. These points from 2009-10, won by “old Derry” pre-liquidation, are being included in – and to the benefit of – the ranking of “new Derry”. (Derry City can be found at number 347 on this list of club rankings: http://www.uefa.com/memberassociations/uefarankings/club/index.html

    There can be doubt, UEFA are demonstrably not treating “new Derry” as a new/different/separate club at all, otherwise there’s no way this would have happened. A default, baseline co-efficient value is standardly used to plug the gaps in the 5-season record where a club (a “new” club for instance) has not previously competed in Europe, but this option has been rejected in favour or recognition of points accrued in the 09-10 campaign.

  2. :lol:

    Keep 'em coming, Frank's one of my favourites.

    Champions in 5 years. :lol:

    We'll be spl champs in 3 years never mind 5.

    Who do we have to beat a bunch of debt ridden pishy wee clubs who can't even get 4,000 fans at a game like St Mirren? or some pishy Aberdeen side that's not won a trophy in something like 18 years.

    WOW Rangers have a hard task ahead beating that load of dross.

    Next you'll be tell us about the BOOMING spl.

  3. So who are The Rangers International football club that people are buying shares in then? And why did they change to this name last year if it's the same club?

    The name of the football club has always been The Rangers football club, RIFC are the parent company who bought the club after the CVA was turned down.

    Don't take my word for it this is what HMRC said on the matter....

    http://news.stv.tv/west-central/105871-in-full-hmrc-statement-on-rangers-cva-rejection/

    This sale can take place either through a CVA or a liquidation.

    So the sale is not being undermined, it simply takes a different route.

    "Liquidation will enable a sale of the football assets to be made to a new company, thereby ensuring that football will continue at Ibrox.

    "

    It also means that the new company will be free from claims or litigation in a way which would not be achievable with a CVA.

    "Rangers can make a fresh start."

  4. Sure Frank - but what about all the diddies that wet themselves laughing at what youz have become?

    The diddies can laugh all they want cause it's only a matter of time before Rangers get back to the top and reclaim what is rightfully ours. 5 years from now Aberdeen, St Mirren and killie etc will still be mid-table pish. Rangers on the other hand will be champions and playing in the Champions league.

  5. So if you win the Scottish cup you'll be playing in Europe next year then Benny uk.gif , or not :) .

    Quote above Benny !, do you see the fudge ?. It is only according to the SFA's interpretation of what could constitute as a club and not what lawfully defines a club because we all know the law sees clubs as footballing companies.

    A small victory in the battle but the war is not won, because we all know it's a new club no matter how the SFA try in vain to dress it up as the same member club :P .

    Ha ha i love the TIMplosion and jealously from hooligan fc fans, not once but TWICE now the asa has kicked out a compliant on Rangers most successful club ad. It's been proved beyond all doubt now that Rangers are and always have been the most successful club in Scotland.

    At least the last 18 months have proved something and it's that you are your kind are utterly jealous of Rangers more successful history, why else would you spend so much time ranting about it.

    You lot should just move on now and enjoy a few more taited titles while you have the chance to, enjoy Europe as well while it lasts cause the hooligan scum that follow your club will get you banned sooner or later.

  6. But fans of other clubs in places like this have been spouting 'inane drivel' about the spending, cash flowing out the club, losses, wage bills and so forth for well over a year now - perhaps if 'Gers' fans had placed value on it they would have done something about it before now !?

    Here is a thought would it not be better for fans of these other clubs to look at their own finances first???

    The irony of Hearts fans coming on here and laughing about a club having £11m in the bank when they are in admin owing £30,000,000 seems to be lost on a lot of them. Months after going into admin BDO still don't have the shares as they are frozen and money is starting to run out for them.

    Killie are on the verge of Admin and some of their muppet fans don't seem to grasp this.

    Aberdeen are heavily in debt and have been rumoured to be going into admin soon.

    Dundee utd survive cause one man is pumping money into them.

    Celtic owe a £16,000,000 mortgage on Porkhead

    Motherwell have to borrow from the fans trust this season cause they have zero credit.

    Etc etc

  7. What is particularly interesting about all of this, surely, is that (it seems?) lots and lots of Rangers fans are not subscribing to any concern to do with their spending, casg flowing out of the club, losses, wagebills, and so forth. Others seem no more than mildly intrigued...

    Given the collapse and liquidation was only last year, it surprises me they're not a lot more sceptical and suspicious of financial matters... not a lot more wary. They've been succesively "duped" by David Murray, Craig Whyte, then Charles Green, and during it all gone under - in humiliating circumstances.

    You'd have thought this would give rise to caution.

    Rangers fans are cautious but most of the crackpot bigots on here who all seem to have an accountancy degree from Harvard university have no idea what they are ranting about most of the time.

    Been a number of lies posted from the usual suspects. Rangers accounts were not great by any means but they are far from disastrous.

    Lets put things in context here Rangers posted a bank balance of £11m from June 2013 at the same time Celtic plc posted a bank balance of only £3m!!!! And that's with them playing last 16 CL football and selling 2 sets of Season tickets at Spl prices.

    Rangers loss was around £600,000 per month at the time of the accounts, hardly a shock considering Rangers recieved zero money from retail becuase JJB went under and a 33% cut in income from ST ticket sales from 11/12.

    Rangers also had massive one off costs which made the accounts look a lot worse than normal.

    600k to investigate Green

    £1m on new jumbo screens

    400k New L.E.D advertising borads

    £2.4m Buying back club assets

    £6.7m in IPO start up costs

    Running the club for 2 months with zero income in summer 2012

    £6.7m loan used to buy the club.

    £1m on Wifi at Ibrox

    Legal costs

    Signing almost an entrie team of players

    Rangers may need extra money from season 2014/15 but about 90% of the clubs in Scotland are in the same boat right now.

  8. Nice museum, It's good to remember the old times.

    Thing is we'll always wonder how many of those old trophies were won by cheating.

    Big words from a Killie fan right now....

    Their leaders advocate withholding revenue from the club, forcing an insolvency event to try and achieve their objective Michael Johnston Kilmarnock chairman

    £13,000,000 in debt and a boycott by fans.

    Pure booming 8)

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