Big Rangers Administration/Liquidation Thread - All chat here!

[blanco]

regan surely has no influence on the process?

i think they will trade down, it's fairer to hand out a punishment that is too lenient than one too harsh imo.

I think down sizing might not be an option anymore considering the fact that FIFA are monitoring the situation.

Maybe looking too much into it, but it looks like rangers have backed the SFA into a corner here and possibly underestimated the will to punish them severely.

Edited May 31, 2012 by blanco

[No8.]

I'm catching up so maybe this will have been said before by the time this posts but, No8, I hope those understanding gents down the lodge down hear that you've played around with Seamus a few times, who knows what they might label you with..........

It couldn't be any worse than when they found out i was getting engaged to the wife. Believe me Seamus is a moderate compared to her family

[Humf]

http://forum.rangersmedia.co.uk/index.php?showtopic=221680&pid=1060089265&st=0entry1060089265

Bugger. We're still in their good books.

[No8.]

FIFA will go crazy if its just a fine and one season out the cup.

I think FIFA will just be happy when this has all gone away regardless of the outcome.

[Drooper]

So with the players contracts reverting back to full pay tomorrow who's picking up the tab?

According to a Rangers supporter at work today, they've got £3.5M in the bank to cover this. Thank fuck, I thought for a minute that they they might be struggling to do the right thing

[Gaz]

http://forum.rangersmedia.co.uk/index.php?showtopic=221680&pid=1060089265&st=0entry1060089265

Bugger. We're still in their good books.

You guys will get the first invite to the John Knox Proddy League, on account of having one of your stands called The Derry.

[Kyle]

See post above regarding dropping the ball by Daly by dragging-up historic "Operation William". Everyone I know thinks Daly is losing the plot - H&D pumped this historic, out-of-date stuff

I agree - not sure why he even bothered with these tbh. Things have changed so much since even then, there's no way even Whyte could foresee such a shit storm.

I'm by no stretch of the imagination an expert, but nothing in those emails seems too outrageous or out of place. I thought the administration would be quick, I certainly didn't see a close to 4 months story of unparalelled drama/comedy/thriller/action/adventure coming like this has.

I go to see pretty much everything released in the cinema, and this has bettered anything I've seen at the cinema this year, by a long way

[KillieJimbo]

regan surely has no influence on the process?

i think they will trade down, it's fairer to hand out a punishment that is too lenient than one too harsh imo.

You think they'll trade down after Rangers taking them to court - going against the rules again and costing them money - and with FIFA watching it like a hawk? Reading through the note of reasons you can see that the SFA were probably 80-90% of the way towards a suspension first time. Rangers appealed, and lost. They then went to the civil courts.

There is simply no way this is ending up with a backing down by the SFA after all this - and that is exactly what a Scottish Cup ban is.

[Kyle]

Contracts revert to type

So starts the next chapter

[blanco]

According to a Rangers supporter at work today, they've got £3.5M in the bank to cover this. Thank f**k, I thought for a minute that they they might be struggling to do the right thing

Isn't that the £3.5m of paye and n.i. that duff and phelps have supposedly failed to pay thus far?.

Edited May 31, 2012 by blanco

[Claymores]

Could the SFA fudge it and eject them from the Scottish Cup for, say, five seasons? Or does it have to be one season?

If it's the latter then it has to be full suspension. FIFA will go crazy if its just a fine and one season out the cup.

What leads you to believe FIFA could give a toss? Sensalionalist Daily Record pieces? Are they on a flight to Scotland as we speak?

My prediction - Appeals panel ban the scum from Scottish Cup, UEFA say "national Association have taken action and we will not interfere", FIFA say "where is Scotland?, is this a Welsh issue?"

[shull]

OK, so this is my first post, not only on this thread, but on the site as a whole. Great work folks. Keep going because you are making a difference.

Anyway, it looks like the guy with the nails is standing over the coffin with a hammer in his hand. The worrying thing for me is what happens next. If Rangers suffer a suspension or exclusion can you imagine the hell that is going to be unleashed, particularly in and around Glasgow? The riots in England will look like an old folks outing by comparison. If, after the axe falls, you can remember ever having looked at a Rangers fan kinda funny then get the hell outta Dodge.

Seriously though, this decision may have serious public order implications and I just wonder if any pressure is being applied to the SFA to ensure that they don't light the blue touchpaper.

When the Blue Vermin are deid, your shower of Green Vermin cnuts will hopefully be next.

We are the diddies, now f*ck off !!

[Humf]

Contracts revert to type

So starts the next chapter

These cut price deals still seem a bit over inflated

[tux78]

Just read the bbc website about the players being for sale at set prices and I am really struggling to understand what is going on there. If Rangers sell any players the money goes to green instead of the creditors under the cva? Seriously are Duff and duffer mental how can a sale of assets in a club which is insolvent not be used to pay creditors. It makes sense in a normal sale as the value of the club is decreasing by the amount and turning to cash but in this case the company valuation is so low that the money made may well reach a value near the bid amount - of course running cost will be removed from the funds but personally i dont like the thought of money being available to rangers if it isnt available to the creditors. Hopefully tho rangers will have been kicked out before the cva is even decided upon.

[T_S_A_R]

I think down sizing might not be an option anymore considering the fact that FIFA are monitoring the situation.

Maybe looking too much into it, but it looks like rangers have backed the SFA into a corner here and possibly underestimated the will to punish them severely.

it could also be the only option if rangers have detailed minutes of the original meeting discounting explusion/suspension as punishment. the statement above implies that they were considered which means there is a good chance rangers already hold a document saying expulsion/suspension isn't a viable punishment.

bear in mind that the appeal tribunal is only supposed to consider the offences committed by rangers ruled on by the nimmo panel, if they take the court action or fifa into account then it'll be bounced straight back to them again.

[RotWeissEssen]

What leads you to believe FIFA could give a toss? Sensalionalist Daily Record pieces? Are they on a flight to Scotland as we speak?

My prediction - Appeals panel ban the scum from Scottish Cup, UEFA say "national Association have taken action and we will not interfere", FIFA say "where is Scotland?, is this a Welsh issue?"

Not sure if Fifa give a toss. But I think they know plenty about Scotland

http://en.wikipedia.org/wiki/International_Football_Association_Board

We are on the board that decides the rules of the game worldwide.

They certainly know who we are.

[Claymores]

I think FIFA will just be happy when this has all gone away regardless of the outcome.

I actually agree with you for once No 2.

[thelegendthatis]

Bored with No 8's coat tail dragging, so thought reading an annual report would be more exciting.

From Duff & Phelps http://ir.duffandphe...l-reportsAnnual copy below from 2011 report.

Note 4. Acquisitions

Acquisition of MCR

On October 31, 2011, the Company acquired certain assets of MCR and its subsidiaries, a United Kingdom-based

partnership specializing in insolvency, turnaround and restructuring services ("MCR"). The addition of MCR

enhances the Company's global restructuring advisory capabilities and expands its presence in Europe. The

acquisition included 126 client service professionals, including 19 partners and directors. Its results have been

included in the consolidated financial statements as part of the Investment Banking segment since the date of

acquisition. The Company's Consolidated Statement of Operations includes $4,726 of revenues from MCR and an

operating loss of $246 from the date of acquisition through December 31, 2011, respectively.

Subject to the completion of a working capital settlement, the fair value of the purchase price totaled $41,738 and

The cash paid at closing was funded from existing balances. The fair value of the 714.314 shares of the Company's

Class A common stock was determined based on the closing market price of the Company's Class A common shares

on the date of acquisition. The sellers have the ability to earn up to £4,625 (approximately $7,400) of consideration

DUFF & PHELPS CORPORATION AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(In thousands, except per share amounts)

contingent upon certain revenue and gross margin thresholds to be achieved in equal installments on the first and

second anniversary dates of the closing. The Company estimated the fair value of the contingent consideration using

a probability-weighted discounted cash flow model. The key assumptions used in this model were estimated by

management, not observable in the market and considered Level 3 inputs within the fair value measurement hierarchy

which required significant management judgments. The fair value of the contingent consideration will be

recalculated each reporting period with any resulting gains or losses being recorded in the Consolidated Statement of

Operations. No such gains or losses were recorded during the year ended December 31, 2011, as there were no

significant changes in the range of outcomes for the contingent consideration.

In addition, the sellers and certain employees were also granted certain retention incentives in conjunction with the

closing of the transaction. These amounts total $9,672 and comprise (i) deferred cash payable on the third

anniversary of the closing of the transaction contingent upon certain conditions which include employment, (ii)

restricted stock awards which become non-forfeitable on the third anniversary of the closing of the transaction

contingent upon certain conditions which include employment and (iii) consideration to non-equity partners

contingent upon certain revenue and gross margin thresholds to be achieved in equal installments on the first and

second anniversary dates of the closing. These amounts will be expensed over the requisite service

So when buying MCR the forecasts of business were based on estimates from management!!!! Which are 'not observable in the market'. So ambitious figures provided which were not supported by reality.

Sellers which I assume will include the partners in charge of Rangers will get additional dosh (£5million at stake) if they achieve certain figures on turnover and gross margin. Hitting targets each year over 3 years. First target is October 2012. But they have lost money since October 2011. Which means the pressure is on them to maximize their return from the Rangers administration.They also have to stay with the company for the 3 years to get the money.

Explains why they agree one thing with Whyte (keep it under £500k lads), and then when they get the gig they milk it for all its worth. Currently on £3.5million (or was a week or so ago), so now about 4, probably can hit £6 or 7k by the time they count the votes, have meetings with whoever is available and talking to the press at length.

Maybe someone more skilled than I can read more from the annual report.

But at least we are understanding their drivers to milk it big time.

Everybody is making loads of money out of Rangers, it is just sometimes not clear exactly how, but eventually we find out. In David Murray's case it took 20 years.

Edited May 31, 2012 by thelegendthatis

[Gaz]

Not sure if Fifa give a toss. But I think they know plenty about Scotland

http://en.wikipedia.org/wiki/International_Football_Association_Board

We are on the board that decides the rules of the game worldwide.

They certainly know who we are.

I was just going to post something similar.

Our international team might be a bit pants, but we're far from being some unknown backwater in FIFA terms.

Edited May 31, 2012 by Gaz

[chrismcarab]

Sorry, but I've had to rise to our pet menstruating sow. Obvious but too simplistic is:

It's only since this CoS decision that No. 8's true inner turmoil is laid bare as he appears to truly believes that the second scenario is happening, when the rest of us can see that the first is actually the case. To address a few of his points, it has taken multiple posters to show him pictures of the Pope wearing a big hat or a bear having a crap in a forest before he will stop spouting his pish. Not admitting to being wrong, note. Just moving on to lash out in another direction. A few nuggets for him to pick over....

1. It is extremely rich for anyone following a club with over 100 years of discriminatory employment policy to accuse anyone else of this, especially as in this case no discrimination is evident towards the employees.

2. With every piece of evidence uncovered against rangers, claims are made that it was him, him or them, never rangers. As the SFA tribunal noted, knowledge of malpractice and inaction concerning same damns directors over decades with implicit guilt.

3. Any other club in rangers' situation would be scrabbling like hell to make friends, pull in favours, do anything to SURVIVE, at any level of the game. This mob expect all other clubs to weaken their own position to help them COMPETE FOR THE TITLE. Arrogance is never attractive. In this case it is completely repulsive.

4. Had rangers accepted the - basically irrelevant - registration ban, they would have been able to start rebuilding and look to the future. By refusing to accept the SFA's decision, they brought this affair to the attention of UEFA and FIFA. In so doing, they have put the whole of Scottish football at risk, with the attendant damage to communities and loss of jobs throughout the country. Their attitude is we don't care - we are rangers and we don't need the diddies". So..... who will they be playing against?

5. Perusal of the timeline of this thread will show a gradual deterioration in the sympathy and support rangers are receiving from their peers. The rest of football is losing patience with these arrogant criminals, and SPL chairmen are beginning to speak in terms of doing the right thing. (One glaring omission, BTW, MJ - might be time to jump on the bandwagon and join the new order).

In summary, then, I would suggest to No. 8 that he bugger off to RM or FF, where he would no doubt find greenies (bluies?) for his hatstand statements. As a favour to the rest of us, could I suggest that cammy35, Kincardine, bearwithme, and bennett join him. Five of the rangers posters try their best to be "reasonable", or five examples of how important it is to cleanse Scottish football, and Scottish society, of this vile institution?

No longer are sanctions enough. This cancer in our midst must be cut out and disposed of. Full remission, no newco" zombie club rising like a new tumour for the trogs to rally round. Scotland owes it to itself to take this opportunity and rid itself of these horrible people.

Forever.

cue 'applause' ........... that is all