Big Rangers Administration/Liquidation Thread - All chat here!

[CityDave]

Probably up already but this is the STV article which came out over an hour ago

In full: Rangers statement on SPL investigation into use of EBTs

STV 10 September 2012 17:26 BST

Charles Green: Rangers chief executive released statement on Monday.SNS Group

Rangers stated that they are refusing to take part in the Scottish Premier League's investigation into the club's use of offshore employee benefit trusts (EBTs) to pay players.

Here is the statement from Rangers chief executive Charles Green in full:

"The Rangers Football Club Limited will not attend tomorrow's hearing (Tuesday, September 11) of the SPL-appointed commission investigating the circumstances surrounding the use of employee benefit trusts by previous owners of the club. The club cannot continue to participate in an SPL process that we believe is fundamentally misconceived.

"Neither the SPL, nor its commission, has any legal power or authority over the club because it is not in the SPL. For that reason it has no legal basis on which to appoint its commission. The club ceased to be subject to the SPL's rules when it was ejected from its league. Our lawyers have made that point repeatedly to the SPL in correspondence and yet our requests for an explanation from the SPL have been completely ignored. The SPL's silence on these issues is deafening. The outcome of the SPL's process will have no legal effect.

"First and foremost, I would like to explain this decision to our supporters across the world whose loyalty and commitment to the club in very difficult times has been unwavering and heart-warming for all those involved at the club. Our decision regarding this commission is approved unanimously by the board and the manager Ally McCoist.

"Since the decision was taken by HMRC on June 14 to reject administrators' proposals for a company voluntary arrangement, the fate of Rangers FC lay firmly and clearly in the ability of the consortium I led to form a new company and corporate entity that would ensure that Rangers had a future as a football club.

"At all times we were fully transparent in our dealings with the football authorities, be they the SFA, SPL or the SFL. There was no ambiguity whatsoever regarding the status of the company when it made an application to join the SPL. As we all know, 10 SPL clubs decided against the admission of the new company to the league and The Rangers Football Club Limited subsequently applied to the SFL for membership and we are grateful for their acceptance.

"In short, what was decided by the SPL membership is that Rangers was finished as a member of the SPL. Despite this, the SPL now see the new owners of the company, and the new company itself, which owns all the assets of Rangers FC - including SPL championship titles – as fair game for punishment for matters that have nothing to do with us at all. And let's be very clear about what this commission is. Although the SPL goes to great lengths to emphasise the independence of its commission, the commission is not independent of the SPL. It has been appointed by the SPL. It follows SPL rules and its process is managed by SPL staff. I don't question the impartiality of the individual panel members but whatever decision they reach is a decision of the SPL.

Title stripping

"To make it crystal clear, the new owners purchased all the business and assets of Rangers, including titles and trophies. Any attempt to undermine or diminish the value of those assets will be met with the stiffest resistance, including legal recourse.

"Furthermore, we ask the question genuinely. Why did the football authorities do nothing to address an issue that was public knowledge for at least two years, and was reported in the club's accounts for several years, before the club went into administration and was subsequently taken over by new owners? HMRC contacted the SPL regarding EBT matters in October 2010, they met to discuss what documentation the Club had lodged with the SPL. Did the SPL launch an investigation? Did they appoint a commission? Did they ask to see EBT correspondence? Did they ask any questions at all? No. They did absolutely nothing.

"What compounds the breathtaking hypocrisy of the SPL in this whole saga, is that the SFA, the SPL and us - as the new owners - took part in numerous discussions regarding the new company's league status during which it was made clear that a deal was there to be done where 'the EBT issue' would be dealt with as part of a package of sanctions which would be implemented in return for membership of the SFA and a place in either the SPL or Division One. We do not accept that people who are willing to come to an agreement on such matters then have a right to instigate a full blown inquisition when matters do not unfold as they thought they would.

"In our view, it beggars belief that an authority which can be heavily involved in these discussions to the point that the Chief Executive Neil Doncaster repeatedly stated he was not interested in stripping titles from Rangers can lurch from that position to setting up its own commission under the chairmanship of Lord Nimmo Smith. I must make it clear that we are not questioning for a moment the integrity of Lord Nimmo Smith and his colleagues but we believe the SPL have been hypocritical in their approach to this matter. Quite apart from their negotiations with our consortium, I know the SPL were well advanced in their discussions with another bidder and his representatives where EBT issues were raised and there was again an understanding that the EBT issue could be dealt with by agreement if new owners were to take over at Ibrox.

"Why is the SPL rushing to judgement now when it has been sitting on the matter for two years? Their haste is particularly difficult to understand when the tax tribunal judgement is imminent. The factual issues in both cases are identical. We have to ask why is the SPL so anxious to issue a judgement in this matter before the tax tribunal's findings are made public. The position is even harder to understand when one of the reasons the SFA did not pursue any form of disciplinary charge on EBT matters following Lord Nimmo Smith's April report was because it was felt unwise for the SFA to pursue the matter when the tax tribunal judgement had not been made public. Nothing has changed as the judgement still has not been made public. Why is the SPL rushing ahead when in April the SFA felt it unwise to do so?

"Rangers was not the only club in Scotland to use EBTs yet nothing was done and little has been heard about it. Also, Rangers stands accused of achieving sporting advantage unfairly – yet there is little debate over the fact in all the years EBTs were in existence at Ibrox, the club often failed to win either the league title, or the main cup competitions. Furthermore, the period concerned saw a significant downsizing of the playing squad both in money spent on transfers and players wages.

"The decision we have taken has not been taken lightly. There are powerful representatives from clubs within the SPL – not all of them by any means – who appear hell bent on inflicting as much damage on Rangers as possible. It is lamentable that the Board and executive of the organisation have not been able to deal with this appropriately. We do not hold every SPL club in the same regard. Several clubs were placed in an invidious position and we believe their interests were not best served by those in more powerful positions. Furthermore, as a club we are not satisfied that the issue of conflict of interest relating to advisers to the SPL has been satisfactorily dealt with.

"Once again I would thank our supporters for their patience and tolerance. They have been asked to take it on the chin time and again and we stand united in saying: no more. As far as I am concerned, Rangers Football Club has won a world record 54 league titles, and, whatever the decision of the SPL commission, these titles cannot and will not be taken away from us and our manager Ally McCoist is in total agreement."

Edited September 10, 2012 by CityDave

[youngsy]

Scottish cup 2009 is ours.

Take that Sevco!

Falkirk has more history than sevco, FACT!

That's because Sevco isn't a football club. Rangers are though and the winning of 225 trophies will attest to that indisputable fact.

[Bendarroch]

"There are powerful representatives from clubs within the SPL – not all of them by any means – who appear hell bent on inflicting as much damage on Rangers as possible."

There's the SPL split - those with Liewell and those not.

I wonder who...

[Fife Saint]

This has the potential to be even funnier than the frothy death of Rangers.

[Milo]

Probably up already but this is the STV article which came out over an hour ago

In full: Rangers statement on SPL investigation into use of EBTs

STV 10 September 2012 17:26 BST

Charles Green: Rangers chief executive released statement on Monday.SNS Group

Rangers stated that they are refusing to take part in the Scottish Premier League's investigation into the club's use of offshore employee benefit trusts (EBTs) to pay players.

Here is the statement from Rangers chief executive Charles Green in full:

"The Rangers Football Club Limited will not attend tomorrow's hearing (Tuesday, September 11) of the SPL-appointed commission investigating the circumstances surrounding the use of employee benefit trusts by previous owners of the club. The club cannot continue to participate in an SPL process that we believe is fundamentally misconceived……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

"Once again I would thank our supporters for their patience and tolerance. They have been asked to take it on the chin time and again and we stand united in saying: no more. As far as I am concerned, Rangers Football Club has won a world record 54 league titles, and, whatever the decision of the SPL commission, these titles cannot and will not be taken away from us and our manager Ally McCoist is in total agreement."

Is it just me?

When I read the statement (in full) it was almost as if I could hear Craig Whyte's voice speaking the words.

Has he been secretly in charge at Ibrox all the time? Hidden away in a secret high-tech command room, manipulating everyone while laughing quietly to himself as he strokes the unfeasibly large, white, shaggy cat on his lap? Oh, where is James Bond when you need him?

"Yesh, Mish Moneypenny - if it'sh a big shaggy pussy I'm shertainly the man for the job!"

[Owsley]

That's because Sevco isn't a football club. Rangers are though and the winning of 225 trophies will attest to that indisputable fact.

Confirmed by Charlie that they were won by a dead club and purchased by the new one.

[CityDave]

Rangers were in the SPL when the EBTs were used.

Whether they are or are not still in the SPL is irrelevant.

[Itwiznaeme]

Well I am not.

I can see how a title can be stripped from a person in a race/sprint.

How you you strip a title from a team in a league? How do you apportion the points to other teams?

How do you revise the results of the Scottish Cup?

What about the league cup?

How do you revise Rangers' European results?

How do you deal with Scotland games where Rangers played?

It is so easy for someone to say, "Strip them of their titles" and it's a cheap soundbite. But not one fucker will actually propose how this is done in any way that is logically consistent.

Olympics Seoul 1988, Ben Johnson ran in the heats and semi finals of the 100 metre sprint, during these races runners were eliminated as he qualified in their place,

he ran in the final and won the event taking all the accolades of an Olympic champion.

Later he was found to have cheated, his title was stripped and handed to the silver medallist

Did the runners who were eliminated during the heats lodge any kind of objection as they were denied their chance of Olympic glory?

No they did not, Carl Lewis is now listed in the record books as Gold medallist Seoul Olympics 1988

As you can see from the above it looks like I am that "one fucker"

Have another green yin aussiedee.

[Owsley]

2002/03 No Award

2004/05 No Award

2008/09 No Award

..and so on and so forth. Where's that meerkat when you need him?

[bennett]

CG correctly showing the respect this Kangaroo court deserves

Pretty much ignoring the findings and preparing for the appeal, this also looks like Rangers will go completely outside the SFA and SPL, perhaps court of session again?

Taking this to court is a certainty now, their kangaro..... impartial procedures have left us with no other option.

[youngsy]

Confirmed by Charlie that they were won by a dead club and purchased by the new one.

You'll have to point out in Greens' statement where he mentions the words"old club" and "new club". Because all i''ve read as regards assets and history is "SPL now see the new owners,and the new company itself,which owns all the assets of Rangers F.C- including SPL Championship titles". So please show where Green mentions the words"old club and new club" and don't twist words just show where in his statement he says those words.

[bennett]

I have this weird feeling, like deja vu.

Somehow, I think we'll be back here in six months with a few* fans of New, New Rangers blaming the SFA for their club's woes, because they didn't investigate Charles Green and prevent him from taking over then disappearing with all their money.

*Not lots, of course.

The SFA did investigate him and his backers and gave them a full bill of health, it was part and parcel of getting membership.

Clown.

[CityDave]

This is not going to end well.

Mr Green your taxi awaits..........

[WhiteRoseKillie]

Why? Are the current Rangers players not correctly registered?(1) What grounds would the SFA have to stop us playing football this season(2)? What rules are we currently breaking(3)?

1. We have no idea, and neither do you. Charlie Boy made no secret that the players would be "owned" by his "consortium", not the club, so god knows what paperwork, if any, he has submitted.

2. There were perfectly valid reasons for not allowing a brand new club entry to the league. This has been done to death, so let's move on to....

3. I guess we won't know until they get caught - like last time

[HibeeJibee]

This bit is also interesting/funny:

Also, Rangers stands accused of achieving sporting advantage unfairly – yet there is little debate over the fact in all the years EBTs were in existence at Ibrox, the Club often failed to win either the league title, or the main cup competitions. Furthermore, the period concerned saw a significant downsizing of the playing squad both in money spent on transfers and players wages

So the obvious questions are now...

- why should Rangers not currently being in SPL prevent SPL reclassifying historical honours lists?

- how are honours assets, and to what degree can they be bought-n-sold between peoples/companies?

- why would the fact that cheating (if proven) wasn't 100% successful, and latterly propped-up spending instead of further increasing, be a defence?

[GreenockRover]

WHIT !!!!!?????

Chuck: "Ave t'commission found owt yet Alister"?

Sally; "Fuckin Hell ! Who said that"?????

[Itwiznaeme]

Probably up already but this is the STV article which came out over an hour ago

STV 10 September 2012 17:26 BST

Charles Green: Rangers chief executive released statement on Monday.SNS Group

Rangers stated that they are refusing to take part in the Scottish Premier League's investigation into the club's use of offshore employee benefit trusts (EBTs) to pay players.

I'm not surprised at that at all.

If any members of the Green Consortium, including McCoist if he really does have a 4.5% stake in the club, involve themselves in 'any' of the ongoing investigations that apply to the financial affairs of the 'old' club - the 'new' club will then rightfully be held accountable for 'all' of the 'old' club's debts. The Green Consortium (all stake-holders) will be in serious trouble if any of them "take part" in 'any' of the numerous investigations that are ongoing into the financial affairs of the 'old' club.

[WhiteRoseKillie]

I can't believe i've just read through 3 pages of Dhensebhoy, Sucker, Bairnforever etc still recycling the same old tired propaganda that the majority of their ilk have long since abandoned as a bad joke.

..and yet they still can't figure out why we're getting more press and TV time than their own "more deserving" teams

Lots of news coverage on the latest Cabinet re-shuffle - should Cameron and Osbourne be seen as a good thing?

John Terry's trial even chucked your mob's live SKY news conference off air - he must be a hero!

Back in Summer 2003, you couldn't turn on a telly or open a paper without reading about Ian Huntley. Doesn't really make him popular, or a particularly admirable human being.

Like spoiled children, if you can't earn good attention, you'll act up so you get SOME form of attention.

WAAAAAHH! Same club! No Debt! Keep history! No Fair! Durty Feeenyuns!

[Owsley]

You'll have to point out in Greens' statement where he mentions the words"old club" and "new club". Because all i''ve read as regards assets and history is "SPL now see the new owners,and the new company itself,which owns all the assets of Rangers F.C- including SPL Championship titles". So please show where Green mentions the words"old club and new club" and don't twist words just show where in his statement he says those words.

It's the word "company" isn't it, that's the one that has the fans of oldco clinging on and refusing to accept the blindingly obvious. I don't blame them.

Charles Green: "the fate of Rangers FC lay firmly and clearly in the ability of the consortium I led to form a new company and corporate entity that would ensure that Rangers had a future as a football club"..."despite this, the SPL now see the new owners of the company, and the new company itself, which owns all the assets of Rangers FC – including SPL championship titles".

Duff and Phelps' Paul Clark today: "I can confirm that the business and certain assets of RFC 2012 PLC – including the honours won by the Club – were acquired by Mr Charles Green’s consortium as part of the sale and purchase agreement".

All adds up to the same thing - old club gone, honours sold to new club.

[WhiteRoseKillie]

Whether a smaller club with less turnover than Rangers would have been investigated to the same level is not the point of club continuation being recognised or not by the football authorities. The fact is that clubs throughout Europe that have went through the same procedure as Rangers have had the club continuity recognised by the relevant football authorities,in whatever country the club concerned is domiciled in and by UEFA,an organisation that Rangers are a member club of and as a member club are entitled to the same recognition as any other club in this position.

The same outcome would have applied to any club if the transference of the relevant FA Membership had taken place before the old company was formally liquidated,if the new company had applied for transference of membership from the old company that is. Also i don't fail to admit to any scenario as regards income from our fanbase to other SFL clubs or indeed to the three ruling bodies,i'm well aware of the income the travelling support can bring to the game,something which has been demonstrated this season.

And have you a list of such clubs, perchance? Just that I can't remember any other clubs cheating in quite so many ways simultaneously, then being allowed to carry on as if nothing had happened.

Seriously, I'd like to know.