AyrshireTon Posted March 27, 2014 Share Posted March 27, 2014 Technically incorrect on 2 counts. If it was straight liquidation then it would be a newco entering at the bottom again. Would it?Last time the SPL rejected them and the SFL stuck two fingers up to them and voted the new lot into the bottom tier, instead of the second tier. Now it's one big family in the SPFL - the big b'st'rds can use their muscle and vote Newco2 into whatever tier they want. 0 Quote Link to comment Share on other sites More sharing options...
BigBadSaint Posted March 27, 2014 Share Posted March 27, 2014 I think the £7.2M was for the same period for the previous year, not the previous 6 months. Ahh right....agree with your non playing staff costs comments....the majority of SPL clubs are paying their players at least 60-70% of their revenue and some of them are far from debt free and yet they aren't talking about potential not being a going concern and yet The Rangers are paying their players 30-40% odds and still there doesn't seem to be enough money to cover the amounts of money those in charge want to pay themselves for making dam all difefrence....maybe those club ties are really expensive. 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 27, 2014 Share Posted March 27, 2014 (edited) Technically incorrect on 2 counts. If it was straight liquidation then it would be a newco entering at the bottom again. If they are a new club then penalty for admin is 15 points not 25, 25 points is for clubs having another insolvency event within 5 years. Are you sure? Do the rules not refer to an "insolvency event"? Edited March 27, 2014 by Mr X 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted March 27, 2014 Share Posted March 27, 2014 Shite results. Operating costs have actually risen, despite a significant drop in playing wages. No detail at all on the Sports direct deal. Cash has reduced by £18M. Still losing around half a million per month. in the past 12 months they have spent £4M on assets that are not yet generating incremental revenue. Delivered with a thinly veiled threat, buy ST`s bears or you are fucked, but do not ask any questions or the Easdales will sue you. Does operating costs include the 101 pay offs to the assorted croo... businessmen? Rumours have always been that Rangers recieve very little from the sports direct deal, i doubt they'll reveal it anytime soon.. 0 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted March 27, 2014 Share Posted March 27, 2014 Just to clarify, administration would be deemed as an insolvency event. Yours aDONisSheep 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 27, 2014 Share Posted March 27, 2014 Are you sure? Do the rules not refer to an "insolvency event"? Insolvency rules E5 - http://spfl.co.uk/docs/067_324__therulesofthespfl_1375800603.pdf Where a Club, whether owned and operated by the same or a different Member, suffers or is subject to an Insolvency Event which results in a deduction of points in terms of these Rules and within 5 yearsof the date of such Insolvency Event suffers or is subject to a further Insolvency Event which is not part of the same Insolvency Process as the Insolvency Event then suffered, the points deduction applicable in terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25 points with the 15 points in Rules E2 and E3 being 25 Points. 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 27, 2014 Share Posted March 27, 2014 They do but the OP had originally referred to a straight liquidation, I thought the precedent had already been set for this by the Scottish FA. Liquidation is an insolvency event What precedent? 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 27, 2014 Share Posted March 27, 2014 Insolvency rules E5 - http://spfl.co.uk/docs/067_324__therulesofthespfl_1375800603.pdf 25 points it is then 0 Quote Link to comment Share on other sites More sharing options...
Double Jack D Posted March 27, 2014 Share Posted March 27, 2014 Would it? Last time the SPL rejected them and the SFL stuck two fingers up to them and voted the new lot into the bottom tier, instead of the second tier. Now it's one big family in the SPFL - the big b'st'rds can use their muscle and vote Newco2 into whatever tier they want. Why they would want them at any tier is amazing! These results are hardly a surprise, there has been no indication of cost cutting or increase in revenue so why would the results change drastically. The fact that they have lost £3.5m in the 6 months which would contain the vast majority of their income (ST sales etc) you can only imagine what their full year results will be. Without major funding they are not going to complete a season in the Championship. 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 27, 2014 Share Posted March 27, 2014 Of course but are you suggesting that a newco would receive that 25 points and carry on in the same division? Depends on whether Ranger accept that the newco is a new club this time or not Not totally impossible that a newco would be demoted to the 3rd again with a 25 point deduction. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted March 27, 2014 Share Posted March 27, 2014 This whole Rangers Retail scheme just sounds like another clusterfuck. Looks like Mike Ashley and Sports Direct are profiting more from any retail sales than TRFC. 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 27, 2014 Share Posted March 27, 2014 They are but Ahmed thinks this was a brilliant deal and is demanding lots of money for it. To be fair, all the other current and former directors are being paid for making awful deals, why should he be left out? 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 27, 2014 Share Posted March 27, 2014 It has nothing to do with what Rangers are willing to accept. Would be if the rules suggest otherwise of course. So whats your interpretation of the rules then? 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 27, 2014 Share Posted March 27, 2014 25 points, same club. Under what circumstances? Admin or liquidation? Admin is a pretty obvious one and I'd agree it would be 25 points. What about another liquidation and asset transfer? Do you not think that if Rangers try and claim the new-newco as a continuation of the club, as they did last time, that both penalties could apply? Re-application for membership and 25 point deduction 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 27, 2014 Share Posted March 27, 2014 Under what circumstances? Admin or liquidation? Admin is a pretty obvious one and I'd agree it would be 25 points. What about another liquidation and asset transfer? Do you not think that if Rangers try and claim the new-newco as a continuation of the club, as they did last time, that both penalties could apply? Re-application for membership and 25 point deduction Are you working on the assumption that they will go straight to liquidation? Presumably if they go into admin, and subsequent liquidation, that would be treated as the same insolvency event? 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 27, 2014 Share Posted March 27, 2014 membership as in SFA membership? this is a separate issue and one that has been discussed at length, nothing in the SFA rules has changed, the current membership would still need transferred between holding companies. Do the new league rules allow transfer of league membership between mew owners? I had a look for something specific on transfer of membership but couldn't see anything. Having said that, I might have missed it since my eyes started to cross! 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted March 27, 2014 Share Posted March 27, 2014 "Material uncertainty" - does that mean they are struggling to cut their cloth accordingly? Pretty soon the salient phrase will be "Touching cloth". 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 27, 2014 Share Posted March 27, 2014 Are you working on the assumption that they will go straight to liquidation? Presumably if they go into admin, and subsequent liquidation, that would be treated as the same insolvency event? I dont think it matters. As you say, if they go into admin first and then liquidate it would be treated as the same insolvency event membership as in SFA membership? this is a separate issue and one that has been discussed at length, nothing in the SFA rules has changed, the current membership would still need transferred between holding companies. Do the new league rules allow transfer of league membership between new owners? As Mark said, there doesnt seem to be anything in the rules covering membership transfers 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted March 27, 2014 Share Posted March 27, 2014 I dont think it matters. As you say, if they go into admin first and then liquidate it would be treated as the same insolvency event As Mark said, there doesnt seem to be anything in the rules covering membership transfers The cynic in me thinks that might be deliberate. 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted March 27, 2014 Share Posted March 27, 2014 Looks like it would be as you were then, points penalty applied immediately, new company picks up the club gets the SFA membership transferred and has to apply for acceptance to the bottom league. I agree. The question is, would the 25 point deduction transfer too? I think you could argue that the rules allow for it to, although its unlikely, if that scenario ever came about, that they would 0 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.