2012/2013 Season Thread

[Lethal10]

There might not be a Rangers of any description next year.

The wheels have fallen off Green's wagon already and reports suggest f the club isn't sold again soon administration will soon follow.

It seems Green had thought Rangers would stay in the SPL and be able to sell valuable players to balance the books.

Now his investors are bailing out too according to rumours.

After weeks of Rangers fans jumping right back on their high horse, planning the demise of all the other teams apart from the invincible Rangers, this is going to be a bitter blow.

[The Milner]

Thats exactly it, he thought he could come in, start a new company, transfer all assets to the new one and sell off everything he could to balance the books, he obviously was either very badly advised or did not have a clue what he was getting into, i would suggest the former would be truer. He would have been wrongly advised on the powers of TUPE in this situation and now he is panicking. There is no way he will take the PFA to court over players registrations, they wont win, the PFA are not wrong on these things, neither are the highly paid footballing lawyers working for the players, it will be a pointless excercise and another huge waste of the clubs money.

[Lethal10]

D&P valued Rangers assets at nearly £130m and Green paid £5.5m plus fees.

Maybe this scenario was his real masterplan to make a quick buck?

[MattJimF]

To be honest I think this was Craig Whyte's masterplan as well, but his involved having a European run for a few years as well, which got them into this mess in the first place.

It seems that the club is just attracting asset strippers who don't fully understand the full scale of how fucked the club was financially and how much hatred there is from other fans over the whole debacle stopping the masterplans from succeeding.

[FOX]

You could write a bestseller on this whole godforsaken mess. I can't imagine that any of the First Division clubs - except perhaps those wooed by the financial/sentimental prospect of having Rangers on their pitch once a year - voting them in. And anyway, if Rangers do get into Division 2/3, would they? They'd probably have to sell Ibrox off since Christ knows nobody would bother going to see Rangers v Montrose (except maybe me, lol), they'd realistically have a lot of issue motivating players to show up to the games, they'd presumably be forced to charge away fans less given the calibre of the league...

Really, it'd be easier to just blow the whole thing up.

[Sam 45]

D&P valued Rangers assets at nearly £130m and Green paid £5.5m plus fees.

Maybe this scenario was his real masterplan to make a quick buck?

There was a report going around that about a couple of weeks after Green bought the club for 5.5, a couple of Glasweigan businessmen were willing to pay 11 for it. If he wanted a quick buck, there was his chance.

[Adam Easy Wishes]

They won't sell Ibrox, because their plan will be to get back into the SPL as quickly as is possible. So in four years if they're relegated to Div3. Doesn't make economic sense to sell a stadium suitable for the SPL and then have to buy one again so soon.

[Soda Jerk]

http://www.bbc.co.uk/sport/0/football/18603617

More walking away.

He seems like a tosser most of the time, but McGregor is a good keeper. Someone will snap him up fast.

[delboy]

This Rangers fiasco is just running on and on and is getting boring, wish they could find a solution. If they are dumped in division 3 they should be hit with a massive points deduction as well. I remember when Luton were hit with a 25 point deduction a few seasons ago on top of the 10 points admin deduction, didn't something similar happen to Dundee as well?

Still back to the Euros tonight, thank god its an England free zone! Hopefully a good game tonight, I think the Spanish might get beat tonight.

[soundian]

If they are dumped in division 3 they should be hit with a massive points deduction as well.

That doesn't make sense to me.

Oldco should be hit with the penalties, newco should apply for membership of the SFL. Applying penalties imposed on a different legal entity to the newco would probably fail when they inevitably challenge it, but they cannot be allowed to remain in the league (any league) if they are a separate legal entity.

[The Milner]

Some people have too much time on their hands or they hate Rangers just that bit too much,

To be sung over the top of American Pie........

A long long time ago

I can still remember how

Those bigoted songs used to make me bile

And I knew if HMRC had their chance

Then they could make the people dance

And maybe they'd be happy for a while

But February made the HUNS shiver

With the wind up order they delivered

Bad news on their doorstep

They couldn't take one more step

I can't remember if I cried

When I read about their cheating & lies

But something touched me deep inside

**The day, the Rangers died**

So Bye, bye I’m gonna laugh till I cry

Drove up amounts to the accounts but the accounts were dry

Murray , Greene & Whyte just told you lie after lie

Singin' this'll be the day Rangers die

This'll be the day Rangers die

Did you write to the HMRC

And do you have faith in The Queen

If the Taxman tells you so?

Now do you believe in paying debts?

Did you ever worry about Creditors frets?

And can you teach us how to balance books real slow?

Well, we know that you are vile Scum

Cause you’re one half of a dirty bum

You played inelligible players

That couldn’t answer your European prayers

You were a ghastly steamin pile of muck

Who really didn’t give a f(_)ck

But we knew you were out of luck

The day the rangers died

We started singin'

[Chorus]

Now, for twenty years we've been on our own

While Murray grew fat on a rolling stone

But, that's not how it used to be

When Eoin Jess sang for the king and queen

With a shot he borrowed from McGhee

And a voice that came from you and me

Oh and while Murray was looking down

He stole from every other club in town

The courtroom was adjourned

No verdict was returned

And while Murray read a book on Tax

The Minkers cheated on the park

And we were all left in the dark

The day the Rangers died

We were singin'

[FOX]

Can't see Portugal winning tonight. I still think that, barring Ronaldo, Portugal's squad is mediocre at best and really pales in comparison to the Spanish, German and Italian ones. I'm seeing people tipping Portugal to win the whole thing now, but to win games you need to be a team, and right now they're Ronaldo and his band of not-very-good players.

[Soda Jerk]

Nah. Their defence is good. Pepe especially, despite being one of the biggest, most horrid bastards ever, is a very good defender. I thought Nani was excellent in the last game too. He's racked up a couple of tidy assists and he's been causing all kinds of problems. He's been decent throughout actually. Veloso is a very good player but he's not been at his best in this tournament, though he's done well in patches. They've played some great football at times, and that was in the group stages when Ronaldo wasn't even playing that well. I don't think he properly came alive until the quarter finals.

[Adam Easy Wishes]

Ronaldo 'doesn't do' group stages, obviously.

[FOX]

Nah. Their defence is good. Pepe especially, despite being one of the biggest, most horrid bastards ever, is a very good defender. I thought Nani was excellent in the last game too. He's racked up a couple of tidy assists and he's been causing all kinds of problems. He's been decent throughout actually. Veloso is a very good player but he's not been at his best in this tournament, though he's done well in patches. They've played some great football at times, and that was in the group stages when Ronaldo wasn't even playing that well. I don't think he properly came alive until the quarter finals.

Yeah, but Spain and Germany hardly have any rubbish players, whereas Portugal have this clown:

I sort of hope Portugal win though, if only to make it an interesting final.

[Soda Jerk]

Meireles is so bad. I have no idea why Chelsea paid money for him. He might even be worse than Mikel.

[Sam 45]

How comes when Rangers got liquidated their assets weren't sold off to pay back creditors? That is the normal process of liquidation isn't it?

[Chris]

How comes when Rangers got liquidated their assets weren't sold off to pay back creditors? That is the normal process of liquidation isn't it?

It's a big question. HMRC just stepped aside at that point and let it happen. I think they said they'd rather let the newco get on with it and it enables them to begin a full investigation of David Murray and Craig Whyte and they would rather try and recoup the creditors (or at least HMRC's) money from them.

The other point I'd love to see addressed is that the act of liquidating one company and immediately transferring the assets and trading to a new company is defined as corporate fraud and asset stripping by the SFO

http://www.sfo.gov.uk/fraud/what-is-fraud/corporate-fraud/asset-stripping.aspx

And it certainly fits some of their key factors for acceptance before they take on a case

http://www.sfo.gov.uk/fraud/sfo-confidential---giving-us-information-in-confidence/serious-fraud-office-[sfo]-criteria.aspx

[Adam Easy Wishes]

How comes when Rangers got liquidated their assets weren't sold off to pay back creditors? That is the normal process of liquidation isn't it?

I could be way off but they were sold, to Charles Green, were they not..? Where did his £5.5m go?

[Chris]

I could be way off but they were sold, to Charles Green, were they not..? Where did his £5.5m go?

£5million will go to Duff and Phelps to pay their bill. Though HMRC can challenge that bill in court before it's paid.

[Adam Easy Wishes]

I presume Green didn't simply acquire Rangers FC plc's assets without paying for them, though? If I'm correct in saying Green paid £5.5m and £5m of that is on the administrators bill then did he really only pay £500k for Ibrox, Murray Park etc?

[The Milner]

If any of the rumours ive read are true this is far from over.

Anyway, the end is near. Green has setup his prepack 1 company

"This new company was registered as RFC 0712 Limited on 21 June and changed its name to RFC 2012 Limited the next day. (Might just have been as admin error, so can't read much into that.)

The registered office is the address of MacRoberts, solicitors, the same address as Sevco Scotland Limited, which was the Scottish company Green set up last month, and not to be confused with the English/Welsh company Sevco 5088 Limited whose registered office is Green's London solicitors.

The sole director of RFC 2012 Limited is Green. There were 2 shares initially created, both owned by Green."

Bascially, its beginning to look like he will wind up Sevco, transfer all assets to RFC 2012 and sell them off one by one, or another scenario mentioned would be for him to try and lease the ground to whoever tries to start Rangers back up again.

[Moose]

I'm going to have a Rangers liquidation party.

[FOX]

I'm going to have a Rangers liquidation party.

We can all drink ... Rangers liquid. Actually, um...

[MattJimF]

so that would be Carling or McEwans