Looks like Succulent lamb is back on the menu? GERMAN football legend Felix Magath has bought one per cent of Rangers and outlined his vision for the footballing future of the cash-strapped club. Record Sport can reveal the former Bayern Munich boss has emerged as a major and serious player following talks over the last week with influential figures around Ibrox. One German source said: “Felix does not care about names – he focuses only on performance and attitude, whether it is a star, an established player or a youngster. This is why he brought out so many young or unknown players.” Now he could be ready to weave his magic again as the Godfather of Govan in what would be one of the boldest and most audacious appointments in the history of the Scottish game.
A number of companies run by former Rangers owner Sir David Murray are being wound up. The metals and property entrepreneur has petitioned the Court of Session to appoint Deloitte as liquidators for Murray Group Holdings. The action is also being taken for subsidiaries Murray Group Management, Premier Property Group and Murray Outsourcing. Notice was given on 5 January but only published on Tuesday 13 January. The documents state that a meeting was held in Edinburgh at which Sir David Murray conceded that company liabilities have forced the action. His business empire has run into conflict with its pensioners over a lack of funds to fulfil their expected pensions. It has been reported that there is a £22m shortfall in the pension fund, and pensioners will have to take reduced pay-outs as a result. Liquidation follows moves, under pressure from the Bank of Scotland, to sell off various assets which Sir David Murray had owned. The highest profile sale was of Rangers. With control of 85% of shares, Sir David sold them to Craig Whyte for £1 in 2011, while it carried debts of £18m. Its assets were subsequently liquidated. Under new ownership, the football club remains the subject of intense controversy and speculation about its future. Following the finance crisis in 2008, the Bank of Scotland required Sir David to sell property, metal suppliers and Response outsourcing and call centres, some of which his family had bought through its different companies. In the case of Murray Group Management Limited, formerly Murray International Holdings (the parent company), the general meeting passed the resolution: "That it has been proved to the satisfaction of this meeting that the company cannot by reason of its liabilities continue its business and that it is advisable to wind up the same". The move puts the companies into the control of John Charles Reid and Christopher McKay of Deloitte, as joint liquidators. The notices published on 13 January in the Edinburgh Gazette state that creditors have eight days to respond. In a statement on Wednesday, the joint liquidators said they would "manage the orderly wind down of these nine entities in accordance with their statutory duties. "Creditors' meetings will be held for these companies in due course." The nine companies are: Murray Outsourcing; PPG Land; Premier Burrell; GM Mining; Murray Group Holdings; Murray International Holdings; The Premier Property Group; Murray Group Management; and MMH NSS.
From STV... Mike Ashley has posted notice of his intention to take out security over Rangers' Ibrox Stadium. Documents seen by STV show that Sports Direct have filed their intent to add their name to the title deeds of the ground. Ashley has 35 days to complete the application but the lodging of documents indicates the owner of Newcastle United could be set to provide a secured loan to Rangers to provide badly-needed cash. Rangers have stated they currently do not have enough cash to trade until the end of January. Ashley notice of intent does not guarantee he will be the one to provide funding to the club but the move is significant for two reasons. Firstly no other party has previously been able to secure a loan against Ibrox because of a contingent liability listed in the club's accounts. The liability relates to a case brought by Craig Whyte, who claims he is the legal owner of the asset. Secondly the move by Ashley means that should any other party step up to provide funding to the club, they would not be able to secure their loan against Ibrox as the document lodged by Ashley takes precedence. The notice of intent would first have to expire before a security could be lodged. The club were unavailable for comment when contacted by STV on Thursday morning.
Big Mick can't have read the script, this is not how a sugar daddy is supposed to act. Never gonnae hear the champions league music at this rate ffs
Why doesn't this thread appear in the Celtic forum index? Well it doesn't ****ing appear for me anyway.
