If rangers get away with this you can pretty much bet that hearts and a few others will follow suit. Therefore can only be the third division next year with **** all players, as who is going to stay and play in the 3rd division?
Firstly, congrats on the League. You guys certainly deserved it this year. You have been the best team. Back onto this thread. I was a worried Rangers fan so started doing some digging into the NewCo method. This is the method used by Leeds United and Fiorentina for example. It allows you to transfer the business (the club) from the company, to a new holding company. The old company is then liquidated. I can explain in more detail or answer any questions if you have them. Really not on the wind up. Just want to clarify questions that everyone is asking and the media seem to have no interest in investigating. Anyway, enjoy your party! We will be back challenging next year (points penalty permitting!).
Mitre points penalty this year is not the reason you are not going to win the league. Points penalty was only given because you blatantly broke the rules of the league. Liquidation took Leeds from Champions League football to also rans in lower league football in England. I am not so sure that that would be a pleasant easily swallowed pill for the "establishment " club who for decades has had the referees and the men who run Scottish football at their beck and call. Surely if you wish to pontificate on liquidation, do so, but do so on the Rangers forum as it is of little importance to Celtic supporters who are looking upwards and outwards positively and don't need the negativity surrounding Rangers.
To be honest mate, I think we will be up against it, certainly for next year. Imagine if we do go down the NewCo route, then we will probably be hit with a 15-25 point penalty. That will be way too much to overturn. GIve it a year or two though and we will be back to strength.
Super, Ive created a thread over on the Rangers page. Ive just joined though so it is with the Mods till it appears. You guys had the biggest discussion on the subject, so thought I would put my input in. I certainly didnt claim that our penalty points this year were why we lost the league. I have admitted you were the best team. You are 17 points ahead just now, so even with the 10 point penalty you have clearly been better. I do agree that Leeds went from a position of strength to a low, but I dont see the impact being as great in Scotland. Lets face it, both the Old Firm teams are a mile ahead of the rest. Also, If the club does manage to shed its debts, but retain future income, then we should be able to get back on track. What we do have to do is follow Celtic's model and bring through young talented footballers that can be sold for a profit.
Haha, Thats the big question. What security does Whyte have on it! I imagine worst case scenario, we will be able to rent it back from him, that is if he no longer owns us! Got a sneaky felling he might try the pre-pack himself.
So a brand spanking new football team is going to come on the scene and all the people who used to support Rangers are going to all support this new team?
No, it would be the same club, and most likely a majority of the same players. Only difference would be that it sits inside a different legal entity of a holding company. We dont support a company though, we support the club.
Just to clarify mate if you will. Any club can bump all and sundry, majorly the taxpayer, for mega millions, ditch the old PLC and appear the next season right as rain ready to compete for honours? What's to stop everyone else doing it? Legal or not and I don't claim to be an expert but that idea is morally repugnant, no?
Yea its controversial mate, im not going to deny it! There have been lots of discussions about changing the rules for Pre-Packs but none have been passed. Basically what keeps it ethical are the following points:- 1. If the previous directors have been really dodgy (think Whyte fits into here) then they will be banned as a company director. This then means they cannot then take control of the phoenixed club. It would therefor need to be sold to a different party. As the club itself cannot be guilty of wrong doing, it is correct to punish the people who caused it, whilst keeping a major employer in operation. 2. In the sale prior to the Pre-Pack being authorised, an indepandant surveor must value the assets so that they are equal to what will be achieved at market rate. This will however be much less than they will be listed for on the accounts though. This value must then be paid to the old company prior to the sale being completed. This ensures that the creditors get a fair deal on the liquidated assets. Will probably end up costing a little bit less than the CVA, but has complications with aspects on if Whyte owns Ibrox.
Is it not? I thought the process would be as follows:- 1. Winding up order served. 2. Assets are put up for sale. 3. Assets sold to new company. Maximum value achieved by selling for purpose as a football team. 4. 'Goodwill' bought from old company by new company. 5. Players tansfered to new Company under TUPE to ensure they are retained rather than becoming creditors and diluting pot. 5. Rangers now sit under new company, with complete history. 6. Old company liquidated.
**** away off Rangers, as a club, have been riding roughshed over the rules for years and now they want to say 'Whoops, sorry about that, slight accounting error by certain individuals, let's all move on.' If Rangers are allowed to walk away with this with a slap on the wrist then Scottish football may as well shut up shop. It wont be fit for purpose. It wont happen of course. This story has plenty to run.
Thats where Football clubs are a bit unique though. In no other form of business would these opinions exist. If the management completely changed in your local shop, then not many people would be calling for santions on the new owners. Thats where I suppose you could say we have hit it off lucky. Hey, it wasnt our fault anyway, why punish the fans for the actions of some unethical business men? The law remains the same regardless of the industry.
The fans saw the benefit also. All those players they would probably not have afforded if they had hit with a straight bat like everyone else. All those titles won by said players. As I said above, I haven't a clue if it's legal or not but it's rotten. I also don't think your scenerio will play out, not least if UEFA come into play.
