Given the many strands of the Rangers saga it is sometimes easy to forget about what is still to come down the pipe.
Many inhabitants of Planet Fitba seem to inhabit a toddler time zone as they appear to have no conception of anytime other than NOW!
I have been informed by an impeccable source that the enquiry into the takeover of Rangers in early 2011 is now “at an advanced stage”.
My guy said that the cops involved were about to move to the “interviewing suspects mode very quickly” and I have no reason to doubt him.
The liquidators BDO are likely to be fully operational next month.
I spoke to a chap with a forensic accountancy background last week to get a handle on how this part of the fiasco might play out.
When I asked him about the timescale of the BDO probe into Rangers (1872-2012) then I must have sounded like an impatient toddler to him.
I asked him when he thought the BDO investigation would be finished and he said it could take five years.
When I heard that I felt like stamping my feet.
This saga is going to run and run.
royster
What has happened to the appellate tribunal?.Scottish cup ban ruled insufficient,transfer ban not allowed within the rules,interesting one that last one as the ruling bodies have ignored a lot of rules as regarding, well let me see, their own rules! However i do actually beleive that patience is a virtue, and if it takes 5 years for the full outcome, the fantastic work by yourself and others willbe fully recognised , even in the MSM! Forever in Celtic all the best phil.
September 2, 2012 at 12:31 pm
James Alexander
If you are so concerned about financial wrong doings in Scottish Football where are your and and your friends investigations into Celtic cheating the Taxman and other Scottish clubs by fiddling their home attendances in the past ? Or are you only guided by your sick , narrow minded bigotry ?
September 2, 2012 at 10:45 am
Jim Wood
Like a previous post Phil,
Newco same old SFA.
Sleekit Sally and Mr Green both get off with all their actions that instigated numerous instances of discomfort at the receiving end of their bile. Courtesy of the SFA our impartial governing body,as led by the even handed Mr Ogilvie lately of Govan.
Anyone surprised there? thought not.
It all stinks, even The Rangers FC fans I know are finding this all a bit embarrassing. If no one shines a light on them they will get away with it forever.
Keep at them Phil.
August 30, 2012 at 8:41 pm
Green shoots
Well, I thought this would be as good a place as anywhere to congratulate Neil & the squad for making the champions league.
So, how can the hacks compliment Celtic for their progress….. But still say that Scottish football is dying or a Dim Traynor reported “Armageddon” was upon us…
Once again, congratulations Celtic to putting Scottish Football back on the map for the right reasons.
August 29, 2012 at 11:56 pm
Ben mcginlay
It’s a good a place as any. Thought the atmosphere was magic last night. Well deserved win and some good football to look forward to. Green brigade were amazing as well.
August 30, 2012 at 6:03 pm
Phil Mac Giolla Bhain
I was in Section 113-right next to the GB-they were brilliant.
August 30, 2012 at 8:38 pm
gazthechef
messi and inniesta will be fighting over paddy mccourts top!!!
August 30, 2012 at 9:11 pm
Mouldy67
@@@OSCAR KNOX APPEAL @@@
Hello , just to let you know that I am planning to take part in a 50 mile cycle from Glasgow to Edinburgh, 09/09/2012
During the next 2 weeks I plan to train very hard in order to be able to take part in this cycle where I would hope to be able raise some funds for “Wee Oscar Knox” who is 3 year old kid and is not keeping very well just now.
You can read Oscar’s story on web link below….
http://www.justgiving.com/Team-Oscar-Knox-Appeal-Cycle-09092012-Paul-Muldoon
In the meantime, all donations are welcome, thanks
August 29, 2012 at 11:52 pm
Frankier
I bought a car from a small company which went into liquidation, shutters put up overnight, but the liquidators managed to get full payment of £1 in the pound for every one of its creditors, in my own case over £300.00. This happened more than five years ago but I still get letters from Price Waterhouse regarding stuff like VAT etc. that they are still pursuing. I can see this r”ngers the dodos saga going on for at least the next ten years.
August 29, 2012 at 2:02 pm
Mouldy67
OSCAR KNOX APPEAL
Hello , just to let you know that I am planning to take part in a 50 mile cycle from Glasgow to Edinburgh, 09/09/2012
During the next 2 weeks I plan to train very hard in order to be able to take part in this cycle where I would hope to be able raise some funds for “Wee Oscar Knox” who is 3 year old kid and is not keeping very well just now.
You can read Oscar’s story on web link below….
http://www.justgiving.com/Team-Oscar-Knox-Appeal-Cycle-09092012-Paul-Muldoon
In the meantime, all donations are welcome, thanks
@67mouldy67
@weeoscar4life
@wee_oscar
August 29, 2012 at 10:53 am
Dal
There’s been people from Dark Ibrox on radio recently. They want us to be silent about their misdeeds. Doubtless they’d prefer us to be submissive, to forget about their ill-gotten titles, embezzlement and friends in high places. It’s not that simple. There remains a ‘secret society’ within our football hierarchy, who have to be constantly monitored. It’s beneficial to society in general that they be held to account. Otherwise we’ll continue to be a parochial laughing stock.
August 29, 2012 at 10:09 am
michael mccahill
Another great read Phil, what gets me is that any fool can see the assets that cheeky charlie bought were purchased far too cheaply. How can D&P justify selling these assets to Green for £5.3m minus £2.75m Prize money? D&P were supposed to be working with the best interest of rangers creditors. These assets would have achieved possibly as much as 20 times more in the open market. Why were the assets not stripped and sold off individually? Ibrokes to Tesco, Murray park to home builders etc? Cheeky Charlie Green with the help of D&P have totally ripped off the tax payer and I just can see them getting away with it for too long. In the meantime the MSM and trfc newco are acting as if they never had to liquidate…reality check coming their way, hope it don’t take 5 years tho. HH
August 29, 2012 at 9:43 am
SamBrowneBelt
Oh dear, Phil, you’ve been rumbled; exposed as a charlatan who pulls the wool over our eyes; you and your fellow internet bampots.
It all became clear last night on the Clyde phone-in, when that nice Gordon Smith clarified matters for us. Gordon, remember, was in a position to know, given his previous roles at Ibrox and the SFA.
Apparently it’s the same Rangers; same ground, same strips, same supporters, and so, the same Rainjurz! The last few months have just been a blip in an unbroken history. Oh, apart from the debt stuff, which Charlie Chuckles shouldn’t need to pay, because, … erm … it’s a different company, but, …, erm, not a different Rainjurz. Oh, and there’s no point in stripping them of any titles, because, well…, they don’t exist now … except they’re still the Rainjurz. Following the logic…?
He also explained that what Rainjurz had been guilty of was an “administrative error”. Honestly, those were his very words. A few callers tried to argue, but the spin doctor was in top form, and unchallenged by the others in the studio.
So there we have it, all sorted. What a storm in a teacup it’s all been! You’ve duped us all!
August 29, 2012 at 1:06 am
The Wallace
On your ‘Club and Company’ blog a contributor called EFFenning showed a link to a Chuckles Green’s company document, it looked like some kind of prospectus for The Rangers company. Anyway it had a breakdown of finances which I could not read clearly because I was using my phone to look at it. One thing I could sort of make out was total assets it looked like either £113 or £103 million. But when I went to check again this document no longer existed at that address. My nephews, who know of these things, say that it looked like the document has been taken down, done a moonlight flit so to speak. Can anyone tell me what the real figure was or where to find said document it looked like a damn fine read. Or has it become another piece of evidence that has been ‘disappeared’?
August 28, 2012 at 9:10 pm
damian g
The Wallace, I managed to save the document before it was taken down. I’ve copied the relevant bits below and it was indeed £113M (property portfolio).
Recent History
- Previous owner Craig Whyte owned 85% of shares; 26,000 fans owned remaining 15%
- 9 January 2012: Shares suspended on Plus Markets with a Market Cap. of £25m
- 14 February 2012: RFC into administration with creditors totalling between £75m and £135m, depending on HMRC player test case
- 23 April: Scottish Football Association (SFA) announce sanctions on the Club including:
- 12 month embargo on signing players aged 18+
- £160,000 fine – 13 May: Charles Green agrees exclusivity to buy the club
Current Situation
- 13 May 2012: Charles Green agrees exclusivity
- Rangers FC avoids liquidation via CVA subject to creditor’s approving £8.5m offer
- Main benefits: – Players contracts remain in place – Other significant sanctions avoided, such as a 3 year ban from Europe – History and tradition of the club is maintained – Personal up front commitments from consortium, £8.5m required to fund CVA – Raising up to £30m to fund working capital and development – Funding to be in place by May 24th
- Charles Green draws together first class management team and Board
- Complementary investment team appointed to help direct the Club’s strategic growth
Management Overview
PLC Board:
Chairman – TBA
CEO – Charles Green
CFO – TBA
Non Exec – Zeus Capital Appointment
Non Exec – TBA
Football Club Board:
Chairman – PLC Board
CEO – Charles Green
CFO – PLC Board
TBA
TBA
TBA
TBA
TBA
Current Balance Sheet
- All creditors to be wiped clear on consideration of £8.5m save for £3m being owed to other football clubs
- Brought forward tax losses of £40m to remain in place subject to HMRC approval
- A Property portfolio of £113,303,174 (source: Rangers plc 2011 accounts)
- Season ticket advances due by the end of 2012 of £15m
- Player book value £8.8m (source: as above)
- On a £30m fund raise a net £20m will be surplus cash on balance sheet
August 30, 2012 at 12:38 pm
tony d
20 years ago they may have got away with this, in fact they prob. would have, BUT the Internet bampots will NOT let it go, the MSM are trying there very best to sweep it under that well used carpet and they are beeling, people have had enough of them the MSM have put there own jobs at risk letting people like Jack Irvine run the MSM here in Scotland is a bad move, most newspaper sales are at a very alarmingly low ebb as people are not daft they know the score this North Korea move on all is well with the institution will not wash, it will be a case of time and we have plenty of that but in the end it will be said that”THE REBELS HAVE WON”
August 28, 2012 at 10:46 am
SamBrowneBelt
Not probably would have, probably did. Why would we believe that their cheating only goes back a decade or so? It’s intrinsic in their very nature, they need to be the best (by fair means or foul), because they arra peepul!
August 28, 2012 at 6:55 pm
Kevin
Paul Mc,
The 5 stars are still on the jersey – it’s much smaller and discreet.
If you go on the Amazon website and type in ‘Rangers boys home shirt’, you will see in the third image that the 5 stars are there.
August 28, 2012 at 8:19 am
PaulMc
I checked and they are there. Mea culpa. Amazing how a comment about five wee embroidered stars gets the bears all riled up.
August 28, 2012 at 12:42 pm
Neil
check out the shirt against Berwick, there are no 5 stars, unless they are that discreet thay are on the inside!
I stand to be corrected
KTF
August 29, 2012 at 7:28 am
droid
Is it possible Lord Hodge is cognisant of the concurrent criminal investigation and has withheld a determination until developments enter the advanced stage?
Surely more than mere synchronicity….
August 27, 2012 at 11:16 pm
CHRIS
The five stars are still on the tops numbnuts
August 27, 2012 at 10:34 pm
whale oil beef hooked
Not for long
August 28, 2012 at 9:54 am
Ben mcginlay
Maybe they are, but why the insults, are you worried about something ? The stars are a joke anyway.teams with stars on their tops represent the amount of times they have won the European Cup/Champions league, not for a star for every ten league titles( several of the last will be getting removed, probably). Oh well another disgruntled klan member lost in cyberspace looking for reassurance, help,hope. You are better looking for the truth I find. And you wont get that in the pages of the MSM.
August 28, 2012 at 4:50 pm
mark wallace
the 5 stars aint gone, do your research, they are on the side of the jersey, obsession by celtic fans always and forever, but never obsession with things within their own club, and not historical issues but current ones, i,ll email you a list phil and maybe you can get your “experts” to voice an opinion on these, i wont hold my breath though
August 27, 2012 at 10:23 pm
SamBrowneBelt
You can have as many stars as you like … they count for nothing, other than to highlight the fact that you’ve never won Europe’s biggest club competition. Big clubs tend only to have stars when they win the Big Cup, nothing you’ll ever need to worry about.
August 28, 2012 at 12:45 am
The Wallace
My question is on the same line as Tambutnotbam, what happens if Lord Hodge finds irregularities, does this keep BDO from the door for a while longer or can they go to work if Lord Hodge orders a separate inquiry into said possible irregularities?
By the way five years is a long time to hang by the neck,
Hail, Hail.
August 27, 2012 at 9:42 pm
Mouldy67
@ OSCAR KNOX APPEAL
Hello , just to let you know that I am planning to take part in a 50 mile cycle from Glasgow to Edinburgh, 09/09/2012
During the next 2 weeks I plan to train very hard in order to be able to take part in this cycle where I would hope to be able raise some funds for “Wee Oscar Knox” who is 3 year old kid and is not keeping very well just now.
You can read Oscar’s story on web link below….
http://www.justgiving.com/Team-Oscar-Knox-Appeal-Cycle-09092012-Paul-Muldoon
In the meantime, all donations are welcome, thanks
August 27, 2012 at 8:25 pm
tambutnotbam
Whats then happened with Lord Hodges demands placed on Duff and Phelps Phil when he demanded they show him evidence they did not act under a conflict of interest in their administration of Rangers ?
Lord Hodge instructed that unless and until he seen that clear proof then he would disallow Duff and Phelps to sign off on their administration processes, in effect Rangers would be banned from going to the next natural stage liquidation where BDO have been forced to sit on the sidelines for more than 9 weeks since Lord Hodges Court ruling on 22-6-12.
August 27, 2012 at 7:52 pm
Ben mcginlay
You will not hear a peep of this from the MSM. It will be shockerooney time when the facts do eventually surface. Looking forward to your next post. Think there could be a few more books in the pipeline Phil, maybe even a hollywood movie with follow ups, could be Scotland’s version of the Rocky movies. Could call them the Rocky road to ruin parts 1,2,3 and 4… Fun fun fun all the way.
August 27, 2012 at 6:33 pm
PaulMc
Five years? Not that long considering the Asil Nadir investigation took twenty!
August 27, 2012 at 6:26 pm
Dhougal
cont. However they didn’t reckon on THE HOOPlaS ,for they were now in control.As the PRIZES rolled in the fans o the game and winners would take the candy apples ,GOLDFISH (again) and the sombreros ,leaving only the GONKS N TEDDYBEARS …………..NOBODY LIKES THEM………….And nobody cares !!! ( hic,burp hic )
August 27, 2012 at 6:15 pm
Mouldy67
OSCAR KNOX APPEAL
Hello , just to let you know that I am planning to take part in a 50 mile cycle from Glasgow to Edinburgh, 09/09/2012
During the next 2 weeks I plan to train very hard in order to be able to take part in this cycle where I would hope to be able raise some funds for “Wee Oscar Knox” who is 3 year old kid and is not keeping very well just now.
You can read Oscar’s story on web link below….
http://www.justgiving.com/Team-Oscar-Knox-Appeal-Cycle-09092012-Paul-Muldoon
In the meantime, all donations are welcome, thanks
August 27, 2012 at 6:04 pm
Dhougal
BrillPhil ,I’ve just had a summer at the FAIR ,where i heard people shouting ”taxes,creditors,charity” ,others shouting ”DODGEM ,DODGEM . Of course these peepul were a bit COCO ,NUTS even ! ,SHY at paying their debts . However ,they were living in a GOLDFISH bowl and being run by CLOWNS . They tried hiding things behind a HALL OF MIRRORS but were inTENT on cheating
August 27, 2012 at 6:02 pm
williec
BDO Can also nullify the entire SEVCO deal. Spending money in Charlie’s Share option scheme somehow seems like a bad move.!! This fiasco has so much more to give!
August 27, 2012 at 5:57 pm
Baresi
Will any on them try walking away to Ecuador?
August 27, 2012 at 5:54 pm
Martybhoy
I thought they wouldn’t kick a ball under any name this season………I was wrong!!!
I think Ticketus and Agent Whyte will bring this shameful episode to a sticky end for all concerned
long before I Can’t Believe It’s Not Rangers’ attempt a share issue under Eebagum Charlie……Got a feeling I won’t be wrong again!!!
August 27, 2012 at 5:49 pm
franco
5 yrs……oooooft must be pretty messy then phil…oh well CL nite to look forward too….hh
August 27, 2012 at 5:08 pm
whale oil beef hooked
Great news for us addicts!
August 27, 2012 at 5:04 pm
Stevie
The story that just keeps giving.
Sit back and enjoy the ride.
August 27, 2012 at 3:45 pm
joe burt
Squeeky bum time for quite a few Phil.I have also heard that BDO are very agressive in there investigations and if they cannot recover from the company they have no hesitation in going for individuals.They may demand the pay back of all “loans” paid through EBT`s second contract which will be very intresting.
August 27, 2012 at 3:29 pm
tjm
Can BDO demand that sevco stop using the name and anything identifying them with oldco immediately?
August 27, 2012 at 3:28 pm
Oz Chris
So where does the money for a 5 year investigation come from??
August 27, 2012 at 3:15 pm
The Red Telephone
Oz,
Funny as it may seem, I think HMRC will pick up BDO’s tab. Funny old game, eh?
August 27, 2012 at 9:25 pm
Ignoranceisnodefence
And yet…they will still be able to trade under the name…Rangers, will still lay claim to the oldco history, will still have the SFA, SFL, SPL MEDIA dancing to their tune and, as history has shown, the truth will be lost in time as History as the people writing the History will be those to whom the oldco and old ways meant so much….the establishment.
Or, then again, WILL IT?
Not when we have all us internet bampots being educated and kept in the know by people like you Phil.
I might just have to write to my MP to ask him to raise a question on the ‘legality’ of a NEW company, using the name of a ‘liquidated’ business, being allowed to ‘trade’ under that name so as to give the impression that it is still the same business. All this being overlooked by the authorities and debts to creditors being ‘abandoned’ as they have been walked away from.
Keep up the good work.
August 27, 2012 at 3:05 pm
SamBrowneBelt
If we get 100,000 on a petition is it not the case that it MUST be debated in Parliament?
August 27, 2012 at 11:07 pm
Dougie
5 Years?
Nice work if you can get it.
Still, they say that all things come to those that wait
August 27, 2012 at 3:03 pm
robertg
Maybe the 5 stars on the badge are a prediction of the 5 years the investigation will take….
I have to say that the prospect of more juice being squeezed out over that period of time is a bit like being assured for that for the next 5 years at least Santa and the Tooth Fairy will each continue to exist and deliver their bounty.
It would just be good to get the first few quid and the new Celtic strip some time in the near future.
August 27, 2012 at 2:56 pm
PaulMc
The five stars are gone from the jersey. I wonder why?
August 27, 2012 at 6:27 pm