Gabby

But how much will they sell the assets to newco for? £1 seems to be a popular figure these days. It certainly ain't going to be £134 million or anywhere close. The liabilities stay with the old company so the creditors get eff all. So, this is my understanding. There are 2 choices: Get 75% (by value) of creditors to agree to a Company Voluntary Arrangement or Scheme of Arrangement. e.g. for every pound owed you will get 30p and Rangers plc carry on trading Liquidate the old company and form a new one. The old company sells the assets like Ibrox Stadium and Murray Park to the new company for a nominal fee like £1. The debts stay with the old company so the creditors get nothing. Now I see why people are screaming for sanctions against a newco if they were to enter the SPL. Catch on quick don't I? The sale of Rangers to Whyte wasn't 1 pound. The actual sale amount was all the bank debt plus 1 pound. The confusion comes from the fact that he only used 1 pound of his own cash. Any new bidder will not be able to buy Rangers for 1 pound. For example the bidders would have had property consultants analyse the value of Ibrox, the Murray Centre so they can make an informed bid. It is also worthwhile noting that there is no relationship between Rangers and Newco. This is because Rangers would be liquidated before Newco would exist. In saying that there would be no legal issue (that I know of) that would stop Newco calling the club Govan Rangers Maybe you didn't notice I used the term "nominal fee" in relation to £1? Quite correct that Rangers plc and NewCo plc would be separate legal entities. Surely they can both exist in the same time frame though...no need for one to die before the other is born. Fair call. they can exist at the same time, I suppose I meant that they are trying for a smooth transition from Rangers in SPL to Newco in SPL

Yeah, he...and to a large extent Ticketus...have been very quiet and playing their cards very close to their chest. What is also interesting from the report is that it makes no mention of this "HMRC Deal" that they were on about where they are supposed to have given them some kind of promise to play nicely. Lots of people, including Administrators, seem to be assuming that the situation with Whyte is a done deal and he'll just hand over his shares....I suspect he'll only hand them over in return for the £30 Million he claims he is due. I've heard people talk of him being forced to sell, but I can't see any immediate or direct route to such action. Some have cited the Liverpool situation as an example, but in that case the owners of the shares had "toxic debt" with the bank and it was the bank who applied the pressure and ultimately forced the sale. Things like drag-along clauses and such do not come in to play as Whyte is the majority shareholder, so it could take months (with no guarantee) for legal argument to be prepared, presented and judged. Even if they go the liquidation route, then if Whytes claims that he is a secured creditor are true, then he would be paid..in full..ahead of anyone else. Again, the legal argument could tie it all up for months...if not longer. In short, Whyte has them by the nads and one way or another he is going to get his money. There was never a deal with HMRC. Rangers have allegedly made 2 offers to HMRC and they were both were rejected. There is a really good blog about this at rangerstaxcase.com. Def worth a look.

But how much will they sell the assets to newco for? £1 seems to be a popular figure these days. It certainly ain't going to be £134 million or anywhere close. The liabilities stay with the old company so the creditors get eff all. So, this is my understanding. There are 2 choices: Get 75% (by value) of creditors to agree to a Company Voluntary Arrangement or Scheme of Arrangement. e.g. for every pound owed you will get 30p and Rangers plc carry on trading Liquidate the old company and form a new one. The old company sells the assets like Ibrox Stadium and Murray Park to the new company for a nominal fee like £1. The debts stay with the old company so the creditors get nothing. Now I see why people are screaming for sanctions against a newco if they were to enter the SPL. Catch on quick don't I? The sale of Rangers to Whyte wasn't 1 pound. The actual sale amount was all the bank debt plus 1 pound. The confusion comes from the fact that he only used 1 pound of his own cash. Any new bidder will not be able to buy Rangers for 1 pound. For example the bidders would have had property consultants analyse the value of Ibrox, the Murray Centre so they can make an informed bid. It is also worthwhile noting that there is no relationship between Rangers and Newco. This is because Rangers would be liquidated before Newco would exist. In saying that there would be no legal issue (that I know of) that would stop Newco calling the club Govan Rangers

I'm not defending their position. My personal view is the Rangers should be punted and Newco FC start in Div 3. I am willing to bet that the SPL Executive to trawling through their Rules and Regs looking for a loop hole for Newco FC. As I keep saying, I really, really hope this doesn't happen. However every decision has consequences, and the consequences for SPL without Rangers (or without Celtic if the circumstances were different) means a lot less income for all clubs.

Had to laugh at this. It's a google map of Rangers Creditors https://www.google.com/fusiontables/DataSource?snapid=S445544OYPe

The bidders for Rangers will liquidate to sell the assets to a newco operated by themselves. The proceeds of the sale will be divided amongst the creditors. This means they can play out of Ibrox etc and be debt free. What this means is Rangers FC will no longer exist, and a new club will rise out of the ashes. This is why the name Govan FC keeps getting used. So the answer to your question is Yes.

I have never been of the opinion that Scottish football needs Rangers. My opinion has been that the overall commercial value of Scottish Football is vastly higher with Rangers. This hasn't changed. The commercial value of Scottish Football isn't just halved if Rangers go under, the commercial value of Scottish Football would be about 10% - 20% of its current value. Celtic also have some important decisions to make because their income (from TV and ticket sales) will be drastically reduced without Rangers. I believe that if Rangers are liquidated and Newco FC is born, they should not be allowed automatic entry into the SPL. However, I don't believe for a second this will happen because commercial realities dictate that Newco FC have to be in the SPL. I really, really hope this doesn't happen, but it will. Since this is a certainty, then the other 10 clubs should wedge Newco FC to agree to new income splitting and voting arrangements. This is the best outcome for everyone. It's a battle of ethics vs Money - Money will win every time and twice on Sundays.

And here's me reading this post whilst eating my dinner.

HT: 0:0 FT: 1:0 1st scorer us: Tade 1st scorer them: O'Connor Crowd: 3272 ++++JOKER+++

HT: 0:0 FT: 1:0 first scorer us: Tade first scorer them: Sandaza Crowd: 2972

Ironic isn't it, when Celtic say they gang of 10 are showing disrepect for Scottish Football when they have been trying thier best to join English league. The gang of 10 need to stay strong, if they don't win now they will never win.

HT: 0:0 FT: 1:0 1st scorer us: Tade 1st scorer them: Fallon Crowd: 8272

Admitedly I have only seen our TV games, but from what I've seen leaves me feeling a bit sorry for Tade. He rarely gets the opportunity to create, he doesn't benefit from midfelders making space for him and he spends a great deal of time chasing lost causes. the bloke deserves a medal.

I think the plot is well and truly lost

Suck it up princess. You need to be have thicker skin if you want to be a ref.

Laura, I am really sorry to hear this news. My deepest sympathies go to you and your family.

HT: 0:0 FT: 1:0 1st scorer us: Tade 1st scorer them: Dayton Crowd: 3672

What I don't understand is how 7 parties think Rangers is a good buy. Murray had to give it away for a pound because nobody would touch it. Now the circumstance are much worse and groups are lining up.

His tactic seems to be that he is a secured creditor. This means that he would have first crack at the assets. He was trying to be repaid money that he hasn't actually paid. His number is up. He's done this successfully before but I can't imagine why he would think he would get away with it with a football club. Whyte wasn't interested in being a Director - his focus was being a secured creditor. And that has failed badly. He thought he could make good coin based on a 1 pound investment. In breaking news it seems that the wage reduction agreed by Naismith et al is good for 2 months only. They are obviously banking on a quick sale by someone with a lazy 70 million pounds they are happy to p1ss against the wall.

We export Fosters so we don't have to drink it. I'm not sure they even bother trying to sell it here anymore.

Nectar of the Gods

1 beer can - give me a break. Fast forward to 2min 25 sec of this clip This is why we only get plastic cups of beer at the football now. It was a good night at the football though. Disclaimer: I don't condone this, I didn't participate in this. But only because I wasn't prepared to throw perfectly cold, full cans of XXXX

It is really good to see the other 10 members showing leadership on this.

The don't need it to run the game, they need it to finance the game. A TV deal is essential not just because of the income it directly generates. it also impacts on the value of sponsorship that individual clubs attract. TV deals ensure a level of national exposure. Please do not under estimate the value of indirect revenue from a TV deal

The "ninetendo effect" is just an excuse. Every country in the developed world has computer games and the internet so if this was a significant issue then every sport in every developed country would be in attendance decline. This is simply not the case.