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What will you do if new Rangers are allowed straight into SPL?  

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It's not just Sally's pay packet.

 

Liked this little gem from the Observer today

 

Fresh starts of the week

Rangersrunning up a new £14.4m loss a year after liquidation; and ex-Rangers chief executive Charles Green – spending his £933,000 pay deal on an 18th century French château in Normandy, with space for 30 horses. Green told Ouest France: "This is where I start my new life. It's as if the castle said: 'Buy me'."

 

So that's where Greeno's gone! :shock:

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It's not just Sally's pay packet.

 

Liked this little gem from the Observer today

 

Fresh starts of the week

Rangersrunning up a new £14.4m loss a year after liquidation; and ex-Rangers chief executive Charles Green – spending his £933,000 pay deal on an 18th century French château in Normandy, with space for 30 horses. Green told Ouest France: "This is where I start my new life. It's as if the castle said: 'Buy me'."

 

So that's where Greeno's gone! :shock:

GUESS WHO "APPARENTLY" still owns Rangers >

Auditors Deloitte also addressed the letter warning of legal action by former Rangers oldco owner Craig Whyte and his associate Aidan Earley, who claim to be the rightful owner of the club's assets through involvement in Sevco 5088 Limited, which previously agreed an exclusivity deal for the club's assets with administrators Duff and Phelps.

This won't go away and accounts have had to state it.

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Sunday night, things are quiet. This 'light hearted' piece lifted from the TSFM web site.

 

If you imagine the scenario, a well known SFA board member talking with the 'compliance' officer regarding a lower division club. :wink:

 

Every day I have to call the compliance and monitoring guys:

” Eh have you seen this? Have you been notified that he is a director?”
” No boss – never seen that? Never knew it existed?”
” So who owns the company if that is correct?”
” Eh Dunno boss — not sure of anything over there any more!”
“Ok have you checked the titles with the lawyers?”
” yes but the title as registered looks ok, but there is no guarantee that it hasn’t been sold to someone else and they have not registered their title for the moment!”
” Have you spoken to the lawyers? Have you asked for clarification?”
” yes Boss — the Lawyers don’t really answer our questions– well at least not fully!”
” What about these accounts – there are 57 pages there – what do they tell us?”
” Well they tell us that the figures are not good, boss, but not immediately critical.”
” Are they paying their taxes?”
” Appear to be boss– but we can’t be sure.can we? We were told they were paying their taxes before and … well you know the rest.”
” Ok, but Pinsent masons rule out the Whyte guy being involved?”
” Ah well not really – they don’t go into the company he says he owns – they sort of ignore that part!”
” But they carried out an independent investigation, surely?”
True boss, but the independent investigation was only into what the non independent guys wanted investigating Boss, and they appear to have finished their report without speaking to all the witnesses.”
” Ok but the accounts – what do the accounts say about Whyte being the real owner — I mean they are from Deloittes for God sake – they must make the position clear?”
” Well we have had a look at them boss and in that regard the accounts are King Kenny!”
” King Kenny?”
” Aye King Kenny Boss – with regard to Whyte’s claim they say ” maybes aye– maybes naw” and they leave it at that”
” Jesus, well have you written to the Directors?”
” Aye – half the letters have come back marked “Gone away”.Boss”
” Do you know who the shareholders are?”
” Naw Boss”
“Do they have a bank account and a bank reference ?”
” Naw Boss”
” Who’s coming to the next meeting from their side?”
” Dunno Boss”
” Is there anything you can tell me that lets me close this file and get it off my desk for good?”
” Naw boss”
” Well who did we grant membership to last year?”
” The first time or the second time Boss?”
” What do you mean – first time or second time?”
” We started out granting membership to one company and then changed it to another”
” Two companies – owned by the same people?”
” Dunno Boss– but they sounded the same.”
” And which one got a licence?”
” Dunno boss”
” What?”
“Was the licence not granted by Mr Longmuir boss? And then ratified by us as a formality?”
” Why are you asking me, you are the compliance guys?”
” Aye but we were told it would all be ok by … well by someone ….. and by Mr Longmuir”
” When did he tell you that?”
” Told us one day at Ibrox Boss – I think it was at half time?”
” Half Time?”
” Aye – though it might have been full time boss ….. free bevvy and sandwiches so can’t quite remember”.
” Well who has the paperwork?”
” Lost boss”
” Lost?”
” Yes Boss – it was meant to come up from the SFL but never appeared. Turns out that the SFL was run as an unincorporated body and none of its records etc, are intact or have ever been audited …… Boss. Mr Ballantyne might have them in his garage Boss! ……… Boss? ….. are you still there? Boss?”

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What financial disaster?

 

Oh wait a minute, what's this I'm hearing about Mather riding off on his white (or should that be Whyte) charger to South Africa to plead with King, the man who was under scrutiny for alleged tax evasion, to plough a few millions into the fast dwindling coffers.

 

And so the merry-go-round goes round.

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The 'SFA' are monitoring the 'SEVCO' situation closely, everything must be above board because the 41 clubs that make up the remainder of whatever the Scottish football league is called nowadays have not indicated to the SFA that they are unhappy with the situation. (makes me wonder just what you have to do in Scotland to be investigated by the authorities).

 

Question: Should SEVCO be allowed to admin their way up the leagues?

Edited by Indicator
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The 'SFA' are monitoring the 'SEVCO' situation closely, everything must be above board because the 41 clubs that make up the remainder of whatever the Scottish football league is called nowadays have not indicated to the SFA that they are unhappy with the situation. (makes me wonder just what you have to do in Scotland to be investigated by the authorities).

Question: Should SEVCO be allowed to admin their way up the leagues?

Answer: Yes. Because they are The People.

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Fines or R3.208m for tax evasion or 24months in prison should disqualify King on the grounds of "fit & proper person" criteria with regards to being a director of a football club under the authority of the SFA.  No doubt we will see a subtle shift in the rules to accomodate him.


 
 
"The fraud charges against King were not pursued by the State and King accepted liability in respect of 41 lesser counts of contravening Section 75 of the Income Tax Act.

This includes the failure to disclose information and the failure to provide correct information about incomes earned over a number of years.

King appeared before the Palmridge Regional Court on Thursday and entered into a plea and sentencing agreement with the NPA.

King has to pay a fine totalling R3.208m (R80 000 per count) or 24 months imprisonment.

In addition, he was ordered to pay an amount of R8.75m towards the Criminal Asset Recovery Fund."

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Is the HMRC appeal against the judgement re EBT's still to be heard? Our know-all radio pundits never seem to mention it.

 

Yes it is still to be heard. But at the end of the even even if the HMRC win they won't receive any money as Rangers were liquidated unless the receivers have any of the money left from the sale of the assets but that should all have gone now.

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From the Herald Scotland tabloid.....

 

 

RANGERS will only have about £1 million of their cash reserves left by next April, it has emerged.

The figure was revealed by Rangers' finance director Brian Stockbridge 10 days after the club's annual accounts revealed its cash balance was £11m at June this year. Mr Stockbridge ­indicated April next year would be the low point, with "over a million" left, and an "optional unsecured facility provided should we need it".

The amount does not take into account revenue generated by Rangers Retail, which Mr Stockbridge said was ahead of budget. He made the remarks at a meeting with supporters' groups.

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From the Herald Scotland tabloid.....

 

 

RANGERS will only have about £1 million of their cash reserves left by next April, it has emerged.

The figure was revealed by Rangers' finance director Brian Stockbridge 10 days after the club's annual accounts revealed its cash balance was £11m at June this year. Mr Stockbridge ­indicated April next year would be the low point, with "over a million" left, and an "optional unsecured facility provided should we need it".

The amount does not take into account revenue generated by Rangers Retail, which Mr Stockbridge said was ahead of budget. He made the remarks at a meeting with supporters' groups.

 

 

Roll on next April then

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Dave King has accepted the offer of a position on the board of Rangers.

 

http://www.newsnow.co.uk/h/Sport/Football/Scottish+League+One/Rangers

 

Fit and proper........Not a chance!!

 

If the SFA have any credibility they should throw him out.

 

I'm sure a little reinterpritation of the rules will see him through.

Edited by Blues Brother
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