Brianb 0 Posted May 4, 2012 Author Share Posted May 4, 2012 It pains me that some of you dont really know the ins and outs of what is going on. It is not your fault. The media and the administrators tell so many half truths and lies. Below is a statement UEFA made this morning Uefa have made the following statement pertaining to newcos: “Clubs are not allowed to change their legal form or structure in order to obtain a licence, simply by ‘cleaning up’ their balance sheet while offloading debts – thus harming creditors (including employees and social/tax authorities) as well as threatening the integrity of sporting competition. Any such alteration of a club’s legal form or structure is deemed to be an interruption to its membership of a UEFA member association and, consequently, three years must pass before a club can apply again for a UEFA licence. In other words, the three-year rule is designed basically to avoid circumvention of the club licensing system.” The Uefa stance is clear and unequivocal on how it treats any newco created to shield a football team from any financial or regulatory ills experienced by the organisation from which it sprang. “If a club sets up a new company simply to avoid paying its debts or obligations then they would almost certainly fail the three-year rule [for obtaining the required Uefa licence],” a spokesperson for Uefa told The Scotsman. “This is to ensure clubs do not simply create a ‘newco’ and leave the previous entity in charge of dealing with debts.” I could have told you this last night. There is no way a newco would get entry to the CL. Re the point that a CVA will be agreed and the companies will merge if this was to happen it is crazy to think it will do in the next month. TBK were told just yesterday that a CVA was not deliverable. HMRC are gunning for us of that there is no doubt. A CVA will be next to impossible to achieve. Speaking with relevant financial people last night to a man they expressed their concerns that oldco will never merge with newco. You say I am being negative but it seems I am the only one asking the difficult questions. We cannot be led down this path again. And to Tannochside bear who clearly accuses me of being one of 'them' I only mentioned Celtic because someone asked the question. It is a fact that on companies house our Company SC004276- The Rangers Football Club plc will end up with status of: LIQUIDATION I am concerned. I am not a Tim. Actually a childish attitude to take just because I dont fall in with the rest and welcome BM. A guy who will asset strip, profit make and leave. A guy who admitted in a interview he knows nothing about 'soccer' 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted May 4, 2012 Share Posted May 4, 2012 Brian, thanks for patronising almost the entire forum but here's a simple question for you.... Given all that you have said above and UEFA's pretty clear ruling on Newco's, who do you want to take over the club and what makes things any different for them? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted May 4, 2012 Share Posted May 4, 2012 First of all, I don't liike anyone being accused of being a tim - let's play nice. Secondly, Brianb, I think you'll find this forum and it's members are more than capable of knowing what's going on. As a new member, I'll excuse your patronising tone but I do suggest you read the other threads and articles where we've constantly questioned the process, offered cynicism and communicated our concerns. I don't see many bears welcoming Bill Miller. However, at this moment in time, he's the one with the ball so it's up to the other bidders to get it off him. 0 Quote Link to post Share on other sites More sharing options...
Brianb 0 Posted May 4, 2012 Author Share Posted May 4, 2012 "If Rangers are guilty because of the actions of one man acting alone and should be thrown out for not having enough money to pay the bills, what action should the SFA have taken against a club I'm sure you know well who systematically covered up child abuse for years by passing it off as the evil doings of one man. Surely the club were guilty there too and should have been shut down, as paedophilia is certainly far more evil and wrong than being skint" Really? Is this how low you will go because you think I am a Celtic fan? That is really poor. 0 Quote Link to post Share on other sites More sharing options...
Brianb 0 Posted May 4, 2012 Author Share Posted May 4, 2012 Frankie Fair enough. Apologies I am just a bit annoyed at being call a Tim on my first post. The guy should be more respectful to people. 0 Quote Link to post Share on other sites More sharing options...
Brianb 0 Posted May 4, 2012 Author Share Posted May 4, 2012 Juancornetto I am here to ask questions about the guy who has taken over. Is he our only hope? It seems so. That does not mean we cant question him. I did not mean to patronise the whole forum. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 4, 2012 Share Posted May 4, 2012 Regarding the European point, that's only relevant if a CVA can't be agreed. If Bill Miller's plan works, and he can merge the old and new companies then there will be no loss of European football. I don't think a CVA will be as hard as many think. The only way anyone could turn down a CVA would be if the pot of money offered was less than could be generated from a sale of assets - but in this case all the assets will have been transferred!! It may take a while to pursue the legal channels to try and get the money from Collyer Bristow (sp) et al, but once that is complete there really is no reason for a CVA to be blocked. There may be difficulty in negotiating Craig Whyte's shares, but then if all he has is a shell of the current/old company, then it's completely worthless so why would he resist. How much will be left in the pot once these court cases have run their course? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,247 Posted May 4, 2012 Share Posted May 4, 2012 BTW, are we not all still quite confused about what will actually happen? Has Rangers FC plc been lqiudiated? Will it ever be liquidated? If not, can Rangers FC not just work along with two companies behind it ... like our friends from beyond the Clyde? Wouldn't it be good to see how MIller's plans actually work out before getting into crisis mode? UEFA introduced these new laws to make it more difficult for clubs to shed their debts et al in simple ways. Will they have to say something about the Spanish and Italian teams carrying billions of debts about ... and the countries actually thinking of cutting these debts while being in a state of financial disarray themselves? Wouldn't that be essentially newco-ing these clubs by another name? 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 4, 2012 Share Posted May 4, 2012 Frankie Fair enough. Apologies I am just a bit annoyed at being call a Tim on my first post. The guy should be more respectful to people. He's trying to repair his tarnished reputation by going down the timhunter route! 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted May 4, 2012 Share Posted May 4, 2012 Tell me Brianb oh wise one where in his business history has he ever asset stripped anything, taking a failing industry and turning a profit is not asset stripping. Yes he shut down parts of that industry that weren't working that to me is good business practise. Can you also tell me just what assets he will strip because I'm lost, nobody is going to pay 12mill for the land that Ibrox, Auchenhowie, and the Albion sit on so where is he going to make a quick buck. Think you need to look past your obvious hatred of the man. 0 Quote Link to post Share on other sites More sharing options...
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