Duff and Phelps have accused the SFA of trying to put Rangers out of business.
After ten weeks in administration Rangers look no closer to emerging with a CVA or having a credible plan to go forward as a club.
No serious bid has been made for the club but with attention increasingly turning on the performance and agenda of the administrators Duff and Phelps believe that a transfer ban could kill off the club.
The irony of owing money to clubs in Scotland, England, Austria, Sweden, France and Italy seems to be lost on Duff and Phelps who appear to be speculating towards another transfer warchest appearing during the close season.
Duff and Phelps are no closer to resolving any of the key issues crippling the club but have opted for the populist stance of passing the buck elsewhere.
Dave Whitehouse of Duff and Phelps claimed:”The decision to prohibit the Club from signing new players is akin to a court ordering the administrator of a trading company not to buy stock.
“The principal operating and trading asset of a football club are its players and an inability to sign new players frustrates both the ability of the company to trade and the statutory objectives of administration.
“The football authorities are fully aware that we are in the throes of an extremely complex insolvency situation. There has been widespread support across the political spectrum and in the football world for Rangers to be saved as a club and a viable business, last night’s decision can only hinder rather than help.
“It is extremely disappointing that approximately three weeks ago purchasers were at the point of confirming unconditional offers which would have achieved the purpose of administration.
“This process was first delayed by the announcements of the SPL to implement the rule changes to be considered on 30th April, and has now been further hampered by the sanctions imposed last night.”
Warning over the commercial damage to the game of Rangers having to live within their means like all other clubs Whitehouse added: “We are unsure as to whether the judicial panel fully understood or considered the commercial impact upon both the Club and Scottish Football of these measures, nor are we satisfied at this stage as to whether these sanctions are indeed lawful.
“Clearly time is running out to achieve a sale of the business or a CVA and the Club can ill afford further legal arguments. Accordingly, we are urging both football authorities to adopt a more pragmatic approach to sanctions to ensure that the administration of Rangers Football Club can be brought to a conclusion at the earliest possible date for the good of not only the Club but also for Scottish football generally.
“We would then encourage the footballing authorities to introduce a framework so as to provide clarity in circumstances such as these going forward, rather than allowing arbitrary measures to be introduced on an ad-hoc basis which clearly impede a process of administration.
“We are sure the authorities recognise that any potential purchaser or investor in a football club must have clarity in relation to its future playing capabilities and revenue potential. By failing to provide clarity in relation to pragmatic and commercially sensible penalties the authorities are by default prejudicing the survival of one of the clubs whose existence is key to the well being of Scottish football.”
Perhaps if Duff and Phelps had acted as most administrators do to rescue an ailing business Rangers problems wouldn’t have reached their current state.
An apology for defaulting on payments to other football clubs at home and abroad would be a decent start and gain the club some sympathy rather than the constant need to create and highlight issues which are largely irrelevant in the bigger picture.
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Blame – blame – blame…everyone but themselves.
No-one in their right mind would think of throwing money into Rangers FC so why don’t they admit it. Murray took 4 years and had to stah £ 50m worth of debts back into MIH and still couldn’t find a buyer until Whyte put up £ 1.00. Now they have the cheek to say the SFA have put off potential buyers…dream on
Duff and Duffer,fat sal,and everyone connected to the govan mob are blaming the SFA and anyone they can think of for the penalties imposed on the for their crimes against every club in scotland when any sane person can see they brought all this on themselves. I think they got off very lightly. And theyve not got a penny to sign players even if they wanted to.
The buyers fighting to buy the Huns have came up with every excuse in the book not to buy them so this ban on buying players and the fine have just came at the right time another excuse just when they were running out of them. How can a club complain that stopping them from buying players when they can’t even pay the wages for the mugs they have just now or pay the clubs for the ones they have bought borrowed or stolen from already is some how a bad thing ? Hail hail Craig whyte csc
whose fault is it now !
its neil lennons fault, u kno tht. stupid!
is it just me who can see right through this????
theyre basically making the liquidation route look even better than the CVA route. as far as i know the transfer embargo wont apply to a newco (although i need to check if this depends what division they start in)
AND, the move suggests that theyre blaming the whole thing on craig whyte, when he is only a tiny half segment of the problems they’re facing.
Murray had got rangers into this huge mess that was inevitably going to be uncovered, so he found a mug in craig whyte to take it off his hands and take all the blame as well, he’s got away scott free up to this point.
If murray gets away with this then none of what’s happened now matters, rangers want liquidation, administrators want liquidation, and now clearly the sfa want liquidation, and they want to cover up everything that went on before craig whyte, because if that gets found out then ogilvie and the others involved will be called front and centre for all to see.
You’re not alone Mharkopolo, for quite some time now I too have felt that Whyte was just a patsy.
Hilarious interview with Ian Paisley impersonator John McMillan from ragers supporters association who was eventually cut off but not before reverting to type and blaming….yes you’ve guessed it….Neil Lennon
http://m.soundcloud.com/jinkylarsson/john-mcmillan-rsa-getting
Thanks and Well done Gerry for giving us access to this, find it hard to contain my contempt for this idiot, What an absolute clown heis, never answered a question with a straight answer, they really are a desperate lot, good riddance to this moron and the team he follows.
Mharkopolo…good point…as far as I can gather if they stay in SPL the sanctions are eligible but if they go to SFL there would be no sanctions on transfer of players at any age….they are going down the tubes, they have reached the point of no return…unless they can find themesleves a real billionaire they are finished….and no-one in their rite mind pumps money into an unsaveable ship!
HH
just heard that RSA phone in, just sums them all up. cant think of any good answers, and so all he can think of doing is talk about how much he hates lennon, what. a. plonker.