Players union boss Fraser Wishart has warned Rangers fans that forming a newco would be far from painless.
With liquidation of the club becoming more and more likely the focus of attention in recent weeks has been on how Rangers can re-emerge back into the game.
The SPL will vote on new proposals to allow one member club to transfer their membership to a newco in a move designed to assist Rangers in the event of liquidation.
A number of legal issues are likely to remain outstanding, including the ownership of Ibrox and Murray Park, making the formation of a newco in time for next season a race against time.
Getting a team of players on the park has almost been forgotten with no real indication available about funding, season ticket, commercial and sponsorship income.
A new Rangers could be hard pressed to match the terms on offer elsewhere in the SPL with the days of five year deals on £20,000 plus per week consigned to the history books.
Discussing the player issues with the Daily Record Wishart revealed: “There has been a lot of chat about possible transfer from old Rangers to a newco and discussions about the implications in terms of creditors and football regulations, points penalties and financial penalties.
“One of the things that has been forgotten about is our members. It’s not necessarily the case, in our opinion having taken legal advice, that the players have to go across to a newco.
“Should a newco be formed the players do not have to go across. They have the right to object to that transfer.
“There may well be complications in terms of FIFA regulations and football regulations. I don’t think the football authorities have any right to force someone to go and work for a new company should they not wish to.
“And it will be a new company, whatever it is dressed up as. Our position I think will be supported by the football authorities.
“If players do go across their contracts are protected. The newco would have to take their whole contract, wages, terms and conditions. They may all wish to go across.
“The players are aware of their individual rights but none of them have come back to me.
“I don’t think anyone is actively searching for a way out but we are hitting real tight time deadlines. In three weeks’ time the season finishes, players go on holiday.
“They don’t know whether they are coming back, some of them who are out of contract don’t know what state Rangers are going to be in.
“There is a lot of talking to be done and the players are getting frustrated. I think it’s so important, given the size of the debts Rangers have, that someone is given exclusivity as soon as possible.”
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Sounds like the wonderful players who took a savage cut in wages to save the tea ladies at Ibrokes are getting ready to walk away .
We will see who doesnt do walking away .Theyll scurry away like the rats they are!
Who’s going to pay the wages after the 1st of June when they go back to the original contracts ? It’s all over a think once the players don’t see anything going in the bank there attitude might change. Can’t wait for the big fall when I said to a bun at work a think they will fold his answer was ” never happen we’re far to big a club for that some one will save us ” that’s why a think it will happen because everybody is waiting on someone else to do it. They were 4 yrs on the market and the only guy willing to put his pound in was Craig whyte ( csc) that says it all. Bye bye rankers you won’t be missed. Hail hail
Why didnt anyone buy them from david”dick turpin” murray? Put them to the sword .
Bothered???? “let thum burn!!!” HH 1NL WATC 😀
This Wishart guy is an unmitigated failure as a Union Rep.He allowed these players to take up to 75% wage cut.The players were forced to accept the cuts by public and madia pressure.If this idiot had enough sense he would know as everyone who has a brain realises Rangers are liquidation bound and this farce could have been all over .McCoist,the 600quid an hour Adminsrators ,the media and Wishart, the big Union man, are responsible for this loss of wages and the endless saga of more money for these 600 pound an hour fools.Rangers first eh Wishart,you and McCoist have really screwed the players, and the club haven”t you?.
bye….bye……scumgers…
Fraser Wishart sounds like a right clueless erse to me. He says “If players do go across their contracts are protected. The newco would have to take their whole contract, wages, terms and conditions. They may all wish to go across”. Of course he is talking rubbish. Any Newco would have nothing to do with the old liquidated Rangers FC. because if they had, they would be liable to pay all the outstanding bills to the creditors. That means if Rangers are liquidated, all player contracts are void.
Any “Newco” would need to recruit new players from scratch so obviously the players currently contracted with Rangers FC would have a choice to sign up with the “Newco” or not, but they would need to renegotiate their contracts with the “Newco” as THEY WOULD BE DEALING WITH A COMPLETELY DIFFERENT ENTITY and of course all other (wealthier) teams would also have the chance to sign these players as they would all be FREE AGENTS.
They should know better, but the way the MSM and others are talking, they think Rangers FC just need to change their names to something like Glasgow Rangers FC and everything will be the same, only the outstanding 135 million pound bill will “disappear”, and a new Huns team will emerge with the same playing staff, no debts, and the same football ground! Denial in Hunsville is bigger than a river in Egypt. Fools and idiots the lot of them!
Just to help the Scottish Mainstream Media and all the other dickheads who can’t seem to grasp the meaning of liquidation let me spell it out for you:
Liquidation is a formal procedure whereby a liquidator is appointed to ‘wind-up’ the affairs of a limited company, which involves selling the company’s assets and paying creditors. When all the assets have been sold and the money distributed, the company is dissolved, which means that it no longer exists.
Note above WHEN ALL ASSETS HAVE BEEN SOLD AND MONEY DISTRIBUTED TO THE CREDITORS THE COMPANY IS DISSOLVED.
I’ve said before, Ibrox and Murray park are ASSETS that need to be sold to pay the creditors. If some shenanigans have taken place to per-emtively effectively transferring the major assets, (Ibrox and Murray park), into another company’s assets, then the fraud squad would need to get involved, as this would (or should) be seen as illegal corruption on the part of whoever was involved in doing this as it would clearly be seen as illegal actions in order to avoid paying taxes and paying bills.
It will not surprise me if the police need to get involved, arrests are made and jail term served.
Another question that needs to be asked is are the players considered sell-able assets? If the answer is YES then it is the liquidators legal duty to sell these players to pay off debts to the creditors.
I would love to see murray in “D” hall in shotts,ha ha ha .
I’d heard that if RFC are liquidated then the players can leave for free. If so then maybe fat sally does’nt do walking away but his players will & while Celtic fans Conga.
P.S. congrats to NL for the 2 game ban – 17 games my arse. Looks like he was right to oppose the cheating refs.