Neil Doncaster has again given his encouragement to the SPL inviting a newco on-board and claimed that there is little difference between forming a newco and going into, and emerging from, administration.
Without direct reference to the situation at Rangers there can be little doubt that new financial regulations are geared towards the troubled Ibrox club.
New punishments for clubs that fail to pay players or the tax authorities on time will be voted on but there was no mention of existing licence regulations which require clubs to produce audited accounts.
Rangers last audited accounts were published in December 2010. Setting out a punishment, in line with those issued by UEFA, for a club that fails to produce audited accounts would bring greater clarity to the whole issue.
“There is certainly a distinction between a CVA and a newco, without any doubt,” the SPL chief claimed. “But newcos have been allowed within UK football for many years, newco is typically the way that businesses in general escape from administration, it is far more common than a CVA route.
“So I am not entirely sure why such a distinction is drawn between the two routes out of administration.
“You achieve a sporting advantage over other clubs by going into administration, therefore you should receive a sporting penalty for going into administration in the first place, that seems to me to be entirely logical.”
Gretna and Airdrieonians were both liquidated without a newco being formed while Livingston and Dundee received footballing sanctions before emerging from administration through CVA’s.
Explaining next weeks resolutions Doncaster added: “There is a number of financial fair play resolutions to be considered, one of those will potentially increase the sanctions on any club going into administration in the future.
“There are two resolutions that deal with newco and what might be a penalty for a club escaping administration via a newco route.
“There are new resolutions that would make it an offence not to pay the players or the tax man on time and there are various tidying-up resolutions that will be considered.
“Separately, there will also be a members requisite resolution which is an attempt to change the voting rules in the SPL.
“The vast majority of votes in the SPL are carried on an 8-4 basis but there are some resolutions require 11 votes and the resolution that has been put forward by some clubs would be to change that to 75% in all cases.
“Finally, there is a resolution which would change the decision on a newco which is currently taken by the SPL board, to be taken by the members.”
Charlie Green’s CVA proposals are currently being drafted by Duff and Phelps offering a maximum of £8.5m to be shared amongst creditors.
That offer is almost certain to be rejected by HMRC and Ticketus since Rangers have substantial assets in the form of Ibrox and Murray Park as well as players.
The success or otherwise of a CVA won’t be known before next weeks SPL vote leaving the possibility that voting on the new resolutions could be delayed for a third time.
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I believe the £8.5million is not to be shared between the creditors, first the money owed to Duff & Phelps has to be paid from that which is around £3.6million and then there are a few other gauranteed creditors owed around £2million which means there would only be around £2.9million left for the unsecured creditors. Not much chance of HMRC or Ticketus agreeing to that shared out.
As Taxpayers fans groups should be thinking of taking court action against the Administrators from selling of the assets to the NewCo for the knock down price of £8.5million given that the sale of the players alone would bring in more money never mind the stadium or training ground.
Fans of other clubs shouldn’t be so willing to let Rangers ressurect within a NewCo with all the assets and no debt whilst making off with £95million of taxpayers money.
If Newco Rangers are allowed in to the SPL without the need to win any kind of promotion from the lower divisions, then sporting integrity is the loser and the competition compromised beyond repair. The SPL will no longer be able to advocate or promote decency and fair play while they encourage and assist criminality and cheating. In sporting terms, the SPL will become a complete farcical irrelevance to the rest of the world.
Imagine a scenario whereby 2 Newco Rangers are created, one created by the Blue Knights with the majority of the fans behind them, and the other by this new consortium led by Green. Which of the two Newco’s would be allowed into the SPL?
Can any team just lose their debts by creating a Newco and carrying on as normal without relegation or is it only Rangers who are allowed to do this? Maybe all the SPL teams should liquidate theirs companies at the same time? All 12 teams lose all their debt by creating a Newco and allowing their old official company to go into liquidation. Since all teams would be penalised points, it wouldn’t matter and no teams gets relegated. All debts for all teams just magically disappear! Or does bending of the rules only apply to Rangers? See how farcical all this is becoming?
I don’t think anyone is shocked at this long drawn out, carefully planned protection of the establishment club.
There is no doubt the delays have been the SFA and SPL way of getting together behind carefully locked doors to
figure out a way to get rangers out of all this without penalty.
The smoke and mirrors game of transfer enalties and points deductions are a joke. Let’s be honest, these delays are in hope that we will all take our eye off the ball long enough to allow another corrupt “rule change” which would clearly be to the advantage of the establishment.
The corrupt people in the small minded SFA and SPL aren’t about changevtheir ways now! Smoke and mirrors is all they have shown to date and all they will show.
HMRC don’t do walking away, Rangers have assets these will be used to get back monies stolen from their Majesty.
In Lizzy, Hector and Whyte we trust 😉
Believe this. Doncaster is paving the way for a Newco because he then won’t have to deal with the decade and more of cheating by RFC(IA).
A new club would not be responsible for the misdemeanour’s of RFC and amidst the chaos newco will be in the SPL and any paperwork relating to the previous clubs dealings will be “lost”. Interesting to read in the list of creditors a company owed £444 called Shred It Glasgow Ltd.
Wonder why Whyte employed them?
Confused? A Newco isny really Rangers so they dinny need te pay the oldco’s debt and there will be nae sanctions against them cos really they are a completely new club so shouldnae get penalised for the oldco’s cheating but they really are Rangers so as they get to keep their history and can remain in the SPL as if they are oldco Rangers as if nothing happened apart from all their debt disappears.