Charlotte Fakeover publishes Sevco 5088 purchase agreement for Rangers (in administration)
While the SFA’s investigation moves even slower than the internal Ibrox inquiry Charlotte Fakeover seems to have no problem in accessing the key documents at the heart of the matter which are likely to see the Ibrox side have their associate membership terminated by the SFA.
The validity of the Charlotte Fakeover documents have still to be confirmed but to most observers of the downfall of Rangers there seems little question about their authenticity.
At the heart of the matter there are two issues:
a) How administrators Duff and Phelps appear to be gearing all their efforts towards Sevco 5088 rather than creditors
b) How the football authorities were apparently duped into issuing associate membership to a club very clearly linked to Whyte who has a lifetime ban from Scottish football
The latest lengthy publications includes a 13 page agreement between Sevco 5088 and the company, effectively Duff and Phelps, which appears to have been signed by Paul Clark of the administrators on 12th May 2012.
That document covers every details and eventuality in the Rangers case under headings such as ‘Loan’, ‘Exclusivity’, ‘Asset Purchase’ and ‘Shortfall Funding’.
The second, and much lengthier document is titled ‘Sale and Purchase Agreement between SEVCO 5088 Limited and THE RANGERS FOOTBALL CLUB PLC (in administration) and THE ADMINISTRATORS.
This document details 36 different clauses and eight schedules. The clauses cover areas such as: Destruction of Assets, The Intellectual Property, Claims by the Purchaser and The SPL Share and the Membership.
In less than a week Charlotte Fakeovers has attracted over 8,500 followers with each announcement being eagerly dissected by internet bampots worldwide.
With the leaders of the SFA giving the entire episode a wide berth it looks like Charlotte Fakeovers and others will be required to shine torches while others would prefer to look the other way hoping that everything sorts itself out ‘for the good of the game’.
CLICK HERE to view latest documents