dtmuir 3 Posted July 31, 2012 Share Posted July 31, 2012 http://www.rangers.co.uk/news/football-news/article/2866402 Quote Link to post Share on other sites More sharing options...
Blue corn flakes 1,282 Posted July 31, 2012 Share Posted July 31, 2012 Debt free Quote Link to post Share on other sites More sharing options...
dtmuir 3 Posted July 31, 2012 Author Share Posted July 31, 2012 THE Board is delighted to confirm that the official name of the company that owns Rangers is being changed to The Rangers Football Club Limited. This process was completed following an Extraordinary General Meeting of 'oldco' shareholders today when procedures were approved that enable Sevco Scotland Limited to change its name to The Rangers Football Club Limited. Charles Green, Chief Executive of The Rangers Football Club, said, "The process that took place today is the penultimate piece of the jigsaw that will see The Rangers Football Club move forward, with the transfer of SFA membership being the final piece. "As every fan knows, Rangers is Rangers - it always has been and it always will be. The Club still has its 140 years of history and we are now embarking on the next 140 years."We are back playing football and the Board is focused on rebuilding this great Club over the next few years. "Our fans were fantastic on Sunday at Brechin and their support at Ibrox and away from home this season will be instrumental in helping the team achieve the success we all desire." Quote Link to post Share on other sites More sharing options...
Gaz92 966 Posted July 31, 2012 Share Posted July 31, 2012 I'm sure that won't stop some though! Quote Link to post Share on other sites More sharing options...
J_RFC87 752 Posted July 31, 2012 Share Posted July 31, 2012 Debt free In any normal business anywhere else in the world that undergoes this process from administration would be debt free.However, the SFA have demanded footballing debts are transferred over to newco. Something that is an absolute shambles of a decision and once we get ourselves sorted out, should be taking this decision to court. Quote Link to post Share on other sites More sharing options...
Marco 1,385 Posted July 31, 2012 Share Posted July 31, 2012 In any normal business anywhere else in the world that undergoes this process from administration would be debt free.However, the SFA have demanded footballing debts are transferred over to newco. Something that is an absolute shambles of a decision and once we get ourselves sorted out, should be taking this decision to court.Whilst I can write a thesis on the SFA's incompetence/corruption, this is one element I feel we should pay back. Remember, the rules regarding the insolvency of football clubs are slightly different to those for regular corporate entities. Pay what we owe for players - our name has been dragged through the mud enough. Quote Link to post Share on other sites More sharing options...
Eric_Caldow 60 Posted July 31, 2012 Share Posted July 31, 2012 In any normal business anywhere else in the world that undergoes this process from administration would be debt free.However, the SFA have demanded footballing debts are transferred over to newco. Something that is an absolute shambles of a decision and once we get ourselves sorted out, should be taking this decision to court.I think we would claim that the SFA terms were signed under duress. Since they were technically preventing us from operating our business with their ridiculous terms. Quote Link to post Share on other sites More sharing options...
GMac 1,405 Posted July 31, 2012 Share Posted July 31, 2012 Sevco Wonder how it will be spun though. Quote Link to post Share on other sites More sharing options...
GordonR 0 Posted July 31, 2012 Share Posted July 31, 2012 "As every fan knows, Rangers is Rangers - it always has been and it always will be. The Club still has its 140 years of history and we are now embarking on the next 140 years.that part should be in bold for timothy Quote Link to post Share on other sites More sharing options...
Peasie 103 Posted July 31, 2012 Share Posted July 31, 2012 Whilst I can write a thesis on the SFA's incompetence/corruption, this is one element I feel we should pay back. Remember, the rules regarding the insolvency of football clubs are slightly different to those for regular corporate entities. Pay what we owe for players - our name has been dragged through the mud enough.Agreed - so Rangers £1.3M prize money from last season should not be retained by the SPL Ltd, it should go to Scottish football clubs first, then if anything left, European clubs. It should not be distributed among SPL clubs that may not even been owed money by Rangers. Quote Link to post Share on other sites More sharing options...
Eric_Caldow 60 Posted July 31, 2012 Share Posted July 31, 2012 Whilst I can write a thesis on the SFA's incompetence/corruption, this is one element I feel we should pay back. Remember, the rules regarding the insolvency of football clubs are slightly different to those for regular corporate entities. Pay what we owe for players - our name has been dragged through the mud enough.Although there is no rule in Scotland for the repaying of football debt like they have in England, I agree it is a good idea to pay it anyway. However, this should never have been part of the conditions set by the SFA. Quote Link to post Share on other sites More sharing options...
BritishBear 34 Posted July 31, 2012 Share Posted July 31, 2012 Whilst I can write a thesis on the SFA's incompetence/corruption, this is one element I feel we should pay back. Remember, the rules regarding the insolvency of football clubs are slightly different to those for regular corporate entities. Pay what we owe for players - our name has been dragged through the mud enough.Yes, it's important also in the sense that if we hadn't done this, we would probably have to pay the whole fee upfront for a good number of years.From now on it will be back to Rangers no more writing the holding company's name, because that is now much longer and as we know, journalists are all lazy bastards. Quote Link to post Share on other sites More sharing options...
J_RFC87 752 Posted July 31, 2012 Share Posted July 31, 2012 Whilst I can write a thesis on the SFA's incompetence/corruption, this is one element I feel we should pay back. Remember, the rules regarding the insolvency of football clubs are slightly different to those for regular corporate entities. Pay what we owe for players - our name has been dragged through the mud enough.I think the RFFF's morals, the entity that embodies Rangers' fans and what we stand for, done very well in helping Dunfermline out with some cash. Other football clubs are key stakeholders for Rangers in terms of transfer of players, so having paid up our all debts would have been in Rangers' interests. Given the RFFF stance, I would have no doubt Rangers would have done this anyway.This is a moral gesture beyond the laws of an insolvency process (which in our case, all debt will be wiped out).However, what annoyed me was the SFA's demand to transfer the footballing debts over. Since they don't have space in their tiny brains for morals, reason, logic or ethics, they would have never understood Rangers and/or the RFFF helping to pay back our footballing debts as a goodwill gesture and demanded we transferred them over. On what grounds can they do this? The SFA are not above a court of law. They have been a shambles in their organisation since 14 February 2012 and should have been taking insolvency advise immediately. They clearly didn't understand the process and look how we've ended up.The SFA should not be picking and choosing which creditors to pay. Why not HMRC? I pay my taxes - why shouldn't Rangers have this debt transferred over? Why not the many many other creditors that have been ditched? Again, they don't understand the meaning of their own decision.My point is, the SFA = Quote Link to post Share on other sites More sharing options...
jonbryce 63 Posted July 31, 2012 Share Posted July 31, 2012 Not quite yet. They have had the paperwork approved by the shareholders. Now it has to be sent to Companies House along with a payment of £10 for each name change, and once they check everything is in order, the name will be changed.There are actually 3 companies that need to change their names.Green set up a new company called RFC 2012 Ltd, to stop some taig or other Rangers hater setting one up to derail the process. That will get a new random name, and will probably be killed off in due course.Next, the OldCo Rangers will change its name to RFC 2012 plcFinally, Sevco will change its name to Rangers. Quote Link to post Share on other sites More sharing options...
Jelavic18 615 Posted July 31, 2012 Share Posted July 31, 2012 Great news Won't stop some people thoughWe Are The Rangers Quote Link to post Share on other sites More sharing options...
jonbryce 63 Posted July 31, 2012 Share Posted July 31, 2012 Not quite yet. They have had the paperwork approved by the shareholders. Now it has to be sent to Companies House along with a payment of £10 for each name change, and once they check everything is in order, the name will be changed.There are actually 3 companies that need to change their names.Green set up a new company called RFC 2012 Ltd, to stop some taig or other Rangers hater setting one up to derail the process. That will get a new random name, and will probably be killed off in due course.Next, the OldCo Rangers will change its name to RFC 2012 plcFinally, Sevco will change its name to Rangers.It has all been done now.RFC 2012 Ltd is now ASDFGHJKL Ltd. More random than I thought it would be. Quote Link to post Share on other sites More sharing options...
weshallnotbemoved! 714 Posted July 31, 2012 Share Posted July 31, 2012 Is that not the name of the guy who is running the Olympics? Quote Link to post Share on other sites More sharing options...
glesgabear81 24 Posted July 31, 2012 Share Posted July 31, 2012 I hope everyone that can will buy shares in The Rangers Football Club Ltd. Quote Link to post Share on other sites More sharing options...
govansw1 326 Posted July 31, 2012 Share Posted July 31, 2012 I hope everyone that can will buy shares in The Rangers Football Club Ltd. What goes around... Quote Link to post Share on other sites More sharing options...
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