ogbg 20 Posted May 4, 2012 Share Posted May 4, 2012 This is a quote from UEFA in the Scotsman:The Uefa stance is clear and unequivocal on how it treats any newco created to shield a football team from any financial or regulatory ills experienced by the organisation from which it sprang.“If a club sets up a new company simply to avoid paying its debts or obligations then they would almost certainly fail the three-year rule [for obtaining the required Uefa licence],” a spokesperson for Uefa told The Scotsman.“This is to ensure clubs do not simply create a ‘newco’ and leave the previous entity in charge of dealing with debts.”Previously, Uefa have made the following statement pertaining to newcos: “Clubs are not allowed to change their legal form or structure in order to obtain a licence, simply by ‘cleaning up’ their balance sheet while offloading debts – thus harming creditors (including employees and social/tax authorities) as well as threatening the integrity of sporting competition. Any such alteration of a club’s legal form or structure is deemed to be an interruption to its membership of a UEFA member association and, consequently, three years must pass before a club can apply again for a UEFA licence. In other words, the three-year rule is designed basically to avoid circumvention of the club licensing system.” Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 4, 2012 Share Posted May 4, 2012 The split, the CVA and the subsequent merger will all be done in the next fortnight and UEFA will forget all about their rules on clubs jettisoning their debts.yeah they are good like that. they will also ignore the fact we bought players from the likes of rapid and aren't going to pay them. sfa might not be the only ones imposing a transfer embargo. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 4, 2012 Share Posted May 4, 2012 3 years whether the liquidation fanbhoys like it or not and that's got nothing to do with the fat controller or mini. Quote Link to post Share on other sites More sharing options...
The Godfather 72,431 Posted May 4, 2012 Share Posted May 4, 2012 3 years whether the liquidation fanbhoys like it or not and that's got nothing to do with the fat controller or mini.What would you rather?Have a club to support with a 3 years absence from Europe which we basically had this year with a stronger squad or no club at all?Tough choice eh... Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 4, 2012 Share Posted May 4, 2012 What would you rather?Have a club to support with a 3 years absence from Europe which we basically had this year with a stronger squad or no club at all?Tough choice eh...why are those the only 2 choices?a cva and no newco is possible. even if it means slashing of the budgets to the bare bones repaying our debts. we do not need to exit administration. their are many many other options open to us. Quote Link to post Share on other sites More sharing options...
The Godfather 72,431 Posted May 4, 2012 Share Posted May 4, 2012 why are those the only 2 choices?a cva and no newco is possible. even if it means slashing of the budgets to the bare bones repaying our debts. we do not need to exit administration. their are many many other options open to us.A CVA in the way TBK were going about it was not possible as we seen. There is hardly any time at all left for a CVA if you look at the timeline it would need, there are no other bidders that had a plan that ticked the boxes so no there are not many options open to us.We are a few weeks away from the end of the SPL and we have JUST been given a bidder with preferred status, to get a successful CVA with no newco would have to have happened weeks ago according to the financial experts they have on Sky and BBC ect. Quote Link to post Share on other sites More sharing options...
54andcounting 627 Posted May 4, 2012 Share Posted May 4, 2012 It seams to me that, the only bad and major news regarding BM takeover is the " 3 years absence from Europe" as far as the media are concerned, therefore they are spinning the negative part of the story, Funny that!!! Quote Link to post Share on other sites More sharing options...
Loyal Bear 72 363 Posted May 4, 2012 Share Posted May 4, 2012 Nah , we are fucked tbh Best thing we can hope for is to fill out ibrox a couple of times for big team friendliesWe are out of Europe for a year anyway, if the oldco is brought out of Administration with a CVA and audited accounts are produced before March 31st 2013, we should then be able to compete in UEFA competetions the following 2 seasons - 2013/14 and 2014/15. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 4, 2012 Share Posted May 4, 2012 A CVA in the way TBK were going about it was not possible as we seen. There is hardly any time at all left for a CVA if you look at the timeline it would need, there are no other bidders that had a plan that ticked the boxes so no there are not many options open to us.We are a few weeks away from the end of the SPL and we have JUST been given a bidder with ‘preferred’ status, to get a successful CVA with no newco would have to have happened weeks ago according to the finical experts they have on Sky and BBC ect.then make the time. make the required cuts.the only time pressure is created by d&p and quite deliberately created by them. they should do their jobs. we are still paying wages to an arsenal player ffs. Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted May 4, 2012 Share Posted May 4, 2012 then make the time. make the required cuts.Time is not there....as mini would not have the money to run the club as of end of May. Give it up busted flush and please get down to Slaters and talk your pal into releasing those hostages...he has lost his chance of that jacket and tie Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 4, 2012 Share Posted May 4, 2012 Time is not there....as mini would not have the money to run the club as of end of May. Give it up busted flush and please get down to Slaters and talk your pal into releasing those hostages...he has lost his chance of that jacket and tiethen make the business viable. thsmats what admins are supposed to do. Quote Link to post Share on other sites More sharing options...
ClintonGrey 365 Posted May 4, 2012 Share Posted May 4, 2012 A CVA is no longer possible due to the 6 week timescale it would take, if TBK had bid an acceptable amount about a month ago then a CVA would not have only been possible but preferred.The fact is they didn't and we are now in this situation. Quote Link to post Share on other sites More sharing options...
Loyal Bear 72 363 Posted May 4, 2012 Share Posted May 4, 2012 A CVA is no longer possible due to the 6 week timescale it would take, if TBK had bid an acceptable amount about a month ago then a CVA would not have only been possible but preferred.The fact is they didn't and we are now in this situation.The Oldco while it is in 'incubation' will be in administration with hardly any operating costs. These will lie with the Newco. This would allow up to a year to get the oldco a CVA on its exisiting debts which would allow us to compete in europe the 2 seasons after next.EDIT: This extra time also allows the HMRC, Ticketus debts to be clarified before attempting a CVA. Quote Link to post Share on other sites More sharing options...
The Godfather 72,431 Posted May 4, 2012 Share Posted May 4, 2012 then make the time. make the required cuts.the only time pressure is created by d&p and quite deliberately created by them. they should do their jobs. we are still paying wages to an arsenal player ffs.The time pressure was created by the bidders who did not put in place decent bids from the off, D&P gave TBK far too much time imo…obviously knowing the support in general wanted these men as PB but as each bid got chucked out it became a farce. Do you know the ins and out of the Arsenal loan deal? It is not uncommon for players to be loaned for a fee at the start of the season with the parent club paying the players wages….that may/probably is not the case but how much are we paying? I have no idea and I assume unless you are his agent then neither do you. Cuts have been taken (50% and 75% of players wages with 2 players leaving outright). CVA time has run out and the newco/cva is the only viable option left at this moment in time and that is the general feeling from guys who have far greater knowledge than you and myself. Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted May 4, 2012 Share Posted May 4, 2012 then make the business viable. thsmats what admins are supposed to do.They have started that by accepting Bill Millers unconditional (please not the un) and the fact that he has loged £11m . This is my last reply to you on the subject of tbb .Their Once, Twice Three times a loser Quote Link to post Share on other sites More sharing options...
Clerieblue 24 Posted May 4, 2012 Share Posted May 4, 2012 Get our own mini tournament to raise funds on Euro nightsThere are other high profile teams not getting into Europe these days....Liverpool, Hamburg possibly Inter Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 4, 2012 Share Posted May 4, 2012 what a load of pish. do people really believe the players wouldn't take anothe 2 weeks of cuts to get a cva. ffs. Quote Link to post Share on other sites More sharing options...
The Godfather 72,431 Posted May 4, 2012 Share Posted May 4, 2012 Get our own mini tournament to raise funds on Euro nightsThere are other high profile teams not getting into Europe these days....Liverpool, Hamburg possibly InterIn theory that sounds good but when you have to schedule these games it would become a nightmare, not all teams have the same playing calendar as ourselves. It would also cost money to get this organized and policed not to mention the support turnout would have to be very decent for us to make a profit. It’s an avenue that could be looked at just like the games with Liverpool and Hamburg this season. Quote Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted May 4, 2012 Share Posted May 4, 2012 then make the time. make the required cuts.the only time pressure is created by d&p and quite deliberately created by them. they should do their jobs. we are still paying wages to an arsenal player ffs.From what they said yesterday one of the main driving factors was to keep us in the SPL and competitive, that’s what you sell season tickets for, that's what you get TV money etc etc...Getting this done by next Friday was part of the driving factor. Cuts would have keep us going for how much longer...are you really advocating people losing their jobs so your preferred bidder can buy the club.....you sound like a bit of a cunt to be honest..... P.S. how do you know we are still paying for bartley ? Quote Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted May 4, 2012 Share Posted May 4, 2012 what a load of pish. do people really believe the players wouldn't take anothe 2 weeks of cuts to get a cva. ffs.then what happens when it takes longer than two weeks...or when murray can't raise the money again ?The process had to come to an end at some point...it's been on the go for 3 months nex week..... Quote Link to post Share on other sites More sharing options...
NessFTW 40 Posted May 4, 2012 Share Posted May 4, 2012 Get our own mini tournament to raise funds on Euro nightsThere are other high profile teams not getting into Europe these days....Liverpool, Hamburg possibly InterThere are many options for generating extra income, let's hope Miller is as business savvy as his reputation suggests. I for one am looking forward to seeing some of his 'out the box' thinking.TBK would have only let to more squabbling and infighting IMO. For this reason alone I'm glad they never got in. Quote Link to post Share on other sites More sharing options...
scottyc06 6,916 Posted May 4, 2012 Share Posted May 4, 2012 what a load of pish. do people really believe the players wouldn't take anothe 2 weeks of cuts to get a cva. ffs.You've finally spat the dummy out!!According to ally and sandy jardine, this is the best way forward, so why would the players think any different? Quote Link to post Share on other sites More sharing options...
scottyc06 6,916 Posted May 4, 2012 Share Posted May 4, 2012 The way I see it, if we have to take 3 years out of Europe to get our club financially stable and living within it's means, not reliant on that European windfall it will be better for the future of our club! Quote Link to post Share on other sites More sharing options...
NessFTW 40 Posted May 4, 2012 Share Posted May 4, 2012 what a load of pish. do people really believe the players wouldn't take anothe 2 weeks of cuts to get a cva. ffs.Now you're just clutching at straws. It's done, Miller will be the new owner (hopefully), give it a rest. Quote Link to post Share on other sites More sharing options...
allanh91 75 Posted May 4, 2012 Share Posted May 4, 2012 If the arguement of TBK and "full CVA" haters that Miller's bid is detrimental to us in a way that we can't play in Europe for three years, then it's astounding that they claim to have "the true best interests in the club at heart".European disqualification for 3 years is a very small price to pay for our clubs survival, and I would question the integrity of any fans support, if they thought anything otherwise. "Gloryhunters" may be a very harsh term, and may not fully apply to the situation, but that's the way it would seem to me.Support the Rangers wherever they are and whoever they play (or don't play) is my feelings. Quote Link to post Share on other sites More sharing options...
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