Generic clubs in financial crisis Thread

[blindedbythelights]

Thats it then. RIP ROFLangers. They can start a Newco, but its a new football club entirely. All history gone. Bye then.

LIKE

[blindedbythelights]

Thats it then. RIP ROFLangers. They can start a Newco, but its a new football club entirely. All history gone. Bye then.

Meh. The clubs won't vote them out the SPL when Rangers provide them with half their income every season so they can start afresh as a new-co having thrown off their debts.

Hurrah! Another triumph for footbaLOLLOL.

lol @ this gr8 myth that a few thousand huns through the door of each club every season somehow vindic8s all sins

I predict the other clubs are far more concerned with potential sanctions than missing out on selling a few extra half time pints to in-breds for a coupla seasons

[cmonurz]

The 11 other SPL clubs have a duty now to do the right thing. Scottish football will be in no state if a club can overspend to the extent that it is liquidated, yet remain the top tier of the league. A new company should start where any other new club would. Right at the bottom.

[watfordroyal]

The 11 other SPL clubs have a duty now to do the right thing. Scottish football will be in no state if a club can overspend to the extent that it is liquidated, yet remain the top tier of the league. A new company should start where any other new club would. Right at the bottom.

Many fans have mooted a boycott if Newco fc are voted into SPL.
They simply have to do the right thing & reinstate Dunfermline.

With huns liquidated, players are released.....can we have our Aluko back now!

[Mr Angry]

Apparantly Birmingham's Nocolas Zigic has a clause in his contract that guarantee's him a pay rise this Summer - from £50K a week, to £60K per week....



Brum HAVE to be candidates for a financial meltdown sooner rather than later.

[Cobi]

Thats it then. RIP ROFLangers. They can start a Newco, but its a new football club entirely. All history gone. Bye then.

All contracts ripped up and players free to leave.

[Super_horns]

First of a few of the bigger clubs maybe?

[Ian Royal]

First of a few of the bigger clubs maybe?

It's certainly all coming thicker, faster and higher up the league. With Birmingham looking like they could be in trouble soon too. Blackburn and Bolton. West Ham are only a couple of seasons in the Championship without promotion away from trouble. Pompey rumbles on...

[Far from the royal crowds]

Thats it then. RIP ROFLangers. They can start a Newco, but its a new football club entirely. All history gone. Bye then.

All contracts ripped up and players free to leave.

That's not how the new owner sees it...it looks like he's under the impression that he just gets to set up a new company with all the players and none of the debt...

"If the players choose not to transfer they will then be in breach of contract," Green told the club website.
"But we want all of the staff and players to get behind what we are trying to do."
Protection of employment regulations suggest that employees must be offered but are under no obligation to accept the terms of transfer to a new company and the players' union has echoed this sentiment.
The issue is further complicated with player contracts under Fifa, Uefa and Scottish FA regulations.
But Green believes Transfer of Undertakings (Protection of Employment) compels the players to move across, saying: "TUPE is very clear and all employees will be transferred under the rules and regulations.
"We've explained to all the staff that contracts will be switched to the new company."
Paul Clark of administrators Duff & Phelps is also sanguine about the prospect of players switching to the newco.
"Once the sale is concluded, all of the players and staff will move over to the new company," he told BBC Scotland. "The newco will honour existing contracts. It's simply the name of their employer that changes."

http://www.bbc.co.uk/sport/0/football/18417120

[Wax Jacket]

"TUPE is very clear and all employees will be transferred under the rules and regulations.

this is from the man who says he felt 'duped' by HRMC. sounds like he needs to read his mail a bit closer

[watfordroyal]

Duff & Phelps fees up to £5.5m as secured creditors!

This is how much Greens bid is putting in, so where's the money coming from for their proposed annual £2m profit,
especially as he states, some of his investors are not willing to support a newco!

Think King was right in saying this smells more & more like a dodgy scam, greater than Whytes.
Has Green got secret deals with the tims to really f*ck up Rangers for good!

[Tony Le Mesmer]

"..the SFA has said any sanctions levied on the old club would have to be taken into consideration when assessing the newco's application for SFA membership in order to deter other clubs from following the same route"

So if all the players are free to leave, how will they put a team up with a transfer embargo still in place?

[Barry the bird boggler]

The embargo was overturned in the civil court

[blindedbythelights]

I was under the impression that a lot of players a few months ago agreed to substantial wage cuts on the proviso they could jump ship in the summer

[watfordroyal]

The embargo was overturned in the civil court

The SFA embargo was, but they are currently under an SPL transfer embargo for being in administration.
This will likely be a condition still imposed on any newco if the SPL cave in & vote them in.

[Mr Angry]

Surely the players would all have to be offered exactly the same terms that they were on at old Rangers; and if so, how is the Newco proposing to fund that?

Also, I would have thought that the players merely deferred rather than wrote off their wages since administration - presumably they would expect that money to be honoured as well?

It would be interesting to see what would happen if 1 player chose to walk out.....

[Dai Brainbocs]

I think it might be an exciting time to be a Rangers supporter as the SPL will probably let them straight back in and they can start debt-free with the minor inconvenience of no place in Europe for three years. Why doesn't every club in the league now pull the same trick and have all their debts disappear in a puff of smoke?

[weybridgewanderer]

The embargo was overturned in the civil court

The SFA embargo was, but they are currently under an SPL transfer embargo for being in administration.
This will likely be a condition still imposed on any newco if the SPL cave in & vote them in.

but the newco would not be in administration

[Barry the bird boggler]

I think it might be an exciting time to be a Rangers supporter as the SPL will probably let them straight back in and they can start debt-free with the minor inconvenience of no place in Europe for three years. Why doesn't every club in the league now pull the same trick and have all their debts disappear in a puff of smoke?

If the SPL don't let them straight back in then it will be a case of congratulations to them for creating the worlds first one horse chase football league and therefore the most pointless league season(s) ever where the thrill will be which side goes down or - assuming they end up playing with 11 teams - which sides make the top half of that damn stupid "split" after 3 quarters of the season. WOW now just how thrilling would that be .....

[watfordroyal]

I think it might be an exciting time to be a Rangers supporter as the SPL will probably let them straight back in and they can start debt-free with the minor inconvenience of no place in Europe for three years. Why doesn't every club in the league now pull the same trick and have all their debts disappear in a puff of smoke?

If the SPL don't let them straight back in then it will be a case of congratulations to them for creating the worlds first one horse chase football league and therefore the most pointless league season(s) ever where the thrill will be which side goes down or - assuming they end up playing with 11 teams - which sides make the top half of that damn stupid "split" after 3 quarters of the season. WOW now just how thrilling would that be .....

There would still be 12 teams as Dunfermline would get a reprieve.

Even if sellic ran away with it, making it boring for them, the race for Europe will be interesting for the rest.