Published on Thursday 14th June, 2012 by Celtic Trust
Through all the long months of administration from which Rangers have, this morning, exited into liquidation, many organisations and individuals have tried to get clarity on what may happen if a new company is formed which seeks to take on the Rangers' mantle. The word Newco has become so ubiquitous that it no longer requires any explanation and, I am sure, will appear in the Oxford English Dictionary list of new words in the near future.
Now that the only avenue for those who seek to continue the 'long and proud tradition' of the now defunct Rangers FC is to form a Newco (indeed one is already formed) then the question of how this Newco will be treated by the footballing authorities is really the only question on the minds of most supporters of football in Scotland.
On the basis that the assets of the RFC (including the name, the team, the ground, the training ground and the SPL share] are bought by Charles Green or, say Walter Smith for example, then we can assume that they intend to field a team in either the SPL or the SFL.
The Celtic Trust, along with other Celtic supporters' organisations and the supporters of other SPL clubs have, both in writing and in person, tried to get some clear answers to questions which relate to how this would come about (see details of our meetings and correspondence with the SPL and the SFA respectively].
On the basis of this, our understanding is that the SPL Clubs will be asked, on 29 June or shortly thereafter, to agree to register the transfer of the SPL share to the new owners. This is the point where each Club in the SPL will finally have to decide whether they are in favour of sporting integrity or not. It really is as simple as that.
All of the other issues regarding the EBTs, the tax case, the dual contracts, sanctions for taking the SFA to court etc are dead - they died this morning along with Rangers FC - albeit that the directors of the former company can be investigated by the liquidators. In terms of football, the only issue now is how the Newco (which carries no debt, no sanctions, no threat of punishment) will be treated. It can't play in Europe for three years at least since it has to have three years worth of accounts. So it all boils down to this:
Which we can boil down still further to:
Many supporters' organisations of Celtic and other Clubs have already gone on record with their views on this matter, but at the risk of repeating ourselves or labouring the point, we will restate the Trust view here.
If any SPL Club votes for an automatic reentry into the SPL of a Newco Rangers then we will immediately enter into discussions with other Celtic supporters' organisations and the wider Celtic support to decide the precise form of the economic sanctions that we will impose on that Club or Clubs.
You may be right Rieperman but there are conflicting statements out there which make this very difficult to predict. The key issue for us though is the vote on the registration of the SPL share transfer.
I'm fairly certain that punishment for taking the FA to the court of session will apply to NewCo. It was confirmed the transfer ban would apply to anyone inheriting oldco's share, so why wouldn't any subsequent punishment?
I dont know if such action is legally possible, but should in the future the majority of SPL clubs vote on a 50/50 share of gate reciepts ,would it be possible to have an entry fee set at 1penny, then have a Company Benefit Scheme ( your laughing now ) set up where by contributions are requested , say an amount that make up the difference , with proceeds going to the company , which the 55 000 majority support would no doubt give . Leaving the 57 000 pennys ,assuming an away support of 2000, £570 pounds to be split 50/50. Tax would obviously be paid on the CBS . Then we have to seriously think ,as posted above ,how to impose any economic sanctions on other clubs .
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