I salute my resolute readers who took the time to read yesterday’s 7,000 word opus on the fix at the heart of Scottish football. Prior to a detailed dissection of the stitch-up I should emphasise the fact that this is a document that the corrupt cabal who run our game don’t want you to see. Section 8 is quite detailed apropos keeping this document under wraps:
“ANNOUNCEMENTS AND CONFIDENTIALITY
8.1 Neither RFC nor Sevco may make any disclosure to a third party, press release or public announcement whatsoever about, concerning or relating to this Agreement and/or thetransactions contemplated by it or disclose any of the terms of this Agreement except in terms which do not depart from the terms of a public statement agreed in writing by the parties or with the express prior written consent of all parties to this Agreement.
8.2 Clause 8.1 shall not apply to any disclosure made by a party to its professional advisers,or to any announcement or disclosure required by the laws of any relevant jurisdiction or by any competent regulatory or governmental body or securities exchange in any relevant jurisdiction, provided that the party required to make such an announcement or disclosure shall first take all such steps as may be reasonable and practicable in the circumstancesto consult with the other parties, and shall take into account their reasonable comments.
8.3 Each party shall ensure that any professional adviser to which it discloses information under clause 8.2 is made aware of the obligations of confidentiality contained in thisclause and complies with this clause as if binding on it directly.”
Stewart Regan, who knew that what they were doing was corrupt and was apprehensive that he would be called out by Charles Green if discussions broke down, excused himself from the evening meeting in an Edinburgh hotel on the pretext of a social engagement. He emerged from the elevator as Charles Green arrived. That’s how slimy this bastard is. One should never forget it.
It did not take long for the Continuation Construct of this fix to rear its ugly head. The ‘Recitals‘ section includes this nugget of sophistry:
D) RFC is a public company limited by shares which (i) is a full member (as defined in the SFA Legislation (as defined below)) of the SFA; (ii) owns one of the twelve issued Shares in the SPL; and (iii) owned and operated an association football club known as “RangersFC”
I suspect the unseen hand of a man whom elicits ‘lunch envy‘ in Yuanker Traynor, the endomorph’s endomorph, Rod McKenzie who recently accepted a part-time gig at Neil Doncaster’s Hampden circus. A cynic might advance that he has been retained to provide counsel on the metaphysical. His starter for 10 is a real doozy. RFC PLC is Rangers; an incorporated company since it was limited by statute in 1899. It has retained the same registration number for 113 years and is now in the final throes of liquidation in its final guise as Rangers 2012 Ltd. There was no separation of club and company. Is it just me or does anyone else smell a rat shinning down Regan’s, Doncaster’s, Longmuir’s and Bannatyne’s trouser legs. The stench is so pungent that one suspects that they took a team bath in a septic tank.
While on the subject of Yuanker Traynor would his postman be so kind as to inquire how many Chinese clubs does it take to change a light bulb? The answer is of course none as was the number of bidders for Morelos from The People’s Republic. Were the mythical Chinese scouts not fulsome in their praise of Morelos as he vied with the pink flamingoes for attention in Florida?
Note to Yuanker: I’m not referring to The We Are The People’s Republic. There is no need for a Tank Man to attempt to dissuade the denizens of Ibrox from wading in Fenian blood. A thankless task even if one has had the prescience to bring along a plastic bag to stem the flow.
I digress. One only has to wait a few syllables for the next blatant lie:
(F) Following the completion of a controlled auction process by the Joint Administrators (defined below), Sevco has purchased substantially all the business and assets of RFC by entering into the SPA.
What Charles Green had actually purchased was Ibrox excluding the car park, Murray Park and enough ‘tuped’ players for a game of five a side. Which was all the latter could have engaged in without a licence from the SFA. As for the business side of this equation this had been dumped with the £168.6m of debt. There was no business. Just a basket of assets with aspirations to be a business.
The farrago of lies continues in the next recital:
(G) Sevco will become, following on the transfer to it of the full membership of RFC in the SFA, on Completion (defined below) the operator of Rangers FC within the Third Division of the Scottish Football League.
As Rolf Harris would say, while simultaneously putting his hands down an unwitting child’s pants, can you guess what it is yet? In a switcheroo that would bring a tear of nostalgia welling up in Charles Green’s eyes. Sevco which according to McKenzie’s own words engaged in a substantial purchase is not actually the club but the operator of the ethereal engine-room subsidiary which quite incredibly survived a head on collision at 168.6 mph.
Did Ménage a Trois Bannatyne, who is fond of a threesome, envisage a trinity where RIFC would be God the father, Sevco God the son and Rangers the Holy Ghost. How Catholic of him. Suffice to say I’m an atheist who is loath to make a leap of faith on the ethereal entity, the trading style, that is Rangers.
In a hat tip to Duff & Phelps – whom hairy-arsed with an abacus DCI Jim Roberson and his accommodating assistant Jackie O’Neil chose to arrest when the real criminals are at Hampden – the corrupt cabal provided the following:
13.4 Nothing in this agreement shall prevent the Joint Administrators using the name “RangersFootball Club” or any other trade name of RFC for the purposes of the performance of their statutory duties.
How quintessentially British of them. This came in useful when presenting the picked-off carcass to Lord Hodge who passed the deceased club to morticians BDO who duly stripped it of everything, including Ally McCoist’s dignity, prior to its final resting place in a Canary Wharf filing cabinet.
Much store is put by the findings of the First Tier Tribunal which provided the perfect excuse to the corrupt cabal not to deal with the tax evasion of the former member club. One could hazard a guess that if the findings of the Supreme Court were factored into these proceedings McKenzie and his morally barren knights would excuse the ethereal entity and throw the book at Craig Whyte. If they were feeling particularly vengeful they could throw Halloween Houston’s novel at him. A somewhat limited edition I grant you but all the rage at Dignitas to quash any last minute doubts.
The thorny issue of UEFA participation, which was formerly settled by a game of Rock Paper Scissors at Hotel Du Vin, was addressed with:
2.4.4 acknowledge that under UEFA Regulations, Sevco/Rangers FC is currently ineligible to participate in UEFA Competitions. Subject to their qualification on sporting merit and any dispensation granted by UEFA following representations by Sevco/Rangers FC, the SFA shall nominate Sevco/ Rangers FC for participation in applicable UEFA competitions when they become eligible to do so.
At this juncture we discover that the Continuation Construct might well fly in the corrupt cesspool of Scottish Football but that they could not pass it by the beaks in Syon even under the cover of a strong Swiss cheese.
One wonders what would have occurred if Sevco had won an inaugural Scottish Cup. Would Campbell Ogilvie have demurred on a £95,000 beano with the follically challenged Chick Young to present toblerones to the UEFA brass? Surely to paraphrase Yuanker it would be the least he could do,
If Charles green took the view that he had been sold a pig in a poke in regard to the ethereal entity’s European and domestic football debts, he had no comeback
12.1 Sevco and RFC each hereby release each of the SFA, the SPL and the SFL and any of their respective directors, officers, employees and member clubs (past, present or future)
(all and each of them “the Released Parties”) from all claims, whether known or unknown
to each of Sevco and RFC, which each of Sevco and/or RFC has or may have against the Released Parties arising out of or connected, whether directly or indirectly, with (i) theconduct of the SFA, the SPL and/or the SFL with regards to or in respect of RFC, Sevcoand/or Rangers FC in connection with this Agreement and the negotiations leading up toit; (ii) the Registration Embargo; and (iii) the granting of and the terms of the obligations,undertakings and the warranties by RFC and/or Sevco in this Agreement (all and each of
them “the Claims”).
12.2 Except with respect to any alleged breach of the obligations on the SFA, the SPL and/or the SFL comprised in this Agreement, each of Sevco and RFC hereby undertakes that itshall not, and will procure that its respective directors, associated companies,shareholders, officers and in the case of Sevco those of its directors who are shareholders (in that capacity) and Mr Richard Hughes (as a shareholder) shall not commence, or threaten to commence, any proceedings in any jurisdiction before any court, arbitration or other similar judicial body against the Released Parties (including by way of third party claims in any other action) arising out of or connected, whether directlyor indirectly, with any of the Claims or any other matter addressed in this Agreement.
12.3 Each of Sevco, RFC and/or Rangers FC hereby warrant to the Released Parties that theyare not aware of any basis on which they could make a claim of any nature against all or any of the Released Parties (except with respect to any alleged breach of the obligationson the SFA, the SPL and/or the SFL comprised in this Agreement).
What a bunch of chiselling weasels. Not only is this agreement to be kept secret but if it all goes pear-shaped they have a get out of jail free card. They would not want their stitch-up to be discussed in an open court.
On a final note did Sevco receive the titles of the former club or were they always the preserve of the ethereal entity? I wonder what formation the Trading Style favoured. A 4-4-2 with Regan and Doncaster up front? How enterprising.
Take a good look at Regan, Doncaster, and Bannatyne as we are going to be seeing a lot more of them in my blogs.