Edit: Yeah. So this was posted minutes before I saw the stories about Ally Mccoist hit the net. I’ll update tomorrow when the story is clearer. Let’s just say that pissed is the nicest description of how I feel right now.
Okay, bear with me. This one might be a little jagged. Also, just a reminder, I’m NOT a sports blogger. It just happens that I’ve been writing abut my teams lately.
Oy, Rangers. You’re breaking my silly little heart.
It was nice to have a couple weeks there with no crazy-insane-bad Rangers news. But, apparently, it was all just building up for a flood. The dam has broken.
When last I wrote about Rangers, we were waiting for a buyer to come forward. Bill Miller, the tow truck manufacturer from Tennessee had taken his toys and gone home, leaving what is arguably the world’s most successful football club without an owner and in severe financial and spiritual distress.
Another bidder came forward and laid his cards on the table. Bid accepted.
I didn’t know much about him. I’m not sure any of us really did, but since stepping up to the podium, Charles Green has been open and (as far as I can see) honest and, when things start to get weird, he does not hesitate to issue tersely worded statements in which he outlines his discontent. He appears on the surface to be, at the very least, a man who does not easily back down from a challenge.
I’ll be the first to admit that he wasn’t my preferred bidder, but his determination to make sure that Rangers survives has won me over. He has stated his commitment to keeping the boys in blue playing at Ibrox. That’s enough for me.
The biggest challenges are yet to come. Green announced earlier this week that HMRC has rejected the planned CVA. For those of you not following along, this basically means that instead of a managed bankruptcy wherein the new buyer of the club (Green) settles debts with creditors for essentially pennies on the dollar (or, in this case, pence on the pound) and the club continues forward as best it can, we move toward a total liquidation. At least, that’s my understanding. I’m not a Scottish/British tax/bankruptcy expert by any stretch of the imagination.
The proposed CVA has been rejected by the governmental body that reviews such things. Rather, it will be rejected sometime in the next twelve hours or so.
It’s 7 a.m. in Glasgow. My Scottish Twitter friends are waking and starting their day and, as most of them are part of the Rangers family, they’ll be on pins and needles until the official announcement.
And then they’ll continue to fret until Green reiterates his support for the club.
So, there it is. Rangers gets a new start. With the CVA denied, the club goes into liquidation and, barring any further nonsense, the good Mr. Green will buy the club’s assets and form a newco for even less than the CVA would have cost him in the first place. Who gets screwed here? The creditors. Again. I’m entirely unsure why this makes any sense at all but there you go.
The arguments will continue for years. Is a new Rangers still Rangers? Can we still lay claim to the accumulated titles and hardware of the last 140 years?
Yes. We can and we will.
All the Celtic bloggers are sounding the death knell for Rangers. Wishful thinking, kids. Wishful thinking. Newco, not newclub.
Rangers will be liquidated and reformed. They will still play at Ibrox. They will still carry the weight of 140 years of history and trophies. They will still be ours.
And it will be the SPL that suffers. And I will suffer because there’s little chance I’ll see the boys play if they land in the third division and are forced to claw their way back to the top tier.
A new beginning for Rangers.