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Thread: Rangers today, whose next?

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    Super Moderator eatmywords's Avatar
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    Quite astounding news. But if you are going to constantly spend more than you earn, then you are in no different position than any of us. Is this really the price of success?
    Faced with certain disaster, defiance is the only answer.

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    Super Moderator eatmywords's Avatar
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    Faced with certain disaster, defiance is the only answer.

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    Why the supprise, most clubs are only solvent in a technical sense, most are in reality in massive debt, including the so called giants of the game, if the worlds finances are to remain in the present state they are in, then we should have more clubs hitting the deck.
    Last edited by Mack; 02-17-2012 at 07:59 PM.

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    Super Moderator eatmywords's Avatar
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    I don't understand how these clubs constantly emerge, relatively, unscathed from administration. The only real asset these clubs have are the players and the ground; and I'm fairly certain you cannot sell an employee on to satisfy a debt. In either case players are sold below their contract price and the ground is not sold to pay the bad debts; usually, and magically, a new owner is found, who buys the debts, usually for the nominal rate of 1, and twelve months-on they are back in the same position of administration. I have recently sent an email to http://www.direct.gov.uk asking whether an employer can sell on my employment contract for time pending to another employer. What I'm trying to get to is whether there are different rules in operation for these clubs in relation to everybody else. If they say no, then why are these clubs getting away with it? Much like companies such as TJ Hughes and Littlewoods, if the debts cannot be managed and creditors satisfied, then unfortunately these clubs need to be wound-up.
    Faced with certain disaster, defiance is the only answer.

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    Decaying old hippie The Relic's Avatar
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    Quote Originally Posted by eatmywords View Post
    I don't understand how these clubs constantly emerge, relatively, unscathed from administration. The only real asset these clubs have are the players and the ground; and I'm fairly certain you cannot sell an employee on to satisfy a debt. In either case players are sold below their contract price and the ground is not sold to pay the bad debts; usually, and magically, a new owner is found, who buys the debts, usually for the nominal rate of 1, and twelve months-on they are back in the same position of administration. I have recently sent an email to http://www.direct.gov.uk asking whether an employer can sell on my employment contract for time pending to another employer. What I'm trying to get to is whether there are different rules in operation for these clubs in relation to everybody else. If they say no, then why are these clubs getting away with it? Much like companies such as TJ Hughes and Littlewoods, if the debts cannot be managed and creditors satisfied, then unfortunately these clubs need to be wound-up.
    On the face of it it's notional value ascribed from multiple factors such as potential advertising, marketing and TV sales, but really it's because today's capitalists can base things entirely on notional value and buy and sell within that context. Flash entrepreneurs and Russian gangsters buy into them because they're seen as self-perpetuating commodities rather than going concerns. No, it doesn't make sense, but neither do hedge funds, countries lacking in manufacturing bases or so much else about capitalism.
    The Relic

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    Super Moderator eatmywords's Avatar
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    Here's the response I got from whoever they were:
    In general terms I can say is that if your employer is a limited company and it enters into a formal insolvency procedure then the appointed liquidator or administrator may look to sell assets of the company. It could be likely that during the course of the insolvency proceedings another company may buy some or all of your employers company. It may be likely that included in this transaction would be the transfer of the existing employees. The employees are transferred over on their existing employment contract. All the accrued benefits transfer across with them. This is known as a TUPE transfer. Transfer of Undertakings (Protection of Employment) Regulations. These are regulations designed to protect employees in the event that the business, or part of it, that they worked in is taken over by a new owner.

    The Regulations were first introduced in 1981 and in cases where there was a transfer of the business, employees who transferred had continuity of service and the terms of their contract of employment were protected in that the new owner could not worsen the terms as a result of the transfer. The regulations were revised on 6 April 2006 in respect of transfers from that date and part of the amendments were specifically concerned with the transfer of insolvent businesses. Whether employees now have continuity will depend on what form of insolvency the company was in.

    If a company goes into liquidation it is unlikely that the continuity rules will apply, however, if the company goes into administration, or a company voluntary arrangement, the continuity rules may apply. If the rules apply and the employees are owed debts, such as unpaid wages, by the original employer they can be claimed, subject to legal limits, from the Redundancy Payments Office (RPO). The Insolvency Practitioner dealing with the affairs of the company will be able to advise you how to do this. If you are owed more than the RPO can pay you, the new owner should make up the difference.


    I think that means you can transfer an employment contract, but you can't transfer it to a different employer.
    Faced with certain disaster, defiance is the only answer.

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    Junior Member 'Ullgoonerlee's Avatar
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    Keep an eye on Manchester United....trying to keep up with the man suir benevolent fund across the street will lead to higher wages, ovespending and a push too far...Fergie will retire, money will be showered like monetary love piss everywhere and the F.A's bastion will sink like Tulisa on to a boyfriends schlong

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    Senior Member Rook's Avatar
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    Rangers are to be liquidated then. Hopefully, the newco will be denied a pass into the SPL. I genuinely think that if Scotland want football worth watching, they should forget about trying to save Rangers, and just liquidate Celtic. Make the SPL a competition again . . . for a few years at least

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    I wouldn't be surprised if the snp had influence over the liquidation of rangers. Rather than bringing out laws trying to battle sectarianism in Scotland I can imagine them taking advantage of rangers vulnerable state to get rid of them all together. Although I have to admit, iv not been following the story that closely.
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