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    Comment on Stevie G – The Real Deal? by easyJambo.

    A petition to the CoS from the rolls, that might be of interest to Aberdeen fans.

    P719/18 Pet: No Kingsford Stadium Ltd for Judicial Review – Gillespie Macandrew LLP

    It's an "unstarred" motion, meaning that the presence of counsel is not required. A similar petition was presented a month ago, so it still looks procedural at this stage.

     

    I assume that this action is the latest objection to plans for Aberdeen's proposed new stadium.

     

     

    easyJambo Also Commented

    Stevie G – The Real Deal?
    Note that Sky just signed a five year deal with the EFL, worth £595m (£99m a season).

    =============================

    I can't count £595m/5 = £119m


    Stevie G – The Real Deal?
    I would be careful of the spin that will undoubtedly be put on the latest exclusive 5-year TV deal with Sky.

    It isn't clear what the headline figure is as yet. I've seen estimates varying from £20m to £30m a season. The current contract with BT & Sky involves 60 live games, while the new deal only covers 48 + 6 play-off games. 38 of them will most likely be allocated to covering all Celtic and Rangers away games, with 4 Edinburgh derbies and a few random others including the probable title winning game(s). 

    The distribution for last season (Premiership teams) was based on a pot of c. £23.75m (domestic and overseas income).

    1st 13.4% £3.176m
    2nd 9.6% £2.28m
    3rd 8.25% £1.96m
    4th 7.25% £1.72m
    5th 6.75% £1.6m
    6th 6.25% £1.48m
    7th 5.75% £1.36m
    8th 5.5% £1.3m
    9th 5.25% £1.24m
    10th 5% £1.19m
    11th 4.75% £1.13m
    12th 4.5% £1.07m

    Note that Sky just signed a five year deal with the EFL, worth £595m (£99m a season).


    Stevie G – The Real Deal?
    An informative read on the employment of referees in Scotland and England. The linked cases are also worth a read.

    Laura Sports Law‏ @laurasportslaw

    NEW BLOG POST The Relationship between Referees and Governing Bodies

    * Appointment of referees

    * Management of referees

    * Continual monitoring of referees

    *Protecting integrity

    *Disciplinary & Laws of the Game

    http://www.sportslawscotland.co.uk/2018/11/referees-appointment-management-and.html …


    Recent Comments by easyJambo

    Dear Mr Bankier
    Dave King is just a couple of days away from the next deadline imposed by his undertaking to the Court of Session, to appoint an acceptable "cash confirmer" with a UK presence and a "legal advisor", by close of business on Friday.

    Here's what the undertaking said:

    Take all such steps as are required to instruct a third party cash confirmer in the United Kingdom (the “Cash Confirmer”) that is considered appropriate by the Panel and confirmed as such by the Panel in writing, as soon as practicable and in any event by no later than 17:30GMT on 14 December 2018, being the date that is two weeks from the date of this undertaking, to do all such things as are required in order to provide a public cash confirmation statement for the purpose of assisting Laird Investments (Pty) Limited (“Laird”) to make an offer for the entire issued share capital of Rangers International Football Club Plc (“Rangers”) on a fully diluted basis (or on such other basis as is agreed in writing by the Panel and the Cash Confirmer) (“the Offer”) including, if required, transferring all such funds as are required into the United Kingdom.

    …… and

    To appoint a legal advisor by 17:30GMT on 14 December 2018 to undertake all such matters as are required to ensure that the documentation complies with the Code and to liaise with the Panel in relation thereto.

    I fully expect that King will comply with these deadlines, but we may have to wait a bit longer to see how much he is being asked to put up in cash. I'd anticipate that the "not willing to sell" letters of undertaking he has obtained from shareholders who participated in the September share placing will significantly reduce the funds required, down from the headline £19m figure to maybe half of that. 


    Dear Mr Bankier
    I see that the Herald has caught up with the story of BDO seeking an out of court settlement with Henderson & Jones (on behalf of Wavetower/TRFCG).

    https://www.heraldscotland.com/news/17288996.liquidators-in-talks-to-settle-18m-rangers-oldco-claim-by-firm-founded-by-former-club-owner-craig-whyte/

    IIRC Whyte had a deal where he would get on third of any sums received.


    Dear Mr Bankier
    At the recent TOP v King hearing, I joked with Chris McLauglin, asking if he was allowed to ask Dave King a few questions outside the court room. He responded by saying "I'm not sure if he is allowed to speak to me".


    Dear Mr Bankier
    Homunculus 9th December 2018 at 11:41

    =============================

    I have a fairly simplistic view of HMRC's acquiescence on the "penalty" amount.  They are satisfied that they have the Supreme Court judgement in their back pocket. That will allow them to recoup much more of a return from companies and individuals, rather than concern themselves about a few pence in the pound dividend from a liquidated company.


    Dear Mr Bankier
    The dividends paid to date amount to £9,265.47 for preferential creditors and £4,620,599.40  to unsecured creditors.

    There is only £7,757,414.44 left in the pot.

    Needless to say, BDO (£4,414,671.13 plus outlays of £58,679.66) and their legal fees (circa £10.5m) have consumed the majority of the cash. (remember £24m was received from Collyer Bristow's insurers).

    The Oldco still has a claim of £28m against Duff & Phelps outstanding, although there is a claim of £18m against the Oldco, on behalf of Wavetower, still on the go too.