Charles Green has bought the assets of the to be liquidated Rangers FC - so the 140 year old club ceases to exist. THis club can be called "The Real RFC".
Charles Green has formed a new companycalled "The Rangers Football Club" and they will now apply for a license to play football in Scotland. They'll apply to the SPL first and it will require an 8-4 in favour vote by chairmen of SPL clubs for that to happen.
Failing that, the new Rangers... which can be called "Provisional RFC" if you want... can apply to the SFA to enter the Scottish League, probably in Division 3. There is some debate as to whether all the players transfer over to "Provisional RFC" or whether they can simply walk away as free agents if they choose - It'll pretty much be down to what division they play in.
Walter Smith's bid... to form what we could affectionally call "Continuity RFC" can now only happen if "Proviosional RFC" sell them the assets they now own.
Regardless the new Rangers, cannot play in Europe for at least 3 seasons, as they have to produce 3 years worth of accounts first (which probably means 4 seasons out in reality).
There is also the matter of the punishment for brinding the game in to disrepute that Rangers. This is where received a one year transfer ban for and went to court to get it over-turned on the basis of the Appeals Panel weren't able to oppose that punishment. The Court upheld that appeal, but also upheld the fact that Ranger were guilty and sent it back to the SFA Appeals Panel to hand out a punishment available to them - which leaves the option of a fine, suspension from Scottish Football or complete explusion from Scottish Football. A non-league club, Spartans, was fined (a very significant amount based on their turnover) and expelled from the Scottish Cup for the henious crime of not filling in a duplicate date correctly on a player registration form - so given that Ranger were found guilty of bringing the game in to disrepute for withholding Tax & PAYE you would expect that the least they can expect is a fine and suspension from the Scottish Cup.
The new Rangers is insisting that all the history, etc comes with it - so the SFA may well demand that if they want entry to the the game they must take the punishment as well.
Whish brings us to the EBT issue, which if Rangers are found quilty of, essentially means they were illegally registering players on dual contracts for probably over a decade (so basically from the start of their 9 in a row title winner onwards) - which genrealy means they should be stripped of all their titles, etc.
The thing that grates most people is that Rangers or their fans have seen fit not to apologise or seem contrite in any way about any of this - whether it being cheating Scottish football by fielding teams of illegally registered players they couldn;t afford to buy or pay without defrauding the tax man of what could now amount to over 100 million quid.
Instead the general attitude from Ranger is mroe along the lines - of we're too big to fail and Scottish football needs them and they shouldn't even be puniched.
What if it was revealed that Manchester United had operating a similar system, defrauding the tax payer and maintaing a squad by illegal payments, which was how they managed to keep their dominance in the domestic game despite the mountain of acquisition debt they had accumulated.
Imagine if when taken to task about it, their reply was "We're the biggest club in the world so you need us in your League or you won't get that TV deal." Astounding levels of arrogance being displayed by Rangers.
Here's another thing to remember - Jelavic... the player Everton signed fomr them in January.... Rangers haven't paid and are now never going to pay the club they signed Jelavic from.. and that's not the only club they've taken players off and not payed them for. (Hearts being another one).
aaaahhhhh.... good to get that off my chest....