ian1964 10,826 Posted December 18, 2013 Share Posted December 18, 2013 Response The Rangers Football Club Ltd (Newco) explained that The Rangers Football Club Plc (Oldco), which previously owned and operated Rangers Football Club (RFC), went into administration on 14 February 2012 and that, in order to preserve RFC after a Creditors Voluntary Arrangement failed, its business and assets were purchased by another corporate entity, which was now known as the Rangers Football Club Ltd and that, therefore, the same Club was now owned and operated by themselves. They provided an extract from a Decision concerning RFC, by an Independent Commission appointed by the Scottish Premier League, in which it was stated that "in common speech a Club is treated as a recognisable entity which is capable of being owned and operated and which continues in existence despite its transfer to another owner and operator". They said the Commission had clearly stated that the same Club continued, regardless of the legal entity that owned and operated it and, therefore, that RFC had continued in existence since 1872. They also provided a letter from the European Club Association (ECA), concerning the RFC's continuing membership after the liquidation, in which it stated that, although run by a different legal entity, it considered RFC was still the same football club, having the same registration number with the Football Association, the same fans, the same stadium, the same club coefficient ranking and the same trophies, and it therefore recognised RFC as a founding member of the ECA, despite the change of ownership. Newco advised us that RFC was a full member of the Scottish Football Association (SFA) and that when Oldco, the legal entity who previously held the membership, went into administration and agreement was put in place to transfer exactly the same membership from Oldco to Newco, which had resulted in membership of the SFA being maintained. They further pointed out that the websites of the Scottish Premier League, the SFA and UEFA all confirmed that RFC had been in existence for 140 years by detailing all honours that the Club had won since its formation in 1872. The RACC said they felt that, given RFC's history, the claim "Scotland's most successful club" was valid and would not mislead. http://www.asa.org.uk/Rulings/Adjudications/2013/12/The-Rangers-Football-Club-Ltd/SHP_ADJ_224406.aspx 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,826 Posted December 18, 2013 Author Share Posted December 18, 2013 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted December 18, 2013 Share Posted December 18, 2013 shot themselves in the foot there. 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted December 18, 2013 Share Posted December 18, 2013 Another bit of good news, would it be to much to hope for more good news tomorrow? 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,826 Posted December 18, 2013 Author Share Posted December 18, 2013 Another bit of good news, would it be to much to hope for more good news tomorrow? Steady on there old chap, good news for Rangers fans is only dispatched in very small quantities! 0 Quote Link to post Share on other sites More sharing options...
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