I'm surprised you have not saw this one. SCOTTISH PREMIER LEAGUE LTD PRIMA FACIA INSOLVENT! CELTIC FC FOUNDED THE SPL MONTHS BEFORE SCOTTISH LEAGUE ANNOUNCED SPLIT INVESTIGATION FINDS. On the 13th May 1997 Company Registered under number SC175364 came into being under the name DUNWILCO (597) LTD. On the 9th April 1998 (with an effective date of 1st April 1998- April Foolâs Day) DUNWILCO (597) LTD changed its name to THE SCOTTISH PREMIER LEAGUE LTD. It is said that on 8 September 1997, the football clubs in the Premier Division decided to split from the Scottish Football League and form the Scottish Premier League. That simply cannot be sustained because although company number SC175364 changed its name in 1998 on checking company records show it was âreserved to Eric J Riley/F McCann from inception.â It is a matter of public record that Celtic FC in 1994 was minutes from bankruptcy until a certain Canadian businessman stepped in on 3rd march 1994 guaranteeing an overdraft facility of £7.850, 000. The âdisclosedâ overdraft at the time was said to be £5,000,000 which Celtic had exceeded but the actual overdraft and âspecial loan accountâ was almost double that at £9, 875, 000. The idea of the SPL was that of Celtic and overall Mr McCann was a shrewd and innovative player that for certain assured Scottish Football. He floated Celtic and the rest is history. It is however, interesting to note the whole concept of the SPL came from Celtic who months before any decision was taken had already organised the structure. On the 30th October 2009 Sir David Murray made the following statement: âRangers' debt is only a fraction of their turnover so why is there all this fuss?â It was to be one of many that the media carried knowing to be false. But it is not only Celtic and Rangers that have played with âspinning the truthâ the Scottish Premier League Ltd are doing so and have done so for some time. The latest available Accounts for the SPL show an insolvent balance sheet, with liabilities exceeding assets by £196,000. That is of course the âofficialâ balance sheet because the true extent of the deficiency will only be revealed on the 28th February 2013 since the accounts filed showing insolvency were dated 15th August 2011. An awful lot can happen in a year as has been the case at Rangers. It seems questionable that Rangers were denied their rightful place in the SPL by a company that was effectively formed by two Celtic directors in 1997 and who themselves prima facia by far kin a worse insolvency position than RFC PLC. Of course matters will be rectified by Christmas of this year with a reorganizational plan that may well mitigate and make amends to hard-done-by Rangers who incidentally are very far from near liquidation. There is more than a realistic prospect the Administration of Rangers Football Club PLC will be reviewed by the courts sooner than most think.
Hearts are in the SPL, Where is Sevco Franchise? What you lot are doing is fraud. If I went into a graveyard, and used a dead persons name, I would expect to be charged with fraud, so why are Sevco franchise allowed to trade under a dead company's name?
