So as the final act commences of this never ending footballing farce we find the end result was, as this blog always told you, a business and assets deal. The club survives but the company dies.
Scottish football's pundit cabal will no doubt be letting out a primal scream around now but really it will amount to no more than the usual bluster and misinformation. The questions now remaining are in no particular order:
1. Does this in any way impact Green's ability to fund the acquisition?
2. How many players will choose to transfer across with the business and assets (i.e. the football club) to the newco? (TUPE regulations exist to give employees the right to have their existing employment transferred in such a scenario. The difference here is that the employees are not you or I doing a 9 to 5 and they may well be better walking away certain they will find a new employer and a better deal)
3. Just how great a punishment will Scotland's authorities and clubs wish to impose on Rangers Football Club for its continued existence?
The final point will be very interesting. Many viewed the decision by D&P to go to court over the one year signing ban as a mistake given it may bring a more severe punishment. That though fails to see this in the context of the other investigations currently ongoing. The principle was asserted that punishment must be in line with the existing regulations something this blog has long championed. Catch all "or any other punishment as we see fit" provisions will rightly be challenged.
HMRC's decision certainly does not simplify matters. I have bored myself banging this drum but again assuming the transfer of the SPL share and, more importantly SFA membership (since 1873), I cannot see any real argument that the club is not Rangers.
The one thing their statement does clarify though is the desire to hold individuals to account. If wrong doing is proven then those who conceived, enacted and benefited from the wrong doing should rightly be held to account. The club must accept whatever punishment the existing rules dictate are coming our way. Equally though as a taxpayer and as a shareholder (yip sad but true) it strikes me as inconceivable those who have brought about the need for the newco will not suffer significant financial and criminal consequences.
And now the end is near? No not really. Not at all in fact. Speaking personally this will only be over when our former owners are seen entering court with a blanket over their head and when Zadok the Priest once more blares out the Ibrox PA. Painful as today will be for Rangers fans everywhere it represents a small step closer to both.