Dictionary
newco
noun
A new company, especially one spun-off from or replacing an existing company as a legal fiction to maintain ownership over an entity while separating it from the old company financially.
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Dorin Goian aims to leave Ibrox after the Rangers newco was voted into the Irn-Bru Third Division.
The first match for newco Rangers is in the Ramsdens Challenge Cup – a tournament for lower league teams – and carries an obvious significance.
Green and his investors subsequently completed the purchase of the business and assets of Rangers as a newco for £5.5million and were urged to consider a quick sale by the veteran boss.
Doncaster had predicted the league would lose £15.7million in commercial deals, mostly from broadcasting partners, if the Rangers newco was launched in the Third Division.
The newco Rangers had to apply to continue their existence in the SPL.
The SPL proposals would see a "newco" Rangers docked 10 points for two consecutive seasons, as well as the 75 per cent fees cut, if allowed straight back into the top flight.
Several high profile first team regulars refused to transfer their contracts to Charles Green's newco after the club was consigned to liquidation this summer.
We'll make up.'" - Charles Green, Rangers' "newco" chief executive "He wears the club shop, Tony Pulis, he wears the club shop" - Stoke crowd salute the manager's dress sense "Where you you when you were us?" - AFC Wimbledon fans wax philosophical at MK Dons.
2012 - Despite finishing 24 points behind First Division champions Ross County, Dundee's runners-up position sees them promoted back to the top flight due to newco Rangers' application to join the SPL being rejected.
As well as being hit with a points deduction, a "newco" would also face financial penalties in the form of SPL payments being slashed by 75 per cent for three seasons.
Smith said an offer of £6million to the Green consortium through Zeus Capital had been rejected, and confirmed his group have now pulled out of attempts to own the newco club in order to allow the new owners to proceed in their own way.
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