Fred_Zeppelin Posted January 4, 2015 Share Posted January 4, 2015 Care to expand? Source? The timing of the article re the American sports owner is bizarre given it's a fortnight out of date and, in light of the recent purchase if shares, the content is no longer as relevant. www.followfollow.com Quote Link to comment Share on other sites More sharing options...
Scotty CTA Posted January 5, 2015 Share Posted January 5, 2015 "Financially, however, the club is now running on fumes and the process by which shareholders’ meetings can be requisitioned – up to seven weeks – is out of the question. Ashley is the only possible alternative for a board which has been deserted and vilified by fans." http://www.telegraph.co.uk/sport/football/teams/rangers/11324834/Rangers-board-to-lose-power-unless-Mike-Ashley-steps-in-to-save-directors.html Quote Link to comment Share on other sites More sharing options...
EddardStark Posted January 5, 2015 Share Posted January 5, 2015 (edited) Stock Exchange announcement is that Sandy Easdale has made available a credit facility of £500k so no doubt we are out of cash. Also Rangers have confirmed Sarver's offer is on the table and genuine. It could go anyway this week with so many players in the market. Rumours are trading of shares have been suspended. Edited January 5, 2015 by EddardStark Quote Link to comment Share on other sites More sharing options...
EddardStark Posted January 5, 2015 Share Posted January 5, 2015 (edited) Rumors of dirty deeds by existing board to head off more share purchases and an EGM called by Park, King and Co. I am not going to post this though. If you want to find out you will have to log on to FF. Edited January 5, 2015 by EddardStark Quote Link to comment Share on other sites More sharing options...
Ally Bongo Posted January 5, 2015 Share Posted January 5, 2015 Another "Emergency" loan stops them from being wound up http://www.bbc.co.uk/sport/0/football/30678270 Quote Link to comment Share on other sites More sharing options...
adamntg Posted January 5, 2015 Share Posted January 5, 2015 Another "Emergency" loan stops them from being wound up http://www.bbc.co.uk/sport/0/football/30678270 Jesus. Is this at the stage now where they can't flush out new money because bidders will be waiting to pick it up cheap in a fire sale again? Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted January 5, 2015 Share Posted January 5, 2015 Jesus. Is this at the stage now where they can't flush out new money because bidders will be waiting to pick it up cheap in a fire sale again? There's plenty of new money on offer, they just don't want to accept it. Quote Link to comment Share on other sites More sharing options...
beardy Posted January 5, 2015 Share Posted January 5, 2015 The important thing in all this is that Phil Macgoillobhain was wrong about the security over Lewis MacLeod, right bears? While Rome burns and all that. Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted January 5, 2015 Share Posted January 5, 2015 The important thing in all this is that Phil Macgoillobhain was wrong about the security over Lewis MacLeod, right bears? While Rome burns and all that. Aye, that's what we've been saying. We're all completely oblivious to the problems we currently have but we can slag a tim so all good. Quote Link to comment Share on other sites More sharing options...
Big Col Posted January 5, 2015 Share Posted January 5, 2015 so Rangers are currently broke there are now people wanting to buy shares and put money in but that process if successful (egm, votes, share issues) would take several weeks, is that correct? So they'll still need another crisis loan from MASH to get through the January wage bill. does that about sum it up? Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted January 5, 2015 Share Posted January 5, 2015 so Rangers are currently broke there are now people wanting to buy shares and put money in but that process if successful (egm, votes, share issues) would take several weeks, is that correct? So they'll still need another crisis loan from MASH to get through the January wage bill. does that about sum it up? If you swap the word currently for perpetually then you're more or less on the money. I think they needed the money from Easdale as the SFA have held back money from the McLeod sale for something although I'm not sure what. Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted January 5, 2015 Share Posted January 5, 2015 What were Livingston docked 10 points for? Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted January 5, 2015 Share Posted January 5, 2015 What were Livingston docked 10 points for? Non payment of taxes, although I assume you know this. Quote Link to comment Share on other sites More sharing options...
Toepoke Posted January 5, 2015 Share Posted January 5, 2015 What were Livingston docked 10 points for? Giving players tax free bonuses I think it was. It was only 5 points btw. Quote Link to comment Share on other sites More sharing options...
adamntg Posted January 5, 2015 Share Posted January 5, 2015 If you swap the word currently for perpetually then you're more or less on the money. I think they needed the money from Easdale as the SFA have held back money from the McLeod sale for something although I'm not sure what. Didn't the BBC say it was needed because HMRC were going to wind the club up over non-payment of NI? Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted January 5, 2015 Share Posted January 5, 2015 Didn't the BBC say it was needed because HMRC were going to wind the club up over non-payment of NI? I think so yes but assume the McLeod money was earmarked to pay for it. It doesn't really make much difference what it was for, it's clear that cash flow levels are critical yet again. Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted January 5, 2015 Share Posted January 5, 2015 Non payment of taxes, although I assume you know this. Right, so what are the SFA doing about Sevco? Quote Link to comment Share on other sites More sharing options...
UPROAR Posted January 5, 2015 Share Posted January 5, 2015 so anyone who buys the club will inherit cash debts amounting to £5-10Million (or more by the time a sale happens?). Also people like Ashley will have the rights to much of the profitable cash flow ? This would mean shelling out £20M or so to buy the club and then another £10-£15M to pay off the creditors, buy back the rights and then a million a month on operating costs ? thats feckn bonkers, is anyone going to do that when it will be available in a few months for practically nothing ? Quote Link to comment Share on other sites More sharing options...
perthTam Posted January 5, 2015 Share Posted January 5, 2015 Right, so what are the SFA doing about Sevco? At what point do the directors have to admit defeat and confirm the company is trading insolvently before they risk getting the jail? Quote Link to comment Share on other sites More sharing options...
Scunnered Posted January 5, 2015 Share Posted January 5, 2015 At what point do the directors have to admit defeat and confirm the company is trading insolvently before they risk getting the jail? Valentines day. Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted January 5, 2015 Share Posted January 5, 2015 Right, so what are the SFA doing about Sevco? I don't work for the SFA, you'd need to ask them. Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted January 5, 2015 Share Posted January 5, 2015 I don't work for the SFA, you'd need to ask them. It's a rhetorical question. Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted January 5, 2015 Share Posted January 5, 2015 It's a rhetorical question. I'm guessing that there might be differences in each case, or simply that the SFA aren't/weren't aware of ours. Livi only got found out as they brought it to the SFA's attention IIRC. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted January 5, 2015 Share Posted January 5, 2015 so anyone who buys the club will inherit cash debts amounting to £5-10Million (or more by the time a sale happens?). Also people like Ashley will have the rights to much of the profitable cash flow ? This would mean shelling out £20M or so to buy the club and then another £10-£15M to pay off the creditors, buy back the rights and then a million a month on operating costs ? thats feckn bonkers, is anyone going to do that when it will be available in a few months for practically nothing ? Not sure where you get your figures from! It seems to me that if king and the three bears get support from the fans, they will have control of the club, so they don't need to spend much more money in this regard. In terms of debts, we owe Ashley £3m and Easedale £500k plus other working capital debts. Hopefully, king and three bears can get board room control by an egm, pay off the loans and install themselves as replacement creditors with a further facility until the end of the season at which time a complete overhaul of the playing squad and club generally can occur to control costs and repay the loans. That is the ideal scenario in my view. Quote Link to comment Share on other sites More sharing options...
Toepoke Posted January 5, 2015 Share Posted January 5, 2015 Well Rangers have actually paid their tax, albeit after a final demand. Also Livi's penalty was imposed 3 years after the offence took place. Quote Link to comment Share on other sites More sharing options...
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