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Rangers are Rocking; Scottys Financial insight inside.


Speirs  

64 members have voted

  1. 1. Was Speirs talking the truth or lying

    • Yes
      54
    • No
      10

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The board are totally disengaged from the fans. Only the fans can effect real change but its going to be a painful process. However I think the fans are getting support from the media.

Keith Jackson will be forever tainted with the "off the radar" comment but at least he appears to be trying to push a story rather than just regurgitate the Super Ally angle.

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Can one of the bluenoses help me out with a question.

Why did Sir David Murray sell RFC (to a corporate vulture) for a fire sale solitary pound BEFORE the big tax case was even decided?

I think he was forced to sell by the bank and it was all linked in the bank debt at MIM. Bear in mind even without the big tax case we (he) were still about £20M in debt so I'm sure he was delighted to walk away from that.

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I see Mike Ashley has said that he won't be purchasing shares in the open issue. Playing a longer game, perhaps?

I didn't think he could buy anymore shares? I thought he was stuck at <10% (he currently has 9%) under SFA rules until he gets shot of Newcastle?

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Lloyds Banking Group has injected a further £117.7 million of (debt converted to) capital into metals-to-property entrepreneur Sir David Murray’s business empire to help reduce the debt pile.
This capital injection was revealed yesterday with news of a tumble in underlying profits at Murray International Holdings (MIH), and a huge exceptional write-off of £59m arising from Sir David's sale last year of 85% of Rangers Football Club to businessman Craig Whyte for £1.

http://www.bbc.com/news/uk-scotland-17656555

That was 2012...

This was 2010...

http://www.ianfraser.org/i%E2%80%99m-still-in-the-game-says-murray/

This is the pound of flesh demanded by Lloyds — which has agreed to write off £150m of the money owed by MIH in a debt-for-equity swap — from Murray after nearly a year of negotiations. The businessman compares the experience of the past 12 months to being “stuck in a maze”.
So that was 326m of debt essentially written off in less than 2 years... so why was the piddling 20m in RFC balance sheet (and I think it was maybe even less than 20 m BTW) so crucial to LLoyds Bank so much so they 'forced' Sir David to sell for a pound?
I see what you are saying but it does not add up for me.
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