Generic Sevco / Rangers meltdown thread

[Lucius Apuleius]

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He means 'gratuitous alienation of assets'.

HTH .

OK, the alienation means removal, and gratuitous means unnecessary, underpriced or free. The suggestion is that D&P were in league with Green and passed the assets on to him at less than market value. On the face of it it seems a strong claim - £1.5m for Ibrox and Murray Park seems way underpriced and the trophies and history that Green keeps banging on about buying can only have been included in the Goodwill, which cost him a single pound.

Far too many words of more than one syllable for a football supporter's board.

[Caversham Green]

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Far too many words of more than one syllable for a football supporter's board.

They selt stuff too cheap.

[Lucius Apuleius]

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They selt stuff too cheap.

Much better old chap.

[LeighLoyal]

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He means 'gratuitous alienation of assets'.

HTH




OK, the alienation means removal, and gratuitous means unnecessary, underpriced or free. The suggestion is that D&P were in league with Green and passed the assets on to him at less than market value. On the face of it it seems a strong claim - £1.5m for Ibrox and Murray Park seems way underpriced and the trophies and history that Green keeps banging on about buying can only have been included in the Goodwill, which cost him a single pound.

Whatever the D&P/Sevco arrangement was, they definitely did not pass over anything at market value. The creditors were not looked after, just D&P.

The season book tally of 36k, loads of concessions there, is defo a worry for Gween, especially if they do not secure promotion. That would mean instant Zombie death for sure as the defiance factor wanes and reality bites. I also doubt their claim that the wage bill is 6m. Lee Wallace alone is on 1m a year, the players they loaned out, Goian and Bochanegra, will still have a portion of their huge wage paid by Sevco. Then you have the mystery of what McClulloch and Sally are being paid. Circa 1.2m a year each on oldco terms, no way has that substantially reduced. Black, Shiels, Templeton and Sandanza, collective 1.5m. So when you factor in the whole squad Gweenie is talking sh it again.


The zombies are not out the woods yet!

[grunt]

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I also doubt their claim that the wage bill is 6m.

Me too. Struck me as incredible when I read it.

I also wonder what happened to the 326 staff who were employed by Rangers on 14 February 2012. I think there were two reported redundancies - Gordon Smith and another, and I don't recall any other redundancies being reported. You'd think that with the Scottish mainstream media camped outside Ibrox for the last 8 months, that any other folk released would have been reported.

I read somewhere that RFC expenses in 2011 were £4m a month including wages. It would be interesting to know what economies have been achieved by Green to reduce that outlay.

[Spike Mandela]

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Me too. Struck me as incredible when I read it.

I also wonder what happened to the 326 staff who were employed by Rangers on 14 February 2012. I think there were two reported redundancies - Gordon Smith and another, and I don't recall any other redundancies being reported. You'd think that with the Scottish mainstream media camped outside Ibrox for the last 8 months, that any other folk released would have been reported.

I read somewhere that RFC expenses in 2011 were £4m a month including wages. It would be interesting to know what economies have been achieved by Green to reduce that outlay.

Maybe it is a £6m pound wage bill with a further £20m paid out to the players in the form of a loan in some type of benefit trust. Hmmm, trying to think of a catchy name for these..

[s.a.m]

11 October 2012 Last updated at 07:12 Share this page


Rangers to float on AIM market


Rangers football club has formally announced that it intends to float its shares on the AIM market in London.
The club said it intended to raise up to £20m through an institutional investor placing and limited public offering.
Rangers said the funds raised would be used to strengthen the player squad, improve facilities and provide additional working capital.
Fans wanting to invest have been invited to register their interest.

[grunt]

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Rangers said the funds raised would be used to strengthen the player squad

Thought they were subject to a transfer ban?

[Part/Time Supporter]

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Thought they were subject to a transfer ban?

That's PR spin. They need the capital raised to fund trading losses.

[down-the-slope]

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Thought they were subject to a transfer ban?

They are - first thought I had...

It must be a tester to check just how stupid the clubs 3rd division supporters really are...

I wonder if prospectus will mention anything about 'asset value' that investors are buying into

[greenginger]

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That's PR spin. They need the capital raised to fund trading losses.

I thought I read somewhere that a Company was required to have at least one year's working capital in place before it could float on the AIM market ?

[H18sry]

http://www.onfieldsofgreen.com/more-...-sports-story/

[LeighLoyal]

Looking to raise £20m Does that mean Stirling Albion are worth £40m? Cloud Cuckoo Investments are underwriting I hear.

[ballengeich]

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11 October 2012 Last updated at 07:12 Share this page


Rangers to float on AIM market


Rangers football club has formally announced that it intends to float its shares on the AIM market in London.
The club said it intended to raise up to £20m through an institutional investor placing and limited public offering.
Rangers said the funds raised would be used to strengthen the player squad, improve facilities and provide additional working capital.
Fans wanting to invest have been invited to register their interest.

I expect institutional investors will lose interest after reading the bit in bold. It sounds llike the Ibrox cashflow isn't so healthy.

[green glory]

This was always Green's plan. A share issue to recoup his 5.5m investment and make a tidy profit on top of it. When that's completed the cash flow problem, created by him when he agreed to sign/retain SPL quality players and sell ST's at greatly reduced prices won't be his problem. The fans/shareholders will be left with that headache.

Even the Sevco orcs wouldn't be able to claim continuity of history after a second insolvency which I firmly hope happens.

[LeighLoyal]

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This was always Green's plan. A share issue to recoup his 5.5m investment and make a tidy profit on top of it. When that's completed the cash flow problem, created by him when he agreed to sign/retain SPL quality players and sell ST's at greatly reduced prices won't be his problem. The fans/shareholders will be left with that headache.

Even the Sevco orcs wouldn't be able to claim continuity of history after a second insolvency which I firmly hope happens.

Which he (or his mysteron backers) haven't paid for yet. I don't think Whyte's pals D&P have received a dime, or any creditors. So "working capital" also equals the money he needs to pay off D&P, 100%. Buy new players my bahookie, Green.

[Hibrandenburg]

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11 October 2012 Last updated at 07:12 Share this page


Rangers to float on AIM market


Rangers football club has formally announced that it intends to float its shares on the AIM market in London.
The club said it intended to raise up to £20m through an institutional investor placing and limited public offering.
Rangers said the funds raised would be used to strengthen the player squad, improve facilities and provide additional working capital.
Fans wanting to invest have been invited to register their interest.

Finally, hard evidence that **** floats.

[Kaiser1962]

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I thought I read somewhere that a Company was required to have at least one year's working capital in place before it could float on the AIM market ?

I certainly wouldnt be investing in any share issue that is trying to raise working capital for starters. Add to that their stadium/training ground is pretty much as good as it gets so I fail to see how there is any need to "improve facilities". And finally they are unable to sign any players until January 2014.

Bizarre to say the least.

[Bill Milne]

This is why the Huns should not trust Green. Among the reasons for floating on AIM is a need to "strengthen the squad", when they won't be able to sign players under January 2014 anyway!!

[steviehibsleith]

The Huns have tried share issues in the past and raised a paltry sum then, now in a recession they are asking individuals to purchase a minimum of £500 !
Then to say its to strengthen the squad and for working capital I'm guessing they will be lucky to get £500000 or 1000 complete numpties.
charles green is showing is hand and the bluff has failed

[jacomo]

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The Huns have tried share issues in the past and raised a paltry sum then, now in a recession they are asking individuals to purchase a minimum of £500 !
Then to say its to strengthen the squad and for working capital I'm guessing they will be lucky to get £500000 or 1000 complete numpties.
charles green is showing is hand and the bluff has failed

Indeed. Sir Moonbeams had to underwrite his £50m share issue in its entirety after it attracted next to zero interest from the supporters. I am not sure how raising £20m now will be any easier.

[jacomo]

Neil Doncaster smugly announcing this morning that the SPL has "adapted remarkably well" to Rangers' demise:

http://www.bbc.co.uk/sport/0/football/19904760

It would have been a good opportunity to give a little credit to the supporters - both for backing their clubs this season by attending games, and more generally for all of us who didn't buy the predictions of armageddon if Rangers couldn't cheat their way back into the top tier after going bust.

Another opportunity missed, not surprisingly. I continue to be amazed that this man and Regan are still in their jobs, having palpably failed to offer any form of leadership when it was needed most.

[hibs0666]

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I certainly wouldnt be investing in any share issue that is trying to raise working capital for starters. Add to that their stadium/training ground is pretty much as good as it gets so I fail to see how there is any need to "improve facilities". And finally they are unable to sign any players until January 2014.

Bizarre to say the least.

Ibrox looks fine from the outside but its catering facilities etc. are pretty dated.

[jonty]

http://www.bbc.co.uk/sport/0/football/19907314

Ex-Rangers director Paul Murray claims Scottish football power shift
Murray, whose Blue Knights group led an unsuccessful bid to buy the club in the summer, believes the Scottish Premier League is less powerful than before.
And he thinks more power has moved to the Scottish Football League with Rangers as a member club.
"The dynamics of power have changed a bit from the SPL to the SFL," he said.
"The SFL have now, perversely, got quite a bit of power because they have now got Rangers as one of their member clubs.

Quite a bit of power? away and boil yer heid.

[Purple & Green]

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The Huns have tried share issues in the past and raised a paltry sum then, now in a recession they are asking individuals to purchase a minimum of £500 !
Then to say its to strengthen the squad and for working capital I'm guessing they will be lucky to get £500000 or 1000 complete numpties.
charles green is showing is hand and the bluff has failed

And you're asking the same people who were shareholders until last year and lost their shareholdings which they presumably paid about £500 to own. So, the bold Chazza is asking people to pay again for what they already owned.

I'm not convinced his strategy will be successful here, I think even an orc could work out they are being ripped off.

[LancsHibs]

What's 'Bommer' Brown's thoughts on the matter Are we going to see another hilarious gathering on the steps of Ibrox

[LeighLoyal]

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And you're asking the same people who were shareholders until last year and lost their shareholdings which they presumably paid about £500 to own. So, the bold Chazza is asking people to pay again for what they already owned.

I'm not convinced his strategy will be successful here, I think even an orc could work out they are being ripped off.

Fools and their money though.

[Bad Martini]

This **** is like a dream come true...

You couldnae have made it up. The manky ones are taken apart, slowly and surely by green and whyte....it'll be noted on their obituary.

Arguably just beaten of (based on league stature) one of thee worst teams in Scotland, skint and with the prospects of a toilet duck?

Shame.

Real shame.

Real real shame.

Real real real shame.

**** it. I'll go first;










































HAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHA

ENDOF

[Phil D. Rolls]

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What's 'Bommer' Brown's thoughts on the matter Are we going to see another hilarious gathering on the steps of Ibrox

In a scene right out the bier kellers of Munich in the 1920s, Bomber Brown addressed his loyal supporters in the Loudon Tavern today (simply the best by the way - or the best for the simple, I can't quite remember.

Show some respect, show some respect, eh, the sit-you-ation has become such that wiz have no got any option bit tae act now tae save the club that we love and hold so dear. There will be no vandalism, no bevvying......and absolutely NO SURRENDER.....(aw ***** ah wisnae meant tae say that, of course the boyz is entitled tae a bevvy). Eh, show some respect now.

[grunt]

Good bit from the BBC Radio Scotland morning show's business section, interview with Justin Urquhart-Stewart about the Rangers IPO.
Worth a listen, from 2h 36m into the show here:

http://www.bbc.co.uk/programmes/b01n0z67

"So, a risky investment, then?" "Very risky".