Generic Sevco / Rangers meltdown thread

[Ozyhibby]

http://www.onfieldsofgreen.com/sums-sevco-style/


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[gorgie greens]

http://www.onfieldsofgreen.com/sums-sevco-style/


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the £3.000.000 to £7.500.000 needed , the main thing about this is no one knows are these conservative amounts ?
The so called £5 million for MA they claimed in court to have been paid , which was later said that they are £500.000 short
so am i right in saying they have paid the £4.500.000 off already or are they waiting till they get the remainder of the money before paying that debt off, or do they even have the £4.500.000 to begin with at all.
The first priority should be to make sure they can finish the season.
Next should be to make sure they get back in the top tier
Once back in the promised land they can then address MA loan as there revenue will go up.

i dont think they will strengthen their team in transfer window if anything i can see guys moving out and being replaced with cheaper options but knowing the huns they will spend money they dont have.

[Onion]

the £3.000.000 to £7.500.000 needed , the main thing about this is no one knows are these conservative amounts ?
The so called £5 million for MA they claimed in court to have been paid , which was later said that they are £500.000 short
so am i right in saying they have paid the £4.500.000 off already or are they waiting till they get the remainder of the money before paying that debt off, or do they even have the £4.500.000 to begin with at all.
The first priority should be to make sure they can finish the season.
Next should be to make sure they get back in the top tier
Once back in the promised land they can then address MA loan as there revenue will go up.

i dont think they will strengthen their team in transfer window if anything i can see guys moving out and being replaced with cheaper options but knowing the huns they will spend money they dont have.

Depends what you mean by strengthen. With a player budget 4 times that of Hibs, all Warburton needs to do is find the right mix of players to win this league. He doesn't need to spend more money, just spend whatever he can get effectively. So if he can move one or two of the higher paid players on (or for money), he might find cheaper players but a better balance. One things for sure, Sevco's squad is thin with some key pieces missing (in midfield) and far from assured of winning any league, so the pressure on them to do SOMETHING is huge.

That's why they need Reagan and Doncaster will dress up as Santa this year and hand Sevco a "Go to Prem" card before it looks contrived :wink:

[brog]

[QUOTE=gorgie greens;4523416]the £3.000.000 to £7.500.000 needed , the main thing about this is no one knows are these conservative amounts ?
The so called £5 million for MA they claimed in court to have been paid , which was later said that they are £500.000 short
so am i right in saying they have paid the £4.500.000 off already or are they waiting till they get the remainder of the money before paying that debt off, or do they even have the £4.500.000 to begin with at all.
The first priority should be to make sure they can finish the season.
Next should be to make sure they get back in the top tier
Once back in the promised land they can then address MA loan as there revenue will go up.

i dont think they will strengthen their team in transfer window if anything i can see guys moving out and being replaced with cheaper options but knowing the huns they will spend money they dont have.[/QUOT



They've paid as much of the £5m as they have of the £250k fine levied on them after the LNS whitewash. Ie, zip!

[greenginger]

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-captain-lee-wallace-tells-7012206

Lee Wallace bigging up the Rangers in this mornings Daily ******.

I wonder if they are all familiar with Trigger's gun toting past .:greengrin

[Jim44]

They've paid as much of the £5m as they have of the £250k fine levied on them after the LNS whitewash. Ie, zip!



While you're probably/possibly right, we don't know for sure how much, if any of the £5m has been paid. We are all sceptical about everything Sevco and we all wish them the worst but a lot of what's being banded about stems from or is reinforced, whether accurately or not, by the bloggers, who are blinkered and driven by their own agendas and prejudices. Like everbody, I initially thought these guys were a breath of fresh air but I've started to curb my enthusiasm for their diatribes.

[Ozyhibby]

I don't think they have a player budget 4 times that of Hibs. I think Stubbs was being a bit mischievous there, knowing that Warburton or anyone from Rangers would deny it as they need their fans to believe they are still as big as Celtic.
They signed a couple of decent players who have had a great start but are starting to fade already and they don't have a squad big enough. I don't expect January reinforcements.


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[Brunswickbill]

the £3.000.000 to £7.500.000 needed , the main thing about this is no one knows are these conservative amounts ?
The so called £5 million for MA they claimed in court to have been paid , which was later said that they are £500.000 short
so am i right in saying they have paid the £4.500.000 off already or are they waiting till they get the remainder of the money before paying that debt off, or do they even have the £4.500.000 to begin with at all.
The first priority should be to make sure they can finish the season.
Next should be to make sure they get back in the top tier
Once back in the promised land they can then address MA loan as there revenue will go up.

i dont think they will strengthen their team in transfer window if anything i can see guys moving out and being replaced with cheaper options but knowing the huns they will spend money they dont have.

I would think that they'll have to pay the whole £5M to release themselves from the conditions of the loan. You can't get 90% of the security on the SECVO property back. I suspect that the paying off of the loan is an effort to assuage MA/SD with pressure being exerted from SFA/SPFL. But even if/when they pay off the loan they still have to deal with MA/SD as there appears to be a 7 year notoification for the termination of the retail contract. Also the document posted by Ozz indicates that there are mechanisms whereby SD could buy control of the joint enterprise. Clearly the whole thing has become very personal between MA and DK and rational discussion has probably gone out the window. So who knows what the next steps will be.

In relation to the 4 times larger player budget, presumably this is largely tied up with overblown wages being paid to existing players. It's not as if all of the the budget is liquid and available to buy in new players. I would think that the players that they have will want to stay put as they are, with perhaps a couple of exceptions, at best very average players who wouldn't get the same pay at other clubs.

[Ozyhibby]

They've paid as much of the £5m as they have of the £250k fine levied on them after the LNS whitewash. Ie, zip!



While you're probably/possibly right, we don't know for sure how much, if any of the £5m has been paid. We are all sceptical about everything Sevco and we all wish them the worst but a lot of what's being banded about stems from or is reinforced, whether accurately or not, by the bloggers, who are blinkered and driven by their own agendas and prejudices. Like everbody, I initially thought these guys were a breath of fresh air but I've started to curb my enthusiasm for their diatribes.

They have paid zero of the £5m to Sports Direct. This was confirmed by Grant Russell of STV.
http://images.tapatalk-cdn.com/15/12/15/3653049eae82d8b41a74dd161321b5f1.jpg



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[andrew70]

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-captain-lee-wallace-tells-7012206

Lee Wallace bigging up the Rangers in this mornings Daily ******.

I wonder if they are all familiar with Trigger's gun toting past .:greengrin

Read that earlier. Should be pinned up on the dressing room wall. Time to show them who really is the best.

[jacomo]

They have paid zero of the £5m to Sports Direct. This was confirmed by Grant Russell of STV.
http://images.tapatalk-cdn.com/15/12/15/3653049eae82d8b41a74dd161321b5f1.jpg



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I can't see any incentive for Sevco paying back the £5m bit by bit. It's not like SD will show them any goodwill for doing so, so it would make sense to wait until they've got the full amount.

I do find it unbelievable, though, that Sevco told a court they had paid the money back if they have not done so. I guess 'glib and shameless' was pretty accurate.

[greenginger]

Read that earlier. Should be pinned up on the dressing room wall. Time to show them who really is the best.


What with their criminal Chairman and a gun toting club captain,

http://news.bbc.co.uk/1/hi/scotland/edinburgh_and_east/5319592.stm

Pity they got shot of the Islamaphobic director, could have had a full-house ! :greengrin

[Dashing Bob S]

I don't think they have a player budget 4 times that of Hibs. I think Stubbs was being a bit mischievous there, knowing that Warburton or anyone from Rangers would deny it as they need their fans to believe they are still as big as Celtic.
They signed a couple of decent players who have had a great start but are starting to fade already and they don't have a squad big enough. I don't expect January reinforcements.


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I agree, and I think that they are also handicapped by their recent history of paying over the odds for players who are okay by Scottish standards, but still not very good. Agents see them as an easy mark, and they are too full of themselves not to pay the bigger money for donkeys.

[Libby Hibby]

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-captain-lee-wallace-tells-7012206

Lee Wallace bigging up the Rangers in this mornings Daily ******.

I wonder if they are all familiar with Trigger's gun toting past .:greengrin

Must be brilliant to have a propaganda mouthpiece the size of the records to distort the truth...forget the poor form, forget, the dropped points and forget the directors court cases...but roll out a 'we're better than the rest' article to appease the orks...somebody has got them rattled and I love it!!!

[jacomo]

Must be brilliant to have a propaganda mouthpiece the size of the records to distort the truth...forget the poor form, forget, the dropped points and forget the directors court cases...but roll out a 'we're better than the rest' article to appease the orks...somebody has got them rattled and I love it!!!

Darren MacGregor should have a word. Time for Wallace to put in a transfer request so that he can join his boyhood heroes.

[brog]

They have paid zero of the £5m to Sports Direct. This was confirmed by Grant Russell of STV.
http://images.tapatalk-cdn.com/15/12/15/3653049eae82d8b41a74dd161321b5f1.jpg



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Thanks, beat me to it! Just how do they continue to get away with this?

[greenginger]

I agree, and I think that they are also handicapped by their recent history of paying over the odds for players who are okay by Scottish standards, but still not very good. Agents see them as an easy mark, and they are too full of themselves not to pay the bigger money for donkeys.


Ranger's accounts show staff costs for 14/15 at just under £14 million and detail first team squad costs at £ 6.5 million.

Hibs accounts show staff costs for 14/15 at £ 3.4 million, and guessing the same percentage ( 46% ) attributable to first team would give our costs as £ 1.56 million.

That's less than a quarter of the Ranger's costs.

[1875godsgift]

Yes 7 mins from £240!! Ridiculous odds!

Must admit I stuck a sneaky muff on it too after seeing your initial post! Crazy odds!
It was worth it for the few minutes of excitement ☺

[Cropley10]

Ranger's accounts show staff costs for 14/15 at just under £14 million and detail first team squad costs at £ 6.5 million.

Hibs accounts show staff costs for 14/15 at £ 3.4 million, and guessing the same percentage ( 46% ) attributable to first team would give our costs as £ 1.56 million.

That's less than a quarter of the Ranger's costs.

Second highest squad cost behind Celtc.

Loving the fact that their costs are greater than their income, there is no war-chest, spending on lawyers and not players, which could well mean there's players and even a manager, going out in the January window.

But, we shouldn't worry - the SFA will increase the size of the top league if the worst should happen...

[JeMeSouviens]

Second highest squad cost behind Celtc.

Loving the fact that their costs are greater than their income, there is no war-chest, spending on lawyers and not players, which could well mean there's players and even a manager, going out in the January window.

But, we shouldn't worry - the SFA will increase the size of the top league if the worst should happen...

Lots of people said that last year and they can't do it unless almost all clubs agree.

[CropleyWasGod]

Second highest squad cost behind Celtc.

Loving the fact that their costs are greater than their income, there is no war-chest, spending on lawyers and not players, which could well mean there's players and even a manager, going out in the January window.

But, we shouldn't worry - the SFA will increase the size of the top league if the worst should happen...

Ain't in their gift. :cb

[jacomo]

http://www.philmacgiollabhain.ie/charming-and-not-in-the-least-offensive/

Wonder if Hibs got an invite.


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If this is genuine, sounds like a job for Petrie. Leeann's got a job to do, don't want her wasting her time with glib and shameless liars.

Mind you, if Dave King invites you to lunch, you'd really want to check he hasn't left his wallet in the car before you sat down.

[Brunswickbill]

First one up is this Wednesday. Chuckie Green appealing against decision not to award him legal expenses for his court cases.

http://www.sfm.scot/lns-a-summary/?cid=24598

[Moulin Yarns]

I see the Petrofac cup final venue favours the young club.


http://www.bbc.co.uk/sport/0/football/35105603

[Bostonhibby]

I see the Petrofac cup final venue favours the young club.


http://www.bbc.co.uk/sport/0/football/35105603
Wonder if they'll put The rangers on the cup if they win it. Got to get it right for their first cup final win. They must be all excited.

[Lucius Apuleius]

I see the Petrofac cup final venue favours the young club.


http://www.bbc.co.uk/sport/0/football/35105603

:confused: Why?

[hibs0666]

I see the Petrofac cup final venue favours the young club.


http://www.bbc.co.uk/sport/0/football/35105603

How come? They have never even played at Hampden. :confused:

[jonty]

How come? They have never even played at Hampden. :confused:
The cynic in me would sing:

money money money money. money.

Bigger gate receipts?

[stantonhibby]

How come? They have never even played at Hampden. :confused:

Played Celtic there in a semi final a couple of years ago? 1st Feb this year actually.

[hibs0666]

The cynic in me would sing:

money money money money. money.

Bigger gate receipts?

The choice of stadium allows everyone that wants to see the game to be there - that's got to be a good thing surely.

[Ozyhibby]

How come? They have never even played at Hampden. :confused:

Played Celtic there a couple of months back.


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[jacomo]

I see the Petrofac cup final venue favours the young club.


http://www.bbc.co.uk/sport/0/football/35105603

Decent pay day for The Rangers. I'm sure the cash injection will as welcome as the glory of playing in a tin pot final... wait, it's not until 10 April? Wow. That's a bit of a wait.

[Sergey]

Decent pay day for The Rangers. I'm sure the cash injection will as welcome as the glory of playing in a tin pot final... wait, it's not until 10 April? Wow. That's a bit of a wait.

SEVCO (or any other team) don't see the cup prize-money until after the season's end anyway. They could play the match tomorrow and they still wouldn't see a penny.

I'm sure if they really needed the money, then the authorities would without doubt advance them it rather than see them go into admin again.

[Ozyhibby]

http://www.espnfc.com/twente-enschede/story/2758095/dutch-knvb-bans-fc-twente-from-europe-for-three-years

What happens when an FA is not corrupt.


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[MKHIBEE]

Decent pay day for The Rangers. I'm sure the cash injection will as welcome as the glory of playing in a tin pot final... wait, it's not until 10 April? Wow. That's a bit of a wait.

its an even better pay day for Peterhead,relatively speaking.

[gorgie greens]

How come? They have never even played at Hampden. :confused:

They played Queen's Park on there way up the leagues

[greenginger]

https://twitter.com/jamesdoleman?lang=en


Chuckie Green V Sevco.

Fixture rearranged for 29th January.

[Ozyhibby]

https://twitter.com/jamesdoleman?lang=en


Chuckie Green V Sevco.

Fixture rearranged for 29th January.

Looks like Charlie won the right to a full appeal hearing. Also new charges against Charlie. Wonder if those new charges are covered by his termination contract?


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[Salt N Sauzee]

I see the Petrofac cup final venue favours the young club.


http://www.bbc.co.uk/sport/0/football/35105603



It's only a 360 mile round trip to Hampden for Peterhead FC and their fans. Makes complete sense.

[scoopyboy]

It's only a 360 mile round trip to Hampden for Peterhead FC and their fans. Makes complete sense.

Yes, especially as Peterhead also asked for Hampden as the venue.

[Hibee87]

Are we really that paranoid now that we think its only at hampden so rangers get more money? :confused:

[Gingertosser]

It might help us.

I'm sure by 10th April they will wish they never had this game to play.

The fact they would have sold thousands of tickets means they would still have to play a full strength team.

Hopefully, they slip up around this time.

[Springbank]

Looks like Charlie won the right to a full appeal hearing. Also new charges against Charlie. Wonder if those new charges are covered by his termination contract?


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Importantly, from our point of view, this introduces an unavoidable financial risk for the rifc board that sits right at the end of the transfer window.

should see the warb chest remain shut this season

[jacomo]

[QUOTE=Gingertosser;4524061]It might help us.

I'm sure by 10th April they will wish they never had this game to play.

The fact they would have sold thousands of tickets means they would still have to play a full strength team.

Hopefully, they slip up around this time.[QUOTE]

You are being harsh! What about poor Swally's efforts to win a cup for both of the Rangers teams he managed? So many attempts, zero successes.

This first trophy would no doubt mean a lot to this young club.

[Just Alf]

Importantly, from our point of view, this introduces an unavoidable financial risk for the rifc board that sits right at the end of the transfer window.

should see the warb chest remain shut this season
I was thinking exactly this! ..... here's hoping :agree:

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[Deansy]

Importantly, from our point of view, this introduces an unavoidable financial risk for the rifc board that sits right at the end of the transfer window.

should see the warb chest remain shut this season

Along with his mouth - respectively !

[Ozyhibby]

http://thecelticblog.com/2015/12/blogs/stewart-milne-sells-out-his-own-fans-with-a-pro-sevco-speech#hFPyXgpA7e2HyMp3.97


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[Deansy]

http://thecelticblog.com/2015/12/blogs/stewart-milne-sells-out-his-own-fans-with-a-pro-sevco-speech#hFPyXgpA7e2HyMp3.97


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Abysmal and a disgrace though no shock that the people allegedly in charge of our game/clubs can't wait until everything's 'as it was' until the Hun got caught - hell mend them, they have been well warned.

[JimBHibees]

Abysmal and a disgrace though no shock that the people allegedly in charge of our game/clubs can't wait until everything's 'as it was' until the Hun got caught - hell mend them, they have been well warned.

Was it Aberdeen that voted to preserve the OF voting veto? Seems incredible.

[bingo70]

Was it Aberdeen that voted to preserve the OF voting veto? Seems incredible.

I've not read that link but I thought the old firm veto was lost when the spl was scrapped? As it's all spfl now, they're just two out of 42 votes instead of 2 out of 12?

[JimBHibees]

I've not read that link but I thought the old firm veto was lost when the spl was scrapped? As it's all spfl now, they're just two out of 42 votes instead of 2 out of 12?

Wasn't in the link just have some recollection of Aberdeen voting to preserve the voting structure previously which favoured OF.

[Ozyhibby]

http://images.tapatalk-cdn.com/15/12/16/5a3f732c751dc5f6628c04aa22dbb641.jpg



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[jacomo]

http://images.tapatalk-cdn.com/15/12/16/5a3f732c751dc5f6628c04aa22dbb641.jpg



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Bit of a wordy rant, but he's got a point. How is it that Rangers can persistently break clear and unambiguous rules on declaring full details of all player contracts and get away with it?

[Moulin Yarns]

Saw this elsewhere, a few contracts ending in January.



Dominic Ball – January 2016 (loan period expired),
Nicky Law – January 2016 (end contract),
Gedion Zelalem – January 2016 (loan period expired),
Oduwa – January 2016 (loan period expired),
Nicky Clark – January 2016 (end contract),
Barrie McKay – January 2016 (end contract),
Fraser Aird – January 2016 (end contract),
Robbie Crawford – January 2016 (end contract),
Andy Murdoch – January 2016 (end contract).

I guess this is where the 'Warby Chest' is coming from.

[jonty]

Are we really that paranoid now that we think its only at hampden so rangers get more money? :confused:

Not just Rangers - all parties.
Other than that, there haven't been any clear reasons why its changed venue. http://www.skysports.com/football/news/11788/10100903/rangers-v-peterhead-hampden-park-to-host-petrofac-training-cup-final
First time in 26 years.
Given the larger quantity of supporters wanting to attend it makes sense to milk them for all the money they can - why shoe-horn them into a smaller stadium?

[scoopyboy]

Saw this elsewhere, a few contracts ending in January.



Dominic Ball – January 2016 (loan period expired),
Nicky Law – January 2016 (end contract),
Gedion Zelalem – January 2016 (loan period expired),
Oduwa – January 2016 (loan period expired),
Nicky Clark – January 2016 (end contract),
Barrie McKay – January 2016 (end contract),
Fraser Aird – January 2016 (end contract),
Robbie Crawford – January 2016 (end contract),
Andy Murdoch – January 2016 (end contract).

I guess this is where the 'Warby Chest' is coming from.

Not doubting the information in the slightest but I find it really strange that so many players are out of contract at the end of January, most contracts end at the end of a season.

[Deansy]

Not doubting the information in the slightest but I find it really strange that so many players are out of contract at the end of January, most contracts end at the end of a season.

Because the Hun still thinks it's a huge, major club that players will crawl over broken-glass to play for - strange that 'draw' doesn't seem to be mentioned so much these days, ever since the EBT's were stopped ........,,

[Weststandwanab]

Not doubting the information in the slightest but I find it really strange that so many players are out of contract at the end of January, most contracts end at the end of a season.

Just in time for Admin 2

[Moulin Yarns]

Not doubting the information in the slightest but I find it really strange that so many players are out of contract at the end of January, most contracts end at the end of a season.

Looks like the info was duff, sorry.

Zelalam appears to be the only out of contract in January according to Transfer Market

[brog]

http://images.tapatalk-cdn.com/15/12/16/5a3f732c751dc5f6628c04aa22dbb641.jpg



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Excellent letter, well done that man!

[Platinum Scotty]

Excellent letter, well done that man!

agree totally - very well written

[Jim44]

Sorry to be a bore, but what did Stewart Milne say?

[Brunswickbill]

Sorry to be a bore, but what did Stewart Milne say?

According to the Herald online:-
He said: “We want to have all of the top clubs up in the Premiership.
“If Rangers come up with the right approach – and everyone allows them to put what happened in the past behind them – it would be good for the game.
“It would be fantastic if Hibs were able to get back up to the Premiership this season as well.
“When you look back over the last five to six years we have come through some horrendous times economically.
“Some of our top clubs not being in the top division for a substantial part of that period didn’t help.
“We are bringing less money into the game through media deals than we were back in 2007.

“The Sky contract was renegotiated when we lost Rangers because they were part of the deal.
“We could no longer fulfil our agreement with them so money was pulled back.

“What we have to do now is find ways of bringing more money back into the game.
“Having Rangers and Hibs back at the top level again would help.”

Seems to me that the letter from the Dons fan is fine apart from one mistake. It isn't one club that has cheated it's way to trophies. There's two. It's just that one has managed to avoid proper scrutiny and hasn't been found out in the SMSM.

[Deansy]

According to the Herald online:-
He said: “We want to have all of the top clubs up in the Premiership.
“If Rangers come up with the right approach – and everyone allows them to put what happened in the past behind them – it would be good for the game.
“It would be fantastic if Hibs were able to get back up to the Premiership this season as well.
“When you look back over the last five to six years we have come through some horrendous times economically.
“Some of our top clubs not being in the top division for a substantial part of that period didn’t help.
“We are bringing less money into the game through media deals than we were back in 2007.

“The Sky contract was renegotiated when we lost Rangers because they were part of the deal.
“We could no longer fulfil our agreement with them so money was pulled back.

“What we have to do now is find ways of bringing more money back into the game.
“Having Rangers and Hibs back at the top level again would help.”

Seems to me that the letter from the Dons fan is fine apart from one mistake. It isn't one club that has cheated it's way to trophies. There's two. It's just that one has managed to avoid proper scrutiny and hasn't been found out in the SMSM.

Oh I wouldn't worry about that too much, once the Hun realise that their ill-gotten 'Titles/Trophies' ARE being voided, their East Coast 'B' team will be the first ones to feel the Huns wrath as they set about on a monumental, hate-filled 'Whatabootery' campaign for any club/team whose financial affairs have ever had the slightest bit scrutiny - all aided and abetted by their media !!

It's gonna be great !!

[greenginger]

Oh I wouldn't worry about that too much, once the Hun realise that their ill-gotten 'Titles/Trophies' ARE being voided, their East Coast 'B' team will be the first ones to feel the Huns wrath as they set about on a monumental, hate-filled 'Whatabootery' campaign for any club/team whose financial affairs have ever had the slightest bit scrutiny - all aided and abetted by their media !!

It's gonna be great !!


I very much doubt it, most of Scottish Football have got the belief that it was only the stupid Liths. who lost money.

A while back I had an extended exchange with a Celtic fan who was convinced Hearts owed the HMRC nowt when BDO were called in.

[Bostonhibby]

I very much doubt it, most of Scottish Football have got the belief that it was only the stupid Liths. who lost money.

A while back I had an extended exchange with a Celtic fan who was convinced Hearts owed the HMRC nowt when BDO were called in.



They ain't that popular with a few St Mirren fans I know either.

When situations like the above arise I think its our public duty to raise awareness for people that there are businesses about who have built on foundations of using money that belongs to the council, taxpayers, the NHS and even charities they claim to support, only to go into administration to avoid the debts. It's about doing the right thing.

Lest they forget.

[Brunswickbill]

I very much doubt it, most of Scottish Football have got the belief that it was only the stupid Liths. who lost money.

A while back I had an extended exchange with a Celtic fan who was convinced Hearts owed the HMRC nowt when BDO were called in.

I had a similar experience with a very knowledgeable Celtic fan who is right into the Sevco goings on. When I drew a parallel with the yams his reply was "oh but they went about it the right way." When he had scraped me off the roof I put him straight on a few things but he wasn't really interested.

[hibs0666]

I had a similar experience with a very knowledgeable Celtic fan who is right into the Sevco goings on. When I drew a parallel with the yams his reply was "oh but they went about it the right way." When he had scraped me off the roof I put him straight on a few things but he wasn't really interested.

That's the thing about that mob - they spout 'sporting integrity' but they're only really interested in a bit of one-upmanship over their rivals.

[s.a.m]

Sky Sports Scotland ‏@ScotlandSky 1m1 minute ago (https://twitter.com/ScotlandSky/status/677535047302422528) #Rangers (https://twitter.com/hashtag/Rangers?src=hash) director Paul Murray tells @SkySportsNewsHQ (https://twitter.com/SkySportsNewsHQ) £5 million has been deposited with solicitors to repay Sports Direct loan...

[robinp]

Sky Sports Scotland ‏@ScotlandSky 1m1 minute ago (https://twitter.com/ScotlandSky/status/677535047302422528) #Rangers (https://twitter.com/hashtag/Rangers?src=hash) director Paul Murray tells @SkySportsNewsHQ (https://twitter.com/SkySportsNewsHQ) £5 million has been deposited with solicitors to repay Sports Direct loan...

So we can categorically say that rangers lawyers lied in open court during one of the recent hearings vs SD!

[Baldy Foghorn]

So we can categorically say that rangers lawyers lied in open court during one of the recent hearings vs SD!

Lies lies lies, wonder if this will go unpunished?

[Col2]

Lies lies lies, wonder if this will go unpunished?

Of course it will. It's now ok to blatantly lie, either in court or to the football authorities. I remember our friends from Gorgie telling everyone how financially ok they were and fighting to prove insolvency event in Lithuania had no impact on them (to avoid automatic relegation that season) while a few weeks later going into admin and ditching £32m.

[kaimendhibs]

So we can categorically say that rangers lawyers lied in open court during one of the recent hearings vs SD!

They are shameless

[Ozyhibby]

http://www.philmacgiollabhain.ie/questions-from-a-foreign-country/


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[Radium]

Sky Sports Scotland ‏@ScotlandSky 1m1 minute ago (https://twitter.com/ScotlandSky/status/677535047302422528) #Rangers (https://twitter.com/hashtag/Rangers?src=hash) director Paul Murray tells @SkySportsNewsHQ (https://twitter.com/SkySportsNewsHQ) £5 million has been deposited with solicitors to repay Sports Direct loan...


So, they have raised money to pay a debt incurred whilst finishing third in the championship last year and may (qualified because there seem to be so many twists to the contract) be able to trigger a seven year notice period to get out of the contract. They are a mess and are using good money to pay off bad. Either they are assured of promotion (through reconstruction) that will be announced ahead of next seasons ST sales or the board room roulette table is in overdrive

[Just Alf]

They are shameless
And glib :agree:

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[kaimendhibs]

According to Paul Murray the solicitor made a simple mistake in court. Ah, thats ok then. In thevreal word im sure that is perjury

[Just Alf]

According to Paul Murray the solicitor made a simple mistake in court. Ah, thats ok then. In thevreal word im sure that is perjury
Thise of you with a better idea.... could this actually cause them a problem?

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[Bostonhibby]

Thise of you with a better idea.... could this actually cause them a problem?

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Glibly and shamelessly lying to a judge in court:confused:

Nah, they'll be fine.

Any one can be confused over whether they have handed over £5m or not.

[CropleyWasGod]

Thise of you with a better idea.... could this actually cause them a problem?

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Think someone would have to make a complaint.

Even at that, who was the perjurer? I would say the solicitor.
It would only be their problem if the solicitor was following orders to say it.

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[Brunswickbill]

http://www.theguardian.com/uk-news/2015/jun/03/andy-coulson-acquittal-when-is-lying-not-perjury
Remember Coulson got away with lying at the Tommy Sheridan trial at his perjury trial because the lying didn't affect the outcome. Seemed odd to me.

[HoboHarry]

Think someone would have to make a complaint.

Even at that, who was the perjurer? I would say the solicitor.
It would only be their problem if the solicitor was following orders to say it.

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As far as I can see the solicitor would have had to have made iit up for him to be at fault. His comment must have come from info given to him surely?

[Just Alf]

Thanks folks..

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[Gordy M]

Is the crime of perjury not 'lying under oath'? Im not 100% sure but dont think lawyers are 'under oath' therefore not subject to perjury?

[kaimendhibs]

Is the crime of perjury not 'lying under oath'? Im not 100% sure but dont think lawyers are 'under oath' therefore not subject to perjury?

Not sure, but they should be!

[CropleyWasGod]

As far as I can see the solicitor would have had to have made iit up for him to be at fault. His comment must have come from info given to him surely?

In which light, I'm not sure there's a case here.

Client gives solicitor duff information. Solicitor repeats it in Court.

Fairly common occurrence, I would have thought. "I wisny there. It wisny me" says accused to solicitor. That's repeated in Court. Court finds that he wis there, and it wis him. Nobody gets done for perjury.

The only reason people are getting aerated about this is because it's them.

[Ozyhibby]

In which light, I'm not sure there's a case here.

Client gives solicitor duff information. Solicitor repeats it in Court.

Fairly common occurrence, I would have thought. "I wisny there. It wisny me" says accused to solicitor. That's repeated in Court. Court finds that he wis there, and it wis him. Nobody gets done for perjury.

The only reason people are getting aerated about this is because it's them.

I agree. Perjury is committed in just about every court case there is and it rarely results in any punishment.


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[Ozyhibby]

http://sport.stv.tv/football/clubs/rangers/1336390-shareholders-must-stump-up-to-fund-rangers-january-deals-says-murray/?utm_source=twitterfeed&utm_medium=twitter




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[Jack]

In which light, I'm not sure there's a case here.

Client gives solicitor duff information. Solicitor repeats it in Court.

Fairly common occurrence, I would have thought. "I wisny there. It wisny me" says accused to solicitor. That's repeated in Court. Court finds that he wis there, and it wis him. Nobody gets done for perjury.

The only reason people are getting aerated about this is because it's them.

I'm sure on the day 2 bit the misleading statement was addressed by someone. Whoever it was said that because the £5m wasn't relevant to the case it didn't count as perjury.

[kaimendhibs]

Is asking your solicitor to
Lie on your behalf perjury?

[Mr White]

http://sport.stv.tv/football/clubs/rangers/1336390-shareholders-must-stump-up-to-fund-rangers-january-deals-says-murray/?utm_source=twitterfeed&utm_medium=twitter



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A cynic might suggest that dave king isn't the only glib and shameless liar in the ibrox boardroom these days after watching Paul Murray's interview there.

[CropleyWasGod]

Is asking your solicitor to
Lie on your behalf perjury?

Solicitors will not lie on behalf of their clients. To do so would be professional misconduct...... a solicitor is an Officer of the Court and as such is not permitted to mislead the court either deliberately or by omission.

From a random Google of solicitor websites.

[Killiehibbie]

Solicitors will not lie on behalf of their clients. To do so would be professional misconduct...... a solicitor is an Officer of the Court and as such is not permitted to mislead the court either deliberately or by omission.

From a random Google of solicitor websites.They do so on a daily basis and to pretend otherwise would be lying.

[kaimendhibs]

Solicitors will not lie on behalf of their clients. To do so would be professional misconduct...... a solicitor is an Officer of the Court and as such is not permitted to mislead the court either deliberately or by omission.

From a random Google of solicitor websites.
Cheers. Must be a mistake then😂😂

[Ozyhibby]

http://linkis.com/wordpress.com/jpuFq


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[Jpdhfc]

[QUOTE=Ozyhibby;4524754]http://linkis.com/wordpress.com/jpuFq

Great piece this we as fans need to put pressure on our clubs to ask questions.

[flash]

It's definately time to focus our attention on the people who run Scottish football instead of this relentless campaign to grind The Rangers into the ground.

[Kojock]

Simply put a person commits perjury when they wilfully and unequivocally make a false statement while giving evidence in any judicial proceedings, this may be by way of oath or affirmation. Essentially a person must make a statement that they know to be false and it must be made according to their will (i.e. someone who makes a statement that turns out to be false recklessly or unkowingly would not have committed perjury.

No way the Solicitor could be done for perjury.

[bingo70]

It's definately time to focus our attention on the people who run Scottish football instead of this relentless campaign to grind The Rangers into the ground.

Be great if we could do both

[Bostonhibby]

Be great if we could do both
It's possible,and you can still find time to make it awkward for the yam to bury their murky past as well

[Jim44]

On FF, they're discussing the pace of progress and how there might not be the huge amount of money for players in January which King promised. They keep questioning the £30m pound warchest etc. but nobody over there has even questioned whether King could take £30m oe even less out of Sth. Africa.

[ano hibby]

On FF, they're discussing the pace of progress and how there might not be the huge amount of money for players in January which King promised. They keep questioning the £30m pound warchest etc. but nobody over there has even questioned whether King could take £30m oe even less out of Sth. Africa.

Over the last 5 years the Rand has gone from 10 to the £ to 22.5 so whatever his wealth was it is now more than 50% less in £ terms.

[Jim44]

Over the last 5 years the Rand has gone from 10 to the £ to 22.5 so whatever his wealth was it is now more than 50% less in £ terms.

Who knows what he has in real cash and where it's stashed? However, nobody has really clarified whether he can take cash out of SA or not. Can he?

What is pleasing is that a couple of months ago, the muppets were cockahoop about everything, great manager, great team and knights in shining armour throwing cash at Warburton in January but some are beginning to have doubts and they are starting to argue among themselves about their situation. Cracks in the dam and all that.

[NAE NOOKIE]

http://sport.stv.tv/football/clubs/rangers/1336390-shareholders-must-stump-up-to-fund-rangers-january-deals-says-murray/?utm_source=twitterfeed&utm_medium=twitter




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Pretty clear from that interview that Dave Kings millions are gonna remain Dave Kings millions, Murray said what King had actually meant was investing 20 million over a long 'unspecified' period .... talk about being vague. When he said over invest, he obviously meant the fans.

If I was a Currant Bun I would be decidedly underwhelmed by what Murray had to say, from where they were going to get money from to see out the season, to Warburton's January war chest ...... Murray was tepid & lukewarm on every subject.

The man obviously doesn't get irony. In the same breath as he was saying "we have to listen to the fans" he said the stripping of titles was not an option as far as Sevco are concerned ...... tell ya what mate, why don't you ask the fans you are suddenly so keen to have listened to and see what they have to say about it.

I wonder why he was at Netherdale, I hope the Huns aren't looking for a ground share with Gala Fairydean Rovers when Ibrox gets repossessed or falls down.

[Jim44]

Who knows what he has in real cash and where it's stashed? However, nobody has really clarified whether he can take cash out of SA or not. Can he?





(i) A tax-payer in good standing and over the age of 18 years, can invest up to R10 million in his/her name outside the Common Monetary Area (CMA-Lesotho, Swaziland and Namibia), per calendar year. A Tax Clearance Certificate (in respect of foreign investments) must be obtained. These funds may not be reinvested into the CMA countries thereby creating a loop structure or be re-introduced as a loan to a CMA resident. (ii) In addition, up to R1 million, within the single discretionary allowance facility, can be transferred abroad, without the requirement to obtain a Tax Clearance Certificate.


10m rand is less than £500,000. In any case, the first sentance disqualifies King from moving significant cash abroad. I don't mean to harp on about this, but a lot of the muppets think that King is keeping his powder dry before coming up with his 'over-investment'. By not divulging their warchest funds they think other clubs will not ask for extortionate money for all the stars they are going to buy in January and summer. They're in for a big disappointment.

[Ozyhibby]

(i) A tax-payer in good standing and over the age of 18 years, can invest up to R10 million in his/her name outside the Common Monetary Area (CMA-Lesotho, Swaziland and Namibia), per calendar year. A Tax Clearance Certificate (in respect of foreign investments) must be obtained. These funds may not be reinvested into the CMA countries thereby creating a loop structure or be re-introduced as a loan to a CMA resident. (ii) In addition, up to R1 million, within the single discretionary allowance facility, can be transferred abroad, without the requirement to obtain a Tax Clearance Certificate.


10m rand is less than £500,000. In any case, the first sentance disqualifies King from moving significant cash abroad. I don't mean to harp on about this, but a lot of the muppets think that King is keeping his powder dry before coming up with his 'over-investment'. By not divulging their warchest funds they think other clubs will not ask for extortionate money for all the stars they are going to buy in January and summer. They're in for a big disappointment.

King's deal with the South African tax people also compelled him to repatriate all of his assets back to SA in order to avoid 82 years in jail. Can't see them letting him take cash out now.


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[Deansy]

http://sport.stv.tv/football/clubs/rangers/1336390-shareholders-must-stump-up-to-fund-rangers-january-deals-says-murray/?utm_source=twitterfeed&utm_medium=twitter




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'Is the money there for Mark Warburton in the January transfer-window ?' - 3 minutes and 8 seconds later - 'There is a WILLINGNESS to fund Mark should he decide he needs to add to the squad'
Bit of a slow drift from the 'over-investment' days, eh ??

Anyway, must go as I have a WILLINGNESS to win tonight's lottery and to do that, I need to go get the money out to buy the tickets ........

[Bostonhibby]

Pretty clear from that interview that Dave Kings millions are gonna remain Dave Kings millions, Murray said what King had actually meant was investing 20 million over a long 'unspecified' period .... talk about being vague. When he said over invest, he obviously meant the fans.

If I was a Currant Bun I would be decidedly underwhelmed by what Murray had to say, from where they were going to get money from to see out the season, to Warburton's January war chest ...... Murray was tepid & lukewarm on every subject.

The man obviously doesn't get irony. In the same breath as he was saying "we have to listen to the fans" he said the stripping of titles was not an option as far as Sevco are concerned ...... tell ya what mate, why don't you ask the fans you are suddenly so keen to have listened to and see what they have to say about it.

I wonder why he was at Netherdale, I hope the Huns aren't looking for a ground share with Gala Fairydean Rovers when Ibrox gets repossessed or falls down.

It's an interesting point so I looked up the world authority on definitions, lies and exaggerated numbers - the Hibs.net Yamasauras but even allowing for the similarities between the clubs there wasn't anything helpful so I am going to take a stab at the definition here and say that a long unspecified period = at least 20 million years.

So he wasn't lying.

[Jack]

They won't be buying anyone in January if what I hear is correct.

They are going straight to liquidation and there will be no The The Rangers.

[Bostonhibby]

They won't be buying anyone in January if what I hear is correct.

They are going straight to liquidation and there will be no The The Rangers.

:confused: So there will be another phoenix club called The The The Rangers? :greengrin

Obviously they will be a brand new debt free one but the SPFL will allow them to retain all the honours won by the now defunct Glasgow rangers and The rangers(?) whilst simultaneously reassuring us that all the sectarian bile has gone away?

The new off the radar wealth owner will be Donald Trump.

[Moulin Yarns]

:confused: So there will be another phoenix club called The The The Rangers? :greengrin

Obviously they will be a brand new debt free one but the SPFL will allow them to retain all the honours won by the now defunct Glasgow rangers and The rangers(?) whilst simultaneously reassuring us that all the sectarian bile has gone away?

The new off the radar wealth owner will be Donald Trump.

The only thing that would make sense in all that is the Donald buying the club, and banning muslims from signing

[southern hibby]

Heard a rumour and it is probably bull but here goe's anyway...

The Rangers did raise the 5 Million to pay of SD, but just before they went to pay it a Mr Green put a spanner in the works by lodging an appeal against a court case that went against him.

The Rangers have had to keep back £400,000 legal fees plus another £100,000 for the appeal fees in case it's over turned.
The other £4.5 million will then be set aside for Mr greens fee's if he wins.

Now I'm not sure about these figures etc but the person telling me is adamant its gospel. Also said that The Rangers will listen to all offers for players in January because they need to get wages down.
GGTTH

[Deansy]

They won't be buying anyone in January if what I hear is correct.

They are going straight to liquidation and there will be no The The Rangers.

That would explain their media talking (so very, very much) of increasing the SPL to 14 - 25 pts deduction for admin would still see the Hun qualify for at least the play-offs wouldn't it ?

[Onion]

'Is the money there for Mark Warburton in the January transfer-window ?' - 3 minutes and 8 seconds later - 'There is a WILLINGNESS to fund Mark should he decide he needs to add to the squad'
Bit of a slow drift from the 'over-investment' days, eh ??

Anyway, must go as I have a WILLINGNESS to win tonight's lottery and to do that, I need to go get the money out to buy the tickets ........

Maybe Celtic will throw them some change to speed their return to the OF duopoly ?

[Famous Fiver]

Liquidation is a big call but makes sense to ditch the debt (again) but surely means that they cannot start again as the same club unless there is more SFA/SPFL fancy footwork.

In any case reconstruction surely cannot be in place for next season, so they could be looking at yet another season in Championship unless they overcome the 25 point deduction (if they are the same club), or they are back to bottom tier again, which should mean Lowland League, never mind Div 3.

Interesting times unless King or some of his cohorts suddenly come up with wads of cash. Mr Ashley, anyone...................?

[CropleyWasGod]

Liquidation is a big call but makes sense to ditch the debt (again) but surely means that they cannot start again as the same club unless there is more SFA/SPFL fancy footwork.

In any case reconstruction surely cannot be in place for next season, so they could be looking at yet another season in Championship unless they overcome the 25 point deduction (if they are the same club), or they are back to bottom tier again, which should mean Lowland League, never mind Div 3.

Interesting times unless King or some of his cohorts suddenly come up with wads of cash. Mr Ashley, anyone...................?


They don't have a lot of debt, all of which would be adequately covered by the assets. In that light, I think liquidation is unlikely.



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[CropleyWasGod]

That would explain their media talking (so very, very much) of increasing the SPL to 14 - 25 pts deduction for admin would still see the Hun qualify for at least the play-offs wouldn't it ?
Not sure it would. At one point last season a 25 point penalty would have put them on the edge of the relegation play offs.

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[Famous Fiver]

CWG

When I was talking about writing off debt I was meaning potential liabilities for all the cases pending. Am I right in saying that none of these potential liabilities would be met if verdicts went against them? Surely liquidation would make sense given that scenario?

[Ozyhibby]

They don't have a lot of debt, all of which would be adequately covered by the assets. In that light, I think liquidation is unlikely.



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Funding an admin would be a long term affair would it not if these assets ownership is in dispute?


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[Jack]

They don't have a lot of debt, all of which would be adequately covered by the assets. In that light, I think liquidation is unlikely.



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I think my friend was suggesting they don't have enough money to keep the lights on and nobody left to bail them out. Also that there's nobody out there willing to take them on. Maybe!

[Thecat23]

Without scrolling through about a million posts what is happening?

I notice this thread is alway floating around the top of the page yet there is nothing on the news about them. I don't read the red tops either.

The Rangers aren't going bust anytime soon according to many so just wondering why this is still ongoing?

Or maybe I should stop being lazy and just read it 😁

[CropleyWasGod]

Funding an admin would be a long term affair would it not if these assets ownership is in dispute?


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If the assets ownership is in dispute, all the more reason for administration rather than liquidation. At least, in administration, there is a chance of saving the business.

As for funding, RFC are still a potentially viable business who could probably fund an administration themselves in the short term .

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[CropleyWasGod]

CWG

When I was talking about writing off debt I was meaning potential liabilities for all the cases pending. Am I right in saying that none of these potential liabilities would be met if verdicts went against them? Surely liquidation would make sense given that scenario?
The debts wouldn't be written off, though. If the assets were sold in a liquidation, the debts would more than likely be paid off.

There would be no business, though, unless the assets were sold to someone who wanted to run a football club. So I am not sure it's in the club's interest.

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[CropleyWasGod]

Without scrolling through about a million posts what is happening?

I notice this thread is alway floating around the top of the page yet there is nothing on the news about them. I don't read the red tops either.

The Rangers aren't going bust anytime soon according to many so just wondering why this is still ongoing?

Or maybe I should stop being lazy and just read it 😁
Who are these people that say that? What are their names?

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[Thecat23]

Who are these people that say that? What are their names?

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Wee Davy down the local.

Malcolm who collects the trollies up Morrisons.

Colin who lives few doors down the road from me.

I'd give you their numbers as well but I'm not sure they won't to speak to a stranger!!

[CropleyWasGod]

Wee Davy down the local.

Malcolm who collects the trollies up Morrisons.

Colin who lives few doors down the road from me.

I'd give you their numbers as well but I'm not sure they won't to speak to a stranger!!
****, you've got me there.

Okay, against that argument, I'm out.

[emoji6]

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[Ozyhibby]

http://www.philmacgiollabhain.ie/an-ecumenical-matter/


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[CropleyWasGod]

http://www.philmacgiollabhain.ie/an-ecumenical-matter/


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Simple answer to that question.

"Current liabilities " are those that are payable within 12 months.
As I understand it, the SD loan had no set repayment period.

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[Brunswickbill]

If the assets ownership is in dispute, all the more reason for administration rather than liquidation. At least, in administration, there is a chance of saving the business.

As for funding, RFC are still a potentially viable business who could probably fund an administration themselves in the short term .

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It will be interesting to see what happens to the securities over Sevco properties currently held by SD and which will be released as/when/if the £5M loan is repaid. Will they be held by Sevco or will they be held by “Rangers minded people?” It may be that that people putting up the cash to repay the loan may want these as security. Could this also afford protection of the assets if trusted individuals have security on them ring-fencing them from any future administration? I’d be interested to hear from people who know about such things. But no doubt the SMSM will be closely monitoring such things and will keep us fully informed.

[Ozyhibby]

Simple answer to that question.

"Current liabilities " are those that are payable within 12 months.
As I understand it, the SD loan had no set repayment period.

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That is certainly how they presented it before, in fact I'm sure Dave King once questioned if it ever needed paid back. Now, however, there seems to be a mad rush to get it paid back when they do not have enough cash on hand to finish the season and getting their hands on the money is obviously proving difficult. Is it possible they mislead their auditor about the nature of the loan?


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[CropleyWasGod]

That is certainly how they presented it before, in fact I'm sure Dave King once questioned if it ever needed paid back. Now, however, there seems to be a mad rush to get it paid back when they do not have enough cash on hand to finish the season and getting their hands on the money is obviously proving difficult. Is it possible they mislead their auditor about the nature of the loan?


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The auditors would have seen the loan agreement. If it's the same one that I saw (albeit a Twitter version) I wouldn't have classed it as a Current Liability.

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[brog]

Simple answer to that question.

"Current liabilities " are those that are payable within 12 months.
As I understand it, the SD loan had no set repayment period.

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The question is then, why are they paying it now? And if it has no set repayment period but is payable on demand, say 1 month notice, then it should still be in current liabilities. Even if it's in long term liabilities would there not have to be notes to the a/c's stating the terms of the loan?

[CropleyWasGod]

It will be interesting to see what happens to the securities over Sevco properties currently held by SD and which will be released as/when/if the £5M loan is repaid. Will they be held by Sevco or will they be held by “Rangers minded people?” It may be that that people putting up the cash to repay the loan may want these as security. Could this also afford protection of the assets if trusted individuals have security on them ring-fencing them from any future administration? I’d be interested to hear from people who know about such things. But no doubt the SMSM will be closely monitoring such things and will keep us fully informed.
If I were lending the club money to repay a secured debt, I would sure as **** want the same security. That would at least give me preference in an administration.

However, the implication in the various pronouncements is that those loans would be soft and unsecured. If that's the case.....and, given some of the strange commercial decisions made over the past few years, I wouldn't be surprised. .....there would be none of the protection that you mention.

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[Ozyhibby]

It will be interesting to see what happens to the securities over Sevco properties currently held by SD and which will be released as/when/if the £5M loan is repaid. Will they be held by Sevco or will they be held by “Rangers minded people?” It may be that that people putting up the cash to repay the loan may want these as security. Could this also afford protection of the assets if trusted individuals have security on them ring-fencing them from any future administration? I’d be interested to hear from people who know about such things. But no doubt the SMSM will be closely monitoring such things and will keep us fully informed.

The intellectual property won't return to Sevco. That will go to Rangers Retail which is 50% owned by SD.


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[Brunswickbill]

Without scrolling through about a million posts what is happening?

I notice this thread is alway floating around the top of the page yet there is nothing on the news about them. I don't read the red tops either.

The Rangers aren't going bust anytime soon according to many so just wondering why this is still ongoing?

Or maybe I should stop being lazy and just read it 

For your edification and seeing that I haven’t been invited to take part in a boozy Black Friday, here’s some of the future action.....

Ashley is suing SEVCO for damages for breaching the confidentiality clause in £5M loan agreement

Ashley is taking SFA to court for judicial review of King being a fit and proper person.

Green is appealing against the rejection of his claim that SEVCO should pay his legal expenses in the trial for his fraudulently acquiring Rangers OLDCO

Green and Whyte on trial for fraudulently acquiring OLDCO

Worthington Group/ Law Financial have stated that they have a claim on Sevco assets

Employment tribunal by a number of former Rangers players for holiday pay could be 5/6 figure sum

All of these could have financial / legal implications for SEVCO/RIPFC. On top of that King and the Board say they have managed to scrape together £5m to repay the loan to Sports Direct which they said they had intention of repaying at the EGM earlier this year. They also have to find £2.5M to keep the lights on. So there is a continuing legal and financial vortex with SEVCO in the middle and no one can be sure what the eventual outcome will be. You should follow this thread, it’s got a more exciting story line than Eastenders, although the cast of Eastenders are better looking.

[bingo70]

For your edification and seeing that I haven’t been invited to take part in a boozy Black Friday, here’s some of the future action.....

Ashley is suing SEVCO for damages for breaching the confidentiality clause in £5M loan agreement

Ashley is taking SFA to court for judicial review of King being a fit and proper person.

Green is appealing against the rejection of his claim that SEVCO should pay his legal expenses in the trial for his fraudulently acquiring Rangers OLDCO

Green and Whyte on trial for fraudulently acquiring OLDCO

Worthington Group/ Law Financial have stated that they have a claim on Sevco assets

Employment tribunal by a number of former Rangers players for holiday pay could be 5/6 figure sum

All of these could have financial / legal implications for SEVCO/RIPFC. On top of that King and the Board say they have managed to scrape together £5m to repay the loan to Sports Direct which they said they had intention of repaying at the EGM earlier this year. They also have to find £2.5M to keep the lights on. So there is a continuing legal and financial vortex with SEVCO in the middle and no one can be sure what the eventual outcome will be. You should follow this thread, it’s got a more exciting story line than Eastenders, although the cast of Eastenders are better looking.

Thanks for the summary bill

[CropleyWasGod]

For your edification and seeing that I haven’t been invited to take part in a boozy Black Friday, here’s some of the future action.....

Ashley is suing SEVCO for damages for breaching the confidentiality clause in £5M loan agreement

Ashley is taking SFA to court for judicial review of King being a fit and proper person.

Green is appealing against the rejection of his claim that SEVCO should pay his legal expenses in the trial for his fraudulently acquiring Rangers OLDCO

Green and Whyte on trial for fraudulently acquiring OLDCO

Worthington Group/ Law Financial have stated that they have a claim on Sevco assets

Employment tribunal by a number of former Rangers players for holiday pay could be 5/6 figure sum

All of these could have financial / legal implications for SEVCO/RIPFC. On top of that King and the Board say they have managed to scrape together £5m to repay the loan to Sports Direct which they said they had intention of repaying at the EGM earlier this year. They also have to find £2.5M to keep the lights on. So there is a continuing legal and financial vortex with SEVCO in the middle and no one can be sure what the eventual outcome will be. You should follow this thread, it’s got a more exciting story line than Eastenders, although the cast of Eastenders are better looking.
You were doing so well until the last sentence.

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[Libby Hibby]

So is the game being played here by Sevco, to make out that MA wants his £5m loan back, when really he doesn't or the loan agreement doesn't say it needs to be paid so if the current board of directors decide to pull the plug (in the background as things are getting so bad), they have a big bad wolf to blame? So to speak?

[Weststandwanab]

Simple answer to that question.

"Current liabilities " are those that are payable within 12 months.
As I understand it, the SD loan had no set repayment period.

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What if they were repayable "on demand" ?

[CropleyWasGod]

So is the game being played here by Sevco, to make out that MA wants his £5m loan back, when really he doesn't or the loan agreement doesn't say it needs to be paid so if the current board of directors decide to pull the plug (in the background as things are getting so bad), they have a big bad wolf to blame? So to speak?
That's part of the intrigue:)

Arguably, it's in SDs interests to have the loan remain unpaid. And RFC know that. And I'm not sure that the "paperwork " that is being talked about will actually be finalised.

As for blaming SD, I reckon that's bang on.

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[CropleyWasGod]

What if they were repayable "on demand" ?
It's not, though, according to the version doing the rounds on Twitter.



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[bingo70]

That's part of the intrigue:)

Arguably, it's in SDs interests to have the loan remain unpaid. And RFC know that. And I'm not sure that the "paperwork " that is being talked about will actually be finalised.

As for blaming SD, I reckon that's bang on.

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What's the story with Ashley's merchandise deal? He gets a high percentage of any Rangers merchandise bought doesn't he? I assumed once the £5m was paid back he'd lose that deal, is that not the case?

Sorry, so many questions!

[CropleyWasGod]

What's the story with Ashley's merchandise deal? He gets a high percentage of any Rangers merchandise bought doesn't he? I assumed once the £5m was paid back he'd lose that deal, is that not the case?

Sorry, so many questions!
The deal has, apparently, a 7 year notice period. That notice can only be given when the loan is paid back :)

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[Ozyhibby]

What's the story with Ashley's merchandise deal? He gets a high percentage of any Rangers merchandise bought doesn't he? I assumed once the £5m was paid back he'd lose that deal, is that not the case?

Sorry, so many questions!

While the loan remains unpaid he gets 75% of any profits of Rangers Retail.
It reverts back to 50% after its paid back.
That's not what makes it such a bad deal though. Rangers retail can only buy stock from SD and they charge RR like a wounded bull.
There is a 7 year notice period that can't be handed in until the £5m is paid back.


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[Brunswickbill]

While the loan remains unpaid he gets 75% of any profits of Rangers Retail.
It reverts back to 50% after its paid back.
That's not what makes it such a bad deal though. Rangers retail can only buy stock from SD and they charge RR like a wounded bull.
There is a 7 year notice period that can't be handed in until the £5m is paid back.


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According to the Guardian, Rangers transfered 26% of its holding in Rangers Retail Ltd (RRL). RRL is a joint venture set up by the club and Sports Direct, with Rangers in control of 51% and SD controlling the rest. As part of the new loan deal, the club also agreed that from the 2017-18 season, for the duration of the loan, any future shirt sponsorship proceeds “will be for the benefit of RRL”.

http://www.theguardian.com/football/2015/jan/27/rangers-10-million-loan-mike-ashley-sport-direct

[Ozyhibby]

According to the Guardian, Rangers transfered 26% of its holding in Rangers Retail Ltd (RRL). RRL is a joint venture set up by the club and Sports Direct, with Rangers in control of 51% and SD controlling the rest. As part of the new loan deal, the club also agreed that from the 2017-18 season, for the duration of the loan, any future shirt sponsorship proceeds “will be for the benefit of RRL”.

http://www.theguardian.com/football/2015/jan/27/rangers-10-million-loan-mike-ashley-sport-direct

Maybe they are worried Mike would put '****** KING' on the jerseys?http://images.tapatalk-cdn.com/15/12/18/88bf17357a5c67ea22749aca67b70004.jpg


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[Ozyhibby]

http://www.dailyrecord.co.uk/opinion/sport/hotline/sports-hotline-rangers-fans-being-7035297


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[1875godsgift]

[QUOTE=Ozyhibby;4525462]http://www.dailyrecord.co.uk/opinion/sport/hotline/sports-hotline-rangers-fans-being-7035297


the the rangers fans are revolting.....

😷

[Springbank]

Before I wish Falkirk all the best for today (fwiw I think The Bairns will beat The The by 2-0) just remembered one further potential court case that could have serious damage for the The The board members. Easdale taking them to court to challenge the electoral process for recent EGM decisions ie saying his shareholding was denied a vote illegally.
Sounds dry and technical but if he challenges and wins then the whole board may be banned from holding any UK directorships for a period, ie overnight they'd all be out on their erchie, with no board to run the crumbling ship.
Good luck to him.
And to Falkirk today.

[greenginger]

While the loan remains unpaid he gets 75% of any profits of Rangers Retail.
It reverts back to 50% after its paid back.
That's not what makes it such a bad deal though. Rangers retail can only buy stock from SD and they charge RR like a wounded bull.
There is a 7 year notice period that can't be handed in until the £5m is paid back.


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Also the fact that Sports Direct shares in Rangers Retail are Class A shares and RFC shares are Class B shares.

Class A shares have 2 votes each on all " financial matters " and Class B shares only have 1 vote.

Even when the loan is repaid ,and the share holding temporarily transferred to SD is returned to RFC , Ashley will still have control of all financial matters of Rangers Retail.

However Rangers F C will be able to decide where their office Christmas party is held ! :greengrin

[Brunswickbill]

Also the fact that Sports Direct shares in Rangers Retail are Class A shares and RFC shares are Class B shares.

Class A shares have 2 votes each on all " financial matters " and Class B shares only have 1 vote.

Even when the loan is repaid ,and the share holding temporarily transferred to SD is returned to RFC , Ashley will still have control of all financial matters of Rangers Retail.

However Rangers F C will be able to decide where their office Christmas party is held ! :greengrin

With the current boycott of sports goods by fans SD may actually make more money if the loan is repaid and fans start to buy again despite their share of revenue being reduced.

JJ / PMcG also make reference to possible concert party activity at the hostile takeover. I don't know if there is anything in this but you can be sure that MA's lawyers will be all over it.

[grunt]

JJ / PMcG also make reference to possible concert party activity at the hostile takeover. I don't know if there is anything in this but you can be sure that MA's lawyers will be all over it.Not been hugely impressed with MA's lawyers so far. Thought their performance at the recent hearing was very poor.

[HoboHarry]

JJ's latest blog, maybe someone can put it into lay-men's terms....

https://johnjamessite.wordpress.com/

[jacomo]

JJ's latest blog, maybe someone can put it into lay-men's terms....

https://johnjamessite.wordpress.com/

My take on it is that he is neither a Rangers man nor particularly well-informed. He is now claiming to be a shareholder, which I think is new - and unlikely. The rest is speculation and gossip.

[Ozyhibby]

http://m.heraldscotland.com/sport/14157967.Fast_tracking_faltering_Rangers_into_the_ Premiership_not_just_a_wild_fantasy/?ref=rss&utm_source=twitterfeed&utm_medium=twitter

Hard to know where to begin with this.


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[livi hibs 1875]

Can't read it all, can you give a short version

[jacomo]

http://m.heraldscotland.com/sport/14157967.Fast_tracking_faltering_Rangers_into_the_ Premiership_not_just_a_wild_fantasy/?ref=rss&utm_source=twitterfeed&utm_medium=twitter

Hard to know where to begin with this.

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I support an expanded league, but it seems the SPFL only get going with it because they are worried about Sevco.

If they rush it through before the start of next season, it will be botched.

[Monts]

http://m.heraldscotland.com/sport/14157967.Fast_tracking_faltering_Rangers_into_the_ Premiership_not_just_a_wild_fantasy/?ref=rss&utm_source=twitterfeed&utm_medium=twitter

Hard to know where to begin with this.


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Ive read that article from start to finish and I struggle to see what the actual point of it is.

It just lazily meanders through some topics, as if it was a half cut old ger in a pub monologuing to anyone that might be paying attention.

[Northern Hibby]

Over on bears den they have started our match day thread already :-D

[Deansy]

[QUOTE=livi hibs 1875;4527701]Can't read it all, can you give a short version[/QUOtaken'

NOBODY at Rangers, not the manager, not the players, not the supporters and not the directors, wants the Ibrox club to be simply handed a place in the Premiership next summer as a result of some hastily-arranged league reconstruction.

But if Mark Warburton’s side fails to secure promotion this season – a fate that is, given their decidedly patchy form of recent weeks, now not inconceivable – is it really so implausible?

Peter Houston, the Falkirk manager, may have been making mischief when he suggested the top flight would be expanded if Rangers and Hibs failed to go up at the end of the 2015/16 campaign. There may, though, have been more truth in his words than he realised.


Scotland’s leading clubs could quite easily continue for another season without Rangers. They have done so for over three years now without, as so many had predicted they would, imploding. A fair few of them, in fact, have positively flourished.

Inverness Caledonian Thistle, for example, posted a record profit of £254,240 earlier this year. That figure, too, did not include the takings from their Scottish Cup final victory or the sale of Ryan Christie to Celtic for £500,000. Financial Armageddon? Not really.

But it is not at all difficult to sense a growing desire for a return to normality in boardrooms across the land. Peter Lawwell, the Celtic chief executive, has estimated the absence of Rangers from the top flight costs his side £10 million a season. Stewart Milne, the Aberdeen chairman and owner, has openly expressed the desire to see all of the top clubs in the top division. Clubs have grown weary of simply getting by.

The impact that Rangers coming up would have would be considerable. The money accrued from broadcasting, season ticket sales, gate receipts, sponsorship and hospitality would all increase significantly. That would, in turn, improve the quality of the product.

It is the repercussions that remaining in the second tier will have on the finances of the Ibrox club, however, which may be of more concern to those charged with balancing the books at the likes of Aberdeen, Celtic and Hearts.

Dave King admitted at the Rangers AGM last month that their current business plan – wealthy supporters offsetting sizeable losses with loans which will be converted into equity at some point in the future – is unsustainable going forward. There is a limit to their benefactors’ benevolence.

Yet, if Rangers remain in the Championship for another season the chances they will continue to operate at a loss. So somebody somewhere will have to come up with the funds needed to keep the club afloat.

The repayment of the £5 million Sports Direct loan may result in Mike Ashley adopting a less confrontational approach in his dealings with the club. But the English billionaire is mercurial. There is no guarantee he will be prepared to renegotiate a retail deal which is, by all accounts, weighted heavily in his favour.

It is unlikely Rangers will, despite their increased crowds, be able to live within their means playing their league football against the likes of Alloa, Dumbarton, and Queen of the South while banking negligible sums from the sales of their official merchandise.

The prospect of Rangers suffering more difficulties and hardship may be too much for their counterparts to bear. Radical action could very well be taken'

It's just yet another article of a 'Rushed expanded SPL' that the media are currently using in a 'Drip-drip' style so supporters get used to the idea. The GFA, media but most especially, the Hun, are petrified that we win this league. I hope Hibs start 'Drip-dripping'to the media that our opinion is 'Fxxk-off' to this idea !!

[Cropley10]

[QUOTE=livi hibs 1875;4527701]Can't read it all, can you give a short version[/QUOtaken'

NOBODY at Rangers, not the manager, not the players, not the supporters and not the directors, wants the Ibrox club to be simply handed a place in the Premiership next summer as a result of some hastily-arranged league reconstruction.

But if Mark Warburton’s side fails to secure promotion this season – a fate that is, given their decidedly patchy form of recent weeks, now not inconceivable – is it really so implausible?

Peter Houston, the Falkirk manager, may have been making mischief when he suggested the top flight would be expanded if Rangers and Hibs failed to go up at the end of the 2015/16 campaign. There may, though, have been more truth in his words than he realised.


Scotland’s leading clubs could quite easily continue for another season without Rangers. They have done so for over three years now without, as so many had predicted they would, imploding. A fair few of them, in fact, have positively flourished.

Inverness Caledonian Thistle, for example, posted a record profit of £254,240 earlier this year. That figure, too, did not include the takings from their Scottish Cup final victory or the sale of Ryan Christie to Celtic for £500,000. Financial Armageddon? Not really.

But it is not at all difficult to sense a growing desire for a return to normality in boardrooms across the land. Peter Lawwell, the Celtic chief executive, has estimated the absence of Rangers from the top flight costs his side £10 million a season. Stewart Milne, the Aberdeen chairman and owner, has openly expressed the desire to see all of the top clubs in the top division. Clubs have grown weary of simply getting by.

The impact that Rangers coming up would have would be considerable. The money accrued from broadcasting, season ticket sales, gate receipts, sponsorship and hospitality would all increase significantly. That would, in turn, improve the quality of the product.

It is the repercussions that remaining in the second tier will have on the finances of the Ibrox club, however, which may be of more concern to those charged with balancing the books at the likes of Aberdeen, Celtic and Hearts.

Dave King admitted at the Rangers AGM last month that their current business plan – wealthy supporters offsetting sizeable losses with loans which will be converted into equity at some point in the future – is unsustainable going forward. There is a limit to their benefactors’ benevolence.

Yet, if Rangers remain in the Championship for another season the chances they will continue to operate at a loss. So somebody somewhere will have to come up with the funds needed to keep the club afloat.

The repayment of the £5 million Sports Direct loan may result in Mike Ashley adopting a less confrontational approach in his dealings with the club. But the English billionaire is mercurial. There is no guarantee he will be prepared to renegotiate a retail deal which is, by all accounts, weighted heavily in his favour.

It is unlikely Rangers will, despite their increased crowds, be able to live within their means playing their league football against the likes of Alloa, Dumbarton, and Queen of the South while banking negligible sums from the sales of their official merchandise.

The prospect of Rangers suffering more difficulties and hardship may be too much for their counterparts to bear. Radical action could very well be taken'

It's just yet another article of a 'Rushed expanded SPL' that the media are currently using in a 'Drip-drip' style so supporters get used to the idea. The GFA, media but most especially, the Hun, are petrified that we win this league. I hope Hibs start 'Drip-dripping'to the media that our opinion is 'Fxxk-off' to this idea !!

Rangers being back in the top flight means that the nightmare is over, everyone can get get back to obsessing over two teams, how things used to be and pretty much have been for decades, or more.

The only problem, and this is the best bit, is that Rangers won't significantly increase they're income in the Premiership, but, they will have much higher expectations. They have legal problems coming out of their ears, a liar, who is skint as a Chairman and a balance sheet that is still too expense heavy.

They might be forced back into a top flight but it won't be the end of their problems

[Onion]

......"It is the repercussions that remaining in the second tier will have on the finances of the Ibrox club, however, which may be of more concern to those charged with balancing the books at the likes of Aberdeen, Celtic and Hearts." .....

The Huns and their media buddies STIILL don't get it, blinded by their own self importance and sense of entitlement.

It's patently clear that 99% of fans of other clubs believe that integrity and fair competition are FAR more important to the game than a few extra blue pounds that will do little to improve the overall quality of the product on the park. Yet here we have Sevco spokesmen pleading to other club Boards to help them out if they fail to win the league. No contrition, no acceptance of previous misdemeanours, no apologies for their financial doping - just their usual threats, arrogance and warnings of Armageddon if the status quo does not get restored quickly. Thought that Myth had already been put to bed !

[Ozyhibby]

Watching Sportscene last night it's clear that hurting Sevco also hurts Celtic. There were a lot of empty seats at Parkhead on Saturday.
Nice. [emoji3]


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[Onion]

Watching Sportscene last night it's clear that hurting Sevco also hurts Celtic. There were a lot of empty seats at Parkhead on Saturday.
Nice. [emoji3]


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The Lesser Greens have been treading water for the last 3 years, relishing their easy league wins and CL windfalls but that novelty is now wearing off. Without the Huns, the Celtic proposition is busted and boring to many of their fans and vice versa. Crowds of 20-30k should be their norm.

Scottish football has been a freak show for decades because of the OF but the world has moved on. It's genuinely come as a shock to them that football doesn't revolve around them, no one misses the old Rangers and that fair competition is more appealing than a doped up Duopoly. Who would have thought it ?

[fat freddy]

The Herald article is utterly embarrassing, the main thrust being that Sevco be promoted regardless of their position in the league at the end of the season. Only in Scotland could such unsportsmanlike comment be suggested without an outraged reaction from all within the football fraternity. Unashamably the article's author states that finances should determine which team should be promoted, apparantly Celtic lose £10 million per year without their rivals presence in the top division and for that reason we should change the way we promote clubs, Sevco must be promoted purely because they are a big club in the author's view, Leeds Utd fans take note, if this halfwits ideas are rolled out across the world you will be replacing Bournemouth in The EPL next season, merit, sportsmanship, good governance and fair play are thrown out of the window to be replaced by leagues based upon the size of a clubs fanbase and the potential financial rewards those clubs can generate....I think The Hun bottle is crashing and their apologists will be trotting out more of this drivel in the coming months, they are shameless.

[The Leith Dutch]

[QUOTE=livi hibs 1875;4527701]
The repayment of the £5 million Sports Direct loan may result in Mike Ashley adopting a less confrontational approach in his dealings with the club. But the English billionaire is mercurial. There is no guarantee he will be prepared to renegotiate a retail deal which is, by all accounts, weighted heavily in his favour.

I know they're hard of thinking when it comes to sevco but some of this stuff genuinely gobsmacks me.

There was a link to one of the sevco forums posted where they were discussing our January transfer targets and several of the comments were a completely unironic "Hibs will do anything to stop us winning the league".

Then you have the line in bold above where a journalist seems to think that a businessman would even for a second consider renegociating a business deal that is clearly in his favour.

Their entire rancid organisation is crippled with some kind of narcissistic delusion where everyone should choose to act in the best interests of the rangers. Combined with the fact that it sits alongside them absuing everyone else they deal with while chanting "nobody likes us but we don't care" it's enough material for several psychology conferences.

[jacomo]

The true situation is confusing for the hard-of-thinking who believe the following to be true:

1. All was fine until Sir was forced to sell the club to evil-doer Craig Whyte
2. Three seasons in lower leagues was an unfair punishment imposed on a wounded Rangers
3. Rangers is one of the most powerful clubs in the world.

Dave King has played on these myths to his advantage so far, but he's getting unstuck.

[JeMeSouviens]

The Herald article is utterly embarrassing, the main thrust being that Sevco be promoted regardless of their position in the league at the end of the season. Only in Scotland could such unsportsmanlike comment be suggested without an outraged reaction from all within the football fraternity. Unashamably the article's author states that finances should determine which team should be promoted, apparantly Celtic lose £10 million per year without their rivals presence in the top division and for that reason we should change the way we promote clubs, Sevco must be promoted purely because they are a big club in the author's view, Leeds Utd fans take note, if this halfwits ideas are rolled out across the world you will be replacing Bournemouth in The EPL next season, merit, sportsmanship, good governance and fair play are thrown out of the window to be replaced by leagues based upon the size of a clubs fanbase and the potential financial rewards those clubs can generate....I think The Hun bottle is crashing and their apologists will be trotting out more of this drivel in the coming months, they are shameless.

The new Fiorentina were promoted 2 divisions by expansion on their way to Serie A but if you really want to see the cream of corruption have a google for the relegation system they use in Argentina, coincidentally brought in during a season in which River Plate finished 2nd bottom of the top league. :rolleyes:

[Ozyhibby]

http://www.celticquicknews.co.uk/aberdeen-fans-grasping-financial-fundamentals/?utm_source=dlvr.it&utm_medium=twitter


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[gorgie greens]

[QUOTE=Ozyhibby;4527976][url]http://www.celticquicknews.co.uk/aberdeen-fans-grasping-financial-fundamentals/?utm_source=dlvr.it&utm_medium=twitter[/url



The bit about King ,saying the £30 million if he had it to put in wont touch the sides and anything less than £50 million is just throwing money in to a hole.
Unless there is a sugar daddy round the corner with endless supply of money they are a done

[grunt]

BBC running Celtic and Rangers stories and they're not even playing each other.

http://www.bbc.co.uk/sport/0/football/35156881?utm_source=twitterfeed&utm_medium=twitter

[greenginger]

BBC running Celtic and Rangers stories and they're not even playing each other.

http://www.bbc.co.uk/sport/0/football/35156881?utm_source=twitterfeed&utm_medium=twitter


Typical clueless bluenose reporting from Richard Wilson.

second last paragraph, " ..... the ( Rangers ) squad is worth more than its rivals , so ought to be capable of holding off Hibs and Falkirk. "

How the hell does he work out that the Rangers squad is worth more, do they have a single sellable player that would bring in more than Cummings or Mcginn.

Their squad might cost a lot more to run but that has SFA to do with ability.

[Kojock]

Typical clueless bluenose reporting from Richard Wilson.

second last paragraph, " ..... the ( Rangers ) squad is worth more than its rivals , so ought to be capable of holding off Hibs and Falkirk. "

How the hell does he work out that the Rangers squad is worth more, do they have a single sellable player that would bring in more than Cummings or Mcginn.

Their squad might cost a lot more to run but that has SFA to do with ability.

Ludicrous comments from a so called neutral journalist. Can't think of any Hun player I would take as a replacement for any of our players.

[Jack]

Typical clueless bluenose reporting from Richard Wilson.

second last paragraph, " ..... the ( Rangers ) squad is worth more than its rivals , so ought to be capable of holding off Hibs and Falkirk. "

How the hell does he work out that the Rangers squad is worth more, do they have a single sellable player that would bring in more than Cummings or Mcginn.

Their squad might cost a lot more to run but that has SFA to do with ability.

I was going to say lazy journalism looking up us http://www.transfermarkt.co.uk/hibernian-fc/startseite/verein/903

and them http://www.transfermarkt.co.uk/rangers/spielplan/verein/124/saison_id/2015

But that suggests our squad is worth £5.34m and pauper sevco at £4.46m.

It's not even lazy journalism it's more of the usual crap.

Another wee thing to keep in mind is when rangers first went into panic mode it was when we signed Claros from under their noses. Here we are again with every chance of a marque signing while the glib and shameless liar promises so much and produces so little, sorry nothing at all.

[portycabbage]

[QUOTE=livi hibs 1875;4527701]Can't read it all, can you give a short version[/QUOtaken'

[QUOTE]...But it is not at all difficult to sense a growing desire for a return to normality in boardrooms across the land. Peter Lawwell, the Celtic chief executive, has estimated the absence of Rangers from the top flight costs his side £10 million a season. Stewart Milne, the Aberdeen chairman and owner, has openly expressed the desire to see all of the top clubs in the top division. Clubs have grown weary of simply getting by...


In other words, Celtc and Aberdeen are tired of just getting by... apart from Aberdeen who are making record profits.



...The impact that Rangers coming up would have would be considerable. The money accrued from broadcasting, season ticket sales, gate receipts, sponsorship and hospitality would all increase significantly. That would, in turn, improve the quality of the product.

It is the repercussions that remaining in the second tier will have on the finances of the Ibrox club, however, which may be of more concern to those charged with balancing the books at the likes of Aberdeen, Celtic and Hearts.

Where is the evidence that other clubs would benefit? The TV money didn't dry up as predicted, and as stated in this article, many clubs are doing better than ever. Why on earth would anyone - bar perhaps Celtic - worry about Rangers finances if they don't get promoted? It's only really the top 2 teams that get the broadcasting/prize/sponsorship money anyway


...Dave King admitted at the Rangers AGM last month that their current business plan – wealthy supporters offsetting sizeable losses with loans which will be converted into equity at some point in the future – is unsustainable going forward. There is a limit to their benefactors’ benevolence.

Surely they're in an enviable debt-free position, and stand to over-invest for world domination with £30M? Just as well, because Aberdeen are *****ing it about Rangers finances if they don't come up.


...if Rangers remain in the Championship for another season the chances they will continue to operate at a loss. So somebody somewhere will have to come up with the funds needed to keep the club afloat.


Dave King has it sorted.

[ScottB]

Love how suggesting that maybe Rangers should stop spending money they don't have never comes up in the media discourse...

[hibees 7062]

Ludicrous comments from a so called neutral journalist. Can't think of any Hun player I would take as a replacement for any of our players.

I'd take Wallace

[Cropley10]

I was going to say lazy journalism looking up us http://www.transfermarkt.co.uk/hibernian-fc/startseite/verein/903

and them http://www.transfermarkt.co.uk/rangers/spielplan/verein/124/saison_id/2015

But that suggests our squad is worth £5.34m and pauper sevco at £4.46m.

It's not even lazy journalism it's more of the usual crap.

Another wee thing to keep in mind is when rangers first went into panic mode it was when we signed Claros from under their noses. Here we are again with every chance of a marque signing while the glib and shameless liar promises so much and produces so little, sorry nothing at all.

I seem to recall they all think their Goalie is some world-beater. And there's Waghorn. And the lad Tavernier, of course.

[hibees 7062]

I seem to recall they all think their Goalie is some world-beater. And there's Waghorn. And the lad Tavernier, of course.

Future England keeper according to warbs

[Just Alf]

And has asked what options he's got available to move on sooner rather than later... . Some troubles within the squad allegedly... Mr Cat.. your man in the west able to shed any light? (The chav that told me has been right re new hun a few times, and wrong other times
mind you!)

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[Just Alf]

I'm going to add. ...... even if it's wrong I'm going to act as if it's correct with my "the rangers" mates it'll drive them spare as hes their one current shining light in all the doom and gloom lol

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[magpie1892]

Future England keeper according to warbs

:faf::faf:

[jacomo]

If anyone thinks The Rangers led by Dave King would do anything to help the overall development of Scottish football, they need to have a word with themselves.

Promotion would be just the start - we'd then have to listen to weekly demands for this or that, all to benefit The Rangers at the expense of others.

Fortunately, most fans can see through the utterly transparent attempts to promote The Rangers at any cost.

[Jim44]

If anyone thinks The Rangers led by Dave King would do anything to help the overall development of Scottish football, they need to have a word with themselves.

Promotion would be just the start - we'd then have to listen to weekly demands for this or that, all to benefit The Rangers at the expense of others.

Fortunately, most fans can see through the utterly transparent attempts to promote The Rangers at any cost.

There is real dichotomy in that the lying king and the blazers want to build bridges but the majority of their support want to destroy every club ( more or less every one ) that stood against them during their suicide and, by definition, Scottish football. Both will fail unless the lying king can persuade the muppets to denounce their past, ill-gotten trophies and titles, which he won't. The simplest solution is for the lot of them to go into a corner and rot away.

[Jim44]

'What happened to Rangers FC was politically motivated?'


A title of a thread running for a couple of days, on FF. More or less discussing how the SNP, Labour Party and the Catholic church contrived to destroy their club. Every bad thing that happened to them was initiated by these nasty people, even down to arranging for Green, White and assorted bogeymen to infiltrate their club and cause havoc. Dan Brown would have had his work cut out to write the script.

[jacomo]

There is real dichotomy in that the lying king and the blazers want to build bridges but the majority of their support want to destroy every club ( more or less every one ) that stood against them during their suicide and, by definition, Scottish football. Both will fail unless the lying king can persuade the muppets to denounce their past, ill-gotten trophies and titles, which he won't. The simplest solution is for the lot of them to go into a corner and rot away.

I don't think King wants to build bridges at all. It's just that he has belatedly realised he is holding a weak hand and he needs support from others. Stewart Milne has stepped up, and has rightly been criticised by his own fanbase for doing so.

[Jack]

There is real dichotomy in that the lying king and the blazers want to build bridges but the majority of their support want to destroy every club ( more or less every one ) that stood against them during their suicide and, by definition, Scottish football. Both will fail unless the lying king can persuade the muppets to denounce their past, ill-gotten trophies and titles, which he won't. The simplest solution is for the lot of them to go into a corner and rot away.

The Lying King, other directors and spokespeople for that have threatened all sorts, even recently.

They're as bad, if not worse than the support!

[Onion]

I don't think King wants to build bridges at all. It's just that he has belatedly realised he is holding a weak hand and he needs support from others. Stewart Milne has stepped up, and has rightly been criticised by his own fanbase for doing so.

Agreed. No one at Ibrox is in the slight bit interested in other SPFL clubs, other than Celtic. We're nothing more than a necessary evil to them, and they'd sell us all out in a heartbeat to move to England. Ibrox directors have looked over the hill and panicking at the thought to being left on the lower divs for another season. If not for that, they'd be just like their fans, gobbing on us from above.

[Keith_M]

'What happened to Rangers FC was politically motivated?'


A title of a thread running for a couple of days, on FF. More or less discussing how the SNP, Labour Party and the Catholic church contrived to destroy their club. Every bad thing that happened to them was initiated by these nasty people, even down to arranging for Green, White and assorted bogeymen to infiltrate their club and cause havoc. Dan Brown would have had his work cut out to write the script.

Reminded me of this guy (https://www.youtube.com/watch?v=aK21p8NEL8Y).

Watch it right through and you'll see their views are nothing new.

[greenginger]

Whatever happened to that pesky £ 5 million that had been lodged in a bank ready to forward to Sports Direct.

Has it been lost again :confused:

Or maybe waiting until nearer Monday before releasing the good news of actually repaying somebody.

[Deansy]

Whatever happened to that pesky £ 5 million that had been lodged in a bank ready to forward to Sports Direct.

Has it been lost again :confused:

Or maybe waiting until nearer Monday before releasing the good news of actually repaying somebody.

Patience - it might only have taken King an hour and a half to raise the money but it takes ages to count it - £5m in coins, specially after they've been gathering dust, alcohol, blood, puke, spit etc lying in bottles in bar-tops, hospital-depts, schools, churches etc throughout Govan for years, is no easy task ..........

[Bostonhibby]

Whatever happened to that pesky £ 5 million that had been lodged in a bank ready to forward to Sports Direct.

Has it been lost again :confused:

Or maybe waiting until nearer Monday before releasing the good news of actually repaying somebody.

Borrowed it from themselves, and now the music has stopped they're all looking around yam style for how to actually realise the cash and then repay it.

All big teams do it, or at least talk about it.

[CallumLaidlaw]

Kenny Miller finally admits -
We are a new team :greengrin:wink:

http://rangers.co.uk/news/headlines/relishing-hibs-challenge/

[Radium]

STV News ‏@STVNews (https://twitter.com/STVNews) 52s52 seconds ago (https://twitter.com/STVNews/status/680031779303063552)
Rangers claim £5m Sports Direct loan has been repaid in full http://bit.ly/1OcwUHG (https://t.co/coVAEPNl0g)


The implicit trust shown by the media is slipping ... wonder how many days it will take to clear



More

[greenginger]

http://news.stv.tv/west-central/1337146-rangers-claim-5m-sports-direct-loan-has-been-repaid-in-full/

Announced at 2.30 PM on Christmas eve, not much time for any confirmation !

[lapsedhibee]

STV News ‏@STVNews (https://twitter.com/STVNews) 52s52 seconds ago (https://twitter.com/STVNews/status/680031779303063552)
[COLOR=#292F33][FONT=Arial]Rangers claim £5m Sports Direct loan has been repaid in full http://bit.ly/1OcwUHG (https://t.co/coVAEPNl0g)


The implicit trust shown by the media is slipping ... wonder how many days it will take to clear


Notice the Thes did not say payment had been made, but that it had been 'sent'.

So 2nd class stamp, posted on 24th December. Wonder how many days it will take to arrive.

[CropleyWasGod]

Notice the Thes did not say payment had been made, but that it had been 'sent'.

So 2nd class stamp, posted on 24th December. Wonder how many days it will take to arrive.

I hope they put a wee Thank You card in with it.

[Jack Hackett]

I hope they put a wee Thank You card in with it.

More likely to have sent it without a stamp

[southern hibby]

He he that's 5 mill less in their non existent war chest.

However I really do believe after Hibs hump them Monday and Falkirk go level on points with them they'll be funds available. Not sure where the funds will come from but that's never been a problem before.

GGTTH

[Ozyhibby]

He he that's 5 mill less in their non existent war chest.

However I really do believe after Hibs hump them Monday and Falkirk go level on points with them they'll be funds available. Not sure where the funds will come from but that's never been a problem before.

GGTTH

It was in 2012. [emoji3]


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[ballengeich]

The Rangers' statement is that the loan from Sports Direct has been repaid, but I thought that the £5m was loaned by MASH Holdings. Could there be any significance in this or are the two the same?

[greenginger]

The Rangers' statement is that the loan from Sports Direct has been repaid, but I thought that the £5m was loaned by MASH Holdings. Could there be any significance in this or are the two the same?


The loans are all due to Sports Direct according to Company House

[ballengeich]

The loans are all due to Sports Direct according to Company House

Thanks. My mistake (and suspicious mind).

[Ozyhibby]

I think the first loan of £2-3m was from MASH holdings but then SD loaned £5m on condition the MASH loan was paid back.


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[southern hibby]

It was in 2012. [emoji3]


Sent from my iPhone using Tapatalk

Yes it was He He.

GGTTH

[brog]

They must hav received our cheque for Monday! Seriously its perfectly possible they're using the ticket money £250k? to bridge the gap. I vaguely rember something similar before! Just hope the players aren't expecting to be paid as well!!

[Keith_M]

Maybe the £5M is the first installment of The Lying King's fabled £40M/£30M investment.


Was that a Pig I just saw flying past my window?

[Viva_Palmeiras]

Maybe the £5M is the first installment of The Lying King's fabled £40M/£30M investment.


Was that a Pig I just saw flying past my window?

Wasn't the rallying cry "return to your lodges and prepare for the Champions League"?

[magpie1892]

More likely to have sent it without a stamp

They will have sent it 2nd class and it will get 'lost in the post'.

[HUTCHYHIBBY]

Maybe the £5M is the first installment of The Lying King's fabled £40M/£30M investment.


Was that a Pig I just saw flying past my window?

More likely to have been a snowman!

[grunt]

This guy seems to be just rambling these days ...
I posit that he'd benefit from having an editor.

https://johnjamessite.wordpress.com/2015/12/26/the-flat-earth-society/

[Brunswickbill]

I was watching Star Wars Episode 6 last night to get me in the mood for going to see the new Star Wars film. Got me thinking about Worthington Group buying Craig Whytes interests in Law Financial including the book, film and television rights to the two takeovers of RIPFC in 2011 and 2012. I was thinking that Jabba the Hutt might make a good MA. It will be an interesting film, maybe the first film in history where every character is a baddie.

[Deansy]

I was watching Star Wars Episode 6 last night to get me in the mood for going to see the new Star Wars film. Got me thinking about Worthington Group buying Craig Whytes interests in Law Financial including the book, film and television rights to the two takeovers of RIPFC in 2011 and 2012. I was thinking that Jabba the Hutt might make a good MA. It will be an interesting film, maybe the first film in history where every character is a baddie.

Nah, if ever there's a film made about them (what about '****' - Think Ray Winstone was in it ?) then Jabba the Hut MUST play Jim Traynor - No-one else is capable of bringing all the evil, all the lies, double-dealings, bullying etc that Traynor possesses !!

[lord bunberry]

Nah, if ever there's a film made about them (what about '****' - Think Ray Winstone was in it ?) then Jabba the Hut MUST play Jim Traynor - No-one else is capable of bringing all the evil, all the lies, double-dealings, bullying etc that Traynor possesses !!
It could be a case of jabba playing both roles, he is afte all a consummate professional and an acting genius. There could be an Oscar in it for him playing 2 fat tubs of incoherent lard in one film has never been done before.

[Brunswickbill]

Nah, if ever there's a film made about them (what about '****' - Think Ray Winstone was in it ?) then Jabba the Hut MUST play Jim Traynor - No-one else is capable of bringing all the evil, all the lies, double-dealings, bullying etc that Traynor possesses !!

I bow to your greater insight. May the farce be with you.

[Smartie]

Some words of warning for those travelling to Ibrox on Monday.


https://www.youtube.com/watch?v=0znNiN0lYAQ

[bingo70]

Back page of the sun today is a story saying warburton is still getting the funds he was promised.

I only read the back page on Twitter so bit read the full story but the quotes from the MD look far from convincing, if anything I read it more of a plea to Dave King rather than a promise. If he now doesn't get the money there must be a chance it'll cause a fall out internally in the big hoose. The MD will have looked for pretty stupid and it's bound to piss warburton off.

I'm maybe reading too much into it though, sorry, not sure how to post the picture of it.

[Spike Mandela]

Back page of the sun today is a story saying warburton is still getting the funds he was promised.

I only read the back page on Twitter so bit read the full story but the quotes from the MD look far from convincing, if anything I read it more of a plea to Dave King rather than a promise. If he now doesn't get the money there must be a chance it'll cause a fall out internally in the big hoose. The MD will have looked for pretty stupid and it's bound to piss warburton off.

I'm maybe reading too much into it though, sorry, not sure how to post the picture of it.

.....but who will they have to sell to raise funds?

[bingo70]

.....but who will they have to sell to raise funds?

Dave King and the 3 bears have promised them funds and the boy who's quoted has no reason not to believe them!......I can think of a couple of reasons!

I'd have thought by now the MD would know exactly what the budget is going to be for a transfer window that opens in less than a week.

[Just Alf]

Dave King and the 3 bears have promised them funds and the boy who's quoted has no reason not to believe them!......I can think of a couple of reasons!

I'd have thought by now the MD would know exactly what the budget is going to be for a transfer window that opens in less than a week.


Agreed, I'd be amazed if he didn't know what's available...... Maybe it is indeed just a case of him pushing King and the others a bit to pony up some wonga.


..... Here the link to the article http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/rangers/6824225/Warburton-will-get-cash-to-strengthen-Rangers-in-January.html

[jacomo]

This guy seems to be just rambling these days ...
I posit that he'd benefit from having an editor.

https://johnjamessite.wordpress.com/2015/12/26/the-flat-earth-society/

I find his pretension quite wearing, tbh.

[Jim44]

This guy seems to be just rambling these days ...
I posit that he'd benefit from having an editor.

https://johnjamessite.wordpress.com/2015/12/26/the-flat-earth-society/


I find his pretension quite wearing, tbh.

Guy has to be a nutter. Just because he waxes lyrical about things we like to hear or would like to believe, his manic preoccupation with Sevco is disturbing and past it's sell by date.

[HUTCHYHIBBY]

Guy has to be a nutter. Just because he waxes lyrical about things we like to hear or would like to believe, his manic preoccupation with Sevco is disturbing and past it's sell by date.

Thats an ironic post for page 1113 of a thread! :-)

[Just Alf]

I find his pretension quite wearing, tbh.

agree. i used to quite like a read of his page, totally given up on it now.

[Baldy Foghorn]

He makes some great points re Ogilvie, Regan and Doncaster.....The whole thing stinks.....Regan had a cheek commenting on FIFA corruption.....Brass neck.

[Lucius Apuleius]

agree. i used to quite like a read of his page, totally given up on it now.

😁😂😃😄😅😆

[Just Alf]




OK! OK! ...... "Like" was too strong a word!

Lol


:taxi:

[Nutmegged]

Thats an ironic post for page 1113 of a thread! :-)

😂

[Keith_M]

Thats an ironic post for page 1113 of a thread! :-)


Are they buried yet?

Last I heard the body was in the mortuary and the family were fighting over the inheritance.

[Bostonhibby]

Are they buried yet?

Last I heard the body was in the mortuary and the family were fighting over the inheritance.
Which body? Sevco? The rangers? The now defunct Glasgow rangers? The rangers international? Club 12(?)

I can't keep up. But I guess this is what all big teams do.

[Jack]

Who are sevcos bankers?

[magpie1892]

Who are sevcos bankers?

The National Bank of Burkina Faso?

[Ozyhibby]

Who are sevcos bankers?

Metro Bank


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[Jack]

Metro Bank


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A guy musing on the Bounce that there may be issues with them presenting a £5m cheque to anyone given their toxicity.

Could there be problems?

[CropleyWasGod]

Don't see why TBH. If the cheque is signed and dated properly :)

On the other hand, if their Internet banking has the same daily limit as mine, it could take a while. .......






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[grunt]

Who uses cheques these days??

[HoboHarry]

Who uses cheques these days??
Glib and shameless liars. And his minions.

[Eyrie]

Who uses cheques these days??

Anyone who wants to delay payment by using a second class stamp during a holiday period. It's probably post-dated to January 2017 anyway.

[greenlex]

Metro Bank


Sent from my iPhone using Tapatalk Ah. Underground banking. It all makes sense now.

[CropleyWasGod]

Here's a succinct and unbiased summary of the EBT story from someone who knows what he's talking about.

https://www.icas.com/technical-resources/reversal-of-fortune-employee-benefit-trusts-and-the-rangers-case

I have just read an updated (paper) version of the article, which acknowledges that leave to appeal has been sought.

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[Sergey]

I've not seen this posted anywhere (and probably the wrong thread) but The Rangers are about to break into their supposed transfer war chest and sign this lad (on a free transfer).

http://www.skysports.com/football/news/11781/10115187/rangers-boss-mark-warburton-closes-on-harry-forrester-signing

Total spent on transfers in the January window = £0

[Moulin Yarns]

I've not seen this posted anywhere (and probably the wrong thread) but The Rangers are about to break into their supposed transfer war chest and sign this lad (on a free transfer).

http://www.skysports.com/football/news/11781/10115187/rangers-boss-mark-warburton-closes-on-harry-forrester-signing

Total spent on transfers in the January window = £0

Definately their kind of player. played 48, scored 9 goals got 7 yellow cards and 2 red cards last season.

[Ozyhibby]

Back in court on Tuesday. Judgement on Dave Kings contempt hearing.


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[Dan Sarf]

Warburton on Forrester...

“Whilst sorry to see Harry depart Griffin Park, it simply underlines the fact that whilst we as a club will move to attract and secure talented individuals, we only want players who are absolutely committed to Brentford FC.

“We will make very positive and aggressive offers to retain the services of key staff, but not seek to break the pay structures that we think are appropriate.”

With respect. :greengrin

[brog]

I've not seen this posted anywhere (and probably the wrong thread) but The Rangers are about to break into their supposed transfer war chest and sign this lad (on a free transfer).

http://www.skysports.com/football/news/11781/10115187/rangers-boss-mark-warburton-closes-on-harry-forrester-signing

Total spent on transfers in the January window = £0

I saw Forrester play for Brentford & unfortunately he was more than decent. He's a similar type to Scott Allan, ie a playmaker but IMO less talented than SA. He also shares some of SA's foibles, ie disappears from games, tries killer balls too often etc. He does seem to have gone off the radar in last season or 2 & hopefully half loaf won't be able to change that.

[Ozyhibby]

http://www.thenational.scot/sport/the-kicker-all-clubs-must-come-clean-on-bad-old-days.11837?utm_medium=social&utm_source=Twitter&utm_campaign=Echobox&utm_term=Autofeed#link_time=1451545285


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[Spike Mandela]

http://www.thenational.scot/sport/the-kicker-all-clubs-must-come-clean-on-bad-old-days.11837?utm_medium=social&utm_source=Twitter&utm_campaign=Echobox&utm_term=Autofeed#link_time=1451545285


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Rangers supporting agent acts as apologist for dead Rangers....shock, horror.

Let's all move on........Aye, right.:cb

[grunt]

Rangers Official Statement 1/1/16


Rangers International Football Club PLC (RIFC) is pleased to announce new loan facilities totalling £6.5m have been made available to the company over the past month.
The facilities have been provided by existing lenders New Oasis Asset Limited (Dave King), Douglas Park, George Letham and George Taylor and by three new lenders, RIFC Director John Bennett and two additional Hong Kong based supporters, Barry Scott and Andy Ross.
RIFC’s board is delighted to welcome the new lenders who, as long-standing supporters of the Club, fit exactly into the profile of investors that RIFC has encouraged during this ongoing rebuilding phase. The new funding has all been provided on the same basis as other recent loans to RIFC.
The loans to RIFC were primarily utilised to fund repayment of the Sports Direct facility with the balance going towards the Group’s working capital requirements

[Spike Mandela]

Rangers Official Statement 1/1/16

So the £5 m loan from Sports Direct is now just a loan from someone else and hence still a debt.

[grunt]

So the £5 m loan from Sports Direct is now just a loan from someone else and hence still a debt.Yes, but they owe it to themselves... What could go wrong?