Generic Sevco / Rangers meltdown thread

[PatHead]

It will be interesting to see how they get past FFP regs to play in Europe this summer?



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They managed last year after winning the cup. Did they not ?

[HoboHarry]

They managed last year after winning the cup. Did they not ?
Aye that winning goal from Halliday made him a Sevco legend.......

Well in his own heid anyway........

[Ozyhibby]

https://thecelticblog.com/2017/03/blogs/sevcos-positive-six-month-financial-figures-hides-the-truth-and-a-rollercoaster-downside/
Bit about FFP in here.

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[Hibbyboy]

No, they can't turn them into shares without offering the same deal to all shareholders. They can write the loans off though but I doubt they will do that.
Ashley controlling retail probably only costs them about £4/5m a year. Not enough to make much of a dent in Celtics advantage.
They had revenue of £16m for the 6 months to Dec. Over the same 6 months Celtics revenue was £61m.


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Which I believe Glib is attempting to do as we speak. I've heard 20p each share being mooted.
True, but if I were a zom I would prefer my own house is in order before comparing to other teams. They've dominated Scottish football on and off the park when sevco have been down. Champs league most seasons. £2 mill coming 1st each season. Its been pretty painful viewing, a one horse race in all terms. Shame the sheep couldn't hold their bottle the past few seasons.
European football will be sevcos aim. If they get into the EL groups they will get cash, it's all part of Glibs 3 year plan or however he spun it.

[ancient hibee]

No King has been ordered to offer 20p a share because of a concert party arrangement at the takeover.

[Hibbyboy]

https://thecelticblog.com/2017/03/blogs/sevcos-positive-six-month-financial-figures-hides-the-truth-and-a-rollercoaster-downside/
Bit about FFP in here.

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I would be careful reading blogs like this tbh.

Dermot Desmond was named in the Panama Papers. He owns a Latvian bank that was recently found to be money laundering.

They are both as bad as each other. Scottish Football would be 10x better without them.

FFP is a minefield. It would seem you can sill compete in Europe despite not meeting the criteria. Seems you can just pay a fine and continue on. Uefa at its finest.

[CropleyWasGod]

Which I believe Glib is attempting to do as we speak. I've heard 20p each share being mooted.
True, but if I were a zom I would prefer my own house is in order before comparing to other teams. They've dominated Scottish football on and off the park when sevco have been down. Champs league most seasons. £2 mill coming 1st each season. Its been pretty painful viewing, a one horse race in all terms. Shame the sheep couldn't hold their bottle the past few seasons.
European football will be sevcos aim. If they get into the EL groups they will get cash, it's all part of Glibs 3 year plan or however he spun it.

He's not attempting to do that, as far as we know.

He has been ordered to make the offer of 20p per share, but he has made no noises about complying with it. Indeed:-

" I do not agree with TAB’s much delayed ruling nor follow its logic and I shall take the appropriate time to reflect upon it and consider the best course of action for myself, Rangers International Football Club and its shareholders. My view on one individual not being able to exert undue influence on Rangers is already well known."

[Ozyhibby]

I would be careful reading blogs like this tbh.

Dermot Desmond was named in the Panama Papers. He owns a Latvian bank that was recently found to be money laundering.

They are both as bad as each other. Scottish Football would be 10x better without them.

FFP is a minefield. It would seem you can sill compete in Europe despite not meeting the criteria. Seems you can just pay a fine and continue on. Uefa at its finest.

It looks like you can still compete but only under strict financial supervision to break even. That means no more soft loans etc. That means cutting the wage bill to fit the revenue coming in. Will the Sevconians tolerate that? Will they still keep buying season tickets knowing their player budget will be about a quarter of Celtics? No more going for #55 sales pitch? And if sales drop the player budget would have to drop again to match. Qualifying for Europe could be a double edged sword.


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[PeeKay]

I would be careful reading blogs like this tbh.

Dermot Desmond was named in the Panama Papers. He owns a Latvian bank that was recently found to be money laundering.

They are both as bad as each other. Scottish Football would be 10x better without them.

FFP is a minefield. It would seem you can sill compete in Europe despite not meeting the criteria. Seems you can just pay a fine and continue on. Uefa at its finest.

Desmond's name has been found in the "Panama Papers" - I think linked to correspondence from HSBC - but, like the late Prime Minister's father, has not been found to have done anything illegal - unlike King.
He does not "own" a Latvian bank, he owns a share of said bank, but nevertheless may be caught up in a case being investigated by the French.
I agree with the two cheeks of the same @rse argument in many cases, but I don't think the Desmond can be compared to the glib and shameless one.

[GreenLake]

Desmond's name has been found in the "Panama Papers" - I think linked to correspondence from HSBC - but, like the late Prime Minister's father, has not been found to have done anything illegal - unlike King.
He does not "own" a Latvian bank, he owns a share of said bank, but nevertheless may be caught up in a case being investigated by the French.
I agree with the two cheeks of the same @rse argument in many cases, but I don't think the Desmond can be compared to the glib and shameless one.

He only "own"s a third of the bank which by your logic would mean that he doesn't "own" Celtic (https://www.google.com/#safe=off&q=celtic+owner&*)?

[ballengeich]

It looks like you can still compete but only under strict financial supervision to break even. That means no more soft loans etc. That means cutting the wage bill to fit the revenue coming in. Will the Sevconians tolerate that? Will they still keep buying season tickets knowing their player budget will be about a quarter of Celtics? No more going for #55 sales pitch? And if sales drop the player budget would have to drop again to match. Qualifying for Europe could be a double edged sword.


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Supervision by UEFA might even suit the Ibrox board. "The warchest's there, honest, but UEFA won't let us spend it".

Next season they'll be increasing ticket prices, they'll have increased central prize money from the SPFL and probably some European income. When the 15-16 accounts were issued in the autumn a figure of £3m in soft loans was quoted as being needed for this season. If that turns out to be correct then that additional income could allow them to break even in 17-18 while roughly keeping this season's level of spending.

I agree with your point about the possibility of season ticket sales falling away if the bears can't see anything better than a distant second in store.

In the closer future the big threat isn't the loss on normal trading, it's the court cases being raised by Warburton's management team and Ashley's companies. The amounts involved there could be bigger than the trading or accounting losses if they lose all the cases. We don't know how capable the directors are of covering these possible liabilities.

[PeeKay]

He only "own"s a third of the bank which by your logic would mean that he doesn't "own" Celtic (https://www.google.com/#safe=off&q=celtic+owner&*)?

Yes

[GreenLake]

Yes

So who owns Celtic or the Latvian Bank? Hawley Griffin? :greengrin

[Mr White]

So who owns Celtic or the Latvian Bank? Hawley Griffin? :greengrin

We do. If it wasn't for us they'd be huns.

[jabis]

We do. If it wasn't for us they'd be huns.

Liked that :top marks

[Stonewall]

Initial thoughts.

1. they're not audited.
2. they made a loss, not a profit as it's being spun.
3. There is no Balance Sheet. It's impossible to make any judgement on their position without that.

Any significance that the financial information is in respect of RIFC, not TRFC?

[GreenLake]

We do. If it wasn't for us they'd be huns.

:greengrin

[CropleyWasGod]

Any significance that the financial information is in respect of RIFC, not TRFC?
Who can tell? 😉

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[greenginger]

The rangers vs rangers retail case got underway today.


https://stv.tv/news/west-central/1383863-ashley-and-rangers-in-court-fight-over-merchandise-deal/

The rangers case seems to be based on the claim that " rangers fans don't like the deal ! "

Open and shut case normally, but this Court is in London. :greengrin

[Stonewall]

Who can tell? 😉

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Don't know if it's just the way my mind works but I wonder which entity is granted the licence to compete in UEFA competitions with reference to FFP. Could they dump all the debt with say TRFC and RIFC apply for the FIFA licence.

[TrinityHibs]

We do. If it wasn't for us they'd be huns.

We certainly own the huns:cup:

[Ozyhibby]

Don't know if it's just the way my mind works but I wonder which entity is granted the licence to compete in UEFA competitions with reference to FFP. Could they dump all the debt with say TRFC and RIFC apply for the FIFA licence.

Pretty sure it's TRFC which is the 'club' for the purposes of licensing. I'm not sure if it matters where the debt is for that? The trading losses have been incurred by the 'club'.


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[CropleyWasGod]

Pretty sure it's TRFC which is the 'club' for the purposes of licensing. I'm not sure if it matters where the debt is for that? The trading losses have been incurred by the 'club'.


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That's my understanding.

The FFP rules are not just about debt, but losses as well.

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[Jack Hackett]

That's my understanding.

The FFP rules are not just about debt, but losses as well.

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...so getting pumped at Hampden last May counts against them as well? :greengrin

[HoboHarry]

...so getting pumped at Hampden last May counts against them as well? :greengrin
Sometimes. It's a Gray area...........

[Ozyhibby]

That's my understanding.

The FFP rules are not just about debt, but losses as well.

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In that financial statement yesterday, where is the £2.9m loans they received in October? Does that show on there?


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[northstandhibby]

The rangers vs rangers retail case got underway today.


https://stv.tv/news/west-central/1383863-ashley-and-rangers-in-court-fight-over-merchandise-deal/

The rangers case seems to be based on the claim that " rangers fans don't like the deal ! "

Open and shut case normally, but this Court is in London. :greengrin

According to the link there's a distinct lack of legal basis upon which to lodge a defense? The outcome can only be in MA's favor unless as you quietly imply the cards are already stacked in favor of a distinctly stone builders type club.

In reality if unbiased it certainly appears the huns have no legal grounds and MA should win his case.

glory glory

[Iain G]

The rangers vs rangers retail case got underway today.


https://stv.tv/news/west-central/1383863-ashley-and-rangers-in-court-fight-over-merchandise-deal/

The rangers case seems to be based on the claim that " rangers fans don't like the deal ! "

Open and shut case normally, but this Court is in London. :greengrin

Can't work out what is my favourite quote from this article:

Statement A: "He said there was a widespread view that no "self-respecting" Rangers' supporter wore a replica shirt." - never met a self respecting the The Sevco fan in my life....

Statement B: "Whether rightly or wrongly, the supporters see Mike Ashley's primary goal as the making of money at the expense of on-field success." - yeah that's cos he runs a chain of retail stores and not a football club!

[CropleyWasGod]

In that financial statement yesterday, where is the £2.9m loans they received in October? Does that show on there?


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It was only a trading statement. There was no Balance Sheet.

In other words, kinda meaningless... like an Orange Club biscuit, without the Orange. (work that one up as you will, guys....:greengrin)

[Bostonhibby]

It was only a trading statement. There was no Balance Sheet.

In other words, kinda meaningless... like an Orange Club biscuit, without the Orange. (work that one up as you will, guys....:greengrin)
Or a club, well not the now defunct Glasgow rangers football club anyway.[emoji6]

Not a very nice wrapper either.

[jgl07]

It was only a trading statement. There was no Balance Sheet.

In other words, kinda meaningless... like an Orange Club biscuit, without the Orange. (work that one up as you will, guys....:greengrin)
http://i1180.photobucket.com/albums/x411/JGL07/Club12.png (http://s1180.photobucket.com/user/JGL07/media/Club12.png.html)

[jacomo]

I have it from a source that Follow Follow was extremely provoked by Hibs.net earlier downtime and has now set fire to the internet.

Can anyone confirm?

[Dan Sarf]

I have it from a source that Follow Follow was extremely provoked by Hibs.net earlier downtime and has now set fire to the internet.

Can anyone confirm?


Cough, cough, room here filling up with smoke...

:panic:

[Stonewall]

Pretty sure it's TRFC which is the 'club' for the purposes of licensing. I'm not sure if it matters where the debt is for that? The trading losses have been incurred by the 'club'.


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Club or club?

[southern hibby]

Sometimes. It's a Gray area...........

I seen what you did there


GGTTH

[HoboHarry]

See Phil Mac is giving Sevco a real kicking today......

http://philmacgiollabhain.ie/

[HoboHarry]

I seen what you did there


GGTTH
:greengrin

[CyberSauzee]

This still makes me laugh

https://www.youtube.com/watch?v=H8x_59EjZOs

[660]

See Phil Mac is giving Sevco a real kicking today......

http://philmacgiollabhain.ie/

Why do all these blogs by Celtic fans have the same bizarre style of writing?

[HoboHarry]

Why do all these blogs by Celtic fans have the same bizarre style of writing?
Personally I don't care, the content is far better than any of the tosh to be found in the Daily Record et al.......

[ano hibby]

This still makes me laugh

https://www.youtube.com/watch?v=H8x_59EjZOs

Excellent, sure I've seen it before but worth another look

[Deansy]

This still makes me laugh

https://www.youtube.com/watch?v=H8x_59EjZOs

Me too - but the scary thing about it is, it's TRUE - I'd bet a large majority of us, since they died, has come across or knows a Hun who actually does respond in that way when talking about their 'situation' !

They truly are worthy holders of 'Scottish Football's Thickest F*****s' cup - the ONLY cup they've won/earned without cheating in the last 2-3 decades !

[Ozyhibby]

https://daviesleftpeg.wordpress.com/2017/03/27/shares-what-shares-i-dont-own-any-shares/

Good article written by a Sevconian


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[O'Rourke3]

https://daviesleftpeg.wordpress.com/2017/03/27/shares-what-shares-i-dont-own-any-shares/

Good article written by a Sevconian


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No doubt be pointed at as another "Republican Blogger" and not One Of Thee Peepel

[worcesterhibby]

https://daviesleftpeg.wordpress.com/2017/03/27/shares-what-shares-i-dont-own-any-shares/

Good article written by a Sevconian


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Good to see they are not all knuckle draggers..much better written than McGobbins gibberish as well ( I suppose it is "The Queens" english !)

[grunt]

https://daviesleftpeg.wordpress.com/2017/03/27/shares-what-shares-i-dont-own-any-shares/

Good article written by a Sevconian


Sent from my iPhone using TapatalkAnyone who puts the text of an article on top of a photo should be banned from the Internet.

[ehf]

This is interesting: https://rangers.co.uk/news/club/company-statement-3/


Effectively Paul Murray, the Parks, Bennett and Gilligan have been removed as directors of the Engine Room Subsidiary. Now why would Dave King want to do that?

[CropleyWasGod]

This is interesting: https://rangers.co.uk/news/club/company-statement-3/


Effectively Paul Murray, the Parks, Bennett and Gilligan have been removed as directors of the Engine Room Subsidiary. Now why would Dave King want to do that?
Not sure that there is anything suspicious about it. On the face of it, it does make sense. Separation of governance and all that.

That said, it is the Rangers. JJ and co will no doubt have their own conspiracy theories in place and will let us know them shortly.

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[ehf]

Not sure that there is anything suspicious about it. On the face of it, it does make sense. Separation of governance and all that.

That said, it is the Rangers. JJ and co will no doubt have their own conspiracy theories in place and will let us know them shortly.

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Of course it would make sense in any normal, sane governance structure but this is Planet Sevco. And the timing is perhaps significant given reports of a developing rift between King and the others/the Parks refusing to ante up the money to fund the Takeover Panel-decreed share offer.

[Ozyhibby]

http://www.celticquicknews.co.uk/park-murray-and-gilligan-walk-away-from-crisis-club-rangers/?utm_source=dlvr.it&utm_medium=twitter


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[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170327/dbafacd4196f0714163e1ad99a9b6260.jpg
https://uploads.tapatalk-cdn.com/20170327/8a67ceb2737e5587c06ac441f8ee0b91.jpg
https://uploads.tapatalk-cdn.com/20170327/88ee51ec988dc522951f6103b92a75ae.jpg


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[CropleyWasGod]

....yet they're all still on the Board of the holding company.

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[greenginger]

....yet they're all still on the Board of the holding company.

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The status is being a director of the football club. Its the football club that is a member of the SFA and SPFL so no chance advancement in that direction for those three.

They probably shouldn't get to wear the club blazer or even get director box seats.

Its like being a director of HFC Holdings or Mrs Budge's Bidco 1874.

[CropleyWasGod]

The status is being a director of the football club. Its the football club that is a member of the SFA and SPFL so no chance advancement in that direction for those three.

They probably shouldn't get to wear the club blazer or even get director box seats.

Its like being a director of HFC Holdings or Mrs Budge's Bidco 1874.
My comment was about the Celtic blog claiming that they had "sensationally walked away".

Thus far, they haven't. 😀

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[greenginger]

Its all very strange. :confused:

The football club now has only 2 directors, Stewart Robertson and Andrew Dickson and James Blair as club secretary.

Maybe going to bring in fresh talent, Bomber Brown and the Rangers First Loyals.

[CropleyWasGod]

Its all very strange. :confused:

The football club now has only 2 directors, Stewart Robertson and Andrew Dickson and James Blair as club secretary.

Maybe going to bring in fresh talent, Bomber Brown and the Rangers First Loyals.
The DOF appointment seems to be imminent.

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[Is It On....]

Its all very strange. :confused:

The football club now has only 2 directors, Stewart Robertson and Andrew Dickson and James Blair as club secretary.

Maybe going to bring in fresh talent, Bomber Brown and the Rangers First Loyals.

In honour of their hero Billy Fullerton started a chapter of the KKK in Scotland...truly awful people and history. Luckily Sevco got a chance to ditch decades of hatred in 2012 and start with a clean slate 🙄

[ballengeich]

This is interesting: https://rangers.co.uk/news/club/company-statement-3/


Effectively Paul Murray, the Parks, Bennett and Gilligan have been removed as directors of the Engine Room Subsidiary. Now why would Dave King want to do that?

It's not necessarily down to King. He's has the largest individual shareholding, but not a controlling interest. The other members of the concert party are still needed.

Its all very strange. :confused:

The football club now has only 2 directors, Stewart Robertson and Andrew Dickson and James Blair as club secretary.

Maybe going to bring in fresh talent, Bomber Brown and the Rangers First Loyals.


The three remaining are executive directors. The non-executives are now only on the holding company board.

Might be perfectly innocent.

[jacomo]

Good to see they are not all knuckle draggers..much better written than McGobbins gibberish as well ( I suppose it is "The Queens" english !)

It needed a serious edit IMO. Way too long and awful grammar.

Shame cos he makes a good point. King is a liar.

[brog]

I can't say too much on here but I was told of this likelihood, ie Murray et al, departing a couple of weeks ago at a major racing occasion. My friend is very close to 1 of the 3 Bears, aka the concert party & he described this as the scramble for the lifeboats! Apparently this person has adopted the old Ronald Reagan mantra, ie trust with verification, in his dealings with King. The ruling of the TAB has caused this guy to completely re-evaluate his opinion of DK & he's now looking at his insurance, namely he has retained every piece of correspondence, & possibly more, with King since the inception of their grandiose plan. That's his trust with verification. If the plan proceeds in the manner I was told then either King or the 3 Bears will be gone very shortly, certainly before the end of the season & probably earlier. At the moment the odds on it being DK who departs are about the same as Celtc winning the league. It's a shame in a way because if/when DK goes it actually increases the chances of The Rangers becoming a stable organisation, though thankfully the fall out will have a negative effect for some time to come.

[CropleyWasGod]

I can't say too much on here but I was told of this likelihood, ie Murray et al, departing a couple of weeks ago at a major racing occasion. My friend is very close to 1 of the 3 Bears, aka the concert party & he described this as the scramble for the lifeboats! Apparently this person has adopted the old Ronald Reagan mantra, ie trust with verification, in his dealings with King. The ruling of the TAB has caused this guy to completely re-evaluate his opinion of DK & he's now looking at his insurance, namely he has retained every piece of correspondence, & possibly more, with King since the inception of their grandiose plan. That's his trust with verification. If the plan proceeds in the manner I was told then either King or the 3 Bears will be gone very shortly, certainly before the end of the season & probably earlier. At the moment the odds on it being DK who departs are about the same as Celtc winning the league. It's a shame in a way because if/when DK goes it actually increases the chances of The Rangers becoming a stable organisation, though thankfully the fall out will have a negative effect for some time to come.

Cheers for that.

It's all very plausible, but it does beg one question..... who would buy them in their current state?

[brog]

Cheers for that.

It's all very plausible, but it does beg one question..... who would buy them in their current state?

Agreed, that's the major fly in the ointment. I'll pm you.

[Smartie]

I know a journalist who interviewed David Murray a while back - he got the feeling that Murray was biding his time before making a move to get involved again.

Remember, the hordes still (generally) seem to view him as the guy who brought the good times rather than the guy who killed their club.

[Deansy]

I can see another bargain '£1' sale in their 'future' ................................. Ha-ha-ha just realised as I was typing - they've no money, just plenty of debt, their squad is sheer 'Jock White' and Septic just keep on winning - the Hun have NO FUTURE !

NO Cups/Titles = constant year-on-year reduction in the Hun-hordes.

[Ozyhibby]

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[Ozyhibby]

https://thecelticblog.com/2017/03/blogs/the-ibrox-board-restructuring-is-not-about-minor-changes-theres-something-big-going-on/


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[CropleyWasGod]

https://thecelticblog.com/2017/03/blogs/the-ibrox-board-restructuring-is-not-about-minor-changes-theres-something-big-going-on/


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Happy to be proved wrong, but they're not giving any evidence about the "sensational" nature of things. Sure, it's the Huns, therefore nothing is rarely as it first appears, but I can't help thinking they're letting their prejudices get in the way here.

[CyberSauzee]

Decent summary

http://www.thenational.scot/sport/15185383.Opinion__Dave_King_facing_an_uncertain_Ib rox_future/?ref=mr&lp=1

[brog]

Decent summary

http://www.thenational.scot/sport/15185383.Opinion__Dave_King_facing_an_uncertain_Ib rox_future/?ref=mr&lp=1

Indeed! At least 1 or 2 decent journos still in Scotland then though of course Martin Hannan does not really start from a neutral Position!

[Ozyhibby]

Happy to be proved wrong, but they're not giving any evidence about the "sensational" nature of things. Sure, it's the Huns, therefore nothing is rarely as it first appears, but I can't help thinking they're letting their prejudices get in the way here.

I agree although the point about Sandy Easdale does highlight that all is not what it seems with the Ibrox statement.


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[Is It On....]

More related Sevco "housekeeping" as it's being reported that GSL has just resigned from the board of his own company in SA. "The new Board structure provides the increasingly higher level of governance demanded by investors". Wonder how his consideration of the take-over panel decision in the UK is going and whether he will deem it necessary to improve the governance levels at RIFC 🤔

[HoboHarry]

Sincerely hope this is true from Phil Mac

http://philmacgiollabhain.ie/2017/04/03/a-toxic-take-over/

[Ozyhibby]

Sincerely hope this is true from Phil Mac

http://philmacgiollabhain.ie/2017/04/03/a-toxic-take-over/

9 days until the offer must be made.
This week could be very interesting.


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[HoboHarry]

9 days until the offer must be made.
This week could be very interesting.


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I don't understand what King's problem is. He still has 15M left in the war chest to pay for it right?

Haw haw haw.......

[Is It On....]

Sincerely hope this is true from Phil Mac

http://philmacgiollabhain.ie/2017/04/03/a-toxic-take-over/

Given the sums involved it shouldn't really be that difficult to raise the money. The problem probably comes from the security being offered (or not) for the bridging loan facility. Mike Ashley had the car park / offices as security for his loans and I would have thought first charge on these now rests with the Three Bears / GSL after they repaid MA with private loans. I don't doubt (unlike some) that GSL has money in SA but it's incredibly difficult to get money out of the country at present and Jacob Zuma's latest stunts (which including sacking his finance minister) will not have made this any easier. It all adds up to an interesting few days ahead and it wouldn't surprise me if he ended up going cap in hand to Mr Ashley to solve the problem.

[CropleyWasGod]

Given the sums involved it shouldn't really be that difficult to raise the money. The problem probably comes from the security being offered (or not) for the bridging loan facility. Mike Ashley had the car park / offices as security for his loans and I would have thought first charge on these now rests with the Three Bears / GSL after they repaid MA with private loans. I don't doubt (unlike some) that GSL has money in SA but it's incredibly difficult to get money out of the country at present and Jacob Zuma's latest stunts (which including sacking his finance minister) will not have made this any easier. It all adds up to an interesting few days ahead and it wouldn't surprise me if he ended up going cap in hand to Mr Ashley to solve the problem.

King can't use any of RFC's assets for finance, if that's what you mean.

[Ozyhibby]

https://daviesleftpeg.wordpress.com/2017/04/04/the-3-amigos/?preview_id=288&preview_nonce=be2e85abac


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[greenginger]

King can't use any of RFC's assets for finance, if that's what you mean.


I doubt his South African assets will be much use either. :greengrin


https://www.bloomberg.com/news/articles/2017-04-03/traders-prepare-for-south-africa-credit-downgrade-to-junk-chart

[jgl07]

I doubt his South African assets will be much use either. :greengrin


https://www.bloomberg.com/news/articles/2017-04-03/traders-prepare-for-south-africa-credit-downgrade-to-junk-chart

It matters little what King has in South Africa because the exchange rate is so bad. In 1968 it was 2 rand to the £ Sterling. Now it is something like 23 Rand to the £.

In any event, it is next to impossible to get large sums of money out of South Africa.

Not that King has any intention of putting his own cash on the line.

Like David Murray before him he will attempt to persuade others to 'invest' and keep hold of his own cash.

[CropleyWasGod]

It matters little what King has in South Africa because the exchange rate is so bad. In 1968 it was 2 rand to the £ Sterling. Now it is something like 23 Rand to the £.

In any event, it is next to impossible to get large sums of money out of South Africa.

Not that King has any intention of putting his own cash on the line.

Like David Murray before him he will attempt to persuade others to 'invest' and keep hold of his own cash.

That's not his immediate problem, though.

He has to make an offer to the other shareholders within the next week or so.... with his own cash.

[Ozyhibby]

It matters little what King has in South Africa because the exchange rate is so bad. In 1968 it was 2 rand to the £ Sterling. Now it is something like 23 Rand to the £.

In any event, it is next to impossible to get large sums of money out of South Africa.

Not that King has any intention of putting his own cash on the line.

Like David Murray before him he will attempt to persuade others to 'invest' and keep hold of his own cash.

Part of King's settlement with SARS to avoid 82 years in jail was that he repatriate all his assets to SA.


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[grunt]

King can't use any of RFC's assets for finance, if that's what you mean.Isn't that what Whyte got into trouble for?

[Bostonhibby]

Part of King's settlement with SARS to avoid 82 years in jail was that he repatriate all his assets to SA.


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Wow, I was just about to put this years Cash ISA allowance in my Banks miserable fund as usual but now I've seen this it sounds like this is the guy for me - what funds is he associated with?:crazy:

[CropleyWasGod]

Isn't that what Whyte got into trouble for?

Nah, he got screwed cos he bet the ST money on the Gers against Malmo.

Or something like that.

[Is It On....]

King can't use any of RFC's assets for finance, if that's what you mean.

Indeed (and sorry for the confusion). He has to find the money from his own pocket as the prev loans were for RIFC purposes to repay Mile Ashley.

[CropleyWasGod]

JJ's latest piece.

He has nailed a few of his colours to the mast with this one, both politically and morally. I stopped reading at the homophobic *****, but if anyone has read the full thing, does he say anything sensible?

https://johnjamessite.com/2017/04/06/will-the-sfa-be-an-ffp-lite-touch-for-rangers/

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[AndyM_1875]

JJ's latest piece.

He has nailed a few of his colours to the mast with this one, both politically and morally. I stopped reading at the homophobic *****, but if anyone has read the full thing, does he say anything sensible?

https://johnjamessite.com/2017/04/06/will-the-sfa-be-an-ffp-lite-touch-for-rangers/

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I read that though and its the ranting of a raving bigot. This guy is disgusting.

[Ozyhibby]

I read that though and its the ranting of a raving bigot. This guy is disgusting.

Stopped reading him a while back. Loser.


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[CropleyWasGod]

Stopped reading him a while back. Loser.


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He's getting slated on Twitter for it.

It's symptomatic of bloggers that they seem to have this need to go further than what they're "good" at. By all means, he should tell us what he knows, but (and I've said this before) when he branches out into areas he knows ****-all about, he loses any credibility. And this latest ***** has just blown him out of the water for me.

[Stonewall]

He's getting slated on Twitter for it.

It's symptomatic of bloggers that they seem to have this need to go further than what they're "good" at. By all means, he should tell us what he knows, but (and I've said this before) when he branches out into areas he knows ****-all about, he loses any credibility. And this latest ***** has just blown him out of the water for me.

I couldn't agree with you more CWG. JJ certainly seems to be a very strange character: thin skinned, self righteous, angry, insecure, paranoid, homophobic, in need of an editor and prone to gilding the Lilly.

Will keep reading his Rangers based stuff but I question it all, which is probably a healthy thing.

[O'Rourke3]

I couldn't agree with you more CWG. JJ certainly seems to be a very strange character: thin skinned, self righteous, angry, insecure, paranoid, homophobic, in need of an editor and prone to gilding the Lilly.

Will keep reading his Rangers based stuff but I question it all, which is probably a healthy thing.

And folk questioned his credentials as a Rangers supporter....

[HoboHarry]

JJ's latest piece.

He has nailed a few of his colours to the mast with this one, both politically and morally. I stopped reading at the homophobic *****, but if anyone has read the full thing, does he say anything sensible?

https://johnjamessite.com/2017/04/06/will-the-sfa-be-an-ffp-lite-touch-for-rangers/

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Which parts are you taking issue with CWG? For the most part he is simply repeating what other people have stated? Unless I am ending up at the wrong article....

[CropleyWasGod]

Which parts are you taking issue with CWG? For the most part he is simply repeating what other people have stated? Unless I am ending up at the wrong article....
He's changed it.

There were a few paragraphs which laid bare his own political leanings, which is fair enough. He then went on to talk about the sexuality of some of our political leaders, in disparaging and offensive terms.

A few people on his site seem to have pulled him up on it, and that's probably made him remove the offending parts. That, and perhaps the threat of legal action.

Still doesn't excuse him, though.

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[HoboHarry]

He's changed it.

There were a few paragraphs which laid bare his own political leanings, which is fair enough. He then went on to talk about the sexuality of some of our political leaders, in disparaging and offensive terms.

A few people on his site seem to have pulled him up on it, and that's probably made him remove the offending parts. That, and perhaps the threat of legal action.

Still doesn't excuse him, though.

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Ok fair enough. I was surprised by your post as you rarely use that type of vocabulary.

[CropleyWasGod]

Ok fair enough. I was surprised by your post as you rarely use that type of vocabulary.
You should read the first drafts of some of my posts 😂

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[Is It On....]

Ok fair enough. I was surprised by your post as you rarely use that type of vocabulary.

Take issue with CWG? As a (relatively) new boy on here, I know better and have been (politely) corrected / been encouraged to clarify "once or twice" 😉

[HoboHarry]

Take issue with CWG? As a (relatively) new boy on here, I know better and have been (politely) corrected / been encouraged to clarify "once or twice" 😉

Ah don't be fooled by CWG's fierce demeanor. He's just a big teddy bear 😀

[Is It On....]

Ah don't be fooled by CWG's fierce demeanor. He's just a big teddy bear 😀

I have had easier investment pitches at work 🙄. And I am not sure about calling him a big "teddy bear" 🤔

[MrSmith]

Ah don't be fooled by CWG's fierce demeanor. He's just a big teddy bear 😀

And for all this time, I thought CWG was a lady :O

[CropleyWasGod]

I have had easier investment pitches at work 🙄. And I am not sure about calling him a big "teddy bear" 🤔
I'll have you know I'm a ****ing pussy cat. And don't you ****ing forget it

😆😆😆

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[magpie1892]

https://johnjamessite.com/2017/04/07/the-end-of-john-james/

Yet again. The boy who cried wolf would have lost his voice by now.

Please, God, make it so...

[CropleyWasGod]

https://johnjamessite.com/2017/04/07/the-end-of-john-james/

Yet again. The boy who cried wolf would have lost his voice by now.

Please, God, make it so...

That is funny.

I think that, after his (now edited) rant the other day, there's more chance of the Stonewall Youth putting a contract out on him. :rolleyes:

[BH Hibs]

He's a slavering twat.

[magpie1892]

That is funny.

I think that, after his (now edited) rant the other day, there's more chance of the Stonewall Youth putting a contract out on him. :rolleyes:

The piece about the SNP has been removed in its entirety. That the editor of a blog would exercise such self-censorship finally extinguishes what minute amount of credibility/authority he ever had.

I think there's a decent argument to be made that that whole thing was just a money-making exercise. I simply don't believe he got an Osman letter. The incessant begging was utterly embarrassing but, in retrospect, maybe we should be tipping our hat to a semi-decent scammer?

Either way, I hope we've heard the last of him. Obviously he upsets the hun, which is no bad thing, but Cetlc fans are embarrassed. The comments are hilarious - 70/80% socks?

The only one worth reading now is thecelticblog - at least that author doesn't come across as some kind of self-appointed minor deity.

Phil Madeupname needs a spell checker. He also would have us believe he actually has a mole on the hun board. Aye. so you do.

Reminds me of when I worked at TEAMtalk.com at the start of my foray into journalism. I was struggling for a story to make up the numbers and my editor literally told me to 'make something up'. I did as I was told and it didn't feel good. PM and JJ have been doing it so long now that I don't think they realise they're doing it any more.

[Bostonhibby]

http://forum.rangersmedia.co.uk/topic/253263-bond-holders/
Oh dear, that's terrible,how could something like that happen?
Terrible, especially as we have all been assured they are still the same club.

The now defunct Glasgow rangers, the dead club that keeps on giving

[CropleyWasGod]

Have you got the link wrong, mate? That thread is 4 years old.

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[brianmc]

Terrible, especially as we have all been assured they are still the same club.

The now defunct Glasgow rangers, the dead club that keeps on giving

That thread is from almost 4 years ago though.
Haven't we a more up to date interpretation of any recent events?

[Bostonhibby]

That thread is from almost 4 years ago though.
Haven't we a more up to date interpretation of any recent events?
No idea, just picked up on the opportunity offered to kick a dead parrot when it was down.

[Catch22]

I thought I deleted the link before anyone noticed. Too quick to post too slow to delete. Too much to drink.

[Bostonhibby]

I thought I deleted the link before anyone noticed. Too quick to post too slow to delete. Too much to drink.
I never miss an opportunity [emoji6]

Probably said something similar first time around as well.

[Mantis Toboggan]

The piece about the SNP has been removed in its entirety. That the editor of a blog would exercise such self-censorship finally extinguishes what minute amount of credibility/authority he ever had.

I think there's a decent argument to be made that that whole thing was just a money-making exercise. I simply don't believe he got an Osman letter. The incessant begging was utterly embarrassing but, in retrospect, maybe we should be tipping our hat to a semi-decent scammer?

Either way, I hope we've heard the last of him. Obviously he upsets the hun, which is no bad thing, but Cetlc fans are embarrassed. The comments are hilarious - 70/80% socks?

The only one worth reading now is thecelticblog - at least that author doesn't come across as some kind of self-appointed minor deity.

Phil Madeupname needs a spell checker. He also would have us believe he actually has a mole on the hun board. Aye. so you do.

Reminds me of when I worked at TEAMtalk.com at the start of my foray into journalism. I was struggling for a story to make up the numbers and my editor literally told me to 'make something up'. I did as I was told and it didn't feel good. PM and JJ have been doing it so long now that I don't think they realise they're doing it any more.

As previously discussed, when he goes beyond questionable Rangers info he is a complete embarassment. The language in the original snp article was quite incredible. "Rugmunchers" FFS!

Yes the demands for money do now in retrospect look like a scam. Obviously I never gave him anything other than occasional unpublished comments pointing out how demented he is.

[Fuzzywuzzy]

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-39535676

Gotta love the logic of 'the fans didn't like it so we tore them up'

[Mr White]

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-39535676

Gotta love the logic of 'the fans didn't like it so we tore them up'

Hearts will be looking at the outcome of this case with interest hoping they can do the same with a few coaching and playing staff contracts signed in the last 6 months.

[Is It On....]

"We had the Petrofac Training Cup [Scottish Challenge Cup] success at Hampden" Mark Warburton. I think that the Sevco fans will be in meltdown at that comment 😂

[Bostonhibby]

Hearts will be looking at the outcome of this case with interest hoping they can do the same with a few coaching and playing staff contracts signed in the last 6 months.
It seems some Yams are not overly pleased with the design of Mrs budges new stand they are paying for. Maybe they should wait till it's finished then refuse to pay for the final stage citing the the's approach as authority for doing so.

[Deansy]

"We had the Petrofac Training Cup [Scottish Challenge Cup] success at Hampden" Mark Warburton. I think that the Sevco fans will be in meltdown at that comment 😂

If that line is from the 'BBC Weegie's 'Mark warburton no quick fix with Celtic' article, I love his cute one after it -

'When we left, I think we were one point off second place ..........'

Craftily omitting they were also 30 (yup - THIRTY !!) points behind Septic which, as everyone knows, the ONLY single solitary issue that matters to the Hun

[magpie1892]

If that line is from the 'BBC Weegie's 'Mark warburton no quick fix with Celtic' article, I love his cute one after it -

'When we left, I think we were one point off second place ..........'

Craftily omitting they were also 30 (yup - THIRTY !!) points behind Septic which, as everyone knows, the ONLY single solitary issue that matters to the Hun

St Johnstone are fair reeling them in now. Just three points the difference now and most likely stay that was after hun lose at Pittodrie tomorrow. How good would that be, given that it seems to be a given that hun were going to be allowed to play in Europe despite being in breach of just about every FFP regulation you can imagine.

I reckon, with a bit of luck, Celtc might be able to make the gap 50 points come season's end...

[Ozyhibby]

St Johnstone are fair reeling them in now. Just three points the difference now and most likely stay that was after hun lose at Pittodrie tomorrow. How good would that be, given that it seems to be a given that hun were going to be allowed to play in Europe despite being in breach of just about every FFP regulation you can imagine.

I reckon, with a bit of luck, Celtc might be able to make the gap 50 points come season's end...

Would be funny if it was #55[emoji23]


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[Is It On....]

Would be funny if it was #55[emoji23]


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That would be really funny..as will Disco Dave's mandatory offer in the next week for all shares he doesn't own at 20p per share. Can't wait for the next installment in this long running pantomime..

[Ozyhibby]

http://www.scottishfa.co.uk/resources/documents/ClubLicensing/2017/230317CL%20current%20status.pdf

Interesting. Updated on March 30th and Sevco UEFA license status down as n/a?
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[Oscar T Grouch]

http://www.scottishfa.co.uk/resources/documents/ClubLicensing/2017/230317CL%20current%20status.pdf

Interesting. Updated on March 30th and Sevco UEFA license status down as n/a?
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Interesting that only Hibs and Celtic score golds for all three tests, Celtic are overall platinum and Hibs overall Silver. The N/A for the huns will be until the SFA find a way to let them play in Europe despite their dodgy finances :wink:

[jgl07]

Interesting that only Hibs and Celtic score golds for all three tests, Celtic are overall platinum and Hibs overall Silver. The N/A for the huns will be until the SFA find a way to let them play in Europe despite their dodgy finances :wink:
Hibs are also an N/A for EUFA licence yet competed in the Europa this year.

Puzzling?

[JeMeSouviens]

Hibs are also an N/A for EUFA licence yet competed in the Europa this year.

Puzzling?

And are still in the cup so a possible for next year. :wink:

[Alan62]

Interesting that only Hibs and Celtic score golds for all three tests, Celtic are overall platinum and Hibs overall Silver. The N/A for the huns will be until the SFA find a way to let them play in Europe despite their dodgy finances :wink:

It's quite a puzzling document all round. Pleasing to see the 'big team' getting 'Entry' level qualification standard though. :wink:

[Oscar T Grouch]

Hibs are also an N/A for EUFA licence yet competed in the Europa this year.

Puzzling?

Does say inspection was May 2016, must have been before that special day last may :greengrin still you'd assume like last year we have no problems getting access to Europe.

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170410/015c53faf457641aeccbb78c27d625f2.jpg
2 days to go. [emoji6]


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[BegbieHSC]

Am I right in thinking that Sevco officially have a co-efficient of zero anyway?

[CropleyWasGod]

Does say inspection was May 2016, must have been before that special day last may :greengrin still you'd assume like last year we have no problems getting access to Europe.
Chance are that, at that point, NA meant "not applied". Given that both Rangers and Hibs were still in the same league, albeit still in the Cup, there was no need to apply.
Once we won the Cup, we would have applied.

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[Keith_M]

https://uploads.tapatalk-cdn.com/20170410/015c53faf457641aeccbb78c27d625f2.jpg
2 days to go. [emoji6]


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Ignore the JJ and Phil MaGobin crap, this is the only thing that currently matters.


"It's the fi-nal countdown...."

[jgl07]

Am I right in thinking that Sevco officially have a co-efficient of zero anyway?
Not quite.

They will recieve the Scottish Country Coefficient of 3.785.

Hibs will be on 4.785 should they qualify.

[Deansy]

Interesting that only Hibs and Celtic score golds for all three tests, Celtic are overall platinum and Hibs overall Silver. The N/A for the huns will be until the SFA find a way to let them play in Europe despite their dodgy finances :wink:


THAT is going to be the grand-daddy of all the belters the GFA have come out with in their allegiance to the Hun - can just picture them now, hard at work at Hampden, all gathered around the table trying to come up with anything plausible -

Regan - 'Right, anything yet, lads ?'

GFA 'Hun Lies & Propaganda' dept - 'Sorry boss, piece o' p*ss for a statement Rangers fans will swallow obviously, but we're really struggling for one the rest of the Scottish Footballing public WON'T be able to read without absolutely wetting themselve ! You know the type, the type who actually went to school, the ones who's parents AREN'T brother and sister, the ones who know that Tuesday follows Monday etc. In other words - your typical average intelligent human-being that walks upright - it's those sort of b******s that are giving us a headache !'

Regan - Well, you'll just have to try harder if you DON'T want to have both Mr King and Mr Traynor issuing their own joint-statement - which will be short on facts but long on details ................of each and every one of you's home-addresses, phone-numbers, bank-details, car reg-numbers, schools your children attend etc, etc do you ??'

GFA 'Hun Lies & Propaganda' dept - 'Working boss, working ..............'

[Eyrie]

Has anyone else noticed that Sevco achieved their "going for 55" target when they beat Aberdeen at the weekend?

Celtic 90 pts
Aberdeen 64 pts
Sevco 55 pts
St Johnstone 49 pts

http://www.bbc.co.uk/sport/football/scottish-premiership/table

[CropleyWasGod]

Right, we're back on this thread. Craigy's trial starts tomorrow.

Donald Finlay is defending him. Will SDM sleep tonight? 😉

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[grunt]

Right, we're back on this thread. Craigy's trial starts tomorrow.
Donald Finlay is defending him. Will SDM sleep tonight? 😉
And Craigy has opened a Twitter account so he can tweet about the trial.

https://twitter.com/CraigWhyte22

[Is It On....]

Right, we're back on this thread. Craigy's trial starts tomorrow.

Donald Finlay is defending him. Will SDM sleep tonight? 😉

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The other thread on Disco Dave and The Take-over Panel was a nice wee side project but it's good to be back to the main event 😉

[Hibernia&Alba]

Right, we're back on this thread. Craigy's trial starts tomorrow.

Donald Finlay is defending him. Will SDM sleep tonight? 😉

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There's a surprise. Will he give it The Sash at the opening of proceedings?

Let's hope it's very messy and opens many cans of worms :agree:

[Kojock]

Right, we're back on this thread. Craigy's trial starts tomorrow.

Donald Finlay is defending him. Will SDM sleep tonight? 😉

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Restless night going by this tweet,

Craig Whyte‏ @CraigWhyte22
Looking forward to being in Glasgow later this week. After years of inaccurate commentary and speculation the truth will come out!

[jacomo]

And Craigy has opened a Twitter account so he can tweet about the trial.

https://twitter.com/CraigWhyte22


Entrepreneur. Business turnaround strategist. Former owner Rangers FC.

Lol.

[CropleyWasGod]

Entrepreneur. Business turnaround strategist. Former owner Rangers FC.

Lol.
It's a parody. Check the initials of the first four words 😂

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[Hibernia&Alba]

Entrepreneur. Business turnaround strategist. Former owner Rangers FC.

Lol.

Liar, thief, conman :agree:

[ACLeith]

Liar, thief, conman :agree:

That's enough about SDM, what about CW?

[brog]

Apparently Craigie's trial has started. MSM seems to have fallen asleep again. Anyone got any info.

[Moulin Yarns]

Apparently Craigie's trial has started. MSM seems to have fallen asleep again. Anyone got any info.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-39654397

STV and the DR also with the story

[brog]

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-39654397

STV and the DR also with the story

Ta! Should be fun.

[Ozyhibby]

For anyone wishing to be kept up to date, best bet is to follow James Doleman on Twitter. He gives very accurate live tweets and posts a summary up at the end of every day.
Judge said today that trial will last 12 weeks.


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[Billy Whizz]

For anyone wishing to be kept up to date, best bet is to follow James Doleman on Twitter. He gives very accurate live tweets and posts a summary up at the end of every day.
Judge said today that trial will last 12 weeks.


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12 weeks, what a cost to tax payers money

[brog]

12 weeks, what a cost to tax payers money

Just wait until they start bringing in the 4,000 Hibbies who were on the pitch!

[silverhibee]

12 weeks, what a cost to tax payers money


Nothing compared to the Scottish Police witch hunt that has being going on since last May.

[Ozyhibby]

12 weeks, what a cost to tax payers money

Tax man is already in a £70m hole on this debacle anyway, what's another few million. [emoji3]



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[silverhibee]

WHYTE IN COURT Jury at ex-Rangers owner Craig Whyte’s trial has been asked if they are Gers supporters ahead of the case
The businessman faces two allegations relating to the 2011 acquisition of Rangers and arrived at the High Court in Glasgow this morning

THE jury at Craig Whyte’s trial has been asked if they are Rangers supporters ahead of the case.

A panel of eight men and seven women were chosen from potential jurors yesterday (Thursday).

After selection they were read the two charges against 46-year-old before being sworn in.

Whyte faces a fraud allegation over his 2011 takeover as well as a charge under the Companies Act.

But before evidence was heard Judge Lady Stacey asked jurors to consider any connections to the club

She said: “First of all do you know Mr Whyte personally or do you know anyone personally who you think is going to be a witness in this case?

“At the time between 2010 and 2011 were you a shareholder, a bond holder or a season ticket holder in Rangers?”

She said any juror who found themselves “in difficulty” could tell her clerk. Following a short break it was confirmed no jurors had to be replaced.

No witnesses were called to give evidence today and a joint minute – agreed facts between the prosecution and defence – was instead read out to jurors.

This contained 19 points mainly consisting of details of organisations – including Rangers, banks and law firms – mentioned in the charges.

The first witness is expected to take to the stand tomorrow.

It is alleged Whyte pretended to then Rangers owner Sir David Murray, and others, that funds were available to make all required payments to acquire a “controlling and majority stake” in the club – including clearing an £18million bank debt, £2.8million for the “small tax case” liability, a £1.7million health-and-safety liability and £5million for the playing squad.

The Crown alleges Whyte had only £4million available from two sources at the time but took out a £24million loan from Ticketus against three years of future season ticket sales “which was held subject to an agreement or agreements being entered into between the club and Ticketus after said acquisition”.

The second charge under the Companies Act centres on the £18million payment between Whyte’s Wavetower company and Rangers to clear a Bank of Scotland debt.

Wearing a dark suit and red tie, a clean shaven Whyte listened to the proceedings from the dock.

He is being represented by Donald Finlay QC at the trial at the High Court in Glasgow, which is expected to last 12 weeks.

The Crown, led by Alex Prentice QC, are expected to open their case this morning.

[Billy Whizz]

WHYTE IN COURT Jury at ex-Rangers owner Craig Whyte’s trial has been asked if they are Gers supporters ahead of the case
The businessman faces two allegations relating to the 2011 acquisition of Rangers and arrived at the High Court in Glasgow this morning

THE jury at Craig Whyte’s trial has been asked if they are Rangers supporters ahead of the case.

A panel of eight men and seven women were chosen from potential jurors yesterday (Thursday).

After selection they were read the two charges against 46-year-old before being sworn in.

Whyte faces a fraud allegation over his 2011 takeover as well as a charge under the Companies Act.

But before evidence was heard Judge Lady Stacey asked jurors to consider any connections to the club

She said: “First of all do you know Mr Whyte personally or do you know anyone personally who you think is going to be a witness in this case?

“At the time between 2010 and 2011 were you a shareholder, a bond holder or a season ticket holder in Rangers?”

She said any juror who found themselves “in difficulty” could tell her clerk. Following a short break it was confirmed no jurors had to be replaced.

No witnesses were called to give evidence today and a joint minute – agreed facts between the prosecution and defence – was instead read out to jurors.

This contained 19 points mainly consisting of details of organisations – including Rangers, banks and law firms – mentioned in the charges.

The first witness is expected to take to the stand tomorrow.

It is alleged Whyte pretended to then Rangers owner Sir David Murray, and others, that funds were available to make all required payments to acquire a “controlling and majority stake” in the club – including clearing an £18million bank debt, £2.8million for the “small tax case” liability, a £1.7million health-and-safety liability and £5million for the playing squad.

The Crown alleges Whyte had only £4million available from two sources at the time but took out a £24million loan from Ticketus against three years of future season ticket sales “which was held subject to an agreement or agreements being entered into between the club and Ticketus after said acquisition”.

The second charge under the Companies Act centres on the £18million payment between Whyte’s Wavetower company and Rangers to clear a Bank of Scotland debt.

Wearing a dark suit and red tie, a clean shaven Whyte listened to the proceedings from the dock.

He is being represented by Donald Finlay QC at the trial at the High Court in Glasgow, which is expected to last 12 weeks.

The Crown, led by Alex Prentice QC, are expected to open their case this morning.

Surprised he didn't ask if any of them were Celtic supporters, or do you think that would have no bearing on proceedings?

[Ozyhibby]

https://www.byline.com/project/70/article/1598


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[Scott Allan Key]

Surprised he didn't ask if any of them were Celtic supporters, or do you think that would have no bearing on proceedings?

It's a conspiracy.

[silverhibee]

Surprised he didn't ask if any of them were Celtic supporters, or do you think that would have no bearing on proceedings?

15 people from Glasgow and surrounding areas being randomly picked, I'm sure a few of them have leanings towards both clubs, this trial should be no where near Glasgow high court, the trial should have been held at Edinburgh high court instead.

[Billy Whizz]

15 people from Glasgow and surrounding areas being randomly picked, I'm sure a few of them have leanings towards both clubs, this trial should be no where near Glasgow high court, the trial should have been held at Edinburgh high court instead.

You're right silver, normally a major trial is heard away from the area, the alleged crime was committed in!

[Eyrie]

Surprised he didn't ask if any of them were Celtic supporters, or do you think that would have no bearing on proceedings?

They'd be likely to acquit him of all charges, even if Whyte admitted everything in court.

[ACLeith]

You're right silver, normally a major trial is heard away from the area, the alleged crime was committed in!

Maybe SDM angling for a mistrial before his lies come out 😎

[AltheHibby]

they'd be likely to acquit him of all charges, even if whyte admitted everything in court.

lol.

[Ozyhibby]

https://www.byline.com/project/70/article/1597


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[jgl07]

https://www.byline.com/project/70/article/1597



Is James Doleman a Motherwell fan?

[Ozyhibby]

Walter Smith on the witness stand just now.


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[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170421/0704ef71d8fa5e83af055af0390c48f8.jpg


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[Smartie]

https://uploads.tapatalk-cdn.com/20170421/0704ef71d8fa5e83af055af0390c48f8.jpg


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FFS.

Only in Scotland, eh?

[pacorosssco]

FFS.

Only in Scotland, eh?

First rule of lodge club. There is no lodge club

[Iain G]

Surprised he didn't ask if any of them were Celtic supporters, or do you think that would have no bearing on proceedings?

Some of the juror list has been made public, clearly no Rangers connections:

Mr William Orange
Mr Edward Bear
Mr Ian Paisley
Mrs F T Pope
Miss Nigella Spackman
Mr Derry Swalls
Mr A Goram
Mr A Goram

[Moulin Yarns]

Some of the juror list has been made public, clearly no Rangers connections:

Mr William Orange
Mr Edward Bear
Mr Ian Paisley
Mrs F T Pope
Miss Nigella Spackman
Mr Derry Swalls
Mr A Goram
Mr A Goram

:greengrin

[Hibs Class]

Hope all the witnesses have had the perjury law and consequences explained to them. There's a need for more honesty than in a post-match interview with Chick Young.

[northstandhibby]

Walter Smith on the witness stand just now.


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Is he appropriately attired? Trouser leg rolled up and bared nipple?

glory glory

[Spike Mandela]

I am sure Uncle Walt, Sir David and The Glib and shameless liar won't have colluded to get their stories straight.:fibber:

[Ozyhibby]

I am sure Uncle Walt, Sir David and The Glib and shameless liar won't have colluded to get their stories straight.:fibber:

Of course, this happens in all trials. Up to the lawyers to catch them out.


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[snooky]

Is he appropriately attired? Trouser leg rolled up and bared nipple?

glory glory

Always wondered how Perry Mason won all his cases.

[JeMeSouviens]

Reading the indictment this seems to wholly be about (our hero) CW pretending to have the dough to buy the Huns and cover their liabilities in the first place?

Don't see how we're going to get much juiciness about the dodgy goings on, Sevco switcheroo, 5 way agreements etc. Sounds a bit anti-climactic tbh.

[Hibernia&Alba]

https://uploads.tapatalk-cdn.com/20170421/0704ef71d8fa5e83af055af0390c48f8.jpg


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Cross examination:

"Wattie, did The Rangers (We arra people, God save ra queen) dae anyfin wrang"?

"Naw, Donald"

"Gid. Ye can step doon. Nae further questions".


What a farce.

[Hibernia&Alba]

Some of the juror list has been made public, clearly no Rangers connections:

Mr William Orange
Mr Edward Bear
Mr Ian Paisley
Mrs F T Pope
Miss Nigella Spackman
Mr Derry Swalls
Mr A Goram
Mr A Goram

:top marks

Lead juror, Mr A Mason

[stantonhibby]

Cross examination:

"Wattie, did The Rangers (We arra people, God save ra queen) dae anyfin wrang"?

"Naw, Donald"

"Gid. Ye can step doon. Nae further questions".


What a farce.

Not so sure.....James Doleman has just tweeted an apparent discrepancy in Smith's recollection of a board meeting where he said that he was only there to discuss football matters but the minutes has him saying that " Administration would be a shambles"

[tamig]

Of course, this happens in all trials. Up to the lawyers to catch them out.


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And if anybody is capable of catching them out it's the pied piper.

[southsider]

Some of the juror list has been made public, clearly no Rangers connections:

Mr William Orange
Mr Edward Bear
Mr Ian Paisley
Mrs F T Pope
Miss Nigella Spackman
Mr Derry Swalls
Mr A Goram
Mr A Goram
Its going to be a hung jury 8-7.
Mr E. Rising Mr K Barry
Ms I A M Hoopy Mr A Stokes
Mr W.McNeil Mrs P K Head
Mr T O'Mally

[Iain G]

Its going to be a hung jury 8-7.
Mr E. Rising Mr K Barry
Ms I A M Hoopy Mr A Stokes
Mr W.McNeil Mrs P K Head
Mr T O'Mally

A Mr Timothy O'Tim was rejected from the jury for some reason...

[Ozyhibby]

Not so sure.....James Doleman has just tweeted an apparent discrepancy in Smith's recollection of a board meeting where he said that he was only there to discuss football matters but the minutes has him saying that " Administration would be a shambles"

https://uploads.tapatalk-cdn.com/20170421/fb911376424b28baa3cfb145387a9c1e.jpg

Smith starting to get caught out already.


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[Ozyhibby]

McCoist up now


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[JeMeSouviens]

McCoist up now


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"what happened next ... ?"

"ah know this one, Sue" :wink:

[Deansy]

15 people from Glasgow and surrounding areas being randomly picked, I'm sure a few of them have leanings towards both clubs, this trial should be no where near Glasgow high court, the trial should have been held at Edinburgh high court instead.

100% in agreement ! Couldn't Whyte's defence-team have asked for another location ?

[CropleyWasGod]

100% in agreement ! Couldn't Whyte's defence-team have asked for another location ?

Findlay's no stupid. He will have his reasons for agreeing to Glasgow.

[bringbackbenny]

@jamesdoleman

McCoist says "there were players he wanted to sign, mentions Grant Holt and "a lad who played in Israel."
Says offers made were "unrealistic

http://www.hibs.net/images/smilies/thumbs%20up.gif

[Bostonhibby]

"what happened next ... ?"

"ah know this one, Sue" :wink:
Is the answer princess Anne? Either that or Bill Beaumont.

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[Deansy]

'Smith says no discussion of administration by directors while he was present. Only at meeting to report on football matters'

Minutes state "Mr Smith says the prospect of administration would be a shambles"

'Witness says no recollection of discussion' :fibber:

Aye Waldo, very believeable ..............

[Hibernia&Alba]

'Smith says no discussion of administration by directors while he was present. Only at meeting to report on football matters'

Minutes state "Mr Smith says the prospect of administration would be a shambles"

'Witness says no recollection of discussion' :fibber:

Aye Waldo, very believeable ..............

Who was it who once faked dementia on the witness stand in a high profile case? Was it the Guinness case? Clever move Wattie :greengrin

[CropleyWasGod]

Who was it who once faked dementia on the witness stand in a high profile case? Was it the Guinness case? Clever move Wattie :greengrin

Ernest Walter Saunders (born 21 October 1935) is a British former business manager, best known as one of the "Guinness Four", a group of businessmen who attempted fraudulently to manipulate the share price of the Guinness company. He was sentenced to five years' imprisonment, but released after 10 months as he was believed to be suffering from Alzheimer's disease, which is incurable. He subsequently made a full recovery.

[Hibernia&Alba]

Ernest Walter Saunders (born 21 October 1935) is a British former business manager, best known as one of the "Guinness Four", a group of businessmen who attempted fraudulently to manipulate the share price of the Guinness company. He was sentenced to five years' imprisonment, but released after 10 months as he was believed to be suffering from Alzheimer's disease, which is incurable. He subsequently made a full recovery.

That's the one - cheers.

[stantonhibby]

McCoist was just asked who the Rangers Captain is and he said David Weir! Is he taking the P?

[Hibernia&Alba]

McCoist was just asked who the Rangers Captain is and he said David Weir! Is he taking the P?

His memory has failed him too? :hmmm:

[Moulin Yarns]

McCoist was just asked who the Rangers Captain is and he said David Weir! Is he taking the P?

Should stop heading the ball. Or stop being a heidtheba.

[PeeKay]

McCoist described himself to the court as a "football analyst". Well. there's a potential charge of perjury straight off.

[ancient hibee]

A Mr Timothy O'Tim was rejected from the jury for some reason...

Replaced by Mr.Mason Boyne from White Horse Close.

[Joe6-2]

Ernest Walter Saunders (born 21 October 1935) is a British former business manager, best known as one of the "Guinness Four", a group of businessmen who attempted fraudulently to manipulate the share price of the Guinness company. He was sentenced to five years' imprisonment, but released after 10 months as he was believed to be suffering from Alzheimer's disease, which is incurable. He subsequently made a full recovery.

Was his middle name really Walter?

[Joe6-2]

Should stop heading the ball. Or stop being a heidtheba.

Or just a dick!

[Ozyhibby]

https://thecelticblog.com/2017/04/blogs/smiths-courtoom-testimony-shines-a-bright-light-on-the-insanity-inside-ibrox/


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[jabis]

Ernest Walter Saunders (born 21 October 1935) is a British former business manager, best known as one of the "Guinness Four", a group of businessmen who attempted fraudulently to manipulate the share price of the Guinness company. He was sentenced to five years' imprisonment, but released after 10 months as he was believed to be suffering from Alzheimer's disease, which is incurable. He subsequently made a full recovery.

Remember working in the cafe Royale circle bar,some jiggerypokery about Guinness taking over Bells whiskey.
Promised that the offices would stay in Edinburgh.
They never......cheers Arthur,you lying git.

Anyway....Bells had a scratchcard competition,for a free drink,guy from the Scotsman newspaper comes in and says"here's the answer card"
Spent the rest of the week handing over bottles of whiskey😁

30 years ago ,dearie me 🍺

[Moulin Yarns]

Donald McIntyre is on the stand today Finance director under Craig Whyte :greengrin

[jgl07]

Was his middle name really Walter?

Yes but his surname was Schleyer. He was born in Austria.

[Moulin Yarns]

Court case continues today, this was a funny passage of proceedings




Email from Lloyd's to McIntyre, 9 May 2011, just assale is being completed. Loan and security transferred to Wavetower. £15m loancancelled
"All bank accounts across the groupmust be kept in credit, this must be completed today" "Brutal stuff,Findlay suggests

All electronic transfers canceled,including BACS system used to pay salaries

Findlay "Lloyd's severed all linkswith Rangers and said 'don't come back''" McIntyre "effectively,yes"

Findlay asks if Rangers board everdiscussed going into administration, McIntyre says "cropped up" in2010

McIntyre, "it would have been remissof us not to have discussions" Agreed administration discussed beforeWhyte came on scene

Board hoped "if Rangers said theycouldn't pay the revenue would just say 'oh well" Findlay suggestsMcIntyre disagrees

[Ozyhibby]

Court case continues today, this was a funny passage of proceedings




Email from Lloyd's to McIntyre, 9 May 2011, just assale is being completed. Loan and security transferred to Wavetower. £15m loancancelled
"All bank accounts across the groupmust be kept in credit, this must be completed today" "Brutal stuff,Findlay suggests

All electronic transfers canceled,including BACS system used to pay salaries

Findlay "Lloyd's severed all linkswith Rangers and said 'don't come back''" McIntyre "effectively,yes"

Findlay asks if Rangers board everdiscussed going into administration, McIntyre says "cropped up" in2010

McIntyre, "it would have been remissof us not to have discussions" Agreed administration discussed beforeWhyte came on scene

Board hoped "if Rangers said theycouldn't pay the revenue would just say 'oh well" Findlay suggestsMcIntyre disagrees


McIntyre also admitted that wee tax case was accepted as due in late 2010. Stewart Regan has previously said that it was still in dispute in 2011 and that is why old Rangers got license to play in Europe.
The head of the SFA caught lying to the benefit of Rangers, will our press pursue this? Will Celtic? They always said they needed a smoking gun, is this it?


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[Killiehibbie]

Remember working in the cafe Royale circle bar,some jiggerypokery about Guinness taking over Bells whiskey.
Promised that the offices would stay in Edinburgh.
They never......cheers Arthur,you lying git.

Anyway....Bells had a scratchcard competition,for a free drink,guy from the Scotsman newspaper comes in and says"here's the answer card"
Spent the rest of the week handing over bottles of whiskey😁

30 years ago ,dearie me 🍺Was that the cards that had fishing and golf on them?

[GreenLake]

Remember working in the cafe Royale circle bar,some jiggerypokery about Guinness taking over Bells whiskey.
Promised that the offices would stay in Edinburgh.
They never......cheers Arthur,you lying git.

Anyway....Bells had a scratchcard competition,for a free drink,guy from the Scotsman newspaper comes in and says"here's the answer card"
Spent the rest of the week handing over bottles of whiskey😁

30 years ago ,dearie me 🍺

Quite useful for cleaning car parts.

[CropleyWasGod]

Findlay is giving SDM a bit of a kicking thus far...and that's even before he gives evidence.

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[Moulin Yarns]

Findlay is giving SDM a bit of a kicking thus far...and that's even before he gives evidence.

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I'm warming to the Donald :greengrin

[CropleyWasGod]

I'm warming to the Donald :greengrin
One.wonders how much of this is personal.....

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[greenginger]

One.wonders how much of this is personal.....

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From the blue room at the top of the marble staircase to the stock car track in central Fife.

Anyone would be a little bit peeved ! :greengrin

[CropleyWasGod]

From the blue room at the top of the marble staircase to the stock car track in central Fife.

Anyone would be a little bit peeved ! :greengrin
Sounding like Kirsty McColl there.

It's not that far.....

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[HoboHarry]

One.wonders how much of this is personal.....

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I've always taken great pride in my neutrality in these type of situations so there isn't a hint of bias on my part - I will cheer on anyone who is giving SDM/Sevco a kicking......

[Ozyhibby]

https://johnjamessite.com/2017/04/25/the-sfa-fatally-compromised/


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[Moulin Yarns]

http://www.bbc.co.uk/sport/football/39709800

Let the cycle recommence http://www.hibs.net/images/smilies/winky.gif

As for the court case, stroke of Genius by Craig Whyte to employ Donald Findlay 'cos if anyone knows where the bodies are buried at Ibrox, it will be him. :greengrin

[Ozyhibby]

https://soundcloud.com/celticresearch/stewart-regan-speaking-in-2013-on-the-award-of-the-uefa-licence-in-2011?utm_source=soundcloud&utm_campaign=share&utm_medium=twitter

This does not tie with this
https://uploads.tapatalk-cdn.com/20170425/d6bdf9cbf736c13a7f1cf1a81f3020da.png

Only day 3 of a 12 week trial and already massive questions for the SFA to answer.


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[Ozyhibby]

http://www.celticquicknews.co.uk/mcintyre-witness-evidence-of-dos-scheme-tax-overdues/?utm_source=dlvr.it&utm_medium=twitter


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[magpie1892]

Ernest Walter Saunders (born 21 October 1935) is a British former business manager, best known as one of the "Guinness Four", a group of businessmen who attempted fraudulently to manipulate the share price of the Guinness company. He was sentenced to five years' imprisonment, but released after 10 months as he was believed to be suffering from Alzheimer's disease, which is incurable. He subsequently made a full recovery.

The only person in history to recover from Alzheimer's. Remarkable.

If it hadn't been such a cover up then the crown could have demanded his brain for autopsy. Better yet, have demanded it while the c*** was still alive.

[jabis]

Was that the cards that had fishing and golf on them?

Yup😁

[vincipernoi]

http://www.bbc.co.uk/sport/football/39709800

Let the cycle recommence http://www.hibs.net/images/smilies/winky.gif

As for the court case, stroke of Genius by Craig Whyte to employ Donald Findlay 'cos if anyone knows where the bodies are buried at Ibrox, it will be him. :greengrin


in that interview Henderson seems to getting mixed up between investing money and p*!&hing it up against a wall.

[Deansy]

https://soundcloud.com/celticresearch/stewart-regan-speaking-in-2013-on-the-award-of-the-uefa-licence-in-2011?utm_source=soundcloud&utm_campaign=share&utm_medium=twitter

This does not tie with this
https://uploads.tapatalk-cdn.com/20170425/d6bdf9cbf736c13a7f1cf1a81f3020da.png

Only day 3 of a 12 week trial and already massive questions for the SFA to answer.


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And the GFA will respond with massive lies !

[Jack Hackett]

https://soundcloud.com/celticresearch/stewart-regan-speaking-in-2013-on-the-award-of-the-uefa-licence-in-2011?utm_source=soundcloud&utm_campaign=share&utm_medium=twitter

This does not tie with this
https://uploads.tapatalk-cdn.com/20170425/d6bdf9cbf736c13a7f1cf1a81f3020da.png

Only day 3 of a 12 week trial and already massive questions for the SFA to answer.


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Problem is, who with any authority is going to ask them? These dicks are a law unto themselves. Unless UEFA step in, it'll be middle fingers up to the common herd.

[Fuzzywuzzy]

Problem is, who with any authority is going to ask them? These dicks are a law unto themselves. Unless UEFA step in, it'll be middle fingers up to the common herd.

You'd like to think that whytes team will be savvy enough to ask the pertinent questions. Ogilvie will be struck down with some mystery serious illness that will last the duration

[jacomo]

https://johnjamessite.com/2017/04/25/the-sfa-fatally-compromised/


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Thought this guy had retired from the field and was now living a new life under an assumed identity?

His sock puppets have good names - there's a TicToc (brings back fond memories of the Jambo meltdown mega thread) and, from this season, a 'scoosh' (sp, but still)

[SuperAllyMcleod]

Sounding like Kirsty McColl there.

It's not that far.....

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Ah, the fabulous Kirsty McColl - taken far too early.

[Ozyhibby]

https://thecelticblog.com/2017/04/blogs/a-day-in-court-that-leaves-david-murray-without-a-name/


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[magpie1892]

Thought this guy had retired from the field and was now living a new life under an assumed identity?

His sock puppets have good names - there's a TicToc (brings back fond memories of the Jambo meltdown mega thread) and, from this season, a 'scoosh' (sp, but still)

He said he was going to pack it in then changed his mind the next day. Guy is completely off the reservation. Claims to have received an 'osman' letter and that the police have informed his parents (?) about credible threats to his life. Do we assume he still lives at home then?

Started a fight with Phil McMadeupname and then deleted the post. Made libellous claims about the McCanns that were definitely legally actionable but he's such a nobody, the comments went unnoticed. Refuses to put advertising on his site despite his supposed '11 million hits' yet constantly begs for money in between telling us how great and fearless he is, and he deliberately uses obscure language in his writing that suggests his thesaurus is well-thumbed, and that regular words for stuff (like 'amount' instead of his constant use of 'quantum') are beneath him.

A total loser who seems to be a bit ill. Not even worth reading for the comedy value any more - it's the same crap day after day.

thecelticblog is probably the best of a bad bunch now.

[Is It On....]

I'm warming to the Donald :greengrin

Didn't he try to change his birthday to the day between the 11th and 13th of July?

[Is It On....]

Ah, the fabulous Kirsty McColl - taken far too early.

"There's a guy works down the chip swears he's Elvis" by Kristy McColl contains the line "he's a liar and I not sure about you" Mr Findlay may have listened to this recently as he is evoking the spirit of this classic with his questioning of ra peepul. 🙂

[Viva_Palmeiras]

18440

[Spike Mandela]

Mike Ashley's got his own fraud problems..........

https://www.thesun.co.uk/sport/football/3416540/newcastle-west-ham-raids-police-arrests-lee-charnley/

[Ozyhibby]

David Murray up first this morning.


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[Moulin Yarns]

Mike Ashley's got his own fraud problems..........

https://www.thesun.co.uk/sport/football/3416540/newcastle-west-ham-raids-police-arrests-lee-charnley/

On twitter

HMRC and police have raided the offices of Newcastle United and West Ham football clubs over suspected Income Tax and National Insurance fraud. Newcastle's Managing Director Lee Charnley has reportedly been arrested as part of the investigation.


HMRC say 180 officers involved in wave of raids + arrests across UK and France for football-related fraud - this is going to be massive

[Smartie]

Mike Ashley's got his own fraud problems..........

https://www.thesun.co.uk/sport/football/3416540/newcastle-west-ham-raids-police-arrests-lee-charnley/

Much as I dislike the Ibrox lot, I've always had the feeling that their tax shenanigans (and look at the consequences) were just the tip of the iceberg.

It will be very interesting indeed to see what becomes of this.

[brog]

David Murray up first this morning.


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That should be fun!

[Moulin Yarns]

Murray puts things in perspective.


Murray says he thinks the idea Rangers were in financial difficulties "have been hugely exaggerated" compares to Aberdeen and Hearts


Aye right then

[MrSmith]

Murray puts things in perspective.


Murray says he thinks the idea Rangers were in financial difficulties "have been hugely exaggerated" compares to Aberdeen and Hearts


Aye right then

the first indication that if Rangers are title stripped then guess who's next??? Jumbos will have a twitchy sphincter! lol :aok:

[Moulin Yarns]

Murray says club agreed to pay £2.8m over "small tax case"Says EBTs "were not contractual" and were "in the accounts"

Murray on EBTs: "Gave us the opportunity to get players we otherwise couldn't afford"

Murray: "It was important that whoever we sold it to preserved the continuity of what the club had achieved"

[Moulin Yarns]

Murray says he had seen proof of funds from Whyte's solicitors and "everything seemed fine "

Court now being shown email from Gary Withey to Murray's lawyer Oct 2010. Says "up to £33m of funding" available for the acquisition.

[Bostonhibby]

Murray says club agreed to pay £2.8m over "small tax case"Says EBTs "were not contractual" and were "in the accounts"

Murray on EBTs: "Gave us the opportunity to get players we otherwise couldn't afford"

Murray: "It was important that whoever we sold it to preserved the continuity of what the club had achieved"
So one set of tax evading law breaking, creditor bumping chancers handed the club over to a different set of villains thus ensuring continuity.

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[Is It On....]

Murray says club agreed to pay £2.8m over "small tax case"Says EBTs "were not contractual" and were "in the accounts"

Murray on EBTs: "Gave us the opportunity to get players we otherwise couldn't afford"

Murray: "It was important that whoever we sold it to preserved the continuity of what the club had achieved"

And yet the investigations by the authorities have previously said that it gave them no advantage 🤔

[Moulin Yarns]

And yet the investigations by the authorities have previously said that it gave them no advantage 🤔

It didn't if you consider the authorities only consider the Rangers and Celtc and nobody else.

[Moulin Yarns]

Murray confirms his shares were sold for £1. Says originally price was £4m but he wanted to ensure future funds for players


"We were trying to do what was in the best interests of the club" Says total value of deal £48M"

I wonder if my bank would do a deal in my best interests. "Here's pound, can I have £48million?"

court rises for a break. More like a piss-take.

[Ozyhibby]

the first indication that if Rangers are title stripped then guess who's next??? Jumbos will have a twitchy sphincter! lol :aok:

Absolutely, if they open investigation again the the Sevconians are going to engage in whataboutery. That's what we should hope for.


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[Is It On....]

Murray confirms his shares were sold for £1. Says originally price was £4m but he wanted to ensure future funds for players


"We were trying to do what was in the best interests of the club" Says total value of deal £48M"

I wonder if my bank would do a deal in my best interests. "Here's pound, can I have £48million?"

court rises for a break. More like a piss-take.

If he sold the equity of the business for £1 then the implicit debt was £48m to get to an Enterprise Value (Debt + Equity) of £48m. What a mess.

[CropleyWasGod]

If he sold the equity of the business for £1 then the implicit debt was £48m to get to an Enterprise Value (Debt + Equity) of £48m. What a mess.
I interpreted it as CW paying off the bank, plus his commitment to funding the playing squad, plus working capital, would equate to the deal being worth £48m to the club.

Edit.


....which has just been confirmed by SDM.

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[Moulin Yarns]

I interpreted it as CW paying off the bank, plus his commitment to funding the playing squad, plus working capital, would equate to the deal being worth £48m to the club.

Edit.


....which has just been confirmed by SDM.

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Murray says deal was £18m to bank £5m per year for players, £1.7m to refurbish stadium, £2.8m for "small tax case" £5m working capital

[Moulin Yarns]

Murray says if Whyte did not have the money at the time of the transaction he would have cancelled the deal

Murray "there was some tidying up to be done" but says Rangers could have carried on.

[Moulin Yarns]

Murray says Whyte "indicated he had his own source of funds" no mention of a 3rd party other than his own company, Liberty Capital

Murray "Up until today I've only been in the company of Mr Whyte 4 times"



Get used to it, you might end up sharing a cell :greengrin

[Moulin Yarns]

Document says Whyte has mentioned to Sir David Murray that a third party fund would be providing "a significant chunk of the financing"

Murray says he has no recollection of conversation

Court now being shown Share Purchase Agreement between Murray International, Wavetower ltd and Liberty Capital

[Dan Sarf]

https://www.theguardian.com/football/blog/2017/apr/26/the-forgotten-story-of-carlos-kaiser-footballs-greatest-conman

Now THAT is how to be a conman. (Don't miss the second reader's comment under the article!)

:greengrin

[Moulin Yarns]

Court now being shown Share Purchase Agreement between Murray International, Wavetower ltd and Liberty Capital


Murray says he wasn't present when Share Purchase Agreement signed :confused: Shurely Shome Mishtake

[Moulin Yarns]

Murray says if he knew the source of Whyte's funds was Ticketus "categorically we would not have done the deal"

Murray says the deal with Ticketus was "selling the future" and would be "unsubstainable"

Earlier on from this morning

On paying off the bank debt with future season ticket money Murray says "we could have done that ourselves"

So which is it SDM???





Murray says season tickets are "an asset to the club" and only the board could have approved transacting with season tickets