Generic Sevco / Rangers meltdown thread

[Jack Hackett]

It sounds like a Rights Issue.

Basically all existing shareholders buy more shares in the same ratio as they already hold.

....otherwise known as throwing good money after bad

[Keith_M]

Something to do with current shareholders buying up a further £43m pounds of shares to offset low season ticket sales.

I'm sure a .net financial whizz kid will be along shortly to explain.


Thanks.

I do remember some discussion previously about giving existing shareholders the opportunity to buy a new batch of shares at way below market price, possibly 1p per share. That would be an awful amount of shares to release.

[Weststandwanab]

....otherwise known as throwing good money after bad You may well be correct.

If they go down that road when you see how many existing shareholders take up the option then you will assess how good after the bad it really is.

[Spike Mandela]

Another fun summer in store.............

http://www.philmacgiollabhain.ie/share-option-authorised/

[Hibs07p]

Another fun summer in store.............

http://www.philmacgiollabhain.ie/share-option-authorised/

Could be good news for the poppy thieves, if they come out of admin. in time. :jamboak:

GGTTH

[Keith_M]

Another fun summer in store.............

http://www.philmacgiollabhain.ie/share-option-authorised/


Funnily enough, the MSM know about this but have failed to report it.

[The Pointer]

We've had enough of our own grief to worry about, but what news from the Rialto? The MSM have been strangely quiet on this for a couple of weeks with even The Herald's Richard Wilson not breaking wind.

[Green Reaper]

That article says the £43 million raised would cover 4 months running costs! How the hell are they needing £11 million a month to run a first div club...crazy... Serves them right if they go under again and I hope they do as I despise them as a club

[Ozyhibby]

That article says the £43 million raised would cover 4 months running costs! How the hell are they needing £11 million a month to run a first div club...crazy... Serves them right if they go under again and I hope they do as I despise them as a club

The article does not say the shares will be a pound each. No way they could raise £43m in a share issue. They would be doing well to raise £5m.

[Green Reaper]

Duh! I should read things more carefully before commenting........ Still despise them though!

[Keith_M]

That article says the £43 million raised would cover 4 months running costs! How the hell are they needing £11 million a month to run a first div club...crazy... Serves them right if they go under again and I hope they do as I despise them as a club


Leaving aside your arithmetic ;-)...

.. what article were you referring to? Do you have a link?

[Green Reaper]

Leaving aside your arithmetic ;-)...

.. what article were you referring to? Do you have a link?

As posted above by Spike:

http://www.philmacgiollabhain.ie/share-option-authorised/

[Keith_M]

As posted above by Spike:

http://www.philmacgiollabhain.ie/share-option-authorised/


Thanks.

[Spike Mandela]

Establishment corrupt to the core imo.......

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-28231598

[SteveHFC]

Establishment corrupt to the core imo.......

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-28231598

They should be removed from the Championship and they should give us a bye in the diddy cup :greengrin

[hibs0666]

They should be removed from the Championship and they should give us a bye in the diddy cup :greengrin

Time for Hibs to contact the porn-star tax advisor and investigate the use of this tax avoidance scheme.

[AndyM_1875]

Cant say i give a toss about Rangers or David Murray but am annoyed at how much public money HMRC have frittered away chasing this phantom debt.

But It really is time to move on.

[Spike Mandela]

Cant say i give a toss about Rangers or David Murray but am annoyed at how much public money HMRC have frittered away chasing this phantom debt.

But It really is time to move on.

That's exactly what the establishment want. Everything swept under the carpet, lots of wealthy individuals protected and made richer. Nice few 'loans' that will never be paid back, several titles won with money they avoided paying to the public purse.Job Done!

No doubt all the missing EBT documentation in the same shredder as the 114 missing files relating to paedophilia scandal at Westminster.

The UK establishment really takes us for a bunch of mugs.

[Lewis77]

That's exactly what the establishment want. Everything swept under the carpet, lots of wealthy individuals protected and made richer. Nice few 'loans' that will never be paid back, several titles won with money they avoided paying to the public purse.Job Done!

No doubt all the missing EBT documentation in the same shredder as the 114 missing files relating to paedophilia scandal at Westminster.

The UK establishment really takes us for a bunch of mugs.

Yet we all take it

[CropleyWasGod]

Cant say i give a toss about Rangers or David Murray but am annoyed at how much public money HMRC have frittered away chasing this phantom debt.

But It really is time to move on.
HMRC were never chasing the debt. Even if they had won this case, they would have got very little.

It was always about establishing a precedent to enable them to pursue other clubs who operated the same schemes and who do have money.

[Mellow Hibee]

That's exactly what the establishment want. Everything swept under the carpet, lots of wealthy individuals protected and made richer. Nice few 'loans' that will never be paid back, several titles won with money they avoided paying to the public purse.Job Done!

No doubt all the missing EBT documentation in the same shredder as the 114 missing files relating to paedophilia scandal at Westminster.

The UK establishment really takes us for a bunch of mugs.

I'm not sure what you mean by the establishment?

HMRC fought against an agressive avoidance scheme and took MIH to court twice to try to secure money (through other EBT cases) for the UK taxpayer.

[Bishop Hibee]

Has the EBT 'loophole' been closed or are other clubs free to use it? If not closed then it is something Hibs should look into.

[CropleyWasGod]

Has the EBT 'loophole' been closed or are other clubs free to use it? If not closed then it is something Hibs should look into.
It was closed some years ago.

[AndyM_1875]

HMRC were never chasing the debt. Even if they had won this case, they would have got very little.

It was always about establishing a precedent to enable them to pursue other clubs who operated the same schemes and who do have money.

Yep I know that. Similar schemes were operated by several current English Premiership & Championship clubs.

However chucking more money at this Rangers thing is wasting everyone's time and the public purse doesn't deserve any more of this.

[AndyM_1875]

That's exactly what the establishment want. Everything swept under the carpet, lots of wealthy individuals protected and made richer. Nice few 'loans' that will never be paid back, several titles won with money they avoided paying to the public purse.Job Done!

No doubt all the missing EBT documentation in the same shredder as the 114 missing files relating to paedophilia scandal at Westminster.

The UK establishment really takes us for a bunch of mugs.

The UK or Scottish establishment doesn't give a **** about a stupid Glasgow football team that ran up debts and became persona non grata in the post new Labour luvvie environment due to the behaviour of its fans & their bigotry. The Establishment never lifted a finger to help Rangers. Unlike Hearts where you had the first Minister of Scotland pressurising the Lithuanian Ambassador etc.

[CropleyWasGod]

Yep I know that. Similar schemes were operated by several current English Premiership & Championship clubs.

However chucking more money at this Rangers thing is wasting everyone's time and the public purse doesn't deserve any more of this.
That's how case law works, though.
Had HMRC won, the public purse would have benefitted by applying the precedent to those other clubs.

It's easy to say in hindsight that it was a waste of money.

[Spike Mandela]

The UK or Scottish establishment doesn't give a **** about a stupid Glasgow football team that ran up debts and became persona non grata in the post new Labour luvvie environment due to the behaviour of its fans & their bigotry. The Establishment never lifted a finger to help Rangers. Unlike Hearts where you had the first Minister of Scotland pressurising the Lithuanian Ambassador etc.

Aye, OK then.:cb

[Weststandwanab]

That's exactly what the establishment want. Everything swept under the carpet, lots of wealthy individuals protected and made richer. Nice few 'loans' that will never be paid back, several titles won with money they avoided paying to the public purse.Job Done!

No doubt all the missing EBT documentation in the same shredder as the 114 missing files relating to paedophilia scandal at Westminster.

The UK establishment really takes us for a bunch of mugs.

Just about correct!


HMRC were never chasing the debt. Even if they had won this case, they would have got very little.

It was always about establishing a precedent to enable them to pursue other clubs who operated the same schemes and who do have money.

We always knew that was the case.


Has the EBT 'loophole' been closed or are other clubs free to use it? If not closed then it is something Hibs should look into.

No we should not.

Thankfully it was closed awhile back - ask that man Dodds

[Mellow Hibee]

Yep I know that. Similar schemes were operated by several current English Premiership & Championship clubs.

However chucking more money at this Rangers thing is wasting everyone's time and the public purse doesn't deserve any more of this.

Just to be clear, the football clubs which were using EBT's make up a tiny minority of the companies that HMRC are going after. This isn't about football clubs (though they did go after Rangers and of course they aren't a fan of the football creditors rule).

In terms of unfairness and abuse of the system to make the wealthy wealthier, this is pretty bad. I personally hope that they appeal right to the lords if they are able to, and if they lose there then they pick another case and approach it from a different angle.

[ballengeich]

From what I understand, this verdict, like the FTTT judgment isn't entirely one-sided. The bulk of the HMRC appeal has been disallowed, but the I think the UTTT judge has directed some cases back to the lower tier for reassessment. Does anyone know if HMRC can go to a further appeal now, or do they have to wait for the revised UTTT result?

There was already some tax due after the FTTT verdict, but the media announced the news as if Rangers had been entirely cleared of liability. Expect a similar distortion in the papers tomorrow. There's also been a suggestion that Collyer-Bristow have had to make a large sum available to the creditors of the old club so Hun fury will be greater than ever.

[CropleyWasGod]

From what I understand, this verdict, like the FTTT judgment isn't entirely one-sided. The bulk of the HMRC appeal has been disallowed, but the I think the UTTT judge has directed some cases back to the lower tier for reassessment. Does anyone know if HMRC can go to a further appeal now, or do they have to wait for the revised UTTT result?

There was already some tax due after the FTTT verdict, but the media announced the news as if Rangers had been entirely cleared of liability. Expect a similar distortion in the papers tomorrow. There's also been a suggestion that Collyer-Bristow have had to make a large sum available to the creditors of the old club so Hun fury will be greater than ever.

You're right about it not being a clear "win", and that some of the issues have been sent back to the FTTT. If, as seems likely, those decisions go in favour of HMRC, that will put a dent (no idea how much) in the liquidation pot.

I have no idea if HMRC can take the remaining case to the Lords. Nothing has been mentioned in the media, unsurprisingly.

I didn't know about the CB thing. BDO were suing them, so perhaps they've come to a settlement?

[Keith_M]

You're right about it not being a clear "win", and that some of the issues have been sent back to the FTTT. If, as seems likely, those decisions go in favour of HMRC, that will put a dent (no idea how much) in the liquidation pot.

I have no idea if HMRC can take the remaining case to the Lords. Nothing has been mentioned in the media, unsurprisingly.

I didn't know about the CB thing. BDO were suing them, so perhaps they've come to a settlement?


HMRC are considering an appeal
(https://www.accountancylive.com/hmrc-loses-rematch-rangers-over-ebt)

[CraigHibee]

HMRC are considering an appeal
(https://www.accountancylive.com/hmrc-loses-rematch-rangers-over-ebt)

i hope they get it and win, always someone else's fault with that great dirty unwashed mob!

[Ozyhibby]

It does not matter one jot as they were liquidated.

[bighairyfaeleith]

It does not matter one jot as they were liquidated.
Exactly that club no longer exists. The fact the died for no good reason makes it even funnier.

[stoneyburn hibs]

The UK or Scottish establishment doesn't give a **** about a stupid Glasgow football team that ran up debts and became persona non grata in the post new Labour luvvie environment due to the behaviour of its fans & their bigotry. The Establishment never lifted a finger to help Rangers. Unlike Hearts where you had the first Minister of Scotland pressurising the Lithuanian Ambassador etc.


Rangers always have and will continue to have the erm most favours handed out to them.

[Lucius Apuleius]

Their supporters feel they have been hard done by. Now, what I don't understand and hopefully one of the intelligentsia will be along to assist, but if the judges have ruled that the EBTs were indeed loans why don't the hun just get them all to repay them? This would surely fix all their money problems.

[bighairyfaeleith]

Their supporters feel they have been hard done by. Now, what I don't understand and hopefully one of the intelligentsia will be along to assist, but if the judges have ruled that the EBTs were indeed loans why don't the hun just get them all to repay them? This would surely fix all their money problems.
Because they no longer exist, you can't pay back money to a dead man. Rangers are dead.

[BH Hibs]

Cue the mock outrage and we did nothing wrong witchhunt from them and their pals in the MSM. Every bit as paranoid as the other shower from the weedj.

[CropleyWasGod]

Because they no longer exist, you can't pay back money to a dead man. Rangers are dead.

"They" do still exist. The company that formerly owned the football club is still "in liquidation", which will continue until that process is complete.

BDO, as liquidators, are currently suing the club's former lawyers for £30m. If that succeeds, then yes, the money will be paid to your "dead man."

[CropleyWasGod]

It does not matter one jot as they were liquidated.

It does matter.

If the appeal succeeds, and HMRC have the resulting authority to pursue other companies, UK plc could be quids in.

And, they're not yet liquidated.

[ballengeich]

Their supporters feel they have been hard done by. Now, what I don't understand and hopefully one of the intelligentsia will be along to assist, but if the judges have ruled that the EBTs were indeed loans why don't the hun just get them all to repay them? This would surely fix all their money problems.

The new Hun incarnation is an entirely separate business from the one which was put into liquidation in 2012, so if any loans are ever repaid (don't hold your breath) the money would go into the trusts set up by the old club. The trusts were even separate from the old club so repayments wouldn't even benefit the creditors of the old club.

The club now operating out of Ibrox has no entitlement to anything relating to EBTs.

[bighairyfaeleith]

"They" do still exist. The company that formerly owned the football club is still "in liquidation", which will continue until that process is complete.

BDO, as liquidators, are currently suing the club's former lawyers for £30m. If that succeeds, then yes, the money will be paid to your "dead man."
Will the dead man pass it on to the rangers? No so who gives a ****. Rangers are dead, if they end up rich in death it won't help them

[bighairyfaeleith]

It does matter.

If the appeal succeeds, and HMRC have the resulting authority to pursue other companies, UK plc could be quids in.

And, they're not yet liquidated.
No but they are no longer a functioning football club. The two are not connected because they chose to run and hide.

[Ozyhibby]

It does matter.

If the appeal succeeds, and HMRC have the resulting authority to pursue other companies, UK plc could be quids in.

And, they're not yet liquidated.

That may matter more on the 'Tax payers alliance' forum. On a football forum, people are only really interested on the effect on the football team. In this case it's none because the old Rangers are dead.
:-)

[CropleyWasGod]

Will the dead man pass it on to the rangers? No so who gives a ****. Rangers are dead, if they end up rich in death it won't help them
As a taxpayer, I give one. The money will be passed on to me.

[cabbageandribs1875]

http://www.bbc.co.uk/news/uk-scotland-scotland-business-28957732


HM Revenue and Customs (HMRC) has been granted permission to appeal against a tax ruling over Rangers Football Club's use of employee benefit trusts (EBTs).



The ongoing tax claim has no impact on the current Rangers owners.


so who would a successful appeal have an impact on :confused: former players ?

[CropleyWasGod]

http://www.bbc.co.uk/news/uk-scotland-scotland-business-28957732


HM Revenue and Customs (HMRC) has been granted permission to appeal against a tax ruling over Rangers Football Club's use of employee benefit trusts (EBTs).



The ongoing tax claim has no impact on the current Rangers owners.


so who would a successful appeal have an impact on :confused: former players ?

It would have no impact on the former players.

It would have an impact on:-

1. the liquidation of the old owners of Rangers. A successful outcome would mean more of a payout to HMRC, and less to the other (smalle) creditors).

2. it would help HMRC in their actions in similar EBT cases against other companies.

[Spike Mandela]

http://www.bbc.co.uk/news/uk-scotland-scotland-business-28957732


HM Revenue and Customs (HMRC) has been granted permission to appeal against a tax ruling over Rangers Football Club's use of employee benefit trusts (EBTs).



The ongoing tax claim has no impact on the current Rangers owners.


so who would a successful appeal have an impact on :confused: former players ?

Forget Rangers, forget Sevco, forget football even. Rich men, powerful men and institutions were earning money beyond our wildest dreams and paying less tax than honest hard working people. HMRC need to keep their teeth into this like a pitbull.

[cabbageandribs1875]

It would have no impact on the former players.


well that's a bummer, billy dodds (amongst a host of others) will be happy chappy's :(

It would have an impact on:-

1. the liquidation of the old owners of Rangers. A successful outcome would mean more of a payout to HMRC, and less to the other (smalle) creditors).

2. it would help HMRC in their actions in similar EBT cases against other companies.


let's hope they reverse the scoreline from the previous round :agree:

[cabbageandribs1875]

Forget Rangers, forget Sevco, forget football even. Rich men, powerful men and institutions were earning money beyond our wildest dreams and paying less tax than honest hard working people. HMRC need to keep their teeth into this like a pitbull.



Mr Murray made a Mint :(

[Smartie]

It would have no impact on the former players.

It would have an impact on:-

1. the liquidation of the old owners of Rangers. A successful outcome would mean more of a payout to HMRC, and less to the other (smalle) creditors).

2. it would help HMRC in their actions in similar EBT cases against other companies.

3. it would send a massive STFU to the Rangers/Sevco fans who bizarrely still feel that they've been hard done by.

[Keith_M]

3. it would send a massive STFU to the Rangers/Sevco fans who bizarrely still feel that they've been hard done by.


:agree:


It's (h)unbelievable the amount of them that claim that Rangers (the company, whatever) should never have been liquidated and it's all HMRC's fault.

[grunt]

Alasdair Lamont ‏@BBCAlLamont 13m (https://twitter.com/BBCAlLamont/status/505242663223033856) Rangers announce plans to Stock Exchange to try to raise £4m by issuing new shares to existing shareholders at 20p each.

Rangers statement says they had "an unaudited cash balance of £4.258m at 30 June 2014" including £2.72m not currently available

If minimum subscription not reached "Company will be unable to pay its creditors as they fall due and the future will be uncertain...

...The Directors will immediately have to seek emergency financing which may or may not be available

Rangers also say they'll have to seek further external funding, the timing of which depends on success of this offer.

[tamig]

Alasdair Lamont ‏@BBCAlLamont 13m (https://twitter.com/BBCAlLamont/status/505242663223033856) Rangers announce plans to Stock Exchange to try to raise £4m by issuing new shares to existing shareholders at 20p each.

Rangers statement says they had "an unaudited cash balance of £4.258m at 30 June 2014" including £2.72m not currently available

If minimum subscription not reached "Company will be unable to pay its creditors as they fall due and the future will be uncertain...

...The Directors will immediately have to seek emergency financing which may or may not be available

Rangers also say they'll have to seek further external funding, the timing of which depends on success of this offer.

They're desperate. £4m to put a temporary plug in a dyke.

[Greenworld]

It would have no impact on the former players.

It would have an impact on:-

1. the liquidation of the old owners of Rangers. A successful outcome would mean more of a payout to HMRC, and less to the other (smalle) creditors).

2. it would help HMRC in their actions in similar EBT cases against other companies.
This is all about number 2 friend in Tax office tells me they are not that bothered about rangers its the gates that will open elsewhere ...

[grunt]

From Rangers statement to the Stock Exchange


Assuming full subscription, the Company will require additional external funding in the latter half of the current financial year in order to meet working capital requirements as a result of the cyclical nature of its business. At the minimum level of subscription additional working capital will be required towards the end of the current calendar year. This funding, could be sourced from lines of credit, other forms of short term finance or as a component of a further equity raise, in line with the strategy identified in the Business Review to re-build and re-establish Rangers as a stable, sustainable and successful business. There can be no certainty that such funding will be available on commercial terms or at all. Failure to secure such funding would be damaging to the business and may impair the value of the Ordinary Shares. The Open Offer is not underwritten. There can be no certainty as to the aggregate level of subscription for New Ordinary Shares. If the aggregate level of subscription is less than 15,000,000 New Ordinary Shares the Open Offer will not proceed and subscription monies will be returned to applicants. Should this occur, the Company will be unable to pay its creditors as they fall due and the future of the Company will be uncertain; The Directors will immediately have to seek emergency financing which may or may not be available.

[Iain G]

From Rangers statement to the Stock Exchange

Hopefully they are screwed! :D

[shagpile]

From Rangers statement to the Stock Exchange

Meaning, if their fans do not stump up---again--- then they will be looking at sevco mark2.

[greenginger]

Would they be looking at a 15 point or 25 point deduction if they have an insolvency event ?

Are "The Rangers" the same Club that went into administration in 2012 ?

Could be some contorted arguments about that one. :greengrin

[Keith_M]

Would they be looking at a 15 point or 25 point deduction if they have an insolvency event ?

Are "The Rangers" the same Club that went into administration in 2012 ?

Could be some contorted arguments about that one. :greengrin


It's a different company but the same Club Licence, therefore 25 point deduction. Them's the rules.

[greenginger]

It's a different company but the same Club Licence, therefore 25 point deduction. Them's the rules.


You are all just Rangers Haters ! :thumbsup:

[CropleyWasGod]

Would they be looking at a 15 point or 25 point deduction if they have an insolvency event ?

Are "The Rangers" the same Club that went into administration in 2012 ?

Could be some contorted arguments about that one. :greengrin

Definitely 25 points. Same club, different owners. The rules are explicit about that.

[Oscar T Grouch]

So the stock exchange statement is basically saying the rangers cannot survive without a further, fully subscribed share issue? When is the SFA and SPFL going to look into the situation of one of the biggest clubs in Scotland being skint just after the season is underway?

[semaj64]

So the stock exchange statement is basically saying the rangers cannot survive without a further, fully subscribed share issue? When is the SFA and SPFL going to look into the situation of one of the biggest clubs in Scotland being skint just after the season is underway?

Not only that I read that they also will need cash again in April, how are they still allowed to get way with loosing so much money, while the rest teams need to get by within their means!

[Callum_62]

and yet they just signed Boyd and Miller

Disgusting club

[tamig]

and yet they just signed Boyd and Miller

Disgusting club

And therein lies the answer to their current position. Carry on as though they are still a top club paying top wages. They had a fantastic opportunity to rebuild from scratch and grow organically with a heavy emphasis on youth. Green, McCoist and others soon put paid to that with their flawed transfer policy. Serves the gunts right.

[Spike Mandela]

http://www.philmacgiollabhain.ie/rifc-running-on-fumes/

[The Gorf]

You are all just Rangers Haters ! :thumbsup:
And.".................. ?

[greenginger]

And.".................. ?


And ?

Just anticipating the response from the Govan Grunts.

[Bishop Hibee]

Would certainly help us! Oldco, newco, still the same deluded arrogant followers.

[KeithTheHibby]

Shambles of a club who get what they deserve.

Instead of cutting their cloth accordingly when they were liquidated they continued to think they were a billy big time club and spend money on players ala Shiels, Black, Sandaza.
Not forgetting the £800k on Templeton.
Or the £750k per year wages for McCoist.

Hurry up and die soon.

[ScottB]

Every club should have to prove they have the funds to see out the season, if they can't they should be punished or relegated, as happened to Monaco in France.

[Keith_M]

Every club should have to prove they have the funds to see out the season, if they can't they should be punished or relegated, as happened to Monaco in France.


That would be too difficult to enforce. Nobody could be expected to forecast accurately how much they're going to get from things like Pay At The Gate punters or lucrative Cup Ties.

[CropleyWasGod]

That would be too difficult to enforce. Nobody could be expected to forecast accurately how much they're going to get from things like Pay At The Gate punters or lucrative Cup Ties.

It's been suggested here before that a Bond system could be used, whereby each club puts up £x to guarantee at least some recompense for the other clubs if they go bust during a season.

How much that would be set at, and how clubs would fund it..... .....:cb

[ScottB]

That would be too difficult to enforce. Nobody could be expected to forecast accurately how much they're going to get from things like Pay At The Gate punters or lucrative Cup Ties.

It is the model the French leagues use, so it mustn't be too hard.

Presumably you make a forecast of you likely income, and if your expenses are wildly out of whack with that, you're in trouble.


To an extent, a correctly run club is doing that sort of thing anyway, I'm sure Hibs have a rough figure of the income they expect to generate over the course of this season and have sat our budget accordingly. Rangers just seem to be pouring money down the drain with no thought given to how sustainable it is, so as said I don't think it would be hard for the league to judge whether a club can meet its financial obligations or not.

[Liberal Hibby]

Shambles of a club who get what they deserve.

Instead of cutting their cloth accordingly when they were liquidated they continued to think they were a billy big time club and spend money on players ala Shiels, Black, Sandaza.
Not forgetting the £800k on Templeton.
Or the £750k per year wages for McCoist.

Hurry up and die soon.

Notwithstanding the ludicrous salary for Sally I thought the main issue was that Green had walked off with several barrowloads of cash - including the proceeds of the previous share issue.

[tamig]

Notwithstanding the ludicrous salary for Sally I thought the main issue was that Green had walked off with several barrowloads of cash - including the proceeds of the previous share issue.

Chuckie and his cohorts did very well out of newco but the transfer policy has been unbelievable.

[HoboHarry]

That would be too difficult to enforce. Nobody could be expected to forecast accurately how much they're going to get from things like Pay At The Gate punters or lucrative Cup Ties.

I thought German clubs were subject to financial oversight on a seasonal basis?

[grunt]

Not sure if this has been posted here. Sorry if you've already seen it.
Ally McCoist interview.

http://m.stv.tv/sport/football/clubs/rangers/290070-rangers-will-not-be-able-to-pay-creditors-if-4m-share-offering-fails/

[Jack]

Not only that I read that they also will need cash again in April, how are they still allowed to get way with loosing so much money, while the rest teams need to get by within their means!

For April read Christmas is what I heard on the news.

[JJP]

Not sure if this has been posted here. Sorry if you've already seen it.
Ally McCoist interview.

http://m.stv.tv/sport/football/clubs/rangers/290070-rangers-will-not-be-able-to-pay-creditors-if-4m-share-offering-fails/

That's a man under serious strain. Won't be popular but it's not nice to see.

[weecounty hibby]

I normally like to be even handed, pragmatic and reflective on issues like this about football clubs. But in this case hurry up and die you disgusting, filthy, poisonous, despicable, cheating, robbing, bigoted, lowlife bunch of wife beating knuckle dragging plague on Scottish society *******s!
Yes, I am just in from the pub. But I would still say the same sober

[Callum_62]

Fingers crossed for a 25 point deduction, or worse

[Hibby70]

Sounds like 25 points would be the least of their worries. :)

[Keith_M]

From a comment in today's Herald article (before it's removed) :greengrin


"There's a hole in our bucket,
dear Ally, dear Ally,
there's a hole in our Bucket,
dear Ally, a hole."

"With what shall I mend it?
dear Graham, dear Graham,
with what shall I mend it?
dear Graham, with what?"

"You could use your wage packet,
dear Ally, dear Ally,
You could use your wage packet,
it must be big enough."

"You must be bl**dy jokin,
dear Graham, dear Graham,
You must be bl**dy jokin,
Ahv jist bought another Boat?"

"When can I get mair players?
dear Graham, dear Graham,
When can I get mair players?
the team's no good enough"

"Are you bein serious?
ya numpty, ya numpty,
Are you bein serious?
what part of 'we're fec-ked' don't you get?"

[southsider]

If a football club (or any business) keep selling more and more shares then does not the original share issue not get devalued to such an extent that they become almost worthless ? If a fan bought 100 shaes @ £1 each back in 2013 do the club have to send him or her 500 @20p in the new share issue ? Thanks for any help with this. GGTTH

[Weststandwanab]

If a football club (or any business) keep selling more and more shares then does not the original share issue not get devalued to such an extent that they become almost worthless ? If a fan bought 100 shaes @ £1 each back in 2013 do the club have to send him or her 500 @20p in the new share issue ? Thanks for any help with this. GGTTH

You are correct which is precisely why the current shareholders seem reluctant to buy more shares.

[Hibs Class]

If a football club (or any business) keep selling more and more shares then does not the original share issue not get devalued to such an extent that they become almost worthless ? If a fan bought 100 shaes @ £1 each back in 2013 do the club have to send him or her 500 @20p in the new share issue ? Thanks for any help with this. GGTTH

Existing shares would be devalued. All other things being equal, the value of each share (the value of the club divided by the number of shares) would go down due to their being more shares issued. The club don't give existing shareholders any more shares though. At most they give the existing shareholders the right to buy the new shares but they aren't obliged to do so.

[CropleyWasGod]

Existing shares would be devalued. All other things being equal, the value of each share (the value of the club divided by the number of shares) would go down due to their being more shares issued. The club don't give existing shareholders any more shares though. At most they give the existing shareholders the right to buy the new shares but they aren't obliged to do so.

That's the rub.

The intention, of course, is to grow the club so that its value rises, as does the value of each share.

However, there's only so much shecht that one can pile on to weeds, before one realises that they ain't gonna do owt but die. :greengrin

[Deansy]

That's a man under serious strain. Won't be popular but it's not nice to see.

What WOULDN'T be nice to see would be any of the 'SFA's 3-man Disciplinary-Panel' or their wives, children, families etc as they received 'Death-threats' and had to be given 'Security-advice' from the Police after this piece of human-filth, McCoist, set about releasing his animals on them under a laughable call for 'Transparency' - lots of things in life deserve some sympathy but this s*um deserves none whatsoever.

[cabbageandribs1875]

http://www.bbc.co.uk/news/uk-scotland-29050877

Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have £620,000 of club assets frozen.
Lawyers acting for Mr Ahmad claim he is owed a £500,000 bonus for the time he spent working at the Ibrox club

The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent.



just close them down i say :agree:

[Billy Whizz]

Rangers investor Mike Ashley bought naming rights of Ibrox Stadium for just £1
http://www.dailyrecord.co.uk/sport/football/prospective-rangers-owner-mike-ashley-4161063

[Keith_M]

Rangers investor Mike Ashley bought naming rights of Ibrox Stadium for just £1
http://www.dailyrecord.co.uk/sport/football/prospective-rangers-owner-mike-ashley-4161063


And Rangers even wasted a further 250 grand trying to get it back.


You couldn't make it up

:thumbsup:

[Billy Whizz]

Rangers big interview: Keith Jackson speaks to Sandy Easdale about the desperate financial position at Ibrox
http://www.dailyrecord.co.uk/sport/football/rangers-big-interview-keith-jackson-4161079

Latest shennagins on this

[jacomo]

Rangers big interview: Keith Jackson speaks to Sandy Easdale about the desperate financial position at Ibrox
http://www.dailyrecord.co.uk/sport/football/rangers-big-interview-keith-jackson-4161079

Latest shennagins on this

Not sure what the source is for the naming rights story, but Hunbelievable stuff once again. Given the lack of humility and blatant profiteering that's gone on since they went bust, I hope they go bust again. It won't teach any of those involved anything, but might encourage others to act in a more responsible fashion.

[lord bunberry]

Rangers investor Mike Ashley bought naming rights of Ibrox Stadium for just £1
http://www.dailyrecord.co.uk/sport/football/prospective-rangers-owner-mike-ashley-4161063

Ashley paid £1 officially, I wonder how much he paid Green on the side?

[Ozyhibby]

Ashley paid £1 officially, I wonder how much he paid Green on the side?

Wonder if Better Together will let them keep the pound.

[Smartie]

Wonder if Better Together will let them keep the pound.

:faf:

[Leithenhibby]

Wonder if Better Together will let them keep the pound.

:top marks

[Leith Mo]

This will sound like name dropping but anyway here goes. In the early 2000s I'd sometimes end up drinking in London round Blackfriars with Allan Brazil and his pal Malcolm Murray who went on to become chairman of Sevco. MM was a successful UK equity fund manager who liked a bevvy. One day he tells me "Yes that Hibs team if only you could have held them together for a couple of more years etc." in that OF blinkered manner of bemoaning the lack of competition in the league. Needless to say "I don't do rolling over" to paraphrase Sally so I verbally launched him and he left. MM is a dedicated Hun and it's true when he told them that he's always had season tickets for him & family. However not the person I'd put in charge of any Club even such a new one as TheRangers. I say this as part of the background of the directors Sevco have had since they launched in a way to try and show how they have stumbled along since birth. In fact I've recently left the Rutland (now the Huxley) and I saw a number of current Sevco directors past & present in my opinion on their way to some official meeting. They are in the brown stuff and I hope that the fan blows it back over them and down their throats to kill off the delusional protests once and for all.

[schinkenotto]

:faf:

Best joke of the evening!

[weonlywon6-2]

http://www.bbc.co.uk/news/uk-scotland-29050877

Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have £620,000 of club assets frozen.
Lawyers acting for Mr Ahmad claim he is owed a £500,000 bonus for the time he spent working at the Ibrox club

The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent.



just close them down i say :agree:


Im gonna get a job at rangers,they pay brilliant wages

[grunt]

http://www.bbc.co.uk/news/uk-scotland-29050877

Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have £620,000 of club assets frozen.
Lawyers acting for Mr Ahmad claim he is owed a £500,000 bonus for the time he spent working at the Ibrox club

The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent.

just close them down i say :agree:
Ahmed successful; funds arrested. The Rangers to appeal.

[GreenLake]

Ahmed successful; funds arrested. The Rangers to appeal.

Poor wee G's being Hunted by the debt collectors. :faf:

[jacomo]

Ahmed successful; funds arrested. The Rangers to appeal.

Sauce?

Tick Tock!

[grunt]

Sauce?

Tick Tock!

https://twitter.com/BBCBMcLauchlin

[Keith_M]

Wow, only 3 weeks into the season and they only have 1.2 mill left in the bank!

[jacomo]

https://twitter.com/BBCBMcLauchlin

:thumbs up:

[SMAXXA]

Falkirk for the league then

[Del Boy]

Not been following recent developments but can someone just tell me if they're likely to go bust again?
Would really cheer me up

[SMAXXA]

Not been following recent developments but can someone just tell me if they're likely to go bust again?
Would really cheer me up

Ok ahl tell ye, aye they are. Enjoy your wkend :-)

[Del Boy]

Ok ahl tell ye, aye they are. Enjoy your wkend :-)

Excellent! Thanks :)

[marti1875]

They really are right in the sh*t now! 1.2 million in the bank.....and £620,000 of that has now been frozen and they reporter said they have massive day to day running costs and bills to pay......

[Billy Whizz]

Think the closing date for the share issue is next Thursday. Going to be an interesting week for them

[Canongatehibs]

They really are right in the sh*t now! 1.2 million in the bank.....and £620,000 of that has now been frozen and they reporter said they have massive day to day running costs and bills to pay......

Indeed.

The Rangers FC could face the old winding up orders sooner than they think.

I'll try not to worry too much :-)

[marti1875]

Indeed.

The Rangers FC could face the old winding up orders sooner than they think.

I'll try not to worry too much :-)

Oh aye, i'll certainly not lose any sleep if they go mammaries up again! :greengrin

[NAE NOOKIE]

If they do go to the wall that's two massive Scottish clubs in the last few years. First Rangers and now The Rangers ... worrying :greengrin

Have to say there must be huge concern at Ibrox about this. Nothing to Parkhead mind you, they will be beside themselves with worry :greengrin:greengrin

[JJP]

Plenty of Sevconians won't be too concerned either. Aren't they starving the club to try and take it back from all the dodgy characters that have frequented their boardroom over the last few years?

[emerald green]

Plenty of Sevconians won't be too concerned either. Aren't they starving the club to try and take it back from all the dodgy characters that have frequented their boardroom over the last few years?

Don't you mean the last 100+ years?

[Eyrie]

Don't you mean the last 100+ years?

Sevco Huns have only been around for just over two years.

[HUTCHYHIBBY]

If they do go to the wall that's two massive Scottish clubs in the last few years. First Rangers and now The Rangers ... worrying :greengrin

Whats their next name going to be? The The Cannae Get A Loan Rangers?

[HUTCHYHIBBY]

Better than Glasg owe Rangers I suppose!

[cabbageandribs1875]

Im gonna get a job at rangers,they pay brilliant wages


the more cash that gets taken out of Sevco for salaries, the better :agree:



Ahmed successful; funds arrested. The Rangers to appeal.


good stuff :greengrin http://www.bbc.co.uk/news/uk-scotland-29087653 but i bet they still wiggle out of it :hmmm:

[jacomo]

They really are right in the sh*t now! 1.2 million in the bank.....and £620,000 of that has now been frozen and they reporter said they have massive day to day running costs and bills to pay......

Talent like Sally doesn't come cheap you know... actually, his level of talent normally does come cheap, but the generous peepul have made an exception in his case.

[GreenLake]

Plenty of Sevconians won't be too concerned either. Aren't they starving the club to try and take it back from all the dodgy characters that have frequented their boardroom over the last few years?

Hopefully they will manage to leap out of the frying pan into the fire.:greengrin

[grunt]

http://www.rangers.co.uk/news/headlines/item/7611-club-statement

[stokesmessiah]

What the hell would they be called this time?? The The Rangers? The Club Formerly Known As The Rangers? Maybe they could just do a Prince and change their name to a symbol?

[Mr White]

http://www.rangers.co.uk/news/headlines/item/7611-club-statement

RANGERS Football Club has tonight released the following statement:

“Further to the Stock Exchange announcement regarding the court action taken by Imran Ahmad against Rangers, whatever the outcome of the court process, we agree with Judge Lord Stewart when he told the court: 'This does not mean to say that insolvency is an actuality or is going to happen.'"


Nothing to see here move along now...

[grunt]

What the hell would they be called this time?? The The Rangers? Third Rangers?

[AndyM_1875]

As the SFA/SPFL view them as the same club (boring argument tbh) administration will be seen as Admin 2 by the beaks at Hampden and therefore it's not -15 points they'll get hit with its -25.

[Jack Hackett]

What the hell would they be called this time?? The The Rangers? The Club Formerly Known As The Rangers? Maybe they could just do a Prince and change their name to a symbol?

Further to this, I notice that all and sundry, including themselves...i.e. club crest, website etc...still refer to them as 'Rangers'. Am I missing something, or is there not a legal requirement for them to refer to the club by a different name as 'Rangers' are still in Liquidation?

[jacomo]

What the hell would they be called this time?? The The Rangers? The Club Formerly Known As The Rangers? Maybe they could just do a Prince and change their name to a symbol?

Swastika?

:dunno:

[BH Hibs]

As the SFA/SPFL view them as the same club (boring argument tbh) administration will be seen as Admin 2 by the beaks at Hampden and therefore it's not -15 points they'll get hit with its -25.

You can bet your arse they'll argue for minus 15 though

[snooky]

What the hell would they be called this time?? The The Rangers? The Club Formerly Known As The Rangers? Maybe they could just do a Prince and change their name to a symbol?

St Rangers? :wink:

[ScottB]

Further to this, I notice that all and sundry, including themselves...i.e. club crest, website etc...still refer to them as 'Rangers'. Am I missing something, or is there not a legal requirement for them to refer to the club by a different name as 'Rangers' are still in Liquidation?

I think until the original company is liquidated it has to be a different name.

[CropleyWasGod]

I think until the original company is liquidated it has to be a different name.
The name of the company that is in liquidation has to be different from the one that owns the club at the moment. I'm not certain, but I think the Oldco did change its name after it went into liquidation.

The current owners did buy the crest and the club name for a fiver, so they are entitled to call themselves Rangers. That process would be repeated in the event of a similar situation.

[Leithenhibby]

Fingers crossed. :cb



https://www.youtube.com/watch?v=D7Z_F6LffZE&feature=youtu.be

[Spike Mandela]

The name of the company that is in liquidation has to be different from the one that owns the club at the moment. I'm not certain, but I think the Oldco did change its name after it went into liquidation.

The current owners did buy the crest and the club name for a fiver, so they are entitled to call themselves Rangers. That process would be repeated in the event of a similar situation.

The current twitter hashtag for Germany v Scotland tonight is abbreviated to GERSCO which strikes me as the perfect name for a newly liquidated The Rangers. Perfect combination of Rangers, Sevco and Huns.:cb

[CropleyWasGod]

The current twitter hashtag for Germany v Scotland tonight is abbreviated to GERSCO which strikes me as the perfect name for a newly liquidated The Rangers. Perfect combination of Rangers, Sevco and Huns.:cb
😊 Gers cum

[GreenLake]

The current twitter hashtag for Germany v Scotland tonight is abbreviated to GERSCO which strikes me as the perfect name for a newly liquidated The Rangers. Perfect combination of Rangers, Sevco and Huns.:cb

Better to leave out the G and call them ERSCO.

[Bostonhibby]

Derangers? a gathering of their fans could be known as deranged.

[AndyM_1875]

You can bet your arse they'll argue for minus 15 though

Oh I'm sure they will but it won't matter. They made such a song and dance about how they are the same club that the League will say 'OK, you're the same club. Minus 25.'

It's Admin 2 and if it happened today they'd be bottom of the Championship on -16

[southern hibby]

Now I'm hoping for Liquidation for the newest team I'n Scotland. Really do hope they end up I'n the bottom tier like last time. Now that would make me smile.

GGTTH

[GreenLake]

If they recover from a second administration, what will be the punishment for a third administration? Permanent exclusion?

[jacomo]

Now I'm hoping for Liquidation for the newest team I'n Scotland. Really do hope they end up I'n the bottom tier like last time. Now that would make me smile.

GGTTH

For the avoidance of doubt, as they are so fond of saying, Dave King will surely ride to the rescue with his £30m in the event of the club going into administration again.

I mean, won't he?

[Deansy]

what the hell would they be called this time?? The the rangers? The club formerly known as the rangers? Maybe they could just do a prince and change their name to a symbol?

13429

fc ??

[Phil D. Rolls]

Now I'm hoping for Liquidation for the newest team I'n Scotland. Really do hope they end up I'n the bottom tier like last time. Now that would make me smile.

GGTTH

We're operating a pyramid system now, so what would the bottom tier be for them?

[Smartie]

We're operating a pyramid system now, so what would the bottom tier be for them?

Are we?

[JeMeSouviens]

The name of the company that is in liquidation has to be different from the one that owns the club at the moment. I'm not certain, but I think the Oldco did change its name after it went into liquidation.

The current owners did buy the crest and the club name for a fiver, so they are entitled to call themselves Rangers. That process would be repeated in the event of a similar situation.


:agree:

The Old Huns (SC004276) is now called RFC 2012 plc.

[LancashireHibby]

Are we?

IIRC the winners of the Highland League and Lowland League will play off against each other at the end of the season to decide who faces 10th spot in League Two in a straight play off to decide if anyone is promoted/relegated.

[Smartie]

Cheers for that.

No idea how but that has managed to completely pass me by until now.

[southern hibby]

We're operating a pyramid system now, so what would the bottom tier be for them?

Good point. Really not sure but if they go into liquidation, I can see an extra team getting promoted and whoever got liquidated taking their place I'n the bottom league.

If there is no punishment for liquidation but 15 or 25 points for administration then go straight to liquidation get debt written off and stay exactly as you are. Really can't see that happening unless the 25 points ( for servco ) and 15 points any other team who havn't been I'n admin include going into liquidation as well as administration.


GGTTH

[CropleyWasGod]

Good point. Really not sure but if they go into liquidation, I can see an extra team getting promoted and whoever got liquidated taking their place I'n the bottom league.

If there is no punishment for liquidation but 15 or 25 points for administration then go straight to liquidation get debt written off and stay exactly as you are. Really can't see that happening unless the 25 points ( for servco ) and 15 points any other team who havn't been I'n admin include going into liquidation as well as administration.


GGTTH
Missing a few points here :)

The penalty is for an insolvency event, so not just administration.

Liquidation means the ceasing of trade. Which means that the club stops playing.

Nice :)

[southern hibby]

Missing a few points here :)

The penalty is for an insolvency event, so not just administration.

Liquidation means the ceasing of trade. Which means that the club stops playing.

Nice :)


That's what I thought would still happen but was asked earlier why I thought they would end up I'n the bottom tier now it's a pyramid system. I was answering as I thought I had missed something about the pyramid system. Sorry if I'm confusing matters.

GGTTH

[weonlywon6-2]

One things for sure,they are on another shoogly peg,the end of this month come wage day could be interesting

[greenpaper55]

What's the bet that the establishment will see them alright ?.

[CropleyWasGod]

What's the bet that the establishment will see them alright ?.

In what way?

They didn't do them too many favours last time, IIRC :)

[DaveSo]

Only two home league games in the whole of September and October.
One against us on 29 September which is a Monday and televised so this will hit the gate figures.
At home in mid October to Raith Rovers so not many away fans there.
So that's just two home games to generate cash for two paydays in September AND October.
Not going to add up.
What a shame. :na na:

[Billy Whizz]

http://m.bbc.co.uk/news/uk-scotland-glasgow-west-29126451

Another twist

[jacomo]

Presumably Mike Ashley paid upfront for his merchandising deal... that money may now be gone, but Ashley won't want Rangers to go bust again because it will hurt shirt sales. With restrictions on him buying more shares, the most logical thing is for him to buy Ibrox from the club and then rent it back to them.

This would have long-term implications for Rangers but might be the only way forward. However, it might also lead to a fans boycott.

Alternatively, maybe they'll flog Murray Park?

[Off the bar]

Rangers fans looking to have Easdale removed from the board after apparently meeting with some Malaysian businessman who is wanted by interpol, sounds like a perfect fit, the only thing missing form this whole saga is a dodgy foreign owner, maybe a sign that they've run through all the domestic dodgy businessmen!

http://www.bbc.co.uk/sport/0/football/29150212

[Keith_M]

Missing a few points here :)

The penalty is for an insolvency event, so not just administration.

Liquidation means the ceasing of trade. Which means that the club stops playing.

Nice :)


Or the club name, licence, etc is sold to a new Company, as happened in 2012, and they then negotiate with the SFA/SPFL over which league they are allowed to join.

Which is also quite nice :wink:

[CropleyWasGod]

Or the club name, licence, etc is sold to a new Company, as happened in 2012, and they then negotiate with the SFA/SPFL over which league they are allowed to join.

Which is also quite nice :wink:

In many ways, they were lucky with the timing of the last fiasco. It enabled them to finish one season and start the next.

It would be even nicer if it all went t-up in mid-season.

[Keith_M]

In many ways, they were lucky with the timing of the last fiasco. It enabled them to finish one season and start the next.

It would be even nicer if it all went t-up in mid-season.


That would be quite funny, yeah.


:greengrin

[jacomo]

Rangers fans looking to have Easdale removed from the board after apparently meeting with some Malaysian businessman who is wanted by interpol, sounds like a perfect fit, the only thing missing form this whole saga is a dodgy foreign owner, maybe a sign that they've run through all the domestic dodgy businessmen!

http://www.bbc.co.uk/sport/0/football/29150212

Such a classy club.

[Newry Hibs]

Rangers settle over Imran Ahmad court action ....
http://www.bbc.com/news/uk-scotland-glasgow-west-29170975

Paid 'significantly' less than Ahmad wanted.

[Keith_M]

Rangers settle over Imran Ahmad court action ....
http://www.bbc.com/news/uk-scotland-glasgow-west-29170975

Paid 'significantly' less than Ahmad wanted.


:hmmm:


I wonder how much that particular Pig got from the Trough this time.

[southern hibby]

:hmmm:


I wonder how much that particular Pig got from the Trough this time.

Hopefully a lot, just means they've less to spend on wages.

GGTTH

[jacomo]

Rangers settle over Imran Ahmad court action ....
http://www.bbc.com/news/uk-scotland-glasgow-west-29170975

Paid 'significantly' less than Ahmad wanted.

Significantly more than they've got to spare though.

Who's speculating at 50%? That's £250k gone out of the £1.2m cash they've got, plus maybe a five figure sum towards legal expenses incurred so far?

It really is utterly unforgivable that they are back in a financial mess two years after forming as a new company.

[CropleyWasGod]

Significantly more than they've got to spare though.

Who's speculating at 50%? That's £250k gone out of the £1.2m cash they've got, plus maybe a five figure sum towards legal expenses incurred so far?

It really is utterly unforgivable that they are back in a financial mess two years after forming as a new company.

I forgive them.

[Malthibby]

I forgive them.

Me too; we must always forgive and hope they continue to blow every peent that comes their way.

[jacomo]

I forgive them.

That's very good of you. Can I ask why?

[jacomo]

http://www.theguardian.com/football/2014/sep/12/newcastle-united-mike-ashley-shares-rangers

Mike Ashley ain't getting involved in this share offer. I'm not surprised - the more desperate Rangers get, the easier it will be for him to buy Ibrox off the club!

[shagpile]

That's very good of you. Can I ask why?

Serious question? If it is ,read your own post again.

[CropleyWasGod]

That's very good of you. Can I ask why?

Because I think it's wonderful the way they are steaming through cash like there's no tomorrow. It gives us all a good laugh and, of course, gives Hibs a slightly better chance of avoiding relegation.

:cb

[southsider]

UEFA rules state that a person (or company) cannot have involvement in 2 or more clubs. As neither is playing in European competitions, Ashley could do so for a fews years but the SFA would need to change/alter their own rules.

[robinp]

UEFA rules state that a person (or company) cannot have involvement in 2 or more clubs. As neither is playing in European competitions, Ashley could do so for a fews years but the SFA would need to change/alter their own rules.

One of the papers said he can't own more than 5 or 10% of Rangers as he holds a controlling interest in another club, it is forbidden under UEFA and SPFL rules IIRC.

[Bishop Hibee]

Alasdair Lamont from the Beeb tweeting that Rangers raised £3.13m from the open share. One wag has already suggested it was from Ian Paisley's will!

[southsider]

He already owns 9% of rangers shares plus the rangers shops in Glasgow, Glasgow airport And Belfast (as well as naming rights to CGS). As well as, i believe a share in all the match day catering. A journo on radio scotland last night was trying to say he would sell his share of Newcastle Utd for up to £230,ooo,ooo and invest in the the rangers. Bit far fetched if truth be told but stranger things have happened.

[Keith_M]

Alasdair Lamont from the Beeb tweeting that Rangers raised £3.13m from the open share. One wag has already suggested it was from Ian Paisley's will!


I wonder how long that will keep them going.

How much do they need to pay back for the two emergency loans they took (Easdale and the Fan)?

[southsider]

Alasdair Lamont from the Beeb tweeting that Rangers raised £3.13m from the open share. One wag has already suggested it was from Ian Paisley's will!
Is the share issue now not cancelled ? As it was not underwritten and needed to raise £4 million they could not go ahead with this issue ???

[Col2]

Is the share issue now not cancelled ? As it was not underwritten and needed to raise £4 million they could not go ahead with this issue ???

They scraped enough together to get past the 75% mark they needed i think. I think they have loans of £1.5m to pay back immediately and now some cash needed for out of settlement for Ahmed. A wage bill of c£850k a month and i would guess this would cover them for sept and october and possibly november.

They want to use agm to approve wider share issue...so its living month by month approach...

[Keith_M]

After a one year hiatus, due to their shares being suspended, The Worthington Group plan to continue with their ownership claims (http://www.heraldscotland.com/news/home-news/rangers-ownership-row.25484705) over The Rangers in the courts.

They're the company closely associated with Sevco 5088 and Craig Whyte.

[CropleyWasGod]

After a one year hiatus, due to their shares being suspended, The Worthington Group plan to continue with their ownership claims (http://www.heraldscotland.com/news/home-news/rangers-ownership-row.25484705) over The Rangers in the courts.

They're the company closely associated with Sevco 5088 and Craig Whyte.

I'm too tight to pay for the Herald site. Are you able to cut and paste the article?

[Viva_Palmeiras]

From the Herald... (Admins pls remove if inappropriate)

RANGERS face fresh questions over their ownership after an investment company linked to disgraced former owner Craig Whyte said it would continue staking a legal claim over its business and assets.


The latest twist in Rangers' troubles came as a client of BNP Paribas Arbitrage SNC, the asset management wing of France's largest bank, became one of the club's big six shareholders by taking a 5.23 per cent stake.


The anonymous buyer has purchased 4.265 million shares sold by London-based investment managers Hargreave Hale.


It came on the day fans accused the Rangers board of being "incompetent" after it emerged certificates signed by former chief executive Charles Green and director Brian Stockbridge had been sent to shareholders involved in the recent open offer.


Union of Fans spokesman Chris Graham said: "It does not come as a huge surprise that this has not been done properly along with pretty much every other piece of governance within the club."


The legal action by Worthington Group, which has been connected to Whyte, appeared to disappear when the Financial Conduct Authority suspended trading in its shares at the company's request over a year ago.


But the ban was lifted over four weeks ago and now its chief executive Doug Ware has confirmed that the Rangers court case is back on the agenda.


It comes one year after auditors Deloitte flagged up the legal battle over ownership, saying it was a key uncertainty hanging over the Ibrox business. Rangers have consistently said Whyte's claims have no merit.


The case revolves around Whyte's allegations that Mr Green had acted as a "front man" for him to take control of the club - through the Sevco 5088 consortium that bought the liquidated assets of Rangers oldco RFC 2012 plc. Last year it emerged Worthington Group had 26 per cent of Law Financial Ltd, then one of Mr Whyte's companies and one which claims to have Sevco 5088 as one of its subsidiaries.


Included among Law Financial's assets was the legal action instigated by Whyte against Mr Green for the claim on Rangers' assets.


Mr Ware said yesterday: "Rangers litigation is a small and reducing part of our rapidly expanding investment portfolio.


"That said, the litigation will take its course and we'll have to see where it ends up, it's not on top of my agenda."


On Tuesday Whyte was barred from being a company director in the UK for 15 years. He has always insisted he was the main driver behind Sevco 5088.


Rangers assets were bought for £5.5 million in June 2012 and were transferred to a different company called Sevco Scotland, which then became The Rangers Football Club.


Whyte's main argument is that the transfer was illegal and Sevco 5088 remained the rightful owner of the club's assets.


Rangers said last night that their position remains the same as in May last year when it said it was preparing a "robust response" and that as legal proceedings were threatened it would not be appropriate to make public any further.


Mr Green has always denied he had ever been a "front man" for Mr Whyte.

[ancient hibee]

Interesting French purchase.Charles Green lives in France.

[Jack Hackett]

HeHeHe....a little something to lighten the long winter nights ahead

[CropleyWasGod]

Thanks for posting that up.

A couple of points:-

1. the share sale doesn't really help RFC in their current cash problems. However, as AH says, there could be a French-based move on les cartes.

2. the fact that Worthington are still pursuing their legal claim, and that RFC will have a "robust" defence, is not good news for the hordes. Cos that'll cost money. :cb

[Billy Whizz]

Interesting French purchase.Charles Green lives in France.

Thought it was Mike Ashley that bought these shares?

[Jack Hackett]

Thought it was Mike Ashley that bought these shares?

According to the BBC story, the shares were bought by BNP on Ashley's behalf

[Keith_M]

According to various papers, Dave King has been meeting (http://www.heraldscotland.com/news/home-news/king-back-at-ibrox-in-bid-to-save-crisis-club-rangers.25596629) with Graham Wallace to discuss an (alleged) £16M rescue package.


Apparently, the Easdales still favour Mike Ashley.

[Keith_M]

FULL ARTICLE:

DAVE King has returned to Ibrox in an attempt to push through a rescue bid for the crisis-hit club.

The South African-based businessman was pictured leaving the stadium after flying back to Scotland for talks with the League One champions' board.

The former director has been engaged in a long-running battle for control with the ruling regime at Ibrox and has recently found himself faced with a fresh rival in the shape of Newcastle United owner Mike Ashley, who has increased his stake in the Ibrox club to nine per cent.

It comes after it emerged Mr King had teamed up with Paul Murray and supporter George Letham to launch a £16 million investment plan.

Asked if he was optimistic his bid would be accepted, Mr King told Sky Sports News: "Yes we are."

Earlier this year Mr King, who lost £20 million when the Light Blues were liquidated in 2012, vowed to plough another £30m into the club in return for a controlling stake.

His rescue plan has been privately backed by chief executive Graham Wallace, while Sandy Easdale, the chairman of the club's football board, wants to forge ahead with Ashley.

It is understood neither Sandy Easdale nor his brother James were at the meeting following a family bereavement. It is Mr King's first public appearance in Glasgow since March.

Sandy Easdale owns 5.21 per cent of the club and holds proxies for another 20.94 per cent.

Rangers declined to comment.

[Phil D. Rolls]

Archive Editor
BBC North Britain
Benedict Arnold Boulevard
RATVILLE
NB

Sir,

Is it two days or three since you showed the picture of Dave King leaving Glasgow Airport, looking for the nearest toilet?

Jim Treanor
PLAINS

[jacomo]

FULL ARTICLE:

DAVE King has returned to Ibrox in an attempt to push through a rescue bid for the crisis-hit club.

The South African-based businessman was pictured leaving the stadium after flying back to Scotland for talks with the League One champions' board.

The former director has been engaged in a long-running battle for control with the ruling regime at Ibrox and has recently found himself faced with a fresh rival in the shape of Newcastle United owner Mike Ashley, who has increased his stake in the Ibrox club to nine per cent.

It comes after it emerged Mr King had teamed up with Paul Murray and supporter George Letham to launch a £16 million investment plan.

Asked if he was optimistic his bid would be accepted, Mr King told Sky Sports News: "Yes we are."

Earlier this year Mr King, who lost £20 million when the Light Blues were liquidated in 2012, vowed to plough another £30m into the club in return for a controlling stake.

His rescue plan has been privately backed by chief executive Graham Wallace, while Sandy Easdale, the chairman of the club's football board, wants to forge ahead with Ashley.

It is understood neither Sandy Easdale nor his brother James were at the meeting following a family bereavement. It is Mr King's first public appearance in Glasgow since March.

Sandy Easdale owns 5.21 per cent of the club and holds proxies for another 20.94 per cent.

Rangers declined to comment.

Just an idea, but if he's serious King could just try buying some shares. Isn't that how people normally take control of publicly listed companies?

[Cropley10]

Just an idea, but if he's serious King could just try buying some shares. Isn't that how people normally take control of publicly listed companies?

Except that gives money to the anonymous backers. And won't go to cash strapped club

However more importantly I didn't think FFP allow individuals to simply pump cash into Clubs anymore.

And finally, surely Dave King doesn't fly in he 'jets' in, and isn't he a 'tycoon'?


Sent from a phone

[Hibernia&Alba]

It's a disgrace the Orange Order and the BNP haven't worked together to save The Rangers 2012 before now. Where are the loyal when their club needs them?

[Keith_M]

TODAY'S HERALD UPDATE:
---------

RANGERS are believed to have just days to accept a £16 million rescue package offered by former director Dave King.

The deadline came as it emerged the controversial (dodgy) businessman has put up £8m of his own money in a bid to take control of the Championship club.

It is understood that, during talks at Ibrox on Tuesday, Mr King set out proposals to invest heavily in Rangers with half of the cash coming from his own pocket and the remainder from other investors, including wealthy fan and shareholder George Letham.

Mr King, a South Africa-based businessman, is believed to have committed to remaining in the UK for a week (you've gotta week or I'm outta here) as the board decides on its next move, with a large influx of cash needed ahead of an annual meeting that must be held before the end of the year.

There are concerns that Rangers do not have the money to see out the season, while it has also been suggested they may struggle to pay staff wages this month.

Sources close to Rangers say it is highly unlikely the club's auditor, Deloitte, would sign off its accounts ahead of the annual meeting, as they would have to be strong enough to show the club is in a healthy enough financial position to trade for another year, whereas it appears to need a significant cash injection. (Admin 2?)

In a further development, it is understood the Rangers board is also in contact with shareholder Mike Ashley, owner of Sports Direct and Newcastle United, who could offer his own rescue package as the power struggle (Fight!) over the club's future enters a crucial phase.

Mr Ashley, who owns almost 10 per cent of the club, is understood to oppose Mr King's comeback and is attempting to oust chief executive Graham Wallace and director Philip Nash.

The only other realistic option to raise cash is a fresh share issue. However, after a similar move last month raised little more than £3m, significantly less than had been targeted, analysts believe the club is more likely to turn to Mr King or Mr Ashley.

Rangers declined to comment (shockerooney!)

----------

Sarcastic comments in brackets are my own :wink:

[HIBERNIAN-0762]

It's a disgrace the Orange Order and the BNP haven't worked together to save The Rangers 2012 before now. Where are the loyal when their club needs them?

:tee hee:

[ballengeich]

Why would existing shareholders accept the offer? Their holdings will be halved and there will be no significant increase in the value of the business so they can expect share prices to drop 50%. I don't see Laxey, Ashley or the off-shore investors agreeing to that.

If for some reason the offer was accepted, a lot of the new money will disappear in covering this season's losses, so there's not as much new investment as it sounds at first glance. In addition, wouldn't the new controlling group have to offer to buy all other shares at the same price? That would mean more millions going to faceless institutions rather than into the club.

I think this offer's either designed to be rejected to give King PR as the man who tried to save the club, or it's an initial stance for further negotiations. I can't see it happening as reported.

[Keith_M]

Why would existing shareholders accept the offer? Their holdings will be halved and there will be no significant increase in the value of the business so they can expect share prices to drop 50%. I don't see Laxey, Ashley or the off-shore investors agreeing to that.

If for some reason the offer was accepted, a lot of the new money will disappear in covering this season's losses, so there's not as much new investment as it sounds at first glance. In addition, wouldn't the new controlling group have to offer to buy all other shares at the same price? That would mean more millions going to faceless institutions rather than into the club.

I think this offer's either designed to be rejected to give King PR as the man who tried to save the club, or it's an initial stance for further negotiations. I can't see it happening as reported.


There's no chance they would agree.

In most cases, it's the money they would lose but there's also 'the battle of the egos' in play here as well. The Easdales, for instance, would go back to having no influence at all in The Rangers and would have to return to their main business... of burning other people's buses.

[Big Frank]

Archive Editor
BBC North Britain
Benedict Arnold Boulevard
RATVILLE
NB

Sir,

Is it two days or three since you showed the picture of Dave King leaving Glasgow Airport, looking for the nearest toilet?

Jim Treanor
PLAINS


:faf:

[Bad Martini]

I must predicate my statements by confirming I have no source, I'm not an accountant and I dont have any crystal balls :greengrin to tell the future.

Stanard post disclaimer out the way, here it be:

1) "the" rangers of first division championship fame and trading for a few years in the lower reaches of Scottish football appear to have continued to pay their players, management and staff salaries not comensurate to their "level" in the pecking order of the footballing world...
2) This means they have taken out more than they are likely to have taken in
3) One cannot magic money from nowhere unless one adopts the Yamathematical model
4) Therefore, they are hopefully royally screwed <<< I picked these words with much due care and attention :greengrin

...and now I off to converse with the Almighty to improve our chances/only hope of ascension back to the top tier in Scotland, the brucie bonus being the permanent and repeated demise of "the" rangers.

I bid thee, Good Day :aok:

ENDOF

[Canongatehibs]

If i could give one i would.
But i dont give a F*** about anything that outfit say, do or anything else.

[WeeRussell]

If i could give one i would.
But i dont give a F*** about anything that outfit say, do or anything else.

Honestly?

I for one would give a massive f*** if they were to go under again. In fact - I'd maybe give enough of a f*** to go out and celebrate it.

[Keith_M]

If i could give one i would.
But i dont give a F*** about anything that outfit say, do or anything else.


That's a shame because, among other things, there's a potential 25 point penalty looming if they can't reach an agreement and go into Administration.

Even aside from the fun of watching it, that part could well benefit Hibs.




p.s. You care so little that you took the time to post on here telling us just that :wink:

[DaveSo]

No agreement with King and Newco.
What does this mean now ?

http://www.bbc.co.uk/sport/0/football/29731672

[Hibernia&Alba]

No agreement with King and Newco.
What does this mean now ?

http://www.bbc.co.uk/sport/0/football/29731672

Sounds like there's still the possibility of it happening. Surely administration again is the alternative?

[bingo70]

Fun as it is I'm not sure it's a great thing for Hibs if they were to go into admin again. They've got a better chance of catching hearts than we do and I'd fancy our chances in a 2 leg play off more against hearts than I would the rangers.

Them going to admin would go a fair way to gifting hearts the title imo.

[Keith_M]

No agreement with King and Newco.
What does this mean now ?

http://www.bbc.co.uk/sport/0/football/29731672

Interesting that it is described as 'a meeting'. Easdale was so interested that they only spoke by phone on the day King left.


Here are the (alleged) details of the conversation:

King: "So, Easdy, how's about ma offer then?"

Easdale "...yir Maw"

...click.

[jacomo]

No agreement with King and Newco.
What does this mean now ?

http://www.bbc.co.uk/sport/0/football/29731672

I'm not discounting the possibility that Dave King is a fantasist.

Maybe they now need to give Mike Ashley whatever he wants to stave off administration.

Where's Brian Kennedy? Is it time for Mr Quantum to put his 'consortium' back together?

[PatHead]

Must admit I thought King got most of his money back that he had invested in the old club and lost nothing like to £20m reported. Can anyone back me up on this?

I know he wouldn't be a Director but I never ceases to amaze me how convicted fraudsters/tax evaders are allowed to own football clubs.

[SHODAN]

Fun as it is I'm not sure it's a great thing for Hibs if they were to go into admin again. They've got a better chance of catching hearts than we do and I'd fancy our chances in a 2 leg play off more against hearts than I would the rangers.

Them going to admin would go a fair way to gifting hearts the title imo.

I wouldn't.

[NORTHERNHIBBY]

Looks like the The Rangers have jumped the gun on this one. Apparently he meets all the FTP criteria rather than FFP. Rethink on the cards.

[jacomo]

http://www.bbc.co.uk/sport/0/football/29749325

Seems Mike Ashley has offered emergency loan funds. In return he'll take over day to day running of the club. He's no mug.

Meanwhile, King ask to meet Ashley but didn't even get the courtesy of a reply. There are also certain, ahem, 'compliance' issues to be dealt with. King also complaining that Ashley using his influence as a shareholder to get his own way...

Messy. I think Ashley is going to win this one. He's treating King like a mug.

[bingo70]

Brian Kennedy come in with late offer

[Golden Bear]

Now reportedly interested in putting a large cash injection into the Rangers.

Wasn't this the same guy who was willing to plough funds into Hibs not so long ago?

[Keith_M]

Now reportedly interested in putting a large cash injection into the Rangers.

Wasn't this the same guy who was willing to plough funds into Hibs not so long ago?


http://www.heraldscotland.com/sport/spl/aberdeen/kennedy-wants-a-blessing-from-fans-for-hibs-takeover-easter-road-supporters-would-be-given-final-say-over-proposed-investment-plans-1.323287

[Sergey]

Now reportedly interested in putting a large cash injection into the Rangers.

Wasn't this the same guy who was willing to plough funds into Hibs not so long ago?

SEVCO and Kennedy sound like a perfect match.

I got speaking to a few Stockport County fans a few weeks ago and he's basically eked every last dime out of that club - and moved their ground into personal ownership.

Kennedy is no football fan, that is for sure.

[emerald green]

Sounds like turmoil continues at Greyskull. :greengrin I think I might have heard on the news at 6 o'clock that a board meeting was currently taking place.

Did I hear correctly that they could be struggling to meet the November payroll?

[bighairyfaeleith]

Yeah they need cash and quick, they will take a loan from Ashley on really bad terms. Happy days :)

[emerald green]

Yeah they need cash and quick, they will take a loan from Ashley on really bad terms. Happy days :)

So, possibly sinking deeper into the brown stuff? I wonder what the chances of administration are here?

[H18S NX]

Will they ever learn? doubt it,they deserve everything they get,arrogant *****.

[CallumLaidlaw]

According to SSN, even if they take the loan from Ashley, it will only give them enough cash to get them through til April

[bighairyfaeleith]

According to SSN, even if they take the loan from Ashley, it will only give them enough cash to get them through til April

aye its gid eh 😉

[emerald green]

According to SSN, even if they take the loan from Ashley, it will only give them enough cash to get them through til April

I'm no expert on all this stuff, but that might just see them through until the end of the season without going into administration. Time will tell.

[Sudds_1]

I'm no expert on all this stuff, but that might just see them through until the end of the season without going into administration. Time will tell.

The could always get a Wonga loan.......... eh?

[portycabbage]

The could always get a Wonga loan.......... eh?

There's this barry company called ticketus who I'm sure could advance them a few quid.

[Bostonhibby]

There's this barry company called ticketus who I'm sure could advance them a few quid.

:tee hee: The way its heading over at greyskull, if Kennedy was to throw in all the chips they can eat that would probably swing the deal - got to be better than discounts on shell suits made in Bangladesh for every The rangers fan from Mike the Geordie Ashley.

[mca]

That Schum are just like the neighbours ... Probably come out in a better position than they were.. :agree:

[heretoday]

Don't like the look of Kennedy. He's a bit of a corner boy I reckon.

I'm seldom wrong.

[Phil D. Rolls]

So, did we miss a trick when Farmer wouldn't sell to Kennedy? I'd love to hear from any of the large number of fans who thought he was our saviour in 1998.

[DarlingtonHibee]

So, did we miss a trick when Farmer wouldn't sell to Kennedy? I'd love to hear from any of the large number of fans who thought he was our saviour in 1998.

No trick was missed.

[Jim44]

Fun as it is I'm not sure it's a great thing for Hibs if they were to go into admin again. They've got a better chance of catching hearts than we do and I'd fancy our chances in a 2 leg play off more against hearts than I would the rangers.

Them going to admin would go a fair way to gifting hearts the title imo.

If they went into admin again, would they not be docked 25 points? If that happened there is every likelihood they would miss out on a play-off spot. Surely that's a scenario that suits us.

[bingo70]

If they went into admin again, would they not be docked 25 points? If that happened there is every likelihood they would miss out on a play-off spot. Surely that's a scenario that suits us.

Imo they'd still make the play offs comfortably.

[Spike Mandela]

Phil MacG has been all over this for weeks and has imo, again, , got more of an insight on it than the MSM......

http://www.philmacgiollabhain.ie/shell-shocked-in-the-sheep-pen/#more-5249

[CallumLaidlaw]

Imo they'd still make the play offs comfortably.

Depends what players they had to get rid of.

[Phil D. Rolls]

I'm not discounting the possibility that Dave King is a fantasist.

Maybe they now need to give Mike Ashley whatever he wants to stave off administration.

Where's Brian Kennedy? Is it time for Mr Quantum to put his 'consortium' back together?

Im not discounting the possibility that he's a fantasy. There seems to be only one piece of footage of him in existence.


Phil MacG has been all over this for weeks and has imo, again, , got more of an insight on it than the MSM......

http://www.philmacgiollabhain.ie/shell-shocked-in-the-sheep-pen/#more-5249

yeah, but he is a bigoted **** stirring nob.

[Ronniekirk]

I'm no expert on all this stuff, but that might just see them through until the end of the season without going into administration. Time will tell.
That's what I think ,they would rather just cobble things together in the short term to get them to the end of the season , when they are assuming they will then shift all Thier season tickets on back of playing Celtic again and Sponsers will be flocking back .
What I stuggle to get my head round is the way it's just accepted that they have been allowed to overspend in the way they have and get themselves into this mess ,as the SFA are so blatantly desperate to get them back into the top flight .The Easdales will do whatever it takes to still be in power as they know when they are back in top flight ,it's pathetic to watch .

[semaj64]

That's what I think ,they would rather just cobble things together in the short term to get them to the end of the season , when they are assuming they will then shift all Thier season tickets on back of playing Celtic again and Sponsers will be flocking back .
What I stuggle to get my head round is the way it's just accepted that they have been allowed to overspend in the way they have and get themselves into this mess ,as the SFA are so blatantly desperate to get them back into the top flight .The Easdales will do whatever it takes to still be in power as they know when they are back in top flight ,it's pathetic to watch .

Totally agree, sounds like they will just overspend to get through, bump all the debts again and start afresh, Only the Ashleys. Kennedy's etc of this world will make cash out of this. Seems to be no rules/laws against this behaviour. Authorities quite happy to allow this Fair Financial play. Fantastic if they did not get up

[Eyrie]

So, did we miss a trick when Farmer wouldn't sell to Kennedy? I'd love to hear from any of the large number of fans who thought he was our saviour in 1998.

You're not paying attention. It's essential that Farmer sells and irrelevant who he sells to.

If only he'd taken advantage of Kennedy's generosity back then we could be renting at Almondvale whilst Edinburgh Rugby play at Easter Road and that has to be a good thing because we wouldn't be owned by Farmer and have his conduit pulling the strings behind the scenes.

[greenginger]

Looks like Ashley is going to be the new Ibrox ( sorry Sports Direct Stadium ) king-pin.


http://www.bbc.co.uk/sport/0/football/29761396


I wonder if our football chiefs will have anything to say about his duel ownership issues.

[Pretty Boy]

Looks like Ashley is going to be the new Ibrox ( sorry Sports Direct Stadium ) king-pin.


http://www.bbc.co.uk/sport/0/football/29761396


I wonder if our football chiefs will have anything to say about his duel ownership issues.

'The SFA and SPFL would like to once again remind concerned parties that it is well established that the rules do not apply to Rangers in the same way they do to everyone else.'

[Phil D. Rolls]

No trick was missed.


You're not paying attention. It's essential that Farmer sells and irrelevant who he sells to.

If only he'd taken advantage of Kennedy's generosity back then we could be renting at Almondvale whilst Edinburgh Rugby play at Easter Road and that has to be a good thing because we wouldn't be owned by Farmer and have his conduit pulling the strings behind the scenes.

But, there was people talking about him taking over at ER in the summer. Hey, what if they don't know about him trying to buy us, then destroying Stockport County, maybe we should warn them.

[greenginger]

'The SFA and SPFL would like to once again remind concerned parties that it is well established that the rules do not apply to Rangers in the same way they do to everyone else.'


The Bears are already on it.

http://www.eveningtimes.co.uk/rangers/u/rangers-uof-urge-sfa-to-stick-to-rules-on-dual-ownership.1412888034

Mind you if Ashley promises millions and says FTP a couple of times , he'll be accepted with open arms. :greengrin

[weonlywon6-2]

Sounds like turmoil continues at Greyskull. :greengrin I think I might have heard on the news at 6 o'clock that a board meeting was currently taking place.

Did I hear correctly that they could be struggling to meet the November payroll?

I think the robbing Peter to pay Paul springs to mind at Ibrox just now,what a mess.

[jacomo]

The Bears are already on it.

http://www.eveningtimes.co.uk/rangers/u/rangers-uof-urge-sfa-to-stick-to-rules-on-dual-ownership.1412888034

Mind you if Ashley promises millions and says FTP a couple of times , he'll be accepted with open arms. :greengrin

Hilarious. Considering their current situation, Ashley is offering a lifeline. Of course he probably just wants to make money out of the club, but so does everyone else.

[RIP]

Yet another example should we need it of the case for clubs owned by their communities rather than the profiteers. Big business is ripping the heart out of clubs while the Scottish Government stands idly by.

Ever since the first bond launch those Rangers fans have ploughed cash into their club only to see it end up lining the pockets of directors.

[jacomo]

Phil MacG has been all over this for weeks and has imo, again, , got more of an insight on it than the MSM......

http://www.philmacgiollabhain.ie/shell-shocked-in-the-sheep-pen/#more-5249

My daughters guinea pigs have more insight into this story than the MSM...

[jdships]

SEVCO and Kennedy sound like a perfect match.

I got speaking to a few Stockport County fans a few weeks ago and he's basically eked every last dime out of that club - and moved their ground into personal ownership.

Kennedy is no football fan, that is for sure.

agree:" Not to be trusted" was what was said to me by S C fan earlier this year