Generic Sevco / Rangers meltdown thread

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22-02-2018, 10:13 AM
Geo_1875

Quote:

Originally Posted by greenginger

I love that the documents were signed for by Close Brothers by a Mr Benedict O'Mahony. :greengrin

Would have been funnier if it was Fr Benedict O'Mahony
22-02-2018, 10:33 AM
Ronniekirk

They will muddle through somehow now i think Unless they have a collapse in form that sees them finish outside the top four and no European spot
The Scottish Cup draws have ensured more income and if they somehow managed to get to the final that income will probably help keep the wolf from the door

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22-02-2018, 11:20 AM
Geo_1875

Quote:

Originally Posted by Ronniekirk

They will muddle through somehow now i think Unless they have a collapse in form that sees them finish outside the top four and no European spot
The Scottish Cup draws have ensured more income and if they somehow managed to get to the final that income will probably help keep the wolf from the door

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It's not the wolf at the door that will bring them down it's the bears in the boadroom.
22-02-2018, 11:25 AM
Ozyhibby

Quote:

Originally Posted by Ronniekirk

They will muddle through somehow now i think Unless they have a collapse in form that sees them finish outside the top four and no European spot
The Scottish Cup draws have ensured more income and if they somehow managed to get to the final that income will probably help keep the wolf from the door

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There are a few variable still to be thrown in the mix. They badly need a share issue and they can’t do that while Dave King is being chased by the TPA.

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22-02-2018, 11:33 AM
Ronniekirk

Quote:

Originally Posted by Ozyhibby

There are a few variable still to be thrown in the mix. They badly need a share issue and they can’t do that while Dave King is being chased by the TPA.

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I thought they would of been desperate to get the Share issue done and dusted before the New Season Started to help rebuild the Team among other things
Makes you wonder if King is up to something else in the background

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22-02-2018, 11:37 AM
Ozyhibby

Quote:

Originally Posted by Ronniekirk

I thought they would of been desperate to get the Share issue done and dusted before the New Season Started to help rebuild the Team among other things
Makes you wonder if King is up to something else in the background

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They are not allowed to have one while the tpa ruling stands.

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22-02-2018, 11:39 AM
Ronniekirk

Quote:

Originally Posted by Ozyhibby

They are not allowed to have one while the tpa ruling stands.

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When does that get resolved ie before start of next season

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22-02-2018, 11:55 AM
CropleyWasGod

Does anyone know anything about Edmiston House?

IIRC, it's unoccupied, perhaps derelict.

According to the charge document, it was bought for £800k. The land is surely worth a good deal more than that, so maybe Close Brothers have their eye on it.

Indeed, why wouldn't (or can't) RFC just sell it?
22-02-2018, 12:10 PM
Is It On....

Quote:

Originally Posted by Ozyhibby

There are a few variable still to be thrown in the mix. They badly need a share issue and they can’t do that while Dave King is being chased by the TPA.

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I would have thought that the share issue, whenever / if it comes, would be to pay off director loans which means that it has effectively already been spent and won't provide the war chest that the "fans" are hoping for 😎
22-02-2018, 12:30 PM
JimBHibees

Quote:

Originally Posted by CropleyWasGod

Does anyone know anything about Edmiston House?

IIRC, it's unoccupied, perhaps derelict.

According to the charge document, it was bought for £800k. The land is surely worth a good deal more than that, so maybe Close Brothers have their eye on it.

Indeed, why wouldn't (or can't) RFC just sell it?

Is that not the supporters club?
22-02-2018, 12:31 PM
CropleyWasGod

Quote:

Originally Posted by Is It On....

I would have thought that the share issue, whenever / if it comes, would be to pay off director loans which means that it has effectively already been spent and won't provide the war chest that the "fans" are hoping for 😎

:agree: As things stand, they are the only people who would be interested in taking up shares. RFC are not the business they were, so there would be little desire from external funds etc to get involved.
22-02-2018, 12:39 PM
ballengeich

Quote:

Originally Posted by CropleyWasGod

:agree: As things stand, they are the only people who would be interested in taking up shares. RFC are not the business they were, so there would be little desire from external funds etc to get involved.

They'll get a limited cash injection of whatever amount Club 1872 is holding at the time of the issue. Other than that they can only hope that there are further wealthy bears with money to donate.
22-02-2018, 12:46 PM
Hibs4185

Close brothers provide finance for a lot of car dealerships and aren’t the worst lenders. They offer short term finance for property developers and other commercial businesses.

Rates would be roughly 0.7% to 1.5% per month depending on the business.

Loans usually are about 60% loan to value max.

its absolute desperation by Rangers that they have had to give security over their PA system, catering equipment, screens in Ibrox and the stadium WiFi equipment.

For a loan of £3million, they would have needed assets of £5 million.

if you gave them a good asset, ie a house in morningside worth £5 million that close brothers could sell easily then the loan would be less onerous. Given its second hand equipment, a derelict building and other bits I’d imagine the loan is quite costly.

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!
22-02-2018, 12:49 PM
CropleyWasGod

Quote:

Originally Posted by Hibs4185

Close brothers provide finance for a lot of car dealerships and aren’t the worst lenders. They offer short term finance for property developers and other commercial businesses.

Rates would be roughly 0.7% to 1.5% per month depending on the business.

Loans usually are about 60% loan to value max.

its absolute desperation by Rangers that they have had to give security over their PA system, catering equipment, screens in Ibrox and the stadium WiFi equipment.

For a loan of £3million, they would have needed assets of £5 million.

if you gave them a good asset, ie a house in morningside worth £5 million that close brothers could sell easily then the loan would be less onerous. Given its second hand equipment, a derelict building and other bits I’d imagine the loan is quite costly.

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

The charge document shows almost exactly that. The assets being used had an initial cost of £5.5m.
22-02-2018, 12:50 PM
Moulin Yarns

Quote:

Originally Posted by CropleyWasGod

Does anyone know anything about Edmiston House?

IIRC, it's unoccupied, perhaps derelict.

According to the charge document, it was bought for £800k. The land is surely worth a good deal more than that, so maybe Close Brothers have their eye on it.

Indeed, why wouldn't (or can't) RFC just sell it?

probably not relevant, but it was security for loans in 2014

http://www.cityam.com/blog/139325621...son-house-line
22-02-2018, 01:03 PM
JimBHibees

Quote:

Originally Posted by Hibs4185

Close brothers provide finance for a lot of car dealerships and aren’t the worst lenders. They offer short term finance for property developers and other commercial businesses.

Rates would be roughly 0.7% to 1.5% per month depending on the business.

Loans usually are about 60% loan to value max.

its absolute desperation by Rangers that they have had to give security over their PA system, catering equipment, screens in Ibrox and the stadium WiFi equipment.

For a loan of £3million, they would have needed assets of £5 million.

if you gave them a good asset, ie a house in morningside worth £5 million that close brothers could sell easily then the loan would be less onerous. Given its second hand equipment, a derelict building and other bits I’d imagine the loan is quite costly.

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

Surely only if they qualify for the group stage which given the quality of team they are likely to have to get past is probably unlikely anyway..
22-02-2018, 01:09 PM
Ozyhibby

Quote:

Originally Posted by CropleyWasGod

Does anyone know anything about Edmiston House?

IIRC, it's unoccupied, perhaps derelict.

According to the charge document, it was bought for £800k. The land is surely worth a good deal more than that, so maybe Close Brothers have their eye on it.

Indeed, why wouldn't (or can't) RFC just sell it?

Edmiston house is unoccupied, derelict and riddled with asbestos.

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22-02-2018, 01:11 PM
ballengeich

Quote:

Originally Posted by Hibs4185

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

The other important source of money in the summer will be transfer fees. A profit of even £3 million in the next window would make the season's financial prospect a lot less bleak.
22-02-2018, 01:15 PM
Ozyhibby

Quote:

Originally Posted by Hibs4185

Close brothers provide finance for a lot of car dealerships and aren’t the worst lenders. They offer short term finance for property developers and other commercial businesses.

Rates would be roughly 0.7% to 1.5% per month depending on the business.

Loans usually are about 60% loan to value max.

its absolute desperation by Rangers that they have had to give security over their PA system, catering equipment, screens in Ibrox and the stadium WiFi equipment.

For a loan of £3million, they would have needed assets of £5 million.

if you gave them a good asset, ie a house in morningside worth £5 million that close brothers could sell easily then the loan would be less onerous. Given its second hand equipment, a derelict building and other bits I’d imagine the loan is quite costly.

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

You have to get to the group stages to get that kind of money.

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22-02-2018, 01:33 PM
Hibs4185

Quote:

Originally Posted by Ozyhibby

You have to get to the group stages to get that kind of money.

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I think they’ll make the same sort of Progres as last year!

Its pretty clear that the directors soft loans have dried up and I’ve never believed King had the cash needed. If they are taking costly loans already then I can’t possibly see any other way back for them.

Needing £7 million to stay afloat. High earners unlikely to leave. Morelos story is a lot of nonsense and a lot of loan players needing bought or replaced.

It it looks like they’ve bet everything on Europe. An admin event when they don’t qualify for the European group stages would allow them to get rid of some players and clear the decks.

Group stages or admin is my bet. Be nice if we finished third and helped them down the admin road!
22-02-2018, 01:46 PM
CropleyWasGod

Quote:

Originally Posted by Ozyhibby

Edmiston house is unoccupied, derelict and riddled with asbestos.

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Cheers. So the clearance costs would put off a developer.
22-02-2018, 02:17 PM
Ozyhibby

Quote:

Originally Posted by CropleyWasGod

Cheers. So the clearance costs would put off a developer.

That and it’s next to Ibrox and the sevconians would be pretty resentful.

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22-02-2018, 02:21 PM
CropleyWasGod

Quote:

Originally Posted by Ozyhibby

That and it’s next to Ibrox and the sevconians would be pretty resentful.

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I meant the costs of clearing the area of Sevconians. :greengrin
22-02-2018, 02:25 PM
Ozyhibby

Quote:

Originally Posted by CropleyWasGod

I meant the costs of clearing the area of Sevconians. :greengrin

https://uploads.tapatalk-cdn.com/201...6c2154f066.jpg
Big job[emoji23]

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22-02-2018, 02:35 PM
Topographic Hibby

Quote:

Originally Posted by Geo_1875

Would have been funnier if it was Fr Benedict O'Mahony

....and was an ecumenical matter.
22-02-2018, 05:50 PM
Hibs4185

Quote:

Originally Posted by CropleyWasGod

I meant the costs of clearing the area of Sevconians. :greengrin

you’d need rick from the walking dead to deal with all the zombies
27-02-2018, 02:47 PM
CropleyWasGod

King's appeal is tomorrow. Doleman has been given permission to live Tweet.

Somebody will get a beasting in the East.

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27-02-2018, 02:48 PM
Spike Mandela

Quote:

Originally Posted by CropleyWasGod

King's appeal is tomorrow. Doleman has been given permission to live Tweet.

Somebody will get a beasting in the East.

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How long can King string it out?
27-02-2018, 02:55 PM
CropleyWasGod

Quote:

Originally Posted by Spike Mandela

How long can King string it out?

Pretty sure he could go to the UK Supreme Court after this. In some ways, that may be a more appropriate place to decide his case, as the TP is a UK institution.

My money's on a postponement due to the fact that he/the TP/Doleman are snowbound.
27-02-2018, 03:35 PM
HoboHarry

Quote:

Originally Posted by CropleyWasGod

Pretty sure he could go to the UK Supreme Court after this. In some ways, that may be a more appropriate place to decide his case, as the TP is a UK institution.

My money's on a postponement due to the fact that he/the TP/Doleman are snowbound.

Damn well hope not. I want to see if getting rodgered by the TP makes King even more squinty eyed than he already is.......

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