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Which confirms my view that he was never going to settle for staying another season in the championship and that their are other investors willing to put in decent money from the outset .oh well let's await the full announcement on Friday and see what detail emergesQuote:
Originally Posted by Billy Whizz
Without the NOMAD, TRFC Can't trade their shares on the Stock Market.Quote:
Originally Posted by bingo70
The problem people have is that DK won't say who his NOMAD is to be, which suggests that he hasn't found anyone who will work with him.
According to Twitter tonight, he has someone who might do it, but who "needs to see the books first".
As they should.
I would reckon they need most of that immediately. For a start, they need 10m to get rid of Ashley.Quote:
Originally Posted by Billy Whizz
And that's just for the loansQuote:
Originally Posted by CropleyWasGod
Does he not still have loads of the commercial rights as well
He does, but that's not hugely important in the short term. TRFC will try to get out of those deals in time, but it will take a lot of cash.Quote:
Originally Posted by AlbertK86
And....Quote:
Originally Posted by CropleyWasGod
the second £5million drawdown is apparently required by the end of the month, at which point I will speculate the end of the financial year may mean HMRC or VAT payments :greengrin
Oh and they spend more than £8m a year than they bring in.Quote:
Originally Posted by CropleyWasGod
Loads of players out of contract.
No scouting network
No line of credit from a Bank
Repairs needed to Ibrox
No money to be made in Europa League either.
Brilliant!!
The Twittering classes are saying that HMRC are due cash at the end of March, presumably for VAT.Quote:
Originally Posted by Golden Fleece
Quote:
Originally Posted by Golden Fleece
Very few income streams available to DK & lots of cash - hard cash - required to get rid of Ashley. Money they don't have IMHO.Quote:
Originally Posted by CropleyWasGod
Yep agree re the short term but the merchandise can be a huge money earner if they get all the bigots around the world back on board !!!Quote:
Originally Posted by CropleyWasGod
The liquidated club was called Rangers (ie Huns RIP), and the new club is officially called The Rangers (aka Sevco Huns). It operates the same business of football, using many of the employees of the old company and the same premises.Quote:
Originally Posted by Brunswickbill
Looks like a phoenix company to me :dunno:
As the MSM faun over TRFC with increased vigour and DK arrives at Glasgow Airport, the feeding frenzy begins to establish them 'where they belong.' DK's Messianic tone suggests he is very confident of coming out of the meeting smelling of roses - which is exactly the impression he wants to give to the baying Bluenose hordes and the reporters waiting to provide their editors with succulent headlines.
If he is talking about "north of £20m" he must indeed have other individuals who have confirmed they want to contribute substantial funds. After all that has gone before, you wonder how there can still be anyone out there daft enough to put large sums of money into this financial whirlpool.
However, Ashley has been sitting pretty patient and silent during all this and having heard Llambas's own comments this evening I think he will come up with a surprise. He's not out of it yet as he still holds several important cards.
I've been following this thread for donkeys, frequently several times a day as it is such a laugh. My wish is for them just to fall off the edge of the planet never to reappear, but unfortunately that is unlikely to be the outcome. I'm not sure how DK proposes to be involved as he is quite obviously not a FaPP, but ultimately I think he and Ashley will agree some form of co-existence, as the latter is not going to let go of his sweetie bag any time soon. He knows the aforementioned scabrous hordes will spend, spend, spend when New Newco achieve some form of stability and splash out on a new manager.
An the rest - apparently there are early repayment penalties - excuse the football punQuote:
Originally Posted by CropleyWasGod
Well it certainly will not be Corporation Tax.Quote:
Originally Posted by CropleyWasGod
It certainly does.Quote:
Originally Posted by Eyrie
It looks like the now defunct Glasgow rangers, it definitely smells like the now defunct Glasgow rangers and there's no doubt it sounds like the now defunct Glasgow rangers even if there are thousands missing every week.Quote:
Originally Posted by Eyrie
I see that in amongst his waffle and spin at glasgow airport he states his ambition is to make TheRangers a "solid number two"...
Talking ***** :agree:Quote:
Originally Posted by Iain G
That's the thing, they've gone to great lengths to make sure everyone knows they're the same club, and been allowed to get away with that. It would be ludicrous if they used the argument now they were differentQuote:
Originally Posted by Bostonhibby
Let's see how quicklyQuote:
Originally Posted by Bostonhibby
the missing thousands flock back starting with first home game after King is coronated today That will be barometer if the bigoted Hoardes will just automatically return to sing thier Triumphal songs in anticipation of thier expected return to the big time .you can hear it now No one likes us we don't care , the cry was no surrender etc Or will it also take Managerial change to persuade the more discerning blue nose to return to the fold .
But we all know they will stoop to any lengths now ,and still try and claim the Moral High Ground that despite everyone else being against them they have prevailed in Thete quest to come right back through the divisions at first time of adking to restore the Natural Order as they see it All the Financial carnage and deals and side deals and the fact they have dragged the reputation of scottish football through the sewer will get quickly forgot and be sanitised and rewritten No doubt there are a few best sellers waiting in the wings to be published that the Hoardes will lap upQuote:
Originally Posted by ian cruise
But neither King or Murray were responsible for setting up the Phoenix company. I don't know if that's relevant or not.Quote:
Originally Posted by Eyrie
If it only takes £40M for them to get to strength, considering the mess they are in, how much would it cost for us?
Obviously I am winning the £75M tonight so I am thinking I could possibly part with £20M to see the club prosper on the field.
Sent from my iPhone using Tapatalk
Quote:
Originally Posted by lord bunberry
I would'nt have thought that would make any difference. It would be easy to get a couple of stooges to set up a Phoenix company , then the real operators to move in unhindered.
King indicating he will appoint more directors quickly so we may know soon who else is putting money in
Have i missed something, who or what is the NOMAD or is this just a term we have called the imaginary investor. Maybe it's a whoosh moment.Quote:
Originally Posted by CropleyWasGod
NOMinated ADviser. I think. And you need one to trade on the stock exchange. I think. That's the extent of my knowledge.:greengrinQuote:
Originally Posted by offshorehibby
After today's vote, King gets two of his people on the board ( not himself yet ) and Ashley gets to appoint 2 directors because of the loan conditions ( presume the same pair that were voted off ) .
That leaves the Holding company ,Rangers International split 2 aside. Is there a casting vote ? Can King force through any changes ?
Also the Football club board , is not immediately affected by today's vote and the other Easedale , Alexander is still a director there so Ashley may have 3 men in place there and without a majority on the Holding Company can't place anyone on the football club board,
I think. :confused:
I hope the Hibs players have taken note of King's comments that Rangers being the number 2 club in Scotland will happen 'very quickly'.
We can make that process a bit slower.
He looks like an even more glaikit looking Kenny Dalglish to me...but Kenny makes more sense!Quote:
Originally Posted by Andy74
Is this not what the Rangers' fans were expecting/wanting?Quote:
Originally Posted by greenginger
Sent from my iPhone using Tapatalk
So a tax dodger is going to save the club that died for not paying its tax. The weedgie knuckleheads are actually buying it. They are going to crash again. They made a 7 million pound loss last year and have added around another 5-10 million pound loans since then. They have 80% of their merchandising rights owned by MA, yet they will be in Europe in two years.
Even Celtic who have sold Hooper for 7 million, Foster for 10 million, Wanyama for 12 million and qualified for 2 champions leagues in the last 4 years are signing players at 7 to 8 grand a week.
The Huns are really in cuckoo land.
From the BBC updates page
In the away end again. Ally must not have time to get the gazebo up todayQuote:
11:04: Ally McCoist arrives Richard Wilson BBC Scotland
Ally McCoist has just arrived #rangersegm to widespread applause.
IF Dave king repays Ashley's loan of 10mill does MA still hold 80% of merchandising or is that just terms on the duration of that loan deal?
Bonkers when you consider how he deliberately left his resignation to the moment he did so he could squeeze maximum cash out of them for doing nothing before doing walking away.Quote:
Originally Posted by DarrenSQH
Oh, and he is largely responsible for the team they currently have. We should be thankful for that
The merchandising deal is separate to the loan deal.Quote:
Originally Posted by Matty_Jack04
Thats the meeting over in 10 mins. They will publish the rsults later. I would be shocked if its anything other than going along with King.
Thanks CWGQuote:
Originally Posted by CropleyWasGod
Fingers crossed! Fireworks about to begin as Ashley starts flexing his muscles?Quote:
Originally Posted by DarrenSQH
Nice too see Sally taking his gardening duties seriously....I'd of thought however there may of been a better time to cut the grass.
Are the rules that black and white?the scenario you suggest clearly isn't what happened in this instance.Quote:
Originally Posted by greenginger
In my understanding of the phrase, what happened in Rangers' case is not a Phoenix situation. That would have been the case had Craig Whyte set up a new company to buy the assets of the old company.Quote:
Originally Posted by lord bunberry
The Record reporting 85% in favour of the resolutions.
Apparently the Easdales abstained - their 20% was expected to go against DK.Quote:
Originally Posted by CropleyWasGod
If this number is correct, then DK was right in saying that it was a landslide victory.
That was my take on it as well. I presume these laws were brought in to prevent companies fraudulently shedding debt and continuing on their merry way under the same owners. Both Murray and King wouldn't fall into this categoryQuote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by lord bunberry
Yeah, but how do you prove a stooge is not a stooge, or is a stooge as the case may be.
I think the laws were drafted to suit normal business environments not the world of football
Dont see how the numbers work then.Quote:
Originally Posted by grunt
If 85% are in favour. ...and 20% abstained. ...
Hunonomics.
http://www.londonstockexchange.com/e.../12273128.html
Official Sevco voting results.
Big Mike tanked.
Could have been 85% of those who voted.Quote:
Originally Posted by CropleyWasGod
That's fairly emphatic!Quote:
Originally Posted by greenginger
Are they in administration yet?
Yeah, that's what it was.Quote:
Originally Posted by Andy74
Bad move! I don't think the know what they have done. I guess there is still time if DK fails the fit and proper test?? But right now, NewCo fans have opened the hell gates ...
Quote:
Originally Posted by greenginger
Does that mean big Mike can/will recall the loan players and ask for his loans back immediately??
That's the big question as no-one knows what he will do next as he seems one to keep very quiet and then just make a move.Quote:
Originally Posted by Hermit Crab
If his 2 men on the board get booted when the conditions of the loans he gave the club were that he has to have 2 of his men on the board for the duration of the loans then that's where it could get nasty....or good and entertaining for the likes of us......so best just to sit back and enjoy the show and see what happens next! :greengrin
I think MA knew fine the vote was lost anyway so it won't have come as any surprise so he's probably well prepared for all scenarios taking place in the very near future.
http://www.londonstockexchange.com/e.../12273215.html
Its a three man board now. Murray and Gilligan have added Park to the party.
With the King on speaker phone, no doubt.Quote:
Originally Posted by greenginger
Well done Der Hun, you've launched the two guys trusted by your billionaire investor, large creditor and controller of the merchandising operation. What could possibly go wrong?
They will come out smelling of roses like hearts did. You watch. Just a hunch. Corruption, sfa ***** bags etcQuote:
Originally Posted by jacomoseven
Not so sure. Hearts were playing with a new small naive country who panicked when the British MPs got involved. Ashley is no mug and has an ego on him the size of his gut.Quote:
Originally Posted by Hermit Crab
Popcorns in the micro getting ready for this.Quote:
Originally Posted by CB_NO3
Hearts have done well this season. They will, though, struggle next year - on the pitch at least.Quote:
Originally Posted by Hermit Crab
Off the pitch I don't buy into the idea that everything is 'rosy' and I certainly don't believe they will be fan owned in five years time.
Once a club suffers administration/liquidation it is very hard to move on properly from that. It will catch up with Hearts like it has done with Rangers, Dunfermline, Airdrie, Leeds, Portsmouth etc.
How long did it take to get Park in the door ?Quote:
Originally Posted by jacomoseven
Could that be evidence for King and Park being part of a " concert party " resulting in them having to make an offer for all Rangers shares at the highest closing price in the last 12 months.
I dare say Ashley would love to get his share money back with interest and all the juicy deals in tact.
Am I reading the result of the votes correctly? Were only 66% of eligible votes actually cast (column headed "% of ISC voted")?
How will King get past the 'fit and proper' test when the SFA rule (10.2) States that any individual May not be fit if:
Convicted in the last 10 years.
An offence liable to imprisonment (2yrs) or more.
Corruption of fraud.
King's SA fines in 2013 were over £700,000 or to accept a 4 year jail sentence. He is also to pay back £44m in back taxes.
I take it Paul Murray has been allowed to become a director and is not barred as had been previously suggested for his part in the demise of original Hun fc
He wasn't "barred".Quote:
Originally Posted by BH Hibs
However, now that he has been elected to the Board, he may have committed an offence.
The important word.Quote:
Originally Posted by Glorious St Pat
For £500,00 I'll do his 4 year stretch for him.Quote:
Originally Posted by Glorious St Pat
Quote:
Originally Posted by Glorious St Pat
He was also involved with Rangers when they folded and cannot rejoin the same or similar company. He will know this so he must have got a dodgy handshake already as I don't think he's an idiot.
Quote:
Originally Posted by Glorious St Pat
I think I read that he unbelievably told the SA court at some point that his annual earnings were only £34k a year.
Jim White is certainly enjoying reporting on it :rolleyes:
Cheers for thatQuote:
Originally Posted by CropleyWasGod
Quote from King on Reporting Scotand:
"we want (the) Rangers to go back to the value system and the ethos that we grew up with"
so expect the ban on signing Catholics to be reinstated any day now........:rolleyes:
Something stinks...........http://www.threadbombing.com/data/media/2/MALARKEY.gif
:top marksWhat is he slavering about? "Value system and the ethos that we grew up with." What would that be exactly?Quote:
Originally Posted by MysteryBill
The Lying King should be nowhere near Scottish football. Will the SFA have the bottle to stop him. I doubt it. Petrie!!!Quote:
Originally Posted by Glorious St Pat
It's the typical deluded hun nonsense - tell a lie loudly enough and often enough and they will end up actually believing it, & looking surprised when others don't.Quote:
Originally Posted by emerald green
No more caffliks at ibrox then.Quote:
Originally Posted by emerald green
Exactly, the obvious follow-up question for the journos, but they were too embarrassed to ask :greengrinQuote:
Originally Posted by emerald green
that could beQuote:
Originally Posted by emerald green
bribing referees
using dodgy tax schemes
sending bullets through the post to opposing teams managers
beating up your wife when you get beat
chucking pies at fans in the stand below
singing songs about famine / fenian blood etc
using masonic links to exert pressure on governing body
lovely wee club they used to be!
Quote:
Originally Posted by MysteryBill
That was the old Rangers, this lots history is only 3 years old.
"Roll up roll up, who's next......ah nice to see you again Mr King and Mr Murray."
Just sit back and watch the comedy unfold at Fawlty Towers inc.
So how do The Rangers go forward with a criminal in charge?
Thread on their 'mong-media' - 'Any regrets about Ashley'. All posts (so far) talk of MA in the past-tense as if King winning today means Ashley loses !!??
http://forum.rangersmedia.co.uk/index.php?showtopic=280712
'I'm glad King won but part of me does wonder what Ashley's plans were but unfortunately he was just too stupid to learn the lesson of Newcastle that you need to engage with supporters if you want to be accepted at a football club'
What his plans 'WERE' ??. And (unbelievably) 'too stupid to learn'??.
Definitely some medical-laboratories with empty-jars today as the specimens have slipped out to celebrate the 'return of the King' I think !;
To be fair, if the personal cash he has put into the rangers to help them out with their problems, and to avoid taking substantial loans from Ashley is anything to go by maybe he really doesn't earn any more than £34k a year.Quote:
Originally Posted by Jim44
Even now he is making it pretty clear there are "investors" - doesn't sound like his cash is up front and at risk. More of the same from the club that keep on giving :greengrin
Swap King for Green and Whyte on the submission to the SFA?Quote:
Originally Posted by Cilla Black
:greengrin - If the fat and protestant person test fails, could Barry be a double?Quote:
Originally Posted by MysteryBill
At least until Daves millions flow through, the Nomad is appointed, they are listed on the stockmarket again, Dave meets the UK company law standard, Ashley releases his charge etc............
I think I've solved the mystery
Dave King's wealth exists, it's only "off the radar wealth"
A bit like Motherwell-born billionaire Craig Whyte's wealth was off the radar...
more like camel jockey:greengrinQuote:
Originally Posted by Golden Fleece
And the media assault begins. Felt dirty after reading this tripe, the good for Scottish football spin...
http://m.bbc.co.uk/sport/football/31775467
That is some disgusting ****Quote:
Originally Posted by Iain G
I'd be laughing apples all week if Cowdenbeath pulled off the shock of all shocks and beat them today - I liked the national Beeb news though, they were almost mocking when they concentrated more on his tax offences rather than the taking over !
They'll always be a disgusting club no matter who is at the helm.
That bawbag has brown nosed every owner in the last 3 or 4 years. He was fawning over Green and Whyte, so it's no surprise he's moved onto King.Quote:
Originally Posted by Mikey
Is this latest move meant to rejuvenate their season? not with that pile of crap they have as players, typical spin to push them up to the SPL and the media will be sucking it up just like they did with the cheating yams, here we go.
It's immeasurable, it's so immeasurable that no one has ever bothered to measure it. Except the south African tax man obviously.Quote:
Originally Posted by Springbank
They do like their off the radar wealth guys who have serious convictions down ibrox way.
The Sons of the Desert know their onions:Quote:
Originally Posted by Iain G
Yes, but how good is he at driving a submarine?Quote:
"I've had the fortunate experience of meeting him and talking to him personally and I've looked him straight in the face and I'm happy with what he's saying.
Is it true that Keith Jackson from the DR (the "wealth off the radar" guy) had to be taken to A&E after hearing King won the (E)GM, as he did serious injury to his own nether regions?
Not that he's a King Fanboy or anything...........
Shouldn't be overly taxing.Quote:
Originally Posted by Phil D. Rolls
Kings just setting up thier off shore tax free accounts ,that will put a spring in thier step Boyd will suddenly shoot to the top of the scoring charts :wink: But they haven't factored in we are a team on a roll , who have shown in the past few weeks we can now grind out results when not at the top of our game. Let's wait and see who the new manager is ,Stubbs will relish the challenge , as up to now it's been to easy to beat them :agree:Quote:
Originally Posted by HIBERNIAN-0762
All this talk of Mega-Bucks investment will have Super Swally banging at the front door of Ibrox, demanding his job back
I'd imagine he will at least be after some extra packets of grass seed and his own fork, I can see King running to that after he has got the other investors to put up their money. I don't think they have to be legally listed on the stock exchange or have a nomad to do that -watch for exciting developments on the turf front down Ibrox way.Quote:
Originally Posted by keekaboo
The Daily ****** are down their photographing the grass now for a before and after King special, Keith Jackson is exclusively interviewing a divot but it is managing to evade his insightful questioning line.