Yep, he seems to know his stuff but I suspect he's farting in the wind with regard to the majority of Sevco fans.
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"For every fiver Rotherham United spend we'll spend only slightly less". Dave King
Another PhilMac. piece on the Sevco train crash.
http://www.philmacgiollabhain.ie/front-loaded-kool-aid/
I know its Phil with all his baggage etc. but the sums are simple.
Rangers will be out of cash by November unless they get a very successful share issue or King ponies up big time.
Just don't expect to read it in any newspaper or hear it on TV or radio. Its the Motherwell born billionaire story all over again.
I think the plan has always been another share issue. Diminishing returns would reckon they're up against it there and even if they do pull in a hefty wedge, how much of it will have to go to pay off Ashley? If they are skooshing the league in front of big crowds and Ashley goes easy on them they might just raise enough to survive without another insolvency.
Sadly, as usual, we have given them a helping hand by lying down to a hiding. Bet that shifted several thousand New Hun STs. :rolleyes:
I'm sure that if they launch another share issue the debarred shareholders will go to court over it.In any case who would be brave enough to underwrite it.
The DR today has a front page pic & 2 page spread of a key witness to Chuckie Green fraud investigation being in Glasgow. Looks like the case is still proceeding apace. It started me musing as to just how the powers that be behind the scenes at greyskull actually went about supporting & choosing their last 3 owners/COE's.
Craig Whyte - sounds good, ok he's been barred from being a company director for 7 years but that's just a technical matter. he's got off the radar wealth, he lives in a castle & he looks like another cheekie chappie, him & Coisty, the dream team, that'll do for me.
Chuckie Green - really disappointed that he's never been barred from being a company director but the positive news is he was strongly suspected of asset stripping at Sheffield Utd & turned a small loss into a massive one! he's owned about 40 companies & about 80% of those have been dissolved, let's take a chance on him! And, we can call him big man!
Dave King Ah, now we're talking!! A convicted criminal, and on 41 counts! at last we're hitting the big time! Not only that but he was originally indicted on 322 counts of criminal activity for everything from racketeering & money-laundering to dandruff! Brilliant, he'll have no problem passing the fit & proper test, he's the man to take Sevco forward!
Kim Jong-Un, :greengrin
Very good analysis but cannae see wee Kim passing the fat and protestant person test. the latter part anyway as he is apparently a deity in his own right. The only option might be for all the huns to apply for North Korean Citizenship and then undertake a religious conversion, We can but hope.
You forgot about The Krays
Attachment 15243
Goes without saying that Phil is a twat but Rangers certainly should have been counting the bawbees.
Their squad this year is better than last seasons but it's also cheaper. So if they are running out of cash again then they'll require either of the things you suggest or
further loans from directors who we would assume are not taking money out the club unlike in the Charlie Green days.
Perhaps the cutbacks that were rumoured after June have not actually happened but that doesn't surprise me.
There's a mentality at Rangers both at Director and at Fan level and that just does not "get it" that when you have limited funds you cut your cloth accordingly.
When other clubs are relegated or they see money tighten, players are moved on or released and squads are cut in size. At lower levels clubs even go Part Time or have a greater mix of Part Time players. Any new contracts to players should be more modest and we all remember the East mains bloodbath that was Butcher's last act after relegation.
But at Rangers, none of those things happen. They still fritter money away so for that reason to my mind they are without doubt the world's stupidest football club
But Dave King has promised to invest £50 million, I mean £40 million, ehm, or was it £10 million.
In all seriousness, can you imagine the team that we could afford if we had just banked the money from circa 25k Season Tickets?
Hoisted by their own hubris and they genuinely believe their own hype. Any time you read of them talking about the "history" of their club, or getting back to "where they belong", it seems like they've not learned a single thing.
If they go bust, it will be nothing short of what they deserve.
The ones I know certainly are, they haven't learned a thing. As far as they are concerned it is the SPL/SFA and HMRCs fault they are bust and apparently they are victims of a witch hunt.
Plus they think everyone that voted for Sevco to start in Div 3 did it out of spite/fear, not for fair competition. When I point out that it wouldn't have even gone to a vote of it was anyone else because it was the only right outcome but a lack of balls prevented the decision from being made automatically, they get very angry. Seems the truth hurts especially when you're in denial.
My favourite moment was when they thought they were world beaters after beating us in the playoff and saying how ironic it was that they would be sending Motherwell down when they voted to send Sevco down a few years previous, that went well!
On a serious note is there a link available to an article where DK promised to invest £xm..? Or has it all been supposition?
May well be miles earlier in thread but one does forget!
Was listening to John Beattie show on Radio Scotland yesterday lunchtime. They were discussing the bans on certain press from Ibrox.
Graham Spiers was seemingly banned for criticising the new board - in particular The Glib and Shameless liar over the past few years.
The more worrying one was Chris McLaughlan though. He was banned for reporting on the Referees report including the sectarian singing. Obviously they don't like the truth being out there as it is bad publicity.
BBC are therefore refusing to send reporters according to the reporters on the show yesterday. Have to ask why they are commentating on the game tonight then?
March 2014: At least £30 million
May 2015: £10 Million
I think Mr King will be wary of under-writing a share issue if David Murray's efforts to grab the orange pound are anything to go by.
http://www.telegraph.co.uk/sport/foo...re-scheme.html
£ 51,430,995.00 raised , £ 50,275,000.00 from his own company Murray International, which led to B.of S. taking a stake in the company before the Bank needed bailing out by us, the taxpayer.
Who in their right mind would buy in anyway.
Green's issue was taken up by people who wanted to grab power, some blue-nose fund managers who thought they'd have a punt on the new clumpany with other people's money and have all but lost it, and the small share holder supporters .
The small share holders may buy a few more but it will be peanuts , the fund managers won't dare touch them, and will anyone put in millions to win control of the mess assembled by spivs & Co ?
https://rangerssupportersloyal.wordp.../#comment-2285
The John James@sitonfence character is banging on about evidence that Chuckie Green had actually sold the Big Hoose before taking leave of Sevco.
Seems in the 6 month accounts produced to December 2014 there is a £ 0.7 million charge (£1.4 million for the year ) for a sale and lease back of a Sevco asset ,and in his opinion can only be Ibrox .
The interim accounts are not published on Companies House website, the AIM website is gone with their de-listing, not sure if they are still on Rangers Official site ( don't really want to dirty myself by going on there :greengrin )
I don't think there is any obligation for a purchaser to register a title to a property at Registers of Scotland.
I think it will/should be disclosed when their year accounts eventually appear, if not , will anybody ask what the the leasing sum is for ?
I've had a look at the Scottish Assessors Association web site. They list details of all properties and business rates and Council Tax bands.
Interestingly, the proprietor of Murray Park is noted as, The Rangers Football Club Ltd, 150 Edmiston drive, whereas the proprietor of Ibrox Stadium is noted as, Rangers Football Club Ltd, per Les Ewan Associates, 21 Oronsay Crescent, Glasgow.
http://www.saa.gov.uk/search.php?SEA...10&y=9#results
Might mean nothing, maybe different ownerships !
Anyone heard of Les Ewan before in the Sevco saga ?
He's a property consultant, wtf that might mean :greengrin
https://www.linkedin.com/pub/leslie-ewan/b5/886/280
I've yet to see any convincing evidence that ibrox is not owned by the new club.
I can believe that there are lots of contracts that the club have to honour that send a lot of money out the club but I've never seen any evidence that ibrox is not still the property of the club.
The original Rangers changed its name to RFC 2012 PLC to save the ignominy of the Rangers Football Club being liquidated.
http://wck2.companieshouse.gov.uk//compdetails
A bit like Peter Sutcliffe changing his name to Jimmy Smith and then claiming he's not a murderer.
It seems that this JJ is not a finance expert like what we have here (sit down CWG). The RIFC accounts show finance leases and clearly state they are for refurbishment of the stadium fast food outlets (note 18). JJ has just significantly dented his credibility, I fear.
http://www.rangers.co.uk/images/stat...nualReport.pdf
Phil now saying Sevco going back to the stock exchange well for another £ 20 million.
http://www.philmacgiollabhain.ie/rif...0m-the-target/
I don't think Phil wrote that. For one thing there are paragraphs containing more than one sentence.
Edit - he didn't. There's a credit to Tom Winnifrith who seems to be a financial blogger.
Regardless of where it's been lifted from I can't see institutions being interested. I could understand, just, why a few fund managers working in high risk areas thought Green's IPO was worth a punt, but the prospect of any return through dividends now looks remote.
I didn't want to perpetuate another Scott A thread so thought I would post this here. There's a snippet buried away in today's DR which says SA is close friends with Graeme Park, the newly appointed hereditary peer, I mean director, at Sevco. It also says SA was GP's guest at champions League final & Sevco are gobsmacked at his betrayal!. Looks like the tapping up may have started a while back!
Chris McLaughlin (@BBCchrismclaug)
31/08/2015 20:02
Former #Rangers CEO Charles Green to be interviewed by Police Scotland tomorrow. Likely he'll face charges relating to his time at club
The tramps have had a 150k bid for Ali Crawford rejected
Hamilton are obviously bigots not letting this lad join his heroes.
Not a lot of detail so far.
I'm not sure it does though Andy. There are a bunch of reasons why the print media in Scotland have zero interest in actually pursuing the Sevco stories.
Take Big Chuck, a born liar, huge hands - the idea he wasn't in chaoots with Whyte & D&P seemed ludicrous at the time and does now; he bought the whole lot for £5.5m (by providing The Rangers with a loan!) then said it was worth £20m. Let's not forget there was circumstantial evidence that Green swindled Whyte using the Sevco 5088/Sevco Scotland switcheroo...
Yes, but they can be fun, too!
https://rangerssupportersloyal.wordp.../#comment-2623
Quote:
According to Keith Jackson, who has dined well on the travails of Rangers, we are now on the brink of justice. Before I continue it’s important to note that Keith Jackson is a Rangers man. He followed Rangers as a boy and at one time played for a Rangers under 14 side. The perfect credentials for a career in SMSM. Mr Jackson and his former boss Mr Traynor have selective memories. Day after day they both regaled us with PR puff pieces on Craig Whyte. According to Jackson & Traynor he was a self-made millionaire who had successfully played the markets. Mr Traynor, who was at the centre of the media feeding frenzy, came to the conclusion that he was a billionaire.
No-one checked. No-one even asked the most obvious question as to how Mr Whyte managed to avoid the 2008 crash.
At a sumptuous dinner at SDM’s Jersey home, Mr Traynor and others were presented with a choice. They could lavishly dine on PR pieces from Stephen Kerr, or they could go against the grain and be blackballed. So when Craig Whyte arrived in Glasgow, having acquired the 84% holding of SDM, there was no due diligence by the so-called Scottish mainstream media. The media were hoping that the old back-scratching relationship would continue.
Media careers have been lost on less, but not for Mr Traynor who decided to join Stephen Kerr at Rangers. Mr Traynor received a lucrative salary and share options and then continued to influence others to write pro Rangers stories. Mr Traynor continues to earn from Rangers at Level 5. Informed speculation suggests that his fledgling company has earned circa £600,000 from their part in the underfunded coup d’etat. The phantom @exposingphil claimed that he had a relationship with the Level 5 protagonists and when I put it to him that this organisation would earn £1m from Rangers this year he responded that £1m was accurate, excluding the work preparing for and delivering the coup d’etat. Traynor/Kerr gave us the 3 Bears narrative to assuage our concerns that a convicted criminal was being given the reins at Ibrox. We were led to believe that the consortium of Taylor, Park & Letham were backing King and the implication was that even if King was a heavily indebted white collar criminal, three men of integrity had his back. I’m sure King considers it money well spent. Not his money of course. The invoices are to RIFC at Edmiston drive. The Rangers ST holders paid this bill and will continue to pay the Level 5 invoices.
So all this talk of justice leaves me cold. As Police Scotland continue their inquiries, it’s fairly obvious that Craig Whyte is going to be the fall guy. He is alleged to have falsified records, so I would be surprised if the prima facie evidence did not lead to a conviction for gaining a pecuniary advantage through deception. However, I fail to see the pecuniary advantage. He lost his home and is now personally liable for the £26.5m borrowed from Ticketus and their litigation costs. Is this the justice that Mr Jackson is referring to?
Chris McLaughlin wrote the following in 2012: “After HMRC rejected proposals for a creditors agreement that would have allowed the old club to continue, administrators Duff and Phelps negotiated a sale of assets to a consortium led by Mr Green for £5.5m. He has since formed a new club, now playing in the Scottish Football League Third Division.”
So where is the justice for Rangers fans? We were led a merry dance by the SMSM all the way to administration and beyond. Our club was carved up and sold as distressed assets. Our trademarks, crests and the Rangers brand were sold for a song. We were not allowed to acquire the Rangers SPL share and we find ourselves on a journey back to the top tier that has resulted in a minimum of four seasons in lower tier football and the absence of UEFA participation, We have also had to suffer the ignominy of being called a new club by the state broadcaster and our detractors
I don’t envisage any justice. Just a slap on the wrist for some corporate malfeasance which pales to insignificance when compared to the white collar crime of Dave King.
Jackson and Traynor have not been called to account. Until such time as they are, there will be no justice.
The administrator of 'OldCo', David Whitehouse is also under arrest apparently!
The Daily Record bum-lickers getting it tight from the Guardianestas .
http://www.theguardian.com/media/gre...record-rangers
That makes twice then [emoji6]
http://m.accountancyage.com/aa/news/...ngers-takeover
Sent from my GT-I9505 using Tapatalk
A diminishing audience for a 4 year old tale of woe being one reason and watching lawyers being another as stories in the print media get far greater scrutiny than blogs.
Any nutcase can pump out a blog with all sorts of accusations and innuendo filled with rubbish like "my sources tell me ...." or "I am led to believe that...." Credit to him, Phil's been flogging that dead horse for years and he still has folk not recognizing him for the absolute spoofer that he is.. I recognized within days what I was reading on the blogs about the Rangers meltdown was bitter nonsense fuelled by agendas regarding perceived wrongs from the ancient past. I also wouldn't trust the MSM as far as I could throw it. The likes of the Sun and the Record especially are shockingly poor.
Big Chuck was an absolute barrow boy, a crook IMHO. So was Whyte. The pair of them had in common a brass neck, an endless supply of bull**** and a ton of front.
Within a year though will any of this matter? Rangers will be in the Premiership (much to the relief of the Peter Lawell) and the engines will be re-started on brand Old Firm as it's hawked around and hyped up by SkySports. Clubs like Hibs, Aberdeen & Hearts will be kicked to the side by the MSM/New & broadcast media as Celtic and Rangers pursue common goals. Expect joint sponsorships and absolute utter nonsense to spew from the tabloids(Old Firm : We have to go to England etc) probably from the moment Rangers secure a place in the top flight.
Sorry if my cynicism offends
Rebecca Gray @RGrayHT8m8 minutes ago#Rangers administrator David Whitehouse arrested. He is due at Glasgow Sheriff Court tomorrow
How long are the Hun to be allowed to continually shame and disgrace our game and country ?. Surely it's time for the authorities to admit that they ARE a 'Bad lot' that continue to attract the type that has no respect for the law and continually flout it ?. There's an criminal-nature that's endemic at 'Greyskull' and there's no sign of there being any will for it to stop given that the current CEO is a convicted-criminal - you can almost guarantee what's going on currently will be replicated with King in a year or so !!
A circus. What does it all mean, though? F••• knows!
Mike Farrell @mikefstv 14s15 seconds ago Police Scotland confirm Charles Green has been arrested in 'investigation into the alleged fraudulent acquisition of Rangers FC in 2012'
Mike Farrell @mikefstv 2m2 minutes ago Also, in the last few minutes, Rangers oldco owner Craig Whyte has attended a police station for questioning in Glasgow.
Ahhh, those were the days..........
http://www.dailyrecord.co.uk/sport/f...-green-1271087