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Quote:
Originally Posted by Marco G
He has since claimed that he saw the bids “with his own eyes”... hence the retraction and apology to Sevco.
This begs the question - is it normal for journos to see actual bids (which is in reality an offer from one corporate entity to another)?
How did he see them? Presumably summoned to the fax machine room at Ibrox.
All very weird.
Quote:
Originally Posted by HoboHarry
It makes sense, albeit his ‘source’ is probably his own fevered imagination.
Or Kerrydale StQuote:
Originally Posted by jacomo
Perhaps you're right. I was crediting them with the ability to occasionally act like grown ups. Probably a step too farQuote:
Originally Posted by JeMeSouviens
Jeezo, and they're probably wondering why no-one buys their rag any more.Quote:
Originally Posted by Ozyhibby
I suppose we'll just have to wait and see how much he does actually go for - presumably in the summer. He has got the rest of the season to go and could up his price to maybe 10m (in whatever currency sounds best).
My money is on it being a whole lot of sh**e and if it were true its just a potential money laundering scam to move some cash somewhere. The guy who bought AC Milan is an unheard of business man who manged to
get financed from a US fund. He has no track record. It is so easy to make fake stories from china but as we know jabba and the gang don't cover all the stops so eventually the truth will come to the surface.
These guys at Rangers are total sharks........ but they have a harder time today because their team is run of the mill and there is only so much the sfa can do keep them up top. 10/15 years a go Hibs would never have
got a penalty at Ibrox !
And of course, being the true professional journalist he decided there was no need to photograph these 'bids' as the Scottish Football 'media' are held in such high esteem, his 'word' would be enough ...................................Quote:
Originally Posted by jacomo
I think "I saw the bids with my own eyes" is a euphemism for "didny want ma windeas tanned/wanted the twitter death threats to stop".Quote:
Originally Posted by Deansy
Fair point but have you looked how much they value sjm?Quote:
Originally Posted by Golden Fleece
Ggtth
Morelles dropped for tonight. Imagine unsettling your own striker.[emoji3]
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Kim Whyte v Craig Whyte back in court this week for a 2 day proof hearing. I'm assuming this is the matter of non payment of maintenance payments to his ex wife. The once lauded Chairman of the old Rangers once described as having multi millions 'off the radar' in court for failing to pony up aliment. Dearie me.
:greengrin
mon the cabbage!!!
I think you'll find it was "billionaire".Quote:
Originally Posted by lgnsh70
Quote:
Originally Posted by Ozyhibby
With the Chinese window still open, surely this ‘bidding war’ has got a way to go?
What are they going to do when the £8m bids don’t materialise?
Sounds a bit like Chinese whispers to me.Quote:
Originally Posted by Cilla Black
Bird on SKY had him at £8.5m this morning.Quote:
Originally Posted by jacomo
Record reporting that Chinese club no longer interested. [emoji23]
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Interesting use of the words 'no longer'.Quote:
Originally Posted by Ozyhibby
Colour me amazed. :rolleyes:Quote:
Originally Posted by Ozyhibby
I was hoping they would make a (real) bid of around £500k.Quote:
Originally Posted by Ozyhibby
https://uploads.tapatalk-cdn.com/201...00c0a4a2fb.jpg
http://www.bbc.co.uk/sport/football/42954937
If I am reading this correctly, does it mean the Chinese club are actually willing to pay 16 million
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That's part of what exposed the lie - in order for a Chinese club to pay Sevco 8 million they would actually end up paying 16 million and that is simply absurd. Just as it is absurd that Fat Jabba can't even make up a story without it being dismantled within a day.Quote:
Originally Posted by Radium
The whole £9m Morelos story tells you an awful lot about the sporting media in Scotland. Last night's Sportsound wittered on for absolutely ages with Chick Young (who allegedly retired but is never off the radio) going on and on about how it would have been sensible for Rangers to take the China money for Morelos and buy Louis Moult for half a million while pocketing the change.
Nobody challenges the notion that it's all horse**** in the first place or that there's really no justification whatsoever to suggest that the giant man-baby Morelos could be a £9m target for a Chinese team.
The good news is that the whole thing appears to have unsettled the player who now wants more money because he's worth £9m.
Quote:
Originally Posted by Radium
Plus the player's signing-on fee and as widely reported an annual salary of £3m.
Still, we should be grateful. Brightens up a dull day. :greengrin
To give credit where it's due - Chris Sutton and Stephen Craigan were openly laughing about it on BT at the weekend.Quote:
Originally Posted by Alan62
Meanwhile, Jabba Traynor went for a walk on the beach to get away from it all but he couldn't escape from getting more feed-back on his '£8M for Morelos' wheeze and how it's being perceived by mature adults -
Attachment 20168
there's no way Morelos is worth £8m. I mean who in their right mind would offer £9m for a player in the Scottish league. I'd like to see evidence of this £10m bid, I mean £11m who are they kidding. Saying that £12m would really help them out as they are skint.
£13m for Morelos, aye right.
Are you including add-ons in this?Quote:
Originally Posted by Hibby70
Quote:
Originally Posted by Hibby70
:greengrin
Vegetarians then? :dunno:Quote:
Originally Posted by JeMeSouviens
DR reporting that they have agreed a £3m overdraft facility with Close Brothers, secured on the training ground and car park.
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Should have taken the 8 million for the Colombian I reckon. Close Bros won’t be cheap.Quote:
Originally Posted by CropleyWasGod
A fine idea and I applaud their long term economic thinking........Quote:
Originally Posted by CropleyWasGod
What happened to Dave King’s money? [emoji23]
Close Brothers will get their pound of flesh out the Huns. Like taking out a 2nd charge on your house, never a cheap option.
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Gets them to the next lot of Season Ticket Sales and they will be assuming European FootballQuote:
Originally Posted by HoboHarry
But if they achieve that Its time to splash the cash on a new Manager and backroom (unless they make do with what they have ) New players as they must progress in Europe and current squad wont
King is now more visible and Hands on with his one week out the month staying in Glasgow do wonder what plan he is hatching next
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Wonder if any of the mainstream media Sevco wh**e's will question the glib one not putting in his own money? :wink:Quote:
Originally Posted by Ozyhibby
Google review, one unhappy customer "UNDER NO CIRCUMSTANCES TOUCH THIS COMPANY"....... Brilliant.Quote:
Originally Posted by HoboHarry
Trust pilot reviews are funny :greengrin
https://uk.trustpilot.com/review/www.closebrothers.com
Boy oh boy - would like to listen to them battling it out on the phone with the glib one when it all goes breasts skywards :faf:Quote:
Originally Posted by vince1973
Close Brothers sound like a strange Christian sect-from both sides of the Great Western Divide.
Who are they?Quote:
Originally Posted by ancient hibee
The answer to Rangers' issues is clearly to employ the guy who scammed the Accies.
(Any suggestion that they already did is not implied, and is a figment of your fevered mind.....)
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Sevco's very own Grim Reaper......Quote:
Originally Posted by Billy Whizz
Attachment 20172
I hope feverishly......
Merchant bankers.Quote:
Originally Posted by Billy Whizz
Oh, you mean Close Brothers?
Merchant bankers.
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Deja vu?
https://uploads.tapatalk-cdn.com/201...e9bbe199c8.jpg
https://uploads.tapatalk-cdn.com/201...645ccf9d68.jpg
This is going to be fun.
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IIRC, the previous Close Brothers deal was the loan for the catering equipment. They could rip out the pie-warmers if they didn't get paid.Quote:
Originally Posted by Ozyhibby
This one has higher stakes :)
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https://uploads.tapatalk-cdn.com/201...865d3a04ba.jpg
https://uploads.tapatalk-cdn.com/201...3431c4ff79.jpg
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What an incestuous nest of vipers - hell mend Sevco for getting involved with that rabble.....Quote:
Originally Posted by Ozyhibby
To be fair to King, he has played a blinder here.Quote:
Originally Posted by Ronniekirk
If Sevco do miraculously manage to have a decent run in Europe and/or sell some players for value, he's a genius.
If (as will almost certainly be the case) they have taken on crippling debt they won't be able to repay and Close Bros will be the fall guys who press the insolvency button.
Stakes or SteaksQuote:
Originally Posted by CropleyWasGod
Both ways they could be burnt. :)
A total 'trust score' of 1.5 out of 10. Brilliant - Couldn't have been paired with a more deserving football team. :agree:Quote:
Originally Posted by vince1973
If Sevco collapse it is King that will get the blame no matter what.Quote:
Originally Posted by ehf
Close brothers won’t think twice about pushing the button if they think they will lose money.
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Aye but he will be safe in South Africa and won't be giving a flying one when Paul Murray et al are getting their windows smashed in. I do wonder who set this deal up? Any ideas?Quote:
Originally Posted by Ozyhibby
Quote:
Originally Posted by Ronniekirk
Us and the Dandy Dons need to get our s*** together. Would love it if Sevco finish 4th or lower.
Obvs the Dons can’t get points off them or Celtc so will need points elsewhere, whereas we need to avoid our customary winter dip and have a strong run in.
Disagree (with respect!). Before the Close deal, there were no significant "external" creditors likely to trigger an insolvency event, so a decision to put Sevco into administration would have been one for the directors to take (and there are strong rumours that they explored this option recently). Now Close are in the picture and, as you rightly say, will not think twice about it. The clever thing is the quantum; King and co can deflect the blame by saying they were about to turn the corner but were prevented for the sake of a measly £3m.Quote:
Originally Posted by Ozyhibby
Quote:
Originally Posted by ehf
If the Huns buy that they are sinking to even deeper levels of stupidity.
They are very close. In fact people say they are like brothers.Quote:
Originally Posted by Billy Whizz
So, it's far more economically prudent to get an overdraft for £3m rather than accepting £8m ??Quote:
Originally Posted by greenlex
Like all of the previous fly-by-nights/chancers/crooks etc who've taken over the reins at 'The place where football goes to die', the full extent of King's 'business-dealings' (cons/frauds & outright theft) won't be known (or announced publicly) until after his departure - which'll mean another 'Duped' campaign's on the cards !. 'Daily Rectum's probably already got it's front-pager ready to go to press with the headline - 'You won't believe this but .......'Quote:
Originally Posted by Ronniekirk
Quote:
Originally Posted by Deansy
This time around, Keith Jackson has been careful to include some scepticism in his copy.
Of course the DR faithfully repeat the key propaganda, like multi-million bids for Morelos.
But if it all goes wrong again, he will be able to pull enough choice quotes to ‘prove’ he was never taken in by the Lying King.
The propaganda is now almost perverse in it's delivery & justification. Stewart Robertson says the money is almost incidental, it's the fact that a bank is showing faith in them that counts. Yep they have so much faith that the loan is secured against assets with ostensibly a far greater value. SR also says it's unusual for a £30m business not to have a banking facility, No s☆☆t Sherlock! By making this statement all he does is draw attention to the fact that reputable financial organisations won't go near The Rangers. Still it was good to see the return of the phrase "self sufficient". Hopefully they'll be as successful in their self sufficiency as our neighbouring charlatans were.
We can be sure now though that the source of soft loans has now totally dried up. That means that next season they will have to live within their means which will be tricky as they are already forecast to need £4m of external funding.
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Not so sure that's true. I think Murray Park is unsuitable for housing because of flood risk and I can't see an office block in Govan being worth much.Quote:
Originally Posted by brog
Edit: I see it's not MP as security, it's Edmiston House and the Albion car park which is across the road from Ibrox.
The loan indicates that King isn't supplying the shortfall, estimated in the accounts at £4m, needed to get them through this season and that the other directors aren't prepared to provide further donations (investment if you're a fan).
When the concert party took over the plan was to spend a few million for a few years to gain promotion, qualify for Europe then become serious rivals to Celtic, at which point increased income from Europe and transfer profits would cover losses in domestic competition. The third step hasn't happened yet so they've a choice - put in a bit more hoping that the plan comes to fruition next season or cut spending to match costs with the concomitant risk of ticket income dropping if the bears can't see anything better than a distant second place in prospect.
The short term appointment of Murty and the loans signings with an option to buy suggest that the decision's being deferred until the summer transfer window. If they can get through a few rounds of Europa league qualifying, make even a couple of million profit on transfer sales, and get a few of the high paid flops out the door, if only on loan, then they could break even next season.
I can't see another flop like Progres and I think Morelos can be sold at a profit (though I don't believe the Chinese rumour). The strategy's risky but I don't think it's completely unrealistic. More interesting times ahead.
They also planned a share issue (read, - to fleece their gullible punters) which for one reason or another (the takeover panel ruling being the latest) they've never been able to get off the ground.Quote:
Originally Posted by ballengeich
A pretty fair analysis and that's how I see it.Quote:
Originally Posted by ballengeich
Although the last paragraph - the lower down the league they finish, the earlier they'll have to start back, the harder European progression will be. Morelos may be sold at profit, but he'll need to do a bit better against defenders than he did against young Porteous last weekend for that to happen.
It is risky, and they've got as much chance of making a horse's arse of it as they have of pulling it off.
Interesting times ahead, one of the interesting things being that we may have a big say in it all. If we can consistently put results together (without the distraction of the cups) then we might bump them down the league a bit and make their job a great deal trickier.
They are currently at a similar level to Aberdeen who have had 4 successive failures to get to the EL groups. In fact they haven't managed to get to the final qualifying round (where the quality of teams is such that they'd almost be guaranteed to lose anyway). Their chances of getting to the group stage with a rookie manager and their current squad are remote to say the least.Quote:
Originally Posted by Smartie
What money?Quote:
Originally Posted by Ozyhibby
Given the way that the Rand has plummeted against Sterling, I doubt it would amount to much even if he has the fortune the press seem to accept. Even if he had the cash, how is he goininggoing to get it out if South Africa?
King like Murray, Whyte, and Green before him is using other people’s money to prop up the club. If they are being forced to go to what are effectively corporate loan sharks, this probably indicates that the cash from local mugs, sorry donors has finally dried up.
https://uk.trustpilot.com/review/www.closebrothers.com
Loads of reviews saying they're a shower of evil ****s then 3 5 star ones in the last 24 hours including one from "William Orange". :greengrin
Hah, one from 'William Orange', one from some bloke in Paisley, and one whose 5-star review references Phil Macghiollabain, accuses people of being nonces and closes with 'No Surrender' and 'KAT'. It's actually quite impressive that the tribal loyalty extends as far as their loan sharks, even if their PR efforts are a little, umm, naive...Quote:
Originally Posted by JeMeSouviens
Lloyd Cross also is a notorious on line hun. The one who posted the defamatory remarks.Quote:
Originally Posted by JeMeSouviens
KAT = Kill All Taigs. Nice :rolleyes:Quote:
Originally Posted by Aim Here
Quote:
Originally Posted by JeMeSouviens
Indeed.
Added to which, the plan which relies entirely on progress in a European competition worked so successfully last time, right enough :rolleyes:
Did he not post the "really nasty" anti Catholic pictures and video a while back?Quote:
Originally Posted by vince1973
is it not true that the money from Kings family trust was not held in South Africa?Quote:
Originally Posted by jgl07
Also going back to the secured loan it could also be money required in addition to that specified in the accounts. Does indicate they're running out of people prepared to pony up though. Essentially they are spending next year's st money already and this lender will have no hesitation in pulling the plug, having no sentimental attachment to the club.
To be honest and no derogatory pun intended, I think close bros are knees deep in it already. Funny how their name keeps appearing ...Quote:
Originally Posted by Stonewall
Probably, I have removed myself from both Twitter and Facebook so not seen much recently but Cross is a particularly nasty online hun, a classic troll and an evil human being. I am sure his post will be removed as it is defamatory.Quote:
Originally Posted by Is It On....
More evidence substantiating the Huns claim that Morelos is valued at £8m -
(apologies if already posted)
http://www.bbc.co.uk/sport/scotland/43026710
What a belter !!
Nowhere near as bad a miss as the one his fellow huns striker had at Starks Park last season.Quote:
Originally Posted by Deansy
Well yes but his team mates value is about 8 bob, not 8 million......... :greengrinQuote:
Originally Posted by lapsedhibee
Without wishing to hijack the thread, I have been thinking of doing the same for a while, so can I ask why you did that? And how are you getting on? :aok:Quote:
Originally Posted by vince1973
Couple articles with copies of their new loan agreement.
https://thecelticblog.com/2018/02/bl...-of-directors/
https://philmacgiollabhain.ie/2018/0...ficant-lender/
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It's not a loan agreement. It's the document registering the security that Close Brothers have.Quote:
Originally Posted by Ozyhibby
I don't agree with Phil's assertion that it's a loan. The document clearly refers to the "facility".
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What’s the difference, as both will have to be paid back?Quote:
Originally Posted by CropleyWasGod
As in a "secured revolver" credit facility?Quote:
Originally Posted by CropleyWasGod
Can’t believe it is six years since they went into administration
A facility is like an overdraft. You don't need to draw on it if you don't need it.Quote:
Originally Posted by Billy Whizz
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...with every chamber loaded [emoji16]Quote:
Originally Posted by Is It On....
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So he is wrong about the loan but is he right they are a busted flush?Quote:
Originally Posted by CropleyWasGod
You really think they won't draw it down?Quote:
Originally Posted by CropleyWasGod
I have no idea if they are. I'm not party to their internal records, and I'm not sure he is either.Quote:
Originally Posted by PatHead
However, he has based his conclusion on an incorrect assumption. Both his and the Celtic blog have put their green glasses on here, I reckon.
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Damn. Was looking forward to a good nights sleep dreaming of them going into admin again.Quote:
Originally Posted by CropleyWasGod
I don't know. My point is that Phil et al are running about accusing RFC of lying, with all the implications of that. That document says to me that they're not lying.Quote:
Originally Posted by HoboHarry
In some ways, an overdraft could be worse for them if they draw all of it. It would be repayable on demand. A loan wouldn't be, as long as the repayment schedule was kept to.
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I stopped FB because it was depressing me, that was 18 month ago and I don’t miss it one bit. Twitter was a forced retirement 😉 their T&Cs dont allow relentlessly calling piers Morgan a see you next Tuesday apparently. I kinda missed it a first but not now. I think it’s been good for my mental health I don’t get bombarded with stuff all the time and I usually only lift my phone to answer it or change song or podcast. I still have an IG and you tube account though.Quote:
Originally Posted by The Green Goblin
Of course some might say its a carefully constructed ruse to convince the Court of Session Inner House that the Lying King is indeed impecunious in absence of direct control over the disputed trust fund arrangements. The smokescreen of the alleged bids of 8 million plus planted into the obliging Jabba controlled Scottish media could be construed as the forerunner to placate the supporters while putting into place the plan to once again involve the close brothers. Whereby giving the impression of the Lying King being pot-less yet the club with millions of transfer money obtainable in the future. I'm probably stating the obvious but there you are.Quote:
Originally Posted by CropleyWasGod
mon the cabbage!!!
Some might say that Close Brothers were involved in a conspiracy to pervert the course of justice???Quote:
Originally Posted by lgnsh70
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I've given a reasonable theory of the Lying King attempting to bolster the impression he's impecunious and not in direct control of the disputed trust funds. Its up to others to either give it some merit or not.Quote:
Originally Posted by CropleyWasGod
mon the cabbage!!!
The accounts estimated that they needed £4million put in this season. The way I see it is that soft loans have dried up so they've borrowed enough to get them through to when season ticket money starts coming in. In the accounts there was also an estimate of just over £3m needed next season if players in were funded by players leaving. We don't know what other assumptions went into that estimate, but they need to make money on player transfers in the summer.
In crude terms, if they bring in £3m net on player deals they break even next season and will be looking for a short-term loan again around this time in 2019. To avoid needing a loan next season they need £6m profit from summer deals. Have they staked the house on Morelos?
That £4m was a minimum.Quote:
Originally Posted by ballengeich
There was also a note somewhere ( canny find it for now), which said the forecasts were based on their achieving the Europa League (group stage) for 3 out of 5 years.
Given the time at which the accounts were produced I'd think the £4m wouldn't be too far out, as income and spending for the remainder of the season would be fairly well known. While Phil Mac G is a bit hit and miss, he was posting a couple of weeks before the Close Bros announcement that Rangers were seeking emergency funding because King had reneged on the commitment to cover the season's loss. He also claimed that Alistair Johnston and one of the Hong Kong lenders had put £1m + for the January bills. Given that he seems to have had information before it appeared elsewhere and the consistency of the arithmetic with the accounts estimate I'm inclined to give him credence on this one.Quote:
Originally Posted by CropleyWasGod
If the Close Bros money is in addition to a £4m loss then the position's a lot worse than had been predicted and it's hard to see an escape strategy.
I think longer term forecasts were for 3 from 5 years in the Europa League group stage to break even. The auditors' figure of £3m was for next season, but the assumptions and approximations behind that are unclear. The point I was trying to make is that the forecasts that have been given assume that player costs are neutral, but if they can start making a profit on transfers then some of the prophecies of insolvency begin to look like wishful thinking.
Using transfer profits was always central to the concert party's plans as it has been to Celtic's finances in recent years.
I'm not claiming that their position isn't precarious.
Quote:
Originally Posted by CropleyWasGod
I’ve said it before, but for the greater good of humanity Hibs and the Dons need to finish above them in the League.
Of course they can still qualify for Europe via the Scottish Cup - hopefully someone else can take care of that.