Generic Sevco / Rangers meltdown thread

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14-10-2012, 12:33 PM
Jim44

Quote:

Originally Posted by Jack Hackett

A very good read, and 'nail on the head' insightful. TY

http://www.onfieldsofgreen.com/the-green-eyed-monster/

Just flagging this back up as it really is worth reading.
14-10-2012, 04:13 PM
EuanH78

Quote:

Originally Posted by jgl07

The question is: why is Green going for the share issue?

Is he planning some capital spending? The stadium doesn't really need expanding. 50,000 is more than adequate for Division Three. They don't need a training ground as they already have one.

Is he wanting to strengthen the team? Hardly as they have a transfer embargo in place for the next 15 months.

So why dilute his ownership with a share issue?

The only explanation is that he is running out of cash. If he is short in mid-October after 36,000 season ticket sales and playing to full houses at home, this suggests that his financial model is flawed.

The income will be way down on last season due to the discounted prices and high number of concessionary tickets not to mention the near collapse of TV income. The wages bill is almost certainly the highest in Scotland bar Celtic. The running costs of Ibrox and Murray Park will be as high as previous years.

David Murray couldn't balance the books even with SPL TV cash, regular Champions' League group stage appearances and tax dodging on an industrial scale. Bill Miller and his financial advisers had full access to the books and concluded that there was no way Rangers could be run (in the SPL) without losing in excess of £10 million a year or more.

Personally I dont think Green cares very much whether the Huns are sustainable or not. Just my opinion, but the share issue is to make him some money in short time and he can get the hell out of dodge before it goes tits up again. At least thats what I hope is happening :greengrin

The thread that keeps on giving!
14-10-2012, 05:06 PM
CropleyWasGod

Quote:

Originally Posted by EuanH78

Personally I dont think Green cares very much whether the Huns are sustainable or not. Just my opinion, but the share issue is to make him some money in short time and he can get the hell out of dodge before it goes tits up again. At least thats what I hope is happening :greengrin

The thread that keeps on giving!

If I have read recent reports correctly, he says that he will underwrite the issue, and take up any unsold shares himself. Hardly a strategy to make any money....:greengrin
14-10-2012, 05:20 PM
Seveno

Quote:

Originally Posted by CropleyWasGod

If I have read recent reports correctly, he says that he will underwrite the issue, and take up any unsold shares himself. Hardly a strategy to make any money....:greengrin

Well I don't think he's ever knowingly told the truth to date so no need to expect him to change that habit now.
14-10-2012, 06:42 PM
Jim44

Green has publicly apologised to Aston Villa, claiming he meant no offense. Since when did calling someone 'useless' not constitute offence? His apology is even more offensive than his original remark.
14-10-2012, 07:12 PM
green glory

Green is a hero. He's going drag them to hell.

I notice Verminmedia is down, pity because I love a Sunday evening ****ting my trousers in laughter at their delusional cretinism.
14-10-2012, 08:19 PM
LeighLoyal

Quote:

Originally Posted by Jim44

Green has publicly apologised to Aston Villa, claiming he meant no offense. Since when did calling someone 'useless' not constitute offence? His apology is even more offensive than his original remark.

If he didn't mean any offence, then what the xxxx did he mean? :confused: I can just about buy he's whipping the Orcs into a frenzy, or trying to, but the guy is totally off his dial, and not in a nice way. Sinister creep of a guy.
14-10-2012, 08:37 PM
HUTCHYHIBBY

Green is a dangerous character, Ibrox will be even more unpleasant whenever Hibs or Celtic have got to play at Ibrox next.
14-10-2012, 08:40 PM
Hibercelona

Quote:

Originally Posted by HUTCHYHIBBY

Green is a dangerous character, Ibrox will be even more unpleasant whenever Hibs or Celtic have got to play at Ibrox next.

He's more of a danger to himself than anybody else, the man should be locked up in a padded cell.

I can't see Ibrox being more unpleasant than it has been before, surely it just isn't possible?
14-10-2012, 08:51 PM
EuanH78

Quote:

Originally Posted by CropleyWasGod

If I have read recent reports correctly, he says that he will underwrite the issue, and take up any unsold shares himself. Hardly a strategy to make any money....:greengrin

Does Green have that kind of money?

Anyway, stop spoiling it for me with things like reports and facts :greengrin
14-10-2012, 09:00 PM
ballengeich

Quote:

Originally Posted by CropleyWasGod

If I have read recent reports correctly, he says that he will underwrite the issue, and take up any unsold shares himself. Hardly a strategy to make any money....:greengrin

The issue isn't going to be underwritten. While he's said he'll buy the unsold shares, he hasn't committed himself to a price for them:greengrin
14-10-2012, 09:07 PM
CropleyWasGod

Quote:

Originally Posted by ballengeich

The issue isn't going to be underwritten. While he's said he'll buy the unsold shares, he hasn't committed himself to a price for them:greengrin

Fair point :greengrin

I am not an expert on share issues.... but if they are offered at a certain price, is he not bound to buy them at that price? Or, if he then waits until they are listed on the AIM, would he buy them at the market rate.....which would be diddley-squat by then? :rolleyes:
14-10-2012, 09:19 PM
jgl07

Quote:

Originally Posted by CropleyWasGod

Fair point :greengrin

I am not an expert on share issues.... but if they are offered at a certain price, is he not bound to buy them at that price? Or, if he then waits until they are listed on the AIM, would he buy them at the market rate.....which would be diddley-squat by then? :rolleyes:

You clearly don't understand Yameconomics. He would be buying them from himself!
14-10-2012, 10:08 PM
ballengeich

Quote:

Originally Posted by CropleyWasGod

Fair point :greengrin

I am not an expert on share issues.... but if they are offered at a certain price, is he not bound to buy them at that price? Or, if he then waits until they are listed on the AIM, would he buy them at the market rate.....which would be diddley-squat by then? :rolleyes:

I'm not trained in this either. It would be educational if someone who is an authority can tell us what happens to the unsold shares when an issue which is not underwritten falls short of its target.

Surely the lack of underwriting can't be a result of an inability to find anyone willing to take on the risk.
15-10-2012, 11:03 AM
PatHead

Villa's fans take on Green. Don't think they are too impressed.

http://www.astonvilla.vitalfootball.....asp?a=7513660
15-10-2012, 12:12 PM
Seveno

If Chuckie is 'underwriting' the IPO, then he has to retain all the shares that are not purchased and pay for these at the full price.

The biggest mystery is that an IPO requires a significant amount of financial details including historical and projections. The utterances of an escaped lunatic from lalaland would not normally meet these qualifications.
15-10-2012, 12:45 PM
jgl07

I understand that the IPO floatation will be conducted in Euros.

Rangers can't deal with Stirling!
15-10-2012, 02:06 PM
Killiehibbie

Quote:

Originally Posted by wee_hibee

He's more of a danger to himself than anybody else, the man should be locked up in a padded cell.

I can't see Ibrox being more unpleasant than it has been before, surely it just isn't possible?

Ibrox of the last few years was a pleasant day out compared to 30 odd years ago.
15-10-2012, 02:33 PM
Wheat Hound

Can someone give me a brief account of why the Hibs 'stopping' and then 'reforming' in circa 1891 is different to the sevco scenario i.e. why we remained the same club and not a completely new company/club? Would be Mich appreciated so i can girfu a few Gorgie tramps.
15-10-2012, 02:52 PM
green glory

Quote:

Originally Posted by Wheat Hound

Can someone give me a brief account of why the Hibs 'stopping' and then 'reforming' in circa 1891 is different to the sevco scenario i.e. why we remained the same club and not a completely new company/club? Would be Mich appreciated so i can girfu a few Gorgie tramps.

I'm pretty sure it was legal at the time but company law has changed since then, hence the difference.
15-10-2012, 03:22 PM
StevieC

Quote:

Originally Posted by Wheat Hound

Can someone give me a brief account of why the Hibs 'stopping' and then 'reforming' in circa 1891 is different to the sevco scenario i.e. why we remained the same club and not a completely new company/club? Would be Mich appreciated so i can girfu a few Gorgie tramps.

I wasn't around at the time .. but I suspect that it would be down to debt owed and modern day changes regarding administration and liquidation.

I suppose you could liken it to an amatuer football club folding because there were no funds, or enthusiastic people to run it. A season later a couple of former players decide to start the team up again and get the funds together for league entry.

Totally different to being thrown out of a league for not paying your dues and having the local butcher chasing you round the park with a meat cleaver over unpaid bills for the pies.
15-10-2012, 03:59 PM
PatHead

Think this was covered a few thousand pages ago. Can you not read the whole thread!!!!!

Sure Hibs never actually folded we just didn't have a team or the funds to compete for a couple of years before the original "Grandpa " Farmer and his mates helped reconstitute the club, got a team together and helped us return to the leagues.

Jonnyboy might tell you if you ask him nicely.
15-10-2012, 04:37 PM
LeighLoyal

I see Zombie Media is still foo ked. A big thumbs up to whatever good guy put a trojan in the Orc works. :thumbsup:
15-10-2012, 07:50 PM
VickMackie

Quote:

Originally Posted by PatHead

Villa's fans take on Green. Don't think they are too impressed.

http://www.astonvilla.vitalfootball.....asp?a=7513660

I liked bobthebuilders comment. They'd only like two Scottish teams who are relevant. Hibs and Celtic. :greengrin
15-10-2012, 08:21 PM
JeMeSouviens

Quote:

Originally Posted by Wheat Hound

Can someone give me a brief account of why the Hibs 'stopping' and then 'reforming' in circa 1891 is different to the sevco scenario i.e. why we remained the same club and not a completely new company/club? Would be Mich appreciated so i can girfu a few Gorgie tramps.

The Hibs "pause" came pre-incorporation, ie. the club hadn't formed a limited company. It never went out of business as such so it was possible for it to resume as the same entity. Hibs incorporated as a limited company in 1903 and the club has existed as that legal entity to the present day.

The Original Huns incorporated in 1899 and that legal entity still exists but will shortly be liquidated. When it failed to exit administration, the death of the Huns became an inevitability. It cannot continue to exist as that entity without satisfying its creditors.
15-10-2012, 09:13 PM
RyeSloan

Quote:

Originally Posted by JeMeSouviens

The Hibs "pause" came pre-incorporation, ie. the club hadn't formed a limited company. It never went out of business as such so it was possible for it to resume as the same entity. Hibs incorporated as a limited company in 1903 and the club has existed as that legal entity to the present day.

The Original Huns incorporated in 1899 and that legal entity still exists but will shortly be liquidated. When it failed to exit administration, the death of the Huns became an inevitability. It cannot continue to exist as that entity without satisfying its creditors.

Sure Hearts had something similar at the start of their history as well did they not?
15-10-2012, 10:06 PM
Eyrie

Quote:

Originally Posted by SiMar

Sure Hearts had something similar at the start of their history as well did they not?

I think they took over a club called St Andrews. Can't remember why though - anyone know?
16-10-2012, 06:45 PM
green glory

http://www.philmacgiollabhain.ie/hur...rox/#more-3237

Phil is usually on the money. The Ministry of Justice are also saying the FTTT verdict will be announced this/next week.

Joyous!!!
17-10-2012, 10:57 AM
PatHead

Sad thing is that even if everything Craigie Bhoy says is true the Scottish press will just ignore the truth and pump out more about Craigie being to blame for everything.

Chuckie, Walter (Teflon) Smith, Fat Swally and Mintybags Murray have never and never will do anything wrong if you believe these rags and the Beeb.
17-10-2012, 10:59 AM
PatHead

Quote:

Originally Posted by green glory

http://www.philmacgiollabhain.ie/hur...rox/#more-3237

Phil is usually on the money. The Ministry of Justice are also saying the FTTT verdict will be announced this/next week.

Joyous!!!

Hope CWG and Cav G are resting up to interpret the verdict for us as I suspect it will not be in words of one syllable which we will understand!

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