A second arrest warrant issued for he who has 'off the radar' wealth. And I was told tonight that the IPO is being torn apart next, which could cause issues with the current setup as the training facilities and ground were something to do with it?
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A second arrest warrant issued for he who has 'off the radar' wealth. And I was told tonight that the IPO is being torn apart next, which could cause issues with the current setup as the training facilities and ground were something to do with it?
What on earth did these institutions ever think they were going to get from investing in Rangers.At least Ashley knew what he was doing.
It would'nt be the institutions themselves , but individual fund managers with Rangers leanings who would think it a good idea to take a punt on the shares and help there Club at the same time. A half million is nothing when its not your own money and can be excused as just a bad call when it all went bad.
When I wrote my previous post, my head was spinning a bit too.
I'm pretty sure you're correct.
However, the only source I can find was this:-
“For the avoidance of doubt, Sevco 5088 Limited bought the assets of the Rangers Football Club and then transferred them to Sevco Scotland Limited so that all the assets would be in the Scottish registered company that is Rangers FC.”
.. from... ahem...a representative of Philip Green. :cb
That said, BDO will have a right to clarify the issue, as well as the price paid.
"Philip Green sues hibs.net for slander"
"CropleyWasGod forced to sell Cropley Towers to pay court costs"
All I want to know is when will SDM's name come-up in all these rumours, gossip etc - he's the one that started the ball rolling with their 'Dodgy deals/money/taxes' etc ?
Its pretty obvious the Rangers are toiling for cash. Awaiting Ashley's next loan to allow them to pay the wages for the month.
You got to wonder what is not getting paid at the moment. In both the other Rangers and Yam admins. a huge list of creditors appeared when the insolvency people were called in.
I bet there already is a lot of pending payment /final demands on the intray.
I wish wee Black would blab about his bonuses not being paid. A 5 point penalty like Livvy would be nice.
Livi also have an SFA hearing about dual interests of club ownership (aside from the SPFL one that resulted in today's punishment)-
http://www.dailymail.co.uk/sport/foo..._campaign=1490
Although Ashley's got less than 10% shares, article 13 of the SFA Handbook seems to suggest that "any influence in management or administration" of a club counts as an "interest" in a club. Can't seem to get link to the PDF posted, but it seems broader than just shares and strict ownership of a club.
Was wondering if having a club dependent on loans, or having a guy in the boardroom, would count as an "influence in management or administration"? (The rule includes influence through an associate).
It mentions shareholdings of 3% or more, but also that "prior written consent of the board" can be given for dual interest cases. Was also wondering if this was the basis for the 10% agreement Ashley and the SFA were reported to have?
Also says in article 13 that the SFA have the power to find out who the shareholders of a club are, which seems to have be a matter for debate in the The Rangers case.