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Or, its Ibrox payday tomorrow, maybe does not want to be around when the cashlines don't produce the readies.Quote:
Originally Posted by CropleyWasGod
If Ashley is losing the vote , he is not going to release more cash to the black hole and Super Ally's wealth fund.
Think it was the 1st of Feb (or thereabouts) he took over at the City Ground. West coast media poor as usual and just filling their sections with regurgitated guff!Quote:
Originally Posted by bingo70
Does anyone want to take the very hot seat in their current state??
;-)Quote:
Originally Posted by Bostonhibby
I think King will win the vote. I also think this will be bad for Rangers. They will have to come up with a lot of cash quick sharp to pay Mike Ashley.
:agree: And then there will be the bad smell whilst they fiddle a way round the fit and proper person test and the UK company law problem. Id prefer King as I suspect Ashley would have been more likely just to legally chuck as much money as they need at the club to gain success - With King "running the show" however he does it Ashley still holds quite a few aces and they ain't going to get them cheap or at all if he doesn't want to play ball.Quote:
Originally Posted by Ozyhibby
King / the variable number of bears/the rangers men actually have very few tactical advantages over Ashley hence their appealing direct to the shareholders on the basis of their apparent rangers credentials. King is the shadier of the two by some way but the truth is he is Hobsons choice - they don't want Ashley and no one else is lining up claiming to have the money. Not since Craig Whyte and Cheeky Charlie anyway - both of whom were welcomed as saviours, ala King.
I don't think there's any doubt that King etc will win the vote. Easdale has never had the support of the fans so it definitely seems as if he's jumped before being pushed. It's what happens after King wins the vote that is intriguing!Quote:
Originally Posted by CropleyWasGod
There seems to be a general assumption that if King wins, then his 1st struggle will be to repay MA - admittedly I know next to nothing about the legalities/conditions of these 'loans' or business-matters but bearing in mind King's 'Record/Form' and general character, I can see a very long protracted court-battle coming out of this ! Or as the previous club did - the big BUMP !!
If they liquidate they lose the property assetts I think as Ashleys loans are secured on them he has first call - like I said before they are playing with the big boys this time rather than mugs they can walk over because they are Rangers, or the rangers.Quote:
Originally Posted by Deansy
That's my take on it.Quote:
Originally Posted by Deansy
Indeed, DK has already alluded to that. Paraphrasing him, he said that he would "look at" the MA loan. I don't see him repaying it on Day 1.
Which leads to MA's reaction to that. Given that he has security for his loan, he may move very quickly to act on that.
So we may well have a "who blinks first?" situation.
As you say, it will probably end up in Court, which will be costly for the club. :cb
Quote:
Originally Posted by CropleyWasGod
What are the chances of Admin part 2 and The Rangers finishing in 7th place (based on current league table)?
Not any greater, or lesser, than they have been for a while. The cash continues to diminish, and time is not on their side.Quote:
Originally Posted by Golden Fleece
If MA keeps control of the boardroom, more cash will be needed.
If DK gets in, the same, but with the added pressure of MA's loan, and the danger that MA may call in his security. In a way, administration might be more likely if DK takes control. :cb
I doubt it would be a very long administration. King & co would end up owning them anyway and Ashley would get shafted for his loans.Quote:
Originally Posted by CropleyWasGod
Actually that could be pretty funny.:greengrin
Thats my take. If DK takes control he will have to fund the shortfall of about 8m a year without being able to take any security as Ashley has all that.Quote:
Originally Posted by CropleyWasGod
He also won't have any income from merchandising, stadium advertising etc. Ashley owns all that now.
There will also be the problem of owing a large amount of money to Ashley, the man he has just forced from the boardroom.
In short, I think that there was no chance of admin under Ashley but with King in charge there is a big chance.
I thought the Apaches were the "wee arra people" due to their skill as marksmen.:greengrinQuote:
Originally Posted by portycabbage
How would MA get shafted? He's the only secured creditor, AFAIK.Quote:
Originally Posted by AndyM_1875
Agree. Ashley should easily extract value from the property his loans are secured against.Quote:
Originally Posted by Ozyhibby
He is but maybe they had already hawked the stadium out earlier?[emoji1]Quote:
Originally Posted by CropleyWasGod
It is indeed payday tomorrow at The Rangers !Quote:
Originally Posted by greenginger
I would rule nothing out.Quote:
Originally Posted by Golden Fleece
If DK gets control I think at some point we will see The The RangersQuote:
Originally Posted by CropleyWasGod
They'll start selling season tickets to raise cash.Quote:
Originally Posted by Ozyhibby
If anyone in all this is not going to get shafted it's billionaire Ashley.
It really is hard to see what he has to lose - not even clear that he actually wants to own the embarrassment that is the rangers outright - but if he doesn't get the whole mess he is going to earn on his shares and the merchandising and other image rights that are his regardless.Quote:
Originally Posted by Jack
You could say he took advantage of their desperation when none of the other talkers were willing to put up any alternative cash. Shame really.
Think if you get in to bed with the devil your going to get rodgered big time, They had no other options when they had the begging bowl out and MA has taken full advantage of their dire situation,only one winner here and its no the peeepleeee:na na:Quote:
Originally Posted by Bostonhibby
So Sioux meQuote:
Originally Posted by Phil D. Rolls
:cb
looks like the BIG CHIEF will be SITTING and telling them BULL ++++Quote:
Originally Posted by Springbank
But then again they may just Bury Thier head at Wounded knee ,if you believe in Ghost DancersQuote:
Originally Posted by gorgie greens
Not really kept up lately but can someone confirm to me what exactly King will get when he takes over unless he spends a fortune to pay off Ashley?
My recollection is Ashley has
All merchandising rights for the forseeable future
The badge for the forseeable future
Security on the stadium
Security on Edminston House
A loan repayable on demand of £10m
2 seats on the board
He won't give that up lightly or for nothing.
The new series is just about to begin of this long running saga.
IIRC he doesn't have security on the stadium.Quote:
Originally Posted by PatHead
He does on Murray Park however.
That is right, is there not a rumour that Craig Whyte's dad is involved somehow and has a charge or ownership on the stadium. That may just be a Celtic myth though but I think that is what Bomber Brown was on about when he rallied the troops about the title deeds.Quote:
Originally Posted by scoopyboy
Is there any way to check?
So difficult to keep up, it was like the second series of Broadchuch.
The title deeds are an irrelevance.Quote:
Originally Posted by PatHead
If there is a security, it should be registered at Companies House (and one other place, whose name escapes me for the moment).
However, if it isn't registered in either of those places, that doesn't mean to say that a charge doesn't exist.
He has only released the first half of the £10m loan I think but a chunk of that was to repay his first smaller loan, so god knows at the moment how it all stacks up! The two board seats are tied into the loan conditions.Quote:
Originally Posted by PatHead