Generic Sevco / Rangers meltdown thread

[Lungo--Drom]

I take my hat off to you sir, this must be the best post of the day!!! :) It isn't just you that wants that outcome.... :D

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Is it just me that wants them to stumble on for a bit longer and finally go bust on the 12th of July?

How ironic that would be

[silverhibee]

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According to the BBC news, McCoist has had discussions with two of the new bidders, who will remain annonymous. Come on now, Sally, as a man who demands transparency, let your supporters know who they are.

Wee demand to know who these bidders are.


Hot of the press. http://img.dailymail.co.uk/i/pix/200...BC_600x365.jpg

[Spike Mandela]

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Wee demand to know who these bidders are.


Hot of the press. http://img.dailymail.co.uk/i/pix/200...BC_600x365.jpg

Coffee spat all over keyboard with that one.

[Caversham Green]

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But the whole point of the exercise was to buy time, to enable them to sell off RFC as an attractive going concern. Had they been able to do that, at a decent price within a decent time-frame, I don't know that the value to creditors would have been reduced.

In hindsight, of course, the whole approach seems to have failed. I am in two minds as to whether that is D&P'S fault (it would have been nice to be a fly on the wall), or whether they were always farting against thunder.

They would either have had to promise the players that the arrears would be payable in full once the club had emerged from administration or add the arrears to the list of administration creditors. The first would reduce the amount an investor would be willing to pay and the second would dilute the claim of the other creditors. Either way the existing creditors lose out and the end result is that the club is still not a going concern - it's still making the losses that brought administration about in the first place.

Administrators can get away with a lot because the whole process is dependent on professional judgement, but simply deferring payment rather than reducing costs does nothing to improve the club's prospects and really is not far removed from what wee Craig did with the HMRC payments. Having said all that, I think this story originated in the Record and should be treated with the usual caution that applies to that particular paper.

[Just Alf]

Rumoursville from one of me weegie mates. the land that Murray Park sits on is on the market @ approx £10 mill, for housing.... since originally built a number of new housing developments have gone up around it negating any "remaining issues" re planning permission. Two builders already interested, Bett Homes and Stewart Milne.

Tried googling etc but can't find anything

[Spike Mandela]

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According to the BBC news, McCoist has had discussions with two of the new bidders, who will remain annonymous. Come on now, Sally, as a man who demands transparency, let your supporters know who they are.

Aunt Sally would whore himself to anyone at the moment as long as they said they were buying Rangers. Stuff due diligence. Remember him enthusing about his hour long call with Bill Miller which was after midnight thus proving his commitment to doing a deal with Rangers

The only transparent thing in this whole proces is the arrogance of him and those of his ilk. A wee bit of humility required now methinks.

[CropleyWasGod]

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Rumoursville from one of me weegie mates. the land that Murray Park sits on is on the market @ approx £10 mill, for housing.... since originally built a number of new housing developments have gone up around it negating any "remaining issues" re planning permission. Two builders already interested, Bett Homes and Stewart Milne.

Tried googling etc but can't find anything

If that's true, it kinda puts Wild Bill's £11.4m in perspective.

[Smidge]

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Rumoursville from one of me weegie mates. the land that Murray Park sits on is on the market @ approx £10 mill, for housing.... since originally built a number of new housing developments have gone up around it negating any "remaining issues" re planning permission. Two builders already interested, Bett Homes and Stewart Milne.

Tried googling etc but can't find anything

There is some talk on this thread a long time ago that Murray Park is unsuitable for housing due to its positioning on a flood plain. However, West of Scotland Rugby's ground - not a million miles from MP - is far more likely to get a planning consent. Therefore, some sort of deal for the WoS to move to MP and their place getting built on is a bit more unlikely.

[Fergus52]

Can't be bothered reading through the last few pages,

can someone please clarify for me what state of affairs rangers are most likely to end up in?

I know that without a UEFA license a newco couldn't play in the SPL for 3 years, but do the SPL have the power to change that? and is it likely that they will?

[Lungo--Drom]

It's starting to look like a fire sale is getting more and more likely

m.stv.tv/news/scotland/98884-rangers-administrators-could-sell-off-clubs-assets-to-keep-it-alive/

I reckon some flats, with retail and office space and maybe a gymnasium for the site at Edmiston Drive. My missus says there will be a queue a mile long for people offering to drive the bulldozer through the place before the new buildings get put up :D

[Just Alf]

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Can't be bothered reading through the last few pages,

can someone please clarify for me what state of affairs rangers are most likely to end up in?

I know that without a UEFA license a newco couldn't play in the SPL for 3 years, but do the SPL have the power to change that? and is it likely that they will?

There's quotes in the press that any Newco OR Oldco re-emerging via CVA will be treated as a "new member" by UEFA etc and the 3 year rule will stand, they've also said that the rule won't be changed "just because it's Rangers" and I think SPL/SFA can do hee haw about it.

[StevieC]

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There is some talk on this thread a long time ago that Murray Park is unsuitable for housing due to its positioning on a flood plain. However, West of Scotland Rugby's ground - not a million miles from MP - is far more likely to get a planning consent. Therefore, some sort of deal for the WoS to move to MP and their place getting built on is a bit more unlikely.

It might be "more likely" to get planning consent but it's a lot less desirable. At the moment Murray Park is the "right side" of the railway track (so to speak), at least 5 times the size, and available at a knock down price. The housing development that has been built right opposite MP (since MP opened) has houses that are going for almost £500k. WoS is sandwiched between retail and industrial land, whereas MP skirts nicely round woodland and a golf course.

If a builder could snap it up at a discounted price (assuming he's willing to take a hun backlash) he'd be daft not to at least consider it.

[HibeeMG]

Now, did I, or did I not say that the bids by the interested parties seemed low considering the real estate on offer with the club?

I believe I got shot down because 'those bits of land are only useful for football clubs'. It seems not to be the case.

I'm not one for telling you 'I told you so' but.....

[StevieC]

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Now, did I, or did I not say that the bids by the interested parties seemed low considering the real estate on offer with the club?

I believe I got shot down because 'those bits of land are only useful for football clubs'. It seems not to be the case.

I'm not one for telling you 'I told you so' but.....

It would hinge on planning permission though .. and there's guaranteed to be Rangers supporters on the applications board.

[jgl07]

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It might be "more likely" to get planning consent but it's a lot less desirable. At the moment Murray Park is the "right side" of the railway track (so to speak), at least 5 times the size, and available at a knock down price. The housing development that has been built right opposite MP (since MP opened) has houses that are going for almost £500k. WoS is sandwiched between retail and industrial land, whereas MP skirts nicely round woodland and a golf course.

If a builder could snap it up at a discounted price (assuming he's willing to take a hun backlash) he'd be daft not to at least consider it.

The City Council would never give planning permission.

It would have to be won on appeal. That seems unlikely if it is on a flood plain.

[Lungo--Drom]

More dribbling from Duff & Duffer:

m.skysports.com/article/football//7742162

David Whitehouse (and co.) are either closet huns or are in fear for their lives. It reminds me of when I was a bairn and you broke something like a cup or plate and kept putting off telling your ma what you'd done.

[Moulin Yarns]

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The City Council would never give planning permission.

It would have to be won on appeal. That seems unlikely if it is on a flood plain.

Every local authority is in the process of preparing their Local Plan which identifies land use zones. Depends what MP is zoned for. Also, flooding issues can be overcome with mitigation measures. In other words not insurmountable.

[HibeeMG]

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"If you don't invest heavily in the player squad, and you accept that you're going to compete competitively at simply domestic level over the next 12-24 months, it is quite easy to see a break-even model.
"But to achieve that break-even model, you have to be comfortable that the fans are going to turn up and renew season tickets and you're going to get that core revenue through the gate receipts.

Am I wrong in saying that the Ticketus deal will still stand unless there is a NewCo?

If I'm not wrong then any season ticket renewals will go straight to Ticketus as it seems more and more unlikely that a NewCo will happen. Therefore, why should a prospective buyer worry about fans renewing? He'll hardly see a penny of that money going to the club.

[jgl07]

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Every local authority is in the process of preparing their Local Plan which identifies land use zones. Depends what MP is zoned for. Also, flooding issues can be overcome with mitigation measures. In other words not insurmountable.

They can be dealt with by moving the problem elsewhere.

The folly of building on floodplanes even if riven defences are added and ground levels raised in a contributory factor the the increased problem of flooding.

[lapsedhibee]

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If a builder could snap it up at a discounted price (assuming he's willing to take a hun backlash) he'd be daft not to at least consider it.

Might not be just a builder backlash. Look forward to Sally demanding to know, for transparency, the identities of anyone who buys property there.

[StevieC]

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Am I wrong in saying that the Ticketus deal will still stand unless there is a NewCo?

If I'm not wrong then any season ticket renewals will go straight to Ticketus

I think most forecasts are probably now based on Ticketus being "bumped" for their cash (based on Scots Law).

Likely to go through the courts but I get the impression they could be left chasing CW rather than Rangers.

[StevieC]

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Might not be just a builder backlash. Look forward to Sally demanding to know, for transparency, the identities of anyone who buys property there.

[HibeeMG]

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Every local authority is in the process of preparing their Local Plan which identifies land use zones. Depends what MP is zoned for. Also, flooding issues can be overcome with mitigation measures. In other words not insurmountable.

Exactly.

Which brings me back to the point I made a few days ago.

If the administrators were doing their jobs properly and acting on behalf of the creditors, why wouldn't they try to maximise the amount of cash they could get from the property and land assets?

To just assume that the land can only be used for footballing purposes and that nobody other than a potential buyer of the club would want them seems negligent to me. If they put those assets (Ibrox and MP) up for public sale and let prospective buyers worry about flood plains and planning issues then they might find they bring in a hell of a lot more than the discounted £11.5m that Miller offered.

[lapsedhibee]

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Exactly.

Which brings me back to the point I made a few days ago.

If the administrators were doing their jobs properly and acting on behalf of the creditors, why wouldn't they try to maximise the amount of cash they could get from the property and land assets?

To just assume that the land can only be used for footballing purposes and that nobody other than a potential buyer of the club would want them seems negligent to me. If they put those assets (Ibrox and MP) up for public sale and let prospective buyers worry about flood plains and planning issues then they might find they bring in a hell of a lot more than the discounted £11.5m that Miller offered.

Have we ruled out the possibility that Duff and Duffer are crooked?

[jonty]

Douglas Fraser @BBCDouglsFraser
Ticketus close to lodging legal claim against Craig Whyte, calling in £27m in personal guarantees for last year's #Rangers financing deal

[HibeeMG]

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Douglas Fraser @BBCDouglsFraser
Ticketus close to lodging legal claim against Craig Whyte, calling in £27m in personal guarantees for last year's #Rangers financing deal

Aye, good luck with that!

I can just see old bulgy-eyes booking his one-way flight to Brazil as we speak!

[Killiehibbie]

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Have we ruled out the possibility that Duff and Duffer are crooked?

Certainly not ruling that out given that Whyte wanted them to get the job.

[Leithenhibby]

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Douglas Fraser @BBCDouglsFraser
Ticketus close to lodging legal claim against Craig Whyte, calling in £27m in personal guarantees for last year's #Rangers financing deal

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Certainly not ruling that out given that Whyte wanted them to get the job.

More turns, twists & round-a-bouts than "spaghetti junction". They must be coming to the end of the road soon... Shirley ..


http://www.flickr.com/photos/1981765...ream/lightbox/

[down-the-slope]

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Aye, good luck with that!

I can just see old bulgy-eyes booking his one-way flight to Brazil as we speak!

But what if was secured against wavetower...which in turn had a floating charge over Rangers assets ........

[konte's one-two]

2 things. firstly murray park has a clause in it that it can only be redeveloped for leisure purposes. the clause is on place for a signofocanyammount of time.