Generic Sevco / Rangers meltdown thread

[crewetollhibee]

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The bit I don't get there is - where have these people been since Valentine's Day? A wise man said ealier on this very thread 'If it seems too good to be true it usually is'. This story falls into that category IMO.

I agree Cav, but Valentine's Day ? Where were they for all those years that SDM had the club up for sale ?

[greenginger]

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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

Thats good news I think It must support Whyte's claim for having security over Ibrox and Murray Park. There can can be no deal done, OldCo, NewCo, a bit of BothCo until this legal mess is sorted out and it could take YEARS !

[konte's one-two]

Also its been known that d&p are anything but decent. they (in a previous guise) have had connections with CW previously. in paricular a high street clothing chain went into admin. d&p came in and botj parties profited greatly. should check out @celticresearch on twitter there a little biased but have a lot of ibfo that doesnt make the press

[Dashing Bob S]

The plot seems to have thickened into an almighty mess of orange goo. This could drag on in courts for years as claims and counter-claims and appeals are issued. The administrators don't really seem to have known what they are doing. They evidently decided that the best strategy was to talk up a quick deal, but it seems that everyone who has seen the extent of the debt and outstanding potential constraints has ran a mile. They appear to have no plan B.

It seems uncertain what division, if any, Rangers will play in next season, and what sort of a club they will be.

[shagpile]

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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

**** on by a sheep? How would the hun hordes feel about that?

[lapsedhibee]

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It seems uncertain what division, if any, Rangers will play in next season, and what sort of a club they will be.

Disagree. If they exist at all, it's all too easy to predict what sort of a club they'll be.

As for what division, all leagues should be suspended until the outcome of all the Huns' court cases etc is known. It would be completely unfair to carry on with SPL or SFL fixtures until they know where they are and what they want to do.

[TornadoHibby]

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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.

How do you know that they weren't to parties likely to be interested in such properties other than the "going concern" bidders?

Is the £11.5 million not net of secured loans over the properties?

What are the viable alternative uses for the properties, what consents would be required and what would the timescales involved in securing such necessary consents be, what costs and timescales might be involved in carrying out any re-development necessary to achieve the alternative viable uses once the related consents had been obtained and, what would the values of these properties be for acquisition at this time assuming that the secured lender consented to the sale upon receipt of the loan amount (or full sale proceeds if a shortfall arises)?

Questions, questions...............!

[HibeeMG]

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How do you know that they weren't to parties likely to be interested in such properties other than the "going concern" bidders?

I've not seen a picture of a dirty great big 'FOR SALE' sign outside Ibrox or Murray Park. Have you?

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Is the £11.5 million not net of secured loans over the properties?

Not got a clue. Good question though.

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What are the viable alternative uses for the properties, what consents would be required and what would the timescales involved in securing such necessary consents be, what costs and timescales might be involved in carrying out any re-development necessary to achieve the alternative viable uses once the related consents had been obtained and, what would the values of these properties be for acquisition at this time assuming that the secured lender consented to the sale upon receipt of the loan amount (or full sale proceeds if a shortfall arises)?

Got me on those questions also. I'm just glad I'm not looking to buy the land! I'm sure that Asda, Tesco, Barratt Homes etc are great at looking into things like these though.

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Questions, questions...............!

And hopefully these questions and more will keep the whole thing tied up until the lights go off.

[Paisley Hibby]

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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.

And main stand at Ibrox is a Listed Building so that limits what you could redevelop the stadium for. I think Fulham had the same problem with stands that are Listed Buildings when they tried to redevelop Craven Cottage?

[Moulin Yarns]

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And main stand at Ibrox is a Listed Building so that limits what you could redevelop the stadium for. I think Fulham had the same problem with stands that are Listed Buildings when they tried to redevelop Craven Cottage?

But Arsenal didn't have a problem at Highbury, as I said earlier, not insurmountable.

[Haymaker]

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And main stand at Ibrox is a Listed Building so that limits what you could redevelop the stadium for. I think Fulham had the same problem with stands that are Listed Buildings when they tried to redevelop Craven Cottage?

Aye, they were going to have to build round it. It got turned down because it was "too tall" for local residents IIRC.

[s.a.m]

Lots of people tweeting that Ticketus are "days away" from suing Craig Whyte for 27 million.


Edit: here's the story
http://www.bbc.co.uk/news/uk-scotlan...-west-18006383

[jgl07]

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But Arsenal didn't have a problem at Highbury, as I said earlier, not insurmountable.

No insurmountable but Govan is hardly the same as Islington in terms of house prices.

[shagpile]

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Lots of people tweeting that Ticketus are "days away" from suing Craig Whyte for 27 million.

Expect a decision on that around....














2015.

[jgl07]

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Thats good news I think It must support Whyte's claim for having security over Ibrox and Murray Park. There can can be no deal done, OldCo, NewCo, a bit of BothCo until this legal mess is sorted out and it could take YEARS !

Well a Newco could be formed and rent Hampden Park in the meantime. Celtic did that for a year.

Come to think of it Queens Park could merge with Rangers to form a new club called: Queens Park Rangers!

[Paisley Hibby]

Guy from Duff and Duffer on Radio Scotland has just referred to 3 "indicative offers
or proposals" so looks to me that they DON'T have real bids at the moment. But I'm no expert.

[ancienthibby]

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Well a Newco could be formed and rent Hampden Park in the meantime. Celtic did that for a year.

Come to think of it Queens Park could merge with Rangers to form a new club called: Queens Park Rangers!

NOT your best moment!

[joe breezy]

Everything's okay there are 3 bidders and all will be fine...

[Just Alf]

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Everything's okay there are 3 bidders and all will be fine...

Fell off ma seat!

[Just Alf]

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And main stand at Ibrox is a Listed Building so that limits what you could redevelop the stadium for. I think Fulham had the same problem with stands that are Listed Buildings when they tried to redevelop Craven Cottage?

Got this earlier from another forum

Reasons for demolishing a Listed Building:

a.the building is not of special interest; or
b.the building is incapable of repair; or
c.the demolition of the building is essential to delivering significant
benefits to economic growth or the wider community; or
d.the repair of the building is not economically viable and that it has been marketed at a price reflecting its location and condition to potential restoring purchasers for a reasonable period.

I'm SURE they could get something out of that so Ibrox can be put out its misery!

And on Murray Park

the West of Scotland ground is currently subject to a Waitrose planning application. so basically W of S can move along to Murray Park

[John_the_angus_hibby]

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If the reports are true I think I agree with Hibs Class. The administrators have been running the club at an accounting loss but have disguised the fact by deferring cash outgoings and increasing creditors, thereby reducing the value of existing creditors claims. In fact they've barely reduced expenses (as opposed to cash outflow) at all. To my mind none of that complies with their duties as administrators.

Then more fool the companies prepared to give them credit.

[Caversham Green]

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Then more fool the companies prepared to give them credit.

It's not companies though, it's the players. They've either accepted a reduction in their wages or actually been on full wages all the time but agreed not to take the cash until June - that makes them creditors at the moment.

[grunt]

Chick Young on Radio Scotland tonight...
What a twerp. In my opinion.

Possibly they might put the boards up at Ibrox.
The death of the Ibrox club would toll the bell for the Scottish game, in my opinion.

[Ryan91]

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Chick Young on Radio Scotland tonight...
What a twerp. In my opinion.

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Possibly they might put the boards up at Ibrox.
The death of the Ibrox club would toll the bell for the Scottish game, in my opinion

Erse.

I wonder if he'd be saying the same if it were his 'beloved' Buddies in danger of going down the pan?

[Minder]

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Everything's okay there are 3 bidders and all will be fine...

[Minder]

What odds the death blow comes on the 12th July?

[Just Alf]

Read this from Chick, the man's 100% right!

"The death of the Ibrox club would toll the bell for the Scottish game. In fact, it may already be too late. It strikes me that too many have little concept of how serious the situation really is.

Those who want Rangers wiped from the face of the planet for their misdemeanours, who want their chairmen to don the black cap when it comes to judgement day, are entitled to their opinion, but they should be prepared to live with the consequences.

Consider this: on a match day when Rangers are at home and Celtic away, far in excess of half the paying customers in the SPL are at Ibrox.

Remind me on what basis you can dispense with half your custom and still thrive and you, my friend, have found the secret of business heaven."

See!.... 100% right....

Ah.... just spotted a flaw....

do the other teams get money from Ibrox for ALL those fans he's goin' on aboot?.... shared oot is it?

Either RFC have been holding back the dosh or as earlier posts may have mentioned.... he's an erse!

[GloryGlory]

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Well a Newco could be formed and rent Hampden Park in the meantime. Celtic did that for a year.

Come to think of it Queens Park could merge with Rangers to form a new club called: Queens Park Rangers!

Or maybe QPH as the QPR is already taken.

[GloryGlory]

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Read this from Chick, the man's 100% right!

"The death of the Ibrox club would toll the bell for the Scottish game. In fact, it may already be too late. It strikes me that too many have little concept of how serious the situation really is.

Those who want Rangers wiped from the face of the planet for their misdemeanours, who want their chairmen to don the black cap when it comes to judgement day, are entitled to their opinion, but they should be prepared to live with the consequences.

Consider this: on a match day when Rangers are at home and Celtic away, far in excess of half the paying customers in the SPL are at Ibrox. Remind me on what basis you can dispense with half your custom and still thrive and you, my friend, have found the secret of business heaven."

See!.... 100% right....

Ah.... just spotted a flaw....

do the other teams get money from Ibrox for ALL those fans he's goin' on aboot?.... shared oot is it?

Either RFC have been holding back the dosh or as earlier posts may have mentioned.... he's an erse!

This also assumes that ALL potential customers are at a game when Rangers are playing. It doesn't take into account non-Rangers sympathetic potential customers who could/would attend SPL games if their teams were more competitive as a result of Rangers demise (or happier bringing their children to games not polluted by sectarian bile). I would guess that there are teams like Hibs, Hearts, Aberdeen, etc who could well attract larger crowds in a better league.

[Brando7]

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Or maybe QPH as the QPR is already taken.

or strike a deal to HMRC to take over club as payment n call them HMRC UTD