Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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Why do you think that?

FWIW I think you are right, if only because SFA won't want to be seen to be hurting them in any way.

Irrelevance is probably the wrong word. I think that it's a sideshow compared to the real issue of getting cash.

[Eyrie]

If there is no new share issue, could Ashley refuse a new loan to force them into administration? He would be one of their largest creditors and therefore in a position to pick up the club for very little, whilst using the admin process to dump overpaid and underperforming players and ex-managers.

Might make him unpopular with the unwashed hordes, but I don't think that would bother him.

[Weststandwanab]

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If there is no new share issue, could Ashley refuse a new loan to force them into administration? He would be one of their largest creditors and therefore in a position to pick up the club for very little, whilst using the admin process to dump overpaid and underperforming players and ex-managers.

Might make him unpopular with the unwashed hordes, but I don't think that would bother him.

That is exactly what will happen - sooner or later - in my opinion.

[CropleyWasGod]

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If there is no new share issue, could Ashley refuse a new loan to force them into administration? He would be one of their largest creditors and therefore in a position to pick up the club for very little, whilst using the admin process to dump overpaid and underperforming players and ex-managers.

Might make him unpopular with the unwashed hordes, but I don't think that would bother him.

The size of his loan isn't important. The fact that he has security, though, is.

[Callum_62]

David Somers - what a guy:

His statement read: "In these past 12 months, I have been surprised at a number of things. Firstly, the highly negative aspect of most of the media reporting regarding Rangers.

"Secondly, because it is clear to me that a stronger Rangers is good for Scottish football, I have been very disappointed to realise that outside of Ibrox, there sadly still exists a great deal of anti-Rangers feeling, perhaps (although I hope not) even in the football establishment."

[lord bunberry]

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If there is no new share issue, could Ashley refuse a new loan to force them into administration? He would be one of their largest creditors and therefore in a position to pick up the club for very little, whilst using the admin process to dump overpaid and underperforming players and ex-managers.

Might make him unpopular with the unwashed hordes, but I don't think that would bother him.

But he can't own more than 10% I thought?

[CropleyWasGod]

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But he can't own more than 10% I thought?

He can if he dumps Newcastle, though.

Or, he could buy the assets out of administration, rent them to NewSevco, and make a decent income for very little outlay and without the hassle and need to be involved in another underachieving fitba team.

[bighairyfaeleith]

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But he can't own more than 10% I thought?

He can but some form of punishments will likely follow, however technically no one can stop him buying more shares

[Weststandwanab]

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But he can't own more than 10% I thought?

No but his dog - who is non resident for tax purposes - and lives in Luxemburg could

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He can if he dumps Newcastle, though.

Or, he could buy the assets out of administration, rent them to NewSevco, and make a decent income for very little outlay and without the hassle and need to be involved in another underachieving fitba team.

Oh yes that would work too

[Eyrie]

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The size of his loan isn't important. The fact that he has security, though, is.

Thanks - thought creditors got to vote according to the debt they were owed, but it seems having title to the assets means Ashley would have the club by the balls.

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But he can't own more than 10% I thought?

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He can but some form of punishments will likely follow, however technically no one can stop him buying more shares

If Ashley makes the best offer to the administrators then it would be very difficult for the SFA to knock him back.

[Kaff]

We can discuss Celtic wanting to have Rangers back in the top flight but imo they would never stand back and let the SPFL allow them to have Ashley, with his funding ability, bend the rules with dual ownership.
Ashley will want Rangers in top league as merchandise sales will be much greater but as it stands he needs someone else to pump money in and i would imagine most serious players now are waiting for the next insolvency event (possibly Ashley too) as they need to shed some player costs and perhaps they are thinking the possibilty of another year in championship is not a deal breaker?
If Ashley gets some assets from a default then the insolvency might suit him with someone like King coming in on his white horse being the new front man and letting him have merchandise rights plus property rental without breaking the ownership rules.

[greenginger]

The press chearleading for the SFA to allow Ashley to take over Sevco.

http://www.telegraph.co.uk/sport/foo...urns-ugly.html

I would say OK with the priviso that the club could not operate in our top division. A bit like Barca and Real second strings in La Liga 2.

[Sir David Gray]

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David Somers - what a guy:

His statement read: "In these past 12 months, I have been surprised at a number of things. Firstly, the highly negative aspect of most of the media reporting regarding Rangers.

"Secondly, because it is clear to me that a stronger Rangers is good for Scottish football, I have been very disappointed to realise that outside of Ibrox, there sadly still exists a great deal of anti-Rangers feeling, perhaps (although I hope not) even in the football establishment."

It's taken him 12 months to come to this conclusion?

[jacomo]

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He can if he dumps Newcastle, though.

Or, he could buy the assets out of administration, rent them to NewSevco, and make a decent income for very little outlay and without the hassle and need to be involved in another underachieving fitba team.

And paint himself as the reluctant saviour, only stepping in because everyone else had made such a mess of it.

[VivaHiberña]

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It's taken him 12 months to come to this conclusion?

At this rate I wouldn't bet on him figuring out why.

[AndyM_1875]

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The press chearleading for the SFA to allow Ashley to take over Sevco.

http://www.telegraph.co.uk/sport/foo...urns-ugly.html

I would say OK with the priviso that the club could not operate in our top division. A bit like Barca and Real second strings in La Liga 2.

As Ashley has already stated he plans to not be the majority shareholder in Newcastle by mid 2016 so a process in in place anyway. Rangers being stuck in the Championship for another season is no big deal for Ashley as he is restructuring the club completely. He is cost cutting already and clearing out the old guard. You can expect to see the 7 grand a week brigade have their contracts ended or paid up and the age of the squad to come down. If Hearts and Hibs go up this year from the Championship it gives Rangers a clear run at the Championship in 2015/16.

Lets look at it rationally - For the SFA the lure of a healthy Rangers as opposed to the staggering sick excuse of a club they are just now is huge. Llambias will sell them the vision of a financially secure and healthy Rangers. Remember as well that SFA Committee includes Stewart Regan, Peter Lawell and Rod Petrie. Regan is leaving, Petrie himself has presided over his own annus horriblus and Lawell has an annual £10m funding gap to fill - he needs Rangers. These men don't care about being unpopular and know they are in an impossible position, they will be criticized whatever they do. They preside over clubs in a league with no sponsor and a pitiful TV deal.

Expect Ashley to get his request to take his stake up to 29.9% passed with conditions.

[Hibernia&Alba]

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David Somers - what a guy:

His statement read: "In these past 12 months, I have been surprised at a number of things. Firstly, the highly negative aspect of most of the media reporting regarding Rangers.

"Secondly, because it is clear to me that a stronger Rangers is good for Scottish football, I have been very disappointed to realise that outside of Ibrox, there sadly still exists a great deal of anti-Rangers feeling, perhaps (although I hope not) even in the football establishment."

The self pity is embarrassing. Rangers had the SFA and the media in their pockets for decades, now they claim to be the downtrodden underdog. Perhaps the reason they are so disliked is because of the behaviour of the club and its fans. Just saying, Davie.

[Bostonhibby]

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The self pity is embarrassing. Rangers had the SFA and the media in their pockets for decades, now they claim to be the downtrodden underdog. Perhaps the reason they are so disliked is because of the behaviour of the club and its fans. Just saying, Davie.

Agree,and then he needs to think about the sectarian hatred that the throwback followers of the now defunct Glasgow rangers still spout as it is definitely having an effect on how civilized society views the newest team in Scotland. It's a pity that sort of culture wasn't allowed to die when Glasgow rangers ceased to exist. Maybe Somers could do something about that?

Then there would be a chance of his utterances and the next version of the club being better received?

[ballengeich]

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He can if he dumps Newcastle, though.

Or, he could buy the assets out of administration, rent them to NewSevco, and make a decent income for very little outlay and without the hassle and need to be involved in another underachieving fitba team.

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We can discuss Celtic wanting to have Rangers back in the top flight but imo they would never stand back and let the SPFL allow them to have Ashley, with his funding ability, bend the rules with dual ownership.
Ashley will want Rangers in top league as merchandise sales will be much greater but as it stands he needs someone else to pump money in and i would imagine most serious players now are waiting for the next insolvency event (possibly Ashley too) as they need to shed some player costs and perhaps they are thinking the possibilty of another year in championship is not a deal breaker?
If Ashley gets some assets from a default then the insolvency might suit him with someone like King coming in on his white horse being the new front man and letting him have merchandise rights plus property rental without breaking the ownership rules.

Here's another possibility. The football club owns Ibrox and the training complex, but its accounts show a large debt to the plc. Could the plc write off the debt in return for the property which the club would then rent? The next step would be to put the club up for sale, with a clear statement that it will close if there are no purchasers. Rangers men step in to save the institution.

Everyone wins. Ashley keeps his retail deals, onerous contracts continue, other shareholders start seeing a return from what's now a profitable property company, and crowds flock back to a football club which is clear of any problems related to dual ownership.

[CropleyWasGod]

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Here's another possibility. The football club owns Ibrox and the training complex, but its accounts show a large debt to the plc. Could the plc write off the debt in return for the property which the club would then rent? The next step would be to put the club up for sale, with a clear statement that it will close if there are no purchasers. Rangers men step in to save the institution.

Everyone wins. Ashley keeps his retail deals, onerous contracts continue, other shareholders start seeing a return from what's now a profitable property company, and crowds flock back to a football club which is clear of any problems related to dual ownership.

I've said in the past that a "sale and leaseback" might be a way out, although I hadn't thought about the holding company doing it. You could be on to something.

What has intrigued me even more now is that, according to one report I read (DR, I think), Ashley voted against the "pre-emptive rights" resolution yesterday. I'm not sure why he would have done that, other than to give him first dibs on the shares and prevent the likes of King getting involved. However, since it was the Board that proposed the resolution in the first place......

It's like Boardwalk Empire.

[jacomo]

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As Ashley has already stated he plans to not be the majority shareholder in Newcastle by mid 2016 so a process in in place anyway.

Ashley needs to find a buyer for Newcastle first, though. So far he hasn't done so, although he may well be lining someone up.

[Just Alf]

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Ashley needs to find a buyer for Newcastle first, though. So far he hasn't done so, although he may well be lining someone up.

ALL he needs is someone willing to pay £X millions for the club and be willing to take on the £128 million debt

[StevieC]

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He can if he dumps Newcastle, though.

Or, he could buy the assets out of administration, rent them to NewSevco, and make a decent income for very little outlay and without the hassle and need to be involved in another underachieving fitba team.

Surely we need to have "achieved" something to be classed as "underachieving" your insults are like water off a ducks back

I get the impression that the Rangers downfall is imminent, whereas any sale of Newcastle is likely to be very protracted. Ashley may get pelters from the fans, but he's at almost every game so he must be enjoying life as a Premiership chairman. Probably opens a lot more doors in the hospitality and boardrooms on match days in the Premiership than he's ever likely to get north of the border.

[Cropley10]

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As Ashley has already stated he plans to not be the majority shareholder in Newcastle by mid 2016 so a process in in place anyway. Rangers being stuck in the Championship for another season is no big deal for Ashley as he is restructuring the club completely. He is cost cutting already and clearing out the old guard. You can expect to see the 7 grand a week brigade have their contracts ended or paid up and the age of the squad to come down. If Hearts and Hibs go up this year from the Championship it gives Rangers a clear run at the Championship in 2015/16.

Lets look at it rationally - For the SFA the lure of a healthy Rangers as opposed to the staggering sick excuse of a club they are just now is huge. Llambias will sell them the vision of a financially secure and healthy Rangers. Remember as well that SFA Committee includes Stewart Regan, Peter Lawell and Rod Petrie. Regan is leaving, Petrie himself has presided over his own annus horriblus and Lawell has an annual £10m funding gap to fill - he needs Rangers. These men don't care about being unpopular and know they are in an impossible position, they will be criticized whatever they do. They preside over clubs in a league with no sponsor and a pitiful TV deal.

Expect Ashley to get his request to take his stake up to 29.9% passed with conditions.

And what a position Mr Petrie finds himself in. Potentially voting for an easing or bending of the rules in order to allow Sevco safe passage to back where they belong (etc. etc)...

Our Chairman has an opportunity to acknowledge that The Rangers spend money they don't have - just like the previous Club did, and Hearts did as well. If they can't stand on their own two feet - tough...

Tough choice Me Petrie: let's see if your actions favour The Rangers or Hibs...

[StevieC]

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As Ashley has already stated he plans to not be the majority shareholder in Newcastle by mid 2016 so a process is in place anyway.

I'm not so sure that's what he actually said, unless it's a new statement.
He has said that he would be in charge at Newcastle till at least the end of next season, not sure that relates to him leaving at that point, just that if there was a buyer then it would take that long for it to be concluded. I've not heard of any buyer making themselves known, although there are the usual rumours abour Qatar and various middle eastern/chinese/korean/american consortiums that fly about from time to time.

[AndyM_1875]

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And what a position Mr Petrie finds himself in. Potentially voting for an easing or bending of the rules in order to allow Sevco safe passage to back where they belong (etc. etc)...

Our Chairman has an opportunity to acknowledge that The Rangers spend money they don't have - just like the previous Club did, and Hearts did as well. If they can't stand on their own two feet - tough...

Tough choice Me Petrie: let's see if your actions favour The Rangers or Hibs...

Rod will vote on what he's presented with by Llambias. If its a constructive & positive presentation/discussion then he may vote in favour of allowing dispensation.
Whatever we think of his recent tenure as Hibs CEO he is totally professional and will make a dispassionate decision that won't be influenced by old grievances but what he is presented with on the day.

Regan will undoubtedly back Rangers and Lawell wants Rangers in the top flight & brand Old Firm restarted. He's in charge of a club that has downsized for 3 years and still has an annual £10m hole in its accounts which it fills via player sales with VVD the next out the door. The rest of the Celtic pool are either pushing 30, damaged goods or so bang average you'd never get any club to pay serious cash for any of them.

[StevieC]

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The press chearleading for the SFA to allow Ashley to take over Sevco.

http://www.telegraph.co.uk/sport/foo...urns-ugly.html

I would say OK with the priviso that the club could not operate in our top division. A bit like Barca and Real second strings in La Liga 2.

What's maybe not been talked about much is the ongoing situation of Livingston/East Fife/Dumbarton regarding joint ownership. These 3 clubs are currently going through the disciplinary process and if the SFA roll over for Rangers (and Ashley) then there could be some serious back-tracking needed down Hampden way

[Springbank]

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There was some doubt about King's offer, though one of his partners has just been on Radio Scotland repeating the claim that there were people with money who would have made their identity public once the offer had been accepted.

I don't think there's any doubt about Kennedy's ability to put in a few million.

I had the occasion to talk to Brian Kennedy recently through work related matters

A Hibs daft family, a gent, in my brief experience of him, and most certainly not the archetypal rangers man

He released a press statement after his loan offer was rejected outlining in clear detail the 9 terms of loan

It was a no lose situation for him as a financier, his statement made that crystal clear, and he wasn't unhappy to walk away

[Cropley10]

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Rod will vote on what he's presented with by Llambias. If its a constructive & positive presentation/discussion then he may vote in favour of allowing dispensation.
Whatever we think of his recent tenure as Hibs CEO he is totally professional and will make a dispassionate decision that won't be influenced by old grievances but what he is presented with on the day.

Regan will undoubtedly back Rangers and Lawell wants Rangers in the top flight & brand Old Firm restarted. He's in charge of a club that has downsized for 3 years and still has an annual £10m hole in its accounts which it fills via player sales with VVD the next out the door. The rest of the Celtic pool are either pushing 30, damaged goods or so bang average you'd never get any club to pay serious cash for any of them.

Indeed.

We are fortunate to have a non-Exec Chairman prepared to vote for the good of Scottish Football and to the potential detriment of his own Club.

Where would be without such people?


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[Peevemor]

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Indeed.

We are fortunate to have a non-Exec Chairman prepared to vote for the good of Scottish Football and to the potential detriment of his own Club.

Where would be without such people?


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Yeah - just make wee digs while ignoring the facts ...

http://www.bbc.com/sport/0/football/18065520

http://www.dailymail.co.uk/sport/foo...e-Rangers.html