Generic Sevco / Rangers meltdown thread

[Peevemor]

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I presume Park is the same Park that has the bus company Park's of Hamilton and has/had a whole string of car dealerships.

If my memory serves me correctly was he not involved in the running of Hamilton Accies at one point

The family were definitely involved at Hearts at one point.

[Ronniekirk]

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donkey-caster rewriting history? It's the same club.......
http://www.dailyrecord.co.uk/sport/f...before-4904432

Quote Its the Member Club that is the Entity that participates in our league . well they certainly are one big Messy Member that's for sure .wonder why Doncaster felt the need to clarify this now ,obviously wanting to start paving the way for a smooth Transition back into the big time .

[Just Alf]

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Quote Its the Member Club that is the Entity that participates in our league . well they certainly are one big Messy Member that's for sure .wonder why Doncaster felt the need to clarify this now ,obviously wanting to start paving the way for a smooth Transition back into the big time .

Also nicely puts to bed the "15 or 25" points question for the next insolvency event

[CropleyWasGod]

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So how are they going to pay Ashley back?

He still has security over Ibrox, if the reports are correct. In that sense, his money is safe.

[Keith_M]

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http://www.londonstockexchange.com/e.../12201348.html

Contrary to earlier reports.

From your good self...

[Jack]

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http://www.londonstockexchange.com/e.../12201348.html

Contrary to earlier reports.

I wonder if Ashley is getting dingied!

Is that possible?

[CropleyWasGod]

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From your good self...

Which were nicked from somewhere else. That will teach me to wait for Stock Exchange comment on every Rangers story.

[CropleyWasGod]

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I wonder if Ashley is getting dingied!

Is that possible?

It's possible that the information about him having security over Macleod was crap.
Alternatively, he may be waiting to cash in the security he reportedly has over Ibrox.

[Ronniekirk]

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So how are they going to pay Ashley back?

Sadly they will find a way Billy Its a Sordid state of Affairs but when they get to the point of real crisis there is always some other loan appears from some other person desperate to get a slice of the action further down the line .
I was friendly with George Letham in my younger years when he lived on a wee council housing scheme in Cupar Fife He was decent guy then ,and a big Rangers Fan.Had no indication then he was going to go on and be a Millionare ,but through contacts like his they will find a way through this The three Bears haven't invested at this point without giving it due consideration so they will be working on a plan Still some twists and turns but the fact they are selling players so early in Transfer Window indicates they now know they can't go on the way they were .

[Keith_M]

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Which were nicked from somewhere else. That will teach me to wait for Stock Exchange comment on every Rangers story.

[Ozyhibby]

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Sadly they will find a way Billy Its a Sordid state of Affairs but when they get to the point of real crisis there is always some other loan appears from some other person desperate to get a slice of the action further down the line .
I was friendly with George Letham in my younger years when he lived on a wee council housing scheme in Cupar Fife He was decent guy then ,and a big Rangers Fan.Had no indication then he was going to go on and be a Millionare ,but through contacts like his they will find a way through this The three Bears haven't invested at this point without giving it due consideration so they will be working on a plan Still some twists and turns but the fact they are selling players so early in Transfer Window indicates they now know they can't go on the way they were .

Everybody keeps saying these guys are top businessmen, they will have a plan. They are smart guys etc.
can anyone explain to me why, if they are so smart, they paid around £2.4m for 16% of new Rangers when they could have bought the whole lot for £5.5m from Duff and Phelps?

[CropleyWasGod]

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Everybody keeps saying these guys are top businessmen, they will have a plan. They are smart guys etc.
can anyone explain to me why, if they are so smart, they paid around £2.4m for 16% of new Rangers when they could have bought the whole lot for £5.5m from Duff and Phelps?

They couldn't have, though.

That deal was exclusive to Charles Green.

[Ronniekirk]

Away from the Financial side of things I see they have Dumbarton h. Alloa A Hearts. h and Celtic in Cup then us H. So with same squad and Manager they will struggle to win some of these imo based on how poor they were against us

[Col2]

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Away from the Financial side of things I see they have Dumbarton h. Alloa A Hearts. h and Celtic in Cup then us H. So with same squad and Manager they will struggle to win some of these imo based on how poor they were against us

Yes its a tough run especially given the state they are in. Will be interesting to see how many of the orcs turn up tomorrow..

For us? We have a reasonable set of fixtures but without Dom, Farid and Gray so could be tough month.

[Ronniekirk]

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Yes its a tough run especially given the state they are in. Will be interesting to see how many of the orcs turn up tomorrow..

For us? We have a reasonable set of fixtures but without Dom, Farid and Gray so could be tough month.

Thier attendance tomorrow will be interesting as they are using the new investment from the three Bears and Anniversary of Ibrox Disaster to try and drum up sales and saying this is Them on the upturn .So will see how many are buying into this especially with sale of McLeod
Agree without Dom and Gray it makes it harder for us so is a test of squad which up till now has been found wanting when a few key players are missing so we need to do some business in transfer market after hearts game

[CropleyWasGod]

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Thier attendance tomorrow will be interesting as they are using the new investment from the three Bears and Anniversary of Ibrox Disaster to try and drum up sales and saying this is Them on the upturn .So will see how many are buying into this especially with sale of McLeod
Agree without Dom and Gray it makes it harder for us so is a test of squad which up till now has been found wanting when a few key players are missing so we need to do some business in transfer market after hearts game

It's not new investment, though. The 3 Bears have bought existing shares from Laxey. None of that goes to the club.

[erin go bragh]

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Yes its a tough run especially given the state they are in. Will be interesting to see how many of the orcs turn up tomorrow..

For us? We have a reasonable set of fixtures but without Dom, Farid and Gray so could be tough month.

Id say we will have signed a striker and cover for Gray before the Falkirk game . Farid might even be back for the later games in Jan .
Rangers are deed , The Rangers might be joining them

GGTTH

[Ronniekirk]

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It's not new investment, though. The 3 Bears have bought existing shares from Laxey. None of that goes to the club.

Cheers ,so does the fact Ashley has agreed the money from sale of McLeod can now be used by club indicate some of thT could be used in Transfer Market to pay another players wages ?
If not are they likely to be able to do anything else in January to raise new money to strengthen squad or bring in a new manager ?

[CropleyWasGod]

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Cheers ,so does the fact Ashley has agreed the money from sale of McLeod can now be used by club indicate some of thT could be used in Transfer Market to pay another players wages ?
If not are they likely to be able to do anything else in January to raise new money to strengthen squad or bring in a new manager ?

The statement said working capital. To me, that's ongoing expenses. It's possible that it has been worded that way to damp down any expectations of it being used for new players.

Other than the share issue , which might take a while, I can't see any way for them to take on new players or management.

[Ronniekirk]

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The statement said working capital. To me, that's ongoing expenses. It's possible that it has been worded that way to damp down any expectations of it being used for new players.

Other than the share issue , which might take a while, I can't see any way for them to take on new players or management.

Cheers CWG that's made my day

[tamig]

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The statement said working capital. To me, that's ongoing expenses. It's possible that it has been worded that way to damp down any expectations of it being used for new players.

Other than the share issue , which might take a while, I can't see any way for them to take on new players or management.

I was going to ask if "working capital" could be utilised to cover loan repayments etc - which would mean it could work it's way to Ashley?

[CropleyWasGod]

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I was going to ask if "working capital" could be utilised to cover loan repayments etc - which would mean it could work it's way to Ashley?

The initial reports said that the money was going to MA. I think the SE statement is designed to trash that.

To me, working capital doesn't include loan repayments unless they are part of a scheduled arrangement. I don't think MAs loan is.

[Keith_M]

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The statement said working capital. To me, that's ongoing expenses. It's possible that it has been worded that way to damp down any expectations of it being used for new players.

Other than the share issue , which might take a while, I can't see any way for them to take on new players or management.

For example, January's wage bill.

At least two newspapers had already printed that they didn't have the money to pay it, but that was before McLeod was sold.

[greenginger]

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For example, January's wage bill.

At least two newspapers had already printed that they didn't have the money to pay it, but that was before McLeod was sold.

I wonder if they settle up with HMRC for Vat and Tax deductions on monthly or quarterly basis.

[CropleyWasGod]

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I wonder if they settle up with HMRC for Vat and Tax deductions on monthly or quarterly basis.

PAYE will definitely be monthly.

As far as VAT is concerned, where a company has "previous" with HMRC, they often insist on monthly Returns. I know this isn't the same company, but I have no doubt that HMRC will be keeping a close eye on things.

[CallumLaidlaw]

@AndyNewportPA: Dave King has acquired a 14.6 per cent stake in Rangers, the club has announced in a statement to the Stock Exchange.

[Ronniekirk]

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@AndyNewportPA: Dave King has acquired a 14.6 per cent stake in Rangers, the club has announced in a statement to the Stock Exchange.

Thought there were question marks about whether he was viewed as fit and proper etc Seems to be a lot of wheeling and dealing all of a sudden Are they going to pull a rabbit out the hat and have new funding yo buy players after all ?

[CropleyWasGod]

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Thought there were question marks about whether he was viewed as fit and proper etc Seems to be a lot of wheeling and dealing all of a sudden Are they going to pull a rabbit out the hat and have new funding yo buy players after all ?

Think the "fit and proper" only applies to directorships and direct involvement. At the moment, he's only a shareholder. He has, reportedly, also got new problems in SA which might hinder any major involvement.

However, this is sounding like the initial shots in a war between King Dave and the 3 Bears.

As for funding, they will have to go some if they want to get some in before the end of January.

[Billy Whizz]

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Think the "fit and proper" only applies to directorships and direct involvement. At the moment, he's only a shareholder. He has, reportedly, also got new problems in SA which might hinder any major involvement.

However, this is sounding like the initial shots in a war between King Dave and the 3 Bears.

As for funding, they will have to go some if they want to get some in before the end of January.

Do you not think King Dave and the 3 Bears will work together, or is their history between them?

[CropleyWasGod]

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Do you not think King Dave and the 3 Bears will work together, or is their history between them?

This is where my eyes glaze over; the politics baffle me.

IIRC, one of the Bears was a Blue Knight. Weren't they anti-King?

They might work together against the common enemy, Mashley and the Wet Fish. But then, it's the nature of this whole thing that they might then turn on each other.