Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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Wages due?

Tomorrow, AFAIK.

[worcesterhibby]

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As I understand it, it's Rangers Retail (a separate company, not the club) which is paying the dividend in order to repay him "something" that he was owed.

The £10m loan is for the club only, and they have use of £2m of it just now.

Do we have any idea what their outgoings are per month ? I'm guessing this £2million won't be able to be used to get a new manager or any players in the Jan Transfer window

[Cropley10]

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Totally agree CWG.

Another share offer will definitely happen but it'll be interesting to see how Ashley plays this now.
Will he look to make peace with the "Rangers Men" forcing the EGM or does he attempt to blow them away and take the club over lock, stock and barrel after perhaps selling Newcastle?

If Llambias or whoever is in charge in June hires a competent manager(Billy Davies, Stuart McCall) who is then set a properly realistic salary budget (all the 7k a week brigade will be away) and stops hiring players with no resale value (29 and over) then Rangers will probably have a relatively stress free run towards promotion to the Premiership starting 2016/2017.

But whichever way you look at it they first need to find:

£2m to pay off the first tranche of this SD Loan

£5m to pay off Ashley and they've still got to finish this season.

£23m to £30m (allowing for current squad budget) to immediately assemble a squad comparable to Celtc's or at least better than a good Aberdeen side, so that CL progression can be achieved.

Around £10m to £14m in annual non footballing operations costs, without considering the persistence of onerous contracts.

Merchandising and catering have already been hawked off. So I think it will take a lot of cash and a lot of upheaval to resolve.

Sorry, I don't share your optimism.

[Weststandwanab]

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Wages due?

Due to be in Player's accounts and cleared by Thursday morning

[Iain G]

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But whichever way you look at it they first need to find:

£2m to pay off the first tranche of this SD Loan

£5m to pay off Ashley and they've still got to finish this season.

£23m to £30m (allowing for current squad budget) to immediately assemble a squad comparable to Celtc's or at least better than a good Aberdeen side, so that CL progression can be achieved.

Around £10m to £14m in annual non footballing operations costs, without considering the persistence of onerous contracts.

Merchandising and catering have already been hawked off. So I think it will take a lot of cash and a lot of upheaval to resolve.

Sorry, I don't share your optimism.

So he loans them £10m, on top of the £3m he has already loaned them, meaning £13m in total. £3m of this loan is effectively to pay himself back, so that means they still owe him £10m, or am I going mad...

[CropleyWasGod]

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So he loans them £10m, on top of the £3m he has already loaned them, meaning £13m in total. £3m of this loan is effectively to pay himself back, so that means they still owe him £10m, or am I going mad...

At the moment, they only owe him/MASH/SD £5m. The other £5m has been held back, pending "due diligence".

[emerald green]

Apologies if this has already been covered elsewhere on this huge thread, but what I can't quite get my head around is this:

Mike Ashley / Sports Direct keep lending The Rangers millions of pounds, thus preventing the newco falling into administration (with the resultant 25 points deduction). Yet, at the same time as this latest loan was announced, the Scottish FA's judicial panel was expected to begin its hearing into whether Ashley was in contravention of its rules on dual interests in football clubs.

How can this be right? What is it I'm not seeing here? What if the same judicial panel find Ashley is in contravention of its rules on dual interests in football clubs? What happens then? Do they have to give him his money back?

[CropleyWasGod]

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Apologies if this has already been covered elsewhere on this huge thread, but what I can't quite get my head around is this:

Mike Ashley / Sports Direct keep lending The Rangers millions of pounds, thus preventing the newco falling into administration (with the resultant 25 points deduction). Yet, at the same time as this latest loan was announced, the Scottish FA's judicial panel was expected to begin its hearing into whether Ashley was in contravention of its rules on dual interests in football clubs.

How can this be right? What is it I'm not seeing here? What if the same judicial panel find Ashley is in contravention of its rules on dual interests in football clubs? What happens then? Do they have to give him his money back?

I would expect that he would be given a period of time to comply with their ruling. ie get out of NUFC or RFC, or at least reduce his involvement.

Then the ball would be in his court. ....

[jonty]

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Apologies if this has already been covered elsewhere on this huge thread, but what I can't quite get my head around is this:

Mike Ashley / Sports Direct keep lending The Rangers millions of pounds, thus preventing the newco falling into administration (with the resultant 25 points deduction). Yet, at the same time as this latest loan was announced, the Scottish FA's judicial panel was expected to begin its hearing into whether Ashley was in contravention of its rules on dual interests in football clubs.

How can this be right? What is it I'm not seeing here? What if the same judicial panel find Ashley is in contravention of its rules on dual interests in football clubs? What happens then? Do they have to give him his money back?

At which point he'll say "you cant do that because The Rangers will collapse and you (The SPFL/SFA) will have caused the mess" and he'll get to keep on doing what he's doing. Whatever that is.

[Jim44]

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Apologies if this has already been covered elsewhere on this huge thread, but what I can't quite get my head around is this:

Mike Ashley / Sports Direct keep lending The Rangers millions of pounds, thus preventing the newco falling into administration (with the resultant 25 points deduction). Yet, at the same time as this latest loan was announced, the Scottish FA's judicial panel was expected to begin its hearing into whether Ashley was in contravention of its rules on dual interests in football clubs.

How can this be right? What is it I'm not seeing here? What if the same judicial panel find Ashley is in contravention of its rules on dual interests in football clubs? What happens then? Do they have to give him his money back?

I think the SFA are a bit frightened of how Ashley is laughing in their faces or at least they are giving him time and space to build his case. Maybe they see Ashley, while not the fan's favourite, as the most likely to keep them from Administration and will bend over backwards to clear the road back to top league.

[emerald green]

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I would expect that he would be given a period of time to comply with their ruling. ie get out of NUFC or RFC, or at least reduce his involvement.

Then the ball would be in his court. ....

OK thanks for this. It will be interesting to hear what their ruling is. I cannot see Ashley walking away from Newcastle United though.

[jonty]

at the risk of sounding like one of the great unwashed zombies - whats the big deal if he has a football club in a different country?

[Bishop Hibee]

If Ashley wasn't allowed to own Rangers 'yesterday' due to his ownership of Newcastle Utd, how will the SFA let him own Rangers 'today/tomorrow' unless he flogs Utd? The SFA must be bricking it over having to make a decision on this.

[bingo70]

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If Ashley wasn't allowed to own Rangers 'yesterday' due to his ownership of Newcastle Utd, how will the SFA let him own Rangers 'today/tomorrow' unless he flogs Utd? The SFA must be bricking it over having to make a decision on this.

Why? They didn't duck out of it when they made them start again in the bottom division.

[kaimendhibs]

I have no substance to say this other than I don't trust the football authorities in Scotland at all. So my prediction is that the SFA will do an amazing U Turn and find in favour of Ashley and newco!!

[emerald green]

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at the risk of sounding like one of the great unwashed zombies - whats the big deal if he has a football club in a different country?

Fair point. Personally, I have no idea whatsoever if it's relevant that someone, like Ashley, has interests in clubs in Scotland and England (or anywhere else for that matter).

The fact that the SFA's judicial panel is even looking at this I can only presume there is some point, or justification, for doing so? My interest is that I don't wish to see the newco escape a points deduction by avoiding going into administration unfairly and/or against the rules, of which I'm unfamiliar I have to admit.

[jonty]

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Fair point. Personally, I have no idea whatsoever if it's relevant that someone, like Ashley, has interests in clubs in Scotland and England (or anywhere else for that matter).

The fact that the SFA's judicial panel is even looking at this I can only presume there is some point, or justification, for doing so? My interest is that I don't wish to see the newco escape a points deduction by avoiding going into administration unfairly and/or against the rules, of which I'm unfamiliar I have to admit.

they'll be looking at it because there will be some rule that they need to pay lip service too, but IMO he'll get away with whatever he wants.

[Ronniekirk]

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Almost true, but the club are getting £2m, not £400k :)

Could a large part of the 2 million be used to bring in players ,or is that primarily to cover wages and keep the lecky on etc

[Kavinho]

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Why? They didn't duck out of it when they made them start again in the bottom division.

Really?
I thought they passed the buck to the SPL clubs, who in turn had to be barracked by fans to vote against allowing them into the top flight..

Then the SFA had the chance to say "it wisnae me but you have to start at the bottom

might be selectively remembering this now of course. .. !

[jonty]

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Really?
I thought they passed the buck to the SPL clubs, who in turn had to be barracked by fans to vote against allowing them into the top flight..

Then the SFA had the chance to say "it wisnae me but you have to start at the bottom

might be selectively remembering this now of course. .. !

don't forget the snakes and their 5-way-agreement letter.

[Kavinho]

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don't forget the snakes and their 5-way-agreement letter.

How could I ?!

Oh and "Armageddon"

[greenginger]

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they'll be looking at it because there will be some rule that they need to pay lip service too, but IMO he'll get away with whatever he wants.

http://www.scottishfa.co.uk/resource...202014-15..pdf


Clause 13 on pages 85 - 87 covers duel interests. Its pretty comprehensive but........ where there's a will there's way.

[Kavinho]

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http://www.scottishfa.co.uk/resource...202014-15..pdf


Clause 13 on pages 85 - 87 covers duel interests. Its pretty comprehensive but........ where there's a will there's way.

Is it not something to do with "custom and practice"
?!

[jonty]

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http://www.scottishfa.co.uk/resource...202014-15..pdf


Clause 13 on pages 85 - 87 covers duel interests. Its pretty comprehensive but........ where there's a will there's way.

yeah. that.


theres rules that cover player movement & registration between transfer windows too

[Deansy]

Guaranteed the GFA will allow the Hun\Ashley to do whatever they like claiming their hands were tied because any other course of action would've resulted in the demise of this 'Great British Institution' and no-one could seriously want that ................. apart from every other Scottish Football-fan, Scottish Society and every single person on this planet stupid enough to believe in decency, honesty and fair-play !!!

But that won't matter a jot to the 'Leaders of our game' .......

[CropleyWasGod]

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Guaranteed the GFA will allow the Hun\Ashley to do whatever they like claiming their hands were tied because any other course of action would've resulted in the demise of this 'Great British Institution' and no-one could seriously want that ................. apart from every other Scottish Football-fan, Scottish Society and every single person on this planet stupid enough to believe in decency, honesty and fair-play !!!

But that won't matter a jot to the 'Leaders of our game' .......

Yet it did when they stopped him increasing his shareholding

[truehibernian]

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Yet it did when they stopped him increasing his shareholding

CWG, I noted that the loan was secured against land/assets aside from Ibrox......the land around Ibrox includes a car park but if memory serves me right (if it's theirs), a huge football pitch sized area (which was/is a football pitch ).......if things fail for Ashley owning The Rangers', is the 'land grab' significant ?

[ScottB]

I am curious as to why there's such an objection on him owning both, Romanov owned several teams and I don't recall that being an issue for Hearts?

[Ozyhibby]

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I am curious as to why there's such an objection on him owning both, Romanov owned several teams and I don't recall that being an issue for Hearts?

UEFA rules have changed since then and it is no longer allowed.

[greenginger]

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UEFA rules have changed since then and it is no longer allowed.

I think its a SFA rule rather than UEFA. UEFA won't allow duel owned clubs to compete in the same European competition, but the English Premier League does not seem to mind their owners having diddy teams as well.

I think the Chelsea owner has a club in Belgium as well.