Generic Sevco / Rangers meltdown thread

[GreenLake]

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@BBCchrismclaug: .@BBCSport understands the #Rangers EGM will now take place at Ibrox.

They have a dressing room Jacuzzi - sit in the hotting tub of a rotting club.

[Boyle89]

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So no calls from fat Sally types asking for people who happen not to agree with their unusual view of the world to be named then?

Lucky they seem to have a true blue moral crusader this time around

That's what immediatley sprung to mind when I read it.

[greenginger]

http://www.londonstockexchange.com/e.../12252905.html


GM at Grange Hotel cancelled because of threats made by persons unknown.

Bet Ashley used to think the Geordies were trouble.

[Ronniekirk]

You have to assume that there will be a very vocal protest inside and outside the ground for this .The police bill wil be considerable and it's difficult not to see things kicking off Off. If king et al aren't winning the vote .and giving the Punters what they want

[Jim44]

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http://www.londonstockexchange.com/e.../12252905.html


GM at Grange Hotel cancelled because of threats made by persons unknown.

Bet Ashley used to think the Geordies were trouble.

Yet another reason for charging them with bringing the game into disrepute.

[Onion]

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From the article on bbc. Dave king says...
"It is not the Rangers way to threaten individuals and there should be zero tolerance for this."
Hahahaha.

Quote of the year 😂

[Jim44]

According to King, the vote is a formality and will take a few minutes with no debate. "It was always my intention to vote by proxy and not travel to London and it remains the case that I will be in Glasgow with my fellow directors ready to commence the business of the day." Nothing like confidence so why resort to threats and thuggery!

[portycabbage]

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According to King, the vote is a formality and will take a few minutes with no debate. "It was always my intention to vote by proxy and not travel to London and it remains the case that I will be in Glasgow with my fellow directors ready to commence the business of the day." Nothing like confidence so why resort to threats and thuggery!

Seems to be jumping the gun a little there. And the bit about threats and intimidation not being the "Rangers way" reminded me of the "glib and shameless liar" quote. Anyway he meant "the the Rangers way".

[Bostonhibby]

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Seems to be jumping the gun a little there. And the bit about threats and intimidation not being the "Rangers way" reminded me of the "glib and shameless liar" quote. Anyway he meant "the the Rangers way".

I hope it is king, the clamour for him makes no sense at all -they quickly turned on Whyte then Green, both of whom were unknown quantities but potentially dodgy - the rest is history, including the love ins.

Here we have a guy where there is no doubt about his criminality, Ashley is many things as he is an accomplished and ruthless businessman - free of everything that goes with all of the aforementioned.

Really looking forward to how they get round the fit and proper person issue, as well as that associated with previously being a director of the now defunct Glasgow rangers.

[silverhibee]

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You have to assume that there will be a very vocal protest inside and outside the ground for this .The police bill wil be considerable and it's difficult not to see things kicking off Off. If king et al aren't winning the vote .and giving the Punters what they want

How will Scottish/Glasgow Police deal with the number of folk turning up for this, maybe the Police should take the decision for it not to go ahead on safety grounds, if they can't handle over 1000 fans turning up at Ibrox at night time then where will the resources come from to deal with this riot that is going to happen at Ibrox on the night.

[Newry Hibs]

So what is this vote actually for? Reading a bbc item on it, it's to remove all 4 directors and vote on 3 others including King.

Is this a straight fight between King and Ashley?

[Ringothedog]

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How will Scottish/Glasgow Police deal with the number of folk turning up for this, maybe the Police should take the decision for it not to go ahead on safety grounds, if they can't handle over 1000 fans turning up at Ibrox at night time then where will the resources come from to deal with this riot that is going to happen at Ibrox on the night.

The huns should make it all ticket charging say £100 entrance fee to their shareholders. That should just about pay for their Police bill.

[Mikey09]

All this may have been funny but to be honest it's boring the **** out me now.... Not a day goes by without these muppets hogging the headlines. I wish they would just OFF!!!

[AndyM_1875]

BBC Scotland last night were saying the Proxy votes are to be in by March 2. If King is right and has done his calculations correctly there won't be an EGM as the existing directors won't turn up to be humiliated. They'll resign en masse prior to the EGM and King & his cohorts take control and that will be that.

King bought over 15% of the club in early January. It appears he also bought out one of the institutional investors as well in late January so he is by far the biggest shareholder. Add to that you have the 3 Bears and the two fans groups who also hold shares the vote should be a fait accompli. What will be worth watching is how they deal with Ashley afterwards. When King made his pitch at that staged media event he unsurprisingly didn't attempt to pick a fight with Fat Mike.

[God Petrie]

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As the song goes

"things, can only get better"

http://www.scotsman.com/sport/footba...gers-1-3692619

Would be nice to keep them down and ensure the zombies go back to their grave.

[GreenPJ]

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BBC Scotland last night were saying the Proxy votes are to be in by March 2. If King is right and has done his calculations correctly there won't be an EGM as the existing directors won't turn up to be humiliated. They'll resign en masse prior to the EGM and King & his cohorts take control and that will be that.

King bought over 15% of the club in early January. It appears he also bought out one of the institutional investors as well in late January so he is by far the biggest shareholder. Add to that you have the 3 Bears and the two fans groups who also hold shares the vote should be a fait accompli. What will be worth watching is how they deal with Ashley afterwards. When King made his pitch at that staged media event he unsurprisingly didn't attempt to pick a fight with Fat Mike.

I thought Ashley had agreement that he would have 2 board members until the debt was paid - I would imagine any early repayment terms would have to be agreed and I can't see that having been done in time soI think there will still be a bun fight.

[Spike Mandela]

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BBC Scotland last night were saying the Proxy votes are to be in by March 2. If King is right and has done his calculations correctly there won't be an EGM as the existing directors won't turn up to be humiliated. They'll resign en masse prior to the EGM and King & his cohorts take control and that will be that.

King bought over 15% of the club in early January. It appears he also bought out one of the institutional investors as well in late January so he is by far the biggest shareholder. Add to that you have the 3 Bears and the two fans groups who also hold shares the vote should be a fait accompli. What will be worth watching is how they deal with Ashley afterwards. When King made his pitch at that staged media event he unsurprisingly didn't attempt to pick a fight with Fat Mike.

Even if King wins the vote surely the biggest hurdle to his ambitions is the SFA's fit and proper person test.

A convicted tax fraudster who was on the Rangers board that ultimately suffered an insolvency event. He claims he has assurances there is no impediment to his coronation but I would find that staggering.

The SFA could fudge things and allow it as they fear damage to a major Scottish club but on the other hand if this disreputable character leads The Rangers into another financial abyss the knives will be out and fingers pointed at the SFA for dereliction of duty.

[Bostonhibby]

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Even if King wins the vote surely the biggest hurdle to his ambitions is the SFA's fit and proper person test.

A convicted tax fraudster who was on the Rangers board that ultimately suffered an insolvency event. He claims he has assurances there is no impediment to his coronation but I would find that staggering.

The SFA could fudge things and allow it as they fear damage to a major Scottish club but on the other hand if this disreputable character leads The Rangers into another financial abyss the knives will be out and fingers pointed at the SFA for dereliction of duty.

If he wins the SFA will ask the rangers how they want it dealt with, exit left then reinvent some more acceptable rules.

Business as usual

[PatHead]

He could maybe do a Romanov or Ashley and appoint some patsies to run things for him from arms length. That way he wouldn't breach any rules.

[CropleyWasGod]

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He could maybe do a Romanov or Ashley and appoint some patsies to run things for him from arms length. That way he wouldn't breach any rules.

He would probably be deemed a shadow director in those circumstances. That has its own implications, in Company law at least.

[PatHead]

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He would probably be deemed a shadow director in those circumstances. That has its own implications, in Company law at least.

But would SFA see it like that or just do SFA?

[AndyM_1875]

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Even if King wins the vote surely the biggest hurdle to his ambitions is the SFA's fit and proper person test.

A convicted tax fraudster who was on the Rangers board that ultimately suffered an insolvency event. He claims he has assurances there is no impediment to his coronation but I would find that staggering.

The SFA could fudge things and allow it as they fear damage to a major Scottish club but on the other hand if this disreputable character leads The Rangers into another financial abyss the knives will be out and fingers pointed at the SFA for dereliction of duty.

Much will depend on who is on the SFA panel.
Rod Petrie has a history of wanting to boot Rangers in the nuts. Undoubtedly Peter Lawell would vote cynically for King out of his own club's self interest.

If the SFA don't allow Dave King to serve on the board he'll just appoint 'his man' to run the club but everyone knows who'll be running the show.
Dermot Desmond, a tax exile in Gibraltar/Barbados, is majority shareholder in Celtic and although he doesn't run the club or serve on the board he makes a lot of decisions for them. For all his tax issues in South Africa, Dave King's biggest business client is still the South African government. It's far from cut & dried.

[Off the bar]

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Much will depend on who is on the SFA panel.
Rod Petrie has a history of wanting to boot Rangers in the nuts. Undoubtedly Peter Lawell would vote cynically for King out of his own club's self interest.

If the SFA don't allow Dave King to serve on the board he'll just appoint 'his man' to run the club but everyone knows who'll be running the show.
Dermot Desmond, a tax exile in Gibraltar/Barbados, is majority shareholder in Celtic and although he doesn't run the club or serve on the board he makes a lot of decisions for them. For all his tax issues in South Africa, Dave King's biggest business client is still the South African government. It's far from cut & dried.

It is though, by the SFA rules King can't pass the fit and proper test, even if you ignore his South African affairs, he was on the board when the old company went down the pan and that fact alone rules him out.

[Jim44]

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It is though, by the SFA rules King can't pass the fit and proper test, even if you ignore his South African affairs, he was on the board when the old company went down the pan and that fact alone rules him out.

Covered here? - http://www.barrellison.co.uk/legal-news-and-views/director-disqualification

[CropleyWasGod]

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But would SFA see it like that or just do SFA?

From what I understand about Company Law, DK would have a bigger problem with the Procurator Fiscal than the SFA.

[Off the bar]

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Covered here? - http://www.barrellison.co.uk/legal-n...squalification

Not sure about the 'real world' legalities of him holding a directorship but I'm pretty sure it is an SFA rule that if you were on the board of a club that goes mammaries skyward you are disqualified for 5 years before you can be involved at board level again with a club.

[Jack]

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From what I understand about Company Law, DK would have a bigger problem with the Procurator Fiscal than the SFA.

And I suspect that is what the SFA will wait for rather than becoming involved and making the decision themselves. That way they don't alienate 10s of thousands of fans on either side of the debate.

[Just Alf]

Hun at work told me this morning that the reason Mccoist is still there is the 12 month rolling contract he was on stipulated that if either party wanted it ended early there was a penalty clause meaning the party ending the contract had a significant compensation payment to make, both sides are refusing to budge on it hence the current stand off (and happily for the, the Rangers it makes Mccoist look bad)

Any of you financial types know if that's plausible? Matey seemed adamant about it.

[PatHead]

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So what is this vote actually for? Reading a bbc item on it, it's to remove all 4 directors and vote on 3 others including King.

Is this a straight fight between King and Ashley?

Is one of the others not Paul Murray who is not allowed to be a Director of a Scottish Football Club as he was a director of Rangers under David Murray and Whyte. He is therefore banned for a minimum of 3 years from being a Director of a football club which will not expire until the summer.

BTW does anyone know what he does because he never puts money up, just hangs about like a bad smell under anyone that will have him.

Think his defence at the time was something like "I asked for paperwork but they wouldn't give it to me so I stayed to keep an eye on things, it wisnae me I just took the benefits going"

[PatHead]

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Hun at work told me this morning that the reason Mccoist is still there is the 12 month rolling contract he was on stipulated that if either party wanted it ended early there was a penalty clause meaning the party ending the contract had a significant compensation payment to make, both sides are refusing to budge on it hence the current stand off (and happily for the, the Rangers it makes Mccoist look bad)

Any of you financial types know if that's plausible? Matey seemed adamant about it.

Not an employment specialist but would not surprise me if there was a pay off clause. Everyone else seemed to have one that left the club with a bag of money under their arm. It actually makes McCoist look better as he can claim they wanted him to pay to leave and that would be unfair. (Ignoring the fact he is on shedloads of money to get serenaded by Hibs supporters after the game.)