Generic Sevco / Rangers meltdown thread

[WillowbraeHibby]

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The language and wording of that email is embarassing and highlights Kings ego at play, the man is clearly another in the same mould as Whyte or Green and ego is clearly bigger than his business acumen as proven in the SA law courts.

Ashley will run rings around them if he chooses to do so especially with emails like that being sent out by King.

Is the only reason they are supporting King and co in this being that they are Rangers minded? Hardly a recipe for success recently ;-)

If I was a hun, god help me, i would rather Ashley and his team kept reducing costs and making the whole business viable again, but they cant see that and want them back u giving Sellick a bloody nose whatever the cost, its foolish and will end in disaster!

I do hope so.......

[Iain G]

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I do hope so.......

Dont we all :-D

[CB_NO3]

MA is a tough character and a well connected man at that. Am I right in saying MA owns 80% of the huns merchandising rights and also has loans roughly about 5m owed to him?

[WillowbraeHibby]

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Dont we all :-D

[WillowbraeHibby]

STV Sport ‏@STVSport now6 seconds ago
Mike Ashley handed £7,500 fine by Scottish FA over duel interest http://bit.ly/1B5bCUy

[cabbageandribs1875]

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STV Sport ‏@STVSport now6 seconds ago
Mike Ashley handed £7,500 fine by Scottish FA over duel interest http://bit.ly/1B5bCUy

wow, bet he never does that again eh, he will probably send them an old sock with 10k stuffed in it and tell them to keep the change



:)

[DarrenSQH]

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STV Sport ‏@STVSport now6 seconds ago
Mike Ashley handed £7,500 fine by Scottish FA over duel interest http://bit.ly/1B5bCUy

Probably the equivalent of giving me a 1p fine.

[JimBHibees]

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STV Sport ‏@STVSport now6 seconds ago
Mike Ashley handed £7,500 fine by Scottish FA over duel interest http://bit.ly/1B5bCUy

Thats put him in his place.

[WillowbraeHibby]

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wow, bet he never does that again eh, he will probably send them an old sock with 10k stuffed in it and tell them to keep the change



:)

Yep... They fair hammered him so they did... The circus rolls along.....

[AndyM_1875]

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King is playing hardball and with the mutants on his side he thinks he is home and dry. The SFA may well be swayed but rest assured the Law Courts will not be. King and Murray cannot be directors as it is illegal for them to be. May appoint a couple of patsy's. Brown and Goram ?????

King & Murray appointing a couple of patsies is very likely but Bomber and Goram?!?!
That would be a car crash.
That pair of heidbangers are fine holding court with the mouth breathers in the Louden Tavern but being expected to behave as appointed directors? No chance.

[CropleyWasGod]

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King & Murray appointing a couple of patsies is very likely but Bomber and Goram?!?!
That would be a car crash.
That pair of heidbangers are fine holding court with the mouth breathers in the Louden Tavern but being expected to behave as appointed directors? No chance.

Appointing someone in his stead might well fall foul of the Companies Act anyway. He would probably be held to be a shadow director.

[grunt]

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STV Sport ‏@STVSport now6 seconds ago
Mike Ashley handed £7,500 fine by Scottish FA over duel interest http://bit.ly/1B5bCUy

So, is that it? A fine? If I read it right, the fine was because he appointed his henchmen to the Board. So do they get to stay? (I realise that the DK activities may affect this). But, a fine? And no change to the underlying cause of the problem? What's the point of that?

[CropleyWasGod]

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So, is that it? A fine? If I read it right, the fine was because he appointed his henchmen to the Board. So do they get to stay? (I realise that the DK activities may affect this). But, a fine? And no change to the underlying cause of the problem? What's the point of that?

I think the SFA are putting a marker down.

Let's say that Friday's meeting changes nothing, and that MA continues as is. He will continue to be charged by the SFA, and each punishment will be worse than the last, with the ultimate sanction being....suspension of his guys?? Not sure how far they can go, TBH.

I don't think even MA would be able to sustain that.

IMO, this is a shot across the bows, which might be all that happens, depending on how the DK thing plays out.

[lord bunberry]

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STV Sport ‏@STVSport now6 seconds ago
Mike Ashley handed £7,500 fine by Scottish FA over duel interest http://bit.ly/1B5bCUy

£7.5k I bet he's bricking it now, the SFA really mean business this time. He probably paid cash on the spot.

[Benny Brazil]

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STV Sport ‏@STVSport now6 seconds ago
Mike Ashley handed £7,500 fine by Scottish FA over duel interest http://bit.ly/1B5bCUy

Well they certainly told him - makes you wonder what they would do if he managed to get more than the permitted number of shares? Not a lot going by the above.
Just add fuel to the fire about how corrupt the SFA are. Regan is a complete and utter waste of time.

[WillowbraeHibby]

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I think the SFA are putting a marker down.

Let's say that Friday's meeting changes nothing, and that MA continues as is. He will continue to be charged by the SFA, and each punishment will be worse than the last, with the ultimate sanction being....suspension of his guys?? Not sure how far they can go, TBH.

I don't think even MA would be able to sustain that.

IMO, this is a shot across the bows, which might be all that happens, depending on how the DK thing plays out.

Now, I don't kid myself on that I know all the inn's and oot's o' this mess, but reading the postings, please do tell me that there is a lot more fun and games to come yet?

[ballengeich]

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I agree that they'll wait until the result of the gm is known.

I thought that would be Friday, but I guess the SFA believe that the result's in the bag. A £7500 fine and no instruction not to continue offending will show him the SFA isn't to be messed with - it must be nearly a day's profit from Rangers Retail.

[grunt]

Andy Newport ‏@AndyNewportPA4m4 minutes agoRangers announce to Stock Exchange they are starting process which will allow them to draw down second £5m tranche from Mike Ashely's loan

[greenginger]

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I thought that would be Friday, but I guess the SFA believe that the result's in the bag. A £7500 fine and no instruction not to continue offending will show him the SFA isn't to be messed with - it must be nearly a day's profit from Rangers Retail.

So, a £7,500 fine for King if he becomes a Rangers director and that will be that. Rules enforced .

[Weststandwanab]

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Appointing someone in his stead might well fall foul of the Companies Act anyway. He would probably be held to be a shadow director.

I think undoubtedly that will be the case in this instance.

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£7.5k I bet he's bricking it now, the SFA really mean business this time. He probably paid cash on the spot.

He will pay it by American Express just to piss them off knowing MA

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Now, I don't kid myself on that I know all the inn's and oot's o' this mess, but reading the postings, please do tell me that there is a lot more fun and games to come yet?

Yes, I think this chapter is only just starting.

[Ozyhibby]

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Andy Newport ‏@AndyNewportPA4m4 minutes agoRangers announce to Stock Exchange they are starting process which will allow them to draw down second £5m tranche from Mike Ashely's loan

Big Mike makes his move. :-) bet he gets new Rangers to pay his £7.5k fine as well.

[HoboHarry]

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Big Mike makes his move. :-) bet he gets new Rangers to pay his £7.5k fine as well.

I'm not really understanding how this is MA making his move?

[Spike Mandela]

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Andy Newport ‏@AndyNewportPA4m4 minutes agoRangers announce to Stock Exchange they are starting process which will allow them to draw down second £5m tranche from Mike Ashely's loan

Ashley retaliates??

Edit: Will King revert to Rangers type and just refuse to repay it?

[Del Boy]

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Ashley retaliates??

Sounds like it. Going to get even messier!

[grunt]

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Ashley retaliates??

I'm not sure what sort of retaliation it is where Ashley piles in another £5m.
"Take that, DK!".
"ok, thanks".

[Prof. Shaggy]

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He talks about the costs of the GM, and how they might be avoided.

I would have thought that the majority of those costs have been incurred already. The printing, the postage, the security, will all have to be paid for.

You're suggesting the habits of a lifetime can be changed just like that?

[Weststandwanab]

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You're suggesting the habits of a lifetime can be changed just like that?

I am sure the word “incurred” will be crucial to CWG’s response.

[grunt]

Notice to Stock Exchange

The Board of Rangers announces that the Company has commenced the process of satisfying the conditions for drawdown of the second tranche of the facility announced on 27 January 2015 with SportsDirect.com Retail Limited and associated companies ("SD") (the "Facility") in order to meet its cash requirements for the third week of March. Drawdown of the second tranche of the Facility is subject to due diligence by SD. Shareholders should be aware that there are other conditions of drawdown which include a material and adverse change and/or significant, adverse event condition which could impact upon the willingness of SD to release the funds. If the funds are not able to be drawn down from the Facility, alternative sources of external funding will be required.

[Bostonhibby]

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Yep... They fair hammered him so they did... The circus rolls along.....

If you think they have been harsh here, wait until they sweep King through the F&PP test by just calling him a very naughty boy.

Personally I can't see any of the candidates passing the Ibrox Fat & Protestant Prick test - At least one of them is definitely not fat .

[grunt]

Woman on BBC Radio Scotland just said the fine was £750,000!