Generic Sevco / Rangers meltdown thread

***CropleyWasGod*** · 05-03-2015 06:56 PM

Originally Posted by Billy Whizz

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King was on at the tail end of Sportsound tonight, he'd just landed from London. Said he'd initially thought Rangers would need around £20m. Said the figure now would be upwards of that, he's putting in 1/2, and the other investors the rest. If I caught it correctly, he said they want to be playing in the Europa League in 2 years

I would reckon they need most of that immediately. For a start, they need 10m to get rid of Ashley.

***AlbertK86*** · 05-03-2015 07:04 PM

Originally Posted by CropleyWasGod

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I would reckon they need most of that immediately. For a start, they need 10m to get rid of Ashley.

And that's just for the loans

Does he not still have loads of the commercial rights as well

***CropleyWasGod*** · 05-03-2015 07:07 PM

Originally Posted by AlbertK86

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And that's just for the loans

Does he not still have loads of the commercial rights as well

He does, but that's not hugely important in the short term. TRFC will try to get out of those deals in time, but it will take a lot of cash.

***Moulin Yarns*** · 05-03-2015 07:07 PM

Originally Posted by CropleyWasGod

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I would reckon they need most of that immediately. For a start, they need 10m to get rid of Ashley.

And....

the second £5million drawdown is apparently required by the end of the month, at which point I will speculate the end of the financial year may mean HMRC or VAT payments

**Cropley10** · 05-03-2015 07:15 PM

Originally Posted by CropleyWasGod

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I would reckon they need most of that immediately. For a start, they need 10m to get rid of Ashley.

Oh and they spend more than £8m a year than they bring in.

Loads of players out of contract.

No scouting network

No line of credit from a Bank

Repairs needed to Ibrox

No money to be made in Europa League either.

Brilliant!!

***CropleyWasGod*** · 05-03-2015 07:16 PM

Originally Posted by Golden Fleece

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And....

the second £5million drawdown is apparently required by the end of the month, at which point I will speculate the end of the financial year may mean HMRC or VAT payments

The Twittering classes are saying that HMRC are due cash at the end of March, presumably for VAT.

Originally Posted by Golden Fleece

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And....

the second £5million drawdown is apparently required by the end of the month, at which point I will speculate the end of the financial year may mean HMRC or VAT payments

**Cropley10** · 05-03-2015 07:17 PM

Originally Posted by CropleyWasGod

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He does, but that's not hugely important in the short term. TRFC will try to get out of those deals in time, but it will take a lot of cash.

Very few income streams available to DK & lots of cash - hard cash - required to get rid of Ashley. Money they don't have IMHO.

***AlbertK86*** · 05-03-2015 07:23 PM

Originally Posted by CropleyWasGod

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He does, but that's not hugely important in the short term. TRFC will try to get out of those deals in time, but it will take a lot of cash.

Yep agree re the short term but the merchandise can be a huge money earner if they get all the bigots around the world back on board !!!

***Eyrie*** · 05-03-2015 07:35 PM

Originally Posted by Brunswickbill

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I know zilch about company law but here's my tuppence worth for what it's worth. Isn't the legislation relating to Directors continuing using the name of a liquidated company to do with so called "Phoenix companies" where a business gets wound up and immediately reappears with the same name and the same directors? I hardly think that this applies to what has happened with Rangers. Also, if it is a problem surely they could just agree to change the name of the holding company. I reckon that the problems for King are elsewhere and that this name problem may be red (white and blue) herring.

The liquidated club was called Rangers (ie Huns RIP), and the new club is officially called The Rangers (aka Sevco Huns). It operates the same business of football, using many of the employees of the old company and the same premises.

Looks like a phoenix company to me

**The Pointer** · 05-03-2015 07:41 PM

As the MSM faun over TRFC with increased vigour and DK arrives at Glasgow Airport, the feeding frenzy begins to establish them 'where they belong.' DK's Messianic tone suggests he is very confident of coming out of the meeting smelling of roses - which is exactly the impression he wants to give to the baying Bluenose hordes and the reporters waiting to provide their editors with succulent headlines.

If he is talking about "north of £20m" he must indeed have other individuals who have confirmed they want to contribute substantial funds. After all that has gone before, you wonder how there can still be anyone out there daft enough to put large sums of money into this financial whirlpool.

However, Ashley has been sitting pretty patient and silent during all this and having heard Llambas's own comments this evening I think he will come up with a surprise. He's not out of it yet as he still holds several important cards.

I've been following this thread for donkeys, frequently several times a day as it is such a laugh. My wish is for them just to fall off the edge of the planet never to reappear, but unfortunately that is unlikely to be the outcome. I'm not sure how DK proposes to be involved as he is quite obviously not a FaPP, but ultimately I think he and Ashley will agree some form of co-existence, as the latter is not going to let go of his sweetie bag any time soon. He knows the aforementioned scabrous hordes will spend, spend, spend when New Newco achieve some form of stability and splash out on a new manager.

**Weststandwanab** · 05-03-2015 07:48 PM

Originally Posted by CropleyWasGod

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I would reckon they need most of that immediately. For a start, they need 10m to get rid of Ashley.

An the rest - apparently there are early repayment penalties - excuse the football pun

Originally Posted by CropleyWasGod

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The Twittering classes are saying that HMRC are due cash at the end of March, presumably for VAT.

Well it certainly will not be Corporation Tax.

Originally Posted by Eyrie

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The liquidated club was called Rangers (ie Huns RIP), and the new club is officially called The Rangers (aka Sevco Huns). It operates the same business of football, using many of the employees of the old company and the same premises.

Looks like a phoenix company to me

It certainly does.

***Bostonhibby*** · 05-03-2015 07:59 PM

Originally Posted by Eyrie

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The liquidated club was called Rangers (ie Huns RIP), and the new club is officially called The Rangers (aka Sevco Huns). It operates the same business of football, using many of the employees of the old company and the same premises.

Looks like a phoenix company to me

It looks like the now defunct Glasgow rangers, it definitely smells like the now defunct Glasgow rangers and there's no doubt it sounds like the now defunct Glasgow rangers even if there are thousands missing every week.

**Iain G** · 06-03-2015 06:58 AM

I see that in amongst his waffle and spin at glasgow airport he states his ambition is to make TheRangers a "solid number two"...

**Ronniekirk** · 06-03-2015 07:15 AM

Originally Posted by Iain G

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I see that in amongst his waffle and spin at glasgow airport he states his ambition is to make TheRangers a "solid number two"...

Talking *****

***ian cruise*** · 06-03-2015 07:22 AM

Originally Posted by Bostonhibby

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It looks like the now defunct Glasgow rangers, it definitely smells like the now defunct Glasgow rangers and there's no doubt it sounds like the now defunct Glasgow rangers even if there are thousands missing every week.

That's the thing, they've gone to great lengths to make sure everyone knows they're the same club, and been allowed to get away with that. It would be ludicrous if they used the argument now they were different

**Ronniekirk** · 06-03-2015 07:22 AM

Originally Posted by Bostonhibby

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It looks like the now defunct Glasgow rangers, it definitely smells like the now defunct Glasgow rangers and there's no doubt it sounds like the now defunct Glasgow rangers even if there are thousands missing every week.

Let's see how quickly
the missing thousands flock back starting with first home game after King is coronated today That will be barometer if the bigoted Hoardes will just automatically return to sing thier Triumphal songs in anticipation of thier expected return to the big time .you can hear it now No one likes us we don't care , the cry was no surrender etc Or will it also take Managerial change to persuade the more discerning blue nose to return to the fold .

**Ronniekirk** · 06-03-2015 07:28 AM

Originally Posted by ian cruise

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That's the thing, they've gone to great lengths to make sure everyone knows they're the same club, and been allowed to get away with that. It would be ludicrous if they used the argument now they were different

But we all know they will stoop to any lengths now ,and still try and claim the Moral High Ground that despite everyone else being against them they have prevailed in Thete quest to come right back through the divisions at first time of adking to restore the Natural Order as they see it All the Financial carnage and deals and side deals and the fact they have dragged the reputation of scottish football through the sewer will get quickly forgot and be sanitised and rewritten No doubt there are a few best sellers waiting in the wings to be published that the Hoardes will lap up

***lord bunberry*** · 06-03-2015 07:35 AM

Originally Posted by Eyrie

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The liquidated club was called Rangers (ie Huns RIP), and the new club is officially called The Rangers (aka Sevco Huns). It operates the same business of football, using many of the employees of the old company and the same premises.

Looks like a phoenix company to me

But neither King or Murray were responsible for setting up the Phoenix company. I don't know if that's relevant or not.

**Alex Trager** · 06-03-2015 07:36 AM

If it only takes £40M for them to get to strength, considering the mess they are in, how much would it cost for us?

Obviously I am winning the £75M tonight so I am thinking I could possibly part with £20M to see the club prosper on the field.

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***greenginger*** · 06-03-2015 07:41 AM

Originally Posted by lord bunberry

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But neither King or Murray were responsible for setting up the Phoenix company. I don't know if that's relevant or not.

I would'nt have thought that would make any difference. It would be easy to get a couple of stooges to set up a Phoenix company , then the real operators to move in unhindered.

**Ronniekirk** · 06-03-2015 08:22 AM

King indicating he will appoint more directors quickly so we may know soon who else is putting money in

***offshorehibby*** · 06-03-2015 08:30 AM

Originally Posted by CropleyWasGod

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Without the NOMAD, TRFC Can't trade their shares on the Stock Market.

The problem people have is that DK won't say who his NOMAD is to be, which suggests that he hasn't found anyone who will work with him.

According to Twitter tonight, he has someone who might do it, but who "needs to see the books first".

As they should.

Have i missed something, who or what is the NOMAD or is this just a term we have called the imaginary investor. Maybe it's a whoosh moment.

***s.a.m*** · 06-03-2015 08:36 AM

Originally Posted by offshorehibby

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Have i missed something, who or what is the NOMAD or is this just a term we have called the imaginary investor. Maybe it's a whoosh moment.

NOMinated ADviser. I think. And you need one to trade on the stock exchange. I think. That's the extent of my knowledge.

***greenginger*** · 06-03-2015 08:54 AM

After today's vote, King gets two of his people on the board ( not himself yet ) and Ashley gets to appoint 2 directors because of the loan conditions ( presume the same pair that were voted off ) .

That leaves the Holding company ,Rangers International split 2 aside. Is there a casting vote ? Can King force through any changes ?

Also the Football club board , is not immediately affected by today's vote and the other Easedale , Alexander is still a director there so Ashley may have 3 men in place there and without a majority on the Holding Company can't place anyone on the football club board,
I think.

**Andy74** · 06-03-2015 09:36 AM

I hope the Hibs players have taken note of King's comments that Rangers being the number 2 club in Scotland will happen 'very quickly'.

We can make that process a bit slower.

**Iain G** · 06-03-2015 09:38 AM

Originally Posted by Andy74

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I hope the Hibs players have taken note of King's comments that Rangers being the number 2 club in Scotland will happen 'very quickly'.

We can make that process a bit slower.

He looks like an even more glaikit looking Kenny Dalglish to me...but Kenny makes more sense!

**Alex Trager** · 06-03-2015 09:44 AM

Originally Posted by greenginger

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After today's vote, King gets two of his people on the board ( not himself yet ) and Ashley gets to appoint 2 directors because of the loan conditions ( presume the same pair that were voted off ) .

That leaves the Holding company ,Rangers International split 2 aside. Is there a casting vote ? Can King force through any changes ?

Also the Football club board , is not immediately affected by today's vote and the other Easedale , Alexander is still a director there so Ashley may have 3 men in place there and without a majority on the Holding Company can't place anyone on the football club board,
I think.

Is this not what the Rangers' fans were expecting/wanting?

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**CB_NO3** · 06-03-2015 09:46 AM

So a tax dodger is going to save the club that died for not paying its tax. The weedgie knuckleheads are actually buying it. They are going to crash again. They made a 7 million pound loss last year and have added around another 5-10 million pound loans since then. They have 80% of their merchandising rights owned by MA, yet they will be in Europe in two years.

Even Celtic who have sold Hooper for 7 million, Foster for 10 million, Wanyama for 12 million and qualified for 2 champions leagues in the last 4 years are signing players at 7 to 8 grand a week.

The Huns are really in cuckoo land.