Generic Sevco / Rangers meltdown thread

[Spike Mandela]

Still no sign of a nomad and trying to circumvent the SFA fit and proper test via the court of session.

Is the real plan to get The Rangers delisted, away from the scrutiny and regulation that it entails, then under the cloak of relative secrecy Mr King to suddenly find investment from unnamed sources and to return to the David Murray way of running a loss making company? In the new spirit of transparency of course.

[Ronniekirk]

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Yes £1.5m according to the BBC.

http://www.bbc.co.uk/sport/0/football/32020601

I'd think that wouldn't last very long.

Is it not one point five million from each of the Three Bears

[davidw]

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Attachment 14624

What a fantastic headline. It could apply to so many of their players over the years...

[grunt]

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Is it not one point five million from each of the Three Bears

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Rangers have agreed loans totalling £1.5m from shareholders Douglas Park, George Letham and George Taylor

If it was £1.5m each it would total £4.5m. Though of course the BBC could be wrong.

[Deansy]

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Still no sign of a nomad and trying to circumvent the SFA fit and proper test via the court of session.

Is the real plan to get The Rangers delisted, away from the scrutiny and regulation that it entails, then under the cloak of relative secrecy Mr King to suddenly find investment from unnamed sources and to return to the David Murray way of running a loss making company? In the new spirit of transparency of course.

If I had a spare house I'd bet it on THIS being the case - King was never out of the media before taking them over and now he's went all 'Howard Hughes' ??. 5 minutes after they're delisted, he'll magically re-appear with a big wad of cash with, as said, NO details of where it came from. Media-scrutiny won't bother him as there won't be any !

[CropleyWasGod]

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If I had a spare house I'd bet it on THIS being the case - King was never out of the media before taking them over and now he's went all 'Howard Hughes' ??. 5 minutes after they're delisted, he'll magically re-appear with a big wad of cash with, as said, NO details of where it came from. Media-scrutiny won't bother him as there won't be any !

In that situation, it would only take 1 accountant, lawyer or similar to do their job and SOCA (or whatever they're calling themselves these days) would be duty bound to investigate.

[Ronniekirk]

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If it was £1.5m each it would total £4.5m. Though of course the BBC could be wrong.

Didn't read the article just assumed they would need nearer the five million There must be other plans afoot so no doubt all will be revealed in due course .King probably consulting with The powers that be to see exactly what he will get away with .
After the much vaunted triumphal entrance and whirl of media arse licking and utterances of we are back everyone needs us and we will dominate again within two yerars they seem to be preoccupied with something else Maybe all the contracts Ashley and previous board have left in thier wake are taking longer to unravel so they are just ticking over just now
When should Nomad be in place ?

[southsider]

Nicky Law is today's paper "everybody hates us". Well Nicky perhaps if your fans stopped the vile, sectarian chants, stopped holding up banners supporting murderous, cowardly killers and pay your tax you might, just might get a change of attitude towards your hated club. I shall not hold my breath.

[Phil D. Rolls]

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Nicky Law is today's paper "everybody hates us". Well Nicky perhaps if your fans stopped the vile, sectarian chants, stopped holding up banners supporting murderous, cowardly killers and pay your tax you might, just might get a change of attitude towards your hated club. I shall not hold my breath.

Siege mentality. What NICKY probably doesn't realise is how right he is when he says EVERYBODY.

[Keith_M]

"No one likes us, it's no fair"

[ballengeich]

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In that situation, it would only take 1 accountant, lawyer or similar to do their job and SOCA (or whatever they're calling themselves these days) would be duty bound to investigate.

In addition, he'd need a good story for SARS about where the money came from.

[greenginger]

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If it was £1.5m each it would total £4.5m. Though of course the BBC could be wrong.

http://www.londonstockexchange.com/e.../12290913.html


Seems pretty clear the loan from the three bears is for a total of £ 1.5 million.

This is to give them " time to solve their long term funding issues."

About a month and then get the season tickets on sale.

[magpie1892]

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Nicky Law is today's paper "everybody hates us". Well Nicky perhaps if your fans stopped the vile, sectarian chants, stopped holding up banners supporting murderous, cowardly killers and pay your tax you might, just might get a change of attitude towards your hated club. I shall not hold my breath.

Och, I don't think that will make much difference. This is a club that will remain hated in perpetuity. They really do, fervently, believe this 'we are the people' crap, and that will never change.

[Keith_M]

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Och, I don't think that will make much difference. This is a club that will remain hated in perpetuity. They really do, fervently, believe this 'we are the people' crap, and that will never change.

The right-wing, anti-immigration PEGIDA demonstrators in Germany have a motto, "Wir sind das Volk".

By a strange coinicidence, that translates into English as "We are the People"

[sh00byd00]

Sevco fans and officials like to tell us all that it's Celtic with the victims mentality, but they're the worst by a country mile. For not caring what others think of them, they fairly like to tell anyone who'll listen to them how much they don't care. If they didn't almost all of the perceived anti sevco feeling would pass them by. They care and care a lot.

[magpie1892]

I loved this quote: 'so when teams get one over they celebrate. It doesn’t happen often.' Well, it's happened six times in the league this season for one thing and then there are the exquisite cup exits to:

Raith x3
Alloa - (one win in five against them this season)
Forfar
QOTS

...and all in their first three years of existence. I'd say that's pretty often.

[CropleyWasGod]

http://www.londonstockexchange.com/e.../12299859.html

[grunt]

Rangers release interim results

Rangers International Football Club plc (AIM:RFC), the holding company for the Scottish football Club 'Rangers', is pleased to announce interim results for the six month period to 31 December 2014.

Operational Highlights

· Season ticket sales of 24,589 at period-end
· Average home league attendance of 32,321 during the period; thirteenth highest UK football attendance
· Semi-finalist for QTS Scottish League Cup and Petrofac Training Cup
· Currently placed 3rd in Championship and in play-off spot

Financial Highlights

· Revenue of £13.1m
· Operating expenses of £16.1m
· Profit on disposal of player registrations of £0.2m
· Loss before finance costs of £2.6m
· Finance leases of £0.7m at 31 December 2014

Paul Murray, Interim Chairman of Rangers, commented

"These results are historical and relate to a period before the new Board took office. I wish to draw shareholders' attention to the fact that these interim results have been reviewed by Jeffreys Henry LLP. ‎I have been informed by Deloitte, the existing auditor, that they informed the previous Board of their intention to resign following the June 2014 audit. The previous Board chose not to announce this nor did they find a replacement for Deloitte. With limited time to have these results reviewed the Board asked Jeffreys Henry to perform the exercise as Independent Reporting Accountants, not auditors. They have previously carried out work for the Club and therefore know the finance functions well. The Board will make a further announcement on this subject once we have found a replacement firm for Deloitte.

The new Board's focus is on the future. We are in the process of developing a business and funding plan which will help us rebuild the Club and ensure it enjoys football and commercial success in the future. We will work closely with our shareholders, supporters and other stakeholders to achieve our vision of building a modern football Club founded on our traditional values and standards. The recovery process will take time but if we work closely together we are confident of success."

So the club has neither a NOMAD or an auditor.

[Phil D. Rolls]

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Rangers release interim results

So, they've lost £2.6 m over the last six months?

[grunt]

Barry Anderson ‏@BarryAnderson_4m4 minutes agoContingent liability in #Rangers' accounts: Newcastle Utd must be paid £500k if RFC are promoted this season. Part of loan deal. #NUFC

Grant Russell ‏@STVGrant5m5 minutes ago
The prize money for finishing second in the Championship is £342,000. If Rangers go up, Newcastle United will get all of that. And more

Chris McLaughlin ‏@BBCchrismclaug3m3 minutes ago
No mention of a new NOMAD in the #Rangers statement. Stock exchange says appointment must be made by Thursday pm to avoid delisting

[Ronniekirk]

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http://www.londonstockexchange.com/e.../12299859.html

Still time to appoint nomad. But is it beginning to look like delisting is the plan and if so does this bring advantages for the new board to be more flexible and less accountable going forward ?

[CB_NO3]

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Rangers release interim results



So the club has neither a NOMAD or an auditor.

So what is their debt figure? Or do they not have to announce that till they announce a full years accounts? Pretty sure they ran at a 6 million pound loss last year. Then there is all these extra loans they have had.

[Spike Mandela]

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Still time to appoint nomad. But is it beginning to look like delisting is the plan and if so does this bring advantages for the new board to be more flexible and less accountable going forward ?

In the much publicised new era of transparency it was loudly trumpeted that they had a Nomad lined up though???

The glib and shameless liar wouldn't start the new future with a, errrrm, a lie would he?

[Ronniekirk]

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In the much publicised new era of transparency it was loudly trumpeted that they had a Nomad lined up though???

The glib and shameless liar wouldn't start the new future with a, errrrm, a lie would he?

The word Subterfuge springs to mind

[CropleyWasGod]

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Still time to appoint nomad. But is it beginning to look like delisting is the plan and if so does this bring advantages for the new board to be more flexible and less accountable going forward ?

They are still accountable to their shareholders, of whom MASH is a major one.

[Bostonhibby]

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In the much publicised new era of transparency it was loudly trumpeted that they had a Nomad lined up though???

The glib and shameless liar wouldn't start the new future with a, errrrm, a lie would he?

It's great isn't it? Because he's not Mike Ashley he can tell them anything and they will swallow it, especially when King is currently a demi god with the daily ****** as well. The difference with King is he is openly not doing what he said he'd do and he's got to that point much quicker than his predecessors.

Craig whyte was apparently a billionaire the rangers man and cheeky Charlie was the messiah for a while they all did what they liked because the huns swallow the "the rangers men" propaganda every time.

Anyone see a pattern emerging?

[fat freddy]

I've just heard on the radio that Newcastle are to receive half a million quid if Sevco are promoted. I've read that Mike Ashley is a brilliant businessman and is constantly thinking up new methods of generating cash for his various companies... But this is the work of a genius!! Give Sevco 5 crocks, make them pay a share of their wages despite most of them being very unlikely to kick a ball for them, and then pick up a cool half million in the event of a promotion in which only one of the players would have contributed to...Easy Money....Why didn't Wigan insert a similar clause when we borrowed Fraser Fyvie?

[stokesmessiah]

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I've just heard on the radio that Newcastle are to receive half a million quid if Sevco are promoted. I've read that Mike Ashley is a brilliant businessman and is constantly thinking up new methods of generating cash for his various companies... But this is the work of a genius!! Give Sevco 5 crocks, make them pay a share of their wages despite most of them being very unlikely to kick a ball for them, and then pick up a cool half million in the event of a promotion in which only one of the players would have contributed to...Easy Money....Why didn't Wigan insert a similar clause when we borrowed Fraser Fyvie?

Because we didn't borrow him?

[fat freddy]

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Because we didn't borrow him?

My mistake, I thought we had him on loan.

[Deansy]

'the club would look to exisiting and new investors to secure funding that would sustain the club in the medium and long-term' - MONEY - the ONLY way they know how to 'compete'!! Long forgotten (was it ever known ??) is the actual FOOTBALL side of things !!