Generic Sevco / Rangers meltdown thread

***Bostonhibby*** · 10-06-2015 03:55 PM

Originally Posted by Ozyhibby

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If they have to pay back Ashley then the next 12,500 adult season tickets will be needed to cover that.

It's okay, King is a multi millionaire who variously says he is going to put up £20m, £30m, £40m or £50m and he had a nomad lined up thus making the business look a little bit more credible than it does without one - that's all before you take into account his plan to "over invest".

He's the man for the job.

***Hibby70*** · 10-06-2015 03:56 PM

Originally Posted by NAE NOOKIE

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WINTER IS COMING

More the Orange Walkers than the White walkers.

(Apologies to non GoT fans)

***Jim44*** · 10-06-2015 04:02 PM

All joking aside, if King and his cronies are dripping in cash and ready to invest millions into their club, why don't they bite the bullet and get shot of Ashley for what, by their standards and financial intention,s is a drop in the ocean?

**PatHead** · 10-06-2015 04:04 PM

So according to Ashley the simple solution is to repay the £5m he gave as a short term loan then security is released and they go to a 51%/49% relationship on goods profit. Can see where he is coming from.

What could King's problem be?

***grunt*** · 10-06-2015 04:05 PM

Originally Posted by JeMeSouviens

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Full statement from Ashley now up:

http://www.dailyrecord.co.uk/sport/f...VLFNrlq0sl76rs

Ooft!

Indeed.

Originally Posted by MASH

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The key question is when exactly did this happen and what steps did the New Board take as part of normal contingency planning to consider alternative NOMADs and engage with the AIM Regulator so as to ensure that the AIM listing was preserved?

I'd have thought the key question was, what did the NOMAD see that made them decide against working for RIFC?

***Bostonhibby*** · 10-06-2015 04:06 PM

Originally Posted by Jim44

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All joking aside, if King and his cronies are dripping in cash and ready to invest millions into their club, why don't they bite the bullet and get shot of Ashley for what, by their standards and financial intention,s is a drop in the ocean?

A track record of not paying their way? unless they have to to avoid going to jail

***Keith_M*** · 10-06-2015 04:12 PM

Originally Posted by Jim44

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All joking aside, if King and his cronies are dripping in cash and ready to invest millions into their club, why don't they bite the bullet and get shot of Ashley for what, by their standards and financial intention,s is a drop in the ocean?

That was my thought as well.

King could Loan the Club 5M, interest free. They could use it to pay off Ashley, thus benefiting from an increased percentage of Retail Sales. King gets paid back when the Club have the money.

Not a problem to a Billionaire like King, surely.

***jacomo*** · 10-06-2015 04:26 PM

Originally Posted by Jim44

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All joking aside, if King and his cronies are dripping in cash and ready to invest millions into their club, why don't they bite the bullet and get shot of Ashley for what, by their standards and financial intention,s is a drop in the ocean?

Especially as it would bring about an immediate improvement in retail income. Honestly, I know it sounds weird, but I do sometimes wonder if these Rangers owners are quite as keen to put in their own money as they claim!

***s.a.m*** · 10-06-2015 05:20 PM

Keith Downie‏@SkySports_Keith 4m4 minutes ago BREAKING: Mike Ashley has relinquished his position on the Newcastle board along with Finance Director John Irving, who is leaving the club.

***s.a.m*** · 10-06-2015 05:23 PM

Neal Walker‏@SkyWalker_Neal 3m3 minutes ago New #NUFC boss Steve McClaren joins the club's Board, along with Graham Carr and Bob Moncur. Only PL boss to also sit on his club's board.

***Just Alf*** · 10-06-2015 05:48 PM

Originally Posted by keekaboo

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That was my thought as well.

King could Loan the Club 5M, interest free. They could use it to pay off Ashley, thus benefiting from an increased percentage of Retail Sales. King gets paid back when the Club have the money.

Not a problem to a Billionaire like King, surely.

Agreed....

I'm totally flummoxed

I just CAN'T think of a reason why he'd not stump up the dosh to make things all nice and lovely financially with Der Hun....

***Spike Mandela*** · 10-06-2015 06:12 PM

Originally Posted by JeMeSouviens

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Full statement from Ashley now up:

http://www.dailyrecord.co.uk/sport/f...VLFNrlq0sl76rs

Ooft!

Ashley making the obvious staement about the delisting and yet one the succulent lamb brigade haven't mentioned or intimated once.

**Onion** · 10-06-2015 07:05 PM

Originally Posted by Jim44

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All joking aside, if King and his cronies are dripping in cash and ready to invest millions into their club, why don't they bite the bullet and get shot of Ashley for what, by their standards and financial intention,s is a drop in the ocean?

Exactly, and they secure the brands, training ground etc etc. The revenue from retail sales must be horrendous if the Hun Board are not interested to increasing their stake from 25% to 51% (on repayment). The Hun fiasco keeps giving and giving

***Spike Mandela*** · 10-06-2015 07:36 PM

Sports Direct V Rangers international football club in Chancery court tomorrow under Applications.....

https://www.justice.gov.uk/courts/co...hancery-judges

Any legal minds on here explain?

**Mikey09** · 10-06-2015 08:04 PM

Originally Posted by PatHead

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So according to Ashley the simple solution is to repay the £5m he gave as a short term loan then security is released and they go to a 51%/49% relationship on goods profit. Can see where he is coming from.

What could King's problem be?

And that is the million dollar question! Everyone knows the simple solution for King is to pay Ashley his dough and that's that... He's got the cash and he's a The Rangers man... So what's the problem??

***Ozyhibby*** · 10-06-2015 08:13 PM

Originally Posted by Spike Mandela

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Sports Direct V Rangers international football club in Chancery court tomorrow under Applications.....

https://www.justice.gov.uk/courts/co...hancery-judges

Any legal minds on here explain?

I'm not a legal eagle but I would take a guess that he wants the first £5m of season ticket money ring fenced until they pay him back?

***Jack*** · 10-06-2015 08:26 PM

Originally Posted by grunt

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Indeed.

I'd have thought the key question was, what did the NOMAD see that made them decide against working for RIFC?

The Lying King.

***Jim44*** · 10-06-2015 09:13 PM

Originally Posted by Mikey09

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And that is the million dollar question! Everyone knows the simple solution for King is to pay Ashley his dough and that's that... He's got the cash and he's a The Rangers man... So what's the problem??

How do you know he has the cash? We know he is a convicted criminal in financial matters and there will always be suspicion till he shows the colour of his money. The bulk of the Sevco support think he is the Messiah, but some of the brighter ones, the ones with two ears and two eyes, are sniffing a wee rat. They might be strong bookie's favourites to win the Championship next year, but I think, deep down, they will be fragile and there for the taking, if we can keep a decent squad together.

**portycabbage** · 10-06-2015 09:42 PM

Originally Posted by Spike Mandela

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Sports Direct V Rangers international football club in Chancery court tomorrow under Applications.....

https://www.justice.gov.uk/courts/co...hancery-judges

Any legal minds on here explain?

You may have requested legal minds, but here's a sevco guy in the DR instead-

http://www.dailyrecord.co.uk/sport/f...-court-5859827

p.s. There'll be a few chancers in Chancery if King and Ashley are involved!

**Mikey09** · 10-06-2015 09:49 PM

Originally Posted by Jim44

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How do you know he has the cash? We know he is a convicted criminal in financial matters and there will always be suspicion till he shows the colour of his money. The bulk of the Sevco support think he is the Messiah, but some of the brighter ones, the ones with two ears and two eyes, are sniffing a wee rat. They might be strong bookie's favourites to win the Championship next year, but I think, deep down, they will be fragile and there for the taking, if we can keep a decent squad together.

I really do think he has the cash. If I'm wrong I'll piss myself laughing like the rest of us though!!

***Jim44*** · 10-06-2015 10:37 PM

Originally Posted by Mikey09

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I really do think he has the cash. If I'm wrong I'll piss myself laughing like the rest of us though!!

Anyone who has lost, criminally, £44m, must be a nervous wreck at the prospect of bank rolling a white elephant of a football club. I bet he's not getting 8 hours sleep a night.

***Newry Hibs*** · 11-06-2015 07:38 AM

Originally Posted by JeMeSouviens

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Full statement from Ashley now up:

http://www.dailyrecord.co.uk/sport/f...VLFNrlq0sl76rs

Ooft!

Though what Ashley is forgetting is that King is actually a fit and proper person. The SFA said so (or was it the SPFL).

***Moulin Yarns*** · 11-06-2015 09:14 AM

Originally Posted by s.a.m

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Keith Downie‏@SkySports_Keith 4m4 minutes ago BREAKING: Mike Ashley has relinquished his position on the Newcastle board along with Finance Director John Irving, who is leaving the club.

I'm surprised not more has been made of this. What are the reasons behind it, unless he is looking for a tighter control at the Rangers? No more 'dual interests'.

***Keith_M*** · 11-06-2015 09:26 AM

Originally Posted by Golden Fleece

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I'm surprised not more has been made of this. What are the reasons behind it, unless he is looking for a tighter control at the Rangers? No more 'dual interests'.

I can't see how he could do that with only 9% shareholding.

***CropleyWasGod*** · 11-06-2015 09:27 AM

Originally Posted by Golden Fleece

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I'm surprised not more has been made of this. What are the reasons behind it, unless he is looking for a tighter control at the Rangers? No more 'dual interests'.

He still has the dual interests. He is only stepping back from the Board at Newcastle.

***Moulin Yarns*** · 11-06-2015 09:40 AM

Originally Posted by CropleyWasGod

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He still has the dual interests. He is only stepping back from the Board at Newcastle.

cheers, us plebs don't understand the complexities of boardrooms. Shares are things you get on a plate in a pub.

**truehibernian** · 11-06-2015 09:43 AM

Originally Posted by CropleyWasGod

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He still has the dual interests. He is only stepping back from the Board at Newcastle.

I think we exchanged messages a couple of months back CWG but I still think Ashley is/has played an absolute blinder here - he's very astute and sharp in my opinion the way he has held his cards until the 'showdown'.

The Ibrox hordes are starting to turn a little on King - slowly but it's gathering momentum. There has not been much anti-Ashley / Sports Direct sentiment, even on their forums. As it stands he knows that there is still a large large groundswell of 'blind faith' fans who will buy the new shirts and merchandise. He also has a £5 million 'noose' around the Ibrox neck........and a shareholding.

With them having to pay off McCoist, also Alexander's tribunal loss, and a possible £5 million debt to Ashley - no wonder King has beads of sweat on his brow - regardless of how many season tickets are sold, that could account for half the anticipated player budget. McCall and his backroom would have cost a wedge too.

If King pays back Ashley - fans will ask, whose money was used - theirs of King's. Ashley as I said, I think, has played (and is playing) a blinder.

Asides that £5 million loan, how much do you reckon it would take to buy out Ashley's stake in The Rangers (shareholding and retail share) ?

***jacomo*** · 11-06-2015 09:57 AM

Originally Posted by CropleyWasGod

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He still has the dual interests. He is only stepping back from the Board at Newcastle.

He still has absolute control at Newcastle, and has now committed to stay there until they 'win something'... Could be a very long time.

I've never been convinced that Ashley wanted to take control of Rangers. I think he saw a good opportunity to run their retail operation and did a favourable deal with Charles Green. He probably thought their inevitable rise back to the top division would lead to easy profits, but when things went wrong he then became a bigger investor to protect his interests.

He is now - with just 9% - holding a very strong hand. The idea that Dave King can renegotiate a more favourable deal looks a bit fanciful, unless he can back that up with a large wedge of cash.