Generic Sevco / Rangers meltdown thread

[jacomo]

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He doesn't say admin is on the cards, just that they are running out of cash.
Admin can be prevented by someone putting in a big chunk of cash.
Do you think Mike Ashley will put up the dough?


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Running out of cash = admin... unless, as you say, someone puts money in.

It could be that King et al DO have more cash, but won't put any in unless they absolutely have to.

Ashley certainly could bail them out again if he wants to, but has an incentive to wait until they are begging him for money before doing so.

Who knows?

[JeMeSouviens]

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Running out of cash = admin... unless, as you say, someone puts money in.

It could be that King et al DO have more cash, but won't put any in unless they absolutely have to.

Ashley certainly could bail them out again if he wants to, but has an incentive to wait until they are begging him for money before doing so.

Who knows?

My money would be on Ashley re-taking control by the short'n'curlies. He's spent enough time and money on it, so he must see some return to be made there.

[Jim44]

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Running out of cash = admin... unless, as you say, someone puts money in.

It could be that King et al DO have more cash, but won't put any in unless they absolutely have to.

Ashley certainly could bail them out again if he wants to, but has an incentive to wait until they are begging him for money before doing so.

Who knows?

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My money would be on Ashley re-taking control by the short'n'curlies. He's spent enough time and money on it, so he must see some return to be made there.

Ashley will bail them out if he has to as his interests in Sevco are only of value if the club is alive and flourishing. If he has to go to Ashley cap in hand, Kng won't like it as he will lose face with the fans, but any port in a storm as they say.

[greenginger]

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My money would be on Ashley re-taking control by the short'n'curlies. He's spent enough time and money on it, so he must see some return to be made there.

Ashley can't take control. he has already been fined by the SFA for duel control of football clubs.

His £ 5 million loan is secured on some of the club property assets and his interests in Rangers Retail will prevail through administration or liquidation of the football club.

The only source of cash are the rangers support , or as Vlad so accurately referred to them as the " Simple Fans "

[Ozyhibby]

Even liquidation does not get rid of Ashley as he has the intellectual property rights and security over everything except Ibrox.


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[JeMeSouviens]

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Ashley can't take control. he has already been fined by the SFA for duel control of football clubs.

His £ 5 million loan is secured on some of the club property assets and his interests in Rangers Retail will prevail through administration or liquidation of the football club.

The only source of cash are the rangers support , or as Vlad so accurately referred to them as the " Simple Fans "

He can't take a majority shareholding.

[Hibee87]

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He can't take a majority shareholding.

This might sound to easy, but could he not sell Newcastle to his 'friend' (insert name) then be the major shareholder in rangers, do as he wishes, then sell them on and re buy newcastle form his 'friend'?

[greenginger]

Ashley is not a Rangers supporter. He will be quite happy to wait and let the rangers people sort things out even if it takes a few more seasons.

As long as there are people kicking a ball and calling themselves Rangers , there will be a market for his merchandise.

[Ozyhibby]

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This might sound to easy, but could he not sell Newcastle to his 'friend' (insert name) then be the major shareholder in rangers, do as he wishes, then sell them on and re buy newcastle form his 'friend'?

There are very strict laws about that sort of thing.


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[Ozyhibby]

@sitonfence: Friday 16th October

Preliminary Hearing

CA196/15 Charles Green v The Rangers International Football Club Plc


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[greenginger]

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@sitonfence: Friday 16th October

Preliminary Hearing

CA196/15 Charles Green v The Rangers International Football Club Plc


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http://www.sfm.scot/the-case-for-a-n...e-7/?cid=19782

Being suggested it has been moved to Edinburgh as all seven will be pleading guilty to the charges in return for shorter sentences.

That could prove an immediate problem for Sevco. Money was raised on the Stock Exchange by fraud. The Exchange can petition for immediate liquidation of the defrauding entity.

[Ozyhibby]

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http://www.sfm.scot/the-case-for-a-n...e-7/?cid=19782

Being suggested it has been moved to Edinburgh as all seven will be pleading guilty to the charges in return for shorter sentences.

That could prove an immediate problem for Sevco. Money was raised on the Stock Exchange by fraud. The Exchange can petition for immediate liquidation of the defrauding entity.

I would be amazed if one of them plead guilty never mind all of them. I would rather have the long trial with lots of laundry getting washed in public and the outing of the involvement of the SFA.


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[MrSmith]

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I would be amazed if one of them plead guilty never mind all of them. I would rather have the long trial with lots of laundry getting washed in public and the outing of the involvement of the SFA.


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Me too!

[KeithTheHibby]

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Ashley is not a Rangers supporter. He will be quite happy to wait and let the rangers people sort things out even if it takes a few more seasons.

As long as there are people kicking a ball and calling themselves Rangers , there will be a market for his merchandise.

This. On the park the club is on the up, which in turn means more sales of strips etc.

Off the park who knows however his security will mean he won't lose much if anything at all if it all goes tits up.

[greenginger]

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I would be amazed if one of them plead guilty never mind all of them. I would rather have the long trial with lots of laundry getting washed in public and the outing of the involvement of the SFA.


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Exactly why the Establishment would want a guilty plea.

Of course it would depend on the case and evidence against each individual , but the alternative of 10 years in the Bar-L or 2 years say in a cosy jail and parole after 9 months could be attractive to the accused.

[CropleyWasGod]

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Even liquidation does not get rid of Ashley as he has the intellectual property rights and security over everything except Ibrox.


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Liquidation would get rid of the security, whether or not he was repaid.

As for the IP rights, not sure they would be worth much if the club didn't exist any more :)

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[Ozyhibby]

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Liquidation would get rid of the security, whether or not he was repaid.

As for the IP rights, not sure they would be worth much if the club didn't exist any more :)

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Wouldn't that be nice.


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[Ozyhibby]

https://johnjamessite.wordpress.com/...perfect-storm/


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[lucky]

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https://johnjamessite.wordpress.com/...perfect-storm/


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Sadly that site just spouts pish on Rangers but it would be funny if they were liquidated

[steakbake]

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Sadly that site just spouts pish on Rangers but it would be funny if they were liquidated

It'd be quality. Though somehow, I think the SFA would conspire a fudge to prevent the ethereal holding company from having to reapply for membership of the leagues for their separate entity (the club) and to make sure they end up "back where they belong" in the SPL.

Especially because we're all too aware that the last time that happened, the requirements for admission to the leagues were completely overlooked.

[steakbake]

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Liquidation would get rid of the security, whether or not he was repaid.

As for the IP rights, not sure they would be worth much if the club didn't exist any more :)

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I don't know - another phoenix club and the devil is in the detail: does Ashley hold the rights to the "Rangers" brand? Could it be that no matter what happens, any club calling itself Rangers (The Rangers, The The Rangers, Rangers 2015 etc) would come under the IP that Ashley holds?

To be honest, they gave Cheerful Charlie a carte blanche to chalk up any future legal fees to the club. It wouldn't surprise me in the slightest if they mortgaged off their identity in exchange for a few million from Ashley.

Mugs. hahahah

[Jack]

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https://johnjamessite.wordpress.com/...perfect-storm/


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There was chat a while ago about insurance to cover this sort of thing. Was the have they got it or not question ever answered?

[steakbake]

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There was chat a while ago about insurance to cover this sort of thing. Was the have they got it or not question ever answered?

Judging by how the MSM generally softball all things (The) Rangers, I think the real question is, has the question ever asked and has anyone ever really been pressed for an answer?

[HoboHarry]

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Sadly that site just spouts pish on Rangers but it would be funny if they were liquidated

In what respect are his comments @@@@? He is simply giving his opinions like anyone else has the right too. Personally I find him and Phil Mac a refreshing change from the mainstream media who are not even attempting to perform their duties or are too scared to publish what they know or think.

There is no obligation to believe everything you read - but there is enough information out there to be able to form your opinions.

[jacomo]

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In what respect are his comments @@@@? He is simply giving his opinions like anyone else has the right too. Personally I find him and Phil Mac a refreshing change from the mainstream media who are not even attempting to perform their duties or are too scared to publish what they know or think.

There is no obligation to believe everything you read - but there is enough information out there to be able to form your opinions.

Well, for one thing, he says a 25 point deduction won't harm their chances of automatic promotion.

I appreciate we are behind them in the League, but 25 points?

[HoboHarry]

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Well, for one thing, he says a 25 point deduction won't harm their chances of automatic promotion.

I appreciate we are behind them in the League, but 25 points?

Completely agree with you on that, my questions were more about the financial side and I realize I wasn't very clear on that. I also think he is supremely optimistic that someone with more money will take Kings place. How did that work out the last time? 😉

[jacomo]

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Completely agree with you on that, my questions were more about the financial side and I realize I wasn't very clear on that. I also think he is supremely optimistic that someone with more money will take Kings place. How did that work out the last time? 😉

No I did get that, it's just that particular line made me question how accurate any of his musings might be.

I think his estimated 8 figure legal costs might be fanciful, too. He's just taken top end daily rates and extrapolated them over a long time period - I'm not sure that's particularly reliable.

[HoboHarry]

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No I did get that, it's just that particular line made me question how accurate any of his musings might be.

I think his estimated 8 figure legal costs might be fanciful, too. He's just taken top end daily rates and extrapolated them over a long time period - I'm not sure that's particularly reliable.

Agreed but at least we have a self confessed Rangers man questioning and being critical of the club which is an awful lot more than the cowards in the press are doing. CWG has already picked holes in his figures but then who really knows the whole truth of what's going on there?

[Ozyhibby]

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I don't know - another phoenix club and the devil is in the detail: does Ashley hold the rights to the "Rangers" brand? Could it be that no matter what happens, any club calling itself Rangers (The Rangers, The The Rangers, Rangers 2015 etc) would come under the IP that Ashley holds?

To be honest, they gave Cheerful Charlie a carte blanche to chalk up any future legal fees to the club. It wouldn't surprise me in the slightest if they mortgaged off their identity in exchange for a few million from Ashley.

Mugs. hahahah

Ashley owns the name Rangers, the badges, strip designs and even Broxi Bear. Rangers have the right to buy them back if they pay back the £5m but if there is admin then they won't even be part of the CVA process.
Their next saviour will need to go speak to big mike.


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[Ozyhibby]

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No I did get that, it's just that particular line made me question how accurate any of his musings might be.

I think his estimated 8 figure legal costs might be fanciful, too. He's just taken top end daily rates and extrapolated them over a long time period - I'm not sure that's particularly reliable.

His figures do look a touch expensive even for lawyers. Thankfully a fraction of that figure would be enough to sink them.


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