Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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I read somewhere 20p per share so it a lot more than that no?

I misread it

It's £5.3m.

Last month's was £3.6m

Still think it's likely to be a debt-swap, as part of the ongoing revamp. (I think I read that, as part of the buy-in, the new guys would be paying off the existing directors' loans. So they will probably buy these "new" shares from those directors.)

Wouldn't it be funny, though, if the whole deal fell apart and these guys were left with the shares instead of the loans?

[Since90+2]

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I misread it

It's £5.3m.

Last month's was £3.6m

Still think it's likely to be a debt-swap, as part of the ongoing revamp. (I think I read that, as part of the buy-in, the new guys would be paying off the existing directors' loans. So they will probably buy these "new" shares from those directors.)

Wouldn't it be funny, though, if the whole deal fell apart and these guys were left with the shares instead of the loans?

They must be pretty confident the deal must be doing through if that's the case?

[CropleyWasGod]

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They must be pretty confident the deal must be doing through if that's the case?

I reckon it's pretty far down the line.

But then, we've been here before. Remember the Blue Knights?

[WeAreHibs]

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I reckon it's pretty far down the line.

But then, we've been here before. Remember the Blue Knights?

They'll be the Black n Blue Knights if it falls through

[CropleyWasGod]

Also just announced on the Companies House website.

The club have lodged notice of a security (dated January) to support a "facility" with Macquarie Bank. There's no mention of the amounts, but it looks as if the security is on instalments still due for players already sold.

[HoboHarry]

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Also just announced on the Companies House website.

The club have lodged notice of a security (dated January) to support a "facility" with Macquarie Bank. There's no mention of the amounts, but it looks as if the security is on instalments still due for players already sold.

I'm not sure what that means, can you explain it in layman terms for this dafties benefit?

[CropleyWasGod]

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I'm not sure what that means, can you explain it in layman terms for this dafties benefit?

It's a bit unclear (that's what lawyers do ), but I think RFC are due money from clubs for player transfers. As is common, those fees are paid in instalments.

It looks as if they have asked this bank to lend them the whole amount of the outstanding fees, rather than wait on the instalments. I'm sure how common that is, but they're probably paying through the (blue) nose for it.

Who did they sell in January, and to whom, and for how much?

[gbhibby]

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It's a bit unclear (that's what lawyers do ), but I think RFC are due money from clubs for player transfers. As is common, those fees are paid in instalments.

It looks as if they have asked this bank to lend them the whole amount of the outstanding fees, rather than wait on the instalments. I'm sure how common that is, but they're probably paying through the (blue) nose for it.

Who did they sell in January, and to whom, and for how much?

Next it will be borrowing against expected income from next year's season tickets sales.

[CropleyWasGod]

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Next it will be borrowing against expected income from next year's season tickets sales.

Is that a thing?

[HoboHarry]

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It's a bit unclear (that's what lawyers do ), but I think RFC are due money from clubs for player transfers. As is common, those fees are paid in instalments.

It looks as if they have asked this bank to lend them the whole amount of the outstanding fees, rather than wait on the instalments. I'm sure how common that is, but they're probably paying through the (blue) nose for it.

Who did they sell in January, and to whom, and for how much?

Zak Lovelace and 4 others out on loan. I'm sticking with the first installments of paying off Clement and his backroom team :)

[CropleyWasGod]

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Zak Lovelace and 4 others out on loan. I'm sticking with the first installments of paying off Clement and his backroom team.

There are invoices mentioned. It looks as if RFC issue the invoices, and the cash is sent to the bank.

The agreement mentions invoices to FCT (FC Twente?). Lammers went there in the summer. Also mentions PC.... not sure who that might be.

[HoboHarry]

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There are invoices mentioned. It looks as if RFC issue the invoices, and the cash is sent to the bank.

The agreement mentions invoices to FCT (FC Twente?). Lammers went there in the summer. Also mentions PC.... not sure who that might be.

I'm not sure if you're being serious about PC or not, but either way they have something sizeable to pay imminently unless my thinking is upside down

[CropleyWasGod]

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I'm not sure if you're being serious about PC or not, but either way they have something sizeable to pay imminently unless my thinking is upside down

I am. (and just realised the ambiguity of those letters )

As I read it, RFC are to issue invoices to "PC" , and the payment for those invoices is to go to the bank.

So, if FCT is FC Twente (for Lammers), who are PC?

If I'm right about that process, it could be that you're also right in their needing money now-ish to pay the other PC.

[HoboHarry]

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I am. (and just realised the ambiguity of those letters )

As I read it, RFC are to issue invoices to "PC" , and the payment for those invoices is to go to the bank.

So, if FCT is FC Twente (for Lammers), who are PC?

If I'm right about that process, it could be that you're also right in their needing money now-ish to pay the other PC.

Not sure who PC would be if it refers to a football club, could it be an outside agency of some other sort that owes them money?

[CropleyWasGod]

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Not sure who PC would be if it refers to a football club, could it be an outside agency of some other sort that owes them money?

Parma Calcio?. Colak in 2023.

[007]

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I am. (and just realised the ambiguity of those letters )

As I read it, RFC are to issue invoices to "PC" , and the payment for those invoices is to go to the bank.

So, if FCT is FC Twente (for Lammers), who are PC?

If I'm right about that process, it could be that you're also right in their needing money now-ish to pay the other PC.

Philippe Clement.

[CropleyWasGod]

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Philippe Clement.

RFC won't be invoicing him. If anything, it's the other way round.

[HoboHarry]

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Parma Calcio?. Colak in 2023.

Good spot, that's perfectly possible.

[CropleyWasGod]

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Good spot, that's perfectly possible.

It's a guess, and I had help

[007]

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RFC won't be invoicing him. If anything, it's the other way round.

Ah, apologies, I was just going off you last sentence but I see now it's another PC you're meaning.

[HoboHarry]

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I am. (and just realised the ambiguity of those letters )

As I read it, RFC are to issue invoices to "PC" , and the payment for those invoices is to go to the bank.

So, if FCT is FC Twente (for Lammers), who are PC?

If I'm right about that process, it could be that you're also right in their needing money now-ish to pay the other PC.

Not to mention Alex Rae and the other one who got canned. This will just be the first payment too, there'll be more to come methinks.

[CropleyWasGod]

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Ah, apologies, I was just going off you last sentence but I see now it's another PC you're meaning.

Too many PC's for the most un-PC of clubs

[HoboHarry]

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I misread it

It's £5.3m.

Last month's was £3.6m

Still think it's likely to be a debt-swap, as part of the ongoing revamp. (I think I read that, as part of the buy-in, the new guys would be paying off the existing directors' loans. So they will probably buy these "new" shares from those directors.)

Wouldn't it be funny, though, if the whole deal fell apart and these guys were left with the shares instead of the loans?

This part has me a little baffled - if the nominal share price is 0.01 (as reported elsewhere) but the directors are voluntarily paying 0.2p per share of their own free will, why would potential new partners be mug enough to pay the same over valued cost just so the existing lot got their money back?

[Hibs4185]

To sum up the last few posts, it’s either boom (49ers deal) or bust (sevco2025)?

Please please please let the 49ers story be a red herring to appease the masses

Just to add, I’m being biased, but any investor buying wil see all these loans and share issues during any due diligence and even a diehard blue nose can see a very distressed asset.

No way the 49ers are paying anywhere near what the whordes want if the story is true

[HoboHarry]

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To sum up the last few posts, it’s either boom (49ers deal) or bust (sevco2025)?

Please please please let the 49ers story be a red herring to appease the masses

Just to add, I’m being biased, but any investor buying wil see all these loans and share issues during any due diligence and even a diehard blue nose can see a very distressed asset.

No way the 49ers are paying anywhere near what the whordes want if the story is true

I said earlier in the thread that this whole deal smells of s***e to me and I stand by that. That's the total number of existing Rangers shares at 522,223,088. At .2p per share that values Rangers at more than 106M which is clearly nonsense though I know the potential new owners wouldn't be likely to buy all of the shares, just enough to have a controlling interest. The new owners would also have to finance rebuilding the team as well as bringing Ibrox back to what it should be structurally. I doubt I'll lose any sleep if I'm wildly wrong but I'll be a little surprised if the deal goes through.

[Keith_M]

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To sum up the last few posts, it’s either boom (49ers deal) or bust (sevco2025)?

Please please please let the 49ers story be a red herring to appease the masses

Just to add, I’m being biased, but any investor buying wil see all these loans and share issues during any due diligence and even a diehard blue nose can see a very distressed asset.

No way the 49ers are paying anywhere near what the whordes want if the story is true

The SMSM have been guilty of fabricating 'good news stories' in the past, but the owner of 49ers has been at (at least) one of their games, so there might actually be something to this one

[JeMeSouviens]

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The SMSM have been guilty of fabricating 'good news stories' in the past, but the owner of 49ers has been at (at least) one of their games, so there might actually be something to this one

There might be. American owners tend not to be in the game for the sort of sentimental reasons that's seen Douglas Park and chums plough tens of millions in to keep the New Huns afloat though. So even if it comes off I'm not convinced there'll be anything like the "investment" the Huns (with and without laptops) are expecting.

[Keith_M]

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There might be. American owners tend not to be in the game for the sort of sentimental reasons that's seen Douglas Park and chums plough tens of millions in to keep the New Huns afloat though. So even if it comes off I'm not convinced there'll be anything like the "investment" the Huns (with and without laptops) are expecting.

I wonder if there'll be a Man Utd style takeover, with Rangers being loaded with even more debt.

[Blaster]

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There might be. American owners tend not to be in the game for the sort of sentimental reasons that's seen Douglas Park and chums plough tens of millions in to keep the New Huns afloat though. So even if it comes off I'm not convinced there'll be anything like the "investment" the Huns (with and without laptops) are expecting.

According to Souness, Leeds will become Rangers feeder club 😂

[HoboHarry]

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According to Souness, Leeds will become Rangers feeder club 😂

Souness shouldn't be allowed out on his own if he believes that. FFS.