The Rangers soap opera goes on and on.

[Glamorgan Jambo]

Are they really up shit creek or are the majority of the posters on this thread just in a state of fevered hopefulness ? The reason I ask is that not one person posting on this thread, to my knowledge, has invested one penny in the enterprise. However a man who it is said has made him self many millions of pounds through astute investments has put more than three million pounds into the enterprise. Is he just a **** or does he know more about things than anybody on here dares think? For a club that was staring down the barrel a few months back we seem to have very little thoughts for the fans of this club, yes we know they are vile, bigoted and the scum of the earth but none the less they still have feelings for their club. This club was the remains of a badly run company unfortunately for the fans the same thing has happened again pronto... it is not their fault is it?

 

The same guy has security over his  ?3M loans and has the most valuable and profitable income stream - retailing tat to the Orc hordes - totally under his control. Oh and the retail venture buys almost all its tat from the same guys other company. He's coining it in already regardless of what happens.

[2NaFish]

Are they really up shit creek or are the majority of the posters on this thread just in a state of fevered hopefulness ? The reason I ask is that not one person posting on this thread, to my knowledge, has invested one penny in the enterprise. However a man who it is said has made him self many millions of pounds through astute investments has put more than three million pounds into the enterprise. Is he just a **** or does he know more about things than anybody on here dares think? For a club that was staring down the barrel a few months back we seem to have very little thoughts for the fans of this club, yes we know they are vile, bigoted and the scum of the earth but none the less they still have feelings for their club. This club was the remains of a badly run company unfortunately for the fans the same thing has happened again pronto... it is not their fault is it?

 

First off, **** their fans.

 

Secondly, Ashley has started accumulating assets for when the club goes tits up. If the club is fine he has hived off areas of the business, if they go under he gets, an increasing amount of property, and has areas of the business hived off. Either way he's golden. Far from being evidence that the club is fine, Ashley's involvement highlights how money invested at the correct time can be even more valuable when the shit hits the fan.

[Rabbie_Burns]

Charles Green ?715,526 amazing scenes that he was paid that.

Worth every t'penny as well ;-)

[...a bit disco]

Charles Green ?715,526 amazing scenes that he was paid that.

You can buy a lot of black pudding for that sort of money.

[i wish jj was my dad]

Are they really up shit creek or are the majority of the posters on this thread just in a state of fevered hopefulness ? The reason I ask is that not one person posting on this thread, to my knowledge, has invested one penny in the enterprise. However a man who it is said has made him self many millions of pounds through astute investments has put more than three million pounds into the enterprise. Is he just a **** or does he know more about things than anybody on here dares think? For a club that was staring down the barrel a few months back we seem to have very little thoughts for the fans of this club, yes we know they are vile, bigoted and the scum of the earth but none the less they still have feelings for their club. This club was the remains of a badly run company unfortunately for the fans the same thing has happened again pronto... it is not their fault is it?

Aye.  I've completely reconsidered my opinion on their fans.

 

It's not their fault that a succession of arrogant arseholes spunked hundreds of millions of pounds against a wall because 'they deserve better'. Nor did they lap it all up and think it was their god given right as RaPeepul to break every moral and probably legal rule in the book and piss all over the diddy clubs.

 

And when the shit hit the fan they took it on the chin and never blamed anybody else.  they just got on with it, saved their club and allowed Ally and co to carry out a route and branch re-structuring so that they could build a talented young squad which lived well within its means as they battled their way through the leagues.

 

And to top it off, they got right behind their young laddies on Saturday despite the set back of getting played off the park by a much more experienced side that probably has 5 or 10x their budget. 

 

They're just like us though, aren't they?

[jock _turd]

First off, **** their fans.

 

Secondly, Ashley has started accumulating assets for when the club goes tits up. If the club is fine he has hived off areas of the business, if they go under he gets, an increasing amount of property, and has areas of the business hived off. Either way he's golden. Far from being evidence that the club is fine, Ashley's involvement highlights how money invested at the correct time can be even more valuable when the shit hits the fan.

 

So you are just hopeful then? Caveat to all this money he is going to make the club has to go forward (the real estate he has bought barely covers what he has paid out) ... to go forward it will need investment? Who is going to make this investment? The fans will desert this club if it does not make the top league this year how much is he going to have to put in to turn a profit?

[2NaFish]

So you are just hopeful then? Caveat to all this money he is going to make the club has to go forward (the real estate he has bought barely covers what he has paid out) ... to go forward it will need investment? Who is going to make this investment? The fans will desert this club if it does not make the top league this year how much is he going to have to put in to turn a profit?

 

 

Just hopeful? Predicting the future is beyond me, but the available evidence says that solvent or insolvent Ashley will bleed the club. Hopeful, in a world without cast iron guarantees, about covers it.

 

For the club to go forward it doesnt need investment, it needs to scale back its costs until it can get back to some level of european football.

 

Your last point makes the assumption that Ashley intends to make money out of rangers profits. I'd say that is to miss the point. He wants to hive off the profit making areas for himself; the club can effectively go hang.

Edited November 27, 2014 by 2NaFish

[wibble]

Are they really up shit creek or are the majority of the posters on this thread just in a state of fevered hopefulness ? The reason I ask is that not one person posting on this thread, to my knowledge, has invested one penny in the enterprise. However a man who it is said has made him self many millions of pounds through astute investments has put more than three million pounds into the enterprise. Is he just a **** or does he know more about things than anybody on here dares think? For a club that was staring down the barrel a few months back we seem to have very little thoughts for the fans of this club, yes we know they are vile, bigoted and the scum of the earth but none the less they still have feelings for their club. This club was the remains of a badly run company unfortunately for the fans the same thing has happened again pronto... it is not their fault is it?

I've explained what I believe Ashley is doing and its not good for The Rangers. It may help set up a sustainable v3 though.

As for the fans, I really do feel for them. I feel unbridled glee at the way they have maintained a strong grip on their deluded feelings of entitlement and have swallowed stories about war chests and the return of champions league football. They deserve all of this chaos and more.

[colinmaroon]

Aye.  I've completely reconsidered my opinion on their fans.

 

It's not their fault that a succession of arrogant arseholes spunked hundreds of millions of pounds against a wall because 'they deserve better'. Nor did they lap it all up and think it was their god given right as RaPeepul to break every moral and probably legal rule in the book and piss all over the diddy clubs.

 

And when the shit hit the fan they took it on the chin and never blamed anybody else.  they just got on with it, saved their club and allowed Ally and co to carry out a route and branch re-structuring so that they could build a talented young squad which lived well within its means as they battled their way through the leagues.

 

And to top it off, they got right behind their young laddies on Saturday despite the set back of getting played off the park by a much more experienced side that probably has 5 or 10x their budget. 

 

They're just like us though, aren't they?

 

 

Last night I was driving the courtesy car from the garage and it was tuned into Clyde as I switched on the radio.  Immediately, A. Hun came on the phone in and went on and on about the millions that Ashley is going to have to spend to get them competitive with Celtic.

 

It's obvious that the penny still has not dropped and their delusions of grandeur persist.

 

2/3 minutes of that stuff with the creeps in the studio trying to act as if this was a serious discussion.

 

They're still telling the Emperor he's got his clothes on!

Edited November 27, 2014 by colinmaroon

[jock _turd]

Aye.  I've completely reconsidered my opinion on their fans.

 

It's not their fault that a succession of arrogant arseholes spunked hundreds of millions of pounds against a wall because 'they deserve better'. Nor did they lap it all up and think it was their god given right as RaPeepul to break every moral and probably legal rule in the book and piss all over the diddy clubs.

 

And when the shit hit the fan they took it on the chin and never blamed anybody else.  they just got on with it, saved their club and allowed Ally and co to carry out a route and branch re-structuring so that they could build a talented young squad which lived well within its means as they battled their way through the leagues.

 

And to top it off, they got right behind their young laddies on Saturday despite the set back of getting played off the park by a much more experienced side that probably has 5 or 10x their budget. 

 

They're just like us though, aren't they?

Well look I don't know if you are really thinking straight here a lot of their fans did put their own money up in that initial share issue... they were done. As to restructuring don't blame the fans for having a board that could care less about what happened as long as they were getting there bung and don't blame them for having a manager that is inept! Hearts fans put their hands into their pockets because there was know real alternative and time was against us... you know that and so do I. What Vlad did to us was no different to what has happened to them and yet in some way our fans who welcomed Vlad are in some way different to "them"... by the way I was a Vlad sheep some of the best footballers ever to wear the jersey and we are unlikely to see better for many a long year.... don't tell me these boys are anywhere near that level they would not get a sniff end of.

t

But that is not the issue here the issue is that there are a few on here that can't wait for another Scottish football team to go bust... it defies logic!

[Dalstonjambo]

Well look I don't know if you are really thinking straight here a lot of their fans did put their own money up in that initial share issue... they were done. As to restructuring don't blame the fans for having a board that could care less about what happened as long as they were getting there bung and don't blame them for having a manager that is inept! Hearts fans put their hands into their pockets because there was know real alternative and time was against us... you know that and so do I. What Vlad did to us was no different to what has happened to them and yet in some way our fans who welcomed Vlad are in some way different to "them"... by the way I was a Vlad sheep some of the best footballers ever to wear the jersey and we are unlikely to see better for many a long year.... don't tell me these boys are anywhere near that level they would not get a sniff end of.

t

But that is not the issue here the issue is that there are a few on here that can't wait for another Scottish football team to go bust... it defies logic!

A club that spent beyond its means for years which affected all clubs as we all spent more due to an artificially inflated market.

 

Then following liquidation the new club and the majority of their fans showed no remorse, no hint of learning lessons and incredible arrogance. All this 'we need x million to compete with Celtic' sh1te is disgusting.

 

You are damn right I want them gone again.

 

As for your 'no-one knows what happens' comment. No, not definitely, but read what the auditors are saying. They need huge funds just to make it through the season. It's logical they are in massive trouble. The auditor can't say they are goosed, but by god they've implied it.

[JamboGraham]

A club that spent beyond its means for years which affected all clubs as we all spent more due to an artificially inflated market.

This is a fact that should never be overlooked. The insane over inflation of the game in Scotland during the very late 80's and the 90's was driven by one club and one club alone. Yes, rival club owners were naive by trying to keep up but they should never have had to.

 

It has taken almost 20 years for this damage to finally start to reverse and ironically Rangers seem to be the only club yet to realise that the old world no longer exists.

[jamboinglasgow]

some curious tweets from a stv journalist sifting through the accounts

 

Grant Russell ?@STVGrant  8m8 minutes ago

Another Rangers accounts find: "...obligation of Rangers Retail Ltd to purchase stock at cost higher than resale value for season 2013/14."

 

Grant Russell ?@STVGrant  4m4 minutes ago

Also: "Provision made for onerous lease contracts where stores held by Rangers Retail Ltd deemed to be loss making."

 

Grant Russell ?@STVGrant  3m3 minutes ago

Rangers paid ?411,000 under their obligation to purchase stock at cost higher than resale value through Rangers Retail Ltd.

 

Grant Russell ?@STVGrant  1m1 minute ago

Just to reiterate that. Rangers paid ?411,000 under obligation to buy stock through Rangers Retail Ltd at a cost higher than resale value.

[Jamboelite]

some curious tweets from a stv journalist sifting through the accounts

Grant Russell ?@STVGrant 8m8 minutes ago

Another Rangers accounts find: "...obligation of Rangers Retail Ltd to purchase stock at cost higher than resale value for season 2013/14."

Grant Russell ?@STVGrant 4m4 minutes ago

Also: "Provision made for onerous lease contracts where stores held by Rangers Retail Ltd deemed to be loss making."

Grant Russell ?@STVGrant 3m3 minutes ago

Rangers paid ?411,000 under their obligation to purchase stock at cost higher than resale value through Rangers Retail Ltd.

Grant Russell ?@STVGrant 1m1 minute ago

Just to reiterate that. Rangers paid ?411,000 under obligation to buy stock through Rangers Retail Ltd at a cost higher than resale value.

I have no idea what is going on with those tweets.

[Jamboelite]

Double

Edited November 27, 2014 by Jamboelite

[Eldar Hadzimehmedovic]

I've learned a lot with this saga, including discovering that account auditing is just a racket. Has any set of accounts, by any company, at any time, no matter how cooked, not been signed off by somebody?

[DETTY29]

I have no idea what is going on with those tweets.

Rangers (football club) is responsible for the costs of all unsold stock. At RRP price.

 

When was the last time someone bought anything at SD at RRP?

 

I think.

Edited November 27, 2014 by DETTY29

[jambotam]

I read that Craig Whyte was refused entry into Mexico yesterday when he knew that warrants for his arrest were issued, did he hope to skip these warrants?

[super_vlad]

Can we all stop believing that Ashley is some ****ing great businessman, he is a shark that is looking for a bargain. He haspled it off in the past but has also nearly crippled himself taking on too much risk. Lost hundred of millions trying to play the markets like a junkie gambler betting on the horses.

[tartofmidlothian]

Can we all stop believing that Ashley is some ******* great businessman, he is a shark that is looking for a bargain. He haspled it off in the past but has also nearly crippled himself taking on too much risk. Lost hundred of millions trying to play the markets like a junkie gambler betting on the horses.

 

These two are the same thing.

 

Ashley has the cash to burn, he's made way more than he ever lost and he's stinking rich. Not that that's great news for their fans, I'd suspect he doesn't give a **** about seriously challenging Celtic unless there are ??? in it.

[kingdannyb]

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-crisis-again-david-somers-4710124 ?8.3m ? - hahahshaha !

[stevie1874]

Well look I don't know if you are really thinking straight here a lot of their fans did put their own money up in that initial share issue... they were done. As to restructuring don't blame the fans for having a board that could care less about what happened as long as they were getting there bung and don't blame them for having a manager that is inept! Hearts fans put their hands into their pockets because there was know real alternative and time was against us... you know that and so do I. What Vlad did to us was no different to what has happened to them and yet in some way our fans who welcomed Vlad are in some way different to "them"... by the way I was a Vlad sheep some of the best footballers ever to wear the jersey and we are unlikely to see better for many a long year.... don't tell me these boys are anywhere near that level they would not get a sniff end of.

t

But that is not the issue here the issue is that there are a few on here that can't wait for another Scottish football team to go bust... it defies logic!

Scottish football needs change and the only way that is going to happen is if either or both of the Old firm are brought down to nearer the level playing field it was before Rangers started throwing money about which made all other clubs outside the two of them also Rans. Rangers are on their knees Celtic are seriously feeling the pinch, the SFA are squirming incase everything gets brought back out from under that carpet. I don't want Rangers to die, just the people that run football in this country to treat all clubs with the same respect and same rules regardless of how any supporters you have. Change in our game is required and the longer Rangers or Celtic suffer the more chance it will be achieved provided the other clubs chairmen stand up grow a pair and push for a fairer set up !

[Fxxx the SPFL]

The retail side of turnover is up but it's all going to Ashley, Hun ST holder at my work stated that The Rangers only receive 6p yes 6p per strip sold. If this is true it's crazy but probably part of the Ashley loan deal.

[Brandt]

The retail side of turnover is up but it's all going to Ashley, Hun ST holder at my work stated that The Rangers only receive 6p yes 6p per strip sold. If this is true it's crazy but probably part of the Ashley loan deal.

 

 

 

I'd love that to be true but find it hard to believe.

Edited November 28, 2014 by Brandt

[Unknown user]

Can we all stop believing that Ashley is some ******* great businessman, he is a shark that is looking for a bargain. He haspled it off in the past but has also nearly crippled himself taking on too much risk. Lost hundred of millions trying to play the markets like a junkie gambler betting on the horses.

There's no way he made hundreds and hundreds of millions in his line of business through being repeatedly lucky.

He's ruthless and efficient, like a shark right enough, but a good business shark at least! He buys under valued brands, picking up their logistic networks in the process and puts their logos on cheap imported vests.

 

Dunlop, Donnay, Lonsdale, Slazenger. Rangers...

 

The thing is, once you've made that type of money you don't even have to be brilliant (or lucky, for argument's sake) any more, you can employ people to do your thinking and you can afford to act the **** on the stock market.

 

The other thing is that at his level of wealth, it doesn't even have to make financial sense if it's something he just fancies doing.

 

Without knowing his motives it's impossible to know what's coming IMO

[Meadows]

I wonder if the Uefa statement about dual entry in Euro competitions will change his thinking.

[Sooperstar]

The retail side of turnover is up but it's all going to Ashley, Hun ST holder at my work stated that The Rangers only receive 6p yes 6p per strip sold. If this is true it's crazy but probably part of the Ashley loan deal.

Oh he's a ST holder, he must know then.

 

I've got a ST at Tynie and I haven't got a ****ing clue how much we make per strip sold. I could easily make up a figure and tell another fan who would then pass it on as fact though...

[Jambof3tornado]

I'm assuming this is some sort of accountancy fudge to bleed more money out of the club?

 

Up by 375% FFS!

Laughable!

[Deevers]

Certainly looks like they might well be stuffed even before their AGM if Ashley doesn't drip feed in another loan and decides that he is not going to underwrite the share issue.

[The Mighty Thor]

Operational Highlights

 

?      SPFL League One Champions 2013/14

?      Unbeaten in the league campaign

 

I just don't think enough has been made of this wonderful achievement.

 

To assemble a multi-million pound squad of footballing mercenaries you cannot afford and then manage them to beat posties, brickies and bus drivers in the third tier of Scottish football is a truly magnificent sporting feat.

 

Scottish football without doubt needs a strong Rangers.

[The Mighty Thor]

The AiM announce two blocks of 1m Sevco shares sold for ?258,000 and ?260,000 on Tuesday.

 

Rats leaving the ship or the smart guys moving their chips into position?

[Rudolf's Mate]

Admitting what most folk knew already. Need to raise ?8m in 2 months. Good luck with that..

 

 

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-crisis-again-david-somers-4710124

 

 

Confirming what we already knew. They're fecked!

 

Nobody is going to invest that amount on money. Individually or collectively! Just not going to happen.

[Jambof3tornado]

Bears den forum the accounts fail to get a mention!!!

[Hearts007]

Bears den forum the accounts fail to get a mention!!!

do they not have a private part on that forum where these kind of things are discussed?

[Jambof3tornado]

do they not have a private part on that forum where these kind of things are discussed?

No idea. I just went on for a giggle.

[DETTY29]

Quite a damming statement by Deloitte's re "going concern" for sevco.

 

 

The stark reality of just how much the boycotters are hurting Sevco's cashflow..

The key question has to be is ?8m the minimum or maximum the club needs and what are the projections for future income / expenditure based on.

 

There was talk of Rangers season ticket money being ring fenced and only released on a match by match basis.  Apparently there is no note in the accounts to this effect and in reality all 2014/2015 season ticket money was spent by end June 2014.

 

So unless they ALL start supporting the board and turning up to matches again then they seriously need to cut costs again.   (Edit - unless of course there is a sugar daddy out there willing to chuck out away a few million per year, or there are plenty fund managers prepapred to chuck more money away.  I'm not sure how a sale and lease back really help apart from keeping the lights on. But cuts will have to be made elsewhere so the can afford the rent)

 

And even then I'm not convinced there still isn't a significant shortfall.

Edited November 28, 2014 by DETTY29

[Jambof3tornado]

Does the going concern not impact on their licence for the next season? Clearly the GFA will bend things to suit.

 

And Imran Ahmed is due his pot of gold soon. Could that be the thing that tips them into insolvency?

[Jambof3tornado]

The key question has to be is ?8m the minimum or maximum the club needs and what are the projections for future income / expenditure based on.

 

There was talk of Rangers season ticket money being ring fenced and only released on a match by match basis. Apparently there is no note in the accounts to this effect and in reality all 2014/2015 season ticket money was spent by end June 2014.

 

So unless they ALL start supporting the board and turning up to matches again then they seriously need to cut costs again.

 

And even then I'm not convinced there still isn't a significant shortfall.

Its mentioned that future figures are based on gaining promotion,and most likely an increase in ST sales at top flight prices.

[jock _turd]

"Scottish football needs change and the only way that is going to happen is if either or both of the Old firm are brought down to nearer the level playing field it was before Rangers started throwing money about which made all other clubs outside the two of them also Rans. Rangers are on their knees Celtic are seriously feeling the pinch, the SFA are squirming incase everything gets brought back out from under that carpet. I don't want Rangers to die, just the people that run football in this country to treat all clubs with the same respect and same rules regardless of how any supporters you have. Change in our game is required and the longer Rangers or Celtic suffer the more chance it will be achieved provided the other clubs chairmen stand up grow a pair and push for a fairer set up !"

 

I agree with a lot of what you say. For me the big problem is Celtic and Rangers are in real terms very big fish in a small pond and therein lies the problem. Scottish football was doomed when the allowed the home team to keep the gate money, that has ensured that those two will always have greater resources than any of other teams! The other problem for Celtic and Rangers is they both crave champions league football and who can deny that teams of there size from a Scottish perspective at least should be getting into that competition... but it is a very fine line the costs are high and if you are unsuccessful you pay the price... just ask Vlad!

 

For what it is worth I think it is impossible to level out the Scottish game unless huge obstacles are put in the way of the two biggest teams because they will always have more money to spend... because they get to keep their own gate money!

[DETTY29]

Does the going concern not impact on their licence for the next season? Clearly the GFA will bend things to suit.

 

And Imran Ahmed is due his pot of gold soon. Could that be the thing that tips them into insolvency?

I'm sure licencing criteria needs to be lodged with SFA by 31 March so if they gain access to an ?8m committment, they will be fine.

Edited November 28, 2014 by DETTY29

[Strachsuit]

Admitting what most folk knew already. Need to raise ?8m in 2 months. Good luck with that..

 

 

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-crisis-again-david-somers-4710124

 

See now I disagree with this part: "And Graham Wallace, fired after Ashley?s recent power grab, is said to have been given a ?100k pay-off package."

 

As far as I was led to believe, Mr Wallace has not received his pay-off from Sevco and was planning litigation?

 

Anyhow as has been said above, there is no way they will get ?8m without Ashley or anyone else underwriting the share offer. Their financial results are a disaster and to me, this is the biggest point of all: despite popular myth, Mike Ashley doesn't need a "strong Rangers" to rip the pish out of them.

 

If I was a betting man, I would say that this all looks like it's heading towards a Mike Ashley-led pre-packed administration.

 

What was it that Scott said a couple of months ago, "make no mistake, Mike Ashley has saved Rangers"? His saving of Rangers equates to throwing someone a life jacket in the middle of the Arctic circle and leaving them to flounder.

[jock _turd]

The Scotsman give the headline "Rangers admit they need ?8m over next 12 months" who is making what up? Is the money need over two months or twelve?

 

edit

 

 

"As far as I was led to believe, Mr Wallace has not received his pay-off from Sevco and was planning litigation?"

 

Is that so and who actually gave you that information ?

Edited November 28, 2014 by jock _turd

[The Mighty Thor]

The Scotsman give the headline "Rangers admit they need ?8m over next 12 months" who is making what up? Is the money need over two months or twelve?

 

Lets hope they take the 12 month approach. If so we'll be playing in a 9 team league by Jan 1st.

[DETTY29]

Lets hope they take the 12 month approach. If so we'll be playing in a 9 team league by Jan 1st.

Sell Wallace and McLeod on 1st January.

 

Rent for 2 LC semi finals received 31st January.  (Seriously, these haven't been announced yet.  Aberdeen and Dundee United is a debate to be had, but the other one is a no brainer.  Maybe the Commonwealth Games planning is seriously behind schedule for the first time in releasing Hampden back to Queens Park / SFA)

 

Release season tickets for sale on 1st February.

 

Funds from share issue received 01 April

[The Mighty Thor]

Sell Wallace and McLeod on 1st January.

 

Rent for 2 LC semi finals received 31st January.  (Seriously, these haven't been announced yet.  Aberdeen and Dundee United is a debate to be had, but the other one is a no brainer.  Maybe the Commonwealth Games planning is seriously behind schedule for the first time in releasing Hampden back to Queens Park / SFA)

 

Release season tickets for sale on 1st February.

 

Funds from share issue received 01 April

 

Selling McLeod i'll give you but Wallace won't realise much cash. He's done.

 

There's no chance the 2 LC semi's will be at ?1broke. Police Scotland won't allow it.

 

Share issue funds. Unless they get an underwriter the share issue won't go ahead.

 

ST's is a possible but if they are adrift and leathered by Celtic by then your average hun won't be cashing his giro for another year of division 1 football.

[Fort Vallance]

How much of the boycott is actually a boycott and how many of them are just not going because they're s**t ?

[Feeno]

Could all this chat about Ashely refusing to underwrite the share option, just be a tactic to ensure that no one rests on their laurels when it comes time to cough up, kind of like the "minutes from closing" stuff that we where told during our share offer?

 

If the hun hoardes believe that they have the benefactor, where's the motivation to put their hands in their pockets?

Edited November 28, 2014 by Feeno

[Boris]

How much of the boycott is actually a boycott and how many of them are just not going because they're s**t ?

 

[Hagar the Horrible]

AS per their last set of accounts they were losing ?600k per month,(loan of ?1.5m) this set says they are losing ?700k per month (to June 2014 but the loan was repaid) however the last share issue of ?3.1m was included and despite that in October they needed Ashleys loans totalling ?3m both designed to get them to the AGM. The ?8m they might raise from shares only takes them to the end of the season, and this is a budget based on last season figures. in reality they need ?12m per year over and above regular income, but that figure is increasing due to falling attendances. That ?8m will need to pay back the ?3m to MA leaving ?5m of working capital to get them to the next season ticket window. Even the sale of next season tickets will only cover the costs of running the club during the summer recess. If they fail to raise anything short of ?8m that's it game over! No margin for error, and by the time the share offer has opened they might be too far behind us, that promotion might only be achieved via the play-offs, Added pressure or what????????

 

Still king has ?16m to invest, buy all the shres and he gains control and the rest can be used for working capital and getting rid of onerous contracts and MA? Time to call Kings bluff!!!!!!!!!!!!

[Hagar the Horrible]

Better to offer to sell up to ashley than let the lying king in imo. That's if ashley wants to own the franchise rather than milk it.

Judging by the term of the deal via Rangers Retail Ltd, and unsold stock goes to Rangers to sell. Rangers don't even have to be good for him to make loadsa dosh on this? As an example Rangers Retail Ltd sell jerseys at ?40 each in their own stores, but sell them to Rangers at ?50 who sell them for ?40 in theirs, and any unsold stock from Rangers Retail Ltd gets sold to Rangers for ?50, and they have to buy it? is that about right, my interpretation??? Rangers must be the only club in the world that the more jerseys they sell the more debt they rack up?