The Rangers soap opera goes on and on.

[tartofmidlothian]

Toys out of pram

 

http://sport.stv.tv/...offering-fails/

 

Brilliant.

[Footballfirst]

I wonder how many shares he will buy? Assuming he some already.

 

I note that Super Salary wasn?t happy about being asked about the share issue at today?s pre match press conference.

 

I wonder if any journo will be brave enough to ask him if he will be taking up his entitlement to buy another 300,000 or so shares.

 

Taking up the offer would cost him around ?60K, which is pretty poor value when compared to the ?10K he paid for his current shareholding of 1M shares (that assumes that he hasn?t cashed in on the 1M shares previously)

[Skivingatwork]

http://sport.stv.tv/...offering-fails/

 

This is brilliant, Ally looks pissed off, comes into room and says he will only talk about football matters, first question is about the share issue.

 

[Deevers]

 

 

 

I note that Super Salary wasn?t happy about being asked about the share issue at today?s pre match press conference.

 

I wonder if any journo will be brave enough to ask him if he will be taking up his entitlement to buy another 300,000 or so shares.

 

Taking up the offer would cost him around ?60K, which is pretty poor value when compared to the ?10K he paid for his current shareholding of 1M shares (that assumes that he hasn?t cashed in on the 1M shares previously)

 

 

Interesting question. I reckon there is no way that he will. His body language at that Press Conferance looked pretty bad. He' probably left pretty sharpish to make arrangements for the sale of his shares before the price plummets.

[jamboruss]

Respect?

 

"who are these people?"

 

Hypocrite and major FUD!

[Sexton Hardcastle]

Classic Ally.

[Rattatooi]

Poll up on the Daily Record site asking the opinion of Rangers fans. In no way are answers being given by fans of other clubs.

 

http://www.dailyreco...-say-15-4127613

 

According to this, the majority that have voted want Dave King and his consortium to run Rangers in future - Brilliant..!! Out of the Frying Pan.......

[Chrambo]

 

 

I note that Super Salary wasn?t happy about being asked about the share issue at today?s pre match press conference.

 

I wonder if any journo will be brave enough to ask him if he will be taking up his entitlement to buy another 300,000 or so shares.

 

Taking up the offer would cost him around ?60K, which is pretty poor value when compared to the ?10K he paid for his current shareholding of 1M shares (that assumes that he hasn?t cashed in on the 1M shares previously)

 

No worries for a man with such a large war chest surely?

[scottish_chicP]

That video of McCoist is brilliant. Respect? They're the media doing their job ya dick.

[Zico]

If your a serious investment fund, why on earth would you buy shares in a company which has a history of financial issues, no signs of curbing loss making and using a share issue to cover a few months running costs (at which point they need larger investment.)

I guess it depends if that investment fund is managed by a Sevco fan or not. Letham is by all accounts as is an investment manager ex-colleague of mine who (allegedly...) bought a large chunk on behalf of his fund. Which some of you hopefully don't have any of your pension invested in!

 

Allegedly, possibly etc.

[Unknown user]

As much as I hate Sevco's actions, I definitely hate the way that Phil guy uses the phrase 'for the avoidance of doubt' way more.

I equally hate the whole tribute act /franchise /team that plays at Ibrox patter, I effin get it, enough with the snide digs. Literally hundreds and thousands of times I've read the same wee snide digs from Celtic fans online, I'm bloody sick of it.

 

That aside, I couldn't help laughing at the end of the McCoist video.

 

So, nothing wrong there eh Ally, you're obviously no bothered eh?

 

"I do nothing but show you guys respect" is an interesting way of looking at it by the way - weren't the BBC banned from ibrox for straying off the party line?

[Juan Jose Carricondo Perez]

I guess it depends if that investment fund is managed by a Sevco fan or not. Letham is by all accounts as is an investment manager ex-colleague of mine who (allegedly...) bought a large chunk on behalf of his fund. Which some of you hopefully don't have any of your pension invested in!

 

Allegedly, possibly etc.

 

I know this is definately the case with one manager who has since sold out the holding.

Edited August 29, 2014 by Juan Jose Carricondo Perez

[Feeno]

His tortured puss as he sat down - the forced smile and the dead eyes. Could not ask for a better gift this Friday

[The Mighty Thor]

That video of McCoist is brilliant. Respect? They're the media doing their job ya dick.

 

I've just managed to get it to play just now. It's brilliant.

 

On your point; if the media had been doing their jobs properly in the first instance then perhaps they wouldn't be in the shit state they are now.

 

Mint sauce anyone?

[The Comedian]

Neil Patey is a banger.

[Hagar the Horrible]

So the league as it stands with Sevco being -28 behind us, even with just 33 games left its insurmountable

 

Hearts 9

QoS 7

Raith 6

Livingston 4

Falkirk 4

Alloa 3

Hibs 3

Cowdenbeath 1

Dumbarton 0

Rangers -19

 

[dc-jambo]

http://sport.stv.tv/...offering-fails/

 

This is brilliant, Ally looks pissed off, comes into room and says he will only talk about football matters, first question is about the share issue.

 

Ha -- cheers for putting this up. Made my day!

[Boris]

Poor super salary, the man who'd have spent a fortune if he'd have his way too..

 

 

Football Finance "Expert" Neil Patey talks to Connor Gillies about Sevco Share Issue https://t.co/ilaPsDKK86

 

So the "A" word is mentioned. Any other club and you would have the footballing authorities looking for answers to certain questions.

[Van Wilder]

Ally.

 

 

Bottle. Crash.

 

QotS victory please.

[Boris]

Respect?

 

"who are these people?"

 

Hypocrite and major FUD!

 

Talks of respect then proceeds to tap his head as the journo asks the question.

 

Just short of pushing his tongue under his bottom lip and going "duuuhhhh!"

 

Nasty, nasty man despite his "loveable rogue" persona. Over-rated footballer too, imo.

[Hagar the Horrible]

This is a lie contradicted later in their cheapo non-prospectus

 

The funding will be used to allow the Company to start implementing the strategy to re-build and re-establish Rangers as a stable, sustainable and successful business to deliver both shareholder value and footballing success. The proposals allow both existing private shareholders and institutional investors to participate in the fund raising to raise equity for the 2014/15 football season in a cost effective manner.

 

They say later its in part to repay the loan and if its not uptaken then, the Company will be unable to pay its creditors

 

[The Mighty Thor]

Poor super salary, the man who'd have spent a fortune if he'd have his way too..

 

 

Football Finance "Expert" Neil Patey talks to Connor Gillies about Sevco Share Issue https://t.co/ilaPsDKK86

Neil Patey is a banger.

 

Neil Patey is the kind of guy who 'advised' the huns into their current shit-fest.

 

[The Comedian]

 

 

 

Neil Patey is the kind of guy who 'advised' the huns into their current shit-fest.

 

 

They're better off asking the Big Hoose Hun for financial advice.

 

 

[Hagar the Horrible]

This statement is how they can renege on the repayment:

 

On 23 February 2014, the Company announced that it had entered into two secured short term credit facilities for an aggregate amount of up to ?1.5 million. These credit facilities are due for repayment on 1 September 2014 and the Board is in discussions with the providers in relation to their repayment, part of which will come from the proceeds of the Open Offer.

 

and again it states the shsre offer it to do this, so it wont be used to improve the club? The share issue should be done to improve investment resulting in a ROI, but in this case they are using it for repaying a loan and for cash flow? this is why this will fail!

[269miles]

 

 

 

 

From the 1st Aug 2013 SPFL rules (if they've not been changed). No mention of bonus payments.

 

Default in Player and Football Manager/Coaching Staff Remuneration

E17 Except in circumstances where there is a bona fide dispute as to liability for payment by the Club, where the Club is entitled to deduct or otherwise withhold payment of a sum otherwise due or where the Club takes, suffers or is subject to an Insolvency Event, any Club which shall fail to pay any sum due by it to a Player under and in terms of that Player?s Contract of Service and/or any sum due by it under a contract of employment to any Official engaged in football management and/or football coaching (a ?Remuneration Default?) shall be in breach of these Rules.

E18 Any Club which suffers or is subject to a Remuneration Default shall within 2 days of such default notify the Secretary in writing of any such default with details of the amount(s) and Player(s) and/or Official(s) concerned and if it fails to so notify the Secretary it shall be in breach of these Rules.

E19 Any Club which commits a Remuneration Default shall not, except with the consent of the Board, be entitled or permitted to Register any Professional Player with the League and the League shall not register such a Player until the Board is satisfied that such Remuneration Default shall no longer continue or subsist.

Remuneration default you say ?

 

 

A definition of "remuneration" -

 

Reward for employment in the form of pay, salary, or wage, including allowances, benefits (such as company car, medical plan, pension plan), bonuses, cash incentives, and monetary value of the noncash incentives.

 

 

Looks like bonus are remuneration , as you would expect. Bonus payments will have to be declared to the SPFL and I know how keen Sevco are to ensure they get this right as I understand their predecessors have run into one or two problems with the football authorities through the years due to failing to make full and proper disclosures.

[Thomaso]

 

http://sport.stv.tv/football/clubs/rangers/290070-rangers-will-not-be-able-to-pay-creditors-if-4m-share-offering-fails/

 

This is brilliant, Ally looks pissed off, comes into room and says he will only talk about football matters, first question is about the share issue.

 

 

Not so chirpy cheeky chappie now Ally?

 

(Maybe he had just found out that the vacancy to be the new Hearty Harry was now closed).

[Hagar the Horrible]

This is priceless

 

The Board has developed and approved a strategic plan as part of the Business Review to re-build and re-establish the Club, to return it to the top of the domestic game within three seasons, and to thereafter be competitive in UEFA competition. This will require continued investment in the playing squad over the next three years and beyond to drive on-field success.

 

How can they do this IF we beat them to the race for the championship and again if they can?t fund an existence beyond halloween?

 

 

Here is how they think:

 

In order to achieve this, the Company will need to raise capital over the next three years. It expects to raise between ?20 million and ?30 million.

 

They will struggle to get this money in never mind ?30m after this:

 

The Open Offer is an important planned part of this fund raising strategy and will provide the Club with working capital and part of the repayment to George Letham and Alexander Easdale of the ?1.5 million drawn down from the credit facilities provided by them to the Company

 

Again they admit the share issue is for working capital and to pay back LATE a loan!!!!!!!!!!!!!

 

[Turkishcap]

Anyone else see the funny side of the backdrop.....You Tube Rangers.....perfect!

[gordie1968]

lol

[vegas-voss]

I just hope for Ally's sake this doesn't effect the players after all this sounds much worse than Charles Green stuff the other week.Complete ****** of a man McCoist is and by far the bigggest slithering snake at Ibrox.

[Angry Haggis]

To be fair to Ally McCoist, Graham Wallace or someone from the board should have been at his side at that press conference to take question on the share issue.

 

Still, top viewing though - thanks for that Alistair, you handled that interview amazingly.

 

[Don Dan]

Fat Salary no happy at the press conference today according to the (banned) BBC. The Rangers financial woes now being reported through out the media. Prospective investors including existing shareholders must be having 2nd thoughts when they see this stuff in the press I would have thought.

[DETTY29]

 

 

Talks of respect then proceeds to tap his head as the journo asks the question.

 

Just short of pushing his tongue under his bottom lip and going "duuuhhhh!"

 

Nasty, nasty man despite his "loveable rogue" persona. Over-rated footballer too, imo.

Underneath the cheeky chappy persona, he's always been a hoorible charasser.

 

Bit of a fake.

[Deevers]

 

Fat Salary no happy at the press conference today according to the (banned) BBC. The Rangers financial woes now being reported through out the media. Prospective investors including existing shareholders must be having 2nd thoughts when they see this stuff in the press I would have thought.

. Honestly can't see who is going to be daft enough to throw their money at this.

 

 

[Stuart Lyon]

Next press conference I can see him coming into the room belting out that old Aretha Franklin classic R E S P E C T find out what to means to me!

[h-e-a-r-t-s]

anyone else sort of hoping Rangers don't go into Admin as winning the league in the closing stages would be a lot more fun than romping it by 15 points?

[Rudolf]

anyone else sort of hoping Rangers don't go into Admin as winning the league in the closing stages would be a lot more fun than romping it by 15 points?

 

No.

[DETTY29]

 

 

Talks of respect then proceeds to tap his head as the journo asks the question.

 

Just short of pushing his tongue under his bottom lip and going "duuuhhhh!"

 

Nasty, nasty man despite his "loveable rogue" persona. Over-rated footballer too, imo.

Underneath the cheeky chappy persona, he's always been a hoorible charasser.

 

Bit of a fake.

[Don Dan]

 

http://sport.stv.tv/football/clubs/rangers/290070-rangers-will-not-be-able-to-pay-creditors-if-4m-share-offering-fails/

 

This is brilliant, Ally looks pissed off, comes into room and says he will only talk about football matters, first question is about the share issue.

 

Football questions is it Angry Sally? My first question would have been if The Rangers win tomorrow will they be able to pay the win bonus if the share issue fails.

[Feeno]

What's he standing up for anaw - ******* welt piece - does he want to square go the boy?

[Rods]

Not want to get this thread bogged down with super salary chat but the man is a hypocrite. Only a few weeks ago he was looking for apologies over the Tax fiasco with the former Rangers what did that have to do with football? Now he is only answering questions about football.

 

I personally think they will survive this one but they would be better pushing the admin button now rather than the liquadation button later.

Edited August 29, 2014 by Rents

[Hagar the Horrible]

 

anyone else sort of hoping Rangers don't go into Admin as winning the league in the closing stages would be a lot more fun than romping it by 15 points?

We will be 28 points ahead just now? I expect that to be extended, and if they go into admin, this time there will be a player cull? all high earners will go. We have to think of ourselves and by hook or by crook we have to win this league, they are just collateral no more!

[tartofmidlothian]

Respect. That's something you earn, right?

[Victor Meldrew]

anyone else sort of hoping Rangers don't go into Admin as winning the league in the closing stages would be a lot more fun than romping it by 15 points?

 

A 15 point cushion (or it might be 25 due to the fiction that it's the same club - this would be a second insolvency event) would put matters beyond the reach of the SFA and match officials. Would you want to play them on the last day of the season if there were fewer than 3 points in it? I think we all know what would happen....

[Dalstonjambo]

anyone else sort of hoping Rangers don't go into Admin as winning the league in the closing stages would be a lot more fun than romping it by 15 points?

 

Nope. I hope they go completely. I also hope its painful and they don't come back.

 

 

Sent from my iPhone using Tapatalk

[Rods]

We will be 28 points ahead just now? I expect that to be extended, and if they go into admin, this time there will be a player cull? all high earners will go. We have to think of ourselves and by hook or by crook we have to win this league, they are just collateral no more!

 

This sums it up for me we went down due to points being taken off us why should we not benefit from points taken from our teams.

[Hagar the Horrible]

Their share price is slowly dropping down to the 23p mark, if it goes to 19p, then why bother with a share issue??? the next 2 weeks until the 16th September will be painful for them, Unless a massive sugar daddy comes in, I cant see them lasting another 4 weeks. With us at least it was call to help us out until the end of the season than we knew admin would have an end game where we could recapture our club back? they are just heading to Admin v2.0 which will be the prelude to admin v3.0, they need to resize ASAP

[Cairneyhill Jambo]

A Rangers fan I know quite well claims that McCoist did take a 50% drop in his wages and is now on ?400k a year.

 

The problem Rangers have is the other 50% is actually only deferred so McCoist can call it in anytime.

 

That is the reason The Rangers can't sack him as they would have to pay him the balance of ?400k.

[h-e-a-r-t-s]

Nope. I hope they go completely. I also hope its painful and they don't come back.

 

 

Sent from my iPhone using Tapatalk

 

this is where i was a few years ago. but i enjoyed the victory at Ibrox this season too much to hope that we never get the opportunity again to go through a do them on their own patch.

[Skivingatwork]

IMO I hope they go into admin 2, a proper admin this time, with all the high earners jettisoned and a team of kids fighting a relegation battle for the rest of the season.

 

A 25 point deduction should see that happen as, after all, they will claim to be the same club wont they?

 

Edited August 29, 2014 by Skivingatwork