The Rangers soap opera goes on and on.

[Hagar the Horrible]

Even Wallace is not going to bother taking up shares so clearly he knows something is happening and either he wants out or still be there oce a new regime takes over? his own idea is dying and even he is not supporting it?????

 

http://www.heraldscotland.com/news/home-news/rangers-boss-graham-wallace-faced-new-questions-from-fans-after-he-shuns-ibrox-share-.1409695249

Edited September 3, 2014 by Hagar the Horrible

[Strachsuit]

Anything under the magical 75% take-up rate & the Spivs will have to top it up themselves it's that simple. This offering has to succeed for them to stay at the helm..

 

I believe they'll get it by hook or by crook. The next phrase will prob be the most interesting imo, if I were them that's when I'd do the admin getting rid of super salary & elbows etc + the onerous contracts bleeding them dry..

 

Wonder how many small business that deal with them will be shafted this time though?.

 

Yes, for this current set of Spivs to stay that is!

 

As for the small businesses, terrible although it may sound, they really shouldn't offer or have offered RFC any credit line whatsoever. Even if it is just the local paper shop again!

[Strachsuit]

We should play a game. Name the Spivs. How many Spivs have been involved at Ibrox in one capacity or another since the Craig Whyte era?

 

Could take a while mind, seeing as there have been dozens!

[Hagar the Horrible]

 

We should play a game. Name the Spivs. How many Spivs have been involved at Ibrox in one capacity or another since the Craig Whyte era?

 

Could take a while mind, seeing as there have been dozens!

Can you include those that now work in the SFA?

 

Imran Ahmed my opening bid?

[Strachsuit]

Can you include those that now work in the SFA?

 

Imran Ahmed my opening bid?

 

Why, of course! So long as they have been involved at Ibrox in any capacity (and of course drawn fortunes for themselves whilst there) then they are allowed.

 

I'll see your Imran Ahmed with George Letham and raise you Phillip Nash.

[Hagar the Horrible]

 

 

 

Why, of course! So long as they have been involved at Ibrox in any capacity (and of course drawn fortunes for themselves whilst there) then they are allowed.

 

I'll see your Imran Ahmed with George Letham and raise you Phillip Nash.

I will see your Nash with a Driscoll Brother (Sandy) and raise with a Stockbridge

[Strachsuit]

Ah good old Brian Stockbridge, now that was a top class Spiv with a real desire to shaft money from RFC. A fabulous ?200k a year salary and then a full year's salary paid on departure - that's Spivtastic!

 

I'll see your Stockbridge with David Somers and raise you Norman Crichton. He has no less than 8 other partnerships or directorships of other businesses and was brought in to chair RFC's "Investment Committee". Wonder how it's going?

[Hagar the Horrible]

 

Ah good old Brian Stockbridge, now that was a top class Spiv with a real desire to shaft money from RFC. A fabulous ?200k a year salary and then a full year's salary paid on departure - that's Spivtastic!

 

I'll see your Stockbridge with David Somers and raise you Norman Crichton. He has no less than 8 other partnerships or directorships of other businesses and was brought in to chair RFC's "Investment Committee". Wonder how it's going?

more wage thieves than you can shake a stick it, I shall go for the media sycophants that they employed, So I will see the Somers with a Merlin and a Trainor, and raise a Toxic Jack! boom!

[The Comedian]

Ha Tubby Traynor. Remember his broadside at the universe on leaving the Record?

 

Fud.

[We_are_the_Hearts]

I will see Jabba with Super Salary........................still bleeding them dry with salaries and penny shares for the penny arcade and looking for war chests

[DETTY29]

So, this share offer is for RIFC, the holding company of the football club yeah? And if it fails would the directors of the holding company ask the football club to pay back it's debts to the holding company, some ?16m or so?

 

I'm just trying to figure out how the SFA and SPFL will manage to allow the tribute act to carry on against all it's rules and regulations this time...

One or 2 posters on TSFM are now suggesting there may be significant lack of clarity within rules as to first and second insolvency events where the footbal club and the operator of the club are separate. And that TRFC could challenge a 25 point penalty and look for it to be 15 points.

 

Now it's probably paranoia and the SPFL did say last season it would be 25 points when rumours were abound they might see the season out.

 

But if there is any scope for legal interpretation, TRFC (or their operators) would have little to lose by challenging a 25 penalty and look to reduce it to 15. It would certainly be an off field inconvenience for any other club that may be challenging them on the park.

 

And there is no way there would be a line from the football authorities that say 15 points you are new club; 25 points to keep your history.

 

As I said, all paranoia as no-one is coming up with specifics.

 

Maybe a couple of the posters on here who also follow and post on TSFM closely could provide an opinion?

Edited September 3, 2014 by DETTY29

[Boris]

One or 2 posters on TSFM are now suggesting there may be significant lack of clarity within rules as to first and second insolvency events where the footbal club and the operator of the club are separate. And that TRFC could challenge a 25 point penalty and look for it to be 15 points.

 

Now it's probably paranoia and the SPFL did say last season it would be 25 points when rumours were abound they might see the season out.

 

But if there is any scope for legal interpretation, TRFC (or their operators) would have little to lose by challenging a 25 penalty and look to reduce it to 15. It would certainly be an off field inconvenience for any other club that may be challenging them on the park.

 

And there is no way there would be a line from the football authorities that say 15 points you are new club; 25 points to keep your history.

 

As I said, all paranoia as no-one is coming up with specifics.

 

Maybe a couple of the posters on here who also follow and post on TSFM closely could provide an opinion?

 

Anything less than 25pts would, imo, show the SPFL up for what they are and any integrity that remains in Scottish football would be lost forever.

 

However, the scenario you mention coming to pass would not surprise me.

[Guest oldcastlerock2012]

What the SPFL should do is publicly admonish Rangers for basically continuing their big spending ways and failing to use liquidation as a way to build the club again on a foundation of young players and say,

 

"Look at Hearts. They went into administration and they responded by taking their punishment on the chin, cutting costs and focusing on youth. They engaged with their support and attracted an owner with the best interests of the club at heart. They now have 12,000 season rocket holders, 8000 monthly pledgers, a squad full of exciting, home-grown talent and are top of the league."

 

They won't though.

Edited September 3, 2014 by oldcastlerock2012

[jambali]

12,000 season rocket holders -

 

We'll now get fined for pyrotechnics in the stadium!!

[Strachsuit]

more wage thieves than you can shake a stick it, I shall go for the media sycophants that they employed, So I will see the Somers with a Merlin and a Trainor, and raise a Toxic Jack! boom!

 

I will see Jabba with Super Salary........................still bleeding them dry with salaries and penny shares for the penny arcade and looking for war chests

 

Right ok, I'll see these with Craig Mather and Charlie Green and I'll raise with Malcolm Murray, Ian Hart and those involved in three of the companies "advising" the board in recent years: -Daniel Stewart -Strand Hanson -Cenkos.

[Musemic]

12,000 season rocket holders -

 

We'll now get fined for pyrotechnics in the stadium!!

 

Free pair of asbestos gloves with every ticket

[Horatio Caine]

 

Save Sevco ... Buy a brick, handy for throwing through windows etc ...

 

Serving suggestion - put someone else's name on the brick.

[Hagar the Horrible]

 

 

 

 

 

Right ok, I'll see these with Craig Mather and Charlie Green and I'll raise with Malcolm Murray, Ian Hart and those involved in three of the companies "advising" the board in recent years: -Daniel Stewart -Strand Hanson -Cenkos.

I will see this all with a David Grier who denied knowing anything about the ticketus deal until later, and then I will raise with a dumb and dumber also with D&P in the persons of Paul Clark and david Whitehouse! BOOM! we are getting close to having all of these on a pack of cards

[Footballfirst]

I will see this all with a David Grier who denied knowing anything about the ticketus deal until later, and then I will raise with a dumb and dumber also with D&P in the persons of Paul Clark and david Whitehouse! BOOM! we are getting close to having all of these on a pack of cards

 

Don't forget the money men and women behind the faceless shareholders, Rafat Rizvi, Mazen Houssami and Barbel C Abela or Craigie boy's Gary Withey and Paul Betts

Edited September 3, 2014 by Footballfirst

[Strachsuit]

Don't forget the money men and women behind the faceless shareholders, Rafat Rizvi, Mazen Houssami and Barbel C Abela or Craigie boy's Gary Withey and Paul Betts

 

I'd forgotten about them! I'll try and level with Phil Cartmell from 2013 and gold old Watty Smith and I'll raise Bryan Smart who resigned at a similar time to Craig Mather after Spivving at Ibrox for a while and also another faceless shareholder from the past, Arif Naqvi.

[AllyjamboDerbyshire]

One or 2 posters on TSFM are now suggesting there may be significant lack of clarity within rules as to first and second insolvency events where the footbal club and the operator of the club are separate. And that TRFC could challenge a 25 point penalty and look for it to be 15 points.

 

Now it's probably paranoia and the SPFL did say last season it would be 25 points when rumours were abound they might see the season out.

 

But if there is any scope for legal interpretation, TRFC (or their operators) would have little to lose by challenging a 25 penalty and look to reduce it to 15. It would certainly be an off field inconvenience for any other club that may be challenging them on the park.

 

And there is no way there would be a line from the football authorities that say 15 points you are new club; 25 points to keep your history.

 

As I said, all paranoia as no-one is coming up with specifics.

 

Maybe a couple of the posters on here who also follow and post on TSFM closely could provide an opinion?

After a few posts on TSFM it became clear that the wording in the 'rules' that the original post referred to didn't mean what the original poster had suggested, and, in fact, was there to stop the claim that the administration was of the 'owner' or 'holding company' and so the club shouldn't suffer. I think it was Portsmouth who tried to escape a second points penalty by claiming something along these lines. I think it was only the original poster who actually smelt a rat, on this occasion, thinking it meant TRFC could get off with a 15 point penalty while still maintaining the same club illusion. No doubt, though, there will be significant lack of clarity within the rules, in many areas, that will enable the SPFL (and the SFA within their rules) to manipulate them however they like.

[Footballfirst]

I'd forgotten about them! I'll try and level with Phil Cartmell from 2013 and gold old Watty Smith and I'll raise Bryan Smart who resigned at a similar time to Craig Mather after Spivving at Ibrox for a while and also another faceless shareholder from the past, Arif Naqvi.

 

How about SG Corr (Putney Holdings) , Jean Haddad, Elias Kaisar, Chris Morgan (Asia Corporation) from the original Sevco shareholders?

[PTBCAL]

Can I ask a question re Rangers.... Is it actually possible they will go into admin and effectively hand us the league as tbh that's all I am interested in.

 

Likelihood % will do me......

[Eldar Hadzimehmedovic]

Can I ask a question re Rangers.... Is it actually possible they will go into admin and effectively hand us the league as tbh that's all I am interested in.

 

Likelihood % will do me......

 

It's been likely all of last season, all summer and now into this season it seems. I'll wait until it actually happens before getting excited.

[Pistol1874]

What the SPFL should do is publicly admonish Rangers for basically continuing their big spending ways and failing to use liquidation as a way to build the club again on a foundation of young players and say,

 

"Look at Hearts. They went into administration and they responded by taking their punishment on the chin, cutting costs and focusing on youth. They engaged with their support and attracted an owner with the best interests of the club at heart. They now have 12,000 season rocket holders, 8000 monthly pledgers, a squad full of exciting, home-grown talent and are top of the league."

 

They won't though.

That should be issued by the SFA and signed by Mr Petrie.

The seethe.

[I P Knightley]

Odd one this, only existing shareholders can take up this offer, I've always assumed Wallace doesn't hold any shares ?. This on top of the report on his wages previously tells me someone is trying to discredit him through the papers..

I think they're trying to suggest that he should by a bundle of shares at "full" price in order to have the right to take up additional shares through the rights.

 

So - pay some spiv 24p a share before adding approx 6p (per share bought) to the war chest.

 

Even the article says that it is quite rare for folk in his position to hold shares in their own company (that was all frowned upon through the late '80s & '90s). To get their knickers in a twist that he's not lining the pockets of a spiv suggests a pretty low intellect.

 

In fact, the article should be: "Knuckle draggers get knickers in twist over yet another Imagined slight and not even half a truth. Journalism fails to rise from bottom of barrel."

[NudeySkacel]

What the SPFL should do is publicly admonish Rangers for basically continuing their big spending ways and failing to use liquidation as a way to build the club again on a foundation of young players and say,

 

"Look at Hearts. They went into administration and they responded by taking their punishment on the chin, cutting costs and focusing on youth. They engaged with their support and attracted an owner with the best interests of the club at heart. They now have 12,000 season rocket holders, 8000 monthly pledgers, a squad full of exciting, home-grown talent and are top of the league."

 

They won't though.

 

Oh man, I really want a season rocket! where do I get one?

 

Edited September 3, 2014 by NudeySkacel

[Bauld]

What the SPFL should do is publicly admonish Rangers for basically continuing their big spending ways and failing to use liquidation as a way to build the club again on a foundation of young players and say,

 

"Look at Hearts. They went into administration and they responded by taking their punishment on the chin, cutting costs and focusing on youth. They engaged with their support and attracted an owner with the best interests of the club at heart. They now have 12,000 season rocket holders, 8000 monthly pledgers, a squad full of exciting, home-grown talent and are top of the league."

 

They won't though.

 

Stunning.

[UnbelievableJeff]

 

Can I ask a question re Rangers.... Is it actually possible they will go into admin and effectively hand us the league as tbh that's all I am interested in.

 

Likelihood % will do me......

 

65% and creeping up by the week. The next 4-6 weeks are key IMO.

[Dutchmul]

65% and creeping up by the week. The next 4-6 weeks are key IMO.

 

Personally, I think it's hovering around 80/90% at the moment, this share issue is an admission that they have no cash, no lender of last resort, they freely admit that without this money from the shares they can't pay their creditors nor will they be able to make the september payroll, without this cash they will be in admin before payroll is due as they will have no choice.

 

We will know by 8 am on 18 september if it has worked, thats when the new shares are allotted.

[soonbe110]

 

 

One or 2 posters on TSFM are now suggesting there may be significant lack of clarity within rules as to first and second insolvency events where the footbal club and the operator of the club are separate. And that TRFC could challenge a 25 point penalty and look for it to be 15 points.

 

Now it's probably paranoia and the SPFL did say last season it would be 25 points when rumours were abound they might see the season out.

 

But if there is any scope for legal interpretation, TRFC (or their operators) would have little to lose by challenging a 25 penalty and look to reduce it to 15. It would certainly be an off field inconvenience for any other club that may be challenging them on the park.

 

And there is no way there would be a line from the football authorities that say 15 points you are new club; 25 points to keep your history.

 

As I said, all paranoia as no-one is coming up with specifics.

 

Maybe a couple of the posters on here who also follow and post on TSFM closely could provide an opinion?

don't think the points deduction is the major factor. It wasn't in our relegation. The big issue is the redundancies and then player registration embargo that will him them hardest. If we had been allowed to register players last season we would have survived even with the 15 point deduction

[Sidsnot]

"Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have ?620,000 of club assets frozen.

 

Lawyers acting for Mr Ahmad claim he is owed a ?500,000 bonus for the time he spent working at the Ibrox club.

 

The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent.

 

Lord Stewart continued the case to Friday when lawyers for Rangers will address the court.

 

Mr Ahmad, who has twice lost court bids to have Rangers' assets ring-fenced, claims he is owed ?500,000 for negotiating deals and wants another ?120,000 to cover legal expenses.

 

Advocate Kenny McBrearty QC told Lord Stewart that Mr Ahmad is concerned about the current state of the club's finances and fears Rangers would not be in a position to pay up if the court eventually rules in his favour.

 

He told the court Rangers have sold 23,000 season tickets this season, down 15,000 on last season.

 

Mr McBrearty said the Rangers board's latest plans for a share issue may only raise ?3.6m and cover part of the club's obligations.

 

He added: "There is a significant hole in the club's finances for the forthcoming season."

[soonbe110]

 

Can I ask a question re Rangers.... Is it actually possible they will go into admin and effectively hand us the league as tbh that's all I am interested in.

 

Likelihood % will do me......

50 I would say at this time

[Don Dan]

 

"Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have ?620,000 of club assets frozen.

 

Lawyers acting for Mr Ahmad claim he is owed a ?500,000 bonus for the time he spent working at the Ibrox club.

 

The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent.

 

Lord Stewart continued the case to Friday when lawyers for Rangers will address the court.

 

Mr Ahmad, who has twice lost court bids to have Rangers' assets ring-fenced, claims he is owed ?500,000 for negotiating deals and wants another ?120,000 to cover legal expenses.

 

Advocate Kenny McBrearty QC told Lord Stewart that Mr Ahmad is concerned about the current state of the club's finances and fears Rangers would not be in a position to pay up if the court eventually rules in his favour.

 

He told the court Rangers have sold 23,000 season tickets this season, down 15,000 on last season.

 

Mr McBrearty said the Rangers board's latest plans for a share issue may only raise ?3.6m and cover part of the club's obligations.

 

He added: "There is a significant hole in the club's finances for the forthcoming season."

 

Lord Stewart will have no option but to now freeze the ?650k the evidence that The Rangers or in a parlous financial state cannot be denied.

[bungalow]

"Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have ?620,000 of club assets frozen.

 

Lawyers acting for Mr Ahmad claim he is owed a ?500,000 bonus for the time he spent working at the Ibrox club.

 

The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent.

 

Lord Stewart continued the case to Friday when lawyers for Rangers will address the court.

 

Mr Ahmad, who has twice lost court bids to have Rangers' assets ring-fenced, claims he is owed ?500,000 for negotiating deals and wants another ?120,000 to cover legal expenses.

 

Advocate Kenny McBrearty QC told Lord Stewart that Mr Ahmad is concerned about the current state of the club's finances and fears Rangers would not be in a position to pay up if the court eventually rules in his favour.

 

He told the court Rangers have sold 23,000 season tickets this season, down 15,000 on last season.

 

Mr McBrearty said the Rangers board's latest plans for a share issue may only raise ?3.6m and cover part of the club's obligations.

 

He added: "There is a significant hole in the club's finances for the forthcoming season."

 

This is the game changer IMHO

Edited September 3, 2014 by bungalow

[AllyjamboDerbyshire]

"Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have ?620,000 of club assets frozen.

 

Lawyers acting for Mr Ahmad claim he is owed a ?500,000 bonus for the time he spent working at the Ibrox club.

 

The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent.

 

Lord Stewart continued the case to Friday when lawyers for Rangers will address the court.

 

Mr Ahmad, who has twice lost court bids to have Rangers' assets ring-fenced, claims he is owed ?500,000 for negotiating deals and wants another ?120,000 to cover legal expenses.

 

Advocate Kenny McBrearty QC told Lord Stewart that Mr Ahmad is concerned about the current state of the club's finances and fears Rangers would not be in a position to pay up if the court eventually rules in his favour.

 

He told the court Rangers have sold 23,000 season tickets this season, down 15,000 on last season.

 

Mr McBrearty said the Rangers board's latest plans for a share issue may only raise ?3.6m and cover part of the club's obligations.

 

He added: "There is a significant hole in the club's finances for the forthcoming season."

Could you tell us where this quote comes from? It's really rather interesting!

[Victor Meldrew]

 

Save Sevco ... Buy a brick, handy for throwing through windows etc ...

 

That's just crying out to be Photoshopped

[jambovambo]

 

 

Could you tell us where this quote comes from? It's really rather interesting!

http://www.bbc.co.uk/news/uk-scotland-29050877

 

[The Gasman]

 

 

Lord Stewart will have no option but to now freeze the ?650k the evidence that The Rangers or in a parlous financial state cannot be denied.

 

That's assuming that there is ?650k left for the Courts to actually freeze..!

[kingdannyb]

DieSevcoDieDieDie !

[The Comedian]

 

http://www.bbc.co.uk/news/uk-scotland-29050877

 

 

Imran the man to send they down?

 

He's a trier, I'll give him that.

[Paolo]

 

 

 

Imran the man to send they down?

 

He's a trier, I'll give him that.

 

They can't possibly turn it down this time.

[Shrekeo]

I pray for the day when Paul Baxendale-Walker comes back to the fore......

 

What a guy!!!!

[Toxteth O'Grady]

 

 

They can't possibly turn it down this time.

 

I hope you are right, common sense says you should be right but Lord Nimmo Smith came to the conclusion that Oldhuns gained no sporting advantage by luring top players to play for them with EBT's. Courts and Law and common sense doesn't seem to apply with the funny handshake boys

Edited September 3, 2014 by Toxteth O'Grady

[RobNox]

Right, thanks FF. So they aren't yet doomed if the share issue fails but time is certainly against them. Seems like the last thing the current board want is to go into admin, lose all their investment to date and have someone like King pick up the pieces for next to nowt. So they'll need to get cash from somewhere, if it isn't Ashley then they'll maybe need to grin and bear it and get into bed with King. But if he'd rather start with a clean slate?...

I think there are several among the spiv element of the current shareholders who would rather avoid the scrutiny that administration would bring. I imagine we would find out the truth about where all the IPO money ended up and the nature of the onerous service contracts.

[Sidsnot]

This is the game changer IMHO

Spot on bud but if he wins in court then who pays him?

Seriously,they are skint,word is they have 6 weeks cash left after which they are kaput,entirely.

[Angry Haggis]

 

 

 

 

Imran the man to send they down?

 

He's a trier, I'll give him that.

 

The iceberg to the good ship trfc and all that sail in her.

 

Yes, potential game over indeed.

 

[marquis]

 

 

 

Lord Stewart will have no option but to now freeze the ?650k the evidence that The Rangers or in a parlous financial state cannot be denied.

I wouldn't bet on that. Suspect Ahmad will be told to get on his bike again.

[Deevers]

Funnily enough I was speaking with an accountant chum through west yesterday who is also a Hun. He was very depressed about things at Ibrox and reckoned that even with a full take up of the shares that things were looking bleak. This news about Imran should finish them. After the statement by Wallace prior to the Share Offer there is no way anyone couldn't think that insolvency was a distant prospect. Wallace himself has admitted that it's on the cards. The next few days will be very interesting.

Edited September 3, 2014 by Deevers

[Mark_Mywords]

They can't possibly turn it down this time.

 

Not only that, recent events have proved that they lied the previous time regarding income.