RobNox Posted September 3, 2014 Share Posted September 3, 2014 Save Sevco ... Buy a brick, handy for throwing through windows etc ... Looks like they made a typo in the heading of that poster! Also, not sure about the final statement, maybe replace Ibrox with Tesco? Link to comment Share on other sites More sharing options...
Shanks said no Posted September 3, 2014 Share Posted September 3, 2014 Oh dear, they are on deep doo doo.. Given this is clearly an official document which demonstrates that "rangers" may not see out the season, I have to ask why are they not being called in to Hampden to explain their position? It makes me think back to how Livingston were treated...................... http://news.bbc.co.uk/sport1/hi/football/teams/l/livingston/8179998.stm Link to comment Share on other sites More sharing options...
RobNox Posted September 3, 2014 Share Posted September 3, 2014 Given this is clearly an official document which demonstrates that "rangers" may not see out the season, I have to ask why are they not being called in to Hampden to explain their position? It makes me think back to how Livingston were treated...................... http://news.bbc.co.u...ton/8179998.stm Very interesting reading, so why has Sevco not been asked to put up a bond in order to fulfil its remaining fixtures? Link to comment Share on other sites More sharing options...
DETTY29 Posted September 3, 2014 Share Posted September 3, 2014 Very interesting reading, so why has Sevco not been asked to put up a bond in order to fulfil its remaining fixtures? Surely the same should have been the same for us at our initial share offer to raise ?1.8m? It looks as if a share issue is a sufficient guarantee to the football authorities that funding will be in place. Link to comment Share on other sites More sharing options...
Wilson Posted September 3, 2014 Share Posted September 3, 2014 Keith Jackson just tweeted that there's news coming... Link to comment Share on other sites More sharing options...
jamboinglasgow Posted September 3, 2014 Share Posted September 3, 2014 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. The fact that they have put this as a share option not to rebuild the club back to a secure financial future but instead just to keep the current status quo going in the short term and then hope a huge injection of funds comes later (with the main plan being an even bigger share issue, on top of the two already done) as an investor you would question when you get a return on your investment. Its a large gamble, to make a suitable return you need Rangers to get back to a financial stable position (which with the current direction looks like keeping a high wage budget and high director payouts) so it requires to get back into the premiership, which will bring some money back but you dont get much in the way of tv revenue (?2m really maximum) so crowds would need to be full, but with making a loss in 4th tier football with large crowds then its only going to get worse. The fans require performances on the pitch to keep them coming back, which requires increased spending, to match Celtic you have spend huge amounts. So costs rise by a huge amount, the large cash injection you need is from champions league football, so not only do you have to compete with Celtic to get that qualification place but you have to challenge in qualifying rounds to get into it (which Celtic showed that if you skimp on proper investment in the playing side it is very difficult to get through.) All in all it points to one thing, you need large amounts of money under the current model to be sustainable. Money they are not going to get, so an investor is unlikely to make a return from their investment (unless your a spiv who got 1p shares, so you can sell then on for 20p a share and make great return for that.) The only people who would take up this share issue are investors with questionable motives which should make Rangers fans even more fearful. I think it does point to an end game for Rangers, either an insolvency event where the stadium and property assets go to the spivs are rented back to a Rangers who come out of admin, or do the board sell the property and lease it back claiming they had no other option but to do that and save the club from insolvency. That makes me thing the board are engineering this for that outcome, as I dont understand why a club which gives a warning of insolvency unless they get a few million was not trying to sell players in the last few days of the window. Link to comment Share on other sites More sharing options...
Jamboelite Posted September 3, 2014 Share Posted September 3, 2014 (edited) Every time i've thought Imran had a case to ring fence this it was knocked back but surely this time there is no argument. Edited September 3, 2014 by Jamboelite Link to comment Share on other sites More sharing options...
scott_jambo Posted September 3, 2014 Share Posted September 3, 2014 DieSevcoDieDieDie ! Link to comment Share on other sites More sharing options...
jamboinglasgow Posted September 3, 2014 Share Posted September 3, 2014 Keith Jackson just tweeted that there's news coming... just said that the record has a Q&A with Sandy Easdale but thats not that half of it. Link to comment Share on other sites More sharing options...
Jambo 4 Ever Posted September 3, 2014 Share Posted September 3, 2014 Keith Jackson just tweeted that there's news coming... When is it going to come? Has he given any clues what it is? Link to comment Share on other sites More sharing options...
Prince Buaben Posted September 3, 2014 Share Posted September 3, 2014 When is it going to come? Has he given any clues what it is? Top of the photo Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
CJGJ Posted September 3, 2014 Share Posted September 3, 2014 Ibrox naming rights sold for just ?1 is the story of the night Link to comment Share on other sites More sharing options...
graygo Posted September 3, 2014 Share Posted September 3, 2014 (edited) Fake? Or what could be the reason? Edit: Too slow again. Edited September 3, 2014 by graygo Link to comment Share on other sites More sharing options...
Don Dan Posted September 3, 2014 Share Posted September 3, 2014 Ibrox naming rights sold for just ?1 is the story of the night That will help clear the debts!! Link to comment Share on other sites More sharing options...
jamboinglasgow Posted September 3, 2014 Share Posted September 3, 2014 Fake? Or what could be the reason? Edit: Too slow again. only thing I could think is that to pay off the loan, it has been agreed that it will be forgiven in exchange for the naming rights to Ibrox and a token ?1. Link to comment Share on other sites More sharing options...
Jamboelite Posted September 3, 2014 Share Posted September 3, 2014 Ibrox naming rights sold for just ?1 is the story of the night Whats to gain by doing that? Link to comment Share on other sites More sharing options...
Wilson Posted September 3, 2014 Share Posted September 3, 2014 The Poundstretcher Stadium...for ?1.00 Link to comment Share on other sites More sharing options...
graygo Posted September 3, 2014 Share Posted September 3, 2014 only thing I could think is that to pay off the loan, it has been agreed that it will be forgiven in exchange for the naming rights to Ibrox and a token ?1. What Loan? The only person I can think of who might want the naming rights is Mike Ashley, he doesn't have a loan with them does he? Money in the back door? Propping up this share issue? Link to comment Share on other sites More sharing options...
RobNox Posted September 3, 2014 Share Posted September 3, 2014 only thing I could think is that to pay off the loan, it has been agreed that it will be forgiven in exchange for the naming rights to Ibrox and a token ?1. Or maybe it's wee Craigy getting his original investment back? So it will be called Eyes Broke stadium from now on! Link to comment Share on other sites More sharing options...
jamboinglasgow Posted September 3, 2014 Share Posted September 3, 2014 What Loan? The only person I can think of who might want the naming rights is Mike Ashley, he doesn't have a loan with them does he? Money in the back door? Propping up this share issue? The loan that kept them afloat, I think originally it was the Easdales who were the ones being loaned from so their bus company could get sponsorship. But wasn't there also a fan who offered to loan the money, maybe he has a company. Link to comment Share on other sites More sharing options...
Refreshment Barrier Posted September 3, 2014 Share Posted September 3, 2014 I am prepared to double that offer to ?2 to get the naming rights Any suggestions - 10p a shot Link to comment Share on other sites More sharing options...
Jambo 4 Ever Posted September 3, 2014 Share Posted September 3, 2014 What Loan? The only person I can think of who might want the naming rights is Mike Ashley, he doesn't have a loan with them does he? Money in the back door? Propping up this share issue? Why would mike Ashley do it though? Link to comment Share on other sites More sharing options...
The Comedian Posted September 3, 2014 Share Posted September 3, 2014 Yep, looks like a debt was called in and this is the result. The new owner of the name can now punt it on. IMO. Link to comment Share on other sites More sharing options...
Jamboelite Posted September 3, 2014 Share Posted September 3, 2014 Yep, looks like a debt was called in and this is the result. The new owner of the name can now punt it on. IMO. I guess the question is who's debt??, if its the Easdales then the pressure on the share take up isnt as bad as all the money will allow the can to be kicked further. Link to comment Share on other sites More sharing options...
scottg71 Posted September 3, 2014 Share Posted September 3, 2014 Oh it's getting interesting again Link to comment Share on other sites More sharing options...
RobNox Posted September 3, 2014 Share Posted September 3, 2014 What Loan? The only person I can think of who might want the naming rights is Mike Ashley, he doesn't have a loan with them does he? Money in the back door? Propping up this share issue? But he might offer to pay off the other shareholder loans in return for the naming rights. But that wouldn't square with paying ?1 for the rights, as he will have paid ?1.5m to clear the loans, so you would think Rangers would announce a ?1.5m deal for the naming rights. Unless he offered to assume those loans, on extended payment terms, in return for the naming rights, rather than pay the loans off. Then again, it could be anything, who knows what the hell is going on at Sevco! Link to comment Share on other sites More sharing options...
CJGJ Posted September 3, 2014 Share Posted September 3, 2014 Whats to gain by doing that? Underwrite the share issue in return for the naming rights ?,,, Sports Direct Ibrox Stadium is the name doing the rounds or the Iborx Sports Direct Arena/Stadium Link to comment Share on other sites More sharing options...
Footballfirst Posted September 3, 2014 Share Posted September 3, 2014 I guess the question is who's debt??, if its the Easdales then the pressure on the share take up isnt as bad as all the money will allow the can to be kicked further. McGills Bus Stadium and Albion Garage? Link to comment Share on other sites More sharing options...
graygo Posted September 3, 2014 Share Posted September 3, 2014 The loan that kept them afloat, I think originally it was the Easdales who were the ones being loaned from so their bus company could get sponsorship. But wasn't there also a fan who offered to loan the money, maybe he has a company. Fair enough, I would expect whoever gets to rename it will suffer some sort of backlash from ra peepul though. Link to comment Share on other sites More sharing options...
jambovambo Posted September 3, 2014 Share Posted September 3, 2014 Twitter meltdown - put ibrox in ... Link to comment Share on other sites More sharing options...
2NaFish Posted September 3, 2014 Share Posted September 3, 2014 Apparently the naming rights to ibrox have been sold for a buck? Link to comment Share on other sites More sharing options...
RobNox Posted September 3, 2014 Share Posted September 3, 2014 Just checking the Bears Den for reaction, second post in and this gem appears... End of the day, we will all still know it was Ibrox which is the most important thing and it'll mean that we can get some MUCH needed investment in. 5 years ago I'd have told Ashley to go **** himself but sadly we aren't the same club with class as we used to be. The truth is we are a joke and a laughing stock at the moment and it absolutely kills me to say it. Good to see delusion still reigns! Link to comment Share on other sites More sharing options...
jamboinglasgow Posted September 3, 2014 Share Posted September 3, 2014 daily record are putting the story online soon. Link to comment Share on other sites More sharing options...
Mark_Mywords Posted September 3, 2014 Share Posted September 3, 2014 (edited) It looks like it's Mike Ashley investing in the club, but not via the usual shares method. Sports Direct can't invest a high amount of cash for naming rights, due to the ownership of the Ibrox stadium asset being in doubt.... hence the low sum of a ?1. Ashley can't simply buy more shares at it would be breaking the SFA rules. My guess that Ashley has put up the money to pay off the loans in return for naming rights. If they sold the naming rights for say 1M +, Whyte would be onto his solicitors pronto. Edited September 3, 2014 by Mark_Mywords Link to comment Share on other sites More sharing options...
chrisyboy Posted September 3, 2014 Share Posted September 3, 2014 I thought being a Jambo was tough but ffs. They are goosed!! Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
Eldar Hadzimehmedovic Posted September 3, 2014 Share Posted September 3, 2014 This is delish. They're seething. Link to comment Share on other sites More sharing options...
2NaFish Posted September 3, 2014 Share Posted September 3, 2014 Something very knowing that we've won the last ever hearts vs rangers match to be played at Ibrox. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted September 3, 2014 Share Posted September 3, 2014 I look forward to playing our first game at the Sports Direct Arena later in the season! Link to comment Share on other sites More sharing options...
Rods Posted September 3, 2014 Share Posted September 3, 2014 Seemingly it's not going to be renamed until they are promoted. Link to comment Share on other sites More sharing options...
Harry Palmer Posted September 3, 2014 Share Posted September 3, 2014 Should be the article in question. http://www.dailyreco...-ashley-4161063 Link to comment Share on other sites More sharing options...
Jamboelite Posted September 3, 2014 Share Posted September 3, 2014 (edited) http://www.dailyrecord.co.uk/sport/football/prospective-rangers-owner-mike-ashley-4161063 So it was a deal done 2 years ago ??? And this http://www.dailyrecord.co.uk/sport/football/big-interview-keith-jackson-speaks-4161079 Edited September 3, 2014 by Jamboelite Link to comment Share on other sites More sharing options...
Gavsy Van Gaverson Posted September 3, 2014 Share Posted September 3, 2014 2 Years ago. They really are fecked Link to comment Share on other sites More sharing options...
jamboinglasgow Posted September 3, 2014 Share Posted September 3, 2014 http://www.dailyrecord.co.uk/sport/football/prospective-rangers-owner-mike-ashley-4161063 There is the story, Charles Green two years ago sells the naming rights to Mike Ashley for ?1, then spends ?250k trying to get the contract over turned and find out the contract is watertight. Mike Ashley can change name when he wants at a moments notice. Easdale in the meantime says that he will put his own money into the share issue, and he cant rule out selling Murray Park to raise money. http://www.dailyrecord.co.uk/sport/football/big-interview-keith-jackson-speaks-4161079 Easdales interview is interesting. Link to comment Share on other sites More sharing options...
Gavsy Van Gaverson Posted September 3, 2014 Share Posted September 3, 2014 (edited) The deal kicks in if they get promoted, Green sold it to Ashley ages ago but it was kept secret to keep the Huns onside, green owns other rights & will coin it in through them too. If anybody thought green was away, think again. He's firmly in the shadows & still calling the shots.. The article says Ashley could rename Ibrox tomorrow if he wanted. He said: ?Let?s clear this up, the Sports Direct Arena. Charles Green had already done a deal with Mike on that. Sports Direct haven?t taken it up as yet. Mike Ashley could call it the Sport Direct Arena tomorrow.? Edited September 3, 2014 by Gavsy Van Gaverson Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted September 3, 2014 Share Posted September 3, 2014 Can MA sell the rights on himself and trouser a tidy profit? Link to comment Share on other sites More sharing options...
berrasbraw Posted September 3, 2014 Share Posted September 3, 2014 Can MA sell the rights on himself and trouser a tidy profit? sell for ?2 would be a profit oooft. Link to comment Share on other sites More sharing options...
Jamboelite Posted September 3, 2014 Share Posted September 3, 2014 Can MA sell the rights on himself and trouser a tidy profit? Yup sounds like its his to do with as he wants. Sell it back to Rangers for ?2m haha Link to comment Share on other sites More sharing options...
the jambo poet Posted September 3, 2014 Share Posted September 3, 2014 Well how juicy is all that ?? I, including the rest of the world, thought for a moment that there was another twist, a saviour if you like, but wow just wow that deal was done 18 months ago and rangers got a paltry ?1 .. And Charles green? Well who knows lol he's riding off into the sunset having made a complete mint from the carcass. For a moment there i thought a deal had been done re the shares etc and they'd live to sing another no surrender once more but alas the spivs just keep engineering new ways of making money. I give them this they clearly know what they are doing. Welcome Bears to the sports direct den !!! Link to comment Share on other sites More sharing options...
leginten Posted September 3, 2014 Share Posted September 3, 2014 Anyone got any suggestions as to the renaming of the stadium? Link to comment Share on other sites More sharing options...
Rabbie_Burns Posted September 3, 2014 Share Posted September 3, 2014 Well at least they get to keep their club colours... :-) Link to comment Share on other sites More sharing options...
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