Clerry Jambo Posted September 5, 2014 Share Posted September 5, 2014 Rangers will be promoted...they arra peepul Link to comment Share on other sites More sharing options...
jamboruss Posted September 5, 2014 Share Posted September 5, 2014 High quality lies ; Summers added: "Talks are at an advanced stage with two potential investors. The club has not been in rude health for some time. But the situation is improving. The club is trading its way out of difficulties. It's current position is the envy of many English Premiership clubs. "It is moving upwards through the leagues. The plan is for it to return into the Scottish Premiership and into the promised land of European competition where there is big money to be made through gate money, television rights and the like." Perjury? Link to comment Share on other sites More sharing options...
Footballfirst Posted September 5, 2014 Share Posted September 5, 2014 The coplandroad.org website may have unearthed one of the "onerous contracts". (one of the more sensible and reasonable Rangers blogs) http://www.thecoplandroad.org/2014/09/what-was-mike-ashleys-preferred-pr-firm.html Link to comment Share on other sites More sharing options...
Allowayjambo1874 Posted September 5, 2014 Share Posted September 5, 2014 (edited) That sounds about right based on the numbers quoted in today's court case. They had ?1.2m in the bank, of which ?600k has now been ring fenced for Ahmed. That would barely, if at all cover their normal monthly overspend. If the share offer fails, then the next big test will be meeting September payroll. Assuming wages are paid at the end of the month, they have a home cup tie against ICT, who will receive half of the gate receipts than a home league match against Hibs just before the end of the month. That might give them enough to cover the wages for September, but they won't be in a position to meet October payroll unless they bring in additional funds. Bear in mind they also have outstanding shareholder loans of ?1.5m that are now overdue. Easdale stated in his 'grilling' by Keith Jackson that he was willing to let his ?500k loan ride, but apparently Letham, who is owed ?1m, only very reluctantly agreed to an extension, and may be less willing to let that continue, given the perilous state of the finances. If you give any credence to what PMcGB posts, according to him they have a few other outstanding bills. So if the share issue fails, unless someone else comes forward to provide additional funding, it's difficult to see them staying afloat for much more than a few more weeks. Someone posted earlier that they reckoned pay was on last Thursday of the month which means the ICT game is only income between now and next pay role. 25000 crowd probably generate maybe ?400k at best after costs which has to be split between them and ICT. If they are needing to make up shortfall of 700k per month and they only have 600k in the bank now it's going to be tight. Edited September 5, 2014 by Allowayjambo1874 Link to comment Share on other sites More sharing options...
Le Chat Posted September 5, 2014 Share Posted September 5, 2014 I'm very aroused right now. Link to comment Share on other sites More sharing options...
mrmarkus1981 Posted September 5, 2014 Share Posted September 5, 2014 I am also pretty aroused Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted September 5, 2014 Share Posted September 5, 2014 And I. Link to comment Share on other sites More sharing options...
Harry Palmer Posted September 5, 2014 Share Posted September 5, 2014 http://www.rangers.c...-club-statement RANGERS Football Club has tonight released the following statement: ?Further to the Stock Exchange announcement regarding the court action taken by Imran Ahmad against Rangers, whatever the outcome of the court process, we agree with Judge Lord Stewart when he told the court: 'This does not mean to say that insolvency is an actuality or is going to happen.' Link to comment Share on other sites More sharing options...
Dean Winchester Posted September 5, 2014 Share Posted September 5, 2014 http://www.rangers.c...-club-statement :lol: :lol: Link to comment Share on other sites More sharing options...
kingdannyb Posted September 5, 2014 Share Posted September 5, 2014 RANGERS Football Club has tonight released the following statement: ?Further to the Stock Exchange announcement regarding the court action taken by Imran Ahmad against Rangers, whatever the outcome of the court process, we agree with Judge Lord Stewart when he told the court: 'This does not mean to say that insolvency is an actuality or is going to happen.'" Link to comment Share on other sites More sharing options...
Currahee! Posted September 5, 2014 Share Posted September 5, 2014 I'll admit I've no idea what this means but does this mean my ?51 on us at 7/2 look good? Link to comment Share on other sites More sharing options...
RobNox Posted September 5, 2014 Share Posted September 5, 2014 Someone posted earlier that they reckoned pay was on last Thursday of the month which means the ICT game is only income between now and next pay role. 25000 crowd probably generate maybe ?400k at best after costs which has to be split between them and ICT. If they are needing to make up shortfall of 700k per month and they only have 600k in the bank now it's going to be tight. Given that the c ?700k average monthly shortfall is after an average month's income, when they would expect to average 2 home league games, and all they have this month is one home, mid-week cup tie, then it looks like they have no chance of meeting September payroll unless someone stumps up the shortfall pending receipt of the money from the Hibs game. Link to comment Share on other sites More sharing options...
SUTOL Posted September 5, 2014 Share Posted September 5, 2014 http://www.rangers.c...-club-statement They now have a known debts of ?1.5 million and access to about ?600,00 to pay it. They are insolvent. Link to comment Share on other sites More sharing options...
RobNox Posted September 5, 2014 Share Posted September 5, 2014 RANGERS Football Club has tonight released the following statement: ?Further to the Stock Exchange announcement regarding the court action taken by Imran Ahmad against Rangers, whatever the outcome of the court process, we agree with Judge Lord Stewart when he told the court: 'This does not mean to say that insolvency is an actuality or is going to happen.'" Well at least they agree with the judge on one point Link to comment Share on other sites More sharing options...
Jammy T Posted September 5, 2014 Share Posted September 5, 2014 The coplandroad.org website may have unearthed one of the "onerous contracts". (one of the more sensible and reasonable Rangers blogs) http://www.thecoplandroad.org/2014/09/what-was-mike-ashleys-preferred-pr-firm.html Wow A proper and total stitch up. I've kind of always wondered how asset stripping at a football club would work beyond transfer fees and an overinflated CEO salary. Sevco have provided a complete masterclass. Link to comment Share on other sites More sharing options...
hawaii Posted September 5, 2014 Share Posted September 5, 2014 SFA to pay Sevco a couple of million in advance of them hosting a Scotland qualifier at some point in the future - just don't tell anyone. Campbell Ogilvie If there is a way for our 2 governing bodies to grant them special dispensation you can bet your last ?580k that they will do so I just hope that someone in Glasgow outs the 5 way agreement this weekend and mass resignations occur Link to comment Share on other sites More sharing options...
Bazzas right boot Posted September 5, 2014 Share Posted September 5, 2014 I has a plan, The Rangers fans could sell all their no votes to yes voters, club together and bail the club out again. Win- Win Situation. Link to comment Share on other sites More sharing options...
Maple Leaf Posted September 5, 2014 Share Posted September 5, 2014 If the Rangers default on players' wages, the punishment is a registration ban. That seems like a mild enough punishment, and probably wouldn't hurt them at all. Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted September 5, 2014 Share Posted September 5, 2014 (edited) High quality lies ; Summers added: "Talks are at an advanced stage with two potential investors. The club has not been in rude health for some time. But the situation is improving. The club is trading its way out of difficulties. It's current position is the envy of many English Premiership clubs. "It is moving upwards through the leagues. The plan is for it to return into the Scottish Premiership and into the promised land of European competition where there is big money to be made through gate money, television rights and the like." Edited September 5, 2014 by alwaysthereinspirit Link to comment Share on other sites More sharing options...
Dunks Posted September 5, 2014 Share Posted September 5, 2014 No need for that sort of language Link to comment Share on other sites More sharing options...
Biffa Bacon Posted September 5, 2014 Share Posted September 5, 2014 Did they not scoop a wedge of cash from letting some rugby games on their pitch during the commonwealth games. Has thus been paid/and squandered or still to come? Link to comment Share on other sites More sharing options...
hueyview Posted September 5, 2014 Share Posted September 5, 2014 Which will happen first?. The 5 million'th view on this thread, or Rangers going t!ts up. you decide! Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted September 5, 2014 Share Posted September 5, 2014 Well, this has been an interesting start to my Saturday morning! Link to comment Share on other sites More sharing options...
Inver_Jambo Posted September 5, 2014 Share Posted September 5, 2014 (edited) http://www.rangers.c...-club-statement http://www.rangers.c...re-court-order? They're manning the panic stations. Getting texts saying Admin 2 on the way tomorrow. That would be ******* glorious. Edited September 5, 2014 by Inver_Jambo Link to comment Share on other sites More sharing options...
Sooperstar Posted September 5, 2014 Share Posted September 5, 2014 http://www.rangers.c...-club-statement http://www.rangers.c...re-court-order? They're manning the panic stations. Getting texts saying Admin 2 on the way tomorrow. That would be ******* glorious. It certainly won't be tomorrow. Link to comment Share on other sites More sharing options...
The Gasman Posted September 5, 2014 Share Posted September 5, 2014 High quality lies ; Summers added: "Talks are at an advanced stage with two potential investors. The club has not been in rude health for some time. But the situation is improving. The club is trading its way out of difficulties. It's current position is the envy of many English Premiership clubs.? "It is moving upwards through the leagues. The plan is for it to return into the Scottish Premiership and into the promised land of European competition where there is big money to be made through gate money, television rights and the like." I'd've thought that must be bloody close to being contempt of court..! Link to comment Share on other sites More sharing options...
Rods Posted September 5, 2014 Share Posted September 5, 2014 Been on a couple of their fan sites it's rather amusing. The one comment about the board being at Imran's party made m laugh. Link to comment Share on other sites More sharing options...
RobNox Posted September 5, 2014 Share Posted September 5, 2014 http://www.rangers.c...-club-statement http://www.rangers.c...re-court-order? They're manning the panic stations. Getting texts saying Admin 2 on the way tomorrow. That would be ******* glorious. Just read the statement.... ?Further to the Stock Exchange announcement regarding the court action taken by Imran Ahmad against Rangers, whatever the outcome of the court process, we agree with Judge Lord Stewart when he told the court: 'This does not mean to say that insolvency is an actuality or is going to happen.'" The fact that they don't elaborate on this is telling in itself. They don't go on to placate concerned supporters by explaining why an insolvency event is not going to happen, or why they think the judge made the wrong decision, or why they are confident they can successfully appeal the judgement. Instead, they just quote some words from the judge and hope that the majority of fans construe that as meaning the club isn't heading for another insolvency event. Link to comment Share on other sites More sharing options...
Australis Posted September 5, 2014 Share Posted September 5, 2014 (edited) Thought so. Edited September 5, 2014 by Jimmy Cunningham Link to comment Share on other sites More sharing options...
Tiberius Stinkfinger Posted September 5, 2014 Share Posted September 5, 2014 I hope they go into Admin for their own sake. Surely if they don't then its liquidation. Link to comment Share on other sites More sharing options...
The Gasman Posted September 5, 2014 Share Posted September 5, 2014 If the Rangers default on players' wages, the punishment is a registration ban. That seems like a mild enough punishment, and probably wouldn't hurt them at all. Someone claimed in this thread, earlier today, that Rangers have defaulted on players bonuses this week. Link to comment Share on other sites More sharing options...
Brick Tamland Posted September 5, 2014 Share Posted September 5, 2014 Google this #########. I'd be banned sine die if I posted it and deservedly so., Oh dear. Scary to think that in the 21st century this level of thinking goes on. Don't feel I'm missing out on not having twitter Link to comment Share on other sites More sharing options...
alicante jambo Posted September 5, 2014 Share Posted September 5, 2014 Are they fecked or no?Thats all I want to know. Link to comment Share on other sites More sharing options...
Gregory House M.D. Posted September 5, 2014 Share Posted September 5, 2014 Link to comment Share on other sites More sharing options...
Jamboelite Posted September 5, 2014 Share Posted September 5, 2014 (edited) Are they fecked or no?Thats all I want to know. Yes totally. Thst sfatement is an embarrassment. Edited September 5, 2014 by Jamboelite Link to comment Share on other sites More sharing options...
Australis Posted September 5, 2014 Share Posted September 5, 2014 I think it is all a con, and the guy who won the court case is part and parcel of the con. Acting under orders to get his cut when it all goes t*ts up. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted September 5, 2014 Share Posted September 5, 2014 Are the Duffers on standby to be the world's worst administrators again? Link to comment Share on other sites More sharing options...
Chad Sexington Posted September 5, 2014 Share Posted September 5, 2014 Shit just got real. Link to comment Share on other sites More sharing options...
alicante jambo Posted September 5, 2014 Share Posted September 5, 2014 Oh and I dinnae want to hear oh its no fair on the fans and all that pish.Ive suffered for the last two years listening to them and the wee teams fans about us going out the box and flats or Tesco shite. They deserve everything they get.The reason Scottish football is fecked is cause of them and their cousins adios but I just cant see Reagan and dungcaster letting them disappear a second time.Corrupt to the core Scottish football Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted September 5, 2014 Share Posted September 5, 2014 I'm looking forward to 3rd Rangers. The use of the word Third is loaded with nostalgia. Link to comment Share on other sites More sharing options...
Victor Meldrew Posted September 5, 2014 Share Posted September 5, 2014 The very fact that they're fighting this shows how tight things are down Ibrox way. It's quite common in litigation for a party to take steps to make sure that the other side preserves its assets, so that a judgment can be enforced. In most cases, it's dealt with by agreement: the party being sued agrees to put arrangements in place that safeguard the funds in question. Given that the trial is only two months away, you would expect Rangers to agree to put aside the ?620,000 until the trial. The fact that they haven't done so, and have incurred substantial costs in trying to avoid it shows how much difficulty they're in. They clearly have major cash-flow problems. Link to comment Share on other sites More sharing options...
2NaFish Posted September 5, 2014 Share Posted September 5, 2014 Someone claimed in this thread, earlier today, that Rangers have defaulted on players bonuses this week. Was that not just a confusion with Killie? Link to comment Share on other sites More sharing options...
Ron Swanson Posted September 5, 2014 Share Posted September 5, 2014 Simply the bust Link to comment Share on other sites More sharing options...
Restonbabe Posted September 5, 2014 Share Posted September 5, 2014 RIP, RIP rangers FC Link to comment Share on other sites More sharing options...
Craig_ Posted September 5, 2014 Share Posted September 5, 2014 Mixed feelings on this one. On the one hand, I'd like nothing more than to watch them self-destruct for a second time. Couldn't happen to a more deserving bunch. But at the same time, I'd love to watch us win the league on merit and was looking forward to battling our way to the title* * I realise this may be slightly presumtuous given nothing's actually happened yet! Link to comment Share on other sites More sharing options...
Eldar Hadzimehmedovic Posted September 5, 2014 Share Posted September 5, 2014 I won't believe they're goosed until they're actually goosed. King still makes me nervous. If he can find the will and the dough, the authorities will make sure there's a way. 'Rules' will mean feck all in that situation. Link to comment Share on other sites More sharing options...
Andrew Gilbert Wauchope Posted September 5, 2014 Share Posted September 5, 2014 It's being dressed up like some sort of takeover scenario. I suppose it will shift some copies of the Record on various building sites around the country but the Hun masses will end up disappointed. Again. He has just helped himself to a bit of the club and likely couldn't give two ****s about the rest. And I thought me and Ashley had nothing in common..... Link to comment Share on other sites More sharing options...
wibble Posted September 5, 2014 Share Posted September 5, 2014 I won't believe they're goosed until they're actually goosed. King still makes me nervous. If he can find the will and the dough, the authorities will make sure there's a way. 'Rules' will mean feck all in that situation. He won't touch them until they go bust again. He wants full control, and on the cheap. By then Ibrox will be safe in the hands of Greene or the Easdales. Link to comment Share on other sites More sharing options...
Brandt Posted September 5, 2014 Share Posted September 5, 2014 He won't touch them until they go bust again. He wants full control, and on the cheap. By then Ibrox will be safe in the hands of Greene or the Easdales. Seems like it. King wont want nothing to do with them if Ibrox isnt in his hands. Game over for Rangers you would think. Link to comment Share on other sites More sharing options...
Mikey1874 Posted September 5, 2014 Share Posted September 5, 2014 In denial. Link to comment Share on other sites More sharing options...
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