The Rangers soap opera goes on and on.

[Paolo]

 

 

That's the strength of this clumsy blackmail attempt by them. The orange pound buys large volumes of white spots socks.

 

Other news.

Unconfirmed rumour has it that ..

Yesterday ?1broke ground staff were told that there is only enough cash to pay the players wages & not theirs.

 

I do hope this is untrue, most will have families to feed on relatively low wages.

 

I hope it is not true either. Regardless, it shows a flaw in the SPFL wages rule (which would have applied to us, too). If they do not pay the players, they face sanctions. If they pay the players, but no-one else, they don't. Not a difficult choice for them, if they have to pick and choose who to pay and not to pay.

[Unknown user]

They are wasting money buying up shares so apparently strengthen their position? If they were better organised they should bank it and wait post admin and try and buy the club outright! all they have done is lined somebody else's pockets to buy shares that in reality are worth nout!!!! They just don't get it do they!

To be fair this is a similar choice to what many fans faced with Romanov's last share issue.

 

I got talked out of buying shares by a friend for exactly the reason that it would be propping up that regime and would slow down a change of ownership. Having the money in my bank and not handing it over was one of the hardest things I've ever done. It was close a couple of times and I didn't want to come one and persuade others to withhold their cash, I just felt that I had to do it. (It all went to FoH in the end)

 

I totally get why fans' groups are making emotional and seemingly insensible moves like this just now. When your club sends out a distress call, it's hard to ignore it, even with the best intentions in the world.

[Footballfirst]

I've seen comments from journalists (I know) interpreting Lord Stewart's comments both ways.

 

On reflection, the ring fencing should remain in place until the appeal is heard. Certainly in criminal cases if you are found guilty, then you remain guilty (including custodial sentences) until any appeal.

[Hagar the Horrible]

Bit of a conflict here? Lord Stewart asks #Rangers QC why fight freeze if only an 'inconvenience'? #Rangers QC struggles to answer.

 

and then this:

Sportsmail ?@ScotMailSport 2m

?620,000 cash apparently no longer ring-fenced - judge hopes both parties can come to arrangement regarding a security over the money owed. What security? ?1brox?

 

I am not sure this is true???/ I would prefer corroboration on this one?

[Paolo]

According to Oddschecker, Betdaq have cut the odds on us winning the league to 1/2. Interesting, particlularly as the owner a certain Mr Desmond may just have some info.

The shortest odds I see is evens, longest 7/5.

 

 

**EDIT** I now see 1.88 on Betdaq, compared to 1.76 for Rangers. It was not showing on odds checker though.

 

I think, also, they are a betting exchange.

Edited September 9, 2014 by Claudia

[UnbelievableJeff]

Betdaq were 5/6 this morning. No one has us as favourites. Betdaq are the only bookie who has us odds on.

Edited September 9, 2014 by UnbelievableJeff

[Paolo]

Betdaq were 5/6 this morning. No one has us as favourites. Betdaq are the only bookie who has us odds on.

Yep. Just edited my post.

[I P Knightley]

Reading between Jacksons lines:

 

"Aaaargh, help! I may actually have to bother going to other clubs, gulp, OUTSIDE OF GLASGOW, to do some reporting!!1!!!"

 

"... Ones where there's no lamb at all!!"

[I.T.K]

What is stopping them spending the money that has been ring fenced.

 

Good faith, or is it physically blocked by the bank?

[Kinkster]

Betdaq were 5/6 this morning. No one has us as favourites. Betdaq are the only bookie who has us odds on.

 

If you look at betting history on oddschecker, you can see Betdaq cutting odds to 4/7 first thing this morning. Only bookie/exchange to do so.

Edited September 9, 2014 by Kinkster

[Samster]

Newsflash. Rangers are in our league.

 

This little nugget nearly got lost there. Are you honestly trying to say our crowd against Falkirk is because Rangers are in the league and not because we have the most exciting Hearts team for a generation?

[Guest Bilel Mohsni]

 

Send in Vanilla Ice

 

Brilliant!

 

Was it not send in MC Hammer, though?

 

RIP Bill.

[We_are_the_Hearts]

This little nugget nearly got lost there. Are you honestly trying to say our crowd against Falkirk is because Rangers are in the league and not because we have the most exciting Hearts team for a generation?

 

Nothing would surprise me when it comes to this poster and the subject of Sevco. Seems a reasonable poster apart from that subject for some reason???

[FWJ]

 

What is stopping them spending the money that has been ring fenced.

 

Good faith, or is it physically blocked by the bank?

I don't know - maybe contempt of court or something if they do?

 

Mind you it's a civil as opposed to a criminal court. So ..... Don't know!

[Unknown user]

Brilliant!

 

Was it not send in MC Hammer, though?

 

RIP Bill.

"Hello Hammer. Back again huh?"

 

RIP indeed

[Toonpack]

Evidently -

 

They are still legally obliged to have the cash set aside

 

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-29126451

[Statts1976uk]

So nothing really has changed regarding Ahmed, they still have to ringfence the money and therefore unavailable to them. The appeal might not even be heard until November.

[Mikey1874]

Pretty woeful position for such a big club to get itself in.

[Don Dan]

Anyone know what the "error of law" is exactly?

 

The club's QC Alan Summers told the court that Lord Stewart had taken a different view to two other law lords who have already examined the case and found there was no "substantial risk" of the club going bust.

 

Lord Stewart has been presented with a different set of accounts and a totally different bank balance than the first two Law Lords so it's obvious he will come to a different conclusion. Has this QC Summers actually got a grip of the The Rangers finances.

Edited September 9, 2014 by Dannie Boy

[Stupid Sexy Flanders]

 

 

This little nugget nearly got lost there. Are you honestly trying to say our crowd against Falkirk is because Rangers are in the league and not because we have the most exciting Hearts team for a generation?

 

I was confused by the post you've quoted, is that really what he's getting at?!

[Hagar the Horrible]

 

Anyone know what the "error of law" is exactly?

 

The club's QC Alan Summers told the court that Lord Stewart had taken a different view to two other law lords who have already examined the case and found there was no "substantial risk" of the club going bust.

 

Lord Stewart has been presented with a different set of accounts and a totally different bank balance than the first two Law Lords so it's obvious he will come to a different conclusion. Has this QC Summers actually got a grip of the The Rangers finances.

I gave a proper handshake and a full manila envelope yet you went against me Brother!

[Jamboman1512]

Pretty woeful position for such a big club to get itself in.

 

The old dead club were big, this new one is just pretending to be big to please the hordes which is why they are donald ducked.

[I.T.K]

Are Rangers disputing the payment to Ahmed?

 

Not sure why they just don't pay him.................... well apart from the fact they don't have any money?

[Samster]

deleted

Edited September 9, 2014 by Samster

[Samster]

I was confused by the post you've quoted, is that really what he's getting at?!

It was effectively this chain of quotes in response to the Jackson article.

 

kingdannyb, on 08 September 2014 - 10:11 PM, said:

 

"Fans are staying away because Scottish football has become such a barren, ?desolate landscape that it no longer interests them"

 

He's just making stuff up.

trotter, on 09 September 2014 - 12:17 AM, said:

 

16,600-ish at Tynecastle to see Falkirk if i remember rightly? Oh aye, right you are.

 

######.[/font][/size]

scott_jambo, on 09 September 2014 - 12:33 AM, said:

 

Newsflash. Rangers are in our league.[/color]

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[DETTY29]

Are Rangers disputing the payment to Ahmed?

 

Not sure why they just don't pay him.................... well apart from the fact they don't have any money?

His contract is a hand written note from Charles Green.

 

Chucky Boy may have a full note pad and several pens.

[trotter]

 

It was effectively this chain of quotes in response to the Jackson article.

 

 

kingdannyb, on 08 September 2014 - 10:11 PM, said:

 

"Fans are staying away because Scottish football has become such a barren, ?desolate landscape that it no longer interests them"

 

He's just making stuff up.

trotter, on 09 September 2014 - 12:17 AM, said:

 

16,600-ish at Tynecastle to see Falkirk if i remember rightly? Oh aye, right you are.

 

######.[/font][/size]

 

scott_jambo, on 09 September 2014 - 12:33 AM, said:

 

Newsflash. Rangers are in our league.[/color]

• Quote
  
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Yeah, I filed that one under 'ignore'. Rangers being in the league has no outcome whatsoever on out attendances. That is solely down to an exciting team, playing attractive football circa 2005.

[Footballfirst]

Confirmation that the ?620K remains arrested

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=12077818

 

RNS Number : 2224R

Rangers Int. Football Club PLC

09 September 2014

?

 

9 September 2014

 

Rangers International Football Club plc

("Rangers" the "Club" or the "Company")

 

Statement re. Court of Session Decision of 9 September 2014

 

The Company confirms that the Court of Session in Edinburgh has granted the Company Leave to Appeal the Court's decision to grant an order allowing Mr Ahmad to arrest funds in Rangers bank account or the accounts of others who may be due to pay sums to Rangers. He sought this order in connection with a claim against the Rangers Football Club Limited for alleged unpaid bonuses in the amount of ?500,000.

 

This is a procedural step in the appeal process and the court has not yet considered the merits of the appeal. If the appeal is successful, the Court's decision of 5 September 2014 will be overturned and the funds arrested will be released.

 

For further information please contact:

 

Rangers International Football Club plc

[Hagar the Horrible]

So that is saying the funds are still arrested right? but if Imran loses the case or appeal then the funds will be returned? that's not what was said earlier???

[Hagar the Horrible]

Any hoo the time is now up for those who could take up the share value to deposit their easily earned cash with Crest? right now somebody knows if the share issue has been a success or not?????????/

[Hagar the Horrible]

Just to clarify today agreed that there can be an appeal...done, but if the appeal is a success then the funds will be released...check but with the caveat that security must be granted? If the appeal is not then they have to wait until the outcome of ahmeds case!!!!! then in late November the aactual case will be heard! if he wins he keeps the cash, if he loses then the cash is returned? clear as day

[Malinga the Swinga]

Nipped over to FF to see what angry bears are saying. They believe this is their victory and funds being released to club. Unsure as to why 2 papers reporting this as it looked clear that although appeal can go ahead, funds still frozen.

 

In addition, the author of open letter to Mike Ashley is boasting of his plan B to strike back at Ashley if letter ignored. Looks like like some anti Sports Direct demo will be taking place, although it's all hush hush just now. Can't see Ashley being bothered if few Rangers fans stand and shout in front of his shops, they will end up being arrested if they cause bother.

[Deevers]

 

Any hoo the time is now up for those who could take up the share value to deposit their easily earned cash with Crest? right now somebody knows if the share issue has been a success or not?????????/

Most Rangers people I know (at least the sensible ones) expect the Share Issue to be considerably under subscribed.

[DETTY29]

PMGB has neen releasing some tweets etc, I think to prove a point that his information is correct.

 

I think what he is saying

 

Some high level:-

- Graham Wallace has been working outwith his remit

- Charles Green may not have sold all his interests in Rangers

(Bill McMurdo jnr has been alluding to the same. I think BMJ is pro RIFC board and is primarily followed by the more 'hard core' element of the support)

- Wallace is about to walk away.

 

His latest blog suggests take up of the share options by the institutional investors has been poor, but there is a deal on the table from Ashley to provide emergency funding, but only to the knowledge of one RIFC director. McMurdo has also alluded that Wallace has peed off the RIFC board by approaching Dave King. And Sandy Easdale put the boot into Ashley last week, by announcing the ?1brokes deal.

 

So who is the new rogue director?.

 

I know loads of folk think PMGB is just firing shots in to a barrell of fish, and will eventually get some things correct. But he does seem to be miles ahead of most of his counterparts in the SMSM who now appear to have given investigation in to what is going on at Ibrox a very wide berth.

 

Well apart from a key one who seems to have his articles signed off from within Ibrox.

 

Could be worse I suppose. The CEO of the SFA was accused of doing the very same.

[TheMaganator]

I haven't been following this at all.

 

Are there any good blogs or reports that I can read to get up to speed for the recent stuff (last few months)?

 

Cheers

[I P Knightley]

So that is saying the funds are still arrested right? but if Imran loses the case or appeal then the funds will be returned? that's not what was said earlier???

 

Whoever said it earlier must be a little bit hard of thinking.

 

Last week, Lord Stewart gave a legal judgement that ?620k of Rangers' cash should be confiscated until it is confirmed whether or not it belongs to Ahmad.

 

This week, Rangers have said, "Awww, that's no fair" and Lord Stewart has said, "we'll talk about this when your father gets back from work. And he's not due back until November."

 

At no point has anyone in the courts system said Lord Stewart may be wrong. They've said we'll assume he's right but review it in November.

 

Given that the Rangers QC chappy was arguing that Rangers are in sound financial health; things have never been better in the last 2 years and we're half way along the Yellow Brick Road, this can be no more than a minor inconvenience and, come November Ahmad can have his money if the court says so. No skin off anyone's blue nose.

[I P Knightley]

It's a roaring success, an easdale found a few of these down a sofa cushion..

 

 

I've got 250 Trillion dollars in my wallet but they're not getting a sniff of any of it.

[Ivan Drago]

I was confused by the post you've quoted, is that really what he's getting at?!

 

It's called trolling chaps

[Charlie-Brown]

Were the 50 staff that transferred by tupe to Sports Direct employees of Rangers Retail or Rangers Football Club? If it was the former then any cost saving will be minimal as surely their wages cost was part of the shops business not Sevco?

Edited September 9, 2014 by Charlie-Brown

[Footballfirst]

Were the 50 staff that transferred by tupe to Sports Direct employees of Rangers Retail or Rangers Football Club? If it was the former then any cost saving will be minimal as surely their wages cost was part of the shops business not Sevco?

 

According to Ragers Retail accounts, they had no employees, but there was a recharging system with TRFC.

[Charlie-Brown]

 

 

 

According to Ragers Retail accounts, they had no employees, but there was a recharging system with TRFC.

 

Do you know how the retail turnover and cost were accounted for FF? And how the profits were apportioned in Rangers accounts given Sports Direct already majority owned the Rangers Retail business?

[Footballfirst]

Do you know how the retail turnover and cost were accounted for FF? And how the profits were apportioned in Rangers accounts given Sports Direct already majority owned the Rangers Retail business?

 

I've uploaded their last accounts to Scribd http://www.scribd.com/doc/239193750/Rangers-Retail-2013

 

Unfortunately their last accounts only take us up to April 2013 (they were only published in Jan 2014).

 

In the RIFC accounts (six months to 31/12/13) they stated that Retail revenues had gone up from ?0.9M to ?4.8M, but that their expenses for Retail had gone up from ?0.4M to ?3M.

 

I can't see the Retail income holding up in the second half of the season as you tend to get most income at the start of a season when you launch new kit.

[Malinga the Swinga]

But are the funds actually frozen. Ahmed has the right to serve the arrestment whenever he wants but as I understand it, so far, he has not served it, therefore the funds are still technically Rangers at the moment. Don't understand why he wanted the power to arrest funds but then not actually do the deed.

 

 

[Footballfirst]

But are the funds actually frozen. Ahmed has the right to serve the arrestment whenever he wants but as I understand it, so far, he has not served it, therefore the funds are still technically Rangers at the moment. Don't understand why he wanted the power to arrest funds but then not actually do the deed.

 

Lord Stewart asked that both parties agree what assets should be secured. If Rangers prove difficult, then Ahmad would be free to have an arrestment order placed on any TRFC bank account. I'm sure he already knows who TRFC bank with.

[Malinga the Swinga]

Thing is having worked in finance for 30 odd years and seen plenty of arrestment so served, if you go to the trouble of going to court to freeze something, you act straight away because if you don't, the defenders can move the funds into jurisdictions that no one else can touch. Surely Ahmed, having gone three times to court and finally having won his case, he would move quickly to get warrant served?

[CJGJ]

But are the funds actually frozen. Ahmed has the right to serve the arrestment whenever he wants but as I understand it, so far, he has not served it, therefore the funds are still technically Rangers at the moment. Don't understand why he wanted the power to arrest funds but then not actually do the deed.

As he has not 'won' his case yet he cannot 'serve it' (But funds will have ben placed aside).. The court system takes its own good time and the headline judgements often miss out the little caveats in the full judgement re the arrestment.

The money is there at present so to be honest I think it is a pressure tactic being applied by Ahmeds lawyers and that whilst it will impact it will not be the factor that tips things into administration.

 

The full case is due in November this year I believe and his concern is that there would be no funds left should he win his case.

 

Rangers are now appealing and nothing will happen until the appeal is heard......that appeal will be before 'pay day' in September............and of course in the meantime we have the 'funding' from the share issue so who knows what will be in the bank shortly.

Indded if the funding was fully subscribed it may well be Rangers would win the appeal as they would be able to show sufficient funds existed before the full court case in November,,,,,,,,,,,,IF.

Edited September 9, 2014 by CJGJ

[FarmerTweedy]

If you look at betting history on oddschecker, you can see Betdaq cutting odds to 4/7 first thing this morning. Only bookie/exchange to do so.

 

Betdaq don't actually set the odds, it's just individual punters that offer the odds. It's common to see very short odds available for backing on markets where there is very little action, with very long odds for laying. It doesn't mean anyone thinks those odds actually reflect the likelihood of a particular outcome happening, it's just punters hoping someone will be daft enough to take those ridiculously bad odds!

[Jambo66]

 

As he has not 'won' his case yet he cannot 'serve it' (But funds will have ben placed aside).. The court system takes its own good time and the headline judgements often miss out the little caveats in the full judgement re the arrestment.

The money is there at present so to be honest I think it is a pressure tactic being applied by Ahmeds lawyers and that whilst it will impact it will not be the factor that tips things into administration.

 

The full case is due in November this year I believe and his concern is that there would be no funds left should he win his case.

 

Rangers are now appealing and nothing will happen until the appeal is heard......that appeal will be before 'pay day' in September............and of course in the meantime we have the 'funding' from the share issue so who knows what will be in the bank shortly.

Indded if the funding was fully subscribed it may well be Rangers would win the appeal as they would be able to show sufficient funds existed before the full court case in November,,,,,,,,,,,,IF.

 

He will have been able to serve the arrestment within minutes of winning last week. If he didn't do it, then he's a fool.

[RobNox]

Betdaq don't actually set the odds, it's just individual punters that offer the odds. It's common to see very short odds available for backing on markets where there is very little action, with very long odds for laying. It doesn't mean anyone thinks those odds actually reflect the likelihood of a particular outcome happening, it's just punters hoping someone will be daft enough to take those ridiculously bad odds!

Correct, a more reliable indicator at this time will be the odds offered by the major traditional bookmakers. Best price for Hearts when I last looked was 7/5, or 1.4/1 if you like. Rangers best price is 8/15.

 

Converting those odds into percentage probability, 7/5 against Hearts means the bookies put our chances of winning the league at just under 42%, while 8/15 Rangers equates to around 65% chance of winning. Taken together, the odds available against both Hearts and Rangers equate to 107% probability that one of them will win the league, which shows how much of a margin the bookies build in, given there are another 8 teams whose probabilities have also to be factored in to the equation.

 

What the current odds do show though is that all bookmakers have this down as a 2 horse race. Hibs are 3rd favourites, priced between 16/1 and 25/1 to win the league.

Edited September 9, 2014 by RobNox

[Eldar Hadzimehmedovic]

 

Correct, a more reliable indicator at this time will be the odds offered by the major traditional bookmakers. Best price for Hearts when I last looked was 7/5, or 1.4/1 if you like. Rangers best price is 8/15.

 

Converting those odds into percentage probability, 7/5 against Hearts means the bookies put our chances of winning the league at just under 42%, while 8/15 Rangers equates to around 65% chance of winning. Taken together, the odds available against both Hearts and Rangers equate to 107% probability that one of them will win the league, which shows how much of a margin the bookies build in, given there are another 8 teams whose probabilities have also to be factored in to the equation.

 

What the current odds do show though is that all bookmakers have this down as a 2 horse race. Hibs are 3rd favourites, priced between 16/1 and 25/1 to win the league.

 

Hibs, 25/1 to win the old First Division.

 

 

Oh, Hibs.