Footballfirst Posted October 23, 2014 Share Posted October 23, 2014 (edited) FF what are your thoughts re Mike Ashley and his current investment? In the event of another admin will MA stand to lose money, which I'd have thought was unavoidable. That being the case I don't see why he'd invest surely knowing what state the club was in. Guess what I'm trying to say is can he step in and help or is it a case of him scooping up the let overs? Here's what I posted on as a follow up to "Brick Tamland" on TSFM five minutes before the latest McMurdo Blog came to light. "It?s perfectly possible, maybe even likely, that planning for admin in December has occurred. That would be necessary with no additional external funding in place. It is looking likely that King?s offer will be rejected (whether or not it actually existed in the first place) Ashley?s ?offer?, when it comes, may well be a take it or leave it deal, involving crossing red lines of what is acceptable on property or IP securities. In that scenario the plug could be pulled. Ashley may feel that he has enough protection on what branding and other rights he ?owns? to be relatively comfortable with admin. The ITK money men in London may just be speculating on the likely outcomes from a purely financial viewpoint, and may not have given consideration to the footballing fallout from an insolvency event at this point in the short life of TRFC." Edited October 23, 2014 by Footballfirst Link to comment Share on other sites More sharing options...
jambovambo Posted October 23, 2014 Share Posted October 23, 2014 "failure to identify ... backers" ... that's rich coming from them ... Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted October 23, 2014 Share Posted October 23, 2014 The rush 3 years ago to get back to their rightful place at the head of the table has come back to bite them. Division 3 and probably 2 could have been won quite easily by a few seasoned veterans and good Scottish kids who would have fallen over themselves to play for Newco. Those kids would now be seasoned and probably would have managed to get them back up this year, even if through the play-offs. They decided to do it their own way and now are back in the doo doo. The money spent and lost is quite astounding. Link to comment Share on other sites More sharing options...
The Future's Maroon Posted October 23, 2014 Share Posted October 23, 2014 (edited) Some long statement from King is being tweeted as I type....maybe its not off afterall? @RichwilBBC: Long statement from Dave King. Will post, but in essence has provided all requested information and is still intent on providing finding --------------------------------------------------------------------------------------------------------------------------------------- EDIT, a mate just forwarded this to me..... Dave King Statement re Rangers FC It is appropriate that I give feedback to the Rangers fans before departing for South Africa. Over the last few weeks Paul Murray, George Letham and myself have constructively engaged the Rangers board and (at the request of the board) Sandy Easdale regarding our proposal to invest 16 million into the club as soon as is practically possible. When investing in any public company there are numerous regulatory and compliance requirements that have to be dealt with. There are also SFA compliance issues that arise when investing in a football club in Scotland. An obvious further complication in Rangers case is the seeming lack of authority of the Rangers board to make decisions without reference to key shareholders who appear to be ?the power behind the throne?. Prior to commencing the implementation issues referred to above it is necessary to reach an in-principle agreement with the board that can then be put to shareholders. In this regard it is important to recogniser hat the so-called Easdale Block represents more than 25% of the shares in issue and could therefore block the implementation of our proposal even if recommended by the board. Likewise, a combination of other shareholders could veto our proposal. I attempted to meet with Mr Ashley on my visit but neither he, nor his colleague, Mr Bishop, acknowledged my request for a meeting. This is their right but is unfortunate given the present concerns from supporters that Mr Ashley is using his shareholder status to put pressure on the board to alienate the rights and trade mark of the club in favour of his personal interest. I will make a separate announcement and appeal to fans on this topic at the appropriate time. Our initial proposal to the board was to invest the full 16m by way of equity at 20p per share. The board requested that we consider a debt/equity mix that would reduce dilution for existing shareholders and allow the debt component to be advanced prior to the extended time frame required for the approval of additional equity. We are amenable to this and to working with the board on the mechanics necessary to ensure that this is achieved provided that the full investment is recognised by way of board representation. We wish to appoint an equal number of members to the board and have the key say regarding the appointment of the Chairperson. We will not invest funds and let the existing board determine how these funds are spent. That has not worked well in the past. In any transaction of this nature there are a number of interests to be consulted and considered. The board has apparently engaged constructively on our proposal while advancing its own points as to what it believes is in the best interest of the club and its shareholders. Sandy Easdale has similarly apparently engaged constructively including highlighting some concerns. I have today responded to these concerns in writing. He will now consult with his co-shareholders and hopefully revert soonest so that we can proceed to agreement and the earliest possible implementation thereof. Unfortunately, I have to again deal with a point that I have covered previously. Despite our agreement with the board on confidentiality (that we have strictly complied with) we were faced with the inevitable combination of truth, half-truth and fallacies peddled by Mr Irvine on behalf of his employers. He states in particular that he is voicing Sandy Easdale?s directly communicated thoughts. Sandy has assured me that this is not the case regarding his recent nonsensical utterings. On that point, I have recently had the amusement of reviewing over 100 email communications between MrIrvine and Craig Whyte during the period that Mr Irvine was attempting to advance Mr Whyte?s business interests. My review of these emails indicates to me that he carefully identifies journalists that he believes lack journalistic integrity and ability and can therefore be fed by him for the benefit of whoever pays him. I urge fans to continue to ignore the nonsense that comes from these sources. We have a lot of work to do over the next few months to regain the club. I would not be here without the support of the fans and neither would my co-investors. We are going to need to draw on your support again over the coming months. Edited October 23, 2014 by The Future's Maroon Link to comment Share on other sites More sharing options...
Gorgie_Rules Posted October 23, 2014 Share Posted October 23, 2014 ?@SkySportsNewsHQ: BREAKING: Dave King fails to reach agreement with @RangersFC board over proposed ?16million cash injection. #SSNHQ? Link to comment Share on other sites More sharing options...
Turkishcap Posted October 23, 2014 Share Posted October 23, 2014 All very well but when does Ally get his cash for new players Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted October 23, 2014 Share Posted October 23, 2014 So is that Rangers saved - "Of that can there be no mistake"? Or are they still just running around in circles chasing their tails? Link to comment Share on other sites More sharing options...
The Mighty Thor Posted October 23, 2014 Share Posted October 23, 2014 So the lying king hasn't got the board onside nor has he got the compliance issues (FPPT) sorted with the SFA. Its a done deal then. Wee Stevie better fire up football manager to help Salary spunk the warchest. Link to comment Share on other sites More sharing options...
...a bit disco Posted October 23, 2014 Share Posted October 23, 2014 So is that Rangers saved - "Of that can there be no mistake"? Or are they still just running around in circles chasing their tails? Shoot that poison arrow! Link to comment Share on other sites More sharing options...
Footballfirst Posted October 23, 2014 Share Posted October 23, 2014 Reading between the lines of the DK statement, I could just say ?he would say that, wouldn?t he? By publishing the statement as he has, it leaves no opportunity for him to be questioned on his plans, but it does allow him to be viewed by the fans as the white knight, but one whose advances have been wrongly spurned. It also puts him in prime position to pick up the pieces in an insolvency event. I will be interested to see how Jack Irvine responds to this on behalf of Sandy Easdale. I suspect that comments such as ?so called Easdale Block? and ?the power behind the throne? will not go down too well with the ?power behind the throne?. Link to comment Share on other sites More sharing options...
Jamdub Posted October 23, 2014 Share Posted October 23, 2014 (edited) Not long nowAll very well but when does Ally get his cash for new players Not long now, once he completes his sponsored run. Edited October 23, 2014 by Jamdub Link to comment Share on other sites More sharing options...
sunblestjambo Posted October 23, 2014 Share Posted October 23, 2014 Wee Stevie better fire up football manager to help Salary spunk the warchest. Link to comment Share on other sites More sharing options...
Toxteth O'Grady Posted October 23, 2014 Share Posted October 23, 2014 Ashley didn't even bother to respond to his meeting request Link to comment Share on other sites More sharing options...
djf Posted October 23, 2014 Share Posted October 23, 2014 So he's flown in, swanned around, had his arse licked by his people, got his face in the papers and cleared off and they are no further forwards than they were last week. When are their fans going to wake up and smell the coffee. Imagine the entire future of your club was dependent on an exiled tax cheat and you were sitting doing nothing about it. Link to comment Share on other sites More sharing options...
I P Knightley Posted October 23, 2014 Share Posted October 23, 2014 Over the last few weeks Paul Murray, George Letham and myself "myself" - the man's an arsehave constructively engaged the Rangers board and (at the request of the board) Sandy Easdale Whose definition of "constructively"?regarding our proposal to invest 16 million into the club as soon as is practically possible. When investing in any public company there are numerous regulatory and compliance requirements that have to be dealt with. There are also SFA compliance issues that arise when investing in a football club in Scotland. As in "they don't allow crooks" An obvious further complication in Rangers case is the seeming lack of authority of the Rangers board to make decisions without reference to key shareholders who appear to be ?the power behind the throne?. He makes it sound either a surprise or, somehow unfair or unscrupulous. I won't read any further. All seems to be a load of babble that will appeal to the bears who are already pro-King and will smell of shite to anyone who sees King for what he is. Meh. Link to comment Share on other sites More sharing options...
Rods Posted October 23, 2014 Share Posted October 23, 2014 "We have a lot of work to do over the next few months to regain the club. I would not be here without the support of the fans and neither would my co-investors. We are going to need to draw on your support again over the coming months" Could the tax criminal be hinting about possible boycotts in the future to starve the spivs out ?. He also alludes to further statements about the fans in his statement I think you are spot on here. In another note I hope he comes out and tells us who these journos are so they can villified by the peepul. Looks like mad vlad was correct all along. Link to comment Share on other sites More sharing options...
The Future's Maroon Posted October 23, 2014 Share Posted October 23, 2014 Nipped on to bearspitt to see what they were saying... Some like me have never even been to the infamous board room forum King statement posted in the Boardroom forum http://forum.rangers...entry1062252530 Ahhhh, so they have a seperate forum visitors can't access - I wondered why there was hardly any stuff about the King/financial mess on the main forum.....I guess, sensibly really! (Do we have things like that here) Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted October 23, 2014 Share Posted October 23, 2014 What a load of shite! Link to comment Share on other sites More sharing options...
Dusk_Till_Dawn Posted October 23, 2014 Share Posted October 23, 2014 . Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted October 23, 2014 Share Posted October 23, 2014 So, er, "reading between the lines", King and co have been told to feck off! Link to comment Share on other sites More sharing options...
Footballfirst Posted October 23, 2014 Share Posted October 23, 2014 So, er, "reading between the lines", King and co have been told to feck off! In one word "Yes!" Link to comment Share on other sites More sharing options...
i wish jj was my dad Posted October 23, 2014 Share Posted October 23, 2014 So, er, "reading between the lines", King and co have been told to feck off! My take was that reading between the lines was that the talks didn't progress very well at all. Never mind, I'm sure that nice Mr Ashley will be along soon with Ally's war chest. Link to comment Share on other sites More sharing options...
Jambof3tornado Posted October 23, 2014 Share Posted October 23, 2014 So, er, "reading between the lines", King and co have been told to feck off! Nail and head spring to mind!!! Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted October 23, 2014 Share Posted October 23, 2014 I will be interested to see how Jack Irvine responds to this on behalf of Sandy Easdale. I suspect that comments such as ?so called Easdale Block? and ?the power behind the throne? will not go down too well with the ?power behind the throne?. Kind of what I thought. Almost as though he's making sure he's out with no way back. Link to comment Share on other sites More sharing options...
Mark_Mywords Posted October 23, 2014 Share Posted October 23, 2014 They are quickly running out of options. (not that King was ever a viable option imo) What now? Ashley to invest x amount in return for assets? The big house? Who owns the deeds? It's all getting messy now. Link to comment Share on other sites More sharing options...
Cardiac Rucksack Posted October 23, 2014 Share Posted October 23, 2014 King plays them like an old fiddle. The Huns will think the second coming is about to happen Link to comment Share on other sites More sharing options...
Boof Posted October 23, 2014 Share Posted October 23, 2014 Ahhhh, so they have a seperate forum visitors can't access...(Do we have things like that here) Shuuuut uuuuupppppp!! Link to comment Share on other sites More sharing options...
Australis Posted October 23, 2014 Share Posted October 23, 2014 From a sevco site called gers net Jim White ?@JimWhite 2m2 minutes ago Just received this 3-line quote directly from Dave King re #Rangers... Dave King: 'I believe I have made a compelling case for investment and for taking the club forward..' Dave King: 'I cannot see how a board, acting in good faith, can fail to recommend it to shareholders given the current plight of the club..' Dave King: 'Let the shareholders decide.' #Rangers If only we had a board that acted in good faith..................... http://www.gersnetonline.co.uk/vb/showthread.php?66460-Keith-Jackson-Twitter/page6 Link to comment Share on other sites More sharing options...
The Future's Maroon Posted October 23, 2014 Share Posted October 23, 2014 Shuuuut uuuuupppppp!! It was a genuine question. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted October 23, 2014 Share Posted October 23, 2014 It was a genuine question. Link to comment Share on other sites More sharing options...
Boof Posted October 23, 2014 Share Posted October 23, 2014 It was a genuine question. Apologies - I have no idea. I was just referencing the Simpsons 'Stonecutters' episode where Lenny and Carl were ITK and keeping secrets from Homer as if I did know we had a hidden sub-forum on here. Link to comment Share on other sites More sharing options...
The Future's Maroon Posted October 23, 2014 Share Posted October 23, 2014 Apologies - I have no idea. I was just referencing the Simpsons 'Stonecutters' episode where Lenny and Carl were ITK and keeping secrets from Homer as if I did know we had a hidden sub-forum on here. Link to comment Share on other sites More sharing options...
Rods Posted October 23, 2014 Share Posted October 23, 2014 So they turn to Ashley now is what the plan is seeing as they dont want King. He will probably look to have Ibrox as security that is when the brown stuff will hit the fan. Along with boycotts from fans they really are in trouble. Link to comment Share on other sites More sharing options...
The Mighty Thor Posted October 23, 2014 Share Posted October 23, 2014 So they turn to Ashley now is what the plan is seeing as they dont want King. He will probably look to have Ibrox as security that is when the brown stuff will hit the fan. Along with boycotts from fans they really are in trouble. Ashley will be bricking it in case the halfwits try another sports direct store protest like we witnessed a few weeks ago. It could be a great time for another shell suit and sports socks entrepreneur to enter the market. Link to comment Share on other sites More sharing options...
Rods Posted October 23, 2014 Share Posted October 23, 2014 Ashley will be bricking it in case the halfwits try another sports direct store protest like we witnessed a few weeks ago. It could be a great time for another shell suit and sports socks entrepreneur to enter the market. I think the those small amount of halfwits may turn in to an angry mob soon enough if he gets his hands on Ibrox. Link to comment Share on other sites More sharing options...
Jambo-Jimbo Posted October 23, 2014 Share Posted October 23, 2014 I think the those small amount of halfwits may turn in to an angry mob soon enough if he gets his hands on Ibrox. Torches & Pitchforks spring to mind. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted October 23, 2014 Share Posted October 23, 2014 A boycott of Sports Direct? Will it Everlast? Link to comment Share on other sites More sharing options...
Martin_T Posted October 23, 2014 Share Posted October 23, 2014 I think Dave King's wealth is of the Off the Radar variety. Link to comment Share on other sites More sharing options...
Jambo-Jimbo Posted October 23, 2014 Share Posted October 23, 2014 A boycott of Sports Direct? Will it Everlast? Don'nay know Link to comment Share on other sites More sharing options...
Gorgie_Rules Posted October 23, 2014 Share Posted October 23, 2014 Not been following this intently enough to predict the outcome but the longer this rumbles on the better. The negativity around the club at the moment can only be of benefit to us, particularily when we are experiencing the opposite. How likely is a second administration? Link to comment Share on other sites More sharing options...
...a bit disco Posted October 23, 2014 Share Posted October 23, 2014 A boycott of Sports Direct? Will it Everlast? No Fear. Link to comment Share on other sites More sharing options...
Hearts007 Posted October 23, 2014 Share Posted October 23, 2014 (edited) cant see admin Edited October 23, 2014 by hearts007 Link to comment Share on other sites More sharing options...
Deevers Posted October 23, 2014 Share Posted October 23, 2014 Not been following this intently enough to predict the outcome but the longer this rumbles on the better. The negativity around the club at the moment can only be of benefit to us, particularily when we are experiencing the opposite. How likely is a second administration? Administrstion looks to be the only way that they can ditch the onerous contracts and get rid of the high earners on their wage bill. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted October 23, 2014 Share Posted October 23, 2014 Don'nay know Link to comment Share on other sites More sharing options...
...a bit disco Posted October 23, 2014 Share Posted October 23, 2014 astra pull a deserved goal back 2-1 You do know it's Celtic that are playing im Europe? Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted October 23, 2014 Share Posted October 23, 2014 No Fear. A deid ass club, imo. Link to comment Share on other sites More sharing options...
Hearts007 Posted October 23, 2014 Share Posted October 23, 2014 You do know it's Celtic that are playing im Europe? yes Link to comment Share on other sites More sharing options...
...a bit disco Posted October 23, 2014 Share Posted October 23, 2014 A deid ass club, imo. Conversely, ra peepuls boycott means nothing to Mashley. Link to comment Share on other sites More sharing options...
...a bit disco Posted October 23, 2014 Share Posted October 23, 2014 yes Dare I say...wrong thread? Link to comment Share on other sites More sharing options...
Hearts007 Posted October 23, 2014 Share Posted October 23, 2014 (edited) Dare I say...wrong thread? no don't dare Edited October 23, 2014 by hearts007 Link to comment Share on other sites More sharing options...
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