The Rangers soap opera goes on and on.

[jambo2524]

?

[Paolo]

Where did that rumour come from?

[Geoff Kilpatrick]

Where did that rumour come from?

Probably the same place Farin finds his pictures...

[Gigolo-Aunt]

 

Probably the same place Farin finds his pictures...

 

[Jammy T]

 

 

Sevco fan at work is convinced this is Ashley's next way of putting money into them. McLeod's a good prospect but I'd imagine the hordes would go nuts if sevco sold players like him tbh.

 

Lol so not really a credible rumour then

 

My concern would be that they sell McLeod to Newcastle only to immediately loan him back to sevco - he isn't ready for EPL at present let's face it.

 

So they get free money and don't suffer as a team

[Prince Buaben]

Lol so not really a credible rumour then

 

My concern would be that they sell McLeod to Newcastle only to immediately loan him back to sevco - he isn't ready for EPL at present let's face it.

 

So they get free money and don't suffer as a team

 

Free Money? This isnt Football Manager where you go Man City and buy a reserve for ?20m.

 

If this situation was to happen then it would be a minimum amount and would be stripping them of an asset. as he would only be there for 4 months. He isnt going to be loaned back every year

Edited November 11, 2014 by Prince Buaben

[Jamboman1512]

I guess I would of excepted it, if it saved the club.

 

I think Ashley will do some good for Rangers. Yeah he will want to make it work for him, as would anyone, but I think he a lot less toxic then people before him.

 

I'm not one who usually cares much about spelling but my faith in humanity died a little bit there.

[tartofmidlothian]

.

[Unknown user]

 

 

I'm not one who usually cares much about spelling but my faith in humanity died a little bit there.

 

I might of have off experienced the same thing

[Jammy T]

Free Money? This isnt Football Manager where you go Man City and buy a reserve for ?20m.

 

If this situation was to happen then it would be a minimum amount and would be stripping them of an asset. as he would only be there for 4 months. He isnt going to be loaned back every year

 

I'm talking a couple of ?m

 

McLeod has potential. He might be good enough for the EPL but he is still developing. Sevco need the cash. Ashley has influence at both clubs.

 

So Newcastle buy genuine potential for a reasonable amount, and loan it back to his current club to continue his development. Rangers get "free" money and retain the player (hence the "free" bit as they dont lose out to any significant extent)

 

Were you not around when Souness gave an overinflated chunk of money to Rangers for Boumsong (?8m I recall) or an overinflated ?7m or so for Ferguson? You think these were completely above board?

[jamboinglasgow]

I'm talking a couple of ?m

 

McLeod has potential. He might be good enough for the EPL but he is still developing. Sevco need the cash. Ashley has influence at both clubs.

 

So Newcastle buy genuine potential for a reasonable amount, and loan it back to his current club to continue his development. Rangers get "free" money and retain the player (hence the "free" bit as they dont lose out to any significant extent)

 

Were you not around when Souness gave an overinflated chunk of money to Rangers for Boumsong (?8m I recall) or an overinflated ?7m or so for Ferguson? You think these were completely above board?

 

I can see him being sent to the English Championship on loan instead. Newcastle chuck a couple of their youngsters back to Rangers on loan.

[Strachsuit]

I'm talking a couple of ?m

 

McLeod has potential. He might be good enough for the EPL but he is still developing. Sevco need the cash. Ashley has influence at both clubs.

 

So Newcastle buy genuine potential for a reasonable amount, and loan it back to his current club to continue his development. Rangers get "free" money and retain the player (hence the "free" bit as they dont lose out to any significant extent)

 

Were you not around when Souness gave an overinflated chunk of money to Rangers for Boumsong (?8m I recall) or an overinflated ?7m or so for Ferguson? You think these were completely above board?

 

I've always referred to that Boumsong one as one of the dodgiest transfers ever. Rangers need some dosh so Murray calls up Souness and asks him for a wee favour!

[Ivan Drago]

 

 

 

I've always referred to that Boumsong one as one of the dodgiest transfers ever. Rangers need some dosh so Murray calls up Souness and asks him for a wee favour!

 

Did Souness not buy Tugay and receive an EBT shortly after?

[Strachsuit]

The SFA wrote to Ashley a couple of weeks ago asking for an explanation over his exertion of boardroom influence, I wonder where his reply is? Lost in the snail mail? The SFA's silence over Ashley's involvement in Rangers is deafening.

[Footballfirst]

I can see him being sent to the English Championship on loan instead. Newcastle chuck a couple of their youngsters back to Rangers on loan.

 

Ashley also has interests at Oldham Athletic, who now play at the SportsDirect.com Park (renamed from Boundary Park) and also use Sondico kit which is one of Ashley's owned brands. I understand that he also has full control over their merchandising.

[Jammy T]

 

 

I've always referred to that Boumsong one as one of the dodgiest transfers ever. Rangers need some dosh so Murray calls up Souness and asks him for a wee favour!

 

Rangers got him on a free and I think he'd gone to Newcastle in less than 6 months for ?8m. And he hadn't even been outstanding for them....

 

 

[The Comedian]

Rangers got him on a free and I think he'd gone to Newcastle in less than 6 months for ?8m. And he hadn't even been outstanding for them....

 

Not even nearly. I remember MDV giving him a chasing in a 3-2 defeat.

[Malinga the Swinga]

Note that some of the Rangers support have requested investigation by AIM over Ashley loan. Complicated but by taking his loan over others that were offered, Rangers accused of favouring individual shareholder, which as you will imagine, is against every rule in the book.

 

Wouldn't it be marvellous if Ashley was so hacked off he stuck them in admin. He won't of course, but you can but hope.

Edited November 11, 2014 by Malinga the Swinga

[FWJ]

Just hearing on GMS that the ?2m loan has been increased to ?3m.....

[The Comedian]

Just hearing on GMS that the ?2m loan has been increased to ?3m.....

 

Llambias has seen how bad things are?

[FWJ]

There wasn't much on it, just a couple of sentences. No doubt will hear more. Maybe enough to get into next year?

[Strachsuit]

http://news.stv.tv/west-central/299329-mike-ashley-increases-rangers-loan-by-1m-after-low-match-attendances/

[Strachsuit]

Still not enough to get into next year. Interesting part about the naming rights being given up by SD. Wonder what MA has got secured in return for this additional ?1m loan?

[Don Dan]

"However, the board also announced on Wednesday that Sports Direct had given up their naming rights to Ibrox Stadium."

Somebody has realised that this deal is wrong why else tear up the ?1 note.

[Gavsy Van Gaverson]

"However, the board also announced on Wednesday that Sports Direct had given up their naming rights to Ibrox Stadium."

Somebody has realised that this deal is wrong why else tear up the ?1 note.

 

Given the naming rights up. Yes, but in exchange for what?

[Gavsy Van Gaverson]

"However, the board also announced on Wednesday that Sports Direct had given up their naming rights to Ibrox Stadium."

Somebody has realised that this deal is wrong why else tear up the ?1 note.

 

Edit - double post

Edited November 12, 2014 by Gavsy Van Gaverson

[Randle P McMurphy]

The Charlie telfer compensation rumbles on http://sport.stv.tv/football/clubs/dundee-united/299248-dundee-united-boss-keen-for-charlie-telfer-transfer-tribunal-date/

[I P Knightley]

I've always referred to that Boumsong one as one of the dodgiest transfers ever. Rangers need some dosh so Murray calls up Souness and asks him for a wee favour!

 

This is how the wheels turn. Sometimes not quite so blatantly but it's rife.

[Mr Nobody]

There wasn't much on it, just a couple of sentences. No doubt will hear more. Maybe enough to get into next year?

That'll be the intersest being added. MA got Wonga to provide the loan

[Rods]

Rangers financial worries are over for a while yet that is clear.

[jambovambo]

@BBCchrismclaug: .@BBCSport understands job losses now likely at #Rangers but playing squad won't be cut.

[jambovambo]

Rangers financial worries are over for a while yet that is clear.

Aren't?

[Rods]

Aren't?

 

Sorry what I meant was there will be no admin and the club will look to move to a more financially prudent era.

Edited November 12, 2014 by Rents

[south morroccan]

"However, the board also announced on Wednesday that Sports Direct had given up their naming rights to Ibrox Stadium."

Somebody has realised that this deal is wrong why else tear up the ?1 note.

 

In my opinion what Ashley bought for a quid was the right to buy the naming rights. In other words if Green wished to raise money by selling the naming rights he had to go to Ashley. Additionally Ashley could approach the board to buy this at any time. Without this Ashley would not have invested in Rangers.

 

Now that Rangers are entirely beholden to him he no longer has any need of this protection.

[May one-six]

Why does Ashley need the naming rights if he has carte blanche to plaster Ibrox with Sports Direct branding? All he's done is made a PR move that's cost him a pound - big deal.

[Stuart Lyon]

From today's Times - Graham Souness has launched a bitter attack on those who voted Rangers out of Scotland's top division and "enjoyed" watching the liquidated club start again. He fears football north of the border will never fully recover from all that has happened at Ibrox. Said he was angry and saddened by events at Rangers since admin in 2012. He asks if all the people who voted for their demise would do so again if given the chance. Claims everything would be so different if he, Kennedy and Smith had got control - calls Charles Green a pr**k!

 

Doesn't say what his part in the Ranger's financial crisis was i.e. big spending, EBTs etc.

 

Another bitter loser.

[colinmaroon]

Couldn't be a reaction to the "letter" highlighting the spiv skullduggery that has been going on and, as a result, before the authorities do their investigation, some sweeping up of the mess that could cause problems?

[Footballfirst]

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12147393.html

 

12 November 2014

 

 

Rangers International Football Club plc

 

("Rangers" or the "Company")

 

Further re Credit Facility

 

The Board of Rangers announces that MASH Holdings Limited ("MASH") has agreed to increase the ?2m credit facility (the "Facility") announced on 27 October with The Rangers Football Club Limited ("RFCL"). MASH shall make available the additional sum of ?1 million for drawdown by the Company on 26 November 2014. All other terms remain the same.

 

During the Autumn, the Club has suffered from lower than expected match attendance which has exacerbated the financial condition of the business The Directors have begun a cost cutting exercise, but further working capital in addition to the Facility will be needed before the end of the year.

 

MASH is a shareholder in the Company holding 8.92% of the voting rights in the Company. MASH also has an indirect holding in Rangers Retail Limited, a 51% owned subsidiary of RFCL. MASH is a Related Party under the AIM Rules and accordingly the Facility is a Related Party Transaction pursuant to AIM Rule 13. The Board discussed offers of finance in detail with two different potential funders over a period of time and also had discussions with an additional potential funder who expressed interest at the end of the period of the Board's discussions with the two original potential funders. Following such discussions, the Independent Directors comprising David Somers, Norman Crighton and James Easdale ("Independent Directors") narrowed down the immediately available funding options to two proposals, being those which were able to provide proof of immediately available and uncommitted funds and proof of the identity of the funders. As such the Independent Directors identified the two proposals that were, in their opinion, capable of immediate delivery. Having assessed these two proposals, the Independent Directors also consulted with major shareholders holding a majority of the voting rights in the Company. Following such shareholder consultations and with the support of such shareholders, the Board resolved to enter into the Facility. The Independent Directors, consider, having consulted with Daniel Stewart its nominated adviser, that the terms of the Facility are fair and reasonable insofar as shareholders of the Company are concerned. The Independent Directors would like to thank all the individuals who showed an interest in helping the Company.

 

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12147419.html

 

?

 

12 November 2014

 

 

Rangers International Football Club plc

 

("Rangers" or the "Company")

 

Partnership Marketing Agreement

 

The Board of Rangers is pleased to announce that Rangers Football Club Limited has entered into a partnership marketing agreement with SportsDirect.com Retail Limited ("Sports Direct") in which Sports Direct has given up its naming rights to the Ibrox Stadium. The agreement consolidates existing marketing arrangements between the parties and results in a more normalised retail joint venture marketing arrangement in which Sports Direct will continue to have certain advertising rights.

Commenting on the arrangement David Somers, Executive Chairman, said "This agreement has been concluded to demonstrate the importance both parties place on our relationship. The Rangers Board welcomes this visible demonstration of the Sports Direct support and long term commitment to Rangers."

[Bauld]

The current situation has me really pissed off. If they are staying afloat on nothing but drips from Ashley because the club can't turn a monthly profit or afford to pay the staff then they should be given no choice but to cut their cloth accordingly in January and get the club stable. If they were to gain automatic promotion ahead of us in their current state it would be a travesty.

[Footballfirst]

I can't see that the extra ?1M loan which will be available from this payday buys them any more than 1 month's grace. Deloittes won't be able to sign off a "going concern" statement for the next 12 months unless there is evidence of further funding being available.

[Strachsuit]

I can't see that the extra ?1M loan which will be available from this payday buys them any more than 1 month's grace. Deloittes won't be able to sign off a "going concern" statement for the next 12 months unless there is evidence of further funding being available.

 

Yup. This is their biggest hurdle to overcome before the end of the year, the accounts STILL need to be signed off and the AGM called. Time is fast against them if they are to avoid stock exchange sanctions. What is the long-term funding plan that will get the accounts signed off by Deloitte? I don't think they have one yet! Top spivery.

[Amjam]

From today's Times - Graham Souness has launched a bitter attack on those who voted Rangers out of Scotland's top division and "enjoyed" watching the liquidated club start again. He fears football north of the border will never fully recover from all that has happened at Ibrox. Said he was angry and saddened by events at Rangers since admin in 2012. He asks if all the people who voted for their demise would do so again if given the chance. Claims everything would be so different if he, Kennedy and Smith had got control - calls Charles Green a pr**k!

 

Doesn't say what his part in the Ranger's financial crisis was i.e. big spending, EBTs etc.

 

Another bitter loser.

 

He might want to check his facts. They weren't voted out, the new team wasn't voted in.

[Hearts007]

 

 

He might want to check his facts. They weren't voted out, the new team wasn't voted in.

yep and that W@**@*R Dungcaster should have applied the rules instead of palming it of to the other clubs

[Wilson]

Deloittes have two weeks to sign off the accounts, Ashley gives the franchise another loan that can be drawn down before Novembers payroll is due. I doubt they'll be an Agm in dec now unless Ashley guarantees more cash & a viable business plan to them..

 

What a shambles, how many loans before the Sfa wake up?. Surely a blind man can see their trading whilst insolvent & still no push to make them put up a bond like Livingston were forced to do either.

 

 

You've probably answered this before, but do clubs not have to prove at the start of the season that they are of enough financial strength to play a season? I seem to recall Ann Budge having to attend Hampden to prove same for Hearts. Are, then, The Rangers in breach of their SFA Licence...?

[Footballfirst]

Isn't it odd that since Armageddon struck, Hearts, Dunfermline, Dundee Utd, Kilmarnock and Aberdeen's finances have all been transformed, while one club has continued to follow in the path of Viv Nicholson with Spend Spend Spend.

[Strachsuit]

 

What a shambles, how many loans before the Sfa wake up?. Surely a blind man can see their trading whilst insolvent & still no push to make them put up a bond like Livingston were forced to do either.

 

 

See, this is the same point I made yesterday re: the SFA's silence being deafening. I cannot for the life of me understand why and how they are letting Sevco away with it. As for the suggestion by Wilson that they are in breach of their licence, well that's an interesting one. I do remember Hearts having to prove our financial stability, why aren't the SFA & SPFL requesting the same of TRFC now?

 

How long can the SFA keep their head in the sand?! I know we have seen it all before with their relationship with this club but come on, this is getting ridiculous.

[Strachsuit]

 

This is better though.

Ashley's dropped the naming rights, & you can now use credit cards at ?1broke, Prob through Ashley's S.Direct, that means ashley takes an "administration fee" for all transactions including future season ticket sales. He's bleeding them dry...

 

Just as we predicted, despite others on this very thread saying "Mike Ashley has saved Rangers"!!

[maroonlegions]

Isn't it odd that since Armageddon struck, Hearts, Dunfermline, Dundee Utd, Kilmarnock and Aberdeen's finances have all been transformed, while one club has continued to follow in the path of Viv Nicholson with Spend Spend Spend.

 

Yip sickening and the SFA do feck all, surely they are in breach of their SFA licence as another poster has rightly pointed out, total farce if this is being deliberately ignored by the governing bodies, limping along like a severely wounded animal is no way to operate in a professional football league.

[Fort Vallance]

The current situation has me really pissed off. If they are staying afloat on nothing but drips from Ashley because the club can't turn a monthly profit or afford to pay the staff then they should be given no choice but to cut their cloth accordingly in January and get the club stable. If they were to gain automatic promotion ahead of us in their current state it would be a travesty.

Wasn't there some condition in getting a licence to play in the league where clubs had to prove they had the funds to complete the season. As for "travesty" there are still Hobo's out there bleating about 2012 being a travesty so I'm not sure we can take the moral high ground there.

[Samster]

Deloittes have two weeks to sign off the accounts, Ashley gives the franchise another loan that can be drawn down before Novembers payroll is due. I doubt they'll be an Agm in dec now unless Ashley guarantees more cash & a viable business plan to them..

 

What a shambles, how many loans before the Sfa wake up?. Surely a blind man can see their trading whilst insolvent & still no push to make them put up a bond like Livingston were forced to do either.

 

 

 

People have previously said on here the SFA can't get involved as they've not yet broken any rules but they must be treading a fine line. The Livingston point is a very good one and yet again could be construed as one rule for Rangers and a different one for everyone else.