Don Dan Posted January 7, 2015 Share Posted January 7, 2015 So, if that's the case....... Rangers in crisis: 10,000 fans sign up in one day to Facebook campaign vowing to boycott matches and merchandise ....how can Doncaster accept Llambias' "personal guarantee" that they'll survive the season? If that 10k is correct the traveling Jambos could well out number the remaining Orc's Link to comment Share on other sites More sharing options...
swavkav Posted January 7, 2015 Share Posted January 7, 2015 What I want to know is, what are the odds on another Admin? Link to comment Share on other sites More sharing options...
Zico Posted January 7, 2015 Share Posted January 7, 2015 Don't get the idea that Rangers is flagship for his business. He is an opportunist businessman who sees scope for turning ?1M into ?2M or ?5M into ?10M. That's the way he has built his fortune, buying up distress businesses and brands and turning them into profitable enterprises. Rangers is no different. If he doesn't see a profit to be made then he will get out sharpish. Just see what happened to the USC warehouse at Dundonald today.That's how I see it. He makes educated bets - some he loses on (with limited exposure) and most he wins. He has very little to lose with The Rangers and has a decent chance of turning a profit. Link to comment Share on other sites More sharing options...
DETTY29 Posted January 8, 2015 Share Posted January 8, 2015 (edited) From Grant Russell. Robert Sarver has made a fresh takeover proposal to Rangers to spend up to ?20m on shares and provide ?6.5m in immediate short-term funding. And Sandy Easdale loan repaid. Sarver Ashley front? (Inmediate short term funding - loan or investment?) Edited January 8, 2015 by DETTY29 Link to comment Share on other sites More sharing options...
Footballfirst Posted January 8, 2015 Share Posted January 8, 2015 From Grant Russell. Robert Sarver has made a fresh takeover proposal to Rangers to spend up to ?20m on shares and provide ?6.5m in immediate short-term funding. And Sandy Easdale loan repaid. Sarver Ashley front? (Inmediate short term funding - loan or investment?) Both! AIM announcements http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12207694.html http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12207658.html Link to comment Share on other sites More sharing options...
Footballfirst Posted January 8, 2015 Share Posted January 8, 2015 (edited) The ?6.5M is a loan, repayable in 90 days from the proceeds of the placement. 90 days, say from later this month, would only take them up to mid April, in line with Ashley's due date for repayment. (27th April) Edited January 8, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
jambovambo Posted January 8, 2015 Share Posted January 8, 2015 This really is nuts. It's like the Black Knight in Monty Python. Link to comment Share on other sites More sharing options...
We_are_the_Hearts Posted January 8, 2015 Share Posted January 8, 2015 The ?6.5M is a loan, repayable in 90 days from the proceeds of the placement. 90 days, say from later this month, would only take them up to mid April, in line with Ashley's due date for repayment. (27th April) So Sarver/Ashley would be due 9.5 million in April? How they going to get that back? Season Tickets? Link to comment Share on other sites More sharing options...
Malinga the Swinga Posted January 8, 2015 Share Posted January 8, 2015 If offer is ?20m, but in 90 days he gets ?6.5m back, then he is really offering ?13.5m for a majority owning position. If they need to repay ?3m back to Ashley as well in April, then presume that new share issue would be required to get investment in, along with sale of season tickets for next season. Does that sort out their finances if they still are seeing outgoings massively outstrip income? Who knows. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted January 8, 2015 Share Posted January 8, 2015 At 20p a share, I would be getting out of Dodge if I was a shareholder in Sevco and selling as quick as possible. Link to comment Share on other sites More sharing options...
livingstonjambo Posted January 8, 2015 Share Posted January 8, 2015 At 20p a share, I would be getting out of Dodge if I was a shareholder in Sevco and selling as quick as possible. The problem is you can sell them on the open market at the moment for 26.5p Link to comment Share on other sites More sharing options...
Feeno Posted January 8, 2015 Share Posted January 8, 2015 (edited) If Ive followed correctly that will see them to the end of the season. But they are still hemorrhaging cash at an alarming rate due to the onerous contracts, and with their player wages to turnover rate at a decent level, they wont have a lot of wiggle room to impliment austerity measures. Edited January 8, 2015 by Feeno Link to comment Share on other sites More sharing options...
Tasavallan Posted January 8, 2015 Share Posted January 8, 2015 (edited) If offer is ?20m, but in 90 days he gets ?6.5m back, then he is really offering ?13.5m for a majority owning position. If they need to repay ?3m back to Ashley as well in April, then presume that new share issue would be required to get investment in, along with sale of season tickets for next season. Does that sort out their finances if they still are seeing outgoings massively outstrip income? Who" knows. "Live now, pay later" maxim. Now they are putting all their eggs in the Sarver basket to tide them over until ST money comes in. Edited January 8, 2015 by Tasavallan Link to comment Share on other sites More sharing options...
kingantti1874 Posted January 8, 2015 Share Posted January 8, 2015 If offer is ?20m, but in 90 days he gets ?6.5m back, then he is really offering ?13.5m for a majority owning position. If they need to repay ?3m back to Ashley as well in April, then presume that new share issue would be required to get investment in, along with sale of season tickets for next season. Does that sort out their finances if they still are seeing outgoings massively outstrip income? Who knows. I thought it was ?20m for the shares + a ?6.5m pound loan... Link to comment Share on other sites More sharing options...
Malinga the Swinga Posted January 8, 2015 Share Posted January 8, 2015 I thought it was ?20m for the shares + a ?6.5m pound loan... You may be right but it seems unclear as to what proposal is and terms are. Presume they use ?6m loan to relay Ashley and have ?3m left over for working capital, as surely they don't want to owe ?9m repayable in 90 odd days. Has the connection between Sarver and Ashley, through Sports Direct retailing Phoenix Sun's kit, been totally ignored by media or is it being investigated? They can't just ignore it and presume these guys just never knew each other can they? By offering to help Rangers, does anyone automatically now just become trusted and a saviour as desperation to see them get back to Top league increases? Link to comment Share on other sites More sharing options...
soonbe110 Posted January 8, 2015 Share Posted January 8, 2015 I thought it was ?20m for the shares + a ?6.5m pound loan...it is. However they spend the ?6.5m+ a lot more in next three/ four months as working capital. In 90 days they have to repay Sarvar ?6.5 m and Ashley ?3m meaning that there will be max of ?10.5m of the ?20m left come April and Sarvar will have complete control. He will be paying ?20m for the Club and it's debts. Not likely to happen though because the bears, King and small shareholders will block it. This is just positioning from Ashley to protract the pain until the penalty elements of his onerous contracts kick in. If I'm wrong and Sarvar actually wants control then he also has to offer to buy out all other shareholders at 20p per share which will cost him another ?20m+. Surely he isn't that stupid. Link to comment Share on other sites More sharing options...
davieholt Posted January 8, 2015 Share Posted January 8, 2015 If MA isn't interested in owning Rangers (the conventional wisdom here) then surely Sarver can't be a front for MA? If I was an orc, I would be pretty happy at this development. Link to comment Share on other sites More sharing options...
Tasavallan Posted January 8, 2015 Share Posted January 8, 2015 If MA isn't interested in owning Rangers (the conventional wisdom here) then surely Sarver can't be a front for MA? If I was an orc, I would be pretty happy at this development. Agree, but the issue is going to be where does Sarvar buys his ?20M worth of shares from and at what price. Link to comment Share on other sites More sharing options...
Dalstonjambo Posted January 8, 2015 Share Posted January 8, 2015 The problem is you can sell them on the open market at the moment for 26.5p Only if someone will buy them.. Link to comment Share on other sites More sharing options...
davieholt Posted January 8, 2015 Share Posted January 8, 2015 Agree, but the issue is going to be where does Sarvar buys his ?20M worth of shares from and at what price. The idea seems to be a placing which would create enough shares for Sarver to gain control. This would require the agreement of 75% of existing shareholders. Link to comment Share on other sites More sharing options...
jambo191 Posted January 8, 2015 Share Posted January 8, 2015 Hurry up and just die please. Horrible club. Link to comment Share on other sites More sharing options...
Tasavallan Posted January 8, 2015 Share Posted January 8, 2015 (edited) The idea seems to be a placing which would create enough shares for Sarver to gain control. This would require the agreement of 75% of existing shareholders. Which would mean all the other pigs around the trough having their %age share ownership of Sevco diminished. There is a lot of nests to get feathered here. Edited January 8, 2015 by Tasavallan Link to comment Share on other sites More sharing options...
I.T.K Posted January 8, 2015 Share Posted January 8, 2015 The idea seems to be a placing which would create enough shares for Sarver to gain control. This would require the agreement of 75% of existing shareholders. Trying to buy Rangers must be like trying to buy a whole house but needing to buy each room from different people. Link to comment Share on other sites More sharing options...
scottg71 Posted January 8, 2015 Share Posted January 8, 2015 Interesting that the Ashley-owned USC are going into administration and are appointing Duff & Phelps. You really couldn't make this up. A complete carve up Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
Australis Posted January 8, 2015 Share Posted January 8, 2015 Tweet Rangers latest Douglas Fraser Business and economy editor, Scotland Brentford's paid up for Lewis Macleod transfer, so Easdale loan paid off. (Buys a few more weeks, but this doesn't look good). Link to comment Share on other sites More sharing options...
sim Posted January 8, 2015 Share Posted January 8, 2015 This really is nuts. It's like the Black Knight in Monty Python. I think you've nailed it with that comparison Link to comment Share on other sites More sharing options...
sim Posted January 8, 2015 Share Posted January 8, 2015 I think you've nailed it with that comparison Incidentally, that would also explain how well Rangers have been doing on the pitch as well. Pretty difficult to defend with only one leg etc Link to comment Share on other sites More sharing options...
Dutchmul Posted January 8, 2015 Share Posted January 8, 2015 Tweet Rangers latest Douglas Fraser Business and economy editor, Scotland Brentford's paid up for Lewis Macleod transfer, so Easdale loan paid off. (Buys a few more weeks, but this doesn't look good). Presumably they used some of the telfer cash from dundee utd as the up front payment from brentford was only 400k. So they are back to square one, no cash and bills piling up, wages, NI, PAYE & VAT all due within the next 4/5 weeks. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted January 8, 2015 Share Posted January 8, 2015 Hurry up and just die please. Horrible club.Not going to happen. Link to comment Share on other sites More sharing options...
Charlie-Brown Posted January 8, 2015 Share Posted January 8, 2015 Not going to happen. Nope it isn't but they will be hamstrung this season whilst events resolve themselves. Going forward the question is will they be run financially on a sensible sustainable path or will it be This is Rangers FC gung ho back to where we belong Champions League yada yada yada......depends who wins control. Link to comment Share on other sites More sharing options...
Unknown user Posted January 8, 2015 Share Posted January 8, 2015 Hurry up and just die please. Horrible club. Not going to happen mate. There'll be a Rangers in one form or another for a long time to come. Tens of thousands of football supporters don't just stop existing. As long as Celtic exist, there'll be a group of people who can't let the "taigs" win. There'll be further ignominy and embarrassment by the bucket load for them though, the OF game's not far away for example Link to comment Share on other sites More sharing options...
soonbe110 Posted January 8, 2015 Share Posted January 8, 2015 If MA isn't interested in owning Rangers (the conventional wisdom here) then surely Sarver can't be a front for MA? If I was an orc, I would be pretty happy at this development. Delaying tactic until they get into even deeper trouble. Link to comment Share on other sites More sharing options...
jambovambo Posted January 8, 2015 Share Posted January 8, 2015 I think you've nailed it with that comparison Why, thank you ... "It's only a scratch" ... Link to comment Share on other sites More sharing options...
Unknown user Posted January 8, 2015 Share Posted January 8, 2015 This piece from the past perfectly illustrates the fairytales they spun when the truth was so very different. http://m.scotsman.com/sport/football/spfl-lower-divisions/charles-green-claims-mike-ashley-will-earn-rangers-10m-a-year-1-2461089 Reading that again, is it possible that Green was actually well meaning as far as the club were concerned, but just thick as utter **** and easily taken advantage of by actual businessmen? Link to comment Share on other sites More sharing options...
gfpete Posted January 8, 2015 Share Posted January 8, 2015 Incidentally, that would also explain how well Rangers have been doing on the pitch as well. Pretty difficult to defend with only one leg etc Tis but a flesh wound Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted January 8, 2015 Share Posted January 8, 2015 The board has issues a statement on the revised proposal The Directors thank Mr Sarver for his continuing interest in Rangers. They are studying the Revised Proposal which was received last night, and are consulting with major shareholders, to understand whether the proposal is capable of being implemented. A further announcement will be made shortly. Link to comment Share on other sites More sharing options...
My son's a Jambo Posted January 8, 2015 Share Posted January 8, 2015 It needs a 75% approval rate for any deal to go through. Can be easily kyboshed by the 3brs & king .. Does beg the question of against what the ?6.5m loan is proposed to be secured. Whurs the deeds? Link to comment Share on other sites More sharing options...
Toonpack Posted January 8, 2015 Share Posted January 8, 2015 (edited) If Sarver is indeed linked to Ashley, this could be a genius play. Board consult King and the 3 teddies and they say bugger off, the board can then say the Rangers men kyboshed it, we (the Ashley camp) would have accepted it, whatever happens next is King etc's fault. Edited January 8, 2015 by Toonpack Link to comment Share on other sites More sharing options...
Seymour M Hersh Posted January 8, 2015 Share Posted January 8, 2015 Does beg the question of against what the ?6.5m loan is proposed to be secured. Whurs the deeds? Was thinking exactly the same when I read it was a short term secured loan. Secured against what I wonder. Link to comment Share on other sites More sharing options...
Shug73 Posted January 8, 2015 Share Posted January 8, 2015 Was thinking exactly the same when I read it was a short term secured loan. Secured against what I wonder. Looks like it is secured against "the proceeds of the placing". Link to comment Share on other sites More sharing options...
BRAVEHEART1874 Posted January 8, 2015 Share Posted January 8, 2015 Sevco still banking on winning the play offs easily doesn't sound like them does it then hoping to be selling 20-30,000 st on the basis of spl footie next year to pay back a whopping 9 million odd loan now if this deal is accepted then? Desperate times need desperate measures eh? Just imagine the chit when queen of the south, hibs or Ross county beat them Link to comment Share on other sites More sharing options...
Unknown user Posted January 8, 2015 Share Posted January 8, 2015 Sevco still banking on winning the play offs easily doesn't sound like them does it then hoping to be selling 20-30,000 st on the basis of spl footie next year to pay back a whopping 9 million odd loan now if this deal is accepted then? Desperate times need desperate measures eh? Just imagine the chit when queen of the south, hibs or Ross county beat them You can see their point, after all they're keeping their good young players and augmenting then with quality additions hoho Link to comment Share on other sites More sharing options...
...a bit disco Posted January 8, 2015 Share Posted January 8, 2015 This piece from the past perfectly illustrates the fairytales they spun when the truth was so very different. http://m.scotsman.com/sport/football/spfl-lower-divisions/charles-green-claims-mike-ashley-will-earn-rangers-10m-a-year-1-2461089 Should that not read 'Mike Ashley will earn 10 million a year FROM Rangers says Green'? Link to comment Share on other sites More sharing options...
Turkishcap Posted January 8, 2015 Share Posted January 8, 2015 Sevco still banking on winning the play offs easily doesn't sound like them does it then hoping to be selling 20-30,000 st on the basis of spl footie next year to pay back a whopping 9 million odd loan now if this deal is accepted then? Desperate times need desperate measures eh? Just imagine the chit when queen of the south, hibs or Ross county beat them All the more reason for us to keep winning, we don`t want involved in the end of season scrap.....lets win this league then sit back and enjoy the melee. Link to comment Share on other sites More sharing options...
Don Dan Posted January 8, 2015 Share Posted January 8, 2015 Usc stores making first ministers question time with Ashley's name highlighted. Multimillionaire Ashey bumps staff with no notice. Ruthless or what. Link to comment Share on other sites More sharing options...
BRAVEHEART1874 Posted January 8, 2015 Share Posted January 8, 2015 Oops Read it will only be ?6.5 mill to pay in 90 days as the loan should be used to pay of Ashley's 3 mill ah well still goosed i can See some more cheering a hibs goal if they beat sevco in a play off Link to comment Share on other sites More sharing options...
Cairneyhill Jambo Posted January 8, 2015 Share Posted January 8, 2015 (edited) Usc stores making first ministers question time with Ashley's name highlighted. Multimillionaire Ashey bumps staff with no notice. Ruthless or what. And doing a midnight flit of all their stock from the USC warehouse in Ayrshire with Sports Direct lorries. They even asked the staff who were about to be made redundant to help them. You couldn't make it up. http://news.stv.tv/west-central/305701-mike-ashley-owned-usc-fashion-chain-to-axe-jobs-at-scots-warehouse/ Edited January 8, 2015 by Cairneyhill Jambo Link to comment Share on other sites More sharing options...
Deevers Posted January 8, 2015 Share Posted January 8, 2015 I don't think that any of the protagonists have actually got the money to make Newco work as it stands just now. This bitter in fighting is just going to go on and on till they go bust again. Link to comment Share on other sites More sharing options...
AndrewB Posted January 8, 2015 Share Posted January 8, 2015 Meanwhile, what austerity measures have actually been undertaken by Llambias? What changes have been made that will really make a difference? Even if McCoist was pushed rather than jumped, that hasn't saved them a penny. McLeod leaving hasn't affected the day-to-day costs materially, I wouldn't have thought. Link to comment Share on other sites More sharing options...
Unknown user Posted January 8, 2015 Share Posted January 8, 2015 I don't think that any of the protagonists have actually got the money to make Newco work as it stands just now. This bitter in fighting is just going to go on and on till they go bust again. Ashley and the American certainly have that kind of money Link to comment Share on other sites More sharing options...
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