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The Rangers soap opera goes on and on.


Sergio Garcia

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If they pay fee's for players, I would be astounded. This guys had loads of clubs and birmingham dropped him after an iffy medical, sounds like just the player to light up the scottish 2nd tier this year.

Prepare to be astounded..........has the penny not dropped yet ?

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Prepare to be astounded..........has the penny not dropped yet ?

 

Which penny? That Ashley has saved Rangers, or that King is a "glib and shameless liar"? 

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I'd be delighted for sevco to start splashing cash on mid league english journeymen.

 

They have no scouring network to speak of therefore they will get poor value for money.

 

Good.

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Their need to fill spaces quickly is something other teams know (??????) and they may also take chances on players they otherwise wouldn't, just to get the numbers up - like someone who fails a medical.

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The Mighty Thor

Prepare to be astounded..........has the penny not dropped yet ?

 

Nope. You're going to have to enlighten me on this one too.

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Looks like we'll need to agree to disagree then, it was clearly a tongue in cheek comment and nothing more sinister than that as far as I'm concerned.

 

Back on topic, it'll be interesting to see if they decide that HMRC's full claim is valid or if they decide that the EBT component part isn't after taking legal advice- that alone will make a huge difference to everyone else's dividend

Agree on your first point.

 

The second point is dependant on whether HMRC win their current appeal at the UTT, or not, rather than being dependant on any third party advice BDO may receive.

 

HMRC win their appeal, they'll be a creditor, and be entitled to their share of the pot.

 

HMRC lose their appeal, they'll not be a creditor (for that part) and will have to withdraw their claim.

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Unknown user

Agree on your first point.

 

The second point is dependant on whether HMRC win their current appeal at the UTT, or not, rather than being dependant on any third party advice BDO may receive.

 

HMRC win their appeal, they'll be a creditor, and be entitled to their share of the pot.

 

HMRC lose their appeal, they'll not be a creditor (for that part) and will have to withdraw their claim.

I eventually got round to actually reading the earlier post properly and got there myself but cheers for clarifying!

 

So there'll essentially be 2 pots- the first will give out a dividend to creditors and the second will either go to HMRC if the EBT is deemed taxable or be divvied up among the other creditors if it isn't.

 

How am I doing so far?

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Footballfirst

I eventually got round to actually reading the earlier post properly and got there myself but cheers for clarifying!

 

So there'll essentially be 2 pots- the first will give out a dividend to creditors and the second will either go to HMRC if the EBT is deemed taxable or be divvied up among the other creditors if it isn't.

 

How am I doing so far?

 

It's not quite as simple as that.

 

HMRC will be guaranteed a dividend on the VAT, PAYE, NIC and Wee Tax Case amounts.  The EBT element, will have to be assessed following the end of the appeals process.  There were five EBT cases where liability was admitted.  The 30 or so EBT cases that involved termination payments were referred back to the FTTT (I don't know when it will be heard).  The remainder will be subject to an appeal to the Court of Session, starting 7th July.  Even if that appeal fails, HMRC will probably make a final appeal to the Supreme Court which will be the last step in the process.

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Footballfirst
Mike Ashley: SFA reject Rangers shareholder's appeal

Mike Ashley's appeal against a Scottish FA disciplinary tribunal finding that he breached dual interest rules has been rejected.

An appellate tribunal ruled against the appeal, but reduced the sanction imposed on the Rangers shareholder and Newcastle United owner.

The fine Ashley will have to pay is down from ?7,500 to ?1,000.

The English businessman has a stake in the Scottish Championship club of around 9%.

The disciplinary tribunal had found the Ashley-owned MASH Holdings Limited's credit facility agreement with Rangers and subsequent nomination of Derek Llambias to the club's board in breach of Disciplinary Rule 19 and Article 13 of the SFA's articles of association.

Ashley challenged the finding on the basis that it was a "determination which the Judicial Panel could not properly have issued on the facts of the case" and that "the sanction imposed is challenged in terms of paragraph 14.8.4 on the ground that it was excessive or inappropriate".

 

http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=2565&newsCategoryID=1&newsID=14949

Edited by Footballfirst
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Unknown user

It's not quite as simple as that.

 

HMRC will be guaranteed a dividend on the VAT, PAYE, NIC and Wee Tax Case amounts.  The EBT element, will have to be assessed following the end of the appeals process.  There were five EBT cases where liability was admitted.  The 30 or so EBT cases that involved termination payments were referred back to the FTTT (I don't know when it will be heard).  The remainder will be subject to an appeal to the Court of Session, starting 7th July.  Even if that appeal fails, HMRC will probably make a final appeal to the Supreme Court which will be the last step in the process.

Gotcha ;)

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Note of reasons from the appeal tribunal

 

http://www.scottishfa.co.uk/resources/documents/Disciplinary/DisciplinaryTribunalOutcomes/Michael%20Ashley%20-%20Appellate%20Tribunal.pdf

 

I wonder why the SFA are not as forthcoming with a Note of Reasons for Dave King?s FPP decision.

 

I would suggest that they only broadcast their justification for rejection not for approval. 

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http://www.philmacgiollabhain.ie/dave-king-offered-his-shares-to-ashley-at-meeting-on-june-12th/

 

 

Macgobbledygook suggests that King offered his shares to Ashley last week.

He has written some shite in his time but I think this is beyond the pale, even for him. I think he's heard the phrase "King was on club business in London" and put two and two together and made five tbh. His sycophantic Sellik following will lap it up and keep donating to his site but I think he's clutching at straws.

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King of the North

If King was in London but not to meet Warburton, then Phil's allegation suddenly looks a bit more credible

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If King was in London but not to meet Warburton, then Phil's allegation suddenly looks a bit more credible

Why would King even offer his shares to the one man that isn't allowed to take them..? :blink:

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Why would King even offer his shares to the one man that isn't allowed to take them..? :blink:

Exactly. McGobbler is talking bull again, he's just making more nonsense up in the hope that some of it might seem possible and those that are desperate to believe him are, well, believing him!

 

I would even doubt that the Lying King has ever met Big Mike in person.

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Anyway on a different tangent, King was quoted as saying: "On a scale of one to 100, [Ashley] doesn't get up to one in terms of a threat."

 

I wonder if he's gone up the scale at all over the last few weeks?

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Toxteth O'Grady

Why would King even offer his shares to the one man that isn't allowed to take them..? :blink:

And what would happen if Ashley did buy them?

 

A few grand fine from the SFA?

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King of the North

Don't get me wrong - I suspect there is nothing at all in the story, for the reasons mentioned - e.g. Ashley is not allowed to take them.

 

However, potless Paul stated that King was not at the EGM because he was on club business sounding out managers. Turns out that was bollocks.

 

I think 80 - 90% of Phil's stuff is wishful thinking.

 

But I am 100% certain that Dave King is a mendacious, glib and shameless liar.

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AllyjamboDerbyshire

Why would King even offer his shares to the one man that isn't allowed to take them..? :blink:

Desperation (King's that is)?

 

King is aware that Ashley won't help the club while he (King) is there, and this is King's way of 'throwing himself on his sword' to placate Ashley?

 

King believes the SFA will do anything to save TRFC? Far fetched I know!

 

He perhaps made the offer as part of a 'holistic' package?

 

There is also the fact that the SFA can't stop Ashley owning shares in any company; though, if they have the guts (a stupid notion, I know), under their own rules they can penalise TRFC if Ashley does increase his shareholding and, or, influence.

 

I doubt Ashley will let any organisation that wilts like the SFA stand in his way now that they have shown him their cowardice quotient!

 

Whether PMGB is correct in what he says, or not, it is becoming more evident as each day passes that King either doesn't have, or isn't prepared to commit, the money required to do what has to be done at TRFC. It is becoming more likely that the money he was relying on from all those stinking rich RRM isn't coming either, and probably didn't exist in the first place.

 

I don't know how accurate the claims of PMGB are, he may well be making it all up, but if I was a TRFC supporter, I would be wondering why no influential bear, and particularly those from the SMSM, was banging on the doors at Ibrox demanding a catagorical, on the record, statement that what he claimed was untrue!

 

I would also want to know, as he clearly wasn't meeting Mark Warburton, what 'club business' King was on that was so important it had to be done that very day, the very day he should have been fulfilling a major duty of the role he'd coveted for so long!

 

I suspect, though, that nobody who could elicit an answer to these questions actually wants to hear it.

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Desperation (King's that is)?

 

King is aware that Ashley won't help the club while he (King) is there, and this is King's way of 'throwing himself on his sword' to placate Ashley?

 

King believes the SFA will do anything to save TRFC? Far fetched I know!

 

He perhaps made the offer as part of a 'holistic' package?

 

There is also the fact that the SFA can't stop Ashley owning shares in any company; though, if they have the guts (a stupid notion, I know), under their own rules they can penalise TRFC if Ashley does increase his shareholding and, or, influence.

 

I doubt Ashley will let any organisation that wilts like the SFA stand in his way now that they have shown him their cowardice quotient!

 

Whether PMGB is correct in what he says, or not, it is becoming more evident as each day passes that King either doesn't have, or isn't prepared to commit, the money required to do what has to be done at TRFC. It is becoming more likely that the money he was relying on from all those stinking rich RRM isn't coming either, and probably didn't exist in the first place.

 

I don't know how accurate the claims of PMGB are, he may well be making it all up, but if I was a TRFC supporter, I would be wondering why no influential bear, and particularly those from the SMSM, was banging on the doors at Ibrox demanding a catagorical, on the record, statement that what he claimed was untrue!

 

I would also want to know, as he clearly wasn't meeting Mark Warburton, what 'club business' King was on that was so important it had to be done that very day, the very day he should have been fulfilling a major duty of the role he'd coveted for so long!

 

I suspect, though, that nobody who could elicit an answer to these questions actually wants to hear it.

 

Pretty much this.

 

Re ashley buying king's shares(hypothetical but hear me out) ashley can set up a subsidiary company and buy them using that, he doesn't have to put "mike ashley" as the owner of the shares.

 

The question would be, why would ashley want them? he doesn't need them, he has the retail side sown up, has security over all the assets except the asbestos dome and just needs to count the cash coming in each year safe in the knowledge that if it all goes tit's up, he'll get his money back because of the securities he holds.

 

And does anyone really expect the sfa/spfl to threaten sevco's existence by hassling ashley if he did buy more shares???

 

As far as I can see, king and the 3 stooges and mini me have quickly found out how broken, mismanaged and financially fecked sevco are. King will not pour millions of his own money into sevco for several reasons 1) I don't believe his wealth is a s big as the media make it out to be 2) he prefers to spend other peoples money 3) he'll never see it again.

 

The plea to the fans to buy 45k season tickets is a final throw of the dice financially, when that fails(and it will) expect some major problems at ibrokes.

 

The issue for me about all the bleating about RRM being in charge is this, the RRM could have bought the festering pile of shite in it's entirety back in 2012 for less than they have loaned the club and paid out for shares, but they didn't, why was that??? the mess they are in now could have been prevented but they did nothing so they are partially to blame for this crash crash, also king called for a boycott of season tickets a year ago which resulted in them having to get loans to keep the lights on, good idea dave, how has that worked out for you.

 

It continues to be comedy gold and this will run for a while yet.

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Payday this week, which will see the first ?1m - ?2m (guesstimate) of season ticket money disappearing out the door....

Edited by The Gasman
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Angus Young

Don't get me wrong - I suspect there is nothing at all in the story, for the reasons mentioned - e.g. Ashley is not allowed to take them.

 

However, potless Paul stated that King was not at the EGM because he was on club business sounding out managers. Turns out that was bollocks.

 

I think 80 - 90% of Phil's stuff is wishful thinking.

 

But I am 100% certain that Dave King is a mendacious, glib and shameless liar.

 

 

Yes i am with you on this one i think the Glib and Shameless Liar has bitten of way to much than he can chew and he is now panicking potless Paul has nothing to loose as we all know he has no money but the Glib one was talking 40 million war chests last year but so far has not stumped up the cash.

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Payday this week, which will see the first ?1m - ?2m (guesstimate) of season ticket money disappearing out the door....

With 10/11 of their high earners now out of contract, I can't see their wage bill being anywhere near as high as it has been tbh.

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Desperation (King's that is)?

 

King is aware that Ashley won't help the club while he (King) is there, and this is King's way of 'throwing himself on his sword' to placate Ashley?

 

King believes the SFA will do anything to save TRFC? Far fetched I know!

 

He perhaps made the offer as part of a 'holistic' package?

 

There is also the fact that the SFA can't stop Ashley owning shares in any company; though, if they have the guts (a stupid notion, I know), under their own rules they can penalise TRFC if Ashley does increase his shareholding and, or, influence.

 

I doubt Ashley will let any organisation that wilts like the SFA stand in his way now that they have shown him their cowardice quotient!

 

Whether PMGB is correct in what he says, or not, it is becoming more evident as each day passes that King either doesn't have, or isn't prepared to commit, the money required to do what has to be done at TRFC. It is becoming more likely that the money he was relying on from all those stinking rich RRM isn't coming either, and probably didn't exist in the first place.

 

I don't know how accurate the claims of PMGB are, he may well be making it all up, but if I was a TRFC supporter, I would be wondering why no influential bear, and particularly those from the SMSM, was banging on the doors at Ibrox demanding a catagorical, on the record, statement that what he claimed was untrue!

 

I would also want to know, as he clearly wasn't meeting Mark Warburton, what 'club business' King was on that was so important it had to be done that very day, the very day he should have been fulfilling a major duty of the role he'd coveted for so long!

 

I suspect, though, that nobody who could elicit an answer to these questions actually wants to hear it.

Good post but in regards to PMG, why would anyone at Sevco or the MSM give him the time of day? Biting to his nonsense is exactly what he wants and let's face it, he may have been right on one or two things in the past. Therefore if Sevco say "that's libellous" and demand a retraction about something he writes, then what when he gets something right?! He's small time really so is best ignored by all! Edited by Strachsuit
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With 10/11 of their high earners now out of contract, I can't see their wage bill being anywhere near as high as it has been tbh.

You're right, but their previous wage bill was only a (relatively) small part of their monthly outgoings. They are also now paying for a new management team (while still paying McCoist) and a new Chief Executive, while continuing to stump up for the "onerous contracts" like SD's retail one.

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AllyjamboDerbyshire

Good post but in regards to PMG, why would anyone at Sevco or the MSM give him the time of day? Biting to his nonsense is exactly what he wants and let's face it, he may have been right on one or two things in the past. Therefore if Sevco say "that's libellous" and demand a retraction about something he writes, then what when he gets something right?! He's small time really so is best ignored by all!

No need for TRFC to 'bite' at all. They could simply leak the truth to one of their pet hacks, making no reference to PMGB. I'm sure Jackson would love to be the one with the exclusive on whatever club business King was carrying out at the time of the EGM. We know who King wasn't talking to on that day, Warburton, and that he is happy to leave the negotiations with club manager, and players, to his mates, so he wasn't doing interviews! So, either, his absence had nothing to do with TRFC, he didn't want to appear at the EGM (avoiding awkward questions), or his club business was not something that would help with ST sales if published.

 

He might have been negotiating with a NOMAD or market provider, but I doubt that, as they wouldn't have insisted on a meeting when King should have been attending an EGM (doubt they'd be impressed by his absence), and it has to be something very important and pressing, so, if not Ashley, and he was there on club business, then he was there looking for finance. If I was PMGB, trying to cause disquiet, that's what I'd have woven a story around. Instead PMGB's narrative is not only sensational, it is specific, providing two camps that can blow his story apart and so shut him up.

 

It certainly makes sense (though that proves nothing) because it would be very like Mike Ashley to make life difficult for King by only agreeing to see him when he should be elsewhere! Personally, I would hope he wasn't with Ashley, as that would indicate that King has come to realise that he can't cut it and is ready to get out. I see TRFC's best hope of surviving (unspectacularly) as being with Ashley (or his placemen) at the helm, while King, even if he should find the immediate finance, will spend his way to disaster (for the club) before sloping off to SA.

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Toxteth O'Grady

With 10/11 of their high earners now out of contract, I can't see their wage bill being anywhere near as high as it has been tbh.

Warbuton and wier have been added to the payroll
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I P Knightley

With 10/11 of their high earners now out of contract, I can't see their wage bill being anywhere near as high as it has been tbh.

Player contracts were up to June - presumably end of the month - so things only get better for them next month.

 

There'll be end of season bonus packages to pay out - wouldn't be surprised if there were a few tidy sums paid out, despite the abject outcome of their season.

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Geoff Kilpatrick

"For the avoidance of doubt, I have no idea where this shambles goes next."

 

Probably the most accurate statement that he's ever actually posted. :rolleyes:

 

Needs a "dear reader" count as well, IMO.

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Angus Young

now these guys have got a plan  http://www.eveningtimes.co.uk/sport/rangers/13347504.Rangers_First_members_back_Sports_Direct_boycott/? it is a shame that by not buying the strips the onerous contract that big Mike has in place states that the club will be required to make up the shortfall.

 

More pain and money to be forked out by the glib and shameless Liar or maybee he can use the season ticket money from the 45k who he wants to stump up the cash for him to use. Why spend your own money when you can get other peoples money to use it is the Glib and shameless way of doing business after all.

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Time for a few posters to wake up and come to terms that they aren't going away, they will romp the league this time. To many people talking hibs up.

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BRAVEHEART1874

Like they romped it last year ? Well they better or their fans will desert them in droves this time

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Time for a few posters to wake up and come to terms that they aren't going away, they will romp the league this time. To many people talking hibs up.

Thats what some of OUR fans said last year

 

Lol

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Brick Tamland

Time for a few posters to wake up and come to terms that they aren't going away, they will romp the league this time. To many people talking hibs up.

Why do you think they will romp the league? Is it just because it is their rightful duty and that's how things are and should be? Or are you basing this on their existing playing squad and management and have insight into the players they are going to "over invest" in to build this new team.....

 

There is a new and unproven coach/manager in place who will have no idea about how things are in Glasgow. Might be great but might be as successful as LeGuen/McCoist/McCall

That new coach will need to completely build a new team around those that weren't good enough last season. Might do it but might not.

That new team need to gel and get to know each other as well as the manager very very quickly so as to avoid some of the pressure to get off to a flyer so that the fans don't turn on them because if they do turn then that pressure will be very credible and severe.

There is still utter turmoil in the boardroom which does have an effect on these new players and there may well be even greater turmoil in the boardroom to come either before the season starts or during it.

The pressure to win the league from the boardroom will be incredible just as the pressure to win the league from the fans will be incredible.

Their signings so far have been at best meh and if that's "over investing" in the playing squad then I'd hate to see them do austerity.

Hibs, St. Mirren, Falkirk, Raith Rovers and QoS are all more than capable off taking points of them, not to forget their bogey team Alloa. I also think Livi might be a bit stronger this year.

 

So for these reasons I'd argue that it's time some posters on here wake up and come to terms that they might not win the league this time either.

Edited by Brick Tamland
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Why do you think they will romp the league? Is it just because it is their rightful duty and that's how things are and should be? Or are you basing this on their existing playing squad and management and have insight into the players they are going to "over invest" in to build this new team.....

 

There is a new and unproven coach/manager in place who will have no idea about how things are in Glasgow. Might be great but might be as successful as LeGuen/McCoist/McCall

That new coach will need to completely build a new team around those that weren't good enough last season. Might do it but might not.

That new team need to gel and get to know each other as well as the manager very very quickly so as to avoid some of the pressure to get off to a flyer so that the fans don't turn on them because if they do turn then that pressure will be very credible and severe.

There is still utter turmoil in the boardroom which does have an effect on these new players and there may well be even greater turmoil in the boardroom to come either before the season starts or during it.

The pressure to win the league from the boardroom will be incredible just as the pressure to win the league from the fans will be incredible.

Their signings so far have been at best meh and if that's "over investing" in the playing squad then I'd hate to see them do austerity.

Hibs, St. Mirren, Falkirk, Raith Rovers and QoS are all more than capable off taking points of them, not to forget their bogey team Alloa. I also think Livi might be a bit stronger this year.

 

So for these reasons I'd argue that it's time some posters on here wake up and come to terms that they might not win the league this time either.

Whatever way you look at it Rangers should do enough this year to get at least into the playoffs without really trying. St Mirren have released a load of players, Falkirk and qots have lost their best players and realistically it is a 2 horse race between Rangers and Hibs. The interesting thing is that Hibs may get off to a flyer in which case it will be hard for Rangers to catch them in such a weakened league. Nevertheless by the summer, is Warburton is any good as a manager his budget should see them to promotion, whether it be automatic or not...IF they last that long, as there are big boardroom issues to be resolved.
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i personally think it would be foolish to talk down their chances next season, but i also think teams might now see them for what they are...  capable of being beaten by anyone.

 

on paper they should walk the league, but so many of us thought that last year, yet they finished third behind a not so great hibs.

 

on paper they might be the strongest in the league but time will tell.

 

 

anyhoo, how do we know dannys wages (if we do?) and how does that affect their budget/warchest?  what do we know as i'm not completely up to speed in the saga yet

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Footballfirst

The Daily Mail is the first of the MSM to confirm the Ashley / King meeting last week.

 

CIOGbVPXAAEt5gK.jpg

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I wonder if Ashley's camp leaked this in a bid to discredit king ?. [emoji4]

According to many on here Ashley does not have to negotiate so why even meet King ?

 

Unless of course he is open to a renegotiation but that could never happen...could it ?

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Time for a few posters to wake up and come to terms that they aren't going away, they will romp the league this time. To many people talking hibs up.

 

I wish they would go away, they are like something nasty in the toilet that wont flush.

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