SUTOL Posted September 10, 2015 Share Posted September 10, 2015 Piece from the Herald.. Surely now it's about time this thread was closed, nothing much more is going to happen.... Link to comment Share on other sites More sharing options...
CollyWolly Posted September 10, 2015 Share Posted September 10, 2015 (edited) . Edited September 10, 2015 by CollyWolly Link to comment Share on other sites More sharing options...
SUTOL Posted September 10, 2015 Share Posted September 10, 2015 Do any other threads on the board get closed ? Yes several have been. But, do you think I was being serious? After what has just been posted. :-S Link to comment Share on other sites More sharing options...
Biffa Bacon Posted September 10, 2015 Share Posted September 10, 2015 I've just seen on Facebook they're selling season tickets with 25% off. After three home games. Sounds like desperation. Undermining the fans that have paid full price. Sends out a message for next season too, hold off buying to get a discount..... Link to comment Share on other sites More sharing options...
CollyWolly Posted September 10, 2015 Share Posted September 10, 2015 Yes several have been. But, do you think I was being serious? After what has just been posted. :-S Ahhhh you caught me before I deleted it"........lol Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted September 10, 2015 Share Posted September 10, 2015 I've just seen on Facebook they're selling season tickets with 25% off. After three home games. Is it 25% off of the remaining home league games or 25% off of what a whole league schedule would have cost you 6 weeks ago? Link to comment Share on other sites More sharing options...
Footballfirst Posted September 10, 2015 Share Posted September 10, 2015 (edited) Dave King wants to revive the Oldco http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-vows-bring-back-6420730 Dave King vows to bring back Oldco: 'They say we're not Rangers anymore.. I want to put that behind us' IBROX chief King says he plans to take Rangers Oldco out of liquidation and put an end to the bating of the fans by their rivals. DAVE KING has lifted the lid on his plan to rescue Rangers Oldco from liquidation and return the club to the condition it was in before the financial meltdown of 2012. King ? who has returned to Glasgow from South Africa to head up the club?s next board meeting ? dropped the bombshell during a round of interviews at Ibrox yesterday and insists there is a legal mechanism in place which could unwind all the damage done to the club since its collapse under Craig Whyte. With liquidators BDO continuing to pursue millions of pounds worth of damages on behalf of the creditors who were left around ?50m out of pocket, there is now at least an outside possibility that enough cash could be recouped to pay that sum back in full. And while the process of reversing the liquidation of any distressed company - let alone one which is currently at the centre of a cluster of high profile legal cases - would be extraordinarily complex, King insists it can be done. He said: ?We have a vision going forward where I would like to see us taking Oldco out of liquidation and putting assets back into Oldco - putting Rangers back into the old company. We can?t do it while all this stuff is being sorted out. ?It would be a good thing to do. It would be back to the traditional Rangers. I think the supporters would like it. It is not economically important but it is something I would like to do. It would provide a sense of closure. "You can never rewind what has happened but in 100 years? time you might look back and say there was a blip of four or five years in Rangers? history when this all happened and it was resolved to the norm again. ?It is practically feasible and legally feasible. We just have to get in the position where the liquidators have done everything they can. The club can then be rehabilitated.? Liquidators BDO have already clawed back more than ?25m in an out of court settlement with lawyers Collier Bristow and are expected to make even more big money litigation claims in the future. And while King - himself a creditor of oldco to the tune of ?1.4m - insists he wants everyone to be repaid in full he also admits to being motivated by a desire to bring to an end three years of merciless bating of the Rangers support by their rivals. He added: ? It?s an emotional thing as well with the supporters. They hear all this, ?you?re not Rangers any more?. And ?You are a new club.? ?We just want to put all that behind us and say we had this unwanted period and now we are back to where we were. I think it would be a good thing.? Edited September 10, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
Footballfirst Posted September 10, 2015 Share Posted September 10, 2015 Also a Q&A http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-qa-rangers-chairman-6420455 Link to comment Share on other sites More sharing options...
Don Dan Posted September 10, 2015 Share Posted September 10, 2015 (edited) Mendacious David can spraff on all he likes about Rangers being resurrected but it's looking more and more likely the Big Hoose will be repossessed to satisfy the securities that exist over it. He's painting a rosy picture of the financial position but if you read between the lines they need more than ticket money to survive. Im surprised (I'm not really) that nobody from the media has challenge King about his loans or the Three Bears for that matter. Real Rangers men would have gifted the monies but these charlatans want it back at some point. Just like his ?18m he invested in the dead club he's got a claim in for that as well. He spoke about reviving the Old Rangers if he did I'm sure Hector will be knocking on his bank balance wanting their/our money. King is a Walter Mitty character without a doubt. No mention of the ?5m Ashely loan either. Edited September 10, 2015 by Dannie Boy Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted September 10, 2015 Share Posted September 10, 2015 It all seems a little like things are about to implode. This Oldco nonsense is a forerunner to something big I reckon. Link to comment Share on other sites More sharing options...
269miles Posted September 10, 2015 Share Posted September 10, 2015 HOW IMPORTANT IS IT FOR RANGERS TO BE REPRESENTED ON THE BOARDS OF THE SPFL AND SFA?DK: ?It?s important because we want that level of influence and I think it?s important because it befits who Rangers Football Club are. ****************************************************************************************************************************************************** And that's why no one like Rangers. They had "that level of influence" before and the EBT fiasco and the failure of Rangers / Ogilvie to come clean should mean Rangers being banned forever from any office of influence. They are feckin shameless. Link to comment Share on other sites More sharing options...
RobNox Posted September 10, 2015 Share Posted September 10, 2015 Here's the most pertinent quote I pulled out from the DR article He remained vague on some aspects, in particular his own plans to bankroll the club?s continued revival. Link to comment Share on other sites More sharing options...
jambovambo Posted September 10, 2015 Share Posted September 10, 2015 I am completely lost. But i love it. Link to comment Share on other sites More sharing options...
Dunks Posted September 10, 2015 Share Posted September 10, 2015 Hibs have denied DK's version of events. What a shock Link to comment Share on other sites More sharing options...
ERJEAN51 Posted September 10, 2015 Share Posted September 10, 2015 (edited) The man can't make his mind up. Why is he giving the club loans? I thought he was willing to sacrifice his kids inheritance. So in effect Rangers are now in more debt? THERE ARE RUMOURS THAT THE CLUB DOES NOT HAVE ENOUGH WORKING CAPITAL TO GET TO THE END OF THE YEAR. IF EXISTING SHAREHOLDERS ARE HAPPY TO FUND THE CLUB, HAVE THERE BEEN ADDITIONAL LOANS PUT IN TO SERVICE RUNNING COSTS?DK: ?There are already the loans of over ?4m put in by myself and the Three Bears, which were for working capital and financing that took the club through the period from the end of last season to the beginning of this season.?Funds would no longer be required now because of season ticket sales, which are of levels above what we were budgeting on.?Additional funding would only be required depending on transfer activity into probably the end of the first quarter of next season, so we are very comfortably funded for the next six months.?Myself and the Three Bears have indicated to the board and to Mark (Warburton) that we will continue to fund on the basis we are doing.?The season ticket cash is not enough to get us through to the end of this season. We know that.?The deficit we had looked at the previous board meeting five weeks ago is now less, because the season ticket position is better than we expected and we?ve had a lot of walk-ups and full attendances.? Edited September 10, 2015 by RH1977 Link to comment Share on other sites More sharing options...
Zico Posted September 10, 2015 Share Posted September 10, 2015 The man can't make his mind up. Why is he giving the club loans? I thought he was willing to sacrifice his kids inheritance. So in effect Rangers are now in more debt?That was the part that caught my eye. Lamb overdose from the journo? Link to comment Share on other sites More sharing options...
DesertDawg Posted September 11, 2015 Share Posted September 11, 2015 So, re Scott Allan, the Hibs CEO states "I took the call from Rangers." Doesn't say who she took the call from though. Seems that nobody is prepared to say who made the call..........and if it was the other way around, as stated by Dave King, who MADE the call? Link to comment Share on other sites More sharing options...
foghorn5 Posted September 11, 2015 Share Posted September 11, 2015 Your not Rangers anymore Your not Rangers anymore Your not Rangers Your not Rangers Your not Rangers anymore Your not Rangers anymore You let your club die You let your club die you sat on your arses and let your club die Link to comment Share on other sites More sharing options...
Seymour M Hersh Posted September 11, 2015 Share Posted September 11, 2015 I'm beginning to think the the GASL is certifiable and should be sectioned under the mental health act. He's a complete loon. Link to comment Share on other sites More sharing options...
King of the North Posted September 11, 2015 Share Posted September 11, 2015 (edited) So Dave King joins Jim Traynor, Walter Smith, Steven Naismith and the rest of Scottishfootball in admitting that this current team playing out of Ibrox is a new club. Excellent. Bet the Hun hordes find that a bit upsetting and confusing, having spent the last four years trying desperately to convince themselves otherwise. Their poor, misshapen heads must be spinning... Edited September 11, 2015 by King of the North Link to comment Share on other sites More sharing options...
Jamdub Posted September 11, 2015 Share Posted September 11, 2015 I'm beginning to think the the GASL is certifiable and should be sectioned under the mental health act. He's a complete loon. Correct, while the knuckle draggers hang onto the absolute pish that he spouts, reviving Oldco, aye good luck with that whopper of a lie. YOUR NOT RANGERS ANYMORE !!! Link to comment Share on other sites More sharing options...
Paolo Posted September 11, 2015 Share Posted September 11, 2015 Correct, while the knuckle draggers hang onto the absolute pish that he spouts, reviving Oldco, aye good luck with that whopper of a lie. YOUR NOT RANGERS ANYMORE !!! I would love it, if he did, and then HMRC won their appeal on the big tax case, and liquidated them again. Link to comment Share on other sites More sharing options...
Angus Young Posted September 11, 2015 Share Posted September 11, 2015 Dave King wants to revive the Oldco http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-vows-bring-back-6420730 So as Jones in Dads Army would say " They dont like it up them " der cheating huns do not like the oldco banter well that is music to my ears and conformation from the Glib Liar that they are a Newco/Sevco NOW THEY WANT TO GO BACK TO BEING OLDCO. With Oldco having over 25 million in the bank and Newco pot less you can see why the Glib and Shameless Liar wants to go Link to comment Share on other sites More sharing options...
Stupid Sexy Flanders Posted September 11, 2015 Share Posted September 11, 2015 Is it 25% off of the remaining home league games or 25% off of what a whole league schedule would have cost you 6 weeks ago? I didn't think to really read the article, I'm assuming it's 25% off the full pre-season price. Link to comment Share on other sites More sharing options...
Don Dan Posted September 11, 2015 Share Posted September 11, 2015 You'd have to wonder if the Lying King has realised that the assets of Rangers are owned by someone else and they may get emptied quite soon. Link to comment Share on other sites More sharing options...
Deevers Posted September 11, 2015 Share Posted September 11, 2015 He's basically admitting they are a new club otherwise why would he want to try to "unliquidate" oldco. ?. The mans mad. [emoji23] Sent from my iPad using Tapatalk The man has some brass neck - though obviously no brass! Link to comment Share on other sites More sharing options...
kingdannyb Posted September 11, 2015 Share Posted September 11, 2015 Dave King is Glenn Beck. Link to comment Share on other sites More sharing options...
Mikey1874 Posted September 11, 2015 Share Posted September 11, 2015 Your not Rangers anymore Your not Rangers anymore Your not Rangers Your not Rangers Your not Rangers anymore Your not Rangers anymore You let your club die You let your club die you sat on your arses and let your club die seems that has upset the Rangers fans Link to comment Share on other sites More sharing options...
Mysterion Posted September 11, 2015 Share Posted September 11, 2015 At some point someone in Rangers needs to stand up and stop King talking to the press as he's becoming a parody of himself. Lets face it - their PR guys are happy for him to create a quagmire every time he has a press conference so they create more work for themselves. Self interest with the vultures of Rangers is alive and kicking... Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted September 11, 2015 Share Posted September 11, 2015 At some point someone in Rangers needs to stand up and stop King talking to the press as he's becoming a parody of himself. Lets face it - their PR guys are happy for him to create a quagmire every time he has a press conference so they create more work for themselves. Self interest with the vultures of Rangers is alive and kicking... The old all conquering Rangers used to come out with this sort of outlandish nonsense all the time, King is from that era and obviously hasn't adjusted to the new reality of what people think of when it comes to their integrity. Link to comment Share on other sites More sharing options...
Deevers Posted September 11, 2015 Share Posted September 11, 2015 At some point someone in Rangers needs to stand up and stop King talking to the press as he's becoming a parody of himself. Lets face it - their PR guys are happy for him to create a quagmire every time he has a press conference so they create more work for themselves. Self interest with the vultures of Rangers is alive and kicking... You actually sense Jabbas hand at work in all of this. Everything that's said, is said really just for the consumption of ra people. Carefully crafted to give them a feel good sensation, whilst in reality all is really not that good inside the club. They've got to keep people coming through the turnstiles at all costs, while they search desperately for funding. In any case it might all be for nothing if Big Mike demands repayment of his loan. Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted September 11, 2015 Share Posted September 11, 2015 Just another point, he said he could get a deal with the creditors of the oldco for 50p or 60p in the ?, it is the tax man. he will only accept ?1 in the ?1, What is it with all the regimes at Fraudco that think we are all zipped up the back of the head? Link to comment Share on other sites More sharing options...
Paolo Posted September 11, 2015 Share Posted September 11, 2015 (edited) Is it possible that he fears 'assets' will be transferred back to Old Co, if any sale of them is found to be illegal or fraudulent? Edited September 11, 2015 by Claudia Link to comment Share on other sites More sharing options...
Dalstonjambo Posted September 11, 2015 Share Posted September 11, 2015 Also a Q&A http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-qa-rangers-chairman-6420455 FF - you might be able to answer this. I particularly took an interest in this.. 'Yes. At the moment if you look at the potential for the liquidation, with getting the money from Collier Bristow plus potential other claims, if HMRC are taken out the picture, then there is an opportunity for everyone to get 100p in the pound. Take Craig Whyte?s new claim out of the picture as well and people could conceivably get 100p in the pound.' Isn't King a creditor? So he's hatching a plan to get his money back essentially? Link to comment Share on other sites More sharing options...
Unknown user Posted September 11, 2015 Share Posted September 11, 2015 Your not Rangers anymore Your not Rangers anymore Your not Rangers Your not Rangers Your not Rangers anymore Your not Rangers anymore You let your club die You let your club die you sat on your arses and let your club die They could buy up every company in Scotland, it won't change a thing. Rangers fans will never ever ever ever hear the end of this, and rightfully so Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted September 11, 2015 Share Posted September 11, 2015 Be funny if Ashley bought OldCo. After Kings statement, he'd have a legitimate claim over owning the real Rangers. Link to comment Share on other sites More sharing options...
Paolo Posted September 11, 2015 Share Posted September 11, 2015 (edited) FF - you might be able to answer this. I particularly took an interest in this.. 'Yes. At the moment if you look at the potential for the liquidation, with getting the money from Collier Bristow plus potential other claims, if HMRC are taken out the picture, then there is an opportunity for everyone to get 100p in the pound. Take Craig Whyte?s new claim out of the picture as well and people could conceivably get 100p in the pound.' Isn't King a creditor? So he's hatching a plan to get his money back essentially? Perhaps KIng is. And then, he might give it back and claim it is him investing in the club. Anyway, I am not sure HMRC would be happy, and I am sure they will have a say. You cannot alter the fact the CVA was rejected, and HMRC, the largest creditor, rejected it. They died. That will always be the case. I suppose, at least King acknowledges the fact they died. Edited September 11, 2015 by Claudia Link to comment Share on other sites More sharing options...
Footballfirst Posted September 11, 2015 Share Posted September 11, 2015 (edited) FF - you might be able to answer this. I particularly took an interest in this.. 'Yes. At the moment if you look at the potential for the liquidation, with getting the money from Collier Bristow plus potential other claims, if HMRC are taken out the picture, then there is an opportunity for everyone to get 100p in the pound. Take Craig Whyte?s new claim out of the picture as well and people could conceivably get 100p in the pound.' Isn't King a creditor? So he's hatching a plan to get his money back essentially? Yes - he has a claim of ?20M as an unsecured creditor. There is no indication from BDO in their creditors reports that they are currently pursuing any other claims. Also HMRC have ?22M in unpaid taxes that are not part of the Big Tax Case. What might be interesting is to look at is BDO's proposed dividend to creditors. The BDO dividend to creditors which was delayed as a result of the Law Financial action was reported to be for total of ?10M at between 6p-7p in the ?. A couple of quick calculations using those numbers mean that the total unsecured creditors claim was ?167M at 6p or ?143M at 7p. The last BDO creditors' report indicated the that the total claim was ?169M (including King?s ?20M). That sum also included HMRC?s full claim of ?94M (?72M of which related to the BTC), also ?3.3M due to Football Creditors which should probably drop off the list as they have been paid in full by the Newco. It was also stated in BDO?s last report that HMRC?s share of the dividend, related to the BTC, would be retained until such time as the appeals process was concluded. By my reckoning, if the actual dividend was close to 7p in the ?, then it would suggest that King?s ?20M claim has been rejected. Edited September 11, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
Shanks Posted September 11, 2015 Share Posted September 11, 2015 I don't understand the purpose of spending millions reviving oldco, I thought they were the same club anyway? Has to be something big going on in the background..... Link to comment Share on other sites More sharing options...
Mikey1874 Posted September 11, 2015 Share Posted September 11, 2015 (edited) They could buy up every company in Scotland, it won't change a thing. Rangers fans will never ever ever ever hear the end of this, and rightfully so Reading the Q&A I was quite surprised that it is a real issue; that it has really got to them Edited September 11, 2015 by Mikey1874 Link to comment Share on other sites More sharing options...
Footballfirst Posted September 11, 2015 Share Posted September 11, 2015 (edited) I don't understand the purpose of spending millions reviving oldco, I thought they were the same club anyway? Has to be something big going on in the background..... I don't think it will ever be King's intention to spend millions. The scenario of attempting to resurrect the Oldco would only happen if BDO or the Newco was successful in claims for damages similar to that achieved via Collyer Bristow's insurers, e.g, if claims against Whyte, Green, D&P and others were successful, then the sums accrued could be enough to pay off the creditors. As I said above, I'm unaware of any other claims in the pipeline, although that could change depending on what is revealed in any future court cases. Edited September 11, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
systemx Posted September 11, 2015 Share Posted September 11, 2015 Page 1690 Link to comment Share on other sites More sharing options...
LeftBack Posted September 11, 2015 Share Posted September 11, 2015 Genuine question because Im confused by most of this - IF they became oldco then what becomes of the new club; would they no longer exist and therefore the old club/new club would have to reapply for membership? It is probably a stupid question but this resurrecting the dead has left me bewildered (as always) Link to comment Share on other sites More sharing options...
DETTY29 Posted September 11, 2015 Share Posted September 11, 2015 Genuine question because Im confused by most of this - IF they became oldco then what becomes of the new club; would they no longer exist and therefore the old club/new club would have to reapply for membership? It is probably a stupid question but this resurrecting the dead has left me bewildered (as always) Lower level league championships and petrofac cup failures confined to history or not to be recorded. And an Irish catholic never played for them either. Link to comment Share on other sites More sharing options...
HoGwash Posted September 11, 2015 Share Posted September 11, 2015 Just another point, he said he could get a deal with the creditors of the oldco for 50p or 60p in the ?, it is the tax man. he will only accept ?1 in the ?1, What is it with all the regimes at Fraudco that think we are all zipped up the back of the head?Exactly. I particularly liked how this statement was allowed to pass unchallenged as if nobody would notice it - "At the moment, if you look at the potential for the liquidation, with getting the money from Collyer Bristow plus potential other claims and if HMRC are taken out the picture, there is an opportunity for them to get 100p in the pound". How the *** can you just take HMRC out of the picture? Does King think that HMRC will somehow just forget about the oldco debt? Link to comment Share on other sites More sharing options...
LeftBack Posted September 11, 2015 Share Posted September 11, 2015 Exactly. I particularly liked how this statement was allowed to pass unchallenged as if nobody would notice it - "At the moment, if you look at the potential for the liquidation, with getting the money from Collyer Bristow plus potential other claims and if HMRC are taken out the picture, there is an opportunity for them to get 100p in the pound". How the *** can you just take HMRC out of the picture? Does King think that HMRC will somehow just forget about the oldco debt? Therein lies one of the biggest problems. No-one in the media is challenging this. Clearly they subscribe to Lenin's quote - a lie told often enough becomes the truth Link to comment Share on other sites More sharing options...
Diadora Van Basten Posted September 11, 2015 Share Posted September 11, 2015 Exactly. I particularly liked how this statement was allowed to pass unchallenged as if nobody would notice it - "At the moment, if you look at the potential for the liquidation, with getting the money from Collyer Bristow plus potential other claims and if HMRC are taken out the picture, there is an opportunity for them to get 100p in the pound". How the *** can you just take HMRC out of the picture? Does King think that HMRC will somehow just forget about the oldco debt? It is a completely ridiculous statement the pot has about 20 million in it and the creditors have claimed about 170 million. So to get 100 pence in the pound 150 million of the claims would have to be false. Also I have never heard of a company being bought back after a liquidation process. I think he is just proving the South African judge correct when he called him a glib and shameless liar. Link to comment Share on other sites More sharing options...
Mikey1874 Posted September 11, 2015 Share Posted September 11, 2015 Genuine question because Im confused by most of this - IF they became oldco then what becomes of the new club; would they no longer exist and therefore the old club/new club would have to reapply for membership? It is probably a stupid question but this resurrecting the dead has left me bewildered (as always) yes very confusing - two Rangers teams are playing each other in the womens cup - but.not what is meant here. Maybe the oldco would replace Rangers International the ownership vehicle? sure we'll get clarity from those with business experience Link to comment Share on other sites More sharing options...
Dutchmul Posted September 11, 2015 Share Posted September 11, 2015 Things must be very grim indeed at sevco to even contemplate what king is suggesting. The advantages are: ? acceptance that SEVCO isn?t rangers, you can see why he?d want to do it to end all the questions? sevco is not sustainable, one can understand why he wouldn?t want to throw good money after bad, although rangers(IL) wasn't anymore sustainable which is why they are where they are? the current fraud cases might question the ownership of the assets in favour of rangers (IL)? these cases might allow ?the club? to extricate itself from the various onerous contracts and unfavourable retail deals ? they were entered into by SEVCO, who may have taken/purchased the assets fraudulently from rangers(IL) Disadvantages: - It will take a shed load of cash to do it, to pay off the creditors in rangers(IL) and settle all the debts that sevco has, this is cash that king does not have - King owns neither company, whyte(i believe) is still the majority shareholder in rangers(IL) and king is the largest shareholder in sevco with approx 15% Sounds like someone has slipped something into kings drink and he is just spouting crap. But add this to sally's settlement(3 months before his contract ended anyway) and this sounds like deflection to me, maybe some very bad news is about to come out, possible of a financial nature???? Link to comment Share on other sites More sharing options...
hueyview Posted September 11, 2015 Share Posted September 11, 2015 It sounds a bit like Bobby Ewing in Dallas, who came out of the shower, making what happened during the previous series just dreams. Substitute King for JR, McCoist for Bobby and Bomber Brown for Sue Ellen, howling at the moon........... Link to comment Share on other sites More sharing options...
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