adayinmay Posted November 27, 2015 Share Posted November 27, 2015 Why don't you just **** *** back to the Bears Den or Follow Follow where you and your fellow Neanderthals can pontificate about hard done to the deceased club known as Rangers have been. Once you face up , apologise for cheating all of Scottish football, including Celtic, during the EBT and the side letter years, you can come back on here and talk about principles. You support a newly created club that was unfairly allowed into Division 3 at the expense of properly funded and run clubs because you and your knuckle dragging sidekicks failed to save your club from dying. Since then, you have welcomed White, Green, Ashley and then King as conquering heroes who would get this new club back to some place that you believe you are entightled to, but as at present, have failed to earn. Each one in turn has then lost the backing of your support because they have failed to deliver the fabled 'war chest' that each new owner of Rangers must have and promise. You don't want to be a normal club; you instead yearn for the days of Gascoigne, Laudrup etc as if you have a divine right to win titles and enter Europe, just because you are Protestants from Govan. I detest your club and what it stands for, I detest your support for not facing up to what they are and what they believe, I detest your sycophantic relationship with the Scottish media, I detest every little thing about your poxy club and if there was any justice, there would be no club called Rangers, Sevco or anything in blue playing football in Scotland ever again. Bravo! Link to comment Share on other sites More sharing options...
Jamdub Posted November 27, 2015 Share Posted November 27, 2015 I have always found Rangers to be a vile and horrible institution. I have always held the majority of their fans with equally low regard. I have no concerns over my morals or principles. If they were to die again, I would not shed a tear. Sadly, there is no chance of their twin joining them. That would be heaven. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 27, 2015 Share Posted November 27, 2015 (edited) From the Rangers AGM currently underway Alasdair Lamont ?@BBCAlLamont 21s21 seconds ago DK - Last night, board made decision to reverse position on SD loan. We will endeavour to repay loan as long as we can raise money. Grant Russell ?@STVGrant 44s44 seconds ago King: Board has reversed previous decision over SD loan. We have decided now to repay the loan. We now have funds to do so. Grant Russell ?@STVGrant 44s44 seconds ago Hugely significant line from King. Rangers will repay Sports Direct's ?5m loan. King says group of investors will provide the funds. Alasdair Lamont ?@BBCAlLamont 1m1 minute ago DK - Took me one hour this morning to raise the ?5m from major shareholders. Will advise SD we will be repaying that loan. Grant Russell ?@STVGrant 1m1 minute ago Members of the "three bears" mentioned as being among those who will provide funds to repay Sports Direct. And King. Edited November 27, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
jambovambo Posted November 27, 2015 Share Posted November 27, 2015 ... hence getting Douglas Park back on board ... Link to comment Share on other sites More sharing options...
Unknown user Posted November 27, 2015 Share Posted November 27, 2015 If it took one hour this morning, what took until this morning to do it? Link to comment Share on other sites More sharing options...
Footballfirst Posted November 27, 2015 Share Posted November 27, 2015 Semms like they have planted some questions: First up, Craig Houston of Sons of Struth asking about SD dividends ...... Board unable to answer for fear of breaching injunction! Next, Ricki Neill of Rangers First asking how fans can best put money into the club ....... Use the facilities Link to comment Share on other sites More sharing options...
Spitonastranger Posted November 27, 2015 Share Posted November 27, 2015 Why don't you just **** *** back to the Bears Den or Follow Follow where you and your fellow Neanderthals can pontificate about hard done to the deceased club known as Rangers have been. Once you face up , apologise for cheating all of Scottish football, including Celtic, during the EBT and the side letter years, you can come back on here and talk about principles. You support a newly created club that was unfairly allowed into Division 3 at the expense of properly funded and run clubs because you and your knuckle dragging sidekicks failed to save your club from dying. Since then, you have welcomed White, Green, Ashley and then King as conquering heroes who would get this new club back to some place that you believe you are entightled to, but as at present, have failed to earn. Each one in turn has then lost the backing of your support because they have failed to deliver the fabled 'war chest' that each new owner of Rangers must have and promise. You don't want to be a normal club; you instead yearn for the days of Gascoigne, Laudrup etc as if you have a divine right to win titles and enter Europe, just because you are Protestants from Govan. I detest your club and what it stands for, I detest your support for not facing up to what they are and what they believe, I detest your sycophantic relationship with the Scottish media, I detest every little thing about your poxy club and if there was any justice, there would be no club called Rangers, Sevco or anything in blue playing football in Scotland ever again. Well said, best post by far, I would also relate this to the other cheek Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 27, 2015 Share Posted November 27, 2015 If it took one hour this morning, what took until this morning to do it? A sudden realisation they would have lost the confidence at the AGM if SD still had them by the short and curlies on this alone, Now he can rant "No Surrender" and get a standing ovation. They should have done that ages ago, but now is the event horizon! Link to comment Share on other sites More sharing options...
tynietigers Posted November 27, 2015 Share Posted November 27, 2015 Does King think by doing this MA will stop all court proceedings against him ? Or has he something to hide and big bad Mike knows it. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 27, 2015 Share Posted November 27, 2015 (edited) Reading between the lines of DK?s response to a question on trademarks reverting to Rangers, I?m pretty certain that the loan will not be repaid in a single lump sum. Grant Russell ?@STVGrant 8m8 minutes ago King confirms Sports Direct securities will revert to Rangers if SD are paid back in full. That suggests to me that they will attempt to pay it back over an extended period. If I recall the terms of the loan correctly from the AIM statement, the additional shareholding will be transferred back in proportion to the loan repayments; e.g. for each ?1M they will get 5% back, and the dividend share will also change in line with this. Edited November 27, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 27, 2015 Share Posted November 27, 2015 Does King think by doing this MA will stop all court proceedings against him ? Or has he something to hide and big bad Mike knows it. Both, also it will be interesting to see if this is an investment or just one soft load to repay another loan, also what will be the caveats? It will be interestiong of how much of that money Glib has put in? Link to comment Share on other sites More sharing options...
Footballfirst Posted November 27, 2015 Share Posted November 27, 2015 (edited) Grant Russell ?@STVGrant 9s9 seconds ago King: Those providing soft loans are doing so as equity substitute. Not really a loan. They won't be repaid. They will be converted. Grant Russell ?@STVGrant 1m1 minute ago King: Once SD loan paid off, Rangers will have no debt. Grant Russell ?@STVGrant 1m1 minute ago King: Once SD loan paid off, we will be one of strongest clubs in world with regards to financial position. Edited November 27, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
davieholt Posted November 27, 2015 Share Posted November 27, 2015 Grant Russell ?@STVGrant 9s9 seconds ago King: Those providing soft loans are doing so as equity substitute. Not really a loan. They won't be repaid. They will be converted. Have they already voted to allow the creation of new shares thereby diluting existing shareholders position? Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted November 27, 2015 Share Posted November 27, 2015 Grant Russell ?@STVGrant 9s9 seconds ago King: Those providing soft loans are doing so as equity substitute. Not really a loan. They won't be repaid. They will be converted. Grant Russell ?@STVGrant 1m1 minute ago King: Once SD loan paid off, Rangers will have no debt. Grant Russell ?@STVGrant 1m1 minute ago King: Once SD loan paid off, we will be one of strongest clubs in world with regards to financial position. What do they say about a fool and their money? The last quote is just incredible, They are a basket case, that need these soft loans every year to survive, No Banking facilities. A more accurate description is one of the biggest dog with fleas! Link to comment Share on other sites More sharing options...
132goals1958 Posted November 27, 2015 Share Posted November 27, 2015 Have they already voted to allow the creation of new shares thereby diluting existing shareholders position? My immediate reaction as well. Still looks like throwing good money after bad. Link to comment Share on other sites More sharing options...
davieholt Posted November 27, 2015 Share Posted November 27, 2015 What do they say about a fool and their money? The last quote is just incredible, They are a basket case, that need these soft loans equity substitutes every year to survive, No Banking facilities. A more accurate description is one of the biggest dog with fleas! FTFY Link to comment Share on other sites More sharing options...
Drumelzier Posted November 27, 2015 Share Posted November 27, 2015 (edited) Grant Russell ?@STVGrant 9s9 seconds ago King: Those providing soft loans are doing so as equity substitute. Not really a loan. They won't be repaid. They will be converted. Grant Russell ?@STVGrant 1m1 minute ago King: Once SD loan paid off, Rangers will have no debt. Grant Russell ?@STVGrant 1m1 minute ago King: Once SD loan paid off, we will be one of strongest clubs in world with regards to financial position. So he's folded, will MASH drop their contempt of court case ? Will this keep him out of the clink in SA? Edited November 27, 2015 by Drumelzier Link to comment Share on other sites More sharing options...
Footballfirst Posted November 27, 2015 Share Posted November 27, 2015 (edited) Have they already voted to allow the creation of new shares thereby diluting existing shareholders position? We will have to wait till later in the day to find out the results of the votes, and probably some days or weeks to find out what they plan to do in converting the loans.. Edited November 27, 2015 by Footballfirst Link to comment Share on other sites More sharing options...
Phil D. Corners Posted November 27, 2015 Share Posted November 27, 2015 Have they already voted to allow the creation of new shares thereby diluting existing shareholders position? Rangers shareholder Mike Ashley will take the club to court should votes be passed today at their annual meeting to convert board members' loans into shares and issue new shares, thus diluting the Sports Direct and Newcastle United owner's holding at Ibrox. (The National) Link to comment Share on other sites More sharing options...
Maroon tinted glasses 2 Posted November 27, 2015 Share Posted November 27, 2015 We will have to wait till later in the day to find out the results of the votes, and probably some days or weeks to find out what they plan to do in converting the loans.. I should imagine if the only way is to convert the soft loans into shares then the board will bascially be telling the voters today that if they want rid of the MA loan then they must vote to create new shares. Im really surprised that no one has actually just asked King why he isnt putting his hand in his pocket as promised rather than going down the soft loan process as if I was a shareholder getting forced to vote for something that would make my own shares even more worthless then I would want to know why. Link to comment Share on other sites More sharing options...
Footballfirst Posted November 27, 2015 Share Posted November 27, 2015 King: Those providing soft loans are doing so as equity substitute. Not really a loan. They won't be repaid. They will be converted. Loans that don't have to be paid back? Hmmmm ........ that sounds familiar. Ah yes! The Court of Session took a view on those three or four weeks ago. Link to comment Share on other sites More sharing options...
Don Dan Posted November 27, 2015 Share Posted November 27, 2015 It's awfully nice if them to pay back the SD loan. I mean what changed their minds? It's not surprising what a court appearance can do to focus the thinking about what's right and what's wrong, Dastardly Dave is no stranger to courts as we all know. Link to comment Share on other sites More sharing options...
Charlie-Brown Posted November 27, 2015 Share Posted November 27, 2015 Rangers shareholder Mike Ashley will take the club to court should votes be passed today at their annual meeting to convert board members' loans into shares and issue new shares, thus diluting the Sports Direct and Newcastle United owner's holding at Ibrox. (The National) So Ashley is taking them to the courts on a variety of grounds and now if they issue New shares to convert loans that repay him he's taking them to court for that for diluting his shareholding so whatever happens he's gonna take them to court.....splendid. Link to comment Share on other sites More sharing options...
Strachsuit Posted November 27, 2015 Share Posted November 27, 2015 If any Rangers fan believes the line about being one of the most financially stable clubs in the world once the SD loan is paid off, then more fool them! The decision to 'pay off' the SD loan is intriguing. Where are they getting the money from? Is King actually able to get money out of SA or is it the 3B that are stumping up again? Is it a rouse from the GASL and actually they won't be paying it off any time soon? It will be very interesting indeed to see where Big Mike goes from here if he does get the ?5m back and therefore loses securities. One thing is absolutely certain, he isn't anywhere near finished with business when it comes to RIFC. All these court cases are slowly going to wind us down towards the pot at the end of the road, but will the pot contain gold or sh*te? Link to comment Share on other sites More sharing options...
Mcalford Posted November 27, 2015 Share Posted November 27, 2015 If any Rangers fan believes the line about being one of the most financially stable clubs in the world once the SD loan is paid off, then more fool them! The decision to 'pay off' the SD loan is intriguing. Where are they getting the money from? Is King actually able to get money out of SA or is it the 3B that are stumping up again? Is it a rouse from the GASL and actually they won't be paying it off any time soon? It will be very interesting indeed to see where Big Mike goes from here if he does get the ?5m back and therefore loses securities. One thing is absolutely certain, he isn't anywhere near finished with business when it comes to RIFC. All these court cases are slowly going to wind us down towards the pot at the end of the road, but will the pot contain gold or sh*te? http://sport.stv.tv/football/clubs/rangers/1333919-follow-live-updates-from-the-rangers-annual-general-meeting/?utm_source=twitterfeed&utm_medium=twitter all are answered here, not sure how they can claim they will have no debt when the 3 bears will be stumping up the cash, surely they will want the money back? Link to comment Share on other sites More sharing options...
I P Knightley Posted November 27, 2015 Share Posted November 27, 2015 It's awfully nice if them to pay back the SD loan. I mean what changed their minds? It's not surprising what a court appearance can do to focus the thinking about what's right and what's wrong, Dastardly Dave is no stranger to courts as we all know. Here's a thought, and it might be far-fetched, but is there any chance at all that King is just telling a lie? Daft idea, I know. I'm sure that if he had a track record of telling lies, the bluenoses and media would have picked up on it and learned not to trust a word he says. Forget I suggested it. Link to comment Share on other sites More sharing options...
Strachsuit Posted November 27, 2015 Share Posted November 27, 2015 http://sport.stv.tv/football/clubs/rangers/1333919-follow-live-updates-from-the-rangers-annual-general-meeting/?utm_source=twitterfeed&utm_medium=twitter all are answered here, not sure how they can claim they will have no debt when the 3 bears will be stumping up the cash, surely they will want the money back? The thing is, my questions aren't answered there! I am asking how and where the directors are raising the ?5m to pay off the SD loan. Is King actually stumping up any of it? If so, how is he getting his cash out of SA? Why would Donald Park, who recently walked away, return and plough yet more money in when it seemed he was finished? With regards to your second point, they will be turning that cash into equity (with the approval of the shareholders). Link to comment Share on other sites More sharing options...
marshallschunkychicken Posted November 27, 2015 Share Posted November 27, 2015 I cannot believe that this was one of the questions at an AGM. Focusing on the real issues right enough... "Q: Rangers weren't in FIFA 16. Why?" Link to comment Share on other sites More sharing options...
Diadora Van Basten Posted November 27, 2015 Share Posted November 27, 2015 So when they were at deaths door the administrators could only raise ?5.5 million for the sale of all the assets of Rangers. However King can now raise ?5 million in an hour. Sounds unlikely to me. Link to comment Share on other sites More sharing options...
Seymour M Hersh Posted November 27, 2015 Share Posted November 27, 2015 I cannot believe that this was one of the questions at an AGM. Focusing on the real issues right enough... "Q: Rangers weren't in FIFA 16. Why?" I wonder what the response from GASL was. Link to comment Share on other sites More sharing options...
Armageddon Posted November 27, 2015 Share Posted November 27, 2015 Why is multi-billionaire Dave King needing to raise ?5M? Haha Link to comment Share on other sites More sharing options...
Feeno Posted November 27, 2015 Share Posted November 27, 2015 (edited) Its the kind of shameless way he's taken credit for it as well, when ye ken he's no put his own hand in his pocket. "Its tain me an oor to fleece these three dafties again, they're paying up the dough to save me going to the jile and embarrassing this fine institution further" Edited November 27, 2015 by Feeno Link to comment Share on other sites More sharing options...
Mikey1874 Posted November 27, 2015 Share Posted November 27, 2015 As a latecomer I'd like to point out that I despise them, and that I will be maintaining these principles. Anyone can have a dislike based on use / abuse of power The history and practice of sectarian bias and hatred also allows for a decent level of emnity Rangers fans don't get either Link to comment Share on other sites More sharing options...
269miles Posted November 27, 2015 Share Posted November 27, 2015 (edited) http://sport.stv.tv/football/clubs/rangers/1333919-follow-live-updates-from-the-rangers-annual-general-meeting/?utm_source=twitterfeed&utm_medium=twitter all are answered here, not sure how they can claim they will have no debt when the 3 bears will be stumping up the cash, surely they will want the money back? A couple of crackers in there - King: Once SD loan paid off, Rangers will have no debt. That surely cannot be true - the debt to the holding company (?12 million ? what about that ?) . How can he make that statement and it goes unchallenged ? "Once SD loan paid off, we will be one of strongest clubs in world with regards to financial position". LOL, they won't even be one of the "strongest" clubs in Scotland FFS. This is hilarious stuff. King says he believes there is 0% chance of title stripping. Blair says there is no legal case to do so... So King doesn't know - it's just his opinion. As for Blair's comments - that goes unchallenged too ? What "legal case" is he talking about ? Edited November 27, 2015 by 269miles Link to comment Share on other sites More sharing options...
jambovambo Posted November 27, 2015 Share Posted November 27, 2015 The thing is, my questions aren't answered there! I am asking how and where the directors are raising the ?5m to pay off the SD loan. Is King actually stumping up any of it? If so, how is he getting his cash out of SA? Why would Donald Park, who recently walked away, return and plough yet more money in when it seemed he was finished? With regards to your second point, they will be turning that cash into equity (with the approval of the shareholders). Link to comment Share on other sites More sharing options...
Mikey1874 Posted November 27, 2015 Share Posted November 27, 2015 Why is multi-billionaire Dave King needing to raise ?5M? Haha yep, should be small change plus a little more to negociate a painless withdrawl by Ashley says he has fcuk all unless he enjoys fighting Ashley (he won't win) Link to comment Share on other sites More sharing options...
Mikey1874 Posted November 27, 2015 Share Posted November 27, 2015 I have always found Rangers to be a vile and horrible institution. I have always held the majority of their fans with equally low regard. I have no concerns over my morals or principles. If they were to die again, I would not shed a tear. Sadly, there is no chance of their twin joining them. That would be heaven. a decent summary of the Scottish football fans views just Celtic fans that want them Link to comment Share on other sites More sharing options...
Mysterion Posted November 27, 2015 Share Posted November 27, 2015 I'm cutting Strach some slack in this one - I've done the same typo lately. Link to comment Share on other sites More sharing options...
jambovambo Posted November 27, 2015 Share Posted November 27, 2015 I'm cutting Strach some slack in this one - I've done the same typo lately. I know. Fun though. Link to comment Share on other sites More sharing options...
Maroon tinted glasses 2 Posted November 27, 2015 Share Posted November 27, 2015 Ok so King said it only took him an hour this morning to sort out raising the loans to pay MA off. Now ive had a think does anyone else think this may be directly tied in with his visit to the SFA yesterday where as they may have told him to start sorting his house out otherwise they would have to now be seen to actually be doing their own jobs properly and that may have consiquences on rangers. After all, borrowing cash to keep the club out of administration then deciding you dont like the terms so refuse to repay it could force the SFA to play a hand they dont want to and therefor had a wee word in Kings ear. He then panics, relays the info to the guys (who actually do have money to spend) begging them for a soft loan. Funny thing is after all his big ego rants about telling MA to bolt king has now just been patted on his head and sent back to his corner with his tail firmly between his legs. Link to comment Share on other sites More sharing options...
Strachsuit Posted November 27, 2015 Share Posted November 27, 2015 I know. Fun though. What an erse! As Mysterion says, that's the second time in the last few pages. FWIW, I think that Donald Park probably has as much cash available as the Lying King anyway! Link to comment Share on other sites More sharing options...
Jodami Posted November 27, 2015 Share Posted November 27, 2015 These events should really be held in Nuremberg. Link to comment Share on other sites More sharing options...
132goals1958 Posted November 27, 2015 Share Posted November 27, 2015 Ok so King said it only took him an hour this morning to sort out raising the loans to pay MA off. Now ive had a think does anyone else think this may be directly tied in with his visit to the SFA yesterday where as they may have told him to start sorting his house out otherwise they would have to now be seen to actually be doing their own jobs properly and that may have consiquences on rangers. After all, borrowing cash to keep the club out of administration then deciding you dont like the terms so refuse to repay it could force the SFA to play a hand they dont want to and therefor had a wee word in Kings ear. He then panics, relays the info to the guys (who actually do have money to spend) begging them for a soft loan. Funny thing is after all his big ego rants about telling MA to bolt king has now just been patted on his head and sent back to his corner with his tail firmly between his legs. More likely he was there begging for an advance on Sevco end of season prize money from the SFA coffers. Link to comment Share on other sites More sharing options...
buzzbomb1958 Posted November 27, 2015 Share Posted November 27, 2015 The thing is, my questions aren't answered there! I am asking how and where the directors are raising the ?5m to pay off the SD loan. Is King actually stumping up any of it? If so, how is he getting his cash out of SA? Why would Donald Park, who recently walked away, return and plough yet more money in when it seemed he was finished? With regards to your second point, they will be turning that cash into equity (with the approval of the shareholders). . You mean turkeys voting for two Christmas days instead of one whatever way they vote they lose money Link to comment Share on other sites More sharing options...
Shanks Posted November 27, 2015 Share Posted November 27, 2015 Rangers scrambling about trying to pay off a ?5million loan, remember the days when they would spunk ?6.5million on players such as Michael Ball it's all very pleasing. Link to comment Share on other sites More sharing options...
doctor jambo Posted November 27, 2015 Share Posted November 27, 2015 More likely he was there begging for an advance on Sevco end of season prize money from the SFA coffers. Perhaps the SFA should be asking for the ?250k that they are still owed in fines? Looking at the Rangers legal proceedings the sheer cost of those must be mind-blowing even if they win. King is always light on figures Sure ?5million to pay off Ashley.... But more millions are needed to reach May intact.... And more millions in legal fees......... And if they lose, well, Scottish football would need to collapse again, wouldn't it? Link to comment Share on other sites More sharing options...
Footballfirst Posted November 27, 2015 Share Posted November 27, 2015 I've just had a listen to the STV interview with King following the AGM. http://news.stv.tv/west-central/1333962-dave-king-says-repayment-of-5m-sport-direct-loan-right-thing-to-do/ Contrary to my expectation, the full ?5M appears to be available now, with King, Park, Letham, Taylor, Murray and Bennett providing the cash. I don't suppose we will get a breakdown of who is providing what. Link to comment Share on other sites More sharing options...
Pistol1874 Posted November 27, 2015 Share Posted November 27, 2015 I've just had a listen to the STV interview with King following the AGM. http://news.stv.tv/west-central/1333962-dave-king-says-repayment-of-5m-sport-direct-loan-right-thing-to-do/ Contrary to my expectation, the full ?5M appears to be available now, with King, Park, Letham, Taylor, Murray and Bennett providing the cash. I don't suppose we will get a breakdown of who is providing what. Park, Letham, Taylor, Murray and Bennett providing the cheques, King providing the pen. Link to comment Share on other sites More sharing options...
doctor jambo Posted November 27, 2015 Share Posted November 27, 2015 Park, Letham, Taylor, Murray and Bennett providing the cheques, King providing the pen. King has borrowed the pen from Argos Link to comment Share on other sites More sharing options...
Jamboelite Posted November 27, 2015 Share Posted November 27, 2015 (edited) Interesting times I know a certain poster will be all over this today with the "What do posters on here know they all just hate Rangers look look King has loads of cash" Cant wait........ There is something more happening behind the scenes here that is clear im just not sure what it is. Edited November 27, 2015 by Jamboelite Link to comment Share on other sites More sharing options...
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