The Rangers soap opera goes on and on.

[Bazzas right boot]

A repeat of this seasons euro performance and they are done.

 

Hopefully won't make a semi or a final either this season.

 

Another two years of that and battles for 2nd-4th in the league and they are Donald ducked.

 

King will disappear, not to be seen again. 

[John Findlay]

6 minutes ago, Hagar the Horrible said:

Its still all smoke and mirrors, it was just background chatter about the Morelos deal, no actual offer was submitted to be rejected, this is just they go about their business, and the media either are that stupid to swallow it up, or worse too cowardly to question it???   Its like the Naismith deal, it was all white noise, Kilmarnock tried but the pitch was a factor and we came in with a real offer,  Naismith admitted he could have held out to see wjat Sevco would offer, but nothing?   If Sevco wanted him, they could have just at least asked for talks and it would have delayed our deal?  Just smoke and mirrors.

 

 

The SMSM are in cahoots with them.

[Hagar the Horrible]

Borrow Borrow, we will take on soft loans, everyone, anyone

We will borrow on, Charles Green,  lying-man **** the TOP and the taxman

If we go into admin we will borrow on.

There’s not a NOMAD the sevco rangers

No Not One And There Never Shall Be One

Celtic tried to take all of our titles

We stood and watched while we let our club die

For there's no banking facilities for The Glasgow Rangers
No Not One And There Never Shall Be One

[XB52]

1 hour ago, ...a bit disco said:

Nothing to see here.

 

A poster will be along shortly to say we're all gullible morons and Rangers are on the up & up.

Yip, can't wait to hear his latest  'nothing to see here' post

 

[...a bit disco]

5 minutes ago, XB52 said:

Yip, can't wait to hear his latest  'nothing to see here' post

 

[Footballfirst]

When the connection with Close Brothers first surfaced during the administration period, a bit of research uncovered an Australian businessman, Ray Greenshields, who was a director of Close Brothers Group Plc.  Coincidentally, Mr Greenshields was also a director of Octopus VCT 3.

 

For those not familiar with the name, Octopus, it was the parent company of Ticketus.

 

It's a small pond of shark infested waters that some of these people operate in.

 

Mr Greenshields resigned from both boards in 2014, so I'd doubt that he has any current influence. He's also 70 years old so has probably retired by now.

[Unknown user]

14 minutes ago, XB52 said:

Yip, can't wait to hear his latest  'nothing to see here' post

 

I can live without tbh

[John Findlay]

8 minutes ago, Footballfirst said:

When the connection with Close Brothers first surfaced during the administration period, a bit of research uncovered an Australian businessman, Ray Greenshields, who was a director of Close Brothers Group Plc.  Coincidentally, Mr Greenshields was also a director of Octopus VCT 3.

 

For those not familiar with the name, Octopus, it was the parent company of Ticketus.

 

It's a small pond of shark infested waters that some of these people operate in.

 

Mr Greenshields resigned from both boards in 2014, so I'd doubt that he has any current influence. He's also 70 years old so has probably retired by now.

Be to busy getting lots of stuff with the stamps he issued himself.

[Carl Fredrickson]

7 minutes ago, John Findlay said:

Be to busy getting lots of stuff with the stamps he issued himself.

 

Showing your age with that one John (i am old enough to "get it")

[John Findlay]

1 minute ago, Carl Fredrickson said:

 

Showing your age with that one John (i am old enough to "get it")

True to true.

[My half sister]

1 hour ago, Hagar the Horrible said:

Borrow Borrow, we will take on soft loans, everyone, anyone

 

We will borrow on, Charles Green,  lying-man **** the TOP and the taxman

 

If we go into admin we will borrow on.

 

There’s not a NOMAD the sevco rangers

 

No Not One And There Never Shall Be One

 

Celtic tried to take all of our titles

 

We stood and watched while we let our club die

 

For there's no banking facilities for The Glasgow Rangers
No Not One And There Never Shall Be One

 

Can we sing that in the New singing section or will we need to change the tune

[DH1986]

Rangers are clearly living almost week to week at the moment. 

 

They have borrowed several million already this season to keep the ship afloat and unless they get substantial investment, a large transfer fee incoming or miraculously qualify for the Europa League group stages they’re going to be in a similar situation towards the end of this year as the season ticket money will pay for Murphy and Docherty and cover salaries for a few months.

[sadj]

3 hours ago, Hagar the Horrible said:

Its still all smoke and mirrors, it was just background chatter about the Morelos deal, no actual offer was submitted to be rejected, this is just they go about their business, and the media either are that stupid to swallow it up, or worse too cowardly to question it???   Its like the Naismith deal, it was all white noise, Kilmarnock tried but the pitch was a factor and we came in with a real offer,  Naismith admitted he could have held out to see wjat Sevco would offer, but nothing?   If Sevco wanted him, they could have just at least asked for talks and it would have delayed our deal?  Just smoke and mirrors.

 

 

Would this not suggest the following?

1. There was no offer and they were trying to get interest in him

2. They are living in borrowed time

3. Finances are at a dangerous level for them

4. Soft loans have dried up

 

 

[Glamorgan Jambo]

On 27/12/2017 at 06:29, Seymour M Hersh said:

So the last transaction had them sold at 27p per share but the court told King to offer at 20p. Who's going to sell to him at a 7p loss?

 

Anyone who either got their shares for a penny or who realises the share value is about to be diluted to oblivion will sell. 

 

Colour me unsurprised that Sevco having failed to raise cash in the transfer market have resorted to an asset finance company. Not sure if the loan conditions will get published but if they do expect the security on the car park and building to be only a small part of the total picture. 

[Lovecraft]

47 minutes ago, sadj said:

Would this not suggest the following?

1. There was no offer and they were trying to get interest in him

2. They are living in borrowed time

3. Finances are at a dangerous level for them

4. Soft loans have dried up

 

 

I think that pretty much sums it up perfectly.

 

King is now in the bizarre position of having to pretend (possibly) he has no money for the takeover case, yet at the same time underwriting £7 million.

 

Bet that 500k for Windass looks good now.

 

Don't they have another deferred payment for a loan player at the end of the season too?  Not Murphy, another one.

 

 

Edited February 8, 2018 by Lovecraft

[sadj]

Just now, Lovecraft said:

I think that pretty much sums it up perfectly.

 

King is now in the bizarre position of having to pretend (possibly) he has no money for the takeover case, yet at the same time underwriting £7 million.

 

Bet that 500k for Windass looks good now.

 

Don't they have another deferred payment for a loan player at the end of the season too?  Not Murphy, another one.

 

 

Not sure i think Murphy was on loan with money from Season tickets to be used to buy him and the Docherty deal was alleged to be 0 upfront with money in August when the yearly payment is made for placings. Not sure about anyone else. Guessing Pedro hasnt been paid in full yet and monies coming in they would have to clear debt to a previous club before moving a player on. Say Pena went and they owed 1.5 mill still to his previous club that would need cleared before the deal can be completed. Id liken it to hp on a car. Could be wrong though its not something im clued up on. @Footballfirst?

[Lovecraft]

Did they finally pay off Warberton?

 

 

Edited February 8, 2018 by Lovecraft

[sadj]

12 minutes ago, Lovecraft said:

Did they finally pay off Warberton?

 

 

Forgot about the breadman... good question. Seems to be one of the few sensible bits of business putting Murty in until summer to save them forming out more money they dont have. Feel sorry for Murty tho seems much more of a puppet than anything else

[tntjambo]

Interesting to see Phil Mac ( funny names ) version of events  https://philmacgiollabhain.ie/2018/02/08/long-term-problems-and-short-memories/

[Hagar the Horrible]

THE Club has received many calls in recent days from fans, shareholders and other interested parties with regard to the contents of an Irish-based internet blog which has published numerous allegations about the business affairs of Rangers Football Club.

The Club wishes to make clear that these allegations are totally inaccurate and that the Chief Executive and Board of Directors are fully focussed on the restructuring and rebuilding of Rangers Football Club as previously announced.

The Club has decided to make this statement as unchallenged, ill-informed and inaccurate comments are damaging to the reputation of Rangers Football Club.

Graham Wallace
Chief Executive Officer

 

 

Phil must be getting oan their tattie so to speak?  he is good at stating the obvious as an exclusive, only sourced from his wankingchariot, Still Sevco usualy ignore?  why not this time????

[buzzbomb1958]

All aboard the Titanic ,only difference the Titanic only went down once the lying king is playing the orcs like fiddle(no pun intended) I felt sorry for the fans of the original entity ,I can't feel sorry for idiots who follow the pied Piper fool me once well you know how the saying goes

[N Lincs Jambo]

24 minutes ago, Hagar the Horrible said:

THE Club has received many calls in recent days from fans, shareholders and other interested parties with regard to the contents of an Irish-based internet blog which has published numerous allegations about the business affairs of Rangers Football Club.

The Club wishes to make clear that these allegations are totally inaccurate and that the Chief Executive and Board of Directors are fully focussed on the restructuring and rebuilding of Rangers Football Club as previously announced.

The Club has decided to make this statement as unchallenged, ill-informed and inaccurate comments are damaging to the reputation of Rangers Football Club.

Graham Wallace
Chief Executive Officer

 

 

Phil must be getting oan their tattie so to speak?  he is good at stating the obvious as an exclusive, only sourced from his wankingchariot, Still Sevco usualy ignore?  why not this time????

 

That quote is 4 years old Hagar, however it does seem to be pretty relevant to the here and now.

[Footballfirst]

2 hours ago, sadj said:

Not sure i think Murphy was on loan with money from Season tickets to be used to buy him and the Docherty deal was alleged to be 0 upfront with money in August when the yearly payment is made for placings. Not sure about anyone else. Guessing Pedro hasnt been paid in full yet and monies coming in they would have to clear debt to a previous club before moving a player on. Say Pena went and they owed 1.5 mill still to his previous club that would need cleared before the deal can be completed. Id liken it to hp on a car. Could be wrong though its not something im clued up on. @Footballfirst?

 

* Murphy is on loan atm, but with an agreed fee for a summer window transfer.

* Cummings ......... ditto

* Pena is on loan to Cruz Azul, with them picking up a proportion of his wages (reported to be £10k out of £25k a week)

* Any outstanding instalments on the incoming Pena transfer will either be offset against any future fee received (with the buyer picking them up), or Rangers will still have to pay them as they fall due.

* I have no idea about any outstanding payments to Pedro or the bread man.

[sadj]

11 minutes ago, Footballfirst said:

 

* Murphy is on loan atm, but with an agreed fee for a summer window transfer.

* Cummings ......... ditto

* Pena is on loan to Cruz Azul, with them picking up a proportion of his wages (reported to be £10k out of £25k a week)

* Any outstanding instalments on the incoming Pena transfer will either be offset against any future fee received (with the buyer picking them up), or Rangers will still have to pay them as they fall due.

* I have no idea about any outstanding payments to Pedro or the bread man.

Thank you as always FF

 

Does that mean the monies from season tickets will be used for Cummings and Murphy? (How much are the annual amount of tickets sales?) 

Reading what you say seems to imply that Pena could be sold but his previous club may not receive due monies until payments fall due even if Rangers receive monies for the player and he is no longer there. 

 

Whats your take on the Close Brothers agreement?

[Mikey1874]

21 hours ago, Footballfirst said:

 

The China syndrome meltdown has apparently cooled somewhat.

 

Alfredo Morelos is now off a list of transfer targets for Beijing Rehne, according to a report.

The Express claims their interest has cooled in the Rangers striker.

Chinese Super League side Beijing had an offer of around £8million rejected by the Ibrox club last month.

Now it is being reported they have moved on to other targets and are unlikely to come back in for Morelos.

 

Starting to think this so called bid from CHINA was not really made. Or maybe the payment plan was over 60 years like Rangers do. 

[Don Dan]

Maybe just maybe the Morelos bid was floated to help secure the Wonga loan!? 

Edited February 8, 2018 by Dannie Boy

[Footballfirst]

26 minutes ago, sadj said:

Thank you as always FF

 

Does that mean the monies from season tickets will be used for Cummings and Murphy? (How much are the annual amount of tickets sales?) 

Reading what you say seems to imply that Pena could be sold but his previous club may not receive due monies until payments fall due even if Rangers receive monies for the player and he is no longer there. 

 

Whats your take on the Close Brothers agreement?

 

Effectively it's a try before you buy arrangement with Murphy and Cummings. If either proves not to be up to much, or perhaps get a serious injury, I'd expect Rangers to pull out of the deal, which is probably only an "option to buy" at an agreed price.

 

That would be my understanding of the Pena fees.

 

The Close Brothers agreement raises a few questions.  Is it just an overdraft facility that they can dip in and out of to sort out any cash flow issues, or is it a current requirement to balance the books? If it's the former, then it's not a problem. If it's the latter, then it could suggest a bleak outlook or or a risky spending strategy (speculate to accumulate). 

 

Some news outlets are reporting it as being in addition to the promised £4m funding requirement for this season.  If their spending is higher than that and they need to draw down on this new facility now, then it is bad news for them, i.e. their forecasting and budgets must be a bit suspect to say the least.

 

We may never know the extent of costs of its use, particularly if any sum drawn down is paid from ST revenue before the end of the financial year, as the balance could be £0 at the end of June, and would be reported as such.  Some forensic accounting might show that their deferred income (from STs) is lower than in previous years, because some of it has already been used, but we won't know about that before October, at the earliest, when the accounts are published.

Edited February 8, 2018 by Footballfirst

[tntjambo]

The way i see it is they are in desperate need money to keep the lights on till the season ticket money arrives no one is prepared to offer another soft loan and King has no money we all know that so all that is left is a Hard Loan with very high interest its secured against the car park and Edmonstone House and it must be paid back when the season ticket money arrives it could have a million pound interest costs so the 3 million costs 4 to pay back all this is going to do is kick the can further down the track and come the end of the year when season ticket money runs out is the need for more borrowing this cant go on forever eventually its going to pop.

[John Findlay]

My understanding is that Sevco season tickets are automatically renewed in that existing ST have money taken from them whether they like it or not? From those existing ST holders I wonder how many are up front and how many are HP and who runs the HP finance?

[Geoff Kilpatrick]

This thread is six years old next week!

[graygo]

2 minutes ago, Geoff Kilpatrick said:

This thread is six years old next week!

 

Older than the club then?

[Geoff Kilpatrick]

3 minutes ago, graygo said:

 

Older than the club then?

Given that the thread started when ye olde co was just about to go into admin, you answered your own question.

[Jambo-Jimbo]

10 minutes ago, Geoff Kilpatrick said:

This thread is six years old next week!

 

And by the looks of things could very well be about to turn full circle on itself.

[graygo]

4 minutes ago, Geoff Kilpatrick said:

Given that the thread started when ye olde co was just about to go into admin, you answered your own question.

 

A simple "yes" would have saved you a whole lot of typing.

[sadj]

2 minutes ago, graygo said:

 

A simple "yes" would have saved you a whole lot of typing.

Imagine the thread outlasted sevcos entire existence

[Geoff Kilpatrick]

2 minutes ago, graygo said:

 

A simple "yes" would have saved you a whole lot of typing.

Since you knew the answer why did you post the question? Unless it was another shining example of your witty banter.

[Hashimoto]

1 hour ago, Mikey1874 said:

 

Starting to think this so called bid from CHINA was not really made. Or maybe the payment plan was over 60 years like Rangers do. 

I doubt a bid from China would be forthcoming....As I understand the Chinese have imposed a 100% super tax on imported footballers, therefore if we are to believe the bid to be genuine the real cost to Beijing Renhe would be a staggering £16m. 

[graygo]

2 minutes ago, Geoff Kilpatrick said:

Since you knew the answer why did you post the question? Unless it was another shining example of your witty banter.

 

FFS Geoff, it was a rhetorical question.

 

Pretty sure most if not all on here are aware the thread is almost 6 years old as it tells you so on the front page of the Terrace, did you need to post it to let us know?  (that is also rhetorical)

[Don Dan]

9 minutes ago, graygo said:

 

A simple "yes" would have saved you a whole lot of typing.

 

 

Geoff likes the sound of his own typing ?

[Jambo-Jimbo]

35 minutes ago, tntjambo said:

The way i see it is they are in desperate need money to keep the lights on till the season ticket money arrives no one is prepared to offer another soft loan and King has no money we all know that so all that is left is a Hard Loan with very high interest its secured against the car park and Edmonstone House and it must be paid back when the season ticket money arrives it could have a million pound interest costs so the 3 million costs 4 to pay back all this is going to do is kick the can further down the track and come the end of the year when season ticket money runs out is the need for more borrowing this cant go on forever eventually its going to pop.

 

The World and their dog can see they are trading insolvent and can only keep the lights on through obtaining loans.

It is now clear that either the directors don't have or more likely are unwilling to throw away any more of their own money into the bottomless pit that's 'The Rangers', hence the need for a Wonga style interest rate secured loan, either way if I were a Rangers fan I'd be extremely worried that my own directors can't or won't bail out the club any longer.

 

 

[Geoff Kilpatrick]

16 minutes ago, graygo said:

 

FFS Geoff, it was a rhetorical question.

 

Pretty sure most if not all on here are aware the thread is almost 6 years old as it tells you so on the front page of the Terrace, did you need to post it to let us know?  (that is also rhetorical)

Calm your jets! The point I was subtly making is that it has become Kickback's version of Waiting For Godot, with people desperately hoping the new club follows the path of the old.

[Jamboelite]

4 minutes ago, Geoff Kilpatrick said:

Calm your jets! The point I was subtly making is that it has become Kickback's version of Waiting For Godot, with people desperately hoping the new club follows the path of the old.

Thanks for your insight Geoff.

 

Perhaps people are just querying why a football club of their size is requiring money facilities from a 3rd party.

[graygo]

2 minutes ago, Geoff Kilpatrick said:

Calm your jets! The point I was subtly making is that it has become Kickback's version of Waiting For Godot, with people desperately hoping the new club follows the path of the old.

 

That was what you were saying?

 

Yep, that was subtle, here's what you said  "This thread is six years old next week!  "

 

Sorry I missed your hidden meaning.

 

Christ, I'm not even in a bad mood tonight. Don't know why I'm even indulging you.

 

Have a good day/night or whatever it is over there just now   

[Shanks]

This sounds like very bad news for rangers.  Why would king not just give them a loan on more favourable terms?  Why go to a loan shark? 

 

Would be interesting to see how much money in total king has 'invested' in rangers. 

 

Anyway, funny how we have wealthy benefactors willing to pump 7 figure sums into the club and rangers are having to go to pay day loan companies

 

 

[Geoff Kilpatrick]

1 minute ago, Jamboelite said:

Thanks for your insight Geoff.

 

Perhaps people are just querying why a football club of their size is requiring money facilities from a 3rd party.

Most football clubs do at some point. Most businesses in general do, in fact. Dave King makes things a little more interesting because he's a convicted fraudster and shouldn't be running a football club, but that's Scottish football for you.

[Deevers]

Just wonder if this money and the season ticket money will be used  to payback the "soft loans" then the plug will be pulled. 

[Wilson]

The Rangers fans on Twitter etc are actually celebrating this.

 

Club 1872 continue to seek funds which they advertise will be to buy more shares at some forthcoming share issue. I hope they point out this issue will be to repay soft loans, and that their influence such as it is, will be diluted.

 

if they don't highlight this,  must be close to fraud by Club 1872 IMHO. 

[Mikey1874]

Maybe seeing how well Hibs have done raising funds from fans

[The Future's Maroon]

Ahh, page 2012....has a certain irony to it, doesn't it.

 

Popcorn oot again chaps.

[sadj]

7 minutes ago, The Future's Maroon said:

Ahh, page 2012....has a certain irony to it, doesn't it.

 

Popcorn oot again chaps.

Especially to hit page 2012 in February