The Rangers soap opera goes on and on.

[7628mm]

30 minutes ago, The Future's Maroon said:

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

 

Popcorn oot again chaps.

 

22 minutes ago, sadj said:

Especially to hit page 2012 in February 

Coincidence? If this thread was included in any film made it would be deemed too fanciful to be true along with the shenanigans that "they" have played out over the last 4 years

 

On another note

 

The Queens club taken down by the the Queens money generating club 

[1971fozzy]

Loan sharks, convicted fraudster in charge, soft loans and a club 1872 . What could possibly go wrong .

Only surprise is they’re not trying to flog film rights for this comedy.

 

[Footballfirst]

5 minutes ago, 1971fozzy said:

Loan sharks, convicted fraudster in charge, soft loans and a club 1872 . What could possibly go wrong .

Only surprise is they’re not trying to flog film rights for this comedy.

 

Craig Whyte owned both book and film rights to the saga, through Law Financial and Worthington Group.

 

He has already been touting the synopsis of a book around potential publishers.

 

Honestly!

Edited February 8, 2018 by Footballfirst

[Footballfirst]

1 minute ago, farin said:

 

Didn't john James post up excerpts from that in his blog a while back?. 

Yes, he published a few selected passages then put the rest behind his "paywall".

 

There should be copies of the full synopsis (19 chapters) available on the net.

[Victorian]

Gets arsey with someone for no good reason whatsoever.    Within minutes he's telling the same person to calm his jets after receiving a much more polite reply than he deserved.  

 

[Mikey1874]

47 minutes ago, Footballfirst said:

Yes, he published a few selected passages then put the rest behind his "paywall".

 

There should be copies of the full synopsis (19 chapters) available on the net.

 

https://www.google.co.uk/amp/s/johnjamessite.com/2017/11/21/true-blue-treachery-an-exclusive-excerpt-from-craig-whytes-new-book/amp/

[Jambo-Fox]

2012????

 

2012!!!!

 

2012 they walked away and let their club die!!!

[Coburg Hearts]

9 hours ago, N Lincs Jambo said:

 

That quote is 4 years old Hagar,

Thanks for confirming I'm not going senile.

[The Future's Maroon]

8 hours ago, Footballfirst said:

Craig Whyte owned both book and film rights to the saga, through Law Financial and Worthington Group.

 

He has already been touting the synopsis of a book around potential publishers.

 

Honestly!

 

In a way I want to say "seriously, that rumour must be absolute rubbish",  but it wouldn't surprise me either.

 

Put me down for a copy....a signed copy from bomber 'where's ra deeds' brown.

 

Its that farcical, it would make a decent book/movie!

 

Can we get Swally and Duvall to star in it?!

Edited February 9, 2018 by The Future's Maroon

[davie1980]

10 hours ago, Jambo-Jimbo said:

 

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

 

To be fair, this thread and it's occupants have been predicting the imminent demise of Rangers since it's rebirth in 2012

[Deek]

11 hours ago, Geoff Kilpatrick said:

This thread is six years old next week!

 

We are on page 2012 ironically! 

[Footballfirst]

4 hours ago, The Future's Maroon said:

 

In a way I want to say "seriously, that rumour must be absolute rubbish",  but it wouldn't surprise me either.

 

Put me down for a copy....a signed copy from bomber 'where's ra deeds' brown.

 

Its that farcical, it would make a decent book/movie!

 

Can we get Swally and Duvall to star in it?!

 

I have a copy of the full synopsis that JJ shared with his selected band of followers, that I acquired from different sources by a circuitous route.  I don't plan to repeat it it here but here's the synopsis of chapter 17.

 

Quote

Chapter 17: Shafted

With his options running out, Craig spoke to a contact in London called Imran Ahmad. He introduced Craig to Charles Green, a former footballer-turned-businessman who had caused controversy at Sheffield United. Craig asked Green if he was willing to raise funds and front up a bid to take control of the club.

Due to the antipathy towards him from Duff and Phelps, HMRC and the SFA, Craig had to remain in the background. Green agreed. Craig bought a shelf company called Sevco 5088 that made an offer to the administrators of £7.5 million to buy Rangers through a CVA, or £5.5 million for the assets if the club was liquidated.

When no bidder was accepted – and despite a last gasp offer from former manager Walter Smith – the club was liquidated and the assets sold to Sevco in June 2012.

Unbeknownst to Craig, Green set up another shelf company Sevco Scotland Ltd and transferred everything – fraudulently – from Sevco 5088 to the new company.

Craig had been cut out of his own deal.

The new Rangers had to apply to be re-admitted into the football league but the other premier league clubs, under pressure from their outraged fans, voted down their application. Instead the new Rangers had to start life at the bottom of the third division, a decision Craig describes as ‘suicidal’.

As fans vented their fury, Craig received death threats from Rangers’ supporters, while rival Celtic fans hailed him as some sort of hero. Despite the actions of others, he was the one blamed for Rangers’ demise.

Yet he writes: ‘I was trying to save the club. I appreciate some fans might not see it that way and maybe never will, but that is the truth.’

 

Once again mirroring the plight of the team he loved, Craig found himself in the wilderness.

He had only one option left – get revenge on Charles Green.

 

Edited February 9, 2018 by Footballfirst

[Hagar the Horrible]

4 hours ago, davie1980 said:

 

To be fair, this thread and it's occupants have been predicting the imminent demise of Rangers since it's rebirth in 2012

Thats because they started off with a clean sheet.  money in the bank, but continued the WATP attitude and for every £1 Peterhead would spend, we would spend £1000.  They spent £m's on winning 2 lower league titles, even more to finish mid table in the championship, took 2 goes to win promotion back to the golden goose that is the Premiership.  Spent millions on dud managers like Fatso, the breadman and pedro.  ran up £20m in soft loans, and now borrowed £7m to a loan shark company using the car park and E-House as security (for which King slated previous regimes for?) they are now spending the next years season ticket money to get to the end of this season?  They need to keep spending the combined surplus of Aberdeen, Hearts and Hibs, just to compete with Aberdeen, Hearts and Hibs.  god knows how much they will need to to come a close second to Celtic?  they have a squad of players who are not the envy of any other SPL team?

 

Nope not many on here predicting the iminent demise of Rangers, and certainly the SMSM will be shocked when the big hoose of cards comes crashing down again, unless another off the radar sugar daddy bails them out.  The fake £8m for Merelos tells you everything, why take a £7m loan from a pay-dat loan company when £8m would have done the same job?

[primrose]

18 minutes ago, Footballfirst said:

 

I have a copy of the full synopsis that JJ shared with his selected band of followers, that I acquired from different sources by a circuitous route.  I don't plan to repeat it it here but here's the synopsis of chapter 17.

 

 

 

 

 

The full thing is here.

[Footballfirst]

2 minutes ago, primrose said:

 

 

 

 

The full thing is here.

Cheers. I knew that it had been posted in full somewhere, although I already had obtained a copy from another source.

[jambovambo]

You can bet your bottom dollar the SFA - or certain sections/ factions of them - will be wanting a RRM as Scotland Manager and/or as the new CEO. 

[Jambo-Jimbo]

5 hours ago, davie1980 said:

 

To be fair, this thread and it's occupants have been predicting the imminent demise of Rangers since it's rebirth in 2012

 

And but for numerous last ditch loans over the last 4 years or so, the lights would have indeed went out.

 

As I've said, if I were a Rangers fan I'd be extremely worried that the current directors are either unable or unwilling to bail the club out this time and external funding sources were required.

Edited February 9, 2018 by Jambo-Jimbo

[John Findlay]

Run by crooks pre liquidation and, run by crooks post liquidation. Scottish football really should hang it's head in shame for allowing this to happen.

Edited February 9, 2018 by John Findlay

[Lovecraft]

Maybe a factor in Regan quitting.

 

 

[Boris]

9 minutes ago, Lovecraft said:

Maybe a factor in Regan quitting.

 

 

 

In that he couldn't be ersed with doing it all again, or that it has happened under his watch?

[Libertarian]

If they go into Administration and then liquidation this time under no circumstances should they be allowed back into the league. Ibrox and Murray Park should be sold off to pay creditors (it's a scandal that this didn't happen in 2012) and they should be consigned once and for all to the history books.

[davieholt]

11 minutes ago, Boris said:

 

In that he couldn't be ersed with doing it all again, or that it has happened under his watch?

 

He doesn't like repeating himself and can't think of another word for Armageddon ?

[davieholt]

Just now, Hearts Daft said:

If they go into Administration and then liquidation this time under no circumstances should they be allowed back into the league. Ibrox and Murray Park should be sold off to pay creditors (it's a scandal that this didn't happen in 2012) and they should be consigned once and for all to the history books.

 

An odd one. I doubt they have been able to withhold cash from Hector this time round. Similarly, they have no bank debt since no bank will touch them. The vast bulk of their indebtedness will be to their own directors who would almost certainly vote through a CVA (If they didn't they would have to emigrate).

[Lovecraft]

26 minutes ago, Boris said:

 

In that he couldn't be ersed with doing it all again, or that it has happened under his watch?

 

I'd go for the latter.

 

That would pretty much prove that he is a puppet for the Glasgow clubs.  Regardless of allegiances, Rangers are quite clearly struggling to stay afloat.  Deferred payments for loan players, soft loans now turning to secured loans, share issues, manager payoffs, court cases against King etc..

 

His reputation is in tatters.  Who would hire someone that failed so spectacularly?

 

Actually, someone would.  They always do for guys at the top.

[The Future's Maroon]

2 hours ago, primrose said:

 

 

 

 

The full thing is here.

 

Fantastic, thanks FF and Primrose.

[alwaysthereinspirit]

On ‎2‎/‎13‎/‎2012 at 09:34, Sergio Garcia said:

Just got a text from a mate who works at the High Court in Glasgow that Rangers directors have lodged a petition at the Court of Session for an Administrator. My mate is a Well fan who is not really into mischief making so thought I would pass on the info.

 

I shall try and get more info from him soon.

 

 

 

Admin note 29 October 2013:

 

We have split off more than 600 posts from this thread into a separate thread to allow a debate about the existential state of Rangers - whether they are alive or dead, new or old, treated fairly or unfairly, should be in Scotland or England, and so on.

 

Here's a link: http://www.hmfckickback.co.uk/index.php?/topic/134157-the-sevco-existential-debate-see-admin-note-in-post-1/page__st__650&do=findComment&comment=3877330

 

We have some Rangers supporters with a different view to ours, and these different viewpoints can be debated on that thread - not on this one.

 

This thread has been running for 18 months to provide an opportunity for Hearts supporters to exchange information and opinions about the various Rangers sagas, and it will continue for that purpose. Any effort to derail this thread, especially by non-HMFC supporters, will be frowned upon by JKB moderators.

If we get another post along the same lines as the original I'm pretty certain I'd cream my pants.

 If its been down the page list and suddenly shows up again, I open with anticipation of glorious doom and gloom for Newco.

One day soon.

[jambovambo]

24 minutes ago, alwaysthereinspirit said:

If we get another post along the same lines as the original I'm pretty certain I'd cream my pants.

 If its been down the page list and suddenly shows up again, I open with anticipation of glorious doom and gloom for Newco.

One day soon.

[alwaysthereinspirit]

14 minutes ago, jambovambo said:

 

[Unknown user]

2 hours ago, davieholt said:

 

An odd one. I doubt they have been able to withhold cash from Hector this time round. Similarly, they have no bank debt since no bank will touch them. The vast bulk of their indebtedness will be to their own directors who would almost certainly vote through a CVA (If they didn't they would have to emigrate).

It's not quite as simple as that, they'd also need 50% of the non connected creditors by value to vote it through.

 

Quote

Acceptance of the CVA proposals is based on achieving requisite majorities. The votes are counted by value of claim where the requisite majority for approval is 75% of the votes cast. This is subject to a second vote to check that 50% of the non-connected creditors approve the proposals as in many instances directors, shareholders and their family members represent a significant vote and are treated as connected creditors.

Edited February 9, 2018 by Smithee

[sadj]

3 minutes ago, Smithee said:

It's not quite as simple as that, they'd also need 50% of the non connected creditors by value to vote it through.

 

Thats a very interesting point. Possibly why they are going with the throw everything at it and hope attitude? (Assuming thats what it is) You would assume after being bumped previously with liquidation companies would have even less want to be kind and accept a cva (directors would lose their monies) and a mark 3 would have to pay everything up front. Though someone mentioned money in pay the soft loans then call in administrators that seems plausible

[Hagar the Horrible]

4 minutes ago, Smithee said:

It's not quite as simple as that, they'd also need 50% of the non connected creditors by value to vote it through.

 

The bigger problem is unless they go for a model like ours to help and shore up any financial downfall?  who will offer a CVA, even getting the full bhuna for a £1  the new owners still have to find an annual cash shortfall over around £4m to break even and maintain a low standard of squad, notwithstanding repair work to £1brox??????   I think it would be prudent for 3angers to have a salary cap imposed for a few years otherwise its groundhogg day

[doctor jambo]

Whilst I don't think liquidation or even admin are on the cards there are a couple of things that cause me some concern- and that bother me greatly

 

1- rangers have continued to sign players, despite running massive deficits,

2- they are now on large emergency loans to fund larger squads

3- they are doing this, presumably to chase that second place and wangle a euro run to make them "viable " again- this was DK's business strategy as laid out at the AGM

4-even  if they DO manage this it all could go FBK Kaunas- the Lithuanian landmine that blew them to bits last time

 

Surely there has to be governing body oversight here?

[Unknown user]

1 minute ago, Hagar the Horrible said:

The bigger problem is unless they go for a model like ours to help and shore up any financial downfall?  who will offer a CVA, even getting the full bhuna for a £1  the new owners still have to find an annual cash shortfall over around £4m to break even and maintain a low standard of squad, notwithstanding repair work to £1brox??????   I think it would be prudent for 3angers to have a salary cap imposed for a few years otherwise its groundhogg day

Oh aye they're a mess, and their fans still go ballistic at the concept of living within their means. Unless they find a very very rich benefactor I don't know how they get out of this. 

[sadj]

17 minutes ago, doctor jambo said:

Whilst I don't think liquidation or even admin are on the cards there are a couple of things that cause me some concern- and that bother me greatly

 

1- rangers have continued to sign players, despite running massive deficits,

2- they are now on large emergency loans to fund larger squads

3- they are doing this, presumably to chase that second place and wangle a euro run to make them "viable " again- this was DK's business strategy as laid out at the AGM

4-even  if they DO manage this it all could go FBK Kaunas- the Lithuanian landmine that blew them to bits last time

 

Surely there has to be governing body oversight here?

Is there not a thing where the sfa has to allow them entry to Europe by meeting certain criteria or is that just a myth peddled after they were allowed in last year while not being financially stable

[buzzbomb1958]

The establishment are probably going through every means possible to help them out,I doubt any other club doing the same would be treated likewise,IMO the new club are flying by the seat of their pants ,in fact they are close if not are trading while insolvent .It's about time this shitfest was sorted once and for all it's a national disgrace how many more face painters etc are going to be fleeced by this odious institution

[doctor jambo]

46 minutes ago, Smithee said:

Oh aye they're a mess, and their fans still go ballistic at the concept of living within their means. Unless they find a very very rich benefactor I don't know how they get out of this. 

All their eggs are in the Europa Group basket.

Massive investment this year  to ensure second and then push for that Nirvana.

They gambled that Pedro would do it, and he hilariously didn't.

Now they are gambling that Murty can do it, otherwise there is a real possibility that they wont be able to afford a new manager next year

[Unknown user]

25 minutes ago, doctor jambo said:

All their eggs are in the Europa Group basket.

Massive investment this year  to ensure second and then push for that Nirvana.

They gambled that Pedro would do it, and he hilariously didn't.

Now they are gambling that Murty can do it, otherwise there is a real possibility that they wont be able to afford a new manager next year

Yeah it's pretty desperate, but even if they did get there, it's still a million miles off what celtic can command and just isn't enough to turn a loss making business around

 

[michael_bolton]

A bit of solemnity, please.

 

At this point of the thread we should pause to reflect on the fact that Rangers, unlike this thread, never made it to 2013.

 

[LeylandJambo]

18 hours ago, Mikey1874 said:

 

https://www.google.co.uk/amp/s/johnjamessite.com/2017/11/21/true-blue-treachery-an-exclusive-excerpt-from-craig-whytes-new-book/amp/

Started reading that then realised I was reading it to myself impersonating Bob Crampsey.

[tntjambo]

21 hours ago, Jambo-Jimbo said:

 

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.

 

 

Yes i agree the writing was on the wall when they Appointed Murty as Manager he was the cheapest option and now this Hard High Interest Pay Day Lender Loan to keep the lights on this is the end of the road no where else to go to borrow money unless some very rich investor comes in and bails them out.

[Lovecraft]

Maybe the SFA will switch Hamden to Parkhead and Ibrox to help them pay for repairs.

 

Maybe another reason Regan was punted, as he said no?

 

 

Edited February 9, 2018 by Lovecraft

[Jamboelite]

At the end of the day the SFA currently cant get involved as bills are being paid and while i hate the SFA there is nothing they can do at the moment.

 

That doesnt excuse their past misdemeanours.

[davie1980]

8 hours ago, Hagar the Horrible said:

Thats because they started off with a clean sheet.  money in the bank, but continued the WATP attitude and for every £1 Peterhead would spend, we would spend £1000.  They spent £m's on winning 2 lower league titles, even more to finish mid table in the championship, took 2 goes to win promotion back to the golden goose that is the Premiership.  Spent millions on dud managers like Fatso, the breadman and pedro.  ran up £20m in soft loans, and now borrowed £7m to a loan shark company using the car park and E-House as security (for which King slated previous regimes for?) they are now spending the next years season ticket money to get to the end of this season?  They need to keep spending the combined surplus of Aberdeen, Hearts and Hibs, just to compete with Aberdeen, Hearts and Hibs.  god knows how much they will need to to come a close second to Celtic?  they have a squad of players who are not the envy of any other SPL team?

 

Nope not many on here predicting the iminent demise of Rangers, and certainly the SMSM will be shocked when the big hoose of cards comes crashing down again, unless another off the radar sugar daddy bails them out.  The fake £8m for Merelos tells you everything, why take a £7m loan from a pay-dat loan company when £8m would have done the same job?

 

You don't need to tell me that, I've read all 2012 pages.

 

 

[socrates82]

1 hour ago, LeylandJambo said:

Started reading that then realised I was reading it to myself impersonating Bob Crampsey.

 

Don’t know who would buy that book other than Rangers fans. Whyte making money off them again...

[davie1980]

7 hours ago, Jambo-Jimbo said:

 

And but for numerous last ditch loans over the last 4 years or so, the lights would have indeed went out.

 

As I've said, if I were a Rangers fan I'd be extremely worried that the current directors are either unable or unwilling to bail the club out this time and external funding sources were required.

 

Here, if we keep predicting that it'll "turn full circle" every single day, we'll be proven right eventually.

 

 

[socrates82]

5 minutes ago, davie1980 said:

 

Here, if we keep predicting that it'll "turn full circle" every single day, we'll be proven right eventually.

 

 

 

When they started forking out big salaries and transfer fees almost immediately they were in the bottom league I think everyone knew it was a matter of time before they’d be in trouble again. 

 

Rangers have a track record of hiding just how bad their financial position is and they know they can rely on a tame press pack who are unwilling to do any real digging.

 

Last time Alex Thomson showed the scottish hacks up and it was only after he embarrassed them into reporting rangers plight properly that we started seeing really critical articles up here. Wouldn’t be surprised if the same thing happened again.

[Jambo-Jimbo]

14 minutes ago, davie1980 said:

 

Here, if we keep predicting that it'll "turn full circle" every single day, we'll be proven right eventually.

 

 

 

No it won't, we can predict anything we like day in day out, doesn't mean it'll happen, only 'The Rangers' can make the predictions come true through their actions.

 

[Coburg Hearts]

2 hours ago, LeylandJambo said:

Started reading that then realised I was reading it to myself impersonating Bob Crampsey.

[Jambo-Jimbo]

1 hour ago, tntjambo said:

Yes i agree the writing was on the wall when they Appointed Murty as Manager he was the cheapest option and now this Hard High Interest Pay Day Lender Loan to keep the lights on this is the end of the road no where else to go to borrow money unless some very rich investor comes in and bails them out.

 

And it would need to be an extremely rich investor indeed, because the amount of money needed to be spent for them to be able to reach the 'Promised Land' of Champions League Group stages and beyond season in season out, is going to cost hundreds of millions of pounds and with no guarantee of ever turning a profit.

Mega rich savours riding in on a white charger are few and far between down Govan way nowadays and certainly ever since minty lost his own private bank spending everybody else's money.

[inspector]

38 minutes ago, socrates82 said:

 

When they started forking out big salaries and transfer fees almost immediately they were in the bottom league I think everyone knew it was a matter of time before they’d be in trouble again. 

 

Rangers have a track record of hiding just how bad their financial position is and they know they can rely on a tame press pack who are unwilling to do any real digging.

 

Last time Alex Thomson showed the scottish hacks up and it was only after he embarrassed them into reporting rangers plight properly that we started seeing really critical articles up here. Wouldn’t be surprised if the same thing happened again.

I would be surprised by SMSM writing any critical articles. As we all know, our journalists will not go anywhere near exposing their darlings.