The Rangers soap opera goes on and on.

[WorldChampions1902]

20 minutes ago, alwaysthereinspirit said:

I guess the condition of the building at the time of the contract signing is the important bit. Can a derelict building get more derelict. Time will tell. It’s not going to end well for Newco. That’s become obvious now.

 

 

Unfortunately, the old phrase, "Creaking door hangs longest", seems to fit this abhorration of a football club to a tee.

[Fozzyonthefence]

This Morales thing is totally bizarre. Why would any club be falling over themselves to offer £11m for a player they could have bought for £1m just 7 months ago? What has he done in that 7 months to rocket his value? He’s scored 15 goals for the team expected to finish 2nd in a European backwater league. A team that creates chances and scores goals. The same as Lafferty who plays for a team that doesn’t score goals and creates very few chances.

So when do we sell Lafferty for £20m?!

[Beave1874]

36 minutes ago, Fozzyonthefence said:

This Morales thing is totally bizarre. Why would any club be falling over themselves to offer £11m for a player they could have bought for £1m just 7 months ago? What has he done in that 7 months to rocket his value? He’s scored 15 goals for the team expected to finish 2nd in a European backwater league. A team that creates chances and scores goals. The same as Lafferty who plays for a team that doesn’t score goals and creates very few chances.

So when do we sell Lafferty for £20m?!

 

Because.. If the other bum cheek can boost a players value so can they!!! Give the Orcs something to keep them happy.

 

They are just a cheap rip off.

 

[The Future's Maroon]

I was chatting to a very good mate today....but a der hun, he does know some of the current and past board etc....seemed pretty positive there is a large cash injection coming from somewhere in the next few weeks!

 

I asked where and he just said "you'll soon hear"?

 

I wouldn't doubt him, and he did admit to me they were in the shit months before the last death so unfortunately I tend to believe him....where it's coming from I don't know.

 

I hope (wish) he is wrong, but as I say he does know folk high up with them.

 

 

 

 

[jamboz]

So what happens to this arrangement with Close if the cold shoulder is affirmed and implemented?

[jamboz]

6 minutes ago, The Future's Maroon said:

I was chatting to a very good mate today....but a der hun, he does know some of the current and past board etc....seemed pretty positive there is a large cash injection coming from somewhere in the next few weeks!

 

I asked where and he just said "you'll soon hear"?

 

I wouldn't doubt him, and he did admit to me they were in the shit months before the last death so unfortunately I tend to believe him....where it's coming from I don't know.

 

I hope (wish) he is wrong, but as I say he does know folk high up with them.

 

 

 

 

 

Aye, 11 million from China don't you know?

 

Like this was never going to bite them in the arse...

https://philmacgiollabhain.ie/2018/02/17/the-sevco-high-command-decide-to-reign-in-their-overmighty-pr-fantasist/ 

 

[The Future's Maroon]

22 minutes ago, jamboz said:

 

Aye, 11 million from China don't you know?

 

Like this was never going to bite them in the arse...

https://philmacgiollabhain.ie/2018/02/17/the-sevco-high-command-decide-to-reign-in-their-overmighty-pr-fantasist/ 

 

No, nothing to do with that mythical bid.

[RENE]

1 hour ago, The Future's Maroon said:

I was chatting to a very good mate today....but a der hun, he does know some of the current and past board etc....seemed pretty positive there is a large cash injection coming from somewhere in the next few weeks!

 

I asked where and he just said "you'll soon hear"?

 

I wouldn't doubt him, and he did admit to me they were in the shit months before the last death so unfortunately I tend to believe him....where it's coming from I don't know.

 

I hope (wish) he is wrong, but as I say he does know folk high up with them.

 

 

 

 

Not questioning your mate TFM but if there is a large cash injection coming in a few weeks why get a loan from Close Bros for 3 million?

[NANOJAMBO]

2 hours ago, jamboz said:

So what happens to this arrangement with Close if the cold shoulder is affirmed and implemented?

IMO I think we can assume the deal survives  any Cold Shoulder.  

[RobNox]

1 hour ago, RENE said:

Not questioning your mate TFM but if there is a large cash injection coming in a few weeks why get a loan from Close Bros for 3 million?

My thoughts entirely.

 

The Close deal isn't an overdraft arrangement as is being painted by Sevco.  They are locked into a loan deal and will pay a substantial sum in interest.  If there was any prospect of a large cash injection coming any time soon, then why would they tie themselves up in this deal with Close?  Even if they had short term cashflow difficulties prior to the supposed cash injection, they wouldn't need to commit to a £3m deal.

[The Future's Maroon]

1 hour ago, RENE said:

Not questioning your mate TFM but if there is a large cash injection coming in a few weeks why get a loan from Close Bros for 3 million?

No problem, I asked the very same question but was brushed off as it being a short time thing. 

 

The guy I was speaking to I have known for over 20 years and I know he has contacts there, to me there must be something in the pipeline.

 

I am very surprised at this personally, like most folk I was expecting things to go completely tits up at Ibrox until that conversation...don't get me wrong I want them too, but as I say my mate knows a lot of the top dogs in football (Scottish and English), so unfortunately something must be brewing behind the scenes.

[Geoff Kilpatrick]

4 minutes ago, The Future's Maroon said:

No problem, I asked the very same question but was brushed off as it being a short time thing. 

 

The guy I was speaking to I have known for over 20 years and I know he has contacts there, to me there must be something in the pipeline.

 

I am very surprised at this personally, like most folk I was expecting things to go completely tits up at Ibrox until that conversation...don't get me wrong I want them too, but as I say my mate knows a lot of the top dogs in football (Scottish and English), so unfortunately something must be brewing behind the scenes.

The only way a cash injection could happen is if another party joins the concert party to fulfil the Takeover Panel's demand or the other parties involved pony up. That said, that isn't an injection into Sevco, it is an offer to all shareholders. They have to do that before they pursue another rights issue which would put money into them.

 

Neither scenario looks likely.

[The Future's Maroon]

I assumed the same Geoff a couple of days ago, I like many others was expecting the proverbial to hit the fan but my thoughts have been changed after my conversation.

 

 

[Geoff Kilpatrick]

Just now, The Future's Maroon said:

I assumed the same Geoff a couple of days ago, I like many others was expecting the proverbial to hit the fan but my thoughts have been changed after my conversation.

 

 

I didn't think shit was hitting fans (I'm quite content with the mediocrity that is Sevco FC) but it would stun me if there was a mystery philanthropist out there willing to work with a fraudster like King.

[socrates82]

1 hour ago, The Future's Maroon said:

No problem, I asked the very same question but was brushed off as it being a short time thing. 

 

The guy I was speaking to I have known for over 20 years and I know he has contacts there, to me there must be something in the pipeline.

 

I am very surprised at this personally, like most folk I was expecting things to go completely tits up at Ibrox until that conversation...don't get me wrong I want them too, but as I say my mate knows a lot of the top dogs in football (Scottish and English), so unfortunately something must be brewing behind the scenes.

 

It doesn't bother me if someone else with more money than sense wants to try their luck at making money from Rangers. The point is to have any chance of getting in the CL, ie overtake Celtic, they need to spend more than people thought when King first took over (and it looks like he realised that as he hasn't opened any sort of serious warchest). Celtic are stockpiling cash. Rangers would need to spend around 100m to get close and if they started spending that much, all Celtic would do is loosen their pursestrings a bit more each time Rangers splashed the cash. The only way Rangers can have a hope of CL football again, and the money that comes with that, is if they get a Man City or other English club type foreign buyer, someone who pumps so much money in they turn into a title contender over night.

Edited February 18, 2018 by socrates82

[busby1985]

So in the past three years “Big cash investment” has been coming from Red Bull, Chinese investors, Mike Ashley and now a new “mystery” buyer. A club that needs soft loans to see out the season but have “100%” rejected numerous bids, for a no mark player, in excess of £7million. The same club that announced the £1million signing of Jamie Murphy only to later announce that in fact they’d signed him on loan and then went on to sign Doherty from Hamilton in a deal that took almost two weeks to negotiate a 600k transfer fee made up off no up front cash and instalments of 100k every 6 months or so. Why are the football authorities not questioning the going ins behind the scenes? Why aren’t the media asking questions about the increasing debit and the need for soft loans again to see out the season. The failure to land Michael O’Neil is being spouted as the reason Regan resigned, I think there could be a little more to it than just that. Not a single lesson has been learnt by anyone at Rangers or the SFA after the last farce. Rangers must succeed against all else, nothing less than that is acceptable. 

[Unknown user]

I see rangersmedia's been hacked

 

 

[Another Robbo]

1 hour ago, Smithee said:

I see rangersmedia's been hacked

 

 

Zombie now replaced by:

 

Hello Rangers Fans. We have been informed. You are not the same club, action has been taken. We are Anonymous. We are legion, all your database are belong to us.

 

[Footballfirst]

1 minute ago, Another Robbo said:

Zombie now replaced by:

 

Hello Rangers Fans. We have been informed. You are not the same club, action has been taken. We are Anonymous. We are legion, all your database are belong to us.

 

That's what I got.

 

 

Try clicking "Home" and see what comes up.

Edited February 18, 2018 by Footballfirst

[Unknown user]

2 minutes ago, Another Robbo said:

Zombie now replaced by:

 

Hello Rangers Fans. We have been informed. You are not the same club, action has been taken. We are Anonymous. We are legion, all your database are belong to us.

 

They're wreaking havoc, the most recent posts are getting older. If I was them I'd be redirecting to Phil wossname's page for maximum irritation.

On a match day too 

[Hearts007]

6 minutes ago, Footballfirst said:

That's what I got.

 

 

Try clicking "Home" and see what comes up.

[Beast Boy]

Anonymous tend to get pretty vengeful and wrathful when someone tries to copy their shit. Probably shouldn’t have used their wee logo. Be funny if the real anonymous hacked the Tim’s that did this in return.

[Justin Z]

43 minutes ago, Footballfirst said:

That's what I got.

 

 

Try clicking "Home" and see what comes up.

 

Thanks for the jump scare warning you c**t!

[tntjambo]

Craigy Boy Minty and The Lying King are the 3 people at the helm since they got sold for a quid it is spinning faster and faster to oblivion.

[redjambo]

50 minutes ago, Ryder said:

Anonymous tend to get pretty vengeful and wrathful when someone tries to copy their shit. Probably shouldn’t have used their wee logo. Be funny if the real anonymous hacked the Tim’s that did this in return.

 

There is no Anonymous. Just people who decide to take action in the name of Anonymous. And that could be anybody (which is the whole point).

 

I surmise that this won't upset the "partakers in the Anonymous spirit" at all. It will barely register. It may however, as you rightly point out, trigger Rangers-leaning hackers to do similar to Celtic targets.

 

Could get interesting.

 

[Beast Boy]

3 minutes ago, redjambo said:

 

There is no Anonymous. Just people who decide to take action in the name of Anonymous. And that could be anybody (which is the whole point).

 

I surmise that this won't upset the "partakers in the Anonymous spirit" at all. It will barely register. It may however, as you rightly point out, trigger Rangers-leaning hackers to do similar to Celtic targets.

 

Could get interesting.

 

 

Yeah, so it would appear. Did a wee bit digging after my comment. In all honesty, the Tims would be a prime target themselves. Rancid big capitalist machine squeezing out all the competition whilst posing as some sort of leftist paragon of virtue. Hopefully someone who identifies with anonymous does them too.

 

This is all getting a wee bit cringey now though. As much as I despise Rangers, the Celtic fuds who are attempting to take ‘direct action’ are intolerable bellends. A horrible football club who’s supporters and blazers would burn Scottish Football and everyone involved to the ground to further their own interests.

 

Find it hard to stand on side with some of the arseholes involved in all this sort of shit. 

[Maroon tinted glasses 2]

13 hours ago, The Future's Maroon said:

I was chatting to a very good mate today....but a der hun, he does know some of the current and past board etc....seemed pretty positive there is a large cash injection coming from somewhere in the next few weeks!

 

I asked where and he just said "you'll soon hear"?

 

I wouldn't doubt him, and he did admit to me they were in the shit months before the last death so unfortunately I tend to believe him....where it's coming from I don't know.

 

I hope (wish) he is wrong, but as I say he does know folk high up with them.

 

 

 

 

Is this not the same guff they have been coming out with for years, new investment blah, big money signings blah, big money sales blah. In all honesty it's just a whole new rangers version of the emperors new clothes. 

 

To find out your mates blurred vision level of support to his beloved club you only need to ask him three simple questions - 

 

1. Do you think your old club cheated for years by not disclosing the true contractual information for all those players as per SFA rules? 

 

2. Do you think old rangers and new rangers are the same club with an unbroken history? 

 

3. Are you embarrassed by the joke stars above the club crest. 

 

If the answers to any of the above questions are anything other than what we know to be true then you shouldn't believe anything he comes out with. 

[Maroon tinted glasses 2]

13 hours ago, The Future's Maroon said:

I was chatting to a very good mate today....but a der hun, he does know some of the current and past board etc....seemed pretty positive there is a large cash injection coming from somewhere in the next few weeks!

 

I asked where and he just said "you'll soon hear"?

 

I wouldn't doubt him, and he did admit to me they were in the shit months before the last death so unfortunately I tend to believe him....where it's coming from I don't know.

 

I hope (wish) he is wrong, but as I say he does know folk high up with them.

 

 

 

 

Is this not the same guff they have been coming out with for years, new investment blah, big money signings blah, big money sales blah. In all honesty it's just a whole new rangers version of the emperors new clothes. 

 

To find out your mates blurred vision level of support to his beloved club you only need to ask him three simple questions - 

 

1. Do you think your old club cheated for years by not disclosing the true contractual information for all those players as per SFA rules? 

 

2. Do you think old rangers and new rangers are the same club with an unbroken history? 

 

3. Are you embarrassed by the joke stars above the club crest. 

 

If the answers to any of the above questions are anything other than what we know to be true then you shouldn't believe anything he comes out with. 

[davieholt]

15 minutes ago, Ryder said:

 

Yeah, so it would appear. Did a wee bit digging after my comment. In all honesty, the Tims would be a prime target themselves. Rancid big capitalist machine squeezing out all the competition whilst posing as some sort of leftist paragon of virtue. Hopefully someone who identifies with anonymous does them too.

 

This is all getting a wee bit cringey now though. As much as I despise Rangers, the Celtic fuds who are attempting to take ‘direct action’ are intolerable bellends. A horrible football club who’s supporters and blazers would burn Scottish Football and everyone involved to the ground to further their own interests.

 

Find it hard to stand on side with some of the arseholes involved in all this sort of shit. 

 

Excellent post. Bravo 

[Hagar the Horrible]

Meanwhile Mr King was expected to appeal against a court ruling which has ordered him to make an £11 million share offer. He was said to be talking to the Takeover Panel in the wake of the order to make an offer of 20 pence a share after he was found to have acted in concert with the Three Bears when seizing control of the club three years ago.

 

This from the Herald is using a past progressive tense........is this more likely then that he has given up the appeal?

[NANOJAMBO]

3 minutes ago, Hagar the Horrible said:

Meanwhile Mr King was expected to appeal against a court ruling which has ordered him to make an £11 million share offer. He was said to be talking to the Takeover Panel in the wake of the order to make an offer of 20 pence a share after he was found to have acted in concert with the Three Bears when seizing control of the club three years ago.

 

This from the Herald is using a past progressive tense........is this more likely then that he has given up the appeal?

They have no clue what is going on but are reminding him of his alleged intentions and obligations.  I'd say The Herald is having a right go at King.

But all things are relative in things Sevco. 

[The Future's Maroon]

7 hours ago, Maroon tinted glasses 2 said:

Is this not the same guff they have been coming out with for years, new investment blah, big money signings blah, big money sales blah. In all honesty it's just a whole new rangers version of the emperors new clothes. 

 

To find out your mates blurred vision level of support to his beloved club you only need to ask him three simple questions - 

 

1. Do you think your old club cheated for years by not disclosing the true contractual information for all those players as per SFA rules? 

 

2. Do you think old rangers and new rangers are the same club with an unbroken history? 

 

3. Are you embarrassed by the joke stars above the club crest. 

 

If the answers to any of the above questions are anything other than what we know to be true then you shouldn't believe anything he comes out with. 

 

Your three questions, I have hit him with that banter a few times and yes they answer it like a politician....don't actually answer the questions.

 

From what he said it is not a new buyer(s), its some kind of investment....'hand out' if you will.

 

He wouldn't give me detailed information, which I respect as I have known him for so long.

 

As I said last night, I have no reason to not trust his words, he is a very well respected individual in business and football.

 

I really want them to die a slow death personally, I hate the institution that they are but I believe what I have been told that something is coming, unfortunately.

[tntjambo]

On 17/02/2018 at 21:41, The Future's Maroon said:

I was chatting to a very good mate today....but a der hun, he does know some of the current and past board etc....seemed pretty positive there is a large cash injection coming from somewhere in the next few weeks!

 

I asked where and he just said "you'll soon hear"?

 

I wouldn't doubt him, and he did admit to me they were in the shit months before the last death so unfortunately I tend to believe him....where it's coming from I don't know.

 

I hope (wish) he is wrong, but as I say he does know folk high up with them.

 

 

 

 

 

You may have been right with this one but its all gone wrong   https://philmacgiollabhain.ie/2018/02/17/two-prospective-backers-refuse-sevco/

[Glamorgan Jambo]

21 hours ago, Hagar the Horrible said:

Meanwhile Mr King was expected to appeal against a court ruling which has ordered him to make an £11 million share offer. He was said to be talking to the Takeover Panel in the wake of the order to make an offer of 20 pence a share after he was found to have acted in concert with the Three Bears when seizing control of the club three years ago.

 

This from the Herald is using a past progressive tense........is this more likely then that he has given up the appeal?

 

Unlikely he has given up on his appeal, anyway we'll find out soon as I think the hearing is set for the end of this month. Of course then there will likely be a delay of a few months before the judgement get's published. which is exactly what he wants as he tries to find a way out.

 

In terms of him talking to the Takeover Panel I find that unlikely, unless he's getting ready to get going with the offer. The appeal process has been exhausted and what is being argued about at court is the enforcement of the offer. The Court of Session won't impinge on the competence of the TOP to declare the existence of the concert party and King being the member responsible for going over the 30% threshold. They may question the process of enforcement if the judge King's 'penniless' status as credible.

 

The Morelos transfer fiasco will be linked to this in some sort of way. As with the appeal process we'll find out shortly as the Chinese transfer window closes in just over a week's time.

[Hagar the Horrible]

1 hour ago, Glamorgan Jambo said:

 

Unlikely he has given up on his appeal, anyway we'll find out soon as I think the hearing is set for the end of this month. Of course then there will likely be a delay of a few months before the judgement get's published. which is exactly what he wants as he tries to find a way out.

 

In terms of him talking to the Takeover Panel I find that unlikely, unless he's getting ready to get going with the offer. The appeal process has been exhausted and what is being argued about at court is the enforcement of the offer. The Court of Session won't impinge on the competence of the TOP to declare the existence of the concert party and King being the member responsible for going over the 30% threshold. They may question the process of enforcement if the judge King's 'penniless' status as credible.

 

The Morelos transfer fiasco will be linked to this in some sort of way. As with the appeal process we'll find out shortly as the Chinese transfer window closes in just over a week's time.

Its kind of a bit muddier than that, King had until the 15th to submit reasons for an appeal?  the 2 day hearing is to decide if the appeal will be granted?  at best he gets to kick the can further down the road, but at more legal expenses, and there would need to be a good reason just to come up with grounds for the appeal let alone winning it.  so at best he gets to push the actual appeal so far down the road it buys a lot of time, but he is more likely to lose that appeal at great expense and still have to find the £11m.  But from the silence one can only guess that he is not going to bother, or the legal can find no grounds.   But as i said if there is a good reason, then I will want to put that legal team in by call list?

 

Still even with the silence at worst we will find out on the 28th, I just dont understand why/how this has not been leaked.  I still think it says a lot more about King that based on the earlier judgement are the staement made, King is having to flog a dead horse to buy more time at great expence rather than bite the bullet put out a share offer and hope nobody takes it up, the later must be the cheaper option.  But the real clever bit would be NOT to have bought those shares in the first place

[Glamorgan Jambo]

47 minutes ago, Hagar the Horrible said:

Its kind of a bit muddier than that, King had until the 15th to submit reasons for an appeal?  the 2 day hearing is to decide if the appeal will be granted?  at best he gets to kick the can further down the road, but at more legal expenses, and there would need to be a good reason just to come up with grounds for the appeal let alone winning it.  so at best he gets to push the actual appeal so far down the road it buys a lot of time, but he is more likely to lose that appeal at great expense and still have to find the £11m.  But from the silence one can only guess that he is not going to bother, or the legal can find no grounds.   But as i said if there is a good reason, then I will want to put that legal team in by call list?

 

Still even with the silence at worst we will find out on the 28th, I just dont understand why/how this has not been leaked.  I still think it says a lot more about King that based on the earlier judgement are the staement made, King is having to flog a dead horse to buy more time at great expence rather than bite the bullet put out a share offer and hope nobody takes it up, the later must be the cheaper option.  But the real clever bit would be NOT to have bought those shares in the first place

Thanks for the clarification.

[tntjambo]

5 hours ago, Hagar the Horrible said:

Its kind of a bit muddier than that, King had until the 15th to submit reasons for an appeal?  the 2 day hearing is to decide if the appeal will be granted?  at best he gets to kick the can further down the road, but at more legal expenses, and there would need to be a good reason just to come up with grounds for the appeal let alone winning it.  so at best he gets to push the actual appeal so far down the road it buys a lot of time, but he is more likely to lose that appeal at great expense and still have to find the £11m.  But from the silence one can only guess that he is not going to bother, or the legal can find no grounds.   But as i said if there is a good reason, then I will want to put that legal team in by call list?

 

Still even with the silence at worst we will find out on the 28th, I just dont understand why/how this has not been leaked.  I still think it says a lot more about King that based on the earlier judgement are the staement made, King is having to flog a dead horse to buy more time at great expence rather than bite the bullet put out a share offer and hope nobody takes it up, the later must be the cheaper option.  But the real clever bit would be NOT to have bought those shares in the first place

What happens if kings hand is forced and he makes the offer which is accepted then he just says he has no money?

[Footballfirst]

Some light reading on Rangers transfer dealings

 

http://twohundredpercent.net/rangers-transfer-window/

[Lovecraft]

30 minutes ago, Footballfirst said:

Some light reading on Rangers transfer dealings

 

http://twohundredpercent.net/rangers-transfer-window/

Bang on 100%

 

Says it exactly as it is.

 

I personally think they are ****ed and it's only a matter of time before Admin 2 comes along at the very least.

 

 

 

 

[alwaysthereinspirit]

37 minutes ago, Footballfirst said:

Some light reading on Rangers transfer dealings

 

http://twohundredpercent.net/rangers-transfer-window/

I think we've all known since the early days of this thread how in the tank the Scottish Sports Media (football wise) are and will continue to be when it comes to Celtic or Newco.

[RobNox]

2 hours ago, tntjambo said:

What happens if kings hand is forced and he makes the offer which is accepted then he just says he has no money?

I believe he has to provide proof of funding to support the offer - pay the money upfront into an into an escrow account so that he can;t renege on the offer.

[WorldChampions1902]

8 minutes ago, RobNox said:

I believe he has to provide proof of funding to support the offer - pay the money upfront into an into an escrow account so that he can;t renege on the offer.

I didn't appreciate this. If that scenario comes to fruition, I can see yet another usury loan from Close Brothers et al on the horizon. Or is King not allowed to borrow to cover this?

[Jambo66]

10 minutes ago, RobNox said:

I believe he has to provide proof of funding to support the offer - pay the money upfront into an into an escrow account so that he can;t renege on the offer.

That's my understanding too. However, he may be able to get a financial institution to pay the money - for a price. That would depend on the FI being convinced that no-one will sell their shares.

 

That seems unlikely...

[FWJ]

4 hours ago, tntjambo said:

What happens if kings hand is forced and he makes the offer which is accepted then he just says he has no money?

Sorry to be so thick about this - but what does he have to pay, by when  and what happens if he doesn’t?

[milky_26]

Just now, FWJ said:

Sorry to be so thick about this - but what does he have to pay, by when  and what happens if he doesn’t?

it is the offer for the remaining shares he has to make, and as others above have said i think he has to put the money in escrow in case other shareholders want to accept the offer. i have a figure of £7M in my head but i'm sure other posters will correct me on the value and the dates when he has to do what

[Footballfirst]

17 minutes ago, milky_26 said:

it is the offer for the remaining shares he has to make, and as others above have said i think he has to put the money in escrow in case other shareholders want to accept the offer. i have a figure of £7M in my head but i'm sure other posters will correct me on the value and the dates when he has to do what

 

He would have to make an offer for the 53.7m shares not owned by himself and the three bears.  That could cost him a maximum of £10.75m.

 

In practice, Club1872 wouldn't sell, nor would most of the small shareholders.  The likeliest candidates to sell are the original shareholders like Blue Pitch, Margarita, Norne Ansalt, Putney and others in Sandy Easdale's proxy.  The Easdales themselves would be among the other candidates along with River & Mercantile.  I'd estimate his maximum exposure as about £4m

 

I think the original TOP ruling gave him 30 days to make an offer and a further 28 days for it to be finalised (paid).

 

There is another caveat in that if he doesn't get enough acceptances to take the concert party from their current 34.05% to 50%, then he doesn't need to go through with the offer at all.  If an offer was to meet the 50% threshold, then it would cost King a minimum £2.6m.

Edited February 19, 2018 by Footballfirst

[FWJ]

Thanks for the replies - but what happens if he just doesn’t?  What sanctions could he face?

[Footballfirst]

2 minutes ago, FWJ said:

Thanks for the replies - but what happens if he just doesn’t?  What sanctions could he face?

If he defies the court order then he could be done for contempt, with a maximum sentence of two years imprisonment.

 

More likely, he would be cold shouldered, perhaps with a large fine, and he would scuttle off to SA never to be seen again.

[Don Dan]

Is a Director not supposed to tell the truth and not mislead the Shareholders? This is plainly a lie and misleading!!!

 

Rangers Managing Director Stewart Robertson called Close’s facility a “real vote of confidence in where we are taking the club.” The “additional source of funds” was for “growing parts of the business” and “projects around Ibrox.” And, maybe digging at Mac Giolla Bhain’s depiction of RIFC as a “loss-making business without a credit line from a bank,” Robertson added: “Some folk take pleasure in winding us up because we don’t have a banking facility.” It was, he concluded, “part of normalising the club, to be honest.” But the deal’s detail revealed him as not being very honest at all.

 

 

Meanwhile, Rangers “secured an overdraft facility for the first time since David Murray was owner” (Daily Business, 8th February). Herald Group Senior Sports Writer, Chris Jack, said merchant bankers Close Brothers’ subsidiary, Close Leasing, gave Rangers “access to a seven-figure facility” which meant that “the dark clouds that once hung over the club have dissipated.”

 

He chose not the correct this statement as well.

[FWJ]

5 minutes ago, Footballfirst said:

If he defies the court order then he could be done for contempt, with a maximum sentence of two years imprisonment.

 

More likely, he would be cold shouldered, perhaps with a large fine, and he would scuttle off to SA never to be seen again.

Cheers!