The Rangers soap opera goes on and on.

[Mr Sifter]

Thread here covers the full transcript of Kings conference...and ra berrs reaction. An interesting read, the majority of them know King is full of shite, Gerrard or not.

 

http://forum.rangersmedia.co.uk/topic/315732-dave-king-full-qa/

[Lovecraft]

"I don’t want more money into the club at this point in time, I don’t want more money just for the sake of spending it. We have a certain plan and the funds are available for next year whether there is a rights issue or not and I’m not going to change that."

 

[XB52]

Did anyone else read that and think it was a series of twitters from Trump?? 

[Meadows]

For a club that have more gardening leave than Dobbies , wonder why Paul Murray didn’t utilise this option if he was ‘tired’ ? 

[Jambo-Jimbo]

Surely by now Gerrard must realise what a complete fool and sucker he's been believing anything King has said including talk of a 'war chest'.

 

Total civil war and meltdown if Gerrard does the sensible thing and walks away, it is the Rangers way after all.

 

[132goals1958]

That is an incredible read and surely it can’t be long before he paints himself into a corner. The hordes that swarmed to the ground for the unveiling of Gerrard have been brought back to earth with a bump. Basically stuff TOP, the fairy tale investors are just that, we will continue to fund losses until the pot of money from the champions league arrives, Celtic will tumble like a pack of cards,  He will make up any deficit in his targeted 16million. If Vlad had come out with this unadulterated tripe it would have been all over the front pages.

[BelgeJambo]

Should have arrested the GLIB yesterday while he was in the country for contempt of court.

[Jambof3tornado]

No intention of making the offer he is required to.

 

Didnt sell morelos because they had promised any funds raised from sales would go back to the playing side so there was no point.

 

Doesn't want to run at a profit.

 

How the hell do they get a licence from the SFA??????

 

SKINT ROOKIT BUT CHAMPIONS LEAGUE WILL SAVE US!!!

 

Are there really any huns accepting what he says????

[colinmaroon]

10 minutes ago, Jambof3tornado said:

No intention of making the offer he is required to.

 

Didnt sell morelos because they had promised any funds raised from sales would go back to the playing side so there was no point.

 

Doesn't want to run at a profit.

 

How the hell do they get a licence from the SFA??????

 

SKINT ROOKIT BUT CHAMPIONS LEAGUE WILL SAVE US!!!

 

Are there really any huns accepting what he says????

 

 

99.9% have swallowed hook, line and SINKER.

 

Here's to the sinking!

[Mr Sifter]

...and whilst we all dissect the shitstorm that is RFC, I've just turned on Talksport to hear Jim White hosting a phone in on whether Rangers will sign Wayne Rooney ???

[dickdangleberry]

2 hours ago, BelgeJambo said:

Should have arrested the GLIB yesterday while he was in the country for contempt of court.

 

Apparently there was an embargo in place to prevent the full Q&A being released to the public before 11pm.

 

Wonder what time Mr King’s flight back to Johannesburg was!

[tntjambo]

all so called soft loans will never be paid back  http://www.ibroxnoise.co.uk/2018/05/dave-king-makes-stunning-admission.html  not sure about the close brothers loan it appears to be secured so not even the slippery lying king can get out of paying that one back.

[Jeff]

Some Rangers fans are still blaming TOP for all of this haha

[Jambof3tornado]

Running at a loss year on year. Thats a business model and a half!!

[John Findlay]

1 hour ago, Mr Sifter said:

...and whilst we all dissect the shitstorm that is RFC, I've just turned on Talksport to hear Jim White hosting a phone in on whether Rangers will sign Wayne Rooney ???

Anything to try and gain listeners.

[The Gasman]

59 minutes ago, tntjambo said:

all so called soft loans will never be paid back  http://www.ibroxnoise.co.uk/2018/05/dave-king-makes-stunning-admission.html  not sure about the close brothers loan it appears to be secured so not even the slippery lying king can get out of paying that one back.

 

Thats pretty common for many soft loans in companies to be fair.  Rather than the loan being repaid in cash, it’s paid back with shares in the business.

 

Debt for equity - Vlad did a couple of such swaps with us, and it’s not an unusual (or underhand) business method.

[kirkierobroy]

I wonder if the SPFL and SFA have any view on one of their clubs' chairmen acting like a gunslinging Donald Trump and playing truth games with the financial authorities, while signing a big ticket (if unproven) manager?

 

I don't mean, will they do anything - I mean, come on - I just wonder if they are taking a note of this and maybe looking into their souls a bit.

[Glamorgan Jambo]

1 minute ago, kirkierobroy said:

I wonder if the SPFL and SFA have any view on one of their clubs' chairmen acting like a gunslinging Donald Trump and playing truth games with the financial authorities, while signing a big ticket (if unproven) manager?

 

I don't mean, will they do anything - I mean, come on - I just wonder if they are taking a note of this and maybe looking into their souls a bit.

 

If all this flak and bs aimed at the Takeover Panel and the Scottish Courts doesn't comprise grounds for bringing the game into disrepute then heaven help us.

[Hagar the Horrible]

For a brief fleeting moment my hearts sank as the realisation that Sevco would be at the same exiting point the day Souness took over?  Stevie G in the seat, serious money being spent from some super rich sugar daddy willing to allow King to spend serious money on a squad capable of beating Celtic, thus reducing our ambitions to once again thinking 3^rd is the only hope?  Hibs would have their world class midfield enticed to the promised land while Hibs get 20p a packet of crisps and a Beano, and be grateful as these players have been released from their ER hell?  Aberdeen a similar scenario which would be a bigger GIRUY to McInnis as he turned them down.

A week later you realise the Gerrard has been lied to, the Media are reporting this as verbatim. The soft loans will be forgiven, the rights issue will raise £6m and all will be rosy.  The balance of loans v cash?  Its clear they will convert debt to equity and as such break the TOP ruling further?  The TOP ruling is Irrelevant?  Sorry Dave the courts said your impecunious state is irrelevant!!!!

Except there is no word from the other directors that they WILL forgive the loan, but might use this at worst to convert into shares?  On one hand the £8m offer from the fake Chinese team would NOT be used to repay any loans, yet they needed the Close Bro.s one in any case…Lie.  The £8m would be only used for the squad, yet confirmed Murty could not buy a replacement with that money?  He could have bought a new squad better than they have?  Another lie.

He claims he was given permission by TOP to use a third party in SA, TOP say otherwise, It Must be in the UK, hence the delay?  I just tried to put money into an Escrow account, and had I had the money, it would have pretty much been done today, without any real issue!

What he said was the truth is that he won’t comply with TOP and the offer won’t go through, of that he is telling the truth?  He has already stated that the club won’t be bothered by all of this?  And he can do what he feels comfortable with this, as he lives in SA.  What about Letham and Park, they don’t??? He has been fighting with the authorities for 22 years and won, so does not think TOP will win this one? We’ll see?   Also is this the kind of person to run a football club?  The laws don’t apply to him…really? 

He has given a guarantee to the TOP that the money IS in SA?  Just like has given a guarantee that he will comply with the TOP ruling…so far NOT! He has given a guarantee to the auditors that he would personally fund the shortfall in funds for this current season…Close Brothers deal made that a Lie!  He has given a guarantee to the SFA/SPFL and EUFA that he will guarantee the shortfall for this coming season with personal funds should the fake share-offer not materialise?  What has he promised Stevie for a warchest?  I can see MrSG not being in the dugout before the season start while King blaming TOP and SARS. 

Still its good to hear that this loss making behemoth is deliberate!!!

[The Mighty Thor]

8 minutes ago, kirkierobroy said:

I wonder if the SPFL and SFA have any view on one of their clubs' chairmen acting like a gunslinging Donald Trump and playing truth games with the financial authorities, while signing a big ticket (if unproven) manager?

 

I don't mean, will they do anything - I mean, come on - I just wonder if they are taking a note of this and maybe looking into their souls a bit.

The GFA are collectively nursing a chubby at the prospect of ra peepul being back 'where they belong'

[Glamorgan Jambo]

From the Q&A in the Daily Ranger

What is the level of acceptance?

It is going to have to be 50 per cent of the non concert party shareholders, so you need the Easdales, all the Beaufort Nominees, the Blue Pitches, the Margaritas, to sell at 20p and they are not going to do that.

 

Here King is inferring that he has to get over 50% of the non concert party shareholders before his offer (if ever made) goes ahead.

 

From the Takeover Panel Code

Except with the consent of the Panel (see Note 3):
(a) offers made under Rule 9 must be conditional only upon the offeror having received acceptances in respect of shares which, together with shares acquired or agreed to be acquired before or during the offer, will result in the offeror and any person acting in concert with it holding shares carrying more than 50% of the voting rights;

 

This would only require him to get 16% or roughly one quarter of the non concert party shares in order to be forced to pony up.

 

Maybe some of our journos could do a bit of background reading. The whole Q&A is so full of untruths, disinformation (e.g. he says it's only recently he was given permission to make the bid from one of his trust companies but this actually happened more than a year ago) and disassembly that he'll likely be in front of a judge next time he steps off a plane.

[jambovambo]

“Dave King- when arrogance and stupidity collide.
King seems to think the Takeover Panel are spineless wimps who don't have the balls to take on a real man like himself. ?”

 

@TheTributeAct on Twitter

[jambo1961]

Not selling the player as the money would just lie in the bank was a cracker  ...an empty account that was topped up by a payday loan

 

 

''Oh! What a tangled web we weave, when first we practice to deceive"

[Jamboelite]

16 hours ago, Footballfirst said:

The full Q&A is frightening in the way is exposes King's delusional thinking.

 

How not to run a football club.

 

When will Rangers return to profitability?

Not in the foreseeable future, because we are not going to run it to make a profit in the foreseeable future. I would expect us only to start making a profit when we are back playing Champions League. Until that point, I think we are going to have to continue funding the deficit every single year.

Just not sustainable...

[Toxteth O'Grady]

3 hours ago, Glamorgan Jambo said:

From the Q&A in the Daily Ranger

What is the level of acceptance?

It is going to have to be 50 per cent of the non concert party shareholders, so you need the Easdales, all the Beaufort Nominees, the Blue Pitches, the Margaritas, to sell at 20p and they are not going to do that.

 

Here King is inferring that he has to get over 50% of the non concert party shareholders before his offer (if ever made) goes ahead.

 

From the Takeover Panel Code

Except with the consent of the Panel (see Note 3):
(a) offers made under Rule 9 must be conditional only upon the offeror having received acceptances in respect of shares which, together with shares acquired or agreed to be acquired before or during the offer, will result in the offeror and any person acting in concert with it holding shares carrying more than 50% of the voting rights;

 

This would only require him to get 16% or roughly one quarter of the non concert party shares in order to be forced to pony up.

 

Maybe some of our journos could do a bit of background reading. The whole Q&A is so full of untruths, disinformation (e.g. he says it's only recently he was given permission to make the bid from one of his trust companies but this actually happened more than a year ago) and disassembly that he'll likely be in front of a judge next time he steps off a plane.

Why wouldn't they sell at 20p when King has just told them he is going to dilute their shares soon?

[jock _turd]

So effectively what DK is saying is F TOP they can do nothing to me, the club directors or my business  associates ? I don't know if he is right but one thing does surprise me is that to date TOP have managed to do zip and I think that is why he has adopted this stance. I have no idea what the rules are about company directors domicile in relation to the country the company is doing its business... but might we have seen the last of DK actually visiting the UK for fear of being arrested and he will be an absentee chairman ?

[jambovambo]

1 hour ago, jock _turd said:

So effectively what DK is saying is F TOP they can do nothing to me, the club directors or my business  associates ? I don't know if he is right but one thing does surprise me is that to date TOP have managed to do zip and I think that is why he has adopted this stance. I have no idea what the rules are about company directors domicile in relation to the country the company is doing its business... but might we have seen the last of DK actually visiting the UK for fear of being arrested and he will be an even more absentee chairman ?

Um .., fixed that ...

[Rudy T]

So I'm a little confused. He's saying unless they get into the champions league the company will never post a profit. That's clearly to avoid Corp tax and dividends...I get that, however he's going to offer buy shares at 20p in a company that isn't likely to ever trade in profit and he's absolutely sure this won't be taken up... That's what he's saying right?

 

He better be really sure on that one as presumably the Easdales are the power brokers in this or he's royaly fecked and so are Rangers...despite the fact they got nothing to do with each other apparently according to king.

 

It boils down to a rights issue, season ticket cash and player sales. He's basically asking the former Liverpool under 20 manager to wheel and deal across the transfer market to such a degree they will win the league against the team who have just wiped the floor with them twice...what could possibly go wrong!

[WageThief]

1 hour ago, Toxteth O'Grady said:

Why wouldn't they sell at 20p when King has just told them he is going to dilute their shares soon?

 

Yeah I'd like to know the answer to this too.  On top of the proposed share dilution, it is a company that is running at a loss, "deliberately" accordingly to Mr Glib and Shameless, and will continue to do so until they win the league and get to CL group stages.  He even says the loans will not be paid back ever (presumably not referring to Close Bros).  

 

That Rangers forum has a couple of people saying "why would they sell for 20p when they bought for 25p".  Obviously they'd sell for 20p if they think the shares are worth around 0p.

 

The best justification I can think of is that they are Rangers fans and they don't want to sell even more of the club to Dodge King.

[WageThief]

2 hours ago, Jamboelite said:

Just not sustainable...

 

It would be sustainable(ish) if King actually had cash, at least as sustainable as Jack Walker at Blackburn (sustainable until it eh...isnt).

 

I'm far from an expert on either man or club, but King actually seems like a reverse Fergus McCann.  The latter had money and built the club up into a sustainable business.  The former has no money and wishes to run the club like a sugar daddy.

[Toxteth O'Grady]

11 minutes ago, WageThief said:

 

Yeah I'd like to know the answer to this too.  On top of the proposed share dilution, it is a company that is running at a loss, "deliberately" accordingly to Mr Glib and Shameless, and will continue to do so until they win the league and get to CL group stages.  He even says the loans will not be paid back ever (presumably not referring to Close Bros).  

 

That Rangers forum has a couple of people saying "why would they sell for 20p when they bought for 25p".  Obviously they'd sell for 20p if they think the shares are worth around 0p.

 

The best justification I can think of is that they are Rangers fans and they don't want to sell even more of the club to Dodge King.

Exactly - The likes of Blue Pitch and Magarita will see it as the last chance to get anything close to 20p a share - they will surely cut and run

Edited May 8, 2018 by Toxteth O'Grady

[jambovambo]

https://philmacgiollabhain.ie/2018/05/08/rugger-guy-looks-closely-at-mr-kings-latest-move/

[jambovambo]

“Dave King, here, openly admitting that Rangers are in the appeals process after being rejected for a UEFA Licence for next season“ - Richard Wilson

 

 

Suggestions on Twitter sevco having trouble getting go ahead for Europe next year. 

[RobNox]

https://philmacgiollabhain.ie/2018/05/09/just-another-day-at-crisis-fc/

[The Gasman]

6 hours ago, jambovambo said:

“Dave King, here, openly admitting that Rangers are in the appeals process after being rejected for a UEFA Licence for next season“ - Richard Wilson

 

 

Suggestions on Twitter sevco having trouble getting go ahead for Europe next year. 

 

Does this have to be resolved by the end of the season (ie Sunday lunchtime) or is the cut off into the closed season?

[Eldar Hadzimehmedovic]

21 hours ago, Mr Sifter said:

Thread here covers the full transcript of Kings conference...and ra berrs reaction. An interesting read, the majority of them know King is full of shite, Gerrard or not.

 

http://forum.rangersmedia.co.uk/topic/315732-dave-king-full-qa/

 

I have to admit, there's something really funny about how they talk to each other on that board. I mean like genuinely funny, not laughing at them.

 

"Ban those 2 full quote pricks"

 

[cannonfoda]

7 hours ago, RobNox said:

https://philmacgiollabhain.ie/2018/05/09/just-another-day-at-crisis-fc/

Can anyone actually read that?  It reads like a chat bot failing the turing test.  

 

 

[tntjambo]

12 hours ago, jambovambo said:

https://philmacgiollabhain.ie/2018/05/08/rugger-guy-looks-closely-at-mr-kings-latest-move/

 

i get it know so the GASL is delaying tactic with the TOP is so he can pick the pockets of the ORCS and raise doe without having to stump up any of his own cash, when are the SMSM going to pick up on the fact the man has no money and is a slippery con man?

[buzzbomb1958]

Meanwhile back at the asylum Mr Rooney looks for a move to a club who have money......no not the mighty Sevco but DC United of the MLS tee hee hee

[Footballfirst]

12 hours ago, jambovambo said:

“Dave King, here, openly admitting that Rangers are in the appeals process after being rejected for a UEFA Licence for next season“ - Richard Wilson

 

 

Suggestions on Twitter sevco having trouble getting go ahead for Europe next year. 

That Richard Wilson is a Celtic supporter, not the BBC reporter of that ilk. 

Edited May 9, 2018 by Footballfirst

[Hagar the Horrible]

That statement King made and ensured it was published AFTER he fled the country will have angered the City watch dogs.   King said he will take it under review.

 

but going back through this time line?  did he not act in concert to go over the 30% threshold before the vote to go for the share issue?

 

certainly he looks like he is going to push the rights offer before the TOP offer, is this not FRAUD???  OK its a football club and nobody cares that much about share price as the shares are emotional attachments, but the rules are in place to protect the small guy when this transfers into real  business,  The City cannot afford to let this continue, it would be international chaos?

 

Methinks he is using the rights issue to fund the TOP offer?   I can also see the city freeze bank accounts

[Hagar the Horrible]

You know what got me, is that Mad Dave King Joffrey said he only needed to win one League and Celtic (£25m in their skyrocket) would fall like a pack of cards?  When Romanov clearly tongue firmly in cheak was ridiculed by the media for joking about winning the champions league.  I think his own Hig Hoose would be as well as in the Leilani Estate Hawaii?

[jambovambo]

14 hours ago, jambovambo said:

“Dave King, here, openly admitting that Rangers are in the appeals process after being rejected for a UEFA Licence for next season“ - Richard Wilson

 

 

Suggestions on Twitter sevco having trouble getting go ahead for Europe next year. 

King might get away with this if it was only the SFA he was dealing with but it’s UEFA, the Takeover panel and the Courts. 

 

He’s at least one of badly advised, stupid or balls of steel-enabled. 

[CJGJ]

1 hour ago, jambovambo said:

King might get away with this if it was only the SFA he was dealing with but it’s UEFA, the Takeover panel and the Courts. 

 

He’s at least one of badly advised, stupid or balls of steel-enabled. 

Perhaps that £6 million is to aid this very point re access to Europe

[Footballfirst]

22 minutes ago, CJGJ said:

Perhaps that £6 million is to aid this very point re access to Europe

I'm almost certain that is the reason.

 

In the full text of the Q&A he was asked about the timescales. He answered "It will happen I would say definitely by the end of June", which coincidentally is one of UEFA's licence monitoring points. 

[NANOJAMBO]

5 hours ago, tntjambo said:

 

i get it know so the GASL is delaying tactic with the TOP is so he can pick the pockets of the ORCS and raise doe without having to stump up any of his own cash, when are the SMSM going to pick up on the fact the man has no money and is a slippery con man?

It's not going to work. He can't have the share issue to raise the £6M until/unless he satisfies the TOP first.  

[sadj]

6 minutes ago, NANOJAMBO said:

It's not going to work. He can't have the share issue to raise the £6M until/unless he satisfies the TOP first.  

Is there no way for him to get around that? He seems to say a lot in the Q&A , basically tough shit to the TOP as hes not a UK resident so he can do what he wants. Their rules aren’t enforceable on him and it wouldn’t affect Rangers its only him. 

[Hagar the Horrible]

9 minutes ago, NANOJAMBO said:

It's not going to work. He can't have the share issue to raise the £6M until/unless he satisfies the TOP first.  

You would think the SMSM would have a Journalist capable to asking this salient point to both him and confirm the rulings with the City and TOP.....Oh wait we do only they just repeat what is said.

1 minute ago, sadj said:

Is there no way for him to get around that? He seems to say a lot in the Q&A , basically tough shit to the TOP as hes not a UK resident so he can do what he wants. Their rules aren’t enforceable on him and it wouldn’t affect Rangers its only him. 

That was evident, but Letham and Park are not, and cold-shouldering Will affect them regradless, and despite the lies King said it will affect the club too

[sadj]

29 minutes ago, Hagar the Horrible said:

You would think the SMSM would have a Journalist capable to asking this salient point to both him and confirm the rulings with the City and TOP.....Oh wait we do only they just repeat what is said.

That was evident, but Letham and Park are not, and cold-shouldering Will affect them regradless, and despite the lies King said it will affect the club too

Thanks Hagar , So based on that then is it likely that he’ll flout it and issue the share issue? If so what happens then as that as I saw mentioned above would surely equate to fraud? I assume the reasoning behind the delay in the full transcript is if that was released whilst in the country he’d be leaving himself open to being arrested?

[Hagar the Horrible]

10 minutes ago, sadj said:

Thanks Hagar , So based on that then is it likely that he’ll flout it and issue the share issue? If so what happens then as that as I saw mentioned above would surely equate to fraud? I assume the reasoning behind the delay in the full transcript is if that was released whilst in the country he’d be leaving himself open to being arrested?

Not sure he has actually committed a crime yet, but he made sure he was skybourne before it was released thats for sure.  He certainly was grandstanding and drive-by name-calling to TOP and I suppose making sure he could not be arrested.  But he has shot the opening salvo goaded TOP, so its down to them now, lets see what teeth they do have.   Fraud is hard to prove even to somebody with 40+ convictions for it, and paid his way out of a custodial sentence.  I think he is acting for the best of the club in his mind, but he is juggling chainsaws right now, and when it all comes crashing down it will be every GASL for himself.