Nellie The Don Posted February 20, 2014 Share Posted February 20, 2014 The daily record are calling it a 'windfall'. Quote Link to comment Share on other sites More sharing options...
BigAl Posted February 20, 2014 Share Posted February 20, 2014 The daily record are calling it a 'windfall'. Deluded! Quote Link to comment Share on other sites More sharing options...
Tyrant Posted February 24, 2014 Share Posted February 24, 2014 Tremendous news! Quote Link to comment Share on other sites More sharing options...
mizer Posted February 24, 2014 Author Share Posted February 24, 2014 Says today it will cover them up to the 1st of Sept but has to be paid back by then. Quote Link to comment Share on other sites More sharing options...
Tyrant Posted February 24, 2014 Share Posted February 24, 2014 Says today it will cover them up to the 1st of Sept but has to be paid back by then. I read it wont be getting repaid. Not in cash anyway. Quote Link to comment Share on other sites More sharing options...
mizer Posted February 24, 2014 Author Share Posted February 24, 2014 I read it wont be getting repaid. Not in cash anyway. The Easdales Yes but the IOM hedgefund not confirmed and they have secured some hoose and carpark at Ibrox against the debt. Quote Link to comment Share on other sites More sharing options...
Tyrant Posted February 24, 2014 Share Posted February 24, 2014 The Easdales Yes but the IOM hedgefund not confirmed and they have secured some hoose and carpark at Ibrox against the debt. The Big Hoose? Quote Link to comment Share on other sites More sharing options...
tom_widdows Posted February 24, 2014 Share Posted February 24, 2014 Losing 1.2million a month yet a 1.5m loan will see them through til september? Quote Link to comment Share on other sites More sharing options...
mizer Posted February 24, 2014 Author Share Posted February 24, 2014 Losing 1.2million a month yet a 1.5m loan will see them through til september? I think they have factored in selling ST's from next month Quote Link to comment Share on other sites More sharing options...
Tyrant Posted February 24, 2014 Share Posted February 24, 2014 I think they have factored in selling ST's from next month They're leaving it later than usual to spend the following season's season ticket money are they not? Quote Link to comment Share on other sites More sharing options...
mizer Posted February 24, 2014 Author Share Posted February 24, 2014 They're leaving it later than usual to spend the following season's season ticket money are they not? Indeed, you know its only a matter of time Quote Link to comment Share on other sites More sharing options...
manc_don Posted February 25, 2014 Share Posted February 25, 2014 Tick tock http://www.bbc.co.uk/sport/0/football/26333152 Fingers crossed Quote Link to comment Share on other sites More sharing options...
Tyrant Posted February 25, 2014 Share Posted February 25, 2014 Fuck it. Let's all ride the rollercoaster again! Quote Link to comment Share on other sites More sharing options...
BigAl Posted February 25, 2014 Share Posted February 25, 2014 Lets hope that his Lordship doesn't "rubber" ear this appeal I for one would be left feeling "deflated" if he did Quote Link to comment Share on other sites More sharing options...
Dandy_Don Posted February 25, 2014 Share Posted February 25, 2014 Fuck it. Let's all ride the rollercoaster again! More like the Party Bus Quote Link to comment Share on other sites More sharing options...
Nellie The Don Posted February 26, 2014 Share Posted February 26, 2014 http://www.bbc.co.uk/sport/0/football/26358424 Rangers: Dave King urges fans' boycott of season tickets Former director Dave King has urged Rangers' fans to withhold season ticket money until they receive assurances about the League One club's future. The South Africa-based businessman is concerned about the implications of the club announcing last week that they are to borrow £1.5m from two shareholders. King said his own offer to put fresh investment into Rangers was rejected. "My assessment is that the business is not commercially sustainable in the short term," he said. Rangers chief executive Graham Wallace last week insisted that the club were not under threat of a second period in administration before this week confirming the loans from Sandy Easdale and Laxey Partners Ltd. “If we cut our costs to suit our present income, we will remain a small club and Celtic will shoot through 10 in a row - and beyond - while we slug it out for the minor places” Dave King King said this proved that previous assurances that the club had sufficient funding to last the season were untrue and indicated "the desperate financial position that the club is in". "This lack of transparency on the present and projected funding position is extremely worrying," he said in a statement. "The fans have no proper insight into the owners of the club and who represents which shareholders on the board. "The board has strenuously resisted any attempt by the fans to find out who key shareholders are. What is known is that the current board members have a very minor stake in the club." Rangers fans' groups last week wrote to the board seeking assurances about the Ibrox club's future. Now King has proposed that they only buy season tickets into a trust and only pass the money to the club on a "pay-as-they-play" basis or as security against the club's property and should insist on a representative on the board. "In that way, the fans will have some protection from a future event of failure if the board cannot bridge the funding gap that clearly exists," he said. King argued that Rangers requires "a level of soft investment" from people more interested in success off the field than on a financial return. "I have been such an investor and want to be so again," he said. "I would like to lead a fan-based initiative to acquire an influential shareholding in the club. "I had hoped to serve as a bridge between non-aligned stakeholders and the club, as well as seeking a way forward that could accommodate all interests. "I no longer believe that I can achieve this with the board that is presently in place. Rangers chairman David Somers “I have been in email correspondence with Mr King and suggested that, even though he is not a current shareholder, I would be interested in hearing any proposals he might have” David Somers Rangers chairman "During this period, I made it clear to the board that I am a potential source of funding by way of a new capital injection. "My prime condition is that any funds introduced by me would go into the club for the benefit of the team and the dilapidating infrastructure." Rangers manager Ally McCoist this week admitted that his squad building plans were on hold while his chief executive concentrated on what King described as "cutting costs to match the income". "It is correct that any club must, over the long term, operate within its means, but in the short term, Rangers needs a significant once-off financial boost that cannot be met from the current revenue stream," said the former director. "Without this, we will not get back to where we should be." King thought that "right-sizing" the club would hand many more titles to Glasgow rivals Celtic even once Rangers return to the top flight. "If we cut our costs to suit our present income, we will remain a small club and Celtic will shoot through 10 in a row - and beyond - while we slug it out for the minor places," he said. Rangers chairman David Somers rejected suggestions that King had offered the club an interest-free loan, such had been made by Easdale. "I have been in email correspondence with Mr King and suggested that, even though he is not a current shareholder, I would be interested in hearing any proposals he might have," Somers said in a statement on the club website. "Mr King replied and indicated a willingness to consider participating in any future equity issue that the club might undertake. "This has been the extent of the discussion and I repeat that no offer of an interest-free loan has been received from Mr King, or anyone else, apart from Mr Sandy Easdale." Quote Link to comment Share on other sites More sharing options...
tom_widdows Posted February 27, 2014 Share Posted February 27, 2014 Supposedly a group of rangers supporters clubs have put forward the suggestion of Dave King setting up a trust for them to pay their season ticket money into with it being released when the current rangers board comply with certain things. That's Dave 'straight as the day is long' King. A man who can always be trusted when it comes to money. First Whyte, then Green and now its King they are throwing their blinkered support behind. The word Masochists springs to mind Edit: Wow I wasn't imagining it http://www.bbc.co.uk/sport/0/football/26366511 A coalition of Rangers fans has backed former Ibrox director Dave King over his statement on the club's future. King has urged supporters to withhold season ticket money until they receive assurances about the League One outfit. A statement from the Union of Fans said they support placing season ticket money in a trust to be released to the club on agreed terms. "We cannot doubt the intentions of one of our own who has previously committed £20m to the club we love," they said. The Union of Fans, which includes six Rangers supporters' groups, has established a website where fans can sign up and indicate their support for the idea. The group says "events over the past few days have left us deeply concerned, once again, about the direction our club is being taken in". It also criticised the club's recent decision to borrow £1.5m of working capital from the company's own shareholders. "We have waited patiently, as requested by [chief executive] Graham Wallace, to see progress as part of his 120-day review, but feel that the latest decision from the board, to line the pockets of shareholders who showed a total disregard for the wishes of fans at the recent AGM, is yet another kick in the teeth," the group said in their statement. "We do not believe that taking a short-term loan, at both an inflated rate and securitised against club assets, is addressing the need for a long-term solution and urgent investment, and we have seen nothing to suggest this is part of a robust long-term plan." The statement also called upon King to establish a mechanism for fans to withhold their season ticket money, although stopped short of a full season ticket boycott. The statement continued: "We have no confidence in the current board and would ask Dave King, following his statement yesterday, to set up a trust where fans can place our season ticket money to be released to the club on agreed terms. "We would also ask him to lobby all non-aligned shareholders and form a new Shareholders Group to challenge the anonymous shareholders behind Blue Pitch Holdings and Margarita, then take control of the board." Craig Houston, of the Sons of Struth, told BBC Scotland that supporters were keen for King to become involved. "The fans see him as the knight coming over the hill to help," said Houston. The Sons of Struth describes itself as "a body of like-minded Rangers fans who hold dear the values of" former manager Bill Struth and claims to have the backing of most of the club's supporters groups. King is concerned about the implications of the club announcing last week that they are to borrow £1.5m from two shareholders. The South African-based businessman said his own offer to put fresh investment into Rangers was rejected. Houston said supporters were seeking greater transparency from the current Ibrox board, adding that King's input would be welcome. "A lot of fans, the feedback we're getting is that it sat nicely with their thoughts and views," Houston told BBC Scotland. "It was a good statement and very hard-hitting; there's not a lot you can disagree with. "There's been a lot of cry outs for Dave King to get involved and speak out." Rangers chief executive Graham Wallace last week insisted that the club were not under threat of a second period in administration before this week confirming the loans from Sandy Easdale and Laxey Partners Ltd. Quote Link to comment Share on other sites More sharing options...
mizer Posted February 27, 2014 Author Share Posted February 27, 2014 Quote Link to comment Share on other sites More sharing options...
Nellie The Don Posted February 27, 2014 Share Posted February 27, 2014 :rofl: :rofl: History repeating itself. http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4400806/Tom-first-to-stump-up-money.html Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted March 2, 2014 Share Posted March 2, 2014 Wednesday could be a good day if reports are accurate. Quote Link to comment Share on other sites More sharing options...
Jute Posted March 2, 2014 Share Posted March 2, 2014 Wednesday could be a good day if reports are accurate. Spokesman from The Rangers denying it but Rangers deceased did the same about administration and then liquidation before they happened. Hopefully same outcome for the tribute act as well. Quote Link to comment Share on other sites More sharing options...
Mentorred Posted March 3, 2014 Share Posted March 3, 2014 yeah some celtic fans mentioning this about wednesday too.. .so like whats happening.. This was on twitter alex thomson ?@alextomo · Mar 2 Rangers to go into Administration on Wednesday? At least one senior Glasgow accountant is saying so tonight. Quote Link to comment Share on other sites More sharing options...
Superstar Tradesman Posted March 4, 2014 Share Posted March 4, 2014 :rofl: Oh please let it be true :thumbsup: Aberdeen hopefully wins 2 cups, gets into Europe and rankgers /sevco go bust again! :thumbsup: :rofl: :rofl: Armageddon indeed. Quote Link to comment Share on other sites More sharing options...
Aberdeen_Ladette Posted March 12, 2014 Share Posted March 12, 2014 It appears that Sleekit Sally's days are numbered at iBrokes as the zombies are becoming restless after the Albion Rovers result, and even the weegie MSM are getting brave enough to print negative reports about him. A rumoured (contracted) £1 Million pay off seems to be why he hasn't walked away, however he may soon be telt tae "git tae fuck" (? resulting in an SFA warning to 'mind your language' ( ) when Albion win the replay. PR guy Jack Irvine left yesterday "by mutual consent", and (Lying) King has flown in from South Africa to encourage ST Holders to put money in an account for next season and then basically pay at the gate. As far as I'm aware the UTT appeal is ongoing (must have missed the daily reports in the MSM), the 120 day review continues with no obvious cuts in outgoings apart from Irvine, and Sevco accounts remain overdue. They should, however, win League 1 tomorrow unbeaten. What an achievement for a squad of over 55 full time professional footballers; the team with the second highest player wage budget in Scottish Football, against part timers who rush from a days work as a Plummer, labourer, Asda worker or even taxman to play mid week games. #TickTock Quote Link to comment Share on other sites More sharing options...
CtS Posted March 12, 2014 Share Posted March 12, 2014 Plummer? Quote Link to comment Share on other sites More sharing options...
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