aDONisSheep Posted September 4, 2014 Share Posted September 4, 2014 So why is no one investing and Rangers are having to sell more and more shares then? I'm not quite sure what you mean? In a plc the vehicle for investing is through buying shares? We're about to find out if there is an appetite for an additional £4m worth. We do know that they have had £1.5m of soft loans from shareholders (other clubs such as my very own Aberdeen have done similar stuff several times). We also know that the last time they went to the city they secured circa £22m of investment, and they have circa 30,000 to 40,000 people turn up every other week. I don't think they'll be liquidated, because I believe there is going concern business in there. What they need to do restructure their operating costs (which if worst comes to worst can be done by any administrators via the administration process). Much though I would love to see the new club go tits-up like the old club. I'm afraid it's just wishful thinking. Yours aDONis 0 Quote Link to comment Share on other sites More sharing options...
Bing (2) Posted September 4, 2014 Share Posted September 4, 2014 Possibly my final post of today.I think we're all getting ahead of ourselves with discussing what happens if NewRangers gets liquidated. The new club is in a vastly different position financially from the old club.The old club was riddled with debts (and a massive contingent liability) primarily to the tax-man and a factoring agency. The new club (as far as I can tell) has liabilities to a couple of individuals and creditors. In addition, these liabilities are but chicken-feed in comparison to the Tax and Contingent Liabilities the old club had.If administration happens (and I think it's only 50:50 anyway). The new club is a much more viable investment than the old one.I think the chances of liquidation are negligible.YoursaDONis The old club was indeed riddled with debt, and as it was a single entity, the liquidation is under way. Prior to that though, the assets were sold off, ie all that makes the bearz think of as 'continuity'. This time round though, the assets are not linked to the Club. The Club owes the Company 'everything'. It is an enjoyable journey ahead 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted September 4, 2014 Share Posted September 4, 2014 Not according to rumour ... If the club company continues trading under the THE RANGERS FC and using the brand then the contracts will survive even liquidation. However .. there's always Glasgow Cheats FC. Only liquidation may remove the onerous contracts though ... Lol.... 0 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted September 4, 2014 Share Posted September 4, 2014 The old club was indeed riddled with debt, and as it was a single entity, the liquidation is under way. Prior to that though, the assets were sold off, ie all that makes the bearz think of as 'continuity'. This time round though, the assets are not linked to the Club. The Club owes the Company 'everything'. It is an enjoyable journey ahead I thought the same as you at one point, but on reading their accounts, it is clear that TRFC Ltd bought the assets from the DeadClub and no transfer had taken place from subsidiary to parent. So the assets still sit with the club/operating company/TRFC Ltd (they are all one and the same). Yours aDONis 0 Quote Link to comment Share on other sites More sharing options...
Karpaty Posted September 4, 2014 Share Posted September 4, 2014 I'm not quite sure what you mean? In a plc the vehicle for investing is through buying shares? We're about to find out if there is an appetite for an additional £4m worth. We do know that they have had £1.5m of soft loans from shareholders (other clubs such as my very own Aberdeen have done similar stuff several times). We also know that the last time they went to the city they secured circa £22m of investment, and they have circa 30,000 to 40,000 people turn up every other week. I don't think they'll be liquidated, because I believe there is going concern business in there. What they need to do restructure their operating costs (which if worst comes to worst can be done by any administrators via the administration process). Much though I would love to see the new club go tits-up like the old club. I'm afraid it's just wishful thinking. Yours aDONis You said the new club are more viable than the old one, I agree, but then surely it's easier to steady the ship now rather than later? I reckon Dave King will step in when the £4m isn't raised and Rangers are hours from administration and invest his way. But why wait all that time, he could have came in months ago and set up a structure re operation costs and such like whereas if he invests now, surely he's wasting a lot more of his own money than he would have when he had his chance. Then there's Mike Ashley in the background holding contracts over Rangers. The whole thing is a complete joke. They better escape the administration and the subsequent 25 point deduction because Hearts will run away with that league and we all know Rangers are bottle merchants when it comes to one/two off games. 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted September 4, 2014 Share Posted September 4, 2014 Yes it does. It could be sold lock-stock and barrell, but It could also be broken up before being sold. Yours aDONis So if it is sold lock stock and barrel then all contracts remain intact and you wasted all that time trying to correct my conjecture? 0 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted September 4, 2014 Share Posted September 4, 2014 So if it is sold lock stock and barrel then all contracts remain intact and you wasted all that time trying to correct my conjecture? My apologies if that was the case. Confusion probably stems from my belief that it will be a voluntry re-structure/administration and that TRFC Ltd will be put into admin, rather than the overarching group/holding company. Yours aDONis 0 Quote Link to comment Share on other sites More sharing options...
Karpaty Posted September 4, 2014 Share Posted September 4, 2014 He's already stated he will not invest until he sees the books and he's certainly not going to invest any of his money without an administration process. He's tried raising the money (investments) via the City already to 'buy' the club but nobody was interested. Sale and leaseback will happen with the current spivs long before they hand over the reins to DK ... The spivs are already shown they are strapped in for the long ride ... I don't want it, but thanks 0 Quote Link to comment Share on other sites More sharing options...
aofjays Posted September 4, 2014 Share Posted September 4, 2014 So if it is sold lock stock and barrel then all contracts remain intact and you wasted all that time trying to correct my conjecture? Wasted time? If he was worried about that I doubt he'd be here. 0 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted September 4, 2014 Share Posted September 4, 2014 Wasted time? If he was worried about that I doubt he'd be here. Quite so, I'm only at work after all? 0 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted September 4, 2014 Share Posted September 4, 2014 Which is great news ... points deduction and at least another year in the wilderness with the assets transferred to the spivs/creditors as per their pet administrators ... Let the sale and leaseback commence. I agree, but yet I don't understand why this wasn't one of the first things they (the spivs) did? I think their window of opportunity is for doing it is shrinking. But I still see there being a separation of Assets from Operations as being the end game. Yours aDONis 0 Quote Link to comment Share on other sites More sharing options...
TheTaxMan Posted September 4, 2014 Share Posted September 4, 2014 Sold to a third party. 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted September 4, 2014 Share Posted September 4, 2014 My apologies if that was the case. Confusion probably stems from my belief that it will be a voluntry re-structure/administration and that TRFC Ltd will be put into admin, rather than the overarching group/holding company. Yours aDONis No need for apologies. It was conjecture anyway. I believe that the current Rangers set up was built to fail. I believe that we are, just now, seeing the plan coming to a head. I believe we will see Rangers becoming a skeleton of a club, no property, no assets, just a team with a spurious history. That may just be a pipe dream but given the characters, the lies and the whole way that things have panned out so far I am probably way off, it's probably much worse for Rangers fans than we could ever hope for. One thing us certain though, the fans will be paying the spiv's party planners for as long as the spivs can think of excuses to garner cash. 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted September 4, 2014 Share Posted September 4, 2014 I've no idea either unless they feared the bears would not turn up and they couldn't raise all that lovely money from gullible share investors via the IPO. That was probably a bonus as they've milked that cash well and truly. I've also no idea why, when GW suggested admin, they let the February window pass as a points deduction then made little difference. Maybe they cannot agree how to divvy up the spoils once they push the panic button? Maybe Imran Ahmad is the fall guy this time? His move to ringfence could force administration. Maybe this was the plan all along? 0 Quote Link to comment Share on other sites More sharing options...
Hipster Dufus Posted September 4, 2014 Share Posted September 4, 2014 I enjoyed the analogy from Kincardine (and other fans) of how The Rangers were actually still the same Rangers much like Rolls Royce were the same Rolls Royce after their 1971 financial difficulties.Now. I can't wait to hear which iconic company / brand died twice but is still the same..... 0 Quote Link to comment Share on other sites More sharing options...
pansjambo Posted September 4, 2014 Share Posted September 4, 2014 Poundland The three gas lighter arena 0 Quote Link to comment Share on other sites More sharing options...
K Dodd Posted September 4, 2014 Share Posted September 4, 2014 The Pounded into The Dirt Arena 0 Quote Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted September 4, 2014 Share Posted September 4, 2014 Sports socks arena. 3 furra poun' 0 Quote Link to comment Share on other sites More sharing options...
K Dodd Posted September 4, 2014 Share Posted September 4, 2014 On a more serious note. f**k them, they desrve everthing they get. Dignity my arse. 0 Quote Link to comment Share on other sites More sharing options...
K Dodd Posted September 4, 2014 Share Posted September 4, 2014 The you've been screwed over again and still don't realise it arena. 0 Quote Link to comment Share on other sites More sharing options...
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