stonedsailor Posted January 7, 2015 Share Posted January 7, 2015 Is it not the case that any creditor can approach a court and force administration? Could this attempted power grab see Ashley so pissed off that he goes to court showing that Rangers are a financial basket case and ask the court to appoint administrators to bring Rangers financial dealings back on track? 0 Quote Link to comment Share on other sites More sharing options...
Ned Nederlander Posted January 7, 2015 Share Posted January 7, 2015 those running the club did all the damage themselves by continually squandering the hard earned money given in good faith by their customers Did you mean those running the club did all the damage themselves by continually squandering the money given by the company !? 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted January 7, 2015 Share Posted January 7, 2015 So many way he can do it Stoney ... but you are right. He is only a shareholder and a creditor after all. How much is owed out to those who wield the power at the moment? What are the terms of those loans? How much would any incoming regime have to fork out paying off loans? And that is after having to buy up enough shares to grab power! The spivs have sewn the fucker right up. 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted January 7, 2015 Share Posted January 7, 2015 It's on the spit roast and coming along nicely .... Raise 6.5M in a share issue, watch it evaporate paying off loans. Install a new board, watch more money flow away down the drain paying off the exiting board. This is fucking glorious, and the teddys are seeing a new dawn. 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted January 7, 2015 Author Share Posted January 7, 2015 MA will have no fears in going via admin ... he holds everything that is dear to them ... Seems to me the only two things most of them hold dear are the 5 tarnished stars sewn above a liquidated club's crest and memories from the good old days when only Scottish proddies were signed. 0 Quote Link to comment Share on other sites More sharing options...
Forever Diamond Posted January 7, 2015 Share Posted January 7, 2015 Seems to me the only two things most of them hold dear are the 5 tarnished stars sewn above a liquidated club's crest and memories from the good old days when only Scottish proddies were signed. Sadly that is the most true thing about this whole situation. Offer to remove their debt, and have a decent side to challenge for the Premiership title,and regular long spells in Europe but only if they give up the 5 stars and the pretence of still being the old club,and I bet you many of them would say no way. 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted January 7, 2015 Share Posted January 7, 2015 I was rather referring to the significance this saga clearly means to you and how much time spent as a preoccupation it must expend. There are plenty of others on here but I think that you do stand out as the Uberfan when it comes to bitching about the Gers, reckon that's some accolade given the company you're in. There is an old saying "Don't sh*t on people on the way up, you might meet them on the way down". Rangers sh*t on people as they rose through the ranks right from the days of utter crap they were under John Greig From their lofty perch they continued to sh*t at every opportunity on everyone below them. Even after they were found out to be frauds, they continued to try to crap on everyone else without realising the perch had plummeted to the bottom of Scottish football. OK? Got the idea? 0 Quote Link to comment Share on other sites More sharing options...
nsr Posted January 7, 2015 Share Posted January 7, 2015 Sadly that is the most true thing about this whole situation. Offer to remove their debt, and have a decent side to challenge for the Premiership title,and regular long spells in Europe but only if they give up the 5 stars and the pretence of still being the old club,and I bet you many of them would say no way. Exactly, it's all about the oneupmanship over their ugly sisters. Take away the 5 stars and the history and that contest is lost forever. 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted January 7, 2015 Share Posted January 7, 2015 Ashley has under 10% and can't increase that. He has £3m of loans with securities He has retail deals in place, which may or may not have to remain. I'm not an expert like you are but going on the available evidence it looks like Ashley (thanks to the SFA) may not be as strong as some people think he is. You say Ashley can't increase his shareholding above 10%. Well he can. But of course what will happen if he does is to get the SFA on his case. The SFA can't stop him buying more shares. That would create all sorts of significant legal problems for the SFA. What they can do is respond in some way through the club licence. But what would the SFA do? Ban Ashley? Fine him? Disqualify him? Revoke the Rangers licence? There are no options that are easy for them. And any of them would be vigorously challenged I would guess. Some by Ashley, some by the Rangers fans. If it ends up the SFA against Ashley it would be the SFA that would bottle it. 0 Quote Link to comment Share on other sites More sharing options...
saint john Posted January 7, 2015 Share Posted January 7, 2015 (edited) Are there any sanctions in place if Ashley did increase his shareholding, bearing in mind that there is no 10% rule anyway? Edited January 7, 2015 by saint john 0 Quote Link to comment Share on other sites More sharing options...
actonsheep Posted January 7, 2015 Share Posted January 7, 2015 Are there any sanctions in place if Ashley did increase his shareholding, bearing in mind that there is no 10% rule anyway? There is no 10% rule, but there is a dual interest rule. Ashley agreed with the SFA to keep his holding under 10% and the SFA agreed that this wouldn't be considered dual interest. If he goes over 10% then the dual interest rule does apply, and they can sanction the club accordingly. 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted January 7, 2015 Share Posted January 7, 2015 Seems to me the only two things most of them hold dear are the 5 tarnished stars sewn above a liquidated club's crest and memories from the good old days when only Scottish proddies were signed. I know you're no spring chicken but when was it when, "only Scottish proddies" were signed at Ibrox? I can remember Rangers going back to the 1960s and can't recall a time when we signed "only Scottish proddies" - not even the squad who went to Barcelona in 1972. 0 Quote Link to comment Share on other sites More sharing options...
Forever Diamond Posted January 7, 2015 Share Posted January 7, 2015 Well for those of you who trust in what Phil writes he said something interesting earlier on. Seems one of Ashleys people contacted the bank they use for Sports Directs business to establish a credit line for Sevco. The bank refused to take them on. So either Ashley is no longer putting in any of his own money,or he plans to be in this for the long haul after all. 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted January 7, 2015 Share Posted January 7, 2015 (edited) I don't think it's the right time for a "There wisnae a signing policy at Ibrox" deflectathon in the face of bad news, Kincardine. I did not deflect anything nor did I deny that there was an unwritten signing policy. I simply stated that I can't recall, looking back over about 50 years, Rangers signing, "only Scottish proddies". Also it makes us look like narrow-minded xenophobes which I object to since I clearly remember us signing plenty of Danish, Swedish, German, English and Irish proddies too. Obviously he didn't actually mean what he said, but you can't blame me for picking up on his factual error. Edited January 7, 2015 by The_Kincardine 0 Quote Link to comment Share on other sites More sharing options...
Ira Gaines Posted January 7, 2015 Share Posted January 7, 2015 The whole only signing proddies has been a total myth for a long time, has it not? 0 Quote Link to comment Share on other sites More sharing options...
Stag Nation Posted January 7, 2015 Share Posted January 7, 2015 Is it not the case that any creditor can approach a court and force administration? Could this attempted power grab see Ashley so pissed off that he goes to court showing that Rangers are a financial basket case and ask the court to appoint administrators to bring Rangers financial dealings back on track? They can't force administration unless the debtor defaults, which Rangers haven't (yet). In any case, Ashley's loans are secured against Edmiston House & the car park, so if they did default he'd get those and he'd have no cause to seek administration. 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted January 7, 2015 Share Posted January 7, 2015 The whole only signing proddies has been a total myth for a long time, has it not? It's not been the case that such a policy is observed for a long time, but it's certainly no myth that it once was. Anyway, back to the current crisis... 0 Quote Link to comment Share on other sites More sharing options...
Ira Gaines Posted January 7, 2015 Share Posted January 7, 2015 It's not been the case that such a policy is observed for a long time, but it's certainly no myth that it once was.Anyway, back to the current crisis... Aye, I know it once was. Just seems a bit weird that people bring it up now. 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted January 7, 2015 Share Posted January 7, 2015 Aye, I know it once was. Just seems a bit weird that people bring it up now. It was brought up by the father of this wonderful thread, with reference to an era he thinks many Rangers fans would like to return to. 0 Quote Link to comment Share on other sites More sharing options...
Ned Nederlander Posted January 7, 2015 Share Posted January 7, 2015 Unlike the same club myth which is in its infancy ... We actually need some sort of 'Mythbuster' thread to document the truth before the press & authorities spin stuff out of alignment For instance - I'm sure contract-stalling, money-grabbing, managerial dud Ally McCoist will soon be hailed as some sort of demigod in all this ! 0 Quote Link to comment Share on other sites More sharing options...
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