Karpaty Posted January 27, 2015 Share Posted January 27, 2015 So after Ashleys £3m loans from before and this months bills are paid (ie, now), the up front £5m is gone. When's the other £5m coming into play? Ashley couldn't be arsed talking to the SPFA for charges, gets it postponed and a day later loans Rangers another £10m, taking everything as assets apart from the stadium. The SPFA have allowed this. Think it's time the rest of the Scottish clubs got together because that's an disgrace. Anarchy. Might as well have no rules. 0 Quote Link to comment Share on other sites More sharing options...
Tio Pepe Posted January 27, 2015 Share Posted January 27, 2015 I gave up following this story ages ago so can someone do me a favour? Explain to me how if Mike Ashley is putting all this money into Rangers why its to his benefit if Rangers go under? If he has put millions of pounds in and the fans boycott the club or don't buy merchandise and the club collapses again how does Ashley come out of this in favourable terms? Because he has a charge over assets. They will be sold to meet the obligations to Ashley. 0 Quote Link to comment Share on other sites More sharing options...
kiddy Posted January 27, 2015 Share Posted January 27, 2015 He was after the trademarks, retail, training ground and only has to add one more physical asset to get the full 'big' house. All for 8.9% of the shares. 0 Quote Link to comment Share on other sites More sharing options...
RedRob72 Posted January 27, 2015 Share Posted January 27, 2015 I think most of us realise that at some point there will be a team playing out of Ibrox who will be finishing near, and eventually at, the top of Scottish football and the posturing and swagger from the supporters of that team will blitz the arrogance that the built the levels of Shadenfreude that we're seeing just now. (Some will argue that no matter what 'Rangers' do their 'friends' will ensure that happens.) The irony is, of course,(and I'm sure it's not lost on you) that 'Rangers' could have come out of this absolutely stinking rich, with a young but experienced team ripping up the leagues and providing the foundation of a cracking squad for many many years to come. It's fucking hilarious from the outside that they didn't! This whole saga will haunt the club/company for the rest of it's days though and opposing supporters will gleefully remind you of them - it will never ever really go away I think we have more pressing concerns at present that what opposing supporters will be chanting over the coming years. What's happened is gone now, why waste effort on something we cannot change. The whole new/dead/history etc.. argument seems more of a priority for our detractors. Let them get on with it. I've never once sat in the pub and said 'right lads are we sure we're still the same club eh'? or ' do you remember the first double winning year of 1928'? As you say, its setting the foundations again and building from there. I and thousands of other Bears would be happy to do just that and rid the club from those that are damaging the prospects of our future the most. 0 Quote Link to comment Share on other sites More sharing options...
Thistle_do_nicely Posted January 27, 2015 Share Posted January 27, 2015 (edited) Sure I've posted this before in here. Still as relevant. Bart - Rangers fans (or Mike Ashley, I suppose, depending on how you look at it) Barts frog - Rangers Barts disgusting abomination that he creates, begging for the sweet release of death - Rangers* edit: to carry it further - I guess Lisa is Ann Budge... Edited January 27, 2015 by Thistle_do_nicely 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted January 27, 2015 Share Posted January 27, 2015 I think we have more pressing concerns at present that what opposing supporters will be chanting over the coming years. What's happened is gone now, why waste effort on something we cannot change. The whole new/dead/history etc.. argument seems more of a priority for our detractors. Let them get on with it. I've never once sat in the pub and said 'right lads are we sure we're still the same club eh'? or ' do you remember the first double winning year of 1928'? As you say, its setting the foundations again and building from there. I and thousands of other Bears would be happy to do just that and rid the club from those that are damaging the prospects of our future the most. 20/20 hindsight is a wonderful thing. 0 Quote Link to comment Share on other sites More sharing options...
RedRob72 Posted January 27, 2015 Share Posted January 27, 2015 20/20 hindsight is a wonderful thing. Aye its nearly as easy as stating the obvious eh!? 0 Quote Link to comment Share on other sites More sharing options...
Rod Posted January 27, 2015 Share Posted January 27, 2015 Sure I've posted this before in here. Still as relevant. Bart - Rangers fans (or Mike Ashley, I suppose, depending on how you look at it) Barts disgusting abomination that he creates, begging for the sweet release of death - Rangers* You used a post-series 9 Simpsons quote. Your point is invalid. Amirite? 0 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted January 27, 2015 Share Posted January 27, 2015 Aye It's a really tough gig at the moment, there's very little available to argue back with on these pages in the current situation against an overwhelming majority who want to see us finished completely. Just when you think we can't fall any further we somehow do our level best to give you more easy ammunition. Resilience is tested to the core, it would with any football fan. I still firmly believe however we will eventually turn the corner, unite the support and take our club back. It could take another 5 years maybe 10 but I ain't going anywhere in the meantime. The fantastic support at Ibrox on Sunday for Ricksen showed we can still pull together, it's not too late to have a real go at it again. No one's going to do it for us. No, indeed. 0 Quote Link to comment Share on other sites More sharing options...
sonsanorak Posted January 27, 2015 Share Posted January 27, 2015 So does king and the 3bears have no further funds then? has ashley called their bluff? Seems to me that 5mill would have paid ashley off and paid the wages. 0 Quote Link to comment Share on other sites More sharing options...
kildog Posted January 27, 2015 Share Posted January 27, 2015 I think we have more pressing concerns at present that what opposing supporters will be chanting over the coming years. What's happened is gone now, why waste effort on something we cannot change. The whole new/dead/history etc.. argument seems more of a priority for our detractors. Let them get on with it. I've never once sat in the pub and said 'right lads are we sure we're still the same club eh'? or ' do you remember the first double winning year of 1928'? As you say, its setting the foundations again and building from there. I and thousands of other Bears would be happy to do just that and rid the club from those that are damaging the prospects of our future the most. Why do you care so much about Sevco?? Your old club is dead. Why are you all so keen to attach yourselves the abortion that is currently based at Ibrox??!? Through all of this, that's the part I really don't get. 0 Quote Link to comment Share on other sites More sharing options...
Tulloch Gorum Posted January 27, 2015 Share Posted January 27, 2015 I'm still convinced that the American boy was only there as a diversion, while Mike's legal men sorted out the finer detail of all that has happened in the background. Even the stooshie over Ibrox seems to have been a diversion. Mike Ashley has turned Rangers into Slazenger, and every other distressed brand that he bought into, brought down, took over, and will whore out for every penny it can bring him. I wouldn't even be surprised it he has used Rangers as a guinea pig in football terms. He pretty much owns the intellectual property rights. The name, the badge, and dare I say it the rights to commemorate their history. Will the fans walk away? Will they start their own club? Will they continue to pay him a dividend on absolutely everything that relates to Rangers and can be bought in a shop? Never thought I'd see the word "intellectual" in connection with Rangers 0 Quote Link to comment Share on other sites More sharing options...
ribzanelli Posted January 27, 2015 Share Posted January 27, 2015 Not too clear on the business speak so can anyone clear it up? Specifically, what's the deal with the £1.6m dividend and where does that cash come from (or is it a paper exercise) and what does the due diligence thing mean with regards to the second tranche of £5m? Does this all mean Ashley Sports Direct got their hands on everything bar Ibrox for £2m and don't even have to pony up the remaining £5m if they don't fancy it? Also, what about the two more directors for the duration of the loan, any significance in that? 0 Quote Link to comment Share on other sites More sharing options...
Double Jack D Posted January 27, 2015 Share Posted January 27, 2015 So does king and the 3bears have no further funds then? has ashley called their bluff? Seems to me that 5mill would have paid ashley off and paid the wages. Which would've sorted January, what would they do in February? 0 Quote Link to comment Share on other sites More sharing options...
sonsanorak Posted January 27, 2015 Share Posted January 27, 2015 Not too clear on the business speak so can anyone clear it up? Specifically, what's the deal with the £1.6m dividend and where does that cash come from (or is it a paper exercise) and what does the due diligence thing mean with regards to the second tranche of £5m? Does this all mean Ashley Sports Direct got their hands on everything bar Ibrox for £2m and don't even have to pony up the remaining £5m if they don't fancy it? Also, what about the two more directors for the duration of the loan, any significance in that? the 1.6 mill is the first of the sd/ashley profit i guess. The next 5 will indeed only be if sd/ashley think the club can/will pay it back. Not sure about 2 more directors, i took it to be a protection of the 2 he has already. As for feb pay, unless players leave voluntarily, that will need paid through further loans or a rise in incone i guess. 0 Quote Link to comment Share on other sites More sharing options...
RedRob72 Posted January 27, 2015 Share Posted January 27, 2015 (edited) Why do you care so much about Sevco?? Your old club is dead. Why are you all so keen to attach yourselves the abortion that is currently based at Ibrox??!? Through all of this, that's the part I really don't get. It's an often repeated quote ''we do not choose, we are chosen, those that don't understand don't matter, those that understand need no explanation''!! I am sure you would feel exactly the same if it was your club, Kilmarnock? You can't just switch off something that has played such a huge part in your life. The good stuff and the bad. Particular games, results, players, goals, experiences on far flung away trips, lifelong friends you've met along the way etc.. For the most part its been an incredible journey, not even the shambles of the last 3 years at the club can diminish it. Edited January 27, 2015 by RedRob72 0 Quote Link to comment Share on other sites More sharing options...
Podlie Posted January 27, 2015 Share Posted January 27, 2015 0 Quote Link to comment Share on other sites More sharing options...
Wee Bully Posted January 27, 2015 Share Posted January 27, 2015 Not too clear on the business speak so can anyone clear it up? Specifically, what's the deal with the £1.6m dividend and where does that cash come from (or is it a paper exercise) and what does the due diligence thing mean with regards to the second tranche of £5m? Does this all mean Ashley Sports Direct got their hands on everything bar Ibrox for £2m and don't even have to pony up the remaining £5m if they don't fancy it? Also, what about the two more directors for the duration of the loan, any significance in that? Basically as follows: Ashley loans £5m. There is a facility for another £5m "subject to due diligence". He gets security over all assets of the business other than Ibrox (which in an insolvency event is useless without all the other assets) £3m is immediately returned as repayment of the last loan. He then receives £1.6m back via dividends. So, in other words, he has spent £400k to get everything worth having. Lock, stock and barrel. And that is before taking into account the income from shirt sponsorship from 2017 onwards that is a sweetener to Ashley. This is breath-taking to watch. A true master at work -1 Quote Link to comment Share on other sites More sharing options...
ribzanelli Posted January 27, 2015 Share Posted January 27, 2015 the 1.6 mill is the first of the sd/ashley profit i guess. The next 5 will indeed only be if sd/ashley think the club can/will pay it back. Not sure about 2 more directors, i took it to be a protection of the 2 he has already. As for feb pay, unless players leave voluntarily, that will need paid through further loans or a rise in incone i guess. Cheers. The bold bit - I took it as 2 new directors as the BBC are reporting they will be chosen by Sports Direct (the current two were chosen by MA/what ever his company is called) and they are only on the board for the duration of the loan, I wouldn't think he wants the current two removed if/when the loan is paid back. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted January 27, 2015 Share Posted January 27, 2015 Looks like he probably was just flying a kite with regards to Ibrox. Now ra peeps are delighted at another screwing as long as it doesn't involve their beloved big hoose. As the poster above says, masterful. 0 Quote Link to comment Share on other sites More sharing options...
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