sjc Posted April 3, 2015 Share Posted April 3, 2015 The statement about the NOMAD basically says. The people are fit and proper but the company has failed the due diligence. Surely King and Co could not have written this better to set up an insolvency event. "See, we ARE the good guys but the bad boys have killed the club/company" Wouldn't Mike Ashley hold all the aces if this happened by being the biggest Creditor? 0 Quote Link to comment Share on other sites More sharing options...
Gaz Posted April 3, 2015 Share Posted April 3, 2015 If that's the case then it's absolutely f*cking vulgar. Not one single lesson learnt this last three years. You spelled "hilarious" wrong. 0 Quote Link to comment Share on other sites More sharing options...
FinnesTON Posted April 3, 2015 Share Posted April 3, 2015 We don't know how creative the accountants were when they did any audit for Sevco since it's inception. So far they have managed to balance or cook the books enough to make it look better than things really are. I did chuckle at the interim numbers at first and thought that's definitely not correct and did some number crunching of my own. They must be close to what is projected because Tedi the master accountant hasn't posted "pish and made up shite" yet. I see others have nor and JJJS have mirrored what I have said in the past and no doubt its an almost universal opinion Sevconian delusion. But just to show that what we are talking about you only have to look at their nearest rivals Celtic were a mess financially when the Bunnet took over but he explained everything he was going to do, to get you back on an even keel, new stadium but you will know more than me about the details but it was a pragmatic response and the supporters dutifully bought into it , that model is still prevalent, although the actions at Rangers were the for every £5 we'll spend a £10 therein lays the rub McCann would only spend a £5 if he had it and was an investment where Minty spent somone else's £10 just to GIRUY sort of thing. This is the model they crave not the sensibilities of McCann but that of the Moonbeams, the reincarnation Chuckie had a less than glorious reputation and 'leopards don't change their spots' ( that saying should be inscribed on the marble staircase of the Big Hoose because everyone who has walked through that door has acted to type) Sheffield United supports were emphatic about him, sadly they to were 'the enemy' 'timmy' or 'diddy team.' (Better include Ann Budge at Hearts or Stewart Milne at the Dons of doing equally good jobs ………. don't want to be accused and a silent'h' suddenly appearing in any replies to my posts.) I expect PM and DK will use the same tactics of paranoia and conspiracy against the Establishment club they already have and are now rewriting history but LLamblas was right in his parting shot who is the Nomad and where is the money MrKing ? And would one not follow the other the city like money,they nurture it, watch it grow, they like people who make it grow, the faster and bigger the money tree grows the more they like it and persons responsible. So if DK had the money they'd be still in there. Unlike Sevco the city is not about the past but present and future. What other business thinks reliant on its customer base to make money is good ? They continually talk about new markets, about growth potential, profile of the business, investment from other sources. So given those figures I believe they are right and highlights where the £70m went on an operation that is frankly too big, too expensive and too entrenched to change. We can blame the 'spivs' but they are subject to change the real problem appears to be the expectation of the business customer base. 0 Quote Link to comment Share on other sites More sharing options...
adundeemonkey Posted April 3, 2015 Share Posted April 3, 2015 Will be fun seeing the SFA waving shameless Dave through as a FAPP after the first thing he has done is openly deceive the support by lying about a NOMAD. 0 Quote Link to comment Share on other sites More sharing options...
FinnesTON Posted April 3, 2015 Share Posted April 3, 2015 The nomad stuff is an interesting development. I won't pretend to know what sort of material impact it might have, but from reading the views of others with some knowledge, it would appear to be not a lot. However, the psychological effect does look significant. We seem to have a situation where King's claim to have had a nomad lined up, looks dubious. We also may have a situation where no great effort to secure a nomad was made, because not having one was always King's preferred option. Either way, it's surely not good for Rangers. Transparency is lacking and I'd be anxious about the desire of someone like King, to operate in a less regulated environment. The 'good guys' have explaining to do. As you said it allows King to make decisions without public disclosure, say he loans them some money until the end of the season he could secure it against the stadium without divulging it. So for the gullible readers you'd have to rely on a whistleblower but if you were a publicly traded Co. those details would be announced. Not being on the AIM leaves you open to the very thing that triggered the requisiters. Then honest Dave is a RRM and not like you'll need the money. 0 Quote Link to comment Share on other sites More sharing options...
Dr Koop Posted April 3, 2015 Share Posted April 3, 2015 Will be fun seeing the SFA waving shameless Dave through as a FAPP after the first thing he has done is openly deceive the support by lying about a NOMAD. That's what the SFA does. One eye on commercial interests while pissing over its other obligations and taking a great big dump on the poor schmucks who were asking for it when they invested in newco (right, Tedi?). Still, it's Easter. The time of rebirth and miracles. Roll away the stone and, hey, the body has gone. Look, what is that vision of a glib and shameless liar, saved from the grave and bathed in the light of SFA double standards? 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted April 3, 2015 Share Posted April 3, 2015 (edited) It truly is amazing you know. Since gaining power, there's been virtually no sign of activity from the new regime at all. In fact all they've really done is appoint Chris Graham and manage to get de-listed. How, seriously how, does this club keep finding new and imaginative ways to entertain us so? It's ingenious - it really is. Edited April 3, 2015 by Monkey Tennis 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted April 3, 2015 Share Posted April 3, 2015 The way that the new bosses are dealing with the old bosses' malfeasance is fairly interesting, I'd say. There are at least two ways that King & Co can deal with the previous regime's looting, and these are: 1) Comprehensive review of the books; make everything public then try to move on or 2) Comprehensive review of the books, then drip-feed horror stories into the press as and when they're helpful in mitigating ongoing bad news stories. In that context, I notice that this week's hilarious financials were accompanied by a lot of screeching and handbag-clutching about the terms of the Newcastle loan players deal. Who knows, maybe King et al will stop this and just release all the bad news in one go, then get on with it. If they're still drip-dripping tales of woe to the press by this time next month though, you'll know that they're all at it. 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted April 3, 2015 Share Posted April 3, 2015 (edited) Well the good news is Ashley is out and has no influence at rangers... ..Rangers Retail can be fully acquired at any time by Sports Direct . https://mobile.twitter.com/Barcabhoy1/status/583949383047258113/photo/1 Edited April 3, 2015 by THE KING 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted April 3, 2015 Share Posted April 3, 2015 When is the next big "lolzfest" due and how many sleeps? It might be this. RIFC is now showing on the ISDX but still suspended I don't know if they are there on probation awaiting DD . ISDX used to bethe PLUS exchange but suffered financial problems and was eventually sold for a 'nominal sum' i.e. a quid. Does that remind you of anything? 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted April 3, 2015 Share Posted April 3, 2015 When is the next big "lolzfest" due and how many sleeps? Don't try to second guess it. Just pull up a chair and await with eager anticipation. They'll think of something. 0 Quote Link to comment Share on other sites More sharing options...
FinnesTON Posted April 3, 2015 Share Posted April 3, 2015 It might be this. RIFC is now showing on the ISDX but still suspended I don't know if they are there on probation awaiting DD . ISDX used to bethe PLUS exchange but suffered financial problems and was eventually sold for a 'nominal sum' i.e. a quid. Does that remind you of anything? Sometime in May but Dhensboy showed something yesterday in a post about 12 months audited accounts and finances for the year ahead and they'd have to get a Nomad and there is a limitation on how much you can raise through a share issue. So and to use an unfortunate coin of phrase there would be plenty of hoops to jump through before that became a reality. 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted April 3, 2015 Share Posted April 3, 2015 It truly is amazing you know. Since gaining power, there's been virtually no sign of activity from the new regime at all. In fact all they've really done is appoint Chris Graham and manage to get de-listed. How, seriously how, does this club keep finding new and imaginative ways to entertain us so? It's ingenious - it really is. What should they have done since gaining power? Please detail facts, figures and timescales oh wise one.... 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted April 3, 2015 Share Posted April 3, 2015 If that's the case then it's absolutely f*cking vulgar. Not one single lesson learnt this last three years. If the QC says thats the case then that'll be the case. 0 Quote Link to comment Share on other sites More sharing options...
Pete's Frontier Posted April 3, 2015 Share Posted April 3, 2015 (edited) They are a toxic brand holed below decks with no credit and a cash burn of 900k a month, a fantasy, along with GASL's I have NOMAD lined up, they will be listed on any exchange. We're looking at a soon to be wound up entity. Edited April 3, 2015 by Pete's Frontier 0 Quote Link to comment Share on other sites More sharing options...
accietilleyedye Posted April 3, 2015 Share Posted April 3, 2015 (edited) What should they have done since gaining power? Please detail facts, figures and timescales oh wise one.... NOMAD in place SD £5 mil paid off and the securities back under the control of Rangers Announced a clear and precise business plan ,detail of what they were going to do to raise money , whilst showing how much money(DK and the 3 bears)they are willing to put on the table Had the SFA announce if Paul Murray and /or Dave King are fit and proper to be directors in any going football concern within Scotland That is the very least of what they should have had in place by now, that just addresses the major issues that should have been the first page of their so called plan, but as they don't seem to have had anything other than hopes and prayers for the NOMAD the rest of it is pure pipe dream stuff edit tidying typos Edited April 3, 2015 by accietilleyedye 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted April 3, 2015 Share Posted April 3, 2015 "They certainty would have survived under Ashley" OK let's see, well if it was proved that Rangers was operating 'under' Ashley then that would have breached the SFAs rules on dual ownership and Densboy thinks that would have been good ..... Would we have survived if Ashley had operated in his usual manner? See USC as an example..... Or is densboy once again reading blogs which he really doesn't understand and is relying on the blogger being competent and honest...... -1 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted April 3, 2015 Share Posted April 3, 2015 What should they have done since gaining power? Please detail facts, figures and timescales oh wise one.... I never claim any wisdom where financial matters are concerned dear Bennett. In fact I generally make a point of highlighting my ignorance in such a context. I think however that appointing the promised nomad within the allotted timescale should have happened. I also think that a rush to appoint someone such as Chris Graham to a director's role should have been avoided. I further think that more specifics about how they intend to run the club should by now, have been provided, rather than spin designed solely to discredit the last lot. 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted April 3, 2015 Share Posted April 3, 2015 NOMAD in place SD directs £5 mil paid off and the securities back under the control of Rangers Announced a clear and precise business plan ,detail of what they were going to do to raise money , whilst showing how much money(DK and the 3 bears)they are willing to put on the table Had the SFA announce if Paul Murray and /or Dave King and fit and proper to be directors in any going football concern within Scotland That is the very least of what they should have had in place by now, that just addresses the major issues that should have been the first page of their so called plan, but as they don't seem to have had anything other than hopes and prayers for the NOMAD the rest of it is pure pipe dream stuff So you think that the board can force the SFA to make announcements? I thought they'd have a business plan myself by......just noticed who I'm replying to, so I'll wait and see if anyone else wishes to discuss this. -1 Quote Link to comment Share on other sites More sharing options...
bennett Posted April 3, 2015 Share Posted April 3, 2015 I never claim any wisdom where financial matters are concerned dear Bennett. In fact I generally make a point of highlighting my ignorance in such a context. I think however that appointing the promised nomad within the allotted timescale should have happened. I also think that a rush to appoint someone such as Chris Graham to a director's role should have been avoided. I further think that more specifics about how they intend to run the club should by now, have been provided, rather than spin designed solely to discredit the last lot. The nomad thing was botched, they should have waited until they had a look at the books/the true state of the club before making such a claim. A bit of bravado perhaps but its bitten them on the backside now, it should have been worded more carefully. They also need to (IMO) provide the relevant proof that backs up their claims regarding nomads and aim regs. I'm prepared to give them more time regarding business plans and such, holds ups with fit and proper.... The SFA, various onerous contracts will take a while to clear up ( I'd guess) The last lot discredited themselves and three years of mismanagement will take a while to clear up but we could blame it all on Paul Murray I suppose. 0 Quote Link to comment Share on other sites More sharing options...
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