The_Kincardine Posted June 3, 2015 Share Posted June 3, 2015 Do you only post about other people posting(laughing) about Rang2rs? No. I have a hefty wager, though, that you post more about Rangers than I do! 0 Quote Link to comment Share on other sites More sharing options...
Kilbowie's Finest Posted June 3, 2015 Share Posted June 3, 2015 http://www.bbc.co.uk/sport/0/football/33001278 "The directors do not consider that, at this time, the repayment of £5m to Sports Direct is the best use of the company's resources," Same old Orcs, same old hubris. They refuse to pay, Ashley can simply go to court to instigate bankruptcy proceedings against Rangers - routine business practice over someone refusing to pay a bill. Rangers will then have to either:- 1. stump up to stop the case (which I doubt they've the money to do so with) 2. go into administration yet again to protect themselves, start the next season minus fifteen points, & can kiss goodbye to making the play offs, let alone winning the Championship - an event which would cast serious doubt on them getting back into the Premiership for a long time to come, if at all, as their remaining fans will desert in droves for glorying hunting pastures new, and no one with serious money will want to invest a penny in such a basket case. 0 Quote Link to comment Share on other sites More sharing options...
nsr Posted June 3, 2015 Share Posted June 3, 2015 I post very little about Rangers. The Rangers, on the other hand... 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted June 3, 2015 Share Posted June 3, 2015 Join in Kinky. We aren't too snobby to ignore you. Always happy to chat to you, Gav. You ken this. 0 Quote Link to comment Share on other sites More sharing options...
Thumper Posted June 3, 2015 Share Posted June 3, 2015 How the hell does this work for Mike then? He's basically signed a loan of £5M and no repayment date? That sounds way too stupid for a man of his calibre. He's up to something That's the general consensus. None of us mere mortals have figured out quite what it is though. As-is, the shareholders seem quite entitled simply to vote down any notion of repayment, though of course this means Ashley retains his increased holding of the retail wing (and I wouldn't be surprised if selling raging bigots t-shirts with "KING BILLY" custom printed on the back weren't a far more reliable revenue generator than the XI right now). 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted June 3, 2015 Share Posted June 3, 2015 How the hell does this work for Mike then? He's basically signed a loan of £5M and no repayment date? That sounds way too stupid for a man of his calibre. He's up to something Tis a puzzler, all day can I think of is that unky mike got too cocky and never considered that his placemen would lose control of the boardroom. "Senior Queens Counsel..." Ahhh, more of the Old Guard...? Where at thou HB QC? 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted June 3, 2015 Share Posted June 3, 2015 They're going round in circles on orcmeeja about the EGM resolutions. Can't blame them, there isn't enough clear information on which to base an opinion. It's going to be messy and who would want to be manager of a club, sorry, company, no, no, club, in this position? 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted June 3, 2015 Share Posted June 3, 2015 How the hell does this work for Mike then? He's basically signed a loan of £5M and no repayment date? That sounds way too stupid for a man of his calibre. He's up to something Exhaust his avenues dealing with with TRIFC then get King through the courts over the de-listing? 0 Quote Link to comment Share on other sites More sharing options...
Paramour Posted June 4, 2015 Share Posted June 4, 2015 How the hell does this work for Mike then? He's basically signed a loan of £5M and no repayment date? That sounds way too stupid for a man of his calibre. He's up to something My expectation would be that he can claim the company is in default in one way or another, then claim the assets upon which the loan is secured. This doesn't include Ibrox of course, but it does include the permission to use Ibrox as security in the event of another loan being required which I always felt was the most interesting of the conditions. 0 Quote Link to comment Share on other sites More sharing options...
AyrshireTon Posted June 4, 2015 Share Posted June 4, 2015 "Senior Queens Counsel..." Ahhh, more of the Old Guard...? FindlayQC.jpg Is Mohsni landing one on Donald too? 0 Quote Link to comment Share on other sites More sharing options...
Mr Sugden Posted June 4, 2015 Share Posted June 4, 2015 If it were a video game, Celtic would be the final boss, the ultimate enemy but one they have no hope of defeating any time soon. Donkey King or Jet Set Billy? 0 Quote Link to comment Share on other sites More sharing options...
MEADOWXI Posted June 4, 2015 Share Posted June 4, 2015 So if King & Co repay the loan they get, The security for Murray Park etc back, Increased revenue and hold over the retail side, Reduce the influence of SD/MA to a shareholder with less the 10% of the shares only. Don't pay - He still there and taking it all from the retail side and a massive presence around the board/club/company/mess. The only reason not to pay is surely that King (I wil invest £20M/£30M/£40M, or whatever it is), Doesn't have the wherewithal to get £5M to Ashley. Surely King is not a liar? 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted June 4, 2015 Share Posted June 4, 2015 WHERE ARE THEY NOW? this week featuring Disappearing Dave King 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted June 4, 2015 Share Posted June 4, 2015 Tedi in roaster mode 0 Quote Link to comment Share on other sites More sharing options...
MEADOWXI Posted June 4, 2015 Share Posted June 4, 2015 How much does the security over these assets cost Rangers? £0? How much extra income will Rangers get if they get the 26% shareholding from RR back? £0? Will Mike Ashley still have a huge influence over retail if this loan is paid? Yes He does not have anyone employed by the club. Indeed his only influence is to call a GM and raise resolutions which the shareholders can then just say 'no' to. Does paying this loan off at this stage benefit the club or shareholders in any way? No The main reason not to pay is to force a much better deal for Rangers from the retail operations, as a shareholder I will be voting against this resolution. That kind of assumes MA / SD need the £5M back or will be in financial difficulties, He doesn't, they ain't therefore the SEVCO board are to use an analogy playing the worst bluff hand in a game of poker ever, almost like MA has had men on the inside and knows exactly everything you are holding. Enjoy your vote. 0 Quote Link to comment Share on other sites More sharing options...
steelmen Posted June 4, 2015 Share Posted June 4, 2015 How much does the security over these assets cost Rangers? £0? - doesn't cost them anything but they can't borrow against them or sell them to raise funds. How much extra income will Rangers get if they get the 26% shareholding from RR back? £0? - Would they not get 26% more than they get just now? Will Mike Ashley still have a huge influence over retail if this loan is paid? Yes He does not have anyone employed by the club. Indeed his only influence is to call a GM and raise resolutions which the shareholders can then just say 'no' to. Does paying this loan off at this stage benefit the club or shareholders in any way? No - except getting 26% more of the retail, their trademarks back, and be able to borrow against/ sell some of their assets. The main reason not to pay is to force a much better deal for Rangers from the retail operations, as a shareholder I will be voting against this resolution. - you can't force them to give you a better deal. you can ask and they can say yes or no but that's it. 0 Quote Link to comment Share on other sites More sharing options...
adundeemonkey Posted June 4, 2015 Share Posted June 4, 2015 The Sevco fans don't quite get it. Mike is a BILLIONAIRE. Do they think he gives a toss about £5m? (when he is getting income on that which must be over 10% return). Put it this way. You are a BILLIONAIRE. You have been dragged through the mud by a bunch of lesser guys, they have bumped your mates, would you give a toss about £5m rather than turn the screw on the guys who had a go at you? The best thing is that MIke probably has a team of guys dealing with this for him, so he doesn't even have the problem of this being a nuisance to his daily life. 0 Quote Link to comment Share on other sites More sharing options...
nsr Posted June 4, 2015 Share Posted June 4, 2015 The main reason not to pay is to force a much better deal for Rangers from the retail operations, as a shareholder I will be voting against this resolution. How are you going to force anything? You have no leverage whatsoever. "Haw Mike wur no gie'in ye yer money back unless ye gie us whit we wahnt". Good luck with that. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted June 4, 2015 Share Posted June 4, 2015 How are you going to force anything? You have no leverage whatsoever. "Haw Mike wur no gie'in ye yer money back unless ye gie us whit we wahnt". Good luck with that. Yup. That pretty much seems to be the essence of G&S's "holistic" approach. 0 Quote Link to comment Share on other sites More sharing options...
entropy Posted June 4, 2015 Share Posted June 4, 2015 God forbid the rangers should face up to their financial responsibility's. 0 Quote Link to comment Share on other sites More sharing options...
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