Ross. Posted June 4, 2015 Share Posted June 4, 2015 So Rangers don't have the money to repay Ashley and they are going to beg him to give them something for nothing? 0 Quote Link to comment Share on other sites More sharing options...
WeeDiamond90 Posted June 4, 2015 Share Posted June 4, 2015 What the P & Bers seem to be missing is that their is no financial incentive to pay this loan off right now, nor is there any penalty for refusing this request. It doesn't matter if it benefits you or not! You effectively went to a loan shark for money and now he wants that money back, and from what I can gather about Mr Ashley's way of business he doesn't give a flying f**k how it effects you. You took his money, then sacked the two reps he appointed to the board, and now you are telling him he can't have his money back, and that you want a better deal from Sports Direct? 0 Quote Link to comment Share on other sites More sharing options...
printer Posted June 4, 2015 Share Posted June 4, 2015 He doesn't I guess Indeed. 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted June 4, 2015 Share Posted June 4, 2015 The conditions: 26% increase in RR shareholding, Security on certain assets, shirt sponsorship proceeds from 2017-18 (if the loan is still in place), He has not requested any nominees. No If it was an overdraft then it would be called an overdraft, its a loan. The financial incentive for Rangers is that they get 26% more income from the retail business, they have assets that they are free to use as they see fit(Sell them, rent them out, mortgage them), and they get money from shirt sponsorship from 2017-18 onwards. 0 Quote Link to comment Share on other sites More sharing options...
Insaintee Posted June 4, 2015 Share Posted June 4, 2015 Last time I watched Judge Judy I'm sure they never got of repaying loans by saying there was no date in the contract. 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted June 4, 2015 Share Posted June 4, 2015 You cannot call in something which is not due, it is quite clear that Fat Mike thought this loan was going to be in place until at least 2018, which is why he had the shirt money 2017/2018 clause inserted. Yes you can. 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted June 4, 2015 Share Posted June 4, 2015 A loan shark who is charging 0%? Fat Mike does not get a penny extra for this loan being in place. Aye cos paying the loan off will encourage him to do the same? So SD is getting no return for their £5m? -1 Quote Link to comment Share on other sites More sharing options...
WeeDiamond90 Posted June 4, 2015 Share Posted June 4, 2015 (edited) A loan shark who is charging 0%? Fat Mike does not get a penny extra for this loan being in place. Aye cos paying the loan off will encourage him to do the same? He may be charging 0% but he does have security over everything except Ibrox, meaning if he want his money and you can't/ wont pay then he gets to keep them If you think he is making not one penny from this loan deal then you are clearly delusional Well surely you would have a better chance than not paying him, and why would he want to renegotiate it anyway? Edited June 4, 2015 by WeeDiamond90 0 Quote Link to comment Share on other sites More sharing options...
nsr Posted June 4, 2015 Share Posted June 4, 2015 I'm not an expert on financial matters but I'd be very surprised if you can avoid paying back a loan just by repeatedly claiming it has no end date. 0 Quote Link to comment Share on other sites More sharing options...
Insaintee Posted June 4, 2015 Share Posted June 4, 2015 A loan shark who is charging 0%? Fat Mike does not get a penny extra for this loan being in place. Aye cos paying the loan off will encourage him to do the same? Seems legit 0 Quote Link to comment Share on other sites More sharing options...
printer Posted June 4, 2015 Share Posted June 4, 2015 Does not really work when you ignore the other part though does it Stedi, Tedi! 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted June 4, 2015 Share Posted June 4, 2015 So SD is getting no return for their £5m? So SD is getting no return for their £5m? So SD is getting no return for their £5m? 0 Quote Link to comment Share on other sites More sharing options...
printer Posted June 4, 2015 Share Posted June 4, 2015 Last time I watched Judge Judy I'm sure they never got of repaying loans by saying there was no date in the contract. Wid 0 Quote Link to comment Share on other sites More sharing options...
WeeDiamond90 Posted June 4, 2015 Share Posted June 4, 2015 They will remain under security until he either does a deal that is acceptable to Rangers and they pay him back or he find a legal argument that Rangers have defaulted on the loan. Go on then what is he making out of it? Why would fat mike who does not not give a 'flying f**k' (your words) negotiate once he has his money back? Why should he accept a deal that is acceptable to Rangers? Have you any proof he isn't making money out of it? You don't become a Billionaire by simply lending folk money free of charge 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted June 4, 2015 Share Posted June 4, 2015 So SD is getting no return for their £5m? Do you know what happens when a floating or fixed security is taken on a going concern and that business then no longer becomes a going concern? Rangers Retail will be the key to getting this loan repaid. 0 Quote Link to comment Share on other sites More sharing options...
killingfloorman Posted June 4, 2015 Share Posted June 4, 2015 They will remain under security until he either does a deal that is acceptable to Rangers and they pay him back or he find a legal argument that Rangers have defaulted on the loan. Go on then what is he making out of it? Why would fat mike who does not not give a 'flying f**k' (your words) negotiate once he has his money back? Carry on Tedi, i think this is definitely the best way to approach this. I can't think of *any* way in which this could backfire or go wrong for the berzzz. 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted June 4, 2015 Share Posted June 4, 2015 Get back to me when something happens then. Will do. 0 Quote Link to comment Share on other sites More sharing options...
Insaintee Posted June 4, 2015 Share Posted June 4, 2015 (edited) Why should Rangers accept a request to pay off a loan that they do not have to? Do you have any proof he is making money out of it? how many millions did he lose in his Barclays deal again? Who says they don't have to pay it back? That's EBT's you're thinking of Edited June 4, 2015 by Insaintee 0 Quote Link to comment Share on other sites More sharing options...
WeeDiamond90 Posted June 4, 2015 Share Posted June 4, 2015 Why should Rangers accept a request to pay off a loan that they do not have to? Do you have any proof he is making money out of it? how many millions did he lose in his Barclays deal again? Why do they not need to pay it off? I don't need proof that he is making money out of it, he wouldn't invest in Rangers if he wasn't going to make money out of it, billionaires don't make a habit of throwing money down a hole in the ground (hence they are billionaires) 0 Quote Link to comment Share on other sites More sharing options...
Podlie Posted June 4, 2015 Share Posted June 4, 2015 I'm not an expert on financial matters but I'd be very surprised if you can avoid paying back a loan just by repeatedly claiming it has no end date. Was no time limit set for payback on it. Wonder if there is still an obligation to purchase stock higher than its resale value still in place. Any boycott of SD going to be expensive. 0 Quote Link to comment Share on other sites More sharing options...
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