The DA Posted February 2, 2014 Share Posted February 2, 2014 You're a wee bit late, Boss. We've all been laughing. most of us, since last night. Can someone explain this lease/buyback stuff? My understanding is that the company already owns the club which owns the property. So, if the club gives up the properties to cover the debts, no one is any better off. Yes, the company can ask the club for an annual rent to allow them to train and play but there's no new money being passed to the club, just a writing-off of debt.. Where is the money coming from to cover the next few months? 0 Quote Link to comment Share on other sites More sharing options...
Fotbawmad Posted February 2, 2014 Share Posted February 2, 2014 Gers probed over ‘new cash crisis’ Stock exchange inquiry I think I might visit The Milk Barn and get some supplies in. Countdown to busto 0 Quote Link to comment Share on other sites More sharing options...
Benjamin_Nevis Posted February 2, 2014 Share Posted February 2, 2014 I thought "Rangers Man" Dave King was waiting in the wings to throw them a few million. Wee shame 0 Quote Link to comment Share on other sites More sharing options...
dirty dingus Posted February 2, 2014 Share Posted February 2, 2014 For f**k sake, the b*****d spawn of the Queens 11 is truly a mocumentary in the making. Give me a 120 days wages a tie and a Greggs pie and I'll give you a busted flush report. i 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted February 2, 2014 Share Posted February 2, 2014 Gers probed over ‘new cash crisis’ Stock exchange inquiry I think I might visit The Milk Barn and get some supplies in. Ooft. Tick tock. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted February 2, 2014 Share Posted February 2, 2014 Super salary taking more nonsense just for a change. http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boss-ally-mccoist-praises-3100354 Can't wait to see his fat face greeting when they go bust, tbh. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted February 2, 2014 Share Posted February 2, 2014 (edited) So why didn't one of these two clowns just tell the press .. Lee's not for sale weeks ago ... They must think the bears are fucking thick as shyt ......... oh, never mind carry on !! Genuinely puzzled why they didn't accept the Wallace bid if things are as bad as they seem? Maybe they're so fucked it wouldn't have made much difference. Edited February 2, 2014 by AberdeenBud 0 Quote Link to comment Share on other sites More sharing options...
Sting777 Posted February 2, 2014 Share Posted February 2, 2014 Phil tipping Feb to be special for sevco. http://www.philmacgiollabhain.ie/sevco-in-february/#more-4348 Ah February is my favourite month of the year! 0 Quote Link to comment Share on other sites More sharing options...
Apache Don Posted February 2, 2014 Share Posted February 2, 2014 Hic what a fkg party, hic Sorry wrong section hic hic 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted February 2, 2014 Share Posted February 2, 2014 Genuinely puzzled why they didn't accept the Wallace bid if things are as bad as they seem? Maybe they're so fucked it wouldn't have made much difference. Because there was no bid 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted February 2, 2014 Share Posted February 2, 2014 Super salary taking more nonsense just for a change. http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boss-ally-mccoist-praises-3100354 Can't wait to see his fat face greeting when they go bust, tbh. FAO Densboy. How to post a link in one easy go ^^^^ Thank you Bud. 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted February 2, 2014 Share Posted February 2, 2014 Genuinely puzzled why they didn't accept the Wallace bid if things are as bad as they seem? Maybe they're so fucked it wouldn't have made much difference. The sun article could be wrong. Finance may become available through selling property They may want to enter admin.. They haven't a f**king a scooby... 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted February 2, 2014 Share Posted February 2, 2014 (edited) The sun article could be wrong. Finance may become available through selling property They may want to enter admin.. They haven't a f**king a scooby... 1. Club owes millions to the the company shareholders. 2. Company says 'we'll take Ibrox off your hands and, in exchange, we'll write off that debt". 3. Company now has Ibrox and can rent it back to the club. 4. Club is once again debt-free. Unfortunately it's also asset-free. Which of those 4 steps gives the club enough cash to see them through the next few months? [Edited for crap typing] Edited February 2, 2014 by The DA 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted February 2, 2014 Share Posted February 2, 2014 The sun article could be wrong. Finance may become available through selling property They may want to enter admin.. They haven't a f**king a scooby... Could well be any of the above. I haven't a clue either tbh, but it could be they want to ensure an insolvency event happens this season and not next. 0 Quote Link to comment Share on other sites More sharing options...
BossHogg Posted February 2, 2014 Share Posted February 2, 2014 You're a wee bit late, Boss. We've all been laughing. most of us, since last night. Can someone explain this lease/buyback stuff? My understanding is that the company already owns the club which owns the property. So, if the club gives up the properties to cover the debts, no one is any better off. Yes, the company can ask the club for an annual rent to allow them to train and play but there's no new money being passed to the club, just a writing-off of debt.. Where is the money coming from to cover the next few months? Sorry missed all that,,,,sounds wonderful though . 0 Quote Link to comment Share on other sites More sharing options...
BossHogg Posted February 2, 2014 Share Posted February 2, 2014 Ah February is my favourite month of the year!It's like Groundhog Day for Sevco ,again.Mon that's good! 0 Quote Link to comment Share on other sites More sharing options...
bairney Posted February 2, 2014 Share Posted February 2, 2014 Rangers (sic) are at the centre of a financial cover-up investigation over claims the club will be broke within two weeks.The stock exchange inquiry was launched after an Ibrox official is alleged to have forecast they would run out of cash by mid-February." The Sun. 18 hours ago.Nash, who insisted that he was paid in advance,delivered his interim report to Wallace on Friday. He had to be persuaded from not walking away by the principals of the Laxey hedge fund. Wallace was counting on a £2.5M loan from Charles Green to pay for two months payroll and give him some breathing space to raise funds with a new share loss. Green would not release the shares to the Easdales unless they paid a premium on the 70p share launch price. The Easdales offered market value of 26p. NO SALE, NO LOAN,ADMINISTRATION WITHIN HOURS. Watch the shares go into a tail spin tomorrow morning prior to their suspension. Wallace will then be forced to file for administration within hours of his stock exchange statement. I think it's for the best 0 Quote Link to comment Share on other sites More sharing options...
ThirdrockfromtheSon Posted February 2, 2014 Share Posted February 2, 2014 Rangers (sic) are at the centre of a financial cover-up investigation over claims the club will be broke within two weeks. The stock exchange inquiry was launched after an Ibrox official is alleged to have forecast they would run out of cash by mid-February." The Sun. 18 hours ago. Nash, who insisted that he was paid in advance,delivered his interim report to Wallace on Friday. He had to be persuaded from not walking away by the principals of the Laxey hedge fund. Wallace was counting on a £2.5M loan from Charles Green to pay for two months payroll and give him some breathing space to raise funds with a new share loss. Green would not release the shares to the Easdales unless they paid a premium on the 70p share launch price. The Easdales offered market value of 26p. NO SALE, NO LOAN,ADMINISTRATION WITHIN HOURS. Watch the shares go into a tail spin tomorrow morning prior to their suspension. Wallace will then be forced to file for administration within hours of his stock exchange statement. I think it's for the best You might indeed think it's for the best, but Gordon Dalziel says that Scottish football needs a strong Rangers and I'd believe him (marginally) over anything that's written in the Sun. The media won't acknowledge it either, I would suggest. Not good for selling news if there's no The Rangers; apart form the Sun, of course. It would be smashing if they did go under again......one down, the other half next..........pleasing. 0 Quote Link to comment Share on other sites More sharing options...
scottxs Posted February 2, 2014 Share Posted February 2, 2014 Oh no Armageddon again. 0 Quote Link to comment Share on other sites More sharing options...
Johnstoun Posted February 2, 2014 Share Posted February 2, 2014 You sink us, we'll sink us? 0 Quote Link to comment Share on other sites More sharing options...
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