williemillersmoustache Posted May 13, 2015 Share Posted May 13, 2015 I think it is fairly clear that the current board think that the whole deal with Ashley is crooked, they have stated several times that they are examining these deals in detail and they have every cause to be suspicious, only last week Ashley`s office was raided by police, time will tell what they found. The other point is that the £5m loan is not actually costing anything, it is interest free and has no time clause built into the repayment terms, the security does not give him any control over these assets, nor is he in a position to call the loan in, sure he can request it but that is about it. I imagine this request will be refused until the current investigations are complete. So, raided by police, cause for suspicion. 41 convictions, great theRangers man. Sevco logic 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted May 13, 2015 Share Posted May 13, 2015 Reads to me like Ashley is just reasserting himself and reminding the board that he still has the real power even if they like to pretend they have. 0 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted May 13, 2015 Share Posted May 13, 2015 I've not been following this particularly closely. What's the "paintings" stuff about 0 Quote Link to comment Share on other sites More sharing options...
kiddy Posted May 13, 2015 Share Posted May 13, 2015 Are they deid yet? 0 Quote Link to comment Share on other sites More sharing options...
Dr Koop Posted May 13, 2015 Share Posted May 13, 2015 I think it is fairly clear that the current board think that the whole deal with Ashley is crooked, they have stated several times that they are examining these deals in detail and they have every cause to be suspicious, only last week Ashley`s office was raided by police, time will tell what they found. The other point is that the £5m loan is not actually costing anything, it is interest free and has no time clause built into the repayment terms, the security does not give him any control over these assets, nor is he in a position to call the loan in, sure he can request it but that is about it. I imagine this request will be refused until the current investigations are complete. Are you referring to the Ashley loan? It costs five million quid and Ashley has asked for it. Have you any details of this 'raid' or are you parroting what you read in the Record? Were there arrests? Was there violence? That's the kind of thing that goes on in a police raid. Yours in pedantry, Doc 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted May 13, 2015 Share Posted May 13, 2015 Mike Ashley 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 13, 2015 Share Posted May 13, 2015 Are you referring to the Ashley loan? It costs five million quid and Ashley has asked for it. Have you any details of this 'raid' or are you parroting what you read in the Record? Were there arrests? Was there violence? That's the kind of thing that goes on in a police raid. Yours in pedantry, Doc Never mind that idiot a few weeks ago he was celebrating "Ashley being OUT and having no influence at Ibrox" 0 Quote Link to comment Share on other sites More sharing options...
graeme_p Posted May 13, 2015 Share Posted May 13, 2015 I wonder if Ashley has intentionally decided to call in the loan now because Sevco have wage to pay and very little gate receipts or income to pay them. Unless the Board pony up with the investment the promised where wll the woring capital come from? 0 Quote Link to comment Share on other sites More sharing options...
Ken Fitlike Posted May 13, 2015 Share Posted May 13, 2015 That's genuinely one of the funniest things I've ever read on here. You believe that someone would lend £5million, not put any repayment plan in place, no timescale for the loan and not allow themselves to ask for it back at any time? :lol: :lol: Yeah, 'Rangers' get to keep the loan money forever and ever. They'd put it in the warchest if it wasn't already spent on keeping the lights on (but not the undersoil heating lol) 0 Quote Link to comment Share on other sites More sharing options...
Romeo Posted May 13, 2015 Share Posted May 13, 2015 It's not a problem. They don't have to pay anything back to anybody, it's the Rangers (Mk2) way. Alternatively Dave King can just pay it of the 20 mill he is investing or they can take it out of the war chest. 0 Quote Link to comment Share on other sites More sharing options...
shull Posted May 13, 2015 Share Posted May 13, 2015 They are fucked. Bralt is alive and kicking ass. -1 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted May 13, 2015 Share Posted May 13, 2015 That's genuinely one of the funniest things I've ever read on here. You believe that someone would lend £5million, not put any repayment plan in place, no timescale for the loan and not allow themselves to ask for it back at any time? :lol: :lol: Wasn't that what the employee benefit trusts were about? 0 Quote Link to comment Share on other sites More sharing options...
da_no_1 Posted May 13, 2015 Share Posted May 13, 2015 It's not a problem. They don't have to pay anything back to anybody, it's the Rangers (Mk2) way. Alternatively Dave King can just pay it of the 20 mill he is investing or they can take it out of the war chest. 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 13, 2015 Share Posted May 13, 2015 Rangers Statement LOL 0 Quote Link to comment Share on other sites More sharing options...
adundeemonkey Posted May 13, 2015 Share Posted May 13, 2015 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted May 13, 2015 Share Posted May 13, 2015 (edited) You would think that if there was a repayment plan or a timescale then they would state this when sending a letter asking for it back. The terms of repayment are more likely to be in the original loan agreement rather than Ashley's request to have it repaid. However, he has given some timescale. From the record article and their excerpts of the letter Ashley sent to the Rangers board, there are some conditions clearly stated. He has asked them to call a General Meeting and vote for a resolution to repay him. Edited May 13, 2015 by Ross. 0 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted May 13, 2015 Share Posted May 13, 2015 (edited) I've not been following this particularly closely. What's the "paintings" stuff about It was an investment by Charles de Vert of Maison Chevaux, commissioned to commemorate the title triumph in Division Three. It was alledgedly a Van Dyke, but apparently he was conned because it's a Van Shyte. Edited May 13, 2015 by Jacksgranda 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 13, 2015 Share Posted May 13, 2015 (edited) Boooooooommmmmmmmmmmm Mike doesn't buy any of that NOMAD shite either then. Edited May 13, 2015 by THE KING 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted May 13, 2015 Share Posted May 13, 2015 (edited) Yet he does not state these terms? (do you know the terms?) in his letter when asking for the money back. Surely if these terms existed then he would just say 'under the terms (insert terms here) of the facility' this is now due to be paid back, no need for an EGM and no need for a shareholder vote. Looking at the letter his terms at this point are fairly clear. Call a General Meeting, vote yes to my resolution, and pay me back within 10 days of voting yes to my resolution. Looking at the other issues he mentions it reads to me like Ashley is having a go at the board and calling baws oot time. ETA: I found this on the Stock Exchange notice for the first £5m of the Sports Direct facility The Club will transfer 26% of the share capital in Rangers Retail Limited ("RRL") to SD for the duration of the Facility (the "Transfer"), which will be transferred back, at no cost, upon repayment of all outstanding sums owed by Rangers and its subsidiaries to SD. There is no specified repayment period for the first tranche of the Facility I think it's interesting that it mentions no specified period, but not no specific conditions. Edited May 13, 2015 by Ross. 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 13, 2015 Share Posted May 13, 2015 No influence 0 Quote Link to comment Share on other sites More sharing options...
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