Ross. Posted May 13, 2015 Share Posted May 13, 2015 I'm inclined to think that Ashley's been put in a bit of a sticky situation here due to a clever piece of bad faith by the club. He'd now rather just get the f**k out before it all falls down. I don't think this is any sort of threat: that doesn't seem to be how Ashley works. Generally he buys into struggling companies with large turnovers but poor cashflow, and increases his influence by lending them cash and taking money out through retail deals that are massively beneficial to him and his company, while not requesting repayment of the debt until it suits him, quite often when the company cannot repay the debt, at which point he gets what he wants at a very low price. Pretty much how he ended up owning just about every brand sold through his shops. 0 Quote Link to comment Share on other sites More sharing options...
adundeemonkey Posted May 13, 2015 Share Posted May 13, 2015 From the looks of things, the Board will have 21 days to announce a date for the egm which should be no more than 28 days of that announcement. So If we go by the 30th April, they have to anounce an egm date by the 21st May (Next thus) and that date can be no later than 18th June. 0 Quote Link to comment Share on other sites More sharing options...
weirdcal Posted May 13, 2015 Share Posted May 13, 2015 i think hes playing clever buggers. the Rangers need a revenue stream outside season tickets - they cannot cover their costs with money generated for them. with offering the board a chance to reclaim the rangers retail rights and new revenue for the price of the loan he has given them. ie cost the board money to make the club company money. either way, he proves that they lied about being able to afford to run Rangers at the EGM to get in and that you cannot trust the glib one and doesnt get his £5m back or he gets £5m and he has cost the 3bears and skintilocks £5m of their own money. this is what happens when you annoy a billionaire with a ruthless streak 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 13, 2015 Share Posted May 13, 2015 Mike Ashley ..hey rangers fans dont think I can get my money back? 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted May 13, 2015 Share Posted May 13, 2015 From the looks of things, the Board will have 21 days to announce a date for the egm which should be no more than 28 days of that announcement. So If we go by the 30th April, they have to anounce an egm date by the 21st May (Next thus) and that date can be no later than 18th June. Just missing midsummer's day. Pity. I like a memorable date. Like Valentine's day frinstnce. Anyhoo, we can start counting sleeps after the EGM date is announced. 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted May 13, 2015 Share Posted May 13, 2015 i think hes playing clever buggers. the Rangers need a revenue stream outside season tickets - they cannot cover their costs with money generated for them. with offering the board a chance to reclaim the rangers retail rights and new revenue for the price of the loan he has given them. ie cost the board money to make the club company money. either way, he proves that they lied about being able to afford to run Rangers at the EGM to get in and that you cannot trust the glib one and doesnt get his £5m back or he gets £5m and he has cost the 3bears and skintilocks £5m of their own money. this is what happens when you annoy a billionaire with a ruthless streak Can't imagine there are many without said streak. 0 Quote Link to comment Share on other sites More sharing options...
Musketeer Gripweed Posted May 13, 2015 Share Posted May 13, 2015 If King and his cronies are not mortified that this has gone public they should be. All Ashley has done here is shown them up for the charlatans that they are. This one will rumble on for months, or until they die again, whichever comes first. 0 Quote Link to comment Share on other sites More sharing options...
weirdcal Posted May 13, 2015 Share Posted May 13, 2015 Can't imagine there are many without said streak. well the last billionaire* involved dropped the old club into admin.... so yeah, i think you have a point there. *information given by the daily record and MBB / WOTR also refer to this said individual 0 Quote Link to comment Share on other sites More sharing options...
Paramour Posted May 13, 2015 Share Posted May 13, 2015 Have I missed something, or has everyone else? What about resolution 1B: ...the release of RFC from the current restrictions preventing it from being able to provide security over the Ibrox stadium without the prior consent of Sports Direct... I wasn't aware that was part of the deal - I knew that Ibrox couldn't be provided as security for a number of rumoured reasons (i.e. it doesn't seem entirely certain who legally holds the deeds) but I didn't know about this contingency. Maybe this can come out in the EGM? Either way, it seems clear that Cashley has called the bluff like most here knew he would at some stage. Again, he's got a win-win; one way, he gets his money back and gets the hell out of dodge after a nice bit of asset stripping and, irrespective of whether he gets his money back, he publically embarrasses the board for the mob of utter shysters that they are while retaining the iron grip on the revenue streams. 0 Quote Link to comment Share on other sites More sharing options...
Guest Posted May 13, 2015 Share Posted May 13, 2015 0 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted May 13, 2015 Share Posted May 13, 2015 If King and his cronies are not mortified that this has gone public they should be. All Ashley has done here is shown them up for the charlatans that they are. This one will rumble on for months, or until they die again, whichever comes first. King, mortified? Surely you jest. 0 Quote Link to comment Share on other sites More sharing options...
Musketeer Gripweed Posted May 13, 2015 Share Posted May 13, 2015 Someone with a bit of photoshop skill could do something with this I reckon. 0 Quote Link to comment Share on other sites More sharing options...
SlipperyP Posted May 13, 2015 Share Posted May 13, 2015 We played! Mr Ashley, I think i like you 0 Quote Link to comment Share on other sites More sharing options...
SlipperyP Posted May 13, 2015 Share Posted May 13, 2015 Arseley is a c**t, I know I would see his likes ruined first before any football club, including Rangers. The fact his company abuses its workers and denies any responsibility for the sweatshop factories his products are manufactured. Rangers board are small potatoes compared to this bag of shite, I wish nothing but every STD known to science on him and feathers. Yes, The Sevco have been drastic, but... I love it. As for the other companies he owns there the evil, evil that we don't want to think of, BUT they'll probably put a better XI together, 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 13, 2015 Share Posted May 13, 2015 (edited) If King and his cronies are not mortified that this has gone public they should be. All Ashley has done here is shown them up for the charlatans that they are. This one will rumble on for months, or until they die again, whichever comes first. You have to admire the good guys transparcy here , they got a request for a GM 2 weeks ago and haven't told any shareholders yet.Ashley has absolutely arse raped them here, pay up or I own everything. Cut a new deal where I own everything. Or go to a GM and get embarrassed trying to explain your NOMAD lies. Edited May 13, 2015 by THE KING 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 13, 2015 Share Posted May 13, 2015 (edited) Has the Orc calming horseshit statement from Sevcoworld been released yet? Edited May 13, 2015 by THE KING 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted May 13, 2015 Author Share Posted May 13, 2015 Arseley is a c**t, I know I would see his likes ruined first before any football club, including Rangers. The fact his company abuses its workers and denies any responsibility for the sweatshop factories his products are manufactured. Rangers board are small potatoes compared to this bag of shite, I wish nothing but every STD known to science on him and feathers. Ashley is a cnut - I agree. His company are rascals - I agree. Workers rights and sweatshop conditions need addressed - I agree.... Let's see the Sevco crushed like a midge on your forearm first, then worry about Bangladeshi five year olds manufacturing polyester shite.... Priorities, priorities. 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 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. It would appear from the wording quoted earlier that a large chunk of Rangers Retail is being used as security while the profits from that will be compensating Ashley for not receiving any direct interest. To say it's interest free may be true in the strictest sense but to say it's "actually not costing anything" would seem a bit wide of the mark. It's costing Rangers FC revenue that they would get from having full control over their own retail. Guess how much money that is multiply it by the percentage of the stake transferred by the loan agreement and divide by £5m and you'll have an estimate for the equivalent interest rate 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted May 13, 2015 Share Posted May 13, 2015 Heard the Ashley news is n the radio this morning and guessed there would be around 10 new pages on here by the time I got home lol Let's see if I've got everything here. Rangers directors meet with the sports directors... Two days later they demand a shareholders meeting to discuss getting their loans back. Five days later the polis raid sports directs high command\bunker. Spose now the Rangers board have to walk the walk now... 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted May 13, 2015 Share Posted May 13, 2015 I know that this is getting billed as Ashley going to war, but it all sounds pretty straightforward and reasonable to me. The repayment of a £5m loan will see the disappearance of his hold over assets and a shrinking of his retail chunk. Surely, this is also what the board and the fans want. I'm not being facetious in saying that such an amount really should be pretty trivial for these guys. They've already chipped in to provide loans of their own and that's before we consider King's apparent personal means, which have been extensive enough to buy out his jail term at the cost of tens of millions. Genuine question: What's stopping them paying this money and putting this part of the saga to bed? Unless you've sneaked something sly in there, that's pretty similar to my way of thinking. I'm guessing that the board will have to get their collective fingers oot and raise funds through either loans or share issues. 0 Quote Link to comment Share on other sites More sharing options...
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