Shanghai Loon Posted June 11, 2015 Share Posted June 11, 2015 A couple of simple questions as I'm a bit thick. If Tedi is correct and the 'Ashley henchmen' have signed and/or arranged contracts to benefit Ashley when they were on the board, then couldn't the current directors take legal action as this would not have been in the best interest of the shareholders? The fact that the current board would now have all this information / documents and have not called this deal into question (other than try and renegotiate) would this suggest that this is legal and above board? Confused, so some clarification would be helpful. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted June 11, 2015 Share Posted June 11, 2015 I think you are right on this one. Let me ask you a question Tedi and do try to answer it please. That £2.8 million operating loss in the accounts we both know about, what would have happened if it didn't get serviced ? A, Nothing it isn't debt. B, Insolvency event because players, staff, Police Scotland, Electricity, creditors etc didn't get paid because they were running an operating loss with no means to pay it without accruing debt to service the operating loss. Option "B" by the way automatically becomes debt in the event of an insolvency event because the club/company becomes indebted to it's creditors for services rendered on the goodwill the company will pay them. 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted June 11, 2015 Share Posted June 11, 2015 A couple of simple questions as I'm a bit thick. If Tedi is correct and the 'Ashley henchmen' have signed and/or arranged contracts to benefit Ashley when they were on the board, then couldn't the current directors take legal action as this would not have been in the best interest of the shareholders? The fact that the current board would now have all this information / documents and have not called this deal into question (other than try and renegotiate) would this suggest that this is legal and above board? Confused, so some clarification would be helpful. If Tedi is correct 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted June 11, 2015 Share Posted June 11, 2015 (edited) A couple of simple questions as I'm a bit thick. If Tedi is correct and the 'Ashley henchmen' have signed and/or arranged contracts to benefit Ashley when they were on the board, then couldn't the current directors take legal action as this would not have been in the best interest of the shareholders? The fact that the current board would now have all this information / documents and have not called this deal into question (other than try and renegotiate) would this suggest that this is legal and above board? Confused, so some clarification would be helpful. Somers explicitly said in the media back last October thereabout that he personally invited Llambias & Leech onto the Rangers staff as consultants. Although previously known to have worked for Ashley there is no proof that they were nominated onto the Board of Rangers by Ashley himself. So it's be very hard to prove in court that it was Ashley himself who placed them on the Rangers board personally when Somers himself had publicly announced he hired them and gave them places on the BoD of Rangers. That's my take anyway. Also you have to factor in the predicament the club was in at the time, skint as fcuk and desperately needing cash. As Tedi and the other bears put it !, there were other offers on the table but the board refused it at the time claiming there was no proof of funding when asked for and also in the boards opinion what King was asking for was 51% shareholding in RIFC making his consortium the highest controlling shareholding for the funding. iirc. It would appear that all the contracts are legal and above board and The Mad King has decided to whinge in public because it fucked up The Mad Kings plans for not putting a penny into the club. As unfair to the club as they were, the club was in no position to bargain a better deal and had to give up certain conditions or the club would have went into insolvency back last year. Try getting a judge to sympathise with Rangers FC for placing themselves into a position were they had to agree to certain unfair terms or go into administration. Mad King "your honour these contracts are unfair to the club" Judge "What would have happened if they weren't done ?" Mad King "Administration I suppose" Judge " Case closed" edut tipooo Edited June 11, 2015 by hellbhoy 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted June 11, 2015 Share Posted June 11, 2015 If Tedi is correct Sometimes the blundering buffoon does get it right Doink. ? 0 Quote Link to comment Share on other sites More sharing options...
M4roon Pl4toon Posted June 11, 2015 Share Posted June 11, 2015 A couple of simple questions as I'm a bit thick. If Tedi is correct and the 'Ashley henchmen' have signed and/or arranged contracts to benefit Ashley when they were on the board, then couldn't the current directors take legal action as this would not have been in the best interest of the shareholders? The fact that the current board would now have all this information / documents and have not called this deal into question (other than try and renegotiate) would this suggest that this is legal and above board? Confused, so some clarification would be helpful. The simple answer is that The The Rangers (est 2012) merchandising operation was running at a LOSS before MA got involved. He bought out their shops and tuped over all the staff over to Sports Direct. He orders, transports and stocks all their taps and tat. So, in effect, instead of The The Rangers (est 2012) moaning about how they are losing X amount of pounds saying that it was so and so's fault, they are actually arguing (thanks to MA and his retail expertise and all his hard work) that they are getting money (profits) for doing sweet FA. 0 Quote Link to comment Share on other sites More sharing options...
K Dodd Posted June 12, 2015 Share Posted June 12, 2015 I can see this argument with the latter loans Benny, but the essence of my discussion with Tedi is that it is unfair and disingenuous to describe the original retail agreement as being signed in similar circumstances. Rangers agreed to it because they wanted to and/or had to. For all Charlie's faults I don't think you'd describe him as Ashley's placeman. So you don't think chuckle was put there by Ashley? Do you not remember, when all the major players were jockeying for position to buy the club? Bill Ing, Bill "the trucker", the blue nits, and, the mysterious Mike Ashley. Aye Mike Ashley. And all the Bears were singing his praises thinking they were getting a sugar daddy. Then, all of them disappeared off the radar. And Duff and Phelps had eyes for only Chuckie. Coincidence? You decide. My feeling is that Ashley has been playing these mugs from the beginning, and he ain't gonna stop till he gets what he wants. And the more the current BOD piss him off the more he's gonna want. Imo, the missing link is Ashley and D & P. That ones going to stay hidden for a long time though me thinks. It's like the drug lord distancing himself from the product and the middle men doing his dirty work. Anyways, on a lighter note, keep those heads in the sand boys it will all sort itself out. The "good guys" did win after all". 0 Quote Link to comment Share on other sites More sharing options...
Paramour Posted June 12, 2015 Share Posted June 12, 2015 ^^^ Quite honestly, if I found out my club had been stitched up right and royally to this extent, I would be beelin' as well. But, that said, had I been warned about such a possibility well in advance and not listened to said warning, thusly not galvanising a militant and committed support in order to protect the club I loved, and had instead blindly clung to a pre-supposed future of domination consistent with a past of financial doping and generally corrupt behaviour, I would really only have myself and my fellow idiots to blame. 0 Quote Link to comment Share on other sites More sharing options...
akredz Posted June 12, 2015 Share Posted June 12, 2015 So, the "extra" 5 or 10 milion needed to win the championship..., is that over and above the initially promised 50, 30, 20, millions or just a wee add on to the ST money? 0 Quote Link to comment Share on other sites More sharing options...
Paramour Posted June 12, 2015 Share Posted June 12, 2015 Me next: As a fan I was desperate for us to gain promotion to the Premiership but as a businessman I was alert to the risk that this entailed. The simple fact is that the Club is not yet ready to make a challenge for the Premiership title. Even with the economic gulf that Rangers enjoyed against those with whom it was competing we could not win the Championship. How very humble of you Dave but, let's face it, you did want Rangers to be promoted as a businessman as you would so enjoy the extra revenue from those high-grossing bigotfests you enjoy with your other cheek. All of this will require money and that is why I am urging every supporter to buy into what we are trying to achieve for Rangers. All season ticket proceeds will be fully invested in the footballing activities of the Club. The wrong types have been removed from the Club and for the first time in years there is hope. We can all be confident that there will be no more squandering of money. Oh ma f*cking sides. So much wrong here, sad to say that the majority of this deluded support will lap this up in pints. This must be the last season we spend in the Championship Well, with that much I agree, except he doesn't go far enough. This must be the last season they spend in existence, I would hope. Too much else of breathtaking dishonesty to mention, but it seems as though the Bears are waking up and realising the guy is a world-class bullshit artist. From "I'll invest GBP30m" to "We're raising season ticket prices despite being utterly shung" could be a bridge too far even for the GASL. 0 Quote Link to comment Share on other sites More sharing options...
H_B Posted June 12, 2015 Share Posted June 12, 2015 Why doesn't King just buy out MA? I'm assuming he has a LOT of money. Wealth off the radar 0 Quote Link to comment Share on other sites More sharing options...
dave.j Posted June 12, 2015 Share Posted June 12, 2015 Regards this letter, I'd be interested to know, what are the non football activities of the club? 0 Quote Link to comment Share on other sites More sharing options...
weirdcal Posted June 12, 2015 Share Posted June 12, 2015 Regards this letter, I'd be interested to know, what are the non football activities of the club? I think you may be a month early for that. 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted June 12, 2015 Share Posted June 12, 2015 (edited) Great wee letter from King. I enjoyed the laboured, bleating repetition at the start about the age of the club. No other club does this and Rangers of old didn't used to do it either. I'm actually ok with the idea of continuity, albeit not a seamless one, but the need to harp on constantly about history and being 143 years old, reveals such a towering collective insecurity on the issue. It would genuinely be better for them and less funny for us, if they stopped doing it. Contrast that with the reluctance to "talk in exact numbers" later on and the comedy tour de force gathers pace. I also liked the bit about failure to get promoted actually being of benefit because the club could not yet have won the top flight. By that logic, the relief I felt over my club's play-off defeat must have been immense. He actually admits here that they're only interested if they're likely to win - what stupid, spoilt children. A ridiculous, flimsy, idiotic and insulting statement to aim at your own club's fans. It should work fine. Edited June 12, 2015 by Monkey Tennis 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted June 12, 2015 Share Posted June 12, 2015 Regards this letter, I'd be interested to know, what are the non football activities of the club? Wall guarding, queen saving, marching, fluting, watping, failing. 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted June 12, 2015 Share Posted June 12, 2015 Petitioning MIKE ASHLEY and 1 other Cancel your merchandise contract with Rangers FC as we will buy no more merchandise from you while its in place Sons of Struth Glasgow, United Kingdom The following details have became public knowledge... "while its in place" ... "have became public knowledge" Is there seriously nobody in these fan organisations with even the most basic literacy skills, who could cast his eye over this stuff, before they show it to people? 0 Quote Link to comment Share on other sites More sharing options...
kildog Posted June 12, 2015 Share Posted June 12, 2015 MESSAGE FROM CHAIRMAN, DAVE KING Dear fellow supporter Spoiler: click to toggle Rangers Football Club is about to commence the next chapter of a remarkable 143-year-old story that has spanned the ages and inspired countless supporters over many generations. Our Club has a deep and rich history but Rangers is as much about its future as its past. It is in remembrance of past generations and my hope for future generations that I write to you today. I am immensely proud to be Chairman of this wonderful Scottish institution and I am mindful of the delicate situation the Club is in at this critical juncture in its history. It is absolutely vital that the board and fans join together to restore Rangers to its natural and more recognisable position - both in Scotland and internationally. Like all of you who read this letter, I have always taken pride in being a Rangers supporter. It is something I inherited from my father who, in turn, inherited the legacy from my grandfather. This is what Rangers fans do. We pass on our pride and belief in Rangers to our children. That is why Rangers truly is a Club for generations. Our unrelenting pride and belief in Rangers has helped us through the last few years, which have been the toughest for supporters in the Club’s long history. The reality is that from the time of the Craig Whyte acquisition the Club has lurched from one crisis to another and it was ultimately the stamina and endurance of our supporters that led us towards the new era that began with the removal of the previous board on the 6th March 2015. I assure all supporters they now have a Board they can trust to restore the Club’s fortunes. It is a Board that will ensure sufficient funding will be in place for Rangers to compete for the Premiership in the coming seasons and the Board will do so in a manner that does not take the Club back to the financial precipice. This rebuilding process should have commenced three years ago but for reasons that we are all too familiar with, this didn’t happen and it is incredibly disappointing to us all that Rangers remains in the Championship. However, we must now turn that into an opportunity. As a fan I was desperate for us to gain promotion to the Premiership but as a businessman I was alert to the risk that this entailed. The simple fact is that the Club is not yet ready to make a challenge for the Premiership title. Even with the economic gulf that Rangers enjoyed against those with whom it was competing we could not win the Championship. We struggled throughout the season and, despite the best efforts of Stuart McCall we struggled, even in those play-off matches which we did win. We now find ourselves having to restructure both on and off the field and it must be clear to all fans that this could not be achieved easily in the little time we have before the commencement of pre-season training. Spending another season in the Championship is an undesirable reality and we have to start with rebuilding the footballing side so that we end this next season as champions of the Championship and ready to compete for the Premiership title. We must target players who have the quality and desire to play for Rangers. We must also ensure that the football structure we put in place provides a sustainable and successful future for the Club. However, even with new investment your Board cannot do this on its own. That is why I am asking you to take season ticket sales to a record level. The football you have watched over the last season does not justify the price you have paid but we want and need to do better. Our Club cannot, and must not, get to the point where we celebrate mediocrity. The Rangers Football Club has, for over a century, been the biggest Club in Scotland and will be again. That is a non-negotiable for me. Our Club stands at a crossroads and the next season is critical to our future. This must be the last season we spend in the Championship and an intelligent and realistic strategy to drive Rangers back to the very top as quickly as possible is required. Over the last year I have witnessed just how much so many of you care for Rangers. The last several years have been anything but easy and it has been your unflinching support and love for our Club that has held it together. It has been the historical willingness of fans to back the team by purchasing season tickets and supporting the Club’s retail operations and creating new ventures (such as Rangers Pools, now Rangers Lotto) that ensured long-term success and domination in Scotland. It is not so long ago that Rangers had the second most profitable football brand in the UK. I will be engaging our retail partners to find a way forward to deal with the current concern of fans that purchasing replica kit and other merchandise does not support the Club to the extent that historically has been the case. I will make further comment on that topic in the coming weeks. Although my present focus is on new season tickets I also want to create a way for supporters to participate in the Club that goes beyond what we have seen in the past and creates a new legacy for future generations. The Club will seek to innovate and grow in partnership with our supporters and more detail will be conveyed in the not too distant future. I ask you to buy season tickets for two important reasons. First, it is vital to the rebuilding of the Club that Rangers is restored to its natural economic power in Scottish football and internationally. As stated above, this is fundamentally derived from supporters attending games because investment from shareholders can make a difference when dealing with funding shortfalls but is not a long-term solution. The second reason is that I believe supporters are being presented with a unique once-in-a generation opportunity to acquire a season ticket and retain it in the family for future generations. The Club is presently at an all-time low but we are on the way back. This is a chance to watch a Championship winning team next season and to look back in the future with satisfaction at the part you played in rebuilding your beloved football team. This is an opportunity your father never had and one that your children should be spared. There is nothing like watching Rangers playing and winning and it is our duty to make sure our children can experience and enjoy that special feeling without suffering as you have done. In addition to the need to rebuild the first team squad we must stop merely paying lip service to youth development. Auchenhowie must become the envy of all and it is equally important that Rangers recruiting systems are also fully restored after years of neglect. All of this will require money and that is why I am urging every supporter to buy into what we are trying to achieve for Rangers. All season ticket proceeds will be fully invested in the footballing activities of the Club. The wrong types have been removed from the Club and for the first time in years there is hope. We can all be confident that there will be no more squandering of money. Hopefully we can share the vision to return Rangers to the pinnacle of the domestic game within two or three years and thus become European regulars again. We can and we must do that because our Club is too big to settle for anything less. So, the average price for a ticket for season 2015-16 is £411 representing a relatively modest 5% increase which is necessary if we are to generate the levels of finance required to achieve our immediate goals. I do not believe we should talk in exact numbers because we do not know precisely how much it will cost to rebuild and restore this wonderful Club. The required funding for this new season alone could change significantly depending on how discussions with our retail partners are concluded. We have to spend immediately to rebuild the football staff at all levels but we can’t say for certain how much it will cost to forge a team to win the Championship. What I can say, however, is that if I, and other investors have to put in an extra £5m for this season that’s what we’ll do. If it requires more, for instance £10m, so be it. The crucial point is this: We can only do this together. We must all invest in our Club’s future. This is the only way we will regain our pride, status, position and credibility. This is our Club, our time and we must make sure we succeed for the generations who have gone before and for those who will follow us. Where ta start..... Fill your boots lads :lol: 0 Quote Link to comment Share on other sites More sharing options...
dave.j Posted June 12, 2015 Share Posted June 12, 2015 The money will be invested in the football activities of the company, I think he meant to say. 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted June 12, 2015 Share Posted June 12, 2015 No EGM thread this time around? I am now fully sleeped up and looking forward to an interesting day. Where's the manager? With the NOMAD? 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted June 12, 2015 Share Posted June 12, 2015 After the good guys won I remember you claiming Ashley would be the better option. If that was the case why is he desperately trying to keep his contracts out of the public domain Because the contracts will be loaded very firmly in his favour, to an extent he preferred remained secret. Did you not read the stuff I said about him being a despicable, morally bankrupt b*****d? Saying someone might be a better option than King, is hardly to say they're a great guy. With Ashley, the club would have been kept in check and would have been run primarily with his interests at heart. With King, literally anything might happen. It might be good for Rangers; it might be utterly calamitous and final. With Ashley, there's less risk. 0 Quote Link to comment Share on other sites More sharing options...
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