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Big Rangers Administration/Liquidation Thread - All chat here!


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Given this elastic approach to language, Humpty, I can understand why you'd be confused about the difference between administration and liquidation.

Yes, this elasticity is terrific. It means you can use "old" when you in fact mean "new".

It must be the key to all this doublethink they get to indulge in, when separating clubs from companies and suchlike.

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Ok, having read that, I'd now say there are two possibilities:The first is that this is indeed a wind-up. If so, fair play - it's been quite entertaining.The second is that this is not a wind-up. If so, Martin is really not the type of individual we should be mocking - I mean it.

When rangers media members are calling you a keyboard licker then you really need to buy that mirror.

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Re Kings statement. It essentially reads as "People are complaining that they haven't heard from me for a while, so here I am repeating some things that I said before so that you can't say you haven't heard from me for a while".

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Kings statement is simply a diversion. Keef Jackson in the record called him out regarding transparency and he's basically shifted focus to the retail deal again. Not answered anything. Just a statement of platitudes

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Kings statement is simply a diversion. Keef Jackson in the record called him out regarding transparency and he's basically shifted focus to the retail deal again. Not answered anything. Just a statement of platitudes

what do ypu want transparency on?

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what do ypu want transparency on?

Keith jackson called for transparency, it was one of the many things King said. Like Nomad, childs inheritance, over investing etc. It just seems someone called him out on it and he throws out that statement.

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Keith jackson called for transparency, it was one of the many things King said. Like Nomad, childs inheritance, over investing etc. It just seems someone called him out on it and he throws out that statement.

what do you think he has not been transparent on?

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See that's the problem with shameless liars.

They don't tell the truth and are usually good at diversions.

Rangers fans will leave King alone as long as they're winning and top of the league.

If this season was going the same as last, they would be hounding King about spending his kids inheritance and demanding answers to how much money Rangers have and when it runs out

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what do you think he has not been transparent on?

Have a wee read and then see if you spot what keef is asking

Keith Jackson: Rangers are no longer a freakshow but it's gone too quiet.. it's time for Dave King to reveal his long-term financial plans for the club

06:00, 26 Oct 2015ByKeith Jackson,

dailyrecord | 06:00, 26 Oct 2015

ITS now 234 days since Dave King successfully routed the previous Rangers regime and, in so doing, brought a measure of calm back to a boardroom which had been ravaged by unrelenting scandal.

In that respect, on March 6, as King and his right hand men, Paul Murray and John Gilligan, stormed up the old staircase, they were liberating their football club. Freeing it from the clutches of those who had done it so much harm and caused it so much shame.

And so, on that day, everything changed.

A new board was installed and it was, in the main, accepted also that these men - each a lifelong Rangers fan - would act in the clubs best interests rather than indulge those of their own. They had arrived to save Rangers. To restore a club, not to pillage it. Of that there was never any reasonable doubt, even if Kings brusque manner and his raft of South African tax convictions made him a man of some mystery.

Today, just shy of eight months on, the evidence is stacking up of delivery on all of these good intentions. A great deal of good work has been done.

Rangers are, first and foremost, going about their business primarily as a football club once more not the grotesque freak show which it had become. Yesterdays win at St Mirren, while hardly spectacular, was an 11th straight league victory for a team which is romping towards promotion.

They have appointed a capable, contemporary manager in Mark Warburton and just recently they have furnished him with a head of recruitment in Frank McParland, and also an expert in analysis in Neil McIlhargey.

Rangers Chairman Dave King (left) and manager Mark Warburton

A managing director has been secured as well as a new commercial chief.

Its all fairly routine and standard stuff, granted, but none-the-less all of these appointments are indicative of a club which is being nurtured, healed and regrown from the inside.

During this time Rangers have been quietly getting back to business just as King promised they would which will be a relief to those supporters who could no longer cope with the daily embarrassment their club had become.

But heres the thing. Its actually gone all a little too quiet because there are some hugely significant questions - most of them money related - which remain unanswered and Kings low profile, long distance leadership has, in fact, created an information vacuum. And into this vacuum all manner of malicious and ill informed gossip is slowly being poured.

There is noise now warning of another financial collapse before the end of the season, of Murray Park being padlocked and all manner of other apocalyptic forecasts.

The truth of the matter is no-where near as dramatic. Yes, Rangers will need more money to get through the current campaign and that cash - probably something between £2m and £3m - will almost certainly come in the form of further soft loans from King and co-investors George Letham, Douglas Park, George Letham and George Taylor.

But while this seems the most likely solution its up to King to provide the detail because his latest period of extended silence has left some well used question marks hanging over Ibrox again. They will remain there until that cash has been pledged because, without it, Rangers will be back on the brink.

SNS Group

So King really ought to start coming up with some answers.

Occasionally, throughout his time in charge, he has flown in from Johannesburg to launch sporadic bursts of PR but never once has he given a definitive on where this club stands financially and how it can continue to exist without raising some serious amounts of fresh capital.

If anything, the figures have been brushed over or fudged. The rank and file, meanwhile, are simply expected to take this obfuscation in good faith which is what, in most parts, they have done. But 234 days in, surely even they can see the need for substance and clarity from behind those boardroom doors.

On the eve of the big purge back in March, King came striding through the arrivals hall at Glasgow Airport and, as he spoke of his impending victory, he also made a promise to end the culture of cloak and dagger dishonesty which had become the way of things over these previous few years.

He said: It will be a long road but as long as we travel that road together I guarantee the fans absolute transparency and accountability.

If theres one thing thats been missing at Rangers over the last couple of years I believe its not just the ethos and the level of respect but I think transparency and accountability has been completely absent.

Of course, he was correct. Bang on the money.

VIEW GALLERY

So it must be asked then, where is his masterplan for Rangers? If former chief executive Graham Wallace was hounded for needing 120 days to compile a business review of this football club then how can it be that this new, vastly improved board have gone 234 days without cracking a light about their own medium to long term financial strategy?

Of course, to cut them some slack, King and his directors are also having to deal with the extraordinary circumstances which are about to be played out in Edinburghs Court of Session, where the bogeymen of this clubs recent history will soon gather together again for the trial of the century.

It could well be because of these proceedings that Kings plans have had to be stalled because, for as long as this case remains active, there is not the slightest hope of the club raising funds from offering new shares to the market. Which is why more loans from current directors will be required as working capital to keep the club ticking over at some point in the New Year, bridging the gap until the next wave of season ticket money starts washing into the bank account.

Which does beg a couple of obvious questions. Just how deep are their pockets? And for how long will they be willing, able or required to dig deep into them?

But thats not all because King has also spoken about his desire to help Warburton tool up for re-entering the top flight and if he is being genuine about that and true to his word then the size of this next flurry of hand-outs will have to be significantly increased.

Dave King, Paul Murray and John Gilligan celebrate after their boardroom takeover

Long before he finally won his battle for control King also talked of his intentions for this club and with a hubristic flourish said he had set aside a sum of more than £30m of his childrens inheritance for the project.

So far, 234 days in, he has signed a single cheque for £1.5m which went into the clubs coffers shortly after his coronation as chairman. So again, the question is, how much more is he actually prepared to invest? And, for that matter, what is the true scale of his ambition?

Todays Rangers are being run with diligence and prudence. One day soon this perennial basketcase may even be living within its means.

But, on his last visit, King has spoke too about a need to over-invest in the early stages of this rebuild by funding Warburtons recruitment. He has been pilloried for the use of such bullish rhetoric and bold promises but if he was being serious then very soon, in the January sales, he will have to make good on his words.

If, on the other hand, he has scaled down his grand plan then so-be-it. It would seem like no bad thing, after all, if Rangers adopted a more realistic approach to their spending.

Either way the time has come for King and his men to deliver on those promises of transparency and accountability. One thing is certain, Rangers require money from somewhere. And soon.

So how much of it is King really good for? And when does he plan on stumping it up? After 234 days at the helm, its time these questions were answered.

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Without going down the route of 'tick tock' and 'admin 2 is looming' or anything too dramatic.

Surely it is clear that Dave King is full of shit. He has deflected every question about his prospective investment of funds.

He gives nothing but meaningless rhetoric and hides behind this court injunction etc. He is quite clearly full of pish!

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What's Glib and Shameless not been transparent on?

I'd make a stab at 'pretty much everything he has ever said and done'

I don't know who you're referring to as glib, but I assume it must be the Aberdeen team when they lost their form

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