shiltrum Posted February 28, 2014 Share Posted February 28, 2014 So Rangers naturally cant have much cash at all in the bank here If Dave King gets his way and nobody buys a single season ticket (highly unlikely) what is the plan here? liquidation & newco? Well IMO if they want their Club to survive it may well be exactly that (again).Truth be told COSTS have to be cut that's a fact it will hinder them for years but have they not already been there and made the wrong choice? They have to live within their means but no one wants to do this as mentioned it will be very slow and hard slog back may have to bite the bullet. Link to comment Share on other sites More sharing options...
hellbhoy Posted February 28, 2014 Share Posted February 28, 2014 If liquidation was a threat the share price would be collapsing, its heading in the opposite direction rising 20% in the last month, £5M added to market cap, there is not a hope in hell that the assets would fetch £20m in a fire sale, looks like the market thinks takeover, I think king is trying to drive the share price down but its not working. Would you like some rosary beads to clutch onto ? Link to comment Share on other sites More sharing options...
hellbhoy Posted February 28, 2014 Share Posted February 28, 2014 TBF Is it not technically correct that The Messiah was also a convicted criminal? THE CASH MESSIAH AD ! fucking CASH MESSIAH , do try and get things right Link to comment Share on other sites More sharing options...
hellbhoy Posted February 28, 2014 Share Posted February 28, 2014 Looks like Mr King does not think so. 'It is correct that any club must, over the long term, operate within its means' Short term - Stop Celtic winning 10 in a row by any means Well you all better dig deep and buy ST's at Pittodrie & Aberdeen merchandise next season then Link to comment Share on other sites More sharing options...
itzdrk Posted February 28, 2014 Share Posted February 28, 2014 Also Why has Dave King chosen now to make such a statement ? How far away are we from the "120 days of silence"? & does Wallace not at least deserve to be given a fair hearing of what his plans are after that? clicky lololol Link to comment Share on other sites More sharing options...
itzdrk Posted February 28, 2014 Share Posted February 28, 2014 Wallace pretty much lied when he said there was no funding crisis and 5 mins later takes a Wonga style loan. Is that amount of shortfall possibly not considered a crisis as they knew they had access to it? or have i misunderstood here Link to comment Share on other sites More sharing options...
dave.j Posted February 28, 2014 Share Posted February 28, 2014 Wallace pretty much lied when he said there was no funding crisis and 5 mins later takes a Wonga style loan. I've been told the 1.5 mil was to clear the PAYE debt due today. Link to comment Share on other sites More sharing options...
hellbhoy Posted February 28, 2014 Share Posted February 28, 2014 Wallace pretty much lied when he said there was no funding crisis and 5 mins later takes a Wonga style loan. That's the Rangers way Tedi, say one thing only to change your mind later and then say another thing © The Clone Rangers est 2012. Link to comment Share on other sites More sharing options...
BossHogg Posted February 28, 2014 Share Posted February 28, 2014 So Rangers naturally cant have much cash at all in the bank here If Dave King gets his way and nobody buys a single season ticket (highly unlikely) what is the plan here? liquidation & newco? Liquidation again, that way he and the blue knights get Rangers for buttons, also he gets to rip up all those long term woeful deals Green signed them up to . Link to comment Share on other sites More sharing options...
Jambomo Posted February 28, 2014 Share Posted February 28, 2014 If the club have refused Kings money they will have had a good reason, Wallace might be lying about the crisis bit but he doesn't seem stupid and if it was genuinely offered, and offered in better terms, he would have taken it. I suspect that if King has offered it at all (and as we saw with the whole SFA conversations about being on the board thing he's given to having made up conversations) it's in such terms that he's either buying a stake in a future Rangers or in some other terms that are unacceptable to Wallace. Link to comment Share on other sites More sharing options...
DeeTillEhDeh Posted February 28, 2014 Share Posted February 28, 2014 On 14 June 2002 BBC News reported that King faced eleven counts of fraud when he appeared at the Regional Court in Randburg, near Johannesburg. He was alleged to owe the South African revenue service almost £60m. King eventually reached a plea agreement with the South African High Court where he pled guilty to 41 criminal counts of contravening the South Africa Income Tax Act and agreed to pay a fine of 80,000 Rand per criminal conviction or 3.28 million Rand in total. King also agreed, as part of the deal to drop the other 281 criminal charges he faced, to pay the Criminal Assets Recovery Account of the South African Authorities 8.75 million Rand in compensation. King was originally indicted on 322 counts including fraud, tax evasion and evasion of exchange control regulations, as well as money-laundering and racketeering. The Rangers shouldn't touch him with a barge-pole touching a barge-pole. Reminds me of the sorts of chancers we have had at Dundee like Giovanni Di Stefano - except that King doesn't quite have the Walter Mittyesque charm of GDS. Link to comment Share on other sites More sharing options...
Monkey Tennis Posted February 28, 2014 Share Posted February 28, 2014 Poll on FF, Q.Do you agree with King`s proposals Yes (and I am a Current ST holder) 528 47.14% Yes (although not a current ST) 544 48.57% No (and I am a Current ST holder) 29 2.59% No (although not a current ST) 19 1.70% It's absolutely no surprise. Both sides are to degrees, disreputable. The figureheads of both sides have made dishonest pronouncements. While one however has talked of the need to reduce spending in the interests of becoming sustainable; the other has talked of the need to prevent Celtic winning ten successive titles. Only one winner there. Link to comment Share on other sites More sharing options...
The DA Posted February 28, 2014 Share Posted February 28, 2014 If liquidation was a threat the share price would be collapsing, its heading in the opposite direction rising 20% in the last month, £5M added to market cap, there is not a hope in hell that the assets would fetch £20m in a fire sale, looks like the market thinks takeover, I think king is trying to drive the share price down but its not working. The low was 24p on 14th January and the current price is 29.5p, an increase of 5.5p. With 65.1M shares issued, that's an additional £3.6M market cap. Not £5M. And that's over 45 days, not 'the last month'. The share price is slightly false, in that is rising off the back of very small volumes. 1p of the increase came yesterday on share movements of fewer than 70,000 (1%). Wait until someone tries to move big numbers - the price will be back near its low again. Link to comment Share on other sites More sharing options...
The DA Posted February 28, 2014 Share Posted February 28, 2014 Ok fair enough, however I think you missed the point and it is what it is, there is no such thing as 'slightly false'. 'Slightly false' in that the share price can 'appear' to be rising but only when dealing in the kind of volumes that your average fan would buy. If someone wanted to shift, say, a 2M or 3M holding, the price would sink straight back to the mid-20s. Link to comment Share on other sites More sharing options...
GreenockRover Posted February 28, 2014 Share Posted February 28, 2014 King is simply another cheap talker. A proven liar and tax cheat. The argument of who offered what to who is, yet more, pish corporate semantics designed to make the other party look bad and get the masses and media howling at ghosts. As has already been pointed out, the bloke that promises early success and copious (excessive) spending will always get the mouth breathers clapping like seals whereas the bloke saying the old ways need to be culled and a new approach adopted, which might mean a delay to success and spending, will be shouted down by the very type of people the Club could do without but whose money is crucial. The very definition of "a rock and a hard place" I do wonder what the tossers at the SFA /SPFL are making of all this. Probably sitting under their desks hoping the noise will die down and the whole country will simply forget what a monumental cnut they've made of it by attempting to protect the species for future TV deals. Link to comment Share on other sites More sharing options...
bennett Posted February 28, 2014 Share Posted February 28, 2014 Of course you have Dave Remember Dave has a top source at the club, who doesn't sell burgers lol Link to comment Share on other sites More sharing options...
dave.j Posted February 28, 2014 Share Posted February 28, 2014 Remember Dave has a top source at the club, who doesn't sell burgers lol Jim jones, mate, Jim jones. ;-) Link to comment Share on other sites More sharing options...
phasma ex machina Posted February 28, 2014 Share Posted February 28, 2014 Kudos to ALV who came up with an emoticon for the tax cheat. Link to comment Share on other sites More sharing options...
hellbhoy Posted February 28, 2014 Share Posted February 28, 2014 The fact that you are asking the question demonstrates all we need to know, the fans need transparency, this board are offering none. Meanwhile they are continuing to try and silence those asking the questions, they tried to block fan groups being interviewed. Put up and shut up is the message coming from Wallace. So it would now appear that Wallace's untarnished reputation is now in question after the fans giving Wallace the thumbs up for the 120 day assessment, is it fair to say that the 120 day review is now just another smoke screen so that the spivs have 4 months of not being pestered by the fans to do whatever the feck they like without any questions asked ? Link to comment Share on other sites More sharing options...
Monkey Tennis Posted February 28, 2014 Share Posted February 28, 2014 Both have One paid it the merest lip service before his usual appeal to the worst instincts of the worst fans- that bottom 90%. The other has talked of how current spending exceeds what it must in the top tier, let alone the third one. As I said, only one winner. Link to comment Share on other sites More sharing options...
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