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  • 2 weeks later...

I thought things may have become clearer by now - writing "justthefacts" as a topic tag is looking pretty, pret-tay optimistic in retrospect.

:(

So, as far as I can gather, the main movements have been as follows:

1. A share issue of any sort seems as far away as ever. Despite talk of re-listing and the "soft loans" being converted to equity, that doesn't look as though it is likely to happen in the required timescales, i.e. before current funds run out.

2. King has issued a rather extraordinarily confrontational statement, that almost looks designed to place Ashley in the fans' conscience as the source of all problems, or Chief Bogeyman. This looks like cutting off another slightly plausible source of funding, in contrast to King's fairly recent overtures about them working together. Resuscitating the second £5m tranche now looks out of the question, which isn't a big change; but calling-in of the first £5m seems perhaps a little more likely than it was.

3. Director investment as loans to be converted seems limited, if not actually dried-up: conversion, rather than repayment, depends on the value of a loaner's allocated proportion of a rights issue being at least equal to the loan amount. And, of course, depends on an appropriate issue taking place.

4. Director investment as unsecured loans seems feasible, but there has been no sign of these. They may be the only way forward in the short term. Perhaps King's beef with Ashley is something to do with his security over assets, preventing further loans being taken (including from external sources).

5. Fan group shareholdings were ramping up, and there still seems to be an appetite for investing - but again only the release of shares can realise funds through this route.

From my earlier rough estimate, I don't think there can be much cash-at-bank, and there don't seem to be as favourable prospects as a couple of months ago.

But then, who could predict how this is going to pan out? My aim of assessing finances may prove intractable.

In summary, it looks as though a deux is required ex the machina, or an insolvency event looks imminent.

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I'm not going to claim that things are going tits up for Rangers again, mainly because I doubt if they are and I don't know enough to make predictions with any confidence.

Is the insistence of Rangers fans on here that every thing is now definitely moving in an upward direction, not maybe a bit naive though?

I'd have thought recent history might have taught a little caution, but as I said, what do I know?

Edited by Monkey Tennis
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Is the insistence of Rangers fans on here that every thing is now definitely moving in an upward direction, not maybe a bit naive though?

Caution for sure. I don't know any Bear who thinks we're financially secure while there's a gap between income and expenditure.

The amusing thing is watching the diddies' continuing interest in this. Thanks for your concern.

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Caution for sure. I don't know any Bear who thinks we're financially secure while there's a gap between income and expenditure.The amusing thing is watching the diddies' continuing interest in this. Thanks for your concern.

What's amusing about people continuing to be interested in one of the biggest football clubs being financially insecure?

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I'm not going to claim that things are going tits up for Rangers again, mainly because I doubt if they are and I don't know enough to make predictions with any confidence.

Is the insistence of Rangers fans on here that every thing is now definitely moving in an upward direction, not maybe a bit naive though?

I'd have thought recent history might have taught a little caution, but as I said, what do I know?

Now now monkey I'd say that most bears know that we still have problems.

But I did like your wee dig at Celtic.

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What's amusing about people continuing to be interested in one of the biggest football clubs being financially insecure?

It's the old, hackneyed dichotomy between what The Diddies say and how The Diddies act, sadly and this one will never be put to rest.

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