Posts: 1,048
Threads: 37
Joined: Sep 2014
Reputation:
3
08-09-2014, 11:14
I'm pretty sure we'd all like to stick to talking about football as much as possible, that being the domain of the genuine football fan, but I thought we should have a thread on here to cover off some of the other stuff that's going on around the club, particularly where it potentially affects our ability to go forward. So let's try to keep it on this thread and keep it on topic. No need to waste time trading insults with trolls.
I'll start it off with a quick recap of recent news. The 2 items of note would be claims that the stadium's naming rights were sold to Mike Ashley for a quid. I haven't seen this actually substantiated anywhere, and it seems to stem purely from a claim in the DR with no backup or documentary evidence, but the Rangers Board hasn't denied it either. It would certainly be a kick in the balls, but 2 things to bear in mind are that it may have been a condition of initial investments by Ashley - in which case we did actually get something in return beyond the £1 - and the general understanding of what our naming rights are worth may be vastly overblown, so the cost of this to us could be in the order of 1-200k per year, not millions.
The second issue is Imran Ahmad's successful ring fencing of 600k+, or about half our cash reserves. Far from ideal and we'll need to rush in cash from somewhere unless we have the decision overturned on appeal tomorrow.
Both of these are legacy issues originating from Charles Green's regime, and not the current Board's actions. Interestingly, the response to these matters of cash depletion from the likes of SoS is, as always, more boycotting. 
Posts: 2,774
Threads: 12
Joined: Sep 2014
Reputation:
1
El Car yer club has been used as nothing more than a way to make easy cash,they are facing sanctions from the SPFL if the players wages aren't met and from what iv'e read ( before ye start Trus i'm only going on that not as a matter of fact) the club may not be able to pay them.
Posts: 1,732
Threads: 16
Joined: Sep 2014
Reputation:
0
(08-09-2014, 11:14)El Car Wrote: I'm pretty sure we'd all like to stick to talking about football as much as possible, that being the domain of the genuine football fan, but I thought we should have a thread on here to cover off some of the other stuff that's going on around the club, particularly where it potentially affects our ability to go forward. So let's try to keep it on this thread and keep it on topic. No need to waste time trading insults with trolls.
I'll start it off with a quick recap of recent news. The 2 items of note would be claims that the stadium's naming rights were sold to Mike Ashley for a quid. I haven't seen this actually substantiated anywhere, and it seems to stem purely from a claim in the DR with no backup or documentary evidence, but the Rangers Board hasn't denied it either. It would certainly be a kick in the balls, but 2 things to bear in mind are that it may have been a condition of initial investments by Ashley - in which case we did actually get something in return beyond the £1 - and the general understanding of what our naming rights are worth may be vastly overblown, so the cost of this to us could be in the order of 1-200k per year, not millions.
The second issue is Imran Ahmad's successful ring fencing of 600k+, or about half our cash reserves. Far from ideal and we'll need to rush in cash from somewhere unless we have the decision overturned on appeal tomorrow.
Both of these are legacy issues originating from Charles Green's regime, and not the current Board's actions. Interestingly, the response to these matters of cash depletion from the likes of SoS is, as always, more boycotting.
With regards to the veracity of information out there, we, as mere fans of the club, have no real way of knowing who's telling the truth. Is a signed affidavit to the court of session in Edinburgh likely to contain the truth? Or are spurious claims from a journalist with an already dubious past history in getting things very, very wrong indeed likely to be true? 
Like you, I have no idea where Jackson got the £1 sale figure for the naming rights from, and we have no idea what the full terms of that deal - if it ever happened at all - are likely to contain. At this point in time the whole story is conjecture. The whole thing might be a scare story by Sandy Easdale designed to further tar Charles Green (not that he needs any help) after his huff and puff last week. Who knows? If it's true and Charles Green sold the rights for a quid, what can we do about it anyway? Spilt milk/no point.
As for Ahmad's ring-fencing - I'm not sure it matters that much. There's money in the bank to cover it, and we still have £2.7M funds from Sports Direct that are not immediately available, but presumably can be used as collateral for a loan if required. On top of that, we have investors ready to fully subscribe the share option (according to the signed affidavit) which will take us through to the AGM-approved full share issue, and there are other short-term financing options available too. However, if the Rangers QC's reason for appealing the decision is correct (on a point of law) then the case will be thrown out on Tuesday anyway. Whatever, I don't think it's a serious issue, to be honest. The wages will be paid when they are due.
And the trolls? Well, they're desperate for us to fail, and they'll suspend all reason, logic and common sense to come to that conclusion. They paint the blackest picture possible, because they want it so badly it hurts.
There's plenty of so-called journalists who fit that bill too.
Posts: 2,774
Threads: 12
Joined: Sep 2014
Reputation:
1
If Ashley does give out a loan Trus (if need be) do you think he will hold a gun at the clubs head?
Posts: 1,732
Threads: 16
Joined: Sep 2014
Reputation:
0
Define "hold a gun at the club's head".
Posts: 2,774
Threads: 12
Joined: Sep 2014
Reputation:
1
You know what I mean trus (why you always a dick?) i.e will Ashley look to take loan shark terms in repayment,lets be honest all he really cares about is money.
Posts: 1,732
Threads: 16
Joined: Sep 2014
Reputation:
0
No, I doubt there'll be Wonga-style APR attached to any Ashley loan. I don't think our board are daft enough, or desperate enough to accept terms like that.
Posts: 2,774
Threads: 12
Joined: Sep 2014
Reputation:
1
I'm no so sure about them no being daft Trus,lol.
Posts: 1,732
Threads: 16
Joined: Sep 2014
Reputation:
0
And you're basing that opinion on what, exactly?
Posts: 2,774
Threads: 12
Joined: Sep 2014
Reputation:
1
Well they're no covering themselves in glory just now Trus, the club isn't healthy and they are overseeing that,now that's not to say they canny turn it around.
|
