RIFC

edgie · 02-11-2016, 16:23

not sure it is down to the SFa
don't think they have any say in this one
My reading of the rules is that they do qualify due in part to revaluing the good will and making the actual losses less than 30 million and the periods involved

and the Barton debacle shows how poorly they are run, King is a chancer, but so are lots of business men

**St Charles Owl** · 02-11-2016, 19:04

Has King actually put any of his own money into the club yet?? From the outside he has done a decent job in steadying the ship, they are not in the news for the wrong reasons as much as they were, although I realize that could just be a coat of gloss!!

Edgie, I think you are right about the SFA, they may be able to make representations to UEFA over the issue if it arises, but its a UEFA rule and therefore its their decision.

What is the revenue difference for clubs in the Premiership compared to the Championship these days in Scotland??

hibeejim21 · (This post was last modified: 03-11-2016, 11:31 by hibeejim21.)

(02-11-2016, 16:23)edgie Wrote: not sure it is down to the SFa
don't think they have any say in this one
My reading of the rules is that they do qualify due in part to revaluing the good will and making the actual losses less than 30 million and the periods involved

and the Barton debacle shows how poorly they are run, King is a chancer, but so are lots of business men

The SFA are supposed to uphold UEFAs regulations on this,and to ensure that they meet all the criteria. That's partly why they ended up getting liquidated because the rangers friendly SFA turned a blind eye to certain issues in the past. The SFA forward Scottish clubs for European participation,its not true to say they"have no say in this one".

edgie · 04-11-2016, 16:50

(02-11-2016, 19:04)St Charles Owl Wrote: Has King actually put any of his own money into the club yet?? From the outside he has done a decent job in steadying the ship, they are not in the news for the wrong reasons as much as they were, although I realize that could just be a coat of gloss!!

Edgie, I think you are right about the SFA, they may be able to make representations to UEFA over the issue if it arises, but its a UEFA rule and therefore its their decision.

What is the revenue difference for clubs in the Premiership compared to the Championship these days in Scotland??

Rangers have received over 10 million in last 18 months 5 million of that to pay off Ashley's loans and owes 13 million primarily to directors and rangers fans groups
The rest to keep the lights on 2.9 million in September to allow the accountants to sign off the accounts and more "promised" before the end of the season, a minimum of 3.75 million required.
How much of that's Kings ...haven't a clue but its now where near the 30 million front loaded promiced.

as to revenue differences, for other clubs its not a huge amount couple of 100k for TV and similer in season ticket moneys, but at least 3 home games against Celtic and rangers and the cash that brings.
With Rangers they get the TV moneys (negible to them) their big difference is season tickets, up by 5000 sold and price up as well; and the hospitality that goes with it.
So about 6 million extra, but huge extra costs, player budget up by 40 %, running cost up too.
So still not breaking even, losing that 3.75 million this year and accumulated loses of 18 million to date.
So more cash needed, another rights issue, only possible of the get a listing on an exchange ... but with David Cunningham King in charge that's very unlikely

hibeejim21 · (This post was last modified: 10-02-2017, 17:11 by hibeejim21.)

Rangers liquidators BDO are taking the rangers administrators to court. There was always something very,very dodgy about the asset sale of the dead club to Charlie green.

"gratuitous alienation"

Of course rangers were liquidated to protect sevco from any liability over the EBTs. HMRC are pushing this,just before their case hits the supreme court next month.

Fredstersafool · 10-02-2017, 23:18

Warbiola has resigned

edgie · (This post was last modified: 13-03-2017, 17:49 by edgie.)

http://www.investegate.co.uk/takeover-ap...39222798Z/

O dear King and the 3 bears found to have been acting in concert and now forced to offer for every RIFC share.
King also censured for being uncooperative and delaying the process

So he has 31 days to show he has the money and make an official offer for all shares circa 11 m quid

O dear
more hi jinks at ibrox, doesn't seem to matter who's in charge they are all at it to one extent or other.

Is that the war chest used up already??

PS its nice to see an accurate legal interpretation of the old club new club issue.
"In February 2012, old Rangers entered administration and in July 2012 it entered liquidation. Mr King appears to have lost the entirety of his investment. The administrators sold the business and assets to a new company, led by Mr Charles Green, which was later renamed The Rangers Football Club Ltd ("the Club"). Efforts to preserve the team's place in the Scottish Premier League were unsuccessful. The Club then applied to join the Scottish Football League and played the 20l2/l3 season in the fourth tier of Scottish football, rising to the second tier by the 20l4/l5 season and securing promotion to the Scottish Premier League for the 2016/17 season. At the time of writing [5 December 2016] the Club is second in the Scottish Premier League behind their traditional arch-rivals, Celtic"

hibeejim21 · 14-03-2017, 14:10

Be very interesting if the Ashley and easedale blocks opt to sell up won't it ? That's a fair old wedge of cash to find for shares that are virtually useless anyway. Anyway Kingco wanted to dilute the other shareholding not spend money acquiring them.

Kings toxic.

edgie · 14-03-2017, 15:27

(14-03-2017, 14:10)hibeejim21 Wrote: Be very interesting if the Ashley and easedale blocks opt to sell up won't it ? That's a fair old wedge of cash to find for shares that are virtually useless anyway. Anyway Kingco wanted to dilute the other shareholding not spend money acquiring them.

Kings toxic.

For what its worth I would assume they wont.
But I would be willing to bet a couple of quid that Ashley now goes a head with a civil case against king and the 3 bears for his loses due to their concert part.
Just another court date to add to the fixture list The new co are building up.

On court cases the supreme court hearing on the EBTs starts tomorrow. Decision going on pervious will be towards the year end. Expect calls for titles to be striped if the decision is upheld.
might be going for 50 by this time next year.

hibeejim21 · (This post was last modified: 15-03-2017, 16:26 by hibeejim21.)

Courts confirm rangers were not relegated/demoted in court today in the coral v Kinloch case.

[180] However, as submitted by Mr Sandison that is not what happened to Rangers. It was either unchallenged evidence or a matter of admission, that what happened to Rangers at the material time was this: the Rangers Football Club Plc sold inter alia the one share in the SPL to Sevco Scotland Limited. That sale required the approval of at least 8 of the members of the SPL. That application was refused. It was thus no longer eligible to play in the SPL. It thereafter applied to the SFL and was permitted to join the lowest league of the SFL (the five part agreement). The foregoing process cannot be described as being moved by anyone to a lower division, or being moved down or demoted. The dictionary definitions are not apt to cover what happened to Rangers. I am satisfied that what did not happen was that the SPL moved or demoted Rangers to a lower division. Rangers ended up in a lower division by the entry into a contract which allowed them to join the SFL in the third division.