Rangers Banter Archive March 28 2014

28 Mar 2014 12:05:47
Hi Bears, The board has been given the opportunity to take Dave King up on his offer by diluting the share holding, letting King gain power (of which capacity is unknown?) whilst he provides much needed finance. It seems by yesterdays statement that the board are not interested in this offer and are trying to panic the fans into making season ticket purchases. The only conclusion can be that Laxey, The Easdales, Blue Pitch, Margarity, Any other shareholders do not want to dilute their holding and have instructed the board to make this statement. I find this very short sighted.

Would it not be better to make Rangers a real fighting entity, one that can compete with Celtic from the offset and hopefully gain entry to the Champions league - where the real money is. These shareholders seem to be content with taking dividends, season on season from the fans season ticket cash. Where will a further cash injection be gained when Ranger is such a toxic investment at the moment.

The board stated yesterday that "if the fans withhold season ticket moneys we will be forced to find other finance to keep the club/business going". What will this be secured against. have a guess! This is a thinly veiled threat. Play our game or we're taking the ball away.

We are faced with two options and I would be interested to see what the fans are thinking. Possibly this would be better being submitted into a vote by the Ed?

Option 1: We buy season tickets, whilst financing the club. This is putting more money into the coffers of what seems to have be a board that throws good money after bad all the while treating the fans with contempt. Plus side it keeps the club going.

Option 2: We pay our money into the the season ticket fund which then requests security over Murray Park and Ibrox Stadium, safeguarding these. Keeps the club afloat but also let's Dave King in. if indeed he is still wishing to be part of this vehicle.

What are your thoughts bears?

{Ed001's Note - sorry I couldn't get the full options into the poll, I will have to get it changed to allow longer posts in the future: http://www.rangersrumours.co.uk/poll6.html

Great post mate but the way i'm seeing it is they don't have ibrox or Murray park because if thwy did they would give them as security for season ticket money its not just this season but for years to come and at the end of the day it's the fans money they need to run the club and if we do or don't back them we're f****d either way

Thanks Ed

Administration will come after all the assets are sold off. The current assets will enable the club to borrow money, thus allowing them to trade and then when the club default on the loan, they will lose ownership.
That is what will happen should the current threat materialise.
Also, if as you intimate, the assets do not belong to the club, then we have fraudulent accounting as the accounts submitted clearly indicate Ibrox and Murray Park as being wholely owned with no securities against them. I doubt if this is the situation.
The only way to secure control is to have the majority of shares in the club. DK etc. do not appear to favour this route, so our predicament is dire and to hold share revenue in a fund and release to suit is totally impractical.

It just seems that this board are in it for self interest. not running a football club. The money that has been spent/disappeared over the last couple of seasons is shocking. If you take into consideration two lots of season ticket cash, the IPO money and all kit deals we're talking about upwards of 70million.

We are a third division club at present. Where is this money going. My guess on dividends to shareholders.

It's time for the fans to have a real hard think to themselves what they want to do here. The war being wages is between our own hearts and minds in this one.

We have the power to change things. There will always be a Rangers. If the ship is steered onto the rocks once again, i'm sure that Mr King will buy up the club out of a second administration event. He has made it clear that he does not want to buy out current shareholders due to this money not going to the club. These shareholders do not want to lose money for their investors. they will panic. We should not. We have all the cards now. the board have played all of theirs.

Sorry Ed. Last sentence in post 3 should read 'season ticket revenue' and not ' share revenue'. Sorry, but brain wasn't keeping up with typing.

Airus blue. Your heart is in the right place but I think you better check your deck of cards. Our cards are all bluff and if it is called, we are up the creek without a paddle.
The current investors will recoup their money, via the assets, leaving our club with nothing but memories.

Until someone who's trustworthy can prove the club own ibrox and mp then ill assume they don't and

BillyB, i'm sure that you are correct in what you are saying. I fear that this will be the case also. however, we have a say prior to season ticket monies being required. I truly hope that the fans think very carefully about what they are wanting to do here.

If we withhold the cash we can bargain with this for a set time, after that the game will move onto what you have described. I would love it if Dave King just bought out Laxey and be done with it. He won't however going by statements in this weeks press. It is indeed a game of chess with these shysters. but we have been through far worse in the last two years and lived to tell the tale. Hope and belief only go so far. now is the time for pragmatic though as to what the next move will be. It's down to the individual now. not any fans group. I would hope that votes can be based on rational though rather than the fear that is being thrown out there at the moment.

28 Mar 2014 16:16:15
Time for a bit more from Dave King, who knows the 120 days review is a nonsense and also that there is 0% chance of the board agreeing to guarantee security of assets in a deal with the Union of Fans in exchange for them continuing to buy season tickets. And if anyone in the UoF believes they will they then they're a fool.

The lunatics are in danger of taking over the asylum if the season ticket money is withheld there will be no administration it woul be full blown liquidation they hold security over everything can sell everything up keep the money that's the end before u atempt this full hardy project think of the damage that could happen I have been saying the only way of saving club is buy there shares I have posting this for weeks

Airus blue, I just wish that I still had that youthful optimism, but to vote for this season ticket fund, in my opinion, is a total waste of time as it will not be accepted by the board.
I hope this old stager is wrong but I feel that the current investors, with a stranglehold, will not let go. They are not interested in our great club but their motivation is how much they can make.
I cannot disagree with the depth of feeling behind the plans, just the methods.
If there was a solution to our predicament I'm sure one of our own would come with it. I don't doubt DK's credentials but I think he finds himself between a rock and a hard place.

Questions for the bears out there who don't actually own a pair of blue tinted specs.
1. Who do you think owns the assets?
2. How much do you think the assets are worth?
3. Who would buy the assets?
Over to you.

RE 10) spot on, anything like this and we will never have ''THE GLASOW RANGERS'' again Let me be clear I am not a fan in anyway of the current board, but so often people with MOUTH and nothing else (certainly unwilling to put up cash) create situations that are completely detrimental to this wonderful club, McColl, Murray etc. perfect example of this, seems to me anyone that claims to be true blue and only have the club at heart gather support regardless and they seem to believe this gives them some right to be a major influence in this wonderful club, I have said before but current attitude will chase any investor, we chased americans and others because fans wanted no one that did not hoist the ''we are and always have been real rangers men'' believe me our attitude is creating a situation that does not bear thinking about, well maybe I am wrong and McColl and co might reappear with wads of dough, then again track record says maybe not.

To 12. )
Per the accounts:-
1. Rangers [ lock, stock and barrel. ]
2. DM Hall's valuation is the asset value, but a secured loan of £7-8m would acquire them.
3. An asset stripper. [ per chance there may be some with money invested at present. ]

@14 this is laxeys usual business model buy in cause trouble at boardroom level then step in and buy up the assets

OP You mention these shareholders seem content to take dividends year on year (or words to that effect) My understanding is shareholders only get dividends when trading is good- in profit. Ludicrously high salaries and completely undeserving bonuses are paid in loss making companies i. e Banks and Rangers but no dividends.
So either the deluded fools think that the general rule of thumb applies that long term investments generally produce rewards or there is something
a tad murky and bad newsy about this.

Lbj d, if what you say is true Rangers are in deep trouble, if the only way to stop these sharks breaking up our club is to line their pockets by buying STs and shares again so soon after the last issue then they have got us over a barrell.

@17. You don't say? Is that you really just catching on SB? These guys are pros - they know exactly what they are doing and it's all about money. They don't give a hoot about history, familes, pride etc. Just cash and how to get to it, the rest is just flannel, diversion, smoke and mirrors. I want Rangers back, freely admit it, it's only European games and old firms games that I look forward to - but it's looking like you are walking blindly into a perfect trap. Pay up or they sell the assets. They gat their money either way, if they do sell the assets their might not even be an Ibrox to reform round again. Greed has done for you chaps.

@14
1. How do you know? Have you seen the title deeds?
2. Again, how do you know? Their valuation is what? The going rate? What it costs? All conjecture leading to the third question,
3. Who would buy them? Are the stadium, car park and Murray Park to be sold as a going concern or as a real estate deal? Is the land they sit on worth that much?

To 19. ]
1&2. The accounts were audited by Deloitte. Page 15 confirms a combined value of £79.2m for Ibrox and the training facility. The accounts show the assets owned by Rangers and show nothing secured against them.
3. Read, not only what I'm trying to point out, but others who agree on our vulnerability. A small loan [ say £7m. ] could be obtained from a lending facility that would require security. Then if we defaulted in the loan repayment, the assets would be lost.

What shareholder in their right mind is going to loan money secured against assets with a contingent liability, while there is a major revenue boycott going on?

They are paying twice for the same assets, which is just the same as a share dilution, they lose either way.

I'm sorry steerpike but the obvious is lost on you.

Hh joe your 100% right if they can't get profit on there shares they have enough % of shares to liquidate thecompany sell the assets the only thing then the money that was left after the people with guarntees were paid would have to be divided amongst every one that is if anthing was left because ithink u would find the ones with security would be the mysterious share hodres ie blue pitc and margureta