Rangers Finances

 

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23 Feb 2017 09:51:38
if bdo win the tax case and Sue duff and Phelps for 30 million, the creditors may get paid in full.

which begs the question can oldCo come out of liquidation?

Agree0 Disagree4

23 Feb 2017 15:33:21
You clearly don't know what liquidation means- dead, deceased, passed away, no longer exists.
Have u seen the parrot sketch on monty python lol.
Its about as real as Triggers brush.

23 Feb 2017 15:58:13
actually mate a judge in a court of law can overturn liquidations if all debts are paid.

and by the way rayman99 old are in the process of liquidation, the process is not complete yet.

19 Feb 2017 17:33:54
A think king should come out and the the fans what's happening instead of hiding over in SA not when he's looking for season ticket money in the summer what do yous think fellow bears

Agree8 Disagree2

20 Feb 2017 10:51:30
Problem with that is would you necessarily believe anything King told us?

19 Feb 2017 16:15:55
so david king came out and said they have invested up to 18 million in the club and prob going have to invest more would be intresting to hear how much of that has came from him i bet very little
If rumours are true and other rangers investers are becomeing very wary of david king and his failure to invest like promised.
and there others out there that are willing to invest but not willing to work with king.
then i think king should consider his postion as chairman.
because wee need club rebuilt from top to bottom and a chairman so far away is not good enough he can not give the club his full support from south africa while we rebuild he has tain us far as he can has stabilsed the club but now squad needs a serious overhaul and scouting network and do do this we need funds and king seems to seriously lacking that even tho he previously said he alone would invest 30 million in the playing squad

Agree10 Disagree2

20 Feb 2017 08:57:36
as I said previously, DK's rhetoric went from HIM investing £30 million to WE need £30 million investment.
Another shyster and grifter conning the hard working supporters out of their money.
Club was sold to Green even although there were higher bids submitted.
Wonder of the mob who pushed the Yank and his money away are happy now?
Strong mumbles of another admin starting to be heard by quite a few people.
Would hate to think there is any truth in this as that would be it if so.

20 Feb 2017 09:40:52
David king promised a lot of things and so far has failed to deliver on any of those promises or backtracked on him self and the way he handled the situion with warbutton is a shambles time for him to step aside and let others invest
He is only intrested in getting the share issue threw and when this hasn't happend there has been no back up plan

20 Feb 2017 15:16:43
I, ve said this in the past but maybe nobody cares what I think?
To invest means you are looking for a future return on monies invested.
I do believe he has spent big money in our club but IMO it was to increase his share holding so in return reducing ASSWIPES strangle hold over every vote that had gone on with bad buisness contacts put in place ie strips, naming rights ect.
Many big fights are going on in the background and I do hope King wins allowing him the chance to do what he promised if not sell out to a major investor. We all know the name banded about.
Or is the just BULL also.

17 Feb 2017 21:29:46
Seen all the news articles and journalists mocking rangers board for not answering any questions but I just assumed rangers would be advised not to discuss anything with anyone till the legal case has been resolved? So surely the board are doing the right thing by not making public statements

Agree6 Disagree3

18 Feb 2017 13:15:12
They started with the public statements, oh the irony.

20 Feb 2017 08:59:56
Fair point Kwaj, Mr King led the way instead of keeping his mouth shut.
How is it this club has been able to attract so many conmen in such a short space of time. I see DM is keeping a very low profile.

20 Feb 2017 15:12:45
Does that include the conman who signed 14 out of 19 players all through his daughters management company?

16 Feb 2017 23:51:24
How much does people think it will cost the club in compo for warbs and the other 2. I don't think the club will have any written resignation letters, I think the board will have to pay them off, but I'm still glad they got rid of them after they all tried to worm there way back down south, now I know why warbs and weir never moved their families to Scotland, they never planned on being here for the long haul.

Agree5 Disagree5

15 Feb 2017 13:26:49
My wee niece works at Ibrox and the board have been rattled as MW, DW and FMCP have started proceedings against the club for compensation.

New contracts were signed in July 2016 and the estimated pay out for all 3 is 2 million. Further to that MW is suing DK for making false allegations about the resignations.

MW is raging and wants to take him to the cleaners for the way DK has treated him as a manager. They are in the process of a court hearing to get 3 million ring fenced due to this.

Everyone has been startled at the speed MW has done this. The Chinese whispers are that the board are raging with DK for doing this as most of the high command are saying the resignation never occurred.

I personally think DK needs to step down as he is an ego maniac that wants to spend OUR money fighting people in court.

Agree9 Disagree9

15 Feb 2017 14:01:14
DK put out a very strong statement regarding the 'resignations. '
If, as you would expect, he has the resignations in writing then there is no issue other than any personal case MW might wish to raise relating to him personally.
IF, as I personally suspect, there is nothing in writing then DK (and the club) could be facing some serious financial penalties regarding this statement and consequences.
Looking at it objectively.
Management Team has won promotion to the top tier.
Management Team was awarded a substantial wage increase in recognition of their success and to encourage them to remain at the club.
Still possible to win the league (highly unlikely if being practical but mathematically possible)
Likely to finish in second place which could mean Europa League qualification (and the revenue involved)
Could win the Scottish Cup (again EL qualification and revenue)
So DK cannot say they were released due to poor results overall. And, as I said previously, if there is nothing in writing then the management team could sue for unfair or constructive dismissal.
Why is it always a case of stumbling from one mess to another?

15 Feb 2017 18:39:59
I believe Rangers Board have made a mess of this. The club is skint and there will be a penalty to pay Warbs and his lot. The man is business orientated and when he says he never resigned then that will be the truth. No signed paperwork in place and not compliant with employment legislation. Not only contractual issues but also professional issues relating to damage to reputation.

Furthermore it was interesting to read the press destruction of Kings most recent statements. In all a shambles, and for the primary excuse then tell me any SPL manager who does not want to progress to the EPL.

We had a team in place, a strategy in place, and a vision. Unfortunately the budget was not delivered. OK, some unlucky hiccups along the way. The loanee's will be pulled back to their base asap, and there will be others wanting out. In all there will be a total lack of moral. So it will be a new manager, a new team, and we will have gone back 18 to 24months, and another massive dent in the financial debt.

They say onwards and upwards and we were getting there, alas the conclusions from last weeks events suggest that is definitely not the case, in fact a worsening situation. Goodness, a youth team coach with no managerial experience in charge. Is this Glasgow Rangers?

15 Feb 2017 20:25:56
If DK had any grounds, the management team would have been dismissed and the word resignation wouldn't be anywhere in the equation

Chasaboy

16 Feb 2017 23:55:33
DK did the right thing and I'm pretty sure the board are right behind him. If I ran a club and my management team had been sneaking about trying to negotiate an escape route then I would march them straight out the door. We need commitment! Not some charlatans who get itchy feet the minute things get tough.

17 Feb 2017 11:53:56
It's not about DK doing the right thing, it's, did he follow correct, legal procedures. If not his competence comes into question!

chasaboy

20 Feb 2017 09:05:41
Exactly chasaboy. can't react with the heart when there are rules and regulations along with consequences for breaking them.
Much as MW has publicly stated he had a great time at the club and met some lovely people, he will want to crush DK as much as legally possible from a business and a personal point of view (particularly after that written statement)

12 Feb 2017 16:53:18
Big Senderos looked like a poor man's Konterman today and Halliday only gave the ball away in dangerous positions about three or four times.

Still a wins a win.

Agree0 Disagree0

13 Feb 2017 21:24:58
Senderos at fault with defensive header that provided Morton boy with great opportunity. Think he adds physicality and cover to defence at set pieces and provides an attacking threat at corners for us. Much better than Rob and I would keep him in the team. Would like to see Wilson along side him. Halliday no comment.

12 Feb 2017 14:09:55
Another legal battle looming with Warbs and Co. Personally I don't believe a word that comes out of Kings mouth.

Agree10 Disagree3

12 Feb 2017 16:06:49
Which of our last 10 Chairmen did you believe?

Was it one of the ones who helped strip our club bare or perhaps one who hocked us so deep with the bank that we were left teetering on the brink?

12 Feb 2017 21:48:30
I turned on Clyde yesterday and the character assassinations of Warbs and Weir was outrageous from Keevins and DJ.

Whatever we might might think of the tactics of MW and DW this season I don't remember them ever been caught out lying. Unlike someone else involved in the dispute.

13 Feb 2017 22:01:29
Yes naz, and never heard DJ or Keevins ever saying anything against him before, Jim trainor tactics all over it, and think Sutton is right about DJ, he is a cheerleader

15 Feb 2017 14:03:10
Memaself, spot on. Regardless of anything else, Sutton calls it as he sees it.

11 Feb 2017 15:36:50
I'm hearing rangers could face a lengthy legal battle for compensation from our management team. Well played Davie boy, another legal battle that could end up costing our club millions. this is beyond a joke.

Agree5 Disagree7

11 Feb 2017 16:12:30
And you would have done what Yogi? Too many joke comments I'm afraid

13 Feb 2017 03:15:50
Don't know how Warbs etc can go for compensation he had a meeting with Forest he had a job lined up by all accounts he resigned! I do not know why our club is different to others WHY did we not receive interest from Forest about wanting to talk to Warbs? Surely its the same as wanting a player? The only way King can whitewash this court battle is if he has evidence of Warbs resignation yeah please tell me if I'm going mad or is what I'm sayin correct!

14 Feb 2017 03:17:58
Don't think it will be a lengthy trial. King admitted that the board terminated the management teams contracts. I'm expecting an out of court settlement with a gagging order to prevent MW and co spilling the beans on the shambles that is our club under King et al

15 Feb 2017 14:05:58
Andy, if nothing in writing then they can deny it and sue for unfair dismissal not to mention character assassination by DK in that open statement.
Maybe a court case would force DK to spend some time in Scotland where he should be when running a club this size

10 Feb 2017 23:32:15
The money spent falls way short of what was promised by Dave King. A couple of million quid is nothing for half a dozen players, even in Scotland. The board need to fulfill their promises or we will only ever make up the numbers in an increasing poor league.

Agree3 Disagree8

11 Feb 2017 16:13:28
Brownie, have you read the statement from DK that addresses investment and progress?

Seems to be quite clear to me

11 Feb 2017 18:56:59
I have read the statement BR65, and it stinks of waffle. If that convinces you that our club is on the right course, God help you.
First of all I would ask him to explain the 18million investment, and then the subsequent input.
His statement, although I hate to say it, has been summed up in a post by one of the east end posters -------- " He tells us what we want to hear, so that he gets the season ticket money out of us. " Well I can tell you until he is open and honest he gets eff all out of me.

11 Feb 2017 19:06:27
Billyb, although it may be initially hard for DK, I believe, with time, he will get over the fact you will not put any money towards the club.

11 Feb 2017 19:13:48
Sarcasm is the lowest form of wit, Cuillin. I might be one voice but I guarantee that there are many more of the same ilk.

12 Feb 2017 04:04:54
Funny tho Warbs spent 18 of his 30 mill investment who's he fcking kidding

13 Feb 2017 03:23:23
Why can't King offer Souness's mate (can't mind his name) the opportunity to invest? Or did he want full control? Surely a business minded person knows that their is money to be made! And by chipping in reduces the gamble but increases investment!

Also regarding Red Bull if they got involved would that not mess things up for Europe? Bears please tell me! It seems obvious to me but maybe I'm missing something?

13 Feb 2017 22:06:19
I think king includes his share buying and loans in all that £18m spent, a player is bought by the club not by king, as is the wages. The guy is another big fraud, who yet again splits the support, and a lot of blind faith being shown again, the amateurish handling of the getting rid of management team should be ringing alarm bells, not plaudits

15 Feb 2017 11:39:19
Thank you Memaself, a warchest, to a manager, is to BUY players, and not to paint the ladies toilets.

And you would think that a man of his experience would know that loans are not investments, and buying shares, unless under a new share issue adds nothing to the club's coffers.

In recent times the biggest investors have been us, and I believe he has, and is doing us no good.

15 Feb 2017 14:10:27
maybe I missed something but at the beginning DK stated HE had £30 million sitting to be invested. I now see the slick gear change where HE has established that the club needs £30 million of investment.
This reads, to me anyway, that HE is looking to raise £30 million, not put £30 million of HIS OWN cash into the club.
Once again, bleed the supporters and push their loyalty. can't be much more left short of kicking the wife and daughters out with big handbags to raise some cash up Wellingto Street and round the square. lol

 


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