Rangers Finances 2


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26 Feb 2018 07:19:58
Ed could you please tell UJ I've had a long lay down, I'm feeling calm and relaxed. My problem is UJ and his everything will be OK pals have to answer my question. How can we have another share issue with the takeover panel verdict over our heads - answer please. Also my comment about a third of next year season book money being used to get us through this season is folly is still waiting to be commented on. I just can't be as happy go luck as UJ sorry I fear the future of our club. The only pedro signing we got rid of was Pena (still paying half his wage) so our wage bill increased when we needed to cut. Off to work hope UJ and his pals can answer my questions/ comments

Agree10 Disagree4

26 Feb 2018 18:27:46
@IoM - I’ve answered your question previously. We’ll have increased revenue streams from the new kit deal, high earners ( NK, BA etc ) leaving and the £18.72 million fee from the Buffalo transfers.
I would rather be happy go lucky than like yourself who seems to get his knickers in a twist at every wee bit of news .
P.S. I also forgot the CL money😉

26 Feb 2018 20:29:58
UJ stop your messing around ahaha we better look to our future. Not a answer apart from ifs buts or maybe (copywrite big DJ) . So your answer is get a massive kit deal, get rid of our high earners. Sell AM for crazy money, oh and qualify for the champion league and all will be well. Think it you who has been laying down too long mate. Just answer this do you think that using next year money to get us to the end of this season is folly, a yes or no answer will do UJ.

27 Feb 2018 08:47:18
@IoM - none of us are privy to the long term business plan so I'm afraid I can't answer your question. And you can't disagree we'll have increased revenue from a new kit deal and that some of our high earners won't be offered new deals?
Oh and the CL money statement was a joke to reel in our celtic friends who frequent the site but obviously caught yourself hook, line and sinker.
P.S. I did like The Specials reference😉

27 Feb 2018 21:02:34
Lol so I answer your CL line with a oh and the CL and I'm caught hook line and sinker. Think it you that's missing the point mate. I just ask you if you think it's folly to get a loan that will cost us a third of next season tickets money but you can't / won't answer UJ

28 Feb 2018 10:00:01
@IoM - but you don't know that its going to cost us a 3rd of our season ticket money because you don't know what revenue streams are going to open up in the summer.

If I'm wrong I'll gladly come on and hold my hands up. Will Isle of Negativity come on and do the same if you are wrong? Or will you have another bee in your bonnet by that point?

28 Feb 2018 17:11:10
Touchy touchy UJ, I hope I'm on here next season saying wonderful news UJ was right. I might be negative about our off field activities but please remember what we have been through. Most if not all of us said it will never happen in 2012, so bears please be vigilant. Oh UJ I'm still being negative Dave King lost his appeal against the takeover panel so need to find £11m, just reporting the facts mate

28 Feb 2018 20:52:18
Isle of Mull how do you know we’ve used next season ticket money your just assuming this

28 Feb 2018 20:54:10
He doesn’t need to find £11 mil Isle of Mull he needs to offer to buy he shares which will be a lower price that they are at just now so stop being so negative and be happy we’re on the up

28 Feb 2018 23:46:53
Unfortunately gersman, he does have to put up the 11 million. The offer is well above the current value of the shares. Not sure how you are on the up.

01 Mar 2018 07:12:13
Well gers man simple answer is we need loans to get from season to season, our main source of income is season books. Maybe someone will tell us different but our £3m loan from close brothers is to get us to may (money D King said in the accounts he would cover) and please remember in the same accounts he said he would cover the short fall for next season too (over £4m and this could have increased due to pedro players still here and our new signings) . Rumours well this is a rumour site about redundancies in our office staff (these are from the dark side, hope someone on here can quash these rumours.

01 Mar 2018 10:23:19
@IoM - was part of the £3 million not being used for stadium upgrades?
And a question for you. If the courts ruled he acted in ' concert ' are the 3 bears therefore not liable for some of the £11 million?
P. S. we'll make this our last conversation for a couple of days as I've ' talked ' to you more than the wife this week! 😂

01 Mar 2018 18:02:19
Think the takeover panel went for DK as he was the major shareholder. Was told if DK sold his shares the they would go after the 3bears. Catch you later mate missing you already

01 Mar 2018 18:08:11
ABHABH1 I think you will find the 11mil is valuing the shares at 20p I’m sure they are sitting more than that just now and yeah he only needs to find it if the price he has to offer is accepted if not then he will not need to find it and how are we not on the up closed the gap on Celtic and things are looking better so I would say we are ok the up tell me how we aren’t

Isle of Mull yes I’m not saying we don’t need loans but we’ve still spent money taking these loans so stop with the doom and gloom you know as much as the rest of us and is that you trying to make a rumour up again about redundancies stop your starting to bore me

02 Mar 2018 08:40:48
gersman I think you’ll find that plenty will accept King’s offer. We’ll soon find out the true shares value once the prospectus is published and I’m confident it will be a fraction of 20p. I agree things are looking better on the park but I would hardly say you are on the up while you are on the verge of another financial meltdown.

02 Mar 2018 20:15:20
ABHABH1 what financial meltdown are we on the verge of please do explain or am I missing something or is it just you wishful thinking

03 Mar 2018 09:22:42
gersman you are very clearly missing something. You were forced to borrow from lenders of last resort to see out the season. The money Dave King promised the club is now going to be spent on his enforced shares purchases. You already need £4m extra to see you through next season which will probably now double as you have to repay close brothers.

I’m sure the likes of UJ will come back saying we’ll have a new kit deal and European football to make up any short falls but neither of these are guaranteed.
I would describe that as being on the verge of a financial meltdown

03 Mar 2018 15:32:20
ABHABH1 if this was the case why would we sign Docherty for money surely someone that was in a financial meltdown we wouldn’t spend money

03 Mar 2018 18:49:05
gersman - seriously? You know you haven’t paid a penny yet for Docherty?

03 Mar 2018 21:16:33
How do you know this you don’t and even if we haven’t paid anything surely someone who is on the verge of financial meltdown wouldn’t purchase players and the selling club wouldn’t sell as you said they are on the verge surely it would be miss management with Hamilton to sell to us if we’re in financial meltdown as they won’t get anything as I said stop with the wishful thinking as your not going to get what you want you know nothing your just assuming things

04 Mar 2018 11:07:00
gersman I am not assuming anything. Everything is out in the open, if you chose to ignore the facts that’s your choice. But a company who needs to go to a lender of last resort and give up the majority of its assets as security to survive the rest of the season is clearly on the verge of a financial meltdown.

04 Mar 2018 15:35:55
We will agree to disagree then I’m not ignoring anything I just think your reading to much into this just about every company have debt and overdrafts but let’s not get into it you think your right I think we will see at the end of the season who’s right and who’s wrong.

22 Feb 2018 23:33:59
After seeing all the documents from the close brothers deal they are certainly getting there moneys worth on this deal if we default.
Our board are treating us like mugs claiming this is a overdraft facility it is ludicrous and very concering that we signed such a deal
This is the road that ashley ect went down
for me king has got to leave the club he is dragging us down let the other investers run the club and step aside would be best for all invlolved at the club

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23 Feb 2018 08:37:40
See if we pay it what happens then? 🧐

23 Feb 2018 09:32:53
We will more than likley pay it back because it is the fans money that will pay this back not david kings phantom money.
But are you happy they lied to the fans again and tried to fool us into thinking this was a overdraft why not just say it is a loan facilty with close brothers and explained why they needed the loan that is the part that annoys me

23 Feb 2018 09:55:21
Well if it gets paid and the securities are released we move on to next season no harm done is there it’s called running a football club a few people on here are more interested in getting Dave king out than the team we have a big game the mora let’s get behind them and let mr. king and the board do what they have to do off the park any way they have to which might upset a few!

23 Feb 2018 22:18:38
Congratulations to Club 1872 for having reached halfway stage of £1m target ahead of the upcoming share issue.

25 Feb 2018 15:13:33
Bankie. your forecast for the date for the share issue is what.

Next month.

Next season.

Next year.

Till king is finished in court, there will be no issue.

26 Feb 2018 17:04:09
Tendreamer. I am not privy to the full details but expect to be completed later in the year. Believe your knowledge of corporate law is not complete.

27 Feb 2018 08:50:04

You later in the year is still subject to lots of ifs.

If king case concluded.

If you find a nomad.

If anyone buys them.

27 Feb 2018 14:58:03
Tendreamer, you come across as angry and frustrated. Don't you worry about us.

22 Feb 2018 22:10:40
What's this i've just heard from a mate about close brothers. Are we a laughing stock again, that manky mob must be pissing themselves at us am raging man 😠.

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22 Feb 2018 08:55:57
Fellow bears, just had a good look at the secondary loan document, and it makes for grim reading indeed, should we default I'm afraid admin 2 is very much on the cards, it's now time the other directors stood up to mr king and demanded he put up the money he always said he would.

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22 Feb 2018 23:56:56
@billyblue - Admin 2? Behave yourself! Go and have a wee lie down.

23 Feb 2018 09:59:34
Well said Unionjack people are absolutely desperate for us to go into administration and it’s not happening but they think if they say it enough it will happen lol

23 Feb 2018 10:41:50
Billy blue, completely normal commercial arrangement to provide flexibility in advance of share issue later in the year (as approved at the AGM) .

23 Feb 2018 18:33:09
Bankie I ask again (maybe UJ might know the answer) how can we possibly have a share issue with the takeover panel verdict? . If Dave King doesn't stand aside we are in soapy bubble. The way I see it is everything apart from Ibrox ( all the infrastructure is part of security) and MP have been pawned. The season book money will be need to pay back the loan, and £5m of will be needed to pay back that loan ( 20% is off for vat and another million for interest) so a more than a third of our total season book money needed to pay back that loan. So UJ what happens next season when we need the loan in September?

23 Feb 2018 20:37:47
@isleofmull - I’ve never pretended to be a financial expert but we will have increased revenue streams with the new kit deal and access to the CL money when we win 55 in May. 🤣😂🤣
Now I suggest you also go for a wee lie down to take in what I’ve just told you. 😉

24 Feb 2018 09:07:22
This wee lie down line won't cut it UJ, a good diversion tactic but not not a good answer is it UJ. My take is the board has pawned the lot minus IP and MP for £3m loan. Meanwhile in Jim Traynor land we knocked back £9-11m for AM. Does that make sense to anyone on here?

24 Feb 2018 10:00:09
@ isle of mull - you're missing the point. As one of our fellow fans posted above where will all the doom and gloom merchants be when we pay the loan back? You will just move on to something else. The rest of us are just here to enjoy the football. Its a release from having to worry about paying my own monthly bills never mind anyone else's including Rangers.

P.S. Murty said the decision to knock back the Buffalo bid was for footballing reasons. So if you don't mind I'll take his word for it over scaremongers, moon howlers and Begging Bowl Bloggers.

P.P.S. I still suggest you take that wee lie down as you are getting worked up over issues you can't control.

24 Feb 2018 10:28:17
As DJ says its all if, buts and maybes. You have a wee lie down and don't worry about your bills, what could possibly go wrong if you or the club don't pay as they fall. All I'm trying to say is that we will have used a third of the next season book money to get us to the end of this season surely even you UJ can see the folly in that.

26 Feb 2018 18:07:57
The worrying thing on top of the loss of a major chunk of next season’s ticket money is the lack of any discernible plan. The planned share issue isn’t going to happen any time soon, European money won’t be enough to get you lot through the season even if you qualify for the group stages. The only plan I see is inventing foreign interest in Morales to try to generate a bidding war.

27 Feb 2018 14:55:56
We will see ABHABH1, don't you worry about us.

21 Feb 2018 20:39:32
Well fellow bears looks like Dk has lied to us again about just been the carpark put up for the 3million loan we got from close brothers Company house have just released full details they also have the rights to the big screens the Kitchens all PA systems and clubs wifi systems don't like what's going on we also require a million quid to get to end of season the if we didn't get the repairs done we where getting our safety certificate stopped WTF.

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21 Feb 2018 23:30:32
You and your fellow fans are going to have to learn the hard way.

22 Feb 2018 11:16:21
big blue bear, don’t believe we need be too concerned and with true Rangers men both leading and holding the board accountable we will continue to see improved performance both on and of the Park.

22 Feb 2018 12:48:18
Head in the sand bankie?

22 Feb 2018 17:26:18
STYAB, don't believe so, that's why we decisively rejected significant and increasing bids for Morelos. The previous Board and leadership team would have grabbed the first offer.

18 Feb 2018 09:59:49
Fellow Blue Bears,

I am a season ticket holder and was my father and as was his father as is my son and also my grandson. Does this board we have in place actually think us fans are uneducated, gullible, or plain daft? I think a mixture of them all.

It makes me sick when I go to matches and we see the so called blazers looking down on us as if they are high and mighty and we are nothing but mere bits of dirt of the soles of their shoes.

I tried to say "Hello" the other night to one of our board members and he looked at me and my grandson with a dismissive look, I was not pleased at all.
It now makes me think that we are all been taking for fools. This is the biggest financial smoke screen at our club with the PR lies and fake transfer news that I have ever witnessed coming from our club.

I am sick of hearing we are building for the future, what are we building exactly?
Motherwell got a full new team at the start of the season and for a club with the finance they have they are doing pretty good.

Building for the future are we? A team made up mostly of loanees that go back to they parent clubs at the end of the season. People claiming we have a buy option? How on earth do they know that because it doesn't state anywhere we have buy options with the players we brought in January. We have brought in players tat could not get a game in poor teams in England.

Young cummings, if he goes on a roll and plays well. We will either have to pay 2-3 million for him or Notts Forrest will give him another chance.
We are screwed as we are going to need to build yet again at the start of next season.

We need to invest in good young players who we can keep at the club for a number of years. We have very few of them. As for the board, we are in a financial distress crisis and I just wish they would tell us the truth!

{Ed033's Note - You sound exactly like that Celtic supporter, Loan Ranger / Rodney Peckham.

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18 Feb 2018 12:05:40
I think the point being made by ed 33, is don't question anything about the board, their actions or their plans, it's not the rangers way.

Or that anyone who does has to be a Celtic fan in drag.

I know a lot of good rangers fans worried about the running of their club but are too scared to say anything or the bullies on social media will denounce them

Correct me if I'm wrong ed033.

{Ed033's Note - No, the point being made by me is that we have 1 or more posters on here who pretend to be Rangers supporters when they are in fact Celtic supporters.

18 Feb 2018 18:21:16
Roy slater's post doesn't sound like a wind up ed, he sounds like a genuine Rangers fan that hasn't been brainwashed by the current and ongoing bombardment of false positives coming from ibrox. And he would be spot on in my opinion. Got to doth your cap to him, he can see it for what it is. The sad truth is, he will be shot down by the believers.

{Ed033's Note - Roys Slater is a Celtic supporter

18 Feb 2018 18:12:11
@rs - so you are worried about the direction of our club because somebody never said Hello Hello back?
@10 - its a wee bit precious in nature if you are concerned what people you don't even know say about you on social media!

19 Feb 2018 00:26:04
Rodney Peckham? Roy Slater? What name will he hide behind next, Uncle Albert? Trigger Boycie? Just more nonsense from those so obsessed with our club it has taken over both their lives and their grip on reality.

19 Feb 2018 22:06:42
Sounds like Mr Slater is doing a poor job trying I sow division and confusion on behalf of a small section of paranoid and obsessed Celtic suppprts. Why don’t you focus on your team lad, you have a big game this week.

20 Feb 2018 17:56:35
"I am a season ticket holder and was my father and as was his father as is my son and also my grandson. "

Is this some kind of riddle?

20 Feb 2018 17:52:02
Roy slater? Rodney Peckham? lol think this nice but dhim has a fancy for only fools ed 33 he's clearly want to you lot bam bam makes you sick the amount of these imposters that are flooding our pages with there inane drivel.

{Ed033's Note - It's pretty sad pretending to be a Rangers fan.

21 Feb 2018 11:29:47
It's confirmed then Ed. Their obsession is so great they really want to be us! And Bhampot, the term is doff my cap, as I do to Roy Slater who wants so much to be a fan of The Famous!

{Ed033's Note - You might be correct Seeker

18 Feb 2018 08:15:30
With Edminston house now collateral for the banking facility does that mean king and co have no plans for it? I would love it to return to use as the ticket office. Also rumours of asbestos in it which may be why no one is touching it?

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18 Feb 2018 08:59:01
What type of asbestos would that be then? And if no one wants to touch edminston house why would the bank take it as collateral if it’s usless 😂

18 Feb 2018 12:08:44

Should you not be asking why they need collateral as surety against a overdraft. sorry loan.

18 Feb 2018 13:03:46
Because someone made a arse of the Pedro debacle and his signings probably about £10mil a new manager will be coming in and he will want his own money to sign players hence the loan deals!

21 Feb 2018 08:27:58
@10 why did yous need collateral for your overdraft/ loan from the co-op bank?

25 Feb 2018 02:01:19
If its asbestos you just get afew labourers in with demolition cards and masks and boiler suits on to remove it :) i work doing it alot. Its called a ccdo card. I work as a demolition operative which is just a fancy labourer. Its not that much hassle to get it removed :) !

17 Feb 2018 10:01:35
I don't believe rangers knocked back 11M I'm not that stupid for a Scottish club that's huge sums of money for one player .

5M believable
8M believable
10M could true
Over 10M + nah, it must be a PR stunt .

Agree5 Disagree5

17 Feb 2018 14:41:18
No a think there’s some truth in it and it will be a great bit of business by JJ and the back room team 👍

17 Feb 2018 17:46:28
I hope your right thetinman I really do that kind of money would massively help the summer budget.

15 Feb 2018 17:47:14
Why are so many keen to have Mike Ashley back at Rangers? The guys a parasite and is interested only in making money, look at the deal that he had us under! How can that be justified he was trying to bury the club not help us.

No chance in hell will dave king sell his shares to him or get into bed with the guy again so he can profit off the sale of rangers merchandise. New kit deal, open up rangers shops all over scotland again start the revenue streaming straight into the clubs bank accounts and not some fat greedy geezer.

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16 Feb 2018 10:46:46
I seem to remember a 'bunnett' appearing on the east end, and saying from the off that he wanted to make 40mill, and then he was out.
What's wrong with making money? It would surely mean we were being successful?

16 Feb 2018 15:07:14
Would love a "bunnet" at Rangers! He took flak for his biscut tin dealings but a very shrew and clever buisnessman!

18 Feb 2018 09:24:48
and that is the point calvin - he is a businessman.
Ashley might be a lot of things but he sees money-making opportunities which tie-in with his existing companies.
If he wants to be more involved then there is cash to be made. I am also sure he knows there is a need to invest first, (he will have done his homework)
Is he an asset grabber - my jury is out on that.
DK (imo) is a crook and a fraudster. He talks a lot of money but at the end of the day ensures HIS cash is not at risk. How he is still in charge is beyond me.

18 Feb 2018 10:25:53
The difference between Fergus McCann and Ashley related to business principles:

McCann laid out a recovery programme with set projected dates for his exit, with assured rewards for him, however a viable recovery programme was part of that exit strategy.

Ashley, however is not interested in the longevity of the products and companies he buys. Look at Newcastle United, has the potential to be a top 8 club, however Ashley refuses to invest, and in fact pockets for himself through not buying players

If he can turn a fast buck for himself he doesn't concern himself with the outcome for the product or service.

I'd further add, I don't actually believe Ashley is interested in buying Rangers lock stock and barrel but more interested in merchandise or the stadium name.

18 Feb 2018 12:05:28
If he saw it as such a wonderful money making opportunity why did he behave like he did? Why did he not notice the need to invest then? The TV money alone from being in the EPL dwarfs what he could make towing his jumble sale round Europe. The men in charge of every football club are all businessmen, they all try to avoid paying tax (some are better than others at that) and they all use any loophole they can find, yet DK is a 'crook' and a 'fraudster' in your opinion. IMO all businessmen are 'crooks' but Ashley is an evil corporate psychopath (there is plenty of evidence regarding his treatment of workers) who wil never be allowed to set foot in Ibrox.

19 Feb 2018 00:16:25
i do agree with everything you say Big Marv but you seem to think no ones going to let him back at Ibrox am sorry to say this but the only person that could potential put a stop to that is the majority share holder and that’s Dave king who is more friendly with Ashley than you think he is selling his shares and that is that as a keep saying give it a few months pal and you will see but please save your self the embarrassment as it’s going to happen.

15 Feb 2018 16:41:58
Just been reading the document at companies house about the asset finance we have in place with close bros. If we miss one payment they can sell Ibrox and Edmington House. What a joke!


If this does not work go to companies house as the document is listed 13th Feb 2018.

Agree2 Disagree8

15 Feb 2018 17:12:17
Ibrox has nothing to do with deal. Edmiston House and cat park. Also standard to say they can sell something secured against loan look at any mortgage

16 Feb 2018 10:59:39
this deal the board have done is no diffrent from what was the previous regime done.
Why our board now deciding to go to a asset finacing company now to get a loan not a overdraft like they claim is a weird one.
the only reason i can see for this happning is that king has failed to produce the money that he promised and other board members have decided to stop bailing him out and called his bluff and this is the result of this happning.
The lack of scrutiny from the press is kind of weird to they where up in arms when ashley ect was doing this but hardly a peep from them this time

18 Feb 2018 09:26:06
old boys network craig

18 Feb 2018 12:18:05
Which 'old boys network' is this? If your referring to the Scottish media, regardless of how many 'friends' Jim Traynor has the red tops would take any opportunity to print a negative story about us. The fact that they are not doing this suggests that there is no story to spin. As it happens Password I've had the displeasure of meeting most of the sports desks in Scotland and you may be surprised but the majority have green leanings. Not that I'm crying conspiracy, I'll leave that to your lot.


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