Rangers Rumours Archive May 15 2014
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15 May 2014 10:43:34
i see the board are ready to give the fans a legally binding contract to protect ibrox beeing used in sale leaseback security against a loan same has to happen for the training ground if we do give them our money what happens to stadium ect if we do go into second admin no point giving them our cash to run our club for half a season they have no funding in place to run club part from season tickets newshare issue ect is all pie in the sky a lot of questions still need answerd
Any such undertaking though, would not be legally binding on an Administrator, so their gameplan may not have changed much, if at all.
15 May 2014 17:49:16
@2 you may very well be correct mate but can you explain to me why it wouldn't be legally binding to an administrator?
Yes but for 12 months only, they only want our cash they'll be no point digging in again next year cost they'll be ready and waiting or selling and running away it'll be to late 12 month agreement is no use what so ever there business men with a business plan to make money!
When administration orliquidation comes any agreements may by the company be come null and void and the administrator can sell them or do what he thinks benefits the creditors