Ibrox latest...

[Oldermoresensiblepack]

Don't know how to post links but seems that the Police are investigating claims of forged signatures on some documents relating to the takeover.

Handwriting experts reckon that it's not Greens Signature on the Sevco document being investigated. Hhhhmmmm...they wouldn't would they, I mean that's cheating is it not.

[Nuggets]

Had a wee laugh at this story.

 

http://www.bbc.co.uk/sport/0/football/24965357

[MrBored]

From what I read it was more than Whyte had provided documents meant to show that he was a director of Sevro (or whatever it was called). Green was disputing this. It seems that the document that Whyte provided, may have had a dodgy signature, which was meant to be Green's but perhaps it isnt.

...not really a surprise.

[Oldermoresensiblepack]

Had a wee laugh at this story.

 

http://www.bbc.co.uk/sport/0/football/24965357

141 years my arse. Funny how their the same team till paying back the money they thieved comes into it eh?

 

No income tax

No V.A.T.

Spunked your cash on E.B.T.'s

No King no Green

No Gold no White

your team is is dead

you're talking shite.

[rik2304]

141 years? They haven't even existed for 141 weeks.

[Oldermoresensiblepack]

141 years? They haven't even existed for 141 weeks.

they way they are spending the cash this lot won't even last that long.

[Cagey]

Rangers are protesting about Lawwell responding to a question at AGM about the validity of Rangers still using the name with (Rory Bremner can pretend to be Tony Blair). I don`t know who objected as there is no one in charge at Sevco. It must have been McCoist.

 

The spokesman said `Rangers FC now in its 141st year has a proud history`. Yes but Sevco don`t.

[saintscotty]

Rangers are protesting about Lawwell responding to a question at AGM about the validity of Rangers still using the name with (Rory Bremner can pretend to be Tony Blair). I don`t know who objected as there is no one in charge at Sevco. It must have been McCoist.

The spokesman said `Rangers FC now in its 141st year has a proud history`. Yes but Sevco don`t.

Aaaw, poor Sevco. Please Miss, that nasty man Lawwell called us names. This from a team who didn't give a feck when the shoite hit the fan and couldn't or had no intention of settling their debts. Get off your high horse Sevco, i know it's coming up to the pantomime season but this takes the biscuit. Just when you thought you couldn't hate them anymore than you do. No doubt there will be more to come from this car crash of an excuse of a football club.

[Wendy Saints]

Aaaw, poor Sevco. Please Miss, that nasty man Lawwell called us names. This from a team who didn't give a feck when the shoite hit the fan and couldn't or had no intention of settling their debts. Get off your high horse Sevco, i know it's coming up to the pantomime season but this takes the biscuit. Just when you thought you couldn't hate them anymore than you do. No doubt there will be more to come from this car crash of an excuse of a football club.

Are they no 'the rangers' now! Wonder what they will call themselves when they go in to liquidation! Answers please on a postcard!!!!!

[slf]

 a hu n is still a h un

 

whoops 

 

but ye ken what i mean 

[chips]

 a hu n is still a h un

 

whoops 

 

but ye ken what i mean 

 

Jings crivens help ma boab did you put on yer Big Worzel heid for that fella

 

[AthensSaint]

 a hu n is still a h un

 

whoops 

 

but ye ken what i mean 

hi *** ny x

[Tranmere Saintee]

I liked Stuart's theory yesterday along the lines of this is just another tactic to draw attention away from their latest batch of directors etc.

 

Plus, (may be old news I missed) things must be bad when Dundee's chairman knocked them back because they could not guarantee he would still be in the job after their AGM, if it happens just before Xmas.  

[Indicator]

Are they no 'the rangers' now! Wonder what they will call themselves when they go in to liquidation! Answers please on a postcard!!!!!

=====================================================

"Third Rangers" and they'll have to play at Cathkin park when the spivs raise the rent at Ibr.x 

[Indicator]

The Rt. Hon. Campbell Ogilvie intent on perpetuating the 'myth' that there will always be an OF.

 

Statement from Campbell Ogilvie
Friday, 22 November 2013

Campbell Ogilvie, Scottish FA President: “This week, the Scottish FA’s Compliance Officer has reviewed comments made by the Celtic Chief Executive, Peter Lawwell, at the club’s Annual General Meeting, after receiving an official letter of complaint from Rangers Football Club.

“The Compliance Officer has informed both clubs that there is no actionable breach of the rules. None the less, I am compelled to convey my disappointment that we find ourselves in this position, as a result of an apparent erosion of mutual respect between two of our oldest rivals.

“At a time when Scottish football faces challenges on many fronts, it is incumbent on our biggest clubs to set the highest standards. In this regard both the comments made, and the subsequent time, effort and resource imposed on our Compliance Officer to deal with the complaint, were wholly unnecessary.”

[ex-montrosesaintee]

I had a chat with the man who probably knows more about Charles Green and Craig Whyte than anyone yesterday - and while he was appropriately tight lipped about things, he did suggest that The Rangers are doomed, and very soon. He intimated that he has never seen so many people fighting over the scraps of a business without ever having means or intentions to control the physical assets of that business.

He claims to have 'walked away' from it now, although I suspect it is closer to 'no longer being on the payroll' so he's not involved.

Interesting conversation, albeit he was very reluctant to give too much away - he obviously knows a lot more, but his conclusion remains 'doom'.

[garydavidson]

Plenty going on Ibrox way according to the BBC -

 

A furious female former Rangers worker has contacted the Serious Fraud Office with a complaint about alleged financial irregularities at Ibrox.

 

Rangers say they are "completely unaware" of any investigation by the Serious Fraud Office after it was claimed that a former employee had made allegations regarding payments made to shareholders.

 

A group of Rangers shareholders backed by the Glasgow businessman Jim McColl and which is seeking changes to the club's board has called for the financial director Brian Stockbridge to resign.

 

Rangers fans groups will meet with rebel shareholders led by Jim McColl tonight and, while the beleaguered financial director Brian Stockbridge has an invite, he can expect a hostile reception.

[Plastered]

Can anybody shed any light as to why a hedge fund would buy shares?

 

http://www.bbc.co.uk/sport/0/football/25038777

[Abernethy Saint]

Can anybody shed any light as to why a hedge fund would buy shares?

 

http://www.bbc.co.uk/sport/0/football/25038777

 

Hedge Funds by all sorts of things, including shares (and hedges, obviously).

 

Presumably they see some value in the club - either long-term, as it re-establishes itself as Scotland's leading platform for Sectarian bile, or to join in any forthcoming rape of assets. Mind £1.3 million is loose change for them. They will have numbers of diverse speculative buys in all sorts of things, "hedged" against safer investments. Most will fail, but a few will come good big-time.  

[Smarmy Arab]

Hedge Funds by all sorts of things, including shares (and hedges, obviously).

 

Presumably they see some value in the club - either long-term, as it re-establishes itself as Scotland's leading platform for Sectarian bile, or to join in any forthcoming rape of assets. Mind £1.3 million is loose change for them. They will have numbers of diverse speculative buys in all sorts of things, "hedged" against safer investments. Most will fail, but a few will come good big-time.  

 

The smart money is on a lease back of Ibrox.  No doubt Green, Whyte maybe even Minty have told the fund managers there are 10's of thousands of Bears at the ready to throw cash at this mess for years to come.  So a hedge fund could buy a controlling share in one of The Rangersis.........the Club...........company........clumpany.........whatever, for say 5.5 million (off the top of my head ) then lease it back to the angry Bears at the other one of The Rangersis for....say 3 million per year, on a 10 year lease (to begin with) hey presto a circa 25 million clear profit over a decade.  I can't see any other way anyone can cash in on a basket case like Sevco.  As has been said many times before if you see a dying elephant being pecked at by vultures, its safe to assume they are not trying to get it back on its feet, just stripping the carcass for what ever they can get .........and Hedge funds are without a doubt vulture capitalists. 

[babychunder]

Vulture capitalists, good expression that.

 

Let's do a wee calc on the Rangers cashflow. I understand their revenue in the last twelve months was £19.1m but this is what they might get if back in the Premier.

 

£12m = 30,000 supporters on season tickets at 400 each

£  6m = Cup and other home games, let's say 6 a season with 40,000 supporters paying £25 each

£  3m = £2.50 a head pies and bovril for home supporters per game, 30 games in a season, 40,000 average gate

 

then there's money from the League, TV rights, commercial activities, sponsors, the shops, Rangers Pools, Champions League / UEFA, player sales etc.

 

Their top line could easy be in the £30m region. Then their land and buildings maybe worth £50m, or £5m a year to sell and lease back.

 

There's good cashflow there with no debt. Further funds can be raised from the supporters meantime. I can see the logic, spend £5m to buy a 10% lump of Rangers who have fixed assets worth £50m; get the football club for free, install pro managers, cut the cost base, ramp up the commercial activities, sell the ground, pay themselves a one-off divi, gear up with debt to avoid taxes, and it could be bringing in £5m a year (their operating profit was £1.2m last year). That looks like a 10% no-risk annual return with potential for upside. Hedgies are always short-termers though so I think they will try to buy up more stock so as to leverage their position to force the changes they want.

Edited November 28, 2013 by babychunder

[pringles]

Vulture capitalists, good expression that.

 

Let's do a wee calc on the Rangers cashflow. I understand their revenue in the last twelve months was £19.1m but this is what they might get if back in the Premier.

 

£12m = 30,000 supporters on season tickets at 400 each

£  6m = Cup and other home games, let's say 6 a season with 40,000 supporters paying £25 each

£  3m = £2.50 a head pies and bovril for home supporters per game, 30 games in a season, 40,000 average gate

 

then there's money from the League, TV rights, commercial activities, sponsors, the shops, Rangers Pools, Champions League / UEFA, player sales etc.

 

Their top line could easy be in the £30m region. Then their land and buildings maybe worth £50m, or £5m a year to sell and lease back.

 

There's good cashflow there with no debt. Further funds can be raised from the supporters meantime. I can see the logic, spend £5m to buy a 10% lump of Rangers who have fixed assets worth £50m; get the football club for free, install pro managers, cut the cost base, ramp up the commercial activities, sell the ground, pay themselves a one-off divi, gear up with debt to avoid taxes, and it could be bringing in £5m a year (their operating profit was £1.2m last year). That looks like a 10% no-risk annual return with potential for upside. Hedgies are always short-termers though so I think they will try to buy up more stock so as to leverage their position to force the changes they want.

I have disagreed with you in the past on other matters but have to admire your constructive argument much of which is beyond my comprehension. However how easy will it be to cut the cost base when "The Bears" demand success in Europe and money has to be spent on players' signing on fees, wages, agents cuts etc? and the track record at Ibrox of installing "pro managers" isn't great. 

[HOODLUM65]

At a meeting with supporters groups in a Glasgow hotel, the gang of four got their full support and asked those with shares to turn up and vote at the forthcoming AGM.

Would love to be a "fly on the wall"

[rik2304]

Does AGM stand for A Grand Mulct?

[saintscotty]

Sevco fans muppetry taken to a new level yesterday. The flare that was thrown onto the artificial pitch has burned a hole causing damage at an estimated six figure sum. What punishment will they recieve for this act of stupidity? Hee haw no doubt. Don't want them anywhere near Mcd, oh i forgot, they'll boycott any premier club they get, aye right!