What will you do if new Rangers are allowed straight into SPL?  

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Personally can't wait to see the 'car crash' next season! FFS they couldn't even see off teams like Stranraer & Stenhousemuir convincingly! As for the cup game against Albion Rovers! Albion were cheated! That goal should never have stood! Same old whatever they call themselves these days!?

(Mind you if they are still in business!?)

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As if the financial gulf between the teams wasn't enough they got to play the second half against 10 men - again!

 

MSM never mention the part-time status of the opposition they are only interested in talking about the forthcoming world record when they go the whole season 'unbeaten'. SEVCO don't do magnanimous. Amidst sickening triumphalism it will be hailed as the greatest ever unbeaten run - ever.

 

The problem is - the 'in your face' attitude of everybody at that club simply means an increased alienation between them and the fans of the other 41 clubs in the SPFL. I personally cannot wait for the announcement of the next administration event.   

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Death seems quite possible according to the Beeb's report on the finances review thing.  A couple of things jumped out at me: -

 

"Continued negative external comment and campaigns have created significant operating difficulties and have been threatening the club's orderly and progressive recovery."

 

Of course, the plight of The The is everyone else's fault.  I'm lost for words.

 


"Though season ticket renewals are crucial to the club's financial position, the facility for fans to pay for them with credit or debit cards has been removed and supporters are instead being asked to pay the club directly.
One caveat to this arrangement will be that customers' money will not be protected in the event that the business goes bust."

 

Dear LORD!

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Read their report which basically says they have been spending too much (which they did have at the time). The plan for the future is to get more money from somewhere (as yet unknown) and spend more than before to improve things!

Edited by Davdog

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I thought they never survived adminstration the first time, that's why they were liquidated.

 

The reason they were liguidated last time was that HMRC were owed huge amounts of money, and wouldn't accept anything except the full amount.

If they go into admin again, anybody taking over could offer peanuts to thosed owed money and probably get away with it. 

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They are going to hold a new share issue to raise £30 mill over 3 years. Surely the shares already held are worthless. Will anyone be daft enough again.

 

Never underestimate the stupidity of the orks.

Isn't King waiting to throw money at the club?

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Death seems quite possible according to the Beeb's report on the finances review thing.  A couple of things jumped out at me: -

 

"Continued negative external comment and campaigns have created significant operating difficulties and have been threatening the club's orderly and progressive recovery."

 

Of course, the plight of The The is everyone else's fault.  I'm lost for words.

Actually the external forces are King and his cronies. There he is outside the tent offering his "advice" and zero cash. Now he is meant to be on their side so how can banks etc have any confidence in them?

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King is just trying to get control on the cheap. If the ST money is withheld, Rangers go under and he hoovers up the equity for a song. If he controls the ST money, the club will be forced to grant him security over Ibrox to release it, which is effectively the same as control. By creating the threat of no ST money, the merchants who launder the credit and debit cards for Rangers have withdrawnm their support, fearing they will get burned for refunds, thereby forcing Rangers to ask their fans to pay up in front in full with cash, which in turn makes King's proposal a better option for them.

 

He's no mug the guy.

Edited by babychunder

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King is just trying to get control on the cheap. If the ST money is withheld, Rangers go under and he hoovers up the equity for a song. If he controls the ST money, the club will be forced to grant him security over Ibrox to release it, which is effectively the same as control. By creating the threat of no ST money, the merchants who launder the credit and debit cards for Rangers have withdrawnm their support, fearing they will get burned for refunds, thereby forcing Rangers to ask their fans to pay up in front in full with cash, which in turn makes King's proposal a better option for them.

 

He's no mug the guy.

 

The problem is if King ring fences the season ticket money and tries to get security over Ibrox, RIFC will just laugh.  They already have security in the form of 'loans' to TRFC of 20m upwards.  RIFC don't care about TRFC so they can quite happily let that die and Ibrox 1872 or whatever King calls Rangers the 3rd can then pick up the pieces, minus the stadium and assets which RIFC take in payment for their debt.

 

Remember, TRFC seemingly have no external debt.  Just internal debt, and a large negative cash flow, so if RIFC stick TRFC into administration then RIFC will be in full control of what happens.  Unless a mystery investor turns up happy to lose 30m over the next 3 years, then this summer will be very interesting down Ibrox way...

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Rangers Int Financial Ratios (Leverage Ratios) Debt Ratio 13.98 % Debt-to-Equity Ratio 0.16   Debt-to-Equity Ratio (excl. Intgbl) 0.24   Debt-to-Equity Market Value 0.65   Net Gearing 16.20 % Net Gearing (excl. Intangibles) 20.93 % Gross Gearing 29.93 % Gross Gearing (excl. Intangibles) 38.67 % Gearing Under 1 Year 18.54 % Gearing Under 1 Year (excl. Intgbl) 23.96 % Assets/Equity 1.43   Cash/Equity 19.59  

My information suggests that they (the listed company) DO have debt on their balance sheet.

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Baby C in one word are they F*ucked :wink:

Rangers Int Financial Ratios (Leverage Ratios) Debt Ratio 13.98 % Debt-to-Equity Ratio 0.16   Debt-to-Equity Ratio (excl. Intgbl) 0.24   Debt-to-Equity Market Value 0.65   Net Gearing 16.20 % Net Gearing (excl. Intangibles) 20.93 % Gross Gearing 29.93 % Gross Gearing (excl. Intangibles) 38.67 % Gearing Under 1 Year 18.54 % Gearing Under 1 Year (excl. Intgbl) 23.96 % Assets/Equity 1.43   Cash/Equity 19.59  

My information suggests that they (the listed company) DO have debt on their balance sheet.

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One forces o darkness fan I work with thinks there is nothing wrong with going in to administration again!? Clear their debt again!? They still think they have been punished!? No one seems to mention in the press that their is still an HMRC matter of unpaid tax!? FFS their arrogance knows no bounds?!

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