Abernethy Saint Posted January 2, 2015 Report Share Posted January 2, 2015 Rangers. Try and keep up. Tranmere Saintee, Cagey and Dr Christmas Jones 3 Quote Link to comment Share on other sites More sharing options...
Indicator Posted January 2, 2015 Report Share Posted January 2, 2015 (edited) January 2, 2015 at 5:11 pm From Twitter- keith jackson @tedermeatballs 4m4 minutes ago Dave King buys out Artemis and Miton shares in RIFC to take a combined 14.5% stake. Edited January 2, 2015 by Indicator Quote Link to comment Share on other sites More sharing options...
canuck_saint Posted January 2, 2015 Report Share Posted January 2, 2015 fit and proper owner?, lets not forget (from wiki) King eventually reached an agreement with the South African High Court whereby he pled guilty to 41 criminal counts of contravening the South Africa Income Tax Act and agreed to pay a fine of 80,000 Rand per criminal conviction or 3.28 million Rand in total. As part of the deal to drop the other 281 criminal charges he faced, King also agreed that he would pay the Criminal Assets Recovery Account of the South African Authorities 8.75 million Rand in compensation. King was originally indicted on 322 counts including fraud, tax evasion and evasion of exchange control regulations, as well as money-laundering and racketeering Dr Christmas Jones 1 Quote Link to comment Share on other sites More sharing options...
Old Lethamite Posted January 3, 2015 Report Share Posted January 3, 2015 Great! The pantomime season in Glasgow will be extended this year. Quote Link to comment Share on other sites More sharing options...
Dr Christmas Jones Posted January 3, 2015 Report Share Posted January 3, 2015 Out of the fire and into the volcano Quote Link to comment Share on other sites More sharing options...
saintee4life Posted January 3, 2015 Report Share Posted January 3, 2015 There's going to be one hell of a power struggle coming up shortly, can't see Ashley lying down easily Quote Link to comment Share on other sites More sharing options...
uphallsaint Posted January 3, 2015 Report Share Posted January 3, 2015 Ashley will give the club up, he's not interested in it. The main stand is listed so very difficult to develop, also with a lot of blue nose councillors, planning permission to redevelop would almost be impossible. He will however want to consolidate his commercial interest and get his loans back. Read in the Daily Ranger this morning that their financial advisors say that the Sports Direct contract can be broken. Interesting few weeks coming up. Quote Link to comment Share on other sites More sharing options...
Lincolnshire no More Posted January 3, 2015 Report Share Posted January 3, 2015 All contracts can be broken but it will cost money. King's purchase of shares has been reported to the Stock Exchange. He has been accused of acting with the "Three Bears". If the Stock Exchange agree they have enough shares that they are forced to make an offer to buy enough shares to control the club. I am not sure if that is 51% or 100%, but I think they have to offer it to all existing shareholders. They also can't offer to buy them cheap. I don't think the Stock Exchange care about the "We are the People" argument. Only money will matter Quote Link to comment Share on other sites More sharing options...
Abernethy Saint Posted January 3, 2015 Report Share Posted January 3, 2015 I think (happy to be corrected) that if forced to make an offer, it has to be to all, and at the highest share price during the preceding 12 months. So quite a bit higher than what they paid for the ones they just bought. Quote Link to comment Share on other sites More sharing options...
Lincolnshire no More Posted January 3, 2015 Report Share Posted January 3, 2015 So I guess they would pretend not to know each other if they met in the street. Still quite a coincidence for 34% of the club to be bought up in less than a week. Still, I believe that the moon is made of cheese. Quote Link to comment Share on other sites More sharing options...
The ghost of Jim Morton Posted January 3, 2015 Report Share Posted January 3, 2015 Having read a good few pages on P&B on the subject, plus the guys blog regarding Cockwomble, the BBC stuff and a few other bits and pieces I want to know if I have got this right.. 1. Tax dodger Davo has bought 16% odd of shares from a hedge fund who have sold them at a vast loss. 2. The 3 Bears ( Daddy, Mummy and Baby) have also bought a lump of shares from another institutional investor who again has sold up at a vast loss. 3. The 3 Bears and dodgy Davo claim to not be working together .This is important and has to be said because, should they be working together, then as they have upwards of 30% of the shares, they would then need to offer all existing shareholders the chance to sell their shares to dodgy Davo and his three Bears at a price quite a bit higher than they are priced at now. This of course is exactly what dodgy Davo vowed not to do, as he wants his cash to go directly to Sevco rather than the gold diggers who populate the corridors of power at Ibrokes. Of course by buying shares yesterday he has paid money that won't be going to Sevco, but at least it won't be going to Sommers, the Easdales, Micky Gashly, Craig Shyte, Charles Green or any of the other utter shysters ( he hopes) How we doing so far?? 4 Given the dumping of shares by two large companies/hedge funds, do they know that the balloon is about to go up? 5. Cockwomble is either very stupid or trying to prepare the ground for Admin II. Either way, it would seem he has shat the bed and by spouting his mouth off to Piss McLaughlin has surely talked himself out of a job at last, given what he has said ( unless of course all our club chairmen agree but just haven't told anyone). 6. Micky Gashly is being pissed on and may well be pissed off. His dastardly plan is being derailed by the cunning Davo and his 3 bears. This may make him angry and he may fancy a financial or legal "Square Go" 7. Sommers, at least one Easdale and Llambias will soon be oot on their arses. Question will be though, how much of a golden goodbye will they be due?? 8 Sevco are still skint and need real money very fast otherwise ( see #4) 9. On the park, Sevco are still rank rotten, have a "new manager" who is pretty much the same as the old one, and they have no chance of winning the league. 10. They still have to pay Fat Sally about £750,000 for doing slightly less than he has been doing for the last 3 seasons. This is tricky because ( see # 8 ) 11. There is more than one current legal case taking place that could cost them even more money ( see# 8 ) 12. They have just sold their prize ( and some say ONLY playing asset) for enough money to pay a whole months wages ( maybe) 13. The entire club is a cluster****. 14. I am laughing as I type this summary. 15. An existing shareholder has " Grassed " Davo and the 3 bears up to the stock exchange but we don't know who yet.. Have I missed anything????? Saintdunc, Smarmy Arab, Saint Paul and 1 other 4 Quote Link to comment Share on other sites More sharing options...
Indicator Posted January 3, 2015 Report Share Posted January 3, 2015 (edited) Had intended posting a missive of similar length dealing with the same subject but as yours is much more eloquently constructed I wullnae bother. However, In the case of Mr Doncaster and the interview of 1st of January 2015. A couple of links below which IMHO put things in perspective. http://wingsoverscotland.com/the-neerday-game/ http://www.onfieldsofgreen.com/a-moment-of-clarity/ If Mr Doncaster's view is not one shared by our Chairmen or Boards of clubs on whose behalf he is employed and, they have not been complicit in any discussions that resulted in the pronouncement he made on 1st January, are they going to do anything about it, was he speaking on their behalf? Personally I cannot understand why any SPFL club managements could still be of the view that the New (near bankrupt) Rangers clusterfeck joining the top league, a league in which most clubs have managed to turn their financial problems around, a league which is more competitive than it has been for years and, is currently free from the financial doping and 'arms race' type of scenario brought about by that club's triumphalist nature - would have any benefits at all. But I'm sure somebody will put me right on that. Edited January 3, 2015 by Indicator Saintdunc 1 Quote Link to comment Share on other sites More sharing options...
uphallsaint Posted January 3, 2015 Report Share Posted January 3, 2015 Two great posts by Ghostie and Indicator. Well put guys. Tranmere Saintee 1 Quote Link to comment Share on other sites More sharing options...
babychunder Posted January 4, 2015 Report Share Posted January 4, 2015 Couple of other points. 1. The board bounced the offer of £16m from King which asked for two board seats (how could this be reconciled with their legal duty to do the best for the company and its shareholders when there were no othe proposals on the table and the club weeks away from running out of cash??) 2. Next the purchase of shares by the 3 Bears and King give them the option to participate in the rights issue that was the consequence of 1. Quote Link to comment Share on other sites More sharing options...
sixties saintee Posted January 5, 2015 Report Share Posted January 5, 2015 American basketball owner of Phoenix Sun looking at buying then them Que jokes about rising from the ashes. Be playing in hoops next season Quote Link to comment Share on other sites More sharing options...
George Grieve Posted January 5, 2015 Report Share Posted January 5, 2015 An emergency loan to stay afloat.......that clock sounds louder...... Quote Link to comment Share on other sites More sharing options...
fazman1977 Posted January 5, 2015 Report Share Posted January 5, 2015 (edited) TICK TOCK Jelly and Ice Cream for breakfast. Edited January 5, 2015 by fazman1977 Quote Link to comment Share on other sites More sharing options...
Cagey Posted January 5, 2015 Report Share Posted January 5, 2015 One Easdale brother loans them £500,000 to stop HM Revenue winding them up. Would have thought the McLeod transfer would have covered that. Quote Link to comment Share on other sites More sharing options...
Cagey Posted January 5, 2015 Report Share Posted January 5, 2015 American basketball owner of Phoenix Sun looking at buying then them Que jokes about rising from the ashes. Be playing in hoops next season Ex player David Robertson recommended them as a good investment. Quote Link to comment Share on other sites More sharing options...
Smarmy Arab Posted January 5, 2015 Report Share Posted January 5, 2015 http://m.stv.tv/sport/football/clubs/rangers/305416-spfl-seek-answers-from-rangers-over-claims-of-late-payment-of-tax/ Deeper and deeper in the do-do.... Quote Link to comment Share on other sites More sharing options...
TheYellowBox Posted January 5, 2015 Report Share Posted January 5, 2015 One Easdale brother loans them £500,000 to stop HM Revenue winding them up. Would have thought the McLeod transfer would have covered that. It sounds as if the loan might be against these funds. Guessing it might be a lump fee up front and the loan is against any future instalments due. Given it was failure to pay tax etc that dragged them under last time, you'd think they'd learn and hector the tax man would have been all over them. I'm sure they will find a way to Weasel out of it all. I love the contrast of debt free and talent rich Diddy teams and an ageing under performing broke Rangers. Any other club, I'd say I have sympathy for the fans, but not that lot. They let their club die first time round and had a chance to reinvent themselves and their club and show some humility and they didn't. Quote Link to comment Share on other sites More sharing options...
Cagey Posted January 5, 2015 Report Share Posted January 5, 2015 http://m.stv.tv/sport/football/clubs/rangers/305416-spfl-seek-answers-from-rangers-over-claims-of-late-payment-of-tax/ Deeper and deeper in the do-do.... SPFL take their word that they have not broken the rules. . Sevco will be looking forward to the big pay day they will get when they play Celtic. Hopefully Celtic fans boycott it & SPFL also take a big chunk & withhold money like they did for Saints. Quote Link to comment Share on other sites More sharing options...
Indicator Posted January 5, 2015 Report Share Posted January 5, 2015 There is no way significant numbers of CFC fans will boycott the match. They want to see their team administer a drubbing to the Newco however the SPFL may well retain some of the takings due to the Newco as they are currently trying to extricate some 250,000.00 from them for Oldco's undisclosed payments to players. Newco is fighting the claim (Robustly!) Quote Link to comment Share on other sites More sharing options...
TheYellowBox Posted January 5, 2015 Report Share Posted January 5, 2015 If/when they go belly up, the rest of the spfl clubs should buy ibrox and lease in back to rangers mk3. What's the going rate again? £300k a match? We know Ibrox is worth £5m as that is what it went for last time, so would be paid off in less than a season and free for semi finals. Wonder if Utd should offer to pay the Telfer transfer few straight to the tax man? That would really piss them off fazman1977 1 Quote Link to comment Share on other sites More sharing options...
Havana Saint Posted January 5, 2015 Report Share Posted January 5, 2015 I think Livingston should be talking to their lawers. Sevco/Sports Direct FC getting away with things yet again...............unbelievable. Quote Link to comment Share on other sites More sharing options...
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