The Rangers Saga and Fallout Thread

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Metalface Mark said:
I was reading a bit of the glennie judgement yesterday and came across a maximum fine of 1 million, but on reading it again its for paying match officials more than they should or something like that.
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On no Mark another thing you got wrong add it to the list ;)

Yeah Million fine was for match fixing/bribing officials.
 
Jim Spence ‏@bbcjimspence Dundee United chairman Stephen Thompson believes clubs would not vote a Rangers Newco into SPL as things stand at present.

Jim Spence ‏@bbcjimspence

United chairman also says Scottish football can survive without Rangers and that he is in talks about a new deal for manager Peter Houston
 
Metalface Mark said:
Jim Spence ‏@bbcjimspence Dundee United chairman Stephen Thompson believes clubs would not vote a Rangers Newco into SPL as things stand at present.

Jim Spence ‏@bbcjimspence

United chairman also says Scottish football can survive without Rangers and that he is in talks about a new deal for manager Peter Houston
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Poor Dundee Utd, top of the boycott list written by Sandy Jardine & cohorts:D
 
The other interesting thing, its two or three weeks since the BBC released their expose on Duff and Phelps and Rangers, Duff and Phelps claimed at the time they were considering legal action against the BBC, yet they have done nothing on that front whatsoever regarding the conflict of interest.
 
Dave King's 20m claim could be taken two ways, he says he wants creditors to say no to the CVA, but if he got his 20m claim verified, it could well push HMRC out of the equation if Rangers somehow won the big tax case.

Either way I wouldnt trust this guy as far as I could throw him.
 
Sandy: I am making notes, Captain, and when we win the war, you will be brought to account
SPL: You can write what you like. You're not going to win this war.
Sandy: Oh, yes we are!
SPL: Oh no you're not!
Sandy: Oh yes we are!
Metalface Mark: [sings] [insert favourite Rangers wind up tune here]
Sandy: [pointing at Pike] Your name will also go on zee list. What is it?
SPL: Don't tell him, Mark!
Sandy: Mark. [writes]
 
I think most fans realise Green is only buying the club to turn it around and sell on at a profit within the next couple of years, at least once the debts (and btc) are sorted out.
 
That's the point innit. Green is in it for green. If it saves the club it'll be more by coincidence than design. He plans to make lots of money out of it. Still if it gets the club to live within its means, that's a good thing. Might be a problem attracting top flight players if they can't afford the stupidly high wages any more though.
 
Metalface Mark said:
He's not even buying it, he's loaning the money, and making nearly 4m in interest.
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FYI

I have highlighted the parts you need to read. This will make it easier for you to understand.

There has been a lot of mostly negative talk, with regards to how Charles Green has funded his offer for the club and his offer to creditors. The common notion is that Charles Green is loaning his investment, a loan which is repayable through certain criteria, and with interest.

Many in the mainstream media have jumped on it and incorrectly tried to declare that Green isn't really making an investment at all, just lending us money until we can pay it back some way down the line - one tabloid even went as far to say that the loan had to repaid in full by 2020.

Let me clear this up right now.

In order to achieve a CVA, Green has had to pump the cash in to fund the club from June 1st - when the club's money essentially ran out - as well as fund his offer to creditors. Although it is not certain yet if the CVA will be achieved, it is looking good, although we have nothing concrete that can be relied upon at this stage.

What funding options were available to Charles Green?

1. A loan is made from Green to the club - which is what he has done. If the CVA is achieved, then that loan turns into capital, via shares, and the club exits administration. This loan will not be repaid if the creditors accept their offer. I can absolutely say that for certain. If the creditors do not accept their offer, the loan then becomes repayable to Green.

This is the quickest and best way of getting the money in and getting the deal done. He is not allowed to officially say that this will happen, as that would constitute an offer and would be the same as option 2, which you can see below.

2. Money is invested as capital. Under the rules as they have been explained to me, an offer would then have to be made for all remaining shares, such as those owned by Dave King. This is very time consuming and costly.

Obviously, all the ins and outs of this process are very complicated and well over the heads of most of us. What is also not helping, is that some people who actually know the ins and outs, are deliberately stoking up the fire to create mischief, and to follow their own petty agendas.

We are having enough trouble with our existing enemies, without some of our own support being obstructive and divisive.

We have already seen a barrage of negative stories trying to derail this process, and some of these stories have come from so-called Rangers fans, who now seem to want us to be liquidated, so that their favoured party can gain control.

Firstly we were told that Green has no money, despite the fact that he has proven that he has.

Then we were told that Green's consortium were deserting him, even though nobody who has been declared as being involved, have done so.

Remember when Brian Kennedy said that if his and The Blue Knight's offer was not accepted by 12pm the next day, a CVA would be impossible? That's funny, because Green came in later than that and still managed to get an offer out to creditors.

We have had accusations of David Low is involved, when he is not.

We heard rumours that Dave King was suing the club a couple of weeks ago, but he has yet to file any papers? He has yet to provide Duff and Phelps with any evidence whatsoever and his statement yesterday was just another attempt to derail this process, to benefit himself, or another.

There is much, much more that I simply cannot tell you that has been done to try to disrupt this process, by so-called Rangers fans. They really should now give it up and let the club get on with it.

I am not saying that we should not keep asking Charles Green the important questions and the RFFF are doing a great job (statements apart!) at pushing Green in every direction, to ensure that this is getting done properly and with the best intentions.

There are still a lot of valid questions that need answered, but the more time we spend trying to get answers to ridiculous accusations, the more valuable time is taken away from the vitally important issues.

The most important thing right now is that the creditors accept their offer, next Thursday at 10am.
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Mr Green’s Sevco consortium has agreed to buy Craig Whyte’s 85% stake in the club for £1, the only part of the proposed deal that does not involve the group getting repaid. The £8.5m loan to cover administration costs of around £3m, as well as all creditors, and will be repaid by the club with interest by 2020.

Made it easy for you to understand.
 
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