A Sanity Clause for Xmas?

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A Sanity Clause for Xmas?

A Guest blog by redlichtie for TSFM

From what I can see Mike Ashley is likely to be the only game in town for RIFC/TRFC fans unless they want to see another of their clubs go through administration/liquidation.

That particular scenario potentially allows for a phoenix to arise from the ashes but on past evidence it is probably going to be an underfunded operation with overly grandiose pretensions taking them right back into the vicious circle they seem condemned to repeat ad nauseam.

Ashley has the muscle to strongarm the various spivs to give up or greatly dilute their onerous contracts and I suspect that is what has been happening behind the scenes.

From Ashley’s point of view I believe that what is being sought is a stable, self-financing operation that he can then sell on whilst retaining income streams of importance to SD.

I also suspect that he will come to some arrangement with the SFA to dispose of his interest once he has stabilised the club.

The problem for RIFC/TRFC fans is that Ashley is not going to fund some mythical “return to where they belong”, though that is beginning to appear to be the second division of the SPFL where they are heading to have a regular gig.

Like at Newcastle, Ashley will cut their coat according to their cloth. This will mean, again like at Newcastle, a mid-table team with good runs every so often. If the finances can be fixed then they will have an advantage over most other Scottish clubs but in the main we will be back to actual footballing skills and good management being what is important (pace “honest mistakes”).

With recent results and footballing style clearly those are issues that will require attention and McCoist seems likely to present RIFC/TRFC with an early opportunity to address at least one aspect of that if he continues with his current “I’m a good guy” press campaign. It may take just one unguarded comment or action and he will be out.

But will the Bears go for Ashley’s plan? So far they seem antagonistic and still cling to their belief that the world owes them a top football club regardless of cost.

If the fans don’t get behind the current entity I can see Ashley deciding the game’s not worth it and cashing in his chips. Some ‘Rangers Men’ will probably turn up and create a new entity for The People to believe in and Ashley will continue to draw in income from shirt sales and, most likely, charging fans at the world famous Albion car park which he will then own.

The upcoming AGM is crucial and from what we have seen of Ashley so far he gets what he wants.

The crushing reality about to descend on The People is that there really is no Santa Claus. A Sanity Clause, perhaps but no Santa Claus.

About the author

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Trisidium administrator

Trisidium is a Dunblane businessman with a keen interest in Scottish Football. He is a Celtic fan, although the demands of modern-day parenting have seen him less at games and more as a taxi service for his kids.

3,813 Comments so far

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GoosyGoosyPosted on8:53 pm - Jan 15, 2015


neepheid says:
January 15, 2015 at 7:58 pm
I saw this document on here earlier, I’m sorry I can’t remember who posted it, but it really brings home the extent of Ashley’s involvement from the very early days.
https://pbs.twimg.com/media/B7ZgjkYCAAAneok.jpg
That’s interesting
Jim Park emailing CW, badmouthing CG and having a one to one with Mike Ashley way back on 24 June 2012 just 8 days after the CVA was rejected and the Sevco 5088 – Sevco Scotland switcheroo took place
If CW was out of the RFC saga by then
Why is Jim Park doing business with ex CEO Whyte who has just been” double crossed “by Green?
What is Park negotiating with Ashley about on a one to one (so must be top secret) that needs Whytes approval?`
They couldn`t be negotiating the terms of an onerous contract that would culminate in an Ashley takeover 3yrs later?
Nah
Surely not?

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upthehoopsPosted on8:54 pm - Jan 15, 2015


I see Brian Kennedy has popped up again via the medium of the Daily Record, speaking in grand terms of how Ibrox is ‘sacrosanct’. I have no issue whatsoever with any group of fans thinking this way in terms of their stadium. I do have an issue though with fans who think normal ways of raising money when your club is skint should be circumvented in one special case but that the money should still be forthcoming. Securing loans on property is no new thing. Likewise. people not lending vast sums to financial basket cases with no security on the loan is not new either.

To quote Fergus McCann, “these people need to wake up and smell the coffee”

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Danish PastryPosted on8:56 pm - Jan 15, 2015


Regarding the criticism of the national broadcaster, I find myself listening less and less to BBC Sportsound, nothwithstanding the praise given to some of its pundits on here recently. Even the good ones are more or less censored from speaking their minds.

Others, who had the civil courage to speak the truth, have been intimidated into using the language of oblique references. Speaks volumes that the only fitba analysis programme worth listening to on the BBC is still by the ‘odd couple of Scottish football’.

STV’s @STVGrant on the other hand comes across as a decent chap and very well informed. Absolutely worth spending time reading his twitter timeline than on that insufferable, often blue-tinted unreality from some of the Sportsound pundits. Maybe they’ll all end up on Level 5?

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valentinesclown

valentinesclownPosted on8:57 pm - Jan 15, 2015


Hamerdoon says:
January 15, 2015 at 8:23 pm

WTF……….he was appalling
————————————————–
I agree 100% in that Mr Wilson was shocking. This is in a studio in a calm setting and he could not contain his feelings (to be fair he is an honest man in all things concerning his club) It was not balanced and was not contested by anyone in the studio , that is also shocking. This is OUR msm and we deserve better.
Just as bad was SSB’s Mr Guidi, he actually said that Mr Ashley might give Rangers 12 – 15 million to buy players to challenge for CL spot. I thought he may be right, then I thought wtf that will never happen IMO.
A caller on SSB made quite a relevant point concerning Mr Ashley. If loan accepted basically owning all assets and therefore basically owns Rangers. His point being he does not need the 29% shareholding that the hearing with SFA will decide on 27 Jan. His point being he will basically control both Rangers and Newcastle if his loan accepted what could/would the SFA do in this scenario. Bearing in mind the where the loyalties of the SFA are.
Scotland needs strong lawyers

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jimlarkinPosted on9:05 pm - Jan 15, 2015


The Rangers Supporters Trust has reacted with anger to the news, revealing it has already called in lawyers in an attempt to thwart Ashley’s plans.

In a statement, the fans group said: “The RST is taking urgent legal advice regarding this attempt by the board of Rangers Football Club to pass the most prized assets of the club to Mike Ashley.

……………………………………

I wonder if they will be getting the legal “advice” from
Donald Findlay QC ?

Sorry guys which Rangers are we talking about?
The Club!
Och Aye, but which one, The Old one or the New one?
Errrrm – The New One!
Sorry guys, can’t help – I supported the Old Club which is now Dead.
The other problem you guys might have, is that Mike Ashley doesn’t have anything to do with the Club – he has shares in the company and is offering Loans to the company!
Errrrm
…OK, I think we better try Lord Hope or Lord Nimmo Smith then !

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CastofthousandsPosted on9:06 pm - Jan 15, 2015


Resin_lab_dog says:
January 15, 2015 at 1:17 pm

“MA will use the revenue generated to fund development, and promote SD off the back of it. Finally some good news for the decent bears, no less.”
———————————–
What you say makes a lot of sense and has a positive outlook. I think Mike Ashley generally has been viewed less suspiciously by blog contributors than most of the characters involved in the saga; though this in itself is not a high commendation. Even redlichtie’s headline post sees MA as a way forward.

The problem is that he seems to be alienating the Rangers support by not clarifying his intentions. His annexation of club branding and retail revenue doesn’t appear to have the club’s best interests at heart. His existence in the background of Rangers for a significant number of years potentially places him in concert with a number of other characters who aren’t whiter than Whyte.

I’d like to share your positive outlook but I think Rangers fans and supporters are correct to be cautious. Things just don’t add up.

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CastofthousandsPosted on9:21 pm - Jan 15, 2015


mcfc says:
January 15, 2015 at 1:50 pm

” And that puts the effete chaps at the SFA way out of their competence zone.”
————————————
Totally agree and appreciate the erudition.

The SFA/SPL/SPFL may have thought it expedient to protect their wage rises by perpetuating the interests of a large section of supporters who risked being alienated i.e Rangers fans. However they appear to have made themselves hostages to fortune in the process.

There may have been an outcrop of backbone on show when the club dual ownership criteria were enforced but the ability to forward plan a strategy seems to lie at a pay grade above that currently being displayed.

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bfbpuzzledPosted on9:22 pm - Jan 15, 2015


It looks like payday loan getting toward what is called a Ninja mortgage in the USA -no income no job no assets-The loan might effectively be based on a site value accounting for removal of the liability which the stadium might be given work needed general obsolescence and more. Indeed that might be more likely than lending against the stadium which might not be suitable security for such a loan. If correct that tightens the choke tackle to use a rugby term further. As ever these are musings- show us the deeds gets more important daily

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Danish PastryPosted on9:23 pm - Jan 15, 2015


I thought the point made by @incredibleadamspark was a relevant, sympathetic observation. A demand that words be banned? Where did that come from?

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Resin_lab_dogPosted on9:25 pm - Jan 15, 2015


Castofthousands says:
January 15, 2015 at 9:06 pm

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Resin_lab_dog says:
January 15, 2015 at 1:17 pm

“MA will use the revenue generated to fund development, and promote SD off the back of it. Finally some good news for the decent bears, no less.”
———————————–
What you say makes a lot of sense and has a positive outlook. I think Mike Ashley generally has been viewed less suspiciously by blog contributors than most of the characters involved in the saga; though this in itself is not a high commendation. Even redlichtie’s headline post sees MA as a way forward.

The problem is that he seems to be alienating the Rangers support by not clarifying his intentions. His annexation of club branding and retail revenue doesn’t appear to have the club’s best interests at heart. His existence in the background of Rangers for a significant number of years potentially places him in concert with a number of other characters who aren’t whiter than Whyte.

I’d like to share your positive outlook but

________________________________________________________

The positive outlook is only relative.
As to alienating the fans… he doesn’t care.
He alienated the NUFC fans as well. NUFC is run for the promotional benefit of Sports direct and the commercial benefit of MASH,, not the sentimentality of the Gallowgate. NUFC fans want him gone and now he has achieved his strategic corporate aims – and he saw NUFC as a vehicle to further these, nothing more, nothing less, as soon as someone comes along to buy him out at the right profit he will happily move on.
But NUFC is not in any financial distress. It is run within ruthless financial constraints. It is milked mercilessly.
NUFC could and should have done better than MASH. He has arguably taken that club backwards. But they will recover from his tenure.
Whereas I would contend that from where TRFC are now to where NUFC are now, and where MASH would take TRFC would be a considerable step forward for TRFC.

MASH is a proper investor. Not blue nosed. Just hard nosed. No Rangersitis there. Immune to threats. Devoid of sentimentality. But when he needs to he WILL splash the cash.
But he WILL also get a return which is greater than his investment. Thats what proper investors do.
TRFC need ‘proper’ investors, more than anything else, to have any long term viability. Hard nosed, not blue nosed.

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StevieBC

StevieBCPosted on9:29 pm - Jan 15, 2015


James Forrest says:
January 15, 2015 at 8:19 pm

Tonight’s On Fields of Green…

This is our definitive piece on Doncaster, and the scandal of 2011…
==================================
Very good summary JF, and no less shocking reading it now.

But after Doncaster, Regan and Ogilvie have finally moved on, it’s a total organisational change that’s also required, IMO, including fan’s formal involvement, cultural change and rebranding – just to start with.

Otherwise, the SFA/SPFL will remain the same old boys’ network: different names but same, corrupt idiots as figureheads.

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futbolPosted on9:34 pm - Jan 15, 2015


@James Forrest

Thanks for this James. Reading it felt like a macabre and highly disturbing novel where you realise you know what has happened but the common decency in you won’t allow you to accept it. Then you find out you guessed right.

The only part I would question is the dismissal of the league restructuring and reduction of 4 games – if we ended up with a 20 team league there’d only be 2 games and it’s conceivable this might be seen as a problem/loss of advertising revenue for a broadcaster if the “big game” is only on the box twice. FWIW I am not condoning that or saying it did happen, just suggesting I think it’s not worth completely discounting.

Does anyone know if the BBC duty bound to respond to an FOI? If so, is it possible to request sight of the earlier TV deal held by the BBC to see if the 4xOF clause is in it?

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Cosmic TruthPosted on9:36 pm - Jan 15, 2015


@dedeideoprofundis. “So it’s costing MA £13mill to buy what CG paid £5.5mill for? What are we missing here?”

Ashley has given the Rangers 2012 loans, he hasn’t paid out all that money. He should get it all back.

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MaBawPosted on9:36 pm - Jan 15, 2015


A couple of things…

If I had a golf club and said you cannot wear jeans on this course and one of the top golfers arrived in jeans, can I ban him or do I need to hide behind a law lord to enforce my rules.

Second… I predicted to Rangers fans that the club would have a fire sale 3 to 4 years ago. Unfortunately, I was wrong and they were right. From administration, through liquidation to the setting up of a new club, there has been no fire sale. Had their been a fire sale, Rangers would now be well on the road to recovery rather than still in a complete financial mess.

If no Rangers fans went to the home games for 2 months the issue would be resolved but they would have to start again.

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CastofthousandsPosted on9:38 pm - Jan 15, 2015


MoreCelticParanoia says:
January 15, 2015 at 2:47 pm

“I see Castofthousands made more or less the same point as me last night at 9.43pm with more eloquence and diplomacy.”
————————————
I thought yours was more concise but I suppose its all about opinions.

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Resin_lab_dogPosted on9:46 pm - Jan 15, 2015


dedeideoprofundis says:
January 15, 2015 at 7:20 pm

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So it’s costing MA £13mill to buy what CG paid £5.5mill for? What are we missing here?

________________________________________________________

About £70m.
(That’s how much they’ve spunked away in the past 2 and abit years isn’t it?)

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SteveplustaxPosted on9:57 pm - Jan 15, 2015


futbol says:
January 15, 2015 at 9:34 pm

@James Forrest
Thanks for this James. Reading it felt like a macabre and highly disturbing novel where you realise you know what has happened but the common decency in you won’t allow you to accept it. Then you find out you guessed right.
——————–

For “Gone Girl,” read “Gone Peepo.”

😥

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Paulmac2Posted on9:59 pm - Jan 15, 2015


Bawsman says:
January 15, 2015 at 8:30 pm
……………………
That’s an ex journalist trying to be clever…he is out of his depth…mind you he would be out of his depth in a puddle…

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easyJamboPosted on10:01 pm - Jan 15, 2015


Andy Newport ‏@AndyNewportPA · 2m2 minutes ago
Statement from the Three Bears about to hit PA wires soon

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neebs67

neebs67Posted on10:02 pm - Jan 15, 2015


According to Phil the board at Bleak Hoose knew about the off the books debt late Nov/ early Dec. If this is the case did Mr Llambias take this into account when he confirmed to the SPFL that TRFC would see the remainder of the season out?

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SteveplustaxPosted on10:02 pm - Jan 15, 2015


Don’t want to turn this into the TEFM (!), but I just wanted to add a brief comment on an otherwise astute posting by Resin earlier. Liverpool fans were known for introducing the “casual style” in the ’80s (via European “shopping” expeditions), but they weren’t really part of violent casual culture (as the likes of Danny “pwoper nawty” Dyer would understand it).

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ecobhoyPosted on10:04 pm - Jan 15, 2015


I have undernoted a post from Gersnet which I think captures the emotions felt by a lot of Bears today. I, like many others, could point to the culpability that Bears share in the shambles that looks set to destroy Rangers.

But I won’t because there are those who bear a far bigger responsibility and they are those in charge of the governance of our game. Then there is the decades of pandering to Rangers by the SMSM and failing to tell the truth about so many aspects of Rangers and those who used and abused it for their own ends.

And above all else are the politicians of every political party in Scotland who have turned their back on tackling bigotry and sectarianism frightened to lose some tainted votes.

I have no idea where this will all end-up and neither do the vast majority of Bears. Hopefully when the initial shock and anger lessen they can see a way forward to building a club of their own fit for a modern society.

However every Scottish Football Fan has an even grerater duty now to root out the rotteness at the heart of our games which has its lair at Hampden.

The Betrayal

There will some of you reading this who, like me, are old enough to remember the Ibrox Disaster and the aftermath. They were indeed the darkest of times, and words cannot adequately convey what it was like to live through it. I can’t begin to imagine what it was like for those who lost loved ones, but I know how bad it was for those of us who knew some of those who perished.

As a support we needed hope and Willie Waddell gave us that. He spoke of building a stadium which would stand as a testament, a memorial to those who perished that day – and he delivered. The wonderful stadium we have today is that legacy from yesteryear. I’m sure I’m not alone amongst our support who recognise our modern day Ibrox, not just as a stadium but a living memorial, a tribute to those who perished.

Ibrox is not just a stadium, it is a beacon of hope, of remembrance, of inspiration to every one of us who cast a favourable eye towards her.

Quite simply she is beyond price.

Even during the aftermath of Whyte, the fact we had a stadium and a support like ours filled me with hope and optimism for the future, even during the blackest of news days, and of course, there were many of them.

I could witter on all day about broken promises, broken assurances and cite examples, but what would be the point?

If men cannot understand the significance of their actions today, or what Ibrox means to us, the fans, then I doubt they will lose much sleep over their broken promises. As I’ve warned for some time, those currently at the helm of our club are not fit for purpose. Furthermore they clearly know nothing about our club, nor care for our traditions, our values or our history.

As a beacon which has served this support for generations is dimmed by the actions of imposters, perhaps it will prove to be the spark which brings unity and a unified sense of purpose to those who truly care about our club.

“The light shines in the darkness, and the darkness can never extinguish it.”

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dedeideoprofundisPosted on10:05 pm - Jan 15, 2015


Cosmic Truth says:
January 15, 2015 at 9:36 pm
Ashley has given the Rangers 2012 loans, he hasn’t paid out all that money. He should get it all back.

So can we take it that he’s not interested in the assets, only whatever interest he’s charging? How would he feel if he’s left with the assets if they fall to him by default, would CG be having a laugh?

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easyJamboPosted on10:07 pm - Jan 15, 2015


Three Bears statement

https://pbs.twimg.com/media/B7bEyhdCMAANqfw.png:large

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SteveplustaxPosted on10:15 pm - Jan 15, 2015


easyJambo says:
January 15, 2015 at 10:07 pm

Three Bears statement

https://pbs.twimg.com/media/B7bEyhdCMAANqfw.png:large
—————

If they offer £10 million could Large Michael just raise his loan offer offer £20 million?

The Loan Rangers, indeed.

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nawlitePosted on10:18 pm - Jan 15, 2015


Steveplustax says:

January 15, 2015 at 10:15 pm

“For every £5…………..”!

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easyJamboPosted on10:19 pm - Jan 15, 2015


Oddly no mention of the Three Bears calling an EGM to sort out the board or is there something they are not telling us.

I note that there has been no notification to AIM of Artemis or Miton selling their shareholding, as yet. Is it possible that New Oasis’ (Dave King) purchase had some conditions attached, meaning that King’s shareholding hasn’t been finalised?

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Cosmic TruthPosted on10:27 pm - Jan 15, 2015


@dedeideoprofundis. “So can we take it that he’s not interested in the assets, only whatever interest he’s charging? How would he feel if he’s left with the assets if they fall to him by default, would CG be having a laugh?”

I admit what I know about business could be written on the back of an acid tab, so I’m probably not the best person to try and guess what Ashley wants.

if I had to guess, I’d say he isn’t interested in the ass4ts, and just wants them as security, and his main objective is to keep his contract going with the Rangers 2012.

If however he is left with £1brox, then he can always rent it out to Third Rangers, or whatever the new club/operating company/entity that plays out of £1brox call themselves.

I don’t think Mike Ashley will be outsmarted by King, Park, or any of the other guys sniffing around the petticoat of The Rangers 2012.

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TrisidiumPosted on10:29 pm - Jan 15, 2015


Park, Taylor and Leatham it seems can stand with arms akimbo as much as they like. Ashley has really put one over on them today.

Since his latest move makes it impossible for the three Bs to obtain security on any loan they might offer – is it possible they are being forced into a situation where they may offer unsecured loans?

That would be a real test of their Rangersness, but I suspect that their intelligence will not be tested to destruction in an effort to prove their blue creds.

Clearly Ashley wants control. Equally clearly, he is not in the least interested in courting popularity with the fans. I don’t see how he can expect record shirt sales in the midst of austerity and a popularity rating up there with Craig Whyte.

I think the fans are rightly concerned about where Ashley is going with this. It certainly doesn’t seem to be the road that leads to the CL.

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easyJamboPosted on10:40 pm - Jan 15, 2015


Record back page suggesting King will call an EGM tomorrow.

https://pbs.twimg.com/media/B7bK84_CUAAiClY.jpg

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stifflersmomPosted on10:40 pm - Jan 15, 2015


Hamerdoon on RW – I feel your pain!

However, brace yourself for the Ecobhoy defence of the indefensible!

(I’m hoping he can take the banter)

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Paulmac2Posted on10:42 pm - Jan 15, 2015


easyJambo says:
January 15, 2015 at 10:07 pm
…………………..

Translated…

Sh*t…there is Sweet FA we can dae aboot this…so we are gonna throw in a few subtle threats and insults and hope he buckles….

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easyJamboPosted on10:43 pm - Jan 15, 2015


I’d expect the Board to leak more details about the conditions of the Three Bears loan offer, e.g. a 10% interest rate against Ashley’s interest free loan, or similar.

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SmugasPosted on11:00 pm - Jan 15, 2015


Noticeably, the 3Bs also bring the concept of a negative pledge – essentially a hidden floating charge favouring a third party, usually one already in to the business – to the table. Now where have I heard that before?

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TailothebankPosted on11:07 pm - Jan 15, 2015


The old saying ‘ A day late and a dollar short’ comes to mind with these Bears guys .
By any chance are they the same crew who turned up with Walter a day late back in 2012?
Anyway They and the SFA are dealing with a serious operator who is in a completely different league from any of them .
Oh and if they threaten him with an EGM as the DR is suggesting …he can just liquidate the company and they lose everything in a heartbeat ..and he will own the lot with his £13m loan ?
Just like that !
These bears guys are out of their depth and look to have been played like a fiddle….but don’t worry the ‘ Rangers First ‘ Cavalry are coming over the hill with their collection boxes to save the day !

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ecobhoyPosted on11:11 pm - Jan 15, 2015


I was thinking that everything seems to be going Ashley’s way and then I read McMurdo only to find he’s backing Ashley. On Minor’s past form Ashley hasn’t got a snowball’s chance in hell 🙄

And no matter how favourable his blogs wrt Ashley the old PR feed of succulent lamb piping hot from the Boardroom PR trough will never be refilled 😆

There are many in our game who are genuinely frightened by the prospect of a Rangers powered by Ashley’s substantial wealth and business interests.

This is the real reason Ashley is finding it tough to progress his interest in the club.

Make no mistake – if Ashley’s intentions were proved to be harmful to Rangers, I would oppose him as vigorously as anyone but it takes a big stretch of the imagination to make this argument.

I am often accused – and was sadly earlier by a regular contributor to this blog – of having an agenda.

I have never hid my agenda from anyone.

It is to have the strongest possible Rangers Football club on and off the park.

If that means having a genuine, no-nonsense, hard-nosed billionaire in charge of the club, then excuse me all over the place for wanting exactly that.

Is Mike Ashley the real deal, the genuine article?

Is he the safe pair of hands The Rangers need?

I only know one thing.

Those who hate Rangers FC are terrified to find out and thus are doing everything they can to stop it happening.

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SmugasPosted on11:21 pm - Jan 15, 2015


From the Herald

Three Bears: we’ll double £5m loan to Rangers if board keeps Ashley out of Ibrox

Genius. Pure genius.

I do, of course, refer to Mike Ashley.

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Adeste Fideles

Adeste FidelesPosted on11:21 pm - Jan 15, 2015


ernie says:
January 15, 2015 at 2:09 pm
179 0 Rate This

i apologise but just to put a wee bit of humour in before the next armageddon, stolen from another forum.
“Today’s the day the teddy bears got their pitch nicked.”

easyJambo says:
January 15, 2015 at 10:40 pm
1 0 Rate This

Record back page suggesting King will call an EGM tomorrow.

https://pbs.twimg.com/media/B7bK84_CUAAiClY.jpg

***

The DR have stooped so low as to use someone else’s joke as their headline.

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SmugasPosted on11:24 pm - Jan 15, 2015


McMurdo

“It (his agenda) is to have the strongest possible Rangers Football club on and off the park.”

If you truly mean what you say in that simple statement then for almost the first time in this farrago I will agree with you.

Just as a follow up question though, how weak are you prepared to accept the strongest possible Rangers Team to be?

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TailothebankPosted on11:45 pm - Jan 15, 2015


Re James Forrest piece on Doncaster;
Like reading/ watching the script from a Panorama programme.. Outstanding insight !
How do they keep the tin lid on that lot?

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DenPosted on11:48 pm - Jan 15, 2015


I am going to try to join some dots, will most likely be way off so you can pass on this if you want.

I believe that Ibrox and MP are encumbered in some way, these people will not leave major assets for someone else if they can help it.

Ashley and a group of others were involved from the beginning and it is likely that they got a lot of concessions for their investments, a lot of deals were done before it was opened to the Investment Community (£17m I still can’t believe that) and the fans.

When the big invoice (still only a rumour, but not denied) story broke my first thought was that it was a ‘poison pill’, triggered by the Sarver takeover bid.

Could there be an agreement that their investment would be secured on Ibrox, this would not entail any significant cost to Sevco except in the case of a takeover or other event.

Perhaps some of the group were worried that King and the others would gain control and triggered the invoice. The share dealings recently have been well outside of the normal for this Company and way out of character for RRM.

Ashley may be putting up the money to buy out the disaffected and take over their contracts as well as securing his own if the Company continues.

If the Company folds he picks up the assets and will be in pole position. Anyone wanting to use the facilities and much of the IP would need to rent, or buy, them from him and sign up to the merchandising deals.

£10m seems a lot to risk given that the lot was acquired for £5.5m less than 3 years ago, however the profits from the retail and other contracts may be worth it, and the money is secured on assets.

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Barcabhoy

BarcabhoyPosted on12:11 am - Jan 16, 2015


The stench of hypocrisy is getting stronger and stronger every day now from King and the 3 Bears. In fact not only are they happily prepared to say just about anything for favourable publicity, they go against the principals they employ in running their own business’

Take Douglas Park for example.

His business has given Bank of Scotland security over every single asset of the company . All of the assets of Parks of Hamilton are pledged to the company as security for loans made by Bank of Scotland.

Security of this nature is standard business practice. George Letham’s business’ have provided identical securities on many occasions .Football clubs who own their own stadiums up and down the length and breadth of the UK have used their stadiums as security for loans .

Yet when Premier Property (owned by David Murray) had security over Ibrox, or when MIH themselves did or when Bank of Scotland held a floating charge over every single Rangers asset , did we hear outrage and condemnation .

No , we heard nothing and leading the charge of those who were completely silent and never said a word were the likes of Dave King, Paul Murray, and Douglas Park. Yet all of a sudden it’s now an abomination for Ashley to get security . Whilst David Murray ,the man who destroyed Rangers , gave and took security over Ibrox without a word of criticism.

The 3 Bears and King are at it. Their game plan is based on not much more than rabble rousing. Their hypocrisy and disingenuous statements are almost at David Murray levels.

The various fans groups should also have a serious look at themselves. None of them , not a single one, decried the securities given over Ibrox to Bank of Scotland by David Murray. They are also guilty of hypocrisy for condemning Ashley when they were silent over Murray and Bank of Scotland.

The personal ambitions of the 3 Bears and King, especially King , seem to be the obvious reason for their hypocrisy. The fans have some excuse , given the highly emotional time it is for them. However they really should be wary of who they take their advice from.

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MaBawPosted on12:13 am - Jan 16, 2015


I think Celtic, Rangers and most other major clubs have a % of idiots in their support who would do better to find another hobby. I am surprised a number of the websites that allow vile comment have not been shut down.

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@ModgePKR

@ModgePKRPosted on12:45 am - Jan 16, 2015


Seems my previous post fell foul of some rules, although I’m not quite sure which.

Apologies for that.

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GoosyGoosyPosted on12:47 am - Jan 16, 2015


Why are so many posters and phone ins on TRFC sites so fond of using curse words.?
What does it add to their contribution?

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Ron.an.MathPosted on12:48 am - Jan 16, 2015


Green Oak at 7.28pm
I dont know either where exactly another new club would start in the new structure . BUT can we maybe do a quick canvass and ask if ,like me , fans of other clubs would accept that if . . . .
their club had suffered the same admin/liquidation experience visited on Rangers . That the post event “club” was indeed “new” and bereft of any history/titles ?
To slightly indelicately link some recent themes it would be at that point we could each perhaps say “je suis rangers”
Or maybe not . . in face of the ibrox fans intransigence and denial perhaps we are forever stuck with “VOUS ETES SEVCO ” ?

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John ClarkPosted on1:08 am - Jan 16, 2015


Hamerdoon says:
January 15, 2015 at 8:23 pm
‘…FFS the BBC in Scotland is an utter disgrace and not just in football.’
————–
A fish, we know, rots from the head down. So does the SFA. And so does BBC Scotland.
I recently gave Wilson some little credit for appearing to tr to be a little detached. Not one of my best calls, I’m afraid. He is as partisanly rotten as the big boss.
At our expense.

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grecian urnPosted on5:41 am - Jan 16, 2015


Cosmic Truth, for those of us who had a sheltered youth, what size is the back of an acid tab ❓

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upthehoopsPosted on6:53 am - Jan 16, 2015


Daily Record telling us the furious 3 Bears are calling in the Lawyers. Not that Ashley will have access to good lawyers of course!

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joburgt1mPosted on7:07 am - Jan 16, 2015


Adeste Fideles says:
January 15, 2015 at 11:21 pm

https://pbs.twimg.com/media/B7bK84_CUAAiClY.jpg

***

The DR have stooped so low as to use someone else’s joke as their headline.

————

Back to Valentines day 2012, read 2nd post.

Once again the ‘daily rag’ digs up other peoples work :mrgreen:

http://bonusbanter.com/threads/5738-Jokes-Rangers-administration-HMRC-tax-jokes

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Jake CantonaPosted on7:10 am - Jan 16, 2015


Quick thought on austerity measures. Since most of the first team squad seem unable to put in a shift on any given Saturday, could Llambias put them all on zero hours contracts?

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Northbhoy

NorthbhoyPosted on7:14 am - Jan 16, 2015


James Forrest
ON Fields of Green article, excellent read a fascinating insight into the shameful actions of Doncaster. The allegory of the long spoon is spot on.

In particular the theme around the TV contracts adds much to our understanding as does, the new to me, revelations on Doncaster’s side letter!

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Hoopy 7Posted on7:26 am - Jan 16, 2015


Good Morning

I too had a good read at the James Forrest post.

If half of it is true, and I think all of it is, then this is one CEO who should be dismissed as soon as possible.

Ashley is calling everyone’s bluff and is taking over Whyte’s mantle.

I am still firmly of the opinion that Whyte has always been behind everything, he is not a fool.

Given the behaviour of Doncaster and the cabal at the SFA can we be sure that the will do anything.
I believe that they will be like rabbits caught in the headlights.

Do they get tough and effectively kill Sevco, their baby or do they sit back and allow Ashley to do what he wants and effectively kill the Scottish Game.

While I appreciate that PL and Celtic have to be circumspect in what they do and say, in my opinion they should be gathering the chairmen of our clubs together to provide leadership and formulate a strategy going forward, preferably without Doncaster and cronies.

If the clubs sit back and take this then the game is indeed a bogey.

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jimlarkinPosted on7:39 am - Jan 16, 2015


http://www.whoateallthepies.tv/scottish_football/206754/snapshot-has-daily-record-nabbed-headline-of-the-year-award-already.html?

Who have the DR plagiarised (again)?

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yakutsuki

yakutsukiPosted on8:08 am - Jan 16, 2015


James Forrest – GREAT post last night!

I always felt there was something no quite right about the so called ‘Clause’ in the Sky TV deal.

He must realise there is massive mistrust
about his honesty/motives now surely?

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Tartanwulver

TartanwulverPosted on8:15 am - Jan 16, 2015


jimlarkin says:
January 16, 2015 at 7:39 am

http://www.whoateallthepies.tv/scottish_football/206754/snapshot-has-daily-record-nabbed-headline-of-the-year-award-already.html?

Who have the DR plagiarised (again)?
———————————————
The Daily Rehash at it again.

I note that at the top of their back page they have used the phrase ‘legalised theft’ – perhaps the sports editor’s subconscious is aware of the concept of plagiarism?

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jimlarkinPosted on8:33 am - Jan 16, 2015


Inverness Caley Thistle boss John Hughes wants Hampden shake-up

INVERNESS CALEY THISTLE boss John Hughes reckons it’s time for the suits at Hampden to clear out and get real football people in their place.

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Danish PastryPosted on8:41 am - Jan 16, 2015


Never thought I’d hear the phrase legalised theft from the Ibrox faithful, given their defence of years of tax dodges, stiffing creditors and worse. If Carlsberg did chickens coming home to roost, eh?

Still, there’s always humour, and some splendid suggestions for potential protests. Here’s one from this morning from ‘Charles Green RFC’:

@CharlesGreen
The: Protest – walk out on minutes 18 & 72 – give your clothes to a mate – he walks back in on 20 & 12 trying to say he’s the same guy

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borussiabeefburgPosted on8:51 am - Jan 16, 2015


jimlarkin says:
January 16, 2015 at 8:33 am

Inverness Caley Thistle boss John Hughes wants Hampden shake-up

INVERNESS CALEY THISTLE boss John Hughes reckons it’s time for the suits at Hampden to clear out and get real football people in their place.

While agreeing with the sentiment, ‘Yogi’ then goes on to encourage the authorities to get round the table with “football guys” like Walter Smith, John Blackley and Archie Knox.

He also is an advocate of “extending the Premiership to incorporate the likes of Rangers, Hearts and Hibs”.

One aspect I will agree with from his pondering concerns the amount of football matches scheduled for this time of the year: ““Some genius has come up with an idea that we play seven games in January, which is probably the worst month of the year, a time when fans have no money and it’s also freezing.”

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Danish PastryPosted on9:28 am - Jan 16, 2015


borussiabeefburg says:
January 16, 2015 at 8:51 am
6 0 Rate This
—-

Aye, heard him recently with ‘we need a strong Rangers’. Felt more sympathy if he’d said we need a ‘sensible, solvent Rangers’.

Maybe it’s a generational thing. I like the way the younger managers conduct themselves. Most don’t do the grovelling obeisance of the past.

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SmugasPosted on9:35 am - Jan 16, 2015


Hoopy 7 says:
January 16, 2015 at 7:26 am
Do they get tough and effectively kill Sevco, their baby or do they sit back and allow Ashley to do what he wants and effectively kill the Scottish Game.

Firstly, apologies hoopy if my editing your post down changes the context at all.

Ashley is the only show in town for RFC at the moment. He can, and probably will, keep the lights on and fulfil all their fixtures this season. On the massive proviso that RFC and NUFC don’t get to Europe together any time soon AND that transfer deals between the two clubs are as legit as possible, although quite how you police that I’m not entirely sure then I’m not entirely in agreement that it kills the Scottish game as such.

I don’t think for a minute Ashley is going to sugar daddy long term. I can however easily see (in fact I’m currently witnessing) a scenario where he is blackmailing the RRM to fund the walternomics club they (and Richard Wilson it seems) so hugely desire. Its not ideal. Far far from it. It cannot work long term, that much has been proven. But its not entirely fair (certainly on Ashley) to say it would kill the game either.

Does having a crap NUFC kill the premiership? No. You can argue (in fact I do) that having a massively overfunded Cheslsea, ManU etc kills the premiership but they appear to be doing it with their own money. As long as nobody is pulling the admin/liquidation chain and then pulling a circus continuation stunt the two situations are not the same.

I repeat, neither situation is anything like perfect. It would take someone with real vision to come up with something else, and that assumes a desire from the clubs to actually want to and I’m not convinced that that desire is there in big enough numbers.

Just some Friday musings.

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Resin_lab_dogPosted on9:41 am - Jan 16, 2015


Smugas says:
January 15, 2015 at 11:21 pm

32

0

Rate This

From the Herald

Three Bears: we’ll double £5m loan to Rangers if board keeps Ashley out of Ibrox

Genius. Pure genius.

I do, of course, refer to Mike Ashley.

________________________________________________________

Ashley gets to keep his onerous contracts.
The 3 bears stump up the cost of keeping the lights on.

Heads Mike wins. Tails, the 3 bears lose.

Pass the popcorn.

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SmugasPosted on9:44 am - Jan 16, 2015


Just on Richard Wilson btw. To be fair I didn’t hear him last night so possibly not fair that I comment at all, but its never stopped me before! 😀

It is patently obvious what he wants. As a fan (I don’t know his age but I’m guessing he wont recall much pre Murray) it is understandable (but not condonable on a publicly funded broadcaster FFS). My issue specifically with Richard as I have said before is that “the fabric of society,” or however he described it last night, needs money and to be fair he, unlike others doesn’t deny this. But he will not say why they need money. Its always “investment.” Its not, Richard, its bloody not! Its losses. Big fat hairy losses. He wants those losses because he wants what those losses give him, a competitive team on the park to support. But he, like so many others, do not appear to have the answer on whom the funding of those continuing losses should fall. To be fair, and to link in with the previous post, it would appear that Mike certainly does!

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SmugasPosted on9:50 am - Jan 16, 2015


Horace

The Business Plan

Don’t run up millions of debt

The End

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ecobhoyPosted on9:59 am - Jan 16, 2015


Barcabhoy says:
January 16, 2015 at 12:11 am

The various fans groups should also have a serious look at themselves. None of them , not a single one, decried the securities given over Ibrox to Bank of Scotland by David Murray. They are also guilty of hypocrisy for condemning Ashley when they were silent over Murray and Bank of Scotland.

The personal ambitions of the 3 Bears and King, especially King , seem to be the obvious reason for their hypocrisy. The fans have some excuse , given the highly emotional time it is for them. However they really should be wary of who they take their advice from.

You make a very insightful connection between the ‘Do as I say and not as I do’ brigade when it comes to the normal business practice of using security for loans which is as old as time.

It also goes right to the core of the ignorance and myth that has for generations been shaped and honed to form the mental path for Bears not only to reach their ‘Rightful Place’ but to always be in that place at the expense of others.

There was little opposition to the madness of the Murray era spending and how it was being financed. But it’s important to remember there was some and it came from, of all places, the FollowFollow fanzine. They repeatedly questioned the whole basis of Murraynomics and were howled down for their trouble at agms.

IMO we have to remember that the myth was forged in a period before social media was born and the main source of info was the ‘Club’ and the SMSM whose agendas dovetailed for various reasons some of which are shameful and still survive to this day.

But that’s of lesser importance than the basic ignorance ‘control’ that kept the vast bulk of Bears in place with their eyes firmly fixed on unending victories. There was always going to be a price to pay and that’s what’s happening now quite a bit later than I anticipated because I simply miscalculated what was going on at the Bank of Scotland which Scottish Polititcians of all parties have run a mile from.

I still have no idea of how it will end but I know that unless a majority of Rangers’ fans are prepared to abandon their ingrained WATP mentality and discard their ‘Rightful Place’ myth then it will not end well.

The structure of the fan groupings has also changed since the Murray era and the internet has created new fora where there are signs of more open debate and some critical and constructive thinking employed but on many of the more rabid and extreme fan sites you sometimes feel as though it’s the 17th Century and you are re-running the battles and emotions of that time.

Somehow a significant percentage of the Rangers support must get beyond that and embrace a multicultural Scotland with an all-inclusive society. These aren’t just fine words without meaning because the ideals behind them have to be continually fought for to establish and maintain them.

It would be easy to gloat at the dark place where Bears have landed but we have to get beyond that not just for the good of Scottish Football but to build a decent Scotland. But as I have repeatedly stated on here it’s not for others to dictate to Bears what kind of club they should have.

That is their choice and they will need to choose wisely and to do that they need to educate themselves about the actual reasons their club is where it is. That’s the challenge they face. It’s the challenge that other clubs have and are still facing currently and also that which stared Celtic in the face before Fergus. And sadly there are a number of clubs over they years which failed to rise to the challenge for a variety of reasons.

My personal concerns with Ashley are that his real objective isn’t simply controlling Ibrox but rather to create a franchise system for Scottish Football. I just don’t believe it’s about simply selling shirts to Bears.

As to the 3 Bears I don’t think they stand a chance in the financial stakes against Ashley unless thousands of successful Rangers businessmen back them. King’s motives and cash availability remain an enigma to me.

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roddybhoyPosted on10:00 am - Jan 16, 2015


proof if it was ever needed that the Daily Record and the SMSM read the blogs……..backpage headline stolen….they have no shame

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rougvielovesthejunglePosted on10:00 am - Jan 16, 2015


So there I was sitting having my tea and toast this morning when, after reading the real news on TSFM, I stumbled across an article on the BBC website stating that Rino Gattuso was in for the Hamilton Accies job and upon further reading that John Hartson was also interested in the position.

Whilst reading, and for my sins, I had Talk Sport on in the background. Didn’t they only have the afforementioned Mr Hartson on with Alan Brazil and didn’t Alan only ask John about the link! I’m paraphrasing here, but John categorically denied having any interest in the job and claimed it must be some agent at it.

Au contraire John, what has happened here is that some BBC journalist / PR spin man has again tried to create a link between Celtic FC and the team that plays in Govan. Truly desperate stuff and yet more confirmation of my assertion the other day that the BBC is now little better than the tabloid press.

A question I have is that has the BBC always been this bad? Clearly their choice of employees is questionable at best ranging from the embarrassingly neutral Mr Spiers to the embarrassingly inarticulate Mr Dodds but surely, surely we should expect a superior standard of reporting from our national broadcaster?

And don’t get me started on Richard Wilson’s performance last night :slamb: :slamb: :slamb:

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bards

bardsPosted on10:03 am - Jan 16, 2015


Interesting thing will be if sevco fans decide to stay away in protest at Ashley. General opinions seems to be that Ashley would happily press the ‘L’ button. Would he then sit on his shiny new assets until either;

* someone comes up with a MARKET VALUE offer to buy the stadium
* someone accepts onerous contract for long term rental of said stadium

How much is that according to the books, £40m ? Imagine having to first stump that amount up and then assemble a football operation. 😯

Given many bears would rather only have a team if it is where it belongs….

Game Over methinks.

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erniePosted on10:04 am - Jan 16, 2015


Horace_McGonigal107 says:
January 16, 2015 at 9:39 am
===================
I can’t talk for Dun Utd but in Aberdeen’s case it took a lot longer than 2 or 3 years to sort out the debt burden they had taken on by adopting an ill conceived business plan that failed for them as it did with others i.e. spending more than you earn AND more than could be feasibly recovered.
So about 10 years ago they stopped and cut their cloth to suit. Multiple years of low cost/no cost fitba deals and contracts followed while the much maligned Stewarty Milne worked away to get the debt discounted and raise some more incoming money. George Yule joined the board and these two along with Duncan Fraser got a deal sorted with the bank and with a new investor (contributor really) and the debt was bought out and debt to equity fixed with the new benefactors.
So the issue has not been since, never mind as a result, of Rangers being liquidated: this has been ongoing for some time and they are doing fine. Rangers, on the other hand , failed to see it never mind deal with it and the new Rangers have started off with the same blindness; what a bunch of dopes.

Edit to add: In the meantime you have posted another post. I apologise, I thought you were asking a question but you have a point to make, why not just table it? What is interesting is that the teams you mention include Aberdeen so I can confirm to you that the financial position they are in constitutes survival in business, not success. That’s the primary aim (financially) for all well run clubs in Scotland.

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SmugasPosted on10:18 am - Jan 16, 2015


Horace.

It is not the end, you’re right. But it is the beginning. Step one as it were.

If you run up debt it will ordinarily need to be paid back somehow. That is step Two.

If you take the view but we have to have debt in order to be competitive and win I would suggest you go back to step one, and also I refer you to Ernie’s answer re Aberdeen’s approach once they realised they were firmly in the s**t.

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neepheid

neepheidPosted on10:19 am - Jan 16, 2015


Horace_McGonigal107 says:
January 16, 2015 at 9:39 am

Celtic are the ONLY club which has suffered financially from the absence of a “Rangers” in the top flight. All the other clubs seem to have benefited.

As regards your final question, “how do you come up with a business plan than can eradicate millions of debt in a couple of years?”, I take you to mean the loss making machine at Ibrox? Because they are the only ones making millions of losses. TRFC had £20million in the bank as of January 2013. They were in the bottom tier of Scottish football, getting home crowds of 40k. Any fool could have put a team on the park to win that division on an annual playing budget of £2 million tops. Why they felt the need to spend £8 million is beyond my understanding, frankly. And why they spent getting on for a million a year on a poor manager is beyond me too. So just that alone could have saved £14 million over two years. Even regardless of onerous contracts, they could now have no external debt, and even some money in the bank to get them through to the top flight. It would have been very easy for any competent Board to achieve that.

I’ve read a conspiracy theory this morning to the effect that it was nasty Uncle Mike’s plan all along, in cahoots with Green, to spend spend spend, so as to drive them into the arms of Sports Direct, who would then pick up the assets cheap. I think that’s fanciful, myself. I simply think Ashley didn’t care how much cash was going out the door to others, so long as his position was protected. Now he’s had to step in to make sure he keeps what he’s already got, and he will doubtless pick up a few more goodies for his trouble.

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SmugasPosted on10:27 am - Jan 16, 2015


bards says:

January 16, 2015 at 10:03 am

Game over methinks
——————-
There was a picture doing the rounds that was very popular on the twitterati about a year ago of a squirrel very firmly ‘caught up’ trying to steal some nuts which completed the irony of the situation.

It is overly graphic for here, but it immediately sprung to mind when I heard of the imminent security.

Quick surf, sure you’ll find it.

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SmugasPosted on10:31 am - Jan 16, 2015


neepheid says:
January 16, 2015 at 10:19 am

Celtic are the ONLY club which has suffered financially from the absence of a “Rangers” in the top flight. All the other clubs seem to have benefited.
—————————

Which makes their voting conduct ever since all the stranger! I accept helping a fellow club (don’t start) in need to a degree, and in addition, there is certainly an ingrained/entrenched/enforced? feeling of wanting the precious old firm back, that cannot be denied either, but its an argument that only goes so far. Yet we never hear a dissenting voice.

Shame on all of them.

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fishnish

fishnishPosted on10:45 am - Jan 16, 2015


Smugas says:

There was a picture doing the rounds that was very popular on the twitterati about a year ago of a squirrel very firmly ‘caught up’ trying to steal some nuts which completed the irony of the situation.

It is overly graphic for here, but it immediately sprung to mind when I heard of the imminent security.

Quick surf, sure you’ll find it.
…………………………………………………
Ouch!

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scapaflow

scapaflowPosted on10:48 am - Jan 16, 2015


Rangers fans, and everyone else for that matter, should remember that there are two classes of issue facing Rangers

The first class , are the genuine legacy issues, which drove Rangers into liquidation in the first place. These were not limited to aggressive forms of tax avoidance, rather the tax avoidance, was a symptom of the unsustainablity of the underlying business model.

The second class, comprise, the so called “onerous” contracts, signed by the newco.

It appears that this loan, secured against the Crown Jewels, will perhaps deal with some of the class two issues, whilst also providing some working capital to keep the lights on.

Unless and until, sufficient funding is forthcoming to deal with all the class one and class two issues, Rangers will find themselves landing on a snake, and sliding right back to this square, marked emergency funding required, in a few short weeks or months. Only next time, the Crown Jewels won’t be available for placing in the pawnbrokers window.

Rangers newco, has no future, only the past, happening over and over again, now.

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