Everything Has Changed

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Olemungobhoy says: Saturday, March 9, 2013 at 01:59 4 1 Rate …

Comment on Everything Has Changed by neepheid.

olemungobhoy says:
Saturday, March 9, 2013 at 01:59
4 1 Rate This
scapaflow14 says:

Saturday, March 9, 2013 at 00:59

Rat

We are in a holding pattern at the moment. It is clear that Group took in sufficient funds to keep Rangers in business for the time being.
scapaflow14 says:

Saturday, March 9, 2013 at 00:59
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Oh … are we really that clear ? Quote below from Deloittes who prepared the recent financial statement

“A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing
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Deloittes haven’t conducted an audit, but I can guarantee that they will have seen the bank statements before putting their name to any sort of financial statement. In any case, the RIFC directors aren’t going to risk jail time by telling the AIM market blatant and easily disproven lies about how much money is in the bank. That really would be stupid.

I posted some figures on cash flow last week- it looks like RIFC have enough cash to get through to the end of next season, so long as they don’t have any exceptional expenditure and can keep the same level of support and season ticket sales. But by May/June 2014 at the latest they will need to raise more money just to keep going, plus a load more for the famous “war chest”.

It will be interesting to see whether the institutions come up with the money, or if it’s back to the peepil for cash. I’m still gobsmacked that £17m of real money was put in by institutions last time round, so no more predictions from me on that front.

neepheid Also Commented

Everything Has Changed
carlislecelt says:
Friday, March 8, 2013 at 17:24
16 1 Rate This
Every night and more I look on briefly at the TSFM for a bit of inspiration and indeed for a booster after the recent shenanigans. Every night and more I am disappointed I still say the Scottish game is knackered. I will keep looking in however at least for a while.
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I know exactly how you feel. The next significant piece of news will be the phoney reorganisation, involving- surprise, surprise- the accelerated elevation of TRFC. My only remaining interest is to see just how far they dare push it. It’s blindingly obvious that they want TRFC in the top flight next season if possible. Do they dare go for it in one? Is anyone going to stop them? If (that should probably be when) they succeed, then it’s mission accomplished, game set and match, and anyone with an honest bone in their body had better just forget Scottish football- it’s as bent as a horseshoe.


Everything Has Changed
wottpi says:
Friday, March 8, 2013 at 09:39
0 1 Rate This
I have said before that friends who have met Campbell Ogilvie say he comes across as a decent guy.
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A decent guy would have stood down from his position as soon as it became clear that he was heavily conflicted. There’s a lot more to being a decent guy than being good company in the pub or on the golf course. It’s about doing the right (dare I say honourable) thing even when it’s inconvenient.


Everything Has Changed
incredibleadamspark says:
Thursday, March 7, 2013 at 21:38
0 3 Rate This
I agree that The Rangers got of lightly (understatement noted) but to people posting links about Nimmo Smith; Would you have posted these links had Rangers been stripped of titles? Moot point, I know, but I didn’t see any of this stuff before the result was announced. Google is a wonderful thing and it’s easy to be wise after the event.
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As you say, Google’s a wonderful thing. The stuff about LNS and the Magic Circle has been in the public domain for years. All anyone had to do was look. I personally had no interest in the “title stripping” issue itself- it’s the bizarre judgement that interests me. However I am very interested in exactly why the highest echelons of our judiciary always find a way to do the “establishment club” a favour. More significant to me in that context was the “not proven” verdict on Messrs McCoist and Green. Now that really was a stretch.

LNS appears to be the Scottish establishment’s “go-to man” whenever a whitewash is required. I have kept off the subject until now because a lot of posters had a lot of faith in LNS, so why rain on their parade. And I would have kept off the subject of the Magic Circle, except that Mr Shield has been very dismissive of “conspiracy theorists” today. Well, I’m no conspiracy theorist, but since he has raised the point, I think everyone is entitled to know where that stink of rotting fish is coming from, and make their own judgement.


Recent Comments by neepheid

The Case for a New SFA.
Warburton recruits another of the Brentford backroom boys-

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-make-another-hire-appoint-6661188

Looks like “Moneyball” is coming to Scotland with this one. And is there anyone left at Brentford- apart from former Ibrox Wonderkid Lewis Macleod?


Scottish Football: An Honest Game, Honestly Governed?
http://www.scotzine.com/2014/02/is-dave-kings-scaremongering-part-of-a-long-term-plan-to-buy-club-on-cheap/

Just saw this after my previous post. It sort of ties in with my own thoughts on where this is going.


Scottish Football: An Honest Game, Honestly Governed?
I see that the RIFC share price has been on an upward trend for a few weeks now, it has reached 30p today from a low of 24p, admittedly on thin trading.

Am I being too cynical in thinking that the share price reflects the improved chances of RIFC getting rid of TRFC once and for all, while retaining the properties? If that can be done, and soon, then the shares look cheap at 30p. If it isn’t done, then all the future holds for the shares is dilution, as cash calls are made to keep TRFC afloat.

I think the market believes the football side is about to be ditched. I can’t make sense of a rising share price otherwise.


Podcast Episode 2 – Stuart Cosgrove
The Wallace statement just confirms for me that in business terms he is a lightweight, and that he is totally out of his depth in the Ibrox snakepit. Loads of words to say nothing- why not take the opportunity to answer King’s questions? The fact that he doesn’t confirm that the properties are unencumbered, for example, just invites the conclusion that they are, in fact, encumbered. To my simple way of thinking, anyway.


Podcast Episode 2 – Stuart Cosgrove
andy graham (@andygraham66) says:
Thursday, February 27, 2014 at 14:10

Sorry, I have just found the link within your post. Here it is anyway-

http://www.unionoffans.org/statements/2014/2/27/union-of-fans-statement-270214


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