SFM – The Next Steps

ByTrisidium

SFM – The Next Steps

As we all know, this site emerged from the ashes of RTC. The wish of the original administrator of the site, one which I wholeheartedly share, was to keep together the wonderful community RTC had built, in terms of both personnel and spirit. There are still many individuals around who were also part of RTC, and regrettably many who are no longer with us. The RTC spirit however, that of a cross-party football site where issues can be discussed in a respectful and insightful manner remains. The “wisdom of the crowd” phenomenon is also with us to perhaps an even greater extent than before, and consequently SFM’s credentials as a formidable alternative to the print media have grown.

In recent times, many contributors have expressed frustration that we are pretty much a talking shop and little else; characterised as “a lot of gum bashing and no teeth”. I think that is fair comment up to a point, but then again our aim – up to now – has been to simply present an alternative view – a view that has increasingly become the fan view as opposed to the industry view (the industry being made up of club officials, players, and press).

In fact the way I see it personally, SFM has evolved to a point where it has become the watchdog (monitor if you will) of an industry which is subject to very little oversight. The Rangers situation will eventually be done with (no laughing at the back please), and like everything else will be consigned to history (albeit more than one). The same self-interest and lack of regard for sporting integrity though will still remain, and the need for oversight will remain also.

Having arrived at those conclusions,  we have two alternatives; the first is to remain as we are (which is not a bad place to be), and the second is that SFM has to expand its role.

In recent weeks, the mods have met to discuss this, and we think that we ought to give the latter option a try. As to how we want to achieve that, and we have come up with a skeleton plan as follows;

1. We need to move into the area of gathering news content as well as commenting on what appears elsewhere;

2. We should act as a cross-club portal to get good fan site content from all clubs to a wider audience;

3. We need to highlight the positives in the game as well as the negatives;

4. We should become an actively campaigning body, aligning with fan groups to lobby for the changes we think important.

 In order to achieve these objectives, more time will need to be spent on communication like podcasts, adding news content, expanding membership and building links with other fan groups. Time will also need to be spent  setting up features, attending press conferences etc. Later in the year, one of the mods will have much more time on his hands to help achieve this.

Podcasts, premium content, labour, organisation and all of the above costs money, and ultimately a subscription based model backed by sponsorship seems to be our best way of achieving that. In order to give us a head start, we will in the next few months be putting together a business-plan and a pitch for Crowd Funding investment.

This is not to say that our existing model has been a failure. We have successfully managed to keep ourselves afloat through the ad-hoc generosity of people in our community, although the inability to keep the podcasts going has been a bit frustrating. Finding income streams which are more solid will allow us to respond to events more quickly (for example mounting an ad campaign to respond to some event or other, or buying new equipment), and hopefully achieve all of our objectives – and build a bigger audience base for our message.

Of course a move of this nature will require that, in the interests of transparency, anonymity of SFM will have to be set aside. That will not affect any of our contributors, and our practice of using (sometimes) imaginative names on the blog will remain. However, for crowd funding to be successful, we will require to have a board in place, and there is no hiding place from Companies House. The make up of the board is also crucial, and in addition to consideration of blog members for that role, we will be looking to have respected people from without.

I imagine there may be a consequent subtle effect on moderation policy to take into account.

The reason I have made this post is to keep the community up to speed with events. Although we have decided to move forward to see if we can get support for our business plan, that plan is by no means finished. As I said earlier, the “wisdom of crowds” has made our community unique and given it its credibility. There’s a lot more wisdom out there we hope to tap into before we go ahead with our initiative.

We already had someone in mind for chairman of the new board, but events have conspired tragically to rob us of that – and had the effect of postponing this announcement. However we would like to hear suggestions for suitable outside candidates for board and committee places.

We also want to hear from you if you have a suggestion to be added to our wish list of SFM function above – or even if you think it is a mistake to embark on this course.

This is a very big move for SFM, so we don’t want to rush into anything. We need to listen to what you folks have to say, because if the merging SFM is not considered a better SFM by our community there is very little point in looking to fund it.

About the author

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.

3,023 Comments so far

cavansamPosted on3:21 pm - Jun 8, 2015


Hold on a sec is King saying that if people don’t buy seson tickets then he’ll make up the shortfall of the ‘overinvestment’? Then the fans should call his bluff and pay on a walk up basis, and how does he plan on attracting all of these SPL quality players in the Championship? more Newcastle loanees from his good buddy Mike? and he also plans on paying SPL wages, well are we talking Celtic SPL wages or Hamilton SPL wages, as someone already pointed out paying Celtic SPL wages worked out great this season didn’t it. This man is a stuffed shirt playing the Rangers fans for fools, will they or the Press ever see through this garbage.

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Resin_lab_dogPosted on3:31 pm - Jun 8, 2015


cavansam says:
Member: (24 comments)
June 8, 2015 at 3:21 pm

Hold on a sec is King saying ….

__________________________________________________

OK… Let me stop you there…

Read those words back…

Now engage brain…

Go on… have you worked it out yet!?

… hint … Do the words “Nomad in place” ring any bells?
… A South African judge’s description of the gentleman in question might help here….

Yes! Well done

The answer is we can all safely disregard anything the anointed one says as being other than what he intends/ has done/ actually means!
(For some mysterious reason this doesn’t work on bears though!? )

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tcup 2012Posted on3:49 pm - Jun 8, 2015


So King will increase spending
Was he talking about bringing in players?

Last years Spend £0:00
All loaners and out of contract

This years spend £0:01
Job done 😀

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Resin_lab_dogPosted on3:55 pm - Jun 8, 2015


Interesting.
Website says Credit and Debit payment options are available.
As yet however, the website is not offering STs for sale so can’t check whether this is true.

One thing is sure: If I was a bear looking to renew, I’d definitely be looking to use a credit card because of the CCA protection.

Amazed that any bank has afforded them this facility tbh, since they must be exposing themselves to unnecessary risk in the process.

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cavansamPosted on3:57 pm - Jun 8, 2015


tcup 2012

£0.01 = Spend
£0.02 = Overinvestment

😀

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yourhavingalaughPosted on4:09 pm - Jun 8, 2015


Re King
I think he has left his wallet on his mantelpiece back in South Africa ,there is certainly none of his wealth being poured into the hole on this visit.
Pony up guys,that’s what the man is saying.

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SmugasPosted on4:36 pm - Jun 8, 2015


In fairness to the bears I genuinely think they should invest!

Why?

Judging by that statement there is no way this guy is clever enough to cream anything 😯 . No, he’ll happily lose it all ‘overinvesting’ just like the last, sorry, last two, sorry last three owners which should, at the very least, buy them the championship.

So in summary, what he’s saying [glib and shameless warning notwithstanding], is that they now forecast European glories in three years, not the one year as promised.

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bobferrisPosted on4:38 pm - Jun 8, 2015


Hamilton Accies are not allowed debit card facilities yet, after the mismanagement of the Watson/Stepek years, so how on earth are the newest club allowed this?

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wottpiPosted on4:45 pm - Jun 8, 2015


easyJambo says:
June 8, 2015 at 3:20 pm

Easy, you usually have your finger on the pulse of the accounting speadsheets.

Whats you thoughts given I believe (from a T’Rangers site) the 2013-2104 showed an income of

“£25.2m in the year, of which £12.3m came from gate receipts and hospitality, and £7.6, came from the retail side. The remainder of the income came from sponsorship, advertising, broadcasting, commercial and other activities. That’s an increase of £6.1m on the previous period with the increase coming almost entirely on the retail side.”

And operating costs of

“The operating expenses for the year totalled £33.8m (£33.7m in the previous 13-month period). That total is made up of staff costs of £14.7m and general operating costs of £16.4 (covering the running costs of the business – everything from upkeep and maintenance, heat and light, telephones, etc). The increase in the general operating costs is put down to the increased cost of the retail operations although this amount is not specified.”

Revenue for the six months from end June 104 to end December 2014 was only £1m that led to a loss of £2.9m for the period.

Given the need for Ashley’s £5m and and further £3m (or is it £4.5M) from King and the three bears it must surely mean that a similar quantum of ‘over-investment is required just to stand still.

Are we still in the scenario that T’Rangers still need in the region of and additional £10m (and possibly more) above bread and butter revenue streams from somewhere or somebody every single season?

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vansenPosted on4:46 pm - Jun 8, 2015


Such a tease!

If King wants the full support of Rangers fans he only needs to place an amount on his investment, and invest it. Now he will wait until the fans give more money.

Wouldnt it be ironic if the fans took King’s advice from last summer and placed their season ticket money into a ‘trust’ to be paid match by match.

Cough up Dave ☺

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Resin_lab_dogPosted on4:53 pm - Jun 8, 2015


To summarise King’s Statement:

“Everyone needs to dig faster so we can get out of this hole we’ve dug ourselves into. Again!”

(… whereas, in fact,its probably time for someone to take the shovel off king, hit the ethereal entity in the face with with it, and cover it over quickly before it REALLY starts to smell. Again!)

… NURSE!!!

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TartanwulverPosted on4:55 pm - Jun 8, 2015


Having seen a few examples of Dave King speaking to the press, I can see how he convinces people. In between press conferences, people tend to go over the details of what he said the last time, study what actual action there has been, and conclude that there is a worrying lack of substance in important areas. But in front of the cameras, he is completely calm, deadpan even, speaks in measured tones, and seems to truly believe the reality, and the reasoning, of what he is saying. Hence all the season tickets selling out, Ashley a less than 1% risk, no debt worries, overinvestment to buy not just Championship but Premiership players, challenging Celtic for titles and European money in short order, etc, etc, all said as if they the most unremarkable things in the world. And to those who are looking for reassurance, he is the very voice and tone of reassurance. “Trust me, I’m a Real Rangers Man.” The psychological placebo to cure TRFC’s ills.

But we’re now in that awkward period between press conferences, when critical faculties are engaged and reality re-emerges. If King fails to reassure the fans, without sufficient belief in him, the placebo won’t work.

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nawlitePosted on5:03 pm - Jun 8, 2015


I wonder if DCK has inadvertently shot himself in the foot with his statement that ‘investors’ (including himself presumably, GASL caveat notwithstanding!) will invest “whatever it takes”. He qualifies this by clarifying that “whatever it takes” depends on the season ticket take. If it is as high as he hopes – a sell out no less! – the investors will need to put in less, but if take up is low, those investors will put in “whatever it takes”.

Looking at the fan sites, it is really clear that a great many still do not trust the new board and are waiting to see the colour of King’s oft-promised investment. If they wanted to , these fans could easily now decide NOT to buy and see what happens.

The only thing I can think is that he knows that those who boycotted the old board probably WILL buy because they now have their messiah in charge, while those who are still anti-King WILL buy because, well, that’s what they do – and did last year.

With the feeling from the fan sites, he’s not getting a sell out imo.

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easyJamboPosted on5:52 pm - Jun 8, 2015


wottpi says: June 8, 2015 at 4:45 pm

easyJambo says: June 8, 2015 at 3:20 pm

Given the need for Ashley’s £5m and and further £3m (or is it £4.5M) from King and the three bears it must surely mean that a similar quantum of ‘over-investment is required just to stand still.

Are we still in the scenario that T’Rangers still need in the region of and additional £10m (and possibly more) above bread and butter revenue streams from somewhere or somebody every single season?
============================
Based on King’s previous statements, I’d guess that they will be budgeting on a shortfall for next season of around £7M.

His previous pronouncement on Rangers TV before the play-off final suggested investment of £30M, rising to £37M-£40M if they missed out on the premiership.

The loss for the last 6 month reporting period was £2.856M, but understates how much cash the business was burning. The Cash flow statement showed a shortfall of £5.293M, which represented the operating loss plus the additional financing required(shares and loans).

The costs associated with Rangers Retail are probably better recorded in RR’s own accounts. In the year to April 2014 they made a gross profit of £1.17M on a turnover of £4.84M.

The club is only three weeks away from their financial year end. That should mark a low point for their ability to balance the books. The gap SHOULD start to narrow.

The significant Retail income and expenditure may disappear from the Accounts as SD now own 75% of the business. You may only see the retail “dividend” included as income, so the overall turnover figure may go down accordingly.

They should be able to make a dent in their outgoings next season, particularly in player and management wages, but I can’t see the bears being very happy with that.

The fundamental problems remains however, in that they continue to spend more than they earn. Until that is resolved the club will continue to have to go cap in hand to the fans and their “investors” to make up the shortfall. Over-investment is a pipedream.

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Billy BoycePosted on6:10 pm - Jun 8, 2015


Nawlite June 8th 5.03 p.m.

When I heard King was promising that he and his fellow investors would make up any shortfall in season ticket income, it reminded me of Sir David’s last share offer in 2005. He promised the fans that he would make up any deficit in his £50 million share offer. The fans duly obliged by buying £1m worth of shares, leaving the steel/property mogul to ‘borrow’ £49m from MIH.

If the bears are of the opinion that their latest Messiah will fork out the necessary dosh required to return their club to its rightful place regardless, then where is the need for them to part with their hard earned cash?

King and Co are speculating on a full house at Ibrox next season, bringing in some £12m – £14m. I hope they remember that 20% VAT has to be deducted from income, and that included in the S.T. holders will be something like up to a third of the 40,000 only paying child or OAP rates.

I think the bears are too entrenched in the ‘sugar-daddy’ mentality to realise that only they can save their club.

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SmugasPosted on6:21 pm - Jun 8, 2015


Home from work to a better pc so took the chance to go back and read the facebook entry from Sons of Strewth that someone posted at about 3pm regarding the press conference. All I can say is I really hope someone didn’t pay for the positive coverage especially when budgets are tight. You have to feel sorry for the author though. Is that you Mr Patey? You can lead a donkey to water time and time again it appears!

I love the clarification (and I paraphrase) – “no doubt all of his (King’s) critics will say that he didn’t say how much he would invest but if you listen to the press conference he quite clearly states that he will invest “enough” In fact no, if that’s not accurate enough he states he will invest “whatever it takes.” So that’s Ok then.

Are you sure they’re fireworks Mr Goebbels?

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armchairsupporterPosted on6:21 pm - Jun 8, 2015


Some nonsense on Radio Scotland yesterday afternoon – Chic Young seemed to go unchallenged as presenting the only possible business perspective on a Sevco return to the top flight. The fact that his business acumen went unquestioned was risible. The argument seemed to go along the lines that those who did not want Sevco back were only arguing from a partisan football supporter view. While no business argument could be made for not restoring Sevco to their ‘rightful’ place and Scottish football to the ‘natural order’. (He actually used both these phrases.)

The great flaw in this argument is that it makes no business sense whatsoever. Successful modern companies are forward looking and agile. They envision a future work tirelessly to adapt to market conditions. They do not pine for the old order and live in the past (all be it, their nostalgic, blinkered and fatally flawed perception of the past) – that only leads to extinction.

As soon as SMSM and SFA realise that, we wil be ready to move on.

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TheClumpanyPosted on6:56 pm - Jun 8, 2015


Good Evening.

Oh what joy to be around to see Dave King’s performance this afternoon.

And as a launch for a crucial round of season ticket sales it was all incredibly lame and substance-free.

Sevco really do seem to be asking the fans to put their faith in the Real Rangers Men to deliver. Oh and be “co-investors”.

That phrase even made me shudder, and *I’ve* no plans to buy an Ibrox season ticket!

Here’s a blog on the press conference, and the ‘preview’ from this morning.

https://theclumpany.wordpress.com/2015/06/08/set-moonbeams-to-stun/

https://theclumpany.wordpress.com/2015/06/08/prisoners-of-obsequiousness/

I really appreciate the interest in the blog that I get from TSFM members. A discerning audience!

Enjoy the rest of the day!

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valentinesclownPosted on7:01 pm - Jun 8, 2015


Today to be honest today was all I expected from Mr King and exactly what I was expecting from the smsm. I am more interested to hear what will be stated/spun after this weeks EGM.

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wottpiPosted on7:03 pm - Jun 8, 2015


easyJambo says:
June 8, 2015 at 5:52 pm

Billy Boyce says:
June 8, 2015 at 6:10 pm

Easy many thanks for your considered response.

Over Investing – a pipe dream indeed, just like Billy Boyce states the promise to make up short falls has been been tried before down Govan way.

In addition to the SDM bail outs you mention I seem to recall Charles of Normandy saying he was personally going to take up the share allocation that fans failed to buy up in the IPO.

Of course history shows us that despite all the talk of loyality etc the fans never invest to a level the board anticipate. Some form of Sugar Daddy money has been the norm now for decades.

Once folks have shelled out for their season tickets that about the most the majority can afford along with a bit of merchandise.

The fans are split on what benefits King may bring to the club. Those who shelled out last season to keep the club alive appear none to happy with the heid boycotter now coming in an ruling the roost. They will be very wary about parting with any more cash that the bare minimum. Especially if there is no obvious and significant investment from King et al and Ashley is still sitting pretty.

King and the 3 Bears may eventually put their hands in their pockets but given the figures that have been floated around the club for the last couple of decades they need very deep pockets.

May be wrong but I just can’t see them having the wherewithal to put in the cash required to quickly build a team that would be competitive in Europe, which is the standard they need if they are to be freed from the burden of being the fans sugar daddies.

There seems to be a view Euro cash is just around the corner. My guess is that it is a good way down the road round a few bends, through an underpass, across the other side of a river.

The current boards kid’s inheritance money may well run out before the aims and dreams are achieved.

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StevieBCPosted on7:15 pm - Jun 8, 2015


Sounds like a non-convincing presser – for those of a non-bear persuasion anyway.

And it does make you think: what did King actually tell / promise the SFA to secure his F&P status ? Did he promise immediate moonbeams to Ogilvie & Regan – and they have also been left as frustrated by his inaction, and continued parsimony ?

Shirley, for this upcoming season, more so than previous seasons perhaps, the SFA must ensure that King has a ‘reasonable’ business plan – and confirmed access to financing – to complete all TRFC fixtures in 2015/16 ?

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paddy malarkeyPosted on7:17 pm - Jun 8, 2015


Resin_lab_dog says:
Member: (451 comments)

June 8, 2015 at 11:28 am

paddy malarkey says:
Member: (13 comments)
June 8, 2015 at 10:33 am
Thanks for that . I’m not wise to the jiggery or the pokery of media massage .

Wrt Mr King , I’m sure I heard him use Charlie’s magic “500,000” before swallowing hard .(him, not me ).

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bfbpuzzledPosted on7:32 pm - Jun 8, 2015


We’re 500,000 shirts ever sold per annum? that is a whole heap of dead crimplenes…

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jean7brodiePosted on7:46 pm - Jun 8, 2015


Have just listened to the interview and crrrrringed!!!
Surely, surely, nobody with even one ounce of sense trusts this man.

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SmugasPosted on7:46 pm - Jun 8, 2015


Wottpi

I’ve actually just seen Chick Tongue (that was spellcheck, not me mods, so sue Apple) vision for what it is. Never mind competing with Celtic, the RRM’s club needs Europe just to survive, which they would if it wasn’t for the pesky diddies clogging up the works. As if I couldn’t despise the man any more!

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ianagainPosted on8:00 pm - Jun 8, 2015


Look were ditching the Tea Time assortment for yon Fancy foil wrapped Cadburys super xmas biccies. That is unless you lot all will only pay for the Foxes assortment. In which case its Rich tea all round.
Got it?
DK

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Danish PastryPosted on8:27 pm - Jun 8, 2015


ianagain says:
Member: (541 comments)
June 8, 2015 at 8:00 pm

Look were ditching the Tea Time assortment for yon Fancy foil wrapped Cadburys super xmas biccies. That is unless you lot all will only pay for the Foxes assortment. In which case its Rich tea all round.
Got it?
DK
———–

I like the biscuit analogy. I would suggest a bag of the nondescript broken biscuits ma auld maw used buy for us from time to time 😉

PS Is King just playing for time and acting the part since he knows Ashley is going to emerge as top dog?

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ianagainPosted on8:31 pm - Jun 8, 2015


Danish Pastry says:
Blog Writer: (1226 comments)

June 8, 2015 at 8:27 pm

ianagain says:
Member: (541 comments)
June 8, 2015 at 8:00 pm
Look were ditching the Tea Time assortment for yon Fancy foil wrapped Cadburys super xmas biccies. That is unless you lot all will only pay for the Foxes assortment. In which case its Rich tea all round.
Got it?
DK
———–

I like the biscuit analogy. I would suggest a bag of the nondescript broken biscuits ma auld maw used buy for us from time to time ?
————————————————
Always a glass topped barrel of them at Petries grocers where I worked in Cathcart as a van boy.

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jean7brodiePosted on8:34 pm - Jun 8, 2015


Tunnocks for me. Broken and misformed, remind you of something?

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StevieBCPosted on8:40 pm - Jun 8, 2015


easyJambo says:
Member: (641 comments)
June 8, 2015 at 2:51 pm
Summary of the press conference from Richard Wilson’s twitter feed:…

King: mandate is to get players who could perform in the Premiership, to greatly reduce risk for next season

King: we have three transfer windows to prepare for the top-flight and improve the squad

King: we will need money now to beef up squad. Players to be competitive in Premiership, so substantial investment in next months

King: need to win the league, so right to over-invest to have strong squad, so investment process accelerated
=====================================================

King seems to be saying that TRFC will need to bring in players, and of a minimum quality.
I.e. he seems to be indicating ‘significant’ transfers-in activity in terms of numbers if not in total pounds value.

But in the absence of a scouting network…
Is this not a prime example of where a seasoned Football Director could use his contacts / knowledge to bring in players quickly and relatively cheaply ? And leave the manager to get on with moulding a team ?

But King then states;

“King: not looking for director of football. Don’t have squad situation that allows that. Need to get manager in who can coach”

Who is the manager going to coach ?
=========================================
IMO, King should have stated that the TRFC manager would retain the remainder of the first team squad and the Academy resources / players and nobody else – so a manager with experience of bringing on and developing youth players would be top of the wish list.

Mibbees I’m being too pedantic, but IMO King continues to send out conflicting signals.

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Bayview GoldPosted on8:49 pm - Jun 8, 2015


yes but Dave what about investment?

DK 2015:
“King did not want to estimate a figure for the investment required this season.”

DK 2012:
“King argues that the CVA should be rejected because neither administrators Duff & Phelps nor Green’s consortium has provided enough information about how it would fund the acquisition of the club or invest in it in the future.”

ok, but Dave tickets?

DK 2015:
“The board’s hope is that they will sell out season tickets, which would generate between £12m and £13m”

DK 2012:
King also asserts that “it is clear from the CVA proposal that Mr Green intends to repeat Mr Whyte’s strategy of using season ticket sales to fund the club.”

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bect67Posted on9:00 pm - Jun 8, 2015


Good day all round for Sevco then:-

“Rangers to get warchest …(of other people’s (mostly gullible bears)money – ESPN

“We’ll spend whatever it takes (of other people’s …money) to get to the premiership”

Top flight quaking in their boots? Didn’t think so!

Finally, no worries then about the ‘onerous contracts’, replacing the head gardener and depleted squad.

Go Dave – yeah go!

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Danish PastryPosted on9:07 pm - Jun 8, 2015


More Dave King — this time a one-on-one with Jim Traynor. Apologies if posted. Don’t know if I’m listening right but JT seems to be asking straight questions he genuinely feels need to be answered. King really appealing for fans to stump up. Makes you wonder if inside the building there is growing unease about King.

http://www.rangers.co.uk/news/rangerstv/item/9438-exclusive-freeview-king-interview

PS Ah those broken bits of caramel & wafer…a treat up ma close 🙂

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Cygnus X-1Posted on9:15 pm - Jun 8, 2015


Tartanwulver says:
Member: (196 comments)
June 8, 2015 at 4:55 pm

I watched the DCK press conference today and my thoughts concurred exactly with Tartan,everyone else may not believe a word he says, but clearly HE does. It is as Bob Monkhouse said, “The public love sincerity, if you can fake that you’ve got it made”

No wonder he looks & speaks calmly, he’s put on this act for the South African courts for years, hiding, denying,obfuscating & trying to worm his way out of paying his taxes…the man’s a bulls#it expert on a big league level, a virtuoso, way above the clumsy & garrulous Mr C.Green.

And that’s exactly what his press conference was, 1 word, 2 syllables, bulls#it.I asked myself the question afterwards, imagine if PL or DD had given an interview like that, they would have been laughed at,derided for such palpable nonsense & Celtic fans would’ve hounded them from the country…..instead this guy is treated as some kind of brilliant & consummate expert instead of what we already know a glib & shameless liar.

Looks like the South African Judge got it spot on?

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wottpiPosted on9:25 pm - Jun 8, 2015


bfbpuzzled says:
June 8, 2015 at 7:32 pm

Just a wee reminder of the figures going back to 2005..

http://www.est1892.co.uk/forums/showthread.php?t=70446

Rangers not even given a mention. Celtic the top Scottish Team and numbers mostly likely 100k short of the magic 500,000.

Rangers apparently didn;t get close even in their UEFA cup nearly glory days.

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SmugasPosted on9:44 pm - Jun 8, 2015


If anyone requires a wee pick me up before bed, Richard Wilson on BBC about “King needing trust” does not disappoint.

Apparently, its manager first, then transfer budget. Everything else can wait. So illiquid, virtually bankrupt and questionable insolvency not pressing then!

And before anyone else bags it I copyright the Kitcheneresque King with the caption ‘I Need Your Trust’ emblazoned across it. Kids trust, pension trust, any old trust, I need it, big time.

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easyJamboPosted on10:09 pm - Jun 8, 2015


Danish Pastry says: June 8, 2015 at 9:07 pm
====================
The Traynor interview questions were probably more direct than those in the press conference but still not particularly demanding.

Summary of points from the Traynor interview:

Confirms that they are looking for 45,000 ST sales…….. wtf.

New manager to be confirmed by the middle of next week.

A couple of contenders withdrew after the play-off defeat.

Looking for 6 or 7 new players for the new season to replace the 11 who left at the end of their contracts.

No fixed budget for the new manager.

Will accelerate spending on players if potential signing deemed worthwhile.

Still not revealing what he will invest, even a minimum amount.

They won’t voluntarily repay the SD loan.

We have met our commitments to the fans (King & the 3 bears investments and promises from the EGM)

We have to co-invest with the fans.

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ianagainPosted on10:23 pm - Jun 8, 2015


It may be of interest to those who believe in the myth of “the battle of Fir Park” and the egregious and taunting despicable behaviour of the ‘Well fans that’s been monotonised in the rags, that in fact the biggest “battle” took place between the RRM in the gers end and their own lot in the executive boxes, shortbread and coins were exchanged apparently.
See broken biscuits see life.
Details on the Well podcast.

http://www.steelmenonline.co.uk/forums/index.php?showtopic=14597&page=17

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The Cat NR1Posted on10:46 pm - Jun 8, 2015


Smugas says:
Member: (824 comments)
June 8, 2015 at 7:46 pm

Wottpi

I’ve actually just seen Chick Tongue (that was spellcheck, not me mods, so sue Apple) vision for what it is. Never mind competing with Celtic, the RRM’s club needs Europe just to survive, which they would if it wasn’t for the pesky diddies clogging up the works. As if I couldn’t despise the man any more!
======================================================
Chick Young must be looking forward to seeing his beloved Buddies locking horns with Hibs and the other Championship clubs as they bid to return to their rightful place in the top division.

Or is he even aware that they got relegated due to his obsession with events elsewhere?

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ianagainPosted on10:48 pm - Jun 8, 2015


easyJambo says:
Member: (642 comments)

June 8, 2015 at 10:09 pm

Danish Pastry says: June 8, 2015 at 9:07 pm
====================
The Traynor interview questions were probably more direct than those in the press conference but still not particularly demanding.

Summary of points from the Traynor interview:

Confirms that they are looking for 45,000 ST sales…….. wtf.

New manager to be confirmed by the middle of next week.

A couple of contenders withdrew after the play-off defeat.

Looking for 6 or 7 new players for the new season to replace the 11 who left at the end of their contracts.

No fixed budget for the new manager.

Will accelerate spending on players if potential signing deemed worthwhile.

Still not revealing what he will invest, even a minimum amount.

They won’t voluntarily repay the SD loan.

We have met our commitments to the fans (King & the 3 bears investments and promises from the EGM)

We have to co-invest with the fans.
============================================================

Is this not very much looking like /barcas succinct investigation into the DK finances as being very close to home.
IE Ive got but 20mil left to my name and I need others urgently to back me up, be it fans be it RRM from anywhere.
Methinks a cry in the dark.

View Comment

ianagainPosted on10:56 pm - Jun 8, 2015


Ok im wrong the BBC say so

 Phil MacGiollaBhain retweeted

TheTributeAct ‏@TheTributeAct · 7 hrs7 hours ago

TheTributeAct retweeted Douglas Fraser
Come on Douglas. You’re going to tell your readers that this is untrue lunacy aren’t you?

TheTributeAct added,

Douglas Fraser @BBCDouglasF
#Rangers doesn’t have debt, by default: Dave King. “Financially, it’s very sound. We’re going to increase the running costs”

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ianagainPosted on11:11 pm - Jun 8, 2015


So whose these:

Gers fans buying from this lot

ONLINE TICKET SALES / TICKET AREA
Welcome to the ticket area (“Ticket Area”) of the official website of The Rangers Football Club (the “Club”). The Ticket Area is operated by IRIS Ticketing on behalf of the Club.

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ianagainPosted on11:14 pm - Jun 8, 2015


Oh answered masel offy near Uncle Mike#

Company Overview

As of November 20, 2008, IRIS Ticketing Solutions was acquired by IRIS Group Limited. IRIS Ticketing Solutions provides integrated ticketing and box office systems solutions. It offers IRIS TALENT Sport, a ticketing and relationship management software; IRIS Venue, a venue ticketing and admission system software; IRIS Web, a ticket sales and marketing solution; IRIS Express, an online ticketing system; IRIS Parking, which provides parking solutions for airport, rail, and exhibition centres; IRIS Travel, an online ticket software for the travel industry; and IRIS Marketing for personalized email, SMS, print, and telephone marketing campaigns. The company serves sporting venues, theatres, fest…

Detailed Description

Network House

Langford Locks

Kidlington, OX5 1GA

United Kingdom

Founded in 1999

Phone:

44 1865 856 100

Fax:

44 1865 856 101

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ianagainPosted on11:15 pm - Jun 8, 2015


Well done Mike, hear from your reps on Friday I assume bye bye Dave.

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fishnishPosted on11:29 pm - Jun 8, 2015


jean7brodiejean7brodie says:
Member: (306 comments)
June 8, 2015 at 8:34 pm
Tunnocks for me. Broken and misformed, remind you of something?
…………………………………
Tunnocks?
Far too posh for me, Jean, but the metaphor holds.

Fruit Cake Ends. That works.
(Or mibbe it’s just a generation thing, not posh.)

View Comment

GoosyGoosyPosted on11:57 pm - Jun 8, 2015


“With a club like Rangers there are a lot of names that might come forward, but it’s important that we balance the obvious need to make an appointment with getting it right,” explained King, who ruled out the possibility of the club immediately introducing a director of football.

“We’re looking for an appointment to see us through the next three years.”
,,,,,,,,,,,
To which the Judge said …….

So this guy won`t be fired until after 7 in a row ?

View Comment

The Cat NR1Posted on12:01 am - Jun 9, 2015


From what I’ve read of today’s King’s Speech, we will be looking at Third Rangers fairly soon.

Absolutely nothing that I’ve read suggests there is even a rudimentary short term budget in place at Ibrox, and there is not even the suggestion of a medium or long term financial strategy.

Neil Doncaster would approve, but can you imagine Leanne Dempster, Anne Budge or Peter Lawwell trying to run their respective clubs in such a way?

When David McNally become CE down here in NR1 after our old mate Mr Doncaster’s reign of destruction had finished, he presented the board with a seven year plan that was fully costed and budgeted and was designed to take the club from the third tier and on the brink of administration back to the EPL after a long absence. The plan was successful. I see none of that in today’s vision for the future.

The RIFC PLC group made off the radar losses even during the bears’ most gullible phase under :mrgreen:
With limited access to funding and the entire TRFC structure needing a proper overhaul rather than superficial redecoration, it seems that the whole enterprise is a hostage to fickle supporters’ results-based fortune. If Ibrox is full, then they will crawl along losing money. If not, the losses will be eye watering due the uncontrolled cost base.

A recipe for disaster and eventual administration by the looks of it.

I wonder if Neil Patey agrees? :irony:

View Comment

TheClumpanyPosted on12:11 am - Jun 9, 2015


Good Morning (just!)

If you haven’t seen it, this Roddy Forsyth Q&A with King is absolutely extraordinary. Almost every answer is a ‘keeper’.

http://www.telegraph.co.uk/sport/football/teams/rangers/11661269/Rangers-news-Dave-King-pledges-clearout-as-11-players-are-released.html

My favourite section is:

RF: MIKE ASHLEY WANTS HIS £5 MILLION LOAN REPAID.

DK: “I don’t see the Ashley loan being a loan in isolation. In fact, I don’t see it as a loan, quite frankly. It is one of those situations we will certainly discuss with his people but I don’t think the club should be repaying the loan. If we have to, we will. But I’d much rather see funds going into the club, rather than repaying that loan.

“That’s part of the broader commercial discussion we will have with them. One way or another, we will cater for it. It is an interest free loan, it is free capital for the club and I think it should stay on that basis.”

I bet His Big Mikeness is delighted to hear that!

And my second-favourite gem is:

RF: WHAT DO YOU SAY WHEN A CANDIDATE WANTS TO SEE THE BUDGET?

DK: “There’s no budget.”

Breathtaking stuff!

Do keep enjoying the show…

View Comment

AuldheidPosted on12:14 am - Jun 9, 2015


At the end of the day the SFA is made up of member clubs and the time is coming to ask if those clubs have lost their collective senses.

If you support Hibs, QoS, St Mirren, Falkirk or any other club with a chance of returning to the top tier, why is your club not protesting at what appears to be TRFC ‘ s game plan, which is to spend what it cannot afford to reduce the chances of YOUR club, who are operating on an affordability basis, getting promoted?

I was surprised that no one club questioned the 5 loans from Newcastle. Had the other 4 players contributed what Vudic did, then TRFC might not only have reached the play off final but won a place in the top flight. Would that have been acceptable to Motherwell?

Has the idea of TRFC operating outside affordability constraints taken such a hold that like an abused partner in an abusive relationship, none of the abused can see any other way of operating?

This emperor has no clothes ffs, and yet he struts his stuff whilst other clubs look away because what is strutting is not pretty.

Grow a set for the sake of yourselves and our game. Install rules akin to domestic FFP ( the first “F” stands for FAIR btw) and stop this nonsense before another season gets underway.

The guys DK says will invest to cover the shortfall, will they get their money back? Or are they simply prepared to take a punt and lose it?

Why is such a gamble being allowed?

The only way for TRFC to gain any credibility is to play fair, but at the end of the day when but for fans opposition they would be playing in the top tier, what incentive is their for them to play by the same rules as their opponents?

The mindset that ruined them appears to be alive and well and uncorrected by events. Their absolute dependence on CL money that caused them to misrepresent the status of the wee tax bill in 2011, is reflected in current thinking. Go for broke because what is the worst that can happen?

That worst should be no entry into our game unless affordability and fair play are as much a constraint on them as on their opposition. Buy the players they can afford NOW, like their opponents are doing, should be demanded by SFA clubs.

Chances are they will be good enough if coached and managed properly. Or is it the chances that they won’t be that rules thinking, thinking that our game is poorer for TRFC ‘ S absence and so it must be avoided at all cost?

There is so much more value and honour in a league that is won fairly, but never having experienced that for a considerable number of years, how do you get that point across to those who see nothing wrong in taking a gamble?

How is a value instilled when no one understands the value of doing so?

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The Cat NR1Posted on12:23 am - Jun 9, 2015


TheClumpany says:
Member: (53 comments)
June 9, 2015 at 12:11 am

Good Morning (just!)

If you haven’t seen it, this Roddy Forsyth Q&A with King is absolutely extraordinary. Almost every answer is a ‘keeper’.

http://www.telegraph.co.uk/sport/football/teams/rangers/11661269/Rangers-news-Dave-King-pledges-clearout-as-11-players-are-released.html

My favourite section is:

RF: MIKE ASHLEY WANTS HIS £5 MILLION LOAN REPAID.

DK: “I don’t see the Ashley loan being a loan in isolation. In fact, I don’t see it as a loan, quite frankly. It is one of those situations we will certainly discuss with his people but I don’t think the club should be repaying the loan. If we have to, we will. But I’d much rather see funds going into the club, rather than repaying that loan.

“That’s part of the broader commercial discussion we will have with them. One way or another, we will cater for it. It is an interest free loan, it is free capital for the club and I think it should stay on that basis.”

I bet His Big Mikeness is delighted to hear that!

And my second-favourite gem is:

RF: WHAT DO YOU SAY WHEN A CANDIDATE WANTS TO SEE THE BUDGET?

DK: “There’s no budget.”

Breathtaking stuff!

Do keep enjoying the show…
==========================================================
DK could turn out to have a higher long-term comedy rating than CG.

CG knew he was bullshitting, but I get the impression that despite being branded as a G&SL, DK actually believes that what he is saying is true, no matter how ludicrous it appears to the rest of us. Delusional, perhaps?

View Comment

DenPosted on12:25 am - Jun 9, 2015


I don’t think todays performance will sway the supporters who harbour doubts about King, they will have to deliver something good from the tent on Friday or more will fall into that category.

The manner that they lost to Motherwell has dented the expectation of marching to the top. I wouldn’t be surprised if a lot of fans had got to appreciate the freedom to pay as you go rather than by season ticket, since it is going to be championship fare for at least another season and if they go bust you don’t lose money.

No manager and a squad that is poorer than the one that Motherwell brushed aside.

I wouldn’t be surprised if they will unveil McCall or Walter as the new manager (or a management dream ticket), and as a sweetener that they have secured Boyd and Miller on extended deals.

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Resin_lab_dogPosted on12:27 am - Jun 9, 2015


Auldheid says:
Blog Writer: (451 comments)
June 9, 2015 at 12:14 am

________________________________________________

The future belongs to clubs like Caley.
Can’t compete on finances.
Talking is done on the park.
How many Porche Driving Aston Villa players will look back in years to come and say “I won a top flight cup medal. I played in Europe”.

James Vincent will be able to.
He probably earns less than many of the contributors on this site.

But hands up who wouldn’t trade places with him?

The ICT Aberdeen and Falkirk finals are where the future lies.
Spectacle. Contest. Honesty. Fans. Kids.
We are in the opposite of armageddon.
TRFC and their MSM acolytes are an irrelevance.

If you could buy it, those mercenaries would have done so already. And those times when they did… it is worth nothing!
Gretna bought their success and became history. Rangers? They once had history. Bought success. Now they are history.
ICT: earned their success. Still making history.
As are Hearts. Aberdeen. Celtic. Not looking too shabby for Hibs. County are making their mark…
etc.

See… the inescapable truth is success is worth more when it is the result of honest endeavour and not simply superficial and bought cheaply. An honest failure is worth more than a triumph stolen by deception. And when people try to cheat you, you are entitled to rub their noses in it!
Reflect on that Bears. And give Mr King a Paddington style stare. The kind you should have given Mr Whyte?

Anyway: Are you listening Mr Ogilvie? Happy retirement Sir. One or 2 things may need cleared up subsequently. But don’t call us, we’ll call you!
Your time has passed.

View Comment

paddy malarkeyPosted on12:37 am - Jun 9, 2015


Cygnus X-1 says:
Member: (52 comments)

June 8, 2015 at 9:15 pm

Tartanwulver says:
Member: (196 comments)
June 8, 2015 at 4:55 pm

As I pointed to earlier, watch the way he swallows hard at the end . It’s “I’ve done it , I’ve got away with it. They’ve swallowed it” . Even my missus , who has zero interest in football and was only watching the news .said “He’s lying” and I doubt she knows who DK is .

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The Cat NR1Posted on1:04 am - Jun 9, 2015


TheClumpany says:
Member: (53 comments)
June 9, 2015 at 12:11 am

Good Morning (just!)

If you haven’t seen it, this Roddy Forsyth Q&A with King is absolutely extraordinary. Almost every answer is a ‘keeper’.

http://www.telegraph.co.uk/sport/football/teams/rangers/11661269/Rangers-news-Dave-King-pledges-clearout-as-11-players-are-released.html

My favourite section is:

RF: MIKE ASHLEY WANTS HIS £5 MILLION LOAN REPAID.

DK: “I don’t see the Ashley loan being a loan in isolation. In fact, I don’t see it as a loan, quite frankly. It is one of those situations we will certainly discuss with his people but I don’t think the club should be repaying the loan. If we have to, we will. But I’d much rather see funds going into the club, rather than repaying that loan.

“That’s part of the broader commercial discussion we will have with them. One way or another, we will cater for it. It is an interest free loan, it is free capital for the club and I think it should stay on that basis.”
===================================================
Going back to the bit about the MASH loan.
I can’t get my head around what King is trying to say there.
Is he saying that they shouldn’t be repaying the loan but MASH should be paying them?

My impression, and that of the AIM, as it was announced on the RIFC PLC AIM site, was that MASH had loaned RIFC PLC £5M that was secured by various RIFC PLC group assets, such as freehold properties and shareholdings in a joint venture. The loan had clearly specified terms for repayment that were set out in the AIM statement.

What part of the agreement does King have an issue with? It seems to me that he’s reducing to nil the chance of the RIFC PLC group being able to borrow anything in the future from anyone else if that is an indication of how he intends to treat potential lenders.

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easyJamboPosted on1:04 am - Jun 9, 2015


I’ve had a look through the last 20 years accounts of the Oldco looking for their ST numbers. The highest ST sales number was 43,187 in season 2006/07.

Even in the 9 in row years the ST sales were around 35K. To sell 45K in the second tier next season is just pie in the sky.

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The Cat NR1Posted on1:15 am - Jun 9, 2015


easyJambo says:
Member: (643 comments)
June 9, 2015 at 1:04 am

I’ve had a look through the last 20 years accounts of the Oldco looking for their ST numbers. The highest ST sales number was 43,187 in season 2006/07.

Even in the 9 in row years the ST sales were around 35K. To sell 45K in the second tier next season is just pie in the sky.
======================
Aye, but would it be a world record for a second tier club?
We haven’t had one of those announcements from Ibrox for a while.
CG was always good for a world record or two, so come on Dave you’re slacking. :irony:

View Comment

wottpiPosted on1:20 am - Jun 9, 2015


easyJambo says:
June 9, 2015 at 1:04 am

Indeed.
Just waded through Roddy’s article and both he and King are a shambles.
In the first part of the article he quotes King’s answer (from the later Q&A section of the piece) to a question about underwriting any shortfall in a share issue but assigns it to what may happens if the season ticket target is not met.

The thrust of the question is the same but the two issues are different. It may have been better to ask what King is going to do to make up a the shortfall if season tickets are low AND the share issue flops.

Regardless the answer given does give much confidence that the 3 bears and other investors are champing at the bit to part with their cash.

As discussed the other day King is being cagey so as to link anything he does to how much ‘appetite’ the others ‘might’ have. Therefore if they fail to cough up its not his fault!!

Frankly with regard to some of his answers about the footballing side of things there is a hint of the way Mad Vlad used Hearts to play Fantasy Football Manager.

View Comment

Resin_lab_dogPosted on1:23 am - Jun 9, 2015


I think I have worked out King’s scam, I mean scheme here.

Its not ‘Pump and dump’.
Its ‘dump and pump’.

He talks about rights issue and loans. So the money they are putting is will be converted to shares at a future date.
In response to share price that they set without the regulatory oversight of a stock exchange.

So lets say they owe us £3m and we set the share price at 0.01p.
Oops .. what happened to the other shareholders?

They either matched our investment or got diluted to waste.

I think Mash sees this.

If he doesn’t get his £5m pronto, there’s gonna be a bug fat WUO.

If the other shareholders see this as well, then King could get his ass kicked at the EGM.

…. seconds out…

View Comment

Resin_lab_dogPosted on1:41 am - Jun 9, 2015


The Cat NR1 says:
Member: (437 comments)
June 9, 2015 at 1:04 am

_________________________________________

In answer to your question, I don’t think he has any intention of ‘lending’ from elsewhere.
As I intimated above his intention is for the consortium to ‘lend’ to the club on an unsecured basis while driving down the shareholder value until a point is reached where he can effect a favourable d4e and own the whole shebang as cheaply as possible on the back of a nominal shareprice because of near insolvency and no trading platform.

Level 5 can talk down the value by dissing scottish football as a whole, then talk it back up when it is time for King to cash in.

That’s his plan.

His Chances?

SFA

View Comment

FisianiPosted on2:11 am - Jun 9, 2015


Dave King needs the charisma of cheeky Ally and the barrow boy Charlie Green to pull off a PR stunt. Deadpan a la Chick Murray does not work for raising passion and impulsive buying. (listen to daytime TV commercial voices). A pathetic sales attempt., especially implying that he would make up any shortfall thus negating any need for punters to part with cash.
He said he hoped for 50,000 ST sales. A never before achieved total. They have raised the prices and can offer Dumbarton and Alloa etc as attractive opponents. I doubt they will reach 20,000.
Mike Ashley could get the court to ring fence the first 15,000 leaving 5,000 at $400 or 200,000. Not enough to keep the lights on till the season starts.How many will buy a ST knowing that their money goes directly to Ashley. A preemptive move like this by Ashley could see ST sales plummet to less than 10,000.

View Comment

upthehoopsPosted on7:03 am - Jun 9, 2015


I see this morning King is quoted as saying yesterday ‘there is no upper limit’ on what a new manager will have to spend. In that case I’m sure the world’s best would be interested. What chairman of any other Scottish club would get away with such an outrageous statement? It’s desperate stuff, and every time King breaks cover and holds a presser the media appear to be waiting on the jaw dropping announcement on financial backing they have craved since Whyte first entered the building. Perhaps a time machine back to the heady days of the old Bank of Scotland is their only hope. Even yesterday they ran with headlines of a new boss by Friday (Paul Murray’s words) then on the very same day ran with more headlines of no new boss by Friday (Dave King’s words). Even when this so called dream partnership are contradicting each other the media simply bob back and forth in a sea of postivity.

PS Isn’t there an EGM on Friday?

View Comment

wottpiPosted on9:42 am - Jun 9, 2015


I see the DR is reporting that Celtic rose 4 place to 34th in ‘The world’s most valuable football club brands – Top 50’

(Well done to a sound Celtic management team for doing more than holding their own in the bigger world where others have money thrown at them)

But of course the headline is they still need T’Rangers help to sustain their standing in world football.

If that was indeed the case and taking on board Peter Lawwell’s ‘additional £10m ‘ if T’Rangers were competitive then surely that will just put Celtic even further ahead in terms of brand recognition and the opportunity to increase revenues. King et al would then have to raid other funds beyond the kids inheritance cash just to keep pace.

I know I rib some Hoops fans occasionally for being paranoid but when you see stuff like this it is no wonder some guys think the world is against them.

It surely can’t just be folk on here and other forums and blogs that appreciate a bit of sound intelligent analysis of the state of Scottish football and individual clubs as opposed to the continual drip feed of powder puff nonsense harking back to a time that needs to be confined to the dustbin.

I know its the DR but the highbrow outlets are not much better.

View Comment

bfbpuzzledPosted on9:51 am - Jun 9, 2015


Wil have to spend says the King does this mean require to spend but there not be the funds available or does this mean that the funds are being given to spend for an unspecified objective or the funds will be given to reach the playing of Zadok’s theme tune over Govan. The first two are dissembling the last preposterous in the light of known knows.
Is it good PR to say that a loan is not going to be paid back (dignity aside)? It seems to me that this will appeal to the less thoughtful supporter and ring nuclear sirens among others.

During the banking crisis it was commented about certain bank directors that it is not possible to ascertain from their words and demeanour whether they were extremely clever and switched on or well presented dumplings. Not only bankers I think.

View Comment

AllyjamboPosted on9:51 am - Jun 9, 2015


Danish Pastry says:
Blog Writer: (1227 comments)
June 8, 2015 at 9:07 pm

More Dave King — this time a one-on-one with Jim Traynor. Apologies if posted. Don’t know if I’m listening right but JT seems to be asking straight questions he genuinely feels need to be answered. King really appealing for fans to stump up. Makes you wonder if inside the building there is growing unease about King.

http://www.rangers.co.uk/news/rangerstv/item/9438-exclusive-freeview-king-interview
————

That word that entered the Scottish football lexicon about it 3 years ago, ‘quantum’, has surprisingly disappeared from use by the men from the Ibrox boardroom. Not just the word, but the figures that would let us know what the quantum was. I can see how people, unaware of King’s true nature, could be fooled into parting with their cash and joining his various ‘enterprises’from the way he avoids giving any actual figures but somehow makes that sound like a positive.

As to the question JT asked, I have seen this type of ‘grilling’ of a chief executive before, many years ago, in an in house PR video where the chief executive of BoS was ‘interviewed’ by a well known TV news reporter. It was clear then, as it is now, that the answers were written before the questions, and the ‘grilling’ was, as it is in this interview, a complete sham to fool the target audience.

If you want proof of that, there was no more than a second’s thinking time between the asking of the questions and the calm, measured responses. Who can possibly do that if they are not expecting the question at exactly that moment and worded exactly in the way they were?

Mr King is a very good actor, remembers and delivers his script perfectly; I’m sure a certain South African judge saw a very similar performance on a number of occassions over a number of years.

View Comment

FisianiPosted on10:19 am - Jun 9, 2015


An entire team gone from the squad. 11 players shown the door. No scouting system. Apparently 6 players (or more)of PREMIERSHIP quality wanted before first Petrofac game in early July. Manager, perhaps next week has to win the Championship or gone. Payscale say 60,000/month. Hibs, St Mirren, QOS and Falkirk will surely lie down rather than go for pesky promotion. Meanwhile Ally the gardener still being paid, 70,000 a month till December and 278,000 a month still going out on rental payments.
Ashley still making loads of money from replica shirts. Anyone got any good news? It all looks like Liquidation to me.

View Comment

y4rmyPosted on10:32 am - Jun 9, 2015


There are additional comments from “John James” to go with those linked earlier from McMurdo’s blog.
I strongly suspect, as someone on here suggested (AllyJambo?), that “John James”=Jack Irvine and that he is now working on behalf of Mike Ashley. There’s a lot of detail here (and in later comments) that would be hard to acquire without some inside knowledge, but given the potential source it should probably be taken with a large pinch of salt. Anyway,…

https://rangerssupportersloyal.wordpress.com/2015/06/05/the-sound-of-silence/comment-page-1/#comment-1394

The Sports Direct ‘facility’ was carefully crafted to ensure that Ashley would not be exposed by a hostile takeover. I and many others have commented on the securities on the fixed assets, but I have seen no comment on the Floating Charge. This charge is on all assets and all revenue. Therefore as soon as the new board are in default on 22 June, irrespective of any votes, Ashley could ring fence the first £5M of the ST income in an action raised at The Court of Session. However, should his resolution have the support of the majority of shareholders, he would have the authority to remove every office bearer from RIFC.

This Kenny is why he is watching the unsecured loans with intent. It proves that the £5M quantum was available to the new board. Having access to the funds and not paying debts will not be well received in court.

Furthermore, the new board are culpable for not acting in the best interests of shareholders when RIFC was removed from the London Stock Exchange Alternative Investment Market. The culpability of the new board was compounded by the failure of the OTC share exchange scheme, which had no uptake. There is a causal link between the failure of the OTC exchange and the new board’s inability to satisfy the criteria required by the ISDX Plus exchange.

So what we have is a board who have, through their negligence, incompetence or malfeasance, not acted in the best interests of shareholders. Ashley, as an activist shareholder, will act to protect his investment of 8.92% and in his capacity as CEO of MASH, the holding parent of Sports Direct plc.

Kenny, Ashley is a man of few words. He is also a man of his word. By calling an EGM we can conclude that he has been following the current paper trail with intent. If the current loans are being made subject to a ‘side letter’ agreement of an equity swap, this is corporate malfeasance. Directors can be arrested and imprisoned should this be proven.

On your second point Kenny, in regard to MICROmega, it’s as clear to me, as the land grab is to you, that this will be one of the options that King, and his fellow fake accountant/partner in crime, Iain Gregory Morris (The Greg), will be looking at.

MICROmega has acquired numerous small underfunded companies in South Africa.
King and Morris are not business angels. Between them they own 100% of the equity. King, through a family trust (naturally) owns 78% of the equity.

Given that no UK exchange would accept any company with a convicted criminal as its Chairman, should King wish to raise money from the fans to invest in Rangers, he could engage in a takeover of RIFC/TRFCL for a nominal sum and an equity swap in MICROmega shares. With majority control, King could then engage in an IPO in The MICROmega Holdings Group to ostensibly raise money for Rangers.

Another acquisition would be used by King & Morris to further enhance the MHG share price. They would then quietly dump the shares to raise as much as possible, this time paying Capital Gains Tax. The shares would be worthless. Rangers would be forced into administration.

Any company King encounters or creates is an opportunity to enrich himself to the pecuniary disadvantage of others.

Rangers owe him £20M, minus the BDO payment. He will do whatever it takes to recoup his losses. Burning Rangers fans will come easily to him.

View Comment

The Cat NR1Posted on10:48 am - Jun 9, 2015


Resin_lab_dog says:
Member: (454 comments)
June 9, 2015 at 1:41 am

The Cat NR1 says:
Member: (437 comments)
June 9, 2015 at 1:04 am

_________________________________________

In answer to your question, I don’t think he has any intention of ‘lending’ from elsewhere.
As I intimated above his intention is for the consortium to ‘lend’ to the club on an unsecured basis while driving down the shareholder value until a point is reached where he can effect a favourable d4e and own the whole shebang as cheaply as possible on the back of a nominal shareprice because of near insolvency and no trading platform.

Level 5 can talk down the value by dissing scottish football as a whole, then talk it back up when it is time for King to cash in.

That’s his plan.

His Chances?

SFA
========================
RLD
I think you’re spot on and I did post something along similar lines fairly recently.

DK is taking a huge risk playing poker with MA, though.
MA has had DK’s number from day 1, when he realised that DK’s wealth is not just off the radar but off the table altogether. The only access that DK had to real money is by draining his family trust accounts.

There’s only one winner now that MA has manoeuvred DK into the hotseat and has forced him to reveal his (empty) hand to the bears. The SMSM and BBC fanzine website can try and spin it the other way as much as they like but neither they nor DK are alchemists (unlike CG). Come Friday, it will be time for DK to produce something tangible rather than just offering RRM credentials, as so far he’s been played like a sap by the puppetmaster.

The circumstances surrounding the delisting and prior share price manipulation have yet to be fully investigated (I know!), but Friday may bring that back into the public domain if the relentless PR guff loses momentum over the next few days.

Perhaps, the return of the cardigan and brogues of dignity will be announced just before the EGM, turning it into a Nurembergesque rally as the gazebo gets showered with tenners as the genuflecting bears hail the third coming. Or maybe not.

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AllyjamboPosted on11:01 am - Jun 9, 2015


I have long believed that it’s what blusterers like King don’t tell us that is more revealing than what they do say.

In his latest pronouncements, King tells us it’s not in TRFC’s interest to repay the loan; it is interest free so why not keep this free capital?; he, King, looks at it as part of a package…etc.

What he doesn’t say is that SD/Ashley are not in a position to demand repayment, or that it is fixed for 5 years, or that there is no default clause in the loan agreement.

Did it never occur to him to reassure the bears with such positive details? Did he just forget to mention it? Or, would it be untrue, or unwise, to state it as fact?

What a perfect opportunity that hard hitting interview with Jim Traynor was for the PR man, sorry, ex-journalist, to ask if SD/Ashley could demand repayment of the loan? But maybe some things are best left hanging for as long as possible?

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mcfcPosted on11:21 am - Jun 9, 2015


Dave’s Winging It Again

The £13mil Dave hopes to raise from STs is innumerate. To be a good liar, your lies need to be convincing – at least plausible – not provable as lies by simple arithmetic. The best possible revenue for 45,000 ST sales after VAT is £11.7mil with 100% Adult sales. A more sensible mix gives £9.7mil after VAT.

Adult 100% x £312 = £14,040,000
Concession 0% x £210 = £0
Juvenile 0% x £53 = £0
Incl VAT £14,040,000
Excl VAT £11,700,000

Adult 70% x £312 = £9,828,000
Concession 15% x £210 = £1,417,500
Juvenile 15% x £53 = £357,750
Incl VAT £11,603,250
Excl VAT £9,669,375

The only way these numbers work is if Dave is quoting ST prices ex VAT. More likely, Dave is delusional – hoping to wing it through because that’s what he wants to happen – a bit like SARS – but this flight is certain to last less than 13 years before an amicable settlement.

PS apologies if this has already been covered – I’m way behind with my reading

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Resin_lab_dogPosted on11:38 am - Jun 9, 2015


RE: ICT
_____________________________________________

With no disrespect intended to fans of either of the pre-merger clubs (which predates my association with the club): Caley is a convenient short hand: nothing more or less (I use all of the terms below interchangeably):

The official club line is as follows:

“The club’s official name is Inverness Caledonian Thistle and we are very proud of that name. However it is a bit of a mouthful for most commentators and fans so the official name is frequently shortened.

Given the club’s history some fans will call the team “Caley” some will call us “Thistle” or “The Jags” and others will call us Caley Thistle or the “CaleyJags”. No-one is wrong, they are all acceptable as is “ICT”, Inverness CT, or just Inverness … It is your team as much as ours so call it by the name you are most comfortable with.”

Extracted from:

http://ictfc.com/fans/fan-guide

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Danish PastryPosted on11:45 am - Jun 9, 2015


Allyjambo on June 9, 2015 at 9:51 am
———–

Good points Ally. I was just sensing a Traynor who was fishing for a bit more, something more substantial that the fans could maybe take as a reassurance. It wasn’t forthcoming. Just more flannel. And I see even the oft-quoted expert Neil Patey is weighing in on the side caution 😯

http://www.clyde1.com/sport/news/king-warned-over-financial-plan/

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The Cat NR1Posted on11:48 am - Jun 9, 2015


mcfc says:
Member: (1342 comments)
June 9, 2015 at 11:21 am

Dave’s Winging It Again

The £13mil Dave hopes to raise from STs is innumerate. To be a good liar, your lies need to be convincing – at least plausible – not provable as lies by simple arithmetic. The best possible revenue for 45,000 ST sales after VAT is £11.7mil with 100% Adult sales. A more sensible mix gives £9.7mil after VAT.

Adult 100% x £312 = £14,040,000
Concession 0% x £210 = £0
Juvenile 0% x £53 = £0
Incl VAT £14,040,000
Excl VAT £11,700,000

Adult 70% x £312 = £9,828,000
Concession 15% x £210 = £1,417,500
Juvenile 15% x £53 = £357,750
Incl VAT £11,603,250
Excl VAT £9,669,375

The only way these numbers work is if Dave is quoting ST prices ex VAT. More likely, Dave is delusional – hoping to wing it through because that’s what he wants to happen – a bit like SRAs – but this flight is certain to last 13 years before an amicable settlement.

PS apologies if this has already been covered – I’m way behind with my reading
============================
MCFC
I don’t think the basic maths had been clearly set out in a table like you did above.
I mentioned overnight that DK’s behaviour was exhibiting delusional symptoms and you may to have underlined that with the above straightforward analysis that anyone in the SMSM or BBC fanzine staff could have done with the aid of a calculator.

Is there a higher cost ST in some parts of the ground that would increase the quantum? If 10K were £500 each, that would increase the maximum by just over £1.5M to achieve that £13M with no concessions. However, using your second adult/concession split would still only give just over £11M, still £2M short.

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TincksPosted on11:50 am - Jun 9, 2015


Danish Pastry says:
June 8, 2015 at 11:44 am

TheClumpany says:
Member: (51 comments)
June 8, 2015 at 11:33 am
———-

PS Nice one Clumps. It’s all far, far too sensible. You’ll never get a job as journo 🙂 Liked The Prisoner photos by the way. What a weird series. I was used to The Saint and Steed & Mrs Peel having proper ‘endings’. But The Prisoner was kind of odd as you got used to a non-ending ending. A bit bleak as I remember.
——————————————————

DP, Clumps,

I think you’ve hit upon the perfect metaphor.

If I were pitching the script of my new epic mini series, “Glasgow Rangers the Sevco Years” I’d say to the producer, “it’s a bit off beat, each episode has a non-ending ending. It’s all a bit bleak”

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cavansamPosted on12:01 pm - Jun 9, 2015


The Cat NR1

Well the website says Season ticket prices for 2015/16 start FROM as little as £53 for juveniles, £312 for adults and £210 for concessions so you could be right. £500 would be taking the proverbial though surely!

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mcfcPosted on12:05 pm - Jun 9, 2015


The Cat NR1 says:
Member: (439 comments)
June 9, 2015 at 11:48 am

=======================================================

Thanks. The best possible interpretation is that King is desperately spinning plates in the hope of something changing for the better. Maybe Murray (P) is living in hope of “investment” from American bears. But time is short and things are not looking good. King is losing the crowd – he doesn’t have the magic touch of Charles Green – who could make the most ridiculous claims – but still charm the bears. I think King’s “Over Investment” will mark his time at Ibrox, like Green’s “500,000,000 bears”.

“Is there a higher cost ST in some parts of the ground that would increase the quantum? If 10K were £500 each, ” would be a very good question for a journalist to ask – after realising the numbers given don’t add up 🙂

Meanwhile, Ashley must be sitting in his citadel stroking his big white cat (not a euphemism) and smiling one hell of a smile.

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