Time to Make Things Happen

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ALLYJAMBO JUNE 17, 2017 at 20:56   Thanks for that, Jimbo, though it …

Comment on Time to Make Things Happen by Homunculus.

ALLYJAMBO
JUNE 17, 2017 at 20:56  
Thanks for that, Jimbo, though it has to be remembered that TRFC can expect a healthy income from gate receipts and TV money at each stage they reach …

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Why does that have to be “remembered”. 

What makes you think that they will have a substantial home gate in the first qualifying stage of the Europa cup, no matter the opposition. 

You may be right, however I don’t think it’s a given. 

Homunculus Also Commented

Time to Make Things Happen
I have to disagree BRTH.

I like the PLC being run as a business and the financial decisions being made on that basis, rather than on the basis of fans wanting to spend more money in order to buy “success”.

Too many people talk about “speculating to accumulate” when all that really means is gambling with the club’s future. 

In my view a football club is much more than it’s first team and securing the club’s future is more important than winning things. Clearly the two are linked and a successful club is more likely to have more income. 

“True fan ownership” is only a reasonable option if the true fans also understand the business side of the game. 

I believe that Celtic are where they are because the business is being run properly, I believe that Hearts are re-building from administration for the same reason, I believe Rangers died because the business was run as a rich man’s hobby. 


Time to Make Things Happen
ALLYJAMBO
JUNE 17, 2017 at 18:27 

a) They have a major investor/consortium in the pipeline.
b) There is another round of directors’ loans coming.
c) They have promises of investment (USA?).
d) They have plans to go ahead with the dissolution of pre-emption rights and believe a share/rights issue will be highly successful.
e) They think Craig Whyte was a genius and that it was only because he had to stick with Super Ally    that his master plan to make millions from Europe failed.
f) They intend crashing the bus.

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a, b, and c, would all really just be loans, call them “soft loans” if people want, it’s still debt. The previous club went down the debt for “success” route. We know what happened there. A major sponsorship deal would be a different scenario though. As I understand it they have just re-signed with Red32.

d, Most of that income is already spent, the c£14m debt is apparently to be swapped for equity. So the shares are already paid for, or at least the majority are.

e, They would have to win the SPFL premiership, then qualify for the CL group stages to make massive money from Europe. That is not happening this season, they did not win the premiership. 

f, I don’t see it, not intentionally. Why would “surrender no” Johnston have agreed to join the board. Losing one club is careless …


Time to Make Things Happen
As people are discussing the resolution it might be worth putting the actual wording here. I believe this is the one.

This AGM requests the Board exercise the provision contained in the Procedural Rules Governing the UEFA Club Financial Control Body Article 10 with jurisdiction and investigation responsibilities identified in articles 3 & 11 (Note 1), by referring/bringing to the attention of the UEFA Club Financial Control Body (CFCB), the licensing administration practices of the Scottish Football Association (SFA), requesting the CFCB undertake a review and investigate the SFA’s implementation of UEFA & SFA license compliance requirements, with regard to qualification, administration and granting of licenses to compete in football competitions under both SFA and UEFA jurisdiction, since the implementation of the Club Licensing and Financial Fair Play Regulations of 2010.


Recent Comments by Homunculus

Moving On Time?
John Clark 21st December 2020 at 23:22

I think the point is that the business has to record the difference between the purchase price of the assets, and their value, in the next set of accounts.

So what they are basically saying (normally) is that we bought that bakery business (for example) for £100 pounds, buy the tangible assets, the ovens etc, are only worth £80 so we paid other £20 for the existing customer base, the reputation etc, and that is just referred to in it's totality as the "goodwill".

As with  lot of accountancy stuff it all just looks like smoke and mirror to lay people like me. 

In Rangers case the tangible assets were, in their opinion worth a whole lot more than what they paid, but they still have to record that figure and like I have been saying, that is the dead giveaway and admission that they underpaid.

I suspect it will be part of BDO's case against the administrator.

As ever this is very much my layman's understanding with apologies to those who actually understand these things.


Moving On Time?
John Clark 18th December 2020 at 18:41

If I remember correctly there was a whole load of discussion wih regards the quality of some of the items and it turned out some was made in China, some was made in India and I think some was made in Europe, I have no idea which manufacturer actually made the stuff but I suspect it was just factories who were able to produce what was required so long as they were given the materials and the patterns.

I don't think that's too unusual but I have no experience in the field. 


Moving On Time?
Timtim 16th December 2020 at 19:54

Clearly the King is dead for Keith.

He has changed sides to the one on which his bread is now buttered.

To be fair on the current board, King's move was a bit off, even for him. He is trying to milk the fans for all he can, the board are not happy about that because that was an integral part of their plan.

They are never going to raise the full amount, certainly not quickly, but I believe he has said they can buy his shares in tranches so he could be getting regular payments from them for quite some time. 


Moving On Time?
John Clark 14th December 2020 at 17:13

I think BDO's £29m civil action against the administrator is more likely to bring out more of the truth than a botched criminal action by Crown Office as reported to them by Police Scotland.

BDO have taken their time, presumably investigated the matter properly and think they have enough to take the matter to the civil Courts. I would be surprised if they don't instruct top civil lawyers to carry out the action on their behalf. 

Bearing in mind BDO have probably already spent a lot of the money they have brought in, another £29m would be a nice wee addition to the pot.


Moving On Time?
John Clark 13th December 2020 at 14:02

 

One thing that still puzzles me is why, it seems, none of the other bidders to purchase the club to keep it going as a 'going concern' did not squeal at the time about the arbitrary selection of Green as the 'preferred' one who could pick up the assets cheap, while the club went into liquidation?

Why Green? why did the Administrators think that would best for them, for the creditors? A short bidding war for the assets would surely have raised at least a few tens of thousands more for the creditors.

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Absolutely none of that was a factor in the administrator's decision making from what I can see. The creditors were irrelevant. 

They were working towards a pre-determined outcome involving Whyte and Green, There may have been a bit of improvisation when the CVA was rejected and Whyte was no longer required but other than that I firmly believe it was a pre-determined outcome. Let's wait and see what is determined by the ongoing proceedings. 

Remember the sale did not go ahead with the preferred bidder / chosen one. The assets were sold to another company with a very similar name, Sevco Scotland Ltd. No-one seems to ever have answered the question, when was that agreed. I believe novation requires all parties to agree to it. 

The aim was a CVA, a debt free Rangers, still the same club, still in the top division of the league etc.

When that was rejected and liquidation (ongoing) started there was a wee bit of the truth, then the re-writing of history, then where we are now. 

 


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