In an interview in yesterday’s Scotland on Sunday prospective Rangers owner Charles Green came up with a remarkable justification for loaning the £8.3m he proposes to put into Rangers if a CVA is accepted instead of putting the money in as equity. The loan will be repayable with a healthy interest return for investors.
Green said “The reason it is a loan is because I never wanted the 26,000 existing shareholders diluted and destroyed. If I put all those monies in as equity on the first day, they would have been down to nothing. This is a classic example of where I have spent hours with my advisers and paid them big fees to protect the minority and I am now the bad guy, this crooked guy who is putting a loan in to take 4000 per cent interest on it.”
Rangers 26,000 minority shareholders are unlikely to know what percentage of the club they own, or worry too much if that percentage is diluted, but this ‘concern’ is utilised by Green to justify his return.
We like this guy. I hope he hangs around.
220 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- »
Re-naming?
What’s wrong with Tesco?
The latest from the referendum campaign:
Is The Yes Campaign Flagging Already?
So Rangers are still using money that isn’t theirs???
:o)
Jungle Jim:
I have that from an old NTV. I use it to wind up huns all the time!!
I now have an electronic version. That has made my day.
In true Hillbilly style they’re running on the ole Confederate dollars that used to come free with chewing gum and [graphically violent] picture cards
In addition to this can you maybe find the corresponding article from the local papers praising the orcs good behaviour??
A delicious irony if ever there was one.
Having them both, dated the same day would be just brilliant to have.
Gordon_J – Is The Yes Campaign Flagging Already?
Let’s hope so.
Apparently the campaign wasn’t mental enough for the Greens, who want to turn Scotland into a sort of eco-North Korea.
It does seem to still contain the right amount of mentalness for the Scottish Socialist Party, who want to turn Scotland into a sort of cold Cuba.
You can tell a lot about a person by their friends. (thumbsup)
This link to bbc page was posted last night by leftclicktic.
Scroll down and on left you will see that all SPL teams are shown as under investigation by SFA with exception of them who are shown as being able to sign players.
http://www.bbc.co.uk/sport/football/scottish-premier
Shocking.
Paul67 et al – you may remember that I tend to favour a CVA for a number of reasons.
What’s your view on the veracity of the following statements (that I’m about to make) :
• If CVA is accepted then the big tax case remains a major threat to Rangers FC.
• If CVA is rejected then big tax case is irrelevant to Newco FC.
Cheers.
Stunning piece of hunguffery from ole Shortbread. Straight out of the 60s.
Musters,
From what I gather acceptance of a CVA would include the outcome of the BTC I.e. if it is currently 9p in the pound and BTC comes in at circa £70m then payout in the pound would drop accordingly (to something like 1p in the pound )
Paul67
Glasgow’s Green&Whyte!!!
He has a list of 19 players 5 of whom are playing at the Euro’s but can only offer less than 10p in the £1 to creditors and the taxpayers.
Jackanory tell me a story…
estorilbhoy shoorely CVA agreement could only include the BTC if it was concluded by Thursday?
When ate the fixtures out?
Green going to ask the SPL board to make provision for making signings due to rangers special circumstances of not paying the transfer fees for the players they signed last season.
Has there ever been a club in the history of the game with less dignity…
Good ole Tory family values ?
Italian radio newsreader has just said that David Cameron [ and Mrs Cameron ] left their daughter[alone] in a boozer .
Chillax to the max .
Is this true ?
My view is that the CVA and the stories about transfers are being conducted in such a way that the club will be liquidated and ultimately Green & Co. can point the finger elsewhere (HMRC, Tiketus, Craig Whyte) and start to build the club up from the lower leagues.
CultsBhoy loves being 1st forever & ever on 11 June, 2012 at 10:19 said:
Cults ,away and get a slice of toast and some coffee,obviously
other thing on your mind.
Green confidently replied: “No money is required for players, most are free because of the financial crisis across Europe. That’s why I’ve added £1.5m to the budget.”
Celtic will never keep up with this smooth operator and the managerial genius that is FPLG…
SofTunis – it’s true; Dave and Davetta Cameron in a bit of a mix-up over who had the bairn. Good job he doesn’t hold down a position of trust and responsibility.
South Of Tunis on 11 June, 2012 at 10:20 said:
Good ole Tory family values ?
Italian radio newsreader has just said that David Cameron [ and Mrs Cameron ] left their daughter[alone] in a boozer .
Chillax to the max .
Is this true ?
…………….
100% TRUE!!!!
Worst thing was when they went back she halfway through a pint of guiness!..
[allegedy of course]
South Of Tunis on 11 June, 2012 at 10:20 said:
Heard the same thing on the radio this mowning going to work.
Some piece of work eh? Left his own daughter outside a pub for just under an hour.
Then again do you expect anything less from these looneys.
South Of Tunis – I hope they at least left her with some Euros for booze and the fruit machine. (thumbsup)
Posted earlier
Re the McGarry article, why would HMRC and Ticketless accept a CVA when liquidation would release a lot more cash via saleable assets ? Why would Green be allowed access to buy the assets for £5m when Ibrox and Murray park plus players would release a lot more funds for the creditors ? Is this not why HMRC have appointed liquidators in waiting ?
estorilbhoy,
check your BBC link, astonishing.
Heard on radio this morning too that agent Green has identified 19 players for Sally to sign, 5 of whon are playing in Euros. B******s should pay for the players they already have, (and some of whom they have already sold at a profit,) before thinking about acquiring any more!
Would a newco be hampered by a signing ban? By definition it would not have suffered an insolvency event.
Is this just more muddying of the already murky waters and another reason to reject the CVA?
I love the PR job that has been done on the story that it was only 15 minutes and when he went back to get her, she was cheerfully helping staff.
AYE RIGHT!
Sitting in a corner scared out her wits more like. If that story is true, the pub should get done for employing a minor…
Looking forward to the spin that Dave is merely human —– preoccupied with the crisis, hosepipe bans and the England back 5.
Philvis
I’m not only a Chinese spy but I prefer an Asda 10 item breakfast, 2 sausage , 2 bacon, 1 black pudding, 2 eggs(fried), 2 potato scones and beans. Two sachets of brown sauce please.
Zheng Zhi is coming on a ton
stevie67 on 11 June, 2012 at 10:29 said:
nothing more than Greenbeams
Again, how on earth can Charles Green speak for RFC yet considering he doesn’t even own them yet?
Gonna be a good week?
“After leaving, Mr Cameron went home in one car with his bodyguards and thought Nancy was with his wife and their other children in another car.
“Mrs Cameron had assumed her eldest daughter was with her father. The mistake was discovered when they got home. When the prime minister returned to collect Nancy he found her helping staff”
The truth is that they had her working – and I bet she didn’t get the minimum wage either.
Re: Cameron’s daughter getting. Left in the pub. At least she was indoors. My da used leave outside with a packet of crisps and a bottle of coke. Girl doesn’t know how lucky she is !
Why have they not had redundancies? Why haven’t they sold anybody yet? If they sold Davis/McGregor they would get enough money to pay some of their bills instead of accruing and compounding others.
If the CVA fails does that mean that Duff and Phelps are redundant (disservices no longer required) and they join the other unsecured creditors?
I expect Social Work Dept will be making a full investigation.
Gordon_J at 10:32:
Would a newco be hampered by a signing ban? By definition it would not have suffered an insolvency event.
At the last SPL meeting it was decided that any decision to accept a request from a a newco to purcahse a share from an existing member would be taken by all members of the SPL and that an 8-4 vote was required. In addition, any sanctions could be debated and voted on as well by members so in theory, a newco could be accepted but with a transfer ban in force for a year and a points deduction.
Presumably as in most cases a proposal will be sent to SPL members and there will be informal discussions amoung all members as to whether they would accept a newco and what sanctions should be applied before a vote will take place.
Mort
paul67
hope you have got the server ready for L day
its the final countdown
i have a holiday on thursday maybe duff and duffer will extend the deadline day……_____________________________________________