I can’t tell you how many statements I’ve read from those trying to bring down Newco Rangers (bonne chance) but not one comes near to approaching the key question: what can they offer the the men and women who own shares in Newco to convince them to accommodate their future aspirations?
Threats, intimidation and blackmail are all possible incentives, but no one has actually put a case forward which would compensate the investment made by the shareholders who, let’s remember, own all club assets.
An enormous assumption appears to have been made that hedge funds and various Easdales will capitulate and simply walk away and sign their paid-for assets over to a group who are regularly abusive towards them. It’s like 2012 all over again, when parts of the world assumed HMRC would capitulate and agree to a CVA for Oldco, despite all genuine evidence (i.e. published policy) indicating otherwise.
Game Theorists would have a ball with this scenario. Shareholders are being offered a choice, hand over your assets to a hostile opponent or attempt to continue with a vastly reduced business. The former option should not be taken seriously.
Question is, where does this particular game end? It’ll not be in an outcome satisfactory to many of those dreaming of ‘competing with Celtic’ anytime soon.
This mind-set should be familiar. It’s the same one which blamed Celtic, or small-minded small clubs, the SPL and/or SFA, blamed anyone, in fact, apart from those who endorsed years of overspend at Rangers, for their eventual demise.
Walking headlong into unsustainable debt is no different than walking headlong into a conflict with hedge funds who would sell your valued acre for landfill rather than be held to ransom.
I’ll renew my season tickets tonight (still annoyed I didn’t do so in time for the free ticket draw). Whatever happens in the wider scheme of Scottish football, one club will be supported ‘through and through’.
Yogi Bare – The John Hughes autobiography:
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I have just read the review from the Rangers completed by Mr.Wallace let me start by saying I am no financial wizard but the review in my opinion is very short on detail.It does not go in depth on the mis-management at the club and as for the future it is a wish list without any detail on how it is likely to be achieved.In my view it appears that this is either not the full unabridged version of the review or Mr.Wallace is going to be very well paid for something that could have been written by most posters on CQN. H.H.
Vmhan
and there’s me thinking that you thought I was Greenock’s finest. My mother was down at Easter and was talking about your dad and how they were both brought up in Chalmers St.
Happy birthday GL2
Sanna
Share price still falling. 23.5 now. All-time low. (well, 2 year low!)
HH
Me they have 3 options
1.Sale & leaseback
2. cut to the bone and be bottom 6, maybe squeeze into top 6 now and again (unacceptable to ANY deluded I know)
3. Liquidation start again under the King banner with no history playing out of ,well Ive not worked that on out yet.
but “3rd people” is the one for me,
Have a great day all
I intend to
A Smile and a wee knowing nod to them is what they hate most.
JFH
Aye
and written during a lunchtime break
FFin’ reaction:
“Pig sick…..and before the inevitable flurry of ‘statements’ begins I already have…… ‘statementitis’.”
——
“That f***ing idiot should be resigning with immediate effect if it took him 120 days to come up with that white and he had to call in Nash to assist him. That review of a business the size of Rangers should have been done and dusted in 10 days max.”
——
“Am I reading this right? The cost of purchasing the club £5.5m came out of the monies raised from the IPO?”
——
“That took a 1/3 of a year? Really?”
——
“Summary – a big boy done it and ran away.”
“Except that the ‘big boy’ has not ran away.”
——
“So basically we are spending money we cant afford on and off the park.”
——
“Can someone tell me why the £5.5 million to buy the club is listed as an expenditure?
So the club paid for it’s own purchase???”
——
“So … we spent more on TERMINATING some players’ contracts than we did on bringing players in. ?”
——
“The Club has been raped.
I am actually vomiting”
——
“so we all have to walk up with our 300 to 600 to pay for our season ticket in cash!!!!!!!!!!
Is this an April 1st joke?”
——
“Shambles.
To take 128 days to come up with the that pile of s**t is an afront to every Rangers supporter across the globe.”
——
“Admin is now inevitable and WILL happen”
——
“I don’t really see how we can avoid going out of business.”
——
“[The Glib and Shameless Liar’s] response must be action,I’m done with his words!”
——
“Absolutely. The time for ‘statements’ has passed. As Churchill said, ‘Action this day.’ “
If only Imran Ahmad had cited Visa or Mastercard as witnesses at his recent court case, he would have managed to get his dough ring-fenced!
Another Masonic judge perchance?
HH
No credit or debit cards can be used to buy STs? Oh dear!
They better hope that HM the Queen doesn’t refuse to pay the BEARer on demand.
Ohhhh lastly I wonder how much of that £2:3 million Fran Sandaza got when he was “sacked for breach of contract “
Very apt today. My heart always swells with pride whenever I hear this!! HAIL HAIL
http://www.youtube.com/watch?v=SaAoFHymJVg
Ernie Lynch – please just give your hatred for the SNP a rest for one day and let us all enjoy the shenanigans at Ibrox instead.
Guys – are we sure this is the full review? To me it looks like an Executive Summary.
leftclicktic:
I would not recommend “After the Reich”. It is a long, laborious… read. If that is a subject of interest to you I’m sure I have a couple of books (electronically) that I could send you. I’ll check and let you know. (I’m sure I have ‘A Terrible Revenge’ by Alfred-Maurice de Zayas which covers the same subject matter but is much more readable)
Two books that I think would interest you linked to that subject are “The Minister and the Massacres” by Nikoli Tolstoy and the book covering the subsequent Libel case “The Cost of a Reputation by Ian Mitchell. I’m sure those two would be interesting to you. (I also have another controversial book on this same subject that I could send you)
I rate my books by the number of page markers I stick into them, After the Reich, which is a long book only has two markers which to me means there are only two pages in the book that I would want to refer back to and therefore it didn’t amount to much. Some of my books have more than thirty page markers.
Did sumdae shout more???
http://www.youtube.com/watch?v=SaAoFHymJVg
Cadizzy
They’ve named a street after George??
GL2 , a very hoppy birthday to ye . Hope you’re enjoying the holiday and the well timed news that’s been arranged as a special birthday treat for you .
50 ? That paper-round must have been up and up the hills in greenock .
Sanna
macjay:
I apologise for wasting your time by telling you about that ABC documentary, what a complete waste of time.
I have a paper somewhere, written by a professor of history at Melbourne University which really puts a few noses out of joint, if I can find it I’ll send you a copy. It really does tear the myths apart.
Phyllis Dietrichson
The download from LSE is 6 pages, which is ~20days per page:)
Nice work if you can get it:)
HH
new article posted.
Kit , i just use page markers to note where i had read to – surely only 2 bookmarks mean it was an ‘un-put-downable’ read ?!
No ?
Sanna (justpullingyourchain csc)
Wouldn’t mind a couple of recommendations on the subject myself . You’ve got my addy .
Salted popcorn, The remedy seems to be to spend more money, create new posts, renovate the stadium, get new players, open new departments. By doing this, the club will be able to challenge for major honours and in three years time will be picking up major money in European competition.
Anyone spot the flaw in this plan?
Beatbhoy
That is indeed what I told him. It feeds his delusional vanity.
I feel sorry for them…..and them I remember that Sunday in Motherwell bye bye
neilbhoy
12:19 on 25 April, 2014
‘Ernie Lynch – please just give your hatred for the SNP a rest for one day and let us all enjoy the shenanigans at Ibrox instead.’
###
I’m only responding to stuff posted by nats. I’m not initiating any of it.
Why don’t you address your comment to those nats who constantly introduce their political hobby horse on here?
Would that not be more appropriate?
kitalba
12:23 on
25 April, 2014
Kit
I have recorded the program and will watch it later.Like you,I have a jaundiced view of history programs and look out for political bias which can often be detected.
There never seems to be a mention of British,French or Indian forces involved at Gallipoli.
Only Anzacs.
There are similar, though mostly voluntary, insurance schemes run by the major debit card providers to offer protection to consumers who don’t receive the goods or services they thought they were buying.
Chargeback is one of these schemes.
cv
Sannabhoy and 2000 kids say Hail Hail to Pablo’s family
12.07
Dipping in and out of the blog today.
Ordinary Shares allotted on that basis wouldn’t be sold at 1p but at a price negotiated by the funding shareholder and the Board.
For example, were all 43,400,000 sold at 31p, which won’t happen, then £434,000 would go to share capital account, £13,020,000 to share premium account and the total less costs would find its way to the bank, or not.
Purchasers would be increasing their ownership in the company at the detriment to other shareholders and there are limits on the number sold to individuals.
iki
12:05 on 25 April, 2014
Earnie
Why are the yes campaigners on here so anxious to distance themselves from the SNP?
:::::::::::::::::::
Why do the NO campaigners studiously avoid mentioning that this is the policy of the Communist Party of Great Britain ?
See what I did there?
CQN Saturday Naps Competition : Week 36/19th April results & standings
El Madrigal (Carlito Brigante @9/4) was the solitary winner last week.
+£16.60 PF Ayr (11)
+£15.88 Rockon Neil Lennon (9)
+£15.38 BMCUWP (7)
+£ 9.50 valentinesday (8)
+£ 4.00 leftclicktic (7)
+£ 3.50 tommytwiststommyturns (3)
-£ 0.50 Bada Bing (5)
-£ 2.13 Som mes que un club (5)
-£ 8.50 Cathal (4)
-£ 9.25 green T (6)
-£10.00 What is the Stars (3)
-£11.75 El Madrigal (4)
-£12.00 BULL67 (4)
-£12.00 fleagle1888 (4)
-£15.70 unionbearBhind (3)
-£17.75 16 roads (3)
-£18.75 Kilbowie Kelt (4)
-£22.50 twists n turns (2)
-£23.70 Sponsored by Cheetah (3)
-£23.80 voguepunter (2)
-£26.25 Che (2)
-£28.75 MHARK67 (2)
-£30.94 Burgas Hoops (2)
*No selections (wk 36) : Burgas Hoops, Che, twists n turns, What is the Stars.
Cheers, fleagle1888
Lads,
CQN Saturday naps on here please… and no laughing at the back !
:o)
fleagle1888
If you know the history.
100 years ago today Celtic played their second league match in 24 hours!
Napoleon saves a point & Fanny drops a dangerous cargo in Ulster 1914-04-25: Celtic 1-1 Partick Thistle Celtic
http://www.thecelticwiki.com/page/1914-04-25%3A+Celtic+1-1+Partick+Thistle%2C+League+Division+1
Morning,all.
Today’s attempt at some holiday money is
Ardkilly Witness 350 Sandown
Best of luck to everyone.
Morning Lhads
Ingleby Angel 3.25 Haydock.
Good luck ye all,cheers fleags.
Haydock 220 Set the Trend
Good luck everyone
Same Difference 3.50 Sandown.
Good luck everyone.
Spring Heeled 3:50 Sandown…..good luck.
Greetings from Essex County.
15:15 @ Sandown – Spring Heeled – NAP!
Good luck everybody.
Morning gents
Burton Port …..15-50 Sandown …..trying to get my national stake back ( although it was well covered following BMCUWP ) ….
Also like Cosseted 20-05 Donny
Burton Port …NAP!!