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.
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Ole Greenie’s been playin’ too much Fantasy Football on whatever games platform he rents.
RFC to be sponsored by Aer Lingus?
Stellar players to arrive shortly?
Stadium refurbishment?
All pie in the sky. Pigs in a poke.
And I repeat : “You can put lipstick on a pig. It’s still a pig.”
HH!
:-)
tomthelennytim on 11 June, 2012 at 11:21 said
Currently in transit, should be in the office and logged in around 1pm
HH
macjay1 for Neil Lennon
The England team represents the England Nation, pretty easy to see why people want them to get humped. :0)
Fin75 – Pimms is for ladies and country vicars.
Re: Cameron and his awesome parenting skills. I can’t help but feel that this would never have happened with Ed Miliband.
I just can’t imagine Ed getting served in a pub. (thumbsup)
greenjedi – Ashley Cole is a diehard fan of the Cavaliers, and all Vauxhall cars for that matter. (thumbsup)
ASonOfDan on 11 June, 2012 at 11:46
This. And they say things like ‘blimey’.
HH
Isn’t it strange how Sally hasn’t been thrown in front of the cameras + LL to preach Greens ‘vision’?
Go on Keech + Jabba. Give him a call and ask for a supportive quote
What’s that, you have and he refused to do so?
Now i wonder why that’s not made the papers eh?
Surely if Cheeko Green’s 19 targets all cost hee haw as free agents…then the additional £ 1.5m he has put into Comical Sally’s warchest is not required and SHOULD be added to the creditor’s pot…along with the other monies not required….like win bonuses & trophy success bonuses + all the EBT loans getting repaid, I’m sure Campbell Ogilvie will lead the way with his £ 95,000 & all those legends :)
junglejim – I haven’t had time to check back – in work – to see if you got an answer to your question. The BBC Scotland Football website had a list of all the SPL teams. With the exception of Huns and Dunfermline (?) beside each of the teams it stated that they were `under SFA inquiry’. Beside the huns it had something about signings.
Apologies if already answered but I was scunnered by the above and complained to the Beeb. We’ll say what they say, eh?
Art of War
The story was about the SFA carrying out the investigation and was generally assigned by BBC to each club page. As nothing else much was happenning this appeared as the top story for each club.
It did not say each of those clubs was being investigated.
Nothing more sinister than just a lack of news.
Mort
Vogue
Quite.. Just re- read my subliminal post.. Ha!
So let’s try one more time..
When are the spl fixtures published?
I have it on good authority that a few SPL chairman are agitating for an accelerated process to be put in place. Independent group to consider Hun crimes in total and recommend one punishment. Penny has dropped with SPL chairs that they have as much ( maybe more?) to lose with Huns still in SPL.
traditionalist88 – This. And they say things like ‘blimey’.
And “baggy trousers”.
And they tend to wear captain’s hats and chase scantily clad women around to jaunty saxophone music. (thumbsup)
Cults-18th of June rings a bell
Gordon_J backing Neil Lennon on 11 June, 2012 at 09:54 said:
The latest from the referendum campaign:
***********************************************************
Good article Gordon the SNP campaign is in tatters, they have not clarified if they would get direct membership to the EU without automatically agreeing to the Euro as a currency.
Personally I dont see any UK Government allowing an independent Scotland to stay in Sterling, I assume the UK Govt will withdraw this as an option the further we get into the campaign , why would they allow a new Govt with many un-costed spending plans no longer being subsidised from London they will mot get entry to Sterling .
Leaving the SNP to devise their own currency before the referendum, you allude to real position of the SNP leadership that of Devo Max, but this will lead to civil war in their Party.
Paul67
when CVA fails, does Green get the assets or does the liquidator get chance to raise money for creditors? At what point does players registrations revert to SFA?
CQN IMPORTANT ANNOUNCEMENT
Would all of our kind posters please refrain from mentioning the following;-
Ragers,Green,CVA’s, tax man and EBT’s, timbhoy2 due on shortly
and he disnae like it,I thank you.
Ragers
Green
CVA’s, tax man and EBT’s
EBT’s
paulsatim is neil lennon on 11 June, 2012 at 12:13 said:
On your own head be it :O)
WTF does that mean?
I’ll distract yeez………anyone got a recipe for sausages?
St.John.Doyle,
Thanks. I’ve mentioned before the dichotomy at the heart of the SNP – it’s really a single issue campaign that has had to become a political party. Salmond has managed this very well, to be fair, and his relative success has kept them together.But the old issue of gradualists v fundamentalists has never really gone away.
I’m sure Salmond would love a two question referendum with some sort of devo max (however that is actually defined) as the likely winner. But he cannot say that as it demonstrates a lack of belief in a Yes campaign victory.
I think that when the responses to the consultation are published the argument will be made that a large number want a two question solution so what are you going to do? Democracy, will of the Scottish people, etc, etc.
Vogue @ 12:10
How about Duff’n’Phelps, Hector, Craig Whyte, David Murray, RFFF, RTC, Zheng Zhi, and some others … ?
Do you think tb2 would take the hump at references to those, as well … ?
FF
St John Doyle
To look at it from another angle, would an Independant Scotland allow England, Wales & Northern Ireland to stay in Sterling?
Who says London gets to decide? The United Kingdom would no longer exist there would be to new countries deciding on their currency!
voguepunter on 11 June, 2012 at 12:15 said:
Hair?
Folly Folly on 11 June, 2012 at 12:17 said:
They’re ok.
Whew … !
greenjedi on 11 June, 2012 at 12:18 said:
To look at it from another angle, would an Independant Scotland allow England, Wales & Northern Ireland to stay in Sterling?
==================================
They’d need to get Dougie Donnelly’s permission for that!!
Cults-Fixtures out next Monday @ 9am.(unless leaked on CQN…)
26th of May
CHARLES GREEN claims he has struck a deal with the taxman to take over at Rangers – and in a separate move says he will meet Celtic chief Peter Lawwell on Monday.
Preferred bidder Green says he has reached informal agreement with HMRC over the partial repayment of Rangers’ debts through a Conditional Voluntary Agreement (CVA).
And in what will be seen as a highly significant move, he says he will meet Lawwell ahead of a summit of SPL clubs.
The SPL meeting on Wednesday will discuss what sanctions will be imposed on Rangers if Green fails to get his CVA agreed and the club have to be re-constituted into a new company.
Former Sheffield United chief executive Green said of the planned CVA: “HMRC have given us the nod but we need it in writing.”
10th of June
Green is asking the bares to speak to their politicians to get the CVA accepted by HMRC.
Green is a bigger laugh than Craigy Bhoy.
paulsatim is neil lennon on 11 June, 2012 at 12:18 said:
voguepunter on 11 June, 2012 at 12:15 said:
Hair?
watch what you’re saying ,a lot of ba…… a lot of follicly challenged fholk on here.
ASonOfDan on at 12:21
Have you got cheese ears, or are you at the wind up?
Did ye no’ see voguepunters 12:10 warning that we are to avoid references to Ragers, Green ,CVA’s, tax man and EBT’s … and you go an’ mention all 3 in a wanny …
FF
Spot the fatal flaw in this story…
rangers want to sign Bolton winger Martin Petrov. The Scottish club have a small window available to sign players on free transfers, with AC Milan’s Rene Gattuso another target.
But Rangers may struggle to fund wages above £20,000 per week and Petrov, 33, may hold out for better offers.
Gordon_J backing Neil Lennon on 11 June, 2012 at 12:17 said:
‘I think that when the responses to the consultation are published the argument will be made that a large number want a two question solution so what are you going to do? Democracy, will of the Scottish people, etc, etc.’
You go by what was in the manifesto.
That means a straight yes/no and nothing else. It’s all the SNP have a mandate for.
If the SNP then want to have a referendum on devo max they can put it in their manifesto for the next election.
Gordon_J
“I’m sure Salmond would love a two question referendum with some sort of devo max (however that is actually defined) as the likely winner.”
He would love Independence…..
“But he cannot say that as it demonstrates a lack of belief in a Yes campaign victory.”
He does not have to say it as that is not what he wants….
I think that when the responses to the consultation are published the argument will be made that a large number want a two question solution so what are you going to do? Democracy, will of the Scottish people, etc, etc.
You make the last bit out as though that would be his excuse, but surely that would be Democratic!…..por cierto
Folly Folly
What do I need ears for when reading the internet?
ernie lynch,
Oh I agree that’s what should happen. But I think that an attempt will be made to move the goalposts
OK: glass eyes, then …
;-)