Here’s the question: Potential investors offer to underwrite £6.5m worth of shares, around 30% of the club’s equity, at circa 16p per share, and require 2 seats on the board, what do you do?
Money is welcome, but the existing shareholders may consider this particular offer poor value. The first £3m will go to repay Mike Ashley’s loan, acquired on easy terms and due payable in April, leaving you with a net inflow of £3.5m. But you’ve flogged 30% of the club to get it.
There’s also the small matter that a net improvement of £3.5m is not enough to save the farm, in fact, it will only keep the doors open for another five weeks. Five weeks, for 30% of the company. Is this in the best interests of the shareholders?
If you’re advocating the position of the fans, you’d take the money. You don’t care how much of the club is given away, or that you’re only kicking the ball down the street 5 weeks. In fact, you want ever-more of the club to be traded in this exchange, as you don’t trust the current controlling shareholders. The shareholders will see things differently.
Throughout this episode an arrogant attitude has existed towards those who put their hands in their pockets in 2012, or since, and funded Rangers International FC PLC. I’m not saying I’d be any different if it was my club, just observing that any attempt to present a solution to the club’s gargantuan problems without recognising – and suitably compensating – the controlling shareholders, will fail.
Ashley can allow his £3m loan to rollover in support of an alternative offer, perhaps from an anonymous offshore entity, respecting the value the shareholders paid when their club needed help most.
I know it’s counter-culture for these types, but why not just offer to buy-out the shareholders at a high-enough rate that they’ll accept? Like Fergus did back in ’94. None of these guys are there for the seat in the gazebo, it’s about cash – if you want the club, don’t try to shame them into handing it over, pay them!
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Bontybhoy , you are certainly reading way too much into my comments which were, for me a straightforward statement about Lubo, kris did not come into my thinking. I repeat a footballing genius,still not sure where he would have come into RD’s thinking.
HH
I love listening to Dee-ell and Wishart when the Huns are getting pumped, now up an octave and in full blown panic mode.
“Jason Cummings turned into Ian Black”……poor lad.
Ole Bobby Madden will need to come up trumps here.
distress signalsCsc
What are the chances of a no show from sevco on the 1st February and taking the 3-0 loss ??????
Some rubbish club getting pumped 2-0 after 15 mins on Fox in US. is there room in the garden for Kenny ?
Hunskleper.
Was thinking that myself, then I thought they’d never have played 13 games in 2 short yrs at easter Rd
BRTH, hearing your not dpfeeling very well.
Good:-)
Another Roaster!
It will be Kenny and Ally the flowerpot men…
A put down really looses any impetus when there is a spelling mistake, it really does.
I got a wave from Big Chuck Mulgrew coming out of Bhoystown this morning, so now he’s a great guy, that’s official. Just waiting for my daughter returning, then off to the game.
Go on you Celts.
Bobby Madman is gonna have to have the game of his life to turn this round for The Mankies….will check the sky for a ‘copter with Son of Hugh being flown in.
Maybe ole Donald Park could park a bus for them…around the 18 yard box
Black, dirty wee Hun bassa booked.
He is a corrible wee hunt
Don’t sack McDowall, kenny mcdowall…….
Good article Paul, and fine follow up BRTH.
Big Mike driving the bus and in control.
HH Dan
The sevco-hibs thread on sevcomedia is a blast at the moment hahaha wishing horrific injuries on there own players tut tut hehe
Hibs playing some tidy but not special stuff. Rangers utterly flummoxed by any movement beyond beyond the ball by Hibs midfielders.
Wishart talking about rumours and speculation on players leaving Ibrox on Daturday.
That’s what you call a responsible trade union official.
I hope you feel better soon.
If we can’t beat this mob by double figures we need to chuck it lol
Right, that’s me heading off to Paradise.
Looking forward to meeting the usual suspects at the corner and perhaps a few new faces too.
Has Kenny McTrowell gone mad wi’ the weed killer:))))
Durie coming on..
Gordan durie hahahahahahaha
*Daturday should be “in January”
A wee taster from RM. I’ve replaced one particular word as this is a family forum.
Fluff off mcdowell you should have knocked back the job if you know you weren’t up for it
Have we even been in the hibs box yet?
Lowest for a long time
We are finished
McCoist has totally ruined rangers as a football team
That’s your legacy you fat fluff.
Bontybhoy
So you’re ‘looking forward’ to the departure of Kris Commons? Amazing how nearly everyone on this site accepts the lazy narrative that Commons is too slow, old etc. He wasn’t exactly burning up the turf when he won player of the year, yet most folk buy into the idea that he’s become rubbish over the summer break.
Meanwhile, Bolton fans are rubbing their hands with glee. And no, we wouldn’t beat Bolton.
BRTH
Need we say anymore
Right it’s Hooops time, see ye all later, where’s they painkillers :-)( for me putting up with Doc)
Hail Hail
They should use Kenny millers pace more hahaha
Rangers haven’t a clue on and off the field, it’s great to watch!
Do these Sevco players no realise that you don’t actually have to play the games to lose 15 points for administration??
Sky need to get a grip and give the viewers a warning before zooming in on the revolting orcs. Weans are terrified. ..
Black going to be subbed before he’s sent off.
Bang goes Blacks red card bet
Black going off..
bookies beckons
Black about to be Ricksened :-)