Director John Bennett - now in for £23million

[mdingwall]

 

[Snoopproddiedogg]

Hopefully with cashflow being so good we won't need to utilise the £10m overdraft facility but it's a great offer from Mr Bennett.

 

[The Spaniard]

Didn’t realise he was worth as much.

 

[mdingwall]

Hopefully with cashflow being so good we won't need to utilise the £10m overdraft facility but it's a great offer from Mr Bennett.

Cashflow last year was tight.

 

[mdingwall]

Didn’t realise he was worth as much.

Knightswood boy.

 

[Snoopproddiedogg]

Cashflow last year was tight.

Yeah I think it was identified that we would needed £7m before we were classed a going concern last year but I don't think we have the same issue this year. Obviously unforeseen costs can come up.

 

[The Spaniard]

Knightswood boy.

David Gold type figure then.

 

[boracay ranger]

Cashflow last year was tight.

The overdraft is mainly to cover seasonal requirements as explained by JB.
The club would expect to have sufficient cash between June and February but March to May is the period when the overdraft is required.

 

[Maida Vale Bear]

I think it's an amazing personal commitment from him and we need to start being a little more appreciative of these guys.

 

[JMCK]

I think it's an amazing personal commitment from him and we need to start being a little more appreciative of these guys.

Many people are greatly appreciative though; probably most fans realise that this board has been good for Rangers.

 

[Lord Summerisle]

We’re lucky to have him on board.

 

[Mount_Bear]

I think it's an amazing personal commitment from him and we need to start being a little more appreciative of these guys.

Absolutely fucking mental that people are foaming at the mouth to get rid of them

 

[mdingwall]

David Gold type figure then.

Not sure that many people have memories of John coming into the playground with a letter from Rangers saying he had been placed on a list to become a ballboy.

 

[ItsInTheNet]

It's becoming increasingly apparent how fortunate we are to have a board who love the club so much as witnessed by their commitment and investment.

 

[Sweet_Home_Alabama]

I think it's an amazing personal commitment from him and we need to start being a little more appreciative of these guys.

Yes. He was very patient answering question C1872 about repayments of his loans. I mean, how dare Mr Bennett have his loans paid back. If I didn't think much of C1872 before, I think less of them now.

 

[The Gooner]

6% return is pretty good for him though isn’t it.

 

[Dj12872]

n

Knightswood boy.

no quite the principality of Drumchapel

 

[Snoopproddiedogg]

Yes. He was very patient answering question C1872 about repayments of his loans. I mean, how dare Mr Bennett have his loans paid back. If I didn't think much of C1872 before, I think less of them now.

I really like Mr Bennett and he has definitely put up with the funds when needed but he didnt really answer that question.

 

[mdingwall]

n

no quite the principality of Drumchapel

Cease your vulgarity.

 

[Blue As]

I thought he spoke really well yesterday.

 

[The People]

Now that's what you can call commitment
The man is putting his money where his mouth is and we are lucky to have him.

 

[mdingwall]

6% return is pretty good for him though isn’t it.

Other lenders are available. Try getting one for millions to a football club.

 

[AC_55]

Bennett deserves more credit than he gets imo.

 

[Dj12872]

Cease your vulgarity.

 

[OranjeBear]

6% return is pretty good for him though isn’t it.

It's okay, a man of his ability could attain a significantly better return elsewhere though if he wanted to.

 

[mdingwall]

 

[The Gooner]

Other lenders are available. Try getting one for millions to a football club.

I’ll take your word for it John.

 

[Roscoblue]

Bennett deserves more credit than he gets imo.

You’re correct. They all do.

 

[Dj12872]

the lords of glasgow lived in lower bearsden

 

[Johnny Yen]

What’s his business background? Not questioning, just interested.

 

[Craig Skinner]

Bennett deserves more credit than he gets imo.

Each time I hear him talk, in comparison to others, I feel his role should be right at the very top of our board.

 

[Blue Goose]

I’ll take your word for it John.

Can you get a better price? I don't think that people genuinely realise how much the board have put in to the club. He's more than entitled to a return like that.

 

[Captain_Buns]

Hopefully with cashflow being so good we won't need to utilise the £10m overdraft facility but it's a great offer from Mr Bennett.

Is cash flow so good though? Bennett mentioned yesterday that February onwards was a fallow period for the club & was expecting some draw down.

 

[Snoopproddiedogg]

Is cash flow so good though? Bennett mentioned yesterday that February onwards was a fallow period for the club & was expecting some draw down.

It did appear good especially when it was stated yesterday we have £13m in cash but there are two projects,EH and BSP, which probably will make a dent into that I suspect. I reckon we probably will ask Mr Bennett to cover some costs near the end of the season but fingers crossed it's nowhere near the full amount.

 

[Sweet_Home_Alabama]

It's okay, a man of his ability could attain a significantly better return elsewhere though if he wanted to.

Absolutely. And Rangers would be lucky to be paying double that commercially, even if they could find a lender willing to lend. Most fans are financial illiterates with only a simplistic view of things. DoF noted yesterday that previous "material uncertainty" para had been removed from audit report...first time in,what, 10 years. Commercial lenders don't want to know without clean audit report. About time people realised that the board have heavily invested to take up slack.

 

[Reynold]

6% return is pretty good for him though isn’t it.

Aye, you're right. He should pump all his money in without return. Downsize his house and give us the savings too.

 

[Baloo72]

Penny pinching

 

[dougieb]

6% return is pretty good for him though isn’t it.

you want to replace his loan and at same time take nothing for it?

 

[Killer Bob]

It's an exceptional commitment. People who want this entire board gone should be aware of what that would entail.

 

[TCWNS1872]

John’s a banker is he not?

I wonder how liquid he is or whether it’s a case of preferential lending rates?

Regardless, at least his heart is in the right place but let’s not kid ourselves that John is some kind of philanthropist.

 

[Kentbear]

Aye, you're right. He should pump all his money in without return. Downsize his house and give us the savings too.

Now your talking.

 

[Big Negri]

It's an exceptional commitment. People who want this entire board gone should be aware of what that would entail.

I think the issue most have is Park is Chairman.
Bennett should be the Chairman.

 

[Arlo]

Money for another unnecessary legal battle perhaps?

 

[mdingwall]

John’s a banker is he not?

I wonder how liquid he is or whether it’s a case of preferential lending rates?

Regardless, at least his heart is in the right place but let’s not kid ourselves that John is some kind of philanthropist.

Fund manager.

 

[blue genes]

Other lenders are available. Try getting one for millions to a football club.

Amazing commitment from JB.

I realise most clubs borrow, so am in no way criticizing, but I do wonder, will we ever be "debt free"? ie not paying back loans of some description, or borrowing somewhere along the way?

I'm beginning to doubt it.

 

[jackstar]

It's an exceptional commitment. People who want this entire board gone should be aware of what that would entail.

They do have their faults,but you can't question their commitment.

 

[Cowan_rfc]

6% return is pretty good for him though isn’t it.

600k if we use it all on the 10million, hed get a lot more than that over the timescale elsewhere.

People need perspective on who they want on the board. Or rather not on it

 

[wee_bear]

Think John Bennett deserved the criticism that came off the back of the RTV interview a few months ago. That has borne out as we’ve had to replace the manager within a couple of months of everything being rosey on the playing side.

He and the rest of the board deserve huge credit for their continued time and money invested in the club and we are lucky to have these Rangers men involved.

Wilson, I fear is their next blind spot though.

 

[TCWNS1872]

Fund manager.

I stand corrected, although I was led to believe that he started off in banking?

Is his investment in Rangers his fund or is he managing on someone else’s behalf?

 

[Pollokbear]

I think the issue most have is Park is Chairman.
Bennett should be the Chairman.

That's not that bad an idea.
Park is pretty poor when it comes to public speaking. Bennett is far better in that respect although there are a lot of aspects of board > fan communications/relationship that need improving.

Bennett, would probably provide a better figurehead in that respect.
Kind of off topic but what exactly is Graeme Park's role or even purpose - is he purely there because his old man is the chairman?