A key piece of the jigsaw has now been put in place. I suspect Dave and the Bears have spent more in loans than they first planned, and I am extremely grateful to every one of them for their commitment to our club.
We are the People!
The guy who wrote it tried his very best to put a negative slant on it by going down the board now can basically do what they want , this is no different from many companies round the world.
£0 supposedly
As someone who has zero education or background in business, I want to ask a genuine question. The Club has recently been funded by loans on the condition it would be converted to equity which it now has leaving the Club debt free, but what happens going forward? We are still incurring losses on a yearly basis, will any further loans from our benefactors have to be repaid as I’m assuming we can’t just keep diluting the shareholding.
I'm sure they are saying rangers man at startAt work just now but when I get home I'll be standing bollock naked in my living room screaming the intro bit.
On the official Rangers site it still has tbe old numbers and percentages but I'm sure this will be updated shortly.Can someone show the percentages of ownership?
I am very thankful and supportive to the current regime but I do like the fans holding 25%.
At work just now but when I get home I'll be standing bollock naked in my living room screaming the intro bit.
It wasn’t an EGM was it?
I thought it was 0, could be wrongAfter this how much “debt” is there?
Would be good to know but can’t be far off, if not.There's a good chance they've spent the £30m they initially quoted.
From the share issue document and other publically available information, I calculate DK and T3B have invested c£25m but if you add in Barry Scott, John Bennett and Julian Wolhardt it rises to £33m.There's a good chance they've spent the £30m they initially quoted.
That’s even better, if they have achieved their goal, turning the loans into shares and being the main shareholders, without exceeding their original budget plans ( Dave & T3B), that’s exceptional!From the share issue document and other publically available information, I calculate DK and T3B have invested c£25m but if you add in Barry Scott, John Bennett and Julian Wolhardt it rises to £33m.
The guy who wrote it tried his very best to put a negative slant on it by going down the board now can basically do what they want , this is no different from many companies round the world.
You notice that none of these same media cnuts (that I've read/heard yet anyway) can actually bring themselves to mention the truth either, that we are in fact 'debt free' after you so rightly pointed out how they've been deliberately maliciously misinterpreted the situation for so long. Hypocricy in action. How many journalists do you think will now praise King and the three bears and acknowledge the job he's done saving and rebuilding the club? Yeah, your guess will be very close to mine, virtually none in the whole country. No doubt instead the negative spin will commence. Bait box Scottish media is what they are. Full of filthy maggots and worms squirming all over each other. For starters, we await Jackson'sThe scum and their mhedia place-men have been whittering on about our “debt” for ages. Suggesting we’d learned nothing from our over spending days of old (a definition which I don’t accept at all) and we’re piling up new debts unsustainably.
King and co repeatedly reminded all of them that this “debt” was in fact soft loans that would be converted to shares after a GM vote allowed it. That’s now happened. So, £14m of “debt” now gone. STFU Timmy mhedia. LOL.
Anyway, we’ll still no doubt have some small operational credit facilities ongoing that all clubs run, which no doubt mentally challenged accountant fan type (or season ticket holder as they're known) will pounce on to claim King is lying about being “debt free”, but broadly that is now the case.
Are we now debt free?
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Here here.It doesn't even bear thinking about where our club would be without the intervention of King and others.
We had our assets secured to Ashley loans which we were never going to be in a position to pay back. Make no mistake we were in a one way journey straight towards the rocks and there would have been a fast tracked prepacked administration with Ashley gaining everything worth having. Look how difficult it has been to try and get our merchandise back never mind if he got his filthy hands on everything else.
Its absolutely brilliant to be reading opinions of our fans about forthcoming signings as opposed to off the pitch shenanigans.
Theres not enough for me which can be put in writing to show gratitude for what King and the rest have done. I'm just delighted the good guys managed to get themselves into the boardroom and ousted the spivs in the process.
and PRWe just need to sort out our retail and marketing now.
It doesn't even bear thinking about where our club would be without the intervention of King and others.
We had our assets secured to Ashley loans which we were never going to be in a position to pay back. Make no mistake we were in a one way journey straight towards the rocks and there would have been a fast tracked prepacked administration with Ashley gaining everything worth having. Look how difficult it has been to try and get our merchandise back never mind if he got his filthy hands on everything else.
Its absolutely brilliant to be reading opinions of our fans about forthcoming signings as opposed to off the pitch shenanigans.
Theres not enough for me which can be put in writing to show gratitude for what King and the rest have done. I'm just delighted the good guys managed to get themselves into the boardroom and ousted the spivs in the process.
£0 supposedly
I'm sure they are saying rangers man at start
This is the vital point for me. When King first came in he basically said he'd rebuild the club and tide it over until European football gave us a stable income. Since then it's become clear that, unless we get a real coefficient boost, actually making it into the group stages of the Euros is no easy task, and certainly isn't something we can bank on every year. The reality is we have to view European cash as a bonus and not build our finances around it.As someone who has zero education or background in business, I want to ask a genuine question. The Club has recently been funded by loans on the condition it would be converted to equity which it now has leaving the Club debt free, but what happens going forward? We are still incurring losses on a yearly basis, will any further loans from our benefactors have to be repaid as I’m assuming we can’t just keep diluting the shareholding.