Are financial considerations making us wait a while for a manager?

[Northampton_Loyalist]

The AGM has now been announced and after last season, we can almost say with certainty that res 11 will pass, as well as a res for a new share issue. Are we deliberately stalling knowing that a significant change in financials could be around the corner? ie, we could be in for a 1 off windfall, as well as exchanging debt for equity, added to the prospect of merchandise monies increasing. If that is correct, the right manager for 'right now' may not be the right manager for after the share issues. How long do they take to set up and complete? Might we be able to afford a higher calibre of candidate in the new year, and have the funds to spend on players that would be needed to attract them?

Obviously idle speculation on my part and I genuinely do not know the answer to my questions. Just something I am pondering on a boring Wednesday afternoon.

 

[MagneticFields]

Can we say the resolutions will pass?

I don't know a great deal about it, but it is a big assumption

 

[Northampton_Loyalist]

Can we say the resolutions will pass?

I don't know a great deal about it, but it is a big assumption

Well, Ashley voted against it, his shares alone are more than enough to swing it and they now reside with C1872, so it is as close to a certainty as you can get (IMO)

 

[Barrymoped]

Can we say the resolutions will pass?

I don't know a great deal about it, but it is a big assumption

It’s due to the fact Ashley’s shares are now gone so that’s a significant swing in the opposite direction, and when you consider last year it only just failed then I’d say it’s a fairly sure thing it will now pass.

However I don’t think it will have a major impact. Most of the cash raised will simply be used to convert money King and the other directors have already given us into more shares, it wipes our debt to them and probably pays for this years shortfalls as well but little else besides.

 

[Teddyjohn]

Well, Ashley voted against it, his shares alone are more than enough to swing it and they now reside with C1872, so it is as close to a certainty as you can get (IMO)

The board will be in for utter hell at the AGM if we still haven't a manager in place, especially if Murty drops points. This is the same board that made a complete and utter shambles over the last 2 appointments. To sack a manager and then wait until AFTER an AGM five weeks later before naming a replacement would be lunacy and certain board members would be at risk of being voted off. There is no way they are that stupid.

 

[Northampton_Loyalist]

It’s due to the fact Ashley’s shares are now gone so that’s a significant swing in the opposite direction, and when you consider last year it only just failed then I’d say it’s a fairly sure thing it will now pass.

However I don’t think it will have a major impact. Most of the cash raised will simply be used to convert money King and the other directors have already given us into more shares, it wipes our debt to them and probably pays for this years shortfalls as well but little else besides.

There were two resolutions, and by memory so I might be off the mark, res 11 was to clear the debt via debt for equity, with a second, open share issue to raise capital. If we did both, we would have a decent pot of cash over and above the debt, if it went well.

 

[Northampton_Loyalist]

The board will be in for utter hell at the AGM if we still haven't a manager in place, especially if Murty drops points. This is the same board that made a complete and utter shambles over the last 2 appointments. To sack a manager and then wait until AFTER an AGM five weeks later before naming a replacement would be lunacy and certain board members would be at risk of being voted off. There is no way they are that stupid.

If they were putting a prospectus together for the 2 share issues and were using it to tempt a manager with a promised pot for next summer, we would not be waiting until after the agm for a new manager.
Even announcing Murty until January would help I suppose, instead of the information vacuum.

 

[Haining84]

The board will be in for utter hell at the AGM if we still haven't a manager in place, especially if Murty drops points. This is the same board that made a complete and utter shambles over the last 2 appointments. To sack a manager and then wait until AFTER an AGM five weeks later before naming a replacement would be lunacy and certain board members would be at risk of being voted off. There is no way they are that stupid.

I think you're being very harsh mate regards the 2 appointments.Warburton didn't work out in the end but we could see and agree with the thinking behind it.Sometimes it works,sometimes it doesn't.I'll give you Caixinha though.That was a big blunder.

 

[Teddyjohn]

If they were putting a prospectus together for the 2 share issues and were using it to tempt a manager with a promised pot for next summer, we would not be waiting until after the agm for a new manager.
Even announcing Murty until January would help I suppose, instead of the information vacuum.

You'd be happy with having Murty in charge for the Sheep double header, Easter Road and the Piggery? Come on mate, the guy is doing a good job for now but he'll get chewed up and spat out by the media and the fans if we start to go on a bad run.

 

[Deleted member 3807]

No I don't think so. The AGM is coincidental here.
The time being taken is entirely due to the process and candidates I'd say. Interviews, commercials and final recommendations take time. Mark Allen is leading the process and I expect he wants it to stand up to scrutiny. If things don't work out for the new manager this time he'll want to be sure blame can't be apportioned to him. Although if Steve McClaren is the guy then try as he might he'll get crucified when it all goes south.

 

[The Salty Dog]

I would like to think something will happen this week regarding the managers position.

I can see the OP point but think we may be reading too much into it tbh.

 

[Northampton_Loyalist]

You'd be happy with having Murty in charge for the Sheep double header, Easter Road and the Piggery? Come on mate, the guy is doing a good job for now but he'll get chewed up and spat out by the media and the fans if we start to go on a bad run.

You are not thinking it through;

You are asking if I want Murty in charge when the correct question is 'would you accept Murty for a few months if it meant getting in a top coach with some decent financial backing, over taking a 'decent' coach today?'

 

[Northampton_Loyalist]

No I don't think so. The AGM is coincidental here.
The time being taken is entirely due to the process and candidates I'd say. Interviews, commercials and final recommendations take time. Mark Allen is leading the process and I expect he wants it to stand up to scrutiny. If things don't work out for the new manager this time he'll want to be sure blame can't be apportioned to him. Although if Steve McClaren is the guy then try as he might he'll get crucified when it all goes south.

I think you are probably right, but I would hope that the decision is at least partly based on us having a 1 off windfall that will 100% need to be spent correctly.

 

[EndOfDays]

If they were putting a prospectus together for the 2 share issues and were using it to tempt a manager with a promised pot for next summer, we would not be waiting until after the agm for a new manager.
Even announcing Murty until January would help I suppose, instead of the information vacuum.

Is the whole point of res 11 not to avoid the whole prospectus process?

 

[ABear]

It would be good to have a decision on our manager but there is a lot of due diligence to ensure we get the right guy

 

[Stuhercules]

The AGM has now been announced and after last season, we can almost say with certainty that res 11 will pass, as well as a res for a new share issue. Are we deliberately stalling knowing that a significant change in financials could be around the corner? ie, we could be in for a 1 off windfall, as well as exchanging debt for equity, added to the prospect of merchandise monies increasing. If that is correct, the right manager for 'right now' may not be the right manager for after the share issues. How long do they take to set up and complete? Might we be able to afford a higher calibre of candidate in the new year, and have the funds to spend on players that would be needed to attract them?

Obviously idle speculation on my part and I genuinely do not know the answer to my questions. Just something I am pondering on a boring Wednesday afternoon.

That is my thoughts too. I also fear paying managers i.e Warburton, Caixinha and prob the new manager the same wage (around £500k-£750) we are just going to get the same results. To attract a top manager we really do have to offer the wage of of top manager.

 

[Valley Bluenose]

I doubt very much there will be a significant 'windfall'.

The share issue will see our benefactors convert their loans to equity. That could be to the tune of £20m. I suspect any others share purchases will be limited. Perhaps a few million from fans and/or Club 1872 - at best. Who else? I don't think it will be, to twist a popular phrase, a 'team changing' event.

Before we get to any of that, of course, there is the dilemma Dave King finds himself in with the TAB ruling. We should hear a decision on that very soon I suspect - but we should not underestimate the significance and ongoing impact that decision may/will have on any future share issue.

 

[GK1872]

Only the passage of time will tell whether the board are dragging heels or wisely sourcing new manager, considering what is at stake I would rather we took time and got right appointment and more importantly regardless of who it is that it works long term.

 

[MarkWayneHateley]

There were two resolutions, and by memory so I might be off the mark, res 11 was to clear the debt via debt for equity, with a second, open share issue to raise capital. If we did both, we would have a decent pot of cash over and above the debt, if it went well.

When you think of where we were , this would be fantastic.

In fact even if it was only to give our investors the shares in exchange for the soft loans, it's still incredible to think we could be completely debt free with a new merchandising deal on the horizon . How many football clubs can say that?

 

[Graeme's dad]

I think that it is unlikely that financial considerations would be any factor in delaying the appointment of a new manager. King and the 3B's would just provide a further soft loan which would be offset by a new share issue at the AGM, so when you are owed close to 20m, what's another 750k!

My guess is that the DoF is doing a thorough job in analysing the various applicants and will whittle this down to his preferred candidate and will then take this to the board.

 

[Lord Summerisle]

Can the resolutions pass when the takeover panel thing with King remains unresolved?

 

[boracay ranger]

Can the resolutions pass when the takeover panel thing with King remains unresolved?

Yes, the current takeover panel ruling will only limit the amount of loans that can be converted by DK and T3B so that their shareholding does not increase above 34%

 

[two2tango]

We absolutely need the share issue.

Every rangers fan needs to dig deep

We need to raise 20m imo

This should be invested in younger players with resale value picked from specific scouting targets

We then get them ready for a title push next season

 

[Pablo Escobar]

We absolutely need the share issue.

Every rangers fan needs to dig deep

We need to raise 20m imo

This should be invested in younger players with resale value picked from specific scouting targets

We then get them ready for a title push next season

TBF i think we have done that

 

[Stuhercules]

We absolutely need the share issue.

Every rangers fan needs to dig deep

We need to raise 20m imo

This should be invested in younger players with resale value picked from specific scouting targets

We then get them ready for a title push next season

Hear Hear. If we have financial woes due to whatever reason be it pish tv money, no european football or even the recent merchandise deal then we should have used the only other obvious way of generating income by having players with a sell on value.

If you consider that approach and how we could have made money that way compared to the way we squandered money on the likes on Ian black`s wages then its enough to make you weep.

 

[Northampton_Loyalist]

Very nearly a 2 week old thread now. Any change of opinion? I am kind of hoping, as a last resort kinda thing, that we are just lining up everything to get a decent manager in and give him a decent pot to work with. Alternatives do not bear thinking about.

 

[Sir Walter]

TBF i think we have done that

With ST money, yes.

Think the fans have to start looking within though instead of expecting others to dig us out of a hole

C1872 only having around 9k members says it all about our support. The vast majority expect others to plough money in.

 

[Northampton_Loyalist]

Ibrox Noise now running an article asking the same question.

Genuinely think it is the only outcome from the manager wait that could be positive all around. If we are just dithering, it is fucking awful governance but if we really are trying to line up several ducks, it might be worth it.

 

[GodSaveTheQueen]

Yes, the current takeover panel ruling will only limit the amount of loans that can be converted by DK and T3B so that their shareholding does not increase above 34%

Limiting the amount of loans we can have by King etc at the moment would be catastrophic. We need this share issue.

 

[OneThreeOneTwo]

Can we say the resolutions will pass?

I don't know a great deal about it, but it is a big assumption

Troy The Gardiner will hopefully have remembered to either turn up or proxy unlike last time.

 

[Northampton_Loyalist]

My best guess;

McInnes is the preferred choice if no share issue is to go ahead.
A.N.Other is lined up/preferred for NEXT season if a share issue is to go ahead

We will have the AGM, the resolutions will pass, an interim manager (Eck?) will be announced if the new man is not immediately available. If new man is available, he will come in after the jan window and do a Pedro (assess the squad) for a few months, while the share issue is sorted and completed

If there is any reason a share issue cannot go ahead (King's court case?) McInnes will be offered the gig full time

Either way, we will not have a new permanent manager until into the new year, with Murty retaining control up until one of the above happens.

 

[Mview83]

Not sure the hold up is compo or capital to make the move. For me it’s the fact the board CANNOT make another mistake and pay their way out of it hence their apparent dithering.

Either that or they just don’t have a clue what to do.

 

[greigmiester]

Yes, the current takeover panel ruling will only limit the amount of loans that can be converted by DK and T3B so that their shareholding does not increase above 34%

If anything the most likely result of the King case, will be an instruction to either make a bid or if they believe the poverty line to sell shares to come under the 30% for the concert party (presumably from Kings holding)

 

[nybear]

Can we say the resolutions will pass?

I don't know a great deal about it, but it is a big assumption

only those that forgot to vote will vote against it, nothing will stop it being passed this year

 

[Superrangers]

The board will be in for utter hell at the AGM if we still haven't a manager in place, especially if Murty drops points. This is the same board that made a complete and utter shambles over the last 2 appointments. To sack a manager and then wait until AFTER an AGM five weeks later before naming a replacement would be lunacy and certain board members would be at risk of being voted off. There is no way they are that stupid.

Hmmm, let’s wait and see.

 

[Teddyjohn]

Hmmm, let’s wait and see.

Since posting that two weeks ago I’m actually now of the belief that we are in for a very underwhelming appointment (an unknown Caixinha-type or Eck) and that they will announce it the Monday after the AGM and second Aberdeen game. I think they’ve made a complete mess of this and they don’t want someone unimpressive sitting beside them at the AGM. If they had secured a top manager they would be shouting from the rooftops about it but the silence is very telling.

 

[Superrangers]

Since posting that I’m actually now of the belief that we are in for a very underwhelming appointment (an unknown Caixinha-type or Eck) and that they will announce it the Monday after the AGM and second Aberdeen game. I think they’ve made a complete mess of this and they don’t want someone unimpressive sitting beside them at the AGM. If they had secured a top manager they would be shouting from the rooftops about it but the silence is very telling.

Sadly I fear you will be right. The board will not deserve our support if they fail us on this one.