Dave King on EGM result

We can have further share issues offering current shareholders the opportunity to maintain their shareholding. By achieving European football the reliance on soft loans will be significantly reduced. With improvements on the football side we are also likely to start seeing player trading as a method of funding the club.

On a side note, had an interesting conversation with someone connected to Douglas Park last week. He explained that no matter what Douglas Park gets involved in, he has to come out on top. He’s a ruthless winner who, when he sets his mind to it, won’t stop until he has got what he wants. What he wants is to return Rangers to being the top club in Scotland along with other like minded individuals. The desire of those in charge to restore our club to where it belongs is as strong as it could ever be. Park is apparently very much a driving force (excuse the pun) behind where we are and where we are going.
That's why i go to him for my cars, my little way of giving something back :)
 
At least that’s one saga now over.

Delighted with this finally being resolved and the so called “debt” that never was “debt” issue finally being put to bed.

a bit optimistic I think. It still won't stop our enemies either fans of other clubs or the media in claiming financial doping or we have hidden debts or this is proof of unsustainable spending etc. The first is obviously laughable considering Aberdeen. Hearts. Dundee utd, Motherwell etc have all had debt totally written off by major shareholders or converted into shares like yesterday.
 
I will personally be eternally grateful to Dave King, and the 3 bears, everybody else who helped, to slowly bring us back to where we should be. My only disappointed is the fact that my wee mate isn't here to see it. He bleed Rangers blue blood. They took him to early,when we were at our lowest. The pack's of hyenas trying to eat at our carcass. But we have managed to get on our feet again and are hunting all the scum bags down. Long live Dave King
 
All this business talk makes ma heid nip,but I would just like to say thank Christ for the business savvy men we have looking after our great club.
 
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.

At some point King is going to drastically reduce how much he's putting in. Hopefully the combination of season ticket money, kit and sponsorship deals, advertising, merchandise sales, "small" investments (like the semi-regular fundraising of Club 1872) and player sale profits all combine to make the club fully and continuously viable. Becoming self-sustainable must be the number one priority. I wouldn't survive a repeat of 2012.

You're quite right.

We can't structure our finances relying on European football. It's basically what the scum are doing right now, and is the very thing King believes could collapse their wee diddy club house of cards.

Any healthy club has multiple streams of income. STs are obviously vital. Players development and sales, TV money, prize money, advertising, corporate hospitality, other stadium revenues from office space and restaurants and the like, merchandising and also European football.

When King came in, almost all of that was broken. Our squad was borderline worthless, if truth be told. The stadium was crumbling, the merchandising, ST and match day revenues had collapsed due to the fan boycotts of all three, prize money was non existent, TV revenues had collapsed due to our being booted out of football and the SPL and SFL merger and stitch up, and advertising was being given gratis to fatty with tacky SD shite all over our stadium, and we actually had a spiv board ripping money out, not putting it in. In short, it was an absolute mess and we were headed for the shitter. I'm serious. We wouldn't have survived.

Now, the playing squad has huge real value, the corporate hospitality and advertising is booming, attendances are absolutely bursting at the seams, STs snapped up, stadium refurbishment well along the way, TV revenues up, prize money up and on top of that, we have had a huge boost from unexpected European success.

There is simply no comparison with our spiv finances and the way we are now.

We won't set our stall to reply on European football revenues, I'm 100% sure of that.

Really, the only major item that still needs attention is getting fatty's sucking lips off our tits. He's a fucking parasite. Once he's gone, the finances of our club will be truly "normalised"
 
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's opinion vindictive piece with baited (pardon the pun) breath.
Only the title will put these non-entities back in their box mate, the denial (and hate) they have is incredible. This time next year we could be in for the most epic Summer since Souness breezed in - CL qualifiers to look forward to and the biggest Timmy meltdown since Rome burned to the ground. Can’t bloody wait.
 
You're quite right.

We can't structure our finances relying on European football. It's basically what the scum are doing right now, and is the very thing King believes could collapse their wee diddy club house of cards.

Any healthy club has multiple streams of income. STs are obviously vital. Players development and sales, TV money, prize money, advertising, corporate hospitality, other stadium revenues from office space and restaurants and the like, merchandising and also European football.

When King came in, almost all of that was broken. Our squad was borderline worthless, if truth be told. The stadium was crumbling, the merchandising, ST and match day revenues had collapsed due to the fan boycotts of all three, prize money was non existent, TV revenues had collapsed due to our being booted out of football and the SPL and SFL merger and stitch up, and advertising was being given gratis to fatty with tacky SD shite all over our stadium, and we actually had a spiv board ripping money out, not putting it in. In short, it was an absolute mess and we were headed for the shitter. I'm serious. We wouldn't have survived.

Now, the playing squad has huge real value, the corporate hospitality and advertising is booming, attendances are absolutely bursting at the seams, STs snapped up, stadium refurbishment well along the way, TV revenues up, prize money up and on top of that, we have had a huge boost from unexpected European success.

There is simply no comparison with our spiv finances and the way we are now.

We won't set our stall to reply on European football revenues, I'm 100% sure of that.

Really, the only major item that still needs attention is getting fatty's sucking lips off our tits. He's a fucking parasite. Once he's gone, the finances of our club will be truly "normalised"

Superb post, mate. :)
 
I’m waiting with baited breath for BBC Scotland’s Business/Economy editor Douglas Fraser to cover this, since he was all over last year’s figures like a rash. I’m sure he’ll display the fairness and balance that the BBC says it projects by hailing this as nothing but good news. Silence would indicate he has an agenda to only report on Rangers when he can give a story a negative slant, which surely couldn’t be possible?!?

Anyway, I think we all owe the Board a very large drink and a vote of thanks for all they’ve done to get us to this position in such a short time. When you consider the mess the spivs left it is almost miraculous to now be debt free and hopefully self-financing within the next couple of years.

We might not always agree with them on everything but there is absolutely no doubt that they are true Rangers men through and through and our club is now, finally, in very safe hands.
 
Whilst it is indeed good news that the shareholding is more in favour of Dave King and his team, I can’t help but be a bit jealous that none of us can buy a 36p share for 20p.
 
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.

At some point King is going to drastically reduce how much he's putting in. Hopefully the combination of season ticket money, kit and sponsorship deals, advertising, merchandise sales, "small" investments (like the semi-regular fundraising of Club 1872) and player sale profits all combine to make the club fully and continuously viable. Becoming self-sustainable must be the number one priority. I wouldn't survive a repeat of 2012.

The club is sustainable if we sell our Season tickets and don’t overspend on players.
 
I’m waiting with baited breath for BBC Scotland’s Business/Economy editor Douglas Fraser to cover this, since he was all over last year’s figures like a rash. I’m sure he’ll display the fairness and balance that the BBC says it projects by hailing this as nothing but good news. Silence would indicate he has an agenda to only report on Rangers when he can give a story a negative slant, which surely couldn’t be possible?!?

Anyway, I think we all owe the Board a very large drink and a vote of thanks for all they’ve done to get us to this position in such a short time. When you consider the mess the spivs left it is almost miraculous to now be debt free and hopefully self-financing within the next couple of years.

We might not always agree with them on everything but there is absolutely no doubt that they are true Rangers men through and through and our club is now, finally, in very safe hands.

He’s a ratbag full of his own importance.
 
The ability to buy the shares using existing loans has been there for some time. The new share issue and removal of pre-emption rights was voted for at the last AGM

This vote related to the waiver of the requirement to make an offer if the concert party went over 50%, which it will once this conversion takes place. Which I imagine will be in the very near future, if it hasn't already been done.

This vote was the shareholders agreeing to that waiver, without all the nonsense which happened at the 30% limit.

Dave King and the three bears will have pretty much total control at that time and will be able to pass any resolution without support from other shareholders. There should be enough friendly voters to achieve 75% if they want to pass a special resolution, but that is unlikely to be required now as no-one can get them below the 50% now anyway.

This is precisely what the Rangers' support have been hoping for.
 
Just to veer the thread ever so slightly, plus I'm sure T3B and King didn't get involved for message board back patting plaudits.
These 19% are they for the watching? What were their concerns? The dilution of existing shareholding I get but is that all!
Do we know/educate a guess who they were
 
Just to veer the thread ever so slightly, plus I'm sure T3B and King didn't get involved for message board back patting plaudits.
These 19% are they for the watching? What were their concerns? The dilution of existing shareholding I get but is that all!
Do we know/educate a guess who they were

Some people won't like the fact that this resolution allowed the conversion to take place without them being offered a buy out option.

They missed out at the 30% limit and have now missed out at the 50% limit.

They also won't like the fact that they have absolutely no say whatsoever. Every vote other than a special resolution is a foregone conclusion.
 
Just to veer the thread ever so slightly, plus I'm sure T3B and King didn't get involved for message board back patting plaudits.
These 19% are they for the watching? What were their concerns? The dilution of existing shareholding I get but is that all!
Do we know/educate a guess who they were
Can only think of the Easdales and other Bears in general who weren’t in favour of voting for the resolution for the exact reason you explained.
 
Does anyone also frequent Rangers Media? Curious to know what happened to the anti King pro Ashley brigade over time?
 
Does anyone also frequent Rangers Media? Curious to know what happened to the anti King pro Ashley brigade over time?
I have an account on RM but you can’t have a normal debate with the inhabitants of the site. There truly is some headbangers on there.
 
The club is sustainable if we sell our Season tickets and don’t overspend on players.

Not just the player fees but also the wages.
Anybody jump in and correct me if I’m wrong but I’m sure i read recently that our wages are 75% approx of turnover. The bheasts around 60%. IF this is correct then we need to get it down.
 
Not just the player fees but also the wages.
Anybody jump in and correct me if I’m wrong but I’m sure i read recently that our wages are 75% approx of turnover. The bheasts around 60%. IF this is correct then we need to get it down.
Theirs was 60% but they had CL money on them accounts ours was 75% with no retail and little European income that change on the next set for both them and us
 
Whilst it is indeed good news that the shareholding is more in favour of Dave King and his team, I can’t help but be a bit jealous that none of us can buy a 36p share for 20p.

I feel the same about our shareholding mate, I do.

But then again, I didn't lend the club millions in soft loans losing hundreds of thousands on earning potential. Wish I could have - then I would be asking for a life time membership of the Chairman's Lounge instead of shares. :)
 
I have an account on RM but you can’t have a normal debate with the inhabitants of the site. There truly is some headbangers on there.

It's always the same 5 or 6 guys relentlessly abusing/bullying people. Then they all high five each other by ramming their like dildo's up each others arses, rewarding the abuse whilst the useless admins turn a blind eye to it all. mentally challenged behaviour from that pro-Ashley anti-King toilet of a forum.
 
Tremendous news for the club. It can’t be good for Club1872 but given that those who have in the past given soft loans have the club’s best interests at heart it has to be considered a win win.
 
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