Dave King press conference this Monday

I won’t pretend I’m happy about what was announced today - I didn’t expect megabucks but I thought at the very least double figures from the share issue .

On the plus side , it nails straight away any fanciful nonsense about is signing the like of Fernando Torres , Mascherano or Skirtel . In a way it’s a relief as that’s not the road we need to go down .
 
MarkWayneHateley said:
I won’t pretend I’m happy about what was announced today - I didn’t expect megabucks but I thought at the very least double figures from the share issue .

On the plus side , it nails straight away any fanciful nonsense about is signing the like of Fernando Torres , Mascherano or Skirtel . In a way it’s a relief as that’s not the road we need to go down .
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Depending on how much of the loans are converted to equity it most likely will be in excess of double figures. Put it this way, if you expected ALL the loans converted to equity PLUS a double-digit figure left over then you were expecting the current/new investors to be committing somewhere above £27.7m. Not happening.

The way I see it, if the existing investors convert £8m of their loans to equity (reducing nominal 'debt' to circa £10m) and we still have enough for £6m in ADDITONAL (i.e. over and above what Caixinha got) funding for the transfer budget then we will have done reasonably well. Not that I'm saying that is what will happen but it will be along those lines I suspect.
 
Not overly worried at this juncture. But we will need to move on a few players and hopefully get some transfer fees for some. Stevie G will have good connections & I can see a few coming in on loan, but of much better quality than we have, & a couple of transfer signings that we will approve of
 
Valley Bluenose said:
Depending on how much of the loans are converted to equity it most likely will be in excess of double figures. Put it this way, if you expected ALL the loans converted to equity PLUS a double-digit figure left over then you were expecting the current/new investors to be committing somewhere above £27.7m. Not happening.

The way I see it, if the existing investors convert £8m of their loans to equity (reducing nominal 'debt' to circa £10m) and we still have enough for £6m in ADDITONAL (i.e. over and above what Caixinha got) funding for the transfer budget then we will have done reasonably well. Not that I'm saying that is what will happen but it will be along those lines I suspect.
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Is that just your take on it, or do you have something to suggest that it will be say £16m or thereabouts.
 
Greebo said:
Is that just your take on it, or do you have something to suggest that it will be say £16m or thereabouts.
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Its entirely my take on it mate, based on the comments by King reported on the BBC website and copied to my post #1163 above. Namely:

King says the share issue will mean loans are converted to equity as well as bringing in fresh finance.

"There will be a balance between the conversion of loans versus raising of new cash," he explained.

To me that makes it clear that some of the loans will be converted to equity - but not all of them because they want to make some funding available to Gerrard.

It's how I read it at least. I've simply suggested one of many ratios that could be applied. Far from ITK - thankfully!
 
Jaws II said:
If there isn’t we have no chance of catching the scum, Stevie G maybe a good manager,but he ain’t a miracle worker.
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We can’t say that for certainty yet, but I believe he will be.

SG wouldn’t be here if he wasn’t going to be given sufficient funds. Remember it wasn’t just us interviewing him, he was interviewing us. This is his first big managerial job and he’s not going to waste it on a lost cause. King has said numerous times his aim is to get us back on top. Stevie G must believe it possible or he wouldn’t have taken the job.
 
There’s a lot of disappointment because King’s comments confirm that all the rumours about fresh investment were either completely false or very premature.

I think it’s though important to remember that the board only have authority to issue a limited number of shares. It’s also worth noting that King and the other investors could also make further loans if they want to make more cash available for transfers.
 
Two points I think are important here. £6m will not be our transfer budget, it will be additional funds in to our overall pot this season after all loans etc transferred into shares.

Also, Gerrard not coming here for only £6m as a budget. He’s been offered two jobs so far, ipswich and MK Dons, hardly big money in those jobs either. What we are going to see is a top class manager coach and manage players into being better rather than buying better.
 
Haining84 said:
Pedro got about £10m minus share issue funding and Hummel deal.
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And that was more than we could afford at the time.

We won't be spending much more than that this Summer and we don't need to for us to compete.

Anyone expecting us to spend £15m nevermind £20m this Summer is in for a shock.
 
From talking to someone quite clued up on it, his understanding is that some of the loans will be converted to equity and some new funds will be raised.

This will not take up the full 108m shares that they have the authority to distribute.

The lower amount of money at this stage is largely down to Kings restrictions in participation due to the take over panel ruling.
 
Valley Bluenose said:
Its entirely my take on it mate, based on the comments by King reported on the BBC website and copied to my post #1163 above. Namely:

King says the share issue will mean loans are converted to equity as well as bringing in fresh finance.

"There will be a balance between the conversion of loans versus raising of new cash," he explained.

To me that makes it clear that some of the loans will be converted to equity - but not all of them because they want to make some funding available to Gerrard.

It's how I read it at least. I've simply suggested one of many ratios that could be applied. Far from ITK - thankfully!
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Thanks, that's kind of my take as well, that some will be loans converted to equity and some will be new cash which comes in. Club1872 will be part of that, which will prevent the percentage of shares dropping.

I wouldn't put a figure on the "war chest" though. I think people want to do that, and I can understand why, but there is nothing really there to provide a figure.

Hopefully your take is correct though.
 
scooter70 said:
That’s it Jaws, keep up the positivity

Moan moan moan
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It is %^*& all to do with positivity.

It hard clear fucking fact unless we spend a good bit of cash and spend it wisely then we won’t catch them.
They have a better team in every area and have access to more money also with Europe every year.

Delivering Stevie G is great but up until that Kings running of the club as a football team has been awful.
No new funds and just season ticket money and a few mill from a share issue won’t put a dent on them. We will also have about 10 players or more to leave this summer and still have the likes of Pena, Cardoso, Alves and Herrera on massive wages who will be difficult to get rid of.

%^*& all to do with positivity, it’s reality.

I didn’t expect some fancy foreign investor coming in with 40 -50 mill , however nor did I expect King saying the same guys financing it and this share issue.
In the times of Warburton and Pedro we have spent 11 million and barely improved, to expect Gerrard in his first job with a similar budget to challenge Celtic for the title is insane.

If King is going to find more money of his own with the other Bears on the board it begs the question, why wasn’t it done before, did they underestimate how difficult it would be to catch them.

I’m sorry Dave King has fucked up so much with his tenure with the team in the park and I have no reason to trust that he will give the necessary funds for Gerrard when he hasn’t before for the previous 2.
 
Greebo said:
Thanks, that's kind of my take as well, that some will be loans converted to equity and some will be new cash which comes in. Club1872 will be part of that, which will prevent the percentage of shares dropping.

I wouldn't put a figure on the "war chest" though. I think people want to do that, and I can understand why, but there is nothing really there to provide a figure.

Hopefully your take is correct though.
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The only 'leap of faith' I think I've taken is in assuming the figure of circa £6m King quoted is an addition to what was made available for transfers last year. I could have that completely wrong - and we also have to bear in mind that King has already committed to a further loan of circa £7m just to get us through next season. We are far from out of the financial woods yet IMHO.
 
CheckMateCharlie said:
Wait I’m confused. Is this 6 million on top of the directors loans being converted to shares hence making us debt free with 6 million cash on the hip? If so then that plus season ticket monies kit sales, Hummel money etc would be great and surely would mean 10 - 15 million spent in the summer.

If it’s just raising 6m without converting the directors loans to shares then that seems worrying, can someone confirm?
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We wasted £10M this season and if that is all we have for recruitment this coming season we can forget any chance of closing gap on Celtic. They are miles ahead of us already as results have shown and additions they make will be to enhance a squad that is miles ahead of us whilst our purchases will be replace the dross within our squad.

I definitely thought with the announcement of Gerrard that we had secured overseas investment that would allow a number quality signings, game changing players (which we have not had for far to long) and therfore found King's statement underwhelming (although it would be crazy of us to announce a massive transfer budget that would only result in high transfer fees on the players we are interested in).
 
Valley Bluenose said:
The only 'leap of faith' I think I've taken is in assuming the figure of circa £6m King quoted is an addition to what was made available for transfers last year. I could have that completely wrong - and we also have to bear in mind that King has already committed to a further loan of circa £7m just to get us through next season. We are far from out of the financial woods yet IMHO.
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I think it was £7m made up of £4m for this season and £3m for next as that is the predicted shortfall.

There is nothing wrong with your guestimate though, it's as good as anyone else's. People are talking about what will be made available to the manager, everyone but Dave King that is.

He has predicted £6m cash into the business, he has not talked about how much will be made available to the manager. It could be pretty much anything.
 
HailRicksen said:
We can’t say that for certainty yet, but I believe he will be.

SG wouldn’t be here if he wasn’t going to be given sufficient funds. Remember it wasn’t just us interviewing him, he was interviewing us. This is his first big managerial job and he’s not going to waste it on a lost cause. King has said numerous times his aim is to get us back on top. Stevie G must believe it possible or he wouldn’t have taken the job.
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I agree with you mate, my thoughts were SG ain’t coming here unless he is getting very good money to sort out our squad.
If he was told similar budget to Pedro of around 8 mill and any sales of players I don’t believe he would come for that as it most certainly isn’t enough to sort our team out.

I equally don’t expect him to say I have 20 million to spend, I did think though that with the two leaving that another few may have joined the board.
No budget need be discussed but with fresh blood on the board it would give you some confidence that there was a bigger budget.

All King has done has totally destroyed the positivity of the Stevie G appointment as many gers fans don’t see where the finances are coming from to challenge Celtic.
 
Hank Hill said:
And that was more than we could afford at the time.

We won't be spending much more than that this Summer and we don't need to for us to compete.

Anyone expecting us to spend £15m nevermind £20m this Summer is in for a shock.
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Well I am totally underwhelmed - Gerrard will be competing against Rodgers with one hand firmly tied behind his back if little more than £10M is our budget and I don't think I am wrong to say every Bear I know felt that a large warchest would be made available that would see genuine quality arrive at Ibrox for the first time since 2012 was on the horizon.
 
Greebo said:
I think it was £7m made up of £4m for this season and £3m for next as that is the predicted shortfall.

There is nothing wrong with your guestimate though, it's as good as anyone else's. People are talking about what will be made available to the manager, everyone but Dave King that is.

He has predicted £6m cash into the business, he has not talked about how much will be made available to the manager. It could be pretty much anything.
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Precisely mate. Too many taking the £6m figure as the 'transfer budget'. It could be that, or it could be double that.

For those saying it's not enough to match the Dhims, it must be remembered that whatever our budget the Dhims, currently, can spend more. It's how we spend it that matters and what SG can get out of these new and existing players. At the end of the day we have to beat 'the rest' and bring it down to the 4 Old Firm games. That way we have a fighting chance.
 
Jaws II said:
It is %^*& all to do with positivity.

It hard clear fucking fact unless we spend a good bit of cash and spend it wisely then we won’t catch them.
They have a better team in every area and have access to more money also with Europe every year.

Delivering Stevie G is great but up until that Kings running of the club as a football team has been awful.
No new funds and just season ticket money and a few mill from a share issue won’t put a dent on them. We will also have about 10 players or more to leave this summer and still have the likes of Pena, Cardoso, Alves and Herrera on massive wages who will be difficult to get rid of.

%^*& all to do with positivity, it’s reality.

I didn’t expect some fancy foreign investor coming in with 40 -50 mill , however nor did I expect King saying the same guys financing it and this share issue.
In the times of Warburton and Pedro we have spent 11 million and barely improved, to expect Gerrard in his first job with a similar budget to challenge Celtic for the title is insane.

If King is going to find more money of his own with the other Bears on the board it begs the question, why wasn’t it done before, did they underestimate how difficult it would be to catch them.

I’m sorry Dave King has fucked up so much with his tenure with the team in the park and I have no reason to trust that he will give the necessary funds for Gerrard when he hasn’t before for the previous 2.
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We spent more than any other club last summer, sadly we had wrong man in place

You do seem very angry though....

It’s like king is to blame for you buying into the many rumours that were flying about..
 
there is no way gerrard would've even looked at us if he had'nt been guarenteed sufficiant dosh to do his job. all the moaners on this fkn thread will moan no matter.lets just get behind the new manager. onwards and upwards people.no surrender.
 
Valley Bluenose said:
Precisely mate. Too many taking the £6m figure as the 'transfer budget'. It could be that, or it could be double that.

For those saying it's not enough to match the Dhims, it must be remembered that whatever our budget the Dhims, currently, can spend more. It's how we spend it that matters and what SG can get out of these new and existing players. At the end of the day we have to beat 'the rest' and bring it down to the 4 Old Firm games. That way we have a fighting chance.
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Precisely.

How many of their first team who started in the last game cost huge sums, and how many cost little or nothing.

There is a trying to buy quick success mentality with some people, and they are disappointed when the money that was never actually promised fails to appear.

How many of their team are / were young players who were developed there. Either through their academy, or bought from others as young prospects.
 
Valley Bluenose said:
Precisely mate. Too many taking the £6m figure as the 'transfer budget'. It could be that, or it could be double that.

For those saying it's not enough to match the Dhims, it must be remembered that whatever our budget the Dhims, currently, can spend more. It's how we spend it that matters and what SG can get out of these new and existing players. At the end of the day we have to beat 'the rest' and bring it down to the 4 Old Firm games. That way we have a fighting chance.
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I don’t think 6 is the budget even though a post I made earlier seemed to suggest I was saying that.

I think this King just raising some capital for the club.
However why I am concerned and confused is we have just hired SG and his team and realistically to challenge and get ahead of Celtic we have to get as many of our signings to be a success as possible. With players leaving and I believe there will be over 10, I think we need a budget of over 20 million.

If we don’t I don’t see us getting near them, they have a successful team and will have a similar budget to spend to improve that and possibly more.

To say no changes, no new faces, same people financing the club plus a 6 mill share issue doesn’t exactly fill you with confidence esp when they have only spent 5m On average per season since we got back up.
 
Jaws II said:
I don’t think 6 is the budget even though a post I made earlier seemed to suggest I was saying that.

I think this King just raising some capital for the club.
However why I am concerned and confused is we have just hired SG and his team and realistically to challenge and get ahead of Celtic we have to get as many of our signings to be a success as possible. With players leaving and I believe there will be over 10, I think we need a budget of over 20 million.

If we don’t I don’t see us getting near them, they have a successful team and will have a similar budget to spend to improve that and possibly more.

To say no changes, no new faces, same people financing the club plus a 6 mill share issue doesn’t exactly fill you with confidence esp when they have only spent 5m On average per season since we got back up.
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I agree there will be in excess of 10 leaving. Some will bring in funding though - and others will see a reduction in the wage bill that can be spent on new loans/signings. I think its a bit disingenuous to quote an average spend of £5m since we got back up since circumstances have changed markedly since then. Caixinha certainly got way beyond £5m - in fact, it must have been close to double that figure. I'd expect Gerrard to get somewhere around that figure and maybe a little more.

We won't be spending £20m - and if we did, the Dhims would simply spend more. We simply need to spend enough to see us comfortably beat the rest and make it a straight shoot-out in the 4 x Old Firm games. For now.
 
scooter70 said:
We spent more than any other club last summer, sadly we had wrong man in place

You do seem very angry though....

It’s like king is to blame for you buying into the many rumours that were flying about..
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Of course he is to blame he appointed managers way out of their depth who inherited awful teams to start with and expected them to turn their teams around with about 3.5m for Warburton and about 8m for Pedro.
They were hopeless and signed a pretty awful load of players.

The Board are totally to blame for this nobody else.

You may enjoy us getting trounced by the tims, I fucking hate it and want it to stop now.

Very happy with Stevie G as manager with a good team around him, but if he doesn’t have a substantial budget way more than previous years we have a very slim chance of winning the league anytime soon.

All I was hoping for today was something to hint that things were changing and that SG was going to get the support he needs.
Not one thing Dave King has said gives me any confidence that they are supporting SG and it is very frustrating.
 
Always find the idea of releasing your budget just fu(king daft.

It’s hard enough negotiating as Rangers, let alone telling the pond life that we have £15m.

That’s only going to push the price one way.

I’m happy that Gerrard has been assured he can compete.
 
Valley Bluenose said:
I agree there will be in excess of 10 leaving. Some will bring in funding though - and others will see a reduction in the wage bill that can be spent on new loans/signings. I think its a bit disingenuous to quote an average spend of £5m since we got back up since circumstances have changed markedly since then. Caixinha certainly got way beyond £5m - in fact, it must have been close to double that figure. I'd expect Gerrard to get somewhere around that figure and maybe a little more.

We won't be spending £20m - and if we did, the Dhims would simply spend more. We simply need to spend enough to see us comfortably beat the rest and make it a straight shoot-out in the 4 x Old Firm games. For now.
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Warbs spent about 3.5 to 4 mill net
Pedro spent about 7.5 to 8 mill net.

So it ain’t disingenuous at all it is an approximate average spend for each season back.

Our squad is far too poor and lacking in quality in every area to expect us to get near them spending 10 or 12 mill this season.
 
Hank Hill said:
And that was more than we could afford at the time.

We won't be spending much more than that this Summer and we don't need to for us to compete.

Anyone expecting us to spend £15m nevermind £20m this Summer is in for a shock.
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Your wrong on both accounts. We need £20 million in season 1 and £10-15 Million in season 2.
 
Jaws II said:
Warbs spent about 3.5 to 4 mill net
Pedro spent about 7.5 to 8 mill net.

So it ain’t disingenuous at all it is an approximate average spend for each season back.

Our squad is far too poor and lacking in quality in every area to expect us to get near them spending 10 or 12 mill this season.
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My point was that we are in a markedly different position now to when, for example, we were funding Warburton. The only real season you can compare is last year and we should, theoretically at least, be in a better position now than then.

Can I ask just who you think is going to come in and throw a shed-load of money at us? It's easy to say its up to the Board to find the investors - actually doing so is the 'slightly' more difficult bit.

We all want this to end - but it has to be done by prudent management. Because there is NO other option.
 
Recoba's Miracle said:
King isnt going to come out and tell everyone exactly how much Gerrard has to spend.

Gerrad was not coming here with 6 million to spend, not a chance in hell.

Lets just wait and see what transpires.
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Apart from the immediate kneejerk of "Whits going on?" I think that's fair.

Budget under wraps to avoid overpaying.


A 4 year contract for SG is paid in bits, that's why he's here.

I can see a lot of loan signings in next few years, to keep within budget.

Scum been doing the same, and that's with money in an offshore bank.

I'd like to know more, but no chance of that.

Now I've read it again, happy enough.
 
I personally think it's a good thing that a sizeable portion of Rangers fans are questioning today's announcement.

Blindly following previous Chairmen and Boards left us up the proverbial creek without the paddle.
 
Recoba's Miracle said:
King isnt going to come out and tell everyone exactly how much Gerrard has to spend.

Gerrad was not coming here with 6 million to spend, not a chance in hell.

Lets just wait and see what transpires.
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Apart from the immediate kneejerk of "Whits going on?" I think that's fair.

Budget under wraps to avoid overpaying.


A 4 year contract for SG is paid in bits, that's why he's here.

I can see a lot of loan signings in next few years, to keep within budget.

Scum been doing the same, and that's with money in an offshore bank.

I'd like to know more, but no chance of that.

Now I've read it again, happy enough.
 
1) I didn’t hear any mention of a transfer budget anywhere?
2) Do you think it’s a good idea to broadcast how much we’re going to spend to prospective selling clubs, or the mentally challengeds?
3) Hummel, Season Tickets, various add-ons will come to a lot more than £6M
4) Even if there is a lack of funds, blame Pedro, not DK
 
Valley Bluenose said:
I agree there will be in excess of 10 leaving. Some will bring in funding though - and others will see a reduction in the wage bill that can be spent on new loans/signings. I think its a bit disingenuous to quote an average spend of £5m since we got back up since circumstances have changed markedly since then. Caixinha certainly got way beyond £5m - in fact, it must have been close to double that figure. I'd expect Gerrard to get somewhere around that figure and maybe a little more.

We won't be spending £20m - and if we did, the Dhims would simply spend more. We simply need to spend enough to see us comfortably beat the rest and make it a straight shoot-out in the 4 x Old Firm games. For now.
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True but we can’t control what they do.
 
Competing with Celtic? 20m?

How about we let Gerrard in the door first and concentrate on getting clear of Aberdeen and Hibs first.

Our budget as it stands should see us well in front of Aberdeen and Hibs but here we are 2 games to go fighting for 2nd.

If Gerrard can trim the squad and use the current budget better then surely he can produce a squad capable of beating the 10 other teams. That would at least then give him a platform for the four games against the filth. Our main problem this season and last is that we can't beat the Kilmarnocks and Hamiltons etc.
 
StirlingBear said:
Competing with Celtic? 20m?

How about we let Gerrard in the door first and concentrate on getting clear of Aberdeen and Hibs first.

Our budget as it stands should see us well in front of Aberdeen and Hibs but here we are 2 games to go fighting for 2nd.

If Gerrard can trim the squad and use the current budget better then surely he can produce a squad capable of beating the 10 other teams. That would at least then give him a platform for the four games against the filth. Our main problem this season and last is that we can't beat the Kilmarnocks and Hamiltons etc.
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That’s it, we haven’t consolidated what we should have by this stage let alone challenge the terrorists, he will get the time, expect season2 to be the real fierce challenge.
 
It all strikes me as a bit strange.

Whilst I get you don't broadcast your spend it isn't really clear where significant funds are coming from. A lot of punters like it or lump it have associated the arrival of SG with the dawn of a new era and a big spend is part of that. Therefore if it's not the case that euphoria will last a game and a half and that's a worry.

The disaster we've had is that we found reasonably serious money and gave it to Pedro and we have guys tied up on good contracts with no resell value-that's a genuine worry.

As much as Stevie G might be associated with not taking the job without a big budget-who knows if he's signed up to say a three year plan to stop Ceptic. Maybe the Board have said we can't continue to chop and change it's three years and you are the man-we'll back you through that because changing managers when or if they get to 8 is not an option.

There's be a lot of assumptions made about it-my stance was that we were on the verge of a major mistake-as a fan seeing SG with the scarf just made me want to get behind him and hope the cash is coming to give him a chance.

I still don't see the logic in the deal despite all the hoopla I get it's caught a lot of attention but what does it mean if he can't deliver a clear challenge to them?

My worry above all is that if this board have been cute at anything and I get the personal commitment is that in times of crisis they've played to the gallery and got the response they wanted-they've done it from the departure of Warburton and he lead up to that to the dismissal of Murty....I fear a big part of SG was just a similar ploy-give the punters something they can get their teeth into-I'm not convinced it meets any joined up football strategy but I get we need to wait and see how things turn out.
 
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