I’ve Stopped My Club 1872 Contributions In Light Of The Proposed King Shares Puchase

Surely king could have waited until we actually win something?
Why?, for me it's good news it sends the fans closer to what we want no more spivs ever getting a hold of the reigns, I think we should put petty personal preferences aside and go for it.

Were not always going to have a saviour step iif with his wallet flung open if were going to the wall anytime in the future.

Let's take the opportunity and get as many fans involved as possible.. would also be beneficial if accounts were shall we say audited by a neutral party as well.
 
Can someone with more knowledge than me explain the flaw in the following please?:


DK sells 20% of his holdings to C1872 at 20p per share. This reduces King's holdings to around 20% of the club. This renders his selling them on the open market for true value 'safe' in as much as a spiv cannot buy enough to even veto resolutions, and it is therefore an unattractive proposition for someone trying to spiv it up, knowing that future share issues would see them need to input cash to the company they are aiming to pillage. C1872 can increase their holdings a little now, by 5% in fact, and still have a good deal of potential member money to play with at the next chance shares become available from the club.

edit, the 5% can be adjusted up and down to make certain of known undesirables that already hold shares to keep them at a lower level.
 
After much deliberation, I’ve decided to no longer contribute to Club 1872.

I don’t think that it’s too much of a stretch to say that recent announcements are a bit of a kick in the teeth to our current wealthy investors, who are all loyal supporters like you and I.

If I’d invested the sums of money these shareholders had, I’d be concerned that a fans’ group could soon have a majority say in the club I’ve heavily invested in.

For me, the not inconsiderable sum of £13 million would do a lot more good going to the club than any individual.
And I say that as a big Dave King fan.

That the Club 1872 fans’ group seems to be extremely poorly run would only add to my concerns.

As someone who has contributed each month to Club 1872 for a long time, the King news just doesn’t sit right with me.

Club 1872 members were polled recently to ascertain interest in a much smaller shares purchase, yet there is no such similar poll for a potentially much larger purchase.
How can this be?

Our club desperately needs money – and, as a Club 1872 member, I’d far rather our money went towards new shares, so the £13 million that has been suggested goes to the club.

And I’m quite sure the current board would be very receptive to such a move.

King has every right to sell his shares – and I’ll be eternally grateful for all his efforts – but I think this is a terrible move.

I trust King enough to be able to sell his shares to other investors who would have RFC’s best interests at heart.

Apologies if this seems overly dramatic, but I can no longer support Club 1872 on this new path they’ve chosen without even consulting members.

Any money I’ll be spending from now on will exclusively be going direct to the club.

I appreciate some may think this is a ‘look at me’ post – it’s not... and I also appreciate that some may question the need for a new thread – but I think that people deciding to walk away from Club 1872 in light of recent events is reason enough for a thread in its own right.

Anyone else feel similar?
That’s exactly how I feel. The transaction just doesn’t make sense to me as it stands many more questions than answers. The biggest one for me being as you have said is none of the £13m goes to the club when we need cash. The sub plot being have relations between King & other key investors soured?

Maybe just me but should such a big decision for C1872 not have been put to the vote to existing members?
 
I think it's a mistake to suggest C1872 ownership protects us for good. That's nowhere near a guarantee.

OK, provides a block vote against someone like Whyte coming in and ripping us apart to the same extent as he did at least. Or, stops Ibrox from being sold from under us if someone fancies doing it on a whim.

I'm not on board with the negativity or, what seems to be, from a prominent set of posters on here and other known names in the Rangers fan community being quite so stand offish here.

This is the Holy Grail for people who set out to have fan ownership under the RST way back when.

Why's this not a good idea now (assuming the correct corporate governance etc)
 
This will be the first I’ve spoken of it but I don’t like the idea of Club 1872 having that control. Way too much petty squabbling among fans, too much self interest and ego and in light of that I just don’t think this is a great idea at all. I love Dave King but can’t really say I agree with this move.
 
1. I’m not convinced it’s the best thing for our club to have the majority share holder being such a large collection of individuals who may not be willing or able to supply anymore than the initial share purchase contribution.

2. I fear this subject is going to be decisive for our support. With so many views/agendas/loyalties/capabilities

3. 1 and 2 will combined means potential trouble for my club.
 
After much deliberation, I’ve decided to no longer contribute to Club 1872.

I don’t think that it’s too much of a stretch to say that recent announcements are a bit of a kick in the teeth to our current wealthy investors, who are all loyal supporters like you and I.

If I’d invested the sums of money these shareholders had, I’d be concerned that a fans’ group could soon have a majority say in the club I’ve heavily invested in.

For me, the not inconsiderable sum of £13 million would do a lot more good going to the club than any individual.
And I say that as a big Dave King fan.

That the Club 1872 fans’ group seems to be extremely poorly run would only add to my concerns.

As someone who has contributed each month to Club 1872 for a long time, the King news just doesn’t sit right with me.

Club 1872 members were polled recently to ascertain interest in a much smaller shares purchase, yet there is no such similar poll for a potentially much larger purchase.
How can this be?

Our club desperately needs money – and, as a Club 1872 member, I’d far rather our money went towards new shares, so the £13 million that has been suggested goes to the club.

And I’m quite sure the current board would be very receptive to such a move.

King has every right to sell his shares – and I’ll be eternally grateful for all his efforts – but I think this is a terrible move.

I trust King enough to be able to sell his shares to other investors who would have RFC’s best interests at heart.

Apologies if this seems overly dramatic, but I can no longer support Club 1872 on this new path they’ve chosen without even consulting members.

Any money I’ll be spending from now on will exclusively be going direct to the club.

I appreciate some may think this is a ‘look at me’ post – it’s not... and I also appreciate that some may question the need for a new thread – but I think that people deciding to walk away from Club 1872 in light of recent events is reason enough for a thread in its own right.

Anyone else feel similar?

Few things:

1. Not sure why a new thread was needed when there’s already several other threads regarding this

2. Again, I keep seeing folk claim the money would be better off going direct to the club. In order for this to happen, the directors would have to issue a shitload of fresh shares which would result in either their shareholding’s being diluted or them having to fork out millions more just to keep their existing % in the club.

Not going to happen.
 
Few things:

1. Not sure why a new thread was needed when there’s already several other threads regarding this

2. Again, I keep seeing folk claim the money would be better off going direct to the club. In order for this to happen, the directors would have to issue a shitload of fresh shares which would result in either their shareholding’s being diluted or them having to fork out millions more just to keep their existing % in the club.

Not going to happen.
Again, no idea, but how much is left in loans still to be converted and could an issue of shares not be piggy backed onto any in specific amounts to allow for dilution?
 
Also those not happy they’re paying the money to King.

King literally saved the club with his own money. He’s ploughed plenty in.

99.9% of us were all grateful.

Now he’s looking to sell up having done what he set out to do, and folk on here aren’t happy that he dares to want most of his money back?

Some amount of spoilt children on here
 
OK, provides a block vote against someone like Whyte coming in and ripping us apart to the same extent as he did at least. Or, stops Ibrox from being sold from under us if someone fancies doing it on a whim.

I'm not on board with the negativity or, what seems to be, from a prominent set of posters on here and other known names in the Rangers fan community being quite so stand offish here.

This is the Holy Grail for people who set out to have fan ownership under the RST way back when.

Why's this not a good idea now (assuming the correct corporate governance etc)

My opinion is pretty much negligible in terms of influence in this regard, so it might be that I'm not best to answer that.

I've never been sold on fan ownership as a concept for Rangers. I accept it works elsewhere, I'm not sure it would for us. I've never been a member of any of the fans groups.

I find the arguments for it a bit too "best case" in terms of what it will provide. Ultimately though, there are many, many more voices more knowledgeable than me to consider, including yourself.
 
Said before Club 1872 will split into factions and when one faction doesnt get their way they will walk away and cash flow becomes an issue.
Not implying this is what OP is doing btw.
Club 1872 are already suffering from infighting and I cant see this wotking as a majority shareholder. Fans having a seat on the board and a substantial shareholding is good but not to the level of a potential veto.

Help me out here GL mate as my head is spinning with this.

Was that not the whole point of C1872 setting up in the first place? This veto would stop any possibility of what happened in the recent past happening again - or am I missing something again?

I think we really need to know what DK's plan B is if C1872 don't get the required funds to buy all or at least a significant amount of his shares.

After much deliberation, I’ve decided to no longer contribute to Club 1872.

I don’t think that it’s too much of a stretch to say that recent announcements are a bit of a kick in the teeth to our current wealthy investors, who are all loyal supporters like you and I.

If I’d invested the sums of money these shareholders had, I’d be concerned that a fans’ group could soon have a majority say in the club I’ve heavily invested in.

I think I understand and probably agree where you are coming from, I have to ask when you signed up to contribute to C1872, did you do so in the hope they would one day become the biggest shareholder?

If so, how did you think they would manage that without buying shares off other shareholders instead of acquiring shares that Rangers directly benefits from?

Not at all having a go here - trying to educate myself and understand the thinking as I am clueless with anything relating to shares.
 
Again, no idea, but how much is left in loans still to be converted and could an issue of shares not be piggy backed onto any in specific amounts to allow for dilution?

We don’t know if the current directors and big financial hitters will want the next tranche of loans to be converted to shares.

They may well be making the money available on an interest free loan.

We don’t know.

But if folk want club1872 to fire £13m into the club, that’s a shitload of new shares that would need issued. Again, not going to happen
 
The corporate governance of C1872 seems to be non-existent.

How anyone would willingly give money to a company who has failed to hold an AGM since 2018 and who has a revolving door of board members and company officers is crazy.

No one should be investing money in C1872 until all of their current issues are resolved and there is a high level of corporate governance in place to drive the initiative forward.

This would include a full time board with the knowledge and ability to deal with a multimillion pound investment.
 
Thats fine If the board has said they dont mind If they sell to C1872. But If fans dont like it thats another thing,
The OP stated he felt it was a ‘kick in the teeth’ to current investors and that’s why he will cease contributing.

The fact that the current investors seem to be happy with the arrangement clearly shows that the OP has an other agenda with what’s going on.

I just wish folk would cut the crap & have the power of their convictions to say what they really mean .
 
We don’t know if the current directors and big financial hitters will want the next tranche of loans to be converted to shares.

They may well be making the money available on an interest free loan.

We don’t know.

But if folk want club1872 to fire £13m into the club, that’s a shitload of new shares that would need issued. Again, not going to happen
If there were around that figure in loans, not saying there is, is it possible to piggyback an issue of new shares to C1872 onto the issue of shares to 'pay back' the loan without diluting anyone's holdings? I genuinely do not know.

edit, not talking specifics here, asking in general terms and purely hypothetically.
 
FWIW - one thing I will agree on with the OP and others is that c1872 governance is a shambles

Recent directors resigned with finger pointing at those that have stayed in place.

No recent elections.

Carry on with the daily record

The list goes on.

I’m not convinced they’ll get anywhere near the £13m or 20,000 new members they require as I think their reputation is muck and can’t be repaired. Also doesn’t help when the current folk running it have a lot of folk not trusting them either due to alleged ego’s
 
Also those not happy they’re paying the money to King.

King literally saved the club with his own money. He’s ploughed plenty in.

99.9% of us were all grateful.

Now he’s looking to sell up having done what he set out to do, and folk on here aren’t happy that he dares to want most of his money back?

Some amount of spoilt children on here
It's much like the selling players for profit model. Everyone loves it whens it's proposed, then when we try and actually do it it's "oh keep him for another year" "too soon wait till he's played in the Euros/World Cup/Champions League" "why are we selling we need to keep everybody to win trophies".
 
Few things:

1. Not sure why a new thread was needed when there’s already several other threads regarding this

2. Again, I keep seeing folk claim the money would be better off going direct to the club. In order for this to happen, the directors would have to issue a shitload of fresh shares which would result in either their shareholding’s being diluted or them having to fork out millions more just to keep their existing % in the club.

Not going to happen.

C1872 could simply donate the money. Or buy the world's most expensive scarf from the club shop - yours for £13,000,000. Or a fancy c1872 sponsor patch on the match strip.

That doesn't dilute the existing shareholders holding. It puts money into the club. It also doesn't really address the issue that anybody can buy the club and run it as they see fit.
 
Did DK not say in his statement that the board agreed with him selling his shares to Club1872?
Exactly that!!!! The rest of the board of Directors are fully supportive of this move, it was always the end game of Dave King, on numerous occasions he stated he wanted supporters to have more of a say and his legacy was to ensure that once wrestled from Charlatans it could never go back.

Clearly his family do not want to continue with involvement in Rangers, they don’t have the same connection that he has with our club, he’s getting on and he wants to do the decent thing now before the share price is beyond the realms of Club1872 being able to afford the purchase. Ie 40 to 50p a share in real terms.

well done DAve King I say!
 
If club 1872 can raise 13 million they should invest that money into Rangers not Dave Kings Bank account.
Club 1872 are struggling to raise funds to buy shares at the moment, and with only 8000 members at present, not all contributing there isn’t much hope of them raising a tenth of that in 3 years without supporters helping.
Going by the number of club 1872 members on these boards saying they are no longer going to contribute anymore then it’s a nonstarter.
So we will be left with the scenario of Dave King putting his shares on the open market, and hopefully not to another spiv.
We all know how that worked out for us in the past, how many millions did Green raise on his share issue, and where did it all go.
I have been contributing to club 1872 from the Rangers Supporter Trust days, and still am. I am hoping to hear a bit more about the scheme in the near future hopefully by the AGM.
My thoughts at the moment is that I will convert my monthly donation to the Legacy Fund I never want my club to go back to the old days of Murray running the club into the ground, and letting Whyte in the door, followed by a whole succession of people who bled this club dry before Dave King, and the 3 bears rescued us.
I will be forever grateful to these guys, and if Dave King wants to sell his shares then I hope they go to the right people.
 
Would it be preferable if King sells his shares on the open market to anyone with the cash? It would benefit King financially - Not so sure it would benefit the club, In the meantime C1872 can continue hoovering up multiples in any forthcoming share issues.
King’s told us today that basically he can’t guarantee what his kids would do with his shares if he wasn’t around to oversee disposal.

If it’s not C1872 in 3 years there may be no other buyer out there and the shares sit with King until his kids inherit them. What could happen next with his ‘detached’ kids is anyone’s guess.
 
Its conundrum for sure.

C1872 don’t have a good rep - many people during the dark days said we needed fan ownership.

Now that chance exists.

If C1872 is to change then it will need members willing to change it therefore leaving it probably won’t help as it’s easier to change things from the inside than the outside - nothing wrong with leaving, it’s your right as individual to choose and if your happy more power to you. Kudos for saying it as well many won’t and we won’t have decent dialogue about it.

Its been stated many times by King the money used was not entirely his but it formed part of the inheritance for his kids - so I don’t blame him for wanting his money back - his shares he gets to decide who to sell them to. I doubt he didn’t tell the board of his plans but that’s doesn’t mean they agree with it.

Not convinced that the level of shares bought will equal the amount of power that Is available over the years - 13m will be a tall order to begin with just to get all of kings current shares.

As more shares are issued that holding will be diluted so as the loans from the other investors are repaid in shares the power is reduced - now it’s been said that C1872 will be offered the chance to buy shares to keep the same voting share to counteract this but if you think they won’t hit 13m to begin with then it’s likely that over time it will be diluted.

right back to lurking
 
Spot on. The money should be ploughed straight into the club, no ifs buts or maybes
Unfortunately it doesn't work like that we can't just gift the club funds. It can be done via a loan into shares equity. Or via a share issue which would then dilute the current shares. Buying the shares direct from King will be the only way club 1872 can have to have the 25% + 1.
 
Few things:

1. Not sure why a new thread was needed when there’s already several other threads regarding this

2. Again, I keep seeing folk claim the money would be better off going direct to the club. In order for this to happen, the directors would have to issue a shitload of fresh shares which would result in either their shareholding’s being diluted or them having to fork out millions more just to keep their existing % in the club.

Not going to happen.
I've replied to you In another thread but theres been a shut losd of shares issued this year already, so why say it like this is impossible to do?
 
C1872 could simply donate the money. Or buy the world's most expensive scarf from the club shop - yours for £13,000,000. Or a fancy c1872 sponsor patch on the match strip.

That doesn't dilute the existing shareholders holding. It puts money into the club. It also doesn't really address the issue that anybody can buy the club and run it as they see fit.

They could, but ultimately c1872 get nothing in return?

It’s like saying well why doesn’t Douglas Park use Parks of Hamilton as a shirt sponsor and throw millions in with no money in return.

I genuinely don’t see why folk are annoyed at c1872 looking to increase its shareholding
 
An awful lot of people are very strong in their opinions already. I hope they are all open to changing when all questions are answered. I am C1872 contributor, I won't be making any decisions until I hear from all the relevant people. We need to do what is best for the club. If that means listening to all the options and coming up with an acceptable solution, then let's do it.
 
They could, but ultimately c1872 get nothing in return?

It’s like saying well why doesn’t Douglas Park use Parks of Hamilton as a shirt sponsor and throw millions in with no money in return.

I genuinely don’t see why folk are annoyed at c1872 looking to increase its shareholding
The fans will get nothing in return this way either. In the next 2-3 years the board will have to issue shares to the value of £22m, which will mean any DK ahareholdering c1872 take up will be further diluted.
 
I've replied to you In another thread but theres been a shut losd of shares issued this year already, so why say it like this is impossible to do?

There has been but there’s only so much that Park etc will be willing to plough in and I suspect that well will run dry after this seasons money they’re covering our losses for

I’d be stunned if they’re prepared to put more money in after this season to be converted to shares. I just can’t see it.

Therefore in my view there won’t be any more significant share issues as it would mean Park and co would either have their % diluted or they’d have to fire in more millions just to keep their existing %
 
They could, but ultimately c1872 get nothing in return?

It’s like saying well why doesn’t Douglas Park use Parks of Hamilton as a shirt sponsor and throw millions in with no money in return.

I genuinely don’t see why folk are annoyed at c1872 looking to increase its shareholding
I think a real concern is that C1872 could raise £13 million, buy all of King's shares and literally the following day be in a position of having to either veto a loan from another director that would be converted to equity and dilute the new holding, veto a new rights issue or share issue for the same reason or be forced to go to the membership immediately and try to raise cash, or, indeed, see the 25% turn to 20% overnight rendering the initial purchase a failure in terms of hitting the magic number.


£13 million going to a director instead of the club increases the chances of the club needing external funding to function correctly, meaning that a dilution of the 25% or a further raising of capital from C1872 becomes a very pressing issue.


That said, this is an issue they will always face at 25% anyway and is something that needs to be factored in; The race to the magic number is not the end of the line, it is the start of a permanent quest to maintain that volume of shares.
 
I don't see the same threat of a rogue investor(s) as when Whyte came in. That was a pretty specific circumstance with the (imagined but still threated) £70/90/134/whatever number of millions that week that would be owed by an owner.
Then that leads to the Green/Ashley etc era which we all know and don't need to cover again.

That's not a factor here, and shouldn't be for King selling in the next few years. In the future it's possible, but that will just mean dilligence from the support and current board.
 
There has been but there’s only so much that Park etc will be willing to plough in and I suspect that well will run dry after this seasons money they’re covering our losses for

I’d be stunned if they’re prepared to put more money in after this season to be converted to shares. I just can’t see it.

Therefore in my view there won’t be any more significant share issues as it would mean Park and co would either have their % diluted or they’d have to fire in more millions just to keep their existing %
There quite literally has to be more issues otherwise we will run out of money. You contradict your point, you say who cares the £13m wont go to rangers but also say that DP etc will run out of cash. Them woukdnt it be good for the club to gr the £13m Have you read the accounts? We have a funding gap of £22m. DP and others have already committed to fund it. It's not a case of will we or womt we issue new shares, on our current spending we have to.
 
Of course the £13m would be better going direct to Rangers.
But the reality is that Mr King wants these shares sold. That presents a risk to the club if more rats get hold of them, and also presents an opportunity to fans ( in this case in the form of Club 1872 ) to have an influence in the control of our club.
In spite of the reputation for fans leaders to disagree etc, this group has raised funds, has bought shares (5% now) and has not gone away.
They could do with better profile and communications, a leader..
Best outcome looks to be support them and get the job done, or partly done to allow fans group more influence. If there are shares left unsold then Dave King should make sure what's left go into the right hands, true blues like him.
Or if there is some great reason why people shouldn't support the fans group, we just go back to hoping the right type of supporter buys into Rangers. That's not appealing.
( Murray, Whyte, Green etc ) scary how easy it was for the wrong people to get up the marble staircase.
 
They could, but ultimately c1872 get nothing in return?

It’s like saying well why doesn’t Douglas Park use Parks of Hamilton as a shirt sponsor and throw millions in with no money in return.

I genuinely don’t see why folk are annoyed at c1872 looking to increase its shareholding

That's exactly the way some fans view club ownership. Rich investors should be able to run the club as they see fit in exchange for regularly ponying up money to cover losses and continually swapping debt for equity.
 
I very much doubt King has made this move without letting the other major shareholders know the plan. When the other investors came on board I’m sure then would have known of King’s end game for his shares.

If not, then this is a worry and unnecessary off the field distraction.

Feels like a buzzard move, my main concerns are the £13m not going to the club and the ability of Rangers fans to come together under one banner. History tells us a lot of bears can fall out over the colour blue.
The board and major shareholders knew nothing about it until 15 minutes before the announcement.
 
We also need to be cogniscent of how football is changing.

The offer of England or a European League would be grasped at by many. That changes the Club and how it is viewed.

At that time, we would be thankful of having a significant % of the Club under fan ownership.
 
I think what is becoming clear is the board need to say something now.

That might be a bit of a departure from what I usually say, I am vocal against the 'we need a statement' crowd everytime someone says something we don't like.

But there needs to be clarity. If the board of directors wish for fans to back Club 1872 and buy the shares then say so. If they would rather we put money to the club, through a share issue or other means, then say so.

Silence will just result in fans being unsure what to do and nothing getting done most probably.
I think they will be have to comment on it at the AGM on 15 December. Someone is bound to ask the question.
 
I do find it rather alarming that people don’t seem to understand why C1872, or anyone else for that matter, can’t just give a significant amount of cash straight to the club.
 
I do find it rather alarming that people don’t seem to understand why C1872, or anyone else for that matter, can’t just give a significant amount of cash straight to the club.
Like Park and Bennett?
 
I think a real concern is that C1872 could raise £13 million, buy all of King's shares and literally the following day be in a position of having to either veto a loan from another director that would be converted to equity and dilute the new holding, veto a new rights issue or share issue for the same reason or be forced to go to the membership immediately and try to raise cash, or, indeed, see the 25% turn to 20% overnight rendering the initial purchase a failure in terms of hitting the magic number.


£13 million going to a director instead of the club increases the chances of the club needing external funding to function correctly, meaning that a dilution of the 25% or a further raising of capital from C1872 becomes a very pressing issue.


That said, this is an issue they will always face at 25% anyway and is something that needs to be factored in; The race to the magic number is not the end of the line, it is the start of a permanent quest to maintain that volume of shares.

Tbh I’ll be extremely concerned if the club are still requiring yearly bailouts from the directors after this season.

We have to get back to running on a break even basis.

We have plenty of highly valued players now and I suspect from this summer onwards, if we need money to break even, we’ll be selling a player for big money.

The directors won’t keep wasting their own money on shares.
 
I think they will be have to comment on it at the AGM on 15 December. Someone is bound to ask the question.
You've said the board knew nothing about the announcement until just before it was released. I'll take that a face value and believe it.
If you know, are the directors in favour or against this idea? If you can say.
 
How are C 1872 going to raise 13 Million ? Who is going to contribute when none of the money is going into the Club ?
So effectively you are contributing money to buy DK shares ?
I just can’t see how it’s going to work as it’s had /got infighting and run badly which has been highlighted from people on this forum.
It's a complete non starter under the present directorship of C72, which is viewed by most as elitist and untrustworthy mainly due to the infighting and lack of communication. If King genuinely wants to cash in on his shares he would be better finding an alternative investor.
 
Tbh I’ll be extremely concerned if the club are still requiring yearly bailouts from the directors after this season.

We have to get back to running on a break even basis.

We have plenty of highly valued players now and I suspect from this summer onwards, if we need money to break even, we’ll be selling a player for big money.

The directors won’t keep wasting their own money on shares.
We can all agree on that!
 
There quite literally has to be more issues otherwise we will run out of money. You contradict your point, you say who cares the £13m wont go to Rangers but also say that DP etc will run out of cash. Them woukdnt it be good for the club to gr the £13m Have you read the accounts? We have a funding gap of £22m. DP and others have already committed to fund it. It's not a case of will we or womt we issue new shares, on our current spending we have to.

I’m aware we have a funding gap for the rest of this season which the directors will personally fund.

However, my point was that after this tranche, IMO they won’t stick anymore of their own money in.

If we have a gap next season, it’ll be a player or 2 sold in the summer to bridge the gap.

When the directors plough in the next tranche of millions, IMO only some of it will be converted with some being paid back as an interest free loan.

Either way, in 3 years time they won’t be issuing £13m worth of new shares IMO as they’d have to fork out again to keep existing % or have their shareholding diluted if c1872 hoovered up £13m worth
 
Like Park and Bennett?

They are existing shareholders and give the club money in exchange for more shares.

People can’t just give the club £13m for nothing, it would have to be more for someone’s shares (which is what C1872 are proposing) or it would need to be for a fresh share issue which isn’t going to happen.
 
Said before Club 1872 will split into factions and when one faction doesnt get their way they will walk away and cash flow becomes an issue.
Not implying this is what OP is doing btw.
Club 1872 are already suffering from infighting and I cant see this wotking as a majority shareholder. Fans having a seat on the board and a substantial shareholding is good but not to the level of a potential veto.
Our fan base is too diverse to have 8 figure sums being thrown about under one banner. Call me a pessimist but this whole idea has disaster written all over it.

fwiw I’ll be forever grateful to Dave King and he’s more than entitled to want money for his shares.
 
The board and major shareholders knew nothing about it until 15 minutes before the announcement.
See that concerns me.

Why would King not inform them of his intentions first?Has a rift developed between King and the board since he stepped down?

You’d have thought after everything a large number of them ha e went through,a heads up would’ve been the least to expect let alone discussing it with them.
 
Back
Top