Rangers in Trouble Again

[Lord Tyrion]

Ashley doesn't talk, period. Ask Newcastle fans. Occasionally Llambias would say something as his mouthpiece but even that was very limited. (clearly he is now at Rangers which is why I mentioned him but he did the same role at Newcastle for many years) Newcastle have currently banned half the written press from St James Park, including the local papers, so they are saying even less at the moment. Expect more of the same up in Glasgow. He is there to make money, not for the benefit of the club.

 

[c1973]

No one knows the real reason (undervalued the assets was the given reason), but most fans assume it's because certain individuals would have been off the board and out on their erse.

King invested (quite significantly) in the club when Murray ran the show, was a director for years as well.
The sticking point with him was that he was on the board when that infraction infraction craig whyte was the custodian of the club. A lot of folk don't like the fact he sat and done nothing (their view, I couldn't possibly know the ins and outs). He argues that members of the board tried to block whyte taking over (which I believe, as guys like John Greig have said the same) and also block numerous things he was up to.......but whyte ran the show...outright....so they were powerless to act.

That's an abridged version of events, but it gives you a flavour of it I suppose.

The others involved in the consortium have been shareholders at various levels for a good number of years now.

Edit: in response to LP.

 

[c1973]

The Indian guy is bigger crook than we've already got.

Is he? It wouldn't surprise me tbf. As I said, I've not actually had a proper look at that story.

 

[FairwayDodger]

Don't think you will ever get Ashley come out and say anything to the media

Who are the three bears and who offered to buy the club outright ? Was that the Basketball club owner

The three bears are wealthy rangers fans, guys who would seem to have the club at heart as opposed to something they can make money out of a la Whyte/Green/Ashley

 

[c1973]

Ashley doesn't talk, period. Ask Newcastle fans. Occasionally Llambias would say something as his mouthpiece but even that was very limited. (clearly he is now at Rangers which is why I mentioned him but he did the same role at Newcastle for many years) Newcastle have currently banned half the written press from St James Park, including the local papers, so they are saying even less at the moment. Expect more of the same up in Glasgow. He is there to make money, not for the benefit of the club.

I don't doubt he's here to make money, pretty sure Sports Direct have been involved since Murray was here anyway. But, for him to make money up here, we need to be successful on a European stage.

At the moment, I'll settle for that.

 

[FairwayDodger]

I don't doubt he's here to make money, pretty sure Sports Direct have been involved since Murray was here anyway. But, for him to make money up here, we need to be successful on a European stage.

At the moment, I'll settle for that.

I'd rather have our club back and controlled by people who care about it even that means it takes years to get to the point the Europe becomes a possibility.

Have a look at how Rangers retail works nowadays if you think Ashley is any sort of benefactor, he is bleeding the club dry.

 

[c1973]

I'd rather have our club back and controlled by people who care about it even that means it takes years to get to the point the Europe becomes a possibility.

Have a look at how Rangers retail works nowadays if you think Ashley is any sort of benefactor, he is bleeding the club dry.

I don't disagree FD.

I'm just at the stage, I want my club off the front page I guess.

And I'm not sure there's many who can afford to run a club the size of ours as a benefactor. I think it's going to be a case of making money in some way, whether that be bringing through and selling on, or through retail unfortunately.

I'd love the fans to own the club outright, but I don't see that working out tbh. And who would be on the board? Reps from the Union Bears, Sons of Struth, Union of Fans, Rangers Supporters Trust, Rangers Supporters Assembley etc?????

These folk are more fractured than the bloody club!

 

[Val]

Let me ask this, what would the 3 bears bring that you don't already have in the Easdales etc?

I should add, who are the current 3 bears consortium? I initially thought this was the mob fronted by Paul Murray.

 

[BrizoH71]

Let me ask this, what would the 3 bears bring that you don't already have in the Easdales etc?

I should add, who are the current 3 bears consortium? I initially thought this was the mob fronted by Paul Murray.

The consortium is made up of Douglas Park (owner of Parks Motor Group), George Letham (who had previously given Rangers 1m) and Hong Kong-based George Taylor, who is some Morgan Stanley bigwig.

None of these guys will seriously put their hands in their pockets. They'll look to get into the boardroom and then turn to the fans again to pump more money into the club. The big issue is if they do get into the boardroom, Ashley will likely call in his loans and force the club back into administration as there'll be no funds to pay him so he'll take the secured assets.

 

[FairwayDodger]

Let me ask this, what would the 3 bears bring that you don't already have in the Easdales etc?

I should add, who are the current 3 bears consortium? I initially thought this was the mob fronted by Paul Murray.

Three bears is fronted by Donald Park, George Letham and George Taylor. Different group from the Dave King, Paul Murray lot, although hopefully prepared to work together.

The Easdales are utterly discredited by their associations with Blue Pitch/Margerita and kowtowing to Ashley and his asset-stripping.

The only way forward for Rangers is complete regime change, the fans aren't coming back while the current board is in place.

 

[c1973]

My take on it is that King is the frontman/spokesman for both groups (his and the 3 bears), they're on the same page so to speak but can't be seen to be acting together because of some sort of rule to do with trading/stock market/buying shares (not 100% sure, but I mind reading something on it). Maybe someone could shed light on this?

Brizo pretty much nails it to a degree for me. Although, King could certainly afford to pay the loans. It would just cut into other funds that would (imo) be earmarked for other things.

Like it or not, Ashley will not be going anywhere imo. Better all round if King etc find a way of working with him. Perhaps let him see out the current merchandising deal, then renegotiate? Will that happen? Who knows.

Ashley making cash of the merchandise is nothing new, JJB had the deal before SD. Our merchandising has been bought and paid for up front since around 2004. I think sometimes the fans forget that. NOT that I'm saying that's acceptable or a good thing, but it is a fact.


Edit: I'm pretty sure Ashley only has security on his loans on the Edminston and the car park. If he was asset stripping, which I don't believe is his style, would he not have insisted on Murray Park and Ibrox as security?


Either way it's painful for all supporters of the club to watch.



Though the straits be broad or narrow.......

 

[FairwayDodger]

My take on it is that King is the frontman/spokesman for both groups (his and the 3 bears), they're on the same page so to speak but can't be seen to be acting together because of some sort of rule to do with trading/stock market/buying shares (not 100% sure, but I mind reading something on it). Maybe someone could shed light on this?

Brizo pretty much nails it to a degree for me. Although, King could certainly afford to pay the loans. It would just cut into other funds that would (imo) be earmarked for other things.

Like it or not, Ashley will not be going anywhere imo. Better all round if King etc find a way of working with him. Perhaps let him see out the current merchandising deal, then renegotiate? Will that happen? Who knows.

Ashley making cash of the merchandise is nothing new, JJB had the deal before SD. Our merchandising has been bought and paid for up front since around 2004. I think sometimes the fans forget that. NOT that I'm saying that's acceptable or a good thing, but it is a fact.


Edit: I'm pretty sure Ashley only has security on his loans on the Edminston and the car park. If he was asset stripping, which I don't believe is his style, would he not have insisted on Murray Park and Ibrox as security?


Either way it's painful for all supporters of the club to watch.



Though the straits be broad or narrow.......

Rangers get 75p out of every £10 spent on merchandise. I'm pretty sure that's not how things have been since 2004.

Ashley has security on Murray Park and attempted to get it on Ibrox.

 

[ger147]

Rangers get 75p out of every £10 spent on merchandise. I'm pretty sure that's not how things have been since 2004.

Ashley has security on Murray Park and attempted to get it on Ibrox.

He also has security over all Rangers's trademarks, the main one being the club's badge.

 

[c1973]

Rangers get 75p out of every £10 spent on merchandise. I'm pretty sure that's not how things have been since 2004.

Ashley has security on Murray Park and attempted to get it on Ibrox.

The point I was making was that the deal had been made prior to the current board (who, for the avoidance of doubt, I would gladly throw headfirst down the marble staircase myself).


I knew about the attempt regards Ibrox but I admit to not knowing/forgetting about Murray Park.

 

[ger147]

The point I was making was that the deal had been made prior to the current board (who, for the avoidance of doubt, I would gladly throw headfirst down the marble staircase myself).


I knew about the attempt regards Ibrox but I admit to not knowing/forgetting about Murray Park.

You seem to be unaware that the deal was re-done on far more favourable terms for Sports Direct by the current baord, hence the outrage.

 

[FairwayDodger]

You seem to be unaware that the deal was re-done on far more favourable terms for Sports Direct by the current baord, hence the outrage.

Exactly!

 

[c1973]

You seem to be unaware that the deal was re-done on far more favourable terms for Sports Direct by the current baord, hence the outrage.

No, I'm aware of that. But it seems to me that my point/s is/are either being misinterpreted or that I've not been making them clear enough. Perhaps a combination of the two?

Are you aware that King etc could have put their hand in their pocket and bought the club/shares prior to all of this shambles kicking off, thus preventing it happening in the first place, but didn't or couldn't come up with the cash?

I'm not decrying King btw ( I think his heart is in the right place ), I'm just saying things aren't always black n white.




Anyway I'm going to bow out of this (and any subsequent) thread on this issue now. Save, perhaps, to comment on any response to this post.


Though the straits be broad or narrow....

 

[ger147]

No, I'm aware of that. But it seems to me that my point/s is/are either being misinterpreted or that I've not been making them clear enough. Perhaps a combination of the two?

Are you aware that King etc could have put their hand in their pocket and bought the club/shares prior to all of this shambles kicking off, thus preventing it happening in the first place, but didn't or couldn't come up with the cash?

I'm not decrying King btw ( I think his heart is in the right place ), I'm just saying things aren't always black n white.




Anyway I'm going to bow out of this (and any subsequent) thread on this issue now. Save, perhaps, to comment on any response to this post.


Though the straits be broad or narrow....

I think there is a court case coming up about whether anyone else could have bought everything when Charlie boy nipped in, hence the arrests of the administrators and lawyers involved at the time.

 

[Val]

My question about what would the 3 bears bring in comparison was geared towards this chain of thought.

Right now the shareholding of Rangers has been diluted so much that should the 3 bears gain control how would they fund anything without diluting the shares further and begging to the suffering fans again? Neither of these business men will put serious amounts of their own cash in with no guarantee of a return for their investment. Right now Rangers cannot afford to run on it's own 2 feet (hence the Ashley loans) and this £10m loan is going no-where, it is currently Rangers biggest debt and when you consider what income the club generate now a £10m is a huge debt to carry and even if the 3 bears get control this debt will still be there regardless of who takes it on.

It's only going to get messier IMO

 

[davidy233]

Not really on topic but I'd just like to mention I'm mates with both the Raith players who scored at Ibrox yesterday - cracking couple of lads, who helped us win promotion last season