Am I right...

Companies take out loans against their assets all the time.

comment by meuandcoop (U5293)
posted 3 hours, 10 minutes ago
the difference is that its not for a loan or for additional investment and that's the problem!

No, no no ! The ST money is effectively a loan against seats for the season so that doesn't wash. The problem is that the Board , once again, are refusing to even have dialogue with the fans . They've lied about the finances. They arranged a loan at Wonga rates that the fans rearranged and now , only because of King's pressure are they going to release an " update" on the review. An update !! Let's see the list of investors that they have " in the wings " as they promised in December.....naebody !!!
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It's not effectively a loan just cause you say it is.

It's the removal of the main revenue stream. Which it has already been confirmed would affect the club's status as a going concern.

You have not referred to anything that states otherwise. You just saying it doesn't make it true.

Also gimme a break king forced them to release an update!

They always were. King just told blatant lies knowing the fans would lap it up and believe him. It's laughable.

Do you honestly think that the big evil board went up to king and said "here mate we aren't going to release our update as planned. But lease don't tell anyone."

The most obvious question is why is it taking 120 days to cut costs?

SPR, do you trust this board?

comment by timmy (U14278)
posted 36 minutes ago
The most obvious question is why is it taking 120 days to cut costs?
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They stated a timeframe to do a review that everyone agreed to at the time. If you are going to do it do it right and don't go off halfcocked.

Do I trust this board? Its been in place 4 months and hasn't been given a chance.

Let's see what state we are in and what their plan is.

I find that incredible to be honest. The Easdales are (allegedly) a bunch of crooks. Their interviews in the run up to the AGM have been half truth, spin and lies. The claims made at the AGM have not been backed up.

Why does it take 120 days to do a review that could be done in a much shorter time frame?

Why does it take a so called expert football man in Wallace so long and why does he need various consultants to do the job?

Why will they not announce the details if the sponsorship deal?

Why will they not confirm how much the club makes from the strip deal with Puma?

Why did they take out the dodgy loan when we apparently had sufficient funds and investors lined up?

Why the rush to collect season ticket money?

That's just the type of the iceberg. Now I'm not saying I trust King but how any Rangers fan could trust the current board astounds me.

comment by Bluetoonger (U5246)
posted 13 minutes ago
I find that incredible to be honest. The Easdales are (allegedly) a bunch of crooks. Their interviews in the run up to the AGM have been half truth, spin and lies. The claims made at the AGM have not been backed up.

Why does it take 120 days to do a review that could be done in a much shorter time frame?

Why does it take a so called expert football man in Wallace so long and why does he need various consultants to do the job?

Why will they not announce the details if the sponsorship deal?

Why will they not confirm how much the club makes from the strip deal with Puma?

Why did they take out the dodgy loan when we apparently had sufficient funds and investors lined up?

Why the rush to collect season ticket money?

That's just the type of the iceberg. Now I'm not saying I trust King but how any Rangers fan could trust the current board astounds me.
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The easdales are crooks? Why is the same benchmark not applied to king?

The easdales lie? They ain't even comparable to king in that department.

My thoughts on your questions
1. They want to do it properly. Can it be done in a shorter timeframe. How do you know? Have you looked at all the contracts? I am willing to bet it's a proper mess. Needs to be done right.

2. Same answer as above. Plus nobody thought the timeframe was out of order when announced. Even Murray co didn't questions that

3. Does every other club provide more detail than rangers have? I'm actually surprised they have secured a new sponsor with everything that's going on.

4 won't that depend on amounts sold? In the interim accounts retail and merchandise had vastly increased so they must be better deals than we had before. Folk on here were saying we get nothing. Those claims just look stupid now.

5. Going to guess here that they knew the needed interim finance until season tickets. Board members offered it so they took it without going out to market. Why didn't they go to the market? That should be obvious. Look at the reaction to everything they do no matter wether it's good or bad.

6 is there a rush? If there is is it perhaps to try and stop this insane fans plan that will severely and possibly irreparably damage by causing admin 2.

I clearly said I don't trust King so let's leave the whitabootery about King to another argument.

1. It shouldn't take 120 days, my life experience tells me that.

2. I complained at the time as did a number of fans, it was raised at the AGM as well as a complaint.

3. Celtic were not in afraid to announce how much they got paid from Nike, previous regimes announced the value of our deals. I'm always suspicious when deals are kept secretive when the headline figure could be announced.

4. Again a headline figure or baseline figure would do. The suggestion Mike Ashly gets a % cut of every strip sold has never been denied (nor confirmed) and it reeks of a long line of individuals lining pockets at the expense of fans.

5. Why do they need interim finance when in the run up to the AGM and at the AGM they said they had investors lined up and sufficient money to see us through to the end of the season. Funny that went Stockbridge and toxic jack got the bullet the reaction to that was positive so how is it everything they do is met with scorn.

6. There is a rush, my season ticket is now to be paid by August when previously it was November. The change in schedule is alarming to me. Can you not see why I would be concerned?

Furthermore the season ticket money on its own will not be enough to sustain us for a season. 1.5m down already before we start. On the face if it this board has done nothing to start cutting costs which could have been done pending the review.

Also the fact they are propped up by a hedge fund who have no interest in what is good for the club in a football sense should start alarm bells ringing.

This board will extort every penny it can from fans, it won't hesitate to sell the stadium and training ground. It will hawk away any assets it can all whilst lining their own pockets with the stench of the spivs who have pisjed away our working capital.

comment by Bluetoonger (U5246)
posted 2 hours, 4 minutes ago
I clearly said I don't trust King so let's leave the whitabootery about King to another argument.

1. It shouldn't take 120 days, my life experience tells me that.

2. I complained at the time as did a number of fans, it was raised at the AGM as well as a complaint.

3. Celtic were not in afraid to announce how much they got paid from Nike, previous regimes announced the value of our deals. I'm always suspicious when deals are kept secretive when the headline figure could be announced.

4. Again a headline figure or baseline figure would do. The suggestion Mike Ashly gets a % cut of every strip sold has never been denied (nor confirmed) and it reeks of a long line of individuals lining pockets at the expense of fans.

5. Why do they need interim finance when in the run up to the AGM and at the AGM they said they had investors lined up and sufficient money to see us through to the end of the season. Funny that went Stockbridge and toxic jack got the bullet the reaction to that was positive so how is it everything they do is met with scorn.

6. There is a rush, my season ticket is now to be paid by August when previously it was November. The change in schedule is alarming to me. Can you not see why I would be concerned?

Furthermore the season ticket money on its own will not be enough to sustain us for a season. 1.5m down already before we start. On the face if it this board has done nothing to start cutting costs which could have been done pending the review.

Also the fact they are propped up by a hedge fund who have no interest in what is good for the club in a football sense should start alarm bells ringing.

This board will extort every penny it can from fans, it won't hesitate to sell the stadium and training ground. It will hawk away any assets it can all whilst lining their own pockets with the stench of the spivs who have pisjed away our working capital.


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Great response bluetoon

phoenix

are you in the vanguard bears by any chance?