cushynumber 25,178 Posted February 24, 2014 Share Posted February 24, 2014 I know its old ground, but 13 months after having £24million in the bank, that we are resorting to this is fucking mind blowing. Quote Link to post Share on other sites More sharing options...
Kai66 8 Posted February 24, 2014 Share Posted February 24, 2014 This is not the fault of the present board, how some folk will not ask questions of the previous fucking shambles is beyond me. This is an absolute disgrace to be here 2 years after all that's gone on.this had better be sorted and sorted properly this time. Not only has the footballing philosophy stayed the same, the careless financial overspends have too. I cant believe we own Ed house we would have been as well buying ed the duckThis. Edmiston House is a dump. The Air Conditioning is absolutely appalling and the building is sweltering in summer yet we have paid a substantial sum to buy it off Minty but so far seem to have no plans as to what to do with it. It was a white elephant when it was the big Rangers Social Club and it is no different now. Quote Link to post Share on other sites More sharing options...
Big Al 55 9,241 Posted February 24, 2014 Share Posted February 24, 2014 Because there is uncertainty about our future.There are forces looking to bust us if necessary to get their noses in the trough.They will stoop to any low.Sadly some on here would like to see them do it.They make it difficult to gain any investment.Part of their strategy.Celtic men I would call them.Really...there's uncertainty about our future? Surely that would be an incredible example of gross mis-management from the previous incumbents? You would think people on here would be quick to criticise wouldn't you! You are unfortunately correct, the only reason assets are used as security on the loan to be repaid in shares is to cover for the fact the shares may become worthless, otherwise there would be no need would there! Quote Link to post Share on other sites More sharing options...
blue No11 235 Posted February 24, 2014 Share Posted February 24, 2014 So this pretty much spells out that Laxey and the Rangers loving Easdales will never put money into Rangers without wanting it back ? Quote Link to post Share on other sites More sharing options...
TAFKA 545 Posted February 24, 2014 Share Posted February 24, 2014 Just to be crystal clear, this is an "up to" facility. Only what is needed will be used and repaid. It's like having an overdraft "up to" £1000 but only using £300 of it. Interest will only be charged on what is used. Having said that, I think the interest rate is a joke. Less bothered about the security as that's standard. You're wrong.No interest will be charged but an arrangement of 15pc WILL be charged even if the facilty is not used -the total to be repaid will be £1,650,000 if we borrow all of it - anyone wanting to bet we need it all? Quote Link to post Share on other sites More sharing options...
The Godfather 71,659 Posted February 24, 2014 Share Posted February 24, 2014 So this pretty much spells out that Laxey and the Rangers loving Easdales will never put money into Rangers without wanting it back ?We would be very hard pushed to find 'anyone' willing to put money into the club without expecting or wanting it back. Quote Link to post Share on other sites More sharing options...
Carson's cat 744 Posted February 24, 2014 Share Posted February 24, 2014 Has nobody else noriced that 15% interest on a loan that has to be repaid in 6 months is equivalent to an annual rate of 30%. Does anyone know what Wonga charge? Quote Link to post Share on other sites More sharing options...
stfu 596 Posted February 24, 2014 Share Posted February 24, 2014 Yeah just re-read that. The loans secured against 2 assets. Doesn't make it any less worrying....And this is the problem the rest of us have.The fans that do not understand even basic financial terms start to scaremonger.And yet they want to be taken seriously. Quote Link to post Share on other sites More sharing options...
blue No11 235 Posted February 24, 2014 Share Posted February 24, 2014 We would be very hard pushed to find 'anyone' willing to put money into the club without expecting or wanting it back. Your unfortunately correct! Quote Link to post Share on other sites More sharing options...
topgoalie 637 Posted February 24, 2014 Share Posted February 24, 2014 No you are wrong it's an investment. When you pay money and get shares that is definitely an investment but you rebs just keep spinning in pedantry.I was waiting on the rebs part,waken up and smell lthe fckn grassIts not a point scoring excercise.... Quote Link to post Share on other sites More sharing options...
mitre_mouldmaster 21,509 Posted February 24, 2014 Share Posted February 24, 2014 Just to be crystal clear, this is an "up to" facility. Only what is needed will be used and repaid.It's like having an overdraft "up to" £1000 but only using £300 of it. Interest will only be charged on what is used. Having said that, I think the interest rate is a joke. Less bothered about the security as that's standard. Not sure we have the information available to categorically state this one way or the other.The way I read it, they will be getting the fee on the basis of the potential value of the facility rather than the value used. Product fees are usually flat rate, non variable. Quote Link to post Share on other sites More sharing options...
Big Al 55 9,241 Posted February 24, 2014 Share Posted February 24, 2014 Has nobody else noriced that 15% interest on a loan that has to be repaid in 6 months is equivalent to an annual rate of 30%. Does anyone know what Wonga charge?Between 4000-5000% representative APR! Quote Link to post Share on other sites More sharing options...
TAFKA 545 Posted February 24, 2014 Share Posted February 24, 2014 Has nobody else noriced that 15% interest on a loan that has to be repaid in 6 months is equivalent to an annual rate of 30%. Does anyone know what Wonga charge?It is not interest, it is an arrangement fee.We pay 150,000 as a fee even we only use, say 300k, of the Laxey portion. In such circumstances, that would equate to 100pc if viewed as an interest rate.Anyone got the Co-Op Bank's number? Quote Link to post Share on other sites More sharing options...
BarrhillLoyal 32 Posted February 24, 2014 Share Posted February 24, 2014 Well so much for the shite we got in the papers last week of interest free loans. Not repayable in cash but in shares, blah blah.Irvine is a lying bastard, the papers print anything he tells them without any checking. Shower of parrots.Interesting that the Easedales fee is not quantified.What alarms me most is our own fucking directors don't trust the future enough to give us loans without security against our own assets.Makes me really wonder just how superb a businessman our new CEO really is.Have already asked before if Wallace was so great just why was he unemployed for 10 months between leaving Man City and joining us? Quote Link to post Share on other sites More sharing options...
blue No11 235 Posted February 24, 2014 Share Posted February 24, 2014 Dave King your the Rangers Man with all the dosh... Come on how long before you make your move and kick these Diddy Directors that are here to make money at the clubs expense. How long eh... Make your move and im sure the supporters will be right behind you making a noise.... Im sick of reading this crap for two years now... King kick them all in the plums ! Quote Link to post Share on other sites More sharing options...
MayboleLoyal_atb 3,676 Posted February 24, 2014 Share Posted February 24, 2014 Why do some on here think people concerned by takeing a 1.5 million loan out are automatically rebels? Quote Link to post Share on other sites More sharing options...
cushynumber 25,178 Posted February 24, 2014 Share Posted February 24, 2014 Dave King your the Rangers Man with all the dosh... Come on how long before you make your move and kick these Diddy Directors that are here to make money at the clubs expense. How long eh... Make your move and im sure the supporters will be right behind you making a noise.... Im sick of reading this crap for two years now... King kick them all in the plums !?? this move is probably to stop King coming in and diluting the existing shares. Dont hold your breath. Quote Link to post Share on other sites More sharing options...
KeyserSoze 14,514 Posted February 24, 2014 Share Posted February 24, 2014 Dave King your the Rangers Man with all the dosh... Come on how long before you make your move and kick these Diddy Directors that are here to make money at the clubs expense. How long eh... Make your move and im sure the supporters will be right behind you making a noise.... Im sick of reading this crap for two years now... King kick them all in the plums !I am not sure he will read that tbh..... And are you sick of DK's crap for two years or what? Quote Link to post Share on other sites More sharing options...
OlegKuznetsov 10,816 Posted February 24, 2014 Share Posted February 24, 2014 If it was part of the business plan, what would it have been used for other than general working capital purchases? I had hoped that it was for the scouting network or to pay off unwanted overpaid players. Quote Link to post Share on other sites More sharing options...
themoodybloo 77 Posted February 24, 2014 Share Posted February 24, 2014 My OP doesn't claim I found a lie. There was a question mark at the end of my sentence in my OP. If I was exposing or claiming I found a lie that'd of went more along the lines of"OH MY GOD THE FUCKING BOARD LIED TO US THOSE SCUMMY SPIV TWATS!"Do you post on FF....? just askin like. Quote Link to post Share on other sites More sharing options...
scott12003 710 Posted February 24, 2014 Share Posted February 24, 2014 So basically the board can run the club however they like and if the fans don't like it and withhold season ticket money they pick up millions in assets for half a million at most.Fans getting taken for a ride here. Quote Link to post Share on other sites More sharing options...
Marco Negri's Beard 1,423 Posted February 24, 2014 Share Posted February 24, 2014 Why do some on here think people concerned by takeing a 1.5 million loan out are automatically rebels?Agree with this. Some people might not state their opinion that well, but the fact that some will have a go at anyone angry or disappointed that we have to take out this loan is rather sad. Quote Link to post Share on other sites More sharing options...
A.T.G 10,773 Posted February 24, 2014 Share Posted February 24, 2014 Rangers Fan base:Don't give up or stop posting mate, I know it seems like you batter your head against a brick wall as some can see no wrong when it comes to those who run us (see pre Feb 2012 especially).I understand your concerns but they are not worrh posting in the BDI wouldn't necessarily criticize the board for this move, I would actually find this bit of business encouraging because Easedale and others are providing the help ans finance we need because of the money we have thrown away in the past 2 years, althought it is a disgrace it has come to this at least Wallace and Easedale appear to be trying to turn this mess around I think we'll be just fine with Wallace at the helm Quote Link to post Share on other sites More sharing options...
blue No11 235 Posted February 24, 2014 Share Posted February 24, 2014 So basically the board can run the club however they like and if the fans don't like it and withhold season ticket money they pick up millions in assets for half a million at most.Fans getting taken for a ride here. Your spot on ! The true colours have been shown. All the talk of the easdales putting money in out there own pocket... Aye with a return ! Quote Link to post Share on other sites More sharing options...
mitre_mouldmaster 21,509 Posted February 24, 2014 Share Posted February 24, 2014 Your OP claims you have found a lie.It was said months ago that we had access to a £2.5m credit facility. We have taken advantage of £1.5m of that facility. That's not a crisis loan in my book.It was said months ago we had access to a £2.5m UNSECURED credit facility.This facility is secured against the Albion and Ed House, so dont think it is correct to assume it is the same deal. Quote Link to post Share on other sites More sharing options...
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