Chairman's Update

[sandyinroyalblue 16,478]

7 minutes ago, Gman36 said:

I was sceptical of DK at first, but he's slowly but surely winning me over. Seems like himself and the others involved at the top of the club have the clubs best interests at heart.

Small steps but the confidence is building back up, and a long term viable future seems to be developing. 

Good post,we have to judge King on his merits or failures and so far it's mainly been positive.

[KingKirk 25,607]

Great read fantastic to hear about our investment off the park we're on the march people

[We Will Follow Rangers 12,917]

Things are going very well for us both on and off the pitch and its been a long time since that was the case and enormous credit is due to the board for that.

Anyone, with just a casual glance at what awaits us in the premier league can see that millions of pounds of spending doesn't guarantee you anything, I like the way we go about our business, the mob across the city seem to have went for a throw shit at a wall and see what sticks approach to transfers , spent millions and are struggling to fend of the sheep who have spent fuck all. Spending wads of cash on dross just to appease is a fools mission and we should learn from that.

If we can bring in 2-3 players of even reasonable quality we'll be in good shape to take that mob on.

[siddiqi_drinker 14,635]

1 hour ago, TheLawMan said:

 

1 hour ago, eskbankloyal said:

"A further unanticipated investment was made to pay off the Sports Direct loan and to recover all security held by Sports Direct. That has now been completed and the Club has formally given notice to end the relationship with Sports Direct while still reserving our right to proceed with challenges to the existing suite of contracts and side agreements in a court of law"

 

 

Did someone not predict exactly this as well as the outcome e of the out case quite recently?  

 

Edit not sure how I ended up with double quotes

[TheLawMan 6,240]

5 minutes ago, siddiqi_drinker said:

 

Did someone not predict exactly this as well as the outcome e of the out case quite recently?  

 

Edit not sure how I ended up with double quotes

Not sure if predict is the right word, however I stated on many occasion, only to be slated by the usual mob that announcing to shareholders that we were serving notice, without going into any detail would:

a)  Not be a breach of confidentiality agreement.

b)  Would not harm our chances of taking court action against the contract. (it was claimed handing in notice was acceptance of the contract)

My predictions appear to be getting closer by the day but still a bit to go on that front.

[plumbGER 24,518]

Aye but we're pyoor skint,nae chance against the mullyinaires next season.

[Pure_Quality 3,295]

19 minutes ago, TheLawMan said:

Not sure if predict is the right word, however I stated on many occasion, only to be slated by the usual mob that announcing to shareholders that we were serving notice, without going into any detail would:

a)  Not be a breach of confidentiality agreement.

b)  Would not harm our chances of taking court action against the contract. (it was claimed handing in notice was acceptance of the contract)

My predictions appear to be getting closer by the day but still a bit to go on that front.

Completely coincidental that the day after parts of the gagging order were lifted by the judge, we announce notice has been served then you think?

Seems a pretty naive viewpoint, but the main thing is that it's out in the open now so happy days.

[Big Al 55 9,241]

16 minutes ago, Pure_Quality said:

Completely coincidental that the day after parts of the gagging order were lifted by the judge, we announce notice has been served then you think?

That would be how I would see it...were parts of the gagging order actually lifted?

[GersInCanada 7,775]

Everything in the gagging order that has leaked into the public domain has no restrictions.

[TheLawMan 6,240]

4 minutes ago, Big Al II said:

That would be how I would see it...were parts of the gagging order actually lifted?

I dont find it coincidental at all.  I believe we have served it today or yesterday.   And even if we served it earlier, nothing was stopping the confirmation to shareholders.   Even the judge agrees with that.

I stand by my assertion and note with interest you havent acknowledged the other one that the gang argued against also in relation to validating the contract. 

[Pure_Quality 3,295]

6 minutes ago, Big Al II said:

That would be how I would see it...were parts of the gagging order actually lifted?

Yep, anything 'in the public domain' can now be talked about. Previously we couldn't even comment on the existence of meetings being held to discuss the deal - that's how restrictive it was!

Doubt it's coincidental it's been released the next day from that judgement, and actually doubt we know when it was handed in because of the previous restrictions, but the main thing is that it's done.

 

[TheLawMan 6,240]

Just now, Pure_Quality said:

the main thing is that it's done.

 

On that at least we can agree. 

[BlueboyG 5,229]

It's great to see as a club that things are getting better by the week, strong squad of players, business matters being cleared up one by one and happy supporters considering what we've been through over the last 3 years or so, keep it going board, your doing well so far.

[one55 1,510]

sounding positive. glad to hear the Sports Direct have been dealt with and been told we're getting rid of them. Can't wait for the day where Ibrox is restored to it's former glory and that includes having the eye sore Sports Direct logo around the stands removed.

have to give it to dave king. i admit i wasn't sure of him but along with the rest of the board they really have turned our club around. so, thank you!

let's get out his league go after that mob in the east. 

[Jack The Flipper 5,936]

3 hours ago, TheBluebells said:

Might not be the most important issue but I'm delighted to read this.

 

'There has also been necessary investment into the infrastructure and facilities at Ibrox. The stadium and its surrounds were severely neglected by prior Boards that were intent on massive cost-cutting measures. Further significant investment is required at Ibrox and the board is presently considering a programme of work to ensure that it is returned to its status as one of the best and most iconic stadiums in Britain. Given the scale of what is required this will take some time to complete.'

 

Ibrox is a beautiful stadium, looking forward to seeing where they go with this.

No, in the world...

 

[gogzy 31,195]

3 hours ago, eskbankloyal said:

"A further unanticipated investment was made to pay off the Sports Direct loan and to recover all security held by Sports Direct. That has now been completed and the Club has formally given notice to end the relationship with Sports Direct while still reserving our right to proceed with challenges to the existing suite of contracts and side agreements in a court of law"

 

 

 

[mabawsa 888]

46 minutes ago, Jack The Flipper said:

No, in the world...

 

No, in the whole widest Universe and beyond ..to infinity, to clear 

[Brubear 2,905]

2 hours ago, Big Al II said:

No idea if there is legal precedent or not. Perhaps if we can prove it was so one sided then a judge could rule to rip it up.

Basically you need to prove to the court that the contract is so detrimental to the business that the directors were negligent in entering the contract, and/or you can prove they had a conflict of interest which led them to enter a contract which was not in the best interest of the business. The fact it is a 7 year notice period would be one pointer to not be in the best interest of Rangers, especially if the other party can terminate at a much shorter notice period, not sure if that is the case.

On the negative side SD can argue that Rangers were in such need for cash that Ashley's offer to loan them £5m was enough to swing the deal negotiation way in SD favour and hence the favourable terms. No doubt lawyers are all over it.

 

[JWAC 2,234]

3 hours ago, siddiqi_drinker said:

 

Did someone not predict exactly this as well as the outcome e of the out case quite recently?  

 

Edit not sure how I ended up with double quotes

DK said a long time ago, after the consortium won control over the boardroom that they'd be looking at all the contracts and challenging them if possible.

I think many believed what they said at the time and most accepted things were happening behind closed doors (most of which legally they couldn't tell us). 

It seems TLM is taking credit for something already accepted by many.

[Dutchy 1,200]

I think that was a good enough statement. We probably know most of it anyway, but what seemed new to me was the attempts to renew the contract with SD, and not new but still on the agenda, getting the fans groups united.

I like the idea of transparency, yes, but the less we hear from the board on a daily basis also sounds good to me. It reminds me of the days when the board never seemed to be that important to the game of football and all these rich owners spoiled it by making constant pronouncements.

a return to simplicity would be great.

[IanFerguson2013 396]

It's going to be interesting to see how we get ourselves out of the 7 year termination period with Ashley's Sport Direct. It's not impossible but going to be hard. The board should request fans not buy anything next season to try to get Ashley to see sense and cancel the agreement or at least give us more than 4p in the pound.

[Reformation Bear 6,453]

It's a positive and welcome update - no doubt about that.

2 points that might be worth keeping an eye on though.

1.  "The Board continues to ensure that the Club is run within the balance required to secure success on the pitch while simultaneously funding the cash shortfall that is required until we have a sustainable business model."  No mention of when they aim to have achieved this and what they mean by 'sustainable'.   No mention of what further investment might be sought and when.  No mention of when how share trading can be improved.    The implication in the statement is we still do not have a sustainable business model which therefore remains a source of concern.   But just how concerned we should be is another matter altogether.

2.  It's what is not said in the update.    eg confirmation of enough funds to get through the close season before new ST sales flow in. 

It's not looking to put a negative slant on what was a positive update.   Its just about keeping a weather eye open for the detail and for the unsaid which - in fairness - might be matters where there is nothing more to say at this time.

[Bobby Hume 12,993]

4 minutes ago, Reformation Bear said:

It's a positive and welcome update - no doubt about that.

2 points that might be worth keeping an eye on though.

1.  "The Board continues to ensure that the Club is run within the balance required to secure success on the pitch while simultaneously funding the cash shortfall that is required until we have a sustainable business model."  No mention of when they aim to have achieved this and what they mean by 'sustainable'.   No mention of what further investment might be sought and when.  No mention of when how share trading can be improved.    The implication in the statement is we still do not have a sustainable business model which therefore remains a source of concern.   But just how concerned we should be is another matter altogether.

2.  It's what is not said in the update.    eg confirmation of enough funds to get through the close season before new ST sales flow in. 

It's not looking to put a negative slant on what was a positive update.   Its just about keeping a weather eye open for the detail and for the unsaid which - in fairness - might be matters where there is nothing more to say at this time.

Good points all the same RB, and it is wise to be cautious when there is still much to be wary of.

Otherwise it was a fairly positive update on the back of the wins in the courtroom.

Still, there is more work to be done before we are out of the woods and have a serious working model to move forward with.

 

[Courtyard Bear 41,357]

5 hours ago, Templebear said:

Do we need to know that just now

 

Surprised there are bits you don't like

Yes we do.

When he talks about the state of the stadium the first thing he should do is personally apologise along with his pal mini, they started the underspend. 

[DMax399 3,689]

Another positive step in the right direction.