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Whyte takeover almost completed


Ibroxblue

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The sun is full of shit on a daily basis and always comes up with some pish to print just before an old firm game, would like it to be true but wont believe it till the deal is done 100% so fingers crossed but like i said the sun is a waste of paper and ink. WATP

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From what I heard (A direct source from the sun), the takeover will be completed at the end of the season. There was a meeting between one of the sun's writers and Donald Muir on thursday afternoon where the financial position of the club was discussed. What was quite shocking is that we still owe a hefty figure for davis and *cringe* laugherty :disappointment:

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From what I heard (A direct source from the sun), the takeover will be completed at the end of the season. There was a meeting between one of the sun's writers on thursday afternoon where the financial position of the club was discussed. What was quite shocking is that we still owe a hefty figure for davis and *cringe* laugherty :disappointment:

I'm sure they're not the only players still to be paid for either.

Rangers aren't the only clubs to pay transfer fees over a year or two. In fact, I'd put my own money on that the majority of clubs do this.

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I'm sure they're not the only players still to be paid for either.

Rangers aren't the only clubs to pay transfer fees over a year or two. In fact, I'd put my own money on that the majority of clubs do this.

What worried me was that I was told (by the interviewer) that the club was 41m in the hole and the bank had a credit line of 35m. Muir is very much the saviour, rather than the enemy, within.

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What worried me was that I was told (by the interviewer) that the club was 41m in the hole and the bank had a credit line of 35m. Muir is very much the saviour, rather than the enemy, within.

I thought it was illegal to lie on accounts?

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I was talking to Donald the other night in Asda, he said we are in rude financial health and SDM will reign over us forever, I said surely you mean piss, he said no it is the Sun and the agents of rome, who are involved in that. :rolleyes:

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Very good point, Ill question that next time I see the guy. Do you know what the debt figure on the accounts is by the way?

Accounts are here:

http://www.rangerspedia.org/index.php/Accounts_-_2010

There is no disclosure of how much (if anything) we owe for Lafferty, Davis and others. But it is not a "hefty" amount. At the very most, it cannot be more than £2m and it is probably substantially less, perhaps closer to zero than to £2m. If Donald Muir said any different, he's at it. :)

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it was stated somewhere recently that our debt was 22m bank debt and 5m "others".the others probably being oustanding transfer fees.also stated the bank debt would be around 18/19m by the end of the season

£22m and £5m are the numbers from the Accounts at 30 June 2010. The £5m is (mostly) finance leases (HPs to you and me) and nothing to do with transfer fees. Transfer fees don't appear in "net debt" - any such transfer fees owed are always in addition to "net debt".

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At the agm it was stated (from memory) that all transfer fees have Been paid in full and that was how we intend doing business in the future. I believe they paid off final instalments for many transfers totalling around £7M.

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From what I heard (A direct source from the sun), the takeover will be completed at the end of the season. There was a meeting between one of the sun's writers and Donald Muir on thursday afternoon where the financial position of the club was discussed. What was quite shocking is that we still owe a hefty figure for davis and *cringe* laugherty :disappointment:

Thats not what AJ said, he said all past transfers were now paid for. According to our chairman the £8m we paid out last season, on past transfer feesm, was the last payments for Davis, Mendes, Edu and Lafferty.

Thats why the bank debt didnt decrease too much, most of our outlay went to past transfer fees.

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At the agm it was stated (from memory) that all transfer fees have Been paid in full and that was how we intend doing business in the future. I believe they paid off final instalments for many transfers totalling around £7M.

Didnt see your post before i posted, correct, we dont owe any club anything for anyone.

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