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weeneily last won the day on October 29 2015

weeneily had the most liked content!

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About weeneily

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  1. weeneily

    JD Sports to become official retail partner

    I know that they are definitely going with a retail partner which will be decided by end of July as they are considering a few and I'm sure JD will be in the mix. But they will be relying on the chosen partner to start the IP carrying product process as no supplier may start sampling until that time due to SD having exclusive license rights until that time which is bit of a pain as it takes time to get approval for products considering all the dye and fire retardation certification etc to allow products onto the market. The retail partner will control all aspects of the supply chain so they will have to move quickly to get kits out in any volume within a month or two of the deal being arranged. That's not to say someone hasn't been tipped the wink in advance of course although the commercial department are adamant that no decision has yet been made.
  2. weeneily

    JD Sports to become official retail partner

    One of our firm's specialist areas is retail turnaround and restructure. Looking at typical clients the retail cost/profit structure per £100 income is as follows : sales £100 vat man gets £16.67 supplier gets £40 (retail standard is sales = 2.5 x cost price) shop overheads and wages etc £33.33 (typically a third of turnover) balance left for shop after costs £10.00 or 10p per £1 of sales. This is fine if the directors/shareholders have their salaries covered and get a 10p per £1 dividend but it is insignificant if the retail operation is expected to contribute the meagre surplus to a football club. They real way to make income from sale of products is license income from 3rd party sales, not from running your own retail activity.
  3. weeneily

    New kit delay ?

    All supply chain matters will be the decision of the chosen retail partner and at the moment the Club does not have the in house structure set up to source all the branded products required to stock even the Megastore and online shop.
  4. weeneily

    New kit delay ?

    I think the challenge is the fact that the chosen retail partner (who has not been decided yet) does not have access to the Club IP to start the process of product development until they are awarded the contract. Kits are the main thing but there is all the other branded product to be developed and sourced.
  5. weeneily

    New kit delay ?

    The problem is they don't have a retail partner to handle the development and logistics supply of all licensed products and anticipate it will be early August before a deal is done. The last thing they want is to have to announce a new deal with SD.
  6. weeneily

    New kit delay ?

    They have no retail distribution deal in place yet. Can't even start negotiations until end of July. No supply deals for IP carrying product can commence until then either because whatever distributor is chosen will have a say in what licensed products they sell and who makes it.
  7. weeneily

    Dave King Press Conference on Monday

    It's a situation much like Arnold schwarzenegger and devito in Twins as far as the funding is concerned.
  8. weeneily

    Major investment?

    His were harsher. I've not stopped greeting since I read his insult.
  9. weeneily

    Major investment?

    Are you serious "STEPPS FAG" or was that the drink talking last night?
  10. weeneily

    Paul Murray still leaking 2 Daily Retard

    I take your point and agree that dangerous may not be the best word to use. My main point was that the board loans are not something to be concerned about. The concern with the Close Bros loan is that it comes with the authority to appoint an administrator or take possession of assets it is secured against in case of default but I'm sure they will always be top of the list of creditors to be paid.
  11. weeneily

    Paul Murray still leaking 2 Daily Retard

    If you look at the last accounts (to June 2017) you will see that at that time the loans balance was £15.9 million and of this £12.9million is repayable in July 2018 and £3.0 million is repayable on December 2018. Until these dates the lenders can do nothing. If they were to demand payment they have no automatic right to appoint an administrator because the loans are not secured. They would have to petition the court and this would be problematic as they are also running the company so a court would probably refuse to protect the other creditors. Also, King guaranteed to continue funding (as stated in the going concern part of the accounts) so he cannot refuse to provide funds in the event of ongoing cash flow shortfall which would in itself be a reason for the board to enter administration as it is illegal to trade insolvently. The dangerous creditor is Close Bros for their £3.0m loan as it IS secured and they therefore have the right to appoint an administrator without leave of court in the event of default.
  12. weeneily

    Paul Murray still leaking 2 Daily Retard

    The pre emption rights removal resolution 11 was passed. A convertible loan is a convertible loan and has an arithmetic conversion matrix at the time it is created so that the conversion factor is known from the time it is raised (how many shares per £1 of loan). It is shown as convertible loan stock within the liabilities of the balance sheet. These loans are simple loans (which had specific repayment dates at time of creation) and are declared as normal loan debt within the liabilities of the RIFC Plc accounts that your Mr King signed off. Please refer to them for your proof. Hope this helps.
  13. weeneily

    Steven Gerrard MBE - New Manager

    The talks followed on from initial discussions held in recent weeks with Gerrard, his representatives and Rangers managing director Stewart Robertson and director of football Mark Allen. Gerrard has been seeking assurances on the size and scale of his transfer budget and it’s believed his decision has been based upon the promise of fresh investment. Rangers chairman Dave King has offered guarantees of the sums available to mount a credible challenge to celtic - and Gerrard has intimated he’s up for the challenge.
  14. weeneily

    Paul Murray still leaking 2 Daily Retard

    You are wrong. The loans are simple loans they are not convertible loans as is stated clearly in the accounts.
  15. weeneily

    Gerrard agrees terms - unconfirmed

    Some folk in the legal profession were today saying that they believed that Gerrard (along with others including Robbie Fowler and other wealthy individuals) will become owner / manager shortly after buying out King. Probably shit but Gerrard is known for being a shrewd individual.