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Dave King Press Conference on Monday

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1 minute ago, ScotBear said:

Gerrard is not coming here to play with the sort of budget Pedro had. No chance he is putting his reputation at stake with the odds stacked so firmly against him, he knows there is a huge gap between ourselves and celtic to bridge and he knows no matter his reputation there will be limited time before patience wears thin.

It might not be revealed until closer to his start date being 1st June, but I'm convinced there is going to be substantial investment come in from an outside source. Who, what, when, why.....I have no idea. But I do not believe Gerrard takes the Rangers job without serious financial backing.

I agree, SG wouldn't risk his brand for peanuts.

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1 minute ago, psb07158 said:

The £6m will convert debt to equity so there won’t be any new cash into the club from that? 

There must be other money coming in, in the form of another share issue like @eskbankloyal says or Gerrard won’t have taken the job 

Fairly sure it's £6m on top of a debt tot equity conversion. 

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Didn't expect us to announce anything major but if there's no new investment they should have just kept their mouth shut. Such a feel good factor about the club the last few days and now this.

Why couldn't he have addressed the press last Friday?

Idiots

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There seems to be more people surprised by this "news" than not. King and co. have a history of anti-climatic clangers, why would this be any different?

There was another poster - not esk - on here the other day who said it was definitely happening, definitely money coming in, definitely some new faces (or something along those lines). Can't remember who, but he said it would be a few weeks yet. 

Anyway, as things stand, not a pot to piss in and that's the way it looks like it'll be for a while (certainly to us not ITK). 

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A total let down as some expected but king should have said nowt but saying £6M makes good business sense as why would we say we have 10s of millions only for selling clubs to hold us to ransom?

 

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29 minutes ago, eskbankloyal said:

It's been said numerous times that the first share issue will raise a small amount of cash but mostly be about converting debt then they plan to have a second one. 

 

It isn't a share issue,

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Just now, ClydebankBearWATP said:

So are we looking at being essentially debt free plus getting 6 million? 

Without knowing the detail (if it was mentioned in the presser) it's impossible to work out but I don't see them being able to convert all the debt whilst raising £6m. All depends on the price & number of shares being issued. 

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