Dave King Press Conference on Monday

[cushynumber 25,178]

2 hours 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. 

 

You have indeed.

[OhW 4,669]

7 minutes ago, With Heart and Hand said:

A guy i know plays in a rock band, said they played a gig in a Uni bar a few years ago and the opening band was called "Free Beer", said the gig was mobbed until folk realised free beer was just the name of the band and it almost turned into a riot 

There was that burd in Magaluf who sucked off 20 guys to win a "holiday". Turned out it was a free cocktail called a "holiday".

[big blue Fin 3,724]

7 minutes ago, Creampuff said:

celtic signed Dembele, Sinclair, Rogic and Griffiths for combined less than £5m; yet folk on here would talk as though it’s impossible to improve a team with £6m...

Worryingly they do actually appear to have a scouting system which works, what do we have?

[big blue Fin 3,724]

Just now, OhW said:

There was that burd in Magaluf who sucked off 20 guys to win a "holiday". Turned out it was a free cocktail called a "holiday".

She was a slag and would have given them all a gobble anyway so no loss.

[KingKirk 25,631]

1 minute ago, Guardian said:

No danger of premature exclamation here ?

That's our lot. I sometimes wonder if anyone took any notice of our last figures. Some are expecting millions to appear as if by magic from those loss making accounts. Harry fucking Potter couldn't do that. 

Bizarrely after being let down by the non appearance of investment, some are now dreaming it is in hand or might appear later. 

Skint Rangers with Gerrard are better than skint Rangers without, but I don't expect the end result will change much. 

I can see no reason for optimism. 

Your gutted because you expected something big it was never ever gonna happen

[TheHammer_WATP 332]

1 minute ago, HG5 said:

Don’t call anybody else ‘stupid’ until you can tell the difference between a cash injection & regular income, like season ticket money.

1 - I didn't call anyone stupid, I asked a question if people are "genuinely fucking stupid." English, how does it work?

2 - I have no idea what you're getting at. It's quite fucking obvious what the difference is. 

I don't know how many times it needs to be stated that there can be NO CASH INJECTION FROM ANYONE OTHER THAN SOFT LOANS BY DIRECTORS AT THIS PRESENT TIME.

People expecting otherwise only have themselves to blame for getting worked up and annoyed. It's the equivalent of standing yelling at the sky.

Short of someone coming in and buying the club just to spunk money on us, it can't happen until the CoS stuff is sorted out at the absolute minimum.

[Creampuff 22,628]

2 minutes ago, DBBTB said:

They also signed Ntcham for 4.5 million and if they decide to sign Edouard he’ll cost them a reported 7 million.

You can undoubtedly improve a squad with 6 million, but nowhere close to the level that we need improved to.

If you assume that the McGregor and Arfield deals go through; then also that we reinvest anything that comes from player sales then I don’t think it’s far off. 

To an extent I understand it, but I think our fans are becoming obsessed with this notion that we need to spend a lot of money on transfer fees; almost to the extent that cost is the priority over talent.

[Beaujolais 1,371]

14 minutes ago, TheHammer_WATP said:

That's like...uhhh... basically what he could end up with.

Why are people reading the £6 million as being the "War Chest" for next season? 

Am I missing something or are people just genuinely fucking stupid?

I very much hope you are correct and I am indeed fucking stupid. But King has been in charge for a number of seasons now and during that time I have seen no actual investment I.e. hard cash going into the Club from sources other than season tickets or loans. I would applaud King whole heartedly if he does inject £25 million into the Club, which is close to the amount he was talking off when he was in the midst of his takeover campaign. 

[Guardian 4,281]

6 minutes ago, KingKirk said:

unreal mate

Do u believe he has come here with no assurance?

An assurance of what tho? 

Dave King got in on making assurances ?

Do you know any players we can buy with assurances. 

You make a valid point tho.... So what happens when he realises there isn't a lot of cash? 

Another train wreck ensues. 

[TMB 14,167]

1 minute ago, DBBTB said:

They also signed Ntcham for 4.5 million and if they decide to sign Edouard he’ll cost them a reported 7 million.

You can undoubtedly improve a squad with 6 million, but nowhere close to the level that we need improved to.

I think celtic will be looking to go after Roberts on a permanent deal as well.  Roberts wont break in to that Man City team and when they do decide to move him on they'll be moving to get him up here permanently.  With only a few years left on his contract I would expect them to be paying less than half that reported £12m City paid a few years back.  

[KingKirk 25,631]

Just now, Guardian said:

An assurance of what tho? 

Dave King got in on making assurances ?

Do you know any players we can buy with assurances. 

You make a valid point tho.... So what happens when he realises there isn't a lot of cash? 

Another train wreck ensues. 

So you think Gerrard is a thick cunt? He wouldn't be here if he wasn't getting major funds. Hes no just signed for 4years without looking into every aspect of the club first.

[born a blue nose 90,754]

Who gives a fuck about the fenian bastards leave them out of this thread. Fuck me we sound more n more like that mob daily

[Potdog 228]

[backup 4,724]

https://stv.tv/amp/1414365-dave-king-share-issue-to-provide-Rangers-with-6m/?utm_source=dlvr.it&utm_medium=twitter&__twitter_impression=true

 

Dave King: Share issue to provide Rangers with £6m

Raman Bhardwaj

7 May 2018

Daryn MacRae

7 May 2018

The Ibrox chairman said no external investment is currently in the pipeline.

Dave King said he doesn't expect external investment in Rangers.  SNS

Rangers chairman Dave King has said he expects £6m to be made available to the club via a share issue next month.

However, the South African businessman said no external investment is currently in the pipeline.

A new share issue is to take place at Ibrox as the club look to raise further funds.

Asked how much fresh cash will be made available as a result, King said: "We haven't decided, but at the moment I am thinking about £6m new cash in the balance converted to loans."

King was unwilling to place a figure on the transfer budget that will be made available to Gerrard as the Liverpool legend looks to reshape the Light Blues squad.

 

He added: "We don't put figures on that because we can't.

"We have given a commitment that we will continue to invest in the squad, and will be a net investor.

"We will provide additional net funds to him.

"He will sit down with Mark (Allen) and determine that.

He added: "I think Steven and Mark will tell us that because it depends on how many of the players Steven wants to keep.

"We haven't even discussed it.

"It's not something he would discuss with me, he would discuss that with Mark and then they would come back to the board.

"They will have to figure that out and then come back and say 'this is our player plan'.

"Right now, we don't have a player plan because Steven hasn't really looked at it."

At this stage, there is nothing external other than existing shareholders and investors.

Dave King on potential outsider investment in Rangers

Asked if external investment was likely to boost Gerrard's work at Ibrox, King said: "At this stage, there is nothing external other than existing shareholders and investors.

"We're not talking to anyone new who is not there already."

In February, King lost an appeal against a court ruling forcing him to offer £11m for the club's remaining shares.

 

At a media briefing on Monday, King was pressed as to why he hasn't completed the legally binding process.

He said: "About four weeks ago now, it got to a point where I agreed with the takeover panel that while I wouldn't make a formal offer, one of my trust companies would make a formal offer.

"The takeover panel would accept the company offer as being from me personally, as they know that I would never make an offer.

"They accepted that, they asked for proof of funds which we gave them.

"They then asked for the funds to be ring fenced in a separate account, to make sure the funds could only be used for the purpose of the shares.

"We agreed to that.

"Then about two weeks ago, the takeover panel approached me again to say they were unhappy with the funds being in South Africa and would like them relocated to the UK to be held in sterling.

"I was happy to do that, but would have to open a bank account in the UK which I agreed to do.

"That, though, requires an extension of the period as I can't get through the various processes in time to meet the deadline.

"They didn't grant the extension.

"They have proof of funds in South Africa, but they wanted it relocated to the UK and that takes time, hence delay.

He added: "It is important to stress that this is nothing to do with the football club, it makes no difference to the football club.

"This is an issue between myself and the shareholders of the holding company.

"It has nothing to do with the team and with funding."

[Jimfanciesthedude 24,540]

How many times are people going to use ST money and retail money as part of the transfer budget, do they not fucking realise we have regular bills to pay

 

[Guardian 4,281]

3 minutes ago, KingKirk said:

Your gutted because you expected something big it was never ever gonna happen

You are correct. I thought there was a chance for Rangers to compete again. 

Silly me. 

Due to the pain this is causing me, I think I will now simply join the mass delusion that 6m and change will turn that shambles of a team into winners. 

For his next trick Gerrard will walk across the Clyde. 

I dunno why I'm bothering as it seems all is now rosy in the garden. 

Today just gave them 8 in a row. At this rate folk might realise we need more just after they get 9. I predict more will be agreeing with me by then, but that'll be too late. 

We get the team we settle for. 

 

[Guardian 4,281]

6 minutes ago, KingKirk said:

So you think Gerrard is a thick cunt? He wouldn't be here if he wasn't getting major funds. Hes no just signed for 4years without looking into every aspect of the club first.

Are we all thick cunts?  We shelled for that shower of shit we just endured. 

You've just been told there is little money and yet still expect it to appear. 

I dunno what bit of Kings statement you aren't getting. I know he's a liar but I doubt he was lying about that. 

[KingKirk 25,631]

2 minutes ago, Guardian said:

You are correct. I thought there was a chance for Rangers to compete again. 

Silly me. 

Due to the pain this is causing me, I think I will now simply join the mass delusion that 6m and change will turn that shambles of a team into winners. 

For his next trick Gerrard will walk across the Clyde. 

I dunno why I'm bothering as it seems all is now rosy in the garden. 

Today just gave them 8 in a row. At this rate folk might realise we need more just after they get 9. I predict more will be agreeing with me by then, but that'll be too late. 

We get the team we settle for. 

 

Have you read dk interview he states no number is put on budgets for the summer because "we can't" that's down to Gerrard and mark to decide what needs done.

Nothing like pure skint Rangers your trying to push

[KingKirk 25,631]

2 minutes ago, Guardian said:

Are we all thick cunts?  We shelled for that shower of shit we just endured. 

You've just been told there is little money and yet still expect it to appear. 

I dunno what bit of Kings statement you aren't getting. I know he's a liar but I doubt he was lying about that. 

I have not been told fuck all neither have you if your gonna lie make it believable ffs

[born a blue nose 90,754]

Admin 4 awaits 

[AM1872 92]

1 hour ago, born a blue nose said:

You want to put a bid in for us then Billy big dinner 

That would cost £110m if ou do the maths. 

£50m to buy existing shareholders out once loans converted and the n you still need £50m of new money to properly fund the club afterwards. A bid is much harder than fresh investment in as Dave King has found out much to his dismay.

[eskbankloyal 19,446]

9 minutes ago, Jimbeamjunior said:

How many times are people going to use ST money and retail money as part of the transfer budget, do they not fucking realise we have regular bills to pay

 

They do help from a cashflow perspective though. 

[AM1872 92]

Have to be honest. I don't think Paul Murray such an idiot now.

[ForeverAndEver 71,458]

1 hour ago, Goosetav said:

@ForeverAndEver yer pal's back x

Thought it for a while ?

Sure @BridgeIsBlue called it right at the start 

[born a blue nose 90,754]

3 minutes ago, AM1872 said:

That would cost £110m if ou do the maths. 

£50m to buy existing shareholders out once loans converted and the n you still need £50m of new money to properly fund the club afterwards. A bid is much harder than fresh investment in as Dave King has found out much to his dismay.

You're a complete rocket