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Zappa

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Everything posted by Zappa

  1. I really hope you're right, but I'd like to know for sure and think that Wallace should be asked about the £2.5m facility as soon as possible.
  2. The £2.5m credit/loan facility has already been disclosed in the accounts which were released at the end of September and was also clearly stated at the AGM, although AFAIK the exact details of the facility were ever revealed. I don't think that actually using that £2.5m facility would require an announcement, but if I'm wrong and it hasn't been used and isn't going to be used to see out the season, then great. It certainly wouldn't suprise me in the slightest though, if the Stockbridge prediction of '£1m left by April' was actually taking into account using that £2.5m credit facility and the reason we're now seeing an additional credit facility being put in place is because the £2.5m facility wasn't going to be enough. I do sincerely hope that I'm wrong though and I hope that someone asks Graham Wallace or this chap Nash about all this in detail because accruing debts of £4m + fees to see out this season would not be good at all.
  3. Voicing valid concerns and asking important questions like are we using or have we used the other £2.5m credit facility doesn't paint a negative picture of the situation, it suggests that there might actually be a more negative picture which we haven't been made fully aware of yet. I'd just like to hear the absolute truth and cold hard facts for a change, no matter how uncomfortable it might be. The time for rosy pictures and moonbeams passed long ago. It's time to hear the harsh realities facing the Club so that we can try to meet them head-on and deal with them.
  4. I think this is an excellent point, but it would be a lot more acceptable if the facility providers didn't have people sitting in our boardrooms where they are in a position to effect the voting on these decisions, so it raises questions about the likes of Norman Crighton, his affiliation to Laxey and his suitability to be chairing an 'Investment Committee'.
  5. The announcements wouldn't have been made today unless the paperwork had been signed, so if the £150k Laxey fee needs to be paid whether the facility is used or not, then it would be completely pointless for anyone else to propose a cheaper alternative as it's too late now.
  6. The repayment of these loans won't happen until after the accounting year end which will make this year look better on paper than what it has been and could potentially make next year even worse, especially if the £2.5m loan facility has been used as well.
  7. Maybe we should be asking if Norman Crighton, Chairman of the new Investment Committee, is here to drum up investment for Rangers or to drum up business for Laxey given that he's their man in our boardroom?
  8. We don't know if it will be repaid in shares or not. Quote from the announcement: "The premium on the Laxey Facility is payable in cash or, at Laxey's discretion, in ordinary shares of 1p each, at any point between the date of the facility agreement and the first anniversary of the date of the facility agreement."
  9. If they haven't used the £2.5m loan facility which was previously arranged and have gone for this instead because it's the cheaper option as you suggest, then it's strange that they wouldn't have used that fact to put a more positive spin on this loan deal something like - "We had the previously arranged £2.5m loan facility which was mentioned in the annual accounts and at the AGM, but we haven't used it and are taking this course of action instead because it's a better deal for Rangers" The fact that the £2.5m facility is not being mentioned at all now concerns me and makes me think it's either been used already or that it's currently being used. Either way, there will be debt to repay from next season's ticket money. We just don't know yet exactly how high the level of debt is going to be.
  10. The interest on the Laxey loan is certainly very high because as some have noted 15% on a 6 month loan is actually 30% APR. Bluedell pointed out elsewhere that in actual fact the loan could potentially be paid back on 1 July making it a 4 month loan, so if that were to happen, then it would equate to 45% APR. The big question for me though, is 'when' did we actually starting using borrowed money? There was a credit facility of £2.5m mentioned in the accounts and mentioned at the AGM, so has that already been used or are we currently using it? If we're using or have used that £2.5m loan as well, then who was the lender and what were the terms of the loan?
  11. Always thought it was sponsors in hospitality. The decision gets made quite early too, like half time or something.
  12. He should only ever have been playing at CH as a temporary stand in for emergencies where injuries and/or suspensions left us without 2 proper central defenders. The fact that he was moved back there and and continued to get a start as a central defender for us at the age of 35 when he isn't even a central defender is probably the single biggest mistake which Ally has made as a manager.
  13. Turns 36 in a couple of months and we've got him contracted for another year plus he fancies staying on even longer than that. The thought of us still having Jig in our starting XI when he turns 40 is enough to give you nightmares.
  14. Not the first time we've had a biased tim masquerading as a referee this season! That prick Stevie O'Reilly in the Dunfermline game at Ibrox at the beginning of November springs to mind!
  15. I'd rather we had a better option than Foster and this line up is unlikely to happen, but wouldn't mind seeing something like this... Bell Foster Halkett Gasparotto Wallace Black Aird Law MacLeod Templeton Shiels
  16. Definitely a good idea and I filled it in earlier today, but I do have one or two reservations because overall I was left with the distinct impression that it was just a cleverly disguised introduction to (and promotion for) a membership scheme which could potentially mean it's more about "Ready to take your money" than "Ready to listen". The idea of a Club run membership scheme has a massive amount of potential, but I can't help thinking that the current owners and board might not be trusted enough for a large uptake. I also think there's a fair chance that they'll cock it up by only offering token gestures, perks and wee discounts to members rather than something meaningful like actual shares. Fans will get stuff like ticket, merchandise and catering discounts in exchange for their cash while the shysters in suits running the show get free or bargain share deals in exchange for short term loans.
  17. It'll be interesting to find out exactly which people end up being heavily involved in the CIC working group/s then because we already know of at least one self-serving egomaniac who was falling over himself to volunteer for the working group right away at the first meeting. On a brighter note, it's great to see yourself getting so involved in this because you seem to conduct yourself impeccably on the forums and you seem like someone who can be trusted to really do what it says on the tin so to speak and put Rangers First.
  18. Looks like we at least agree on some of the important points here, so that's a good start. I don't want to see our Directors attacking anyone at all, but if they do, then it should be our Club's enemies, not our own fans.
  19. It was a pertinent point which you chose to ignore and deflect from yourself. Plus ca change.
  20. That would mean a large percentage of your posts should be removed under the same principles then.
  21. Comments were posted on their page and they were apparently forced to remove them because of legal threats. If a law firm contacts any of us to ask us to remove comments we need to be fully prepared for the consequences of ignoring the threat or simply saying 'no'.
  22. Not really. A lot of our fans have been doubtful of the various owners since our Admin event (in some cases even before then!). The Easdales arrived on the scene last March/April, right? So the vice versa thing you suggested doesn't work. Serious intimidation towards our own fans didn't occur until these bus guys arrived on the scene.
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