News Regarding Proposed Takeover

[bluepeter 5,627]

can someone explain the "massive" MIH debt that will magically appear on the accounts that someone keeps mentioning

Not had time to read the whole thread, but I agree with you mate, I do wish people would separate the debt of RFC from the debt of MiH, our debt as a football club is approximately 31 million, possibly a bit less by now, this has nothing to do with any overall debt that MiH might have. There is no way on this earth from a legal perspective that "new" debts can appear on Rangers' books.

so if rangers and MIH are seprate, then by rights the 13 million quid profit we made would go towards bring down rangers fc's debt. correct? then that would indicate rangers debt is down to 21 million or am i completely WAY off the mark.

The £13m 6 month "profit" goes towards paying wages, bonuses, other running costs and things for the whole season, as we will lose money in the second half of the year. There are people on here who know loads about it (I'm not one of them). The £13m includes £18m (?) Champions League money, so without that we would have lost £5m (simplistically). We have paid off some debt (I read our current debt is £27m somewhere), but we couldn't use all the £13m for this purpose.

[Poetry_In_Blue 1,043]

can someone explain the "massive" MIH debt that will magically appear on the accounts that someone keeps mentioning

Not had time to read the whole thread, but I agree with you mate, I do wish people would separate the debt of RFC from the debt of MiH, our debt as a football club is approximately 31 million, possibly a bit less by now, this has nothing to do with any overall debt that MiH might have. There is no way on this earth from a legal perspective that "new" debts can appear on Rangers' books.

so if rangers and MIH are seprate, then by rights the 13 million quid profit we made would go towards bring down rangers fc's debt. correct? then that would indicate rangers debt is down to 21 million or am i completely WAY off the mark.

Slightly, it needs someone with a better financial brain than me to explain, but what did that 13 million include, and even though it was a profit how much of that had already been included in the perceived 31 million debt?

We did have an operating profit of 13.1 million, but at the end of December we declared a debt of approximately 31 million, it could mean that we had been sitting on a debt of approximately 44 million?

What must be remembered is that Rangers will have been fully aware of what money we would be making from the CL etc and approximately on saved wages, this could have all been included in the debt prior to the official release of profits?

I could be way of the mark, and that's why someone with a better understanding of financial structure and reports would be able to give a better answer.

[Poetry_In_Blue 1,043]

can someone explain the "massive" MIH debt that will magically appear on the accounts that someone keeps mentioning

Not had time to read the whole thread, but I agree with you mate, I do wish people would separate the debt of RFC from the debt of MiH, our debt as a football club is approximately 31 million, possibly a bit less by now, this has nothing to do with any overall debt that MiH might have. There is no way on this earth from a legal perspective that "new" debts can appear on Rangers' books.

Report the other day (Herald?) suggested that the alleged £33m bid from Ellis et al was intended to cover the now £27m debt, plus the £6m which Murray bought the club for.

Yeah, read that in one of the articles also, and as other people have mentioned there is still the operating costs for the remainder of the season to be taken into consideration.

If the debt is now down to £27 million, which sounds more plausible to me, then £4 million of the declared profits has gone to the debt and the remainder for wages etc for the remainder of the season.

[sonOwilliam 0]

Does anyone know how rich this Andrew Ellis is, just wondering. ?

[Muff 245]

I will remain from passing judgement until we hear what Mr Ellis has to say, and outlines his plans.

[sonOwilliam 0]

I will remain from passing judgement until we hear what Mr Ellis has to say, and outlines his plans.

I'll be the same Muff, but its not a done deal just yet someone can come in with a 40 mil bid at anytime.

[v1ce 0]

This has maybe been said, but thought I'd ask in case it hadn't.

Someone told me that the £33m would simply to be to 'buy the debt' and that MIH would still own the Stadium and the Training Facilities, is this correct? Just trying to figure out how that would work out.. Would there then be a fee to MIH for use of the Facilities and Stadium etc..?

[Muff 245]

I will remain from passing judgement until we hear what Mr Ellis has to say, and outlines his plans.

I'll be the same Muff, but its not a done deal just yet someone can come in with a 40 mil bid at anytime.

Early stages but at least there is something going on.

[Amac9 2,060]

If someone can come in and reduce the debt, keep hold of our best players, have the clubs best interest at heart and bring in some new faces then I'm for it.

[Poetry_In_Blue 1,043]

This has maybe been said, but thought I'd ask in case it hadn't.

Someone told me that the £33m would simply to be to 'buy the debt' and that MIH would still own the Stadium and the Training Facilities, is this correct? Just trying to figure out how that would work out.. Would there then be a fee to MIH for use of the Facilities and Stadium etc..?

This is where rumour control starts to kick in, as none of us will know the ins and outs of any proposal that is put forward by any prospective buyer, these things Mr & Mrs Jo Public will never know for legal reasons.

Well, won't say never know, as we might be informed of any arrangements after a deal has been struck and interested parties have signed the dotted line.

[Zappa 358]

I will remain from passing judgement until we hear what Mr Ellis has to say, and outlines his plans.

Have to say that I'm not as optimistic about this supposed bid. Based on his previous dealings with clubs down south I'm far from open minded about these being the right people for our club. If a takeover had to go through with these people, then it'll be fingers crossed time, but for the moment I'm hoping that this falls through and comes to nothing. Rangers Football Club isn't something that can be gambled with, so whoever buys out SDM needs to be a very safe bet if there is such a thing.

[Right_To_Censor 1,951]

Well hopefull there will be more news when i come back, gonna bake a 5 min mug cake.

[Tumshie 205]

This has maybe been said, but thought I'd ask in case it hadn't.

Someone told me that the £33m would simply to be to 'buy the debt' and that MIH would still own the Stadium and the Training Facilities, is this correct? Just trying to figure out how that would work out.. Would there then be a fee to MIH for use of the Facilities and Stadium etc..?

This is where rumour control starts to kick in, as none of us will know the ins and outs of any proposal that is put forward by any prospective buyer, these things Mr & Mrs Jo Public will never know for legal reasons.

Well, won't say never know, as we might be informed of any arrangements after a deal has been struck and interested parties have signed the dotted line.

Rangers FC own Ibrox Stadium and Murray park not Murray International Holdings

[MillwallLoyal 283]

Some of us 'Englishmen' have the club at heart ;-)

[sonOwilliam 0]

I will remain from passing judgement until we hear what Mr Ellis has to say, and outlines his plans.

I'll be the same Muff, but its not a done deal just yet someone can come in with a 40 mil bid at anytime.

Early stages but at least there is something going on.

[outlaw69uk 123]

can someone explain the "massive" MIH debt that will magically appear on the accounts that someone keeps mentioning

Not had time to read the whole thread, but I agree with you mate, I do wish people would separate the debt of RFC from the debt of MiH, our debt as a football club is approximately 31 million, possibly a bit less by now, this has nothing to do with any overall debt that MiH might have. There is no way on this earth from a legal perspective that "new" debts can appear on Rangers' books.

Report the other day (Herald?) suggested that the alleged £33m bid from Ellis et al was intended to cover the now £27m debt, plus the £6m which Murray bought the club for.

Yeah, read that in one of the articles also, and as other people have mentioned there is still the operating costs for the remainder of the season to be taken into consideration.

If the debt is now down to £27 million, which sounds more plausible to me, then £4 million of the declared profits has gone to the debt and the remainder for wages etc for the remainder of the season.

I dont know, the thing with this "debt" lark is this...

My understanding is that there are 2 things in place, one being a "business plan" agreed with Lloyds, which, in laymans terms is simple a working practice to ensure we "live within our means" (which is very sensible) and, dont take credit facilities as a way to create working capitol, more or less.

The second, more important part that almost EVERYONE seems to miss/ignore/not realise, is that our "debt" is being handled in the exact same manner as a mortgage, or, more accurately, a reducing overdraft. We reduce it by £1million per year, THAT is our agreement. We dont "need" to give them anything else. This is the amount we have to spend, basically, so, if we make profit, and, are not as far into the "overdraft", then, we have more to spend, but, the "official amount" will reduce by £1million per year. Its pretty simple. Thats why it ws stated we could buy someone if we wanted to, and, also why we didnt have to sell players in the window, because it doesnt go directly to the bank

Thats also the reason the amount is being taken into account when it comes to a sale, because, technically, if we made £20 mil this season in pure profit, we would have the same amount to play with, less £1 million. Although, I am sure that these amounts would change with a new owner and new credit facilities. MIH's crap position are part of the reason they are being strict with us

Have to add though, if someone is offering murray the £6 mil he originally paid, thats fantastic!! And funny

[disgruntled_bear 157]

Just glad they are some interest, hopefully a few other parties come out and we get to hear what their plans are for us.

[nvager 498]

It will all come out in the wash, but would it not be fantastic if these property developer could take over SDM's super Ibrox Development scheme and then Rangers would receive millions of income from concerts, hotels etc. and have lots of money flowing into the team? I know this a dream scenario, but well can you imagine the outcry from the Mopes across the city?

[Stu1993 101]

I will remain from passing judgement until we hear what Mr Ellis has to say, and outlines his plans.

I'll be the same Muff, but its not a done deal just yet someone can come in with a 40 mil bid at anytime.

Early stages but at least there is something going on.

Was good to hear the club come out and say what is going on, instead of us second guessing alot of the time

[WaltersGotStyle 160]

I heard off a decent source that it will be all change come middle of the week... That's all he would say read into that what you will

[Stu1993 101]

Hopefully, the sooner things change the sooner we get told what is going to happen and the less the players, management, board have to worry about what will happen to them etc.

[outlaw69uk 123]

I will remain from passing judgement until we hear what Mr Ellis has to say, and outlines his plans.

Have to say that I'm not as optimistic about this supposed bid. Based on his previous dealings with clubs down south I'm far from open minded about these being the right people for our club. If a takeover had to go through with these people, then it'll be fingers crossed time, but for the moment I'm hoping that this falls through and comes to nothing. Rangers Football Club isn't something that can be gambled with, so whoever buys out SDM needs to be a very safe bet if there is such a thing.

Theres the thing, as with a player and a manager, none of these are "safe" as such. Murray clutching on to his "power" is the worst thing that could be happening, a change, regardless of how safe or not we think it is, is needed. It looks like Boyd is waiting to see what happens with Smith and the club before signing, and, that kind of thing wont be resolved. A new owner cant really do a worse job than the last few years. Look at the difference, even in Smith, since he is out the picture. Defending the club! Brilliant.

Everyone wants the second coming of Abramovich, waltzing in with millions upon millions, and, the next Mourinho in charge, but, back in the real world, thats not likely. Seems since the whole arabs in the EPL and the like, that, owners are now a major talking point these days, i dont really get that. They dont matter to me as long as the finances are handled right, and, thats about it for me. Some seem to be longing for Dave King to come in, because he is a "Rangers man", but, shit, the tax evasion stuff, no matter how dodgy, makes me fancy him taking over far less than this Ellis guy, who also seems to be "part" of something, rather than the man.

[Stu1993 101]

i was just wondering if this was on the website earlier on, dont think it was when i first checked it, anyone know ?

It is particularly important to the Independent Directors that any possible offeror is able to demonstrate the capacity and commitment to provide a stable and sustainable future for RFC and the Independent Directors will want to understand fully the plans of any potential offeror in order to recommend the action that shareholders should take.

The Independent Directors exclude Mike McGill and Donald Muir who are connected to MIH, and so have a potential conflict of interest, and Dave King and Paul Murray about whose intentions there has been past speculation that could lead to a perception of a possible conflict of interest.

The board will keep all shareholders informed of further developments

I think it may have been added on to the rest of statement made this morning

[thebooler 4,509]

All I want is to see the club being stabilised and for future profits to be just that - profits.

We have a good Manager and a decent team which only needs tweaked to improve it.

If the right person comes in and runs the club properly, then they could use future profits to move us on to a higher level - a step at a time.

CL is no doubt beyond us now but I don't see why we can't focus on winning the Europa League - we need to have ambition and with a bit of stability and future team building without going into unnecessary debt, I don't see why we can't realistically compete in the Europa league with some amount of success.

[sillybilly 151]

i feel there are a couple of major players just sitting watching things unfold, waiting to show their hand. i think this is just the start. the wheels are starting to turn. the futures bright