The official "Takeover Completed" thread

[stampyurie 203]

So the directors are goina invest now after 3/4 years off the club being ripped apart and now keep us with a wantaway owner? I startin to think were gettin fucked over now by the folk who run our club for self preservation.

Sack the board

[WWTC 2,256]

So the board will raise £25M themselves? What use is that? That'll barely cover our debt? Am i missing something? Im pissed right off with this, could this magician of a board member not have come up with this idea alittle sooner? IMO weve been lied to from the start, its all a farce. If we lose this tax case we're goin to the wall. Fuckin disgusting.

[gunslinger 270]

To this end the Board has had an approach from one of its directors who wishes the Board to consider an alternative funding option. This would involve a fresh issue of new capital to raise £25m to be invested directly into the Club. The Board believes that it has a responsibility to examine this proposal whilst continuing its review of the Craig Whyte transaction. After six months of limited engagement in the process, the Board believes that is not in the best interests of its stakeholders for it to be pressed into an unrealistic timescale.

DAVE KING PER CHANCE?

almost certainly.

[outlaw69uk 123]

So many questions and fuck all answers. The whole thing is a complete and utter mess.

The club is a shambles from top to bottom. Sunday pub teams are run better.

Johnston had a pedigree when he came to us, alledgedly, doesnt seem to be true.

Something isnt right here, because, this should be irrelevant, as far as the takeover goes.

1 - Lloyds released a statement, saying they were happy with the price, and the proof. Its a bank, so, regardless how shite, hard to see that being too dodgy.

2 - Offer made, Murray seems happy

The board have NO say in it at that point, they really dont.

Now, mr Johnston has concerns about ongoing funding? Why? You just told us you had "found" £25 million you dumb fuck!

By the way, where exactly was that last 3 years when we have been struggling?

It stinks! The board is a joke

[stampyurie 203]

So if murray is happy, the banks happy and whytes happy with the terms agreed, why does in go to the board to decide if whyte can by murrays shares not theres (if they have any among them) just murrays why do they need to be involved at all.

[MCLACHLAN1 49]

SOOOOOOOoooooooo.....

I read this as.....

"We don't want to sell to Whyte...... All of our Board like getting paid the way things are.....So one of the old boys who has been part of taking us near to ruin has suggested a way we can raise £25 mil.....(Thats you the fans by the way but we'll talk about that later) We will still have £28 mil debt with the Bank and still be owned by the Invisible Charlatan but whatever you the Fans raise will be given to Ally....... Meantime we can still be ran in the same short term , no vision for future way.....Whatya say?"

Am I wrong?

[outlaw69uk 123]

So if murray is happy, the banks happy and whytes happy with the terms agreed, why does in go to the board to decide if whyte can by murrays shares not theres (if they have any among them) just murrays why do they need to be involved at all.

It doesnt. He is just making noises

[Plamf 39]

It's a interesting development, AJ does have the best interests at heart and is a fan. He wouldn't put the club in serious danger if he didn't have some kind of back up plan.

Personally I still think we'll lose this Tax case, and will enter Administration. But all in all this might just spark interest from other suitors to buy the club.

He has our best interests at heart but you think we will go into administration ? Chortle

[stampyurie 203]

Johnston had a pedigree when he came to us, alledgedly, doesnt seem to be true.

Something isnt right here, because, this should be irrelevant, as far as the takeover goes.

1 - Lloyds released a statement, saying they were happy with the price, and the proof. Its a bank, so, regardless how shite, hard to see that being too dodgy.

2 - Offer made, Murray seems happy

The board have NO say in it at that point, they really dont.

Now, mr Johnston has concerns about ongoing funding? Why? You just told us you had "found" £25 million you dumb fuck!

By the way, where exactly was that last 3 years when we have been struggling?

It stinks! The board is a joke

Well said that man

[Plamf 39]

SOOOOOOOoooooooo.....

I read this as.....

"We don't want to sell to Whyte...... All of our Board like getting paid the way things are.....So one of the old boys who has been part of taking us near to ruin has suggested a way we can raise £25 mil.....(Thats you the fans by the way but we'll talk about that later) We will still have £28 mil debt with the Bank and still be owned by the Invisible Charlatan but whatever you the Fans raise will be given to Ally....... Meantime we can still be ran in the same short term , no vision for future way.....Whatya say?"

Am I wrong?

Seems pretty bang on

[stampyurie 203]

It doesnt. He is just making noises

Yeah but it seems to be working if murrays happy with the deal it should have hee haw to do with this bunch of cowboys ruinin our club.

[outlaw69uk 123]

Yeah but it seems to be working if murrays happy with the deal it should have hee haw to do with this bunch of cowboys ruinin our club.

Not really, we dont know that until Whyte speaks. Everything is rumours.

It took us 6 months to complete a takeover of a company with 12 staff, and 1 managing director, with a turnover of around £750k, who wanted to sell to us.

These things can take time

[Plamf 39]

For the record I never trusted aj nor anyone associated with murray

[outlaw69uk 123]

so this was posted on VB, am guessing from STV site (as always, a "source" but, it will have to do

Prospective Rangers buyer Craig Whyte is understood to be “frustrated and angered” by a statement from the takeover sub-committee, which claimed they were yet to see proof of the necessary funds to run the club.

STV understands the businessman, who has negotiated a £27.5 million deal with Murray International Holdings and Lloyds Banking Group, is exasperated by the claims of club chairman Alastair Johnston.

Johnston said the board hadn’t received “a detailed working capital statement demonstrating that there is sufficient funding in place to meet the pressing needs of the club”.

However, a source close to the deal told STV: “The move by the board makes no sense at all and is clearly a misguided attempt to further delay or disrupt the deal.

“The deal Craig Whyte was putting forward was worth £52.5 million, more than double the amount which is said to be raised by an unnamed Rangers director.

“Mr Whyte is frustrated, angered and his patience is wearing thin.

“If the takeover took place not only will the debt be wiped out but, on day one, £10 million will go into Rangers’ bank account as working capital.”

RIght, so, lets be positive about AJ shall we?

Is he trying to ensure that the current board, Bain etc? Are certain to be removed after takeover? That is the ONLY possible reason that makes sense! And, in fairness, would be fantastic news!

[nvager 498]

Strictly neutral on all of this - don't trust any of them on either side - but I feel this will come to a conclusion soon. This may be AJ's way of tieing down Whyte on future funding for RFC. if it is not that then I have no clue what he is up to. As far as the other 25m mentioned - is this not a share issue? If so the fans will not support it as they do not trust the current Board of RFC and SDM.

[Dennis 1,011]

An agreement was made yesterday with Whyte,MIH and Lloyds.

[stampyurie 203]

Confirmed that its dave king thats idea for the 25mil investment.

Stv raman

[MCLACHLAN1 49]

Confirmed that its dave king thats idea for the 25mil investment.

Stv raman

That the same Dave King whose assets are all frozen?

[stampyurie 203]

Yes it is. Was on scotland today

[outlaw69uk 123]

That the same Dave King whose assets are all frozen?

Ah, a proven untrustworthy current member of the Rangers FC board!

we trust these people

[Liam_RFC 238]

this is turning into a joke

[Clemdog 39,389]

I'm sorry but we need shot of our board pronto.

[Brian Fantana 28,894]

SOOOOOOOoooooooo.....

I read this as.....

"We don't want to sell to Whyte...... All of our Board like getting paid the way things are.....So one of the old boys who has been part of taking us near to ruin has suggested a way we can raise £25 mil.....(Thats you the fans by the way but we'll talk about that later) We will still have £28 mil debt with the Bank and still be owned by the Invisible Charlatan but whatever you the Fans raise will be given to Ally....... Meantime we can still be ran in the same short term , no vision for future way.....Whatya say?"

Am I wrong?

no, you're absolutely correct.

Whyte should show the money and the board will resign anyway before they are sacked.

[stampyurie 203]

Think there has tobe a breakin point in this i think the majority of fans want a new owner to bring his ideas and investment to the forfront.

We dont want dodgy daves (murray and king) have much to any involvement with the club. Kings idea of investing in club but not clearin debt and murray still at the helm worrys me for out future.

Think whytes going scrap this takeover now and were goina be stuck with the self serveing cunts for the forseeable

[krisboyuk 6]

Shite. Dave King get yerself tae fuck. That goes with the rest of the board.