Coplandbear11 1,087 Posted May 7, 2011 Share Posted May 7, 2011 Am drunk and happy Link to post Share on other sites More sharing options...
Spacecowboy 92 Posted May 7, 2011 Share Posted May 7, 2011 The tims think it's hilarious They are a fucking pathetic bunch, still think they're in the driving seat for the league too. Who's the most debt in Glasgow? nobody has been paid yet. so its still us mate.apart from that I think this can only mean good things for our club.I am in no means dilusional tho, and realize that it wont be long before we are opperating in debt again (although much more managable and within our terms). cant wait for us to be putting serious offers in for good players, instead of trying to get once good players on the cheap or on loan.I realize also there will be further tough times ahead for us, but for now lets get this league wrapped up, stick 2 fingers up to the beasts from the east and enjoy what will be a different rangers.WATP Link to post Share on other sites More sharing options...
OceanRain 2,845 Posted May 7, 2011 Share Posted May 7, 2011 Was away to work before the news brokeYAAAAAAAAAASSSSSSSSSSSSSSSSSSS!!!Welcome to the greatest club in the world, Mr.Whyte.And to all the lurking Tims - Get it RIIIIIIIIIIIIGHT fucking up ye! Link to post Share on other sites More sharing options...
martyboy2009 11 Posted May 7, 2011 Share Posted May 7, 2011 I can't wait to see mccoist in charge next season!!! A gentleman taking over from another, I hope his signings are good and we play some exciting football!!! Link to post Share on other sites More sharing options...
bunter 0 Posted May 7, 2011 Share Posted May 7, 2011 what page of this thread did the takeover go through at??? Link to post Share on other sites More sharing options...
No.12 508 Posted May 7, 2011 Share Posted May 7, 2011 Get it right up ye Finport Link to post Share on other sites More sharing options...
fourfourtwo 1,936 Posted May 7, 2011 Share Posted May 7, 2011 This thread isn't big enough for a take over Link to post Share on other sites More sharing options...
RossS1873 1,656 Posted May 7, 2011 Share Posted May 7, 2011 could someone explain to me why whyte only paid £1 for SDMs shares? it just has me confused. Link to post Share on other sites More sharing options...
No.12 508 Posted May 7, 2011 Share Posted May 7, 2011 Not heard Ellis being mentioned in the last few days, was he still involved? Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted May 7, 2011 Share Posted May 7, 2011 Just caught up on this news now, I feel like I've missed a big party Welcome Mr Whyte, to the greatest football club in the World! Link to post Share on other sites More sharing options...
Vodka 14 Posted May 7, 2011 Share Posted May 7, 2011 48 hours!! Link to post Share on other sites More sharing options...
Grant_1986 73 Posted May 7, 2011 Share Posted May 7, 2011 "Rangers is a great club with a great future. It has the best supporters in the world and I will do everything possible to protect and enhance the club's standing going forward."Been in the job 5 minutes and he's already done a better job of standing up for us.... Link to post Share on other sites More sharing options...
Ace 3,556 Posted May 7, 2011 Share Posted May 7, 2011 Regarding the Debt ... i imagine (but will likely be proved wrong) that you can't just pay of the debt of another company, which Rangers were.Wavetower will have to assume the debt first then pay it off under their own name and i assume that as the deal was announced after the stock exchange closed (Gunslinger got that right .. eventually) then the transactions couldn't be processed.I certainly cannot see LBG backing a deal that transfers the debt from one company to another and the financial situation pursuant to them remaining static.Again, all the above could be absolute bollocks but it's my tuppence worth Link to post Share on other sites More sharing options...
aliangus 0 Posted May 7, 2011 Share Posted May 7, 2011 NEW DAY NEW ERA Link to post Share on other sites More sharing options...
Ace 3,556 Posted May 7, 2011 Share Posted May 7, 2011 After re-reading some things. if Wavetower do pay the debt to LBG on behalf of Rangers ... do we then owe Wavetower the debt ?? Link to post Share on other sites More sharing options...
DarcheVinny 1,003 Posted May 7, 2011 Share Posted May 7, 2011 After re-reading some things. if Wavetower do pay the debt to LBG on behalf of Rangers ... do we then owe Wavetower the debt ??I saw it as he is effectively paying LBG off to own our club? Link to post Share on other sites More sharing options...
SirWalterSmithLegend 206 Posted May 7, 2011 Share Posted May 7, 2011 The tims think it's hilarious They are a fucking pathetic bunch, still think they're in the driving seat for the league too. Who's the most debt in Glasgow? Celtics huge rising debtCeltics huge costly squadCeltics huge running costsCeltics dwindling season book renewals.Celtic finishing 2ndNo Champions League football againI can see how that would be funny, but not to them. Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted May 7, 2011 Share Posted May 7, 2011 After re-reading some things. if Wavetower do pay the debt to LBG on behalf of Rangers ... do we then owe Wavetower the debt ??It certainly reads that way. Perhaps more worrying though is who Wavetower owe their now new debt(if any) to and what they used to convince the lender to give them the money.My biggest fear is that we have just jumped out of the fire and straight into an inferno.I hope Craig comes out quick style and tells us whats happening.PS - Why no press conference ? He has just bought one of the UK's biggest sporting Institutions and there isnt even a press conference to announce his arrival. ?? Link to post Share on other sites More sharing options...
Polo 1,433 Posted May 7, 2011 Share Posted May 7, 2011 Rangers can assign the debt to Wavetower. Any borrowing by Wavetower will be secured against Wavetower's assets - which could include its shares in Rangers, but presumably not Rangers' assets. Link to post Share on other sites More sharing options...
kplfishtank 4,656 Posted May 7, 2011 Share Posted May 7, 2011 It certainly reads that way. Perhaps more worrying though is who Wavetower owe their now new debt(if any) to and what they used to convince the lender to give them the money.My biggest fear is that we have just jumped out of the fire and straight into an inferno.I hope Craig comes out quick style and tells us whats happening.PS - Why no press conference ? He has just bought one of the UK's biggest sporting Institutions and there isnt even a press conference to announce his arrival. ??keevins said on radio last night that he was a very private person and wouldnt do interviews.....now i know he talks a lot of pish but maybe thats part of the reasonalthough i expect a press conference after its been done and dusted and his credit check has been cleared Link to post Share on other sites More sharing options...
stampyurie 203 Posted May 7, 2011 Share Posted May 7, 2011 Is he not tellin us all in tge 18th a may? Link to post Share on other sites More sharing options...
TheMotor 2,208 Posted May 7, 2011 Share Posted May 7, 2011 After re-reading some things. if Wavetower do pay the debt to LBG on behalf of Rangers ... do we then owe Wavetower the debt ??No.This also illustrates the desperation of the tims over this issue. It is a condition of the sale, as notified to the stock exchange, that Wavetower must "waive" the debt within the forseeable future. This means the club will have no liabilities with regard to the debt. Link to post Share on other sites More sharing options...
Ace 3,556 Posted May 7, 2011 Share Posted May 7, 2011 No.This also illustrates the desperation of the tims over this issue. It is a condition of the sale, as notified to the stock exchange, that Wavetower must "waive" the debt within the forseeable future. This means the club will have no liabilities with regard to the debt.That doesn't mean waive the debt entirely though .. or does it?There is room for confusion here, Whyte has either cleared the debt, transferred the debt or postponed the debt ... which is it ?? Link to post Share on other sites More sharing options...
Gerwelly 115 Posted May 7, 2011 Share Posted May 7, 2011 As I have picked this up , Wavetower were set up by to handle buying the Gers. It is owned by Whtye with the guy he appointed to the our board a director in Wavetower. In the statement from the stock exchange where it said that Wavetower had bought Murrays' shares for a £1 it also said they had taken on the debt from Lloyds with an obligation to clear this debt. The £1 was in part a good will gesture from Murray but also the money that he would have got (£5 - £6 million) is being used to pay the £2.8 million tax bill that appeared with the rest of that money bieng added straight to the fund for players. The independant committee with AJ, Bain, Grieg, Mclellend and I forget the other guy are concerned about the HRMC tax case if we lose it. They don't know how Whyte will cover any loss but how the hell were they going to cover any cost? This was their major concern hence the statement.I am no financial whiz but this is what I think I have picked up from following this thread since November and what guys ( you know who you are )with more knowledge and sources (notice I said knowledge and not wisdom) than I (I have none) have posted. I know there are questions that need answered it and may go against the grain but can we not be positive for at least 48 hrs and enjoy this support the team in there 3 massive games, send of our legend of a manager in the style he deserves, welcome our legend of an ex player on his new post as the Main Man and as someone once said KEEP BELIEVING and I for one do believe the future will be Blue & Whyte. WATP minnbear 1 Link to post Share on other sites More sharing options...
TheMotor 2,208 Posted May 7, 2011 Share Posted May 7, 2011 That doesn't mean waive the debt entirely though .. or does it?There is room for confusion here, Whyte has either cleared the debt, transferred the debt or postponed the debt ... which is it ??The debt has been transferred from Rangers to Wavetower (minus the 4 million loan detailed earlier in the negotiations) and will be repaid to Lloyds by Wavetower via whatever arrangement they have agreed together. Rangers will have no liability for this debt.I would expect Wavetower to clear the Lloyds debt very quickly, or else there would be no reason for lloyds to have been so keen: they want out.Again, it is the "waive" condition on the transfer of the debt that is important. It doesn't matter if Wavetower just obtain finance elsewhere to pay lloyds; the debt cannot come back to the club. Link to post Share on other sites More sharing options...
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