Jump to content

The official "Takeover Completed" thread


Recommended Posts

Whatever the intricacies of the deal and who the new ownership actaully are, the club was going backwards (smaller and cheaper squad) over the last 3 years and paying off debt to scummy LLoyds has been crippling to us as a team. Until yesterday. Where we go from here is anyone's guess but for the time being we are in good shape so I can't believe there are so many negative posters here. WTF?

Win the SPL if we can and we will all enjoy the summer. Our job now is to get right behind the team, the new management and coaching staff.

Don't worry. Be happy. Tomorrow's another day. WATP

Link to post
Share on other sites
  • Replies 11.3k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

So, in summary (admittedly a long-winded one) we appear to have three different camps in this thread: Camp 1: Pro-Whyte Key arguments in favour: 1 - Get Lloyds largely out of Ranger's decision making

Lol maybe an extreme but honestly eeryome hand on hearts where do you see us In five years?

If rangers appeal they will end up docking leauge points. The dark cloud is coming and it's about to pish all over ibrox and when the rain evaporates we will have a brand new 24 hour tescos.

Posted Images

The tims think it's hilarious doh 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? :D

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

"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.... :praise:

Link to post
Share on other sites

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

The tims think it's hilarious doh 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? :D

Celtics huge rising debt

Celtics huge costly squad

Celtics huge running costs

Celtics dwindling season book renewals.

Celtic finishing 2nd

No Champions League football again

I can see how that would be funny, but not to them.

:rolleyes:

Link to post
Share on other sites

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

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

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 reason

although i expect a press conference after its been done and dusted and his credit check has been cleared :D

Link to post
Share on other sites

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

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

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 :21:

minnbear likes this
Link to post
Share on other sites
Guest
This topic is now closed to further replies.
  • Upcoming Events

    • 23 January 2021 15:00 Until 17:00
      0  
      Rangers v Ross County
      Ibrox Stadium
      Scottish Premiership

×
×
  • Create New...