The official "Takeover Completed" thread

[TheLawMan 6,240]

Well we will make more this year, Is it enough? I dont know

Not really my point though. The point is that for the first time in years we had a net positive spend and at the same time, we brought players in who were more than likely on more wages on the players that left. Thats what CL football does for us.

If we fail to qualify though, expect further hardship. Whyte or no Whyte. This is now the harsh reality of living in the SPL im afraid.

[Bear 25]

The media are convinced this is the deadline on Thursday. If it is, we'll soon find out.

Mate, do you think it’ll happen? Try answer yes or no LOL

[disgruntled_bear 157]

I do too bear, but it's mostly because I don't how it works.

Let's say he does walk away, according to what I've read, we have slashed about 6 million off the debt, that, added to the amount we were losing to get us into so much debt in the first place, must be a hell of a improvement ( am I making any sense ? ).

IF (and I know it's a big one) we win the league and get another slice of CL money, would not having a new owner be such a disaster ?

I know there are talks about budget slashing in the summer, but how would they justify that IF that CL money was going to slash the debt by another 6 million ?

Bluepeter, where are you, I need help ?

We are living just above the breadline so to speak as it is, Champions league money is a bonus. But we don't get that in one lump sum. It's in instalments. Our debt doesn't just stand still either it's a delicate balancing act and our squad continues to get decimated each season, we really can't take another hit we are at the end of the road.

We need some stability behind the scenes, and fast.

[disgruntled_bear 157]

Mate, do you think it’ll happen? Try answer yes or no LOL

Do I think the takeover will happen by Thursday?

No, I don't think it will happen now.

[TheLawMan 6,240]

We are living just above the breadline so to speak as it is, Champions league money is a bonus. But we don't get that in one lump sum. It's in instalments. Our debt doesn't just stand still either it's a delicate balancing act and our squad continues to get decimated each season, we really can't take another hit we are at the end of the road.

We need some stability behind the scenes, and fast.

If Whyte comes in though, he is still going to have to find a bank willing to give us a £15 million revolving overdraft facility(unless he is puting up another £15m). If he doesnt, we wont be any better off than we are currently. In fact, we will be worse.

[Bear 25]

If Whyte comes in though, he is still going to have to find a bank willing to give us a £15 million revolving overdraft facility(unless he is puting up another £15m). If he doesnt, we wont be any better off than we are currently. In fact, we will be worse.

Can you explain to a financial dummy like me how you come to that conclusion please

[krissg910 110]

to be honest, winning the lge dosnt seem to be as big a factor as we all think.

supposedly bain/johnstone have already been to agree next seasons budgets a few weeks ago.

and we extremely dissapointed by what they were given.

imo cl money only comes in to play in paying our debt off quicker, and not for the squad/transfers ect.

although i think winning the lge is a must as the quicker we get away from lloyds the better.

but if the budgets for nxt season are already done, winning the lge must not be as major as every1 seems to think(including myself).

[Agoram1 42]

Roger Hannah never said that, the caller John said he thought it could happen, John is like all of us, he knows nothing, we are all in the dark.

Roger Hannah did say that. He then changed it and said if their was no takeover and the hmrc case went against us administration was a real possibilty.

[The Hammer 11 2,606]

the mhedia in this country don't know there arsehole from there earhole and yet some expect them to know the intricacies of a business takeover

[disgruntled_bear 157]

If Whyte comes in though, he is still going to have to find a bank willing to give us a £15 million revolving overdraft facility(unless he is puting up another £15m). If he doesnt, we wont be any better off than we are currently. In fact, we will be worse.

The fact will remain though, that we will no longer be under control by the current regime. We will have some breathing room to plan ahead. We won't be worse off than we are.

How much Whyte has to invest is anyones guess at the moment.

[TheLawMan 6,240]

Can you explain to a financial dummy like me how you come to that conclusion please

Essentially, we as a club get the biggest bulk of our money in May/June time through season ticket sales and up front hospitality money. From July to the following May, if we dont have the riches of CL money, all we do is spend, spend, spend. We have actually at times in the past 5 years breached our overdraft limit of £15m but because the bank knew we would get plenty in May/June, they allowed it to happen. Thats why a few years ago, we were sitting with an overdraft of £6 million having already taken in £11 million in season book money for the FOLLOWING SEASON.

The other difficulty with Overdrafts is they are instantly recallable. Everybody talks about us owing Lloyds £20 million. Owing them £20 million is a real problem for us. Owing them £18 million (long term loan) is not a problem at all.

The wisest thing Whyte could do is not to pay back the £18 million but put the whole £33 million into the bank to allow us to run the team and to spend VERY WISELY working within limits to put a team out on the park that will give us the CL riches.

[SirWalterSmithLegend 206]

Roger Hannah did say that. He then changed it and said if their was no takeover and the hmrc case went against us administration was a real possibilty.

I take your word for it but i never heard him say that at all. He still knows no more than you or i.

[TheLawMan 6,240]

The fact will remain though, that we will no longer be under control by the current regime. We will have some breathing room to plan ahead. We won't be worse off than we are.

How much Whyte has to invest is anyones guess at the moment.

We will only have breathing room if we have money in the bank to pay for everything though.

[krissg910 110]

If Whyte comes in though, he is still going to have to find a bank willing to give us a £15 million revolving overdraft facility(unless he is puting up another £15m). If he doesnt, we wont be any better off than we are currently. In fact, we will be worse.

i think you would find that the banks would be lining up to give a debt free rangers a decent sized overdraft,

i am pretty confident on this fact.

[Bear 25]

Essentially, we as a club get the biggest bulk of our money in May/June time through season ticket sales and up front hospitality money. From July to the following May, if we dont have the riches of CL money, all we do is spend, spend, spend. We have actually at times in the past 5 years breached our overdraft limit of £15m but because the bank knew we would get plenty in May/June, they allowed it to happen. Thats why a few years ago, we were sitting with an overdraft of £6 million having already taken in £11 million in season book money for the FOLLOWING SEASON.

The other difficulty with Overdrafts is they are instantly recallable. Everybody talks about us owing Lloyds £20 million. Owing them £20 million is a real problem for us. Owing them £18 million (long term loan) is not a problem at all.

The wisest thing Whyte could do is not to pay back the £18 million but put the whole £33 million into the bank to allow us to run the team and to spend VERY WISELY working within limits to put a team out on the park that will give us the CL riches.

Ok.

What if DW buys us, clears every penny of debt, then puts X amount (lets say £5m plus money to pay every Rangers employees wages for a year) Is that not what he has basically said he’s going to do?

[TheLawMan 6,240]

i think you would find that the banks would be lining up to give a debt free rangers a decent sized overdraft,

i am pretty confident on this fact.

I am pretty confident you are wrong.

[disgruntled_bear 157]

We will only have breathing room if we have money in the bank to pay for everything though.

If a takeover happens that will be the case, the banks won't be as heavily involved as they are now. As our current owner is struggling with his finances to underwrite it.

[TheLawMan 6,240]

Ok.

What if DW buys us, clears every penny of debt, then puts X amount (lets say £5m plus money to pay every Rangers employees wages for a year) Is that not what he has basically said he’s going to do?

Our total wage bill is circa £27 million. If Craig Whyte buys Rangers, pays off our debt and stick £32 million into our bank account, I will be very pleased.

I wouldnt hold your breath though.

[Bear 25]

Our total wage bill is circa £27 million. If Craig Whyte buys Rangers, pays off our debt and stick £32 million into our bank account, I will be very pleased.

I wouldnt hold your breath though.

When you put it like that it makes my nuts retract into their sockets

[TheLawMan 6,240]

If a takeover happens that will be the case, the banks won't be as heavily involved as they are now. As our current owner is struggling with his finances to underwrite it.

David Murray could underwrite our debt if he wanted to through the Personal side of his businesses. He wants out though. The sooner the better in my opinion.......but i just cant see it happening. :-(

[krissg910 110]

I am pretty confident you are wrong.

a debt free rangers would be worth around 50mil in assets( rough guess)

our last 2-3 yrs financial yrs have shown us making profits.

if a business goes to a bank with these figures i think you would find the banks very willing to deal with you

aslong as your future business plan is sound and you arnt going to start running the club at a loss year

after year after year.

[JM1872 3,742]

In my opinion, until TV contracts increase we will always struggle financially as we get fuck all from the SFA/SPL for our final league position compared to that of the EPL and what not.

[RFC55 109,549]

I dont really see any end to this shite.

Its ok for those involved to pass the blame here there and everyhwere but its our fucking club,

Thursday as has been said could be the day then again i wouldnt bet on it

[disgruntled_bear 157]

David Murray could underwrite our debt if he wanted to through the Personal side of his businesses. He wants out though. The sooner the better in my opinion.......but i just cant see it happening. :-(

If SDM could underwrite the debt, the banks wouldn't be breathing down our necks and we would have be a lot easier to deal with. When it comes to selling us over the last few years.

One thing we do agree with, the sooner he's gone the better.

[minnbear 30]

to be honest, winning the lge dosnt seem to be as big a factor as we all think.

supposedly bain/johnstone have already been to agree next seasons budgets a few weeks ago.

and we extremely dissapointed by what they were given.

imo cl money only comes in to play in paying our debt off quicker, and not for the squad/transfers ect.

although i think winning the lge is a must as the quicker we get away from lloyds the better.

but if the budgets for nxt season are already done, winning the lge must not be as major as every1 seems to think(including myself).

If, as quite a few on here say, we can only pay off our bank debt a 1 million a year + interest, what the hell other debts can we be paying off. , or is the 1 million + a year a lot of shite ?

If our debt has went from say 27 to 21 then surely something else is getting paid off (I know last year it was outstanding transfer monies).