How is the debt being paid?

[ScottBF2 3,540]

Not that i know of, apart from what the press has reported, but that is speculation. are there any quotes on the debt being moved.

Yep, they're on the first page of this topic. The Board issued it in their statement (the one that Whyte had removed). It could be a load of balls, but it's the only information I've been given by anyone close to being "in the know".

Wavetower is purchasing MHL's 85% shareholding in the Club for £1 and the Club's indebtedness with LBG is to be assigned to Wavetower

[JM1872 3,745]

At the point of takeover finalising, the debt, which we owed to LBG, was transferred over to the company, Wavetower Limited, which was set up specifically for the acquisition of the club.

Therefore, the debt no longer lies with Rangers Football Club but instead Wavetower Limited, who are a company under the parent company of Liberty Capital, which in turn is owned by Craig Whyte.

The £4m debt is for Albion Car Park. Now, I personally don't know about this one as I don't tend to read about it.

Whether the debt has been paid straight away or it will be paid over the next couple of weeks, I don't know. What I do know, is that the debt no longer lies with Rangers. We are debt free, enjoy it.

SDM will have went the extra mile to ensure we are in good hands!

[ScottBF2 3,540]

At the point of takeover finalising, the debt, which we owed to LBG, was transferred over to the company, Wavetower Limited, which was set up specifically for the acquisition of the club.

Therefore, the debt no longer lies with Rangers Football Club but instead Wavetower Limited, who are a company under the parent company of Liberty Capital, which in turn is owned by Craig Whyte.

The £4m debt is for Albion Car Park. Now, I personally don't know about this one as I don't tend to read about it.

Whether the debt has been paid straight away or it will be paid over the next couple of weeks, I don't know. What I do know, is that the debt no longer lies with Rangers. We are debt free, enjoy it.

SDM will have went the extra mile to ensure we are in good hands!

I don't think anyone's worrying about the debt - it's gone, out of our hands now.

[TheMotor 2,208]

Any quotes for this mate?

It is part of the takeover conditions that the debt to Lloyds is cleared in the "forseeable" future. That will be weeks, not months.

As of now the debt has gone from Rangers FC and will be "waived" by Wavetower. In other words, its not coming back.

[ScottBF2 3,540]

It is part of the takeover conditions that the debt to Lloyds is cleared in the "forseeable" future. That will be weeks, not months.

As of now the debt has gone from Rangers FC and will be "waived" by Wavetower. In other words, its not coming back.

I'm not doubting that the debt will be cleared, I was just looking for an official source for saying it has been

[JM1872 3,745]

I don't think anyone's worrying about the debt - it's gone, out of our hands now.

Was just saying my interpretation of what I read, which must have been the same as you as I back your claims about Wavetower 100%.

And by worrying about the debt I mean people who are worrying 'Is it paid? Do we still have it? What happens with it now? When will it be paid?' etc

[ScottBF2 3,540]

Was just saying my interpretation of what I read, which must have been the same as you as I back your claims about Wavetower 100%.

And by worrying about the debt I mean people who are worrying 'Is it paid? Do we still have it? What happens with it now? When will it be paid?' etc

Gotcha

[Nemesis 277]

Glasgow Rangers have only a single 4m loan which is being used to purchase the Albion and potentially build a multi storey car park for matchdays and event usage

The 18m is now covered by Wavetower and ultimately Liberty Holdings.

No totally debt free thanks to the 4m but near enough

Whyte also looks as if he'll appoint the former Director of Operations at Bank Of Scotland to our board so be nice to have a proper financial heavyweight on board to help steer us right.

[Dennis 1,011]

At the point of takeover finalising, the debt, which we owed to LBG, was transferred over to the company, Wavetower Limited, which was set up specifically for the acquisition of the club.

Therefore, the debt no longer lies with Rangers Football Club but instead Wavetower Limited, who are a company under the parent company of Liberty Capital, which in turn is owned by Craig Whyte.

The £4m debt is for Albion Car Park. Now, I personally don't know about this one as I don't tend to read about it.

Whether the debt has been paid straight away or it will be paid over the next couple of weeks, I don't know. What I do know, is that the debt no longer lies with Rangers. We are debt free, enjoy it.

SDM will have went the extra mile to ensure we are in good hands!

Thanks, that makes sense. too much scaremongering getting done with some.

[mav3ric 13]

Glasgow Rangers have only a single 4m loan which is being used to purchase the Albion and potentially build a multi storey car park for matchdays and event usage

The 18m is now covered by Wavetower and ultimately Liberty Holdings.

No totally debt free thanks to the 4m but near enough

Whyte also looks as if he'll appoint the former Director of Operations at Bank Of Scotland to our board so be nice to have a proper financial heavyweight on board to help steer us right.

Looking at the names mentioned it seems to be an experienced team that Whyte is getting together. Hopefully this can only be good for The Rangers and the future financial stability of the club.

[ScottBF2 3,540]

At the point of takeover finalising, the debt, which we owed to LBG, was transferred over to the company, Wavetower Limited, which was set up specifically for the acquisition of the club.

Therefore, the debt no longer lies with Rangers Football Club but instead Wavetower Limited, who are a company under the parent company of Liberty Capital, which in turn is owned by Craig Whyte.

The £4m debt is for Albion Car Park. Now, I personally don't know about this one as I don't tend to read about it.

Whether the debt has been paid straight away or it will be paid over the next couple of weeks, I don't know. What I do know, is that the debt no longer lies with Rangers. We are debt free, enjoy it.

SDM will have went the extra mile to ensure we are in good hands!

Some suggestion from the dark side that the debt is still held against our assets? Is that possible?

I have no idea how this financial junk works, so any help is useful.

[JM1872 3,745]

Thanks, that makes sense. too much scaremongering getting done with some.

No bother mate

[TheMotor 2,208]

Some suggestion from the dark side that the debt is still held against our assets? Is that possible?

I have no idea how this financial junk works, so any help is useful.

Its nonsense. They're just desperate.

The liability of Rangers FC for the debt to Lloyds, outwith the 4 million, is nil. It is in the takeover offer. They should probably read it before spouting pish.

[JM1872 3,745]

Some suggestion from the dark side that the debt is still held against our assets? Is that possible?

I have no idea how this financial junk works, so any help is useful.

Don't listen to them mate Sheer guessing work from them.

The debt, in one of two ways, no longer lies with Rangers. It is either in the possession of Wavetower Limited waiting to be paid off or it has been paid off. SDM wouldn't allow it to be held against our assets, it wouldn't be in the best interests of our club.

One of the main reasons, I think, that LBG allowed Wavetower to take the loan on for just now is that they don't want any debt in the football industry. For what reason I don't know. Also, Lloyd's wouldn't want it held against the assets as I'm sure they made it clear they wanted their money back and they wanted it now, hence the severe cuts they imposed despite the success on the park and the UCL money flowing.

I don't know the financial stuff myself, although I did take Accounting and Finance in 3rd and 4th year. From what info I'm giving you, is my interpretation of the stuff I've read in great detail over the last couple of days.

The guessing work by the mhanks is mainly down to the fact that nobody knows much about Whyte. They are out to put a dampener on our spirits, along with their bum buddies in the mhedia, because they know fine well that if they lose the league this year, which is looking likely, then they will be in the shits.

However, from the neutral man in me that appears in desperate times for Scottish football, I really hope they don't sell their biggest players (Hooper, Kayal, Izaguirre, etc.) because with us going into the Champions League (as league winners, albeit the quals.) and them, Hearts, United and maybe someone else going into the Europa League, it is a great opp. for them to help get the co-efficent back up. We need to start performing and maybe getting one or two teams into the group stages of the Europa this season, possibly even further: getting automatic UCL spots is crucial. However, we know Celtic struggle away from home in Europe and if they don't qualify for the real Europa League then I can see a few big names leaving.

So, that is the reasoning why they are merely guessing at these things, trying to stir shite and get the rumours going to make them feel better about themselves. Much like the fact their guessing were getting done for match fixing because of Kello and Zalukias, who didn't even play yesterday so they couldn't influence the result. Walter& Ally wouldn't let that happen either.

Like I said, SDM will have ensured we are in good hands. It's early days yet, only the second day of Whyte's tenure. However, from what I've heard from Whyte, things seem promising on behalf of what he has said and he has come across

[SirWalterSmithLegend 206]

Thanks, that makes sense. too much scaremongering getting done with some.

That is only natural when good news comes out of Rangers.

[MosesMcNeil 1,664]

Its nonsense. They're just desperate.

The liability of Rangers FC for the debt to Lloyds, outwith the 4 million, is nil. It is in the takeover offer. They should probably read it before spouting pish.

Yep. Having read the facts and subsequently being forced to acknowledge the facts no longer suit their wettest of timmy dreams, it's time for the default attack position on all things Rangers: tell lies. Make it up. Remake, remodel, reinvent.

Here's a fact for the celtc minded - for years now we have been on our financial uppers and they could not best us. That makes for beautiful reading especially with our situation now vastly improved.

[Smile 26,622]

Yep. Having read the facts and subsequently being forced to acknowledge the facts no longer suit their wettest of timmy dreams, it's time for the default attack position on all things Rangers: tell lies. Make it up. Remake, remodel, reinvent.

Here's a fact for the celtc minded - for years now we have been on our financial uppers and they could not best us. That makes for beautiful reading especially with our situation now vastly improved.

They are hurting now more than ever. They have found out the gobblegiver and Spiers to be charlatans and liars who mollycoddled their persecution complex for some media credibility and to line their respective pockets.

Now they have to stick with the lies that at least makes them feel they weren't duped and led up the garden path.

[JM1872 3,745]

Yep. Having read the facts and subsequently being forced to acknowledge the facts no longer suit their wettest of timmy dreams, it's time for the default attack position on all things Rangers: tell lies. Make it up. Remake, remodel, reinvent.

Here's a fact for the celtc minded - for years now we have been on our financial uppers and they could not best us. That makes for beautiful reading especially with our situation now vastly improved.

Here's better reading, they haven't won a trophy, a single trophy, since March 2009.

[TheLawMan 6,240]

A lot of people saying on here we are debt free, but that aint the case.

We owed circa £8 million to non Lloyds companies as at 30th June 2010 and that figure MAY HAVE increased if we are paying up Jelavic and Beattie which is a distinct possibility.

As for Wavetower using the club as assets to secure the debt, whilst that certainly is NOT the case right now, there is an opportunity for them to do this in the near future.

Its known in football circles as "The Glazer shift"

[Smile 26,622]

A lot of people saying on here we are debt free, but that aint the case.

We owed circa £8 million to non Lloyds companies as at 30th June 2010 and that figure MAY HAVE increased if we are paying up Jelavic and Beattie which is a distinct possibility.

As for Wavetower using the club as assets to secure the debt, whilst that certainly is NOT the case right now, there is an opportunity for them to do this in the near future.

Its known in football circles as "The Glazer shift"

Boo Hoo Hoo.

Another one hurting..

[TheLawMan 6,240]

Boo Hoo Hoo.

Another one hurting..

Que ?

[dado1 23]

paypal

[Jimfanciesthedude 24,778]

Director of Operations at Bank Of Scotland to our board so be nice to have a proper financial heavyweight on board to help steer us right.

hopefully thats not the guy SDM was pally with that allowed us to run up debts when our income was shite

[Jimfanciesthedude 24,778]

A lot of people saying on here we are debt free, but that aint the case.

We owed circa £8 million to non Lloyds companies as at 30th June 2010 and that figure MAY HAVE increased if we are paying up Jelavic and Beattie which is a distinct possibility.

As for Wavetower using the club as assets to secure the debt, whilst that certainly is NOT the case right now, there is an opportunity for them to do this in the near future.

Its known in football circles as "The Glazer shift"

firstly, dry yer eyes ffs

secondly jelavic and beattie were paid up front, and that was stated by Lloyds

thirdly, dry yer eyes ffs

fourthly, Lloyds arent stupid enough to allow the debt to be moved from us and allow whyte to buy the club when they had SDM right where they wanted him

fifthly, dry yer eyes ffs

honestly your post reeks of clyde 1 phone in shite, and we all know what team they regular callers support

[spangles 7]

I wonder or there again not, which security and which secured loan the learned poster could be alluding to, that's what happens when you use someone or something else's piss to fill the pot.

http://www.gersnetonline.co.uk/vb/showthread.php?28859-Hang-your-heads-in-shame&p=255170&viewfull=1#post255170