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Record say Whyte has nothing....


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My own thoughts are that it will come down to one simple question:

Do you trust Whyte?

I don't. I have my reasons.

Basically, I think the fans, as a whole, are sleepwalking here.

Who is this guy? What is his record? How much hard cash has he put up front? Where did it come from?

What are his long-term plans?

Why did he release 100,000 season tickets from the "floating charge"?

How will we finance ourselves for the next three seasons if there is only a fraction of the season ticket cash left to finance us?

Lots of questions. Any answers? (No pipe this time. I don't find the issue remotely funny).

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A quick calculation is that 100,000 season tickets at 400.00 quid a pop = 40m pounds

Nevertheless if that is a way of raising cash then it may be ok if the cash is used in a clever way for Rangers FC. Is C Whyte not thought to be an expert in leveraging deals and cash?

I would not panic maybe our new owners are just very sharp business men. Which would be nice for a change.

Any sharp business members of RM who could explain this in a bit more detail if true?

On the other hand C Whyte had to convince Lloyds Bank and SDM that he had the money. So there is a level of comfort there.

Did he tho? he bought us for £1 and he has just moved the debt to a holding company. I may be wrong but I thought thats what's happened?

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We are all hoping that Whyte will be the defender of our club and its traditions that has been missing for so long, if this story is pish and he doesn't let them have it with both barrels, then what does that tell us about the kind of Whyte knight he will really be ?

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I was pretty much ridiculed for a similar point of view last week, by some of those "in the know"

Read the circular and take from it your own comfort, i found no comfort in the fact that the debt is still sitting there waiting to be played if we go into administration, its either paid off or not. The fact that we see continual inconsistencies in the master plan is a worry.

The point of mortgaging season ticket sales is a worry, if it is true, what income streams are they looking into to substain the costs we will incur when we no longer have the season ticket money coming in.

Craig Whyte may well have the whole thing sorted and we may be on the way to further dominance which is fine but he needs to send out a strong statement of intent by pulling these people or papers into line.

We as a fan base have the right to question something if we feel it needs to be done, not just roll over and toe the party line. When the man has runs on the board and we see the big picture then he will get the break he deserves.

What if he does take us into administration?

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Looks like the story had been lifted straight from a tim website tbh, a desperate piece of scaremongering from a paper that is dying on it's arse. Just remember this is a paper which have just let go half their staff because everyone ( on both sides of the old firm ) is sick of their constant lie peddling and have stopped buying it. I'm not 100% sure of mr Whyte but he should be given time to prove his intentions before nonsense like this starts getting printed..

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The Record is on it's last legs with redundancies and closure looming so they need a money maker and what better to get the Taigs clambering to buy their rag.....a story about Rangers..their favourite subject.

We'll soon see who has money and who doesn't and if it proves AJ was right about Whyte them we should run him out of town and if not then we should burn these rhags.

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It would be easily dealt with by allaying our fears in a couple of ways.

Deal with the press by issuing facts and taking them to task.

I am more than happy to go with the guy if he has a plan in place to pretty much make us become a substainable business without spunking millions on players we dont need. There was a lot of hard work put into getting Rangers to a point of financial acceptance he needs to continue that, not pander to the fans who want the players and team at any cost.

Dont take those of us questioning Whyte as negative to the cause, we want a strong vibrant Rangers but within a workable business plan.

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Can't agree more. Huge part of the debt paid off. I can't see us as being any worse off. Whyte hasn't borrowed money to buy us- Ala Glazers, Liverpool... blah blah blah. We used to have no money, bank was selling left right and centre. Even if we still have no money.... we're better off as hopefully we don't have to sell our best assets for a pittance just to please the Tie wearing Vultures and money men. After a decade of extravagance we're finally learning to live within our means and beginning to build a team that knows what the Jersey means. We may lack the silky skills of yesteryear, but with a fraction of the wagebill we are slowly resurrecting what it means to be a Ranger's player.

Ally is going to bring us into a whole new era of sustainability and pride for those players striving for success in a world full of footballing mercenaries.

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The article is now online - apparently based on 'Fans fear new Rangers chief Craig Whyte will follow financial model that almost ruined Leeds'.

Not a single quote from anyone willing to be named and none whatsoever from the club itself.

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ALLY MCCOIST will meet with Craig Whyte today to discover how much money he can spend this summer - as fears grow over how the new owner plans to fund a transfer spree.

McCoist has yet to be given the full details of his budget but with only two weeks until the start of the new manager's first pre-season, he has already made initial moves to bolster his squad.

He has urged Whyte to discover if Aston Villa will allow top target Carlos Cuellar to return to Ibrox.

And today, advisers of Israeli international Tomer Hemed will arrive in Scotland to discuss the striker's possible Bosman move from Maccabi Haifa.

But McCoist is still waiting to be told the full extent of his kitty, which is why he will sit down with Whyte today for a crucial round of face-to-face talks with the man who bought out Sir David Murray's controlling interest of the club for just £1 - in the face of fierce opposition from within the club.

Record Sport has been alerted to a Companies House document in the names of Whtye and his newly-appointed right-hand man in the boardroom, Phil Betts. This has raised concerns among prominent supporters at Ibrox.

The paperwork was lodged on May 26, just days after a night of the long knives that saw chief executive Martin Bain suspended and former chairman Alistair Johnston booted off the board.

And there are growing fears Rangers could be run along similar lines to the business models which forced English giants Leeds and Newcastle to the brink of financial ruin.

Analysts say the document - called an MG50 - could signal Whyte's intent to mortgage off the next four years' worth of season-ticket money as a security against some form of loan.

It was this kind of high-risk scheme which was blamed for the crisis that saw Leeds plummet into the third tier of English football and almost forced them out of business.

In 2007 Newcastle had to be rescued by Mike Ashley's £100million bailout after over-extending themselves with a similar strategy.

Now Rangers season-ticket holders will want to know where their hard-earned cash is going and if Whyte plans to use it to finance his initial takeover, which saw him agree to wipe out an £18million debt with Lloyds Bank.

Whyte has also pledged to hand McCoist an initial fighting fund of at least £5million, inject up to a further £5million as working capital and find almost £2million to refurbish parts of the stadium.

But one Rangers supporter with a background of financial expertise told us last night: "We have to be told if Mr Whyte is using our season ticket money to fund all of his promises.

"If that is indeed his intention then the long-term financial health of our football club could be exposed to serious risk.

"There are very glaring questions here which need to be answered."

But he will be speaking to McCoist today as the rookie Rangers manager finds out how much of Whyte's own money will be allocated to the bid to secure a fourth successive SPL crown.

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A football supporter with finance background ask if he will use the season ticket money, am I missing something is that not the whole point if bringing in money from such things as season ticket money, to spend in the club?

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A football supporter with finance background ask if he will use the season ticket money, am I missing something is that not the whole point if bringing in money from such things as season ticket money, to spend in the club?

Aye, but, well, but...you know, but...

It's the (new) order of the day at a once famed paper soon to become a regional sub-edition of the Mirror as its circulation continues to crumble.

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A football supporter with finance background ask if he will use the season ticket money, am I missing something is that not the whole point if bringing in money from such things as season ticket money, to spend in the club?

Not if you are spending four years worth at the one time.

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Keith Jackson is an ex-Rangers youths player.

He cares for our club as much as anyone on this board.

To dismiss what he says is purely burying-your-head-in-the-sand stuff.

Let's just concentrate on FACTS:

A form has been registered at Companies House showing that the "floating charge" over Rangers PLC has been released on approximately 100,000 season tickets over the next four years.

The signature as "creditor" is Philip Betts of Rangers FC Group (and, of course, Rangers FC Director).

The signature of Craig Whyte is also on the document.

The legal company mentioned is Clarke Willmott, registered in Bristol.

I am reliably informed that they act for Ticketus LLP. Check them out.

This strongly suggests that the rights to the sales of approximately 25,000 season tickets per season have been sold in advance for the next four years.

That's what the Leeds reference is.

There may be other explanations. Has anyone got one?

:sherlock:

No........that's not fact. That's your interpretation. The document reads TO ME that we have released all security of assets EXCEPT the season tickets.

I won't make the same mistake as your good self and claim it as fact though.

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