Colonel Mustard 380 Posted January 31, 2012 Share Posted January 31, 2012 Now just whoa there brethren. Listen to what I have to say before jumping in.I don't know if there is going to be anything concrete in what the Rebel is going to be alleging shortly, but let's look at a hypothetical situation where Whyte actually DID mortgage the ST money for 3 years.Let's say he had been tipped the wink that the tax case had gone tits up and we owed say £40m.Let's also say that he needed to pay them off immediately, to buy time to raise the money to get back to normality.Would you accept raising the cash from such a mortgage, then accept living on a REAL shoestring for 3 years, to avoid us having to go into administration?If it raised enough money, and meant we carried on without money for a short period...I'd accept that.It would be much better than the alternative.disclaimer...(I'm no financial expert, and just talking in general terms about a loan). Quote Link to post Share on other sites More sharing options...
D'Artagnan 13,319 Posted January 31, 2012 Share Posted January 31, 2012 I read elsewhere CM he gave a pledge to the Stock Exchange that he would not do this.. Quote Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted January 31, 2012 Share Posted January 31, 2012 Were living on a real shoestring budget as it is. If were banking on mortgaging our season ticket money to keep our heads above water. Sooner or later when crowd do start to fall, we go back to the brink sooner rather than later. Quote Link to post Share on other sites More sharing options...
Ger for life 199 Posted January 31, 2012 Share Posted January 31, 2012 Can't claim to be a financial expert but would such an action not have required the permission of the club shareholders? Quote Link to post Share on other sites More sharing options...
Columbo 588 Posted January 31, 2012 Share Posted January 31, 2012 Can't claim to be a financial expert but would such an action not have required the permission of the club shareholders?I'm no financial expert either but I think he owns enough of the club to make the decision without having to consult other shareholders Quote Link to post Share on other sites More sharing options...
Colonel Mustard 380 Posted January 31, 2012 Author Share Posted January 31, 2012 I read elsewhere CM he gave a pledge to the Stock Exchange that he would not do this..I didn't know that.I'd rather do something like that though, and roar on some youths and journeymen on wallies for 3 years, than go into admin.My head's spinning trying to think of ways to carry on without punishment if the worst came to the worst. I suppose Whyte's is too. Quote Link to post Share on other sites More sharing options...
minstral 5,375 Posted January 31, 2012 Share Posted January 31, 2012 I didn't know that.I'd rather do something like that though, and roar on some youths and journeymen on wallies for 3 years, than go into admin.My head's spinning trying to think of ways to carry on without punishment if the worst came to the worst. I suppose Whyte's is too.Has Whyte not pulled the club out of the stock exchange. Quote Link to post Share on other sites More sharing options...
Colonel Mustard 380 Posted January 31, 2012 Author Share Posted January 31, 2012 Were living on a real shoestring budget as it is. If were banking on mortgaging our season ticket money to keep our heads above water. Sooner or later when crowd do start to fall, we go back to the brink sooner rather than later.That's where loyalty and love of Rangers would be tested.I'd rather roar on some players trying to keep us mid table for a few years, than the alternative.Hopefully we'd all feel the same. Quote Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted January 31, 2012 Share Posted January 31, 2012 The question would be if he has gone down this route, what's next. If we have to raise funds next. Ibrox stadium, Murray Park? Let's just hope it's speculation. Quote Link to post Share on other sites More sharing options...
bluebellsareblue82 15 Posted January 31, 2012 Share Posted January 31, 2012 Could only have mortgaged 90% of the ST money so we must have had the 10% deposit so hence we have/had money or did we ?maybe the daily record will know :anguish: :anguish: Quote Link to post Share on other sites More sharing options...
Colonel Mustard 380 Posted January 31, 2012 Author Share Posted January 31, 2012 Has Whyte not pulled the club out of the stock exchange.I'm not sure what the ramifications of that are minstral. Does that really matter?Get Bluedell on. Quote Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted January 31, 2012 Share Posted January 31, 2012 That's where loyalty and love of Rangers would be tested.I'd rather roar on some players trying to keep us mid table for a few years, than the alternative.Hopefully we'd all feel the same.Oh it would be tested, but. In reality. We all know our crowds would start to dwindle if we were finishing mid table. History has proven this to be the case. Quote Link to post Share on other sites More sharing options...
Ger for life 199 Posted January 31, 2012 Share Posted January 31, 2012 I'm no financial expert either but I think he owns enough of the club to make the decision without having to consult other shareholders Cheers mate, I must stress I'm in the dark about all of this just wish the whole thing and dusted the not knowing is the hardest thing to deal with. Hopefully we can come out of this unscathed.Today will also be interesting re new arrivals (if any!) Quote Link to post Share on other sites More sharing options...
minstral 5,375 Posted January 31, 2012 Share Posted January 31, 2012 I'm not sure what the ramifications of that are minstral. Does that really matter?Get Bluedell on.Not sure Colonel, was just with people saying he gave his word to the stock exchange, but my opinion is we will be okay and just bullshit by people who hate our club. Quote Link to post Share on other sites More sharing options...
D'Artagnan 13,319 Posted January 31, 2012 Share Posted January 31, 2012 I read elsewhere CM he gave a pledge to the Stock Exchange that he would not do this..Postcript..Apparently its a written pledge ie he signed documents assuring them he would not do this. Quote Link to post Share on other sites More sharing options...
Colonel Mustard 380 Posted January 31, 2012 Author Share Posted January 31, 2012 Not sure Colonel, was just with people saying he gave his word to the stock exchange, but my opinion is we will be okay and just bullshit by people who hate our club.I'm in total agreement with this. I was just musing over a worst case scenario. Quote Link to post Share on other sites More sharing options...
Thermopylae 15,286 Posted January 31, 2012 Share Posted January 31, 2012 The sad thing is one more years CL money would probably have made a big difference because it's difficult to see where we can make enough money in the SPL to get out of this hole. Suppose it still all depends how much the tax bill is ... indeed I would be surprised if Whyte has commited himself to this scheme without knowing how much that will be Quote Link to post Share on other sites More sharing options...
TheBloubellsAreBlouie 209 Posted January 31, 2012 Share Posted January 31, 2012 I'm actually crying here, no, really, I am. Quote Link to post Share on other sites More sharing options...
Colonel Mustard 380 Posted January 31, 2012 Author Share Posted January 31, 2012 I'm actually crying here, no, really, I am.What for? Quote Link to post Share on other sites More sharing options...
GMac 1,405 Posted January 31, 2012 Share Posted January 31, 2012 Why is this different than any other loan anyway? All loans/mortgages are taken out based on future income. Our main income is season ticket money. Quote Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted January 31, 2012 Share Posted January 31, 2012 It is a term of the shareholders circular that he would not do this.Furthermore, if, and it is and if, he has raised this money to pay the £18m bank debt then he can take himself and get to fukk back to Monaco on the next plane.Ive always feared and spoken about a Glazier type transaction and Whyte better have not pulled this trick.Would mortgaging season ticket money be bad.Bad ??Its a fukkin disaster. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted January 31, 2012 Share Posted January 31, 2012 looks like we will find out soon enough. Quote Link to post Share on other sites More sharing options...
neilstonloyal 186 Posted January 31, 2012 Share Posted January 31, 2012 a cant wait till a win the euro millions and tell craig whyte to sling his hook Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,493 Posted January 31, 2012 Share Posted January 31, 2012 how could he possibly mortgage the next 3 seasons ticket sales, simply because no one knows how many rangers will shift over the next 3 yearsthats like ordinary joe bloggs going for a loan and saying to the bank "i can afford 300 quid a month payments, i dont work the now but im looking for a job and hopefully get one in the next month or 2"it must be one load of shite, no company is going to turn round and allow especially us to do this Quote Link to post Share on other sites More sharing options...
AGM_72 3,604 Posted January 31, 2012 Share Posted January 31, 2012 how could he possibly mortgage the next 3 seasons ticket sales, simply because no one knows how many rangers will shift over the next 3 yearsthats like ordinary joe bloggs going for a loan and saying to the bank "i can afford 300 quid a month payments, i dont work the now but im looking for a job and hopefully get one in the next month or 2"it must be one load of shite, no company is going to turn round and allow especially us to do thisThis is how I've been looking at it. I can't see how it can be true. I mean, after all our financial issues who in their right mind would then go for a deal like this? Quote Link to post Share on other sites More sharing options...
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