Carsons Dog 9,878 Posted April 10, 2012 Share Posted April 10, 2012 The Rangers Supporters Trust. Buying shares in Rangers to bring the club back to the fans.Maybe its time they changed that mission statement. Quote Link to post Share on other sites More sharing options...
iconicman 8 Posted April 10, 2012 Share Posted April 10, 2012 Why? Should the club not be owned by the fans? Or do you think the club isn't going to be around to buy shares in? Quote Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted April 10, 2012 Author Share Posted April 10, 2012 Why? Should the club not be owned by the fans? Or do you think the club isn't going to be around to buy shares in?WHOOOOOOOOOOOOOOOOOOSH Quote Link to post Share on other sites More sharing options...
Frankie 505 Posted April 10, 2012 Share Posted April 10, 2012 I guess they'll purchase more shares with the GerSave money if/when the Blue Knight bid is successful.To that end, I'm getting more and more concerned about the lack of info on how their Ticketus loans are secured. RST Twitter account suggested to me this morning loan security may be based on 'assets'?Does this mean club assets such as the stadium or training ground? Don't fancy the mortgage route.I'd be astonished if PM felt this was a good idea.Fan groups must find out if this is true as a matter of urgency. Quote Link to post Share on other sites More sharing options...
iconicman 8 Posted April 10, 2012 Share Posted April 10, 2012 I suppose they could writeThe Rangers Supporters Trust. Buying shares in [Rangers Football Club plc or successor company/vehicle following current administration process, assuming new owners are willing to sell or that the club continues to survive, and really if liquidation is where we end up then we'll be involved with new founders to keep Rangers going] to bring the club back to the fans.Not quite as catchy though....what do you think? Quote Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted April 10, 2012 Author Share Posted April 10, 2012 I guess they'll purchase more shares with the GerSave money if/when the Blue Knight bid is successful.To that end, I'm getting more and more concerned about the lack of info on how their Ticketus loans are secured. RST Twitter account suggested to me this morning loan security may be based on 'assets'?Does this mean club assets such as the stadium or training ground? Don't fancy the mortgage route.I'd be astonished if PM felt this was a good idea.Fan groups must find out if this is true as a matter of urgency.Maybe some of these upstanding Glasgow journalists could ask the questions Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted April 10, 2012 Share Posted April 10, 2012 To that end, I'm getting more and more concerned about the lack of info on how their Ticketus loans are secured. RST Twitter account suggested to me this morning loan security may be based on 'assets'?Surely TBK aren't going to mortgage Ibrox to Ticketus? Tell us it's not so. Quote Link to post Share on other sites More sharing options...
BEARGER 339 Posted April 10, 2012 Share Posted April 10, 2012 Aye lets make cheap shots at people who want the fans to have a say in our club, bunch of dafties. What we need is another "millionaire" they know what's best for us. Quote Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted April 10, 2012 Share Posted April 10, 2012 Surely TBK aren't going to mortgage Ibrox to Ticketus? Tell us it's not so. Future future season tickets? Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted April 10, 2012 Share Posted April 10, 2012 overdrafts are ways secured against assets as are loans. weren't lloyds for example. I know celtcs are. Quote Link to post Share on other sites More sharing options...
Frankie 505 Posted April 10, 2012 Share Posted April 10, 2012 overdrafts are ways secured against assets as are loans. weren't lloyds for example. I know celtcs are.Are you saying you'd be comfortable with any deal with Ticketus being secured on Ibrox Stadium? Quote Link to post Share on other sites More sharing options...
iconicman 8 Posted April 10, 2012 Share Posted April 10, 2012 Are you saying you'd be comfortable with any deal with Ticketus being secured on Ibrox Stadium?Securing the debt on Ibrox or anything else is standard, I'd be more interested in what the payment terms were and whether they were affordable.Rest assured every other bidder will be raising debt and securing it against the clubs assets. Quote Link to post Share on other sites More sharing options...
Frankie 505 Posted April 10, 2012 Share Posted April 10, 2012 Securing the debt on Ibrox or anything else is standard, I'd be more interested in what the payment terms were and whether they were affordable.Rest assured every other bidder will be raising debt and securing it against the clubs assets.We've had years of people criticising MIH and now Whyte for mortgaging income against assets.Ng bid apparently offers no debt so assets will not be put at risk. Clearly, there is a lot to think about for bears here. Quote Link to post Share on other sites More sharing options...
iconicman 8 Posted April 10, 2012 Share Posted April 10, 2012 We've had years of people criticising MIH and now Whyte for mortgaging income against assets.Ng bid apparently offers no debt so assets will not be put at risk. Clearly, there is a lot to think about for bears here.Mortgaging income is pretty suicidal for anything but a tidy over for a few months. What Whyte did was ludicrous.For all I really dislike SDM, the loan he arranged was amazing, something like £30m at £1m per year, well within our ability to pay.I haven't seen the details of the bids, but I'm surprised at Ng bid having no debt. How does he intend to get around the fact Ticketus own half our ST income for the next 4 years? I would have though every bidder would be doing a deal with them and raising bank debt to pay off Ticketus. Quote Link to post Share on other sites More sharing options...
Frankie 505 Posted April 10, 2012 Share Posted April 10, 2012 Mortgaging income is pretty suicidal for anything but a tidy over for a few months. What Whyte did was ludicrous.For all I really dislike SDM, the loan he arranged was amazing, something like £30m at £1m per year, well within our ability to pay.I haven't seen the details of the bids, but I'm surprised at Ng bid having no debt. How does he intend to get around the fact Ticketus own half our ST income for the next 4 years? I would have though every bidder would be doing a deal with them and raising bank debt to pay off Ticketus.Yes, I said throughout that Ticketus will be eager to do a deal with any bidder and given the Knights publicised their deal, I'm sure negotiations will have been done on that front - either to pay them off or to lump them in with the CVA.I'm sure I heard something about Ticketus consulting ten different legal firms about the season ticket deal before finding one that gave them legal comfort. I think they're in a very weak position but what they do have is the ability to deliver Whyte's holding. Quote Link to post Share on other sites More sharing options...
TannochsideBear 355 Posted April 10, 2012 Share Posted April 10, 2012 Ticketus are providing an overdraft facility to TBK if they are successful to the tune of up to £10M as I understand it.As for security, as always it will be by way of a floating charge as in every business.I have grave concerns over the bids and the way they are structured, but a floating charge over a £10M od facility is not one of them.I would think a floating charge, including over Ibrox Stadium, has been in place at the club for decades. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted April 10, 2012 Share Posted April 10, 2012 Are you saying you'd be comfortable with any deal with Ticketus being secured on Ibrox Stadium?Murray park would be more usual or season books. standard practice for loans and overdrafts I would say. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted April 10, 2012 Share Posted April 10, 2012 Securing the debt on Ibrox or anything else is standard, I'd be more interested in what the payment terms were and whether they were affordable.Rest assured every other bidder will be raising debt and securing it against the clubs assets.the deal for repayment is its to be repaid over 9 years. first two years no repayment then 7 payments thereafter. unless we aren't in europe then that year's repayment is waived. the blue knights plan is to make us sustainable without European football. the wage bill for players will be around the 16 million mark that season books bring in. the other 16 million or so we bring in will cover other costs and any euro income will fund extra for players but sustainably. if we earn 7 million that will buy a 2 million pound player on a 5 year contract at 20k a week for example. clearly the ticketus deal will cut into that. Quote Link to post Share on other sites More sharing options...
Shane 338 Posted April 10, 2012 Share Posted April 10, 2012 So, again, Murray's plan is about half a step out of line with Whyte's, and the RST is right up his ass for nothing more than a revolving seat in the directors' box.Got any more sound advice why TBKs bid is miles ahead of the pack, GS? ffs.... Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted April 10, 2012 Share Posted April 10, 2012 So, again, Murray's plan is about half a step out of line with Whyte's, and the RST is right up his ass for nothing more than a revolving seat in the directors' box.Got any more sound advice why TBKs bid is miles ahead of the pack, GS? ffs.... I'm just describing the bid. the admins will decide what's leading the pack. Quote Link to post Share on other sites More sharing options...
Shane 338 Posted April 10, 2012 Share Posted April 10, 2012 I'm just describing the bid.....in the glossiest terms possible. Quote Link to post Share on other sites More sharing options...
iconicman 8 Posted April 10, 2012 Share Posted April 10, 2012 Certainly that is how the club should have been run for a long time and should be run going forward. The absolute last thing we want to do is be back in this situation (ala Portsmouth) in a year or 2 when some bidder's projections haven't come to fruition. Quote Link to post Share on other sites More sharing options...
Shane 338 Posted April 10, 2012 Share Posted April 10, 2012 It'd be more believable if they had cash to back up their sound ideas instead of a credit line to our season tickets. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted April 10, 2012 Share Posted April 10, 2012 ....in the glossiest terms possible.its the way it is. Quote Link to post Share on other sites More sharing options...
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