Dave King say could be administration by Xmas

[Big Al 55 9,307]

I agree, if you're going to use a papers story at least try and incorporate your own say into it rather than a simple copy and paste job.

Surely you are capable of that?

Pastes it then abuses everyone who comments

[STEPPS BOY 75,034]

By all accounts Walter left because of Greens return.

If green hadn't returned was Walter along with Mather just going to sit there and allow us to drift along to an insolvency event? ( as per King)

Articles like this are propaganda, no more no less.

[Bluepeter9 5,167]

Dave king is not stupid shoe knows there is no chance of administration by Xmas so either he is scaremongering or story is shite,

Why will we not be on admin? Given our recent history does anyone else actually believe the current board, no matter what there position or long term motives for themselves are would allow costs in year two to be greater than income? Yes we will make a loss year one based on one off costs but no one - those who want to make money - those who want success - or both would be stupid enough to do that - I don't know the end game of some board members or shareholders but none of them are stupid and none of them want share depreciation so costs will not exceed income. Someone or more have driven the price down - only people who win in that scenario is someone looking to buy the club and that could well be king !

But administration by Xmas no chance!

[scarkev 3,540]

How would King know?

Is he a major shareholder or director that has access to the books to forecast such predictions?

Maybe he's sincere and I'm doing him a disservice - I'd hate to think he'd stoop so low with scare tactics such as this to get his own way

When it comes to power and money its best to never assume how low/devious people will go to get what they want mate......As you say perhaps King is genuine here but to me it seems more of a scare tactic to drive down the share price and to get institutional investors worried and willing to sell to him.....

[SkiBunny 441]

Pastes it then abuses everyone who comments

He certainly has an agenda.

[TheLawMan 6,240]

Rangers bidder Dave King last night claimed the Ibrox club will be in administration by Christmas unless Charles Green lowers his asking price and sells up.

Despite losing £20million from a previous investment in the club, the former director is willing to plough more of his personal fortune into a controlling stake in Rangers.

Branding the current share asking price ‘absurd’, however, the South Africa-based businessman says he won’t pour his cash into the back pockets of Green and his associated investors if it means having nothing left for players.

Warning: King says that Rangers could be in administration by Christmas if Green does not sell up

Green has already told potential takeover groups, including businessman Jim McColl and former director Paul Murray, that he wants £14m for a 28 per cent stake.

However, keen to see the club recapitalised via the issue of new shares, King says the Yorkshireman and his cohorts risk losing everything unless they compromise over their selling price.

Speaking to Sportsmail, King said: ‘There is an inevitability to the fact the people currently operating Rangers are going to run out of cash.

‘The club raised £22m via an IPO (Initial Public Offering) and that was whittled down to virtually nothing.

‘I think it was down to £5m or £6m in the bank and has now got a boost via season-ticket sales.

‘But the way directors are spending money on Green’s consultancy fees and other things, I don’t think they will make Christmas.

Not happy: Rangers fans staged a sit-in protest at Ibrox following the friendly against Newcastle

Not happy: Rangers fans staged a sit-in protest at Ibrox following the friendly against Newcastle

A small group of Rangers fans refuse to leave after the full-time whistle

‘The question then is: when they go to the markets again, are they going to find other investors willing to put more money in the club?

‘We had all these guys come in and buy into Green’s business plan. They paid 70p a share and witnessed those shares lose value very, very quickly.

‘They are not going to increase their holding and other investors are going to be very, very wary.

‘So if they get to the point where they are close to administration again by Christmas and the season-ticket money is gone and they have the same high overheads and are running out of cash, they will be faced with administration again.

‘And what that will mean is all the shareholders — including Green — losing all their money. In which case, they will have to be realistic about their demands at that stage.

‘The club is being run on the basis of protecting shareholder value — particularly by those who paid nothing for the shares and want to make something.

‘It’s a question of Green making £2m, £3m or whatever. He regards that as his compensation for what he thinks he has achieved.

Gone: Walter Smith resigned as Rangers chairman after the return of Green

‘But the way it’s going right now, he could end up with nothing.

‘His priority currently is to make sure he gets something. And he will continue doing that.

‘But the result of that is simple. The club will run out of money.’

King accurately predicted liquidation after Craig Whyte’s reign ended in administration, chaos and financial meltdown.

And he has no wish to see history repeat itself.

Free of financial restrictions — following a confidential agreement with the South African Revenue Service and the unfreezing of his UK assets — the Glaswegian still faces criminal charges in his adopted homeland.

But King believes there is no impediment to his being declared a fit and proper person by the SFA and returning to the Rangers boardroom.

No holding back: Rangers manager Ally McCoist criticised Green after the former chief executive said that the Ibrox club had to win a cup as well as the league this season

‘I am absolutely 100 per cent certain that none of these factors are an issue at the present moment,’ he insisted.

The greater obstacle remains Green’s insistence on seeking 70p for shares that are currently worth just over half that on the stock market.

‘The current regime have made offers of shares to me at various stages and various levels,’ he added.

‘But the amounts on offer are insufficient to exercise any real control — and I have regarded the share price they have been asking for as absurd.

‘The value they place on their shares is still vastly over-inflated.

‘My view is quite simple. I am happy to put money into the club because I think the club needs money.

‘I am happy to be part of a recapitalisation of the club. But my preference would be to be issued with new shares. And the money I provide must go into the club.

‘And it must be properly controlled and properly managed.

‘Certainly, I don’t see myself or anyone else, frankly, putting money in to pay these guys off.’

Read more: http://www.dailymail...l#ixzz2bKZR0TE5

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Always a bundle of laughs is King, trying to force the price down again more like it.

My views is that on some fronts, i think he is right about administration. I dont think its Christmas but we are certainly not awash with cash, or not as well off as some think. I really hate to say it, and i havent until now, but i was one of a very few voices back in Aug/Sep 2011 that was constantly saying that we were heading for a train crash under Whyte and that it was my opinion, we were heading for administration back then.

However, he talks about Greens fees being pais, yet he is on record as stating his fees are £1000 per month which isnt going to bankrupt us.

The real issue, and it wont go away, is being caused by over investment in football matters.

£1.3 m on the management team.

Buying 8 SPL players to try and win the "2nd division"

Paying £1m + to get rid of Boca and Goian

£7m player budget, which is more than double the bottom half of the SPL teams despite being 2 divisions lower

Constant failure in Cup Competitions due to an inept manager reducing income.

Theres where the problem lies.

I 100% understand that the likes of McColl and King would want any money they invest to go into the club and not investors back pocket, but they have to get real. Both of them are not stupid. Both of them, if they indemnified £2m of costs, raised £6m in investment in June 2012, then a further £22m in investment in December 2012, would be looking for some return on the work they put in.

Greens consortium deserved to paid off. Not at the 70p or £1 that he wants mind you, but at the simple going rate of the shares.

For the record, i dont want King nor Paul Murray anywhere near the club. I dont want any of the past Boards to be involved, and i include Walter in that as well now.

I would however be happy at McColl being involved as he has a clear track record of running businesses efficiently, which is exactly what we need right now

[Carsons Dog 9,878]

Ah but you don't understand, it's not as simple as that. I'm Jim McColl, I have £billions and I won't stand by and watch Rangers go over the cliff (again, as I did last year). Instead, I'll insist the current board are all sacked, I'll dictate who sits on the new board, I'll tell other people to buy Charles Green's shares and then I'll ask Dave King to invest his money in the club.

That's the way I am. I just can't stand by and do nothing.

And how many shares do you have Jim?

[RFC82 15]

Its hard to put trust in anyone through this sorry saga, but reading this is not good and theres no way it can just be brushed under the carpet.

I didnt want to believe it, but its starting to look like Green has been told by the major investors "get your arse back in there and rescue our returns".

Somebody needs to come clean with the harsh facts and stop blowing smoke up our arse.

[scarkev 3,540]

Can someone explain to me the idea behind King's prospective idea of issuing new shares? Would that not dilute the value of current shares thereby putting fans who invested out of pocket (again)? Surely if King/Mccoll etc really wanted to take control or to sort out the board the best course of action would be to meet with Green and his group (in private) and negotiate a deal for a controlling stake instead of all this constant jostling and pandering in the media? Once again its the fans who are left confused and frustrated whilst being asked to choose a side......

[blue No11 235]

He's the only guy to put hard cash into the club in the past,lost the lot and willing to take the club on again. He's 100% Blue and has my support.

[bawsburst 1,381]

Cops and press at Auchenhowie.

[Right_To_Censor 1,951]

Another cuntp trying to drive the prize down, where the fuck were these bastards when they could have bought us for pea nuts?

Fucking sick of these so called rangers coming out the woodwork saying this that and the other, they had their chance

[1st_Jan_1994 4,868]

Cops and press at Auchenhowie.

Really?

[CaptainofIndustry 921]

And how many shares do you have Jim?

Err, that's not the point. My money is not necessary here. What's needed is Dave King's money. And we don't any opportunists from other countries calling the shots at Rangers. We need a return to the old traditional ways, where a guy under house arrest in South Africa puts in piles of money while I sit here in Monaco telling everyone what to do. Right, got to go. My friend Craig's coming round with more audio tapes of meetings he held last year with that charlatan, Charles Green.

[MosesMcNeil 1,664]

Cops and press at Auchenhowie.

How did you manage so many posts without being banned?

[Carsons Dog 9,878]

Err, that's not the point. My money is not necessary here. What's needed is Dave King's money. And we don't any opportunists from other countries calling the shots at Rangers. We need a return to the old traditional ways, where a guy under house arrest in South Africa puts in piles of money while I sit here in Monaco telling everyone what to do. Right, got to go. My friend Craig's coming round with more audio tapes of meetings he held last year with that charlatan, Charles Green.

Is Mr Salmond joining you for dinner Jim?

[Right_To_Censor 1,951]

Moses he's right, press are there now (morning brief no doubt or could be worse)

[1st_Jan_1994 4,868]

Moses he's right, press are there now (morning brief no doubt or could be worse)

Police and press don't show up for every morning brief surely?

[Right_To_Censor 1,951]

I don't see the police, I do see quire a few people with boom mics or whatever its called

Its just the morning brief

[bawsburst 1,381]

Police and press don't show up for every morning brief surely?

Don't know the full details yet, was a very long meeting at Auchenhowie yesterday which finished very late, cops may have been traffic cops don't know that yet either just know cops were there, Far to early for any normal press briefing, see what else we can find out.

[Albertz 78 918]

A nonsense scare tactic to drive the price down nothing more.

Clubs don't go into Administration cause they have short term cash flow problems if that were the case almost every club in the world would have been in admin by now.

Bottom line is we have no debt and just sold 35,000 season tickets, if Green thought things were in as bad a mess a as king makes out we would be seeing massive cut-backs and sale of players doubt we would have signed 8 new players this summer either or be talking about spending £1m on wifi.

It's this kind of crap that the mHedia will feed off to try and destabilize even more now.

Time for him or anyone else who wants to buy the club to put up money or bolt and let us get on with things.

[elephants stoned 2,994]

Right on cue here Is the South African tax fraudster to scare us straight with talk of admin. I'm so sick of all these failed bidders or hangers on trash talking our club that even if they are right I won't give them any credit for it because they are only doing this for themselves to try and get Rangers without paying the going rate for us. Say no to scaremongering bully boys!

[californiadreamin52 339]

Will we head the warn or choose to bury our heads again “Those who do not learn from history are doomed to repeat it

[1st_Jan_1994 4,868]

A nonsense scare tactic to drive the price down nothing more.

Clubs don't go into Administration cause they have short term cah flow problems if that were the case almost every club in the world would have been in admin by now.

Bottom line is we have no debt and just sold 35,000 season tickets, if Green thought things were in as bad a mess that king makes out we would be seeing massive cut-backs and sale of players doubt we would have signed 8 new players this summer either or be talking about spending £1m on wifi.

It's this kind of crap that the mHedia will feed off to try and destabilize even more now.

Time for him or anyone else who wants to buy the club to put up money or bolt and let is get on with things.

Common sense

[1st_Jan_1994 4,868]

Will we head the warn or choose to bury our heads again “Those who do not learn from history are doomed to repeat it

Evidence?