TheLawMan 6,240 Posted February 2, 2014 Share Posted February 2, 2014 Give it a rest dafty .I too THINK the club has been spending more than its taking in and has been for years , but i dont know for sure because i don't have all the figures in front of me .This idiot comes on here and states facts that come straight from his mind , he knows no more than anyone else on here but it never stops him running his mouth with complete untruths.As for my businesses , i work when i feel like it , its a nice position to be in and i can do it because i never spent more than i took in .Its not rocket science.Something all at Ibrox should learn , and quickly ........The only idiots in this equation are the ones who think we turned a £14m loss into profit in 7 months. The likes of you, with your head in the sand are every bit as dangerous as the requisitioner fan boys spreading lies and myths about spivs and crooks. I will repeat though. Our income does not already outstrip our expenses. 100% fact. Quote Link to post Share on other sites More sharing options...
ritchieshearercaldow 22,242 Posted February 2, 2014 Share Posted February 2, 2014 Could the source be Stockbridge? if a current board member they need to be found an black balled Quote Link to post Share on other sites More sharing options...
ArchibaldLeitch 380 Posted February 2, 2014 Share Posted February 2, 2014 That was not down to his quote. It was down to folk deliberately misquoting or half quoting what he said to mislead.Just like it was used in this thread.There is a massive difference between him saying we will be down to less than a million by April and Our current cash will be down to less than a million by April (in the worstcase scenario), but tthat does not include retail cash which weeexpect to be substantial and even then we have an unsecured borrowing facility of 3 million.Anyone simply quoting the first part is being deceptive and is at it.So pointing out what stockbridge said, accepting there have been several interpretations, mine being he inferred we are losing a million a month and were down to the last million come april i am either being deceptive or i am at it?Hows that? Why are you supportive of a man who oversaw record losses at our club? Quote Link to post Share on other sites More sharing options...
Bheast Skelper 411 Posted February 2, 2014 Share Posted February 2, 2014 Give it a rest dafty .I too THINK the club has been spending more than its taking in and has been for years , but i dont know for sure because i don't have all the figures in front of me .This idiot comes on here and states facts that come straight from his mind , he knows no more than anyone else on here but it never stops him running his mouth with complete untruths.As for my businesses , i work when i feel like it , its a nice position to be in and i can do it because i never spent more than i took in .Its not rocket science.Something all at Ibrox should learn , and quickly ........ Businessman of the year. You blow your own trumpet about yer business past more than Paul Failure Murray.That Idiot, as you call him, Lawman, handed you your own arse in here in front of a full house and you still don't pipe down.Do yerself a favour. Accept that you got it wrong and move on man. Quote Link to post Share on other sites More sharing options...
Corky True Legend 2,682 Posted February 2, 2014 Share Posted February 2, 2014 At least we are arguing on here and not giving that shite newspaper hits to discuss it on their site. RM rules OK! Quote Link to post Share on other sites More sharing options...
Viva La Vuvuzela! 13 Posted February 2, 2014 Share Posted February 2, 2014 Businessman of the year. You blow your own trumpet about yer business past more than Paul Failure Murray.That Idiot, as you call him, Lawman, handed you your own arse in here in front of a full house and you still don't pipe down.Do yerself a favour. Accept that you got it wrong and move on man.He fought the Law and.... Quote Link to post Share on other sites More sharing options...
nachothelegend 1,932 Posted February 2, 2014 Share Posted February 2, 2014 These daft pieces could be helpful.Lets just fill the comments section of them all with barrages of posts about the land deals.They put a gag on you and dont post them. Quote Link to post Share on other sites More sharing options...
Bheast Skelper 411 Posted February 2, 2014 Share Posted February 2, 2014 He fought the Law and....Lawman won Quote Link to post Share on other sites More sharing options...
Viva La Vuvuzela! 13 Posted February 2, 2014 Share Posted February 2, 2014 Lawman won Quote Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted February 2, 2014 Share Posted February 2, 2014 Could the source be Stockbridge? if a current board member they need to be found an black balledIm pretty sure the article says it is an investor who has claimed it and "the Rangers source" has denied it completely.As someone else suggested, this could simply be a dhim who has bought shares and is muck raking. I absolutely believe Phil 4 names has shares and there are a few other prominent bloggers of his ilk the same.They are clearly not well in the head. Quote Link to post Share on other sites More sharing options...
gmcf 34,645 Posted February 2, 2014 Share Posted February 2, 2014 You should stop the argueing - it's just what they want , divisiveness. Pretty sure Rangers will make some sort of statement about this .And equally sure they will call it for what it is - a load of crap. Quote Link to post Share on other sites More sharing options...
Viva La Vuvuzela! 13 Posted February 2, 2014 Share Posted February 2, 2014 You should stop the argueing - it's just what they want , divisiveness.Pretty sure Rangers will make some sort of statement about this .And equally sure they will call it for what it is - a load of crap.Surprised they haven't done so yet, only a matter if time. Wallace and our legal team should both release briefs in due course - the fact that the tabloid report may be libelous is no doubt delaying the official Statement, hopefully it will not miss when released, these cretins need to be told in no uncertain terms.In fact Sandy Easdale would probably be better delivering the riposte, that would shut the haters up. Quote Link to post Share on other sites More sharing options...
OlegKuznetsov 10,816 Posted February 2, 2014 Share Posted February 2, 2014 Thought this might be useful, even if it is just largely reiterating stuff said earlier in the thread. Stockbridge: Rangers will be down to last £1m by AprilRichard WilsonSports writer Friday 11 October 2013BRIAN STOCKBRIDGE, the Rangers finance director, has revealed that the club will only have around £1m of its cash reserves left by April.The figure does not take into account revenue that will be generated by Rangers Retail, and it is at the time of year when clubs are traditionally at the low point of their financial cycle, just before season tickets are put on sale, but the projection emphasises the tight margins the club is operating within.Stockbridge revealed that April next year would be the low point for Rangers' cash balance - which the annual accounts last week revealed was £11m at June this year - during a question-and-answer session with representatives of the club's three main supporters groups.The meeting was also attended by Craig Mather, the chief executive, and addressed a number of issues, including the £5.6m costs associated with bringing investment in through selling shares, the remuneration packages of the executives and the forthcoming annual meeting."[in] April next year, we will have over a million plus; we will also have an optional unsecured facility provided should we need it," said Stockbridge. "[Rangers Retail] figures are ahead of budget. I can't give price sensitive information, but we and Sports Direct are absolutely happy with the results this year. We will extract profit by dividend whenever we want."[The] pre-IPO fees are high, [it was a] large cost to secure the club - at time of acquisition there was no licence to play football and it was risky private investment and that attracts high costs. [The] fees paid were commensurate with normal legal and professional fees but the other costs were high. I came in on 14th June by which time these costs were already fixed."Stockbridge was also asked about share capital return payments to investors such as Eurovestech and Alan Mackenzie. "There were no illegal returns of capital," Stockbridge said. The finance director also admitted that "with hindsight, I should have been rewarded for financial performance not football", after receiving a 100% bonus of £200,000 for Rangers winning last season's Third Division title. He has now "voluntarily agreed to remove" that bonus payment.A Court of Session hearing on Monday will judge whether or not shareholders seeking the appointments of Paul Murray, Malcolm Murray, Scott Murdoch and Alex Wilson to the board will be allowed to include those nominations in the annual meeting's order of business. The current board had blocked those nominations after claiming they were not made validly, which Mather defended, before confirming that he would like to see the return of Dave King, the former Rangers director who has also offered to provide investment."I'm not against [new directors being nominated] but we have to do things legally and properly," said Mather. "I'm happy to add to the dynamic on the board. Dave King rang me and I was happy to meet and talk. [King] is not part of any team or conspiracy - he's an individual who cares about Rangers. We had two days of very positive discussions with him and working with the existing team."The two executives also pledged to clarify one of the resolutions contained in the order of business for the annual meeting, with Resolution 9 seeming to allow directors and employees to make a loan which would then be converted into equity at a nominal value of 1p per share, essentially meaning that for an investment of £66,000, they could receive 6.6m shares.We will pass that on to our lawyers," Stockbridge said, "and look at having that reworded as that is not what is intended by this resolution."http://www.heraldscotland.com/sport/football/rangers-will-be-down-to-last-1m-by-april.22406951 Quote Link to post Share on other sites More sharing options...
Bad Robot 21,512 Posted February 2, 2014 Share Posted February 2, 2014 Can any post the full article ? Quote Link to post Share on other sites More sharing options...
OlegKuznetsov 10,816 Posted February 2, 2014 Share Posted February 2, 2014 Can any post the full article ?Just did, mate. Quote Link to post Share on other sites More sharing options...
Bad Robot 21,512 Posted February 2, 2014 Share Posted February 2, 2014 Just did, mate.Cheers Oleg but it was the Sun article. Quote Link to post Share on other sites More sharing options...
Bertent 2,081 Posted February 2, 2014 Share Posted February 2, 2014 Only thing more prevalent than hoop stretched accountants are choir bhoys tadgered by the priesthood. Quote Link to post Share on other sites More sharing options...
ritchieshearercaldow 22,242 Posted February 2, 2014 Share Posted February 2, 2014 Im pretty sure the article says it is an investor who has claimed it and "the Rangers source" has denied it completely.As someone else suggested, this could simply be a dhim who has bought shares and is muck raking. I absolutely believe Phil 4 names has shares and there are a few other prominent bloggers of his ilk the same.They are clearly not well in the head. FFS Rangers haters buying shares in the club, I never even thought of that, they really are sick, obsessed, deranged individuals. Quote Link to post Share on other sites More sharing options...
mabawsa 888 Posted February 2, 2014 Share Posted February 2, 2014 FFS Rangers haters buying shares in the club, I never even thought of that, they really are sick, obsessed, deranged individuals.Maybe someone is having a "look under the bonnet" , although you would think Man Utd would be more of a concern these days. Quote Link to post Share on other sites More sharing options...
IanFerguson2013 398 Posted February 2, 2014 Share Posted February 2, 2014 Sounds like nonsense. If we were nearly broke we would have sold Wallace. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted February 2, 2014 Share Posted February 2, 2014 I haven't read the whole thread but has the Sun taken into account that we have a £2.5m unsecured facility available? Or have they missed that point? Quote Link to post Share on other sites More sharing options...
Bheast Skelper 411 Posted February 2, 2014 Share Posted February 2, 2014 I haven't read the whole thread but has the Sun taken into account that we have a £2.5m unsecured facility available? Or have they missed that point?Good point Boss and one that a half decent journo wouldn't have overlooked. Quote Link to post Share on other sites More sharing options...
bawsburst 1,381 Posted February 2, 2014 Share Posted February 2, 2014 7 pages based on;By CAMERON HAYPublished: 9 hrs agoRANGERS are at the centre of a financial cover-up investigation over claims the club will be broke within two weeks.The stock exchange inquiry was launched after an Ibrox official is alleged to have forecast they would run out of cash by mid-February.New chief executive Graham Wallace has assured fans there is no danger of a second plunge into administration — two years after ex-owner Craig Whyte steered the club to its doom.But in a complaint to the AIM exchange, a disgruntled investor writes: “It’s the worst-kept secret in Scotland that the club is running out of money in the next few weeks, yet the board has made no announcement.” The shareholder says Rangers should have disclosed any projected shortfall under stock market rules. AIM chiefs have vowed to investigate the claims.An Ibrox spokesman said they could not comment on regulatory matters. But a source said last night: “It’s untrue — there are people trying to undermine the board.” Quote Link to post Share on other sites More sharing options...
OlegKuznetsov 10,816 Posted February 2, 2014 Share Posted February 2, 2014 7 pages based on;Indeed, but in fairness, the vast majority of posts have pooh-poohed the notion.By CAMERON HAYPublished: 9 hrs agoRANGERS are at the centre of a financial cover-up investigation over claims the club will be broke within two weeks.The stock exchange inquiry was launched after an Ibrox official is alleged to have forecast they would run out of cash by mid-February.New chief executive Graham Wallace has assured fans there is no danger of a second plunge into administration — two years after ex-owner Craig Whyte steered the club to its doom.But in a complaint to the AIM exchange, a disgruntled investor writes: “It’s the worst-kept secret in Scotland that the club is running out of money in the next few weeks, yet the board has made no announcement.” The shareholder says Rangers should have disclosed any projected shortfall under stock market rules.AIM chiefs have vowed to investigate the claims.An Ibrox spokesman said they could not comment on regulatory matters. But a source said last night: “It’s untrue — there are people trying to undermine the board.”And if there is no such shortfall????As we all stated, it's a non-story. Quote Link to post Share on other sites More sharing options...
mitre_mouldmaster 21,509 Posted February 2, 2014 Share Posted February 2, 2014 I haven't read the whole thread but has the Sun taken into account that we have a £2.5m unsecured facility available? Or have they missed that point?To be honest, the whole article sounds like shite, but on the £2.5m unsecured credit front, do we know if this is still available?Always had a feeling it was something that was likely to be taken off the table when Green and Stockbridge disappeared. Also got a feeling that the terms of this credit facility might nit be the best, so would rather we avoided it. Quote Link to post Share on other sites More sharing options...
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