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Final destination of kings lost millions


bawsburst
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To counter misinformation being circulated elsewhere the below is the definitive as to king's "investment" and its designated usage.

It has no bearing on present day affairs or conditions, although it is being peddled as being something that is germain to present day circumstances, it is not and there is no mystery as to how king's investment was utilised.

The fact that the boy david was twice as wide and two weeks ahead of king is his problem not ours.

Archive - Rangers Football Club

THE RANGERS FOOTBALL CLUB PLC TO RAISE £53.1 MILLION

Rangers Football Club

30 March 2000

Rangers football Club

In a letter issued to shareholders of Rangers Football Club today (30 March, 2000), David Murray, the Club Chairman stated that Rangers is aiming to raise up to £53.1 million in cash, before expenses, through a Rights Issue.

The key elements of the letter are as follows:

proposed 1 for 3 Rights Issue of up to 15,380,507 new Ordinary Shares at 345 pence per share, to raise up to £53,062,749 million in cash, before expenses.

minority shareholders, many being loyal fans of the Club, have the opportunity to participate in the issue if they so wish.

Murray Sports, which is controlled by David Murray, has committed to take up its rights under the Rights Issue, through its wholly owned subsidiary RFC Investment Holdings, representing an investment of £32.3 million.

Of the £32.3 million, the Murray Group is investing £9.3 million with new investment of approximately £20 million from Ben Nevis Holdings, a company associated with Dave King, a successful Scottish businessman based in South Africa. A further £3 million is being invested by private parties.

Dave King is appointed as non-executive director and Douglas Odam as finance director to the Board of Rangers.

Rangers main objectives are to:

continue to improve the quality of the player pool

develop young players through the new Rangers Academy

improve Rangers’ performance in European competitions where the revenue streams are enjoying significant growth

increase media revenue, potentially through pay-per-view and through the internet

use Rangers’ brand loyalty to develop new revenue streams from internet distribution channels

as a result of recent significant investment in players, borrowing levels have risen substantially and the Board now wishes to reduce the Club’s reliance on short-term borrowings, as publicly stated at the Club’s AGM in December.

Rangers has had discussions with media companies which the directors believe could lead to a significant strategic relationship.

intention of the Board to seek a flotation of Rangers in the near future subject to market conditions.

the Board considers the Rights Issue to be in the best interests of the Club, its shareholders and supporters.

Interim Results for the six months to 31 December 1999 are:

• Turnover for the six months to 31 December increased by almost 40 per cent to £29.8 million (1998 seven months: 21.4 million).

• Trading profit for the period was £112,000 (1998: loss of £3,090,000).

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To counter misinformation

Out of interest and seeing as you have access to such material. Can you confirm if Paul Murray paid a substantial sum to David Murray to become a non executive director of Rangers FC?

I have always held the belief he paid a very large sum for the privilege.

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Out of interest and seeing as you have access to such material. Can you confirm if Paul Murray paid a substantial sum to David Murray to become a non executive director of Rangers FC?

I have always held the belief he paid a very large sum for the privilege.

No he did not, he was thought to be useful by the Embra' mafia as he had previous connections in the city through Deutsche Bank.

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Out of interest and seeing as you have access to such material. Can you confirm if Paul Murray paid a substantial sum to David Murray to become a non executive director of Rangers FC?

I have always held the belief he paid a very large sum for the privilege.

Paul Murray and 3 others were the guys who clubbed together £1m to fund the Rangers Youth initiative which pretty much was canned a year or two later. Im unsure if he got his money back but i reckon his non exec position was a token gesture due to that investment. (tu)

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Certainly puts a different slant on it, I wouldn't mind Dave King getting involved if he'll actually put up the cash but I think many of our fans have too much unquestionable trust in him.

Yea would agree with this.

Think that question still lingers about Kings firm getting a later payment from Murrays groups, but dont know any of the details on that.

Regardless, im pretty sure he did invest and did lose out. I think he does have good intentions, but would his involvement have a positive impact? Only time would tell i would think.

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Yea would agree with this.

Think that question still lingers about Kings firm getting a later payment from Murrays groups, but dont know any of the details on that.

Regardless, im pretty sure he did invest and did lose out. I think he does have good intentions, but would his involvement have a positive impact? Only time would tell i would think.

Yeah i'm sure King did lose out but so did a lot of others like smaller creditors, doesn't really give him the right to be in our ear all the time via the media. If he won't invest until there's another share issue then fine but just sit quiet until whenever that is surely.
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Paul Murray and 3 others were the guys who clubbed together £1m to fund the Rangers Youth initiative which pretty much was canned a year or two later. Im unsure if he got his money back but i reckon his non exec position was a token gesture due to that investment. (tu)

Was it Paul's money or was it investment money?

Also how much did they get back from the Hutton sale?

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Much as I would like to be proved wrong I can't see any other viable ownership model for The Rangers other than a single/majority owner, if DK is to be that owner he should really step forward very publicly and show his intention not to line anyone's pockets is superceeded by his desire to own the most successful club side in the history of the game, the choice is yours DK.

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Was it Paul's money or was it investment money?

Also how much did they get back from the Hutton sale?

Not sure if it was his money or not and although i have no concrete evidence i dont believe any of them got anything from it truth be told. I think after a few years they realised that it was just not practical. (tu)

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Not sure if it was his money or not and although i have no concrete evidence i dont believe any of them got anything from it truth be told. I think after a few years they realised that it was just not practical. (tu)

Remember it went into a separate company with the return coming from the sale of rangers youth academy. I'm pretty sure Hutton, amongst others, fell into this category

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Much as I would like to be proved wrong I can't see any other viable ownership model for The Rangers other than a single/majority owner, if DK is to be that owner he should really step forward very publicly and show his intention not to line anyone's pockets is superceeded by his desire to own the most successful club side in the history of the game, the choice is yours DK.

This. (tu)

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Much as I would like to be proved wrong I can't see any other viable ownership model for The Rangers other than a single/majority owner, if DK is to be that owner he should really step forward very publicly and show his intention not to line anyone's pockets is superceeded by his desire to own the most successful club side in the history of the game, the choice is yours DK.

What else do you want him to say? He has already made it clear (a) that he has no intention of buying shares from existing shareholders; and (b) that he would be willing to invest heavily if there was a new share issue. It's quite simple really. If the Board needs more money, they know who to turn to. If they do not need more money, then DK will have to bide his time.

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Remember it went into a separate company with the return coming from the sale of rangers youth academy. I'm pretty sure Hutton, amongst others, fell into this category

That was how it was set up but RFC oldco owned it 100% so the 4 investors didnt appear to have any way of making money from it and all funds in essence were reinvested into the youth setup or paying for Murray Park. There is no evidence in the accounts from that period that money was paid through the Youth Development Ltd. In fact, the contrary is true as cash resources were depleting from 2007 to 2011 by £300k per year. (tu)

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What else do you want him to say? He has already made it clear (a) that he has no intention of buying shares from existing shareholders; and (b) that he would be willing to invest heavily if there was a new share issue. It's quite simple really. If the Board needs more money, they know who to turn to. If they do not need more money, then DK will have to bide his time.

So he's not worth a wank then until we go into admin.

That's a fucking handy position for a rangers man.

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What else do you want him to say? He has already made it clear (a) that he has no intention of buying shares from existing shareholders; and (b) that he would be willing to invest heavily if there was a new share issue. It's quite simple really. If the Board needs more money, they know who to turn to. If they do not need more money, then DK will have to bide his time.

So he's still just a tyre kicker making excuses.

If the board need more money they will raise it.

If they don't need more money then they won't.

Dave King is not even a show in town much less the only one.

If the board see it as best for Rangers I'm sure they will be in touch.

Otherwise he can bide his time til hell freezes over.

Remember what happened when mini sat back biding his time til the lack of directors meant they had to let him in.

This board are no mugs.

:lol:

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Mr King will never hand over cash to your puppet masters Bawsburst move on and get another idea. The money is for Rangers not your pockets. You seem to becoming more and more desperate fore your masters to cashout

Do you reb malcontents ever preach anything other than division destruction and sedition.

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So why does the Dave king backers think that the current investors have no right to invest more money and at the next share issue would leave any shares for Dave king to buy up shares. Also why is your only saviour also making up the good old rumour of admin this month or the next month. He is only interesting in rangers for the lowest price he can get, did he not say would invest at 30p what happens if say at the next share issue it is 40p a share will he hold off cause it not at the price he wants

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