siddiqi_drinker 14,635 Posted February 24, 2014 Share Posted February 24, 2014 You don't see what the outrage is about? We have Dave King waiting to plough millions into the club, instead we're taking crisis loans to see us until season ticket money comes in.. Great position to be in after what happened February, 2 years ago. The club's going backwards.Have we - and you know this for a fact because??? Could that be along the lines of the millions Brian Kennedy was willing to put in and not forgetting TBK and McColl.If King wanted to invest, like the others, he'd have done it by now - what's stopping him?? Quote Link to post Share on other sites More sharing options...
bilko89 507 Posted February 24, 2014 Share Posted February 24, 2014 You don't see what the outrage is about? We have Dave King waiting to plough millions into the club, instead we're taking crisis loans to see us until season ticket money comes in.. Great position to be in after what happened February, 2 years ago. The club's going backwards.If King really is wanting to "Plough millions into the club" why is he not buying up shares?Fed up with King blabbing off to the media, put up or shut up. Quote Link to post Share on other sites More sharing options...
RangersFanBase 611 Posted February 24, 2014 Author Share Posted February 24, 2014 What's more embarrassing about being in this situation this morning is how Rangers announced it:"The Board of Rangers is pleased to announce that it has entered into two secured short term credit facilities"Apparently we're pleased about being in financial troubles again. Absolutely shambolic the way the club is being run. Quote Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted February 24, 2014 Share Posted February 24, 2014 I'm not clutching at straws at all, I didn't quite remember an article from a few weeks back, although that article does basically say fans were wrong to think it was a crisis loan, which it quite clearly is? that's not clutching at straws, and I didn't think I exposed a lie at all.Your OP claims you have found a lie.It was said months ago that we had access to a £2.5m credit facility. We have taken advantage of £1.5m of that facility. That's not a crisis loan in my book. Quote Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted February 24, 2014 Share Posted February 24, 2014 What's more embarrassing about being in this situation this morning is how Rangers announced it:"The Board of Rangers is pleased to announce that it has entered into two secured short term credit facilities"Apparently we're pleased about being in financial troubles again. Absolutely shambolic the way the club is being run.Naw - you are more embarrassing Quote Link to post Share on other sites More sharing options...
bilko89 507 Posted February 24, 2014 Share Posted February 24, 2014 What's more embarrassing about being in this situation this morning is how Rangers announced it:"The Board of Rangers is pleased to announce that it has entered into two secured short term credit facilities"Apparently we're pleased about being in financial troubles again. Absolutely shambolic the way the club is being run.Fuck sake I can see it's pointless speaking to you. Your mind has been set that the rebels are the way forward for some weird reason. I'll let you carry on..... Quote Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted February 24, 2014 Share Posted February 24, 2014 What's more embarrassing about being in this situation this morning is how Rangers announced it:"The Board of Rangers is pleased to announce that it has entered into two secured short term credit facilities"Apparently we're pleased about being in financial troubles again. Absolutely shambolic the way the club is being run.Talking of clutching at straws... Quote Link to post Share on other sites More sharing options...
RangersFanBase 611 Posted February 24, 2014 Author Share Posted February 24, 2014 Your OP claims you have found a lie.It was said months ago that we had access to a £2.5m credit facility. We have taken advantage of £1.5m of that facility. That's not a crisis loan in my book.My OP doesn't claim I found a lie. There was a question mark at the end of my sentence in my OP. If I was exposing or claiming I found a lie that'd of went more along the lines of "OH MY GOD THE FUCKING BOARD LIED TO US THOSE SCUMMY SPIV TWATS!" Quote Link to post Share on other sites More sharing options...
Johnny Hubbard 280 Posted February 24, 2014 Share Posted February 24, 2014 If King really is wanting to "Plough millions into the club" why is he not buying up shares?Fed up with King blabbing off to the media, put up or shut up.because he wants to pore millions into the CLUB Quote Link to post Share on other sites More sharing options...
bilko89 507 Posted February 24, 2014 Share Posted February 24, 2014 Your OP claims you have found a lie.It was said months ago that we had access to a £2.5m credit facility. We have taken advantage of £1.5m of that facility. That's not a crisis loan in my book.Knew this was said somewhere and was in the process of trying to find it Quote Link to post Share on other sites More sharing options...
iain1712 336 Posted February 24, 2014 Share Posted February 24, 2014 I'm sure the fact that Sandy Easdales is charging no fee or interest will be overlooked by some..It doesn't say he's not charging a fee, quite the opposite in fact. Quote Link to post Share on other sites More sharing options...
bilko89 507 Posted February 24, 2014 Share Posted February 24, 2014 because he wants to pore millions into the CLUBCan you elaborate on that? Are you saying King is willing to part with, for talking sake 20M, with no shares and no return for his money? Just a present? Quote Link to post Share on other sites More sharing options...
wrongshapedballs 78 Posted February 24, 2014 Share Posted February 24, 2014 It doesn't say he's not charging a fee, quite the opposite in fact."Alexander Easdale will make available to the Company up to £500,000 on a fee and interest free basis (the "Easdale Facility")." Quote Link to post Share on other sites More sharing options...
OzGers 425 Posted February 24, 2014 Share Posted February 24, 2014 Sorry but you did. All I see it as is we need 1.5M to get to season ticket renewals/sales and Laxey and the Easdales have invested this. Don't see what all the panic and outrage is all about. this is not investment. Investment is when money is put in a business with no guarantee of a return. This is a loan where both parties, particularly Laxey, get their money back in 6months plus a fee!If we are in need of funds, why the hell isn't Wallace looking for investment from the likes of king?IMO this is a sign of financial trouble. Wallace is a smart businessman- if we had enough cash to see us through until ST money, there is absolutely no way he would risk the wrath of fans, media, would be investors etc by taking out a short term loan.Very odd to say the least Quote Link to post Share on other sites More sharing options...
simplythebest 11,453 Posted February 24, 2014 Share Posted February 24, 2014 The OP is being an absolute arse about this, trying to create hysteria and panic based on something like the use of a word ffs. Quote Link to post Share on other sites More sharing options...
RangersFanBase 611 Posted February 24, 2014 Author Share Posted February 24, 2014 The way Rangers is being run is a disgrace. Snubbing investors and turning to loans instead - Where's the sense in that? Sure they might not want Dave King, but why were other investors not being looked at? It's a farce.14 months after an IPO and 70,000 season ticket sales, retail sales, merchandising etc we're needing loans of £1.5m. It was said months in advance that Rangers needed investment, that should of been looked at a hell of a lot sooner, instead the board rushed out their "#ReadyToListen" campaign when they should of been "#ReadyToListen" to investors. Outstanding how the club is being run, everyone in the board room deserves a pat on the back, especially The Easdales who are loaning us money for "next to nothing" - Although they still receive money in return for it in some form. Quote Link to post Share on other sites More sharing options...
PRW. 5,631 Posted February 24, 2014 Share Posted February 24, 2014 Fair play Easdales, not so much Laxey.This is all very embarrassing though, 2 years after liquidation and this is where we are at. Yet some believe the board(s) can do no wrong. Quote Link to post Share on other sites More sharing options...
glasgowrangersno1 468 Posted February 24, 2014 Share Posted February 24, 2014 Not good news at all.Fair play on the interest free part but why have we accepted Laxey's deal? Would no one have offered better? Quote Link to post Share on other sites More sharing options...
simplythebest 11,453 Posted February 24, 2014 Share Posted February 24, 2014 The way Rangers is being run is a disgrace. Snubbing investors and turning to loans instead - Where's the sense in that? Sure they might not want Dave King, but why were other investors not being looked at?It's a farce.14 months after an IPO and 70,000 season ticket sales, retail sales, merchandising etc we're needing loans of £1.5m. It was said months in advance that Rangers needed investment, that should of been looked at a hell of a lot sooner, instead the board rushed out their "#ReadyToListen" campaign when they should of been "#ReadyToListen" to investors.Outstanding how the club is being run, everyone in the board room deserves a pat on the back, especially The Easdales who are loaning us money for "next to nothing" - Although they still receive money in return for it in some form.The Easdales and Laxey are investors, the likes of Dave King are looking for far bigger conditions, he wants a whole brand new share issue to 'plough in millions'.Get over it. Quote Link to post Share on other sites More sharing options...
Young Conqueror 78 Posted February 24, 2014 Share Posted February 24, 2014 Fair play Easdales, not so much Laxey.This is all very embarrassing though, 2 years after liquidation and this is where we are at. Yet some believe the board(s) can do no wrong.Don't know if i'm reading the article correct but are both not taking a 15% payback option? Quote Link to post Share on other sites More sharing options...
jeema 12 Posted February 24, 2014 Share Posted February 24, 2014 I don't often post preferring to read others postings.I am somewhat confused and concerned by the statement.The way I read easdales Loan is on a fee basis but interest free, as it states it will be provided on a fee and interest free basis, very cleverly worded.Laxleys, is even more concerning . . .If they take their 1p shares just now, as I read it, they get 26.5 x £150,000.00 worth of shares, so instead of getting £150,00/26.5p = number of shares they are getting the 26.5 x their money, or if there is a share issue and the price is higher than 26.5p they get even more shares for their £150k interest.I may be wrong but that is how I read it Quote Link to post Share on other sites More sharing options...
daviecooper01 826 Posted February 24, 2014 Share Posted February 24, 2014 Fans to Board - go and get more funding.Board to fans - here you go, and no new guys involved.Fans to Board - why do you need more money - spivs out, Gers men in blah blah blah Quote Link to post Share on other sites More sharing options...
iain1712 336 Posted February 24, 2014 Share Posted February 24, 2014 "Alexander Easdale will make available to the Company up to £500,000 on a fee and interest free basis (the "Easdale Facility")."It can be interpreted both ways that statement is not very clear. Quote Link to post Share on other sites More sharing options...
RangersFanBase 611 Posted February 24, 2014 Author Share Posted February 24, 2014 The Easdales and Laxey are investors, the likes of Dave King are looking for far bigger conditions, he wants a whole brand new share issue to 'plough in millions'.Get over it.You don't know what Dave King wants, for all we know he may just want a seat on the board, or to become Chairman. I'd rather his terms and his money, than anyone in that boardroom, minus Graham Wallace as he seems to be the only man that knows what he's actually doing. Also Laxey etc haven't invested anything. Quote Link to post Share on other sites More sharing options...
JM1872 3,776 Posted February 24, 2014 Share Posted February 24, 2014 Well, we are where we are. Wallace is still picking up the pieces from the previous circus acts such as Stockbridge and co. The sooner this 120 day review is complete and Wallace and co. can begin to sort this mess out, the better. Harsh cuts need to be made in order to survive and a serious consideration of how we can raise revenue such as a membership scheme.If things don't improve it could be more than 5 years before we win the top flight again. Quote Link to post Share on other sites More sharing options...
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