News this morning regarding £1.5m loan

[North Rd 2,860]

What an embarrasment for a club we are....

[MayboleLoyal_atb 3,724]

There's being concerned and then there's harbouring doom and creating panic - that's a rebel tactic

Quick question of my own - we we were to borrow 1.5 million from a bank what would the interest be on that?

I'm not up or down with this. Businessmen making a return on money paid out wow who'd have thought it but to flip it to be fair too they're not doing it for the love of the club or kindness

So in somewhere in between on this

Agree there is people who flip a story for the rebels and there's folk who flip a story to suite the current board. Not a fan at all of "the rebels" and still very unsure of our current board. Gutted it's came to having to borrow money so early on after we had 22 million.

[SoldierBlue1 499]

Naw - you are more embarrassing

This. And a more shit stirring and divisive person would be hard to find. WATP

[theiconicman 2,992]

on the view of easedales part of the loan.

I don't think there is any fee or interest. With the laxey part it has all clearly been spelled out how the 15% can be paid and when.

None of this info is there on the easedale part, which leads me to believe there is no set up fee or interest to be paid on that 500k

Could be right. It goes to show the depth of mistrust however.

We all saw earlier in the thread where GW talked about April cash balance and how he wriggled out of that comment at the time.

What people at Rangers say and what fans try and take from it have been usually polar opposites lately.

If this board wants to be taken as saviours from previous regimes, they need to come out and quite categorically state their business plan for getting us back to the top league, in good financial health.

If that can't be done from revenue, then they need to talk to us about their investment strategy.

[Johnny Hubbard 280]

You know what, I agree with you, and you are well within your rights to be upset at it.

but what is bleating about it actually going to achieve? We are where we are, the guys that got us into this mess are gone, and we are trying to move forward.

Nothing will get done by going over old ground.

what shareholder have gone ?

They are the one's pulling the strings and it's the same lot.

[eskbankloyal 19,446]

Could be right. It goes to show the depth of mistrust however.

We all saw earlier in the thread where GW talked about April cash balance and how he wriggled out of that comment at the time.

What people at Rangers say and what fans try and take from it have been usually polar opposites lately.

If this board wants to be taken as saviours from previous regimes, they need to come out and quite categorically state their business plan for getting us back to the top league, in good financial health.

If that can't be done from revenue, then they need to talk to us about their investment strategy.

[Carson's cat 744]

Really. Are you sure about that ????

I would say that your attempts to rubbish Paul Murray's business credentials gave it away a bit! However, if you can give me an example of a Board-critical post in the run-up to the AGM, I'm willing to stand corrected.

[gogzy 31,195]

You mean the Board you gave your unreserved support to in the run-up to the AGM!

Posters like you wouldn't listen to any criticism of the Board when it was run by Green and then Mather. Now they've been found out, you're all trying to make out that we've got a 'new' Board who deserve time to sort out the 'old' Board's mess. One day the coffee will be smelt!

Yes. I was clearly wrong when i thought the club was being ran within it's means

[theiconicman 2,992]

You know what, I agree with you, and you are well within your rights to be upset at it.

but what is bleating about it actually going to achieve? We are where we are, the guys that got us into this mess are gone, and we are trying to move forward.

Nothing will get done by going over old ground.

Gogzy

How many times are we going to let it happen and just keep saying, ah well, it was them lot before you that done it, carry on!

Someone needs to take accountability for this, the board can bleat it was them big bad boys that done it and ran away, but they need to show us why they are different and what they are going to do about it.

This 120 day review really just takes us to the end of the season and I start to worry that little will be forthcoming after that.

[gogzy 31,195]

ha that genuinely the figure? Ooft

No i was 10% off

It's 5853%

http://www.thisismoney.co.uk/money/cardsloans/article-2487799/Wonga-defends-5-853-rate-MPs-accuse-lender-causing-real-pain.html

[Marco Negri's Beard 1,423]

Gogzy

How many times are we going to let it happen and just keep saying, ah well, it was them lot before you that done it, carry on!

Someone needs to take accountability for this, the board can bleat it was them big bad boys that done it and ran away, but they need to show us why they are different and what they are going to do about it.

This 120 day review really just takes us to the end of the season and I start to worry that little will be forthcoming after that.

My fear too - will we be looking back next year, and having a new chairman or CEO saying the same thing about this board? Its a massive summer, time to sort out or shit - I truly hope this lot do it

[Marco Negri's Beard 1,423]

No i was 10% off

It's 5853%

http://www.thisismon...-real-pain.html

Found out again Gogzy, ya liar

[thehost 11,061]

I would say that your attempts to rubbish Paul Murray's business credentials gave it away a bit! However, if you can give me an example of a Board-critical post in the run-up to the AGM, I'm willing to stand corrected.

you need to understand something.

Many of us, who would rather consume our own legs than have paul, malky, bain and pals near the club, watch on with little support for the current boardroom activities.

I have stated my position since this happened.

I want a board who will cut our playing budget to 3mill max, who will cut out managment team budget to 400k max. Who will refuse to sign any player who is over the age of 27.

I want a board that will open up and maximise revenue streams irrespective of what the fanbase wants.

In short the current board is not, for me, cutting costs quickly enough nor introducing new income streams.

However, based upon previous actions i think paul murray and pals would be evn worse that the current incumbents.

So do not mix up peoples lack of appetite for paul murray as automatic suport for the current board. We just think that those who supported the reqs were taking the club into even deeper water.

[blue_sea_of_ibrox 12]

We have no money left simple as that. This 1.5 mil is for running costs what happens when that runs out it's very worrying

[theiconicman 2,992]

Fuck me I agreed with the host.

The reqs had their chance many times and blew smoke up our arses more times.

The current board come with decent credentials but are so far lacking on the action front.

In the end though, I believe stability is better than constant wholesale change and financial prudence is key amongst all of that.

[JR 1,480]

you need to understand something.

Many of us, who would rather consume our own legs than have paul, malky, bain and pals near the club, watch on with little support for the current boardroom activities.

I have stated my position since this happened.

I want a board who will cut our playing budget to 3mill max, who will cut out managment team budget to 400k max. Who will refuse to sign any player who is over the age of 27.

I want a board that will open up and maximise revenue streams irrespective of what the fanbase wants.

In short the current board is not, for me, cutting costs quickly enough nor introducing new income streams.

However, based upon previous actions i think paul murray and pals would be evn worse that the current incumbents.

So do not mix up peoples lack of appetite for paul murray as automatic suport for the current board. We just think that those who supported the reqs were taking the club into even deeper water.

You're wasting your breath bud, he sees what he wants to see.

[TheLawMan 6,240]

I would say that your attempts to rubbish Paul Murray's business credentials gave it away a bit! However, if you can give me an example of a Board-critical post in the run-up to the AGM, I'm willing to stand corrected.

Hmmmmm. You do realise that Murray was up against the current board dont you and not Green, Ahmad and Malcolm Murray.

[blue belle 1]

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.

[blue belle 1]

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.

It's not an investment it's a loan. Huge difference!

[Carsons Dog 9,878]

So what happens next is RST will be on STV tonight bitching about money into the club and that the board must be honest and that its just no fair that mini and his cohorts cannot do the same cos they are pure Rangers men.

The same RST who dropped their pants to Laxeys not that long ago?

Surely not?

[Zappa 358]

if they 2.5 million credit facility had been used then surely a similar announcement would have to have been made to the stock exchange and given our finances are subject to so much interest it would have been all over this place.

The £2.5m credit/loan facility has already been disclosed in the accounts which were released at the end of September and was also clearly stated at the AGM, although AFAIK the exact details of the facility were ever revealed.

I don't think that actually using that £2.5m facility would require an announcement, but if I'm wrong and it hasn't been used and isn't going to be used to see out the season, then great.

It certainly wouldn't suprise me in the slightest though, if the Stockbridge prediction of '£1m left by April' was actually taking into account using that £2.5m credit facility and the reason we're now seeing an additional credit facility being put in place is because the £2.5m facility wasn't going to be enough.

I do sincerely hope that I'm wrong though and I hope that someone asks Graham Wallace or this chap Nash about all this in detail because accruing debts of £4m + fees to see out this season would not be good at all.

[1st_Jan_1994 4,868]

Some of the posts on here are embarrassing. The Easdale loan has no charges whatsoever. Either he gets shares to the value of his loan or he gets the same money back. The Laxey loan will have an interest charge which is hardly surprising from an investment company. Any bank would have a charge. Putting up Edmiston House and the Albion car park as security is nothing new and is standard procedure.

The season ticket money and IPO money were never going to be enough to see us through. One look at the accounts both recent and in the past would tell you that. Our biggest problem is the amateur accountants who haven't a clue about financial matters and they press the panic button. It wouldn't matter who was in the boardroom the simple fact is that expenditure exceeds income because of our situation in the lower leagues. That is likely to continue for another year. Graham Wallace has to try to reduce costs and increase income which is difficult when some of our own so-called fans have stated they won't renew season tickets or buy merchandise.

good post

[trublusince1982 768]

why wouldn't they want their money back?

they can put money in without needing a return twice. first return is when they get paid back second time is when the share price rises as a concequence. nobody is asking them for the unreasonable. they could have raised the 1.5m through their companies taking out sponsership or one or more could have bought the naming rights to the academy. there are many ways for investors to invest that are mutually benifical unfortunately they only seem concerned with a cash return.

[stu43rigger 327]

It's not an investment it's a loan. Huge difference!

it's not a loan either, it's a credit facility

[Big Al 55 9,275]

I would say that your attempts to rubbish Paul Murray's business credentials gave it away a bit! However, if you can give me an example of a Board-critical post in the run-up to the AGM, I'm willing to stand corrected.

Classic error both "sides" make, pisses me off big time.