News this morning regarding £1.5m loan

[elephants stoned 2,994]

"Alexander Easdale will make available to the Company up to £500,000 on a fee and interest free basis (the "Easdale Facility")."

Fair play to Sandy

[RangersFanBase 611]

Or we are pleased to have secured more working capital when we need it. Your anti-board ramblings are getting tiresome now.

I've never actually made very many anti-board ramblings, there was some leading up to the AGM, but that's about it really?

[bornabear 6,205]

Reading through these posts is at times laughable. Fans reading what is NOT there, making 2 + 2 equal to anything other than 4.

DK, the hero of some, will only put money into the Club on his terms, which are unacceptable to the Board and should be unacceptable to we the fans.

GW is doing a 120 day plan which will cut costs and that 120 day timescale should be allowed to be completed. This cost cutting exercise will, IMO, get rid of a lot of deadwood within the Club.

Where we are pishing money is on our playing staff, that wage bill has to be the biggest concern and WILL be the biggest cut when it comes as our squad is far too big and we are paying players to sit on their arses throughout the season, this has to stop.

Do we need a 3 man management team ?, NO, so money can be saved there.

Getting rid of this deadwood will pay back the credit facility and NOT next year's ST money.

Really, some fans should look at the facts first before commenting in hysteria.

[ArchibaldLeitch 380]

Anyone who is labelling this as a crisis loan is doing so for their own agenda.

Any other business entity on the planet, this would be labelled an investment for short term working capital guaranteed against a business asset.

Because its rangers the media whores, haters and drama queens will cling on to the buzz words and hysteria.

[elephants stoned 2,994]

I ask if we are so fucked then why did we not accept the 900k bid for Wallace? Would of only been 600k loan needed not 1.5million then. That has to be the indicator that while this is not what any of us wanted to see,things are being exaggerated by agendas both bheasts and those who now act like bheasts.

[The Godfather 71,968]

I ask if we are so fucked then why did we not accept the 900k bid for Wallace? Would of only been 600k loan needed not 1.5million then. That has to be the indicator that while this is not what any of us wanted to see,things are being exaggerated by agendas both bheasts and those who now act like bheasts.

Don't think there was much basis on that figure, some papers said 900k while others said it was well below that ammount.

Either way people are making far too much out of this 'loan'.

[sprotson11 147]

The Laxey facility clearly states how the 15% will be paid back, and as there is no similar information for the Easdale facility it suggests there is no fee.

[Jonok 1,245]

I wish I could get a 30% yearly return on my cash I would be rich in no time.

[johnkp 22]

It's a loan. There's no other way to spin it, it's a loan, which we have to repay.

At the AGM, Graham Wallace was asked to - unequivocally - declare that Ibrox, Auchenhowie, The Albion Car Park and Edmiston House would not be part of any Sale-and-Leaseback arrangement. His response, as best as I can remember it - was, "The Board, in its' current form, will not make Ibrox, Auchenhowie, The Albion Car Par or Edmiston House the subject of a Sale-and-Leaseback deal."

I thought, at the time, that that was a very particular wording of an answer to a question he must have known would be asked. One of his first actions was to get rid of Stockbridge. Does that mean that the Board is no longer in the form it was when that undertaking was made ? Is putting Edmiston House and the Albion Car Park up as security for the Laxey loan facility the first stage of a Sale-and-Leaseback deal ?

And, if there are any responses to my question, please spare me the 'Rebel plant', 'taig lurker' comments. I'm neither. I'm a concerned Rangers fan. No more, no less.

[minstral 5,375]

The Anti Rangers Campaign is still in full flow by all our haters, who thought that they had killed our club. That fact that we are still alive must be driving them mad, and their hatred can be seen with every story they print about us.

[Calgacus 88]

shortb term working capital is not an investment ..it is a lifebelt

[Muirheadbear 1,483]

At the AGM, Graham Wallace was asked to - unequivocally - declare that Ibrox, Auchenhowie, The Albion Car Park and Edmiston House would not be part of any Sale-and-Leaseback arrangement. His response, as best as I can remember it - was, "The Board, in its' current form, will not make Ibrox, Auchenhowie, The Albion Car Par or Edmiston House the subject of a Sale-and-Leaseback deal."

I thought, at the time, that that was a very particular wording of an answer to a question he must have known would be asked. One of his first actions was to get rid of Stockbridge. Does that mean the the Board is no longer in the form it was when that undertaking was made ? Is putting Edmiston House and the Albion Car Park up as security for the Laxey loan facility the first stage of a Sale-and-Leaseback deal ?

And, if there are any responses to my question, please spare me the 'Rebel plant', 'taig lurker' comments. I'm neither. I'm a concerned Rangers fan. No more, no less.

Not just Rebel or taig John, try mong, scum or retard. That's what's been directed at me for raising concerns on this subject.

[whytes3 254]

15% on a 6 month loan - horrendous business by the club

[cushynumber 25,178]

The sky sports website take on it -

Rangers have borrowed £1.5million from football board chairman Sandy Easdale and investment group Laxey Partners.

Rangers are reportedly losing £1m a month - they lost £14.4m in the 13 months up to last June - and a bid to persuade the playing squad to take a 15 per cent pay cut failed.

Easdale has lent the club £500,000 on a no-fee and no-interest basis, while Laxey Partners will lend the club £1m. Both sums are secured against the Edmiston House and Albion car park facilities near to Ibrox.

The loans are repayable by September 1, while Laxey Partners, the club's single-biggest shareholder with an 11.64 per cent stake, will make a £150,000 profit on their part of the deal.

The Isle of Man-based hedge fund may opt to take repayment in the form of fresh shares, but that would require shareholder backing at an AGM.

Rangers say the cash will be used for working capital over the "next few months".

[Muirheadbear 1,483]

15% on a 6 month loan - horrendous business by the club

Careful buddy you'll get bullied for stuff like that.

[RangersFanBase 611]

Didn't Manchester City run up debts in excess of over £100m when Graham Wallace was their finance director? borrowing money isn't a good business model.

[elephants stoned 2,994]

Don't think there was much basis on that figure, some papers said 900k while others said it was well below that ammount.

Either way people are making far too much out of this 'loan'.

From what I gathered the general consensus was there was at least 2 bids from Forest the lowest at £500k and the highest at £900k some say there was 3 bids but the £900k seems to of been the highest. Im sure that there hasn't been anything to massively change our financial position in the 3 weeks since then which says to me this loan probably was already in the plans.

[johnkp 22]

Not just Rebel or taig John, try mong, scum or retard. That's what's been directed at me for raising concerns on this subject.

Yep, I've had similar. Someone, I can't remember his username, called one of my posts 'a penile extension fishing rod' !

It's not troublemaking to make sure those responsible for the running of the club are open to scrutiny and held to account for their actions. I'd love our Board to be successful in getting us on a stable financial footing. If they fail in that, then their successors will also have my best hopes for success. What I don't want, is another Whyte, Green or Ahmad in our club.

[sprotson11 147]

At the AGM, Graham Wallace was asked to - unequivocally - declare that Ibrox, Auchenhowie, The Albion Car Park and Edmiston House would not be part of any Sale-and-Leaseback arrangement. His response, as best as I can remember it - was, "The Board, in its' current form, will not make Ibrox, Auchenhowie, The Albion Car Par or Edmiston House the subject of a Sale-and-Leaseback deal."

I thought, at the time, that that was a very particular wording of an answer to a question he must have known would be asked. One of his first actions was to get rid of Stockbridge. Does that mean the the Board is no longer in the form it was when that undertaking was made ? Is putting Edmiston House and the Albion Car Park up as security for the Laxey loan facility the first stage of a Sale-and-Leaseback deal ?

And, if there are any responses to my question, please spare me the 'Rebel plant', 'taig lurker' comments. I'm neither. I'm a concerned Rangers fan. No more, no less.

Using am asset as security is entirely different from selling that asset and leasing it back

[cushynumber 25,178]

Didn't Manchester City run up debts in excess of over £100m when Graham Wallace was their finance director? borrowing money isn't a good business model.

City's loss was made principally by buying players to make Roberto Mancini's squad strong enough to top the Premier League, and paying wages of £174m. City’s spending since he took over in 2008 has been covered by its owner - mansour.

Its simply wrong to say that loss is down to Wallace - it is down to mansour wanting a team that wil win the Champions league.

[Muirheadbear 1,483]

Didn't Manchester City run up debts in excess of over £100m when Graham Wallace was their finance director? borrowing money isn't a good business model.

It's not bad if Shiek Mansour's behind you!

[trublusince1982 768]

guess alot of u just refuse to admit whats best 4 the club aint the same as whats best 4 the board. we are now not debt free and have used assets to secure them. assets we bought with no plan and now not a dime to invest in them. 4 those who say we have known this all along thats even worse if this was the best idea we could come up with

[mitre_mouldmaster 21,509]

Didn't Manchester City run up debts in excess of over £100m when Graham Wallace was their finance director? borrowing money isn't a good business model.

I think he was their COO, not FD.

Not sure about debts, but they ran up huge losses, but that is only to be expected when they are underwritten by the wealthiest people on earth, using the club as their plaything.

Doubt any FD, COO or CEO could persuade the Arabs into spending moderately and trying to grow the business over many years before winning anything.

[Bertent 2,081]

not read it but it all but the usual Gru crew will be showing their ignorance and desperation as apparently getting their blazer chaser of choice in position is far more important than getting the club on its feet. Yet they call themselves fans, laughable.

[eskbankloyal 19,446]

Said when the news first broke last week that this had the potential to be a good deal for the club but I'm quite disappointed by the detail.

Potentially a chunk of our ST could be gone by the 1 Sep if the loan is repaid which only exacerbates the funding shortfall for next season. I don't think that will happen and I fully expect a share issue in and around the summer although depending on the accounts due in March, I'm not convinced any new institutions will touch it on the proviso that costs are cut throughout the business.

15% fee is, erm generous to say the least.