centenarystand 2,227 Posted February 25, 2014 Share Posted February 25, 2014 How many football clubs borrow money? How often are financial experts in the papers and on TV giving their views? Quote Link to post Share on other sites More sharing options...
five stars 1,630 Posted February 25, 2014 Share Posted February 25, 2014 The cost of the loan from Laxey is very high. Approx 30% APR on a secured loan is extortionate.The fact that we have agreed to it tell you alot about the state of our finances. Quote Link to post Share on other sites More sharing options...
hammer93 15,055 Posted February 25, 2014 Share Posted February 25, 2014 Maybe it's just meWhat's more worrying a loan to bridge a working capital short fall, short termOr not having it and facing administration mk2?I know I'd be more worried/concerned at the latterI wonder if the rag in question had to look very long to find a doommonger expertWhat worries me was 10 days ago my mate who is a retired bank manager told me from a reliable sourcethat administration was imminent?To be honest i didnt ask him about it cos the thought filled me with dread.Then 5 days later the story of the loan surfaces, this tells me that the 1.5 mill injected was a must or admin2 wasa reallistic option.Why has it been allowed to get to this state again, we are Rangers, we deserved to be run like the great institutionus fans believe us to be. Quote Link to post Share on other sites More sharing options...
smartypants 4,427 Posted February 25, 2014 Share Posted February 25, 2014 Aw man FFS hahahahahahaha Quote Link to post Share on other sites More sharing options...
BLUEDIGNITY 33,638 Posted February 25, 2014 Share Posted February 25, 2014 It appears MLM Solutions are following our plight with interest, one of the partners Maureen Leslie has already appeared on BBC newsnight Scotland in March 2012 giving her expert views. Unfortunately the video that was there seems unavailable ! Quote Link to post Share on other sites More sharing options...
stu43rigger 327 Posted February 25, 2014 Share Posted February 25, 2014 What worries me was 10 days ago my mate who is a retired bank manager told me from a reliable sourcethat administration was imminent?To be honest i didnt ask him about it cos the thought filled me with dread.Then 5 days later the story of the loan surfaces, this tells me that the 1.5 mill injected was a must or admin2 wasa reallistic option.Why has it been allowed to get to this state again, we are Rangers, we deserved to be run like the great institutionus fans believe us to be.so you believe Graham Wallace is lying then??if admin 2 were imminent as you say then how long is 1.5 million going to keep us going for??can you explain to me how Rangers could have gone into admin 2 when it has no debt??can you reveal your reliable source?? Quote Link to post Share on other sites More sharing options...
BLUEDIGNITY 33,638 Posted February 25, 2014 Share Posted February 25, 2014 What worries me was 10 days ago my mate who is a retired bank manager told me from a reliable sourcethat administration was imminent?To be honest i didnt ask him about it cos the thought filled me with dread.Then 5 days later the story of the loan surfaces, this tells me that the 1.5 mill injected was a must or admin2 wasa reallistic option.Why has it been allowed to get to this state again, we are Rangers, we deserved to be run like the great institutionus fans believe us to be.Heard this story too, 2nd hand allegedly from an ex Ranger's player ! Source was good but ! Quote Link to post Share on other sites More sharing options...
dougie76 15,356 Posted February 25, 2014 Share Posted February 25, 2014 funny these expert's only talk about Rangers. Quote Link to post Share on other sites More sharing options...
JR 1,480 Posted February 25, 2014 Share Posted February 25, 2014 I have my reasons as to why but I trust what Mr Wallace is doing and I'll give him the time he asked for to make it work. These "experts" looking in from outside can only speculate and I'm just not interested in what they have to say. Quote Link to post Share on other sites More sharing options...
dougie76 15,356 Posted February 25, 2014 Share Posted February 25, 2014 What worries me was 10 days ago my mate who is a retired bank manager told me from a reliable sourcethat administration was imminent?To be honest i didnt ask him about it cos the thought filled me with dread.Then 5 days later the story of the loan surfaces, this tells me that the 1.5 mill injected was a must or admin2 wasa reallistic option.Why has it been allowed to get to this state again, we are Rangers, we deserved to be run like the great institutionus fans believe us to be.l don't believe you or your mate, and we are a great institution as every Rangers supporter knows not "believes". Quote Link to post Share on other sites More sharing options...
theiconicman 2,973 Posted February 25, 2014 Share Posted February 25, 2014 There is a difference between administration and having no cash.Administration is a legal process invoked either by the directors of a company or by creditors when the company cannot continue to honour its debts as they fall due.We can be in no danger of administration but still have a chronic shortage of cash as long as the shareholders continue to inject funds to meet our debts as they fall due.The point in all of this is:Why are we running out of cash and what is the board doing about it to ensure it doesn't happen again next year. The argument that 'all clubs run out of cash this time of year' is bullshit.If we have sound financial governance in place then we operate within our revenue streams.If we need to eat a year or two of losses because the Board CHOOSES to maintain our cost base to keep our infrastructure in place until our revenue returns, then they need to be upfront with us and tell us that. Quote Link to post Share on other sites More sharing options...
hammer93 15,055 Posted February 25, 2014 Share Posted February 25, 2014 so you believe Graham Wallace is lying then??if admin 2 were imminent as you say then how long is 1.5 million going to keep us going for??can you explain to me how Rangers could have gone into admin 2 when it has no debt??can you reveal your reliable source??Dont bury your head in the sand pal, we have lost 14milion in a year, we have asked players to take a pay cut?If we need to to borrow 1.5mill to see us through to the end of the season that tells me the coffers are bare.Do i believe Graham Wallace? Im not sure i believe anything that comes out nowadays. Quote Link to post Share on other sites More sharing options...
hammer93 15,055 Posted February 25, 2014 Share Posted February 25, 2014 l don't believe you or your mate, and we are a great institution as every Rangers supporter knows not "believes".so you dont belive blue diginty eithier? Quote Link to post Share on other sites More sharing options...
bluenosebrad 452 Posted February 25, 2014 Share Posted February 25, 2014 FFS the feel good fact being ripped away again get a draw weekend and look at the amount of stories that are neg, does no-one actually see a parttern with the fuckin press in this country. Sick to the bone with all this shite. Over the last 2 year have never heard so much shite and experts coming out of the woodwork to tell us Rangers fans to shite our pants again and so many jump on the bandwagons to agree with these pricks. Quote Link to post Share on other sites More sharing options...
Rfc#1. 1,877 Posted February 25, 2014 Share Posted February 25, 2014 I'm not afraid over the loan ya scaremongering cunts. Quote Link to post Share on other sites More sharing options...
dougie76 15,356 Posted February 25, 2014 Share Posted February 25, 2014 so you dont belive blue diginty eithier?l don't know, enlighten me. Quote Link to post Share on other sites More sharing options...
Bheast Skelper 411 Posted February 25, 2014 Share Posted February 25, 2014 If you believe a single paragraph of this "experts" pish drivel you should immediately go and shoot yourself in the head, because, i'm sorry, you're a bheast. Quote Link to post Share on other sites More sharing options...
theiconicman 2,973 Posted February 25, 2014 Share Posted February 25, 2014 I'm not afraid over the loan ya scaremongering cunts.I'm not afraid either, but it is a very sad reflection of where we are just now and how far we've still to travel.The 120 days seems like an eternity while all this erupts during it. Graham Wallace better have some very clear messages on how we stop this endless cycle of financial hardship at the end of his review. Quote Link to post Share on other sites More sharing options...
BLUEDIGNITY 33,638 Posted February 25, 2014 Share Posted February 25, 2014 so you dont belive blue diginty eithier?It's only rumours mate, you honestly don't know who to believe there is that much shite gettin banded about. The agendas go on and on and on . . . Quote Link to post Share on other sites More sharing options...
hammer93 15,055 Posted February 25, 2014 Share Posted February 25, 2014 It's only rumours mate, you honestly don't know who to believe there is that much shite gettin banded about. The agendas go on and on and on . . .I know its only rumours, but the last time my mate gave me a rumour he told me all about craig whytes pastwhen his companies banked with him, it all ended with the fraud squad involved.He warned me then that whyte was a crook and i just laughed, oh silly me!! Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted February 25, 2014 Share Posted February 25, 2014 The cost of the loan from Laxey is very high. Approx 30% APR on a secured loan is extortionate.The fact that we have agreed to it tell you alot about the state of our finances.It is.Thank god we are only paying 15 per cent. Quote Link to post Share on other sites More sharing options...
stu43rigger 327 Posted February 25, 2014 Share Posted February 25, 2014 Dont bury your head in the sand pal, we have lost 14milion in a year, we have asked players to take a pay cut?If we need to to borrow 1.5mill to see us through to the end of the season that tells me the coffers are bare.Do i believe Graham Wallace? Im not sure i believe anything that comes out nowadays.my heads not in the sand, I just asked some pretty simple questions to establish whether your admin 2 claims had any basis, you haven't answered them which leads me to believe you are scaremongering Quote Link to post Share on other sites More sharing options...
BLUEDIGNITY 33,638 Posted February 25, 2014 Share Posted February 25, 2014 I know its only rumours, but the last time my mate gave me a rumour he told me all about craig whytes pastwhen his companies banked with him, it all ended with the fraud squad involved.He warned me then that whyte was a crook and i just laughed, oh silly me!!Agreed Mate caution should have been the word but we've forgot our own rules. Became complacent. Hopefully this is just a rumour Bro. Time will tell ! Quote Link to post Share on other sites More sharing options...
dougie76 15,356 Posted February 25, 2014 Share Posted February 25, 2014 I know its only rumours, but the last time my mate gave me a rumour he told me all about craig whytes pastwhen his companies banked with him, it all ended with the fraud squad involved.He warned me then that whyte was a crook and i just laughed, oh silly me!!It's so easy to say that after the fact, if only you and your mate told us at the time the club could have saved ourself a whole lot of trouble Quote Link to post Share on other sites More sharing options...
hammer93 15,055 Posted February 25, 2014 Share Posted February 25, 2014 my heads not in the sand, I just asked some pretty simple questions to establish whether your admin 2 claims had any basis, you haven't answered them which leads me to believe you are scaremongeringIm not scaremongering pal, THE 1.5MILL IS NOW DEBT now we raked in 22mill from a share issueand it would seem that our operating costs have seen this money run dry.Now im not a rocket scientist but if our running costs are that steep how long before huge investment or future loans are requiredto keep paying the players wages? Quote Link to post Share on other sites More sharing options...
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