Dave King promised transparency at Rangers ... at the AGM he’s going to have to finally deliver it

[Malvern 11,329]

1 minute ago, bennybongo said:

Of course, ffs. And that's why I'm pissed off with the Dude's shite. Fine from some money grabbing parasite like Keith Jackson, but you'd expect a tad more from a freelance blogger who genuinely supports us. 

To be fair to the Dude I do disagree with a lot of his shit but he also writes some good stuff, why is it good? Maybe it is good because I agree with it and it is my understanding of the information, as far as I can fairly tell accurate, I am no defender of him as he can look after his own arse, which he does, but i suggest you don't discount him mate.

As Bears just now we all have issues and points of view of what is going wrong and none is paramount over another.

I just wish this shit would stop and we could at least have a CHANCE of playing at their level just now.

[The Dude 20,026]

7 minutes ago, bennybongo said:

Based on it is what business men do. Somehow King has an angle here, even the most credulous should see that. Your theory boils down to - he's throwing away a fortune with no hope of a return, not because he loves Rangers (which most people don't believe anyway), no, it is because he is a crackpot egomaniac. 

And it’s a lot more credible imo than he invested in us and covered the funding gap each year in order to make a substantial financial gain from Scottish football and also claw his original 20m back when Scottish football is a financial black hole. 

[bennybongo 111]

2 minutes ago, The Dude said:

 

And if he’s here for a profit he’d want that back plus the loans. Plus his original 20m apparently. So how does he make 15% of the club (because that’s all he owns) worth over £30m because it’s nowhere near it just now.

Has Roman Abramovich invested in Chelsea? Every last Ruble he has given them has been a loan (over £1.1billion worth)

Aye OK, but King isn't Abramovic, therefore hasn't the funds to see it through for very long. He's going to - already has -  completely screw Rangers. Then you can read back your spirited defence of the crook. 

[Blue Dutch 1690 10]

13 hours ago, The Dude said:

You appear to one of a very small number to have got that impression from the blog. Most have seen it in the way it was intended - highlighting some of the board's failings and questioning those.

It's said a few times that King has made promises which he has yet to come close to fulfilling.

I completely disagree with the idea he's just here to make money. Scottish football isn't exactly the easiest place to make money and it's made even worse when you look at how much of a shit show we are. You'd probably have more chance of making money investing in Blockbuster video than you would Rangers just now. 

Has King not got his financial hands tied behind his back by the RSA courts and the RSA tax man whereby his declaration of poverty to them would be found out to be a lie if he invested/loaned money to the club resulting in a prison sentence.    I believe he does love the club and has good intentions towards it but the precarious position of his business in RSA is impacting on what he can and cannot do as Chairman of Rangers. 

Maybe he just has to bite the bullet and hand over the reins. 

 

 

 

[Malvern 11,329]

1 minute ago, The Dude said:

And it’s a lot more credible imo than he invested in us and covered the funding gap each year in order to make a substantial financial gain from Scottish football and also claw his original 20m back when Scottish football is a financial black hole. 

going to need to call you out on that one Dude, where has he covered the financial gap? FFS he can't even fix up Ibrox our pride and glory!

[bennybongo 111]

1 minute ago, The Dude said:

And it’s a lot more credible imo than he invested in us and covered the funding gap each year in order to make a substantial financial gain from Scottish football and also claw his original 20m back when Scottish football is a financial black hole. 

No. He is a shady, blacklisted pariah who is stowing some of his dubious wealth in Rangers for a while. He will cash out having made a few points, and move on. You're the only one mentioning clawing back his legendary 20 million (no laughing at the back). 

[Malvern 11,329]

1 minute ago, Blue Dutch 1690 said:

Has King not got his financial hands tied behind his back by the RSA courts and the RSA tax man whereby his declaration of poverty to them would be found out to be a lie if he invested/loaned money to the club resulting in a prison sentence.    I believe he does love the club and has good intentions towards it but the precarious position of his business in RSA is impacting on what he can and cannot do as Chairman of Rangers. 

Maybe he just has to bite the bullet and hand over the reins. 

 

 

 

Useful excuse saying "I am in trouble avoiding tax in SA so cannot invest just now but as soon as that is over I will be in there".

Load of shite to me, he's a chancer and nobody will convince me now that Dinky is going to do squat that does not help him. I expect the AGM to be a rip roaring success and cheers from the resident muppets as they hear they are getting better quality pies and Bovril. 

[The Dude 20,026]

1 minute ago, Blue Dutch 1690 said:

Has King not got his financial hands tied behind his back by the RSA courts and the RSA tax man whereby his declaration of poverty to them would be found out to be a lie if he invested/loaned money to the club resulting in a prison sentence.    I believe he does love the club and has good intentions towards it but the precarious position of his business in RSA is impacting on what he can and cannot do as Chairman of Rangers. 

Maybe he just has to bite the bullet and hand over the reins. 

 

 

 

No. Put it this way. If my family had a family trust in which my assets were held and we decided to invest heavily in the club, I could reasonably argue that as an individual ‘The Dude’ doesn’t have the finances to make on offer for the remaining shares while my family trust could be worth literally billions. 

King tried to play semantics and it ended up biting him on the arse.

[The Dude 20,026]

3 minutes ago, Malvern said:

going to need to call you out on that one Dude, where has he covered the financial gap? FFS he can't even fix up Ibrox our pride and glory!

The last two years when we have made a loss in the annual accounts without having necessary external lenders to cover it and stop us going into admin again. 

The most recent set showed a 6m loss iirc? Had that not been filled by someone -whether it was directors loans, an overdraft or anything other method - we’d have been back in admin in each of the last few years.

[bennybongo 111]

2 minutes ago, The Dude said:

No. Put it this way. If my family had a family trust in which my assets were held and we decided to invest heavily in the club, I could reasonably argue that as an individual ‘The Dude’ doesn’t have the finances to make on offer for the remaining shares while my family trust could be worth literally billions. 

King tried to play semantics and it ended up biting him on the arse.

Why are you even quoting his bullshit about family trusts and 20 million. The guy is a fucking liar. 

[bennybongo 111]

1 minute ago, The Dude said:

The last two years when we have made a loss in the annual accounts without having necessary external lenders to cover it and stop us going into admin again. 

The most recent set showed a 6m loss iirc? Had that not been filled by someone -whether it was directors loans, an overdraft or anything other method - we’d have been back in admin in each of the last few years.

No. Ashley would have kept us afloat. We have King instead. 

[The Dude 20,026]

4 minutes ago, bennybongo said:

No. He is a shady, blacklisted pariah who is stowing some of his dubious wealth in Rangers for a while. He will cash out having made a few points, and move on. You're the only one mentioning clawing back his legendary 20 million (no laughing at the back). 

It’s been claimed repeatedly in this thread that’s why King is back. If he’s here to make a profit, you’d think you’d invest somewhere other than a company you’ve just watched 20m disappear into thin air in. 

So how does he go about make a profit from the money he is “stowing” in the club? 

[Malvern 11,329]

2 minutes ago, The Dude said:

The last two years when we have made a loss in the annual accounts without having necessary external lenders to cover it and stop us going into admin again. 

The most recent set showed a 6m loss iirc? Had that not been filled by someone -whether it was directors loans, an overdraft or anything other method - we’d have been back in admin in each of the last few years.

Yeah in admin as the investment is where? I could go into my piggy bank for the grand children's xmas pressies as we are getting fuck all from Dinky.

Dinky is a magnet of failure, the crook can't stay out of court FFS, the sooner we wake up the better.

[The Dude 20,026]

Just now, bennybongo said:

No. Ashley would have kept us afloat. We have King instead. 

Mike Ashley? Aye he was doing a grand job of keeping us afloat (he owned a little under than 5% fewer shares than King does) 

[Malvern 11,329]

1 minute ago, The Dude said:

Mike Ashley? Aye he was doing a grand job of keeping us afloat (he owned a little under than 5% fewer shares than King does) 

He had Newcastle, not sure you remember the two club rule?

[The Dude 20,026]

Just now, Malvern said:

Yeah in admin as the investment is where? I could go into my piggy bank for the grand children's xmas pressies as we are getting fuck all from Dinky.

Dinky is a magnet of failure, the crook can't stay out of court FFS, the sooner we wake up the better.

Covering the day to day losses made by the club. 

Off the top of my head we’ve lost something like 10m over the last few years. Someone has put that in or we wouldn’t be sitting here discussing the club.

 

[saltire266 502]

Lets just go for the bottom line. The man is a convicted fraudster , a fucking liar since the very first day who only got in because he promised others gravy to do the dirty work. SA is a corrupt country from top to bottom so he will be up to his eyes in it.

Name one thing he has achieved in his spell here and what about all the shite he witnessed with his haircut mate over the problem years yet done nothing???

 

Get him to fuck and get a qualified person for the job it Rangers FFS Infact get his wee side kick to fuck also. There is no defense for any of them.Period

[bennybongo 111]

1 minute ago, The Dude said:

It’s been claimed repeatedly in this thread that’s why King is back. If he’s here to make a profit, you’d think you’d invest somewhere other than a company you’ve just watched 20m disappear into thin air in. 

So how does he go about make a profit from the money he is “stowing” in the club? 

Through interest on the "soft loans"; through gaining securities and intellectual property and selling them at the right time. Remember, King hasn't invested anything. Players have been acquired with season ticket money. Also, it simply suits Dave to have a large portion of his portfolio behind the fog of war that is a football club. Maybe SARS doesn't agree. 

[The Dude 20,026]

Just now, Malvern said:

He had Newcastle, not sure you remember the two club rule?

I do. He was allowed by the SFA to own 9.9% Dual-ownership rules only apply to clubs in the Football League and not the Premier League so any breach under English rules came into affect when Newcastle were relegated before last season, however as he held the shares before Newcastle were relegated the FL took no action. (I spent a fair bit of time going back and forward with the Football League on this one last year)

[Malvern 11,329]

1 minute ago, The Dude said:

Covering the day to day losses made by the club. 

Off the top of my head we’ve lost something like 10m over the last few years. Someone has put that in or we wouldn’t be sitting here discussing the club.

 

Well who's spunking the money from the ST holders and advertising? If we cannot live within our means then that tells us something, we do not have the means to run at the level our club expects.

[The Dude 20,026]

Just now, bennybongo said:

Through interest on the "soft loans"; through gaining securities and intellectual property and selling them at the right time. Remember, King hasn't invested anything. Players have been acquired with season ticket money. Also, it simply suits Dave to have a large portion of his portfolio behind the fog of war that is a football club. Maybe SARS doesn't agree. 

The interest-free loans?

Were it the case that ST sales were funding everything we’d have been in admin several times since our income is hugely outstripped by our spending.

[Malvern 11,329]

1 minute ago, The Dude said:

I do. He was allowed by the SFA to own 9.9% Dual-ownership rules only apply to clubs in the Football League and not the Premier League so any breach under English rules came into affect when Newcastle were relegated before last season, however as he held the shares before Newcastle were relegated the FL took no action. (I spent a fair bit of time going back and forward with the Football League on this one last year)

He didn't invest because there was a major issue maybe? Let me see, it might have been "Delta India November Kilo Yankee Delta Alpha Victor Echo"!

I wouldn't invest in a club with that fucker in charge.

[The Dude 20,026]

1 minute ago, Malvern said:

Well who's spunking the money from the ST holders and advertising? If we cannot live within our means then that tells us something, we do not have the means to run at the level our club expects.

We only made 1.5m quid from sponsors and advertising last year. Joe Garner’s Transfer fee alone would have swallowed that up. 

21m all year from gate-receipts and spent 18m staffing the club (and that’s still being 20m per year behind celtic on wages)

[The Dude 20,026]

2 minutes ago, Malvern said:

He didn't invest because there was a major issue maybe? Let me see, it might have been "Delta India November Kilo Yankee Delta Alpha Victor Echo"!

I wouldn't invest in a club with that fucker in charge.

So he didn’t invest when he had his guys in the board because King was on the outside moaning like fuck? Kinda ruins the suggestion that Ashley would have dug us out tbh

[bennybongo 111]

3 minutes ago, The Dude said:

So he didn’t invest when he had his guys in the board because King was on the outside moaning like fuck? Kinda ruins the suggestion that Ashley would have dug us out tbh

You think Ashley would have let the club go into administration? No, he'd have kept it going, and maximised his profits. I think that would have meant doing a better job than Dodgy Dave. Not saying he'd have pumped money in, but he has the wherewithal to turn a better profit for himself by investing a little. King is investing nothing, no matter which way you try to spin it.