kni Posted April 24, 2014 Report Share Posted April 24, 2014 "Exclusive" BBC interview It sounds like the season ticket boycott is having an effect and that Rangers are running out of cash. Significantly, There is no mention of the reported loan from Easdale. He must be very worried to go public with his views. "Rangers' recent accounts were signed off for the next 12 months on the basis of an uplift in season ticket sales, but Sandy Easdale said indications were that sales were "slow"... "The major shareholder, speaking exclusively to BBC Scotland, admitted that the situation was "fragile"... "Asked whether supporters not renewing could run the risk of a second administration, Easdale replied: "That's a difficult question. And it's a question that I don't want to answer or be in a position that this board would be forced into that situation. "Again, I would say that in 140 years, the club's gone into administration once; I don't think it would survive a second one... "Additionally, a senior source at Ibrox has told BBC Scotland he believes Rangers are "on a life-support machine"." Are King and his allies trying to force a second administration to buy the club cheaply? Quote Link to comment Share on other sites More sharing options...
Third Lanark Posted April 24, 2014 Report Share Posted April 24, 2014 "Exclusive" BBC interview It sounds like the season ticket boycott is having an effect and that Rangers are running out of cash. Significantly, There is no mention of the reported loan from Easdale. He must be very worried to go public with his views. "Rangers' recent accounts were signed off for the next 12 months on the basis of an uplift in season ticket sales, but Sandy Easdale said indications were that sales were "slow"... "The major shareholder, speaking exclusively to BBC Scotland, admitted that the situation was "fragile"... "Asked whether supporters not renewing could run the risk of a second administration, Easdale replied: "That's a difficult question. And it's a question that I don't want to answer or be in a position that this board would be forced into that situation. "Again, I would say that in 140 years, the club's gone into administration once; I don't think it would survive a second one... "Additionally, a senior source at Ibrox has told BBC Scotland he believes Rangers are "on a life-support machine"." Are King and his allies trying to force a second administration to buy the club cheaply? I was under the impression it was fairly well known that Rangers went into liquidation in 2012 not administration? Quote Link to comment Share on other sites More sharing options...
kni Posted April 24, 2014 Author Report Share Posted April 24, 2014 (edited) I was under the impression it was fairly well known that Rangers went into liquidation in 2012 not administration? Rangers went into administration in 2012 before being liquidated a few months later, hence "second administration". ETA - In the interview, Easdale is suggesting that a second administration would lead to a second liquidation. Perhaps there is more bad news coming in the promised report. Edited April 24, 2014 by kni Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted April 24, 2014 Report Share Posted April 24, 2014 Rangers went into administration in 2012 before being liquidated a few months later, hence "second administration". ETA - In the interview, Easdale is suggesting that a second administration would lead to a second liquidation. Perhaps there is more bad news coming in the promised report. Surely if that lot faced another administration/liquidation it would be anything but "bad news"? Quote Link to comment Share on other sites More sharing options...
Mr Bunny Posted April 24, 2014 Report Share Posted April 24, 2014 Rangers went into administration in 2012 before being liquidated a few months later, hence "second administration". ETA - In the interview, Easdale is suggesting that a second administration would lead to a second liquidation. Perhaps there is more bad news coming in the promised report. Not really. Dundee had a second administration. Old Rangers had one then were liquidated. The new club created to replace it have never been in administration but may yet face it. This isn't just about winding up Rangers fans, it's the actual legal situation. And if a club can be liquidated any number of times and be the same club then that's phoenixing (which is illegal) and shafting creditors and all the other Scottish Football clubs. 1 Quote Link to comment Share on other sites More sharing options...
kni Posted April 24, 2014 Author Report Share Posted April 24, 2014 (edited) Surely if that lot faced another administration/liquidation it would be anything but "bad news"? Bad news for Rangers fans. Not really. Dundee had a second administration. Old Rangers had one then were liquidated. The new club created to replace it have never been in administration but may yet face it. This isn't just about winding up Rangers fans, it's the actual legal situation. And if a club can be liquidated any number of times and be the same club then that's phoenixing (which is illegal) and shafting creditors and all the other Scottish Football clubs. My understanding is that Rangers' SFA licence from transferred from Oldco to Sevco. If so, another administration would the club's second but the new owner's first. As for shafting other Scottish Football Clubs, that's being going on for years. The carve-up for the Scottish Cup final and semi venues is just the latest example. The main point, however, is that Rangers may be gone sooner rather than later. Edited April 24, 2014 by kni Quote Link to comment Share on other sites More sharing options...
billko Posted April 24, 2014 Report Share Posted April 24, 2014 Bad news for Rangers fans. My understanding is that Rangers' SFA licence from transferred from Oldco to Sevco. If so, another administration would the club's second but the new owner's first. As for shafting other Scottish Football Clubs, that's being going on for years. The carve-up for the Scottish Cup final and semi venues is just the latest example. The main point, however, is that Rangers may be gone sooner rather than later. The two best stadia in the country used for showpiece cup games and it's a carve up? Only in Scotland Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted April 24, 2014 Report Share Posted April 24, 2014 The two best stadia in the country used for showpiece cup games and it's a carve up? Only in Scotland The big question is what assets do Rangers now have to sell in a liquidation? The Albion has Easdales guaranteed loan against it, and Murray park and Ibrox may not be owned by Rangers Quote Link to comment Share on other sites More sharing options...
Tom Hosie Posted April 24, 2014 Report Share Posted April 24, 2014 The two best stadia in the country used for showpiece cup games and it's a carve up? Only in Scotland A semi-final played on the home ground of one of the participants who benefited in ground rent and gate money. Only in Scotland. 2 Quote Link to comment Share on other sites More sharing options...
Blackpool Jags Posted April 24, 2014 Report Share Posted April 24, 2014 This makes truly shocking reading: A The Rangers senior director telling it like it is?? (All things being relative) There is definitely a coup in the offing: seems like King, backed by the Union of Fans, are actively seeking train wreck Mk II by actively dissuading fans from renewing their STs. The point of this, presumably, is to force Armageddon - inc possible / likely liquidation - thereby enabling King to ride into Govan atop his magnificent white horse to save the day, leaving him in supreme, unchallengeable control of all things hvn stained. Quote Link to comment Share on other sites More sharing options...
kni Posted April 24, 2014 Author Report Share Posted April 24, 2014 The two best stadia in the country used for showpiece cup games and it's a carve up? Only in Scotland But they are not the two best stadia as Murrayfield is bigger and better. It been used for football in the past. Hearts played Barcelona in a friendly there in 2007. Ironically, Celtic plan to play their Champions League qualifiers at Murrayfield in July. Quote Link to comment Share on other sites More sharing options...
ClydebankJag Posted April 24, 2014 Report Share Posted April 24, 2014 "Again, I would say that in 140 years, the club's gone into administration once; I don't think it would survive a second one... In what way did they survive the first time? Quote Link to comment Share on other sites More sharing options...
JaggyMad Posted April 24, 2014 Report Share Posted April 24, 2014 But they are not the two best stadia as Murrayfield is bigger and better. It been used for football in the past. Hearts played Barcelona in a friendly there in 2007. Ironically, Celtic plan to play their Champions League qualifiers at Murrayfield in July. Very true mate, but do you seriously think the SFA would give their "show piece" cup final to the SRU. No chance, it's all about the money at the SFA. Quote Link to comment Share on other sites More sharing options...
H Wragg Posted April 24, 2014 Report Share Posted April 24, 2014 There is definitely a coup in the offing: seems like King, backed by the Union of Fans, are actively seeking train wreck Mk II by actively dissuading fans from renewing their STs. Mk I for this club, surely? Surprised at you of all people slipping up, BJ? Quote Link to comment Share on other sites More sharing options...
Blackpool Jags Posted April 24, 2014 Report Share Posted April 24, 2014 ^ ^ ^ Cheers, Martin. I've no been well you know. Quote Link to comment Share on other sites More sharing options...
Mr Bunny Posted April 24, 2014 Report Share Posted April 24, 2014 But they are not the two best stadia as Murrayfield is bigger and better. It been used for football in the past. Hearts played Barcelona in a friendly there in 2007. Ironically, Celtic plan to play their Champions League qualifiers at Murrayfield in July. The real point is that no thought was put into the possibility of Rangers reaching the semi - they should have ruled that if this happened they'd hold it elsewhere. Ditto if Celtic had reached the final. Quote Link to comment Share on other sites More sharing options...
billko Posted April 24, 2014 Report Share Posted April 24, 2014 Very true mate, but do you seriously think the SFA would give their "show piece" cup final to the SRU. No chance, it's all about the money at the SFA. Spot on JaggyMad, why would the SFA use a rugby stadium? Lets just say that nobody expected Rangers to reach a semi final but i'm sure most folk expected Celtic to reach a final or even both finals as they are the strongest side by far. They blew it in the cups but they were guaranteed two home games.if they hadn't.blew it. Quote Link to comment Share on other sites More sharing options...
Juan Kerr Posted April 25, 2014 Report Share Posted April 25, 2014 So, does the Easdale interview mean that the BBC are no longer banned from Skull Mountain? Quote Link to comment Share on other sites More sharing options...
ThickAsThieves Posted April 25, 2014 Report Share Posted April 25, 2014 Does any know what time this report is due out? Worth a look although I think Easdale's interview was basically a warning that it'll give zero real insight. Quote Link to comment Share on other sites More sharing options...
kni Posted April 25, 2014 Author Report Share Posted April 25, 2014 In what way did they survive the first time? That quote was from Sandy Easdale who was saying that the "club" survived administration and liquidation. He seems to believe that a Sevco administration would lead to another liquidation and permanent extinction. I would disagree as the SFA and SPFL are terrified of such a scenario. They would readily sanction the transfer of the club's licence, business and assets to another Newco. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted April 25, 2014 Report Share Posted April 25, 2014 That quote was from Sandy Easdale who was saying that the "club" survived administration and liquidation. He seems to believe that a Sevco administration would lead to another liquidation and permanent extinction. I would disagree as the SFA and SPFL are terrified of such a scenario. They would readily sanction the transfer of the club's licence, business and assets to another Newco. Again what assets? It still hasn't been established as to who owns the ground, the training facilities, and we know that Easdales loan agreement means that if it is defaulted on by an administration or liquidation then he has the Albion (Which can park alot of McGills buses). There may be a license to transfer, but that club would need a ground, and that club more than likely would need to rent it back from the mystery man (Greene or Craig Whyte's Father if the rumours are true). The business to transfer would have no assets to trade against, and possibly cripling ground rent putting off any potential spiv waiting in the wings. The reason for Kings season ticket boycatt appears to be to get his hands on the ground and Murray park through means of collateral against the ST money for when the administration / liquidation came, but if Rangers International (Or whatever they are called now) don't own it they cannot offer it as a guarantee. Quote Link to comment Share on other sites More sharing options...
kni Posted April 25, 2014 Author Report Share Posted April 25, 2014 (edited) The Rangers business review has been published. The key point is "the Board has determined that over the next three years it expects to raise between £20 million and £30 million to be invested in the Club. The Board will consider the most appropriate source of finance which may be available to the Club including equity and other sources in order to obtain the necessary funding whilst also seeking to ensure the Club’s financial stability is protected... "the Board intends to seek shareholder approval in Autumn 2014 for the issue of additional equity". Edited April 25, 2014 by kni Quote Link to comment Share on other sites More sharing options...
kni Posted April 25, 2014 Author Report Share Posted April 25, 2014 Again what assets? It still hasn't been established as to who owns the ground, the training facilities, and we know that Easdales loan agreement means that if it is defaulted on by an administration or liquidation then he has the Albion (Which can park alot of McGills buses). There may be a license to transfer, but that club would need a ground, and that club more than likely would need to rent it back from the mystery man (Greene or Craig Whyte's Father if the rumours are true). The business to transfer would have no assets to trade against, and possibly cripling ground rent putting off any potential spiv waiting in the wings. The reason for Kings season ticket boycatt appears to be to get his hands on the ground and Murray park through means of collateral against the ST money for when the administration / liquidation came, but if Rangers International (Or whatever they are called now) don't own it they cannot offer it as a guarantee. The assets on the balance sheet in the accounts which include Ibrox and the training ground. If the club does not own these assets, the directors and the club's auditors will have made fraudulent statements. Quote Link to comment Share on other sites More sharing options...
Mr Scruff Posted April 25, 2014 Report Share Posted April 25, 2014 (edited) If it had been Hampden and Queens Park had qualified for the semi would there have been the same furore? And as far as I can see other countries without a recognised 'National Stadium' do have the home side playing at least in the final on occasion. Maybe I have a blind spot on this one. I see it as sensible while Hampden is out of commission to use the other two biggest football stadiums in the country for the showpieces. The distortion is all down to the sizes of Celtic and Rangers support in comparison to the rest of the senior teams'. edited to add: Post in response to an earlier 'Only in Scotland' post Edited April 25, 2014 by Mr Scruff Quote Link to comment Share on other sites More sharing options...
David Brent Posted April 25, 2014 Report Share Posted April 25, 2014 They seem to have lost £67 million out of £70 million raised in the last 18 months. Even for Rangers that seems to be staggering mismanagement. No scouting network, no investment in youth development but hey "still the most successful club side in the history of the world" blah blah blah Quote Link to comment Share on other sites More sharing options...
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