Mountain Bear
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Everything posted by Mountain Bear
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The bank had an opportunity to recover its money from a business which was in very real peril, without having to do so via the forced sale of Its iconic stadium. It's a no brainer.
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Anyone wanting to understand LBG's attitude towards the sale of RFC, merely needs to consider the potential PR and commercial disaster which would have unfolded if they'd been in the position of having to put us into Administration and ultimately cause the sale of Ibrox under the Bond and Floating Charge they held over the Club's assets. Remember, there was a massive contingent liability hanging over the Club at the time, putting off all buyers, as there was no way that RFC could have traded out of the situation if HMRC had won. SDM had been trying to sell for years and NO-ONE was interested. So, £18m would have been a rounding error compared to financial impact that PR nightmare would have caused LBG. Rather than ask why LBG were so keen on Whyte, ask why were they so keen for someone, anyone, to buy us and clear the bank debt? Follow the money indeed.
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Wearing mine for the first time at the game today. Spread the word.
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Your invite to the Gersnet Christmas Dinner
Mountain Bear replied to Frankie's topic in Rangers Chat
Don't worry, we've invited two big lads from Greenock for that... -
You'd think he was describing a Middle Eastern conflict rather than a football match the way he was going on.
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Usual BBC suspects McLaughlin & Cosgrove were quick off the mark getting their digs in after the draw. Bitterness dressed up as questions.
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Spot on. I suspect he's learned his lesson already, given the attention he's received.
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Has Ashely used our 'own money' from Rangers Retail to bail us out ?
Mountain Bear replied to buster.'s topic in Rangers Chat
Ashley doesn't need a pretext, he can do what he likes regarding financial decisions pertaining to the Retail Contract GreenCo gave him. It seems as clear as day to me. Why give someone money they're due, when you can withhold it and then lend them a similar among of cash, securing far greater power and control in the process. We need to stop putting our hopes and faith in others. If we want to influence our destiny, the fans need influence from a significant collective shareholding. -
I'm sure the fan shareholding groups will be keen to see the terms of both loan offers, especially if any assets have been pledged as collateral to Ashley.
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Where did I mention King in my post?
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Sentence to be carried out in January.
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I'm no lawyer, but if you take a director to court in a personal capacity, I'm not sure that the board would have any right to spend the Club's money defending the case. Happy to defer to any learned Gersnetters on that point though. Hopefully, a credible threat of legal action might be enough.
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It could. But I can't think of a better purpose for the RFFF now that out titles are secure, than holding the custodians of our Club to their legal and moral duties.
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Directors would leave themselves open to legal challenge if they accepted an obviously inferior offer, as that would be against the interests of shareholders (collectively). It's called their fiduciary duty. Anyone can alter their loan terms before the directors decide. It doesn't require shareholder approval.
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If Ashley wants a war, the way I'm feeling right now, he can have it. A one-off boycott with a near empty stadium is the next step and it would be a big deal for me personally to do that.
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You're right Zappa of course. However, the sheer contempt shown to Rangers fans by those peddling this guff is the real insult here. What Ashley & GeeenCo are doing is so transparent and predictable. Trying to then persuade us it's in the Club's best interests insults my intelligence to the point where I want to tell them to f**k off too. In an attempt to channel that anger into something more positive, I wonder whether the RFFF could be used to challenge the directors in court regarding their fiduciary duties to the Club, if they accept a loan from Ashley on terms which are less favourable than other loan options on the table?
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And what does our esteemed Chairman have to say after such a tumultuous day?
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I didn't think he was, no.
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And I don't really want that myself if I'm honest, but it would bring the issue of the Manager to a head and the S***s might just decide to cut and run. If they don't deal now, the alternatives are all grim; starve them out and risk Admin 2, with Ashley potentially the biggest creditor; find someone willing to pay over the odds for what's left of the Club in 12 months (tough ask); drift on with Ashley keeping us alive via loans and no real investment. Any other realistic options?
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You have nailed it in one Zappa. They don't have to worry about share dilution with Ashley, he'll get his pound of flesh in other ways. I almost hope we don't get promoted. It might be the only way of getting rid of these parasites, who will cling on in the hope that they get a better offer once the Club is back in the top flight. That's despite the obvious flaw that they'll have sold off half the assets / income streams just to keep us afloat in the interim.
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If there are any issues with shadow directors at Rangers, then they involve people other than King. As for the "stick on certainty" that the AIM will block his involvement, I think King might just have checked that out in advance, don't you Bill? I don't know who he thinks he's influencing with this drivel, but at least it's good for a giggle. Jack, on the other hand, is really losing his touch. Time to retire wee man.
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Vote for Gersnet in the Football Blogging Awards
Mountain Bear replied to Frankie's topic in Rangers Chat
Gersnet is only in the shortlist for the Forums category. Click that one and you'll see it among the choices available. You have to vote in every category, but there's an "I don't know" option in each one. -
Agree with your main point BD, but I think it's pretty widely accepted that Ashley gets access to massive advertising opportunities at a fraction of the normal rate card cost (and mostly free) from NUFC. That in itself isn't necessarily a problem, but if NUFC is being starved of investment elsewhere / or is being run to always turn a profit, with one of the main income streams being syphoned off by the owner, then they are always going to struggle to compete in the EPL. If Ashley thinks that model would work in Scotland, he must also put a much higher value on the ad space than the Club have ever got remotely close to generating before, even in the CLeague years. Otherwise the investment required to get us into the later stages of Euro competitions would far outweigh any Scottish Club's income from commercial activities. The bottom line is that if we want rid of Tweedle Dum and Tweedle Dee, GreenCo, the hedge funds and Interpol fugitives in the short term, Ashley might have to be part of the answer - whether we (or Dave King) like it or not. If ever there was a case for fans holding an genuinely influential shareholding in the Club, that particular dichotomy is it.
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Vote for Gersnet in the Football Blogging Awards
Mountain Bear replied to Frankie's topic in Rangers Chat
Me too. C'mon folks, let's get the blue vote out in force! -
Vote for Gersnet in the Football Blogging Awards
Mountain Bear replied to Frankie's topic in Rangers Chat
All the votes thus far have been zero'd and you have to vote again for the final decision.