frost

It starts with the normal Rangers fan in the street, we should be defending our club not the other way around.

Across the city their club doesn't have much problem defending itself against whatever or whenever they feel perceived wrongs against them, maybe we should adopt their stance, after all our board must get paid for something even to tell the PR people to do their job.

There are things in life and in general that I don't like, if the club is not going to defend us and itself what chance do I or any other fan have. Green has said a lot I haven't seen much substance, just to save you playing the he stepped up card, The Rangers would have survived with or without Green.

And that's why we have the lopsided exposure in the media.

I prefer to see it as reality the world isn't out to get us, even though many seem to enjoy wallowing in that thought.

They report it once, anything bad about Rangers gets tagged onto every Rangers story good or bad.

They reported it, I prefer to leave paranoia where it belongs, at the girodome.

Quite a few contradictions in Greens talk this morning from previous utterances, problem is figuring out which ones are true and those that are not.

STV and the Scotsman gave it enough publicity.

We should be worrying about our own laughable training regime.

A total non story in football terms, Leggat is slipping back into paranoia.

Blind faith is exactly that, blind, just ask Bob Marley.

Therein lies the unspeakable, even our club can only take so much damage and then no more.

May explain how Whyte is feeling shafted!

It is annoying to say the least that the tims appear to have been one step ahead of us news wise, they must be getting these leaks from somewhere.

Total bullshit.

 

Who is meant to be buying these properties?

 

It's just a scare story by them to try and put people off getting involved in the share issue. Very transparent.

That was my thought, they appear to be steering in the direction that this is what the share offer would finance, these are the sorts of statements that the club should realy be burying immediately.

This was posted on FF a few minutes ago, anyone any ideas of its probity.

This has just been posted by their mouthpiece Paul from Celticquicknews.

I have a Heads of Terms document for the sale and leaseback of Ibrox, Murray Park and the Albion Car Park.

The purchase price for all three assets is £7.285m. In addition to this there is a £6.55m loan provision with 15% interest payable monthly (£985.5k annually). Initial rent for all three properties is £1.8m. The 20-year lease provides for upwards-only reviews every five years by either 2% p.a. or RPI, whatever is greater (so assuming RPI is less than 2% each year, after five years, rent would be £1.987m).

Annual costs for rent and interest would be £2.785m. Current season ticket sales are reported to be approximately 36,000 with a standard adult price of £286, income net of vat will be around £8.5m.

Although the top line figure for both sale and loan is £13.835, “the initial payment will be less 3 years rent [£5.4m] to compensate for the lack of guarantee covering the rental payments”, so monies paid would be £8.435m as the first three years rent is deducted from the total.

Crucially, rent is to be securitised against ticket receipts and the new landlord is to be granted “first charge on the season tickets”, so, just as Craig Whyte planned with Rangers, Sports Direct FC would collect ticket money before passing it on to the security holder.

If the buyer attains planning permission for residential properties at Murray Park, a provision releases the seller from having to repay the £6.55m loan and cancels future interest payments. This speculative clause would release the club from punitive interest repayments but would require them to find a reasonably priced ash park to train on. Perhaps the Albion Car and Training Park.

“The tenant” will be able to buyback the stadium. In year one the price would be £10m (they would still owe the £6.55m loan). The set price increases by 12% p.a. for 10 years, so the year 10 price would be £27.7m. Thereafter “price will revert to Market Value but will not be less than £20m”. The market value of Celtic Park is around £50m. There is no buyback provision for Murray Park or the Albion Car Park.

The deal is on the table but will not be signed before the share issue, or if “the tenant” wins the Euromillions Jackpot (that’s not a euphemism for Champions League money, I mean the actual lottery), or finds some magic beans.

Green is involved as the preferred bidder with the watertight contract, if D+P soild Green the assets and all else illegally the sale is null and void, breaking the law whither insolvency or criminal is exactly that illegal with penalties.

If Hodge doesn't sign of because of D+P's duplicity it will affect us and everything that has gone before big time, of that there is no doubt.

At the end of the day Lord Hodge will make the decision as to where we are could have been and should have been with regards to administration, I really don't see him signing anything off after the present revelations with more it is said to come.

We could be in for a long period of further uncertainty and of course if Hodge doesn't sign off, what then becomes the roll of the liquidators BDO, will it be redefined.

Played a better game, or had the inside track all along.

 

I wonder if Green will react today?

Have heard that Green was given legal advice not to accept Talksport's on air interview yesterday, which was to have been broadcast at around mid-day.

All we need now for Timmy Thomson is to throw in the SAS, snipers and some IED's and we have the next series of Strikeback.

 

He's a frustrated fiction writer is our Thommo.

What we need is the club/PR people to address this situation, the more it is left unchallenged the more those who hear of it will accept it as fact, why do our extremely poor PR people always have to be forced into action by fans.

I still think VB has an overblown sense of its own importance, most elitist private members sites do in my opinion.

This is an ideal opportunity for our PR department to start showing some worth if they have any. They can kill two birds with the one stone by asking the QC for his recollections and if they coincide with those of Thomson, they can also have the constant rumour of Ally knew the names and deliberately set out to mislead by claiming that he didn't know the names put to bed once and for all.

As in every walk of life some people and some unempowered bodies have ideas of their own self importance and position in the general scale of things, it has never been any different.

There is no statute of limitations for actions which are considered criminal, by or for anyone.

The question being asked in Parliament House is why Duff and Phelps granted HMRC voting rights of circa £93 million for a contested and undecided alleged debt, that action ensured there would be no CVA, interesting times ahead.

Wait till they find out that Lord Hodge has not signed off.

Mate has just told me that threads asking questions about Ally and his comments on FF are summarily deleted, so much for a broad church on debating issues.