Is Sir David Murray planning to sell Rangers?

[craig 5,199]

i was thinking on collateral against the debt. surely our revenue + assets should allow more than 15 mill facility. Not that i would want to go any higher in debt than we are now. I am just trying to lose the point of the bank being in charge.

 

Assets dont equate to cash though pete. The banks will lend based on ability to repay the debt and, as BD says, it is highly unlikely that they would demand a sale of Ibrox to service that debt.

 

Again, regarding the 15 mill facility - that is ON TOP of a 20 mill loan we have. 35 million of debt on revenue of 50 mill is a LOT of money, especially when we have shown little propensity for profit over the years.

[Super_Ally 0]

Cheers to Craig and BD for explaining this to the financial dim-wits (i.e. me ).

 

On first reading the conclusions in the OP looked sound. Helps to have you accountant types about to explain the finances.

[pete 2,499]

AS Ally says thanks BD and Craig:thup: for making things more clear.

 

All we need is Murray to make things clearer now.

[maineflyer 0]

As is the case at many underperforming and deeply indebted businesses, I believe the bank is indeed insisting (as is its right) on much less profligate financial performance at Rangers, which in turn is forcing the Rangers board to implement appropriate strategies to deliver that performance.

 

I don't believe that means the bank is "in charge" at Rangers but it does mean the bank feels Rangers is failing to manage its debt properly, and is almost certainly imposing parameters that are causing the changes we now see. I've heard (I believe reliably) of very acrimonious meetings where Murray has been forced to accept the bank's demands for debt reduction. I believe this is true and that, to this extent, the blowhard's wings have been severely clipped.

[Zappa 0]

I don't believe that means the bank is "in charge" at Rangers but it does mean the bank feels Rangers is failing to manage its debt properly, and is almost certainly imposing parameters that are causing the changes we now see. I've heard (I believe reliably) of very acrimonious meetings where Murray has been forced to accept the bank's demands for debt reduction. I believe this is true and that, to this extent, the blowhard's wings have been severely clipped.

Assuming that this is indeed the case, it's about time that SDM fixed it by selling some assets to pay off the debt. The end result would only be that the club would have a significantly higher value & be more attractive to potential buyers. I'm very wary about who the club could or would be sold to though, as I think under SDM there's 100% chance of survival. As soon as the chance of the club's survival drops below 100%, we're in dark, murky waters.

Edited August 23, 2009 by Zappa

[Bluedell 5,356]

As is the case at many underperforming and deeply indebted businesses, I believe the bank is indeed insisting (as is its right) on much less profligate financial performance at Rangers, which in turn is forcing the Rangers board to implement appropriate strategies to deliver that performance.

 

I don't believe that means the bank is "in charge" at Rangers but it does mean the bank feels Rangers is failing to manage its debt properly, and is almost certainly imposing parameters that are causing the changes we now see. I've heard (I believe reliably) of very acrimonious meetings where Murray has been forced to accept the bank's demands for debt reduction. I believe this is true and that, to this extent, the blowhard's wings have been severely clipped.

 

That's pretty much in line with my own thoughts.

[ian1964 10,448]

Where/when is this all going to go away????,things are just getting worse,depressing !!!

[maineflyer 0]

Where/when is this all going to go away????,things are just getting worse,depressing !!!

 

It will go away when the club is managed more effectively. Irrespective of the economic backcloth (against which every other company has to operate as well), Rangers has not been managed from the boardroom with passion, imagination or guile.

 

I long for the day when I turn on the radio and they're saying that Rangers has a new man/team at the helm. But, like every other supporter, I can't make it happen and I can't influence when or to whom. I can't dictate that the new man will be better or worse, or that we'll be relieved or disappointed. All anyone can do is express a heartfelt dissatisfaction with the current regime and hope they have even some interest in seeing the club move on from here.

 

However, as I've said before, I haven't yet seen a single tangible sign that Murray wants to sell. I've read lots of comment to that effect but never once seen or heard any suggestion that he has ever moved in that direction. Of course, in saying that I'm discounting the weasel squeals of Murray himself, a man whose words I wouldn't believe if he told me night follows day.

[ian1964 10,448]

It will go away when the club is managed more effectively. Irrespective of the economic backcloth (against which every other company has to operate as well), Rangers has not been managed from the boardroom with passion, imagination or guile.

 

I long for the day when I turn on the radio and they're saying that Rangers has a new man/team at the helm. But, like every other supporter, I can't make it happen and I can't influence when or to whom. I can't dictate that the new man will be better or worse, or that we'll be relieved or disappointed. All anyone can do is express a heartfelt dissatisfaction with the current regime and hope they have even some interest in seeing the club move on from here.

 

However, as I've said before, I haven't yet seen a single tangible sign that Murray wants to sell. I've read lots of comment to that effect but never once seen or heard any suggestion that he has ever moved in that direction. Of course, in saying that I'm discounting the weasel squeals of Murray himself, a man whose words I wouldn't believe if he told me night follows day.

 

I wish something would happen,either Murray gets his finger out take more interest and try to get the club out of the shit that he has put us in,or GTF and let someone else revive us..................I know it's all been said before but it is feckin depressing as I say,better the devil you know or risk new ownership ???.