From Today's Herald

[andy steel 0]

At the risk of defending a journo, I woud aver that we have an example of poor editing rather than poor writing.

[Frankie 8,151]

The article has been extended...

 

http://www.heraldscotland.com/business/analysis/rangers-face-football-s-new-reality-1.1020983

[Bluedell 5,342]

Now back from holiday.

 

Bluedell's opinion is quite clear on the matter. http://www.gersnetonline.co.uk/vb/showpost.php?p=187053&postcount=45

 

http://www.gersnetonline.co.uk/vb/showpost.php?p=187050&postcount=43

 

ETA,,, the figures are from MIH accounts of 2004, nothing has been hidden from anyone. Murray Sports have no recent accounts, it is believed they were liquidated and the debt absorbed by the parent company MIH.

 

Loan notes 52,958 52,958 - -

Other debtors 224 289 - -

Prepayments and accrued income - 10 - -

Deferred tax asset (note 16) ââ?¬â??ââ?¬â??1ââ?¬â??,ââ?¬â??4ââ?¬â??4ââ?¬â??3ââ?¬â?? ââ?¬â??ââ?¬â??ââ?¬â??1ââ?¬â??,9ââ?¬â??4ââ?¬â??5ââ?¬â?? ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??- ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??-

ââ?¬â??5ââ?¬â??4ââ?¬â??,ââ?¬â??6ââ?¬â??2ââ?¬â??5ââ?¬â?? ââ?¬â??ââ?¬â??5ââ?¬â??5ââ?¬â??,2ââ?¬â??0ââ?¬â??2ââ?¬â?? ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??- ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??-

1ââ?¬â??2ââ?¬â??9ââ?¬â??,ââ?¬â??9ââ?¬â??7ââ?¬â??3ââ?¬â?? ââ?¬â??1ââ?¬â??1ââ?¬â??6ââ?¬â??,5ââ?¬â??6ââ?¬â??0ââ?¬â?? ââ?¬â??ââ?¬â??1ââ?¬â??0ââ?¬â??,ââ?¬â??1ââ?¬â??5ââ?¬â??4ââ?¬â?? ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??ââ?¬â??8ââ?¬â??4ââ?¬â??7ââ?¬â??

The loan notes were issued by Murray Sports Limited, a related party by virtue of common control. The loan notes are due for payment in the

event of a sale of all or substantially all of the shares, assets or businesses of RFC Investment Holdings Limited and/or subsidiaries. Interest

is payable at commercial rates, only in the event that Murray Sports Limited has sufficient accumulated distributable profits. In the year to 31

January 2003 a provision against the loan notes of �£7,645,000 was made.

 

Not sure why you are quoting MIH 2004 accounts when the 2008 acccounts are available.

 

It is also not true to say that Murray Sports have no recent accounts when their accounts are available for every year. They have not been liquidated and MIH are not their parent.

[Bluedell 5,342]

http://www.heraldscotland.com/murray-faces-108m-hit-if-rangers-buyer-refuses-to-take-on-club-s-debt-1.1020769

 

 

Sir David Murray stands to take a hit of Ã?£108 million if he sells his 92% stake in Rangers FC to a buyer willing only to take on the club’s estimated Ã?£30m debt.

 

Latest accounts for Murray Sports, the vehicle used by the former Rangers chairman for his football holding, show the accumulated interest on loan notes payable to Murray Group Holdings in the event of a takeover of Rangers has risen from �£44m to almost �£48m, on top of the �£60.6m loan.

 

Meanwhile, another Ã?£4.5m has been added to the write-off in the value of Murray Sports’ holding in Rangers.

 

Already standing at �£41.2m, it rose last year to �£45.7m, because the Rangers share price fell from 52p to 40p during the year.

 

Rangers shares, traded among some 9,000 fans and quoted on the PLUS market, were at 42.5p yesterday, giving Rangers a market value of �£46m.

 

Back in 1997, when billionaire Joe Lewis bought into the club, it was valued at �£160m with Murray at that time plotting a flotation. Lewis sold back to Murray in 2004.

 

In February, the football club reported a half-year profit of Ã?£13m but did not reveal the size of its debt to Lloyds Banking Group, which has been linked with the installation of director Donald Muir on to the club’s board.

 

In early March, London property developer Andrew Ellis said he was considering making an offer for the club.

 

But a fortnight ago engineering tycoon Jim McColl disappointed fans by ruling out financial backing for an alternative supporter-based buy-out of Rangers.

 

Florida-based developer Graham Duffy, whose offer to back a supporter buy-out was revealed by The Herald last December, said this week: “As far as I am aware I am the only individual who has produced a business plan in favour of the supporters.”

 

 

 

Dont know if this is actually relevant or just a rehash of old news , clever bears please comment

 

 

 

Nothing of any relevance. I haven't seen the latest set of Murray Sports accounts but this article suggests that there is nothing new in them and it has no impact on the club.

 

We still don't know if Ellis is trying to buy the shares owned by Murray Sports but any cash realised from the sale would end with MIH anyway given the loan in place.

[wabashcannonball 0]

Murray Sports carried out one transaction, and one only. The accounts must be interesting, if anyone ever finds them.

[Bluedell 5,342]

Murray Sports carried out one transaction, and one only. The accounts must be interesting, if anyone ever finds them.

 

 

I see someone's been reading reading Robert_Curtis on FF. It's not strictly true to say that they only contain one transaction, as its cash balance can change from year to year and it processes any expenses it has during the year, but there's certanly not much ofnote that goes through them.

 

I see thebanker's contributions have mysteriously disappeared from the thread on FF.

 

Oh, and the accounts of MSL are not that difficult to find.

[wabashcannonball 0]

As a vetran of the Hayburn, The "original" Ettrick and the Thornwood, you will understand Bluedell that I would not soil my mouse on FF, the "Rosie" was known as the fruit shop for good reason, I see and note that certain bellringers hold sway in that establishment, but only after Mrs Renfrew sold it to "Wattie", if the bollox that they spout there, that I am told is legendary in the world of bollox, the site you frequent must be wallowing in it. How's your good friend NL doing, any further inside info, maybe your heid buttons up the back Bluedell, us West End punters are a bit to street wise for unnabridged bullshit.....now if you had said Jamie Lee Curtis that would have been a whole different ball game....perhaps you could in the spirit of fraternal brotherhood point me in the direction of these accounts , for a "note" I believe I was informed was a myth by certain parties....PS it wasn't me who made that volcano erupt contrary to that which you may have heard...:devil::devil:

[Bluedell 5,342]

maybe your heid buttons up the back Bluedell,

 

...perhaps you could in the spirit of fraternal brotherhood point me in the direction of these accounts ,

 

Hardly the way to encourage fraternal brotherhood.

[wabashcannonball 0]

Hardly the way to encourage fraternal brotherhood.

 

 

Some of the harmonies I have enjoyed have been anything but harmonious or fraternall, internal politics they're everywhere, and a large libation often loosens tongues....unwisely, one should always be cautious and make ones stay short...

[franker 1]

perhaps you could in the spirit of fraternal brotherhood point me in the direction of these accounts

 

http://wck2.companieshouse.gov.uk/ce450e2de947a55bbddd06747a0f20de/wcframe?name=accessCompanyInfo

 

There you go, just type in Murray Sports, pay your monies and all will be revealed.

 

PS I would advise waiting until 30/4/10 when Murray International Holdings are due to submit their long awaited accounts.