Are Lloyds trying to sell Rangers.. or wind them down?

[Bluedell 5,330]

But surely that is working capital mate or`have I got this all wrong , surely if we make a loss without european football they cannot take the season ticket money , that would surely affect the asking price , aggghh my head hurts with this pish

 

Our debt figure includes our working capital.

 

Last year's net debt figure was as following:

 

Overdraft �£3m

Bank Loan �£19m

Other loans �£1m

Finance leases �£4m

 

Total �£27m

 

The overdraft would have been a lot higher before the season ticket money was received and therefore the debt position would have been a lot worse.

 

Forget about profits and losses. The debt figure just represents what we owe the bank at any point in time (plus some other stuff).

[ascender 352]

I'm confused. Any money owed to LBG whether a loan or overdraft surely has a contract in place and this contract would cover fees such as those liable under early repayment. Are LBG simply holding out for what's owed under the terms of an existing agreement rather than blocking a sale as such?

[Bluedell 5,330]

I'm confused. Any money owed to LBG whether a loan or overdraft surely has a contract in place and this contract would cover fees such as those liable under early repayment. Are LBG simply holding out for what's owed under the terms of an existing agreement rather than blocking a sale as such?

 

That would be my take on it, although it doesn't seem unreasonable for a buyer to come along and expect Lloyds not to require the whole amount given that they are apparently spending so much effort ensuring that the club is able to meet its commitments.

[Koeman 0]

If, as believed, it's Lloyds that are holding this up, we as fans should be taking a leaf out of Cyrstal Palace's books and protesting outside Lloyds offices. This worked for them when having issues with a takeover last summer.

 

http://news.bbc.co.uk/sport1/hi/football/teams/c/crystal_palace/8714650.stm

[calscot 0]

The agreement for the loan is that it's paid back at 1m per year. That would leave it at 18m for this year. For the debt to be 21M the other three items would need to be reduced. Suppose other loan is paid of and leasing is now around �£2M, that would leave a �£1M overdraft.

 

It seems to me then that Rangers should only be under obligation to pay back the overdraft. The only other threat is for Lloyds to call in the long term loan. I can't see how they can threaten to call it in one day and when it is offered to be paid in full to then charge an early repayment fee. It seems to me it has to be one or the other.

 

If the delay has nothing to do with them as they say - then with our debts well in control and our liabilities to the bank almost completely an agreed �£18M loan repayable at �£1M per year over 18 years, should it not mean that when it comes to running our club, that Lloyds should literally mind their own *expletetive* business?

 

That long term debt is in no sense a risk to the future solvency of the club. It seems a bit like forcing people who are paying their mortgage and can comfortably afford the payments to cut back in their every day spending.

 

Something stinks to high heaven, and for me, it seems to be coming from the direction of the bank. Everything about their dealings with the club comes across as incredibly inconsistent and contradictory. If they want to absolve themselves they need to come clean on a number of issues. Or are they really just whipping boys without any gumption to stand up for themselves?

[Frankie 8,151]

Apparently bank are now denying there is any 'exit' clause.

 

Over to MIH and Whyte now.

 

The end is in sight.

[Stefanovitch 0]

Apparently bank are now denying there is any 'exit' clause.

 

Over to MIH and Whyte now.

 

The end is in sight.

 

If this is the case and the bank are not placing obstacles in the way then Mr Whyte has no excuses.

[pete 2,499]

If this is the case and the bank are not placing obstacles in the way then Mr Whyte has no excuses.

 

Unless it is David Murray that is holding things up and holding out for more money.

Someone somewhere is telling porky pies.

[maineflyer 0]

Unless it is David Murray that is holding things up and holding out for more money.

Someone somewhere is telling porky pies.

 

It's hardly a major risk but my money's on Murray.

[maineflyer 0]

It comes to mind that if Lloyds are not blocking the deal then Craig Whyte could be looking for an out. Or not.