Darthter 542 Posted February 10, 2012 Share Posted February 10, 2012 No I am the 1st to admit that I have a very poor understanding of financial matters....so these are my thoughts on the Ticketus deal & takeover funding.... CW has stated that the £20m from Ticketus was secured against one of his companies, rather than RFC. If the deal was concluded before the takeover (according to P Murray's info), then this would make sense. Why would ticketus handover £20m to someone, secured on something that they don't own? My thoughts are that CW secured the "loan" against his company - as an agreement independent of RFC, but then plans to use the season ticket monies for the actual repayment of the loan. In effect, he has ring-fenced the season ticket money himself to cover the load repayments. It could be possible that the original loan could then have been transferred to RFC after the takeover was completed. Alternatively, the original loan could stay with CW's company, which would then increase his position as Secured Creditor in the event of administration. just some thoughts that are probably wrong.... 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,186 Posted February 10, 2012 Share Posted February 10, 2012 As valid an explanation as anything else mate. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted February 10, 2012 Share Posted February 10, 2012 If the deal was concluded before the takeover (according to P Murray's info), then this would make sense. Why would ticketus handover £20m to someone, secured on something that they don't own? Ticketus paid the cash into an account of Whyte's lawyers. This suggests to me that it was a holding account that Whyte did not have access to until the deal was done, which again is quite normal. However it is possible that it was secured on Group, whose assets are secured on Rangers, and the cash didn't get passed until the takeover was being completed at which point it was secured on something he owns. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,290 Posted February 10, 2012 Share Posted February 10, 2012 Wasn't it said that the Ticketus deal was done over a certain number of years ... and that payments will be made accordingly, rather than one lumps sum? 0 Quote Link to post Share on other sites More sharing options...
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