SteveC 150 Posted February 10, 2014 Share Posted February 10, 2014 (edited) I don't have the article but suspect you can get all the info you need from this page shown on facebook: Edited February 10, 2014 by SteveC 0 Quote Link to post Share on other sites More sharing options...
Guest Totem Posted February 10, 2014 Share Posted February 10, 2014 Why didn't he just buy us when he could have got everything for about 6m quid? It would have saved all of this drama. I can't understand his train of thought throughout this saga. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted February 10, 2014 Author Share Posted February 10, 2014 (edited) He couldn't buy us out then, he was legally barred from doing so; in any case our future was guaranteed when WHyte got to appoint D&P - only Spiv-pals would be allowed in. Since then he's said he'll only buy shares or invest money that goes to the club. If he buys shares now they go into Spivs pockets - and the people who put their stooges in place, who are probably on a cut/still raking it in from the background... ============================================ Here's the article, courtesy of FF: DAVE KING has revealed he’s had no contact with Rangers despite repeated offers to invest in the crisis-torn club. Tycoon King also warned Gers cash reserves are now at a ‘critical level’ with the Ibrox board in a desperate race to secure funding. Two months after revealing to SunSport he would be prepared to re-invest in Rangers, King confirmed there has been no approach. He said: ‘As a fan I am very concerned about the lack of a transparent funding plan to communicate to the fans prior to requesting them to renew season ticket sales. ‘There is not much time for the board to give assurances in that regard.’ Johannesburg-based King, 52, is still willing to plough his cash into Gers, but admits he can’t force chief executive Graham Wallace to take his money. Without investment, Rangers are expected to run out of cash next month. Asked if he had held talks with Wallace or had plans to meet the Ibrox CEO, King added: ‘No. Mr Wallace has no obligation to approach me. ‘The board may secure funding from other sources.’ It’s King’s understanding Wallace is close to completing a formulated business plan designed to drive Gers forward. But King believes a new share issue is likely. He said: ‘I recognised from my visit last November that the board needed to get the AGM behind them, and then to focus on operational issues and putting a proper funding plan in place. ‘My understanding is this is either complete or nearly complete. ‘Rangers need funding and debt funding cannot be a viable long term option to meet the club’s on-going needs. In my opinion a new round of equity funding remains inevitable.’ King has urged Wallace to make his plans known to the long-suffering Ibrox support as soon as possible. He stressed: ‘If a sensible business and financial plan has been completed then Rangers may have gone forward, but there has been no communication of this at present. ‘Clearly, the passage of time since the AGM has reduced the cash reserves to a critical level.’ It’s understood Wallace and Gers’ finance director Philip Nash have been on several trips to London in a bid to secure potential investors. But after £22 million was wiped from the club’s initial IPO last year, the city remain sceptical. King warned: ‘City investors will not have an appetite unless they are happy with the business plan and the funding plan, as well as the quality of the underlying assets. ‘I would imagine Craig Whyte’s rumblings will also be a factor as city investors don’t like legal risk or contingent liabilities. ‘Personally, I think Whyte has zero chance of advancing his position successfully.’ Edited February 10, 2014 by SteveC 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,409 Posted February 10, 2014 Share Posted February 10, 2014 It's about time the fans groups asked the board why they are turning away cash investment when we are running out of cash? 0 Quote Link to post Share on other sites More sharing options...
Guest Totem Posted February 10, 2014 Share Posted February 10, 2014 It's about time the fans groups asked the board why they are turning away cash investment when we are running out of cash? What cash investment are we turning away? 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,409 Posted February 10, 2014 Share Posted February 10, 2014 What cash investment are we turning away? Potential investment!,how do we know what is on offer if they won't at least speak?. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,239 Posted February 10, 2014 Share Posted February 10, 2014 There he is again, most likely, as per usual, firing a few broadsides only to vanish back into the sunny depths of the RSA. It is again interesting to see people knowing all that there is to know about our cash levels, what Nash and Co. is doing, while continually asking what plans the board has ... as the supporters have a right to know. By a week before yesterday, of course. Well, the media's intention is obvious. King's remarks have partly been taken out of context to suit their agenda - harrassing info from a board that previously shed info on a hourly basis. They must be starving these days, poor sods that they are. I reckon once Wallace 120 days are over and the half-year results are out, King and Co. will get all the answers required. Meanwhile, the club has just secured a potential double cash injection by making the Quarterfinals (and hopefully Semifinals) of the SFA Cup, both surely nigh sell-out affairs at Ibrox (though the respective opponents will get half of that). 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted February 10, 2014 Share Posted February 10, 2014 What right does King have to publicly demand sensitive financial information from the club??? If he is so desperate to invest in RFC, why doesn't he properly formulate a business proposal and approach the board with it, rather than sitting by the pool waiting for RFC to come grovelling to him??? Also, how up to date & accurate is his knowledge of the current financial situation??? Is he basing his current ramblings on information from November (or older)??? 0 Quote Link to post Share on other sites More sharing options...
Waltersgotstyle 297 Posted February 10, 2014 Share Posted February 10, 2014 There he is again, most likely, as per usual, firing a few broadsides only to vanish back into the sunny depths of the RSA. It is again interesting to see people knowing all that there is to know about our cash levels, what Nash and Co. is doing, while continually asking what plans the board has ... as the supporters have a right to know. By a week before yesterday, of course. Well, the media's intention is obvious. King's remarks have partly been taken out of context to suit their agenda - harrassing info from a board that previously shed info on a hourly basis. They must be starving these days, poor sods that they are. I reckon once Wallace 120 days are over and the half-year results are out, King and Co. will get all the answers required. Meanwhile, the club has just secured a potential double cash injection by making the Quarterfinals (and hopefully Semifinals) of the SFA Cup, both surely nigh sell-out affairs at Ibrox (though the respective opponents will get half of that). TV Deals and Attendance you I would think we would be looking at around £1m or so for the next two ties (if we get past Albion) 0 Quote Link to post Share on other sites More sharing options...
Crimson Dynamo 128 Posted February 10, 2014 Share Posted February 10, 2014 same old rubbish from Dave King Buy some shares if you want a say or want to know what's going on at Ibrox 0 Quote Link to post Share on other sites More sharing options...
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