King offered interest free loan but was snubbed

[the gunslinger 3,366]

Press release coming out today from King, explosive stuff from what I hear.

 

its in the thread

[Bluedell 5,346]

its in the thread

 

I've moved it as it deserves a separate thread.

 

Edit: also moved a few posts relevant to it.

[the gunslinger 3,366]

I've moved it as it deserves a separate thread.

 

thanks i thought about that myself

[Frankie 8,153]

Club deny King's 'Scottish Sun' claims...

 

http://www.rangers.co.uk/news/headlines/item/6414-club-statement

 

THE Scottish Sun has stated that the Board of Rangers International Football Club has been offered an interest free loan by Mr Dave King. I can confirm that this is untrue.

 

I have been in email correspondence with Mr King and suggested that, even though he is not a current shareholder, I would be interested in hearing any proposals he might have. Mr King replied and indicated a willingness to consider participating in any future equity issue that the Club might undertake.

 

This has been the extent of the discussion and I repeat that no offer of an interest free loan has been received from Mr King, or anyone else, apart from Mr Sandy Easdale.

 

David Somers

Chairman

[TheTinMan99 0]

Club deny King's 'Scottish Sun' claims...

 

http://www.rangers.co.uk/news/headlines/item/6414-club-statement

 

lol, nice touch at the end about Easdale. Somebody's telling porkies somewhere.

[forlanssister 3,050]

 

So Wallace has never spoken to him? Would the (or any club (company) / board invite loans from people outside the club/board or by a non-shareholder?

 

That's how Capitalism works otherwise it could not function.

[der Berliner 3,255]

King's investment came in 2000. Are you seriously going to suggest that the team, the stadium and facilities have improved since then - or even that they improved in the short term ? We DID get Auchenhowie, but King's 20 mill was part of a 53 mill injection, so, using simplistic maths, circa 40% of Auchenhowie was paid for by King - the main objectives according to SDM at the time were "to continue to improve performance on the European stage whilst increasing revenue through existing and new media, including the internet". It would be an incredible stretch to suggest we have seen any of that happen to any significant extent. It appeared that King's money was a capital injection and, thus, not intended for short term team improvement.

 

It "appeared", but who knows for certain? I for one keep my point of view that his money was used for the team (transfer fees, wages and whatnot), Auchenhowie and the upkeep of Ibrox. That was what he IMHO intended it to be used.

 

Dave King very clearly said this was a "capital investment" and the very definition of investment is that it is "the use of money with the object of making a profit".

 

Ouch. That would mean that Laxey and Co. are just another incarnation of King, only without the direct Rangers affiliation? Just different variations of capitalists?

Honestly, no sensible businessman these last 40odd years has invested money into a football club and looked for a profit. Oh well, he might have looked, but how many actually got one? Sneaky beasts like McCann, Whyte, or Green perhaps.

 

Dave King lost his money - you can spin it as many ways as you like to suggest otherwise but he lost his money.

 

I look into the trophy cabinet, at Ibrox (which did not fall apart), Auchenhowie, and some fine memories and think differently. (And perhaps I hoped initially that King did not look for any other "return" of his investment as the aforemntioned - like your everyday capitalist ... )

[craig 5,199]

It "appeared", but who knows for certain? I for one keep my point of view that his money was used for the team (transfer fees, wages and whatnot), Auchenhowie and the upkeep of Ibrox. That was what he IMHO intended it to be used.

 

 

 

Ouch. That would mean that Laxey and Co. are just another incarnation of King, only without the direct Rangers affiliation? Just different variations of capitalists?

Honestly, no sensible businessman these last 40odd years has invested money into a football club and looked for a profit. Oh well, he might have looked, but how many actually got one? Sneaky beasts like McCann, Whyte, or Green perhaps.

 

 

 

I look into the trophy cabinet, at Ibrox (which did not fall apart), Auchenhowie, and some fine memories and think differently. (And perhaps I hoped initially that King did not look for any other "return" of his investment as the aforemntioned - like your everyday capitalist ... )

 

1. OK then, lets remove the word "appeared". It WAS a capital injection because the exact words used by King at the time was "capital investment". So, we can either use YOUR point of view about it being used for the team or we can use King's own words. Me ? I will use the words of the man himself, especially as he would have known better than you or I.

 

2. Perhaps in terms of the 2000 investment King made then, yes. However, I dont believe the 2014 incarnation of King has suggested he would be looking for a return, and certainly not a 30% APR on a 6 month loan, or wonga loans either. But if you prefer to continut down the Laxey "fill your pockets as deep as you can as quickly as you can" approach then go right ahead. I will stick with King for now. He at least hasnt been involved in lining everyone's pockets other than the board and its cronies. Laxey are lining its pockets with this deal, there is ZERO risk to them.

[SteveC 150]

apparently King has answered a Q&A twitter interview from none other than Ill Phil

 

Seems bizzare but then we specialise in bizzare

 

 

EDIT - see Deebear below

Edited February 27, 2014 by SteveC

[Deebear 0]

apparently King has answered a Q&A twitter interview form none other than Ill Phil

 

Seems bizzare but then we specialise in bizzare

 

I don't think this is actually true, I think he did respond to a question put to him, or something like that, but it's being spun to make it appear more.