RANGERRAB 3,260 Posted March 8, 2014 Share Posted March 8, 2014 I cant believe the rammy this is causing , what did the fans think was going to repay it , Tesco vouchers , the terms of the loan , the fact we need a loan, 4 weeks after Wallace told us we were fine , thats the bloody disgrace , not how it would be repaid The fact is all businesses borrow. Our chums from the east end have loans and an overdraft over 30million with a basket case bank. My concern is why we're taking this loan(or loans) so soon after the CEO seemed to suggest we didn't need to. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted March 8, 2014 Share Posted March 8, 2014 Exactly. It was obvious that's effectively where the cash would have come from and I fail to see what the big deal is in respect of the source of the repayment. I expected it to be paid from general funds which the statement issued by Rangers implies...... A club spokesman said: ‘The loans, if drawn, will be repaid from the operating cash flow of the business at the relevant time. Operating cash flow comprises many sources including commercial partnership income, retail dividends and match ticket income.’ ......however reading the documents it appears to have a hint of Ticketus about it in that they're laying claim to first dibs on the season ticket monies. A better worded document could have prevented the present furore without reducing any security. A completely unnecessary own goal by the board. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted March 8, 2014 Share Posted March 8, 2014 The ironic thing about this is as forlanssister has already said , we have used ticketus for years as short term funding , only this time they were found out 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted March 8, 2014 Share Posted March 8, 2014 The ironic thing about this is as forlanssister has already said , we have used ticketus for years as short term funding , only this time they were found out Yes, but not in lower leagues with two season ticket income sandwiching a 22 million IPO at a time; instead at a time when chasing top honours and carring huge historical debt 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted March 8, 2014 Share Posted March 8, 2014 Yes, but not in lower leagues with two season ticket income sandwiching a 22 million IPO at a time; instead at a time when chasing top honours and carring huge historical debt But we have never acted like a small club or cut our costs , the fact is we are making the same mistakes and still being lied to , new gang same as the old gang Sent from my iPhone using Tapatalk 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted March 8, 2014 Share Posted March 8, 2014 But we have never acted like a small club or cut our costs , the fact is we are making the same mistakes and still being lied to , new gang same as the old gang Sent from my iPhone using Tapatalk Even worse mistakes, I'd say. They had more chance to avoid having to do this. In fact you can't help fearing that they want to incur the secured loans, that it is all deliberate. 0 Quote Link to post Share on other sites More sharing options...
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