Mountain Bear 0 Posted March 25, 2014 Share Posted March 25, 2014 I agree and wasn't trying to tell you how to suck eggs. But but by stating the obvious the point I was trying to make is banks do indeed like lending money but they also like to get it back so they can lend it to the next person or company. That main stream banks (apparently) don't want to lend to us does indeed tell its own story; though that has to be tempered by the industry that we are in and its history of loss making enterprises. Banks in general have no sector appetite for football clubs these days. Most of them would happily exit their current football relationships if they could, certainly the heavily exposed ones anyway. In the past they'd either view funding clubs as part of the support they gave to local communities, or else as a way of cementing relationships with credible local business people. However, as more money came into the game and levels of debt increased, they were forced to contemplate what to do if things went wrong? In those circumstances they have a choice - call in the debt, potentially shutting down the club and alienating vast swathes of your retail customers in the process, or continue to fund levels of debt which bear no relation to normal banking ratios in the hope that the club unearths a gem of a player that they can sell, or some other sugar daddy steps up and bails them out. While our inability to attract a major banking partner isn't good news by any means, I don't think you should infer it's entirely down to our own specific financial situation. Although the first rule of banking is that you should assess the quality of management involved (which must be in doubt in our case), even the best run and most profitable of Scottish clubs wouldn't find it easy to re bank these days (especially not at an interest rate of base + 150 basis points...). Sent from my iPhone using Tapatalk 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted March 25, 2014 Share Posted March 25, 2014 Our bank . https://www.google.co.uk/maps/place/Metro+Bank/@51.517561,-0.12079,3a,75y,4.91h,90t/data=!3m4!1e1!3m2!1sBoK3zFt9FLC9idfzhIhoHg!2e0!4m2!3m1!1s0x0:0xae4041b1bc569313!6m1!1e1 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted March 25, 2014 Share Posted March 25, 2014 Milton Keynes is the nearest branch. No wonder we went through £22m. The books'll show astronomical travel costs. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 25, 2014 Share Posted March 25, 2014 Our own bank and stuff the others? I would say "why not?", but in truth it was just as you say - food for thought. Maybe it was even just a little utopian dream that Rangers fans could bank their money in a company which was founded specifically to fund Club cash shortfalls as opposed to banker bonuses, but I'm sure there must be too many obstacles/red tape in the way of doing something like this or it would have been done already. 0 Quote Link to post Share on other sites More sharing options...
amms 0 Posted March 25, 2014 Share Posted March 25, 2014 It's an interesting concept a kind of HNW version of RFFF (not that I don't think some HNW fans contributed to that) but on a different level. A RANGERS BANK almost. Who would be the Chair and who would be the CEO? Actually this is very interesting, would Rangers fans in general deposit their money in a Rangers Bank if it paid little or no interest and its sole or main purpose was to lend money to Rangers FC at equally low interest and what about security for any such loan? It wouldn't get a banking licence on that basis and it would be an imprudent policy but nonethless it might be worth exploring. Our own bank and stuff the others? It's a lot better idea IMHO opinion than putting your ST money in a trust and hoping to get security over Ibrox and Murray Park, which isn't going to happen. Food for thought there, Zappa. What Zappa is suggesting is basically a Credit Union, and there is little reason we couldn't create one of them if we felt so inclined. 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted March 25, 2014 Share Posted March 25, 2014 What Zappa is suggesting is basically a Credit Union, and there is little reason we couldn't create one of them if we felt so inclined. When banks lend money, and try to recover bad debt, there's always bad feeling. Although a Rangers bank/credit union sounds like a good idea, there are some unforeseen risks. No doubt the media would love this - and they wouldn't be able to resist their innuendo and disinformation. I guess what I'm trying to say is that in most other countries this would be welcomed, but here I fear it would be even more morsels for a rabid pack. 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted March 25, 2014 Share Posted March 25, 2014 So if a burglar broke into your home and was on his way out with the family silver, but you stopped him, and he put all the stuff back, he would deserve credit? Cup of tea as well. 0 Quote Link to post Share on other sites More sharing options...
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