the gunslinger 3,366 Posted April 21, 2014 Share Posted April 21, 2014 ‘My view of what it will take to make Rangers competitive again is bottom end £30m but probably £50m — over the next four years,’ King told Sportsmail. ‘From the discussions I have to date I think there are other people who would come with me. ‘But I would say I would probably have to put in £30m of the £50m over the period of time. And I could probably get other people to put in £20m. ‘Would I be willing to invest £30m despite what happened previously? Of course. Sure.’ Read more: http://www.dailymail.co.uk/sport/football/article-2588429/Dave-King-commit-30m-ensure-Rangers-return-Scottish-Premiership.html#ixzz2zXWJxB4J Follow us: @MailOnline on Twitter | DailyMail on Facebook probably have to put in 30 million. no change of tune at all. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 21, 2014 Share Posted April 21, 2014 BH are you in favour of a club membership scheme ? Thanks for asking. I am in favour of a PROPER membership scheme and indeed co-authored an article on here with Arnold Black last August' date=' on that subject and I have often written in support. By PROPER I mean one that leads to elections for a Supporters' Board at least one of whose members is then elected to sit on the Football Club Board, and confers other significant benefits e.g. in terms of priority and discount tickets, away travel etc and not just cosmetic things like 10% off in the shop, a lapel badge and a newsletter or signing sessions. [i'] In order to get a scheme off to the best possible start we are of the opinion that all season ticket holders (next season) should be automatically enrolled as club members.* This would guarantee more or less 35,000 club members with little or no effort on the part of the club. Arnold’s thought is that there should be no membership fee for those enrolling this way at least in the first season; my own feeling is that at least a nominal amount (to be deducted from season ticket monies) or an additional £10 fee (to be added to the season ticket price) should apply; otherwise everyone would have to be granted free membership. Whilst free membership is sometimes attractive (as with the FC United of Manchester model) it artificially inflates the true membership numbers. *In future you might have to be a member to buy a season ticket. The proposal would be that the members would elect a Supporters Board (as in the Hamburg model) and that that Board would elect one or two members to the Club Board.[/i] Perhaps someone at Ibrox read it? 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 21, 2014 Share Posted April 21, 2014 At 30 million investment he would be. Right now that would buy you the whole company comfortably. If a share issue was at 25p it would give him 50 odd percent holding. I doubt anyone could buy out the existing investors for £30 million right now and anyway that's one thing he's consistently said he doesn't want to do. If it comes to a rights issue at say 25p (and BTW I think you are correct about that) I expect most of the institutions to take up their rights in order to average down their price, so if Mr King is offered the chance to underwrite the issue at all, then probably all he'll be able to get is the shares allocated to small shareholders who don't fancy the chance of getting burned again, even at 25p. I doubt he'll end up with more than 10% that way and I equally doubt if that would satisfy him though it may solve the other issue. He might hand the RST the £130,000 or so they'd need to take up their rights and perhaps gift the same to the RF scheme (or say anything up to about £1 million each) or possibly properly constitute the UoF and give them money to buy in, who knows; he's a clever man that's for sure. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 21, 2014 Share Posted April 21, 2014 I doubt anyone could buy out the existing investors for £30 million right now and anyway that's one thing he's consistently said he doesn't want to do. If it comes to a rights issue at say 25p (and BTW I think you are correct about that) I expect most of the institutions to take up their rights in order to average down their price, so if Mr King is offered the chance to underwrite the issue at all, then probably all he'll be able to get is the shares allocated to small shareholders who don't fancy the chance of getting burned again, even at 25p. I doubt he'll end up with more than 10% that way and I equally doubt if that would satisfy him though it may solve the other issue. He might hand the RST the £130,000 or so they'd need to take up their rights and perhaps gift the same to the RF scheme (or say anything up to about £1 million each) or possibly properly constitute the UoF and give them money to buy in, who knows; he's a clever man that's for sure. will they though. none of the original investors bought at the ipo so far as we can tell from the notified shareholding and after the debacle that was the ipo will anyone trust this lot again. did you see anything in the ipo prospectus about millions being returned to original investors cause i sure didn't. i understand your reasoning but i would expect at best a 50% uptake. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 21, 2014 Share Posted April 21, 2014 will they though. none of the original investors bought at the ipo so far as we can tell from the notified shareholding and after the debacle that was the ipo will anyone trust this lot again. did you see anything in the ipo prospectus about millions being returned to original investors cause i sure didn't. i understand your reasoning but i would expect at best a 50% uptake. I'm talking about the institutions. Anyway, I think all be revealed pretty soon. And I expect Wallace to pull at least one rabbit out of the hat, and for the avoidance of doubt I have no inside info, just a hunch. The plan has to square the all the circles at least over 5 years, so I also expect a lot of assumptions about income and expenditure in various scenarios. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 21, 2014 Share Posted April 21, 2014 (edited) I'm talking about the institutions. Anyway, I think all be revealed pretty soon. And I expect Wallace to pull at least one rabbit out of the hat, and for the avoidance of doubt I have no inside info, just a hunch. The plan has to square the all the circles at least over 5 years, so I also expect a lot of assumptions about income and expenditure in various scenarios. i agree on the institutions but my point was there is a huge whack that aren't institutions. there is a huge whack that never paid 70p for that matter. i would also point out that the ipo was under subscribed. Edited April 21, 2014 by the gunslinger 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 21, 2014 Share Posted April 21, 2014 probably have to put in 30 million. no change of tune at all. http://www.gersnetonline.co.uk/vb/showthread.php?63221-New-Dave-King-statement&highlight=king+statement In particular the following: as part of my frank discussions with the fan groups, advised them that I had no prime ambition to invest further in the club but will do so if no other investors come forward. Looks like a sizeable change of direction to me.... 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 21, 2014 Share Posted April 21, 2014 http://www.gersnetonline.co.uk/vb/showthread.php?63221-New-Dave-King-statement&highlight=king+statement In particular the following: Looks like a sizeable change of direction to me.... Not quite a u-turn perhaps but at least a right-angeled turn and a long way from his original position. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,254 Posted April 21, 2014 Share Posted April 21, 2014 http://www.gersnetonline.co.uk/vb/showthread.php?63221-New-Dave-King-statement&highlight=king+statement In particular the following: Looks like a sizeable change of direction to me.... First McColl now DK. Ultimately what are they trying to do other than gain control of a football club they don't own? 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted April 21, 2014 Share Posted April 21, 2014 First McColl now DK. Ultimately what are they trying to do other than gain control of a football club they don't own? It worked for the Easdales. 0 Quote Link to post Share on other sites More sharing options...
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