Ahmed makes third bid to have assets frozen

[Rangersitis 0]

Yeah, I'd say that was a typo from him.

 

Re the loan facility, it'll probably be a simple case of the original Laxey facility which was transferred to George Letham being left on the table by Laxey should it be needed, although you do have to wonder how comfortable they'll be about leaving it on the table now.

 

Cheers. Wasn't sure if it was something else. The other question is, what would they want as collateral?

[Zappa 0]

Even if we DO get 4 million from a share subscription 1.5 of that would pay the loan, leaving just 2.5 million

 

Agreed with the rest of your post Craig, but regarding this point, if we're to believe the words of Sandy Easdale in his interview with the Record, then I think only the Letham loan would be likely to be paid back from the share offer cash, so £1m as opposed to 1.5. Our QC in court today also stated that only 'some' of the £1.5m loans would be repaid from the share cash.

[Hildy 0]

The question that hasn't really been answered though is how do we see through the next 1, 2, 3 months.

 

With 1.2 million in the bank, no ST monies forthcoming, poor match day ticket sales, poor hospitality.... that 1.2 million even without an asset freeze would be gone in less than a month - so how would we see out any length of time. Even if we DO get 4 million from a share subscription 1.5 of that would pay the loan, leaving just 2.5 million - our expenses are over 1 million a month so we would be looking at two months tops - and that is AFTER a share issue..... so how would they see out the remainder of the season ?

 

We are still looking at the short term as opposed to the long term. Though, I guess, with the mess that we are, looking anything beyond a week could be pointless with us.

 

What an absolute farce this club has become. And whilst SDM started the downward spiral.... it cannot be forgotten that Green and Co received (sorry purchased, but not with Chuck's money) a debt-free company. They had the opportunity to start afresh (remember, players didn't need to TUPE) with a vastly reduced cost-base, a long-term attitude to moving through the divisions, utilizing youth to fill in the gaps where experienced (read costly) pros weren't needed and, dare I say it, living within our means.... but no, Chuck and his cohorts decided to take the "lets line our own pockets with as much as we can stash in them in as short a timeframe as possible" approach - and left the fans in tears yet again. Appallingly, some still believe in Charles Green and his sidekicks. How that can be is simply beyond me. Worse, there are still plenty among us who not only believe in Chuck but also would lay the blame squarely at the feet of the fans that decided not to entrust this regime with their cash.

 

Omnishambles doesn't even begin to describe our Club. If it wasn't for the fact that Rangers is part of my very being, blood running blue, I would "walk away"...... heart-breaking where we are. I have said it before, we could get a group from this forum to run the Club far better than has been done since White walked into the Club for a quid.

You are still here because of what the club was, and what you hope it will be.

 

If we were to look at what the club is - in isolation - no discerning person would waste a cent of their money and a minute of their time on it.

[Zappa 0]

Cheers. Wasn't sure if it was something else. The other question is, what would they want as collateral?

 

No idea at all. We're getting too far into the realms of speculation, but it's possible that if the Letham loan is paid back it would free up the security on the car park.

[Rangersitis 0]

Agreed with the rest of your post Craig, but regarding this point, if we're to believe the words of Sandy Easdale in his interview with the Record, then I think only the Letham loan would be likely to be paid back from the share offer cash, so £1m as opposed to 1.5. Our QC in court today also stated that only 'some' of the £1.5m loans would be repaid from the share cash.

 

The Sandy money would mostly be offset by the costs of setting the thing up.

[Rangersitis 0]

No idea at all. We're getting too far into the realms of speculation, but it's possible that if the Letham loan is paid back it would free up the security on the car park.

 

It was rhetorical really. They won't be able to keep this up for too much longer.

[barca72 440]

You are still here because of what the club was, and what you hope it will be.

 

If we were to look at what the club is - in isolation - no discerning person would waste a cent of their money and a minute of their time on it.

 

Then why are you still touting the RST share plan?

[der Berliner 3,247]

Agreed with the rest of your post Craig, but regarding this point, if we're to believe the words of Sandy Easdale in his interview with the Record, then I think only the Letham loan would be likely to be paid back from the share offer cash, so £1m as opposed to 1.5. Our QC in court today also stated that only 'some' of the £1.5m loans would be repaid from the share cash.

 

I would assume that Easdale does not want his money back anytime soon (or something to that degree - going by his remarks). Who knows whether Letham will be adamant to see his money (plus interest) back that soon either, given today's developments.

[Zappa 0]

The Sandy money would mostly be offset by the costs of setting the thing up.

 

I had presumed that the costs of setting up the Laxey facility and then transferring it to George Letham had essentially been taken on by Mr Letham when his original offer which included a £75k fee was eventually accepted and transferred to him with just a £45k fee, but I could be completely wrong!

[Zappa 0]

It was rhetorical really. They won't be able to keep this up for too much longer.

 

Aye it's definitely a worrying situation, but we knew that the minute we read the announcement of the £4m share offer.