ian1964 10,410 Posted October 14, 2014 Share Posted October 14, 2014 Sportsmail @ScotMailSport · 2 minutes ago Dave king is at Ibrox to discuss multi million deal with Rangers 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 14, 2014 Share Posted October 14, 2014 Fingers crossed that King is successful with whatever is going on here. If it's a £16m loan to be converted to a controlling shareholding, then it's a great move on King's part. No doubt considerably more than he'd like to have paid though, but desperate situations often require desperate measures. as long as the money is going into rangers it doesn't matter how much he pays. the next step would no doubt be a share issue to raise more fully subscribed to by kingco making us more cash and probably increasing their percentage. 0 Quote Link to post Share on other sites More sharing options...
Blue Moon 1,113 Posted October 14, 2014 Share Posted October 14, 2014 Please, please make this succeed. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted October 14, 2014 Share Posted October 14, 2014 a loan far more likely. Cheers, bit of a let down then. Pointless loaning this mob anything. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted October 14, 2014 Share Posted October 14, 2014 Fingers crossed that King is successful with whatever is going on here. If it's a £16m loan to be converted to a controlling shareholding, then it's a great move on King's part. No doubt considerably more than he'd like to have paid though, but desperate situations often require desperate measures. It is actually potentially a win-win for King - as long as the loan isn't pilfered then his money actually goes into the club to help see it through a difficult time. If the loan can then be converted to shares then his money managed to keep the club afloat but also managed to get him his shareholding he wanted. None of the money going to Greenco, unless pilfered. Not a bad solution, though I suspect there will be more twists and turns yet.... 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted October 14, 2014 Share Posted October 14, 2014 It is actually potentially a win-win for King - as long as the loan isn't pilfered then his money actually goes into the club to help see it through a difficult time. If the loan can then be converted to shares then his money managed to keep the club afloat but also managed to get him his shareholding he wanted. None of the money going to Greenco, unless pilfered. Not a bad solution, though I suspect there will be more twists and turns yet.... "Aye, there's the rub" as that other Prince of Denmark remarked. How can King possibly trust that there will not be/ensure it does not happen? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 14, 2014 Share Posted October 14, 2014 Cheers, bit of a let down then. Pointless loaning this mob anything. not at all it's very clever. a loan only needs board approval and you make it convertible to shares. king can seize control of rangers if he can convince any 3 board members that he is whats best for rangers. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 14, 2014 Share Posted October 14, 2014 It is actually potentially a win-win for King - as long as the loan isn't pilfered then his money actually goes into the club to help see it through a difficult time. If the loan can then be converted to shares then his money managed to keep the club afloat but also managed to get him his shareholding he wanted. None of the money going to Greenco, unless pilfered. Not a bad solution, though I suspect there will be more twists and turns yet.... hard to see greenco allowing this. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted October 14, 2014 Share Posted October 14, 2014 hard to see greenco allowing this. Of course they wont. One has to suspect any convertible loan would need Board and shareholder approval upon expected conversion - if the loan is repaid then King gets nothing but his loan back. If the Club cant repay the loan (which they wont be able to... unless Ashley stumps up) then when it comes to conversion all current shareholders would see their shareholding diluted (unless the loan is a different class of share) so there would more than likely be resistance to it. As I said, lots of twists and turns ahead. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 14, 2014 Share Posted October 14, 2014 not at all it's very clever. a loan only needs board approval and you make it convertible to shares. king can seize control of rangers if he can convince any 3 board members that he is whats best for rangers. Despite repeated requests, you have still to explain how these shares are going to be delivered by a board with absolutely no power. You are like the other side of Rab's coin with this. 0 Quote Link to post Share on other sites More sharing options...
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