the gunslinger 3,366 Posted November 18, 2014 Share Posted November 18, 2014 you say arse from elbow but .. I am not supporting the current mob in any way but I also question kings deals. do you know what he demanded in return for his investment or loan or whatever? please enlighten me then you can call me a fool ...he is not transparent either so that's why I am calling him out on that issue. 51 percent of the company. Equal numbers on the board and to appoint the chairman. So essentially control of the board. 0 Quote Link to post Share on other sites More sharing options...
MeAndMyWeePalJoe 12 Posted November 18, 2014 Share Posted November 18, 2014 Strange timing to go after King after what was an extremely eventful weekend. I'd also question Somers' intentions when it's likely most people will refuse to be fooled by Somers and the PR machine. That's what I was thinking. What exactly was the purpose of Somers statement at this time? Did the arrests somehow up the ante in some way causing the incumbents to seek to hasten their exit and now they are attempting to smoke Kings consortium out to get a deal done? Was it an attempted charm offensive to entice fans into MA's corner? in which case they should have used someone with charm to deliver the message. Do they simply think they can simply discredit King and fans will return to Ibrox in droves? Or is this just a load of macho bollocks between the MA gang and the King gang? A sort of don't mess with the messer cause the messer's gonna mess with you scenario. Like most my head is melted with all this crap... 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted November 18, 2014 Share Posted November 18, 2014 So is sommers saying Ashley gets nothing for his loans. 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted November 18, 2014 Share Posted November 18, 2014 Does disingenuous mean 'lying bastard'? 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted November 18, 2014 Share Posted November 18, 2014 That's what I was thinking. What exactly was the purpose of Somers statement at this time? Did the arrests somehow up the ante in some way causing the incumbents to seek to hasten their exit and now they are attempting to smoke Kings consortium out to get a deal done? Was it an attempted charm offensive to entice fans into MA's corner? in which case they should have used someone with charm to deliver the message. Do they simply think they can simply discredit King and fans will return to Ibrox in droves? Or is this just a load of macho bollocks between the MA gang and the King gang? A sort of don't mess with the messer cause the messer's gonna mess with you scenario. Like most my head is melted with all this crap... Most likely explanation. Maybe throw in the board actually enjoy being the villains and sought to re-route the bad press their way. 0 Quote Link to post Share on other sites More sharing options...
trublusince1982 243 Posted November 18, 2014 Share Posted November 18, 2014 would imagine it was the fans sending questions to the aim 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted November 18, 2014 Share Posted November 18, 2014 By Richard Wilson BBC Scotland Dave King has urged Rangers fans to stop supporting the club financially. http://www.bbc.co.uk/sport/0/football/30106866 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,409 Posted November 18, 2014 Share Posted November 18, 2014 Dave King has urged Rangers fans to stop supporting the club financially. The former Ibrox director was responding to claims by Rangers chairman David Somers that King's consortium had not provided proof of funds for their investment offer. The board subsequently accepted a £2m loan from Mike Ashley, having rejected another proposal from Brian Kennedy. King has called on Rangers fans to act, saying: "The future of the club depends on every fan now taking a stand." Somers had claimed that King's consortium failed to provide proof of funding for their £16m investment proposal, or the identities of all of those providing the funds. A spokesman for the consortium described Somers' remarks as "disingenuous", adding that the group had given private assurances that all the relevant information would be provided upon acceptance of the investment proposal. "Somers' comments are, to his knowledge, not honest," King said. "Unfortunately, his utterances are what we have come to expect of recent appointments to the Rangers board. Fortunately the fans will not be fooled by such platitudes. "I truly hope that those fans that continue to blindly support the club (for the right reasons) finally realise that 140 years of the club's history will be irretrievably lost unless they withhold their financial support for the current regime at matchdays and the retail outlets." The King consortium's offer was based upon the group receiving an equity stake in Rangers International Football Club plc and control of the board. To release new shares, 75% of current shareholders would need to agree on the deal, and Sandy Easdale, the football board chairman, owns 5.2% and holds the proxies for a further 20.94%, effectively allowing him to block the deal. A spokesman for the consortium said: "We had private discussions with Graham Wallace [the former Rangers chief executive] and Sandy Easdale in which we told them that we would immediately provide proof of funding and details of the full make-up of the consortium following confirmation from Sandy Easdale that the shareholders whom he represents were prepared to support the terms of our investment proposal in principle. "Sandy Easdale agreed to proceed on this basis. Unfortunately he was not then able to provide the confirmation we asked for. There was no possibility of proceeding any further without the support of Sandy Easdale's group who had the power to block our proposed investment." The board of RIFC were then faced with two loan offers, from Ashley and Kennedy, both of which would provide a short-term fix ahead of future fundraising. During lengthy discussions, and after finance director Philip Nash resigned, the board accepted Ashley's offer. The owner of Newcastle United has since made another £1m available, with further funding required before the end of the year. "Where [the King offer] fell down was really at stage one," Somers said. "When I said to all three of these people 'would you show me proof of funds?' two showed me proof of funds. The consortium did not. "The second question for the consortium was 'I know there are eight of you, I only know three of you. Can I please have the other five names?' And the message I was getting all the time was 'if you agree to do a deal, if you persuade 75% of shareholders, then we'll show you funds and you can have the other names'. "It wasn't meeting the due diligence requirements. I cannot go to shareholders when I don't know all the names, I can't check the names out and I can't put my hand on my heart and say 'these guys have the money'. "In the end we had to move on to stage two which left two providers. Then it was a simple case of which provider was offering the lowest interest rate - Mike Ashley was offering zero interest which is difficult to beat - and which provider wanted least security - again Mike Ashley only wanted a small amount relative to the other deal. Once we got to that stage it was a no-brainer which one we were going with." 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted November 19, 2014 Share Posted November 19, 2014 Strange timing to go after King after what was an extremely eventful weekend. I'd also question Somers' intentions when it's likely most people will refuse to be fooled by Somers and the PR machine. You'd almost think he was trying to deflect attention from the arrests and the news that Green's takeover is being investigated - surely not? 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted November 19, 2014 Share Posted November 19, 2014 You'd almost think he was trying to deflect attention from the arrests and the news that Green's takeover is being investigated - surely not? If it is deflection then they're not very good at hiding. None of it adds up mate. They had a free get out jail card with all the arrests but preferred to bring the heat on themselves. 0 Quote Link to post Share on other sites More sharing options...
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