craig 5,195 Posted January 6, 2015 Share Posted January 6, 2015 I'm certainly no expert, but that doesn't seem like a lot for a bank. It may not be a sizable bank but the one thing you CAN be sure of is that his bank will be heavily regulated which means he understands the need for transparency and corporate governance, two things that have been painfully missing at Rangers in the last few years. 0 Quote Link to post Share on other sites More sharing options...
JTP 0 Posted January 6, 2015 Share Posted January 6, 2015 Keiron Prior has bought them, not King, is that good or bad? He hasn't, he has only declared what he owns. The SOS have picked it up wrong. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted January 6, 2015 Share Posted January 6, 2015 He may well be the real deal, but his statement today did little to convince me that his 'bid' was serious, or indeed genuine. From the information that I have read on him, he appears to be a basketball nut who loves his home state and his family. Time will tell. An opening bid rarely is accepted. Likewise, an opening bid which IS accepted only goes to prove the bid was too high. One party negotiates upwards, the other downwards - that is the nature of the beast. The less he can pay for the Club the more funding that is "free" to go directly into the Club rather than shareholders pockets. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted January 6, 2015 Share Posted January 6, 2015 An opening bid rarely is accepted. Likewise, an opening bid which IS accepted only goes to prove the bid was too high. One party negotiates upwards, the other downwards - that is the nature of the beast. The less he can pay for the Club the more funding that is "free" to go directly into the Club rather than shareholders pockets. his offer was for 18 million into the club then an 18p per share offer to the shareholders. very little would have gone elsewhere. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted January 6, 2015 Share Posted January 6, 2015 I'm by no means an expert, but surely there must be some legal recourse against this sort of thing? Surely this would count as the directors not working in the interest of the company? Like i said not an expert but i can't imagine its legal for a large shareholder to shoe horn in your own management team, sign the company up to all sorts of contracts in favour of his separate company then bugger off. The Officers of the Company have a fiduciary duty to act in the company's best interests - it is part of the Companies Act. If they enter onerous contracts or sell away Club assets for a pittance, especially knowing that an offer for the purchase of the Club is there, with proof of funding, then they would most certainly be running the risk of being sued by shareholders for acting in breach of the Companies Act and outwith their fiduciary duty. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 6, 2015 Share Posted January 6, 2015 An opening bid rarely is accepted. Likewise, an opening bid which IS accepted only goes to prove the bid was too high. One party negotiates upwards, the other downwards - that is the nature of the beast. The less he can pay for the Club the more funding that is "free" to go directly into the Club rather than shareholders pockets. Did you mean to quote my post? 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted January 6, 2015 Share Posted January 6, 2015 his offer was for 18 million into the club then an 18p per share offer to the shareholders. very little would have gone elsewhere. Didn't read that, only read the 18p part. What are the Club shares currently trading at ? If he offers current price PLUS additional investment directly into the Club then it pushes buttons for the current shareholders - would definitely apply pressure to the Board to consider the offer rather than further additional loan funding. BTW, ESPN in the US is neutral in anything Old Firm (other than Tommy Smyth who is a fool, and Burley, though he is fairly balanced) and the report last night said that this guy really is a sports fanatic and he has a very good reputation in the US. I know we hang our hats too early on stuff - but I like the vibe I got about this guy (the Phoenix Suns are a more than decent NBA franchise and he seems to be fairly well liked down there too). Him plus the 3 Bears plus King would be a positive step for me as it would spread the financial requirement to get us back to where we need to be. We need VAST investment and if spread among 3 wealthy groups, all of which want to simply return us to the top, then that would bode well. I am sure there would be disagreements along the way.... but many a corporate entity have had split shareholdings and thrived. No reason we couldn't either. We would have two "fan groups" in the 3 bears and King and then we would have a guy who is used to regulation, governance and transparency. I think that the sum of those parts could all work out well for us. Yup, I'm far too much in optimist mode. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted January 6, 2015 Share Posted January 6, 2015 Did you mean to quote my post? Yes, as I assumed that you believed the 18p offer was too low to be considered serious. Was offering a counter to that theory. 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted January 6, 2015 Share Posted January 6, 2015 Didn't read that, only read the 18p part. What are the Club shares currently trading at ? If he offers current price PLUS additional investment directly into the Club then it pushes buttons for the current shareholders - would definitely apply pressure to the Board to consider the offer rather than further additional loan funding. BTW, ESPN in the US is neutral in anything Old Firm (other than Tommy Smyth who is a fool, and Burley, though he is fairly balanced) and the report last night said that this guy really is a sports fanatic and he has a very good reputation in the US. I know we hang our hats too early on stuff - but I like the vibe I got about this guy (the Phoenix Suns are a more than decent NBA franchise and he seems to be fairly well liked down there too). Him plus the 3 Bears plus King would be a positive step for me as it would spread the financial requirement to get us back to where we need to be. We need VAST investment and if spread among 3 wealthy groups, all of which want to simply return us to the top, then that would bode well. I am sure there would be disagreements along the way.... but many a corporate entity have had split shareholdings and thrived. No reason we couldn't either. We would have two "fan groups" in the 3 bears and King and then we would have a guy who is used to regulation, governance and transparency. I think that the sum of those parts could all work out well for us. Yup, I'm far too much in optimist mode. We're Rangers supporters, we don't do optimistic! 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted January 6, 2015 Share Posted January 6, 2015 Didn't read that, only read the 18p part. What are the Club shares currently trading at ? If he offers current price PLUS additional investment directly into the Club then it pushes buttons for the current shareholders - would definitely apply pressure to the Board to consider the offer rather than further additional loan funding. BTW, ESPN in the US is neutral in anything Old Firm (other than Tommy Smyth who is a fool, and Burley, though he is fairly balanced) and the report last night said that this guy really is a sports fanatic and he has a very good reputation in the US. I know we hang our hats too early on stuff - but I like the vibe I got about this guy (the Phoenix Suns are a more than decent NBA franchise and he seems to be fairly well liked down there too). Him plus the 3 Bears plus King would be a positive step for me as it would spread the financial requirement to get us back to where we need to be. We need VAST investment and if spread among 3 wealthy groups, all of which want to simply return us to the top, then that would bode well. I am sure there would be disagreements along the way.... but many a corporate entity have had split shareholdings and thrived. No reason we couldn't either. We would have two "fan groups" in the 3 bears and King and then we would have a guy who is used to regulation, governance and transparency. I think that the sum of those parts could all work out well for us. Yup, I'm far too much in optimist mode. was 18p when he made the offer now it's about 27p 0 Quote Link to post Share on other sites More sharing options...
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