Rangersitis 0 Posted January 6, 2015 Share Posted January 6, 2015 Yes, as I assumed that you believed the 18p offer was too low to be considered serious. Was offering a counter to that theory. Apologies for the confusion. I am dubious as to whether the bid was even real, so the figures involved are moot at this point. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 6, 2015 Share Posted January 6, 2015 was 18p when he made the offer now it's about 27p Who benefits most from a jump in the share price? 0 Quote Link to post Share on other sites More sharing options...
BEARGER 1,829 Posted January 6, 2015 Share Posted January 6, 2015 Latest from Telegraph. By Roddy Forysth12:54PM GMT 06 Jan 2015 The first significant move in the battle to save Rangers – and for control of the boardroom – was made by the Ibrox board when they rejected a takeover bid from Robert Sarver, owner of the Phoenix Suns basketball club on Tuesday morning. The American’s £18 million offer proposed a fresh share issue in which he would have taken up 100 per cent of the equity but did not meet the board’s valuation of the club, according to Rangers’ statement to the Stock Exchange. However, the board indicated willingness to consider proposals from the investors’ alliance comprised of the Three Bears consortium – wealthy Rangers supporters Douglas Park, George Letham and George Taylor – along with former Ibrox director, Dave King. The Telegraph revealed on Monday that negotiations had begun and the statement confirmed as much, when it said: “The directors are in discussions with Rangers' significant stakeholders with a view to arranging finance for the club. This is likely to comprise loans in the short term and possibly equity in the medium term. “The board has invited Mr Sarver to consider participating in a similar discussion alongside other supportive shareholders.” That said, Mike Ashley has signalled that he will not be jostled aside in the process. Along with his ally at Ibrox – Sandy Easdale, Rangers’ football chairman – he controls around 35 per cent of the club’s shares, although the Three Bears/King axis believe that their side can count on more than 50%. Related Articles Ibrox - Rangers power struggle takes new twist after Mike Ashley loses key ally in his quest for Ibrox boardroom coup Rangers board in crisis talks 05 Jan 2015 Rangers board to lose power unless Ashley steps in 04 Jan 2015 Rangers supporters’ group urges fans to displace Ashley 03 Jan 2015 Ashley's plan to own Rangers hits buffers 02 Jan 2015 The Newcastle United owner, whose Sports Direct retail chain has the rights to Rangers’ merchandise, appointed his long-standing associate, Barry Leach, as the club’s finance director on Monday, in pointed defiance of the disciplinary charge brought by the Scottish Football Association, which alleges that Ashley has exceeded an undertaking to limit his influence at Ibrox. Leach’s appointment is the second by Ashley since the SFA laid its complaint against him. Two days after he received it, Ashley installed Derek Llambias, the former Newcastle managing director, as Rangers’ chief executive. The current crisis arose when Rangers came within days of being placed into administration by HMRC on account of an urgent National Insurance bill and had to be bailed out by a £500,000 loan from Easdale, secured on the fee – said to be £1 million, but more likely £850,000 – received from Brentford for the talented 20-year-old midfielder, Lewis Macleod. The emergency funding provided by Easdale confirmed that the £3 million lent by Ashley in October in return for two board nominations – and secured on club assets – had run out. The cash burn occurred despite the cost-slashing regime of Llambias. That alone indicates that the club – which showed an £8 million loss in its most recent accounts is still leaking funds at an unsustainable rate. However, the board’s Stock Exchange statement said: “The company is managing its cash resources carefully and will require further funding before the end of January.” The apocalyptic scenario is that no deal is struck and that Rangers go under before their scheduled meeting with Celtic – the first Old Firm derby in almost three years – in the semi-finals of the Scottish League Cup. However, there is no chance of that happening, even should the bargaining process be long and arduous, because the Old Firm collision at Hampden is currently the biggest single fixture income supplement Rangers can anticipate, worth around £250,000 from their share of gate receipts and broadcast fees, excluding whatever commercial activity the club can put in place around this much-anticipated event. This morning’s statement also left the door open for a further bid from Sarver, providing he is prepared to increase his offer. “Notwithstanding the current financial difficulties, the proposal does not adequately value a controlling interest in the company,” it read. It was Telegraph Sport who revealed that Sarver – who wants to acquire a portfolio of European football clubs – was pointed in the direction of Ibrox by the former Rangers and Scotland full back, David Robertson, who is the coach of Phoenix FC. Sarver confirmed the disclosure in a statement issued this morning when he said: “Initially, I’d had some of my advisors examining potential investments in teams in the English Premier League and in Spain, but Davie encouraged me to take a close look at Rangers. “Like all Rangers fans, he’s really upset about how far the club has fallen in recent years and the more we spoke, the more interested I became. I’m a genuine sports fanatic and owning two major basketball franchises for the past decade has been an enormous privilege. “I've spent the vast majority of my career in public companies and I'm used to working in very highly regulated environments. I understand the crucial importance of business integrity and transparency. “Rangers fans have every right to be wary about someone showing an interest in the club they love, especially given some of the events of recent years. First and foremost I believe what the club needs today is a very quick, major injection of capital to stabilise things and I can give the Rangers supporters a categorical assurance that I have the resources and ability to get this club back to its elite level. “I’m looking forward to building a consensus amongst supporters and prominent Rangers-minded figures who have the long-term success of the club at heart. I’ve had detailed research carried out on Rangers and I’m convinced that we could take it back to the top of the Scottish game on a stable and sustainable basis.” Robertson added his backing to Sarver when the former full-back – who played 245 times for Rangers over six seasons – said: “I’ve known Robert for several years. He has been very supportive of our local club and has a very good reputation in the US. “When he said he was looking to invest in football in Europe, I told him right away that Rangers could really be doing with someone with his track record. I explained how far the club has fallen, but that there was huge potential to rebuild it. “Even though I’m now based over here, I always watch really closely how things are going at Ibrox and it’s tragic to see how a club which was once a force in Europe has been brought so low. “I can tell every Rangers fan in Scotland and abroad, if Robert Sarver is successful in becoming part of the club, he’ll not rest until they are back on top again.” The Telegraph can also shed light on the matter of the unpaid NI bill which was said to have tipped the club into its latest crisis. Some Rangers supporters have been sceptical of the story of a possible default – especially since the SPFL confirmed that its early warning system had not been triggered – and conjecture that the tale was inflated to present Sandy Easdale as a white knight riding to the rescue. However, there are two issues which should not be confused. If Rangers had not paid their players’ NI, the failure would have constituted an immediate default event. The club would have suffered the imposition of a registration embargo which would have prevented the signing of any players during the January transfer window – not that there is any sign of Rangers being either able or willing to reinforce the playing squad right now. However, had Rangers been late with the employers’ contribution, HMRC are entitled – given the club’s record of default under Craig Whyte – to warn that payment would be required within a strictly enforced time limit. At any event, the Telegraph understands that HMRC has no current concerns about the club’s obligations to the tax authority. Finally, in an ironic twist to the ongoing saga at Ibrox which, on the football side, saw Ally McCoist hand in his notice as manager and then be placed on gardening leave, there is the choice of match featured in Tuesday's ‘On This Day’ slot on Rangers’ club website. The game in question is Rangers’ 2-0 victory over Aberdeen at Ibrox on January 6, 1990. In contrast to their current struggle for promotion from the Scottish Championship, that victory saw Rangers stride towards a fourth successive Scottish title, with Aberdeen as runners-up. Highlights of the match show the decisive second goal scored by – Ally McCoist. Aberdeen, though, were weakened by the loss through injury of their regular left back – a certain David Robertson. 0 Quote Link to post Share on other sites More sharing options...
BEARGER 1,829 Posted January 6, 2015 Share Posted January 6, 2015 Latest from Telegraph. By Roddy Forysth12:54PM GMT 06 Jan 2015 The first significant move in the battle to save Rangers – and for control of the boardroom – was made by the Ibrox board when they rejected a takeover bid from Robert Sarver, owner of the Phoenix Suns basketball club on Tuesday morning. The American’s £18 million offer proposed a fresh share issue in which he would have taken up 100 per cent of the equity but did not meet the board’s valuation of the club, according to Rangers’ statement to the Stock Exchange. However, the board indicated willingness to consider proposals from the investors’ alliance comprised of the Three Bears consortium – wealthy Rangers supporters Douglas Park, George Letham and George Taylor – along with former Ibrox director, Dave King. The Telegraph revealed on Monday that negotiations had begun and the statement confirmed as much, when it said: “The directors are in discussions with Rangers' significant stakeholders with a view to arranging finance for the club. This is likely to comprise loans in the short term and possibly equity in the medium term. “The board has invited Mr Sarver to consider participating in a similar discussion alongside other supportive shareholders.” That said, Mike Ashley has signalled that he will not be jostled aside in the process. Along with his ally at Ibrox – Sandy Easdale, Rangers’ football chairman – he controls around 35 per cent of the club’s shares, although the Three Bears/King axis believe that their side can count on more than 50%. Related Articles Ibrox - Rangers power struggle takes new twist after Mike Ashley loses key ally in his quest for Ibrox boardroom coup Rangers board in crisis talks 05 Jan 2015 Rangers board to lose power unless Ashley steps in 04 Jan 2015 Rangers supporters’ group urges fans to displace Ashley 03 Jan 2015 Ashley's plan to own Rangers hits buffers 02 Jan 2015 The Newcastle United owner, whose Sports Direct retail chain has the rights to Rangers’ merchandise, appointed his long-standing associate, Barry Leach, as the club’s finance director on Monday, in pointed defiance of the disciplinary charge brought by the Scottish Football Association, which alleges that Ashley has exceeded an undertaking to limit his influence at Ibrox. Leach’s appointment is the second by Ashley since the SFA laid its complaint against him. Two days after he received it, Ashley installed Derek Llambias, the former Newcastle managing director, as Rangers’ chief executive. The current crisis arose when Rangers came within days of being placed into administration by HMRC on account of an urgent National Insurance bill and had to be bailed out by a £500,000 loan from Easdale, secured on the fee – said to be £1 million, but more likely £850,000 – received from Brentford for the talented 20-year-old midfielder, Lewis Macleod. The emergency funding provided by Easdale confirmed that the £3 million lent by Ashley in October in return for two board nominations – and secured on club assets – had run out. The cash burn occurred despite the cost-slashing regime of Llambias. That alone indicates that the club – which showed an £8 million loss in its most recent accounts is still leaking funds at an unsustainable rate. However, the board’s Stock Exchange statement said: “The company is managing its cash resources carefully and will require further funding before the end of January.” The apocalyptic scenario is that no deal is struck and that Rangers go under before their scheduled meeting with Celtic – the first Old Firm derby in almost three years – in the semi-finals of the Scottish League Cup. However, there is no chance of that happening, even should the bargaining process be long and arduous, because the Old Firm collision at Hampden is currently the biggest single fixture income supplement Rangers can anticipate, worth around £250,000 from their share of gate receipts and broadcast fees, excluding whatever commercial activity the club can put in place around this much-anticipated event. This morning’s statement also left the door open for a further bid from Sarver, providing he is prepared to increase his offer. “Notwithstanding the current financial difficulties, the proposal does not adequately value a controlling interest in the company,” it read. It was Telegraph Sport who revealed that Sarver – who wants to acquire a portfolio of European football clubs – was pointed in the direction of Ibrox by the former Rangers and Scotland full back, David Robertson, who is the coach of Phoenix FC. Sarver confirmed the disclosure in a statement issued this morning when he said: “Initially, I’d had some of my advisors examining potential investments in teams in the English Premier League and in Spain, but Davie encouraged me to take a close look at Rangers. “Like all Rangers fans, he’s really upset about how far the club has fallen in recent years and the more we spoke, the more interested I became. I’m a genuine sports fanatic and owning two major basketball franchises for the past decade has been an enormous privilege. “I've spent the vast majority of my career in public companies and I'm used to working in very highly regulated environments. I understand the crucial importance of business integrity and transparency. “Rangers fans have every right to be wary about someone showing an interest in the club they love, especially given some of the events of recent years. First and foremost I believe what the club needs today is a very quick, major injection of capital to stabilise things and I can give the Rangers supporters a categorical assurance that I have the resources and ability to get this club back to its elite level. “I’m looking forward to building a consensus amongst supporters and prominent Rangers-minded figures who have the long-term success of the club at heart. I’ve had detailed research carried out on Rangers and I’m convinced that we could take it back to the top of the Scottish game on a stable and sustainable basis.” Robertson added his backing to Sarver when the former full-back – who played 245 times for Rangers over six seasons – said: “I’ve known Robert for several years. He has been very supportive of our local club and has a very good reputation in the US. “When he said he was looking to invest in football in Europe, I told him right away that Rangers could really be doing with someone with his track record. I explained how far the club has fallen, but that there was huge potential to rebuild it. “Even though I’m now based over here, I always watch really closely how things are going at Ibrox and it’s tragic to see how a club which was once a force in Europe has been brought so low. “I can tell every Rangers fan in Scotland and abroad, if Robert Sarver is successful in becoming part of the club, he’ll not rest until they are back on top again.” The Telegraph can also shed light on the matter of the unpaid NI bill which was said to have tipped the club into its latest crisis. Some Rangers supporters have been sceptical of the story of a possible default – especially since the SPFL confirmed that its early warning system had not been triggered – and conjecture that the tale was inflated to present Sandy Easdale as a white knight riding to the rescue. However, there are two issues which should not be confused. If Rangers had not paid their players’ NI, the failure would have constituted an immediate default event. The club would have suffered the imposition of a registration embargo which would have prevented the signing of any players during the January transfer window – not that there is any sign of Rangers being either able or willing to reinforce the playing squad right now. However, had Rangers been late with the employers’ contribution, HMRC are entitled – given the club’s record of default under Craig Whyte – to warn that payment would be required within a strictly enforced time limit. At any event, the Telegraph understands that HMRC has no current concerns about the club’s obligations to the tax authority. Finally, in an ironic twist to the ongoing saga at Ibrox which, on the football side, saw Ally McCoist hand in his notice as manager and then be placed on gardening leave, there is the choice of match featured in Tuesday's ‘On This Day’ slot on Rangers’ club website. The game in question is Rangers’ 2-0 victory over Aberdeen at Ibrox on January 6, 1990. In contrast to their current struggle for promotion from the Scottish Championship, that victory saw Rangers stride towards a fourth successive Scottish title, with Aberdeen as runners-up. Highlights of the match show the decisive second goal scored by – Ally McCoist. Aberdeen, though, were weakened by the loss through injury of their regular left back – a certain David Robertson. 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 Who benefits most from a jump in the share price? shareholders. in truth its jumping off small trades. it will plummet if left alone as we near oblivion. 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted January 6, 2015 Share Posted January 6, 2015 (edited) The Telegraph can also shed light on the matter of the unpaid NI bill which was said to have tipped the club into its latest crisis. Some Rangers supporters have been sceptical of the story of a possible default – especially since the SPFL confirmed that its early warning system had not been triggered – and conjecture that the tale was inflated to present Sandy Easdale as a white knight riding to the rescue.However, there are two issues which should not be confused. If Rangers had not paid their players’ NI, the failure would have constituted an immediate default event. The club would have suffered the imposition of a registration embargo which would have prevented the signing of any players during the January transfer window – not that there is any sign of Rangers being either able or willing to reinforce the playing squad right now. However, had Rangers been late with the employers’ contribution, HMRC are entitled – given the club’s record of default under Craig Whyte – to warn that payment would be required within a strictly enforced time limit. At any event, the Telegraph understands that HMRC has no current concerns about the club's obligations to the tax authority. That's a most curious piece. Initially, the tone & wording suggest those who saw the whole thing as a PR stunt were wrong, and were confusing employee and employer contributions. However, even if it were 'only' employees' NI which was due, HMRC would have hardly turned a blind eye, thinking a transfer embargo was punishment enough. Then the piece winds up by saying HMRC have 'no concerns' which, given our history, financial position and the much trumpeted expression 'winding up order', is a most odd statement - a taxpaying body cannot go from a status of 'winding-up order' to 'no concerns' in less than 48 hours. But if Forsyth knows it was cobblers, why isn't he going with it? Very odd. Edited January 6, 2015 by andy steel 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 6, 2015 Share Posted January 6, 2015 shareholders. Yes, but only those looking to sell, and especially those who were 'lucky' enough to get in at a penny. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted January 6, 2015 Share Posted January 6, 2015 Who benefits most from a jump in the share price? Shareholders looking to sell Take a look at the shareholding in the Club on previous pages and you will see who the shareholders are. If holding the shares it makes little difference, but if looking to sell them you have just seen a nice 50% increase..... wonder if Ashley is close to saying "screw this for a game of soldiers, I'm off"...... 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 king etc only need 51% then they can have rights issues underwritten by them. if ashley etc want to sell the better do so soon or they will simple be forced to invest or be marginalized. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 6, 2015 Share Posted January 6, 2015 Shareholders looking to sell Take a look at the shareholding in the Club on previous pages and you will see who the shareholders are. If holding the shares it makes little difference, but if looking to sell them you have just seen a nice 50% increase..... wonder if Ashley is close to saying "screw this for a game of soldiers, I'm off"...... rhetorical rɪˈtɒrɪk(ə)l/Submit adjective 1. relating to or concerned with the art of rhetoric. "repetition is a common rhetorical device" synonyms: stylistic, oratorical, linguistic, verbal "the skilful use of such rhetorical devices like metaphor" expressed in terms intended to persuade or impress. "the rhetorical commitment of the government to give priority to primary education" synonyms: extravagant, grandiloquent, magniloquent, high-flown, high-sounding, sonorous, lofty, orotund, bombastic, grandiose, pompous, pretentious, overblown, overripe, oratorical, turgid, flowery, florid, declamatory, Ciceronian; More 2. (of a question) asked in order to produce an effect or to make a statement rather than to elicit information. 0 Quote Link to post Share on other sites More sharing options...
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