buster. 4,808 Posted January 9, 2015 Share Posted January 9, 2015 (edited) It was quoted that Mr Sarver has done his due diligence? surely to goodness if he has looked under the the club's bonnet, he would have noticed the engine has been nicked? - Sarver comes forward offering tens of millions because his kids football coach Davie Robertson put him onto it. - Sarver said "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." - So after the detailed research he'll at least know about the scale of money required (beyond what he is offering), the onerous contracts, legacy issues and general uncertainty. Would you seriously be prepared to throw tens of millions at such uncertainty without full due diligence because your kids football coach told you about it ? ....and if he has had a look at the books, who gave the ok ? Edited January 9, 2015 by buster. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted January 9, 2015 Share Posted January 9, 2015 Rangers Q&A: D-Day for board as rescue plans remain on the table D-DAY is approaching for Rangers. Christopher Jack Friday 09/01/2015 With cash reserves running low but investment offers on the table, it is crunch time for the board and shareholders. The coming days, even hours, are crucial for the club and will determine its immediate future and long-term prospects. Here, CHRIS JACK looks at the state of play at Ibrox. WHAT IS THE SITUATION AT RANGERS? BLEAK. Rangers are running on fumes and the tank is nearly empty. The board had to take out a £500,000 emergency loan from Sandy Easdale, the chairman of the football board, on Monday for "general working capital purposes", a move which was then followed by reports of a potential run in with HMRC over a tax bill. Having received the first payment from Brentford for the transfer of Lewis Macleod and banked around £200,000 from Dundee United for Charlie Telfer, it was announced yesterday that Easdale had been paid back. With a wage bill due at the end of the month and other running costs to be met, money, and plenty of it, is required urgently, though. Chief executive Derek Llambias assured the SPFL this week that Rangers will be able to see out the Championship campaign but they will not see February without a significant, potentially millions, cash injection. Time is of the essence here and moves will have to be made within the coming hours to find a way to stop another Rangers financial time bomb exploding. WHAT ARE THE OPTIONS AVAILABLE TO THE BOARD? RANGERS are not short of offers but there is no plan that would suit everyone that has a vested interest so someone, somewhere, will have to bite the bullet. The most credible solution comes from familiar faces, with both Dave King and the Three Bears consortium able to provide an immediate cash injection, but they won't want to hand over their hard-earned without having a say in where it goes and how it is spent. King saw a £16million investment kicked into touch by the board last year but, like the Douglas Park, George Letham and George Taylor group, made an eye-catching move when he bought a significant shareholding in RIFC plc a few days ago. King or the consortium already have the backing of supporters but will play hard-ball with the board, who may be left with no option but to ask them for help. Then there is the curious case of Robert Sarver. The American has put two proposals to Rangers, the second worth £20million, after arriving on the scene from nowhere and attempting to become a key player in the Ibrox saga. As part of his plan, a £6.5million loan would be converted into shares, with the rest of his cash then used to buy up new shares. That requires the backing of 75% of the current shareholders, however, and with King and the Three Bears controlling more than a third, Sarver's plans for control seem doomed to failure. The final option is Mike Ashley. The Newcastle United owner has already loaned £3million to Rangers and has bulldozed his way to power as a result, with Llambias and Barry Leach now his eyes and ears in the boardroom. Any further Ashley cash will not come stipulation free, though, and fans are wary what the billionaire could ask for next in return for another bailout. WHY DON'T THEY JUST TAKE THE MONEY? THAT is the £8.5million question. Rangers need that amount to see them to the end of the season but the regime continue to turn away would-be saviours at the door. In case of Sarver, the board can't sanction the issue of new shares without the backing of shareholders. A proposal that would have paved the way for fresh investment was halted at the AGM but King and, separately, the Three Bears quickly played smart hands. Any deal struck with Ashley would likely see the current regime remain in place but that surely won't be the case for King or the Park, Letham, Taylor alliance. An uncovered email exchange with Ashley showed chairman David Somers making a plea to retain his board position while Sandy Easdale and brother James, who is on the plc board, will also want to remain in place. Fans fear that holding onto their seats at the top table will be a more pressing concern than doing the best deal for Rangers when it comes to signing on the dotted line. HOW WILL IT BE FIXED IN THE SHORT AND MEDIUM TERM? IN the coming days, a deal will have to be done to bring in enough cash to keep the lights on and meet the January payroll. Supporters still fear a second insolvency event but that remains remote despite a crippling cash shortage due to the large sums of investment that are on the table. If it is Ashley who provides another loan, the fine print will determine if he has increased his influence on the board and strengthened his hand in terms of Rangers' merchandise agreements. There appears little chance of Sarver being the savour at present, unless he scales back on his ambitions for complete control. That is not to say he couldn't, or won't, be involved in the future, however, with every avenue of investment set to be looked into no matter who calls the shots at the top of the marble staircase. If King or the Three Bears can do a deal, it is likely to see the wind of change sweep through Ibrox. It may yet require an EGM to oust the current board, with the shares held by supporters and like-minded individuals and investors likely to prove crucial to the cause. HOW WILL THE FANS REACT? THEY will be heartened by the movement from the "Rangers men" but still wary of the perilous finances and unpredictability of this saga. Many supporters see this as their last chance to rescue their club from a board and regime that they have no faith in and have lost all trust for. The coming days could be some of the most fast-paced and stormy in this story for some time. WILL THIS HAVE AN AFFECT ON THE PITCH? IT is unlikely. Rangers players have had enough off-field uncertainty to deal with in the last couple of years so this latest drama shouldn't take their eye off the ball. If it gets to the stage where their wages aren't being paid on time, that could be a different matter, and a huge problem, however. And that pay-day deadline is looming up fast... http://www.eveningtimes.co.uk/rangers/rangers-q-a-d-day-for-board-as-rescue-plans-remain-on-the-table-193867n.115833171 0 Quote Link to post Share on other sites More sharing options...
trublusince1982 243 Posted January 9, 2015 Share Posted January 9, 2015 haha hes no buying the club because davy robertson said! try reading. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 9, 2015 Share Posted January 9, 2015 haha hes no buying the club because davy robertson said! try reading. Reading what? Has there been anything credible put out there? 0 Quote Link to post Share on other sites More sharing options...
trublusince1982 243 Posted January 9, 2015 Share Posted January 9, 2015 Reading what? Has there been anything credible put out there?depends whether you can weigh up whats said and reason. he was looking for a euro football team. ask yourself what a ball park budget for that would be? then ask yourself what level of club would you get for say £50m then weigh that level of club against rangers for £20-£30m its a no brainer even with the cost of rebuilding. when asking why would a businessman want a football club then yov must realise that every club has a businessman in charge they dont do it because they are all fans! the usual reasons apply. money,power,challenge, and recognition 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 9, 2015 Share Posted January 9, 2015 depends whether you can weigh up whats said and reason. he was looking for a euro football team. ask yourself what a ball park budget for that would be? then ask yourself what level of club would you get for say £50m then weigh that level of club against rangers for £20-£30m its a no brainer even with the cost of rebuilding. when asking why would a businessman want a football club then yov must realise that every club has a businessman in charge they dont do it because they are all fans! the usual reasons apply. money,power,challenge, and recognition I have weighed up what has been said and have reasoned that very little of it rings true. The words attributed to him said that he wanted a string of clubs in Europe, not just one, so is there any evidence available of him previously making enquiries into owning a European club, or did he just have a lucky strike at his first attempt after meeting Robertson? You throwing random figures out there doesn't do anything to make it any more believable. 0 Quote Link to post Share on other sites More sharing options...
jhunter 0 Posted January 9, 2015 Share Posted January 9, 2015 The above was published a few days ago. I'd like to ask how Mr Sarver managed to conduct due diligence (4th line) ? he has done his due diligence I gather from press reports back to the top and champions league I imagine all of it just total drivel. 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted January 9, 2015 Share Posted January 9, 2015 I have weighed up what has been said and have reasoned that very little of it rings true. The words attributed to him said that he wanted a string of clubs in Europe, not just one, so is there any evidence available of him previously making enquiries into owning a European club, or did he just have a lucky strike at his first attempt after meeting Robertson? You throwing random figures out there doesn't do anything to make it any more believable. If he wants to own a string of clubs, then that suggests he hasn't paid to much attention to the SFA'rules on dual or multiple ownership - you would have thought that he would have had a look at the regulatory environment he was going to be operating in. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 9, 2015 Share Posted January 9, 2015 If he wants to own a string of clubs, then that suggests he hasn't paid to much attention to the SFA'rules on dual or multiple ownership - you would have thought that he would have had a look at the regulatory environment he was going to be operating in. None of it adds up so far. That doesn't mean that it isn't a genuine bid, but given what has gone on before, every fan should have alarm bells ringing in their ears at the manner in which everything is progressing. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted January 9, 2015 Share Posted January 9, 2015 The argument is not being made that they need to be 'Rangers men'. If Brian Kennedy had come back in with the readies he would have been supported and he is a Hibee. The reason the 'Rangers men' are being so heavily backed is that they are the only show in town that people can realistically trust as having the right motives for investing in and saving us. So the 'Rangers men' theory is a red herring. Why did Andy in post #396 then state "We've got to be run by Bears" ?? How is that a red herring ? 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.