Stock Exchange Anouncement

[buba3d 0]

*edited*

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Edited January 27, 2015 by buba3d

[the gunslinger 3,366]

anyone giving rangers a penny going forward while ashley remains in charge of us is helping to destroy us.

 

utterly sickening.

 

ashley now has 75% of retail and 75% of shirt sponsorship all without investing a penny.

 

the next protest wont stop at the barriers thats for sure.

Edited January 27, 2015 by the gunslinger

[Darthter 542]

The Facility is to be secured by (1) a floating charge over the Club's assets and (2) fixed charges over Murray Park, Edmiston House, Albion Car Park, and the Club's registered trademarks. {/QUOTE]

 

Essentially SD/Ashley will have a hold over EVERYTHING.....

[the gunslinger 3,366]

Jan 27, 2015 13:13

Opinion

by GaryRalston

 

What the Mike Ashley deal REALLY means: He’s got control of the lot – and all for just £2million

 

 

THE Sports Direct tycoon now owns security over Murray Park, Albion Car Park, Edmiston House, copyright of the badge and 75 per cent of retail – suddenly the puzzle of last year has become a whole lot clearer.

 

MIKE ASHLEY’S iron grip on Ibrox has just tightened to the extent it could strangle hopes of a rebirth under new owners.

 

It seems the only revenue stream in the district he doesn’t control is the turnover from the chip shop on the Copland Road.

 

For the total sum of £5million he now holds all the club’s crown jewels in his big, Cockney hands, with the exception of Ibrox Stadium.

 

He may have decided to let that be - for now - but still holds security over Murray Park, the Albion Car Park, Edmiston House and the copyright of the club’s trademarks, including the badge.

 

He can also appoint an additional two new directors to add to his placement on the board, Derek Llambias and Barry Leach, although the latter has never been officially confirmed as an Ashley representative.

 

Crucially, Ashley has also negotiated an additional 26 per cent in Rangers Retail Limited, taking Sports Direct’s total stake in the subsidiary company to 75 per cent.

 

In effect, he can now do whatever he likes with the club’s retail wing - including renegotiating contracts, already weighed heavily in his favour, to boost the coffers of Sports Direct still further.

 

Rangers Retail Limited will also benefit from the sale of shirt sponsorship from 2017, swelling an already bloated bottom line.

 

Oh, and while he’s at it, Ashley has ensured Rangers’ share of the £1.6m dividend due from the current retail contract, around £800,000, will be repaid to Sports Direct for the privilege of shutting unprofitable Rangers Shops.

 

Douglas Park

 

The £5m Ashley has pledged, ahead of Thursday’s payday, will be used to repay the £3m loan he forwarded the club late last year.

 

Basically, for an additional £2m, the Newcastle United owner has seized control over Murray Park, registered trade marks, an additional 26 per cent of the retail joint venture and control of shirt sponsorship deals from 2017.

 

Ashley has also set aside an additional £5m in loans which, if the status quo remains, will surely be drawn upon before the first crocus pops its head above the grass on the roundabout at Edmiston Drive in spring.

 

At the forthcoming general meeting Dave King and the Three Bears are expected to gather enough support from the rank and file to overthrow the current board and replace it with men in whom fans will have greater trust.

 

They can repay the loans and undo much of Ashley’s dealings on Black Tuesday, but a long-term equity solution still requires 75 per cent shareholder approval.

 

The Easdales represent a proxy vote greater than 25 per cent - suddenly, the future of the club as a fan friendly enterprise could be in the hands of the bus bosses from Greenock.

 

They voted against resolution nine at the recent agm, which would have removed the need for such a large percentage of stockholder approval.

 

Many scratched their heads in bemusement at their move that cold, December afternoon. Now? It’s all beginning to make perfect sense.

 

http://www.dailyrecord.co.uk/sport/football/football-news/what-mike-ashley-deal-really-5051682

Edited January 27, 2015 by the gunslinger

[the gunslinger 3,366]

that really is some deal and it's impossible to believe it was the best one on the table.

[craig 5,199]

it looks like the fat man can do anything I have now lost faith in the three bears and king there will be no more season tickets bought from this house

 

What could they have done to prevent the Board from acting in the way they did ? Nothing. They have called the EGM and there is nothing else they can do.

[chilledbear 16]

How long until King, Park etc. decide it just isn't worth it and walk away ?

[the gunslinger 3,366]

How long until King, Park etc. decide it just isn't worth it and walk away ?

 

depends if they win the egm or not i suppose.

 

in truth we should have torn the ****s apart before then.

[True_Ger_1872 2]

I gather we should expect a statement from King, park etc. before the day is out

[buster. 5,132]

I gather we should expect a statement from King, park etc. before the day is out

 

Yes, you'd expect statements from various people/groups but you'd also expect that they'd need time to consider their initial response carefully.