pete 2,499 Posted February 8, 2018 Share Posted February 8, 2018 9 hours ago, the gunslinger said: We seem to be in bed with close brothers a lot. I can't even get in bed Close to the wife 0 Quote Link to post Share on other sites More sharing options...
Gonzo79 13,765 Posted February 8, 2018 Share Posted February 8, 2018 5 hours ago, craig said: Would you honestly contend we would be on a surer financial footing if we had a bank loan ? I know I wouldn’t. I think you have slightly misunderstood my original point. I don't want to see the club in debt. By surer financial footing I meant instead of being seen as some kind of untrustworthy basket case, the club now seems to be on more of an even keel. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted February 8, 2018 Share Posted February 8, 2018 So Close are the new Ticketus. 1 Quote Link to post Share on other sites More sharing options...
ian1964 10,457 Posted February 8, 2018 Share Posted February 8, 2018 The banking facility – questions and answers here https://fourladshadadream.wordpress.com/2018/02/08/the-banking-facility-questions-and-answers-here/ 2 Quote Link to post Share on other sites More sharing options...
cooponthewing 1,139 Posted February 8, 2018 Share Posted February 8, 2018 30 minutes ago, Bluedell said: So Close are the new Ticketus. Same principle by looks of it? Borrowing money paid back when ST money comes in? As long as it’s small amounts I guess it’s ok but i know nothing about it? 0 Quote Link to post Share on other sites More sharing options...
Uilleam 5,502 Posted February 8, 2018 Share Posted February 8, 2018 4 hours ago, Bluedell said: So Close are the new Ticketus. A different thing, surely? For one, it doesn't seem to me that Messrs Close Bros may be 'burned' in the way that the great Whyte lamprey did for Ticketus. 0 Quote Link to post Share on other sites More sharing options...
Gonzo79 13,765 Posted February 8, 2018 Share Posted February 8, 2018 1 hour ago, ian1964 said: The banking facility – questions and answers here https://fourladshadadream.wordpress.com/2018/02/08/the-banking-facility-questions-and-answers-here/ This point: "It’s a major backing for them from a major London banking institution. A gold star in their (the board's) direction from the city, we are once again trusted and seen as a viable business" Was what I meant by the club being on a surer financial footing. Hope that clears it up. 1 Quote Link to post Share on other sites More sharing options...
Bill 13,717 Posted February 8, 2018 Share Posted February 8, 2018 For a financially secure business a banking facility is merely a short term bridging mechanism to accommodate normal income variation. Reasonably, this would seem to apply to football clubs like Rangers. On the other hand, if it is seen as a borrowing facility to cover sustained trading shortfalls, it is simply a means of generating growing debt. If this is the case, we are definitely not (yet) on a secure financial footing. 0 Quote Link to post Share on other sites More sharing options...
Gonzo79 13,765 Posted February 8, 2018 Share Posted February 8, 2018 Well, that remains to be seen. 0 Quote Link to post Share on other sites More sharing options...
Gaffer 1,665 Posted February 8, 2018 Share Posted February 8, 2018 1 hour ago, ian1964 said: The banking facility – questions and answers here https://fourladshadadream.wordpress.com/2018/02/08/the-banking-facility-questions-and-answers-here/ I think this is a really good summary and although I was surprised at us using Close, it makes sense if it is a straight forward overdraft facility. However, for £3m surely we could have secured it against Windass instead 0 Quote Link to post Share on other sites More sharing options...
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