Club 1872 meeting with Dave King

[Bluedell 5,353]

Just now, Soulsonic5791 said:

Using a CIC to acquire club assets is highly ambitious and I'd need to be convinced of how realistic a goal that is.

 

When you say '....as the security is needed elsewhere.' Bluedell, can you elaborate please. What exactly do you mean?

I'd agree with your first point.

 

The club has used some of its assets as security to obtain funding from Close Brothers. The club are unlikely to be willing to give away security to the support when they may need it to keep existing funding and obtain additional funding over the next few years.

[Bluedell 5,353]

30 minutes ago, aweebluesoandso said:

That's quite a statement, C1872 hasn't nominated any one as yet, but you deem he or she has nothing to offer. So amongst how many Rangers supporters around the globe, some very high profile Bears. Who some are self made multi millionaires, politicians, QC, ex Military and none have nothing to offer. I heard of talking ourselves down but that really is going to far.

Agreed. I can think of a few people in the support who could be an asset to the board.

 

However the couple that I know who are self made multi millionaires or politicians are ones who I don't think are suitable.

[aweebluesoandso 290]

1 minute ago, Bluedell said:

Agreed. I can think of a few people in the support who could be an asset to the board.

 

However the couple that I know who are self made multi millionaires or politicians are ones who I don't think are suitable.

What about Jim McColl? Not saying he would be interested purely hypothetical.

[Soulsonic5791 408]

5 minutes ago, Bluedell said:

I'd agree with your first point.

 

The club has used some of its assets as security to obtain funding from Close Brothers. The club are unlikely to be willing to give away security to the support when they may need it to keep existing funding and obtain additional funding over the next few years.

Therein lies the crux of the problem in my eyes....transparency. Let's talk to a merchant banker for a tap but a fans vehicle which is answerable to the rank and file paying punter? Draw your own conclusions on that one.

 

Can anyone enlighten me with regard to the RFFF money to be used at Auchenhowie, who controlled the handing over of that cash? Couldn't that have been used to 'acquire an asset'?

 

Bluedell? Any thoughts?

[Bluedell 5,353]

5 minutes ago, aweebluesoandso said:

What about Jim McColl? Not saying he would be interested purely hypothetical.

I don't personally know him, so he wasn't covered my comments, but I doubt he'd be that suitable. We would want someone putting forward the points of the "ordinary" fan as part of his or her responsibilities and I'm not sure McColl would be in tune with them.

[Bluedell 5,353]

4 minutes ago, Soulsonic5791 said:

Can anyone enlighten me with regard to the RFFF money to be used at Auchenhowie, who controlled the handing over of that cash? Couldn't that have been used to 'acquire an asset'?

 

Bluedell? Any thoughts?

The RFFF cash has been used to build seating and changing rooms beside one of the pitches at Auchenhowie.

[Soulsonic5791 408]

Just now, Bluedell said:

The RFFF cash has been used to build seating and changing rooms beside one of the pitches at Auchenhowie.

I know what it is being used for. I was meaning the ins and outs of the cash disposal.

[Bluedell 5,353]

5 minutes ago, Soulsonic5791 said:

Therein lies the crux of the problem in my eyes....transparency. Let's talk to a merchant banker for a tap but a fans vehicle which is answerable to the rank and file paying punter? Draw your own conclusions on that one.

 

The C1872 cash is being "given" to the club so no need for security, unlike a third party.

 

Yes, C1872 could start demanding security but that's moving away from what the members appear to want. They just want their cash to go into the club....well strike that, many were happy when the cash was used to get rid of Ashley....so I guess we could say the cash is used for the benefit of the club without any strings.

[Bluedell 5,353]

2 minutes ago, Soulsonic5791 said:

I know what it is being used for. I was meaning the ins and outs of the cash disposal.

Ah, sorry, reading too quickly. Not sure who actually handed over the cash, but the trustees of the cash are known, and all they wanted to do ultimately was dispose of it. They weren't in a position to start buying stuff in their own names due to the ad-hoc nature of the way the cash was collected and the lack of formal organisation.

[aweebluesoandso 290]

2 minutes ago, Bluedell said:

The C1872 cash is being "given" to the club so no need for security, unlike a third party.

 

Yes, C1872 could start demanding security but that's moving away from what the members appear to want. They just want their cash to go into the club....well strike that, many were happy when the cash was used to get rid of Ashley....so I guess we could say the cash is used for the benefit of the club without any strings.

I thought buying half of the Ashley share block was a good thing at the time, but looking back with hindsight, now with the share dilution coming up, i'm not to sure now. Better the members money was given as soft loans like others did, C1872 would now have £1mil converted to shares undiluted. But i don't think the fans money was ever wanted for soft loans, wonder why that is?