Uilleam

I don't know who that is. (I should pay more attention.... Perhaps not.) The shareholders and board members are in a process of disengagement, it seems, so there is less point in worrying about the past, than there is in worrying about the future. Although, as we have little or no influence on what is to come, why worry?

You should be on the Board!!

Well, I am glad that you clarified all that.

Good.

Buying money, mate!! I take it Chelters has taken on the hue of a bookie's benefit.

Does it matter, unless you want to 'hammer' the Board for paying commercial interest rates?

Trump has stopped war chests for Europe. Do keep up, man.

Nah! Not 'avin' that. You just wanted/want a stick to beat the Board, the outgoing Board at that. We see you.

So what is your point? It's short term, something we can't influence, presumably is the best deal that the market could offer, and ultimately, will be of purely historic interest.

It reads to me that 6% is the price at which the Club would do business. We'll find out, presumably. When/if we do, it will be purely of historic interest, and of little practical import.

John Bennett quoted verbatim in the Super Soaraway According to documents lodged to Companies House, two parties, 'FCT' and 'PC', owe Rangers money. It is likely FCT and PC refer to FC Twente and Parma Calcio, two clubs that Rangers have done business with in recent years. Gers sold Antonio Colak to Serie A side Parma for around £2.5m in 2023 and Eredivisie outfit Twente purchased Sam Lammers for a similar amount last summer. Transfer fees are usually paid in instalments than in full however, and it's understood Rangers are still waiting for these instalments to be paid. Neither Twente or Parma are believed to late or overdue with their instalments. But Rangers have taken this action to receive funds now, with interest to be paid on the loan going forward. The future fees that were due from Twente and Parma will now be paid to Macquarie rather than Rangers as part of the agreement. In turn, Macquarie will give the Ibrox club an immediate injection of cash. In normal circumstances, current shareholders could have stepped in and fronted up money of their own whilst the club waited for the instalments to be paid. But with a potential takeover of the Ibrox club by the San Francisco 49ers agreed in principle - and with several of the Rangers board ready to sell up before the end of the current Premiership season - it is reasonable to expect that they would be unwilling to part with more of their own cash. What the move does signal is a change in stance from what ex-chairman John Bennett said in 2021 on the topic of interest rates offered by banks such as Macquarie. He said: "We have had numerous approaches, including in November. It is so interesting, they come to you and it could be equity, it could be family offices, it could be banks such as MacQuarie Bank and they are active in the football space. They can't touch our terms," he said. "What I have been saying and a number of us have been saying is 'Ok, those are interesting approaches'. I can tell you that one of them was at 13 per cent per annum. "We're not paying that. We are no longer paying nine, we are no longer paying eight, six is the new benchmark. "If those providers can come in and beat that at two levels - a lower coupon, because six is the new benchmark, and we have driven the cost of funding down to six. "I think that is one of the lowest numbers in the whole of football in Britain for loans. But also on security. I can assure you they want a whole lot more security and a higher coupon." https://www.thescottishsun.co.uk/sport/14472837/rangers-loan-future-transfer-fees-what-it-means-finances/?utm_medium=Social&utm_campaign=ScottishSunSportTwitter&utm_source=Twitter#Echobox=1741733679

A quote from John Bennett, if short term memory serves. Horse's mouth.

A coupon of 6% I read this morning.

It seems that most, if not all, transfers, nowadays, are done on the drip - in instalments of an agreed amount, over an agreed timescale. A Club may borrow against anticipated future income, from transfer deals which have already been done. This looks like the situation at Ibrox.

It's a cash flow issue, surely. In days gone by, Rangers, and other Clubs, would borrow during the season from outfits like TicketUs, secured against future season ticket sales. Perhaps this avenue is closed due to the cantraips of Wealth off the Radar Man. So, the Club borrows from Macquarie, and assigns future transfer income -instalments outstanding on, say, Lammers, and Colak, and any others- to the lender. It doesn't seem to be much more significant than an overdraft. We might wonder why the Club is not using future season ticket income as security. Perhaps transfer monies already owed is seen as less risk in a time of change, as 'money in the bank', and with less risk, less interest. I have posted this without consulting East End Financial Wizardry Ltd, and thus I could be wrong and total pillage and destruction could be imminent.

Easy to be cynical, but, really who knew?

So, this is what working from home for Revenue and Customs entails.

Looks like early Buckminster Fuller.

Auld age seldom arrives unaccompanied....

Who is the youngest son of Donald J Trump (whom God preserved of Pennsylvania Avenue)?

He was by Donald's side all through the match

Truly a unique grouping of people.

The truth will out Comparing a guy of 22 with a guy pushing 40, apart from anything else....

A great result, and I am, quite rightly, delighted. When I think about just how pig-sick the rest of Scottish football -or, even, perhaps, the rest of Scotland- is with the result, my delight is magnified.