chilledbear 16 Posted October 27, 2009 Share Posted October 27, 2009 I take it the �£50m came from within MIH, a transfer from another part of the company. If I am correct, can it be clawed back if the Club is sold independently? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,560 Posted October 27, 2009 Share Posted October 27, 2009 No. MIH indirectly bought shares in the club. Nobody can turn round and ask for their money back. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted October 27, 2009 Author Share Posted October 27, 2009 What a gawd awful business decision that was. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,560 Posted October 27, 2009 Share Posted October 27, 2009 What a gawd awful business decision that was. They didn't really have any choice. It wasn't made with a view to making money but rather to reduce the club's debt. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted October 27, 2009 Author Share Posted October 27, 2009 Therefore, although he never used his OWN money, he put his Company deeper into debt. BTW, I'm trying to explain all this to a mate, I wish I hadn't started. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,560 Posted October 27, 2009 Share Posted October 27, 2009 Therefore, although he never used his OWN money, he put his Company deeper into debt. BTW, I'm trying to explain all this to a mate, I wish I hadn't started. Whether is came from him or his company didn't make that much of a difference. It came from him as far as I'm concerned. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted October 27, 2009 Share Posted October 27, 2009 Therefore, although he never used his OWN money, he put his Company deeper into debt. BTW, I'm trying to explain all this to a mate, I wish I hadn't started. Indirectly he DID use his own money dependent on how much of a shareholding in MIH. If, for instance, he owns 100% of MIH and he then underwrote the rights issue with MIH money.... then MIH paid the 50 million for the shares and that is the same as SDM paying the 50 million as he 100% owns MIH. Basically you would take the 50 million and multiply it by his %age ownership of MIH to see how much of his "own money" he paid for the rights issue. As BD says, he had no choice. He effectively owns(ed) Rangers, he effectively owns(ed) MIH - Rangers were in the shit so he had to act or he would have lost the club. Without acting we would have went under. he moved debt from one SDM company to another but if he owns both it is still his money being used. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted October 27, 2009 Author Share Posted October 27, 2009 Thanks for answering my questions. 0 Quote Link to post Share on other sites More sharing options...
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