Positivity from the Chair or waffle ?

[wabashcannonball 0]

The chair has spoken (allegedly) if we are up for sale his take on matters is all ifs and buts, very strange.

 

http://www.dailyrecord.co.uk/2010/04/09/keeping-walter-smith-at-rangers-is-my-top-target-admits-ibrox-chiarman-alastair-johnston-86908-22172768/

[Frankie 8,677]

Nothing of note to lay our hats on there.

 

For me it is reasonably simple:

 

Plan A: Win the League and Qualify for the CL = Same general squad as last year with any player sales paying for required replacements/contract renewals as well as partially towards reducing debt. 2-5 players out. 2-5 players in on paid transfers, Bosman and loan/deals.

 

Plan B: Win the League and Qualify for the CL = Same general squad as last year with any player sales going wholly to reducing debt. 2-5 players out. 1-3 players in on Bosman/loan deals

 

Plan C: Win the League and Don't Qualify for the CL = Key players sold to reduce debt; reliant on youth system. 5+ players out. 1-2 players in on Bosman/loan deals.

 

As it stands, Plan A is most likely and the chairman is simply ensuring he doesn't say anything that could come back to haunt him if Lyon win the CL and/or the bank change the January 2011 agreement.

Edited April 9, 2010 by Frankie

[Frankie 8,677]

Obviously, the above is if the bank/MIH remain the majority shareholder of the club for next season but it would probably be the same outlook no matter the owner.

[Union City Blue 0]

Whether we get CL or not, it'll be down to negotiations with the bank - that's what AJ has said all along.

 

Not much cause for taking anything for granted, unfortunately.

[Jim White 0]

Rangers chairman Alastair Johnston insists keeping Walter Smith at Ibrox is his top priority.

 

More...

[Frankie 8,677]

Whether we get CL or not, it'll be down to negotiations with the bank - that's what AJ has said all along.

 

Not much cause for taking anything for granted, unfortunately.

 

Yeah, the chairman has been pretty consistent in that regard all along.

 

However, he did say at the AGM that they 'reached an agreement with the bank that extends through the end

of 2010 with facilities at the same margin and at no additional cost'. Moreover, he made it clear that 'the bank agreed to make no demand, despite media speculation to the contrary, for Rangers to manage its business plan to allow for any expedited repayment of the Club's debt'.

 

Thus, the only uncertainty that I can see (and it is merely uninformed speculation) is that this agreement was only found last year because it was stipulated that if we secured CL qualification for 2010/11; a certain portion of that income would be paid to the bank - hence the agreement only reaching to the end of this year when any CL money starts to filter in. Not sure if that would go against the above paragraph or not, but I'd expect the wording of AJ's AGM statement is deliberately vague and open to interpretation.

 

Fact is, none of us know for sure but even if we do qualify for the CL, that alone won't mean a plethora of quality new signings. As was the case 2 years ago (and before with JAB) only the selling of key players (such as Bougherra and McGregor especially) will enable us to 'trade' in the transfer market.

[wabashcannonball 0]

Obviously, the above is if the bank/MIH remain the majority shareholder of the club for next season but it would probably be the same outlook no matter the owner.

 

 

And what would be your erudite thinking on the status quo remaining, next season Frankie.

 

ETA......probability as opposed to possibility.

 

The bank would be the overdraft facility ? the majority of debt is over long term, the overdraft is being serviced, why would the bank be hard to deal with, I hope we are not going back to the nonsense of the bank "running" the club", the chair can't have it both ways, he said at the AGM we are a going viable business.

Edited April 9, 2010 by wabashcannonball

[Bluedell 5,691]

I find it a little strange. The business plan is in place so why do they need further negotations with the bank. It's unlikely that anything will happen that would not be cover by one of the business plan scenarios.

[Frankie 8,677]

And what would be your erudite thinking on the status quo remaining, next season Frankie.

 

Like most people, I have literally no idea.

 

Certainly if Ellis is destined to buy Rangers, I wouldn't expect any confirmation until our CL involvement is secured - i.e. the end of May.

 

With no other serious bidders present, he can probably afford to wait until then but he may well find the price goes up - unless that has been agreed already of course.

 

Qualification for the CL group stage represents a �£10-20million difference in income and would enable any new owner to build from a position of relative strength as opposed to avoiding reporting a loss in their first year.

[wabashcannonball 0]

Like most people, I have literally no idea.

 

Certainly if Ellis is destined to buy Rangers, I wouldn't expect any confirmation until our CL involvement is secured - i.e. the end of May.

 

With no other serious bidders present, he can probably afford to wait until then but he may well find the price goes up - unless that has been agreed already of course.

 

Qualification for the CL group stage represents a �£10-20million difference in income and would enable any new owner to build from a position of relative strength as opposed to avoiding reporting a loss in their first year.

 

 

Something tells me Frankie that in this game of poker and with a possible �£20 mill euro pot, the boy David is the one sitting with a full house.